THE 5000 FOUNDATION SCIO
Scottish Charty Number: SC052930
Annual Report and Financial Statements
For the period from 3rd November 2023 to 30th November 2024
THE 5000 FOUNDATION SCIO
Trustees' Annual Report
For the period ended 30th November 2024
The Trustees' present their report with the financial statements for the period ended 30 November 2024.
Reference and Administrative Details
Charity number: SC013057
Address:
Trustees: The Trustees serving during the year and since the year-end were as follows:
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THE 5000 FOUNDATION SCIO
Trustees' Annual Report For the period ended 30th November 2024
Structure Governance and Management
Governing Document
The charity is a Scottish Charitable Incorporated Organisation (SCIO). It was registered in its current form on 3 November 2023. It has a single tier structure and as such the trustees are the members of the chartity.
Appointment of Trustees
The board may at any time appoint any person to be a Charity Trustee by way of a resolution passed by majority vote at a board meeting. Charity Trustees shall be appointed for an initial term of office of three years and thereafter shall be eligible for re-appointment for one further term of three years (ie a maximum of 6 years). The Charity Trustees shall endeavour to recruit to the board individuals with appropriate and relevant experience and skills
Objectives and Activities
Charitable Purpose
The charity operates by providing grants to support financially and otherwise, individuals, charities, community groups and others which focus on creating opportunities for those facing barriers in creative industries while addressing climate change, environmental protection and resilience.
Achievements and performance
The charity was proud to make its first grant to an online University in Lagos - which focus on developing the music industries in Nigeria - in the period.
The charity will continue to identify suitable projects that can benefit from funding.
Financial Review
The financial statements follow on pages 6 to 8. Total receipts in the period were £10,000 and total payments were £854 resulting in a surplus of £9,146. Total funds held at 30th November 2024 amounted to £9,146. All funds are unrestricted
Reserves policy
The trustee's policy is to retain three months worth of normal running costs. Current running costs are minimal and the trustees believe this level is an appopriate level.
Plans for the future
The charity will continue to identify suitable projects that can benefit from funding. They hope to provide more grants in the coming year.
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THE 5000 FOUNDATION SCIO Trustees. Annual Report For the period ended 30th November 2024 Statement of Trustees, responsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair viow of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these finantial statèmènts, thè trustèès arè rèquirèd to= select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that ara rèasonable and prudent- statè whether applicablè aceounting standards have bèèn followèd, subject to any departures disclosed and explained in the financial Statements. and prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business. Thè trustees are re5ponsiblÈ for maintaining proper accounting rècords which di5closÈ with reasonable accuracy at any time the financial p051tion of the charity and to enable them to ensure that the accounts comply with the Charities and Trustee Investment Iscotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 las amended) and the provisions of the trust deed. They ara also rasponsible for safeguarding the assets of the charity and hance for taking reasonable stèps for the prèvèntion and dètèction of fraud and other irrègularitiès. The Trustees, report was approved by the Board and signed on it's behalf by 2510812025 Date
THE 5000 FOUNDATION SCIO Independent Examiner's Report to the Trustees For the period ended 30th November 2024
I report on the accounts of the charity for the period ended 30 November 2024 which are set out on pages 6 to 8.
Respective responsibilities of Trustees and examiner
The charity's Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's Trustees consider that the audit requirement of Regulation 10 (1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44 (1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept bythe charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In the course of my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44 (1) (a) of the 2005 Act and regulation 4 of the 2006 Accounts Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
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have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date ...................................... 27 August 2025
Helen Lowe Ltd Chartered Accountants 17-21 East Mayfield, Edinburgh EH9 1SE
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THE 5000 FOUNDATION SCIO Statement of receipts and payments For the period ended 30th November 2024
| THE 5000 FOUNDATION SCIO Statement of receipts and payments For the period ended 30th November 2024 |
||
|---|---|---|
| Unrestricted | ||
| Funds | ||
| Notes | 30.11.24 | |
| £ | ||
| Receipts | ||
| Donations | 4 | 10,000 |
| Total Receipts | 10,000 | |
| Payments | ||
| Payments relating to Charitable Activities | ||
| - Grants | 5 | 854 |
| Total Payments | 854 | |
| Net receipts/(payments) | 9,146 | |
| Transfer between funds | - | |
| Surplus/(deficit) for the year | 9,146 |
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THE 5000 FOUNDATION SCIO Statement of Balances At 30th November 2024
| THE 5000 FOUNDATION SCIO Statement of Balances At 30th November 2024 |
|
|---|---|
| Unrestricted | |
| Funds | |
| 30.11.24 | |
| Surplus for the year | 9,146 |
| Closing cash at bank | 9,146 |
| Bank and Cash balances | |
| Bank current account | 9,146 |
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THE 5000 FOUNDATION SCIO Notes to the accounts At 30th November 2024
1. Basis of accounting
These accounts have been preapred on the receipts and payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charties Accounts (Scotland) Regulations 2006 (as amended).
2. Nature and purpose of funds
Unrestricted funds are those that may be used at the discrection of the Trustees in furtherance of the objects of the charity.
3. Related Party Transactions
There was no remuneration, benefits or expenses paid to trustees in the period to 30 November 2024.
4.
6.
| Donations 5000 Limited Grants paid Online University Lagos |
30.11.24 10,000 |
|
|---|---|---|
| 10,000 854 |
||
| 854 |
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