Unaudited Financial Statements and Trustees’ Annual Report 31 March 2025
Good Green Futures SCIO 4 Borrowmeadow Road Springkerse Industrial Est Stirling FK7 7UW
W: www.goodgreenfutures.org.uk
Good Green Futures - financial statements Year ended 31[st] March 2025
Financial Statements Year ended 31 March 2025
Contents
Chair’s Statement ....................................................................................................................... 2 Trustees’ Annual Report ............................................................................................................. 3 Independent Examiner’s Report ................................................................................................. 6 Statement of Financial Activities .................................................................................................. 7 Statement of Financial Position ................................................................................................... 8 Notes to the Financial Statements Year ended 31 March 2025 ................................................... 9
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Good Green Futures - financial statements Year ended 31[st] March 2025
Chair’s Statement
It is with pride that I share this Chair’s Statement at our inaugural Annual General Meeting. This is a significant milestone for Good Green Futures and it reflects the hard work, commitment, and beliefs, that have shaped our journey so far.
As a young organisation, we are still in the early stages of development. We are learning, growing, and laying the foundations for the lasting impact we aim to make. While there is still much to do, I am pleased to say we have made important progress this year in building the structure, vision, and partnerships that will underpin our future success.
Over the past year, we have:
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Successfully delivered the Climate Action Hub project, a dynamic initiative focused on community collaboration and circular economy development.
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Launched the GoodBuild Project, our vision for a sustainable, community-built space. Using reclaimed materials and green design, we aim to create a hub for education, collaboration, and climate action.
These achievements have been possible thanks to the collective efforts of our trustees, employees, volunteers, and supporters. I want to express my thanks to everyone who has contributed their time, energy, and passion.
Thank you once again for being part of this journey. Together, we are building something meaningful — and while our roots may be young, our ambitions are strong.
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Good Green Futures - financial statements Year ended 31[st] March 2025
Trustees’ Annual Report
The trustees have pleasure in presenting their annual report and financial statements for the year ended 31[st] March 2025.
Trustees:
Objectives and activities
At our core, Good Green Futures is a social enterprise supporting green innovation and circular economy initiatives in Stirling and beyond.
Good Green Futures was constituted to set up a centre of excellence for the circular economy, to provide opportunities for our residents, communities and businesses to take practical steps decrease Scotland's carbon footprint. We are passionate about developing projects that are accessible to everyone and empowering people to make a positive difference to their environment and their local community
Our overarching purposes is the advancement of environmental protection or improvement.
Structure, g overnance and management
Good Green Futures is a two-tier organisation, so we have a wider membership distinct from Trustees. Members can attend general meetings and vote on key matters. This offers greater transparency and accountability. We aim to focus on increasing the number of members we have, with a specific focus on corporate bodies.
We have a constitution and a range of policies for the organisation. We plan to undertake an organisation health check in the coming year to review the policies we have in place and identify any updates required or new policies required to ensure we are functioning optimally.
Trustee recruitment and appointment
The Board of Trustees, which can have up to 12 members, with a quorum of 5 members, is responsible for the strategic direction and policy of the charity. The Board meets up to four times per annum, over the past year we have met both virtually and in person. We do not have any sub committees.
The Board of Trustees is responsible for co-opting additional Trustees as required with a maximum of 5 trustees being able to be co-opted
The aim was to have representatives that were interested in supporting the vision of Good Green Futures. There are currently seven individuals on the Board, with a mix of skills and experience.
Achievements and performance
Year One Summary
We are pleased to present this report marking the completion of our charity’s first full year of operation. It has been a year of significant progress, partnership building, and innovation, establishing a strong foundation for our work in the circular economy, despite a challenging funding landscape.
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Good Green Futures”
financial statements Year ended 31% March 2025
Organisational Development
Over the past year, the charity has grown to employ seven members of staff, all on flexible contracts that support work-life balance and inclusivity.
Project Highlights
Over the past year we have been working on delivering three projects.
Climate Action Hub Project
On behalf of Transition Stirling, we successfully delivered the Climate Action Hub project, a dynamic initiative focused on community collaboration and circular economy development. Key strands of this work included the development of meaningful collaborations across the Forth Valley, connecting over 50 grassroots organisations, public sector teams (including NHS Forth Valley and Stirling Council), and local community groups through events, one-to-one meetings, and tailored introductions. These connections fed into wider feasibility work for a regional reuse hub, ensuring that future developments are rooted in community need.
Green skills
Working alongside Transition Stirling to deliver ‘Green Skills’ to people that are looking for planet-friendly employment opportunities.
Community Construction Hub Pilot
In 2024, we secured funding through Scotland's International Environment Centre, a program delivered by the University of Stirling to pilot a Community Construction Hub, the first initiative of its kind in Scotland. This exciting project builds on our commitment to sustainability and the circular economy, offering a practical, community-led solution to the issue of surplus construction materials. Early responses from the sector have been highly positive, with a strong appetite for collaboration and a shared interest in the social and environmental benefits of this approach. By working directly with construction companies, we can provide a ‘win-win’ scenario whereby we collect their waste from sites, reducing the amount that they need to pay to send to landfill.
Over 50% of the UK’s landfill waste comes directly from the construction sector. Surplus materials are common on site due to over-ordering, breakages, or changes in project scope. Without an easy reuse option, many usable materials end up in skips. By donating these materials, we reduce waste, free up space, and support local community projects.
The GoodBuild project launched on the 25 April 2025, and the launch event was attended by a wide range of stakeholders.
The chart below shows how our sales have been increasing. This is especially encouraging as we have only started proactively marketing the project after the launch at the end of April.
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Good Green Futures - financial statements Year ended 31[st] March 2025
The GoodBuild project is now a member of the Community RePaint Network, which is run by an environmental consultancy called Resource Futures. Community RePaint is a UK wide paint reuse network, sponsored by Dulux. We stock a brand of paint called ReColour, a remanufactured paint which is made from surplus and leftover paint which is filtered, blended and treated to produce a ‘nearly new’ product.
Images of the GoodBuild Project
Future plans
We will continue to grow the Community Construction Hub and aim to build suppliers from across Scotland. We hope to introduce a range of workshops for the community to increase Green Skills for home DIYers and residents exploring employability options.
We continue to pursue our long-term ambition of establishing a flagship, large-scale reuse hub in the centre of Stirling. This vision remains central to our strategy, with current projects informing and shaping the feasibility and design of what we believe will become a national exemplar of circular economy practice in action.
Signed on behalf of the charity trustees:
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Good Green Futures - financial statements Year ended 31[st] March 2025
Independent Examiner’s Report to the Trustees of Good Green Futures
I report on the accounts of the charity for the year ended 31[st] March 2025 which are set out on pages Statement of Financial Activities 7 to 14 .
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 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 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 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the 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 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
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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:
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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16[th] May 2025
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Good Green Futures - financial statements Year ended 31[st] March 2025
Statement of Financial Activities
Year ended 31 March 2025
| 2025 | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | ||
| funds | funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | – | 28,888 | 28,888 |
| Charitable activities | 5 | 22,550 | – | 22,550 |
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||
| Total income & endowments | 22,550 | 28,888 | 51,438 | |
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||
| Expenditure | ||||
| Expenditure on charitable activities | 6 | 16,864 | 26,668 | 43,532 |
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───────── |
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||
| Total expenditure | 16,864 | 26,668 | 43,532 | |
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||
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| Net (expenditure)/income and net | 5,686 | 2,220 | 7,906 | |
| movement in funds | ||||
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| Reconciliation of funds | ||||
| Total funds brought forward | -- |
-- |
-- |
|
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| Total funds carried forward | 5,686 | 2,220 | 7,906 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 14 form part of these financial statements.
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Good Green Futures”
financial statements Year ended 31 March 2025
Statement of Financial Position
| 31 March 2025 | ||
|---|---|---|
| 2025 | ||
| Note | £ | |
| Current Assets | ||
| Debtors | 9 | 29,589 |
| Cash at Bank and in Hand | 80,832 | |
| 110,421 | ||
| Creditors: amounts falling due within oneyear | 10 | 102,515 |
| Net current assets | 7,906 | |
| Total assets less current liabilities | 7,906 | |
| Net assets | 7,906 | |
| Funds ofthe charity | ||
| Restricted funds | 2,220 | |
| Unrestricted funds | 5,686 | |
| TotalCharityfunds | 12 | 7,906 |
These financial statements were approved by the board of trustees and authorised for issue on 4 June 2025, and are signed on behalf of the board by:
Treasurer
The notes on pages 9 to 14 form part of these financial statements
Good Green Futures - financial statements Year ended 31[st] March 2025
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The charity is a public benefit entity and a registered charity in Scotland and is unincorporated. The address of the principal office is 4 Borrowmeadow Road, Stirling, FK7 7UW
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The trustees have reviewed the financial position of the charity and are satisfied that it has sufficient resources to continue for at least 12 months beyond the date of approval of these accounts. The accounts are thus prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
In preparing the accounts, the trustees were not required to make any judgements that would have a material effect on the numbers reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Good Green Futures - financial statements Year ended 31[st] March 2025
Notes to the Financial Statements
Year ended 31 March 2025
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Good Green Futures - financial statements Year ended 31[st] March 2025
Notes to the Financial Statements
Year ended 31 March 2025
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
- Plant and machinery 33% straight line - Fixtures and fittings 20% straight line Motor vehicles - 12% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
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Good Green Futures - financial statements Year ended 31[st] March 2025
Notes to the Financial Statements
Year ended 31 March 2025
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2025 | ||
| £ | £ | £ | ||
| Grants | ||||
| Construction Hub | – | 28,888 | 28,888 |
5. Charitable activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| General Fund | 22,550 | – | 22,550 |
| ──────── | ─────────────── | ||
| 22,550 | – | 22,550 | |
| ════════ | ═══════════════ |
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Good Green Futures - financial statements Year ended 31[st] March 2025
Notes to the Financial Statements
Year ended 31 March 2025
6. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Contribution to Overheads | – | 2,889 | 2,889 |
| Employee Costs | 16,627 | 14,557 | 31,184 |
| Project Expenses | 131 | 5,555 | 5,686 |
| Rental Contribution | – | 3,667 | 3,667 |
| Other Expenses | 106 | – | 106 |
| ───────────────── | ──────── | ||
| 16,864 | 26,668 | 43,532 | |
| ═════════════════ | ════════ |
7. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2025 | |
|---|---|
| £ | |
| Wages and salaries | 31,184 |
| ═════════ |
The average head count of employees during the year was 5
No employee received employee benefits of more than £60,000 during the year
8. Trustee remuneration and expenses
-
No remuneration was paid to the trustees during the year
-
No expenses were reimbursed to the trustees during the year
9. Debtors
| 2025 | |
|---|---|
| £ | |
| Trade debtors | 2,200 |
| Prepayments and accrued income | 27,389 |
| ───── | |
| 29,589 | |
| ═════ |
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Good Green Futures - financial statements Year ended 31[st] March 2025
10. Creditors: amounts falling due within one year
| 2025 | |
|---|---|
| £ | |
| Trade creditors | 46 |
| Accruals and deferred income | 101,112 |
| Social security and other taxes | 1,532 |
| Pension | (175) |
| ────── | |
| 102,515 | |
| ══════ |
11. Deferred income
| 2025 | |
|---|---|
| £ | |
| Amount deferred in year | 101,112 |
| ══════ |
12. Analysis of charitable funds
| Analysis of charitable funds | |||||
|---|---|---|---|---|---|
| As at | Incoming | Outgoing | Transfers | As at | |
| 31/03/24 | Resources | Resources | 31/03/25 | ||
| Unrestricted funds | |||||
| General fund | - | 22,550 | 16,864 | - | 5,686 |
| - | - | ||||
| Restricted funds | - | - | |||
| Construction Hub | - | 28,888 | 26,668 | - | 2,220 |
| ═════ | ═════ | ═══════ | ═════ | ═════ | |
| Total Funds | - | 51,538 | 43,532 | - | 7,906 |
| ═════ | ═════ | ═════════════════ |
13, Operating lease commitments
The trustees have not entered into any tenancy agreements
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