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2025-03-31-accounts

Charity registration number SC053585 (Scotland)

FARMSTRONG SCOTLAND

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FARMSTRONG SCOTLAND

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Charity number (Scotland) SC053585 Principal address Royal Highland Centre Ingliston EH28 8NB Independent examiner Azets Audit Services Chartered Accountants Quay 2 139 Fountainbridge Edinburgh EH3 9QG

FARMSTRONG SCOTLAND

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

FARMSTRONG SCOTLAND

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the provisions of the Charities SORP (FRS 102) “Accounting and Reporting by Charities: 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)” (effective 1 January 2019), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and provisions of the Companies Act 2006 applicable to small companies. Given the size of the entity it is the opinion of the directors that the information given below is sufficient to comply with the Statement of Recommended Practice.

Objectives and activities

Farmstrong Scotland is an action-based social good programme which aims to improve the wellbeing of the Scottish agricultural community.

Farmstrong Vision:

To have a resilient and thriving agricultural community in Scotland who experience a high level of wellbeing, feel supported, and are prepared to handle challenges and adapt to change.

Farmstrong Mission:

To work collaboratively to enable and grow a culture of wellbeing within the Scottish agricultural community.

Farmstrong Purpose:

To enable individuals in Scotland’s agricultural community to lead happier, healthier, and more fulfilling lives, creating more productive and sustainable businesses.

Farmstrong shares practical information and tools based on the latest wellbeing science. In particular:

Achievements and performance

Key achievements for 2024-2025:

FARMSTRONG SCOTLAND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Key Findings from Farmstrong Survey 2024

The survey findings highlight concerns about the levels of wellbeing in the respondent sample.

Financial review

The charity's income for the year totalled £438,351 (2024 - £116,010) of which £418,351 (2024 - £116,010) was unrestricted and £20,000 (2024 - £nil) was restricted.

The charity incurred revenue expenditure of £267,822 (2024 - £88,617), all of which was unrestricted.

Included within the amounts noted above are goods, services and facilities donated by various parties to Farmstrong. The total value of these donations is £42,545 (2024 - £nil), and this is reflected as both income and expenditure entries.

At 31 March 2025, the charity held total funds of £309,864 (2024 - £139,335) of which £289,864 (2024 - £139,335) was unrestricted and £20,000 (2024 - £nil) was restricted.

Risk management

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

A Farmstrong Scotland Risk Register has been created and is checked at each board meeting.

Plans for future periods

  1. Sustainability: Secure funding, partnerships and demonstrate good governance and efficiency.

  2. Delivery: A programme with a spectrum of positive solutions delivered through a comprehensive communications strategy.

  3. Engagement: Facilitate participation through social and engaging peer-to-peer community led events.

  4. Impact: Ensure a robust monitoring and evaluation strategy to showcase impact and guide the programme.

  5. 2 -

FARMSTRONG SCOTLAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure. governance and management Farmstrong ScollarKI is registered a5 a chanty In Scovand ISC053585). registered on 21 Aug￿1 2024. It is Crjnstituled as a Scothsh Charitable Incorporated Organis&on ISCIO). The ctsrity been operating for a nLrnber of years as an unincorporated irKlépeThJenl ￿ganisatiOn. Ihe formal incorForalion as a chanty has rneant that in this first period of account it was fett apprnpriate lo prepar8 the financial statements as if the charity has always been in existence. The people se￿ing on the knard are referred lo n this conStifu￿.on as charity trustees - members of the SCIO for the purp03es of Ihe tharities and ttVs188 investment1ScoUanOI Aci d thry Je also the The tnjslges who sefyed during th8 ye8r and up lo the date of signature of the financial Statements were". Th8 board may at any time appoint any person Ic be a chanly trustee- by way c vot8 at a board meeting. a res01￿10n pass¢d by rnaj¢Yity Trust recruitment and InduGtlon An notificalion of recruitment of naw tnistges was shared arJos5 iThlustry press, swal media ard through nefvvorks. Applications were submitted. anonnymised then scored by 5 different pwple. After a shonlisi was drawn up. interviews were condLCted and appointees recommended lo thè wider board. Once approved Ihe su¢¢ésgft applicants were appointed fonowing necesswy chedfs. Each trustee appointed undergoes a fomial induction process rel8v8nl to their role.

FARMSTRONG SCOTLAND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FARMSTRONG SCOTLAND I report on the financial statements of the charity for the year ended 31 March 2025, which include the statement of financial activities, balance sheet and tho related notes. Respectlve responslbllities of trustees and examlner The charty's trustees ar8 r8sponsibl8 for th8 preparation of th8 financial statements in accordance with the temis of the Charities and Trustee Investments (Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 1011)la) to Ic) of the 2006 Accounts Regulations does not apply. It is my responsibilty to examine the financial statements as required under section 44{1 Ilc} of the Act and to state whether particular matters have come to my attention. Basls of Independent examlnefs statement My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An axamination includes a review of the accounting records kept by the charty and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disdosures in the financial statements, and seeks explanations from the trustees conceming any such matters. The procedures undertaken do nol 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 financial statements. Independent examlnefs statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Rewting Standard applicable in the UK and Republic of Ireland {FRS 1021 in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effectivg for reporting periods beginning on or after 1 January 2015. In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention.. {a) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 44(11 (a) of the 2005 Act and Regulation 4 cl the 2006 Accounts Regulations., and (li) to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations; have not been met or (b) to which, in my opinion. attention should be drawn in order to enable a proper understanding of ttr financial statements to be reached. A2ets Audit Services Chartered Accountants Quay 2 139 Fountainbridge Edinburgh EH3 9QG Dated: 3 October 2025

FARMSTRONG SCOTLAND

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
418,351
20,000
Expenditure on:
Charitable activities
4
267,822
-
Net income for the year/
Net movement in funds
150,529
20,000
Fund balances at 1 April 2024
139,335
-
Fund balances at 31 March 2025
289,864
20,000		 Total Unrestricted
funds
2025
2024
£
£
438,351
116,010
267,822
88,617
170,529
27,393
139,335
111,942
309,864
139,335		 Total Unrestricted
funds
2025
2024
£
£
438,351
116,010
267,822
88,617
170,529
27,393
139,335
111,942
309,864
139,335
88,617
27,393
111,942
139,335

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

FARMSTRONG SCOTLAND BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets 3.135 Current assets Debto Cash at bank ￿ In hand 3.537 314,￿1 13.931 126.274 318,338 140.XIS Creditors: amounts falllng due wlthln one year 10 {11.fgJ91 1870) Net cu￿ent assets 3C6.729 139,335 Total assets less Current Ilabilities 139.335 Income funds Restricted funds Unrestn'cted funds 12 20.CpXJ 289. 139,335 309.e84 139,335 4)proved by Ihe TrLStees on 24 September 2025

FARMSTRONG SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

On the 21 August 2024, Farmstrong Scotland SCIO was awarded charitable status. All assets and liabilities were transferred from where they were held in the Royal Highland and Agricultural Society of Scotland (RHASS) to its current form, Farmstrong Scotland SCIO on 21 August 2024. The previously unincorporated organisation continued to operate as normal, all formal transfers were completed by 30 November and the charity formally commenced trading on 1 December 2024. The financial statements have been prepared using the merger accounting method and the comparative figures in the financial statements represent activities conducted by Farmstrong Scotland as part of RHASS.

Charity information

Farmstrong Scotland SCIO is a charity incorporated as a SCIO and is governed by its constitution.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

FARMSTRONG SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Services that have been received pro bono are recognised at an estimated fair value value in income and the corresponding cost in expenditure.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Governance costs included those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent reporting accountants' fees, and costs linked to the strategic management of the charity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Event equipment 25% straight line Computers 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

FARMSTRONG SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The trustees are of the opinion that there are no critical accounting estimates that would have a material impact on the financial statements.

FARMSTRONG SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
118,351
-
Grants
300,000
20,000
418,351
20,000
Grants receivable for core activities
Movember
300,000
-
The National Lottery Community Fund
-
20,000
300,000
20,000		 Total Unrestricted
funds
2025
2024
£
£
118,351
66,010
320,000
50,000
438,351
116,010
300,000
50,000
20,000
-
320,000
50,000		 Total Unrestricted
funds
2025
2024
£
£
118,351
66,010
320,000
50,000
438,351
116,010
300,000
50,000
20,000
-
320,000
50,000
116,010
50,000
-
50,000

Donated goods and services

Included within the donations and gifts income of £118,351 are goods, facilities and services donated to the charity with a total value of £42,545 (2024 - £nil).

4 Charitable activities

Charitable
activities
Charitable
activities
2025
2024
£
£
Staff costs
67,999
59,268
Awareness events
27,227
3,104
Programme development
98,122
19,548
Research
15,622
4,700
Merchandise and clothing
12,866
-
Travel
9,851
812
Consultancy
175
800
Training
298
-
232,160
88,232
Share of support costs (see note 5)
26,445
385
Share of governance costs (see note 5)
9,217
-
267,822
88,617		 Charitable
activities
Charitable
activities
2025
2024
£
£
Staff costs
67,999
59,268
Awareness events
27,227
3,104
Programme development
98,122
19,548
Research
15,622
4,700
Merchandise and clothing
12,866
-
Travel
9,851
812
Consultancy
175
800
Training
298
-
232,160
88,232
Share of support costs (see note 5)
26,445
385
Share of governance costs (see note 5)
9,217
-
267,822
88,617		 Charitable
activities
Charitable
activities
2025
2024
£
£
Staff costs
67,999
59,268
Awareness events
27,227
3,104
Programme development
98,122
19,548
Research
15,622
4,700
Merchandise and clothing
12,866
-
Travel
9,851
812
Consultancy
175
800
Training
298
-
232,160
88,232
Share of support costs (see note 5)
26,445
385
Share of governance costs (see note 5)
9,217
-
267,822
88,617
2025
£
67,999
27,227
98,122
15,622
12,866
9,851
175
298
232,160
26,445
9,217
267,822		 2024
£
59,268
3,104
19,548
4,700
-
812
800
-
88,232
385
-
88,617

FARMSTRONG SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5
Support costs
Support
costs
Governance
costs
£
£
Running costs
26,445
-
Incorporation costs
-
2,760
Strategy costs
-
3,097
Independent examination
costs
-
3,360
26,445
9,217
Analysed between
Charitable activities
26,445
9,217		 2025
Support
costs
Governance
costs
£
£
£
26,445
385
-
2,760
-
-
3,097
-
-
3,360
-
-
35,662
385
-
35,662
385
-		 2024
£
385
-
-
-
385
385

6 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Core staff 3 3
Employment costs 2025 2024
£ £
Wages and salaries 58,758 51,431
Social security costs 2,741 4,860
Other pension costs 6,500 2,977
67,999 59,268

There were no employees whose annual remuneration was more than £60,000.

FARMSTRONG SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7
Tangible fixed assets
Event
equipment
Computers
£
£
Cost
Additions
2,472
874
At 31 March 2025
2,472
874
Depreciation and impairment
Depreciation charged in the year
138
73
At 31 March 2025
138
73
Carrying amount
At 31 March 2025
2,334
801
8
Debtors
2025
Amounts falling due within one year:
£
Other debtors
1,505
Prepayments and accrued income
2,032
3,537
9
Creditors: amounts falling due within one year
2025
£
Other taxation and social security
975
Trade creditors
2,386
Accruals and deferred income
8,248
11,609		 Total
£
3,346
3,346
211
211
3,135
2024
£
13,931
-
13,931
2024
£
-
870
-
870

10 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to the income and expenditure account in respect of defined contribution schemes was £6,500 (2024 - £2,977).

FARMSTRONG SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement
in funds in funds
Income Balance at Income Balance at
1 April 2024 31 March 2025
£ £ £ £
The National Lottery Community Fund - - 20,000 20,000

National Lottery Community Funding was granted for the delivery of Farmstrong community engagement and events in Lothians, Lanarkshire, Aberdeenshire, Borders and Angus.

12 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2025
2025
£
£
Fund balances at 31 March 2025 are represented
by:
Tangible assets
3,135
-
Current assets/(liabilities)
286,729
20,000
289,864
20,000		 Total Unrestricted
funds
2025
2024
£
£
3,135
-
306,729
139,335
309,864
139,335		 Total Unrestricted
funds
2025
2024
£
£
3,135
-
306,729
139,335
309,864
139,335
139,335

13 Related party transactions

The charity incurred expenditure of £100,057 (2024 - £17,552) to Jane Craigie Marketing. , trustee, is a director of Jane Craigie Marketing.