Charity registration number SC036775 (Scotland)
Company registration number SC289744 (Scotland)
ROWAN ALBA LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ROWAN ALBA LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P Freer
Ms D Dickson
Mr G W Robertson
Mr C J Wilson
(Appointed 26 April 2023)
Mr C A Clifford
(Appointed 31 May 2024)
Mr R D Harper
(Appointed 30 April 2024)
Mrs M Nethery
(Appointed 20 June 2023)
Mr K Vijayavel
(Appointed 30 April 2024)
Secretary
Mrs K Barr
Charity number (Scotland)
SC036775
Company number
SC289744
Registered office
1 Lochrin Square
92 - 98 Fountainbridge
Edinburgh
EH3 9QA
Auditor
Thomson Cooper
3 Castle Court
Carnegie Campus
Dunfermline
Fife
KY11 8PB
Bankers
Bank of Scotland
38 St Andrew Square
Edinburgh
EH2 2YR
Solicitors
Eversheds Sutherland
3 Melville St
Edinburgh
EH3 7PE
ROWAN ALBA LTD
CONTENTS
Page
Trustees' report
1 - 6
Independent auditor's report
7 - 9
Statement of financial activities
10 - 11
Balance sheet
12
Statement of cash flows
13
Notes to the financial statements
14 - 30
ROWAN ALBA LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)".

Objectives and Activities

Purposes

The company's objectives are to relieve homelessness and poverty and other needs and to promote the welfare of those in the community who are aged, disabled (whether physically or mentally), chronically sick or are alcohol, drug and substance addicts or recovering from such addiction or have some other condition of need. In furtherance thereof, but not otherwise, the charitable company shall seek;

 

 

The trustees have paid careful due regard to guidance issued by OSCR in deciding what activities Rowan Alba as a charity, undertakes. Over the course of the last year, our charitable activities can be broken down into a number of areas:

 

Achievements and performance

 

We continued to provide long-term supported accommodation in three Edinburgh city centre locations, Thorntree Street which is a home for former street drinkers, Thorntree Mill, providing settled accommodation for younger men who were homeless and have addictions, particularly, poly drug use and Stramullion which provides temporary accommodation for homeless women who are vulnerable. In December 2023, we obtained a rental property in the city centre, a nine bed facility, recently upgrading to a very high standard, to provide settled accommodation to women who are homeless and have needs as a result of trauma and addictions. This facility will be fully operational from August 2024.

 

Other key achievements and highlights across the year for each service are as follows:

 

Thorntree Street Highlights

 

Stramullion Highlights

 

Thorntree Mill Highlights

 

CARDS

ROWAN ALBA LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

Training

This Social Enterprise for Rowan Alba remains a passion and a commitment so we can train for the best and support our workforce. We continue to provide SVQ Assessment to support our colleagues as they obtain the necessary qualifications to thrive in care and support.

 

Events

We hope to focus on events for fundraising following our ongoing recruitment of a Community and Corporate Fundraising Manager. This will see a focus on this in the coming year. We will hold our annual staff conference in October 2024

 

Income Development & Fundraising

We continue to benefit from the success of our well honed social fundraising efforts, with requests to more than 200 charitable trusts, helping to ensure we can help many more people. We are enormously grateful to these trusts, as we know there are a great many other deserving causes. This year saw the recruitment of our Psychologist and Assistant Psychologist, to forge ahead with our joint venture with NHS Lothian and City of Edinburgh Council on our innovative project which will provide specialist assessment to our residents and, where needed, ensure access to the right services are maximised. This is year one of a three-year programme.

Financial review

The charity had an overall surplus of £197,083 (2023: surplus of £8,207) for the year, of which a deficit of £155,250 (2023: surplus of £118,170) relates to unrestricted funds and a surplus of £352,333 (2023: surplus of £126,377) relates to restricted funds. As at the balance sheet date the charity had total reserves of £727,274 (2023: £530,191), of which £654,204 (2023: £301,871) relates to restricted funds and £73,070 (2023: £228,320) relates to unrestricted funds.

Reserves Policy

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. The charity continues to progress towards this level, and in reassuring the position, the charity is seeking way to increase income from services through new developments and looking at a staffing structure to meet that growth is the most cost effective way, which will provide the resources to meet the financial requirements. A Treasury Policy is in development.

Investment policy

Due to the extremely low balance in the investment fund, the decision was taken to withdraw all funds from the investment account and close it in the prior year.

 

Pension scheme

The charity is a member of the Pensions Trust CARE Pension Scheme, a multi-employer defined benefit pension scheme. The scheme is in deficit and the charity has agreed to a deficit funding arrangement. As a result, a liability of £16,329 (2023: £24,812) has been recognised. A net actuarial gain of £2,637 (2023: gain of £701) arose during the year.

ROWAN ALBA LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

Risk management

Rowan Alba’s risk register is an established monitor and is updated at least quarterly. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects.

 

Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors. The continuing implementation of the National Standards and a strong training and supervision programme ensure a consistent quality of delivery for all operational aspects of the charity. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

 

Risk Description - Operational

Because of the highly vulnerable nature of many of our service users, we require a highly dedicated and well-trained staff. We provide a lot of in-house training and psychological supervision for our staff which allows them to continue to offer the service to high standards. Peer audits regularly assess the quality of services and ensure that we exceed the standards.

 

Risk Description - Financial

We are reliant on public funding for the majority of our services. Other services are reliant on grant funding/​general fundraising.

 

Strategy to manage risk

With tight public funding, we continue to demonstrate the effectiveness of our models and aim to do more of this. With regard to grant funding, our new staff structure allows us to better monitor the grants situation and the board receives regular management accounts. We have a growing social media presence, which we hope will generate more income from new sources. We are now looking at a funding structure which widens out interest to communities and corporations. We are also building on our training offering, which we expect to generate more income.

 

Risk description - Environmental and External

The incidence of homelessness is increasing in Scotland. However, the council remains under a statutory duty to provide a roof over people's heads. Our services are popular with commissioners and users as a way to discharge duty for the most vulnerable of society.

Plans for future periods

Partnership with Common Ground Against Homelessness.

We hope our partnership with CGAH, owners of our building at Thorntree Mill, to bring us more opportunities to house many more people over the coming years. We will also actively explore the possibility of Rowan Alba partnering with those organisations who may be able to build suitable accommodation for us and look to develop our own property portfolio.

Thank you to our staff

This last year has seen Rowan Alba develop and grow its viability and opportunities to new and exciting levels. The Board extend their most sincere gratitude to the staff of Rowan Alba. The commitment of the staff has been exemplary, and it is noted that Rowan Alba is a successful charity, focussing on the most vulnerable of our homeless individuals, due to the excellent, committed and dedicated staff. We thank you all.

 

ROWAN ALBA LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 1 September 2005 and registered as a charity on 1 September 2005. The company was established under a Memorandum of Association, which sets out the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Mr P Freer
Ms D Dickson
Ms S Groat
(Resigned 26 April 2023)
Mr G W Robertson
Mr C J Wilson
(Appointed 26 April 2023)
Mr C A Clifford
(Appointed 31 May 2024)
Mr R D Harper
(Appointed 30 April 2024)
Mrs M Nethery
(Appointed 20 June 2023)
Mr K Vijayavel
(Appointed 30 April 2024)

Recruitment and appointment of directors

Under the requirements of the Memorandum and Articles of Association, directors are elected to serve for a period of one year, after which they must be re-elected at the next Annual General Meeting.

Due to the nature of homelessness, which is our primary area of interest, the charity works with a diverse range of clients. The directors seek to ensure that the needs of this group are appropriately reflected through the diversity of the Board, and review membership on an equalities basis annually.

Traditional business and appropriate skills for the sector are well represented on the Board of Directors. In an effort to maintain this broad skill mix, members of the Board are requested to provide a list of their skills (and update it annually) and in the event of specific skills being lost due to retirements, individuals are approached to offer themselves for election to the Board. This current year saw the recruitment of four new members.

Organisational structure

We have a Board who meet quarterly and are responsible for the strategic direction and policy of the charity. At present the Board has nine members from a variety of professional backgrounds relevant to the work of the charity.

A scheme of delegation is in place and day-to-day responsibility for the provision of services rests with the Chief Executive and Service Managers. The Chief Executive is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Service Managers have responsibility for the day-to-day operational management of the services, individual supervision of the staff team and ensuring that the teams continue to develop their skills and working practices in line with good practice.

 

We are an approved centre for the SQA award in health and social care, which has helped to train all staff to Scottish Social Services Council (SSSC) approved levels and will continue to do so with the introduction of support workers to the SSSC register.

 

In so far it is complementary to the charity’s objects, the charity is guided by both local and national policy, working closely with the local authorities who interpret this and commission services accordingly. These services are provided in accordance with the standards for services as set out by the SSSC.

ROWAN ALBA LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -

Directors' induction and training

Most directors are already familiar with the practical work of the charity having been encouraged to visit our services on a rolling programme offered annually, or through the induction process. Service Managers report to the board, and every other meeting, attend before the main business to explain more about their work at a local level.

Additionally, new directors are invited and encouraged to attend a short training session to familiarise themselves with the charity and the context within which it operates.

Training sessions are led by the Chief Executive of the charity and cover:

 

A governance handbook is available. This is distributed to all new directors along with the Memorandum and Articles and the latest financial statements.

Pay policy for senior staff

Pay and remuneration including expenses and pension are set and reviewed by the Board of Trustees on an annual basis. Salaries and terms and conditions are set by sector comparison and there is a commitment to do this annually with staff.

Statement of trustees' responsibilities

The trustees, who are also the directors of Rowan Alba Ltd for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ROWAN ALBA LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
Auditor

In accordance with the company's articles, a resolution proposing that Thomson Cooper be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Ms D Dickson
Trustee
Dated: 23 August 2024
ROWAN ALBA LTD
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ROWAN ALBA LTD
- 7 -

Opinion

We have audited the financial statements of Rowan Alba Ltd (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

ROWAN ALBA LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ROWAN ALBA LTD
- 8 -
Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

-

proper accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We considered the opportunities and incentives that may exist within the charity for fraud and identified the greatest potential for fraud in the following areas: existence and timing of recognition of income, management override through posting of unusual journals along with any complex transactions and complying with laws and regulations.  We discussed the risk with management, designed audit procedures to test the timing and existence of income, reviewed areas of judgement for indicators of management bias and held discussions with management regarding compliance with laws and regulations to address these risks.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the officers and other management (as required by the auditing standards).

We reviewed the laws and regulations in areas that directly affect the financial statements including applicable charity and company law and considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

With the exception of any known or possible non-compliance with relevant and significant laws and regulations, and as required by the auditing standards, our work in respect of these was limited to enquiry of the officers and management of the charity.

We communicated identified laws and regulations and potential fraud risks throughout our team and remained alert to any indications of non-compliance or fraud throughout the audit. However the primary responsibility for the prevention and detection of fraud rests with the trustees.

ROWAN ALBA LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ROWAN ALBA LTD
- 9 -

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Sharon Collins (Senior Statutory Auditor)
For and on behalf of Thomson Cooper, Statutory Auditors
26 August 2024
Dunfermline

Thomson Cooper is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

ROWAN ALBA LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2024
2024
2024
2023
Notes
£
£
£
£
Income from:
Donations and legacies
2
22,130
11,538
33,668
9,161

Income from charitable activities

3
129,364
1,749,342
1,878,706
1,585,942
Other trading activities
4
15,562
-
15,562
21,185
Investments
5
3,918
-
3,918
1,781
Total income
170,974
1,760,880
1,931,854
1,618,069
Expenditure on:
Raising funds
6
15,949
29,841
45,790
86,682
Charitable activities
7
308,685
1,369,172
1,677,857
1,504,676

Other trading activities

11
4,227
9,534
13,761
12,544
Total expenditure
328,861
1,408,547
1,737,408
1,603,902
Net gains/(losses) on investments
12
-
-
-
(6,661)
Net (expenditure)/income for the year/
Net (outgoing)/incoming resources
(157,887)
352,333
194,446
7,506
Other recognised gains and losses
Actuarial gain on defined benefit pension schemes
2,637
-
2,637
701
Net movement in funds
(155,250)
352,333
197,083
8,207
Fund balances at 1 April 2023
228,320
301,871
530,191
521,984
Fund balances at 31 March 2024
73,070
654,204
727,274
530,191

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
ROWAN ALBA LTD
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
2
9,161
-
9,161

Income from charitable activities

3
169,377
1,416,565
1,585,942
Other trading activities
4
9,185
12,000
21,185
Investments
5
1,781
-
1,781
Total income
189,504
1,428,565
1,618,069
Expenditure on:
Raising funds
6
58,761
27,921
86,682
Charitable activities
7
239,179
1,265,497
1,504,676

Other trading activities

11
3,774
8,770
12,544
Total expenditure
301,714
1,302,188
1,603,902
Net gains/(losses) on investments
12
(6,661)
-
(6,661)
Net (expenditure)/income for the year/
Net (outgoing)/incoming resources
(118,871)
126,377
7,506
Other recognised gains and losses
Actuarial gain on defined benefit pension schemes
701
-
701
Net movement in funds
(118,170)
126,377
8,207
Fund balances at 1 April 2022
346,490
175,494
521,984
Fund balances at 31 March 2023
228,320
301,871
530,191
ROWAN ALBA LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 12 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
14
21,910
29,730
Programme related investments
15
31,823
31,823
53,733
61,553
Current assets
Debtors
16
61,159
142,607
Cash at bank and in hand
702,712
404,538
763,871
547,145
Creditors: amounts falling due within one year
17
(74,001)
(53,695)
Net current assets
689,870
493,450
Total assets less current liabilities
743,603
555,003
Provisions for liabilities
19
(16,329)
(24,812)
Net assets
727,274
530,191
Income funds
Restricted funds
19
654,204
301,871
Unrestricted funds
73,070
228,320
727,274
530,191

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 23 August 2024
Ms D Dickson
Trustee
Company Registration No. SC289744
ROWAN ALBA LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
23
299,073
(89,290)
Investing activities
Purchase of tangible fixed assets
(4,816)
(21,601)
Proceeds on disposal of  investments
-
65,872
Investment income received
3,918
1,781
Net cash (used in)/generated from investing activities
(898)
46,052
Net cash used in financing activities
-
-
Net increase/(decrease) in cash and cash equivalents
298,175
(43,238)
Cash and cash equivalents at beginning of year
405,674
448,912
Cash and cash equivalents at end of year
703,849
405,674
Relating to:
Cash at bank and in hand
702,712
404,538
Short term deposits included in current asset investments
1,137
1,136
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
1
Accounting policies
Charity information

Rowan Alba Ltd is a private company limited by guarantee incorporated in Scotland. The registered office is 1 Lochrin Square, 92 - 98 Fountainbridge, Edinburgh, EH3 9QA.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Trust Deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

 

Rowan Alba Ltd meets the definition of a public benefit entity under FRS 102.

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 pound sterling.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees consider that the charity has adequate resources to continue in operational existence for a period of no less than twelve months. The trustees have reviewed their cashflow requirements and are satisfied that the charity has sufficient cash reserve for a period of not less than twelve months and as such 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

All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Donations are included in full in the statement of financial activities when receivable. Donated assets are included in the financial activities where the benefit to the charity is reasonably quantifiable and measurable. The value of the donated assets is the estimated price the charity would expect to pay on the open market for the equivalent assets.

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.

Income from charitable activities is accounted for when earned in accordance with the date of the event.

Income from grants where entitlement is not conditional on the delivery of a specific performance by the charity, is recognised when the charity becomes unconditionally entitled. Income related to performance and specific deliverables, is accounted for as the charity earns the right to consideration by its performance.

ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 15 -

Investment income is included when receivable.

1.5
Expenditure

Expenditure is recognised once there is a legal obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is shown inclusive of irrecoverable input VAT and is classified under the following heading activities:

 

 

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include governance costs which comprise costs associated with the constitutional and statutory requirements 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:

Office equipment
33% straight line p.a.
Fixtures and fittings
20% reducing balance p.a.

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.

The charity has the policy not to capitalise items under £1,000.

Programme related investments are measured at historical cost as it’s fair value cannot be reliably measured. Consideration is made annually for any impairment in value.

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 only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of listed investments, which are subsequently measured at fair value. Financial assets comprise of cash, investments, accrued income, other debtors and grants receivable. Financial liabilities comprise of trade creditors and accruals.

ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 16 -
1.10
Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.11
Employee benefits

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

1.12
Retirement benefits

FRS 102 requires that any surplus or deficit on the defined benefit pension scheme be recognised in the financial statements. The charity is a member of the Pensions Trust CARE Pension Scheme, a multi-employer defined benefit pension scheme, which is unable to identify Rowan Alba Ltd's share of underlying assets or liabilities in the scheme. Consequently, the Board of Directors have accounted for the contributions to the scheme as if it were a defined contribution scheme. Pension costs recognised in the Statement of Financial Activities represent contributions payable for the year.

 

The scheme is classified as a 'last-man standing arrangement'. Therefore, the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

2
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
funds
funds
funds
2024
2024
2024
2023
£
£
£
£
Donations and gifts
22,130
11,538
33,668
9,161
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2
Donations and legacies
(Continued)
- 17 -
Unrestricted
Restricted
Total
Unrestricted
funds
funds
funds
2024
2024
2024
2023
£
£
£
£
Donations and gifts
Simone Clarke
10,000
-
10,000
-
Meikle Foundation
2,000
-
2,000
-
Pat Newman Memorial Trust
1,500
-
1,500
-
Walker Schoolbraid Trust
1,000
-
1,000
-
Gledswood Charitable Trust
1,000
-
1,000
-
Sir Jules Thorn Charitable Trust
-
3,000
3,000
-
Kennedy & Geddes Trust
-
2,000
2,000
-
Wise Music Founation
-
2,000
2,000
-
Harrison Development
-
1,750
1,750
-
Mary Bannerman Trust
-
1,500
1,500
-
Other
6,630
1,288
7,918
9,161
22,130
11,538
33,668
9,161
3

Income from charitable activities

2024
2023
£
£

Income from charitable activities

1,878,706
1,585,942
Analysis by fund
Unrestricted funds
129,364
169,377
Restricted funds
1,749,342
1,416,565
1,878,706
1,585,942
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3

Income from charitable activities

(Continued)
- 18 -
Unrestricted Funds
Restricted Funds
2024
2023
Accommodation Support
£
£
£
£
C.E.C - Block (TT Street)
-
292,878
292,878
287,566
C.E.C - Block (Stramullion)
-
208,994
208,994
206,218
C.E.C - Block (TT Mill)
-
298,015
298,015
221,896
Bield Housing Association (TT Street)
-
22,050
22,050
22,050
Housing Benefit (TT Mill)
-
66,820
66,820
39,322
Floating Support
NHS Lothian - CARDS
-
18,132
18,132
17,952
Edinburgh Health & Social Care Partnership - CARDS
-
51,936
51,936
51,936
The Health & Social Care Alliance - CARDS
-
-
-
(164)
Tudor Trust - CARDS
-
33,000
33,000
30,000
RS McDonald - CARDS
-
25,288
25,288
1,605
National Lottery Community Fund
-
66,720
66,720
46,840
Edinburgh Drink and Alcohol Partnership - CARDS
-
50,001
50,001
46,724
Henry Smith Charitable Trust (£116k over 3 years)
-
37,900
37,900
39,700
Agnes Hunter Trust re High Risk Co-ordinator
-
8,675
8,675
8,675
Grant Income
Edinburgh Sustainability Fund
-
-
-
11,280
Robertson Trust
41,250
-
41,250
37,500
Keystone Fund
39,055
-
39,055
-
St Martin in the Field
-
75,672
75,672
-
Scottish Government - Third Sector Homeless Fund
-
-
-
49,628
Inspiring Scotland - New Womens Accomodation
-
20,644
20,644
18,619
Scottish Government - New Womens Housing
-
59,999
59,999
-
EVOC
-
-
-
14,337
ACVO
-
-
-
2,490
Foundation Scotland - Volant Trust
-
14,929
14,929
22,394
Silverhill Trust
-
12,160
12,160
-
Solace
-
-
-
9,464
Walter Scott Foundation
-
12,163
12,163
12,163
VSDF
-
10,800
10,800
-
Barcapel Foundation
-
10,000
10,000
-
Lottery Community Fund - CARDS
-
-
-
1,945
7IM
-
9,453
9,453
-
Henry Smith Charitable Trust
-
17,794
17,794
27,394
Queensberry House Trust
-
-
-
26,240
Lottery Funding 2022-23
-
-
-
14,164
Ryvoan Trust
-
-
-
10,000
Headway Group - Capacity to Collaborate
-
-
-
8,000
Crerar Trust
-
-
-
8,000
The Albert Hunt Trust
-
-
-
7,000
Barrack Charitable Trust
-
5,000
5,000
-
Nationwide Community Fund
-
5,000
5,000
-
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3

Income from charitable activities

(Continued)
- 19 -
Unrestricted Funds
Restricted Funds
2024
2023
£
£
£
£
Grant Income continued
Inspiring Scotland - Sarah Porteous
-
48,761
48,761
5,155
The 4814 Trust
-
-
-
10,000
CRH Trust
15,000
-
15,000
7,500
Mackie Foundation
10,000
-
10,000
-
Blackrock
8,785
-
8,785
-
Leeward Trust (via Gillespie McAndrew)
-
-
-
7,500
Robertson Trust - cost of living unsolicited donation
-
-
-
5,625
HR Creswick Charitable Trust
-
-
-
5,000
Batchworth Trust
-
-
-
5,000
Other Grant Income (under £5,000)
15,274
27,266
42,540
60,726
Other Income
City of Edinburgh Council - Care Service (TTS)
-
17,699
17,699
37,098
City of Edinburgh Council - Care Service (WP)
-
122,666
122,666
143,110
C.E.C - Care Service (TT Mill)
-
98,927
98,927
4,933
Nationwide Communities Foundation - CBS
-
-
-
(6,643)
129,364
1,749,342
1,878,706
1,585,942
4
Other trading activities
Unrestricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2023
2023
2023
£
£
£
£
£

Other income - rent & housing benefit

14,992
14,992
9,185
-
9,185
Other income - insurance claim
570
570
-
-

Other income - training

-
-
-
12,000
12,000
Other trading activities
15,562
15,562
9,185
12,000
21,185
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
5
Investments
2024
2023
£
£
Dividends receivable
3,918
1,781
6
Raising funds
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Fundraising and publicity
Professional fees
15,949
29,841
45,790
58,761
27,921
86,682
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
7
Charitable Activities
Thorntree Mill
Thorntree Street
Stramullion
New Womens Accomodation
CARDS
Head Office
Training
2024
2023
£
£
£
£
£
£
£
£
£
Staff costs
352,877
282,321
284,555
-
171,268
176,067
602
1,267,690
1,196,018
Depreciation and impairment
-
-
-
-
-
12,637
-
12,637
11,610

Staff training & development

1,833
3,066
2,220
-
2,253
1,474
55
10,901
32,477

Recruitment

380
312
-
-
1,114
1,466
-
3,272
11,628

Rent

79,431
-
-
27,550
1,281
22,547
-
130,809
64,875

Rates & water

177
605
1,121
883
-
-
-
2,786
1,633

Insurance

-
-
14
3,405
-
11,818
-
15,237
9,662

Heat & light

25,683
-
16,647
322
-
-
-
42,652
21,524

Travel & subsistence

3,360
1,084
1,327
8
4,975
3,374
-
14,128
18,800

Postage & stationary

1,193
1,595
1,497
30
3,915
815
-
9,045
7,000

Telephone

2,273
3,083
3,403
-
3,249
2,994
-
15,002
11,307

Advertising

-
-
-
-
-
-
-
-
3,178

Legal & professional

-
3,110
-
8,751
-
33,900
-
45,761
8,064

Repairs & maintenance

23,793
1,532
10,150
813
215
607
-
37,110
34,670

Other costs

7,337
12,086
8,770
21
1,627
15,519
-
45,360
46,882

Audit & accounts fees

-
-
-
-
-
25,467
-
25,467
25,348
498,337
308,794
329,704
41,783
189,897
308,685
657
1,677,857
1,504,676
Analysis by fund
Unrestricted funds
308,685
239,179
Restricted funds
1,369,172
1,265,497
1,677,857
1,504,676
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
8
Net movement in funds
2024
2023
£
£
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets
21,926
11,610
Loss on disposal of tangible fixed assets
-
836
9
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the current or previous year.

10
Employees
Number of employees

The average monthly number of employees excluding agency staff during the year was:

2024
2023
Number
Number
Management & administrative staff
3
3
Service provision
57
49
60
52
Employment costs
2024
2023
£
£
Wages and salaries
1,158,397
1,093,297
Social security costs
83,855
76,688
Pension costs
25,438
26,033
1,267,690
1,196,018
There were no employees whose annual remuneration was £60,000 or more.
11

Other trading activities

Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
Net loss on disposal of tamgible fixed assets
-
-
-
836
-
836

Non charitable activities

4,227
9,534
13,761
2,938
8,770
11,708
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 23 -
12
Net gains/(losses) on investments
Total
Unrestricted
funds
2024
2023
£
£
Gain/(loss) on sale of investments
-
(6,661)
13
Taxation

As the company is exempt under the terms of section 505 of the Income and Corporation Taxes Act 1988, there is no tax charge.

 

 

14
Tangible fixed assets
Office equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
36,849
21,679
58,528
Additions
1,778
3,038
4,816
At 31 March 2024
38,627
24,717
63,344
Depreciation and impairment
At 1 April 2023
24,341
4,456
28,797
Depreciation charged in the year
8,585
4,052
12,637
At 31 March 2024
32,926
8,508
41,434
Carrying amount
At 31 March 2024
5,701
16,209
21,910
At 31 March 2023
12,507
17,223
29,730
15
Programme related investments
CGAH
£
At 1 April 2023 and at 31 March 2024
31,823
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 24 -
16
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
26,236
39,281
Other debtors
23,383
83,189
Prepayments and accrued income
11,540
20,137
61,159
142,607
17
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
19,477
26,719
Trade creditors
31,303
2,855
Other creditors
7,870
7,794
Accruals and deferred income
15,351
16,327
74,001
53,695
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 25 -
19
Provisions for liabilities
2024
2023
£
£
Pension provision
16,329
24,812
Movements on provisions:
Pension provision
£
At 1 April 2023
18,980
Movement in provision
(2,651)
At 31 March 2024
16,329

The charity participates in the scheme, a multi-employer scheme which provides benefits to some 36 non-associated employers. The scheme is a defined benefit scheme in the UK.

It is not possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came in to force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

A full actuarial valuation for the scheme was carried out at 30 September 2022. This valuation showed assets of £49.6m, liabilities of £57.1m and a deficit of £7.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2024 to 30 September 2027:

£1,672,000 per annum

(payable monthly and increasing by 3.0% each year on 1st April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present value of provision
31 March   2024
31 March   2023
31 March   2022
£
£
£
Present value of provision
16,329
24,813
31,190
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19
Provisions for liabilities
(Continued)
- 26 -
Reconciliation of opening and closing position
Period Ending 31 March    2024
Period Ending 31 March   2023
£
£
Provision at start of period
24,813
31,190
Unwinding of the discount factor (interest expense)
1,136
716
Deficit contribution paid
(5,847)
(5,676)
Remeasurements - impact of any change in assumptions
51
(1,417)
Remeasurements - amendments to the contribution schedule
(3,824)
-
Provision at end of period
16,329
24,813
Assumptions
31 March   2024
31 March   2023
31 March   2022
% per     annum
% per     annum
% per       annum
Rate of discount
4.95
5.18
2.55

The discount rates are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The following schedule details the deficit contributions agreed between the company and the scheme at each year end period:

 

DEFICIT CONTRIBUTIONS SCHEDULE

 

Year ending

31 March 2024

(£s)

31 March 2023

(£s)

31 March 2022

(£s)

Year 1

5,669

5,847

5,676

Year 2

5,839

6,022

5,847

Year 3

6,014

6,203

6,022

Year 4

-

6,389

6,203

Year 5

-

3,290

6,389

Year 6

-

-

3,290

 

ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 27 -
19
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 in funds
Movement in funds
Balance at
1 April 2022
Incoming resources
Resources expended
Balance at
1 April 2023
Incoming resources
Resources expended
Balance at
31 March 2024
£
£
£
£
£
£
£
CARDS Project
90,979
250,004
(189,456)
151,527
275,427
(199,379)
227,575
Training Project
-
12,000
(6,100)
5,900
10,800
(657)
16,043
Other restricted funds
25,530
-
-
25,530
-
-
25,530
Thorntree Street
(6,004)
406,348
(388,922)
11,422
354,973
(311,417)
54,978
Stramullion
6,420
405,532
(374,584)
37,368
497,713
(337,329)
197,752
Thorntree Mill
5,781
321,431
(342,106)
(14,894)
555,468
(506,908)
33,666
Common Ground
5,000
3,274
-
8,274
-
-
8,274
Nationwide Communities Foundation - Community Benefit Fund
6,643
-
(6,643)
-
-
-
-
Womens Accomodation
41,145
36,619
(1,020)
76,744
66,499
(52,857)
90,386
175,494
1,435,208
(1,308,831)
301,871
1,760,880
(1,408,547)
654,204
ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19
Restricted funds
(Continued)
- 28 -

Thorntree represents sums received to support the Thorntree accommodation support service.

 

West Pilton represents sums received to support the West Pilton accommodation support service.

 

The CARDS project is funded by CEC and NHS Lothian and is a project for support in the community aimed at clients who have suffered alcohol related brain damage. In addition, this year, funding was received from The Tudor Trust, The Robertson Trust and the RS MacDonald Trust.

 

Monies were received to fund the social enterprise project offering Training services.

 

Income was received towards the Community Benefit Society which is the partnership with Common Ground Against Homelessness.

 

The National Lottery Community Fund provided funds towards befriending and peer support for isolated people with alcohol issues.

 

Monies were received from The Silverhill Trust towards social activities for young homeless women.

 

Other restricted funds were received from City of Edinburgh Council and The Walter Scott Foundation to support various projects.

ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 29 -
20
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total funds
Unrestricted funds
Restricted funds
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
21,910
-
21,910
29,730
-
29,730
Programme related assets
31,823
-
31,823
31,823
-
31,823
Current assets/(liabilities)
35,666
654,204
689,870
191,579
301,871
493,450
Provisions
(16,329)
-
(16,329)
(24,812)
-
(24,812)
73,070
654,204
727,274
228,320
301,871
530,191
21
Operating lease commitments
2024
2023
£
£
Within one year
165,635
93,635
Between two and five years
486,088
327,724
651,723
421,359
22
Related party transactions

Rowan Alba Ltd are due £Nil (2023 - £60,000) from Common Ground Against Homelessness, a Community Benefit Society. Rental totalling £46,200 (2023 - £45,417) was paid during the year to Common Ground Against Homelessness for the Peffermill property.

ROWAN ALBA LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 30 -
23
Cash generated from operations
2024
2023
£
£
Surplus for the year
194,446
7,506
Adjustments for:
Investment income recognised in statement of financial activities
(3,918)
(1,781)
(Gain)/loss on disposal of tangible fixed assets
-
836
(Gain)/loss on disposal of investments
-
6,661
Depreciation and impairment of tangible fixed assets
12,637
11,610
Difference between pension charge and cash contributions
2,637
701
Movements in working capital:
Decrease/(increase) in debtors
81,448
(117,174)
Increase in creditors
20,306
8,729
Increase/(decrease) in provisions
(8,483)
(6,378)
Cash generated from/(absorbed by) operations
299,073
(89,290)
24
Analysis of changes in net funds

The charity had no debt during the year.

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