REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
GEMAP SCOTLAND LTD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
GEMAP SCOTLAND LTD |
GEMAP SCOTLAND LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 6 |
Report of the Independent Auditors | 7 | to | 9 |
Statement of Financial Activities | 10 |
Balance Sheet | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 | to | 20 |
GEMAP SCOTLAND LTD (REGISTERED NUMBER: SC372522) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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). |
PRINCIPLE ACTIVITIES AND OBJECTIVES |
The constitution of the charity is as follows: |
The Association is established solely for the purpose of promoting and the benefit of the inhabitants of the Greater Easterhouse area of Glasgow, in particular, to relieve poverty and to advance the education of the said inhabitants in all matters relating to the management of personal finance by providing a comprehensive debt counselling and money advice service. The company is managed by the Board of Directors, who are named below. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The following is a summary of the objectives of the charity as set out in its governing constitution: |
1. The prevention or relief of poverty |
2. The advancement of education |
3. The advancement of health |
4. The advancement of citizenship or community development |
5. The promotion of equality and diversity |
Significant activities |
The key activities of the charity are to provide clients with advice and support on a wide range of issues relating to the alleviation and eradication of poverty. This is achieved by providing a multi-channel advice service providing one to one support to claim all available welfare benefits to which any individual may be entitled and to provide ongoing support up to and including tribunal representation. |
The charity also provides a free and confidential debt service for clients struggling to deal with problem debts. |
All services are delivered to level 3 of the Scottish National standards for Information and Advice. |
Public benefit |
This Annual Report contains details of how they have carried out the Charity's purposes for the public benefit. GEMAP'S charitable activities are focused on enabling people to access advice to help them resolve problems that are affecting their quality of life. Though this is done primarily through direct support to the public, although much of this work is carried out on behalf of public bodies it is the general public who are the ultimate beneficiaries of the Charity's work. Research has demonstrated that timely access to advice can have benefits beyond the alleviation of specific financial or other problems. These include maintenance of physical and mental health and well-being. By contrast, an inability to access help and advice when it is needed can result in problems worsening and escalating at increasing cost to the individual and, often, to third parties and to the public purse. |
ACHIEVEMENT AND PERFORMANCE |
Funding |
GEMAP continues to receive funding and support from a diverse range of funding partners including: |
- | Glasgow City Council |
- | GGCNHSB |
- | Scottish Government |
- | Advice UK |
- | RSL Partners |
- | Inspiring Scotland |
GEMAP SCOTLAND LTD (REGISTERED NUMBER: SC372522) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
Review of the year |
During the year we: |
- | Dealt with 7,008 clients |
- | Opened 18,322 cases |
- | Dealt with 4,448 inbound referrals |
- | Represented at 155 appeals |
- | Generated £18,203,757.71 in client income |
- | Managed £3,590,852.02 in debt |
FINANCIAL REVIEW |
Financial position |
The prudent management of the charities resources remains a priority for the board in difficult financial times. The boards stewardship sees the charities cash position as healthy and allows for a sensible degree of optimism that we can continue to weather difficult financial waters that may lie ahead. |
Reserves policy |
The board remain committed to ensuring that GEMAP operates its reserve policy in line with the OSCR guidance to have three month running cost and infrastructure degradation, a flexible figure of between 10% and 15% of available reserves is allocated to address these issues. |
The board recognise the ongoing difficulties with public service finance that supports much of the activity of the charity. |
We will continue to advocate for a strategic approach to funding for the whole sector as this is vital if the sector is to be sustained and a more efficient use of resources across all funders which is essential if we are to support clients to move out of poverty. |
GEMAP SCOTLAND LTD (REGISTERED NUMBER: SC372522) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
FUTURE PLANS |
Projecting forward, the trustees are extremely concerned with the emerging risks to funding support across the third sector. Public sector finances appear to be under significant pressure and inevitably this will place pressure both on existing funding streams and the availability of new funding moving forward. |
Additional attendant risks are the shortages of experienced advice workers across the sector. Advice agencies are faced with a difficult landscape of uncompetitive wage levels, an ageing workforce, no defined career pathway into advice and the challenges of expectations of a workforce in the post Covid era. |
Meeting these challenges as outlined in last years annual report needs to be done in concert with our partners in the GAIN Network. |
Our CEO has been seconded on a part time basis to work with GCC on behalf of the GAIN Network, since February 2024 to look at sustainable funding models and a re-design of Financial Inclusion services within the city. |
The sector has been pushing for sustainable funding arrangements and have in principle made significant strides towards a multi-year funding programme and an improved cost basis for funding the sector. |
We have also designed as a network an enhanced FI offering emphasising prevention, early intervention and collaboration both internally within GAIN and with external agencies to tackle poverty and child poverty within the city. |
By taking this approach we aim to better place the sector as the key strategic partner in the fight against poverty as finance runs through every aspect of people's lives regardless of different life staged be they economically inactive, seeking work, in work, moving out of work. Each group have different challenges often exacerbated by benefit caps, inadequate housing, educational attainment, childcare or language barriers. |
This collaborative approach should signal the end to competition amongst the sector for diminishing resources and signal to funders that a coordinated approach to FI within the city can make more greater use of existing resource and make investment into the sector a much more attractive proposition. |
GEMAP remain committed to providing clients with a holistic, service led by client need and governed internally with providing an environment for excellent customer service. We do this by |
- | Being guided by users experience and need through client feedback. |
- | To continue to innovate in service delivery. |
- | Promote excellence through training and support and reflective practice sessions with staff. |
- | Support staff wellbeing through internal and external support. |
- | Tackling and alleviating poverty through multi-agency collaboration. |
- | Provision of training places for Glasgow Citizens to build a pathway into advice. |
- |
To tackle poverty and widen access to service through promoting our services with health, education, and community partners. |
- | To provide multilingual support for clients. |
- | To ensure accessibility issues for clients living with long term conditions or disabilities are properly addressed. |
We will continue to support clients who present with crisis problems and do so by providing multi-channel service options. Much of this need is still driven by issues around the cost of living. Although headline inflation remains on a downward trajectory, essential household items such as foods, fuel and clothing remain stubbornly high impacting on the poorest families. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Gemap Scotland Ltd is a registered Scottish Charity, number SC023565, incorporated as a company limited by guarantee, number SC372522, as defined by the Companies Act 2006 and administered under Memorandum of Association dated 8th February 2010, which established the objects and powers of the charitable company and is governed under its Articles of Association. The charity is registered with the Office of the Scottish Charity Regulator. |
GEMAP SCOTLAND LTD (REGISTERED NUMBER: SC372522) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
Candidates for the board are interviewed by a panel of current board members and reference checks are conducted. The final candidates are presented to the board for approval and a vote on their appointment is made. |
Organisational structure |
Appointment of Board of Directors is also governed by the constitution of the charity. The Board of Directors is authorised to appoint new board members to fill vacancies arising through resignation or death of an existing board member. |
Decision making |
The Chief Executive is responsible for the Charity's operations through a scheme of delegated authority. The scheme is reviewed annually. The Chief Executive is authorised to act within the delegations defined by the scheme. He/she may delegate areas of operation to senior managers and, through them, to the wider staff group. In relation to those matters within the scheme on which the Board holds decisions to itself, for example the approval of budgets and plans, the Chief Executive will prepare reports and make recommendations for consideration by the Trustees. |
Induction and training of new trustees |
New trustees attend a formal orientation session on induction to the charity. Further training is then made available throughout the year to update, inform and consult trustees on key topics relevant to the organisation's work and governance responsibilities. |
Engagement with employees |
GEMAP seeks to fully engage its entire staff in pursuit of its objectives. An information and communication policy sets out the organisation's values and the routine communication methods which include management meetings, all-staff events, team meetings and internal e-mails. |
Risk management |
The charity has produced a risk register to monitor the ongoing challenges for the charity. |
The register covers all critical potential threat areas, including governance and legal, operations, financial, regulatory, external and collaborations. |
The trustees believe that the risks are understood, and suitable mitigation would be available should there be a risk event. |
The trustees are of the opinion that the risks are understood and suitable mitigation would be available should there be a risk event. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
GEMAP SCOTLAND LTD (REGISTERED NUMBER: SC372522) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
Trustees |
Company Secretary |
Auditors |
Chartered Accountants |
and Statutory Auditor |
213 St Vincent Street |
Glasgow |
G2 5QY |
Key management personnel: |
Chief Executive Officer A Quinn |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of GEMAP Scotland Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, Bannerman Johnstone Maclay, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Approved by order of the board of trustees on |
GEMAP SCOTLAND LTD (REGISTERED NUMBER: SC372522) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF |
GEMAP SCOTLAND LTD |
Opinion |
We have audited the financial statements of GEMAP Scotland Ltd (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (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, including its income and expenditure, 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. |
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, 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 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. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF |
GEMAP SCOTLAND LTD |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion: |
- | adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees' Responsibilities, the trustees 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 charitable company'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. |
Our responsibilities for the audit of the financial statements |
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 a Report of the Independent Auditors 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: |
- | We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which it operates. We determined that the following laws and regulations were the most significant: the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, and the Charities SORP. |
- | We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making enquires to the management. |
- | We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included: |
- | identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud; |
- | understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; |
- | challenging assumptions and judgements made by management in its significant accounting estimates; |
- | identifying and testing journal entries, in particular any journal entries posted with unusual accounting combinations; and |
- | assessing the extent of compliance with relevant laws and regulations. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF |
GEMAP SCOTLAND LTD |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company'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 charitable company's members and the trustees those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
and Statutory Auditor |
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 |
Glasgow |
G2 5QY |
GEMAP SCOTLAND LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities | 3 |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 12 | (5,288 | ) | 5,288 | - | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 569,069 |
GEMAP SCOTLAND LTD (REGISTERED NUMBER: SC372522) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 566,239 |
Restricted funds | 2,830 |
TOTAL FUNDS | 569,069 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
GEMAP SCOTLAND LTD |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 101,605 | 91,066 |
Net cash provided by operating activities | 101,605 | 91,066 |
Cash flows from investing activities |
Interest received | 2,681 | 375 |
Net cash provided by investing activities | 2,681 | 375 |
Change in cash and cash equivalents in the reporting period |
104,286 |
91,441 |
Cash and cash equivalents at the beginning of the reporting period |
2 |
570,667 |
479,226 |
Cash and cash equivalents at the end of the reporting period |
2 |
674,953 |
570,667 |
GEMAP SCOTLAND LTD |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2024 | 2023 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) |
100,840 |
93,183 |
Adjustments for: |
Interest received | (2,681 | ) | (375 | ) |
Increase in debtors | (103,794 | ) | (26,609 | ) |
Increase in creditors | 107,240 | 24,867 |
Net cash provided by operations | 101,605 | 91,066 |
2. | ANALYSIS OF CASH AND CASH EQUIVALENTS |
2024 | 2023 |
£ | £ |
Notice deposits (less than 3 months) | 687,471 | 570,667 |
Overdrafts included in bank loans and overdrafts falling due within one year | (12,518 | ) | - |
Total cash and cash equivalents | 674,953 | 570,667 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.23 | Cash flow | At 31.3.24 |
£ | £ | £ |
Net cash |
Cash at bank | 570,667 | 116,804 | 687,471 |
Bank overdraft | - | (12,518 | ) | (12,518 | ) |
570,667 | 104,286 | 674,953 |
Total | 570,667 | 104,286 | 674,953 |
GEMAP SCOTLAND LTD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The charitable company's functional currency is £. Amounts in the financial statements are rounded to the nearest £. |
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company'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 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, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. |
These estimates and judgements are: |
Recoverability of trade debtor balances. Consideration is given to the likelihood that these will be recovered and provision is made where the recoverability is doubtful in the opinion of the trustees. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
GEMAP SCOTLAND LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES - continued |
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 company 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. |
Basic financial assets |
Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions 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. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including certain creditors, 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 business 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. |
2. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
GEMAP SCOTLAND LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | INCOME FROM CHARITABLE ACTIVITIES |
2024 | 2023 |
Charitable | Total |
activities | activities |
£ | £ |
Grants | 644,972 | 629,454 |
Fees | 491,933 | 519,054 |
Other income | 247,656 | 166,720 |
1,384,561 | 1,315,228 |
Fees received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
Generated income |
221,316 |
291,554 |
Welfare Advice and Health Partnership | 228,958 | 227,500 |
NHS QEUH Fees | 41,659 | - |
491,933 | 519,054 |
Grants received, included in the above, are as follows: |
2024 |
2023 |
£ | £ |
GCC | 248,307 | 255,885 |
SLAB | 334 | 88,006 |
DES | 207,475 | 142,075 |
NHS Main Service | 150,664 | 143,488 |
Advice UK | 38,192 | - |
644,972 | 629,454 |
4. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 5) | Totals |
£ | £ | £ |
Charitable activities | 1,256,138 | 30,264 | 1,286,402 |
Charitable activities includes the following: |
2024 |
2023 |
£ | £ |
Wages | 960,752 | 929,951 |
Social security | 92,941 | 92,101 |
Pensions | 18,177 | 16,961 |
Rent and utilities | 55,792 | 52,518 |
Property insurance | 6,877 | 5,725 |
Telecommunications | 37,787 | 36,458 |
Postage and stationery | 9,440 | 10,126 |
GEMAP SCOTLAND LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | CHARITABLE ACTIVITIES COSTS - continued |
Advertising | 10,305 | 8,197 |
Sundries | 37,459 | 35,254 |
Travel | 3,833 | 3,437 |
Equipment | 8,520 | 5,308 |
Hospitality | 5,278 | 3,145 |
Lease Costs | 8,887 | 8,499 |
Bank charges | 90 | 180 |
1,256,138 | 1,207,860 |
5. | SUPPORT COSTS |
Governance |
costs |
£ |
Charitable activities | 30,264 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Auditors' remuneration | 3,220 | 2,640 |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
During the year the Trustees received gifts to the value of £200 (2023: £200). |
Trustees' expenses |
Trustees expenses reimbursed in the year amounted to £nil (2023: £nil). |
8. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
1,071,870 | 1,039,013 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Administrative |
GEMAP SCOTLAND LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | STAFF COSTS - continued |
The employee benefits of the key management personnel of the Trust were £57,712 (2023: £56,304). |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Trade creditors |
Other creditors |
Accruals and deferred income |
11. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year on demand: |
Bank overdrafts |
12. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 566,239 | 108,958 | (5,288 | ) | 669,909 |
Restricted funds |
Delivering Equally Safe | 2,830 | (8,118 | ) | 5,288 | - |
TOTAL FUNDS | 100,840 | 669,909 |
GEMAP SCOTLAND LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
12. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,140,879 | (1,031,921 | ) | 108,958 |
Restricted funds |
Delivering Equally Safe | 208,171 | (216,289 | ) | (8,118 | ) |
Advice UK | 38,192 | (38,192 | ) | - |
( |
) | (8,118 | ) |
TOTAL FUNDS | ( |
) | 100,840 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 475,886 | 141,775 | (51,422 | ) | 566,239 |
Restricted funds |
Delivering Equally Safe | - | (48,592 | ) | 51,422 | 2,830 |
TOTAL FUNDS | 475,886 | 93,183 | - | 569,069 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,173,278 | (1,031,503 | ) | 141,775 |
Restricted funds |
Delivering Equally Safe | 142,325 | (190,917 | ) | (48,592 | ) |
TOTAL FUNDS | 1,315,603 | (1,222,420 | ) | 93,183 |
GEMAP SCOTLAND LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
12. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 475,886 | 250,733 | (56,710 | ) | 669,909 |
Restricted funds |
Delivering Equally Safe | - | (56,710 | ) | 56,710 | - |
TOTAL FUNDS | 475,886 | 194,023 | - | 669,909 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,314,157 | (2,063,424 | ) | 250,733 |
Restricted funds |
Delivering Equally Safe | 350,496 | (407,206 | ) | (56,710 | ) |
Advice UK | 38,192 | (38,192 | ) | - |
388,688 | (445,398 | ) | (56,710 | ) |
TOTAL FUNDS | 2,702,845 | (2,508,822 | ) | 194,023 |
13. | RELATED PARTY DISCLOSURES |
14. | COMPANY LIMITED BY GUARANTEE |
GEMAP Scotland Ltd is a company limited by guarantee and therefore has no share capital. |