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REGISTERED COMPANY NUMBER: SC220219 (Scotland)
REGISTERED CHARITY NUMBER: 031796














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 September 2024

for

SIGB Foundation Ltd.

SIGB Foundation Ltd.






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Notes to the Financial Statements 6 to 7

SIGB Foundation Ltd. (Registered number: SC220219)

Report of the Trustees
for the Year Ended 30 September 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 30 September 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are:

· The advancement of education of children and young persons who are in full time education by providing or assisting in the provision of facilities and opportunities which will enable them to take part in snow sport activities (including skiing and snowboarding and versions of these activities adapted for children) and thereby ensuring that due attention is given to their physical education.
· The organisation or provision (or assistance in the organisation or provision) of facilities for recreation in the interests of social welfare in any part of Scotland and elsewhere in the United Kingdom (with the object of improving the conditions of life for the persons for whom the facilities are primarily intended) either for persons who have need of such facilities by reason of their youth, age, infirmity or disablement, poverty or social or economic circumstances or for members of the public at large.

In furtherance of these objects, but not otherwise, the charity shall seek to:

· Obtain, collect and receive money and funds by way of contributions, subscriptions, affiliation fees, donations, legacies, grants or by organising functions or by any other lawful method and to accept and receive gifts of property of any description (whether subject to any special trust or not) and to administer and utilise such funds in furtherance of the said objectives provided that the company shall not undertake any permanent trading in raising funds.
· Provide full or part time courses (including residential courses) for teachers and coaches who organise or supervise playing and coaching of snow sport activities.
· Promote, provide or assist in the promotion and provision in Schools and Universities of courses for the purpose of training teachers and coaches in the coaching of snow sport activities.

FINANCIAL REVIEW
The results for the period and the financial position of the charity are shown in the annexed financial statements.

Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit.

FUTURE PLANS
The charity remained dormant for the year and is likely to be dormant for the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure
The board of trustees who meet every month, administers the charity. The board may delegate powers to any committee consisting of such trustee or trustees of the board as it thinks fit and may include in such committees persons who are not members of the board.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC220219 (Scotland)

Registered Charity number
031796


SIGB Foundation Ltd. (Registered number: SC220219)

Report of the Trustees
for the Year Ended 30 September 2024

Registered office
29 Brandon Street
Hamilton
ML3 6DA

Trustees
S P Noble (resigned 10.1.24)
Ms S Prior (resigned 10.1.24)
D Sawyer-Parker
S Wells (appointed 10.1.24)
T Nilson (appointed 10.1.24)

Company Secretary
D J Gourlay

Independent Examiner
Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Approved by order of the board of trustees on 3 January 2025 and signed on its behalf by:





D Sawyer-Parker - Trustee

Independent Examiner's Report to the Trustees of
SIGB Foundation Ltd.

I report on the accounts for the year ended 30 September 2024 set out on pages four to seven.

Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.








Robert Pollock CA
The Institute of Chartered Accountants of Scotland

Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

5 January 2025

SIGB Foundation Ltd.

Statement of Financial Activities
for the Year Ended 30 September 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM

Other income - 300
NET INCOME - 300


RECONCILIATION OF FUNDS
Total funds brought forward 1,151 851

TOTAL FUNDS CARRIED FORWARD 1,151 1,151

SIGB Foundation Ltd. (Registered number: SC220219)

Balance Sheet
30 September 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Cash at bank 1,151 1,151

NET CURRENT ASSETS 1,151 1,151

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,151

1,151

NET ASSETS 1,151 1,151
FUNDS 3
Unrestricted funds 1,151 1,151
TOTAL FUNDS 1,151 1,151

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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 3 January 2025 and were signed on its behalf by:





D Sawyer-Parker - Trustee

SIGB Foundation Ltd.

Notes to the Financial Statements
for the Year Ended 30 September 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.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.


3. MOVEMENT IN FUNDS
Net
At movement At
1.10.23 in funds 30.9.24
£    £    £   
Unrestricted funds
General fund 1,151 - 1,151

TOTAL FUNDS 1,151 - 1,151

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
TOTAL FUNDS - - -


SIGB Foundation Ltd.

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
At movement At
1.10.22 in funds 30.9.23
£    £    £   
Unrestricted funds
General fund 851 300 1,151

TOTAL FUNDS 851 300 1,151

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 300 - 300

TOTAL FUNDS 300 - 300

4. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2024.