| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| THE RUBY TRUST |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| THE RUBY TRUST |
| THE RUBY TRUST |
| 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 | 9 |
| THE RUBY TRUST (REGISTERED NUMBER: SC231679) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| The trustees present their annual trustees' report together with the financial statements of the charity for the year ending 30th September 2024 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes. |
| The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, 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). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| To advance education and promote training, with particular reference to skills which will assist the participants in obtaining paid employment or which will be of direct relevance to the tasks performed by the participants in the course of their employment. |
| To relieve unemployment for the public benefit in such ways as may be thought fit, including assistance to find employment. |
| To advise and assist individuals in obtaining employment, developing a career or pursuing additional training, work experience and/or further education. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| During the year under review, the trust made no donations (2023 - £nil) |
| FINANCIAL REVIEW |
| Principal funding sources |
| During the year, the trust received no donations (2023 - £nil). |
| Reserves policy |
| The trustees will ensure that procedures are in place to maintain sufficient unrestricted reserves adequate for the charity's working capital needs. |
| FUTURE PLANS |
| The trust will use the funds available to put in place a programme suitable to achieve its long term goals. Specifically grants are to be made available to young people emerging from care to enable them to access courses which will offer excellence in education. |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| 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. |
| The charity is constituted as a company limited by guarantee and is therefore governed by its Memorandum and Articles of Association. The liability of members in the event of the company being wound up is limited to £1.00. The income of the company is applied solely towards the promotion of the objects of the company. |
| Recruitment and appointment of new trustees |
| The recruitment and appointment of new trustees is as set out in the Memorandum and Articles of Association. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| THE RUBY TRUST (REGISTERED NUMBER: SC231679) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Alex Webb BAcc FCCA |
| Azets Audit Services |
| Chartered Accountant |
| Titanium 1 |
| King's Inch Place |
| Renfrew |
| Glasgow |
| PA4 8WF |
| Bankers |
| Leicester |
| Leicestershire |
| LE87 2BB |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| THE RUBY TRUST |
| I report on the accounts for the year ended 30 September 2024 set out on pages four to nine. |
| 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. |
| Alex Webb BAcc FCCA |
| The Association of Chartered Certified Accountants |
| Azets Audit Services |
| Chartered Accountant |
| Titanium 1 |
| King's Inch Place |
| Renfrew |
| Glasgow |
| PA4 8WF |
| 14 May 2025 |
| THE RUBY TRUST |
| STATEMENT OF FINANCIAL ACTIVITIES |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Other income |
| EXPENDITURE ON |
| Other |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 27,867 |
| THE RUBY TRUST (REGISTERED NUMBER: SC231679) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 5 |
| Unrestricted funds | 27,867 |
| TOTAL FUNDS | 27,867 |
| 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 |
| THE RUBY TRUST |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. |
| The Ruby Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). |
| Preparation of accounts on a going concern basis |
| The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. There were no significant areas of adjustment and with respect to the next reporting period, no significant areas of uncertainty. |
| Income |
| Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. |
| Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. |
| Expenditure |
| Expenditure is recognised once there is a legal or constructive 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 classified under the following activity headings: |
| - Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity, payments to beneficiaries and their associated support costs. |
| - Other expenditure represents those items not falling into any other heading. |
| Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. |
| 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 back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated to expenditure on charitable activities. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds are available to spend on activities that further any of the purposes of the charity. |
| Debtors |
| Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due. |
| Cash at bank and in hand |
| Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
| THE RUBY TRUST |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 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. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted |
| fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Other income |
| EXPENDITURE ON |
| Other |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 27,867 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Prepayments and accrued income |
| 5. | MOVEMENT IN FUNDS |
| Net |
| At | movement | At |
| 1/10/23 | in funds | 30/9/24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 27,867 | 340 | 28,207 |
| TOTAL FUNDS | 340 | 28,207 |
| THE RUBY TRUST |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 5. | 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 | 761 | (421 | ) | 340 |
| TOTAL FUNDS | ( |
) | 340 |
| Comparatives for movement in funds |
| Net |
| At | movement | At |
| 1/10/22 | in funds | 30/9/23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 28,174 | (307 | ) | 27,867 |
| TOTAL FUNDS | 28,174 | (307 | ) | 27,867 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 504 | (811 | ) | (307 | ) |
| TOTAL FUNDS | 504 | (811 | ) | (307 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| At | movement | At |
| 1/10/22 | in funds | 30/9/24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 28,174 | 33 | 28,207 |
| TOTAL FUNDS | 28,174 | 33 | 28,207 |
| THE RUBY TRUST |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 5. | MOVEMENT IN FUNDS - continued |
| 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 | 1,265 | (1,232 | ) | 33 |
| TOTAL FUNDS | 1,265 | (1,232 | ) | 33 |
| 6. | RELATED PARTY DISCLOSURES |