Charity registration number SC053073 (Scotland)
Company registration number SC601424 (Scotland)
REALLY REAL RESOURCES
(A company Limited by Guarantee)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
REALLY REAL RESOURCES
Legal And Administrative Information
Trustees
Mr G G M Miller
Ms M Ferguson
(Appointed 23 November 2023)
Ms E Sutherland
(Appointed 27 December 2024)
Mr L E Wilkes
Charity number (Scotland)
SC053073
Company number
SC601424
Registered office
Southerton
Dalginross
Comrie
PH6 2EG
Independent examiner
Condie & Co Limited trading as Dains
10 Abbey Park Place
Dunfermline
Fife
KY12 7NZ
REALLY REAL RESOURCES
Contents
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Statement of financial position
5
Notes to the financial statements
6 - 11
REALLY REAL RESOURCES
Trustees' Report (Including Directors' Report)
For The Year Ended 30 September 2024
- 1 -

The Trustees present their annual report and financial statements for the year ended 30 September 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1.1 to the accounts and comply with the Charity's Memorandum and 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).

Objectives and activities

The Trustee's main aims of the charity are to promote a public understanding and appreciation of photography as an art and a means of communication, in particular to raise awareness of the challenges faced by the most vulnerable in society through the use of the highest quality documentary material including stills photography, video and audio. As well as to advance equality, diversity, challenge thinking, increase awareness, seek to increase inclusion and reduce stigma. The charity also aims to advance education through the creation of educational packages which highlight the challenges faced by the most vulnerable in society encouraging inclusiveness.

The Trustees have paid due regard to guidance issued by OSCR in deciding what activities the Charity should undertake.

Achievements and performance

During our first year The Trustees have focussed on developing our educational materials in conjunction with the charity Down's Syndrome Scotland. The Trustees have reached agreement to run a pilot within 4 Aberdeenshire Schools and now have a formal agreement with full ethics approval with St Andrews University Centre for Minorities Research. The Trustees have secured an initial funding connection with the Northwood Trust who committed to £10,000 in year one and a further £10,000 in year two. The Trustees fund raising efforts have been modest as we confirm the potential of our concept. The outlook is positive.

Financial review

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 six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained and due to the fund raising efforts of The Trustees, the charity has secured £10,000 of funding for each of the next two years and so The Trustees are confident that the charity will be able to maintain this level of reserves going forward.

Plans for future periods

Our pilot trial has reached 220 pupils and the impact has been positive. St Andrews will now produce a report, white paper and other collateral so that The Trustees can report our success and encourage broader uptake across Aberdeenshire Council and other areas. The Trustees have had an initial meeting with a representative of Education Scotland. Our findings will be presented at a major Scottish conference on learning difficulties in October 25. The Trustees are now starting our planning to add our first employee and working with schools to fine tune our educational packs. The Trustees are very excited by the future as The Trustees have shown our concept is effective, unique and that it has an impact on empathy around diversity and inclusion in schools.

Structure, governance and management

The Charity is a company limited by guarantee without share capital.

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 G G M Miller
Ms M Ferguson
(Appointed 23 November 2023)
Ms E Sutherland
(Appointed 27 December 2024)
Mr L E Wilkes
REALLY REAL RESOURCES
Trustees' Report (Including Directors' Report) (Continued)
For The Year Ended 30 September 2024
- 2 -

Michelle Ferguson was known to the founding Trustee as she photographed her daughter who has Down's Syndrome. Michelle is former chair of Down's Syndrome Scotland and so brings great understanding and compassion to the role. She recently retired as fund raiser for Radio Northsound children's charity and is helping us to fund raise.

 

Elaine Sutherland has over 30 years of experience in HR with a global company. She has also retired and the founding Trustee knew her from his main employment.

 

Leon Wilkes has helped since the early formation of Really Real Resources.

 

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The charity's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code

(copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

 

The charity's current policy concerning the payment of trade creditors is to:

 

 

At the year end the charity was not due to pay anything to it's trade creditors.

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

Mr G G M Miller
25 June 2025
REALLY REAL RESOURCES
Independent Examiner's Report
To The Trustees Of Really Real Resources
- 3 -

I report on the financial statements of the Charity for the year ended 30 September 2024, which are set out on pages 4 to 11.

Respective responsibilities of Trustees and examiner

The Charity’s Trustees, who are also the directors of Really Real Resources for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the 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 financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Jason Condie
Independent Examiner
For and on behalf of Condie & Co Limited trading as Dains
10 Abbey Park Place
Dunfermline
Fife
KY12 7NZ
Dated: 25 June 2025
REALLY REAL RESOURCES
Statement Of Financial Activities
Including Income And Expenditure Account
For The Year Ended 30 September 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
9,025
5,560
Expenditure on:
Raising funds
4
169
-
Charitable activities
5
4,375
8,818
Total expenditure
4,544
8,818
Net income/(expenditure) for the year/
Net movement in funds
4,481
(3,258)
Fund balances at 1 October 2023
(726)
2,532
Fund balances at 30 September 2024
3,755
(726)

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.
REALLY REAL RESOURCES
Statement Of Financial Position
As At 30 September 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
9
748
-
Current assets
Cash at bank and in hand
5,223
6,614
Creditors: amounts falling due within one year
10
(2,216)
(7,340)
Net current assets/(liabilities)
3,007
(726)
Total assets less current liabilities
3,755
(726)
Income funds
Unrestricted funds
3,755
(726)
3,755
(726)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

Directors' responsibilities:

 

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 25 June 2025
Mr G G M Miller
Trustee
Company registration number SC601424
REALLY REAL RESOURCES
Notes To The  Financial Statements
For The Year Ended 30 September 2024
- 6 -
1
Accounting policies
Charity information

Really Real Resources is a private company limited by guarantee incorporated in Scotland. The registered office is Southerton, Dalginross, Comrie, PH6 2EG.

1.1
Reporting period

These financial statements represent a year from 1 October 2023 to 30 September 2024. The comparatives represent a period from 1 August 2022 to 30 September 2023 and as such the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

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

 

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

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

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

1.3
Going concern

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

1.4
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.

1.5
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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

REALLY REAL RESOURCES
Notes To The  Financial Statements (Continued)
For The Year Ended 30 September 2024
1
Accounting policies
(Continued)
- 7 -
1.6
Expenditure

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

 

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

1.7
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:

Computers
33% Reducing balance

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

1.8
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).

1.9
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.

1.10
Taxation

Really Real Resources is exempt from tax on income and gains fully within section 505 of the Tax Act 1988 or Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to charitable objectives.

1.11

Creditors and provisions

Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

REALLY REAL RESOURCES
Notes To The  Financial Statements (Continued)
For The Year Ended 30 September 2024
- 8 -
2
Critical accounting estimates and judgements

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

 

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

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
3,101
-

Grant income

5,924
5,560
9,025
5,560
4
Raising funds
Unrestricted
Total
funds
2024
2023
£
£
Fundraising and publicity
Advertising
169
-
169
-
REALLY REAL RESOURCES
Notes To The  Financial Statements (Continued)
For The Year Ended 30 September 2024
- 9 -
5
Charitable activities

Costs of generating voluntary income

 

Costs of generating voluntary income

 

2024
2023
£
£
Depreciation and impairment
44
-

Website development

148
1,100

Sundry expenses

157
-

Printing & stationery

1,016
-

IT costs

759
606

Staff training

215
-

Telephone

72
83

Consultancy

650
5,940

Rent

-
672
3,061
8,401
Share of governance costs (see note 6)
1,314
417
4,375
8,818
6
Support costs
Support costs
Governance costs
2024
2023
£
£
£
£
Accountancy
-
1,314
1,314
417
-
1,314
1,314
417
Analysed between
Charitable activities
-
1,314
1,314
417
7
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
REALLY REAL RESOURCES
Notes To The  Financial Statements (Continued)
For The Year Ended 30 September 2024
- 10 -
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
9
Tangible fixed assets
Computers
£
Cost
Additions
792
At 30 September 2024
792
Depreciation and impairment
Depreciation charged in the year
44
At 30 September 2024
44
Carrying amount
At 30 September 2024
748

 

10
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,016
6,940
Accruals and deferred income
1,200
400
2,216
7,340
11
Analysis of net assets between funds
Unrestricted funds
Unrestricted funds
2024
2023
£
£
Fund balances at 30 September 2024 are represented by:
Tangible assets
748
-
Current assets/(liabilities)
3,007
(726)
3,755
(726)
REALLY REAL RESOURCES
Notes To The  Financial Statements (Continued)
For The Year Ended 30 September 2024
- 11 -
12
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

REALLY REAL RESOURCES
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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