ACCOUNTS - Final Accounts preparation

Registered number: SC283771

Charity number: SC036451

WINNING SCOTLAND
(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

WINNING SCOTLAND

CONTENTS

	Page
Reference and administrative details of the charity, its Management board and advisers	1
Management board's report	2 - 10
Independent auditors' report on the financial statements	11 - 14
Statement of financial activities	15
Balance sheet	16
Statement of cash flows	17
Notes to the financial statements	18 - 33

WINNING SCOTLAND

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS MANAGEMENT BOARD AND ADVISERS

FOR THE YEAR ENDED 30 JUNE 2025

Management board	Ms C L Simpson, Chair
	Mr W T Macnaughton
	Mr D Nisbet
	Ms C Tennant
	Ms C Grant
	Ms S Philp

Company registered number

SC283771

Charity registered number

SC036451

Registered office

21 Young St

Edinburgh

EH2 4HU

Company secretary

Ms Z Hedges

Chief executive officer

Ms Z Hedges

Independent auditors

Sumer Auditco Limited

Chartered Accountants

14 City Quay

Dundee

DD1 3JA

Page 1

WINNING SCOTLAND

MANAGEMENT BOARD'S REPORT

FOR THE YEAR ENDED 30 JUNE 2025

The management board present their annual report together with the audited financial statements of the charity for the year 1 July 2024 to 30 June 2025. The annual report serves the purposes of both a management board report and a directors’ report under company law. The management board confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

Winning Scotland aims to create a winning culture in Scotland through building confidence and resilience in its citizens with a primary focus on the benefit to children and/or young people through:

∙the advancement of education, including physical education

∙the advancement of health

∙the advancement of citizenship or community development

∙the instructing of research and development into the building of confidence and resilience and its contribution to creating a culture of increased achievement and or excellence and the making available to and use by the public of the results of such research

∙the promotion and carrying out of similar objects which are charitable at law and thereby bring about increased achievement and/or excellence in the wider community throughout Scotland.

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WINNING SCOTLAND

Objectives and activities (continued)

b. Strategies for achieving objectives

Winning Scotland's strategy seeks to strengthen and build capacity in the adults who are most influential on Scotland’s young people; teachers, coaches, carers, parents, families, schools and communities across Scotland.
In everything we do, we're always:

∙Committed to young people:

∙Collaborative in our approach

∙Pioneering in our delivery

∙Innovative in our solutions

We work in partnership with trusted and credible organisations to develop, test and evaluate practical, evidence based and effective programmes of learning and resources for different groups of influential adults. We operate in the space between the public, private and third sectors bringing people together, prompting new conversations and innovating collaboratively. Winning Scotland is a catalyst for change and our strategies are focused on having a positive impact on the lives of children and young people by creating a winning culture in Scotland that encourages resilience, confidence, and excellence.
This year our work has been supported by:

∙Changing Ideas Fund – Inspiring Scotland

∙Charles & Ruth Plowden

∙Corra Foundation

∙Cray Trust

∙Drum Property Group

∙Eric & Karen Young

∙Garfield Weston Foundation

∙Hugh Fraser Foundation

∙Jann & Tony Brown

∙John & Suzy McNeil

∙KPE4 Charitable Trust

∙Leckie Family Trust

∙Scott & Lucy Nisbet

∙Scottish Equity Partners

∙Scottish Government - Drugs Policy Unit

∙Simon Thomson

∙Stena Drilling

∙Tony & Elaine Halligan

and we have worked in partnership with:

∙Aberdeen City Council

∙Angus Council

∙Argyll & Bute Council

∙Argyll & Bute ADP

∙Clackmannanshire Council

∙Charlotte Street Partners

∙Dundee City Council

∙Education Scotland

∙Glasgow Caledonian University

∙Highland ADP

∙Hymans Robertson

∙ICAS Foundation

∙Institute of Directors

∙Inspiring Scotland

∙NHS Highland

∙NHS Tayside

∙North Lanarkshire Council

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WINNING SCOTLAND

Objectives and activities (continued)

∙Planet Youth

∙The Promise Partnership

∙Quantum Communications

∙Samtaler

∙Scottish Government

∙Scottish Violence Reduction Unit

∙Scottish Water

∙South Ayrshire Council

∙South Lanarkshire Council

∙South West Education Improvement Collaborative

∙University of Glasgow AGQ CDT

∙West Dunbartonshire Council

∙West Dunbartonshire Health & Social Care Partnership

We'd also like to express our gratitude to others who have collaborated closely with our team and supported our programmes, fundraising and charitable activities:

∙Sir Bill Gammell and Lady Janice Gammell

∙Arrivo Consulting

∙Bill Keil

∙Bobby Jones

∙Heather Coady

∙Jimmy Paul

∙Lee Davison

∙Mark Beaumont

∙Monica Smith

∙Professor Margaret Sutherland

∙Santiago Rincón-Gallardo

∙Sarah Philp

∙Scott Hay

∙Simon Seward

∙Steph Wright

∙Stuart Adams

∙Tamzin O’Malley

Page 4

WINNING SCOTLAND

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

We effect change by partnering, influencing and innovating. We robustly evaluate our activity and ensure that our work is evidence led.
This year, our activities included:

Planet Youth

We continued to lead the national coordination of Planet Youth in Scotland, supporting six local authority areas to use robust youth data and community insight to drive early intervention. With the end of the pilot phase approaching, this year marked a shift from data gathering to community-led action. Our role included one-to-one strategic coaching, peer learning facilitation, and brokering specialist consultancy to strengthen local implementation.

Through our support, local areas developed action plans rooted in prevention, community priorities and long-term outcomes. We also worked closely with the Scottish Government to extend pilot funding and co-develop a longer-term strategy for national scale. By year-end, Planet Youth had gained visibility across multiple directorates, with clear alignment to the Population Health Framework, public health policy, and antisocial behaviour strategies.

We shared our learning with global colleagues and featured in several national newspapers.

Transforming Mindset

Mindset remained a core area of delivery and innovation throughout the year. We experienced a drop in demand from primary and secondary schools, due to a mix of financial and capacity challenges in the sector. Despite this, we supported over 350 adults across Scotland equipping them with the knowledge and tools to promote growth mindset culture in their organisations and communities. This included work in education, care, youth employability and in community settings.

Key strands included:

∙Mindset in Care: We delivered training to over 100 professionals across residential and education settings in Dundee and South Lanarkshire. Evaluation of the residential strand showed:

°91% said the training helped them better understand how to help young people build confidence and resilience

°89% had already applied their learning

°87% intended to make lasting changes to their practice

A joint learning event brought together care and education staff to share insights, strengthen cross-sector understanding, and explore collective strategies for supporting care-experienced young people.

∙More Than Mindset: Delivered to 41 teachers in Aberdeen and Argyll & Bute, with 89% completing online modules and over 20 mindset-informed school-based projects developed as a result.

∙Employability and Parenting Pilots: We launched new pilots in youth employability (North Lanarkshire and South Ayrshire) and began scoping a parental employability programme in South Lanarkshire. These were co-designed with local authority teams in partnership with the Institute of Directors Scotland to reflect workforce priorities. Early feedback from practitioners highlighted increased confidence in using mindset strategies to support young people and families.

We expanded our Mindset Ambassador Network, which now includes over 900 trained professionals, many of whom continue to embed mindset approaches in their own settings and support others to do the same. We continued to provide mindset training to Scottish companies both to further our culture change work, and as a way of generating income for our core activity.

AI in Education

In 2025, we initiated an ambitious new pilot exploring if artificial intelligence might address persistent challenges in Scottish education, such as teacher workload, attainment gaps, and support for additional needs. With funding secured and wide national interest, we engaged nine local authorities in early scoping discussions and commissioned an independent evaluation partner to help shape a robust, ethical and inclusive design.

This early phase focusses on research, stakeholder engagement, and pilot design. It also led to the creation of an informal challenge and steering group, with representation from national agencies and expert individuals. The pilot is moving from concept to early implementation stage, establishing Winning Scotland as a credible

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WINNING SCOTLAND

Objectives and activities (continued)

convener in a complex and emerging space.

All mindset work was underpinned by our newly embedded Monitoring, Evaluation and Learning (MEL) Framework, allowing us to track behaviour change, reflect on impact, and adapt delivery in real time.

Innovation and influencing

As part of our mission to create culture change in Scotland, we brought people together throughout the year to collaborate, learn, innovate and share. This included our programme alumni (Mindset Ambassadors), working lunches with senior education leaders, care professionals, business leaders and philanthropists, and meetings with local and national politicians. We also featured on podcasts, contributed to sector publications and the national press, and gave keynote speeches to advance the conversation around prevention and resilience.

Key moments included a joint learning event for education and residential care staff involved in our Mindset in Care programme and organising a national panel on World Children’s Day exploring upstream approaches to wellbeing.

d. Future plans

The trustees have reflected on the charity’s activities during 2024–25 and remain committed to Winning Scotland’s mission of building confidence and resilience in Scotland’s young people by supporting the adults and communities who influence them.

Learning from recent work

∙Planet Youth: The pilot has shown that community-led action, when underpinned by robust data, can shift local priorities towards prevention. This has reinforced trustees’ commitment to early intervention and to investing in approaches that strengthen local capacity for long-term change.

∙Mindset Programmes: The varied uptake across sectors highlighted the challenge of relying solely on schools for culture change. Trustees have therefore endorsed a wider focus on care, employability and parenting, recognising that cross-sector delivery increases reach and sustainability.

∙AI in Education: The scoping work demonstrated both the appetite and the complexity of introducing technology ethically into education. Trustees see this as an opportunity for Winning Scotland to act as a credible convener, testing innovation responsibly while keeping young people’s needs at the centre.

∙Monitoring, Evaluation and Learning (MEL) Framework: Embedding this framework has strengthened real-time reflection and adaptation. Trustees will continue to prioritise resource allocation towards work that is evidence-led and demonstrably impactful.

Future direction
Building on these insights, trustees intend to:

∙Guide the development of a ten-year organisational vision, ensuring Winning Scotland remains agile and pioneering while securing long-term sustainability.

∙Focus resources on upstream, preventive approaches that engage families, carers and communities, not only schools, in order to embed cultural change more broadly.

∙Diversify income sources and strengthen fundraising readiness, so the charity can sustain and scale its most effective programmes.

∙Continue to invest in staff wellbeing, collaboration, and learning, recognising that an empowered team is critical to delivering our mission.

∙Position Winning Scotland as a national thought leader and trusted partner on prevention, resilience and innovation, influencing both practice and policy.

The trustees believe that these priorities will enable Winning Scotland to maximise its impact and allocate resources to their best effect, ensuring that the organisation remains resilient and relevant in the years ahead.

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WINNING SCOTLAND

Objectives and activities (continued)

e. Grant-making policies

Winning Scotland distributes Scottish Government funding to local partners solely for the implementation of the Planet Youth process. Grants must be used for additional posts and directly related activities (like meetings, materials, and travel), with all spend monitored, reported quarterly, and ineligible for existing staff salaries, rent, or unrelated costs

Page 7

WINNING SCOTLAND

Achievements and performance

Financial review

a. Going concern

After making appropriate enquiries, the Management Board continues to adopt the going concern basis in preparing the financial statements. Further details can be found in the accounting policies.

b. Reserves policy

We undertook a full review of our reserves policy and improved our financial planning tools and internal reporting, enabling greater clarity and responsiveness in budget management. The reserves policy is to establish a balance of unrestricted funds, equal to up to 6 months of current operating costs (excluding grants made to partners for Planet Youth).
Winning Scotland’s total reserves at 30 June 2025 amount to £277,323 (2024 - £298,721), of which £50,000 (2024 - £113,643) is restricted. The unrestricted funds amount to £227,323 (2024 - £185,078).
Free reserves are £227,323 (2024 - £179,861) which is represented by the unrestricted funds net of fixed assets and designated funds.

Structure, governance and management

a. Constitution

Winning Scotland is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

b. Corporate and governance

The management of the charity is the responsibility of the management board whose members are elected and co-opted under the terms of the Article of Association. No trustees received any remuneration or benefits during the reporting period. All trustees serve on a voluntary basis and are not compensated for their roles.
The Company has made qualifying third-party indemnity provisions for the benefit of its trustees which were made during the year and remain in force at the date of this report.

In 2024-2025, the trustees identified and reviewed the major risks to which the charity is exposed and established appropriate systems to mitigate those risks. We focused on strengthening the foundations of the charity to support long-term impact and sustainability. We initiated the development of a ten-year organisational vision, to guide strategic decision-making and ensure we maximise our impact. This process has been underpinned by active engagement with our board and staff and will shape the next phase of our work.
We also invested in a new organisational website, helping us better communicate the breadth and depth of our work to funders, partners and the public.
We took steps to diversify our income and improve our fundraising readiness, supported by clearer messaging, improved impact evidence and investment in strategic funder relationships.
Internally, we prioritised our team’s wellbeing and ways of working, embedding regular reflection on collaboration, psychological safety, and adaptive learning. This included dedicated sessions on internal culture, clarity of purpose, and working together in alignment with our values.

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WINNING SCOTLAND

Structure, governance and management (continued)

c. Financial risk management

The Management board have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Statement of Management board's responsibilities

The Management board (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Management board's 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 Management board to prepare financial statements for each financial year. Under company law, the Management board must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Management board are required to:

∙select suitable accounting policies and then apply them consistently;

∙observe the methods and principles of the Charities SORP (FRS 102);

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

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

The Management board are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.

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WINNING SCOTLAND

Statement of Management board's responsibilities (CONTINUED)

Disclosure of information to auditors

Each of the persons who are members of the management board at the time when this management board report is approved has confirmed that:

∙so far as that member is aware, there is no relevant audit information of which the charity's auditors are unaware, and

∙that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

Small Companies Note

In preparing this report, the board members have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

Approved by order of the members of the board of Management board on 18 September 2025 and signed on their behalf by:

Ms C L Simpson

Chair of Management board

Page 10

WINNING SCOTLAND

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WINNING SCOTLAND

Opinion

We have audited the financial statements of Winning Scotland (the 'charity') for the year ended 30 June 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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 30 June 2025 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 United Kingdom, including the Financial Reporting Council'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 Management board's 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 Management board with respect to going concern are described in the relevant sections of this report.

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WINNING SCOTLAND

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WINNING SCOTLAND (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Management board are responsible for the other information contained within the Annual report. 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. 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.

Opinion 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 Management board's report for the financial year for which the financial statements are prepared is consistent with the financial statements.

∙the Management board's report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 Management board's report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require 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 Management board's remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the Management board were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Management board's report and from the requirement to prepare a Strategic report.

Responsibilities of trustees

As explained more fully in the Management board's responsibilities statement, the Management board (who are also the directors of the charitable company for the purposes 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 Management board 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 Management board 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 Management board either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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WINNING SCOTLAND

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WINNING SCOTLAND (CONTINUED)

Auditors' 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 under the Companies Act 2006 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 Auditors' 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud or non-complaince with laws and regulations is higher than the risk of not detecting one resulting from error.
We focused on laws and regulations which could give rise to a material misstatement in the financial statements,
including, but not limited to, the Companies Act 2006, the Charities and Trustees Investment Act (Scotland) 2005 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the board or management that represented a risk of material misstatement due to fraud.

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 Auditors' report.

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WINNING SCOTLAND

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WINNING SCOTLAND (CONTINUED)

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 Management board 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, its members, as a body, and its trustees, as a body for our audit work, for this report, or for the opinions we have formed.

Douglas Rae (Senior statutory auditor)

for and on behalf of

Sumer Auditco Limited

Chartered Accountants

Statutory Auditors

14 City Quay

Dundee

DD1 3JA

19 September 2025

Sumer Auditco Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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WINNING SCOTLAND

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 30 JUNE 2025

	Unrestricted funds 2025	Restricted funds 2025	Total funds 2025	Total funds 2024
Note	£	£	£	£

Income from:
Donations and legacies	3	290,196	630,185	920,381	878,515
Charitable activities	4	73,475	-	73,475	114,332
Other trading activities	5	17,712	-	17,712	23,354
Bank interest		5,137	-	5,137	5,900
Total income		386,520	630,185	1,016,705	1,022,101

Expenditure on:
Raising funds	6	86,399	-	86,399	117,407
Charitable activities	7	257,876	693,828	951,704	943,586
Total expenditure		344,275	693,828	1,038,103	1,060,993

Net movement in funds

42,245

(63,643)

(21,398)

(38,892)

Reconciliation of funds:
Total funds brought forward	185,078	113,643	298,721	337,613
Net movement in funds	42,245	(63,643)	(21,398)	(38,892)
Total funds carried forward	227,323	50,000	277,323	298,721

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

The notes on pages 18 to 33 form part of these financial statements.

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WINNING SCOTLAND

REGISTERED NUMBER: SC283771

BALANCE SHEET

AS AT 30 JUNE 2025

			2025		2024
	Note		£		£

Fixed assets
Tangible assets	13		-		5,217
			-		5,217
Current assets
Debtors	14	57,910		203,829
Cash at bank and in hand		340,476		357,087
		398,386		560,916
Current liabilities
Creditors: amounts falling due within one year	15	(121,063)		(242,487)
Net current assets			277,323		318,429
Provisions for liabilities			-		(24,925)
Total net assets			277,323		298,721

Charity funds
Restricted funds	17	50,000	113,643
Unrestricted funds	17	227,323	185,078
Total funds		277,323	298,721

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

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

The financial statements were approved and authorised for issue by the Management board on 18 September 2025 and signed on their behalf by:

Ms C L Simpson Chair
The notes on pages 18 to 33 form part of these financial statements.

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WINNING SCOTLAND

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2025

				2025	2024
			Note	£	£

Cash flows from operating activities
Net cash used in operating activities	20	(21,748)	41,399
Cash flows from investing activities
Bank interest received		5,137	5,900
Net cash provided by investing activities		5,137	5,900

Cash flows from financing activities
Net cash provided by financing activities		-	-

Change in cash and cash equivalents in the year		(16,611)	47,299
Cash and cash equivalents at the beginning of the year		357,087	309,788
Cash and cash equivalents at the end of the year	21	340,476	357,087

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WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1.	General information

Winning Scotland is a charitable company limited by guarantee, incorporated in Scotland with registration number SC283771. The address of the registered office is Nexus Business Space, 21 Young St, Edinburgh, EH2 4HU.
The accounts are presented in pounds sterling, which is the functional currency of the charitable company, rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Companies Act 2006.

Winning Scotland 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.
The charity's functional and presentational currency is GBP.

2.2

Going concern

Having considered the information available to them, the management board believes there are no material uncertainties over the charitable company's ability to continue as a going concern for the foreseeable future.

2.3

Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income from charitable activities is recognised based on the completion of the contract, which is measured by the stage of completion of the course delivery following agreed milestones.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)


	2.4	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 allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of financial activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.

2.6

Interest receivable

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 institution with whom the funds are deposited.

2.7

Tangible fixed assets and depreciation

Tangible fixed assets costing £1000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 19

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.7

Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Computer equipment

25%

Straight line

2.8

Financial instruments

The charity only has financial assets and financial 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 bank loans which are subsequently measured at amortised cost using the effective interest method.

2.9

Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.10

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Management board in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 20

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

3.	Income from donations and legacies

		Unrestricted funds 2025	Restricted funds 2025	Total funds 2025	Total funds 2024
		£	£	£	£

Donations
Scottish Equity Partners	25,000	-	25,000	25,000
Gift Aid	28,687	-	28,687	18,739
Grants
Corra Foundation	-	-	-	121,400
Drum Property Group	25,000	-	25,000	25,000
Garfield Weston Foundation	30,000	-	30,000	30,000
Inspiring Scotland	-	20,000	20,000	-
Nisbet Charitable Trust	-	25,000	25,000	-
Government grants
Scottish Government	97,500	570,185	667,685	579,102
Other donations	68,009	15,000	83,009	55,274
Other grants	16,000	-	16,000	24,000
	290,196	630,185	920,381	878,515
Total 2024	262,188	616,327	878,515

Other donations represent donations from private individuals, who are acknowledged in the Management board’s report.

4.	Income from charitable activities

		Unrestricted funds 2025	Total funds 2025	Total funds 2024
		£	£	£


Mindset in Education	10,475	10,475	35,831
Mindset in Care	-	-	16,000
Planet Youth	63,000	63,000	62,501
	73,475	73,475	114,332
Total 2024	114,332	114,332

Page 21

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Income from other trading activities

Income from non charitable trading activities

	Unrestricted funds 2025	Total funds 2025	Total funds 2024
	£	£	£


Delivery of mindset training to commercial partners	17,712	17,712	23,354
Total 2024	23,354	23,354

Expenditure on raising funds

Fundraising expenses

	Unrestricted funds 2025	Total funds 2025	Total funds 2024
	£	£	£


Fundraising expenses	925	925	1,164
Wages and salaries	76,313	76,313	104,234
National Insurance	6,368	6,368	8,748
Pension costs	2,525	2,525	3,261
Allocated centrally incurred fundraising and governance costs	268	268	-
	86,399	86,399	117,407
Total 2024	117,407	117,407

Page 22

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

7.	Analysis of expenditure on charitable activities
	Summary by fund type

		Unrestricted funds 2025	Restricted funds 2025	Total 2025	Total 2024
		£	£	£	£


Artificial Intelligence	16,194	-	16,194	-
Mindset in Education	86,104	-	86,104	119,690
Mindset in Care	10,947	113,643	124,590	78,910
Mindset in Early Years	-	-	-	75,538
On Our Marks	-	-	-	28,570
Planet Youth	144,631	580,185	724,816	587,694
Innovation and Research	-	-	-	3,909
Marketing and Communications	-	-	-	49,275
	257,876	693,828	951,704	943,586
Total 2024	338,142	605,444	943,586

8.	Analysis of expenditure by activities

		Activities undertaken directly 2025	Grant funding of activities 2025	Support costs 2025	Total funds 2025	Total funds 2024
		£	£	£	£	£


Artificial Intelligence	13,320	-	2,874	16,194	-
Mindset in Education	73,176	-	12,928	86,104	119,690
Mindset in Care	105,916	-	18,674	124,590	78,910
Mindset in Early Years	-	-	-	-	75,538
On Our Marks	-	-	-	-	28,570
Planet Youth	233,434	382,209	109,173	724,816	587,694
Innovation and Research	-	-	-	-	3,909
Marketing/comms	-	-	-	-	49,275
	425,846	382,209	143,649	951,704	943,586
Total 2024	592,165	285,208	66,213	943,586

Page 23

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

8.Analysis of expenditure by activities (continued)

Analysis of support costs

	AI 2025	Mindset in Education 2025	Mindset in Care 2025	Mindset in Early Years 2025	On our Marks 2025
	£	£	£	£	£


Overhead costs	2,393	10,764	15,550	-	-
Governance costs	481	2,164	3,124	-	-
	2,874	12,928	18,674	-	-
Total 2024	-	11,919	6,621	8,608	1,986


Planet Youth 2025	Marketing/ comms 2025	Total funds 2025	Total funds 2024
£	£	£	£


Overhead costs	90,905	-	119,612	47,399
Governance costs	18,268	-	24,037	18,814
	109,173	-	143,649	66,213
Total 2024	23,174	13,905	66,213

Page 24

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

9.	Grants payable

As part of Winning Scotland's partnership approach to achieving its objectives, grants were made to local authorities involved in the Planet Youth project as follows:

	Restricted funds	Total funds	Total funds
	2025	2025	2024
	£	£	£
Angus Council	17,241	17,241	25,000
Argyll and Bute Council	55,605	55,605	29,481
Clackmannanshire Council	83,932	83,932	35,915
Dundee City Council	75,000	75,000	37,402
NHS Highland	75,431	75,431	107,410
West Dunbartonshire HSCP	75,000	75,000	50,000

Total 2025	382,209	382,209	285,208

Total 2024	285,208	285,208

10.	Auditors' remuneration
		2025	2024
		£	£

Fees payable to the charity's auditor for the audit of the charity's annual accounts	5,625	5,429
Fees payable to the charity's auditor in respect of:
All non-audit services not included above	4,625	4,463

11.	Staff costs
		2025	2024
		£	£


Wages and salaries	333,247	449,651
Social security costs	28,010	41,847
Contribution to defined contribution pension schemes	11,145	15,601
	372,402	507,099

Included in Wages and salaries are redundancy payments of £nil (2024 - £10,500).

Page 25

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

11.Staff costs (continued)

The average number of persons employed by the charity during the year was as follows:
	2025	2024
	No.	No.


	Employees	8	11

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
	2025	2024
	No.	No.


In the band £60,001 - £70,000	1	1
In the band £70,001 - £80,000	-	1

The total amount of employee benefits received by key management personnel is £129,142 (2024 - £184,630).

12.	Management board's remuneration and expenses
	During the year, no members of the Management board received any remuneration or other benefits (2024 - £NIL).

During the year ended 30 June 2025, no Management board members' expenses have been incurred (2024 - £NIL).

Page 26

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

13.	Tangible fixed assets

		Computer equipment
		£
Cost or valuation
At 1 July 2024		14,028
At 30 June 2025		14,028
Depreciation
At 1 July 2024		8,811
Charge for the year		5,217
At 30 June 2025		14,028
Net book value
At 30 June 2025		-
At 30 June 2024		5,217

14.	Debtors
		2025	2024
		£	£


Due within one year
Trade debtors	53,000	198,753
Prepayments and accrued income	4,910	5,076
	57,910	203,829

Page 27

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025


15.	Creditors: Amounts falling due within one year
		2025	2024
		£	£


Trade creditors	27,013	145,126
Other taxation and social security	6,512	19,635
Other creditors	2,330	5,039
Accruals and deferred income	85,208	72,687
	121,063	242,487

Deferred income relates to contract income received in advance of the delivery of services which had not been completed by 30 June 2025.
	2025	2024
	£	£


Deferred income at 1 July 2024	51,875	46,781
Resources deferred during the year	67,875	51,875
Amounts released from previous periods	(51,875)	(46,781)
	67,875	51,875

16.	Provisions

		Settlement provision
		£

	At 1 July 2024	24,925
	Additions	(24,925)
		-

Page 28

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

17.

Statement of funds

Statement of funds - current year
	Balance at 1 July 2024 £	Income £	Expenditure £	Balance at 30 June 2025 £
Unrestricted funds

General Fund

185,078

386,520

(344,275)

227,323

Restricted funds
Mindset in Care	113,643	-	(113,643)	-
Mindset in Employability	-	5,000	-	5,000
Planet Youth	-	580,185	(580,185)	-
Artificial Intelligence	-	45,000	-	45,000
	113,643	630,185	(693,828)	50,000

Total of funds

298,721

1,016,705

(1,038,103)

277,323

Page 29

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

17.

Statement of funds (continued)

Statement of funds - prior year
	Balance at 1 July 2023 £	Income £	Expenditure £	Balance at 30 June 2024 £
Unrestricted funds

General Fund

234,853

405,774

(455,549)

185,078

Restricted funds
Mindset in Care	28,260	131,400	(46,017)	113,643
On our Marks	14,500	1,500	(16,000)	-
Planet Youth	60,000	470,227	(530,227)	-
Matthew Syed event	-	13,200	(13,200)	-
	102,760	616,327	(605,444)	113,643

Total of funds

337,613

1,022,101

(1,060,993)

298,721

Restricted funds:
Mindset in Care
The fund supports the design, development and operation of a mindset programme specifically within the context of young people living in care.
On Our Marks
The fund supports the On Our Marks project, which helps communities become healthier by supporting schools and families to be more physically active.
Planet Youth
This new initiative follows the Icelandic Model of public health prevention designed to identify and address the risk-taking behaviours of young people, and to pilot this model in Scotland and to stimulate new fundraising relationships.
Matthew Syed Event
An event was held with Matthew Syed to promote the mindset activities of Winning Scotland. Two donations were received towards the costs of this event.
Mindset in Employability
The fund supports the exploration of a mindset programme to support employability.
Artificial Intelligence
The fund supports the investigation of the use of Artificial Intelligence to address recurring and significant issues in the field of education in Scotland.

Page 30

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

18.

Summary of funds

		Summary of funds - current year
			Balance at 1 July 2024 £	Income £	Expenditure £	Balance at 30 June 2025 £

General funds	185,078	386,520	(344,275)	227,323
Restricted funds	113,643	630,185	(693,828)	50,000
	298,721	1,016,705	(1,038,103)	277,323

		Summary of funds - prior year
			Balance at 1 July 2023 £	Income £	Expenditure £	Balance at 30 June 2024 £

General funds	234,853	405,774	(455,549)	185,078
Restricted funds	102,760	616,327	(605,444)	113,643
	337,613	1,022,101	(1,060,993)	298,721

19.

Analysis of net assets between funds

Analysis of net assets between funds - current year
	Unrestricted funds 2025	Restricted funds 2025	Total funds 2025
	£	£	£

Current assets	348,386	50,000	398,386
Creditors due within one year	(121,063)	-	(121,063)
Total	227,323	50,000	277,323

Page 31

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

19.Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year
	Unrestricted funds 2024	Restricted funds 2024	Total funds 2024
	£	£	£

Tangible fixed assets	5,217	-	5,217
Current assets	447,273	113,643	560,916
Creditors due within one year	(242,487)	-	(242,487)
Provisions for liabilities and charges	(24,925)	-	(24,925)
Total	185,078	113,643	298,721

20.	Reconciliation of net movement in funds to net cash flow from operating activities
		2025	2024
		£	£

Net expenditure for the year (as per Statement of Financial Activities)	(21,398)	(38,892)
Adjustments for:
Depreciation charges	5,217	3,117
Decrease/(increase) in debtors	145,919	(79,885)
Increase/(decrease) in creditors	(121,424)	138,034
Movement in provisions	(24,925)	24,925
Bank interest received	(5,137)	(5,900)
Net cash provided by/(used in) operating activities	(21,748)	41,399

21.	Analysis of cash and cash equivalents
		2025	2024
		£	£

	Cash in hand	340,476	357,087
	Total cash and cash equivalents	340,476	357,087

Page 32

WINNING SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

22.	Analysis of changes in net debt

		At 1 July 2024	Cash flows	At 30 June 2025
		£	£	£

	Cash at bank and in hand	357,087	(16,611)	340,476
		357,087	(16,611)	340,476

23.	Pension commitments

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pensions cost charge represents contributions payable by the charity to the fund and amounted to £11,145 (2024 - £15,601). At the balance sheet date, contributions totalling £1,711 (2024 - £2,090) were payable to the fund.

24.	Related party transactions
	The charity received aggregate donations of £nil (2024 - £10,000) without conditions from members of the Management Board and their related parties during the year. There were no other related party transactions which require disclosure in the current or prior year.

Page 33