The Trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the 's [governing document], 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)" (effective 1 January 2019).
Since the company 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.
Insights Foundation was incorporated on 16 January 2020 however, did not operate until April 2023.
The Foundation’s objectives are:
To advance citizenship by supporting the leadership and organisational development of charitable and other voluntary organisations and to provide relief to those in need by reason of age, ill health, disability or another disadvantage.
Our aim is to support the local communities in which we live and work. We primarily focus our support in areas that leverage our capabilities in strengthening organisations. We strive to maximise the impact of our resource investment through our unique skills and expertise, donations and in-kind donations through the talent of our partners, licensed practitioners and Foundation Guardians.
Generally, support will be made to eligible charities, community groups and non-profit organisations by offering positive life learning and development for those individuals and groups who would not ordinarily be able to access Insights people development solutions.
Grants are awarded based on charities in need with whom we work in partnership.
The charity achieves its objectives through the skills and expertise of the Foundation Guardians and the wider Insights community, managed by an operations team who work within the governance structure of the Insights Foundation.
Insights Foundation was set up in January 2020 and became operational in April 2023 to advance citizenship through supporting the leadership and organisational development of charitable and other voluntary organisations. We work with the leadership to understand how they might benefit from our expertise, to understand themselves and others better, enabling an effective team to achieve their objectives in serving others. In 2023/24 we engaged with 12 charities and supported around 223 changemakers.
Between April 2024 and March 2025, The Insights Foundation supported 130 charitable organisations, reaching around 2,700 changemakers working across the not-for-profit sector. These individuals play a vital role in strengthening their organisations and the communities they serve.
Of the 130 organisations we supported, 46% were based in the UK, 15% in Europe, 29% in North America, 6% in Africa and 4% in Asia.
Through our partnerships, we contributed to a wide range of causes within our focus areas of education, youth, wellbeing, and welfare. This included, for example supporting programmes that build young peoples confidence and resilience, initiatives that promote positive mental health and wellbeing, and services providing care and support to families facing hardship.
In the year to 31/3/24 we awarded funding of £313,435 to fund activities, advice services and projects that contribute to;
Promoting the rights and voice of children in care
Access to education by feeding 5200 schoolchildren for a year in partnership with Mary’s Meals
A safe rehabilitative living environment and expert support for vulnerable people through our contribution to the Dundee recovery village
As at 31st of March 2025, the charity held total reserves of £1,126,274 (2024 - £1,095,062) all of which were unrestricted for use as the Trustees see fit.
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
The trustees have established a policy for unrestricted reserves, the policy is to maintain unrestricted reserves at a level equating to the Charity’s operating costs for the following financial year excluding grant awards. The current level of unrestricted reserves is £1,126,553 and is considered adequate and in line with this policy. The principal funding sources of the charity were Donations from the Insights group.
Principal risks and uncertainties
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks. Insurable risks are appropriately covered. The trustees take seriously the duties and responsibilities placed upon them.
In 2025/26 we will continue to grow the Foundation to match the increasing scale of our reach - both in terms of the geographical spread of the charities we support and the growing number of organisations and changemakers we work alongside. Alongside this growth, we will also focus on expanding our volunteer community and building longer-term collaborations with charities who are within the aims of our strategy.
Insights Foundation is a Scottish Charitable Incorporated Organisation, established in 2020 and governed by a board of Trustees.
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:
The trustees were appointed in accordance with good practice and for the expertise they can bring for the governance and running of the charity.
The trustees are responsible for;
Governance and providing strategic guidance.
Protecting the integrity of the charity, recognising its uniqueness to the Insights Group’s commercial business.
Understanding the separation of governance and management and is clear that its focus is on strategy, performance and assurance and that day-to-day responsibility for the running of the Foundation is delegated to the operational team.
Operating as a collective body, making decisions through discussion and consensus. The Chairperson, alongside other trustees, works to maintain transparency and a strong sense of purpose within the board, ultimately guiding the Foundation toward its mission of making a positive social impact.
Key Management
The Insights Foundation trustees constitute the key management personnel of the charitable company, exercising the necessary direction, control, planning, and operational oversight for the organization's day-to-day activities.
The Trustees report was approved by the Board of Trustees.
I report on the financial statements of the for the year ended 31 March 2025, which are set out on pages 5 to 13.
It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.
My examination is 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking 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.
In the course of 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 Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 13 form part of these financial statements.
Insights Foundation is a private company limited by guarantee incorporated in Scotland. The registered office is Terra Nova, 3 Explorer Road, Dundee Technology Park, Dundee, DD2 1EG.
The financial statements have been prepared in accordance with the 's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". The is a Public Benefit Entity as defined by FRS 102.
The 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 . 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:
At the time of approving the financial statements, the Trustees have a reasonable expectation that the 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.
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 or grantors 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.
Cash donations are recognised on receipt. Other donations are recognised once the 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.
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.
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.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.
Note: All grants paid were for charitable expenditure in line with the constitution of the various Charities. No grants were paid in current year.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
During the year the entered into the following transactions with related parties:
Name of related party Insights Learning & Development Limited
Nature of relationship Trustee - Andrew Jonathan Lothian
Trustee - Alexander James Wilson
Transaction During the year, no donations (2024 - £1,412,600) to Insights Foundation.
Trustee Andrew Jonathan Lothian and Alexander James Wilson both
sit on the Board of Directors for this company.