REGISTERED COMPANY NUMBER: SC336414 (Scotland)

REGISTERED CHARITY NUMBER: SC039624

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

REFORM SCOTLAND

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

5

Independent Examiner's Report

6

Statement of Financial Activities

7

Balance Sheet

8

to

9

Notes to the Financial Statements

10

to

17

TRUSTEES

G Gammell (resigned 6.9.24)

A Kennedy

A MacDonald

J W McConnell

G Williams (appointed 10.5.24)

S Langdon (appointed 6.9.24)

L McAreavey (appointed 5.12.24)

COMPANY SECRETARY

C J Deerin

REGISTERED OFFICE

14-18 Hill Street

Edinburgh

EH2 3JZ

REGISTERED COMPANY NUMBER

SC336414 (Scotland)

REGISTERED CHARITY NUMBER

SC039624

INDEPENDENT EXAMINER

JRW Hogg & Thorburn LLP

Chartered Accountants

19 Buccleuch Street

Hawick

Roxburghshire

TD9 0HL

SOLICITORS

CMS Cameron McKenna LLP

Saltire Court

20 Castle Terrace

Edinburgh

EH1 2EN

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Change in trading Name

On 19 May 2025, the company changed its trading name to Enlighten to avoid confusion with a political party of the same name which does not have any connection with the company's activities. For the avoidance of any doubt, the charitable company has no connection with the political party Reform UK.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the charitable company are:

- To promote the education of the Scottish community by carrying out research using robust and objective methods

- To publish reports and research papers on a range of public policy issues

- To issue briefing notes and updates analysing developments in public policy

- To arrange seminars, lectures and other public events in public policy and related topics

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Publications

Reform Scotland made progress in its stated aims in the year to 31 March 2025. It published eleven reports during the year covering various aspects of public policy. All are available for free from www.enlighten.scot

- How should undergraduate degrees be funded (contribution to a UK wide publication by HEPI)

- Blueprint for a more effective Scottish Parliament

- Computing the future: Creating Digital Leaders, Not Just Consumers

- Working Better Together

- Tackling Child Poverty in Scotland: Striking the Right Balance

- Why Educational data matters

- Smarter thinking: Assessment in the Senior Phase

- Broken Stem

- Melting Pot 2024

- How a knowledge based curriculum could transform Scottish education

- Briefing Note: How to maintain university tuition free at the point of use

We were also delighted to be able to partner with Edinburgh University's SWAY programme for the first time in 2024. Sam Wolstenholme-Britt carried out an MSc dissertation based on our research question on the potential of wealth taxes in Scotland. Her report, 'The Economic & Behavioural Impacts of Land Value Taxes & Net Wealth Taxes in OECD Countries: A Realist Review' is based on her dissertation and was also published on our website.

We also continued with two specific projects looking at policy areas and inviting discussion and debate from others - Devolving Scotland and NHS2048.

Events

The following events were held in the year to 31 March 2025. Most of the events were held online and can be viewed on our website:

- Why we must tackle Scotland's growing prison population

- General election discussion

- Prevention and healthcare reform

- Tackling child poverty

- Annual lecture with Lord Mandelson

- How moving to a knowledge based curriculum could revitalise Scottish schools

- Meet the leaders: Russell Findlay MSP

- Public service reform with Ivan McKee MSP

- The future of social care

Written and oral evidence

We submitted the following:

- Scottish Parliament Local Government, Housing & Planning Committee on sustainability of local government finance

Promotion and media

Reform Scotland seeks to promote its activities to a wide range of people and organisations involved in the public policy debate in Scotland with copies of all reports sent to a cross-section of individuals either in hard copy or electronic form.

There was considerable media interest in Reform Scotland's work with Reform Scotland having appeared in the print or broadcast media on more than 100 occasions over the past year and over 2,300 occasions since the organisation was established.

FINANCIAL REVIEW

Financial position

The overall amount raised by the charitable company in 2024-25 was 36% higher than the previous year. The charity's expenditure increased compared to the previous year but it was only up by 12%. As a result, net income of £29,812 was recorded for the year compared to a deficit of £13,693 for the previous year. Following the year end, the charitable company has been able to secure sufficient donations to meet its ongoing running costs. It is also continuing to look at ways of securing further donations. The directors, therefore, believe that the charity will have sufficient funding to support its activities over the next twelve months. In order to maintain its independence, as well as its freedom from commercial or political considerations, Reform Scotland does not accept commissions to undertake work, nor does it accept money from government organisations.

At 31st March 2025, total funds amounted to £48,251 (2024, £18,439). £45,556 relates to unrestricted funds leaving £2,695 restricted funds.

Reserves policy

As at 31st March 2025, we held unrestricted reserves of £45,556. These reserves are held to cover future operating costs.

We recognise the need to grow these reserves to protect the continuity of our core work and cover unforeseen risks, such as unexpected expenditure or loss of income.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charitable company was incorporated on 18 January 2008 as a private company limited by guarantee and was registered with the Office of the Scottish Charity Regulator on 2 June 2008 and recognised as a charity by HM Revenue and Customs on 6 June 2008. The charitable company was established under a Memorandum of Association which establishes the objects and powers of the charitable company and is governed under its Articles of Association. It is governed by a board of directors, who are directors for the purpose of company law and trustees for the purpose of charity law.

The board of directors

The charitable company's directors need to bring expertise to the three main areas of activity the charitable company undertakes to fulfil its purpose: knowledge and understanding of the Scottish business community, whence most voluntary donations come; experience in economics and public policy, to guide the output of the charitable company; and experience of the public domain, including the media, which allows the charitable company to disseminate the results of its educational research to the Scottish public in general. The directors have extensive experience and skills in these three areas. They are also experienced in the governance of companies and charities similar to Reform Scotland so little formal training is required to be provided by the charitable company.

Trustees are required to complete a Declaration of Members' Interest annually. At the start of each Board meeting Trustees are asked to declare any interests they have in relation to items on the Agenda.

Organisational structure

The members of the charitable company can consist of:

- The founder members

- The directors of the charitable company

- Any person as admitted by the board of directors

Each member has one vote.

Members of the charitable company guarantee to contribute an amount not exceeding £1 in the event of a winding up. The total number of such guarantees at 31 March 2025 was 6.

The first directors of the charitable company were the founder members. The number of directors cannot be less than 2, nor exceed 25. The board of directors can appoint any person as a director subject to the conditions stated.

The charity has separate Remuneration, Fundraising and Risk committees which comprise members of the executive team and trustees.

Key management remuneration

The directors are not entitled to receive any remuneration from the charitable company.

Day-to-day management of the charitable company is delegated to C J Deerin, who performs the role of chief executive officer.

Risk management

The directors have assessed the major risks to which the charitable company is exposed and are satisfied that systems have been implemented to manage exposure to these risks.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 27th November 2025 and signed on its behalf by:

S Langdon - Trustee

I report on the accounts for the year ended 31st March 2025 set out on pages seven to seventeen.

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.

Joanne Gibson

The Institute of Chartered Accountants of Scotland

JRW Hogg & Thorburn LLP

Chartered Accountants

19 Buccleuch Street

Hawick

Roxburghshire

TD9 0HL

27th November 2025

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

248,061

16,402

264,463

194,726

EXPENDITURE ON

Charitable activities

3

Education, Research & Publicity

220,944

13,707

234,651

208,419

NET INCOME/(EXPENDITURE)

27,117

2,695

29,812

(13,693

)

RECONCILIATION OF FUNDS

Total funds brought forward

18,439

-

18,439

32,132

TOTAL FUNDS CARRIED FORWARD

45,556

2,695

48,251

18,439

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

10

950

-

950

-

CURRENT ASSETS

Debtors

11

6,869

-

6,869

4,293

Cash at bank

45,157

2,695

47,852

22,538

52,026

2,695

54,721

26,831

CREDITORS

Amounts falling due within one year

12

(7,420

)

-

(7,420

)

(8,392

)

NET CURRENT ASSETS

44,606

2,695

47,301

18,439

TOTAL ASSETS LESS CURRENT LIABILITIES

45,556

2,695

48,251

18,439

NET ASSETS

45,556

2,695

48,251

18,439

FUNDS

13

Unrestricted funds

45,556

18,439

Restricted funds

2,695

-

TOTAL FUNDS

48,251

18,439

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 27th November 2025 and were signed on its behalf by:

S Langdon - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The trustees have considered the position for the next twelve months including the impact on ongoing global events and have concluded that the use of the going concern basis of accounting is appropriate because there are no material uncertainties relating to activities or conditions that may cast doubt about the ability of the charity to continue as a going concern.

Income

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

The specific policies applied to particular categories of income:

- Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

- Investment income is included when receivable.

- Incoming resources from charitable activities are accounted for when earned.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of 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 activities. These costs have been allocated to expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 5.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

20% on cost

Items costing over £100 and with an useful economic life of more than one year are capitalised.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Creditors and provisions

Creditors and provisions are recognised where the charity has 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 the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount allowing for any trade discounts due.

Financial assets

Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.

At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Statement of Financial Activities.

Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expired.

2.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

248,378

181,684

Gift aid

16,085

13,042

264,463

194,726

3.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 4)

note 5)

Totals

£

£

£

Education, Research & Publicity

212,926

21,725

234,651

4.	DIRECT COSTS OF CHARITABLE ACTIVITIES

2025

2024

£

£

Staff costs

190,618

165,795

Events

6,244

3,403

Newspapers

1,627

1,496

Consultancy

14,437

15,600

212,926

186,294

5.	SUPPORT COSTS

Governance

Management

Other

costs

Totals

£

£

£

£

Education, Research & Publicity

15,029

258

6,438

21,725

Support costs, included in the above, are as follows:

2025

2024

Education,

Research

Total

& Publicity

activities

£

£

Other operating leases

648

3,204

Computer & IT

2,310

1,873

Entertaining

1,348

3,315

Meeting room hire

459

180

Storage costs

486

210

Postage and stationery

61

15

Travel & Subsistence

7,873

5,366

Sundries

108

142

Advertising and website

1,498

2,639

Depreciation of tangible and heritage assets

238

-

Bank charges

258

333

Professional fees

3,210

2,028

Accountancy

1,668

1,380

Independent examiners fee

1,560

1,440

21,725

22,125

6.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

238

-

Other operating leases

648

3,204

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.

8.	STAFF COSTS

2025

2024

£

£

Wages and salaries

161,348

141,028

Social security costs

13,034

10,696

Other pension costs

16,236

14,071

190,618

165,795

The average monthly number of employees during the year was as follows:

2025

2024

Project staff

3

3

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025

2024

£70,001 - £80,000

-

1

£80,001 - £90,000

1

-

1

1

The key management personnel of the charity comprise the trustees and the chief executive officer, Chris Deerin. None of the trustees were remunerated for their duties as trustees during the year. The total remuneration of key management personnel during the year was £105,815 (2024, £96,082).

9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

194,726

-

194,726

EXPENDITURE ON

Charitable activities

Education, Research & Publicity

208,419

-

208,419

NET INCOME/(EXPENDITURE)

(13,693

)

-

(13,693

)

RECONCILIATION OF FUNDS

Total funds brought forward

32,132

-

32,132

TOTAL FUNDS CARRIED FORWARD

18,439

-

18,439

10.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1st April 2024

1,718

Additions

1,188

At 31st March 2025

2,906

DEPRECIATION

At 1st April 2024

1,718

Charge for year

238

At 31st March 2025

1,956

NET BOOK VALUE

At 31st March 2025

950

At 31st March 2024

-

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

6,869

4,293

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

705

538

Other creditors

6,715

7,854

7,420

8,392

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

18,439

27,117

45,556

Restricted funds

General Restricted

-

2,695

2,695

TOTAL FUNDS

18,439

29,812

48,251

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

248,061

(220,944

)

27,117

Restricted funds

General Restricted

16,402

(13,707

)

2,695

TOTAL FUNDS

264,463

(234,651

)

29,812

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

£

£

Unrestricted funds

General fund

32,132

(13,693

)

18,439

TOTAL FUNDS

32,132

(13,693

)

18,439

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

194,726

(208,419

)

(13,693

)

TOTAL FUNDS

194,726

(208,419

)

(13,693

)

14.	RELATED PARTY DISCLOSURES

Two trustees made unrestricted donations to Reform Scotland during the year ended 31st March 2025 totalling £15,000 (2024, £11,500).

During the year donations amounting to £60,000 were received from KPE4 Trust. G Williams is a trustee of KPE4 Trust. These donations were all free from restrictions.

There were no other transactions or contracts entered into by the charity in which any trustee or other person related to the charity had any personal interest in the year (2024, Nil).

15.	COMPANY LIMITED BY GUARANTEE

In the event of the company being wound up the members agree to contribute such an amount as may be required not exceeding £1.