REGISTERED COMPANY NUMBER: SC390523 (Scotland)

REGISTERED CHARITY NUMBER: SC029984

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2025

for

St. Marys Kenmure

Page

Report of the Trustees

1

to

7

Report of the Independent Auditors

8

to

11

Statement of Financial Activities

12

Balance Sheet

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

17

to

26

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 31 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

St. Mary's Kenmure is a secure accommodation service that provides 24 secure beds for young people (male and female), aged from 11 to 18 years. Located in the northeast of Glasgow, in Bishopbriggs, St. Mary's Kenmure is governed by an independent board of trustees and is a registered charity (SC029984). It is an approved exam centre with the Scottish Qualifications Authority (SQA), registered with the registrar for Independent Schools, and is regularly inspected by Her Majesty's Inspectorate of Education (HMIE).

The service has a campus-style facility, which is formed by grouping four house units, an education centre, administration, and a catering centre around a large central courtyard containing an outdoor recreation area, which is the main circulation route within St. Mary's Kenmure. Additionally, there are indoor recreational facilities, including a swimming pool and a gymnasium.

The accommodation for the young people is single bedrooms. This includes an ensuite toilet and shower with fixtures and fittings designed to limit self-harm. There is a living/dining and kitchen area, office, and a visitors/activities room in each unit. Some house units have a well-equipped sensory room.

Perimeter security is provided by the buildings and is supplemented by CCTV monitored by a designated team of operations staff.

St. Mary's Kenmure vision statement reads: We promise to give the right help, at the right time, in the right way and by the right people, to children and young people, their families and wider world, whose needs require highly specialist support and intervention. Children and young people will leave our care with understanding, a sense of belonging, hope and new skills from which, they will build a positive future.

Significant activities

The charity meets its objectives by:

- Secure care aims to provide intensive support and safe boundaries to help these highly vulnerable children re-engage and move forward positively in their communities.

- Embracing the Secure Care Pathways, The Promise and UNCRC and by doing so we provide HOPE.

STRATEGIC REPORT

Achievements and performance

Charitable activities

The past year has been a period of significant challenge and positive transformation for St Mary's Kenmure. In October 2024, we faced a critical Care Inspectorate inspection that led to enforcement action and an embargo on admissions. The inspection report identified serious concerns regarding our ability to keep children safe, citing inadequate staffing levels, a poor physical environment, and weaknesses in the application of policy and procedures.

The leadership team responded swiftly and constructively to these challenges, engaging fully with the Care Inspectorate to address every requirement. Through decisive action, a strengthened leadership approach, and the commitment of our entire workforce, we successfully met all the requirements set out. As a result, the embargo on admissions was lifted, and we remain committed to sustaining these improvements and building on them. The direct support we received from Scottish Government and the Care Inspectorate was a great support to us, as was the positive engagement of our children, workforce and wider stakeholder groups to help us move forward.

As part of our improvement journey, we have invested in strengthening our governance and practice development. Additional senior roles have been created with explicit responsibility for monitoring, compliance, and reporting in key safeguarding areas, including child protection, restraint, and the use of restrictive practices. We have also significantly improved governance oversight, with data in these areas now regularly reported to the newly established Care and Education Sub-Committee of the Board.

We are particularly grateful to the Scottish Government for a grant of £125,000, which enabled us to make much-needed improvements to the children's living spaces and bedrooms, enhancing both the physical environment and the day-to-day experience of our young people.

A major milestone this year has been the successful recruitment into all senior leadership positions and the development of an ambitious five-year strategic plan that sets a clear and progressive direction for the future. A key change also introduced this year, was the introduction of professional externally facilitated supervision for the leadership team, which is seen as essential to the culture and practice changes that lie ahead.

However, we continue to face significant recruitment challenges across the organisation, a situation shared by the wider sector. There remains a national gap in the availability of suitably skilled, knowledgeable, and experienced practitioners to meet the complex needs of children and young people in secure care. Addressing this workforce challenge is a key priority as we move forward.

Scrutiny of our financial performance has also been strengthened through the introduction of the Finance and General Purposes Sub-Committee of the Board, ensuring closer oversight and accountability. Despite these positive steps, the embargo on admissions resulted in significant financial losses during the year, despite a necessary reduction in staffing levels. Additionally, while we welcomed Scotland Excel's uplift to our annual fee, this was marginally lower than we had requested, further adding to financial pressures.

Throughout this period, our educational provision has remained strong. Children have continued to enjoy positive learning experiences, with some young people achieving qualifications at National 5 level - a significant accomplishment in a secure care context.

We are also seeing a changing demographic following the enactment of the Care and Justice (Scotland) Act. Over the past year, most of the children placed with us have been boys in conflict with the law, highlighting a shift in the needs and profiles of the young people we support, which will present a challenge to how we provide enhanced learning to the workforce.

Our connections to both local and national groups remain important, and we are proud to contribute positively to wider sector developments. This year, we worked in partnership with CELCIS to refresh our vision and values, ensuring that all voices within St Mary's Kenmure - from children and staff to partners and stakeholders - are heard and valued. We are grateful to colleagues from Greater Glasgow and Clyde NHS for this support to help us deliver the best mental health support to our children.

Looking ahead, we have begun the early stages of an ambitious campus redesign programme that will require significant future investment. This will be a key part of our continued commitment to providing a nurturing, safe, and trauma-informed environment for the children and young people in our care.

While this year has undoubtedly presented challenges, it has also been one of meaningful progress, learning, and renewed purpose.

Financial review

Financial position

The main source of income is by way of service income received from the Scottish Executive and the Local Authorities. Total incoming resources for the year were £8.60million (2024: £8.43million). Resources expended were £8.98million (2024: £8.42million). Net outgoing resources before actuarial gains were £387,725 (2024: Net incoming resources £10,548).

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure. This would be approximately £3.8 million. The trustees consider that this would provide sufficient funds to cover costs in the event of a significant drop in income levels or if the unit ever has to close down. Unrestricted funds, excluding fixed assets, the pension reserve and restricted reserves, were £6.8 million at 31 March 2025.

Going concern

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

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee. The charitable company was formed under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

In accordance with the Articles of Association the first Trustees of the charitable company shall be those persons appointed as the first directors on incorporation of the charitable company. Subsequent appointments shall be made as follows:

(a) There must be at least three Trustees at all times. The Board of Trustees shall comprise the Officers and not more than ten other Trustees.

(b) No person may be appointed as a Trustee unless he has been approved in advance by the Ecclesiastical Superior for the time being of the Roman Catholic Archdiocese of Glasgow (The Superior).

(c) The Chairperson shall be directly appointed by decision of the Superior for a term of three years.

(d) The other Trustees shall be appointed by decision of the Trustees for a term of three years.

At the end of a term of office a willing Trustee who remains eligible under the law to act as a charity trustee and company director may be re-appointed to another term.

Organisational structure

The Board of Trustees meet regularly throughout the year to administer the charity. A Director of Service is appointed by the trustees to manage the day to day operations of the secure unit. The director has delegated authority, as approved by the trustees, for all operational matters and project related activity within the unit.

Induction and training of new trustees

New trustees attend a short induction and training session where they are briefed on the content of the Constitution, the decision making process, the business plan and recent financial performance of the charity.

Related parties

St. Mary's Kenmure Secure Unit, Bishopbriggs is one of four specialist charities affiliated with Cora Foundation. The others are St. Philip's School Plains, The Good Shepherd Centre, Bishopton and The Good Shepherd Close Support. Cora Foundation was established by the Bishops' Conference of the Roman Catholic Hierarchy in Scotland as the organisation within which a number of social care and specialist educational projects could operate and develop strategically. Cora Foundation promotes the operation of the residential units, secure units and special needs units, administering funds on their behalf.

Risk management

The Trustees have a risk management strategy which comprises:

- an annual review of the risks the charity may face;

- the establishment of systems and procedures to mitigate those risks identified; and

- the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.

Internal control risks are minimised by the implementation of procedures for the authorisation of all transactions. The finance sub-committee discuss any external risks to funding, decide on appropriate action to minimise risks, and develop a strategic plan.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC390523 (Scotland)

Registered Charity number

SC029984

Registered office

C/o Mcsparran McCormick

Waterloo Chambers

19 Waterloo Street

Glasgow

G2 6AH

Principal address

St Mary's Road

Bishopbriggs

Glasgow

G64 2EH

Trustees

J Farrell

M A G Mannion

G Milne

Ms A M Milton

A G Sweeney

Ms J A Tait (appointed 27.8.24)

B J Tierney

T Yousaf (appointed 1.3.25)

D Little (appointed 1.3.25)

Ms S M Saunders (appointed 26.5.25)

Company Secretary

McSparran McCormick

Auditors

Accountants Plus (Hamilton) Ltd

T/A Accountants Plus

Statutory Auditor

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

Solicitors

McSparran McCormick

Waterloo Chambers

19 Waterloo Street

Glasgow

G2 6AH

Principal Bankers

Virgin Money

Business Banking Centre

Suite 2

Ochil House

Springkerse Business Park

Stirling FK7 7XE

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of St. Marys Kenmure for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

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

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 15 December 2025 and signed on the board's behalf by:

M A G Mannion - Trustee

Opinion

We have audited the financial statements of St. Marys Kenmure (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (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 31 March 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 UK, including the FRC'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 trustees' 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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the 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 Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires 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 trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees 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 trustees 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 trustees 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditors 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 noncompliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these among our audit team members. We then designed and performed audit procedures to respond to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing the risks or material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations we considered the following;

- The nature of the charity, the environment in which it operates and the control procedures implemented by management and the trustees; and-

- Our enquiries of management and trustees about their identification and assessment of the risks of irregularities.

Based on our understanding of the charity and the sector as a whole we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to;

- Regulations and legislation pertinent to the charity's operations; and

- UK tax and employment legislation.

We considered the extent to which non-compliance might have a material impact on the financial statements. We also considered those laws and regulations which have a direct impact on the preparation of the financial statements, such as the Charities and Trustee Investment (Scotland) Regulations 2006. We evaluated management and trustees' incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls), and determined that the principal risks of the charity were related to;

- Inappropriate journal entries; and

- Management bias in accounting estimates.

Our procedures to respond to the risks identified included the following:

- Gaining an understanding of the legal and regulatory framework applicable to the charity and the sector in which it operates;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- Enquiring of management, trustees and legal advisors concerning actual or potential litigation and claims;

- Reading minutes of meetings of those charged with governance;

- In addressing the risk of fraud as a result of management override of controls, testing the appropriateness of journal entries and other adjustments and evaluating rationale of any significant transactions that are unusual or outside the normal course of business; and

- Communicating relevant identified laws and regulations and potential fraud risks to all audit team members, and remaining alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above. The further removed any 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. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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 Report of the Independent Auditors.

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 the trustees 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 and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Fiona Struthers (Senior Statutory Auditor)

for and on behalf of Accountants Plus (Hamilton) Ltd

T/A Accountants Plus

Statutory Auditor

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

15 December 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

-

140,000

140,000

30,000

Charitable activities

4

Charitable Activities

7,716,994

-

7,716,994

7,779,091

Investment income

3

738,505

-

738,505

621,986

Total

8,455,499

140,000

8,595,499

8,431,077

EXPENDITURE ON

Charitable activities

5

Charitable Activities

8,818,878

164,346

8,983,224

8,420,529

Net gains/(losses) on investments

(3,095,000

)

-

(3,095,000

)

(2,997,000

)

NET INCOME/(EXPENDITURE)

(3,458,379

)

(24,346

)

(3,482,725

)

(2,986,452

)

Other recognised gains/(losses)

Actuarial gains on defined benefit schemes

2,963,000

-

2,963,000

1,531,000

Net movement in funds

(495,379

)

(24,346

)

(519,725

)

(1,455,452

)

RECONCILIATION OF FUNDS

Total funds brought forward

10,041,823

24,346

10,066,169

11,521,621

TOTAL FUNDS CARRIED FORWARD

9,546,444

-

9,546,444

10,066,169

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

2,777,788

-

2,777,788

3,019,121

CURRENT ASSETS

Debtors

13

7,808,707

-

7,808,707

8,355,205

Cash at bank and in hand

121,215

-

121,215

36,838

7,929,922

-

7,929,922

8,392,043

CREDITORS

Amounts falling due within one year

14

(811,266

)

-

(811,266

)

(676,083

)

NET CURRENT ASSETS

7,118,656

-

7,118,656

7,715,960

TOTAL ASSETS LESS CURRENT LIABILITIES

9,896,444

-

9,896,444

10,735,081

PROVISIONS FOR LIABILITIES

16

(350,000

)

-

(350,000

)

(668,912

)

NET ASSETS

9,546,444

-

9,546,444

10,066,169

FUNDS

17

Unrestricted funds

9,546,444

10,041,823

Restricted funds

-

24,346

TOTAL FUNDS

9,546,444

10,066,169

The financial statements were approved by the Board of Trustees and authorised for issue on 15 December 2025 and were signed on its behalf by:

M A G Mannion - Trustee

Cash flows from operating activities

Cash generated from operations

1

(436,362

)

(8,710,676

)

Net cash used in operating activities

(436,362

)

(8,710,676

)

Cash flows from investing activities

Purchase of tangible fixed assets

(38,664

)

-

Interest received

738,505

621,986

Net cash provided by investing activities

699,841

621,986

Change in cash and cash equivalents in the reporting period

263,479

(8,088,690

)

Cash and cash equivalents at the beginning of the reporting period

2

(142,264

)

-

Cash and cash equivalents at the end of the reporting period

2

121,215

(142,264

)

1.	RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.3.25

31.3.24

£

£

Net expenditure for the reporting period (as per the Statement of Financial Activities)

(3,482,725

)

(2,986,452

)

Adjustments for:

Depreciation charges

279,997

287,074

Interest received

(738,505

)

(621,986

)

Actuarial gain

2,963,000

1,531,000

Increase/(decrease) in provisions

(668,912

)

43,912

Write of of related party debtor

350,000

-

Decrease/(increase) in debtors

546,498

(8,355,205

)

Increase in creditors

314,285

496,981

Difference between pension charge and cash contributions

-

894,000

Net cash used in operations

(436,362

)

(8,710,676

)

2.	ANALYSIS OF CASH AND CASH EQUIVALENTS

31.3.25

31.3.24

£

£

Cash in hand

2,051

4,955

Notice deposits (less than 3 months)

119,164

31,883

Overdrafts included in bank loans and overdrafts falling due within one year

-

(179,102

)

Total cash and cash equivalents

121,215

(142,264

)

3.	ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

36,838

84,377

121,215

Bank overdraft

(179,102

)

179,102

-

(142,264

)

263,479

121,215

Total

(142,264

)

263,479

121,215

**	LAST YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS

AS CALCULATED IN CASH FLOW STATEMENT

DOES NOT AGREE TO MOVEMENT PER BALANCE SHEET

COMPARE MOVEMENT ON CASH FLOW STATEMENT

(8,088,690

)

TO

MOVEMENT PER BALANCE SHEET

CASH AND CASH EQUIVALENTS LESS BANK OVERDRAFTS

(142,264

)

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.

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.

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.

Tangible fixed assets

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

Freehold property

-

in accordance with the property

Motor vehicles

-

Straight line over 20 years

Computer equipment

-

33% on cost

Residential properties have an estimated residual value equal to cost and as a result no depreciation is charged

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.

Pension costs and other post-retirement benefits

The charitable company operates two defined benefit pension schemes.

Strathclyde Pension Scheme

The pension liabilities and assets are recorded in line with FRS102, with a valuation undertaken by an independent actuary. FRS102 measures the value of pension assets and liabilities at the Balance Sheet date and determines the benefits accrued in the year and the interest on assets and liabilities. The value of benefits accrued and the net interest cost is used to determine the pension charge in the SOFA and are allocated across the appropriate incoming/outgoing resource categories. The change in value of assets and liabilities arising from asset valuation, changes in benefits, actuarial assumptions, or change in the level of deficit attributable to members is recognised in the SOFA within actuarial gains/losses on defined benefit pension schemes. The resulting pension liability or asset is shown on the Balance Sheet.

Scottish Teachers Superannuation Scheme (STSS)

The STSS is a defined benefit multi-employer pension scheme. It is not possible to identify St Mary's Kenmure's share of the underlying assets and liabilities of the STSS and hence contributions to the scheme are accounted for as if they were contributions to a defined contribution scheme. Pension contributions are charged to the SOFA as incurred.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

£

Grants

140,000

30,000

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

£

Other grants

140,000

30,000

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Deposit account interest

152,505

127,986

Interest receivable - pension

586,000

494,000

738,505

621,986

4.	INCOME FROM CHARITABLE ACTIVITIES

31.3.25

31.3.24

Activity

£

£

Service income

Charitable Activities

7,397,841

7,307,713

Rental income

Charitable Activities

43,200

28,200

Other income

Charitable Activities

275,953

443,178

7,716,994

7,779,091

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

£

£

Charitable Activities

8,590,755

392,469

8,983,224

6.	SUPPORT COSTS

Governance

Management

costs

Totals

£

£

£

Charitable Activities

309,432

83,037

392,469

7.	NET INCOME/(EXPENDITURE)

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

31.3.25

31.3.24

£

£

Auditors' remuneration

18,363

14,200

Official correspondent fees

64,674

40,435

Depreciation - owned assets

279,997

287,074

8.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

9.	STAFF COSTS

31.3.25

31.3.24

£

£

Wages and salaries

5,056,445

4,536,076

Social security costs

478,010

416,636

Other pension costs

833,149

713,178

6,367,604

5,665,890

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

31.3.25

31.3.24

Staff

142

135

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

31.3.25

31.3.24

£60,001 - £70,000

7

7

£70,001 - £80,000

2

2

£80,001 - £90,000

1

1

£90,001 - £100,000

1

-

11

10

Key management:

Key management personnel are considered to be the Senior Management Team. In the

year to 31 March 2025 they received total aggregate employee benefits, including pension

contributions, of £252,368 (2024: £197,828).

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

-

30,000

30,000

Charitable activities

Charitable Activities

7,779,091

-

7,779,091

Investment income

621,986

-

621,986

Total

8,401,077

30,000

8,431,077

EXPENDITURE ON

Charitable activities

Charitable Activities

8,414,875

5,654

8,420,529