Charity registration number SC042464 (Scotland)
Company registration number SC403655 (Scotland)
THE JOHN DOBBIE FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
THE JOHN DOBBIE FOUNDATION
CONTENTS
Page
Directors' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 12
THE JOHN DOBBIE FOUNDATION
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2025
- 1 -

The Directors present their annual report and financial statements for the year ended 31 July 2025.

The financial statements have been prepared in accordance with the accounting policies set out in N ote 1 to 2 of the accounts and comply with the Foundation's constitution, 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) and the Companies Act 2006.

Objectives and activities

The objectives of the Foundation are the prevention or relief of poverty, the advancement of citizenship or community development and the relief of those in need by reason of age, ill-health, disability, financial hardship or other disadvantage.

Achievements and performance

This was the Foundation’s fourteenth period of activity, and the Directors are pleased with the levels of rental income being achieved in the current economic climate. During the year the Foundation has seen steady rental income received through the properties held for short term holiday lets.

It is the Directors’ intention to continue to make grant awards in subsequent years. During the year, grants were awarded to several institutions, totalling £14,538 (2024: £12,695).

Financial review

The results for the year are set out in the Statement of Financial Activities and the Balance Sheet.

During the year to 31 July 2025, rental and interest income amounted to £113,145 (2024: £112,123) and a net surplus of £25,763 (2024: surplus £48,296) was generated. The Directors confirm that the Foundation’s remaining assets are available and adequate to fulfil the obligations of the Foundation.

Reserves and grant making policy

The Directors do not require reserves to be held given that the intention is to distribute all free income of the Foundation. The Foundation held free reserves (being funds not tied up in investment property) of £618,944 at the year-end (2024: £593,181) and total funds of £2,154,944 at the year-end (2024: £2,129,181).

Following a review of the Foundation's funds, the Directors have noted that there are no restrictions on the Endowment fund and that the funds therein can be used for the charity's purposes as they see fit. As such, they have agreed that this fund should be classified as general unrestricted funds and have transferred the funds at the balance sheet date.

The Directors discuss the potential grants having examined the track record of the charity involved and the result of any proposed projects.

Investment policy

The Foundation holds property, from which rental income is derived.

Plans for future periods

It is the intention of the Directors to continue to generate rental income from the properties held by the Foundation. The rental income generated from residential properties remains healthy, although the directors do not consider that it is feasible to make rent increases this financial year, given the financial profile of the tenants and the current economic situation.

THE JOHN DOBBIE FOUNDATION
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 2 -
Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 18 July 2011 and registered as a charity on 27 July 2011. The company was established under a Memorandum of Association which establishes the objects and powers of the Foundation 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.

The memorandum provides for a minimum of three Directors, but not subject to any maximum number. The Directors have the power to remove an individual as a director, by way of a resolution passed at a meeting of the Directors provided at least two thirds of the Directors vote in favour of the resolution. An individual holding office as a director may retire by giving notice in writing to that effect to the secretary of the Foundation.

A meeting of the Directors is held at least once a year. The Directors, who are the trustees of the charity, agree the broad strategy and areas of activity for the Foundation including consideration of the grant making, investment, reserves and risk management policies and performance.

All Directors are familiar with the work of the charity. If there are any areas where additional training is required, this will be discussed at a Directors’ meeting and a solution identified.

Recruitment and appointment of directors

Directors are appointed with an emphasis on their skills and experience that will benefit the charity. An induction is provided to all new Directors covering their legal responsibility under charity and company law, the contents of the Memorandum and Articles of Association, Board procedures and decisions making processes, the business plan, resourcing and recent financial performance, current issues and future plans. Training for directors is largely informal.

Risk Management

The Directors have assessed the major risks to which the charity is exposed, those related to the operations and finances of the Foundation and are satisfied that systems are in place to mitigate their exposure to the major risks.

Reference and administrative information

Directors
D Flatman
Mrs F Flatman
A T Flatman
Registered and Principal Office
Independent Examiner
21B West Montrose Street
Paul Hutchison ACA
Helensburgh
Azets Audit Services
Dunbartonshire
Chartered Accountants
G84 9PF
Quay 2
139 Fountainbridge
Bankers
Edinburgh
Bank of Scotland
EH3 9QG
Helens burgh Branch
P O Box 1000
BX2 1LB
THE JOHN DOBBIE FOUNDATION
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 3 -

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

Approved for issue by the Directors and signed on their behalf by:

D Flatman
Director
30 March 2026
THE JOHN DOBBIE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF THE JOHN DOBBIE FOUNDATION
- 4 -

I report on the financial statements of T he John Dobbie Foundation for the year ended 31 July 2025, which compromise the Statement of Financial Activities (incorporating the Income and Expenditure Account) the Balance Sheet and the related notes.

Respective responsibilities of Directors and examiner

The Foundation’s directors, who also act as trustees for the charitable activities of The John Dobbie Foundation, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as ammended) . The Directors consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

In the course of my examination, no matter has come to my attention:

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

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

(ii)

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

have not been met or
(b)

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

Paul Hutchison ACA

Azets Audit Services

Chartered Accountants

Quay 2

139 Fountainbridge

Edinburgh

EH3 9QG

Quay 2
139 Fountainbridge
Edinburgh
EH3 9QG
Dated: 6 April 2026
THE JOHN DOBBIE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
- 5 -
Unrestricted
Endowment
Total
Unrestricted
Endowment
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
Notes
£
£
£
£
£
£
Income from:

Rental income

95,721
-
95,721
96,409
-
96,409
Investments
17,424
-
17,424
15,714
-
15,714
Total income
113,145
-
113,145
112,123
-
112,123
Expenditure on:
Raising funds
3
55,293
-
55,293
35,670
-
35,670
Charitable activities
4
32,089
-
32,089
28,157
-
28,157
Total expenditure
87,382
-
87,382
63,827
-
63,827
Net incoming resources before transfers
25,763
-
25,763
48,296
-
48,296
Gross transfers between funds
1,670,038
(1,670,038)
-
-
-
-
Net movement in funds
1,695,801
(1,670,038)
25,763
48,296
-
48,296
Fund balances at 1 August 2024
459,143
1,670,038
2,129,181
410,847
1,670,038
2,080,885
Fund balances at 31 July 2025
2,154,944
-
2,154,944
459,143
1,670,038
2,129,181

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
THE JOHN DOBBIE FOUNDATION
BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 6 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
9
1,536,000
1,536,000
Current assets
Debtors
10
7,882
1,603
Cash at bank and in hand
620,446
598,238
628,328
599,841
Creditors: amounts falling due within one year
11
(9,384)
(6,660)
Net current assets
618,944
593,181
Total assets less current liabilities
2,154,944
2,129,181
Capital funds
Endowment funds - general
-
1,670,038
Income funds
Unrestricted funds
2,154,944
459,143
2,154,944
2,129,181

The foundation is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2025.

The directors acknowledge their responsibilities for complying with section 386 and 387 of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements were approved by the Directors on 30 March 2026
D Flatman
Director
Company registration number SC403655
THE JOHN DOBBIE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 7 -
1
Accounting policies
Charity information

The John Dobbie Foundation is a charitable company limited by guarantee registered in Scotland, registration number SC403655. The address of the Foundation’s registered office is 21B West Montrose Street, Helensburgh, Dunbartonshire, G84 9PF.

1.1
Accounting convention

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

The Foundation 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 (GBP), which is the functional currency of the Foundation. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to to include investment at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The Foundation is self-funding, receiving all its funds from the management and rental of domestic properties. At the time of approving the financial statements, the Directors have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Directors in furtherance of their charitable objectives.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Foundation.
1.4
Income
Income is recognised when the Foundation is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Foundation 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.

Property rental income of the Foundation is recognised in line with the tenancy agreement.

THE JOHN DOBBIE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 8 -
1.5
Expenditure

Expenditure is recognised when the Foundation has entered into a legal or constructive obligation and where possible expenditure has been charged direct to charitable expenditure, cost of raising funds or governance costs.

Charitable expenditure comprises of those costs incurred by the Foundation in the delivery of its activities and services for its beneficiaries and the governance costs associated with meeting the constitutional and statutory requirements of the Foundation including the independent examiner's fees and costs linked to the strategic management of the Foundation. Cost of raising funds consists of factor's fees and expenses relating to the properties, as well as other administration expenses incurred.

1.6
Investment property

Investment properties are shown at fair value at the Balance Sheet date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activites for the year.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

Financial instruments are recognised in the Balance Sheet when the Foundation becomes party to the contractual provisions of the instrument. Financial instruments are initially measured at transaction price.

Financial instruments are classified as 'basic' in accordance with Chapter 11 of FRS102. The Foundation only enters into basic financial instruments.

Financial assets a re derecognised when the contractual rights to the cash flows from the asset expire, or when the the charitable company has transfered substantially all the risks and rewards of ownership. Financial liabilities are derecognised only once the liability has been extinguished through discharge, cancellation or expiry.

Basic financial assets

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

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 p aymen ts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Foundation’s contractual obligations expire or are discharged or cancelled.

THE JOHN DOBBIE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 9 -
1.9
Taxation

The Foundation is a charity and is recognised as such by HMRC for taxation purposes. The Foundation’s income is from the letting of property on long term leases which is not subject to taxation with one exception. One property is let as a short-term letting holiday property which is considered by HMRC to be a non-charitable trade and is therefore subject to corporation tax once income exceeds the small trading limit.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Foundation is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11

VAT

The Foundation is not registered for VAT and accordingly expenditure includes VAT where appropriate.

2
Critical accounting estimates and judgements

In preparing the financial statements Directors make estimates and assumptions which affect reported income, expenses, assets and liabilities. Use of available information and application of judgement are inherent in the formation of the estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

The Directors have noted that the investment properties are subject to significant estimate but that the use of underlying assumptions used in these estimates significantly reduces the risk of material misstatement.

3
Raising funds
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£

Factor's fees

8,999
9,250

Property costs

46,294
26,420
55,293
35,670
THE JOHN DOBBIE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 10 -
4
Charitable activities

Charitable Activities

Charitable Activities

2025
2024
£
£
Administration charges
15,303
13,241

Travel expenses

40
121
15,343
13,362
Grant funding of activities (see note 5)
14,538
12,695
Share of governance costs (see note 6)
2,208
2,100
32,089
28,157

All expenditure on charitable activities relates to the one charitable activity of the Foundation; the prevention or relief of poverty, the advancement of citizenship or community development and the relief of those in need by reason of age, ill-health, disability, financial hardship or other disadvantage.

5
Grants payable

Charitable Activities

Charitable Activities

2025
2024
£
£
Grants to institutions:
The House of Glasgow Children's Hospital
2,635
-
CHAS
2,000
-
Beatson Cancer Charity
2,000
2,020
Helensburgh and Lomond Carers SCIO
2,000
2,000
Glasgow Children's Hospital Charity
2,000
2,000
Argyll and Bute Rape Crisis Ltd
1,000
-
British Wireless for the Blind Fund
920
-
Save our waterfront - Helensburgh
500
-
The Edinburgh Rape Crisis Centre
500
-
Craighelen Tennis Club
329
-
Helensburgh Foodbank
358
805
Children's Hospice Association Scotland
-
2,000
Ronald McDonald House Glasgow
-
2,000
The Jordon Legacy
-
1,000
Other grants and donations
296
870
14,538
12,695
THE JOHN DOBBIE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 11 -
6
Governance costs
2025
2024
£
£

Independent examiner fees

2,208
2,100
2,208
2,100
7
Directors

The named Directors, whom are considered to be the key management personnel of the Foundation, are members of the same family. Adrian Flatman is the husband of Doreen Flatman and father of Fenella Letham.

One of the directors, D Flatman, received administration fees of £14,600 (2024: £12,800). D. Flatman, received £40 travel expenses during the year (2024: £121). Reasonable and proper remuneration for other services provided to the Foundation by the Directors and reimbursement for travelling expenses are permitted by the Articles of Association. The total remuneration paid to key management personnel was £14,600 (2024: £12,800). There were no other transactions with related parties.

There was only one employee in the current and prior years. No employee was remunerated more than £60,000.

8
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
1
1
There were no employees whose annual remuneration was more than £60,000.
9
Investment property
2025
£
Fair value
At 1 August 2024 and 31 July 2025
1,536,000

The Directors completed a valuation of the investment properties in the year ended 31 July 2022. They are of the opinion that this valuation continues to reflect the fair value of the properties at the year end.

THE JOHN DOBBIE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
(Continued)
- 12 -
10
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
1,357
630
Prepayments and accrued income
6,525
973
7,882
1,603
11
Creditors: amounts falling due within one year
2025
2024
£
£
Other taxation and social security
241
383
Other creditors
6,143
3,277
Accruals and deferred income
3,000
3,000
9,384
6,660
12
Analysis of net assets between funds
Unrestricted funds
Endowment funds
Total
Unrestricted funds
Endowment funds
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Fund balances at 31 July 2025 are represented by:
Investment properties
1,536,000
-
1,536,000
-
1,536,000
1,536,000
Current assets/(liabilities)
618,944
-
618,944
459,143
134,038
593,181
2,154,944
-
2,154,944
459,143
1,670,038
2,129,181

Following a review of the Foundation's funds, the Directors have noted that there are no restrictions on the Endowment fund and that the funds therein can be used for the charity's purposes as they see fit. As such, they have agreed that this fund should be classified as general unrestricted funds and have transferred the funds at the balance sheet date.

13
Related party transactions

Other than the transactions highlighted in note 7, t here were no disclosable related party transactions in the current and prior year.

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