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Bank of Scotland Foundation

Scottish charity SC032942 · record on the Scottish Charity Register (OSCR) · accounts PDF

Latest income
£8.0m
Latest spending
£8.3m
Accounts read
FY2025

Financial health, per FY2025 accounts

The accounts state that the charity held £2.42 million in unrestricted reserves at year-end, which the Trustees consider appropriate to cover 12 months of operating costs given that staff costs are met by the parent group. The charity is funded solely by Lloyds Banking Group plc through a funding covenant and a letter of funding, with the Trustees confirming adequate resources for the foreseeable future.

What the accounts disclose

Reserves position: below the charity's own stated policy
“As at 31 December 2025 the Foundation held £2.42 million (2024: £2.73 million) in unrestricted funds reserves (equal to total free reserves). The Foundation holds free reserves to cover 12 months' operating costs at any one time and, as the Foundation's staff costs are met by Lloyds Banking Group, the Trustees consider this level of reserves to be appropriate.” — page 11
Per FY2025 accounts as filed with OSCR.
Related-party transaction: The Foundation received £6,567,365 (2024: £6,859,192) under the terms of the funding covenant in the year. The Foundation also received £410,056 under the terms of the letter of funding for the Thrive grant programme. Furthermore, the Group paid costs of £497,656 (2024: £406,442) on behalf of the Foundation.
“The Foundation received £6,567,365 (2024: £6,859,192) under the terms of the funding covenant in the year. The Foundation also received £410,056 under the terms of the letter of funding for the Thrive grant programme. Furthermore, the Group paid costs of £497,656 (2024: £406,442) on behalf of the Foundation. These costs have been paid in accordance with the terms of the funding covenant. At 31 December 2025 a balance of £8,378,288 (2024: £6,733,397) was held in bank accounts with Bank of Scotland plc. The Foundation also received interest of £488,773 (2024: £190,090) in the year. Each Trustee, except Sabah Homes, Kenneth Macintosh, Julianne Reddin and Graeme Thompson, is an employee of the Group and receives remuneration as a result of this employment.” — page 26
Per FY2025 accounts as filed with OSCR.
Register data and accounts from the Scottish Charity Regulator (OSCR), used under the Open Government Licence. Automated analysis; the filed accounts are authoritative.