Glenboig Development Trust (SCIO)
Latest income
£699k
Latest spending
£862k
Accounts read
FY2025
Form
SCIO (Scottish Charitable Incorporated Organisation)
Financial health, per FY2025 accounts
The accounts state that the charity generated a net deficit of £163,239 for the year ended 31 March 2025, resulting in total funds decreasing to £2,742,000. The trustees aim to maintain free reserves at a level equating to approximately three months of unrestricted charitable expenditure, but the current unrestricted funds of £333,378 are below this target. The independent auditors issued a qualified opinion due to insufficient accounting records and the inability to prepare cashflow forecasts for a 12-month period.
What the accounts disclose
Going concern: doubt noted
“As noted within the Report of the Independent Auditors, they have issued a qualified opinion for insufficient accounting records and preparation of cashflow forecasts for a period of at least 12 months from the date of approval of the financial statements.” — page 8
Per FY2025 accounts as filed with OSCR.
Employees paid over £60,000: 0
Per FY2025 accounts as filed with OSCR.
Reserves policy: three months of unrestricted charitable expenditure (held: £333k)
“The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure.” — page 8
Per FY2025 accounts as filed with OSCR.
Independent examiner: The Kelvin Partnership Ltd
Per FY2025 accounts as filed with OSCR.