Charity reyhtralon number SC001586 (Scotlandl
Company Mylslratlon numb•r SCO94927
CRAIGIE DEVELOPMENT LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

CRAIGIE DEVELOPMENT LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Tr￿t*•5
B A Murphy- Retired
R E B Thomson- Retired
E J H Mowal- Solicitor
Charity numb•r {Scotlandl
SC001586
Company numbgr
SC094927
Reglstered offlce
23 Wellington Square
Ayr
Ayrshire
United lfjThJdom
KA7 IHG
Independent oxamin•r
Stephen Wlkne C.
3 ￿￿llingtOn Square
Ayr
Ayrshire
United Kingdom
KA7 1EN
Banker&
Virgin Money
43 Alloway Street
Ayr
KA7 1SP
Invgstment advisors
Ralhbones
George House
SO George Square
Glasgow
G21EH
United Kingdom

CRAIGIE DEVELOPMENT LIMITED
CONTENTS
Pagè
Trustees, report
Slatemenl of Trustees. responsibilities
Independenl examlnef s rapcrt
Slatemenl of )Inanc4al activities
Bal8nc* sheet
statement of cash fl¢)ws
Notes to the financial stslemenls
9-13

CRAIGIE DEVELOPMENT LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustèes presènt their annual report aTrJ financial statements for the year ended 30 September 2025.
The finar￿la1 slalemenls have been prepared in accordance with the a¢¢ounling policiès set out in note 110 the
flnanaal statèments and compty with the Charity's goveming document, the Companies Act 2006 the Charitses
and Trustee Investrnent {ScotLqndl Act 21)05, the Charities Account5 Iscollandl Regulations 2006, FRS 102 'The
Financial Reporting Standard appliGable in the UK and Republic of Ireland" and the charib.es SORP 'A¢￿untIng
and Reporting by Chartties.. Statement of Recommendèd Practicè applicabl8 to charilies preparing their accounts
in accordance wilh the Financial Reporting Standard applicable in Ihtr UK and Republic of Irèland IFRS 102)"
Obl•¢tlvès and a¢tfvitlo8
The purwse of the company Is to provide financial assistance for educational P¥JTposes, where deeme(I suitable
and appropriate, lo individuals and gioups. with priority being given to supporting such individuals and groups
concemed wrLh mental and other disabilities, and to individuals and groups prowding recreats'onal support for
young people. sUrp￿s fuTrJs, after meeting Ihe above, m8y be considered for allocallon to other educ*inal
puw)$es.
Achogvomgnts and perfomianc•
The charity rnade various donations, In￿dIng donations lo lo￿1 foodbanks. Looknng 8he&J. the trustees are
sidering other proieds lo support, $u¢h a$ thè provision of food to schookagad children.
Finan¢ial rnvi•w
Tho results for the year and financial position are shown in Ihts annexed ffinancial stslements. At the year eThJ
£504,66312024- £479.184) was hold in general unrestricted reseffts.
In accordance with the Slatemènl of Recommgnded Practi￿, tha investments have been reflected at market
value
In the opinion oflhe tru$le&s. the state ol the o)mpany's affairs al the Balance Sheet date wa$ $alisfaclory.
The annual income from the invested ¢8Pital 1$ disbursed lo m￿t requests received from applicants whose aims
and needs are deemed by the Iruslees to be in a¢¢ordan¢a wilh th• aims of the company. The rangè of $u¢h
rsquests has extended from help lo parerrts ol children with serious handi(xps. individual requests for support,
and to appropriate 9roups seeking help for educational purposes. The ¢ompany does not seek funding from any
source and onty alt&mpls lo disburse annualy the major Part of the in￿rne from the invested ¢aprtal.
Since the establishment of the ¢ompany li 1985, the caprtal then invested has grown 8le8dily, wilh
corresponding growth in annual Sncome. However, due lo the Current econornic recession. the annual growih of
apital has fallen. Cons¢deration of reduction In Invested ¢apital by major donatKJns wil continue when tim￿9 is
appropriate. This matter is constantly under re￿eW by the trustee$.
R•s•rv•s policy
Unrestrided fund$ can be used in accordance with the Charitsble oblectives at the discTrtlon of the trustees.
Reylri¢ted funds ean onty be used for partiojlar restricted purposes withln the objects of the charlty. Restrictions
arise when spe(#fied by the donor or when fiJnd$ are raised for particular reslricled purposes. All lunds held
within the finanaal statements are restrictèd to the objectives of the charty and musl be used for educalional
purposes onFy.
Invé*tm•nt policy and objectives
The investments were manag&d by Rathbones. Thè investments are managed on a dlscreli¢)nary basis with Iho
prime inveslmenl obje¢tive being a balanc8d portfolio.

CRAIGIE DEVELOPMENT LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
GovernSng docufflent
The CC*tnpany is an incorporated chanty, estsblished by constbtution and is recJ)gnised by the Inland Rgvenue as
a S¢otti$h Charity.
Th8 company is limited by guarantee.
The company is governed by its Memorandum and Artides olAssocialion under the CompaniesAct 1985. The
Board of directurs a￿ eledad under the temis of the Artides of Assodalion.
Th9 dire¢tor concerned ma1￿Y with th¢ day lo day management of the Trust is E J H Mowot.
Membership of the Board of Craigie Development Limf(ed {in¢orpc*rating Craigie Educational DeVelopm￿t
Trust), is by invitation from the Board lo individuals deemed suitable by experience and expertise wilh regard lo
the aims of the company.
The Irusleès who served during the year were..
B A MU￿hy- Retired
R E B Thomson- Retired
E J H Mowat- Solicrtor
RaeNStsn8nt and appointment oftru$t••8
This is the process lo be followed when recri111￿ and appointing a new trustee.11 is cyen to any of the currènt
tru51ee$ Its propose a candidate. To do so. they requir8 lo send a biographical statement prowding relevant dètail
aboul the candidate to the existing trustees together with a written proposal th* the candhlale be inviled to
a¢c8Pt appointment as a trustee. A Board mèeting will then be arranged as soon as rèasonably praCtiCa￿e to
consider the proposed appointment of that candidate. A majority of the existing Iwstees raquire to agree lo the
propo$ed appointment. If majority agreement is achi￿&d. tha candidate will then be inwled to accept
appointment as a Iiusl¢&.
Small Gompanl•$ ox•mpllon
This report has been pr8p3r8d in awdance the provi$ion$ of Part 15 ofthe Companies Act 20C6 relath'ng lo
small companies.
TheT
s. report w
pproved by Ihg Board of Tmstees.
E J H Pknwat- Soli¢ltor
Trustee
Dated." 30 April 2028

CRAIGIE DEVELOPMENT LIMITED
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustèes. who are also the dlreclors of Craigie Development Limited for the purpose of company law, are
responsible for prèparing the Trustees, Report and the financkgl statements in accordance applicable law and
United Kingdom Accounting Standards (United Kingdom GeneralyAccepled Accounting Pra¢tice}.
Company law requires the Truylee$ to prepare ffinancial statements for e8¢h financral year give a true fa
ew of the stsle of affairs of the Charity and ol the incoming re50UTce5 and appli&ion ol resources. induding the
income and expenditure, of the charitable company lor that year.
In preparing these financial slalemenls, the Tru$l•es are required to..
select suitable ac¢ounling policies and then apK4y them Gonsislently.,
- observe the methods and prinaples in Ihe Charrties SORP..
makè judgements and eslimales that are reasonable and prudenl.,
slate whether applicable UK Accountin9 Stsndards have been followed, sybjea to any matorial departures
disdosed and explained in the financial slalemenl$', and
prepare the financi81 statements on the going conc*rn basis un￿sS it is inappropriate to presume that the Charity
will continue in operation.
The Trustees are responsible for keeping adèqu8t& a￿UntIng records that disdosfr wbth reasonable accuracy at
any lime the financial wsition of the Charity and enable Ihem to ensure that the financial slatements comply with
the Companies Act 2006, the Charities and Trustee Investment (Scotlandl Act 2005 and th& Chgrities AcLounts
{S¢ollandl Règulations 2006. They Jro also responsible for safeguaTding thè assets of the Charity and honce for
taking reasi)nable steps for the prevention and detection of fraud and other irregularit*s.

CRAIGIE DEVELOPMENT LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CRAIGIE DEVELOPMENT LIMITED
I report on the financial statements of the Charfty for the year ended 30 September 2025. whlch are set out on
pages 5 10 13.
R•¥p•etfv• rnspoMibilitie$ of TN$tees and oxamlner
The charity tru51ees (who are also the directors of Craigbe Development Limrted for the purpo8ès of company law}
are responsible for the preparation of th8 financial stalements in accordance wrth the lemis of the Charities and
Trustee Investmenl Iscodandl Act 2005 and thè Chanties Accounts (Scolland) Regulations 2006.The Charty
Trustees ¢onsid•r that the audrt requirement of Regulation 1011}{a)-{cl of the Charfties A¢oounts (S¢olland)
Regulations 21KJ6 does nol apply.
It is My ￿SponSIbl1￿Y lo examine the flnandal stalgmenls as required under sectlon 441111¢l of the Charfties and
Trustee Investment IS¢otland) A¢t 2005 and to state whglher particular matters have come to my attenb'on.
B•sts of Independent examlnerfs ¥tstgmont
My examination is earried out in ac¢ordance with Regulation 11 of the Charities Accounts ISco118nd) Regulation$
2006. An eXaMinat￿n indudes a review of Ihe acLounting re¢ords kept by the charity and a comp8ristsn of the
finanual stalemanls presented with thosè records. It also includes consideratitsn of any unusual item5 or di5(408ures
In the finan¢ial statements, and seeking explanations from th8 Iruslees concerning any such matters. The
procedures undertakon do not provide all the eviden¢è that would be required in an 8udrt 8n¢Y consequently I do not
express an audit opinion the view given ty the financial slalemonts.
kndep•nd•nt •xamlngrfs statement
In the course of my examination. no mattor has come to my attention
. which gNes me reasonable cau88 lo believ¢ that in any material respect the iequiiements..
lo keep a¢¢ounling records in 8c¢ordancè with Section 44{1llal of the Charities and Trustee Investment
IS¢otlandl A¢t 2005 and Regulation 4 of the Chariti&s Accounts (Scollandl Regulations 2006. and
lo prepare finanual statements which accord with the a¢¢ounting records and compty with Règulation B of
the Chariti"e$A¢counts Iscotlandl Regulations 2006
have not been met. or
2. to which, in my opinion, attention should ￿ drawn in order lo enable a proper vnder$tsnding of the financial
state￿nIS lo t* reached.
St•ph•n INilkie CA
3 Wellington Square
Ayr
Ayrshire
KA71EN
30 April 2026

CRAIGIE DEVELOPMENT LIMITED
STATEMENT OF FINANCIALACTMTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Unr•$trlcted
funds
202$
UnTestrictsd
fund$
2024
Notes
Incom• from:
Investments
11.453
12,058
Total incomo
11.453
12,058
Exptrndlture on:
Raising funds
Charitable ￿tIvItieS
4.508
8.156
4.373
9,227
Totsl oxp•ndlture
12,664
13,61JO
Net gainsl(losse$l on Investments
26.690
42,772
N•t in¢omè and mov•m•nt in fund•
25.479
41,230
RKon¢llla¢lon of funds-
Fund balances al 1 October 2024
479,184
437,954
Fund bolances at 30 Septsmbgr 2025
504,663
479,184
The statement offinanaal actiw1￿$ Indudes all gains losses reL¥)gnised in the year. All incorne and expenditufe
derfve from continuing èth'v116e6.

CRAIGIE DEVELOPMENT LIMITED
DETAILED STATEMENT OF FINANCIALACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2025
2024
GENERAL FUND
INCOME AND ENDOWMENTS FROM:
lrtome from investments
11.453
12.058
Total income
11,453
12.058
EXPENDITURE ON:
Investm•nt manag•ment costs
Portfolio management
4.508
4.373
Charitsble activiil
D¢n¥tions
Sundry èxpenses
5,800
34
7.000
13
10,342
11,386
Govern*n¢• ¢08ts
Accountancy and legal fees
2,325
2,214
Total •xpendilure
12,867
13,600
N•t l•xpendliurellincom• b•for• galns and los$es
{1,214)
{1.5421
ReallBed recognis¢d galns And 108S
Realised gainslllossesl on fixed asset investrnenls
5,679
GENERAL FUND NET INCOME
431
4.137

CRAIGIE DEVELOPMENT LIMITED
BALANCE SHEET
AS AT30 SEPTEM8ER 2025
2025
2024
Notss
FlxÈd •s$ets
Inveslrnen15
10
472.269
446,992
Current as•ets
Cash at bank and in hand
35.857
35.506
Creditors: amounts falllng duo within
on• y￿￿
11
{3.4631
13,3141
Nel current ￿Sets
32.394
32,192
Total a$$•ts less current liabilities
504,663
479,184
The funds of the Charlty
Unrestricted funds
12
504.663
479,184
504,663
479,184
Th¢ Company is entitled lo the exemption from the audit rnquiremenl wnlained in section 477 of the Companie$A¢t
2IJ06, for the yèar ended 30 September 2025.
The dire¢tors a¢knowbdge their responsibilities for complying with the requi￿MentS of the Companies Act 2006
wrfh resped to accounting records and the preparation of financial slalem8nts.
The members have not required the company to obtain an audit of its financial ststements for the year In question in
a¢eordanGe with secli¢Jn 476.
These financAal statemènts have been p￿p￿ed in accordance with the provlsions appllcaNe lo companiès Subject
to the small companies regime.
The
anaal stateme
were approved by the Trustees onXApril 2026
E J H Mowat- Solicitor
TruJtee
Company ￿gistratIon number SC094927 IScoNandl

CRAIGIE DEVELOPMENT LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2025
2024
Note$
Ca¥h flows from opèrating activities
Cash abswbad by operations
1$
{12,515)
113,440)
Invastlng actlvltitr$
Purchase of ir)veslwnents
Proceeds from disposal of investments
Investmènt income received
(249,618)
251.031
11.453
182.2331
97.433
12.D58
N•t ¢a$h g•n•rnt•d from inve$ting actmtles
12,Be6
27,258
Ne* cash generatsd from flnanclng aetlvltles
N•1 In¢r••$• In cash and cash equivalenl¥
351
13,818
Cash and cash equiv8lenls at beginning of yoar
35.5
21,688
Cash and cash equIv•￿nls at •nd of year
35,857

CRAIGIE DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Accounting poll¢l•¥
Charity Infom￿l10n
The Gharity is governed by ils Memorandum and Arlicles of Association and constilules a limited ¢ompany,
lirnrfed by guarantee as defined by the Companies Act 20C6 Ire9islered number SC094927 {Scotl￿d)I. The
chartty is a 109iSterèd charity number SC001586. The ¢harity is registered with OSCR th• ScA)ttish Charity
Regulator. The thartys règistered office is 23 Wel￿.n9t¢n Square. Ayr, Ayrshire KA7 1HG.
1.1 Accountiny ¢onventlon
The finanaal statemerbts have been prèp8red in accordance with the Charitys governing docajment. the
Companies A¢t 2CX)6 Ihe Charities and Tnjsteè Investment (Scolland) Act 2005, the Charities Account5
(Scollandl Regulations 2006, FRS 102'The Finanryal Reporting Standard applicable in the UK and Republic
of Ireland" and the Charitie$ SORP "Ac£ounling and Reporting by Charities-. Ststement of Recommended
Pra¢ti¢è applicable to Charities preparing their accourts in a¢¢ordance with the Finanaal Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102)" The Charity is a Public Benefit Entity as defined by
FRS 102.
The financial statements org prepared in sterling. which is the fvn¢bonal currency of the Chaiity. Mon¥lary
amounts in Ihese firtancial statements are rounded to the ne8rest £.
12 Charitsble fund$
Unrestricted funds can be used in accordance with the Gharitable objectwes 41 the discretion of the trustees.
RestrKted fiJnds ¢an only be used for particular restricted purposes within the obje¢ts of the charity.
Restrictions arise when spedfied by the donor or when funds are raisad for particular reslri(*ed puwposes. All
fijnds h&ld within the finan￿al slalement$ are restrided to the objectives of the charity and musl be used for
educafjonal purpo$es onty.
1.3 Income
All income is recognised in the Slatemenl of Finanaal Acliwlies once the charbty has entitlement of the funds.
it is probable thot the income wll be received and the omounl can be me8sured roliably.
1A Expendlture
Liabilities are re¢￿gnisell as expendhure as soon as there is 8 legal or conlrasiive obligation Comrnitting the
charity to that èxpenditure, it is probable that a transfer of 8conomic ben&ffts will be required in setmernenl and
Ihe amount of the obligation can be measuied rgliably. Expenditure 15 accounted for on an accrual basis and
has been da55ffied under headings that aggregatè all cost rèlated to the category. Where cosls cannot be
direcuy attributed lo Part￿ular headings they have been allo¢ated on aclNilies on 8 bgsis consistent with the
use of ￿sources.
1.6 Flxgd asset Inv•¥tfflonts
Fixed asset investments are measured al market valuè, Rathbone5, a5 at the balance sheet date. The
Statement of Finan¢i81 Activities includes the nel gains and bsses arising on revaluations and disposals
throughout the year.
1.6 R•alssgd gains and I￿¥**
All gains #nd lossès are taken to the Slatemenl ol Finaneial Activities as they arise. Realised gains and105ses
on investmenls are calculated as the difference between sales proceeds and openlng market value (purchase
date if later). Unreali5ed gains and losses are calculated as the difference be￿eeft market value at the
yèar end and the opening markèt value lor purchase date if later).

CRAIGIE DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Aeeounting polici•s
(Contlnu•dl
1.7 Fund accountlng
Unrestricted lunds can be used in accordance with the ¢harilable objeclwes al the discretion of the trustees.
Reslrided funds can only be used for particular restricted purposes wfthin the objects of the ¢harity.
Restrictions arise when spectfied by the donor or when funds afe raised for particular restricted purposes. All
Jnds hald within the financial 51alements are restricted lo the objectives of the charity and musl be used for
educational purposes only.
Income from Inv•8tments
Unrutrlet•d UnreJtricted
fund¥
funds
2025
2024
Income from listed investments
11,453
12,058
Ewnditur• on ralslng fund$
Unr•strlct•d Unrestricted
fund$
funds
2025
2024
Inv&$tmenl managementfees
4.373
Not movefflent In funds
2025
2024
The net movement in fund5 15 slated aft8r ¢hargingll¢rediting>:
Fees payable for the independènt examination of th¥ ¢haritls finanrAal
$tslèmants
485
460
Support costs allocated to actlvities
2025
2024
Governance costs
2.322
2,214
Analy8ed befvM•n:
Charitable activities
2,322
2,214
TrustOaS
None of the Trustees {or any persons conn8Ct8d wilh them) reeewed any remuTrerat￿n or benefits from the
Charity during the year.
10-

CRAIGIE DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 30 SEPTEMBER 2025
EmployevJ
Tho average monlhly number of ernployeg5 during the year was:
2025
Number
2024
Numb•r
There werp no employees whose annual remuneration was more than £60,CQO.
Taxation
The charity is exempl from laxalion on its activilies b8cause all its inwne is applied for charitable purposes.
Gains and10s8e* on invejlments
Unre•tri¢ted Unrestiicted
fvnds
funds
2025
2024
Gain31{lossesl arising on..
ReV￿U8110n of investments
S81& of Inveslments
25,045
37.093
5,679
26,690
42.772
11

CRAIGIE DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
10 Flxed as$•t Inv95tments
Ustsd
Investm•nts
Cost or valuotion
At 1 Odober 2024
Additions
Valuation changes
Gainlooss) on $319
Disposa15
446.992
249.818
25,(145
1,645
1251,0311
AI 30 September 2025
472,269
Carylng amount
At 30 Sèptember 2025
472.269
AI 30 Septen*Jer 2024
446,992
2025
2024
Investments at fair value comprise:
UK and Overseas Equrties
UK and Overseas Fixed Interest
AlemativttA$$els, UK Property, Emerging Economres
3S8,735
55,209
58,325
257.442
101,934
87.616
472,269
446.992
$1od investments included above..
202S
2024
Investments al L¥)st
433,378
4CQ,125
Investments held #t 30th Septembar 2025 th81 accounted for over S°A of the total portfolio by value ar8..
Artemis Funds Managèrs Income E
Artemi$ Funds Managers Corporale Bond E
JP Morgan ETFS IRE US REI
JP Morgan Fund ICVC JPM UK EQ Core E
TM Nataxis Inv FDS INA)
£26,831
£23,626
£29,067
£26,847
£29,129
12-

CRAIGIE DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
11 Credltorn: amounts falling du• wlthln one year
2025
2024
Accruals and deferred income
3,463
3.314
12 Unrèstricted lunds
The incrrfne lund$ of thg charity include the following g&n•ral fund..
At l OrAobor
2024
Incoming
vesources
R•$ourcos
expended
Gains and
lo•$es
At30
September
2025
General fund
479.184
11,453
112.6641
26.690
504,663
Pr•vious yoar:
At 1 Octob•r
2023
Ineomlng
ve¥our¢
ReSou￿e3
expeftded
G*in¥ and
lo$¥e•
At30
Septsmbèr
2024
General fund
437,954
12.058
113.6001
42,772
479,184
13 Relat•d paty transa¢tiofts
There were no disdo$able related p8ty transaGtion$ dvring the year12024- nonel-
14 Ana￿1• of ¢hang•8 In Mtfundj
The Charity had no matèrial debt during the year.
IS Cash absorb￿ by opratlons
2025
2024
Surplus for the year
25,479
41,230
AdJu$lments for.
Investment income recogni5ed in slalement of financial actNitYd5
Gain on disposal of invèslmènls
Fair value gains and lossès on investrnentS
{11,453)
11.6451
125,0451
112,058}
15,679)
137,093}
Movements in working capital:
Increase in creditots
149
160
Ca8h absothd by operntions
{12.515)
113.440}
13-