The University of Aberdeen Development Trust (Charity Number SC002938)
Financial Statements For the year ended 31 July 2025
| Contents | Page |
|---|---|
| Chair Report | 2 |
| Report of the Trustee, including Statement of Trustees’ Responsibilities | 3 |
| Independent Auditor’s Report to the Trustee of the University of Aberdeen Development | 6 |
| Trust | |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 11 |
| Notes to the Financial Statements | 12 |
The University of Aberdeen Development Trust Chair Report for the Year Ended 31 July 2025
I am pleased to provide a brief introduction to the Annual Accounts for the University of Aberdeen Development Trust (SC002938). The sole Trustee is the University of Aberdeen Development Trust SCIO, with the SCIO being the primary recipient of donations. The Trust (SC002938) will remain open for as long as necessary to receive donations that cannot come to the SCIO.
I again invite the readers of these accounts to discover more from the University of Aberdeen Development Trust SCIO (SC050996) Annual Report, which also incorporates the results of the original Trust, in the Group accounts.
Total income of the Trust for 2025 was £64k (2024: £147k) including £60k for donations and legacies (2024: £141k), and £4k from investment income (2024: £6k). There was no income in 2025 relating to operational funding.
There were no direct awards for University projects in this year. All donations, including a residual balance from the prior year, were transferred for disbursement from the SCIO, this totalled £67k.
Closing cash balances were £164k compared with £171k in the prior year.
Unrestricted funds have been retained to meet future governance costs. The balance of £264k of restricted funds comprises of a legacy of which Trust has been notified, but for which the funds are yet to be received.
With many thanks to our donors for gifts received into the Trust and to our colleagues in Finance for their oversight of the Trust.
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Paul Hauser
Chair of the Board of Trustees of the SCIO on behalf of the Trustee
Date: 26 February 2025
2
The University of Aberdeen Development Trust Report of the Trustee for the Year Ended 31 July 2025
Statement of the Trustee’s responsibilities in relation to the financial statements
Under charity law, the Trustee is responsible for preparing a Trustee’s Annual Report and financial statements for each fiscal year which show a true and fair view of the affairs of the charity and of the excess of income over expenditure for that period. The Trustee has elected to prepare the financial statements in accordance with UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
In preparing these financial statements, generally accepted accounting practice entails that the Trustee:
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selects suitable accounting policies and applies them consistently;
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makes judgements and estimates that are reasonable and prudent;
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states whether the recommendations of the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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states whether the financial statements comply with the trust deed and rules, subject to any material departures disclosed and explained in the financial statements;
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assesses the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
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uses the going concern basis of accounting unless it either intends to liquidate the charity or to cease operations or has no realistic alternative but to do so.
The Trustee is required to act in accordance with the trust deed and the rules of the charity, within the framework of trust law. It is responsible for keeping proper accounting records, sufficient to disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the Trustee to ensure that, where any statements of accounts are prepared by it under the Charities and Trustee Investment (Scotland) Act 2005, those statements of accounts comply with the requirements of regulations under that Act. It is responsible for such internal control as it determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and has general responsibility for taking such steps as are reasonably open to it to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
The Trustee is responsible for the maintenance and integrity of the financial and other information included on the charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The Trustee presents its report and audited financial statements for the year ended 31 July 2025. This report is prepared in accordance with the recommendations of the Statement of Recommended Practice (FRS102) and complies with applicable law and regulations.
Reference and Administration Details
The University of Aberdeen Development Trust has been entered into the Scottish Charity Register and is entitled, in accordance with section 13 (1) of the Charities and Trustee Investment (Scotland) Act 2005, to refer to itself as a charity registered in Scotland (Scottish Charity number SC002938).
The University of Aberdeen Development Trust is a registered charity (Scottish Charity number SC002938) that appeals for, and receives, private funds for the benefit of the University of Aberdeen, for the purposes set out below. It was formed by the University Court on 27 August 1982 and, following the transfer of the assets of the Trust to the newly formed University of Aberdeen Development Trust SCIO (SC050996), the original Trust’s sole Trustee is the Trust SCIO.
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The University of Aberdeen Development Trust Report of the Trustee for the Year Ended 31 July 2025
The Trustee during the financial year or thereafter to the date of this report is:
The University of Aberdeen Development Trust SCIO (SC050996)
The University of Aberdeen Development Trust (SC002938) and its affairs are now administered by the Trust SCIO. As a result, there is no longer a Senior Management Team in place.
Principal Advisors and Professional Services
Auditor: Banker: EY LLP Bank of Scotland G1 Building 39 Albyn Place 5 George Square Aberdeen Glasgow AB10 1YN G2 1DY
Principal Address: The University of Aberdeen Development Trust Powis Gate, College Bounds Aberdeen AB24 3UG
Structure, Governance & Management
The Trust remains governed by the updated Deed of Trust, ensuring that all activities are aligned with the standards of best practice pursued by all leading charities.
The terms of the Deed of Trust encourage developments in the University of Aberdeen and the promotion of research therein. The purposes of the Deed of Trust, approved by the Office of the Scottish Charity Regulator (OSCR), have been updated as follows following the creation of the SCIO:
To further the charitable purposes of the SCIO and in so doing:
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in order to advance education and other charitable activities of the University, to receive and ingather any legacies, donations and other payments (the “Legacies”) to the Trust and to then pay or make over the Legacies to the SCIO; and
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in the event that the SCIO no longer exists, in order to further the charitable purposes of the University, to pay or make over the Legacies to the University.
Trustee The SCIO Board of Trustees is required to meet at least four times per year to monitor the Trust’s performance and to discuss long and short-term strategic issues.
Key Management Personnel Remuneration All SCIO Trustees gave their time freely and no SCIO Trustee remuneration was paid in the year. Details of SCIO Trustee expenses are disclosed in note 6 to the accounts.
The Trust has no employees so there were no direct personnel costs.
Related Parties Transactions with related parties are disclosed in note 14 to the accounts.
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The University of Aberdeen Development Trust Report of the Trustee for the Year Ended 31 July 2025
Objectives and Activities
Summary of Aims and Objectives
The Trust continues to carry out its activities in support of its founding mission to attract philanthropic support for the University of Aberdeen. However, substantially all of this activity was transferred to the Trust SCIO in February 2023. The main activities of the Trust are restricted to the receipt of legacies and gifts that cannot be received directly into the Trust SCIO. Such gifts will be transferred to the Trust SCIO whilst ensuring that their initial purposes are retained.
Investment Performance
The Trust no longer holds an investment portfolio following the transfer to the Trust SCIO in February 2023.
Financial Review
Since the transfer of the majority of the Trust’s assets to the Trust SCIO in February 2023, there has been minimal activity within the Trust. Overall, there was a reduction of £11k in the funds of the Trust during the year.
Total income of the Trust for 2025 was £64k (2024: £147k) including £60k for donations and legacies (2024: £141), and £4k from investment income (2024: £6k). There was no income in 2025 relating to operational funding.
There were no awards for University projects for the 12 months to 31 July 2025, all donations were transferred to the Trust SCIO reflecting the intent of the donor. There was £4k in fundraising costs incurred during the year in the form of legal fees and a further £4k in governance costs related to the audit.
Net outgoing resources were £11k, which is the same as the prior year. Closing cash balances were £164k compared with £171k in the prior year.
Unrestricted funds of £162k have been retained to meet future governance costs and the balance of £265k of restricted funds comprises a legacy that the Trust has been notified of, but the funds are yet to be received.
Plans for Future Periods
Key Aims and Objectives for Future Periods
The Trust has been retained purely collect legacies and gifts that are unable to be awarded directly to the SCIO. Note 1 to the Accounts refers to our resulting assessment of going concern.
As ever, the Trust remains committed to operating at the highest level of governance best-practice and this will continue as long as the Trust remains active.
The Trust remains committed to the management and disbursal of funds in accordance with its Deed of Trust.
By order of the Trustee
Mr Paul Hauser
Chair of the Board of Trustees of the University of Aberdeen Development Trust SCIO on behalf of the Trustee
Date: 26 February 2025
5
Independent Auditor’s Report to the Trustees of the University of Aberdeen Development Trust for the Year Ended 31 July 2025
Opinion
We have audited the financial statements of the University of Aberdeen Development Trust for the year ended 31 July 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the related notes 1 to 15, 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), including FRS 102 “The Financial Reporting standard applicable in the UK and Republic of Ireland”.
In our opinion the financial statements:
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give a true and fair view of the state of the charity’s affairs as at 31 July 2025 and of its incoming resources and application of resources for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with 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 Auditor’s responsibilities for the audit of the financial statements section of our report below. We are independent of the charity 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.
Emphasis of matter – financial statements prepared on a basis other than going concern
We draw attention to note 1 to the financial statements which explains that the Trustee intends to wind down the Development Trust following the creation of the University of Aberdeen Development Trust SCIO (SCO50996) and the subsequent transfer of the vast majority of the Development Trust’s assets. The Trustee does not therefore consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 1. Our opinion is not modified in respect of this matter.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained in the annual report.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
6
Independent Auditor’s Report to the Trustees of the University of Aberdeen Development Trust for the Year Ended 31 July 2025
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 the other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) regulations 2006 requires us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
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proper accounting records have not been kept ; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees are responsible for the preparation of the financial statements and for being satisfied that 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 charity’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 management either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 an auditor ’ s report 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.
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Independent Auditor’s Report to the Trustees of the University of Aberdeen Development Trust for the Year Ended 31 July 2025
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
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We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant are FRS 102 and the Charities Statement of Recommended Practice.
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We understood how the University of Aberdeen Development Trust is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through our review of the Board of Trustees of the SCIO meeting minutes, as well as consideration of the results of our audit procedures to either corroborate or provide contrary evidence which was then followed up.
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We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where they considered there was susceptibility to fraud. Where this risk was considered higher, we performed audit procedures to address the risk of fraud and management override.
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Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved enquiries of management, those charged with governance and those responsible for legal and compliance procedures; journal entry testing with a focus on journals indicating large or unusual transactions based on our understanding of the business; review of Board of Trustee meeting minutes to identify non-compliance with laws and regulations, and inspection of any correspondence between the charity and the Office of the Scottish Charity Regulator.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s members, 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 charity’s trustees those matters we are required to state to them in an auditor’s 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 charity, the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
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Ernst & Young LLP, Statutory Auditor Glasgow Date
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The University of Aberdeen Development Trust Statement of Financial Activities for Year Ended 31 July 2025
| Note Income from: Donations and Legacies 2 Investments 3 Total Income Expenditure on: Fundraising Costs 4 Expenditure on Charitable Activities: Grants Awarded 5 Governance Costs 5 Transfers to University of Aberdeen Development Trust SCIO Total Expenditure 6 Net (Expenditure)/Income before Gains & Losses on Investments Transfers Net Income/Movement in Funds Total Funds at 1 August 2024 Total Funds at 31 July 2025 |
Unrestricted Funds £000 - 4 4 - - - 4 - 4 4 - - - 162 **162 ** |
Restricted Funds £000 60 - 60 4 4 - - 67 67 71 (11) - (11) 275 **264 ** |
Endowment Funds £000 - - 0 - - - - - - - - - - - - |
Total Funds 2025 £000 60 4 64 4 4 - 4 67 71 75 (11) - (11) 437 426 |
Total Funds 2024 £000 141 6 |
|---|---|---|---|---|---|
| 147 | |||||
| (1) | |||||
(1) - 8 150 |
|||||
158 |
|||||
157 |
|||||
| (10) - |
|||||
(10) 447 |
|||||
| 437 |
9
The University of Aberdeen Development Trust Balance Sheet as at 31 July 2025
| Note Current Assets Debtors 7 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 8 Net Current Assets Total Assets less Current Liabilities Net Assets Represented by: Funds of the Charity Unrestricted Funds Restricted Funds Total Charity Funds 9 |
2025 £000 268 164 432 (6) 426 426 426 162 264 426 |
2024 £000 274 171 |
|---|---|---|
| 445 | ||
| (8) | ||
| 437 | ||
| 437 | ||
| 437 | ||
| 162 275 |
||
| 437 |
The financial statements of the University of Aberdeen Development Trust (Registered Charity SC002938) on pages 9 to 17 were approved by the SCIO Board of Trustees and signed on its behalf on 26 February 2026 by:
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Mr Paul Hauser
Chair of the Board of Trustees of the University of Aberdeen Development Trust SCIO on behalf of the Trustee
10
The University of Aberdeen Development Trust Cash Flow Statement for the Year Ended 31 July 2025
| Note Cash Flows from Operating Activities: Net Cash provided by operating activities 11 Cash flows from Investing Activities: Bank interest 3 Net cash provided by Investing Activities Cash flows from Financing Activities: Change in cash and cash equivalents 13 Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year |
2025 £000 (11) 4 4 - (7) 171 **164 ** |
2024 £000 (32) 6 |
|---|---|---|
| 6 - |
||
| (26) 197 |
||
| 171 |
11
The University of Aberdeen Development Trust Notes to the Financial Statements for the Year Ended 31 July 2025
Note 1
Principal Accounting Policies
[The financial statements for the year ended 31 July 2025 have been prepared in accordance with ] applicable Accounting Standards in the United Kingdom, the recommendations set out in the Statement of Recommended Practice - "Accounting and Reporting by Charities (FRS102 – effective 1 January 2019)”, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements. The financial statements are prepared in accordance with the historical cost convention, apart from investments which have been stated at market value.
Management has made judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. Notable judgements pertain to the recognition of legacies and investment income amounts. The cash value obtained could differ from any estimates made.
Going Concern
As explained in the Chair’s Report, the Trustee intends that the Development Trust will wind up as soon as is feasible and has been retained purely collect legacies and gifts that are unable to be awarded directly to the SCIO. As a result, the Development Trust is expected to become dormant in due course and the financial statements have been prepared on a basis other than that of the going concern basis. No provision has been made for the future costs of terminating the Trust unless such costs were committed at the reporting date. Unrestricted reserves carried forward are £162k, which is sufficient to meet all forecast costs and agreement is in place with the University of Aberdeen for the year to 31 July 2026 for any additional costs to be borne by the University.
Investments
The Trust only holds cash deposits. All other investments were transferred to the SCIO in 2023.
INCOME
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Donations or legacies notified to the charity, but which do not meet the criteria are disclosed, where material, as a contingent asset. Specific income sources are recognised as follows:
Donations
Donations and gifts are recognised in the statement of financial activities in the year of receipt. Where there is sufficient evidence to provide the necessary probability that a donation will be received and the value of the incoming resources can be measured with sufficient reliability, the donation is accrued for. Pledges are only recognised once the gift has been received, gifts of investments are recorded at market value on the date of transfer.
Legacies
Legacies are credited to the statement of financial activities in the year of receipt. Where there is sufficient evidence to provide the necessary probability that a legacy will be received and the value of the incoming resources can be measured with sufficient reliability, the legacy is accrued for. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Investments
Interest on bank deposits is credited in the year in which they are receivable. All other investments were transferred to the SCIO in 2023.
12
The University of Aberdeen Development Trust Notes to the Financial Statements for the Year Ended 31 July 2025
Note 1
Principal Accounting Policies - continued
EXPENDITURE
All expenditure is accounted for on an accruals basis. All expenses including support and governance costs are apportioned to the applicable expenditure heading as detailed below.
Grants to University of Aberdeen
Payments of grants to the University are recognised when an approved offer is communicated and are charged directly to the appropriate fund.
Support Costs
Management & administration costs are charged to unrestricted funds, these include the cost of administration and support staff and other costs associated with the general operation of the Trust. All support costs are allocated to the single charitable activity of the provision of funding to the University of Aberdeen.
Trade and Other Debtors
The Trust does not extend credit and therefore has no trade debtors.
Other debtors are measured at amortised cost and comprises accrued legacies that are recognised in line with SORP recognition guidelines.
Trade and Other Creditors
Trade and other creditors are measured at amortised cost.
Financial Instruments
The Trust is deemed to hold only Basic Financial Instruments, comprising Cash and Cash Equivalents, which are shown at nominal value.
Risk Management
Credit Risk
Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Trust. The Trust’s credit risk arises wholly from cash deposits.
The credit risk of liquid funds is limited because the counterparty is a banks with investment grade ratings assigned by international credit-rating agencies, limiting the exposure to credit risk on these balances.
The SCIO does not extend credit to debtors and income is wholly through non-exchange transactions.
Liquidity Risk
Liquidity risk is the risk that the Trust will not be able to meet its financial obligations as they fall due. The Trust manages liquidity by maintaining sufficient cash reserves to cover expected operating expenses and trade payables. Given the level of highly liquid nature of the Trust’s assets, the Trust has access to sufficient liquid resources.
Taxation
The Trust is recognised by HM Revenue & Customs as a charity for the purposes of s505 of the Income and Corporation Taxes Act 1988 and is exempt from corporation tax on its charitable activities.
Cash
Cash, for the purpose of the cash flow statement, comprises cash in hand and deposits repayable on demand.
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The University of Aberdeen Development Trust Notes to the Financial Statements for the Year Ended 31 July 2025
Note 1
Principal Accounting Policies - continued
Funds Policy
Funds are analysed between restricted, unrestricted and endowment funds. Unrestricted funds are predominantly used for fundraising and administrative activities. Restricted funds are created to meet the wishes of donors or for major campaigns. Endowment funds are created to establish a fund whereby only the annual income can be awarded and is often used to preserve the longevity of scholarships or prizes. Awards are only made to the University where sufficient funds exist or where income is guaranteed in the future. Funds will usually only be in deficit due to timing differences.
Note 2
Voluntary Income
| Note 2 Voluntary Income |
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|---|---|---|---|---|---|
| Gifts & Donations Legacies |
Unrestricted Funds £000 - - **- ** |
Restricted Funds £000 67 (6) 60 |
Endowment Funds £000 - - - |
Total 2025 £000 67 (6) 60 |
Total 2024 £000 138 3 |
| 141 |
The legacy has yet to be received by the Trust and is currently held in an investment portfolio prior to liquidation. In year the value of the investments decreased so the carrying amount has been reduced.
Note 3
I nvestment Income
| Note 3 Investment Income |
|||||||
|---|---|---|---|---|---|---|---|
| Interest on Cash Deposits Note 4 Fundraising Costs Publications & Subscriptions Other Costs Note 5 Charitable Activities For the Provision of: Grants Awards |
Unrestricted Funds Restricted Funds £000 £000 4 - Unrestricted Restricted Funds Funds £000 £000 - - - 4 - 4 Support and Governance Costs £000 4 |
Endowment Funds £000 |
Total 2025 £000 4 Total 2025 £000 - 4 4 Total 2025 £000 4 |
Total 2024 £000 |
|||
- |
6 |
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| Unrestricted Funds £000 - - |
Endowment Funds £000 - - |
Total 2024 £000 1 (2) |
|||||
| - | - |
(1) |
|||||
| Grant Activity £000 - |
Total 2025 £000 4 |
Total 2024 £000 8 |
|||||
Grants to the University of Aberdeen are to support teaching, research, student support and other major capital projects. Support and governance costs relating to the provision of these grants is audit costs.
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The University of Aberdeen Development Trust Notes to the Financial Statements for the Year Ended 31 July 2025
Note 6 Total Expenditure
| Transfer to University of Aberdeen Development Trust SCIO Generating Voluntary Income Governance Costs Grant Awards to University of Aberdeen |
Staff Costs £000 - - - - - |
Other Costs £000 67 4 4 - 75 |
Total 2025 £000 67 4 4 - 75 |
Total 2024 £000 150 (1) 8 - |
|---|---|---|---|---|
157 |
During the year to 31 July 2025 the University of Aberdeen Development Trust had no direct employees. Staff costs were donated by the University of Aberdeen to the University of Aberdeen Development Trust SCIO during the year.
Due to the transfer of activities to the SCIO in the previous year, there were no travelling or subsistence expenses paid from the Development Trust to the Board of the Trustee in the year (2024: £nil).
Governance costs are the audit expenses for the entity. These are paid by the parent charity and recharged in current and prior year.
| Note 7 Debtors: Amounts falling due within one year Other Debtors Note 8 Creditors: Amounts falling due within one year Trade Creditors Note 9 Movement in Reserves Funds at 1 August 2024 £000 Restricted Funds 275 Endowment Funds - Unrestricted Funds 162 437 Funds at 1 August 2023 £000 Restricted Funds 284 Endowment Funds - Unrestricted Funds 163 447 |
Incoming £000 60 - 4 64 Incoming £000 124 17 6 147 |
2025 £000 268 2025 £000 6 Outgoing £000 (71) - (4) (75) Outgoing £000 (133) (17) (7) (157) |
2025 £000 268 2025 £000 6 Outgoing £000 (71) - (4) (75) Outgoing £000 (133) (17) (7) (157) |
2024 £000 |
|
|---|---|---|---|---|---|
| 274 | |||||
| 2024 £000 |
|||||
| 8 | |||||
| Outgoing £000 (71) - (4) (75) Outgoing £000 (133) (17) (7) (157) |
Funds at 31 July 2025 £000 264 - 162 |
||||
| 426 | |||||
| Funds at 31 July 2024 £000 275 - 162 |
|||||
| 437 |
15
The University of Aberdeen Development Trust Notes to the Financial Statements for the Year Ended 31 July 2025
Note 9
Movement in Reserves - continued
Unrestricted funds may be used by the Trust for any purpose and currently support administration costs. Restricted funds are to be used for particular purposes specified by the donor and are listed on page 17 in Note 15 – Movement in Funds for the Year. Endowment funds are a subcategory of Restricted fund whereby, as standard practice, only the accumulated annual investment income is available for the specified charitable activities.
Note 10 Analysis of Net Assets between Funds
| Restricted Funds Unrestricted Funds |
Net Current Assets £000 264 162 426 |
Funds at 31 July 2025 £000 264 162 426 |
Funds at 31 July 2024 £000 275 162 |
|---|---|---|---|
437 |
Individual funds are listed in Note 15 – Movement in Funds for the Year.
Note 11
Reconciliation of Changes in Resources to Net Cash Inflow from Operating Activities
| Net Incoming Resources for the Year Investment Income Decrease/(Increase) in Debtors (Decrease)/Increase in Creditors Net Cash Inflow from Operating Activities Note 12 Reconciliation of Net Cash Flow to Movement in Net Funds (Decrease)/Increase in Cash during the Year Net Funds at the Beginning of the Year Net Funds at the End of the Year Note 13 Analysis of Change in Cash during the Year 2025 £000 Cash at Bank and held for Investments 164 |
2025 £000 (10) (4) 6 (3) (11) 2025 £000 (7) 171 164 2024 £000 171 |
2024 £000 (10) (6) 25 (41) |
|---|---|---|
| (32) | ||
| 2024 £000 (26) 197 |
||
| 171 | ||
| Movement £000 (7) |
Note 14 Related Parties
In the 2024/25 financial year the University of Aberdeen Development Trust directly received donations from Trustees totalling £nil without conditions (2024: £nil). There were no donations made by Trustees requiring separate disclosure as outlined in the Charities SORP (FRS102).
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The University of Aberdeen Development Trust Notes to the Financial Statements for the Year Ended 31 July 2025
Note 14
Related Parties - continued
The following related party transactions have been identified for disclosure for the University of Aberdeen Development Trust.
| 2025 Organisation Relationship The University of Aberdeen Development Trust SCIO Parent 2024 Organisation Relationship The University of Aberdeen Charity The University of Aberdeen Development Trust SCIO Parent Note 15 Movement in Funds for the Year Restricted Funds Legacy Accruals Transferred to University of Aberdeen Development Trust SCIO in full Endowment Funds Unrestricted Funds Operations Total Funds |
Nature Receipts Payments £000 £000 Transfer of assets - 78 Nature Receipts Payments £000 £000 Operations/Grants 1 - Transfer of assets - 150 Funds at 1 August 2024 £000 Incoming £000 Outgoing £000 Funds at 31 July 2025 £000 275 (7) (4) 264 - 67 (67) - 275 60 (71) 264 - - - - 162 4 (4) 162 437 64 (75) 426 |
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17