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2025-08-20-accounts

Miss Anne H Cruickshank Special Trust (Charity Number SC006614)

Financial Statements For the year ended 20 August 2025

Miss Anne H Cruickshank Special Trust Trustees Annual Report for the Year Ended 20 August 2025

Contents Page
Report of the Trustees, including Statement of Trustees’ Responsibilities 2
Independent Examiner’s Report to the Trustees 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 8
Notes to the Financial Statements 9

1

Miss Anne H Cruickshank Special Trust Report of the Trustees for the Year Ended 20 August 2025

Objectives & Activities

The Miss Anne H Cruickshank Special Trust (‘the Trust’) was created by Miss Anne Hamilton Cruickshank who resided at 20 Rose Street, Aberdeen in terms of her Will dated 19th March 1898 and Codicils dated 20th February 1903 and 23rd November 1905, all registered in the Books of Council and Session on 10th June 1911.

The purpose of the Trust is to assist the University of Aberdeen in promoting or advancing any of its interests or objects, and also of perpetuating the memory of her late father, Professor John Cruickshank, with funds specifically set aside for:

During the year, the Trustees continued to manage the Trust with regard to its founding purposes. The Trust’s investment portfolio is monitored by stockbrokers, RBC Brewin Dolphin, who provide regular reports and valuations for the Trustees. These reports form the basis of investment decisions.

Achievements & Performance

Grants awarded to the University during the year amounted to £79,600. This included the annual awards of £400 towards the Science Library, £200 towards the Cruickshank Law Prize and £9,000 towards the Lectureship in Astronomy. A further grant of £70,000 was made in the year to support a specific oneoff project, that being the creation of an Observatory facility within the Cruickshank Botanic Gardens, including the purchase of related equipment, in support of teaching and research in astronomy and for wider public benefit.

Financial Review

Total income of the Trust for 2025 was £26,892 (2024: £30,224) which was all investment income, as per the prior year. Funds granted in the year amounted to £79,600 (2024: £9,600). There were investment proceeds of £373,591 (2024: £371,308) against investment purchases of £358,026 (2024: £372,969). These resulted in realised gains of £517 (2024: £15,520).

Net outgoings for the year were £58,771 in the year compared to (£14,721) in the previous year. Cash levels decreased by £41,951 during the year to £70,593 (2024: £112,544). Unrestricted funds as at 20 August 2025 amounted to £56,060 (2024: £108,744), of which £19,761 are Designated for the purpose of awarding grants (2024: £63,626). Restricted funds were £908,337 (2024: £892,262).

Investment Performance

The Trust’s investment portfolio underwent further restructuring during the year, ultimately maintaining overall levels at a market value of £892,063 as at 20 August 2025 compared with £885,581 in the prior year (excluding cash held for investment).

Following discussions with the investment manager, RBC Brewin Dolphin, the Trustees agreed to a reduction in the income bias within the Trust, and a move to a more unconstrained mandate. This entails a greater focus on “growth” orientated investments with the aim of generating greater levels of total return over the long term. Given the sustained income surplus and substantial cash which has been accumulated in the Trust to date, this was agreed to be appropriate. It was also agreed that direct investment in US stocks will be included within the portfolio going forward to provide targeted exposure to favoured areas of structural growth, as well as reducing costs associated with third party funds.

Trustees’ responsibilities in relation to the financial statements

Under charity law, the Trustees are responsible for preparing a Trustees’ Annual Report and financial statements for each fiscal year which show a true and fair view of the state of affairs of the charity and of the excess of income over expenditure for that period. The Trustees have 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.

2

Miss Anne H Cruickshank Special Trust Report of the Trustees for the Year Ended 20 August 2025

In preparing these financial statements, generally accepted accounting practice entails that the Trustees:

The Trustees are required to act in accordance with the constitution and the rules of the charity, within the framework of charity and other relevant laws. They are 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 Trustees to ensure that, where any statements of accounts are prepared by them under the Charities and Trustee Investment (Scotland) Act 2005, those statements of accounts comply with the requirements of regulations under that Act. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.

The Trustees are 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.

Trustees and Key Management Personnel

The Trustees who served during the financial year or thereafter to the date of this report are:

Professor George Boyne (Chair / Ex-Officio) Professor David Burslem (Ex-Officio) Professor Jarek Kedra (Ex-Officio) Mr Roderick John Begbie (Life Trustee) Dr Stuart John Wale (Life Trustee) Mr David Atkinson (Life Trustee)

Subsequent to the financial year end, Professor George Boyne retired on 31 October 2025 as Principal and therefore as an ex-officio Trustee. Professor Peter Edwards was appointed as Principal from 1 November 2025 and therefore became an ex-officio Trustee from that date.

Reference and Administrative Details

The Miss Anne H Cruickshank Special 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 SC006614).

Principal Advisors and Professional Services

Investment Advisor: Banker: Principal Address: RBC Brewin Dolphin Bank of Scotland Miss Anne H Cruickshank Special Trust Sixth Floor, Atria One 39 Albyn Place c/o Principal’s Office 144 Morrison Street Aberdeen King’s College Edinburgh AB10 1YN University of Aberdeen EH3 8BR Aberdeen AB24 3FX

3

Miss Anne H Cruickshank Special Trust Report of the Trustees for the Year Ended 20 August 2025

Structure, Governance & Management

The Miss Anne H Cruickshank Special Trust is a charity registered with the Office of the Scottish Charity Regulator (OSCR). It is governed by its Trust Deed, ensuring that its activities align with its charitable purposes as articulated therein, and detailed here:

Being desirous of assisting the University of Aberdeen and promoting or advancing any of its interests or objects and also of perpetuating the memory of her late father, Professor John Cruickshank, Miss Cruickshank instructed her Trustees to set aside funds from her estate for:

Trustee Recruitment and Appointment

There are three Ex-Officiis Trustees and three Life Trustees appointed under the Trust Deed. The ExOfficiis Trustees are the Principal, the Professor of Mathematics and the Professor of Botany at the University of Aberdeen, and their successors in office. On the death, resignation or incapacity of any of the Life Trustees, the remaining Life Trustees must appoint a new Trustee so that the Life Trustees are kept up to, but do not exceed, three in number

All Trustees give their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses are disclosed in note 5 to the accounts.

The Trust has no direct staff and staff time is donated to the Trust by the University of Aberdeen.

Reserves Policy

Restricted funds comprise those funds donated to the Trust by Miss Anne H Cruickshank and are held for specific purpose in accordance with the terms of her will and the stated objectives of the Trust. Grant awards are made upon application and are subject to approval by the Trustees and dependant on the resources available to ensure that the Trust can meet its commitments. The Trust has no specific target level of reserves, and they are held until awarded.

The Trust must also consider the unrestricted reserves of the charity. The Trustees are of the opinion that the level of unrestricted funding is sufficient for operational expenditure.

Approved by the Trustees on 29th April 2026 and signed on their behalf by:

Roderick Begbie (May 11, 2026 08:28:48 GMT+1)

Roderick John Begbie Lay Trustee

4

Independent Examiner’s Report to the Trustees of the Miss Anne H Cruickshank Special Trust for the Year Ended 20 August 2025

Independent examiner’s report on the accounts

Independent examiner’s report on the accounts Independent examiner’s report on the accounts Independent examiner’s report on the accounts Independent examiner’s report on the accounts Independent examiner’s report on the accounts Independent examiner’s report on the accounts Independent examiner’s report on the accounts Independent examiner’s report on the accounts Independent examiner’s report on the accounts Independent examiner’s report on the accounts
Report to the
trustees/members of
Charity name
Miss Anne H Cruickshank Special Trust
Registered charity
numberSC004654
On the accounts of the
charity for the period
Period start date
Period end date
Day
Month
Year
Day
Month
Year
21
08
2024
to
20
08
2025
Set out on pages6 to 14
Respective
responsibilities of
trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance
with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the
Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the
audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply.
It is my responsibility to examine the accounts 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 Charities
Accounts (Scotland) Regulations 2006. An examination includes a review of the
accounting records kept by the charity and a comparison of the accounts presented with
those records. It also includes consideration of any unusual items or disclosures in the
accounts 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 accounts.
Independent examiner’s
statement
In the course of my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the
requirements:
•
to keep accounting records in accordance with section 44(1) (a) of the 2005
Act and Regulation 4 of the 2006 Accounts Regulations, and
•
to prepare accounts which accord with the accounting records and comply
with Regulation 9 of the 2006 Accounts Regulations have not been met, or
2.
to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Signed:
Date:
13thMarch 2026
Name:
Brian Willox
Relevant professional
qualification(s) or body
(if any):
ICAS
Address:
Finance Section
University of Aberdeen
University Office
Aberdeen, AB24 3FX		 Charity name
Miss Anne H Cruickshank Special Trust
SC004654
Period start date Period end date
Day Month Year Day Month Year
21 08 2024 to 20 08 2025
6 to 14
The charity’s trustees are responsible for the preparation of the accounts in accordance
with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the
Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the
audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply.
It is my responsibility to examine the accounts as required under section 44(1) (c) of the
Act and to state whether particular matters have come to my attention.
My examination is carried out in accordance with Regulation 11 of the Charities
Accounts (Scotland) Regulations 2006. An examination includes a review of the
accounting records kept by the charity and a comparison of the accounts presented with
those records. It also includes consideration of any unusual items or disclosures in the
accounts 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 accounts.
In the course of my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the
requirements:
•
to keep accounting records in accordance with section 44(1) (a) of the 2005
Act and Regulation 4 of the 2006 Accounts Regulations, and
•
to prepare accounts which accord with the accounting records and comply
with Regulation 9 of the 2006 Accounts Regulations have not been met, or
2.
to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Date: 13thMarch 2026
Brian Willox
ICAS
Finance Section
University of Aberdeen
University Office
Aberdeen, AB24 3FX

5

Miss Anne H Cruickshank Special Trust Statement of Financial Activities for Year Ended 20 August 2025

Note
Income from:
Donations and Legacies
Investments
2
Total Income
Charitable Activities:
Grants Awarded
3
Operating Expenditure:
Investment Management Fees
4
Other Expenditure
Total Expenditure
Net (Expenditure)/Income before
Gains & Losses on Investments
Net Gains/(Losses) on Investments
6
Transfers
10
Net Income/Movement in Funds
Total Funds at 21 August 2024
Total Funds at 20 August 2025		 Unrestricted
Funds

£
-
26,892
26,892
79,600
79,600
6,061
2
6,063
85,663
(58,771)
-
6,087
(52,684)
108,744
56,060		 Restricted
Funds
£



-
-
-




-
-



-
-
-

-

-

22,162

(6,087)

16,075

892,262

**908,337 **		 Total
Funds
2025
£
-
26,892
26,892

79,600
79,600

6,061

2
6,063
85,663
(58,771)
22,162
-
(36,609)

1,001,006
**964,397 **		 Total
Funds
2024
£
-
30,224
30,224
9,600
9,600

5,903
-
5,903
15,503
14,721
91,620
-
106,341
894,665
1,001,006

6

Miss Anne H Cruickshank Special Trust Balance Sheet as at 20 August 2025

Note
Fixed Assets
Investments
7
Current Assets
Debtors
8
Cash held for investments
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within one year
9
Net Current Assets
Total Assets less Current Liabilities
Net Assets
Represented by:
Funds of the Charity
Unrestricted Funds:
General
Designated
Total Unrestricted Funds
Restricted Funds
Total Charity Funds
11		 2025
£
892,063
892,063
2,564
16,274
54,319
73,157
(823)
72,334
964,397
964,397
36,299
19,761
56,060
908,337
964,397		 2024
£
885,581
885,581
3,730
6,681
105,863
116,274
(849)
115,425
1,001,006
1,001,006
45,118
63,626
108,744
892,262
1,001,006

The financial statements of the Miss Anne H Cruickshank Special Trust (Registered Charity SC004654) on pages 6 to 14 were approved by the Board of Trustees and signed on its behalf on 29th April 2026 by:

Roderick Begbie (May 11, 2026 08:28:48 GMT+1)

Roderick John Begbie Lay Trustee

7

Miss Anne H Cruickshank Special Trust Cash Flow Statement for the Year Ended 20 August 2025

Note
Cash Flows from Operating Activities:
Net Cash provided by operating activities
12
Cash flows from Investing Activities:
Bank interest
2
Dividends received
2
Proceeds from the sale of investments
7
Purchase of investments
7
Net cash provided by Investing Activities
Cash flows from Financing Activities:
Change in cash and cash equivalents
14
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at the end of the year		 2025
£000
(84,523)
2,192
24,700
373,706
(358,026)
42,572
-
(41,951)
112,544
70,593		 2024
£000
(15,203)
2,596
27,628
372,185
(373,309)
29,100
-
13,897
98,647
112,544

8

Miss Anne H Cruickshank Special Trust Notes to the Financial Statements for the Year Ended 20 August 2025

Note 1

Principal Accounting Policies

[The financial statements for the year ended 20 August 2024 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.

The Trustees have 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

The financial statements have been prepared on the going concern basis.

As at 20 August 2025, the Trust held net asset balances of £964k, including investments of £883k and cash balances of £79k. As a result, the Trustees’ main concern is to ensure that only funds held can be awarded, and that the awards process detailed on page 4 is upheld to ensure that sufficient control is in place.

Consequently, the Trustees are confident that the trust will have sufficient funds to meet their liabilities as they fall due for at least 12 months from the date of approval of the financial statements.

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

Investments

Investments are stated at market value at the balance sheet date and are stated at bid prices where available. The Trust’s investments are managed on the basis of achieving the best overall return from the portfolio without regard for the proportion of return that derives from income or capital. The funds are managed with ethical restrictions preventing investment in companies where more than 10% of turnover is derived from military or tobacco, and where any proportion of a company’s turnover is derived from pornography.

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.

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.

9

Miss Anne H Cruickshank Special Trust Notes to the Financial Statements for the Year Ended 20 August 2025

Note 1

Principal Accounting Policies - Continued

Investments

Dividends and interest are credited in the year in which they are receivable.

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 Awarded

Payments of grants are recognised when an approved offer is communicated and are charged directly to the appropriate designated fund.

[Support Costs ]

Management & administration costs are charged to unrestricted funds, these include the cost of administration, and any other costs associated with the general operation of the Trust.

Realised and Unrealised gains and losses

Realised and unrealised gains and losses are allocated to Restricted Funds, which represents the investment Capital.

Trade and Other Debtors and Creditors

There are currently no Trade Debtors in the Trust. Other debtors includes accrued investment income and dividends payable, accounted for on the basis of reports issued by the investment managers at the period end date.

Creditors are recognised based on amounts due to external parties at the year-end date. These include investment management fees for the period charged after the period end.

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 and cash held for investments, less overdrafts payable on demand.

Funds Policy

Funds are analysed between restricted and unrestricted funds. There are no endowment funds within the Trust. Unrestricted funds represent the Revenue on investments and are used for administrative activities and grants awarded. Restricted funds represent Capital invested. Awards are only made where sufficient funds exist or where income is guaranteed in the future.

Note 2 Investment Income

Dividends & interest on investments
Interest on cash deposits		 Unrestricted
Funds
£
24,700
2,192
26,892		 Restricted
Funds

£

-
-
-		 Total
2025
£

24,700

2,192

26,892		 Total
2024
£
27,628
2,596
30,224

10

Miss Anne H Cruickshank Special Trust Notes to the Financial Statements for the Year Ended 20 August 2025

Note 3 Charitable Activities

Grants Awarded
Note 4
Operating Expenditure
Investment management fees
Other expenditure – Bank charges
Total operating expenditure		 Unrestricted
Funds
£
79,600
Unrestricted
Funds
£
6,061
2
6,063		 Restricted
Funds

£


-
Restricted
Funds

£

-

-

-		 Total
2025
£

79,600
Total
2025
£
6,061
2
6,063		 Total
2024

£

9,600
Total
2024

£

5,903

-

5,903

Note 5

Staff Costs & Key Management Personnel

The Trust has no direct employees. The Trust receives in-kind support from the University of Aberdeen with respect to staff time to assist with the administration of its affairs. In 2025, the value of this donated time was estimated to be £6,494 (2024: £6,238).

Trustees were not paid and did not receive any other benefits from employment with the Trust. There were no Trustee expenses in 2025 (2024: nil).

Note 6 Net Gains/(Losses) on Investments

Realised Gains on Disposal of Investments
Unrealised Gains on Revaluation of Investments
Note 7
Fixed Asset Investments
2025
Cost Market Value
£
£
Equity
555,576
636,118
Bonds
142,426
149,896
Absolute Return
19,494
20,606
Global Property
15,238
15,187
Other Alternatives
48,563
39,052
Gold
19,789
22,404
Cash Product
8,800
8,800
809,886
892,063		 2025
2024
£
£
517
15,532
21,645
76,088
22,162
91,620
2024
Cost
Market Value
£
£
514,676
639,146
155,994
155,673
19,494
19,880
27,263
26,098
48,563
44,784
-
-
-
-
765,990
885,581		 2025
2024
£
£
517
15,532
21,645
76,088
22,162
91,620
2024
Cost
Market Value
£
£
514,676
639,146
155,994
155,673
19,494
19,880
27,263
26,098
48,563
44,784
-
-
-
-
765,990
885,581		 2024
£
15,532
76,088
91,620

885,581

All investments are held at fair value.

11

Miss Anne H Cruickshank Special Trust Notes to the Financial Statements for the Year Ended 20 August 2025

Note 7
Fixed Asset Investments - Continued
2025 2024
£ £
Market Value as at 21 August 885,581 792,837
Additions 358,026 373,294
Disposals (373,706) (372,170)
Net Gains/(Losses) on Investment 22,162 91,620
Market Value at 20 August 892,063 885,581
Material Investments Market
 Percentage
Cost Value of Portfolio
£ £ %
Vanguard Funds Plc S&P 500 UCITS ETF 67,957 106,346
12.0

Other than those disclosed above, no other investments amounted to 4% or more of market value.

The Trust’s policy states that funds are not invested in any company where more than 10% of turnover is derived from military or tobacco, or where any proportion of turnover is derived from pornography.

Note 8
Debtors: Amounts falling due within one year
Accrued income
Note 9
Creditors: Amounts falling due within one year
Accrued expenditure		 2025
£
2,564
2025
£
823		 2024
£
3,730
2024
£
849
Note 10
Movement in Reserves
Restricted Funds
Unrestricted Funds
Restricted Funds
Unrestricted Funds		 Funds at
21 August
2024
Incoming
Outgoing
Transfers
Funds at
20 August
2025
£
£
£
£
£
892,262
22,162
-
(6,087)
908,337
108,744
26,892
(85,663)
6,087
56,060
1,001,006
49,054
(85,663)
-
964,397
Funds at
21 August
2023
Incoming
Outgoing
Transfers
Funds at
20 August
2024
£
£
£
£
£
806,157
91,620
-
(5,515)
892,262
88,508
30,224
(15,503)
5,515
108,744
894,665
121,844
(15,503)
-
1,001,006

12

Miss Anne H Cruickshank Special Trust Notes to the Financial Statements for the Year Ended 20 August 2025

Note 10 Movement in Reserves - Continued

Restricted funds represent the invested capital.

Unrestricted funds comprise the General Fund, which is used to support administration costs, and the Designated Funds listed in Note 16 – Movement in Funds, which are used for awarding grants.

Transfers reflect the movement of investment management fees from Restricted to Unrestricted funds.

Note 11 Analysis of Net Assets between Funds

Restricted Funds
Unrestricted Funds		 Fixed Asset
Investments
£
892,063
-
892,063		 Net Current
Assets
£

16,274

56,060

72,334		 Funds at
20 August
2025
£

908,337

56,060

964,397		 Funds at
20 August
2024

£

892,262

108,744

1,001,006

Individual funds are listed in Note 16 – Movement in Funds .

Note 12

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 13
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 14
Analysis of Change in Cash during the Year
2025
£
Cash at Bank and held for Investments
70,593		 2025
£
(58,771)
(26,892)
1,166
(26)
(84,523)
2025
£000
(41,951)
112,544
70,593
2024
£
112,544		 2024
£
14,721
(30,224)
252
48
(15,203)
2024
£000
13,898
98,646
112,544
Movement
£
(41,951)

13

Miss Anne H Cruickshank Special Trust Notes to the Financial Statements for the Year Ended 20 August 2025

Note 15

Related Parties

The following related party transactions have been identified for disclosure for the Miss Anne H Cruickshank Trust.

2025
Organisation Relationship
Nature		 Receipts Payments
£ £
The University of Aberdeen Charity
Grants		 - 79,600
2024
Organisation Relationship
Nature		 Receipts Payments
£ £
The University of Aberdeen Charity
Grants		 - 9,600
Note 16
Movement in Funds
Funds at Funds at
21 August 20 August
2024 Incoming Outgoing Transfers 2025
£ £ £ £ £
Total General Funds 45,118 11,157 (26,063) 6,087 36,299
Designated Funds:
Science Library Fund 2,894 716 (400) - 3,210
Astronomy Fund 55,648 13,761 (59,000) - 10,409
Law Prize Fund 5,086 1,258 (200) - 6,144
Total Designated Funds 63,626 15,735 (59,600) - 19,761
Total Unrestricted Funds 108,744 26,892 (85,663) 6,087 56,060
Total Restricted Funds 892,262 22,162 - (6,087) 908,337
Total Funds 1,001,006 49,054 (85,663) - 964,397
Note 17
Subsequent Events

There are no subsequent events to report.

14

ST1 Special Trust Annual Report 2024-25

(Final)

Final Audit Report

2026-05-11

Created: 2026-05-08 By: Ellie Dickens (ellie.dickens@abdn.ac.uk) Status: Signed Transaction ID: CBJCHBCAABAAx33lAto4M4iGNP24Xiu3UklINga1B94b

"ST1 Special Trust Annual Report 2024-25 (Final)" History

Document created by Ellie Dickens (ellie.dickens@abdn.ac.uk)

2026-05-08 - 3:41:29 PM GMT- IP address: 139.133.0.1

Document emailed to rod@begbie.org for signature

2026-05-08 - 3:43:33 PM GMT

Email viewed by rod@begbie.org

2026-05-09 - 1:18:26 PM GMT- IP address: 140.248.40.25

Signer rod@begbie.org entered name at signing as Roderick Begbie

2026-05-11 - 7:28:46 AM GMT- IP address: 5.80.71.234

Document e-signed by Roderick Begbie (rod@begbie.org)

Signature Date: 2026-05-11 - 7:28:48 AM GMT - Time Source: server- IP address: 5.80.71.234 - Signature Appearance Selected: MOBILE_DRAW

Agreement completed.

2026-05-11 - 7:28:48 AM GMT