jamesmilne
CHAA TEAED ACCOUNTANTS
Braemar Mountsin Rescue Association
Flnanclal Statements
for the year ended
31st August 2024

Braemar Mountain Rescue Association
Tru$te¢$ Report on tho Financial Statements
forthe yearended 31st August 2024
The Trustees submit their annual report and financial statements for the year ended 31 st August 2024.
Objectives and activltles
The Association was set up lo provide a rTh)untain rescue setvice in Deeside, Scouand, or any place within the
proximity of Braemar, by encouraging, co-ordinating and supporting the members. In addition, further aims are to
acquire suitable equipment for rescue activities and lo raise funds for these purposes.
Achievements and PerfO￿ance
The Association has continued to meet the demand for both mountain rescue and team training with details ol a15
rescues surnmarised Out-wi￿ the financial slalements. Throughout the year the Association's equipment
(￿ntinUed to be maintained and updated in accordance with best practice and manufacturers recommendations.
Team members continue to train in various aspects of mountaineering which have a direct connection with
mountain rescue.. this includes both internal and external training which not only develops those individual
members but also allows cascading of skills and techniques to the wider team.
The quantity of call outs and the type of call outs are around foty per annum.
Financial revlew
The Association made a surplu5 of £56.515 before gains on ils investments of £91,419 resulting in an increase to
the reserves. The Association continues to keep the level of expenses incurred in obtaining voluntary income via
donations, legacies, and fvndraising activities to a minimum, with onty £2.138 being spent to obtain £135,366 of
income.
The investment policy is set by the trustees with input from professional advisers. The current policy is to invest in
low lo medium risk securities providing a consistent and growing income, with reasonable prospects for ¢api181
appreciation, when viewed over a number of years. The dividend income of £13,349 represents 8 relum of 1.24 %
on the closing market value of investments whrh Continue lo be held mosUy in unil trusts lo reduce the investment
risk whilst maintaining a decent return. In addition to the listed investments which now have a market value of
£1.080,050, £165,269 above their original c0515, there are still substantial funds held in various bank
accountsldeposils.
By prudently running the Association in relation Its costs and trying to maximise income with the ability lo collect
public donations on-line, the Association continues lo be able to spend the vast majority of ils oulgoings on the
charitable activities.
The engagement of an independent rinancial advisor to review the investment portfolio provides comfort that the
investments held by the Association are surtable for its needs, taking into account an appropri8le risk and reward
profile. Part of this pro¢ess involved trading in some of the investments and investing via an on-line portfolio
platfomi. managed by investment experts.

Braemar Mountsln Rescue Association
Tru$tee$ Report on the Flnanclal Statements
forthe year ended 31st August 2024
ReseNes pollcy
11 is the policy ofthe Association lo retsin adequate general fvnds to safeguard the continuance oflhe Association's
activities. Al 31st August 2024. unrestricted funds lotslled £1.640.72112023- £1.493,5251.
The increase in unrestricted funds over the year is due to the fall in expenditure on equipment since 2022. The
trustees continually monitor these funds so that they can be most benef￿1811Y expended or invested in furtherance
of the objectives of the As50cialion.
The Association holds restricted Presentation funds with the purpose of recognising the setvices provided by
members. All monies paid into this fund are received from ongoing members separate from any charitable income
received. At 31st August 2024. the presentation fund lotalled £83712023 - £991.
Plans for future periods
The Association aims lo continue lo meet the original ch8ritable objedives by continually assessing the need for
training, new equipmenL members, elc., whilst keeping a watchful eye on the finances. The Association is now in
a strong position with regard lo its buildings and ha5 planning pemiission to extend the Braemar base to enhance
the existing facilities there. The building work began in September 2024 with an eslimaled completion date ofearfy
2025.
The Association continues to review its presence on social rnedia, updating its website lo ensure that we are
managing our publi¢ profile efficienUy.
Structure, governanGe, and rnanagBrnent
Governing document
The Association is governed by constitution. whilst the affairs and propety of the Association are managed by the
Iruslees. which has the power lo delegate any part of ils duties lo individuals or sub-groups as appointed from
"me lo lime and, due lo continuing increases in the administration and operations of the Association, the use of
sub-groups. with an appointed Convener, is becoming more prevalent to make best use of individual members,
Intereslslskills and to spread the burden.
Trustee51members' Snductlon and tralnlng
The Iruslees are drawn from the membership, wf(h appointments being approved al the Association AGM, whilst
members lend lo come via applications, which are reviewed by the trustees before those believed suitable are
interviewed and, if successful, are invited to join on a probationary ba$is. All members are subject to ongoing
appropriate training for rescue activities through slruclured training and practical experience. All of the trustees
are aware of the regulations put in place re the formalion of OSCR to oversee the Scotbsh charities sector and the
changes brought in by the 21x15 Charities and Trustee Investment {Scollandl Act.
Related partles
The Association continues lo have strong operational links with the Polits Scotland (Grampian) Mountain Res¢ue
Team.

Braemar Mountain Rescue Assoclatlon
Trustee$ Report on the Flnanclal Statements
forthe year ended 31$tAugu8t 2024
Risk as¥essment
This is obviously a major part of the rescue and training sKle of the charitable activities and regular inspections of
equipment and vehicles is undertaken and assessments catTied out in conjunction with the Police Scotland
IGrampianl Mountain Rescue Team. Therefore, there are procedures In place as far as health and safety risks
are concemed and these are ¢ontInu81￿ updated as and when required.
As far a5 the adminislralion of the Association 1$ ¢xJncemed, the main risk is a lack of funds to enable the
Association to meet ts activities and objecb'ves. In this regard, the A3sociation holds a high level of unreslricled
reserves which weuld easily see il through a period of years should there LE a drop in the level of donations or
should the annual grant received from the Scottish Government cease. Funcs currently held are also required lo
finance the replacement of the off-road vehicles, which are costly to replze, whilst there is also the ongoing
maintenan￿/upgra￿lng of the properties at Braemar and Ballater. Due to the uncertainties regarding the Scoltssh
weather and the relationship this has with the rescue activities. il is fe￿ justrfied lo hold high reserves lo meet
potential increased Gosts for fuel, communications, and equipment ￿placeM￿nI.
Trustees and Professional Advisors
Patron:
HM King Charles111
Tru$tegS:
Principal office:
23 Albert Road
Ballaler
AB35 SQL
Bank•rs:
Bank of Scotland
9 Bridge Street
Ballater
AB35 5QP
Soll¢ltor5:
Slronachs
28 Albyn Plaee
AbeTdeen
AB10 1YL
AcGountants:
James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB116XZ
Charttles rgfergnco:
SC008652

Braemar Mountaln Rescue Association
Trustees Report on the Flnanclal Statements
for the year endod 31st August 2024
Responsibilitie8 of the tru8t¢¢¢ In Rlatlon to the financial statements
The Iruslees are responsible for preparing a Iruslees, annual report and financial statements in accordance with
applrAble law United Kingdom Accounting Standards IUK GMP),
The law applicable lo charilles In Scotland requires the charfty trustees lo prepare financial statements for each
year which give a true and fair view of the Stale of affairs of the charity and ol the incoining reSoU￿S and
appl￿allOn of resources. of the charity for that period. In preparing the financial statements, the trustees are
required to..
la} select Suitable accounting policies and apply them consistently.,
Ib) obseNe the melh(xJs and principles in the applicable Chanlies SORP..
Ic) make judgments and eslimales that are reasonable and prudent.,
Id) slal& whether applicable accounting standards have boen followed, subject lo any material departures
disclosed and explained in the financial statements.,
le) prepare the financial slalemenls on the going concern basis unless il ts inappropriate to presume that the
Association will continue in operation.
The Iruslees are responsible for keeping proper accounting records, which L1isclose wrth reasonable accuracy al
any lime. the financk?I position of tre charty lo enable them to ensure that the financial ststements comply with
the Charities and Trustee Investment IScotLandl Act 2005 and the Charity Accounts {Scollandl ReguLalions 20CE
las amended}. They are also ￿SPOnSIble for safeguarding the assets of the Association and hence for ta￿n5
Teasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the rnainlenance and integrity of the ¢harity and financial infomiation included on
the charity's websile. Legislation in the United Kingdom goveming the prep8ralion and dissemination of financial
statements may differ from legislation in other jurisdictions.
On behalf of the TrLislegS
L*

Bragmar Mountain Rescue Association
Scottlsh Charity Number SC008652
Report by the Independont Examlner
I report on the accounts of the charty for the year ended 31st August 2024 which are set out on pages 6 to 13.
Re8pectlve re8pon8lbllltltr8 of trustees and examlner
The trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities
and Trustee Investment (Scotlandl Act 2005 and Ihe Charities Accounts (Scollandl Regulations 2006 (as
amendedl. The trustees consider that the audit requirement of Regulation 10111 lal to IG} of the AcGounls
Regulations does not apply. 11 is my responsibility to examine the accounts as required under Section 4411) Icl
of the Act and lo ststo whether particular mallers have come to my attention.
Ba51$ of indepgnd•nt examlner's statemènt
My examination is carried out in accordance with RegulatK)n 11 of the Charities kcounts (Scotlandl
Regulations 2006 las amended). An examination includes a review of the accounting records kept by the charity
and a comparison of the a¢counts presented with those records. It also includes consideration of any unusual
items or disclosures in the accounts and seeks explanations from the trustees conceming any such matters.
The procedures undertaken do not provide all the evK1ence that would be required in an audit and consequently
I do not express an audit opinion on the view given by the accounts,
Independent examlnetrs stalement
In the course of my examinat￿n. no matters have come lo ry attention
which give me reasonable cause to believe that in any material respect the requirements..
to keep aceounting record5 in accordance with Section 44{1 Ila) of the 2005 Act and Regulation 4 of the
2006 Accounts Regulations la5 arnendedl, and
to prepare a¢¢ounts which accord with the accounting records and comply with Regulation 8 of the
2006 Accounts Regulations las amended)
have not been met, or
2. to which, in my opinion, attention should be drawn in order lo enable a proper understanding ofthe accounts
Partner
James hlilne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB116XZ
Its i.IC

Braemar Mountsin Rescue Association
statement of Flnanclal Activities
for the year ended 318t August 2024
2024
Restricted Total
Fund$
Funds
2023
Total
Funds
Unrestrlcted
Funds
Income and endowments from:
Donations and legacies
Investments
Charitable activities
134,012
21,307
1,354
135,366
21,307
68,387
26,137
Total income
Expenditure on:
Raising funds
Charitable activities
155,319
1,354
156,673
94,524
2,138
97,404
2,138
98,020
5.076
62,688
616
Total expgnditure
99,542
616
100,158
67,764
Net Ineomel{expenditurel and net
movement Sn funds before gaSnsl
Ilosse$l on investments
55,777
738
56,515
26,760
Net {l¢)ss}Igain on Investment as39ts
10
91,419
91,419
(7451
Not movement In fund$ for year
147,196
738
147,934
26,015
Total funds brought forward
1,493,525
99 1,493,624
1.467,609
Total funds carried forward
14
1.640,721
837 1,641,558
1,493,624
The notes on pages 8 10 13 form an integral part of these financial statements.

Braemar Mountaln Rescue Asso¢lation
Balance Sheet
at 31st August 2024
Noto
2024
2023
Fixed assets
Tangible assets
Investments
251,248
1,080,050
254,788
972.688
10
1,331,298
1,227.476
Current assets
Stock
Debtors
Cash al bank and in hand
100
32,085
291,924
100
11,803
271,110
12
324,109
283,013
Creditors: amounts falling due wlthln
ong y9ar
13
113,8491
{16.8651
Net current assets
310,260
286.148
Nfrt assets
1.641.558
1,493.624
Funds
General unrestricted
Presentation - restricted
14
1.640,721
837
1.493,525
99
1.641,558
1.493,624
Approved b the Committee on
The notes on pages 8 10 13 fom an integral part of these financial statements.

Braemar Mountain Rescue Association
Notgs to the Financlal Statements
ft>r tho year gnded 31st August 2024
Accountlng poll¢le$
1.1 Accounting conventlon
The financial slalements are prepared under the historical cost convention as modified by and the
restatement of investments al market value. The financial statements have been prepared in accorclance
with the Slalemenl of Recommended Practice Accounting and Reporting by Charities preparing their
accounts in accordance with the Financia1 Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 issued on 16th July 2014 - (Charities SORP IFRS 10211, the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021, The Charities and Trustee
Investment Iscotkndl Act 2005 and the Charits'es Accounts (Scollandl Regulations 2006 las amendeél.
The trust constitutes a public benefit entity as defined by FRS 102.
1.2 Use offunds
The members use the funds at their disposal to provide and operate the mountain rescue Servi￿ and
there are no reslriclions on the general funds apart from the general objects oflhe Association. A separate
presentation fund is maintained to use towards giftslleaving events for members and the money in this
fund comes from the members.
1.3 Fixgd assets and depreclatlon
Fixed assets are slated al cost less depreciation on the bases sel out hereunder.
Depreciation is provlded on all tsngible fixed assets. The rates used to write off the cost of each asset
evenly over its expected useful life are as follows..
Buildings
Plant and machinery
Motor vehicles
Computer equipment
over period of 99 years
over 5 years
250/0 reducing balance
over S years
Due to the hazardous natu￿ of rescues and use of rescue equipmenL all expenditure on such items
expensed in the year of purchase.
1.4 Grants
lil Capital expendSture grants
Grants are sel against capital expenditure in the year incurred. Grants are released to fvnds by equal
annual inslalments over the expected useful lives of the relevant assets.
lill Revenue grants
Revenue grants are included in the income and expenditure account on an accruals basis.
1.5 Investments
Investments are included at market value. Realised gains and losses arising on disposals of investments
during the year are included in the statement of financial acb'vities. Unrealised gains and losses arising on
revaluation of the investments al the end of the year are adjusted on closing funds by inclusion in the
summary statement of financial activities.
Income from investments is included in the accolsnls when receivable.

Braemar Mountsin Rescue Association
Notes to the Financial Statements Icontinuedl
for the year •nded 31st August 2024
1.6 Legacies and donations
Legacies and donations are included in the financial slalements when Teceivable and on an accruals
basis to the extent that the monetary value can be reasonably quantified.
1.7 Taxation
The Association is a registered charity and is therefore exempt from tsxalion.
1.8 Stock
Stock of books, promotK)nal materials and stationery is stated al cost.
1.9 Support costs
Support costs include the costs associated with eonstf(utional and Statutory requirements and are
recognised on an accruals basis.
1.10 Debtors
Debtors are recognised al the settlement amount due, Prepaymen15 are valued at the amount prepaid.
1.11 Cash at bank
Cash al bank includes balances wrthin accessible bank accounts with no maturity date.
1.12 Crgdltors
Credf(or5 are recognised where the association has a present obligation resulting from a past event that
will probably result in the transfer of funds lo a third paty and the amount due to settle the obligation can
be measured or eslimaled reliably.
1.13 Flnanclal instruments
The association has financial assets and financial liabilities of 8 kind that qualify as basic financlal
instruments. Bas￿ financial instruments are inits'ally recognised at transaction value and subsequent
measured at their settlement value.
2. Voluntsry income
2024
2023
Scoth'sh Mountain Rescue
Oonalions and collection boxes
Legacies
Tax recovered
Contributions to presentation fund
29,076
52,643
52,293
21.102
42,127
3,989
1,141
28
1,354
135,366
68,387
3. Investment income
2024
2023
Dividends
Bank interest
13,349
7.958
21.625
4,512
21.307
26,137

Braemar Mountsin Rescue Association
Notes to the Flnanclal Statements (continued)
for the year ended 31st August 2024
4. Incoming resources from charitable actlvitio$
2024
2023
Book sales
Other fundraising
5. Costs of generatlng Yoluntsry incomg
2024
2023
mis￿[13neQuS expenses
2,138
5,076
6. Charitable activities
2024
2023
Council tax
Heat and light
Cleaning and maintenan¢e ¢osts
Insurance
Training
Property and equipment repairs
Printing, postage, and slalionery
Presentation Fund costs
Bank costs
Highland Cross entry fee5
Sarcall subscription
Membership costs
Waste disposal
Domestic equipment
Travel costs
Telephone
Sponsorship
Rescue equipment and medi¢al supplies
Transport costs
Depreciation of property, garage equipment, vehicles, and computers
3.277
1,764
9,222
8,079
12,296
3,034
1.575
1.214
1,810
5,697
7,721
3,990
70
406
158
616
161
360
500
439
446
485
627
400
1,337
3.333
12,964
3,980
7.086
400
1,806
3,333
29,741
6,945
7,180
89,153
53.299
7. Support costs
2024
2023
Investment management fees
Professional fees
Accountancy fees
7,442
8,461
1587)
1,515
1,425
8,867
9,389
10

Braemar Mounlaln Rescue Assoclatlon
Notes to the Financial Statements {continuedl
for the year ended 31st August 2024
8. Related party tran$action$ and Member's exponsgs and remuneration
No committee member received any remuneration for their dulles carried out in the year12023- Nill.
Expenses paid lo the members In the year tolalled £3,32812023 - £8,723) which were made up of seven
memberfs reimbursed expenses lor Association costs.
9. Tangible fixed assets
Motor
vehicles
Garage
Computer
equipment equlpment Total
Property
Cost
Al 1 sl September 2023
Additions
288,4S7
27,197
15,458
3,640
11,709
342,821
3,640
Al 3151 August 2024
288,457
27.197
19,098
11,709
346,461
Depreciation
At 1 st September 2023
Charge for year
45,896
2,914
21,283
1,479
12,2a7
1,749
8,647
1,038
88,033
7,180
At 31 st August 2024
48,810
22,762
13,956
9,685
95,213
Net book value
Al 3151 August 2024
239.647
4,435
5.142
2.024
251.248
Al 31st August 2023
242,561
5,914
3,251
3,062
254,788
Following lengthy diScuss￿)nS regarding ownership of the Mountain Rescue Centre al Braemar, a legal
agreement betsveen the Assockation and Police Scotland (Grampian Police ceased to exist when Police
Scotland was formed on 1st April 20131 was signed in April 2013, which identified that each organisalion now
owns 500kn of the building, and also a¢cepts responsibility for 50% of the building's Maintenan￿ and running
costs.
The Assoeialion has a policy of fully expensing rescue equipment in the year of acquisition. This pollcy is
appropriate for the equipment due to the nature of its use.
11

Braemar Mountain Rescue Assoclatlon
Notes to the Flnan¢lal Statements {¢ontInu￿)
forthe year ended 31st August 2024
10. Investments
2024
2023
Llsted Investments
Market value at 1st September 2023
Additions
Disposals
Net unrealised Ilossllgain
972,688
1.398,000
11,382,057)
91,419
968,696
130,983
1126.2461
17451
Market value at 31st August 2024
1,080,050
972.688
Historical cost at 31st August 2024
914,781
891,671
Market value at 31st August 2024 comprises
Equities
Charisharelcharifvnd units
1,080.050
972,688
1,080.050
972,688
Whereol:
Investment assets in the UK
1,080,050
972,688
11. Debtors
2024
2023
Other debtors
Prepayments
626
31,459
532
11,271
32,085
11,803
12

Braemar Mountain Roscue Association
NotOS to tho Financial Statements {contSnugdl
for the year ended 31st August 2024
12. Cash at bank and In hand
2024
2023
National Savings Income Bonds
Bank of Scotland Current Account
Bank of Scotland Presentation Fund Account
Bank of Scotland Business Instant Online Account
Stockbrokers funds held
175,000
66,514
837
30,000
19,573
175.000
37.464
99
30,000
28,547
291,924
271,110
13. Creditors: amounts falllng due vAthln one yoar
2024
2023
Other creditors
13,849
16,865
14. Funds
2024
General Prgsentation
Fund
Fund
2023
General Presentation
Fund
Fund
Total
Total
Al 1 sl SeplembeT 2023
1,493,624 1,493,525
Nel surpluslldeficitl for year
58,515
55,777
Other recognised Ilossesllgains 91,419
91,419
99
738
1,467,609 1,467,132
26,760
27.138
17451
17451
477
1378}
At 3151 August 2024
1,641,5S8 1,640,721
837
1,493.624 1,493.525
99
lal The General Fund is unrestricted and is available to be spent for any purpose of the charity.
Ibl The Presentation Fund is a restricted fund and is Used towards giftslleaving events for members and
the money in this fvnd comes from the members.
15. Allocallon of net assets amongst funds
General
Fund
Presentatlon
Fund
Totsl
Tangible assets
Investments
Stock
Debtors
Cash at bank
Creditors
251,248
1.080,050
100
32,085
291,087
113,8491
251,248
1,080,050
100
32,085
291,924
113,8491
837
Net assets at 31st August 2024
1,640,721
837
1.641,558
13

Braemar Mountsin Rescue Association
The following page does not forni part
of the flnanclal $tstoments
14

Braemar Mountain Rescue Association
Schedule 1
Investments
Markgt
Value at
31108124
Market
Value at
31108123
Cost at
31108124
Cost at
31108123
Income
Braemar Community Hydro
Ordinary £1 shares
653
653
707
707
Central Investments portfollo
13,295
1,079,397
914,128
971,981
890,964
13,349
1,080,050
914,781
972,688
891,671
15