jamesmilne ¢HARTERED ACCOUNTA14TS Braemar Mountaln Rescue Assoclatlon Flnanclal Statements lor the year ended 31st August 2025 OSCR 8ÈKistered s¢io SC008652
Braemar Mounlaln Rescue Associatlon Trustegs RgPQrt on the Flnandal Stal8ments for the year ended 31st August 2025 The Twstees submit thelr annual report and financ1 statsments for the year ended 31st August 2025. Oblectfve$ and actlvltles The Association was sel up 10 provKle a mountain rescue serv& Deeside, ScotlarKI, or any place within the proximity ol Braemar, by encouraging, cTrordinaling and suEporting the members. In addln, further aims are to acy]ulie suitable equipment loi rescue activtb'es and lo raise funds lor these purposes. Achlevements and perfomiance The Association has continued lo meet the demand for both mountain rescue and team training wrth details of all rescues summarised out-wlh Ihe financial statements. ThrohoUt the year the Asstxiation's equipment continued to maintained and updated in accordance with t)est pltice and manufacturers re¢omm&ndalions. Team MeMbS continue to train in various aspects ol mountaineering whh have a dir6rl connection with mountain rescue- this includes both internal a1 external training which not onty develops those individual members bul also allows cascading ol SIL$ and techniques to the wider team. The quantity ol call outs and the type of call outs are around forty per annum. Flnanclal revlew The Association made a surplus of £21,520 before gains on its investments 01 £83.907 resutting in an increase lo the reseryos. The Association continues lo keep the level of expenses incurred in obtaining volunlary iome via donations. aci&s. and fundraising activities lo a minimum. with only £843 being spent lo obtain £113,770 01 income. The investment policy is Sel by the Iruslees with inpui Irom professional advisers. The cwr¢nl policy 18 to invest in low lo m8dium risk securities providiro a corlStent and growing income, with reasonable prosFcts lor capital appreciation, when viewed over a number ol years. The dividend incomg 01 £51 represents a return ol Ovts on the closing market value ol investments which continue lo bg held mostly in unit trusts lo reduce the investment rk8k whilst maintaining a decent return. In addition to the listed investments which now have a maikel value ol £1,133.9)3, £163,111 atN)ve Ihgir original costs, there are sb'll substantial funds held in various bank accountsldeposits. By prudently running Ihe Asswiation in relation lo costs and trying lo maximise income wilh the ability to collect public donations on-line. the Association continues to be able to spend th6 vast majority ol its oulgoings on the charitable activities. The engagement ol an independent financial &lviqor to review th8 Investment pcM1folio provides comfort that the investments held by the Association are suitable lor its needs, taking into account an approprkqle risk and reward profile. Part ol this process involved trading in some ol the investments and invesbng via an on-line porttolio platform, managed by investment experts.
Braemar Mountaln Rescue Assoclatlon Trustees Rèport on the Flnanclal Statements tor the year ended 31st August 2025 Reserves pollcy It is the pcAicy of the Association lo retain adequate general funds to safeguard the cOntinuanOIthe Association's activities. At 31 st August 2025, unreslri¢ted lund5 lolalled £1,746,14212024- £1,640.7211. The increase in unreslric18d funds over the year is due lo the fall in expenditure on equipment since 2022. The trustees continually monitor these luncls so that they can be most beneficially expended or invested in lurtheranoe ol the objectives of the Associats'on. The Association holds restricted wesentali)n funds wrth the purpose of recognising the setvices provid by members. All monies paid inlo this fund are received from ongoing memters separate from any charitable inrA)me received. At 31st August 2025, the presentation fund lolalled £84312024- £8371- Plans for luture perlods The Association aims lo continue lo meet the original charllable objectives by continually assessing the need lor trning, new equipmenl, members, elc., whilst keeping a wal¢hlul eye on the finances. The Association is now In 2 strong tK)S¢tion with regard to its buildings and following the completion ot works lo our Braemar base in 012025 has recently secured Detailed Planning Permission and Buikling Warrant lo buikl a garage lacilty in Aboyne. Structure. governance. 8nd management Governlng document The Association is governed by conslilution, whilst the affairs and property of the Association are managed by the trustee5, whh has the power 10 delegate any part ol its duties to indivvjuals or sub-grpS as appointed from time to lime. Trusleeslmembers. InductSon and tralnlng The Iruslees are drawn from the membership, with appointments being approved al the Associallon AGM, whilsl mombers lend lo come wa applications, which are reviewed by the trustees before those believed suitable are interviewed and. il successful. are invited to loin on a syobalionary basis. All mertiers are sufy'ect lo ongolng appropriate training lor rescue activities through structured training and prac1al experience. All ol the trustees are aware ol the regulations pul in place re the formation ol OSCR lo oversee the Scottish charili8S SOCtor ar the changes brought in by the 25 Charr(ies and Trustee Investment Iscollandl Acl. Related partles The Association continues lo have strong operaiional links with the Pollce Scotland IGrampsanl Mountain Rescue Team.
Braemar Mountaln Roscue Asgoclotlon Trustee8 Report on the Flnandal Statements for ihg ygar ended 31st August 2025 Rlsk ass88$ment This is obviously a m8J'or part ol the res¢ue and training side of the charitable activities and regular inspections ol equipment and vehicles is undertaken and assessments carr*d out in conjunction with the Police Scotland (Grampianl Mountain Rescue Team. Therefore, there are procedures in place as lar as heath and safety risks are concerned and these a continually Ulated as and when requid. As lar as the admlni8tratv)n of the Associati4 is concemed, the main risk is a lack of funds to enable the AsSocialn lo meet ts activities and objeclwes. In this regard, the Association holds a high level ol unreslricled reserves which would easily see il through a period of years should there be a drop in the Ve1 of donations or should the annual grant reWed from the Scottish Governmpnl ¢e2se. Funds currently held are also required lo finance the replacement ol the off-road vehles, which are costly to replace, whilst there is also the ongoing manlenance ol the propertie5 at 8raemar and Ballater and the lulure facility in Aboyne. Oue lo the Uertainl19S regarding Ihe Scottish weather and the reLAlionship this has with the rescue activities, il is fell justified to hokj high reserves to meet potenlld increased costs lor fuel, communicallons, and equlpment replacement. Trustsès and Professlonal Advlsgrs Patron: HM King Charles 111 Trustees: John Drysdale (Presldentl Steve Teale (Vice Presidenll Ben Addy (Treasurer) Bill Ddlas ISur4)ort Manager) Malcolm Maclntyre Ioperatlons Manager) Simon Murray Olly Lever Wilbur Stewart Caium Halhead Prlnclpal offlce: 23 Albert Road Ballaler AB35 SQL Bankers: Bank of ScolLqnd The Motjnd Edinburgh EH11YZ Sollcltors: Ledingham Chalmers 52-24 Rose Street Aberdeen ABIO IHA Accountantg: James Milne Chartered Accountants 5 Bon Accord Square Aberdeen A8116XZ Charltles reference: SC008652
8raemar Mountaln Rescug Asso¢latlon Trustees Report on the Flnanclal Statements for the year ended 31st August 2025 Responslbllltles of the tntstees In relatlon to the flnan¢lal Statements The trustees are responsible lor preparing a trustees, annual report and finar1 statements in aGcordance with aWicatrJe law and Untted Kingdom Accounting Standards (UK GAAPI. The law aFplicable lo charities in Scotland requires the charity trustees to prepare financial slalemenls lor each year whith gThie a true and lair wew ol the stats ol affairs of the charity and ol the incoming resources and application ol resources. ol the charity tor that period. In preparing the financial statements, the trustees are required lo.. lal select suitable aceounling policies and apply them consislendy; Ibl observe the methods and principles in the applicable Charities SORP., Icl make judgments and estimates that are reasonable and prudent- Idl stale whether applicable accounting slandds have been followed, subject trj any malèrk41 departures disclosed ancf explained in the financial ststements,. lel prepare the financial slalemenls on the going Canrn basis unless il Is Inappropfiate lo presume that Ihe Associatlon wll continue in operalion. The trustees are responsible lor kping proper accounting r¥oids, which dlsclose Mlh reasonable accuracy at any lime, the linancAI posilK)n ol charity lo enab them lo ensure that the financial statements comply with Ihe Charities and Trustee Investrnenl Iscollandl Act 2005 and the Charity kcounls Iscollandl Regulations 20( las amended). They are also reSpx)nSie for safeguarding the assets ol the Association and hence lor takirvJ reasonable steps lor the preVentn and detection ol Iraud and other IrregularitS. The Irustees are responsible lor the maintenance and integrity of the charity and linan¢ial inlomiatksn irrIled Ix) the charity's website. Legislation in the Un(ted Kingdom governing the preparation and disseninalion ol financial statements may differ Irom legislation in other juiisdictions. On behalf ol the TTuslees on 22nd April 2026 I, Jy," John Drysdale President
Braemar Mountsln Rescue Assoclatlon ottish Charlty Number SC008652 Report by ihe Independent Examlner I report on the accounts ol the eharity for the year ended 31 sl August 2025 which are set out on pages 610 13. Respedlve responslb1111198 Qt trustses and examlner The Iruslees are responsible lor the preparation ol Ihe accounts in accordance with the 18rms ol the Charities and Trustee Investment (Scollandl Act 2005 arKI the Charil*s Aceounls (Scollandl Regulations 2006 las amended). The Iruslees consider that the audit requirement ol Regulation 10111 lal lo Icl ol the Accounts RegulaiKins does not apply.11 is my re5ponsibilily lo examine the accounts a5 required under Section 44111 Icl ol the Act and lo stale whether Partular matters have come lo my attention. Ba¥ls of Independent examlner'3 stslgmgnl My examination is carried out in accordance with Flegulalion 11 01 the Charities Accounts (Scollandl Regulations 2006 las amended). An examination includes a review ol the accounting records kept by the charity and a comparison of the accounts presented with those records.11 also includes consideration ol any unusual items or disclosures in the accounts and seeks explanations from the trustees conceming any such matters. The prOdureS undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinKin on the view given by the accounts. Independent examlner's ststemenl In the course ol my examination, no matters have come to my attention which give me reasonable cause lo believe that in any material respect the requirements: to keep accounting records in accordance with Section 4411llal ol Ihe 21XJ5 Act and Regulation 4 01 the 2006 Accounts Regulations las amended), and lo prepare accounts which accord with the accounting records and comply wi(h RegulalDn 8 01 the 2006 Accounts Regulations las aMered) have not been mel, or 2. to which, in my opinion. attention should be drawn in order to enable a proper undeTslanding ol the accounts to be reached. Id S. Mlnett CA Partner James Milne Chartered Accountants 5 Bon Accord Square Aberdeen AB11 6XZ £.s.its
Braemar Mountaln Rescue Associatlon Stalement of Flnanclal Actlvltles for the year ended 31st August 2025 2025 Reytrlcted Total Funds Funds 2024 Tolal Funds Unrgsirtctgd Funds Note Income and endowments from: Donations and legacies Investments Charitable aclivf(i8s 113,770 4,201 113,770 4,201 135,366 21,307 Total Incom8 Expendltura on: Raising funds Charitable activities 117,971 117,971 156,673 843 95,273 2,138 98,020 335 95.608 Total expgnditure 96,116 335 96,451 100,158 Net Incomel(expendlturel and net rnovgmgnt in funds before galnsl (losses) on Investments 21,855 13351 21,520 56.515 Transfers between funds 13411 341 Net {lossllgaln on Investment 88gets 83.907 83,907 91.419 Net movement In lunds for year 105,421 105,427 147,934 Totsl funds brought forward 1,640,721 837 1,641,558 1,493,264 Total funds carrled fonvard 14 1.746,142 843 1,746,985 1,641,558 The mtes on pages 8 to 13 folm an integral part ol these financlal slalements.
Braemar Mountain Rescue Association Balanco Sheet al 31st August 2025 Note 2025 2024 Flxed assets Tangible assets Investments 536,549 1,133,903 251,248 1,080,050 10 1,670,452 1,331,298 Current assets Stock Debtors Cash at bank and in hand 1,000 19,498 132,040 100 32,085 291.924 12 152,538 324,109 Credltors: amounts falllng duo wllhin one year 13 176,0051 113.8491 Net current a$set8 76,533 310,260 Net assets 1,746,985 1.641,558 Funds General - unrestricted Pr8senlation- restricted 14 1,746,142 843 1,640,721 837 1,746,985 1,641,558 Approved by Ihe Committee on 22nd April 2026 qtt, Jy'° John Drysdale President Ben Addy Treasurer The rotes on pages 8 10 13 fomi an integral part of these financial statements.
Braemar Mountaln Rescue Associatlon Noles to the Flnanc5al Ststemenls for the yoar onded 31st August 2025 l. Accountlng pollclgs 1.1 Accountlng eonvenllon The financial *alements are prepared under the historical tt&St convention as moditied by and the restatement ol investments at mafkel value. The financial slalemenls have been prepa1 in accordanc8 with the Slalement ol RecommeThJed Praclke Accounting and Reporting by Charities weparing their aoUnts in ac(ordance with the Financial Rewrting Standard apICable in the UK and Republic of Ireland IFFIS 1021 issued on 161h July 2014 - {CharilS SORP IFRS 10211, the Financial Reporting Standard applicable in the Unrted Kingdom and Republic ol Ireland IFRS 1021, The Charities and Truste8 Investment Iscotland) Act 2005 and the Charities Accounts Iscollancll Regulations 2{ las amended). The trust o)nstilutss a public benefit entity as delin8d by FRS 102. 1.2 Use of lund$ The mwnbers use the funds at their disposal to provide and operate the mountain rescue setvice and there are no restrictions on the general funds apart from the general 08¢ts olthe Association. A separate presentation fund is maintained lo use towards giftslleavirvJ events lor mombers and the money in this fund comes from the members. 1.3 Flxod assets and deprorlatlon Fixed assets are slated al cost less deF¥eciatlon on the bases set out hereunder. Depreiiation is provided on all tangible fixed assets. Thp rates used lo Yrtile off the ¢o$t ol each asset evenly over its eXpted useful life are as follows= Buikjings Plant and machinery Motor vehicles Computer equpment over riOd 0199 years over 5 years 25.10 reducing baLqnce over 5 years Due to the hazardous nature ol rescues and use ol rescue equipment. all expenditure on such items is expensed in the year ol purchase. 1.4 Grants lil Capltal expendSturÈ grants Gfants are sel against capital expenditure In the year incufred. Grants are released 10 funds by &]uat annual instalments over the expected useful lives ol the relevant assets. lill Revenue grants Revenue grants are included in the income and expenditure account on an accruals basis. 1.5 Inve9tmgDts Investments are irlded al rnarkel value. Realised gains and losses arising on disposals ol investments during the year are includ1 in the slalemenl ol finarcial activities. Unrealised gains and 5osses arising on revaluation ol the investments al the end gt the year e adjusted on ck)sing funds by inclusion in the summary statement ol linancial activities. Income from investments is included in the accounts when receTvable.
Braemar Mountaln Rescue As%)ciation Notes to the Flnanclal Statements (contlnued) lor the year ended 31 st August 2025 1.6 Legacles and donatlong Legacies and donations are includ8d in the financial statements wh&n Yeceivable and on an accruds basis lo the extent that the monetary value can be reasonabty quanlrfied. 1.7 Taxatlon The Association is a registered charty a1 is therefore exempt from laxalion. 1.8 Stock St¢xk ol books, promotional materials and slalionery is slated al cost. 1.9 Support costs Support costs include the costs a$slated wlh constitutional and statutory requirements and are recognised on an accruals basis. 1.10 Debtors Debtors are recognised al the settlement amount due. Prepayments are valued at the amount prepaid. 1.11 Cash at bank Cash at bank includes balances within a¢$s[b bank accounts wilh no matuiity dale. 1.12 Credltors Creditors are reccgni%ed where the association has a present otAigation resutting from a past event that will probably result in the transfer of funds lo a third paty and the amount due lo settle th8 obligation can be measur8J OT estimat1 reliably. 1.13 Flnanclal Instruments The asscciation only has financial assets arKI financial liabilities of a klnd that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at tt)eir settlement value. 2. Voluntary Income 2025 2024 Scottish Mountain Rescue Donations and collection LK)xes Legacies Tax recovered Contributions lo presentation fund 27,395 59,025 27.350 29,076 52,643 52,293 1.3SS 113,770 135,366 3. Investrnent Income 2025 2024 DIVendS Bank interest 51 4,150 13,349 7,958 4,201 21,307
Braemar Mountain Rescue Assoclation Notes to the Flnanclal Stalements Icontlnued) forthe year ended 31s1 August 2025 4. Incomlng resources from charftable a¢tlvlilos 2025 2024 Book sales Other fundraising 5. Costs of generallng voluntary Income 2025 2024 Miscellaneous expenses 843 2,138 6. Charltable actlviligs 2025 2024 Council lax Heal and light Cleaning and rnaintenance costs Insurance Training Property and equipment repairs Pres8nlalion Fund costs Bank costs Highland Cross anty lees Sarcall subscription Sundry expenses Membership costs Travel costs Telephone Sponsorship Rescue equipment and medical supplies Transport costs Depreciation ol property, garage equipment, vehicles, and computers 2,117 1,894 3,277 1,764 9,222 8,079 12.296 3,034 616 161 360 8.449 14,109 1,573 335 155 186 899 51 2,333 439 400 1,806 3,333 29,741 6,945 7.180 36,261 9,087 9,387 86,836 89,153 7. Support costs 2025 2024 Investment management lees Professional lees Accountancy foes 7,332 7,442 1,440 1,425 8.772 8,867 10
Braemar Mountaln Rescue Associatlon Notes to the Flnanclal Ststements Icontlnued) for thg year ended 31st August 2025 8. Related party transactlons and member's expen8es and remuneratlon No comrnittee member received any remunerelion lor their duties carried Clut in the year12024- Nill. Expenses paSd to the members in the year lolalled £4,23512024 - £3.3281 which were made up ol seven memt*r's reimbursed expenses lor Association costs. g. Tanglble Ilxgd assets Motor Garage Compulgr vghlcles equlpmenl equipment Propgrty Total Cost At 1 st September 2024 Additions 288,458 294,688 27,197 19.096 11,709 348,460 294,688 Al 31st August 2025 583.146 27.197 19,096 11,709 641,148 Depreclatlon At 1 st September 2024 Charge lor ypar 48,811 5,891 22,761 13.955 1,535 9,685 850 95,212 9,387 At 31 sl August 2025 54,702 23,872 15,490 10,535 104,599 Net book value Al 31 sl August 2025 528,444 3,325 3,606 1,174 536,549 Al 31 sl August 2024 239.647 4,435 S,142 2,024 251248 Following ngthY discussions regarding ownership of the Mountain Flesctje Centre al Braemar, a legal agreement between the A8socialion and POle Scotland (Grampian Polre ceased to exist when Police Scotland was formed on 1 st April 20131 was signed in April 2013. which identrfied that each organisalion now owns ol the lIdIng, and also accepts responsibility lor ol the tIllIng'S maintenance and running costs. The recent construction work lo our base in Braemar wa5 also undertaken and paKI lor on this basis. The Association has a pO1¢Y ol lully expensing rescue equipment in the year ot acquisition. This poIY is approprrale for the equipfftenl due lo the nature ol ils use.
Braemar Mountaln Rescue Assoclatlon Note5 to the Flnanclal Statements {contlnued) for the year ended 31 st August 2025 10. Investments 2025 2024 Usted Investments Markel value at 1st September 2024 Additions Disposals Net unrealised Ilossllgain 1,080,050 972,688 1,398,000 11,382,057) 91,419 130.0541 83,9)7 Market value at 31st August 2025 1,133.903 1,080,050 Hlstorlcal cost at 31st August 21Y25 970,792 914,781 Market value at 31st August 2025 comprl8es Equities Charisharelcharifund units 1,133.903 1,080,050 1,133,903 1,080.050 Whereof: Investment assets in the UK 1.133.903 1,080,050 11. Dpblor$ 2025 2024 Other debtors Prepayments 10.105 9,393 626 31,459 19,498 32,085 12
Braemar Mountain Rescue Assoclatlon Notes 10 Ihe Fln8nclal Statements IcoNlnuedl for the year ended 31 sl August 2025 12. Cash at bank and In hand 2025 2024 National Savings Income Bonds Bank ol Scotland Current Account Bank of Scotland Presentation Fund Account Bank ol Scolland Business Instant Online Account Stockbrokers funds held 175,000 66,514 837 30,000 19,573 38,894 79,549 12,754 132,040 291.924 13. Credltor¥: amountg falllng due wlthln one year 2025 2024 Other creditors 76,005 13.849 14. Funds 2025 General Presentatlon Fund Fund 2024 General Presentstlon Fund Fund Total Total Al 1 si September 2024 Nel surpluslldelicill lor year Transfers bptsyeen funds Other recognised Ilossesllgains 83,907 1,641,558 1,640.721 21,520 21,855 13411 83,907 837 13351 341 1,493,624 1,493,525 56,515 55.777 99 738 91,419 91,419 Al 31st August 2025 1,746,985 1,746,142 1,641,558 1,640,721 837 lal The General Fund is unreslricled and is available lo be spent for any purpose ol the charity. Ibl The Presentation Fund 15 a restricted fund and is used towards giftslleaving events lor members and the money in this fund comes from the members. 15. Allocatlon of net assots amongst fund5 General Fund Presentatlon Fund Total Tangible assets Investments Stock Debtors Cash at bank Creditors 536.549 1,133.3 1,0 19,498 131,197 176,0051 536,549 1,132,903 1,000 19.498 132,040 176.0051 843 Net assets al 31st August 2025 1,746,142 843 1,746,985 13
Braemar Mountaln Rescue Assoclatlon The followlng page does not form part of the flnanclol statoments 14
Braemar Mountain Rescue Asso¢latlon Schedule 1 Invgslments Market Value at 3110812S Market Valuo at 31108124 Cost at 31108r25 Cost at 31108124 Income Brgemar Communlty Hydro Ordinary £1 shares 51 600 600 653 653 Central Inve¥iments portfollo 1,133,303 970,192 1,079,397 914,128 51 1,133,903 970,792 1,080,050 914,781