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 addl￿n, 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. Thro￿hoUt the year the Asstxiation's equipment
continued to ￿ maintained and updated in accordance with t)est pl￿tice and manufacturers re¢omm&ndalions.
Team MeMb￿S continue to train in various aspects ol mountaineering wh￿h have a dir6rl connection with
mountain rescue- this includes both internal a￿1 external training which not onty develops those individual
members bul also allows cascading ol S￿IL$ 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 i￿ome 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 cor￿lStent and growing income, with reasonable prosF*cts 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 cOntinuan￿OIthe 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
tr￿ning, 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, wh￿h has the power 10 delegate any part ol its duties to indivvjuals or sub-gr￿pS 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 prac1￿al 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 2￿5 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 U￿lated as and when requi￿d.
As lar as the admlni8tratv)n of the Associati4￿ is concemed, the main risk is a lack of funds to enable the
AsSocial￿n 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 re￿Wed from the Scottish Governmpnl ¢e2se. Funds currently held are also required lo
finance the replacement ol the off-road veh￿les, 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 U￿ertainl19S
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 finar￿1￿ 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 sland*ds have been followed, subject trj any malèrk41 departures
disclosed ancf explained in the financial ststements,.
lel prepare the financial slalemenls on the going Can￿rn basis unless il Is Inappropfiate lo presume that Ihe
Associatlon wll continue in operalion.
The trustees are responsible lor k*ping 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)nSi￿e for safeguarding the assets ol the Association and hence lor takirvJ
reasonable steps lor the preVent￿n and detection ol Iraud and other Irregularit￿S.
The Irustees are responsible lor the maintenance and integrity of the charity and linan¢ial inlomiatksn irrI￿led 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 Part￿ular 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 prO￿dureS 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 aMer￿ed)
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 prepa￿1 in accordanc8
with the Slalement ol RecommeThJed Praclke Accounting and Reporting by Charities weparing their
a￿oUnts in ac(ordance with the Financial Rewrting Standard ap￿ICable in the UK and Republic of
Ireland IFFIS 1021 issued on 161h July 2014 - {Charil￿S 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 0￿8¢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 eXp￿ted 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 ir￿l￿ded al rnarkel value. Realised gains and losses arising on disposals ol investments
during the year are includ￿1 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 a￿1 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$s￿lated wlh constitutional and statutory requirements and are
recognised on an accruals basis.
1.10 Debtors
Debtors are recognised al the settlement amount due. Prepayments are valued at the amount prepaid.
1.11 Cash at bank
Cash at bank includes balances within a¢￿$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 estimat￿1 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
DIV￿endS
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 POl￿e 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 t￿IllIng'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 pO￿1¢Y ol lully expensing rescue equipment in the year ot acquisition. This poI￿Y 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