Charity registratlon number.. 5C008993 Co-operative and Community Benefit Societies Att No 1901RS Abbeyfield Perth Society Limited Annual Report and Finanoal Statements for the Year Ended 30 September 2025 Abbeyfield Perth Society Limited Contents Reference and Admlnlstratlve Details Executive Committee's Report 2to7 Statement of Executive Committee's Responsibilitie5 Independent Auditors, Report 9t013 statement of Financial Attivities 14to15 Balance Sheet 16to17 Cash Aow Ststement 18 Notes to the Financial Statements 19to36 Abbeyfield Perth Society Limited Reference and Administrative Details Chairnlan istsir Bam Executive Committee Jistair Bam Fiona Van Aswegen Anne Elizabeth Kean Elaine Agnes Donalé Jennifer MacGregor Chades Carnegie Fergus aark Jennifer Bryce Carolire Glinka Elaine ￿01 Secretsry Jennlfer Bryce Treasurer Chèdes Carnegie Senior Management Team KathI￿n Dougla5, Manager Elaine ￿oIce, Administrator (Retired 31 December 2025) Principal Office evdands House 25 Viewlands Rd Perth PHI IBL Society Registration Number SC008993 Investment advisors Chades Stsnley 2 Multrees Walk St Andrew Square Edinburgh EHI 3DQ Morris & Young, Ststutory Auditor Chartered Accountants 6 Atholl Crescent PERTH PHI 5JN Auditor Page I Abbeyfield Perth Sticiety Limited Executive Committee's Report The Exeajtive Committee present its sixty-third annual reF¢rt tcrfJether with the finan(ial statements for the year ended 30 SePtemi￿ 2025. The financial ststements have been prepared in accordan￿ ￿th the ￿counting polKies set out In note L to the financial ststements and COME￿Y with the Sctidy's rule5, the Co-operatlve and Community Benefit Sc(ieties Art 2014, the Charit￿5 and Tnjstee Investrnent (Scotland) P£t 2005, the Charits'es Accounts (kn￿a￿l) Regulations 2(￿ and knounts'ro and ReportirrfJ by Charities.. ststement of Recommended Prxtice applicable to charibes p￿par1rwj their accounts in accordance with the Financial Repofbng Standard atylicable in tre LM and Reputrfic of Ireland (FRS 102) {effettive l January 2019). Objertives and artivltks Objertsandalms The principal activ￿ of tre Scoety is to provide aCcommCtht￿, we and c￿npaftfv￿5h•P for lonely or frail elderly reople in wth ts aims arthj WfKi*s of The AbtyhehJ &xW in *otland Limited (ASIS). The rules of ASIS, of whith the Perth xriety 15 an affiliated member, g)vern the apwintment of the Committee wh￿h is tharged with the management of the kniety in fvrtherance of its Guiding PrincipÈs', fund management and financial affairs generally. Meml)ers of the Exeajtr've Committee are ch¢)5en by seleth.on ¢y elect￿ and each one becomes a member of the Sxiety upon payment of £1. Eath Mern￿r of the Executive Committee is akwinted for a tem) of three years following which helshe is required to retire but is e1￿Ible fcK re-elettion. Tr Executive Committee meets as and when required, including the necessary ihretrmonthty meetings. The is an affilhlted member of ASIS by pawnent of an annual subscrlpti'on. Je2 Abbeyfield Perth Society Limited Executive Committee's Report Athievements and perforn*nLt A surplus of £84,775 (2024 - E105,334 surplus) was athieved in the year. TrE 0￿YPancY rate at VI￿and$ House (32 rcoms) was 97.3% compared to 99.1% for 2024. Residential (zre remains wr primary f(￿s, however the nursng f￿]Ity continues to be successful. Residents and their families have wdcomed this seNice as the continurty ftom re￿￿ents"al to nursing care is beneficial. management of staff res￿rceS auoss the year has conts.nued to be extremely challenging but by the staff exercising 9reat flexibilty to their woth'ro rotss and the 1ntrcxJuct￿ of 'bank' staff we have managed to minimise the need to cal on ageyy stsff to fill in any gaps and have managed to ontinue to achieve the high level of G4re required. This is e￿de￿ed by the Care Inspectorate's visit in the year giving the Home a ratiThJ of 5 'Very GTh)Y' vthich is an excdlent result. The Soo"ety has instigated all appropriate protocds and maintsined the testing regime in VIe￿and5 Hwse as required by the legi￿at1(￿, cu￿ent at bm We are indebted to our man￿er Kat tknjglas wrth her deputy Diare Smrth fcA the effort and tr'me they spend to maintain these high stsndards and dw cjintinue to have the support of the Executive Qimmittee. stsff and the residents. aiKI tsr farn11￿5 continue to express their aPprÉ￿ati0n of their management role within the Home. In Viewlands Court, set wthin t￿ grcwrKJs of VIe￿and$ H￿Se, the kn.ety has 9X tyjngalows whith are let, under Private Reskdential Tenancy agreements, to dderty rEotAe who wish to live indererKlenUy. The six bungalows have been (￿l￿ed 96.ph ￿ the year (2024 - 93.3%) and the tenants are all visited regulady to ensure that tw are happy with thar accomM￿atrIn. properts'es become vacant, we have Commen￿ a refurbishment programme refitting the kitchens. The Exeojtive Committee acknowlebjes the contTibution of volunteers arKI 'Friends' of the k￿lety who have provided valuable Se￿￿ over the year and arrange cNJb"ngs for the re*dents with a full pwramme of events and OUtir￿ The Annexe Is prowng to be a very u5efiJl addrtK)nal space for artivities for residents and now. being ny)re accessible, its use will conlinue to expand. rinancial review At the balance sheet éate, ￿ Sooety has fullds available for general Lse totslling £1,398,156 12024 £1,313,381). In addits'on, the Society ha5 a Devdopment Reserve of £1,066,111 {2024 £1,066,111) and a Fubjre Cydthl and Major Repairs Reserve of ElOO,(XX) {2024 £100,(KJOl as detsiled in Note 23. The Executy"ve Commitiee has overdl reSp(￿sibIlIty for engjring that the knety has apprcpriate systems of ccntrols, financial and othen¥ise. The systems of financial contrtAs are designed to provide reasonatrAe. but not absolute, assurarKe against material misststernenl ￿ loss. They include an annual budget, approved by ￿ Execubve Committee, which is regulatly reviewed against actual results and variance5 from forecast. Systeffs for delegatron of authority and segregation L< dutie5 a5 far as ￿)tyb1e given stsffing levels a￿ algtr in pl￿e. Page 3 Abbeyfield Perth Society Limited Executive Committee's Report The Society doe5 not have a reserves ￿lIcY other than to maintain a fund of at least £lOO,000 required for future cydKal and major repairs in the medium and bng tem. The Soaety has free liquid re5eNes well in excess of this amount with cash at bank and in haTrJ of £1,378.098 (2024 - £1,378,098} but it is the inteth.on of the Sc(Ety to Use these reserves towards future eXpanS￿n or investment OPtx)thJrEities as thcy aiise. Principal risks The key to future financial surpluses is the mix ttheen sdf and Council-fuThlal residents, and the overall level of (Kcupancy at Wthylands H(￿se and tt* Viewlands Court bursgalows. In past years Viewlands res￿en￿"al (￿￿pan(V has maintsined at reasonabty hmjh leveL8 and as mtts"gation we re enCOu￿ged by the numiEr currenty on ojr waiting lisL In addition. the retention of staff ts a maffty ((M)%de￿ and the availabilty of rEw staff mains difficult to find. FalliNJ interest rat&5 %wII also affert the rettjms received from ￿r investments. Paje 4 Abbeyfield Perth Society Limited Executive Committee's Report Plans for future period$ Aims andkeyobierti¥es forfirturepenods Stsff retention and development will remain a priority of the kniety. Training programmes will continue to be prepared to meet the requirements of staff retention induding those required by regulation. With inflation rates not falling as qui&ly as forecast the knety must IcM)k at maintaining satistsctory levels of increase to staff wage5 as proper recompense for the work that they do. The society has budgeted in the year 2025 to 2026 to continue to pay all of our (arers at and above the 'Real Living Wage,. This will all assist in maintsining the retention of staff and attract others. With almost 80% of the Society's orerating costs being staff costs the consequence of this coupled with the increased National Insuran￿ costs which came into effect in April 2025 will be that regdents will also need to reviewed upwards. This will be carried out with a close scrutiny of the Ca Home market and the society is cOnfid￿t that this can be achieved and still remain highly CoMpet￿ve in the marketplace. Programmes to ￿duce operating costs vta energy efficiency improvements and energy sawrys will continue during the year. The instslkts'on of solar panels to the Home in the previous year has already demonstrated the benef￿ in savings to our energy bills. though there is little opportunity to expand wrthin the limits of the e¥isting grounds of Viewlands House the Society will continue to seek opportUn￿eS to expand the setvices offered for the care of the elderly in and arc￿nd Perth. The policies ènd procedures of the Society are reviewed on a regular basis to ensure that the residents continue to r￿1ve the trEst quality of care. A 'pack' of information on the responsibilitie5 of trustees has been distributed to all trustees and will be provided to all new trustees. AbbeyField Societies, in common with other care orgar*i5ations, face change in society, in particular, the national drive towards 'care at home, and increasing regulation. However, the Society believes there will be a continuing need for high-quality ￿dentIatr and nursing Ca￿ to be provided by independent voluntary organisations as witnessed by our healthy waiting list for new residents, and the Society conb.nue to invest in improvements to the facilib'es. To this erKI the Sooety continues to monitor the developing market to ensu￿ that the level of care and facilities provided remain relevant to the future development of Ca￿ home provision. As an example the Society, recc4Jni&ng the increase in residents requiring nursing care, are in the process of altering the layout of the rcxjms which currently have restritted aC￿sS to some nursi￿ equipment. This will allow all rooms to be able to prOv￿￿e nur&ng care. Page 5 Abbeyfield Perth Society Limited Executive Committee's Report strUC￿re. governance and management The Soaety is registered under the Co-operative and Communty Benefit societ￿ Act 2014 (Number 1901R(S)) and is an exempt charty with solely chafitsble obiecbves. The kKiety is registered as a charity (SC(W993). The Executive Committee who served during the year and up to the date of signature of the financial statements were.. Alistair Barn (reappointed l April 20251 Elaine Agnes t)onald (reappointed 26 March 2026) Anne Elizateth Kean Fiona Van Aswegen {reappointed 26 March 2026) Charles Camegie (reappointed 26 March 2026) Jennifer MacGregor (reappointed l April 2025) Fergus Clark (reappointed l April 2025) Janet Grant (resigned l April 2025} lyson Murray {re5igned 12 November 2024) Caroline Glinka Jennifer Bryce Elaine Blo1￿ {aptM)inted l January 2026) In accordance with the registered rijles of the Society, Charles Carnegie, Fiona Van kwegen and Elaine Donald retired by rotation from the Executive Committee. Al have Offe￿ thernselve5 for re-eleth.on and were accepted. Recruitment andapp0lntn￿nt ofExetutive Committee Trustees are recruited by advertising, or word of mouth. New Trustees must complete an application form, a PVG disclosure, ané have 2 satr"5fattory references. New Trustees will be provided with a trustee 5 information pack and the papers and minutes of the most recent meeting to bring them up to date. will be invrted to the next Tru5tees' meeting and introduced to the other members. Lkpending on their skills and exper1er￿, they may be inmted to be the Trustee representative in their particular fidd of expertise. Arrangements forsetting key managementpersonnelremuneration The remuneration of key management perKnnel and all staff is discussed and agreed by the EX￿Utsve Committee. Finanaal instruments Obiertives andpolicies The Sc(iety s attivitie5 expose rt to a number of finanoal risks includirKJ tredit risk, cash flow risk and liquidty risk. The Executive Committ* have assessed the major risks to which the Society is expctsed and are satr"sfied that systems are in place to mitigate its exwsure to major risks induding arrangements to review the risks on a regular basis. Page 6 Abbeyfield Perth Society Limited Executlve Commlttee's Report The EXeCu￿ve Committee has retsin￿1 suffiaent cash resources to meet the immediate requirements The Sxietys pdnclpal finandal assets a￿ bank balances, cash and fee irbcome debtors. Sxletys tyedlt ￿sk Is prlmarfly attributab￿ to its fee income debtors. The amounts presented in the balano sheet a￿ net of aS[oWan￿ for doubtful recelvables. An allowance for Impaim)ent is made where there is an identified10s5 event whith, based on prevbOUS experIen￿, Is eVIden￿ of a redurtlon In the recoverabllity of the cash flow5. The credlt rfsk on I￿UkI fvn¢ts Is Ilmlted becal￿ Ihe coUnterpa￿e$ are banks wlth hl9h credit-rn￿ngs gned by Internatlonal fftdlt-ratlng Jjencies. The Sxlety has m slgnlficant concentratyon of uedlt rlsk, wlth exposure spread over a large number of c(yJnterpartles and customers. In order to malntain Ibquidlty to ensure that SLrfficient funds are available for ongolng oFerations and future developments, the Soclety's Ilquld funds are kept In a combinauon of a non-interest-karing bank account for serviung the kdety's everyday flnanclal needs, In Interest-trearfng bank accounts and managed investments balandng the need for wdy access to those funds wlth long term fvture FQrtunlty to maximlse the return on those funds. Dlsclosure of Infornmtlon to audltor Each member has taken steps that they ought to have taken as a member In order to make themselve5 aware of any relevant audit information and to establish that the Society's auditor is aware of that Informatlon, The ExeoJUve Committee confim that there Is relvNant Info￿natIOn that they know of and of whlch they know the audltor Is unaware. annual report wa5 approved by the Executlve Committee of the Soaety on 26 Marth 2026 arKI *ned on its behalf by: Allstair Barn Chalrman and Trustee Page 7 Abbeyfield Perth Society Limited Ststement of Executive Committee's Responsibilities Execub've Committee a￿ resth)ngt4e for pfeparing the Executive Committee's Annual Report and financial statements in accordance with the United Ktngdom Accounting Standards (United Kingdom Generally Accepted Aco)unts"ng Pr&tbce) ar￿ atplicable kw and regulaOon& law applicable to chanb.es requires the ExeoJtNe Committee to prepare financial statements for each financial year which give a true and frdir ￿eW of the stste of affairs of the Soa"ety and of the 1￿MIng resour￿5 and applicatK)n of resour￿ of the Scoety for that peri(x1. In preparing these financial statements, the Execub"ve Committee are required to: sdect sutsble accountiry p￿lueS and then appty them consistenty; observe the meth¢JJs and prin￿￿e5 in the Charitses SORP; méke judgements and estimate5 that a￿ reasonable and prudenL' state whether applicable accounb.ng standards have teen fdlowed. subject to any material departure5 disdosed and exrdain8J in the finar￿la1 ststements: ar prepare the financial Statements on the going crAKern ba95 unless it s inappr￿￿￿te to presume that the charity will C￿tInUe in business. The Executive Committee are resp￿￿1t￿e for keeping proper actountirK4 records that disdose with reaSona￿e accuracy at any time the financial kNJStti￿ of the knety and ena￿e them to ensure that the financial statements comFdy with the Charities and Trustee Investment Iscdandl Art 2005, the Ccroperative and C(ynmunity Benefft Art 2014. trE Charities Accounts (Scotlandl Regulations 2(KJ6 (as amended) and the prowsions of the Society's Constituti￿. The Executive Committee are also respons1L￿e for safeguarding the assets of the 5c(iety and hen￿ for takj'ng reasonable steps the weventKJn and detection of fraud and 0￿r irwularities. Abbeyfield Perth Society Limited Independent Auditor's Report to the Members of Abbeyfield Perth Society Limited Opinion We have audited the financbal statements of Abtwfidd Perth Souety ￿rn[t￿ (the 'Sc(iety') the year ended 30 September 2025, whth comprise the Ststement of Financial Activities, Balance Sheet, Cash Aow Ststement, and Notes to the Financial Ststements. inclLxding a summary of significant accounts'ng p)licies. The financial rep)rting framewo￿ that has teen ap￿led in their preparation is aprjicable law and United KiThJdom Accounb"ng s￿￿13rd5, c(Mnprising Chariks SORP {FRS 1021 and he Finawal Reporting StsrKlard aprAicable in the UK arK1 Repu￿[ of IrelaThd' (FRS 102) (United Kingdom Ger￿allY Accepted AcoJunb"ng p￿tiCe). In Dur orinion the finanoal ststernents= give a true and fair view of the slate of the ￿)ety'S affairs as at 30 Septemkr 2025 and of its results for the year then ended; have been woperly prepar&1 in accordarKe with Untsd ￿ngdoM Ge￿allY A(￿pted kcwnting Prattice,. an have been prepared in accordan￿ with the requirements of the OTrot*rative and Community Benefit &Kieties Act 2014, the Charities and Trustee Investment (Scodand) Att 21J05 and regubtion 8 of the Charl￿$ Accounts (Scotiarn1) Regulaticns 2006 las amended). Basi$ for opinlon We condLTrCted our audit in acCOrda￿e with Intwnational Standard5 on A￿j￿1￿j (UKI (ISAS (UKI) and ap[￿Icable law. Our responsibilities under those standards are further described in the Auditor's responsibilities f(x the audit of the finanoal statements secbon of our rewrt We a￿ independent of the Sxiety in accordance with the ethical requirements that are rejevant to our a￿11t of the financial ststements in the UK. incI￿1n9 the FRCS Ethical Stsndard, arKI we have fijlfilled other ethical responsibilities in aCCc*dan￿ with requirements. We trAieve that the audit ewdence we have obtained is gjfficient and appropriate to wovide a bags our opinion. Condusions relating to going concern In au(titing the financial statements, we have conduded that the Ex&utNe Committee's use of the going concern bass of accountiThJ in ￿ preparation of the financia ststements is appropriate. Based on the work we have perfornied, we have rK)t Hjentified any material un￿rtal￿tieS relating to events or conditions that, Indivioually or cotknbvdy, may cast ￿9n￿1C0nt doubt on the Sorietys ability to conts.nue as a going concem for a peric*J of at least tThelve months from Wh￿ the finanaal ststements are authorised for issue. Our responsibilitses the reSFonsiblit￿S of the Exeojtive Committee with respett to g(xng corKem are described in the rdevant secb.ons of this reFQtL The Executive C(￿rnittee are re4K)n5it4e for the txher information. The other infcfmation comprises the Information included in the annual report, other than Ihe financial statements and our auéitors rem thereon. Our opinion on the financial statements (x)ver the other infomiation and. except to the extent otherwise expliatly *ated io fJJr rep)rt, we do not express any fom of assurance condusion thereon. Abbeyfield Perth Society Limited Independent Auditor's Report to the Member5 of Abbeyfield Perth Society Limited In connection with our audrt of the flnancial statements, our responsibility is to read the other infomiation and, in doing so, consider whether the other informabon is materially inconsistent with the financial statements or our knowledge obtained In the audit or otherwise appears to be materially misstated. If we Identify such material incon515tencie5 ￿ apparent material misstatements, we are r¢Nuireé to determine whether there is a material misstatement In the financial statements or material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misststement of this other informats'on, we are required to report that fact. We have nothlng to report in this regard. Matters on whlch we are wulred to report by exceptlon In the light of our knowledge and understanding of the Society and its environment obtained in the course of the audlt, we have not Identined materlal mlsstatements In the Executlve Commlttee's Report. We have nothing to report in resFect of the following matters where the Charities Accounts (Scotlandl Regulations 2006 (a5 amended) requires us to report to you if, in our oplnion: proper books of accounts have not been kept In accordance wlth the requlrements of the leglslatl(y),' or the financial statements are not sn agreement with the accounting records and retums; or satisfactory system of control ovef transactions has not been maintained by the Society In accordance with the ￿Pl¢irements of the le9islation,' or certaln dlsclosures of ExecLrtlve Commlttee members remuneration speclfied by law are not made; or we have not received oll the information and exptanations we require for oui audit. Responslbllltles of Exetutlve Comrnlttee As explalned more fully in the Ststement of Executive Committee's Responslbllltles {set out on page 81, the Executive Committee are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Executive Committee determine is necessary lo enable the preparats'on of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Executive Commlttee a￿ responsible for assesstng the Society's ability to continue as a 90in9 concem, disclosing, as applicable, matters related to going concem and usng the goin9 concern basis of accounting unless the Executive Committee esther intend to Iwuidate the Society or to cease operations, or have no realistic alternats've but to do so. Auditor's responslbllltles for the audlt of the financial statements Our objectives are to obtain reasonable assurance ab￿Jt whether the financial statements as a whole are free from material misstatement, whether due to frau(J or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit condutted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they Could ￿SOna￿Y be exiErted to Influen￿ the economic decisions of users taken on the basis of these flnancial statements. Page 10 Abbeyfield Perth Society Limited Independent Auditor's Report to the Members of Abbeyfield Perth Society Limited Extent to whlch the audlt was considered capable of detectlng irregulaiitie4 Indudlng fraud We identify and assess the risks of material misstatement of the financial statements, whether dl￿ to fraud or error, and then design and perform audit pro￿ureS responsive to those risks, including obtainirvJ avdit evidence that is sufficient and appropriate to provide a bags for our opinion. Identifylng andaSSe￿n9P0tentlaJ rtsksrelated to irregularities Irregularities. including fraud, are Instsn￿5 of non-compliance with laws and regulations. We de&gn procedures in line with our responsibilities, outlined atx>ve, to detett material misststements in respert of irregularities, including fra)Jd. The extent to which our prO￿￿re$ are capable of detecbrkg irregularities, Including fraud is detailed below.. the fiatu￿ of the regulated sector, control enwronment and understanding of the entty including, but not restricted to, the understanding that the Executive Committee are not remunerated, and the prevalen￿ of fraud in the 5ettor especially in the current uncertain economic environment. results of OLFr enquiries of the ExecLStive Committee atrx)ut their own identification and assessment of the risks of irregularitr'es. any matters we identified having obtained and review￿ the Sxiety's, dc£umentation of their tx]l￿leS and procedures relating to.. 1denti￿.ng, evaluating and complying with laws and reJulatior$5 and whether they were aware of any instances of n0n-compliaTr￿- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspetted or alleged fraud; the Internal controls established to mitigate risks of fraL*J or nonrfompliance with laws and regulations,. the matters discussed among the audit engagement team regarding how and where fraud mwJht ocojr in the financial statements and any potential indicators of frnud. a resu￿ of these pr(Kedures, we considered the opportunities that may exist within the organisation for fraud and identr'fted the greatest wtential for fraud in relation to revenue recognition. In common with all aLId￿$ under ISAS (UKI, we are also required to perfomi Spectr￿ pr￿lureS to respo￿1 to the risk of management override. We also obtained an understsnding of the legal and regulatory framework5 that the kniety operates in, focusing on provisions of those laws and regulations that had a dirert effect on the detemiination of material amounts and disclogjres in the financial 5tstements. The key laws and regulations we considered in this contexi included the Society's Constitution, and various charty-5pecific legislation, induding The Charities and Trustee Investment Iscodand) Act 2005 and the c0-0￿rative and Community Benefit &xiety'es Act 2014. Page 11 Abbeyfield Perth Society Limited Independent Auditor's Report to the Members of Abbeyfield Perth Society Limited r procedure5 to respond to risks identified inclu(Jed the following.. reviewing the financial ststement disdosures and testing to supporting dcKumentation to assess compliance with provisions of relevant laws and regulations described as having a direct effert on the financial ststements; • enquiring of the Execub've Commlttee and legal advlsors COn￿rnIng adual and kK)tential litigation and daims; performing analytical procedures to identify any unusual or unexpected rdation5hip5 that may Indicate rlsks of materlal misststement due to fraLKI; reading minutes of meetsngs Df those charged with govemance,- prwf in total of Residents, and Tenants, Charges income was condurted, and consideration given to venue ￿ognition accounts.ng policies. Aso reviewed the minutes of meetings for cOm￿etene55 of In addresslng the rlsk of fraud through management override of controls, testlng the appropriateness of Journal entries and other adjustments,. assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluats.ng the business rationale of any svJnificant transactions that are unusual or outside the normal course of bu51nes5. We also communicated relevant identified laws and regulations and potents'al fraud risks to all engagement team members and remained alert to any indicats.ons of fraud or noncompliance with laws and regulats'ons throughout the audiL Due to the Inherent Ilmltatlons of an audlt, there Is an unavoIda￿e dsk that we may not have detetted some material mi5Statements in the finanoal statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as Wlth any audlt, there remalned a hlgher risk ol non-oetethon of Irregularltles, as these may Invofve collusion, forgery, intentional omission5, misrepresentstyons, or the override of internal controls. We are not sponsible for preventing fraud or non-compliance with laws and regulats'ons and cannot èe expected to detert all fraué and non-compllance wlth laws and regulations. A further description of our responsibllities for the audit of the financial statements is located on the Financial Reporting Council's website at wviw.frc.org.uklauditDrsresponsibili￿e5. This description form5 part of our auditor'5 report. Page 12 Abbeyfield Perth Society Limited Independent Auditor's Report to the Members of Abbeyfield Perth Society Limited Use of our report This report is made solely to the Society's Executive Committee, as a body¢ in accordance with secbon 44 {1)(cl of the Charities and Trustee Investment {Scotland) Act 2005 and Regulati￿ 10 of the Charities Account5 {Scotlandl Regulations 2006 (as amended). Our work has been undertaken so that we might state to the Society's Executive Committee those matters we are required to state to them in an auditors, report and for rK) other purpose. To the fullest extent permitted by law, we do not ac￿pt or assume responsibility to anyone other than the Society and its ExeaJb"ve Committee as a ￿￿y, for our audit work. for this report, or for the opinions we have formed. Norris & Youngft Ststut Eligiile to att as an auditor in tem)s of section 1212 of the Companies Act 2006 Chartered Accountsnts 6 Atholl Crescent PERTH PHI 5JN 13 April 2026 Page 13 Abbeyfield Perth Society Limited statement of Financial Activities for the Year Ended 30 September 2025 Total 2025 Totsl 2024 Unrestricted Income and Endowments from: Donations and legacies Charitsble aCtiv￿leS Other trading artivities Investment income other income 2,629 1,667,332 2,286 59,611 682 2,629 1,667,332 2,286 59,611 682 3,139 1,552.481 2,933 62,474 Total Income 1732 540 1623 229 Expenditure on: Raising fvjnds Charitable activities 14,233) 1654 508 14,233) 1654 508 (3,286) 1533 329 Total Expenditure Gainsl(losses) on investment assets 1658,741 1658 741 1536 615 Net movement in funds 84,775 PA,775 105,334 Reconciliation of funds rotsl funds brought forwar 2 479 492 2 479 492 2 374 158 Total funds carried forward 23 2,564,267 2 479 492 Page 14 Abbeyfield Perth Society Limited ststement of Financial Activities for the Year Ended 30 September 2025 Unrestricted funds 30 September 2024 Note Income and Endowments from: Donations and legacies Charitable activities other trading actIv￿leS Invesbnent income other income 3,139 1,552,481 2,933 62.474 3,139 1,552,481 2,933 62,474 Totsl income 1623 229 1623 229 Expenditure on: Raising funds Charitable artivities {3,286) 1533 329 (3,286) 1533 329 Total expenditure Gainsl(losses) on investment assets (1,536,615) 11,536,615) Net income 105 334 105 334 Net movement In furmds 105,334 105,334 Reconciliation of funds Totsl funds brought fwlaré 2 374 158 2 374 158 Total funds tarried fO￿ard 23 2,479 492 2,479 492 AJI of the S(xiety's acbvities derive from c¢Jnt(nuing operations during the above tr40 periods. The funds breakdown for 2024 is shown in note 23. Page 15 Abbeyfield Perth Society Limited {Registrdtion number: SC008993) Balance Sheet as at 30 September 2025 2025 2024 Fixed assets Tangible assets Investments 14 800,753 432 592 812,099 315 565 15 1233 345 1 127 664 Current assets St(Kks Debtors Cash at bank arKI in hand 16 17 3.441 47,658 1378 098 4,588 54,885 1378 098 18 1.429.197 1,437,571 Creditors: Amourts falling due within one year 19 Net current assets 1355 922 1 376 828 Totsl assets les5 cUrr￿t liabilities 2,589,267 2,504,492 Creditors: Amounts falling due after more than one 20 Net assets 2 479 492 Funds of the Society: unrestricted Income funds Unrestrictsd 2,479,492 Total fund$ 23 2 479 492 Page 16 Abbeyfield Perth Society Limited (Registratlon number: SC008993) Balance Sheet as at 30 Septsmber 2025 financlal statements on pages 14 to 35 Vrfe￿ approved by the Exeojtlve c￿nmIttee, and uthorlsed Issue on 26 Marth 2026 and *ned on thelr behalf by: Allstair Barn Chaim)an and Trustee Jennlfer Bryce Secretary and Trustee Charles Camegle Treasurer and Trustee Page 17 Abbeyfield Perth Society Limited Cash Flow Statement for the Year Ended 30 September 2025 2025 2024 Note Cash flows from operating artivltles Net cash income 84,775 105,334 Adjustments to cash flows from non-osh item$ Depreciation Investment income Revaluation of investments 14 11,346 159,611) 4,515 {62,474) 22,960 29,135 Working capital adjustment$ Decrease In stocks Decreasellincreasel in debtors Increaselldecrease) in creditors 16 17 19 1,147 7.227 708 {10,214) Net cash flows from operating activitie5 Cash flows from Investlng artlvltles Interest receivable and similar Income Purchase of tangible fixed assets Purchase of investments Sale of investsnents 59,611 62,474 145,9231 125,8181 14 15 1128,970) Net cash flows from investing attfvibes Net Increase In cash and cash equivalents Cash and cash equlvalents at l October 18,813 1378 098 1359 285 Cash and cash equivalents at 30 September 1378 098 1378 098 l of the cash flows are derived from contlnulng operations during the above two perlods. Page 18 Abbeyfield Perth Society Limited Notes to the Financial Statements for the Year Ended 30 September 2025 l Accounting policies ststement of compliance The financial ststements have been prepared in accordance with Accounting and ReEN)rting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporbng Stsndard applicable in the UK and Republic of Ireland IFRS 102) leffertive l January 2019) - (Charities SORP (FRS 102)), the Financial Reporbng Stsndard applicable in the UK and Republic of Irdand (FRS 102), the Co-operative and Cornmunity Benefit Societies Act 2014, the Charities and Trustee Investment (Scouand) Act 2005 and the Charities Accounts {Scodandl Regulations 2006 (as amended). Basis of preparation The kKiety is a Public Benefit Entity as defined by FRS 102. The financial ststements have been p￿pared under the hist(￿Ical cost convention, mojified to include certain financial instruments at fair vèlue. The financial statements are prepared in sterling, which is the functional currerKy of the society. Monetary amounts in these TInar￿la1 ststements are r￿jnded to the nearest £. Going concern At the time of approving the financial statements, the Executsve Committee have a reasonable expectation that the Society has aéequate resources to continue in operational existence for at least the next 12 months. Thus the Executive Committee conkn.nue to adopt the going concem basis of accounting in preparing the financial statements. Critical accounting estimates and judgements Kn the applitation of the Society's accounting policies, the Execubve Committee are required to make jLKJgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent ftom other sources. The estimates and a550ciated assumptions are based on historical experience and Other factors that are c1￿51dered to be rdevant. Actual results moy differ from these estimates. The ests'mates and undedwng assumptions are reviewed on an Drvjoing basis. ReVisit￿S to accounts'ng estimates are recognised in the period in wh￿h the estimate is revised where the revision affects only that period, or In the period of the revision and future periods where the revision aff￿ts both CLJrrent and future periods. The Executive Committee o)nsider that theie are no estimates and undedying assumptions which has significant risk of causing è material adjustment to the carrying amount of assets and liabilities. Page 19 Abbeyfield Perth Society Limited Notss to the Financial Statements for the Year Ended 30 September 2025 Critical judgement - Residual value of housing prop￿185 No depreciation 15 tharged on hougng proFerb"es because they a￿ maintsined in a strate of ￿pair S￿ that management estimate the resmlual value crf these assets at the balarKe sheet date is r¥)t less than their net book value. Income and endowments Income is recognised when the kniety is entiyed to Èt after any perfOrn￿n￿ condibors have been met, the amounts can be measured reliabty. and r( is probable that income will te received. Cash donab"on5 are recryJnised ¢￿ recept. Other ¢knations are reo)Jnised orKe the Sxiety has been rM)tffied of the donats'on, unless Ferformor￿ coThJ1b"c￿￿ require deferral of the amount. Income tax reroverdble in relation to dona￿5 received Grft Ajd or d*ds of covenant is ￿￿jnISed at the time of the donation. Chartsble acts"V￿"eS Incorre indude5 re5Kknts' a￿1 tenants, tharge& Residents, irKome is u8Jited to the ststement of finanoal activities for the year in which it is ￿￿eNab￿. Grantsrewvable Grants retats.ng to revenue are recojnised as irK(xrt on a systunatic basis over the in which the &xiety recrNJni5e5 ￿ related costs for whth the grant is intended to compensate. A grant that becomes receivable as cOM￿nsa￿.0n for or losses already ificuThed or for the puryx)5e of giving immediate financial supp)rt to the knety with no future related c(ksts shall Ix recognised as income in the pericrfd in which it reca¥a)￿. Other trn01￿ artlvldes Incorne from trading aCtiV￿eS indudes Ir￿Me from fuThJraising Évents. Income is r￿1v￿ in exchange for supp￿'rvJ gcx)Js and Servi￿ in order to raise funds and t5 rKcrfJnis&l when entstiement has oC￿rred. Investment I￿rne is rectsjnised rwable. Expenditure AJI experKJiture is accounted for (m an accruals ba￿S and has dasgfied under headings that aggregate all costs rdated to the category. Ex￿rKI}￿re is reccgntsed where there is a legal or constnJctive obligatK)n to make PayTnents to third parties, rt is wobable that the setdement will required and the amunt of the Obl￿atiOn can te measured rdhabty. AJI costs are allc(ot8J ttheen the exFerKliture categories of the SOFA on a basis de%gned to reflect use of resour￿. Costs relating to a partbcular 3ctiMty are ollc(ated direttly, others are apFortioned on an appropriate basi5. Page 20 Abbeyfield Perth Society Limited Notss to the Financial Statements for the Year Ended 30 September 2025 Raising funds These are cost5 incurred in attrachng voluntsry income, the management of investments and those incurred In trading activities that raise funds. Chan"table acuvltles Charitable expenditure comprises those costs incurred by the S(Klety in the dellvery of ts actlvltles and services for ts beneficiaries. It includes both costs that can ￿ allocated directly to suth artivitie5 and those costs of an indirect nature necessary to support them. Support costs Support Costs include central fvnCt￿nS and have been allocated to activity cost categorfes on a basis consistent with the use of resources, for example, allocating proFety costs by fl¢>Jr areas, or per capita, staff costs by the time spent and other costs by Iheir usage, Governance Governance costs are those incLtrred in connection with the administration of the Sooety and in Complian￿ with consb'tuts'onal and statutory requirements. These costs are included within charitable artivities. Taxatlon As a registered charlty with HMRC, the Soo'ety is exempt from corporation tsx as all of Its Income Is charitable and applled for tharitable purposes. Tan9lble flxed assets Tangible fixed assets are initially measured at cost and subsequendy measured at cost or valuauon, net of depreciation and any impairment losses. The cost of minor additions or those costing below £l,¢]00 are not capitalised. Depreciatlon •nd amort5satlon No depreci*ion is charged on housing properties because they are maintained In a state of repair such that the estimated residual value of land and buildings at the balance sheet date is not less than their net bcok value. The annual charge for depredation WOL*ld therefore te Immaterlal, Depreciation is recognised so as to wrlte off the cost or valuation of a55ets less thelr residual value5 over their useftjl lives on the following bases: Asset cla Freehold land and buildings F￿tureS and fittings Depreclation method and r*e 20% straight line Page 21 Abbeyfield Perth Society Llmited Notes to the Financial Statements for the Year Ended 30 September 2025 Impairnient of fixed assets At each rep￿ng end date, the Society reviews the carrwng amounts of tts tsngiiAe a55ets to determine whether there is any I￿lIcatiOn that ljiose assets have Suffer￿ an impairment loss. If any such indicats.on exists, the recoveraile am(yJnt of the asset is estimated in order to determine the extent of the impairment loss (if ary). Flxed asset investments Fixed asset investments are i￿lUded at market value at the balan￿ sheet date. Realised gains and 1055es are calojlated as the drffererKe sale5 proceed5 and their market value at the start of the year, or thar ￿bSequent cost, and are charged or credited to the Statement of Financial ktimties in the wlcrfl of distxisal. Unrealised gains and losses re￿￿￿t the movement in market values duriThJ the year and are credited or charged to the Ststement of finanoal ActivTLies based on the market value at the year end. stock stc￿ks are stated at the lower of cc6t and esb"mated selling pri￿ less o)sts to complete and sell. Cost comprises of direct materials and. where applicable. dirert lat(￿r costs and those overheads that have been incurred in brnging the st(x*s to tsr present Ic£ab"on and condits"on. Items hdd for distribution at rKJ C￿ ncminal consderati)n are measured the bwer of re[￿￿ment cost and cc6L Cjsh and cash equivalents Cash and cash equivalents indude cash in hand, dewsits held at call wAth banks, other shcrt-tem liqu￿ investments with original m&urities of three months ￿ less. Trade creditor5 Trade creditors are obligations to pay for gc(#ts or serwces that have b￿n acquired in the oréinary course of operations from suppliers. Accounts payable are dassrfied as current liabilits.es if the Souety does not have an UfKonditiorsal righ¢ at the end of the reporting peTh)d, to defer setdement of the creditor for at least ￿e1Ve rTh)nths after the ￿porting date. If there is an uncondits'onal right to defer setdement at least twelve fTK)nts after the rewrts.ng date. they are presented as n0n-cu￿ent liabilities. Fund structure Unrestrirted funds are availat4e for at dimts.ffi i)f the ExecLthe Committee in fvrtherance of their charitsble objeth.ves vnless the have been (jes￿nated for other purwses. EEsignated fund5 ccffipiise fuThls which have been set aside at the diSCret￿n of the Executive Committee for specific wrpose& The and use5 of the t*signated funds are set ¢xrt in the notes to the financial statements. Leases Page 22 Abbeyfield Perth Society Limited Notes to the Financial Statements for the Year Ended 30 September 2025 Rentals payable under OF￿ating leases, including any lease incentThies received, are thrged to expenditure on a straight line basis over the term of the relevant lease. Pension5 and other post retirement obllgati¢)n$ The Society operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the Sc(iety has no legal or constructive obligab.on to pay further contributions even if the fund does not hold Sufficient a55ets to pay all employees the benefits relating to employee service in the current and prior Feriods. Contributions to defined contribution plans are recognised in the Statement of Financlal Artlvitles when they are due. If contribution payments exceed the contribub.on due for service, the excess is recognised as a prepayment, Flnandal Instruments Clasglffcatlon The Society has elected to apply the provlslons of Sethon 11 'Baslc Flnanclal Instruments, and Secdon 12 '0ther Financial Instruments Issues, of FR5102 to all of its financial instruments. Financlal Instruments a￿ recogni5ed in the Sc(lety's balar￿e sheet when the Soclety becomes party to the contrattual provisions of the instrument. Recoqnibon andnwsurement Basic flnancial assets, which include debtors and cash and bank balan￿5, are measured at transaction price including transaction costs. Basic financial liablliJes, induding creditors and other loans a￿ initially recoJni5ed at transattion prke unless the arrangement constitutes a financing transaction, where the debt Instrument is measured at the piesent value of the future payments discount& at a market rate of interest. Financial liabilities ckssified as payable withln one year a￿ not amortlsed. Debt instruments are subsequently carrled at amortised cost, uslng the effettNe interest rate rnethr￿. Financial liabilitie5 are derecognlsed when the *