CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Dirèctors, R•port and Unauditèd Financial Statsmènts for the yèar èndèd 31 August 2025 Company No. SC047152 Charity No. SC010357
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Dir•¢tors' Report and Financial StstÈm¢nts for the year *nded 31 August 2025 Cont•nts Pages Direclois, Report Independent Examiner's Report lo the Directors Statement of Financial Activities Balan Sheet Notes to the Financial Statements 7-10 Directo Mrs. S Gillèspiè (Chairl Professor M Norval Mrs. J M Munro Dr Janet E A Gray Rev H J R Alexander Secretary Mr. Douglas Brotherston Treasurer D Brotherston CA The Stables Studio, Hopetoun House, South Queensferry. EH30 9SL Bankeys Royal Bank of Scotland plc 142-144 Piin¢es Street Edinburgh EH2 4EQ Independent Examiner Caroline Bald BA CA CTA 71 East Craigs Rigg Edinburgh EH12 8JA Investment Managers Brewin Dolphin Sixth Floor Atria One 144 Morrison Street Edinburgh EH3 8EX Registered Office The Stables Studio, HopetOLJn House, South Queensferry EH30 9SL Company Registered in Scotland No SC047152 Scottish Charity No. SC010357
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Dir•¢tors' Report and Financial StstÈm¢nts for the year *nded 31 August 2025 Directo9 Report The Directors who are Trustees for the purposes of tharily law have pleasure in Submitting Iheii report and financial statèmÉnts for the yÈar èndèd 31 August 2025. The 8cwunls have been prepared in accoidance with the accounting policies sel out in note 1 to the accounts and comply with the Charities and Trustee Investment (Scotlandl Aet 2005, thè Charrfties Accounts Iscotlandl Regulations 2006 las arnendedl, the provisions of the charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndaid applicable In the UK and Republic of Ireland IFRS 1021. leffective 1 January 20191 and provisions of the Companies Aet 2008 applicable to small companies. Given the size of the entity it is the opinion of the directors that the information given below is sufficient to comply wrth the Statement of Recomrnended Practice. Objectives and Activities The Directors administer the Cranley Trust which was established in 1985 with the objectives offering support lo the "corllbined school" of St Denis and Granley and lo pupi15 or former pupils of the combined school or its ¢onsliluenl parts foi eduoalional purposes. The Direotois consider applications ft>r financial assistance from qualifying persons who wish to pursue studies or research or academic courses for which inadequate funds are available from other sources. Each application is considered on its own merit and at the sole discretion of the Directors as TIu51ees. Achievements and Perforniance The results for the year are shown in the attached staternent of financial activities and the Directors recommend that the deficit is deducted from the reserves. Grants were awarded to thirteen individuals. Finan¢ial Review During the year ended 31 August 2025 the charitable cornpany recorded nel expenditure before gain5111055esl on investment assets of £57,72812024'. net expenditure £60,263) and closed the year with net funds amounting to £162,77612024.' £212,403). The accounts have been prepared in accordance with current statutory requirements and the charitable company's Memorandum and Articles of Association. The Directors confirm on a fund by fund basis that the charitable company's 8s5els are available and adequate lo fullil the obligations of the chaiilable ¢ompany. R¢$èrves Policy The Directors considèr il good practice to maintsin a resèrve of funds Èquivalènt lo at least one yèar's operating expenses. This policy is designed to enable the charitable company to operate for a period of a year should no further incorne be received. The Directors are actively seeking ways to disburse the surplus reserves as grants. Any surplu5 cash is reinvested by Brewin Dolphin. Investment Policy The Directors have instructed the charitable cornpany's stockbrokers to manage its portfolio on a "balanced incorne basis" that is lo say the funds are invested in predorninanlly lowei risk securities selected for income. balanced with some potential for growth of income and capital. The Directors are of the opinion that this policy has been adhed to and that the year's results demonstrate that its objectives have been met. During the year under review the company's investments were managed by Brewin Dolphin and the Truslees hold review meetings with them.
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Dir•¢tors' Report and Financial StstÈm¢nts for the year *nded 31 August 2025 Grant Making Policy The charrtable company invites applications from qualifying persons who require financial support to pursue educational courses. Applioalions. which are submitted on a stsndaid foim. ale considered on their own merrt. A report on completion of their studies is a condition of any grant awarded. Future Plans The Directors are of the opinion they have the powers to provide grants for educational purposes not only to former pupils of St Denis and Cranley School but also children and grandchildren of former pupils. This policy is now being pursued. The Directors and Trustees have considered the irnpact of the current cost of living crisis together with inflationary pies5ure5 011 the charitable company and believe that il 15 resilient lo the piesenl impact and has sufficient reserves to continue its activities for the foreseeable future. Taxatlon The charitable company is a charity and is recognised as such by HM Revenue & Customs for taxation purposes. As a result, there is no liability to taxation on any of the income. Structure, Govèmancè and Managèmont The charitable company which is limited by guarantee and has no share capital was established on 31 December 1969. The management of the company is the responsibility of the Directors who are appointed in accordance with the Mernorandum and Articles of Association. The directors generalty meet three time5 a year to consider applications for grants whilst also eondueting any other business matters. All routine management de¢isions and administrats'on is undertaken by the Treasurer. Potential new Directors are pioposéd by existing committeè members to ensure that a broad spéetium of commercial and social expertise is avaiLable to the Committee. Each Director is provided with information regarding the charitable company's aims and objectives, previous accounts and minutes of rneelings. The Directors are provided with updated inforrnalion regarding new legislation and attend training events in order that they arè aware of their responsibilities. The Directors have considered the major risks to which the charitable company is exposed and taken the necessary steps to mitigate those risks. Dlr&ctoYs and thelr Int8r8sts The directors in office during the year are as shown on page 1. All of the directors are members of the charitable company and guarantee to contribute £1 in the event of a winding up. Report This report has been prepared in a¢¢ordance with the special provisions of Part 15 of the Companies Act 20 relating to small entities. Approved for issuÉ by thè directors on 22 April 2026 and signed on thèir bshalf by". Sheena Gillsepie sig.ned on 2110412026, 18.54.'53 BST Mrs S Gillespi&
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Indèpèndènt Examine1$ Report to th• Direetors of Cranley School Limited for the yèar end&d 31 August 2025 I report on the accounts of Cranley School Limited lor the year ended 31 AugLJSt 2Q25, which comprise the Statement of Financial Activities, the Balan Sheet and the related notes. Respactlvè rosponslbilitl8s of Dlroctors and &xamln8r The charitable company's Directors (who are also the Trustees of the charitable company for the purposes of Charity lawl are responsible lor the preparation of the accounts in accordance with the terms of the Charities and TIu51ee5 Inve51menl IScoll8ndl Act 2005 8nd the Charities Accounts Iswllandl Regulations 2(YJ6 las amended). The Charitable company Dire¢tors eonsider that the audit requirement of Regulation 10111181 to 1¢) of the Regulations does not apply. It is my responsibility to examine the accounts as required under section 4411llcl of the Act and to state whether particular matters have come to my attention. Basls of Indèpendent 8xamln•rfs stat8m8nt My examination is carried out in accordance wrth Regulalion 11 of Ihe Charities Accounts (Scotlandl Regulations 2006 las amended). An examination includes a review of the aOuntIng records kept by the charrtable company nd a comparison ol the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in thè 3eCOLJnts. and seeks èxplanations from the Directors concerning any such matters. The procedures Ljndertaken do not provide all the evidence that would be required in an aLJdit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examinerfs statement In the course of my examination, no Matter has corne to my attention.. which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting CordS in accordance with Section 4411llal of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations to prepare accounts which accord with the accounting records and compty with Regulation 8 of the 2006 Accounts Regulations have not been rnel, 2. to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts lo be leached. Caroline Bald ned on 2110412026, 18.'58'.19 BST Caro inè Bald BA CA CTA 71 East Craigs Rigg Edinburgh EH12 8JA 22 April 2026
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Stat•m•nt of Flnanclal Actlvltlos land Income and Expenditure Accounti for th& year èndèd 31 August 202S 2025 2024 Notes In¢ome from= Investments and interest received Miscellaneous income 4,752 5,S10 100 Expenditure on.. Investment management costs Charitable activities 1,592 60,888 1,991 63.982 Total expenditu 62,480 65,973 Net oxpenditurè befoyg otr gains and losses 157,7281 160,263) Net Ilos$e$Vgain$ on investment as$èts 8.101 21.164 Net lexpenditureifincome and movement in funds 149,6271 139,099} R•conclllatlon of funds: Total funds at 1 September 2024 212,403 251,502 Totsl funds al 1 Seplerllber 2025 162,776 212.403 All activities of the charitable cornpany relate to continuing operations. The charitable cornpany has no recognised gains or losses other than those included above. The statement of financial activities also complies with the requirements for an income and expenditure ac£ounl under the Companies Act. The notes on pages 7 to 10 form part of these financial statement5.
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Balancè Shèèt as at 31st August 2025 2025 2024 Notes Fixed assets Investments 159,602 210.835 Current assets Cash at bank and in hand 4,916 6,840 Current liabilities Creditors due within one year 11,7421 15,2721 N•t curr•nt assèts 3,174 1,568 N•t ass•ts 162,776 212,403 Represented by.. Unrestricted funds 162,776 212,403 The charitable company is entitled to exemption from audit under Section 477 of the Cornpanies Act 200e (the A¢tl for thè yèar endèd 31 August 2024. The Members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 ALJgust 2024 in accordance with Section 476 of the Companies Aet 2008. The Oirectors acknowledge their responsibilities for.. lal ensuring that the charitable company keeps proper accounting records which comply with Sections 386 ofthe Cornpanies Act 2006. and Ibl foi preparing financial 51alemenls which give a Iiue and fair view of the slate of affairs of the company as at the end of the financial year and ol its deficit for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo financial slalemenls so far as applicable to the chaiitable company. These accounts have been ppared in accordance with the provisions applicable to eompanies subject to small companies, regime. The financial $tatemenls were approved by the Board of Directors on 22 April 2026 and weie signed on its behalf Sheena Gillsepie Tred OTTr.2110412026,..1&,N,.&3.BST Gillespie The notes on page 7 to 10 form part of these financial slatements.
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 l. Aecountlng pollcles Legal Status Cranley School Limited is a eompany limited by guarantee registered in Scotland, registration number SC047152, and has no share capital. The address of the charitable company's registered office is The Stables Studio, Hopetoun House, South Queensferry, We51 Lolhian, EH30 9SL. Cranley School Limited meets the definition of a public benefit entity under FRS 102. These financial staternents are presented in pounds sterling IG8PI as that is the currency in which the charitable company's Iransaclion5 ale denominated. Monetary amounts in these financial staternents are rounded lo the nearest £. Ba¥1$ of pparatION The a¢oounls have been prepared in a¢¢ordan¢e with the charib.es and Trustee Invesltnenl IS¢ollandl A¢t 2005, the Charities Accounts Iscotlandl Regulations 2006 las amended), the provisions of the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended PractiTr applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Rèpublic of Ireland IFRS 1021, leffe¢tive 1 January 20191. FRS 102 '1he Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the provisions of the Companies Act 2006 applicable to small companies. The company has taken advantage of the provisions in the SORP not to prepare a Statement of Cash Flows. The accounts have been prepared under the historical cost convention, modified to include the revaluation of ¢ertain finanryal instruments al fair value. The piincipal a¢¢ounling poli¢ies ale set out below. Going concern The charitable company had year end net assets amounting to £162,776 including cash at bank or on deposit amounting to £4.916 and other liquid investments permith.ng the TrustÈes lo form the opinion that the chaiitable company will continLJe its activities for the foreseeable future. Invastmants Investments in se¢urilies are measured initially al ¢ost and subsequently al fair value at the balance Sheet date. Fair value is taken as the mid-market value of the investment reported by the investment managers at the balance sheet date. Gains and losses on disposal and revaluation of investrnents are charged or credited lo the Slalernenl of Financial Aclivilie5 ITI the period lo which they relate. Investment income Income from investrnenls is included in the Slalement of Financial Activities in the period in which rf( is receivable. Grants Grants payable are charged to the Statement of Financial Activities when the application is approved and a valid expectation created with the recipient that the grant will be paid.
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Notes to the financial $tat*m&nts for the year endèd 31 August 2025 leontinuedl Acwuniing policles IcoThiinuedl Anatysis of expenditure l expendituie is included on an accruals b851s and is iecognised when there is a leg81 or conslruclive obligation to p8y for expenditure. here possible expenditure Is allocated directly lo the function to which it relate5. charitable expenditure. oosl of raising funds or governance costs. Where this is not possible, it is apportioned among the functions to which it relates. Charitable activities expenditure comprises these costs incurred by the charitable company in delivery of its activities and ServIS to benefICries. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the chaiilable company and include accounlan¢y fees and oosls linked lo the slialegic rnanagemenl of the charitable charity. C8$h at bank and in hand C8$h and ¢ash eqUalents indude ¢a$h in hand. depo$ils held al call with banks and other short-term liquid investments with original maturities of three months or less. cditorS Creditors and provisions are recognised when the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliabty. Creditors and provisions are normally recognised at their settlement amount. Financial assets and liabilities Financial instruments ale re¢ognised in the balance sheet when the charitable company be¢omes a paty to the cont13Ctual provisions of the instrumènt. Financial Instrumènts are initially measured * transaction pri¢e. Subsequent to initial recognilion, they are accounted for as set out below. Financial instruments are dassified as either'basic, or 'other' in accordance with Chapter 11 of FRS 102. At the end of each reporting period, basic financial instruments are measured at amortised cost using the effective interest method. Financial assets are derecognised when the contractual rights to the cash flows from the asset expire, or when the charrtable company has transferred substantially all the risks and rewards of ownership. Financial Iiabilrtie5 arè derÈ¢ognised only on¢è thè liability has beèn èxtinguishèd through dischargè, ¢ancèllatitsn or èxpiry. Funds structurn General funds arè unrestrieted to be used to ¢arry out thè re activities the Charitable Company. Valuo Add•d Tax The charitable company is not registered forvalue added tax and accordingly expenditure includes value added tax where applicable.
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Notes to the financial $tat*m&nts for the year endèd 31 August 2025 leontinuedl 2. Critical judgements and estimates In application of the company s accounting policies, the directors are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual resutt5 may differ from these eslimales. The estimates and underfying assurnplions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both cutrenl and future periods. There were no signrficant estimates and assumption5 made in preparing these financial statewents. The directors are satisfied that accounting policies are appropriate and applied consistently. 3. Staff Costs and Dlreetors rèmunèratlon and •xpens&s There were no employees dLJring the current or prior year. The Directors are considered to be the onty key management personnel of the charitable company. No Director received any remLJneration nor reimbursement of expenses incurred12024.' nill. 4. Expenditure on ¢haritabl¢ a¢tiviti&s 2025 2024 Grants awaided Support costs.. Management fee Bank charges. slalionery. postage and sundry costs Governance costs". Independent examination Cornpanies House fee and Information Cornmissioner registration 57,150 60.281 3,000 37 3,000 680 21 S52 40 60,888 63,982 During the year Menty three grants12024'.231 totaling £57,15012024.' £60,281) were awarded to individuals.
CRANLEY SCHOOL LIMITED la company limited by guarantee also known as The Cranley Trust) Company No. SC047152 Notes to the financial $tat*m&nts for the year endèd 31 August 2025 leontinuedl 5. Investsnents 2025 2024 Quotad UK Inv•stmènts Market value at 1 September 2024 Additions in year Disposals at opening market valLJe (preedS £87,068,. loss £1,351) Unrealised gainslllossesl 210,835 246,441 7,734 60.593 168,4191 1115,1751 9,452 18,976 159,602 210,835 6. Creditors 2025 2024 Acuuals 1,742 5,272 7. Financial assets and liabilities 2025 2024 Financial assets at fair value 159,602 210.835 Fin8noi81 a55els al f811 value cornpiise listed inve51rnents. 8. Related partie$ There were no related party transactions during the year that require to be disclosed12024-nonel. 10