OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

Company number: SC197327 Charity number: SC012302

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

CONTENTS Page
Directors’ Strategic Report 2
Independent Auditor’s Report 15
Statement of Financial Activities 19
Balance Sheet 21
Statement of Cash Flows 22
Notes to the Financial Statements 23

1

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND

(COMPANY LIMITED BY GUARANTEE)

DIRECTORS’ STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Directors present their annual Directors’ Strategic Report and the audited financial statements of the charity for the year ended 31 December 2025, which are prepared in accordance with the requirements for a Directors’ report and accounts for Companies Act purposes and with the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013 .

SCIAF’S OBJECTIVES AND ACTIVITIES

Our Mission

We want a just world, free of poverty, where we flourish and live in harmony with each other and all creation. Compelled by Christ’s love, we work with those in the world's poorest places to end poverty, protect our common home, and help people recover from disaster. We inspire loving action in the Scottish Catholic community to sustain our work.

Our Approach

We are Compelled by Love

SCIAF is the official relief and development agency of the Catholic Church in Scotland. Compelled by Christ’s love, we help people in the world’s poorest places to lift themselves out of poverty, work together to protect our common home, and help people recover from disaster. For six decades we've reached out to our global neighbours in need, irrespective of their race, religion or background, sustained by the generosity and love of Catholics in Scotland. We work in partnership with local and church organisations, supporting communities across Africa, Asia and Latin America, to bring about lasting change. We put pressure on governments to care for the planet and create a fairer, more peaceful world.

We Stand Side by Side with Communities

As part of Caritas, a global Church network with a presence in more than 160 countries, we’re already there when emergencies strike, and will be there long after others have left. Together with local communities we develop local solutions that will make a real and lasting difference. We help people provide for themselves and their families, start businesses, and learn new skills, creating hope for the future. We stand side by side with communities to build peace and promote justice, so they have power over their own lives.

We are Present in the Most Difficult Places

We are building God’s Kingdom here on earth so that we can all live in His love and justice, free from fear and persecution. We work with people in the hardest circumstances, so they can overcome their daily struggles and the structures of injustice that make and keep them poor. We actively serve those forced to the fringes of society and deprived of opportunity. For decades we’ve walked with people whose entire livelihood can wither in a drought or be washed away in a flood. We work to prevent disasters and, when disaster does strike, we respond immediately by feeding the hungry, sheltering the homeless and rebuilding lives and communities in the long term. We know that the poorest suffer the most: we will not forsake them.

We are a Global Community

The SCIAF family is a global community. We believe that a just and green world is possible, if we all come together in love and kindness. We seek to inspire people to live their faith and build a world where everyone is equal and free from poverty.

Strategies

We are driven by our values. We believe that every human being is created with inherent, inalienable dignity. We always seek to empower people by giving them a hand up, not a hand out. We stand in solidarity with our poorest sisters and brothers through thick and thin and provide hope to those we work with that a better world is possible – one in which they can survive and thrive.

2

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Grants Policy

Development grants are made to approved Partners in our priority countries, for projects developed with input from SCIAF which fall within three of the strategic objectives in our Strategic Focus 2021 – 2025: Peaceful and Just Communities; Health and Education; and Sustainable Resilient Livelihoods and a Flourishing Environment for All. Additional grants are made in response to emergencies that are brought to our attention by the Caritas network or one of our existing partners.

STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The financial statements contained herein comply with the Charities and Trustee Investment (Scotland) Act 2005, the Companies Act 2006 and the Memorandum and Articles of Association. They also comply with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)” (effective 1 January 2019) (Charities SORP (FRS102)).

The Directors are responsible for preparing the Directors’ Strategic Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its income and expenditure for that period.

In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Directors confirm that:

3

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Approved by the Directors and signed on their behalf by:

Rt. Rev. Brian McGee President DATE 19 June 2026

4

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

ACTIVITIES AND ACHIEVEMENTS

1) Delivering Development and Humanitarian Programmes

In 2025, we successfully concluded the implementation of our 2021-2025 Strategic Plan. Our overseas development and humanitarian programmes continued to be implemented through our local partner organisations in line with the Caritas Internationalis Partnership Principles: functioning as a multi-level network of aid and development support, serving immediate needs and tackling the root causes of poverty.

In 2025, we implemented 91 projects across 17 countries. This covers our 8 focus countries (Cambodia, Colombia, DRC and Rwanda, Ethiopia, Malawi, South Sudan, and Zambia) as well as a further 9 countries which received emergency aid support.

We reached 176,872 direct participants and more than four times that amount in indirect participants (808,511). 61% of direct participants were female.

This work was funded through SCIAF’s own resources as well as institutional funds (IF). In 2025, SCIAF brought in £3.76 million in IF from 15 grants, primarily supporting development, emergency response, climate justice and research projects. A small proportion also contributed to public engagement and other areas of work.

Throughout 2025, we also supported capacity strengthening between our partners, in line with our commitments to localisation. We completed extensive minimum standards checks throughout 2025 and provided bespoke capacity support in areas such as safeguarding, gender, disability inclusion, agroecology, climate change, and leadership. The development of advocacy capacity amongst our partners and partnerships with them on joint initiatives continued to be a significant area. For example, we supported our partners in Colombia and Rwanda to prepare for, and actively engage in, the United Nations Climate Change Conference (UNFCCC) COP30 in Brazil. Through these efforts, SCIAF played a key role in empowering partners to strengthen their advocacy and amplify their voices on critical global issues.

Further summaries, detailed by Strategic Objective, are provided below:

Strategic Objective 1: A Just and Green World

1A. Peaceful and Just Communities: Programming in this area reached 8,923 direct participants, and 454,314 indirect participants, reflecting the strong advocacy focus of our peacebuilding work which indirectly benefits large portions of conflict-affected societies. Projects were implemented in Colombia, DRC, Ethiopia, Malawi, Nigeria, Rwanda, South Sudan, and Togo.

1B. Sustainable, Resilient Livelihoods and a Flourishing Environment for All: The majority of our development programming falls into this category, which covers all of our agroecology and sustainable farming work, as well as our technical and vocational training (TEVET) and village savings and loans (VSL) work. In 2025 we reached 71,669 direct participants, and 183,881 indirect participants, with projects in Cambodia, Colombia, DRC, Ethiopia, Malawi, Rwanda, South Sudan, Uganda, and Zambia. This includes our large Climate Just Communities (CJC) Programme in Rwanda, which works in three districts of Rwanda to co-design responses to the lived experiences of climate change through community-led terrace construction, agroecological farming techniques, retrofitting of homes affected by climate change, rainwater harvesting, improved cookstoves, and many other actions that the communities themselves have identified.

Strategic Objective 2: Emergencies

SCIAF aims to respond to emergencies in our focus countries and major emergencies elsewhere when there is unmet need, we have the ability to respond, and funding is available. We do this through the Caritas Internationalis network. SCIAF responded to a range of emergencies in 2025 including conflictrelated emergencies, food insecurity, earthquakes, floods and droughts. With a mixture of our own, and Scottish Government funds, we supported emergency responses in Cambodia, Colombia, DRC, Ethiopia, Lebanon, Malawi, Myanmar, the Occupied Palestinian Territories, South Sudan, Sudan, Syria,

5

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Ukraine, and Zambia. We supported 96,280 direct participants with humanitarian support, and reached a further 170,318 indirectly.

2) Educating for Change

Our development education in Scotland focuses on increasing supporters’ understanding of Catholic Social Teaching, the model of Integral Human Development (IHD), and the realities of life in the countries we work in. Our objective is to inspire people in Scotland to understand global issues and work to build a better world through prayer, campaigning and the giving of time and money to help others.

Schools

Throughout 2025, a Jubilee Year, we carried out over 130 school visits across Scotland, including in Elgin, Inverness, Aberdeen, Dumfries, and Dundee, as well as extensive engagement across the Central Belt. Additional schools were reached through conferences and diocesan gatherings. Many of these visits included whole-day inputs speaking to hundreds of pupils.

To mark the Jubilee Year, we developed new educational materials around the theme “Pilgrims of Hope”, integrating these into school resources and our WEE BOX appeal at Lent. Throughout the year, primary and secondary schools engaged with Jubilee themes, learning about global solidarity while supporting fundraising efforts.

A significant development was the publication of “The Wisdom of the River”, a children’s book introducing Integral Human Development in an accessible and engaging format. Accompanied by a schools’ resource pack, it has become a valuable tool for teachers and families.

Alongside this, we launched two new classroom resources – “Amigos del Planeta” and “Digging Deeper” – rooted in SCIAF’s overseas programmes and aligned with Curriculum for Excellence outcomes. These materials help pupils explore global justice issues in practical and age-appropriate ways.

We continued to strengthen our partnerships with the Scottish Catholic Education Service, diocesan advisers, and our Education Advisory Group to maximise our reach in Catholic schools. We deepened engagement in the Laudato Si’ Schools Scotland initiative, including expanding career-long professional learning for coordinators.

Our 60th anniversary created further opportunities for engagement. We worked with two primary schools and artist Mark Armstrong on a collaborative project culminating in a commemorative artwork. Schools also participated in anniversary Masses and parliamentary events, strengthening young people’s connection to SCIAF’s mission.

Parishes

SCIAF continued to work with parish communities through talks, presentations and workshops delivered by staff and volunteers, particularly during the season of Lent. We produced resources to deepen understanding of global issues, including a Stations of the Cross guide focused on SCIAF’s work in Colombia and additional prayer materials for parish use. We delivered over 120 inputs ranging from Lent talks to film screenings. We achieved reach across Scotland thanks to 91 parish contacts, who profile our work in their local congregations.

This year, we held November Remembrance Masses and December Carol Concerts in Edinburgh and Glasgow, and deepened our engagement with Scottish seminarians in both Salamanca and through placements in SCIAF’s office.

Wider Community

In partnership with the Bishops’ Conference of Scotland’s Care for Creation Office, we co-hosted our annual Season of Creation event and marked COP30 with a Mass and public event linking Scottish supporters with global climate negotiations.

6

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Our 60th Anniversary Mass brought together schools, parishes and supporters from across Scotland. A Parliamentary Reception and the presentation of a Malawian nativity scene to the Scottish Parliament highlighted six decades of impact.

We also launched the first SCIAF Shield football tournament, bringing together 16 teams in a new community-building initiative.

Engagement with young adults grew during 2025, with regular input to parish and diocesan groups across Scotland, strengthening relationships with the next generation of supporters.

3) Campaigning for a Better World

In 2025, SCIAF continued to advocate for justice, peace and dignity worldwide, guided by Catholic Social Teaching and Integral Human Development. Through national and international engagement, we sought to influence policy, shape public discourse and amplify the voices of communities affected by poverty and climate injustice.

Debt Justice

As part of the global Caritas Jubilee campaign, SCIAF called for the cancellation of unjust debts, the establishment of legal mechanisms to ensure private lenders participate in debt relief, and reforms to prevent future crises. We mobilised supporters through petitions and educational resources, and copublished an expert policy paper on the subject alongside CAFOD and Caritas Internationalis, while engaging UK and Scottish decision-makers. The campaign secured cross-party support in Scotland. Following engagement by SCIAF and partners, the Scottish Government publicly endorsed the Jubilee debt campaign, strengthening political momentum for reform.

Loss and Damage

Throughout 2025, SCIAF further strengthened its global reputation on the issue of Loss and Damage. Ahead of COP30, we worked with Colombian partners to develop policy recommendations to the Fund for Responding to Loss and Damage (FRLD) and worked closely with partners around the world to follow and seek to influence the decisions taken by the FRLD at its quarterly board meetings. We joined the steering group of the “Fill the Fund” campaign and promoted this throughout the year, calling for more countries to invest in action to tackle Loss and Damage. At COP30 in Brazil, SCIAF engaged in negotiations alongside Caritas partners worldwide, provided technical support, organised side events, and secured speaking opportunities for global partners and Scottish representatives. Media engagement extended our reach in Scotland and across the world.

Circular Economy

SCIAF contributed to the development of the Scottish Government’s Circular Economy strategy, particularly its international dimensions. We secured a commitment for international consultation, enabling partners from Asia, Africa and Latin America to engage directly with Scottish policymakers on issues such as critical minerals and waste exports. This strategy, if effective, can help make sure that the consequences of inefficient, wasteful overconsumption in Scotland do not have a direct negative consequence on the economies and societies in the Global South.

Peace and Human Rights

SCIAF maintained a consistent public voice on global conflicts, including Gaza and the DRC, advocating for peace and the protection of human dignity. Working closely with the Bishops’ Conference of Scotland, Justice & Peace Scotland and other similar organisations, we sought to influence the public discourse around these conflicts and apply pressure on decision-makers to invest time and resources in the pursuit of peaceful solutions.

Political and Public Engagement

Throughout the year, SCIAF engaged constructively with MSPs and MPs across parties through briefings, parliamentary engagement, and events. Our 60th anniversary parliamentary reception provided a platform to reflect on SCIAF’s impact and future role. In December 2025, SCIAF presented a handcrafted Malawian nativity set to the Scottish Parliament, symbolising solidarity with global communities and becoming part of Parliament’s annual Advent display. Through maintaining a high

7

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

profile in civil life in Scotland and following public policy in the areas of international development, climate change and peace, SCIAF is able to influence major policy decisions which help achieve our strategic goals around the world.

FINANCIAL REVIEW

Results for the Year

The result for the year before gains on assets was net expenditure of £51,000 (2024: £218,000).

Principal Funding Sources

The charity’s main source of income is voluntary income from individuals. Donations and legacy income totalled £4,249,000 (2024: £4,143,000). Lenten Donations and legacies were higher than last year. Restricted donations (given for a particular purpose or appeal) in the year totalled £542,000 (2024: £711,000). The largest appeal was for a continuation of humanitarian assistance in Israel, the Occupied Palestinian Territories, and Lebanon.

SCIAF received £3,759,000 (2024: £5,056,000) of institutional funding for overseas relief and development. Our largest institutional donors were the Scottish Government, Jersey Overseas Aid and Guernsey Overseas Aid and Development Commission.

Total income of £8,102,000 (2024: £9,310,000) is less than last year’s exceptionally high total, but is still higher than most previous income levels.

Principal Expenditure

The charity’s main expenditure is on international programmes. Total expenditure was £8,153,000 (2024: £9,528,000), with international programmes making up £6,458,000 (2024: £7,782,000).

Reserves Policy

The Board revised the Reserves Policy in March 2024. The policy is concerned with Free Reserves, which are defined as Unrestricted Reserves less the net value of Fixed Assets, since these are the reserves available to meet the general obligations and needs of the charity. Free Reserves excludes the value of the fixed assets and the unrealised increase in value of our investments.

In the event of a sudden fall in income, SCIAF requires a certain amount of reserves to allow for income to recover or, failing that, for a controlled reduction in expenditure, such as salaries, rent, grants, etc. over the following two to three years. As it is the income budget where this shock is felt, this is calculated as 50% of the subsequent year’s fundraising income budget. This amount does not need to be in liquid assets.

Operational liquidity for our work is calculated by examining the budget for the subsequent year and calculating the peak net cumulative outflow of cash at a month end.

The reserves target based on this calculation is therefore £2,420,000 (2024: £2,361,000), which is £14,000 lower (2024: £4,000 lower) than the General Fund of £2,434,000. The reduction in the reserves target continues to reflects the steps taken to reduce fundraising income targets so that they better reflect current income expectations. Cashflow requirements have also reduced as a result of careful management of cash receipts and outflows. The financial position remains challenging but our medium-term plan indicates that our reserves will remain around the targeted level.

Financial Risk

SCIAF’s operations expose it to a variety of financial risks that include the effects of changes in credit risk, liquidity risk, foreign exchange risk and interest rate risk. SCIAF does not use derivative financial instruments to manage interest rate or foreign exchange costs and no hedge accounting is applied.

8

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Risk Management

SCIAF’s risk register identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks, and the measures taken to manage them. The Directors review this risk register at least annually at their meetings. The aim of this review is to ensure Directors are satisfied that the main risks have been identified, and systems are in place, or arrangements are in hand, to mitigate all significant risks. SCIAF’s current key risks include: maintenance of our general fundraising income due to the demographics of our supporter base, the ability to generate institutional income in the context of cuts to international aid, the risk of failure or compromise of critical Information Technology systems, failure to prevent the misuse of personal data, and the risk to activities and the safety of staff resulting from high-risk environments overseas.

Qualifying third party indemnity provision for the Directors is in force during the year; as permitted by Company and Charity Law, SCIAF has purchased an insurance policy so that the Directors will not be financially liable for problems unless they have behaved culpably or recklessly.

Investment Policy

SCIAF’s investment policy was developed by the Board of Directors to enable SCIAF to maximise the potential income from funds held at any time, while minimising the risk of loss of value. Funds are split between interest-bearing current accounts, and medium-term stock exchange investments. The latter are managed for SCIAF by Liechtenstein General Trust. Investments are required to meet strict ethical guidelines, consistent with the work and beliefs of SCIAF . At the end of 2025, the funds invested had a market value of £2,233,000 (2024: £2,729,000) which is net of funds totalling £685,000 withdrawn during the year. Performance largely reflects that of the wider stock market for ethical funds of this nature.

The investment objective is to achieve a balanced return from income and capital growth over the long term. The Board compares the performance of the fund against a composite of the following indices: FTSE Government All Stocks Index (20%), FTSE All Share Index (30%), FTSE World excluding UK (30%), and ICE BoAML Non-Gifts Index (20%). Over the year, the portfolio underperformed against its benchmark by 3.6% and the portfolio return for the year to 31 December 2025 was 3.7%.

9

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

PARTNERS OVERSEAS

In 2025 SCIAF worked with and provided funding for the following partners:

South Sudan

Cambodia

Development & Partnership in Action Caritas Cambodia

Colombia Caritas Colombiana (SNPS) Siembra Pastoral Social, Diócesis de Quibdó Pastoral Social, Diócesis de Apartadó Pastoral Social, Diócesis de Istmina Fundación Buen Punto

Caritas South Sudan Mundri Relief & Development Association Sudan Evangelical Mission Catholic Organization for Development & Peace

Sudan CAFOD Sudan

Uganda Kasana Luwero Diocese

Democratic Republic of the Congo

Bureau Diócesain des Ouevres Médicales Commission Diocésaine Justice et Paix Bukavu Commission Diocésaine Justice et Paix Uvira Judicial Support Association for Victims of Violence Popoli Fratelli Centre Olame Xaverian Missionaries

Ethiopia CAFOD, SCIAF & Trócaire Working Together

Ukraine Caritas SPES

United Kingdom ABColombia Christian Blind Mission UK (for Rwanda) Survive Miva

United States of America Catholic Relief Services (for the Occupied Palestinian Territories)

Zambia

Israel and Occupied Palestinian Territories Caritas Jerusalem

Lebanon Caritas Lebanon

Malawi CADECOM Malawi CADECOM Mangochi Catholic Commission for Justice and Peace Malawi Trócaire Malawi

Caritas Livingstone Caritas Mongu Caritas Zambia Caritas Kabwe Caritas Solwezi Jesuit Centre for Theological Reflection Kasisi Agricultural Training Centre

International

Caritas Europa CIDSE Caritas Internationalis Caritas Africa

Nigeria

St Mary’s Pastoral Area, Amtawalam

Rwanda

Commission Diocésaine Justice et Paix Cyangugu Commission Diocésaine Justice et Paix Kigali Commission Diocésaine Justice et Paix Kabgayi Commission Episcopale Justice et Paix Rwanda Trócaire Rwanda

10

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

PLANS FOR THE FUTURE

In 2026, SCIAF will begin implementing its new 10-year organisational strategy, A Better World is Possible for All . This strategy is built around four interconnected goals:

  1. Ensuring people can survive and recover from humanitarian crises.

  2. Enabling people to thrive in just, green and peaceful communities with resilient livelihoods.

  3. Supporting people to flourish in sustainable communities grounded in climate and social justice.

  4. Strengthening SCIAF as a high-performing, values-led organisation driven by excellence and innovation.

Over the next three years, we will respond to global and Scottish challenges with renewed urgency. We will deepen our support for communities facing crisis and injustice, ensuring their voices shape decisions and their rights are upheld. Alongside this, we will continue investing in long-term development so that communities can build peaceful, just, and environmentally sustainable futures. Our advocacy will focus on restoring the UK aid budget to 0.7%, advancing climate justice, and championing peace.

Cuts to international development funding will have significant consequences. We will plan for long-term damage limitation while continuing to make the case for strong, principled aid spending. In a challenging economic and fundraising environment, we will strengthen existing partnerships, rebuild old ones, and form new connections to share learning and resources, coordinate action and deliver high-quality work.

We will maximise impact by drawing on our long-standing presence in seven countries and the expertise of our staff, partners, and the communities we serve. We will adopt approaches that help us achieve more with fewer resources, including cascading models and multiplier effects.

We will focus on maintaining staff capacity and strengthening fundraising from institutional donors and Scottish supporters. We will grow and diversify our income by inspiring greater generosity across Scotland, engaging traditional supporters while reaching out to young people, the Catholic diaspora, and those who are not regular Mass attenders. We will also deepen relationships with institutional donors to expand and diversify our funding base, and rigorously review expenditure to keep overheads low.

We recognise that transformative change requires placing the most vulnerable at the centre of our mission. We will embed gender equality, disability inclusion, and the meaningful participation of marginalised groups across all our work, ensuring everyone can contribute to society and enjoy equal rights and opportunities.

By consolidating our efforts, we will continue supporting the most vulnerable and strengthen our ability to raise funds and campaign for long-term, systemic change.

These commitments set the direction for our future.

11

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Scottish Catholic International Aid Fund (“SCIAF”) is a company limited by guarantee, incorporated in Scotland (registration number SC197327) on 18 June 1999 and is also a Scottish charity registered with the Office of the Scottish Charity Regulator (charity reference number SC012302). SCIAF is the official international aid and development agency of the Catholic Church in Scotland.

Organisational Structure

The Directors (who are also the Trustees) are responsible for the overall control of the charity. Those who served during the year and up to the date of this report are detailed below. The Directors give their time free of charge and receive no remuneration or other financial benefits. The Directors appoint three Committees of independent non-executive members. Each is chaired by a Director and has a remit as outlined below.

The Directors meet quarterly with the Senior Management Team and are responsible for overseeing the alignment of SCIAF’s vision, mission, and values with its operational activities. They approve organisational strategy, structure, corporate plans and budgets to ensure SCIAF is accountable and effective.

The Directors appoint the Chief Executive, to whom they delegate the day-to-day leadership and management of the organisation, and the implementation of plans. This includes the implementation, monitoring and evaluation of programmes, support for overseas partners, fundraising, education and advocacy.

Recruitment and Appointment of Directors

The existing Directors are responsible for the nomination of new Directors. In selecting new Directors, we seek to identify qualified and committed people. All Directors are appointed by the Bishops’ Conference of Scotland following selection and recommendation by the Board of Directors.

Induction and Training of Directors

Following appointment, new Directors are briefed by the Board and management. They are given a copy of the Memorandum and Articles of Association and introduced to SCIAF’s vision, mission, values, and its operational activities including annual work-plans and budgets.

Finance, Audit, Risk and Compliance Committee

The members of the committee are detailed below. The key responsibilities of the committee are to ensure that SCIAF operates within appropriate financial guidelines as set out in its Memorandum and Articles of Association, determined by current charity legislation and by the Board, and that SCIAF can meet its financial obligations.

Public Engagement Committee

The members of the committee are detailed below. The key responsibilities of the committee are to support, monitor and advise on SCIAF’s work in Scotland, its fundraising, and its relationships with, and accountability to, supporters.

Integral Human Development Committee

The members of the committee are detailed below. The key responsibilities of the committee are to support, monitor and advise on SCIAF’s international work, including policy and advocacy, contributing to the quality and effectiveness of what SCIAF does and its accountability to its partners, donors, and other stakeholders .

Pay Policy for Senior Staff

The Directors consider that the Board of Directors and the Senior Management Team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All Directors give their time free of charge and no Director received

12

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

remuneration in the year. Details of Directors’ expenses and any related party transactions are disclosed in Note 20 to the financial statements.

The pay of the Senior Management Team and all members of staff was agreed following a job evaluation and reward process undertaken in 2013. This was undertaken by external consultants where roles and remuneration were benchmarked against roles of equivalent size in the wider public and notfor-profit sectors. There are three points in the pay band structure for senior management, with the top point being the midpoint between the minimum and median of the benchmark. The remuneration for senior management was benchmarked in 2023, and has been reduced.

Related Parties

SCIAF is an agency of the Bishops’ Conference of Scotland, which has a controlling interest in SCIAF. The Bishops’ Conference has the power to appoint or remove the Directors of SCIAF.

13

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS

Company Name: Scottish Catholic International Aid Fund

Charity Registration Number: SC012302

Company Registration Number: SC197327 (Scotland)

Registered Office and Operational Address: 196 Clyde Street, Glasgow, G1 4JY

Website: www.sciaf.org.uk

OUR ADVISERS

Auditors: Wbg (Audit) Limited, 168 Bath Street, Glasgow G2 4TP

Solicitors: Burness Paull, 50 Lothian Road, Festival Square, Edinburgh, EH3 9WG

Investment Advisers: Liechtenstein General Trust, 1 George Street, Edinburgh, EH2; Flagstone, Clareville House, 26-27 Oxendon Street, London SW1Y 4EL

Bankers: Royal Bank of Scotland, 339 Byres Road, Glasgow, G12 8QP

KEY MANAGEMENT PERSONNEL

Board of Directors

Right Rev Brian McGee (President) Right Rev Joseph A. Toal (resigned 27 March 2025) Diane Burke (resigned 19 June 2025) Most Rev William Nolan Rev Canon Michael Hutson Lorraine McMillan Adrian Harkin (appointed 6 February 2025) Alison O’Connell Sean Murphy (appointed 26 March 2025) Maureen Rooney (appointed 6 February 2025)

Secretary

McSparran McCormick, Solicitors (resigned 30 January 2025) Mari Everett (appointed 30 January 2025)

Senior Management Team

Lorraine Currie, Chief Executive Mark Camburn, Director of Integral Human Development Ben Wilson, Director of Public Engagement Mari Everett, Director of Finance and Operations (appointed 1 November 2025)

Finance, Audit, Risk and Compliance Committee

Lorraine McMillan Rae Connolly (resigned 9 September 2025) Adrian Harkin (appointed 6 February 2025) Rosaleen Beattie (appointed 18 September 2025) Fiona Buchannan (appointed 18 September Graham Silcock (appointed 18 September 2025 2025) Mark Shields (resigned 9 September 2025)

Public Engagement Committee

Rev Canon Michael Hutson Lisa McGraith Marie Hendry Diane Burke (resigned 19 June 2025) Eric Grounds (resigned 10 March 2025) John Dornan (appointed 16 July 2025) Martin McElroy (appointed 16 July 2025)

Integral Human Development Committee

Alison O’Connell Musamba Mubanga Mo Hume Sr. Jane McCann (appointed 31 January 2025)

14

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Independent Auditor’s Report to the Members and Trustees of Scottish Catholic International Aid Fund for the Year Ended 31 December 2025

Opinion

We have audited the financial statements of Scottish Catholic International Aid Fund (the ‘charitable company’) for the year ended 31 December 2025 which comprise the Statement of Financial Activities (incorporating an Income & Expenditure Account), Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect of going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Financial Statements, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

15

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the directors’ responsibilities statement set out on page 3 & 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud 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 conducted 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 reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures response to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing the risks or material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations we considered the following;

16

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Based on our understanding of the charity and the sector we identified that the principal risks of noncompliance with laws and regulations related to, but were not limited to;

We considered the extent to which non-compliance might have a material impact on the financial statements. We also considered those laws and regulations which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006. We evaluated management and trustees’ incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls), and determined that the principal risks were related to;

Audit response to the risks identified:

Our procedures to respond to the risks identified included the following;

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditors-

responsibilities-for-the-audit. This description forms part of our auditor’s report.

17

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

168 Bath Street Glasgow G2,4TP Rory McCall BAcc, CA (Senior Statutory Auditor) Date: 19[th] June 2026 For and on behalf of Wbg (Audit) Limited, Statutory Auditor

Wbg (Audit) Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

18

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Income
Donations and legacies
Lenten donations
Other donations
Legacies
Total donations and legacy income
Income from charitable activities
Institutional funding – international programmes
1
Income from trading activities
Sale of goods & resources
Investment income – dividends and interest received
Total income
Expenditure
Total Expenditure on raising funds
2
Expenditure on charitable activities
International programmes
4a
Information & education
4b
Advocacy
4c
Total Charitable expenditure		 2025
2024
Unrestricted
Funds
Restricted
Funds
Total
Funds
Unrestricted
Funds
Restricted
Funds
Total
Funds
£’000
£’000
£’000
£’000
£’000
£’000
1,018
-
1,018
954
-
954
1,815
542
2,357
1,680
711
2,391
874
-
874
798
-
798
3,707
542
4,249
3,432
711
4,143
224
3,535
3,759
288
4,768
5,056
7
-
7
2
-
2
87
-
87
109
-
109
4,025
4,077
8,102
3,831
5,479
9,310
847
-
847
923
10
933
2,503
3,955
6,458
2,213
5,569
7,782
641
-
641
593
-
293
207
-
207
220
-
220
3,351
3,955
7,306
3,026
5,569
8,595

19

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Total expenditure
Net income (expenditure) for the year before
transfers and other gains and losses
Net gain on investments
Net income (expenditure)
Transfer between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
16		 4,198
3,955
8,153
3,949
5,579
9,528
(173)
122
(51)
(118)
(100)
(218)
132
-
132
49
-
49
(41)
122
81
(69)
(100)
(169)
-
-
-
-
-
-
(41)
122
81
(69)
(100)
(169)
3,228
490
3,718
3,297
590
3,887
3,187
612
3,799
3,228
490
3,718

The Statement of Financial Activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. The accompanying notes and accounting policies form part of the financial statements.

20

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET As at 31 December 2025

Note
Fixed Assets
Tangible assets
9
Investments
10
Current Assets
Stock
11
Debtors
12
Cash on deposit and on hand
Current liabilities:amounts falling due within one year
13
Net Current Assets
Provision for liabilities
14
Net Assets
Reserves
Unrestricted Reserves
16
Restricted Reserves
16
Investment Revaluation Reserve
16		 2025
2024
£’000
£’000
264
295
2,233
2,729
2,497
3,024
10
10
809
1,245
1,212
351
2,031
1,606
(689)
(872)
1,342
734
(40)
(40)
3,799
3,718
2,698
2,659
612
490
489
569
3,799
3,718

Approved and authorised for issue by the Board of Directors on 19[th] June 2026 and signed on its behalf by

Rt Rev Brian McGee (President) Director

The accompanying notes and accounting policies form part of the financial statements.

Company registration number: SC197327

21

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
Net cash released/(used) by operating activities
1
Cash flows from investing activities
Dividends and interest from investments
Purchase of property, plant and equipment
Purchase of investments
Decrease/(Increase) in investment cash deposits
Proceeds from sale of investments
Net cash released/ (used) by investing activities
Increase /(Decrease) in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting period
2		 2025
2024
£’000
£’000
155
(297)
87
109
(9)
(270)
(197)
(422)
280
(251)
545
605
690
(229)
861
(526)
351
877
1,212
351

1. Reconciliation of net movement in funds to net cash outflow from operating activities

Net movement in funds
Loss on disposal of fixed Asset
Depreciation charges
(Gain) on investment assets
Investment income
Decrease in stock
Decrease/(Increase) in debtors
Decrease/Increase in creditors
Net cash released by (used in) operating activities		 2025
2024
£’000
£’000
81
-
(169)
8
40
13
(132)
(49)
(87)
(109)
-
11
436
(422)
(183)
420
155
(297)

The accompanying notes and accounting policies form part of the financial statements

2. Analysis of cash and cash equivalents

. Analysis of cash and cash equivalents
Cash at bank and in hand 2025
2024
£’000
£’000
1,212
351
1,212
351

2A. Analysis of changes in net debt

2A. Analysis of changes in net debt
At 1 Jan
2025		 Cash-
flows		 At 31 Dec
2025
£’000 £’000
Cash at bank and in hand 351 861 1,212
351 861 1,212

22

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. Incoming Resources from Charitable Activities

Unrestricted Restricted 2025 Total 2024
Total
£’000 £’000 £’000 £’000
Government Grants
Foreign Commonwealth and Development Office
South Sudan – Aid Match 7 (6) 1 523
DR Congo – Aid Match - - - 39
Scottish Government
Malawi Loss & Damage - - - 225
Zambia Loss & Damage 1 (1) - 11
Humanitarian Emergency Fund 11 329 340 450
Biodiversity Grant 14 - 14 -
Circular Economy 4 - 4 -
Guernsey Overseas Aid Commission
Rwanda - 37 37 45
South Sudan SEM 6 24 30 -
Zambia 6 26 32 -
South Sudan CODEP - 54 54 -
States of Jersey
Ethiopia - - - 2
Malawi 24 221 245 226
Government Grants Total 73 684 757 1,521
Scottish Government Contracts 135 2,851 2,986 3,530
University of Glasgow 2 - 2 5
Cycling Scotland 14 - 14 -
Total 224 3,535 3,759 5,056

There are no unfulfilled conditions or other contingencies attaching to grants that have been recognised in income. Amounts reported as unrestricted income above represent the administration fee element of grants, all of which has been expended during the year. SCIAF has not benefitted from any government assistance other than the grants and contracts listed above, and the statutory tax reliefs for charities including Gift Aid and Business Rates Relief.

2. Expenditure on Raising Funds

re on Raising Funds
Fundraising appeals
Salaries and other staff costs
Travel
Professional fees
Office costs
Administration costs
Governance costs
Total cost of fundraising
Investment management		 Direct Costs
Support Costs
Total
2025
Total
2024
£’000
£’000
£’000
£’000
212
-
212
221
339
95
434
475
1
-
1
1
-
4
4
6
-
71
71
46
84
23
107
158
-
4
4
9
636
197
833
916
14
-
14
17
650
197
847
933

23

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

3. Grant Expenditure

The major recipients of grants (those over £50,000) were: -

Unrestricted Restricted Total Total
Funds Funds 2025 2024
£’000 £’000 £’000 £’000
AFRICA
Ethiopia
Joint office with CAFOD and
Trócaire – for distribution to
partners 240 6 246 276
Democratic Republic of Congo
Centre Olame 40 10 50 45
Malawi
Cadecom Mangochi 30 30 60 60
CCJP Malawi 41 19 60 61
National Cadecom 60 171 231 328
Trocaire Malawi 30 220 250 515
Rwanda
Justice et Paix, Kigali 1 34 35 51
Trocaire – Contract - 2,482 2,482 3,070
Christian Blind Mission – Contract - 208 208 181
South Sudan
Sudan Evangelical Mission 36 38 74 525
Caritas Yambio (CODEP) - 70 70 60
Mundri Relief & Development
Assoc (MRDA) 50 - 50 20
Zambia
Caritas Zambia 33 4 37 57
Caritas Kabwe - 90 90 48
Caritas Livingstone 16 97 113 198
ASIA
Cambodia
DPA 50 - 50 50
Israel & Occupied Palestinian Territories
Caritas Jerusalem - 150 150 -
Catholic Relief Services - 50 50 50
LATIN AMERICA
Colombia
Diocese of Quibdó 49 10 59 5
Caritas Colombiana (SNPS) 65 - 65 58

24

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND

(COMPANY LIMITED BY GUARANTEE)

3. Grant Expenditure (continued)

UKRAINE CRISIS
Caritas SPES
Other grants less than £50,000
paid in the year
Total Grant Expenditure
Represented by:
International development grants
Advocacy grants		 -
-
-
73
428
265
766
647
1,169
3,954
5,123
6,378
1,160
3,954
5,114
6,370
9
-
9
8
1,169
3,954
5,123
6,378

Grant expenditure represents grants paid or approved to partner organisations responding to a wide range of humanitarian needs in the communities in which they work.

Restricted grants for UK FCDO Aid Match South Sudan which finished on 31 March 2025 were disbursed in previous years.

4. Costs of Charitable Activities

Expenditure recorded in the Statement of Financial Activities includes both the direct costs of carrying out activities and the costs of supporting these activities.

Support Costs are allocated between the various expenditure categories in proportion to the salary cost of staff directly involved in delivering those activities. The following provides a breakdown of costs:

International programmes (4a)
Information and education (4b)
Advocacy (4c)		 Direct
Costs
Support
Costs
Total
2025
Total
2024
£’000
£’000
£’000
£’000
6,040
418
6,458
7,782
447
194
641
593
147
60
207
220
6,634
672
7,306
8,595

4a) International Programmes

Grant expenditure
Salaries and other staff costs
Travel
Professional fees
Office costs
Administration costs
Governance costs		 Direct
Costs
Support
Costs
Total
2025
Total
2024
£’000
£’000
£’000
£’000
5,114
-
5,114
6,370
779
181
960
948
28
1
29
31
68
10
78
74
-
163
163
91
51
54
105
250
-
9
9
18
6,040
418
6,458
7,782

25

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND

(COMPANY LIMITED BY GUARANTEE)

4b) Information and Education

Materials and activities
Salaries and other staff costs
Travel
Professional fees
Office costs
Administration costs
Governance costs		 Direct
Costs
Support
Costs
Total
2025
Total
2024
£’000
£’000
£’000
£’000
69
-
69
34
355
87
442
394
11
-
11
11
-
5
5
38
-
74
74
5
12
24
36
104
-
4
4
7
447
194
641
593

4c) Advocacy

Grant expenditure
Events & publication
Salaries and other staff costs
Travel
Professional fees
Office costs
Administration costs
Governance costs		 Direct
Costs
Support
Costs
Total
2025
Total
2024
£’000
£’000
£’000
£’000
9
-
9
8
14
-
14
8
118
24
142
153
6
-
6
4
-
2
2
2
-
25
25
15
-
8
8
27
-
1
1
3
147
60
207
220

5. Governance Costs

Governance costs are apportioned between the three charitable activities and fundraising based on headcount within those activities.

Costs of Board meetings and overseas travel
Professional fees
Auditor’s remuneration		 2025
2024
£’000
£’000
3
4
-
23
15
10
18
37

6. Net Expenditure for the Year

This is stated after charging: 2025 2024
£’000 £’000
Depreciation 40 13
Realised (gain) on foreign exchange - (1)
Auditor’s remuneration 15 10

26

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

7. Staff Costs

Wages and salaries
Social security costs
Pension costs		 2025
2024
£’000
£’000
1,616
1,630
188
167
152
151
1,956
1,948

Included in the above staff costs are costs paid during the year relating to redundancy and compensation for loss of office, including at the end of fixed term contracts, of £15,000 (2024: £23,000).

The average number of employees during the year was as follows:

Integral Human Development
Education and information
Cost of generating funds
Support costs & governance
Full time equivalent		 2025
2024
No
No
18
19
8
7
8
10
9
9
43
45
38
40

The key management personnel of the charity comprise the Board, the Chief Executive, Director of Public Engagement, Director of Integral Human Development and Director of Finance & Operations. The total employee benefits of the key management personnel of SCIAF were £307,000 (2024: £318,000). No employees received employee benefits (excluding employer pension costs and national insurance) of between £60,000 and £70,000, and one received benefits between £70,000 and £80,000 (2024: one employee received between £60,000 and £70,000 and one received between £70,000 and £80,000).

SCIAF operates a Group Personal Pension Scheme, the assets of which are held separately in an independently administered fund. The charity’s contribution is between 4.5 per cent and 10 per cent of salary with staff making contributions between 2.5 per cent and 4 per cent of salary to the scheme. 41 staff are members of the scheme (2024: 42 staff). Included in staff costs are contributions paid or payable by SCIAF to the fund which amounted to £152,000 (2024: £151,000).

8. Taxation

SCIAF is a charitable company within the meaning of Paragraph 1 Schedule 6 of the Finance Act 2010. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied for charitable purposes only.

27

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

9. Tangible Fixed Assets

e Fixed Assets
Cost:
At 1 January 2025
Additions
At 31 December 2025
Depreciation:
At 1 January 2025
Charge for the year
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Leasehold
property
Furniture
Computer
equipment
Total
2025
£,000
£,000
£,000
£,000
258
18
90
366
-
-
9
9
258
18
99
375
-
9
62
71
26
2
12
40
26
11
74
111
232
7
25
264
258
9
28
295

There are no capital commitments at the year-end (2024: £Nil).

10. Investments

ments
Valuation at 1 January 2025
Acquisitions
Disposals
Market valuation movement in year
Cash deposits movement in year
Valuation at 31 December 2025		 2025
2024
£’000
£’000
2,729
2,612
197
422
(525)
(608)
112
52
2,513
2,478
(280)
251
2,233
2,729

Net cash released during the year was £336,000 (2024: £183,000).

All of SCIAF’s investments are held for unrestricted charitable purposes and are included at market value. All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

The main risk to SCIAF from financial instruments lies in the combination of uncertain investment markets and volatility in yield. Due to ‘quantitative easing’ and market sentiment favouring lower risk investments, the yield on bonds has been abnormally low giving rise to a significant downside risk of a fall in capital values when interest rates return to normal levels.

Although rising interest rates resulting from a stronger economy and improved economic activity should be indicative of improving dividend yields and equity values, there is a concern that the abnormal availability of ‘cheap money’ to the banking sector has led to wider overvaluation of traded assets (an ‘asset bubble’) that may depress equity values once economic conditions ease. SCIAF is not dependent on income from its investments to continue its work.

Liquidity risk is anticipated to be low as all assets are traded and the commitment to intervention by central banks and market regulators has continued to provide for orderly trading in the markets and so their ability to buy and sell quoted equities and stock is anticipated to continue. All of our investments are in markets with good liquidity and high trading volumes.

28

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

10. Investments (continued)

SCIAF manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges.

Analysis of investments at market value
Listed investments
Cash deposits
Historic cost
11. Stock
Printed fundraising materials		 2025
2024
£’000
£’000
2,194
2,410
39
319
2,233
2,729
1,744
2,152
2025
2024
£’000
£’000
10
10
10
10

Fundraising material specific to the Lent campaign for the following year is treated as Stock at the year end

12. Debtors

12. Debtors
Gift Aid
Trade Debtors
Accrued Income
Prepayments
Other Debtors
13. Current Liabilities: amounts falling due within one year
Trade creditors
PAYE & NIC
VAT
Accrued expenses
14. Provision for Liabilities
Provision for dilapidations:
At 1 January 2025
Charged in the year
At 31 December 2025		 2025
2024
£’000
£’000
56
38
260
553
390
571
82
82
21
1
809
1,245
2025
2024
£’000
£’000
57
53
44
39
10
10
578
770
689
872
2025
2024
£’000
£’000
40
-
-
40
40
40

The lease of the office at 7 West Nile Street requires us to pay the landlord on termination of the lease. This provision was released in 2023 but has not yet been paid. The provision made at 31 December 2025 is based on the latest estimated cost.

29

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

15. Analysis of Net Assets Between Funds

Analysis of Net Assets Between Funds 2025

sis of Net Assets Between Funds 2025
Tangible fixed assets
Investments
Stock
Debtors
Cash
Current Liabilities
Net Current Assets
Provisions for Liabilities
Total Net Assets		 Unrestricted
Restricted
Total
£’000
£’000
£’000
264
-
264
2,233
-
2,233
10
-
10
539
270
809
358
854
1,212
(177)
(512)
(689)
730
612
1,342
(40)
-
(40)
3,187
612
3,799

Analysis of Net Assets Between Funds 2024

Tangible fixed assets
Investments
Stock
Debtors
Cash
Current Liabilities
Net Current Assets
Provisions for Liabilities
Total Net Assets		 Unrestricted
Restricted
Total
£’000
£’000
£’000
295
-
295
2,729
-
2,729
10
-
10
161
1,084
1,245
258
93
351
(225)
(687)
(872)
204
490
694
(40)
-
(40)
3,228
490
3,718

30

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

16. Movement in Funds

Fund Name At 1 Jan Income Expenditure Transfer Gains/ At 31 Dec
2025 Losses 2025
£’000 £’000 £’000 £’000 £’000 £’000
Unrestricted Funds
Fixed Assets Fund 295 - (40) 9 - 264
Investment
Revaluation Reserve 568 - - - (79) 489
General Fund 2,365 4,025 (4,158) (9) 211 2,434
Total
Unrestricted
Funds 3,228 4,025 (4,198) - 132 3,187
Restricted Funds
Refugees (Syria) 30 1 (32) 1 - -
Ukraine - 3 - - - 3
Gaza and the Holy 105 209 (200) 114
Land
Myanmar Earthquake - 21 (21) -
Emergency Response 190 21 (85) 29 - 155
Fund
Development - 39 (39) - - -
Projects
Michael
&
Joseph		 38 - (10) - - 28
McCabe
Real Gifts - 248 (218) (30) - -
Institutional Funds
FCDO AM S Sudan 6 (6) - - - -
Guernsey Overseas (37) 141 (110) - - (6)
Aid
Jersey Malawi 221 (221) - - -
SG CJC Rwanda 157 2,851 (2,690) - - 318
SG Loss & Damage 1 (1) - - - -
SG HEF 329 (329) - - -
Total
Restricted
Funds 490 4,077 (3,955) - - 612
Total Funds 3,718 8,102 (8,153) - 132 3,799

31

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Movement in Funds (2024)
Fund Name At 1 Jan Income Expenditure Transfer Gains/ At 31 Dec
2024 Losses 2024
£’000 £’000 £’000 £’000 £’000 £’000
Unrestricted Funds
Fixed Assets Fund 46 - (21) 270 - 295
Investment
Revaluation Reserve 463 - - - 105 568
General Fund 2,788 3,831 (3,928) (270) (56) 2,365
Total unrestricted
3,297 3,831 (3,949) - 49 3,228
Restricted Funds
Refugees (Syria) 25 5 - - - 30
Africa Food - 261 (261) - - -
Ukraine 68 8 (76) - - -
Lebanon - 44 (10) - - 34
Gaza 26 107 (62) - - 71
Emergency Response 216 19 (91) 46 - 190
Fund
Other Emergencies 4 5 (2) (7) - -
Development - 15 (15) - - -
Projects
Michael & Joseph 48 - (10) - - 38
McCabe
Real Gifts - 248 (209) (39) - -
Ethiopia 110 - (110) - - -
Institutional Funds:
FCDO AM DR Congo (12) 12 - - - -
FCDO AM S Sudan 14 495 (503) - - 6
Guernsey Overseas (32) 45 (50) - - (37)
Aid
Jersey Malawi - 200 (200) - - -
SG Kabwe 24 (24) - - - -
SG CJC Rwanda 31 3,377 (3,251) - - 157
SG Loss & Damage 68 218 (285) - - 1
SG HEF - 439 (439) - - -
University of Glasgow - 5 (5) - - -
Total Restricted
Funds 590 5,479 (5,579) - - 490
Total Funds 3,887 9,310 (9,528) - 49 3,718

32

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND

(COMPANY LIMITED BY GUARANTEE)

16a) Unrestricted Reserves

The Fixed Assets Fund represents the net book value at the balance sheet date of unrestricted tangible fixed assets. This fund is not available for current expenditure as the assets are used in the day-to-day operation of SCIAF.

The Investment Revaluation Reserve represents the unrealised increase in the value of the stocks and shares held within the Investment portfolio, at the year-end.

16b) Restricted Reserves

Restricted Reserves represent funds held for projects or programmes specified by the donors and not yet disbursed or disbursed to partners and not yet claimed from donors at 31 December 2025.

The Reserves for appeals such as Refugees (Syria), Ukraine and Gaza arise from specific donations made by supporters carried forward from previous years and made in 2025. The funds are being applied in a planned manner to meet humanitarian needs.

The Emergency Response Fund is credited when supporters give money for emergencies in general: these funds are applied to emergencies for which no specific Appeal is made. We also hold small balances on funds for other past emergencies, which we apply as appropriate.

The Development Projects funds arise when supporters give money towards particular aspects of our development work, and these funds are applied to projects which meet the particular requirements of the donation.

The Michael & Joseph McCabe Fund is the result of a generous donation in the course of 2019 from the winding up of the Michael & Joseph McCabe Trust. The donation is to be applied to our work overseas at the rate of 10% of the fund each year until it is extinguished.

The Real Gifts funds arise as donations from the Real Gifts catalogue are applied to Projects relevant to the respective gift, usually in the year after the donation. Some Real Gifts are for items which are used as part of an emergency response, and therefore the balance from these Gifts is transferred to the Emergency Response Fund.

All of our Institutional (grant) Funders restrict their funds to the particular project which they have agreed to fund. Most of these funders require us to pre-finance expenditure, so that these Restricted Funds are in deficit until after the project is completed. Funds during the year were from the UK Government (FCDO), the Guernsey Overseas Aid & Development Commission (GOAC), the States of Jersey, and the Scottish Government (SG).

FCDO funded one UK Aid Match project:

(i) in South Sudan increasing access to inclusive education for children with disabilities. The project was completed on 31 March 2025.

The Guernsey Overseas Aid & Development Commission (GOAC) funded a project to help vulnerable Rwandan small-scale farming households which concluded on 30 September 2025. Novation agreements were signed with Feed the Minds and GOAC to take over projects improving food and income security in central Zambia and enhancing rural livelihoods through climate start farming practices in South Sudan. A further GOAC-funded project in South Sudan increased food production for small-scale farmers and their families.

The States of Jersey are funding a project in Malawi to assist communities around Lake Chilwa to become more climate-resilient and protect local biodiversity

33

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

16b) Restricted Reserves (continued)

The Scottish Government runs a Humanitarian Emergency Fund for rapid response to emergencies and this year we received funds to address emergency needs in Malawi, Zambia, Lebanon and Myanmar.

We also had a contract to deliver the Scottish Government’s Climate Just Communities (CJC) Programme in Rwanda supporting rural communities to identify and implement their own solutions for adapting to and building resilience against the worst effects of climate change .

17. Company Status

The company is limited by guarantee. The members undertake to contribute a maximum of £1 each to the company’s assets should it be wound up.

18. Operating Lease Agreements

At 31 December 2025 the minimum future payments under non-cancellable operating leases for leasehold property and office equipment is set out below:

property and office equipment is set out below:
In the next year
During years 2 to 5
In more than 5 years		 2025
2024
£’000
£’000
167
168
453
580
620
748

19. Commitments

At the year-end, forward commitments in respect of signed grant funding agreements with overseas partner organisations amounted to £450,000 (2024: £501,000). These grants are conditional on receipt of satisfactory reports, and are subject to SCIAF having the appropriate funds available at the time when the grants fall due for payment. Because of these conditions, the grants have not been treated as creditors.

Forward Commitments at 31/12/24
Commitments expended in 2025
Forward commitments entered into 2025
Forward Commitments at 31/12/25
Commitments relate to the following years:
2026		 501
(501)
450
450
450
450

There are no capital commitments at the year-end (2024: £Nil).

20. Trustees and Related Parties

No Director (Trustee) or Committee Member received remuneration for their services. One Director claimed expenses in the year £313 (2024: £Nil). No expenses were paid directly by SCIAF in relation to international travel by Board Members in the year (2024: £2,268).

Donations totalling £4,398 (2024: £7,630) were received from Directors and Senior Management.

SCIAF is an agency of the Bishops’ Conference of Scotland which has a controlling interest in SCIAF. The Bishops’ Conference has the power to appoint or remove the Charity Trustees of SCIAF. There are no financial transactions between the Bishops’ Conference of Scotland and SCIAF in the year (2024: £Nil).

34

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

20. Trustees and Related Parties (continued)

The Archdiocese of Glasgow is part of the Bishop’s Conference and Archbishop Nolan is a Director (Trustee) of SCIAF. Financial transactions between the Archdiocese and SCIAF totalled £67,820 in 2025 2024: £47,549) and comprised office rent, service charges and broadband charges paid by SCIAF to the Archdiocese.

Due to the nature of SCIAF’s activities in Scotland and the composition of the Board of Directors, it is likely that, from time to time, transactions will take place with organisations in which a Trustee has an interest. All transactions involving organisations in which a Trustee has an interest are conducted at arm’s length and in accordance with normal financial procedures.

21. Contingent Liabilities

As at the 31 December 2025, we had notification that one of our projects had been selected for a full review by the funder's auditors. We had undertaken an exercise to review the project in question and believed that there was a possibility that funding of approximately £60,000 may be clawed back as a result of records supporting expenditure which might be deemed to be unsatisfactory. The terms and conditions of the funding however meant that the review had to commence before the end of March 2026. This has not happened and the liability will therefore fall in the year to 31 December 2026.

22. Securities over Assets

In February 2021 SCIAF took out a loan for £1 million, under the Government-backed Coronavirus Business Interruption Scheme.

The Government provides the Royal Bank of Scotland with a guarantee covering 80% of the value of the loan. The remainder of the loan was covered by a fixed charge over our investment securities and a floating charge over the remainder of SCIAF’s assets.

The loan was repaid in full in February 2022, with no interest due, but the charges over SCIAF’s assets have not yet been discharged by the bank.

23. Accounting Policies

Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

All amounts are presented in Pound Sterling and rounded to the nearest thousand pounds. SCIAF meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historic cost or transaction value (which ignores the effect of inflation or revaluation (except for investments) and deals with original costs to SCIAF only).

Going Concern

The financial statements have been prepared on a going concern basis. SCIAF has a strong balance sheet with significant unrestricted reserves which will help SCIAF to continue to support its work for a period in excess of 12 months of the date of signing the financial statements. The Trustees will, where necessary, utilise the investment portfolio to assist with cashflow. On that basis the charity is a going concern. No material uncertainties exist that would affect this judgement.

35

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND

(COMPANY LIMITED BY GUARANTEE)

Fund Structure

Unrestricted funds are available for use at the discretion of the Directors in furtherance of the general objectives of the charity. Unrestricted funds include designated funds where the Directors, at their discretion, have set aside resources for a specific purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or through the terms of an appeal.

Income

All income is recognised once the charity has entitlement to the income, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. The following specific policies are applied to particular categories of income:

Voluntary income and donations are included in the accounts as income when they are receivable in accordance with the Charities SORP (FRS102).

Gift Aid is included in the accounts when it is claimable. This means that Gift Aid for donations in previous years is included in the current year when a new valid Gift Aid Declaration has been received.

For legacies, entitlement is taken as the earlier of the dates on which either: the charity is aware that confirmation (probate in England and Wales) has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Grant and contract income from institutional funders is included in the accounts when the charity has entitlement to the funds, any performance conditions attached to the funding have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Grant Expenditure

Expenditure on grants is included when the recipients have met SCIAF’s conditions for payment. Where grant agreements have been approved in principle for multiple years with partner organisations, subsequent years’ payments are subject to evidence of satisfactory progress and consequently the liability is not recognised until evidence of this progress has been demonstrated.

Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT, which cannot be recovered.

Expenditure on charitable activities comprise expenditure incurred in the fulfilment of SCIAF’s main objectives.

Fundraising and advertising expenditure comprises costs incurred in encouraging people and organisations to contribute financially to the charity’s work and includes some media promotional costs.

36

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Allocation of Support and Governance Costs

Expenditure incurred which relates directly to any one cost category is allocated directly to that category. Support costs and governance costs are allocated to activities in proportion to the number of full-time equivalent staff involved in each section.

Governance costs include those incurred in the governance of the charity and its public accountability, are primarily associated with constitutional and statutory requirements and include its audit fees and costs of Board meetings.

The allocation of support and governance costs is analysed in notes 4 and 5.

Operating Lease Agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

Pensions

SCIAF offers employees the opportunity to join a Group Personal Pension Scheme to which SCIAF also contributes. Contributions are charged to the Statement of Financial Activities in the year payable. The company has no liability for any scheme shortfall, neither would it benefit from any surplus.

Tangible Fixed Assets

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £500 are not capitalised. Depreciation is provided at the following rates to write off assets over their estimated useful life. No depreciation is provided in the year of acquisition and a full year of depreciation is provided in the year of disposal.

Leasehold improvements (over the life of the 10% straight line
lease)
Furniture 10% straight line
Computer & electronic equipment 25% straight line

Financial Instruments (Investments)

All of SCIAF’s financial assets and financial liabilities are of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans (which we do not have) which are subsequently measured at amortised cost using the effective interest method.

Investments have been included in the Balance Sheet at market value. The annual movement in the market value is treated as an unrealised gain or loss and is incorporated within the General Unrestricted Fund.

Income from investments is credited to the Statement of Financial Activities in the year in which it is due to be received.

Stock

Stock is included at the lower of cost or net realisable value.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash At Bank and In Hand

Cash at bank and cash in hand include cash and short-term highly liquid investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

37

Docusign Envelope ID: 9370C5C2-67F8-8A53-8110-C82B930F48F0

SCOTTISH CATHOLIC INTERNATIONAL AID FUND (COMPANY LIMITED BY GUARANTEE)

Creditors and Provisions

Creditors and provisions are recognised where the charity 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 reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Foreign Currency

Transactions in foreign currencies are translated at the rate of exchange ruling on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange on that date.

Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee and/or to provide termination benefits.

24. Judgements and Key Sources of Estimation Uncertainty

In preparing the financial statements, management is required to make estimates and assumptions which affect the reported income, expenditure, assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from each estimate.

The Trustees are satisfied that the accounting policies are appropriate and applied consistently. Key sources of estimation have been applied as follows:

Depreciation of Fixed Assets – Fixed assets are depreciated over the useful life of the asset. The useful lives of fixed assets are based on the knowledge of senior management, with reference to assets’ expected life cycle.

Allocation of Expenditure Between Activities – Support costs are allocated between charitable activities and governance based on the time spent by senior management on undertaking the charity’s activities.

Provision for Contingent Liabilities – Contingent liabilities are recognised where the loss is probable and can be reasonably estimated. Possible liabilities are not recognised but are disclosed in note 21.

Use of Going Concern – The accounts have been prepared on the basis the charity is a going concern and that there is no intention nor necessity to cease operations in the foreseeable future.

Finance and Operating Leases – The distinction between finance and operating leases is based on whether the risks and rewards of the ownership of the asset have been substantially transferred (finance lease) or are retained by the lessor (operating lease).

38