THE ROLAND SUTTON ACADEMIC TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
Year ended: 31 Miirch 2025
Charity No. SCO16776

THE ROLAND SUTTON ACADEMIC TRUST
CONTENTS
PAGE
Report of the Trustees
Report of the Independent Examiner
Statement of Financial Activities
Balance Sheet
Notes to the Accounts
8-12

THE ROLAND SUTTON ACADEMIC TRUST
Report of the Trustees for the year ended 31 March 2025
The Trustees present their report along with the financial statements of the Trust for the year ended 31
March 2025. The financial statements have been prepared in accordance with Accounting aiid Reporting
by Cliarities: Statemei)t of Recommended Practice applicable to charities preparing their accouiits in
accordance with the Financial R¢porting Standard applicable in the United Kingdoin and Republic of
Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and tlie Charities Accounts
(Scotland) Regulations 2006.
Objeetives and Activities
The principal object of the Trust is to improve the health of the population linder the care of what is
known as NHS Grampian (fonnerly Gr￿pIan Health Board). The Trust's objectives iT]clude the
funding of research and teaching related to Radiology and in that context, resource has been allocated
to individuals undertaking undergraduate and poslgraduate research and other educatioiial grants were
awarded. W¢ have allocated funding to allow a team to develop and investigate an autoinatcd method
to objectively quantify the amount of brain atrophy present on non-contrast CT head examinations. This
could then be used to identify the earliest stages of excessive atrophy compared to age related norn]s
and to predict future dementia risk. Awards We￿ also made to individuals attending aiid presenting at
national and international scientific conferences.
Grant making policy
All applications received by the Trust are initially reviewed by the Monitoring Sub-committee,
omprising a minimuin of two Trustees and an external member, before being forwarded to the full
Board of Trustees recoiTJTnendin¥ ilwiird or rejeclion. All funded applications are advis¢d of detailed
conditions of award and the Monitoring Sub-committ¢¢ rnonitors dclivery on those funded.
A review of achievements and performance
a) Academic Report:
The Academic Department was introduced in 1996 with funding from this Trust. The Trust continues
to offer funding and reviews the Academ ic Report annually. The 2024 report, extending to 19 pages
demonstrates a breadth of portfolio in ternis of research, grant funding awards and publications which
the Trustees commended.
b) Education Report:
The Training Programme Director submits an annual report and in 2024125 reported that the training
programme capacity is 28, with 26 trainees currently, and 5 of these trainees less than full time and I
trainee in an academic SCREDS (Scottish Clinical Research Exc¢ll¢iic¢ Development Scheme) post.
The IR post is still vacant, despite advertisiiig and interviewing but the candidate decided iiot to take up
the post. It is planned to re-advertise later in 2025. Four trainees are due to complete their clinical
traiiiing during 2025. The Trustees also commended the extensive report showing the development and
achievement of the Nortli East Scotland Training Programme.
Monitoring achievement
All funded awards are required to submit a final report and these are circulated to Trustees to ensure tliat
tlie outcomes are achieved.
Financial review
The results for tlie year are set out in the attaclied financial statements on pages 6-12. The net movement
in funds for the year is a deficit of £56,898 (2024 - surplus of £41,702) and total funds at the year end
amouiited to £1,276,184 (2024 - £1,333,082).

THE ROLAND SUTTON ACADEMIC TRUST
Report of tbe Trustees for the year ended 31 March 2025 (continued)
Investment policy and performance
Quilter Cheviot Limited, the Trust's Investmeiit Manag¢rs, have significant experience in the sector and
benchinark the perforn]ance of the fiinds agyainst similar orgaiiisations. The appointinent of oiir
investment manag¢rs is reviewed regularly. For the Trust to achieve its investment objective, the
Trustees have aiithorised its Investmeiit Managers to adopt a medium term risk approach to achieve a
balance betweeii capital growth and the generation of income. Duriiig tlie year, on the recommeiidation
of the investment managers, the Trustees reconsidered the charity's investment strategy and as a result
the previously held investments in equities and fixed interest securities were sold and the proceeds were
reinvested iii Quilter Investors Limited QC Global Incoine and Growtl) Fund. The market valiie of the
portfolio was £1.250,047 as at 31 March 2025 (2024.. £1,296.528). During the year the investment
portfolio generated an income of £47,937 (2024: £50,065). A net deficit arose on the disposal and in
year revaluation of investments of £23,886 (2024: surplus of £67.884)-
Risk Management
Tlie Trustees continually assess and address the major risks associated with the operations and finances
of the Trust. The most significant risk that faces the Trust is loss from a fall iii value of iiivestinents. The
Trustees have considered carefully tliis risk and review the perforniance of the Investment Fund
Managers on a regular basis to ensu￿ that both ¢xpeiiditure and financial commitments remain in line
with thc level of resource available to the Trust.
The expenditure recommendations of the monitoring sub-committee are reviewed by all of the Tnistees
and all requests for funding are carefLilly scrutiiiiscd by th¢ Trustees to ensure that the Trust meets its
charitable objectives.
Reserves PoIiey
The Trustees have considered the reserves required and have taken into account current and future
commitments. The current strategic direction of tlie Trust ts to maintain sufficient reserves to ensure tlie
medilim to long tenn longevity of the Trust. The Trustees aim to maiiitain free reserves at a level of at
least three months of charitable expenditure and coiisider that this level will provide sufficient funds to
respond to applications for grants and ensure that support and governance costs are covered.
The balance held as unrestricted funds at 31 March 2025 was £1,276,184 (2024 - £1,333.082).
Plans for the Future including grant awards
The Trustees will continue to ensure that the Trust's primary objectives are met. As in the past. it will
continue to provide support for post graduate out of programme experience aiid salary costs for adm iii
support to tlie NHS Training Programme Director. It will contiiiue to supply half the salary for Mrs
Teresa Morris, Imaging Facilities Co-ordiiiator for the academic departlTJent and Admiiiistrator of the
Trust. The Trust, in principle, has agreed to focus on fundiiig awards to 3 priinary categories naincly
atteiidance at conferences, fundiiig personnel and funding equipineiit.

THE ROLAND surroN ACADEMIC TRUST
Report of the Trustees for the year ended 31 March 2025 (continued)
Structure, Governance aml Management
The Roland Sutton Academic Trust was founded in 1990 following an iiiitial donalioii frorn th¢ lat¢ Mr
and Mrs Roland Sutton for the purpose of establishing and operating ali academic base for leaching and
research within the DL'partmcnt of Diagnostic Radiology in Grampian for Ilie bei)efit of the citiieiis of
Scotland served by the (irampiai) Health Board 14ospitals and olher facilities. SubsLquent to the initial
funding, turtlier signiticant donations were received by the I rust from Mrs Lilian Sutton before she died
in January 2006.
Following the death of Mrs Lilian Sutton. a significant proportion of her estate was bequeathed to this
Trust. The final payrnejit Mas received in 2008109.
Tlie Tru%1 hciS been in existence since August 1990 and of ihc original Trustees.
remain as Trustees. The replacement Trustees for thoK who have Icft or retired
have been se
ecte
with a view to tlieir bringing academic and clinical rigour to thc Trustees.
deliberati(Ins. The constinition of the Board of Tru%tee% is de%igiied to eii%ure that the TrLiSt is ful ly
independeiit of NHS Grampian and the University of Aberdeen. 'I"he 'frustees are fully informed of the
requirements of OSCR and have been given detailed d(Kiimentation on Trustee responsibilities.
Tlie Trustees schedulc two meetings ea¢li year but communicate electronically to achieve consensus if
dccisions are required betwcen schcdulcd rncctings. The Monitoring Subcommittee, comprising a
illiniiiiuin of two Trustees and an external membcr considers, in dclail, all applicatioiis for fuiiding and
th¢), Inoiiitor d¢liv¢ry oli those fuiided.
Key management ￿rYOn￿e1 remuneration
The Trust does not directly remunerate any personnel.
Reference 2nd Administrative Information
Tru%teo8:
Monitoring Sub-committee:

THE ROLAND surroN ACADEMIC TRIJST
Report of the Trustees for the year ended 31 March 2025 (continued)
Princip21 ()ftice:
CharitTr No. SC016776
er:
Bankers:
Vir¥in Money, l Qiieen's Cross, Aberdeen, ABI 5 4XU
Investment Managers:
Quilter Cheviot Limited
Senator House, 85 Queen Victoria Street
London, EC4V 4AB
AdmÉni5tration Finance:
Tlie Trust is administered from ihe financial aspects through
Aberdeen.
Uiiiv¢rsity of
The I'rustees are responsible for the maintenance aiid integrtty of the financial inforniation incliided oli
the charity's website. Legislatioii in the Uiiiled Kiiigdoim governing the prcparation and disseminatioii
of financial statements may differ from legislation in other jurisdictions.
On behalf of the trustees
Chainnan
Date:
/f./1 2025

THF. ROI.,AND SUTTON ACADEMIC TRUST
INDEPENDF,NT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROLAND SUTTON
ACADEMIC TRUST
I report on the accoLints of the charity for the year ended 31 March 2025 which are set out on pages 6 to
12.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparatioll of tlie accouiits in accordance witli the terms
of the Charities and Triistee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland)
Rcgulatioiis 2U06. '1'he charity trustees consider that the audit rcquircment of K¢gulation l O( l ) (a) to
(c} of the Accounts R¢gulations does not apply. It 15 my rcsponsibility to ¢.Kamine th¢ accounts as
required undcr seLtion 44(1) (c) of the Act and to state ivheth¢r particular matters have come to my
attcnlion.
Ba8is of independent exarniner's statement
My exainiiiation is carried oiit in accordance with Regulation I l of the 2006 Accoiints Reglilations. An
examination includes a review of the accoLinting records kept by the charity and a comparison of the
acLouiits presenled M'ith those records. It also includes consideratioii of any iinusual items or disclosures
in the accounls and seeks cxplanations from the trustees coiicerning any such rnatters. The procedures
undertaken do not provide all the evidence that would be required in an audit, and consequently I do not
exprcss an audit opinion on the view given by thc accouiits.
Independent examiner's statement
In the Lourse of Iny exaill iiialioii, iio inatter has com¢ to Iny alleiition=
which gives me reasonable cause to believe that in any material respect the requiremcnts:
to keep accounting records in accnrdance Th'ith Section 44(1) (a) of the 2005 Act and
Regulation 4 of the 2006 Accounts Regulations; and
lo prepare a¢wunts which accord ivith the accounting records and comply with Regulation
8 ofthe 2006 Accouiits Regulatioiis;
have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of
the accouiits to be reached.
Use of the reporl
This report is madc to the charity's board of t￿Stees, as a body, in accordance with the terms of
engagement. My work has been undcrtakcn to ciiablc me to undertake an independent examiiiation of
the charity's accounts on bdialf of the charity's board of trustees and for no other purpose, To the fullest
exteiit penn itted by law, I do not accept or assuine responsibility to anyone othcr than the charity and
the charity's board of trustees as a body, for rny work or for this report.
Date I
20is-

THE ROLAND su￿ON ACADEMIC TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
Note
Total
Unrestricted
Funds
2025
Total
Unrestricted
Funds
2024
Income and Endowments from:
Investment income
48,450
51,188
Total income
48,450
51,188
Expenditure on:
Rui.singfvnds.'
Investment Management Costs
(9,623)
(8.812)
Charitable activitie.s
Grants payable for project/salarics
Graiits payable for travel/courses
Grants payabl¢ for equipmciit
Govern￿]ee costs
(62,802)
(6,070)
(2,967)
(59.421)
(9,137)
Total charitable activities
Total expenditure
71,839
81,462
68.558
77,370
Net gains/(losses) on investments
23,886
67,884
Net Incomel(Expenditure) and net
movement in funds
(56,898)
41,702
Funds Reconcilialion
Total Funds brought fonvard
lJ33,082
1,291,380
Total Funds carried fO￿ard
1,276,184
1,333.082

THE ROI.AND SUTTON ACADEMIC, TRUST
BALANCE SHEET AS AT 31 MARCH 2025
Nole
2025
2024
Fixed Assets
Investments
1250,047
1.296,528
1350,047
1.296,528
Current A￿ets.
Debtors
Cash at bank and in hand
9,808
40,939
48.887
62,473
Current Liabilities:
Crcditors falliiig due within onc ycar
10
(24,610)
(25,919)
Net Current Assets
26,137
36,554
Total Assets less Currenl Liabilities
1276,184
1,333,082
The Funds of the Charity:
Unrcstrict¢d fi]nds
1276,184
1,333,082
Total Charitv Funds
1376,184
1,333,082
The notes at pages 8 to 12 form part of these accounts.
Approved by the Trustees on /?. //. Z 0 25 and signed on iheir behalf by:
Roland Sutton Academic Trust

THE ROLAND SUTTON ACADEMIC TRUST
NOTES TO THE ACCOUNTS
Accounting Policies
(a) Basis of Preparation
The financial statements have been prepared linder the historic cost conventioii. with the exception of
the investments which are included at fair value. Tlie financial statements have been prepared in
accordance with Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to cliarities prepariiig their accounts iii accordance with the Finaiicial Reporting Standard
applicable in the UK and Republic of Ireland (FRS102), Finajicial Rcporting Staiidard applicable in the
UK aiid Republic of Ireland (FRS102) Cliapter l A Small Entities, tlie Cliarities aiid Trustee Investment
(Scotland) Act 2005 aiid the Charities Accounts (Scotland) Regulations 2006.
The Trust constitutes a Public Benefit Entity as d¢fin¢d by FRSI 02.
The TrLlStecs consider that there are no material uncertainties about the Trust's ability to continue as a
goiiig concerii.
The financial statements arc prepared in sterling which is the functional currency of the Trust and
rounded to the nearest £.
(b) Income
All income is recognised once the Trust has entitlement to it, it is probable that the income will be
rcceived and the monetary value can be measured with sufficient reliabiltty.
(c) Expenditure
All expenditure is accounted for on an accrLJals basis and has been classified under headings that
aggregFate all costs related to the category. All expenditure is recognised once there is a legal or
constructive obligation committtng the Trust to the expenditure. The irrecoverable clement of VAT is
included with the item of expense to which it relates.
(d) Charitable Activities
Costs of charitable activities comprise all costs incurred in the pursuit of the Trust's objectives.
(e) Governance Costs
Governance costs comprise all costs attributable to ensuring the public accountability of the Trust and
its compliance with regulatioii and good practice.
(O Fixed Asset Investments
Investments are stated at fair value as at the Balance Sheet date. Net giains and losses arising from
revaluation and disposals of investments througliout the year are included in net incoin¢lexpeiiditure in
the Statement of Financial Activities.
The fair vallie of quoted stocks and shares Is based on their market value at close of business at the
balance sheet date.

THE ROLAND SUTTON ACADEMIC TRUST
NOTES TO THE ACCOUNTS (continued)
g) Financial instruments
The Trust has elected to apply the provisions of Section I I 'Basie Fiiiancial Instriiments, and Section
12 '0ther Financial Instruinents Issues of FRS 102 to all of its financial instruinents.
Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presentcd in the financial statem¢iits,
when thcre is a legally enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.
Basicfinancial ossets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
traiisactioii price including transaction costs and are subsequently carried at amortised cost using the
effective int¢￿st method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of intcrest.
Financial assets classified as receivable within on¢ year are Iiot ainortised.
Basicfinancial liabililie&
Basic financial liabilities, including creditors and accruals are initially r¢cognised at transaction price
unless the arrangement constitutes a financing traiisaction, where the debt instrument is measured at the
preseiit value of the fiiture payments discounted at a market rate of interest. Finaiicial liabilities classified
as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognilion offinancial lirtbilities
Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged
or cancelled.
h) Cash and casb equivalents
Cash and cash equivalents include ca%h in liand, deposits held at call with banks and other short-term
liquid iiivestments with original maturities of three months or less.
i) Funds
All funds held by the Trust are unrestricted funds whicli have been donated or generated with no specific
purpose and are therefore available as gciieral funds.

THE ROLAND SUTTON ACADEMIC TRUST
NOTES TO THE ACCOUI¥TS (continued)
2. Critical accounting estiniates and judgements
In tlie applicatioii of the Trust's accounting policies, the trustees are required to make judgements,
¢stimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assuinptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised iii the period in which the estimate is revised where the revision affects only
that period, or iii tlie period of the revision and fiitlire periods where the revision affects both current
and future periods.
The Trustees consider that there no estimates and underlying assuniptions which have significant
risk of causing a material adjustment to the carrying amounts of assets and liabilities.
3. Investment Income
2025
2024
Investment income
Bank interest received
47,937
513
50,065
1.123
48,450
51,188
4. Analysis of direct charitable expenditure
The Trust undertook direct charitable activities in support of the Roland Sutton Academic Trust and its
related parties by making grants under the following activity headings..
Total
2025
Total
2024
Equipment
Salaries on providing servi¢es/Project costs
Travellcoiirses
Total Grants payable
2,967
62,802
6,070
71,839
59,421
9,137
68.558
Governance costs
Independent examination
Total
71,839
68,558
5. Analysis of Grants
All grants are Inade subject to the approval of the Trustees. The total cost of making grants is set oiit
above. Grants of £6.070 (2024 - £9.137) were made to individuals with the balaiice of £65,769 (2024
£59,421 paid to institutions.
10

THE ROLAND SUTTON ACADEMIC TRUST
NOTES TO THE ACCOUNTS (continued)
6. Trustee remuneration and expense
The Trustees received no remuneration from the Trust during the year ended 31 March 2025 (2024-
Nil). Expenses paid or reimburscd in the year to Trustees amounted to Nil (2024 - Nil)-
7. Fixed Asset Investments
Movement in fixed asset investments:
2025
2024
Historic cost at l April 2024
Add un￿alised gains at l April 2024
Fair value at l April 2024
Add: additions to investments at cost
Disposal proceeds
Add: iiet (loss)/gain on revaluation
952,986
343,542
1,296,528
1,309J55
(lJ31,950)
(23,886)
990,226
273,871
1,264,097
40,387
(75,840)
67,884
Fair Valuc as at 31 March 2025
1,250,047
1,296,528
Investments at fair value comprised:
Eqiiities
F ixcd interest securitics
Unit Trust
1,178,094
118,434
1250,047
Total
1,250,047
1,296,528
DITring the year. the Trustees reconsidered the charity's investment strategy and as a result the previously
held investments in equities and fixed int¢￿st securities were sold and the proceeds were invested in
Quilter Investors Limited QC Global Income and Growth Fund.
8. Debtors
2025
2024
Cash fuiids - held by investment manager
9,808
9,808
48.887
48,887
9. Analysis of cash at bank and in hand
2025
2024
Cash funds
40,939
40,939
13,586
13.586

THE ROLAND SUTTON ACADEMIC TRUST
NOTES TO THE ACCOUNTS (continued)
10. Analysis of Creditors falling due within one year
2025
2024
Accruals
24,610
24,610
25,919
25,919
11. Analysis of Charitable Funds
Gains and
Losses
Bal blf
Income
Expenditure
Fund c/f
Analysis of fund
movements
Unrestricted
funds
lJ33,082
48,450
81,462)
23,886
1,276,184
12. Related Party Transactions
Th¢r¢ w¢r¢ no r¢lat¢d party transactions.
12