The Scottish Council of Law Reporting a company limiled by guarantee) Directors, report and financial statements Registered number SC032729 31 December 2025 Charity Number SC017485 Company Number SC032729 SCLR. 2025kttts 24 LX 26fEr17Alth&?2b2Tll 1119
The Scoltlsh crtd1 of Law Roportlng ( company limtted by 9uaranteel Direct, r•port and financ4al ststernents 31 Dember 2025 Cornpany Number SC032729 Contents Memters, Tntstees and advws Report of Ihe CixYKil Independent examinerfs repcyt to the Tnee$ on the unau(Kted fmancTraF stateMts Statement of fmancial acbvitres 10 Balance sheet 11 Statement of Cash fkAYs 12 13 SCLR. 2025Ats Fl1 24 0626.[{rtr75m1*22b2lltSj Pw. 21 f9
la company Ilmlted by guaranteo) Otrects. r8port arKE Ilnanciai tements 31 0mber 2025 Ci)mpary Nwnber SC032729 Members, Trustees and athiise Membets The Rt Hon. Lord Ericht (nomated by Ihe Lord President) The Hon. Lady Haldane (rK¥ninaled by the Lord PresjeIl B T Smrth KC Inominaled by the Fa(#Jlty of Advocatss) A Delthgovic-8roome KC Inc4ningJ by the Faculty of Advocales) C A McLintock Irwjminated by the Law Soe4ety of Scotland) (Resigned 25.6.25) J M Mulknlnd (nomviated by the Law SOety of ScodwKI) E J McLaTty (nominated by co11} C l McKay (nominated by the thnull Dorothy Bain KC. ex 01CH> as Lord Advwate Ruth Charteris KC. ex (ffto as Solicitor-Generdl Roddy Dunlop KC. ex officio as Dean ofthe Faj ofAdvocates Susan Murray. ex offtio as President ofthe Law Society of So)tland IsLKceeded by Patric Thom} S M Webster {Atpointed 25.8.25) Trustee5 a Directors B T Smith KC {Chair} J M Mulholland Iwtee Char) A De1ibegovic4rcne KC E J McLarty S M Webster (App)vrted 25.6.25} C A McLintock {Resrgned 25.6.25) Editor E C Toner Deputy Editor JTYCW Secretary G A Grant (Appointed 25.6.25} A J Kinahan (Resh3ned 25.6.25) Registered office CIO Henders Lcggie LLP The Stamp Office Level 5. 11>14 Waterloo Place Edinburgh EH13EG Accountants Henders Lwjie LLP The Stsmp off Level S, 11>14 watert Pl Edinburgh EH13EG 8ankeTS The Cowative Bank pk 18alloon Stree( Independent Examiner Mark T Edwards FCCA MilcheH EthrdS Chartered Certrfied Acummtants 24A AYis1 Aa Edinburgh EH3 6 Solicit¢)rs ArersOn Strathern LLP 58 mo150n Street Eth)bwgh EH3 88P Company registration number SC032729 Charity number SC017485
S¢o#hh Crmid of Law R•p)rtkn9 la company limited by guarante•l 0troctr¥s' financ481 ststements 31 DecembeT 2025 Number SC032729 Report of the CouncFI and Statement of Accounts for the year ended 31 December 2025 to the Sixty-fffth Annual General Meeting of the Members The Board of Trustees of the Council. who are also the directors. has pl&tsure $IttIng ils rep and financial statements for the year ended 31 December 2025. Objedlves and Actlvldes The Council. as a eharity, is established to provth P1¢ benefft in Scdand elsevthere and to promote the advancement of educalion and Ihe advancement of human fights. (x)nftl resolutton or reconciliation. In fvrtherarKe of ib objects the COW11 rroy. Publish reports ofjudieial dèci8tons Ihe Supreme Court ofthe United W. the Privy Council, the Court of Session. the High Court of JustrfAary. the Sheriff Appeal Court and the Land5 valua.on Appeal CourL and. where it is deemed apwopriate. ofany other court affEthg scot1 in its law report sertes, Session Cases@. Issue. reriodically or CS1Onally. other puiCatIOnS relatiro to legal subjects. law reporting. mediation. dispute resolutKJn and arbitralion. Organise relevant coutse4 eonferences, exhbi iti)ns. diys. meetings, leotwes, educatial programmes. classes. and seminars. Jlocate funds to rndividuals and institutions in furfherante of research, WTiting and training on legal subjects, law reporting. mediation. dispute resolution and Wbitration or in the promolion of best legal practice and sound legal education In ScottarKI and elsewhete. The Memorandum arKI Artides expressty pTohbit ar4)litstion oflhe CowKil's inCne ftr any pwwjse other than the promotion ofthe Council's ¢ieds. An explanation of aclivilies. projects aTrJ servKes with nwnerieal infomtb)n C re5cCeS spent on particular a(viiies is provided Y) the ensuing Aclwevements and P8rfom7ance seclion ot th15 reix Achlevements and perfonnCe thjring 2025, Session Cases@ published a ts)tal of 78 significant cases attoss all six parts. The objective of lssulng all the pulS Parts of sessi Cases@thin the year was narrth mSed. Alihough the reports for 2025 {Parts 1-6} were released to the online infomialicffi licensees Ihe year, the final bound vcAume for 2025 was not printed and sent to subscnbers until earty January in 2026. Whilst Part 5 was delivered for distrbutK)n on 28th November 2025. due to an oversight with the mail house, Part 5 did not mail until January 2026. The team of reporte at the end of2025 was a strong &ven mem. As the most authoritkne law repts in Scotsnd, S&&sk)n Cases@ a CnKaal role in legal education and the advancement (4 huma) rights and cNrflict re9)lu. Other notable athievements: 1. The cou1 organi5es aKI fvnd5 the delivery of the PA¥Myen Lectures. annual series of lethres memory of the Rt Hon. Lord Macfadyen. These are given by a distinguished member of the domestic or international judiciary. The Macfadyen le[e$ are attractive to an audtenee of Iwets, academics, joumali%ts, students and interested members of the public. The 2025 leebjre. the fifteenth in the series. was delivered by The Honourable Mr Justice Adrian Saundets. prdent of the Caribbean of Justi. His subject wa$ The Caribbean Court of Justice at 20 Years.
la comwy l(mlted by guaiante?) Dk•Cl' rewt and fthan¢ial 5talements 31 Drnber 2025 Company N4wnl)eT SC032729 Report of the Council and Statement of Accounts (conllnuedj Achlevements and pfornJan¢e {ntinued} 2. The Council's work on a consolidated Index ofthe more than 35,(W cases pthli8h&J in the varp)us series of Session Cases@ {including Jusliciary Cases) sints 1V21 was completed during 2025 and was released as the Index to S8ssion Cases via the Council's website during 2025. The Index enable5 users lo search for cases using tr eatchwords and phrases in the repryts. 3. The FacuRy Decisn$ se0d seiias {1825 - 1841) digitssatson pr(¥e¢t was completed dwing 2025. PDF ar .xml )Iles were released kn onJwJe pTovidtts ai mid-2025. 4. The Council made grants lo the Lawscot FoundalKJn, to a5SiSt sknjents to Stty Jaw al a Scotttsh Univwsity who would otherwise be Unab to do so. and to the Faculty of Advocates to SUPW a lawyer through their year of devilling (an unpaKI traineeshi) that is an essential step Ni the wocess of qualfying as an advocate In Scottand). Flnanclal Revlew The key features of the finanoal statements refl1 the chrys t4)Tnmented on eL8evknre in this reprt The income and expendHure acco shows that The deficit for the year to 31 December 2025 was £13,240 before re¢trJnISff unreali5ed gains on Nivestments 12024.. £50,209 SlUs>. After net gains on snvestsnents of£26.79512024.. £17.5981 Ihe reserve5 balan is £428.34312024: £414,788}. Income and expendlture rn relat to four parts of hard w>y wblieation * SFX parts of digilal publication of the 2025 Volume have been re(y)gnised. Income by way of royalties from electronic pubtKion in the year amc4mts to £205.880 (2024.. £260.401) and from hard copy subscriptions: £13.00012024: £8.520). IrKome fmm royaliks a1 the sale of Session Cases@ remains the princbpal funding srCe of the Council. In respect of the balance sheet Work in progress represents the costs of parf5 1- 6 of the 2026 Vdume as well as hard wy o)sts of pt 5 and 6 2025. VAT payable of £15.115 is recoynised. The Cash balance in the Councifs cJJrrent and dep)sit accounts at the yearrKI was £125,515. Accruals consist of $ts aCerL for the preparation of management and statutory accounts as well as the cost of the independent review. ReseThes Policy The CouncFI has a dear financial pdicy regthg the Mrtnce of reseNes to enswe opwational stabÉity. The Council's policy is to maintain a reserve of £150,0(M). This designated SEyn is caloJlad to be suffieient to supwt th8 Councifs ongoing operations for a full year. The primary ratK)nalefor maintaining this reserve 1$ to enabk Ihe Council to meet its ttttrathal ObligaliL the event 0fsignffI dÉsnptions. SPefiCalty. the reserve is ntended to safe9uard the Council's tyto continue its operation$ should there be a dramatic shfft in the envrrjnment sutroundlng the publication arrfl d[strittion of law reports in Scodand. SCLR. 2025 Fiw 24 C6 26fyftr2bfttr%475ml•>?wllIX W 5119
la company Ilmlted by guaranleel Directry5' rewt and ffftaACiat slatoments 31 December 225 Cryary NwnberSC032729 Report of the Council and Statement of Accounts (contlnued) ReseNes Polky (continued) The excess of reserves held ab¢)ve this reseryes policy 1veS from the sale of the Council's dwjital archives of Session Cases@ (and other law report serE5 in Nvhich il may c]aim telleCtual prm}. This provided a stream ofincome which, although substantial. wa5 one-off {in that. now such sales have been made. they vritl not be repeated). The reserve balan¢es thus accumulated are aPpld to challle activilies, furlher digitssalTh of Scots law rerort series, as opportuntlies artse in accordance the CnC'S obFds. It should also be rted that, in a per of k)w intwest rates, the Counctl has elected to place a substantial portion of its reserves as investments and thi5 porlion of the counc,$ reserves, altlKJugh managed prudentty and reviewed regularty, is subject to stock market fluctuations. For the past few years the Coun1.5 balance sheet has knefiled from the rise in value of these investments. At the end of 2025 the value of these invesbnerts rernaans cOnderablY greater than the COU,5 inilial £150,000 investtnents. Investment Polky The Council d8ded. n view ofthe ofcover offered under Finandal seice$ Compensati¢m Scheme IFSCS), to spread its bank deposits so tha( insofar as practicable, no deposts with a single organi5ation holdFng a banking authoTisation exceed the comFensatp)n s(eme knit d £120.IXKI. Other investments are managed f the Council by Hender$C Loggie Fmancial Planniw Ltd (HLFPI. The TnleeS have a polrcy of low to medium Fisk in ils po10 which is StrUred w as to minimise expenses. The inveslments are rewewed regularty th HLFP and irtslnjcknns as to changes in the Fxxtslio balan are issued as required. Plans for Future Perfods In addition to continuing the publicatscm of SessvJn Cases@, bythe Couni>l itseff in hard copy and. Wkder Itcenee, through online legal M)formatn provKlers. the C¢)Unl witl conknue to appty its reseNes in the general pursuit of its charitable objects. The 2026 Macfadyen Lecture is to be delhered by The RL Honourable LLYd Patri( Hc. on the topic: 'Developments in the Scots law ofconttact.. Anthony Kinahan. who served as Se• to the Sin 2003. rel¥ed at tr AGM hekl in 2025. Following a seFectton process. Gilty Grantwas Klentrfd as Anttw Kinahan's $te5. Herappovthnt as Secretary was oifKialty confimied dwing the 2025 AGM. A Consequen ofthe Secretary's retireTnent. the Councafs registered adthess was Ch to Heryler Loggie. T stamp Office. Level 5. 10-14 Waterfoo Place. Edinburgh EH13EG at the 2025 AGM. SCLR. W25 24 06 26.FdIf271•>*2?bZ1ll<fjSI Py.. 6119
(a cOmpY Ilmlted by guaTanteel Oti•clors' reportand financial statements 310ecember 2025 Comparry N4unbw SC032729 Report of the Council and Statement of Accounts (conrfnued) Structure, Govemance and PAanagement The Scottish Council of Law Rep1 (the Counal) was established as a corrwany limited by guarantee sn 1957 and in incorporated in Scotland. Under Ihe meMorandn and Artrcles of the comwy, which were revised in 2010. the Directors are elected by the Members to serve on a Board of Tntee5. Members of the Counul are Iwniled to 12 in number. The followng persons onty are eligi4e for of tr cnc41. Two judges of1he Ctyjrt of Sessp)n. nominted by ts LLYd Preshjert olthe Cowt of Sessw)n. Two persons nominated by the Faculty ofAdvooates. Two petsons rKJminated by the lW Society of SCollaj. Two or more perscns nominated by the Scottish COU1[ of Law ReportiFVJ itself Irf more than tsvo nominees by the Council, then the number should retle¢t those entild to be '8x offtio, members who have declined lo take up that rote. No more than ofthe Council's nominate members may serve as Trustees concuffenuy). and, as 'ex offioKI' members. any of the persons hdding the of Lord Advocate: Dean of the Faculty of Advocates" Solicitcf-General of Scoland: and PreSnt oflhe Law SOcty of Scotland, who indicate that they are willing to serve as membets. In 2017 the Ltyd Athocate. the Dean of the Facu arKI the President oflhe Law Society of Scdand so served. 'ex olfjcio'membets May Th)t Ser as DirectOF5 ofthe company. Nominated Members may serve for ten years from their fwst nomination and must theft resign at the Annual Generai Meeting followng the tenlh annwersary of the nornination trJ the cMell. ex officio Members seNe as such until they cease to hold the office whtch entilies them to serve as ex oifm Members. Under the revised meM(Yanm and Arti$. the Board OfTtee5 c(Thists of less than three arKI not more than five Members appointed by orfinary re501ulion at the Annual General meety inludw the Chaimian and Vi Chaimian of the Council who seNe as Trustees and Directors by virtue of their election to Ihose offices. Trustees may not serve for more than four year5 intlially bLrt are eligibte for re- election for up to a fvrther four years then are not usually eligible for relection. The Board is responsible for the management of the business of the Council. The Memorandum and thtieles r4uire thal Members of the Council prowde 'gratuitous professional control, and Th) payments are made to Members for their work. New Members of the Council are fulty briefed on the C¢11.5 operafK)ns by the Chairrnan following confirmation ol their appoinlment by a General Meetfftg. By reason of thw qua1ifKal)n for appointment by the¥ Tr)minating body. new Members aR lY awaTe of Ihe duties and resp1 of char Irustees priorto Ihew appointrnenL The Board of Tnjstees meets regaty throu9h the year to HIder the thkncl's management accounts and to reVW forward forecasts of activity and expendilure. It i% at these Board of TnJ5tees meetirwJ$ that the Council's strategie decisions are made. contracts are authori and tssks are delegated. The Cou11.$ Secretary. Accountants, Editor and other persons in a postKin to report on acVIt arKI projects are requffed to attend these Board of Trustees rneetings as necesw. The Board of Truths meets mcxe frequenty if there are particutar matters requiring m¢e urgent attentlon. The Board of Trustees dertakeS a assessmerrt exerc4se. and Ihis is reviewed and reviged annudty.
la ccthpany Itmited by guaT8nt&•) Olrectots. report and Ylnanc5al statements 31 Dotsmber 2025 Cryry Nber SC032729 Report of the Council and Statement of Accounts (contlnued) The Councll The fo]bvAng served a5 Directors and Trustees (knYKJ 2025: C A McLintock (Chair) succeeded by B T Smilh KC B T Smtth KC (Wice Chairl suc(*eded by J M Mh0118nd A Dèlibegovic-BrtJome KC E J McLaty S M Webster No other person served as a trustee OT dwecty of the ccryany 2025. The report has been prepared in accord wilh the specHI provisi(Th of Pat 5 of Ihe Comwmes Act 2006 relating to smaH ecPanIes. Barry Smith KC Chair 24 June 2026
Independent examlner's report to the Trustees on the unaudited financial statements of the Scottish Council of Law Reporting I report on the fmncial ststerne ofthe for the year enthd 31 Decemtv 2025 which are set out on pages 10t0 17. Respective responsibilities of the Intee9 and examiner The trustees (who are also Ihe dwectors of )MpanY for the pwp)seg company Lw) are responsible tor the preparation of the financial ststements in accordance with the terms of the Chartties and Tfustee Investment Iseouand) Act 2005 and the Charities Accryjnts {sCoand) Regulations 2006 (as amended). The charity Irustees congder that the audit requirement of Regulation 10111 la) lo l¢} of the Accourrts Regulations 2006 dS nol apply. It is my responsibihty to examine the finaneiat statements as required under section 44(1) (cl of the Act and to State whether particular matters have come to my attention. Basis of independent examine¢s reyt My examination is carried out #i ac0)rdan WFlh Regulalicr 11 of the Charthes Aco)unts (Scotland) Regulations 2006. examination indudes a review ol the acts)unting records kept by the charity and comparison of the financial stments th those records. It also indudes cs)nsKlerabon of any unusual items or disclosures in the fThncial statements and seeks explanati fr(Mn the trustees conceming any such matters. The procedures undertaken do not all Ihe evwjence that woukt be required in an aud¢ and ¢onsequenty I do not express au(r(( ¢)pwiion (m the view wen by Ihe TCial statements. Independent examinerfs 5Lement In the course of my examination. M matter h05 come to my atten1v. 1. Nyhich gives me rea5wable cae kn bere that Ni any rnaterial respe¢t the requThneTts". to keep actxrtffttiig reccds n accordan wilh Sedicm 44(1} {a} of the 2005 Act and Regulation 4 of the 2006 ACcots Regutations" and to prepare aco)unls which ac¢ord with the awjuntry records and comptywith Regulathjn 8 of the 2006 Accs)unts Regulatiorts. have not be me( 2. to which. wi my opinion. attenl)n sh(xdd be in order b enable a prw understanding ofthe firHncial statements to be reached. l EdWl Mvk£tt¥Ards- 202&07-09. T?W.'3911TC Mark T Edwards FCCA Mf(chell Edwards Chartered Certified AcCotr 24A All11e Place Edinburgh EH3 61 24 June 2028 SCLR.2025 kxoJrrt8 24 C6 26pJtrJrth7fr2fy7lw522b211lKSI W 9119
ScrAbsh CwrKiI of Lw Roporflng la 1mPanY tlmltod by guarantee) Oirecth. roport and filnC1 Stat¢ 31 December 2025 Fity Numb SC017485 Statement of financial activities (incorporating an income and expenditure account) for the year ended 31 December 2025 2025 2024 Incomlng r•sour¢es Inwe from charftabl• acbvits Pl11¢8bOn inccffjg 220mg 271.514 come frDm Invwtm•nts Bank and othèr Interèst rtteW>ie Total Incom? 221.980 272.478 Resourc•s 8Xnd•d Expenditure on chantable acuvllkn.. Chailtabl& acllvltl85 Other charrlable costs 1134.056) 1134,0711 1101,1641 188.1981 Totsl rowurc•$ •xpond P34220) {222.WJ) 795 17.598 Net movom•nt In funds 13555 67,807 Fund Ixothjhl foMr<l at 1 January 2025 414788 346.981 Fund balan¢• earried forward at 31 Oewnb•r 2025 428,343 414,788 otherthan the sws for the year. there have Lwi (ther recwised gairs or losse5. All of the fijnds recgNed in year are for ur*estri(knY purposes. io
Scotlish Ctyjncll of Law Rowbng la company Itmtted by guarantee) Olr•ctot5' report 8EttJ fin¢¥al statèments 31 Dètsmber 2025 Charlty Number SCO17485 Balance sheet as at 31 December 2025 2025 2025 2024 2024 Flxod assèts lttvèstments at mrket u0 ¢uTront ass•ts sto¢k$ Dabtors Cash at baTh* and Lyt d•poslt 323,518
21.723 131.627 121227 1.596 118.601 125.515 241424 Cr•dltors". arThwnts falkng )wr 11474n (149.359) Il•t CUttt ass•ts 104825 93.065 Total Mèt assets 428.343 414.788 Represented by: Unr8strkt•d funds Unrestttcted funds Rovalua*on rèsèNe 248.065 166,723 193.518 TO unre5lrfC fuTrJs 428,343 414.788 For the ffftaneial year ended 31 December 202S the charty was entiued to exempth)n from audit under section 477 of the Companies Ad 21x16. No member of the ¢x)mpany has deposited a notice. pursuant to section 476. requiiiThJ an au(rrt ofthe5e a¢c4wnts under requirements ofthe Companies Acl 2006. The Council acknowledges its resp$11$ for ensuring that the chaiity keeps a¢counting reo)rds which compty section 386 ofthe Act and for prePa[N accounts whth give a true and faw view ofthe State of affairs of the charity as at the end of financkql year and of ils surplus or defictt for the financial year in ac(x)rdance the requirements of secl>Jns 394 and 395 and which otherwt5e compty wilh the requsremerrts of the Companies Act 20C6 rdaling to ?ounts. so far as applica)te to the tharity. These financial statements have been prepaed accotdartr Ihe special pro¥isp)ns relatng to small ¢ompanies within Part 15 of the Companies Act 2006. Sth/e Barry Smith KC Chair Company Number SC032729
la company limw by guarantaèl OÉre¢tors' report and finarttial statements 31 Oecember 2025 ch Nusnber SC017485 statement of cash flows for the year ended 31 December 2025 2025 2025 2024 Nat Inc Not gakns on knv8sbntnts Income from investrnenls Increas• in stLk IlncTeaseydecreas• kn debtors In¢r•as• IA U8thtt>r5 fallry du• wllhkn y•ar 13.555 126,7951 (9811 198001 1834) 5,388 117.5981 19641 120.7381 102 26.700 Cosh provided byl(used In} op•ratlng aetl¥ltl•s {19.1)on 55.309 Cash flows from Investlng acUvlts Inv•stm8nt tncome 981 240fr) cash provided ty In¥•stlng acllvl 25,981 Incrnas• l {d•cr•as01 In cash and cash ryl¥al•nts In lh• y•w 6014 $6.2n ¢••h •nd¢aBh oqulvalents afth?b8gknithg olth•y•ar 11&601 62.328 Totsl ¢ash and cash vqulvalents at th• oflm y•ar 125,515 118,601 Castt and eash •WvalBnts comprEs•: Cash at bank 125.515 118.601 12
Scotush Cnd1 of R•ptsrttng (a CoMnY lirnlted by guaran) LNr•dors' report financlal stat•rn•nts 31 D•cèmbtf 2025 Ch&ity Nwnbw SC017485 Notes (forffling part of the flnandal statements) Status The company is fimited by guarantee, in Scotland wih ib registered offte CIO Henderson Loggie LLP. The Stamp oifKe. Level 5. 10- 14 Waterloo PFate. Edinburgh. EH13EG. The liabilFty of each ofthe Mernbe of the co is IwTrMted to £1. The prgsentation (xATency of the financial statements i8 the ste11r (£). Accounting policies Basts ofpreparatlon The financial Stater[ts have been prepared in &cO[dar with the ChaTitses SORP (FRS 102> 'Accountrng and Repwting by Chartties: Statemenl of Reo)mmended Practi applicable to charities preparing their acUnts in &¢ordan¢e with the Finanal Repong Standard applicable in the UK and Republic of Iretand {FRS 102} leffectNe 1 January 20191.. the Financial Reporting Slandard applicable in the UK and Republie of Ireland (FRS 1021. the Charities and Trustee Investment IS¢ollaTra) Act 2005 and the Chanlies AcCots IScoland} Regulations 2006 {as amended) aTrJ the Companie5 Act 2W6. The Councrl meets the definibon of a public benefft enttty undw FRS 102. Assets and fi&ilibes are initialty recognised at hi51oricat cost or transackn value unless othefwise slated in the Tetevant accoting notels). Preparndon of the •ccounts on a golng concern basls The trustees consider that there are no materol certaine5 abtmrt the Tnjsls abilty to continue as a going concem. Income Subscriptions receNed for current wbli¢aliors arn recogni5 the Y n which vdumes are published to the extent of subscriptions receNed. Subswtsons recewed in advance frjr volumes not yet published are included wilhin defwred inme. Olher sthcriptions are recognised to tr extent that they are received wi Ihe yea. Donalfons and royths Donations aThJ royalties are reCOgrid to the extsnt thal they are in the ye. Interest recelvable Interest on funds held cffl deposit is included when receivable and Ihe amount can be measured reltabty by the charity. tlus is rK>mialty UP notification of the interest pad or payable. Resources expended All expendiiure is accounted on ¥t accruals basts aNJ has been dasstfied under headings that aggregate all costs related to the cg¢)ry. Where costs ¢anrK)t be dtyedy altrbuted to particular headings they have been allocated to adivibes C a basis ccfisistent use of the resources. 13
le company 1Sm¥tÈd by guarantee) "rectots. wort and fiftanclal $tatsm8nts 31 December 2025 Chwity Numb8r SC017485 Notes (witinued) Accounting policie5 (Contind) Cost of publicthns comprise5 (x)sts of pth)lishing, editorial. piintsng reporters. fees. These are charged so as to match income ftthe year. Other charitable costs represent Governance costs G0vemare costs 4mF all costs invofving the pubh'c accountabilty of the chartty and ils ccthpliance wrth regulation and gc#)d practice. These costs indwje costs rel io the independent examinat and accOuntsn. Flnanclal Instruments Financial instruments cornprise frTrancial assets and financial liabil[S wlwch are initkilty renised at transacti value and subsequenty measured at thetr settlement value with the exception of investrnents. Investments are measured initsalty at thew transaCn value and subsequent measured at the fair value as at Ihe baLarKe SIet date 1rj the closro quoted market pri. The slalement of financial adwities fftcbJdes the net ga$ and k)sse5 arising on revaluations disFwts throughcmrt the year. All wwe51n are Clied at their rnatket value. The Council's exposwe to investrnent kS and Ihe signifuKe of finarKxal instruments to the ongoing financial sustainabilty of the C0clI is eonsidered in the finaLa1 review and stru¢lure, govemance and management seth.rms of the Report of the Ttustees. The maTkel risks lie in the combination of uncertain investment markets and volatilty yield. The liqutdty risk low as the investments are traded in markets vAth gocd liquidity. The credÉt risk 15 low as the undertying assets ofthe pwled arrangement are ring fenced from Ihe pooted manager. The CnClE manage$ the risks by retaInw expttt advisor5 them aware of the Cne[r5 uweslmenl poltcy. Inveslments Inveslments are vaw at the mket vabje at the end of each ffftancial year. Gains and losses on di¥M)sal and revabJatNJn investments are charged or cre(rrted in the statement of financial actNibes. The credit risk ts as the Wing assets of the pcoftng arrangement are Stock and work in progress stock and prow are valued at Ihe of cost net realisle value. Debtors Trade and other debtors are reeogni5ed at the aErwJrlised amount due. Prepayments are valued ai the amount prepaKI net of any trade disc¢xmts due. Cash atbank and In hand Cash at bk and n hand Incl cash is accessible on dem. 14
la company Me£l by guarantee) Directh. rep)rt and ftrlancial s&itements 31 December 2025 Chity Number SCO17485 Notes (¢ontinued) A¢¢ounting policies (conlin{d) Credltors and provlslt>ns Creditors and prowsions are recc3nised where the chaiity has a present obligation resutting from past event that will probably result in a transfer of funds to a third party and the amount due to sede the oblNJation can be measured estiniated reliabty. CreditoTS and provisions are nomMIty recognised at their amorlised amcKmt after allowing for any trade ol$Cc due. Fund a¢Unting trustees. ReSted funds can onty be used for parbcular restrided pwposes wilhin the 019 ofthe charity. Forelgn cUencY translatlon Transactions foreign currenues are re¢ded using the rate of exthange ruling at Ihe date of the transaction. Monetary assets and liabilities denL¥ninated in foreign curreneS are translated using the contracted rale or rate of exchange ruling at the balance sheet date and the gains and bsses on translation are induded in the profft and k)ss accx)tv)L Crftkaloccounllng estlmate8 In the 4>pli(aiTh ofthe charthes. aCcOtirj pc4icies, fv tnBtees requKed b make judgements, estimates arKI assumptions abcKrt the amount of assets and liabHities that are nol readity appaient from ottw sources. The a¢¢nd expenses are estimates. based on htstorical experience and other fact5 thal are eonswjered to be relevant. Actual resutls may differ from these estTrmates. RevisMS lo accounting estimates are re¢ognised in the FWh)d li whi¢** the estimate ts revised where the revision affects that wiod. or in the pwh)d ofthe revision ar#J fuLe where the revtsion affects both Cuent and fijbjre periods. 15
Seott15h Crnl of Law Rewlng la company limited by guarantee) r•ctws' rèpJrt and f6nanclal statements 31 December 2025 Chtrity Numb•r SC017485 Notes (coni¥nued) Resources expended T4)ts1 Total sourcès rosgUT¢eg expended eXpenrt 2025 2024 Cnt pubficallon costs Macfatyen18clwe Website Donallons AccounUrtg f Ind8p8tyJent Examtnefs f•• 106,840 6,579 2232 12,000 10Q840 6,579 6,579 12,000 8.520 1.250 96.053 19,246 7.589 6.IXIO 6.455 {347 4140 1,380 1250 88 2,163 65.675 Insuyancg Secretsry's fv m(slIaneOuS gxpens•s Data Capture Lagal F8è5 1168 2.108 Bo.51• 1718 6A05 10,700 6.150 Total r•soure•s •xpènded 1M050 2030 235.22D 222.269 the year for ther sery1. Taxation The compa)y has charitable sLilus fortrXati Investments 202S 2024 Markot valu• At beglnnhig trfy Di5P05als in year unreal gauls on fnvestmwts R8altsad gan on dlsposal 321.n3 125,0001 13.838 12,957 304.125 17.598 Atd01Y 323.511 321.723 Hl8torleal cg¥t 142.956 155.OOD The investrnents reFYesent fimds wilhNI a Quilter hvestrnent Ace4unL 2024 131,627 122.227 16 SCLR. 1125 A>yJrts 24 C6 264ff IfJmib&2W75&81#>4•2>Q11tKffj5J P• 16119
Scottish C<wnal Lw R•poilng {a ccrfnpany 11m1t by guarantee) threctors. reFQrtand financ1 Statsmonts 31 Decembar2025 CIW SC017485 Notes (continued) Debtors 2025 2024 Creditovs: amounts falling due within one year 2025 2024 Credator8 Accruals Dèfèrrèd income Isee bd¢ 918 3195 5,074 129.745 15,115 2.183 9,915 1.657 122,159 13.445 VAT Ltabilty 154.747 149.359 Defe1CoMe an0tys." Bolance at begtnnkng olyè•r Amounts received in year ounts recogn(sed as Income dumg Ihe J 1.657 15,222 {11.8051 4.560 5,377 18,2801 Balancè al er of year 5.074 1,657 Movement in funds Fund$ •rtslng Total Oeneral fur Rewal Unr•sfrrcted Ger* Fund Balance at beglnntng of y Galn on Tevaluallon {Not• 5} L5 forlheyear 166.723 26,795 248.C65 414.788 2Q795 (13.240) {132401 At •NI olYr 193.518 428.343 R•presentedty, Investments Curr•rt ass8ts Cvrrént liabilibes 193.518 130.LTh) 259.S72 (154.7471 323.518 259,572 {154.74n Totsl a590ts 193.518 428.343 10 Related party disclosures There were no related party transactions or baLances Ihe yw ended 31 Decembw 2025 that would require disdoswe in aceordance with the Charities SORP {FRS11f2}. 17
S¢L*llsh of Law Repong la panY Ilmited by guarant•el txrtctss, wort and financol statem8nl 31 De¢ember2025 Chwity Numbw SC017485 Notes (continued) 11 Financial Instruments 2025 2024 Carrylng amount of fmanclal ass•ts Fwr value thrOh Ic88 323.518 321.723 FinancHI assets m&Ud at vakn throwh profft and IBted invesknents. 18
Henderson Loggie Secure Messaging GTL1E(EKFUIE Certificate Summary 87a4&9L14 Signatures Timeline SK..fv107.>)264tyIW iJ]c 2a261159WUTC Edward4 Carbon Copy Zix 4PThV