Charity Registration No: SC023031 sacro The Sacro Trust The Sacro Trust Financial statements and Trustees, Report For the year ended 31 March 2025 Contents Page5 Report of the Trustees Independent examinerfs report to the rnembers Statement of recelpts and payments Statement of balances Notes to the financial statements Reference and admlni5trative Information Trustees Bankers Bank of Scotland 20-22 Shandwlck Place Edlnburgh EH2 4RN Sollcltors Shepherd & Wedderburn LLP l Exchange Crescent Edinbur8h EH3 8UL lrniestment Company Rathbones Group plc 10 George Street Edinburgh EH2 2PF Charlty re815tratlon no: SC023031 sacro The Sacro Trust Report of the Trustees For the year ended 31 March 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. Strurture governance & management Sacro Trust was established by Trust Deed on 10 October 1994. The management of the Trust is the responsibility of the Trustees who are appointed under the terms of the Trust Deed. Induction of new Trustees is conducted at their first meeting. The administration of the Trust is undertaken by staff members of Sacro. Sacro makes no charge for this service. Risk The Trustees have conducted their own review of the major risks to which the charity is exposed and of the systems in place to mitigate those risks. Where appropriate, actions required to strengthen the existing systems and procedures have been identified and progress will be monitored. An annual review of the major risks faced by the charity, and the systems and procedures in place to deal with those risks, has been undertaken by the Trustees. Objectives The objectives of the Trust are: to use any lawful means to help, support and sustain any person who ha5 been convicted in a court of law of any offence; to provide help and supporting services to families of offenders and ex-offenders; to develop initiatives in all aspects and methods of social crime prevention. Artivities The Trust holds assets with the aim of achieving a sufficient rate of return on its investments in order that net revenues earned may be disbursed to those in need. The charitable activity of the Trust is the making of grants in accordance with the policy outlined below. Grant making policy The Trust invites applications for funding for education/training/employment, household items and for personal development and wellbeing. Appllcatlons must be made on behalf of Individuals by prlson and social workers, local authority or voluntary sector workers. The individual must be resident in Scotland and in the process of rehabilitation. Grants are made at the discretion of Trustee5. Grants will be one-off, made according to need and are unlikely to exceed £300. However, the Trustees will consider grant requests in excess of £300. The Trust stipulates that receipts for purchases must be submitted. Investment policy and performance In accordance with the Trust Deed, the Trustees have the power to invest in stocks, funds, Shares, securities or other investments of whatsoever nature they see fit. Currently the Trust holds a small portfolio of shares and invested capital. The policy is to adopt a low risk investment strategy based on maximising income. The Trustees consider a return of 4%12024: 4%) based on market value of the portfolio to be satisfactory in the current financial climate. An investment manager manages the investments on a discretionary basis. sacro The Sacro Trust Report of the Trustees For the year ended 31 March 2025 Achievements During the year £7,000 {2024: £6,378) was made available by the Trustees for grants in line with its grant-making policy, together with £914 (2024: £4,303} from grants previously refunded, giving a total of £7,91412024: £10,681). There were 41 (2024.. 49) grants paid out in the financial year, totalling £7,963 (2024: £10,808). 15 (2024: 13) of these grants were refunded or partially returned, leaving total net grants awarded by the Trustees in the year of £6,958 {2024: £9,767). Financial information The Trust reports a deficit of £724 for the year {2024: deficit of £3,185) as stated in the statement of receipts and payments. The total net grants paid in 2024/25 decreased by 29¥0 to £6,958 (2024: £9,767) as shown on the statement of receipts and payments. Grants amounting to £1,00512024: £1,041) were refunded or partially returned due to various Changes in circumstances. Excluding proceeds of sale/purchases and market value revaluations of investments the Trust incurred an operatin8 deficit of £2,03512024: deficit of £4,169). Basls of accounts The Trustees elerted that the financial statements would be prepared on the receipts and payments basis in accordance with the Charitie5 & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 (as amended). The Trustees confirm that the assets are available and adequate to meet the future commitments of the charity. Reserves poll¢y The current unrestricted reserve balance of the Trust is £174,107 (2024: £174,831). Reserves are made up of cash in bank and investments as shown on the statement of balances on page 6 and are broken down as follows: 2025 2024 Cash in bank Investments- Cash Investments- Market value Total unrestrlcted reserves 24,536 950 148,621 174,107 25,880 2,231 146,720 174,831 These reserves represent funds arising from past operational results and specific bequests to the Trust. The Trustees consider this adequate to cover operational expenditure and current activities of the Trust. sacro The Sacro Trust Report of the Trustees Foi the year ended 31 Marth 2025 Connected charlty One Trust￿ of the charty is such ex officio by virtue of being Trustees of Sacro. Sacro also provides administrative support to the charity at no charge. The Trust is based at Sacro's registered office at IndepeNlent examlner was re-appointed as independent examiner of the Trust accounts for 2025. Signed on behalf of Trustees on 24 November 2025 rustee sacro The Sacro Trust Independent examinerfs report to the members For the year ended 31 March 2025 I report on the accounts of the Trust for the year ended 31 March 2025, which are set out on pages 5 Respectlve responslbSllties of Trustees and exarnlner The Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) 2005 Art and the Charities Accounts (Scotlandl Regulations 2006. The charity Trustees consider that the audit requirement of Regulation 1011} {dl of the Account5 Regulatlons does not apply. It Is my responslblllty to examine the accounts as required under Section 44(11 (c) of the Act and to stale whether particular matters have come to my attentlon, Basls of Independent examlnerf5 Statement My examination is carried out in accordan￿ with Regulation 11 of the Charities Accounts (Scotlandl Re8ulations 2006. An examination includes a reviewof the accounting records kept by thecharity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure5 in the accounts and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provlde all the evidence that would be requlred in an audit and, consequently, I do not express an audit opinion on the accounts. Independent examinerfs statement In the course of my examination, no matter has come to my attention which gives me reasonable cause to believe that In any material respect the requirements: to keep accounting records in accordan￿ with Section 4411) (al of the 2005 Act and Regulation 4 of the 2(X)6 Accounts Regulations to prepare accounts which accord with the accounting records and cornply with Regulation 9 of the 2006 Accounts Regulations. have not been rnet, or 2. to whlch, In my oplnlon, attention Should be drawn to In order to enable a proper understanding of the accounts to be reached. Date: 24 November 2025 sacro The Sacro Trust Statement of receipts and payments For the year ended 31 March 2025 2025 2024 Notes Income from: Investment Income Income from investments Proceeds from sale of investments Interest on capital account 5.780 22,592 66 6,379 37,783 250 Total in¢ome 28,438 44,412 Expendlture on: Cost of charitable activities Grants paid (6,958) 19,767) Governance costs Independent examinerfs fee Investment administration costs Bank charges Total expenditure (150) (756) 117) (7,881) (150) (866) 1151 {10,798) Gain on sale of investments Gain on movement in market value of investments Purchase of investments 688 1,213 {23,182) 2,137 4,507 {43,4431 Deficit for the year (724) {3,1851 The notes on page 7 form part of these financial statements. sacro The Sacro Trust Statement of balances As at 31 March 2025 Cost 2025 2025 2024 Flxed assets- Investments Investments UK Fixed Interest British Government Bonds Non-Government Bonds Investment Company (Trerseus Flxed Interest North America Emerging Economies International Bond Funds UK Equities Investment and Trust Funds Europe¢7n Equities Europe North American Equitie5 American Japanese EqUit￿S Japan Far East andAustralosian Equities Far East International Equities International UK Property Property Alternotive Assets Hedge Funds Structured Products Infrastructure Cornmodities 21.432 10,208 18,670 21,722 1,352 15,742 15,890 1,266 21,180 10,485 4,599 15,278 10,124 4,939 13,124 2,869 4,872 15,490 12,438 16,521 18,627 2,647 2,677 2,678 14,165 17,892 17,533 3,084 3,030 4,413 4,383 4,392 4,458 5,114 5,033 13,204 10,772 11,305 5,179 ,153 8,527 3,726 146.720 8,041 9,311 3,117 155,550 8,237 7,871 5,121 148,621 Current assets Bank deposit account Investment cash on deposit 24,536 950 25,486 25,880 2,231 28,111 Net assets 174,107 174,831 Funds Unrestricted funds 174,107 174,831 The notes on page 7 form part of these financial statements. Approve Trustees on 24 November 2025 and signed on their behalf by.. sacro The Sacro Trust Notes to the financial statements For the year ended 31 March Z025 l. Basls of accounting These accounts have been prepared on the receipts & payments basis in accordance with the Charities & Trustee Investment (Scotlandl Act 2005 and the Charities Accounts {Scotlandl Regulations 2D06 (as amended). 2. Nature and purpose of funds Unrestricted funds are those that may be used atthe discretion ol the Trustees in furtherance of the objects of the charity, The Trustees maintsin a single unrestricted fund to service the activitie5 of the Trust. Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes. 3. Trustees, remuneratlon and expenses No remuneration or reimbursement of expenses were paid to Trustees in the year for thelr service {2024', £nil), 4. Grants paid During the year Trust awarded 4112024: 49) grant claims to organisations on behalf of individuals which amounted to £7,96312024.. £10,808). 15 (2024: 131 grants were refunded, givinE a net total grants paid in the year of £6,95812024: £9,767) as stated in the statement of receipts and payments. Of the £6,958 grants paid out, £2,47812024: £5,5(Ki) was spent on household Items, £1,57812024: £2,405) on personal development and wellbein8 and £2.902 12024: £1,862) on education and trainin& 5. Related party transaction Trustee,￿￿$ also a partner with the Trust's solicitors, Shepherd and Wedderburn. No transactions took place between either party in the year (2024: None). 6. Investments Fixed asset investments are stated at market value. Any gain or loss in the year is recognised In the staternent of recelpts and payments.