BLAIRS COLLEGE CHAPEL TRUST SCOTTISH CHARITY NUMBER SC025728 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR YEAR TO 31 MARCH 2025 BLAIRS COLLEGE CHAPEL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Charity Number: SC025728 Address: st. Mary's Chapel Blairs, Aberdeen AB12 5YQ Bankers: Bank of Scotland 48 Upperkirkgale Aberdeen AB10 1BA Solicitors: Raeburn Christie Clark & Wallace LLP 12-16 Albyn Place Aberdeen AB10 1PS BLAIRS COLLEGE CHAPEL TRUST TRUSTEES REPORT The Trustees submil their report and the financial statements for the year ended 31 March 2025. Objectives and Activities The objective of the Trust is to provide for the maintenance, upkeep, preservation, extension if required, renovation and repair of the Roman Catholic Church building, known as St Mary's Chapel, Blairs in the parish of Maryculter, Aberdeen, Scotland and for all other purposes in connection with the church building for so long as it remains a place of Catholic Worship. Achievements and Performance During the year ongoing minor works took place to maintain the building in a wind and watertight condition. Necessary testing was carried out to keep the electrical wiring and portable equipment certified as well as annual testing of the Fire Alarm lo ensure compliance with safety and insurance requirements. Financial Review Policy on Reserves The Trustees hold the trust fund and the income thereof to pay out all costs, charges and expenses properly incurred by Ihe Truslees in or about the administration of the Trust. Future Plans The Trustees will continue to look at various options open lo the Trust to ensure it has sufficienl funds lo continue, now that regular conlributions made by both the parish of St Mary's and the Blairs Museum Trust towards the running costs of Ihe chapel have ceased. The Trustees are in discussion with third parties with the aim of securing the future of the chapel. Trustees The trustees are the following office holders of the Roman Catholic Diocese of Aberdeen: Bishop Vicar - General Procurator Right Reverend Hugh Gilbert OSB. - Very Reverend Domenico Zanre - Anthony Layden CMG The Very Reverend James Bell retired from his role as Procurator of the RC Diocese of Aberdeen on 29 February 2024. Structure, Governance and Management Governing Document The Trust commenced on 1 July 1995 and is governed by the Trust Deed dated 1 July 1995. The Trust is a registered Scottish charity, number SC025728. Recruitment and Appointrnent of Trustees The Trustees are ex officio office holders of Ihe Roman Catholic Diocese of Aberdeen. Trustee Induction and Training When new trustees are appointed, they are given an introduction to the work of the trust and provided with the information they need to fulfil their roles, which includes information about the role of trustees and charity law. The existing Irustees have expertence of being charity trustees and any new trustee who lacks experience as a charity trustee is given additional Iraining on the role of Irustees and charity law. BLAIRS COLLEGE CHAPEL TRUST TRUSTEES REPORT CONT'D structure, Governance and Management (cont'd) Organisational Structure The Board of Trustees oversees the Trusl's activities, while day-to-day decisions are delegated to the local group convened by the parish deacon. Risk Managernent The major strategic, business and operational risks applicable lo the Trust have been reviewed and the Trustees confirm that systems are in place to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. The main risk identified again this year by the Trustees related to the lack of funding for the trusts ongoing activities. Consequently, the Trustees continue to look at the options open lo the Trust to secure its future. Trustees Responsibilities Law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the year end. In preparing financial statements giving a true and fair view, the trustees should follow best practice and: select suitable accounting policies and then apply them consistently" make judgements and estimales thal are reasonable and prudent., state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will Gontinue in operation. The trustees are responsible for keeping accounling records which disclose with reasonable accuracy at any time, Ihe financial position of Ihe charity and which enable them to ensure that the financial statements comply with applicable law, regulations and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Contact Address Enquiries should be addressed to: _ st. Mary's House 14 The Chanonry Aberdeen AB24 1RP By order of the Trustees Rt Rev Hugh Gilbert OSB Trustee 11 March 2026 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BLAIRS COLLEGE CHAPEL TRUST I report on the Accounts of the charity for the year ended 31 March 2025 which are set out on the following pages. Respective Responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the Accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibilily to examine the Accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. Basis of Independent Examiner's Statement My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts and seeks explanations from the trustees Con￿rning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the Accounts. Independent Examiner's Statement In Ihe course of my examination. no matter has come to my attention: 1. Which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with Section 44{1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations" and to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met., or 2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Scott M Taylor, MBA CMA. Aberdeen, 9 March 2026 BLAIRS COLLEGE CHAPEL TRUST INCOME AND EXPENDITURE ACCOUNT oratin a STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR TO 31 MARCH 2025 Incor Restricted Funds Unrestricted General Fund Total At 31.3.24 INCOME FROM: Donations £ 10,000 Donations 1,023 £ 1,023 Parish Contributions Gift Aid Refunds VAT Grant TOTAL INCOME EXPENDITURE ON: Charitable Activities 10,052 2,558 4,104 498 General Repairs and Maintenan Running Costs Insuran 4,063 1,338 4,063 1,338 General Expenses Independent Examiners Remuneration TOTAL EXPENDITURE NET INCOMEI(EXPENDITURE) RECONCILIATION OF FUNDS: (5,518) (5,518) TOTAL FUNDS BROUGHT FORWARD £5,910 TOTAL FUNDS CARRIED FORWARD £ 392 392 BLAIRS COLLEGE CHAPEL TRUST BALANCE SHEET AS AT 31 MARCH 2025 Asat 31.3.2024 Notes CURRENT ASSETS £ 2,267 Debtors and Prepayments Cash at Bank £ 1,208 CURRENT LIABILITIES: Amounts due within one year Creditors and Accruals NET CURRENT ASSETS 392 5,910 NET ASSETS £ 392 Represented by: . FUNDS Reslricted Funds Unrestricted General Funds 392 £ 5,910 £ 392 Approved by the Trustees on 2 February 2026 and signed on their behalf by: M(LtL f. & IL* 4 43-- Rt Rev Hugh Gilbert OSB Trustee V Rev Domenico Zanre Trustee BLAIRS COLLEGE CHAPEL TRUST NOTES TO FINANCIAL STATEMENTS FOR YEAR TO 31 MARCH 2025 BASIS OF PREPARATION The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otheNise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Gharity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared on the going cOn￿M basis. This assumption is based upon assurances received from the trustees that it is the intention for the controlling party, the Roman Catholic Diocese of Aberdeen, to provide such assistance as is required to enable the trust to meet its financial commitmenls as and when they fall due. If the trust were unable to continue as a going concern, adjustments would have to be made lo reduce the value of the assets to their recoverable amount and to provide for any further liabilities that might arise. ACCOUNTING POLICIES Heritable Propety The heritable property as detailed in Note 3 has not been included in the accounts. The building is a historic asset whiGh has no ascertainable cost or market value, and the building is not held for use by the charily but is held in trust for the Roman Catholic Diocese of Aberdeen. Incoming Resources All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifls in kind are included at valuation, where Ihis is possible. Resources Expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attribuled to particular headings, they have been allocated to activities on a basis consistent with use of the resources. Charitable aclivities costs are those which directly enable the charity to provide its service. Governance Gosls are costs incurred which do not directly relate to the charities servi￿. Fund Accounting The funds of the charity are held in an Unrestricted General Fund which are used in accordance with the trust's objectives at the discretion of the twstees. Debtors Trade and olherdebtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably iesult ill the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount. BLAIRS COLLEGE CHAPEL TRUST NOTES TO FINANCIAL STATEMENTS CONT'D FOR YEAR TO 31 MARCH 2025 Cash at Bank and in Hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short malurily of three months or less from the date of acquisition or opening of the deposit or sirnilar account. HERITABLE PROPERTY The heritable property owned by the trust consists of the Class A listed church building of St Mary's, Blairs. The heritable property and any additions have not been capitalised as per the above accounting policy note. INDEPENDENT EXAMINER'S REMUNERATION The independent examiner's remLJneration constrtuted an independent exam fee of £nil (2024 - £nil). TRUSTEES, REMUNERATION None of the trustees were paid any remuneration or expenses by the trust during the year (2024 - None). FUNDS Asat 31.03.24 Incoming Resources Resources Ex ended Asat 01.04.25 General Funds £ 5,910 £ 1,023 £ 6,541 £ 392 Restricted Funds - Chapel Repairs £ 5,910 £ 1,023 £ 6,541 £ 392 Restricted Funds - Chapel Repairs A donation of £10,000 received to assist with repairs to marble and plaster in the chapel was agreed to be re-designated to General Funds by the donor in 2023-24. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restricted Funds Total Fund balances at 31 March 2025 are represented by: Current Assets £ 3,454 £ 3,454 Credilors.. Amounts falling due within one year £ 392 £ 392 CONTROLLING PARTY The controlling party of the Trust is the Roman Catholic Diocese of Aberdeen. RELATED PARTY TRANSACTIONS There were no related party transactions in the year.