CHARITY REGISTRATION NUMBER: SC029743
Aberdeen Schools Rowing Association Charitable
Trust
Unaudited Financial Statements
31 March 2025

Aberdeen Schools Rowing ASSOGiation Charitable Trust
FinanGial Statements
Year ended 31 MarGh 2025
Page
Trustees, annual report
Independent examiner's report to the trustees
Statement of financial activities
Statement of financial position
Notes to the financial statements
The following pages do not form part of the financial statements
Detailed statement of financial activities
15
Notes to the detailed statement of financial activities
17

Aberdeen Schools Rowing Association Charitable Trust
Tru8tsea' Annual Report
Year ended 31 MarGh 2025
The trustees present their report and the unaudited financial statements of the charity for the year ended
31 March 2025.
Roference and admini8trative detai18
Registered charity name
Aberdeen Schools Rowing Associabon Charitable Trust
Gharlty regtstration number
SG029743
PrinGipal office
Kiiwhang
15 Arduthie Street
Stonehaven
AB39 2HU
UK
The trustees
(Resigned August 2025)
Independent examiner
obj0cliv￿ and activities
The objects of the trust are:
The promotion and encouragement of physiGal developrnenl of Ghildren, or young person, by providing
facilities for junior rowing.
Aberdeen Schools Rowing Associalion Charitable Trust (ASRACT) provides equipfflent and coaching
for both rowing and Sculling foryoung people up to the age of nineteen. whether or not they are involved
in full-time eduGaticn. Membership is drawn predominantly from North East Primary and Secondary
Schools. All coaching is carned out on a voluntary basis by 8ritish Rowinglscottish Rowing accredited
coaches. ASRACT is a registered service provider to both Aberdeenshire and Aberdeen City Council.
Tne merntsers take pan in weekly training and reguiariy ieature in rinaLS ai Britlsh and Home Iniernational
Chgmpionships.

Aberdeen Schools Rowing Association Charitable Trust
Tru?tee8' Annual Report (cl￿￿Ul{l)
Year ended 31 March 2025
Achievements and perfomunce
The 2024 rjwing season was one of great Suc￿sS dorTEStically, wth multiple wins across a nL'mber of
regattas frorn sll age groups and some outgt3nding perfom)ances. that show promise For future years.
In the performance skje of the Club, 3 Of our girts were successful in being se*ted to represent Great
Britain as follows..
orfo Junior Rowing cnampioiships
Coupe De k Junesse
Our Annu21 Easter training camp was held in Krusz%M¢a (Poland) for the 2nd tirr£ and proved to be very
successful.
Our Sumrner'Leam to RO￿ programs again were hugely successful, with just under 60 young tEople
taklng part and approx. 30 continuino rowing and joining ASRA after the sumrner break.
We have been able to retai
Full time GoaGh) through the continuats'on of our sponsorsnip
Wllh the Drum Property Grouo. In September'23. due to signific2nt fund
d donations
we were able to appoint our first Out Re￿h development coach, wethme
o the ASRA
team.
111 work closely witn the Active Schools Co-ordinators to gain access to various schools
across
area.
Full details can be founo on ASF<ACT Official website - www.asra-r(ywing.co.uk
Financial review
Tha trust received income of £197,734 during the year which represents a de¢rea8e of 12% (2024:
£225,463). After expenditure of £216,591 (2024. £268.400) there is a deficil in the year of £18,857
(2024. deficit of £42.937).
General furds are unrestrlcted funds whlGh are arfaiiabie for use at the ttiscretk)n of the trustees in
furtherance of the general objects of the charity and have not been designated for other purposes.
Total lunds amounted to £463,327 at 31 March 2025 (2024: £502.184).
It is the trusts's policy to maintain sufficient reserves to pay in full all outslanding cornmitmenls. In
aaaition the trustees consider it prudent for the balance of free reserves (totsl unrestricted reseNes less
valua of fixed assets) to represent between one and three month8 of running costs (£8,000 - £24,000).
At the balanGe sheet date fTee reserves were £32.585. the￿fore me reserves policy has been met.
ASRACT conducts annual risk a3se88ments based on its own Health and Safety Policy whiGh wvers
npp.ralinnal anfl prnpropnry prfry.ILifgs for its ackn"vitigÉ. ASP.ACT alco accor,ri ntmlngio ond buJincJJ
risks. Where risks are idontifigj, systems are put in place to mitigate them.
plans for future periods
Our aim for 2025r20 is to maxiffli5e the benefits of our term sponsorship by Kjentifying funaing sources
to match the sponsorship funding and to identify new strategic funding opportunities and raise funds to
enable ASRACT to meet it aims and objectives, by the Gontinuation of its piitnary aGtivities and out reaGh
programs.

Aberdeen Schools Rowing Association Charitsble Trust
Trustses. Annual Report leonffftuqdj
Year ended 31 March 2025
Structure, governanc• and manag•m•nt
ASRACT is a trust which is governed by its Trust Deed. It has been a recognised Scottlsh charty since
17 January 2020 (SC029743).
The tnjstees who served during the period frorn 1 April 2024 to the date of the financial stsiernents were
roved as follows..
Trustees are appointed by èxisting trustees. The number of trustees must akvays be maintained at not
less than thtoe
rhe activities of ASRACT are govemed by the Board of Trustees. The Board meets four times a year
and devolves responsibility for day to day running of the ASRA Conynittee.
The trustees are responsible for the rnaintenance and integrity of the charity and financial inft)rmation
included on the charity's wet)site. LegislatK)n In the Unrted Kingdom goveming the preparabon and
dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees, annual report was approved on 29 ￿tober 2025 and signed on behalf of the board of
trustees by:

Aberdeen Schools Rowing Association Charitable Trust
Independent Examinerf8 Report to the Trustee3 ofAberdeen 8Ghool3 Rowing
Association Charitable Trust
Year ended 31 March 2025
I report to the trustees on my examination of the finanGial staternents of Aberdeen Schools Rowing
Associatson Charitable Trust I'the charity,) for the year ended 31 March 2025.
Responsibilities and basls of report
As the trustees of the charity you are ￿spOnSible for the preparation of the financral ststements in
acGorOance with the requirements of the Chantses and Trustee Investment (Scx)tland) Act 2005 (the
'2005 Act'l and the Charities Accounts (Scotland) Regulab'ons 2006 (as amended). You are satisfied
that your Gharity is not required by Gharlty law to be au(Jiteo an¢J have chosen Insteaj lo have an
independent examination.
I report in respect ot my examination oi the cnarity's financial statements as carried out under section
4411)(c) of the 2005 Act. In c2rrying out my examination I have followed the requirements of Regulation
11 of th¢ Charities AGf)Junts (&olland) Regulations 20Cfj (as amended).
Ind•p•ndont 0xamin•￿8 stat•m•nt
Since the chan'ty has prepared its accounts on 2n accruals basis your examinèr must be a member of
a body listed in Regulation 11 (2) of the Charities A¢￿Unts (Scotland) Regulations 2006 (as atnend&J).
I can confirm that l am qualified to undertake the examination be(3use l am a registered member of
ICAS which is one of the listed bodies.
I have completed my examination. I confimi that no matters have come to my attention giving me cause
to believe that in any material resp8Ct.'
accounting records were not kept as required by secb'on 44(1){a) of the 2005 Act and
Regulation 4 of the Charrtie8 Accounts (Scotland) Regulations 2008 (as amended),. fx
the financial statewÉnts do not accord with those records,. or
the financial State￿EntS do not ￿rnpty with the accounts.ng requirements of Regulation 8 of
the Charities Accounts (Scotland) Regulations 2006 (as amended).
I have no concems ana nave come across no other matters in cOnn￿tIon with the exarnination to which
attention should be drawn in this report in Order to enable a proper understanding of the accounts to be

Aberdeen Schools Rowing A550ciation Gharitable Trust
Statement of Financial Activities
Year ended 31 March 2025
2026
Unrestricted
funds Total funds Total funds
2024
Income and endowments
Donations and legacies
Other trading activities
Total income
120,383
77.351
120,383
77,351
138,344
67,119
197,734
197,734
225,463
Expenditure
Expenditure on raising funds..
Costs of other trading activities
Expenditure on charitable activities
Other expenditure
Total expenditure
12,558
226,318
(22,285)
216,591
12,558
226,318
(22,285)
216,591
19,082
252,518
(3,200)
268,400
Net expendlture and net movement In funds
{18,857)
(18,857)
(42,937)
Reconciliation of funds
Total funds brought forward
Total funds carried fonmard
502,184
483,327
502.184
483.327
545,121
502.184
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Thè fiotes on pagos 7 to 13 fomi part of these financial statements.

Aberdeen Schools Rowing Association Charitable Trust
Statement of Flnanclal Position
31 March 2025
2028
2024
Flxed assets
Tangible fixed assets
14
450,741
495,573
Currént ag#•ts
Debtors
Cash at bank and in hand
15
1.949
36.008
1,949
13.280
37,957
15,229
Creditors: amounts falling duo within one year
Net current assets
16
5.371
8.618
32,586
483,327
6,611
532,184
T•￿1 a83ets less Gurrent Itabilities
Net assets
483.327
502.184
Funds of tho charity
Unrestricted funds
483,327
483.327
502,184
Totsl charfty funds
17
502,184
These finanGial ststements Y4ere approved by the board of trustees and aulhorised for issue on 29
October 2025. arKI are sign&rf on behalf of the lThrd by:
The notes on pag88 7 to 13 forni part of th•se financial otatamant8.

Aberdeen Schools Rowing Association Charitable Trust
Notss to th8 Financial Statem8nts
Year ended 31 March 2025
G•noral inf0rn7ation
The tharity is a public ben8fi1 entity gnd 2 rp.
The address of the prinopel office 18
1g+pr￿ charity in Seotland and ig unincorporated
'Iwhan9, 15 Arduthie Street, Stonehaven,
AB39 2HU.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Stan(iard applicable in the UK an(1 the RepurJic of Ireland.. the Statement of
Recommended Practice applicable to chanties preparing their accounts in accordance with the
FinanGial Reporting Slandard appliGable in the UK and RepubliG of Ireland (FRS 102) (Charities
SORP (FRS 102)) and the Charities and Trustee Investrnent (Scotland) Act 2005 and the Charity
Ac¢ouTrts {S￿tI￿nd) Regulath?ns 2006 (as amended).
Accounting poliei8g
Employee benerts
The cost of any unused holiday entiuement is recognis¢d in the period in whiGh the emFloyee's
seNices are receNed.
Tem)inalion benefits are recognised immediately as an expense when the trust is demonstrably
committed lo terminate the employment of an employee or to provide terrnination benefits.
Ba818 of preparatlon
The financial statements have been prepared on the historical cost basis, 88 modified by the
revaluation of certain financial assets an¢J 1Otsilities and Investrrent propernes measureo at fair
value through ineoma or oxpenditure.
The financial statements are p￿pared in sterfing. which is the ￿nth0nal (yjrrency of the entity.
Going concern
At the time of approving the financial State￿ents, the trustees have a reasonable expectation that
the trust ha5 adequate resouiGe5 io Gontinue in operational existen￿ for at least the next 12
months and have not idenb'fi*l any matèrial uncertainb'es regarding the ability of the charity to
continue. Thus the trustees continue to adopt the going c￿Cern basts of accounb'ng in the
preparing the accounts.
DI3Glosure exemptions
Thé antity sati6fiè611i*1 tsi'il¥ii&4 uf l￿111Y Él 4U<41ifyii iy ¥iilily d¥fiiipJd ili FRS 102.

Aberdeen Schools Rowing Association Charitable Trust
Notes to the Flnanclal Statements Iconllnuedj
Year ended 31 March 2025
Aceountlng polleles (conllnu•d)
Judgements and key sources of estimation uncertainty
In the application of the trust's accounting policies, the trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions 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 in the period in which the estimate is revised
where the revision affects only that period, or in the period of the revision and future periods where
the revision affects both current and future periods. The trustees Gonsider that the following critical
estimates and judgements have significant risk of causing a material adjustment to the carrying
amount of assets and liabilities:
The depreciation and residual value of the tangible fixed assets are estimated to the best of the
Trustees knowledge.
Fund aeeounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes, unless the funds have been designated for other purposes.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlemen.¢ bas
passed to the charity., it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income..
inGotne frotn donation5 or grants is recognised wnen there Is eviaenGe of entitlement to tne
gift. receipt is probable and its amount can bÉ mÈasur@d reliably
legacy income is recognised when receipt is probable and entitlement is established.
inGome from donated goods is measured at the fair value of the goods unless Ihis is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and Services are reco9nised in the aGcounts
when re￿iVed if the value can be reliably measured. No amounts are included for the
contribution of general voluntaers.
income from contracts for the supply of services is recognised with the delivery of the
contracted Servi￿. Thi3 13 ¢la88ified as unrestricted funds unle33 there is a GontraGtual
requirement for It to be spent on a particular purpose and returned if unspent. in which case
it may be regarded as restricted.

Aberdeen SGhools Rowing Association Charitable Trust
Note3 to the FinanGial Ststsments (contlnued)
Year ended 31 MarGh 2025
Aceountlng polici88 (e<)ftllnved)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the statement of financial
activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries. including those
support costs and costs relats.ng to the governan￿ of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity
nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable. justifiable and consistent basis.
Tangible assots
Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated
dépreciation.
Depreciation
All assets costing more than £100 are Gapitalised.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic life of that asset as follows:
Freehold property
Plant and machinery
rthotor vehicles
40A straight line
33 /0 reducing balance
33% reducing balance
Impairment of fixed assets
A ￿VIeW for indicators of impairment IS Garried out at each reporting date, with th¢ r¢Goverable
amount being estimated where such indicators exist. vVThe￿ the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.

Aberdeen Schools Rowing AssoGiation Charitable Trust
Note8 to the Financial Statements (¢onDnueaJ
Year ended 31 MarGh 2025
Accounting policies Icontlnuedj
Financial instruments
The trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and bank balan￿$. are measured at transaction price
including transaction Gosts.
Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.
Derecognition of financlal Ilabilities
Financial liabilities are dewognised when the trust's contractual obligations expire or are
dischargea or canceiied.
Donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Donations
Gift Aid ReCOve￿d
Memberships
Members, contributions
Other donations including eyAYF
6,570
1g,975
54,036
39.802
6,570
19,975
54,036
39,802
10.368
19,065
47,310
58,502
10.368
19,065
47,310
56,502
Grants
Other
5,099
5,099
120,383
120,383
138,344
138,344
Other trading activities
UnrestriGted Total Funds Unrestricteu Total Funas
Funds
2025
Funds
2024
Rowing project
Fundraising events
34.314
43,037
77,351
34.314
43,037
77,351
42,700
44,419
87,119
4? 700
44,419
87,119
10

Aberdeen Schoo15 Rowing A550ciation Charitable Trust
Notes to the Financial Statements (contlnued)
Year ended 31 March 2025
Costs of oth•r trading activiti•s
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Costs of other trading activities
Fundraising, publiGity and trading
costs
Costs of other trading activities -
staging events
Charitable activities
11.425
11,425
15,319
15.319
1.126
1.126
3.713
50
3,713
50
12,558
12,558
19,082
19,082
Expenditure on charitable aetivities by fund type
Unrestncted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Charitable activities
Support wsts
221,771
4.547
221,771
4,547
248.317
4,201
248,317
4,201
226.318
226,318
252,518
252,518
Expenditure on charitable activities by activity type
Activities
undertaken
directly
Support Total funds
costs
2025
Total fund
2024
Gharitable aGtivities
Governance costs
221,771
221,771
4,547
248,317
4,201
252,518
4,547
221.771
4,547
226,318
other expenditure
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
(profit)Iioss on (Jisposai Of tangit)ie
fixed assets held for charity's own use
{22.285)
(22,285)
(3,200)
(3,200)
10. Net expenditure
Net expenditure 18 8tated after Charging1(C￿dit1ng>'.
2025
2024
Depreciation of tangible fixed assets
Gains on disposal of tangible fixed assets
76,556
(22,285)
83,706
(3,200)
11

Aberdeen Schools Rowing Association Charitable Trust
Notes to the Financial Statements (Gonunuvd)
Year ended 31 March 2025
11. Independent examination fee8
2025
2024
Fees payable to the independent examiner for..
Independent examinats.on of the financial statements
4,547
4.200
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
Wages and salaries
38,316
30,871
The average head count of employees during the year was 2 {2024: 2)
No employee re￿iVed employee benefits of more than £60,000 during the year (2024: Nil).
13. Trustee remunoration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees.
During the year trusteÈs made donations of £44.7g5 (2023: £44.000) to the trust.
14. Tangible fixed assets
Freehold
propety
Plant and
machinery
Motor
vehicles
Total
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
541.137
664,191
3,169
(3.500)
663,860
51,493
33,645
(14.542)
70,596
1,256,821
36,814
(18.042)
1,275,593
541.137
Dopraeiation
At 1 April 2024
Chgrge for the year
Dispos415
At 31 March 2025
186.100
21,648
528.019
44,612
(2,719)
569.912
47.129
10,298
(10,233)
47.194
761.248
76,556
(12,952)
824 852
207.746
Carrying amount
At 31 March 2025
333,391
93,948
23,402
450,741
495.573
At 31 March 2024
355,037
136.172
4.364
1S. D•btor6
2025
2024
Prepayments an¢J accrued income
1,949
1,g4g
12

Aberdeen Schools Rowing AssoGiation Charitable Trust
Notes to the FinanGial Statements (conrinued)
Year ended 31 MarGh 2025
16. Creditors: amounts falling due within one yéar
2025
2024
AcGruals and deferred income
5,371
8,618
17. Analysis of charitable funds
Unrestricted funds
At
31 March 20
25
At
1 April 2024
Income Expenditure
General funds
502.184
197,734
(216,591)
483,327
At
31 March 20
24
At
1 April 2023
Income Expenditure
General funds
545,121
225,463
(268,400)
502,184
18. Analysis of net assets between funds
Unrestricted Total Funds
Funds
2025
Current assets
483.327
483,327
Unrestricted Total Funds
Funds
2024
Current assets
502,164
502,184
13

Aberdeen SGhools Rowing Association Charitable Trust
Management Information
Year ended 31 MarGh 2025
Thv following pages do not fo￿ part ol the flnanGlal statements.
14

Aberdeen Schoo15 Rowing Association Charitable Trust
Detalled Statsment of Financlal Actlvlties
Year ended 31 March 2025
2025
2024
Income and endowments
Donations and legacies
Gift Aid Recovered
Memberships
Members, contributions
Other donations including GAYE
Other
6,570
19,975
54,036
39,802
10,368
19,065
56,502
5,099
120,383
138,344
Other trading activities
Rowing project
Fundraising events
34,314
43,037
42,700
44,419
77,351
87,119
Total income
197.734
225,463
15

Aberdeen Schools Rowing Association Charitable Trust
Detailed Statement of FinanGial AGtivities (coniinued)
Year ended 31 March 2025
2025
2024
Expenditure
Costs of other trading activities
Light and heat
other office costs
Other fundraising costs
1,126
3,713
50
15,319
11,425
12,558
19.082
Expenditure on charitable activities
Wages and salaries
Launch petrol
Insurance
Other establishment
Motor vehicle expenses
Other motoritravel costs
Legal and professional fees
Telephone
Depreciation
Boat spares and repairs
Diesel
SARA fees and licences
Boathouse sundries
38,316
247
18,448
714
11,874
18.161
43,385
30.871
437
17,632
1,574
10,993
13,231
50,429
25,821
83,706
6.486
8,224
510
2,604
76,556
5,954
8.985
510
3,168
226.318
252,518
Other expenditure
(Profit)Iloss on disposal of tangible fixed assets held for charity's own use
(22.285)
(3,200)
Total èxpenditure
216,591
268,400
Net expendlture
(18,657)
(42,937)
16

Aberdeen SGhools Rowing A550Giation Charitable Trust
Notes to the Detsiled Ststement of Flnanclal Actlvltles
Year ended 31 MarGh 2025
202S
2024
Costs of other trading activities
Costs of other trading activities - Fundraising* publicty and trading costs
Other fundraising costs
11.425
15,319
Costs of other trading activities - Stsging events
Staging events- light & heat
1,126
3.713
Charitable activities
Bank charges
50
Costs of other trading activities
12,558
19,082
sp•Mditure on charitable activities
Charitable aetivities
Activities undertaken directly
Staff costs
Launch petrol
Insurance
Other charitable expenditure
Molor vehiGle repiaif5
Regatta fees
Regatta expenses
Regatta accommodation
Depreciation
Boat spares and repairs
Diesel
SARA fee3 and liGenGes
Boathouse sundries
38,316
247
18.448
714
11,874
18,161
38,838
30,871
437
17.632
13,231
46,228
25,821
83,706
6,486
8,224
510
2,604
76,556
5.954
8,985
510
3,168
221,771
248,317
Governance costs
Governance costs - accountancy fees
4.547
4.201
Expenditur• on charitabl• activltlo8
226,318
2S2,518
17