Registered number: SC240234 Charity number- SC033927 THE HEARTS AND BALLS CHARITABLE TRUST (A company limited by guarantee UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Armstrongwatson. Accountants, Business & Financial Advisers
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) CONTENTS Page Rafèranca and administrative datails of the Charity. its Trustses and advisers Tru$tsos' roport Independent examlner's report Statement of financial activities Balan¢• shoot Notes to the Ilnanclal $tatsmènts 10-24
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 NOVEMBER 2025 Tw$tg9$ H D M3cLennan. Chair Bell. Vice Chair G Fi3ken A Haqart Iresioned 19 November 20251 V A Mendelssohn GSRae S J Taylor F D Wallace J D G Wilson J Ferguson (appointed 19 November 2025) J A H Gow (appointed 1 April 20261 Company r8gSst8red number SC240234 Charlty r•glgtsr number SC033927 Rgglstsred offi¢e Caledonian Exchange 19A Canning Street Edinburgh EH3 8HE Company Secretary GSRae Ind•p•nd•nt •xamSn•r Armstrong Watson LLP Chartered Accountants 89 Seaward Street Glasgow G41 1HJ Sollcltorg Lindsays Caledonian Exchange 19A Canning Street Edinburgh EH3 8HE Page 1
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 3D NOVEMBER 2025 The Iruslees present their report and financial statements for the year ended 30 November 2025. The financial statements have been prepa in accordance wth the a¢¢oLJnting policies set out in note 1 to the financial statements and comply the charitable company's Memorandum and Articles of Association. the Companies Act 2006, the Charitses and Trustee Investment (Scotlandl Act 2005, the Charities Accounts (Scollandl Regulations 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic tsf Ireland" I'FRS 102,1 and ' Accounb"ng and Reporb"ng by Charitie5 Slalemenl of Recommended Practice applicable lo charities preparing their accounts in a¢¢ordan¢e wlh the Financial Repong Stsndard applicable in the UK and Republi¢ of Ireland IFRS 1021 (effective 1 January 20191.. Since the Charity qualifie5 as small under section 382 of the Companies Act 2006. the Strategic report required of medium and large companies under the Companies Act 2006 Islralegic Report and Directors, Reporti Regulations 2013 has been omitted. Objec¥¥8 and actlvltS•1 Principal activity The principal activity of the Charity in the year under review was Ihal ol relieving poverty. sickness and distress by charitable means, including, in particular, Seeking to meet the need$ of persons wth physical and mental disability thal has arisen as a result of a sports injury from playing rugby. The charity will also promote safe practice within the sport as a means of preventing injury or mental health issues. Page 2
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2025 A¢hlovom•nts and perfomianco a. Main achievements of the Charity The main area of Charitable activity is the provision of direct support to individuals. and their families. in dealing wth serious injury sustained playing njgby. During the year the Charity'5 activrties and reserve5 allowed grants lolalling £85.82912024 - £27.6001 to be made. The Iruslees made a conscious decision to increase the level of grants made, due in large part lo its strong financial position. During the year the Charity also amended ils Att'¢les of Asso¢ialion lo allow greater flexibility in addressing well-being issues and fvnding prevention of injurie$ in addition to its primary focus of dealing with injuries arising directly from game tsme. The Hearts & 8alls MB affiliated rugby club Comprises both mens and womens teams and provides marketing of the charity via social media, press and in person al numerous sevens loumamenls. 11 also engages a younger audience in the charity's WeW8 activities and fvndraising. The nel result of sponsorship income, donations and operational expenses was a surplus 01 £3,44512024 - surplu$ of £4,919). The charity continues to hold a goll day in memory of the late Jim Taylor MBE, a b'reless and inspirational ambassador fer the charity. In 2025 this event raised a nel £5.291 in fvnds as well as building relationships with sponsors, supporters and raising the profile of the charity. The charity also continues to hold an annual rugby match in December al the Oriam complex in Edinburgh in memory of Jim Taylor and in 2025 this match also remembered lan M¢Lauchlan OBE, a fornier Chair of Ihe charty. On the fundraising front, increased awareness and an enhanced organisation profile, particularly across social media channels, are beginning lo generate positive retums. In addition, a brand video has been produced in conjuncture with Edinburgh College. lealuring a voiceover gfaleftjlly provided by commenlalor Andrew Colter, 11 is anticipated that this wll further strengthen brand recognition. The charity also received a legacy of £25,000 from the estate of the late Peter Baxter. who although based in England, had strong Scottish connections and a lifelong interest in nfjby. The board continues lo strengthen ils expertise. wth the addon in 2025 of Professor James Ferguson, who brings a wealth of medical experience lo the charity. The charity continued to support injured players and their families, including providing fund5 for exercise equipment, accessibility improvements to housing and enabling players to attend sporting fvnctions. Grants were also given lo Corslorphine and Kelso rugby clubs lo fund the installation of accessible lifts in their clubhouses. The charity also look part in an inrtiaknve Scoth"sh Rugby vthich resulted in the instsllalitsn of over 30 defibrillators in rugby ¢lubs across the country. wth a lolal investment of over £33,000 funded by the charity. Many of the defibrillators are installed outside Clubhouses meaning they are available to the wder local communities to enhance safety. Flnan¢lal revlew *. Going concern After making appropriate enquiries. the Trustees have a reasonable expectats'on that the Charty has adequate resources to continue in operational existence for the foreseeable fiiture. For this reason, they continue to adopt the going concern basis in preparing the financial ststements. Further details regarding the adoption of the going concern basis can be found in the accounting lIcieS. Page 3
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2025 b. Rovl•w of th• y•ar For the year ended 30 November 2025 the charity generated a net deficit of £35,33112024 nel deficit of £1,815). As al 30 November 2025 the charity had nel assets of £365,13412024- £400,465). Donations for the year ending 30 November 2025 have increased to £60,561 compare¢J wlh previous year of £33,094. c. Ro$orV Poll¢y 1 OOOA of the reserves are held as unresth.cted lunds and at the balance sheet dale these amounted lo £365,134 12024- £400,4651 11 is the poli of the Charity that unre$lricted funds Ithich have not been designated for a spe¢ifi¢ use should be maintained at a level sufficient to allow the Charity to react swftly and effectively to players, needs in the aftemialh of a catastrophic injury. Such actions cannot be foretold and thus balance5 are held in readiness. In addition, funds are held lo meet periodic calls for significant sums from players already living wrth lrfe Changing injuries and whose quality of life would suffer wilhoul inlervenb.on from the Charity. When the trustees sense that reserve$ are suffi¢ienl to meet the above, $upport. under the guidance of Scottish Rugby, is now being offered to rugby clubs lo help improve accessibilty to rugby facilities for players and the rugby community. When considering grant applications to the Sustainability Fund, due diligence is undertaken by Scottish Rugby. The organised activities of the Charity maIn relatively limrted and a fom)al review of risks has not taken place. Inlemal ¢ontrol ri$ks are minimise¢J by procedures for aulhorisalion of all transactions and project$ anty by regular meetings of the trustees for the purpose of ensuring good govemance. Structur•. governance and management *. COnstituon The Hearts And Balls Charitable Trust 1$ registered as a ¢harrtable company limited by guarantee and was sel up by a Memorandum of Association. The Company is limited by guarantee and does not have share capital. The liability of the guaranloTS in the event of a wnding up is £1. The Company has charitable slalus. b. Methods of appolnlment or elKtlon of Tru$tse$ The management of the Charty 15 the responsibilty of the Trustees are elected and CCtrOPted under the terms of the Memorandum of Association. Page 4
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2025 Statsm•nt of Trust¢•s' r•spon$lbiliti•s The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Truslee5' report and the financial stslemenls in accordance with applicable law and United Kingdom Accounts'ng Standards IUnrte(l Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees lo prepare financial statements for each financial year. Under company law, the Tru51ee5 mu51 not approve the financial statements unless they are satisfied that they give a true and fair view of the stsle of affairs ol the Charity and of its incoming resources and application of restsurces. including ils income and expendrftu. for that period. In preparing these financial ststements. the Tru$lee$ are required lo.. select suitable accounting policies and then apply them consislenuy." observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent.. stsle whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject to any material departures disclosed and explained In the financial statements., prepare the financial slalements on the going concem basis unless il is inappropriate lo presume that the Charity wll continue in business. The Tru$lee$ are responsible for keepng adequate accounts.ng records that are suffioenl to Show and explain the Charity's transactions and disclose wrth reasonable accuracy at any lime the financial position of the Charity and enable them lo ensure that the financial stslemenls comply with the Companies Act 2008, the Charities and Trustee Investment Iswtlandl Act 2005 and the Charities Accounts IS¢ollandl Regulations 2006 la$ amended). They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees arKI signed on their behalf by.. HD MacL•nnan Trustèe Dale. 1010712026 Page 5
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 NOVEMBER 2025 Indop•nd•nt •xaminer's report to the Tru$t¢os of The Hoarts And Balls Charitsblo Trust I report on the accounts of the charity for the year ended 30 November 2025 which are set out on pages 7 10 24. R8sp8ctiv• r8sponsibiliti8s of Trustsos and 8xamiMr The trustees, who are a150 directors of the company for the purposes of company law. are responsible for the preparation of the financial statements in accordance the tems of the Charities and Trustee Investment (Scotlandl Act 2005 I'the Act'l and the Charities Accounts Iscotlandl Regulation 2008 Ilhe Accounts Regulations'l. The trustees consider that the audit requirement of Regulation 1011llal to Icl of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under sects'on 4411llcl of the Act and lo stale whether particular matters have come lo my attenb'on. Basis of independent examinerfs statemont My examination was carried out in accordance regulab.on 11 of the Accounts Regulations. An examination includes a review ol the accounting records kept by the charity and a comparison of the financial slalemenls presented those records. It also includes ¢on$ideration of any unusual items or dis¢losures in the financial statements, and seeking explanalions from you as trustees concerning any such matters. The procedures undertaken do not provide all Ihe evidence that would be required in an audit, and consequendy I do not express an audit opinion on the view given by the accounts. Ind•p•nd•nt •xam5n•r's 8tatsm•nt In the course of my examination, no matter has come to my attentson.. which gives me reasonable cause lo believe that in any material respect the requirements.. to keep a¢untIng rerdS in acrdance seth'on 4411 Ilal of the Act and regulats'on 4 of the Atcoun15 Regulatsons., and to prepare finan¢ial statements %thi¢h accor(I vAih the accounting records, Accountr'ng and Reporting by Charities preparing their accoun15 in accordance with the Financial Reporting Stsndard in the UK and Republic of Ireland IFRS 102) and in other respects comply wlh regulats'on 8 of the Accounts RegulatnS have not been mel.. or lo whi¢h. in my opinion, attention Should be drawn in order to enable proper understanding of the financial stslements lo be reached. This report Is made solely lo the charity's Trustees, as a body, in accordance with regulation 11 of the Charitie5 Aecounts (Scollandl Regulations 2006. My work has been undertaken so that I might slate Its the charity's Trustees those matters l am reqUId to slate lo Ihem in an Independent examine¢s report and for no other purpose. To the fullest extent pemirtted by law. I do not aept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Signed. Karen Rae FCCA DChA Karen Trae.'Jul 10 2026 11 42 29 GMT+II Dated 1010712026 Armstrong Watson LLP Charted AuntsnIs 89 Seaward Street Glasgow G41 1HJ Page 6
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 NOVEMBER 2025 Unr•strlctsd funds 2025 Total funds 2025 Total funds 2024 Income from: Donations and 9ifts Charitable acliwbes Inveslrnents 60.561 14,591 17,031 60,561 14,591 17,031 33,094 12,810 11,828 Total incom8 92,183 92,183 57, 732 Expondlture on: Charitable acliwbes 127,621 127,621 59,547 Total oxpondltur¢ 127,621 127,621 59,547 Not oxpondlture boforo n•t galns on Snv•slm•nts Net gains on investments 13S,4381 107 135,4381 107 (1,875? Not movement In fund• 135,3311 135,3311 (1,815? R•conclllatlon of fund8: Total funds brought forward Nel movement in fvnds 400,465 13S,3311 400,465 135,3311 402,280 (1,815) Total funds carried forward 365,134 365,134 400,465 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 24 forni part of these financial statements. Page 7
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) REGISTERED NUM8ER: SC240234 BALANCE SHEET AS AT 30 NOVEMBER 2025 2025 2024 Mole Fixed assets Intangible assets Tangible assets Inve51ment5 12 103 311 13 252.SSO 252,6S3 313 Current assets Stocks Debtors Cash al bank and in hand 14 4.284 11,078 111,753 5,489 921 410,696 15 127.115 417,706 Current Ilabllltlos Creditors.. amounts falling due within one year 16 {14.6341 (16,954) Not current assets 112,481 400, 152 Total net assots 365,134 400,465 Charity funds Reslricled funds Unrestricted funds 17 17 365,134 400,465 Total lund8 365.134 400,465 Page 8
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) REGISTERED NUM8ER: SC240234 BALANCE SHEET (CONTINUED) AS AT 30 NOVEMBER 2025 The Charity was enlilled lo exemption from au¢Jit under section 477 of the Companies Act 2006. The members have not Tequired the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees ackno%edge their responsibilib.es for complying wth the quireMentS of the Act with respect lo accounting records and preparation of fina1¥1 ststements. The financial statements have been prepared in accordance wlh Ihe provisions applicable to entities subject to the small companies regime. The financial slalemenls were approved and authorised for issue by the Trustees and signed on their behalf by., H D MacL•nnan Trustee Dale. 1010712026 The notes on pages 10 10 24 form part of these financial slalements. Page 9
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Accounting poli¢i•s Charity inforniation The Hearts and Balls Charitable Trust is a charitable company limrted by guarantee incorporated in Scoand. The charitable company is registere<l wth OSCR. The registered office is Caledonian Exchange, 19A Canning Street, Edinburgh, EH3 8HE. 1.1 8asis of preparation of financial statements The finanual statements have been prepad in accordance th the Charities SORP IFRS 1021- Accounting and Reporting by Charities". Stalement of Recommended Practice applicable lo charities preparing their accounts in accordance the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191. the Financial Reporting Standard applicable in the UK and Republsc of Ireland IFRS 1021 and the Companies Act 2006. The Hearts And Balls Charitsble Trust meets the definth'on of a public benefit enlily under FRS 102. Assets and liabilities are inrtially recognised al historical cost or transaction value unless otheise stated in the relevant accounting policy. 1.2 Golng conc•m At the lime of approving the accounts, the TN$lee$ have a reasonable expe¢tation that the charitable company has adequate resources to ntinUe in operational existence for at least the next 12 months. Thus the Trustees continue lo adopt the going concern basis of accounts'ng in preparing the accounts. 1.3 Charitablè funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unl8$s the lund$ have been designated for other purpo$e$. 1.4 Incomo All ineome is recognised once the Chanty has enlthmenl to the income. il is probable that the income wll be received and the amount of income receivable can be measured reliably. Cash donations are recognised on receipt. Other donabons are recognised once the charitable company has been notified of the donation, unless performance condition5 require deferral of the amount. Income tsx recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised al the lime of the donation. Income from trading aCti¥'eS indudes income eamed from fundraising events to raise funds for the charity and is recognised when ents'tlement has occurred. In¢ome tax recoverable in relab.on to investment income is renised al the ts.me the investment income is receivable. 1.5 Expgnditura All expenditure is induded on an accruals basis and is recognised when there is a legal or conslruclive obligatson to pay for expendrture, rt is probable that a transfer of economic benefits will be required and the amount can be MeaSud or estsmated reliably. The charity is not registered for VAT and accordingly expenditu is Shown indusive of irreVe[ab1e VAT. Page 10
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Accounting poli¢io5 Icontinu•d} 1.5 Expenditure (continued) Raising funds comprises the costs associated wth attrath.ng donats.ons and the costs of income generation. Grants payable are charged in the year when the offer is made except in those cases ere the offer is conditional, such grants being recognised as expenditure when the conditions attaching are Illed. Grants offered subject to conditions which have not been mel al the year end are noted as a commrtmenl, but not accrued as expendrture. 1.6 Internst r8ceivab Interest on funds held on deposit is inclLKled when receivable and the amount can be measured reliably by the Chanty," thi5 is normally upon notification of the interest paid or payable by the inslilulion wth whom the funds are deposited. 1.7 Intsngiblo a$¥gts and amortl$allon Intangible assets acquired separately from a business are reco9nised al cost and are subsequently measured al st less 4c¢umulaled amortssalion and accumulated impairment losses. Amortisalion is recognised so as to write off the cost or valuatson of assets less their residual values over their u$efvl lives on the foll¢)wing bases.. Arnortisation is provided on the following basis.. Website 25 % straight line 1.8 Tanglble fixed assets and depreclatlon Tangible fixed assets costing £500 or more are capitalised and recognised when fijture economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised al ¢osl_ After recognrtion. un¢Jer the cost model. tangible rixed assets are measured at cost less aCmUlated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condits'on should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tsngible fixed assets less their residual value over their eslimaled useful lives. using the straighl-line method. DepreatIOn is provided on the following basis.. Plant and machinery 25% Straight line 1.9 Invoslments Fixed asset investments are a form of finanaal instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case rt Is MeaSud al cost le55 impairment. Investment gains and losses. vthelher realised or uniealised. are combined and presented as 'GainsllLossesl on investments, in the Statement of financial activities. Page 11
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Accounting poli¢io5 Icontinu•d} 1.10 stocks Stocks are slated al the lower of cost and esb"maled selling price less costs to complete and sell. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.11 Dèbtorn Trade and other debtors a recognised al the seltlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.12 Cash and cash •quivahnts Cash and cash equivalents indude deposrts held at call wlh banks. 1.13 LiabSlltS0s and provlsions Liabilities are reco9nised vthen there is an obligation al the Balance sheet date as a result of a past event. il is probable that a transfer of eeonomic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that Ihe Charrty anlicip*es il wll pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 1.14 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial in$trumenl$. Basic financial in$lrumenls are initially recogni$ed al Iran$aclion value and subsequently measured at their settlement value wth the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 12
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Accounting poli¢io5 Icontinu•d} 1.15 Fund accounting General lunds are unrestrted funds which are available for use at the discreb.on of the Trustees In furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Page 13
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Accounting poli¢io5 Icontinu•d} Income Irom donation$ and legacles Unr8strict8d funds 2025 Total funds 2025 Donations and gifts Legacie$ 35,561 25,000 35.561 25,000 60,561 60.561 Unrestricled funds 2024 Total funds 2024 Donations and gifts 33,094 33,094 Page 14
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Income from charitable activities Unrgstrictad funds 202S Total funds 202S Sevens Income Jim Taylor Golf Day 9,300 5,291 9.300 5,291 14,591 14.591 Unreslricl8d funds 2024 Total funds 2024 Sevens Income Jim Taylor Golf Day 8,550 4,260 8,550 4,260 12,810 12,870 Inve$tmgnt Income Unrèstrict•d funds 202S Total funds 2025 Income from local listed investments Bank Inte$1 2,442 14,589 2.442 14.589 17,031 17.031 Unrvstilcted funds 2024 Total funds 2024 Bank interest 11,828 11,828 Page 15
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Analysis of grants Grnnts to Individuals 202S Total funds 202S Grants to individuals Sevens expenses 85,829 5,855 85.829 S,BSS 91,684 91.684 Grants to Individuals 2024 Total funds 2024 Gfants to individuals Sevens expenses 27,600 3,631 27,600 3,631 31,231 31,231 Page 16
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Analysis of expenditure on charitable activities Summary by lund typ• Unrestricted funds 2025 Total 2025 Direct costs Sevens expenses 121,766 5,855 121,766 5.855 127,621 127,621 Unrestricted funds 2024 Tol&l 2024 Direct costs 55,916 3,637 55,916 3,631 Sevens expenses 59,547 59,547 Page 17
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Analysis of expenditure by activities Grant funding of activities 2025 Support costs 2025 Total funds 2025 Direct costs 85,829 5,855 35,937 121,766 5.855 Sevens expenses 91.684 35,937 127.621 Grant lunding ol activities 2024 Support costs 2024 Total funds 2024 Direct costs Sevens expenses 27,600 3,637 28,316 55,916 3,637 31,231 28,316 59.547 Analysls of Support ¢osts Charitabl• Activities 2025 Total funds 2025 Marketing costs Website costs Bank charges Secretarial fees Insurance Legal and professional Depreciats'on 24,166 120 991 5,000 533 4,917 210 24.166 120 991 5.000 533 4,917 210 35,937 35.937 Page 18
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Analysis of expenditure by activities Icontinuedl Analysls of support Costs l¢ontlnu•d) Chantable ACtivitS 2024 Total funds 2024 Marketing Costs Website costs Bank charges Secretarial lees Insurance Legal and professional Depreciation Advertising Promotional expenses 8,400 1,016 949 5,000 521 2,349 208 73 9,800 8,400 1,016 949 5,000 521 2,349 208 73 9,800 28.316 28.316 Independent examlnor's remuneratl¢)n 2025 2024 Fees payable lo the Charity's independent examiner for the independent examination ol the Charitys annual accounts 2,016 1,945 Trust888 G S Rae, a ITUStee. received an hon¢xarium of £5.00012024- £5,000}. The payments lo the trustees are pemirtted under clauses 5.2.2 and 5.2.5 of the charity's conslilulion. 10. EmployoOS There were no employees during the year. AddTb"onally, in the yeaT Iruslees were reimbursed for expenses lolalling £860. Page 19
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 11. Intangible assets Wobslte Cost Al 1 December 2024 3.300 At 30 November 2025 3,300 Amortlsation At 1 December 2024 Charge for the year 3,298 AI 30 November 2025 3,300 Not book value At 30 November 2025 AI 30 November 2024 Page 20
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 12. Tangible fixed assets Plant and machinory Cost or valuatlon At 1 December 2024 834 AI 30 November 2025 834 Dopreciation Al 1 December 2024 Charge for the year 523 208 AI 30 November 2025 731 Not book value AI 30 November 2025 103 AI 30 November 2024 311 13. Flx•d assot Investhients Li¥tod Inveytmènts Cost or valuatSon Additions 258.262 16.9081 1,196 Disposals Revaluations AI 30 November 2025 252.550 Ngt book valu• AI 30 November 2025 252.550 Page 21
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 14. Stocks 2025 2024 Finished goods and goods for resale 4.284 5,489 1S. Debtors 202S 2024 Du• wfthln ono y•ar Other debtors 11.078 921 11.078 921 Page 22
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 16. Creditors: Amounts falling due within one year 2025 2024 Accruals and deferred income 14.634 16,954 17. Stat•m•nt of funds Stat8ment of funds - currnnt yr Balanco at 30 Galn81 Nov•mb•r {Lo$s•sl 2025 Balance at 1 Decèm1 2024 Income Expondlturn Gonoral funds Reserves 400,46S 92,183 {127,6211 107 365.134 ststgment of funds - prlor year Balanca at 30 November 2024 8alance 81 l December 2023 Income Expgnditurg Unr•Btrlct•d funds Reserves 402.280 57, 732 (59.547) 400,465 18. Analysis of net assets between funds Analy$ls of n•t a$$¢ts funds- ¢urr•nt year Unrestrictgd funds 2025 Total funds 2025 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 103 103 252,550 127,115 114,6341 252.550 127.115 114.6341 Totsl 365,134 365.134 Page 23
THE HEARTS AND BALLS CHARITABLE TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 18. Analysis of net assets betwn funds (continued) Analysis of net assets bet¥en funds- prior year Unrestricted funds 2024 Total funds 2024 Tangible fixed asse15 Intangible fixed assets Current assets Creditors due wthin one year 371 317 417,106 (16,954) 417,106 (16,954) Total 400,465 400,465 19. Rolat•d party transactbons Marketsng costs of £16,856 12024 - £8.4001 vre paid to Big Blue PR, a company which TNslee V A Mendelssohn is a director and sharehojer. Page 24