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 Repo￿ng 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 add￿on 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 *. COnstitu￿on 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 re￿rdS in ac￿rdance 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 Regulat￿nS 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 reqUI￿d 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 a￿ept 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 Charte￿d A￿untsnIs 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 fina￿1¥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 Sco￿and. The charitable company is registere