Reg15tered numbèr. ￿276264 Charlty number: SC038673 BRAEMAR COMMUNITY LTD. (A company limited by guarantee) UNAUDITED DIRECTORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 BRAEMAR COMhlUNln LTD. IA company limited by guaranlee) CONTENTS Refgrgncg and admlnlstratlve detalls of the company. Its Dlrect¢Ks and a(1¥15e Directors. report Directors. res￿nsIbilItIeS $tstsm•nl Ind•p¢nd¢nt examinèrfs report ststemant of flnancial actsvitiOS Balance sheet 10 Notes to the flnanclal statements 11-25 BRAEPAAR COIAIUNITY LTD. IA company Ilmllod by guarantse) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2026 Dlrectors John S Blad(ett. Chatrman Dawd Chandkr, Tr&qstr Rhiannon Tumer (resigned 13 November 2025} Andrew Marbn Chrisline Walts Kathryn Dickson Hanne Groèn {resigrEd 13 November 20251 Claire Mccabe (4poinled 13 November 2025) Company reglstered nurnber SC276254 Charlty reglstered number SC038573 Rgglst8red oflke Amicable House 252 Union Street Aberdeen 10 1Th1 Company secretary Grant Smith PraL*ce Limited Banke Bank of So)tland 9 Bridge Street Ballat AB35 5QP Sollclto Grant Smiih Prac*ce kn"mited Amicable House 252 Union Street AB10 1TN Page 1 BRAEMAR COMMUNITY LTD. {A company lIn￿ted by guarantso DIRECTORS. REPORT FOR THE YEAR ENDED 31 OCTOBER 2025 The directors Ffesent Iheir annual rwt tc*>ther *ilh the fir1￿￿¥81 statemats of the company for the 1 November 2024 to 31 October 2(Y25. Legal and administrative infomiation sel out on page 1 foms part of this report. The financial statements comply with current slatulory requirements. the Memorandum * ￿ticleS of ASS￿ation and the Stslemenl of Recommended Practice- Acwunling aThJ Reporting by ch￿tIeS {FRS 102). Since the company qualifies as small sec4w)n 382 of the Companies Act 20¢A, the Strategic report required of medwm and large wnpanies under Ihe c￿r￿leS Act 20C6 (Stralegic ReF*Nt aTrJ Directors. Report) Regulations 2013 has teen omitied. ObJg¢tlves and activitle5 a. Pollcles and obJKtIvos The charitls otty'ecbves as set wt in Ihe ￿em￿arK1um ofAssociaton can be summarised as fc41thvs: to rolieve poverty among Ihe residents *ithin BrnemK. lo manage community land and associated assets for the benefit of the people of B[￿Mar arKI the publi in general following prinaples of SLFStainab5e devdopment", to advance environmental protection or improvemenL to advance community development.. to provide. or assist in provbjing. recreatio￿ f•kn, andlc* ¢xwMsing reC¥eath￿ ac*"vilies, vknich will te availa1￿e lo membets of tre al large with the cknie(l of imwoving the Cl￿ditIOnS of lrfe of the people of Braemar, lo advance eiJLKalion of the natural and built environmerrt amongst the inhatltants of Braemar. to promote the protection of the environment and conservation of fauna and flora", in furtherance of the forwng, to maintain dose relationship wilh Braemar Communty Coun¢ other organisations. Braemar Communty Ltd. was formed in November 2004 to undertake the development and operation of major projects on behaf of Braemar Community. erther Indepen￿¥Y cf in assct1a1￿ V*ilh local authoritie& P•Je 2 BRAEMAR COMMUNITY LTD. IA company 11m1t￿ by guarants8) DIRECTORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 ObJ8ctives and activities lcontinued) b. Actlvltles undertaken to achleve obJKtIv•s Major wojects progressed in the Feric•J under review are as follovvts: Braemar Caslle During the year the comp*s SLts5idiary -Braemai Castle c£¥itinued to be reSponsi￿e for the development of the caslle twth.ons related thtties. Grvmh in wglor wmbers was achieved and the castte continues to have an impxytsnt role ¥￿thin the c(wnmunity providing volunteer and em￿OyMent opportunities. A small operating profft for the year was achieved and folkmng a donation of £4.483 to the company £5,1%1 was carried for¥rdrd in the subs11*ar￿S reserves. Braemar Communty Limited cThttinues lo Inc￿ c(6ts rebted to aspe(as of ts Raising the Stsndwd Prqect which will be c(¥npleted by 17 Awsst 2026 . Housing Project This project continues to attract supp)rt from Aberdeenth.￿ Councal and the Grampi8n Housing Association who have continued to work on viability assessmenl. cost ￿anS arKI fimjing solutions vthh a Yiew to the delivery of 15 n&v build units at ￿r￿￿rOch1I Braemar. subj￿ to Fwbve c￿¢£￿ cffl furKling etc. site Y￿rk is expected to be started by Spring 2027. The cost of Ihis project at 31st Odober 2025 Wds £180,387 including accr￿ interest of £48,279 on related loan finance. is induded in the companys tangible fixed assets as an Asset urKler ConstnJction. Community LarKI Leg81 work rdaling to the trM)efship of Clunie mea￿￿1 was txxnpleted dLwing the year &)d a public consultation event held lo introduce the project lo the e4)mmunity. Auchlavan Visitor numbers to this Imp￿￿nI I￿lIage site eontinu&J to imwove thjn.ng the ￿ and donations tvwards Ihe costs received resulting in a smaN net SWKIUS KKe dw?atson . Hydro Project During in the year the company recwved a donalion of £100,(m fr(Mn Braemar Community Hydro Limited. £75,000 of that donation was in respecl of a hydro legacy ftmd. beiThJ a fund established lo provide additional funds for communty benefft in Ihe lalier part of Ihe Oper￿ life of the hyming resour￿ of £143.7941 have been dealt wilh as shown in the Statement of Finaroal ActNlties. The direclors are satisfied bvith the financial pO&ti.c￿ of the chwity at Ihe Year￿ as presented in the balance sheet on p￿e 10. A net deficit of £2,878 {2024- net surpkB of £727) arose general fund Ihis was transferred to general funds vthich al 31 October 2025 stood al £29.03512024- £31.913). Reserves are that part of the charrtls fiJnds that are freely avaiLqble and excludes those restricted funds and tho* funds whith could only be realised by dw)sing of assets held for Ihe chwitys use. Reserves al 31 October 2025 were £14.68212024- £16.756). The directors ensure that the reseNes are available to meet the d)IWns of all ￿Stricted funded projects. The total level of restricted lunds at 31 October 2025 was £1.693.454 (2024 - £1.705.092). The purpose of holding such funds is detsiled at note 19 of the aC￿n The policy regarding genernl reseNes bs to ensure that suffioenl reserves a￿ held to meet unforeseen fLrture costs, the working ca&Nt81 wuirements of e￿$ts"ny projet#s and to enab￿ the (y)mpany to contn.bute lo the nding of futu￿ projects rf ￿Ul￿d. The curwt of reseryes is £14,682 refiects the significant level of historic illvestmenl in the Castle and in the (yJrrenl Raising Ihe Standard pr￿eCt. The company continues lo explore opportunib.es to increase rts S(Wfces of income lo Supp￿ its activities and to restore general reserves lo level consislenl th our stated wlicy. Page 4 BRAEklAR COMMUNiff LTD. IA company limited by guarnntso) DIRECTORS. REPORT {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 c. Prlnclpal fundlng The funding r￿UIred for running ¢￿7PanY is ncrt significant aThJ roulir* company operating cosis are expected to be ftlnded through returns from yjccessful projects and general donations. The fUr￿lfig of major projects is secured from a variety of sources ir￿l￿dIng National Lottery, HistorTrc Environment Scouand, local and national trusts and foundations. local funding agewes and pnvate dono Structyr•. govarnance and management a. Constitutlon Braemar Communty Ltd. is a compary limited by guarantee {company number SC276254}, not having a share caprtal and a registered Scottish chanty (charity number SC0385731. The charitable company is govemed by ils Memorandum and Articles olAssocial￿. b. Mothtyls of appointment or election of directo The powers for apwintment aThJ remo￿ of dire(tss. are also charity truslees, are set oul in Ihe compatys Memorandum and Arbdes of Association. Directors are elected by the Membership al the Annual General Meetir@. Assoryate mombers may be elected but they must not total more than one third of the numbor of d1￿CtOrS. The direcloTS during ts periTrJ wve as lisled on page 1. Th8 positi'ons of Cha￿r￿n and Trea￿er ¥e eleL*ed ty Ihe Bowd. Approved by order of the m8mb8TS of the board of directh arKI signed on their behaff by.. hn lackett BRAEMAR COMMUNITY LTD. {A company Ilmltsd by guarnnt•e) STATEMENT OF DIRECTORS. RESPONSIBILITIES FOR THE YEAR ENDED 31 OCTOBER 2025 The direcaors (who are also Ihe directors of the company for ts purposes of company law) are responsible for preparir¥J the Direclors, rew1 and ￿ financial statements in aCCordar￿e with applic*le law and United Kingdom Accwnb"ng Stwdards (United lQwJom GenerallyAccepted Accountiry Practi￿). Company law requires the direclors to prepare fin8ntMal slatements for each fina￿al . UrKler company law, the directors must not approve the finanrial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of ils incoming resources and application of resou￿5, induding rts income and exFenditure. for that peric*J. In preparing these finanoal stalemenls, the Oirectors are require(1 to" select suitable ￿MIntir￿j poli¢ies and then applythem consist￿. observe the methods and princi￿eS of Ihe Charities SORP IFRS 102). make judgments and accounliThJ estimates that are reasonable and prudent", slate %thether applicable UK Accounting StarKlards IFRS 1021 have l)een fdltmd. subject lo any material departures disdosed and exrAained in the fina￿la1 statements. Prepa￿ the financial stslements on ts 9iry CO￿ basi5 u￿esS it 15 inaFvropriate to presume that the company will continue in business. The directors are responsible fr)r keeping adequate accountsng records that are suffiaent lo show and explain the companls transacts'ons and di￿Ose vAth reasonable accuracy at any time the finanual position of the colnpany and enable them lo ensure that the financial slalements comply Trmlh the Companies Act 2006. the Charities Twstee Investment IScoUarKI) Act 21x15 arKI the ChaFiti"es Accourts (Scotland) Regulat￿nS 2006 las amended). They are also respL￿1t￿e for safeguarding the assets of the c(¥npany and Iw for taking reasonable steps for the weventbon and del&knn of fraud and olher irretydarities. Page 6 BRAEMAR COklMUNITY LTD. IA company Ilmlted by guarantsè) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR EhlDED 31 OCTOBER 2025 Independent examlnefs report to the dlyeclors of Brawmr Conmnunlty Ltd. I report on the accounts of the company forthe Jwr eThJed 31 OL*ober 2025 Thtmth are set out pages 9 10 25. Respectlve responslbllltles of dIrectO￿ and examln The directors. who are also directors of the compary for the purF*)ses of company law. are responsible for the preparatton of the financial statements in accordance ￿ryth the terms of the Charities and Trustee Investment Iscotland) Act 2(￿15 (Yhe ACY) aTrJ the Chaiiti"e5 Ac£￿jnts (scowar￿ Regulaticffi 2006 Cthe Accounts Regulations?. The directo￿ consider that the a￿Jrt requirement of Regd8b"on 10{1llal to Ic) of the AcLounls Regulations does not appty. 11 is my responsibility to examine the financial statements as required undgr section 4411llc) of the Act arKI lo stste wthethw partKular mattets have LX)me lo my atternt￿. Basls of Independent examlnerfs statement My examination vras ¢arri8d lxrt n ¥oxdarKo With 11 of ts Ac£ounts Reg￿atIOnS. An examination includes a ￿VIeW of the accounting records kepl by the company and a cOmparisc￿ of the finanaal statements presented with those records. It also i￿AudeS con9derat￿Tr of any unusual items or disdosures in the financial slalements. and seeking explanations from you as directcws conceming any such matters. The procedures undertaken do not provide all the ewdence that would be requred Trn an au(k( and consequentty l ￿ not express an audit opinion on the Mew given by the acccwnts. Page 7 8RAEPAAR COMMUNITY LTD. IA company Ilmlted ty guarantse) INDEPENDEKf EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 202S Independent examlnefs slatemert In the COUTSe of rny examinalion. no matter c(¥ne to my attenlion: which gives me reasonable Cause to believe that in any material resFed the requirements.. lo keep accounting recor(1s w) accordwce wih secth)n 44{11{a) of the Act and regulation 4 of the Accounts Regulabons.. aNI to prepare financial stalemerrts vthich ￿jrd the aetounting records. Accounting and Reportiru by Ch8nt*s wewng their aLt¢yJnts in ac(x¥dance wrth the Financial Reporting Stand¥d in the UK and Rewilic of Ireknl {FRS 102) and in ¢)Iher respects compty thilh regubation 8 of the Accounts Regutatws have nol been met.. or lo which, in my opinion. attenlion thukl be in order to enatle proper understanding of the financial statements lo be reached. This report is made solay to the et￿panIS direclcrfs. as a body. in accord￿ wilh regulat￿ 11 of the Charities Accounts (Scollandl Regulations 20L%. My 4K)rk has been undertaken so that I might stste to the companws directors those matters l am required lo slate to them in an Independent examiners report and for no other puoose. To the fullest extent pemithd by law. I do not accept or assume reswnsibility to anyone other than the company c(rfnpanls diwlors as a t￿y. for my vuk this reporL Signed.. Graeme Penman Member of Institute of Chartered Ac£ountants of Scotland AAB Business & TaxAdvisw LLP King5hill view Kingswells Alxrdeen AB15 8PU Page 8 BRAEPAAR COMIIJUNrrY LTD. IA company Ilmlted by guarantsel STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 OCTOBER 2025 Total funds 2025 Total lunds 2024 furKts 2025 21r25 Nole In¢om• from". Oonations and legacaes Charitsble activities other trading actm.tses Investments 4.893 1.250 113,877 118.770 1,250 12.716 1.299 340,044 12.716 1,549 1,531 1.299 Totsl Income 7.442 126,593 134,035 343,124 Expenditure on: Raising fvnds Charitable actwrties 1,662 136,569 1.662 146,889 10.320 199,330 Total expendlturn 10.320 138.231 148.551 199,330 Net Th￿Vernnt In fvnds 12.878) 111.638) 114.516) 143,794 Reconclllatlon of funds: Total funds brought forward Net movement in fiJrK15 31.913 12.878) 1.705,092 111,638) 1,737,005 114,516} 1.593,211 143,794 Totsl fi•nd$ carrled foThYanl 29.035 1,693.454 1.n2.489 1.737,005 The Statement of ftnancAal ￿tIvitieS indudes all gains *KI losses recognised in the year. The notes on pages 1110 25 fonn part ofthese fmanaal sL*ments. BRAEMAR COMMUNI￿ LTD. (A company limited by guaranlwl REGISTERED NUMBER: SC276254 BALANCE SHEET AS AT 31 OCT08ER 2025 2025 2024 Flxed assets Tangible assets Investments 12 13 1.517,182 1.584,178 30.000 1.547.182 1.614,178 Current assets Debtors 14 105.524 254.783 145,391 176.461 Cash at bank and in hand 360.307 321.852 Curronl Ilabllltl85 Creditors". amtsJnls falling due within one ar 15 (185.000) {199,025) Mot current assots 175.307 122,827 Total net assets 1,722,489 1.737,005 Charlty funds Restricted fvnds Unrestricted fLY 17 17 1.693,454 29.035 1.705,092 31,913 Total funds 1,722.489 1.737,005 The company was gntitled to exempti￿ from audit under se(lit￿ 477 of the Cwanies Act 2006. The members have rK>t requred ￿ company to olrtaii ￿ aKlit for the questi￿ in *cOrdan￿ ￿￿th sedion 476 of Companies Acl 2006. The directors acknowledge their responsikn"lib"es for Comp￿.￿ the requirements of Ihe A¢t with respect to accounting records and preparation crf financial sL*ements. The finanual stslements have t￿n in aCt(*d￿ *ith th8 applKable to entsties subject lo the small companies regime. al roved and auUK)n"sed for issue by the directors and signed on their behalf by.. Davld Chandlgr Treasurer The notes ¢)n pages 11 to 25 form part of these financia statements. Page 10 8RAEMAR COMMUNrrf L IA company lIn￿ed by guarnntw) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 General Infom)allon The company is a company h'mited by guarantee. The memtrws of the company are the directors named on page 1. In the event of the company being wwrKI up. the liabilty in respect of the guarantee is limited to £1 per membèr ofthe company. Accounting polkles 11 Basb of preparation of financial statem The finanoal 5L*ements have been wepafed in aCc￿danCe the Charities SORP IFRS 1021- Accounting arKI Re￿ling by Charib"es." Slalement of Recwimended Pr¥ti¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and ReputAic of Irdand IFRS 1021 {effec*ve 1 January 2019). the Fina￿al Reporlir4J Stsndard applicable in the UK and of Ireland IFRS 102) arKI Ihe Companies Act 2006. Braemar Comrnunity Ltd. meets the definttion of a tmjblic beneffil entsty under FRS 102. Assets and liabilities are inrtially recognised at historical cost or transaction value unless othe￿ise staled in the re￿an1 acc(yJnling p(4ry. 2.2 Golng concern The directors. hav*￿ m* due aryl careful erKWiry prwing for￿asts. are of the Olxnion that the company has adeql￿te working caimtal lo execute its oFerations over the next 12 month8. The directors, therefore. have made an infomied judgement, at the lime of approving the financial ststements, that there is a reaSona￿e expectab.on that the company has adequate resources to continue in operknnal existence for the foreseeable firture. As a resutt. the directors have i>)nlinued lo adopt the going concern basis of acccthing in prewng the annu81 financ4al st8temenls. 2.3 Incom• PJI income rs recognised once the company has entrtfement to the income. it is probable that the income wll be receNe(l a￿1 the amount of itK(¥ne recwvable can be measured reliatAy. Grants are WK4uded in the Stalemeni of ffin￿la1 on a recOFvable basis. The balanco of income received for specific purposes but expended during the period is sFK)wn in the ￿levant funds on the Balance sheet. Where income is receiv&J in a(fvance of entrtlement of receipt, its recognition is deferred arKI induded in credjtors as deferre(l income. Where entrtlement occur8 before in¢*me ts reteived. the {r￿L¥ne is acc¥wd. Income tax recA)verable in relalicffl to wiveslmenl ItKO￿ 1$ re(xyJnised at the time the investment income is receivable. 14 Expendlture Expenditure is recognised once thwe is a IW or (Y)n$t￿J¥e obligatify) to transfer etxjnomic benefit to a third paTty, it 15 PTLknble that a transfer of ecfjnom￿ benefits wll be required in setuement and the amount of the obl￿allOn txn be measured ￿liat￿Y. ExFernIrtu￿ is dassffied by aclivity with depreciation tharges allocated on the Fth"cm of the asset'5 use. Expenditure on raising furKls Ir￿Ude5 all expendrture incu¥red by Ihe company lo raise funds for rt8 charitable PLbrpose$ and irttLKJes costs of all fun(traising &aivibes events and notFcharitsble trading. EX￿nd￿lL￿e on chafStable actsvitw is inL7Jrred cffi directy uTrJertaking th8 ac*wties further th8 companvs obJecb"ves. as wdl as any associated support costs. PwJe11 BRAEPAAR COMMVNrrY LTD. IA company limit¢d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Accountlng pollc18s (contlnuedl 14 Expendliure Icontlnued) All expendtture is inckjsive of irrecoverable VAT. 2.5 Inlerest recelvab Inleresl on fvnds hdd m depO￿l induded receNable arKI the amount can be measured reliabty ty Ihe company,. this is norn￿1￿ upon notrficaion of the interest or Payab￿ by the 2.6 Taxatlon The company is considered to pass the tests Set out in Paragraph 1 SI￿)edu￿ 6 of the Finance Act 2010 and the￿lOre rt m&ts the defintb.on of 8 thari18Ne (x)mpany for UK c(wporation lax purposes. Accordingly, the company is fvb.aly exempl from taxation in respect of income or I￿￿tal gains receFved within calegtyies ¢3)vered by Chapter 3 Part 11 of the C(ffporalion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied eX￿U￿velY to chafrtable pu￿)se$. 2.7 Tanglblo flx•d assfrts and d¢proclallon Tawble fixed assets costir¥J £NIL ry more are capitali8ed and reccgused future economic beneffts are t*obable and the cost or value of Ihe asset be measured reliabty. Tangible fixed assets are initia￿Y recognised at cosl. After recognibon, under the cost model, tangible fixed assets are measured at cost less xcumukated deprecaation and any accumulated impaimient losses. AJI costs incurred to briTh3 a tangible fixed asset its intended vKJrking condilion should be inclL•Jed in the measuremert of c Assets in the course of ¢￿￿trUCtIOn are in¢bJded at costs inr#Jrred to dale. Depreuation w these assets 1$ not th￿ged until they are trought into use. Depreryation is tharged so as to allocate the Cost of tangitAe fixed assets less their resKlual value over their 8slimated useful lives, the straigM4ine melhod. Depreaation is provided cffi the fdk]wirKJ bases". Freehdd property Tenants improvements Plant and machinery Fixtures and fftb"ThJ5 - No dewecialion charged - Over the lem of the lease -1￿.20% 2.8 Investments Fixed asset investments are a fomi of finanoal instrument and a￿ inthally recognised al their transath.on cost ar￿ 5ub5equenlly measured at fair value at the Balance sheet date, unless the valLTre cannot be measured in case rt is measwed al cost less impaiment. Investment gain5 and rosses, whelher realised or unredised. are c¢Jnbit*d and WeSen￿ as 'G8insl{Losses) on investments. in the Statement of financial acliwb"es. Inveslmerts in subsidiaries are valued at cost less wovision for imwm)enL Pagg 12 BRAEMAR COWUNrrY LTD. IA company Ilmltod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Accountlng policiès {conlinu•d} 19 Debtors Trade arKI other debtors are recognised at setllement amount after any trae discount offered. Prepayments are value(l at am¢x#rt prepaid net of ￿ trade discounts due. 2.10 Cash at bank and In hand Cash at bank aNJ in hand I￿1￿(leS cash and s￿rt4errn ligtty IquNJ inveslment5 wth a short maturity of three months or less fr¢)m the date of acqLMSition or opening of the deposit or similar ￿L)unt. 111 Llabllltles and provlslons LiabIl￿e5 are recogrrised Wh￿ thwe is an OtrAigati￿I al the Balan￿ sheet date as a result of a past event, it is probab￿ thal a transfer of e¢onomi¢ benefft ￿711 te required in setmement. arKI the amount of the setuement I￿n be esb"m*ed reliabty. Liabilities are recognised at the am(MKrt that the company anticipates rt viim pay to settle the debt or the amount il has received as adVa￿d payinents the 9)ods or ServI￿S il musl prowtje. Provisions are measur&J ai the best estimate of the amourts retyired to setlle the obligation. Where the effect of Ihe time value of money is matwial. the is based on the p￿sent value of those amounts, discowrted at the pre&tax thscount rate that refiects tr* risks speofic lo the liability. Th8 unwTnding of the discwnt is reccgntsed in the St*ement of fina￿la1 activities as a finance cosL 2.12 Flnanelal In6truments The comp*w orty has finantsa assets •Mt liatilities of a kind Ihat qualrfy as basic financial instwmenls. Basic financial instrumwts ￿e inthlty recognised al transxtion value arKI subsequently measur&J al th*r setiiwnwrt value. 2.13 Operating leases Rentals paid under operating leases we Charged to the Statement of finanaal acts"vities on a straight- line b￿"S over Ihe1&gse tenm. 2.14 Fund a¢￿￿ntIng General funds are unreslricled funds which are available for use al the discretion of the directors in furtherance of the general objectives of the company arKI whith have nol been de￿gnated for other purposes. Restricted fu￿ts a￿ to be used in accordance *ith restrictiC￿S bfnposed by donors or which have been raised by Ihe company for partKuL7r wrposes. The costs of raising and adminislering such funds ore rt￿rged agoinst Ihe speafic The aim arKI use of eath iesth.cted fund is sel oul in the noles to the finanaal S&￿eMentS. Investmenl income, gains and losses are allocated to the appropriate fund. p￿13 BRAEMAR COAUIUNrrY LTD. IA company limited by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Incom• from donations and le9acie* UnreslrirAed Restn"cted funds nds 2025 2025 Total funds 2025 Total funds 2024 Donations 111.493 116,176 2.594 56.955 283.089 Grants 210 4,893 113.877 118.770 340.044 Totsl 2024 340.044 340,044 Income from charitable activlttes Unrestrl￿ed funds 2025 Total funds 2025 fvnds 2024 Rent income 1.250 1,250 Total 2024 Incoma from other tradlng actlvlti8s In¢om8 from fundraising events Restricted funds 2025 Total funds 2024 2025 Fundraising events 12,716 12,716 1.549 Total 2024 1.549 1,549 Page 14 BRAEMAR COMMUNITY LTD. (A ￿MpanY Ilmlted by guarnDle8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Imiostm8nt Inwne UNe*ided fijnds 2025 Totsl funts 2025 Total ftjnds 2024 Bank interest receivable 1.299 1,299 1.531 Total 2024 1.531 1.531 Exp•ndlture on ralslng funds C￿ts of ra151ng voluntary Incomè Reytricled fvnds 2025 Total fiJnds 2025 Total fvnds 2024 Website & morketir*J 1,662 1,662 Page 15 BRAEklAR COMMUNiff LTD. IA company Ilmftod by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Analysls of expenditu￿ on chaiitabl• acllyl Summary by lund typ• Urffestricbj Restricted funds fvnds 2025 2025 Total 2025 Total 2024 10,320 136.569 146,889 199,330 Totsl 2024 804 198,526 199,330 Anatysis of expendlture by actfvltl•s Activities uTrJertaken diredy 2025 Support costs 2025 Total funds 202S Total funds 2024 Expendrture on chwitsble activities 49.558 97.331 146.889 199.330 Total 2024 104,084 95.246 199.330 Analy$ls of dlr8Ct costs Total lunds 2024 2025 2025 Braemar castle running costs staff costs Event costs Repairs Consultancy Donations 2.659 2.659 1.620 11.050 13.964 5.390 16.495 11.050 13,964 5,390 16.495 43,593 27.119 31,720 49.558 49.558 104,084 P￿e 16 BRAEMAR COIAIUNITf LTD. IA c¢)mpany limited by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2026 Analysls of eX￿ndIture by athltl•s (contlnued Anatysis of support Total JrKIs 2025 Total nds 2024 2025 Office supplies Insurance 476 476 1.597 5,849 851 General expenses Training Depreciation Legal and professional Computing Rent 920 75 920 75 390 75.273 16.930 209 75.273 16,930 209 59,266 24,809 2.000 97.331 97.331 95,246 10. Indo￿ndent examin•￿$ remun•ratlon 2025 2024 Independent examinerfs remuneration 5.000 6.250 11. Dlrectors. remunerntion and expens Chjring Ihe year. no directors rec*¥ed remunerati￿ or other benefts {2024. £NILI. During the year ended 31 October 2025. no direclor expenses have been incurred {2024- £NIL}. P￿17 BRAEPIAR COMMUNITY LTD. IA company limltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 12. Tanglble fix￿ assets Tenants Tenants improvmenl Fixtures Freehokl improvment - Braemar Plant and and under Jand - Ajxhtavan Castle machinery fftt￿￿S constr¥Jction Total Cost or valuatlon At 1 November 2024 41.360 Addrtions 221.407 1,335.201 195.128 29.438 8.277 180,387 2.002,921 8.277 Al 31 Odoter 2025 41,360 221.407 1.335.201 203.405 29.438 180,387 2,011,198 Depreclatlon Al l November 2024 Charge for the year 183,402 11.070 102.816 118,337 14.188 37.943 23.495 2.765 418,743 75,273 At 31 Oct¢Jber 2025 194.472 140,759 141.832 16,953 494,016 Net l)ook valuo At 31 October 2025 41.360 26,935 1,194.442 61.573 12.485 180.387 1.517.182 At 31 Oclober 2024 41,360 38.(K15 1.232,385 76,791 15.250 180,387 1.584.178 Page 18 BRAEPAAR COMMUNITY LTO. IA ￿mPanY Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 13. Flxod wsset inves1m￿ts Investments in subsidiary companies Cost or valuation At 1 November 21x24 30,000 At 31 October 2025 30,000 Ng1 book value At 31 October 2025 30.000 At 31 Octoi*r 2024 30.000 Prlncipal subsidiaries The fdlowng was a subsii*ary Lythrtaking of ts company. Name Registered office or principal Class of Holdlng place of buslness shares Braemar Caslle Limrted Ordinary 100% 1& Debtors 2025 2024 Amounts owed by gr￿p undertakings PrepOyTnenls and aecrued income 13,765 91.759 48,884 96,507 105,524 145,391 Included in prepayments and acc¥ued i￿ome are aMO￿ts tolallry £84.87612024 - £84.876) relating to grants lo support prOD￿ts detailed al Th)te 17, vknith have been committed to the dBrity bul not received. Page 19 BRAEPIAR COhlMUNITY LTD. IA ¢¢)mpany limited by guarantsel NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 OCTOBER 2026 16. Cffeditor5: Amounts falllng du• wlthln one year 2025 2024 Other loans Trade credrtors Other laxation ar￿ S￿al se￿rity 130.000 130,000 1,721 53.279 715 67.470 185.000 199,025 other loans represerrt a loan from the Charibes Aid Fwr¥JatiM tO%fdrds ￿ development of Kindrochit Court as part of the hOU￿Thj fvnd. Interest on the (Z￿la1 afflount drawn dfym) will be charged al a rate of 10% per annum. The ￿￿tal amount was due to be repaKI together V￿th all ￿tsed interest on or before 30th Septemtrw 2022. However. an extension to that date has been agreed with the lender. The standard terms of the loan dictate that if the prwt does not wtteed. the108n *ill be forgiven. I￿uded in wua15 arbj CTrdit0￿ is a¢￿￿j lo￿ intwesl amourting to £48,27912024- £48.2791. 16. Flnanclal Instrumen15 2025 2024 Flnanclal assets Financial assets measwed at fwr ¥alue th[0￿h WKI exp￿dILUre 254.783 176.461 Page 20 BRAEMAR COMMUNITY LTD. (A company Ilmlted by guarant•• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2026 17. Statement of funds Statement of fvnd$- current year Balan￿ at 1 November 2024 Balan￿ at 31 October 2025 Unre$trlctsd funds General Funds- am flmds 31.913 7.442 {10.320} 29,035 Restrlctsd funds Auchlavan Braemar Ca5Ie- Property Housing Play P8rk Mountain Fest"vaS L￿al Projects Hydro Project Woodlands Paths aTrJ bridges Clunie mead￿ 37.029 1.571,441 5,539 21.743 11.286 3.743 2.953 46.541 1.379 3.438 4.550 2.652 113.9201 177.Cfj11 27,659 1.497.032 5,539 12.720 11.949 3.112 89.837 45.038 477 {9.0231 (12.0531 {6971 {14,9451 {1,6031 {25n {8.6721 12.716 101,829 100 1645) 5.325 91 1.705.092 126,593 (138,2311 1,693,454 Total of funds 1.737.005 134.035 (148.5511 1.722.489 Page21 BRAEMAR COMMUNITY LTD. IA company Ilmltsd by guarantr¥) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2026 17. Statement of fvnds I￿ntInued) Statsment of funds- FKlor year Balance at 1 November 2023 Balance at 31 October 2024 Income Expe￿lit￿re Unrestrlcled funds General Funds- all fijnds 31.186 1.531 (804) 31.913 Rostrl¢ted fund5 Auchlavan Braemar Casle- Property Housing Play Park Mountsin Festival Local Projects Hydro Project WoryJlaThds 46.121 1,399,681 12.481) 30.766 11.286 5.005 23.683 47.944 5.218 270,207 114,310) 37,029 (98,447) 1,571,441 5,539 21.743 11,286 3,743 2,953 46,541 1.379 3,438 (9.023) 208 10.990 {1,470) {31.720) (1.403) <37.731) (4.422) Paths and bridges Clunie Meadow 39.110 1.562.025 341.593 (198,526) 1,705,092 Total of funds 1.593.211 343.124 (199.330) 1.737.L>05 18. Summary of funds Summary of funds- CUTrent year Balance * 1 Balance at 31 October 2025 2024 1￿me ExperKliture General funds Restricted funds 31.913 1.705.092 7.442 126,593 (10.320) 29,035 (138,231) 1.693,454 1.737.¢￿5 134.035 {148,551) 1,722,489 Pag& 22 BRAEMAR COMMU141TY LTD. IA company Iwniied by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 18. Summary of funds {contlnued Summary of funds- priorye•r Balance at 1 November 2023 Balance al 31 October 2024 Ir￿orne Exp￿￿J[lUre General funds Restricted funds 31.186 1.￿2.025 1.531 341,593 (8041 31.913 (198,526) 1.705.092 1,593,211 343,124 1199,3301 1,737.005 Auchlavan funds are for restoratw)n work to the unN4ue 'A' listed cruck frame cottage aNI associated Horse MIN. The Braemar Caslle PrO[￿ty Fwhj ts in resp&# of hist￿￿ repairs to th8 ¢asUe iwldirvjs and gr¢wnds The HousiThJ fijnd represents funds received lo meet costs asswaled wih an affC￿dable housing Project. The Flay Park fund represents funds rKei¥ed fty ts inst*tion of a play park in the Braemar communty. The Mountain Festival fuThJ rdates to an event held for ￿ benefft of the c(Mnmvnity. The Local Project fiJrKI exists lo find various woJe(ts willin ts CoMm￿tty. The Hydro Project frJnd reweserfs amounts rec￿ed fr(Kn Ihe Braemw Ctynmunty H￿1[0 scheme to be used for ts benefit of the Bfaemar Clynmunrty. The Woodlands fund represents the fvnds received to purthase the community woodland (Tomrichton Woods) and manage them for the benefft of the communty. The Clunie Mead￿¥ fund rdates to fund5 r￿eNed to I￿p w>gress the ¢kvdwent of this area of communty land. Page 23 BRAEMAR COMMUNI￿ LTD. {A company Ilmltod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 19. Analys1$ of nel assets between funds Analy$l$ of net assets belween funds- Curr￿rt year unrestn.cted nds 2025 Restllcted fijnds 2025 Tota funds 2025 Tangible fixed assets Fixed asset invesknents 14.352 1.502,830 30,OC 345,624 {185,(KH)) 1.517.182 30.¢X 360,307 (185,0001 Current assets 14,683 Cre￿rt￿S due within ore ￿ar Total 29,035 1,693,454 1.722.489 Analysls of net assèts b&t￿n fvnds- prlor year unrestn.eted Restricted Total fvjnds 2024 2024 2024 TaThJible fixed assels Fixed asset investments Current assets Credttors due wittmn year 15.157 1.569.021 30.000 305.096 (199.025) 1.584,178 30,000 321,852 1199.0251 16.756 Total 31.913 1.705,092 1,737,005 standanl stturlty The Scottish Ministers The Hwilage Loltay F￿￿j h(*J a slandard security over Ihe charitabte ccrfnponys a5￿ts in respe(l of grants offered 10 8ra8mar Community Ltd. 21. Relatsd party trnnsactlons During the peri¢)J donations of £100,OCQ {2024 - £25.0(N)) *ve received from Braemar Community Hydro Limited. a eommunty benefit souety vAlh common share￿derS. 22. Post balan￿ $he8t ev•nts Subsequent to the year erKI. the Company relwmled a d￿ti￿ of £20.000 from the Braemar Castle prop*ty fund after it was detemined that the donats.on coukl not b& used for its intended purpose. Page 24 BRAEMAR COMMVNrrY LTD. (A company Ilmlted by guarantoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2026 Conlrolllng Page 25