ABERBROTHOCK SKEA TRUST Ch•rlty R•l., SC039201 lor th• y•ar to 31 Jammry 2025 Contents fteferen￿ & Admin Informatlon Report by Tru5tee5 Report by Independenl Examiner Accounts Note5 to the Account5 Appendices of Investrnents T￿nIonS law IIP, sol￿tors, Bwlhock)ènk ilouse, Arbroath DDJJ INE r•.. oJ241872683 Fa*.. Q124J 871541 ABERBROTHOCK SKEA TRUST Reference and Administrative Infoimaiion Date/Manner of Appolntment Name5 and Addresses ol Trtsstees Chority Reference No.. SC039202 Ayents and AdmSn15trators for the Trust (and prlnclpal addre55 of the Charlty) Tnorntons Law LLP, Brtrthockhènk H￿Se., Arbroath, DDI I INE. InvqFtm•nt Mènagqrs Prlnclpol Banktrs The Royal Ba'.)k c>f Scotland plc 3 Illgh Slrfrtl, DurSts Is a conslrflant wtb Thnrntnns I ww I I P lep.s lor ProfessiNal Services w £54,64Ql. In 24125 iifield Playgrwp and Camphill School, knrL*en (Grant declarèd an Interest In the applkatlon r4c•ived from i EJIVW a￿a￿delI, lfi 23124 5trathrr(Jre Rugby Club IGrant K•y ffl•n•g•ment pernonnd rnmun•rallon rhe twstees consKJer the boJr¢ e.r friiJtrree% a5 comprlsing the key rnanagement persortnel of rhe charlty In charge of dlrecting nd C￿tr￿lIng the charilv dlllj funi)Irl Jnd opeFailn9 the charity on a day io day basis. tsjl tiustees give of their time freew, Twstee exwnses fo retrement lu￿￿ and glft are Ilstea In sthedule 3. NO trustee remuneratbjn or expenw were poid li. the b-rtl Ory•nlMtlon and yr•nt-maklng ptrllcy The th-to.doy adMinbtra￿0n Is carried wt bv Thorntons Law LLP, 3$ agents for the trust, The trustees meet rhw fjme5 J Year. wrn&ly in March, Awust Jnd l)ecembw, 19 revlew grants p)Sition any othEr relevant aspetts r* the twsvs affairs. Requests for grants are r￿e1Ved malnly throL¥h Trust's Inclus1￿ In varkws tharlty dlrec¢orle5. As 5tal&l In the Deed ol Trust, the purrose of the trust Is Yo prcfflote and lacmirate the diStribJti￿ ol M(￿eV to all ¢y any rA)ses for the benefit d tl* clynmunlty which are or nwy hereafter Le deemed by Law to te Chadtabk.. In order tD concentrate beneft and 9we effectlve support at a useful level to Charitab￿ tyganisations the Trustees wlll gewally I￿rnIt bencfit to such organlsatlons ale cyetavng In the east of Sto￿and, north of the Flrth of Tay. They may exceptlonally give to charllable ofganisations operating 0￿￿1th that aw bjt will In any event from brne to rime 9r¢e Outr4￿th that a￿a to the or9anisalions favwed by the'lounders. (see below) FD. the purposes Ihis note ieg3fdin9 9fdnl.Inakitig pulicy. '.he 'loufider% are ions deled to L>e lé I The foundws, ￿ Ihe Driginal Deeds of Tru81, directed Ihal In adtjibgn to supp)rting charit￿5 generalty, the Iru5tee5 thould give special SUPPDrt to charitie5 whlch they themsdve5 haij suprAyted In thelr Ilfetlrres. In Ihe case of Brlgadkr Jhrnes A Oliver tIEse induded children's and medical cPkirities, chariknes concerned with wildlife ond charities CO￿rned with HM Forces particularly the Army and ex-5enrfces Weffare. In ¢as• ol Mrs Amy Barnet Skea. Ihèso Ineluded the Salvation Army, Barndr¢*Js. Cancel Rese￿h, RNU. Save the Children and Gulde Dw5 for the 81ind. A8ERBROTHOCK SKEA TRUST Report of the Trusl&s for the year ended 31January 2025 I(￿lI Organis•tion and grant-rnaking poll¢y {nlble for the wepar*ion ol the accounts In accordan￿ wlih the tem)s of the Chartdes and Trustee Investment (Scotl￿dI Att 2005 and the cha.1t￿5 Accounts15cotlandl Regulatyws 2(K)6 la5 a￿nded1, The trustees consider that the audit requiremeot of Rewlabon 101 Ll Idl ol the 2006 Accounts Re9ulètws does not Jtply. It Is my responslbility to examine the accounts as reoJlred unJer sectbn 44111 Icl of me Act and ro state w￿[￿( partloJlar m)llers have cory￿ ro my attentth. s ol Ind•pend•nt •x•mln•r'• st•t•m•nt My examlnatlon Is carrleo out In awdarKe Wth rewlation 11 ol the Charities Accounts lkntlandl R£gulath)ns 20C6 las rnendedl. An eXami￿tiOn I￿1￿￿e$ b revew ol the at¢¢unting record5 ke0 by the ¢harity a ¢¢ynparison Df Ihe accounts presented with those records. It jlso I￿￿ldeS cons*eratyon of any unustsal rtem5 or disclosures In the iccounts, and seek5 exr4anatlon5 fr￿ rhe trustees c￿CernIng ary Such mèners. The procedures undertaken do not provlde all the evmlence that would be requreo In an audlt, and ￿seqUent￿ I do not express an aL￿1t opinion the view gNen ty the accc*Jnts. Independent •x•mln•r'o •l•l•m•nt In Ihe course d my examinaticn, no matter has come to my attentlon whlch g1￿ me wsonèt4e cause to tel￿e that In èny materthl rwct the reouirerrthts.. to keep occounring records in Kcordènce with section 4411) lal of 2005 Act and Regu￿t￿n 4 2￿6 knounts Regulations, and ro piepare accounts which accortl wlth the accountsng record5 and cffjy wlth RegulaOcn 9 01 the 2(KO kcounts Re4ulations hive not been mot, or to whlch, * my opirnicl). attenti¢rn should be Or#wn in orow ¢0 enatse a proper understsndlrfj of the Kcounts to be Chartered Accour)tw Statutory Auiiror 11 Dudhope Terrace Dundee DD3 6TS 2025 A￿AsROTH0tX SKEA TIIUST Receipts and Payments A¢￿￿￿t tor the year ended 31 J•nuary 202S 2024 2025 As iestated Receipts Invcstrncnt Inu)mo Schi 1530S5 139,000 Proceeds trom sale of Correl Cottsge 175,000 Net prcieeds frotn investlnenl tfansacbons App2 To￿1 receipis 222 375 377 450 Payments Charita￿e attivrties Sch2 137,150 2L6,231 Gowernance Schj 26,899 20,946 r.osrs of genorating ftind Srhrf 30,423 194,47k 10¥ 45.1 A Desigfidled fuiiQ of 150,000 IidS beeri irealed. rhe rernoindei of the fiinds remain untestrirtEd. ABERBRI)THQCK SKEA TRU5r strtement of Balances •5 •t 31 J•ThyJry 2025 2024 As restated khedulel 2025 •h on d•wk •nd on h•nd Opeftlng baiante 217,981 109,S27 (Deflcitllsurplus for star 108 454 Closiry bjlan 217981 Unrestrtw Funds 195,884 167,981 Cr51gnated Funds 217981 Investments as valued at 31.01.25 5,305,903 4,869,377 Heritsb￿ Prowty at costlYaluabM as ot 31.01.25 5 330 903 Ertlm•t*d U4blllUe• al •t 31.01.25 ThDrntons Law LLP, admlnlstraiion lees Raththnes, rortfolio monagement fees FiThJlays, Inde￿Tr1ent ÉKamlnabon fee Hery1arson Loggle, Inknr#Jent Examlnallon fee 18,600 2,493 3,600 AppTewed by the tpitrT Ilgnfd tYTr thrlT behall: ABERBROYHOCK SKEA TRusr Schedule I Income Rec•lved 2024 Is Reslaled 2025 Divtdènd£ and Interest, per ￿￿ndiX I Rental Income 153.855 138,975 25 153 855 139000 Schedule 2 Charltabl• Adlvltl• Grants pald Sn year- Grants under 15,0001361 100,750 176,150 Support Costs (Schedwle 31 36,400 40,081 137 150 216 231 Sthedulc 3 Support Costs Chariiatsle Artlyitles 2025 TotBI Go¥ern4nce Thnrnlons. arfrryniqtrhlirjn fpps Ispp roip Findlays, Audil IE Trusrees MLelirg exponscs 36,400 18,240 8,400 259 54,640 8,400 259 Note.. Thoinions fee to 31 JaniJ8ry 2024 raised atte", yle Imarch 20241 Inttrim lee tv 30 April 2024 Interim fee to JI July 2024 Interim fee to 31 Ortcoer 2024 18,600 12,020 12,020 Totsl Tnomtons fees as above 54 640 Nrte.. 'Choiilable Attivitie5' cofTipfi5e the payment of grants to Vai.OU5 cliaribe5 l(ylber wilh aw expenditure Iniurred by t￿e chaiity In meetln9 its charitable objettives (Support Costs), a5 opposed to Govornance costs ¢x the cost of r&sitbJ the fvnds to finance thèse artivitie.s. 'Gowernance costs. are the cosrs associatod wlth the governan￿ arrangements of the charity, IndudiTrJ Audit or Indepwdenl Exèmination, legal advice for trustees and a propDrtion ol the ct)5ts ag5ttiOted with tonstitullonal and statutory reouffemenrs, for emarnp￿ truslee meetings an¢ pieparing sta￿l0? accounts. In the year ended 31 January 2025 expenw were pa￿ as set out In ttrt above sch*ule, No exper6es or othw form5 of remuneration there paid to trusiees durin9 the year enL*d 31 January 2024. The trust has no em10y￿s. ABERBROTHOCK SKEA TRU Sthodul• 3 Support Costs (cont) 2024 As Restated Activil*S rnance Thornton5, admlnlstratlon fees Henderson Loojie LLP, IndeFendeTht Examination fee 40,081 20,040 906 60,121 9( 2024 As Resrated 2025 Sch•dul• 4 Costs of 9•n•r•tlrw lund* Portfg110 nwnlgement fee5.. Rathtones Investment Man4ement 30,423 28.592 Propwty exFense5'. Q￿n(lI, cwncil tsx (refv￿41/dUc SSE, IrefvrKII Thorntons Law LLP- fee for sale of Comer Cott4e Thormons Law LLP- outlays for sale of Cryner Ccltsge 1591 13481 2,928 706 Sthedule 5 Herlt•ble knp•rty- •t book c0Jtlv•l￿•t5on CL¥ner Cotta9e, West Newton, *broth All%)bnert Ground, Hayshead, Arb Sch•dul• 6 D•slin•t•d Fund 83lance in kcounts to (Delotll 5urplu5 fty th2 yoar Blance 45 ot 31101125 Trènsfers. IreSlaEedl UNestrl(tEd Furnts Deslgnated Funds 217,981 27,903 150.0001 50.Ql)O 195,884 50,ODJ 217 981 *The orlginal tiansler to the Desi9Uted Fwcl took FAaTr In December 2Q14. The Oeslgnèted fund was ror $y￿d05ed in the SORP ACc￿nts to JI January 2024 but ha5 L*en restated for the Receitts and Payments ACc￿￿t to 31 January 2025. 10 ABERBROTHOCK SKEA TRUST Notes to the Accounts I, Accountlng Pollcl•s Basls of Preparat These Fin)ncial Statement5 have te20 prepared on a receipts and payrnent5 bas￿ ill &cordance with the Chanties Accwnts (Scotl￿dI Regvlakn"ons las amendédl. Thls metw is perml¢ted for charltles wifh gross irycchne under É250,000 In tre rinancial year, under the receipt and payments basis of accounting. only aLtual cash received and paid dunng rhe Inanclal year Is recorded No adiu*ments are made foi. Incorne due but not yet received, or foi expenditure Incuried but not yet paid ai the year end. 2. Golng Conc•rn At the timc ol èppfoving the financial stèromtnts, the trustees have a reasonèble ¢xpettath￿ that the Trust ias adequate resoiirces to rnntinue in operational t￿$￿enCe for the foreseeable future. Thus the Irustees continue to adopt the going conieTn basls of accour.ting 19 prepalipq t*c nnancial staiemertls. 3. Investrnent managers The Truslee.s approve the continued a)wintment of Investment Maryers as deta,led in the Rep)rt ol the trustees In these ACC￿￿￿, and on thc same Dasls as conrèlned In the Invesrment and Financ.a1 sery￿es Terms of 8u41ness Aoreement Currently 4. Independent Examlner Thfr TrLI41￿% &Pk)rov* Ihe apwlnlfneni of tlie Indepondcnt Exaininer Js detalled In the kewrt of ibe trustees In these 5. Change 8a515 of Pre.parolioTh occountin9 poli• trom p'epariD.fj iu financial 4ts1emenls on tl',e yivtss inctyn¥ lui the year Icll boloiv the L250,OOP, Ilirv5rold, dnd Ilie Tiijslees considoi*J tho re￿Ip￿S arid paympiits basis 10 be mure wowrtionate. and rost trhprtivp Inr Ihp r.harify'5 %i7e. and cnrnplexity. As a result ol th15 change, ccmpèralive figures Irorn thg previous year's AcctsJfits, which were p￿Pa￿ on an acciuals ba&5, hHve Oeen ￿$[ated. The Test*èmÉnt s¢nÈdu* can be found In Appendix 5. 6. 14ature and Purpose of Charttable Funds Unrestricted funds arc available for use ai rhc discreti￿ of the Tfustees in fUrtherar￿ of Iheir charitable obJecLives. Designated funds dfe u5tO to 5UPPOrt charitsble projects thaL might not ot￿er￿se get uff the yiound and thus po￿￿01Y as515l charltie5 Itt securing rnatched funding. Aberbrothock Slea Ch¥rltable Trust Year endtd Jl January IQ25 Appendlx I S¥rnm•ry 01 DMdeTrds Ind Inl•r•s1 UK Comp•ny o￿ldendS per R4ihbone5 65,911 UK UDIt Tr¥si •r•l O£IC dlvs per Ralhbone 19,029 UK Unit Trysi •rnl OEIC Ir4tor•st per Rathbones 7.871 VX fjllt & oih¢r 1meresi1fj10551 per R•thbones 9,310 Piop¢rty kn£om¢ Dlitrltsyiions pef Rèihbone5 1,537 Forel6n Dlvldend Intome per Ralhbonej 25,691 Forelin Intereii ppr R•thbanei 11,585 UK Depostt Int•r•st IN•tl per Rathbon*s ptr ThaifttOnS Law LLP JI,705 216 153.455 LT C> > L? Z U Lg JJ J 888 r4 r¥ rl P4 P4 ry r¥ 4 ¢y * * Lry O O o a ts o ts N p4 O O 8 i 8 IX a Aberbrothoc* Trust 5t•temeDt of Revenue posltl¢m •$ at JI J•nuary201S Appendim 4 Balance as It 31.01.23 114,267 Year to 3101.24.. iv5Llené5 and Interest 139.(X)J GraTris p•id Sbpport costs -176,150 .40,081 Revenue defjilr .77,231 balènce J5 ai 31.01.24 37,036 Year tc 31.01.25.. Dividend5 •nd Inter•st IS3.ass Gran15 paid Support costs IC¥),750 -36,400 Revenve deli¢it 16.705 B•lan¢e Is •t 31.01.2S 53,741 A*rtiPls& PJ¥m•nl% R￿￿Jp1slIfi..￿¥ lJgWO I?S,ODD 6J.450 10 600 q.169.40B 25.ND 1.4 R¢*rvts S.OJ2.496