ABERBROTHOCK SKEA TRUST Charlty Ref: SC039202 Accounts lorthe year to 31 January 2026 Contents Reference & Admin Informatlon Report by Trustees Report by Auditors Accounts Notes to the Accounts Appendices of Investments Thorntorts Law LIP, Solrltors, Bmthockbank House, AT￿th DDII INE relephone.. 02241 872683 FJX.. 01241871541 A8ERBROTHOCK SKEA TRUST Reference and AdmIniStrJt5￿ Inft)rmatlon Datelmanner of Appointment Name5 01 Trustees George John Mulr Dunlop lan Trye Townsend Elizabeth Margaret Mclaren Rhona Joyce Alston Janette Falrlie Leila Jean Martin Janette Angela èel stuart Irvine Mackie Dr Barry KSaa55en Trust Deed As5Ltmed 12.03.2008 AssLtrmed 10. 12.2015 Assumed 15, 12.2018 ASSU￿e￿ 31,08.2021 Assumed 31.08.2021 Assumed 04,07.2024 As5urned 06.04.2025 AS5UTh￿ 16.04.2025 Ch•r5ty Reference No: 5C039202 Agents and Admlnlstrators for the Tru•t (and prlnclpal addre￿ of the Charlty) Thorntons Law LLP, Brothockbank House, Arbroath, DDIL INE. Investment Manogers Rathbone Investmenl Management Ltd I'Rathbones'l, George House, 50 George square, Glasgow G2 IEH Prlnclpal Banke The Royal Bank of Scotland plc 3 Hlgtt Street. Dundee 0019LY Audltorj Findlay5 Audlt Limlted, 11 Dudhope Terrace, Dundee DD3 6TS ABERBROTHOCK SKEA TRUST Report of the Yru5tees for the year ended 313anuary 2026 The Trustees present their report and accounts lor the year ended 31 January 2026. The rerK)rt and accounts have been prepa in accordance with the charity's trust deed and with the accounting policies set out on page 11. stru(tur< 6oveffl•n￿ andmanagement.. Constltutlon Deed of Trust da￿ 5 December 2007 The present Trust was established on 5 Decern￿r 2007, being an Integration of the Aberbrothock Charitable Trust and the Amy Barnett Skea a)aritable Trust. The Abefbrothock Charitable Trust was set up by Deed of Trust dated 25 August 19?1 by James Alexander Oliver, Graham McNlcol and John George Mathie50n and the Amy Barnett Skea Charitable Trust was set up by Deed of Trust by Amy Barnett Skea dated 26 February 1988. Appolntment of Truskne$ Trustees are nominated by the then existing trustees and their appolntment c¢)nfirmed by formal Deed of A￿umption. A chalrrnan and vice-chairman are appointed from time to time to chair meetings and to undertake other duties delegated to them. The Iruslees currently endeavour to ensure that their number does not fall below five and rhat rhey represent a wide range of interests and reasonably wide geographlcal base throughout the areas SUPPOrted, in order to be well Informed on the needs tsf applicants and of the area of benefit. Trustee Inductlon and tralnSng The trustees will deal appropriately as regards induction and training on any new trustees belng appolnled. Thi5 will include awareness of a trustee's responsibilities, the governing docurnent, administrative procecjures, and the history and philosophical approach of the charity. A new trustee will recelve copies of the previous year's accounts, minutes of recent trustee meetrngs and copy of the OSCR trK)oklet 'Guidance and good practsce for Charity Trustees,, if approprlate. Tru*tee Internsts During the year lo 31 January 2026 variou5 Trustees decla￿0 Interests in applicatlgns recelved by the Trust. These interests bre 115ted more detail In Note 12. Key m•nag•ment p•Ysonn•l r•muner•tlon The tnJstees consider the board ol trustees as comprising the key rnanagement personnel of the charity in char9e of directing and controlling the charity and wnning and operatin9 the charity on a day to day basis. All trustees gSve of their time freely and no Iru51ee remuneration or eX￿nseS were paid In the year. OryJnlsatlon 4nd grant-maklng pollcy The day-to-day admlnlsrratlon is carried out by Thorntons Law LLP, as agents for the trust. The trustees meet three times a yeor, normally in March, August and Decern￿r, to review the grants position and any other relevant aspects of the trust s affairs. Requests lor grants are received mainly throu9h the Trust'5 inclltsion in variou5 charity diieclories. As stsled in the Deerj oFTrust, the purp￿ of the trust is.to promote and facilitate the distritxJt*on of money to all or any purpose5 for the benefit of the community which are now or rnay hereafter be deemed by Law to be Choritable." In order to concentrate beneflt and give effectyve support at a useful level to charitable organi5ations the Trustees will generalty Iimil benefit to such organisations which are operating In the east of Scotland, north of the Firth ol Toy. They may exceptionally give to charitable organisation5 operating outwith that area but will in any event Irorn time tct time give outwilh that area to the ganisalion5 favoured by the'founders, (see below}. For th8 wrposes this note r8g8rding grant.making policy, the 'lounders' a￿ ctsnsideied to be. lal 8rigadler Jame5 A Oliver, of Wesl Newton, thbfoath and his wife, Mr5 Margaret W Oliver and Ibl Mrs Amy Barnet Skea of Nolt Loan Road, Arbrgath. The founook cost. Future Strategy No signlficant changes are presently envisaged In the trust's ￿1cleS as outlined ab￿e. Auditors So IAr as each trustee is aware, theie is no relevant audit Informats"on of which the auditor5 are vnaware. Each trustee ha5 taken rhe steps that they OLJght lo have raken as a tiustee to make themselves aware of any relevant audit information ènd to est6b¢ish that the auditors are aware of that informètion. Approved by the Trustees and slgnod on thelr behalf: l T Townsend Date ABERBROTHOCK SKEA TRUST stavtement of Trustees'Responsibllltles The Trustee5 are resKK)nsible for preparing the Tru5tees' Report and the accounts in acmrdance with aP￿icable law and Unlted Kingdom Accounting Stsnéards (United Kingdom Generally Accepted Accounting practi￿). The Law applicable to charities in Scotland requi￿$ the Trustees lo prepare accounts for t￿h financial year which give a true and fair v￿W of the stale of affairs of the chaiity and of the incoming resources and applic8lion of resources of the chanty for that period. In preparing these accounts, the TnJstee5 are required to.. select suitsble accounb'ng PL4icies and then aFply them consistently., observe the metl*)ds aThJ pnnciple5 in the Charities SORP,. Make judgments and estimates that are reasonable and prudent., state whether applicable accounting 5tsndard5 have been f911owed, subject tts any material departures disclosed and explai￿ In the accounts,. and prepare the accounts on the going concern basts unless il is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accovntin9 records that disclose with reasonable accuracy at any tlme the flnancial PQSltion of the charity ana enable them lo ensure that the aceounts comply with the Charifies and Trustee Investment IScotlan¢l Act 2005, the Charities Accounts (Scotlandl Regulations 2006 lès Jmendedl and the provisions of the charity's constitution. They are also responsible for safeguarding the assets ol the charity and hence for tskln9 rea50nèble steps for the prevention and detection of fraud and other Irregularlties. ABERBROTHOCK SKEA TRUST IndependentA{￿ltorS report to the trustus of the Abwbrotho¢kS*éa Tntst Oplniofi We have audited the financial statements of the Aberbroty)cKk 5kea Trust Ilhe charity'l for the period ended 31" January 2024 whKh comprise the Statement of Financial Activities, the Balance sheet, and the related wtes, including a Summary of Significant ccounting po5icies. The financial reporting framework that has been applied in their Preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 rhe Financ￿/ Reo)rting StandardapplKable in the UK and RepublK of JrelJnd (United Kingdom Generally Accepted Accounting PractKel. In our opinion the financial 5tatements'. gwe a true and fair view of the state of the charity's affairs a5 at 31tt January 2026 and of ils incorre and expenditure for the year then ended,. have been properly prepared in Kcordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charitie5 and Trustee Investment IScothnd} Att 2005 and Regulatlon 8 of the Charities Accounts (Scotlandl Regulations 2006 las amended) 8•s1$ of oplnlon We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAs IUKII and applitable law. OUT responsibilitie5 un¢Jer those Standards are further described In the Audltol's responsibilitles for the audit of the financial 51alementS section of our report. We are independent of the charlty in accordance with the ethical requirements that are relevant to our audit Of the financial statements in the UK, Incluoing the FRC'S ElhKal Standard and we have fulfilled our other ethical responslbilities in ccordance with these requirements. We telieve that the audit evidence we have obtained is sufficient and appropriate to provide a basls for our oplnion. Con¢lu$lons rel•tln9 to goln9 concern In audlting the flnancial statements, we have concluded that the trustees, use of the ggin9 concem ba515 of accountsng in the preparation of the flnancial statements is appropriate. Based on the work we have perfwmed, we have not Identifled any malerlal uncertainties relating to events or conditions tha¢ Individually or collectively, rnay cast significant doubt on the tharity's ability to continue as a going concern for a Feriod of ol least tswelve months from when the nnancial 5ts1ements are authoriseo for Issue. Our re5pJnsibilitie5 and the responsibilities of the trustees with re5pert lo goSng concern are descrlbed in the relevant sections of this report. Other Informatlon The other Information comprises the information include(1 in the Report of the Tru51ees, other than the financydl statement5 and our auditor's report there¢n. The Trustees are responsible lor the other information. Our opinion on the financial statements does not cover the other Information and, except to the extent otherwise explicitly stated in our report, ¥ye do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, oui reswnsibility Is lo read the other information and, in doing so, consider whether the c*ther Inlormation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we 1Oenlify svch materlal Inconsistencles or apparent material misstatements, we are required to deterrnine whelher there is a material misststement in the financial statements or a material msstatement of the other inforrnation. If, based on the work we have performed, we conclude that there 15 a material rn1551atemenl of this other information. we are requ1￿ to rem ihal fart. We have nothing to report in this fe9ard. Mptters on whkh we are r•qulr¢d to report by exceptlon In the light of the knowledge and understanding of the tharity and its environment obtained in the course of the audit. we have not Identified material misststements in the trustees, rep)rt. We have nothing to report in respect of the following tnatters in relatiETrn lo whKh the Ch?r4bes Accounts Iscodandl Regulations 2006 (as amended) requi￿5 u5 to re[￿rt to yrjts if, in our opinion.. the informatDn given in the trustees, report is inconsi51ent in any material respect with the financial statements,. or proper accovntsng recorcjs have not been kept,. or the financial statements are not in agreement with the accounbng records- or we have not received all the information and explanatI(￿swe require for our audit. ABER8ROTHOCK SKEA TRUST rndependentAudltors report to th¢ t￿￿te￿ of theA&erbrothockSkea Trustfcontj Re$portsibillties of Trustees As explained rnore fulfy in the Staternent of Trustees. responsibilities the trustees are reswsible for the preparation ol the flnancial statements and for being satisfied that rhey give a true and fair view, and lor such Intemal control as the trustees determine is necessary to enable the preparation of financial 5tatement5 that are free from material misstatement, whether due to fiaud or error. In preparlng the financial 5taÈrnents, the Trustees are responslble for a55e55ing the char*ty's ability lo continue a5 a going concern, dlsclosing, a5 applicable, mattels related to golng concern and using the goir4J concern basls of accounting unle55 the Trustees either intend to cease operab'ons or have no realistic alternative but to do so. Audltor's respon$lbllltle$ for the audit of the finJncAal stst•ments We have been appointed as auditor under section 44(L}Icl of the Charitie5 and Trustee Investrnent (Scotlandl Att 2CK)S and report In acwrdance with the Act ènd relevant wulatlons made or havlng effect the￿￿nder. Oui objectives 8re to obtain reasonable assurance about whether the financial statements as a whole are free from material misstaternent, whether due to fraLKI or error, and to Issue an auditor'5 report that Includes our oplnion. Reasonable assurance Is a high level of assurance, but is not a guarantee that an audlt conourted in accordance with ISA5 IUKI will always detect a material misstatement when it exists. Mi55tstement5 can arise from fraud or error and are considered material if, individually or in the oggiegale, they could reasonably be expected to Influence the economic decisions of users taken on the basis of these financrdl statements. Irregularstles, Inclulllng fraud are Instsnces of non-compliance with laws and regulatlons. We design procedijres in 1Sne wlth our resronsibilities, outlined above, lo delect material miss.stalements in respect of irregularitles, I￿lU(lIng fraud and non-compliance with laws and regulations is detsised below. The audit teèm has appropriate skills and expertise required and through dlscusslons with managemeni and trLJStees and krwkdge of the sector to ensure any non.compliance is recogniseé and all necessary disclesures are mède. The controls In place help the charity mltigate the risk of Iraud and also aids them in hi9hlighting instances of fraud that rnight have occurred. The extent to which our prtxeduw are capable of detecllng irregularitle5, including fraud, is detailed below. Making enquiries of rnonagemenl about any known or suspected Instances ol non-c¢)mpliance wlth law5 and regUlat￿n$, includlng GDPR, health and safety, licensing laws, employment law and fraud,, Enquire of management & trustees as to where they consider there Is a suscepribiiity to fraud and their kno¥yledge of how actual, suspected and allege¢Y fraud migttr occur., Reviewing minutes of meetln9s of those charged with governance; Review of correspondence with regulators includSng 05CR,' Review of any areas where there is potential of management bias, large & unusLbal Iransactlons and the risk of undisclosed related partie5.' Avditing the risk of management override controls, including through testing ol journal entr￿$ ènd other adjustments for appropriateness Because of the field in whlch the charity operates in, we idents'fie(I the followlrYJ areas as those most1Skely lo have a malerial ImpKI on the financial statements.. Llrett Impact on the Financial 5tatements'. Charities Trustees and Investments (Scotlandl Act 2005 The Charits'es Accounts Iscouand) Regulations 2006 SORP- FRS102 Indirect Impact on the Financial Statements: GDPR and Data Protection Act 2010 Charities Constitution OSCR requirements BecaL*se of the inherent limita¢h)ns Of an audit, there is a risk that we will not detect all irregularities, i￿ILtding those leadin9 to material misstatement In the financial statements or non-compliarKe with regulation. ThSs risk increases the more that compliance with a law or regulatyon is removed from the events an(J transactions reflected In the financial staternents, a5 we will be less likely to become aware of instances of non-complonce. The risk Is also greatei regarding irregularitie5 occurring due to fraud rather than error, as fraud Involves intentic>nal concealment, foryery, collusion, omission or Misrep￿ sentation. A further description of our spon5ibililies Is available ￿ the FRC'S website al.. https'.Ilwww.frc.org.uk/librarylstandards-codes-policy/audit-assurance-and- ethics/auditors-responsibilities-for-the-auditl.This description fwms part of our auditor's rep)rt. A8ERBROTHOCK SKEA TRUST IndependentAuditors report to the tn￿tee5 of theAberbrothoc* Sk•a Trust(cont) Other Matters whl¢h we are requlred to addre5$ The financial statements were not audited in the prior year, Therefore, addit￿nal audit procedures have been carried out to obtain sufficient appropriate evidence that the opening balances do ￿t contain any misstatements that materially affect the current peiiod s financial statements. Use of our R•port This re￿rt is made solely to the Iru51ees, a5 a body, in accordance with Section 44 {1)(cl of the Charities and Trustee Investment {Scotyandl Act 2005 and Re9ulation 10 of the Charities Accounts IScoUandl Regulation5 2006 las amended). Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor'5 report and for no other purpose. To the fullest exlenl permltted by law, we do not accept or assume responsibility lo anyone other than the charity and its trustee5 as a body for our audit work, for this report, or for the opinlons we have formed. Findlays Audll Limited Charte￿￿ Accountants statutory Auditor I l Dudhope Terraee Dundee DD3 6TS Findlays Audlt Limited are eligible to act as auditOT of the charity by in terms of section 1212 of the Companles Act 2006. 10 ABERBROTHOCK SKEA TRUST Balance Sh¢et •$ •t 31 January 2026 Note 2026 Restated 2025 Flxod Assets Investrnents Her1¢a￿e Property 5,690,707 5,30S,g)3 5 715 707 5 330 903 Current Assets Cash on Deposit and on hand 63,321 245,B84 Current Llabllltles Creditors due wlthin one year Nrt Current Agg•tg 19,539 208,401 Credbtor4 due •fter more than one y••r Total N•t A8l•ts 5 735 246 5 539 304 Represented by.. Tot•1 funds at 31 J•nuary 2026 5 735 246 5 539 304 l T Townsend ABERBROTHOCK SKEA TRUST Notes to tho Accounts l. Accounting Policies Aberbrothock Skea Trust Is an unincorporated charity operatirKJ under a Trust t)eed and wa5 registered with OSCR on S DecernbBr 2007. Its reg15tered office Is I￿at£0 at Thofntons Law LLP. Biothockbank House, Arbroath, DDII INE. The accounts are prepared under the hIs￿rICal cost conventthi as modified by the revaluation of investment assets aThJ include the results of the charity'5 operatkws as Indicaled In the financial rewjrt, all of ¥4bich ale continuing. The accounts have been prepared in accwd•￿e with the Financial RekK)rtin9 srandard applicaNe in the UK and Republic of Ireland IFRS 1021, the Statemént of Recornrnended *acti￿.. 'Accountiry and Rep)rting by Charrtles prepariThJ their accounts in accordance wth FRS 102" ISORP FRS 1021 and coM￿Y with the Charities an¢J Trusiee Investment IS¢otlandl Ati 2005 and the Chafilies Accounts Iscotlandl Regulat￿n9 2006 las arnendedl. The accoun15 are prepared In sterling vlhich is the funttionol currerKy of the trust. Monttèry amounts ￿ these accounts we rounded 10 the ￿Orest l or nearest è5 appropriate. Th¢ trust cwstitute5 a public benefit enuty as deflned by FRS 102. Golng Concern The rrusrees consider that there a￿ rn material uncertaintf5 atoul the trvst's ability to continue as a goin9 concem. ￿th respert to the I￿¢ reporting perlod120251, Ihe most s￿nificant areas of ￿￿ertainty that affett Ihe carrying value of assets held by the trust afe Ihe lével of Investmenl rerurn and the performance of Investment ma￿ets (see the'lnvestrnent Policy and PerfO￿anCe, and 'Ri5k mana￿ff￿nt, section5 of the trustee5' annual report for mtre fftformationl. Capital and Re￿nue funds are up￿str￿¢& funds whKh are aVaila￿e for use èt the disuetts)n oftheTrustee5 in furtherance ofthe general objeciives ol the Trust and which have not been desvJnared for Jny other purpose. C*signèted Funds are unrestrlrted funds earmarked by the trusrees for speclfit luture purposes. Income wmprises Income from In￿SimentS and depDsilS ¥¥hich Is Induded In tne Statement of Finar￿la1 Activiries ISOFAI In the year In which ￿ 15 receivabl¢. The Trust Is a registered charity and apart from dividends èrising from UK equity hddings Is exeffjpt from taxal￿n on its irtome and gains. EX￿ndIt￿￿ •ndlrr¢cover•bk YA T All expenditure Is irKluded on an accruals basis aThJ Ls reco9nised when there Is an obligaticfi to pay for eKFendrture, Irrecoverable VAT 15 included n the related expendItu￿. 'charItab￿ Activitie5, comprise the payment of grants to char+Des together with any expenditure Incurred by the charity in ￿etIng it5 charIta￿e ob)ectwe5 Isupwrt Costs). As opposed 10 Governance costs or the cost of raising Ihe funds to finance these activit1es 'GovernarKe costs'are the costsassociated wirh the governance arran9ements olthe charity, Including Audit N Independent Exarninat￿n, legal advice lor tru5tee5 and a proportion of the costs associated with constilurKtrnal and statutory requirements, for eyample trustee Meetin95 and preparlng sratutory accounts. Grants Grants comprise thJse pawj In the accountin9 period aTh1, applicable, Include grants payable In fuLure accountlng periDJ5 where there exlsts a legal obligation to make S￿h payments. Investments are included ai market vakje. Reali5ed gain5 and losses, repfesentlng the dfftererKe tse￿een sale proceeds an¢ cost, are treared capital and are thalt wilh In the SOFA, Uniealised 94ins and kJsse5, representing the movement In the rnarkel value of InVeStr￿nts over the finarKial year, or from the date of purchase If ¥quired durirvJ Ihe financK)I year, are shown in note 8. Herirable properry is initially measured at cost and subsequently rr*asured at cost or valuatr"on, net of deprff￿tKJn and any 1mpalrment10sses. No depreciation is rect)Jn5*d on herY(able property as only land Is hekl, which LS not depreoated. At each reportlng dite, the char¢ty re￿￿ the carrying amounts of the heritable Pro￿rtY to determine whEther there 15 any IndLation that Ihese assets have suffered an IMpa￿rInentlO5S. If any Such Indicatbn exY5ts, the recoverable amount ￿ rhe a5Sd is estima￿￿ in ort1er to deiermine ihe extenr ol rhe mpairment loss Irf anvl. Cash èt bank Includes cash hekj in a deposir or similar accwnt. Liabilities are recognised wFEn there Is an obligation at the Balan￿ Sheet date as a ￿Ul1 ￿ a past event, It ts probabÈ that a transfer of eCI￿oM benefit will be required in Settlement, and the amount of the 5ettknent can be estiwnated rEliably. Liabilities are retogni5ed at the amunt that the charity anticipates It will pay 10 Settle the debt or the amount it has received as advanced payments fDr ihe good or service5 It provide. Provisions are measu￿4 ar the best estinate of rhe amtyjnts requir￿1 to 5eitle the otAigation. Where the effeLt of the time value of mmey is 12 material, the provision s based on Ihe present value of those amwnts, discounted at the pre-tax dlsctsunt rate that refiects the nsk5 specrfic to the Ikability. The unwindiry Df the disceunt Is recognised within inte¥e5t payaye ar¥J similar charge5. 13 ABERBROTHOCK SKEA TRUST P4ote5 to the Accounts (cont) l. Accountlftg Polleies (cont) In the applKation of the charity's accounting p￿Ic￿, the tru5teÉ5 are reouired to tnake IL¥Jgements. estimates and è55umption5 abwt the carrying amount of assers and Ilabilitse5 that afe not readily apparent from other sources. Tbe estimates and assoclared assumptKsns are based OD historical QXPenen￿ and other fartors that are consldered tv be rdevant. ActLkil results may differ from these E5tirnate5. The estlmate5 and undertying assumpdons are rewe+Jed on an ongoin9 basis, Rev￿10￿5 to accwnting e5timaie5 a￿ recognised in the period In which the e5tirnate is re￿$¢d where the rewsion affects only that period, or in the period of the revision and futu￿ peryojs where the revis affects both current and future perirAs. Key gothxos of estlmatlon ￿t•rtaInty Attrual$ Trustees estimate the requlrements for ?ccruals usiw post year end Informatlon and information available Irom detailed bJd4*ls. Th15 Identifies Costs that are expected to be Incurred f￿ services provided by other parties. Accruals ale only released when there Is a reasonable expert3tic that these wsts will not be Invtyced the future. 2. Income from generated funds As Resraled 2025 2026 Dividend5 and Interest, per ApFendix I 140 550 154 122 3. Charlt•ble ArtlvltSe$ {1) Grants p•ld or ¢ommltted In y•aT to oryonlsatlons for 9•n*r•l purposes- Variou5 grants of £5,000 ef Se55 per appendrx 2 132,7SO 114,250 Support Costs (per Note 4) 58,220 57,899 190 970 172 149 e., all g￿￿ts pald were for Char￿able expenditure in line wllh the constitution af the varlous charlties 2026 Charltabl• Acilvltlej 4. Support Costs Thorntons Law LLP, administration fee5 Au(Jit lee Altar Agency- PR expenses Governance Total 32,000 16,020 6,000 48,020 6,000 As Restated 2025 Total CharStable Activities Support Costs Governbn Thorntons L)w LLP, administration fee5 Independent Exarnination fee Trustee expenses 36,000 IB,040 3,600 259 54,040 3.600 259 No expenses or other forrrs of renumeralion were paid to trustees the year ended 31 January 2026. The tfust has no employees. 14 ABERBROTHOCK SKEA TRusr N¢teg to the Accounts (cont) 5. Funds Deslgnatsd Fu•)d Unrestrlrted Totsl Capltsl Revenue At 3181 January 2025 Surplu5llDeficit} for the year 5,436,557 220, 142 52,747 (24,200) 50,OCX) 5,539,304 195,942 A* It 311t January 2026 5,656,699 28,547 50,000 5,735,246 At 31* January 2024 SurplusllDeficit} for the year 5,034,020 452 537 48,876 5,082,696 456 408 As at 31st January 2025 5 486 557 5 539 304 The unrestricted fund5 of the tharlty comprise the unexpended balances of dOna￿On5 and grant5 whlch are not sutyett to speclflc condition5 by donor5 and grantor5 as to how they may te vsed. These Include designated fund5 whlch have been Set ashle trjt of unre5trtcted funds by the trustees for speciftc purpose5, The trustees have ￿$01Ve{l to set askje E50,000 Irom Un￿trtrt¢d funds as a 'Speclal ReseNe" whlch could be used to supwt projects whlch might not otherwlse get off the ground and thus posslbly asslst charlties in securlng matched fundlng. 6. Colts of generntlng fund• 2026 As Re5taled 2025 Portfol50 Management fees.. Rathbones Investment Management 7. Herlt•ble Property 2026 2025 Albtment Ground, Hayshead, ATbroath 15 A8ERBROTHOCK SKEA TRUST Notes to the Accounts {cont) 8. Investments Total Book Value as al 31.01.25 Unrealised appreciation as al 31.01.25 3,483,872 1822 031 Movements in year.. . Purchases at cost Sole5- proceeds realised gains Increa5elldecrease} in unrealis& appreciatson 5,305,903 1,469,441 {1,363,1151 503,209 224 731 Marf(et Value as It 31.01.26 per Appendlx 3 5 690 707 Book Value as at 31.01.26 Unrealised apprecialionlldeprecialionl as at 31.01.26 4.093,407 l 597 300 5 690 707 Tota Book Value as at 31.01.24 Unrealised appreciation as al 31.01.24 3,312,869 1 556 539 4,869,408 MokEments in year.. . Purchases at C05t Sales- proceeds realised gain5 Increase in unrealised appreciation 682,841 (751,0951 239,257 265 492 Marker Value as at 31.01.25 5 305 903 Book Value as at 31.01.25 Unrealised appreciation as at 31.01.25 3,483,872 1822 031 5 305 903 2026 2025 Investments It51ed in the UK Investments listed OU￿.de the UK 3,191,425 2 499 282 3,244,571 2 061 332 5 690 707 5 305 903 Materl•l interests by value: The truslees consider individual investment holdings in excess of 5% of the portfolio value to be rnaterial. There were no material investments as al 3151 January 2026. 16 A8ERBROTHOCK SKEA TRUST Notes to the Accounts (cont) 8. Investments (cont) Investment Rlsks FRS 102 requires the disclosure of information in reL4tion to certain Investment risks. These risk% are set out by FRS 102 a5 fo11ows'. Credit risk, this is the risk that one party to a financial instrument wlll cause a financial loss for the other party by failing to discharge an obligatron. Marketnsk. this comprises currency risk, Interest rate risk and other price risk. Currency rlsk. thi5 IS the risk that the fair value trr future cash fiows of a financlal asset will fluctuate because of changes in foreign exchange rates. Interest rate rtsk. this Is the risk that the lair value or fLtrture cash flows of a financial asset will fluctuate tecèuse ol changes in market Interest rates. other prKe nsk. this Is the risk that the fair value or future cash flows of a financial asset will fluctuate because of changes In market piices (other than those af15ing from Interest Tate risk or Cufrency risk), whether those changes are caused by factors specific to the individual financial instrument or its issuer, or lattor5 affecting all similar financial instrurnents traded the market. The Charity has exposure lo these dsks betau5e of the investments it makes to implement its investrnent strategy. The Twstees manages investment r15ks, Including credit r15k and rnarkel risk, within agreed risk limits which are set taking into account the Charity's strategic Investment objectives. These Iriveslment oblectlves and risk limlls are implernenled through the Investment manager agreements in place with the Charity's Investment managers and Monito￿ by the Trustees by regular reviews of the invesrment pJrtfolio5. Further information on the Trustees, approach to risk management and the ChariV5 exposu￿ to C￿11 and market rlsks aw set out below. Cradlt Rlik The Charity invests In pcM)led investment vehicles and 15 therefore directly exposed to credll rlsk In relation to the Instruments it holds in the pooled investment vehKles and 15 indirectly exposed to credit risk5 arisirrfJ on the financial Instrurnenrs held by the pooled investment vehicles. Analysls of dlrect credlt rilk D1￿ct credit risk arising from pooled Investment vehicles Is rniligated by the underlying assets of the pooled arrangemenrs being ring-fenced from the pooled manager, the regulatory environments in which the pooled manager5 operate and diversification of investrnents amon9St a number of pooled arrangements. The Trustees carry out due diligence check5 on the appointment of new pooled investment managers arK5 on an ongoing basi5 monitor any change5 to the regularory ond operating environment of the pooled manager. Pooled investment arrangements used by the Charity comprise auth0ri5ed investment and unit trusts. Indirect credit risk arises in relation tc* underlying investments held in the trond pooled Investment vehicles. Thi5 risk 15 mitigated by only investing in woled lunds which invest in at least snvestment grade credit rated securities. Currnncy rlsk The Charity is subject to currency risk because some ol the Charity's Investments a￿ held In overseas rnarkets, via the pooled nveslment vehic*s. Interest rate risk The Chanty Is subject to interest rate risk through investments comprising bonds. Other prlo risk Other price risk arises principBlly in relation to equities held in pooled vehicles. The Charity manage5 this e¥p05ure to other price risk by constructing a diverse portfolio of Investments atross various markets. ABERBROTHOCK SKEA TRUST Notes to the Accounts (cont) 9. Credltops 2026 2025 Grants committed - due within one year Thorntons Law LLP, administration fees Rathbones, investment management lees Findlays, ayijit fee Findlays, independent examination fees 35,000 13,500 18,000 2,383 2,782 6,000 10. Flnanclal Instruments Restated 2025 2026 Flnandal ￿sets Financial a55eis rnea5ured at fair value ihrough staternent of financol aaivities 5 590 7117 5 305 903 Finèncial liabilitks measured at fair value through stateff*nt of fironck41 actNities 43,782 37,4 Financial assets m￿SUre￿ 8t lair v•lue through 51atemenr of financial artivities comprLse ol11sted InveStM￿ts. Financkryl liabilitie5 are measured ar fail value ihrough statement of financial act￿1[1e$ comprise of ciedirors and accrual5, 11. Related Party Tran￿¢tIOnS Thorntons Law LLP is a related party a5 there is a member on the board who Is a150 a consultant for Thorntons Law LLP. Stuart Matkie declared an interest In applications received by 6111 Glarnis Scout Group ènd Arbroath & Mtsntrose Distrlct Scout Council ahead of the Trustees Meeting dated 16 April 2025. lan Townsend declared an Interest In the application received from Friockheim Genealogy & History Groupi Janette Fairlie declared an interest in the application received frorn Crohn's & Colitis UK and Leila Martin declared an Interest in the application received frorn 6urn5ide Primary School, all ahead ol the Trustees Meeting dated 27 August 2025. Janette Fairlie decla￿￿ an interest in the application received from Arblrlot Old Klrk Trust and George Dunlop declared an interest in the application received from the ArbrNlh Rotary Club, bDth ahead of the Trustees Meeting dated 3 Decernber 2025. During the year the cttarity entered into the follgwing transartions with related parties.. 2026 2D25 Thornton5 Law LLP, administratron fees 615t Glamis Scout Group, grants awarded Arbroath & Montrose District Scout CoLJncil, grants awarded Friockheim Genealogy & History Gioup, grants awarded Crohn's & Colitis UK, giants awarded Burnside Primary School, grants awarded Arbirlot Old Kirk Trust, grants awarded Arbroath Rotary Club, grants awarded 48,020 1,500 2,500 54,040 2,000 3,000 2,000 000 18 ABERBROTHOCK SKEA TRUST 12. Prior Year Adjustment Due to the lequirement of the charity to prepare accrueL1 accounts, rather than receipts and payments In the prior yeèr, comparative figures have been reststed. The effect of these restatements is summarised below.. Changes to the balance sheet At 31 January 2025 AdSustment As pre¥louslv reported As restated Flxed Assets Investments Heritable Property 5,305,903 25,000 5,305.903 25,000 Current Llabllltles Credrtors due within one year {37,4831 137,4831 Income Funds Unrestricted funds 245,884 5,293,420 5,539,304 Total Equlty 245,884 5,293,410 5,539,304 Changes to the proflt and lo￿ auount At 31 January 2025 Adjustment Ai prevlouslv rn￿t•d As fest•t•d Income from: Investment Incorne Net proceeds from investment transactions 153,855 68,520 266 168,5201 154,121 222,375 (68,2541 154,121 Expenditure on: Charitable activifies and governance Managing funds 164,049 30,423 8,IC Iiioi 172,149 30,313 194,472 7,990 202,462 Gain on disp05a Appreclabon of Investments 239,257 265,492 239,257 265,492 Net gainsl{lossesl on inveslfnents 504,749 504,749 Met movqment In lunds 27,903 428,505 456,408 19 A8ER8ROTHOCK SKEA TRUST Notes to tho Accounts (cont) General 14otes regardlng the Financl•l Serylces and Markets Art 2000, Law Soclety Rules and Related Matters l. Znvestrn•nt Man49•rs The trustees arwrowe rhe continued apwintment of the Investment Manager5 as detsiled ID the Report of the trustee5 in these Accounts, and the same basis as conrèined Ip the InveSt￿nt anLI F￿nanCIal Sefykes Terms of Business Agreement curontly ID force, 2, Audlto The trustees approve rhe continued aprx)Inrment el Auditors as detailed In the Repcrt DI the trustees In these Accounts. 3. Nomlneeshlp The trustees approve tbe continued appointment of tne nominee C￿panY as detai￿d In the General Informatson settion In these Accounts to continue to hold certain or all ol the Investments owned by the trustees, and that w the same ba51$ a5 contair￿d in the InvestTr£nt and Finanthal Semces Term5 of @usine55 Agreement cwrently In fryce. Aberbiothock Skea Charltable Trust Year ended 3113nyary 2026 Appendlx I Summary of Dlvldends and Interest Nei IrKpme Appendlm UK Company Olvldends per Rathbones App I lal 64,267 UK Unll Trust and OEIC dlvs per Rathb04)es App I lal 17,843 UK Unlt Trust and OEIC Interest per Rathbones App I lal 6,234 UK Gllt & Other Interest IGrDssI per Raihbone5 App I lal 9,083 Property In¢ome Dl$trlbutlon5 pèr Ftathbones App I lal 3,121 Forelln Olvldend Incorne per Rathbones App I Ibl 22,577 Foielin Interest per Rathbones App I Ibl 12,563 UK Deposlt Interest (Net) per Rathbones per Thorntons Law LLP 4.772 90 Total 140,550 Appendix 2 Aberbrothock Skea Charitable Trust Year to 315t January 2026 D15trlbutlons under £S.000 Oate 2310412025 1210512025 121OS/2025 1210512025 1210512025 1210512025 13105/2025 1310512025 1310512025 1310512025 1310512025 1310512025 1310512025 1410512025 1410512025 141OSI2025 1510512025 1610512025 2010512025 0910912025 0910912025 0910912025 1010912025 1010912025 1010912025 1010912025 1010912025 1010912025 1010912025 1010912025 1610912025 1610912025 1610912025 1610912025 1610912025 1610912025 171Dg12025 17109/2025 1710912025 1710912025 Name To Arbroath and Carnoustie 8and To Mid Lin Daycare Centre Ltd To PBC Foundation UK Ltd To Hearing Dogs lor Deal People To Scottish Spina Bifida Association To Deaf Links To Arbroath and Montrose District Scout Council To Haysheaoj Primary School To Frrend5 018arnhill Rock Garden To Perth Autism Suppori SCIO To Arbruath Youth FC To 61st Glami5 Scout Group To Adoption and Fostering Group Angus To Kirrie Connections To Feeling Strong SCIO To Scollish Action for Mental Health To Tayside Council on Alcohol To Carnouslie Musical Society To The Squeeze To Westmuir Hall Association To Montrose Air Slatitsn Museum To Blairgowrie Rugby Football Club To Early Years Scotland To Inverbroihock Out of School Care Club To Capability Scotland To Broughty Ferry YMCA To Crohn5 and Colit15 LIK To Euans Guide To Monilieth Befrienders Fo K and D 8efriending ro Army 6enevolenl Fund To Dundee Starter Pack5 SCIO To North East Sensory Services To British Liver Tru51 To 8eavtiful Perth To Angus Housing Association Limited To Music in Schools To Royal Air Force 8enevolenl Fund To Dundee Rep and Scotlish Dance fheatre Limited To Kids Cancer Charity E2,000 Éi.000 £1,000 £1,000 £2,000 £2,000 £2,500 £3,000 £2,000 £2.000 £2,000 £1,500 £1,000 £2,500 £1,000 £2,000 £i.000 £2,000 £1,000 £4,500 £2,000 £2,500 £2,500 £3,000 £2,000 £2,000 £2,000 £3.500 £2,500 £2,500 E2,000 £2,000 i.soo £2.000 £i,soo £1,500 £2,000 £i,soo £2,500 £2,000 1710912025 24/0912025 29/0912025 3111012025 2110112026 2110112026 2610112026 2610112026 26/0112026 2610112026 3110112026 3110112026 3110112026 3110112026 31/0112026 3110112026 3110112026 3110112026 3110112026 31101/2026 3110112026 3110112026 3110112026 3110112026 3110112026 3110112026 3110112026 3110112026 3110112026 To lust Bee Productions To Friockheim Genealogy and History Group To 8urnside Parent Council To Poppyscoiland To Strathmore Cricket Club To Friockheim Community Hub To The Salvation Army To Guide Dogs for the Blind Association To Royal National Lifeboat Institution To Barnèrdos Fundraising Account To Tayside 4x4 Response To Maggie5 Dundee ro Arbirlot Old Kirk Trust To Arbroath Pipe 8and To Arbroalh Amateur Boxing Club To Erskine Veterans Charity To Dundee Therapy Garde To Rotary Club of Arbroalh Charilable Trust Fund To Teenage Cancer Trust To TCCL Lodge To Perth Festival of the Arts Ltd To Victim Support Scotland To Tourette Scotland To Barnhill Alter School Care Club SCIO To The Glene5k Trust To Canine Concern Scotland Trusl To Her Story Scotland CIC To Muirfield Primary School Parent Council To Angus Young Engineers £2.500 £i.000 £3,000 £2,2SO £2,000 £2,000 £2,000 Ei,000 £1,000 £2,000 £2,000 £3,000 £2.000 £3,000 £1,000 2,000 £2,000 £2,000 £2,000 2,000 £1,500 £2,000 £1,000 £1,500 £1,000 £1,500 £2,000 £1,500 £2,000 1810712025 The 5queeze- grant returned Idisolved Charity) -£1,000 Total £132,750