ThÉ ALBYN FOUMDATION
REGISTERED CHARrrY NUIIBER SC039B94
COMPANY NUMBeR SC348754
FINANc￿L STATEPAENTS
FOR THE YEAR ENDED 31 JULY 2025
12 CARDEN PLACE
ABERDEEN
AB10 1UR

TNE ALB YN FQUNDATIQN
CONTENTS
Page
Trustees. rewrt
Independent auditc<s
Staternentdfnancial 2th1t￿5
Baancè shÈ
Staternenl clca5h
10
Notss to the fnanLyal staknents
11-17

TNE ALB YN FQUNDATIQN
TRUSTEES. REPORT I1￿LI1D1NG DIRECTORS. REPORTI
FOR THE YEAR ENDED 31 JULY 2025
The tnJsieÈs ryÈSenttr￿r annual Str￿nts fv*thÈyear*￿ed 31 2025.
The finanual slalemenLs have been prepared in acC¢)rd¥￿ *i"th accountiry ￿KieS ￿t wt in note 1 to the financial
statemonts and ComF￿Y with Iho charitable c￿T¥a￿lS and AJtides of A￿s￿￿allOn Charthos ard Ttustee
Investrnent Iscouandl Ad 2005, Ihe cha￿th￿ AC￿nts.sco￿￿I Regu￿1￿￿￿ las aMer￿edI￿d.AcC0￿lI￿g and
Reportsng by Chartbes." Statetnentof RecarnmetNled Pr&tLe lo th￿tse5 wepariDg IhfflraEEDunts in aGcordan(x
YJlth Ihe Fnancial Reportin9 Si8nO¥d UK of I￿Trand IFRS 1021" leffeai¥e 1 January 20191
Obj2CtNes and activthe5
main objective of the eharitstrde conwny is than(M￿l educalK￿ forlhe pL*A￿ benefrt. The eharitaNe company
ayns to raise through vinous futKJraNng illrtHbves and dona￿￿5 for the pwpo* ￿ granting and eSta￿lS￿l¥j
bursaries. scholarships a[￿ prizes. The58 grdnts. bursanes atvj sdKlat5hps %vll be awarrjed to any Charit￿￿ educational
tsiablishment appioved by ihe tr￿let$ •d to PLyls aThJ Swdents any of these apwoved educaknon81
¢$¢a￿l$r￿n•)ts.
Achlevements and performance
S￿0￿(￿&￿taCti'11tieS andsGhie¥enwtsayainsl L*ye¢in
Thp tharitatde (*nthnued 10 ie¢*ve reasonatAÈ leve& of%knatKJrts. tthYeverihÈse are loww than we have seen in
cttnty￿rs. Th* chantauè comwny has stil been ab￿ to make 9rant ayra￿S in linè wth ts than￿￿tr objecbvès.
Financial review
The SLYdu5for the year amounw lo £9.54812024.. £2431.
11 is the Board$ ￿leY to aim tts rèkin sufficient funds ￿ 8Jknv timety granting of awaffjs and exp8nses ttr appropriaie
pewts. Toia unr8StrKied ￿Tr*saI th& baarte sheei dats anb>Jntsd 10 £154.47612024." £144.9281.
Rese￿$ pthy
Unrestrct4d ￿ner•I fuids- Ih•% are fvJTrdswthKh t4 L*4d ￿ xc¢r￿CO with tharitable c4•cts al th• d￿ret￿n of
ihe Iruslees
The ¢haritsSk ¢orya)y has nsk management pdKes and rKocedures lirough which nsks wsing frtym the exislrvj
Operat￿n5 and deVd0pm￿lS are identified ewdluated. The t￿￿eS ale requyed to identify and ￿alyse risks relevant lo
their scope of activibes., assess them accordirwJ to Ihe rnpxt on the charil*le cornpany ar￿ their Ikelihood ol occurren
and report on the procedures are in P￿￿. ar are be￿g devw ￿ e(*wiced. b wovKle ass￿￿￿ ihat thp nsk is
boing manèJ•d.
Plans forfuture perlods
The Iru*ee3 have W￿0v$ prgetts Unde￿aY 10 tatse awarenéss and incory* in the ¢¢min9 ye¥. This. tO9etr*r wth
8¢cumulal8d surplus. alow to colD￿ to ward grants. ￿K$arleS and h¥dship wards ￿ the comr
year.
Structure, govomanc• avwj Managem￿1
The Albyn Foundation ia charitatrAe c(Thpany limited by 5uaranteel is goveffled by Tis M&m(YatKlum ènd ATticleg of
Association The cornpany was ITwotated on 18 _￿pteThber 2008 and rt 15 a registered Gharity. In the event of ih
ch8ritatAe company berywwnd w. li8blty in resr*ct ofthe ￿arantee ￿ iiTh)ted to £1 ￿n￿n￿er.
ReGnntrneM aFKIap￿I￿ffjentOft￿￿Iees
The numb&" of tru8tsÉs of the charl￿DIe ¢LM￿nY is not less than 1 than 20. The rnajoiity ef trustees are
quired lo be UK resiJ8ni aThJ *¢h rrwtsr of Ihe dgriiable ctynpany shall also be a 1rtts18e. Or* hrd of Ihe Irusi88S
rebre by ratation every 3 yeaE. Up)n retiral by rrrtath)n a perKffi may be itrwnled as a truslee rf hdshe consents lo s￿h
rP-4PD￿It[￿nta￿d such a￿l￿tment has the una[mmo￿ aprwovaloflhe reffl￿n1Th) tsustees.

TNE ALB YN FQUNDATIQN
TRUSTEES. REPORT I1￿LI1D1NG DIRECTORS. REPORTI ICONnNUEDI
FOR THE YEAR ENDED 31 JULY 2025
A trustèe Df￿byn Lmnited. G Bell. is aso a trus￿ ofthÈ FtyJnd*On.
Trustees adverti8e to atlract Cand￿aleS th3t COU￿ best the skils anc expffiffKZ fBquired to furlh8r ihe aims
8spiral#y6 of the Fourdabon. C¥*l￿aleS be *d Wwlhen beapwnted by theexising tnBiees folbwlig
ceipt of 8 signed aprAt4tron fcm. are ilVrt6d frem ¢an briro krwknledga *d expwBrte lo
cr more are3s such as secondary education. kgal. finartt. charda* tyndraiwry. or markeDryJ. These appI￿￿r6 ¥e tren
considerwj alon￿de the existiro truslees. skllset.
Organisalional sIFUCturg
tharrfable coryarty's cperatsw￿ are ovwseen by ofTnJstees ￿￿artY to rnC47rfN progi8S$ 8nd pbn
future Initialr￿s. The day to d3y njnnng of kne charit￿e ci)rnpary ￿ fflanaged by Graeme Park, Director of Finance Thp
8¢￿UntiTr9 ￿￿rdS are ma1)tsi￿￿ byGr*ft* PaT*.
Indithn andt￿ning￿￿trUsteeS
The Board strrrfes lo ensure Ihal Ihe m15￿￿5 are ar￿ th￿[ roles ￿ resp￿SIbIlit￿ as a ch3iW
trustee.
orhwmall6
Th8 IrJsle&s arg resp)n$￿t Iw the rnainiwwce and ￿l￿gritY ol Ihe Corp￿ale and financial Informal￿Tr induded on
llidritsb￿ Lt)InpdllyS websilE. LEY3￿AdI1C￿I iii the UrulEd ltiiTrgdtxti Wvwtlii￿ tKEVdratvn <ifKI tfjssett1iiith￿Tr uf fili<1￿1<11
st8tements may differfrom leg￿￿1￿ in tthrjuWthor6.
Refationslxp wilh relatedpertEs
Albyn School Limited a￿1 its puplsltK)kn'.￿l pwxLs are to be the benefKiarie5 of fu￿$ rais￿ by The Ajbyn F(￿ndat￿n. Ml
expenses ofThe Mbyn FoUrdatI￿ MEI by Abyn SdK>L4 ￿rnited. Abyn SL+￿ LitniiEd 15 IhE ultimBte p&rent (xxnpBnyof
Thp Abyn Foundat￿￿.

TNE ALB YN FQUNDATIQN
TRUSTEES. REPORT I1￿LI1D1NG DIRECTORS. REPORTI ICONnNUEDI
FOR THE YEAR ENDED 31 JULY 2025
Rgferonco and ￿nIStratIV* InfOrn￿on
Charfty narne
The Nbyn F￿￿da1
Charity number
SC039894
Comparby number
SC3487Y
Senbor managemdnt
G Parf(
Principal addwpss
17.23 Queen's Rt*d. Abwdeen. *B15 4PB
Reglstered vffl
2 Manscha Square. knrdeen. AB1U 1tx)
Auditor¥
MHA. 12 C8rden Plat& thrde￿. ABIO 1UR
Bankgrs
B￿k of Scthand plc.PenlatKI FbJ5e, Eth￿b￿. EH12 9JO
SolicitorB
Bwnès8 Paull LLP. 2 Mam¢hal Sguare. AL*dBerb. A810 1DQ
Trustéès
Thp trustee. ¥vho is a50 the dirpctor fr￿the putW5Eofcompanylaw, atwjwlm) 5etved th2 yearand up to the dale or
signalurtr ottht [￿antial *8tsments was".
G Bell
Statempnt of I￿SteeS, responsibilrfies
truste8s, ¥re also the (1Yect￿$ of ￿ ￿byn FuThY8IKn PLYP05e of rAynpany L¥w. ar8 re5Fthsbbfor
pr$panng Trustees. Rewrt firwts31 stsierwts In ac•)tdw¢e ￿th •p￿￿¥ble law Unit8d Ki￿d￿M
ArLounting Standards Iunited Generaly kn£pted kn￿nt￿g Prac11￿1.
Audilor
In accordanrk with thec(wn￿1S arith. a res(Aulion pro￿Th) Ihal MHA be rery￿r￿ed a5 auditor of the (x)rry)any wil b
put at a G￿￿[31 Meet￿g
Dl8¢losuroof inf0m￿tIOn ￿ audltor
Each oflhe trustees ha5 ￿nfi[￿￿* thalthwe s tK) irth)￿r￿1￿ Ilware is relevant to the audit. tyJt of
which the audil(K Is unaw¥re They have lurtFw thai F48ve 18ken 8ppr(wate *eps ￿ iyenity Such rdevani
f¢>rmakn and to t$￿ish Ihatthe *Jartc¥ ts aw*& of suth ItknTmaix¥).
truste8s' rewtW* approved by th& 8t*rd o[TrL￿O6S.
G Bell
Trustee
9 January 2026

TNE ALB YN FQUNDATIQN
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS AND TRUSTEES OF THE ALBYN FOUNDATION
Ownion
We have aLKlited thefinancwl slatements olThe ￿jbyn FourKlation ithe'thatilable (x)rrrf)ary l ftKtre yearended 31 July 2025
which comwise staement of f￿ancial8￿￿￿ts li￿dI￿) the viume 8ThJ t1p￿d￿u￿8(Ix)vrtI, ￿l$n￿ theei, the
Sl8lemenl ol¢ash fb¥4s and noieslo financ￿1 slaletrwts. irKI￿1￿9 swanffjt8nl a¢¢tyJthrvJ D(4jc*. The fin8wal reportnig
trJre¥vork tr8t has been appl*d in twr L7w and UniPd Kif9dom Acwuntsrg stsndards. incI￿1n9
Finanoal R8wding Stsndard 1112 Th8 Fin8nci81 Rep>t￿ SlandwYapplI￿t48 UK andRwi)kof Irgland IUDiie
Kingijom Generalty A￿pted Acowntiry Prthl.
In ourorinkjl. the ffin￿￿ staternents."
give a tnje and fairview ￿ the state of charita￿e uThp3rri's alfars a5 al 31 Jul5 2ry25 arKI of inc￿ning
resour￿ applt8frM d resour￿. ii¢hJdirg *$ In¢cAne experoiuie. forthe year then ended..
have been wepaed in ￿￿￿darK￿￿ith the requretnents ofthe Compan￿5 A(X 2￿.
Basls for oplnlon
We con￿c￿￿ wr audit in aCxor￿ce Wit￿ lTrtwrwtKnal sla￿ards (m AuJtir¥ IUKI IISAs IUKllaT* apphcable law. Our
respo￿bAltieS Lrder Ih05e standards are furher described in ￿At￿l￿OIS re4X)N￿bilitIeS forlhe autritoflhe finarjcial
si8iemeni$ 8ecbon ofw rep￿. We a￿ i￿eper￿1en1 ofthe d￿rrtable ¢thrp8ry in x¢xYthn¢e the etht81 reouirements
al are ra￿ant to ouraudil of thefnarKyal aatWnBnts ￿ the UK. It￿Lv￿￿9 IhE FRC"s EihKal Star￿rd. and we have fu￿lled
our ￿her elhKal responsibdil* F)a¢c¢rd¥Ke wilh these re9L4ren￿s. We W*ve that lh8 aLhStewd8rte we r@ve ebt8ined
is suffvenl and atprowiale lo prfjthe a bask% forour y¥on.
Concluslorng rela￿n9 tt* 9dn¥ ¢•rtem
In aud￿ng th8 finantial stxt8m@nts. have Conc￿d5￿ that uÈ8 ofth8 tyxng(x)n[￿tn basis ofaccwntity in th8
prepatatK)n of the fIna￿Aal 5tatem&nls is appro￿ale.
Base(l on work ￿ have perfoYme(l. have n(1 ￿entlfred ￿Y materi* rwatiry lo ev￿1$ or wAditi￿9 t￿1.
dNidu3Jly Lyixllectivdy. rnay casl swif￿art doubt on the ch￿ttab￿ IxNnpanys ath*ty lo ￿)ntinue a5 a wng ￿nI￿n fora
penod ofat kas1 months frcmTr*fien tsfinancol si*mertS areauth0￿ed Iw8.
r ￿￿n￿billIeS Ihe reswrwbiii*softhe Vith wr¥J wr￿ern we desuib•J in the relevant
secth)n$ of this rep(Yt.
Other information
Olher irformal￿n I>￿￿￿1$eS the inf0mw￿ irtIL￿ed i)the rwrtother than ststements and eur
8udilo¢s r8PC*t thereon. Tha tru$t88s ar$ res￿9￿8 fty Ihe other Infcffjna￿7 *ithn ts annual rep¢￿. opwiion
on the finaThJal st31ernents the5 mtcoverthe (ther information atKI. exce0 lo the extent01herw￿ explitxtty stated in aur
report. we do not express any fotm d assur￿ C(￿U5￿)n thBr￿n. Chjr re5W￿bIIty isto re* the olher inforrnaliDn ￿d. in
oin9 S¢>. eongider wh8th8r tho 0th8r ￿lOr[￿a￿ ia incon*tsi8ntwth th8 siat8tnBnt* Our
obtained in the cout5E Df the or 0lherwi5e appea5to be Th￿l￿alY ttXSslated. W we Qentify such Thterial
kiconsislenues ￿app¥￿1 maten* Mi$stal￿ents. &¥e ¥e requred to deterrrlne whetrtr th$ gives rise lo ¥ materi8J
misslatemenl in the financia staternents IheTnsdves If. basd on Ibe work we hgve ￿rf1￿M￿. we a￿dUde that there is a
mateiia tnisstaternent of this othei wrf(xrn3ti￿. we ate rewred to rewjrtthat
We have ndlyng to report tgwd.

TNE ALB YN FQUNDATIQN
INDEPENDENT AUDITOR'S REPORT ICONTINUED}
TO THE MEMBERS AND TRUSTEES OF THE ALBYN FOUNDATION
Ownions on other matter5 y•scribed by the cO￿￿nieS Ac12006
In our0￿n￿￿. based the Y￿rk un(lerlaken in he COU￿ of ijuraud
Ihe inforrnabon gven In Irusiee5' rwrt f(YlhefmarKaal Yearf￿WIMch the financial slalement5 are wwared. which
indudos tho diroctors. rewrt pwared fort￿ wtpsses dct]rn￿Y is Con￿￿tent ¥rith finanoal statemÈnts. ar
e drectors. rerort within thetws*es' rerN)rt has been yepared n acoydance *ith atpS¢able le9al
requiiernents.
¥atteY8 on whl¢h wo aw ragu￿ 10 rewi by exce￿[0￿
In lh8 IvJhl ol the knowbdg8 of ts cFwtsbb8 c¢JMpany aThJits env￿n￿6n1 ¢b￿n￿j In ihEI 0￿rse oflhe
audit. ¥￿ TK)t identsfied materK41 ￿5state￿￿ts in the directors. rew I￿Lthd the tmslee5' rep(Yt.
We have ndhing lo report ￿ restwt ofUE matws in rebtsmtowhth the CompaThe5 Ad 2(X)6. ttKJ Charit￿$
(Reports Accwn151 RewL4b(ns 2008 kne thari￿s Acc￿r.ts IS[x)tsr￿l ReguL4th)ns 20￿ requyes us tD report lo
you rf. in wropinion-.
a¢equale accountirvJ recorts ha¥e rrt>lbe8n kepL ¢y reiwnsawuale fty w a￿Jrt b¢en rKJ¢ei¥eJ from
branthes no1v￿rted by us.
the fhnanrAal ststements are ￿1 in ag￿rnent ¥thlhe rettjms". or
cetlan disckn5ures of trustees. ret[Mjnpra￿￿ SppC￿ed by k%v ate not tnth.. or
we have nat recer*ed a I theInf￿rnat￿ and exFI￿Al￿5 we requhElorowaudit." or
e trustees were Th)t entid&J 10 kyewe fr finanual str￿￿t$ in a¢cordar￿￿Mh tresxnall re9nE and
lake 8(Ivantsge of the small Prepari￿ the tr￿lee￿, rew and from the requirement lo
prepae a stRte9￿ reporL
R88pon4bllll8$ oltruste88
A5 ex Jained fulty hn.he State￿￿tOf INslees' reswwblities. Ihetntstees. wlM> are a50 the ditectors of Ihechantable
CDtnpany for Ihe wtwe of law, are teswxNtAelortt￿ ￿pa￿tion ofthe finan(ia stalemenls and for b￿r
s8IBfied Iha tt)ey giva a and f*r vtsw. and ftr SLth Intem81 contrt4 8$ th8 trU￿ses d8iwnNn8 1$ r*¢assaty ty ¥n8Ue th8
preparalK)n of financia statements Ihaiare free from m*rial Tr1ssts￿fft￿ni. wh8therdu8 to fraud or error. In prepanng the
fI￿r￿al Sta￿ents, bwstees ¥e res[￿5￿￿ fcl a5sewThJ IhÈrhariWAe c(Knwy s ability to ¢rrtkYue asa gciThJ
onc￿n. discbsrg. as applKaNe. ThattE*s r&aled to g(Mw C(XM*rn the wing concetn basis ofaccounliry Un￿$5
the Itusteeseither intend to liqu.date the tharitaAe (J)[n￿Y (￿t0 ￿se ope[￿￿5. or rK) realist￿ altemative but to tk)
$0
Audltor's rnsponslbll*lo5 forth6 audbtof thg finan¢W stalemw
We have been apwinted a$ 8uditty under tr* Act 2(m￿ar￿ Wh)I4411Xcl oytrt chari￿$ and Trustee
Investrnent IS¢oUandl Art2005 and rel￿ in a(Y(Kdarre*ith the P£ts aThJ relevant iewlalions rna<* or havingeffecl
ereunthr.
ro*ecb*8 are to obt*n rea$￿￿t4&￿%$Ul￿¢e ￿t￿the{ the fin*)¢K¥ statemwts 8sa whc4e are fr8e from malenal
misslatenEnt, ￿￿ther￿ue10fr8vo orerr(K. and to iswe ￿ athit¢fs report th• wr opir¥on Reas¢nabk aswren
a high level Orasswan￿ but rK>t a guThtee lha(￿ a￿lIt (￿d￿ted n actordanTr With ISAS IUKI wll ah¥ay5 d8tect 2
tnaleiial tni55tatetnent Ythen it exi515.
Mlsstsietnents ange Ircvn fraLYJ or arEt￿S¥JErEd If. iThJMthJ81ty or D the aogregate,
raascK￿￿Y be expeded to Infven￿ Ihe deaS￿l5 of users taken ￿ Ihe bass of these finaicia stalements

TNE ALB YN FQUNDATIQN
INDEPENDENT AUDITOR'S REPORT ICONTINUED}
TO THE MEMBERS AND TRUSTEES OF THE ALBYN FOUNDATION
Tha È￿ent ts whch t4Jr prrKodures a￿ (*patltsofdpt&tir¥J in￿￿ants$. li¢￿dI￿v) ftsud. is detaled baltrw.
We ot￿Ined an ￿￿erSI￿dirvj of the Wl reguL4lory frdr(M¥(xks Ihat are3p￿1Cab￿ ta Ihe chantsble cO￿anY. focusy
proV￿10￿S of those laws and rogulations that had offocl dÈlorThnation of material and discknsuios
Ihe financHI statements The mst re￿¥￿1 fra[new0￿ we InCk￿ed UK GAAP and the Charthes SORP,
Cotnpan￿s Act 2006. the char￿eS and Ttuslee IrNes1tr￿l IScLllarKII Acl 2005 and th8 Chanaes Accounts Iscotlandl
R￿Ulat￿n$20Qfj.
Wa 98ined an und8rstandifKJ of how the (hariiatA8 ctympany wlh thes? lavls and requ19bc*)s by makrKJ
enquir*$ ol managernert and triose ¢hW with ￿￿*man¢￿. We ccfft)bornted these erK4uirie8 through wr review of
submrtted relums and board TrEetro miwtes.
We asse55ed the susceptlmltyofthe L*Htita14Ethtnpatvls finatKial Statements lo TtHtetia m￿state[ne￿I, inLludrw how fra
might ¢¢￿r. by nEetirbJ Mlh ￿9n8￿ment and thtyse c￿￿¢￿ govern8rKt io ufKYersi¥ThJ ￿ere it w8$ ￿nsidered Ihere
was tsusceplibilily lo fi¥ud Thts 9valua￿TTr ￿$¢ corwdered htrw rranagetn9￿ and trmjse chaw8d wlh gtsvprn*nTr were
rsmunerated and whet￿r this prowded an ncenlwe fu fraudu￿ admty. We c[￿S￿Ered the ove￿1 e&ntrol environment
d hDW tr%nagetrenl those chw wth go¥eman￿ ovetsee kne 1rnP￿merrtation ￿ opp[at￿n of conlrds. In area5 of
the finanoal statetnents whwe the nsk5 were CL￿￿￿jer￿j io b8 hw*er. YR pthed ptocedures lo ￿dresS identi￿d
fol￿*￿￿￿ prOtsdU￿s 10 8tyJr8rt8 thaitt*fjn*Ki* *iements Wer&t￿ ofm8tsnal
frwd oi arrtr".
Revie￿n9 I￿nuteS of mee1.[￿S 0fth￿ charged *ith ￿￿emar￿ for refere[￿e to.. breaches of laws andwulation Dr
for any indKati(n of any ￿￿ential and daim5: e4Ents or cxr.ditions that coukl indrate an itKentive or
pies5ure ID cornmrtfraud or provKJe an opwmniy io frajd".
Reviewng ihe ￿VE1 ofarwj rea￿1￿9 behvNI the (th*itsb￿ procutptnFrt of leg¥J and profEsS￿81 $8tww6",
Pertorming audrt %vork wtxedures over the rtsk DI ma￿￿￿tOverrIc* (*cx)ntroL4. irtlthing testing oljouma entries
8nd ot￿r 1d1￿Ments1or apprtpnate￿. evaualry the ￿nesS rab￿a￿ of SKJnfftant tran*i(>r6outside the
no￿al counse of t￿sInesS and Trwewn9 lLvj5￿￿l5 Tnade tyy [rh￿a9￿ment In th￿r caIGulal￿n ofaccountirvJ
estimaies lor prttnttal mam9em&)t bos:
Agream&ni of finartfdl siatement dtst*jsures￿ &N)Jn￿t4tim.
Because Df the inherent lffnitabon5 of an Ihere ￿ a riththatwE ¥￿1 rnl deted all Nrajutsirit￿5. indudng those ￿ading10
a tDalerial m155taletn8Yt in the firbanoal slalernenls ￿ rMTrcwip V*ilh regulalx)n This increases ihe m(Ke that
comphane* wth a or i4 the events transacbons refieci&l wl the finanuel slstements. 83 we
wil btr less likdy lo become awaB of in$￿ceS ef r6k * a￿0 grpts regardin9 Ir￿￿alIt*S o¢cuffr
Llufr ￿ fraud ratrierW error. as tra￿1 involves fr￿Jery. colu9￿. mwer*esentation.
A fwtherdwpwon ofow reswwtslrfJe5 isavadable Fin￿1¥ ftery￿q CwrKil's webwle *'
httpS.'Ilww￿frc.(Xg.U￿laUdrtl￿5re￿b1itIe& Ihis destiirkn forff6 P￿t￿f0￿ auditors rerth.

TNE ALB YN FQUNDATIQN
INDEPENDENT AUDITOR'S REPORT ICONTINUED}
TO THE MEMBERS AND TRUSTEES OF THE ALBYN FOUNDATION
Use ofour rewl
Ths rep(Kt Is made 5d2tytothe Ch￿1*￿tle (xxnpaThls merrkn. a5a txxty. in ￿(X￿dan￿￿lh Chafv 3of Part 16 ofthe
CompaniesAci 2006. Our &Jditwork has been urthrtaken $0 mwjht slate iothe chèrrt8￿e ¢onwny s members
ihose m8ll¥s we are '8quired to stale ￿ Ihsm in •) 8￿J￿.$ WOrt*d ltrnoottrw wffjose To'h fullesi eXI￿t pem)itted
by iiw. we do wi accept or resp￿1)ity..￿arts￿t CAher than tre ¢WiiaYe c(Thpany lh8 c*arts￿e s
m&mb8r$ 8S 8 body. work. repJL orfy Ihe we Nivef(mied.
willia￿ Anderson BA CA ISpni(rStatuknyAudStorl
loi and on beha￿01 MHA
Statutory *JJdltor
AbqrdB8
Unilgd
g January 2026
MHA ￿ thelrading nane of MHAknit Se[Vi￿5 LLP. a 1￿mIty ￿￿erSt￿p ErvJLind Wa￿5 (registered number
OC4555421.

TNE ALB YN FQUNDATIQN
STATEMENT OF FIPiANCIAL ACTivmES
INCLUDING INCOME AND EXPENDITURE ACCOiTrIT
FOR THE YEAR ENDEO 31 JULY 2025
UrwostroctÈd Unrèsi¥l¢ted
funds
nds
2025
2024
Income
Donatsons and ￿gaC￿5
Investments
3.CK>D
5.13D
3.240
5.192
Totsl Income
8,130
8.432
Expgn(*ur• on:
charitab￿ ￿tsVities
Totsl experKUture
3.03D
Ngt In¢orno for thg y*drl>•forogalrffj and b)$
5.1(KJ
Nel 9ainslllossesl Investr￿eThIs
11
4.448
N6t In¢ome akwj mo¥eme•)t in lunds
243
Rocon¢iliaboh of funds..
Fund bal8rw al 1 ALuiisf 2￿24
144.928
144.685
Fund balanc8s at 31 Juty 2025
154.4TS
144.Y28
8talerne￿d finar￿al aciwilvas 4)c￿deS all gains8￿ bx%é¥ in th8 y*r. irK)Th experKJiture éeriv8

TNE ALB YN FQUNDATIQN
BALANCE SHEET
AS AT 31 JULY 2025
2024
Nrjlss
Fixpd asse1$
lrtve$tmenis
13
49.317
44,869
eurr•nt ass•ts
Cash al barlf and n h
105.159
l(Al,059
NEt eufrerrt&&Je
105,159
100.a59
Totsl assetslgss CUffFnt Ilabllibos
154.476
144.¥28
Thv lund$ of thv Ghèritable Company
Unr•stri¢tsd fuThJs
14
154.476
144.928
154.476
144.928
The financEI 5tsterrents WEre 8pwoved by tre Irustees M 9 Jarmwy 2026
G Bell
Trustefr

TNE ALB YN FQUNDATIQN
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2025
2024
¢a•h fk>w¥from opfjwatyng KI￿￿ti
Cash absDtbed by ￿erati[￿S
18
14.7561
Invp5tlng activltlos
Inv8simeni *tr))me received
5.130
5.192
Net cash generaiedfrDm invesiry 3ctivrfip5
5.130
5.192
Nèt Cash ¥•noratsdfYom ffinanchyj ath¥llloS
N&t increaae in cash Gash e9uiYalenis
5.1
Cash cash equivalents at Winriry ofyw
1(X).059
99.V23
¢a$h and ¢ash oqulv¥ents ot end otyw
105.159
100.059

TNE ALB YN FQUNDATIQN
WOTES TO THE FINA￿lAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
A¢¢ountkng poI*Ig$
Charity inforrnation
The Albyn FD￿&S110n ig a pfwato Ix)ttVany bY￿at8￿* ir￿t￿d in s￿and. Th&rBgts18f8doffic& is 2
Marthl Square, Bruad stset. Ab*￿￿en, AB10 1DQ. The ￿rK1paI pl*e ofiusY*ss ts 17.23 Queen'g Road,
Ab￿leen. AB154PB.
1.1 Ac¢ountwvJ comientian
The fin8nu81 statgnwsnts ha'ie bew prew8d in awfjarKe Ihe Charibe5 Tr￿te9 Invgslmgnt IScotLgndlAct
2005, the Charities Account? ISctyiwKII Reguklli¢￿ 2(￿ las arr￿￿e￿", FRS 102The Fnanual RepOrt￿g Slandat
appliCa￿e in Ihe UK and R￿Ub￿C of Ire￿1. I'FRS 10ri art tt￿ Charites SoRP.Ac￿Un￿nga￿d Reporting by
Charii*s". Skt6m•nt of RÉts)mmetQed Practicé apph(a4e to dwitie8 pre￿n9 If￿r ￿UniS in a(xord8nct tr*
Financial s￿nd￿¢ ap[4tst￿ In lh& UK ReputA¢ cl IFRS 1021- lelfe¢tiY? 1 J8nuary 20191. The
chariiable corrpany 15 3 F￿bI￿ Benefft Enhty as defined by FRS 102.
The Gharity has aVa￿d of S3% cfthe Fkxjse PLi 21￿. as purrytted in pardgraph 4111 of Schedde 1
of Sl 2008 M.409. ada￿ the Ctsnpan*s Att[¢￿￿ts to reflÈÉithE spetsal naLurÈ oflhe tharilys aCtM1￿$.
The finano81 stalements are Fw8red fft s￿1￿. is Ihe Flthal ￿￿erCY011he chAriWle ¢xmp¥ny. TrJtsnet¥ry
arnounts in these financial state￿￿tS are rou￿￿ to the ￿￿1£.
The finanthal stthmènts have been wep*ed en a goi)g <th*tn basis *M1 urKJèrthÈ INstorirA (x)st Convention.
modthed fty vaue as re411￿￿. aco)unbThJ *oledwe set ￿ b￿￿.
PJbyn Founlaiion E controle(I by ￿n￿le￿ aThJ fv rewtts we in the cons￿l￿ated finar￿￿1
stat￿￿entS*￿￿ are pthlKty avafiab￿. See 16 ￿delaI5.
1.2 Goiny concem
Al Ihp of arprowrvJ Slalwt￿ts. ihB Irust8es havo Wj8nbf￿ no tDaierial uncertainlps *d have a
asrJnab￿ expectation thai the company has Wuale resources to contnue in Operati￿31 existence f￿￿ at ￿ast he
next 12 ￿nIh5 tr(Yn the dae whth tt￿se ￿XaUnts have been approved. TM5. the trustee5 ￿ntil￿e to adopt kne
w1n9c0￿et￿ ba*s in weparrwJ the finatvi* Y2ietwrts.
1.3 Charftable fvnds
Furtds held by tr* ch8ntsye c(Mnpany we unrestricied be in acoydwce wth the charitab
obJ8CtNes attr￿ (1guebon of the Iruslees.
1.4 Income
All irtryne Is wicLKtÈd on the Statemprt of Fih*¢i¥ Ad1¥1￿ whtn thÈd*rity Is enbded to fv inc(x)* and the ￿tyjnI
an tE quan11f￿tt with reasonabl8 a(Lxra¢y. arwj 11 É Ptotth th81 ￿11 bB IF￿¥￿0.
Incorne rewesents d(ThtKJns from indtyKluals and group5. re￿Ied grft aKI. b3nk ￿tereSt. dI￿dendS fro￿ lisied
Invesknenis and Incoft* from marw furwts. Lknated ser4ices. such as $8L8ry ¢￿ts. athy acccwntsrty fees which
ara pèid by ￿bYTh School ￿mrt8d. If￿L￿ aikne tru*e&¥' best esbmab of kne Value or at acbJai value. The vak
of $etvice$ wwded by vdunietrs has Thot teen Ythjded in Ihese finar¢@l *lernents.
1.5 Expenditurè
EXpe￿Il￿re 15 inc￿e￿ on an accN*sbasts. ¥￿U5*ye0f￿ryVAT*thth ￿no(bere￿￿e￿.
charitab￿ acli¥ibes ir￿ude all costs rdabtwJ I0￿b￿1￿&th￿ere tt* prirnaryam i5 part ofthe (I4'e<*¥es ofthe
charitabla w￿any.
G0Veman￿ costs are the costs relaliw to the ￿￿ernan￿ arrawents ot tharitatrAe corrpany. Trese costs are

TNE ALB YN FQUNDATIQN
WOTES TO THE FINA￿lAL STATEMENTS ICOPlllNUED}
FOR THE YEAR ENDED 31 JULY 2025
Awbuntkng polklgs
Grants pay3Ne are induded by the tnlsl￿s. The of such granls unpaid al the year*nd is
accruod. Grants affered subi@ct lo conditions whith havo boen mÈt at tho year-e(￿ date llDted as a
m￿ltMent but rK)t ￿c[Ued as exp￿rture.
1.6 Flxed asset Inve$1mpnts
Fixed asset invesknents cotnprise a managed wifdK) and ale [ne8￿￿d ai fa￿ value. ba$8d on year-end market
Values PtDwded by Ihe fvnd ￿￿￿ger. Chatw In fairvaue are herga￿s￿lI0ssF5l gn In￿￿ents, in
SOFA.
1.7 Cash Cash oqul¥al•nis
Cash and cash &Wiv￿ents are baxfimn￿l assets i￿le ￿ in har￿ derA)5ts al cal with banks.
1.8 Flnanclal knstrum•nt5
The chant*le Crrfnp￿Y elected to4tty the se￿1￿ 11 'Basic Fi￿¢*1 I￿t￿m￿￿' ar* Sect￿￿ 12
'Other Financial Instruments Issue5, of FRS 102 10 311 of it5 franc4al ￿sIn￿nents
FinanEial InStruTh￿nts are rwi%ed ID the thatilth C￿an￿5 bakn￿ Sheet the dHntable u)Mpany
bec(￿e$ p8rty to Ihe prow$￿$ of theinstrurnenl.
Financial asselsand hakn1i1￿s3re oftset. *ilh the ￿et ar?K￿nts ￿eSent￿ ￿ the finan￿a s￿em￿rIts. when there 15 a
lÈgalfv enforteable nght to sei off Ihè re(tyntsÈd •nrXJntsar￿ ihere is * w)tenMn ￿ stldÈ tr)a bas￿ orto r8altse
Ihe asset and tsett￿ Ihe liablty smuh*e(Htsty.
Basic )In0n¢￿1 assets
Basrfinanckel assets. Ir￿￿Je debtrws ¢a5h bank babrtts. ￿ inth"8lly nE8sured at pri
Induding transadon costs.
Financkql asseis. than ItrM)se hehy at rair v4ue thro￿ inttMe aThJ expend¢ure, a￿ asse$5ed fw indicaiors of
impaThent al reP￿t￿g end da'.e. FThncial assets are iThpaired wlwe Ihere ts obiectsve ewdence that. as a result
of one or more events that (Kcurred thr the In￿al re(wthn of the InarM￿ asset. the eStl￿bated fvlure cash flows
h8ve oeen affecied.
Der8¢o£tnlUon of flnwKlalass•ts
F nancol assets are dww))gni$8d wh8n th? contrXtU￿ rKJhts to lh8 cash flows frthm ts 8S8et 8XPlfe or are
settled. ￿ when the chantsble company translets the finarrAal a55el and sub5tanlially all the risk5 and rewards of
ownetship to érN>ther entity, 01 if S￿nIf￿ntr￿ks atKJ ￿rdS (* ownetship ¥e retain￿ txjt thnlrd of the 8$58t
hastransferred io ￿rty1hat ￿a￿e io selthe assetiTh its emirety to ￿ unrdaled third paty.
fin8n¢thl lialjilities
B8$￿￿nancral Irabikues. *idthliThJ ueditC￿$￿d bèr& ￿an$ ar8 ifMbalyr8cogThse¢ ar tW$8c￿￿ pi¢e.
Der8¢0gnlllon of HnandalllabllltyAS
Financial li*)iithes artr the ch8titaL48 tthYw*w'$ ti*At8LtsI ¢*A￿tiOnS tiwtt or artrdtsth8rg￿ or
cancEl￿d.
1.9 Tax

TNE ALB YN FQUNDATIQN
WOTES TO THE FINA￿lAL STATEMENTS ICOPlllNUED}
FOR THE YEAR ENDED 31 JULY 2025
Cr6tl¢al a¢¢ounOng osUm*s and IWgnts
In the applicabon oflhe charitatAe c<xnpany s Ihe trLslees are required lo Makel￿g￿n￿ls,
ostynates arKI assumptions a￿￿1 cartw[¥ assots and that are re￿*1Y apparent from othor
Sour￿5. The esttnates and assooaled a5sunpb(xts are based on ￿￿or￿al eWer￿ arKI otherfactorsthat are
SKJered lo be rdevanl. Actual re5￿ts ￿haY i*fferfr(Kn these estlw￿leS.
The eslimales y￿erI￿ng assWnpt￿S revwed on an 989$. Revi5iWS to 8c¢ounbng gsbmates are
reG(¥Jnised in Ihe perK￿ In wlmch the e5bmaie thp revr5￿ affects only Ihal p￿0￿. or In Ihe Pen￿ of
the re¥i5K)n future per￿￿S where the revisKJn affeds cutrenl a￿1 fvrture
The trustees W￿dar thai Iwe are N) 8SbWkAl•S (K underlyYvJ as>JrntlNx)$ thch hav8 a sigThficant risk ￿ causing a
malenal aljustm&nl tr the ¢arrwng ￿OUnt ofassets and Ila￿libe5.
Unr¢slri¢tsd Unrfys¢ri¢ted
nds
gpneral
9enernl
2025
24
Donaiw)r6arwJ 9ils
Donated 8nd servKes
240
3.0(X)
3.0(M)
3.240
kncoffie from In¥eslmen
Un￿$trIC￿d Unroswicted
fuThJs
lunds
2025
Incon￿ from I￿ted in¥estments
Inierest reCe￿a￿be
4.131
1.258
5.130
5.192

TNE ALB YN FQUNDATIQN
WOTES TO THE FINA￿lAL STATEMENTS ICOPlllNUED}
FOR THE YEAR ENDED 31 JULY 2025
harlablo a¢tMY•s
Unr8strfctod Unr8strleted
funds
funds
2025
Opermng creditor5
Grants payable (see note 61
GovemarKe cosls Ise8 nole 71
30
3,030
Grants payable
Urnrosirf¢ts
lunds
Grants to InstllulK￿s".
Albyn sch￿ Lirnited
Support Gosts allocated to activlties
2025
2024
3.OLKI
Anatysed bets¥een.'
Chantabk acbvrfJes
3.0
Not mo¥om•M kn funds
2025
2024
The net nK¥ementin f￿￿J$ ￿ stsied after chargiry..
Fees payable foi theauthl dlhe tharity$ fmatKxal Stat￿nenL
g.OtM)
Tru$tso8
There ¥vas no rwwner**on or olhw to tms18es oi anyore uMectOtl wrth tw) for Ihe y08r ended 31
July ￿26 norforthe year 31 Juty 2024.
Trustse5' eApenBV6
There were no exPer￿eS paKI to Iwstees. any¢￿ coTrn&*ed wth tI￿n. nor pad (*redy on ther behaf f(Y th8 ye
Ended 31 July 2025 forlhe yetthd 31 Juty 2024.

TNE ALB YN FQUNDATIQN
WOTES TO THE FINA￿lAL STATEMENTS ICOPlllNUED}
FOR THE YEAR ENDED 31 JULY 2025
1D
The average rnonlNy wmber Ofe￿W¥eeS duriry Ihe year Ya$.
202$
H￿n￿r
Number
TL*al
11
Galn8 and losaes on Inveslmeffls
Unl￿tT￿ted Unrestrlded
luThJs
ndg
2025
Gan4llosseslarigtMJ w."
Revakjatson of irwestrnents
12 Tax
The tharity is trxeny fromtsxon ILS *bvthS b8tausa Tts chariiatle purposes.
13
Flxtd ats8èt Invesimtriis
LlstBd
InYoStrn&nts
Cost or Wa￿all
At 1 Augusl 2024
Vabolion changes
44.869
At 31 JLAY 2025
49.317
C8rThin9 am(rtwrt
At 31 J￿Y 2025
49,317
Al 31 Jdy2024
44.869

TNE ALB YN FQUNDATIQN
WOTES TO THE FINA￿lAL STATEMENTS ICOPlllNUED}
FOR THE YEAR ENDED 31 JULY 2025
14
Unr8strl¢tgd
The L¥westrict￿ funds ol the chanty c¢xnwise kn2unex￿f￿￿1 balances ofdonaiions grants which are not subtrect
to spocific condib(Jns by arKI yantors as tc they fftay bo irdude dosignated funds which hav
been set as￿& out af unreskncled fuThls by Ihe trustee5for P￿￿5.
At l Augws¢
kncorniry R¢sowce$
Gains andAt31 Jufy Zlk25
10s888
Gene￿
144.￿8
8.13a
13.0301
4.448
154.476
PrevkJUS year..
At l Auwst
ns and At31 Juty 2024
losses
Goned fuThJs
144.685
8.432
17.9961
11931
144.&8
15
Relatod pavty tran$aGtiotis
T1￿ transaclK)ns beN¥een the tharitab￿ (xxnpany and its parent hawe been dsd05ed in riote 16. No trustees key
managernenl pe15unnel receiTrMJ any rwnuneralK)n ￿ tEiTh*Kw5emenlofexperEes n Ihe cutrenl or t￿[ ypar.
There were rm) olher related paftytr3n5actK￿ in or
16
Ultlmata partni ¢omp*
ThB Albyn Foutwjaiths ullirTrglf wEnl ¢QrnWdny is Altyn Li￿rted. a ts)mpany IiTDitwJ by guaranlp8,
IncorpNaled in se￿and Icornpany rAxnber SC026743. Charity number SC(K)83921. prinupal actmties of the
ullirnale parent c(¥rnpany continued kn be tt￿¢ of the ￿>[￿uCt of a srthool on a nan-wofrt ba515. The chanlable
GOtnP8ny's rèsutts are indu￿￿ in consolwjalwj financial 5taieThenlS of Albyn &hotrl Li￿￿ted Copies of ih
nsolklated finan¢i81 stawnrs Can be ebtsi￿￿ Atyn ￿¢01 LtrThteé regLsterÈd Dtr, 2 M¥is¢hal Sqwe,
Broad sireel. Aterde￿. A810 1DQ.
During the year, ajdil and fees ar￿￿nti￿ toEI(m12024 £3 (KK>I were pa￿ byAbyn Schrx>l Limiled on
behaw of Ihe d￿rItab￿ company. Basi estimèLes of the involY8d h8ve inc1￿￿*d in Iht finan¢k81
stslwnents.
No grants12024. £4,Wl pahJ by thtr F(xJndaiNy)toAlbyn ￿mited dunrKJ the ye* aThY Th) don81ions
12024. £2401 %*we ra¢8i¥8dfr(ffi Schcd (hJrirwJ the yw.
hlernber5' liabilty
17
A8 ts charitablé ¢oftw8ny is limiied by guaiantte £* the membets. the thar1￿? company ha$ no isfAJ6d share
C8Prttl. Each m¥nb8r has u¥J8rtaken 10 ¢ontrtsJl* * 8rrKwnl Th)18X¢Otdiig £1 knvards any arisiro In Ihe &¥trnl
oflhe charitgble corryany W￿nd up.

TNE ALB YN FQUNDATIQN
WOTES TO THE FINA￿lAL STATEMENTS ICOPlllNUED}
FOR THE YEAR ENDED 31 JULY 2025
18 Cash *orbed by opwalJ¢)ns
2U25
2024
S￿￿U$ ytsr
9.548
243
Adlustmentsfor.
ITrvesknenl I[￿￿￿￿e FdcoJtWSBd In sts18￿￿￿t Df acbvth5
Fairvaluegans and h)SseS￿ investrf*n
15,1301
14.4481
193
Cash absowbed by operation
14.7561
19 Analy818 of ¢￿geS In net tunds
The c(thwy h*1 m material d8bldumg lh&

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