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CHARITABLETHE TRUST :
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Scottish Charity Number SC040677
TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS
30 JUNE 2025
THE BARRACK CHARITABLE TRUST TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
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|CONTENTS|PAGE|
|LEGAL AND ADMINISTRATIVE INFORMATION.|ceeececessecsseceseenssensesensvessicssananseessseseeeecsceeel|
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|INDEPENDENT|EXAMINER'S|REPORT|osc|ccseosssssesnunessseecenereceeesereesensesanennensntussesesneneneenseed|
|STATEMENT OF FINANCIAL ACTIVITIES.|ccececaccnnnsecenesescennssnnansssenssensnsenscensnansssesnsses®|
|BALANCE SHEET|cccacenceceeensnneeecenssensnenenannseesesininannsasssseseneeseneasensenenndl|
|NOTES ON THE FINANCIAL|STATEMENTS|cc|eeceneuneceeeceneeceecnnncnnnennnnnnsnaseeeeeeeeeSNM|
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THE BARRACK CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY TRUSTEES
The Charity Trustees are:
ORGANISATION
The charity is managed by the Board of Trustees.
PRINCIPAL ADDRESS
INDEPENDENT EXAMINER
The AAB Group Kingshill View Prime Four Business Park Kingswells Aberdeen AB15 8PU
BANKERS
Coutts 40 Strand London WC2R 0QS
SOLICITORS
J & H Mitchell 51 Atholl Road Pitlochry Perthshire PH16 5BU
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THE BARRACK CHARITABLE TRUST
TRUSTEES’ REPORT
The Trustees submit their report and the financial statements of the charity for the year ended 30 June 2025.
Legal and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Trust Deed and the Statement of Recommended Practice - Accounting and Reporting by Charities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Nature of Governing Document
The Barrack Charitable Trust is a recognised charity in Scotland (charity number SC040677) govemed by its Trust Deed.
Organisational Structure
A board of Trustees of up to seven members, who meet twice a year, administers the charity.
Recruitment and Appointment of Trustees
The powers for appointment and removal of Trustees are set out in the charity’s Trust Deed.
It is the charity’s policy to seek to appoint Trustees who havea specific interest in its objects or whose skills can complement those already in place. Newly appointed Trustees are introduced to the workings of the Trust through their first meetings.
Induction and Training of Charities Trustees
The Trustees are required to maintain a level of knowledge through course attendance and reading, such as to discharge their duties and responsibilities.
Risk Management
The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finance of the Trust and are satisfied that systems are in place to manage the exposure to major risks.
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THE BARRACK CHARITABLE TRUST TRUSTEES’ REPORT (continued)
OBJECTIVES AND ACTIVITIES
The objectives of the Trust are to further:
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i. The advancement of the arts, heritage and culture.
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ii. The provision of recreational facilities, or the organisation of recreational facilities with the object of improving the conditions of life for the persons for whom the facilities are primarily intended.
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iii. | The relief of those in need by reason of age, ill-health and disability.
ACHIEVEMENTS AND PERFORMANCE
During the year the Trust provided support to 49 organisations. The number of applications for support being received by the Trust continues to increase.
FINANCIAL REVIEW
Income received in the year amounted to £171,480 with an investment portfolio gain of £16,414. Grants made totalled £139,650 as shown in the Statement of Financial Activities.
The Trust has minimal running costs and as such substantially all income is available for application in line with the Trust’s objectives.
Reserves
The Trustees aim to maintain a level of free reserves to enable the charity to sustain its charitable activities. At 30 June 2025 unrestricted funds totalled £728,293.
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THE BARRACK CHARITABLE TRUST
TRUSTEES’ REPORT (continued)
PLANS FOR FUTURE PERIODS
The aim is to continue to apply the Trust’s funds in pursuance of its charitable objectives.
TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity Trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for the period. In preparing the financial statement, the Trustees are required to:
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e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the applicable Charities SORP;
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e make judgements and estimates that are reasonable and prudent;
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e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006 (as amended), and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Signed on behalf of the Board of Trustees
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Date
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
OF THE BARRACK CHARITABLE TRUST
| report on the financial statements of the charity for the year ended 30 June 2025 which are set out on pages 6 to 11.
This report is made solely to the charity's trustees, as a body, in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. My work has been undertaken so that | might state to the charity's trustees those matters | am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions | have formed.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (the Act) and the Charities Accounts (Scotland) Regulations 2006 (as amended) (the Accounts Regulations). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (d) of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
- e to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the Accounts Regulations; and
e to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Accounts Regulations have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of | Member of Institute of Chartered Accounts in Scotland The AAB Group Kingshill View Prime Four Business Park Kingswells Aberdeen
Dated: lo RA nny Wray
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THE BARRACK CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Total | Total | ||
| funds | funds | ||
| Note | £ | £ | |
| Income from | |||
| Donations and legacies | 2 | 155,000 | 172,500 |
| Othertrading activities Investments |
40 16,440 |
- 3,414 |
|
| Total | 171,480 | 175,914 | |
| Expenditure on Charitable activities |
3 | 143,175 | 101,849 |
| Total Netgainson investments |
28,305 16,414 |
74,065 46,864 |
|
| Net movement in funds | 44,719 | 120,929 | |
| Total funds broughtforward | 683,574 | 562,645 | |
| Totalfundscarriedforward | £728,293 | £683,574 |
in the current and prior year all income and expenditure was unrestricted.
The notes on pages 8 to 11 form part of these financial statements.
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THE BARRACK CHARITABLE TRUST BALANCE SHEET - 30 JUNE 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| FIXED ASSETS | |||
| Land | 4 | 51,000 | 51,000 |
| Investments | 5 | 570,078 | 544,416 |
| 621,078 | 595,416 | ||
| CURRENT ASSETS | |||
| Cash at bank and in hand | 107,215 | 88,158 | |
| TOTAL ASSETS | £ 728,293 | £ 683,574 | |
| CHARITY FUNDS | |||
| Unrestrictedfunds | £728,293 | £683,574 |
The notes on pages 8 to 11 from part of these financial statements.
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THE BARRACK CHARITABLE TRUST
NOTES ON THE FINANCIAL STATEMENTS - 30 JUNE 2025
1. | ACCOUNTING POLICIES
(a) Basis of financial statements preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value, other than in respect of the investment portfolio which is carried at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice; Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The Trust constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.
(b) Going Concern
The trustees, having made due and careful enquiry and preparing forecasts, are of the opinion that the trust has adequate working capital to execute its operations over the next 12 months. The trustees, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. As a result, the trustees have continued to adopt the going concern basis of accounting in preparing the annual financial statements.
(c) Income
All income is recognised once the trust has entitlement to the income, it is probably that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the trust has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the trust, can be reliably measured. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expected during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Donated services or facilities are recognised when the trust has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the item is probable and the economic benefit can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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NOTES ON THE FINANCIAL STATEMENTS - 30 JUNE 2025
THE BARRACK CHARITABLE TRUST
(d) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefits to a third party, it is probably that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the trust to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure or charitable activities is incurred on a directly undertaking the activities which further the trust’s objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
(e) Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
(f) | Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(g) | Fund accounting General funds are restricted funds which are available for use at the discretion of the directors in furtherance of the general objectives of the trust and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the trust for particular purposes. The costs of raising and administrating such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
(h) Taxation The Trust is recognised by HM Revenue and Customs as a charity and, as a consequence of the tax reliefs available in relation to current year, income is not liable to taxation.
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THE BARRACK CHARITABLE TRUST
NOTES ON THE FINANCIAL STATEMENTS - 30 JUNE 2025
(i) Fixed assets
Fixed assets comprise tand and is included at the market value at the date the asset was donated to the trust. Land is not depreciation.
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|---|---|---|---|---|
|2.|||INCOME FROM DONATIONS AND LEGACIES|2025|2024|
|£|£|
|Corporate|150,000|122,500|
|Personal|5,000|50,000|
|£|155,000|£|172,500|
|3.|||EXPENDITURE ON|CHARITABLE ACTIVITES|
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|---|---|---|---|---|---|
|Direct|costs|Support|costs|Total|
|.|£|£|
|Total|June 2025|139,650|3,525|143,175|
|Total|June|2024|98,418|3,431|101,849|
|Analysis|of|direct costs|2025|2024|
|Grants|awarded|£|139,650|£98,418|
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During the year, the trust made the following grants of £4,000 or more to institutions.
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|---|---|---|---|---|---|
|2025|
|£|
|Alpha|International|20,000|
|The|Princes’s|Trust|20,000|
|Archie|5,000|
|Blesma|5,000|
|Connecting|Carers|5,000|
|Dean|Orphanage|and|Cauvin|Trust|5,000|
|Dennis|Law|Legacy Trust|5,000|
|Forfar &|District|Men’s|Shed|4,500|
|Go Youth|Trust|4,000|
|Wester Hailes Youth|Agency|4,000|
|77,500|
|Other|-|39|62,150|
|£|139,650|
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THE BARRACK CHARITABLE TRUST
NOTES ON THE FINANCIAL STATEMENTS - 30 JUNE 2025
In the year ended 30 June 2024 41 grants totalling £98,418 were awarded.
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|---|---|---|---|---|
|Analysis|of|support|costs|
|2025|2034|
|Investment|managers’|fees|£3,525|£3,431|
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- LAND
Knight Property Group plc donated land at Peterculter, Aberdeen to the Barrack Charitable Trust on 16 June 2011 which had a value of £51,000 at the time of transfer. 5. FIXED ASSET INVESTMENTS
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|---|---|---|---|---|---|
|Listed|
|Investments|
|£|
|Valuation|
|As|at|1|July|2023|544,416|
|Revaluations|16,414|
|Investment|dividends|and|other|movements|9,248|
|At|30|June|2024|£570,078|
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6. | TRUSTEE REMUNERATION AND EXPENSES
During the year no trustee received any remuneration, expenses or other benefits (2024 - £Nil).
7. FINANCIAL INSTRUMENTS
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|---|---|---|---|---|---|
|2025|2024|
|Financial|Assets|
|Financial|assets|measured|at|
|amortised|cost|£|107,215|£|88,159|
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Financial assets measured at amortised cost comprise cash at bank and in hand.
8. CONTROLLING PARTY
Throughout the year the Trust was controlled by the Trustees.
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