RIGISTERED COMPANY NU.MBEIL. SC382030 (ScodaRdl REGISTERED CHARrrY NUhlBER.. S041667 REPORT OF THE TRUSTEES Af4D ur4AUDITED FINANCIAL STATEIIIEwfs FOR THE YEAR ENDED 31ST AUGusf 2024 FOR CRIMOND CHARITABLE TRUST Goldivells Ltd Goldwells Hoe GT4nge Road Petert)ead AberdeeDshire AB42 IWN
CRIMOND CIIARtTABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31SI' AUGUST 2024 The t[Ust whc &L50 dittc10 Df the charity for th¢ purposes of the Companies Act 20065 preselit their report with the financial statements of the Charity for tlie year ended 315t August 2024. The tsusiees have adopted the provisions of Accountin8 and Reponing by Chariii¢s.' Si&temenl of Recommended Practice applicabl¢ to charities pr¢parillg thew accounts in accordance with the Finan¢iai Reporting Standard applicable iii the UK and Republic of Ireland {FRS 1021 {etYectiwe l January 2019). 0ECtIVEs AND AcfivITIES Obje¢tive5 and #im5 The principal activity of th¢ charitable mpally during the p¢riod ivas to further the health and community development of, and proTride Tecrealional facilities to ihe parish of Ciimond ]d suund1ng panslie5 of Si, Fergus. LiiiimJ!'. LDngside, Sttiehet4 Old D¢er, NEW Deer and Rathen by the IDng terfft provi51Dn of medical. Enedical related. recreational and other accommodations. The tnistee5 meet as and ivhen required to ensilrc that the objeclives attd aims of the Chanthble GOPanY ore b¢ing rnci and will make any decisions in relation io the njnning of the clwitable company as required at these meetings. The chariiable company's principal aims are to.. 111 own and operate a purpose built facility to proi'ide accommodation io the medical practice based in Ciimond.. ad 121 PTOV5de and maintaill accominodation arKt facilitie5 for use by the LommutLlty and COTnmunity group5 in thc area. Objectives a£hiev£mént $tatUS The objectives for September 2023 to Aut 2024 were &4 folloivs.. l. Atiraci new tenants. 2. E51abliEh lea5¢ and paytnÈnt I¢TmS for n¢wtenants; arld 3. Ensur¢ curreni renants are happy within the hub. Achievetnent Status All ciirrent tEnants- caf¢ (new tenant), ph&M¢Y and medical centre contTrnue with theirtenancy within the hub. The Tet5 liaise with tbe Ct tenants on a regular basis at tenant tElg5 which are held withiu the hub, during which any question5, concems or sugge5ti0n5 raised are noied and addressed. Fll¥ATrICIAL REVIEW Results The building is fvlly operational with the company generating rental income on th¢ units which have been let. The company has produced a net expenditure of £6.242.188 {2023 - net inco¢ of £80,0;4). The expenditu in the year include5 a alUatiOn loss of £6250,822 {2023 - £107,7851,The Tnle¢S are 50t15fied iviih the CUTrertt fJti&ncial siarlls of the charstable ¢ompany and will continue with efforts to attract new tenattts and to maximize the utdisation of the available facilities. Re5erve5 The trustees intend to retain the resmes to reinvest in Ihe dev¢lopm¢nt and upkeep of the facility as well as to ty and Promote the facilities available 10 the wider community. InTrestment polity #nd objeetives Under the Memorandum & Articles of Association. the charity has the power to invest in any way the trustees wish. STRUCTLIiE GOVERNALYCE AND MANAGKTrIENT Governing document The chariii. is controlled by its 8oYerning diKUtnElIt, a deed of trust, 2nd Constitutes a limited company. limited by guaranieq as defined by the Cokrjpawes Act 2006. The organisatiDn is a cl)aritable company limited by guaraiilee, incoOrated and registercd as i cbatity in 2010. The company was est2blished under a Memoranduin of A550ciation which established the object5 }d powers of the chThrilable company User its Constitytion documenl. lo the event of the company being wouod up. members are required to contribu an anjount noi exceedin8 £1. Page I
INDEPENDENT LXAMtNER'S REPORT TO THE TRUSTEES OF CRIMOND CHARABLE TRUST I report on thc accounts lor the year ended 31 st August 2024 set out on pages five to sixieeii. Respeetil'e responsibilities of trustees and examther The chiry,5 truste¢5 are responsible for the prtparition of the accuunts in accordance with the tern of the Charities and Trnstee Investment IScoiland} Act 2005 and the Ch£riti¢s Accounts IScotl&ndl Regulations 2006 1&8 aTnendedl. The charity's Intee& consider ihat the audit iequiremenl of Regulatiuii IOIIXo} to Ic) of the Accounts Regulations does not apply. It is my responsibility io examine the accounts as required under Section 4411)Irl uf the Act arKI to State whether particular matt¢r5 have come to my att¢ntiotL BASIS of the IndepeDdent esamlner'5 report My examinaiiun was caled oul in accordan¢e ivith Regulation I l of the CharitlEs ALeounts IScoilaThdl ReglllatlOl35 2006. An examination includes a rtview of the accountiiig records kept by the charity and a comparison of tjic accounts pr¢sented with those reiords. It abo includ¢5 consideration of any unusuth] items or discloSUTe5 Ill the a¢¥ovnts. and seeking explanjtions from you as tru51ees tDntemin8 any such matters. The procedures uThdertiketL do noi Provide all Ihe evidenLe that would be requir in an audii, and consequently I do not express all *Ludit opinion the vieiv given by the accounts. Independent examlner'$ ststeTnent In connection with my examinalion, no matter has come w my attention: which giv¢5 me reasonabl¢ rae to belteve that. in any tnatErial resptct, the requirements to keep accoLintsng record% in aecon1ance with Seclion 4411)l&l of the 2005 Ad HE)d R¢gulation 4 of the 2¢)D6 Aeeounts Regulation5: and to prcparc actounts which acLord with the accounting records and io comply with Regulation 8 of the 2006 Accounts Regulaiion5 have not bEEn ma: or 12} to which. in my opinion. attention Should b¢ drnwn in order to enable a proper understanding of the a¢¢ounts 10 b¢ reached. Gary Addison The Association of Chartered Certified Accountants Cioldwe115 Lid Goldwells Hollse Grangc Road Peterhead Aberdeenshire AB42 IWN 3rd April 2025 Page 4
CRIMOND CHARITABLE TRUST STATEMENT OF FINANCL4L ACTIVITIES FOR THE YEAR Ef4DED 31ST AUGUST 2024 2024 Total Thd5 1023 Totsl fvnds Unrestricted fimd Restricted fund Notes INCOME AND EPIDONVMEYTS FROM DonatioD5 and l¢ga¢i¢s 1,630 1,630 Other trading activitie5 180,647 180.647 189,503 TotAI 18?277 182277 189.503 EXPEI¥DITURE ON 173,643 173,643 161.792 Net gaiThsl(10ssesl on illvestm¢nt5 {6,250,8221 1107.785 } NET INCOMEIIEXPENDrruREI 16.242,188) 16.242,1881 180,0741 RECONCILIATION OF FUNDS Total brought forward 7.058.954 1,942 7.060,896 7,140,970 TOTAL FUNDS CARRIED FORWARD 816,766 1,94 818,708 7.060,896 The nott8 form part of these fjnanual sta(ements Poge 5
CRtMOND CHARITABLE TRUST ATEt*l£LYT OF FIfiANCIAL POSITION-coDdnued 31ST ALIC.IIST 2024 These finan¢i31 ststeinents have been pr¢par¢d in accordance ivith lh¢ provision5 applicable to charitable con]patLies subject io ihe Small companies r¢gime. The fancial $laiements were approved by the Board of Trnsiees and autherised for issue on 3rd April 2025 8nd ivere signed on its behalf by-. Corf e (Jun 16, 2025 09'.20 GMT+Jl C S Ritclll"e-TNstee Th¢ notes hmi part of these financial 5taterEJents Pag¢ 7
CRIMOND CHARITABLE TRUST IYOTES TO THE STATEME,NT OF CASH FLOWS FOR THE YEAR ENDED 31ST AUGL&iT 2024 RECONCtLIATfON OF NET EXPENDITURE TO r4rr C'ASH FLOW FROM OPERATll¥G ACTivfTIES 2024 2023 f4et expenditure for the reportimg perlod (as per the Statement of Finaneial A¢tiiities} Adju$tmertts for: Dcpreciation charges Losses on inve5trnents Decreasel(increasel in debtor5 lllerease in Creditor5 16242,1881 (80,074) 3,863 6,250,822 10,980 1,607 3,862 107,", 85 126,059) 10.217 Net cash provided by oper8tloll5 25,084 15.731 AIYALYSIS OF CHANGES IN NET FUNDS Ai 1.9.23 Cash flow At 31.8.24 Net C95h Casb at bank 70,855 25,084 95,939 70.855 25,084 95.939 Total 70,855 25.084 9S.939 The note5 fomipart of these financial statements Page 9
CRIMOND CklABJTABLE TRUST NOTES TO THE FINANCLIL STATEhlENTS- rontlnued FOR THE YEARENDED31ST AUGLST2024 DONATIONS AND LEGACJES 2024 Donatiolls 1,630 OTHER TRADING ACTIvrrIES !U:4 Rent Received Service Charges Supply Charge5 Room & Equipment Hire 86.264 26,202 67.406 775 94,487 26,249 68.183 584 I xo.t47 189,503 SL?PORT COSTS Governanc¢ costs Management Finance Totsls Otlw resources expended 169,072 102 4,409 173,643 NET ENCOMEI(EXPENDITURE} Nel income/(expendiwr¢) is stated after chargingl{credi¢ingl'. 2024 2023 Auditors, r¢muneration Depi'eciation- owned assets 4.950 3.86: 3,863 TRUSTEES, REluNERATIoN AND BEYEFrrs There were no IttE$, remunerdtioD or other benefits for the year ended 315[ August 2024 nor for the year ended 31st August 2023. Trustees, expenjes ThEre weR no tru5tees' expell5es paid for the yw ended ?Ist AUgt 2024 nor for theyear ended 31st Au&Jst 2023. STAFF COSTS 2024 2023 Wages and salaries 14,809 13.807 14,809 13,807 The av¢rag¢ monihly nLtmber of wnployees during th¢ Y as follow5.. 2024 OperatLOnS ND employees received emDlunHirs in excess of £&).OIH). Pagell eontinued...
CIUMOND CHARITABLE TRUST NOTES TO THE FtNANCJAL STATEI¥IENfs- ¢oDtillued FOR THE YEAR ENDED 31ST AUGLST 2024 io. INVESThlENT PROPERTY FAIR VALLE At Isi Scptcmber2023 Revaluation 6.920.827 16,250.t12? At 315t August 2024 670,000 NET BOOK VALUE At3 l$t Aiigusi 2024 670.000 At 3 1st Au8USt 2023 6.920.82• T1 Medical C¢ntre and Community Hub w&s valued on 28 May 2024 by Groham & Sibbald at a Fairvalue of £670.0(X>. Included in inv¢sttnEIIt property is freehDld land valued at £IOO.IM)0 (2023- £100,IIIXII. A Fair Value of the land (which does not In¢lude 5.? acres of land locaied North Il'est of the Hub. doThaied by Score groiip ple dkjriiig the year to 31 August 20191 and property was i'alued on a Depreciated Replacemeni Casi {DRCI iOdel valuation. Fair value 3151 August 2024 is r¢pre5ellted by.. Valuation in 2018 Valuation in 2a23 Valuation in 2024 Cost 18.133 1107.7851 16.250,8221 7,010,274 670.000 ii. DEBTORS: AMOUYI TS FALLING DUE WITHIP4 OIYE I'R 2024 2023 Trade debioT5 Other d¢btOTS VAT 15,451 485 735 20,365 9233 21.307 Prqaents aTLd incotn¢ 17.476 37,036 48,016 Page 13 conrinued...
CRIMOND CHARITABLE TRUST NOTES TO THE FtFIANCIAL STATEI¥IEWTS- Continued FOR THE AR ENDED 31ST AUGUST 2024 13. IIOVETrIENf ll¥ FLIDS- continued Comparntil'e Thet mov2ment in included in Ihe aboi'e are as follows.. Incoining resources Resources exp¢nded Gains and 105ses MovcmEnt in funds Uthrestricted fuDd8 General fund 189,503 (161,7921 1107,7851 180.074) TOTAL FUNDS 189.503 {161,7921 1107,7851 (80.0741 A current year 12 mottths and prior Ye 12 months cornbined position i8 45 follows.. Net Tnovemeiit ID funds Ai 31.8.24 At l L).72 Unrestrlcted funds General fimd 7.119,028 (6,322,262) %lh,:.66 Restricted funds Uktaine Relief Fund 1.94 1,942 TOTAL FUP4DS 7.1411,970 16.322.*621 818,708 A cuent year 12 months and prior yeJr 12 months combined net movem¢nt in fimd& included ill the above are &5 follows.. Incoming resources Resources ¢XP¢Dded Gains and losses Movemettt in funds Unre5trlcted fllnds General fund 371,780 1335,435) 16.358.607) 16.3212621 TOTAL FUI¥DS 371,780 (335,435) 16.358.607) {6.322,262) RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31st August 2024. Page 15 continued._
CRIMOND CHARtTABLE TRUST DETAILED STATEhlENT OF FILIANCIAL ACTIVITALS FOR THE YEAR EYDED 31ST AUGLST 2024 2024 2023 INCOME AND ENDOIfyTrIENTS Douatiou5 alld le¥acies Donat10115 1.630 Other trading a¢tivitie5 Rent Received seICe Charges Supply Charges Room & Equipment Hi 86.264 94,487 26.249 68,183 67,406 775 180.fv17 IR9,5O3 Total kncoming r&8our¢es 189,%03 EXPENDITIJRE Support Costs Mnagement Wdges Rates and war In%ur3nce Light gnd heat Comput¢r Exp¢n5C5 MoiorExpellses Sundnes Repairs Fttehold property 14,809 8.821 17,546 92.924 329 130 0.397 24,253 3,863 13.807 14.899 8.449 92,085 415 204 8.113 13,317 3,863 169,072 155.152 Bank charge5 16? 160 GoernaCE costs Auditors, remunerntion Accountancy [¢¢5 Legal fees 4.950 1.530 1,709 2,7110 4.409 6.480 Total resources expended 173.643 161,792 Net income before gains aDd Ir055es 8,634 17.711 Relitsed re¢oglltsed gains losses Reali5ed 8ainOllosses} pruBrdmtne related investments {6250.8221 (io,, Net expenditure 16242.188 1 {80,0741 This page (ioes nDt fotfflP9fi of the statOry flnancial statemeois Page 17