Charity number: SC042417
NORTHCOTE LODGE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

NORTHCOTE LODGE TRUST
CONTENTS
Page
Reference and administrative details of the Charity• its Trustees and advisers
Trustees. report
Trustees. responsibllltles statement
Independent auditors. report on the financial statements
Statement of financlal activities
8-10
Balance sheet
12
statement of cash flows
13
Notes to the financial statements
14-27

NORTHCOTE LODGE TRUST
REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY.
ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trugtaos
Charlty reglstered
number
SCCM2417
Prlnclpal offlce
191 Cralgton Road
Aberdeen
AB15 7UB
Ind•pendent auditors
AAB Audit & Accountancy Lirnited
Kingshill Vi8W
Prime Four Business Park
Kingswells
Aberdeen
A816 8PU
Bankers
Roydl Bank of Scotland
40 Albyn Pla
Aberdeen
AB10 1YN
Sollcltorn
R&R Urquhart LLP
117- 121 Hbgh Street
Forres
IV36 1 AB
Page 1

NORTHCOTE LODGE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025.
The Trustees confirm that the Annual report and financial statements of the charity comply with the current
statutory requirements. the requirements of the charitys goveming document and the provisions of the
Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
CONSTITUTION
The Trust's goveming document is its Trust Deed.
OBJECTIVES AND PRINCIPAL ACTIVITIES
The Trustees shall hold the Trust Fund in the following manner and for the following purpos8S:
The provision wrthin the Roman Catholic Diocese of Aberdeen of care, nursing. and general physical, mentsl and
spiritual welfare of any persons requiring such care. nursing and welfare including the foregoing generality. the
infirm, aged and poor and other charitsble matters.
The Trustees value the inestimable worth and dignity of each human being as made in the image and likeness of
God. Commitment to these ideal leads the Trustees to provide for all that need care. a service that is marked by
spirit of love and compassion. Quality of life is paramount. Dignity. privacy and confidentiality are part of the
ethos. The residents right to choose is supported as are the involvement of family and friends in the resid8nt's
care. The whole person. including all aspects of physical, mentsl, emotional. spiritual and social welfare are
addressed.
The Trustees aim to provide high quality residential care in a safe and welcoming envlronment for slxty
residents. The training of a high percentage of staff to a better grade than is the norm is one of our main
strat8gi8S to obtain these objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The number of Trustees shall not be less than three. The Trustees are entitled by way of a resolutlon passed by
a majority vote at a meeting of Trustees to appoint any individual as a Trustee.
If the Trust has four members a quorum would need to be three.
If the Trust has five members a quorum would need to be three.
If the Trust ha5 six members a quorum would need to be three.
The skill mix of the Trustees is used to assess the appropriateness of any new Trustee. The present Trust
includes a medical practitioner, a hoteller. a retired quantity suprfeyor, a retired deputy headmistress, a practicing
lawyer and a retired general nurse.
Strategic meetings are held quarterfy. The Trustees meet more frequently if circumstances so demand.
Subcommittees of Trustees with particular skills and experience meet as required. A monthly meeting of the
Care Home Manager, the Finan￿ Officer and one Trustee occurs to discuss the monthly accounts and any
extraordinary expenditure. There are also announced and unannounced inspections by individual Trustees.
The day-to-day management of the home is delegated to the Care Home Manager. an Assistsnt Care Home
Manager, her two full time deputies. one full time assistant deputy and a Quality A55urance Manager. The Care
Manager prepares a monthly management report and the Finance Officer a monthly financial report for the
Truste8s. Major decisions such as the purchase of expensive items of equipment. changes in policy and future
Strategy are taken by the Trustees. A simple majority is required for thes8 decisions.
Page 2

NORTHCOTE LODGE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
RISK MANAGEMENT
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure
appropriate controls are in place to provide assurance against fraud and error.
REVIEW OF MAJOR RISKS
Fundlng
The admission of new residents can be suspended at any time by the local authority. With over one hundred
members of staff, wages alone are the biggest expense for the home and because of necessary increases in
this area that are outlined in the financial review the decision to increase the number of self-funding residents to
more than 40 is vindicated. Furthermore. the Trust needs to provide for future planned maintenance and
therefore an annual operating surplus is needed. The funding by the Local Authority has been poor and in the
last five years well below the increase in the cost of living. To this extent the self-funding residents, to some
extent, subsidise those funded by the Local Authority.
Despite this. the Care Home Manager regulates the waiting list by admitting residents by their degree of need not
their funding status. The home has more than thirty vulnerable elderly on the waiting list. This is a testament to
the quality of care provided by the home and the desperate need in Aberdeen.
Covld Pandemic Impllcations
NHS Inform advice on Covid19 has changed after a review by Public Health Scotland and Scottish Govemment
Clinicians. The guidan￿ to isolat8 for 5 days after a positive test has been removed. The asymptomatic Covid
19 testing before discharge from Scottish hospitals to Care Homes and Hospices has been removed. Staff
returning to work after suffering a respiratory infection should do so in discussion with their line manager. This
will allow appropriate risk assessments to take place. The Care Home Manager is taking a very cautious
approach to staff retuming to work after a respiratory infection.
Staff
Recruiting and retaining good staff is a problem encountered by all care homes for the elderly. The level of
funding is such that salaries are not high. By offering training opportunities and keeping a happy contented home
we hope to maintain our ability to attract good loyal staff. We are fortunate to have five trained nurses in
management positions: the manager. assistant manager, two deputies and a quality assurance manager. A
qualified nurse is on duty seven days a week. The Care Home Manager is a qualified nurse and a qualified social
worker. The horne is very fortunate to have her.
Supporting staff through the SVQ process is ongoing.
Changes to Home Office Regulations for Sponsorship of overseas workers means were able to apply for a
Sponsorship LI￿nce. We have five Undefined Certificates in place and three Defined Certificates of
Sponsorship. In the main those sponsored have been a great asset to the home.
The accountants. AAB Business & Tax Advisory LLP. have continued to be an asset to the Trust and have
provided support to the Finance Manager. The new Office Manager is working well and has taken on the role of
Dats Protection Officer. A payroll assistsnt to our finance manager has been appointed and is a great help to her
and the department.
The set up of a data base was delayed by the Covid Pandemic. We chose Person Centred Software and
appointed a manager to implement the change. The change went live in May 2024. The staff spent time training
and have adopted the use of hand- held devices to record interactions with the residents with surprising ease.
Both managerial and caring stsff have welcomed the change.
Page 3

NORTHCOTE LODGE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Activilies Coordinators continue to provide an excellent program for the residents every day of the week.
Residents who do not wish to take part in group activities are now having one to one attention. A catering
committee has been inaugurated and involves residents. families and staff. The new house keeping manager
who has a breadth of experience is a real asset to the home. The kitchen is producing delicious meals that are a
credit to th8 chef and his assistant. The three maintenance men are Working well together.
The wheel-chair accessible car is a great asset. It was quite old and has been r8placed with a naw one. A new
third pool car is available for staff to help with appointments or home visits and has freed up the wheelchair
accessible car for residents with adVan￿d needs. The introduction of a ULEZ in Aberdeen has meant our mini-
bus is non- compliant. However it is still in very good condition and is ra￿lY used in the ULEZ area. It was
dacided to commission a second wheelchair accessib18 car so that residents who had medical appointments at
the same time could be accommodated.
The sensory garden is now complete and a tribut8 to the two volunteers who help8d with its construction. It is
used daily by the resldents.
Health and Safety
Policies and procedures are in place accompanied by appropriate training to minimise any risk to residents or
staff and are regularly updated to take notice of new regulations or advice.
Worknest, formally Law at Work, gives advice on Health and Safety procedures. The Fire and Rescue Servi
advise on fire safety.
There are regular training sessions on Flre Safety. COSHH, Health & Safety, First Aid. Infection Control and
Food Hygiene.
Abuse
All members of staff and volunteers are members of the PVG scheme. All the staff undergo training so that they
can support and protect residents from abuse.
Achlevemont and Performance
The home is spacious and well lit. All sixty bedrooms have an en suite bathroom and view5 over the extensive
gardens. There are four separate dining rooms and six dayrooms throughout the home. There is a hairdressing
salon. café and activities room. We have a bar room on the first floor that is very popular. It is usually full of
residents on Friday aftemoons. We are encouraging the resident's families to use the cafe again and add to the
buzz and happy atmosphere of the home.
The landscaped gardens are well established and blooming.
The sensory garden is complete wtth wheelchair friendly paths, a pergola and seating areas. The planting is
complete, with fruit trees. shrubs, roses and raised beds for the k8en gardeners among the residents to use.
The reputation of the home remains high and at the ts'me of writing this report there are more than thirty people
on the waiting list for admission.
The home now has a website www.narthcotelodgecarehome.co.uk.
Page 4

NORTHCOTE LODGE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Pension contributions remain at 80/0 and the Trust continues to pay 5Yo and the stsff 3Yo. The number of carers
has been increased to cope with frail residents needing two carers to provide for their needs.
The staff were awarded a 9.8'A wage increase in April 2024. This was to improve retention and help with
recruitment.
This along with, the pension contrtbutions and the appointment of extra caring staff, kitchen staff, house-keeping
stsff, maintenance, dining room and office staff has meant a very big increase in the wage bill. The improvement
in the quality of care as a consequence of the increased staffing is a reward in itself.
The viability of the home depends on a high level of occupancy and we have a very long waiting list which bodes
well for the future.
A fixed deal contract is in place and will for some time shield us from the massive increases in fuel bills. There
has been an increase in costs relating to cleaning equipment. residents care supplies and PPE. This is due to
the Covid pandemic. We have been advised byAHSCP to have at least one month's supply of PPE instore.
It was decided to hire all the laundry equipment from CAS Duncan. The hire agreement includes the use of
brand- new equipment and all breakdown and servicing costs. There has therefore a large increase in equipment
hire costs.
Insurance for Care Homes has gone through the roof. Evon getting a quote is almost impossible. We are
fortunate that our insurers continue to Insure us but at an increased premium.
Baxter Dunn and Gray produced a very comprehensive planned maintenance budget for the next thity years.
There is an ambition to generate a surplus to pay for planned maintenance and the split in the proportion of self-
funding residents has meant that the home is also making an effort to cover depreciation costs.
SSSC insists that all carers have an SVQ qualification of 24. This is mandatory even for staff with nursing
qualifications. This has implications for the training budget and eventually wages. The training costs alone
amount to £12,000. It has been spread over two years. Most of our carers have obtained at least SVQ 2
Qualification.
The trust continues to invest surplus monies with Rathbones (formally Speirs and Jefftey).
RESERVES POLICY
As stated, the main expense for the home is the staff wage5. For the coming year, a wage budget of over
£3.090,000 has been allocated. The Trust's reserve policy is to have the equivalent of at least four months
wages in free reserves. This would require reserves of at least £1,030,000 based on the 2024125 budget. On th8
31 st of March 2025. the free reserves were over £2,000,000. Therefore. the Trust is meeting its reserves policy.
Further resenies are a150 required to cover depreciation costs and the planned maintenance.
Page 5

NORTHCOTE LODGE TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
FUTURE DEVELOPMENTS
Work on the gardens continues. It is hoped we may be able to convert the srnokn'ng pavilion into a s8cond
summerhouse.
During and after the Covid outbreak it was irnportant to keep staff working in only on? area of the home. AS
result, the sensory room was requisitioned to act as a staff room. It is now the office for the assistant care home
manager. Tho sensory room is now located in the cherry sitting room. The bathroom on the first floor, Ihat was
never used has been converted into a staff room.
An extra nurse base has been established on the upper floor.
Person Centred Software went live in May 2024 and is working well.
As energy costs splral It was agreed to look Into th8 posslblllty of solar panels.
A power cut resulted in problems with door openings and dosures. It was agreed to explore the purchase of a
generator to maintain essential operations within the home during a power cut.
The outer main door causes problem5 for wheelchair users. It is in the process of being attered to make it rnore
wheelchair friendly
Approved by Drder of the members of thè board of Trust88s and signed on their behalf by.
Date..
Page 6

NORTHCOTE LODGE TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees are responsible for preparing the Trustees, report and the flnancial statements in accordance with
applicable law and United lQngdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practica).
Th8 law applicable to charities in Scoland requires the Trustees to prepare financial statements for each
financial which give a true and fair vtew of the state of affairs af thft Charity and of its incoming resources and
application of resourc8s, including its income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to:
select suitable accounting policles and then apply them consistently,
observe tha methods and prinuples of the Charities SORP (FRS 102):
mak8 judgements and accounting estimates that are reasonable and prudent.
state whether applicable UK Accounting Standards IFRS 102) have been followed, subjoct to any material
departures disclosed and explained in the financial statements:
prepare th8 financial statements on the going concem basis unless it is inappropriat8 to presume that the
Chanty will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficienl to show and explain
the Charlty's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the flnanclal statements comply with the Charitles and Trustee Investment
(Scotland) Act 2005, the Charities 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 hence for taklng
reasonabla st8ps for the preventlon and detection of fraud and other Irregularitles.
Approved by order of the members of th8 board of Trustees and signed on Its behalf by:
Data.,
Page 7

NORTHCOTE LODGE TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NORTHCOTE LODGE TRUST
Opinion
We have audited the financial statements of Northcote Lodge Trust (the 'charity) for the year ended 31 March
2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the
related notes, including a summary of significant accounting policies. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards. including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, (United Kingdom GenerallyAccepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitls affairs as at 31 March 2025 and of its incoming
resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice" and
have been prepared in accordance with the requirements of the Charities and Trustee Investment
(Scotlandl Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
Basis for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS {UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Stsndard. and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitys ability to continue as a going
concern for a period of at least twelve months from when the financial statements are authorised for Issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concem are described in the
relevant sections of this report.
Other informatlon
The other information cornprises the information included in the annual report other than the financial statements
and our auditors, report thereon. The Trustees are responsible for the other information contained within the
annual report. Our opinion on the financial statements does not cover the other information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion the￿on. Our
responsibility is to read the other information and. in doing so. consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or
otherwise appears to be materially misststed. If we identify such material inconsistencies or apparent material
misstatements. we are required to determine whether this gives rise to a material misstatement in the financial
Statements themselves. If, based on the work w8 have performed. w8 conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 8

NORTHCOTE LODGE TRUST
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NORTHCOTE LODGE TRUST
(CONTINUED)
Matters on whlch we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Accounts (Scotland)
Regulations 2006 (as amended) requires us to report to you if, in our opinion-
the infomiation given in the Trustees. report is inconsistent in any material respect with the financial
5tatements', or
proper accounting records have not been kept: or
the financial statements are not in agreement wilh the accounting records and retums; or
we have not re￿iVed all the information and explanations we require for our audit.
Responslbilltles of trust885
As explained more fully in the trustees, responsibilities statement, the Trustees are ￿sponSible for the
preparation of th8 financial statements which give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial statements. the Trustees are responsible for assessing the charftys ability to contlnue
as a going concern. disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no
realistic alternative but to do so.
Audltors. responslbllltles for the audlt of the flnancial statements
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland)
Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about wheth8r the financial statements as a whole are free
from material misstatement, whether due to fraud or e￿Or, and to issue an auditors, report that includes our
opinion. Reasonable assuRnce is a high level of assurance, but is not a guarantee that an audit Conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be
expected to inftuence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in lin8 Wlth our responsibilities. outlined above. to detect material misststements In respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the charitable trust operates.
focusing on those laws and regulations that have a direct effect on the detemiination of material amounts and
disc105ures in the financial statements. The laws and regulations w8 considered in this Context were the Trustee
Investment (Scotland) Act 2005. together with the Charities SORP {FRS102) 2019. We assessed the required
compliance with these laws and regulations as part of our audit procedures on the related financial statement
items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements but compliance with which might be fundamental to the charitable trust's ability to operate or
to avoid a material penalty. We also considered the opportunities and incentives that may exist within the
charitable trust for fraud. The laws and regulations we considered in this context for the UK operations were Anti-
fraud, bribery and corruption legislation, Health and safety legislation and Charity regulations.
Auditing standards limit the required audit procedure5 to identify non-compliance with these laws and regulations
to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any.
Page 9

NORTHCOTE LODGE TRUST
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NORTHCOTE LODGE TRUST
(CONTINUED)
We identified the greatest risk of material impad on the financial statements from irregularities including fraud to
be..
Management override of controls to manipulate the companls key p8rformance indicators to meet targets.
Timing and completeness of revenue recognition. and
Compliance with relevant laws and regulations which directly impact the financial statements.
Our audit procedures to respond to these risks included..
Testing of joumal entries and other adjustments for appropriateness.
Reviewing judgements made by management in their calculation of accounting estimates for potential
management bias;
Enquiries of management about litigation and claims and inspection of relevant correspondence-, and
Reviewing regulatory correspondence with the Office of the Scottish Charity Regulator and reading minutes
of meetings of those charged with govemance.
Because of the Inherent limitations of an audit. there Is a risk that we will not detect all i￿egUlar1tie$. including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves
intentional concealment. forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or
.ukJauditors￿s
auditor5, report.
onsibilities. This description forms part of our
Use of our report
This report is made solely to the charitys trustees. as a body. In accordance wlth regulation 10 of the Charities
Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the
charitys trustees those matters we ar8 required to state to them in an auditors, report and for no other purpose.
To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity
and its trustees. a5 a body, for our audit work. for this report, or for the opinions we have formed.
AAB Audit & Accountancy Limited
Statutory Auditor
Kingshill View
Prime Four Business Park
Kingswells
Aberdeen
AB15 8PU
Date..
A%&dSt 24>1S
AAB Audit & Accountancy Limited are eligible to act as auditors in terms of section 1212 of the Companies Act
2006.
Page 10

NORTHCOTE LODGE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Donations and legacies
Charitable activilies
Other trading activities
Inv8slments
7.060
3,861,689
7.060
3.861,689
44
56.726
10,463
3,710,143
10,296
52,753
56.726
Total income
3.925,519
3,925,519
3,783.655
Expendlture on:
Raising funds
Charitable activities
377
4,051.254
377
4.051.254
735
3,616,553
Total expendlture
4,051,631
4.051,631
3.617,288
Other movements on investments
(41,404)
(41,404)
150,236
Net movement in funds
(167.516}
(167.516)
316,603
Reconciliation of funds:
Total funds brought forward
Net movement in funds
9,027.005
(167,516)
9,027,005
(167.516)
8,710,402
316,603
Total funds carrled forward
8.859,489
8,859,489
9,027.005
The Ststement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 27 fomi part of these financial statements.
Page11

NORTHCOTE LODGE TRUST
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Flxed assets
Tangible assets
Investments
13
14
5.996,034
2,502,541
6,092,121
2.393.813
8.498.575
8,485,934
Current assets
Stocks
Debtors
Cash at bank and in hand
15
6,495
176,969
330.139
6.837
153.305
564,415
16
513.603
724,557
Creditors.. amounts falling due within one
year
17
{152.689)
(183,486)
Net current assets
360,914
541,071
Total assets less current Ilabilities
8,859,489
9,027,005
Total net assets
8,859.489
9,027,005
Charity funds
Restricted funds
Unrestricted funds
18
18
8,859,489
9.027.005
Total funds
8,859.489
9,027,005
The financial statements were approved and authorlsed for Issue by the Trustees and signed on their behalf by.
The notes on pages 14 to 27 fomi part of these financial statements.
Page 12

NORTHCOTE LODGE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Cash flows from operating activlties
Net cash used in operating activities
(61.327)
487.917
Cash flows from investlng actlvlties
Proceeds from th8 sale of tangible fixed assets
Purchase of tangible fixed assets
(Sale)IPurchase of investrnents
Inte￿$t received
17.000
(73,470)
(22,367)
(108,729) (445,475)
6,596
7.514
Net cash used In Investlng actlvltles
(158,603) {460,328)
Cash flows from flnancing activitles
Repayments of finance leases
(14.347)
(3,985)
Net cash used in financlng activities
(14,347)
(3,985)
Change In cash and cash equlvalents in the year
Cash and cash equivalents at the beginning of the year
(234,277)
564.415
23,604
540.811
Cash and cash equivalents at the end of the year
330,138
564,415
The notes on pages 14 to 27 fomi part of these financial statements
Page 13

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
General inforniation
Northcote Lodge Trust is a charity trust registered in Scotland. The Trust's registered office is at 191
Craigton Road, Aberdeen. AB15 7UB.
The principal activies of the Trust is the provision within the Roman Catholic Diocese of Aberdeen of care,
nursing. and general physical. mental and spiritual welfare of any persons requiring such care. nursing
and welfare including the foregoing generality. the infim. aged and poor and other charitable matters.
Accounting pollcles
2.1 Basis of preparation of flnancial stat8ments
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2015). the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102). the Charities and Trustee Investment
(Scotland) Act 2005 and th& Charities Accounts (Scotland) Regulations 2006 las amended).
Northcote Lodge Trust me8ts the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless Otherwise stated in the
re18vant accounting policy.
2.2 Golng concern
The trustees, having made due and Careful enquiry. a￿ of the opinion that the trust has adequate
working capitsl to execute its operations over the next 12 months. The trustees, therefore, have
made an infonned 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.
Despite the pandemic still being ongoing. the trustees remain confident that the Trust can continue to
operate as a going concern. This assessment is based on the understanding that the Trust will
continue to trade ov8r the coming months. This, along with the level of retained res8rves will allow
the Trust to continue to meet it's obligations as they fall due and operat8 as a going concem.
As a result, the trustees have continued to adopt the going concem basis of accounting in preparing
the annual financial statements.
2.3 Fund accountlng
Gen8ral funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity 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 Charity for particular purposes. The costs of raising and
administering such fijnds are charged against the specific fund. The aim and use of each restrtcted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 14

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies (continued)
2.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either.. the charity is aware that
probate has been granted, the estate has been finalised and notification has been made by the
executor(s) to the Trust that a distribution will be made. or when a distribution is received from the
estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be
measured reliably and the charity has been notified of the executor's intention to make a distribution.
Where legacies have been notified to the charity. or the charity is aware of the granting of probate.
and the criteria for income recognition have not been met, then the legacy is treated as a contingent
asset 2nd disclosed if material.
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party. it is probable 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. Direct costs attribulable to a single activity are allocated directly
to that 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 ar8 allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity
and include project management carried out at Headquarters. Govemance costs are those IncU￿ed
in connection with administration of the charity and Compliance with constitutional and statutory
requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in
trading actlvities that raise funds.
Charitable activities and Govemance costs are costs incurred on the chariws operations, including
support costs and costs relating to th8 governance of th8 charity apportioned to charitable activities.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on d1￿ctlY undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.6 Tanglble flxed assets and depreclatlon
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition. under the Cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impainnent
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Page 15

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policles {continued)
2.6 Tanglble fixed assets and depreclatlon (contlnued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives. using the straight-line method.
Depreciation is provided on the following basis:
Freehold propety
Plant and machinery
Motor vehicles
Fixtures and fittings
200/0
250/0
2.7 Investments
Fixed asset investments are a form of financial instrument and are inttially recognised at their
transaction cost and subsequently measured at fair value at the balance sh88t date. unless the value
cannot be measured reliably in which case it is measured at cost less impaiment. Investment gains
and losses, whether realised or unrealised. are combined and presented as 'Gainsl(Losses) on
Investments. in the statement of financial activities.
2.8 Finance leases and hire purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed
assets. Asset5 acquired by finance lease are depreciated over the shorter of the lease term and their
useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leas8S
are those where substantially all of the benefits and risks of ownership ar8 assumed by the Charity.
Obligations under such agreements are included in creditors, net of the finance charge allocated to
futu￿ periods. The finance element of the rental payment is charged to the statement of financial
activities so as to produce a constsnt periodic rate of charge on the net obligation outstanding in each
period.
2.9 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks.
2.10 Taxation
The Trust is exempt from tax on its charitable activities.
2.11 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charity., this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2.12 Debtors
Trade and other debtors are recogni5ed at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.13 Cash at bank and In hand
Cash at bank and in hand includes cash and short-temi 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.
Page 16

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policles (continued)
2.14 Liabilitles and provislons
Liabilities are recognised vAien there is an obligation at the balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or senlices It must provide.
Provisions ar8 measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is mat8rial, the provision is based on the present valu8 of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the statement of financial activities as a finance cost.
2.15 Penslons
The Charity contributes to a defined contdbution pension scheme and the pension charge represents
the amounts payable by the charity to the fund in respect of the year.
Income from donatlons and legacles
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Donations
7,060
7,060
10,463
Total 2024
10.463
10.463
Income from charitable activities
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Provision of care services
3,881.689
3,861.689
3.710,143
Total 2024
3,710.143
3.710,143
Page 17

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Income from other trading activities
Income from fundraislng events
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Other Income
44
10,296
Total 2024
10,296
10,296
Investment Income
Unrestricted
fijnds
2025
Totsl
funds
2025
Totsl
funds
2024
Deposit account interest
Net income from investments
6,598
50,130
6,596
50,130
7.514
45,239
56.726
56.726
52.753
Total 2024
52.753
52.753
Expenditure on raising funds
Costs of ralsing voluntary Income
Unrestricted
funds
2025
Total
funds
2025
Totsl
fijnds
2024
Costs of raising voluntary income
377
377
735
Total 2024
735
735
Page 18

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysls of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2025
Total
2025
Total
2024
Provision of care services
4,051,254
4.051,254
3.616,553
Total 2024
3,616.553
3,616.553
Analysis of expendlture by actlvltles
Activities
undertaken
directly
2025
Support
costs
2025
Total
funds
2025
Total
funds
2024
Provision of care services
3.631,389
419,865
4,051,254
3.616,553
Total 2024
3,247,771
368,782
3,616,553
Page 19

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysls of expenditure by activities (continued)
Analysis of direct costs
Provision of
car8 service
2025
Total
funds
2025
Total
funds
2024
Staff costs
Depreciation
Food, provisions and medical supplies
Ratas and water
Heat & Light
Travel
R8pairs and maintenance
Printing and stationery
Telephone
Premises expenses
Equipment hire
Recruitment expenses
Bad debt write off
Subscriptions
Miscellaneous expenses
Sensory garden expenses
Motor expenses
Insurance
Sundry expenses
Consultancy fees
Cleaning
Database costs
Computer expenses
2,808,508
164,892
208.598
22,474
116.452
56
4,285
12,175
481
79,080
17,928
198
2.808,508
164,892
208.598
22,474
116.452
56
4.285
12,175
481
79,080
17,928
198
2.489,716
166.740
193.374
18,877
100,233
68
7.437
14,643
530
74.696
18,850
515
8,376
122
194
689
3.744
55.329
6,016
15,554
42,037
6,540
23.491
140
140
(12,335)
5,992
5,498
62,892
4.496
25.457
53,174
17.713
33.235
(12,335)
5,992
5,498
62,892
4,496
25,457
53.174
17.713
33,235
3.631,389
3,631,389
3,247.771
Total 2024
3,247,771
3.247,771
Page 20

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysls of expenditure by activities {continued)
Analysis of support costs
Provision of
care service
2025
Total
funds
2025
Total
funds
2024
Staff costs
Bank charges
Govemance costs
376.025
1.795
42,045
376.025
1,795
42,045
342,958
1,584
24,240
419,865
419,865
368.782
Total 2024
368.782
368.782
10. Auditors, remuneration
2025
2024
Fees payable to the Charitls auditor for the audit of the Chartys annual
accounts
15.300
14.575
11. Other movements In Investments
2025
2024
un￿alIsed gainl(loss) on investments
Manag8m8nt charges
Loss on disposal of investments
294,874
501.652
(17,642)
(14,690)
(318,636) (336,726)
{41.404)
150,236
Page 21

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12. Staff costs
2025
2024
Wages & Salaries
Social security costs
Contribution to defined contribution pension schemes
2,821.581
254,794
108,158
2.521,844
216,747
94.083
3,184,533
2,832,674
The average number of persons employed by the Charity during the yearwas as follows:
2025
2024
No.
Management
Operational
101
102
108
109
One employ88 r8ceived remuneration amounting to mor8 than £60,000 in 8lther year.
Durtng the year. no Trustees received any remuneration (2024 - £NIL).
During the year. no Trustees received any benefits in kind (2024- £NIL).
During the year. no Trustees received any reimbursed expenses (2024 - £72).
The key management personnel of the charlty comprise the care horn8 management team. The total
employee ben8fits of the key management personnel were £376,025 (2024 - £342.958).
Page 22

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13. Tangible flxed assets
Freehold
propety
Plant and
machinery
Motor Fixtures and
vehicles
Fittings
Total
Cost or valuatlon
At 1 April 2024
Additions
Disposa15
7,551,191
117,502
1.541
77,044
57.040
(27,989)
663,809
14,890
8,409,546
73.471
(27,989)
At 31 March 2025
7.551,191
119,043
106,095
678,699
8.455,028
Depreclatlon
At 1 April 2024
Charge for the year
On disposals
1,510.784
134.292
96.908
6.010
69.411
13.663
(23,324)
640,322
10,928
2,317.425
164.893
(23,324)
At 31 March 2025
1,645.076
102,918
59,750
651.250
2,458,994
Net book value
At 31 March 2025
5,906,115
16,125
46,345
27,449
5,996,034
At 31 March 2024
6,040.407
20.594
7,633
23.487
6.092,121
14.
Flxed asset Investments
Listed
investments
Cost or valuatlon
At 1 April 2024
Additions
Disposals
Revaluations
2,393,813
150,131
(318,636)
277,233
At 31 March 2025
2,502.541
Net book value
At 31 March 2025
2,502,541
At 31 March 2024
2.393,813
Page 23

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15.
Stocks
2025
2024
Consumables
6.495
6.837
16.
Debtors
2025
2024
Due wlthln one year
Trade debtors
Prepayments and accrued income
94,914
82,055
62.374
90,931
176,969
153.305
17.
Creditors: Amounts falling due within one year
2025
2024
Trade creditors
Other taxation and social security
Obligations under finance lease and hire purchase contracts
Accruals and deferred income
28,435
54,097
42.698
59,824
14,347
66,617
70.157
152.689
183,486
Page 24

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18.
Statement of funds
Statement of funds - current year
Balance at
31 March
2025
Balanc8 at 1
April 2024
Gainsl
(Losses)
Income Expenditure
Unrestricted funds
General Funds - all funds
9.027.005
3,925,519
(4,051.631)
{41,404) 8.859,489
Statement of funds . prior year
Balance at
31 March
2024
Balance at
1 April 2023
Gainsl
(Lossas)
Incom& Expenditure
Unrestrlcted funds
General Funds - all funds
8.710,402
3,783.655 (3,617.288)
150.236
9,027,005
19. Analysis of not assets between funds
Analysis of net assets between funds - current year
Unrestrtcted
funds
2025
Total
funds
2025
Tangible fixed assets
Fixed asset inv8Stm8nts
Current assets
Creditors due within one year
5,996,034
5.996.034
2,502,541
2,502,541
513.603
513,603
{152,689) {152,689)
Total
8.859.489
8.859,489
Page 25

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
19. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prlor year
Unrestricted
funds
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
6.092,121
6.092.121
2.393,813
2.393,813
724,557
724.557
(183,486) (183.486)
Total
9,027,005
9,027.005
20.
Reconclliatlon of net movement in funds to net cash flow from operatlng actlvltles
2025
2024
Net incomelexpenditur& for the year (as per Statement of Financial
Activities)
(167.516)
316,603
Adjustments for:
Depreciation charg8S
(ProfityLoss on the sale of fixed assets
Decreasel(increase) in stocks
Increase in d8btors
(Decreaseylncrease In creditors
Interest receivable
164,893
{12,336)
342
{23,664)
(16,450)
{6,596)
166,740
194
(111)
{30,992)
42,997
(7,514)
Net cash provlded byl(used In) operating activities
(61,327)
487,917
21. Analysls of cash and cash equlvalents
2025
2024
Cash in hand
330.138
564,415
Total cash and cash equivalents
330.138
564.415
Page 26

NORTHCOTE LODGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
22. Analysis of changes in net debt
At 1 April
2024 Cash flows
At 31 March
2025
Cash at bank and in hand
564,415
(14,347)
1234,276)
14.347
330.139
Finance leases
550,068
(219.929)
330,139
23.
Pension commitments
The charity contributes to a defined contribution pension scheme and the pension charge represents the
amounts payable by the charity to the fund in respect of the year. The amount contributed during the year
was £108,15812024 - 94,083). At the year end there is a balance of £nil {2024 - £nil) to be paid into the
pension schem8.
24. Operatlng lease commltments
At 31 March 2025 the Charity had commitments to make future minimum lease pa￿nentS under non-
cancellable operating leases as follows-
2025
2024
Not later than 1 year
Due 1-2 years
Due 2-5 years
17.280
17,280
8,526
17,280
17,280
23.098
43.086
57,658
25.
Related party transactlons
Control
During the year the Trust was controlled by the trustees.
Transactions
Through the running of the Charity the Trustees may occasionally require to pay expenses in relation to
the running of the Charity which will be reimbursed. During the year no Trustees received reimbursement
of expenses in relation to expenses incurred personally through their positions as a Trustee (2024 - £72).
Page 27

NORTHCOTE LODGE TRUST
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2025
2024
2024
Income
Legacies and donations
Investment income
Resident's board charges
Charitsble activities
7.060
56.726
3,861,689
10.463
45,239
3.710.143
17.810
3,925,519
3,783,655
Other movements on investments
Unrealised (lossygain on investments
(41.404)
150,236
(41,404)
150,236
Gross Income In the reporting period
3.884.115
3.933,891
Less:
Cost of generatlng voluntary Income
Entertainment
377
735
377
735

NORTHCOTE LODGE TRUST
INCOME AND EXPENDITURE ACCOUNT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2025
2025
2024
2024
Charltable actlvitles
Gross wages
Social security
Pension
Food, provisions and medical supplies
Rates and water
Insurance
Heat and light
Repairs and maintenance
Telephone
Printing and stationary
Motor expenses
Sundri8S
2.501,481
219,407
87,620
208.598
22,474
62.892
116.452
4.285
481
12,175
5,498
2,136
2.360
25.457
2.228,984
185,119
75,613
193,374
18.877
55,329
100.233
7.437
530
14,643
3.744
2,037
3,979
15,554
8,376
42.037
23.491
68
74.696
18,850
515
122
166,740
689
194
6,540
Miscellaneous expenses
Consultancy fees
Bad debts
Cleaning
Computer expenses
Travel
Premises expenses
Equipment hire
Recruitment expenses
Subscriptions
Depreciation of tangible fixed asset
Sensory garden expenses
(GainVLoss on disposal of fixed assets
Database costs
53,174
33.235
56
79,080
17,928
198
140
164,892
5.992
(12,336)
17.714
3,631.389
3,247.771
Support costs
Accountancy
Prof8ssional fees
Auditor's remuneration
Wage5 and salaries
National insurance
Pension costs
Bank charges and interest
5,090
16,225
20.730
320.100
35.387
20.538
1.795
6.030
710
17,500
292.860
31,628
18,470
1,584
419.865
368,782
Total expenditure
Net incomel(deficit) for the reporting period
4.051.631
3,617.288
{167,518)
316,603