Aberdeen Life Centre
Charity No. SC042654
Trustee's Report and
Unaudited Accounts 31 December 2025
Aberdeen Life Centre Contents
| Pages | |
|---|---|
| Trustee's Annual Report | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Notes to the Accounts | 5-11 |
Page 1
Aberdeen Life Centre Trustees Annual Report
The Trustee presents his report with the unaudited financial statements of the charity for the year ended 31 December 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. SC042654
Principal Office
Caroline Place Aberdeen Scotland AB25 2TH
Trustees
The following Trustees served during the year:
Mrs Cynthia O. Ibojie General Overseer
Mrs Ebi Sinteh
Mr Efe Ibojie
Key Management Personnel
Mr Akin Coker Financial Adviser
Mr Eje Ibojie Administrative Secretary
Accountants
Airton Broomhill Consulting
22 Dempster Street Grandhome Bridge of Don Aberdeen
Bankers
Bank of Scotland 48 Upperkirkgate Aberdeen AB10 1BA
Page 2
Aberdeen Life Centre Trustees Annual Report
OBJECTIVES AND ACTIVITIES
Our purpose as recorded in the constitution is to relieve those in need because of age, ill-health and disability, financial hardship or other disadvantages. This is achieved through rental income of the property and donations.
The charity has continued its activities in the Helping Hand Project (Pensioners Club), an outreach program launched in 2012. This course aims to engage elderly individuals, typically those over 65, in activities such as crafts, drama, bowling, coffee gatherings, lunch, and basic computer skills training.
FINANCIAL REVIEW
During the year, Aberdeen Life Centre reported a reduction in incoming resources from both rental and voluntary income streams. This movement reflects a planned change in the prior period relating to the cessation of internal rental charges to associated parties, together with periods of temporary vacancy within the property. The Trustees consider these factors to be timing-related and are implementing measures to enhance occupancy levels and optimise future income generation.
The Charity recorded a net deficit for the year of approximately £122,000. This position is primarily attributable to non-recurring and non-cash accounting adjustments, most notably the impairment and subsequent write-off of a historic debtor balance of £56,000 relating to a former connected entity that has now ceased trading. The Trustees have reviewed the recoverability of this balance and, in accordance with applicable accounting standards and the Charity’s accounting policies, have recognised a full impairment in the current period.
In addition, the Statement of Financial Activities reflects finance costs of approximately £45,000 in respect of interest payable on the Charity’s secured lending arrangements. These costs arise in connection with the financing of the Charity’s property assets, which continue to represent a significant component of its balance sheet.
Notwithstanding the reported deficit, the Trustees are satisfied that the underlying financial position of the Charity remains stable. The deficit is largely driven by one-off adjustments rather than underlying operating performance. The Charity continues to manage its cash flows prudently and maintains reserves in line with its established reserves policy.
The Trustees continue to monitor financial performance closely, with a focus on strengthening recurring income streams, improving utilisation of property assets, and maintaining appropriate cost controls. These actions are expected to support a return to improved financial performance over the medium term.
In accordance with its financial policy, Aberdeen Life Centre maintains reserves sufficient to cover planned expenditure for the following month. These reserves are expected to grow over time, ensuring they continue to reflect the capital value of the charity’s assets.
Page 3
Aberdeen Life Centre Trustees Annual Report
PLANS FOR FUTURE PERIODS
The Trustees remain committed to maintaining strong governance and oversight of the Charity’s activities. As part of this commitment, the Board is in the process of being strengthened through the appointment of additional Trustees, bringing a broader range of skills and experience to support the Charity’s strategic direction.
Looking ahead, the Charity is focused on enhancing its financial sustainability through increased occupancy of its premises, development of external income streams, and continued engagement with donors and stakeholders. The Trustees are confident that these measures, together with strengthened governance arrangements, will position the Charity positively for future growth and the continued delivery of its charitable objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Trustees are appointed by the agreement of existing Trustees. The trustees have confidence in the experience and ability of the trustees to administer the activities of the charity. Induction and training will be considered on an ongoing basis, particularly in the event of a new Trustee being appointed.
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 Charities Accounts (Scotland) Regulations 2006 (as amended) and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts by the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
The trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for preparing the Trustees' Report and the accounts by applicable law and United Kingdom Accounting Standards.
In addition, the trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Mrs. Cyinthia Ibojie Trustee 7[th] August, 2026
Page 4
Aberdeen Life Centre Independent Examiners Report
Independent Examiner's Report to the Trustees of Aberdeen Life Centre
I report on the accounts of Aberdeen Life Centre for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Respective responsibilities of trustees and examiner
As the charity's trustee, you are responsible for the preparation of the accounts per the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulation 2006. The trustee considers that an audit is not required for this year under Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations.
As an examiner, it is my responsibility to:
-
examine the accounts under s.44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005;
-
to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out following Regulation 11 of the Accounts Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently, no opinion is given as to whether the accounts present a "true and fair" view, and the report is limited to those matters set out in the statement below.
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:
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to keep accounting records following section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the Accounts Regulations have not been met, or
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2) to which, attention should be drawn to enable a proper understanding of the accounts to be reached.
Ola Soyombo
Airton Broomhill Consulting 22 Dempster Street Grandhome Aberdeen 8[th] August 2026
Page 5
Aberdeen Life Centre Statement of Financial Activities
for the year ended 31 December 2025
Notes Income and endowments from: Other trading activities 1 Total Expenditure on: Other expenditures 2-4 Total Net gains on investments Net income/Expenses Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Total funds 2025 £ 12,705 12,705 (134,989) (122,284) - (122,284) (122,284) - (122,284) 90,423 (31,861) |
Unrestricted Funds 2025 £ 12,705 12,705 (134,989) (122,284) - (122,284) (122,284) - (122,284) 90,423 (31,861) |
Total funds 2024 £ 69,101 |
|---|---|---|---|
| 69,101 (169,114) |
|||
| (100,013) - |
|||
| (100,013) (100,013) - |
|||
| (100,013) | |||
| 190,436 | |||
| 90,423 |
Page 6
Aberdeen Life Centre Statement of Financial Position as at 31 December 2025
Charity No: SC042654
| Notes Fixed Assets Tangible assets Current assets Debtors Cash at bank and in hand Creditors: Amount falling due within one year 7 Total assets less current liabilities Creditors: Amounts falling due after more than one year 8 Total Net assets The funds of the charity: Restricted funds Unrestricted funds: General funds brought forward Net movement in funds during the year Total funds carried forward |
2025 £ 657,223 657,223 55,584 17 55,601 (211,097) (155,496) (533,588) (31,861) - 90,423 (122,284) (31,861) |
2024 £ 672,423 672,423 111,168 1,249 112,417 (205,344) (92,927) (489,073) 90,423 - 190,436 (100,013) 90,423 |
|---|---|---|
Page 7
Aberdeen Life Centre Notes to the Accounts
for the year ended 31 December 2025
Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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) issued on 16 July 2014 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).
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting Unrestricted funds: These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Income is included in the Statement of Financial Activities (SoFA) when the Recognition of income charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure expenditure is reported gross in the SoFA. Voluntary income received by way of grants, donations and gifts is included Donations and legacies in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Income from tax reclaims is included in the SoFA at the same time as the Tax reclaims on donations and gift/donation to which it relates. gifts These are only included in income (with an equivalent amount in Donated services and facilities expenditure) where the benefit to the Charity is reasonably quantifiable, Volunteer help measurable and material. Investment income The value of any volunteer help received is not included in the accounts.
Page 8
Aberdeen Life Centre Notes to the Accounts
Expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which Recognition of cannot be fully recovered, and is reported as part of the expenditure to which it expenditure relates.
These comprise the costs associated with attracting voluntary income, fundraising
Expenditure on raising trading costs and investment management costs. funds Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable
All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs
These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates to write off each asset over its estimated useful life:
Freehold property
50 years Straight line
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short-term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 9
Aberdeen Life Centre Notes to the Accounts
1. Income from other trading activities
| 1. Income from other trading activities | 1. Income from other trading activities | 1. Income from other trading activities | 1. Income from other trading activities |
|---|---|---|---|
| Unrestricted Funds Total Total 2025 2025 2024 £ £ £ Rental Income - -69,101 Donations and other incomes 12,705 12,705 - 12,705 12,705 69,101 2. Other expenditure Notes Unrestricted Funds Total Total 2025 2025 2024 £ £ £ Insurance 3,194 3,194 2,237 Telephone and Internet 448 448 127 Governance cost and other charitable Activities 3 635 635 - Software cost 353 353 353 Light and Heat 3,443 3,443 5,494 Sundry expenses 61 61 605 Rates 46 46 7 Repairs and maintances 410 412 4,551 8,590 8,590 13,374 |
|||
| Unrestricted Funds 2025 £ 3,194 448 635 353 3,443 61 46 410 8,590 |
Total 2025 £ 3,194 448 635 353 3,443 61 46 412 8,590 |
||
| 13,374 |
Page 10
Aberdeen Life Centre Detailed Statement of Financial Activities
3. Governance cost and other charitable activities
| Total | Total | ||
|---|---|---|---|
| 2025 | 2024 | ||
| Charity donations | 7,465 | 1,108 | |
| Purchases | 635 |
- | |
| Motor expenses | 167 | 938 | |
| 8,267 | 2,651 | ||
| . Net income before transfers | |||
| Unrestricted Funds |
Total | Total | |
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| This is stated after charging: | |||
| Depreciation of owned fixed assets | 15,200 | 15,200 | 15,200 |
| Independent Examiner's fee | 1,155 | 1,155 | 1,558 |
| Professional fees | 1,722 |
1,722 | - |
| Bad debt written | 55,584 | 55,584 | 90,231 |
| Interest payable on loans | 44,515 | 44,515 | 46,200 |
4. Net income before transfers
5. Staff cost
No employee received emoluments in excess of £60,000
6. Trustees’ Remuneration
No trustees received any remuneration or other payments from the charity during the year. Additionally, no trustees were reimbursed for expenses, nor were there any related-party transactions involving trustees.
Page 11
Aberdeen Life Centre Detailed Statement of Financial Activities
7. Creditors: Amount falling due within one year
| Unrestricted Funds 2025 £ Accruals 450 Loan from Trustee (C. Ibojie) 210,647 211,097 . Creditors: Amount falling due more than one year Unrestricted Funds 2025 £ Bank loan 533,588 |
Total 2025 £ 450 210,647 211,097 Total 2025 £ 533,588 |
Total 2024 £ 450 204,894 205,344 Total 2024 £ 489,073 |
|---|---|---|
8. Creditors: Amount falling due more than one year
Page 12