## **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:
- to keep accounting records following section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the Accounts Regulations have not been met, or
- 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