Charity registration number SC043489 (Scotland)
SCOTTISH POLICE BENEVOLENT FUND
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

SCOTTISH POLICE BENEVOLENT FUND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Secretary
Charity number (Scotland)
SC043489
Principal address
Auditor
Alexander Sloan LLP
180 St Vin￿nt Street
Glasgow
G2 5SG
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ

SCOTTISH POLICE BENEVOLENT FUND
CONTENTS
Page
Trustees, report
Independent auditorfs report
Statement of financial activities
Balance sheet
Notes to the financial statements
9-16

SCOTTISH POLICE BENEVOLENT FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charity's Constitution, the Charities and Trustee Investment {Scotland)
Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and 'Accounting and Reporting by
Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (as amended for
accounting periods commencing from 1 January 2019).
Objectives and activities
The charitable objectives of the organisation are=
The prevention or relief of povety and the relief of those in need by reason of age. ilkhealth, disability, financial
hardship or other disadvantage by providing assistance in conditions of need to..
members and fomier members of the Scottish Poli￿ Benevolent Fund (or any former Police Force
within Scotland) and their dependants- and
persons or organisations having or having had some direct connection with the Police Service of
Scotland (or any former Police Force within Scotland) and their dependants.
And by supporting The Police Treatrnent Centre (Scotland) and other charities for the benefit of persons or
organisations having or having had some direct connection with the Police se￿iCe of Scotland (or any former
Poli￿ Force within Scotlandl and their dependants and the public at large.
Applications for financial assistance are considered by either the relevant Area Sub Committee or Board of
Trustees Idependant on the amount sought) in accordance with the charitable objectives of the fund.
Achievements and performance
During the year, the sum of £229.138 (2024 £178.906) was received from members of the Scottish Police
Benevolent Fund. This enabled payments of grants to individuals of £31,441 {2024 - £80,432) whilst donations to
other organisations amounted to £37,479 {2024- £33,500).
Financial review
The Statement of Financial Activities shows net income for the year of £180,763 (2024 - £71,595) before gainsl
losses on investments. After gainsllosses on investments, the total movement in fvnds was positive £115,092
(2024 £48,276). A total of £2,711,304 was retained in accumulated funds at 31 March 2025 compared to
£2,596,212 at 31 March 2024.
Resernes policy
It is the policy of the charity to maintain unrestricted funds, vthich are the free rese￿eS of the charity, at a level to
provide sufficient funds to cover the operating costs of the charity for one year. Unrestricted fvnds were
maintained above this level throughout the period thereby enabling the Trustees to respond to support needs
should they arise.
Principal funding sources
The principal funding source is contributions from serving poli￿ officers.
Investment policy
The investment policy of the charity is to increase income in line with inflation while preserving the real value of
capital sums invested.
Risk management
The board of Trustees have assessed the major risks to which the Scottish Police Benevolent Fund is exposed,
in particular those related to the operations and finances of the Scottish Police Benevolent Fund, and are
satisfied that systems are in place to mitigate exposure to major risks.

SCOTTISH POLICE BENEVOLENT FUND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Plans for Future Periods
To continue to provide for the prevention or relief of povety and the relief of those in need by reason of age, ill-
health, disability, financial hardship or other disadvantage by providing assistance in conditions of need.
The fund is looking to explore new sources of fvnding which has not featured during the history ofthe fund.
The fund will continue to develop and idents'fy potential subscribing members from Y￿thin the Poli￿ Service of
Scotland.
Structure, governance and management
Goveming document
The Scottish Police Benevolent Fund is a Scottish Charitable Incorporated Organisation (No. SC043489)
established on 15 October 2012 and governed by its Constitution.
The trustees who served during the year and up to the date of signature of the financial statements were..
Appointment of Trustees
The members of the Board comprise of a maximum number of fifteen Trustees who are elected annually at the
AGM by the members. The Board of Twstees then elect from its membership a Chairman and a Secretary. The
appointment of Treasurer is made by the Trustees, however they need not aLrtomatically be a member of the
Board.
Organisational stmcture
The structure of the organisation consists of-
The Members who have the right to attend members. meetings (including any annual general meeting) and
have important powers under the constitution- in particular, the members appoint people to setve on the Board
and take decisions on changes to the constitution itself..
The Board who hold regular meetings, and generally control the activities of the organisation- for example, the
Board is responsible for monitoring and controlling the financial position of the organisation. The people serving
on the Board are the Charity Trustees.
The Board of Trustees are supported by three area Sut￿comMitteeS vthich comprise of three Trustees and shall
not exceed 18 members inclusive of the Trustees. These area committees also have representation from the
RPOAS, ASPS and Police Staff. The Chief Constable of the Poli￿ Service of Scotland is the honorary president
of the Scottish Police Benevolent Fund.
The Trustees are responsible for t
to-day management is delegated tc
ation and financial affairs. The responsibility for the day-
easurer.

SCOTTISH POLICE BENEVOLENT FUND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Statement of Trnstsu, responsibilities
The trustees are responsible for preparing the Trustees. RepNt and the financial statements in a￿ordanCe wth
applicable law and United lfjngdom ACC(￿ntIng Standards (United Generally Accepted ACcOL￿ting
Practice).
The law applicable lo charities in Scotland requires the trustees to prepare financial statements for each financial
year which give a true and fair view of the state of affairs of the charity and of the incoming resources and
application Df resources of the charity for that year.
In preparing these financial statements. the trustees are required to:
- Select suitable accounb'rKJ ￿eleS and then apply them consistenty.
- ob8eNe the methods and princiFAes in the Ch￿tIeS SORP FRS 102:
- make judgements and estimates that are reasonable and wudent:
- state wthetlEr appIl￿ble accounlirvJ starKlards have been subject to any material departures
disclosed and explained in the finanaal Statem￿,. and
- prepare the financial statemerrts on the ￿1r9 concem basis unl8SS it is inappropriate to wesum8 that the
charity will continue in Operats.￿.
T￿ trusteès arè responsible for keeping sufficiént aCCo￿ting records that thsdose rèasonatr4e accuraty at
any time the financial position of the chaiity and enab￿ them to ensure that the finanaal statemerts comptry )Mth
the Charities and Trustee Investrnent (Scolland) Act 2005, ts Charitses Accounts (Scotland) Regulations 2006
(as amended) and the provisions of the constitutron, They are also responsible for safeguarding the assets of tho
charity and hence for taking reasonable steps for the prevention and detedion of fraud and other irregularities.
The Trustees, report wa8 approved by the Board of T￿￿tee8.
Trustee
Dated: 25 August 2025

SCOTTISH POLICE BENEVOLENT FUND
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF scorrisH POLICE BENEVOLENT FUND
Opinion
We have audited the financial statements of Scottish Police Benevolent Fund {the 'charity') for the year ended 31
March 2025 which comprise the statement of financial activities, the balance sheet and the notes to the financial
statements, 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 Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting practi￿>.
In our opinion, the financial statements-
give a true and fair view of the state of the charity's 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 Practi￿.
and
have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and
regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
Basis for opinion
We conducted our audit in accordance Intemational Standards on Auditing (UK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit ol
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 ststements in the UK, including the FRC'S Ethical
Standard, and we have ￿lfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have conduded that the Trustees, use of the going COn￿M basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going
concem 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 con￿rn are described in the
relevant sections of this report.
Other information
The other information comprises the infomiation induded in the annual report other than the finarcial statements
and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual
report. Our opinion on the financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent Y￿th the financial statements or our knowledge obtained in
the course of the audit, or othewse appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether this gives rise to a materk81 misstatement
in the financial statements themselves. If, based on the work we have performed, we conclude that there is a
material misstatement of this other infomiation. we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities knunts (Scotlandl
Regulations 2006 requires us to report to you if, in our opinion=
the information given in the financial statements is inconsistent in any material respect with the Trustees,
report., or
proper accounting records have not been kept., or
the financial statements are not in agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.

SCOTTISH POLICE BENEVOLENT FUND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF scorrisH POLICE BENEVOLENT FUND
Responsibilities of trustees
As explained more fully in the statement of Trustees, responsibilities, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they 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 charity's ability to continue as a going concem, disclosing, as applicable, matters
related to going concern and using the going concem basis of accounting unless the trustees either intend to cease
operations, or have no realistic altemative but to do so.
Auditorfs responsibilities for the audit of the financial 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 vh)ether the financial statements as a whole are free from
material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
th 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 influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting i￿egUlar1ties. including fraud. is detailed below.
Our approach lo identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations. was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-complian￿ wth applicable laws and regulations.,
we identified the laws and regulations applicable to the charity through discussions with Director5 and other
management, and from our wider knowledge and expenence of the chanty sector.,
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the charity, including the Charities SORP (FRS 102) and the Charities
and Trustee Investment (Scodand) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as
amended).
we assessed the exient of compliance with the laws and regulations identtfied above through making enquiries
of management,. and
identified laws and regulations were communi&gted within the audit team regularly and the team remained alert
to instan￿$ of non-compliance throughout the audit.
We assessed the susceptibilty of the charitable company's financial statements to material misstatement, including
obtaining an understanding of how fraud might occur. by..
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge
of actual, suspected and alleged fraud: and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to idents.fy any unusual or unexpected relationships;
tested journal entries to identify unusual transactions-
assessed whether judgements and assumptions made in detemiining the accounting estimates set out in the
notes were indicative of potential bias,. and
investigated the rationale behind significant or unusual transactions.

SCOTTISH POLICE BENEVOLENT FUND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF SCOTfisH POUCE BENEVOLENT FUND
In resp¢xse to the risk of Irreg￿arlIie5 and nOr￿pIlanCe with Iws and reg￿al￿On5, we designed procedures
which induded, but were n(A limited to:
agr￿ng financial Statern￿t disdosures to underfw'ng supporting dOe￿nentation.
reading the minLrtes of meetings of those charged with govemance.
enquiring of management as to actual arKI wtential liti'gation and daims. and
rnqu8sting corrnspond8nc8 with HMRC. OSCR and the chariVs18gal advisor&
reviewing unadjusted error8 for indications of fraud and information receNed for inconsistencie8.
a￿ irthe￿￿ limilations in (wr audit vocedu￿6 de￿ibed above. The more ￿MoVed that laws and
regulations are from financial transactions, the kss Skely tt is that VnL4d become aware of noTrcompliance.
Auditing standards also limit the audit procedures required to identify nOr￿COMplIance with laws and regulations to
enquiry of the Tnjstees and other management and the inspecb'on of regulatory and legal correspondence. if any.
Malerial misstatements thal arise due lo fraud can be harder to detect th￿ those that arise from error a8 they may
involve dgliberate concealment or Collu￿orK
A further description of our responsibl￿tIeS is available on the Financial Reporting Councif8 th*b8ite aL' https.'Il
W*WI.frc.org.uklauditorsre8ponsiblities. This description forms part of our auditorfs reporL
Us• of our r•port
This rewt is made solely to the charty's trustees, as a body, in accordance *ith Regula￿.On 10 of the Charities
Accounts (Scolland) Regulalions 2006. Our audit work has been undertaken so that we might stste to the charity's
trustees those matters we are required to state to them in an auditor's report a￿j for no other putpc>se. To the fvllest
extent pennitted by law, we do not accept or assume responsibilty to anyone other than the charity and the charlty's
trustees as a botty, for our audrt wtirK for this rert or for ￿ opinions ￿ have formed.
Alexand•r Sloan LLP
Accountants and Business Advisers
180 st Vincent Street
Glasgow
G2 5SG
319r2025
Alexander Sloan LLP is eligible appointrnent as auditor of thanty by virtue of its eligiblty for appointment as
auditor of a company under section 1212 of the Companies Act 2006.

SCOTTISH POLICE BENEVOLENT FUND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
un￿strICted Unrestricted
funds
funds
2025
2024
Notes
Income and endowments from:
Donations and legacies
Investment income
Other income
255,119
63,692
186,102
55,704
733
Total income
318,811
242,539
Cost of charitable adivities
138,048
170,944
Net income befo￿ gainsl{losses) on investments
180,763
71,595
Net gainsl(losses) on investments
13
165,671)
{23,319)
Net movement in funds
115.092
48.276
Fund balances at 1 April 2024
2.596,212 2,547,936
Fund balances at 31 March 2025
2,711,304
2,596,212
The statement of financial activities indudes all gains and losses recognised in the year. All income and
expenditure derive from continuing activities.
The notes on pages 9 to 16 fomi an integral part of these financial statements.

SCOTTISH POLICE BENEVOLENT FUND
BALANCE SHEET
AS AT31 MARCH 2025
2025
2024
Flxed as80ts
Investments
Currnnt as9•ts
Debtors
Cash at bank and in hand
14
1.824.059
1,889,730
15
179.228
724,131
142.940
575,038
903.359
717,978
Credltors: amounts falllng due wlthln
one year
16
(16,114)
(11,496)
Net current assets
887.245
7C6,482
Total assets less current liabilities
2,711,304
2,596,212
Incolne fvnds
Unrestricted funds
2,711,304
2.596,212
2,711,304
2,596,212
The financial ststements were approved by the Trustees on 25 August 2025
Trustee
The notes on pages 9 to 16 fomi an inlegral part of these financial ststements.

SCOTTISH POLICE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting polcies
Charity Inforniation
Scottish Police Benevolent Fund Is a Scottish Charitable Incwrated O
Scotland. The registered office address and principal place of business i
8nisatTon
sc
istered in
1.1 Accountlng conv•ntlon
The finanaal statements hav8 been pr6par8d in accordance with tho Statement of Recommended Practice..
Accounting and Reporting by Charities p￿paring their Accounts in accordance wth Financial Reporting
Standard 102 (effective January 2019), the Charits'es and Trustee Investment {Scotland) Act 2005, the
Charities Accounts (Scouand) Regulations 2006 (as amended). The chanty constitutes a public benefrt entity
as defined by FRS 102.
The financial statements are prepared in sterlng, which is the functional currency of the charity. Monetary
amounts in these financial ststements are rounded to the nearesl £.
The financial statements are prepared under the historica cost convention with items recognised at cost or
transaction value unles5 otherwise stated in the rdevant Notes to these financial statements.
The principal accounting pclicies adopted in the preparation of the financial statements are set out below.
1.2 Golng concern
At the time of approving the financial ststements, the trustees have a reasonable expectation that the charity
has adequate reSoUr￿S to continue in operational existence for the foreseeable fijture. Thus the tr[￿tee$
continue to adopt the going concem basis of accounting in preparing the financbal statements.
1.3 Charitable funds
Unrestricted funds are expendable at the disuthon of the Trustees In fvrtherance of the objects of the chanty.
If parts of the unrestricted funds are eamiarked at the discretion of the Trustees for a particular purpose, they
are designated as a separate fund. This designation has an administrative purpose onty and does not legally
restrict the Trustees, discretion to appty fun(1
1A Income
Income is recognised when the charity is legally entitled to rt after any perfornian￿ conditions have been met,
the amounts can be measured re￿atAy, and rt is probable that income ￿111 be received.
Donatlons and legacies
Donations are recognised when the chanty has evidence of enthment to the gift, receipt is proteble and rts
amount can be measured rdiabty. Entidement usualty arises immediately upon receipt, however, in the event
that a donation is subject to conditi￿S that require a level of performance befo￿ the tharity is entitled to the
funds, the income is deferred and not recognised untl either t￿￿)Se conditions are fully met, or the fulfilment of
those conditions is wholly within the control of the charity and it is probatle that those conditions will be
fulfilled in the ￿pOrting period.
Legacy gifts must be recognised when it is probable that it ¥*ill be received. This is normally following the
granting of probate. when the administratorlexecuior of the esLgte has communicated in vffiting both the
amount and sethement date and any condits.ons attached to the legacy are either v￿thin the contrcl of the
charty or have been met. In the event that the gift is in Ihe fomi of an asset other than cash or a finanaal
asset traded on a recognised stock exchange. recOgn￿on is subject to the value of the gift being reliably
measurable with a degree of reasonatle accuracy and the tstle to the asset having been transferred to the
charity.

SCOTTISH POLICE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcleg
(Contlnuod)
GfftAld
Income tax recoverable on Gift Aid donats.ons is recDJnised when the respectrve dOnat￿n ha8 been
recognised and the recoverable amount of income tax can be measured reliably,. this is nomially ￿en the
donor has completed the relevant Gift Aid declaration form. Income tax recoverable on Gift Aid donations is
allocated to the same fund as the respective donation urdess specffied by the donor.
Inv•stm•nt income
Interest on funds held on deposit is induded when receivable and the amount can be measured
reliably by the charity., this is normalty upon notification of the interest paid or payatle by the bank.
Dividends are recognised vthen the sharehcAde¢s right lo receive payment is established, measured at the fair
value receivable. Generally this is upon notification by the investment advisor once the dividend has been
dedared.
1.5 Expendtture
Expenditure is recognised once there is a ￿al or constructive obligation to transfer economic benefit to a
third party, it is proballe that a transfer of economic benefits will be required in settlement, and the amourrt of
the obligation Can be measured reliably.
Expenditure is dassified by adivity. The costs of each activity are made up of the total of dir￿ costs and
shared costs. induding support costs invc4ved in undertaking each activity. Direct costs attributatAe to a single
activity are allocated direcdy to that ath'vity. Shared costs which contribute to more than one acb'vity and
support costs which are not attributable to a &ngle activty are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
Expenditure on Cha17table Activitles
Expendrture on charitable activities indudes all costs incurred by the charity in undertaking activities that
further its charitable aims for the benefrt of its benefiaaries, induding those support costs and costs relating to
the governance of the charity apportioned to ¢harttatAe activities. The wsts of ¢haritatAe activities presented
in the Ststement of Finanaal Acts'vits'es indudes the costs of both direct service provision and the payments of
grant awards rf applicable.
Governance costs
Governance costs (which are induded as a component of support costs in accordance V•ryth SORP) comprise
all costs invofving the put4ic accountabilty of the charity and its compliance wth regulation and g¢)od pra￿1￿.
These costs indude those related to consb"tutional and statuiory requirements, extemal scrutiny (audit or
independent examination). strategic managemenc and other legal and professional fees.
Grant expendlture
Grants payable are made to third parties in the furtherance of the charitable objects. The award of a grant is
cognised as a liability only when the criteria for a constructive oNigation are met. payment is probatle, it can
be measured reliabty and there are no conditi'ons attaching to ts payment that limit recognition.
In the case of an unconditi'onal grant offer. this is accrued once the recipient has been notified of the grant
award. The notificati￿ gives the recipient a reasonaik expectation that they will receive the one•year or
multi-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only
accrued when the recipient has been notified of the grant and ary ￿MainIng unfulfilled condrtion attaching to
that grant is outside of the contrcl of the charty.
10-

SCOTTISH POLICE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcleg
(Contlnuod)
1.6 Flxed asset Investments
Investments are a fom of basic financial instrument arKI are inrtialty recognised at their transaction Va￿e.
Investments in equity shares have been induded in the balance sheet at market value, using the closing
quoted share price. Investments in investment trusts, unit trusts, open ended investment companies (OEICS)
have been included in the balance sheet based on the chantys share of the net asset value (NAV) of the fund.
Al gains and losses are taken to the Statement of Financial Acttvities as they arise. Realised gains and
losses on investments are cakulated as the difference belween sales proceeds and their opening carrying
value or their purchase value rf acquired subsequent to the first day of the financial period. Unrealised gains
and losses are calcLlated as the difference between the value at the year-end and their value at the prior
year4nd. Realised and unrealised gains and bsses are combined in the Statement of Financial Adivities.
1.7 Cash and cash equlvalents
Cash at bank and cash in hand indudes cash and short term highty liquid investrnents with a short maturity of
three months or kss from the date of acquisition or opening of the deposit or similar account.
1.8 Flnanclal Instruments
The charity onty has financial assets and financial liabiltties of a kind that qualfy as basic finanaal
instruments. Basic finan￿al instruments are initially recognised at transaction value and subwuenlly
measured at their setdement vthe.
1.9 Retlrement beneffts
Payments to defined contribution retirement benefft schemes are charged as an expense as they fall due.
1.10 Debtors
Trade and other debtors are recognised at the setuement amount due after any discount offered.
Prepayments are valued at the amount prepaid after taking account of any discounts due.
1.11 Credltors and provlslons
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event
that wll probably result in the transfer of funds to a third paty and the amount due to settle the obligation can
be measured or estimated relialAy. Creditors arKI provisions are normally ￿CogniSed at their settlement
amount after allowing for any trade discounts due.
Crltlcal accountlng estlmatss and Judgements
In preparing the financia statements, the Trustees are required to make estimates and assumptions which
affect reported income, expenses, assets, and liabilities. Use of available infomiation and application of
judgement are inherent in the fonnalion of estimates, together with past experien￿ and expectations of future
events that are believed to be reasonable under the circumstance& Actual results in the future could differ
from such estimates.
Critical judgements
Investments
The charity's investments are held as units in an open ended investment company (OEIC). The value of the
units is based on the charitys share of the net asset value (NAV) of that fund and which is calculated by the
fund manager. This is deemed to be a reasonat4e estimate of the fair value of the investment
11

SCOTTISH POLICE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Donations and legacies
Unrestricted Unrestricted
funds
funds
general
general
2025
2024
Donations and legacies
Legacies receivable
Membership subscriptions
15,396
10,585
229,138
7,196
178,906
255,119
186.102
Investment income
Unrestricted Unrestricted
funds
funds
general
general
2025
2024
Income from investments
Interest receivable
48,979
14,713
45.497
10.207
63,692
55.704
Other income
Unrestricted Unrestricted
funds
funds
2025
2024
other income
733
12-

SCOTTISH POLICE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expenditure on charitable activities
2025
2024
Direct costs
staff costs
Premises costs
Running costs
Interest and finance charges
Governan￿ costs
40,206
2,675
11,175
3,494
11,578
37,781
2,654
1,724
2,720
12,133
69,128
57,012
Grant funding of activities {see note 8)
68,920
113.932
138,048
170.944
Analysis by fund
Unrestricted funds
138,048
170,944
Net movement in funds
2025
2024
The net movement in funds is stated after chargingl{crediting)'.
Fees payable for the audit of the charity's ffinancial statements
10.200
9.696
Grants payable
2025
2024
Grants to institutions..
The Police Treatment Centres
Scottish Powerchair Football Association
COPS for Ukraine
31,000
4,500
1,979
33.500
37,479
33,500
Grants to individuals
31,441
80,432
68,920
113,932
Trustees
None of the trustees (or any persons connected wth them) received any remuneration or benefits from the
charity during the year. During the year 10 Trustees (2024 - 8 Trustees) were reimbursed expenses
amounting to £1,56912024- £1.555).
13-

SCOTTISH POLICE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10 Auditor's remuneration
The analysis of audilorfs remuneration is as follows..
Fees payable to the auditor:
2025
2024
Audit of the annual accounts
10,200
9,696
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Employees
Number of employees
The average monthly number of employees during the year was..
2025
Number
2024
Number
Number of employees
Employment costs
2025
2024
Wages and salaries
Other pension costs
38,584
1,622
36,145
1,636
40.206
37.781
The remuneration of key management personnel during the year, including wages and salaries and
employer's contributions to nats'onal Insuran￿ and pensions, was £40,206 (2024 - £37,781).
There were no employees whose annual remuneration was £60,000 or more.
13 Net gainsl(losses) on investments
Unrestricted Unrestricted
funds
funds
general
general
2025
2024
Revaluation of investments
(65,671)
{23,319)
14-

SCOTTISH POLICE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14 Fixed asset investments
Listed
investments
Cost or valuation
At 1 April 2024
Valuation changes
1,889,730
{65,671)
At 31 March 2025
1,824,059
Carrying amount
At 31 March 2025
1,824.059
At 31 March 2024
1,889.730
2025
2024
Investments at fair value comprise..
FP Apollo Multi Asset Cautious Fund Share Class D
1,824,059
1,889,730
15 Debtors
2025
2024
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
73,554
105,674
84,948
57,992
179,228
142,940
16 Creditors: amounts falling due within one year
2025
2024
Other creditors
Accruals and deferred income
5.914
10.200
1.800
9.696
16,114
11,496
17 Financial instruments
2025
2024
Carrying amount of financial assets
Debt instruments measured at amortised cost
Equity instruments measured at cost less Impai￿nent
73,554
1,824,059
84,948
1,889,730
Carrying amount of financial liabilities
Measured at amortised cost
16.114
11.496
15-

SCOTTISH POLICE BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
18 Retirement benefit schemes
2025
2024
Defined contribution schemes
Charge lo profit or loss in respect of defined contribution schemes
1,622
1,636
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
19 Related party transactions
There were no disdosable related party transactions during the year nor in the prior year.
16-

The following pages do not forni part of the statutory accounts

SCOTTISH POLICE BENEVOLENT FUND
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2026
2024
Donations and legaaes
UF Legacies
Membership subscriptions
15,396
10.585
229.138
7,198
178.906
255,119
186,102
Income from th'sted investments
Interest received
48,979
14,713
45,497
10.207
63.692
55.704
Other income
733
733
Total Income
Total •xp•ndlturn
Not galns on Inv•stm•nts
318.811
(138,048)
65.671
242,539
(170,944)
23,319
Net surplus for the year
115,092
48,276

SCOTTISH POLICE BENEVOLENT FUND
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT (CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Charitable activities
Grants
able
Grants to institutions
Grants to individuals
37.479
31.441
33,500
80,432
68.920
113,932
Wages and salaries (use database for trustees)
Staff pension costs defined contribution
38,584
1,622
36,145
1,636
40,206
37,781
Premises costs
Rent
Insurance
1,800
875
1,800
854
2,675
2,654
Runnin
costs
Computer, website and IT costs
Advertising
Subscriptions
General expenses
238
8.612
279
2.046
581
279
864
11,175
1,724
In
fin
Bank charges
Commission to CAF
89
3,405
60
2,660
3,494
2,720
Governance costs
Audit fees
AGM CoSts￿rUsteeS expenses
10.200
1.378
9,696
2,437
11,578
12,133
Total charitable activities expenditure
138,048
170,944
Total expenditure
138,048
170,944