NES FE Foundation SCIO IA Scotti¥h Charitable Incorped OrganlB•tion) Annual report and financial statements for the year to 28 February 2025 Scottlsh tharity refeRnce: SC044635 NESFEF SCIO 2025wl8ffj2481ts374f81-g2Ith12•114thI P•3•'. 1118
NES FE Foundation SCIO IA Scottlsh Charltabl• Incorporat•d Or8•nts•tlon) Contents Page Charty infcwm Repcrtl ofthe Tntstees Stalemerl ol Tnjstees. re$F#Xtslll Indèrththnt eX'S rep(xt statemerrt offinara xtiwties Balance sheel 10-15 NESFEF 8CIO 2o25.Fdi8ffj2481b274ftm7wJ2•g11•OkI Py.. 2 118
NES FE Foundatlon SCIO IA Scottlsh Ch•rftabl• Inc¢rpow•t•d OrwthtboThl TN•te•• TrwuT•f Principal •ddre•g NES FE SCIO 8wrrts pa LLP 1 Vfyrnl 10 1DQ Prlnclwl b•Trk•f• 1 <)wens Cr3 *BI54XU 8ollcllor• s pa LLP UnKm Plua 1 UnKffj ABIO IDQ D014QB Ch•rty No
NES FE Foundation SCIO Report of the Trwtees lor the Ye 28 Fetrfw 2025 ac¢tIl9 pc4KitiJ set ¢rt the financ1 stslements cfyiwy th Ihe F{Xr'S ISco#andl Reguicrn 2008 las ¥nerwJedl ar•J RepLY¢ry by Ch•nbes.' Statemwrt Frla1 Re[¥d Starmlard li Ihe UK aThl RepJtAK al Irel¥ wknltshed Oèef 2019. The charity )fomth 1 (Mrt ffj p•Je 11(rn al this feF•XI. FrAThJakn lo swve as Trustees the NES FE FrAr¥jab c¥ne it> b•r4J was Ic a SIdent Re¢d Syskni the WCfThJ a Mwketsw IrAts to siwtyt C>n Tr TnL%tees continue to MlIar Ihe ¢sIrtUtiC. polkies and proCe(re$ h•ve effective structtle to th to lo wth njes and reyJlatKrn ch¥rt Fn)m the 1cfftial ol FthXK1tM the Tntststt. wth the assisLw cl prSlOn•1 advigers, deW.d an Invesbrtht Polw to salegu¥d the fwmls c<xThr¥ the F(rthti0ft. so on tr Truste we kept to • mThn.
NES FE Foundatlon SCIO IA ScottSsh Ch•rltable Incorpor•t•d or8•nItIon1 Report of the Trustee lor the •r 20 Fe1Ku 2025 Icontinwdl Legal and administrative arT•ng•m•nts NES FE Foundalion SCIO is a Scottish chWitab Incyxpvaled Organisalion ISCIOI. pvemel by its corfstittrtion. and has th•ritatAe statsts under the Charities and TnrJtee Investment Iseotlandl Act 2C(15. The Scottish charty is SC044635. The SCIO was recognised by the Office of the So)ttsh Charty Regulator IOSCRI on 7 February 2014. The Idthess BLwness P•Jl LLP, Union Pa. 1 Unbon Wynd. Abèrdeen. AB10 1 DQ. Trut••• The TnLqt•es at the bal Jheel date are as stated M pa9e 1. Apw'ntmènl ol Trwte•• The maxinum numb•r ol l¥ 7 wllh no more th•n 3 vtho •re •pw)knt•d by Nth Esl Scdand College and 4 •re Ind?p•nd•nt Tntste. Any member ol Board can an irrtlNidu•l tr> b• w Ir Tntslw. North Ea¥t Scolwvj Cdknge m•y •t Y l#))e appoknt any member to be • TnLqle• at any remove any Trustee Inted ty themse. Any TnBte• h•$ s¢Th¢d for a lemi of trne years rr1 retire fri¥n offk• •1 the oer•l Tru•t•••' In¢kKtion Th? Trwt¢¢¥ have a poh'cy on Trustée •Thd tr•inrwJ prnr to • new Tnntèe Ing appthted. This included awarenes5 of a Trustee's responsibiliti'es, goveming document. •(knlnlstr•b' oc•dures, the IMSW philosophi1 approach of the Foundatson. A new Tntslee would receive copies ol the previ9 ye•r'g financi•l st•t•ments, minutes of TnteeJ meetsrvp and a Copy of the OSCR Se•fièt'Guide ar gOj practice for Chaty TnMtts' approwiate. Tr•wivvJ Is lo rrnnt Tnmtees as vld vthen required. K•y m•n•g•m•nt p•rwnn•l The Tnjstees ccfflsthr the bo•rd ol Trustws to be the key m•nagewthl ol the FoundalK)n, in ¢h•rg• of directing ar ccffltrolliTrJ the Foundation and nmniry and operat'ng the FOurdatI on a day lo d•y basm. All Trustees gNe the¥ lime freety arKI no Trustee rfAnuneration or expense$ was paid in the y•*. Trustees are required to di101• all le¥•nI inlerests and n •ccud•nc¢ wllh thè Tntsfs p NESFEF SQO 2025.rAYIen248lts374l-92&rl2a9l4th1 Py.. 5116
NES FE Foundation SCIO IA Scottlsh Ch•rtt•bl• Incorpor•t•d nothI Report ol the Tnmtets lor the year 28 Ffjbru 2025 Icontlrbwd) Objectives and xtbvities The purpose of Ihe Fourylakn is 'To thance edu11, in p¥tsgJlw kn enhvKe the lewniTrJ eXPere SIts eThJaqed in fwtrr edatl m Abefdeen and Abefdeensh're, by siypJ1KwJ'. (al the ddwery ol kryoved teaCTra acoynmodatiw. facrt or •quwl Ibl the development of teaching materials aniv 1¢) the delivwy of cowsej." Fin•nci•l p11•0 The rejutts for thè yw w• shown In the attadd Ststwnwt of Fh•nciil Athits Bal¥AKX Sheet fr •1 kj 28 F¢UY 2025. InvMtm•nt pollcy NES FE Fnd•tl •¢•k• to produL¥3 the bMI fin•1 wlthh In •w••d knv•l ol dyr•Jent on •n •[• lor•c••t lo be d11bd. Nthithstandir4J the •bove, wrtal preservattr r4 of paramowl knpJl•nce. The investmenl oty"•ctive lor assets is to Pf•Sefve uprtal valw wilh a l•vd ol It. Amets be reaithty avaiWI• unltsy w•ed by the 8o•rd ol Truslees. Rlsk m•n•gem•nt The TNglees have Msessed the m•hor rigks to the FO•t10n is exposed, wi pvbcular Il#)se rdated to the operats'M$ and finances ol the FtrlItitin. The mam li idènb'fied is enswty that onty ftnding rewests ppropriatt lo the FouTrJatkin's charitable alms e authon.sed by Trustett. Thh riik is mitlled by ensurlng Ill lundiTrJ reque¥ts b?ing rewewed by the Truglees Pr to ¥ny award belw m•d•. RM•rve• Chlable purposes. Al the yèw eThl, reMNe mcAmtsd lo £549.700. (2024.. £1.103.7411. NESFEF kr4xY¥ 2025p* tth248b&1b37407eA•2O9I14 Pa9D'. 8118
NES FE Foundation SCIO IA Scott15h Charltable Incorpor•l•d Or8•nIls0nj Report of the Trustees for the year 28 February 2025 Icontinuedl Future strategy No th•nge$ are al pre8enl envtsaoed ffi the FndaOn'3 as ouyined ab)ve. Connected bodies The Tru51ee East SlIan ege finan¢ial ststemenls an ere aLw members of the Boar(l of Managemenl ol Ntrth uring Ine year. Tran5acIKS Wrth the Clege are 9iven in nole 6 to thq Approved by the Trustees and signed on ihetr behalf by.. D*e 18 Oc¢ober 2025 NESFEF SCIO 2025 [81624W1b3741B2wT•gI448B4 Pffj• 7 118
NES FE Foundatlon SCIO IA Stottlsh Chartt•bl• Incorpor•t•d I1$•t10Th) Gernrally A£cepled Ace¢AmtirKJ Prictl eh finanwl year wlmch give a fair vm¥ cd the slate d affairs crf the SCIO arthj of the resrMc•s aFp1Ka1 cl rexwces ol the SCIO for thal ptt. In weparThJ tte rmancial statements, the Trustees are rewed to". •cwacy at the finaneAI Posbkn of the SCIO enatrAe them lo enswe that the fm•rtial statements compty wrth the Ch¥ths TnMt•e Investry Isco1) Act 2005, the Charths Acojwth (scoldI Regulat3 las aMeIed) the of Ihe cons11luti. They are •150 re¥K)It Iw sal•w¥<4 fv assels ol the SCIO WMI f(w takry Teasry)•tA•
NES FE Foundation SCIO IA 5cottlsh Charttable IncoTpor4t•d Or8•nIlI0l Rewl of the Indepenthnt Examlner lo the Trustees of NES FE Foundation I rerYt on the finanrA staleirnts of the ¢hwty the yew er•ded 28 Fetxuary 2025 thch •le sel cxrton pw8to 15. This report ts m•Je lo Ihe Tntstees. as a boty, in aCcOrdar wth the tem)s of my enga9emerh My w(¥k has been undertaken lo efiab me to rerNt ry opnIc set out bekN and fw no ot purF)se. To the Iles¢ exlenl pemthed ty I I do noi t or a5swnE e¥slIrtY lo ary othev than Ihe Trustees. as a t)dy, for my wo(k thts reFK)rt. Re5ClIve responibililies of the Trustees arrtl Examiner The charty's Trustees are reSpr%1e lor the pTepw•lH of tr fiTr•w•l statements In •ccyd•nce wrth the lemis of Ihe Chanbes aTrd Trustee Investmerrt Ise¢lndl Acl 2Crf)S arrtl the Charrt>es P¢o)wls Iscottandl RegulatnS 2rth las •mendedl. The ch•rrty's Tntstees ¢Crner that tt •udrt rewirement of Re9ulakn 10(11 lal to lel ol the 2C()6 Acwits Rew14115 doe5 rK wppty. h my resp)nsib'lty to examffte the fin41 slalements as requ¥ed uThJer Sec1 44111 Icl ol the Acl and lo slate ¥thethef m•ttern have c(xr lo my 0ttentK. 8•5iJ ol Independent Examiner's Sttement My eumffjat Is oul In xc4rd•rtt ReWkntX 11 of the 2CTh £Cnts Regulatsh. An exarnlnallG Indje5 a rewew ol the x¢¢MthlirYJ fectyds kept by Ch•r arKI a C11S0n trf Ihe fina1 sIalennIS presented wrth those rec(Y¢ts. 11 •lso rtudes (g$r•b( ol any wusu•l or disdosurej In the fin•nual slat¢ffnts, arKI seeks exOn5 frcrf) the Tnjstees c£ncemir¥ arry such matters. Tr prcKedures un¢rtaken do rKA wovKle all evIJer that wrAJld be requTrd In an aLpJrt. and thisequentty I do t e¥wess an •wlrt On on the given by the fineI slalements. Indepenthnt Examiner'j Statsmerf In the )e al my eXwnW1. no m•tlei has ccffie to my attenlKn'. whith gives me re•son•b uuse to belve tr1. In any maten•l respect, the requiremen to keep acc1nrj re¢tyds In adar wrth SeK 4411 I lal ol the 2Ch)5 A¢t Regulat 4 of the 20( A¢¢tyJnts Regulabfms to prepare fin•1 stsiements a¢cor¢l th the •cct)unling rectyds wd corn Regulalw 8 of the 20 ACC Regul•tK h•ve not been met" lo whth, In my opinicffj. attention ShId be drwm lydef lo en•L • proper urKl¢rst•ndkng of the financial stalernenls lo be rexhed. For anrl Henderson LcJgie LLP. Chartered Aeeojnlants The Buiklw. 20 Greenrket Dundee D014aB 16 Octobtr 2025 NESFEF SCIO xr25 pJF t&24Wlb3741WWth7•t28914•8kl 9 118
NES FE Foundatlon SCIO IA Scotthh Ch•rt¢•bl• Incorpof•t•d lknnlth) Total 2025 2024 14412 14.412 12.080 Total income 14.412 12.080 Exp•ndl¢ur•: 2,452 Tolal exp•ndltwè 2,452 Net incom• •nd n•t mov1 In 9.828 Fund• reconclll•tk)n: Trrtal funds al 28 Fe 2024 1.103.741 1.103,741 1,094.113 Total fund• at 28 February 2025 549.700 549,7 1.103,741
NES FE Foundation SCIO IA Scottlsh Charltable Incorporat•d Or8anlsatlonl 8alance sheet at 28 FebNary 2025 2025 2024 Note Current assets Cash at bank ar*d in hand 955,248 1.104.741 955,248 1,104.741 Current liabilities Sundry credrtors 1284.2851 11,0th)1 Net current assets 670,983 1,103.741 Credrtors Anints falling due after one year 1121.2831 Net asset¥ 549,700 1,103,741 The lunds of the chafity: Unreslrieted $49,71)0 1,103,741 The Mtes on paoe 10 to 15 fomi part of these financial slalemenlg. Apprt)ved by the Truste on 18 OCtoT 2025 aTrJ srd on its beham ty.. IIESFEF SCIOkn¥)JN8 2025 pdf16f624w1b374184.9267a914è88¢] P89• 11 118
NES FE Foundation SCIO IA Scottlsh Charttbl• Incorpot•t•d InI$¥t10D} Notss to the financial stat¢m¢nts Accounting pollcles 813 ol accounting and going ¥•Cern The financial statements ¥e wewed urrtler the historal ts)sl conventm and inclthje the resulis of the F¢XMMlati.S as wthated in the Rep(xt of the Tnths. all oflvhith are OtIng. The financial statements have been yepwed in acccrfdarKe with applKable accountiThJ starJards and Statement of Ree4)mmended Prxtice Accounting ReWrj by Charities, prepirKJ their financial Statements in ttdance wilh the FIn¢la1 Repjtrwj Standard 4Fplrable In the UK arbj Republic of Ireland {FRS1021 iss1 during 2019. the Charl1 aTrJ Trustee Investrnent Iscollandl Act 21X)S the CharbbM Ac¢owts {Scodandl Regulat$ 21yJ6 las amendedl. The FourAdation ¢tituteS a pu1¢ berfft entity as def by FRS102. The financial StateMts are eped n sttslwvJ. which i the fvn¢iKthl ¢wrerw of the Foundats. mtary arrnts in these financial stslements ¥e louTrd to the rthvest £. At the twne of •PPToving the ffinla1 statements. the Tru51ees have a r&inab expectati7 that the Fwndation has adequate resources lo continue in operab'cnal existence for the foreseeable firture. Thus the Trustees contsnue to adopt the nCeffl basi5 al atunrId in preparin9 the financial statements. The follth¥irvJ is a summary of the sJnifwt acixwb'ry pdicies adwted by Ihe Tn1•. InmI recognition D0ftat5. are recowised the Foundation has been notffj in wrrtbng of both the amount and setuemenl date. In the event that a datffi is sthj'ect to cnndrtions that require vel of Ferfomiance before Ihe Fwndation is ent'ued to the funds, the ncome Is deferred arKI not Tecognised until either t)Se ¢j•ti$ we fvlly met CY ftdfiknent of those ¢LditnS is whc4ty wrthin the ¢tr of the F¢)undation and it r probable that those will be lJlfilW in reFth'r•J period. Interest on fvnds held on deFty)sit is Ir4ed en rewvabk aThl the amcwnt be measured reliabty by Ihe FcAxMlation', thi% is ralty wi Tr)tsfiCa* of the hitefest paid c Payab by the bank. 10 NESFEF ScloAtr 2025.F¢Jll80240bW1b3T418M2&7•J28914th1 Py.. 12 116
NES FE Foundation SCIO IA Scottlsh chart¢ab Incwpty•t•d an1$•tOonI Notes to the financial slatem Accountinq policies (continwdl crnitling lo trsat expwJriwe. it is wobknle that a SetleJ wil be rtqiired Kl the arn(Yt ol obloation be measwed rehw. d govemance costs are alkled crf aFPJbd kn the apylcab expènditwe tathos. Debtors CaBh at bank Creditors and wovisions resutb'rKJ from a past event that vitll rybfy yes n the trSIer ol to a Ihyd paty ar#J the amount to settle the thlIgat Can be measwed (f estwnated rd•ty. Credrt(Ts arml 11
NES FE Foundation SCIO Financial inltrumènts The FouThaabcm orty has assets •¥J fin111 Wilrbes (l a kirKI that as bas subsequenty n$ed at ther setoeffent value. In the of the FCXNt10n's accrnj the Tnlstees ¥e rew¥ed to make Fund Struciwe of Fnancial kts"vths. In the SLitement of Finan(ial l£tsvits. fuThls ¥e ¢lassthed as eithef dorKrf or with thar aUltr le.g. by the restrbve cl an aFpeall. ccts al NES FE Fr%1akn Sc. 2025 24 14.412 12.080 14.412 12.080 12 NESFEF SCKI kiw•>)25.k**l0ffj24W1b314fj4-92&7•J2••14aW Py. 14 118
NES FE Foundation SCIO IA Scottlsh Charltabl• Incorpor•t•d Or8•nlsatloTrl Note to the financial statements {continuedl Expenditu 2025 2024 Grants awarded for Student ReeLds System and Mwkel Insyht to SUPM Curricuknm Planryng Supwl costs {see below} 566.457 2.452 568.453 2.452 All expenditie in tr was uNestricted. Support costs kKated as lolkm.. cl&bI• •upport Chawltablo 13ov•rn•nc• 2025 Tol•l 2025 2025 2024 2024 2024 Independent examinerfs lee Otsr fees paid to Jependent examiner 1.016 1.018 952 1,016 2.452 22Z Key Management No Tntst¢e received Temuneration expenses wi either ofthe yews erKled 2B Fe 2025. 13 NESFEF SUO 202$.l8248bW1b37447thl28g14•l Py.. 15 118
NES FE Foundation SCIO IA Swttlsh Ch•rlt•bl¢ Incorpor•t•d •no5•t10) Nol•s to the financid statements {o)ntinuedl 2025 X)24 Reconcili•tion of gr•Dts pay•lAe Creditors J¢ryd al 28 Febru 2024 CwnmNrnents made in year (r•Jte 31 Grants ld the ye 506,457 (161.9651 Creditora acuued at 28 Febnw 2025 404,492 Credltorn aclxwd at 28 Febnwy 2025 We payaAe as fdk rthin yew IrvAe S) After more than one year (nole 51 121.263 404,492 Cr•di 2025 2024 AnYAml tslliThJ within one year. Grants Imte 41 1.056 284.285 Amowrts falling due after one year. Grants IrK>ted 41 121.263 Related partie• Trustee East were al members of tr Bowd of Management of Ncylh e the year ended 2B Fe 2025. No donations were recepied in either of the years erthd 28 Fe 2025 from North Ea51 scoo Ce. however syants of £58e.45712024". £nill were awded. 14 NESFEF SCK)kfwts 2(QS.wA tW24WlbY7-1W7•j1Il&j P•p.' 18118
NE5 FE Foundation SCIO IA Scottlsh Charttbl• IrKorporat•d (•nI11(j Nots• to the finwKial •tatements {c(•ntinuedl Balance at 28 February 2024 Baknnce at in year in yr 2025 1.103,741 14.412 1588.4531 549.71)0 w¥¥rz 28 Februry 2023 yw i) year 2024 1.OB4.113 12.080 12.452) 1.103,741 15 NESFEF Att<Mts 2Q254d(W1lts3l4l7ty•4th1 P4•. 17 118