NES FE Foundation SCIO IA Scotti¥h Charitable Incorp￿￿ed OrganlB•tion) Annual report and financial statements for the year to 28 February 2025 Scottlsh tharity refeRnce: SC044635 NESFEF SCIO 2025wl8ffj248￿1ts374f81-g2￿Ith12•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$F#X￿tslll Indèrththnt eX￿￿￿'S rep(xt statemerrt offinara xtiwties Balance sheel 10-15 NESFEF 8CIO 2o25.Fdi8ffj248￿1b274ftm￿￿7wJ2•g11•OkI Py.. 2 118 NES FE Foundatlon SCIO IA Scottlsh Ch•rftabl• Inc¢rpow•t•d OrwthtboThl TN•te•• TrwuT•f Principal •ddre•g NES FE SCIO 8wrrts pa￿ LLP 1 Vfyrnl 10 1DQ Prlnclwl b•Trk•f• 1 <)wens Cr￿3 *BI54XU 8ollcllor• s pa￿ LLP UnKm Plua 1 UnKffj ABIO IDQ D014QB Ch•rty No NES FE Foundation SCIO Report of the Trwtees lor the Ye￿ 28 Fetrfw 2025 ac¢￿tIl9 pc4KitiJ set ¢￿rt the financ￿1 stslements cfyiwy ￿￿th Ihe F{Xr￿'S ISco#andl Regui*crn 2008 las ¥nerwJedl ar•J RepLY¢ry by Ch•nbes.' Statemwrt Fr￿￿la1 Re[￿*¥d Starmlard li Ihe UK aThl RepJtAK al Irel¥￿ wknltshed O*èef 2019. The charity *)fomth ￿1 (Mrt ffj p•Je 11(rn al this feF•XI. FrAThJakn lo swve as Trustees the NES FE FrAr¥jab￿ c¥ne it> b•r4J was Ic* a SI￿dent Re¢￿d Syskni the WCfThJ a Mwketsw IrA￿ts to siwtyt C￿*>￿￿n Tr* TnL%tees continue to M￿lIar Ihe ¢￿sIrtUtiC￿. polkies and proCe(￿re$ h•ve effective structtle to th to lo wth njes and reyJlatKrn ￿ ch¥rt￿ Fn)m the 1cfftial￿ ol FthXK1*tM￿ the Tntststt. wth the assisLw cl pr￿SlOn•1 advigers, deW.￿d an Invesbrtht Polw to salegu¥d the fwmls c 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 I￿nted ty themse￿￿. Any TnBte• h•$ s¢Th¢d for a lemi of trne years rr￿1 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 philosophi￿1 approach of the Foundatson. A new Tntslee would receive copies ol the previ￿9 ye•r'g financi•l st•t•ments, minutes of Tn*teeJ meetsrvp and a Copy of the OSCR Se•fièt'Guid￿e ar￿ gO￿j practice for Chaty TnMt*ts' 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 di￿101• all le￿¥•nI inlerests and n •ccud•nc¢ wllh thè Tntsfs p NESFEF SQO 2025.rAYIen248￿lts374￿l-92&r￿l2a9l4th1 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 edu￿11￿, in p¥tsgJlw kn enhvKe the lewniTrJ eXPer￿￿e SI￿ts eThJaqed in fwtr*r ed￿at￿l m Abefdeen and Abefdeensh're, by siypJ1KwJ'. (al the ddwery ol kryoved teaC￿Tra acoynmodatiw. fac￿rt￿ or •qu*wl Ibl the development of teaching materials aniv 1¢) the delivwy of cowsej." Fin•nci•l p￿11•0￿ The rejutts for thè yw w• shown In the attad￿d Ststwnwt of Fh•nciil Athit*s Bal¥AKX Sheet fr* ￿•1 kj 28 F¢￿U￿Y 2025. InvMtm•nt pollcy NES FE F￿nd•t￿l •¢•k• to produL¥3 the bMI fin•￿1￿ wlthh In •w••d knv•l ol dyr•Jent on ￿•n •[• lor•c••t lo be d11b￿￿d. 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 Ft￿r￿lItitin. 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 mit￿lled by ensurlng Ill lundiTrJ reque¥ts b?ing rewewed by the Truglees Pr￿ to ¥ny award belw m•d•. RM•rve• Ch￿lable purposes. Al the yèw eThl, reMNe* *mcAmtsd lo £549.700. (2024.. £1.103.7411. NESFEF kr4xY*¥ 2025p* tth248b&1b3740￿￿7eA•2O9I14￿￿ Pa9D'. 8118 NES FE Foundation SCIO IA Scott15h Charltable Incorpor•l•d Or8•nI￿ls0nj Report of the Trustees for the year 28 February 2025 Icontinuedl Future strategy No th•nge$ are al pre8enl envtsaoed ffi the F￿nda￿On'3 as ouyined ab)ve. Connected bodies The Tru51ee East S￿lIan ege finan¢ial ststemenls an ere aLw members of the Boar(l of Managemenl ol Ntrth uring Ine year. Tran5acIK￿S Wrth the C￿lege 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 [81624W1b3741B￿2wT•￿gI448B4 Pffj• 7 118 NES FE Foundatlon SCIO IA Stottlsh Chartt•bl• Incorpor•t•d I￿￿1$•t10Th) Gernrally A£cepled Ace¢AmtirKJ Pr*ictl e*h 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 tt￿e rmancial statements, the Trustees are rew*ed 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 (scol￿dI Regulat￿3 las aMe￿Ied) 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•nI￿lI0￿l Rewl of the Indepenthnt Examlner lo the Trustees of NES FE Foundation I rer*Yt on the finanrA* staleir*nts 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 rer*Nt ry opnIc￿ set out bekN and fw no ot purF*)se. To the I￿les¢ exlenl pemthed ty I￿ I do noi ￿t or a5swnE ￿e¥￿s￿lIrtY lo ary* othev than Ihe Trustees. as a t*)dy, for my wo(k thts reFK)rt. Re5￿ClIve respon*ibililies of the Trustees arrtl Examiner The charty's Trustees are reSpr￿%1￿e lor the pTepw•lH￿ of tr* fiTr•w•l statements In •cc*yd•nce wrth the lemis of Ihe Chanbes aTrd Trustee Investmerrt Ise¢*l*ndl Acl 2Crf)S arrtl the Charrt>es P¢o)wls Iscottandl Regulat￿nS 2rth las •mendedl. The ch•rrty's Tntstees ¢Crn￿er that tt* •udrt rewirement of Re9ulakn 10(11 lal to lel ol the 2C()6 Acwits Rew141￿15 doe5 rK￿ wppty. ￿ h my resp)nsib'lty to examffte the fin￿41 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 St*tement My eumffjat￿ Is oul In xc4rd•rtt ReWkntX￿ 11 of the 2CTh *£C￿nts Regulatsh. An exarnlnallG￿ Ind￿je5 a rewew ol the x¢¢MthlirYJ fectyds kept by Ch•r￿ arKI a C￿￿11S0n trf Ihe fina￿1* sIalen￿nIS presented wrth those rec(Y¢ts. 11 •lso rtudes (g￿$￿r•b(￿ ol any wusu•l or disdosurej In the fin•nual slat¢ff￿nts, arKI seeks ex￿*￿￿On5 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 O￿n￿ on the given by the fi￿ne￿I slalements. Indepenthnt Examiner'j Statsmerf In the ￿￿￿)e al my eXwnW￿1￿. no m•tlei has ccffie to my attenlKn'. whith gives me re•son•b* uuse to bel*ve tr￿1. In any maten•l respect, the requiremen to keep acc￿1n￿r￿j re¢tyds In a￿dar￿ wrth Se￿K￿ 4411 I lal ol the 2Ch)5 A¢t Regulat￿ 4 of the 20(* A¢¢tyJnts Regulabfms to prepare fi￿n￿•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 Sh￿Id be drwm lydef lo en•L* • proper urKl¢rst•ndkng of the financial stalernenls lo be rexhed. For anrl Henderson Lc*Jgie LLP. Chartered Aeeojnlants The Buiklw. 20 Green￿rket 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 mov￿1 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 An￿ints falling due after one year 1121.2831 Net asset¥ 549,700 1,103,741 The lunds of the chafity: Unreslrieted $49,71)0 1,103,741 The Mtes on paoe 10 to 15 fomi part of these financial slalemenlg. Apprt)ved by the Truste￿ on 18 OCto￿T 2025 aTrJ s￿r￿d on its beham ty.. IIESFEF SCIOkn¥)JN8 2025 pdf16f624w1b374184.926￿7￿a914è88¢] P89• 11 118 NES FE Foundation SCIO IA Scottlsh Chartt*bl• Incorpot•t•d I￿*nI$¥t10D} Notss to the financial stat¢m¢nts Accounting pollcles 8￿13 ol accounting and going ￿¥•Cern The financial statements ¥e wewed urrtler the histor￿al ts)sl conventm and inclthje the resulis of the F¢XMMlati￿.S as wthated in the Rep(xt of the Tnths. all oflvhith are O￿tI￿ng. The financial statements have been yepwed in acccrfdarKe with applKable accountiThJ star*Jards and Statement of Ree4)mmended Prxtice Accounting ReW￿r￿j by Charities, prep*irKJ their financial Statements in ￿tt￿dance wilh the FI￿n¢la1 Repjtrwj Standard 4Fplrable In the UK arbj Republic of Ireland {FRS1021 iss￿1 during 2019. the Charl1￿ aTrJ Trustee Investrnent Iscollandl Act 21X)S the CharbbM Ac¢owts {Scodandl Regulat￿$ 21yJ6 las amendedl. The FourAdation ¢￿tituteS a pu￿1¢ ber*fft entity as def￿￿ by FRS102. The financial StateM￿ts are ￿￿ep￿ed n sttslwvJ. which i* the fvn¢iKthl ¢wrerw of the Foundats￿. m￿tary arr￿nts in these financial stslements ¥e louTr￿d to the rthvest £. At the twne of •PPToving the ffin￿la1 statements. the Tru51ees have a r&￿inab￿ expectati￿7 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 atu￿n￿rId in preparin9 the financial statements. The follth¥irvJ is a summary of the s*Jnifwt acixwb'ry pdicies adwted by Ihe Tn￿1•￿. In￿mI recognition D0ftat￿￿5. are recowised the Foundation has been notffj￿ in wrrtbng of both the amount and setuemenl date. In the event that a d￿at￿ffi 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 ¢L￿dit￿nS 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 Ir￿4￿￿ed ￿en rewvabk aThl the amcwnt ￿ be measured reliabty by Ihe FcAxMlation', thi% is r￿alty wi Tr)tsfiCa*￿ of the hitefest paid c Payab￿ by the bank. 10 NESFEF ScloA￿￿tr 2025.F¢Jll80240bW1b3T418M2&7•J28914th1 Py.. 12 116 NES FE Foundation SCIO IA Scottlsh chart¢ab￿ Incwpty•t•d ￿an1$•tOonI Notes to the financial slatem Accountinq policies (continwdl crnitling lo trsat expw*Jriwe. it is wobknle that a SetleJ￿ wil be rtqiired Kl the arn(Y￿t ol obloation ￿ be measwed rehw. d govemance costs are alk￿led crf aFPJb￿￿d kn the apylcab* expènditwe t*athos. Debtors CaBh at bank Creditors and wovisions resutb'rKJ from a past event that vitll ry￿bfy yes￿ n the tr￿SIer ol to a Ihyd paty ar#J the amount to settle the thlIgat￿ Can be measwed (f estwnated rd*•ty. Credrt(Ts arml 11 NES FE Foundation SCIO Financial inltrumènts The FouThaabcm orty has assets •¥J fin￿111 Wilrbes (l a kirKI that as bas subsequenty n￿$￿ed at ther setoeffent value. In the of the FCXN￿t10n's accr￿n￿￿j the Tnlstees ¥e rew¥ed to make Fund Struciwe of Fnancial kts"vths. In the SLitement of Finan(ial l£tsvit*s. fuThls ¥e ¢lassthed as eithef dorKrf or with thar aUltr￿ le.g. by the restr*bve cl an aFpeall. c*cts 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 ReeL*ds System and Mwkel Insyht to SUPM Curricuknm Planryng Supwl costs {see below} 566.457 2.452 568.453 2.452 All expenditi*e in tr* was uNestricted. Support costs kKated as lolkm.. c￿l￿&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$.￿l8￿248bW1b374￿4￿7thl28g14•￿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¢ry￿d 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￿ C￿￿e. however syants of £58e.45712024". £nill were aw*ded. 14 NESFEF SCK)kfwts 2(QS.wA tW24WlbY7-1W￿7•j￿1Il&￿j P•p.' 18118 NE5 FE Foundation SCIO IA Scottlsh Chartt*bl• IrKorporat•d (￿•nI￿11(￿j Nots• to the finwKial •tatements {c(•ntinuedl Balance at 28 February 2024 Baknnce at in year in y￿r 2025 1.103,741 14.412 1588.4531 549.71)0 w¥¥rz 28 Febru*ry 2023 yw i) year 2024 1.OB4.113 12.080 12.452) 1.103,741 15 NESFEF Att