Charity Registration No. SCO49367 (Scotland)
THE AIRLIE MONUMENT PRESERVATION TRUST SCIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
The Right Honourable D J Ogilvy, Earl of Airlie Lady T K Ogilvy Mr W Hawes
Charity number (Scotland) SCO49367
Independent examiner
Robin Dandie CA 15 Academy Street Forfar United Kingdom DD8 2HA
THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 6 |
THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The trustees present their annual report and financial statements for the year ended 30 June 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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") 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)".
Objectives and activities
The charity's objects are the advancement of heritable, culture and education, through the preservation and maintenance of the Airlie Monument, Tulloch Hill, Kirriemuir and surrounding areas of built or natural heritage, and the promotion of access to, and knowledge and understanding of, the Airlie Monument and its history, context and importance, and of its artistic beauty and potential, and to promote its future use for the public benefit.
Achievements and performance
The charity was set up on 10 June 2019. The charity is yet to do any charity work.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s activities while consideration is given to ways in which additional funds may be raised. Due to the Covid 19 pandemic, the charity are still in the planning and set up stage of operations and have had no income during the period therefore are no reserves at the balance sheet date.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a Scottish Charitable Incorporated Organisation (SCIO) established in 2019 and is governed by its constitution.
The trustees who served during the year and up to the date of signature of the financial statements were: The Right Honourable D J Ogilvy, Earl of Airlie Lady T K Ogilvy Mr W Hawes
Trustees were appointed at the incorporation of the charity on 10 June 2019. The board review at the Annual Members' Meeting and decide whether additional Trustees need to be appointed. The board have confirmed the resignation of Ian Clark on 18th August 2022.
The trustees' report was approved by the Board of Trustees.
The Right Honourable D J Ogilvy, Earl of Airlie
Trustee
Date: 26 March 2026
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THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
I report on the financial statements of the charity for the year ended 30 June 2025, which are set out on pages 3 to 6.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.
Independent examiner's statement
In the course of my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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(ii) to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
have not been met; or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Use of our report
This report is made to the charity’s board of trustees, as a body, in accordance with the terms of engagement. My work has been undertaken to enable me to undertake an independent examination of the charity’s financial statements on behalf of the charity’s board of trustees and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s board of trustees as a body, for my work or for this report.
Robin Dandie CA
15 Academy Street Forfar DD8 2HA
United Kingdom
Dated: 26 March 2026
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THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2025
| Net income for the year/ Net movement in funds Reconciliation of Funds Fund balances at 1 July 2024 Fund balances at 30 June 2025 |
2025 £ - - - |
2024 £ - - |
|---|---|---|
| - |
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THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
BALANCE SHEET
AS AT 30 JUNE 2025
| 2025 £ The funds of the charity: Unrestricted funds The financial statements were approved by the Trustees on 26 March 2026. The Right Honourable D J Ogilvy, Earl of Airlie Trustee |
2024 £ £ - - |
£ - |
|---|---|---|
| - | ||
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THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1 Accounting policies
Charity information
The Airlie Monument Preservation Trust SCIO is a Scottish Charitable Incorporated Organisation (SCIO) domiciled in Scotland. The principal address is Airlie Estate Office, Airlie Castle, Airlie, By Kirriemuir, DG8 5NG.
1.1 Accounting convention
These financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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)".
The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity will be able to continue in existence for at least the next twelve months and they have not identified any material uncertainties about the charity's ability to continue. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Income
Income is recognised when the charity is entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure is accounted for on the accruals basis.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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THE AIRLIE MONUMENT PRESERVATION TRUST SCIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
3 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses, or had expenses paid on their behalf during the year.
4 Employees
There were no employees during the year.
5 Related party transactions
There were no disclosable related party transactions during the year.
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