Hillcrest Foundation (SCIO)
Trustees Report and Financial Statements
for the year ended 31 March 2025
Charity number SC049967

Hillcrest Foundation (SCIO)
Contents
Page
Reference a nd Administrative Details of the Charity, it5 Trustees and Advisers
Trustees, report
Independent auditor's report
Statement of f inancial activities
Balance sheet
io
Notes to the financial statements
11-22
The following pages do not form part of the statutory financial statements..
Charity Detailed Income and Expenditure Account and Summaries

Hillcrest Foundation (SCIO)
Reference and administratlve details of the charity• Its Trustees and advisers for the year ended 31
March 2025
Trustees
Company Secretary
Charity registered number
SC049967
Principal office
l Explorer Road
Dundee
Tayside
DD2 IEG
Auditor
CT Audit Limited
61 Dublin Street
Edinburgh
EH3 6NL

HiIlcrest Foundation (SCIO)
Trustees, report for the year ended 31 March 2025
The Trustees present their annual report together with the financial statements of the charity for the
year ended 31 March 2025.
Objectives and activities
The Hillcrest Foundation was established to support the communities Hillcrest work in, through money
received from Hillcrest and partner organisation5.
The Foundation's objectives are;
To contribute to wider, social, economic and environmental well-being.
To offer tra ining, ed LAcationa I, employment and recreational opportunities.
To create positive differences to the lives of other5.
To strengthen links between charitable organisations, community groups and individuals within
our areas of operation.
Our aim is to support applications from the geographical locations Hillcrest operates in and each
a pplicant must be able to demonstrate how their application/project reflects at least two of Hillcrest's
values.
Inclusion - we listen to other points of view, learn from best practice and engage with our customers
and communities as we recognise we are stronger and can contribute more if we have shared goa15 and
collective efforts,
Respect- we value our staff and customers and empower them in a positive way to participate, to adapt
and to be inspired to take ownership and make positive change.
Excellence- we are ambitious forwhat our organisation and customers can achieve and strive to deliver
the highest quality and value possible.
Innovatlon
we look for new ways of solving problems, strive for continuous reflection and
improvement and promote others to do the same.
Activities undertaken to achieve objectives
The charity achieves these objectives through providing funding to applications that demonstrate that
they reflect the Hillcrest Values and can quantify outcomes to reflect the Foundation's objectives. These
activities are funded through donations from within Hillcrest and from external organisations.

Hillcrest Foundation (SCIO)
Trustees, report {contlnued} for the year ended 31 March 2025
Review of activities
The Hillcrest Foundation was set up in February 2020 a5 a subsidièry of Hillcrest Homes (Scotland)
Limited to provide an opportunity to SUPPOrt external community initiatives and build on Hillcre5t's
Corporate Social Responsibility. The Foundation centralises fundraising. charitable donations and gift
aid within one place to streamline and centralise these activities. The Foundation will enable Hillcrest
to have a focused strategy for supporting communities, including tenants and service users to enhance
their lives by providing relief for those in financial hardship or other disadvantages.
During the year the Hillcrest Foundation awarded funding of £232,162 12024: £180,747) to fund
activities, advice Services and project5 that contribute to.
The prevention of relief or povertv
The advancement of health
The advancement of education
The advancement of citizenship or community development
The funding awarded in the year included £41,402 12024: £38,523) to Hillcrest Homes IScotland}
Limited, £56,770 12024: £24,511) to Hillcrest Futures Limited and £18,000 12024: Nil) to Hillcrest
Enterprises Limited.
In 2022-23,
and raise its profile.
as appointed as an Ambassador of the Foundation to help promote
Future actlvltles
In 2024-25 we awarded grant funding to external organisations in the communities across Hillcrest's
areas of operation and we hope to be able to continue to offer funding to external organisations in the
future. We also hope to increase external donations to the Foundation via community benefit clauses
through procurement across Hillcrest. We also hope to bid for specific grants or post of money
externally via the Foundation rather than rely on contributions generated through the Hillcrest group.
Investment pollcy and performance
At present, the Foundation has no investments.

Hillcrest Foundation (SCIO)
Trustees, report (continued) for the year ended 31 March 2025
Financial Review
Going Concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has
adequate resources to continue in operational existence for the foreseeable future. For this reason, they
continue to adopt the going concern basis in preparing the financial statements. Further details
regarding the adoption of the going concern basis can be found in the accounting policies.
Reserves policy
The trustees have established a policy for unrestricted reserves, the policy is to ma intain unrestricted
reserves at a level equating to the Charity's operating costs for the following financial year, excludinE
grant awards. The current level of unrestricted reserves is £74,864 and is considered adequate and in
line with this policy. The principal funding sources of the charity were Hillcrest Homes {Scotlandl
Limited, Hillcrest Maintenance Limited and Hillcrest Enterprises Limited.
Principal risks and uncertainties
The trustees have assessed the major risks to which the charity is exposed, in particular those relating
to the operations and finances of the charity and are satisfied that systems are in place to mitigate
exposure to the major risks. I nsurable risks are a ppropriately covered. The trustees take seriously the
duties a nd responsibilities placed upon them with regard to the protection of vulnerable groups.
The key risk faced by the charity is the award of funding to an external organisation that does not align
with Foundation's objectives or meet required criteria. Detailed due diligence checks and a
comprehensive review of all applications is completed, and strict criteria adhered to before awarding
grants.
The key financia I risk facing the Foundation is a reduction in the levels of income received to a Ilow grant
funding to external organisations. If the income levels were to reduce, the level of grants awarded would
red uce in line with this.
Structure• governance and management
Constitution
Hillcrest Foundation is a Scottish Charitable Incorporated OrEanisation, registered as a charity in
Scotland and of which Hillcrest Homes (Scotland) Limited is a controlling member. The trustees are
shown on page l. The trustees met during the year as necessary to administer the charity.
Methods of appointment or election of Trustees
The trustees were appointed in accordance with the Hillcrest group's procedures. The trustees have
the power to invest mon ies of the charity not immediately req uired for the purpose of its activities in
such investment and securities and to disp05e of and vary such investments and securities.

Hillcrest Foundation (SCIO)
Organisotionul strurture and decision-making policies
The trustees are responsible for the strate
ic direction of the charity. The operation of the charity is
Implemented by Hillcrest Homes.
Fundraising and Grants Officer for Hillcrest Homes is the
responsible officer for the Foundation. The charlty invites applications for new trustees. All new
trustees are briefed on the objectives and funding mechanisms of the charity. All trustees are
provided with information on charity governance.
Statement of Trustees Re5ponslbllltles
The trustees are responsible for preparing the Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally
Accepted Accounting Practicel.
The law applicable to 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 of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently
observe the methods and principles in the Charities SORP
make judgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed, subject to any departures
disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in operation
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 financial
statements comply with the Charities and Trustee Investment {Scotlandl Act 2005, the Charities
Accounts (Scotland) Regulations 2006 las arnended) and the provisiolls 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.
The trustees are responsible for the maintenance and integrity of the charity and financlal information
included on the Charity's website. Legislation in the United Kingdom governing the preparation and
dissemination of fina ncial statements may differ from legislation in other jurisdictions.
Approved by order of the members of the board of Trustees on 15 May 2025 and signed on their behalf
by:
Chairperson

Hillcrest Foundation (SCIO)
Independent auditor's report to the members of Hillcrest Foundation (SCIO)
Opinion
We have audited the fina ncia I statements of Hillcre5t Foundation (the 'cha rity'l for the year ended 31
March 2025 which comprise of the statement of financial activities, balance sheet, statement of
cashflows a nd notes to the f inancial 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 Standard 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the fina ncia I statements:
give a true and fair view of the state of the charity's affairs as at 31 March 2025, and of its
incoming resource5 and application of resources, for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
have been prepared in accordance with the requirements of the Charities and Trustee
Investment {Scotlandl Act 2005 and regulation 8 of the Charitie5 Accounts (Scotlandl
Regulations 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the a udit of the financial statements section of our report. We a re independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis
of accounting in the preparation of the f inancial statements is a ppropriate.
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 concern for a period of at leasttwelve months from when the financial statements
are authorised for issue.
Our responsibilities a nd the responsibilities of the trustees with respect to going concern a re described
in the relevant sections of this report
Other information
The trustees are responsible for the other information. The other information comprises the
information included in the trustees, annual report, other than the financial statements and our
auditor's report thereon. Our opinion on the financial statements does not cover the other information
and, except to the extent otherwise explicitly stated in our report, we do not express any form of
assurance conclusion thereon.

Hillcrest Foundation (SCIO)
In connection with our audit of the financial statements, our responsibility is to read the other
information a nd, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, 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 Accounts
(Scotlandl Regulations 2006 require 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.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the
preparation of f inancial statements which give a true and fair view, and for such internal control as the
trustees determine 15 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 concern, disclosing, as applicable, matters related to going concern and using the
Eoing concern basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed auditor under section 44lcl of the Charities and Trustee Investment {Scotland}
Act 2005 and report to you in accordance with regulations made under those Acts.
Our objectives are to obtain reasonable assurance about whether 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 with ISAS {UK} will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error a nd 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined a bove, to detect material misstatements in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below.
We gained an understanding of the legal and regulatory framework applicable to the charity and
considered the risk of acts by the charity which were contrary to the applicable laws and regulations,
including fraud.

HilIcrest Foiindation (SCIO)
Our audit procedure5 were designed to respond to risks of material misstatement in the financial
statements, recoEnisin8 that the risk of not detecting a material misstatement due to fraud is higher
than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by,
for example, forgery, misrepresentations or through collusion.
We focused on laws and regulations that could give rise to a material misstatement in the charity's
financia I statements. Our tests included, but were not lim ited to:
obtaining an understanding of the control environment in monitoring compliance with laws
and regulations,.
agreement of the financial statement disclosures to underlying supporting documentation,.
enquires of the senior management and trustees;
review of the board meetings throughout the period-
review of legal correspondence and invoices," and
review of manual adjustments made in coming to the financial statements to identify any
unusual adjustments.
Because of the inherent limitations of on audit, there is a risk that we will not detect all irregularities,
including those leading to a material misstatement in the financia I statements ornon-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be less likely to become aware
of instances of non-compliance. The risk is a Iso greater regarding irregularities occurring due to fraud
rather than error, as fraud involves intentional concealment, forgery, collusion, omission or
misrepresentation.
A further description of our responsibilitie5 for the audit of the financial statements is located on the
Financial Reporting Council's webslte at: www.frc.org.uk/auditorsresponsibilities. This description
forms part of our auditorfs report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Regulation 10 of the
Charities Accounts (Scotlandl Regulations 2006. Our audit work has been undertaken so that we might
State to the charity's trustees those matters we are required to state to them in an auditor's report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility
to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report,
or for the opinions we have formed.
Senior Statutory Auditor)
For and on behalf of CT Audit Llmited
Chartered Accountants & Statutory Auditor
61 Dublin Street
Edinburgh
EH3 6NL

Hillcrest Follndation (SCIO)
Statement of financial activities for the year ended 31 March 2025
2025
2025
Unrestricted Restricted
Funds
Funds
2025
2024
2024
Total Unrestricted Restricted
Funds
Funds
Funds
2024
Total
Funds
Note
Income
Donations and
legacies
Other trading
activities
Investments
211,137
1,016 212,153
145,164
145,164
11,120
11,120
2,057
2,057
1,932
1,932
Total income
224,314
1,016 225,330
147,096
147,096
Expenditure on
Raising funds
Charitable activities 516
2,580
232,162
2,580
232,162
4,986
186,055
4,986
186,055
Total expenditure
234,742
234,742
191,041
191,041
Net lexpenditure)/
income
110,4281
1,016
19,4121
{43,945}
143,9451
Net movement In
funds
(10,428)
1,016 {9,412)
{43,945}
{43,945)
ReconciSiation of
funds:
Total funds brought
forward
Transfers between
funds
Net movement in
funds
86,478
1,014
87,492
130,423
1,014
131,437
11,186)
1,186
110,4281
1,016 19,4121
143,9451
143,9451
Total funds carried
forward
74,864
3,216
78.080
86,478
1,014
87,492
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 22 form part of these financial statements.

Hillcrest Foundation (SCIO)
Balance sheet at 31 March 2025
2025
2024
Note
Current assets:
Debtors
Cash at bank and in hand
2,240
81,840
112,772
84,080
112,772
Creditors: Amounts falling due
within one year
{6,0001
(25,280)
Net current assets
78,080
87,492
Total assets less current Ilabilities
78,080
87,492
Total net assets
78.080
87,492
Charity Funds
Restricted funds
Unrestricted Funds
io
io
3,216
74,865
1,014
86,478
Total funds
io
78.080
87,492
The financial statements were approved and authorised for issue by the Trustees on 15 May 2025 and
ned on their
Chairperson
The notes on pages 11 to 22 form part of these accounts.
10

Hillcrest Foundation (SCIO)
Notes to the financial statements for the year ended 31 March 2025
(a) General information
Hillcrest Foundation ISCIOI is a Scott15h charitable incorporated organisation {charity number
SC049967), incorporated on 19 February 2020. The address of the registered office is given on
page l of these fina ncial statements. The financial statements a re prepared in sterling, which
is the functional currency of the charity. Monetary amounts in these financial statements are
rounded to the nearest £.
(b) Basis of preparation of financlal statements
The financial statements have been prepared in accordance with the Charities SORP {FRS
1021- 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 IFRS 1021 (effective l January 2019}, the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Charities and
Trustee Investment (Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006
las amended).
H illcrest Foundation1SCIOI meets the definition of a public benef it entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise
stated in the relevant accounting policy.
(c) Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of
income received for specific purposes but not expended during the year is shown in the relevant
funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation. Income tax recoverable in relation to investment
income is recognised at the time the investment income is receivable.
Other income is recognised in the year in which it Is receivable and to the extent the goods have
been provided or on completion of the service.
{d) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benef it to a third party, it is proba ble that a tra nsfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified
by activity. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in underta king each activity. Direct costs attributable to a single
activity are allocated directly to that activity.

Hillcrest Foundation (SCIO)
Notes to the financial statements (continued) for the year ended 31 March 2025
(d) Expenditure (continued)
Shared costs which contribute to more than one activity and support costs which are not
attributable to a single activity 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 allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which
further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the
offer is conditiona I, such grants being recognised as expenditure when the conditions attaching
are fulfilled. Grants offered subject to conditions which have not been met at the period end
are noted as a commitment but not accrued as expenditure.
(e) Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
(f) Liabilities and provisions
Lia bilities are recognised when there 15 an obligation at the Balance Sheet date as a result of a
past event, it is proba ble that a tra nsfer of economic benefit will be required in settlement, and
the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount
that the Charity anticipates it will pay to settle the debt or the amount it has received as
advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material, the provision is based on the present
va lue of those amounts, discounted at the pre-tax discount rate that reflects the risks specific
to the liability. The unwinding of the discount is recognised in the Statement of Financial
Activities as a fina nce cost.
(g} Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify a5 basic
financial instruments. Basic f inancial instruments are initia Ily recognised at transaction value
and subsequently measured at their settlement value with the exception of bank loans which
are subsequently measured at amortised cost using the effective interest method.
(h) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees
in furtherance of the general objectives of the Charity and which have not been designated for
other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed
by donors or which have been raised by the Charity for particular purposes. The costs of raising
and administering such funds are charged against the specific fund. The aim and use of each
restricted fund is set out in the notes to the financia I statements. Investment income, gains and
losses are allocated to the appropriate fund.
12

Hillcrest Foundation (SCIO)
Notes to the accounts (continued) for the year ended 31 March 2025
{1) Going Concern
At the time of approving the financial statements, the Trustees have a reasonable expectation
that the Charity has adequate resources to continue for the foreseeable future. Thus the
Trustees continue to adopt the going concern basis of accounting in preparing the financial
statements.
2 Income from donations and legacies
Unrestricted
funds
2025
Restricted Total funds
funds
2025
2025
Donations
Hillcrest Homes (Scotland) Limited
2024/25 donation
H illcrest Enterprises Limited
donations
Hillcrest Maintenance Limited
donations
Hillcrest Futures Limited
donations
Hillcrest Homes (Scotlandl Limited
staff donation
H illcrest Enterprises Limited
Hillcrest Maintenance Limited
10,000
10,000
staff
24
24
staff
48
48
staff
944
944
loo,000
50,000
100,000
50,000
2,192
External donations
External organisations
2,193
48,944
48 ,944
Total
211,137
145,164
1,016
13

Hillcrest Foundation (SCIO)
Notes to the accounts (continued) for the year ended 31 March 2025
2 Income from donations and legacies
(continued)
Unrestricted
funds
2024
Restricted Total funds
funds
2024
2024
Donations
H illcrest Home5 (Scotla ndl Limited
2023/24 donation
Hillcrest Enterprises Lim ited
donations
Hillcrest Maintenance Limited
donations
Hillcrest Fijtures Limited
donations
H illcrest Homes (Scotla ndl Limited
staff donation
Hillcrest Enterprises Lim ited
Hillcrest Maintenance Limited
10,000
10,000
staff
46
46
staff
66
66
staff
12
12
1,062
1,062
loo,000
10,000
loo,000
10,000
Gift Aid
External donations
External organisations
1,699
10,778
11,501
1,699
10,778
11,501
Total
145,164
145,164
Other trading activities Income
Unrestricted Unrestricted
funds
funds
2025
2024
Fundraising events
11,120
Investment Income
Unrestricted Unrestricted
funds
funds
2025
2024
Bank interest
2,057
1,932
14

Hillcrest Foundation (SCIO)
Notes to the accounts (continued) for the year ended 31 March 2025
Analysis of grants
Unrestricted
funds
2025
Restricted
funds
2025
Total funds
2025
Grants paid out
225,384
225,384
Analysis of grants
Unrestricted
funds
2024
Restricted
funds
2024
Total funds
2024
Grants paid out
180,747
180,747
The Charity has made the following grants to institutions which were for the following
community projects:
2025
2024
Unrestricted Grants
Hillcrest Homes (Scotlandl Limited - Starter Packs
Hillcrest Homes {ScotlandlLimited- Helping Households Fund
Hillcrest Homes (Scotland) Limited-Tenant hardship Fund
Hillcrest Homes (Scotlandl Lim ited
All other gra nts
individually under £10,000
15,000
10,000
10,000
6,402
17,500
21,023
Sub total- Hillcrest Homes (Scotland) Limited
41,402
38,523
Hillcrest Futures Limited- Community Connectors
Hillcrest Futures Limited - The Beacon
Hillcrest Futures Limited - Hillcrest Futures
Hillcrest Futures Limited - Activity Hub
H illcrest Futures Limited All other grants individually under
£10,000
20,000
10,000
10,000
10,000
6,770
24,511
Sub-total- Hillcrest Futures Limited
56,770
24,511
H illcrest Enterprises Limited - HELP
H illcre5t Enterprises Limited - Enterprises Social Wellbeing
8,000
10,000
Sub-total - Hillcrest Enterprises Limited
18,000
15

Hillcrest Foundation (SCIO)
Notes to the accounts (continued) for the year ended 31 March 2025
5 Analysis of Grants {continued)
Dundee Bairns & Help for Kids- Beds for Bairns
External organisations - All other grants individually below
£10,000
39,500
69,712
20,000
97,713
Sub-total- External organisations
Total
109 212
225,384
117 713
180,747
The grants were awarded to support projects as follows'.-
The prevention of relief or poverty
The advancement of health
The advancement of education
The advancement of citizenship or community development
All grants payable by the Foundation require to be spent within 12 months of being awarded or the
balance is repayable. Included in grants repayable analysis is £4,148 of grants awarded to projects
within Hillcrest homes which were returned and £3,165 of returned grants from Hillcrest Futures.
6 Direct costs
2025
2024
Governance Costs
Audit fee
6,720
5,280
Support Costs
Trustees expense5
Bank charges
18
40
29
6,778
5,309
16

Hillcrest Foundation (SCIO)
Notes to the accounts (contlnued) for the year ended 31 March 2025
Raising Funds
2025
2024
Kiltwalk costs
Banochry Beast costs
2,008
572
2,932
2,054
2,580
4,986
Auditor's remuneration
2025
2024
Fees payable to the Charity's auditor for the audit of
the Charity's annual accounts
6,720
5,280
Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits12024- nill.
During the year ended 31 March 2025, Trustee expenses of £1812024- £nill have been incurred.
io
Creditors
2025
2024
Amounts falling due within one year..
Accruals
6,000
25,280
6,000
25,280
17

Hillcrest Foundation (SCIO)
Notes to the accounts (continued) for the year ended 31 March 2025
li
Reserves
Balance at
l April
2024
Balance at
31 March
2025
Income
Expenditure
Transfer
Unrestricted
Restricted - Staff
donations
86,478
1,014
224,314
1,016
{234,742)
11, 1861
1,186
74,864
3,216
Total funds
87,492
225,330
236,982
78,080
Balance at
l April
2023
Balance at
31 March
2024
Income
Expenditure
Unrestricted
Restricted - Staff
donations
130,423
1,014
147,096
1191,0411
86,478
1,014
Total funds
131,437
147,096
{191,041)
87,492
Transfer of funds from unrestricted to restricted for staff donations made in the prior year.
Name of unrestricted fund
Unrestricted Fund
Description, nature & purpose of the fund
Are expendable at the discretion of the Trustees in
furtherance of the objects of H illcrest Foundation.
Restricted Fund - Staff
donations
Donations from Hillcre5t staff members to be awarded to
external charities.
12
Analysis of net assets between funds- current year
Unrestricted
Restricted
Total
Cash at bank and in hand
Debtors
Creditors due within one year
80,826
2,240
(6,000)
1,014
81,840
2,240
{6,0001
Total
77,066
1,014
78,080
18

Hillcrest Foundation (SCIO)
Notes to the accounts (continued) for the year ended 31 March 2025
13 Analys15 of net assets between funds- prlor year
Unrestricted
Restrlcted
Total
Cash at bank and in hand
Debtors
Creditors due within one year
111,758
1,014
112,772
(25,280)
(25,2801
Total
86,478
1,014
87.492
14
Ultlmate controlllng Interest
The controlling member is Hillcrest Homes (Scotlandl Limited, incorporated in the United
Kingdom, (registration no. 1603 R{S)l and a registered Scottish charity Ino SC0068091. Copies
of the Eroup financial Statements can be obtained from l Explorer Road, Dundee, DD2 IEG.
Hillcrest Homes Iscotlandl Limited is a Registered Social Land lord. The principal activities of the
Group are the provision of high-quality rented accommodation at affordable rents for those in
housing need and the provision of care and support services for those in need due to age,
Infirmity, dis3 bility or handicap.
15
Financial instruments
2025
2024
Financial asset5
Financial assets measured at fair value through income and
expenditure
81,840
112,772
Financial assets measured at fair value through income and expenditure comprise of bank can
cash held in hand.
16
Related party transactions
The board of trustees were made up of 5 members over the year which are connected to other
Hillcrest Group companies and organisations. Below is a table which sets out any connections
the current trustees have.
Hillcrest Ma intenance Limited - Director
Hillcrest Futures Limited - Director
Hillcrest Homes Limited Director
Hillcrest Enterprises Limited - Director
Hillcrest Homes Limited Employee
19

Hillcrest Foundation (SCIO)
Notes to the accounts {continued) for the year ended 31 March 2025
16
Related parties (continued)
Trustees are required to complete an annual declaration of interest form and at the start of all
meetings and declarations of interest should be made.
There are no employees within the company. The Trustees are the key management personnel
who make the day to day decisions.
During the period the charity received donations from connected Hillcrest Group companies
and organisations. These are set out in the table below. These donations were agreed by the
relevant board members and all transactions were considered to be at arms length.
2025
2024
Hillcrest Homes (Scotla nd) Limited
Hillcrest Maintenance Limited
Hillcrest Futures Limited
Hillcrest Enterprises Lim ited
10,944
50,048
11,062
10,066
12
100 046
121,186
100 024
161,016
H illcrest Enterprises Limited, Hillcrest Maintena nce Limited and Hillcrest Futures Limited are all
subsidiaries of Hillcrest Homes1Scotlandl Limited.
H illcrest Homes IScotland} Limited is the controlling member of the charity.
Further to donations being received donations were made from the charity back to several
group companies/orga nisations to aid projects. Applications for the gra nts were made in line
with the charities policies and these were discussed at a board meeting where projects were
approved. All the projects are detailed in note 4. Below is a summary of the total grants that
were paid to each organisation.
2025
2024
Hillcrest Homes (Scotlandl Limited
H illcrest Enterprises Limited
Hillcrest Futures Limited
41,402
18,000
38,523
116,172
63,034
20

Hillcrest Foundation (SCIO)
The following page does not form part of the statutory accounts.
Income and expenditure account for the year ended 31 March 2025
Year to
31 March
2025
Period to
31 March
2024
Income
Donations and legacies
Fundra ising
Interest received
211,137
11,120
2,057
145,164
1,932
Gross income in the reporting year
225,330
147,096
Less:
Expenditure
Audit fee
Trustees expenses
Bank charge
Miscellaneous expenses
Grants paid out
6,720
18
40
2,580
225,384
5,280
29
4,985
180,747
Total Expenditure
234,742
191,041
Net income for the reporting year
(10,428)
{43,945)
Surplus/{loss) for the reporting year and
carried forward
(10,428)
(43,945)
The notes on pages 11 to 21 form part of these financial statements.
21