The General ADdersonTrust Ctharity No. SCI)50117 TTUStee's Report and Audb*d A¢Lwnts The GenÈral AndersonTrust Contents Pages Trustee's Annual Report 2to9 Audltorts Report IOto13 Statement of Financial Activittes 14 Balance Sheet Statement of Cash flows 16 Notes to the Accounts 17to25 Page I TheGeneral AndersonTntst Trustees Annual Refv Report ofthe Thst•es The flnanclal statements have been prepared In accordan￿ with the aLwJntin8 Stt out In note I to the ftnancial ststements and cornply with theTn￿￿5 go¥emlng docuffEnt, the Charrkne5 and Trustee Investsrent (Scotlandl Aa 2(1)5, the(haritiesAcci>unts Iscotlandl Regulatkns 2(K1618s arnendedl and'Accountingand Reporting by Charit￿5.. Ststement f Recommended Practlce app1kab￿ to tharitles pre￿ring thelr accounts in accordan￿ with the FIna￿la1 Reporttng Yandard appfiable in the UK and RepubfK of Ireland (FR$ 1021 leffecthe IJanu￿Y2O19)'. OBIECTIVESAND AcrNIT￿5 The Charltable Purposes of The General Anderson Trust Isaoi are.. I, to provide, opèrdte and malntaln a home known as 'Ab)derson's Care Hom¥ for thp bpnefft of Indi￿d￿a￿ and their carers partl¢ular61 Ibut not exclusively) ￿$￿dent1nthefMr 8urghof Elwn lthe"Area"}whoare in need of care by reason of age.. 2. to advancethe well-belng and allevlate the sodal Isokition ()f iDdNtduals who are resldentat hmderson's Care Home andlor resident In the Area by deliveringactivrbts and projetts the A￿. 3. to provlde transport faclllttes forthe eldethi. infirm. persons with dlsabilitiesi y(￿ne people (for educational or recreatlonal purp05esl or5uth thr persons as the TTu5tees may deem in need: and 4. to work wlth andlor support othèr ￿ganiSatIOrts and charitle5 With 5imikir objectwe5. TheTrust was fomed and the HDme bulkfdlow8 thedèath o terms of hil Wlll and Trusi Deed. In accordancewlth the In Its orlginal lorn thescheme Tr Elgin Inttl￿￿OnfOrthesuppttrto1 Old &geand Education ofyouth" Included a 5th001 of Industry and a Free School for children whose parents could not afford to malntaln and supwrt them. opened in 1832 and continues to occupy the origlnal premises. now regarded as one of the arch￿ett￿ra1lY IcategE)ry A li51edl and hi5tt1rically notable buikJin85 in Elgln. At a later date, a large maTLsion within the grouTrds, Easton Houye, was dona1ed to the Trust. The Trustee5, and thelr management teaTn. are Tespon51ble for the maintenanct of both bulldln85 and Adult Sodal Resldential ￿re Is prn￿ded in both. ACHIEVEMENTS AND PERFORMAPKE As a Homo providlng care and supty)¢ Anderson% requlresto be re8iStered andto meet defined stsndardssetoutwithin ststutory Regulation. The Regulation of ca￿ Iscotlandl Att 2001 alg) &Abltshed the ca￿ Inspectorate to In5P&t and re￿rt orl cx>mpliance wth the National Care Standards- indud1￿ the buildlng and envlmnment, managemen¢ stafflng lincluding approprlats stsff ratios and qu21rfir3tk>nsl. traInI￿ arrangonents, care ar￿ support artlvity. rlghts of reslden The Care Inspettornte (ai visitèd on 12th March 2024 as a follow uptothe Ir6pectlon thattr)ok plBte on 20th SÈptember 2023. The check included ensurln8 thatAnder50n's had made changestothefalls pc*lKyto meetihe Cl requiTements aDd thal the Ser￿¢e Improvement plan vras in place. The a were assured there wère no particular concern5 and that all the necessary Tegulatory outcomes and arrange￿￿nts werè in ￿a[￿. com5￿Uent￿. uslng the Scrutiny As5e55mEnt Tool ISAn th* Care Inspector*e rated Anderson's as low rfsk The quality of care and *tention b) detsil. rENetttn8 the dedlcatlon of managemenr and staff. remains at a hish level. Ander50n's ￿ntInueS tt) be a preferred Care home cholcE for many elwble resident5. Page 2 The*Genernl AndersonTru5t Tnlstees Annual Report ANANCIAL REVIEW Nnanclal posStlon Total funds hèld by the Trust con515ted of unre5trftted general fvnds of £2,364.116, and restricted fund% of £5,655. The total of unrestrltted genL¥al funds mentio[￿d Includes trnb￿bIe fixed assets of £1.949,450. The r¢venue account thls year reports a defidt of£3L483 after accountlngfor non-cash flepreCIa￿Qn of £91,726 Interest received from bank accounts was £24,419. The O￿at[onal Sncome Wd5 affected by the ¢xcupancy leve15achieved durin8the yeargeneratin8 Resldents, Fees ofaB63,363. Ocojpancy levek flu(knatethrOU￿tsUtthe¥ear and the Trust seeks to operate on the basis of between 95% and 9PA 13paclty. The ratio of prNate residents to Council funded ￿sIdentsa15o varie5 but on avera8eis between 3V33 wlvate re5Klents and 18119 c(MAndl funded residents. There continued to be si4nificant repair and malntenance costs of £80,180. Costs contlnue tu be carefully controlled. We believe we have set ourown high stsndards and wll have ocrupancy levels commensurate wlth staffing. We are requlred by the Scottish Govern￿￿nt to pay all care staff the Scottish Llvlng Wa8e or more. PayToII contlnued to acwunt forthe bulk of ourexpendtture at over 79% of our residents. fees, The future Local Author￿ funding p051tM)n. ￿sU1bn8 from na￿Onal Government spending rethrtions, Is the maln rlsk and uncèrtalnty fa￿￿8 the Trust golng fonAtard and in part1rjJ￿r the projerted i￿reaSe in the Employers National Insurance Contrlbthion. COSLA have announced an increase of 6 % of fundlng support for residents In 2025. The rates for self-funded residents were increased durfng thè year to refiect energy. stsffin& Insurance, caterlng and maintenance costs and the stafftng levets adopted to meet the current needs of our residents. The Tru5tee5 continually assess the major rlsks to whlth the Trust is Èxposed, and as far as rea50nabty prartiobie. are sati￿￿ that systems ère In Pla￿ to mltigate exposure to these major risks. The Board of Tru5tee5 meet every sewnd month. and addttionally If required, revlewin8the financlal performance and other management rlsksthatAndersorfs must recogni5e. Oc￿pan(¥, bwng a comblr¢atM)n of prNate and councll funded resldents, will always be a rnattef to be awarè of and, given (yjr chaTitsblè statsjs. we acknowledge the need to SUPPOrt all appllcatlons for re51dency where we are able. We havè a very supportlve and loyal stsff and we know that satisfying theirrequlrements and thosÈ ofthe LocalAuthorttyaTeimportant. Thp monthty w￿0fManagernefrt accountsenhbles the Finance Sutr¢ommitteeto quid(ly reattto varfance5from the projected bud8ets, 5etannUaI￿1USt afterourye3r end. This control. managed IA partnershlp wth our Horne Man4er and her staff. we see as a strength, and reduce5 Ihe Tisk of exposure that we could experience. A planned Maintenan￿ pr¢)grdmme 15 ongolng as we use available rÈstsurces to ensure the bulldin85 wè own are maintained in 8ood or(kn. The Trustees will deslBnate resources as and when appryear stratswc pian forAnderson's include a programme of room upgrades to make as many as po55ible fully en-sufte. SIRUCTUR¢ GOVERNANCEAND MANAGEM Gownlng document The General Anderson Trust operate5 a5 Ander50n's CarÈ Homeand 15 Constitirt￿ as a Scottlsh Charftable Incorporated Organisation Iscio). Additwjnal Purpose {(Iblect) In September 2023. th£ Laich of Moray Trust ILoMll approathed the General Anderson Trust (GAT) with an offer to transfer their assets to GAT. The LOMT had been operating for over 40 year5 and the a55et5 comprised I minibus and funds.The TNstee5 carefullytonsldered thi5 offeras re5Klertts of Anderson's are ￿gUlar users of the bu5. Without atCÉS5 tr) thi5 faclltty, residents would not be able to enTr)y their vtslts to k)catiOns and venue5 around Moray whlch would have had a ¢on51derable negatlve Impact on their athity chokes and their wellbelng. In addltion, as ￿ is an objectlve of GAT to work with andlor support other OTKdnisations and chaiTties wlth slmilar objectives, trustees ntsted that organlsatlon5 supported by LOMT would also lose out If the resource was wthdrawn. Consequently, the GAT trustees unanlmously voted to accept the offer from LOMT. Advlse wa5 sought from OSIJ¢ on the prttedure required to enab￿thlS traTr5fer to take place. Appll¢ation to change thè constitutlon was made In April 2024 and was subsequendy approved by OSCR. The add￿lonal purpose lobjectl a5 per Objects ActlvttSe5 States: 'to provlde transport fa¢illtles for the eldedy. Infirni. ￿sOnS wth dsabllities. young people Ifor educatlonal or recreational purposes) or such other persons as the T￿￿tee5 may deem in nee￿. Volunteer drfvers have been integratrd into the oper*lonal and management arrangemènts of The General Anderson Trust which now provides transporttothesame local 8roupSthatwe￿ supported by LOMT includlng.. North East Sensory Services, Church Groups. Lunch Clubs, Other CarÈ Hornes and Anderson's residents. Page 4 TheGeneral AndersonTrust Trustees Annu81 Report Re¢rLSltment and Appointment of New Tr￿ee5 In the event of recrultment and appolntment of newtru5tee5. thÈ ethng board15 perniltted to 5LWSt names of potential new trustees. In addition. the kthrd can adverti5efor pr05pethetrusteeswith specific skills. In order to FamllSarlse themselves with the actfvStle5 of thetrLtsL all prospective trustees receNe an Inducbon pack containlng background informatlon about the trusL a copyof the constttution, a ¢opyof the annual busines5 and adlon plan and the recent min￿eS of meetlngs. Prospettive tTUStees are Invited to attend a trustees board rneeting $0 they an galn an ins18ht into howthe trust operates. Follo%￿r￿a attendance atthe board meetin& If the prospertlve tnjstee nd current trustees agree that arranBements will 5atlsfy both partles. then the prospectfve trustee 15 invlted to l()in thè board of trustees. Member5hlp Isformally recordÈd in thè minuteof thefollowirqtrustees meetln8. lknnis*ional strwtsre The Trust is managed by a Board of 15 volunteer Trustees (curren￿V 9 as at ye3r end 20241 whose role15 to ensure compllance with legal, financlal. health and other regulation5 aNI tgassume oversight of all aspects of the operatlon. The Care Home Manager, supported by a small senior management team. 15 respon5ibleto the board for day to day operatlons. Trustees are drawn from the I￿al communlty and have a ￿de rdnBe ofskllls and expertise In the followlng areas.. • Legal • Medical • National Health SeTYiQ Management . Accountsncy. Banking and Hnan . Voluntsry settor indudlng soaal enterprise Ministry • Local Government Property manaBement strategic management and pL3nninB Business administratlon . Commt55loninB The Board meets blqmonthly and ￿ attL￿n￿bIet0the5wttlSh Chartties Commi55ioftfor Its stewardship of the slzeable budget required to eonduct the buSin￿Of maintalning and ruThnN￿8 modern residential carp home for the elderly. There aTe threesub Committee5', l. Flnan 2. PropeTty & Mainten4wKe 3. Human Resources Each has an eypertenced ChaiTpetson who rEports tothe Board.Trustees are altocated to each committee based on their experIeN￿ and knowledge. These committees meet monthty and the Chair ofthe board wlll also attend. Flnance and Property & Maintenance subses In p￿te that support the needs of r&TdÈnts as wdl as ensurlng efficlent day to day 7. Is a 8ood plao to work wlth a p051ti¥e ènd cadng culture and environmert 8. Is open and outgolng enga8in8 Wbth the wder cDThnunity. Mana8ernent Re5POll51bility for day-to4oy management of theTnJ5t is delegated tothe Home Manager. supported by the Ass15tarft Managèr who oversees dalty ￿￿￿tIeS and make dedslon5 reaardlng the general opÈraiion of theTrust. The fv4anagèr15 superyised by and an5V4Erzble tothè Boaré of Trustees. The Current Home ManagEr I The remuneratlon of key rnanagement personnel 15 ￿ld¢￿ bythe Trustees and b In line ￿ryth ma-. ket expect3ticns for the role b￿nE performed. The remuneratDn pHid refiects the level of expertence and q￿lE[Icat￿)nS held. TheTrusteE5 hove paid due Te8ard to gU￿an￿ i55ued byOSCR in deddlng ¥that actMVestheTnJst sh(xJld undertake. RethTanb#th) A reorganlsatlon of 5taffinB Wa5 Irnplernented In Ottober 2023. This Induded theapwntment of a part-tlme ￿$1$18nt malla￿r, a part-time catè admln15trètor and a dwnge of Ilne Managementfi￿50mÉ Inadd￿lOn. somesenlorposts wère redeslgnated to reflect more accurately the rèswnslbllttles held. Rlsk mana8Rn*nt The trustees have a dutyto idÈnilfyand wewthe rtsk5 to whlch the 5a0 15 expl￿£ and toensure apprepriate tontrols are in Pla￿ to provide reasonable assurance agalnst frnud and error. Page 6 The Ge￿ra1 AndersonTFust Trustees Annual Report Trustees Audltors The General Anderson Trust aEreES ap￿ntsrt of AudIt￿S at th￿r annual rnem￿rs nwting eath year and wlll seek tsnders foT audltlng seThlces norn￿1￿ fftrythreeyear5. Millet Arwuntants Ltfj, has bÈen appolnted as ststutory audthr trthe￿r￿d 31 CthLEr202 TRUSfEE RESPONSIBIUTY sfAYEMENT The tILtsteès (who are also thè dlrectors of The General Anderson Trnst for the purposes of company lawl are reswnsible lor preparing the Report of the Trusiees and thè flnancial statements in accurdaftce *lth appllcable law and United Kingdom Accountin8 standards (United fingdom Generally Accepted A¢countlng Pract{￿) Induding Finandal Reportin¥ Standard 102 Yhe Ananual ReportlngStandard applicable in the UK and RepublKof Ir￿an￿. CDmpany law wuires the trusteesto prepare flnanoal statements forearh IlnanaalyearT*hich gfve a ￿dfaIr¥ieW of the state of affalrs of the Ch8riiab￿ company and of the incomlng re50uros and appli¢xtion of resources, indudlng the income and expendture, ofthe charitsble company for that per1￿1. In preparin8 thosefinancial Statements. the tNstees are requiyed to select sultabk aCcounfj￿ polKies OTKI then apply them cort%lstenty. obseive the methods and prfnoples In the Charity SORP: make judgem&nts and estlrnates that are reasonable and pmdent 5tste whether appllcable accounting siandards have been followed, subhettto any material departures Isc105ed and e¥plained in thefinancial statemeThts: prepate the financlwl statements on the goo￿ concern basls unless li 15 inappropriate to presume that the charitable companywill CDntlnue In buslnes The trustees are resptsnsible for keep5n8 proper accounting rec(rds whÈch disdose with Teasonable accuracy at any time the flnanclal posltkjn tsf the charltawe company and to enable them to ensure th8t the finandal statements comply wiih the Companles Act 2(K￿. They are also resptsnsible for safe8uardlr* the assets of the tharitsble company and hen￿ for taking reasonablÈ steps for the preventbn and detection of fr4ud and other irr4ulariiles. Page 7 ThéGeneralAndersoA TThst Trustee5 Annual Rep¢xt In so far a5the trustees ara aware.. . there ￿ no relgvant ludlt Infomwtlon of which the charltable companls audltors are unaware of.. and . the trustees have taken all step5 that thry oweht to h￿e trken to make themsefves aware of any relevant InfDrmatlon and to establish thatthe audltors are aware of that irrfomiauo ApF*oval of Trusttes Rèpprt The reporr of the trustees. Intorporats'ng a strdtegk reporL wa5 approved by order of tr* Board ofTrustees. as the ¢ompany dirertor5, on 3L':July 2025 and sl8ned on the board's beha￿ by. Page 9 The GEneral AndersonTrust Audlt Report Independent Aud5tor's Report totht fflemljers ofTheGenernl Tn Oplnlon We Hudited the finanaal Stat￿nts of The General Anderson Trust lthe'thaiiVI for the year ended 310rtobeT 2024 which COTllpfi5e of the Statement of Flnancial AclivTrtles. the Balance SheeL The Statement of Cash Flows and notes tothefinanclal statemonts, Induding a summary of signlficant accounting polldes.Thèfinanclal reportlngframework that has been applled In thelr prpparatlon Is applicable law and United Kingdom Accounting Stahdards, Including Flnantial Reportlng Standard 102 The Flnanaal Reporting Stsndard ap￿1£able in the UK and Republic of Ireland IUnSted Klngdom Generally Accepted Accounting Prdrtlcel. In our opinion the accounts= • give a true and falr vlewof the srate of the charftabletlmnpanvs affairsas at31 October 2024 and of it5 Frofft for the year then ended,- . have beefi propedy prepared in accordance with Unlted Klngdom Generally Accepted Accountlng Practice: and • have been prepared In acCordan￿wththereqU1rQIE￿tsof thecompanles Act2L¥J6, the Charlties andTrust4& Inve$tmer*t (Scotlandl Act 21￿}5 and Regulatron 8 of the CharlllL% Attounts Iscouandl Regulatsons 2(￿6. Basls for oplnlon We conducted our audit In accordance v￿th Intematknial Stsndards tsn Audidng IUKI IISAS IUKI and appllcable law. Our respon51blllties underthose standards arefvrther described inthe Audtti)rf5 respon5ibllitiesforthÈ audlt of the accounts sectlon of our report. We are independent of the charitable company in accordance wlth the ethical requirernents that are relevant to our audit of the accounts in the UL induding the FRU5 Ethical Stsndard. and the provisions available for small entitles, in the clrun￿tanceS set (￿t bèlow, and we have fulfilled our rther ethlcal responsibllitfes in accordance wih these requlrements. We believe that the audti eviden￿ we have obtained is sufficient and approprlate tts provlde basis for our oplnlon. Conclusltsns relatSn810 qohw COb)tem In audltlng the financlil statements, we haveconduded thatthe trus￿￿ useof the8olng concern b3sis of accountlng in the preparation of the financial ststements ￿ appropriate. Based on the work we have performed, we have not identrfled any matertal uncertaintles relatlngto events orcondkions that, Indivldually or collertlvely, may cast sIgn1ft￿nI d￿bt on the charitvs abilr(y to conllnue as a goln8 ¢oncem for period of at leastrtwelvè month5from when thefiriancial Statements are authorised for issue. Our responslbllltles and the re5ponsibllitie5 of the tnJ5tees ￿￿th re$￿tt0 goiD8 concern are described In the relevant sectlons of this report. Other infomiatlon The other informatlon cornprises the infomiation itK4uded in the trustee's report and accounts. other than the acEounts and our auditorfs report thereon. The trustee Is responsible for the other Infonnation. Page 10 TheGeneral AndersonTrust Audlt Report Our oplnion on the acc#)unts does not coverthe other infomidtiDn and. except to the extent otherwlse explicltjy stated ill our ￿port we do not express any fom) of a5yJrantr condusbn ther&)n. Our respon5ibillty is to read the other inforrnation and, in doin8 so, consider whetherthe other Inforniation ts materially Ir￿onsirtttnt with the accounts or our knowledge obtsined in the audit or othetwtse appears to ￿ MaterEal￿ misstated. If we identify such material inconsistencies or apparent material rnisststements. we are requir&J to determine whether the￿ 1$ 3 material misstatement In the accDunts or a materfal misstrtement of the other informatlon. If, based on thÈ work we have performed, we tonclude that there Is a material misststernent of thls other Infomiatlon. we are required to ￿POrt that fact. We have nothing to report in this re8aTd. Matt•fS on whlch we are requ1r￿ to report by exwkn We have nothing to report In respett of the following matter5 in relation to which the Companies Act 2LKJ6 and the Charities Accounts Iscotlandl Regulatlons 2CM)6 requires usto report to you rf, in ouroplnton.. . the informationgiven inthetrusteeg report ts Incon&stertin anymateTial re5pettwth theflnancial ststements; sufficient accountlng records have not been kept,. or • the Ilnancial ststements are ))ot In agreement with theaccountlnB records and retsjrns: we have not received all the informatltsn and explanat￿1fts WÈ rèquire for our audit. Responsibl￿tIeS of irustees A9 explained more fully Irh the trustee'5 res￿nsIbIlitIeS St&tsment found In the t￿￿tee'S ￿por( the tmstee Iwho is also the director of the charitsble company forthe purpose of company lawl is responsible forthe preparatl¢m tsf the accounts andfor belngsat15fiedthatthey8fve atNeandfalrvfiew. and forsuth internalcontrolasthetsusteedetermlnes necessary to enable the preparation of accountsthat ar? free from material misstrtemerrt, whether due to fraud or error. In preparing the accounts, the trustee 15 responsible for a5sessingthe chartiable company'5 ability to continue as a golng concern, dist105in& a53ppIIc2ble, Matters rekted togoingconcern and u51ngthe801ngc¢￿cern basisof accountingunless the tTUStee intends to liquidate the charitsble company orto cease opÈratlons. or havÈ rrf) reali5tJc alternatNe but to do so. AudIt0￿$ responslbllitiesforthe autht of the accwnts We havè beén appolnted a5 auditor under Section 44111 Icl of the Charltles and Trustee Investment Iscotlandl Act 2￿5 and under the Companle5 Act 2LY)6 and report in acc0rf1an￿ wrth regulatlons made under the Att5 and relevant regulations made or having effect thèreunder. Our objertives are to obtaln reasonable assurance about whpther the financial 5tstements as a Who￿ are free from rnaterial misststemen¢ whether due to fraud or error. and to an auditorfs report that Includes our opinion. Reasonable assurance Is a hlgh level of assurance. butts not a guaranteethat an audit condurted in accordante wlth ISA IUKI will always detect a material m15Statement when it exlsts. Mlsstatements can ati5e from frdud or error and are considered materlal If, Indtvldually or in the aggregate. they could reasonably be expeaed to influence the e¢onomi¢ decislons of users taken on the basis of these financial statements. Page 11 The General AndersonTTUSt Audlt Report The extentto whlch our procedures are capable of detectin8 Irregularttiès. Indudlngfraud is detalled below.. Irregularitiés, indudrng fraud, are InStsn￿ ol non-complLqnce with kws and ￿ulatIOnS. We design procedures In Ilne with our re5ponslbilltie5, Outllned above, to detett material m1$5tstements In respect of Irregularltles, including fraud. The extent to which our prDcedures are Capab￿ of deteLting irr4ul3ritres. including fr2ud is detslled bebw. Qur approach to Identlfylng and a5SeS5in8 the rtsks of materlal m￿Staternent in respert of irreBuL4rltles. Includlng fraud and non-compllance wlth laws and regulatioTrs, wa5 as follov45'. the engagement partner ensured that the ereaBernent team collecw had the approprlato tompètÈnce, apabilitle5 and skllls to Identtfy or recognlse non-wnpliance with applicable laws and regulatlons: we Identified the laws and re8ulatiork8 applicable to the charlty through discus510ns Wlth trustees and other managemenL and from our ￿MMercIal knowled8e and eXperfen￿ ofthe 5ettor, we focused on 5peafic laws and regu18tlc￿ whrch wè tonsidered may have a dlrect materlal effed on thè flnancial ststements orthè operations of thetharlty. lrtdudingta¥atN)n and tharldes leglslatlon. we assessed the extent of comp1ran￿ wfth the laws and re8ulatlons above through makln8 enqulrles of management and Inspecting legal Corresponden￿,. and 5. IdÈntifled13w5 and re8ulatlons We￿£0MmUn￿7ted within the audit team regulady and the teHrn remalned alert to instances of non-compliance throu8hiyrt the aud We assessed the S¢js￿pt[bIlbty of the d￿ri￿$ finandal statements kn m3terfal misststement. includin8 obtsinln8 an understsndlng of how fraud MW I￿r. by.. maklng enquirle5 of management as to wherethey considered there was susceptibllity to fraud, their knowledge of artual, 5uspetted and alleged fraud; and ton5iderin8 the internal controls in plate to mltiÉ*e rtsk5 of fraud and non-compllance wlth laws and reEulattons. To addre$5 the risk of fraud through management bk9s and override of controLs, we performed analytlcal pro￿u￿t0 identify any unus4tal or unexpthd rdJtlon5hlps: tested journal entr5e5 to Identlfy unusual trai￿lOn5. assessed whether judBements and assumptlons made in determinirw the accoUn￿ng estlmatss werè Indlcative of potential blas,. and Investigated the rationa￿ behlnd slgnificant or unusual tran5action% In response to the rfsk of irregularrtles and nonthcompllano t￿th laws and regulatlons. deslgned procedure5 whlch Includetl, but wére not Ilmited to: l. agreelngflnanclal ststement dtsdosures to undethirtg supportlng (kX￿￿entstion. 2. rèading the minute5 of meetlngs of those charyÈfl with governan￿,. . enquirlng of Thanagement as to actual and potenlal litimon and daims,. and There are inherent Ilmltstk)n5 in ouraudit procedures descrlbed atove. Thè mrjre removed that laws and regulattons arefrom financlal transactions, the less likely it is that we would become aware of non-compllance. Audlting 5tandard5 a150 fimlt the audit procedures required to identify nonrcompllance wlth laws and regulavons to enquiry of thetrustees and other managemèntandthe In5Pettk￿ of regulatoryèrKI legal correspondence, il any. PaBe 12 The General AndersonTn Audlt Report Matertal mis5tatety￿ntS that arise due tu fraud can be hariler to detert than thLwe that arise from error Bs they may inydve dellberate u)nwlment or colluslon. A fvrther de5CriPtion of our respTh5ibilitieS Is k￿ted on the Hnandal Reportln8 Council'5 website al: httPS'.Ilwww.frc.org.uk/auditor5rwJnslbllitle5. This description fom15 part of our audthrfs report. A further de5cripUon of Ouf responsibilities for the audit of the a¢counts Ls Icoted the Flnancval Re{￿rtIn8 ￿ndY$ website at www.frcorg.ulflaudltorsre5pofLglbllkLles. Thls descrfptlon fonns part of our audltorfs ￿[ Use ol thls rèwt Thls Teport is made solety to the th¥itable companVs mernber5. 85 a body, In aca)rdancèwfth thapter 3 of Part 16 01 the QJrnpanSes Act 2(X)6 and to the charttable companvs trustees. as a body. aCco￿an¢e wTth Regulallon 10 Of the rltles Account$1Scotlandl Regulations 2LI)6. Our audit work ￿5 been undertaken so that we mlght state to the charltable company's mernbers and trustees those matter5 we are requiréd to state to thern In an audhors, rèport and fDr no other purpose. To the ftjllest extent permtied by law, we do nrtaccept or assume re5Ptsrn5ibility to anyone Dther than the charitable ¢ompany, the charftrdble oimpanvs rnemLws as a iKthT the charitsble company's trusrees as body. for our audit work for this rerM)rt. or for the opinbns we haveformed. Millot Accountant5 Ltd Chartered AtCOL¢ntants and 5tstutory Audito Mlllet Ac¢ountants Lté 15 eli8ilAE for appointment as audrtor of the thaiity ￿ wrttje Its ell￿bIlity for appointment as audltor of a company under section 1212 of the Companle5 Act 2CK16 Beyond Akfjgate Tower 2 Leman street Aldgate London EI BFA Page 13 The GeneTal Anderson Trust Statement of HnancialActlvltles forthe year ended 31 October 2024 funds Total funds Totsl funds 2023 Notes Income and end¢)wments from: Donatlons and legacles Investments Charltable artivitie5 Other 3,155 24,419 2￿.154 12,4961 101,981 24,419 2.865,154 {2,4961 38.019 15,334 2,512,093 3,329 Total 2,890.232 2,989,058 2,568,775 Expenditure on: Ralslng funds 5,895 3,789 Charltable Act1￿15¢$ Residents Property Management Total 2.438.907 111,653 465.086 2,438.907 111,653 465,086 2.240.597 192,4148 183,722 3,015.646 3,015,646 2,616,767 Totsl Net galns on Investments Net expenditure Tran5fer5 between funds 3.015,646 3,021,541 2.620.556 1,637 150,1441 {125.414) 91931 I214￿7 {122.4401 132.483) Net movement funds 12,9741 129x8) 132,4831 15Q.1441 Reconcillatlon of funds: Total tsnds brDught forward 2.356.482 45,519 2.402,￿1 2,505,758 Total funds carTled forwartl 2353508 16,010 2,369,518 2,455,614 Page 14 The General AndersonTrust Slalement of Financial Posltion as at 31 Ortober 2024 Unrestrirted Re5trict•d Total Funds Total Funds Funds Funds 2024 2023 Notes Fl)ted assets Fixtures & Fittlngs Property- C05t io 228,950 1,720,500 1,949,450 228,950 1,720,500 1.949,450 213,912 1,657,841 1.871,753 Current assats Stock5 Debtors li 12 7,750 91.324 7,750 91,324 7,750 159,159 Cash at bank and in hand 474,918 16,010 490,928 590,674 573,992 16,010 590,L)02 757,583 CredltOTS 13 -169,934 -169,934 -173,722 Net current •ss•ts 404,058 16,010 420,068 583,861 Total asset5 le55 current Ilabllltl 2,353.508 16,010 2.369.518 2,455,614 Total nèt asset5 2,353,508 16,010 2,369.518 2,455,614 Funds Unrestricted Fund5 Restrirted Funds 14 2.353,508 16.010 2.410,095 45,519 Total funds 2.369.518 2.455,6L4 These financial statements have been audited under the requlremenis of Section 44llllcl of the Charities and Trustee Investment Iscotlandl Act 2005. The financial statements were approved by the Board of trustees and authorised for issue on 31st July 2025 and were signed on its behalf by.. Page 15 TheGeneral AndersonTrust Statement of Cash flow5 for the year ended 31 October 2024 Z023 Cash flow$ from operatlry athitle5 Net expendhure per Statement of Flnandal Actfvltles 132.4831 150,1441 Adlustmems for: Depreciatlon of property, plant and equi&￿ent Loss on disposal of tangible fixed assets Dlvldends. Interest and rents from investmerrts Increase in stocks Decrease in trade and other receivatrAes IDecreasellln¢rea5e in trade and other payables 91.726 95,781 8.108 18,6991 13,7501 193,278 29,249 121.9231 14.187 13.7881 Net tosh provtded by operatln8 actl¥ltt 47,719 262,186 Cash flows from Inve#ing artivitl¢s Payments for prDixrty. plant and eqvipment Dividends, interest and rents from investsments 11693881 21.923 1206,9421 8,699 Net cash used In Investlng a¢livltle5 1132,5561 Net Cash from financing athitles Net (de¢rease)Ilncrease in cash and cash equivalents 199,7461 129,630 Cash ènd cash equlvalents at the b4lnnlw of the s￿.674 461,044 Cash and cash equlvalents at the end ofthe 490.928 590,674 Components of cash and cash equl¥alents Cash and bank balances 490,928 590,674 490,928 s90,￿4 Page 16 The General AndersonTrust Notes to the Accounts l Accountlng pollcles Company Inft>rmatlon ReBSstered Company Number CS004583 (Scotlandl Re81Stered Charity number SC050117 Registered OffKe 2 Institution Road, Elgin, Moray, IV30 IflP. Functional Currency The functional curTency of the accounts is G￿at 8ritlsh Pounds Webslte www.andersons£arehome.co.uk Basisof preparatlon The financial staternents are prepared in accordance with the Financial Reporting Standard 102, as issued by the Financial Reportin8 Council, the statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" the Charities and Trustees Investment (Scotlandl Act 2005. and the Charitie5 Accounts (Scotlandl Regulations 2006 las amended). A5set5 and liabilities are iTbitialFy retogni2ed at historical cost or transition value un5es5 Otherwise stated in the relevant accounting policy. The preparation of financial statements requires the use of certain critical accounting estimates. It also requires the trustees to exercise their judgement in the process of applying accounting policies. Use of available information ènd application of judgement are inherent in the fom)ation of estimates. Income All income is recognised in the Statement of Financial Activities once the charity has ent￿tlement to the funds. it is pfobable that the income will be received and the amount can be measured reliably. Expendf¢ure Liabilitie5 are recogni5ed a5 expenditure as 500n as there 15 a legal or constructive obllgation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure i5 accounted for on an accruals basis and has been classified under headings that aggregate all c05tS felated to the category. Where costs cannot be directly attributed to Particular headings they have been allocated to activitie5 on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over it5 estimated useful Ilfe. Freehold Property IO% on cost, 5% on cost, 2% on c05t and at varying rate5 on cost FIxtu￿5 and fittings 20% on cost and IO% on cost Property, plant and equipment arc initially measured at cost and 5ub5equently measured at C05t of valuation, net of depreciation and any impairrnent105ses. Items under£ 1,000 are not capitalised. Taxatlon The charity is exempt from corporation tax on its charitsble activities. Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowan￿ for obsolete and slow moving items. Page 17 TheGeneralAnders(•nTrust Notes to the Accounts Rjnd Accountlng Unrestrlcted funds can be used In ac£ordan￿ wTth the charitsble objective5 atthp dlscrellon of the trustees. Restrlcted funds can On￿ be used f0rparticularre5trltt￿ purptsses wlthin theoblects of the charlty. Re5trSctlons arise when specified bythe donor orwhen fund% arè ralsedfor partlutlar restrlcted Purposes. Further explanatlon of the nature and purpose of eath fund 55 induded In the note5 to thefinantlal statements. Penslon costs al￿ other p05t-fetlr•nent b•wPrts The charty operates a defined contributiDn pension sthem& ContrJbutlon5 payable to the charlvs penslon sch¢me are charwl to thestatement of Financial A¢￿111¢$ in the peAodto whkh they relate. Golng Concern At the time of approvin8 the finanaal si8temenL the trustees have reasonab￿ expertat6on that the trust has adequate resources to contlnue in operational extstences fortheforeseeable future. Thus, the trustees contlnue to adopt the goln8-conc&rn basis of accounthng In preparlng the finanaal staternents. Donatlons and LegJci¢s Z024 2023 Donations 101,981 38,019 Z024 2023 Rents ReceNed Dlvidends Received Interest Re￿IVed 6.635 693 8,IJ06 6,980 17.439 Residents Room Fees Grants 2,865.154 2,488505 23,588 2 865 154 2 512 093 Page 18 The GeneralAfidersonTn￿t Notes to the Accounts Ralsin8 funds costs 5,895 3,789 5.895 3,789 l>rertCots ￿pport (see Note &ll Totsl Resldents Property Management and administration 2.275.730 19.927 163.175 91.726 465,086 2.438,905 111,653 465.086 2 295 657 ￿7 3,015,644 G(NeTnance Residents Property Management and admlni5tration 145,647 82.441 465,086 17.528 9,285 163,175 91.726 465,086 693 174 719.987 Pa8e 19 TheGeneral Ander5onTru5t Notes to the Accounts Total Total 2023 Residents 163,175 154.801 Employee costs Premises Gosts Amortisation, depreciation. impalrmenti profitlloss on di5P05al of flxed assets General admlnlstrative costs Legal and professional costs Other 2.275,730 355,187 1.965.399 273,223 g1.n6 103,889 108,652 19.927 1.247 3.015,646 103,886 15.568 2,616,767 8 Trustee remuneratlon and expenses There were no trustees remuneratK)n or other beneffts for the year ending 31 October 2024 nor for the year endlng 31 October 2023. There was I trustees expense paid for the year 31 Ortober 2024 forthe value of £195.50 and none for the year ended 31 October 2023. Page 20 The General AndersonTrust Notes to the Accounts 9 Staff costs 2024 2023 Salaries and wages Social security costs Pension costs 2,085,945 141,663 40,087 2,267,695 1,821,654 112,713 31,033 1,965,399 The average number of staff for the year is as follows: l)ffice Management Residential Care 9 12023- 81 115 12023- 1081 124 No employee received emoluments in excess of £60,000. loTa￿1b￿ fixed a55ets Freehold P¥operty Fixlures& Fitting5 Totsl At l November3J23 Addition5 Dispx)saFs 1471598 IOJ,318 691,380 69.070 3,163,978 Asat310ttober2tr24 Dwiation Atl November2023 814.756 37,of￿• 477,WJ 54.011 L291215 91,691 Depreciation in theyear At 310rtobera)24 NET B(*)kValue At 3lottober￿23 87 At Jic*tober 2024 Page 21 TheGeneral AndersonTrust Notes to the Accounts 2024 2023 11 StoEks Stocks 12 Debtor$ 2024 2023 Trade debtors Other debtors Prepayments Residents Expenses 54,860 13.791 21.076 1.597 113,572 20.042 25.545 Page 22 TheGeneral AnderscnTrust Notes to the Accounts 13 Credltors: amounts falling due wf(hln one year 2023 Trade creditor5 Wages Control Accounts other credftors Accruals 143,0331 (68,2211 {46,6801 112,(MJ)I 73.740 31.755 56,214 12,013 14 Movement In IncLwml At31 Ortober 2024 Gro transfer5 Atl November (Indudl expended Restrfcted lunds: Restrkted Income funds: Residents Amenities funds Playlist Resident Trishaw Bike Fund Lift fund Latch Moray Trust rotul {4,1321 10,586 470 470 37,598 Im,4401 5,IT2 11.7631 15,895} 45,519 153,6131 (12W) 16.010 153,6131 Adjustmentltransfer Unrestrlrted fuNIs: General funds 2,410￿95 2.890.232 13.015.646) 122,440 2A07,121 Total funds 2.402.001 2,989,058 13,021.5411 2,369518 15 Analysis ol net assets between funds Unrestrirted funds Totsl Fixed assets 228,950 1,720.51 420,068 2.369,518 228,950 1,720,5CK) 420,068 2,369518 Investments Net current assets P8ge 23 The Genernl AndersonTrust Notes to the A¢wunts 16 Reconclliation of net debt Atl N(Nember 2023 At31 October 2024 Cash flows Cash and cash equivalents 590,674 590,674 -99,746 -99,746 4￿,928 49J,928 Net Debt 17 Commltma Opemtlng lease commltments Annual commltments under non-cancellable operating lease5 are as fdlows: 2023 Land and I￿NdIng5 2023 Land and Iwlldl Operating le?5es with expiry dats.. Penslon commltments The penslon cost charge to the company amounted to". 18 Related Party Transactlons There were no related party for the year ended 31 October 2024. Page 24 The General Andersr•n Trust Detalled Ststement of Flnanclal P£tl¥lU 18 Comparatl¥es ftythe Statement of Financial ACti￿leS 11.102J rund rp4COME aND E]WWM%i¢rs Fliom X428 34Jg1 38,019 Cb4Yl*xblt 8*llvlll*8 1488.505 2Jll1193 inwme uih¢r i#¢iJm¢ 15334 X329 3.JZ9 511.179 2J68.775 EXPLYD¥TiIRE k7 -7.7x4 Re%ithts lJ40.Y JtK.44* 191448 2 62Q.556 Ir4COMiI(EXPL¥DIYURE) fu¥d¥ I IfMS34) 54J 128 17 (73874) 150.144) XECDNCILIATI(XN OF FIYNDS rowl forward l l¥J_W3 2.sriJ.7 TufAL ¥IIW4D5 CARIII£D FOAWAAD 45 2 410J)95 ￿19 2A55 614 Page 25