REGISTERED COMPANY NUMBER: SC708608 (Scotland)

REGISTERED CHARITY NUMBER: SC053435

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2025

for

NESCAN Hub Limited

Page

Report of the Trustees

1

to

5

Report of the Independent Auditors

6

to

9

Statement of Financial Activities

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

to

25

The Board of Trustees present their report and financial statements for the year ended 31 March 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 Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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 (FRS102)" (as amended for accounting periods commencing from 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The company's objectives are the advancement of environmental protection and improvement, and in furtherance of this to develop awareness and understanding among people and organisations in Aberdeen and Aberdeenshire of climate change and biodiversity loss and to encourage positive action to mitigate and adapt to their impact.

Our vision is a sustainable North East Scotland, with connected, empowered, active communities at its heart. We endeavour to realise this vision through our services and activities in line with our values being sustainable, inclusive, responsive and ethical and using our core methods of connecting, supporting, learning and collaborating. We live our values and encourage all that we work with to embody these values and methods utilising our ethical engagement and communication framework.

Statement by NESCAN Chair for year April 2024 to March 2025

In this reporting period NESCAN Hub reached three years in existence and transitioned from a CIC into a Charity in June 2024. The organisation has grown its membership, demonstrated a large number of impactful community engagements, supported community led climate action and distributed funds to many community groups. The resources generated by NESCAN Hub, and available via its expanding website, continues to grow. It was responsible for the launch of the brand new Envirolution Aberdeen Festival. In addition, NESCAN Hub organised or played a significant role in high level government events for the evaluation and promotion of climate action across Scotland, which reflect increasing influence of NESCAN Hub at the level of local and national decision makers. The network of Climate Hubs in Scotland that NESCAN Hub started as a Pathfinder hub and continues to support has grown and flourished to now cover the whole of Scotland.

Significant Activities

We take a collaborative and community led approach enabling communities to understand climate change and how they can act on climate change and increase biodiversity and resilience and support them to take action. We deepen climate literacy, thought and prompt action through a variety of ways from climate literacy training and workshops, information sessions and interactive stalls, to running Climate Week North East and being the initiator and on the steering group of Envirolution Aberdeen.

We provide opportunities to gain climate know how and develop skills through events and training, online and shared resources, signposting to other support services. Most importantly we provide tailored 1:1 support, seed funding and funding advice to community organisations and non profits to enable them to become more sustainable and create and develop community climate action projects and related action. Within a partnership of 5 organisations we deliver a £1m Just Transition participatory budgeting fund for Aberdeen, Aberdeenshire and Moray.

We are a membership organisation, with 393 members in North East Scotland. As part of our Just Transition Communities Project, we have delivered community assemblies and deliberative democratic processes enabling communities to develop a vision for their future sustainable, happier, healthier community and a plan of that can be achieved. We have then supported them to deliver on those plans.

We enable our members to have their voices heard by those in power contributing to local and national consultations, having their thoughts and views feed into development of local planning, policy and decision making. We speak on their behalf, and enable them to speak directly, in meetings and conferences, and write to political and government representatives, academic and business leaders to enable them to be heard and effect change.

Main achievements of the charity

In 2024/25 our membership grew by 57% to 393 members enabling us to widen our impact, reach and peer support. We supported 182 groups and projects with advice leading to 50 new community led climate change mitigation, adaptation and biodiversity projects and ongoing support of development of 84 existing groups and projects. We have continued to increase the diversity of our membership, reaching out and working in depth in capacity building and visioning with minority/youth groups.

Through our SEED and LEAF funding we funded 51 community led climate action and biodiversity projects and as part of the partnership running the £1 million Just Transition Participatory Budgeting Fund, we enabled 37 groups in Aberdeen City and 54 groups in Aberdeenshire to receive capital funding for just transition projects creating positive social and environmental impacts. We also supported 120 groups with funding help and advice.

We built up our website resources, adding 21 new resources and were involved in running or taking part in 28 climate know how events and 10 learning and sharing events. We have our bi-monthly members meeting and ran for the first time a Members Gathering bringing our members together face to face to talk, connect, learn from each other and ceilidh. We brought together a steering group made up of local not for profit community groups and individuals to create the first Envirolution Aberdeen, a one- day climate festival with music, dance, poetry, tours, ranger led events, bike repair, use and rides, workshops, over 50 stalls and a panel talk programme. Over 1,000 people attended and we received fantastic feedback.

NESCAN Hub hosted a visit with the Cabinet Secretary for Net Zero & Energy, in May and organised a visit with the Minister for Energy, Just Transition and Fair Work to showcase the work NESCAN Hub is doing to ensure communities furthest from power are part of a Just Transition. In October, NESCAN Hub organised and hosted the Just Transition Commission and Committee for Climate Change for a day to discuss a just transition from a community perspective, enabling the Commissions to hear from over 120 community members and stakeholders. The discussions the Commission had at our event will form part of their recommendations to the Scottish Government on carrying out a Just Transition to Net Zero in Aberdeen and are part of their most recent report 'Conditions for Success'. NESCAN Hub's role in the Parliamentary Committee for Economy and Fair Work's investigation into a Just Transition in NE Scotland and within the Net-Zero, Energy and Transport (NZET) Committee's People's Panel was also seen to have had impact on their reports.

Our Just Transition Communities Project organised, participated in and hosted a panel discussion at this years' SCVO the Gathering on 5 Feb in Edinburgh on 'Communities as active partners in a Just Transition: practice, learning and policy change.' The impressive panel included the Acting Minister for Climate and Co-Chair, Just Transition Commission and was attended by 80+. Our CEO was then the Sustainability at the Gathering Extra an online filmed event, which 250 attended, through our Just Transition Communities Project, ourselves and our partners

Across 2024-25, the Just Transition Communities Project met or exceeded its outcome targets and deepened its strategic value across the region. The project:

-

Built community confidence, skills, and capacity

-

Anchored climate and transition work in local priorities

-

Advanced deliberative democracy and participatory decision-making

-

Generated high-quality national learning resources

-

Supported local economic, social, and environmental resilience

-

Created strong foundations for long-term transition work across the North East

The year shows a trajectory from early engagement toward a mature, community-led, multi-partner model that meaningfully contributes to a Just Transition.

The project significantly strengthened community capacity, participation, and leadership across the North East, enabling residents to shape local responses to climate, place, and social justice challenges. Partners supported communities in developing more than twenty Just Transition place plans, delivering deliberative assemblies, and generating new place-based projects that align with local priorities. This work deepened confidence and agency among residents-including children, young people, and under-represented groups-as seen in initiatives like Huntly's community-designed café and Kemnay's resilience hub planning, where local people took increasing ownership of solutions tied to climate adaptation, economic opportunity, and wellbeing.

The project also made substantial progress in embedding deliberative democracy and growing regional collaboration, generating national learning resources (openly accessible on the project website and shared widely to stakeholders) and attracting the interest of policy stakeholders. The newly published report on Just Transition "Tools for Deliberative Democracy", combined with real-world examples such as Huntly's Minimum Income Guarantee proposal to policy makers, and Torry's creative "A Play for Torry" workshops, illustrates how diverse engagement methods have widened participation and influenced systems-level thinking. Stronger connections between schools, local organisations, and national bodies have further integrated climate literacy, employability, and community resilience into everyday practice-demonstrating that a just transition is most effective when it is collectively shaped by those most affected.

The charity's Community Development panel initially assesses the funding applications forwarded by local groups and communities to ensure they satisfy the charity's grant criteria before forwarding to the charity's CEO and Board of Trustees for consideration.

FINANCIAL REVIEW

Financial position

The organisation made the decision and continues to work towards building a surplus (unrestricted reserves), equating the total of three months of costs, to reduce the burden or need for potential redundancy and/or financial crisis situations. Efforts to achieve this goal will continue into the next financial year.

Results for the year ended 31 March 2025 can be found in the Statement of Financial Activities on page 10, while the assets and liabilities are detailed in the Statement of Financial Position on page 11.

The Statement of Financial Activities indicates that grant income and expenditures have been balanced to zero for the year, with an amount of £74,160 approved by the Scottish Government and Aberdeen City Council (the funders) to be carried over to the Financial Year 2025/26. In comparison, an amount of £84,531 was carried over to FY 2024/25 last year.

Unrestricted income which includes donations and miscellaneous income totals £15,869 (2024: £793), whilst the total restricted grant income for the year totals £945,730 (2024: £790,430). At 31 March 2025 the unrestricted reserves amounted to £16,518 (2024: £649) and the funds held in the charity's bank amounted to £177,191 (2024: £106,436).

The principal funding income is through grants from the Scottish Government and Aberdeen City Council which is distributed to local groups and communities for climate action projects and to fund the charity's operations. The principal risk to NESCAN Hub is the delay or cessation of Scottish Government funding. The charity has already started to diversify it's funding streams and the Board of Trustees are actively looking to continue this diversification in the future by collaborating with other partnerships.

FUTURE PLANS

NESCAN Hub will continue its work as a regional community climate action hub for North East Scotland, providing support for community led climate action and ensuring communities are at the heart of a just transition contributing to its policy setting, decision making and delivery. We will continue to deliver our Just Transition projects and work with communities to help them to create a community vision and plan and fulfil it. We are working towards being more diverse in our income streams and financially sustainable, gaining more resources to enable communities to build income streams in a just transition, such as community energy and building peer knowledge and support groups for network resilience.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a private company limited by guarantee having no share capital in accordance with the Memorandum and Articles of Association and recognised as a charity by the Office of the Scottish Charity Regulator in accordance with the provisions of The Charities and Trustee Investment (Scotland) Act 2005.

As set out in the Articles of Association, the trustees' may appoint further members as and when it is desired.

Recruitment and appointment of new trustees

We recruit trustees through advertising the role, with a role description, on our website referring to that on Volunteer Scotland, LinkedIn, our local TSIs, stakeholder newsletters, our own newsletter and socials and word of mouth. The application is through CV and covering letter and applicants are interviewed by our chair and discussed with the CEO. The Chair would then make a recommendation to the full Board who would decide. 'Accepted' candidates would then attend a Board Meeting and then confirm if they wished to become a Trustee. If they did want to become a trustee then they would officially be entered onto Companies House and OSCR at an agreed date of appointment.

Our Board of Trustees meets quarterly, and we have a Finance and Fundraising sub group, People and HR subgroup and a Risk Management sub group. All sub groups consist of Trustees and a member of the senior management team. Our Trustees receive training in line with their role and responsibilities and have access to key documents through a dedicated Board channel.

The Board of Trustees review the remuneration of key management on an annual basis.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC708608 (Scotland)

Registered Charity number

SC053435

Registered office

The James Hutton Institute

Craigiebuckler

Aberdeen

AB15 8QH

Trustees

Ms K Buck (resigned 14.6.25)

Miss A Burgos Aguilera (appointed 9.2.24)

Ms M F M Chapman

B Donald (resigned 18.7.24)

D A Innes

J Kohnert (appointed 9.2.24)

Ms G Needham

C D Oliver (resigned 4.6.25)

Dr A H Price

Ms D Shapovalova (appointed 2.9.24)

Ms L Sutherland (appointed 2.9.24)

Auditors

Tawse & Partners

Statutory Auditors

18 North Silver Street

Aberdeen

AB10 1JU

Bankers

Co-operative Bank

29 Gordon Street

Glasgow

G1 3PF

Alison Stuart is the Chief Executive Officer who the trustees have delegated the day to day management of the charitable company to.

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees (who are also the directors of NESCAN Hub Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Tawse & Partners, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 16 December 2025 and signed on its behalf by:

Dr A H Price - Trustee

Opinion

We have audited the financial statements of NESCAN Hub Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, 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 Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion

We conducted out audit in accordance with International Standards on Auditing (UK (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.

We are independent of the charitable company in accordance with the ethical requirement that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standards, 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 opinion.

The financial statements of the prior year were not audited therefore the corresponding figures presented as comparative information are unaudited.

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 financial statements is appropriate.

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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are 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 Annual Report, other than the financial statements and our Report of the Independent Auditors 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.

In connection with our audit of the financial statements, our responsibility is to read the other information and, 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

-

the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

-

the directors' report included within the trustees' report has been prepared in accordance with applicable legal

requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

-	adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is 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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditors 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 and 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 above, 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:

All engagement team members were briefed on relevant identified laws and regulations and potential fraud risks at the planning stage of the audit. Engagement team members were reminded to remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The most relevant frameworks identified include:

- UK GAAP

- Companies Act 2006

- Charities and Trustee Investment (Scotland) Act 2005

- Data Protection Act 1998

- Employment Rights Act 2010

- The Charities Accounts (Scotland) Regulations 2006

- The Employment Act 2002

- The Human Rights Act 2000

- The Management of Health and Safety at Work Regulations 2003

We gained an understanding of how the charitable company is complying with these laws and regulations by making enquiries of management. We corroborated these enquiries through our review of relevant correspondence with regulatory bodies and board minutes.

We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur by meeting with management and those charged with governance to understand where it was considered there was susceptibility to fraud. This evaluation also considered how management and those charged with governance were remunerated and whether this provided an incentive for fraudulent activity. We considered the overall control environment and how management oversee the implementation and operation of controls. In areas of the financial statements where risks were considered to be higher, we performed procedures to address each identified risk. The following procedures were performed to provide reasonable assurance that the financial statements were free of material fraud or error:

-

Reviewing minutes of meetings of those charged with governance;

-

Reviewing the level of and reasoning behind the charitable company's procurement of legal and professional services;

-

Performing audit procedures over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of charitable activities and reviewing judgements made by management in their calculation of accounting estimates for potential management bias.

Our audit procedures were designed to respond to risk of material misstatement in the financial statements, recognising that the risk of not detecting a material risk due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and the trustees those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Hazel Neilson (Senior Statutory Auditor)

for and on behalf of Tawse & Partners

Statutory Auditors

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

18 North Silver Street

Aberdeen

AB10 1JU

16 December 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

7,250

-

7,250

440

Charitable activities

3

Grants receivable

-

945,730

945,730

790,430

Other income

4

8,619

-

8,619

353

Total

15,869

945,730

961,599

791,223

EXPENDITURE ON

Charitable activities

5

Grants payable

-

348,802

348,802

319,013

Event costs

-

6,212

6,212

7,871

Other

-

590,716

590,716

463,707

Total

-

945,730

945,730

790,591

NET INCOME

15,869

-

15,869

632

RECONCILIATION OF FUNDS

Total funds brought forward

649

-

649

17

TOTAL FUNDS CARRIED FORWARD

16,518

-

16,518

649

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

CURRENT ASSETS

Debtors

15

-

4,879

4,879

-

Cash at bank

16,518

160,673

177,191

106,436

16,518

165,552

182,070

106,436

CREDITORS

Amounts falling due within one year

16

-

(165,552

)

(165,552

)

(105,787

)

NET CURRENT ASSETS

16,518

-

16,518

649

TOTAL ASSETS LESS CURRENT LIABILITIES

16,518

-

16,518

649

NET ASSETS

16,518

-

16,518

649

FUNDS

17

Unrestricted funds:

General fund

16,518

649

TOTAL FUNDS

16,518

649

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 16 December 2025 and were signed on its behalf by:

A H Price - Trustee

Cash flows from operating activities

Cash generated from operations

1

70,903

101,257

Tax paid

(148

)

147

Net cash provided by operating activities

70,755

101,404

Change in cash and cash equivalents in the reporting period

70,755

101,404

Cash and cash equivalents at the beginning of the reporting period

106,436

5,032

Cash and cash equivalents at the end of the reporting period

177,191

106,436

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.3.25

31.3.24

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

15,869

632

Adjustments for:

(Increase)/decrease in debtors

(4,879

)

100,031

Increase in creditors

59,913

594

Net cash provided by operations

70,903

101,257

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

106,436

70,755

177,191

106,436

70,755

177,191

Total

106,436

70,755

177,191

1.	ACCOUNTING POLICIES

Company information

Nescan Hub Limited is a private company limited by guarantee incorporated in Scotland. The registered office is The James Hutton Institute, Craigiebuckler, Aberdeen, AB15 8QH.

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting stand applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2019).

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 as set out below.

Going concern

Detailed budget forecasts have been prepared covering a period of at least twelve months from the date of signing of these financial statements and the Board of Trustees are confident that the charity has adequate resources to continue operating. Therefore, at the time of approving the financial statements, the Board of Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Board of Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the Board of 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, in the period of the revision and future periods where the revision affects both current and future periods.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income is received by way of donations and grant income and is included in full in the Statement of Financial Activities when received except in so far as they are incapable of financial measurement. Cash donations are recognised on receipt.

Income from government grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation 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 is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions being met at the year end are accrued as expenditure.

Taxation

The charity is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities.

Charitable funds

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Board of Trustees.

Restricted funds can only be used for particular restricted purposes as specified by the Scottish Government and the Local Council.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contributions pension scheme. The assets are held separately for those of the charity. The annual contributions are charged to the Statement of Financial Activities.

Financial instruments

The charity has elected to apply the provisions for Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to a contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to get off the recoginised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

Cash and Cash Equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

£

£

£

£

Donations

7,250

-

7,250

440

3.	INCOME FROM CHARITABLE ACTIVITIES

31.3.25

31.3.24

Activity

£

£

Grants

Grants receivable

945,730

790,430

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

£

Scottish Government

887,029

790,430

Aberdeen City Council

58,701

-

945,730

790,430

Grant income from the Scottish Government and the Local Council is restricted funding to be used for the distribution of grants to local groups and communities for climate actions projects in Aberdeen City, Aberdeenshire and Moray and to fund the charity's operations.

4.	OTHER INCOME

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

£

£

£

£

Miscellaneous income

619

-

619

350

Nescan admin fee income

8,000

-

8,000

-

Membership income

-

-

-

3

8,619

-

8,619

353

Other income is unrestricted and is currently used to build up a 3 months surplus equating to three months of costs.

5.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Direct

(see note

Costs

6)

Totals

£

£

£

Grants payable

-

348,802

348,802

Event costs

6,212

-

6,212

6,212

348,802

355,014

6.	GRANTS PAYABLE

31.3.25

31.3.24

£

£

Grants payable

348,802

319,013

The total grants paid to groups and communities during the year was as follows:

31.3.25

31.3.24

£

£

AFW/MDEC

53,735

71,291

Tsi Moray

37,950

45,151

Go Deep

19,651

5,595

Open Source

42,162

46,925

University of Aberdeen

25,246

32,882

CCN

68,938

73,870

NESCAN

32,072

8,225

SEED funds distributed

10,847

26,074

Climate assembly funding

-

9,000

ACC Leaf Funding

58,201

-

348,802

319,013

7.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

£

£

£

Other resources expended

85,474

43

15,562

101,079

8.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.25

31.3.24

£

£

Other operating leases

10,800

11,100

9.	AUDITORS' REMUNERATION

31.3.25

31.3.24

£

£

Fees payable to the charity's auditors for the audit of the charity's financial statements

7,200

-

10.	TRUSTEES' REMUNERATION AND BENEFITS

Trustees' expenses

There were no trustee's expenses paid during the year ended 31 March 2025 nor during the year ended 31 March 2024.

Board of trustees

The Board of Trustees, who are directors for the purpose of company law, are not paid any remuneration or expenses.

The key management personnel remuneration and benefits for the year were £57,857 (2024 - £46,636). These costs include salary and employer pension contributions.

11.	STAFF COSTS

31.3.25

31.3.24

£

£

Wages and salaries

425,774

335,132

Social security costs

37,763

27,652

Other pension costs

11,473

5,977

475,010

368,761

The average monthly number of employees during the year was as follows:

31.3.25

31.3.24

Management

1

1

Administration

12

8

13

9