REGISTERED COMPANY NUMBER: SC182878 (Scotland)

REGISTERED CHARITY NUMBER: SC027590

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Crathie Opportunity Holidays

(A Company Limited by Guarantee)

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Statement of Financial Position

7

to

8

Notes to the Financial Statements

9

to

16

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2026. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal activity of Crathie Opportunity Holidays is to provide self-catering holidays for disabled people and their families and friends. To achieve this, the four cottages, landscaping and play areas have all been designed and equipped to enable access for a wide range of adults and children.

Our aim is to provide accessible, high-quality self-catering holidays, fostering independence, relaxation, and memorable experiences for disabled people and their families and friends, ensuring everyone can enjoy a well-deserved break.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The charity's income is principally derived from visitor rental of the cottages, which totalled £78,214 this year. This represents a fall of £1,325 as compared with the previous year. In order to address this reduction we anticipate short break bookings in FY26/27 will increase.

We are very fortunate in retaining a stable and expert management and housekeeping team who maintained the high quality and attractiveness of the holiday experience for our visitors.

The trustees wish to put on record their appreciation of the expertise and hard work of the long- serving manager and of the housekeeping staff.

Fundraising activities

Whilst income is principally derived from visitor rental of the cottages, additional funding is received as a result of fundraising efforts. Funds raised from these activities, as well as donations, enable us to maintain the quality and user-friendliness of the cottages and to add new items of specialist equipment.

The main source of fundraising income is the Balmoral Golf Day which accounts for over two thirds of the fundraising income (circa £9,440). Funds have also been raised through events such as Gairnshiel Lodge Lunch, 200 Plus Club and Bingo Night.

Regular involvement and support of volunteers from the local community has provided much needed help and expertise in running the cottages and maintaining and beautifying the garden. Their support and that of Trustees for the staff, who interact with visitors is a great bonus. The level and enthusiasm of involvement with the local community continues to be an essential part of the Crathie Opportunity Holidays experience which is commented on by our visitors.

Grants received

Two grants were received in the year, one from the Coop of £2,022 for the purpose of refurbishing the garden and playground. The other grant was received from the Miss Caroline Jane Spence's Fund (£5,000) for the refurbishment of the cottages.

FINANCIAL REVIEW

Financial position

Income and Expenditure

Overall, income has decreased by £13,887 this year. This is primarily due to decreases in all types of income; cottage income by £1,325, fundraising income decreased by £8,787, deposit interest by £2,485, donations by £178 and sundry income by £1,663.

Expenditure has increased by over £13,800 this year to £137,153. The main increases this year was in refurbishment costs for the 2 cottages of £9,683, staffing by £5,077 due to additional work created by short breaks.

Income and expenditure combine to create a deficit of £25,898. which has reduced total funds at 31 March 2026 to £338,232.

Reserves policy

Total reserves [net assets] on 31 March 2026 were £338,232 - a decrease of £25,898 compared with a year earlier [£364,130]. Cash reserves not required in the short term are invested in long term deposits to generate additional income for the charity.

Unrestricted Reserves

It is the policy of the Trustees to maintain unrestricted funds, which have not been designated for a specific use, to a level equivalent to six months of overall expenditure. This is to ensure that, in the event of a significant drop in funding, the charity's core activity can continue while consideration is given to finding additional or new funding.

Fixed Assets and Capital Expenditure

The charity's register of tangible fixed assets (tenant's improvements, fixtures and fittings, and computer equipment) is updated annually for additions, disposals, and depreciation. At 31 March 2026 the net book value of tangible fixed assets was £102,369, after additions of £4,293, and depreciation charges of £17,778.

Capital expenditure is incurred in accordance with the 5-year refurbishment programme adopted by the Trustees. Apart from planned refurbishment, necessary repairs and renewals of both buildings and the fittings and furniture are charged as capital expenditure as they arise.

Future Financial Outlook

We anticipate continued inflationary pressures on operational costs and will continue to manage key cost drivers through measures such as benchmarking and regular review of budgeted v actual costs.

FUTURE PLANS

Cottage Refurbishment

The significant refurbishment of the cottages will continue in FY26/27. Each cottage is being sympathetically refurbished to address specific challenges such as dementia, autism and sensory impairments. A budget of £35,500 has been earmarked for refurbishment of the remaining 2 cottages and £5,000 for the Garden Room.

Garden and Playground Refurbishment

Garden and Playground Refurbishment

The upgrade of the playground and garden will continue in FY 26/27, including a refresh of the playground equipment and summerhouse, creation of a sensory play area installation of habitats to encourage wildlife into the garden for guests to enjoy. A budget of £28,000 has been earmarked for the work required.

25th Anniversary Celebrations

The charity will have been providing self-catering holidays for disabled people and their families for 25 years in 2027. A sub-group of the Board has been established to generate ideas for events and other ways to commemorate and celebrate this significant milestone in the charity's history.

The timeline for the refurbishment of the cottages, garden and playground is such as to ensure these are completed in time for the anniversary celebrations.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Crathie Opportunity Holidays is a charitable company limited by guarantee governed by its Memorandum and Articles of Association under the Companies Acts and, a charity registered and regulated by the Office of the Scottish Charity Regulator.

Recruitment and appointment of new trustees

The Board currently has 9 Trustees who are also Directors of the Company for the purposes of companies legislation. 8 are ordinary Trustees appointed for 3-year terms - which may be renewed on nomination by the Board or members of the company and subject to confirmation of appointment by the Annual General Meeting of the charity.

One Trustee is also nominated by the Kirk Session of the Church of Scotland Parish of Braemar and Crathie.

The Board

The Board has quarterly meetings to monitor and review the strategy, operations and finances of the charity. Sub-groups, for e.g. finance, staffing, marketing, maintenance and refurbishment, health and safety, and fundraising and volunteers take forward and monitor specific aspects of the charity's activities and report to the Board as necessary.

Each Trustees is provided with a Trustee Handbook setting out the roles, duties, and responsibilities as a trustee and background information on Crathie Opportunity Holidays. The Board and its sub-groups are responsible for strategy and oversight of the operations, finances, and good management of the company.

Day-to-day management of the running of the business and administrative is vested in the Manager and housekeeping team. The Trustees are also specifically responsible for the maintenance and integrity of the corporate and financial information on the charitable company's website, in the Trustees' Annual Report and Accounts, and in communications with members.

Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC182878 (Scotland)

Registered Charity number

SC027590

Registered office

The Manse Courtyard

Crathie

Ballater

Aberdeenshire

AB35 5UL

Trustees

Prof A Macleod

Mr A S Mcnicol

Ms S Farquharson

Miss A J Munro

Mr G Feeney

Mr B Lawson

Mr A Bowman

Mrs H P A Van Den Broeck

Ms H Gray

Company Secretary

Mr A Bowman

Independent Examiner

Gillian R Nicolson

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

Chairman of Board of Trustees

Mr B Lawson

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 22 September 2026 and signed on its behalf by:

Ms H Gray - Trustee

I report on the accounts for the year ended 31 March 2026 set out on pages six to sixteen.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention :

(1)	which gives me reasonable cause to believe that, in any material respect, the requirements

-	to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

-	to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2)	to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Gillian R Nicolson

The Institute of Chartered Accountants of Scotland

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

22 September 2026

2026

2025

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations, legacies and grants

3

3,616

7,522

11,138

10,765

Charitable activities

Rental of Holiday Homes

78,214

-

78,214

79,539

Support

3,338

-

3,338

5,001

Other trading activities

4

13,389

-

13,389

22,176

Investment income

5

4,871

305

5,176

7,661

Total

103,428

7,827

111,255

125,142

EXPENDITURE ON

Raising funds

1,002

-

1,002

3,111

Charitable activities

6

Rental of Holiday Homes

91,800

-

91,800

79,365

Support

44,351

-

44,351

40,870

Total

137,153

-

137,153

123,346

NET INCOME/(EXPENDITURE)

(33,725

)

7,827

(25,898

)

1,796

Transfers between funds

14

5,240

(5,240

)

-

-

Net movement in funds

(28,485

)

2,587

(25,898

)

1,796

RECONCILIATION OF FUNDS

Total funds brought forward

354,198

9,932

364,130

362,334

TOTAL FUNDS CARRIED FORWARD

325,713

12,519

338,232

364,130

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

2026

2025

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

10

102,369

-

102,369

115,804

CURRENT ASSETS

Debtors

11

7,808

-

7,808

12,620

Cash at bank and in hand

242,241

12,519

254,760

263,936

250,049

12,519

262,568

276,556

CREDITORS

Amounts falling due within one year

12

(26,705

)

-

(26,705

)

(28,230

)

NET CURRENT ASSETS

223,344

12,519

235,863

248,326

TOTAL ASSETS LESS CURRENT LIABILITIES

325,713

12,519

338,232

364,130

NET ASSETS

325,713

12,519

338,232

364,130

FUNDS

14

Unrestricted funds

325,713

354,198

Restricted funds

12,519

9,932

TOTAL FUNDS

338,232

364,130

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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 22 September 2026 and were signed on its behalf by:

Ms H Gray - Trustee

1.	STATUTORY INFORMATION

Crathie Opportunity Holidays is a private charitable company limited by guarantee and registered in Scotland. The charity's registered number, company number and registered office can be found in the Reference and Administration Details section of the Report of the Trustees.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying mount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements or estimation uncertainties have a significant effect on amounts recognised in the financial statements:-

Critical Judgements

Depreciation

Depreciation is calculated to fully write off the cost of assets over their estimated useful life. The Trustees estimate the useful life of each asset. Details of the depreciation charge in the period is in note 10.

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.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grant income is recognised when there is reasonable assurance that the charity will comply with any conditions attaching to the grant and the grant will be received.

Charitable Activity income is recognised when the charity is entitled to it and represents amounts receivable for goods and services provided in the normal course of business.

Other trading income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business.

Income from short and long term deposits are recognised upon receipt.

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.

Tangible fixed assets

Tangible fixed assets costing more than £250 are capitalised and carried at cost. Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets over their expected useful lives. The rates applied are:

Tenants Improvements

5% straight line

Computers

33.3% straight line

Fixtures & Fittings

15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying amount of the asset, and is recognised in net income/(expenditure) for the year.

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered and impairment loss.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

trustees of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to expenditure on a straight line basis over the term of the relevant lease.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged to the as an expenses as they fall due.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

3.	DONATIONS, LEGACIES AND GRANTS

2026

2025

£

£

Donations

3,760

3,938

Gift aid

356

327

Grants

7,022

6,500

11,138

10,765

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

2026

2025

£

£

Braemar Hydro Scheme

-

500

Caroline Spence Fund

5,000

6,000

Co-op

2,022

-

7,022

6,500

4.	OTHER TRADING ACTIVITIES

2026

2025

£

£

Fundraising events

13,389

22,176

5.	INVESTMENT INCOME

2026

2025

£

£

Deposit account interest

5,176

7,661

6.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs

costs

Totals

£

£

£

Rental of Holiday Homes

91,800

-

91,800

Support

41,892

2,459

44,351

133,692

2,459

136,151

7.	NET INCOME/(EXPENDITURE)

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

2026

2025

£

£

Depreciation - owned assets

17,728

17,602

Other operating leases

7,255

6,209

Independent examination

2,554

2,414

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

9.	STAFF COSTS

2026

2025

£

£

Wages and salaries

42,157

38,765

Other pension costs

1,949

1,991

44,106

40,756

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

2026

2025

Part time

3

3

No employees received emoluments in excess of £60,000.

10.	TANGIBLE FIXED ASSETS

Fixtures

Tenants

and

Computer

Improvements

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2025

178,397

54,758

1,861

235,016

Additions

-

4,293

-

4,293

Disposals

-

(495

)

-

(495

)

At 31 March 2026

178,397

58,556

1,861

238,814

DEPRECIATION

At 1 April 2025

97,457

21,448

307

119,212

Charge for year

8,920

8,194

614

17,728

Eliminated on disposal

-

(495

)

-

(495

)

At 31 March 2026

106,377

29,147

921

136,445

NET BOOK VALUE

At 31 March 2026

72,020

29,409

940

102,369

At 31 March 2025

80,940

33,310

1,554

115,804

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

-

192

Prepayments and accrued income

7,808

12,428

7,808

12,620

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Accruals and deferred income

26,705

28,230

This includes deferred income of £23,416 in respect of deposits and holiday bookings for the period post year end (2025 £15,418).

13.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

5,009

5,009

The operating lease represents leases of the office, outbuildings and the ground.

The original lease of the office and outbuildings ran until 28th February 2021 and has been extended until 30th August 2040 but can be cancelled with a year's notice. There is an option for the lease to be extended until 1st March 2060.

The lease of the ground runs until 31st July 2171. This lease terminates if the above lease is terminated.

14.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.4.25

in funds

funds

31.3.26

£

£

£

£

Unrestricted funds

General fund

223,273

(14,667

)

5,240

213,846

Designated Fund

130,925

(19,058

)

-

111,867

354,198

(33,725

)

5,240

325,713

Restricted funds

Holiday Fund

3,932

305

(2,000

)

2,237

Garden Improvement Fund

6,000

2,022

-

8,022

Cottage Refurbishment

-

5,500

(3,240

)

2,260

9,932

7,827

(5,240

)

12,519

TOTAL FUNDS

364,130

(25,898

)

-

338,232

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

103,428

(118,095

)

(14,667

)

Designated Fund

-

(19,058

)

(19,058

)

103,428

(137,153

)

(33,725

)

Restricted funds

Holiday Fund

305

-

305

Garden Improvement Fund

2,022

-

2,022

Cottage Refurbishment

5,500

-

5,500

7,827

-

7,827

TOTAL FUNDS

111,255

(137,153

)

(25,898

)

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.4.24

in funds

funds

31.3.25

£

£

£

£

Unrestricted funds

355,177

(3,700

)

2,721

354,198

Restricted funds

Holiday Fund

5,712

72

(1,852

)

3,932

Garden Extension Fund

1,445

(576

)

(869

)

-

Garden Improvement Fund

-

6,000

-

6,000

7,157

5,496

(2,721

)

9,932

TOTAL FUNDS

362,334

1,796

-

364,130