Chartty number: 1127796 THE JOHN scorr CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
TrIE JOHN scorr CHARITABLE TRUST CONTENTS Page Reference and Administrative Detalls of the Charity, its Trustees and Advisars Trustees. Rèport Independent Examlnerfs Rèport Statement of Financlal A¢tlvltiès Balance Sheet Notes to tha Financial Statements 8-16
THE JOHN SCOTh CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARIry, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustee5 Andrew Wemyss. Chairman Andrew Scott Daniel Scott Jghn Claveting Thomas Monteith Charty registered number 1127796 Principal officè Torrie House Newmills Dunfem)line 12 8HH Accountants Ryecroft Glenton Chartered Accountants 32 Poruand T&rrace Newcasd& upon Tyno NE2 1QP Bankors C Hoare & Co 37 Fleet Street London EC4P4DQ Solicitors Monleith Solicitors Park Farrn Naim IV12 5RZ Page 1
THE JOHN scorr CHARrrABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The TNste&s present their annual report together with the financial statements of the Charityfor the yèar 1 April 2024 to 31 March 2025. Objectives and actlvitiès Poll¢les and objectivgs The objects of the Trust are: Th? acfvancèmènt of the edulxtion of. and the relièf of poverty among, young people (being principally bul nol exclusively thuse undeF 251 and in particular, but wtthout restriction, thè support of youth clubs and similar bodies promoting the recreation and the personal, social and economic development of disadvantaged young people in London and in and around Greenock and Wemyss by the provision of grants, goods and seNices,' and bl The relief of suffering and alleviation of hardship caused by injury, illness or povgty among present or former members Df His Majestys Armed For and their families. • Grant-making policie$ Grants are made by the Charitsble Trust on application in writing. Success of the applic2tion Is subject to the TTUSte2s' decision to support and is olependent on its rnerit within the objects of the Trust. Main activities undertaken to further the Charity's purposes for thè publi¢ benefit In setting objectives and planning for activities. the Trustees havè gDien due (nSIderatIon tD general guldance published by the Charity CDmmission relating to public benefit, including the guidance 'Public benefEt running a charity IPB2)'. Achievements and perfomance Ravièw of activities During the ar the TTUSt has made grants to thity five organisations totalling £242.00012024 = £242,500- thirty nine organisationsl, each providing substantial benefft to dpierse members of the public. These are detailed at note 6 to the financial statemeNts. Income was generated In the year of £213,983 12024: £239,296) from investments and management fees were incurred in the year of £86.937 {2024= £80,725). Support costs of £27.45812024= £14,323) were incurred in the year. The Trust reports an operating deficit of £142,412 12024: deficit of £98,252) on activities before gaiAS on the value of its investrnents of £91,84712024- £1,243,575). Investment policy and performance Thè Trustees have instructed the investment managers to invest in a portfolio for maximum growEh. Due tr) Ihg turbulent stotk market conditions gains of £91,847 h8cI occurred in the yèar, being £916,481 of gains on the salè of investments offset by£824,634 of unrealised losses. Page 2
THE JOHN scorr CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Financial rèview Golng concern Having made appropriate enquiries, the Trusleos are satlsfied that the Charity has adequatè resources to continue in operational existen for the foreeable future. For this reason, they continue to aclopt the going concÈm basis in preparing the financial slatemenls. • Resems policy The Trustees intend to provide grant 8ssistsnce lo the level of the Trust's income in each year. For this reason, they do nDt intènd to build a reserve beyond the funds undèr managemen( which provides SLrfftci@nt funds for current needs. StN¢ture, govemance and managemant Constltution The John Sox)tt Charitsbl8 Trust IS 8 charty registered in England, number 1127796, and is constituted under a Declarstion of Trust on 22 December 2008. Methods of appolntment or election of Trustsès The managemènt of the charity is the responsibility of the Trustees who are elected and Copted under the terms of the Declaration Df Trust dated 22 December 2008. Mr Andrew Wemyss (who Is *iso a Truslèa) has the rtghl to appoint and remove Trustèes. Thereafter, Trustees will be appointed by resolution of the Trustees. • Organtsational structure and decisionwmaking policies The Trustees must hold at least one meeting each year and such other meetings as may be expedient. A meeting is quorate if there be Nyo Trustees present, one of which is Mr Andrew Wemyss. Meetings may take placè in person or by suitable electronic means. Resolutions are detemined by simple majority. with the chairman of the meeting having the second or casting vote.. each Trustee has one vote on each resolutiDn. The Trtjst ¢ontsot is Mrs Pamela Hydgr al the Prfncipal Office address. Shè manages the clay-t(xlay business of the Trust. Policies adopted for the induction and training of TrustÈe5 Mr Andrew Wemyss appoints Trustees following consu]t8tion with them as lo their suitsbility and following agr8em&nl that they are aware of their duties as Truste9s and speolffcally the objects of the Trust. Plan$ for future periods Thè Trustees will continue to consider grants to applications within the objects of the Trust Page 3
THE JOHN SCOTh CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statèment of Trustees, responsibilities The Trustees ar? responsible for pparIng the Trustees, Report and the financial statements in aGGordancè with applicable law and United Kingdom Accounting Standards (Unitèd KingdoEn Generally ACpted Accounting Praelicel. The law applicable to chartties in England & Wales requires the Trustees to prepare financial statements for eatth financial year which give a tnje and fair view of the slate of affairs of the Charty and of its incoming resources ancl application of reSoUrs, including its income and expendfture, for that period. In preparing Ihes financial statements, the Trustees are required to= select Suttsble accounting policies and thèn apply them ¢onsistently,' observe the methods and principles of the Charities SORP IFRS 1021.. makè judgments and accounting estimates that arè reasonablè and pruclent,- stste whether applicable UK Accounting Standards IFRS 102) have been followed, subject lo any material departures disc105ed and explained in the financial statemènts., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees arè rèspDnBible for keeping adequate account"Ag rerdS that are sufficient to show and èxplain the Charivs transactions and disclose with reasDnable accuracy at any time the financial position of the Charity and enable them to ensure that the financial slalemenls cornp]y with the Charities Act 2011. the Charity (Aecounls and Reports) RegulatiDns 2008 and the provisions of the Trust d*d. They are a150 responsible for safeguarding the assets of the Chartty and hence for taking reasonable steps for the prevention anrl d8lection of fraud and other irregularities. Approved by ordgr of the members of the board of Trustè85 on 18 November 2025 and signed on their behalf by.. Andrew Wemyss (Chair of Trustees) Page 4
THE JOHN SCOTT CHAR ABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 IndependÈnt Examlner's Report to th8 Trustees of The John Scott Charttable Trust I'the Charity.) We rgport to the chartty Trusloes on our examination of the accounts Df the Charity for the year ended 31 March 2025. Responsibilitlgs and Basis of Report As the Trustees of the Charty you are responsible for the pr?paration of the accounts in accordan with the requirements of the Charities Act 2011 I'the 2011 AcYI- We report in respect of our examination of the Charitys accDunts c2rried Dut under section 145 of the 2011 Act and in carrying out our examination we have followèd the applicable Directions given by tha Charity Commission under section 14515llbl of the 2011 Aet. Independent Examinerf5 Statement Your attentlDn is drawn lo the fact that the Charity has prepared the accounts in a¢¢ordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in acGDrd3nce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preferen to the ABcounling and Reporting by Charities.. Slalement of Recommended Pradice issued on 1 April 2005 which is referred to in the extant regulations but has been wtthdrawn. We understand that this has been done in order for the accounts to proifjde a true and fair view in accordancg with the Generally A¢pted Accounting Practi¢9 8ff&clive for reporbng periods beginning on or after 1 January 2015. We have Gompletèd OL¢r examination. Wa confirm knal no matters have come to our attention in connection with the examination giving us ¢ause lo beliève that in any material respect= accounting records were not kept in respect of the Charity as required by section 130 Df the 2011 Act. or the accounts do not accorf with those recorKls.- or the accounts clo not comply with the applicable requirements (X)nrnIng the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requir&rnent that the accounts give a 'lru& and fairf view which is not a matter considered as part of an independent examination. We have no concttrns and have come across no other matters in connection wth the examination to which attention should be clrawn in this fftport in ordèr lo enable a proper understanding of the accounts to be reached. This report is mad& solely to the Charity's Twstees, as a body. in accordanco wlth Part 4 of the Charities IAccDLJnts and Reports) Regulations 2008. Our work has been undertaken so that we might slate to the Charity's Tmslees thDse matters we are rèquired lo state to thèm in an Independent Examiner's Report and for no other purpose. To the fullest extent pem)itted L)y Jaw, we do nDt accept or assume fftsponsibilty to anyone other than the Charity and the Charivs Trustees as 8 bocty, for our work or for this report. Signed= Dated= 20 November2D25 DebDrah Graham FCA Ryecroft Glenton Chartered Accountsnts 32 Portland Terrace Newcastle upon Tyne NE2 1QP Page 5
THE JOHN scorr CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcled funds 2025 Total fund 2025 Totsl funds 2024 Note Income from: Investments 213,983 213.983 239.29S Total income 213,983 213.983 239.296 ExpÈnditure on". Raising funds Charitable activities 86.937 269,458 86.937 269,458 80,725 25S.823 Total expenditurg 356,395 356,395 337,548 Net expendlture beforè nèt gains on investments Nel gains on invéstments 1142.4121 91.847 1142,412) 91.847 (98,252) 1,243,515 Net movement in funds 150,565) 150.5651 1, 145,323 Reconciliation of funds: Total funds brought forward Nat movement in funds 11440.405 150.5651 14,440,405 150,565) 13,295,082 1, 145,323 Total funds carried forward 14,389,840 14.389,84D 14,440.405 The Ststoment of Financlal Acl6v]tles Includès all gains and losses rpcognised in the year. The note5 on pages 8 to 16 form part of th8s8 financial st8t&ments. Page 6
THE JOHN SCOTh CHAR]TABLE TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assèts Investments 10 14.291,658 14.299,691 14.291,658 14,299,691 Current assets Debtors Cash at bank and in hand 19,655 109,202 17,112 153,833 128,857 170.945 Current liabilities Creditors= amounts falling due wthin onè year 12 130,674 (30,231) Net Gurrent assots 98,182 140,714 Total assets less ¢urrent liabiltties 14389,840 74,440,405 Total net assets 14,389.840 74.440.405 Charity funds Unrestricted ftjnds 14 14,389.840 14.440,405 Total funds 14,389.840 14,440,405 The financial statèments werè appro signed on their behalf by. èd and authorisèd for issuè by thè Trltsteas on 18 November 2025 8nd Andrew Wemyss The notes on pages 8 to 16 form part of the statèmants. Pagè 7
THE JOHN SCOTh CHARtTABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Genèral infom)atitsn The Charttable Trust is reglslered with the Charity Commission for Englancl and Wales, number 1127796. Ivs principal administr3lion address is Torrie House, Newmills, Dunfermline, KY12 8HH. The Charitable Trust 15 a grant-making chaTrty. Accountlng pollcies 2.1 Basis of preparation of financial statèments The financial statemènts have been prepad in accordance with the Chartbes SORP IFRS 1021 Accounting and Reporting by Charities= St3temènt of Recommended Practice applicable lo charities prpparing their accounts in accordance with th? Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (èffèdive 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial slalements have been prepared to give a Ywe and fairf view and have departed from the Chatibes (Accounts and Reports) Regulations 2008 only to the extènt required lo provide a 'true and fairf view. This departure has involved following the Gharities SORP IFRS 1021 published in October 2019 rather than thè Accounting and Reporting by Charities.- Statement of Rewmmended Practice affective from 1 Aplll 2005 which has sin¢e been withdrawn. The John Scott Charitable Twst meets the definition of a public benefit entrty under FRS 102. Assets and liabilities are initially r&¢ognisèd al historical cost or transaction valué unless othenlSe stated in the relevant accounting policy. 22 Golng ooncern Al the time of the approving the financial slatemenls, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the ft)reseeable future. Therefore the Trustees continue lo adopt thé going concem basis of accounting in preparing the financial statements_ 2.3 In¢ome All income is recognised once the Charity has entitlement to the incotne, it 15 probable that th& incDme will be receNed and the amount of income ceIVab]È can be measured reliably. Income lax recoverable in r&lation tr) donations received under Gift (1 or deeds Df covenant is recognised at the time of thè donation. 2.4 Expenditure Expenditure is recognised once there is a legal or constwctive obligation to translèr economic benefit to a third party. it is probable that a transfer of èconomitt benefits will be required in settlement and the amount of the obligation can be measured reliabiy. Exp&nditure on raising funds includes all eXpendir& incurred by tha Charity to manage tts investm&nt portfolio. Expenditure on charitable activities is incurred on dIreCY undertaking the activibes which further the Charitys objectives. as well as any associatecl support costs. Page 8
THE JOHN SCOTh CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policie5 Icontinuedl 2A Expenditure {contlnued) Grants payabl? are charged in the year when the offer is made except in those casgs where the offer is condition21, such grants being recggnised as expenditure when the condititsns attaching are fulfilled. Grants offered subject tr) conditions which have not been met at the year end are noted as a commitmènt, but not accmed as expenditure. Atl expenditure is inclusive of irrecoverable VAT. 2.5 Interest receivable Intest on ftjnds held on deposit is Includ when rècèivablè and the amount can be measured reliably by the Charity-, this is nomially UPDn nottfication of kne interest paid or payable by th& institution with whom the funds are depDSltecl. 2.6 Investments Fixed asset investments are a fomi of financial instrument and are initialty cognISed al th&ir transaction cost and subsequently measured at fair vallte at the Balanc& Sheèt datè, unléss thè value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised. are cotnbined and presented as 'GainsllLossesl on investments. in the Statement of Finan¢ial Act¢vities. 2.7 Debtors Trade and other debtors are recognised at thè setdemenl amtsunt after any trade discounl off&red. Prepayments are valued at Ihe amount prep8id net of any trade dtscounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of thr98 months or18ss from thè data of acquisition or opening of the depostt or similar account. 2.9 Liabilities Liabilities are recognisèd when there is an obligation at the Balance Sheet date as a result Df a past event, it Is probèble th8t a transfer of economic benefit will be required in settlement, and the amount of the setuement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates il will pay tr) sèttlè th8 debt or th8 amount it has received 8$ 8dvan¢ed payments for the goods or services it must provide. 2.10 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherdnce of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and loss8s are allocated to the appropriate fund. Page 9
THE JOHN sco CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment income Unrestricted funds 2025 Total funds 2025 Income from local listed investments Investment Incmè from bank depDsits 212,364 1,619 212,364 1,619 213.983 213,983 Llnrestricted funds 2024 Total funols 2024 Income from loc81 list8d inv8stments Investment income from bank deposits 237.308 1,988 237,308 1,988 239,296 239.296 Investment management costs Unrestricted funds 2025 Total funds 2025 Investment management fees 86,937 86,937 Unreslricted funds 2024 Total funds 2024 Investment management fpes 80,725 80,725 Page 10
THE JOHN SCOTh CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 FAARCH 2025 Analysis of grants Grants to Institutions 2025 Total funds 2025 Grants. Dire¢t Costs 242,000 242,000 Grgnts to Institulrons 2024 Total funds 2024 Grants, Direct costs 242,500 242,5DQ The Charity has made the followng material grants to institutions during the year.. 2025 2Q24 Name of institution Oan Youth Trust The Royal British Legion Industries SSAFA SEAMAB 43,000 39,000 20,000 15,000 10.000 10,000 10,000 5,000 35,000 20,000 20,OOD 10,000 10,000 io,cyoo 5,OLIO 10,000 20,000 10,OOQ Erskine Hospital The Scots Guard Charity Link Living The Royal Marines Charity Greenook Medical Aid Society YE Young Carers 152.000 150,000 Other grants £5.000 and bEIDW lo 27 institullons12Q24- 29 institutions) 90,000 92.500 242,000 242.500 Page11
THE JOHN sco CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure on Gharltable activities Summary byfund type Unrestricted funds 2025 Total 2025 Direct costs 269,458 269,458 Unrestricted funds 2024 Total 2024 Dlrect wsls 256.823 256,823 Analysis of expenditure by activitles Grant funding of activities 2025 Support costs 2025 Total funds 2025 Direct costs 242,000 27,458 269.458 Gr8nt fvnding ol activities Support Gosts Total funds 2024 2024 2Q24 Direct costs 242,500 f4.323 256,823 Page 12
THE JOHN SCOTh CHARITABLE TRUST NOTES TO THE FINANCtAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities (¢ontinuedl Analysis ofsupport Costs Total tunds 2025 Activitias 2025 Secretarial costs Accountancy Legal costs Independent examlnels fee Sundry expenses 17,510 6,225 1,458 1,750 515 17,510 6.225 1,8 1,750 515 Total 2025 27,458 27,458 Tol&l funds 2Q24 Atrtivilres 2024 Secretsrial costs 4,800 3, 780 2,322 1.500 603 1.378 4,800 3,780 2,322 1,50 603 1,318 Accountancy Legal costs Independent examiner's fee Sundry expenses Trustees. att8ndance at AGM Tot812024 14,323 14,323 Indèpendènt èxaminèfg remuneration The independent examiner's remuneration amounts to an Independent examiner fee of £1,750 [2024 - £1,500), and accounts preparation fees of £4,42512024- £4,140). Trustees. remuneration and expenses During the year. no Trustees 1Ved any remuneration or other benefits PQ24- £NIL). During the year ended 31 March 2025, expenses totalling £NIL were reimbursed Dr paid directly lo Trustè8 (2024 £1,318 to f Tmstee). Expenses covered trav?1 and awDmmodation costs incurred by trustees in attending the AGM. Page 13
THE JOHN sco CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Fixed asset Investmènts Cash held for ro- investment Listed Invèstments Total Cost or valuation Al 1 April 2024 Additions Disposals Revaluations 13,832.443 467,248 14,299,691 6,820,019 7.390,328 14,210,347 17,178.9081 17,131.3191 114,310,227} 91.847 91,847 At 31 March 2025 13.565,401 726.257 14.291,658 Net book value At 31 Mar¢h 2025 13,565.401 726,257 14.291,658 At 31 March 2024 13,832.443 467,248 14,299,691 11. Debtors 2025 2024 Due wlthln one year Other debtors 18.055 1.600 17,112 Prep3yments and accwed incorne 19.655 77,112 Page 14
THE JOHN SCOTT CHARrrABLE TRUST NOTES TO THE FINANCtAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Credltors: Amounts falling due wtthin one year 2025 2024 Accruals and deferrèd incDmè 30,675 30,231 13. Financial instruments 2025 2024 Financial assets Financial assets measured at fair value through income and expenditure 109.202 153,833 14. Statèment 0fndS Statemènt of funds - ¢urrent year Balance at 31 March 2025 Balance at 1 April 2024 Galn (Lossès) Income Expendlture Unrèstricted funds General Funds 14,440,405 213,983 1356.3951 91.847 14.389,840 Stat8m8nt of funds - prior yèar B818nce at 31 March 2024 B81ance at 1 Apnl 2023 Garns/ (Losses) Income Expenditure Unrestricted funds General Funds f3,295,Q82 239.296 f337,548) 1,243,575 14,440.405 P2ge 15
THE JOHN scorr CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 15. Analysis of net assets between fvnds Analysis of net assets bètween funds - currant year Unrestricted funds 2025 Total funds 2025 Fixed asset investments Current assets Creditors due within one year 14,291,658 14,291,658 128,857 128,857 130,6751 130,6751 Total 14,389,840 14,389.840 Analysis of net assets bgtween funds - prlor year Unrastrirted funLIs 2Q24 Tot&1 fvnds 2024 Fe asset investments Current assets Creditors due within one year 14,299.697 14.299.6gi 170.945 ITO,945 f30.231J {30,231) Total Y4,440.405 14,440,405 16. Related party tran$aGtion5 Included in SUPPDrt costs in note 7 above are fee5 paid to Monteith Solicitors of £1.215 excluding VAT {2024 £1,935) for legal advice. Thomas Mont8ith, a Trustee, is a partner of Monl&ith Solicttors. Page 16