ROTHES CHARITABLE TRUST
REPORT AND ACCOUNTS
YEAR ENDED 31 DECEMBER 2025
Charity number: 1150364
ROTHES CHARITABLE TRUST
I N D E X
Year ended 31 December 2025
| Page | |
|---|---|
| General information | 2 |
| Report of the Trustees | 3 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 |
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ROTHES CHARITABLE TRUST
G E N E R A L I N F O R M A T I O N
Year ended 31 December 2025
Established by deed 12 December 2012 Charity number 1150364 Trustees R W J Parry J P MacHale M A MacHale Address 22 Chancery Lane London WC2A 1LS Bankers NatWest 16 Library Place St Helier Jersey JE4 8NH Objects Such charities or for such exclusively charitable purposes as the Trustees may determine. Accumulation The Trustees have power to accumulate the whole or part of the income of the Trust Fund for the period of 21 years, from the date of settlement.
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R E P O R T O F T H E T R U S T E E S
ROTHES CHARITABLE TRUST
Year ended 31 December 2025
The Trustees submit the annual report together with the accounts of the Trust for the year to 31 December 2025. The accounts comply with current statutory requirements and are in the format prescribed by 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) (effective 1 January 2019). The report should be read in conjunction with the general information provided on page 2.
Administrative information
The Trust is an unincorporated trust, constructed under a trust deed dated 12 December 2012. The charity is registered with the Charity Commission in England and Wales and its registration number is 1150364. The address of the charity is shown on page 2.
Objectives and achievements
The objective of the Trust is to provide donations and grants for charitable purposes to other charities and voluntary bodies, or for the benefit of the general public.
During the year, the Trust made donations totalling £150,100 (2024 - £118,500).
Grant making policy
The Trust actively seeks projects to fund and does not accept unsolicited applications for grants.
Structure, governance and management
The current Trustees have the power to appoint new Trustees. The induction of any new Trustee includes awareness of the history and approach of the charity. A Trustee’s responsibilities lie with the individual Trustee. A new Trustee would receive copies of the previous years’ accounts.
The Trustees who have served during the year are those shown on page 2.
Organisation
The Trust’s affairs are carried on by its Trustees, who meet as necessary for this purpose.
Financial review and risk management
There was a net expenditure for the year of £152,376 (2024 – net income of £179,013). The total unrestricted funds at the balance sheet date were £412,089 (2024 - £414,729). Under the powers of the trust deed the trustees transferred £150,100 (2024 - £118,500) from the expendable endowment to cover the donations made in the current year.
The major risks to which the charity is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate those risks.
Reserves policy
It is the Trustees policy not to retain reserves as overheads are low and the grants that are made vary according to the income received. As such no reserves are required to ensure the charity’s continued operations. At the balance sheet date the balance on the unrestricted reserves was £412,089 (2024 - £414,729) and on the expendable endowment was £92,968 (2024 - £242,704).
Public benefit
The Trustees, having regard to the Public benefit guidance published by the Charity Commission in accordance with the Charities Act 2011, consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in the section 4 of the same act.
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ROTHES CHARITABLE TRUST
R E P O R T O F T H E T R U S T E E S
Year ended 31 December 2025
Trustees’ responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
J P MACHALE For the Trustees
2026 13th May
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ROTHES CHARITABLE TRUST
S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S
Year ended 31 December 2025
| Unrestricted Expendable Income Endowment Note fund fund £ £ Income and endowments from: Donations 2 - - Interest received - 364 Total incoming resources - 364 Expenditure on: Charitable activities 3 152,740 - Total expenditure 152,740 - Net (expenditure)/income (152,740) 364 Transfer between funds 150,100 (150,100) Net movement in funds (2,640) (149,736) Reconciliation of funds: Fund balance brought forward at 1 January 414,729 242,704 Fund balance carried forward at 31 December 412,089 92,968 |
2025 Total £ - 364 364 152,740 152,740 (152,376) - (152,376) 657,433 505,057 |
2024 Total £ 300,027 - 300,027 121,014 121,014 179,013 - 179,013 478,420 657,433 |
|---|---|---|
The Statement of Financial Activities includes all gains and losses for the year. All income and expenditure derives from continuing activities.
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ROTHES CHARITABLE TRUST
B A L A N C E S H E E T
At 31 December 2025
| Note 2025 £ Fixed assets Programme related investments 8 425,876 425,876 Current assets Cash at bank and in hand 100,089 Debtors 6 - 100,089 Creditors: amounts falling due within one year 7 (20,908) Net current assets 79,181 Total assets less current liabilities 505,057 The funds of the charity Expendable endowment funds 92,968 Unrestricted income funds 412,089 505,057 The financial statements on pages 5 to 11 were approved by Trustees on and were signed by:- 13th May |
2024 £ 425,876 425,876 252,277 25,000 277,277 (45,720) 231,557 657,433 242,704 414,729 657,433 2026 |
|---|---|
R W J PARRY Trustee
J P MACHALE Trustee
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N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
ROTHES CHARITABLE TRUST
Year ended 31 December 2025
1. Accounting policies
Basis of preparation
The accounts are prepared on a historical cost basis, in accordance with the Statement of Recommended Practice applicable for 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) – Charities SORP (FRS 102), the Financial Reporting Standards applicable to the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
The Rothes Charitable Trust meets the definition of a public benefit entity under FRS 102.
Legal form
The Trust is an unincorporated trust, constructed under a trust deed dated 12 December 2012. The charity is registered with the Charity Commission in England and Wales and its registration number is 1150364. The registered address of the charity is 22 Chancery Lane, London, WC2A 1LS.
Funds structure
The charity has an expendable endowment fund created by a gift. The income of this fund is unrestricted. The terms of the expendable endowment allow the capital of the fund to be spent if the trustees so determine.
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects.
Income and expenditure
Donations receivable are recognised once the charity has entitlement to the donations, it is probable that the donations will be received and the monetary value of the donations can be measured with sufficient reliability.
Donations of programme related investments are recognised once the charity has entitlement to the donations, it is probable that the donations will be received and the fair value of the donation can be measured reliably. The fair value is based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset.
Donations and grants payable are included in the Statement of Financial Activities when approved by the Trustees and agreed with donee.
All other income and expenditure is recognised on an accruals basis.
Programme Related Investments
Programme related investments relates to a property owned by the trustees and let to the Medaille Trust (charity registration number 1117830) rent free. Programme related investments are carried at cost less impairment. Where investments are donated, cost equates to the fair value at the time of donation.
Going Concern
The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. As a result, the accounts have been prepared on a going concern basis.
Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
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ROTHES CHARITABLE TRUST
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 31 December 2025
| 2. Donations and legacies Cash donations Donation of shares Gift aid receipts |
2025 £ - - - - |
2024 £ 100,000 175,027 25,000 |
|---|---|---|
| 300,027 |
Cash donations, donation of shares and the subsequent gift aid were attributable to the expendable endowment fund in both years.
| 3. Charitable activities |
2025 | 2024 |
|---|---|---|
| £ | £ | |
| Donations to institutions (note 4) | 148,100 | 118,500 |
| Donations to individuals (note 4) | 2,000 | - |
| Governance costs (note 5) | 2,640 | 2,514 |
| 152,740 | 121,014 |
Expenditure on charitable activities in both years was attributable to the unrestricted income fund.
| 4. Donations to institutions and individuals 2025 £ During the year grants were made to the following institutions: Alistair Roberts Memorial Fund 100 Andover Food Bank - BEAT - Brain Research UK 10,000 Brendoncare 5,000 CDP St Peters & Winchester Martyrs 17,000 Countess of Brecknock Hospice 5,000 Countryside Alliance Foundation 250 Crisis 25,000 Fast Cure Angelman Syndrome - Fire Fly Trust 5,000 Hampshire and Isle of Wight Air Ambulance - Little Rock School Nairobi - Mayfield School - Rainbow Trust Children’s Charity 5,000 Salvation Army 1,500 Save the Elephants 1,000 Save the Rhino 32,000 Seenaryo 1,000 St John Ambulance 250 St Peters for CWP DRC Congo School 1,000 The Dever Society 1,000 Carried forward 110,100 |
2024 £ - 10,000 1,000 10,000 1,000 17,000 5,500 - 25,000 2,000 - 5,000 2,000 1,000 5,000 1,000 - 2,000 - - - - |
|---|---|
| 87,500 |
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ROTHES CHARITABLE TRUST
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 31 December 2025
| 2025 £ Brought forward 110,100 The Grange Festivals 32,000 The Gurkha Welfare Trust - Winchester Martyrs 1,000 Wonston Holy Trinity Church 5,000 148,100 2025 £ During the year grants were made to the following individuals: Jane Vicat 2,000 2,000 |
2025 £ Brought forward 110,100 The Grange Festivals 32,000 The Gurkha Welfare Trust - Winchester Martyrs 1,000 Wonston Holy Trinity Church 5,000 148,100 2025 £ During the year grants were made to the following individuals: Jane Vicat 2,000 2,000 |
2024 £ 87,500 25,000 1,000 - 5,000 118,500 2024 £ - - 2024 £ 1,734 780 2,514 2024 £ 25,000 25,000 2024 £ 19,720 26,000 45,720 |
|---|---|---|
| 5. Governance costs Accountancy fee Independent examiner’s fees |
2025 £ 2,640 - 2,640 |
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| 6. Debtors: amounts falling due within one year Accrued gift aid income |
2025 £ - - |
|
| 7. Creditors: amounts falling due within one year Accruals Donations payable |
2025 £ 17,908 3,000 20,908 |
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ROTHES CHARITABLE TRUST
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 31 December 2025
8. Programme related investment
| At 1 January 2025 At 31 December 2025 |
£ 425,876 425,876 |
|---|---|
The basis of the valuation on initial recognition as the property was donated was the open market. The property has been reviewed for impairment and has a carrying amount at historical cost of £425,876.
9. Trustee remuneration and related party transactions
During the year, the Trust had no employees and the Trustees received neither remuneration nor reimbursement of expenses.
The total cash donations received without conditions from the trustees, net of gift aid, totalled £nil (2024 - £100,000).
Donations in the form of shares received without conditions from the trustees totalled £nil (2024 - £175,027).
There were no other related party transactions during the reporting period that require disclosure in the financial statements.
10. Contingent asset
At 31 December 2025, the Trust is entitled to deferred consideration of £40,551 (2024 - £40,551) from the sale of shares in Prytania Services Ltd. The amount is currently held in escrow and is contingent on certain post-completion conditions being met.
The Trustees consider receipt of the funds to be probable, but not virtually certain. Accordingly, no asset has been recognised. An asset will be recognised if the inflow becomes virtually certain.
11. Analysis of funds
| 1 Analysis of fund movements Unrestricted fund Expendable Endowment fund |
January Incoming Resources Transfers 31 December 2025 resources expended 2025 £ £ £ £ £ 414,729 - (152,740) 150,100 412,089 242,704 364 - (150,100) 92,968 657,433 364 (152,740) - 505,057 |
|---|---|
The above funds are explained further in the accounting policy on page 7.
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ROTHES CHARITABLE TRUST
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 31 December 2025
Analysis of funds between net assets
| Unrestricted | Unrestricted | Expendable | Total | ||||
|---|---|---|---|---|---|---|---|
| Income | Endowment | ||||||
| fund | fund | 2025 | |||||
| £ | £ | £ | |||||
| Fund balances as at 31 December | 2025 are represented by: | ||||||
| Programme related investments | 425,876 | - | 425,876 | ||||
| Cash | 4,121 | 95,968 | 100,089 | ||||
| Creditors | (17,908) | (3,000) | (20,908) | ||||
| Net assets | 412,089 | 92,968 | 505,057 | ||||
| Prior year - Analysis of funds | |||||||
| 1 January | Incoming | Resources | Transfers 31 December |
||||
| 2024 | resources | expended | 2024 | ||||
| £ | £ | £ | £ |
£ | |||
| Analysis of fund movements | |||||||
| Unrestricted fund | 417,243 | - | (121,014) | 118,500 | 414,729 | ||
| Expendable Endowment fund | 61,177 | 300,027 | - | (118,500) | 242,704 | ||
| 478,420 | 300,027 | (121,014) | - | 657,433 |
The above funds are explained further in the accounting policy on page 7.
Analysis of funds between net assets
| Unrestricted Expendable Income Endowment fund fund £ £ Fund balances as at 31 December 2024 are represented by: Programme related investments 425,876 - Cash 8,573 243,704 Debtors - 25,000 Creditors (19,270) (26,000) Net assets 414,729 242,704 |
Total 2024 £ 425,876 252,277 25,000 (45,720) 657,433 |
|---|---|
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