THE LONDON SCOTnsH REGIMENT BENEVOLENT FUND FINANCIAL sfATEMENTS FOR THE YEAR ENDEO 31 MARCM 20Z5 Page I Indtx Pages2&3 Referen¢e and Admln15tratlve Informatlon Pa8es 4tt17 Reportof theTrustee$ Pa#• 8 Independent ExamSneI5 Report Pale 9 Statemént of Flnanclal Artl¥ltles Page 10 Balance 5h••t Page5 llto 14 Notes to the Fknandal Ststements
THE LONDON SCQTTISH REGJMENT BENEVOWFUND Reglstered Charlty No. 207482 REFERENCE ANO ADMINISTRATIVE INFORMATION PRESIDENT VACANT VICE PRESIDENTS Colonel J Aclemence C8ETLI FCA Ideceased March 21st 20251 Colond S H Henwood CBETD G C Kellas Esq P J Layden TD A C MoThis Esq CHAIRMAN S M Kernpster Esq VICE C&IAIftMAN J Harryman Esq. HONORARY SECREfARY S M Bachelor Esq. HONORARYTrEASURER Malor BD Welsh* ASSISTANT HONORARYThEASURER AJ B Miller Esq. WELFARE TRUSTEE J H3ryman Esq. COMMITTÈE MEMBERS J Dlxon Esq Major R R WirEman TD¥ J M Ueary Esq. lappolnted 17th Qceober 2Q241 ADVISORY COMMirrÈÉ ICO-OPTEDI S Broomfleld Esq fj McAdam Esq A Cornell Esq fvl McLaren Esq M J Felstead E$q A J Nathan A Gemmell Esq lappolnted 23rd February 20251 S Ross-wlden Esq * Trustees
THE LONDON SCOTllsH REGIMENTBENEVOLENT FUND REFERENCE AND ADMINISTrATIVE INFORMATION Icontlnuedl W4KERS The Bank of Scotland PIC 38 St Andrew Square Edinburgh EH2 2YR INVESTMENT AOVISERS Rec Brewin Dolphin 12 Smlthfield Street London ECIA 98D INDEPENDENT EXAMINER Perrys Audit Limited Churchdown Chambèrs Bordyke Tonbridge Kent TN9 INR REGISTERED OFFI Regimentsl Headquarters 95 Horseferry Road London SWIP 2DX
THE LONDON SCOTnsH REGIMENT BENEVOLENT FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present thèir Reportand Finandal Statementsforthe year ended 31st March 2025. Referee and Admlnlstrative Inforniation.. This 15 shown on paBes 2 and 3. l. Consthtlon, Slrurture, Governance and ManeMent Status.. The Fund Is a Charity re8lStered wlth the tharlty Commlssion for EnÈland and Wales: Registered No 207482. Govemlngdocument.. The Goveming Documentof the Fund is the Charity Commission Scheme dated 1991 as amended by a Resolution ot the Trustee5 dated 13th September2011 under powersthen avallable to Trustees underSÈetion 280 of the Charltles Act2011. Ori8ins- The Fund derives from thE amalgamalion In 1991 of the London Scottlsh War Memorlal Fund for those who seNed In the Flrstworfd War11914- 19181 and the London Scottish Regirnent Benevolent Fund forthose who seNed In the Se¢ond World War11939- 19451. In 1991the Trustees of the War Memorial Fund re501ved towiThJ up thelr Fund and Pa Its remolnlni assets toThe Fund. In ¢onsideration of the transfer of assetsthe Trustees of The Fund assumed the obli8atlons of the War Memorlal Fund and ndertook to tre3tthe Members of each Fund In the same Mner. At the same time the rules of The Fund were thanged in order to enable itto provide alStan to servlng orformer5ervlng members of the London Scottish Regiment (The Re8imentl and any Unit or5ubunitthereof wheneverthey had served so as to Include seNlce In the peacetlme battalion of The Regiment, in the 515t Highland Volunteer5 (from 1967 to 1993} and The London Regiment (from 19931. Structure. 6ovemance and Management.. The posltlon of Presldent of the Fund has lapsed, slnce 30th April 2023, a5the Army has not appolnted a Re8lmental Colonel of the London scottish Regiment. There are four Vice Presidents who have long experlence of the Reglment and the Fund. They are wailableto advise the Trustees and are kept Informed of activities. The Fund is managed bythe Trusteeswho are appointed by Members atthe Annual General Meeting. A maximum of eight Trustees are appolnted including a Chairman, Honorary Secretary and HonoraryTreasurer. The Trustees meet once a year but are constantly in eontact by télephonè and elÈttronlt mèans.They also havè the assistancè of an advlsory Committee, who ore nottrustèe5. The Trustees reportto the wlder membershlp of the Reslment annually at the Annual General MeetlnB and through the Re8lmental Newsletter. 2. ObJertlves The Fund is established to provide assistance to persons of any rank who are seNing or have at anytime served In The Re8imentorany Unit orsubunltthereof and to thelrspou5e5, widows, widowers, surviving partners of cwll partnershlp5J thelr dependent chlldren and other dependants, who may, Sn the unfettered d15cretion of the Tru5tee5 forthe tlme belng, be In cOndiOn$ of need, hardshlp, distress or ill heah. Assistan may be provided in the form of grants, donatlons, regular Ilowances or Interestfree loans. If the Flnanclal Statements of The Fund show a surplus of Incomefor a year. such surplus may be expended in subsequent years for any of the followlns object5 and in the ordErgiven:_ al The assistance of any person of any rank. who is serving or has served In any of the Scottish Regiments of the Regular or RèseNe Army orthe London Reglment and theirspouses, widows, widowers, su1VIng partners of civil partnerships. their dependentthlldren and other dependants, who may be in conditions of need, hardshlp di5tre55 or ill health. bl Forgrants to be made to any Scottish Charfty orCh8ritable Corporation. Such grantsshall only be made If authorised by resolutton of the Members of The Fund in General Meetlngprovlded that the notlce of 5uth a meeting Include5 the name of the charfty and the amount ofthe 8rant prL>posed. 3. Artl¥ltles A ILondonScott5shl Company, The Lgndon Reglment was rodesnated to G IMe55ine51 Company Scots Guards, 1st Battalio London Guards (Army ReseNel on the tst May 2022.
THE LONDON SCOThISH REGIMENT BENEVOLENT FUND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Trustee5 are aware that amendments tothe Goveming Document are required to reflect the ChSe$ that have been made by the Army, whlch have a150 affected the other London Scottish Trusts and the Regimental Association. A coordSnated approath from a15 parts of the Re8lrnental family15 currently beSn8 pursued and theTrustees wlll rnake the requlred thanges as s(hJn as pts551ble followlng conclusion of thls task. TheTrustees have, and wlll contlnue, to app the funds sn actordante with the oblecttvesof the Fund and within establlshed pol[d In support of its exlstlng Members. 4. A¢hlevementsand PerfomiaAto The oblert of the Fund 15 to support Its Members (within the wlder deflnltlon of the who quallfy Includln8 immediate familyand dependantsl who 3re in conditions of need, hardshlp or dlstress by giving financlal grants or otherasslstance. Durlng the 202412025 finanoalyear the Fund has provlded the following.. FSnancial suppon of varyin8 amounts to three annultsnts and ¢learantt of the burden of debt. Trustee5 of the Fund contlnue to Ilalse ènd workwith case workersfrom SSAFA Forces Help as well as The Royal Brttish Legion, theArmy Benevolent Fund and other charitsble organisation5 and arrange vlslts to keep a watchful eye on those that may require asslstance, perhaps ntrt immediately* but In the future. Simllarly, members of our COpted Advi50ry Commlttee do Ilkew(se w5th current and former rnernbersof The London Stt>ttish Re8iment. Grants& sifts, allowances amountin8 to E53,98112024- £45,536) were made durfng theyear. Thls includes the payments to Scottlsh a)arilie5. Our Investrnents Portfolloeontlnues to be managed by Brewln Dolphln. 5. Flnandal Results the year under revlew. totsl IncomèfÈll to £48,42712024- £60.1471. Th15 reductlon reflects a de¢re35e in Investment income to £47,20012024- £51,702) and a slgnificant dedine In donation9and legacies received to £856 12024- £7,947). Gifts, grants and allowance5 arnpunted to £49,78112024- £21,5361 and there were donatlons to other tharltles of£4,20012024-£24,0001. After expenses of £8.52712024- £8,280) there was a defitit of £15.908 12024 surplus of £4,472). 6. Finandal Revlew During the accountln8 peflod the investment portfolioshowed a srnall decrease reflecting several factors Snduding the grave situations In Ukrainè and Ga2a. Ptslitital thangÈs at home. in Europe and the US. This produced unrÈalised 105ses of £6,786 and reallsed 8ains of £21,546. In addition to the perfornianre, Investment Income showed a decllne from £51,702 to £47,200. The performance ofthe investment portfollo ts kept under revlew bythe Treasurer, and meetings take place at least Vice a year Ivia telephone thisyearl wlth the InvestmentAdvlsor, Brewln Dolphin Ltd who manage tt on a dis(retlonary b15. The Trustee5 have continued their policy of accumulating some of the surplu5 Income to provlde for future support to our Members who have been deployed on operatSons wrth the amiy overseas. Amounts reiVed as le8acles and gifts were passed io our Investment Mana8ers for investment. The Trusrees a satlsfied with the Fund's state of affalrs,
THE LONDON SCOThISH REGIMENT BENEVOLEKf FUND REPORT OF THE TRUSTEES (contlnued) FOR THEYEAR ENDED 31 MARCH 2025 7. HeseYvesPoll¢y The Charlty Commlsslon's Guldance ICC191 has bèÈn considered byTrustees and a suitable reserves lIc¥ set In place. TheTru5tee5 Bard the QFl8inal c3pltal plu5 re-lnvttsted 8alns and Income surplu5e5 05 eiFendable endowment. AhoU8h theTrustee5 have pgwerto resortto use tspitalthere are no Immedkiie plans to do so. The total vqlue of the Fund15 £1.247.49812024-£1,248,6461. TheTrustees hJvethou8htabout the tlmlng and de8rne of anyfuture flnanclal commltments.the normal level of annual Erant 8lvlTr& the possible futUTe Èffert of Covld 19 and the eXpted Inwme from the invested endowment and confftrm thatall known future tommitmènts and likely new grants to Membe15throughout the yearcan be pald fromthe bafik account cash Selves, belng in the orderof £IO.OOOto £20.000, to8ethérwlth Month incomethroughout theyear, wlth anyex¢esssurplus Income atthe end of thè fiThantial year belng granted to external based Scottish charities. Should the requlrementforgrants tc+ Members reduce during the yearthe ènd of year surplus would increase and lar8er8rants made toexternal Scottish charit$ to balancethlngs off. Conversely, should grants io Mernbers be hlkhèrthan expectsd a reducpd amDuntwould be grnnted to external Scottish charTties atthe end of the perlod.Thls m¢th¢d of grant glving provldesfora sultable buffertotake account of rises andfa115 In grantslo Member5 and reducesthe need to hold large resetve In the unforeseen eventota need fora larger sum thanthat held In theTrusVs cUrnt accountth• TrustèÈ5 would use capr(al funds. Thls would have nexligible effecton the Tunnlng of the Fund and would be reveed in subsequent perlods ofincome. & plansforthe Fulure There are no plansto alterthè way In which Income15 expended. Whilstthe nutnberof annultant5 has decllnedthe rnn8é of other5hortterm flnancial needsof Members has Increased and the Ttee$ Stand readyforany future appllc?nts especlallyfrDmthe campaigns In Iraq and Af8hanlstsn.ThèTrusteès constantly look at new waysto asslst bèneficiaries In need. 9. Risk rnaent The malDr ris to whlchthe Fund 1$ exposad, as identrfied by theTteES, have been revlewed and systemsare In plact to managethose risks. 10. GolnBMncern The Tntee5 have considered the resources of the Fund and have reasonable expectatlonsihat itcan tontlnuetooperate forthe foreseeable future. Theore the'EolnR concem, basls is used in preparingflnanclal staternent$. 11, StreBy The Trustee5contlnually review the needs ol beneficlarles and seekto Identffy any needy members of the ReBlment and their dependants and to analyse how besttheir needs can be met. The Trustees have pollci in place coverlng rfsk maTra8ernent, Investmerts. volunteer managemen¢ ¢omplalnts handlln& vulnerable people and the requlrements of the General Dats Protettion Regulatlon and these are kept under revlew. 12. Leg4tiés Le8acles and dgnatlons forthe year were £8S612024- £7,947>. 13, Publlc Benefft ThE Tru5teES conflrrn thatth2yhave 8IvEn careful consideraÉ6on to the Charity Corrmlssion's8eneral guidano on publk beneflt and are of thè opiniofi that all donatkjns and grants meetthl$£uldance.
THE LONDON 8COThISH REGIMENT BENEVOLENT FUND REPORT OF THE TRUSTEES (ContInu) FOR THE YEAR ENDED 31 MARCH 2025 14. Paymentsto Benefirlaries Regular allowances and Erantsare paldto annultants and beneficiaries. When the fSnancial end of the yearflgures arè knowfft thÈTrustees resofve how much, If any, to recomrnend a5 8rant5to extem?I Scottlsh charitiesfrDm surplu5 Income. The recommendatlons are dbcussed atthe General MeetlnBof the Fund and If approved by Member5 paid direct. 15. Stgtement of Trurtee$Respon51bllltles Law applicable to charities in England and Wales requlrestheTrusteesto ppare Financial Statèm•ntsfor eachfinanckl Year whlch gfve a true andfairview trf the Fund'sfinanclal actniitles during the year and of hs ftnantlal positloh atthe end of the year. In PPartn8 Flnanclal Staternents gfvlng atrue and fairview.the Trustees are requlredto-. sÈlttt suable accountln8 lkIeS andthen applythem cons15tentlyj obsetve the metho(ts and prlnclples In the CharlJe5 SORP- make ludeements and attounting èstlmates that are reasonable aTrd prudent- Slate whetherapplicable accounting standards and statements of recommended przctfj have been followed.sublett to any departures dlsclosed and explained in the Finantial Statements.. prepare the Financial Statements tsnthe goln8 concern basls unless It15 Inapproprtate to presumeth?tthe Fund wlll contlnue In operatlon. TheTrnteeS are resporhsible for keeF4ng properaccounting recordswhlch d15close wlth reasonable accurac¥thÈfinantlal Position of thé Fund and which enablethem to ensure thatthe Financlal StatemEntscornpty wFth the applicable law. They arE blso respon51ble forsafeguardlngthe assetsof the Fund and hence fortaktng reasonable stepsforthe preventlon 4nd detectbn of fraud and otherlrregularltles. 16. Concluslon Itls wlth wEat sadness that l ptsrt that Colonel John Clemence CBE TD FCA passed away on the 2151 March 2025. Col Johnwas a Vlce presldent olthe Fund at)d always showed 8reat interest in it. We miss him greatlv. The Fund has reacted quICkt0 gfve financlal SUPPOTtto calls for assistance, to remve the burden of debts, casts of retralnlngand to asslstwith welfare. The costof thlsSUPPOrtfor Membersof the Fund has been greaterthan the prevlou5year, re5ultlng In a reduGtlon of grants to Scotttsh arItIeS, Le8acles and donatlons are the soureeof afty IncrÈase of thp Fund and ourgratitude goes outto all pwious tfaCto. Any monies pled8ed to the fund ore placed into our invexment portFoli¢ t¢ achieve income In future fvrthp Fund's charltable oblectlvesl prfmarllyto help London Scotttsh Member5 and thelr famllte5. My thanks g¢ tts all the Trusteesof the Fund forthelr contlnuedworkand support. and especlallyto Malor Bfian Welsh, HcmDraryTrea5urerfor hi5work In preparin8the5e annual accounts and to Stuart Bachelor Honorarysecretaryforhls work in kèeplngthe record50f the Fund and preparlngthe Mlnutes of mèetings. AddlOn311Y. l thankourweware Trustee, Jason Harryman who keeps contactwith ourexisling clients and a5sessesthose in need on behalf of the Fund, tO8èthtrwth lialslng with other BènevolentOr8anisètions as necessary. The BenevolerbtFund CWLtlnue5 to glve longterm financlal ass15tance losome and has qulckly reatted to help Members In drfficult ¢Uni5tance5. Thefund is well placed financially and ful readyto gtyefinanclal asslstance to Its Members in the future. ThETru5teescontlnue to keep a watchful eyefor those in Condttions of need, hardshlp or dlstress. The c105e relatlanshlp with thè ScotsGuards has contlnued and strengthened. TheTrustee5 are at an earfy stageof glvlng conslderation of rnerging the Fund intothe Scots Guards Charlty and Inforrnatlon about th15 has been included in the London Scottlsh Gazette, 50that Members are aware. Furtherdlscusslon i5tsklng pla. Stephen Mlchael Kempster Chaimian London Scottlsh R•8lment Dated C)Gfc*fvVL
THE LONDON SCOTnsH REGIMENT BENEVOLENT FUND FINANCINL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES Independent examlnees reporttothetrustee5 of The London S¢ottlsh Regiment BeMvolÈnt Fund I reportto thetrustees on my examination of the accounts of the London Scottish Re8iment Benevolènt Fund (the Trust) forthe yearended 31 March 2025. Resp)nslbllltles and baslsof report As the eharfty trustees of the Trust you are responsiblefortho prepardtion of the accounts In accordancÈwlth the requirements of the ChariUe5 Art 20111'thEAcVI. I report In respect of myexamlnatlon of the TrusV5 accounts tarried out under section 145 of the 2011 Act and In Carrying out my examlnatlon I havelollowed all the appllcable Olrecknons 6fven bythe Charity Commi55ion under sectlon J4515llbl ofthe Att. Independent examlnerfs statement I have completed my examination. I confirm that no materlal matters have come to my attention In connectlon with the examinatlon 8ivin8 me cause tt> belleve that in any material spe¢L- l. accountlng recordswere not kèpt in respectof the Trust as requlred by sectlon 130 of the Act,. or 2. the account5 do not accord wlth those records,. or 3. the accounts do not compWIth the applicable requlrements concerninsthe fomi and content of a¢¢ounts set out In the Charfties (Attounts and Report51 Re8ulètlons 2008 otherthan any requirement that the accounts 6lve a 'true and falr¥lew' whlth Is not a matterconsldered as part of an Independent examination. I have no concerns 8nd have come a(Yoss no other matter5 In connertlon wtth the examination to whith attentlon should be drawn In this report In order to enable a proper under5tandlng of the accourrt5 to be reached. &8ned: gsli()f Stsphen Hale FCA FCCA PeirysAudlt Llmlted ChorteredAKountants Churchdown Chambers 8ordyke Tonbridge Kent TN9 INR
THE LONDON SCQTfisH REGIMENT BENEVOLENT FUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Unre5tr1rted Fund5 Unre5tr1¢ted Funds Income and endowmentsfrom,. Donatlons and legacles nverneTrts Othtr 856 47,200 371 7,947 51,702 498 Total 48A27 6D,147 Expendltureon., Charltable activkties Aalslng fvnds 55.808 8,527 47.395 8.280 Total 64.335 55,675 115.9081 4,472 Nef ll0ssesllpS on invesknents (21 14.760 16,077 income 11.1481 20.549 6alanEe at IAprll 2023 1.248.646 L228,097 Balanre * 3LMarth 21124 1,247.498 1,248,646 The notes on pa8es 11 to 14 fom) part of these Flnandal 51atsments.
10 THE LONDON SCOThISH REGIMENT BENEVOLENT FUND BALANCE SHEET AS AT 31 MARCH 2025 202S 2024 Note Investments 12,3) 1.174,711 1,200,122 CurrentA$5ets: Brewln Dolphin Bank of Scotland 54,213 20,401 22,818 27,446 74,614 50.264 Current Uabllltles 1,827 72,787 1,740 48,524 Net CurrentAss*ts 72,787 48,524 Totsl Net Assets 1,247,498 1.248,646 Th• Funds of the Charlty. Unrestrlrted Funds 1,247,498 1.248.646 The notes on pages li 10 14 fom part of the$¢ Flnanclal Statements. These Flnancial Statements were approved on Trustee5 and signed by: If of thè B. Welsh Hon. Treasurer
11 THE LONDON SCOTfisH REGIMENT BENEVOLENT FUND NOTES TO THE FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 MARCH 2025 I. Ac¢4wntlng Pollcle5 lal Ba515 of preparatlon and assessment of Eoln8 ¢onom The Flnanaal Ststements have been prepared under the historical cost CC*nventloti wlth ttems rÈc¢8nised at Cost ynle5S Otherwlse ststed in the relevant note to these accounts. The Financial Ststements have been prepared in attordance with applicable a¢¢ountin8 standards, the Statement of Recommended Practlce "Accountlng and Reportlng by Charfties preparin8 their a¢¢ounts in accordance wlth the Flnancial reportin8 Standard applicable in the UK and Republlc If Ireland IFRS1021 and the Charitles Act 2011. The Trustees have tsken advantage of the exemptions in the Financial Reporting Standard No l from the requirement lo produce a Cash Flow Ststement on the 8rounds that the Fund is a ¢harity with Income less than £500,000. The trustee5 conslder that there are no material uncertainties about the Fund'5 abllity to contlnue as 801n8 concern. Ibl Income recognltlon: Income Is recognlsed once the chaiity has entltlementto the Incomt. It Is probablethatthè Income Wtll be received and the amount of Income can be measured rellablv. (¢1 Expendlture recognltlon: Expendlturé Is retognised once there is a legal or constructlve obligatlon to pay, It Is probable and can be measured relSablv. Id} Flxed asset Imiestments These are a form of basic financ131 Instrument and Intlally recognised at thelr tran5actlon value and 5ub5equentty measured atthelr falr value as at the balance sheet date. The Statement of Financial Activlties Includes the galn5 and1055e5 arisin8 on revaluation. Note 2 show5 the summary of transactlons and 8alns or losses on Investments In the year. {el Income from Investments: Income from investments. includlng Interest, Is Included when receivable and the amount can be measured reliabty. Thts15 normally upon recelving a bankstatement or notification gf interest paid. lfj Support costs: Support Costs are shown In Note S and have been fvlty allocated to charitable activities. L Summary of Imiestmenttransa¢tlons In the ye Cost Market Value Vnreallsed Galns Opening balances l April 2024 Purchases Sales 3nd equallsatlon Rea115ed gain in the year UnrEali5ed Ilossl in the year Closin8 balan$ at 31 March 2025 976.663 60,897 1101.0681 21.546 1.200.122 60.897 1101.0681 21,546 16,7861 1,174,711 223A59 16,7861 216,673 958,038
12 ThE LONDON8eorrL%H REGEN[BENEVoLeNT FUND NOTEgTOTHÉ RNtr4CLsTA7EMEIlT1 l¢pnlpu•dJ FeYHEWREWDED JI 2 •t1Aprf42P14 r)mTn¥ Cobt i¥•> rbdlrtt 4¥ 1s.oc 145 • 49gY la.7ao 1.1 &819 Q4Ilwy1pifI 1d4.ID7 i.5) 00$6> 21M2• IE.0 27AI• 27.0 21MD ZIMJB J1413 16.007 iLSDll.tsTrICknsA &7aa 7,511 trIPftUSl v.iej ¥1721 1.1 VithBI Clp 1.76U 4.750 24,SJ6 19 .gW ,41J 1.1 IF 2&154 $1.7r4 lo.1 24• CQSWL 7AtyJ A616) 4t 21J45 14,172 14B72 IIWJ 61P ii, 14J74 1pth 54MED l.W7
13 ThE LONDOII $CQThSH REGIMeNTgENEVOLENTFUNO NOTE$QN THE HNANCIALSTATNIEIIT5{conUul1 FOR ThEVER ENQÉD 31 MARCH 1026 H(4irfS tn Ji WAfeh24a V4bJ Irth E9 •tllwJMF4y 470,358 717 24,011 11,%B9 243 Ito 4.W)) ,•75 34,975 41 Eff 24.8ll1 19,7fAI ¥474 1,Z .WO 29242 22M¥P 29,242 7.Lthl f11) IID,t• J35 4128ts ,Jl• dr1 i0.nu 113Sg 1Q7 2Ql 221a Ill.7 141¥2 ¥,1 110,041 11.110 1,19 NfthvwJ¢WalUa 2llmJ JT,9 J7,E83 rfrknFwJ2 ¥512 1.727 3Dk19 41, eHFQ.49•EGD) 31931 21.¥21 ioJpt U,$70 1402 SSGASPts ETF8kn 17B UB01 OpJhWI11p 4lOI• US EqutyllXMTLPLUSGBPE49 Yr0 .0 Ills IQ4VLTP 1101B I6,& 14.544 1.174.710 47*D
14 THE LONDON SCOTnsH REGIMENT BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS (¢ontlnued) FOR THE YEAR ENDED 31 MARCH 2025 4. Analysls of otherln¢ome 20ZS 2024 Bank interest 371 371 498 498 5. Analysls of tharltable a1vitIeS 2025 2024 Gifts, srants and allowances Donations to othercharitles 49,781 4,2TrJ 21,536 24.(0 Support costs.. Office expenses Independent examlner's fee 17 1,842 1,859 47.395 1,827 1,827 55,808 6. Expendlture on ra15ing fund5 expendlture on ralslng frjnds represents investment managementfees and LEI (Legal Entlty Identlfierl charge. 7. Analysls of unrestrlcted fund movements 2025 2024 8alance at l April 2023 Income ExpÈndlture Investment gain{LOs$e5} Balance at 31 March 2024 1.248,646 48,427 164,33SI 14,76Q £1,247,498 1.228.097 60,147 155,6751 16,077 £1,248,646 9. Trustees remuneratlon and expensès Trustees recelve no remuneratiorb or beneffts forthelr Services. TheTe were no related partytransaction5.