Charlty num￿r. 213074 THE ROYAL CALEDONIAN CHARITIES TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 THE ROYAL CALEtX)MAN CHARMES TRUST Page Reference and adrnlnistrative detaM5 of the Charity. its Tntstees and athise Trustees. report Independent examinerfs repori Statement of financkl activities Balan¢e $heet Notes to the financlal slal•ments 7-15 THE ROYAL CALEDONIAN CHARMES TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Truste The Earf of Kinnoull Mr Andrthv thjrray Charlty r•gist•r•d number 213074 Prlncipal offKe 17r2 London Street Edinburgh EH3 6LY A¢¢ouni•nls James Cowper Kreston Chartered Accountants and Statuiw Au(iitor Read￿￿ Bridge House George Street ReadNig 8erkshire RG18LS 8anker5 CAF Bank Ltd 25 King Hill Avenue Kings Hil Wesl Mal￿n9 Kent ME19 4JQ Page 1 THE ROYAL CALEDONIAN CHARMES TRUST TRUSTEES. REPORT FOR THE YEAR ENoeD 30 SEvfEMBER 2021 The Trustee5 Ixe5enl thtyr annual repcxt ttsJether wth the stalanents the year 1 October 2020 to 30 September2021. Trustees The Trustees ￿￿ed on page 1 served Ihroughout the ￿ar. App(xntment of Trustees is govemed by the T￿￿1 Deed of the charity. Further Trustees are appcinled by mutual agrert of existing Trustees. 11 in the event of death or for any other reason the nLmber of Trustees falls belcY&V tsvo. the P￿Sident will appoint Trustee to make up the m￿lm￿M nLwnl)er of tr￿1. T￿￿teeS ¢$) not have to aFvly for re*lection. The Board of Trustee5 is aulhorised to wpoint Trustee5 to v￿8r￿leS arising through re5ynation or death of an exi51iny trustee. Investmont poYMr5 The Trust Deed authorises Tn￿lee5 to m*e and investThEnts the general funds ol the Ch￿ty. The Trust holds investments li M&G Charrfund logell*r V**h soff* cash reserves of approxwnately £60,000 10 co¥er events￿rty of a carKel￿ bal. Consti￿tIon. objects and pollcles The Chaiilable Trust is constiluted by Trust Deed. The otpcl of the Trust ts the charit*le aid of the Queen WKloria School. Dunblane or other Charitable purposes Connec￿￿ with ScotlaThJ. The Trn*'s consliiution wuires that it mainlan a ￿SerVe of between SO% •KI 100% of the estimated costs of a single ball. TFu"s is a pyudenl rneasu￿ to ensu￿ that the Trust can continue in the evwt of the ball hawng to be carKelled. Trustees have had regard to the Charty Commissh￿'S guidance ￿ pubk b¥effiL Development. athitws and xhieveThrts The Tru5t&s ar¥J executive ¢(￿￿Millee meet approxknatety 6 times a year to organlse the ball and lo decide ¢auses to supp)rt. Dur4￿ COWO-19 crisis the Irust continued to rase fvnds through alternative fund- raising activiti8s and endeaVOu￿ to sup￿ its charlale catses as best as possth. The charity retwned to sts mial fund4aisry in 2t)22. Flnancial review The COVID-19 crisis again led to the can¢elalion of the Ch*.5 rnan furKlraising evenl The Royal Caledonian Ball which had been sel to be held in Spring 2021. Thg d￿151￿ to cancel the Ball was taken early which avoided Ihe Charity in¢urring the vasl m•)nty of costs normally asscciated with operating a Bal. The Charity was supported by a generou5 donath.on from the foundalion whth all(?￿d it to make increased donalKJns to supported charthes. The ccrfnrThttee and INstees are very grateful f4N this SUFI)Crft. Total kn¢ome for tr* year increased by 37.5% (2020- 79.yh decrease) w)d expenditure whith excludes grants to charity deLYeased by 26.¢J% (2020- 80.3% dec￿se). The Trusvs accountiTrJ pol￿￿ dictate IW the accourts irthle th don*KxKs where Ihg recipients hav8 been notffied as al the rephjrting dae. The Trustees thtar. per the Trust's aecoLtntwig polieles. were £nil {2020 - £11.0th)). P*Je 2 TrIE ROYAL CALEDOfrWI CHARMES TRUST TrUSTEES' REPORT (coKfiNUED) FOR THE YEAR ENDED 30 SEPTEhlBER 2021 Grant5 were made to the folbjwing charities (who were, as Th)ted above. onty notified formally in December 2021. meanin9 these donalh)n$ do not appear fom*lly ￿ the Trust's accounts for the year ended 30 September 2021).. Chai Prime area offocus The homeless Those liwn Youn eo Unwell children enl medical su The disabled Those INin Veterans Youn carers The homeless RCCT Donation £3.000 Borderfine Cerebral Pals Scolknd Oumfries & Gallowa Befriendi Hearts & Minds North Easl Rider Volunteers Ridin for the Disabled Glas le Retreat Scottish Velerans. Residence5 Sk & L¢xhalsh Youn Cafers Sl Catherine's Covent Homeles5 P th cerebral als £3.000 £3.000 £3.000 £3.000 £3.000 £3.000 £3.000 £3.0 Grou th cancer Future developments The trust would lfi(e to thank everyone invow ￿ the charity fcrf thar loyal support and they look fopward to ensuring that the ball continues to be the most successful and enjoyable event of the London Season. Statement of Trustees. respons(blli¢ies The Trustees are responsible for preparing the TNslees' Re￿￿ and the financial ststernents in accordance with applicable and United Jfjngdom AcctyJnting Standards (United Kiigdom G8nerally Accepted A¢¢ounting Practice). The I￿ applicable lo ch*iiies in Engknd & Wth r8qUiTeS the Trustees to piep* financial statemonls for each financial year which give a true fair vw of the slate of affairs of the Charity and of its in¢oming resources and application of fesour¢e5, irKluding is income ￿ expenditure, for that period. In preparing these financial statements. the Trustees are requir&1 to.. setect suitsble acCO￿￿ng polKies appty them consi5tenty, t*serve the methods and pnnciples irf the Charit*s SORP IFRS 1021.. rnake judgemen15 and accounknng ests"m*es that are reasonable and prudentr. stale whelhw appl￿ble UK Accountsng Standard5 IFRS 102) have been folNed. subject to material departures disckjsed and explained in the finarml stslements,. prepare the financid statements on the gcry concem basts unless it is InapPr￿nate to presume that the Chanty continue in bU￿ne$S. The Trustee3 are resportsl>le keepwry adequate accounting records thal ¥e sufficient to show and explain the Charivs Iransacbjns and disckjse with ￿asonable accuracy at any lime the financial position of the Charty and enable them to ensure that the finanrial stslements C4)mpty v4ith the Charitie5 Act 2011, the Charity (Accounts and Repartsl Reg￿ationS 2008 and the provt5ions of the Trnsl deed. They are also responsible far safeguarding the assets of the Charty aThJ herte ts tth.ng reasonable steps for the prevention and detection of fraud and other Irregularrties. Approved by order of the members of the board of Trustees aTrJ on their behawty. Mr Andrew Murray Trustee Dale.. THE ROYAL CALEDOPWI CHARMES TRUST INDEPENDENT EXAMINEFfs REPORT FOR THE YEAR ENDED 30 SEPTWER 2021 Independent Examlnerfs Report lo the Tn￿ge$ ofThe Royal Caledonlan Charllles Trust {Ihe Char6ty'1 I repryt lo the Tru*ees on my exa￿n8th)n of Ihe xcounts of the Ch* for the yw ended 30 September 2021. Respon$ibilttles and Basis of Report As the Trustees of the Charity you are TesponsiL* for the preparalm￿ of the accounts in accrydance wilh the requirements ofthe Charties Act 2011 2011 ACY). l Teport in ￿Spect of my eX￿rIna￿On ofth8 Ch￿$ accounts carr*d oth under section 145 of the 2011 Act and *) Carr￿n9 out my examination I have fdlcMEd the 4)￿lCable tlirections by the Charity Commission uTrJer 5ectlon 14515)Ibl ol the 2011 Acl. Independent Examlnerfs Statrnt I have completed my examinalKm. I cc*ffim Ihat ￿ mattets cc•ne to my attentTh In coMeC￿N with the examlnation giving me cause to beleve thal #i any materi* respect. xcounting records were rnt kept li respecl olthe Chaiiy as Teqimred by sectiDn 130 of the 2011 Acl". or the accounts do not accord wth Ih05e records: or the accounts th) not c(xnply with the appkth rewirements concemir¥J the fomi and content of counts set Crtrt in the Charities (Accounts and Reports) Regulat￿n$ 2008 other tlwn any requirement that the accounts give a '1￿￿ and la¢ VI￿ is a matter ¢on$hlered as part of an independent exarninalipn. I have concems and haNp ccrfne a¢ro$s Ot￿r matters in connection w*h the exarTMnalion to which attention shoukl be dra%ffi in tris rep)rt wi order to en*J18 a proper uThJerstanding of the accounts lo be Teached. This report is made solely lo the Chartys Trusteas. as a tthy. in ￿7rdanCe ￿th Part 4 of the Charities (Axounls and Reports) Reguw'c￿5 2CrtJ8. My woth has been undertaken so that I might state lo the Charitys Tfustees those matters l am wuired to state to them in an Ir￿ePendent exarrinetrs report and for no other purpose. To the fullesl exlenl pemwlled by law, I do not ac¢ept or assume responsikn'lity to anyone oth8r than the Charity and the Ch￿5 Trustees as a bch*. for my th or for this rep I￿P. 18 October 2022 Alexander Peal Bsc (Honsl FCA DCIL4 James cow￿1 Kreston Charte￿d Accounlanls and Stalulffji Authltx Roading Brithje House George Streel Reading Berkshire RG18LS P•Je 4 THE ROYAL cALE[￿N￿l CHARMES TRUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 30 SEPTEMBER 2021 Unrestrictod funds 2021 Total funds 2021 Total funds 2020 Nota Incom• fr￿. Donat￿nS and W$ Other trading a¢livities Inveslnknls 31.063 5,921 1J35 31.063 S,921 1J35 13.044 13,193 1,626 Total Income 38,319 38,319 27,863 Expendlture on: Raising f￿d$ Chaiitablo activ￿￿5 12.038 1808 1103B 2.808 16.619 15.000 Total expenditure 14.846 14.846 31.619 Net Incomel{exp•ndSture) beforg net gainsl{losses} on Investments Nel gainslllosses) on investme 23N73 6.529 23,473 6.629 (3.7581 (7,534) Net mov•m•n¢ in funds 30,002 30,002 (11,2901 Ro¢onclllatlon of funds: TO1￿ funds brought forniard Net movement in funds 78.442 30,002 78A42 30,002 89.732 111.2901 Total funds carried forward 108 108.444 78,442 The Statement of Financial Actsvikntt Ir￿ aa gains and kssses r8cognised in the year. The notes on pages 710 15 foThn p*t oflt*se finanual Stalen￿$. THE ROYAL CALEDOIW4 CHARITIES TRUST BALANCE SHEET AS AT 30 SEpTE￿ER 2021 20 2020 Fixed assets Invesln*nts Current ass•ts 11 30.073 23,544 D8bto Cash * bank and in hand 12 11,000 65.679 816SS 81655 76,679 C￿dItorS aTh)unts fall'ng due *ithin onE 13 142841 {21,781) Net Cu￿nt assets 78,371 Total net assets 108.444 78,442 Charity funds UnresI￿ted lund¥ 14 108.444 78,442 Totsl fund5 108,444 78.442 The fin*cial staemenlswere apprtr4ed and aullw￿lSed issue by Trustees and signed on ther b8haf ty. Mr Andrew Murray Trustee Dat& 17 . 9¢. The notes on pages 7 to 15 forni part ofllwe financial staeme￿. ThE ROYAL CALEt)ONIAN CHARITIE5 TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEM8ER 2021 Accountlng policles 1.1 Basis of preparailon of financlal statwnefits The financi￿ statements have been prepafed in *c￿d￿Ce with the Charities SORP (FRS 1021- Accounling and Reporting by Charlies.. Statemenl of Recommended PraetTh applicable lo charities preparing their accounts Yt accordance wilh the Finanual Reporting Stsnd¥d applicabl8 in the UK and Republic of Ireland IFRS 1021 leffeclive 1 Jwuary 20191. the Financial Reporting Standard applic*le in the UK and Rewblic of Ireland IFRS 1021 arKI the Charities Act 2011. The Royal Caledon4n Charities Trust meets the definitK)n of a publ￿ benefft entity under FRS 102. Assets and liabilities are uittiaty recognised at Worical cost ￿ transaction v*e V￿eSS dherwise stsled in the rethnt accounting poly. 1.2 Fund accountlng General fund5 are unrestricted fvnd5 *thich are avali able for use * the discretion of the Trustees in furtheran￿ of the general objectives of the Chanty ¥*d wtrmch have not been designated for other purposes. Investment inco￿, gains arKI ￿)sSeS are alk￿ated to the appr(yiiale furKt. 1.3 Income l income is recognised ￿ee the Ch*ity has to the N￿Orne, it is probable that the income WÉI be received and the amount of incom& Teceivable Can be measured reliably. The reCOgn￿On of income from legaoe5 is dependent on eslablshing ertillemenl. the probablity of receipt and the aly.lty to estimate Suff￿￿t accuracy the amount receivable. Evidence of enlillemenl to a legacy exists ￿en the Charity has suffieienl eviderKe that a gift has been left to them (through krThledge of the exKstence of a fdlKI will and the death of the benefactor) and the executor is satisfied that the prEyerty li questK)n will Th)t be required to satisfy Claims in the estate. Receipt of a legacy must be ￿Cogn￿ed it is probable that it will be received the fair value of th8 amount receivable. whith wil be the expected cash amoun(lo bexlistriLwled lo the Charty. can be reliably measured. Inccffie fax recoveraLqe in ielatiDn to Investm￿ is reeognised at the time the investment income is receivable. P4e7 NOTES TO THE FINANCIAL STATEMEKTS FOR TFE YEAR ENDED 30 SEPTEMBER 2021 Ac¢ountlng policles Iconilnued) 1.4 Expendltuve Go¥unance costs a￿ those WKLured ￿ conneclvjn with ￿lm￿l$traI￿on of t￿ and compknce with constitutKK￿l and st*uW reqiirrn Costs of generating funds are costs incurred in attractiry voluntay I￿0￿￿. and those incurred in trading activities that raise funds. Chwtiable aEbvibes and govemarKe costs are inCu￿ed on the charitls op*abons, irKluding support costs and wsts relating lo the 9)vemance ￿the charty app￿tined to ch*ble activities. Grants payable we Charged in the ye¥ when Ihe offer is nwde except in those cases where the offef is ccfidilional, such grant5 being recogr¥sed a5 expenthlure when the ¢ondth"ons attachng are fulfiled. Grants offered Su￿.eCt to condrtions have not been mei ai the year end are noted as a ommitmen( bLrt not accwed as expen(rrture. Al expendiiure is r￿Usive of Krecov&*le VAT. 1.5 Investments Fixed asset investments a￿ a fomi of financial inslrument a￿ init.ially recognised at their lransacb.on cost and subsequenty measured at fa￿ va]ue al the Balan¢e sheet date, unless the value cannot be rneasure(i le￿.a￿ in whth tsse it is measured at cost less impairnent. Investment gains and losses. vthether realised or Lmreaiised. are ccwnly￿l We$￿ted as 'Gain51{L05sesl on vestmerts. in the Statemenl of financ?al activities. 1.6 Interest rncoivable Inl8re51 on fLmds held on depogt is when recervable and the amount can be measured reliatty by the ch￿ty, thi5 is rnxmaty upon Tr)t'ffiGation of the inte￿$t pa￿ or payabl8 by the Institutxjn ￿ryth whom the lund5 are deposrted. 1.7 Debto Trade other debtots *e recoyimsed al Settkn￿nI anount after any tradè disccMJnl offered. Prep8ymenls are valL*d at the prepaNI net d anytr* discounts due. 1.8 Cash at bank and In hand Cash at bar* and in hand cash and short-l￿ i)¥estrnents wilh a short maturity of three n￿1th$ or le55 from d* of wuisiknon or opening of the depo&l crf $imlar account. 1.9 LlablllUes and pmvlsions Liabllilies are reccrfwised when Ilwe bs a) ci)Iwkn * the BakwKe sheet date as a result of a pasl event. it 15 prob*le that a transfer of ernnC￿ benefit be required in settlement. and the amount oflhe settlement can be es&"maled r&abty. Liabilities are recognised al the amount that the Ch￿ty ￿tiCIp￿e5 it pay to seth the debt or the amount il has rec￿ed ès advanced paY￿￿nIS the goods cx services rt mu51 provide. Provislons are measured at the besl estimate ofthe aMunts required lo settle the ob1v￿n. Where the effect of the Value of money is matertal. the wwsion Is based ￿ the present value of those arnO￿ts. discounted at the pr&tax th'scoLmt rate th* refiects the risks specffic lo the liability. The unwinding of the discount is •nised in th8 Statemenl of finanril activlies as a finance cost. THE ROYAL CALEOONIAN CHARMES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Accountlng ￿￿cleS (contlnued) 1.10 Financlal Instruments The Charity (￿lY has financial assets and ffinancia rta)Ii iiies of a kind that qualify a5 basic financial slrLments. Basic finanryal instruments ￿e #iitialty recognbsed at transaction value and subsequent measured al ther settlement value with the excepts'on of bank which are SUbseqL￿1 measured at amortised cost usiThJ the effe#i¥a interest melhod. Income from donatlons and l•gaci•s Unrestri¢ted funds 2021 Total funds 2021 Total fund5 2020 Donaliws TKket donations 31.063 31,063 5,533 7,511 Total 2021 31.063 31.063 13.044 Total 2020 13.044 13.044 InGome from other trading actlvS Income from fundrdising events Unrzstricted fund$ 2021 Totrl fvnds 2021 Total funds 2020 Ball Irckets Programme income Subscri)tions from pall￿$ Other event income 2,077 3.500 5.921 5,921 1.770 Total 2021 5,921 5.921 13.193 T¢)tal 2020 13.193 13,193 Pa99 9 THE ROYAL CALEDONIAN CHARMES TRUST NOTES TO THE FINANCIAL STATEMEIWJ FOR THE YEAR ENDED 30 SEPTEMBER 2021 Inveslment Incom• Unrestrfcled fvnds 2021 Total funds 2021 Total funds 2020 Ir£ome from listed inveslffents Intefest rec&v4)le 1.330 1.330 1,575 51 Total 2021 1.335 1,335 1,626 Total 2020 1.626 1.626 Expendlture on r•15ing tsnds Costs of rnlslng voluntary incom• Unrestricted funds 2021 Total funds 2021 Total fvnds 2020 Orchestra and ppers ALttitin expenses Programme costs Adverhsir9. slatwery and printiThJ exP&￿e5 Ot￿r event costs Athiinislratim and ¢)ffice expwtses Bank charges SecretaTls fees Website cost5 1.(N)O 1,OlXI 2.498 226 193 2,498 226 193 5.016 1,556 1,259 8.000 205 121 121 8,000 Totsl 2021 12.038 12.038 16.619 Total 2020 16.619 16,619 Page 10 THE ROYAL CALEtX)NIAN CHARMES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Analysis of expendlture on ¢harltsble acllviti Summary by fund type UnrestTiCted funds 2021 Total 2021 Total 2020 Oonations 11.000 4,000 2.808 2.808 Total 2021 2.808 2,808 1S,000 Tolal 2020 15,LWJO 15.000 Anatysis of exPendI￿r• by a¢tivltle5 Grant funding of actlvltles 20 Support Total funds 2021 Total funds 2020 2021 Don*i?ns Governar￿ costs 11,000 4.000 2.808 2,808 Total 2021 2,808 15.000 Total 2￿20 11.(￿0 15.000 Page11 THE ROYAL CALEDONIAN CHARMES TrUST NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR EN(ED 30 SEPTEMBER 2021 Aftatysls of grants Grants to Instiiutions 2021 Total funds 2021 Total fvnds 2020 f>ants 11,000 In l)ecember 2021. thé Chaty gr￿ted £30.000 lo instit￿K￿5. F(Y detabi . see the Trustees, report page 3. The Chwity has fflade the fdky*ry matena gi*s to d￿Ing the yew. 2021 2020 Bordedine Cerebal Palsy S¢ottand {fcrfmety Bcbath) Ers￿ne Care Home5 Hear15 and Minds Maggp's (Cancer Cenlres Scotlarnll Rvjing hr the Disabled (Glasgtr* Gro￿) Skye & Loch*h Young Ca St Catherine's Homeless Prqect The Huhland H05fAce Waverfey Care soo 1250 1250 1250 1.(100 1.250 1,000 11,0th) Indwd•nt •xamlnerfs rwnuneratlon The independeni examir*f5 fwnuner*m amints to *thp8ndenl examiner fee of £9￿ 12020 - £918}. 10. Trust•es' remunerntk•D and expgn During the year. no T￿￿tee5 receiwd any remurEration or othw benefils12020- £NIL). Durkng the year ended 30 Sewember 2021. Th) Trusiee exrenses have been ffKurred {2020- £NIL). P*Je 12 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 11. Fixed asset Inveslm•nts Usted se¢uritles Cost or valuation At 1 Octobef 2020 Revaluations 23.544 6.529 At 30 September 2021 30.073 Al fixed asset investrrth5 are held in the UK. 12. Debtors 2021 2020 Prepawnenls and accnjed income 11.000 13. Crodltors: Amounts falllng due within one y& 2021 2020 Grants payable Other creditor5 11,000 10.781 4,284 21.781 Page 13 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE RNANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 14. Statwnenl of funds statement of funds. current yoar Balance at 30 Gainsl September Incom• Eyndiiure (Losses) 2021 Balance * 1 October 2020 UnRstrlcted fvnds General funds n.442 38,319 114.8461 6,529 108.444 ststement of funds- wlor year Babnce at 30 Gainsl SeFlember ILosses) 2020 Ba* at 1 October 2019 InC¢￿e Expend*ure Unrestricted fvnds General knds 89,732 27.863 131,619) IT,534) 78,442 P*Je 14 THE ROYAL CALEtKINIAN CHARMES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 15. Analysis of assets bètweèn tsnds Analysls of net assets bet￿n funds- current year Unrestricted funds 2021 Total funds 2021 Fixed asset investments Current assets c￿ditorS due within one year 30,073 82,655 14,2841 30,073 82,655 14,284) Total 108.444 108,444 Analysi5 01 net assets betThn lunds. Prior year Unrestiicled f￿d$ 2020 Total funds 2020 Fixed asset investments Current assets Creditors due W￿hIrt one se 23.544 76.679 {21.7811 23,544 76,679 121.7811 Total 78,442 78,442 Page 15