Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11-.18.48 BST (UTC *110 111 P 1116 Charity number: 213074 THE ROYAL CALEDONIAN CHARITIES TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11.-18.48 BST (UTC *110 111 P W16 THE ROYAL CALEDONIAN CHARITIES TRUST CONTENTS Page Reference and administrative details of the Charityi its Trustees and advisets Trustees. report Indgpendgnt examiner's rgport statement of financial activities Balance sheet Notes to the finaneial statements 7-14
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11.-18.48 BST (UTC *110 111 P 16 THE ROYAL CALEDONIAN CHARITIES TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Trustees The Earl of Kinnoull Mr Andrew Murray Charity registered numbar 213074 Principal office 1712 London Street Edinburgh EH3 6LY Accountants James Cowper Kreslon Chartered Accountants Reading Bridge House George Street Reading Berkshire RG18LS Bankers CAF Bank Ltd 25 King Hill Avenue Kings Hill West Malling Kent ME19 4JQ Page 1
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11-.18.48 BST (UTC *110 111 P 4116 THE ROYAL CALEDONIAN CHARITIES TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 The Trustees present their annual report together with the financial statements for the year 1 October 2022 to 30 September 2023. Trustees The Trustees named on page 1 have served throughout the year. Appointment of Trustees is govemed by the Trust Deed of the charity. Further Trustees are appointed by mutual agreement of existing Trustees. If in the event of death or for any other reason the number of Trustees falls below two, the President will appoint a Trustee to make up the minimum number of two. Trustees do not have lo apply for re-election. The Board of Trustees is authorised lo appoint new Trustees lo fill vacancies arising through resignation or death of an existing trustee. Investment powers The Trust Deed aulhorises Trustees to make and hold investments using the general funds of the charity- The Trust holds investments in the M&G Charifund together with some cash reserves of approximately £60,000 10 cover the eventuality of a cancelled ball. Constitution, objects and policies The Charitable Trust is constituted by Trust Deed. The object of the Trust is for the charitsble aid of the Queen Victoria School, Dunblane or other charitable purposes connected with Scotland. The Trust's constitution requires that it maintain a reserve of between 500/0 and 1000/¢ of the estimated costs of 8 single ball. This is a prudent measure lo ensure that the Trust can continue in the event of the b811 having to be cancelled. The Trustees have had regard to the Charity Commission's guidance on public benefit. Development. activities and achievements The Trustees and executive committee meet approximately 4-6 times a year lo organise the Royal Caledonian Ball, discuss the work of the Royal Caledonian Charities Trust, and lo decide which causes to support. The Trust returned to its normal operations posl-covid in 2022, with the first posl-pandemic Royal Caledonian Ball held in May of that year, and things continued as normal during 2023. The 2023 Ball was held on Friday 12th May, with more than 720 guests dancing at Grosvenor House and raising money for worthy Scottish causes. Financial review As noted above, in the previous year total income and expenditure for the Charity had returned lo pre-covid levels. In 2023 income from ticket sales1£128,1271 increased from the previous year12022.. £124.7221. The was entirely due to increased tickets sales, as there was no increase in the headline ticket price Idue to awareness of posl-covid cost of living pressures on guests). Income from Investments. Donations and Patroness subscriptions were broadly stable. However, the decision not lo hold an auction at the 2023 Ball offset the increase in ticket sales, meaning total income1£139.1921 was broadly stable12022.. £141,458). A tight focus on costs of running the 8811 means that costs only increased slightly, leaving a surplus which was used to fund donations (which were paid out after 30 September 2023 and so will be included in the next set of accounts). Page 2
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11.-18.48 BST (UTC *110 111 P 16 THE ROYAL CALEDONIAN CHARITIES TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 Future developments The trust would like lo thank everyone involved in the charity for their loyal support and they look forward lo ensuring that the ball continues to be the most successful and enjoyable event of the London Season. statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. Report and the financial slalements in accordan with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable lo Charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources, including its inwme and expenditure, for that period. In preparing these financial slalements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgements and accounting estimates that are reasonable and prudent., stsle whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial slatemenls., prepare the financial statements on the going conrn basis unless it is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that the financial slalements comply with the Charities Act 2011, the Charity IAccounts and Reportsl Regulations 2008 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. Approved by order of the members of the board of Trustees and signed on their behalf by.. A MtsLrr&q Mr Andrew Murray Trustee Dale.. 03 July 2025 Page 3
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11.-18.48 BST (UTC *110 111 P W16 THE ROYAL CALEDONIAN CHARITIES TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Independent Examiner's Report to the Trustees of The Royal Caledonian Charities Trust Ilhe Charity'l report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2023. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'lhe 2011 Act'l. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records,. or the accounts do not comply wth the applicable requirements conceming the fom and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give 8 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2008. My work has been undertaken so that I might stste to the Charitys Trustees those mallers l am required lo stale to them in an Independent examiner's report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 3 July 2025 Alexander Peal Bsc (Honsl FCA DChA James Cowper Kreston Chartered Accountsnls Reading Bridge House George Street Reading Berkshire RG18LS Page 4
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11-.18.48 BST (UTC *110 111 P 7116 THE ROYAL CALEDONIAN CHARITIES TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestricted funds 2023 Total funds 2023 To181 funds 2022 Note Income from: Donations and legacies Other trading activities Investments 2.266 134,297 2,629 2.266 134,297 2,629 2,063 137,750 1,645 Total Income 139.192 139.192 141,458 Expendlture on: Raising funds Charitable activities 105,395 20,012 105,395 20,012 113,377 32,036 Total expendlture 125.407 125.407 145,413 Net incomel{exponditure) bgforg ngt lossos on investments 13.785 11.8171 13.785 11.817) 13,9551 12661 Nel losses on investments Net movernent in funds 11,968 11,968 14,2211 Reconciliation of funds.. Total funds brought forward Nel movement in funds 104,223 11.968 104,223 11.968 108,444 14,2211 Total funds carried forward 116.191 116.191 104,223 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 7 10 14 form part of these financial statements. Page 5
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11.-18.48 BST (UTC *110 111 P W16 THE ROYAL CALEDONIAN CHARITIES TRUST BALANCE SHEET AS AT 30 SEPTEMBER 2023 2023 2022 Note Fixed assets Investments Current assets 11 27.989 29,807 Cash at bank and in hand 90,794 81,756 90,794 81,756 Current liabilities Creditors.. amounts falling due within one year 12 (2,5921 17,340} Net current assets 88.202 74,416 Total net assets 116.191 104,223 Charity funds Unrestricted funds 13 116.191 104,223 Total funds 116,191 104,223 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by- A MLA¥r Mr Andrew Murray Trustee Dale.. 03 July 2025 The notes on pages 7 10 14 form part of these financial statements. Page 6
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11.-18.48 BST (UTC *110 111 P W16 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports} Regulations 2008 only lo the extent required lo provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Royal Caledonian Charities Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. 1.2 Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. 1.3 Income All income is recognised once the Charity has enlillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability lo estimate with sufficient accuracy the amount receivable. Evidence of entillemenl lo a legacy exists when the Charity has sufficient evidence that a gift has been left lo them Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the property in question will not be required to satisfy claims in the eslale. Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed lo the Charity, can be reliably measured. Income lax recoverable in relation lo investment income is recognised at the lime the investment income is receivable. Page 7
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11-.18.48 BST (UTC *110 111 P 10116 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting policies l¢ontinuedl 1.4 Expenditure Governance costs are those incurred in connection with administration of the charity and compliance with constitution81 and ststulory requirements. Costs of generating funds are costs incurred in allracling voluntary income. and those incurred in trading activities that raise funds. Charitable activities and governance costs are incurred on the charitls operations, including support costs and costs relating lo the governance of the charity apportioned lo charitable activities. Grants payable are charged in the year when the offer is made except in those cases where the offer is condition81, such grants being recognised as expenditure when the conditions allaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as 8 commitment, but not accrued as expenditure. Al expenditure is inclusive of irrecoverable VAT. 1.5 Investments Fixed asset investments are 8 form of financial instrument and are initially recognised at their transaction cost and subsequently measured al fair value 8t the Balance sheet dale, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'GainsllLossesl on investments, in the Statement of financial activities. 1.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.8 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates il will pay lo sellle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. Page 8
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11.-18.48 BST (UTC *110 111 P 11116 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accounting policies l¢ontinuedl 1.9 Financial instruments The Charity only has financi81 assets and financial liabilities of 8 kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exptIOn of bank loans which are subsequently measured al amortised cost using the effective interest method. Income from donations and legacies Unrestricted funds 2023 Total funds 2023 Total funds 2022 Donations 2,266 2,266 2,063 Total 2023 2,266 2,266 2,063 Total 2022 2,063 2,063 Income from other trading activities Income from fundraising events Unrestricted funds 2023 Total funds 2023 Total funds 2022 Ball lickels 128,127 128,127 124,722 6,976 6,052 Auction Subscriptions from patronesses 6,170 6,170 Total 2023 134,297 134,297 137,750 Total 2022 137,750 137,750 Page 9
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11.-18.48 BST (UTC *110 111 P 12116 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Investment income Unrestricted funds 2023 Total funds 2023 Totsl funds 2022 Income from listed investments 1,653 976 1,653 976 1,545 100 Investment income Total 2023 2,629 2,629 1,645 Total 2022 1,645 1,645 Expenditure on raising funds Costs of raising voluntary income Unrestricted funds 2023 Total funds 2023 Total funds 2022 Hotel costs Orchestra and pipers Auction expenses Programme costs Advertising, stationery and printing expenses other event costs Bank charges Secretary's fees Insurance 86,900 5,000 86,900 5,000 84,540 7,600 2,813 4,101 1,380 2,025 124 8,000 2,794 417 417 841 149 10,000 2,088 149 10,000 2,088 Total 2023 105,395 105,395 113,377 Total 2022 113,377 113,377 Page 10
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11-.18.48 BST (UTC *110 111 P 13116 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2023 Total 2023 Totsl 2022 Governance costs 3,892 16,120 3,892 16,120 2,036 30,000 Grants Total 2023 20,012 20,012 32,036 Total 2022 32,036 32,036 Analysis of expenditure by activities Grant funding of activities Support costs Total funds 2023 Total funds 2022 2023 2023 Governance costs Grants 3,892 3,892 16,120 2,036 30,000 16,120 Total 2023 16,120 3,892 20,012 32,036 Total 2022 30,000 2,036 32,036 Page11
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11-.18.48 BST (UTC *110 111 P 14116 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Analysis of grants Grants to Institutions 2023 Total funds 2023 Totsl funds 2022 Grants 16,120 16,120 30,000 The Charity has made the following material grants to institutions during the year. 2023 2022 Bordedine Cerebal Palsy Scotland Iformerfy Bobalhl Dumfries & Galloway Befriending Project Gordon Highlanders Association Hearts and Minds Islay & Jura Sick Children Il's good 2 give North East Riding Volunteers Pregnancy Counselling & Care Riding for the Disabled (Glasgow Group) Scottish Veterans Residences Sisters of Mercy Homeless Skye & Lochalsh Young Carers St Catherine's Homeless Proje¢l 3,000 3,000 3,000 2,000 3,000 1,000 3,000 3,000 4,320 2,300 3,000 3,000 2,000 4,500 3,000 3,000 16,120 30,000 Independent examiner's remuneration The independent examinevs remuneration amounts to an independent examiner fee of £1,04012022 £1,000). 10. Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefils12022 - £NILI. During the year ended 30 September 2023, no Trustee expenses have been incurred12022 - £NILI. Page 12
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11-.18.48 BST (UTC *110 111 P 15116 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 11. Fixed asset investments Listed securities Cost or valuation At 1 October 2022 Revaluations 29.806 11.817) At 30 September 2023 27.989 All the fixed asset investments are held in the UK. 12. Creditors.. Amounts falling due within ono year 2023 2022 Other creditors 2,592 7,340 13. Statement offunds statement offunds- current year Balance at 30 Gainsl September (Losses} 2023 Balance at 1 October 2022 Income Expenditure Unrestricted funds General funds 104.223 139,192 {125.407) 11,8171 116.191 Statement offunds- prioryear Balance at 30 Gainsl September (Losses) 2022 Balance at 1 October 2021 Income Expenditure Unrestricted funds General funds 108,444 141,458 1145,4131 1266} 104,223 Page 13
Virtualsigrhalure Transaction Rel. 7oDT-3P.7sss 03 Jul 2025 11-.18.48 BST (UTC *110 111 P 16116 THE ROYAL CALEDONIAN CHARITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 14. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2023 Total funds 2023 Fixed asset investments Current assets 27,989 90,794 12,592} 27.989 90,794 12.592) Creditors due within one year Total 116,191 116.191 Analysis of ngt assots bgtwegn funds - prior ygar Unreslricled funds 2022 Total funds 2022 Fixed asset investments 29,807 81,756 17,340} 29,807 81,756 17,3401 Current assets Creditors due within one year Total 104,223 104,223 Page 14