R•yl•temd Chwlty No. 231324 THE 81R JAME8 AND LADY SCOTf TrU8T ThU8TEE8' AuAL REpoKr HNANCL4L STATEMEiif8 FOR ThE YEAR ENDED 31m IAARCH 2021
THE 81R JAMES AND LADY 8COTf TRUST Dated 310t DKert•r 1909 - R•glstsrnd Chwlty N 231324 Tru•ts Slr Chrt8topher {CthAlmiw) Madeldne M Str Wllam L Q &•n Hen C• 92 Strl&J•ndgat• Ind•wd•nt Ex•nln•r gola ChorKon. Ctt•rtDr•d ¥%nIrt Holnoa Watt8 M•n&)o•tsr Umltsd 3rd Fkxy, fvawr4n(¥ &JHdtry•. Pjbwt 8quwo Manchothr M2 40N nk•rn Bard•y4 Bwk plc 9 HI90• Cumbrfa LA9 4DF Th• Trlkl4 kn•trMnt FurKI ICOIF) 8•nalor Hj 85 ¢]u¢gn Mdkyl• 6tr••t EC4V4Er &ntlh & Wllllarngon Mwfflt 25 Moorgat• Lond¢)n £C2R &AY SAnd8tr8 InhT•trnl OTr0 (lo 18.1220) 105 Vthgmtyo Str••¢ LMdon W1U 1QY Ca. pvi c18thnxl•¥ (frni 18.122D) EC2Y SAU rrey & Co. 33 ¢Jue8n 8trg¢t don W1Q 9HY
THE SIR JAPAE8 AND LADY 8COTf TRLMT Dabj 311 Dowrtw - P•gj ClwFty No. 231324 Tnut•g8' Annual Rewt 31 Mwd12W21) The Trth8 pr8WIt thelr n81 rewt and un8udltJ Ilnandal siatement8 for the year ended 31•1 Mgrch 2021. Referen(x 8nd adn1trfj trrfomM1k 8et out (m Pa99 2 knns part d th18 rwxxt Tho finandal statements lve bew Fyepared kn aC0)rfan tho aCU)Unth lIdeS sout In nota 1 to th8 81xxts and t>)M wlth the ChartV8 Dedaralk>n of TN81 tho CIwTUe8 Act 2011 and ntkng Rewxung by Charlllo8: statem of Re(xynmended F¥a(#kx apMcable to tharfUo8 rfng th8k xrJ)unts in aC<r[lar thsih the Fknand81 Rtyortlry SlarKlwd 8FpII(•ble In the UK and Iha Republc of kvbnd wbI18Pd on 18 2014 and updated In CKacthr 2019. V4th 811 oflhe•e rneolky by InNltallon arni 8tt8Tthd kn an ex-offlLiO Ety. Tho Tru8t d008 n( 8nWoy Ory 8laff dlrecty. HMVW, It dd use the pirt-lkne 8thlco8 of •mpWe8 of anothff Tnwt (the FrarKI8 C Scott Ch8rflaL40 Truryi. FCSCT). Tha >tal numbw of 8taff for th• 81r James L8ty S¢%tt Tn( cal(JJlat8d on a fu1r0 eqthlont batii8, 0.13 durlng the yoar. Madal8ine Sco¢ 8180 a ThIBt80 of tho FCSCT. i•ixth•nts Iho of the 8lr Jam and Lady Scott TruBt on a PernJ)no1 Commlttoè of Twtho8. The TnMI ts 8 8eif.pwpbJallng re8rmth tr 118 tywn Opt8811rWnonts. tho Chalrm•n of Tru•te88 bekng re•puwlbl8 for ltrhi IrKkK41on •rrfl tr•lnlng olrw ThJstO08. A dlgllal fold fomiaUon18 mllabl8 tr any Tnwts• In(Jd•8 tho folth%lrvJ: Cwy of the TN8t Daed. &8nt DlJtrlxrtl)n Poky. In%8trnwl Pollcy. ¢>g8nl8allonal Charl FO•k A8888tr R0P(rt MlnLrte• Ilrm the18gt thrm Tru8tee mo8Iry8, m(t rocentAcarrtl. Frym and GukJeHM8. Fwther Genealty Accept•J ACtnI19 Pracllce Tho law appl110 charlUe8ln Eryknnd & W8 retykn8 thetru4t•e8tO flnandal statomen18 for each thand81 year thlch grrfe a true latr th af Ihe crf aff81rn rf tho 18rfty ol the nandal •lalements. fv biJ8tee8 arn requ1 tr): lect 8ult8tle 8Lwwllng poKd•8 ilmn 8PPty crytht8nty, observe lJ)e m6thods and In the (Jwrtiles SORP 2015 {FRS102),' makoludgmnts and e8lm8 that arn re88on8bkn Iu08n1. 8tats Tthelh8r applicablo acixwnury 8tandard8 have bew fdkywed, 8uWect to matetsl dep8rlur88 dI8ely and explalned trs tho financlNI statThnts: prepare Ihe finan¢lal staknnIS on the golrvJ ¢0M bgsb unlols It IB Inwowiatrj to Prn8V ltst the charlty ThlH o)nllnup In operatirm. ac10¢Y at any ttme the ilnandd F<th charfty and )le thwn to wsure that the finandal 8taternnts rnpty the Chkn Ac 2011. thè Charlty (ko)urt8 and RePts) R•Juhtlon8 2(J)8 8nd the provi81S of tru81 deod. They are 8180 f8sF51bl8 tr Satsguardlng the a88ets ol the Irrrfulwlfjel.
THE 8IR JAME8 AND LADY scurr TRusr tt•J 3111 Dember 19(9 - Rogbtu•J cha No. 231324 Tw8teeB are rewon81ble trthe malntwarr Integrfty of the arKI finAndal Irrfom Inthlod on tha chartty3 LeIlDn In th• Unlted lQrydcffl gDvemlng Nnd dl88emtn8kn of)In8ndaJ 8latfflne may dlffw frn legls1afj In cthorhM18dbctlon8. Tho Trust wa8 e&abI4hl ty DadArnkn of Tnmt dd 31•1 1909 of 81r Jrn ¢knt pollcy The Tnf$ txyrent tstrfi)Id kn koopkng th Its objwth: 1. To provlde gr8ntstodwrltkn8 benefftlng é18advantAgéd poqjlè and c4yrrnunltle8tr4n tho Borough of 8dion- w oroa thich 8elthx and Ns farnlty Iknly cmded. Z To pro finandal a8818tenca. wlndp8lty1hah th8 of a modest perfoclc p8sffn fmr fx prn omk088 ofthe f•nlty ofthe S6th)r lK) nocw1 dravn8lanca& 86% to 8(htri dwrllo8 34% to IrKIIthkn. 4) Thg Tnt w•komM 8NAk•ll Iyryn •1 twllabl• W8atbx• d•fiMd w•• of gr•nt. gmng. T•1988 belleve that tho ft grnnt 8ppM¢xlloM WKI the oftho Tnt ix)th rnmah apwwlats ft a grnrrt-gmty T1 81ze. b> Th8 Th8 knb8tt0 li deslgnul to al( gantlI(l to aPY fry grnnts vAtrt papar vernlwi romalntng ev•M•ble for thc¢o unablo to •(xx8 thè IntnoL The Dkedor18 regLdorty In C4Jntact vAlh 8taff the Bdton Cr#Jndl for vOn13ry Servlcffl vtho th dcwty lth many ol I ¢xgantsallon¥who 8Fvty. The DlroctsY8lBo rnrages approwknts cYg•nlMllon• to•ppbytothoTrwt by att8ndlw fundlng advko hdd In Boltcm frcm lknè to tlmg. ¢(wres1n9 8pplkarrt8 kn on•w ary qu•lrx4 bef(Ye wthlttlrvd Ihwn to TNste81 fr bMeffld8ry ar•8. Mary 4mallor wgonlsafj¢Th lo p8uJe thdr op8rnkn15 oxtended pth of Ilrne, Yth118t othw8 adaplod to need8 In tholr cAynmwllo8. Emerg fiyKIB we m•Je avallable on a end naUcThl IMI. In Aprfl 2020, tryward8 the ofthe natlonal lod( doTr, Tru8lea8 £20.000 trj 8(th CVS Cthl EnwenLy Fund lo be dirfbut8d to ofthe b11 Ihg Tru8t to thotr (181 We8t) are h ne(88(8
THE SIR JAME8 AND IADY sco TRUST [kn11 314t Decemb•r 1909 ~ R¢glrnd GlwltyNo. 231324 Tn•tM•' AnmMI R•port (¢cmYnu droJTrtsnc88. All aduft de8centsnts ofthe Seloor arn In thls c•Th8rMd8r wlth the mo8t racart malllng C[va durlng Ihe repth year. b) M(thy payTnents b extsUrvJ ban8fid8rf88 are revIeI aMu8ly and adjusted to r8fi8Lt )st of Sn(yease8. During th18 r, Tru8iee4 agr8gd 0 2.6% upllft In to rg¢0grtse the extra buTd8n that risky ftJ(ts (axts 8nd uully blls pkn many to onabte Iridllkknl redplents to purthaw IV001d Itam8 or 88N1 that they ACHIEVEMEPIrn & PERFORMANCE Il•vl•w al th• Y•w Iho Trust re total InNwIm Incorno In Iho of £58,372 (¥mpwod * the Nevbus y8 In(yJmo rf£S82. There were g grants awwdod to kn tha year t(alWr¥J £41,028. dled a 0)ntrn > Bolton CVS'8 Emwd8rry Cothd Resp)n80 Fwd d £20,000. thJ•t undor tvK+ of tho thartlle8 appllod to Ihe for In the yew warn suc851 kn f¢1%ng a grart 8lb&l rt to Iho 18vol req810d. Tr table beltY4¥ IbJ8trate8 h(yw th18 Iplease note 16 on [0 18 Ix d•t ar1¥ lo Ch•rllabl• Frnig FfaiiW19 Frn17M• FYIWW17 Numberol •prAWM• 14 18 16 Totsl amount olfiJnd• £51551 6.616 £97,316 g (1 13 10 12 Oncludk •xtr8tydlnary 17 £41,028 Amwnt ofgrnrt• rwvd•d £18.120 £10,6n £2Q132 Extraordlnvy grnnt rants a4% Avernllo grwrt fjlz• (eXj exirn)rdrwy nts) £IA34 £1.812 £1.510 £1.184
THE SIR JAIIE8 AND 8Ci7rr TRusr 311t DKembor 19 - P41stw•d CltyltyNrk 231324 In addluon ) tho grts to (xganlths. 4 fomw 8nwWes ofthe fanlly of the Settltr Ttho are In nece8thu8 drcurn8tsrKS r8C8t¥•d paJThorts dLrkng the yegr that rnryed In v8luefrorn £177 to £304 wr month. Tolal pa5v1rtS to iTh4rfdua18 ftx tho year an)nted lo £11,712 (x¥npar•J to £10,342 In 201PJXI. gUIdan and b8llm that th• poUGy, x1ml1 and outrxrn d88(ylbed above moet th080 requirements. Tho Tru8tau plea88d to nde the UFyer TrfIn81,s (wbl8hod 20.2.12) in r•l8llon to bonovcknt knd8 and the r•wlrwwrt dthe ChartUo8 Ad 2011. Annual Rl Rewt18 l•bl•d ovwy year for nSId911 by TnJ8te•s that Indud08 28 Ibm8 wllh (XTh8pondlng eonThnts a8 to be6t to addre88, amallorats anth monlky the Id•)Ufjed rl8k•. Tho most slgnln(xnt rf8k Idenffied by Tru•l•g8 IJ a m4x In the value of Ihe Tru8f8 Inv88tments 11 It wern to ojnllnuo oNv tINry longer twm, ImpaLI on IB 8biUty to wovldo wants to its prknrtty arw of chartlable a6 oulllneAI on 98 4. Th18 rlok18 addreBsgd by hddlng a dfv8rnlfi•d portrdlo of InN•BtrneDts 8epornt•, W1h( fd managerB arKI by hn9 polld08 VMNCIAL REVIEYI Inv••tm•nt Polky udgnty lo rnoxlnl80 t(81 rotym In tyd•r to pThldo tsady grqhth armj 01 leajt lo prefj4rn tho roll Tclal r•tsj aftar I, ffi the Smlh & W1118m80n manapd IrN•skn•mts 19.6% (2020: 4.1%). The Tru8Y8 holthng8 of CaMt18n Gwwalkffj Fund wothJc•d a rnkni cl 25.1% (2021k -6.4%) Ih MSCI PIMFA Balanced Robun 19.7% UK 8tod( marf<et 20.8% Investm pollcy ond bMOrk IrKlkw (xthiad atrth•. Dl•trflxrtlon Polley 1118 the Tru8tee8' slat•J to aVa d18trlIon In any ono year cm mgn8gem•rt admlnl8tralon ¢x*b be laken knto a(xxrt In th18 year, KIrn oxceeded kKomo ty £11312. R•••rv•s Poll¢y 1118 the TTU8tse8' Interrtkn In one lo anocats 8M IncJTh avallatle tr dlstrfbukn and not to t1j up re8wv88. Prior lo 1998. certakn exc8 InLxxne had b8en retakned and invethl and these d8, Indudlng the kKYease In the martet value cl the km8trnents rThln a¥allabkn for
THE SIR JAME3 AND LAITf 8curr TRusr DBIWJ 31•t 0•Tr I - Rag18ternd Clwlty 231324 At 31Bt Mwch 2021 the balance on g&wrnl lrn8tr fiJTrJ8 81ood at£61XJ,417 rnred >£498,219 Ihe prevlou• yew. Cxlhae, £28.190 tree re8w¥e8 (X119rJJ: £13,6141 PLAN8 FOR FimiRE PER1008 T(r4ord8 the end of Ihe rep(Jrflng perlod kn Maro) 2ff21. ts UK pcwlallon 8tsrllng to 899 sr rethcbJn8 on Interaction duo to co.19 Ing 088ed. Pmgre88 remaln8 elplY 8UCC88 of the vxdnakn roll tyJL H(yY¥w. th8r• rmlm vr101nty regarLfjry the nergenc• of and pro88 on the NHS, esp durfro rn& Tru¥tees have con8kleratbn to the lrnpact on the G¢)vornance. ap88, WKI IlnwK98 d Tho •dopUng athke sat ujt by the Chty ComI88k. Slr+¢• yw4nd Tiith ha, vthwo pcwlblo. TN8taa8 arn nndful Ihat the Inccffio from th• fiJThl may (Athue trj lIudat0 In the noxtflnandal year. Bwd them aue8Thnts the Tru81001 Cd•d that they cmknue to aw the odn snrrt1lY rn%1ow thè way kn TnJo1 l• adnlnlw•J to li h both effldont co•t offocllve In (Iotrlbutkng Its InoTh. Intend lo c¢ythu8 In th• year ad. dWvantag&l people aThl commurlllo• lIn tho Bwh of Bolkn. TruoeB Ihlll rJ)nilnu• l) •pplkal¢Th fty ffln•Maal frryn ffi)mior (Y pr••Jnt report wa• aed by TN8t0¢8 on 1 DOCb•r 2021, $19n tholr behair ty. Slr Chrf8knphw Cthath rA TN8te88
TrIE SIR JAME8 AND LADY 8carr TRU8T {19OD) 3141 Dmber 1W - Wl¥ternd No. 231324 I r8PQrt to the thwlty trutee8 (n my exarrdnth crf the a(£<ti ofth8 thgrlty for tbe yw •leAJ 31° March 2021 ¥ttJich ar8 set txrt page8 9 tr11& R••ptyMlbllltl•s and ba•18 of r•port tho requlremerts of tho Charfll88 Act 2011 Acr). I res In re8peGt d my oxartth dlho dwW8 aoJwnl8 (ad 1 undrA BOLcm 145 oftho Act arvj In carrylng ry exarnknalk I have fdl(yATd awlcablo 9t1 by Charfty Crmmls8h)n urKr 88clknn 1445Xb) of the A I have a)mpleted my examkwtlon. l o)nfrni that no matsrfal makn have (x)me to my ottonkn In Inecth vAth exwnlnatton gl¥lng me cau8e to bellev¢ that In malerfal re8P8Ct 1. 0(xountlng not W kn rn8poct dtho t M requkad by #oclkn 130 d tho At. or 3. the accounts do ncrt c¥)mpty wlth th8 8pplk8blo rowlr8m8nts (xrKwnlng the frmrn and c(ffltont of acwjnts 88t oul In Ihg ChgrlUe8 (Accts aThl Rop(Yi8) Rwdulalk)n8 21J)8 otr than 8ry requlrementth8t the 8(ownt8 a and l Ilovl wtlth18 nLrt 8 m8ttwcon•ldered •s whlth att•nllon •h(wld l)0 dr In INB reyl In ) enat40 cllhè awjunts to be reached. ITrJ/K Ang•l• Chortlon 1)8ts.. 1011W2021 Heln88 Watt Floor. Norlhern A8wral rt Square Manch88ter M2 4DN
THE SIR JAMES AND LADY Sco TRUST (1) For th• yoar abxl•d 31 Il•r¢h 2021 NoknB Ernl(yAffient Inty)m• Tot•1 In¢on Tot•1 In¢om• 130 11 ¢3Mnt maklng Gf•rts commltsl 4116 (62.7381 (52.n8) (48.192) 11.441 918 N•t {•Xp•ndv•kn¢ b•l•r• q•kn• {14.104) (11442) (28.548) {15,814) N•t (kme8yg8kn• 459e19 114640 574 Il•t In ftmd I4515 10119 547.713 (208,778) blIrtfU*ry 01 514450 498219 LL8TI 3219453 2959973 )417 3 The nots• on p•g•• 11 to 18 forni pwt oftlw flnandel tru•t hN• yln•
THE SIR JAMES AND LADY SCOTh TRU3T11909) *4 at 31 M•r¢h 2021 11• 11b 1983. 1903.184 1617,e61 18 570 918 478 367 12 45,758 46.768 28,007 40.758 46.758 31,825 711 18 711 )417 3W)8iXI J012trn Ih•n e00417 301267T FdI 15 Q417 30128TT 10
THE SIR JAME8 WID LADY SCOTf TRUST (19 Not•• to lknancknl prnp•thg bwr Th4th th Fkn•rthl knllrd kn th• Ilwkof IreLfr#l IFR8 1021 Iwed on 18 Juty X114 up6• kn 0¢obw 2019 tho Fknqnd•l Rwtk¥ 8t•rth UK•nd RebJWollrvll (FR8 102) U cl5wllo• 3)11. ¥pIC•bkn In th• im •ThJ of lrnl•nd IFR8 11) l¥u•d on le Juli2014 •r&l upd•tsd kn OLob•r •llwJlhvtrom 1 20f15 Iw• ¥nc• lhdr•An. Inv•#nxrl Inttth• *ykn tr• TAllthth•TTr4t to rK•lii 11
THE SIR JAMES AND LADY SCOTT TRUST {1909} Nol•• to flnanelal •tat•m th• y•v •nd•d 31 March 2021 l poldm lrNe8tm ore • ftym of b8fin•ndai w•J arn rwnl81 al trar4ackn ¥• and wtOquty me••url at falr ¥6 •8 at the WrK dats 1j the doslng qL4lt8d marknt WI. Tho 8tatWTw 0fllnanc IrKJde• the net yEro 8NI kw•es •tslrvJ on rw81¢ 8NI d¥)00 thr(whtyrttr Jw. fund• OrKryn• fvrhY•) ury8•1rf furMIB fAllch Arn fc¢ u80 at tho d16ry0tkn ofts Tru•teM In furlhwwK• afth• c• Tfwt •xl not bw) di&ted lor INIpoty In%•ts. Im •1thg (n th• fur•J cw bo uged In •co)rd•bK• th d)J¢¢ts ¢t1 Tr1 ld•& u LwYeotrlca Incom& Ary• galrf6 or Ic8 on th• of pwn1 fimd a•oots forni p•rt ( I fvrKI. IrNo•trrnrrt man•gWnl chor9• arvj iopl ( rn1#11ry to arn dwg•d •g•inDt Sknckn arrtl aThJ othtr Inknr••l 58.1 14 . Endcr•mient fund 14,032 14.282 InW•kn f¢0 . In(Th 1rNe8 fuNI F•8& arg dwryqd tAllhln trUsts In tho Tn• fund8 arn Inv••W. Th6Jo fw ft*2021 TAWO £2Q075 forthe Fund (2020: £25.31n gTrJ £7.939 Invu8ted fml (a12Tr. £6.677). dArVa cOmnle10n•, t(A81 fe•$ for 2021 £48. {20., £47,031) to A Tol#l EMSe of 1.4% (2020: 1.8%1 Fw •• rw(thJ ur¥J•r MIFIID11 l• mrTr a(XoI0 12
THE 81R JAMES AND LADY sco TRUST (1909) 4 Grnntm•tho 2020 4 grants to knner •mpWts (rflhe f•mkydth• wllh)r{2(12tr. 8) 11.712 18J42 29 46.192 D•t•lkn ofth• r•dFknts •rn In Tr)1• 18. T•tsl 4310 4.614 8tsff Ime 1TI 8tsff Im&lu•ago 379 Sl•llYm*u•ag8 Trrnl m••lrwJ w•t• Logd f 2,918 796 177 155 Co•tT>y• Trt avpport Staff Imo 155 13
THE 81R JAMES AMD LADY SCOTh TRUST (1909) SAlarf•• 514 513 Fw b•g•l durtry SW. P•>ffWrtrf£8,eeo12ty20: £2.910)TA n•J• lo &Co. Wlllwn L G gmin kn • pwtsw kn lJ*t ff k4dtryat 31 %tr21 2020 v• #t +Xrt b•bx. F•M rtwg•d tytrw• fiwKl• tn J•v to£34,015 (IW. £310NI. 1,191 A24 521.915 974293 472.eTh) 14
THE BR JE8 LY3crr TRUST (1909) Tot•1 14 11 Gront rr4WIu (48,192) (48.1921 710 {14J54) 115*14) 11n.7211 M055) 3012 077 15
THE SIR JAMES NJID Lly 8COThTRU8T11909) 11 Inv••kn•nt 2021 1282858 2,8815 1.(XY2.W1 992.533 (M,gJ7) (1.253.881) qulfjlibrA atctht Net Oco•e•ygalN• on rwjbjthi •t•nd dy•v 2.W26,371 IW858 FW Inlw••t 163.187 172.293 312.436 266.041 1.085.Q27 117, GkJl wuYd•8 UK WU8• 538.317 71 2 282 858 Mvk•t at b•gln ofy iulo11th at (xA•t 475.7 510.glJ2 (22Z24) P.54n Net 0088a•yylr• on 588,197 475,rn) UnIn¥e•I ¢wh ond ottr •¢tUwn•ts 18 47e 367 Hkniork81 fxAt at •rKI of yaw 315 16
ThE SIR JAhlE8 AND LADY scurr TRUST (1909) Fwd 1.191.823 $21,945 102,422 974,213 472,iV)O 148.8 CQ PIrfr0 FuThl Il trthj on qtyA•d publk plnwfftith• Lorrflcfi &oc ExrtowD. Fl)kllry In Ixyfim 1Thl ar• r•txJwld •tth• d•t• Lllrnd• •tc¢ Ohrtl•iltrnr••clkn ofth•nd•l In#JpThntsb th• Ib R•wt 12 Cwh FWKI rn•r¥•r COIF 38,187 18 18 Grnnt• 13 4711 17
ThE SR JAMES AIKJ LyaC17frThU¥r (1909) 14 (27.018) 114.840 572227 13 14 )A17 574 259 3M) IMXXM InNwt•J Fund 620.1n P.0gJ) P2,$7J) 71 (V.71oi 219 B•ArMtslk 2,11XI BolA>n & Gll•C D•olBlkxf UK FwWk¢ Lttl Hh F(* Tho 8rfdq• chu 41.020 18