Reglstered Charity No. 231324
THE SIR JAMES AND LADY SCOTT TRUST
(Dated 315t December 1909)
TRUSTEES, ANNUAL REPORT
and
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31" MARCH 2025

THE SIR JAMES AND LADY SCOTT TRUST
Dated 3151 December 1909 - Registered Charily No. 231324
Reference and administrative infomiation
Trustees
Sir Christopher Scott, Bt. {Ch3irmanl
Madeleine M Scott
William L G Swan
Director
Helen Carter
Finance Manager
Keri Brown
Address
Slricklandgate House
92 Strtcklandgate
Kendal LA9 4PU
Indèpendent Examiner
Armstrong Walson LLP, Chartered Accountants.
Bridge Mills, Slramongale
Kendal LA9 4BD
Banker5
C. Hoare & Co.
37 Fleet Street
London
EC4P 4DQ
Investment Adviser5
Evelyn Partners
45 Gresham Street
London
EC2V 7BG
Cazenove Caprtal. part of Schr(yJers
1 London Wall Place
London
EC2Y SAU
Soli¢ltors
Currey & Co.
33 Queen Anne Street
London
W1G9HY

THE SIR JAMES AND LADY SCOTh TRUST
Dated 31st December 1909- Registered Chanty No. 231324
Trnstees. Annual Report (for the year ended 3111 March 2025>
The Trustees present their annual report and unaudFted finanaal statements for the year ended 31
March 2025. Reference and administrative infomiation set out on page 2 forms part of this ￿F>Ort.
The financkql statements have been p￿pared in accordance with the accounting policies sel out in nole
1 to the accounts and compty wtth the Charity's Declaration of Trust, the Charities Act 2011 as
amended by the Charities Act 2022 and Am)unting 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 the Republic of Ireland.
STRUCTURE. GOVERNANCE & MANAGEMENT
Overview
The Board of Trustees, comprising three members, met three times during the year. The Director was
involved with all of these meelings by invitation and atlended in an ex-officio capacty.
The Trust does not empby any staff direclly. However, it did use the part-time services of three
employees of another Trust {the Franrys C Scott Charitable Trust). The total number of staff working
for the Sir James and L&ly Scotl Trust, calculated on a full-time equivalent basis, was 0.11 during the
year. Madeleine Scott, who is also a Trustee of the Francis C Scott Charttable Trust. represents the
interests of the Sir James and Lady Scott Trusl on a ioinl HR Committee of Trustees. Trustees re￿1ve
and consider recommendations from the Francis and Frseda Scott Trusts, finance and risk committee
relating to shared governance including risk register and intemal financial controls.
The Trust is a self-perpeluating body ￿SPonSible for ils own appointmenlslrelirements, wslh Ihe Chair
of Trustees being responsible for the induction and training of new Trustees. A digital folder of
infornialion is available for any new Trustee and includes the following= Copy of the Tnjsl Deed, Grant
Distribution Policy. Investment Policy. Organisational Chart, Risk Assessment Report. Minutes from
the last three Trustee meetings, most recent AcLounts. Application Fomi and Guidelines. Further
information is made available on the Trust's websrte.. www.s"Isl.or
Trustees, responsibilities
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements
in accordance with applicable law and Unlted Kingdom A¢￿Unting Standards (United Kingdom
Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales ￿qUireS thetrustees 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:
select suitable accounting policies and then apply them consistently-,
observe the methods and principles in the Charities SORP 2019 {FRS102)'
make judgements and estimates that are reasonable and prudent-
state whether applicable accounting slandards have been followed, subject to any
material departures disclosed and explained in the financial statements..
prepare the financial statements on the going concem basis unless it is inappropriate
to presume that the charty will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial posf(ion of the charity and enable them lo ensure that the financial
statements comply wrth the Charities Act 2011 as amended by the Charities Act 2022. the Charity
{Accounts and Reports) Regulations 2008 and the provisions of the trust deed.

THE SIR JAMES AND LADY SCOTh TRUST
Dated 3151 Oecember 1909 Registered Charily No. 231324
Trustees, Annual Report Icontinuedl
They are also responsible for safeguarding the assets of the charty and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the mainlenance and integrity of the charity and financial Information
included on the charty's website. Legislation in the Untted Kingdom goveming the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
OBJECTIVES & ACTIVITIES
Constitution
The TTUSt was established by tkclaration of Trust dated 31 St December 1909 of which Sir James
William Scott, Bart., was the Settlor.
Grant making policy
The Trust's current airns are two-fold in keeping with its obje(#s.'
1. To provide grants to charilies benefrting disadvantaged people and communities within the Borough
of Bof(on- an area with which the Settlor and his famity were closety connected.
2. To provide financial assiStsn￿, princip81ty through the provision of a modest periodic payment, to
fomier or present employees of the famity of the Setuor who are in necessitous circumstances.
The percentage split of fvnds distributed by the Trust to these Iwo a￿8$ over the past five years is..
just over 73% to Bohon ¢hartties and just under 27% to individuals.
Activities
Grants to charities
al The Tnjst welcomes applications from all charitable organisations within its defined area of grant-
giving. Trustees regulady review the crrteria for grant applications and believe these and the beneficial
area of the Trust remain appropriate for a grant-grving Trust of this size.
b} The Trust's website is desvJned to allow all eligible organisalions to download an application form to
apply for grants with paper versions remaining available for those unable to acc£ss the intemet. The
Director is regularly in contact wilh staff from the BO￿0￿ Council for Voluntary Services who work
dosely with many of the organisations who apply_ The Director also encourages appropriate
organisalions to app￿ to the Trust by attending communty forums held in Botlon from time to time.
¢) The Director assesses all applications for funding. checking their content for accuracy and relevance
and corresponding with applicants to answer any questions, before submitting them to Trustees for
their consideration.
d) The Trustees and Director bisit charities in person from time to time to better understand need.
e) During the year Trustee5 made a second grant award to Bolton CVS, Boltons Fund. This is for further
distribution via the micro fund. This mechanism allows Ihe Trust's fvnds to reach a larger number of
smaller organisations who otherwise would nol be e1￿ible for support frorn the Trust and which make
up a large amount of Ihe voluntsry sector. The Director is a community assessor for this fund.

THE SIR JAMES AND LADY scorr TRUST
Dated 31* December 1909- Registe￿d Charity No. 231324
Trustees, Annual Report I￿)b"nue{j}
Grants lo individuals
The des￿ndantS of the Settlor are contacted by letter every few years to ensure that they are aware of
the benefrt the Trust can provide to their employees (past and presentl who are in necessitous
circumstances. All adult descendants of the Settlor are included in this correspondence.
Monlhty payments to existing benef￿larIeS a￿ ￿vieWed annualty and adjusted to reflect cost of living
increases. During this year, Trustees agreed a 3.9¥0 {2024 10.1 %} uplift in payments to recognise the
extra burden that rising food costs and utilty bills place UkX)n many pensioner5.
Since 2004, the Trust has also offered an additional allowance of up to £500 per person per year to
enable individual grant ￿elpIentS to purchase essential household items or services that they may
need and which are not provided by the State. No addrtional payments were made during the year.
ACHIEVEMENTS & PERFORMANCE
Revlew of the Year
The Trust received total investment income in the year of £74,000 compared to the previous yearfs
income of £69,436.
Grants lo Charities
There were 20 grants awarded lo charities in the year totalling £45,665 (£41.400, 2024}. 90% of the
charities who applied to the Trust for funding in the year were Suc￿sSfvl in being awarded a grant.
The table below illustrates how this compares to the previous four years. The range of beneficiaries in
this year were as varied as ever {please see note 16 on page 19 for details}.
An extraordinary grant request was receNed from and awarded to Emmaus BO￿on for the repla¢ement
of their roofs al their Flether Street buildings. Due to careful project cost management and a successful
fundraising campaign, the grant was not required, and so was cancelled during the year.
Grants to Charitsbto
Organisations
Number of applications
considered
Totsl amount of funds
requested
FY2024125
FY2023124
FY2022123
FY2021122
FY2020121
21
15
14
12
14
£69.655
£37.783
£33.961
£57,840
£53,551
Number of grants
awarded
20
13
12
10 (including
extraordinary
grant
9 (including
extraordinary
ranll
£50.665
£41.400
£29.961
£53,000
£41,026
lincluding
extraordinary
rant)
£20,000
Amount of grants
awarded
Extraordinary grant
Percentage of
applications awarded
rants
Average grant Site
{excluding extraordinary
grants)
£30,000
87%
90%
85%
83%
640
£2.403
£3.184
£2,497
£2.555
£2,628

THE SIR JAMES AND LADY SCOTT TRUST
Dated 3151 December 1909- Reglsteied Cha￿ty No. 231324
Trustees, Annual Report Iconlinuedl
Grants to Individuals
In addition lo the grants lo organisations, at the start of the year 4 fomer employees of the family of
the Settlor who are in necessilous circumstances received monlhty payments.
Total payments lo Individuals foi Ihe year amounted lo £16.798 compared to £13.801 in 2023124.
Public Benefft
The Tfustees have examined the public benefft requirements as specIf￿d in Charity Commission
guidance and believe that the policy. acliv-rties and outcomes described above meet Ihose
requirements. The Trustees were pleased to nole the Upper Tribunal's ruling (published 20.2.12) in
relation to benevolent fvnds and the public benefft requirement of the Charities Act 2011. as amended
by the Charities Act 2022.
Risk Mana
ement
An Annual Risk Report is tabled every year for consideration by Trustees thal includes 31 items with
corresponding comments as to how best to address. ameliorate andlor monitor the identified risks.
The most significant risk identffied by Trustees is a major downturn in Ihe value of the Trust's
investments which, if it were to continue over the longer lem, would impact on its ability to provide
grants to its priority areas of charttable work as outlined on page 4. This risk is addressed by holding a
diversrfied portfolio of investments wrth separate. authorised fund managers and by having policses in
place to adjust distribution levels over time.
FINANCIAL REVIEW
Investment Policy
There are no restrictions on the Trustees. powers to invest The Trust's investment assets are managed
by external professional advisers. The funds are invested in a diversified portfolio. The objectives are
prudent to maximise total retum to provide steady growth and at ￿ast to PreSe￿e the real value of the
Trust's assets, and the income therefrom, over the long temi.
Perfonnance against Investment Poli¢y
Total return, after fees, on the Evelyn managed inveslments was ￿￿)s￿￿e 1.41% {2023'. negative
3.46Yo). The Trust's holdings of Carvetian Generation Fund produced a retum of positNe retum of
2.78% {2023'. negative 6.020A} This compared wrth the following indices:
MSCI PIMFA Balanced PR GBP positive 2.260
UK stock market 6.41%
ARC Steady Growth Index 3%
Trustees regard investment perfomiance over the longer temi to be satisfactory in relation to both the
investment policy and benchmark indices outlined above.
Distribution Policy
It is Ihe Trustees, stated intent to spend all income available for distribution in any one year once
management. administration and governance costs have been taken into account. Trustees have met
their stated intention during the year.
Cost of administration
Trustees review the annual administralive costs of running the charity annually and are satisfied these
are appropriate and proFW)rtionate.

THE SIR JAMES AND LADY sco￿ TRUST
Dated 3131 tlecemb8r - Regk8tered Chwrty No. Y31324
Trustees, Annual Report (continued
Reseryes Policy
It is the Trustees, intention in any one year lo allocate all income available for distribLrtion and not to
build up reserves. Prior to 1998, eertain excess income had been retsined and invested and these
funds. including the increase in the market value of the undertying investments. remain available for
future distribution as per Charity Commission guidance.
At 31% March 2025 the balance on general unrestricte(I funds stocxy at £6SO,211 compared to £640,570
the previous year. Of these, some £77.552 were free re5erves12023124 £74,029).
PLANS FOR FUTURE PERIODS
TTUStees will contsnue to invite and welcome applicats.ons for funding from ttiose charities that. in their
opinion, are able lo demonslrale an ability to meet the needs of communities across the Borough of
Bolton, with pa￿"Cular priority for those working with vulnerable and disadvantaged groups. The
Trustees plans in relation to the Trust's investments and reserves are ouuined above.
Tnjslees annually review the way in which the Trust is administered to ensure il is both effic￿nI and
cost effective in dislribuling its income. Trustees intend lo continue this process in the year ahead.
Trustees will continue to welcome applICat￿n5 for financial assistance trom fomer or present
employees of the famity of the Settlor who may be in necessitous circumstances.
Goin
concern
Trustees are mindful that the income from the fund flucluates. Basèd on assessments and reviews with
investment managers, the Trustees have conduded that they can continue to 2dopl the going concern
basis in preparing the annual report and accounts.
This report was approved by Trustees on December 1￿ 2025. and signed on their behalf by:
Sir Christopher Scott. Bt.
Chair of Trustees

THE SIR JAMES AND LADY SCOTT TRUST
Dated 31S', December 1909 - Registered Charity No. 231324
Independent Examiner's Report to the Trustees of the Sir Jarnes and Lady Scott Trust
I report lo the cttarty trustees on my examination of the accounts of the charity for the year ended 31°
March 2025 which are sel out on pages 9 to 19.
Responsibilities and basis of report
As the charity s trustees you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Charities Act 2011 as amended by the Charities Act 2022 ('the Act'l.
I report in respect of my examination of the chartys accounts carried out under seclton 145 of the Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5)(bl of the Act.
Independent examinerfs sLitement
I have LOiTipleled I￿Y examination. I confimi that no material matters have come to my attention in
connection with the examination gNing me cause to believe that in any material respect.
accounting records were not kept in respect of the charty as required by section 130 of the Act;
or
2. the accounts do not accord with those records". or
3. the accounts do not comply wrth the applicable requirements con￿mIng the form and content
of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fair view, which is not a matter considered as
part of an independent examination.
I have no concerns and have come across no other mtters in connection with the examination to
which attention should be drawn in this ￿pOrt in order to enable proper understanding of the accounts
to be reached.
This report is made solety lo the Chartty's Trustees. as a body. in accordance wlth Ihe Act. My work
has been undertaken so that I might state to the Charity's Trustees Ihose matters l am required to state
to them in an Independent exarninerfs report and for no other purpose. To the fullest extent permitted
by law. I do not accept or assume responsibilty to anyone other than the Chartty and the Charity's
Trustees as a body, for my wotk for this report.
Karen Rae FCCA
Armstrong Watson LLP, Chartered Accountants
Kendal
Dale: i& lkneJtsJ zef

THE SIR JAMES AND LADY scorr TRUST
ststernent of financial activitles
For the year ended 31 March 2025
Pennanent
Notes Endowment
fu
Income
funds
Totsl
2025
Total
2024
Incon
Investment ino)me
82.867
82,867
75,483
Totsl in¢omè
82,667
82.667
75,483
Expèndlture
Costs of raising funds
Investment management costs
15,098
15,098}
14.8051
Expenditure on chantaljle actNitses
Grant making
Grants committed
Grant related SUPFK)rtIgoveman￿ ¢x)sts
4116
162.463)
16,670
162,463)
16,670
155,2011
15.429
79.133
79,133
70,630
Totsl expenditurn
15,098
79,133
94.2311
85,435
Net Ilossesllgain5 on inveslments
10.484
6,117
16,601
167.454
Net incomel{expenditure}
14.614)
9,651
5,037
157.502
Re¢on¢iliation af funds
Total funds brought fO￿ard
Total funds carried fowward
3,047,685
3.043.071
640,570
650.221
3,688,255
3,693,292
3.530.753
3,688,255
15
The notes on pages 11 to 19 form part of these financial statements. The trust has no recognised gains
and losses other than those stated above. All incoming resources and resources expended derive from
continuing actiwties.

THE SIR JAMES AND LADY SCOTh TRUST
Balancè shèèt
As at 31 March 2025
Permanent
Total
2025
Totsl
2024
fund
fvnds
Fixed a55ets
Investrnents
- Endow%nent fund
- Incorne invested furNJ
11a
11b
3,046.871
3.046.871
583.1 $2
3.051.610
577,032
583.152
3.046.871
583.152
3.630,023
3.628,641
Current assets
Cash
Debtors
12
13
76.610
76,610
74,677
76.810
76.610
74,677
Credttors: Amounts la111r￿ due vilNn on
14
3.81M)I
9.541
13,341
15,064
Net ¢urrerrt Iliabililiesyassets
3.8001
67.069
63,269
59.613
Total assets less ¢urr•rrt Ilablllll¢s
3.043,071
650,221
3,693.292 3,688,255
Total not as58ts
3,043.071
650.221
3.693.2¥2
3.688.255
Funds
15
3.043.071
6SO.221
3.693,292
3.688,255
The finaKoa
statements rfjpro
ed at)d author¢sed for iswe bylhe Truslees and SIgt￿ on their behalf by
Sir Christopher Scott. 81.
Chair of TrLSStees
On 101h D8¢en-thr 2025
The notes on pages 11 to 19 lom part of Ihese finanoal statements.
10

THE SIR JAMES AND LADY sCO￿TRUST
Notss to financial statements
For the year ended 31 March 2025
Accounting poliei•s
a) Basis of acCo(snt￿g
Thè Sir Jarnes and Lady SLx)tt Trust is a Trust ¢￿a￿j by a tkdarabon ofTrust dated 31 cle￿ber
1909. The nature of its acty*ities is disc105ed in the trustees, reput The registered office is Stn"ckiandgate
House. 92 Stricklat*gate. Kend￿, c￿￿Tra. LA9 4PU.
The finarrial Statements have tr￿n prepared under Ihe hi8torical (x)st convention. with the exeeption of
investments, which are ind￿Je￿ on a martet vJue basi8. The finarrial statements have teen prepared
in accordano witti StateMe￿t of Rec0¥nMe￿ PraCkn￿.. AcctyJnts"ng aThJ Rewrts"ng by Charrties
preparing t￿1r acr£)unts in 8Ccnrdan￿ wth the Finan(Jal ReF<)rting Standard applicable in the UK and
Republic of I￿laThJ IFRS 1￿21.
The charity Constitutes a publK tenefit ￿tity a5 defiwl by FRS 102.
The financ4al stat*n￿ts have prepared to gNe a aThJ fair viert and have ¢Jepart&J from the
Charities IAcwunts RerKJrtsl Regulations 2CX18 onty to the extent required to provKlè a Irue and fair
evl. This ¢Jeparture has invow followi￿ the Statement ol RecommeThYed Practi￿.. AttountiThJ and
RepK)rting by Charities preparing tt*ir acccyJnts in accordan￿ with the Finanoal Reportiryj StarKlard
appluble in the UK aThJ Republic of IreL3Th1 IFRS 1021 rats￿r than the Account5ng and Reporting by
Charits'es. Statement of ReccrnmeThJ&Y Pra¢Xh? effective from 1 April 2(X)5 whith ha5 sirrE been withdrawn.
The trustees Cry￿1der that ￿Te are rKJ material uThxlainties atrA￿rtthe tru5fs th.lty to c£ntinuè as a
going concem.
c) Investment irmr
Investment Income is acwJnted for in the in which ts Trust is ￿trued to
d) Expenthlure
Expendrture is irtiuded on an accwJs basB aTrJ attthrtth VAT whth canrk)t tre reowered.
Costs of raising furKls comprise those ￿$ts directy attrityjlable to rnanagw¥J Ihe investrnent
portfdB) aThJ raksing investrnent irwne.
Grants payable to Charitab￿ organisatiors are charged tn year wh2n the offer is conveyed to
the ￿l￿ent except cases where matenal offers are coTrYth'onal. swh grants ￿'ThJ recognised a$
experKJiture when the COrKI￿"L￿$ attad)iThJ a￿ fuffilled. Matenal grants offered subject to conditior
which have not met at the star e￿1 are noted as a comrnitment tyjt not acctued as expEnditure.
Grants payable to i￿liv*￿uals are chty in the of paYTh￿l.
Costs of Charitab￿ activities Ind￿je granis ￿M￿L&j and an arwts)nment of overhe&l SUFPOrt
costs as shown in note 5.
Gtsvernan￿ costs comm all c(6ts inv(dwThJ the acwunthlty ofthe Trust its 0)M￿￿n
with regulation and goc4J practce. These indudtr costs related to audrt arKI ￿gaI fees together wth an
4)portk)nment of o¥erkead arnl suppc*t (x)sts.
Support costs indkxle ￿￿traI fvn£*Crts ayj ha￿ twi alkM*d to actmty cost categories on a basis
consistent wth the use of resour￿$. e.g all(K*rvJ propErty Costs by staff use. staff costs by the ts.me
spent and other costs by thwr w.

THE SIR JAMES AND LADY SCOTT TRUST
Notes to financial statements
For the year ended 31 March 2025
Accounting policies IconLI
e) Fixed asset investments
Investments are a form of basK finanaal instrument and are initialfy recognised at their Iransaction value
and subsequenlty measured at fair value as at the balance sheet date using the dosing quoted market
price. The statement ol finanaal actmties indudes the net gains and1055es arising on revaluation and
disposals throughout the year.
The Trust not direct￿ acquire wt options. derivatives or other complex finanual instruments.
Q Fund acGounling
General funds {incomè funds) are unrestricted funds ￿tt￿h are available for use at the di%retion of the
Trustees in furtheran￿ of the general objecttves of the Trust and which have not been designated for
other purposes.
The endowment fund represents those assets whith must te held permanentty by Ihe Trust,
principally inveslmenls. In(x)me arissng on the endowment fund can be used in accordance with Ihe
objects of the Trust and is induded as unrestricted income. Any capital gains or losses arising on the
disposal of perrnanent fvnd assets form part of the lurKI. Inveslmeftt management charges and legal
advice relating lo the fund are Chatged against thè fund.
2 Inve$tm¢nt In￿Me
2025
2024
Stod(s and shares
Bank and other Inte￿$t
82.282
385
75.047
436
82.667
75.483
3 Investm•nt managèment costs
2025
2024
Fund managers. fees
Endowment fund
- Income invested fund
15.098
14.80S
15,098
14,805
Fees are also charged ￿thin unrt Irusts in whmth thè Trusfs funds a￿ invested. These fees for 2025 were
£5.707 for the End¢)wment Fund12024.' £25,169> and £0 for ihe Incorne Invested fvnd
12024.. £8,491>. Including commissK)ns. total fees for 2025 wete £46.802 {2024." £48.4651 leading to a
Total Expense Ratio of 1.5% {2024." 1.4°Al. Fee infom)ation as reported under MiFIID11 is more accurale
than preWouS￿ produced and accounts for the main inc¥ease ￿nce the preywus year.
12

THE SIR JAMES AND LADY SCOTT TRUST
Notès to financial statèments Icontinu•dl
4 Grantmaking
The ar￿￿￿t Cofnrnitted i• the year ¢x)ft¥)rw$".
2025
2024
4 gran15 to forrner ernpbyees of the farnityofts seiuor12024". 41
19 grtnts to Chantab￿ organtsats"ons12024.' 121
16,798
45.865
13.801
41.400
62.463
55.201
Support Costs Inofe 5161
7.￿7
7,930
Go¥ernar￿ (Xlsts Inote
9.103
7.499
16.670
1 S.429
79.133
70.630
Detaib oflhe recwts are shown in note 16.
5 Allocation ofsUPPOrt Costs and govemarKe costs
The brÈakd¢Jwn of support costs and how these were a￿ted bets￿en Governan￿ and
Charitsb￿ AGIN￿e$ 15 5h¢yMn ￿ the tabk
Cost Ty
Total
Bass of
AppNtionmtrt
Recharged staff (x)sts
offi￿ rental and costs
Professional fees
Sundry cost$
7.166
1.075
6.091
945
55
476
7.￿7
Staff t
staff timelusage
Staff tiryElusage
Staff tinwusage
55
536
8,821
1.254
2025
2024
Govemanc? costs
Independent eX￿InatiOn
Travel and m8ethg cosi¥
Legal fees
Stsff costs
Office rental and costs
Sundry ¢osts
1,800
475
5.874
1.075
3.894
1.021
119
60
60
9.103
7.499
6 Comparatives forallocation ofsupport G¢J5ts and gfftrnanG* ¢osts
The breakdown of 5UPPOrt costs arKI htxvthese were a￿)eated bets*en Governan￿ and
Charitab18 Acli¥ities is shcwn in the tth t*.
Cost Ty
Basis of
ApptyD"onment
Recharged staff ￿sts
Offic* ren121 and costs
Professional fees
Sundry costs
5.785 Staff tw
1.124 Staff tIn￿u589e
136 Stsff tjnwusage
885 Staff tirnelusage
1.243
119
9.130
7.930
13

THE SIR JAMES AND LADY SCOTT TRUST
Notes to financial statements Icontinuedl
Net expenditure and net movement in fvnds befo
gains and losses on investments
Net expenditure and net movement in funds before losses
on investments after charging..
2025
2024
Independent examinerfs ￿Muneral￿n
1.500
8 Staff costs
The ¢hanty doès not directly employ any staff. Instead it used the part-time services of 3 employees
of another Charity. the Francss C Scott Charitabk Trust operating from the same address.
Miss M M Scott is also a trustee of Francis C Scott Charitable Trust. The staff cosls re-charged are".
2ff25
2024
Salaries
Social security ¢y)sls
Pension costs
5,532
5.672
594
1,094
7,166
9 Trustees. Yemuneratlon and related party transactions
The Iru51ees neithei received nor waNed any emduments or expenses during the year (2024.. £nill.
For legal services during the year. payment 01 £488412024.. £3.8941 was made to CU￿eY & Co.
William L G Swan, Trustee. is a partner in that firm.
Sir Christopher Scolt. Bt. is a paid. nor7execArtive diredoi of Applerigg Limiie(l. A subsidiary of Applèrigg.
Yealand Fund Semces receives a fee as the Administrator of the Caryetian Generation Fund.
Holdings at 31 Marc* 2025 and 2024 are set out in Nole 11.
Fees ¢harged by the Generation Fund in the ￿2[ amounted to £13,60212024.' £18,226).
14

THE SIR JAMES AND LADY SCOTh TRUST
Notes to financial statements {contiDued)
10 Comparativès for Statsment of Flnanclal Activities figures
Pefmanent
Endovmient
fund
Income
funds
Total
2024
In¢ome
Investment income
75.483
75.483
Total in¢ome
75.483
75.483
Expenditure
Costs of raising funds
Investment management C￿51$
14.805
14,805
Expend1ltJ￿ on charitable admties
Grant making
Grants committed
Grant related supportlgovemance o)sts
{55.2011
{15.4291
155.2011
15,429
{70.6301
70.6301
Total expenditure
14,805
70,630
85,435
Net proftslllosses} on inveslments
121.587
45.867
167,454
Net incomellexpenditurel
1C6.782
50.720
157,502
Re¢on¢iliation of funds
Total funds brought forward
Total lutxls caffied fO￿ard
2.940.903
3.047.685
589,850
640.570
3,530,753
3.688.255
15

THE SIR JAMES AND LADY SCOTT TRUST
Notes to financial statements leontinued)
10 Comparntives for Balance Sheet
Pemanenl
Endowment
fund
ItKome
funds
Total
2024
Fixed assets
Investments
- Endowment fund
- Income Invested Furx1
3,051,610
3.051,610
577,032
577,032
3,051,610
577.032
3.628,641
Current assets
Cash
Debtors
74,677
74,677
74.677
74,677
Creditors: Amounts falling due within one ye"
3,925
11,139
15,064
Net eurfynt Iliabililiesllassèts
13,925}
63,538
59.613
Total assets less current liabilities
3.047.685
640.570
3.688.255
Total net assets
3.047,685
640,570
3,688,255
Fund$
3.047.685
640,570
3,688.255
16

THE SIR JAMES AND LADY SCOTh TRUST
Notes to financial statements {continuedl
11 Investments
a) Endowment lund
2025
2024
Mark¢t valuc at ￿gInning of year
Acquisitions at wst
Disposal proceeds
Nel Ilossesllgains on revalUat￿n
3.043,210
765,239
1774,05n
10,484
2,935,021
570,037
1583,4351
121,587
Market value at end of year
Uninveste(I cash and settlements pending
3.044.876
1,995
3,043,210
8,4rx)
3.046,871
3,051,610
Investments at market value comprise
2025
2024
Fixed interest
Multi-asset
AMernatNe invesbnents
Global equbties
UK equsties
Overseas equities
458,994
685,171
145.534
1,(#)5.￿3
194.487
554.787
441,108
678,154
187.965
1.034.516
271.724
429.743
3.044.876
3.043.210
Historical cost at end of year
2,202,430
2,202,430
b) InGome invested fund
2025
2024
Market value at beglnnSng of year
Acquisrtions at cost
Disposal proceeds
Nel Itossèsllgains on revaluab.on
572.784
526,917
6,117
45.867
Market value at end of yèar
Uninvested cash and other seWerTwts ￿nd4Th3
578,901
4,251
572.784
4.248
583,152
577.032
Investmnts at market value conwrise
2025
2024
Mutti-asset
578.901
572,784
Historical cost at end of year
302.085
302.085
17

THE SIR JAMES AND LADY scorr TRUST
Notes to financial statements {¢ontinuedl
11 Investments Icont.)
All investments are either listed on UK or overseas stock exchanges. or valued by reference lo such
investments.
2025
2024
Material Investments arè..
Carvetian General￿n Fund
Stramngatè SA Sharès
1.236.538
526,755
1.229.522
434,976
The Tnsstees consider indrvidual m¥eSt￿nt hotdings In excess of 5% of the portfol￿ value to be
matèrial.
All investrnents are carried * their fairvalue. Inveslments in equitie5 and fixed interest securities are
11 traded on quoted public markets. prirnarity the London Stock Exthange. Holdings in common
investment funds, unrt trusts and open*nded investn*nt companEs ale at bid price. The basis of
fair value for quoted investments is eouivalent to the market value. using the bid price. Asset sales
and purchases are recognised at the date of trade at cost (that is their transaction valuel.
The smJnffican￿ of financial instruments to the ongoing financial sustainabilty of the Trust is
conside￿￿ in the finanaal review and investh￿nt poly and perfommnce sections ofthe Annual
Repo
12 Cash
2025
2024
Cash 8t bank
Fund manager
40.554
36.056
42.022
76,610
74,667
13 Debtors
2025
2024
Income Funds
Prepayments and awued inco
14 Creditors.. Amounts falling due within onè year
2025
2024
Income Funds
Grants payable
Accruals
9.541
9.541
11,139
11,139
Pemianent Endowment Funds
Accruals
3.8¢XI
3.925
f 3.341
15.064
18

THE SIR JAMES ANO LADY SCOTT TRUST
Notss to financlal 8tatemonts Iconttnu8rt1
15 An•lW$ A￿VAm*m¥
Gain on BalarKeat
3t¥t ¥arrh
2024
PerrnanwrtEndowrnent Fund
3.047.685
15.C88
10.484
3.043.071
Income Fund5
Incorne Invested Fund
$66.S4f
74.029
640,S70
6,117
S72.858
77.SÉ2
650,L1
82.667
82.667
9.133
[79.1331
,117
94.731
3.688.255 82.667 ￿ 1fj,fj01 3,fj93,￿2
T￿re$ll￿#￿simt¢￿j 8Thytr*mxK¥xe￿ekn1ut￿J r&set aLvMty 110 w pag2 12.
Gafjn OTr Balance at
westmerts 31stMarch
2024
31st Marth
2023
Pennanent EndrMmentFI￿d
Z940.9J3
121.587
3.047.685
Income Funds
Ir￿orne Inve*d Fw
Irwne re8erve$
520.674
69.176 75.483
589.
7S.483
45.&7
566.$41
74.029
fj40.570
tTO,630}
140.WI
3.530.753
7S.4B3
91.022
3.fj98.Z55
18 schedu￿ olGr•nts Cwmthd
2024
Bdto) AduttAutk4m
CVS
8dton CVS
ton Deaf SoKxty
8Lqton GUIPJ ol Hdp
Bolton Lads & Gits CIL
8olton L¥Jns aub
Chik1￿￿S Pkwial Pynas
Create Bomon
DeafBlITh1 UK
Denan Hou*
2.570
1.230
1.174
16.CO)
116.rpx)}
Emm¥us I￿rded dutwll*>
FAB
Faffrmxth Baptist ChU￿h
Harmoryyr
3.oc
3.OCI)
1450
1943
Laroshire CnthlFt￿nd
LLStening Br￿5
Makiffj Swe Gra
Ll
Reach FwDity
Sl Pete[5 Chur¢hH&MWI PCC
The Guild ¢1 H
The Brty ChL¥o*
The Hub
T￿￿ MusicGr3nl Paym
75Q
41.4fyJ
Indlvlduals
16.798
13.801
62.463
55.201
19