Ch¥ltyTr*lrtUM rAMber251499 The London Scottlsh Headquarters Trust Annual Report and Unaudlted Flnandal Statements For the year ended 31 March 2024 Gilbcrts
The London Sc0tt15h Hthidquarters Trust kndeperyrfeMiner'sPryt Statemetht 01finalI1 attY•it•Ès Balae sheet Notes to the fThncla st*ements 1-16
The London Scottlsh Headquartets Trust Le8al and AdmlftIstri lftforni•tlon MrPJ. TD KC (Chaimonl lady Rathél JOI5108urt Mr MJ. Fdrtead Major M.0. RaThlaN •ArS.D. Lo4lock ¢Jwrlty number 251493 Prlnclp•l 4Odrnss SWIP2DX Indgp4nd•rt 65 Lorthn Ao•J StAJbans Royal 8aTrkrfkntla1 La¥the House Farnboro GU14 7NA 12 Snwlhfiebj Stseet Lond( ECIA YLA
The L¢yKlon Scottlsh Headquartevs Triist For the >ar ended 31 March 2024 The Tw5tee5 Presertthetranrm rep)rt andfThndal Strr tortheyearendÉd 31 March 2024. The Tnt 15 rwtered With thechath forfr¢¥&l •d W4esdwMy nufter251499. The Iln•ftdal Statem haw beeft prepar•J In xccfdame the polocfjes set out In e i to the flnancial Statennts and compty wtth the TrusV$ 8Mi the Chariknes Acl 2011 aT¥J "knwntin¥ Reportini by Charities.. Ststement of ftecommend¢d Pt•th¢t •pplI¢•b to thèrities p¥r¥ th•r ¢ouots in •¢cord•n¢e with t Flnanaal Reptsrfty St•dard applir4blq in th• VK and Rewlled11¢1ad IFPS 1021" leffectfr lJafiu8ry 20191. The 1886 Tt Dvd wdISth#th•Qb)eCts olthed• arthatttshèM the wemts•s 31 $9 Bttklnoham Gale". l. To promde and fflantsln a Pla of reunh)n arxl meetJr¥ kn pwit of Ith1. s0(i•l and other pre$ of recieatk>n 2nd for 5uth natNes of Soxland resld•rt in Lwdon and Under wlattons and reMwKtions as m•y be specified aThJ IMSe froffl tmme to by the Tvu5tets. 2. To permit the Regimehtdf London Scottish Rifte ¢thr néitwy in the Ser¥1 oftt CKrwnwhKh fromtirne totime w in theOpinn of ITs¢S rewesert ¢xtry itsary&Sl0fft and be ¢Ntitledtt StaAd ln the place ot said London ScDtttsh ArAe Wurtev5 lo (pY the sald premlse5 or aiy ol part thereof for drill. aymnastics orother yposeforaryterm gfyea 3. Ihthe of th• diSndt of thesaid re8kneni or as aknre5ahl then at thedL%cretion of the Trustee5 to hold In trust for Hhl¥nd ety of itywjon. the Ctypomion IrH>W Scotsrare) and the Caledonian (now rhe Royal Caledonian Edu¢ationTtustl wfur Sh bleS intsister at such a ume.. 4. The detd pThhJéd exten>N Ftyjwers for the Trustees to sel ¥Epl¥e tlr buibjin1I ary equ¥ity re¢¢ved b• hdd underthe samttrusts. In 1985 the Tru5tee5 rnade a8reenw to sel the w>ses at 59 ev¢klnzham Gate and to purchase a te •t 95 Horseferry Road to bulld a newHeadqUorts. Ewa1tynwa$[ecetr¥ed to be heldasowtsl oftheeTrth)wment fun The Tru5tee5 h•R paid due reqard EO Isswd trjt tt Owiry Cwoysslon In 4Jecfj¢lw what athiies the Yrust shoub The charty 15 established under a Tnm Deed dated 23rd W 1886 as arnen ty Cty CoMft)Th khemes Sjr the dministntion of the Trust sealed charitycommjTh on 7th Febry 1939 9th Au8USt 1993. Mr PJ. LabthTD KC r Vice Marshal R.T.l. Munm CBETOVRDiIChair} Colonel C Stagz 08E Mr P. Lindsay Lth ftathd Jthn5ron*&Jrt Mr M. V. trmiston Mr MJ. Felsttèo Masor M.D. Randall MrS.D. LrhtlrKk expred XIAw1120231 (Tenure expired 25Aw1120241 {Pwed 3January20231
The London Scottish Headquarter5 Trust Trustees, Repwt (Contlnued) For the year ended 31 March 2024 The go¥ernk)g dents that thve Sh be l ex off0 Trwlee. Re8Mtntal Ind upto 7 (Tropted UNler the terrn5 of the ih? Trwtee5 hm to (tropt new Tnjstees to ffll va¢an•es wmhln the mberofTwstees UlTedthereITh. TrustQ15 appoirt•d on 28th Cttober 2021. Thelr inwnedle reS1b4itY ¥R5 to rovivw th• •¢tswty of the Twst and its I. Publ1¢ 8•n•fit The TNstees are tartfident that ttry he rAJmpliEdwhh theirduty ID Secti 17 ofthe tharflie5 Art 2011 to havt dL reqard to public benefrt iuidaTKt published by the Chanty Conwnlsslr for Enoand and Wales. The Headquarte Trust provides publK benefti in that it Supp5 the knrycorrwnwmty the kD1ti5h wimunty in ior41rn and abro4d. Through fts 8rants progr4mme access tts L{doN Sc0tt45h Hrxsq the Tru# aso enables other tharhles io maxlm15e thelr publk benefrt ¥1 5UPPOrt ofthe rni1iiaryfan. pubIcAre. educaikn dscoiitsh the art5. Flmndd re¥lew The lèase of the premlses ran tyA Irb March zoi8 and ihe Trwttes unable to aKfee terms wilh the Reser¥e For¢$ and Cadets AssocSatbon the lease. This sUd in the relo¢a¢iw of ¢"A. London Scottish cOmnY. The London Retiment to other militsry atcthllmdiM Tlnth the c0Tr5ew knssof incomp and rontsfibutton to the runnlnK COSt5 f the pmises. The Trustee5 embaiw on an ambkns scheme to corNert the pSe5 Inlo • Hub for %¢ts people In london. The plan would have qurte en$r¥t to the felled he••1 on 5ub5tsntial sums of t•pltal efther by loan or tthlantlwi. Fe45it• stuthe5 al pl comSed as wem as a fuThlrals6w Irave and advlce from various consultants. Other rrylmental lurK15 were used t9t1naKtt pl•n. At the same time ¥ trodwycoffjparsy. Londorb SCOtth Wunteer Enterprises Lirnid IiSVEI. was ueatsd in the joint ownership ol the Trust and The London ScoiiLsh Trltst ILSRTI to eW¢4t premi5ts from events and other ¢ommer¢ial artlvttks. The rlmthrt was not wopthous•nd it bttame •parentthal had fd the tr•kni compay did not succeed In walslrq fd$ to CO 04rts0YthI w•ntse In frt cmparygJfferedsi6nrfKant losses. Thfvtur•ofth• Trustis some seriw5 doubL acthlty Fr¢rn when LSVE was forned, it managed opeffled Loth S(sh Howe on behalFofthe TrLtSL tt oryupiedtho bulldin8 on a tenancy ai Wbll and ld an illnual to the Tt. The Tr also recrNered an approwlate propmlon of the rates and Insurance from the iradin8 comparyin addiry totht renL LSVE wa5 liquldated in June 2022. A new tradln8 tomp3ny 2022. SH itd. m•n•ys the ww)6se> alm of the compary is to Ie fir1 supptytt• thtTrustsfrom 3(hle4d wofft.
The London Scottish HeadquartW5 Trust For the year ended 31 Marth 2024 iknr5tricted income for the £I21112023. £1(Kl.4fOI. 525C•) Donaiions from o Donatyofts frorn individuals Other incorr I Intamè 34.335 30,876 113.211 47,960 The results 5howthat therewasan LNvall delit thI yof£42.122P023: deficlt clQ4WI. Th• the fvndsar 3ts1 Mth 2024 areash)knvs: Totsi fv•ds EThlowm¢rt and restrKted fwJs Vnfestr4Cted fund Idefidtl Trf•lfvnth 356.856 12.453.232> 903h24 15356J65 12.410.519) The delkft of UnrestrKted Funds in&kt5 thot an eqimvalert anntaI the EThkThnt Fund hasteen expende TheTrust held a small InvestmPtIO1I0yWI18Carewo01phMi L. Thi5Ta5 uk1ated dn&the Planiforlkn perlods The Trustees are cimcerned about thp of the Tru51 and the iryact of nts duriw the yeat and earlier. Thty havÈ tskÈrt tiOn to reduce ar 8enerate irwne and WIM be CondelI wh tan be done w r•ctKy the positbm, partkularly ofthe End0rtt •rwJthe p055knItyof ¢efuTrd LeBal ad¥1 has ten taken. NÈW Truttees wwé appointed 2021 and the (Jrn fhwnraal y wts) hm. the Trnstees of the other A kn fa¢ility for £1.2m was tsken wfth Noart's Bank kn 20ZO. secured the Frtehold wemls. A¢ Ihe •r end £6,116 raIned uThJ5d and was hdd in an acc(rtutt at Hwe's Bank The is a wibiltty. 7•thi¢h the Tntstees I actfftty pur5uin81 that they may be ab to secure fvnd14Y4 to sétde Trk)¥e it lalts in 2D25 wrthout sdlinB the building •nd to paythe interest on thekn tsniilth•t1h.
The London Scottish Headquarte Trust Trustees. Report (ContlNod) R>r the ended 31 March 20Z4 Rlsk m•n•ynxrt The Trv5tees are acuttly lyme of ihe iisls to whkh the Tr41St has been Sin tht terrnlnatlon of the lejse of th premlses Marth X)18 at ¥thith point there was a 5iy¥lkart lotyof thtomeand 3 verysubstsl irKrease the burden ot C05t to the bvllding. The TrueeS, ttwou8h LondDn SH Ltd, he ien me•sm TthKh en•ble ihe to operatè as a Éoino ¢oR¢em on a day io day basis. ale in thscussion wlth the trustees ol other WMItal Tnjsts th secure fundln8 to enable the HÈèdAuarttrsTNstto meet some upccthlnteapiatomi. The TrleadquartU5Trust fwstee$ ha¥t desi8nated the Scots Guards as the unlt star¥Jin# in place of the London 5crttssh Rifte for the wryw5 of CIou5e 2 of the 1886 Trust Deed. The Trurtee5 JVE, taielhtr with thè other Trust4 and dow links with the kots Guards across a rafi8e of attltIes. The S(ots Guards are o)r4sklerk¥ what Use they ¢(d m of pjrts of Scottish House. The Trustee5 hast negotiated a loan IT the Swts Guard5 Charity to enab them to meet ur8eni CaPit•l requlremerts. They h• k•the Charity CoDwniMion inkYrned ofthl¢¥¢nen Ac(¢Ydln8ty. wthllethere remaln lutUrevO[theTnrt theTntstee5 at pre5entrEa50n to belleve that the th¥rtywlll be ableto contlvje wrto thè future. TheThJ5tees' repOrtw apped b¥ the Ooard ofTntSte Mr P.J. LtydenTD KC (chrman) 10 -tOber 2024
The London Scot115h Headquarter5 Tru# I rep)rt to the Tr¥es ofi my ex•rdn4tiw of thè fthantial Stthn ofThe Lmkn 5¢otthh Tntst lthe Trust) rtheaT ended31 March 2024. As the Tn&tees of the Tfust are respxslble for the weparatxffi ot the strternerrts OrdIn¢t wltb the reqwremerts of the Charitie5 Act 2011 (the 2011 Actl. I repon In respect of ry examlnatkjn the Tntst's knrthl strtefflerts cariied •yA seciw 145 of the 2011 Act. In carryln¢ out my Èxthnatlon I ht fiJlltyd all tht applKable DktttiM$ 8i4n by the Chartry Commi551 under xcllon 14515Mbl ofthe 2011kL Your atterrtiw is dmvn io the ihat ¢h•rity has w¢pd fknarwjal siaiennts in arcordarKe with Accourrtln4 and RertknR by 0MritS prepuiry their a(counts kn aC(Ord the FlrwKY•l Rep)rtiw knjard apable in the UK and Rewbllcof Ifeland IFRS 1021 In wefererKei0theAccr•ty 11eportlng Staternertof Recijmmended PtIce isymd IAprll 2C05 whKh Is releNed tolhiht eXkrtrteatkn has n(w been wthdrawn. l uThlerstsnd that tlths has been done in for fifi state15 to a thie aThJ faw vlew In XCOrdan wrth Generally Accepted Accounifjng prac1effÈctfft for rww1rrts beg#iniwon wafter l J•nuay2015. me cause to bdie4 that In any mrial tespecL ac¢oyntlnK re¢ordsre not kept In rtSPettoltheTnJstas reyed by5ertth 130 ofthè 2011 Aci: or the financial statements do r)t COrd with those recwtr.or the finandal smements do r#X ¢¢m4y ith the wlicable rwMremrts ¢onreminR thè fomi and eortert oé acu)unts set in the tharitit5 Ikttyjnts Ilep)rtsl Re8daiwts 2r other than requlrement that the CtyJnts 8lve a true and falrwwhlth is a m•wer¢onsidered as partof an indepUeJMwwtMjD. l thaw attentkn to the lIrnd Tru5tee¢ Repryt and the 8OllV4 cowthn att4wntlr¥ ai Note 1.2 whkh e%pl•ln th•t a mat•rial uncertaintytliststhatffltycast &Jubton ttTwsVsabl%ty toNIAe •$a 8oirwacon¢em. I confirm that there we M ¢xIr mattets the e#rin•t1 to fv¢h attention should be dt•wn in this rewt In orderto enable a oftt*fmantial Statem tobe read. PendraKon House 65 London Road St Albans Hertlon15hiT• ALI IU Dated.. 10 November 2024
The London Scott15h Headquarters Trust Statement of Flnandal Actlvliles Forthe yearended 31 M¥th 2024 2023 a15oNs and l•g•¢les Investments 82.335 •2JJ5 525LXI 47. 52.sc 47.960 Totsl kn¢•m• I¢Y),460 Aatsin8funds 52 61 61 CharItae act6vttles 155.8n 124.705 124.705 Other 61 61 155,924 124.766 61 124.827 14et 6alnslllosges1 on 12771 IZ771 142.7131 491 1422 12431%) 124.6441 FUNJ balaKesat i Awl 2023 12.4105191 15356J65 12.945A46 123862131 ts?56,70a I2,970.4) Fund bal•Kes a131 Pélarch 2024 12.4S3.2321 IS356JS6 IiW624 11410.S191 15.356.365 11945A46 The statement of finarKial adi¥lties al ens •MI I)51es tr yw. M IncLThe and ew4Jtnditure derive frorn conlinvin8 artMts. The noteson p•81$810 16trm w ofthesÈfww $4teN*n
The London Scotttsh Headquarters Trust Baknce Sheet As at 31 Marth 2024 TanÈitslè assets 15x128.124 13,035 IS1.159 Qebt•rs Cash at bank and in hand 19,480 44.748 1959.5411 Notcuryeftt 4•tslities 1895.3131 14.145J46 th•ft ¢n•y• IL2LXI.IixII 12JOJM4 12,945A46 Capbl fv$ Endowment funds-yrral J56A56 15J56365 UrtrethLted fvryJ5 (445J2U I2,41019) I2,94546 Th? notes on page$ 8 to 16&ym p¥to1tlIn?ndaI stalwne ThefinaThcl41 st•temerts *r• appd the7[lee50ft 10 October 2024 Mr PJ. Lawlen TD KC Ichalrmanl
The London Scottlsh Headquarter5 Trust Notes to the Flnandal Statements For the year ended 31 Mth 20Z4 Accwntlry pollcles The London Scott15h HeadquarwsTnNt is • Try¢¢¢d with the Charity ComMissTh in End and Walts. nuTrthr 251499. Ms pfvKWal offte is Scolllsh 95 NoTheferry Road. London. SWIP 2DX. 2011, FRS 102 'The Financial Rewli standxd ap¥b kn the UK and of Irelan I%RS iori and the Charfties 50RP 'Accourrtlw nd Char5.' St•tement vl A¢rorrwnerthl Prnrtlce •pplit¥ble to ¢h•rities preparlng thtir acwunts in a¢dte with the Fin101 Retortin8 Standard arWKable in the UK Ind Republic of Ireknd {FPS 1021. l¢ffeafr l Jaftry 20191. The Tcust isa PLlk 6Erfft Ertmy as defified by FPS 102. TheTrusthas tak•) prthi5W5 in thew fwdWltsfiDttoep•re a StatemEAtolCa5h Flow5. fequlrtd to W0de * ttuÈand tsIrVW. Th65 departu has folloth the Statement of fterofflwded Prartlce for charhles applWn8 FRS 101 Atrrth•nthe tsftht ststtment of Rt¢ommtNded Pr•di¢e is refff ¢0 on the Re8lats butwhxh trA551n¢e beenfttrOT The financial ststements ar• Preped In $terfl whkh is tre cuwrerKV of the TntsL mottry amounts IA thesethnanclalxemefits to tt¥T•s1 £. The flnanclal 5tatemEnts have been wepared wder the ht510rlcal (oll cOrNemn modfjfled w Include the rewJluatlon ot freehold propertles and to Irtlude Insstmtrt rryr and certain finarttiil irtstruments at faff ¥•lu& The princwl aCCounnI pol¢les adopted tout b¢v. the Trnst wlll tontlwe In optrational existerKe for the frrfeseeabk firtwt, hMver. the Tw#ees ware of certaln m¢rial unc¢rtakntfeshkh m4y¢ausedoyb¢ Tiu#'s•blitylO asa concem. ThèTrust¢es are torwned thattht Tru2wll STryJThent funds ta tontinutto meet Its ObrtS. The Trusrees are working towards a plan that would allow the TnJ5t to contwiue in opvèlion. Ih)wvrn It is t cert•in at thfjs lkne ihatthe plan wlll bese$s11. Unrexrkiedfunds are w4llablefor use #trdls¢reiw ¢fikTw5teeslnfvrttrwwofthelrdrltablt obiertNe& Restrtcled are sublecl to ¥clfic cond1t ty thnw5 or to htrwthty m•¥ be used. The purposes and uses of thE rest1¢d fund54rtstt¢wrt Inv Th)testrttrlln•thl ststehx ErthwThnl lund$¥ wbFrttO by thaithE ¢ap6141 be rnalrtalned tytTTst. L4 Ile Income is ie¢wred when the Trust o letyly ntiiJed 10 It after •w perforMaTr condfjtknns ha¥e been me¢ the mounts can be meawred rel•Yy. and11 15 wc&Jlethèt time be rttevrtd. Cash donityo •r¢ rgIlIed Other are rec(wEd orKe tt Trust h•$ Notrfd of the snathjn. unless perfOTA£t tond0& rÈwtre Of the amounL Inc(N tax recthprable kn Tdatlon t donalions roced under GiftAid deedS of(LN*n tsrecw15ed at therne ofihe donaTr.
The Lond( Scottish Headquarters Trust Notesto the Flnandal Statemerts IC4Xe0j For the year •nd•d 31 Marth 2014 Iskn)uwry re¢elpt Is rftheaM0 ts rr#n.the be8Kvts twted a5a ci¥rthynt355et. xpendttuR Is reco8nlsed On there Is a W14x consinth c4JlWon fftnsler ecornml¢ benefft io ¥ Ihlrd yrty, i$wobaWe thata tracth oleeonomx b¥fitSTTA be wlred in setdeNrt and the anrt of tht obllK•tlon be rneasured fellab ts ¢kssthed ty èctl¥ty The taS of eh acilth are made up of the totsl ddwe¢t rosts and shared cos indudin8 support tOSts tswofved in undertaknrf eath acti. cwed t¢>sts èttrJut•bkn to a stnle actmty are allo¢atEd dlrertly to that a¢lt¥lty. 5h¥¢d ¢asls whkh to nve than <>ne actmty and support C05t5 whith arE not Central stsff costs are all(Kated on the b3w oftM¥e srt and dep¥eclat)n thxles art •lo¢d OD the portion ofthe •sset's ust. Tane1e fixed assets are at cost and me8gMed att05t valuation, net of depreci•tl d znyimpairmentl¢>sses. t)wiation is reccfnised so as to lte off the (osi or vaknion d assets resfjdual values or thelr useful Ffeehold land •rl bulldlws FIxtU aftdffttkws IA.33#fa4ht h'ne Thè 84in or loss artsl•8 on the dlswl of asset & determh as the dwftrenc th s and the trylfi¥ valuE ofiht assd. and is recols¢d in tP swement rffkuncial XlMile> The Ireehokl kyoperty became a GTrdell fisred Decentr2021. FrAed a55et IrtmEnts are lftknalty mèasured at wk eKthdkn8 transadon costs. and are sul)sequEndv rneasured at fair value at each rw[1 date. Chan8es in fair vahJe recLTnlsed in net ltt¢omeJlÈ¥pendllUfel for the r. Transatt)ntOAS are •wsed as At each reportirf dat, the Tnjst Yetw5 tht •mtyJrts of ifs uwble assets th deterniine whether there is any illdi¢a1ll that tFM)se •ssets sUffed inwtrmenr k)s& 11 any gKh Indk¥)n ts, the recoverab amouiit olthe assd Ksestimaed In wder to dètemthtÈXthfft 0fthe1O55 Ill •Thvl. Castrt and cash equl¥alerts Include cash In hand. depogts held at cal th nks. other 5hort.term 9d Inyestments with ariynHI rnaturitie5 of three rnonths ¢Y IE55. and 04rdrkn. B¥th ordrafts are shown wlthin borrow¥) i cwrent Ifabllltle5.
The London Scottlsh Headquarters Trust Notes ts the Anandal Statemerts 1cont1rnd) Forthe yaar •nd•d 31 Marth 2024 (c4nned} LIO Hn•ndd InstThmÈ The Tntst has elect to ap1 the prry4i5Kw ol SeLlion Il'Bask In5trW. ar¥J Sectlon 12 I)thei Financlal ItrUments ts5LS' ofFfiS 102 toall of ftsfltWKi¥ Flnandal tnstluments arn r•Cav1 tl Tn$ bale she tokn the Yft becomes party io the torrtrartual Prls1o$01 insiwmenL Fln•n¢•l •ss•ts and liabkn • 0115et. with the net arnounts westd Oft the fmcial wthen thefe is a le&ty enforreable ii8ht to set off the CLnised amLWrts and there 15 an intrntin to setrle on a net basls or to reallse the assetand settle the liabllrty 51mthanethtsty. 8è5ic financ(al assets whlth Nlude debtor5 ash Ww¢e5. are initlth w5ured at traTrsèctlon prlce In¢luini trnn5action costs and a subsetyrth orried at arnortlsed cost effÈttl interest rne1 unle55 the aryanment consli1th5 a trans[. t5 meaSUd at the ¢vesent value of t futwe rttelpts ¢fiscounTrd at a m•rket rtte of kntt. FThrthl assets da55ified as recelvabbE wthin one year are not arnartlsed. 8aslc flnaOaI ILth&iies. rrethtors and bank bans are Ir4tbth recc4nlsed at ty•fvs•rtbx priee unle5S the mnstitutes a ftn•tKby transactw tht ddA MlUnnt is meaxwed at the PfEsent le ol the fvwre pa¥ments disCOUrted at • rnarkrt rate ol¥threst. FThnd4 li•knliesd•5yfied as payable ltNn one year are rm Trade creditors are oblqations th pty for glsor that been acqu1 in thtordinaryc¢Jurse of operatlons Imm 5uppIiw5. Amounts pw4ble are tla5sified ascufreftt labthties rfp•mnt isduÈ within one year or less. Ir not. they are Pfesented as nOnrfUrt lfjabllibe& Tode creditors ¥e initièly at tranSa¥n prite Ind subsequenV FimKial IlablNtles dtte(LY whenthtTnsVs expn or•re d15charpd or celled. In the applkA)n of the Tntst's x¢rn11 pol. th Trwlee5 are to make jUdyntS estlmates and IsgjmptK abr iht rarryrynq amourt of •ssrt5 aryl kbItt$ th•t ¥e )t readlly apparent from other 50urce& The estlmatrs and a5xKiated assumptions are based Dn hiAorical expeYl•Ke •nd other lactors that ¥e ton$tred to be The estim•ths and WK$erA1& 4NUmPtWXJ5 are an oryoK2 bag& lknsion> to ac¢ounbn8 estirn3tes are re¢o8nistd In the perw)d in %¥thith the eM¥nate is We5ed the re¥ision aff¢rts perityj. or In the pr of the revislon and futur• perityjs wherthe rv4i51on affectsboth ¢wrent aThJ period
The London Scottish Headquartors Trust Forthe year ended 31 M•r¢h 2024 luThJ$ Omations ar Bllts Grants receivable 335 52,5( 52,5(K) fund5 1014 fd$ R¢nt•l rnc¢ Inccme from listed irr*wlm Interest re¢eivable 475TrJ 452 47,960 fvnd5 Irhylment managemert 61
The London Scottish Headquarte Trust For the ended 31 l•lar<h 2024 2023 Oepreclatlonand Imffit 373 47.716 Grani fundlni (see ryte 7) 12,$00 Support 127.499 124,705 unrestrIrt funds 124.705 In the year ended 31 M¥th 1023. theTntst madèaw ofa2J(L+to The L¢thA 5¢oitish Re1ft1Toi. None of the Tiwttts (Lr ami abnrt¢ted with thernl received ry Tenwxrnli or beths from Trust urfn8 fvyear. Ends)wmert funds I15 G•n511tQ55e51 on: Re¥alualSn of IrNeSknis Sale ol in¥8stmgnts 12771 12771 10 Tèmtk Thecharity Is exerw from tayatkn its actMts be£aysè¥l ts IrKome ts applled for chariiable purpxes.
The London Scottish Headquarters Tnist Notesto the Flnaftdal Statements For the aT ended 31 Mar¢h 2024 Al l Aprd 2023 .cth.ocA) 209.125 15,209.125 27,138 27.138 Al 31 Marth 2024 236.263 15.236,263 l April 2023 Oepre¢iatitintharyed in the 18LC 28.3n 18i¢J02 Z8.37Z At 31 Mar¢h 2024 209374 2C8,374 Ai 31 Marth 2024 Is.1)1 26m 15,026,889 At 31 1023 28.124 Is28.124 valueofthts pryty tsn0b1efd a55ets is É15AXI.i)(2o23. £15.1)MOC¥)I.
The London Scottish Headquarters Trust Notes to the FhMn¢lal Statements (CortlNed) For the year ended 31 Marth 2024 Al l Apr# 2023 Valuallon than6es IrhEstmeni rnanayrnent kns Dlsposals 13x135 11031 {13A751 11031 113.4751 At 31 Marth 2024 At 31 Mar£h 2024 At 31 Marth 2023 13.034 13,035 JL154 19, Banklgan. srfured Loansfrom rtl•ted mental trusts Other lon¥te h)3ns I.xoAc 912.950 912.950 112.950 Pwble OnEar Payable afterone al 912J50 iAODm> 912,950 i.2). The bank loan Is secud by • flxEd the freelb)Id w•i¢rty195 Hthrry Ilo•d. Lond¢Jrn SWIP 2DXI. It Is repayable In lul b¢foreJuty 1025 and c3rrle5a fThed interest rate of 5.5%pa. The loan for £2(1),CW was made by The Scots Guard5 Charity in March 2024. M wll te repay3ble wlth Interest on G months. wrinèn requesL butthis nottceeannot be Wrthln a pfltsrn.
The London Scottish Headquarters Trust For the year eThl•0 31 P•larth 2024 912,950 912.950 19.524 dé treditors Otheicreditofs A¢¢Nals attd deferred WKoffle 27,066 975.980 959,541 ndowmert fvnd5 repre5enr a55ets mu# be W fr# le bErbEfitofthe(apI benknarR5 bythe Tnfft. arfslw on the •thwmtntfiHtsfan be usedjn at¢L¥daKelth the obiE¢tsol the Trust and Ls included a5 IireAri¢Eed i¢Koffle. Arrycapltal galns or knsse5 on tsa5setsf(Th part oftheknd. Freeh¢kl Fund 1986 Fund Freehohj Fund 1986 Fund 15.356fi55 1611 127 15.356,317 48 IS.356.703 1611 12771 15.356.365 The Freehold Fund represents tht tarryity TAluÈ ol The Rwnental Trusi HÈ•dquartets •rd fuThJs SubSeqtI¥ recewl fordllapJats. development of 95 Mofsefeffy Ro•d In a¢¢ord•nte wlth the Cowt Order d•ted Icih January 1986 at)d Is to be held as part ofand onthe same terms a5the En&)wment Fund. The Tw5tees prtoexpend the Irm trom thi5 Fund andthe fvtuwelK(ffi¢ oftheTn* from rents•4 1rhe5tr for the bertfft ofThe Relllmtht. .15-
The LMdon Scottish Headquarters Trust Notss to the Flnandal Statements lconthl For the year tnded 31 Marth 2024 To1 fvnds 2023 2023 2023 Fund balanc at31 March X)24 ar rtpresented by. Tawdible assets Iwestments Current a5seisllllablftle 28.124 15.¢XQXt•) 15x128.124 I35 13.03S 8.184 1895.3131 1719.3811 rn32661 19)3,497) 1702.4921 IS.6.1 WYry624 IL41WJ,c•xiI li8.1X1J 18753731 ISml.219 14,145.846 {L2,c(lI I1,200,i5 Long term liabih.lies 1702.4921 13.&K116 11.750.740) L750.740 18753731 13.821.219 11535.1461 1,535.146 12.945.846 lrtterfund loan 12.4S>.2321 15J56.856 Jig4614 12A105191 15.35&365 12,945W6 The tharity rettNed a Irdnt of £30i(il In the ar 12023: £S2AI)I from Tht iondtsn Stott45h Ae4irnentsl Trusi. chaflty vArh ¢ommoTr truxees. In the pre¥KMJ5 V. a of £12.$ was made to The London Scottish Wimental Tivst (current year. th"n. The Chwitywas owed 1.153 LcThlon Scotttsh Rethmrtsl Trnstai the b•11 shed d•te12023.. £13.5941. The Chaiity hod long tetm h)ans ol f816A50 11023: £81&8501 io the London Scotth ReRfment 1995 Charity aThl £96.1ts) IZ023: £96.IfA>ltothe Scottish I9 Ful #thebalanceshert datr. lond Volunther Enterpri5e5timited was rknlinto¥(1unryluTr1daw on 34Xh June 2021 SH L¢d was Iwrned to mana8e the 2022. The Ch•ritycharyed ren¢ of£30AKXI to London SH Ltd the yéar. fvi the parend. the Charrtytyd £20,485toiorKloD SM Ltd12923: £5W7 wasduefrom London SH Ltd). 16-