**AIRD CHARITABLE TRUST** (Charity Registration Number: 296304) **ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Index**
## **Page**
|1-4|Trustees' Annual Report|
|---|---|
|5|Independent Examination Report|
|6|Statement Of Financial Activities|
|7|Balance Sheet|
|8-16|Notes to the Accounts|
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Trustees' Annual Report**
The Trustees have pleasure in submitting their Annual Report and Financial Statements for the Aird Charitable Trust in respect of the year ended 31st December 2023.
## **Objectives and activities**
The Settlement was created by Lady Priscilla Aird by Deed dated 20th September 1984. The Charity's objects for the public benefit, in accordance with its governing document, are to apply the income and, as far as may be necessary, the capital of the Trust Fund towards exclusively charitable purposes at such times and in such manner as the Trustees in their discretion think fit.
The Trustees make donations from Unrestricted Funds to meet with their objectives, usually in the form of of one-off grants. The Trustees do not carry out fundraising activities.
Currently, the Trustees aim to donate net income received each financial year and have resolved to give preference to:
- Charities whose work is considered useful by the current Trustees.
- Charities who make effective use of the donations they receive.
- Charities in which the settlor was interested.
The Trustees have complied with the duty in S17 Charities Act 2011 and have given due consideration to the Charity Commission's published guidance on the Public Benefit requirement when exercising powers and duties to which the guidance is relevant.
## **Achievements and Performance**
The Trustees met during the year to review applications for funding and agree donations to be made. A full list of donations is included in Note 8 to the accounts.
The Trustees adopt a policy of investing for Growth rather than Income, in view of the current market conditions, and have seen a good increase in the capital value of the Trust's investments. As a result they are comfortable distributing a portion of capital gain as well as the income generated during a financial year as they see fit.
The Scholarships endowed by the Trust at Eton and Christ Church Oxford continue to achieve the Trust’s objectives of promoting the study of Science and Engineering. The Trustees give preference to supporting boys who are not of a privileged background, enabling them to study at these educational establishments.
Page 1
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Trustees' Annual Report**
## **Financial Review**
During the year a donation of £30,000 (£30,000 in 2022) was received and credited to Unrestricted Income, along with Gift Aid receivable to date. Income from investments and interest totalled £50,501 (£37,206 in 2022). The only costs incurred to raise the funds were investment management fees of £17,941 (£19,139 in 2022). Donations pledged and paid during the year totalled £68,713 (£65,770 in 2022) and a total of £4,490 (£4,820 in 2022) was also spent on the charity's activities, including governance costs. The Trustees are pleased to note that a majority of net income received during the year was donated.
The SOFA includes the net gains and losses arising on revaluations and disposals of investments assets during the year. Net gains realised during the year ended 31st December 2023 totalled £122,864 (losses of £476,530 in 2022).
The charity's funds increased by £127,221 during the year (decrease of £491,553 in 2022), resulting in total funds of £2,644,677 being held as at the financial year-end, of which £66,593 was Unrestricted Income and £2,578,084 was Expendable Endowment (£2,517,456 held as at 31st December 2022 of which £44,295 was Unrestricted Income and £2,473,161 Expendable Endowment).
## Reserves:
The Trustees aim to distribute a large percentage of income, net of expenses, in each financial year and therefore do not maintain a specific level of income reserves but the level of Unrestricted Funds is regularly reviewed by the Trustees at their meetings to ensure they have sufficient funds available to meet with their current objectives. At the Balance Sheet date, the Charity did not have any long term commitments and so the Trustees consider all funds held to be free Reserves available at their discretion and when they see fit. The Trustees will keep the position under review and update the Reserves Policy accordingly.
## Investments:
The value of the Trust's investments held as at 31st December 2023 totalled £2,552,440 an increase from £2,453,101 as at 31st December 2022.
The Trustees are satisfied with the investment performance, which has been reviewed in accordance with the Policy Statement. The Trustees do not propose to make any changes to the policies at this time and will continue to review the position.
Uninvested cash is held in client accounts at Rathbones at a sufficient level.
## **Structure, Governance and Management**
This Charitable Trust was created by Deed dated 20th September 1984 and is governed by the board of
Trustees.
The Trustees meet at least annually to review performance, grant applications and any other matters arising. Trustees are expected to attend meetings and play an active role in the administration of the Trust, including researching possible donees and visiting charities and events where applicable. The Trustees ensure that they are operating within current guide lines by discussing then current issues as advised by the Charity Commission and Rathbones Trust Company, along with their own reading.
Page 2
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Trustees' Annual Report**
The power of appointing new Trustees is vested in the then current Trustees. Trustees are selected according to their connection with the current Trustees and their skills, experience and understanding of the obligations imposed on such an appointment.
The Trust's capital is mainly invested on stock markets. The Trustees have unrestricted powers of investment under the governing deed and have resolved to delegate the day-to-day management of the Trust's Funds to Rathbones Investment Management.
The Charity Trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks (Charities Accounts and Reports Regulations 2008). After considering the areas of governance, operational, financial, environmental and compliance, the Trustees have identified that major negative fluctuations in the value of the charity's investment assets pose a major risk to the Charity's funds. In order to mitigate this risk and in accordance with s15 Trustee Act 2000 the Trustees have established a Policy Statement to be adhered to by the Investment Manager, which is reviewed at least once a year in line with investment performance.
## **Reference and administration details**
|Registered No:|296304|
|---|---|
|Principal address:|Rathbones Trust Co Ltd, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW|
|Trustees:|Sir John Aird (died 4 May 2023)|
|- served during the year:|Ms Susan Aird|
||Lady Xiaofen Aird|
|Accountancy:|Rathbones Trust Co Ltd, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW|
|Independent Examiner:|Kerry Roberts, C/o Port of Liverpool Building, Pier Head, Liverpool, L3 1NW|
|Bankers:|Lloyds Bank, 39 Piccadilly, London, W1V 0AA|
|Investment Managers:|Rathbones Investment Management Ltd, 30 Gresham Street, London|
||Hargreaves Lansdown, 1 College Square South, Anchor Road, Bristol|
## **Plans for the future**
The Trustees remain satisfied that the current policy to donate the majority of net income received each year is sufficient to meet with the charity's current objectives, however, they will keep the funds under regular review.
Page 3
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Trustees' Annual Report**
## **Trustees' Responsibilities**
The Trustees are responsible for preparing the Trustees' Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees 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 its incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting polices and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 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.
## **Declaration**
The Trustees declare that they have approved the Trustees' report above.
## **As agreed and signed on behalf of the Board of Trustees on _____________________________**
Lady Xiaofen Aird
Page 4
## **AIRD CHARITABLE TRUST**
## **ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **INDEPENDENT EXAMINER'S REPORT**
## **Independent examiner's report to the Trustees of the Aird Charity Trust (296304)**
I report to the Trustees on my examination of the accounts of the above charity the Aird Charitable Trust for the year ended 31st December 2023, which are set out on pages 7 to 16.
## **Responsibilities of the Trustees and Independent Examiner**
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). You consider that an audit is not required under s144 of the Act and that an independent examination is needed.
I report in respect of my examination of the charity's accounts carried out under section 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)(b) of the Act. It is my responsibility to state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair' view. The report is limited to those matters set out in the statement below.
## **Independent Examiner's statement**
I am a member of an approved body subject to the provisions of the Revised Ethical Standard 2019 issued by the Financial Reporting Council (FRC). Rathbones Trust Company has provided bookkeeping services in accordance with the terms of engagement signed by the Trustees and I do not report to the bookkeeper in any respect. I give due consideration to the FRC's Revised Ethical Standard 2019 at all times.
I have completed my examination and confirm that no matters have come to my attention which give me cause to believe that in any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act, or
- the accounts did not accord with the accounting records, or
- the accounts did not comply with applicable requirements concerning 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 independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order for a proper understanding of the accounts to be reached.
_**Kerry Roberts (nee Clayton) TEP FMAAT MCSI C/o Port of Liverpool Building, Pier Head, Liverpool**_
_**Date**_
Page 5
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Statement of Financial Activities**
**----- Start of picture text -----**
Expendable Unrestricted Total Total
Endowment Income Funds Funds
2023 2023 2023 2022
Notes £ £ £ £
Income and endowments from:
Donations 4 0 45,000 45,000 37,500
Investments 5 0 49,559 49,559 37,105
Other Income 6 0 942 942 101
Total Income 0 95,501 95,501 74,706
Expenditure on:
Raising funds 7 17,941 0 17,941 19,139
Charitable activities 8 0 73,203 73,203 70,590
Total Expenditure 17,941 73,203 91,144 89,729
Net gains/(losses) on investments 14 122,864 0 122,864 (476,530)
Net movement in funds 104,923 22,298 127,221 (491,553)
Reconciliation of funds:
Total funds as at 1st January 2023 2,473,161 44,295 2,517,456 3,009,009
Net movement in funds 19 104,923 22,298 127,221 (491,553)
Total funds as at 31 December 2023 2,578,084 66,593 2,644,677 2,517,456
**----- End of picture text -----**
Page 6
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Balance Sheet**
|_Notes_
**Fixed Assets**
Investments
_14_
**Total Fixed Assets**
**Current Assets**
Debtors
_15_
Cash at bank and in hand
_16_
**Total Current Assets**
**Liabilities:**
Creditors:
Amounts falling due within one year
_17_
**Net Current Assets**
**Total Net Assets as at 31st December 2023**
**Represented by:**
Funds of the Charity
_19_
**Total Funds as at 31st December 2023**|**Expendable**
**Unrestricted**
**Total**
**_Total_**
**Endowment**
**Income**
**Funds**
**_Funds_**
**2023**
**2023**
**2023**
**_2022_**
**£**
**£**
**£**
**_£_**
2,552,440
0
2,552,440
_2,453,101_
2,552,440
0
2,552,440
_2,453,101_
0
9,917
9,917
_12,051_
25,644
62,887
88,530
_61,844_
**25,644**
**72,803**
**98,447**
**_73,895_**
0
6,210
6,210
_9,540_
25,644
66,593
92,237
_64,355_
**2,578,084**
**66,593**
**2,644,677**
**_2,517,456_**
2,578,084
66,593
2,644,677
_2,517,456_
**2,578,084**
**66,593**
**2,644,677**
**_2,517,456_**|
|---|---|
**As agreed and signed on behalf of the Board of Trustees on _________________________________**
Lady Xiaofen Aird
Page 7
**Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
## **1 Charity Information**
- The Aird Charitable Trust is governed by a Settlement Deed dated 20 September 1984 and registered in England and Wales. The principal address is c/o Rathbone Trust Company Limited, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW.
## **2 Accounting Policies**
These financial statements have been prepared in accordance with Accounting 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 Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.
The charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
## **Going Concern**
The Trustees have assessed whether the use of Going Concern is appropriate and have concluded that the charity has adequate resources and reserves to enable it to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern and thus the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the financial statements.
## **Charitable Funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the charity's objectives unless the funds have been designated for other purposes.
Expendable Endowment capital funds are available to be applied at the discretion of the trustees in furtherance of the charity's objects. Expendable Endowment is held primarily for income generation and increases or decreases in line with the investment valuation. Transfers from the Endowment Fund to Unrestricted Fund are made at the trustees' discretion.
## **Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income Tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 8
**Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
All dividend income is recorded net and includes tax deducted only when it is repayable to the Charity.
## **Expenditure**
Expenditure is recognised when paid or when there is a legal or constructive obligation for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount can be reliably measured as at the reporting date. A constructive obligation exists where the charity has communicated the commitment to provide particular goods, services or funding to the recipient by the reporting date and there are no conditions attached to its payment falling due after the reporting date.
Provisions for liabilities must be recognised when either the timing or the amount of future expenditure required to settle the obligation is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources in no longer required, provisions are reversed and charged to the SoFA.
## **Governance costs**
Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
## **Investments**
Investments held in the fund are included at their market value as follows:
- (a) Listed securities are valued at the mid market value ruling at the balance sheet date.
- (b) Listed securities held in foreign currencies have been valued at the mid market value and translated into their sterling equivalents at the rates ruling at the balance sheet date.
- (c) Gilts are valued at the mid market value ruling at the Balance Sheet date and include interest that has accrued up to that date.
Investments are classified as a fixed asset except when classified as a current asset where the intention of the Trustees is to dispose of the asset and not reinvest the proceeds.
## **Other recognised Gains and Losses**
Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost and are charged or credited to the Statement Of Financial Activities in the year of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities resulting from revaluing investments to market value at the Balance Sheet date.
## **Taxation**
The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates.
Page 9
**Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
## **Cash and cash equivalents**
Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts.
## **Financial Instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **Cancellation of financial liabilities**
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Page 10
**Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
## **3 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
|**4 Income from Donations**
Mr & Mrs Burrows
Gift Aid
**5 Investment income**
Equities
Unit Trust Income
Other Income
Fixed Interest
Foreign Income
Non Reclaimable Tax deducted at source
**6 Other Income**
Bank Interest
Interest
**7 Raising Funds**
Investment management costs|**2023**
**£**
30,000
15,000
45,000
**2023**
**£**
25,726
6,423
2,100
3,396
13,874
(1,961)
49,559
**2023**
**£**
815
127
942
**2023**
**£**
17,941
17,941|**_2022_**
**_£_**
_30,000_
_7,500_
_37,500_
**_2022_**
**_£_**
_12,697_
_12,914_
_2,100_
_1,053_
_8,905_
_(564)_
_37,105_
**_2022_**
**_£_**
_101_
_0_
_101_
**_2022_**
**_£_**
_19,139_
_19,139_|
|---|---|---|
Page 11
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
|**8 Charitable Activities**
**_Grant making:_**
**Donations to Institutions:**
Alias Ashmole Trust
BLESMA
Branch Trust
British Heart Foundation
Camphill Blair Drummond
Cancer Research UK
Central London Samaritans
Cheltenham Festival
Chipping Camden Community Trust
Chipping Norton Theatre
Christ Church Scholarship
Compton Verney House Trust
Contented Dementia Trust
Cotswold School Academy Trust
Drapers Charitable Fund
Edenham Regional House
Elias Ashmole Trust
Eton Bursaries
Eton Stone
Evenlode PCC
Frank Haines Memorial Fund
Galapagos Conservation Fund
Guiting Music Festival
Homaze House
Hunt Servants Fund
Kate's Home Nursing
Loughborough Festival
Longborough Opera
Macmillan
Moreton in Marsh
National Theatre
Oxford Philharmonic Orchestra
Princess Risborough Primary School
Prostate Cancer Research
Ridlay Foundation
Royal British Legion - Poppy Appeal
Samaritans
ShelterBox
St Andrew's School
St Gregory's Foundation
St Mungo's
Theatre Fund
The Big Give Disaster Emergency
TREVI
Balance carried forward|**2023**
**£**
2,000
0
1,000
0
0
75
1,000
0
0
0
20,000
250
200
0
150
0
0
30,000
0
600
0
25
258
0
25
0
865
0
0
0
0
2,000
5,000
0
1,000
150
0
2,000
0
0
500
40
1,075
0
68,213|**_2022_**
**_£_**
_0_
_500_
_0_
_105_
_1,000_
_75_
_0_
_900_
_500_
_1,000_
_0_
_200_
_0_
_10,000_
_350_
_3,000_
_2,000_
_30,000_
_25_
_600_
_500_
_25_
_0_
_500_
_525_
_5,000_
_0_
_900_
_200_
_100_
_1,000_
_0_
_0_
_1,000_
_0_
_150_
_1,000_
_0_
_600_
_200_
_500_
_40_
_1,075_
_500_|
|---|---|---|
|||_64,070_|
Page 12
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
|**8 Charitable activities - continued**
Balance brought forward
UNHCR
Voluntary Services Overseas
ZANE
Total donations made during the year
Unpresented donations
Support costs
Governance costs (note 9)
Total Charitable Activities
*Amounts paid from the Trust to related parties, as disclosed
**9 Governance costs**
Accountancy fee
Independent Examination fee
Independent Examination fee - prior year under provision
Taxation fee|**2023**
**£**
68,213
0
500
0
68,713
(1,000)
720
4,770
73,203
in note 13.
**2023**
**£**
3,330
840
120
480
4,770|**_2022_**
**_£_**
_64,070_
_200_
_500_
_1,000_
_65,770_
_(1,000)_
_1,440_
_4,380_
_70,590_
**_2022_**
**_£_**
_3,240_
_660_
_0_
_480_
_4,380_|
|---|---|---|
## **10 Trustee remuneration and benefits**
None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity during the year ended 31st December 2023 or 31st December 2022.
## **11 Trustee expenses**
No trustee expenses have been incurred during the year ended 31st December 2023 or 31st December 2022.
## **12 Employees and benefits**
The charity had no employees during the year ended 31st December 2023 or during the year ended 31st December 2022.
Page 13
**Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
## **13 Related Party Transactions and conflicts of interest**
Other charitable organisations of which the Trustees of this charity have an interest in are always properly declared and acknowledged during determination of applications. If such a situation arises, the Trustee with the related party interest does not participate in the decision other than to clarify facts.
Amounts paid from the Trust to any such charitable organisations are disclosed in note 8.*
There were no conflicts of interest or transactions with related parties requiring disclosure in respect of the financial year ended 31st December 2023 or to 31st December 2022.
## **14 Fixed Asset Investments**
|_Value at_
_Purchases_
_Sales_
_01/01/23_
_at cost_
_proceeds_
_£_
_£_
_£_
_Listed securities:_
Overseas
_1,292,501_
117,651 (282,116)
UK Investment Companies
_960,261_
125,516 (136,997)
Actively Managed Strategies
_127,769_
21,989
(52,020)
Commodities
_47,444_
0
0
UK Gov. and Inv. Bonds
_25,126_
182,452
0
_2,453,101_
447,608
471,133
**15 Current assets**
_Debtors_
Gift Aid reclaimable
Investment Income
**16 Cash at Bank and in Hand**
Cash at Bank
**17 Creditors: amounts falling due within one year:**
Rathbone Trust Company Limited - prior year
Rathbone Trust Company Limited|_Realised_
_Unrealised_
_Gains/ (Losses)_
_Gains /(Losses)_
_£_
_£_
1,857
146,322
(11,094)
(13,052)
(29,862)
14,902
0
5,574
0
8,217
(39,098)
161,962
**2023**
**£**
7,500
2,417
9,917
**2023**
**£**
88,530
88,530
**2023**
**£**
840
5,370
6,210|_Value at_
_31/12/23_
_£_
1,276,215
924,634
82,778
53,018
215,795
2,552,440
**_2022_**
**_£_**
_10,000_
_2,051_
_12,051_
**_2022_**
**_£_**
_61,844_
_61,844_
**_2022_**
**_£_**
_4,380_
_5,160_
_9,540_|
|---|---|---|
Page 14
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
|**18 Financial Instruments**
**Carrying amount of financial assets**
Debt instruments receivable within one year
- Debtor
- Cash
**Carrying amount of financial liabilities**
Payable within one year
- Creditors
**Instruments measured at fair value through SOFA**
Investments at value
**19 Movements between funds**
**Balance at**
**01/01/23**
**Income**
**£**
**£**
**Expendable Endowments**
Investments
_2,473,161_
0
**Unrestricted funds:**
General funds
_44,295_
95,501
Total funds
_2,517,456_
95,501|**2023**
**£**
2,417
88,530
90,947
6,210
2,552,440
**Gains /**
**Expenditure**
**(Losses)**
**£**
**£**
(17,941)
122,864
(73,203)
0
(91,144)
122,864|**_2022_**
**_£_**
_2,051_
_61,844_
_63,895_
_9,540_
_2,453,101_
**Balance at**
**31/12/23**
**£**
2,578,084
66,593
2,644,677|
|---|---|---|
Page 15
## **Aird Charitable Trust**
## **Accounts for the year ended 31 December 2023**
## **Notes to the Accounts**
|**20 Statement of Financial Activities**
**Income and endowments from:**
Donations
Investments
**Total Income**
**Expenditure on:**
Raising funds
Charitable activities
**Total Expenditure**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds as at 1st January 2022
Net movement in funds
**Total funds as at 31 December 2022**|**Expendable**
**Unrestricted**
**Total**
**Endowment**
**Income**
**Funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
0
37,500
37,500
0
37,206
37,206
**0**
**74,706**
**74,706**
19,139
0
19,139
0
70,590
70,590
**19,139**
**70,590**
**89,729**
(476,530)
0
(476,530)
**(495,669)**
**4,116**
**(491,553)**
2,968,830
40,179
3,009,009
(495,669)
4,116
(491,553)
**2,473,161**
**44,295**
**2,517,456**|
|---|---|
Page 16