## The Scarr-Hall Memorial Trust 

## REPORT AND FINANCIAL STATEMENTS 

for the year ended 31 March 2025 

UNAUDITED 

Registered charity number: 328105 



|The Scarr-Hall Memorial Trust|UNAUDITED|
|---|---|
|CONTENTS||
|LEGAL AND ADMINISTRATIVE INFORMATION|1|
|REPORT OF THE TRUSTEES|2 - 4|
|INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF||
|THE SCARR-HALL MEMORIAL TRUST|5|
|STATEMENT OF FINANCIAL ACTIVITIES|6|
|BALANCE SHEET|7|
|NOTES TO THE FINANCIAL STATEMENTS|8 - 13|





The Scarr-Hall Memorial Trust 

UNAUDITED 

LEGAL AND ADMINISTRATIVE INFORMATION 

|TRUSTEES|I Scarr-Hall|
|---|---|
||R Scarr-Hall (deceased 13 November 2025)|
||Rev MM Hall|
||RA Scarr-Hall|
|REGISTERED ADDRESS|Amhuinnsuidhe Castle|
||Amhuinnsuidhe|
||Harris|
||HS3 3AS|
|CHARITY NUMBER|328105|
|INDEPENDENT EXAMINER|RSM UKTax and Accounting Limited|
||Chartered Accountants|
||Davidson House|
||Forbury Square|
||Reading|
||RG1 3EU|
|BANKERS|Barclays Bank plc|
||36 Town Road|
||Hanley|
||Stoke-on-Trent|
||Staffordshire|
||ST1 2JQ|
|SOLICITORS|Freeths LLP|
||6thFloor|
||100 Barbirolli Square|
||Manchester|
||M2 3BD|
|INVESTMENT BROKERS|Charles Stanley and Co Limited|
||Ropemaker Place|
||25 Ropemaker Street|
||London|
||EC2Y 9LY|
|GOVERNING INSTRUMENT|Trust Deed dated 5 December 1988|



_Page_ 1 



The Scarr-Hall Memorial Trust REPORT OF THE TRUSTEES 

UNAUDITED 

The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and 9, the charity’s Trust Deed, 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 (FRS 102) (issued October 2019), (Charities SORP (FRS102)) and the Charities Act 2011. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## _Governing Document_ 

The Trust is an unincorporated entity, constituted under a Trust Deed dated 5 December 1988 and is a registered charity, number 328105. 

## _Recruitment and Appointment of Trustees_ 

The Trust is maintained by the Trustees who number not less than three and no more than five. New Trustees are appointed by a resolution of the existing Trustees which must be recorded in the minutes. 

The names of the present Trustees are set out on page 1. 

## _Trustee Induction and Training_ 

New Trustees are supplied with the Charity Commission publication, ‘The Essential Trustee: What You Need to Know’, along with the Memorandum and Articles and the latest financial statements. 

## RISK MANAGEMENT 

The Trustees have considered in detail the risks facing the Charity, the controls in place to mitigate those risks and action plans to deal with those areas where controls could be enhanced, particularly concerning grant giving. The Trustees believe that they have appropriate controls in place, commensurate with the size of the organisation and their cost effectiveness, to mitigate the risks identified. The Trustees review and update the assessment of the risks facing the Charity annually, together with an assessment of the controls on a regular basis. 

## OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT 

The principal activities of the Trust are: 

- To provide grants and make donations or otherwise to assist in the education and training of students; 

- To carry out other charitable purposes which are exclusively charitable according to the laws of England and Wales. 

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year. 

## ACHIEVEMENTS AND PERFORMANCE 

The Trustees consider that the grants given during the year were in accordance with the grant giving policy to provide grants and make donations to assist in the education and training of students from the receipt of applications. 

_Page_ 2 



The Scarr-Hall Memorial Trust REPORT OF THE TRUSTEES 

UNAUDITED 

## FINANCIAL REVIEW 

The Trustees consider the financial situation of the Trust to be satisfactory. 

- (a) _Income_ 

The Trust is reliant on the income from its investments, the income from which was £45,757 (2024: £44,281). The Trust had net income in the year of £8,923 (2024: £12,185). After realised and unrealised losses in investments of £82,876 (2024: £68,017 gain), the total movement in funds for the year was a decrease of £73,953 (2024: £80,202 increase). This has decreased unrestricted funds in the year and total unrestricted funds at the year end were £1,414,410 (2024: £1,488,363). The Trust did not hold any restricted funds. 

- (b) _Grants_ 

Grants of £11,000 (2024: £7,000) were made during the year (see note 4). 

- (c) _Investments_ 

Details of movements in investments are set out in note 9. The fair value at 31 March 2025 is £1,399,132 (2024: £1,479,965). 

## INVESTMENT POLICY AND PERFORMANCE 

Trust monies may be invested in whatever way the Trustees, in their absolute discretion, think fit. It is the current policy of the Trust to use the services of a recognised and reputable investment manager to oversee the Trust’s investments. The Trust currently uses the services of Charles Stanley to oversee its portfolio management. 

## RESERVES POLICY 

It is the policy of the charity to maintain sufficient free reserves to generate sufficient investment income to fund their annual grants programme, and to cover the annual management and administration costs. Unrestricted funds were maintained at this level throughout the year. 

## PLANS FOR THE FUTURE 

The Trust will continue to undertake its charitable objectives to provide grants to individuals for the furtherance of educational advancement. 

## TRUSTEES’ RESPONSIBILITIES 

The Trustees are responsible for preparing the Trustees’ Report and the 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 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 year. 

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; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

_Page_ 3 



UNAUDITED 

. . 

: 

## The Scarr-Hall Memorial Trust REPORT OF THE TRUSTEES 

## TRUSTEES’ RESPONSIBILITIES (Continued) 

The trustees are responsible for keeping sufficient accounting records that 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, 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. 

The Trustees’ report was approved by the Board of Trustees and signed on its behalf by: 

RA Scarr-Hall Trustee 

2 Falornany 202K 

Page 4 



UNAUDITED 

## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE SCARR-HALL MEMORIAL TRUST** 

I report to the trustees on my examination of the accounts of The Scarr-Hall Memorial Trust (‘the charity’) for the year ended 31 March 2025, which are set out on pages 6 to 13. 

## **Responsibilities and basis of report** 

As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). 

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act. 

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement. 

## **Independent examiner’s statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect: 

1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the 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 an 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 to enable a proper understanding of the accounts to be reached. 

Signed: Kerry Gallagher 

Name: **Kerry Gallagher FCA DchA** 

Name of applicable listed body: **The Institute of Chartered Accountants in England and Wales** Relevant professional qualification or membership of professional body: **Chartered Accountant** 

**ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED** Chartered Accountants Davidson House Forbury Square Reading RG1 3EU 

02/02/26 

_Page_ 5 



The Scarr-Hall Memorial Trust STATEMENT OF FINANCIAL ACTIVITIES 

UNAUDITED 

for the year ended 31 March 2025 

|||Unrestricted Funds|Unrestricted Funds|
|---|---|---|---|
|||**2025**|2024|
||Note|**£**|£|
|INCOME AND ENDOWMENTS||||
|Investment income|3|**45,757**|44,281|
|TOTAL INCOME||**45,757**|44,281|
|EXPENDITURE||||
|Charitable activities|4|**19,628**|15,504|
|Costs of raising funds|6|**17,206**|16,592|
|TOTAL EXPENDITURE||**36,834**|32,096|
|NET INCOME BEFORE GAINS/(LOSSES) ON||||
|INVESTMENTS||**8,923**|12,185|
|Realised/unrealised (losses)/gains on investments|9|**(82,876)**|68,017|
|NET (EXPENDITURE)/INCOME AND||||
|MOVEMENT IN FUNDS||**(73,953)**|80,202|
|Total funds brought forward||**1,488,363**|1,408,161|
|TOTAL FUNDS CARRIED FORWARD||**1,414,410**|1,488,363|



_Page_ 6 



## The Scarr-Hall Memorial Trust BALANCE SHEET 

## UNAUDITED 

at 31 March 2025 

||Note|Unrestrictedfunds|funds|
|---|---|---|---|
|||2025|2024|
|||£|£|
|FIXEDASSETS||||
|Investments|9|1,399,132|1,479,965|
|CURRENTASSETS||||
|Cash atbank|10|26,930|19,672|
|CURRENTLIABILITIES||||
|Creditors: Amounts fallingdue within oneyear|11|(11,652)|(11,274)|
|NET CURRENTASSETS||15,278|8,398|
|NETASSETS||1,414,410|1,488,363|
|THEFUNDS OF THECHARITY||||
|Unrestrictedfunds|12|1,414,410|1,488,363|



= 

These financial statements on pages 6 to 13 were approved by the board of trustees and authorised. for issue on 2Faonnary2026 and were signed on its behalf by: 


**----- Start of picture text -----**<br>
2 ’<br>Ne<br>L&o bod)<br>RA Scarr-Hall<br>Trustee<br>**----- End of picture text -----**<br>


Registered charity number: 328105 

Page 7 



The Scarr-Hall Memorial Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2025 

UNAUDITED 

## 1 ACCOUNTING POLICIES 

## CHARITY INFORMATION 

The Scarr-Hall Memorial Trust was created by a Trust Deed dated 5 December 1988 and is registered as a charity under the Charities Act 2011, Registration Number 328105. The registered office is Amhuinnsuidhe Castle, Amhuinnsuidhe, Harris, HS3 3AS. Under the terms of the deed the trustees are directed to hold the Trust Fund and the income thereof for such charitable purposes as the trustees in their absolute discretion think fit. 

## BASIS OF PREPARATION 

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. 

The financial statements have been prepared in accordance with the Statement of Recommended Practice; Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. 

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

The trust constitutes a public benefit entity as defined by FRS 102. 

## GOING CONCERN 

The Trustees believe there are adequate resources which will enable the Trust to meet its liabilities for the foreseeable future.  For this reason, the Trustees have adopted the going concern basis in preparing the financial statements. 

## INCOME RECOGNITION 

All income, which is mainly dividend income, is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably. 

## EXPENDITURE RECOGNITION 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. 

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. 

_Page_ 8 



The Scarr-Hall Memorial Trust NOTES TO THE FINANCIAL STATEMENTS 

UNAUDITED 

for the year ended 31 March 2025 

## 1 ACCOUNTING POLICIES (continued) 

## FIXED ASSET INVESTMENTS 

Investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. 

The Trust does not acquire or use put options, derivatives or other complex financial instruments. 

## REALISED AND UNREALISED GAINS AND LOSSES 

All gains and losses are taken to the statement of financial activities as they arise. Unrealised gains are calculated as the difference between the fair value at the year end and their carrying value. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. 

## TAXATION 

As a registered charity the Trust is generally exempt from liability to taxation and no provision for taxation is therefore required. 

## FUND ACCOUNTING 

The unrestricted fund comprises those funds which the Trustees are free to use in accordance with the charitable objectives. 

## FINANCIAL INSTRUMENTS 

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, with the exception of fixed asset investments, are initially recognised at transaction value and subsequently measured at their settlement value. 

## 2 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 on-going 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. 

No critical accounting estimates and judgments have been made in preparing these financial statements. 

_Page_ 9 



The Scarr-Hall Memorial Trust NOTES TO THE FINANCIAL STATEMENTS 

UNAUDITED 

for the year ended 31 March 2025 

|3<br>INVESTMENT INCOME<br>Charles Stanley portfolio:<br>Deposit interest<br>Dividends<br>Property income distributions<br>Bank interest received<br>4<br>CHARITABLE ACTIVITIES<br>Direct charitable expenditure:<br>Grants to individuals – 11 (2024: 7)<br>Grants to institutions – 0 (2024: 0)<br>Support costs:<br>Contribution to grant presentation ceremony<br>Governance costs – note 5|**2025**<br>**£**<br>**329**<br>**43,310**<br>**2,040**<br>**78**<br>**45,757**<br>**2025**<br>**£**<br>**11,000**<br>**-**<br>**11,000**<br>**750**<br>**7,878**<br>**19,628**|2024<br>£<br>17<br>42,343<br>1,852<br>69|
|---|---|---|
|||44,281<br>2024<br>£<br>7,000<br>-<br>7,000<br>500<br>8,004<br>15,504|



All the above grants/donations to individuals were made to assist in education and training, and were payable in furtherance of the charity’s objects for the public benefit. All costs are unrestricted. 

|5<br>GOVERNANCE COSTS<br>Accountancy fees<br>Independent examination|**2025**<br>2024<br>**£**<br>£<br>**4,098**<br>4,104<br>**3,780**<br>3,900<br>**7,878**<br>8,004|
|---|---|



_Page_ 10 



The Scarr-Hall Memorial Trust NOTES TO THE FINANCIAL STATEMENTS 

UNAUDITED 

for the year ended 31 March 2025 

## 6 COSTS OF RAISING FUNDS 

|Bank charges<br>Travel and subsistence<br>Investment broker fees|**2025**<br>2024<br>**£**<br>£<br>**540**<br>517<br>**-**<br>197<br>**16,666**<br>15,878<br>**17,206**<br>16,592|
|---|---|



## 7 STAFF COSTS 

No staff were employed by the trust during the year (2024: nil). 

## 8 PAYMENTS TO TRUSTEES 

No remuneration was paid and expenses totalling £nil (2024: £197) were reimbursed to the Trustees during the year. 

## 9 FIXED ASSET INVESTMENTS 

|FIXED ASSET INVESTMENTS|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|_Movement in fixed asset investments_|||
|Fair value brought forward at 1 April 2024|**1,479,965**|1,402,335|
|Additions to investments at cost|**111,153**|60,077|
|Disposal proceeds|**(109,110)**|<br>(50,464)|
|Net (losses)/gains on investments|**(82,876)**|<br>68,017|
|Fair value as at 31 March 2025|**1,399,132**|1,479,965|
||**Market**|Market value|
||**Value 31**|31 March|
||**March 2025**|2024|
||**£**|£|
|_Listed investments:_|||
|Equity investments|**1,373,471**|1,453,969|
|Property investments|**25,661**|25,996<br>|
||**1,399,132**|1,479,965|



_Page_ 11 



The Scarr-Hall Memorial Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2025 

UNAUDITED 

|10<br>CASH AT BANK AND IN HAND<br>Barclays Bank plc<br>SIT Savings account<br>Charles Stanley account<br>11<br>CREDITORS: Amounts falling due within one year<br>Accruals<br>Loan<br>12<br>MOVEMENT IN FUNDS<br>Brought forward<br>Income<br>Expenditure<br>Gains/(Losses)<br>Carried forward|**2025**<br>2024<br>**£**<br>£<br>**9,001**<br>4,174<br>**(8)**<br>(8)<br>**17,937**<br>15,506<br> <br>**26,930**<br>19,672<br> <br>**2025**<br>2024<br>**£**<br>£<br>**7,878**<br>7,500<br>**3,774**<br>3,774<br> <br>**11,652**<br>11,274<br> <br>Unrestricted Funds<br>General Fund<br>**2025**<br>**£**<br>2024<br>£<br>**1,488,363**<br>1,408,161<br>**45,757**<br>44,281<br>**(36,834)**<br>(32,096)<br>**(82,876)**<br>68,017<br>**1,414,410**<br>1,488,363|
|---|---|



_Page_ 12 



The Scarr-Hall Memorial Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2025 

UNAUDITED 

## 13 ANALYSIS OF NET ASSETS BETWEEN FUNDS 

|ANALYSIS OF NET ASSETS BETWEEN FUNDS||
|---|---|
||Unrestricted|
||Funds|
||General Fund|
||£|
||Total 2025|
|Fund balances at 31 March 2025 are represented by:||
|Fixed assets|1,399,132|
|Current assets|26,930|
|Creditors: Amounts falling due within one year|(11,652)|
||1,414,410|
||Total 2024|
|Fund balances at 31 March 2024 are represented by:||
|Fixed assets|1,479,965|
|Current assets|19,672|
|Creditors: Amounts falling due within one year|(11,274)|
||1,488,363|



## 14 RELATED PARTY TRANSACTIONS 

In a prior year, one of the trustees, loaned funds into the Trust. No interest is charged on the loan. At the year end the amount owed to the trustee was £3,774 (2024: £3,774). 

_Page_ 13