REGISTERED CHARITY NUMBER: 802962
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5th April 2025
for
The Scotbelge Charitable Trust
Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI1 3SJ
The Scotbelge Charitable Trust
Contents of the Financial Statements for the Year Ended 5th April 2025
| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| DetailedStatementofFinancialActivities | 10 |
The Scotbelge Charitable Trust
Report of the Trustees for the Year Ended 5th April 2025
The trustees present their report with the financial statements of the charity for the year ended Sth April 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019),
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees shall pay or apply the income and such part of the capital as they think fit to or for such charitable purposes and in such shares and manner in every respect as the trustees shall in their absolute discretion from time to time think fit.
Significant activities
The principal activities of the trust are to hold investments and make charitable donations out of income.
Grant applications are reviewed by the trustees on a regular basis and upon approval the appropriate payment is made.
Details of the charity's income and expenditure in the period are given in the statement of financial activities on page 4. The charity's financial position at Sth April 2024 is set out in the balance sheet on page 5. The charity's funds are wholly unrestricted.
Public benefit
The charity aims to make grants to local institutions and consider them on a case by case basis.
Grantmaking
The grants awarded are listed in note 4 of the financial statements.
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to hold reserves which have not yet been committed or designated for any particular purpose. The trustees have set aside these reserves in order to protect the future operations of the charity from the effects of any unforeseen variations in its income streams as part of a policy of good financial management practice, The trustees have set the level of these reserves after undertaking a thorough assessment of the charity's needs. At Sth April 2024 the amount of these reserves amounted to £1,230,520 (2023 - £1,766,356).
Going concern
The trustees are satisfied that there are no material uncertainties facing the charity and that it is a going concern.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Recruitment and appointment of new trustees Were there a requirement for new trustees, these would be identified and appointed by the principal trustee in consultation with the other trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees feel that the major risk the charity faces is the reduction of investment income. If this were to happen, some capital would be sold and cashed in to meet any liabilities.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 802962
Principal address
HSBC Private Bank (UK) Ltd 8 Cork Street London W1S 3LJ
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The Scotbelge Charitable Trust
Report of the Trustees for the Year Ended 5th April 2025
Trustees E P K Weatherall BJK Weatherall GM McGill
Independent Examiner Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI 3SJ
Investment Advisers HSBC Private Bank (UK) Ltd
Bankers HSBC Private Bank (UK) Ltd
Approved by order ofthe board of[trustees][on][9th][October][2025][and][signed][on][its][behalf][ by:]
UyUL WY—— GM McGill - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Scotbelge Charitable Trust
Independent examiner's report to the trustees of The Scotbelge Charitable Trust I report to the charity trustees on my examination of the accounts of The Scotbelge Charitable Trust (the Trust) for the year ended Sth April 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’),
I report in respect of my examination ofthe Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
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 cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
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.
Mr Rodney Palmer B.A., C.A.
Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI 3S]
9th October 2025
Page 3
The Scotbelge Charitable Trust
Statement of Financial Activities for the Year Ended 5th April 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £. | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Investment income | 2 | 77,605 | 78,338 |
| EXPENDITURE ON | |||
| Raising funds | 3 | 525 | 119 |
| Charitable activities | |||
| Grants | 100,000 | 105,000 | |
| Other | 1,308 | 2,093 | |
| Total | 101,833 | 107,212 | |
| Net gains/(losses) on investments | 122,457 | (431,087) | |
| NET INCOME/(EXPENDITURE) | 98,229 | (459,961) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,306,395 | 1,766,356 | |
| TOTALFUNDSCARRIEDFORWARD | 1,404,624 | 1,306,395 |
The notes form part of these financial statements
Page 4
.
The Scotbelge Charitable Trust
Balance Sheet 5th April 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 7 | 1,392,716 | 1,270,258 |
| CURRENT ASSETS | |||
| Cash at bank | 11,908 | 36,137 | |
| NET CURRENT ASSETS | 11,908 | 36,137 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,404,624 | 1,306,395 | |
| NET ASSETS | 1,404,624 | 1,306,395 | |
| FUNDS | 8 | ||
| Unrestricted funds | 1,404,624 | 1,306,395 | |
| TOTALFUNDS | 1,404,624 | 1,306,395 |
The financial statements were approved by the Board of Trustees and authorised for issue on 9th October 2025 and were signed on_ its behalf by:
G M McGill - Trustee
The notes form part of these financial statements
Page 5
The Scotbelge Charitable Trust
Notes to the Financial Statements for the Year Ended 5th April 2025
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of[Ireland'][and][the][Charities][Act][2011.][The][financial][statements][have][been][prepared][under][the][historical][cost] convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of[the][obligation] can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of[the][trustees.]
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The charity held no restricted funds in the year under review.
Investments
Investments are included in the balance sheet at market value. Unrealised gains or losses on revaluation are taken to the Statement of Financial Activities in each appropriate year. Gains or losses on disposal during the year period are separately identified within the Statement of Financial Activities.
INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Dividend income | 75,238 | 75,580 |
| Interest received | 2,367 | 2,758 |
| 77,605 | 78,338 |
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The Scotbelge Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2025
- RAISING FUNDS
5;
Investment management costs
4,
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----- Start of picture text -----
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Support|costs|525|119|
|GRANTS|PAYABLE|
|2025|2024|
|£|£|
|Grants|100,000|105,000|
|The|total|grants|paid|to|institutions|during|the|year|was|as|follows:|:|
|2025|2024|
|£|£|
|South|West|Scotland|Piping|&|Drumming|Academy|45,000|35,000|
|Wynifred|Keswick|Memorial|Trust|20,000|45,000|
|Game &|Wildlife|Conservation|Trust|10,000|-|
|Army|Cadet|Force|League|-|5,000|
|Robert|Burns|Ellisland|Trust|-|20,000|
|Holywood|Village|Hall|Trust|25,000|-|
|100,000|105,000|
----- End of picture text -----
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended Sth April 2025 nor for the year ended Sth April 2024.
Trustees’ expenses
There were no trustees! expenses paid for the year ended 5th April 2025 nor for the year ended 5th April 2024.
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----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|COMPARATIVES|FOR THE|STATEMENT|OF|FINANCIAL|ACTIVITIES|
|Unrestricted|
|fund|
|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Investment|income|78,338|
|EXPENDITURE|ON|
|Raising|funds|119|
|Charitable|activities|
|Grants|105,000|
|Other|2,093|
|Total|107,212|
|Net|gains/(losses)|on|investments|(431,087)|
|NET INCOME/(EXPENDITURE)|(459,961)|
----- End of picture text -----
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The Scotbelge Charitable Trust
- COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Notes to the Financial Statements - continued for the Year Ended 5th April 2025
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----- Start of picture text -----
||||||
|---|---|---|---|---|
|Unrestricted|
|fund|
|£|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|1,766,356|
|TOTAL|FUNDS|CARRIED|FORWARD|1,306,395|
|FIXED|ASSET|INVESTMENTS|
|Listed|
|investments|
|£|
|MARKET|VALUE|
|At|6th|April|2024|1,270,258|
|Revaluations|122,458|
|At|5th|April|2025|1,392,716|
|NET|BOOK|VALUE|
|At|Sth|April|2025|1,392,716|
|At|5th|April|2024|1,270,258|
----- End of picture text -----
All investments were made outside the UK.
MOVEMENT IN FUNDS
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----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|6.4.24|in|funds|5.4.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,306,395|98,229|1,404,624|
|TOTAL|FUNDS|1,306,395|98,229|1,404,624|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|77,605|(101,833)|122,457|98,229|
|TOTAL FUNDS|77,605|(101,833)|122,457|98,229|
----- End of picture text -----
Net movement in funds, included in the above are as follows:
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The Scotbelge Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2025
8.
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 6.4.23 | in funds | 5.4.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 1,766,356 | (459,961) | 1,306,395 | |
| TOTAL FUNDS | 1,766,356 | (459,961) | 1,306,395 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | re | |
| Unrestricted funds | ||||
| General fund | 78,338 | (107,212) | (431,087) | (459,961) |
| TOTALFUNDS | 78,338 | (107,212) | (431,087) | (459,961) |
RELATED PARTY DISCLOSURES
The trustees of The Scotbelge Charitable Trust are also trustees of the Wynifred Keswick Memorial Trust. During the year under review The Scotbelge Charitable Trust provided a grant of £20,000 to the Wynifred Keswick Memorial Trust (2024 - £45,000).
The trustees of The Scotbelge Charitable Trust are also trustees of the Holywood Village Hall Trust. During the year under review The Scotbelge Charitable Trust provided a grant of £25,000 to the Holywood Village Hall Trust.
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The Scotbelge Charitable Trust
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 5th April 2025 | |||
| 2025 | 2024 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Investment income | |||
| Dividend income | 75,238 | 75,580 | |
| Interest received | 2,367 | 2,758 | |
| 77,605 | 78,338 | ||
| Total incoming resources | 77,605 | 78,338 | |
| EXPENDITURE | |||
| Charitable activities | |||
| Grants to institutions | 100,000 | 105,000 | |
| Support costs | |||
| Management | |||
| Exchange Rate Loss | 168 | 953 | |
| Governance costs | |||
| Accountancy | 1,140 | 1,140 | |
| Investment manager fees | 525 | 119 | |
| 1,665 | 1,259 | ||
| Total resources expended | 101,833 | 107,212 | |
| Netexpenditure | (24,228) | (28,874) |
This page does not form part of[the][statutory][financial][statements]
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