EEE A M PILKINGTON CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2025 SCOTTISH CHARITY NO. SC000282
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A M PILKINGTON CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2025
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CHARITY NAME
A M Pilkington Charitable Trust
CHARITY NO
SC000282
APPOINTMENT OF TRUSTEES
The Trustees are appointed in terms of the Trust Disposition and Settlement of the late Alice Maude Pilkington MBE JP.
GOVERNING DOCUMENT
The Trust is a charitable unincorporated trust and its purposes and administration arrangements are set out in the Trust Disposition and Settlement of the late Alice Maude Pilkington MBE JP.
STATEMENT OF TRUST PURPOSES
The purpose of the Trust is to hold and distribute funds for charitable purposes as set out in the Trusts governing document. Trustees shall make payments there from at such time, or times, and of such amounts as they, in their sole discretion, may determine to or for behoof of any person, fund, institution or society who is qualified to benefit by a gift for charitable purposes only and that are situated or established in Scotland and if possible to Fife and the local areas.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trust was established by Trust Deed on 1st August 1972 from an initial donation by Alice Maude Pilkington MBE JP, this was followed by further substantial donations. The principal object of the Trust is to hold funds for charitable purposes only. The Trust is administered by the Trustees in conjunction with their agents and investment managers.
The Trustees at their sole discretion hold both capital and revenue funds for charitable purposes only and shall make payments there from to any person, fund, institution, or society who is qualified to benefit from a gift for charitable purposes. The Trustees must invest Trust funds in such a way and manner as they think fit. The Trustees need to allocate the whole income of any particular year but may add any part to the capital of the Trust to an income reserve.
The trustees meet twice a year to transact the affairs of the Trust. At these meetings they consider reports from the investment managers, the financial position, requests for donations and approval of donations.
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A M PILKINGTON CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 5TH APRIL 2025
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STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
The Trust does not have a formal policy for the recruitment, appointment or retirement of Trustees. The Trustees consider whether any changes are required and existing Trustees would be asked to suggest suitable candidates.
The Trustees continue to review the major risks to which the Trust is exposed and where appropriate, systems and procedures have been established to mitigate these risks.
The Trustees have adopted a reserves policy that ensures the continuing ability of the Trust to meet its objectives. Reserves are retained primarily to meet significant requests for financial assistance and any stock market fluctuation.
ACTIVITIES and ACHIEVEMENTS
The Trustees are pleased to report that grants and donations totalling £142,324 (2024 - £104,000) were made to organisations and societies in the year to Sth April 2025. As well as to new organisations, donations were also made to bodies which the Trust has supported in previous years.
TRUSTEES' REMUNERATION and EXPENSES
No remuneration or expenses were paid personally to the Trustees.
FINANCIAL REVIEW
The activities for the year resulted in a surplus of £30,534 (2024 deficit - £8,021).
RESERVES POLICY
The trustees have adopted a reserves policy that ensures the continuing ability of the Trust to meet its objectives and has set the investment managers a target of generating £120,000 to £130,000 per annum from income and capital to allow donations to be maintained at the same level each year. The strategy employed to assist the Trust meet this objective is to have a balanced investment strategy of maintaining investment income and capital value in the long term.
PLANS FOR FUTURE PERIODS
The Trustees intend to continue to hold funds for charitable purposes as set out in the Trusts governing document.
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APPROVED BY THE TRUSTEES
pate: [3 |i25
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A M PILKINGTON CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2025
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I report on the accounts of the Charity for the year ended 5th April 2025 which are set out on pages 4 to 10.
Respective Responsibilities of the Trustees and the Examiner The Charity's Trustees are responsible for the preparation of the Accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 ("the 2005 Act") and the Charities Accounts (Scotland) Regulations 2006 (as amended) ("the 2006 Regulations"). The Charity's Trustees consider that the audit requirement of Regulation 10(1)(d) of the 2006 Regulations does not apply. It is my responsibility to examine the accounts as required under section (44)({1)(c) of the 2005 Act and to state whether particular matters have come to my attention.
This report is made to the Trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees for my work or for this report.
Basis of Independent Examiner's Statement
My examination is carried out in accordance with Regulation 11 of the 2006 Regulations. 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 seeks 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, I do not express an audit opinion on the view given by the Accounts.
Independent Examiner's Statement
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In the course of my examination, no matter has come to my attention :
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which gives me reasonable cause to believe that, in any material respect, the
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1 requirements :
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= to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations, and
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m tO prepare Accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or
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2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.
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EQ Accountants Limited
Chartered Accountants
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Pentland House Saltire Centre Glenrothes Fife KY6 2AH
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A M PILKINGTON CHARITABLE TRUST
STATEMENT OF RECEIPTS and PAYMENTS
FOR THE YEAR ENDED 5TH APRIL 2025
| a | a | a | a | a | a |
|---|---|---|---|---|---|
| NOTE | 2025 | 2024 | |||
| Unrestricted | Endowment | Total Funds | Total | ||
| £ | £ | £ | £ | ||
| RECEIPTS | |||||
| Income from investments other than land and buildings | 94,210 | - | 94,210 | 97,088 | |
| Bank interest | 1,988 | - | 1,988 | 2,791 | |
| 96,198 | - | 96,198 | 99,879 | ||
| Net investments realised | 5 | - | 108,714 | 108,714 | 31,104 |
| - | 108,714 | 108,714 | 31,104 | ||
| TOTAL RECEIPTS | 96,198 | 108,714 | 204,912 | 130,983 | |
| PAYMENTS | |||||
| Grants and donations | 4 | 142,324 | - | 142,324 | 104,000 |
| Investment management costs | - | 24,284 | 24,284 | 27,594 | |
| Governance costs: | |||||
| Accountancy and administration fees Independent examination fee |
5,570 2,200 |
- - |
5,570 2,200 |
5,310 2,100 |
|
| TOTAL PAYMENTS | 150,094 | 24,284 | 174,378 | 139,004 | |
| Surplus/(Deficit) for the year | (53,896) | 84,430 | 30,534 | (8,021) | |
| Allfundsareunrestricted |
The notes on pages 6 - 10 form an integral part of these accounts.
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A M PILKINGTON CHARITABLE TRUST
STATEMENT OF BALANCES
AS AT 5TH APRIL 2025
| a | ||||
|---|---|---|---|---|
| NOTE | 2025 £ |
2024 £ |
||
| OPENING BANK BALANCES | ||||
| Royal Bank of Scotland | : Treasurer’s Account | 1,606 | 1,576 | |
| Cash (Investments) | 72,130 | 80,181 | ||
| 73,736 | 81,757 | |||
| Surplus/(Deficit) for the year Cash at bank at 5th April 2025 |
30,534 104,270 |
(8,021) 73,736 |
||
| CLOSING BANK BALANCES | ||||
| Royal Bank of Scotland Cash (Investments) |
: Treasurer’s Account | 2,663 101,607 |
1,606 72130 |
|
| 104,270 | 73,736 | |||
| VALUATIONOFFUNDS | 6 | 4,039,559 | 4,433,409 |
The notes on pages 6 - 10 form an integral part of these accounts.
APPROVED BY THE TRUSTEES
Date :
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A M PILKINGTON CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5TH APRIL 2025
1 Basis of Accounting
These accounts have been prepared on the Receipts & Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
- 2 Nature and purpose of funds
All funds are unrestricted and may be used at the discretion of the Trustees in furtherance of the objects of the charity.
3 Trustee Remuneration and Expenses
All Trustees gave their time freely and no one received any remuneration (2024 - Enil) and there were no transactions with the trustees during the year (2024 - Enil).
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NOTES TO THE ACCOUNTS
A M PILKINGTON CHARITABLE TRUST
FOR THE YEAR ENDED 5TH APRIL 2025
| a | a | a |
|---|---|---|
| 4 Payments to beneficiaries |
||
| Year to | Year to | |
| 5.4.2025 | 5.4.2024 | |
| £ | £ | |
| Aberlour Child Care Trust | 1,000 | 1,000 |
| ABF The Soldiers Charity | 1,000 | 1,000 |
| Age Concern - Scotland / Cupar | 3,000 | 1,000 |
| Alzheimer's Research UK | 1,000 | 1,000 |
| Alzheimer's Scot (Fife Branch) | 1,000 | 1,000 |
| AT Society | 3,000 | 1,000 |
| Beatson Cancer Charity | 5,000 | % |
| Benedetti Foundation | 1,000 | 1,000 |
| Blood Bikes Scotland | 1,000 | 1,000 |
| Brain Tumour Charity (The) | 1,000 | 1,000 |
| Breast Cancer NOW | 1,000 | 1,000 |
| British Red Cross UK | 3,000 | 1,000 |
| British Wireless for the Blind | - | 1,000 |
| Bumblebee Conservation Trust | - | 1,000 |
| Canine Partners | = | 1,000 |
| Care and Repair Edinburgh | 1,000 | 1,000 |
| CARE International UK | 1,000 | 1,000 |
| Carer's Trust Scotland | 1,000 | 1,000 |
| Cerebra | 1,000 | 1,000 |
| Cerebral Palsy Scotland | 1,000 | 1,000 |
| Chest Heart and Stroke (Scotland) | - | 1,000 |
| Children First | - | 1,000 |
| Children Today Charitable Trust | 1,324 | - |
| Children's Hospice Assoc Scot | 1,000 | 1,000 |
| Christian Orphanage - Malawi | 3,000 | 1,000 |
| City Church Dundee | 1,000 | 5 |
| Combat Stress (Ex-Services Mental Welfare Society) | 1,000 | 1,000 |
| Continuing Care Services North East Fife | 1,000 | 1,000 |
| Crohn's & Colitis UK | 1,000 | 1,000 |
| Crossroads Fife Care Attendant Scheme | 1,000 | 1,000 |
| Crail Community Partnership | - | 1,000 |
| Cruse Bereavement Care Scotland | 1,000 | 1,000 |
| Cupar Development Trust | 5,000 | - |
| Curiosity Collective | = | 1,000 |
| Deaf Links | 1,000 | 1,000 |
| Diocese of St Andrews | = | 1,000 |
| Down's Syndrome Scotland | 1,000 | 1,000 |
| Duke of Edinburgh's Award (The) | 2,000 | - |
| Dundee Museum ofTransport | - | 2,000 |
| Dundee Sea Cadets | = | 1,000 |
| Edinburgh Children's Hospital Charity | - | 1,000 |
| Epilepsy Scotland | 3,000 | 1,000 |
| Families First St Andrews | 2,000 | = |
| Fields in Trust (Dundee) | 1,000 | 1,000 |
| Fife Carers Centre | 1,000 | 1,000 |
| Fife Employment Access Trust | 2,000 | 2,000 |
| Fife Gingerbread | 1,000 | 1,000 |
| Fife Girl Guide Association | 3,000 | 1,000 |
| Carriedforward | 60,324 | 44,000 |
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A M PILKINGTON CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5TH APRIL 2025
| 4 | Paymentsto beneficiaries | Year to_ | Yearto |
|---|---|---|---|
| 5.4.2025 | 5.4.2024 | ||
| £ | z | ||
| Brought forward | 60,324 | 44,000 | |
| Fife Young Carers | 3,000 | 1,000 | |
| Footprint East Neuk | 5,000 | = | |
| Freuchie Parish Church | 2,000 | = | |
| Glasgow Caledonian University | - | 1,000 | |
| Haemophilia Society | < | 1,000 | |
| Hearing Dogs for Deaf People | 1,000 | 1,000 | |
| Helm Training | 2,000 | 2,000 | |
| Homelands Trust Fife | 1,000 | 1,000 | |
| Home-start East Fife | - | 1,000 | |
| Hot Chocolate Trust | 3,000 | 1,000 | |
| ICAN | 1,000 | 1,000 | |
| Juvenile Diabetic Research Foundation | 3,000 | 1,000 | |
| Kidney Kids Scotland | 1,000 | 1,000 | |
| Leprosy Mission | 1,000 | 1,000 | |
| Levenmouth Foodbank & Community Support Project | 1,000 | 1,000 | |
| Lochgelly Band | 5,000 | « | |
| Lyme Resource Centre | 2,000 | - | |
| Medicins Sans Frontieres (UK) | - | 1,000 | |
| Meningitis Research Foundation | 1,000 | 1,000 | |
| Milnathort Guide Hall Committee | - | 2,000 | |
| Money Advice Scotland | - | 2,000 | |
| Move On | 2,000 | 1,000 | |
| MS Therapy Centre, Tayside (MS Research) | 1,000 | 1,000 | |
| Muscular Dystrophy Group - Scotland | 1,000 | 1,000 | |
| Myeloma UK | = | 1,000 | |
| National Deaf Children's Society (Scotland) | = | 1,000 | |
| NYCOS | - | 1,000 | |
| NYOS | 3,000 | 1,000 | |
| Pitlochry Theatre | = | 1,000 | |
| Polar Academy | - | 2,000 | |
| Pumping Marvellous | 2,000 | 1,000 | |
| Read for Good | - | 1,000 | |
| Royal National Lifeboat Institution (Ansthruther) | 3,000 | 1,000 | |
| Saline First Responders | 2,000 | - | |
| Salvation Army (The) | = | 1,000 | |
| Samaritans Scottish Bible Society |
3,000 1,000 |
1,000 1,000 |
|
| Scotlands Charity Air Ambulance | 3,000 | 1,000 | |
| Scottish Centre for Children with Motor Impairments | = | 1,000 | |
| Scottish Huntington's Association | 1,000 | 1,000 | |
| Scottish Society for Autism | 1,000 | 1,000 | |
| Carried forward | 115,324 | 84,000 | |
| Page8 |
A M PILKINGTON CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5TH APRIL 2025
i
| 4 Payments to beneficiaries |
4 Payments to beneficiaries |
4 Payments to beneficiaries |
|---|---|---|
| Year to | Year to | |
| 5.4.2025 | 5.4.2024 | |
| £ | £ | |
| Brought forward | 115,324 | 84,000 |
| Scouts Scotland | 1,000 | 1,000 |
| Seamab | 2 | 1,000 |
| Seascape, Kirkcaldy (Fife Society for the Blind) | 1,000 | 1,000 |
| Sense Scotland | 7 | 1,000 |
| Sight Savers International | = | 1,000 |
| Sistema Scotland | 2,000 | - |
| Spina Bifida Hydrocephalus Scotland | - | 1,000 |
| Squeeze (The) | 2,000 | - |
| St Andrews Men's Shed | 5,000 | - |
| St Columba's Hospice | 1,000 | 1,000 |
| St James the Great Scottish Episcopal Church | 4,000 | 2,000 |
| St Mary's Episcopal Church Sue Ryder Foundation Teapot Trust The Yard |
1,000 - 3,000 1,000 |
1,000 1,000 1,000 1,000 |
| Tommy's Trellis Scotland |
1,000 1,000 |
1,000 1,000 |
| Venture Scotland | = | 1,000 |
| Versus Arthritis | 1,000 | 1,000 |
| Young Lives vs Cancer YMCA Glenrothes |
1,000 2,000 |
1,000 2,000 |
| 142,324 | 104,000 |
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A M PILKINGTON CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5TH APRIL 2025
aTEESE!
| 5 | Investments realised/ (acquired) | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Investments realised in the year | 2,240,619 | 435,383 | |
| Investments acquired in the year | (2,131,905) | (404,279) | |
| Net investments realised/ (acquired) in the | |||
| year | 108,714 | 31,104 |
Note:
The investment funds are managed by Rathbones. Any funds received from the disposal of investments are reinvested under the advice of Rathbones within the portfolio. The net value of the investments realised/(acquired) during the year is shown in the Receipts and Payments Account.
6 Valuation of funds
| Valuation of funds | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| UK Equities | 448,846 | 665,182 |
| Non UK Equities | 2,328,834 | 2,295,853 |
| Fixed Interest | 919,765 | 798,668 |
| Property Other Assets |
- 342,114 |
223,672 450,034 |
| 4,039,559 | 4,433,409 |
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