CHARITY REGISTRATION NUMBER: SC000284 The Younger (Benmore) Trust Unaudited Financial Statements 31 March 2025
The Younger (Benmore) Trust Financlal Statements Year ended 31 March 2025 Paga Trustees, annual report Independent examiners report to the trustees Statement of financial activities Statement of financial position Notes to the financial ststements
The Younger (Benmore) Trust Trustees. Annual Report Year ended 31 March 2025 The twustees present their report and unaudrted financial statements of the charity for the year ended 31 March 2025. Reforenco and administrative details Registered charity namo The Younger (Benmote) Tntsl Charity feglstrallon number SC(XX)284 Principal office The tru8taè8 {Resigned 31 October 2024) Company vcretary Structure. governance and management Recruttment - Appcm'ntment of Trustees New Trustee proposed by one of the Trustees arKI seconded. Deeds of Assumption & Conveyan and Power of Attomey D0MentS drawn up by Trusl's solOrS and these d()¢ments sn0d by all Trustees including new Trustee. Goveming Document The Younger {8enmore) Trust is a registered tharty the purposes and administration of which are set out in its founding document. Objectives and activities The Younger (Benrnore) trust makes funds available for such agr1 projeds in the Garden as come wtthin the aims of the Trust bul which cannot readily be furKJed ftom nonnal Royal Botanic Garden sources. To meet a gardenmofest related educats'onal (xthmrtment UreT the letms of the original Deed of Gift. the Trust periodically also makes lunds available to assist garden staff in furthering their knowledge of silvicultural arKI t>otanical pracbces and rt may provhle studenl incentives from time to time. The purposes indude the advanrent of edu)n. advancement of the arts. heritage. culture or scien. the advanrnent of envwcmmental prolectk)n Of inprovement.
The Younger {Benmore) Trust Trustees, Annual Report (cortinuod) Year ended 31 March 2025 Achl•vem•nts and perforni•n¢e Activities -contribution towards Benmore Botanic Garden Projects -TravellBurSaryrainln9 for Garden Staff Achievements -ongoing Estate Management Investmenl in Stocks and Shares to benefrt Trusts Funds. Flnanclal revlew Reserves are invested in Stocks and Shares and in small amounts ol land The unrestricted funds can b8 Uséd at the discfetion of the Truste88 in furtheranc* of the chanty's oty'ectiV88. Tha trust8ès' annual report was approved on 16 Derxnbèr 2025 and sned on behaff of the board of trustees by
The Younger (Benmore) Trust Independent Examinees Report to the Trustees of The Younger (Benmore) Trust Year ended 31 March 2025 I report on the accounts of the charity for the year ended 31 March 2025 which are set out on pages 1 to 14. Respective responsibilities of trustses and examiner The charily's trustees are responsible for the preparation of the accounts in accordance with the lerms of Ihe Charities and Trustee Investment (Scotland) Act 2005 and the CharitEs Accounts (Scotland) Regulalions 20( {as amended) The charity trustees consKlei that the alt requirement of Regulation 10{1) lal lo Icl of the 2006 Accounls RegulatnS does not apply It is my responsibility to examine the accounts as required under section 44(1) (c) of the Acl and to state whether particular matters have come to my attention. 8a818 of independent oxaminer's 8tstement My examination Is carried out accordance with Regulation 11 of the 2006 Accounts Regulalions. An examinalion includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideralion of any unusual items or disclosures In the accounts, and seeks explanations from the Irustees conceming any such matters. The procedures undertaken do not provide all the evidence that wculd 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 In the course of my examination, no matter has come to my attenb'r which gives me reasonable cause to believe that in any material respect the requirements.. lo keep accounling records in accordan with Section 44111 la} of the 2005 Acl and Regulation 4 of the 2006 Accounts Regulations to prepare accovnls which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met. or to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. 16 December 2025
The Younger (Benmore) Trust Statement of Financial Activities Year ended 31 March 2025 2026 unInCted funds Totsl funds Total funds 2024 Income and endowments Donations and legacies Charitable activities Inveslment incorre Other income 510 510 399 22,134 1,569 23.191 1.569 23,191 1,569 Total income 25.334 25.334 24,102 Expenditure Expenditure on raising funds. Investrnent management costs Expenditure on chantable activrties Total expenditure 7,882 6,022 7,882 6.022 7,539 2,866 9.10 13.gJ4 13,904 10.405 Net (losses)Igains on investments 12 (32.243) (32.243) 45.152 Net (expenditureincorn8 and net movemont in funds (20,813) {20.813) 58.849 Reconciliation of funds Total funds brought fOard Totsl funds carried forward 939.163 939.163 880.314 918.350 918,350 939.163 The statement of financial activrties indudes all gains and losses reCOgned in the year. All incorne and expenditure derive from continuing actiVis. The noto• on pages 6 to 14 form part of the80 financlal •tstsments.
The Younger (Benmore> Trust Statement of Financial Position 31 March 2025 2025 2024 Note Fixed a88ets Tangible fixed assets Investments 17 18 23,745 825.402 27.352 871,362 849,147 898.714 Currnnt a88ets Debtors Cash at bank and in hand 19 18,711 51.392 13,197 28,152 70,103 41.349 Crodltorn: amounts lalllng du• wlthln on• year Net curront •889ts 20 900 900 69,203 40,449 Total assets le88 current Ilabilities 918.350 939.163 Net assets 918,350 939,163 Fundg of the charity Unreslricted funds 918,350 939,163 Total charity funds 21 918.350 939,163 These financial statements were approved by the board of truslees and authorised for i88ue on 16 December 2025, and are signed on behalf of ihe board by Th• rbOte8 on pag•• 6 to 14 fomi part of th08• fin•nclal 8tatom•nts.
The Younger (Benmore) Trust Notes to the Financial Statements Year ended 31 March 2025 Genoral Inforniatlon The chanty is a public benefft entty and a registered charily In Scotland and Is unincorporated. The address of the pnnopal Offi •I•IIVI Slatsment of compliance These financ1 statements have been prepared in cCmplian with FRS 102. The Financial Reporting Starrtlard applble in the UK and the Republic of Ireland., the Statement o Recommended Practice applicable to chanlies prepanng their accounts in accordance wrth the Financial Reportjng Standard applicable In Ihe UK and Republic of ITelaTKJ {FRS 102) {charitS SORP (FRS 102)) and the Charrties and Trustee Investrnent (Scotland) Act 2005 the Charity Accounts (Scotlandl Regulab'ons 20( (as ameThJedl. Accounting pollci B••i• of pr•paration The financial statements ha been preparwj c¥) the htstorical (xtst basts, as m(yJrfied by the revaluation of certain financial assets and liab11rt and investrnt proper$ measured at fair value through inrne or expendrture. The financial stalements are prepared In stefling. which functK)nal currency of the entty Golng concern There are no malerial uneertaintss about chaws ability to continue Judg•m•nts and koy Ure•• of Mllmatlon unc•rt•lnty The preparation of the finanaal statements requires management to make judgements, estimates aThJ assumptions that affe(a the amounts reported These estimales and judgements are continually revie¥1 ale ba1 on eXpeen and other faclors, including expectations of future events that are believed to be reasonable under the Clrcurnstans Significant Judgements The Judgements (apart frc¥n those mofving estimatK)ns) that manageffent has made In the process of apptying the entty's accounting polictt and that have the mosl Snlcan1 effect on the amounts ieco3nis&l In the financ1 stalemenls are as follov43. There are mateiial judgernents that rnanagement have made in the PfocesB of applying the entty's acxx)untiThJ pol. Key souices of eStnalK urrta1nty Accounting estimales and assumptnS are made conceming the future and, by their nature. will rarely equal the related aclual outcome The key assumptions and other sources of estimation uncertainty that have a signthcant nsk of causing a matenal adjustment to the carrying amounts of assets and liabilils wrthin Ihe next financial year are as follthws.. There are no matenal accounb.ng estimatss and assumptiMs that have a SnifICant risk of causing a material adjustrnent to the CayIng amounts of assets arKI liabili5 wrthin the nexi finanual year.
The Younger (Benmore) Trust Notes to the Financial Ststements (conthwd) Year ended 31 March 2025 Accounting pollcies (contlnu Fund accounting Unrestricted funds are available for use at the diSCretn of the trustees to further any of the charity's purposes. DeSnated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions Dn their expenditure declared by the donor or through the temis of an appeal. and fall into one of two sub<lasses'. restricted Income funds or endowment funds. Incoming rnsourcety All incoming resources are Included In the ststement of financial activities when entitlement has passed to the charity., rt is probable that the economic benefrts associaled wrth the transaction will flow to the charty and the amount can be feliably measured. The following specific policies are applied to particular categories of income.. income from donations Of grants is recognised when there is evidence of entitlement to the gift. receipt Is probable and Its amount can be measured reliably. legacy income is recognised when reIpt is probable and entiilemenl is established. incorne from donated goods is measured at the fair value of the goods unless this is impraclical to measure reliably. in which case Ihe value is derived from the cost to the donor or the estimated resale value. Donated facilrties and seDiices are recognised In the accounts when received if the value can be reliably measured. No amounts are induded for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestrided funds unless there is a contractual requirement for rt to be spent on a particular purpose and returned If unspent, in which case it may be regarded as restricted.
The Younger (Benmore) Trust Notes to the Financial Ststements (conl1nd} Year ended 31 March 2025 Accounting policies (contlnu•dJ Resources expended Expenditure is reccgnised on an accruals basis as a liabilrty Is incurred. Expendrture includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading aclivities, and the sale of donated g(K)ds. expenditure on charitable activities includes all costs incurred by a charty in undertaking activrties that further rts charrtable aims for the benefrt of rts beneficiarbes. including those support costs and costs relating to the governan of the charity apportioned to charitable activrties. other expenditure indudes all expendrture that is nerther related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories refl8Cting the us8 of the resource. Dir8Ct costs attributsble to a single activty are allocated directly to that activrty. Shared costs are apportioned between the activrties they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are inrtially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impaimient losses Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairmenl losses. An increase in the carying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has Pfeviously been recognised as expendrture wrthin the statement of financial activrtbes. A decrease in the carrying amounl of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, In which case the loss is shown within other recognised gains and losses on the statement of financial activities. Investments Unlisted equty investrnents are inTtialty recorded at cost. and subsequenty measured at fair value. If fair value cannot be reliably measured. assets are measured al cost less impaimient. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
The Younger (Benmore) Trust Notes to the Financial Statements (contslnu•dJ Year ended 31 March 2025 Accounting policie8 (eoneinu Investments in associates Investments in associates accounted for in accordan wrth the cost model are recorded at cost less any arxumulated impaiTment losses. Investments in associates accounted for in accordan with the fair value model are initially recorded at the transaction price At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. W71ere it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investrnent are recognised as income without regard lo whether the dislribulions are from acMUlated profrt3 of the 8830ciate arising before or after the date of acquisition. Investments in joint ventures Investments in jointty controlled entities ac¢x)unted for in accordan with the cost mcmjel are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordan with the fair value model are initially recorded at the transaction pri. At each reporting date, the investments are measured at fair value, wrth changes in fair value taken through incorne or expenditure. Vvhere it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accurnulated profits of the joint venture arising before or after the date of acquisition. Impairment of fixed assets A review for indicators of impairment is carried out al each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverabbe amount, the asset Is impaired accordingly. Pnor impaimients are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when rt is not possible to estirnate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating untt to which the asset belongs The cash-generaling unit is the smallest Klentrfiable group of assets that includes the asset and generates cash inflows that largety ndependent of the cash inflows from other assets or groups of assets. For impaimient testing of goodwill, the gocrfjwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating unils that are expected lo benefft from the syner9ie3 of the combinalion, irrespective of whether other a8sets or liabilities of the charity are assigned to those unrts.
The Younger (Benmore) Trust Notes to the Financial Statements (rnnllnuodj Year ended 31 March 2025 Accounting policies (continu•d) Financial instruments A financial asset or a firbancial liabilty is rec(*3nised only when the entty becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. unless the arrangement constitutes a financing transaction. where li is reccgnised at the present value of the future payments discounted at a market rate of interest for a similar debt instTument. Current assets and current liabilities are subsequenty measured at the cash or ottr consmjeration expected to be paid or reiVed and not discounted. Debt instruments are subsequently measured at amortised cost. Mhere investrnents in shares or preferen shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are inrtially recognised at fair valL•e. unless payment for an asset is deferred beyond nomial business tems or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value. with any changes recognised in profit or loss, with the exceplion of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective eviden of impairment at the end of each reporting date. If there is objectrve evKJence of impaiment, an impaimient loss is recognised under the appropriate heading in the statement of financial activrties in which the Initial gain was recognised. For all equrty instruments regardless of significance. and other financial assets that are Indivua1ty sTrgnificant, these are assessed individually for impaimient. Other financial assets are erther assessed individually or grouped on the basis of similar credit risk characteristi(x Any reve15 of impaimient are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impaimient not previously been recognised. Donation8 and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations 510 510 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Income - Cherished Plan 399 399 10
The Younger (Benmore) Trust Notes to the Financial Statements (cojrfknwd) Year ended 31 March 2025 Inveslm•nt incom• Unrestricted Totsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 Income from listed investments Bank Interest 22.288 903 22.288 21,574 560 21,574 560 23.191 23.191 22.134 22,134 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Rent Received 1.569 1.569 1,569 1.569 Invo8tm•nt manag•m•nt cts Unrestricted Totsl Fund8 Unrestncted Total Funds Funds 2025 Funds 2024 Portfolio Management Fees 7.882 7,882 7,539 7.539 ExpendSture on charitable activllios by fvnd typ• Unrestncted Total Funds Unrestncted Total Funds FurKIs 2025 Funds 2024 Unrestricted Funds Support costs 5,209 813 5,209 813 1,899 967 1,899 967 6,022 6.022 2,866 10. Expenditurn on charitable aclivili08 by activity type ActivitEs undertaken directy Support costs Total funds 2025 Total nd 2024 Unrestricted Funds Governan cxxts 5.209 70 743 5,279 743 1,966 900 5,209 813 6,022 2,866 11
The Younger (Benmore) Trust Notes to the Financial Statements (Cond) Year ended 31 March 2025 11. Analy818 of support costs Unrestricted Funds Tolal 2025 Total 2024 General offi Finance costs Governance costs 10 60 743 10 60 743 60 900 813 813 967 12. Net (10s808)Igalns on inveslments Unrestricled Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Unrealised Gainsl(losses) on listed investments Realised Gainsl{losses) on listed investments {15,537) (15.537) 34.818 34.818 (18,7() (32.243) (18,706) (32,243) 10,334 10,334 45,152 45.152 13. Net (expendltureylncome Net (expenditure)fincA)me is stated after chargingl(credrting) 2025 2024 Depreciation of tangible fixed assets 1.203 14. Independent examination l•es 2026 2024 Fees payable to the irKlependent examiner for.. Independent examination of the financial ststements 743 900 15. Staff costs The average head count of employees during the year was Nil {2024.. Nil) No employee received employee benefits of more than £60.000 during the year (2024. NII). 16. Trustee remuneration and •xp•ns An honorarium of £500 was pabj in the year. 12
The Younger (Benmore) Trust Notes to the Financial Statements (cnd) Year ended 31 March 2025 17. Tangibh fix assets La1 Pud('s Hut Equipment Total Cost At 1 April 2024 Disposals 19,003 4,742 4.810 (4.810) 28,555 (4,810) At 31 March 2025 19,003 4,742 23.745 Depreciation At 1 April 2024 Disposals At 31 Mareh 2026 1,203 {1,203) 1,203 <1,203) Carrying amount At 31 March 2025 19.003 4,742 23,745 At 31 March 2024 19,003 4,742 3,607 27,352 18. Inv•8tm•nts Llsted Inv•8tments C08t or valuatlon At 1 April 2024 Additions Disposals At 31 March 2025 871,362 202,522 (248,482) 825,402 Impalrm•nt At 1 April 2024 and 31 IAarch 2025 Carrying amount At 31 March 2025 825.402 At 31 Mafch 2024 871,362 All investments shown above are held at valuation. Financial assets h•ld at fair valu• Listed investments are valued in the balan£ sheel at Marf(et Value at 31 March 2025. 19. Debtors 2026 2024 Othew debtors 18.711 13,197 13
The Younger (Benmore) Trust Notes to the Financial Statements (ContInu Year ended 31 March 2025 20. Croditor8: amounts falling dué within ono y•ar 2025 2024 Accruals and deferred income 900 900 21. Analy818 of charitablo funds Unrestricted funds At 1 April 2024 Gains and At losses 31 March 20251 Income Expendrture General funds 939.163 25,334 (13,904) (32,243} 91e,350 At 1 Apnl 2023 Gains and At losses 31 March 2024 Income Expenditure General funds 880,314 24,102 (10,405> 45,152 939,163 22. Analysis of net assets between funds Unrestricted Total Fund8 Funds 2025 Tangible fixed assets Current assets Creditors less than 1 year Net assets 849.147 70,103 (900) 918,350 849,147 70.103 (900) 918,350 Unr8strict8d Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year N•t a8uts 898,714 41,349 (900) 939.163 898,714 41,349 (900) 939,163 14