The Scottish Society of the History of Medicine Douglas Guthrie Fund Annual Report The Scottish Society of the History of Medicine Douglas Guthrie Fund Scottish Charity No: SC000531 Annual Report and Financial Statement From: 01 October 2024 To: 30 September 2025 The Scottish Society of the History of Medicine Douglas Guthrie Fund Annual Report ## Reference and Administrative Information Charity Name: The Scottish Society of the History of Medicine Scottish Charity No: SC000531 Trustees: Mr Andreas Demetriades, President. Dr Malcolm Kinnear, Vice-President. Dr John Clark, Secretary. Brigadier Alistair Macmillan DL. ## Principal Office: Treasurer, SSHM, Skiff Cottage, Howwood, Johnstone, Renfrewshire PA9 1AG Bankers: Bank of Scotland, New Uberior House, 11 Earl Grey Street, Edinburgh EH3 9BN Independent Examiner: David Snoddy, 18 Springhill Road, Peebles EH45 9ER ## Stockbrokers: Rathbones, 28 St Andrew Square, Edinburgh EH2 1AF ## Structure, Governance and Management: Founding Documents: Declaration of Trust dated 29 January 1988 and registered in the Books of Council and Session on 10 February 1988. Appointment of Trustees: The Trustees are the Trustees ex officiis of The Scottish Society of the History of Medicine, who are elected to office for a three-year term. Organisational Structure: The Trustees meet from time to time to decide on the distribution of the income in accordance of the terms of the Trust Deed. Risk Management: The Trustees have assessed the major risks to which the charity is exposed related to the operations and finances of the Trust and are satisfied that systems are in place to mitigate their exposure to the major risks. Reserves: The Trust funds are held in a portfolio managed by Rathbones whom the trustees have instructed to invest with an investment risk classified as ‘ medium ’ . The Scottish Society of the History of Medicine Douglas Guthrie Fund Annual Report ## Objectives and Activities: Trust Objectives: The Deed of Trust setting up the Fund declares that its objects "shall be the promotion of the study of the History of Medicine". Activities and achievements in relation to objectives: The Trust awarded no grants this year but Symposium books were purchased. ## Financial Review: The income for the year amounted to £1,390 (2024: £2,703). This disappointing with the income from the portfolio dropping off over the last six months. Rathbones is being engaged in why this is and what changes may need to take place during the next financial year. The Income and Expenditure Account shows a deficit of £3,109 for the year compared to a surplus of £2,703 for the previous year, this being due the purchase of books containing the proceedings of a recent Society history symposium. The Market Value of the Fund's portfolio at the year-end was £89,088, compared to £85,745 as for the previous year. Rathbones management fee for 2024 was £1,140.78, which was deducted from portfolio capital as in previous years. ## Plans for Future Periods: The Trustees do not expect any significant changes in the objectives of the Trust in the forthcoming year. The Society ’ s website and Facebook page continue to advertise the Trust ’ s activities. The Scottish Society of the History of Medicine Douglas Guthrie Fund Annual Report ## **Scottish Society for the History of Medicine Douglas Guthrie Fund** |**2024**||**2025**| |---|---|---| ||**Income**|| |£2,703.85|From Investments|**£1,310.15**| |£0.00|Book Sales|**£80.00**| |£0.00|Interest|**£0.00**| |£2,703.85|**Total Income**|**£1,390.15**| ||**Expenditure**|| |£0.00|Grants|**£0.00**| |£0.00|**Book Purchase**|**£4,500.00**| |£0.00|Independent examination fees|**£0.00**| |£0.00|**Total Expenditure**|**£4,500.00**| |£2,703.85|**Surplus/Deficit**|**-£3,109.85**| |£19,033.03|Balances as at 30 September 2025|**£15,923.18**| |£85,745.00|Investments at market value 30 September 2025|**£89,088.00**| ## Notes to the Accounts - A. The accounts have been prepared on a receipts and payments basis in accordance with the Charities Accounts (Scotland) Regulations 2006 and consistent with the previous year. Consequently, income from investments represents the amounts received and all costs represent payments made during the year. Payment of costs of regenerating funds consists of investment managers’ fees. - B. The Charity is not registered for VAT purposes and all VAT incurred is therefore irrecoverable. Where applied, VAT is included as part of the expense. - C. The market value of the Investment Portfolio as at 30 September 2025 was £89,088. - D. No gifts, donations or legacies were received during the year. - E. One large book purchase was made (£4,500) was made in this year. It is a record of the proceedings of a recent Society symposium on medical history and is for sale over the coming years. - F. There were no salaried employees during the year. - G. The Trustees received no remuneration during the year. The Scottish Society of the History of Medicine Douglas Guthrie Fund Annual Report - H. Governance costs were nil (2024: nil) - I. Investment managers’ fees were £751.07 (2024: £882.30). As in previous years, this was deducted from the portfolio capital. ## Statement of Trustees’ Responsibilities The Charities & Trustees Investment Act (Scotland) 2005 and the Charities Accounts (Scotland) Regulations 2006 require the Trustees to prepare financial statements for each financial year that give a true and fair view of the Trust’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements, giving a true and fair view, the Trustees are required to: - select suitable accounting policies and then apply them consistently - 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 - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and which enable them to ensure that the Financial Statements comply with the legislation noted above. They are also responsible for safeguarding the assets for the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## Accounts Preparation The Trustees confirm that the accounts for the year ended 30 September 2025 have been prepared so as to comply with statutory requirements, the Charities Accounts (Scotland) Regulations (2006) and the Trust’s own governing document. Approved by the Trustees and signed on their behalf, Brigadier Alistair Macmillan Treasurer 12 November 2025 The Scottish Society of the History of Medicine Douglas Guthrie Fund Annual Report Independent examlnerfs report to th• trustees of Thé Scoltlsh Society of th• History of Medicine Douglas Guthr* Fund I rEp)rt on the a(xounts of thè Fund forthe year ènded 30 September 2025. Rtspeclm rnsponsl>ikns of Irus*es and oxamln Thé charity'5trustees arg responsibleforthoFryiaration of thèa¢cyJunts.Thg (*aftVs bwstees considerthatan audit is nolrequired for this year undersection 10(1) Id) the Charits&s and Trustee Invastment Iscottand) Act 2(K)5 and that an Indepen￿)t examinAbon 15 needcd. li is my responsibility lo: . exarrihe the w)unls Unders￿tiOn 44{IXc) ol th• 2005 Act . k) slaiE whelhgr partr(¥lar matters have to ry aiknfi( Basis of Independent examln•r's report My examinabon was canied ￿t In accordance with Rogulaiion 11 of Ihe 2006 At￿U￿b Regulations. An gxaminalion includos a wiew of the acoxynting rett￿￿$ kept by Ihe tharity aftd a comparison of the accounts prBsent8d with ihose rEcords. 11 also indud4s considoration of any unusual items ￿ disdosures in the accounts, and sccking explanab'ons from you as trustcos cAJn¢eming any such matters. The procedurBS undertaken do not provide 811 the evidents Ihat would ￿ required in an audit and c3)n%eqUen￿Y no opinion is given as to whetherihe accounts presenta 'true and fa view. and thé rerxm is lirThted trj those mallers set L)Ut in the next slatement kndop•ndent examin8fs stst¢ment In connacbon wilh my examtnalion, no mattr¥r has come to my attènbon: {1) which gives ma ￿8$onaL￿e causg to believe thai in any ￿eterIal respeci Ihe requirements" • k) keep accountin9 records in accordaftts wilh Section 44(1) (a) of the 2005 Ad and Regulab'on 4 of the 2006 AcrAwnts Regulations . io aCc￿￿nIS whith accord with ihe accounting records and t))rrply w Regulation 9 of Ihe 2006 Ac(¥Junts Rew[ab￿S ..have noi been IT￿( nor (2) lo which, in my opinion. allention should be drawn in Order b enable a proper undor5tanding of Ihe ac(x)unts to be fEachod Sionad: Natr*: David Snod The Scottish Society of the History of Medicine Douglas Guthrie Fund Annual Report RfAovantprofessional qualifuliiin or body: {Chartere(I InslSlukof Manage￿￿1 Accountants) Ad¢Jross.' 18 Spftnghill Road. Pogbles, EH45 9ER Date: 8th November2025