CHARITY REGISTRATION NUMBER: SC000987 The Hope Trust Financial Statements 31 December 2024 GIBSON MCKERRELL BURROWS LIMITED Chanered Accouniants & Siatutory Auditor 28 Ru(lanU Square Edinburgh EH1211W
The Hope Trust Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent auditor's report to the members Siarement of financial aciivities Statement of financial position Nole.s to thc financial stdicments 10 The following pages do not form part of the fjnancial statements De(ailed statement of financial aetivilies 18 Notes to the detailed slalemenl of financial activiiies 19
The Hope Trust Tru5tees' Annual Report Year ended JI Decembtr 2024 The trus[e% prcient thcir TCPOrt and the financial statements of the charity for the year en(kd 31 DLLcmber ?024. Reference and admlnlstratlTre detalls Regtstcred (haritv name The Tlopc Trust Chgrity registr4tion number SC000987 Principal office Glenorchy House 2n Ilninn street F.dinhiirgh EHI ILR The trustees Charity setretary Audilor Gibson McKerrell Burrows Limitcd Chartcrcd Accountants & Sthtutory Auditor 28 Rutland Square Edinburgh EHI 2BW Bankers Bank of ScDtland I l F.aTI Grcy Street Edinburgh EH3 YBN Structure? goi'ernance and mang%ement Thc Trust, whi¥h is 4 rcrvgiiiscd charity i(I SiuLldJiJ (ClidJ"jty R¢¥isU'dtii)11 Nuiiibrr SC(K)Q9117), Ib opcratcd undcr ili¢ rul¢s i)f lis frust Dccd d<llLd 21 April 1890 wid il% 8uppl¢m¢iiÈary DLLd of Trusi d(Itcd 13 ajid 14 f¢bruary 2019. ThL itEan(Igtrinen( uf Lh< Trust Ib tIiL fL"bponsibili¢y of iliL Irus(eets whu are clccted dnd co-optcd under trms ol. Ihe Trust Decd. The Trust illcomc derives from Invegimenis. m.hich are managed by independ¢nr stockbrokLrs. Th¢ Trust docs not produLe fomiLI c&8hflo. tnrecast£ nr hiidgyei pmjeciiLJn% hill Ihe Ini.slLes ClolY monitor income and expendillire Ihroiighout tlie year.
The Hope Trust Trustees Annual Report Icojrlijrutd) Year ended 31 December 2024 Structure. goi'ernance and manaRement (Luntinmedl The Irustees meet twi annually to discuss the ongoing pcrfonnancc of the Trusi. Grants and donations are deÉern)ined by the levels ot'income and the amount ol. lunds available. The TrusV.s reseryes have been built up over a nurnber of years and are ai a level ihe iNsiees are coml-onable with and which allow the Trust to fund projects and mdke donations ag and when they see fil. The IrusteLs have direLted Ihdt no Trnsl lunds shi)uld be invested in Companies inK'olved in the produLlion or manufaLiure of drukFs, &lcuhol Dr lman]ents. The trustee% regularly r¢iri¢W any ri%ks to which th£ Tru%t aScI. may bc ¢xrK>sed. ObjeetiN'e$ and 9¢tlvltles The prinLipal dLtivities of the Trusi are (al advanLing (he Lau5e of t¢mperdnLe through the promoiion of temperance w'ork and ihe combatting af all l()mi4 01. 4ub.%tdn¢c abu%¢ and Ib} prom()ting' Rttfornied thcftlogy and RLlomiLd church life c%pccially in Scoiland and lh¢ .%ocial [niS1on of charitic4 wilh historical or cont¢mporary links to the Reformed tradition, con5idcrcd in its diverse fomis. Achlevements and perform4nce The prinLiPdl aLlil[leS of the Tn1 durin¥ the year continued to be that of providing financial support ot. tcmpcrancc work and to combar drug and alcohol abuse and to promoie (he Refomcd Eradiiion. In particular, the Trust funds il number of pi)gt-¥rddual¢ students iii lh¢ R¢fomi¢d trddition within the Schuols ut. Divinity at Scottt5h bnivcr5iiies and makes grants lu all divinity siudents at Scott15h UnivcrsiiiLs who arc candidatcs for ministry in thL Church of Scotland, the Free Church of Scotland and thc Unilcd Rcfornied Church. Thc Trust its lundingy a two year pan-time post-docioral fellow%hip whi¢h ¢ommen¢ed in Sepiember 2024 at the University ofAbLrd¢Ln. Financial Teiie The value of listed investments Inca$¢d by 2.6 /&. while investment income fell by 0.6O/D in comparison with ihe previous year. Plans for future periods The Tnjst is ¢ommittcd to providing financial assistance io enable six minisicr5 from the Rcfornied tradition its participaic in a thrcc-year course arranLILd through Edinburgh University wilh Piitsburgh Thcological SctninaTr'. whiLh will commence in June 2025. The tru4tee.% will continue to support temperancc work and Combat drug and alcohol abu8c and promote the Reforn)ul tradition in tcrnls of the Trust DLed.
The Hope Trust Tru51ees' Annual Report I¢&Tej Year ended 31 Dectniber 2024 Plans for future periods ¢LDAtinuedi The Trust will continue io tiind a nwnber of Ph.D. students in the Relonned tradition and to Jnake grants lo all di.inIty smdents ai Scotiish Universiiies who are candidates tor minisiry In ihe Church ol Scotland, Ihc frcc ChurLh ol- *oiland and Ihc Uniled RcfoTmcd church. 'I"hc rrusties will tUWKi a new full-timL doc(oral fellom'ship with a student ai a Scottish UnivLrsiiy afier IhL LonLlusion of thL prcvious posl-doLlural lillowship. Trustces, rtspvnsibili¢ies Statement The trustees arc rcspontsible for preparing the trustees, rcport and the fin2llLial gtaiements in JLLordanee with applicablc law and United KIDgdom Ac¢ouniing Standards (Unld Kingdom Generally Accepted Aciounting Pru¢ti¢¢!. The law applicable to charitieq in Scotland requiTe4 ihc chariry truqtee$ io prcpaTC financial .qtatements for each year whiLh gile a truc and tair vicw nt the statc of affdiT% of the charity and nt'thc ircthming resources and application of resources. ofthe Lharity tor that period In prcparing these find1[ sidt¢ments. the trustces are rcquircd to.. selcct suilable accounting policies and thcn apply them consistcntl)" IA)seTh'e ihe meihods and principles In th¢ appliLable CharitiLs SORP,. make judgment5. and aLcountill¥ eslimates ihat are reasonable and prudeni. Idle h¢iher <ypIiLdblc Ll( ALLvuiilinÈ Siandaids liavr be¢ii follow¢d. subjLcI to any matLrial paiiurcs ditsLlustd and Cxplained in lh¢ finanLl411 stdLetngntS." prcpare the fin&nc5al statements on ihe going ¢on¢em basts unlesi it ig Inappropria ¢0 presume thot the chariry will continue In busine5S. The twqiees are re8pnn4ihle far keeping adequate 2ccountinLF reiA)rLls thai are %ufficienl tn .show and explain the charity's transactinns and diqeln%e with reaqnnahlc accuraey ai anv (ime ihe financial position of thc charity. and CDablc ihcm lo cnsiire rhal the financial siatcmLntS i(Itnply with the L httrilieg and Trusiees Ini'Lstm¢n(s (SLOtldndl ALt 2005. thi Charity Accounts (Scotland) Rcgulations 2(K)6. and thc provisiLlnS of the Twgt Deed. They are also regwnsible for sdfeBuardin8 the a4sets of the charitv and hele for takinbtr reasonable Ste for ihe prevention at)d dete¢tion Df fraud and other irreuularities. Thc Iruslccs, annual rcport was apprui'cd on 30 July 2025 and sign¢d on behalf of the board of trustecs by..
The Hope Trust Independent Auditor's Report to ¢he Members of The Hope Trust Year ended 31 December 2024 Opinlun Wc have auditcd th¢ financial stdLem¢nis of The Hope Trust {thc 'chariiy') for ihe }'ear ended 31 J)ecembcr 2024, which cotnprisc the statement ol. linancial aciiviiies, sthicm¢nt of f5nancial position and the related noies, including a summarv of sigmificanl aLcoimling poliLies. The finanLial rcporting fiatn¢w()rk Ihai has been applied in rheir preparation is applicablc law dnd Uniied Kingdom ALcouniing Standard%, including FRS 102, the binancial Reporring Standard applicabl¢ in the UK and Republic of trcland {Unitcd KingdonTr Generally AcLepied ALLounting Practiccl. In our opinion the financial siatemeDts- giv¢ a true fair view of the sthie of the charity's ¢iffairs as ai 31 tkLember 2024 of its incoming rc50urccs and application of res¢)ur¢es: including its income and cxpenditurc, for the year then ended., have becn propcrly pr¢p&red in accordance M*ith Unld Kingdom Generally ALccpt¢d ALcouniing PTacticc: have been prepared in accordance wilh the requircmcnts of th¢ Charities and Trusiee Invcsimcnt IScotland} Aci 2005 and regulation 8 of Ihc Charitics Accounts (Scotlandl Regulations 2006 (a5 am¢nd¢dl. Bgsis for opinion We conductcd our audit in accordancc '1[h Internaiional sndard4 on Auditing (UK) IISAS IUK)) and applicable la.. Our responsibilitics undcr those standard5 aTC furth¢r dLsLribed in the auditor's responsibilities for IhL audit of thL finanLial statemenis section of our report. We ar¢ indcpcndeni of the charity in aicordance wilh the eihiLal requirement5 thdl are relevant 10 our audit of th¢ tinanci21 statLnicnls in thc UK, Jn¥luding Ihc FRL % Ethi¢dl Siandard. and we have fuifillLd our othLr ethical rcsponsibilities in accordancc with Ihcse rcquircJncnts. Wc bcliLk'¢ ihai LhL audii evidence we ha¢ obtained is sufficienr and appropriate to provide a basis for our opinion. Contlu51ons relatlllg to golng concern In audiiingy thL finanLial statL'mcnts. we havc conLludcd that thc trustCCS' Usc of thc guing Loncern bdsis of accounring in Ihe prLparaiion of the finanLial statements is appropridle. Based on the work w¢ have p¢rfornJed, we hav¢ noi ideniilied any marerial unLLrtainiies rclaiing to ci'¢nts ur Londilions ihat, Individually or collLLtivcly. may casl si¥nifiLant doubl i)n th¢ Lharily'% dbiliiy to continue as a going concern for a period of at least twelve monihs from when the financial statcmenis arL auihoriscd for issue. Our responsibilities and the re8pon8ibilities of the mi8tees with re.8pect to going Loncern are d&4cribed in thc rclcvani sections of this repon.
The Hope Trust Independent Auditor's Report to the Members of The Hope Trust (r¢p#il*s¢ed) Year ended 31 December 2024 Other information The oiher inforniation ci)mpri5es thc infonnation includcd in thc annual report. other than (he financial statements and OUT auditor's rery)n therean. The tn5Stees are responsible lor the other inforniation. Our opiniun on the financial slaiLillLnls does nut covLr thL othcr inlorJnat20n and. exccpt to thc cx(Lni oih¢rwise explicitly slated in our report. we do noi express any fonn ot assurancL LunLIubion Ihercon. In connection with our audii of the financial stalLmcnts. our r¢sponsibility is to redd ihe oiher infi)rn)a(i()n and, in d()ingi so. consider wheiher Ihe other information is rndterially inconsistcnt with th¢ financial .qtalemeniq or our knaw'ledge obiained in Ihe audii or othenvise appears to bc matcrially misstatcd. It. wc idcntits. such matcrial inconqis(cnLies or apparLni matcrial mi.5gtaiemcnts, wc arc rLquired to d¢t<rtnine .h¢ther ther¢ is a maleiial inissl4ltement in ihe financial scatcmcnts or a matcrial misstaiemenl of the other informalion. If. based on thc work w¢ have r1mIe& wc LonLlude Lhat there 18 a maierial missthiemeni ot-this other inlomation, we are required to r¢purt that fact. We have nothing to reporl in this rcgard. latters on Th'hich we are required to report by exception In the lighi of Ihe kn0.1edgL and understanding of rhe charitv and its environment obtsincd in ihc COUTse of the audit, we have not identified material missiatements in (he trustees, repon. Wc ha'C noihing to rLpon in re.gpcci of ihc lollowing mattcrs in rclatiun lo which the Charilie4 ALLounts {Scoilandl RLg¥ulations 2006 las amLndLd) rLquirLs lls to report to you if, in our opinion.. Ihe inforniaiion gii'en in ihe ttustees, r¥port iq inLonsisten( in any n)alerial respect '1[h the financial statements: or dequate accouniing records have not been kept: or Lhe linancial slalemenls are not in agreemeni with the accounting reLords and reiurns.. or we hafv¢ noi received all the information and cxplanaTiOllq wc require for our audit. Responsibililies of trustees As cxplaincd more fully in the trusiees, res]Kinsibilities stdiemeni. tbe trustees are responsible for the pi¢paralion ol'the financial siatements and for being satisfied thai (hey give a true and fair view, and for such iniemal control as the irnsiees deiern)ine 1% neLe%%ary Lo enable ihe preparation of financial tatcmcnl% that aTC frce from maicrial misstatemcnt. MihcthLr duc lo fraud ur Lrror. In preparing ihe financial qtat¢m¢nt4, Ihe tru.%tccs arc rc8pon5iblc for asscssing ihc charity's ability to coniinuc as a going conLcm, dibLlis9ing. a5 applicablc. R)attcrs rclated to going concLm and using the going concern basis ol- aLLouniing unless the tnEst¢cs cither intend to liquidate the charity or to cease operatinns. or have no r<dli5tic alt<mative but to do 40.
The Hope Trust Independent Auditor's Report to the Ilembers of The Hope Trust Year ended 31 December 2024 Auditor's Tesponsibillties for the audit of the financial slatements Our objectives are to obtain reasonable assurance about whether thc finanLial stit¢m¢ntS' Ls a wh()le are free from material missialemeni, whether due to fraud or error. and to i.8u¢ an auditor's rcport that includ¢5 1)ur opinion. k¢aonable as%utance IS il high levLI ol- assurance, bui is not a guarantcc that an audit LonduLled in accordanLe with ISAS IL..K) will always d¢t¢LI a liidtcridl missUteIneni wlien il exists. Mi.s.sratements can arise from traud or erroT and arc con5idcred mat¢rial if. individually 01 in ihe aggregaie. thLy could rLasonably bL expccied to influcnce ihe cconolnic dcci%ion8 of u8crs lakcn on Ih¢ basis of Il)esc financial sialLmLnts. Irrcgularitics, including fraud. arc in.%tanccs ol. noft-c(&mplianc¢ u'iih 12wg and regulations. We design proccdurcs in line with our rcsponsibiliiies, outlincd aboi'c. to dctcci malcrial missi£ltcmLnrs in respLCt of irtebFuldiities. inLludinb Irdud. The extent to whiLh our procedures arc capablc of detecting irrLgularitics, including fraud is d¢Liilcd below: at the planning slagTe. 'e gained an undcr5tanding of thc Icgal rcgulatory framework applicable 10 the Lharity and considered ihe Tisks of acts by ihe Lharity which w¢r¢ contrar). tu the applicable la,.9 and rL'gulaiionq; we dis¢ll%s¢d amongst thc ¢ngaLement team the identified laws and regulalions and rcmaincd alert to any indscatiuns ol'non-compliance. during thc audit. wc tocuscd on areas ot law% and re&?uldiiuns that Lould reasonably bL expected to hai'c a matcrial effcct on thc financial statctncnts thr()ugh disLusgions '1th trusteLS reviLw of minutes of tNsiees' meetings in the year. We also considercd Ihosc oth¢r18ws and re¥ulaiiDns that have a direct impaLI on the preparation of financial staiemenrs: w¢ inquir¢d ot thc trust¢¢8 whethcr they have knowledgye of atty aLtual. suspcctLd or allcgcd fraud: e discussed dmongst ihe engagemen( ieam ihe risk of fraud suLh opporturhiiie4 for frduduleni manipulation of financial siatements. Because of the inherent limitations of an audit. therc is a risk thdt wc will not dcteLt all irregularities. including those leading to a maierial misstaiemeni in ihc financial siatCTnenis ur non-¢umpliance with rcgulation. 'I'his risk incrc&qes ihe morc ihai compliancc with a law or rcgulaiion i.% rcmovcd trom (he Ll'en dnd trdnsaclions reflLLted in the finanLial slJtLmcnis. as wc will bc Icss likcly to bccoIne aware of ins14inLes of non-complianLe. The risk i5 also ¥redier rebiarding irrebjularilies OCLurring due 10 fraud rather than error, as fraud ini'olveq inteniional concealmeni. forgery. collusion. omission or mi4reprcscntation. As part of an audii in accordance wilh ISAS (UK). we exercise professional judgment and maintain profc55ional 5CCPticism throughout ihc audit. Wc algo.. Iden(ify dnd dS5esS the risks of matcrial misstatement of the fJnanLial ststemenis. whether due io fraud or error. design and perforni audil piocedure% re4p()n4ive lo those ri4ks, and obiain audit cvidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detcciing a material missiatement resulting Irom Iraud is higher than tor ()ne resuliing from error, as traud may inwolire eollusion, torBCry. intcntional omt8si0S, misr¢ptes¢ntations, or the override of inlLrndl Lontrol. Obtain an iinderstanding ot'inlernal ¢ontrol rclcvanl to thc audit in ordcr tn dc.8igTJ audit proccdurcs that are appropriaiL in IhL cirLun15tances. but not for the purpose ol. expressing an opinion on the ¢ffcctivcncss of the intemal Lontrol.
The Hope Trust Independent Auditor's Report to the Members ol. The Hope Trust fcYillrliiNéYI) Year ellded 31 Decembey 2(b24 F.VdluiitL tIIL dPI)riJi)ri£ilLlTrttSb uf llLLuunliiig puliLiL% uy¢d uiid LIIL I'L(1SUll&ibl¢iiLs& (If acb()uiitiiig ¢sliJndt¢S dnd i'¢la(td di&Llu%ur¥s i4 by th¥ li'u%lc¢s. C.oncludc on Ihc appi'opi'ialciiess (¥f Iliu ti'uslcLs' U%L of tlie going coDr basis Df accounting and, based on the audit evidLnce ubtained, whether a iiiaterial uncertdinty Lxists ielatcd to events L)i' conditions that may cast significant doubt on rhe Lliarity'.s ability to continuo as a going concern. If wc c(Incliid¢ th&t a mLttCTiJI unccrtainty cxists, wc ai'c rcquir¢d to draw attLntion tn ow. auditor's rcport lo Ihc rclalcd disc10.ures 113 Ilic Iiiiancial slalcincntg or, if'such disclosurc8 are inadequatc, lo In(Idity our opiniiin. Oui. Loncliibions ai'L basLd on IhL audit cvidenbc obtainLd up to the dalL ol- oui- auditor's repoit. HowLver, future cvLnts or Loiiditioiis ii)ay cause thc charity to cca8L to continue ab d byoing conceni. Evaluate th¢ ove1?11 pr¢%Lntation, s¢TUCtui'e and caiilLnl Df Ilic financial stdteiiients, includingy the disclosurcs, dnd whether tlie fiE)ancial stateinenls repiEserJt the utiderlykllbF ts"knsactions and events in a manlier that acliiev¢s flliT prcscntation. W¢ comiknunicale Kvith Ih()se chai'ged with govemaiice rLyLiarding, dmong other matters, the plAt¢d scow and timing ol. thc audit and signiticant audit findings, including any sigllificant deficiencies in inlciiial coiiliDI tliat we idcntily during our udit. Use of our I'¢port This rcport is niade solely to the Lharity's mcmbcrs, as a body, in accorddDCC with Rcgulation 10 of Ib Lhariti¢.E Accourtt% {8coiland) R¢gulations 211116 tiTncndcdl. ()ur audit work has bccD undcituken so Iliat wc Iniglit.8liilc In tlic cliarity'% nicmbcr.% t110.sty niattcr.s wc arc r¢qLiircd to $lalL to thcm in an auditor's rcp()i't diid f(Ir iitl iithci. purpo%¢. T(} th¢ fulle%1 cxtLJII IJLI'niit(Ld by Idw, IVL do not &lLLLPt c)r a.%suiiic I'cspoi)sibility to aiiyonc otlier tl)an tlie Lharity dnd Ilic charity's iiieinb¢rs as a budy, for oui. audit work, for this repori, or toi" tlie upinioi)s we hAve fom1ed. I,or <iiid on bbli(Ilt Lll. CJibsoii MLKLI'ILII Buri'uwy Limitcd C'.Iiai'tci'¢d acbiJuiilaiil.% & Sialutory Auditor 28 Ruil4iiJ Squdrty Ediiiburgh EHI 2BW 30 July 2025
The Hope Trust Statement of Financial Activities Ve4r ended 31 December 2024 21124 Unrestricted funds Total funds Total funds 2023 Income and endowments Ini'LbtniLni IllLOTJ)L 276.533 276.533 278.316 Total income 276,533 276.533 27R,316 Expenditure Expenditure on charirable activities Totxl expenditure Net incomel(expenditure) before gainsl(lossesl on ini'estmettts (288,9321 (288,9321 (236.548) 1288.932) (288,9.121 (236.548) (12.399) (12,399) 41,7611 Nei gain&'llosses1 on investments 2Q6,25X 206,258 164.554 Net in¢ornel{expenditure) and nel moNement in funds 193.859 193.859 206.322 Reconciliation of fund5 Total fund% brought forward Total fund5 carried fuTM'rd 7,554,?86 7.554,286 7.347.964 7,748.145 7.748.145 7,554,286 The statcmcni of financial activitics includcs all gains And losses reeognised in the year. All incotne and expendille derive from continuing actii'ities. All fijnds are unresiricted in na(ure. The •ott$ 011 P#8e$ 10 io 16 form part of these fingneial 51ttmtThts.
The Hope Trust Statement of Finan¢i&l Position 31 December 2024 2024 2023 Trqole Flyed assets Invesuncnts li 7,533.209 7.342,027 Current assets C&sh ai bank and in hand 3U3.697 255.1$74 Credilor5- arnounts falling due iihin one vear 12 88.761 43.615 Yet current assets 214.936 212.259 Total assets less current liAbilities 7,7414,145 7,554,286 Net a159ets 7,748,145 7,554,286 FuThds of ihe charlty Unreslricd funds 7.7414,145 7,554.286 Tot#1 eh#rity futtdA 13 7,748,145 7,554.286 These tinancial Sli1temcnis were dppr(ii'¢d by Ihc board of tTu8¢ces and Ruthnrigcd for issuc on 30 July ?02f. aiid arc si n¥d uii behalf of ihL board b The Thoit5 Pllg l• to 16 rom part of these 5tstcments.
The Hope Trust Notes to the Financigl .Stgtements Year ended JI December 2024 General iTbformation The charity is a public benefit enrity and a registered charity in Scotland and is unin¢orporaled. The addregs of the principal office is Glenorchy House, 20 Union Street. Edinburgh. EH13LR. Statement of compliance These financikl statements hkve bccn prcparcd in compliancc with FRS 102, 'Thc FindnLial R<p()rtinkY Standard appliLablc in the UK and ihL Republic of ITeland', Accounting and Reponin by Charities.. Siatcmcnt of Recommcndcd Practicc applicable to chariiie.s preparing rheir accounts in accordancc '1th thc Financial Rcporting Siandard applicable in Ihc UK and RLpubliL of Ircland IFRS 1021 leffeLtiv¢ l Janu(uy 20191. Ichdrities SORP IFRS 10211, the Companies ALI 20U6 and Ihe Chariiics and Trusice Investmenl Iscoildndi Act 2005 and the Charits, Accuunis Iscuilandl Rcgulaiionq ?006 {a8 amcndedl. Thc chariiy con%tilutLs a publiL bencfii Lniity a% dLfincd by FRS 102. Aecountlng policSes Basis of preparation The financiAI 5tateinents have bccn preparcd on thc historical cost basis. as modified by thc rei'aludtion ol- c¢rtain financial asscrs and liabiliiiLS and invLstmLni propLniLS tlleasured ai fair valuc through income or expenditure. The tinancial statements ar¢ pr¢parcd in 5t¢rling, which is the functsonal currcT)cy of ihc cnlity. Guln% concern There are no matcri#l uncertaintie5 about the charity's abiliry to continue. DlsclosuTe exemptions Thc cniity saiislies the ctiteria of being a qualsfying entity as dclincd in FRS 102. As such. dvantagc has b¢cn iaken of the following disLlosute exempiions aVlble und¢r Pdrd&Frdph 1.12 uf FRS IUI: lal No casl) flow sLement hag bcen PrCs¢nt for thL Lharity. (bl DisLlosures in respeLI uf financial instrument5 have not been presented. Judgements and key source5 of estim¥tion vncertaintt. Thc prcparation of the financial gtatem¢nt% rcquircs managcmenE to makc judgcmcnts. estimatcs and assumptions that affcct the atnounts rcponed. These ¢stimate_s and judgTcmcn15 arc continually revic.Ld and dre based on experience and uih¢r faLt()rb, inLluding expcciaiions uf luture events that ar¢ bcliLvcd to bL reasondble under thc Liicumstanccs. Fund accounting Thc charity has both capi(al and revcnuL funds, all of which are unrestricted in nature. iu
The Hope Trust Notes to the Flnanelal Stattments (¢wsfvoMedJ Year ended 31 December 2024 Accounting policies (c4pntsn¥eAf) Incoming resources Incoming resourccs are included in lh¢ period in which thcy arc rcccivablc. which is when the chariiy beLomes eniitled tu the rcsource. Resourees expended All expenditur¢ is includcd on an accnials basis and is recogniqed whLn there is a legal or constnjctii'c i)bligalion to pay for cxpcnditure. All cosls hdve bLen directly uttributcd to onc ol'th¢ funLtional caiegToTies ofresources expended in the Stal¢mcnl ol- Financial ALlivitics. The Trust 15 not rcgisiLrcd for VAT and acLordinbily expenditure is .%hO.n gFroqg of irrLcovcrablL VAT. Expenditure is alla¢atcd bet.¢¢n cxpcnsc hcadings on a dircct COSI basi5. Inve5tmeDt5 Listed ini'estments are includcd in the account5 at their cUent market value on the balanLe sheel date. Other fJx¢d assct invcslments arc included ai Ihe mosi recently obtained markei i'dludtion. Impairment of fixed assets A review for indicators of itnpairmcnt is Caled out at each reporting date, with the recoverable amouni being <8timgted 'here such indicators exisi. Where the carrying value exLeeds the recoverable amount, the assLt Is impaired accordingly. Prior impaimients are reviewed for possible re.erSa[ di edch reponing ddle. For the purpos¢5 of impaimicnt tLsiing, when i( is nut pussible lo esliniate th< rcLI)vLrablc amount of an individual assct. an es(imaie is mdd¢ Df tl)c IcLoi'crablc am()unt of the Ch-generallng unit tD whiuh ihe Se1 belongs. The c&qh-generatinLi unit 14 the smallcsi identifiable group of &gseis that includcs Ihc a.ser and gLncrat¢g cagh inflows that largcly indcpcndent of Ihc cash inflows from othcr assets or groups ol-ass¢tS.
The Hope Trust Notes to the Financigl Statements (¢'ovrfMHedi Year ended 31 December 2024 AccDuntin% policies Flnanclal Instruments A financial assct or a finanLldl liability is rec(Ignised only when the entity becomes a paty to the Lontractual proi'isions of the instrument. Basic fllhanLiai instnmienis are initldlly r¢¢ogFni5ed at the amouni receivable or payabl¢ including any r¢l2ted tran%aLtion custs, unl¢s5 the arrangTcmcnt constitulc5 a finanLing' transaclion, ,her¢ it is rttogni8¢d at thc pr¢.%ent value of ihe tuture payments discounted at a market rate of inierest for a similar dcbi instrumcnl. Current asscts and currcnt liabilitie.% arc subscqucntly mc&%urcd ai lh¢ ¢a%h or oihcr con%idcration cxpcctcd to bc paid or rcccivcd and not discounicd. Where investment.s in shares or preference sharLs are publicly traded or their fair value can ih¢rwis¢ bc mca%urcd rcliably, thc invc%tmcnt is sub5Lqu¢nily me$ured ai fair value ,17 changes in lair value recognised in income and cxpcnditurc. All othcr such invcstm¢nis are subsequently mcasurcd al cost less impaimiLni. Financial assets that arc tllC2surcd at cost or amortiscd cost arc rcvicw¢d tor ubjcctive cvidcnce of impairment ai thc cnd ol- cach rcporting datc. If thLfL IS objLCliI'C cvid¥ncc ol. Impairmcnl, an impaim)cni108s is rccognised under ihe appropriaie heading in the statemeni of financial actitIcS in hleh the iniiial gain was rccognisLd. Any r¢vcnkils of iTnpiiinncnt arc rccugylliscd iinmLdiatcly. lo thL cxtcnl that thc rci'Lrsal di)es noi re8ult in d catryingr am()uni ol'ihc Iinancial 41ssci that CXLe¢d& whai ihc c8tryin&F amvuni would have b¢en had the impairment not previousl). been recognised. Investment Ineome Unresiricted Total Funds Unrestricted Total Funds Funds 2024 2023 Income from listed invesunenis Blink int¢rcst rcLLivablc 270.499 6.034 270.499 6.034 274.102 4.214 274,102 4,214 ?76,533 276,533 278,316 ?78.316 l2-
The Hope Trust ilotes to the Finanelal .Statement5 IconliMwÉafJ Year ended 31 Deeember 2024 ExpenditUTe on charitable activitie5 by fund type Unre5trictcd Total Funds Unresiricted Total Funds 2024 Funds 2023 To promote teinperance and to ¢ombdt all forni.% 014ubsianL¢ ttbus¢ Ti) promoic the Reforn)cd tradition Suppon costs 74,000 143.()72 71,260 74,000 143.679 71,260 62.500 104.386 69.662 104,3116 69,662 288.932 288,932 236,548 236.548 Expendlture on eharlt4ble actlvities by actiTrit)' type Activiiies undenaken dircctly Support costs. Total funds 2024 Total fund 2023 To promote tempernncc and to Gombal all fornis ol-substincc abuse -ro promot¢ thc Rclomicd tradition Goi'cTnanL¢ Lusts 74.0()O 143.672 74.000 143,672 71.260 62.500 104.386 69,662 71,260 217.672 71.260 288,Y32 236.548 Support costs Support costs Total 2024 Total 2023 Finance cOt Goi'Lmance costs Management fees Oiher LOSES 27.065 5,400 36,000 2,795 27.065 5.400 36,000 2.795 25,586 5.400 36,000 2,676 71,260 71.260 69.662 Net (losses)Igains on In*estmentS Unrcstrictcd Total Funds Unresiricied Total Funds Funds 21124 Funds 2023 Gainslllosgeq) on investment assets 206,258 706.258 164,554 164,554 13-
The Hope Trust Notes to the Flnancial Statements Year ended 31 December 2024 Auditors, remuner#tion 2024 2023 Fees pa)'abl¢ for thc &udit of thc financial statements 5,400 5.400 10. Trustee remuneration and expenses Trustee exp¢nq¢q totalling £1,600 {2023 £1.600) were paid to 5 trustces during the year {2023 - 6 trnstces). Thcsc cxpenscs rclatc to subsistcnce incurrcd. I l. llli'e5tments Llsted Invesiments C05t or vAluation At l January 2024 Additions Disposals Other moi'ements 7.342.027 626.175 1642,0841 207.091 At 31 December 2024 7.533.209 Itllpairment At l Janu&rv 2024 and 31 December 2024 Carrying xmnunt At 31 December 2024 7.533.209 At 31 D¢c¢tnb¢r 2023 7.342,027 All investment.4 shown abovc are hcld a( valuation. Flnancial assets held at fair i'alue LiSd invcstm¢nts at fair value comprised.. 2024 2023 UK Quoted fixed inieresl securities UK Quoted shares Non-UK Quotcd sharcs Other UK sccurities 551.866 2,352,709 4.244.644 3%_3,9911 5M),448 2,578.478 3.797.664 405.437 7.533.209 7.342,027 The fair k'dllle of invesiments is their markei value at the year end. 14-
The Hope Trust Yotes to the Financial Statements (conlrRutdJ Year ended 31 De¢ember 2024 12. Creditors: amounts falling due within one year 21124 2023 AcLruals and def¢rred incomc 88.761 43.615 13. An41ysls of eharii#ble fund5 Unrestr5cted funds At31 Gains and December losses 21124 At l January 2024 Incomc Expcnditurc R¢vcnuc fund Capital tund 222.122 7.332.164 276.533 {261,8671 127,065) 236.788 7.511.357 206,158 7.554,286 276.533 {288,9.121 206.258 7.748.145 At31 D¢Lember 2023 At l January 2023 Gains and losscs Income Expenditure Revenue fund Capiul fund 154,768 7.191.196 278.316 1210,962) 125.586) 222,122 7,332.164 164.554 7.347,964 278.316 (236,548) 164.554 7,554.286 14. Analvsis of net assets between funds Unrc5trictcd Total Funds Funds 2024 Investmenis Currcnt asscis Crcditors less than l year Net assets 7,53.3,209 7,531,209 3113,697 (88,761) 188,761) 7,748.145 7,748.145 UnresiriLted Total Fun(ts 2023 Invcstmcnis Current assets Crediiors le4% ihan l ycar Net #s$ets 7,342.027 255.X74 143.615) 7,554,286 7.342,027 255,874 143,6151 7.554.286 Is
The Hope Trust Notes to thc Financial Statements Year endcd 31 December 2024 15. Related parlÉes The Tmsi in¢urred managcmcni cxpenses of £36.000 {2U23 £3h,1111111 wilh Drummond Miller LLP. £18.000 1?0?3 _ £18,0(J)I remained outsianding al ihe year end dale. IS %¥Lfridry uf The Hope Trusi and a Senior Managing Paralegal wilh Drummund Millcr LLP. Du¥in¥ thc year, the Trnsi provid¢d a grant of £4.000 12023 £3,(K)01 to Aberdecn C¢nir¢ for Priiic%fi?nl Thcoloryi,. Is a truslee of The Hope TrLLSt 2nd one of the founders of Aberdeen Centre lur I)rultlI I IiiL)Iu&J. During the year. the proi'ided grani.% tijtslling £Nil12O21- 14.nnn) lo the PitLsburgh Theology Seminary joint programmc. In &%%nLialion with Fdinhurgh lJnii'erqity. % d rru5tee of The Hope Trust and the Professor of Bible and Literature and Priniii)al i)l-NL'i¥ l.iillLkll Wlthin Edinburgh Universiry. Durinu thc l'ear. the TNSI proK'ided a gran¢ cif £3.000 {1023 _ £3.000) to Theology in Scotland. Is a trustee ot The Hope Trusi and Ihe Chair of the Editorial Board of Duiing ili¥ lh¥ Trusl pruvided d o1.£3,0(M) (2023 - £Nill to ihe 3ril HawiLk Bdiialion of Lhe Giilts, BrigTJi dc. 1% a truste¢ of Th¢ Hop¢ Trust and thc Minister ftsr Ilawtck.. Wilton Parish ChurLh. w'hiih is Ihc Church of Ihat baltalion. UTing the s'ear. the Trust prok'ided a grant uf £1,000 (2023 _ £1,000) to the Handsel Trust_ is a trustee of The Hope Trnst and a tnLStcc for the Handsel Twst. 16
The Hope Trust Management Informatlon Year ended 31 December 2024 The following pages do not form part of the fjnancigl ststements. 17
The Hope Trust Detailed Statement of Financial ActiTrities Year ended 31 December 2024 21)24 2023 Income and endoThment5 Investment inctsme Income from listcd Ini".estments Bank inicrc%t rcccii'able 170.499 6.034 274,102 4.214 Total income 276,533 278.316 Expenditure ExpcnditurL' on chlrliable activities OthLr donatiiins cxcccding £25.111)O cach John Hope Scholarship Student granis Pi)4t-doctoral fellowship Scottish Refonnation So¢idy Pri7CS Donations Pitisburbh ThtologiLal Semindry birdnt5 Aberdeen Ccntrc lur Protestan( Theulugy grant Future With Hope Conterence 74,OIK> 3,750 27,000 38.044 2.580 2.4UU 64.500 62,5(K> 2,500 3X,000 17,706 2,580 2.600 34,000 4.000 -i.(M)O 4.onn 1.39X 217,672 166,1486 CJovernan<e Costs Druinniond Miller LLP nianagcmcni fees and outlays Audii le¥ Portloli() management fee$ Tru8ieL Lxpcnscs Othcr cxpcnsLS I (income) irlcluding InSur¢t 36,000 5,400 27,064 1,600 ,195 36,000 5,400 25,5FI(I 1,600 1,076 71.260 69,662 Total expenditUTe 2x8.932 236.548 Net income/{expenditure) before gainsl(lus$es) on investments 112,3991 41,7fi8 Net xains1{losses) on Investments Ctrain%i(lossesl on ini'estmeni asset 206,258 164,554 Net incomellexpenditure) 193,859 206.322 18-
The Hope Trust Notes to the Detailed Statement of Financial Activities Year ended 31 December 2024 2024 21123 Expenditure on charitable actlvltles To promote temperartce snd to combat all forms of substance abuse Aciivitie.¥ undertoken direetl Jlasgow StrL¥t P&I510rs CCAST Hibhland Edinburgh City Mission Edinburgh & Lothian Council on Alcohol Addictian Rccovcry Centr¢ KiTkintilloch Cdirns Counselling Aberdeen Str¢¢t Pastors H()pe Church Roy.qton Junction 12 Edinburbyh Young Carers New Team Scoiiish AILohi)I Counselling Streei ConneLt YMCA Bell%hill Christian Aid- Middle East Crisis Appeal Th¢ Shcd Projeci Flarbour Ayrshire Riverside Community Trust LAYC Church Atmy IDundee Cenrrc of Mission) OLher donations nor exL¢cding £2,00012023 - L2,11001 each 3.000 5.000 5,000 2.000 2,UOO 3.0110 .3.U(Ml 3,000 3,000 3,000 3,000 3.000 5,000 5,500 3,000 3,000 4,500 3,000 3,000 3,000 2.000 25.000 5.000 3,000 3,IlUO 2,500 2,500 ?0.000 ?,O(M) 12.50n} 74.000 62.500 19-
The Hope Trust Notes to the Detailed Staternent of FlnAn¢i91 Activities Year ended 31 December 2024 2024 F.xpeTtditure on charitable activities To prumote ihe ReformL.d tradltion ALllI'ilies underioken direcilj, Jtshn Hope Scholarship Student gyrdnts Posi-docloral tellowship SLOttish Relorniation Society PIiA¢5 Future With 14ope Confercnce Pittsburgh Theological Seminary grants Fresh Stdrt Hebridcs Alpha Projcct Church Ser¥'iLC Socicty Scolrish Cliurch ThLological Society Boy5 BribTfd dc- Gldsgow Boys Brigdd¢- Paisley The Haven Kilmalcolm Simpson Flousc- C rossrLach Girls Brigade 3rd HdWILk Scottish Church History Society Aberde¢n Ccnire for Prntcstani Thcology grani ThL Barn Project (St Manin's Mcmorial Church) Quiet Waiers Thcology in SCotld Other donaiiorEs nor ex¢c¢ding £2,00012023 - £2.000) each 3,750 27.000 38,044 2,580 2.400 1,398 2.500 38.000 17,706 2,580 2,600 4,0(M) 5,000 15,000 3.000 3.000 4.000 3.000 3,1100 3,000 15,IlUI) 3.000 2,500 4.000 2,500 2.5UO 3.000 5.000 3.000 2,000 2,Iinn 3.000 J,000 11.000 143,672 104.386 Total expenditure on charitable activities 217,672 166,8%6 20-