THE LITHGOW CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Scottish Charity Number SC001555)
THE LITHGOW CHARITABLE TRUST REPORT OF THE TRUSTEES The Trustees present their report together with accounts for the year ended 31 December 2024. The Lithgow Charitsble Trust was established in terms of the Deed of Trust dated 4 July 1972 and is registered as a Scottish charity reference SC001555. The Trustees are directed to apply the Trust Funds for religious, charitable and educational purposes. Funds are distributed lo a wde range of Charitable Institutions. Societies, Organisations or individuals which the trustees consider worthy of assistan. The Trustees who held office during the year were" The position in respect of ongoing irustees is reviewed regularly, and new Irustees are appointed by Ihe existlng trustees. The Trust Deed does not stipulate any requirements wrth regard to the nurnber of trustees, the length of period which they should serve or requirement for reappointrnent. The principal address of the Trust is Nelherton, Langbank. Renfrewshire PA14 6YG. All applications should be made to that address. is responsible for the day-to-day administration of the Trust. The financial position of the Trusl and the activities during the year are as disclosed in the Statement of Financial Activities and the Balan Sheet on pages 3 and 4 respectivety. The charity has considered the reserves required and has taken into account their current and future liabililies. The trustees aim to maintain free reserves in unrestricted funds at a level which is more than sufficient to meet foreseeable unrestricted charitable expenditure. The balance held in unrestricted funds at 31 Dember 2024 was £14,924. In order to fund charitable grants awarded in the year to 31 December 2024, the Trustees ublised donations received in the period.
THE LITHGOW CHARITABLE TRUST REPORT OF THE TRUSTEES (continued) rrustees. Responslbllltles SLltement The trustees are responsible for preparing the Trustees, Annual Report and the accounts in accordan with applicable laws and regulations. The Charities and Trustee Investment (SGotlandl Ad 2005, and the regulations made thereunder, requires the trustees to prepare accounts for each financial year in accordan with United Kingdom Generally Apted Accounting Practi (United Kingdom Accounting Standards and applicable law) which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of the resources. including the income expenditure. of the charty for that period. In preparing these accounts, the trustees are required to.. select suitable accounting policles and then apply them consistently., observe the methods and principles set out in the applicable charitEs SORP,. make judgements and accounting estimales that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial slatements,. prepare the accounts on the going concem basis unless it is inappropriate to presume that the chanty will continue in operation. The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts ¢omply with the Charrties and Trustee Investment (Scolland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), Accounting and Reporting by Charities.. Staternent of Recommend Praclice applicable to charities preparing their accounts in accordance with the Financial reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 and the provisions of the trust deed. The trustees are also responsible for safeguarding the assets of the charity and hen for taking reasonable sleps for the prevention and detection of fraud and other irregularities. On behalf of Ihe Truste6s rustee 2 July 2025
THE LITHGOW CHARITABLE TRUST Statement of Financial Activities for the year ended 31 December 2024 ReJtslct•d AtrIc Uhv•strktsd Unmtrkt•d Fundi Furbd¥ Fund¥ Funds 2024 2023 2024 2023 Total Funds 2023 Funds 2024 IncoTne tstsnèntirtome Dor¢b"ons recei 481 7,SLh) 473 4Bi 11,12S 473 25,374 53.625 25.374 Tot81 k£ome 53,625 25.374 7.981 473 61.606 25.846 Exyndkn C1ritsb ac0•8 82,927 8,698 2.587 91,62S 2.587 Total ENpetKlit(re 82.927 8.698 2,587 91.625 2.587 N1 IrKome befDre gains on Inlrts 129,3021 25.374 17171 (2,1141 130.Q191 23,260 IhealS8ed (bsSahn on Irstmn 12801 14551 12801 mo¥emert In 129.3021 25.374 19971 12,5691 130.2991 22,8D5 Total broNfOrward at 1 JanLAry 34.188 8.814 15,921 18.490 50.109 50.109 TotalfixKls carrf60 foTr¥ard al 31 December 4.886 34.188 14,924 15,921 19*10 50.109 The accompanying accounting policies and notes form an integral part of these accounts.
THE LITHGOW CHARITABLE TRUST Balan Sheet as at 31 Dernber 2024 Note 2024 2023 Flxed assets Inveslments 9.485 9,765 Current assets Cash at bank Creditors 11.637 (1,312) 41,156 (812) 19,810 50,109 Represented by: Unrestricted funds Reslricted funds 14,924 4,886 15,921 34,188 The accounts were ap roved b the Tr stees on 2 Jul 2025 and signed on their behalf by. rus ee The accompanying accounting policies and notes form an integral part of these accounts.
THE LITHGOW CHARITABLE TRUST Notes to the accounts for th8 year ended 31 Dember 2024 1 Accountlng pollcles Accounting convention The accounts have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charrties preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) issued on 16 July 2014 and the Finanal Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland (FRS1021, the Charrties and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (S¢otland) Regulations 2006 {as amended). The trust constitutes a public benefit entity as defined by FRS102. The accounts have been prepared under the historical cost convention except that inveslmenl assets are stated at mathet value. The principal accounting policies of the Charity are set out below. The policies have remained unchanged from the previous year. Income fmm investments Investment income comprises donations and dividends declared during the year on listed investments, and is included when receivable. Income fmm donations Donations are included in the statement of financial activittes when the tharty is entitled to the income, the amount Gan be quantified with reasonable accuracy and it is probable that the income will be re1ve. Expenditure Expenditure is recTr3nised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fijlly recovered, and is reported as part of the expenditure to which it relates.. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Indirect Gosts include governance costs which comprise those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked lo the strategic management of the charity. No indirect costs were incurred in the year.
THE LITHGOW CHARITABLE TRUST Notes to the accounts for the year ended 31 December 2024 1 Accounting policies (contd) Fund accounting Funds classified as unrestricted funds and are used for the furtherance and general objectives of the charity. Funds classified as restricted are grants reiVed for spending on specified purposes as laid down by the grantor. Investments Assets held for investment purposes are stated at market value at the balance sheet date. The market value is based on closing middle market price. All movements in value are shown in the Statement of Financial Activities. 2 Expendlture on charltable actlvltles 2024 2023 Accountancy Fees Bank Charges Donations 600 98 90,927 500 87 91,625 2.587
THE LITHGOW CHARITABLE TRUST Notes to the accounts for the year ended 31 December 2024 2024 2023 3 Fixed Asset Inveslments - Llsted Market value at 1 January 9,765 10.220 Net unrealised investment {loss)Igain {280) {455) Market value at 31 December 9,485 9.765 Historical cost at 31 December 5,495 5,495 Cost represents purchase price. 4 Unrestricted funds 2024 2023 At 1 January 15,921 18,490 Incoming resources 7.981 473 Resources expended {8,698) (2,587) Net (loss) I gain on investments (280) {455) At 31 December 14,924 15,921 Unrestricted funds comprise incoming resources received for expenditure on the general objectives of the charity.
THE LITHGOW CHARITABLE TRUST Notes to the accounts for the year ended 31 December 2024 Restrlcted funds 2024 2023 At 1 January 34,188 8,814 Incoming resources 53,625 25,374 Resources expended (82,927) At 31 December 4,886 34,188 Donations were received during the year to support Ukrainian refugees. These funds are restricted to assist local charities only in this effort. Th8 donations were enhanced with Glft Aid of £6,825. 6 Taxation The Charity has charitable status and is exempt from taxation. The charity is not registered for VAT and accordingly any irrecoverable tax is included in the expenditure concerned. 7 Trustees The Trustees receive no remuneration or expense reimbursemenls from the Charty either in this year or in previous years. The Trustees made donations of £32,500 including gift aid to the Charity.
Independent Examinetrs Report to the Trustees of The Lithgow CharitableTrust I report on the accounts of The Lithgow Charttable Trust for the year ended 31 December 2024 which are set out on pages 3 to B. Respective responsibilities of trustees and examiner The charity's trustggs are responsible for the preparation of the accounts In accordance with the tenns of the Chartties and Trustee Inveslment (Scotland) Act 2005 and the Charrties Accounts (Scotlandl Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (a to c) of the 2006 Accounts Regulations does not apply 11 is my responsibility lo examine the accounts as required under section 44{11 Icl of the Act and to state whether particular matters have come to my attention. Basls of Independent examlnerfs report My examination is carried out in accordance with Regulation 11 of the 20Cfj Accounts Regulations. An examination includes a review of the accounts.ng records kept by the charity and a comparison of the accounts presented wilh 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 ProdureS 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 Ihe accounts as to whether the accounts present a 'lrue and fair view. and the report is limited to those matters set out in the statement below. Independont examIne$ statement In the course of my examination, no matter has come to my attention.. which gives me reasonable cause to believe that in any material respect the requirements.. to keep accountlng records in accordan with Section 44(1)(a) of the 2W5 Act and Regulation 4 ofthe 2006 Regulations. and to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulation5 have not been met. or to which. in my opinion. attenllon should be drawn in order to enable a proper understanding of the accounts to be reached Name.. Relevant Professional Qualifi¢ationTrrofessional Body: ICAS Address.. Azets Audit Services, Titanium 1, lQng's Inch Place, Glasgow PA4 8WF Date.. July 2025