ACCOLNT ol-Ih¢ IN'TROXIISSIOXS of the Trustecs W.J. LiNDERV¥'OUD's Charithble Trnsi for Medical Rcscarch FROM.. TO.. 17ih jul ?023 18 Junc ?O?J (Trust M'ind-up> Trust¢¢s= C S Kennai Il's l.indsa% s Trusiees & Eieculors Limited LEI.. ? li8005iE8HOQMN41LI•3 Scottish ChariTh X'o. SC0016?- CSL'M-IL106215
i. J LlndLrn1)d'S Chariiable Trusl for.N.ledical Research rt of ihe TrUCeS for the riLMI ended l 8 June ?0?4 - TrUst M ind "T-he Trusiecs her¢ iih submit their report w ith th¢ accounis for ih¢ peri ended 18, Junc ?024. (Trusl M ind-up} The Trusl a5 establishcd under the W'ill of the lale '1111M John linden¥i)od dated 19th tk.cember 198U. 'l-he tunds shall IK hcld and administered b!. Trusiees for the b¢n¢fit of Nl¢diLal R¢searLh in EdiiiburLh dirvLted (o aLhiei'e pres"eniion of. ¥ur¢ fi)r (Trr relief Irom pain and illn¥ss. 1kn¢ dut) vl- lh¢ l-rusieLS is to pa) Dui ihe whole free income annuall) for this purpose according lo ihcir disLrction. The TrustCL5 noi% aciini dfL' of19a CanninL StrLX't. E.Llinhiir_' . anil l.indsa%s Trustees & l.xecutors Limited txith Statiiton. regiili?tinn% require ihe Trustees to prepare accounti for cach financial N"¢ar which gil'e a true and fair i'ieiN" of the state of atlairs of th¢ -I'rus1 and of the surplu> or dL'licil of ihe Trusi for that period. In preparing those accounts. th¢ Trusiies are required to.. seleLt suitable accounting TK>licies and then appl! them consistentl!: make judgements and csiimatC5 Ihat are responsible and prudent.. sldlL ii,IieiliLr appliiable 41CLOUllting siandards have been tollo,ed. subjcct to an) wnalcrial departUlLS disclosed and explained in Ihe aLcount.%' prepar¢ ih<' accounts on ihe qoinq conccrn basis unless li is inappropriaie to pre5Utnc that ihe l-rus( ill c()ntinue. 'rhc "l-rustCC5 arc rcsponsibl¢ for keepin4 propcr accouniing record5 'hICh disclose 'Ith reasonable acLuraLy al ani tim¢ ih¢ finanrial wsilion of Illl Triisl and in ¢nahle Ihem 10 ensure ihat Élie aLcounts complv Ith slaluior) rLg¥ullliions. The). 2re also responsible l-or Sar¢8rdin the assets ol-lhe Trust and hcnLL lor t4ikin r¢awnable steps for Ihe prei'eniion and deieciion (Il- fraud and ()thLr irrL"gulariiies. Donativns mad¢ durin¥ ihe Near in suptK)n of ihc obj11%¢5 of ihe ¢haritJ are detailed in the appendices. 1.he financial posiiion of the Trust is dis¢losed in the accounts. The Trust is recoEnised ai a charilN b¥ Inland Re%enue for taialion purposes. "Ihe Inland Revenue Charitv Number i) %COO16:i. A5 a r¢suli there is no liabiliD' to tatIOn on ani of ihe Trusi income. The C harits s regisled address is clo Lindsays. Caledonian Eichang¢. 19a L anning Sireei. Edinburgh 1143 Apprui"¢d b!, Ihe 'l-n151ees and Slgned on iheir behalf l)v C S Kenned¥. -Vate
W J Underwood's Charitable Trust for Medical Research Abslracl of account for year lo 18th June 2024 CAPITAL Credit balance al the close of last account Gain on realisalion of investments 123,157.42 18,000.00 141,157.42 Deducl".- Adminislralion Expenses (Examination Fees 2023 & Final Account) Investment Management Fees Agents, Capital Fees 250.00 3.000 00 5,080 80 8,330.80 Credit balance al the close of this account 132.826.62 REVENUE Credit balance at Ihe close of last accounl 5.397.30 Investment Income 5.658.49 11,055.79 Deduct.'- Charitable donations 5,000.00 Credit balance at the dose of this account 6,055.79 138.882.41 Represented by". Rathbones Lindsay Funds Income 630.89 138,251.52 138,882.41
W J Underwood's Testamentary Trust Receipts & Payment Account lor the year 118th June 2024 2024 2023 Receipts Investment Income 5,658.49 6.012 27 5,658.49 6.012.27 Proceeds from sale of inve51menls 139.931.70 10,871.54 Total Receipts 145,590 19 16,883 81 Payments Chari18ble Donations Adminislralion Expenses Inveslmenl Managemenl Fees Agenl's Fees 5.000.00 250.00 3,000 00 5.080.80 6,000.00 125.00 3,000.00 1,37160 13,330.80 10,496.60 Purchase of Inve51menls linc Equ81is81ionsl 0.00 8,027.28 Tol81 Payments 13,330.80 18,523.86 Surplus / Ideficil} lor year 132.2S9.39 {1,640.051
W J Undepwood's Testamentary Trust Statement of B818nce5 as al 23 May 2024 2024 2023 Investments Opening balance Purchases Sales Gain J Ilossl on sales 121,931.70 0.00 1139,931 701 18,000.00 123.476. 13 8,027 26 110,871 541 1,299.85 Closing balance 0.00 121.931.70 Market Value as at 16 July 0.00 130,928.00 Bank and cash in hand Opening balances Lindsay Funds Ralhbones 3.723.12 2.899 90 6,040 57 222250 6,623.02 132,259.39 8.263.07 11,640.051 add.. Surplus J Ideficitl Closirvj balance 138,882.41 6,623.02 Represented by.. Lindsay5 Funds Ralhbones 138.251.52 630.89 3.723 12 289990 138 882.41 6 623.02 All funds are nSIricted. Approved by the Trustees and siqned on their behalf
LINDSAYS WS WIL1LK215 W J unde Chari¢abk Trusl - STOCKS & SHARES. Book Values-........_ Puichasesl (Sales) Sales Proceeds Piofiv ILOBSI No ol shares Opening Clcwng Alllance Monthly Incorne Bond P Gross Inc now Liontrtsst Monthly Inc Bond P Ine 20105r24 sale 5.700 15.7001 5.977 47 5,977 47 15,977 471 15.977 471 4.704 21 11,273 261 5,977 47 15,977 471 4,704 21 11,273 261 Arttmls Fund Managers Global In¢ l DIS 20105r24 sale B.400 IB.4001 7,648 54 7.848 54 17.848 541 17,848 541 11,28692 3,418 38 7,848 54 17,848 541 000 11,26692 3,418 38 EJE---- Artemls Fund Manayers Corporate Bond F Inc 20105r24 sale 5,400 15,4001 4,803 29 4.803 29 14.803 291 14,803 291 4,964 22 1eo.93 4,803 29 14 803 291 0.00 4,964 22 180 93 Babcock & Brown Public Portnershlps Ltd 18105r24 sale 2,000 12,0001 2,069 43 2,069 43 12.069 431 I2.(9 431 2.539 01 489 58 2,069 43 12,Ce9 431 000 2.539 01 489 $8 Britlsh Amerkan Tobacco 16105r24 sale 9S 1951 2,501 35 2,501.35 12,501351 12.501 351 2.331 32 1170031 2,50135 12.501 351 000 2.331 32 1170031 Bny Mellon Fund Managers Ltd Newton Glb 17105r24 sale 4700 14.7001 7.950 77 7,950 77 17,950 771 17,950 771 10,651 61 2.700 84 7.950 77 17.950 771 10,651 61 2.700 84
European Asset 16105r24 sale 6,500 16,5001 6.809 41 6,809 41 16,809 411 16,809 411 5.798 65 11,010.761 6.809 41 16.809 411 000 5,798 65 11.010 781 Gore Street Energy Storage 16105Q4 sale 2,300 12.3001 2,804 38 2.804 38 12.804 381 12.804 381 1,419.25 11,385 131 2,804 38 12,804 381 000 1.41925 11,385 131 Greencoat UK Wind pk Ord 16105124 sale 4,000 14,0001 4.898 34 4,898 34 14,898 341 14 898 341 5.760 49 2.15 14,898 341 000 5.760 49 215 Guiness Asset Mana9ement 17105124 6ae 380 13801 8,242 23 8.242 23 18.242 231 18.242 231 11.60900 3,6 77 8,242 23 18.242 231 000 11,60900 3.366.77 Henderson Far East Inc Tst old. NPV shares 16105r24 sale 1.580 11.5801 4,367.78 4.367 78 14.367 781 14.367 781 3,729 15 1638 831 4,367 78 14.367 781 000 3,729 15 1638 631 Hendefson Intl Income Trus¢ 16105n4 sale 5.250 15,2501 6.555 11 6,555 11 16,555 111 16,555 111 8.868 56 2,313.45 6.555. 11 16,555111 000 8.868.56 2,31345 HICL Infrastructure 16105r24 sae 1,600 11,6001 2.860 80 2,880 80 12,860.601 12,880 801 1,975.71 1885 091 2.860 80 12 860.801 0.00 1,97571 1885 091
mercantt.le Investment Trust Ord 16105r24 sale 3.800 13.8001 3.976 12 3.976 12 13.976 121 13,976 121 8,987 00 5.010 88 3.976 12 13,976 121 000 8,987 00 5.010.88 M&G Securities Global Macro Bond PP Inc 17105r24 sal8 3,340 51S -3.340 518 3,520 49 3,509.53 13,509 531 13.509 531 2.675 09 1834 441 0000 3,520 49 13,509 $31 000 2.675 09 1834 441 Murray International Trust 16105Q4 sale 4,200 14,2001 8,258.59 8.258 59 18.258 591 18,258.591 10.692 82 2,434.23 8.258.59 18,258 591 000 10.692 82 2.434 23 Murray Income Trust 16m5124 e 650 16501 5.023 47 5.023 47 15.023.471 15,023.471 5,813 74 790 27 5.023 47 15,023 471 000 5,813 74 790 27 Royal London Managefs Ethical Bd Z GBP 17105r24 sale 4500 14,5001 5,15529 5.15529 15.155 291 15,155 291 4,477 95 1677.341 5,15529 15.155 291 000 4.477 95 1677.341 Sarasin Investment Funds 17105r24 sale 5500 15.5001 9,932 17 9,932 17 19,932 171 19,932.171 11.04400 1,117.83 9,932 17 19.932.171 000 11,04400 1,11183 Schroder Oriental Income Fund 18105r24 sabe 2.100 12,1001 3,974 79 3,974 79 13,974 791 13,974 791 5.674 15 1,699 36 3,974 79 13,974 791 5,674 15 1,699 36
Scottish AmerKan Inv Co 970 19701 4.943 80 4,943 80 14,943 801 16m5r24 14,943 801 4.991 23 4743 4,943.80 14,943 801 000 4.991 23 4743 T B Baiky Fund Managers 20105r24 sale 2500 12,5001 6,227.39 6.227 39 16.227 391 18.227 391 6,561 25 333.86 6,227 39 16,227 391 6,]25 333 86 Treasury 114% Gilt 3110112025 14107r23 purchase 15105r24 sale 3500 -3500 3,241 65 13,241 651 3.24165 13.241651 3.396 37 154.72 0.00 000 3.396 37 154 72 139,931.70 18.IXM).00
otes to ihe A¢counis Income from inN'estments is ¢rediied to the income and cxpendiiur¢ account in the vear in which re¢eiN'ed. No Trustee receil'ed an)" remuneraiion during the )'ear (?0?3 XTon¢). The investments are shO"n in the a¢¢ount at cost.
Appendices Ini'cstmi'nt InLiime I l-Au¥-11121 1)iiidL'nd 571KI 2? Xll 2• Xll ?11?I l)ii'JJL'nd Im 571NI 14-IX-21123 1)iiidLnJ i)n $71111 2? 1111 !X.I'Lh-?1174 1)ii'idLnd ijn 571MI 2119 (15 Artemli kuNIl C ciry) F IAI. CIA 44 C)7 C)7 ()M.21) .Iii-Apr.. ISh1.11<. Pybllr PortAerihlp.T l.¢d Ilrlilih Anwrli'un 54x1 54MI IlnJ,,VebiYI)H¥l (*LfihAI H'IM ()• 711 Xl 41 Funipeun .44¥ets 7in.11 1)5 Ily 1)5 Ilx 12 111) 2(7 45 12-Ai)r-. 552 Ctrrvéiii'fjoi UK M Ind 25-Ais¥-_ X7 X7.( 1172() A Tfel 124 71)
15 51) -1 l_Jun-21)24 1)iiidLnd i)n IXI
Appendices HendrFiJn Far EIL¥¢ lttc. Iru.¥l C)rdNPY 2X.NI)i'. 2f)-I'L'tk?1124 1)iiidLnd i)n 15YII i l.Augy.?11?I l)JiidL'nd i)n 52il) il)-NiTri. ?11!? IhiiJLnJ i)n 5?511 ?{).1.I71l?4 1)iiidLmd i)n 575{1 HIC'I. InJru.ftThLYre IX4C IH-Ai¥r-. ,Ven'oMille Tn¢%l C)rd l ()-Mdi- M&(.. l)plim¢TI Inrumv.Si¥rlinR PPJnc 19 85 Murnij. Inierndrivnal IrM.¥l 14.%LI)-2111 1 i)lK'idLd (151) 82XM 14.M41r-. 4(1 ()J 4<) 77 f>L) 71 X484 71) Xll 711.li 2¥-Ni)I'. .lehnider C)riental 4? (Xl I l.Miii- .S¢-olli¥h Co -17 47 -14 44 l().Xh
Appendices Ilf)-N(11-.2n?? l)iiidL'iid cm ?51MI 11!.1.L71)74 1)iiiJcnd on_ilXI l)l.Md%-?0?4 1)iiid¢Td ilti ?5iy TreasuF)'.l ?5% 1/4% 31fj125 59f,I 72-1kn..?11)I ITril%% IIiiLYL'NI 111-(kl.2111 1 l *i%tiiLYil in IILU 151. jlicni l¥S5 JnlLTr'I due ti)r ihe 42.2 Ilk.Jdn-?(124 PaimLmi In IIL'U iil-¥lJLrykl lniLT¢ duc (or thL" FK'Ii1Lt l)4111?1!! &nd U:111 l 1?4 -?11?4 1)d%in¢nl Ln IILU Lil"ilJ¥Y)I pri5 IIIILYes1 lor the 'ti4¢L I)41iiJ!! Jnd .1 lilJ_l/74 S,()5.4)
Appendtces 111?I SL'i)Ilan 5.IMM).IX)
Appendices C-4pital Pi'mL'nt Cthpitthl Admlni¥truti(In EApi'n¥L' 18-Jun-21124 MJil)u¥l Miiii4ick Iinol LiumilluilC)iI IL'L, IÉ) 1[1d up 11()-Ai)T-?1174 lttsihInL InKi%iniLnl Miinu¥LYiiL'iil l.LX iippliLiiblL II) iUI)Iial AKI'nt% C'¥pItl Tr1'1'¥ I l-Jwi-21124 V A-I. 1 !IW
NOTES 1 The Investments are shown in the account al valuation. 2 Income from Investments is credited to the Income and Expenditure account in the year In which It Is received. 3 No Committee Member received any remuneration during the peri¢xI {2023 none)
W J Underwood's Testamentary Trust for Medical Research Trustees, Report for tho ygar ended 18th June 2024 (Trust Wind-up) I report on the accounts of the charty for the penod ended 18th June 2024 ITru5t Wind-up The charity's trustees are responsible for the preparabon of the accounts In accordance with the terms of the Charity"es and Trustee Investmenl (Scotlandl Act 2005 and the Charities Accounts Iscotlandl Regulations 20(. The charity trustees consider that the audit requirement of Regulation 10111 Icll of the Accounts Regulations does not apply. 11 Is my responsibility lo examine the accounts as required under sectson 4411 Icl of the Act 2nd to stale whether particular maiters have Gome to my attention. My examination Is carned out In accordance with Regulabon 11 01 the Charities Accounts (Scollandl Regulations 2006 An examinaiion Includes a revbew ol the accounting records kept by the charity and a wmpanson of the accounts presented with those records 11 also Includes consideration of any unusual Items or disclosures In the accounts, and seeks explanations from the trustees conceming any such rnatters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently S do not express an audit opinion on the view given by the accounts. In the tourse ol my examination. no matter has corne lo my attention 1 which gives me reasonable ca4Jse lo believe that In any material respect the requirements lal lo keep accounting records in accordance wiltt Sec110n 44111 lal of the 2005 Aci and Regulation 4 of the 20(6 Accounts Regulations. and {bl to prepare accounts which accord wlh the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not been mel. or 2 to which in my opinion, attention should be drawn in order lo enable a proper understanding of the accounls lo be reached