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The William Brown Nimmo Trust
Annual Report & Accounts
For the year ended 15 May 2025
Charity Number: SC001671
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The William Brown Nimmo Charitable Trust
Report of the Trustees for the year ended 15 May 2025
The Trustees have pleasure in presenting their report with the financial statements of the Trust for the year ended 15 May 2025.
Legal Status
The Charity operates under the name of The William Brown Nimmo Charitable Trust. The Charity is recognised by The Office of the Scottish Charity Regulator as a Scottish Charity (number SCO01671). The Registered Office is situated at 3 Lyne View, West Linton, Scottish Borders, EH46 7EQ
Principal Activity
The principal activity of the Trust in the year under review was that of administering the Trust funds as set out by the William Brown Nimmo Charitable Trust Order Confirmation Act 1923 (as amended).
Principal Advisers
Bankers: Royal Bank of Scotland Edinburgh Leith Branch 2 Bernard Street Leith Edinburgh EH6 6PU
Trustees
The Trustees during the year under review were: CHECK
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Trustee Appointment and Training
The Trustees all hold office ex officio. There is accordingly no formal appointment of Trustees. They are deemed to become Trustees on taking up their positions.
New Trustees are briefed by their organisation or the Secretary on the Trust and its administrative procedures and have access to or are given copies of the governing document, the Rules and Regulations of the Trust and recent Trust papers through them. By virtue of their positions, the Trustees are all holders of several ex officio Trusteeships and so are generally aware of a Trustee’s responsibilities.
All present Trustees and any new Trustees receive a copy of OSCR’s Guidance for Charity Trustees.
Organisation Structure
The Charity operates as The William Brown Nimmo Charitable Trust, acting under the auspices of The William Brown Nimmo Trust Order Confirmation Act 1923 but traces its origins to the end of the 19" Century.
After a life dedicated to industry and thrift, the late William Brown Nimmo died on 10" September 1899. Having made provisions for his family and other worthy causes he directed in his Will dated
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30'" May and registered in the Books of Council and Session on 5" October both 1899 that the. monies held in his estate should be kept in Trust in perpetuity to give assistance by way of small annual payments to “the well doing industrious and deserving women married or single or widows of the poorer classes not otherwise sufficiently provided for whom, his Trustees might deem proper objects for such payments.......... declaring that no-one should be eligible who could earn by her own industry or had otherwise available an income of £30 and upwards”. William Brown Nimmo then explained that the object he had in view was the establishment of a Trust for the disposal of a series of what might be considered “small prizes for the well doing” and that he wished the Trust to be for “the greatest good or greatest number”. To overcome certain ambiguities and administrative difficulties the Trustees subsequently promoted The William Brown Nimmo Charitable Trust Order 1923 by which the Trustees were incorporated and the fund properly constituted and regulated by private Act of Parliament. That order was amended by The William Brown Nimmo Charitable Trust (Amendment) Order 1948 to meet the change in the value of money and adjust the eligibility of applicants.
The 1923 Trust Order included Rules and Regulations which laid down in detail how the Trust was to be managed and which were amended by Petition to the Court of Session and Sheriff Court of Lothian and Borders in Edinburgh in 1986.
Essentially after all this evolution the Charity is a grant-making Trust where the Trustees invite new applications for a grant in June and July each year. All new applicants are interviewed by the Trust Lady Visitor who reports to the Trustees on the individual circumstances of each new applicant.
The Trustees meet annually in October to conduct the formal Trust business including selecting the applicants to be accepted and received a grant in November.
The day to day administration of the Trust is carried out by the Secretary of the Trust, Rev Dr John S May.
Charitable Objectives
The Trustees invest the funds held by them to produce income which is distributed in small annual grants to women in need aged over 50 who were born in and permanently live in Leith or Edinburgh and who are ona low income.
Strategic Aims
The Trustees aim, respecting the wishes of William Brown Nimmo that the grants from the Trust should be considered “small prizes” for the “greatest number”, is to assist between 100 and 120 ladies each year.
Achievement and Performance Review During the year the Trust continued to make payments to a large number of beneficiaries. For the year ended 15 May 2025 the total paid out in grants amounted to some £30,800 representing 77 grants of £400 each.
At the moment, when administration costs are taken into account, the amount paid out in grants enables the Charity to achieve a surplus/deficit for the year that is approximate to a break even position.
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Financial Review
The results for the year and the financial position of the Trust are as shown in the annexed financial statements.
Risk Management
The Trustees have examined the major strategic business and operational risks which the Charity faces and confirms that systems in place enable regular reports to be provided so that the necessary steps can be taken to minimise any potential risks. The Charity has a large portfolio of stocks and shares which are professionally managed for them.
Reserves Policy
The Charity’s policy on reserves is to hold sufficient funds in reserve to ensure the Charity’s ability to fulfil its charitable objectives. The Trustees only spend the income earned by their investments on the grants and the costs as they are not permitted to erode the capital sum represented by the market value of investments. Consequently the Trustees just hold a small reserve fund to be able to maintain the grant level despite fluctuations in their income. Statement of Trustees Responsibilities Legislation application to charities in Scotland requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity’s financial activities during the year and of its financial position at the end of the year. In preparing the financial statements which give a true and fair view the Trustees should follow best practice and:
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Select suitable accounting policies and then apply them consistently;
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- Make judgements and estimates that are reasonable and prudent; - State whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operating.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
APPROVED BY THE TRUSTEES
AND SIGNED ON BEHALF OF THE TRUSTEES
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Date scccisyeptvesevettesenc cassveviessireestvvessennsesenssncuess
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Independent Examiner’s Report to the Trustees of The William Brown Nimmo Trust
| report on the accounts of the charity for the year ended 15 May 2025 which are set out on pages 6 to 7.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.
The charity trustees consider that the audit requirement of Regulation 10 (1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with 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 procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | 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 attention.
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which gives me reasonable cause to believe that in any material respect the requirements:
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e to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
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e to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) have not been met, or
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- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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The William Brown Nimmo Trust
Notes to the Financial Statements For the year ended 15 May 2025
- Accounting Policies
Accounting convention
The financial statements have been prepared under historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008), the Charities and Trustee Investment (Scotland) Act 2005 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Accounting Policies
The Accounts are prepared under the historical cost convention and in accordance with applicable accounting standards in the United Kingdom and the Charities Statement of Recommended Practice (FRS 102). Investment income is recognised on a due and payable basis. Grants are made in accordance with the objectives of the Trust. Investments are included in the Accounts at market value at the year end date. The unrealised gain or loss on investments is taken to the Statement of Financial Activities. Realised gains or losses are taken to the Income and Expenditure Account and the Statement of Financial Activities. The Trust is not registered for VAT and accordingly expenditure includes VAT where appropriate.
2. Trustees Remuneration
There were no Trustees’ remuneration or other benefits for the year ended 15 May 2025.
Trustees’ Expenses.
There were no Trustees’ expenses paid for the year ended 15 May 2025.
3. Governance Costs
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Examiner
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15.5.2025 15.5.2024
£ £
500
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- Fixed Asset Investments
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Market Value Listed Investments £ a ae AsAdditionsat 15 May 2024 ; 1,106,312129,805 Disposals oe ee (131,506) } Book profit (loss) on sales (9,579) | (28,136) a 1,066,896) | There were no investment assets outside the UK. Investments with a current Market Value in excess of 5% of total:Gemcap Investment Atlantic 56,101 | | SPDR S&P US Dividend Aristocrats 61,018 | - Blackrock Continental 63,518 ae 180,637 | —
- Creditors: Amount falling due within one year
15:5.25 15.5.24 £ £ Auditors’ / Examiner’s remuneration (2022) 500 0 Gilson Gray (Professional fees) 0 2,000
6. Movement in Funds - £
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Opening Incoming | Investment | Transfer Outgoing Total
Balance Resources | gain/Losses | between Resources 2025
Restricteda es1,122,904 | Nil (37,715) (5,310) aNil |
Funds
Unrestricted_ oo69,854 ee47.418 n/a 5,310 45,569 77,013
TotalFundsFunds|1,192,758 | 47,418 |—_‘(37,715) =| 45,569 | 1,156,892 | ||
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The William Brown Nimmo Charitable Trust Statement of Financial Activities
Year ended 15 May 2025
| Year endedended 15 May 20252025 | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| Funds | Funds | Funds | Funds | |||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Income | ||||||
| Dividends | 44,652 | - | 44,652 | 45,575 | . | 45,575 |
| Bank Interest | 2,766 | : | 2,766 | 773 | - | 773 |
| Total Income | 47,418 | - | 47,418 | 46,348 | : | 46,348 |
| Expenditure | ||||||
| Grant Payments (net) | 29,640 | - | 29,640 | 27,720 | - | 27,720 |
| Investment Manager's Fees | 5,471 | - | 5,471 | 5,790 | - | 5,790 |
| Professional Services | 2,100 | - | 2,100 | 60 | - | 60 |
| Visitor | 1,813 | . | 1,813 | 1,760 | - | 1,760 |
| Secretary | 4,000 | 4,000 | ||||
| Examiner's Fee | 500 | : | 500 | 500 | : | 500 |
| Treasurer | 1,500 | - | 1,500 | 1,500 | - | 1,500 |
| Sundry | 545 | 545 | ||||
Total Expenditure |
45,569 | - | 45,569 | 37,330 | - | 37,330 |
| Net income before:- | 1,849 | - | 1,849 | 9,018 | - | 9,018 |
| Realised gain/(loss) on sale ofinvestments | 0 | (9,578) | (9,578) | 0 | 12,415 | 12,415 |
| Net income | 1,849 | (9,578) | (7,729) | 9,018 | 12,415 | 21,433 |
| Unrealised gain /(loss) | (28,136) | (28,136) | 30,514 | 30,514 | ||
Transferbetween funds |
5,310 | (5,310) | - | 54,401 | (54,401) | 0 |
| Net movement in funds | 7,159 | (43,024) | (35,865) | 63,419 | (11,472) | 51,947 |
| Reconciliation offunds | ||||||
| Total funds brought forward | 69,854 | 1,122,904 | 1,192,758 | 6,436 | 1,134,376 | 1,140,811 |
| Totalfundscarriedforward | 77,013 | 1,079,880 | 1,156,893 | 69,854 | 1,122,904 | 1,192,758 |
The William Brown Nimmo Charitable Trust
Balance Sheet as at 15 May 2024
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|Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|Funds|Funds|Funds|Funds|Funds|Funds|
|15.5.25|15.5.25|15.5.25|15.5.24|15.5.24|15.5.24|
|£|£|£|£|£|£|
|Fixed|Assets|
|Investments|-|1,066,896|1,066,896|-|1,106,312|1,106,312|
|Total|—|Sh|FF|aed|
|Fixed|Assets|-|1,066,896|1,066,896|-|1,106,312|1,106,312|
|a|he|rl|i|SSes|
|Current|Assets|
|Cash|at|Bank|75,547|75,547|
|Cash|held|by|solicitors|-|-|-|69,189|:|69,189|
|Cash|with|Investment|Managers|1,966|12,982|14,948|2,664|16,592|19,256|
|SSA|el|aSa|es iets|&|
|Total Current|Assets|nt77,513|12,982|90,455 ie a71,853|16,592|ar88,445|F|
|Liabilities|
|Creditors|falling|due|within|one|year|ee(500)|-|(500)||eebe(2,000)aie|-|(2,000)heed. ||
|Net|Current|Assets|77,013|12,982|89,995|69,853|16,592|86,445|
|ee|bla|a|tatia|AD|||
|Creditors|falling|due|after|more|than|one|year|-|-|>|:|:|-|
|ee|SSes|
|Net|Assets|77,013|1,079,878|1,156,891|69,853|1,122,904|1,192,757|
|The|funds|of|the|charity|
|Restricted|funds|1,079,878|1,122,904|
|Unrestricted|funds|77,013|69,853|
|Total charity|funds|1,192,757|
|The financial statements were approved by the Board of Trustees on 28|deces|asi|baee|202|* and signed||
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Trustee
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