LINDSAYS CHARII A141.F. I-RIISI. Accounts for ihe l'ear ended 31 Ikccmr ?074 Scotti%h Charit%, No. SC 002014 ?0?4 TRUS I I-'1--5=. Lindsa)'s Trusl¢c5 & F"xcculuTh l.imiied l.El= 21illOOI)115/8RI118F5681 CSLII.IN?1511
LINDSAYS CHARITABLE TRUST Scottish Charity Number SC002014 Trustees, ReFKJrt for the year ended 31 December 2024 The Tmstees are Lindsays Trustee5 & Executors Limited. a Company Lirnited by Guarantee. Ihe Directors of which are the partners In the firm ol L1ndsays LLP Caledonian Exchange. 19a Canning Street. Edinburgh. The Tmst was established by Lindsays Trustees Limited by Deed of Trust dated 25 January 1983, which Deed was regislered In the Books ol Council and Session on 10 February 1983. The hjnds are held and administered by the Trustees. The purposes of the Trusl are lo donate fund5 to charitable organisalions relating lo conseNation, the environment, wildlife, the arts as well as medical research The Trustees do have 8 wide discretion to pay the TrLJSt Income to such charitable organisations as they may select. The Trustees will normally support Scottish basett chanlies working In Scotland and lend to support smaller. less well known ¢harilie5 working In specialist fields During the year the Trustees made donatsons lo a number of chanties as detsiled In the appendi5 Slalulory regulations require the Trustees to prepare financial slalemenls for each financial year which give a true and fair view ol the Trust's financial aclivilses during the year and ol ils financial position al the end of the year In preparing these statements the Trustees are required lo" Select suitable aontIng policies and then apply them consislenlly Make judgements and eslimaies thai are responsiDle and prudenl Stale whethef applicable accounting standards have been followed subject lo any malenal departures disclosed and explained In the accounts Prepare the accounts on the going conGern basis unless Il Is Inappropriate lo presume that the Trust will continue The Trustees are reponsible for keeping proper accounh'ng reeords which disclose with accura¢y at any b.me the financial wsition of the Trust and to enable them to ensLJre that the accounts comply with statutory regulations They are also responsible lor safeguarding the assets of the TrLJsI and hence for taking reasonable sleps for the prevention and deleciior) of fraud and other iTregularilies The financial posilion of the Trust Is as discbsed in the Statement of Receipts and Payments and the Staletnenl of Balances. The Trust Is recognised by the Inland Revenue as a Charity for taxation purposes and Ihere is no liability to laxaliory on any of Ils Income or capital Approved by the Trustees and signed on Iheir behalf a Director of Lindsavs Trust@es Executors Limited
Lindsays Charitable Trust Abslracl of Account for year lo 31 December 2024 CAPITAL Credit balance at close of last account 293,745.83 Add.. Unlraced Balances donated lo the Charity 816.03 294.561 86 Deduct". Loss on Realisalion ol Investments Independent Examination Fee12023 Account) Investment Management Fees Agents, Capital Fees 1.854 96 125 00 3,160.39 1.10640 6,246.75 Credit balance al close ol this account of which, Investments al book value 288,315.11 284,951 58 Capital under-invested 3,363.53 REVENUE Credit balance al close of last account Investment Income 3,972.94 14,534.27 Add: 18,507.21 Deduct Payments lo Charities Agents, Revenue Fees 15.000 00 724 80 15.724.80 Credit balance at Close of this account 2,782.41 6.145.94 Represented by.. Ralhbones Capitsl Revenue 2.739.31 2.372 62 1.034 01 Lindsays Funds 6,145.94
Lindsays Charitable Twst Receipts & Payment Account for the year to 31 December 2024 2024 2023 Receipts Investment Incorne Unlraced Balances donated lo the Chanty 14,534 27 816.03 15,314.91 713.45 15.350 30 16.028 36 Proceeds from sale of Investments 60,683.73 12,743.81 Total Receipts 76.034 03 28.772.17 Payments Charitable Donations Administration Fees Inveslmenl Management Expenses Agent's Fees 15,000 00 125 00 3,160.39 1,831 20 29,000.00 12500 3.045 88 1.690.56 20,11659 33,861.44 Purchase of Inveslmenlslinc Equalisalion) 56.155 26 12,093 76 Total Payments 76.271 85 45,955.20 Surplus I Ideficill lor year 1237.821 117.183.031
Lindsays Charitable Trust Slalement ol Balances a5 al 31 December 2024 2024 2023 Investments Opening balance Purch3se51inc Equalisalion} Sales Gain I Ilossl on sales 291.335 01 .155.26 160 683 731 11.854 96 290,978 88 12.093 76 112,743.811 1,006 18 Closing balance 284.951 58 291,335 01 Market Value as al 31 December 349.984.00 345,315 00 Bank and cash In hand Opening balances Lindsays Deposit Ralhbones 340760 297616 18.745 69 4.821 1D 6 383.76 1237.821 23.566 79 117.183.03} add Surplus I Ideficill Closing balance 6,145 94 6,383.76 Represented by.. Ralhbones Fijnds Lindsays Funds 5.111 93 103401 2.976.16 3,407.60 6,145 94 6,383 76 All funds are unrestricted robid D Ine T-L,S'.Ll.Is anl s
LINDSAYS WS LIN21511 - STOCKS & SHARES- Book Values- Purchasesl (Sales) Sales Proceeds Profiv ILos$l No of shares Opening Closing Allianz Tgchnology Trust plc 3.500 994000 9.940 00 3.500 9.940 00 9,940 00 Artomis Fund Managers 11.000 9,784 48 9,784 48 11,000 9.784 48 9.784 48 Astrazeneca 125 6.727 45 6.727.45 125 6.727 45 6,727.45 Babcock & Brown Public Partnèrship5 Ltd 10.000 10.347.23 10,347.23 10.000 10.347.23 10.347.23 8HP 8illiton PIC 370 5.144 33 5,144 33 370 5.144 33 5,144.33
Blackrock Greater Europe 22105124 purchase 1,400 8.883 17 8,883.17 1,400 8.883 17 8,883.17 81uebay Funds Management 08105123 purchase 05107124 equalisalion 85 7,499.55 7,499 55 115981 85 7,499.S5 7,483 57 8ny Mellon A88Ot Management 6,000 9.579.26 9,579.26 6,000 9,579.26 9,579.26 British Am9rican Tobacco ord 25p 350 6.472.47 6,472.47 350 6,472 47 6,472 47 European Assets Trusl NVIReg'dl 2210S124 sale 10,000 110.0001 10.032. 12 10,032 12 110.032.121 110.032.121 8,993.20 11,038.921 10.032.12 110.032 121 0.00 8.993.20 11,038.921 F&C Comm9rcial Property Trust Ltd now BMO Comm9rcial Property Trust Ltd 12102124 sale 15,000 14.851 49 14,851.49 115.0001 114.851491 114,851 491 11.622.60 13,228.891 14.851 49 114.851491 0.00 11.622.60 13,228 891
GSK plc ord. 25p shares 356 5.663.38 5.663.38 3S6 5.663 38 5,663.38 Grgencoat UK Wind plc 3.400 5,212 20 5,212 20 3.400 5.212 20 5,212 20 Gulness Asset Management 476 8600 9.971 22 9.971 22 476.8600 9.971 22 9,971 22 Haleon 12102124 sale 445 14451 1.257.00 1.257 00 11.257 001 11.2S7 001 1.445 87 188 87 1.257 00 11.257 001 0.00 1.445 87 188 87 Henderson Far East Incom• Ltd 08111124 sale 4.450 4.450 14145.74 14,145 74 114,145 741 114.145 741 10.034.75 14.110.991 14145.74 114,145 741 0.00 10,034.75 14,110.991 Henderson European Focus Trust 22105124 sale 5,500 15,5001 498723 4.987 23 14.987 231 14,987 231 10,752.61 5.765 38 4.987 23 14 987 231 0.00 10,752 61 5.765.38
HICL Infrastructurg 2.900 5. 103.99 5, 103.99 2,900 510399 5,103.99 HSBC Holdings 12102124 sale 02105124 Sale 03106124 Sale 2.050 11.0251 15051 15201 14.757.11 14,757.11 {7.378 551 17.378 551 {3.635.301 13.635 301 13.743.261 13.743 261 6.334 50 11.044 051 3.510 52 1124.781 3.595.20 1148.061 14 757.11 {7.378 551 0.00 13.440.22 11.316.891 JP Moryan US Equity Income Fund 11000 4.098 07 4.098 07 11000 4.098 07 4.098 07 J P Morgan Global Growth & Income plc 3.200 10.037.28 10,037.28 3.200 10,037.28 10,037.28 Legal & General Group plc 12102124 purchase 2.900 7.049.90 7.049 90 2,900 7 049.90 7.049.90 Liontrust Investments Ltd Change lo Holding Liontrust Investments Ltd Sust Fut Monthly Inc Bd Holding after Change 8000 18.0001 6.903 19 16.903.191 6.903 19 16.903.191 6685 236 6.903 19 6.903 19 6685.236 6.903 19 6,903.19
Mercantile Invest Trust Ord 7.200 8.507 73 8.507.73 7.200 8.507.73 8.507.73 Murray Income Trust 2000 14.666 80 14.666 80 2,000 14.666 80 14.666 80 Murray Intomational Trust 4.175 10.103 50 10.103 50 4,175 10,103 50 10.103 50 National Grid plc 07106124 Take up Rights 700 204 7.230.13 7.230.13 1.315 80 1.315.80 904 7.230. 13 1,315 80 8.545.93 Natixis Intl Funds 15102124 purchase 2.000 12.170.00 12, 170.00 2.000 12.17000 12,170.00 Persimmon plc 350 4.938.50 4.938.50 350 493850 4.938 50 Polar Capital Technology Trust 22105124 purchase Change to holding Holding after Change11 0 for 11 350 13501 3.500 10,684 24 10.684 24 110.684 241 110,684 241 10,684 24 10,684 24 3,500 10.684 24 10,684 24
Renewables Infrastructure Group 8,000 10.674 54 10,674.54 8,000 10.674 54 10.674.54 Rio Tinto plc 08111124 purchase 170 8,568.58 8,568.58 170 8,568 58 8,568.58 Shell ple ord. É0.07 shares 02105124 sale 632 11521 10,428 01 10,428.01 12.508.001 12.508.001 439448 1.886 48 480 10,428.01 12,508.001 7,920.01 4.394 48 1,886 48 Royal London Unit Trust Managers Ethlcal Bond Z 8,600 9.901.52 9.901.52 8,600 9.901.52 9.901.52 Sarasin Investment Funds 7,500 14.11904 14.119.04 7,600 14.11904 14.119.04 Scottish American Investment Co Ord 3,000 7.711.90 7,711.90 3,000 7,711.90 7,711.90 ABRDN PLC 23.000 14 605.00 14.605 00 23,000 14,605.00 14,605.00
Treasury 114•A Gilt 3110112025 9300 8.434 07 8.434 07 9300 8 434.07 8.434 07 Unilever plc 115 499903 4.999 03 115 499903 4.999 03 Totals 284.951 58 60.683 73 11.854 961
Income Investment Income Artemis Fund Monqgers 01102124 Dividend on 11000 30104124 Dividend on 110(K) 31107124 Dividend on Ilc 31110124 Dividend on 11((Kl Astrozeneco 25103124 Dividend on 12S 09109124 Dividend on 125 8abcock & Brown Public Partnership 13106124 Dividend on 10000 23112124 Dividend on 100(K) 8HP Billiton 03104124 Dividend on 370 07110124 Dividend on 370 81ackrock Greoter Europe 19106124 Oividend on 1400 20112124 Dividend on 1400 8ny Mellon Asset Monogement 01103124 Dividend on 6000 31105124 Oividend on 6000 31108124 Dividend on 6(KKI 30/IIJ24 Dividend on 6000 81ueboy Funds M¢7nqgement 05107124 Dividend on 85 02110124 Dividend on 85 British American Tobocco Ord 25p 01102124 Dividend on 350 10105124 Dlvidend on 350 02108124 Dividend on 350 01111124 Dividend on 350 Europet7n A55ets Trust NVIReg'dJ 31101124 Dividend on 10000 30104124 Dividend on 10000 Bt71t7nced Commerci¢71 Prop Trust 01102124 Dividend on 15000 GSK PI 01101124 Dividend on 356 11104124 Dividend on 356 11107124 Dividend on 356 10110124 Dividend on 356 137.85 139.12 140.44 141.79 195 00 97.00 407.00 418.00 208.30 209.34 24.50 73.50 81.47 103.93 166.39 85.80 78.35 89.59 202.02 206.08 206.08 206.08 147.50 147.50 66.00 49.84 56.96 53.40 53.40
Greencoot UK Wind plc 29102124 Dividend on 3400 31105124 Dividend on 3400 30108124 Dividend on 3400 29111124 Dividend on 3400 Gulnness Asset Monogement 31101124 Dividend on 476.86 31107/24 Dividend on 476.86 Henderson For Eost Income 26102/24 Dividend on 4450 03106124 Dividend on 4450 02109124 Dividend on 4450 03112124 Dividend on 4450 Henderson Europeon Focus Trust 05102124 Dividend on 5500 HICI Infrustru¢ture Co ltd 04104124 Dividend on 2900 04104124 Dividend on 2900 28/06124 Dividond on 2900 28/06124 Dividond on 2900 30/09124 Dividend on 2900 30109124 Dividond on 2900 31/12124 Dividond on 2900 31112124 Dividcnd on 29DO HSBC Holding5 PIC 25104124 Dividend on 1025 27106124 Dividond on 520 27106124 Dividend on 520 J P Morggn Global Growth & Income 05101124 Dividend on 3200 16104124 Dividend on 3200 03107/24 Dividend on 3200 07110124 Dividend on 3200 J P Morgan Asset Monager5 31101124 Dividend on 11000 30104124 Dividend on 11000 31107124 Dividend on 11000 31110124 Dividend on 11000 Legal & General Group plr 06106124 Dividend on 2900 27109124 Dividend on 2900 116.62 85.00 85.00 85.00 107.29 170.14 271.45 271.45 275.90 275.90 167.75 24.49 35.25 23.41 36.62 7.77 51.97 46.00 13.73 254.49 85.75 40.83 147.52 147.52 147.52 182.40 ioo.io 107.80 99.00 98.60 424.27 174.00
Liontrust Investments Ltd 03101124 Dividend on 8000 01102124 Dividend on 8000 28102124 Dividend on 8000 31103124 Dividend on 8000 30104124 Oividend on 8000 31105124 Dividend on 8000 30106124 Dividend on 8000 31107124 Dividend on 8000 31108124 Dividend on 8000 30109124 Dividend on 8000 31110124 Dividend on 8000 03112124 Dividend on 8000 Mercantile Invest Trust Ord 01102124 Dividend on 7200 16105124 Dividend on 7200 01108124 Dividend on 72(10 01111124 Dividend on 72110 Murroy Income Trust 14103124 Dividend on 2000 13/06124 Dividend on 2000 12/09124 Dividend on 2000 J2/12124 Dividend on 2000 Murrtsy Internotlonol Trust plc 16/02124 Dividond on 4175 20105124 Dividend on 4175 16108124 Dividend on 4175 18/11124 Dividend on 4175 Notlonol Grld plc 11101124 Dividend on 700 19107124 Dividlind on 700 Persimmon plc 12107124 Dividend on 350 08111124 Dividend on 350 Renewuble5 Infrstructure GRP NPV Ord 03101124 Dividend on 8000 03104124 Dividend on 8000 02/07124 Dividend on 8000 02110124 Dividend on 8000 Shell B Ord Euro 0.07 25103124 Dividend on 632 24106124 Dividend on 480 23109124 Dividend on 480 19112124 Dividend on 480 32.00 14.75 28.00 28.00 28.00 28.00 28.00 28.00 28.00 28.00 28.00 28.00 104.40 237.60 108.00 108.00 190.00 190.00 200.00 190.00 100.20 179.53 104.38 104.38 135.80 273.84 140.00 70.00 143.60 143.60 149.40 149.40 170.01 129.31 125.52 129.74
Royol London Sterling Extrn Yield BondA 02101124 Dividend on 86CKI 28103124 Dividend on 8600 28106124 Dividend on 8600 30109/24 Dividend on 8600 Sorosin Investment Trust 27102124 Dividend on 7500 28105124 Dividend on 7500 28108124 Dividend on 7500 27111124 Dividend on 7500 Scottish Americon Inc Co 11104124 Dividend on 3000 20106124 Dividend on 3000 19109124 Dividend on 3000 12112124 Dividend on 3000 Aberdeen Stondord Fund Monogers 28103124 Dividend on 23000 28106/24 Dividend on 230(KJ 30109124 Dividend on 230 Unilever plc 22103124 Dividend on Ils 07106124 Dividend on Ils 06109124 Dividend on Ils 06/12124 Dividend on 115 Treosury 1/4% Gilt 31/01/2025 31101124 Gross Interest 01108124 Gr055 Interest Rothbones Funds 25103124 Gr055 Accrued Interest 25106124 Gross Accrued Interest 25109124 Gross Accrued Intere51 23112124 Gr055 Accrued Interest Lindsoys Funds 08101124 Payment In lieu of client gro55 interest due for the period 04102122 to 02101124 02104124 Payment in lieu of client 8r055 interest due for the period 04/02122 to 31103124 03107124 Payment in lieu of cltent gr055 interest due for the period 04102122 to 30106124 02110124 Payment in lieu of client gross interest due for the period 04102122 to 30109124 95.12 95.55 101.26 98.32 96.66 95.93 149.72 104.72 114.(X) 103.50 106.50 lii.(K) 134.02 144.74 125.03 41.94 42.25 42.50 42.12 11.63 11.63 0.39 8.46 14.50 12.26 145.39 58.11 71.62 99.17 14.534.27
Revenue Payments Payments to 8eneJiciories Big Hearts Community Trust Govs of Dean Orphanage & Cauvins Trust The Woodland Trust Maggie's Scottish Refugee Counc41 3.0(M).(K) 3,000.00 3,000.00 3,000.00 3.000.00 15.000.00 Agents Revenue Fees 31112124 Fee for administration of the trust for the year to date. applicèble to revenue 31112124 VAT at 20% 120.80 724.80
Capital Receipts 15101124 Untraced Clients balance donated to Charity 31101124 Untraced Clients balance donated io Charity 31101124 Untraced Clients balance donated io Charity 12102104 Untraced Clients balance donated to Charity 16102/24 Untfaced Clients balance donated to Charity 27/02124 Vntraced Clients balance donated to Charity 27/02124 Untraced Clients balance donated to Charity 27102/24 Untraced Clients balance donated to Charity 27102/24 Untraced Clients balance donated to Charity 15107124 Untraced Clients balance donated to Charity 07108124 Untraced Clients balance donated to Charity 05109124 Untfaced Clients balance donated to Charity 19109124 Untraced Clients balance donaied to Charity 19109124 Untraced Clients balance donared to Charity 14111124 Untraced Clients balance donated to Charitv 12112124 Untraced Clients balance donated to Charity 342.84 19.80 41.73 28.14 30.00 20.00 22.00 48.00 20.68 37.47 84.10 3.96 22.00 44.00 816.03
Capital Payment5 Capital Administration Expenses 22102124 lee for examination of account 31112123 125.CKJ 125.00 Investment Management Fèès OIIOL/24 Rathbonos Management Fee 06104124 Rathbones Management Fee 01107124 Rathbones Management Fee 01110124 Rathbones Management Fee 776.95 777.35 801.96 804.13 3.160.39 Agents Capital Fees 31112124 Fee for admini51ration of ihe iiust for Ihe year to date, applicable to capital 31112124 Vat at 20% 922.00 184.40 1.106.40
NOTES 1 The Investments are shown in the account at 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 remuneralion dunng the period {2023 none).
Independent Examiners Report to the Trustees of Lindsays Charitable Trust I report on the ac£ounls of the charity foi the 11¢mI ended 31 st December 2024 The chairty's Iruslees are responsible for Ihe pparatIOn of the a¢x£)unls in aCCoance th Ihe lemis of the Charitie5 and Trustee Investment (Scolland) Acl 2005 and Ihe Charilies Accounls Iscollandl Regulations 2006 las amended). The chamy ITU51ees consider that Iheauttrt requirement ol Regulation 10{11 Idl of the 2006 Accounts Regulations does nol apply. It is my responsibility lo examine Ihe accounts as required urbder section 4411 Ic} of Ihe Act and lo stale whelher particular matters have come to my attention. My examinalion is caiiied out in accordance with Regulalion 11 01 the Charities Accounls (Scolland) RegulalioThs 2006 An exèminalion includes a review ol Ihe accounting records kept by the charrty and a cofflpari50n of the accounts presenied with those recA)rd5. 11 also indu(Jes consideration of any unusual Ilerns or discjosufes in the accounts. 2nd seeks explanations fiom the InJstees concerning any such rnatters The procedures undertaken do nol provide all Ihe evidence that would be required in an audit. and consequently I do not express an audit onIOn on the view given by the accounls. In the course of my examination. no fflattef has come lo my allenlion 1 which gives me reasonable cause lo believe Ihal In any material set the requirernenls". la) to keep accounting COrS in 8ccordance wilh Section 441111a} of Ihe 2005 Aci and Regulalion 4 of the 2006 Accounts Regulations. and (b} lo prepafe accounts which accord wth Ihe accounting record5 and comply with Regulation 9 of Ihe 2006 Accounts Regulation5 have not been mel. or 2 lo which. In my opinion. allenlion should be dravffl in order to enable a