2025-04-05-accounts - Miss E C Hendry Charitable Trust

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MISS E C HENORY CHARITABLE TRUST

Report of the Trustees for the year ended 5 April 2025

The Trustees present their annual report and financial statements of the charitable trust for the year ended S April 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities and Trustee Investment (Scotland) Act 2005, The Charities Accounts (Scotland) Regulations 2006(as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102) (Effective 1 January 2019)

Objectives and activities

The purpose of the Trust as laid down in the Trust Deed is to apply the income and capital of the Trust funds for charitable purposes by the payment at such times as they may decide of &rants to such charities as they may select including for consideration but without prejudice to the generality; Princess Louise Scottish Hospital for Limbless Sailors and Soldiers (now Erskine); The Thistle Foundation; The Church of Scotland for any of their missions and work and any of their congregations including that of Cardross Parish Church; The National Trust for Scotiand; the People’s Dispensary for Sick Animals;The Guide Dogs for the Blind Association; The Scottish Society for the Prevention of Cruelty to Animals; The Girl Guides Association; The Salvation Army; Arthritis Research UK, Chesterfield, Derbyshire; The Osteopathic Trust Limited, Docker House, London; Perennial (formerly the Gardeners Royal Benevolent Society), and other charitable bodies as provide for: (a) the maintenance and expansion of Christian churches and organisations (b) the maintenance, relief, medical treatment ar care of the sick, the blind, the deaf, dumb, the aged or the poor

(c} the education or training or upbringing of the young and

(d} the preservation of places and buildings of historic or artistic interest.

Grant making policy

Grants are paid normally from the trust income to a wide variety of charitable bodies (not individuals) in response to applications received and in implement of the trust purposes.

Achievements and performance

Ouring the year to S April 2025 the trustees awarded 109 grants totailing £72,834, ranging from £500 to £8,500.

During the year to S April 2024 the trustees awarded 91 grants totalling £64,500, ranging from £500 to £8,500.

The aim of the trustees each year is to spend as much of the disposable income as possible in the payment of grants to a wide variety of charities within the trust purposes.

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MISS E C HENDRY CHARITABLE TRUST

Report of the Trustees for the year ended S April 2025 (Contd.}

Financial Review

The funds of the Trust were established by the transfer of investments that belonged to Miss Hendry and the funds are invested under professional advice.

Investment income arising during the year totalled £81,431 and Charitable Donations of £72,834 were made.

Ouring the year the Trustees met twice and decided upon the charitable disbursements.

investment policy and performance

The investment policy is to achieve a balance between income and capital growth whilst using investments which fall within the medium risk category. There are no specific investment restrictions in the trust deed. The investments are reviewed regularly by Barclays Wealth and the trustees.

When the investments are reviewed their value is compared with their value at the immediately preceding valuation and with various Stock Market indices (the FT UK Gilts All Stocks Index, the FTSE All Share Index and the APCIMSs Balanced Index). These financial statements reflects a rise in value of the Trust's investment portfolio which is in line with the rise in global stock markets.

Risk Management

The trustees have considered the major risks to which the charitable trust is exposed and have reviewed those risks and established systems and procedures to manage those risks.

Reserves policy

The Trustees retain sufficient reserves to ensure that the Trust is able to meet its overheads and objectives.

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MISS E C HENDRY CHARITABLE TRUST

Report of the Trustees for the year ended 5 April 2025 (Contd.)

Structure, governance and management

The Trust is an unincorporated charitable trust established in 1969 by the late Miss Elizabeth Christian Hendry of Geilston House, Cardross, Dunbartonshire under a Declaration of Trust dated 3rd October and registered in the Books of Council and Session on 17th October 1969

Miss Hendry appointed three Trustees and the Declaration of Trust provides for the assumption of additional trustees. Miss Hendry died on 4th July, 1989. During the financial year reported on the Trustees were: -

a :: a partner of Mitchells Roberton until 31 March 2014. The present trustees have wide experience in the administration of charities and they are all familiar with the trust provisions. The day-to-day administration of grants and the processing of grant applications were handled by Mitchells Roberton prior to consideration by the trustees Decisions are made, first, at trustees’ meetings, which are held twice a year, and, secondly, after discussion among the trustees at other times. Their decisions are recorded in Trust Minutes

Report of Trustees

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2025

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information
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Principal Office and Solicitors

Mitchells Roberton Solicitors George House rth Hanover Street Glasgow G1 2AD

$C002738

ndependent Examiner

Armstrong Watson LLP Accountant

G41 1H)

Bankers

Santander

rvestment

Barclays

1-4 Place I asgow OS

MISS E C HENORY CHARITABLE TRUST

Report of the Trustees for the year ended S April 2025 (Contd.}

Trustees’ responsibilities in relation to the financial statements

The Trustees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom generally Accepted Accounting Practice).

Charity law requires the Trustees to prepare or have prepared on their behalf Accounts for each financial year which give a true and fair view of the state of affairs of Miss Hendry’s Trust and of the income and expenditure of the Trust for that period. In preparing those Accounts, the Trustees are required to:-

1 select suitable accounting policies and then apply them consistently;
2 observe the methods and principles of the Charities SORP;
3 make judgements and estimates that are reasonable and prudent;
4 state whether applicable accounting standards and statements of recommended practice have been followed, subject to any materia! departures disclosed and explained in the financial statements;
5 prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable trust will continue in existence.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Miss Hendry Charitable Trust and to enable them to ensure that the accounts comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the Miss Hendry Charitable Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

Approved by the Trustees on:

L Novem eek 2625

MISS € C HENDRY CHARITABLE TRUST

		Statement of Financial Activities	Statement of Financial Activities	Statement of Financial Activities
		forthe	yearended 5 April	2025
		Note	Unrestricted	Endowment	Total	Total
			Funds	Funds	Funds	Funds
					2025	2024
	:		£	£	£	£
Income and endowments fram
Investment income		3	81,431		81,431	77,591
Total income			81,431 $1,431 77,591 a ae
Expenditure on:
Ralsingfunds
investment management costs		4		7,940	7,940	7,492
Charitable activties
Charitable donations		5	72,834		72,834	64,500
Supportcosts		6	5,262	5,262	10,524	11,011
Cost ofgrantmaking			78,096	5,262	83,358	75,511
Totalexpenditure			78,096	13,202	91,298	83,003
Net (Expenditure) before Gains/(Losses)
on investments			3,335	{13,202)	(9,867)	(5,412)
Net Gains/(Losses)
oninvestments		&{c}		{66,701)	(66,701)	156,116
NetIncome/NetMovement in Funds			3,335	(79,903)	(76,568)	150,704
Reconciliation of funds:
Total Funds brought forward			59,807	2,573,792	2,633,599	2,482,895
TotalFundscarried forward			63,142 2,493,889 2,557,031 2,633,599 ee IS SaaS

MISS E C HENDRY CHARITABLE TRUST

Balance Sheet as at 5 April 2025

	Note	Unrestricted	Endowment	Endowment	Total	Total
		Funds		Funds	Funds	Funds
					2025	2024
Fixed assets:		13		£	£	£
Investments	8(b)			2,544,975	2,544,975	2,620,042
Cash held for investment				5,554	5,554	5,072
Total Fixed Assets				2,550,529	2,550,529	2,625,114
Current assets:
Cash at bank and in hand		66,886		(50,896)	15,990	17,287
Total Current Assets		66,886		(50,896)	15,990	17,287
Liabilities:	9
Creditors falling due within one year		(3,744)		(5,744)	(9,488)	(8,804)
NetCurrent assets		63,142		(56,640)	6,502	8,483
Net assets		63,142 8	2,493,889 SS		2,557,031	2,633,599 een
The funds of the charity:	10
Endowment fund				2,493,889	2,493,889	2,573,792
Restricted income Funds						:
Unrestricted income funds		63,142			63,142	59,807
Total Charity funds		63,142 u_oOOoooSS————————		2,493,889 2,557,031 2,633,599 ee

The notes at pages 8 to 15 form part of these accounts

Approved by the Trustees on:

| becemAtAA 2025fo

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MISS E C HENDRY CHARITABLE TRUST
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Notes on the accounts for the year ended S April 2025

1. Accounting policies

{a) Basis of preparation and assessment of going concern

These financial statements have been prepared in compliance with FAS 102, "The Financial Reporting Standard applicable in the UK and the Republic of Ireland”, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102) {Effective 1 January 2019) and the Charities and Trustee investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended). The accounts (financial statements) have been prepared under the historic cost convention, with the exception that investments are included at market value. The financial statements are prepared in sterling, which is the functional currency of the entity.

The charity is registered in Scotland for public benefit, charity number SC002738.

The trustees consider that there are no material uncertainties about the Trust's ability to continue as @ going concern. With respect to the next reporting period, 2024/25, the most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the jevel of investment return and the performance of investment markets (see the investment policy and performance and risk management sections of the trustees’ annua! report for more information).

(b) Funds Structure

Oetails of the fund structure are disclosed in note 10.

All income is recognised in the Statement of Financial Activities (SoFA) once the charitable trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. As the Charity is exempt from taxation provision is made for the tax recovery following submission of a relevant tax claim.

{d) Expenditure recognition

Liabilities are recognised as expenditure in the SoFA as soon as there is 3 legal or constructive obligation committing the charityto that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured safely. All expenditure is accounted for on an accruals basis.

{e) Costs of raising funds

The costs of generating funds consist of investment management and other relevant fees.

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MISS E C HENORY CHARITABLE TRUST
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Notes on the accounts for the year ended 5 April 2025
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1. Accounting policies (contd.)}
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(f} Charitable activities
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Costs of charitabie activities comprise grants made and support costs that comprise all administrative outgoings, internal and external audit, legal advice for Trustees, costs associated with constitutional and statutory requirements and strategic management throughout the year.

(g) Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transacton value and subsequently measured at their fair value as at balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Trust does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment fisk and changes in sentiment concerning equities and within particular sectors of sub sectors.

(h) Gains and losses

Ail gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

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(i) Taxation
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The Charity is exempt from tax on its charitable activities.

{J} Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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(k) Contingent Liabilities and Provisions
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None,
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MISS E C HENDRY CHARITABLE TRUST

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Notes on the accounts for the year ended 5 April 2025
2. Related party transactions and trustees’ remuneration
Trustees received no emoluments (2024: Enil) and no expenses (2024: Enil}.
3. Investment income
2025 2024
£ £
Dividends - Barctays Charity Fund 45,966 43,043
Interest - Barclays Charity Fund 35,259 34,534
Interest - Mitchells Roberton 206 15
81,431 77,592
4. Investment management costs
2025 2024
€ €
Stockbroker Fees - Barclays Wealth 7,940 7,492
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MiSS E C HENORY CHARITABLE TRUST

	Noteson theaccounts farthe yearended 5April 2025	Noteson theaccounts farthe yearended 5April 2025
5.	Analysisofcharitableexpenditure	2025		2024
		£		£
	Church Grants
	Cardross Parish Church		8500
	Maryhil! Ruchill Parish Church		1000
	Gorebridge Parish Church		500
	StMarys Cathedral Glasgow		500
	TheGlensand Kirriemuit Parish Church		$00
	Community Support Grouns
	NSPCC Scotland		1000
	Wellbeing ofWomen		500
	GlasgowCare Foundation		1000
	The Scottish Spina BifidaAssociation		500
	Aberlour Child Care Trust		soo
	Pain Concern		500
	Street Connect		$00
	VersusArthritis		500
	Calums Cabin		$00
	Corbenic Camphill Community		S00
	Cruse Scotland		500
	Place2be Friends		500
	HearingDogs for DeafPeople		500
	Children ist		500
	Christian Aid (£1,000 x 2)		2000
	Sunshine Wishes Children’s Charity		500
	BreastCancer Now		$00
	Geeza Break		500
	Good Morning Project Ltd		500
	Getting BetterTogether Ltd		500
	RNIB		1000
	TeapotTrustSCIO		500
	St Vincent's Hospice		500
	Visability		500
	PositiveAction in Housing		500
	Combat Stress		500
	Reeltime Music		500
		Forward:	27500

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MISS E C HENORY CHARITABLE TRUST

		Notes on the accountsfor the yearended SApril2025	Notes on the accountsfor the yearended SApril2025
5.	Analysis ofcharitableexpenditurecontd.)		2028		2024
			£		£
	Community Supoort Groups	(contd)
			Forward:	27500
	Happy Days Children’s Charity			500
	Revive MS Support			$00
	Scottish Huntingtons Association			$00
	National Burns Memorial Homes			500
	GorbalsYouth Café			S00
	MuscularDystrophyGroup			$00
	McMillan Cancer Support			500
	Hillhouse			500
	Carers Trust			500
	Castlemilk YouthComplex Ltd			500
	Young Livesv Cancer			$00
	RNID			$00
	Penumbra			500
	GRP forRCYCL in Argyll & Bute			500
	British Wireless for the Blind			500
	Baillieston CommunityCare			500
	EdinburghHeadwayGroup			750
	Sams Charity			$00
	StGeorges& St PetersCommunity Association			$00
	Playlist for Life			1000
	The Food Train			500
	The Sequal TrustSpecificFunds			500
	The Halliday Charitable Foundation			500
	Rosebery Centre SCIO			200
	Ardgowan Hospice			1000
	Pathfinder GuideDogProgramme			500
	The Mental Health Foundation			500
	Enable Scotiand			$00
	MuirheadOutreach Project Ltd			$00
	Tenovus Scotland			500
	The Earl Haig Scotland - Poppy Scotland			500
	St Andrew's Hospice			500
	Nordoff-Robbins Music Therapy			500
	6th East Kilbride Scout Group			500
	Maggies Scotland			$00
	Venture Scotland			500
	Refuweegee			$00
				46950

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MISS E C HENORY CHARITABLE TRUST

Notes on the accounts for the year ended 5 April 2025

Anatysis ofcharitableexpenditure (contd.)		2025		2024
		£		£
	Forward:		46950
Community SupportGroups{contd}
The Salvation Army			1000
IndependentAge			1000
Glasgow's Children's Hospital Charity			500
Glasgow Council on Alcohol			500
Dystonia UK			S00
Deafblind Scotland			1000
Wheel Trust			500
Kind (Scotland)			500
LodgingHouse Mission			1000
Sight Scotland			500
Rutherglen Community Carers			500
MoraAnderson Foundation			500
Who Cares Scotland			500
Faith intheCommunity			500
Greenock Medical Aid Society			500
UniversityCourt ofthe UniversityofGlasgow Trust			500
AIMS Project			500
Cerebral Palsy Scotland			1000
CardrossPoppy Appeal			500
Medical Research/Community Care
Kidney Kids Scotiand Charitable Trust			500
Alzheimer's Research UK			1000
British Liver Trust			500
Sepsis Research			S00
Action Medical Research			500
Bowel CancerUK			500
Chest, Heart & Stroke Scotland			1000
Beatson Cancer Charity			1000
Asthma and Lung UK			500
PDSA			500
Spinal Muscular AtrophyUK			500
Armed ForcesWelfare
Royal British Legion			500
SSAFA			1000
Walkingwith theWounded			500
Erskine Veterans Charity			500
The Acts
National Youth Orchestras ofScotland			500
National Theatre ofScotland			500
Helensburgh Music Society			2384
Beatroute Arts			soo
Pitlochry FestivalTheatre			$00
			72834		64500

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MISS E C HENORY CHARITABLE TRUST

Notes on the accounts for the year ended 5 April 2025

6.	Allocation of support costs
	Capital Administration fees: Mitchells Roberton	£ 4,740		2025 £		2024 £
	Armstrong Watson		$22		5,262
	Revenue						5,442
	Administration fees: Mitchells Roberton	4,740
	ArmstrongWatson		522
					5,262		5,569
					10,524		11,011
7.	Independent Examiner's remuneration
	The IndependentExaminer's remuneration constituted a fee of£1,044		(2024: £1,044)
8.	Netgains/{losses)
	FixedAssetInvestments			2025		2024
					£	£
(a)	Total netproceeds from disposals				8,366		7,557
	Less: Bookvalue				(8,146)		(7,401)
	Netgains/(losses)an disposals				221		155
{b)	Movementinfixedassetinvestments			2025		2024
					£	£
	Marketvatuebroughtforward			2,620,042			2,471,483
	Add: additions toinvestments at cost				-		*
	Disposalsatcarryingvalue				(8,146)		(7,401)
	Add:net gains/(losses)onrevaluation				(66,921)		155.960
	Marketvalue as at5 April 2025			2,544,975			2,620,042
(c})	NetGains/{Losses}			2025		2024
	oninvestments				£	€
	On disposals as above				221		155
	Onrevaluation asabove				(66,921)		155,960
					(66,701)		156,115
(d)	Investments at market value
	Comprised:			2025		2024
					£	£
	Multi AssetClass& other Investments			2,544,975			2,620,042
	Total			ae	STS	es	2520-042
	Cash held for investment
	This represents cash held by Barclays Wealth Management in a capital
	accountforreinvestment.

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MISS E C HENDRY CHARITABLE TRUST

Notes on the accounts for the year ended 5 April 2025

9.	Analysis ofcurrent liabilities	Analysis ofcurrent liabilities
					2025	2024
				£	£	£
	Investment management costs
	Barclays Wealth			2,000
	Supportcosts
	Capital
	Mitchells Roberton			2,700
	ArmstrongWatson			1,044	5,744		5,402
	Revenue
	Mitchells Roberton			2,700
	ArmstrongWatson			1,044
					3,744		3,402
					9,488		8,804
10.	Analysis ofcharitablefunds
	Analysisof Fund	Balanceat 6April	incoming resources	Resources expended	Gains and	Balanceat 5April
	movements	2024			losses	2025
		£	£	£	€	£
	{a) Expendable
	endowment	2,573,792	-	(13,202)	(66,701)	2,493,889
	(b}Unrestricted	$9,807	81,431	(78,096)			63,142
	Total	2,633,599	81,431	(91,298)	(66.701)	2,557,031
	Comparatives formovement infunds
	Anatysisof	Balanceat	Incoming	Resources	Gains	Balance	at
	Fund	6April	resources	expended	and	5April
	movements	2023			losses	2024
		£	£	£	£	£
	(a) Expendable
	endowment	2,430,610	-	(12,934)	156,116	2,573,792
	(b)Unrestricted	$2,285	77,591	(70,069)			$9,807
	Total 2,482,895 77,591 (83,003) 156,116 2,633,599 8S SSS SS ——————EEEeEEEE

(a) The Trust Deed allows for the application by the Trustees of the income and capital of the Trust Funds for charitable purposes