Mrs A B C Campbell's Charitable Trust REPORT AND ACCOUNTS For the year ended 12 March 2025 Caledonian Exchange 19A Canning Street EDINBURGH EH3 8HE Scottish Charity No SC003251
Mrs ABC Campbell's Charitable Trust Report and Accounts For the year ended 12 March 2025 Contents Page No Trustees, Report Independent Examiner's Report statement of Financial Activities Balance Sheet Notes to the Accounts
Mrs ABC Campbell's Charitable Trust Trustees. Report For the year ended 12 March 2025 Introduction The Trustees present their report and the financial stalements of the Charity for the year e ed12 March 2025. The financial statements have been prepared in accordance with the acc unting policies set out in Note 1 to the Accounts and comply with the Charity's Trust Deed, the C arilie5 and Trustee Investment (Scollandl Act 2005, the Charities Accounls (Scollandl Regulaliolts 2006 (as amended) and Accounting and Reporting by Chaflties.. Statement of Recommended Flractice applicable lo charities preparing their accounts in accordance with the Financial Rq)orting Standard applicable in the UK and Republic of Ireland (FRS1021 effective 1 January 2019. Ob'ectives Activlties and Grant-makin The purpose of the Trust is lo make payments for chantable purposes to charitable instilLlions, societies, foundalians or funds as the Trustees in their sole discretion decide. The Truste s hold the fLJnds as specified in the Declaration of Trust. Polic The expression 'charilable purposes. means a charitable purpose as defined in Section 7 Charities & Trustee Investment (Scotlandl Act 2005 and which is also regarded as a ch purpose in relation to the application of the Taxes Acts. of the rilable Achievements and Performance During the period of these Accounts the Trustees made granls and other charitable donatkns to five organisalions amounting in total lo £35,000 12024 three organisalions totalling £24.000}. Further details are contained in Note 4 lo the Accounts. Financlal Review During the period of these Accounts the Trustees made grants as noted above. The investment income received by the Trust during the year amounted lo £35,306 1 024 £33,748) There was a deficit before gains and losses on investments of £14,445 (deficit 2024 £6,414) at the year-end as a result of the level of donations made dursng the year. Realised gains on sales of shares were £4,517 and there were unrealised gains of £14,0481 the previous year there were realised gains of £442 and unrealised gains of £47,486). The total value of the trust funds held as at 12 March 2025 amounted lo £1,239,333 1 £1,235,213). The Trustees are satisfied that adequate funds were available al the Balance date lo continue lo fulfil the charitable objectives of the Trust. uring 24 heet Investment oli¢ and erfomiance The Trust's investments are included in the designated Capital Fund. The investrnent objective of the Trustees is to achieve an above average income yield together with growth of income over the long term. To implement that objective, Ralhbones mana* the investment portfolio on behalf of the Trustees. The value of the portfolio increased from £1,19d,264 10 £1,216.185 during the period.
Risk Mana ement The principal risk faced by the Trust lies in the perforrnan of investment5. The Trustees consider variability of investment returns on the capital {designaled) und to constitute the charity's Major financial risk. This is mitigated by retaining expert inv¢stmenl managers and having a diversified investment portfolio. The Trustees have direckd the investment managers lo manage the funds with a balanced mandate between income and capital growth. Reserves Polic The Trustees have chosen to designate the capital funds held by the Trust, being the briginal capital of the Trust, adjusted annually for income and fees related to capital and for invdstment gains and losses, to preserve the income generating capacity of the Trust,. they have p¢wer to apply the capital and the general funds towards the charitable PLbrposes lo such an extent ès they may from time to time think fit. At the end of the financial year. the Trustees aim to hold approximately one year expenditure in the general fund. total Structure Governance and Mana The Charity was formed in 1987. The founding document is a Declaration of Trust Campbell dated 12 March 1986 and registered in the Books of Council and Session on 1987. ernent y Mrs April The Trustees who served during the period of these Accounts are noted below. The Truste& seek to maintain a balance of relevant skills and experience within the trustee body. No changes to the Iruslee body are envisaged at the present time but in the event of new trustees being apooinled Ihey wou5d be provided with copies of the Trust Deed, Minutes andlor relative correspontlence, rent Accounts and OSCR'S Guidan. Appointments are not limited in time. The Trustees have wide investment powers. They are in regular contact in order lo revi¢w the financial position of the Trust and make decisions on the application of income for ch ritable purposes. Lindsays Solicitors administer the charity on a day to day basis on behalf f the Trustees. Ralhbones are appointed lo manage Ihe investment portfolio on behalf of the Trustees. Details of Transactions with Related Parties Lindsays Trustees & Executors Limited, as one of the Trustees, is a wholly-owned trustee company belonging to Lindsays LLP Solicitors to whom fees are paid for the secretari$l and administrative support provided to the Trust. The payment of fees to Lindsays LLP is permitted irs terms of the Declaration of Trust and the Trustees have written terms of engagement with LiThJsays LLP in regard lo those services in Complian with the tenns of s67 of the Charities and T ustee Investment IScotland} Act 2005
Reference and Administrative Infomiation Scottish Charity Number SC003251 Address Caledonian Exchange 19A Canning Street Edinburgh EH3 8HE Triistccs SecrL¥taries rind LecJ31 Advisers Lindsays LLP Caledonian Exchange 19A Canning Street Edinburgh EH3 8HE nt Examiner GID5UlI IVl¥rtVll Vll DKII Iv¥v? Lll I liked 14 Rutland Square Edinburgh EH1 2BD Investment Managers Rathbones George House 50 George Square Glasgow G2 1EH
Statement of Trustees Res onsibilities The Trustees are responsible for preparing the Report of the Tru51ees and the financial statements in accordance with applicable law and Untted Kingdom Accounting Standards (United Klngdom Generally ACpted Accounting Practice). The law appliGable lo charities in Scotland. the Charities and Trustee Investment IScDtla dl Act 2005, Charities Accounts (Scotlandl Regulations 2006 las amended) and Ihe provisiond of the charity's conslilLrtion requires Ihe Truslees lo prepare financial statements for each financ1 year which give a true and fair view of the state of affairs of the charity and of the incoming re90urces and application of resour5, including the income and expenditure. of Ihe charity for that eriod. In preparing those Iinancial statements, the Trustees are required to- Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charity SORP Make judgements and eslirnales that are reasonable and prudent state whether applicable accounling standards have been followed, subject to any departures disclosed and explained in the financial slalements", Prepare the financial statements on the going concem basis unless it is inapprop presume that the charity will continue in business_ The TrusteÈs are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to Ènsure that the financial statements comply with the Chanties and Trustee Investment {Scotland} Act 2005. the Charities Accounts Iscotlandl Regulations 20C6 {as amended) and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregul rities. aterial ate to Approved by the Trustees on a8",qy 2025 and signed on their bèhalf by.
Mrs ABC Campbell's Charitable Trust Independent Examiner's Report to the Trustees For the year to 12 March 2025 I report on the Accounls of the Charity for the year ended 12 March 2025 which are set pages 6 10 11. out on Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance ith the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities A¢counts (Scolland} Regulations 2006 las amended). The charity's trustees consider that the audit requirement of Regulation 1011)lal lo Ic} of the 20[ Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1 Ilcl of the Act and state whether particular matters have come to my attention. Basis of independent examinerfs statement My examination was carried out in accordan with Regulation 11 of the 2006 A ounls Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also include5 consideration of any unusual items or disGlosures in the accounts and seeking explanations from you as thjstees concerning any such matters. The procedures undertaken do nol piovide all the evidence that would be required in an audit. and consequently I do not express an audit opinion on tlp view given by the aGCOLSnts. Independent examiner's statement In the course of my examination, no matter has come lo my attention- 111 which gives me reasonable cause to believe that, in any material resrkct. the requirements.. lo keep accounting records in accordan with Section 44{1){al of the 2005 Regulation 4 of the 2006 Accounts Regulations. and t and to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met. or 121 to which, in my opinion. attention should be drawn in order to enable a proper understan the accounts lo be reached. ing of Gic.s- l ilAcKerrel' BJrrc'iis LITI Le. 14 Rutland Square Edinburgh EH1 2BD OZ 2Q25
MRS ABC CAMPBELL'S CHARITABLE TRUST Statement of Flnanclal Actovlties Including Income and Expendlture Account For the year onded 12 March 2025 Unrestrtcted Funds General Oeslgnate(I Total 2025 2025 2025 Total 2024 Notes Income from.. Investments 35, 35,306 3,746 Totsl Incom¥ 35,306 35,306 3,748 endlture on: Rai51ng funds.. investment management fees Charitable 8Ctivilies 11.C61 1,845 11,061 38,690 10.562 9,600 36.845 Totsl expendl¢ur• 36.845 12,9C 49.751 0.162 Net lexpendllurevlncome and net moverntrnt In funds b¢lor¢ galnj and Ilossesl gn Investments 11,539 112,9061 114,4451 16,4141 Other roto nlsed alns and 198808 Realised gainslllossesl on disposal of Investsnents Unr&alised gainslllosseyl on Investment5 4.517 14,048 4,517 14,048 442 7,486 18,565 18,565 7,926 Net movèment In lund$ 11,5391 5.659 4,120 1,514 Totsl funds brought forward 35,854 1, 199,359 1,235,213 3.699 Total fund# earrfed lorward 34,315 1,20S,018 1,239,333 1.2Y5,213 No ITVSt actiwties were acquired or discontsnued during either of the two years. The Noies on Pages 8 lo 11 form part of ihese Financial Stalernenls.
MRS ABC CAMPBELL'S CHARITABLE TRUST Balance ShÈ¢t As at 12 March 2025 General 2025 Deslgnated 2025 Total lund8 2025 024 Notes Flxed assols Investrnenls 1.216.185 1.216,185 1.194 64 Current assets Dgbtors - d¢crued Income Cash hold by Lindsays LLP Ralhbones dp.pDsil accounl 5.250 25,911 4.999 48 24 77 11Q,265) 21, 5.942 36.160 19,32?) 26,838 44, 49 Crodltors: Affloullts fallln ono dye within Accruals 1.845 1,845 3.690 00 Nel Current asS8tsl 34,315 111.1671 23,148 40, Net assets 34,315 1,205,018 1,239,333 1.23S,113 Total Chaill Funds Uniestricled funds 34,315 1,205,018 1.239.333 1.235, 13 The Notes on Pages 8 10 11 fM p8rt ol these Financial Stalements.
Mrs ABC Campbell's Charitable Trust Notes to the Accounts For year ended 12 March 2025 Princi al Accountin Policies lal Basis of preparation and assessment of going concern The accounts (financial slalemenlsl have been prepared under the histori1 cost co venlion with items recognised al cost or transaction value unless otherwise slated in the relev nl note lo these accounts and in accordan with the Statement of Recommended raclice.. Accounting and Reporting by Charities preparing their accounts in accordance ilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (Eecond edition October 20191, the Charities and Trustee Investment (Scollandl Act 2005 nd the Charities Accounts Iscollandl Regulations 2006 las amendedl. The Trust conslitules a public benefil entity as defined by FRS102_ The Trustees consider there are no material uncertainties about the Trust's ability lo &nt' Inue as a going conr Ibl Financial reporting standard 102- reduced disclosure exemptions The charity has taken advantage ol the following disclosure exemption in preparin accounts, a5 permitted by the Financial ReFX)rting Stsndard applible in the United and Republic of Ireland IFRS1021". the requirements of Section 7 Statement of Cash Flows these ngdom Icl Funds Structure All of the Charity's funds are tjnrestn'cted., the Trustees have chosen lo designate th funds of the charity to more clearfy identify the income available for distribution. Charity's funds are available to be used in furtherance of the charitable objects. capital of the Idl Income Recognition All Income Is recognised once the chanty has entsllement lo the income. il is probable income will be received and the amount of income receivable can be measured reliabl al the Interest on funds held on deposit is included when receivable and the amount Èan be measured reliably by the charity" this is normally upon nolificalion or the interest Paid or payable by the bank. Dividends awe recognised once the dividend has been declafyd and notification has been receTved of the dividend due. (el Expenditure recognition Liabilities are recognised as expenditure as soon as there Is a legal or conslruclive o committing the charity to that expenditure, it is probable that sewement will be requi the amount of the obligation can be measured reliably. igalion dand All expenditure is accounted for on an accruals basis. All expense5 including suppo and governance costs are all(ated or apportioned to the applicable expenditure he For mole information oll this atAn"bulion refer lo note lil below. costs dings. Donations payable are payments made lo third parties in the furtherance of the ch•rilable objects of the Trust All donations made by the Trust are unconditional and recogni5e when the TrLJStees inform the recipienl of the donation. ifj Irrecoverable VAT Irrecoverable VAT is charged against the expenditure heading for which Il was incurred Costs of raising funds The costs of raising funds con51St of investment management costs.
Igl Charitable activities Costs of charitable activities include donations payable, sijpport and governance shown In note 4. sls as Ihl Support and governance costs Support costs have been allocated beeen governance costs and other suppo Governance costs comprise all costs involving the public accountability of the chari compliance with regulation and good prac11. These costs include costs rel independent examination and an apportionment of overhead and support costs. Gov costs and support cos15 relating lo charitable activities have been apportioned bee based on an estimate by the Trustees. The allocation o15UPPOrt and governance analysed in note 4. costs. and ils led lo rnance funds osls is Flxed asset Investments Investments are a form of basic financial instrument and are initially recogni5ed I their transaction value and subsequently measured at their fair value as al the balance sh I dale using the closing quoted market Pfiee. The slalemenl of financial activities includes Ihe nel gains and losse5 arising on revaluation and disposals throughout the year The Trust dbes not acquire pul options, derivatives or other complex financial Instruments The main brm of financial risk faced by the chanty is that of volatility in equity markets and investment markets due lo wider economic conditions, the attitude of inveslors lo investment risk, and cha ges in senlirnenl concerning equities and within particular sectors or sub sectors. Reallsed gains and losses All gains and losses are taken to the Stalernent of Financial Activities as they arise. R gains and losses on investments are calculated as the difference between sales pr and their opening carrying value or their purchase value if acquired subsequent lo the of the financial year. Unrealised gains and losses are calculated as the difference the fair value at the year end and their carrying value. alised ceeds sl day tween Ikl Cash and Cash equlvalents Cash and cash equiva5enls are repsented by cash in hand, deposits held al c rinancial inslilulions. and other short-lefm highly liquid investments that mature in n than three months from the dale of acquisition and that are readily convertible lo amounts of cash with insignifi¢anl risk ol change in value. 11 with more nown
Trustees and Em ees The TIu5t has fio ernpWè$ 8nd none olthe Trust reNed Bny rEffluneralion. rK)rre any expenses revnbutsed lo of Ihem, during Ihe CUlFent or Pre$ al. Fees lotsifing £1.86012024 £1,860lwptB pahj to Llndsays LLP%¥hose InJst88 company, Llndsays Tnle8s & EXertOr5 Llmlled, Is a Tws188. Income from Investments General Deslgnatod 2025 2025 Total funds 2025 024 Aring from.. UK InveslTnen15- Li51ed Inleresl on funds hBk6 by UTrdsay6 LLP aThJ In%thonl m8nag8rs 34.428 34.428 715 878 878 033 35.306 748 endlture on charltable activitles Donatsons able The CharilydhJ not underfAke any charilaMe aGliwtyQitecty bul mel rts ch8fli8b purFx)ses through donatn¥. During the yèar charitable donauons re m8de by u Ttustees to the folkMg organisations." Generdl Designated 2025 2025 Total funds 2025 024 Edinburgh New Town Church of ScotLTrJ SlIan¢.5 ¢hurche5 Trusl Music in Hospilais & Care RNLI SAUKf lo.) 10.CkX) 5,CN)O 10.0 10,t)00 15 00 35.1) 26. ort Costs Secrelari313nd administr3tron co315 Accounting fees 465 229 465 229 93Q 458 30 35 694 1,388 Governanc8 Costs Independent examination Legal fees 1.372 930 465 465 1.151 1,151 2.302 36.845 1.846 38.89) 29, 10
5 Investments 2025 2024 Investments al markÈt valu• As at 13 March Additions In period Disposal in period Un811$ed gainslllos8e51 during year 1,194.264 1,140.328 157,396 47.197 1149,5231 140,7471 14,048 47,486 As al 12 March 1.216,185 1,194.264 All invostrnents were held in the UK Shar8holdings accounting fof mom Ihan 5% are 8$ follo..- Market Valu8 Market Valuo 2025 2024 202512024 Numb8r 17,350 J P Moroan GWI & Irw 55,000 BBnkets Investrxenl Twst 93.517 62.810 95,252 61.050 6 Anal 2025 Analysis of Fund Movements f harl bl f nds B•lan¢FJ Incorne Expendltur• Galn• Fund clf and 108808 Gen8rAI 35.854 35.306 136.8451 34.315 Dtssignatsd 1,199.359 112.9061 16.565 1.205.018 1.23S.213 35.3C6 149.7511 18.565 1,239,333 2024 Analysis of Fund Movement8 all•n Incom Exp•ndlture G4ln¥ Fund CM and lo$$¢• G8neral 29.gJ6 33.748 I27,)) 35,854 Designated 1.163.793 112,3621 47.928 1,199,359 1.193.699 33.748 140,1621 47.928 1,235,213