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2025-04-30-accounts

Charity Registration No: SCO03423 (Scotland)

SIR JAMES CAIRD's TRAVELLING SCHOLARSHIPS TRUST ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2025

|

CONTENTS

Legal and Administrative Information 3
Trustees Report 4
Independent Examiners Report 7
Statement of Receipts and Payments 9
Statement of Balances 10
NotestotheAccounts 11

REFERENCE AND ADMINISTRATION DETAILS

7

Charity Number (Scotland)

Principal Address

Independent Examiner

Bankers:

Investment Managers:

a $C003423 Thorntons Law LLP Whitehall House 33 Yeaman Shore Dundee DD1 4B)

Po Henderson Loggie LLP The Vision Building 20 Greenmarket Dundee DD1 4QB

Royal Bank of Scotland 3 High Street Dundee DD1 SLY

Sarasin & Partners LLP Juxon House 100 St Paul's Churchyard London EC4M 8BU

3

TRUSTEES' REPORT

The Trustees present their annual report and financial statements for the year ended 30 April 2025.

Structure, Governance and Management

Constitution

The Trust was established in the Will of Mrs Emma Caird or Maryatt, dated 11 June 1919 and registered in the Books of Council and Session on 10th December 1927.

Appointment of Trustees

Trustees are nominated by the then existing trustees and their appointment confirmed by formal Deed of Assumption.

Trustee Induction and Training

The Trustees deal appropriately as regards induction and training on any new trustees appointed. This includes awareness of a Trustees’ responsibilities, the governing document, administrative procedures, and the history and philosophical approach of the Charity. A new Trustee will receive copies of the previous year's accounts, minutes of recent trustee meetings and a copy of the OSCR booklet 'Guidance and good practice for Charity Trustees’, is appropriate.

Key management personnel remuneration

The Trustees consider the board of trustees as comprising the kay management personnel of the charity in charge of directing and controlling the charity and running and operating the charity ona day to day basis. All trustees give of their time freely and no trustee remuneration or expenses were paid in this or the previous year.

Members of the Advisory Committee are paid an annual honorarium for their services.

Objectives and activities

Organisation and grant-making policy

The day to day administration is carried out by Thorntons Law LLP, as secretaries and agents for the Trust. The Trustees meet at least once a year to review all aspects of trust's affairs. The Trustees are assisted by an Advisory Committee consisting, currently, of three suitably qualified persons with musical expertise who vet all applications, hold auditions etc.

GS WV! provided a lump sum to be held in Trust " for the foundation of Travelling Scholarships to be known as ‘Sir James Caird's Travel Scholarships’ in Engineering, Electricity, Aeronautics and Music, to be eligible to Natives of Scotland only."

Scholarships are currently awarded only in Music and are awarded annually to enable individuals to study music at post graduate or equivalent level at a place of study away from their home town. The amounts awarded are determined taking into account the applicants’ abilities and all other relevant circumstances and are generally based on the recommendations of the Music Advisory Committee. The Advisory Committee vets applications and then holds auditions to enable it to decide upon its recommendations each year

4

TRUSTEES' REPORT (Contd)

Organisation and grant-making policy (cont)

Prior to 2011, up to 1 awards of £500 were made annually to Junior Engineering research staff and research students towards travel and subsistence costs for overseas conferences, based on the recommendations of an Engineering Advisory Committee, which vetted all applications. As a result of the drop in income of the trust over recent years, the Trustees agreed to suspend the payment of Engineering grants as from 2011 until otherwise resolved.

Risk Management

The Trustees have assessed the major risks to which the trust is exposed, in particular those relating to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate exposure to this risks. The Trustees consider variability of investment returns to constitute the Charity's major financial risk. This is mitigated by retaining expert Investment managers and having a diversified investment portfolio.

Achievements and Performance

The Trustees’ revised policy is to fund awards to the extent of approximately £40,000 per annum. In adopting this approach, the Trustees accept that it may from time to time be necessary to expend capital, but that this hopefully will be covered by the total return achieved in the portfolio. This replaces the Trustee's previous policy of making the awards to an extent which absorbs as nearly as practicable the whole net income for the year

During the year the Trust paid Music Grants totalling £37,700 (2024 - £40,800).

Financial review

The results for the year are set out on pages 9 and 10.

Investment Policy and Performance

The current asset allocation is: Cash, Gilts, Corporate Bonds 10%; Direct Equities 66%; UK, Global and Far East Equity Funds 24%.

5

TRUSTEES' REPORT (Cond)

Reserves Policy

The reserves of the trust originate from the initial and any subsequent bequests, together with movement in the value of investments and accumulated revenue. The Trustees had adopted a reserves policy that should ensure the continuing ability of the Trust to meet its objectives. There was a balance of free reserves of £1,791,457 held at 30 April 2025 (2024 - £1,882,346).

Future Strategy

No change are presently envisaged in the trust's policies as outlined above.

Trustees

The Trustees during the year were:

The Trustees’ Report was approved by the board of trustees.

Trustee

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Date iz_k rn. LOC
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6

INDEPENDENT EXAMINER'S REPORT

Independent Examiner’s Report to the Trustees of Sir James Caird's Travelling Scolarships Trust

| report on the financial statements of the charity for the year ended 5 April 2025 which are set out on pages 9 to 13.

This report is made to the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken to enable me to report my opinion as set out below and for no other purpose. To the fullest extent permitted by law | do not accept or assume responsibility to anyone other than the trustees, as a body, for my work or for this report.

Respective responsibilities of the Trustees and Examiner

The charity’s Trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity’s Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements 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 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 financial statements.

Independent Examiner’s Statement

In the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

: to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and

. to prepare financial statements which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations

have not been met, or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

7

po INDEPENDENT EXAMINER'S REPORT (Contd) Partner

For and on behalf of Henderson Loggie LLP

Chartered Accountants

The Vision Building 20 Greenmarket Dundee DD1 4QB

.,.29 February 2026

8

STATEMENT OF RECEIPTS AND PAYMENTS AS AT 30 APRIL 2025

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||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Receipts| |Investment|income|2|46,055.34|44,390.00| |Net|proceeds|from|investments|App|1|37,850.31|38,030.00| |Total|receipts|83,905.65|82,420.00| |Payments| |Raising|Funds|3|13,309.47|13,132.00| |Charitable|Activities|4|66,545.72|71,143.00| |Governance|Costs|6|7,842.20|6,537.00| |Total|payments|87,697.39|90,812.00| |Deficit|for the year|(3,791.74)|(8,392.00)|

----- End of picture text -----

All funds are unrestricted.

9

STATEMENT OF BALANCES AS AT 30 APRIL 2025

2025 2024
Notes £ £
Cash and bank balances at start ofyear 76,805.24 85,197.24
Deficit shown on receipts and payments account (3,791.74) (8,392.00)
Cash and bank balances at end of year 73,013.50 76,805.24
Investments 1,726,766.00 1,813,812.00
Estimated Liabilties
Advisory Committee - Honoraria 4,960.00 4,960.00
HM Revenue & Customs, PAYE Honoraria 1,240.00 1,240.00
Rathbones Investment Management fee 1,085.46 1,128.00
Henderson Loggie LLP, Independent Examination fee 1,036.80 943.00
8,322.26 8,271.00

The financial statements were approved by the Trustees on AL Efren DOr

Trustee

10

NOTES TO THE ACCOUNTS

1) Accounting Policies

1.1) Basis of Preparation

1.2) Going Concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the forseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3) Investment Managers

1.4) Independent Examiner

The trustees approve the continued appointment of the Independent Examiner as detailed in the Report of the trustees in these accounts.

11

NOTES TO THE FINANCIAL STATEMENTS (Contd)

2) Investment income

2025 2024
£ £
Dividends Received 45,280.29 43,999.00
Bank Interest 775.05 391.00
46,055.34 44,390.00
3) Raising Funds
2025 2024
£ £
Investment Management Fees 13,309.47 13,132.00
13,309.47 13,132.00
4) Charitable Activities
2025 2024
£ £
Donations (See note 5) 37,700.00 40,800.00
Support Costs costs (Note 6) 28,845.72 30,343.00
66,545.72 71,143.00
5) Donations
2025 2024
£ £
15 (2024: 17) Scholarships and Grants in Music paid in year to individual
Students 37,700.00 40,800.00
Donations paid 37,700.00 40,800.00
6) Support Costs
Governance
Support Costs Costs 2025 2024
£ £ £ £
Legal and Professional Fees 21,120.00 5,280.00 26,400.00 26,400.00
Advisory Committee Honoraria and
expenses (note 7) 6,360.88 : 6,360.88 7,066.00
Audition Costs 1,364.84 - 1,364.84 2,065.00
PAYE Payment - 1,240.00 1,240.00 -
Insurance Premium - 379.00 379.00 379.00
Bank Charges - - - 6.00
Website Costs - - - 86.00
Registration Dues - = - 20.00
Independent Examination Fees - 943.20 943.20 858.00
£ 28,845.72 £ 7,842.20 £ 36,687.92 £ 36,880.00

12

NOTES TO THE FINANCIAL STATEMENTS (Contd)

7) Payments to Members of Advisory Committee

2025 2024
Honoraria Expenses Total Total
Prof George Caird 1,840.00 239.24 2,079.24 2,596.00
Hector Scott 1,560.00 610.69 2,170.69 2,301.00
Pat MacMahon 1,560.00 550.95 2,110.95 2,169.00
£ 4,960.00 £ 1,400.88 £ 6,360.88 7,066.00

8) Trustees

None of the Trustees (or persons connected with them) received any remuneration or benefits or were reimbursed expenses during the year (2024 - ENil)

13

Sir James Caird's Travelling Scholarships Trust

Appendix1 INVESTMENT TRANSACTIONS FOR THE YEAR TO 30 April 2025

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----- Start of picture text -----
|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Gain|/(Loss) on| |Holding|Book Cost|Market Value|Disposals|Gain|Historical Cost|Cost|Units (sold)/|Holding|Market Value|Revaluation| |30/04/24|30/04/24|30/04/24|Additions|(at cost)|Proceeds|(Loss)|30/04/2025|30/04/2025|purchased|30/04/2025|30/04/2025| |Abbott|Laboratories NPV Common Stock|340|31,783|28,774.00|31,783.00|28,774.00|340|33,282.00|4,508.00| |Aberdeen OEIC V Global Index Lkd BondS|Inst!|Inc|54,000|27,478|26,163.00|27,478.00|26,163.00|54,000|25,763.00|-|400.00| |Accenture|Pic|120|26,820|28,838.00|26,820.00|28,838.00|120|26,876.00|-|1,962.00| |Admiral Group Pic|1,300|26,340|35,477.00|8,187.00|8,775.00|588.00|20,261.54|27,290.00|-300|1,000|32,580.00|5,290.00| |Alphabet|Inc|280|14,507|36,400.00|4,582.50|-|19,089.50|40,982.50|40|320|38,044.00|-|2,938.50| |Amazon Com Inc|260|33,757|36,337.00|-|33,757.00|36,337.00|260|35,898.00|-|439.00| |Aptiv Pic|340|25,527|19,280.00|9,643.79|28,923.79|22,510.32|-|= 6,413.47|-340| |ASML Holdings NV|50|28,554|35,552.00|10,606.92|:|39,160.92|46,158.92|20|70|34,702.00|-|11,456.92| |ASSA Abloy NPV|1,400|30,219|30,051.00|:|30,219.00|30,051.00|1,400|31,689.00|1,638.00| |Astrazenca|Pic|350|7,975|42,217.00|6,031.00|6,301.39|270.39|6,835.71|36,186.00|-50|300|32,184.00|-|4,002.00| |Berkshire Hathaway|Inc|12,261.94|=|12,261.94|12,261.94|32|32|12,775.00|513.06| |BlackRock Asset|Managers|Europe Absolute|Alpha|D| |Acc|19,000|30,400|35,710.00|15,035.79|15,024.67|>|11.12|16,084.21|20,674.21|8,000|11,000|20,957.00|282.79| |BlackRock Income NPV|31,766.55|:|31,766.55|31,766.55|50|50|34,224.00|2,457.45| |Bluebay|Funds Management|Global|Inv Corp Bond S| |Inc|410|36,384|36,072.00|:|36,384.00|36,072.00|410|37,097.00|1,025.00| |Booking Holdings|Inc|9,746.33|-|9,746.33|9,746.33|3|3|11,453.00|1,706.67| |BOOZ Allen|Hamilton|Holding Corp|235|17,823|27,714.00|4,703.51|-|22,526.51|32,417.51|55|290|26,058.00|-|6,359.51| |BP Plc|5,200|24,003|27,061.00|11,518.50|-|35,521.50|38,579.50|3,000|8,200|28,725.00|-|9,854.50| |Candence Design Systems|Inc|28,890.41|:|28,890.41|28,890.41|130|130|28,978.00|87.59| |CME Group Inc|210|29,901|35,159.00|:|29,901.00|35,159.00|210|43,563.00|8,404.00| |Coca-Cola Co|580|20,859|28,612.00|20,859.00|28,612.00|580|31,503.00|2,891.00| |Compass Groups|Pic|26,605.96|:|26,605.96|26,605.96|1,200|1,200|30,216.00|3,610.04| |Cooper Cos Inc|400|24,654|28,450.00|:|24,654.00|28,450.00|400|24,458.00|-|3,992.00| |Diageo|Pic|930|7,101|25,812.00|25,812.00|20,425.72.|-|5,386.28|-930| |Estee Lauder Cos|150|22,322|17,575.00|17,875.00|10,448.83|-|7,126.17|-150| |Experian|Pic|960|21,519|31,142.00|-|21,519.00|31,142.00|960|35,664.00|4,522.00| |Franklin Templeton|Global|Funds|Pic WA Short| |Duration|Blue Chip P2+|230|23,140|21,415.00|21,415.00|21,875.30|460.30|-230| |Genuit Group Pic|6,100|17,330|26,627.00|-|17,330.00|26,627.00|6,100|23,241.00|-|3,386.00| |Greencoat|UK Wind Pic|23,000|25,398|32,177.00|:|25,398.00|32,177.00|23,000|26,542.00|-|5,635.00| |Halma Pic|1,400|13,588|30,898.00|:|13,588.00|30,898.00|1,400|38,584.00|7,686.00| |Hermes|Investment|Management US SMID|Equity|L| |Inc|20,700|38,798|37,173.00|16,906.47|9.12|9.12|-|55,695.35|$4,070.35|9,300|30,000|49,515.00|-|4,555.35| |HICL Infrastructure Co Ltd|15,000|24,936|18,330.00|-|24,936.00|18,330.00|15,000|17,460.00|870.00| |Home REIT|Pic|29,000|29,000|290.00|290.00|2,320.00|2,030.00|-29,000| |JPMorgan Chase & Co|220|24,329|33,688.00|7,656.36|9,525.48|1,869.12|18,799.68|26,031.64|-50|170|31,134.00|5,102.36| |JPMorgan Japanese Investment|Trust|5,400|38,501|27,540.00|15,660.00|-|$4,161.00|43,200.00|3,000|8,400|48,468.00|5,268.00| |Jupiter Unit Trust Managers Japan Income U2|Inc|29,000|33,559|33,481.00|33,481.00|33,481.00|29,000| |Jupiter|Unit Trust Managers Japan Income U4 Inc|33,301.32|-|33,379.32|33,301.32|34,970.85|34,971|34,723.00|1,421.68| |Kreditanst Fur Wie 0.125% Gtd Snr 30/12/26|20,000|17,363|17,831.00|17,831.00|18,313.51|482.51|-20,000| |Liontrust|Investment|Monthly|Income Bond|P Gross| |Inc|35,000|35,824|28,479.00|28,479.00|28,479.00|>|-35,000| |Liontrust Investment Sust Fut Monthly|Inc Bd M|Inc|28,479.00|-|35,824.00|28,479.00|29,247.91|29,248|28,806.00|327.00| |Uoyds Banking Group|Pic|45,500|33,105|23,615.00|23,615.00|25,298.43|1,683.43|-45,500| |London Stock Exchange Group Pic|31,157.59|-|31,157.59|31,157.59|310|310|36,038.00|4,880.41| |Marsh & McLennan Co Inc|23,786.95|:|23,786.95|23,786.95|130|130|21,94400|-|1,842.95|

----- End of picture text -----

M&GPk 12,000 21,164 24,132.00 24,132.00 24,503.40 371.40 ~12,000
M&GSecurities GlobalMacroBond PPInc 43,000 40,957 34,594.00 34,594.00 33,695.70 - 898.30 43,000
MIChelverton EquityFund
MicrosoftCorp
150 28,467 46,639.00 17,206.50
6,352.66
:
-
17,206.50
34,819.66
17,206.50
52,991.66
15,000
20
15,000
170
17,967.00
50,306.00
- 760.50
2,685.66
MontanaroUKSmallerCompaniesInvestmentTrust
MurrayInternationalTrustPic
Nextera Energy Inc
Novo-NordiskAs
NvidiaCorp
Partnersgroup HoldingAG
Persimmon Pic
PrudentialPic
Qualcomm Inc
21,225
12,000
470
1,700
3,065
144
22,018
14,357
27,178
22,066
16,294
13,043
22,499.00
29,880.00
25,137.00
22,168.00
21,486.00
19,073.00
33,989.50
18,956.71
27,022.34
19,073.00 22,811.21 :
:
:
-
-
:
:
:
3,738.21
22,018.00
14,357.00
27,178.00
33,989.50
18,956.71
27,022.34
22,066.00
16,294.00
22,499.00
29,880.00
25,137.00
33,989.50
18,956.71
27,022.34
22,168.00
21,486.00
330
230
25
144
21,225
12,000
470
330
230
25
1,700
3,065
20,631.00
31,800.00
23,533.00
16,373.00
18,755.00
24,497.00
22,015.00
24,269.00
-
-
-
-
-
1,868.00
1,920.00
1,604.00
17,616.50
201.71
2,525.34
153.00
2,783.00
Reckitt BenckiserGroup Pic
Rentokil InitialPlc
RioTintoPic
550
6,500
570
35,336
27,388
9,485
24,574.00
26,462.00
31,190.00
24,574.00
26,462.00
24,374.47
21,719.75
:
-
199,53
4,742.25
:
9,485.00 31,190.00 550
-6,500
570 25,348.00 - 5,842.00
Royal LondonAssetManagement ShortDuration
GlobalIndex LinkedZInc 17,000 17,640 17,969.00 17,969.00 18,054.00 85.00 -17,000
RoperTechnologies Inc
RoyalLondonUnitTrust EthicalBondZInc
21,000 23,817 20,916.00 25,947.16 20,916.00 20,966.40 :
50.40
25,947.16 25,947.16 60
-21,000
60 25,159.00 - 788.16
RTXCorp
RufferInvestmentCo
8,700 19,062 23,751.00 28,350.41 -
:
28,350.41
19,062.00
28,350.41
23,751.00
340 340
8,700
32,106.00
24,143.00
3,755.59
392.00
Schroder Investment Management Global Energy
TransitionQinc 75,000 40,313 31,995.00 31,995.00 28,815.00 : 3,180.00 -75,000
SchroderOrientalIncomeFund
ShellPic
SiemansAGNPV
Smith&NephewPic
SmithsonInvestmentTrust Plc
SyscoCorpNPV
14,750
1,100
240
2,000
2,900
480
29,257
3,128
20,023
31,650
35,350
25,671
38,424.00
31,493.00
36,183.00
19,580.00
40,020.00
28,490.00
4,522.88
19,580.00
11,040.00
28,490.00
5,369.47
19,116.05
11,424.00
26,036.70
-
-
:
-
846.59
463.95
384.00
2,453.30
29,257.00
3,128.00
17,520.12
25,598.28
38,424.00
31,493.00
31,660.12
28,980.00
-30
-2,000
-800
-480
14,750
1,100
210
2,100
38,498.00
26,846.00
36,120.00
30,198.00
- 74,00
4,647.00
4,459.88
1,218.00
TexasInstrumentsInc
ThermoFisherScientific Inc
Treasury4 1/4%Stock2036
TreasuryS/8%Bonds2035
Treasury7/8%Bonds2046
Treasury7/8%GreenGilt2033
UnileverPic
VestasWindSystems
Visa Inc
64
34,000
40,000
46,000
24,500
900
1,100
160
22,439
34,578
25,212
22,034
17,603
13,679
29,508
23,835
29,068.00
33,566.00
26,738.00
22,083.00
18,174.00
37,260.00
23,727.00
34,323.00
28,371.72 22,083.00
8,694.00
23,727.00
22,052.33
10,072.85
11,865.95
-
-
:
:
:
30.67
:
1,378.85
11,861.05
-
28,371.72
22,439.00
34,578.00
25,212.00
17,603.00
10,487.23
23,835.00
28,371.72
29,068.00
33,566.00
26,738.00
18,174.00
28,566.00
34,323.00
180
~46,000
-210
-1,100
180
64
34,000
40,000
24,500
690
160
21,568.00
20,556.00
33,412.00
27,593.00
18,824.00
32,837.00
41,387.00
-
-
-
6,803.72
8,512.00
154,00
855.00
650,00
4,271.00
7,064.00
VontobelFundManagement TwentyfourAbsolute
ReturnCredAQG 290 27,808 28,278.00 27,808.00 28,278.00 290 28,881.00 603.00
£ 1,813,812.00__—s £ 485,814.74 = £: $52,192.94 £€ 523,665.05 28,527.89 £ 1,468,770.60 £ 1,747,433.80 £ 1,726,766.00 (£20,66780)
LessConversions 61,780.32 61,780.32 61,780.32
£ 424,034.42 £ 490,412.62 £ 461,884.73
Netproceeds £ 37,850.31

Interest

Thorntons LLP

Thorntons LLP
Interest to 15.05.24 149.95
Interest to 15.11.24 196.06
Rathbones
Interest to 25.06.24 178.61
Interest to 25.09.24 98.85
Interest to 23.12.24 67.04
Interest to 26.03.25 84.54
£ 775.05
Thorntons Fees
Administration Fee to 31.05.24 £ 2,199.60
Administration Fee to 30.06.24 2,199.60
Administration Fee to 31.07.24 2,199.60
Administration Fee to 31.08.24 2,199.60
Administration Fee to 31.09.24 2,199.60
Administration Fee to 31.10.24 2,199.60
Administration Fee to 30.11.24 2,199.60
Administration Fee to 30.12.24 2,199.60
Administration Fee to 31.01.25 2,199.60
Administration Fee to 28.02.25 2,199.60
Administration Fee to 31.03.25 2,199.60
Administration Fee to 30.04.25 2,204.40
£ 26,400.00

Thorntons Fees

Administration Fee to 31.05.24 Administration Fee to 30.06.24 Administration Fee to 31.07.24 Administration Fee to 31.08.24 Administration Fee to 31.09.24 Administration Fee to 31.10.24 Administration Fee to 30.11.24 Administration Fee to 30.12.24 Administration Fee to 31.01.25 Administration Fee to 28.02.25 Administration Fee to 31.03.25 Administration Fee to 30.04.25

Dividend Income

==> picture [474 x 696] intentionally omitted <==

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |03/05/2024|ASSA|Abloy|NPV|193.47| |08/05/2024|ASML|Holdings|NV|63.64| |09/05/2024|M&G|Plc|1,584.00| |09/05/2024|Montanaro|UK|Smaller|Companies|Investment|Trust|252.58| |09/05/2024|Franklin|Templeton|Global|Funds|Plc|Gbl|Short|Dated|Blue|Chip|54.08| |13/05/2024|Schroder|Oriental|Income|Fund|295.00| |15/05/2024|Rentokil|Initial|Plc|385.45| |15/05/2024|Accenture|Plc|91.51| |15/05/2024|Abbott|Laboratories|NPV|125.29| |16/05/2024|Prudential|Plc|347.64| |20/05/2024|Murray|International|Trust|Plc|516.00| |21/05/2024|Lloyds|Banking|Group|Plc|837.20| |22/05/2024|Smith|&|Nephew|Plc|369.80| |24/05/2024|Reckitt|Benckiser|Plc|637.45| |31/05/2024|Liontrust|Investments|Monthly|Income|Bond P|Gross|Inc|122.50| |31/05/2024|Greencoat|UK|Wind|Plc|575.00| |04/06/2024|Visa|Inc|55.22| |05/06/2024|Genuit|Group|Plc|506.30| |07/06/2024|Admiral|Group|Plc|460.20| |07/06/2024|Admiral|Group|Plc|215.80| |07/06/2024|Unilever|Plc|330.66| |10/06/2024|Franklin|Templeton|Global|Funds|Plc|Gbl|Short|Dated|Blue|Chip|58.40| |13/06/2024|Microsoft|Corp|74.29| |17/06/2024|Alphabet|Inc|37.36| |17/06/2024|Estee|Lauder|Cos|66.04| |17/06/2024|Nextera|Energy|Inc|161.47| |24/06/2024|BlackRock|Inc|NPV|170.26| |24/06/2024|Shell|Plc|296.34| |25/06/2024|CME|Group|Inc|160.70| |28/06/2024|Royal|London|Asset|Management|Short|Duration|Global|Index|Linked|Z|Inc|94.83| |28/06/2024|Aberdeen|OEIC V|Global|Index|Linked|BondS|Inst!|339.82| |28/06/2024|M&G|Securities|Ltd|Global|Macros|Bond|PP|Inc|419.42| |28/06/2024|Royal|London|Unit|Trust|Ethical|Bond|Z|Inc|247.25| |28/06/2024|Bp|Plc|295.49| |28/06/2024|HICL|Infrastructure|Co|Ltd|121.10| |28/06/2024|HICL|Infrastructure|Co|Ltd|189.41| |28/06/2024|Booz|Allen|Hamiltons|Holdings|Corp|80.08| |30/06/2024|Liontrust|Investments|Monthly|Income|Bond|P|Gross|Inc|122.50| |01/07/2024|Coca-Cola|Co|187.60| |01/07/2024|Vontobel|Fund|Management|Twentyfour|Absolute|Return|Cred|292.90| |05/07/2024|Bluebay|Funds|Global|Inv Gr|Corp|Bond|S|Inc|455.02| |05/07/2024|Franklin|Templeton|Global|Funds|Plc|GbI|Short|Dated|Blue|Chip|51.09| |12/07/2024|Persimmon|Plc|680.00| |15/07/2024|Thermo|Fisher|Scientific|Inc|16.25| |19/07/2024|Experian|Plc|307.53| |25/07/2024|Compass|Group|194.40| |26/07/2024|Sysco|Corp|NPV|160.85| |31/07/2024|Liontrust|Investments|Monthly|Income|Bond P|Gross|Inc|122.50|

----- End of picture text -----

Dividend Income (Contd)
31/07/2024 JPMorgan Chase & Co 166.44
31/07/2024 Treasury 7/8% Green Gilt 2033 107.19
01/08/2024 Treasury 5/8% Bonds 2035 125.00
01/08/2024 Treasury 7/8% Bonds 2046 201.25
01/08/2024 Hermes Investment Management US SMID Equity L2 Inc 6.18
02/08/2024 Schroder Oriental Income Fund 295.00
06/08/2024 Franklin Templeton Global Funds Plc Gbl Short Dated Blue Chip 56.21
07/08/2024 ASML Holdings NV 55.26
09/08/2024 Monatanaro UK Smaller Cos Investment Trust 263.19
15/08/2024 Abbott Laboratories NPV 122.93
16/08/2024 Murray International Trust Plc 300.00
16/08/2024 Halma Plc 184.80
16/08/2024 Accenture Plc 90.00
19/08/2024 Novo-Nordisk AS 60.93
30/08/2024 Greencoat UK Wind Plc 575.00
30/08/2024 Booz Allen Hamiltons Holdings Corp 76.83
30/08/2024 Schroder Investment Management Global Energy Transition Q Inc 346.28
31/08/2024 Liontrust Investments Monthly Income Bond P Gross Inc 122.50
03/09/2024 Visa Inc 53.61
05/09/2024 RTX Corp 137.56
05/09/2024 Franklin Templeton Global Funds Plc GbI Short Dated Blue Chip 59.92
06/09/2024 Unilever Plc 332.64
07/09/2024 Treasury4 1/4% Stock 2036 722.50
09/09/2024 AstraZeneca Plc 232.80
12/09/2024 Microsoft Corp 72.81
16/09/2024 Nextera Energy Inc 155.08
16/09/2024 Alphabet Inc 35.91
16/09/2024 Rentokil Initial Plc 205.40
20/09/2024 Bp Plc 314.59
23/09/2024 BlackRock Inc NPV 162.42
23/09/2024 Shell Plc 287.65
25/09/2024 CME Group Inc 152.57
26/09/2024 Rio Tinto Plc 765.10
30/09/2024 M&G Securities Ltd Global Macros Bond PP Inc 239.67
30/09/2024 Jupiter Unit Trust Managers Japan Income U2 Inc 174.12
30/09/2024 Aberdeen OEIC VGlobal Index Linked BondS Instl 293.54
30/09/2024 Liontrust Investments Monthly Income Bond P Gross Inc 122.50
30/09/2024 HICL Infrastructure Co Ltd 40.17
30/09/2024 HICL Infrastructure Co Ltd 268.83
01/10/2024 Coca-Cola Co 178.42
02/10/2024 Genuit Group Plc 250.10
02/10/2024 Vontobel Fund ManagementTwentyfour Absolute Return Cred 287.10
04/10/2024 Admiral Group Plc 513.00
04/10/2024 Admiral Group Plc 197.00
04/10/2024 Franklin Templeton Global Funds Plc Gbl Short Dated Blue Chip 51.92
07/10/2024 Bluebay Funds Global InvGr Corp BondS Inc 432.14
14/10/2024 Ruffer Investment Co 269.70
15/10/2024 Thermo Fisher Scientific Inc 16.14
17/10/2024DiageoPlc 439.24

Dividend Income (Contd)

23/10/2024 Prudential Plc 159.85
25/10/2024 Sysco Corp NPV 159.35
31/10/2024 Liontrust Investments Monthly Income BondP Gross Inc 122.50
31/10/2024 JPMorgan Chase & Co 179.11
07/11/2024 ASML Holdings NV 53.56
07/11/2024 Franklin Templeton Global Funds Plc Gbl Short Dated Blue Chip $7.75
08/11/2024 Montanaro UK Smaller Companies Investment Trust 258.95
08/11/2024 Persimmon Plc 340.00
08/11/2024 Smith & Nephew Plc 222.00
14/11/2024 ASSA Abloy NPV 188.33
15/11/2024 Accenture Plc 104.47
18/11/2024 Murray International Trust Plc 300.00
18/11/2024 Abbott Laboratories NPV 125.28
29/11/2024 Schroder Oriental Income Fund 885.00
29/11/2024 Greencoat UK Wind Plc 575.00
03/12/2024 Schroder Investment Management Global EnergyTransition Q Inc 33.45
03/12/2024 Visa Inc 62.84
03/12/2024 Liontrust Investments Monthly Income BondP Gross Inc 122.50
04/12/2024 Booz Allen Hamiltons Holdings Corp 79.97
06/12/2024 Unilever Plc 252.75
12/12/2024 RTX Corp 141.90
12/12/2024 Microsoft Corp 93.79
16/12/2024 Nextera Energy Inc 161.84
18/12/2024 Coca-Cola Co 187.42
18/12/2024 Alphabet Inc 37.32
19/12/2024 Shell Plc 297.33
20/12/2024 Bp Plc 516.26
23/12/2024 BlackRock Inc NPV 171.50
27/12/2024 CME Group Inc 162.53
31/12/2024 HICL Infrastructure Co Ltd 237.93
31/12/2024 HICL Infrastructure Co Ltd 71.07
02/01/2025 Royal London Asset Management Short Duration Global Index Linked Z Inc 279.91
06/01/2025 Liontrust Investments Monthly Sust Future Month BondP Inc 122.50
06/01/2025 M&G Securities Ltd Global Macros Bond PP Inc 228.90
06/01/2025 Vontobel Fund Management Twentyfour Absolute Return Cred 324.80
06/01/2025 Aberdeen OEICV Global Index Linked BondS Inst 299.16
09/01/2025 Bluebay Funds Global Inv Gr Corp BondS Inc 507.09
15/01/2025 Thermo Fisher Scientific Inc 17.26
16/01/2025 CME Group Inc 843.81
17/01/2025 Roper Technologies Inc 34.30
24/01/2025 Sysco Corp NPV 166.95
31/01/2025 Halma Plc 126.00
31/01/2025 JPMorgan Chase & Co 144.70
31/01/2025 Treasury 5/8% Bonds 2035 125.00
31/01/2025 Treasury 7/8% Green Gilt 2033 107.19
06/02/2025 Liontrust Investments Monthly Sust Future Month BondP Inc 154.23
07/02/2025 Montanaro UK Smaller Companies Investment Trust 377.81
11/02/2025 Texas Instruments Inc 167.30
11/02/2025 ExperianPlc 151.49
Dividend Income (Contd)
12/02/2025 JPMorgan Japanese Investment Trust 567.00
14/02/2025 Schroder Oriental Income Fund 295.00
17/02/2025 Murray International Trust Plc 300.00
17/02/2025 Accenture Plc 105.23
17/02/2025 Abbott Laboratories NPV 134.72
19/02/2025 SiemansAG NPV 757.37
27/02/2025 Compass Group 377.04
28/02/2025 Greencoat UK Wind Plc 575.00
03/03/2025 ASML Holdings NV 74.31
03/03/2025 Visa Inc 63.14
04/03/2025 Booz Allen Hamiltons Holdings Corp 85.92
06/03/2025 Liontrust Investments MonthlySust Future Month BondP Inc 122.84
07/03/2025 Treasury 4 1/4% Stock 2036 722.50
13/03/2025 Microsoft Corp 92.11
17/03/2025 Alphabet Inc 36.57
17/03/2025 Nextera Energy Inc 173.83
20/03/2025 RTX Corp 139.88
24/03/2025 BlackRock Inc NPV 170.06
24/03/2025 AstraZeneca Plc 504.00
24/03/2025 Shell Plc 305.69
26/03/2025 CME Group Inc 172.01
28/03/2025 Bp Plc 506.44
28/03/2025 Unilever Plc 260.48
31/03/2025 HICL Infrastructure Co Ltd 92.70
31/03/2025 HICL Infrastructure Co Ltd 216.30
01/04/2025 Novo-Nordisk AS 212.24
01/04/2025 Jupiter Unit Trust Managers Japan Income U2 Inc 408.74
01/04/2025 Aberdeen OEICV Global Index Linked BondS Inst 339.07
01/04/2025 Liontrust Investments Monthly Sust Future Month BondP Inc 122.84
02/04/2025 Vontobel Fund Management Twentyfour Absolute Return Cred 284.20
08/04/2025 Bluebay Funds Global Inv Gr CorpBondS Inc 459.53
08/04/2025 Ruffer Investment Co 247.95
10/04/2025 Coca-Cola Co 193.49
15/04/2025 Thermo Fisher Scientific Inc 17.59
17/04/2025 Rio Tinto Plc 1,003.13
22/04/2025 RoperTechnologies Inc 31.30
25/04/2025 Sysco Corp NPV 155.57
30/04/2025 JPMorgan Chase & Co 150.59
30/04/2025 ASSA Abloy NPV 223.13
45,280.29