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2025-04-05-accounts

LEGAL AND ADMINISTRATIVE INFORMATION

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Charity Number (Scotland) $C003495
Principal Address Thorntons Law LLP
Whitehall House
33 Yeaman Shore
Dundee
DD1 4B)
Henderson Black & Co
Edenbank House
Cupar
Fife
KY15 SHW
Bankers Royal Bank of Scotiand
3 High Street
Dundee
DD1 SLY
Bank of Scotland
3 The Cross
Cupar
KY15 4BP
Investment Managers Evelyn Partners
Third Floor, Atria Two
148 Morrison Street
Edinburgh
EH38EX

1

MRS M A LASCELLES CHARITABLE TRUST

TRUSTEES' REPORT

The Trustees present their annual report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and “Accounting and Reporting by Charities: 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)".

Origins

The Trust was established by Deed of Trust dated 15 March 1968 and registered in the Books of Council and Session on 28 June 1968.

Objectives and activities

The purpose of the Trust are general charitable purposes as recognised by the law of Scotland. The Trust operates principally by making grants to other recognised charities. Its objectives are therefore to assist the work of these charities.

During the year to Sth April 2025 the Trustees' objectives remained unchanged. However, they recognise that there has been an impact on their plans from the effects of recent turbulence in the markets.

It provided grants to other charities as detailed in Note 7 on page 11. These were in line with planned expenditure.

Accounts

The Accounts show the overall financia! position of the Trust at 5 April 2025 including the net movement of funds during the year. Corresponding figures for the year to Sth April 2024 are also shown.

Financial review

As shown in the Balance Sheet, the total assets of the Trust, net of liabilities at the balance sheet date, were £2,253,987 (2024 - £2,382.851).

Total income for the year was £63,702 (2024 - £66,227). Total payments to charities were £56,200 (2024 - £51,000). Total other costs comprised Investment Management fees of £ 16,092 (2024 - £14,871); Trust management fees of £14,100 (2024 - £12,900) and Independent Examination fee of £696 (2024 - £690).

Investment Policy

The Trustees have issued an investment policy statement to the investment managers. Both the policy and performance are reviewed annually.

|

TRUSTEES' REPORT (Contd)

Reserves Policy

The reserves represent the funds arising from past operations. The Trustees are satisfied these funds are sufficient for the continuation of the Trust for the foreseeable future

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. They recognise that turbulence in the markets has brought new challenges which will impact the performance of the Trust assets for some time, but they remain satisfied that the systems in place to mitigate the Trust's exposure to the major risks remain appropriate and sufficient

Connected Bodies

Thorntons Law LLP carry out the day to day administration work for the Trust. They are a connected body by virtue of Pagan Osborne & Grace Trustees Ltd being part of the Thorntons Law LLP group.

Legal Status

The legal status of the Trust is a single Scottish Charitable Trust; no company or equivalent exists.

Trustees

The Trustees during the year were:

A list of the current directors of the corporate trustee can be viewed on the Companies House website

Any new appointments are made by the existing trustees, taking into account the appointee’s interest in the aims and work of the Trust. The Trust provides previous Accounts and minutes of meetings as part of its induction procedures for new trustees

The trustees are responsible for all decisions relating to the Trust's organisation and work.

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

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Trustee
S041 £4 /JO2 /
Date
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3

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MRS M A LASCELLES CHARITABLE TRUST

| report on the accounts of the charity for the year ended 5 April 2025 which are set out on pages 5S to 12.

Respective Responsibilities of the 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 (as amended). The charity’s 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 and report on the accounts under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

This report is made to the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that | might state to the trustees those matters | am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Trust andthe trustees for my work or for this report.

Basis of Independent Examiner’s Statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). 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 seeking 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:

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

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05/01/2026
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4

MRS M A LASCELLES CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES For the year ended Sth April 2025

2025 2024
Notes £ = £ ff
income
Investments 3 63,178.08 65,723.44
Other income 4 524.40 503.50
Total Income 63,702.48 66,226.94
Expenditure
Raising Funds 6 16,092.11 14,871.30
Charitable Activities 7 70,996.00 64,590.00
Total! Expenditure 87,088.11 79,461.30
Net (losses)/gains on investments 10 (105,479.41) 180,670.67
Net (expenditure)/income and netmovement in funds (128,865.04) 167,436.31
Reconciliation ofFunds
Fund balances at 6 April 2024 2,382,851.92 2,215,415.61
Fundbalancesasat5April2025 2,253,986.88 2,382,851.92

All income and expenditure for the current and comparative year are in respect of unrestricted funds.

5

MRS M A LASCELLES CHARITABLE TRUST

BALANCE SHEET as at 5th April 2025

2025 2024
Notes £ £ £ £
Fixed Assets
Investments 11 2,247,007.37 2,368,578.89
Current Assets
Cash at bank and in hand 2,634.68 10,498.09
Cash held with Evelyn Partners 3,940.96 3,439.73
Debtors 12 1,099.87 1,025.21
7,675.51 14,963.03
Creditors: amounts falling due
within one year 13 696.00 690.00
Net Current Assets 6,979.51 14,273.03
Total Assets less current liabilities 2,253,986.88 2,382,851.92
Income Funds
Unrestricted Funds 2,253,986.88 2,382,851.92
2,253,986.88 2,382,851.92

The financial statements were approved by the Trustees on SVUZl2/20ot a ,/AKROLAL

Trustee

6

MRS M A LASCELLES CHARITABLE TRUST

STATEMENT OF CASHFLOW For the year ended 5th April 2025

2025 2024
Net cash used in operating activities (see below) {86,632.37} (79,934.80)
Cash Flows from Investing Activities
Interest & Dividends 63,178.08 66,226.94
Proceeds from sale of investments 369,569.43 243,687.80
Purchase of investments (358,519.25) (242,998.25)
Changes in cash held for investment 5,041.93 26,181.75
Net cash provided by investing activities 79,270.19 93,098.24
Changes in cash&cash equivalents thisyear (7,362.18) 13,163.44
Cash& cash equivalents broughtforward 13,937.82 774.38
6,575.64 13,937.82
———————— _——————————

Reconciliation of net movements in funds to net cash flow from operating activities

2025 2024
Net movement in funds (128,865.04) 167,436.31
Deduct gains/add back losses on investments 105,479.41 (180,670.67)
Deduct investment and interest income (63,178.08) (66,226.94)
Increase in debtors (74.66) (503.50)
Increase in creditors 6.00 30.00
Net cash used in operating activities (86,632.37) (79,934.80)
Analysis ofcash & cash equivalents
Cash on Deposit 2,634.68 10,498.09
Cash held with Evelyn Partners 3,940.96 3,439.73
Totalcashandcashequivalents 6,575.64 13,937.82

z

MRS M A LASCELLES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

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1) Accounting Policies
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Charity Information Mrs MA Lascelles Charitable Trust is a charity registered in Scotland. The registered office is Thorntons Law LLP, Whitehall House, 33 Yeaman Shore, Dundee, DD1 4B).

The Accounts are also prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

Mrs M A Lascelles Charitable Trust meets the definition of a public benefit entity under FRS102.

The Trust's transactional currency is pounds sterling, and rounding is to the nearest penny.

The Trustees consider that there are no material uncertainties that would lead them to question the Trust's ability to continue as a going concern.

The estimates and underlying assumption are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

1.3) Funds structure All of the charity funds are unrestricted. Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects.

Charitable activities included all expenditure associated with grant making.

8

MRS M A LASCELLES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1) Accounting Policies (Contd)

1.6) Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Basic financial assets (which include debtors and cash and bank balances) and basic financial liabilities (which include creditors) are initially measured at the amount receivable or payable including any transaction costs and are subsequently carried at amortised cost using the effective interest method. Basic financial assets/liabilities, classified as receivable/payable within one year, are not amortised.

There were no guarantees or contingent liabilities at 5 April 2025 (2024 - none).

1.10) Secured Loans

There were no loans or liabilities secured on the Trust's assets at S April 2025 (2024 - none}.

2) Critical Accounting Estimates and Judgements

In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.In preparing these financial statements, the trustees have made the following judgements:

Accruals

Trustees estimate the requirements for accruals using post year end information. This identifies costs that are expected to be incurred for services provided by other parties. Accruals are only released when there is a reasonable expectation that these costs will not be invoiced in the future

9

MRS M A LASCELLES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

3) = Investments
Schedule 2025 2024
£ £
Dividends Received 1 61,660.06 65,616.36
Bank Interest 2 1,518.02 107.08
63,178.08 65,723.44
4) Other Income
2025 2024
= £
Tax Refund 524.40 503.50
524.40 $03.50
5) RaisingFunds
2025 2024
£ £
investment Management Fees = 16,092.11 14,871.30
16,092.11 14,871.30
6) Charitable Activities
2025 2024
£ £
Grants (See note 7) 56,200.00 51,000.00
Legal and Professional Fees 4 14,100.00 12,900.00
Independent Examination Fee 696.00 690,00
70,996.00
a
64,590.00

10

MRS M A LASCELLES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5S APRIL 2025

7) Grants

Grants
2025 2024
£ £
The Whitley Fund for Nature 5,000.00 5,000.00
GlobalCanopy 4,000.00 -
Perth & Kinross Countryside Trust 3,000.00 1,500.00
Action Aid 2,000,00 1,450.00
British Red Cross 2,000.00 3,000.00
ButterflyConservation Trust 2,000.00 1,500.00
Childrens 1st 2,000.00 -
Home Start Edinburgh 2,000.00 1,500.00
Hopeand HomesforChildren 2,000.00 2,000.00
Macmillan CancerSupport 2,000.00 1,500.00
ScotlandsCharityAmbulance 2,000.00 2,000.00
The Prison Phoenix Trust 2,000.00 2,000.00
Worldwide Cancer Research Trust 2,000.00 2,000,00
CHASEAfrica 1,500.00 -
Firefly International 1,500.00 :
Hamlin Fistula UK 1,500.00 -
PKAVS 1,500.00 1,500.00
Scottish Ballet 1,500.00 1,500.00
Scottish Outdoor Education Centres 1,500,00 -
Shelter NationalCampaign 1,500.00 =
Trauma Informed 1,500.00 1,000.00
Alzheimers Research UK 1,000.00 1,000.00
BookTrust 1,000.00 1,000.00
Edinburgh CyreniansTrust 1,000.00 1,500.00
Ethiopiaid 1,000.00 1,000.00
Gurkha Welfare Trust 1,000.00 1,000.00
National Galleries ofScotland 1,000.00 1,000.00
SSPCA 1,000.00 .
Survival InternationalTrust 1,000.00 750.00
The Brooke Hospital forAnimals 1,000.00 -
Zane Zimbabwe 1,000.00 1,000.00
Francis Bacon Research Trust 750.00 $00.00
Music in Blair Atholl 750.00 750.00
White Eagle Lodge 700,00 500.00
Perth Choral Society 300.00 300.00
Army Benevolent Fund - 1,000.00
Empty Kitchens Full Hearts - 1,000.00
Give a Dog a Bone - 750.00
The Royal Conservatoire of Scotland - 1,000.00
The Social Bite Fund - 2,000.00
The Toy Box Charity . 1,500.00
TheWheely Boat Trust - 1,000.00
Trellis Scotland - 1,000.00
United Kingdom for UNHCR - 1,000.00
Woman and Children First UK - 1,500.00
Womankind Worldwide - 1,500.00
56,500.00 51,000.00
Less: Historical Commitment Cancellation (300.00) :
56,200.00 51,000.00

11

MRS M A LASCELLES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5S APRIL 2025

8) Trustees

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

9} Employees There were no employees during the year {2024 - none).

10} Net (losses)/gains oninvestments
2025 2024
£
Revaluation of Investments (See note 11} (102,850.99) 179,673.82
{Loss}/gain on sale of investments (2,628.42) $996.85
(105,479.41) 180,670.67
11) Fixed asset investments
2025 2024
£ £
Valuation at 6 April 2024 2,368,578.89 2,214,779.52
Purchases 358,519.25 242,998.25
Sales (372,197.85) (242,690.95)
(Loss)/gain on Revaluation ofinvestments (102,850.99) 179,673.82
Changes in cash held for investrnent (5,041.93) (26,181.75)
Valuation as at5 April 2025 2,247,007.37
2,368,578.89
a

The historical cost of Investments at 5 April 2025 was £1,919, 703 (2024 - £1,868,451).

12) Debtors 2025 2024
£ £
Tax Refund 1,099.87 1,025.21
13) Creditors: amounts falling duewithinoneyear
2025 2024
£ £
Independent Examination Fee 696.00
690.00
SS”

14) Related Parties Thorntons Law LLP carry out administration work for the Trust and are deemed to bea related party by virtue of Pagan Osborne & Grace Trustees Ltd being part of the Thorntons Law LLP group.

Total Fees paid to Thorntons Law LLP for the year were £14,100 (2024 - £12,900). No fees were outstanding at the year end (2024 - none)

12

Mrs M A Lascelles Charitable Trust Schedule1

Dividend Income

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|||||||||| |---|---|---|---|---|---|---|---|---| |11/04/2024|GSK|Plc|266.24| |11/04/2024|Vanguard|Investment|Series|US|Govt|Bd|Grythe| |17/04/2024|Diageo|Plc|235.57| |30/04/2024|TB|Evenlode|Global|Income|495|38| |30/04/2024|Ninety One|Series|Diversified|Inc|Fd|158.63| |30/04/2024|BlackRock|Continental|European|Income|Fd|113.89| |08/05/2024|Fidelity|Fund|Global|Dividend|Fund|$90.53| |09/05/2024|M&G|Plc|2,455.20| |10/05/2024|Schroder|Asian|Total|Return|Investment|Co|818.23| |16/05/2024|Supermarket|REIT|Income|Plc|516.38| |22/05/2024|London|Stock|Exchange|Group|Plc|412.36| |23/05/2024|Aviva|Plc|1,119.46| |24/05/2024|Greggs|Plc|1,087.90| |24/05/2024|Reckitt|Benckiser|Plc|538.94| |31/05/2024|M&G|Investment|Fds|UK|Ind-Lkd|Corp|Bond|416.35| |31/05/2024|Henderson|UK &|Europe|Funds|Strategic|Bond|Fd|441.68| |31/05/2024|Ninety|One|Series|Diversified|Inc|Fd|164.48| |31/05/2024|Jupiter|Asian|income|Fund|865.66| |07/06/2024|Unilever|Pic|209.42| |13/06/2024|Relx|Plc|668.80| |24/06/2024|Shell|Pic|$23.98| |28/06/2024|Ninety One|Series|Diversified|Inc|Fd|198.24| |28/06/2024|BP|Plc|488.70| |28/06/2024|Vontobel|Fund|-|Twentyfour|Hour|Absolute|Rtn|356.89| |28/06/2024|HICL|[Infrastructure]|581.21| |01/07/2024|Invesco|Perpetual|Tactical|Bond|Fund|1,549.45| |01/07/2024|Link|Fund|Solutions MW|Nippon|Yield|1,036.86| |01/07/2024|Bellway|Plc|137.60| |05/07/2024|Whitbread|Plc|618.31| |11/07/2024|GSK|Pic|249.60| |12/07/2024|3i|infrastructure|Fund|2,336.74| |12/07/2024|Vanguard|Investment|Series|US Govt|Bd|Se0i5| |19/07/2024|Experian|Plc|285,11| |26/07/2024|Templeton|Emerging|Markets|Investment|Trust|1,142.25| |31/07/2024|Ninety|One|Series|Diversified|Inc|Fd|183.75| |31/07/2024|BlackRock|Continental|European|Income|Fd|2,320.06| |31/07/2024|TB|Evenlode Global|Income|439.52| |01/08/2024|TR|Property|Investment|Trust|1,702.47| |08/08/2024|Fidelity|Fund|Global|Dividend|Fund|590.53| |16/08/2024|Supermarket|REIT|Income|Plc|516.38| |30/08/2024|Jupiter Asian|Income|Fund|700.77| |30/08/2024|Fundsmith|Equity|Fund|80.78| |30/08/2024|Polar|Capital|Healthcare|Trust|206.16| |30/08/2024|Henderson|UK &|Europe|Funds|Strategic|Bond|Fd|477.48| |30/08/2024|Ninety One|Series|Diversified|Inc|Fd|146.52|

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13

Dividend Income (Contd)

:

05/09/2024 Relx Pic

05/09/2024 Relx Pic 291.20 06/09/2024 Unilever Plc 210.67 09/09/2024 AstraZeneca Plc 291.00 13/09/2024 Reckitt Benckiser Plc 373.86 18/09/2024 London Stock Exchange Group Plc 213.20 19/09/2024 SSE Plc 622.00 20/09/2024 BP Plc 520.28 23/09/2024 Shell Plc 508.62 30/09/2024 HICL[Infrastructure] 75.19 30/09/2024 Ninety One Series Diversified Inc Fd 197.02 30/09/2024 Vontobel Fund - Twentyfour Hour Absolute Rtn 364.18 30/09/2024 HICL Infrastructure 503.21 04/10/2024 Greggs Plc 240.35 07/10/2024 Henderson Smaller Companies Investment Trust 1,096.88 10/10/2024 GSK Plc 249.60 11/10/2024 Ruffer Investment Co Ptg Preference Shares 523.13 15/10/2024 Vanguard Investment Series US Govt Bd 588.05 17/10/2024 Aviva Ple 597.38 17/10/2024 Diageo Pic 347.14 18/10/2024 M&G Plc 1,227.60 31/10/2024 TB Evenlode Global Income 439.52 31/10/2024 BlackRock Continental European Income Fd 337.90 31/10/2024 Ninety One One Series Diversified Inc Fd 146.56 08/11/2024 Fidelity Fund Global Dividend Fund 590.53 15/11/2024 Supermarket REIT Income Plc 521.49 29/11/2024 Jupiter Asian Income Fund 1,064.07 29/11/2024 Henderson UK & & Europe Funds Strategic Bond Fd 462.45 29/11/2024 M&G Investment Fds UK Ind-Lkd Corp Bond 493.10 29/11/2024 Ninety One One Series Diversified Inc Fd 155.61 06/12/2024 Whitbread Plc 357.81 06/12/2024 Unilever Pic 208.79 19/12/2024 Shell Pic 525.73 20/12/2024 BP Plc $41.45 31/12/2024 HICL[[Infrastructure]] 445.37 31/12/2024 Invesco Perpetual Tactical Bond Fund 1,382.84 31/12/2024 Link Fund Solutions MW MW Nippon Yield ba 31/12/2024 Ninety One Series Diversified Inc Fd 148.59 31/12/2024 Vontobel Fund - Twentyfour Twentyfour Hour Absolute Absolute Rtn 404.23 31/12/2024 HICL Infrastructure 133.03 08/01/2024 Bellway Pic 326.80 09/01/2024 GSK Plc 249.60 10/01/2024 TR Property Investment Trust 957.11 13/01/2025 3i Infrastructure Fund 2,484.02 15/01/2024 Vanguard Investment Series US Govt Bd 629.05 31/01/2025 TB Evenlode Global Income 439.52 31/01/2025 Templeton Emerging Markets Investment Trust 761.50 31/01/2025 BlackRock Continental European Income Fd 329.71 31/01/2025 Ninety One Series Diversified Inc Fd 163.26

06/09/2024 Unilever Plc

09/09/2024 AstraZeneca Plc

04/10/2024 Greggs Plc

07/10/2024 Henderson Smaller Companies Investment Trust 10/10/2024 GSK Plc

31/10/2024 TB Evenlode Global Income

31/10/2024 BlackRock Continental European Income Fd 31/10/2024 Ninety One One Series Diversified Inc Fd 08/11/2024 Fidelity Fund Global Dividend Fund 15/11/2024 Supermarket REIT Income Plc 29/11/2024 Jupiter Asian Income Fund

29/11/2024 Henderson UK & & Europe Funds Strategic Bond Fd

29/11/2024 M&G Investment Fds UK Ind-Lkd Corp Bond

29/11/2024 Ninety One One Series Diversified Inc Fd 06/12/2024 Whitbread Plc

06/12/2024 Unilever Pic

20/12/2024 BP Plc

31/12/2024 HICL[[Infrastructure]] 31/12/2024 Invesco Perpetual Tactical Bond Fund 31/12/2024 Link Fund Solutions MW MW Nippon Yield 31/12/2024 Ninety One Series Diversified Inc Fd 31/12/2024 Vontobel Fund - Twentyfour Twentyfour Hour Absolute Absolute Rtn 31/12/2024 HICL Infrastructure

08/01/2024 Bellway Pic

09/01/2024 GSK Plc

14

Dividend Income (Contd)
07/02/2025 Experian Plc 140.45
10/02/2025 Fidelity Fund Global Dividend Fund 590.53
27/02/2025 SSE Plc 329.66
28/02/2025 Fundsmith Equity Fund 107.81
28/02/2025 Ninety One Series Diversified Inc Fd 163.17
28/02/2025 Janus Henderson Strategic Bond G Dis a
28/02/2025 Jupiter Asian Income Fund 540.42
28/02/2025 Supermarket REIT Income Plc 521.49
07/03/2025 Henderson Smaller Companies Investment Trust 421.88
24/03/2025 Shell Pic $40.52
24/03/2025 AstraZeneca Plc 630.00
28/03/2025 Unilever Plc 215.18
28/03/2025 BP Plc 531.15
31/03/2025 HICL Infrastructure 404.88
31/03/2025 Ninety One Series Diversified Inc Fd 219.76
31/03/2025 Vontobel Fund - Twentyfour Hour Absolute Rtn 458.86
31/03/2025 HICLinfrastructure 173.52
01/04/2025 SPDR S&P 500 UCITS ETF 177.87
04/04/2025 Ruffer InvestmentCo Ptg Preference Shares 480.94
61,660.06

15

Mrs M A Lascelles Charitable Trust Schedule 2

Interest
Thorntons LLP
Interest to 15.05.24 108.04
Interest to 15.11.24 86.90
Evelyn Partners
Interest to 30.04.24 108.10
Interest to 31.05.24 126.80
Interest to 30.06.24 115.63
Interest to 31.07.24 113.93
Interest to 31.08.24 132.54
Interest to 30.09.24 103.22
Interest to 31.10.24 85.33
interest to 29.11.24 87.96
Interest to 31.12.24 74.67
Interest to 31.01.25 161.51
Interest to 28.02.25 105.11
Interest to 31.03.25 108.28
£ 1,538.02
Thorntons Fees
Quarterly Fee to 31.05.24 £ 3,300.00
Quarterly Fee to 31.08.24 3,600.00
Quarterly Fee to 30.11.24 3,600.00
Quarterly Fee to 28.02.25 3,600.00
£ 14,100.00
Evelyn Partners Investment Fees
Investment Fee to 15.04.24 & Taisit
investment Fee to 15.05.24 1,301.95
Investment Fee to 15.06.24 1,325.44
Investment Fee to 15.07.24 1,323.76
Investment Fee to 15.08.24 1,332.00
Investment Fee to 15.09.24 1,340.93
LEI Fee 72.00
Investment Fee to 15.10.24 1,344.37
Investment Fee to 15.11.24 1,345.16
Investment Fee to 15.12.24 1,338.84
investment Fee to 15.01.25 1,340.91
investment Fee to 15.02.25 1,347.44
Investment Fee to 15.03.25 1,364.20
£ 16,092.11

16

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