ac NEWPORT WORMIT & FORGAN TRUST Account fof the year to 30 November 2023. Scottish Charlty No. SC003752 30 & 34 Reform Street Dundee DDI IRJ Tel.. 01382 229222 06897a-OOOL
NEWPORT W MIT & FORGAN TRUST Account forthe yearto 30 November ZOZ3. Governing document and appolntmÈnt of Trustees The Newport Wormit & Forgan Trust has existed in it5 present form Since 1958 although its roots go much further back and lie in an organisation which was known as the Newport Wormit & Forgan Nursing Association. Trustees are nominated by the then existing Trustees and their appointrnent confirmed by 8 forma Deed of AssumptiDn. Charitable rpose The Trust eyists to promote the general good of people of all ages in the Parish of Forgan including the Burgh of Newport on Tay 'by furtherinR health relievinR ooverty distress or sickne59 by supplemenlinE but not infringinE upon the work of statutory authorities and by pur5uinE any other charitable objects to benefit people of all ages in that area The Trustees havè the authority to apply the wholo income of the rust and il necessary 10 encroach on capital sf this is considered necessary. The Trustees work in congultation with local Doctors. Minister5 and nursin8 Staff who help to identify pg.nple within the T-ust's area who are in need of some form ol help or assistance. This assistance is provided in a nurnber of ways aAd as the past year's accounts show includes small grants to local Old People's Hlmes and a variety of ninor medical and other items not available to patlents under the National Health Service but of 8reat a5$15tance to these people. T'he links which the Trustees maintain wrth the area's medlcal other services help to ensure that the Trust is able to apply its incDme where it is required. The Trustees received applications lor assistance and Made donations 01 £700 for the year of this account. They conilnue to remind those livlng and working in the local area of the ass15tanTr the charlty Is able to provide. 1ru5tee5'. Tfustees rernuneratfjon and expenses The Trustee¢ did not receive any remuneration or expenses in the year to 30 November 202312022- nill. Page 2
NEWPORT WORMIT & FORGAN TRUST count for the year to 30 November 2023 Icontdl Reserves Pollcv The reserves of the Trust originate from original and subsequent capital donations together with the growth in the value of investments. The Trustees have adopted a reserves policy that ensured the continuin8 ability of the Trust to meet its objertives. Reserves are retained primarily io meet significani requests for financial assistance and stock market risks. The level of free reserves held at 30 November 2023 was £76,331.3112022 - £84.110.29}. Independent Examiner. Inveslment Managprs: Blackadders Wealth Management LLP. 30134 Reform Street. Dundee. DDI IPJ provide advice and portfDIio management services. A J Bell Nominees Ltd have responsibility for custody of the stock and to provide collection and other services. Solicitors and contact address: Blackadders LLP, 30134 Reform Street. Dundee, DDI IRI. Date.. 15 March 2024 Trustee Pa8e 3
NEWPORT WORMIT & FORGAN TRUST Account for the earto 30 November2023. RECEIPTS 2023 2022 Dividends Received per Schedule I 1.905.18 2.098.85 Proceeds of Investment Dis per Schedule 11 osal 24,378.77 16,035.21 26,283.95 18,134.06 PAYMENTS Grants Paid per Schedule111 7.00 3.000.00 Investment Mana per Schedule IV ement C05t5 924.90 1,018.25 Governance Costs per Schedule V 6,404.00 2,910.00 Purchase cost of investments ac per Schedule Vl uired 19,480.03 11,023.56 27,508.93 17,951.81 IDeficitllSurplu5 for the year 1£ 1.224.981 182.25 Page 4
NEWPORT WORMIT & FORGAN TRUST count for th r to 30 November 202 Unrestricted Funds 2023 Unrestricted Funds 2022 Bank and Cash lffi hand Opening Balance IDeficitllSurplus for the year 2,881.29 1£ 1,224.981 2,699.04 182.25 Closing 6alance (per Schedule Vllll 1,656.31 2,881.29 Represented by General Funds 1.656.31 2,881.29 Investments at fair value A J Bell portfolio valuation £ 80,154.00 £ 85,633.00 The Ilabllitles of the charlty at 30 November 2023 3re-. Blackadders LLP their fee for work ir) the trust for the period ol this account of £4,100 less £1,650 alieady paid12022 - £3,290) plus vat. Mcmillan Audit Limited, their fee for assessing Blackadders fee- £19512022 - £1301 plus vat. her fee for Independent Examination of this account of £32512022- £3001. Approved by the Trustees and signed on their behalf Date.. 15 March 2024 Trustee Page 5
RTW Notes to the accounts for the ar to 30 No¥ombÈr 2023. Accounting Policie5 1.1 The Accounts are prepared under the Hi5toric31 C05t Convention. All incorne Is recorded on receipts basis no accrual bein8 made for anticlpated divideTrds. All expendittsre is rOrded as paid. 1.2 Investments are shown IA the account at fair value. Grants paid are as detailed in Schedule111. No remuneration was paid to the Trustees in either this year or the previous one. The Trust has no employee512023 - none). There are no material commitments at the close of this account. Page 6
RT WORM& FORGAN TRL6T Ind ExarnI1 theTru I repDrt on the3cwuntsof the TrusEfor the period endal 3Q Novembei 2023 whith are set otst on paEe5 Z tD 6, This report 15 made to trustees. 0$ a body. in actartsnce the of my eageMent. My work has been undertakeTh to en3ble me to report my ¢)pinion set 04Zt below for no other wrpose. To tFTE fJlSest exlent pemiitted by12w I do not accept OT assume resknbi1Ery to anyon¢ other than the trustees. 85 a boty, lor tny WQTk f¢1 thisrep)rt. Re5pedive responshllitiÈs of the Trnsteesafjd Exarnrritr The Tru5tEes are respDnsible for the preparAth?n ot the accounts In accardance wrth the terrns of thÈ Charitie5 and Trustee Investment IScoilan61 21)J5 and the Chanties Acco4ints1Sctstlandl Re8ulatK)ns 2rx6 la5 amended). The Trustees consderthat Budil reqUwern¥ of Regulavon 10(Illdl of the 2CC6 Acttsurtts Regulatn5 does not apply. It is My reswn5ibiliiy to exarr,ine accounts 35 rUlTl urvjer sertion 4411) Itl of the and to state whether particuEar matters have cometo My attenrtii. Baslsof Independent Examinerfs Statewnert My examination 15 carried out tn accordano with Aegulation 11 of the Acwunts Regulatiorts. An exarninètiort iniludes a of the accouiting Tecords kept by +he TnE5t aftd a comparrsnft of tb.e accounts pre5entÈd wirh those record5. 11 è150 includes consideration of any unu¥Jal items or di5closuTes in the 3CCOUNt& and seeks explanations frorn the Trustees mncernin8 èny rnatter> The prvcedLtrE5 undert2ken do not provKle all evirfence th4t would reqL1ir in an audit. and consequerttty I do ftot expre553r. audit tjpirrion on the view 8Nen bythe accofftts. Indendent Examinees Ststewrient ITr the £our5e of my exarnirwtsw. no trsatter has cet0 ten. which gives me reasop.able causeto belie¥ethaL in any merrdl rtspert the requiremwts to keep accountrng record5 In aCrdanCe with Se¢Tion 44 Ilmal of the 2tX)S Att and Re£tslation 4 trf the 2ACcoUnts RegLtlatJns. and to prepare acccurEts t•ihich accord THrth the aCting fEcord$ 2nd Comp with Re8ulatioft g of the 2CQS Accourtts Regulations not been met. or to vthith. in rny opinion. attent¥?n shoukt t In ertoenable a proper under5tan¢ing of the accounts to be reac.-.ed. Oate.. P3ge 7
NEWPORT W RMIT ANT Account for the ar to 30 November 2023. 2022 Sd)edule I Dividend Income Dividend and interest income forthe period of thi5 account 1.905.18 2.098.85 Schedule 11 Proceeds of lrniestment DisP05a15 Per Al Bell Schedule of disposals £ 24,378.77 £ 16.035.21 Schedule111 Grants to Charitable Or8anisatlons Newport on Tay Church of Scotland Maude Pilkington Trust 7C(I.00 3,000.00 700.00 3,000.00 Schedule IV Investment Management Costs Blackadders Wealth Management LLP thelr fees including vat for administration of the portfolio 924. 1,018.25 924.gj 1,018.25 Schedule V Goverr*ance Costs Blackadder5 LLP their fee for work in the trust to 30.11.2022 as assessed by Auditor ol Court Blackadders LLP interim fee for work in the tTUSt to 30.11.2023. Registers of Scotland for Deed M¢Millan Aijdit Ltd for a55es5ing Blackadders fee for the vear to 30.11.2022 her fee for examining the account5 to 3,948.CO 2,190.C¥J 1,980.OJ 20.00 156.00 78.txi 30.11.2022 300.00 642.IXI 6.404.00 2,910.00 khedule Vl Pur¢hase $t of Investments acqulred AJ Bell schedule of additions E 19,480.03 E 11,023.56 Schedule Vll Bank Deposits Inve51nent Account 1,656.31 2,881.29 1.656.31 2,881.29 Page 8