**REGISTERED CHARITY NUMBER: SC004071** ## **Report of the Trustees and** **Financial Statements for the Year Ended 5 April 2025** ## **for** **Scott Thomson Charitable Trust** Brett Nicholls Associates Herbert House 24 Herbert Street Glasgow G20 6NB **Scott Thomson Charitable Trust** ## **Contents of the Financial Statements for the Year Ended 5 April 2025** ||**Page**| |---|---| |**Reference and Administrative Details**|1| |**Report of the Trustees**|2| |**Independent Examiner's Report**|3| |**Statement of Financial Activities**|4| |**Balance Sheet**|5| |**Notes to the Financial Statements**|6 to 12| **Scott Thomson Charitable Trust** **Reference and Administrative Details for the Year Ended 5 April 2025** ## **TRUSTEES** **PRINCIPAL ADDRESS** 0/1 68 Lauderdale Gardens Glasgow G12 9QW **REGISTERED CHARITY NUMBER** SC004071 **INDEPENDENT EXAMINER** Brett Nicholls Associates Herbert House 24 Herbert Street Glasgow G20 6NB **BANKERS** Bank of Scotland The Mound EH1 1YZ Page 1 Scott Thomson Charitable Trust ## Report of the Trustees for the Year Ended 5 April 2025 The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019). ## OBJECTIVES AND ACTIVITIES ## Objectives and aims The Trust was established to complete the following objectives: - The relief of poverty - The advancement of education - The advancement of the Christian religion - Any other charitable purposes as the Trustees in their uncontrolled discretion shall from time to time think fit. Income consists entirely of personal giving and there is no fundraising of any sort. ## ACHIEVEMENT AND PERFORMANCE ## Charitable activities The Trustees are pleased to record that income for the year amounted to £71,707 (2024: £69,293) and that donations amounting to £76,800 (2024: £75,100) have been paid to individuals and Christian organisations. ## FINANCIAL REVIEW ## Financial position The trust incurred a net reduction in funds of £17,201 for the year ended 5 April 2025 (2024: Surplus of £3,953). The reduction in funds is partly due to the effect of revaluation of investments by £-7,825. On 5 April 2025, total reserves stood at £633,517 (2024: £650,718) with £142,973 of these being unrestricted (2024: £141,839) and £490,544 being the Endowment Fund (2024: £508,879). ## Reserves policy The Trustees are satisfied with the level of reserves held, particularly taking into account the need to ensure sufficient funds are available to allow flexibility in responding to needs. ## STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## Recruitment and appointment of new trustees New Trustees are appointed as and when required by the Trust's needs. Appointment is through a process of strict criteria that has been agreed upon by the current Trustees. No set time limit is agreed for Trustees though the Trustees review their involvement annually. ## Organisational structure The Scott Thomson Charitable Trust ("the charity") is a Scottish charitable trust set up by Robert Scott Thomson, then of 36 Norwood Drive, Whitecraigs, Glasgow on 31 March 1965. The Trust is a recognised Scottish Charity (No. SC0040771). ## Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Approved by order of the board oftrusteeson.... 29/10/2025 ... and signed on its behalf by: Page 2 Independent Examiner's Report to the Trustees of Scott Thomson Charitable Trust | report on the accounts for the year ended 5 April 2025 set out on pages four to twelve. ## Respective responsibilities of 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 the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. ## Basis of the independent examiner's report My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 you as 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 connection with 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 accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Fellow of the Association of Chartered Certified Accountants Brett Nicholls Associates Herbert House 24 Herbert Street Glasgow G20 6NB ## 29/10/2025 DateseS Page 3 ## **Scott Thomson Charitable Trust** ## **Statement of Financial Activities for the Year Ended 5 April 2025** |**INCOME AND ENDOWMENTS FROM**
**Notes**
**Unrestricted**
**fund**
**£**
**Endowment**
**fund**
**£**
Donations and legacies
3
50,000
-
Investment income
4
6,870
14,837
**Total**
56,870
14,837
**EXPENDITURE ON**
Raising funds
5
-
2,771
**Charitable activities**
Charitable Activities
6
54,312
24,000
**Total**
54,312
26,771
Net gains/(losses) on investments
(1,424)
(6,401)
**NET INCOME/(EXPENDITURE)**
1,134
(18,335)
**RECONCILIATION OF FUNDS**
Total funds brought forward
141,839
508,879
**TOTAL FUNDS CARRIED FORWARD**
142,973
490,544|**2025**
**Total**
**funds**
**£**
50,000
21,707
71,707
2,771
78,312
81,083
(7,825)
(17,201)
650,718
633,517|**2024**
**Total**
**funds**
**£**
48,826
20,467
69,293
2,554
76,522
79,076
13,736
3,953| |---|---|---| |||646,765
650,718| ## **CONTINUING OPERATIONS** This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities in both years. Comparative figures for the previous year by fund type are shown in Note 10. The notes on pages 6-12 form part of these financial statements Page 4 Scott Thomson Charitable Trust ## Balance Sheet 5 April 2025 |||2025|2024| |---|---|---|---| ||Notes|£|£| |FIXED ASSETS|||| |Investments|11|586,696|598,365| |CURRENTASSETS|||| |Debtors|12|213|-| |Cash atbank||49,398|53,703| |||49,611|53,703| |CREDITORS|||| |Amountsfallingduewithinoneyear|13|(2,790)|(1,350)| |NET CURRENTASSETS||46,821|52,353| |TOTALASSETS LESS CURRENT LIABILITIES||633,517|650,718| |NETASSETS||633,517|650,718| |FUNDS|15||| |Unrestricted funds:|||| |General fund||142,973|141,839| |Endowmentfunds||490,544|508,879| |TOTALFUNDS||633,517|650,718| 29/10/2025 The financial statements were approved by the Board of Trustees and authorised for issue On ........seseieeeneeae... and were signed on its behalf by: The notes on pages 6-12 form part of these financial statements Page 5 **Scott Thomson Charitable Trust** **Notes to the Financial Statements for the Year Ended 5 April 2025** ## **1. GENERAL INFORMATION** Scott Thomson Charitable Trust ("the charity") is a Scottish charitable trust and is governed by a deed of trust dated 10 July 1966. It was registered as a charity in Scotland (registered number SC004071) on 10 July 1966. It's registered address is 0/1 68 Lauderdale Gardens, Glasgow, G12 9QW. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention. The financial statements are prepared on an accruals basis, and on a going concern basis, in accordance with: - the Charities and Trustee Investment (Scotland) Act 2005; - Regulation 8 (Statement of account - Fully accrued accounts) of The Charities Accounts (Scotland) Regulations 2006; - the Financial Reporting Standard applicable in the UK and Republic of Ireland, published in March 2018 ("FRS 102"), to the extent that it applies to small entities and public benefit entities; - '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, published in October 2019 (FRS102)' ("the Charities SORP"); - UK Generally Accepted Accounting Practice; and - the historical cost convention. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value, unless otherwise stated in the relevant accounting policy. The financial statements are presented in UK sterling, which is the charity's functional currency, and rounded to the nearest pound. There have been no changes to the basis of preparation this financial year or to the previous financial year's financial statements. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Page 6 continued... **Scott Thomson Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** ## **2. ACCOUNTING POLICIES - continued** ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** Scott Thomson Charitable Trust is a charity within the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied for charitable purposes only. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Fixed asset investments** Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the closing quoted market value. The Statement of Financial Activities includes net gains and losses arising on revaluation and disposals throughout the year. ## **Realised gains and losses** All 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 gains and losses are combined in the Statement of Financial Activities. ## **Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **3. DONATIONS AND LEGACIES** ## **4.** |Donations
**INVESTMENT INCOME**
Dividends
Interest Received|**2025**
**£**
50,000
**2025**
**£**
18,657
3,050
21,707|**2024**
**£**
48,826| |---|---|---| |||**2024**
**£**
19,941
526| |||20,467| Page 7 continued... **Scott Thomson Charitable Trust** **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** ## **5. RAISING FUNDS** ## **Investment management costs** |**2025**
Portfolio management
**£**
2,771
**6.**
**CHARITABLE ACTIVITIES COSTS**
**Direct**
**Support**
**Costs (see**
**note 7)**
**costs (see**
**note 8)**
Charitable Activities
**£**
76,800
**£**
1,512
**7.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
**2025**
**£**
Donations
76,800
**8.**
**SUPPORT COSTS**
Other fees
**2025**
**£**
72
Independent examination
1,440
1,512|**2024**
**£**
2,554
**Totals**
**£**
78,312|**2024**
**£**
2,554
**Totals**
**£**
78,312| |---|---|---| ||
**2024**
**£**
75,100|| ||
**2024**
**£**
72
1,350
1,422|| |||
1,422| ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024. Page 8 continued... **Scott Thomson Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** |**10.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||||| |---|---|---|---|---|---|---| |||**Unrestricted**||**Endowment**||**Total**| |||**fund**||**fund**||**funds**| |||**£**||**£**||**£**| ||**INCOME AND ENDOWMENTS FROM**|||||| ||Donations and legacies|48,826|||-|48,826| ||Investment income|6,536||13,931||20,467| ||**Total**|55,362||13,931||69,293| ||**EXPENDITURE ON**|||||| ||Raising funds||-|2,554||2,554| ||**Charitable activities**|||||| ||Charitable Activities|68,762||7,760||76,522| ||**Total**|68,762||10,314||79,076| ||Net gains/(losses) on investments|(2,239)||15,975||13,736| ||**NET INCOME/(EXPENDITURE)**|(15,639)||19,592||3,953| ||**RECONCILIATION OF FUNDS**|||||| ||Total funds brought forward|157,478||489,287||646,765| ||**TOTAL FUNDS CARRIED FORWARD**|141,839||508,879||650,718| |**11.**|**FIXED ASSET INVESTMENTS**|||||| |||||||**Listed**| |||||||**investments**| |||||||**£**| ||**MARKET VALUE**|||||| ||At 6 April 2024|||||598,365| ||Additions|||||58,785| ||Disposals|||||(62,629)| ||Revaluations|||||(7,825)| ||At 5 April 2025|||||586,696| ||**NET BOOK VALUE**|||||| ||At 5 April 2025|||||586,696| ||At 5 April 2024|||||598,365| ||There were no investment assets outside the UK.|||||| ||Cost or valuation at 5 April 2025 is represented by:|||||| |||||||**Listed**| |||||||**investments**| |||||||**£**| ||Valuation in 2025|||||586,696| |||Page 9||||continued...| **Scott Thomson Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** |**Notes to the Financial Statements - continued**
**for the Year Ended 5 April 2025**||| |---|---|---| |**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accrued Income
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accrued expenses
**14.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Unrestricted**
**Endowment**
**fund**
**fund**
**£**
**£**
Investments
109,095
477,601
Current assets
36,668
12,943
Current liabilities
(2,790)
-
142,973
490,544
**Comparatives for analysis of net assets between funds**
**Unrestricted**
**Endowment**
**funds**
**funds**
**£**
**£**
Fixed Assets
110,519
487,846
Current assets
32,670
21,033
Current liabilities
(1,350)
-
141,839
508,879
**15.**
**MOVEMENT IN FUNDS**

**At 6/4/24**
**£**
**Unrestricted funds**
General fund
141,839
**Endowment funds**
Hilary Thomson Endowment Fund
508,879
**TOTAL FUNDS**
650,718|**2025**
**£**
213
**2025**
**£**
2,790
**2025**
**Total**
**funds**
**£**
586,696
49,611
(2,790)
633,517
**2024**
**Total**
**funds**
**£**
598,365
53,703
(1,350)
650,718
**Net**
**movement**
**in funds**
**£**
1,134
(18,335)
(17,201)|**2024**
**£**
-
**2024**
**£**
1,350
**2024**
**Total**
**funds**
**£**
598,365
53,703
(1,350)
650,718
**2023**
**Total**
**funds**
**£**
579,181
68,844
(1,260)
646,765| |||**At**
**5/4/25**
**£**
142,973
490,544
633,517| Page 10 continued... **Scott Thomson Charitable Trust** **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** ## **15. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||**Incoming**|
**Resources**|**Gains and**|**Movement**| |---|---|---|---|---| ||**resources**|
**expended**|**losses**|**in funds**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund|56,870|(54,312)|(1,424)|1,134| |**Endowment funds**||||| |Hilary Thomson Endowment Fund|14,837|(26,771)|(6,401)|(18,335)| |**TOTAL FUNDS**|71,707|(81,083)|(7,825)|(17,201)| |**Comparatives for movement in funds**||||| ||||**Net**|| ||||**movement**|**At**| |||**At 6/4/23**|**in funds**|**5/4/24**| |||**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund||157,478|(15,639)|141,839| |**Endowment funds**||||| |Hilary Thomson Endowment Fund||489,287|19,592|508,879| |**TOTAL FUNDS**||646,765|3,953|650,718| |Comparative net movement in funds, included in the above are as||follows:||| ||**Incoming**|
**Resources**|**Gains and**|**Movement**| ||**resources**|
**expended**|**losses**|**in funds**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General fund|55,362|(68,762)|(2,239)|(15,639)| |**Endowment funds**||||| |Hilary Thomson Endowment Fund|13,931|(10,314)|15,975|19,592| |**TOTAL FUNDS**|69,293|(79,076)|13,736|3,953| Page 11 continued... **Scott Thomson Charitable Trust** ## **Notes to the Financial Statements - continued for the Year Ended 5 April 2025** ## **16. RELATED PARTY DISCLOSURES** One trustee, , made a donation of £50,000 during the year ended 5 April 2025 (2024: £48,826). There were no other related party transactions for the year ended 5 April 2025 nor for the year ended 5 April 2024. Page 12