SCOTTISH CHARITY NUMBER SC004172
THE JAMES AND GRACE ANDERSON TRUST Trustee’ Report and Financial Statements
For the year ended 5 April 2025
Facts and Figures (Scotland) Ltd 13 Rutland Street Edinburgh EH1 2AE
THE JAMES AND GRACE ANDERSON TRUST Trustee’ Report and Financial Statements For the year ended 5 April 2025
CONTENTS
Report of the Trustees Independent Examiners’ Report Statement of Receipts and Payments Statement of Balances Notes to the Financial Statements
Trustees
A W Murray BSc MD FRCS (Chairman) M H Rust MA LLB R J Murray, SLA, WS E Baird BSc MD FFST RCSEd
Treasurer and Secretary
SignetCo Limited The Signet Library Parliament Square Edinburgh EH1 1RF
Independent Examiner
J P Brown FCA Facts & Figures (Scotland) Limited 13 Rutland Street Edinburgh EH1 2AE
Legal advisers
Shepherd + Wedderburn LLP 9 Haymarket Square Edinburgh EH3 8FY
Investment advisers
Rathbones George House 50 George Square Glasgow G2 1EH
Bankers
Royal Bank of Scotland plc 36 St Andrew Square Edinburgh EH2 2AD
PAGES
2 - 7 8 9 10 11 - 13
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THE JAMES AND GRACE ANDERSON TRUST Report of the Trustees
For the year ended 5 April 2025
The Trustees hereby submit their report, together with the independently examined financial statements for the year ended 5 April 2025. The report and the financial statements are prepared in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended).
STRUCTURE, GOVERNANCE & MANAGEMENT Constitution
The James and Grace Anderson Trust was established by a Trust Deed dated 20 April 1966. The management of the Trust is the responsibility of the Trustees who are appointed under the terms of the Trust Deed.
Trustees
The trustees who served during the year are as shown on the contents page. Apart from the Chairman, who is appointed by the Royal College of Surgeons, Edinburgh, new trustees are assumed by the existing trustees. The minimum number of trustees required by the Trust Deed is three. Training for new trustees will be provided in accordance with the guidelines provided by the Office of the Scottish Charity Regulator.
Organisation
The Trustees meet twice each year in spring and autumn. They consider payments of grants in accordance with the objectives of the Trust at both meetings. The Trustees approve the annual financial statements at the autumn meeting each year. There are no staff employed by the Trust. There is a Medical Committee which considers suggested research projects and advises the Trustees as to the merit of the project in relation to the objectives of the Trust. The Members of that Committee receive no remuneration for their services as trustees.
Related parties
There are no formal relationships between the Trust and other bodies.
Risk Management
The Trustees maintain a Risk Register, which is noted at each Trustee meeting and reviewed annually. The top risks for the Trust relate to the Trust’s finances and investments:
Lack of incoming resources: while this risk presents a low likelihood as income is guaranteed from the investment portfolio, the Trustees are mindful that capital is at risk when held in an investment portfolio. To mitigate this, the Trustees have arranged for the active management of the Trust’s investment portfolio by a reputable fund manager.
Loss of capital due to failure of investments: this risk presents the highest scoring impact. To adequately mitigate this, Trustees regularly engage with their fund manager to ensure that investments are safe and producing income. Quarterly performance reports are produced, and the fund managers attend trustees meeting twice a year.
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The Risk Register provides an overview of the major risks to which the Trust is exposed and is reviewed at every Trustee meeting. Trustees are satisfied that systems are in place to adequately mitigate exposure to the major risks.
Administrators
The WS Society continue to act as appointed administrators to the Trust since December 2022, fulfilling the role of Treasurer and Secretary.
OBJECTIVES AND ACTIVITIES
Objects of the Trust
The objectives of the Trust are to provide funds for the investigation and research of the causes of cerebral palsy leading to a possible cure for, or alleviation of, the condition. This was the main objective of the Trust for the year. Grants may also be made to individuals who suffer from cerebral palsy, or to groups which assist such individuals, to alleviate that condition by improving their quality of life. There have been no changes in the objectives since the last annual report.
Aims
The aim of the Trust is to provide funds in response to meritorious requests which appear to them to be fulfilling the objectives of the Trust.
Strategy
In order to achieve the aims of the Trust, entries are made in various charity directories. The Trust maintains a dedicated website and online application form since March 2023. This leads to sufficient requests for funds to enable the Trustees to use the funds available.
The website has been used to increase efficiency, accessibility, and transparency. As technology continues to evolve, the Trustees will remain committed to exploring innovative ways to improve grant-making processes and maximise the Trust’s impact.
The website also features a "Stories" section, where successful projects that have received funding from the Trust are reported. The Stories section is updated after every Trustee meeting and the articles are drafted from the reports that successful applicants are required to send to the Trust as part of the evaluation mechanisms the Trustees have put in place.
Principal activities
During the year the Trust continued to support applications from individual cerebral palsy sufferers and their carers, where it was agreed that this would improve their quality of life, and projects from research individuals and organisations aimed at reducing the occurrence of cerebral palsy or alleviating the suffering caused by that condition.
Grant making policy
Grants are awarded to those applicants where, in the opinion of the Trustees, the use to which the funds will be put meets the objectives of the Trust sufficiently closely.
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ACHIEVEMENTS AND PERFORMANCE
Review of activities
During the year the Trustees considered requests from 22 applicants and awarded grants to 14 organisations or individuals, for a grant making total of £23,000.
May 2024 (13 applications received, 8 awarded funding)
Applied: Awarded: 3 individuals 1 individual (funding declined) 10 organisations 7 organisations
Total awarded: £12,464
November 2024 (9 applications received, 6 awarded funding)
Applied: Awarded: 3 individuals 2 individuals 6 organisations 4 organisations
Total awarded: £10,536
The Trust grant eligibility criteria remain unaltered. The trust offers three forms of grants as follows:
1. Support grant for individuals/carers: these grants are aimed to support individuals diagnosed with cerebral palsy and their carers by providing funding equipment purchase, treatments, and pastoral support. Individual grants are capped at £1,500.
2. Research grant for individuals: these grants are available to individuals who are working in areas advancing (by investigation, research or otherwise) knowledge with regard to the causes of cerebral palsy and related conditions and, where possible, curing or alleviating the same. Research grants are capped at £10,000.
3. Organisation grants: these grants are aimed at formally constituted and registered charities and “not-for-profit” organisation other than statutory bodies who comply with the Trust charitable objectives, namely those of advancing by investigation, research or otherwise in any way knowledge with regard to the causes of cerebral palsy and related conditions and, if possible, curing or alleviating the same. Organisation grants are capped at £5,000.
The Trust continues to place emphasis on the need for specificity when awarding funding and the requirement that grants be awarded solely if the applicant can clearly demonstrate how the funds will benefit individuals with cerebral palsy (as opposed to other neurological conditions).
Fundraising activities
No active fundraising is carried out by the Trust. The Trust is able to accept donations and is registered for Gift Aid.
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FINANCIAL REVIEW
Financial information
The cash surplus/deficit for the year was £4,233 (2024 – surplus of £3,702) of which £8,584 (2024 - £8,665) was in the endowment fund and £(4,361) (2024 - £(4,693)) on the unrestricted general fund. The value of the Trust’s investments decreased by £80,340 over the year to £935,853. The total value of the Trust’s net assets is now £961,049 (2024 - £1,037,166) comprised of the endowment fund of £946,721 and unrestricted fund of £14,328.
Funding sources
The Trust relies solely on investment income for incoming resources. Where suitable applications are made, the whole of the incoming resources, less administrative expenses, will be expended on grants. If necessary, grants will also be made out of the balance of unrestricted funds.
Investment policy
The Trustees have wide investment powers under the Trust Deed and hold investments in accordance with the terms of the Charities and Trustees Investment (Scotland) Act 2005, as amended by the Charities (Regulation and Administration) (Scotland) Act 2023. Rathbones Investment Managers manage the portfolio on a discretionary basis. The objective is one of a balanced portfolio subject to a medium degree of risk. The manager has been asked not to invest in tobacco stocks. In consideration of the volatility of the stock market there is no target return set, but the value of the portfolio is benchmarked against the FT UK Government Securities Index, FTSE All Share Index and the FTSE 100 Share Index. Trustees meet with the managers biannually to review performance and investment policy.
The Trustees have discussed the state of the Trust investments and resolved to consider a new tendering of the portfolio management services in 2025.
Reserves policy
On a year-to-year basis, grants are awarded according to income available. Revenue surpluses brought forward from previous years are available if there is a shortfall. Endowment funds are not normally used for revenue purposes although there is no restriction to prevent such use.
The Trustees consider that the current level of Unrestricted Funds is satisfactory and would seek to increase the level of Endowment Funds by using a sound investment policy.
Plans for future periods – general grant making
It is the intention of the Trustees to continue to use their available income and reserves to fund good research projects wherever possible, albeit the Trust has not received a significant number of research projects applications during the financial year. To achieve this, it was resolved to draft an advertising list of relevant researchers and issue targeted marketing emails together with marketing materials (flyer) to them with the view to increasing the number of research grant applications received.
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Grants will continue to be provided to individuals suffering from cerebral palsy or organisations providing facilities for sufferers wherever the Trustees consider that the circumstances are such that a grant is within the terms of the Trust Deed.
Overall, the Trust continues to welcome applications for all three grant categories (i.e., individuals/carers; research; organisations).
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THE JAMES AND GRACE ANDERSON TRUST
Report of the Trustees (Continued) For the year ended 5 April 2025
Examination
The level of income of the Trust and the amount of its assets is such that an examination by an independent examiner is required rather than an audit. The Trustees have invited the accountancy firm Facts and Figures to conduct the independent examination for the year ended 5 April 2025.
On behalf of the Trustees
Richard J Murray, SLA Trustee November 2025
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE JAMES AND GRACE ANDERSON TRUST (SC004172)
I report on the financial statements of The James and Grace Anderson Trust for the year ended 5 April 2025 which are set out on pages 5 to 9.
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, I do not accept or assume responsibility to anyone other than the Charity and the trustees, as a body, for my work or for this report.
Respective responsibilities of trustees and independent 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 (the 2005 Act) and the Charities Accounts (Scotland) Regulations 2006(as amended) (the 2006 Regulations). The charity trustees consider that the audit requirement of Regulation 10(1)(d) of the 2006 Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1)(c) of the 2005 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 Regulations. 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 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, I 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 comply with Regulation 9 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.
J P Brown FCA Facts & Figures (Scotland) Limited 13 Rutland Street Edinburgh EH1 2AE
Date: 05/01/2026
Page | 8
THE JAMES AND GRACE ANDERSON TRUST Statement of Receipts and Payments For the year ended 5 April 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | |
| fund | fund | funds | funds | |
| £ | £ | £ | £ | |
| RECEIPTS | ||||
| Investment income | 25,515 | - | 25,515 | 28,069 |
| Other incoming resources | 132 | - | 132 | 50 |
| 25,647 | - | 25,647 | 28,120 | |
| RECEIPTS FROM ASSET & INVESTMENT SALES | ||||
| Proceeds from sale of investments | - | 325,807 | 325,807 | 173,525 |
| - | 325,807 | 325,807 | 173,525 | |
| TOTAL RECEIPTS | 25,647 | 325,807 | 351,454 | 201,645 |
| PAYMENTS | ||||
| Costs of generating funds | ||||
| Investment management costs | - | 7,406 | 7,406 | 7,097 |
| Charitable activities | ||||
| Grants and Donations (Note 3) | 23,000 | - | 23,000 | 24,000 |
| Governance costs | ||||
| Trust administration | 6,788 | - | 6,788 | 7,398 |
| Independent examination | - | - | - | 1,440 |
| Website costs | 220 | - | 220 | 245 |
| 30,008 | 7,406 | 37,414 | 40,180 | |
| PAYMENTS RELATING TO ASSET AND INVESTMENT MOVEMENTS | ||||
| Purchase of investments | - | 309,817 | 309,817 | 157,763 |
| - | 309,817 | 309,817 | 157,763 | |
| TOTAL PAYMENTS | 30,008 | 317,223 | 347,231 | 197,943 |
| NET RECEIPTS / PAYMENTS | (4,361) | 8,584 | 4,223 | 3,702 |
| TRANSFERS TO / (FROM) FUNDS | - | - | - | - |
| SURPLUS / DEFICIT FOR YEAR | (4,361) | 8,584 | 4,233 | 3,702 |
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THE JAMES AND GRACE ANDERSON TRUST Statement of Balances As at 5 April 2025
| FUNDS RECONCILIATION Bank & Cash Balances - At 6 April 2023 Surplus/(Deficit) for Year Transfer between funds Bank & Cash Balances - 5 April 2024 (Note 4) FIXED ASSET INVESTMENTS(Note 5) TOTAL FUNDS |
2025 2024 Unrestricted fund Endowment fund Total funds Total funds £ £ £ £ 8,689 12,284 20,973 17,271 (4,361) 8,584 4,223 3,702 10,000 (10,000) - - |
|---|---|
| 14,328 10,868 25,196 20,973 - 935,853 935,853 1,016,193 |
|
| 14,328 946,721 961,049 1,037,166 |
The financial statements were approved by the Board of Trustees on 05/01/2026 and were signed on its behalf by:
............................................. Trustee
Page | 10
THE JAMES AND GRACE ANDERSON TRUST Notes forming part of the Financial Statements For the year ended 5 April 2025
1. Accounting policies
Basis of Accounting
The financial statements have been prepared on a receipts and payments basis and are in accordance with Charities & Trustee Investment (Scotland) Act 2005 and The Charities Accounts (Scotland) Regulations 2006 (as amended).
Investments and Income therefrom
Investments have been included in the statement of balances at market value. Investment income is included when it is received.
Grants
Grants are shown as charitable expenditure in the year in which they are paid with any sums not expended in the year shown as liabilities.
VAT
The Trust is not registered for VAT and accordingly expenditure includes VAT where appropriate.
Allocation of expenditure
Wherever possible, expenditure is attributed directly to the category to which it relates. Where this is not possible, expenditure is allocated on the basis of the time spent on each activity.
Going concern
The financial statements have been prepared on a going concern basis. The Trustees have assessed the Trust’s ability to continue as a going concern and have reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing these financial statements.
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THE JAMES AND GRACE ANDERSON TRUST Notes forming part of the Financial Statements (Continued) For the year ended 5 April 2025
2. Grants paid out in accordance with the purposes of the trust
| Action Cerebral Palsy Action Medical Research Alexander Snopkiewicz Beverley King Caudwell Children Cerebral Palsy Cymru Cerebral Palsy Mid Staffordshire Cerebral Palsy Plus Children Today Chris Paxton Corstorphine AAC Courtney Holland Dame Vera Lynn Children’s Charity Disability Africa Ella Williams Emma Robinson Heel and Toe Children International Cerebral Palsy Society Isla Roberts Kai Lochrie Medical Engineering Resource Unit (MERU) Megan Baker House Multi Agency International Training & Support NICE Step n Skip Steps Conductive Education Centre Stick N Step The Movement Centre The Rainbow Centre for Conductive Education UP - The Cerebral Palsy Movement Whizz Kidz |
2025 2024 £ £ - 750 - 3,000 - 500 - 1,500 824 750 2,500 - - 500 1,500 500 - 1,500 - 1,000 3,085 - - 170 3,500 - - 1,000 - 500 440 1500 - 1,500 2,000 2,000 - 500 250 - 4,000 - - 750 - 1,000 - 750 - 750 - 750 1,346 - 1,555 - 1,000 - 1,000 1,000 - 1,830 |
|---|---|
| 23,000 24,000 |
3. Related party transactions
No remuneration was paid to the Trustees or to any connected persons during the year.
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THE JAMES AND GRACE ANDERSON TRUST Notes forming part of the Financial Statements (Continued) For the year ended 5 April 2025
4. Bank and cash balances
| Rathbones Investment Management - Income Account - Capital Account WS Society - Client Account |
Unrestricted fund Endowment fund 2025 2024 £ £ £ £ 4,508 - 4,508 4,923 - 10,867 10,867 12,284 9,821 - 9,821 3,766 |
|---|---|
| 14,328 10,867 25,196 20,973 |
5. Fixed asset investments
| MARKET VALUE At 6 April 2024 Additions Disposals Revaluations At 5 April 2025 COST At 5 April 2024 Additions Disposals Revaluations At 5 April 2025 |
Listed Investments £ 1,016,193 309,817 (325,807) (64,350) |
|---|---|
| 935,853 | |
| 818,615 309,817 (126,823) - |
|
| 1,001,609 |
5. Commitments and contingent liabilities
There are no commitments or contingent liabilities not already shown in the statement of balances.
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