THE FRASER MEMORIAL TRUST
ACCOUNTS
FOR THE YEAR TO 5 APRIL 2025 SCOTTISH CHARITY NUMBER: SC004363
Armstrong Watson 89 Seaward Street Glasgow G41 1HJ
THE FRASER MEMORIAL TRUST
Contents Trust Information 1 Trustees’ Annual Report 2 Receipts and Payments Account 3 Statement of Balances 4 Notes 5-6 Independent Examiner’s Report 7
2
THE FRASER MEMORIAL TRUST
TRUST INFORMATION
Scottish Charity Number:
Bankers:
Solicitors:
Independent Examiner:
$C004363
Royal Bank of Scotland 10 Gordon Street Glasgow G2 3PL
Turcan Connell 180 St Vincent Street Glasgow G2 5SG
Po Armstrong Watson 89 Seaward Street Glasgow G41 1HJ
----- Start of picture text -----
l
----- End of picture text -----
THE FRASER MEMORIAL TRUST
Trustees’ Annual Report
For the year to 5 April 2025
Structure, Governance and Management
The Trust is incorporated under the rules incorporated in the Trust Deed dated 7" February 1985, The Trustees changed the name of the trust from The John & Margaret Fraser Memorial Trust to the Fraser Memorial Trust during the year ended 5 April 2012.
Under the terms of the Trust Deed, the existing Trustees have the power to appoint new and additional Trustees.
The Trustees have assessed the risks to which the charity is exposed, in particular those related to the financial and investment operation of the Trust, and are satisfied that systems are in place to minimise exposure to these risks.
Objectives, Activities and Achievements
Our purpose, as recorded in the trust deed, is to support any charitable, cultural, educational, religious or welfare organisation or organisations for the relief of poverty which have their domicile or carry on their work in Scotland or elsewhere, or more generally for the relief of poverty in Scotland or elsewhere.
In the year under review the Trust had total receipts of £22,189 (2024: £21,964) and made donations to 6 recipients totalling £21,800 (2024: 6 recipients totalling £17,300). Details of the donations are shown in the Notes to the accounts.
Financial Review, Investment Policy and Reserves
The reserves mainly consist of the investments originally settled. These investments are essential to produce the income for distribution.
----- Start of picture text -----
lrustee P ,
iT ‘ ~ “
Date L| LOLs
----- End of picture text -----
9%
THE FRASER MEMORIAL TRUST
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2025
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Note|2025|2024|
|RECEIPTS|£|£|
|Dividend|Income|2|21,813|21,595|
|Fixed|interest|327|367|
|Bank|interest|49|2|
|22,189|21,964|
|Proceeds|of sale|of shares|37,859|28,271|
|TOTAL RECEIPTS|60,048|50,235|
|PAYMENTS|
|Charitable|Donations|3|21,800|17,300|
|Cost|of shares|purchased|40,365|15,301|
|Investment|management|costs|3,136|3,059|
|Governance|Costs:|
|Preparation|of accounts|897|460|
|Independent|Examiner's|Fee|TAT|308|
|TOTAL PAYMENTS|66,944|__|36,428|
|SURPLUS/(DEFICIT) FOR THE YEAR|(6,896)|13,807|
----- End of picture text -----
All funds are unrestricted.
3
THE FRASER MEMORIAL TRUST
STATEMENT OF BALANCES
AS AT 5 APRIL 2025
| AS AT 5 APRIL 2025 | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| x | z | |||
| Cash and Bank Balances | ||||
| Cash and Bank Balances at6 April 2024 | 57,337 | 43,531 | ||
| (Deficit)/Surplus for the year | (6,896) | 13,807 | ||
| Cash and Bank Balances at 5 April 2025 | __ | 50,4410 | 57,337 | |
| Investments held at 5 April 2025 | Market Value | Cost | ||
| £ | £ | |||
| 100 | Avbott Laboratories NPV Common Stock | 9.617 | 9.037 | |
| 50 | Alphabet Inc Common Stock | 5.626 | 7,379 | |
| 840 | AstraZeneca PLC Ordinary Shares | 90.787 | - | |
| 17,000 | Barclays PLC Ordinary Shares | 42.509 | - | |
| 1.250 | Blackrock Smlr Cos Trust Ordinary Shares | 14.375 | 22,545 | |
| 18,500 | BP PLC Ordinary Shares | 68.580 | : | |
| 3.250 | British American Tobacco Company PLC Ordinary Shares | 100.783 | - | |
| 30 | CME Group Inc Common Stock | 9.833 | 8.531 | |
| 9.000 | Digital 9 Infrastructure NPV Ordinary Shares | 810 | 10.408 | |
| 325 | Experian Pic Ordinary Shares | 10,350 | 9.625 | |
| 125. | Findlay Park Funds ICAV | 20,396 | 23,024 | |
| 9.000 | Gore Street Energy Storage PLC Ordinary Shares | 4,298 | 10.709 | |
| 10,028 | Liontrust Investment Funds | 9,821 | 9,961 | |
| 32.500 | [.loyds Banking Group Ordinary Shares | BL23 | 15,569 | |
| 13 | LVMH Moet Elennessy SA Shares | 6,751 | 8.670 | |
| 40 | Microsoft Copr Common Stock | 11,124 | 9,592 | |
| 7.5300 | Murray International Trust Ordinary Shares | 18.488 | 19,684 | |
| 300 | Reckitt Benckiser Group Ordinary Shares | 15,246 | 16,858 | |
| 430 | Relx Ple Ordinary Shares | 17.172 | 9.685 | |
| 20) | S&P Global Inc Common Stock | 6.9/9 | 6/50 | |
| $5. | Siemens AG NPV Shares (red) | 13.185 | 9.865 | |
| 20) | Thermo Fisher Scientific Inc Common Stock | 6,769 | 9.085 | |
| 30) | Visa Ine Common Steck | __ | 12.100 | — 8.806_ |
| 516,924 | 223.821 |
All tunds are wvyestricted
Signed tor and on behalf ofthe frustees and with cher authorisation i717 OCwncy 25 rat
THE FRASER MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR TO 5 APRIL 2025
----- Start of picture text -----
1. Accounting policies
----- End of picture text -----
a) Basis of preparation
The Accounts have been prepared on the “receipts and payments” basis and comply with the requirements of the Charities Accounts (Scotland) Regulations 2006. b) Investments
| b) Investments |
b) Investments |
||||
|---|---|---|---|---|---|
Investments are stated at market value. |
|||||
| c) Income and Expenditure |
|||||
| Gifts of investments and cash made to the Trust are accounted | for when received. | Investment | |||
income is accounted forwhen received, as is bank interest. |
|||||
| Donations and otherexpenditure areaccounted forwhen paid. | |||||
| d) Taxation |
|||||
The Trust is recognised by |
H M Revenue& Customs as acharity forthe purposes ofthe |
the Income | |||
| and Corporation Taxes Act 1988 and | is entitled under Section 13 (2) of the Charities and | ||||
Trustees Investment (Scotland) Act2005 to describe itselfas a Scottish Charity. |
|||||
| 2. | Dividend Income | ||||
| 2025 | 2024 | ||||
| £ | = | ||||
| Abbott Laboratories | 149 | 140 | |||
| Abrdn PLC | 754 | 754 | |||
| Alphabet Inc | 7 | - | |||
| AstraZeneca PLC | 2,063 | 2.278 | |||
| Barclays PLC | 1,722 | 2,301 | |||
| BAT Industries PLC | 7,654 | 7,504 | |||
| Blackrock Smaller Companies Trust | 531 | 506 | |||
| BP PLC | 4,478 | 4,494 | |||
| CMEGroup Inc | 355 | - | |||
| Digital 9 Infrastructure PLC | - | 135 | |||
| Experian PLC | 155 | 142 | |||
| Gore StreetEnergy Storage PLC | 168 | 308 | |||
| Liontrust Investments PLC | 473 | - | |||
| Lloyds BankingGroup PLC | 943 | 819 | |||
| LVMH MoetHennessy SA | 123 | 122 | |||
| Microsoft Corporation | 83 | 77 | |||
| Murray International Trust PLC | 885 | 840 | |||
| Reckitt Benckiser Group PLC | 589 | 561 | |||
| Relx PLC | 270 | 251 | |||
| S&P Global Inc | 48 | - | |||
| SiemensAG | 268 | 249 | |||
| Thermo Fisher Scientific Inc | 21 | 19 | |||
| Visa Inc | __73 | ___65 | |||
| 21,813 | 21,595 | ||||
| 5 |
| |
|
1 | |
|
|
THE FRASER MEMORIAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR TO5 APRIL 2025
| Be | CharitableDonations | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Alloway Parish Church | 1,500 | 2,000 | |
| Small Steps | 1,000 | - | |
| Pancreatic Cancer | 10,000 | - | |
| MacMillan Cancer Support | - | 6,000 | |
| Canine Partners | 5,000 | - | |
| MHF | 1,000 | 1,000 | |
| The Outward Bound Trust StrathcarronHouse |
3,300 - |
3,300 5.000 |
|
| 21,800 | 17,300 |
4, Trustee Remuneration, Expenses and Transactions No remuneration was paid to any charity Trustee or person connected to a Trustee. No expenses were paid to any charity Trustee. There were no transactions with the Trustees or persons connected with the Trustees. 5: Cash and Bank Balances
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
RoyalBankofScotland—a/cno. 15450773 Rathbones—capital a/c |
41,705 6,616 |
41.685 12,969 |
Rathbones— income a/c |
2.120 | 2.683 |
| 50,441. | 43.531. |
6
THE FRASER MEMORIAL TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE FRASER MEMORIAL TRUST
| report on the accounts of the charity for the year ended 5 April 2025, which are set out on pages 3 to 6.
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. The charity trustees consider that the audit requirement of Regulation 10(1) (d) 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 Independent Examiner’s Statement
My examination is 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 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 the course of my examination, no matter has come to my attention:
-
Ls which gives me reasonable cause to believe that in any material respect the requirements:
-
e to keep accounting records in accordance with Scction 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
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached,
----- Start of picture text -----
Date
----- End of picture text -----
Armstrong Watson 89 Seaward Street Glasgow G41 1HJ