SCOTTISH CHARITY NUMBER SC004507
THE MORTON CHARITABLE TRUST (DUNDEE)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2025
THE MORTON CHARITABLE TRUST (DUNDEE)
INDEX TO THE FINANCIAL STATEMENTS
PAGE
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1 Trustees’ Report
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2 Statement of Trustees’ Responsibilities 3 Independent Examiner’s Report
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4 Statement of Financial Activities
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5 Balance Sheet
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6 – 7 Notes
THE MORTON CHARITABLE TRUST (DUNDEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
The trustees have pleasure in presenting their report and the financial statements of the trust for the year ended 5[th] April 2025.
Charity Name
The Morton Charitable Trust (Dundee)
Scottish Charity Number
SC004507
Contact address
The Trust Secretary, 23 Ogilvie Court, Broughty Ferry, Dundee, DD5 1LR
Current Trustees
Mrs Susan W Simpson Mrs Rosemary J Thornton
Structure, governance and management
Constitution
The Trust is a charitable unincorporated Trust and the purposes and administration arrangements are set out in the Deed of Trust.
Appointment of Trustees
All the trustees are appointed or reappointed by the members at our annual general meeting.
Objectives and activities
Charitable purposes
Our purposes, as recorded in the Trust Deed, are to use Trust funds for the benefit of Charitable Institutions selected by the Trustees.
Activities and Performance
In the year, we continued to make donations to various charities. In the year, we made donations of £2,000.
Trustees remuneration
The trustees did not receive any remuneration or expenses during the year.
Reserves
During the year the Trust had net incoming resources of £24,360. Combined with a decrease in the market value of Investments of £14,346, the Trust held unrestricted funds of £1,282,202 at the year end.
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THE MORTON CHARITABLE TRUST (DUNDEE)
YEAR ENDED 5 APRIL 2025
TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the annual report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Morton Charitable Trust will continue its activities.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of The Morton Charitable Trust and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the charity’s trust deed. They are also responsible for safeguarding the assets of The Morton Charitable Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and Signed on their behalf.
Mrs Susan W Simpson, 30 April 2026.
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE MORTON CHARITABLE TRUST (DUNDEE)
YEAR ENDED 5 APRIL 2025
I report on the accounts of the charity for the year ended 5 April 2025 which are set out on pages 4 and 5.
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 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 Trustees, as a body, for my work or for this report.
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 trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulation 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 2006 Accounts 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 financial statements.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44 (1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
AW Walker CA Walker Dunnett & Co Chartered Accountants
30 April 2026
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THE MORTON CHARITABLE TRUST (DUNDEE) STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2025
| Note Incoming Resources from generated funds Investment income Other incoming resources Total incoming resources Resources Expended Cost of generating funds: Charitable activities Governance costs Total resources expended Net Incoming/(Outgoing) Resources before other recognised gains and losses Other Recognised gains and losses Gains/(Losses) on Investments Realised Unrealised Net movement in funds Funds brought forward at 6 April 2024 Funds at 5 April 2025 |
2025 Total £ 33,611 33,611 2,000 7,251 9,251 24,360 14,858 - (29,204) 10,014 1,272,188 1,282,202 |
2024 Total £ 33,084 633 |
|---|---|---|
| 33,717 | ||
| 47,500 6,332 |
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| 53,832 | ||
| (20,115) 15,270 - 109,107 |
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| 104,262 1,167,926 |
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| 1,272,188 |
The Financial Statements were approved by the Trustees on 30 April 2026.
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THE MORTON CHARITABLE TRUST (DUNDEE) BALANCE SHEET AS AT 5 APRIL 2025
| Note FIXED ASSETS INVESTMENTS Listed investments at market value 10 CURRENT ASSETS Debtors Cash at Bank Total Current Assets LIABILITIES Creditors: amounts falling due within one year Net Current Assets NET ASSETS Representing: GENERAL FUND 11 |
2025 £ 1,214,494 - 70,156 70,156 2,448 67,708 1,282,202 1,282,202 |
2024 £ 1,225,469 |
|---|---|---|
| - 47,913 |
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| 47,913 1,194 |
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| 46,719 | ||
| 1,272,188 | ||
| 1,272,188 |
Mrs Susan W Simpson, Trustee
The Financial Statements were approved by the Trustees on 30 April 2026
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THE MORTON CHARITABLE TRUST (DUNDEE) NOTES TO THE FINANCIAL9STATEMENTS YEAR ENDED 5 APRIL 2025
1. Basis of Accounting
The financial statements are prepared under the historical cost convention as modified by the revaluation of investments and include the results of the Trust’s operations as indicated in the Trustees’ report, all of which are continuing.
The financial statements have been prepared in accordance with applicable accounting standards and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued during October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The Trust constitutes a public benefit entity as defined by FRS102.
The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.
The accounts are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
2. Major Funds
The charity has only one general, unrestricted fund.
3. Incoming resources
The income as shown in the Statement of Financial Activities represents investment income and bank interest receivable, all of which are included in the financial statements when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
4. Material Commitments
There were no material commitments at 5 April 2025.
5. Guarantees and Contingent Liabilities
There are no guarantees or contingent liabilities.
6. Secured Loans
No security has been given over any asset.
7. Remuneration of Trustees
No Trustees received any remuneration or expenses in either of the two years ended 5 April 2025.
8. Investments
Investment income is credited through the Statement of Financial Activities when receivable. Realised gains on Investments are credited through the Statement of Financial Activities when realised, based on the carrying value of the investment. Investments are included in the Balance Sheet at fair value.
9. Cash Flow Statement
The Trust is entitled to the exemptions available for small charities and is not therefore required to prepare a cash flow statement.
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THE MORTON CHARITABLE TRUST (DUNDEE) NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 5 APRIL 2025
10. Fixed assets investments
| Quoted Investments Fair value at 6 April 2024 Additions Disposals Net (losses)/gains Fair value at 5 April 2025 Historical cost at 5 April 2025 |
2025 £ 1,225,469 44,299 (40,928) (14,346) 1,214,494 1,071,808 |
2024 £ 1,114,000 148,000 (160,919) 124,378 |
|---|---|---|
| 1,225,469 | ||
| 1,053,617 |
The Trustees consider individual investment holdings in excess of 5% of the portfolio to be material.
Material interest by value
| HSBC Investment Funds (UK) European Index Legal & General UT Global 100 Index TST I DIS Vanguard Investment Series Emerging Vanguard Investments UK Ltd FTSE Dev World Vanguard Investments UK Ltd FTSE UK Liontrust Income Bond Marlborough Global Bond unds At 6 April 2024 Surplus for the year Unrealised profit/(loss) Net realised profit on disposal At 5 April 2025 |
Market Value 5 April 2025 £ 132,906 280,736 130,194 285,899 131,173 120,670 132,916 £ 1,272,188 24,360 (29,204) 14,858 |
|---|---|
| 1,282,202 |
11. Funds
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