LADY HILDA V. YOUNGER’S TRUST
FOR THE ROYAL EDINBURGH REPOSITORY AND SELF-AID SOCIETY
TRUST ACCOUNT
Scottish Charity No. SC004575
FOR THE YEAR ENDED 31[ST] DECEMBER 2024
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LADY HILDA V. YOUNGER’S TRUST FOR ROYAL EDINBURGH REPOSITORY SELF AID SOCIETY
Scottish Charity No. SC004575
TRUST ACCOUNT
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31[ST] DECEMBER 2024
Reference and Administrative details
The Trust was administered by Rathbone Investment Management (formerly Speirs & Jeffrey, Stockbrokers) George House, 50 George Square, Glasgow, G2 1EH. Rathbones Investment Management are the Trust’s investment advisers.
The principal office address of the charity is 23A Castle Street, Edinburgh, EH2 3DN.
Trust Deed
The Trust was established by a Deed of Trust by Lady Hilda Vivien Butler or Younger dated 9[th] August, 1958 and registered in the Books of Council and Session on 12[th] December, 1958
Trustees
The present Trustees are , in her capacity as Chairman of the Executive Committee of The Royal Edinburgh Repository and Self-Aid Society and , Trustee for the Society.
Trustees are assumed (and resign) with the consent of the existing Trustees, under Section 3 of the Trusts (Scotland) Act 1921 and in accordance with the rules of the Charities Accounts (Scotland) Regulations 2006 and the Charities and Trustee Investment (Scotland) Act 2005.
In terms of the Trust Deed, the present President of The Royal Repository for the sale of Gentlewomen’s Handiwork or of any other body or Society with which it may become amalgamated or which may carry on its work in future shall be a Trustee ex officio. The present Chairman of Scottish Brewers Limited or of any other company with which it may amalgamate, or which may succeed to its business shall also be a Trustee ex officio.
The ex officio appointments are from organisations, which have both changed in nature.
Scottish Brewers Limited changed its name to Scottish & Newcastle Breweries Limited in September, 1960 which name was changed to Scottish & Newcastle Breweries plc. in August, 1981. Over recent years the Chairmen of Scottish and Newcastle Breweries plc, or S & N plc, have declined to take up office.
Scottish and Newcastle Breweries was acquired jointly by Heineken and Carlsberg in April 2008. The trading name “Scottish & Newcastle UK” is still being used for the time being to denote the UK trading name of Heineken International.
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LADY HILDA V. YOUNGER’S TRUST
FOR ROYAL EDINBURGH REPOSITORY SELF AID SOCIETY
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31[ST] DECEMBER 2024
Purpose (objectives), main activities and achievements
The Trust was established for, and the Trustees are directed to:-
Use the free income of the Trust Fund in making such grants as they shall in their sole discretion determine to Gentlewomen of small means who are or shall be members of the Royal Repository for the Sale of Gentlewomen’s work (“the Repository”) in terms of that body’s Deed of Constitution, or who are or shall be members of any body or society with which the Repository may become amalgamated or incorporated, provided that the Trustees approve of such amalgamation or incorporation.
On 30[th] June, 1977 the Repository amalgamated with the Royal Scottish Society for the Self Aid of Gentlewomen, the new Society being called The Royal Edinburgh Repository and Self-Aid Society.
By Minute of Trustees dated January, 1978, the Trustees agreed that the Trust income might be used to make grants to members of the new Society.
By letter dated 6[th] February, 1978, The Royal Edinburgh Repository and Self-Aid Society confirmed an undertaking to the Trustees that any monies received from the Trust would in future be applied in making grants to Gentlewomen of small means who were members of The Royal Edinburgh Repository and Self-Aid Society and that if there were any male members of the Society, they would not benefit from the Trust.
The Trustee’s power to accumulate the income of the Trust ceased on the death of Lady Hilda V. Younger on 14[th] September 1960.
Review of Financial Position
Donations totalling £7,868 were made during the year to 31[st] December 2024 to The Royal Edinburgh Repository and Self-Aid Society and the details of this are shown in these accounts. The receipts of the Trust during the period of the account total £7,517 and this is represented by investment income and bank interest. The Trust’s investments have been managed by Rathbones Investment Management since March 2007.
The Trust had a surplus of £2,178 during the year, compared to a deficit of £1,967 for the year to 31[st] December 2023. The surplus/(deficit) was allocated as follows: -
Capital Account Income Account |
31/12/24 £ 2,529 (351) 2,178 |
31/12/23 £ (1,926) (41) (1,967) |
|---|---|---|
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LADY HILDA V. YOUNGER’S TRUST FOR ROYAL EDINBURGH REPOSITORY SELF AID SOCIETY
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31[ST] DECEMBER 2024
Description of reserves policy
The free reserves of the Trust are the capital fund which stood at £2,530 at the end of the year. The Trustees’ policy is to disburse the whole of the net income in donations and to utilise the free reserves in any years of deficit.
Investment Policy
The Trustees have instructed the investment advisers that their attitude to risk is medium and the investment objective is a balanced return between income and capital growth. The advisers report on a three monthly basis to the Trustees.
Plans for Future Periods
The Trustees plan to continue to support Gentlewomen of small means who are or shall be members of the Royal Edinburgh Repository and Self-Aid Society.
Signed on behalf of the Trustees
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Independent Examiner’s Report To the Trustees of The Lady H.V. Younger’s Trust
I report on the accounts of the Trust for the year ended 31 December 2024, which comprise the receipts and payments account, the statement of balances and the related notes.
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) 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
-
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
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Member of the Institute of Chartered Accountants of Scotland
J S Accounting Services Limited 13-15 Morningside Drive Edinburgh EH10 5LZ
Date: 19/09/2025
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LADY HILDA V. YOUNGER TRUST
FOR THE ROYAL EDINBURGH REPOSITORY AND SELF-AID SOCIETY
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31[ST] DECEMBER 2024
| RECEIPTS Income from Investments Interest Proceeds from disposal of investments TOTAL RECEIPTS PAYMENTS Payment made for charitable activities Governance costs Purchase of investments TOTAL EXPENDITURE SURPLUS/(DEFICIT) FOR THE YEAR SURPLUS/(DEFICIT ALLOCATED THUS:- CAPITAL INCOME |
Note 4 5 6 7 |
2024 2023 £ £ 7,517 8,074 - - |
2024 2023 £ £ 7,517 8,074 - - |
2024 2023 £ £ 7,517 8,074 - - |
2024 2023 £ £ 7,517 8,074 - - |
|
|---|---|---|---|---|---|---|
| 7,517 47,538 _ 55,055 7,868 2,236 _ 10,104 42,773 ____ _ 52,877 2,178 2,529 (351) 2,178 |
8,074 61,004 _ 69,078 8,115 2,120 _ 10,235 60,810 ___ 71,045 (1,967) (1,926) (41) (1,967) |
|||||
The annexed notes form an integral part of these accounts.
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LADY HILDA V. YOUNGER TRUST FOR THE ROYAL EDINBURGH REPOSITORY AND SELF-AID SOCIETY STATEMENT OF BALANCES AS AT 31[ST] DECEMBER 2024
| Investments at Cost Market Value:- 31/12/24 £313,477 31/12/23 £306,949 Liabilities Cash at bank and in hand Represented by: Capital Account Income Account |
Note 3 9 8 2 2 |
31/12/24 £ 291,019 - 4,336 56 4,280 4,336 |
31/12/24 £ 291,019 - 4,336 56 4,280 4,336 |
31/12/23 £ 294,371 - 2,158 1,751 407 2,158 |
31/12/23 £ 294,371 - 2,158 1,751 407 2,158 |
|---|---|---|---|---|---|
Signed on behalf of the Trustees
Trustee Anne Young Date 19/8/2025
The annexed notes form an integral part of these accounts.
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LADY HILDA V. YOUNGER TRUST FOR THE ROYAL EDINBURGH REPOSITORY AND SELF-AID SOCIETY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024
1. Accounting policies
These accounts have been prepared on a receipts and payment basis, in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.
2. Reconciliation of funds
- 3. |
Note As at 31stDecember 2023 Income from managed investments 4 Proceeds from investment sale 6 Interest received 5 Donation 7 Governance costs 8 Purchase of Investments As at 31stDecember 2024 Summary of investment changes Cost of Investments held at 31stDecember 2024 Cost of Investments held at 31stDecember 2023 |
Capital Account £ 1,751 - 47,538 - - (2,236) ( 42,773) _____ 4,280 |
Income Account Total £ £ 407 2,158 7,517 7,517 - 47,538 - - (7,868) (7,868) - (2,236) - (42,773) ___ 56 4,336 £ 291,019 294,371 |
|---|---|---|---|
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LADY HILDA V. YOUNGER TRUST FOR THE ROYAL EDINBURGH REPOSITORY AND SELF-AID SOCIETY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[st ] DECEMBER 2024 (CONTD).
4. 5. 6. 7. 8. |
31/12/24 31/12/23 Investment Income £ £ Rathbones7,517 8,074 31/12/24 31/12/23 Proceeds from disposal of investments £ £ Sale of Investments47,538 61,004 Donation 31/12/24 31/12/23 £ £ Monies paid to The Royal Edinburgh Repository and Self Aid Society being balance of income as at 31/12/24 (31/12/23). 7,868 8,115 The Independent Examiner’s fees are paid by The Royal Edinburgh Repository and Self-Aid Society from the donation received from The Lady Hilda V Younger Trust. Governance costs 31/12/24 31/12/23 £ £ Custody Charge 2,236 2,120 Bank and cash in hand 31/12/24 31/12/23 £ £ Opening balances 2,158 4,125 Surplus/(deficit) for the year2,178 (1,967) Closing balances 4,336 2,158 |
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LADY HILDA V. YOUNGER TRUST FOR THE ROYAL EDINBURGH REPOSITORY AND SELF-AID SOCIETY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[st ] DECEMBER 2024 (CONTD).
9. Liabilities
The charity had no liabilities at the year-end. As stated in note 6, fees due to J S Accountancy Services in respect of the Independent Examination of the charity’s accounts, are paid by The Royal Edinburgh Repository and Self-Aid Society from the donation received from The Lady Hilda V Younger Trust.