## **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** 1 ## **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. 2 ## **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)| |---|---|---| ||
|| 3 ## **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** 4 ## **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 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. 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 5 ## **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. 6 ## **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. 7 ## **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| |---|---|---|---| |||


|


| 8 ## **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| |---|---| 9 ## **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.