Swinton Paterson Miss M E Swinton Paterson's Charitsble Trust REPORT AND ACCOUNTS For the year ended 5 April 2026 36 India Street Edinburgh EH3 6HB Scottish Charfty No SC004835
Mlss M E Swlnton Paterson's Charitable Trust Report and Accounts For the year ended 5 April 2026 Contsnts Page No Trustees, Report Independent Examinerfs Report Statement of Financial Activrties Balance Sheet Notes to the Accounts
Miss M E Swinton Paterson's Charitable Trust Trustees, Report For thè yaar ended 5 Aprll 2026 Introduction The Trustees present their report and the financial statements of the Charity for the year ended 5 April 2026. The financial statements have been prepared in accordance with the accounting policiès set out in Note 1 to the AcGounls and comply with the Charity's Trust Deed, Ihe Charities and Truste6 Investment (Scotland) Act 2005, the Charities Accounts {Scotlandl Regulations 2006 las amended) and Accounting and Reporting by Charitie8: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1 January 2019. Ob actlves Actlvltles and Grant-makln Polle Th8 purpose of the Trust is to make payment5 for Gharitable purposes to Gharitable institutions, societie8, foundations or funds as the Trustees in their sole discretion decide. The Trustees hold the funds as specified in the Deed of Trust. Th8 8xpr8ssion 'charitabl8 purposes" means a charltable purpose as deflned in Sectlon 7 of the Charities & Trustee Investment (Scotland) Act 2005 and which is also regarded 85 a charitable purpose in relation to thè application of th8 Taxes Acts. Achlevements and Perfomiance During the period of these Accounts the Trustees made grants to 4 organisations amounting in total to £21,000 (2025 - 4 organisations totalling £22,000). Further details are contained in Note 4 to the Accounts. Flnanclal Revlew During the period of these Accounls the Trustees made granls as noted above. The investment income received by the Trust during the year amounted to £23,587 (2025 £22,983). Realised gains and losses on sales of shares were nil and there were unrealised losses of £30,236 {during the previous year there were unrealised losses of £47,932). There was a surplus on the General Funds of £2,578 {2025- surplus of £213} reflecting the lev81 of donations in the year and a deficit of £32,156 12025 - deficit of £49,762) on the Capital (designated) Fund reflecting the unrealised investment losses noted above. The total value of the trust ftjnds held as at 5 Aprll 2026 amounted to £756,858 (2025 - £786,436). The Trustees are satisfied that adequate funds were available at the Balance Sheet dale to continue to fulfil the charitable objectives of the Trust.
Investment olic and erformance The Trust'5 investments are included in the designated Capf(al Fund. The investment objective of the Trustees is to achieve an above average income yield together with growth of income over the long tem. To implement that objective, CCLA manage the investment portfolio on behalf of the Trustees. The value of the portfolio decreased from £780,700 to £730,464 during the period. Risk Mana ement The principal risks faced by the Trust li8 in th8 P8rfomianc8 of investménts and from ineffedive grant making. The Trustees Gonsider variability of investment returns on the capital (designated) fund to constitute the charity's major financial risk. This is mitigated by retaining expert investment managers and having a diversified investment portfolio. Th8 Trust88s have dir8ct8d the investment managers lo manage the funds with a balance between income and capital growih and a mediumlhigh risk classification. The Trustees consider each application in line with the Trust's grant making policy. In making decision on whether to support each application the Trustees will consider the infomation provided and whether this is in line with Ihe grant making policy before deciding to make the grant or not. Re8eNe8 Pollc The Trustees have chosen to designate the capital funds held by the Trust, being the original capital of the Trust, adjusted annually for income, grants and fees related to capital and for investment gains and losses, to preserve the income generating capacity of the Trust., they hav8 power to apply the Capilal and the general funds towards the charitable purposes to such an extent as they may from time to time think frt. At the end of the financial year, th8 Trustees aim to hold approximately one year's operating costs in the general fund. The Trustees review all applications for support during the year and make decision5 on whether to support applications based on the application and the funds available to distribute. Structure Governance and Mana om8nt The Charity was formed in October 1989. The founding document was th& Will of Miss M E Swinton Paterson who dièd on 26 October 1989. The Trustees who Served during the period of these Accounts are noted on Page 3. In appointing Trustees, the Board seeks to maintain a balance of relevant skills and experience. New trustees receive copies of the Trust Deed. Minutes and Accounts and OSCR'8 Guidance. Appointments are not limited in time. The Trustees, who have wide investment powers, meet once a year to review the financial position ofthe Trust and make decisions on the application of income for charitable purposes. C S Kennedy WS, as Secretary and Treasurer of the Trust, administers the charity on a day to day basis. CCLA manage the investment portfolio on behalf of the Trust88S. Details of Transactions with Related Partles Callum Kennedy (frusteel was until 31. March 2025 a partner in the Firm of Lindsays LLP on which date he retired in accordance with the terms of th& Firm's Members Agrèement. Thereafter he continued as a salaried Consultant to the Firm until 31st July 2025 when he left the Firm's employment. During the period of these Accounts, a fee was paid to Lindsays LLP for the secretarial and administrative 8UPPOrt provided to the Trust and the Trustees had enlered into the
appropriate written agreement with Lindsays LLP V•ryth regard to these ser41S in Complian with the terms of S.67 of the Charities and Truste8 Investment (Scottand) Act 2025Referèncé and Administrative Infomiation. As fmm 1st August 2025. the Trustees have entered into a new agreernent wtth Callum Kennedy who will in a prtvate capactty continue to provide the secretartal and administrative support previously provided by Lindsays LLP. Reference and Administrativè Infomiatlon Scottish Charity Number.. SC004835 Trustees C S Kennedy WS R J Steel Mrs R M W Hamblln Mrs A G Getley Secrètary and Troasuror C S Kennedy WS Legal Advlser8 Lindsays LLP Caledonian Exchange 19A Canning Street Edinburgh EH3 8HE Independent Examlner Julian Cordery FCCA, FCA, CA Gibson McKerrell Burrows Limited 28 Rutland Square Edinburgh EH12BW Investment Managers CCLA COIF Charily Funds One Angel Lane London EC4R 3AB SL*ement ol Trustees Res onslbllltles The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law applicable to charitses in Scotland, the Charities arKI Trustee Investment (Scotland) Ad 2005, Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution requires Ihe 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required to Select suf(able accounting policies and then apply them consistently" Observe the methods and principles in the Charity SORP:
Make judgements and estimates that are reasonable and prudent., State whether applicable accounting standards have been followed, subject to any rnaterial departures disclosed and explained in the financial statements- Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Gharity will continue in business. The Trustees are responsible for keeping proper aGcounting records which disclose with reasonable accuracy at any time the financial position of the chartty and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Chartties Accounts (Scotland) Regulations 2006 las amended) and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for laking reasonable steps for the prevention and det8Ction of fraud and other irregularities. Approved by th8 Trust8es on . 2026 and signed on their behalf by.. C S Kennedy WS
Miss M E Swinton Paterson's Charitable Trust Independent Examinerfs Report to the Tru5tee5 For the year to S April 2026 I report on the Accounts of the Chartty for the year ended 5 April 2026 which are set out on pages 61011. Respective responsibllltles of trustees and examlner The chartty's trustees are responsible for the preparation of the accounts in accordan with the terms of the Charities and Trustee Investment (Scouand) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10{1)(a) to (c) of the 2006 Accounts Regulations dS 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. Basls of Independent examinefs statement My examination was carried OLrt in accordano with Regulation 11 of the 2006 Accounts Regulations. An examination indudes a review of the accounting records kept by the charity and a comparison of the accounts preserrted wtth those records. It also includes consideration of any unusual items or disdosures in the accounts and seeking explanations from you as trustees conmIng any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequerrtly I do not express an audit opinion on the view given by the accounts. Independent examinefs sLement 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 accordan wtth Section 44(1)(a} of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prepare accounts which aGcord wth the accounttng records and comply with Regulation 8 of the 2006 Accounts Regulations have not be8n met, or (2) to which, in my opinion, attention should be drawn in order to enable a proFer understanding of the accounts to be reached. ulian Cordery FCCA, FCA, CA Gibson McKerrell Burrows Limtted 28 Rutland Square Edinburgh EH12BW 0 5- (7r4kn7 2026
MISS M E SWINTON PATERSON'S CHARITABLE TRUST Ststsmentof Flnanclal Actlvitles Includlng Income ond Exp•ndllur• A¢¢ount For porlod ènd¢d 5 Aprll 2028 O•n•rat Dosillnat•d TOW funds 2026 2026 2026 2026 Incom& from: Investment income 23.587 23,587 22,983 Total Incom• 23.587 23,587 22,983 Charilable ActNthe8 21.009 1.920 22.929 24,600 Total oxpgndhurn 21.009 1,920 22.929 24,600 Not Incomellexpondlturel and movem•nt In fund• boforo gal •nd loss•• on In¥Mbnonts 1578 11.9201 658 11.6171 Othor rec n18 aln81 lo R8all8ed galn8111088881 on disFQ8al of Inve8bnents Unreallsed1106Be8llgains on investments 130,2381 130,2381 147,9321 130.2381 130,2381 147,9321 N•t mt)v•rn•nt In fund8 1578 {32.1661 129.6781 {49.6491 Total fund8 brought forwaTd 21,2 764,574 786,438 835.985 Total lund¥J carrl•d forward 732,418 766.858 786h36 No trust activitie8 were aulO or dis*ntinUed durlng 8Jther ol Ihe two yearn. The Notes on Page8 8 to 11 fonn part of the6e Finan¢ial Ststsnts.
MISS M E SWINTON PATERSON'S CHARITABLE TRUST Balance Sheet As at 5 April 2026 Total funds Total funds 2026 2025 Fixed assets Inveslments 730.464 760.700 Current assa Debtors - accrued Income Cash held by LindsaHaMPden Bank 6.013 22,301 5.682 21,884 28,314 27,566 Crgdltor8: Amounts fallln due wSthln ong Accruals (1,9201 11.830) Net current assets 26,394 25,736 756.858 786.436 Totsl Charl Funds Unrestrlcted funds 756,858 786,436 Approved by Ihe Tnjstw on behalf by C S Kennedy. WS 2026 and signed on their The Note$ on Pages 8 to 11 f part of these Financial Statements.
Miss M E Swinton Paterson's Charitable Trust Notes to the Accounts For year ended 5 April 2026 Prlncl al Accountln Pollcles la) Basis of preparation and assessrnent of going concem The accounts {financial Statements) have been prepared under the htstorical cost convention with items recognised at cost or transaction value unless otherwise slated in the levant note to these accounts and in aCrdance with the Statement of Recommended Pracb"ce.' Accounting and ReFM)rting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 (Second edition October 2019), the Charittes and Trustee Investment {Seolandl Act 2005 and the Charitses AOunts (SlendI Regulations 2006 {as amended). The Trust constitutes a public benefft entity as defined by FRS102. The Trustees consider there are no material UnrtaIntieS about the Trusvs ability to continue as a going concem. (b) Financial rgPQrting stsndard 102- roduced di5¢1osure exemptions The charity has taken advantage of the following disclosure exemption in preparing these accounts, as permitted by the Finanual Retmxtsng Standard applicable in the United Kingdo and Republic of Ireland IFRS102)'. - the requirements of Section 7 Slatement of Cash FIcAvs (c) Funds Structure All of the Charity's fijnds are unrestricted.. the Trustees have chosen to designate the capital funds of the charity to more clearty identify the income available for distribution. Al of the Charity's fund5 a available to used in furtherance of the charitable objects. Id) Income Recognition l income is recognised once the charity has entitlement to the income, it is probable that the income will be recelved and the amount of income receivable can te measured reliably. Interest on fvnds held on deposit is included when receivable and the amount can be measured reliabty by the charlty". this is noMial uwn notlfication of the interest paid or payable by the bank Dividends are recognised once the dwidend has been declared and nobfication has been rNed ofthe dNidend due. le) Expendituro TOgnitiO Liabilib"es are recognised as expenditure as soon as there is a legal or constructive obligation commitbng the charity to that expenditure. it [5 probable that settlement will be required and the amount of the obligation can be measured reliabiy. Al expenditure is accountgj for on an accruals basis. Al expenses including support costs and govemance costs are allc¢ated or apportioned to the aPpIable expenditure headings. For more inf0Mtion on this attribution refer lo note (il below. Grants payable are payments rnade to third parbes in the fijrtherance of the charitable objects of the Trust. In the case of an uncondittonal grant offer this is accrued once the recipient has been notffied of the grant award,. the nots"fication gives the recipient a reasonable expectation that they wll recewe a grant Grant awards that are subject to the recipient fvlfilling conditions are onty accrued when the recipient has b&n notrfied of the grant and any remaining unful)Slled condtbon attaching to that grant is outside of the ntrol of the Trust
Provisions for grants are made vthen the intention to make a grant has been communicated to the recipient but the is uncertainty as to the timing of the grant or the amount of grant payable. io Irrecoverable VAT Irrecoverable VAT is charged against the expenditure heading for which r( was incurraj. Igl Costs of rnhlng funds The costs of raIng fvnds con$t of Investment management costs. (h} Charttable actlvltle8 Costs of charitable actNities include grants made, support and govemance costs as shown in note 4. Support and govemance c08ts Support Costs have been allccated betsveen govemance costs and other support costs. Governance costs comprise all costs invofvlng the public accounlabS1ity of the chadty and its compliance wtih regulation and good practice. These costs include costs related to Independent examinats'on and an apporb"onment of ovethead and support oosls. Govemance costs and support costs relating to charilable actNlties have been apportloned beeen funds based on an estimate by the Trustee. The allan of support and govemance costs Is anaty5ed in note 4. (il Flxed assot Invostments Investments are a fom of basic finandal Instrument and are Initialiy recognls8d al their transaction value and sUbSequenY measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial a¢twities includes th8 n8t galns and losses ansing on revaluation and disposals throughout the year. The Trust does not acqulre pul options, derivatives or other complex financial instruments. The main form of flnan¢ial risk faced by the charity is that of volatility in equity markets and investment markets due to wlder economic conditions, the attitude of inveslors to investrnenl risk, and Changes In sentiment concemin9 equlb'8s arKI within particular sectors or sub sector8. Ikl Reall8ed galns and lossos AJI gains and losses are taken to the Ststement of Financ¢81 ActNllles as they arise. Realised gains and losses on Investments affj calculated as the drfference beeen sales prOed5 and Ihelr opening carying value or their purchase value rf acquired subsequent lo the first day of the financial year. Unrealised gains and losses are calculated as the dlfference beeen the fair value at the year end and thelr carrying value. Cash and Cash equlvalgnts Cash and cash equwalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highw Ilquld investments that mature in no more than three months from the date of acquisition and that are readily convertible to known arnnts of cash wth insunific2nt risk of change in value.
Trusteos and Em lo The Trust has no employees and none ol the Twstses receNed any remuneration. norwere any eypenseB imbursed to Bny of them, during the rrent or preytous year. nvestment Incom• Genernl Desillnated Tolal lun 2026 2026 2026 2026 UK Inwtmwts- L Inler8St 23,463 124 22.591 392 124 23.7 23.587 22.983 rnntmakln The Ch8rty not und¢rtgk• orbythorilabki a(#Nitydiredty but ts dwritobkn purpowi throah gron¢-making. DuriryJ theyear grBnls And th8ritab donAlkJn8re mAda Trustaes to the lolbylng organhoons.' Gonornl bJnatsd T¢[ fvrKI8 2028 2026 2028 2025 Alzheim8r Scoyan Fbchy mUC HoroUo$ G8rd¢n InToooltsr Governor8 ol 0n#t & G•u¥fM TnJ8t Youth Enterpr S¢rlptur& Union SeollaTh HO8 & Minds Lld 5250 5250 5.250 5,250 5,250 5,250 5,250 5,2SO 6.QQO 6,000 6,000 4,000 21.fJy) 21,ofpJ 22,000 Secrelarfal and admlnbmcffj cojls M{1]8ne0uJ expen$es Act4)unllng lees 489 Govem ecos Independent examinatv)n Legal fees 1.440 1.372 385 1.440 1,757 21.1)Jg 1.V20 22.929 24.600 10