Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust Scottish Charity No. SC007390
Annual Report and Financial Statements
5 April 2025
Shepherd and Wedderburn LLP 1 West Regent Street Glasgow G2 1RW
Ref: AIG/CF/TZH/B5816.1
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Contents
| Contents | |
|---|---|
| Trustees' Annual Report Statement of Financial Activities Balance Sheet Notes Report of the Independent Examiner to the Trustees |
Page No. |
| 3-6 7 8 9-16 17 |
Page 2
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Trustees' Annual Report
Year ended 5 April 2025
The Trustees present their annual report and financial statements for the year ended 5 April 2025.
Objectives, Activities and Achievements
The objectives of the Trust are widely drawn and allow payments of income or capital to, or for the benefit of, such charitable purposes, institutions, societies or organisations as the Trustees in their absolute discretion may select. Without prejudice to the width of the charitable purposes, the Deed of Trust makes particular reference to the Christian Faith, the relief of suffering occasioned by war, local or national disasters and refugees, education and other bodies undertaking scientific or medical research and life long education.
The Trust primarily furthers its charitable purposes through making donations annually and invites applications/appeals from relevant bodies co-ordinated through its registered office.
The Trustees have considered all the appeals received during the year and resolved to make donations totalling £80,382.00 (2024; donations totalling £82,000.00) for a range of charitable purposes. Details of the donations are shown in Note 4 to the accounts.
The Trustees are comfortable that the objectives of the Trust continue to be met.
Financial Review, Investment policy and Reserves
The Trust is reliant on the income from its investments and cash for its incoming resources, the income from which was £97,281.84 in the year to 5 April 2025 (2024; £97,908.99). No income is raised from the public.
The financial position of the Trust and the activities during the period are stated in the attached accounts. The Trustees consider the financial position to be sound.
The Trustees note the performance of the trust portfolio over the period. Overall investment losses for the period were £191,689.76 (2024; £48,492.09 gains) which reflects the general market and economic sentiment over the year. The Trustees will continue to monitor the performance of the trust portfolio and take action as necessary. The timing of the accounts coincided with the knee-jerk drop in the markets following President Trump’s ‘Liberation Day’ announcement of global tariffs. It is worth reporting that global equity markets have recovered ground since 5 April 2025.
The Trustees have wide investment powers. They adopt a medium risk investment strategy aimed at generating both income and capital growth in the medium to longer term. They receive advice from professional investment managers regarding implementation of this strategy.
The Trustees retain sufficient reserves, all unrestricted, to ensure that the Trust is able to meet its objectives.
Structure, Governance and Management
The Trust was established by Deed of Trust by the Books of Council and Session on 29 August 1984.
dated 20 July 1984 and registered in
Trustees are appointed in accordance with the terms of the Deed of Trust. The Trustees throughout the year to 5 April 2024 were
==> picture [507 x 39] intentionally omitted <==
Page 3
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Trustees Annual Report (Contd)
Year ended 5 April 2025 (Contd)
Structure, Governance and Management (Contd)
Trustees are appointed by Deed of Assumption in accordance with the terms of the Deed of Trust. The Trustees seek to follow good practice and ensure that there is a broad and diverse mix of skills and experience within their number. The Trustees keep succession planning under review and when needed will seek to recruit new trustees based on their skill, experience and knowledge of the sector. On appointment, new trustees will be provided with a welcome pack including a history of the Trust, Trust Accounts, constitutional documents, a note on trustees duties and any other Codes of Conduct applicable at that time.
The Trustees have assessed the risks to which the charity is exposed, in particular those related to the financial and investment operations of the Trust, and are satisfied that systems are in place to minimise exposure to these risks. The variability of investment returns is mitigated by retaining investment managers and having a diversified portfolio.
The Secretaries to the Trust, to whom all applications should be made, are Shepherd and Wedderburn LLP, 1 West Regent Street, Glasgow, G2 1RW. Applications are passed to the Trustees for consideration, usually at an annual meeting when donations are agreed.
The Trustees are aware of their general duties as defined in the Charities and Trustee Investment (Scotland) Act 2005 and receive training from Shepherd and Wedderburn LLP as appropriate.
Future Plans
The Trustees have power to make payments of capital for charitable purposes. In exercise of that power, the Trustees may make donations in excess of the Trust's net distributable revenue in any year. The Trust's Accumulation Period has expired and the Trustees generally seek to distribute all revenue on an annual basis. There is presently no intention to alter their current strategy.
Page 4
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Trustees Annual Report (Contd) Year ended 5 April 2025 (Contd)
Reference and administrative details
| Charity Name: | The M.E.B. Charitable Trust |
|---|---|
| Scottish Charity No.: | SC007390 |
| Trustees: | |
| Principal address: | Shepherd and Wedderburn LLP |
| 1 West Regent Street | |
| Glasgow | |
| G2 1RW | |
| Bankers: | Bank of Scotland |
| 33 Old Broad Street | |
| London | |
| PO Box 1000 | |
| BX2 1LB | |
| Solicitors: | Shepherd and Wedderburn LLP |
| 1 West Regent Street | |
| Glasgow | |
| G2 1RW | |
| Investment Managers: | Evelyn Partners Investment Management LLP |
| 177 Bothwell Street | |
| Glasgow | |
| G2 7ER | |
| Independent Examiner: | |
| Armstrong Watson LLP | |
| 89 Seaward Street | |
| Kinning Park | |
| Glasgow | |
| G41 1HJ |
Page 5
Docusign Envelope ID: CSAC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Trustees Annual Report (Contd)
Year ended 5 April 2025 (Contd)
Statement of responsibilities of the Trustees
The law appicable to charities in Scotland requires the Trustees to prepare or have prepared on their behalf accounts for each financial year which give a true and fair view of the state of affairs of the Charity at the end of the year and of its financial activities during the year then ended. In preparing or arranging preparation of those accounts, the Trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
- observe the methods and principles in the Charities SORP;
-
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures being disclosed and explained in the financial statements;
-
- prepare the financial statements on the going concern basis unless there are indications to the contrary.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and The Charities Accounts (Scotland) Regulations 2006 (as amended). They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities
ee. OS ee)ee|
Page 6
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Statement of Financial Activities
Year to 5 April 2025
| Year to 5 April 2025 | ||||
|---|---|---|---|---|
| Unrestricted | Funds | |||
| Capital | Revenue | Total Total |
||
| Notes | Fund | Fund | 2025 2024 |
|
| Income from: | £ | £ | £ £ |
|
| Investments | 2 | - | 97,281.84 | 97,281.84 97,908.99 |
| Total income | - | 97,281.84 | 97,281.84 97,908.99 |
|
| Expenditure on: | ||||
| Raising funds | ||||
| Investment management costs | 3 | 12,370.46 | - | 12,370.46 12,074.36 |
| Charitable activities | ||||
| Grants and donations | 4 | - | 80,382.00 | 80,382.00 82,000.00 |
| Support costs | 5 | 19,906.80 | 372.00 | 20,278.80 19,374.00 |
| Total expenditure | 32,277.26 | 80,754.00 | 113,031.26 113,448.36 |
|
| Net (expenditure)/income and net | ||||
| movement in funds before gains and | ||||
| losses on investments | (32,277.26) | 16,527.84 | (15,749.42) (15,539.37) |
|
| Net (losses)/gains on investments | 7 | (191,689.76) | - | (191,689.76) 48,492.09 |
| Net (expenditure)/income | (223,967.02) | 16,527.84 | (207,439.18) 32,952.72 |
|
| Transfers between funds | - | - | - - |
|
| Net movement in funds | (223,967.02) | 16,527.84 | (207,439.18) 32,952.72 |
|
| Reconciliation of funds | ||||
| Total funds brought forward | 2,631,062.74 | 43,830.71 | 2,674,893.45 2,641,940.73 |
|
| Total funds carried forward | 2,407,095.72 | 60,358.55 | 2,467,454.27 2,674,893.45 |
|
Notes:
The Statement of Financial Activities includes all gains and losses recognised in year. All income and expenditure derive from continuing activities.
The Notes on Pages 9 to 16 form part of these accounts.
Page 7
Docusign Envelope ID: CSAC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
==> picture [481 x 519] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Balance|Sheet|
|As|at|5|April|2025|
|2025|2024|
|£|£|£|£|
|Fixed|assets:|
|Investments|7|2,458,101.67|2,657 ,537.20|
|Cash|held|for investment|6,523.49|8,634.89|
|Total|fixed|assets|2,464,625.16|2,666,172.09|
|Current|assets:|
|Cash|held|by:|
|Evelyn|Partners|Investment|Management|LLP|
|income|account|2,793.67|2,976.98|
|Shepherd|and|Wedderburn|LLP|11,686.00|21,241.90|
|14,479.67|24,218.88|
|Total|current|assets|14,479.67|24,218.88|
|Current|liabilities:|
|Creditors|falling|due|within|one|year:|
|Donations|due|to|be|paid|-|2,000.00|
|Shepherd|and|Wedderburn|LLP|fees|7,920.00|9,750.00|
|Evelyn|Partners|Investment|Management|LLP|2,998.56|3,015.52|
|Armstong|Watson|LLP|732.00|732.00|
|11,650.56|15,497.52|
|Net|current|assets|2,829.11|8,721.36|
|Net|assets|2,467|454.27|2,674,893.45|
|The|funds|of the|charity:|
|Unrestricted|funds:|
|Capital|fund|8|2.407.095.72|2,631|,062.74|
|Revenue|fund|8|60,358.55|43,830.71|
|Total|charity funds|2,467|,454.27|2,674,893.45|
----- End of picture text -----
The statement of accounts set out on pages 7-16 were approved by the
Trustees on I TET Sr hint ta tae ahi eel ath
The notes on pages 9 to 16 form part of these accounts.
Page 8
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Notes to the Accounts
Year to 5 April 2025
1 Accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to these financial statements.
(a) Basis of Preparation
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with The Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended), the Charities SORP (FRS 102) "Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019)" and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are stated in pence.
The financial statements have been prepared under the historical accounting convention, modified to include the revaluation of investments at market value.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
(b) Investments
Investments in quoted shares, traded bonds and similar investments are included initially at cost and subsequently at fair value (their market value). Realised gains and losses, representing the difference between sale proceeds and market value at the previous financial year end, or cost if acquired during the financial year, and unrealised gains and losses, representing the movement in the market value of investments over the financial year, or from their date of purchase if acquired during the financial year, are aggregated in the Statement of Financial Activities.
(c) Income recognition
All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Gifts made to the Trust are recognised when they have been communicated to the Trust in writing containing both the amount and the settlement date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 9
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Notes to the Accounts (Contd)
Year to 5 April 2025 (Contd)
1 Accounting policies (Contd)
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that will be required and the amount of the obligation can be measured reliably.
All expenditure including grants, donations, support costs and governance costs, is recognised on an accruals basis. Expenditure is allocated in the Statement of Financial Activities under headings that aggregate all related costs.
Grants and donations are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to that grant are outside the control of the Trust.
(e) Funds
The Trust maintains Capital and Revenue funds.
The Capital fund represents the original gifts by the Settlor (less any capital sums applied for charitable purposes) together with realised and unrealised gains and losses on the Trust's investments, less any costs, attributable to the Capital fund.
The Revenue fund is usually fully expended each year. Any Revenue fund balance which might remain in any year represents the balance by which income has exceeded expenditure and has not yet been expended.
There are no restrictions imposed by the Trust Deed in relation to expenditure of capital.
(f) Raising funds
The costs of raising funds consist of investment management costs.
(g) Charitable activities
Costs of charitable activities include grants and donations made and support costs, including governance costs.
(h) Taxation
The charity is exempt from tax on its charitable activities.
(i) Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Page 10
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Notes to the Accounts (Contd)
Year to 5 April 2025 (Contd)
2 Investment Income
| Interest - fixed interest securities Property income distributions - equities Dividends - equities Interest on cash deposits Investment management costs Investment management fees Legal Entity Identifier renewal costs |
2025 2024 £ £ 18,949.47 14,996.09 6,576.25 7,811.50 71,284.15 74,552.12 471.97 549.28 97,281.84 97,908.99 2025 2024 £ £ 12,298.46 12,002.36 72.00 72.00 12,370.46 12,074.36 |
|---|---|
3 Investment management costs
4 Grants and donations
| Grants and donations made during the year were as follows - Age concern Age Scotland Good Morning Project (Good Morning Service) Re-Engage (formerly Contact the Elderly) Animals & birds Canine Concern Scotland Trust (Therapet) Scotland, the Big Picture Scottish Seabird Centre WWF Blind British Wireless for the Blind Fund Deafblind Scotland Guide Dogs for the Blind Association Royal National Institute of Blind People Sight Scotland (Royal Blind Asylum & School) |
2025 2024 £ £ 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 3,000.00 3,000.00 1,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 - 1,000.00 3,000.00 3,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 2,000.00 - 1,000.00 1,000.00 1,000.00 4,000.00 6,000.00 |
|---|---|
Page 11
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Notes to the Accounts (Contd)
Year to 5 April 2025 (Contd)
| 4 Grants and donations (contd) Deaf RNID (formerly Action on Hearing Loss Scotland) Hearing Dogs for Deaf People National Deaf Children's Society Children Articulate Callander Youth Project Trust Castlemilk Youth Complex - Youth Stress Centre Cerebral Palsy Scotland (formerly Bobath Scotland) Children 1st The Children's Wood Glasgow Children's Hospital Charity Kidney Kids Scotland MusicAll NSPCC Scotland Salvesen Mindroom Centre Save the Children UK SNAC Sunshine Wishes Children Charity Teapot Trust Medical research Asthma UK (Ashma and Lung UK) Epilepsy Scotland Kidney Care UK Scottish Autism Tenovus Scotland |
2025 2024 £ £ 1,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 3,000.00 2,000.00 - 1,000.00 1,000.00 - 1,000.00 1,000.00 1,000.00 2,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 - 1,000.00 2,000.00 - 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 13,000.00 14,000.00 1,000.00 - - 1,000.00 - 1,000.00 - 1,000.00 2,000.00 1,000.00 3,000.00 4,000.00 |
|---|---|
Page 12
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Notes to the Accounts (Contd)
Year to 5 April 2025 (Contd)
| 4 Grants and donations (contd) Welfare Beatson Cancer Charity Blood Cancer UK Butterfly Trust Cancer Support Scotland Clyde Cruising Club Seamanship and Pilotage Trust The Colquhoun Bequest Fund for Incurables Charitable Trust Corbenic Camphill Community Cruse Bereavement Scotland Enable Erskine Glasgow City Mission Headway Glasgow Hospital Broadcasting Service The King's Trust (formerly The Prince's Trust) Lodging House Mission Lomond Mountain Rescue MacMillan Cancer Support Maggie's Glasgow Marie Curie Mary's Meals Maxie Richards Foundation MS Society Scotland Nil by Mouth Pain Concern Preshal Trust The Prince & Princess of Wales Hospice Riding for the Disabled Association Ronald McDonald House Glasgow Salvation Army SCIAF Scottish Huntington's Association Spina Bifida Hydrocephalus Scotland St Margaret of Scotland Hospice St Vincent's Hospice Tourette Scotland University of Glasgow (Talent Scholarship Fund) Cultural & social Beatroute Arts Friends of Geilston National Theatre of Scotland Royal Scottish National Orchestra Scottish Opera |
2025 2024 £ £ 1,000.00 1,000.00 - 1,000.00 1,000.00 - - 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 2,000.00 1,000.00 - 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 1,000.00 1,000.00 2,000.00 2,000.00 2,000.00 2,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 - 1,000.00 - 1,000.00 1,000.00 1,000.00 2,000.00 1,000.00 1,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 1,000.00 1,000.00 - - 1,000.00 1,000.00 - 1,000.00 - 1,000.00 - 31,000.00 31,000.00 1,000.00 - - 1,000.00 1,000.00 - 1,000.00 1,000.00 1,000.00 1,000.00 4,000.00 3,000.00 |
|---|---|
Page 13
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Notes to the Accounts (Contd)
Year to 5 April 2025 (Contd)
| 4 Grants and donations (contd) Services Earl Haig Fund (Poppy Scotland) Sailors' Society Scotland's Bravest Manufacturing Company Scotland's Charity Air Ambulance The Soldiers, Sailors, Airmen & Families Association Youth organisations Dunbartonshire District Scout Council First Cardross Brownies First Cardross Rainbows Unit National Youth Choir of Scotland National Youth Orchestras of Scotland The Sir Thomas Lipton Foundation Venture Scotland Religious Bethany Christian Trust Cardross Parish Church St Michael & All Angels Church, Helensburgh Special appeals Helensburgh Music Society Whereof: - Charged to capital - Charged to revenue |
2025 2024 £ £ 1,000.00 2,000.00 - 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 4,000.00 6,000.00 1,000.00 1,000.00 600.00 1,000.00 400.00 - 1,000.00 1,000.00 1,000.00 1,000.00 - 1,000.00 1,000.00 - 5,000.00 5,000.00 1,000.00 1,000.00 2,000.00 2,000.00 2,000.00 2,000.00 5,000.00 5,000.00 2,382.00 - 2,382.00 - 80,382.00 82,000.00 - - 80,382.00 82,000.00 80,382.00 82,000.00 |
|---|---|
Page 14
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Notes to the Accounts (Contd)
Year to 5 April 2025 (Contd)
5 Support costs
| Support costs | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Governance costs: | ||
| Administration costs | 19,546.80 | 18,642.00 |
| Independent Examiner's fee | 732.00 | 732.00 |
| 20,278.80 | 19,374.00 |
6 Related party transactions and trustees’ expenses
The Directors of Vindex Trustees Ltd, one of the Trustees, are members of Shepherd and Wedderburn LLP. Shepherd and Wedderburn LLP fees for the period amount to £19.540.80, £11,620.80 was paid during the year and £7,920.00 is outstanding at the year end.
Evelyn Partners Investment Management LLP fees for the period amounted to £12,298.46, £9,299.90 was paid during the year and £2,998.56 is outstanding at the year end.
During the year an award of £1,000.00 was made to SNAC. | An award of £1,000.00 was made to this charity during the year.
| 7 | Fixed asset investments | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Market value at beginning ofyear | 2,657,537.20 | 2,622,017.50 | |
| Funds invested during year | 317,225.79 | 169,072.04 | |
| Disposals during year | (324,971.56) | (182,044.43) | |
| Net realised investment (losses) | (11,294.44) | (13,319.32) | |
| Net unrealised investment (losses)/gains | (180,395.32) | 61,811.41 | |
| Market value at end of year | 2,458,101.67 | 2,657,537.20 | |
| Investments at market value comprised: | |||
| Fixed interest securities | 413,799.10 | 363,844.58 | |
| Equities | 2,044,302.57 | 2,293,692.62 | |
| 2,458,101.67 | 2,657,537.20 |
Page 15
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
Notes to the Accounts (Contd)
Year to 5 April 2025 (Contd)
8 Movement in funds
| Analysis of fund movement Unrestricted funds Capital Revenue Total funds |
At Income Expenditure Gains and At 05/04/2024 (losses) 05/04/2025 £ £ £ £ £ 2,631,062.74 - (32,277.26) (191,689.76) 2,407,095.72 43,830.71 97,281.84 (80,754.00) - 60,358.55 2,674,893.45 97,281.84 (113,031.26) (191,689.76) 2,467,454.27 |
|---|---|
Comparatives for movement in funds
| Unrestricted funds Capital Revenue Total funds |
At Gains and At 05/04/2023 Income Expenditure (losses) 05/04/2024 £ £ £ £ £ 2,613,653.01 - (31,082.36) 48,492.09 2,631,062.74 28,287.72 97,908.99 (82,366.00) - 43,830.71 2,641,940.73 97,908.99 (113,448.36) 48,492.09 2,674,893.45 |
|---|---|
9 Analysis of Net assets between funds
| Funds at 5 April 2025 as represented by: Tangible fixed assets Current assets Current liabilities |
Unrestricted Unrestricted funds funds 2025 2024 £ £ 2,464,625.16 2,666,172.09 14,479.67 24,218.88 (11,650.56) (15,497.52) 2,467,454.27 2,674,893.45 |
|---|---|
10 Commitments
There are no commitments at 5 April 2025.
Page 16
Docusign Envelope ID: CS5AC4CC1-18F2-4BF8-B900-265279256BEB
The M.E.B. Charitable Trust
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE M.E.B. CHARITABLE TRUST
| report on the accounts of the charity for the year ended 5 April 2025 which consist of a Statement of Financial Activities, a Balance Sheet and notes thereon.
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 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 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 | do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statements
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 8 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.
07 November 2025
==> picture [21 x 8] intentionally omitted <==
----- Start of picture text -----
Date
----- End of picture text -----
Armstrong Watson LLP 89 Seaward Street Kinning Park Glasgow G41 1HJ
Page 17
Docusign Envelope ID: C5AC4CC1-18F2-4BF8-B900-265279256BEB
DX:GW409 Glasgow T +44 (0)141 566 9900 F +44 (0)141 565 1222
shepwedd.com
1 West Regent Street Glasgow G2 1RW
Shepherd and Wedderburn LLP is a limited liability partnership incorporated in Scotland with number SO300895. Registered office and principal place of business: 9 Haymarket Square, Edinburgh EH3 8FY. The term partner in relation to Shepherd and Wedderburn LLP is used to refer to a member of Shepherd and Wedderburn LLP. A list of the names of the members is available for inspection at the principal place of business. All correspondence signed by a named individual is signed for and on behalf of Shepherd and Wedderburn LLP. Details of the country or jurisdiction in which the firm’s lawyers are professionally qualified are set out at shepwedd.com/legal-notices. Shepherd and Wedderburn LLP is regulated by the Law Society of Scotland and is authorised and regulated by the Solicitors Regulation Authority (with number 447895).