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2025-04-05-accounts

Charity registration number SC007519 (Scotiand}

WILLIAM SIMON WILSON CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

WILLIAM SIMON WILSON CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Charity number (Scotland) $C007519
independent examiner Lesiey Camochan BAccCA
1 Dashwoed Square
Newton Stewart
VWVigtownshire
DG8 6EQ
Bankers Royal Bank ofScotland
Ayr Chief Office
30 Sandgate
Ay?
KA7 1BW
Investment advisors Rathbones
George House
50 George Square
Glasgow
G21EH

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WILLIAM SIMON WILSON CHARITABLE TRUST

CONTENTS

Page
Trustees’ report 1-2
Statement oftrustees’ responsibilities 3
independentexaminer's report 4
Statement of financial activities 5
Balance sheet 6
Notestothefinancialstatements 7-13

WILLIAM SIMON WILSON CHARITABLE TRUST TRUSTEES' REPORT FOR THE YEAR ENDED § APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 {as amended) and “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 freland (FRS 102)" (effective 1 January 2919).

Objectives and activities

The principal objective of the trust is to help charitable causes as directed in the Deed of Trust and as determined by the trustees.

The objectives of the trust are the advancement of religion and education and the relief of poverty, suffering, disease, sickness, infirmity, age, distress, and the physically and mentally handicapped. The trustees may provide or make payment to proper objects of charity of scholarships, bursaries, prizes, allowances, fees, costs and expenses of and for religious, educational, training, instructional, cultural, medical, surgical, nursing, curative, research, recreative, welfare board. maintenance and other facilities and grants of all kinds.

lt is the policy of the charity that donations paid from the trust be used for the benefit or in furtherance of such purposes or such institutions, foundation or bodies or trusts as the law regards as charitable.

Ouring the year the charity continued to make such donations,

There have been no changes in objectives since the last annual report.

Grant Making Policy

The charity makes donations each year as agreed by the trustees.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievernents against objectives

The trust made 13 donations totalling £44,000 (2024: £41,000) during the year for a range of charitable purposes following a similar pattern to previous years. Details of the donations are shown in note 5.

Financial review

The financial statements have been prepared in accordance with current statutory requirements. The net movement in funds for the year was a deficit of £90,885 (2024 surplus £103,065), primarily due to the revaluation of shares.

Reserves policy

The trust's reserves, which are all unrestricted, are mainly invested in equities. The trust's investment policy is to increase income annually.

The trustees’ objectives are to distribute, after deducting management expenses, the majority of the income generated and to maintain sufficient capital to generate income for future distribution. Revenue will be accumulated for disbursement in accordance with the trustees’ decisions and in order to support ongoing projects to which the trust has been committed.

investment Policy

The charity trustees have the power to make any investments which they see fit.

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WILLIAM SIMON WILSON CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

Structure, governance and management

The trust, which is a recognised charity in Scotland, is operated under the rules of its Trust Deed dated 17th January 1983.

CU during the year and up to the date of signature of the financial statements were:

Reciuiiment and appoiniment of trustees

The Trust Deed of the trust states the number of Trustees shall not be fess than 2 or more than 7. The power of appointing new or additional Trustees shail be vested in the Trustees.

None of the trustees has any beneficial interest in the trust.

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: fr-- was- ) the Board of Trustees.
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Trustee

Trustee

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WILLIAM SIMON WILSON CHARITABLE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 5 APRIL 2025

The trustees are responsible for preparing the Trustees’ Report 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 year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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WILLIAM SIMON WILSON CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TC THE TRUSTEES OF WILLIAM SIMON WILSON CHARITABLE TRUST

} report on the financial statements of the charity for the year ended 5 April 2025, which are set out on pages 5 fo 13.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the financial statements 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)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.

It is my responsibility to examine the financial statements as required under section 44(1)(c)of the Charities and Trustee Investment (Scotland) Act 2005 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 financial statements presented with those records. It also includes. consideration of any unusual items or disclosures in the financial statements, and seeking 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 ido 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

  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 Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and . to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006

have not been mét, of

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial

Date: tt [0a

WILLIAM SIMON WILSON CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Unrestricted|Total|Unrestricted|Unrestricted|Total| |funds|funds|funds|funds| |general|designated|general|designated| |2025|2025|2025|2024|2024|2024| |Notes|£|£|£|£|£|£| |income|from:| |investments|3|42,400|-|42,400|40,056|-|40,056| |Total|income|42,400|-|42,400|40,056|-|40,056| |Expenditure|on:| |Raising|funds|4|4,571|-|4,571|4,347|-|4,347| |Charitable|activities|5|44,660|-|44,660|44,614|-|41,614| |Total expenditure|49,231|-|49,231|45,961|-|45,961| |Net|gains/{(losses)|on| |investments|9|-|(84,054)|(84,054)|-|108,970|408,970| |Net income/(expenditure}|(6,831)|(84,054)|(80,885)|(5,905)|108,970|103,065| |Transfers|between| |funds|-|-|-|659|(659)|-| |Net|movement|in| |funds|(6,831)|(84,054)|(30,885)|(5,246)|108,311|103,065| |Reconciliation|of funds:| |Fund|balances|at 6 April|2024|20,455|1,262,909|1,283,364|25,701|1,154,598|1,180,299| |Fund|balances|at|§ April|2025|13,624|1,178,855|1,192,479|20,455|1,262,909|1,283,364|

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The statement of financial activities includes all gains and lasses recognised in the year. All income and expenditure derive from continuing activities.

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WILLIAM SIMON WILSON CHARITABLE TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

2025 2024
Notes £ £ £ £
Fixed assets
Investments 11 1,178,855 1,262,909
Current assets
Cash at bank and in hand 15,187 22,098
Crediters: amounts falling due within 12
one year (1.563) (1,643)
Net current assets 13,624 20,455
Total assets fess current liabilities 1,192,479 1,283,364
The funds of the charity
Unrestricted funds - general 14 13,624 20,455
Unrestricted funds - designated 13 1,178,855 1,262,909
1,192,479 1,283,364

The financial statements were approved by the trustees on 1S [Ulas |

Trustee

Trustee

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WILLIAM SIMON WILSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

Charity information

William Sirnon Wilson Charitable Trust is constituted under a deed of trust.

1.1. Basis of preparation The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotiand) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard appficable in the UK and Republic of Ireland“ and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are’set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. if the amount is not known, the legacy Is treated as a contingent asset.

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WILLIAM SIMON WILSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

4 Accounting policies

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(Continued)
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Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probabie that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for gcods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

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WILLIAM SIMON WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

z Critical accounting estimates and judgements

in the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods,

3 Income from investments

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|||||| |---|---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2025|2024| |£|£| |income from|UK|investments|30,277|27,262| |income from|foreign|investments|12,016|12,583| |interest|receivable|107|211| |42,400|40,056| |4|Expenditure|on|raising|funds|

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|||||||| |---|---|---|---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2025|2024| |£|£| |investment management|4,571|4,347| |5|Expenditure|on|charitable|activities| |Charitable|Charitable| |expenditure|expenditure| |2025|2024| |£|£| |Direct|costs| |Donations|44,000|41,000| |Share|of support and|governance|costs|(see|note|6)| |Governance|660|614| |44,660|41,614| |Analysis|by fund| |Unrestricted|funds|- general|44,660|41,614|

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WILLIAM SIMON WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

5 Expenditureon charitable activities (Continued)
Donations
SC041655		 £
2,500		 £
2,500
$C039050
$C008731		 500
1,000		 500
1,000
1127392 - 250
§C041996
$C007410		 500
24,000		 500
20,000
SC038865 - 500
1139377 - 750
$C037425 10,000 40,000
SC044368 250 250
$C003147 250 500
$C009359 750 750
$C037984
$C000357		 2,000
1,000		 2,000
-
$C052739 4,000 -
$C037789
Total		 250
44,000		 -
41,000
6 Supportcosts allocated to activities
Charitable Total
expenditure
2025 2024
E £
Governance 660 614
7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

No expenses were reimbursed to any of the trustees during the year.

8 Emptoyees

The average monthly number of employees during the year was: average monthly number of employees during the year was: monthly number of employees during the year was: number of employees during the year was: of employees during the year was: employees during the year was: during the year was: year was: was:

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The average monthly number of employees during the year was: average monthly number of employees during the year was: monthly number of employees during the year was: number of employees during the year was: of employees during the year was: employees during the year was: during the year was: year was: was: 2025 2024
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.
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WILLIAM SIMON WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

3 Gains and losses on investments

Unrestricted Unrestricted
funds funds
designated designated
2025 2024
£ if
Gains/(losses) arising on investments (84,054) 408,970

10 = Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 ~—«~Fixed asset investments

Listed
investments
£
Cost or valuation
At 6 April 2024 1,262,909
Valuation changes (84,054)
At 5 April 2025 1,178,855
Carrying amount
At 05 April 2025 4,178,855
At05April2024 4,262,909

All investments are carried at the fair value. investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investments funds, unit trusts and open-ended investment companies are at the bid price. Asset sales and purchases are recognised at the date of trade ar cost (that is their transaction value).

The historical value of the investments is £640,493 (2024: £640,493).

12 Creditors: amounts falling due within one year

Creditors: amountsamounts falling due within one yearwithin one yearone yearyear
2025 2024
£ £
Other creditors 1,063 4,143
Accruals and deferred income 500 500
1,563 4,643

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WILLIAM SIMON WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

13. Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities.

At6April
2024		 Transfers Gainsand
losses		 At5Aprit
2025
£ £ £ £
Rathbones Investments 4,262,909 - (84,054) 1,178,855
Previous year: At 6April
2023		 Transfers Gainsand
losses		 At §April
2024
£ £ £ £
Rathkones Investments 1,154,598 (659) 108,970 1,262,909
14 Unrestricted funds
At6 6April
2024		 Incoming
resources		 Resources
expended		 Transfers At5April
2025
£ £ £ £ £
Genera! funds 20,455 42,400 (49,231) - 13,624
Previous year: At6 6April
2023		 Incoming
resources		 Resources
expended		 Transfers At5Aprii
2024
£ £ £ £ £
General funds 25,701 40,056 (45,961) 659 20,455 -
15 Anatysis ofnetassets between funds
Unrestricted Unrestricted Total
funds funds
general designated
2025 2025 2025
£ £ £
At 5 April 2028:
investments - 1,178,855 1,178,855
Current assets/(flabilities) 13,624 - 43,624
13,624 1,178,855 1,192,479

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WILLIAM SIMON WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

15 Analysis of net assets between funds

{Continued}

Unrestricted Unrestricted Total
funds funds
general designated
2024 2024 2024
£ £ £
At5 April 2024:
investments - 1,262,909 4,262,909
Current assets/(liabilities) 20,455 - 20,455
20,455 4,262,909 4,283,364

46 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

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