2025-04-05-accounts - Robert Barr's Charitable Trust

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Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

)SW ShepherdWedderburn +

Robert Barr's Charitable Trust Scottish Charity No. SC007613

Annual Report and Financial Statements

5 April 2025

Shepherd and Wedderburn LLP 1 West Regent Street Glasgow G2 1RW

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Contents
	Page No.
Trustees’ Annual Report	3-6
Statement of Financial Activities	it
Balance Sheet	8
Cash Flow Statement	9-10
Notes	11-19
ReportoftheIndependentAuditortotheTrustees	20-22

Page 2

Robert Barr's Charitable Trust

Trustees' Annual Report

Year ended 5 April 2025

Objectives, Activities and Achievements

The Trustees are empowered, at their uncontrolled discretion, to apply the income of the Trust for charitable purposes (in the sense in which the expression is used in the Income and Corporation Taxes Act 1970 or any reenactment thereof) including the relief of poverty, aid for the aged, the infirm and the handicapped, the advancement of education, the provision of recreational facilities within the scope of the Recreational Charities Act, 1958, and the preservation of buildings or other items of national or historic interest. The Trustees may also apply the capital of the Trust for the same purposes.

The Trustees considered all the appeals received during the year and resolved to make donations totalling £850,000.00 for a range of charitable purposes. Details of the donations are shown in Note 4 to the accounts. In addition, the sum of £105,000.00 was transferred from the General Fund to the Designated Fund representing the conditional award to RNLI. Payments amounting to £655,000.00 were outstanding at close of period.

Future Plans

Although the Trustees have power to make payments of capital for charitable purposes, there are no plans to make any payments from capital in the foreseeable future. The Trustees will continue to make donations on an annual basis out of trust income.

At 5 April 2025, the Trustees had earmarked funds totalling £260,000.00 under the Designated Fund for making conditional awards to projects. This is broken down as follows; Charlie's House (£50,000.00), Isle of Gigha Heritage Trust (MUGA Project) (£10,000.00), The John Rae Society (Hall of Clestrain) (25,000.00), and RNLI (£175,000.00). During the year to 5 April 2025 the following donations were made from the Designated Fund; Dogs Trust (£25,000.00), Glencoe Folk Museum (£25,000.00), Perinatal Mental Health Borders (£20,000.00), RNLI (£75,000.00), Social Bite Scotland (£30,000.00), Visibility Scotland (£10,000.00), and Wiston Lodge (£10,000.00).

Structure, Governance and Management

The Trust was established by Deed of Trust by Robert Barr dated 26 August 1970.

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 principal risk facing the charity arises from the lack of diversity in its portfolio. The Trustees will continue to monitor the performance of their investment and if they consider it necessary, will seek investment advice and consider diversifying.

The Trust is principally a grant giving charity.

Page 3

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Trustees' Annual Report (Cont'd)

Year ended 5 April 2025 (Cont'd)

Structure, Governance and Management (Cont'd)

Applications from potential beneficiaries are collated by Shepherd & Wedderburn LLP during the year and are passed to the Trustees for consideration. The Trustees’ policy is that they will not normally support any charity more often than once every three years. On account of this the Trustees favour capital projects rather than contributions towards running costs. The Trustees are comfortable that they continue to meet their overarching aims and objectives. In the year ended 5 April 2025 the Trustees supported projects as detailed in Note 4 to the financial statements. Charities receiving donations are expected to provide progress reports to the Trustees with funding often phased over a number of years. The donations generally cover a wide range of categories including welfare, medical, arts, conservation and research.

The Trustees no longer have the power to accumulate income and, as such, a meeting of the Trustees takes place each year to decide what donations or savings out of income are to be made. In the past, reserves of income have been retained and applied to a Designated Fund in order that the Trustees may save towards the funding of a specific project.

Financial Review, Investment policy and Reserves

The Trustees have wide investment powers and in terms of power given to them in the Trust Deed, they have decided to retain the Trust's holding of 5,400,000 A G Barr Plc ordinary 4 1/6p shares.

The Trustees note the performance of the shareholding during the accounting period, increasing in value by £2,916,000.00 reflecting general market conditions and investor sentiment towards the company.

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 retain sufficient reserves, all unrestricted, to ensure that the Trust is able to meet its objectives.

Total reserves as at 5 April 2025 amounted to £34,853,773.48. Free reserves (i.e. after making allowances for designated funds of £260,000.00) as at 5 April 2025 amounted to £87,773.48.

Wbhg (Audit) Limited (formerly Wylie & Bisset (Audit) Limited) were re-appointed as auditors for the year ended 5 April 2025, in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. A resolution will be proposed at the Annual General Meeting that Wbog (Audit) Limited be re-appointed as auditors to the charity for the ensuing period.

Page 4

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Trustees’ Annual Report (Cont'd)

Year ended 5 April 2025 (Cont'd)

Reference and administrative details

==> picture [365 x 508] intentionally omitted <==

----- Start of picture text -----
Charity Name: Robert Barr's Charitable Trust
Scottish Charity No.: SC007613
a po
Principal address: Shepherd & 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 & Wedderburn LLP
1 West Regent Street
Glasgow
G2 1RW
Investment Advisors: Rathbones Investment Management Limited
50 George Square
Glasgow
G2 1EH
Auditors: Whbg (Audit) Limited
168 Bath Street
Glasgow
G2 4TP
----- End of picture text -----

Page 5

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Trustees' Annual Report (Cont'd)

Year ended 5 April 2025 (Cont'd)

Statement of responsibilities of the Trustees

The Trustees are responsible for preparing the Report of the Trustees 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 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;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
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 adequate 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 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.

In so far as the Trustees are aware, there is no relevant information of which the charity's auditors are unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken as trustees, in order to make themselves aware of all the relevant audit information and to establish that the charity's auditors are aware of that information.

Approved by the Trustees and signed on their behalf by:

IT ehLC1 <a

Page 6

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Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Balance Sheet

As at 5 April 2025
	Note		2025		2024
Fixed assets:			Ee		£
Investment	eC		34,506,000.00		31,590,000.00
Total fixed assets			34,506,000.00		31,590,000.00
Current assets:
Cash held by:
Shepherd and Wedderburn LLP		1,017 446.48		982,100.43
			1,017 446.48		982,100.43
Total current assets			1,017,446.48		982,100.43
Creditors falling due within one year
Charitable awards		655,000.00		589,000.00
Rathbones Investment Management Limited		50.00		50.00
Shepherd and Wedderburn LLP		7,500.00		9,090.00
Whg (Audit) Limited		7,123.00		6,780.00
			669,673.00		604,920.00
Net current assets			347,773.48		377,180.43
Net assets			34,853,773.48		31,967,180.43
The funds ofthe charity:
Unrestrictedfunds	8		34,853,773.48		31,967,180.43

The statement of accounts set out on pages 7 to 19 were approved by the

Trustees On wc R BRS ccc ccererereeees

The notes on pages 11 to 19 form part of these accounts.

Page 8

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Cash Flow Statement

Year to 5 April 2025
	2025	2024
	£	£
Cash flowsfrom operating activities
Cash used in operations	(810,772.50)	(649,822.00)
Cash flows from investing activities
Dividends and interest received	846,118.55	723,286.18
Net cash provided by investing activities	846,118.55	723,286.18
Change in cash and cash equivalents in
the reporting period	35,346.05	73,464.18
Cash and cash equivalents at the beginning
ofthe reporting period	982,100.43	908,636.25
Cash and cash equivalents atthe end
ofthereportingperiod	1,017,446.48	982,100.43

Page 9

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Cash Flow Statement

Year to 5 April 2025 (Cont'd)

Reconciliation of net (expenditure) to net cash flow from operating activities

Reconciliation of netnet (expenditure) to net cash flow fromfrom operating activities
	2025	2024
	£	£
Net (expenditure) forthe reporting period
(asperthestatement offinancial activities)	(29,406.95)	(519,897.82)
Adjustments for:
Dividends and interest received	(846, 118.55)	(723,286.18)
Increase in creditors	64,753.00	593,362.00
	(810,772.50)	(649,822.00)
Analysis ofcash and cash Equivalents
Notice deposits (less than 3 months)	1,017,446.48	982,100.43
Totalcashandcashequivalents	1,017,446.48	982,100.43

Page 10

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financial Statements

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 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 have been prepared under the historical cost accounting convention.

The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.

(b) Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The charity does not acquire put options, derivatives or other complex financial instruments.

(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.

(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 it will be required and the amount of the obligation can be measured reliably.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and other costs associated with complying with governance requirements.

Page 11

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financial Statements (Cont'd)

Year to 5 April 2025 (Cont'd)

1 Accounting policies (cont'd)

(d) Expenditure recognition (cont'd)

The allocation of governance costs is analysed in note 5.

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) Fund accounting

The charity's general funds consist of funds which the charity may use for its purposes at its discretion.

The charity has designated certain funds for specific purposes. These are explained in detail in Note 8 "Movement in funds". The Trustees have decided that setting aside funds in this way is a useful financial discipline which will help the charity make best use of its resources, even though there is no legal force to the designations.

(f) Charitable activities

Costs of charitable activities include grants and donations made and support costs, including governance costs.

(g) Taxation

The charity is exempt from tax on its charitable activities and is entitled under Section 13 (2) of The Charities and Trustee Investment (Scotland) Act 2005 to describe itself as a Scottish Charity.

(h) 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.

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Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financial Statements (Cont'd)

Year to 5 April 2025 (Cont'd)

2	Investment Income
			2025	2024
			£	ee
	Dividends - equities		837,000.00	715,500.00
	Interest on cash deposits		9,118.55	7,786.18
			846,118.55	723,286.18
3	Investment management costs
			2025	2024
			£	£
	Investment managementfees		200.00	200.00
4	Grants and donations
			2025	2024
	All grantsand donations were made to institutions asfollows:		rt	£
	Adult & Child Welfare
	Aberlour Scotland's Children's Charity		-	7,500.00
	AirdrieClarkston Parish Church *		5,000.00	-
	Ayr Archery Club *		2,500.00	-
	Ayrshire Hospice		-	25,000.00
	Bairnecessities Baby Bank *		10,000.00	-
	Beatson Cancer Charity *		15,000.00	-
	The Bread Maker *		5,000.00	-
	Bridgend Farmhouse		-	5,000.00
	Burntisland First Aid Services Trust		-	10,000.00
	Camphill Schoo! Aberdeen		-	15,000.00
	Capability Scotland *		10,000.00	-
	The Carrick Centre		-	5,000.00
	Children 1st (Bairns Hoose)		-	25,000.00
	CityChurch, Dundee		-	20,000.00
	Dean & Cauvin Young People's Trust		-	5,000.00
	Duloch Primary School Parent Council *		5,000.00	-
	Edinburgh Children's Hospital Charity (Beatlie)		-	10,000.00
	Edinburgh Leisure (Gracemount Leisure Centre	pool) *	25,000.00	-
	Ellen MacarthurCancer Trust *		5,000.00	-
	Emmaus Glasgow *		15,000.00	-
	Equi-Power		-	10,000.00
	The Felix Project *		7,500.00	-
	Girlguiding Kincardine & Deeside		-	(10,000.00)
	Glasgow North West Citizens Advice Bureau *		15,000.00	-
	Go Youth Trust *		20,000.00	-
	Harmeny Education Trust		-	12,500.00
	Hebridean Pursuits Outdoor Learning		-	20,000.00
	Helm Training		-	5,000.00
	HELP Appeal		-	25,000.00
	Hope Cohousing		-	10,000.00
	Interloch CommunityTransport *		20,000.00	-
		forward	160,000.00	200,000.00
		Page13

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financial Statements (Cont'd)

Year to 5 April 2025 (Cont'd)

Grantsanddonations(cont'd)	2025 £	2024 £
Adult & Child Welfare (Cont'd)
forward	160,000.00	200,000.00
Irvine & District Pipe Band	-	5,000.00
The Jeely Piece Club *	5,000.00	-
Killin and District Volunteer CarScheme	-	5,000.00
LochgellyBand	-	5,000.00
Macmillan Cancer Support	-	1,000.00
Medical Detection Dogs *	7,500.00	-
Milnathort Guide Hall Committee	-	10,000.00
Muirhead Outreach Project	-	15,000.00
Music in Hospitals & Care	-	10,000.00
North East Rider Volunteers Scotland *	5,000.00	-
NSPCC *	25,000.00	.
Ocean Youth TrustScotland *	10,000.00	.
Old Kilpatrick Community Council *	7,500.00	-
Orbiston Bowling Club *	5,000.00	-
The Outward Bound Trust (The Mark Scott Foundation)	-	30,000.00
Perinatal Mental Health Borders	20,000.00	-
Perth Autism Support	-	5,000.00
Place2Be	-	5,000.00
PlayWorks *	5,000.00	-
Plus Forth Valley Ltd *	25,000.00	-
The Prince & Princess ofWales Hospice	-	25,000.00
QME Care	-	5,000.00
Quarriers	-	25,000.00
The Royal Horticultural Society (GreaterManchesterWoodland Workshop)	-	25,000.00
RNLI	75,000.00	-
Royston Youth Action	-	5,000.00
Salvation Army (Kirkwall)	-	20,000.00
Scotland’s BravestManufacturing Company	-	10,000.00
Scottish Autism (Ardencraig)	-	15,000.00
Scottish Mountain Rescue	-	5,000.00
Scotland Yard Adventure Centre *	15,000.00	-
Scouts Scotland (Invertrossachs Outdoor Activity Centre)	-	10,000.00
Sea Cadets *	25,000.00	-
Seagate Church	-	5,000.00
Sedbergh School (500th AnniversaryCampaign)	-	20,000.00
The Silverlining Brain Injury Charity	-	5,000.00
Social Bite Scotland	30,000.00	-
The Spartans FC	-	25,000.00
Special Needs Adventure Playground *	5,000.00	-
St Andrews Men's Shed	-	5,000.00
St Chad's College, Durham	-	25,000.00
St Peter in Chains, Ardrossan	-	5,000.00
St Vincent's Hospice *	10,000.00	-
StrathspeyWorks *	20,000.00	-
Teen Ranch Scotland *	5,000.00	.
forward	460,000.00	526,000.00

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Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financial Statements (Cont'd)

Year to 5 April 2025 (Cont'd)

Grants and donations (cont'd)
	2025	2024
	£	2
Adult & Child Welfare (Cont'd)
forward	460,000.00	526,000.00
University ofGlasgow(Adam Smith Business Hub)	-	50,000.00
University ofGlasgow(McNab Centre microscope)	-	20,000.00
Upward Mobility Ltd *	5,000.00	.
Visibility Scotland	10,000.00	-
Volunteering Hebrides (Embark cycling project) *	10,000.00	-
Wiston Lodge	10,000.00	-
Young Enterprise Scotland	-	25,000.00
	495,000.00	621,000.00
Animal Welfare
Cetacean Research & Rescue Unit	-	5,000.00
Dogs Trust	25,000.00	-
European Squirrel Initiative *	5,000.00	-
RSPB (Glencripesdale)	-	10,000.00
Scottish Seabird Centre *	7,500.00	-
Scottish Society for Prevention of Cruelty toAnimals	-	12,500.00
	37,500.00	27,500.00
Arts and Culture
The Argylishire Gathering Trust	.	10,000.00
Birchvale Theatre	-	15,000.00
Dundee Museum ofTransport (Maryfield Train Depot)	-	50,000.00
Dunoon Burgh Hall Trust	-	10,000.00
Filmhouse (Edinburgh) Limited	-	25,000.00
Glencoe FolkMuseum	25,000.00	25,000.00
Leith Theatre Trust *	25,000.00	-
Loud n Proud	-	3,000.00
Scottish Ballet *	15,000.00	-
Spotlight Youth Theatre	-	5,000.00
	65,000.00	143,000.00
Conservation
Clyne Heritage Society	-	50,000.00
Dunblane Square Ltd (The Bank) *	25,000.00	-
Dundee Heritage Trust (DiscoveryPointdevelopment) *	25,000.00	-
Kilmaronock Old Kirk Trust *	25,000.00	-
Kippen Village Hall *	5,000.00	-
The Leighton Library Trust	-	25,000.00
Linlithgow Union Canal Society	-	5,000.00
Lochwinnoch CommunityDevelopment Trust *	25,000.00	-
Montrose CommunityTrust *	25,000.00
Scottish Historic Buildings Trust (Haining House)	-	5,000.00
St Andrews Harbour Trust *	25,000.00
The StAndrews Preservation Trust	-	20,000.00
The Water of Leith Conservation Trust *	5,000.00	-
	160,000.00	105,000.00

Page 15

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financial Statements (Cont'd)

Year to 5 April 2025 (Cont'd)

Grants and donations (cont'd)
	2025	2024
	£	£
International Aid and Welfare
British Red Cross (Ukraine)	-	12,500.00
Cecily's Fund	-	12,500.00
ZANE	-	12,500.00
	-	37,500.00
Medical Research & Support
Asthma + Lung UK (Dr Shah's study) *	5,000.00	-
Brain Research UK	.	30,000.00
British Heart Foundation	<	=
Cancer Research UK(Scotland Institute) *	20,000.00	-
Crohn's in Childhood Research Association *	10,000.00	-
Cure Parkinsons	-	50,000.00
Fight for Sight	-	30,000.00
Heart ResearchUK	.	10,000.00
Macular Society (University of Edinburgh project)	-	15,000.00
Maggies ME Research UK *	- 20,000.00	20,000.00 -
Motor Neurone Disease Association	-	10,000.00
Multiple Sclerosis Society (Universityof Edinburgh project)	-	25,000.00
Revive MS *	5,000.00	-
Spinal Research (UniversityofGlasgow study)	-	20,000.00
St Andrew's First Aid	-	20,000.00
Stroke Association (Glasgow Caledonian University study)	-	20,000.00
TB Alert *	5,000.00	-
Tenovus Scotland	-	35,000.00
Tommy's (University ofAberdeen study) *	7,500.00	-
Wellbeing ofWomen (Aberdeen endometriosis research) *	10,000.00	-
Worldwide CancerResearch (Professor Stark's project) *	10,000.00	-
	92,500.00	285,000.00
Total	850,000.001,219,000.00	__1,219,000.00_

Donation payments formally intimated but still to be made as at 5 April 2025.

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Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financlal Statements (Cont'd)

Year to § April 2025 (Cont'd)

Supportcosts
	2025	2024
Governance costs:	£	£
Administration costs	17,940.00	17,010.00
IndependentAuditor's fee	7,123.00	6,774.00
Scottish GrantMaking Trusts Group - annual subscription	262.50	200.00
	25,325.50	23,984.00

6 Trustee remuneration and benefits

The Trustees have not received any remuneration, other benefits or reimbursement of expenses during the year ended 5 April 2025 nor the year ended 5 April 2024. The Trust is controlled by the Trustees.

Fixed asset investment
	2025	2024
	£	£
Listed UK investment
5,400,000AG Barr ordinary4 1/6p shares
Market value at6 April 2024	31,590,000.00	26,865,000.00
Unrealised gain on fair value adjustment	2,916,000.00	4,725,000.00
Marketvalueat5April2025	34,506,000.00	31,590,000.00

This investment is traded on a quoted public market. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value). The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of the investors to investment risk, and changes in sentiment concerning equities and within the sectors the company operates in, particularly as the charity is reliant on the dividend yield in part to finance its work. The Trustees have managed the investment risks by retaining expert advisors and retaining an investment that is quoted on a recognised stock exchange. The charity does not make use of derivatives or other similar complex financial instruments.

Page 17

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financial Statements (Cont'd)

Year to 5 April 2025 (Cont'd)

Movement in funds	Movement in funds
		Fund bal				Gain on	Fund bal
	at05/04/2024	05/04/2024	Income	Expenditure	Transfers	Investment	at05/04/2025
		£	£	£	£	2	£
Unrestricted funds
General		137,180.43	846,118.55	(680,525.50)	(105,000.00)	-	197,773.48
Designated Fund		350,000.00	-	(195,000.00)	105,000.00	-	260,000.00
Capital
Designated Fund	31,480,000.00		~	-	-	2,916,000.00	34,396,000.00
Totalfunds	31,967,180.43		846,118.55	(875,525.50)	-	2,916,000.00	34,853,773.48
Comparatives for	movement in		funds
		Fund bal				Gain on	Fund bal
	at	05/04/2023 £	Income £	Expenditure £	Transfers £	Investment Fa	at05/04/2024 =
Unrestricted funds
General		862,078.25	723,286.18	(1,243,184.00)	(205,000.00)	-	137,180.43
Designated Fund		145,000.00	~	.	205,000.00	-	350,000.00
Capital
Designated Fund	_26,755,000.00		>	:	-	4,725,000.00	_31,480,000.00
Totalfunds	27,762,078.25		723,286.18	(1,243,184.00)	-	4,725,000.00	31,967,180.43

Designated Fund

Comprises funds earmarked for donations to be made after 5 April 2025.

During the accounting period the sum of £105,000.00 was transferred from the General Fund in recognition of the conditional award to RNLI. The following donations were made from the Designated Fund during the year; Dogs Trust (£25,000.00), Glencoe Folk Museum (£25,000.00), Perinatal Mental Health Borders (£20,000.00), RNLI (£75,000.00), Social Bite Scotland (£30,000.00), Visibility Scotland (£10,000.00), and Wiston Lodge (£10,000.00).

At 5 April 2025, £260,000.00 was held in the Designated Fund available for making donations.

Capital Designated Fund

The Capital Designated Fund represents the fair value of the investments which is not readily available to spend.

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Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

Notes to the Financial Statements (Cont'd)

Year to 5 April 2025 (Cont'd)

9 Earmarked Funds

The Trustees have total earmarked funds (subject to projects proceeding) as at 5 April 2025 amounting to £260,000.00. The Trustees have attached conditions to the grant offers, which will only become commitments when the conditions are satisfied. These are as follows:

Charlie's House	£	50,000.00
Isle ofGigha Heritage Trust (MUGA Project)		10,000.00
The John Rae Society (Hall of Clestrain)		25,000.00
RNLI		175,000.00
	£	260,000.00

10 Related Party Disclosures

There were no related party transactions for the year ended 5 April 2025.

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Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

Robert Barr's Charitable Trust

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ROBERT BARR'S CHARITABLE TRUST

Opinion

We have audited the financial statements of Robert Barr’s Charitable Trust (the ‘charity’) for the year ended 5 April 2025 which comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charity's affairs as at 5 April 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report and financial statements, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ROBERT BARR'S CHARITABLE TRUST

Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charity Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the financial statements; or
proper accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures response to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing the risks or material misstatements in respect of irregularities, including fraud and noncompliance with laws and regulations we considered the following;

The nature of the charity, the environment in which it operates, and the control procedures implemented by management and the trustees; and
- Our enquiries of management and trustees about their identification and assessment of the risks of irregularities.

Based on our understanding of the charity and the sector we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to;

. Regulations and legislation pertinent to the charity's operations.

Page 21

Docusign Envelope ID: 528888DA-507F-44BB-8A2C-A9D377DEB8AF

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ROBERT BARR'S CHARITABLE TRUST

We considered the extent to which non-compliance might have a material impact on the financial statements. We also considered those laws and regulations which have a direct impact on the preparation of the financial statements, such as the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006. We evaluated management and trustees’ incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls), and determined that the principal risks were related to;

Posting inappropriate journal entries.

Audit response to the risks identified;

Our procedures to respond to the risks identified included the following;

Gaining an understanding of the legal and regulatory framework applicable to the charity and the sector in which it operates;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
Enquiring of management concerning actual and potential litigation and claims;
Reading minutes of meetings of those charged with governance;
In addressing the risk of fraud as a result of management override of controls, testing the appropriateness of journal entries and other adjustments; evaluating rationale of any significant transactions that are unusual or outside the normal course of business;
Review of journals included but was not limited to the following areas: * Income; * Expenditure; * Creditors; * Investments.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: https:/)www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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Wbg (Audit) Limited 168 Bath Street
Statutory Auditor Glasgow
G2 4TP
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Date; November2025

Wbg (Audit) Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Page 22

1 West Regent Street Glasgow G2 1RW DX:GW409 Glasgow T +44 (0)141 566 9900 F +44 (0)141 565 1222

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