jamesmilne CHAA TERED ACCOUNTANTS Mary Morrison Cox Trust Scottlsh charity number SC007881 Trustees, Report and Accounts for the year ended 31$t October 2024
Mary Morrison Cox Trust Scottlsh charity number SC007881 Trustees and Profes51onal Advisers Trustees: Administrators and Solicitors A.C. Mofrison & Richards LLP 18 Bon Accord Crescent Aberdeen AB116XY Accountants", Investment managers: Brewin Dolphin 23 Rubislaw Terrace Aberdeen AB10 1XE
Mary Morrison Cox Trust Scottish charlty number SC007881 Trustees, Report for the year ended 31$t October 2024 Principal office The fru51 is administered by A.C. Morrison & Richards LLP, 18 Bon Ac¢ord Crescent. Akerdeen, AB116XY. Structure, govom•nc¢ and management Governing document The Charity is governed by the Trust Distn'bulion and Settlement of Miss Lilian Oswald Cox dated 181 June 1978 which wa5 registered in the Sherriff Court Book$ ofAtsrdeen on 10th October 1978. Trustees, inductlon and trainlng The Iruslees are kept up to date on ongolng developments in the Chantsble sector by A.C. Morrison & RhardS LLP and are aware of their responsibilities as trustees re OSCR and the 2005 Charities and Trustee Investment (Scolland) A¢1. New Iruslees are appointed by the existing body of trustees if they are suitable, bearing in mind the purpose of the Trust and the Trusl assets. Objectives The ¢apital of the deceased's estate has been retained and the income dlstrib(Jted by the Trustees annually to women and children in need in the Parish of Dyce, Aberdeen. The Trustees have sole discreb'on at all times as to the eligibility of the said women and children for a dislribullon from the Trust. The Trust does not organise aclivilies, projects or programmes. As explained the Trustees select eli9ible women and children to re¢eive grants from the Trust. Achl8vements. perfomiance and flnancial rgvlèw Income, all cf which is unrestricted, amounted lo £12,071. Grants of £4,500 were made to applicants. After taking allowance for administration ¢osls and movements on investmen15 there was a nel surplus of £16,532. At the year end total funds amounted to £36,389 in Revenue and £525,554 in Permanent Endowment (Capital). Reserves policy The Trustees do not have a formal reserves policy. As only the income of the Trust is distributed the Trustees aim lo maintain reseeS which are suffi'cient lo meet the Trusts charitable purposes. On bebalf of the TnslÈes
Mary Morrison Cox Trust S¢ottlsh charlty number SC007881 Report by the Independent Examiner I report on the a¢¢ounts of the Trust for the year ended 31 st October 2024 which are sel out on pages 4 10 6. Respectlve responsibilities of tn15tees and examiner The trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment IScoll8ndl Act 2005 and the Charities Accounts Iscodandl Regulatsons 2006 la5 amended}. Tho trustees consider that thè audit requiremenl of Regulation 10{1 I Id) of the 2006 Accounts Regulations doe5 not apply. It is my responsibility to examine the accouits as requId under Sectson 44{11 {cl of the A¢1 and to stale whether particular matters have come to my attention. Bas15 of Independent examlngr's statoment My examination Is carried out in accordance with Regulallon 11 of Ihe 20D6 Accounts Regulations. An examination includes a review of the accounting records kept by the Twsl and a comparlson of the accounts presented with those records. 11 also includes consideralton of any unusual items or disc105ures in the accounts and seeks explanations from the trustees conGeming any such matters, The procedures undertaken do not provide all the evidence that would be required in an audit and conseqLEnlly I do not express an audit opinion on the view g1ven by the accounts. Independent exarnlner's statemont In the course of my examination, no matters have come lo my attention which give me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with Section 44111{al 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 Regulab'on 9 of the 2006 Accounts Regulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enoble a proper understanding of the ac¢ounts to be reached. Partner James Milne Chartered Accountsnls 5 Bon Accord Square Aberdeen A8116XZ
Mary Morrison Cox Trust Scottlsh charlty number SC007881 Re¢elpts and Payments Account for the year onded 31st October 2024 Pemianent Revenue Endowment (Unrestrlcted) (Capital) 2024 Total 2023 Total Receipts Income from investments Dividends and interest 12,071 12,071 11,359 Receipts from asset and Investment sales Proceeds from sale of investments Total recolpts 115,130 115,130 89.200 12,077 115,130 127.201 100,559 Payments Investment management costs 4,831 4.831 4.614 Grants 4,500 4,500 Total costs of charitable activities 4,000 4,500 4,500 4,000 Legal fees Accountancy fees Total govemance costs 3,240 1,464 3,240 1,464 3,240 800 4,704 4.704 4,040 Purchase of investments 96,634 96,634 85,7S9 Total payments Net recelptsl{payments) Transfers Ilo)lfrom funds SurplusllDgfl¢itl for the year 9,204 101.465 110,669 98,423 2.867 13,665 16,532 2,136 2,867 13,6SS 16,532 2,136 The notes on page 6 form an integral part of these financial statements.
Mary Morrison Cox Trust Scothsh charity number SC007881 ststement of Balan¢¢$ at 31st October 2024 Pemanent Revenue Endov4ment 2024 IUnre$trlctedl (Capknll Total 2023 Total Bank and cash balancos Opening balance SurplusllDelicitl for the year 37,623 2,867 16,617 13,665 54,240 16,532 52.104 2,136 Closing balanc8 Whereot. Bank and cash in hand In hands of brokers In hands of legal agents 40,490 30,282 70,772 54,240 37,051 449 2,990 37,051 30,731 2.990 36,919 17,309 12 30,282 40,490 30,282 70,772 54,240 2024 2023 Investments at marffet valu Listed stocks and securitses 493,662 446,067 other asset$ Dividends receNable and accrued Inte31 2,069 430 Llabllftles Legal fees Accountancy fees 3,240 1.320 3,240 1,320 4,560 4,560 Reserves Revenue Fund (Unrestricted) Expendable Endowment Fund Icaprtall 36,389 525,554 33,493 462.684 561,943 496,177 Approved by the Trustee5 on io171zg and signed on their behalf by TrJslee The notes on page 6 form an integral part of these accounts.
Mary Morrison Cox Trust Scottish charity number SC007881 Notes to the AGGounts for the ygar ended 31st October 2024 Accounting policie8 1.1 The accounts are prepared on a ceIpts and payments basis as allowed by the OffiGe of the Scottish Charily Regulator. 1.2 Fund accountlng Unrestricted fvnds are Ih05e that may be used at the discretion oflhe trustees in fvsrtherance of the obiecis of the charity. The permanent endowment fund represents the rapital invested which is retained and generates incCe for the Trust. 2. Rolated paty transactlons, trustee expenses and remuneratlon The trustees all give freely of their lime and expertise without any form of remuneration or other benefit in cash or kn'nd12023 -£nill. No expenses were paid lo the trustees during the year12023 - £nill. Iruslees, are members of A.C. Morrison & Richards LLP. During the year the administrallon seNices provided by A.C. Morrison & Richards LLP, rus pai Dr ega an 3. Invo8tmonts at markol value 2024 2023 At 1st NovembeT 2023 Additions at cost Disposals Gain on disposallvaluation 446.067 .634 1115,1301 66,091 446,160 85,769 189,2001 3,338 Al 31st October 2024 493,662 446.067 Note.. Cost of investrments 380,623 385,313