Charlty rngl$tratlon number SC008586 (Scotland) THE COLUMBA TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024
THE COLUMBA TRUST LEGAL AND ADMINISTRATNE INFORMATION Se¢retsry John¥lon Sm411ie Ltd Charfty number Iscottandl SC(X]8586 Prlncipll addr•s* clo Johnston Smilliè Lld S South Gyle cscent Lan Edlnburgh EH12 9EG Independènt examiner Gibson McKeryell Burrows Limited Charferetl Accounlants 28 RutlatFd Square Edinburgh EH12BW Investment advisors Adam & Company 40 Princes Slieet Edinbkjigh EH2 2BY
THE COLUMBA TRUST CONTENTS Pagè Trustees. report Statement of Tru5tees' responsjbilllies Independent examrfierfs r?rt Slalemgnl Df finarkcial activili8s Balance sheet Notes lo the finanual ststemenls 7-15
THE COLUMBA TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2024 Thg Trustees piesent thdr amual report and finanoal 3lalemenis lor the year ended 30 November 2024. The f nanryal slatements havg been prepared in accordance with the arGounlin9 pol¢e8 $01 oui in note 1 to Ihe financial staternenls and Gornpty wrth Iht charills wnslilu1n. the Charify'es and Trustee l$trnent Iscotlandl Act 2005, the Charit5 Accounts Iscouandl Regulations 2006 las amended) and "Accounting and R8poriin9 by Charities. Statement of RBcommended Prartice appliiable lo charities preparfng IheiT accounls in 3ccordan¢e wilh Ihe Financial Reporting Standard appIlble in the UK and Republic of Ireland IFRS 102)° la5 amended lor accounling periods comrnenong from 1 January 20191 The Colvmba Tru8t was 9Stablished in terms of a deed of dedaralion of Tfusi by Lord Colum Edmund Crthton- Stuart dated 28 February 1949 and regislerÉ(18 Novembei 1949. Objective¥ and activiti98 The ¢harity s princ4pal Obj i8.. Te suppwt ol Roman calho1$ in thè Pfactlce of their faith. in parti¢ular, providing finanaal assisla)ee lor this purpose as permittFd by Scots L9W'. The Trust's other pwposgs indL¥Je the a(fvan¢om&nt of •ducaiiM and the relief of poverty. Lord Crid)lon-Sluart had a particar C4Mcem for the m8inlenan¢e of Chris)"an marriage, the support ol single molhefs an(J IheTrr ¢hildren and the spiritual support of prisonefs and so application5 from organi531iofis worknng in these areas are wetome. Thtr TsleeS ale also keen lo receNe applications from Ofganisations w.¢ promote the Rornar Catholi¢ laitli, its ministry and its valu&s, and those vA)i¢h foster a bettei understBnding of the faith among yovng people and encourage Iheir involvelnenl in dTrarktable aclmties. Thè Trustees make grants from the Columb8 Fund lo bolh exleftial apiCatIonS and also lo projecls suggeBled by individual Twstees. PrftsTlty is given lo projecls that direclty meet Ihe uiteria lad oul in the 098d and Letter ol Dife¢tion$. Thg residue of the Estaie ofaS bequeathed (D the Tiiisl 1972 to be applied foT the ontinuatn and benefil of the pre-1878 qc.Dttish Catholic Archives. uest, logether with the bequest of whieh viae ifted In 1982. form the TFUSt's rfrstricted fuxds whlch are applied in accordance with Irt¢ v¢ishe5 of A¢hievements and p¢rfomiancè The Trustees aim lo protect and ¢nhanee the cap]lal value ol the Trust's 88$9ts in real tsrmts and to distribute the Irne in grants. Where insuffiGieni good causes are idenlifted in any year, Ihe surplus income will be dsbUrS>j in the lolowlng year. In the ypai under rèvi8w the Trustee5 met in October and disbursed income nSeqUent to successful giant applicanls as shown ID the financial stalemenls. A significant proiert for the Trusl in 2024 was the launch of its website. For some tsme the Trustees had been ¢tsn(med lo ensure tr)al existence of th@ Trust was made as widely known as possible. The websile went live 4 March 2024. In Ihtr year lo 30 No¥ernte¥ 2024. there were 1,033 visffors to the website. The Tiustees believe that this iniliali¥e was the primary reason for Ihe la¥geT than sual number ol g¥anl applications in the fin8n¢ial year. The existence ol the Twsl was also publici5ed on tho $oc481 media channels of the two Aichdioceses in Scolland. The Trusiee$ will conlinuÈ to consider ways ol further publi¢isirvJ the existersctr of Ihe Trust as widely as possible. Financial review During the period. amwnts pre¥iously accrued as (lonab'on5 In T?$¢t of the surplus on ihe Fathef Anderson Bequest have been tsken lo thè Statament ol Flnanclal Ath'vities a5 (Xher income, as £%alned in nole 4 to the f nanopl Slalements. The chafity doe$ not have a signfficanl lovel of committed expendituré, thèrOre the Trustee5 not wiisidei il necessary lo hold a signifThnt lèvél of rèserves in exce55 of IhBI required to secijre the charily's ability to operate in accordance with 115 chaiilable objecti¥e6 ftsr the I0Seeable future. R&$eThes consist principalty of investments, the income from whKh funds Ihe tharity's granl-giving activrties.
THE COLUMBA TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Inv8skn•nt poll¢y ond porfominc• The inve51ed funils of both the Columba Trust and the Fr Arvjerson Bequest are manAge(I by Adam & Company Weatth manage1 (part ol the Canaccord Genurty Group) on a di$etI0nary basi5 and in ar£ordan¢e Mth the Statement of Invostment Pnnciples ol eath trust. The obi"eclive of the managers 1$ lo optimLSe income and cApilal growth with an appropriate degree of risk-taking. Perfomi4nc8 is m8asurgLt against a pre-deterrnined benchmark. The Trnslees recewe quarterly wports frorn Adam & Company and n1 with ts tepresentatbves at lèast one• a year and a$ carcumst8ni$ reqvKe. In 2024. the invested portfolto of the Columba Trnst achi¥vg0 a posib.ve ieturn cf 9.6V/o Ic¥lend8t year 20241. Thal of the Father Anderson Bequest retumed 9.4%. The investment iesull was an improvem1 on the reium$ rgPOrteLt in 2023. Both portfolKJs exceeded the benchmark IUK RPl+3%1. which Showed an m)easE of 8.7%. The Trustees contIn to (gosely mMilor the performance ofthe inveslmant managers. Plans forfuture perlod$ The ch8thly plans lo continue with ils main objectv8s, and th8 Strategy continues lo be Ihat outlined above. Slrnctre, governance and manogement The Deed of Decjaration of Trust nominated the firsl Truslg&s. Thereafter the Tstee$ rnay, al their dlscrellon, assume al any lime new Trustees lo act along vilh them. or the 8urvivoi8 of them, In the new Trusl. New TFuslees ore invtrt8d lo join from tim& lo linw," tho &Sta[¥ Trusiees select the persons Ihey inthle on the b8s of per1V sknlls required by Ihe board an(1 held by the candidaie. Candidates are given eoplos of th& Tiusl deed. letter ol directions and the Anderson Beque51 deed as well a5 a fvll briefing on the granl making policy of the ttee5. Truslees are asked to gwe six months, noh"ttÈ olh&r intentn lo re$tun. The Trustees give their services graluitously. Thè Trust is adminislei•d by Jotw)ston Smil@ Ltd, 5 South Gyle Crescent Lane, Edinburgh, EH12 9EG. lo who applications should b8 made. Thc Truslces who servèd during the year and up lo Ihe dale of $ignature ol the financial statemenls were: (Re%94 18 February 2025) The Trustees COnd&f the board of Twslo•s to bg th¥ koy man898manl personnel of Ihe charity in diorge of diiecting Ihe aff8lTS ol the charity. All Truslees give their time freely #nd no Trustee rèmuneroti0Tr was paid in the year. D¢lai1s of any Truslee expenses related party tran5aGtiDns are d15closed In rKbte 8 to the accoun1$. The Se¢retar*s and T&sUrers, Johnston Smlllie Ltd operate under a deleg81ed power of aulhonty and ale responslbk for the day to day runnin9 01 thè charity. Th6 Secretsries and Tr&asurers attend Board meetiros and Communile with the Twslees between meelws a$ required. Secrel8ries and TreasureTS Fees are considerèd by the Tvuslees 8nd agoed In advance. The Truslee5' report W85 appTo¥ed by the BoaFd of Tfustees. 20 May 2025
THE COLUMBA TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2024 The Trustees are respunsible for preparing the Trustee5' Report and the financial slalemenl8 in ac¢ord3nc8 with applicable law and United Kingdom Accounting Standard5 Iunrted Kingdom Generally Aecepled Accounting Pra¢ticel. The law applicable to charitie5 in Scoland qUireS the Trustees to prepare finani>31 statements for each financial year whi¢h give a true and fair view of the slate of affairs of the ¢harity and of the incoming resources and application ol resoufce$ of Ihe charity for that ye8r. In preparing these finanryal stalemenls, the Trustees are required to.. selecl surtable accoLtnling policies and then appty them consistently., observe the methods and piin¢iples in the Charities SORP., mak¢ judgements and estimates that are reasonable and prudent.. Slate whether applicable accounling sl8ndBrds have been followed, subje¢t lo any material departures disclosed and explained in the financial statemen15'. and preparè the financial statements on the going ¢oncem basis unless il is inappropriate Io PTesume that the Charity will continue in operation. The Trustees are responsible for keeping sufficient accounting focords thal disd05e wrth rèasonable accuracy at any lime the financial posrtion of the charrty and enable them lo ensu that the financi81 statements comply wilh the Charities and Trustee Ir*vestment (Scotlandl Act 2005, the Cha¥ih'es Accounts (Scotlandl Regulations 2006 and the provisions of the tru51 deed They are also responsible for 5afegvarding the assets ol the tharity and hence for taking reasonable sleps foi the prevention and detection of fraud #nd othèr irregularitie5.
THE COLUMBA TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE COLUMBA TRUST I repcft on the financlal $tstemo1118 tsl the ¢harity foi the ded 30 November 2024, which are 881 out on pages 5 to 15. R•$pective reBponslblllllgs ol Tru$ts•$ and examln•r The carily's Trustèes are responsib for the prep8r8tion o the finan statements in alxordance wrth Ihe terms ol the Ch¥ritses and Trusteè Invo$tmenls (slIand Act 21J)5 and the Charib'es Accounts (Scotlandl Regvlations 20C6. The eharty's Tw$lee$ ¢er that the audit requwement of Regulation 10111{al lo IGI ol the 2006 AOnIS Regulations doe5 not apply. It is my responsibility to ttxamtno the financ4al statemenls a5 fEquwd under seGton 44(11{cl of theAct nd10 Slate whelher particular m8tt&r5 have come ID my attention. B#&i of independent examin¢r'¥ ¥lat•mnt My examinalion is Garried out in accordance with Regulation 1101 the Charities Accounts (Scoland) Regulatlons 2006. An exammatitin indudes a ree of the 8C(x)unling ts)rds kept by the Charty and a comparisoft of th6 n8al 51alements presented with those records. It includes consideration of any unusual items or disclosures in the finanrial slatamants. and seeking explanatioiis from the trustees concéming any suth mallers. The procedure$ undwtaken do not ptovide all the evidence that would be requ1 In an audii and consequently I do not express 8n audit opinion on the view given by the finanoal statemenls. dependent exominerfs ststement In co[Ec110 wrth rny exarninalion. no matter has cLme to my attention.. la) which gtrvès mè roasonable cause lo belFeve that in any materi31 respèct the r8quirement8.' to keep accounllng recofds in Srd wilh sèction 44111181 of the 2ChJ5 Act and Regul81io14 of the 2006 Ac4))unls RUlatn$., ond lil) to piepare finanual slatements which 8¢(x)rtt the accountin9 record$ and comp wrth Regylalion 8 ofih& 20Cfj A¢xourrts Regvlalion5'. have not been met or Ib) lo which, in my opinion. aitentKJn shoLAd b8 drawn in order to enabk a prop&r und•rsl8ndir¥J of the financdal $18lements lo be aChed. Gibson McKeifell Buriows Limited Chartered AcUntants 28 Rutland Square Edinbuigh EH1 2BW Relevanl Profes510nal Body: The Inst6tutè of Chartered A¢UnntS ol Scotland
THE COLUMBA TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2024 Unrestri¢tsd Rostrlcted lunds funds 2024 2024 Totsl UnTestri¢tsd Rèstrletsd fuDd$ funds 2023 2023 Total 2024 2023 Notes In¢om¢ and endovlments from; Inveslments Other income 50.341 16,430 72,521 66.771 72,521 44,739 13,678 58,417 Total income 50,341 88,951 139,292 44.739 13.878 58.417 Expendlture on: Raising fjjnds Charitable 8Ctivilies 10,671 101.113 3,189 4.543 13.860 105.656 9,839 37,932 12,783 48,666 10,734 Total expendrture 111.784 7.732 119.516 47,771 13,678 61,449 Net gainslllos5esl on inveslments 10 241,533 69,795 311,328 (30,6921 17,7711 138.4631 Net 1n¢om•llèxnd1lurPj and movement ifi funds 180.090 151.014 331,104 133,7241 (1.7711 141.495} R•¢onciliation of fvnd$: Fund bglan¢es at 1 December 2023 2,088.257 568,634 2.656.891 2,121,981 576,405 2,698,386 Fund balances at 30 November 2024 2,268.347 719,648 2,987,995 2.088,257 568,634 2,656,891 The siatemenl of financial art*vities indudes all gains and losses recogni5ed in the year. All income and expendituro derive from continuing activities.
THE COLUMBA TRUST BALANCE SHEET ASAT30 NOVEMBER 2024 2024 2023 Noles Flxèd assets T$ng assets Investments 12 13 145 2,573,958 171 2.27S,708 2,574,103 2,275,879 Currvnt asBets Cash al bank and u) hand 416,352 457,743 Crodilor¥.' #mounts fallthg du• wlthln one year 14 4,460 76.731 Nel cJrr&nl 89s01$ 413.892 381,012 Total ass•ts 5S curr•nt11obllltl¢s 2,987,995 2.656.891 The funds of the ¢h•rlty Réslricted funds UnrèstrKled klnds Is 719,648 2.268,347 588,634 2,088,257 2.987,995 2.656.891 The finanual stateMets We 8pproved by the Tluslees on 20 May 2025
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Accounting poll¢ies Charlty infoffnation The Columba Trust is an unincorporated charity in Scotland. The addres5 ol the principal office is elo Johnston Smillie Ltd., Charterèd Accountants, 5 South Gylè Crescent Lane, Edinburgh, EH12 9EG. 1.1 Accountlng convention The financial statèmènts have been prepared in a¢¢ord8nce with the chariws constitution. the ChaT4ties and Trustee Investment ISrolland} Act 2005. the Charities A¢¢ounts (Scollandl Regulations 2006 (as amended). the Financial Reporting Slandar(J applicable in the UK and Republic of Iland IFRS 1021 and'Accounling and Reporiing by Charities.. Sl*emenl of Recommended Practice applicable to charities preparing their accounts in a¢¢ordance with the Finan¢i81 Reporting Standard applicable in the UK and Republ¢ of Ireland IFRS 1021" las amended for accounting periods commoncing from 1 January 20191. The charily is a Public 8enofil Entity 8$ defined by FRS 102. The ¢h8rrty has taken advantage of the provisions in the SORP for small charities not to prepafe a Stslemenl of Cash Flows. The financial statements are Prepared in sterling. which is the lunctional curreney ol the charsty. Monetary amounts in these finanri31 statements are rounded lo the n¢aresl £. The financial slatements have been prepared undef the historical cost convention. modified lo indude listed investmènts at lair value. The prlncipal aitounting policies adopted are set out below. 1.2 Golny concern At the tirne of approving the finanaal slatements, the Tfuslees have a reasonable expgclalion that the charity has adequate resources to Continue in operatiorlal eKislen¢e for the foreseeable fvlure The charity holds substantial funds in investment portfolios and bank accounts. and has a low level of financial commitmenls. thus the Trustees continue lo adopt the going concern basis ol accounting in pparing the financial stslemenls. 1.3 Charitsble funds Unrestricted funds are aVailae for use at the discretion of the Trustees in furtherance of their charitable objectives. Reslricled funds are subject to specific conllilions by donors or grantors as lo how they may bè used. The purposes and uses of the restricted funds #re set oth in the note5 to the financial slalements. 1.4 In¢om• Income is recognised when the tharity is legally entilled lo il after any perfomiance condilign$ have been met, the amounts can be measured rgliably, and il is probable Ihal income will be received Cash donations are recognised on receipt. Othei donations are recognised once the charity has been notified of the donation. unless ptrrformance conditions reqviie deferral ol the arnounl. Income lax recoverable in relalion lo donation8 re¢¢ived under Gfft Aid or deeds of covenant is iecognised at Ihe time of tho donation. Legae$ are recognised on receipt or otherwse if the chartty has been nolthed ol an impending distribution, the amovnl is known. and feceipt is expectecl_ If the amounl is not known. the legacy is treated as a contingent asset. Interest on funds held on deposit is included upon nolificalion of the interest paid or payable by the Bank. Dividends are recognised once the dividend has been dedared and nDtification has been recoiv$d ol the (Jividend due. This is normally upon nolifi¢ation by our investment advisor of the diwdend yield of the investment portfolio.
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 30 NOVEMBER 2024 Ac¢ountlng pollcie5 IContInlI 1.5 Expenditurn Llabililies are recognised as expenditure as soon as there is a legal or constructive obligation committin9 Ihe charity to that expenditure, it is probable that setttemenl will be required and the amount ol obligJlion can be measured reliably. All expenditure is èc¢ovnled for on an arLruals basis. All expenses, induding support costs and gov8mat7¢e costs 8r8 allocated or apportioned lo Ihe appli¢able expenditure headings in the stalernenl of financial activities. Irrecoverable VAT is charged against the expendi(ure heading for whi¢h il was incurred. Cost of raising funds (xJmpri5e the cos15 incurred by the invastmènt managers for managing the investment assets. Charitable expendrture comprises costs in¢urred by the charity in Ihe delivery of ils seryices ant8 8Ctivfties and grant5 made once an unconditional commitment lo pay the grant is made to the recipient or the grant is paid, whichever is earfier. Charitable actiwtiés indudes expendilure on grants made, governan 8nd 8UPPOrt costs. Govemance costs include costs ass0¢ated with rneeting ihe constitutional and statutory requirements of the ¢harity and include independent examination fees and costs linked lo the slrale9ic management of the charity. 1.6 Tanglble fixed assets Tangible fixed assets are inttialty measured al cost and subsequently measured al ¢osl or valuation, net of depreciation and any impaimenl losses. Depreoation is recognised so as lo write off the cost or valuation of assets less th¢ir residual values over the useful lives on thg following bases-. Fixtures and frtlings 15°A reducing balancè The gain or loss arising on the disposal of an asset is determined as the differencg between the sale pro¢e¢d8 and the c8rrying value of the asset, and is reco9ni8ed in the statement ol financial actwilies. 1.7 Flxed 0$8et Invostments Fixed asset investmenls are initially measvrod al transaction price excluding transaction costs, and are subsequently measured at fair valuè 81 e8¢h reporting dale. Changes fair value are re¢ognised in nel incomgllexpgndrturgl for the year. Transact costs are expensed as incurred. 1.8 Impairniènt of fix•d assèts Al each reporting end dale, the ¢hatrty reviews the carrying arnounts ol rts tangible assets to detemiine whether there is any indication that those a&sels have Suffered an impairmenl loss. If any such indication exists, the Tecoverable amount of the assel is estimated in order to detèrmine the extent of the impaim)enl loss Irf any}. 1.9 Cash and cash equlval¢nts Cash and cash equivalents include cash in hand, ¢Jeposils held at call wlh banks, other short-terrn liquid investments with original malufities ol three tnoTilhs or less, and bank overdrafts. Bank overdraft5 are shown within borrowings in ¢urrenl Iiabilth"es.
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 A¢¢ounlng policios Icontlnuedl Basic fin•n¢l•l assets Basic finanaal a55ets. which include debtors and cash b8nk balances, are initially measufed al Iransa¢tion price including Iransaotion costs and a subsequently carried al amortised cost using the effective interest method unles5 the ariangement con51itules a financAng Iian53¢1ion, where the Ir8nsaetion is measured al the present value of the lutUTe receipts discount8d at a market rale ol interest. Financial assets dassified as receivable within one year are not amortised. Basie financial Ilabilities Basic ffinan¢i81 liabilities. including ¢dItorS and bank loans are initially Tecognised at transaction price unless the arrangemènt constrtules a fin8ncin9 transaction. where the debt instfumenl Is measured al the prBsent value of the fuluip payments dIOunted at a market rale of interest. Financial liabilities dassified a5 payable within one yeai are not amortised. D¢bl instruments are subsequently carried at amortised cost. using the effective inleresl rale method. Trade credbtors are obligations lo pay for gooijs or services that have been acquired I the ordinary course of operations from suppliers Amounts payable 8re dassfied as curTenl liabilrties if payment is due within one year or less. If not, they are presented as non-cuttent liabilities. Trade Creditors are recognised initially at ir8nsactlon price and Subsequent measured al amortisgd cost using ihe effedive interest methud. Derecognition of Ilnanclal liabllftles Financial liabilities are derecognised when the chadty's conlractual obligations expire or are discharged 01 eancelled. Crltical accountlng estSmate$ and Judggm•nts In the application of the chartty's accounting policies, the Trustees are qUIred lo make judgements, ¢slimates and assumptions about the carrying amount ol assets and liabilities that #re not readily apparent from other SoUrs. The estimates and a550¢ialed assumptions are based on historical experience and other fa¢tors that are con5idefed lo be relevant. Aclu81 results may diffe¥ frotn these estimates. The estimates and undertying assumptions are reviewed on an tsngoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised wheig the revision affects tynly that period. or in the pèriod of the revision and fuluTe periods where the revision affe¢ls both CUTreN and future periods. Income from inveslJn¢nts Unrgstrlcted Re¥trirtsd fund$ funds 2024 2024 Totsl Unr•strlctsd Restri¢t¢d fund$ funds 2023 2023 Total 2024 2023 Inme from lislgd investment Intest recetvable 44,530 5,811 14,977 1,453 59,507 7,264 39.674 5,065 12,412 1,266 52,086 6,331 50,341 16,430 e6.771 44.739 13,678 58,417
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Other incom• Restricted funds 2024 Rutrkted fvnd¥ 2023 Other income 72,521 In the opinion tsf the Tiustees, it is no longer appropriate for Ihe annual surplus on Ihe Father Anderson Bequest lo be aCCTued as a donalion, as there is not a specrfic beneffi¢i#ry of the surplus nor a Splfied timescale within which il is to be paid ovei. Amounts previously arUed as ¢harilable donations fiom the FalherAnderson Bequest, to1811ing £72,521. have been taken to the Ststement of Finanoal Activities as Other income in the c#Jrront yèar. See also note 14. Ral$lng funds Unr•$tri¢tsd Restrl¢tsd fvnds fund8 genernl 2024 Total Unrestricted funds general 2023 Restricted ftsnds Total 2024 2024 2023 2023 Investment management 10.671 3,189 13,860 9.839 2.944 12,783 10,671 3,189 13,860 9.839 12,783 10-
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Charitabl a¢fjvltles Charbtsble Ch•ritsble activities ¢vItIeS 2024 2023 Depwalion and impairment Charitable donations Share of 5ecretafies fees Insurance Website Storage Travel 26 90,950 4,500 317 1,534 1,657 22 30 38.633 3,760 292 99,008 42,715 Share of govemance costs (see nole 7} 6,650 5,951 105,656 48,866 Analysi5 by fund Unrestricted funds- general Reslricled funds 101,113 4,543 37,932 10,734 105,656 48,686 Grants lo inslilulions, totalling £90.950 12023.. £30,498). consisted of 14 donations {2023.' 41 made lo organisalion5 operating in the following areas.. the relief of pov&rty overseas. the promotion of heaSth and education in the UK and overseas and thè support and promotion of the Roman Catholic religion. Support costs alloc•td to activities 2024 2023 Governance costs 6,650 5,951 Anatys•d between: Charitable activilies 8.650 5,951 2024 2023 Gov*man¢e ¢08ts comprise: Share of secretaries fees Independont examiner's fee 4.500 2,150 3.761 2,190 6,650 5,951
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 30 NOVEMBER 2024 Tru8t$ None of Ihe Trustees lor any persons connected with them} received any remuneraiion or benefrts from the charty during the y8ar12023.' none}. Ckne T¥ustee receNed ieimbutsement of travel expenses arnounting lo £2212023.. none). Employeeb There We no empk)yees during the year {2023.' none). 10 Galns and10s8e¥ on inve81J))onts Unrestrfcted Rgstrf¢t funds funds 2024 2024 Total Unrnstricted R•$tricted fund$ funds 2023 2023 Totsl 2024 2023 Gainsl{lossèsJ artsing ¢)n'. Revaluation ol investments G8inllloss} on sale of investments 272,490 75,161 347,651 {30,6921 17,7711 138.4631 130.9571 15,3661 136,3231 241,533 69,795 311,328 130.692) 17,7711 138.4631 11 T•xaJon The charity is exempt from taxation on it5 adwities because all ts income is applied for charitable purposes. 12 Tangibl• fixad a$$ots Flxkntrgs and frtungs Co¥t At 1 December 2023 7.693 At 30 November 2024 7,693 Depr•clatlon and Impairnient At 1 December 2023 Depreciation charged in the year 7.522 26 AI 30 Novembef 2024 7.548 C*rying amunt AI 30 November 2024 145 At 30 November 2023 171 12-
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 13 Fixed as¥et investments Llsted Inv•$lm•nts Cash in porifolio Totsl Cost or valuation At 1 DeThmber 2023 Additions Valuation changes Disposals 2,257,496 458,667 311.328 1502,1571 18,212 30,412 2.275.708 489.079 311,328 (502,1571 At 30 November 2024 2,525.334 48.624 2,573,958 Carrying amount AI 30 November 2024 2,525.334 48.624 2,573,958 At 30 NovambeT 2023 2,257,4 18,212 2.275.708 14 crèditors: amounts falllng du8 within one 2024 2023 Other creditOTS AccTuals and deferred inc4Jme 72,521 4,210 4,460 4.460 76,731 As explained in note 4, the Trustees have agreed that (( is no lon9er appropriate to accTue amounts payable from the income ol the Father Anderson Bequest. Amounts premously a¢¢iued, lotalling £72,521. have been tsken to the Statement of Financial Activities and shown as Other income. 15 RtrIcted funds The Father Anderson Bequest fund is 8 restricied incrne lo applied in am)rdance with the wishes of Father Anderson. The net income of the Father Anderson Bequest fund is for Ihp support of the work done by Falhei Anderson in ielab.on to the Scottish Galholic Archives. Ineomlng resources Re5ourc6s expended Gains and 10550$ At30 November 2024 Dècember 2023 Fathef Anderson Bequest 568,634 88.951 17.7321 69.795 719,648 13-
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 15 Restricted lunds Icontlnuedl Prnvlou$ yoar. At1 D9¢•mr 2022 Ineomlng Re$our¢o4 re80urce$ expend•d Galns and lossès At30 Novembor 2023 Father And*50n Bequest 576.405 13,678 113,6781 17,771} $68.634 16 Unrestrlcted funds Thes¢ ale unrtrstricied fund5 which are material to thè ¢hariWs a¢tivllies made up as follows.. Incomlng rnsourc8s Resources expended Galn$ and los8&s At30 November 2024 December 2023 Columba Trust 2.088,257 50,341 1111,784} 241,533 2,268,347 Prevlous yèar: At1 D¥¢•mber 2022 In¢oming rpsourcets Resour¢•s exp8nded Galn$ and losses At30 Novombèr 2023 Columba TNSI 2,121,981 44,739 {47,771} {30,6921 2,088,257 17 Analysls of net Sets between fund$ Unrestrictsd funds 2024 Re8trict•d funds 2024 Total 2024 At 30 November 2024: Tangible assels Inveslmenls Curienl a5selsl(liabilitiesl 145 1.983.086 285,116 145 2.573,958 413.892 590,872 128,776 2.268,347 719,848 2,987,995 14-
THE COLUMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 17 Analys1$ of net assets belwgen fvnds {Contlnuedl Unrestiicted lunds 2023 Restrictsd funds 2023 Total 2023 At 30 November 2023.. Tangible as5els Investments Currenl asselsllliabililie$} 171 1,751,766 336,320 523.942 44.692 2,275.708 381,012 2,088.257 568,634 2.656,891 18 R•lat•d party tran¥a¢tions The were no disclosable r8lated party transactions during the year12023- none}. 15.