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 c￿scent 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 $01 oui in note 1 to Ihe
financial staternenls and Gornpty wrth Iht charills wnslilu1￿n. the Charify'es and Trustee l￿￿$trnent Iscotlandl Act
2005, the Charit￿5 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 appIl￿ble 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..
T*e 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 partic￿ar 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 T￿sleeS 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 ap￿iCatIonS 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 of￿aS bequeathed (D the Tiiisl 1972 to be applied foT the
ontinuat￿n 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
I￿rne in grants. Where insuffiGieni good causes are idenlifted in any year, Ihe surplus income will be d￿sbUrS>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, thèr￿Ore 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 I0￿Seeable 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 porfomi*nc•
The inve51ed funils of both the Columba Trust and the Fr Arvjerson Bequest are manAge(I by Adam & Company
Weatth manage￿￿1 (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 n￿1 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 improvem￿1 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.
Slrnct￿re, governance and manogement
The Deed of Decjaration of Trust nominated the firsl Truslg&s. Thereafter the T￿stee$ 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 b8*s of per￿1V
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 t￿￿tee5.
Truslees are asked to gwe six months, noh"ttÈ o*lh&r intent￿n 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 $ignature ol the financial statemenls were:
(Re%9￿4 18 February 2025)
The Trustees COn￿d&f the board of Twslo•s to bg th¥ koy man898manl personnel of Ihe charity in diorge of
diiecting Ihe aff8lTS ol the charity. All Truslees give their time freely #nd no Trustee rèmuneroti0Tr was paid in the
year. D¢lai1s of any Truslee expenses related party tran5aGtiDns are d15closed In rKbte 8 to the accoun1$.
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
Communi￿le 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 c*arily's Trustèes are responsib￿ for the prep8r8tion o* the finan￿￿ statements in alxordance wrth Ihe
terms ol the Ch¥ritses and Trusteè Invo$tmenls (s￿lIand￿ Act 21J)5 and the Charib'es Accounts (Scotlandl
Regvlations 20C6. The eharty's Tw$lee$ ¢￿￿￿￿er that the audit requwement of Regulation 10111{al lo IGI ol the
2006 A￿O￿nIS 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•m*nt
My examinalion is Garried out in accordance with Regulation 1101 the Charities Accounts (Scoland) Regulatlons
2006. An exammatitin indudes a re￿e￿ of the 8C(x)unling ￿ts)rds kept by the Charty and a comparisoft of th6
n8￿￿al 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 cL*me to my attention..
la) which gtrvès mè roasonable cause lo belFeve that in any materi31 respèct the r8quirement8.'
to keep accounllng recofds in S￿rd￿ wilh sèction 44111181 of the 2ChJ5 Act and Regul81io14 of
the 2006 Ac4))unls R￿Ulat￿n$., ond
lil) to piepare finanual slatements which 8¢(x)rtt the accountin9 record$ 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 Ac￿Untants
28 Rutland Square
Edinbuigh
EH1 2BW
Relevanl Profes510nal Body: The Inst6tutè of Chartered A¢￿Un￿ntS 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•llèx￿nd1lurPj 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 stateMe￿ts 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 I￿land 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 p￿paring the financial
stslemenls.
1.3 Charitsble funds
Unrestricted funds are aVaila￿e 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.
Lega￿e$ 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
IContIn￿lI
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 dI￿Ounted 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 SoUr￿s. 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
In￿me from lislgd
investment
Inte￿st 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 Sp￿lfied
timescale within which il is to be paid ovei. Amounts previously a￿rUed 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•t*d 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•$lm•nts
Cash in
porifolio
Totsl
Cost or valuation
At 1 DeThmber 2023
Additions
Valuation changes
Disposals
2,257,496
458,667
311.328
1502,1571
18,212
30,412
2.275.708
489.079
311,328
(502,1571
At 30 November 2024
2,525.334
48.624
2,573,958
Carrying amount
AI 30 November 2024
2,525.334
48.624
2,573,958
At 30 NovambeT 2023
2,257,4
18,212
2.275.708
14 crèditors: amounts falllng du8 within one
2024
2023
Other creditOTS
AccTuals and deferred inc4Jme
72,521
4,210
4,460
4.460
76,731
As explained in note 4, the Trustees have agreed that (( is no lon9er appropriate to accTue amounts payable
from the income ol the Father Anderson Bequest. Amounts premously a¢¢iued, lotalling £72,521. have been
tsken to the Statement of Financial Activities and shown as Other income.
15 R￿trIcted funds
The Father Anderson Bequest fund is 8 restricied inc￿rne lo ￿ applied in am)rdance with the wishes of
Father Anderson. The net income of the Father Anderson Bequest fund is for Ihp support of the work done by
Falhei Anderson in ielab.on to the Scottish Galholic Archives.
Ineomlng
resources
Re5ourc6s
expended
Gains and
10550$
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¢•m￿r
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.