THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
TRUSTEES REPORT AND FINANCIAL STATEMENTS
30 JUNE 2025
Charity Number SC008757
THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
TRUSTEES REPORT AND FINANCIAL STATEMENTS
YEAR ENDING 30 JUNE 2025
| CONTENTS | PAGES |
|---|---|
| Members of the Board and professional advisers | 1 |
| Trustees Annual Report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the financial statements | 9 - 13 |
THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS 2024/25
The Rotary Club of Edinburgh Jubilee Charity Fund
Registered charity name The Rotary Club of Edinburgh Jubilee Charity Fund SC008757 Trustees Club President Club Treasurer Appointed 1 July 2024 Appointed 1 July 2024 Appointed 1 July 2024 Resigned 30 June 2024 Resigned 30 June 2024 Business address Independent examiner Bankers The Royal Bank of Scotland plc 36 St Andrew Square Edinburgh EH2 2YB
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
TRUSTEES ANNUAL REPORT
YEAR ENDING 30 JUNE 2025
The trustees present their report and the independently examined financial statements of the Charity for the year ended 30 June 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of members of the board and professional advisors on page 1 of the financial statements.
THE TRUSTEES
The trustees who served the charity during the year and to date were as follows:-
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Ex-officio (Appointed 1 July 2025) Ex-officio (Appointed 1 July 2024)
(Resigned 30 June 2025)
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Rotary Club of Edinburgh Jubilee Charity Fund was established by trust deed dated 1961, amended 19 September 2002, 6 March 2008, 26 June 2014, 16 June 2016 and 11th May 2023. The management of the fund is the responsibility of the Trustees who are elected under the terms of the trust deed.
The Trust is a charity and was originally recognised as such by the Inland Revenue for taxation purposes. As a result there is no liability to taxation on any of its income. The trust now appears on the register of the Office of the Scottish Charity Regulator under Scottish Charity No. SC008757. The charity can be contacted at the business address shown.
Recruitment and Appointment of Trustees
The trustees consist of the President and Honorary Treasurer of the Rotary Club of Edinburgh (the Club) as ex-officio trustees and six Club members appointed as ordinary trustees at the Annual General Meeting of the Club. Two ordinary trustees retire annually by rotation. Retiring trustees shall be eligible for re-election, provided that they do not serve more than three consecutive terms of three years.
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDING 30 JUNE 2025
Trustees’ Induction and Training
Trustees are encouraged to attend relevant training courses which deal with the subject of trustees' responsibilities. The trustees meet at least three times per year and receive no remuneration or expenses for their services to the charity. The charity employs no staff.
Risk Management
The trustees actively review the major risks which the charity faces and believe that maintaining the investment portfolio at its current level, combined with the policy adopted for making grants, will provide sufficient resources in the event of adverse conditions.
Related Parties
The Rotary Club of Edinburgh is deemed to be a related party and, as noted above, all trustees are members of the Club. The Club has its own Constitution.
OBJECTIVES AND ACTIVITIES
At an extra-ordinary general meeting of the Club held on 11 May 2023 the objects of the Trust were amended to reflect modern conditions and terminologies. These objects now are:-
-
(a) To assist those in need, either directly or by giving grants to other organisations equipped to do so, especially:
-
m= the poor
-
m= the young
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= those with special needs, because of illness and/or disability m those concerned with the welfare of animals ms those affected by disasters or major emergencies
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(b) To provide support for the advancement of:
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= education
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= religion
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= medical research a improvements to the environment
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(c) To give consideration to supporting any of the above that is:
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= located or based in or around the City of Edinburgh
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= located or based in a country without developed support structures
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= projects that are co-ordinated with Rotary International or other Rotary Clubs.
The trustees make grants and decide on the amount payable on the basis of written applications for funding or sponsorship.
Members of the Club and their families act as unpaid volunteers for the charity.
ACHIEVEMENTS AND PERFORMANCE
No specific targets for fundraising were put in place but fundraising activity raised £23,571 (2024, £16,034). The aim would be to maintain or enhance this level of activity in the future.
Grants distributed and projects supported totalled £32,362 (2024 £29,084) as listed in Notes 5 & 6 to the financial statements.
FINANCIAL REVIEW
Total revenue of £32,806 was up by £7,410 largely due to the May Challenge receipts and District Grants awarded. The trustees were able to award grants and project funding amounting to £32,362, an increase of £3,278 compared with last year.
Also, the investment valuations at 30 June 2025 exceeded the prior year valuations by £25,676 The trustees are satisfied that the financial aims were broadly achieved.
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDING 30 JUNE 2025
INVESTMENT POLICY
This is being achieved by the funds being invested in a spread of investment trusts and similar pooled investment vehicles. As a result of an investment review carried out in 2021, the portfolio was rebalanced to give more weight to income producing investments. This has largely been successful and has resulted in an increase in investment income.
RESERVES POLICY
The Reserves of the charity comprise the Endowed Fund and the Revenue Fund. The current Reserves policy was established at a meeting of trustees held on 5 September 2013 and, while both Capital and Income may be distributed, they agreed as follows:-
1 Endowed Fund
The Endowed Fund will be represented by the components of the investment portfolio held by Stocktrade on 1 April 2013. The only movements in the fund will be as a result of market value changes and additional funds invested.
2 Revenue Fund
The Revenue Fund will be represented by other funds at 1 April 2013 and will be credited with investment income, fundraising and donations received less grants, awards and other expenditure approved by the Trustees.
| expenditure approved by the Trustees. | |
|---|---|
| The resulting Reserves at 30 June 2025 are:- Endowed Fund Revenue Fund |
£320,171 £16,952 |
| £337,123 |
The Trustees aim to maintain revenue reserves of approximately 50% of annual outgoings. The results for the year are shown in the Statement of Financial Activities on page 7.
PLANS FOR FUTURE PERIODS
The trustees plan to continue the activities outlined above including fund-raising and making grants to a variety of deserving causes.
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDING 30 JUNE 2025
RESPONSIBILITIES OF THE TRUSTEES (continued)
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
DISCLOSURE OF INFORMATION TO THE INDEPENDENT EXAMINER
To the knowledge and belief of each trustee at the time that this report is approved:
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so far as each trustee is aware, there is no relevant information of which the charity's examiner is unaware and
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each trustee has taken all steps that he/she ought to have taken in order to make himself/herself aware of any relevant accounts information and to establish that the charity's independent examiner is aware of the information.
Signed on behalf of the trustees
Trustee 4th November 2025
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARITY
I report on the accounts of the charity for the year ended 30 June 2025 set out on pages seven to thirteen.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10 (1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to state, on the basis of my examination as required under section 44(1) (c) of the Act, whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on whether the accounts present a 'true and fair view'.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:
-
proper accounting records are kept in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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accounts are prepared which agree with the accounting records and comply with Regulation 8 The Rotary Club of Edinburgth Jubilee Charity Fund which was established by trust deed dated 1961,
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDING 30 JUNE 2025
| Notes INCOMING RESOURCES Incoming resources from generating funds: Voluntary income 2 Investment income 3 Gain/ (Loss) on investment assets 9 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds Grants 6 Projects 5 Governance Costs TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES BEFORE TRANSFERS Transfer between Funds NET RESOURCES EXPENDED FOR THE YEAR RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
£ 23,571 9,235 32,806 (80) (31,667) (615) 0 (32,362) 444 0 444 16,508 16,952 Fund 2025 Revenue |
£ 0 0 25,676 25,676 0 0 0 0 0 25,676 0 25,676 294,495 320,171 Fund 2025 Endowed |
£ 23,571 9,235 25,676 58,482 (80) (31,667) (615) 0 (32,362) 26,120 0 26,120 311,003 337,123 2025 Total Funds |
£ 16,034 9,362 25,396 (80) (23,105) (5,899) 0 (29,084) (3,688) 0 (3,688) 20,196 16,508 Fund 2024 Revenue |
£ £ 0 16,034 0 9,362 28,717 28,717 28,717 54,113 0 (80) 0 (23,105) 0 (5,899) 0 0 0 (29,084) 28,717 25,029 0 0 28,717 25,029 265,778 285,974 294,495 311,003 Fund 2024 2024 Endowed Total Funds |
|---|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
BALANCE SHEET
As at 30 JUNE 2025
| Notes FIXED ASSETS Investments 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS: Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL NET ASSETS RESERVES Endowed Fund 12 Revenue Fund 13 TOTAL RESERVES |
£ £ £ £ 320,171 294,495 0 0 18,127 16,508 18,127 16,508 1,175 0 16,952 16,508 337,123 311,003 320,171 294,495 16,952 16,508 337,123 311,003 30-Jun-25 30-Jun-24 |
£ £ £ £ 320,171 294,495 0 0 18,127 16,508 18,127 16,508 1,175 0 16,952 16,508 337,123 311,003 320,171 294,495 16,952 16,508 337,123 311,003 30-Jun-25 30-Jun-24 |
|---|---|---|
| 311,003 | ||
| 294,495 16,508 |
||
| 311,003 |
Approved by the Trustees on 14th October 2025 and signed on their behalf by
Niall D C Finlayson Brian Smellie
The notes on pages 9 to 13 form part of these financial statements
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDING 30 JUNE 2025
1 ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value, and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
Investments
Investments are included at market value. Gains and losses on revaluation of investments are charged or credited to the SOFA.
Investment Income
Income from investments is accounted for in the year in which it is received.
Incoming Resources
All incoming resources are recognised once the charity has entitlement to the resources, is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
Income represents donations and collections from the charity's ordinary activities.
Resources Expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. These are allocated as between charitable expenditure and governance costs.
Charitable expenditure is incurred in direct pursuance of the charity's principal objects through fund raising activities carried out by The Rotary Club of Edinburgh.
Governance costs comprise all costs involved in compliance of regulation and good practice.
VAT
The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDING 30 JUNE 2025
2 VOLUNTARY INCOME
| Donations and Fundraising Members Donations - General Kids Out May Challenge - End Polio Burns Supper Movie Night Spice Evenings Fundraiser - Golf Club Charity day Christmas Lunch Prize Draw Gift Aid Easy Fundraising District Grants Received |
£ £ £ 7,225 7,225 7607 0 0 2030 5,880 5,880 0 740 740 0 0 0 569 2,167 2,167 0 3,410 3,410 4244 585 585 0 1,537 1,537 1556 46 46 28 1,981 1,981 0 23,571 23,571 16,034 Revenue Total FundsTotal Funds Fund 2025 2024 |
|---|---|
3 INVESTMENT INCOME
| Income from UK listed investments Bank interest receivable 4 GOVERNANCE COSTS Administration costs 5 PROJECTS Kids Out Women's Aid Vouchers Christmas Parcels |
£ £ £ 8,983 8,983 8971 252 252 391 9,235 9,235 9,362 0 0 0 £ £ £ 0 0 4493 615 615 600 0 0 1,106 615 615 6,199 Revenue Total FundsTotal Funds Fund 2025 2024 Revenue Total FundsTotal Funds Fund 2025 2024 Revenue Total FundsTotal Funds Fund 2025 2024 |
|---|---|
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDING 30 JUNE 2025
6 GRANTS & PROJECTS
| The Rotary Foundation - Annual Fund The Rotary Foundation - End Polio Now RI Christmas Toy Boxes RYLA - Student Fees Rotary CC 2024 Propject - Katmandhu Vintage Chorus St Thomas of Aquins Mission Africa - Elizabeth Townsend Project Trust - Andrew Stewart Palenzuela Hearts and Minds Teapot Trust Project Trust - Zoe Ferguson Vintage Vibes (Lifecare Edinburgh) Venture Scotland Kindred Advocacy Womans Aid Vouchers Freedom Kit Bags My Kind of Book Pregnacy Counselling Empty Kitchens Canine Concern Scotland Light Up Learning Compass Therapy Lothian Autistic Handicapped Children Project Trust - Rachel Jackson Care Support Scotland Green Power Wairuri Foundation - Kenya Mbabaali Memorial School Uganda McConnell Foundation - Keep Girls in School Childrens Visual Project Mexico Guatemala Project Edinburgh Direct Aid International Community Help & Advice Centre 103rd Braids Scouts 72nd Edinburgh Girl Guides Edinburgh Headway Group Inclusive Surfing Scotland Lothian Centre for Inclusive Living Asthma Relief Rowan Alba Global Sight Solutions Project Trust Dean Orphanage & Cauvins Trust Kids Out Christmas Parcels |
£ £ £ 4,564 4,564 5,034 5,500 5,500 0 300 300 300 1,340 1,340 1,200 1,750 1,750 1,695 500 500 500 500 400 400 300 300 500 500 500 500 300 300 1,000 1,000 1,000 1,000 500 500 615 615 600 500 500 500 500 1,000 1,000 1,000 1,000 500 500 500 500 1,000 1,000 1,250 1,250 1,000 1,000 300 300 1,000 1,000 500 500 1,215 1,215 1,215 1,215 1,200 1,200 0 0 500 0 0 265 0 0 2,000 0 0 500 0 0 345 0 0 200 0 0 3,516 0 0 750 0 0 1,000 0 0 950 0 0 2,000 0 0 1,000 0 0 550 0 0 1,000 0 0 4,493 0 0 1,106 32,249 32,249 29,004 Revenue Total FundsTotal Funds Fund 2025 2024 |
|---|---|
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDING 30 JUNE 2025
7 TRUSTEES' REMUNERATION
No trustee received any remuneration or reimbursement of expenses from the charity (2024 - £nil).
8 FUND TRANSFERS
Excess funds are transferred to further the objectives of the charity and in accordance with the revised Reserves Policy
9 INVESTMENTS
| 9 | INVESTMENTS | |||||
|---|---|---|---|---|---|---|
| Movement in market value | 2025 | 2024 | ||||
| £ | £ | |||||
| Market value at 1 July 2024 | 294,495 | 265,778 | ||||
| Sale of shares | 0 | 0 | ||||
| Purchase of shares | 0 | 0 | ||||
| Net gain (loss) on revaluation at 30 June 2025 | 25,676 | 28717 | ||||
| Market value at 30 June 2025 | 320,171 | 294,495 | ||||
| Historical cost at 30 June 2025 | 132,465 | 132,465 | ||||
| Analysis of investments at 30 June 2025 between funds | ||||||
| Revenue | Endowed | Total FundsTotal Funds | ||||
| Fund | Fund | 2025 | 2024 | |||
| £ | £ | £ | £ | |||
| UK listed investments | 0 | 320,171 | 320,171 | 294,495 | ||
| The following investments represented more than 5% of the | value of the | portfolio at 30 June 2025 | ||||
| Holding | Cost | Value | ||||
| 2025 | 2024 | |||||
| £ | £ | £ | ||||
| Alliance Trust - Ordy 25p shares | 3,800 | 10,117 | 46436 | 46,056 | ||
| M & G Charifund Units | 1,200 | 9,445 | 18876 | 18,201 | ||
| Scottish American Investment Co - Ordy 25p shares | 10,000 | 15,414 | 50900 | 51,300 | ||
| Scottish Mortgage Invest Trust - Ordy 5p shares | 6,708 | 2,408 | 69360 | 59,312 | ||
| Murray Income Trust – Ordy 5p shares | 2,748 | 24,997 | 23468 | 23,550 | ||
| Murray International Trust – Ordy 5p shares | 2,086 | 24,996 | 29204 | 26,336 | ||
| Law Debenture Corp - Ordy 5p shares | 5,100 | 20,092 | 51000 | 43,095 | ||
| City of London Investment Trust - Ordy 25p shares | 6,344 | 24,996 | 30927 | 26,645 | ||
| 132,465 | 320,171 | 294,495 | ||||
| 10 | DEBTORS | 2025 | 2024 | |||
| £ | £ | |||||
| 0 | 0 | |||||
| 0 | 0 | |||||
| 11 | CREDITORS | 2025 | 2024 | |||
| £ | £ | |||||
| Deferred Grant Payment | 1,175 | 0 | ||||
| 1,175 | 0 |
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THE ROTARY CLUB OF EDINBURGH JUBILEE CHARITY FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDING 30 June 2025
12 ENDOWED FUND
| Balance at | Transfers | Gain on | Balance at | ||
|---|---|---|---|---|---|
| 1 July 2024 | **Investments ** | 30 Jun 2025 | |||
| £ | £ | £ | £ | ||
| 294,495 | 0 | 25,676 | 320,171 | ||
| Balance at | Transfers | Incoming | Outgoing | Balance at | |
| 1 | July 2024 | Resources | Resources | 30 Jun 2025 | |
| £ | £ | £ | £ | £ | |
| 16,508 | 0 | 32,806 | (32,362) | 16,952 |
| £ 294,495 1 July 2024 Balance at |
£ 294,495 1 July 2024 Balance at |
|
|---|---|---|
| 13 REVENUE FUND £ £ £ £ £ 16,508 0 32,806 (32,362) 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS £ £ £ Endowed Fund 320,171 0 Revenue Fund 0 16,952 320,171 16,952 337,123 Investments assets Total 320,171 16,952 1 July 2024 Resources Resources 30 Jun 202 16,952 Net current Balance at Transfers Incoming Outgoing Balance a |
£ £ £ £ £ 16,508 0 32,806 (32,362) 1 July 2024 Resources Resources 30 Jun 202 16,952 Balance at Transfers Incoming Outgoing Balance a |
|
| £ 337,123 Total 320,171 16,952 |
15 RELATED PARTY TRANSACTIONS
As stated in the Trustees' Report, The Rotary Club of Edinburgh is deemed to be a related party. No individual members of the Club have benefited from donations or sponsorship paid out. Donations received from Club members are shown in Note 2. Club members also act as unpaid volunteers in connection with the various fund raising events and collections.
16 COMMITMENTS
Contribution to Contact Clubs Annual Project £1800.
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