Glasgow Perthshire Charitable Society SC009576 Directors, Annual Report and Financial Statements For the year from I ' December 2024 to 30th November 2025
Glasgow Perth5hire Charitable Societv SC009576 Reference and administration details A5 at 301h November 2025: Chariti s principal address Mr Russell L. Ci'ichion Beechwood, Bridge of Weir Road, Kilmacolm. Renfrewshire. PA13 4NN Board of the eharitv (Jirectors Pre%es HonoraTr" Sccretarv Honorary." Ti'easurei. Bursary. Coordinator Russell L. Criclitoii (pictured on cover) N¢il C. M. Mci)zies Russell L. CriLhion Dr. Alastair r. Brow'n IPa.5't Pre.se.5j Mhara M. Broi4 Jonaihcln Crichton MaTh' Mccaig (retired l May 2025) Peier A.G. Mei)/.ies (Pu.s1 PF-¢'.5L).S Ai]dre ÉMcCaig' (appointed l May Website ow- rthshire.d ndns.or Independent Examiner Mr Tom BroTh'n. MA. CA. FCSI. 346 Albert DriNe: Glasgo.. 0415PQ
Glasgow Perthshire Charitable Si)¢iety
SC009i76
Directors, Annual Report
Structurey goTr'ernanee and management
The Societv was foLinded in 18.35 and operates undcr the rules adopted at that time.
These rules have becii reISed periodicall). to bring them into line w iih currcnt best
practice. The GlasgoTh Pcrthshire is a rL'LI)gnised Scoltish Charit! ISC009576) and
has been regislorLd as a charil!. since 7, Mas. 189).
Control is vxei'lised b}. tlie Preses and the directors. Traditionall) one ()f tlie board
acts as .5ccrciai'!' and dcals w'ith corrLspondLnce. (Ir&Janising, funciion5. Lallingy of board
meelings and maintaining of niinutLS. AnoihLr acls (is treasurer and niaintaiiis
financial I'ecords aiid prLpares acLounls for subniission 10 Ilie Indep¢ndeni F.xaminer.
At prescnl Russcll Q richton combines the rolL ol l?rcscs aiid I rcasurLr.
Most busine4% thi% vLar "aS LoiidLILled bv eniail. and a video-conferenco Annual
Genei-al .WleetingJ ag held on I si MaK' 2025.
PoN%'er lo appoint ncii, clirtLtors rc%i% wilh IhL board. Directors ar¢ appointed for three
ears and retire bv rotatian. Ai that Mav ?02.5 meeiinL7:
AndreH." McCaib7 H'as appointed a director
Mar%, Nqccaio retircd aliLr inany Trcar8 as a dirLcior and wa5 'armI). thanked
t()r her "ork fi)r the %()Liel
Mliara Brow]. Jonathan c.richton vi'ere re-elected for 3 iwears.
Objectii'es and actii'ities
There is one gsineral fund for all the tunds ol. the Societ!.. This is used principall}- to
prolde bursarie% t() students troni Perihshire sliidy ing al universities and colleges in
(iIasgo". Fui'lhvr d¥tails are giN'¥ii iii Section C l on pagL 8.
Gii'en ihe cui'renl size ol. tl)¢ Societw s tuiids. simplc ¢ash accounts siiffice.
Consequentl).. Ihe directors lia'e taken adkÉ ntage of di%pensalions l()1' smaller
haritiLS in producing RLc¢ipls and PaN"meiits 15 pe finaniial slaten]ents.
.4chievements and performance
Dr Alastair Bi'oNm contiiiues Ibe task of actin(J as the liaison belw¢en the societ ]d
our bursan.. applicants. The number lif students receiking assisl(uice ti'oni tlie Sociei!.
nLimbered sewenleen in the tinanLi
Glasgow Perthshire Charitable Society SC009576 Financial ReTrie The directors consider the performance of the Soci¢t! s inN'estments has been satistactor), during this period, haN'ing broadl). kept in line with the general stock rnarkel. The comprehensive position is summarised in the StalLn]enl ol. Balances in %ection B but detailed ii) section C6.3 The directors engage Rathbones as iniiesiment n7(agICr5 on a di5crelionari' client basis. '11h our ini'eslment strdieg}" agreed at risk lei'el 5 on Rathbones, scale of1-6 'here l is the most cautious. We are looking for a balanced return from income and capital orowtli. The board lias considered O%C'R's adi'isoTr c()ncerningT I4'h¢n a discretiuiiaTr' broker account is used. il is the nel ol. sales and purchases ihat should appear on the income and pa}"ment accouni. The adi'antage of Ihe rei'ised approach is Ihat the capital elernenls no longer oiierwhelm the operational income and expenditure. The Énsurance of the Preses chain of otlice. "orn by our Preces on the coi'er of these accounts. has been discontinued. During the year. the Societ! had ihe chain 'alUed tor il4 esiimated replacement 'alUe. and foi- its potential sale. but that value is nol included as an asset in the Stateinenl of Balances. The directors have continued to differentiate bet.¢¢n accumiilaled inLome aN'ailabl¢ for g7ranls and historic capital. As accumulated income has fallen into serious deficit. the directors are actii'elv considering rcbasing the leN'el of gTrrants to siudents trorn 202). oi. reducing the sludeni nliinbers, 10 preserve the capital of the Sociei!. for future generations. and keep the sociel! as a goingJ LOI)cem. Thc board have al%0 dLcided to keep the Chain uf Ol'fice for the momeni as it rLprL's¢nt8 the historN" ol. Ihi, SocietN,. bLiI as il can no longer be stored in a bank. it is no longFer in8ured. Indcpendent Examination Mr 1-0rn Broi%'n ¢onliiiues in his eiglileenth i'¢ar t]s indendent examiner. Once again. he waI.ed any" lee and the directors would like to thank him for his time. generosii}' and ongoing contribulion 10 the Socieiy. Deelaration The directors have approl'ed this report. Signed on behalf of the charitN" s directors Signature Date Russell L Crichton. Preses and Treasurer.
Glasgow. Perthshire Charitable Society SC009576 Section A: Statement of Receipts and Payments Period start date 0111212024 To Pcri()d end date 301111202$ F'roin Current l'ear Last Year Al Receipts Incoine from investn]ent5 Inieresi 4,964 966 6,304 A2 Receipts from as5el and ini'estment sale5 lion reriii loan Irnm l?reses Net proceeds from saleQpur¢hases see C6.3 6.140 Total Receipts 16,987 12.444 A3 Pavments Graiiis and doiialions Investinenl Inanaoeinent fec5 Insiirance of Prese%, Chain Valuaiion of Preses. Cliaiii see C2 {14.000} (3631 {1),5001 136*1 806 see C6.1 20 {14,i63) 114.6711 A4 Pavmenls relating to a55et and ini'estment movements Short term LL)aii repaid to Prc5¢% Net consideratioii on saleslpiirchas See C6.3 Total 'mentS (14,563) 114.6711 AS Net reeeipts (pai'Tnent5) & Surplus Idefiiitl for the l'ear 2,425
C.lasgoM, Perthshire ChAritablL' Societv SC009576 Section B: Statement of Balances Bl Cash futkds Current )'ear Lasi Year Cash and bank balances at strt of vear Surpliisl Ideficitl ShO-n on staleent of I'eceipis and paJ.'ment Ch ai)d bank balances ai ai end of yeai. 9.793 12.020 12,217 9.793 B2 IAI'estments Market waluation Market valuaiion Invesiment Portfolio See C6.3 121 435 Toial Ini(estment5 121,435 1 ?0.566 B3 Other assets Current valiiation Previous valuaiion Pre5e5' Chain of OffiLe gee C6.1 B4 Liabilities Amount due Ainoiini due Loan frotll Preses to cover Lhain insiirance See Ci.2 (784) 17841 Current l'ear Ciirreni l'ear Total Funds See C6.2 sjoned on belialf of ull the direLtors Signature Date of Approval Dale of Appmval
GlasgDw Perthshire Charitable Society SC.009576 Section C: Notes to the accounts (l) ci iyature and purp(Ise of fund5 The inl)erited obj¢¢tives of tlie Society were to foster connections beti¥"eeii GI001¥. and Penhsliire. Tliis is manifest no iii our aiding ot Perthshire students snidl'ing in Glasgow. We ollId also consider cases of pensioners iiho lial'e links to both areas, bui have not siipported any for the pasr re. years. C2 Grants Current l'ear Last Year Bursaries (£750 in tl)eir firsi J'ear. £ 1.000 ihereafterl 10 15 stiidents. one of NTrhom differed for a >'ear. {14,0) IlJ.iOOI C3 C4 Director Remuneration Director Expenses io director receives remiiiieraiion or expenses. Transacti(trns H'ith directors and connected persons Nature of relaTI()nship Nature of transaciioii Nature o transacrion l Alistair Crichton is our investment manager di Raihbones. He is the son of Russell Crichton, preses. and brother of Jonathan. Flut the direLtors deal ii.itli Ratlib()nes at arms lengtl). and on siandard commercial renns. Rathbones Fees £363 2 Russell Crichton (Prff ¢5) Ru$8ell paid Ihe insiirance on the preses chain biit was reimbuirsed this expense durin& tlic Jear. -Fliere is one payment oiitsiandin tora reiioiis veaT.
GlasgoM' Perthshire Charitable societv SC009576 Section C: Notes to the accounts (2) C6.1 Other informatio The Societv has a chain ol-office for the Preses. This is noi carried in il)e accoiiiits at its rnark.ei valiie 8S It IS Still, occasionallv. in use. The directors consider it represents tlie liistorv of this Societ). The chain is lield the direciors with a care to io its skfe siorage, and tliej have taken advice on its value for insiirance or for sale purpos. but liave decided it is not practical 10 insure it. See A3. C6.2 Capital Account and Ac¢umulated Revenue Reqerve Current year Last Year Capii#l Aceount Brought Forii'aTd Released io Capital Account Revision to Market ReSer'e Carried Forw'ard 149,In2 l J7.834 27.007 149.101 161401 Accumulated Rei'enue aecounl B Toiight Porn'ard Siirplusl (Deficiil for the vear. exiuding capital chaiiges Carried Foi'ward 119,5271 8.367 19.)27 Total Assets per Statement of Balances 132 868 199. j75
GlasgoiTr Perthshire Charitable Society SC009576 Section C: Notes to the accounts (3) C6.3 Orher infurm#rioti ID¥'est]llertts indi1*1 entltles held at 30 Nofvembtr 2025 Year r.nd number ol- 30111124 Purchase% IHrkel 'Alue PracLLd5 larkei Ilue Fixed IiiieresÈ BLACkROCK ASSET MORA ILIKI Coi'wraie BLL.'EBAI" FIY)S MGKIT (ibl Ini. Gi. Corp R.A THBONES .ISSI.I" jGT High Qualttl Bc Trcasurn 4.175Vo ?(1?7 Trea%urn' 4.12SO, ?{1.Ill Treasui'v J.12) /D Trea5urJ 4.1 ?5Vo ?032 1600 20 1,659 1.615 1.8i6 3,186 ,139 2,.571 1.200 7iO 1.226 1.886 2.768 4.475 2.906 2.576 2.ioo 2.581 Oi"erseas Bonds Abcrdeen tand'd Fund Trfgr i%h<ires 11 l)I.L'. 'I-IPS L.'¢iis ETF 3.291 I.IIC)4 3.390 1.884 ITK Equities Edinburgh Iniesttneni Trust M&(y Chaiifund uniis 19.$36 26,961 18.0?4 ?9.848 1.600 17.44? ()ierseas l..quitie% FINDLA Y PARk l-.LIXI)% ICA V Arneriean Tnc 8.944 26,040 23.32.5 8.7L8 8.1)00 710 211.J4 24.?98 Guiness As.%ei Mang tiIL)bal Equill InL L 1.277 RullLf In¥cstmeni C'o 1.200 i70 ?8. j57
Glasgow Perthshire Charitable Society SC009576 Jndependent Examiner's Report to the Directors of The Glasgow Perthshire Society I rcport on the financial siaiements of tlie Society for the !.'ear ended 30 NoN'ernber 20?5. 'hIch sei out on pages I to 9. Re5peetii'e responsibilities of trust¢¢s and ex#miner Th¢ eharil) s trustces are responsible lor the pr¢paration of the accounts in accordance with the lerms ot. the Charili¢s and Triistee Ini'eqlment (Scoiland) ?OOi Aci and the Charities Accounts (Scoiland) Regulaiions 2006 (as amended). Th¢ chariti, trustees coiisider that thc audii requirement ()I' Regiilatioii l 01 l ) {d) of the -4ccouniS Regiilalion% does not appl!.. li is Iii!. responsibilit!, 10 examin¢ the accounts as required Linder seLlion 44{1) (Ll ()1" the ?005 ,Ict (Iiid to statc whcther particular niaiiers have come lo m)" altenlioii. Basis of Independent Examiner's report M}". examtnation is carried out in accordance with R¢¥7ulation I l of the 2006 Charities Accounts (Scotland} Retsulations ?006. An examination includes a reille. ot.the accountiiio records kept bi, the charity and a compari%on of the accounts presented with those records. It also iiicludes consideraiion of <inN unusual it¢ms or diselosures in the accounts aiid seeks cxplanations from the Irustees Lonc¢rning such Inatters. The procedures undertakL'n do not proi.'id¢ all tlic Liiideiice that M"'oiild be required in an audii and, con%cquentl!: I do nol expi'ess an audit opinion on the accounts. Independent Examiner's stateTn¢nt In the Lourse of rn). examination: no matter has come to m! altentioii l)ich gil'es me reasonable cause lo beli¢ve that in anN" mat¢rial re5peci the reguirenienls.. to kiLP acLouiitingy records iii accordancc '11h Section 44(1) (a) of the ?005 Act and RLbgiulation 4 of the ?006 ,4ccounls Rcgiiilations. <tnd lo preparc accounts "hICh accord '11h the accounting records and ¢omplN' "Ith Regulation 9 of the 2006 AcLouni% Re&)ulations hav'e noi been met. or to hich. in my opinion, attLiilion should be drawn in order 10 enable a proper understanding ot the accounts io be reached. Tom Brown. MA. CA. FCSI. J46 Albert DriTre. CilasgJow. G41 5PQ io