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 re￿ISed 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
pro￿lde 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<tl N.¢ar. bul three dL'l¢rred their stLidies for a } ear
and so no bursarv gFiveii. No new students.joined and fourteen continuing. biit
11)re¢ dre Coiiiiiig lo an end in the !.'ear lo Noi'eiiiber 2025. Bursar), awardq are gii'en to
studcnls M"ho hai'e strong conncctions with Pc>rthshire and ha￿e achieved places at
iiniversilies and colleges ii) cj1asgo￿.' -rhi ￿dIu¢ ot. Ilie bursarn" is set each l.ear b!. the
Board aiid mai, i'"an from liine 10 time. Since ?018. the dii'¢"Llors g<lN'e (Jiiidance that
bursars in their Iirsl S'ear w'il I reLeiwe sei'en hur]dr¢d ￿]d tiftN" pounds; bLirsars in
second }'ear aboi'e H'ill receive one thousaiid pounds per annum. and this raic has
been maiiilaii)ed siiice. The SoLiel}' offered %iipport lo pensioners in ihe pasi. but
during ihc N'car no pavmenis wcrc madL, and no appli¢aiions rccciN'Ld.
Further details on hoH.' io applv for biirsaries are gsjN"en on our website.

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 inde￿ndent 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
st￿rt of vear
Surpliisl Ideficitl ShO￿-n on
stale￿ent of I'eceipis and paJ.'ment
C￿h 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 GI￿001¥.
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 indi￿1￿￿*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" ￿jG￿T 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