Scollish Charity No SC009685 ROW FOGO CHARITABLE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP T. 0131228 3777 Ref.. SNB.NJN.ROW0004
ROW FOGO CHARITABLE TRUST FOR THE YEAR ENDED 5 APRIL 2023 Contents Page Reference and Administrative Information Annual R&port of the Trustees Independent Examiner's Report Slalement of Finanoi81 Activitie8 Balance Sheet Note8 to tha Flnancial Slalements 10-14 Reference and Administration Inforniation S¢ottlsh Charity Number SC009685 Trustees Registerèd Office. Solicitors. secretaries & Treasurérs Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP Independènt Examlngr Iiar-erea Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8PB 2counl8nt Bankers Bank of Scotland The Mound Edinburgh EHI 1YZ Royal Bank of ScotlarKI St Andrew Square Edinburgh EH2 2YB Investment Managers Ralhbone Investment Management George House, 50 George Square Glasgow G2 1EH 64g30601 1 BrodEs
ROW FOGO CHARITABLE TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023 The trustees present their port along with the financial slalemenls for the year ended 5th April 2023. The financial slalemenls have been prepared in accordance with the trust deed and The Charities Accounts (Scotlandl Regulations 2006 las amended), Finan¢ial Reporting Standard 102, a5 issued by the Financial Reporting Council, the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK arid Republic of Ireland IFRS 1021" and the accounting policies set out in note 110 the financial stalemenl5. obj8ctivos and Actlvltlg$ Trust purpo$•s The deed of trust provides for wide-reaching charitable objective$, 8ffording the charivs Iru3tees the power and flexibility lo apply income and capital of the trust fund, by awarding gran15, "to any charitable institution or institutions Iwhelher incorporated or noll either for the general purposes of such institution or institutions or for any specific charitable purpose or purposes of or connected nth such institution or inslitulions" Notwithstanding the wide reaching charitable purposes, the trustees, grant priorities are'.- the promotion of medical research projects., care of the eldeily., and supporting smaller, local, charities and community groups. Regarding the criteria Ljsed by the IrLJStees to assess su¢Gess. the Ituslee5 monitor the performance of the Irusl's investment portfolio to measure the growth of capital and income which in turn provides the funding to sustsin the giants awarded each year and the ability lo commit lo grants paid out over a three year period. Success is a150 measured by the amounts of grants given to beneficiaries in line wth charitable objectives and how effectively they have been applied lo meet those obje¢lives. Reports on the use of funds are received from all benefi¢iaries and reviewed by the ttuslees, and an annual presentation is received from key research stsff al the University of Edinburgh in relation lo their grant. Grant making policy Grant5 ale awarded in accordance nth the objectives set out in the trust purposes above. The Iruslees. policy 15 to consider applications for gmnts annually. Achievements and Perforniance The investment in¢ome for the year, excluding lax repayrnenls, amounted lo £58,233.15 12022.. £183,726.77) a decrease of £125,493.62. Income lax repayments received and due this year amountéd lo £nil12022.' £39.27) making the overall income for the year £58,233.1512022.' 183,766.041. The decrease in investment income is due to the investments being sold in May 2022. as the trustees agreed that the trust should be wound up. During the year the trustees agreed lo make donations lolalling £5,250,000 12022.. £89,500). Donations amounting lo £205,000 12022.. £95,0001 were also paid out during the year lo the University of Edinburgh which were included as creditors in last years a¢wunls. The trust had entered into an Agfeemenl of Philanthropic Grfting signed 19 October 2020. The trustees agreed to a three year donation5 commitment of £300,000 lo the University of Edinburgh to support the work of the Row Fogo Centre for "Ongoing support for the Row Fogo Centre for Research into Ageing and the Brain" beeen 2021 and 2023. £95,000 of this donation was paid last year and the £205,000 balance has been paid this year. Financial Review There werè no invÈstmènls held at the end of the year on 5 April 2023 12022.. £5,988,229 excluding cash held a5 part of the portfolio of £27,033.19). The accounts show an overall balance of £259,499.16 12022". £5.910,405.22 inGluding inveslmenlsl. The trustees 111 distribute the remaining balance of sash to cornplele the wind up of the trust in due Gourse. 64930801 1 Brodies
ROW FOGO CHARITABLE TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023 Reserves policy 11 is the policy of the trust lo maintain the capital fund at a level sufficient to provide income along wth capital growth lo cover rnanagemenl, administration and donations for fulure years. Resèrvés 315 April 2023 were £259,499.1612022'. £5,910,405.22). These figures show that the trust holds SLrfficienl funds lo cover these expenses. Capital unrestricted funds are those designatad by the trustèes la be held for the generation of investment income. Investment policy The trust used the services of Ralhbone Investment Management as discretionary investment advisers during the year until the sale of investments in May 2022. The Ifust's portfolio previously sought a balance of income and capital growth and employed a long term lime perspective with a relatively high risk IDlerance. Risk management The Iru51ee5 have assessed the risks lo which the trust is expos8d, in parb¢ular those related lo the operations and finances of the trust and are satisfied that systems are in place lo miligale exposure to major sks. The trusteès considerad variability of inve51menl retums as one of the major risks, and therefore the trust used the services of Ralhbones as investment advisers. Future Plans After due consideration of the trust's past and current charitsble acuvilies. the Iruslees agreed lo distribute all income and ¢apital and thereafter wnd-up the trust. They applied lo OSCR on 15 February 2023 and consent was granted on 2 March 2023. The Iru5Ys investment portfolio has been liquidated and various donations have been made In line with the Irusvs charitable purposes, per the Iruslees, inslrLJCtions. Al the appropriate time, the Iruslees ll11 make the final donations and the trust will then be wound up. Strueturo, Govornan¢e and Managernent Establishment of twst The charty is an unincorporated trust established by deed of trust dated 6 April 1970 and registered in the Books of Council and Session 7 May 1970. 11 is a registered charity, nLJmber SC009685. Following OSCR consent, the trustees resolved by a minute dated 29 August 2017 to ¢hange the name of the charity lo "The Row Fogo Charitable Trusv, from 'The Mrs Gladys Row Fogo Charitable Trust" Tru5tge meetings and appointment New Iruslees are appointed by the existing trustees, and are briefed on the Irusfs aims, objectives. grant making policy and purposes. Al the annual Ituslees meeting, the investment manager prOVed a detailed presentation on changes in market conditions and Brodies LLP as secretaries inform the Iruslees of any changes in the law that may affect the trust. The trustees then agree the broad strategy and areas of activity for the trust, including consideration of grant making, investment, reserves and risk management policies and performance. The Iruslee8 a ¢onsidereLI to be the Key Management Personnel of the IDJSt. The day to day management of the trust is delegated to Brodies LLP. 64930601 1 Brodies
ROW FOGO CHARITABLE TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 5 APRIL 2023 statement of the Trustees. Responsibilities The Irustegs are responsible for preparing the tru8lees' annual report and the financial slalemenls in accordance wlh applicable law and United Kingdorn Accounting Standard$ Iuniled Kingdom Generally Accepted Accountng Practice). The law applicable to charities in Scotland requires the trustees to ppare financial statements for each financial year which give a true and fair view of the slate of affairs of the trust and of the income and expenditure of the trust for that period. In preparing these financial ststements, the Iruslee5 are required lo.. select suitable accounting policies and then apply them consislenlly". observe the methods and principles in the FRS 102, Charitie5 SORP (second edition October 20191.. make judgements and eslimales that are reasonable and prudent., state whether applicable UK accounting standards hava baén followed, $ubleot to any material departures disclosèd and èxplainèd In thè finaneS8l slalemenls., #nd prepare the financial slalements on the going concem basis unless il is inappropriate lo presume that the trust will continue in operation. The trustees are responsible for keeping adequate accountlng records that are sulflclenl lo show and explain the trust's transkctions and disclosè with r88sc)nable aGouiacy at any lime the financial position of the trust and 8n3blè thèm lo ènsure that the financial slalemenls comply with the Charities and Trustee Inve8lmenl IScolland} Act 2005, Regulation 8 of the Charities Accounts (Scotlandl Regulations 2006 las amended) and the provisions of the trust's constitution, They are also responsibl& for safeguarding the assets of the trust and hence ft)r taking reasonable slep8 for the pr8ventlon and detection of fraud and other irregu18ritie8. Statement of disclosure of infonnation to the independent examiner To the knouledge and beliel of each of th8 persons who arè trusteés at thè timè thé report 5$ approved.. So far as the trustees are aware, there is no relevant infDmialion of thich the trust'5 independent examiner is unawdre, 2nd They have taken all the steps that they ought lo have taken as trustees In order lo make themselves aware of any relevant independent examination information, and lo establish that the Iru5t'5 independent examiner is avmre of the information. Approved by the Iruslees and authorised for issue on their behalf by.. 2023 64930601 1 Brodies
ROW FOGO CHARITABLE TRUST INDEPENDENT EXAfvIINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023 I report on the financial statements for the year ended 5 April 2023 which are sel out on pages 2 10 14. Respectlve responsibllitles of trustees and Indepandent axamlnara The charity's Iruslees are responsible for the weparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2006 las amended). The charity trustèes consider Ihal the audit requirement of Regulation 10111 lal to {cl of the 2006 Accounts Ragulations does not apply. 11 is my re5ponsibilily lo examine the accounts as raquirad under saclion 44111 Icl of the Act and lo stste whether particular mallers have come to my attention. Basls of indèpendent tsxaminer's ststomont My examlnallon is carried out In accordance 1th Regulation 11 of the 2006 Accounts Regulallons. An examination include5 a review of the accounting records kept by the charity and a comparison of tha a¢¢ounts presented wlh those recorols. 11 also includes consideration of any unusual rtems or disclosure5 in the accounts, and Seeks explanations from the trustees conceming any such matter5. The pmcedures undertaken do not provide all the evidence that would be required in an audit, and con3equenlly I do not express an audit opinion on the view given by the accounts. Ind•p&nd&nt oxamln&rfs ststgmènt In the course of my examination, no matter has come to my altenb'on 1. Mthich gives rne reasonable cause to believe that in, 8ny material respects the requirements.. lo keep accounting records in accordance with S&¢lion 41(1)la} of the 2005 Act and Regulation 4 of the 2006 Accounts Ragulations, and lo prepare accounts which accord with the accounting record5 and comply rith Regulation 8 of the 20C6 Accounts Regulations have not been met, or have not been met, or 2. to which, in my opinion, atténtion should be drawn in tsrdar lo enable a proper understanding of the accounts to ba reached. Chartered Accountsnt Capital Square 58 Morii50n Street Edinburgh EH3 8PB 2023 . 6493C601 1 Brodies
ROW FOGO CHARITABLE TRUST STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023 Unrestrl¢ted funds Capital Revenue 2023 Total 2022 Total Nots Income and endowments from: Investments 58,233.15 58,233.15 183,766.04 Total income 58,233.15 58,233.15 183,766.04 Expenditure on: Raising Funds inveslmenl management cost Charitable Activities 3,154.06 23,810.00 3,154.06 5,273,810.00 6,308.12 23,294.55 5,297,620.00 125,680.00 Totsl expenditure 26,964.06 5,276,964.06 5,303,928.12 148.974.55 Net Ilossesllgains on inv8stm8nts Realised UnrèalisÈd 405,211.09) 405,211.091 51,074.50 189,595.60 Totsl not I108$osllgains 405,211.09 405,211.09 240.670.10 Net income and net movoments in funds 432,175.15) 1 5,218,730.91) 1 5,650,906.081 275,461.59 Fund Balances brought forvrdrd at 5 April 2022 6,007,448.50 97,043.28 5,575,273.35 1 5,315,774.191 5,910,405.22 259,499.16 5,634,943.83 5,910.405.22 Transfer capital lo revenue to combine funds for wind-up Fund Balances Cairied fotward at 5 April 2023 1 5,575,273.35) 5,575,273.35 13 259,499.16 259,499.16 5,910,405.22 The notes on pages 8 to 14 form part of these financial statements. 64930601 1 Brodies
ROW FOGO CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2023 2023 2022 Note Fixed Assets Investments 8,015.262.19 Current Assets Deblc>rs Cash at Bank 29,536.07 91.174.12 14 263,799.16 263,799.16 120,710.19 LlabllStles Creditors Amounts falling dua within one year Net current assets 10 4,300.00 120,567.18 259,499.16 143.03 Totsl assèts less current liabilities 259,499.16 6,015,405.22 Creditors- Amounts falling due after more than one year 105,000.00 Net assets 259,499.16 5,910,405.22 Represented by: Unrestricted funds Capital Revenue 13 6,007,448.50 97,043.28 259,499.16 259,499.16 5,910,405.22 Approved on behalf of the trustees and aulhorised for issue on their behalf by.. /sfra 2023 The notes on pages 8 to 14 form part of these financial statements. 64930601 1 8rodi88
ROW FOGO CHARITABLE TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 1 Accounting Polici8s General information The financial statements for the trust are drawn up for the year and@d 5 April 2023. The a¢livilies of Row Fogo Charitable Trust I'lhe trusVI are to promote rnedical research projects, support smaller local charrtable projects and provide care of the eldedy through making grants to appropriate institutions and individuals. The Injst operates under the deed of Irusl. The trust's Scollish charity number is SC009685 and the principal address Is Brodies LLP, Capital Square, 58 MolSOn Street, Edinburgh, EH3 8BP. The Iruslees applied to OSCR on 15 February 2023 for permission to wind up the Irusl. OSCR gave con8enl on 2 March 2023. Basls of accounting The financial slalements have been prepared in accordance with the Financial Reporting Slan(tard 102. as issued by the Financial Reporting Council 120151, the Slalement of Recornmended Practice ISORPI Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Isecond edition O¢tober 20191., the Charities and Trustee Investment IScotl2ndl Act and the Chartties AonIS (Scotlandl Regulations 2006 la5 amended). They aff prepared on the historical cost basis. except for investments which have been included al fair value. The trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless olhenNise slated in the relevant accounting policy. These financial statements are presented in pounds sleding IGBPI as that is the cUrncY in which the trust's transactions are denominated. Going concem The trustees are of the opinion that the trust wll be wound up by the end of 2023. Recognition and allocation of incomo Incorlle 15 recogni5ed when the trust has legal entillernenl to the funds. the receipt is probable and the amount can be measured reliably. Where practicable, income is related lo the operating activities of the trust. Investment income is eamed through holding a55ets for inve51rnenl pUoSe5 such as shares. 11 includes dividend5 and interest which are measured al fair value, generally the transaction value. These are included when the right lo receipt is established. Grants payable are payments made lo third parties in the furtheran¢e of the ¢haritable objectives of the ¢harity. Single or mulli-year grants are accounted for when either the recipient has a reasonable expectab'on that they will receive a grant and the Iruslees have agreed lo pay the grant wilhoul condition. or the recipient has a reasonable expectation Ihal they will receive a grant and any condition attaching to the grant is outside of the control of the charity. The liming of expected payments of grants is reviewed on an annual basis and adjustments made lo amounts due within one year and more than one year as appropriate. Where grants are payable after more than one year they are accounted for at discounted value at the year end where the effect of the discounting is material. 64930601 1 Brodies
ROW FOGO CHARITABLE TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 l Accounting Policies Icontinuedl Recognition andallocation of exponditur8 Liabilthes are rècogni5ed as resources expended as soon as there is a legal or constructive obligatlon committing the trust lo the expenditure. Al expenditure is accounted for on an arual$ basis. Where possible, expenditure has been charged direct lo charitable expenditure OT Cost of raising funds. Cost of raising funds consist of investment management fees. Charitable expendilLJre MprIseS those costs incurred by the trust in the delivery of its 8clivilies and services for ils beneficiaries. Governan¢e costs include those costs associated ufjlh meeting the constitutional and stslulory requirements of the tru51 and include the audit fees and costs linked to the slr*egic management of the charity. Administration costs have been allocated between capital and revenue funds on a 50.'50 basis. Investments All investments have now been sold. Investments were quoted on UK Stock Exchanges and were stated at market value. Investments were reviewed at least annually by Rathbones, stockbrokers and changes in the portfolio are made at their discretion. Gains and losses were recognised in the period in which they arise. Cash and eash equivalents Cash and cash equivalents consist of cash on hand and balancès rith banks and are measured at amortised cost. Débtors Short lemi debtors are recognised at the settlement amount due. Creditors CdItorS are obligation5 to pay for goods or seiceS that have been acquired. They are recognised 81 the undiscounled amount owed to the supplier, which is normally the invoice price. Financial assets and financial liabilities The trust only has financial assets and finaricial liabilitie5 of a kind that qualify as basic financial inslrumenls. Basi¢ finan¢ial instruments are initially recognised al transaction value and subsequently measured al their settlement dale. VAT The Iru3t is not registered for VAT and accordingly expenditure includes VAT where appropriate. Taxation The trust is a charity and is COgnised as such by H M Revenue & Customs for tsxali)n purposes. As result there is no liability lo laxalion on any of ils income. Funds Unre31ricled fund5 are those that may be used al the discretion of the trustees in furthemnce of the objects of the charity. The Iruslees rnainlain an unrestricted fund lor this trust which is split bètween capital and revenue. The capital fund represents investments in the stock market. From this fund stockbrokers fees and haw of the adminislralion féès arè paid. The revenue fund collects the income from the investments, wvers half the trust adminislralion fees and from the balance donations are made. Funds have now been amalgamated a5 the trust is being wound up. 64930601 1 Brodies
ROW FOGO CHARITABLE TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 2 Critical Judgemonts and Estimatès In preparing the financial 51atemenls tru51ees make estimates and assumptfons Mthich affect reported results, financial position and disc105LJre of contingencies. Use of available information and application of judgement are inherent in the formation of the eslimales, together with past experience and expectations of future events that are believed lo be reasonable under the circumstances. Actual results in the futuie could drffer from such e51imales. Al the year end there are no areas where critical Judgements or material estimates have been made. 3 Comparative Statement of Financial Activitios Unr8strlcted fvnds Capltal Revenue 2022 Total Incomè and èndowments from.. Investments 183.766.04 183,766.04 183,766.04 183,766.04 Total Expgnditure on: Raising funds Charitable activities 11.647.27 18,090.00 29 737.27 11,647.28 107.590.00 119,237.28 23,294.55 125,680.C)O 148,974.55 Total Gain on investments Net expenditure and net movomont In funds 240.670.10 240,670.10 210,932.83 64,528 76 275,4S1.59 4 Investment Income 2023 2022 Dividends and interest from investments Bank interest Incom8 lax recovered 56,207.59 2,025.56 183,6S8.26 58.51 39.27 58,233.15 183,766.04 5 Charitable Activities Expendltura 2023 Unrestricted funds Capital Rèvenu8 2022 Totsl All expenditure relates lo the one charitable acliwty of providing grants. Charitable Aclivilies.. Donations (Note Sl Administration expenses Governance Costs.. Auditor fee Independent examiner fee 5,250,000.00 23.130.00 89,500.00 33,120.00 23,130.00 180.00 500.00 180.00 500.00 3,060.00 23,810.00 5,273,810.00 125,680 00 64930601 1 10 8rodies
ROW FOGO CHARITABLE TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 2023 2022 6 Donations to Institutions DonaliDns awardgd dunng the year.- University of Edinburgh Development Trust 2020 commitment, inslalmenl Less provision al 514122 100.000.00 100.000.00 95,000.00 95.000.00 University of Edinburgh Development Trust 2020 commitment, final inslalmenl Less provision al 514122 105,000.00 105,000.00 University of Edinburgh Development Trust Erskine Hospital Royal National Lifeboat Inslilulion NMS Charitable Trust Parkinson's Disease Society UK National Trust for Scotland Age Scotland Alzheimer Scotland Action on Dementia Drum Riding lor the Disabled IAH Charity Company Ltd Ilndependence at Homel Muscular Dystrophy UK Deaf Scotland Ipreviousty Scottish Council on Deafness) Scottish Au115m Cancer Support Scotland (Tak Tent) Capital Carers Open Door Edinburgh Blind Veteran5 UK Broomhouse Centre Calibre Audio Library Care & Repair Edinburgh Ltd Deafblind Scotland Eric Liddell Centre Visibility Scotland (trading name for GWSSBI Handicabs Lolhian Ltd Health in Mind Independent Age previously Royal United Kingdom Beneficent Association Leuchie House Lifec3 (Edinburyhl Ltd - Vintage Vibes Lomond Mountain Rescue Team Maggies Keswck Jencks Cancer Caring Centre Trust Penumbra Revive MS Support Royal Blind Asylum & School Scottish Hunlinglon's Association 4,000,000.00 250,000.00 250,000.00 250,000.00 250,000.00 250,000.00 7,000.00 9,000.00 6,000.00 7,000.00 6,000.00 8,000.00 6,000.00 4,000.00 4,000.00 3,000.00 1,500.00 3,000.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 1,500.00 5,250,000.00 89,500.00 64930601 1 Brodie8
ROW FOGO CHARITABLE TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 7 Trustogs, Remuneratlon The Iruslees are considered lo be the key management of the trust. No trustee received any remuneration, other benefits or expenses during the year as a result of their role as Iruslee.12022'. £Nil}. 8 Investments 2023 2022 Quoted investments Cash held 88 part of portfolio 5,988,229.00 27,033.19 6,015,282.19 Opening market value Less.. Disposals al opening market value 5,988,229.00 5,792,898.00 {5,988,229.00) 11,166.910.521 Acquisitions at ¢osl Net gain on rèvaluation 1,172,645.92 189,595.60 Closing market value 5,988,229.00 Cost 3,613,277.88 9 Debtors 2023 2022 Ralhbones :. Income cash balance held Investment income declared pre S April 2022 and payable post 5 April 2022 12,841.34 16,694.73 29,536.07 64930601 1 12 Brodies
ROW FOGO CHARITABLE TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 10 Creditors - Amounts Falllng Due Within One Year 2023 2022 Accruals- independent examination fee Brodies LLP - fees Ralhbones - fees University of Edinburgh - Braln Imaging Research Centre - provision for donation due October 2022 (second payment of 2020 agreed donation) 1.000.00 3,300.00 3,000.00 10.800.00 6,767.16 100,000.00 4,300.00 120,567.16 11 Creditors - Amounts Falling Due AftBr Morg Than Ono Yèar Guarantees and oon7mitrn7enls.' The trust has èntered into an Agreement of Philanthropic Giftlng signed 19 October 2020. The trustees agreed lo make donations tolalling £300,000 to the University of Edinburgh lo support the work of the Row Fogo Genlre for Research into Ageing and the Brain bebmeen 2021 and 2023. The final inslalmenl was paid early as the charity is being wound up. 2023 2022 Timing Ocl-21 Ocl-22 Ocl-23 Amount £95,000 £100,000 (See note 10) £105,000 (see note 10) £300 000 105.000.00 105,000.00 12 Flnancial Assets & Liabilitles 2023 2022 Financial assets al amortised cost Financial asse15 al fair value Financial liabilities at amortised cost 263,799.16 147,743.38 5,988,229.00 225,567.161 4,300.001 1 259,499.16 5,910,405.22 Financial assets al amortised cost comprise of cash held al bank and debtors. Financial asset at fair value comprise of investment5. Financial liabilities al arnortised cost comprise of accruals, cash due to agents and grants payable. . 64930SOI 1 13 Brodies
ROW FOGO CHARITABLE TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 13 Analysi3 of Net Assets Between Funds 2023 Unrastricted Funds R8v•nu8 Capital Total Fixed asset investments Nel current a5selsllliabililiesl Long lerni liabilities 259,499.1S 259,499.16 259,499.16 259,499.16 Analysls of Net Assets Betsveen Funds 2022 Unrestrictad Funds Rèv&nu& Capital Total Fixed asset investments Nel current assetsllliabililiesl Long term liabilities 6,017,732.08 10,283.581 2,469.891 10,428.61 105,000.00 97,043.281 6,015,262.19 143.03 105,000.00) 5,910,405.22 6,007,448.50 14 Analysis Of cash 2023 2022 Cash held at Brodies LLP- HBOS SSDA Cash held at Brodies LLP- RBS 805.32 262,993.84 263,799.18 14,734.12 76,440.00 91,174.12 Cash held at RathbDne Investment Management Capital cash included in note 8 27,033.19 118,207.31 263.799.16 15 Related Party TransacOn$ There were no related party transactions in the current or previous year. 64930601 1 14 Brodies