EAST LOTHIAN EDUCATIONAL TRUST
Annual Report and Unaudited Accounts
Forthe year ended 31 March 2025
Registered Charity- SC010587

EAST LOTHIAN EDUCATIONAL TRUST
CONTENTS
Page
Reference and Administrative Infonnation
Governors. Report
Independent Examiner's Report tothe Governors. of the Trust
Statement of Financial Activities
Balance Sheet
Notes to the Accounts
9-18

EAST LOTHIAN EDUCATIONAL TRUST
REFERENCE AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
Charity Name
East Lothian EducationalTrust
Charity Number
SC010587
Principal Office
clo East Lothian Council
John Muir House
Haddington
EH413HA
Current Governors
Representins
East Lothian Council
East Lothian Council
East Lothian Council
East Lothian Council
East Lothian Council
East Lothian Council
East Lothian Council
Presbytery
RC Archdiocese
National Farmers. Union
Community Councils
Federation of Independent Retailers
East Lothian Branch of EducationaL Institute
of Scotland
Independent examiner
Azets Audit Services
Chartered Accountants
Quay 2
139 Fountainbridge
Edinburgh
EH3 9QG
Bankers
Bank of Scotland
23 Westgate
North Berwick
EH39 4AG
Investment athiisors RBC Brewin Dolphin
144 Morrison Street
Edinburgh
EH3 8BR

EAST LOTHIAN EDUCATIONAL TRUST
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Governors are pleased to presenttheir report and accounts forthe year ended 31 March 2025. The
financial statements have been prepared in accordance with Financial Reporting Standard 102 as
issued bythe Financial Reportingcouncil {September2015) and complywith the charity's constitution,
the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts {Scotlandl
Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 102).
Structure, Governance and Management
Constitution
The Trust is a statutory body formed in 1931 to amalgamate a number of Education Charities in the
County of East Lothian. It operated undera Statutory Orderof Parliament, the East Lothian Educational
Trust Scheme 1957, which wasfurtheramended bya re-organisation scheme through the Charities and
Trustees Investment {Scotland) Act 2005, approved by the Scottish Charity Regulator IOSCR) on 13
January 2014.
Recruitment and appointment of Governors
The Trust Scheme provides that its governing Board shall consist of 15 Governors nominated by the
following bodies:
East Lothian Council
Religious Organisations represented in East Lothian
Senatus Academicus of Edinburgh University
East Lothian Branch of National Farmers, Union
East Lothian Branch of UNISON
Commercial Organisations represented in East Lothian
Association of East Lothian Community Councils
East Lothian Branch of Educational Institute of Scotland
7 Governors
2 Governors
1 Governor
1 Governor
1 Governor
1 Governor
1 Governor
1 Governor
Replacement and additionalGovemors are recruited bythe Board as itconsiders necessaryto enhance
and replenish its expertise in line. and the Board is taking steps to fill vacancies. At present the
Governors are actively recruiting for representatives from the Senatus Academicus of Edinburgh
University. East Lothian Branch of UNISON and the East Lothian Branch of Educational Institute of
Scotland.
The governors who served duringthe period from 1 April 2024to date of this reportwere:
The governors who served for a part of this period were".
(East Lothian Branch Educational Institute of Scotland)- appointed 28
November 2024, resigned 2 June 2025, re-appointed 24 October 2025

EAST LOTHIAN EDUCATIONAL TRUST
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Structure, Governance and Management (continued}
Induction and Training of new Governors
New Governors will receive induction from the Chair and Clerk and will be given appropriate training in
govemance.
Organis8tion81 Structure
The Governors meet at least each quarter to oversee the operation of the Trust, determine its strategic
direction and policies, and approve applications forgrants.
The administration role of the Clerk is carried out by a freelance administrator, appointed by the
Governors, under the tems of the Trust Deed.
Objectives and Activities
Charitable purposes
The purpose of the East Lothian Educational Trust is the advancement of education within the local
authority area of East Lothian by provision of grantsto eligble individuals and organisations.
Trust income is limited and grants are of fairly modest amounts. They may be made to persons or
organisations belonging to the old County of East Lothian as it existed on 15 May 1975 who are eligible
to receive grants. Residents in the part of East Lothian Council area formerly in the old County of
Midlothian are ineligible.
The purposes to which income may be applied are set out under the following sections of the Trust
Scheme as grants forthose experiencingfinancial or hardship for:
Section 3.1.3 Research Work
Section 3.1.4 Postgraduate Study
Section 3.1.5 Undergraduate Study
Section 3.1.6 Apprenticeships
Section 3.1.7 Travel
Section 3.1.8 Grants to Schools and similar organisations for educational activities
Section 3.2.1 Sporting Facilities
Section 3.2.2 Recreational Facilities
Section 3.2.3 SportingTaLent
Section 3.3.1 Works of Art
Section 3.3.2 VisualArts Talent
Section 3.3.3 Art Exhibitions
Section 3.4.1 Choirs & Orchestras
Section 3.4.2 Musical Talent
Section 3.4.3 Musical Performances
Section 3.4.5 Dramatic Groups
Section 3.4.6 Library of Plays
Section 3.4.7 Dramatic ArtTalent
Section 3.4.8 Dramatic Performance
Activities andpublic benefrt
The Governors have paid due regard to guidance issued by OSCR in deciding what activities the Trust
should undertake, ensuring it operates for public beneftt.

EAST LOTHIAN EDUCATIONAL TRUST
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and Performance
The Trust is dependent for its activities on the income generated by its investments. The market value
of investments increased by 0.6 % over the year12024: rose by 9%). The investment portfolio is actively
managed to provide a steady income stream forgrant makin& whilst protectingthe value ofthe invested
capital against inflation. With major worldwide elections, and the markets reacting to changes in geo-
politics, there has been much variability in marketvalues. Although equity markets showed growth over
the year to 31 March 2025, this was mainly driven by a few specific technology stocks, whereas other
stocks decLined or exhibited modest growth. Consequently, the Trust's investment portfolio
experienced only modest growth in marketvalue.
As a result of market reactions to uncertain economics, dividend incomewas slightly down on the prior
year. However, due to the use of reseNes, this had no impact on the Governors ability to award the
grants thatthey approved.
Income was enhanced during the year by a receipt of £30,000 from the sale of a small strip of land to
East Lothian Council for access rights. Prior to the sale, the land was deemed to have no value. The
proceeds will be used to furtherthe Trusvs abilityto award grants in line with the Trust Deed.
The Governors were pleased to be able to award grants in the year to the value of £57,919 {2024:
£74,968). This is in line with the annual budget reflecting the dividend income received in the year with
some use of reserves. Grants awarded in the 2023-24 financial year were higher than usual as a result
of previous under-awardingdue to the covid pandemic.
The Trust received 149 applications in the year and made awards to 131. Those applications that were
rejected were all due to not meetingtheTrust's eligibility criteria fully enough.
The majorityof awardswereto supportfamilies in meetingthe costs of school camps organised
by the county's primary and high schools, a total of £30,428 was awarded to 103 pupils.
Grants worth £8.835 supported 16 individuals pursuing undergraduate and postgraduate
education. apprenticeships and arts and sportingtalent.
The Trust also provided fundingto 12 locaigroups" a totalof £18,656forvarious local initiatives.
These included activities targeted at supporting young people struggling at school, running
breakfast clubs, providing Sports equipment, study trips and sessions for young adults with
learning disabilities.
In addition to awarding grants, the Governors have commenced work on establishing a website and
online application process which they plan to launch in 2025-26.
Financial Review
Financial results
In the year to 31 March 2025 the Trust had dividend and other investment income of £86,255 {2024:
£60,522) and distributed grants of £57,919 {2024: £74.9681. The costs to administer the Trust and
investment portfolio, together with legal fees were £27,367 (2024: £29,556). Net gains on the
investment portfolio were £26.17412024: £175.620). Totalfunds under management at 31 March 2025
were £2.250.86812024: £2.223.609) which are represented bythe endowment and unrestricted funds.

EAST LOTHIAN EDUCATIONAL TRusr
GOVERNORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Financial review (continued)
Investmentpoticy andperfonnance
All investments are held with RBC Brewin Dolphin, Stockbrokers to produce maximum income whilst
maintaining the value of investmenL
Govemors'remuneration and expenses
The Govemors received neither remuneration fortheir services, nor expenses (2024: Nil).
Reserves Policy
The Trust manages its endowment fund in line with the Trust Deed and to further the Trusys charitable
purposes. General reserves representthe incorne received from the endowment and are held to provide
grants and administer the Trust in line with the Trust Deed. As at 31 March 2025, the general reserves
were £94.626. The Governors continue to monitor the reserves of the Trust.
Majorrisks facing the charity
The principal risk facing the Trust is that investments fail to generate SLrfficient income to cover
expenditure. The portfolio is managed by an independent investrnent management service, and the
Governors are provided with regular information on income and expenditure to avoid grant expenditure
exceeding forecasted income.
Plans for future perlod3
The Governors will continue to monitor the Trusvs investments to ensure the best balance betNeen
capital gromrth and income in order to ensure that the purposes of the Trust can be met.
They plan for a website and online application process to be up and running in the 2025-26 financial
year.
Approved by the Governors and slgned on thelr behalf
Chairperson
20 November 2025

EAST LOTHIAN EDUCATIONAL TRUST
31 MARCH 2025
Independent Examiner's Report to the Governors of East Lothian Educational Trust
I report on the accounts of East Lothian Educational Trust for the year ended 31 March 2025 which
comprise the Statement of Financial Activities, the Balance Sheet, and the related notes.
Respective responsibilities of Governors and Examiner
The Trust's Governors are responsible forthe preparation of the accounts in accordance with the terms
of the Charities and Trustee Investment {Scotlandl Act 2005 and the Charities Accounts {Scotlandl
Regulations 2006. The Trust's Governors consider that the audit requirement of Regulation 1011 }{al to
(c) of the 2006 Accounts Regulations does not apply. It is my responsibilityto examine the accounts as
required under section 44{1 Ilcl of the Act and to state whether particular matters have come to my
attention.
Basis of Independent Examinerfs report
My examination was carried out in accordance with Regulation 11 of the 2006 Accounts Regulations.
An examination incLudes a reviewof the accounting records kept bythe charity and a comparison of the
accounts presented with those records. It also includes a consideration of any unusual items or
disclosures in the accounts, and seeks explanations from the trustees concerning any such matters.
The procedures undertaken do not provide all the ewdence that would be required in an audit and
consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner's statement
In the course of my examination, no matter has come to my attention:
11)
which gives me reasonable cause to believe that in any material respectthe requirements:
to keep accounting records in accordance with Section 4411){al of the 2005 Act and
Regulation 4 of the 2006 Accounts Regulations. and
to prepare accounts which accord with the accounting records and complywith
Regulation 8 of the 2006 Regulations
have not been met. or
12)
to which, in my opinion. attention should be drawn in orderto enable a proper
understanding ofthe accountsto be reached.
Azets Audit Services
Quay 2
Chartered Accountants
139 Fountainbridge
Edinburgh
EH39QG
DATE: 11 December 2025

EAST LOTHIAN EDUCATIONAL TRUST
STATEMENT OF FINANCIAL ACTVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Endowment
Funds
Funds
2025
2025
Total
2025
Total
2024
Notes
Income from:
Investments
Charitable activities
86,255
116
86,255
116
60,522
1,384
Total income
86,371
86,371
61,906
Expenditure on:
Raisingfunds
Charitable activities
14,032
71,254
14,032
71,254
13,160
91,364
Total expenditure
85.286
85,286
104,524
Net gainsl{losses) on investments
14
26,174
26,174
175,620
Net movement in funds
1,085
26.174
27,259
133,002
Transfers
14,620
(14,6201
Reconciliation of funds:
Fund balances at 1 April
78.921
2.144.688
2,223,609
2.090.607
Fund balances at 31 March
94.626
2.156.242
2,250,868
2.223.609
The results for the year derive from continuing activities.
There are no other gains/(losses) to report.
The notes on pages 9t0 18 form part of these financiaLstatements

EAST LOTHIAN EDUCATIONAL TRusr
BALANCE SHEEr
AS AT 31 MARCH 2025
2025
2024
Notes
Flxed assets
Investments
15
2.133A86
2,121,703
Current assets
Cash at bankand in hand
Debtors
121769
39
134.753
Creditors: Amounts falling due within one year 17
(SA26)
(32,847)
Net current assets
117,382
101,906
Net assets
2250,868
2,223,609
Capital fundg
Endowment funds-general
Incomefunds
Unrestricted Funds
18
2.156.242
2,144,688
18
94.626
78,921
Totsl Charity Funds
2350,868
2,223,609
Approved by the Governors and authorised for issue
Chairperson
20 November 2025
The notes on pages 9 to 18 forni part of these financial statements

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
1 ACCOUNTING POLICIES
1.1 General Information
East Lothian EducationalTrust ItheTrust) isan unincorporated charityregisteredwiththe Office
of the Scottish Charity Regulator {OSCR} with registration number SC010587.
1.2 Basis of Preparation
The financial statements have been prepared in accordance with the Statement of
Recommended Practice: Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 102} and the Financial Reporting Standard applicable in the United Kingdom and Republic
of Ireland IFRS 1021. the Charities and Trustee Investment (Scotland) Act 2005 and the
Charities Accounts (Scotlandl Regulations 2006 (as amended).
East Lothian EducationalTrust meets the definition of a public benefit entity under FRS 102.
These financial statements are presented in Pounds Sterling (GBP) as that is the currency in
which the charity's transactions are denominated. Monetary amounts in these financial
statements are rounded tothe nearest £.
The financial statements have been prepared under the historical cost convention, modified to
include the revaluation of fixed asset investments and certainfinancialinstruments atfairvalue.
The principal accounting policies adopted are set out below.
The preparation of the financial statements requires the use of certain critical accounting
estimates. It also requires Govemors to exercise theirjudgement in the process of applying the
accounting policies. Use of available information and application of judgement are inherent in
the formation of estimates.Actualoutcomes in the fvture couLd differfrom such estimates. The
areas invoLving a higher degree of judgement or complexity. or areas where assumptions and
estimates are significant to the financial statements are discLosed in note 2.
The charity has taken advantage of the provisions in the SORP not to prepare a Statement of
Cash FLOWS.
1.3 Going Concem
Atthe time of approvingthefinancial statements. the Governors have a reasonable expectation
that the Trust has adequate resources to continue in operational existence for the foreseeable
future. Thus, the Governors continue to adopt the going concern basis of accounting in
preparingthe financial statements.

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
1 ACCOUNTING POLICIES (continued)
1.4 Recognition and Allocation of Income
All income is included in the Statementof FinancialActivities when the charity is entitled to the
income, receipt is probable, and the amount can be measured reliably. The following specific
policies are applied to the particularcategories of income:
Investment income comprises dividends receivable during the year on UK listed
investments held within the Trust's investment portfolio.
Interest on funds held on deposit is included when receivable and the amount can be
measured reliably by the Trust. this is normaLly upon notification of the interest paid or
payable bythe bank.
Any grants that are refunded to the Trust are recognised in income.
1.5 Recognition and Allocation of Expenditure
Expenditure is recognised when the charity has entered into a legal or constructive obligation.
has been accounted for on an accruals basis and has been classified under relevant headings.
The charity is not registered for VAT, and accordingly expenditure is shown gross of
irrecoverable VAT. Resources are expended as:
Cost of raisingfunds comprises the costs of investment management.
Charitable expenditure is incurred in the delivery of its grant funding activities and includes
the grants paid togetherwith support costs.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
1.6 Fixed asset investments
Fixed asset investments are initially measured as transaction price excludingtransaction costs
and are subsequently measured at fair value at each reporting date. Changes in fair value are
recognised in net income/expenditureforthe year. Transaction costs are expensed as incurred.
1.7 Taxation
East Lothian Educational Trust is accepted by HMRC as a charity under section 521 to 563,
Income Tax Act 2007, and accordingly no provision is required for taxation surpluses.
1.8 Funds
The generalfundsare unrestricted and administered on a discretionarybasis underthe direction
of the Governors, and in line with the objects of the charity.
The endowment fund provides the basis of the Trust's activities. The income from this trust is
transferred to the general fund to provide grants to individuals and organisations in line with its
charitable purposes. and meetingthe administration costs associated with this.
io

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
1 ACCOUNTING POLICIES (continued)
1.9 Financial Assets and Financial Liabilities
Financial instruments are recognised in the Balance Sheetwhen the charity becomes a patyto
the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial
statements. when there is a legally enforceable right to set off the recognised amounts and
there is an intention to settle on a net basis or to realise the asset and settle the liability
simultaneously.
Financial instruments are initially measured at transaction price. Subsequent to initial
recognition they are accounted for as set out below.
The charity onlyenters into basicfinancial instruments. Atthe end of each reporting period basic
financial instruments are measured at amortised cost using the effective interest rate method.
Financial assets are derecognised when the contractual rights tothe cash flows from the asset
expire, or when the charity has transferred substantially alLthe risks and rewards of ownership.
Financial liabilities are derecognised only once the liability has been extinguished through
discharge, cancellation or expiry.
1.10 Cash and Cash Equivalents
Cash and cash equivalents are represented bycash in hand, deposits with financial institutions
and other short-term liquid investmentswith original maturities of three months or less.
2 CRITICAL JUDGEMENTS AND ESTIMATES
The preparation of financial statements in compliance with the Charities SORP {FRS 102} requires
the use of certain critical accounting estimates. It also requires the Governors to exercise
judgement in applying the charity's accounting policies. The Governors do not considerthere to be
any material accountingjudgement required in preparingthese accounts. The Governors are
satisfied that accounting policies are appropriate and applied consistently.
li

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
3 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITES
Unrestricted Endowment
Funds
Funds
2024
2024
Total
2024
Income from:
Investments
Charitable activities
Total income
60.522
1.384
60,522
1,384
61,906
61.906
Expenditure on:
Raisingfunds
Charitable activities
13,160
91,364
13.160
91.364
Total expenditure
104,524
104,524
Net gain on investments
175.620
175,620
Net movement in funds before transfers
(42,618)
175,620
133,002
4 INVESTMENT INCOME
2025
2024
Income from listed investments
Disposition from land
56,255
30,000
60.522
86,255
60.522
All income from investments in 2025 and 2024 was unrestricted.
5 CHARITABLE ACTIVITIES
2025
2024
Grants from previous years refunded
116
1,384
The income represents grants awarded in prioryears, that have been repaid where their
purpose was no longer met.
12

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
6 RAISING FUNDS
2025
2024
Investment management fees
14.032
13,160
All investment management costs in 2025 and 2024 were unrestricted.
7 CHARITABLE ACTIVITIES
2025
2024
Grant funding of activities {see note 8)
Share of support costs (see note 9>
57,919
13,335
74,968
16,396
71,254
91.364
All charitable activities expenditure in 2025 and 2024was unrestricted.
8 GRANTS PAYABLE
2025
2024
Grants to institutions..
Section 3.1.8- Grants to Schools & simiLar
Section 3.2.1- Sporting facilities
Section 3.2.2- Recreational Facilities
Section 3.3.3-Art Exhibitions & similar
13,856
2,000
2,600
200
42.473
2.000
1.192
3.100
18,656
48.765
Grants to individuals..
Section 3.1.4- Postgraduate Study
Section 3.1.5- Undergraduate Study
Section 3.1.6-Apprenticeships
Section 3.1.7- SchoolTrips & Travel
Section 3.2.3- SportingTalent
Section 3.4.2- MusicalTalent
Section 3.4.7- Dramatic Arts Talent
4,250
500
3.335
30.428
4.500
3.200
300
16,845
400
408
550
750
39.263
26,203
Total grants payable
57.919
74.968
13

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
8 GRANTS PAYABLE (continued)
2025
2024
Grants were paid to the followinginstitutions."
Pennypit Trust
The Ridge SCIO
Preston Lodge High School
Active Schools Meadowmill
Pennypit Special Needs Youth Club
Ross High SchoolActive Schools
Ross High School S3 Activities
Recharge Tranent
Knox Academy S2 Activities
Dunbar Minis Girls squad
West Barns Parent Council
Haddington & District Probus Club
Richmond's Hope
Ross High School
Battle of Prestonpans Heritage Trust
West Barns Primary School
Pencaitland Playgroup
Scottish Seabird Centre
2.000
2.000
2.000
2.000
2.000
2.000
2.000
2,000
1,280
600
576
200
25,593
6.000
2,072
400
5,000
4,000
2,010
2,000
1,000
690
Total grants to institutions
18,656
48.765
9 SUPPORTCOSTS
2025
2024
Administration fees
Legal fees
Accountancy
9,000
2,005
2,330
13,631
965
1,800
13,335
16,396
All support costs in 2025 and 2024 related solely to the charitable activities of the Trust.
Fees of £2,150 were incurred in relation to the 2025 independent examination.
10 EMPLOYEES
There were no employees duringthe year (2024: None)
14

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
11 VOLUNTEERS
The nature of the Trust's activities does not require the input of general volunteers beyond the
valuable time given by the Governors.
12 GOVERNORS REMUNERATION
No remuneration or other benefits or expenses have been paid to the Governors or any person or
persons known to be connected with any of them (2024: nil).
13 RELATED PARTY TRANSACTIONS
There were no related partytransactions in the yearto 31 March 2025 {2024: None).
14 NET GAINSI(LOSSES} ON INVESTMENTS
2025
2024
Revaluation of investments
Realised gainlllossl on sale of investments
14.344
11.830
175,423
197
26.174
175,620
Ail gains/losses on investments in 2025 and 2024 are attributable tothe endowmentfund.
15 FIXED ASSET INVESTMENTS
2025
2024
Listed
Listed
Investments Investments
Cost or valuation
As at 1 April
Additions
Valuation changes
Disposals
2,121,703
329,915
14,344
(332.476)
1.943.713
1.024.575
175.423
(1,022,008)
Carrying amount as at 31 March
2,133.486
2,121,703
15

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
16 FINANCIALASSETS AND LIABILITIES
2025
2024
Carrying amount of financial assets
Measured at fairvalue
2,133.486
2,121,703
17 CREDITORS: AMOUNTSFALLING DUEWITHIN ONEYEAR
2025
2024
Income held on behalf of other parties
Grants approved to be paid
Accruals and other creditors
10,000
6,616
16,231
1,076
4,350
5,426
32.847
The Trust received £10.000 in 2022 on behalf of five local schools regarding servitude over
land use. This was paid overto the schools concerned in June 2024.
18 MOVEMENTOF FUNDS
At
1 April
2024
Gainllloss)
on
Expenditure investment
At
31 March
2025
Income
Transfers
Endowment fvnds
ELET Endowment
[a] 2,144,688
26,174
(14,620) 2,156,242
Total Endowment
Funds
2,144.688
26,174
(14,620) 2,156,242
Unrestricted Funds
General Fund
[b]
78.921
86,371
185,286)
14,620
96,626
Total Unrestricted
Funds
78.921
86,371
185,286)
14,620
94,626
Total Funds
2.223.609
86,371
(85,286)
26,174
2,250,868
16

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
Movements in fiinds- comparative figures
At
1 April
2023
Gain/(loss)
on
Expenditure investment
At
31 March
2024
Income
Transfers
Endowment funds
ELETEndowment
[a] 2.037. 132
175.620
(62.064) 2, 144,688
Total Endowment
Funds
2.037. 132
7 75,620
(62,064) 2, 144,688
Unrestricted Funds
General Fund
[b]
59.475
61.906
(104,524)
62,064
78,921
Total Unrestricted
Funds
59.475
61.906
(104,524)
62,064
78,921
Total Funds
2.090.607
61,906 (104,524)
175,620
2,223,609
Notes:
[a] The Endowment Fund represents the endowment which forms the basis of the Trust and is
invested to provide income to meet the charitable purposes of the Trust.
[b] The general fund represents the free resetves of the charity which are avaiLable to distribute as
grants in line with the Trust Deed and for any expenditure necessary for the operation on the Trust
in line with the Deed.
Transfers: A transfer of £14,620 has been made from the endowment funds to the unrestricted
funds. This represents the surplus of the fund over the market value of the investments and bank
account held with the investment managers which under the Trust Deed can be used to cover the
costs of providing grants and administering the Trust. The surpLus has arisen as the investment
management fees have been charged to unrestricted funds, whereas they have actually been met
from the endowment fund returns. The transfer represents those charged in the current and past
years.
17

EAST LOTHIAN EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
18 ANALYSIS OF NET ASSETS REPRESENTING FUNDS
Unrestricted Endowment
Funds
Funds
2025
2025
Total
Funds
2025
Investments
Net current assets
2.133.486 2,133,486
22.756
117,382
94.626
94,626
2,156,242 2.250,868
Analysis of netassets representing funds- comparative figures
Unrestricted Endowment
Funds
Funds
2024
2024
Total
Funds
2024
Investments
Net current assets
2. 727.703 2,121,703
22,985
101,906
78.921
78.921
2. 744.688 2,223,609
18