THE DRUMMOND TRUST TRUSTEES’ ANNUAL REPORT FOR YEAR ENDED 31 December 2024 Scottish Charity No. SC011077 ## Current Trustees ## Contact address Hill & Robb Limited, Solicitors, 3 Pitt Terrace, Stirling, FK8 2EY. ## History, Governing Document and Charitable Purposes The Drummond Trust was created by Peter Drummond, Seedsman in Stirling, by Trust Disposition dated 21 August 1863 and registered in the Books of Council and Session on 16 July 1877 and subsequent Codicils. The Trust which started in the lifetime of Peter Drummond and continued after his death on 9 July 1877 was involved principally with the printing and distribution of tracts in Stirling and further afield to observe Sunday as the Lord’s Day and to spread His Word. Before 1977 the Trust (then commonly known as Stirling Tract Enterprise and Drummond’s Tract Enterprise) employed its own staff and had its own printing works where tracts and other Christian publications were printed. In 1977 financial constraints and difficulties caused the Trust to scale down its operation and it now exists purely to make grants available to assist in the publication of works of sound Christian doctrine and outreach. Assistance may be given to computer software, music CD’s etc. fulfilling the trust purposes. The Trustees prepare accounts on an annual basis to 31 December in each year. All administrative, financial and legal matters including preparation of annual accounts are handled through its Secretaries. Hill & Robb Limited, Solicitors, 3 Pitt Terrace, Stirling to whom all correspondence for the Trust should be addressed. Since around 1975, the Trust operated a partnership with the University of Stirling to hold a series of lectures once every two years which gave an opportunity to advance the Trust purposes and to further spread the name of Peter Drummond and the Drummond Trust and also Peter Drummond’s more celebrated nephew Henry Drummond. The arrangement is now at an end, 2007 being the last of the formal Lectures series. The Trustees consider supporting Lectures and Talks on an ad hoc basis and did so in 2010, 2012 and 2021. They organised a highly successful Mission Conference in March 2017. The Trustees meet twice a year in March and September to consider the financial and other administration of the Trust and also to consider applications for grant assistance for publications. Grants are paid upon publication. ## Recruitment and Appointment of Trustees The Trustees are self appointing to a maximum of 9. The quorum is 3. The current Trustees have a broad range of knowledge covering expertise in religion to financial expertise. ## Main Activities and Achievements in the financial year Grants totalling £17,501.98 were awarded during the year to assist publications. Grants previously awarded totalling £11,915.87 were paid upon publication of various works applied for. The Trust’s financial position remains sound. The accounts are self-explanatory. There are no particular changes contemplated as to development or other activities of the Trust. No other information is relevant for proper appreciation of the financial position. There are no bodies connected with the Trust. There are no transactions between connected bodies. ## Policy on Expenditure and Reserves Expenditure allocated for each subsequent year’s grant allocation is calculated from the most recent annual accounts. In the calculation administration costs and trustees expenses are attributed as appropriate between capital and revenue. The proportion of the costs attributed to revenue is deducted from the total annual income as shown in the accounts. From that sum 10% is deducted. Thereafter any funds allocated in previous years and not claimed within 1 year from date of award are added back to give the total for the year ahead. The 10% deduction is designed as a prudent measure to preserve some Trust assets based on its historical experience. ## Trustees Remuneration and expenses The trustees do not receive any remuneration. ## STIRLING, On behalf of the Trustees of the Drummond Trust, we hereby approve the terms of the foregoing Report. ## THE DRUMMOND TRUST ## ACCOUNTS _comprising Statement of Receipts and Payments and Statement of Balances_ as at 31st December 2024 Scottish Charity No. SC011077 THE DRUMMOND TRUST ## Statement of Receipts and Payments |(All funds unrestricted)
RECEIPTS
31,071.94
Investment Income
Dividends from incorporated
Companies, per Schedule IV -
net
30,000.00
Interest from Government &
Local Authority Securities per
Schedule V - less tax
0.00
Bank Interest per Schedule VI
1071.94
31,071.94
{24,010.67}
31,071.94
Proceeds from sale of investments
Per Schedule I
-
Capital Receipts
Per Schedule III
9,847.64
__________
Total Receipts
C/F
40,919.58
Note
There is no Income Tax repayment due
for the 6 years to 31/12/24
For the period from 1st January 2024 to 31st December 2024
{Figures in brackets denote period from 1st January 2023 to 31st December 2023}|(All funds unrestricted)
RECEIPTS
31,071.94
Investment Income
Dividends from incorporated
Companies, per Schedule IV -
net
30,000.00
Interest from Government &
Local Authority Securities per
Schedule V - less tax
0.00
Bank Interest per Schedule VI
1071.94
31,071.94
{24,010.67}
31,071.94
Proceeds from sale of investments
Per Schedule I
-
Capital Receipts
Per Schedule III
9,847.64
__________
Total Receipts
C/F
40,919.58
Note
There is no Income Tax repayment due
for the 6 years to 31/12/24
For the period from 1st January 2024 to 31st December 2024
{Figures in brackets denote period from 1st January 2023 to 31st December 2023}|{2023}
{24,010.67}
{23,044.27}
{0.00}
{966.40}| |---|---|---| ||31,071.94
-
9,847.64
__________
40,919.58|{24,010.67}
-
{28,451.48}
{52,462.15}| 2 For the period from 1st January 2024 to 31st December 2024 (cont) |2024
Feb-16
Apr-09
Apr-11
Apr-25
May-22
Jun-25
Jun-25
Jun-25
Dec-14
Dec-12
Feb-Mar
2024
2024
2024|2024
Feb-16|2024|B/fwd
40,919.58
{52,462.15}
PAYMENTS
-
GRANTS
11,915.87
-
1200.00
-
240.00
-
500.00
-
500.00
-
5000.00
-
500.00
-
1073.89
-
1000.00
-
600.00
1301.98
11,915.87
{7,750.00}
11,915.87
40,919.58
{52,462.15}
{7,750.00}
Drummond Lectures-Mission Conference
-
Costs in connection with above per
0.00
{0.00}
Schedule X
850.00
{0.00}
- IT Website services fee
850.00
Trustees and Secretarial Expenses
NONE
0.00
{0.00}
{0.00}
Adjustment
Movement on Investec Account
28,451.48
C/fwd
41,217.35
40,919.58
{52,462.15}
{7,750.00}
3
For the period from 1st January 2024 to 31st December 2024
B/fwd
41,217.35
40,919.58
{52,462.15}
re publication of India and the
End of an Empire
Church of Scotland re Living Generously
Iona Community Trading CIC (
) Grant re " The Gift of Stillness"
(formerly called Iona Pilgrims Paths)
Handsel Press re Faith, Church and Physics
Iona Community Trading CIC (
) grant awarded for "The Season of
Waiting" formerly called an Advent Scrap
Book
Sanctuary First
Miscellaneous Expenses
grant award for
Publication of "The Warm Heart"
Iona Community Trading CIC (
) grant awarded for "The Jar and The
Jug"
St Aidan's Church re publication of The
Environmental Crisis and the Church
re publiciation| |---|---|---|---| ||Apr-09
Apr-11
Apr-25
May-22||| ||Jun-25||| ||Jun-25||| ||Jun-25||| ||Dec-14||| ||Dec-12||| |||2024|| |||2024|| ||||
Movement| |2024|Stockbrokers Expenses
0.00
0.00
Expenses of Administration
McMillan Audit Ltd - Auditor's fee (for year
to 31/12/23)
510.00
- independent
Examiner's Fee (for year to 31/12/23)
400.00
Hill & Robb Limited business charges for
administration for year to 31/12/23
12,732.00
13,642.00
{12,743.49}
Estate Invested
Per Schedule No. II
0.00
{0.00}
Capital Changes
Per Schedule No. III
0.00
{0.00}
Total Payments
Surplus
Investec fee charge for 6 months to
31/03/2024 See Schedule III
Investec fee charge for 6 months to
30/09/2024 See Schedule III|-
13,642.00
54,859.35
-
-
|54,859.35
13,939.77
-|{7,750.00}
{1439.07}
{12,743.49}| |---|---|---|---|---| |2024||||| |||||{21,932.56}
{0.00}
{21,932.56}| |||||{30,529.59]| 4 |Statement of Balances as at 31st December 2024

Less Deficit/Add Surplus
Cash in Bank and in hand 31/12/23|Total 2024
55,823.32
13,939.77
-
41,883.55|Total 2023| |---|---|---| |||25,293.73
30,529.59| |||55,823.32| |Bank Balance
Bank Balance
Cash in hand
Cash held by Investec
Other Assets
Stocks & Shares at market value (Per Schedule IX)
Feu Duties at historical value
Liabilities
Hill & Robb Limited
13,626.00
400.00
546.00
14,572.00|32,035.91
-
9,847.64
41,883.55
Total 2024
540,597.64
123.00
540,720.64|27,371.84
28,451.48| |---|---|---| |||55,823.32| |||Total 2023| |||519,908.00
123.00| |||520,031.00| |||| ## STIRLING On behalf of the Trustees of the Drummond Trust we hereby approve the foregoing Accounts together with the Schedules annexed. ## THE DRUMMOND TRUST ## Schedule No. I 5 Estate Realised & Sale of Rights 2024 Realised Book Value |Jan-30
Oct-02
Oct-03
Oct-03
Dec-02
Dec-09|JO Hambro Cap Mgt Johcm UK Eq
6,2330.408 Shares @ 121p
Less Brokerage etc
Baillie Giff Oseas, BG American Fund W3 Dis
420 Shares @ 1318p
Less Brokerage etc
First Sentier Inv, SI Asis Pacific Ldrs Sust B
483 Shares @ 1102.95p
Less Brokerage etc
Schroder Unit Trust
2,992 Shares @ 116.8p
Less Brokerage etc
Baillie Giff Oseas, BG American Fund W3 Dis
334 Shares @ 1616p
Less Brokerage etc
Jupiter UT Mngrs, Jupiter UK Dymn Eqty X Dis
21,230 Shares @ 121.1p
Less Brokerage etc
Capital taken from cash held by Investec
Gain on Realisation|7,538.79
-
5,535.60
-
5,327.25
-
3,494.66
-
5,397.44
-
25,709.53
-
|7,538.79
5,535.60
5,327.25
3,494.66
5,397.44
25,709.53
53,003.27
-
53,003.27
53,003.27
-
-|6,396.00
4,093.00
4,516.00
2,932.00
3,255.00
21,878.00| |---|---|---|---|---| |||||43,070.00
9,933.27| |||||53,003.27| |||||| ## THE DRUMMOND TRUST Schedule No. II Estate Invested 6 2024 Costs |Feb-01
Jun-21
Oct-24
Oct-08
Dec-02
Dec-09
Dec-09
Dec-10|M&G Investmnt Fd (1)
5,510 Shares @ 136.75p
Less Brokerage etc
Goldman Sachs Wert 8.85% FTSE/S&P
8,000 Shares @ 100p
Add Brokerage etc
TM Natixis Inv Fds TM N Ls Eqty Ldrs
915 Shares @ 653.59p
Add Brokerage etc
BA Beutel Goodman, BA Beutel Goodman Us Val C
500 Shares @ 1496p
Add Brokerage etc
TM Natixis Inv Fds, TM N L US Eqty Ldrs
545 Shares @ 747.11p
Add Brokerage etc
Ishares FTSE 100, Ishares Core FTSE 100 Ucits
1,250 Shares @ 813.69p
Add Brokerage etc
WS Saracen Inv Fds, WS Saracen Gbl Inc & Gth A
5,270 Shares @ 108.24p
Add Brokerage etc
Findlay Park Fd Ic, Findlay Park Amer I GBP Dis
52 Shares @ 18244p
Add Brokerage etc
Capital purchases funded from cash held by Investec|7,534.92
-
8,000.00
-
5,980.35
-
7,480.00
-
4,071.75
-
10,171.13
-
5,704.25
-
9,486.88
-|7,534.92
8,000.00
5,980.35
7,480.00
4,071.75
10,171.13
5,704.25
9,486.88
-| |---|---|---|---| ||||58,429.28| 7 ## THE DRUMMOND TRUST ## Schedule No III Capital Changes & Bonus Issues etc Transfer to Investec Cash Account 28,451.48 2024 Capital Transactions Cash Statement |Jan-02
Jan-30
Apr-02
Apr-09
Jun-26
Jul-01
Oct-01
Oct-02
Oct-08
Oct-08
Dec-02
Dec-09
Dec-09
Dec-10
Dec-31|Payments
Payment to Hill & Robb

Purchases on this date as per page 6

Payment to Hill & Robb

Fee charges to 31.03.24

Purchases on this page as per page 5

Payment to Hill & Robb

Payment to Hill & Robb

Purchases on this page as per page 6

Fee Charges to 30.09.24

Purchases on this page as per page 6

Purchases on this page as per page 6

Purchases on this page as per page 6

Purchases on this page as per page 6

Purchases on this page as per page 6

Payment to Hill & Robb
|6,000.00
-
7,534.92
-
6,000.00
-
1,925.65
-
8,000.00
-
6,000.00
-
6,000.00
-
5,980.35
-
1,957.82
-
7,480.00
-
4,071.75
-
10,171.13
-
5,704.25
-
9,486.88
-
6,000.00
-
|92,312.75
-| |---|---|---|---| ## Capital Transactions Cash Statement Receipts Jan-11 125 Findlay Park Fd Ic GBP Dis 1.75 Jan-30 Transfer from income to dealing ledger as per page 5 7,538.79 Feb-05 EQU/P G5388264 11433 JH Inv Fds Srs 34.40 Mar-06 EQU/P G5878982 15100 WS Saracen Inv Fds 104.52 Mar-28 Depost Interest 185.12 Mar-28 Transfer from DRUMM0067 Income account 1,553.06 Apr-30 EQU/P G6286662 4098 Blackrock Fm Ltd 101.46 May-07 EQU/P G6287808 46294 JP Morgan Fund 583.30 May-08 EQU/P G6138921 5510 M&G Invstmt Fund 50.74 Jun-06 EQU/P G6652752 21230 Jupiter UT Mngrs 75.99 Jun-06 EQU/P G6564063 11891 Lazard Invtmnt Funds 131.35 Jun-24 Credit Argiole 10% FTSE redemption proceeds 7,590.00 Jun-28 Transfer from DRUMM0067 Income account 3,036.09 Jun-28 Deposit interest from 28.3.24-27.6.24 145.88 Jun-28 EQU/P G7332721 17033 Schroder Unit Trst 8.39 Sep-02 EQU/P G6789569 8376 Schroder Unit Trst 159.46 Sep-30 Transfer from DRUMM0067 Income account 3,340.78 Sep-30 Deposit interest from 28.6.24-27.9.24 120.64 c/fwd 24,761.72 8 Capital Changes & Bonus Issues etc Schedule No III (Cont'd) b/fwd 24,761.72 Oct-02 Baillie Giff Oseas BG American Fund W3 Dis Sett 4.10 per page 5 5,535.60 Oct-03 First Sentier Inv Stwrt In Asia Pac Ldrs B A Sett per page 5 5,327.25 Oct-03 Schroder Unit Trst Schroder Asian Alpha Plus L Sett per page 5 3,494.66 Dec-02 Baillie Giff Oseas BG American Fund W3 Dis Sett 4.12 per page 5 5,397.44 Dec-09 Jupiter UT Mngrs Jupiter UK Dymn Eqty per page 5 25,709.53 Dec-31 Transfer from DRUMM0067 Income Account 3,395.54 Dec-31 Deposit interest from 28/09/2024-30.12.24 87.17 73,708.91 Investec Capital Cash held at 31.12.24 9,847.64 ## - Schedules of Investment Income (Nos IV VII) IV Income from Dividends Per Section F Jan-02 Standing order Apr-02 Standing order Jul-01 Standing order Oct-01 Standing order Dec-31 Standing order 6,000.00 6,000.00 6,000.00 6,000.00 6,000.00 30,000.00 {23,044.27} 9 THE DRUMMOND TRUST 2024 . Interest from Government Securities Government of UK None Note: All dividends and interest are now collected by Investec and remitted quarterly 10 - ' Schedules of Investment Income (Nos IV VII) (cont d) V 0.00 {0.00} |VI
2024
Mar-28
Jun-28
Sep-30
Dec-31
VII|2024|Bank Interest
Clydesdale Bank
Interest received
389.01
Interest received
211.79
Interest received
220.00
Interest received
251.14
1071.94
{966.40}
Investec
Interest for year
Company Preference Dividends
None|1,071.94| |---|---|---|---| ||||1,071.94
-| ||||1,071.94| ||||| |Bank Transactions
Clydesdale Bank plc
BALANCE AT CLOSE OF LAST ACCOUNT
2024
Jan-08 Lodged
Feb-16 Uplifted
Mar-11 Uplifted
Mar-25 Uplifted
Mar-28 Interest received
Apr-09 Lodged
Apr-11 Uplifted
Apr-22 Uplifted|11
Schedule No VIII|Lodged
27,371.84
6,000.00
389.01
6,000.00|Uplifted
1,200.00
400.00
13,242.00
500.00
1,200.00| |---|---|---|---| |Apr-25 Uplifted
Jun-25 Uplifted
Jun-28 Interest received
211.79
Jul-01 Lodged
6,000.00
Sep-30 Interest received
220.00
Oct-14 Lodged
6,000.00
Dec-04 Uplifted
Dec-12 Uplifted
Dec-31 Interest received
251.14
Lodged in January sitting on matter
6,000.00
Lodged in January sitting on matter
1,411.98
BALANCE AT CLOSE OF THIS ACCOUNT
___________
59,855.76|5,500.00
2,573.89
1,901.98
1,301.98
32,035.91| |---|---| ||59,855.76| |12
Schedule No IX
Statement of Investments as at
31st December 2024
(a) Stocks & Shares in Incorporated Companies
Artemis Fund Managers
26548.907 Income Institutional Inc
Empiric Student Property Plc
7500 Ordinary Shares of 1p
Fidelity Invst Fds Fid Monelybldr nc Fd I Dis
12193 Income Fund
INT Public Partner
8059 Ordinary shares|Market Value
30,956.00
6,266.00
9,721.00
9,776.00| |---|---| |Ishares FTSE 100 Ishares core FTSE 100 Ucits
1535 Ishares
Blackrock FM Ltd Blackrock European Dynamic
4098 shares
HICL Infrastructure Co Ltd
6900 ord shares of 0.0001
JH Inv Fds Srs I JH EURP Seld Opps G GBP Dis
11433 shares
Premier Miton Inv3 Prem Miton EURP Opp F Acc
2815 shares
Invesco Physical Secured Gold Lkd Nts 31/12
59 shares
The Renewables Inf
8000 Ord Npv
MI Twenty four Inv MI Twentyfour Dymn Bd I Grs
60 Dynamic Bond
MI Twenty four Income Ord Red GBP0.01
7659 Ordinary shares
c/fwd
13
Schedule IX (Cont'd)
Statement of Investments as at
31st December 2024
b/fwd
(cont'd)
(a) Stocks & Shares in Incorporated Companies (cont'd)
Pimco Global Adviser
750 Global Inv Grade Cred
Morgan Stanley If EMG Mkts DT Opps Jhr GBPDIS
587 shares
JP Morgan Fund Icvc JPM
46294 shares
JPMorgan ETFS (Ire US Rei Equity Esg Etf Dis)
613 shares
Baillie Giff Oseas BG American Fund W3 Dis
1701 shares
Findlay Park Fd Ic Findlay Park Amer I GBP Dis|12,177.00
11,792.00
8,218.00
15,823.00
9,005.00
11,835.00
6,872.00
5,933.00
8,256.00| |---|---| ||146,630.00
146,630.00
8,625.00
5,130.00
32,633.00
27,150.00
26,927.00| |177 shares
Vanguard Funds plc S&P 500 Ucits Etf USD Dis
301 shares
Schroder Unit Trst Schroder Us Smlr Cos Z Dis
8376 shares
Baillie Giff Oseas BG Japanese Fd W3 Acc
974 shares
First Sentier Inv Stwrt In Asia Pacific Ldrs BA
1467 shares
Schroder Unit Trst Schroder Asian Alpha Plus L
14041 shares
Ishares V Plc MSCI Acwi Ucits Etf USD acc
258 shares
JO Hambro Cap Mgt Johcm UK Eq Inc Y Dis
31500 UK Equity Inc
WS Saracen Inv Fds WS Saracen Gbl Inc & Gth A
20370 shares
c/fwd
14
Schedule IX (Cont'd)
Statement of Investments as at
31st December 2024 (Cont'd)
b/fwd
Lazard Invtmnt Fds Emerging Markets J GBP Dis
11891 shares
Assura Plc Ord GBP0.10
5995 Ordinary shares
BA Beutel Goodman BA
500 shares
TM Natixis Inv Fds TM N Ls Us Eqty Ldrs Qa Acc
1460 shares
M&G Invstmnt Fd (1) M&G Japan Sterlig Pp Dis
5510 shares
Goldman Sachs Wert 8.85% FTSE/S&P Def Acall 31
8000 shares|31,370.00
26,985.00
17,196.00
18,467.00
15,785.00
15,937.00
18,370.00
44,919.00
21,224.00| |---|---| ||457,348.00
457,348.00| ||13,128.00
2,299.00
7,395.00
11,260.00
7,993.00
8,403.00| |(b) Government & Local Authority Securities
UK (Govt of) 0.375% Snr 22/10/30 GBP1000
£12500 Bonds
UK (Govt of) 1.75% Snr 07/09/37 GBP1000
£13600 Bonds
UK (Govt of) 0.125% Inx Lkd 22/03/26
£2000 Bonds
Add Cash held by Investec as Capital
Add Interest accrued
Feu Duties-
20/28 Forbes Road
6/20 Belgrave Road
6/24 Kaimes Road
Ground Annual -
5/7 Dunedin Street
Gain on Asset Value between 31/12/23 and 31/12/24
Market Value as at 31/12/2023
Market Value as at 31/12/2024|50.00
--
43.00
30.00
{520,031.00}
520,031.00
540,720.64
20,689.64||10,058.00
9,768.00
3,012.00
9,847.64
86.00
540,597.64
123.00| |---|---|---|---| ||||540,720.64| ||||| **----- Start of picture text -----**
15
**----- End of picture text -----**
**----- Start of picture text -----**
Schedule X
**----- End of picture text -----**
Expenses in connection with conferences or fesitvals **----- Start of picture text -----**
2024
**----- End of picture text -----**
|Paid
-|Received| |---|---| ||| 16 ## THE DRUMMOND TRUST ## Balance Sheet ## Capital & Liabilities |Special Bequest Account
The late A.W. Gregory's Bequest
John Jamieson's Trust
Rev Daniel Blades Exy (Legacy 4/6/15)
Gift Account
Gift from
Gift from
Capital
As at 31st December 2023
Less loss on Income in period
Add gain on Asset Value over year|10,478.00
25,266.93
1,000.00
36,744.93
6,673.00
15,000.00
21,673.00
503,794.39
14,869.77
-
488,924.62
20,689.64|36,744.93
21,673.00
509,614.26
568,032.19|{36,744.93}
{21,673.00}
{503,794.39}
{562,212.32}| |---|---|---|---| |Page 3 Deficit
Add back Expenses of administration for 2023
Less expenses of administration for 2024|13,642.00
-14,572.00|13,939.77
-
13,642.00
14,572.00
-| |---|---|---| |||14,869.77
-| ## 17 ||THE DRUMMOND TRUST|THE DRUMMOND TRUST|||| |---|---|---|---|---|---| ||as at 31st December, 2024||||| ||Assets||||| |Investments
at market value per||||540,720.64|{520,031}| |Schedule IX|||||| |Made up thus:-|||||| |Stocks and Shares|in incorporated in companies||540,597.64||| |Government and Local Authority Securities Feuduties|||-||| ||||123.00||| ||||540,720.64||| |Cash||||27,311.55|{42,181.32}| |On deposit with Clydesdale Bank plc|||32,035.91||| |Held by Hill & Robb|Limited||-||| |Add held by Investec|||9,847.64||| ||||41,883.55||| |Less due to Agents|14,172.00||||| |Due to|400.00|-|14,572.00||| ||||27,311.55||| 568,032.19 {562,212.32} |Bank Balance as per page 4
Less Expenses of Administration 2024|41,883.55
14,572.00
-| |---|---| ||27,311.55| STIRLING 17th September 2025 On behalf of the Trustees of the Drummond Trust we hereby approve the foregoing Accounts together with the Schedules annexed. ## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE DRUMMOND TRUST** ## **Independent Examiner’s Report** I report on the Accounts for the year ended 31 December 2024 set out on pages 1 to 17. ## **Respective responsibilities of trustees and 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. The charity trustees consider that the audit requirement of Regulation 10 (1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44 (1) (c) of the Act and to state whether particular matters have come to my attention. ## **Basis of Independent Examiners Statement** My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes 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 evidence 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: 1.which gives me reasonable cause to believe that in any material respect the requirements: * to keep accounting records in accordance with Section 44 (1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and * to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not been met, or 2.to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.