2023-12-31-accounts - Govan Stewart Trust

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TRUSTEES’ REPORT FOR THE YEAR ENDED 10 JUNE 2023

THE GOVAN STEWART TRUST

Charity Number SC011081

The Trustees have pleasure in presenting the Report for the year ended 10 June 2023.

Constitution

The Govan Stewart Trust was set up by the late Mrs I R Govan Stewart in terms of her Deed of Trust dated 16 July 1963 and registered in the Books of Council and Session on 16 January 1964. The current Trustees are

They served for the full year.

Objectives

The Trust was originally set up for the benefit of workers, both past and present, of The Faith Mission and was subsequently extended by Deed of Declaration to include the benefit of Evangelistic work, both within the United Kingdom and abroad, and also for the benefit of active or retired Christian workers of every description.

Principal Activity

The Trustees hold the dwellinghouse at 20 Longformacus Road, Edinburgh for the benefit of workers both past and present of the Faith Mission. Active steps are taken to maintain the property in good condition. The Trust conducts its activities from 5666 Frederick Street, Edinburgh, the office of Balfour+Manson LLP who carry out the administration of the Trust.

Reserves Policy

The principal asset of the Trust is the dwellinghouse. The Trustees require to maintain adequate reserves to meet usual maintenance requirements. The cash reserves have now been increased and have been maintained at the increased level.

Investment Policy

The Trustees’ policy is to invest with a view to maintaining a flow of income while at the same time trying to maintain the capital base of the investments.

Grant Making Policy

As reserves are still at a fairly basic level and it is anticipated that there will be continuing requirements for maintenance it is not proposed to make any grants in the forthcoming year.

Financial Information

The value of the investments as at 10 June 2023 was £9,330. This compares with a valuation of £10,053 on 10 June 2022. Based on independent advice, the Trustees estimate the value of the dwellinghouse at £400,000.

Risk Management

The Trust is open to fluctuations in the Stock Exchange and also in the property market. However, the risk of this is minimised by taking advice and by holding broad based investments. The Trust has no long term commitments and accordingly regards any risk as being low, minimal and easily contained.

Taxation

The Trust is a charity and is recognised as such by HMRC for taxation purposes. As a result, there is no liability to taxation on any of its income.

Trustees’ Responsibilities

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the surplus or deficit of the Trust for that period.

In preparing those financial statements the Trustees are required too:-

❑ Select suitable accounting policies and then apply them consistently;
❑ Make judgments and estimates that are reasonable and prudent;

❑ Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue to operate;

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statements comply with The Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Enter SC No. below SC011081

Enter charity name below

Govan Stewart Trust

		Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~	Receipts andpayments accounts For the period from Period start date Period end date to 11 June 2022 Day Month Year Day Month Year 10 June 2023 ~~———~~
Section A Statement of receipts and payments
			Unrestricted funds	Restricted funds			Expendable endowment funds			Permanent endowment funds			Total funds current period				Total funds last period	Total funds last
			to nearest £	to nearest £			to nearest £			to nearest £			to nearest £				to nearest £	to nearest £
A1 Receipts
Donations			35,000										35	35	35	35,000
Legacies			-										-	-	-	-
Grants			-										-	-	-	-
Receipts from fundraisingactivities			-										-	-	-	-
Gross tradingreceipts			-										-	-	-	-
Income from investments other than
land and buildings			450										450	450	450	450	369	369
Rents from land & buildings			2,700										2	2	2	2,700	2,700
Gross receipts from other charitable
activities													-	-	-	-	0	0
			-										-	-	-	-
*A1 Sub total*	*A1 Sub total*	*A1 Sub total*	38,150	-	-	-	-	-	-	-	-	-	38,150	38,150	38,150	38,150	3,070
A2 Receipts from asset &	A2 Receipts from asset &
investment sales
Proceeds from sale of fixed assets	Proceeds from sale of fixed assets		-										-	-	-	-
Proceeds from sale of investments			-										-	-	-	-
*A2 Sub total*	*A2 Sub total*	*A2 Sub total*	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

**Total receipts **			38,150	-	-	-	-	-	-	-	-	-	38,150	38,150	38,150	38,150	3,070
A3 Payments
Expenses for fundraising activities			-										-	-	-	-
Gross trading payments			-										-	-	-	-
Investment management costs			-										-	-	-	-
Payments relating directly to charitable		Payments relating directly to charitable
activities			454										454	454	454	454	644	644
Grants and donations
													-	-	-	-
Governance costs:
													-	-	-	-
Audit / independent examination													-	-	-	-
Preparation of annual accounts													-	-	-	-
Legal costs	Legal costs		1,680										1	1	1	1,680	1,680
	Other	Other	Other-										-	-	-	-
			-										-	-	-	-
*A3 Sub total*	**A3 Sub total **		2,134	-	-	-	-	-	-	-	-	-	2,134	2,134	2,134	2,134	2,324
A4 Payments relating to asset and
investment movements
Purchases of fixed assets
													-	-	-	-
Purchase of investments													-	-	-	-
*A4 Sub total*	**A4 Sub total **		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

**Total payments **			2,134	-	-	-	-	-	-	-	-	-	2,134	2,134	2,134	2,134	2,324
*Net receipts / (payments)* A5 Transfers to / (from) funds *Surplus / (deficit) for year*		36,015 - - - 36,015 745 - 36,015 - - - 36,015 745 ~~===~~

APPENDIX 2 Govan Stewart Trust	APPENDIX 2 Govan Stewart Trust					SC011081
Section B Statement of balances
Categories Signed by one or two trustees on behalf of all the trustees B3 Other assets B1 Cash funds B2 Investments B5 Contingent liabilities B4 Liabilities	Details	Unrestricted funds to nearest £ 14,105 36,015	Restricted funds to nearest £	Expendable endowment funds to nearest £	Permanent endowment funds to nearest £	Total current period to nearest £	Total last period to nearest £
	Cash and bank balances at start of year					14,105	13,360
	Surplus / (deficit) shown on receipts and payments account					36,015	745
						-
						-
	Cash and bank balances at end of year (Agree balances with receipts and payments account(s)) Details	50,120	-	-	-	50,120	14,105
		-	-	- Fund to which	- asset belongs	-	- 0
						Market valuation to nearest £	Last year to nearest £
	M&G Charifund			Unrest	ricted	6,113	6,461
	Henderson SterlingBond Unit Trust			Unrest	ricted	3,217	3,592



	Details		Fund to which	asset belongs	Total Cost (if available) to nearest £	9,330	10,053
						Current value (if available) to nearest £	Last year to nearest £
	Dwellinghouse		Unres	tricted	267,000	400,000	400,000








	Details			Total Fund to which l	267,000	400,000	400,000
					iability relates	Amount due to nearest £	Last year to nearest £





	Details			Fund to which l	Total iability relates	-	-
						Amount due (estimate) to nearest £	Last year to nearest £



	Signature			Print Name	Total	-	-
							Date of approval

SC011081 OSCR Accounts to 10 June 2023 / Statement of balances

December 2007

APPENDIX 2

Govan Stewart Trust

SC011081

Section C Notes to the Accounts

C1 Nature and purpose of funds (may be stated on analysis of funds worksheets)

Type of activity or project supported	Type of activity or project supported	Number of grants made £	Number of grants made £





		Total	-

If no remuneration was paid during the period to any charity trustee or person connected to a trustee cross this box (otherwise complete section 3b)			x
Authority under which paid			£






If no expenses were paid to any charity trustee during the period then cross (otherwise complete section 4b)		this box	X
	Nature of transaction	Number of trustees	£





Nature of relationship		Transaction amount (£)	Balance outstanding at period end (£)

C2 Grants

C3a Trustee remuneration

C3b Trustee remuneration - details

C4a Trustee expenses

C4b Trustee expenses - details

C5 Transactions with trustees and connected persons

C6 Other information

SC011081 OSCR Accounts to 10 June 2023 / Notes

December 2007

APPENDIX 2

Govan Stewart Trust

SC011081

Additional analysis (1)

Analysis of receipts and payments

1 Donations

1 Donations
	Unrestricted funds to nearest £	Restricted funds to nearest £	Expendable endowment funds to nearest £	Permanent endowment funds to nearest £	Total current period to nearest £	Total last period to nearest £
					-
					-
					-
					-
Total	-	-	-	-	-	-
	reference	-	-	-	reference	-

2 Grants

2 Grants
	Unrestricted funds to nearest £	Restricted funds to nearest £			Total current period to nearest £	Total last period to nearest £
					-
					-
					-
					-
Total 3 Gross receipts from other charitable activities	-	-			-	-
	- Unrestricted funds to nearest £	- Restricted funds to nearest £	Expendable endowment funds to nearest £	Permanent endowment funds to nearest £	- Total current period to nearest £	- Total last period to nearest £
Rent from dwellinghouse	2,700				2,700	2,700
Investment income	369				369	369
Bank Interest					-	0
Income J Hodge					-	-




Total	3,069	-	-	-	3,069	3,070
		-	-	-

4 Payments relating directly to charitable activities

	Unrestricted funds to nearest £	Restricted funds to nearest £	Expendable endowment funds to nearest £	Permanent endowment funds to nearest £	Total current period to nearest £	Total last period to nearest £
Household insurance premium					-	365
PHD Plumbing inspection work					-	-
SmD Electrical					-	-
John Hodge					-	-
John Mathews					-	279
	-				-	-
	-				-	-
	-				-	-
					-	-
					-	-
Total	-	-	-	-	-	644
	reference error	-	-	-	reference error	reference error

SC011081 OSCR Accounts to 10 June 2023Additional notes (1)

December 2007

APPENDIX 2

SC011081

Additional analysis (2)

Additional analysis (2)
Receipts 5 Breakdown of unrestricted funds	Unrestricted fund 1 - enter name of fund below	Unrestricted fund 2 - enter name of fund below	Unrestricted fund 3 - enter name of fund below	Unrestricted fund 4 - enter name of fund below	Total unrestricted funds	Total unrestricted funds last period
Donations	35,000				35,000	-
Legacies	-				-
Grants	-				-
Receipts from fundraisingactivities	-				-
Gross tradingreceipts	-				-
Income from Investments other than Land and Buildings	450				450	369
Rents from land & buildings	2,700				2,700	2,700
Gross receipts from other charitable activities					-	0
*Sub total* Receipts from asset & investment sales	38,150	-	-	-	38,150	3,069

Proceeds from sale of fixed assets	-				-
Proceeds from sale of investments	-				-
*Sub total* *Total receipts* Payments	-	-	-	-	-	-
	38,150	-	-	-	38,150	3,069

Expenses for fundraisingactivities	-				-
Gross tradingpayments	-				-
Investment management costs	-				-
Payments relatingdirectlyto charitable activities	454				454	644
Grants and donations	-				-
Governance costs:	-				-
Audit / independent examination	-				-
Preparation of annual accounts					-
Legal costs	1,680				1,680	1,680
	-				-
	-				-
*Sub total* Payments relating to asset and investment movements	2,134	-	-	-	2,134	2,324

Purchases of fixed assets					-
Purchase of investments					-
*Sub total* *Total payments* *Net receipts / (payments)* Transfers to / (from) funds *Surplus / (deficit) for year*	-	-	-	-	-	-
					-
	2,134	-	-	-	2,134	2,324

	36,015	-	-	-	36,015	745

					-

	36,015	-	-	-	36,015	745

Nature andpurpose of funds

SC011081 OSCR Accounts to 10 June 2023Additional notes (2)

December 2007

APPENDIX 2

Govan Stewart Trust

SC011081

Additional analysis (3)

6 Breakdown of restricted funds

6 Breakdown of restricted funds
Receipts	Restricted fund 1 - enter name of fund below	Restricted fund 2 - enter name of fund below	Restricted fund 3 - enter name of fund below	Restricted fund 4 - enter name of fund below	Total restricted funds	Total restricted funds last period
Donations					-
Legacies					-
Grants					-
Receipts from fundraisingactivities					-
Gross tradingreceipts					-
Income from investments other than land and buildings					-
Rents from land & buildings					-
Gross receipts from other charitable activities					-
*Sub total* Receipts from asset & investment sales	-	-	-	-	-	-
					-
Proceeds from sale of fixed assets					-
Proceeds from sale of investments					-
*Sub total* *Total receipts* Payments	-	-	-	-	-	-
	-	-	-	-	-	-
					-
Expenses for fundraising activities					-
Gross tradingpayments					-
Investment management costs					-
Payments relating directly to charitable activities					-
Grants and donations					-
Governance costs:					-
Audit / independent examination					-
Preparation of annual accounts					-
Legal costs					-
					-
					-
*Sub total* Payments relating to asset and investment movements	-	-	-	-	-	-
					-
Purchases of fixed assets					-
Purchase of investments					-
*Sub total* *Total payments* *Net receipts / (payments)* Transfers to / (from) funds *Surplus / (deficit) for year*	-	-	-	-	-	-
					-
	-	-	-	-	-	-
					-
	-	-	-	-	-	-

					-

	-	-	-	-	-	-
					-
Nature andpurpose of funds

SC011081 OSCR Accounts to 10 June 2023Additional notes (3)

December 2007

AppENx J OSCR Ind•p•nd•nt •x•mln•rf• rnport on th• accounl •11212Q