2025-04-05-accounts

THE EDA LADY JARDINE CHARITABLE TRUST

Report of the Trustees and Statement of Accounts For the year ended 5 April 2025

SCOTTISH CHARITY NUMBER _$C011599

THE EDA LADY JARDINE CHARITABLE TRUST For the year ended 5 April 2025

Report of the Trustees and Statement of Accounts

• The Trustees have pleasure in submitting their Annual Report for the year ended 5 April 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Trust Deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their account in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published 16 July 2014 (as amended by Update Bulletin 1 issued on 2 February 2016 and Update Bulletin 2 issued on 5 October 2018). Objectives and activities The objectives of the Trust are to expend the Trust Fund from time to time and whether Income or Capital, for the benefit of, as follows:1 the Heriot-Watt University (formerly The Heriot - Watt College) for the furtherance of research and knowledge in the fields of brewing and industrial fermentation and biochemistry.

• 2 The Faculty of Medicine of the University of Edinburgh for research purposes in Medicine but with particular reference to Cancer research.

• 3 The Edinburgh Festival of Music and Drama and any Society or Organisation engaged in furthering the objects of the said Festival.

• 4 The National Trust for Scotland for Places of Historic interest or Natural Beauty. > Any other Charity or Charities, Charitable Organisations or Objects situated in or operating in Scotland and applicable to Scotland at the discretion of the Trustees. Any such charitable body or organisation must be accepted by the Board of the HM Revenue & Customs or other competent authority as a charity for the purposes of taxation.

Grant making policy

The Trustees meet each year to determine the distributions of the net income from fixed asset investments. In addition to the charitable organisations listed in 1 to 4 above the Trustees select a different category of charitable organisation to support in each year e.g. (Year to 5 April 2025) the Arts. Charities which meet the category for that year should submit their application to Anderson Strathern LLP for review at the meeting of Trustees.

.

A review of the achievements and performance

The objectives of the Charity during the year were to support, in addition to the named charities in the trust deed, the category of the Arts. The Trustees fulfilled these objectives by making donations as disclosed in note 6 of the accounts. As the investment portfolio had performed so well and the need for funding within the sector the Trustees agreed to make increased donations from capital. The donations were agreed at the annual Trustees meeting held in November 2024.

Financial review

The financial position of the Trust at 5 April 2025 is as disclosed in the Balance Sheet, on page 5. The Statement of Financial Activities, on page 6, shows that the revenue income was insufficient to meet the revenue expenditure. The deficit on revenue and the capital expenditure were met from reserves. The Trustees agreed to release capital from the Trust Fund to address the deficit.

Investment policy and performance

The Trustees seek advice from the appointed investment managers to invest the Trust's funds based on a medium risk strategy, balancing income and growth over the medium to long term. The structure of the portfolio during the year has been retained in line with this strategy. The market value at 5 April 2025 was £2,100,113 (2024: £2,209,785),

Risk management

The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finance of the Trust, and are satisfied that the systems are in place to mitigate their exposure to the major risks. The Trustees consider the major risks to be fluctuations in the value of its investment portfolio and investment returns. The risks are mitigated by the use of external secretaries to ensure the organisation structure is appropriate and the appointment of professional investment managers to manage the investment portfolio. The Trustees currently have a wide range of skills and seek advice where necessary.

1

THE EDA LADY JARDINE CHARITABLE TRUST For the year ended 5 April 2025 Report of the Trustees cont. Reserves policy The Trustees aim to distribute the net income earned each year from fixed asset investments and are prepared to use capital, as determined by the trust deed, in exceptional circumstances. The total funds held at the year end were £2,130,692 (2024: £2,256,375). Going Concern The financial statements have been prepared on a going concern basis. The Trustees have assessed the Trust's ability to continue as a going concern and have reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future.

Plans for the future The Trustees wish to continue to build the capital of the fund to enable them to support from time to time both the listed charities detailed in 1 - 4, the objects and activities on page 1, and to allow them to have sufficient net income to meet the various appeals received in each of the chosen categories.

Structure, governance and management

The Trust was constituted by the Settlement of Lady Eda Georgina May Younger of Jardine of Luce, Annan, Dumfriesshire on Twenty Third February Nineteen Hundred and Sixty and presented for registration in the Books of the Lords of Council and Session on Twenty Second April Nineteen Hundred and Sixty. The number of Trustees shall be not less than three at any time. With the exception ofPe was a partner and remained a consultant of Anderson Strathern LLP, until her death, ail Trustees are family members. Any decisions relating to assumptions and resignations of Trustees are ratified at the annual meeting in October/November each year. Trustees are asked to provide a brief paper outlining their skills and experience. Training needs are assessed and met by the serving Trustees. Decisions are made at the annual meeting which is attended by all or a majority of the Trustees. Investment advice is provided by Brewin Dolphin, investment brokers, who then undertake the transactions relating to the investment portfolio. The portfolio is managed on a balanced return medium risk profile. A sub committee is delegated to deal with all investment matters and is agreed by way of a signed minute. Reference and administrative information Trustees . crrerrrenll as CT Chartered Accountants and Independent Examiners . 61 Dublin Street, Edinburgh, EH3 6NL . Investment Managers Brewin Dolphin Sixth144 MorrisonFloor, AtriaStreetOne . Edinburgh EH3 8EX 2

THE EDA LADY JARDINE CHARITABLE TRUST For the year ended 5 April 2025 Report of the Trustees Cont.

_

Statement of Trustees‘ Responsibilities

The charity trustees are responsible for preparing the Trustees' Report and the Accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. in preparing these accounts, the trustees are required to:

• select suitable accounting policies and then apply them consistently

• ~ observe the methods and principles in the Charities Statement of Recommended Practice - make judgements and estimates that are reasonable and prudent

• ~ state whether applicable accounting standards have been followed, subject to any 4

• ~ preparedeparturesthe disclosedaccounts and on a explained going concernin the basis accountsunless it is inappropriate- to presume that the . charity wil! continue in operation.

The Trustees are responsibie for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution. Dossy ee 7 poe ete oe The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps — for the prevention and detection of fraud and other irregularities. , oe ao an

Approved by the trustees on eS i) 2025 and signed on their behaif by: oe

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EDA LADY JARDINE CHARITABLE TRUST FOR THE YEAR ENDED 5 APRIL 2025

| report on the accounts of the charity for the year ended 5 April 2025 which are set out on pages 5 to 12.

This report is made to the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken to enable me to report my opinion as set out below and for no other purpose. To the tuliest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and the trustees, as a body, for my work or for this report.

Respective responsibilities of trustees and independent 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 (the Act) and the Charities Accounts (Scotland) Regulations 2006 (as amended} (the Regulations). The charity trustees consider that the audit requirement of Regulation 10{1)(a) to (c) of the 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 examiner's statement

My examination is carried out in accordance with Regulation 11 of the Regulations. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. !t also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures expressundertaken an auditdo notopinionprovideonailthe the view evidencegiven thatby the wouldaccounts.be required in an audit, and consequently! do not

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 materia! respect the requirements: o to keep accounting records in accordance with Section 44(1){a} of the Act and Regulation 4 of the Regulations, and

© to prepare accounts which accord with the accounting records and comply with Regulation 8 of the Regulations

have not been met; or

1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of

Chiene + Tait LLP trading as CT Chartered Accountants and Independent Examiners 61 Dublin Street , Edinburgh EH36NL

18 December 2025

4

,

,

,

|

.

.

THE EDA LADY JARDINE CHARITABLE TRUST Report of the Trustees and Statement of Accounts Balance Sheet

As at 5 April 2025

				Fixed assets:		- Notes	- Notes	2025 £		2624 £
.				investments at market value		8		2,100,113		2,209,785
				Current assets:
				Cash at bank		9		$0,647		64,870
				c				50,647		64,870
				Current liabilities				OG		ms
				Amounts falling due within	one	year: .		.
				_ Creditors	,	10		(20,068)		{18,280}
				- ‘Netcurrentassets	.		oo	30,579		46,590
				)
				Net assets				2,130,692		2,256,375
	_			Thefundsofthecharity		So		a		nee	.
		.		‘Capital Fund
				Asat5 April2024 (Deficit) foryear _ Investment gains/(losses)		oe	;	2,236,590 (17,251) (93,677)		2,066,130 (24,986) 195,446
				. Capital as at 5 April2025		11		2,125,662		2,236,590
				~		.
				Revenue Fund
				Asat5 April 2024 (Deficit) foryear				19,785 (14,755)		20,848 (1,063)
				. Revenueas at 5April 2025		se		5,030		19,785
		.	’	TOTALCHARITYFUNDS		11	2,130,692 ————eeeeeee		2,256,375 SS
				Allfunds are unrestricted
				aa—

The notes on pages 7 to 12 form part of these accounts.

,

.

.

5

4 <

THE EDA LADY JARDINE CHARITABLE TRUST

Report of the Trustees and Statement of Accounts For the Year ended 5 April 2025 Statement of Financial Activities

==> picture [442 x 269] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Notes|2025|2025|2025|2024|2024|2024| |£|£|£|£|£|£| |Income|Capital|Revenue|Total|Capital|Revenue|Total| |TotalInvestment"|income|3|tet-|53,116|$3,116|-|51,027IEE|L02751,027| |income|-|53,116|$3,116|-|51,027|51,027| |i|ne DIET|51,027| |Expenditure|on:| |Raising funds|4|14,106|-|14,106|12,933|-|12,933| |Cost of charitable activities|5|3,145|67,872|71,016|12,053|52,090|64,143| |Total|eo| |expenditure|ttt17,251|67,871|85,122te|24,986ee|EVI52,090|77,07677,076| |Net|(expenditure}/income|and|net movement| |in funds before gains and losses on investments|(17,251)|(14,755)|(32,006)|(24,986)|(1,063)|{26,049}| |Transfer between|funds|-|-|~|-|-|-| |Net gain/{loss) on investments|8|(93,677}|-|(93,677)|195,446|-|195,446| |i|et|EEG| |Net movement in funds|{110,928}|(14,755}|(125,683)|170,460|(1,063)|169,397| |Total funds brought forward|2,236,590|19,785|2,256,375|2,066,130|20,848|2,086,978| |Total|—| |funds carried forward|2,125,662|5,030|2,130,692|2,236,590|19,785|2,256,375|

----- End of picture text -----

All activities relate to continuing operations. All funds are unrestricted.

The notes on pages 7 to 12 form part of these accounts.

6

4 &

|

THE EDA LADY JARDINE CHARITABLE TRUST Report of the Trustees and Statement of Accounts For the Year ended 5 April 2025 Notes to the Accounts

1 Accounting policies

{a) Basis of preparation and assessment of going concern

The accounts have been prepared under the historical cost convention, modified to include investments at fair value, with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts 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 United Kingdom and Republic of Ireland (FRS 102) issued on 16 July 2014, as amended by Update Bulletin issued 2 February and update Bulletin 2 issued 5 October 2018, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulation 2006 (as amended). The accounts have been prepared in £ sterling.

The Trust constitutes a public benefit entity as defined by FRS 102.

:

The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. The most significant areas of adjustment and key assumptions would be from multi-year grant commitments, the Trustees only do this in exceptional circumstances. .[With][respect][to.][the][next] reporting period, 2024-25, the most significant areas of uncertainty that effect the carrying value of[assets] held by the Trust are the level of investment return and the performance of investment markets (see the investment policy and performance and risk management sections of the Trustees' annual report for more information). :

(b) Funds structure

.

Unrestricted revenue funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include capital funds which the Trustees, at their discretion, are prepared to use in exceptional circumstances.

(c) Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. . . Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been deciared and notification has been received of the dividend due. (d) -Expenditure recognition : Liabilities are recognised as expenditure as soon as there is legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Pe

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (e).

7

‘ =

THE EDA LADY JARDINE CHARITABLE TRUST Report of the Trustees and Statement of Accounts For the Year ended 5 April 2025 Notes to the Accounts Cont.

(d) Expediture recognition (Cont'd)

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaining to that grant are outside of the control of the Trust.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount payable.

{e) Allocation of support and governance costs

Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to Statutory external scrutiny and legal fees together with an apportionment of overhead and support costs.

(f} Cost of raising funds

The cost of raising funds consist of investment management costs.

(g) Charitable activities

Costs of charitable activities include grants made, governance costs and support cost as shown in note 5.

(h) Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

(i) Realised gains and losses

Ali gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

{j) Financial instruments

The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

8

THE EDA LADY JARDINE CHARITABLE TRUST Report of the Trustees and Statement of Accounts For the Year ended 5 April 2025 Notes to the Accounts Cont.

;

2 Related party transactions and key management personnel expenses and remuneration

The Trustees, who are deemed to be the key management personnel, all give freely their time and expertise without any form of remuneration or other benefit in cash or kind. Expenses paid to the trustees in the year totalled nil (2024: £nil).

3	-Investment income	.
						2025	2024
						£	£	.
	Dividendsandfixed interest securities Intereston cashdeposits					50,945 2,171	49,194 1,833
4	Cost ofraisingfunds
						2025	2024
	Investmentmanagementfees *					£ £ 14,106 12,933 a
5	Charitable activities
			Capital 2025		Revenue 2025	Total 2025	Total 2024
	Grantsanddonations (seenote	note 6)	£	-	£ 49,600	£ 49,600	£ 34,800
	Governance
	Trustee expensesandroom hire Independentexaminer'sremuneration			- 869	1,218 870	1,218 1,739	1,789 1,767
	Support costs			869	2,088	2,957	3,556
	Secretaries		2,276		16,183	18,459	25,786

5 Charitable activities

9

THE EDA LADY JARDINE CHARITABLE TRUST Report of the Trustees and Statement of Accounts For the Year ended 5 April 2025 Notes to the Accounts Cont.

6	Grantsanddonations	2025 2024
		£ £
	Donationsapproved duringthe yearwere asfollows:
	AnaphylaxisCampaign Baltic StreetAdventure Playground BirseCommunityTrust Braehead, Broomridge and DistrictCDT Development Trust Butterfly Trust Children's MusicFoundation in Scotland Cumbernauld Theatre DrBell's FamilyCentre ESPA Impact Arts LoveMusic Maggie's Music ALL National TrustforScotland Prince& Princess ofWales Hospice SandpiperTrust Scottish Seabird Centre ScottishYouhtDance Seawilding Sistema Scotland TeapotTrust WestSussexCountyScout Council	3,000 5,000 - 3,000 - 800 - 2,000 - 2,000 - 1,000 5,000 3,000 1,500 - 1,500 - - 2,000 1,500 - 1,500 - 1,500 - 2,000 11,600 - 1,500 - 3,000 5,000 - 3,000 1,500 - - 5,000 1,500 - 3,000 3,000 10,000 -
		49,600 34,8007 ret

7 Independent examiner's remuneration

The independent examiner's remuneration consisted a fee of £1,739 (2024: £1,767).

10

f e

.

THE EDA LADY JARDINE CHARITABLE TRUST Report of the Trustees and Statement of Accounts For the Year ended 5 April 2025 Notes to the Accounts Cont.

8 Fixed asset investments

==> picture [444 x 152] intentionally omitted <==

----- Start of picture text -----
Movement in fixed asset listed investments oo
2025 2024
Market £ £
Add: value brought forward at 6 April 2024 ' 2,209,785 2,017,055
additions to investments at cost 478,683 935,050
Disposal proceeds (494,678) (937,766)
Add net gain/(losses) on revaluation (93,677) 195,446
2,100,113 2,209,785
Net cash released from investments in the period was £15,995 (2024: £2,71 6).
Historical cost 1,956,653 1,873,853
st
----- End of picture text -----

All investments are carried at their fair value. Investments in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investments funds, unit trusts and open ended investment companies are at the bid price. The basis of fair. value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at their transaction value. :

The main risk to the Trust from financial instruments lies in the combination of uncertain investment markets and volatility in yield.

The Trust manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges.

9 Analysis of current assets

Cash at bank

2025	2024
£ 50,647	£ 64,870

11

THE EDA LADY JARDINE CHARITABLE TRUST Report of the Trustees and Statement of Accounts For the Year ended 5 April 2025 Notes to the Accounts Cont.

10 Analysis of current liabilities

Creditors under 1year
	2025	2024
AndersonStrathern LLPfees Independentexaminer'sremuneration	£ 18,370 1,698	£ 16,700 1,580
	20,068 18,280 ————————————————

All creditors in 2025 relate to unrestricted funds. There are no creditors over 1 year.

11 Analysis of assets between funds

Analysis of assets between fundsassets between fundsbetween fundsfunds		NetCurrent	Net
	Investments	Assets	Assets
Capitalfund Revenuefund	£ 2,100,113 -	£ 25,549 5,030	£ 2,125,662 5,030
	2,100,113 30,579 2,130,692 ———E————eE—Ee————————EEE

12