JOHN WALLACE TRUST SCHEME CHARITY NUMBER SC011640 Trustees. Annual Report Year ended 31 March 2025 The trustees present their report together with the financial statements and the independent examiner's report for the year ended 31 March 2025. Reference & Admlnlstratlve Inforniatlon Charlty Name John Wallace Trust Charlty Number SC011640 Address Financial Services, Carruthers House, English Street, Dumfries DG12HP Current Trustees Karen Carruthers Richa rd Brodie Dougie Campbell Ben Dashper Lynne Davis JIM H Demp5ter Linda Dorward Andy Ferguson Chrissie Hill Davld Inglis George Jamieson Maureen Johnstone Tracey Little Gail Macgregor Jackie Mccamon Willie Scobie Paula Stevenson Davle Stitt Carolyne Wilson Andrew S Wood John Young stuart Clement Julie Irving Greg Black Liza Vinnie Trustees Remuneratlon and Expenses The trustees did not receive any remuneration for their services and were not reimbursed for any expenditure during the year. JOHN WALLACE TRUST SCHEME CHARITY NUMBER SC011640 Trustees Annual Report - continued Year ended 31 March 2025 Structure Governance & Management Constltutlon The charity was set up by John Wallace through a Deed of Endowment dated 301h April 1723. Appointment of Trustees Trustees consist of the Education Committee of Dumfries & Galloway Council who serve a term that coincides with the life of the elected council of Dumfries & Galloway. Management The monies were left in trust to be administered by the local council and following reorganisation representatives of Durnfries & Galloway Council deal with the day lo day management of the Trust. Oblectlves & Actlvltles Charltable purposes The purpose of the trust is the advancement of education. Actlvltles Grants are paid to schools and scholars in the electoral wards of Kirkland, Kello, Crichton, Douglas, Morton and that part of Dalswinton lying outside the parish of Dumfries, all in the government area of Nithsdale as established by the Local Government {Scotlandl Act 1973 (al and any subsequent extension of the wards, Achlevem8nts & Perforniance During the year grants amounting to £5,494 were paid out in accordance with the Deed of Endowment's objectives. Flnanclal Revlew The trust is dependent on investment income and di5tribute5 this in full as grants in accordance with the Deed of Endowment. The trustees therefore da not consider il appropriate to set a reserves policy. Plans for Future Periods The Trust has operated in accordance with the Trust deed and there are no plans lo change its operation. The report was approved on 8 November 2024. Signed Name. Tiogtsy Li rrLé Chairperson - Dumfrie5 & Galloway Education Committee JOHN WALLACE TRUST SCHEME CHARITY NUMBER SC011640 STATEMENT OF RECEIPTS AND PAYMENTS Year ended 31 March 2025 2025 2024 RECEIPTS Investment Income 9,497 10,555 PAYMENTS Grants made Governance Costs 15,494) 448 (5,9341 448 {5,9421 (6,3821 SURPLUS FOR THE YEAR 3,555 4,173 STATEMENT OF BALANCES 2025 2024 Cash Funds Al start of year SurpluslDeficit for year 30,417 3,555 26,245 4,173 At end ofyear 33,973 30,417 Market Valuation Market valuatlon Investments 288,977 294 948 Llabllltles - Independent Examiners Report 576 234 Signed Name. TfjACÈY UTFL& Chairperson - Dumfries & Galloway Education Committee Date: JOHN WALLACE TRUST SCHEME CHARITY NUMBER SC011640 NOTES TO THE ACCOUNTS Year ended 31 March 2025 1. Basis of Accountlng These accounts have been prepared on the Receipts & Payments basis in accordance with the Charities & Trustee Investment (Scollandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 (as amended). 2. Nature and Purpose of Funds The trust is an endowment fund that may only be used to support the making of educational awards. 3. Grants Made 2025 2024 School Travel Grants Supplementary Bursaries School Prizes 3,064 2,030 400 2,741 2,793 400 5,494 5,934 Inde endent Examiner's Re ort to the Trustees of John WallAee Trust Scheme Independent examiner's report to the trustees of John Wallace Trust Seheme I report to the charity trustees on my examinalioll of the accounts of John Wallace Trust Scheme (the Trust) for the year ended 31 st March 2025. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination E have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the A¢t. Independent ex•miner'$ Statement I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giving me Cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act- or the accounts do not accord with those records; or the accounts do not ¢omply with the applicable requirements concerning the form and conlent of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter ¢onsidered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr Rodney Palmer BA CA Farries Kirk & Mcvean Dumfries Enterprise Park Heaihhall Dumfries DUMFRIESSHIRE DGI 3SJ 5th March 2026