The Faculty of Advocates 1985 Charitable
Trust
Financial statements
31 October 2024
Charity Number SC012486

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Contents
Trustees and advisers
Trustees, annual report
ststement of Trustees, responsibilrties
Independent auditor's report lo the Trustees of The Faculty of Advocates 1985 Charitable Trust
statement of financial activities
Balan¢e sheet
ststement of cash flows
10
Notes

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Trustees and advisers
Trustses
Chalr of Trusts•$
Bursar
Offl¢•
The Signet Library
Parliament Square
Edinburgh
EH1 1RF
Inv••tm•nt advl••rn
Brooks MacDonald
80 Hanover Sl,
Edinburgh
EH2 1EL
8ankor8
Royal Bank of Scotland
36 Sl Andrew Sqvare
Edinburgh
EH2 2Y8
Sollcltorn
Messrs Lindsays.
19A Canning Street
Edinburgh
EH3 8HE
Auditor
Henderson Loggie LLP
Chartered A¢¢ountanl$
Level 5
10- 14 Waterloo Place
Edinburgh
EH1 3EG

The Fa￿thy ofAthocates 1985 Chantable Trust
Finanoal statements
31 C¢tcOer 2024
Trust•88' annual r•port
for th• y•ar •nd•d 31 Octob•r 2024
Str￿lU1*￿ gov•rn•nu •nd maThag•m•nL
The Faculty of Advccales 1985 Charrtatrle Trust created to succeed the Athocate$' wd0￿, and
Orphans, FurHI which was dissolved in 1985 by Private Act and in terms of wthich the sum of£500.000 and
fvrther Sums from the residue of that Fund were transferr￿ to the Twstees of the 1985 TNSL
The Trust is govemed by Ihe Deed of Twst sel up by
nd others dated 31
October, 1, 6 and 9 Novemter 1985. There are nine Trustees and %then vacancies arise new Trustees are
considered in h'ght of their sknlls and grade of seniority V￿1n the FaC￿ty at the lime and are appointed by
unanimous approval. The Trustees meet at beast three b.mes a year and the daytsday bu&nes8 of the
Trust is administered by a bursar who reports rngLlaty to the Chaimian.
In tho financial year this report covers. Lord Abemethy tendergd his re$ignation from his offic8 of Trustee
at the June 2024 Trnstee meeting. This was recorded in a Deed of Resignation dated 28 June 2024.
Trustee5 expressed regret at Lord Abemethy's i*parture and voKed their gratitude for his work throughout
Trustee lem.
The appointed Bursar,
also t
his offi￿ term in Juty.
sub8oquenty app<Hnled
ursar In
024.
ake$ on gener4 adminis
ra
or s responsi
onbe
Scciety from the forn￿1 lead administrator, who moved on from the Society in February
2024.
is responyible for the management of the Society's charitie5 portlolio, vthich indudes
the 1985 TrusL An administration contra¢1 wlh the trading wbsidiary olthe WS Society Isignelco Limited)
Was approved by the Trustees in February 2024 and execuied accordir￿￿.
rmi
was
Rg¢ord¥ dlgbtb•allon
Follo￿n9 the 8ursar h4ndover, all hard flès held by the TnAt were d￿￿trad to the Slgnet Llbrary (the
principal office of the WS Souttyl and a dIg￿"Sa￿0Th Project has been carried out. vthKh remains ongoing
at the financial year's end. project invc4ved scanning of all annuitants. ¢•se reports and fles. lax
deductions lom)s and correspondence. Trust documents. Minute$, legal and financial tJo¢uments. as well
as general correspondence and regulatory materials. A ¢omythens￿e inventory has also been produc•d,
oudining the digita fokjers, $trLKlure and exh document ￿ntaIned therein.
Coutt• accounts clo•urn
Follo￿ng from the Bursar hantjover, 4 9May$' notk• was put In the Trust bank accounts hdd wlth
Coults bank. Trustees agreed lo ¢lose all Coutts bank accounts after drawing down any remaining Intere81
accrued and moving to the WS SLxiety RBS Client A¢¢ounL As at February 2024. the majorty of funds
hdd in Ihe Coutts bank accounts were Iranslerred lo the WS Society R8S Client accounL The remaining
fvnds were transferred In March 2025 and the accounts ￿Ere dosed.
Int•r••t R•gl•t•r and Prfvacy Notlc•
In February 2024, Trustees ag￿e￿ on the ¢reab"on of on Interest reglster. Thls wa$ produced by the WS
S¢xlety and &￿ul01ed xcordingty. together ￿ updated Dgd¥atiorn of Irrteresl forms.
A privacy notice wa5 also apwoved in Febnjary 2024 and circthled lo al Trust beneficiarie5. The prNacy
notice ouUines111 how the Trust ￿llects dats".121 what data is ¢olle¢ted".131 who has a￿t$S lo the
data,. and141 the rights one has in ¢onneclion wth their Per￿al dats being held and destroyed. Desprte
the Charity being low risk for dats trxea¢hes and haMng good risk mrtigalions in pkce, $l￿h as robust ¢lou¢J
$y$tgm protsctiw and insurance, it good practice to have a priva¢y nots'ce in Pla￿ lthgn collecting and
processing userf$ data, vthich mKJht In￿de the wocessing of sen$itNe per￿n11 data.
Risk management and inveslm•nt pdicy
The Trustees keep the Trust's activi￿$ under review and consider the financial p0s￿On of the Trust in
detail al each of their three regular meetmgs. They re¢eNe qLHrteth investment report$ from their
investment managers, Brt(*ks maCDona￿, who administer the portf￿￿ on a fijll discreb"onary basi$ except
to the extent that no investment Purchases ShO￿d ￿PreSent rn0￿ than 5% of the portfc4io.
In accordance with their Irwestment poS¢y, Tntstees Carrled out the triennial review of adv150rs In October
2024. vthi¢h i￿luded ¢on$ideralion of ahemative inveslment managers optKin$. After considering these,

The Fa￿thy ofAthocates 1985 Chantable Trust
Finanoal statements
31 C¢tcOer 2024
Trustee5 agreed to rppappoint Brooks M%donakl as ther invèslment rnanagers. Hèndergon Lo99K? LLP
tre also I￿pPoInted a$ audrtor.
ObJ•ctlv•s and a¢tlvltl•s
The primary purpose ofthe Tn￿1 is to pay orappty the free annualincome ofthe Trust Fund atthe disuetion
of the Trustees to or for the benefft of ￿dr￿￿, ￿doWerS, chldren or former dependents of deceased
members of Faculty by rea￿)￿ of poverty. indigence, illne55, disabitrty or age are in need of relief or
support. If in any year income 1$ kft over after the primary purpose has been seryed the Trustees have a
discrefjon lo pay over the balarKe tho benefft of any Imng members of Facutty by reason of
disabilty, illne$$ or age are pemBnenlfy in¢apaot*¥d from pra¢li¢e and by reason of their condition are in
need of relief or support. al¥0 for any $pou8e. ¢hld w ¢)tlw dependent of INing members who are in
need of relief or support.
Th• Truste•s arn empowered to as%st b•neficlaries of Ihe Trust in various way8. These indude w•ekty or
other periodical albwances {annU￿"e$). Ma￿"n9 grants and loans wth or without inleregt. incbJding payment
of grants fry Med￿al treatment and care, and payir¥J 8ub8cTiptson$ and maknn9 donations lo institutions
r¢sponsits4e for the care of beneficiaries.
Grnnt maklng
Annuities are Mnsidered annualy (unless othewse rnquesledl and r•cord•d in the annual Case repwts
and new ben•fi¢iari•s ar• discussed al ea¢h m•ets'ng and wa email in betswen. Referrals for potential new
annutsn¢s are mado by the Dgan of FacLIty and through tw$tee$. The Trust 1$ adverti￿d on the WS
Society'8 V•Ybsite and thè FacuNy'8 nth¥sletter.
Facdty of AdvO￿t•* applI￿110Th pr¢c•••
In October 2024, Trustees dI￿u98t￿ the possibilrty of inlmduclng a streamliied apF41calion fom) ft)r future
grant lunding requests coming from the Facuty of Advocates. one of th• Trust's beneficiaries. Th• draft
applicatKin form has b•¢n produ¢•d ond circulated blrt not approved. Tru$tee$ ag￿ed not to welcome any
further request from the Facu￿ as an applcant untl surplus fund8 have been adequately idenb'fied1o¢¢
more in the financ￿1 review sectlon bekmfl.
Achl•v•m•nt• and p•rforni•nc•
In the year to 31 October 2024 0 total of £111,673 net of tax 12023". £115.977) wa$ disbursed to 10
•nnurtants1£144,6l￿ including tax. 2023.. £149,221). Addth¢)ng1ty, seven gronls totallin9 £20,29512023.'
È18,5001 were paid lo individual beneftiaries. The Trustees are taknng steps to identfy more potential
recipients. The inveslmenl portfoho Increased In during the year 8$ markets reacted to war in Ukraine
and settled afttrthe Coronaviru8 pandemic. vlth the ¥a￿e of invesbnents al the y•ar end bdng £6,983,719
023.. £6,130,801).
FlnaTrclal r•vl•w and policy
The riet surp￿5 of the fvnd for the year ended 31 October 2024 £873,441 12023.. nel expenditure
£113,003) with £ 890,224 of this being re4ised and ￿reall9ed 9aln in the Investment portfolio12023'. Lo88
£70,425).
The unrestr￿¥￿ reserves oflhe Trust al 31 October 2024 totalled £732,207 {2023'. £711,684). balan
on the designated endowment fund for the Faculty of Advocates to use on suitable charitable projects al
the year end way £136,326 (2023.. £136.3261.
Th• Tru8tee8 consider the finanual positKin of the Trust to be salisfaclory and the Twst hc4ds SLrffi¢i•nt
funds to meet its forthcoming obligations. In recenl years and through careful inv8strnenl management, lo
ich the Trustegs are fulty ¢ommrtted. $urplu$8s havg enatled the Trustees to delivor greater a$$i*ance
lo 11$ beneficiaries and the policy remains lo strengthen ils Te5erves in so far as possit4e in thè Current
economic ch'mate and lo review on an annual basis opb'ons to distribute surplu5 incow* where appropriate
subject lo the Trugt Purposes.
In O¢tober 2024, Trustees noted a cons￿¢T?b1et Sum of retainedlsurp￿$ funds held by the investment
managers. Trustees discussed the possibilty to use thesè funds lo supp¢Jrt working athocales who are in
financial drfficulty. Trustees agreed to cary out a ¢Onstrtut￿Th arren¢Jment for this purp)se amending the
lems of the constitution referring lo the Trust beneficiaries. The o)nslitiJliMal update will be ratified by way
of a ￿$OlUtion relative to the aTrnndmenl, to be apwoved by the TnJ$tees. The resdub.cffj ha$ rp)t yet teen
pa$$ed at the lime of writi'ng of this rewL

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Trustees, annual ￿port Icontinuedl
for the year ended 31 October 2024
Plans for future periods
The Trustees wll continue lo adminislerthe Trust for the purF*)ses sel down in the Deed of Trust. Trustees
agreed lo review said Trust Oeed in the following financial year. lo ¢onsider widening the eligibility Criteria.
The Trust will continue to work wrth the Facvmy ol Advocates pastoral Ca￿ seryice lo ensuie active
advoG4les are provided emergency funding rf needed.
Trustees discussed new Trustees recruitment throughout the financial year, and in October 2024 agreed
to invite new colleagues lo join the board of Trustees. wth appointment thereofto be staggered throughout
2025.
Approval of th8 Trusts8s' roport
Al ihe time of approving Ihis report, the Trustees are aware of no relevant audit information of which the
trust's auditor is unaware and have taken all steps that they ought to have taken as a Iruslee in order lo
make themselves aware of any relevant audit informats.on and to estsblish that the trust's audrtor is aware
of that information.
Approved by the Trustees and signed on their behalf by=
llair of Tr1151ees

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Statement of Trustees, responsibilities
The Trustees are responsible for preparing the Trustees, Annual Report and the finanaal ststements in
accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charrties in Scolland reqtjires the Trustees to prepare financial statements for each
financial yearwhich give a trtje and lairview of the state of affairs of the charity and of its incoming resources
and application of resources of the charty for that period. In preparing these finanaal statements, the
Trustees are required to..
select suitsble accounting policyès and then apply them consistently..
observe the methods and principles of the Charrties SORP IFRS 102).,
make judgements and estimates that are reasonable and p(udenl'.
state whether applicable accounting standards have been lollowed, subject to any material
departures disdosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unless it is inappropriate lo presume
that the charty will continue in business.
The Trustees are responsible for keeping proper accounbng records Ihat discbse wlh reasonable accuracy
al any lime the financial positson of the charity and to enable Ihem to ensure that the financial statements
comply with the Charity and Trustee Investment (Scotlandl Act 2005. the Charities Accounts (Scotlandl
Regulations 2006 and the provisions of the trust deed. They are also responsible for safeguardin9 the
assets of the charity and hence for taking reasonable steps for the prevenbon and detection of fraud and
other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information
included on the charity's website. Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may drffer from legislalKJn in other jurisdictions.

Independent Auditorfs Report to the Trustees of The Faculty of Advocates
1985 Charitable Trust
Opinion
We have audhed the finarKial ￿al81y￿ts of T￿ Faculy of Athcates 1985 Chaiitat4e Trust (the 'charfty'l
for tho year ended 31 Octobèr 2024 ￿1¢￿ ¢{￿npriSe the Statemènt of Financial Ath'vitie$. the Balance
Sheet, the Statement of Cash Fbws and notes to the ffinanaal statements, induding a summary of
¥wJnifi¢ant a¢wunting poli¢ie$. The finan¢ial reporting frarre%wrk th* ha$ been applied in their preparat￿n
is applKat4e law and United Kingdom Accc¥Jnbng Standards, inchjding FRS 102 The Financial Reportwyg
Standard 8ppIic8ble in the UK and R&putsli of lrnland (Unrted Kingdom Generally Accepted Accounting
Practice).
In our ow'nion the financial statements..
give a true and fair of the state of the charity's affaKs as at 31 October 2024 and of ils incoming
resources and apF4icalion of resc*Jrces lor the year then ended,.
have been property prepared in •c￿rdance wrth Unrted Kingdom Generaltry Accepted kcounting
Practice". and
have been prepared in ac¢ordan¢¢ ￿th the requirements of t￿￿ Charitses and Tw$lee Investment
(Scoiland) Act 2005 and Regulation 8 of the Charrties Axounts (s￿tIand) Regulation$ 2006 las
amended)
B••l• ol oplnlon
corKluded our audit in a￿dan￿ ¥&ilh Inlomatiw41 Standards on Auditing (UK) IIW IUK)l and
applicable law. Our ￿spOnSIbl￿￿eS under those standards are fvrthèr describèd in the Audilorfg
T¢sponsibililies for the audit ol the financial statements section of reporL We are independent of Ihg
charity in accordance wth the ethical requirements that are Televant lo our aud(t of the financial statements
In the UK, induding the FRC'S Ethical Standard and the provislons avalat4e for small entltles, In the
rcumslan¢es set oul in note 1 to Ihe fin0ft￿al slalemenls, and we have fvlfilled our other ethical
responsibilities in accordance these requirements. We believe th41 Ihe audrt evidenGe V*? have
oblaintd is SLrfftcitnt and appropriate to prowde a ba￿3 for our opinM)rL
Conc￿•10n* rdatlng to gdng cO￿•M
In auditing the financial stalemenls. we have Co￿l￿de*) that the Tru$lee$' use of going concem bas18
of accounting in the preParat￿n ofthe financial statement¥ is appropriat
Based on the work V*t have perfonned, we have not identsfied arry material uncertainties relats'ng lo ever)ts
or ¢ondrtions that, individu811y or cdlethvety, may ¢88t 81gnific8nt doubl on the charity'8 abilrty to continue
as a going con¢em for o perknd olal ￿aSIt￿•fve rrthhs from lhthen the fin•rKHI stat•ment8 ar• authoris•d
for issue.
Our regponsiblities and the respmsibilties ol the Trustees Mryth respect to going Co￿eM •re described in
the relevant sections of this rewt.
Oth•r Inform￿￿On
The other information comprises Ihe information inckKled in the annual Teport, other than the financial
Statements and our audilorfs report thereon. The Trustees are re5ponsit4e for the other information
Contair￿d wthin the annual re￿rt. OUT ownion on the financial slalements doe5 not cover the other
infomation and do not express any fom of assurance condusion thereon. Our responsibilrty is to ￿ad
the other information and. in doing $0, wnsider w*￿ther the other infom)atvJn i¥ materialty in￿nSIstenI ¥￿th
the financial statements or our knowledge obtained in the course of the audit or otherwse appears to be
materially misstated. 11 we identfy such material inconsistenaes or apparent malerial misstatements, we
are required lo detemiine whether this gives rise to matsn.al misstalemenl in the financial statements
themselves. If. based on the ￿￿rk v* have perftrmed, * ￿ndUde that there 1$ a material misslatemenl
of this other infomation, wé are wuired to repcrt that facL
We have nothing to re￿t in this regard.

Independent Auditorfs Report to the Trustees of The Faculty of Advocates
1985 Charitable Trust (Continued)
PA*tt•r• ¢)n Twhleh IM r•qulr•d to r•port by •xc•ption
Wle have nothing lo report in respecl of the folNing matters wtefe the Charity A¢wJnts {Sc￿land)
RegulatKin$ 2006 las amended) requiw us to report to you rf, in our opinb)n.'
the information given in tho financial statèments i# inc4)nsi8tent in any rnaterial respect with thè
Trustees. report", or
proper ac¢ounty"ng re¢￿a$ have not been kept.
the financial Stslements are not in agreement the accounts.ng records and retums," or
we have not roceived all the Informat￿ and explanations require for our aud
R•*poMlbl1ltl￿ of Tru•t••#
As explained more fulty in the Slalemenl of Trustees. responsibilities the tnjslees are responsible for the
preparation of the financial slalemenls which give a true and lair view. and for such internal ¢ontrc4 as the
tru¥tee¥ delemine i¥ necessary to enable the preparation of financial statements that are free from maleriol
misstatement whether due to fraud or efror. In preparing the financial statement8, the Trustees are
T¢sponSi￿8 for assessing the charity's ablity lo conbnue a5 a going concem. discbsing, as applicabl8.
matters related lo going cOn￿M and using the going ￿nc*M basis of acC￿nIng unless Trustee$
Otther Intend lo ¢eas• oyratKins u have no reallsb'¢ afternalive but to do so.
Audltorf• mpoMlblltl•• for th• •udlt olth• financlal 8lat•mwrt*
We have been app￿nted as audrtor under seckn 44{1llcl ol the Chariti'es and Trustee Inveytmenl
(S￿land) Ad 2005 and report In accordance the Acl and relevant regulafjons made or having ?ffe¢l
th•r•und•r.
Our objectives are to obtain roajonable amuran￿ about t*hether tho financial statements as a ar?
free from material misstatement, w*￿ther due lo fraud or efror, and to issue an auditor's report that includes
our opinion. Reasonable astsurance li a h￿h level of assurarKe. but 1$ not 8 guarantee that an audit
conducted in a¢cor¢Jance ISAS IUK) wll aNway8 detecl a material mi$8tslement when it •xisls,
Mi$stalem•nts ¢an anse from frautj or error and are constrJered material rf. individually or in the aggregate,
they ¢oukJ rea8onat4y be exped911 lo Infven￿ the ec¢)nomt dg¢i$K)n$ QIU￿r8 laken on the ba$1$ ofthe¥e
financial statements
Extont to whlch th• audlt wa• consld•r•d capabl• of d•t•cting Irr•gularltl•s. Includlng fraud
Irregularities. induding fraud. are in$tan¢es of nor￿￿MplianCe wth laws and regulation$. We Oesfjn
procedures in lin• our r•sp)n8ibilitses. oulh'ned above, to ￿t￿t malerial mi$$tsl•menl8 in respect of
Irregularits'es, including frau(L The exlont lo vthich wr wocodure$ ar¢ capablg of detecting irrg9ulantie¥.
including fraud. is detailed bebK.
As part of our Flanning pioceYJ'.
We enquired of management the Systems and contro15 the ch￿ty has in p4ace, the #reas of the
financial st*ements that are mosty $usceptfole to the risk of irregularities and fraud. and whether
there wa$ any known, suspe¢ted or aleged fraud. Management infomed us that there were no
instances ol kntr•vn, sUSp￿ted or alleged fraud,"
We obtained an understanding ofthe legal and regulatory frame•vorks appl'cable to the TrusL Wg
delermined that th• fdlthwing were most rebvant.. OSCR requ1￿ments,. GDPR," and ¢omplan¢e
ith the Charities and TN8tee Inve8trn￿ts IS¢odand} Act 2005 aTrJ the Charitie8 Account8
Regulations 2006.
We conside￿d the in¢enli¥es and opportuni1￿$ that exisl in Ihe charity, In¢￿￿1ng the extent of
manageffent ￿a$, whi¢h present a polenlial for Ir￿Ul8r1tses and fraud to be perpetrated, and
tailored our risk assessment accorylingly., and
Using our knowledge of the charity, together the discussions held V*ilh management at the
planning stsge, we formed a ￿rKbj5￿n on Ihe ri$k of mi$$tslement due to irregulanlies in¢knding
fraud and ts**re¢J our procedures according lo th￿ risk assessmenL

Independent Auditorfs Report to the Trustees of The Faculty of Advocates
1985 Charitable Trust (Continued)
Audltoe* r•*pon*lbllii1￿ for th• auat of th• fin•ncl41 •t•t•m•nts (¢ontkn￿I
The key pro¢edures VM undertook to delect irregUlarth￿ including fraud du￿ng the course of the audh
irKluded'.
Inquiry of manag8ment abotrt any krw ty suspecled instsnces of no1￿compli•nQe wth laws and
regulations and fraud..
Revithmng minutes of board meetings:
Challenging assumptions and judgements made by managem￿1 in their Signrf￿ant accounting
e81imates. in part'cular fair vakje of investments.. and
Auditing the risk of managem&nt overTid• of ¢ontrol$, induding through t•sting journal •nlri•s and
other adjustmen15 for appropriateness.
ch￿ng to the inherent limitations of an audrt. there 18 an unavoidable risk that som• material misstatements
in the financial statOn￿ntS may not be deteclod, even though audit is properly planned and performgd
In accordance with the ISA5 IUKI. FN instance, the further removed nonwcompliance is from tho events
and transaction8 ￿fleCted In the financial slatemenls. the less Ikety the auditor is lo become aware of il or
to recognize the norrfompbvmce.
A fvrther d•Kription of our rgspon¥iknlrtK*S forth• audit oflhe ffinancial stat•ments is l¢xaled on th• Finan¢io1
Reporting Councifs web$rt• at
This descripb.on foms part
of our aLpJhor's reptht.
of our rnport
Th18 report is made solety lo thé trustee8, 88 4 body, in accordance Regulation 10 of the ChaTibè8
Account3 (Scotlandl Re9￿atsOn8 20C6. Our audrt vAxk has been undertaken $0 that might state to the
trustees those matters are required to state lo them in an ￿lJrtor'5 report and for no other purpose. To
the fullest exlent permitted by law, vn do not accept or assume re8pgn$ibihty to anyone other than Ihe
arity and tts tru5ts0s a• a tr￿)dY for our audit vmrk. for th1¥ roport. or for thg opinlons havg formed.
Hgnd•r¥oTh Logglg LLP
hartored Accounlanls
SlalutoryAuditor
(Eligible lo act a5 an 8udrt0r￿ lenns olsecti1￿ 1212 ofihe CompanAe$ Act 2006)
Level S,
10- 14 Waterl)0 P*e
Edinburgh
EH1 3EG
31107125

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
ststement of financial activities
for the year ended 31 Octobor2024
2024
2024
Income
Capilal
IUnre5trictsdl (Endo￿nentl
2024
Total
2023
2023
Income
Capital
IUnr2strictedllEndobTrThentl
2023
Totsl
Note
Income anil end¢)wments from:
Investments
217.358
217,358
223,073
223,073
Totsl In¢om¢
217.368
217,3S8
223.073
223.073
Expendlture on:
Raising funds
Inveslrnent manaprntnt costs
137,3061 137,X161
134,4971 134.4971
Charitable eclivilies
1196,8351
1196,8351 1195,1541 136,OCK)1 1231.1541
1196.8351
137,3061 1234,1411 1195.1541 170,4971 1265,6511
Totsl gxpendlturg
Net gain51llos¥e$l on
inve51menlS
890.224
890.224
170,4251 170.4251
N•t Incom•ll•xp•ndltur•l
20.623
862,918
873,441
27,919 140,9221 1113.0031
Transfers beNveen lundg
Net moverrent in frJnd5
20.623
862,918 873,441
27.919 1140,9221 1113.0031
Total funds brought forward
711,684
S￿90.924 8.802.608
683,765 fj.031.846 6.715.011
Total lund8 earrled foTh¥aYd
732,207
6.743,842 7A76,049
711,S84 5,890,924 6.602,608
The incoming resources and resulting net in￿ming resources for the current and previous year arise from
continuing operations.

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Balance sheet
As at 31 October 2024
Ak)te
2024
2024
2023
2023
Flxed assets
Investrnents
6,983,719
6,130,801
Current assets
Debtors
Cash at bank and in hand
112.89S
437.709
102.295
430.836
660,604
533.131
Curr•nt Ilatsllltlos
c￿ditors.. amounts falling due wthin one year
158,2741
161,3241
Net ¢urTrnt a•••ts
492.330
471,807
Net ¥•89ts
7A76,049
6.602,608
Funds
Endowrenl- general funds
Endownenl- éesignaled lund8
Llnr•strict•d funds
6.807,S16
136,326
732,207
5,754,598
136,326
711,684
Total lund8
7.476,049
6.602,608
Approved and aulhorised for issue by the Trustees and sKJned on their behalf by".
hc?ir o
Trustee5
io

The Fa￿thy ofAthocates 1985 Chantable Trust
Finanoal statements
31 C¢tcOer 2024
Statement of cash flows
lor tho ￿ar •ndgd31 (ktober2024
2024
2024
2023
2023
Ca•h Ilow4 from op•rntln¥ •¢lMtI••
Net Incornellexpenditurel
Less.. Igain8ylosees on InveStr￿nts
'. investment incwt
I lincrea¥el in d¢blryJ
IncMa* in er8ditor#
873.441
1890.2241
1217.3581
110.6CQI
13,0501
1113.t>)31
70.425
1215.7561
4,292
12,3C6
C••h lu••d IDVpvovkl•d by op•r•llng 4¢tlvlll••
1247,n11
1241,7361
Ca•h Ilovrd froffl Invo*llng •Ctbvltlo*
Purchasè of investrn¢nts
Oi8POBal of inve8knwnty
Investrn•nl InMm•
217.358
215,756
1620,7891
675,785
C￿h provld•d by In￿11￿9 •etlvltl••
421.IS1
270,752
In¢r•*••lld•cr•*••l In ea•h •nd
•gulvil•nt• In th• y••f
173.
29,016
Ca•h and Ga•h •qulv*nl• at th• *lnnlng 01
th• ymr
618.700
487,684
Tot•1 ca•h and c••h •qulvthnts •1 th• •nd olth•
y￿r
•90.060
516,700
c￿fv •nd rA•h •qulvahn¢• cornprfw:
Cash at bank
Caih h•kl in irtY••trMn
437,709
252.361
430,836
85,864
190.060
516,700
li

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Notes
(forming part of the financial statements)
Accounting policies
{al Basis of preparation
The financial statements have been prepared under the historical cost convention and in
accordance with the Accounting and Reporbng by Charities,. Statement of Recommended
Practice applicable to charities preparing their accounts in a¢¢ordance with the Financial
Reporting Stsndard applicable in the UK and the Republic of Ireland IFRS1021. The fi'nancial
ststements are prepared in £ Sterling which is the functional currency of the charity
In common wth many other organisalions of our srze and nature, we use our auditor to assist
th the preparation ol the financial stslements in accordance ￿th the requirements of FRC
Ethical Stsndards"Provision$ Availab￿ for Smaller Ents'ts'e$'.
The finan¢ial statements are prepared on a going concem basi$. The Tw$lee$ believe this is
appropriate as even recognising the volatility in Investment valuations, the income generated
ha5 remained at a level that 15 forecast to meet ants"cipated charitable expenditure for a period
that extends beyond 12 months from the approval of the financial stslemenls.
{bl E$tsbll$hm•nt of Trust
The Faculty of Advocates 1985 Charitable Trust was established wth effect from 30 October
1985 primarily to provide benefits & support lo wdows, widower5, children or former
dependants of deceased members of the Faculty of Advocates. The Tru51 is defined as
public benefit enlrty under FRS 102.
{cl In¢om•
Investment income 1$ a￿￿nted for %then re¢eivable. Bank intere$¢ 1$ acwunted for on an
accruals basis.
Idl Exp•ndlturn
Expen￿rtU￿ is recognised on an accruals basis as a liability is incurred which is as sotsn as
there is a legal or conslru¢ts've obligation commrtting the ¢harity lo the expenditure.
Costs of raising funds comprise the investment manager's fee.
Charrtable expenditure comprises those costs incurred by the charity in the delivery of ils
activities and services for rts beneficianes. It also Includes govemance costs. which are the
costs ol meeb'ng $tslulory obligations, including audit fees.
{el Cash
Cash al bank and in han(J indudes cash and short lem) highly liquid investments wrth a short
maturity oflhree months ¢yless from the date ofacquisition or opening of the dewsitor similar.
Dabtors
Other debtors are recognised at the settlement amount due. Prepayments are valued at the
amount prepaid.
ifj
{gi Creditors and provisions
Creditors and provisK)ns are recogniseil where the Trust has a p￿sent obligation resulting
from a past event that will probably resuh in a transfer of fvnds to a third party and the amount
due to settle the obligation can be measured or estsmated reliably. Creditors and provisions
are norrnally recognised at Iheir setljement amounL
{hl Invostments
Investments are valued al the dosing market value at the end of each financial year. The lull
investment portfolio is available for inspection at the Bursar's office. Gains and losses on
disposal and revaluatson of investments are charged or credited in the Statement of Financial
Activities.
12

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Notes (continued)
Accounting policies (Contint￿d)
Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the
general objectives of the charity.
Endowment funds are unrestricted and are earmarked for investment purpose5.
'}
Flnan¢ial instrumènts
Basic financial instruments are initi'ally recognised al transaction value and subsequentty
measured at their sethement value other than listed investments %thi¢h are held at fair value
and any adjustment to fair value is recognised in the profit and loss account.
Incomo from invostm8nts
2024
2023
Bank and other interest
Interest Income from bonds
Oividend income
7242
50.620
159.496
6.369
41,388
175,316
217,368
223,073
Expanditure on charitable actNltles
Unr••trlcted endowm•nt
2024
2023
Grant$ to beneficiaries- IndNidual$
Gronls to beneficiaries- The Faculty of
Advocate5
Annuitses groas
Adminisiraiion expenses
Governance eosts- Audit f••8
20,296
17.795
37,000
144,606
23,894
139,606
16,800
9,360
149,859
18,211
8,289
198,836
186,060
231,154
Key management
The Trustees are considered to be the key management. No trustee received any remunerab.on or
expenses during the year £NIl12023". £NIl}.
Investments
2024
2023
At beginning of year
Less cash for ￿Investr￿enI
8,130.801
185,8641
6,235,706
165.3491
6,044,937
711,112
1786,2051
761,524
6,170,357
620,789
1635,3911
1110,8181
Additions
DisposaL% at openiNJ mathet value or subseouent purthase value
un￿alISed investment Ilossesygains
6,731,368
252,351
6,044,937
84,864
Cash held for ￿inVeStr￿nt
At end of year
6.983,719
6,130,801
13

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Notes (continued)
Investments (continued)
2024
2023
Comprising..
Fixed interest
UK equities
Overseas equitEs fund5
Other furKIs
Short-term dep051ts and cash
1.000.794
835.639
1.439.373 1,237,881
3.131.116 2,844,518
1,160,085 1,126,899
262,361
85.864
6.983.719 6,130,801
H18torlcal cost
5.757,576 5,959,261
D•btorn
2024
2023
Securetl loans due wrthin one year
Accrued bank Inte￿$t & divKJends
P￿payMentS
89,292
21,203
2,400
89,292
13,003
112,B96
102,295
Cr•dltorn
2024
2023
Amounts f•lllng du• wlthln on• y••r
Other creditors- lax on annuths
Accwals an¢Y defe￿d incon
Grants payable
Trade Creditors
46,024
10,78S
13.091
12,233
36,000
1A8S
68,274
81,324
Reserves
O￿nIng
balanc•
CIo8lng
Balance
2024
Income Expendtlure Gain$lllosse$l Transftra
Endo%wnent- Gener* fvjnds 5.754.598
End0%￿rent- DeS￿nated
136.326
funds
137,3061
890,224
6.607516
136,326
Total Endownent funds
￿n￿StriCt￿l fvJnd8
5,890,924
711.684
137,3061
1196.8351
890,224
6,743,842
732,207
217.3S8
6.602,608 217,358
890,224
7,476,049
14

The Fa(JJtty ofAdvocates 1985 Charitable Twst
Financial statements
31 October 2024
Notes (continued)
Reserves (continued)
Opening
balan
Closing
balance
2023
IncC￿￿ Expendrture Gainsll105sesl Transf8
En￿o￿ent- General funds
Endowrent- DesKJnated
funds
5.859,520
172,326
134.4971
136.0001
170,4251
5.754.598
136.326
Total Endobwnenl fvn(ts
un￿striCte￿ fvnds
6,031,846
683.765 223.073
170.4971
1195.1541
170,4251
5.890.924
711.684
6,715,611
223.073
1265,6511
170,4251
6.602,608
Designated funds represent fund$ which have been Set aside lo be granted lo the Faculty of
Advocates to fund suitable charrtable projects.
Analy$l• of ass•ts bot*wn lund•
2024
2024
Unrn8trleted Endowm•nt
2024
Totsl
2023
2023
Un￿triC￿j Endownent
2023
Total
Investrnenls
Debtors
Cash at bank
Currènt liabilits18
6,983,719 6,983,719
112,895
437,709
168,2741
6,130,801
6,130.801
102,295
430,836
61.324
112.896
677,686
158,2741
102.29S
634.713
125.3241
1239,8771
1203.8771
136,0001
732.207
6,743,842 7,476,049
711.684 s,8￿,924
6,602.608
10 Flnan¢lal Instruments
2024
2023
Carylng amount of financlal assets
Measured at fair value through profil and
6,731.367
6.044.937
Finan¢ial assets that a￿ measured at fair value through profit and loss Comprise Iisled investments.
11 U1￿mate controlllng party
The charity is constituted by Tnjst Deed and is conlrolled by the Trustees.
15