APPENDIX 1
Trustees, Annual Report for the period
Period start dale
Pertrod end date
Morth
Year
Day_
Month
Year
12
23
30
24
oscr,-
Day
To
Office of the Scotli8h Charity Regulator
Rélèrence and administratlon details
haiity name
Other names ¢harity is known
by
Reglstered charlty number
Charity's principal address
D.W.T. Cargill Fund
' SC012703
190 Sl Vincent St
Glasgow
Posttode G2 5SP
Names of thg charity trust•es on date of approv31 of TTUStee$' Annual Report
Twustse namg
OffiGe16f any)
Dates acted If
not for whole year
Name of pgrBon
{or body) entitled to
appolnt trusteg Ilf any)
Trustee
Trustee
Trustee
Trustee
Appointed 24.09.24
Appointed 03.12.24
Appointed 25.0325
Tru8lee
Tr￿lee
10
11
12
13
14
15
16
17
18
19
20

APPENDIX 1
Referencg and admlnlstrdtlon detalls
Names of all other charity trustee5 during the period. rf any. (for example, th080 who resigned part way
through the flnanclal perlod)
Name
Dates acted If not for ￿th01e year
Deceased 30.01.24
Slructure. govemance and management
Typ• of 90￿mIng document
Deed of Trust
Truste? r•Gruitment and appolntmènt
SeNing Trustees are appotnted as required taking into account their skills
and knO￿￿edge.
Objectives and activitles
Charltable purposes
The Trustees are emF)oweied lo retain the whole or part ol the resKJue of
the means and estate of the fund for such lime as they may IhMk frt, or
permanent￿, and lo apply the whole or such part of the income of said
retsined portion Ito ￿ called The D.W.T Cargill Fund) for such charitable
purposes as the trustees in their absolute discretion may decide.
Payments can be made to or on behaw of any Hospltals, Instltutk)ns.
SocEties or others whose work in the opinion of the Iruslees is likdy to be
beneficial lo the Community. It is not the Trustees current policy to give
grants lo indimduals. The Trustees have agreed the npdium-temi
objecllve of retaining the capital and applying the Inco￿ for the fNegcrfng
CharItsb￿ purposes recognising the position may vary from year lo year_
The Trustees award grants in ￿OrdanCe wlh the choritable purposes.
During the year the Inccrne from Investments lotslled £322,923 for use in
our Charitsble aclivili8s.
Rathbones Investment Management Ltd ￿t as Investment Managers in
respect ol the share portfolo and the Relum on Investments is in
a¢w[dan￿ with their benchmarks agree(I with th8 Trustees and Ihem.
Summary of the maln actlvities
in relation to these obl•cts

APPENDIX 1
Achlevaments and perforniance
Summary of the maln achlevements of The Trust awarded grants whlch totalled £369,281 in the year lo
the charlty during thg flnanGial period Charriable In$lilulions and Socleties that the Trustees frfi required the
most 8UPPOrt and whose Purposes fell wilhin the ¥pectNm of the Deed
Trust.
Flnanclal revlew
8rf•f statoment ofthe charlty's policy
on roser¥e8
As th9 charity has no recurring eypendlure on an annual bas15 the Board
of Trustees consider th8 curiènl lévèl of rè$8rves to be Suff￿18￿t.
Detai15 of any deficit
None
Donated facllltles and sgNl¢•s Ilf any) None

APPENDIX 1
Other optlonal Infomiauon
Declaration
The t￿￿tee9 declare that they have approved the trustev4' report above.
Signod on bohalf of th• ¢harlty's trustees
Slonaturelsl
Full namelsl
Position {e.g. ChaiT) Chairman and Trustee
Datg
240S2S

REGJsfERED C.HARITY NUMBER: ￿1)12703
IXSKECar£ill Fund
McLay McAlister & McGibbon LLP
Charte￿1 Acco￿tants and Statutory A￿dI￿S
145 St Vi]Kent Sljyet
Cl￿0￿
G2 5JF

Page
Rewrtof the TtiJstee5
RerA)rt of the Ind•)endeni Audito
Stsiement of Fin2ncia] Activities
Balance Sheet
Ntstes ￿ the Financial Statem¢nts
9 to 15
Detsild Stst¢rn¢nl of FinwKial Actiwities
16

Tli¢ irusl¢¢s pr¢5enl their rewrt with the fJDancial s(akmenls ofihe charity for the year ended 30 Novthntxr 2024. Thc
tru5t¢es hav¢ adopt¢d the prowi5ions of Accounting and Reporting by Ch)riti¢s.' Statcmcni of Rceommcndcd Prncti¢¢
applicable to charities preparing their accounts in accordance with the FirtaJKi￿ Re￿lIng Standard opplKable in the
UK a￿7 Republicof Ir¢land (FRS 102) (effective l January 2019).
OWE￿IvEs Af+JD ACTIVI'I"IES
Objectives and aims
The trustee5 are eM￿wered to rthin th¢ whole or part of the re5iduE of the means w)d eswe of the fund for sud] titlle as
thcy may think fiL or permarwtly , and to apply the whole or surh pan of the incom¢ of said rthned wtion (to be
Iled 'The D.W.T. Cargill Fund") for su¢h ¢haritsble Pur￿Se$ ￿ th¢ trust¢es in their absolthe discretioJJ may decide.
Payments may be made to or on behalf of any Hospital4 Institutions, Socieiies or othetE whose wowk in the qlinic￿ of
the tmstees is likely to be beneficial to the comrnunity. It is not ihe trnstees CUTrenl y)liry 10 8Lve 8rnnis 10 individuals.
The trnstee5 have agreed ihe medium-*mi objective of retaining the czpital applyi￿ the income for the foregoing
charitsble purrA)se4 reco￿)Is1￿g ihai the rrJsi(ion might vary from ycarto year.
Report on the Activities of ihe Trust
Th¢ tJiJst¢es have continucd to SUPFQrt & wide range of Charitsble causes in the year under revi¢w. grwits poid totail¢d
£369,281 (2023.. £486,898).
Gnnt AwsTding Poliey
Thc trusttes wply th¢ fund5 of the ¢hority ttt their dIS¢￿tiOn amd it) accordance with Trust PurrK)5es established
under the T]vst Deed.
In awtrding gTWJts, the In￿*¢5 will opply the following principles..
Thc trus*es will consider any r¢quesi from any Beographic81 area.
The trusitts will carry oul suifJ¢i¢nt due diligence kn ensure that ihe requesi rneets ¢h¢ Trust Purposes.
The d<%ision of th¢ inJsteÈs on WhetI￿r to award a g￿￿¢ is fbnd.
The tnJstee5 are notobliged io provide an explanation to applic8nls in the event thattheirapplication is not successful.
Pl*n$ for the Future
The truqteeq plan to fc*llow a tx)licy of rnaking grants to tJM)se organisations they fr¢1 ￿quir¢ most SUPPOrt sthd whose
purpose fall withkn the specllum of ihe Trust tk¢d.
FINANCIAL REVIEW
Finaneial positio
The Unrestricted Incixne Fund at the begInni￿g of th¢ y¢ar amounted to £1.129.800 to whi¢h was ￿ded receipts of
£322,923 and fivm whi¢h was deducted pa)rynents of £399,201, including wts of £369,281 leaving a balance of
£1,053.522 earrie41 fon¥aDJ.
The EXp￿dAble EndoWM￿r Fund al the beginning of the year arno￿1ed 10 £10,722,678 fn)m wh￿h inveslmeni gain5
of £1.420J88 were added and payrncnls of £109.142 deducted, Irdving a balanLf of £12,034.124.
Reserve5 polity
As the chariiy has Jwu￿1nS ex[￿rture on an annual b&sis the Board of Tnjstees consider the currEnt level of
reserves to be sufficicnt.
Investment policy
The investment w)licy, whith is r¢vi¢wed by tbc trustee5 tiwnr to tinie is aim¢d 0¢ maintsining th¢ rui valu¢ of the
Trust funds ovcr a period of y¢aJs and ihereby providing ar¢a￿nable l¢vel of in¢om¢ for ¢haritsbl¢ donation
As shown in Not¢ 9, th¢ m¥ket value of listed investments at 30 November2024 amounted to £12,188:194
Poge I

FINANCJAL RFVIEW
Ri5k5
The trusltts consider Variability of Jnveslrncnt ￿turnS to ￿nStitUte tl)e ¢harity's rnajor flnancial risk. This 15 mitigated by
Tetaining eX￿rt illV¢5ttnenl managers and having a div¢tsified p)rrfolio.
srRucfuRE, COVERYANCE AND MANAGLMENT
Governing dotUM￿t
The chhiity is controlla by its gov¢n)ing documerti a deed of tru￿ and o)nstitut¢s ￿ ￿l￿OrpoTa[¢d charity.
Recruitment of New Membel
Serving truste¢s are appointed &8 Jf9ui]rd,t&king into a¢wuAJt Iheirskiljs and knowJedg¢.
Org4ni$4tion#l $trUrt￿re
The Trust is a rewstered chority, numter SC012703 *r*f is ¢onstilu*d under a Trust t)eed dated 6 May 1938. The Trusi
was registwEd in the BLTh)ks of Council and Session M 12 September 1939. The frust was estsblished by a gift f￿M
D.W.T C*EiII.
Inductioo and TrdiMinE of New Trnstees
GeTKraily tTUStees are familiarwth Ihc work of the charity prior ￿ their apw>tnlm¢nt. Training is provided ￿ rquired.
REFERENCE AND ADMINisfRATIVE DETAILS
Registtred Chgrity nuffiber
SC.Q12703
Prfncipsl gddre55
Mill¢r B¢¢k¢tt & Jackson Lirnitoj
Solic5tors
19) 8t Vincent Stsret
Glasgow
G2 5SP
Audilijrs
McLay M¢Alistcr& McGibbon LLP
Chartered Accountantsand Statutory Auditors
145 St Vin¢ent st￿
Gl&%gow
G2 5JF
F4CtOTS and W adviso
Miller Beckett & Jo¢kson Limiiexl
&Trlicitors
19) St Vinc?ni St￿¢
Glasgow
G2 5SP
Pa8e 2

REFERENCE AND ADMIP41STRATIVE DETAILS
Investsn¢NI advi5¢rs
Raihbones Jnvesknent Manag¢ment Limited
George Housc
50 George Square
Glas8OW
G2 IEH
STATEMENT OF TRVSTEES, RESPONSIBILITIES
Th¢ tnL5tees we re5POll5ibl¢ for pr¢paring th¢ Report of the TnKstees a￿d ihe finamcial ststemcnts in aCC￿￿e with
appli¢&bl¢ 18w and United Kingdom Attounting St￿0￿rI1$ {United Kingdom Generally A¢¢¢pted Attounting Prdctice)
including Finwial Re]Thing S18ndard 102 "The Financial Reportin8 Standard applieable iii the UK and Republic of
I￿land..
The law applicable to chtirilies in Scoiland, the Chariiies and TTUSt¢¢ Investment (Scthland) Act 2005. Ch￿1t]eS
Aecounts (Scotland) Regulwions 2006 {as amendcdl and thc provi5ion$ oftlie cjiarity's ￿n511t￿tiOn, ￿quIT¢S the trus￿¢$
10 prepare fin&icial statenients for each finaTr¢ial year ivhi¢l) give a irue and fair vicw of the 5tAtc of affaiws of th¢ ¢harity
and of th¢ incoming r¢sourrx$ 4nd application of Tesourccs, inGluding th¢ itKome exp￿dItU￿ of tke charity for that
p¢riod. Jn prerAring those financial stsiem¢nl8 trnstees are fEquired to
sel¢¢l suitabl¢ accounting ￿17¢7¢5 ynd then 8pply them consist¢ntly'
Obsc￿e the methods and principles in the Charity SORP.
make judganents and esiimates thai are rcasonabl¢ and prlldrnt.
prepa¢Y The fman¢i81 stat¢m¢Jrt5 on the going conc¢m basis ￿1¢$$ it is inappropriale to presume that th¢ charity will
ciMtin￿ in busit)es&
The tru5tces are resp)nsibl¢ for keeptng proper accounting records whi¢h disclose with reasonable xcuracy at any time
the finanaaj position of the charity aTKI to enable Ih¢m to &)sure that the fir]ancial slaiemthts comply with the Charities
and 1'n￿ce Investmtht (Scotland) Ad 2¢M15. the Charilies Accounts Iswtlafjd) Regulations 2006 (as amended) and ihc
PTovi$ions of the chdTity'S consiiiuiion. They ￿ ￿$0 responsible for safeguardin¥ the assd5 orth¢ chaTily and hence for
rtasonable sieps for ihe pr￿¢￿tI(￿ and detection of fNaud and oih¢r inY¥ulorili¢s.
ZI..,.&... ZS .and
Appmved by ord¢r ofthe board of trnstees on .
SI￿£d on Rts khalf by..
Page 3

D.W.T Cargill Fulld
Opinlon
le have aiidited the financial staicments of D.W.T Cargill Fund Ithe charity'i for the vear endcd 30 NovembeT 2024
which comprise ih¢ Sial¢m¢ni of Ftnancial Aaiviiie& the Baldnce Sheei and r￿>teS to the financial stat¢ments, including
a &immary of signifiranl accountijig ￿lIcIeS. Th¢ fin&ncial reporting fram￿rk that has been applied in their
pr¢paralioii is applicable law ljnittd Kingdom Accounting standa￿ (Unitd Kingdom Gcncrally Acccptcd
Ac¢ounlin¥ Prdclicc}, incluéin8 Financial Reporting Stsndard 102 'The Financi￿ Reporting StaNianl appli¢abl¢ in the
UK and R¢publtc of Jr¢land'.
In our opinion the financial staiaiients..
giv¢ a twe and ￿'r ￿eW of the state of Ihe charity's affairs As at 30 Nov¢rntrÈr 2024 and of lis incorning resources and
application of resources forth¢ yeaT ih¢n ended.
have been pD)p¢rty preparoj in accordancr wilh Uniia KiJEdorn Generdlly Accepted Ac¢ouniii)g Pwlice, includi￿¥
Finllncial Rtprting Stondarnl 102 'The Financial ReFQrting Standard applicable in rhc UK and RerAJblic of l]Yland';
have been prepared tn a¢e(wknee with the requirements of the Chariites and Tn￿ Investment (Scoiland) Act 2(M)5
and Regulation 8 of ihe Chwiiies Aecoimts {Scotlandl Re¥ulaiions 2006.
Bs5is for oplDion
We tondu¢ied our audii in aCcOrda￿e with Intmaiional Siandar(b on Audiling (UK) (ISAS (UK)) ond applicablc law.
OUT ￿SponSibl7111es under those Stsndards are furtli¢T described in the Auditor5, r¢sponsibilili¢s for th¢ aL￿1t of the
financial 51atemeniS section of our r¢port. We are indepcndent of thc charity ifb ac¢ordaI￿ with the ethical requirenients
that a￿ relev&it to our audil of thr financial stat¢ments in the UK. including the FRCS Ethi¢81 Si8ndanl, and the
PTDV1510ll5 available f(pr small ¢ntities, in the cirCurnSts￿¢S Set out in note 13 to the financial st#ternen￿ and we have
fulfilled our other dbical re$Yo￿libl]i1IeS in accordance with these requirements. We believe ihfit the audit evidence we
hav¢obtained is suffi¢i*tt 8nd appropriate ioprovide abasis forour (yinion.
CO￿¢]￿sID￿$ rdHtlng w golllg concern
In auditing th6 financial stat¢M¢nts, w¢ have cottcluded that the tNstees use of the going ¢onwi knis of a¢Lx>unting in
the preparation of the finanuil stst¢ments is appropriate.
B￿d on the woJl< we have Frfornie¢l we have nol identified any matejial uncertaintie5 relatins¥ to events or conditions
th#( individually or colle£tively, may c&st signifiont doubt on the charity's ability to eontinue &$ a going concem for
pewiod of at le￿tWelVe Thonths from when ihe finat)cial s￿¢m￿lts are autlK&rised for issue.
Our 4ESP)]isibilÈtie5 aThl the r¢sponsibilitl¢s of th¢ 1n1sl¢￿ wilh respect to g¢ing con¢¢m ar¢ dcscribtd in thc rcle¥anl
5¢CtitsJL%of this ￿port.
Other inform*tlon
The tru51ees are restx)nsible for the other infoThation. The other 1nfomjati(￿ ¢ompris¢s ihe infomiation includcd the
Annual R¢m othrythan thc flnanciai statements and our Rep)rt of the Ind¢p¢ndent Audttots thereon.
(hr oplnion on the financial statements docs not ¢oY¢r the oth¢r inforniation an4 exC￿t to the extent (th¢n¥is¢
explicitly 5tak4J in our report, w¢ do ￿0t ¢xpress any forni of assuranc¢ ¢on¢lusion th¢re¢)n.
In connection with our audit of th¢ f￿anCial st4tsmtni& our resI￿nsibIlIty is to rvdd the other infomiatM)n arf in doing
so, wnsider whether the other information is mÉteria]ly ineonsistenl with the financial ststemenis or ollr knowled¥e
obtained in the alldit or otherwise appears to be materially misst*ed. If we idenlify sueh material inconsistencies or
apparent material misstatements, we sre requirEd to dthemiine Wheth￿ diis gives rise to 2 malerial Tni5￿￿tement in Ihc
financial state]neDts th¢ms¥lves. If. based on work we have performrd, we con¢lude that ih¢re is a material
misslatememt of this ￿her infomiation, we are required to report thai fa¢( We have nothing to Teport in this regard.
MAtters (*b whlelk we are requlred to report by exception
We have nothing to Teport in respeLI of the following malieJ5 where the ajarities AcCo￿ts (ScotlaTMI) Regulations 2(KK)
requijes us to re￿￿ lo you if. in our0p1￿l0￿'.
th¢ infannation given in the Rep￿ of thc Trusle¢5 is Incmsistent in any Materi￿ respc£t with th¢ finan¢i41
s¢atemeni& or
proper accounting rt(Drdb" hav¢ not b¢en kepl. or
th¢ financthl statements we not in agreement with th¢ 8¢countin8 record$ and returns: or
w¢ h&ve not r¢¢esved all th¢ tnfomiation aDd CXFlatthtions w¢r¢quire for our audit.
Page 4

of the Inde
Responsibilities •f irustees
As explained more fully in ihe Stalement of Trnths, R£s￿)ns11 )iliiies. Ihe are resJx)nsibl¢ for th¢ pryrdiioll of
the financial ￿￿ÉeMentS whith 82ve a true and fair view. for such intemal (x)ntrol a5 th¢ Iru51¢es detcnnine 15
necessary io enable ihe prcpardTiOn of findniial 5talrmt*ts ihal ar¢ fr¢¢ fronj Jn81erial ini551atein¢nL wh¢tlier du¢ ¢0 fraud
OT
In the finan¢ial statements, the truste¢5 are ￿sponSible for ass¢ssing the chirity's ability to continuc as a going
ncerr4 disc105yng. as Applicable, matters relalcd to going conccrn and using th¢ going concern Iiasis of accounting
unless the trustees either intend to liquidate the charity or to eease q)erati(ms, or have no realisti¢ alternative but to do
Our responsibilities for of the fin#nti&l stst¢m¢nts
We have been apsx)inted 85 Auditors under S¢aion 44(IXc) of the ChaTiti¢s #nd TNst¢¢ Invesbnes)I Iswtlandl Act 2￿)5
and ￿pOrt in accordance with ihe Act fj￿d r¢levantr¢gulations mad¢ or havin8 thereunder.
Our obj¢ctiv¢s are to obtsin ]Easonable assurance a&)lli whether Ihe firwicial stsiements as a whole are free from
mawial misstsiement, whether due to frdud or error. and to issw a Report of the ItKlepEndent Audito]5 thai includes our
opinion. Reasonable ￿sUrance is a high level of assurance, bui is a guardlltee that an audii Cond￿¢1 in a¢¢orthn¢e
114fh ISAS IUK) will always detrLi a maierial missiaiemeni when il exists. Misstatem￿7ts can arise frotn fraud or error
and are a)nsidered material if, ￿diVIduallY or in the aggregate, they could re￿o￿ab]Y be expect￿ io influ¢n¢¢ th¢
tKonomi¢ d¢¢isions of users taken on Ihc basis of these finafbcial stai¢meiits.
The c￿ent ￿ which our procedures arc Ixpable ofdeiecting iJr¢gularities includin8 fraud is detailed below..
In id¢nlifying and assessing risks of material niissiatement in respect of irr¢gularili¢s, including fraud 8nd
non-wmpliance with laws and ￿g￿latIonS w¢ considered th¢ followin&
- tlie iiature of thc indu5ty a]xl s¢¢tor, control enyironmtht and business ￿orni￿n￿.
- r¢sults of ourcnquirics of managemeth aFKJut ih¢irown identification and assessment of the risks and itY¢gu]￿1ties.
- any matters w¢ idmiified havingreviewed the ¢ornpany's lliiemal controls established to mitl8ate risks of fraudor
non- Complia￿¢ with laws and regulations;
- th¢ matiet5 di%cussed among the audit engagement team regarding howgnd wh¢Te fr?￿j rnight ￿cur in th¢
financial ststements aAd any wten(ial indicators of frdud.
We obtaÈned an undetsianding of the le8a] and re8ulatyry frdmew)Jk thai Éhe company ¢)p¢rat¢s in. The kcy laws athj
regulations w¢ ¢onsidered included the UK Co]nponies Act and tax legislalion. We &%se55ed the t%ient of ¢4)mplian
with these Igws and regulations ￿ part of our procedures on the rela￿d financial slatemenl items. In addR¢ion we
considered provisions of other laws and regulations that not have a direcl effc¢t on the financial ststements but
colnpl1an￿ with which may be fiindllmelllal to the company's ability to operate. Thcse included health and $8fety, GDPR
and employnent laws. Auditing stsndwds limit the re4uir¢d audit proc¢durts io identify Trin - ￿MplianCe with these
laws and regulations to enquiry of the directors, Ins￿l0n of regulatory lexal corres￿nde￿Cc. if any, w]d miew of
tninules of mceiings. Thce£ li1￿]￿1 pro¢¢dw¢s did not identify actual or suspected non-complian¢¢.
A further (ks¢iiption of our re5ponstbilities for the audit of the fin4n¢iaI stsi¢m¢nts is located 011 ihe Finan¢iaJ R¢p)rti
CouJKil's weEsite at www.fr¢.OTg.ukIauditors￿$P0n$1biI1t1e5. This deseription fornis part of ow Rew)rt of the
Independfflt Audits)23.

D.W.T Caoyill Fund
Ilse of our report
This rep)rt is made solely K) the ch*ity'S trustees. as a I￿y. in attordance with Rcgulaiion 10 of th¢ Chorities Accounts
(S¢oilaNI) Regulations 2006. Our audit wot* has been undenak'en so tl)ai w¢ might stal¢ lo Ihc charity'5 tTUStCC5 those
]natter5 wc are tequiwvd tv 51dlc to ihrm in audiiors, r¢pot1 for no other puryK>5e. To tIK fulle51 cxt¢nt P¢miitttd by
law. w¢ th not accept or assume responsibility lo anyonr othcr ihan the charity and the charity'5 tn]stees 45 a body, for
ouraudit work thi5 TCP)rt, or forthe qJinioJs we have forn]¢d.
McLay M¢Alist¢r & McGibbon LLP
Chartered Accountsnts and Statutory Auditors
145 Stvincent Street
Gl&8gow
G2 5JF
Date..
Pagr 6

30.11.24
30.11.23
Ujirestiicted
Expcthble
EN4owm¢nt
Fund
Unrestritled
Incorn¢
Fund
Totsl
funds
Totsl
fun&
IIYCOME AND ENDOWMENTS FROM
Investment inccrtne
322,923
322923
338.75)
EXPENDITURJS ON
Raising funds
(20)
49,634
49,614
45,306
Charltsble gcdvltles
Gr￿ts
s￿pport co￿$
369,281
29,940
369,281
89,448
486.898
74,(M)O
59,508
Total
399,201
109,142
508J43
606,204
Netgains on investments
1,420.588
1.420.588
I20,(￿5
NET INCOMFJ(EXPENDITURE)
{76278)
1,311,446
1235.168
1147,4461
RECONCILIATION OV FUNDS
Total funds broug])t fonwd
1,129,8(K)
10.722,678
11.852.478
I l J99.924
TOTAL FUNDS CARRIED FORWARD
1.033,522
11034.124
13.087.646
11,852,478
The note5 fornj part of these statements
Page 7

W.T Ca
I'II FLmd
3Q.1124
30.1123
Unr¢stiici¢d
Exper)dable
End0%￿eTrt
Fund
Unrestrictcd
Income
Fund
Total
ds
Totsl
funds
Nots
FIXLD A&SETS
Investnients
13,000,804
13,000,804
11.726.052
CURREf4tr ASSETS
Cash in hand
1.083,462
(9x19296)
174.166
2￿,382
CREDITORS
Amounts falling th]e wthin one year
io
129,940)
{57J841
(87,3241
173,956)
NET CURRENT ASSETS
1.053,522
1966,680)
86,842
126,426
TOTAL ASSETS LESSCURREwr
UABILITIES
1,053,522
12.034,124
13,087,646
11.851478
NET ASSETS
l.ts.f_3,522
12.034,124
13.087.646
11,851478
FUNDS
UnTEStricted fut5d5'.
Unr¢stricted hKomc Fund
UnTestiictcd Expendoble Endowm¢nf Fund
1,053,522
12,034,124
1,129,800
10,722,678
13,087.646
11.552.478
TOTAL FUNDS
13,087.646
11,852,478
The financial staiem¢nts w¢r¢ approved bv the Board of TtusteES 8nd A￿11￿}nS￿ for i&sue
. and were signed on ils bthsifby..
on
The no*s fomi part ofthese financial statement5
Page 8

AC.COIINnNG POLICIES
Bas1$ of preparingthe finI￿rIal 5tatvThenls
The finatKia] Sh21¢m¢nls of th¢ charity. which is a public bcnEfit entity lln(kr FRS 102, hav¢ been pr¢pgrtd in
accordan¢¢ with th¢ C.harilies SORP (FRS 102) 'A¢Gounlin8 and Rewrting by Chariti¢& Siatwnent of
ReC0￿mended Pradirx applIcable lo Charili￿ rrq)aring ih¢ir a¢LYJunts in accordance with the FIn￿ela]
Reporting Standard applicable in the UK and R¢publtc of Ircland {FRS 102) (cffe¢tiv¢ l January 20191.,
Fina￿]91 Reporting Stsndard 102 Tr Financial Reporting &￿dard applithle in the UK and R￿UbliC of
Ircland. and thc Ch8ri1ies 8J]d Tm51e¢ Envesthnent IS¢otlandl Aei 2rrf15. The fIna￿ClaI siatements have been
prcparcd under the hisiorical com conv¢ntion. wilh th¢ excepiion of inVe￿mentS whidj ar¢ in¢lwitd at ]nat*et
valu¢, ￿ modified by the revaluationof certatn Ossds.
Ineome
All ]ne￿ne 15 rcwised in the St$tem￿l of Fknancial ActiNities (SOFA) on¢e the charity has entitlement to the
fimd4 it is pmbsble that ihe incom¢ wll be received gnd the can be measured tyliably.
Expenditu
Liabditi¢s are recog)ised as e%pendiwrE ￿on therE is a le8al or consthKriYe obligarion aTrminittiny the
charity lo that expenditure, it is probalAe thai a transfer of economic benefits will be required in seiilemerbt and
the amount of the obligation can ￿ Me￿￿red reliably. Exptnditute is a¢¢oun¢a f￿ on an a￿rnal$ basis and has
been classified under headings thai aggregaie all w$¢ r¢lated to the category. Wh¢re (vsts G￿n01 be di￿¢1[Y
attribultd ￿ partiwlar ]Kadin8S they have been allocatd to xtivities on a basis wnsistent with the use of
rwuree
AlJo¢*tion and sppurtionThentof c•sts
Govcrnance costs comprise all costs involving the public accountabiltty of th¢ thaTity and its Lx)mplion¢¢ with
regulation ￿ld good practicc. Th¢5r costs in¢lud¢ wsts r¢lat¢d to statutory audtt omd l¢gal f¢e&
TOX•t￿
The chtirity is exemw ftvrn tax on tts charitable gctivitieL
Inmtments
InYestmLI)ts are recognised initialty ar fair value wliich is llOTtnally the Iran$￿tIOn price ¢x¢luding transaction
costs. Subsequenily. they ar¢ measured at faiT waluE wilh 6hanges r¢wgnis¢d in 'net gains l {losscs) on
tnvesttnents, in th¢ SOFA if the shares are publically tr￿ed ortheir f8irvalu¢ otherwise be meLsuted reliably.
Current a5sel investments are short temi highly liquid inves¢met)ts and are held at f•r value. These include cash
on depxit and cth equivalents with a maturity of less than one year.
IP4VESTMENT JIYCOME
30.1124
30.11.23
DiMdends
Interest ￿etIVed
320.643
1280
336,130
1623
322,923
338,753
Pa8e 9
LY)nlinued...

RAISING FUNDS
Rg151ng thNgtiOn5 kgatie5
30.11.24
30.11.23
Tru5tee5' ¢xpeibses
(20}
Investment manieemenl costs
30.11.24
30.11.23
Portfolio managemcrt
49.634
45206
Ag￿gate amounis
49,614
45J06
CHAIUTABLE AcfiviTIES COSTS
Grnnl
ndingof
activities
(stt notc
Support
eosts(
tyxe 6)
5)
Totsls
Grants
SuprN)rt costs
369,281
369,281
89,448
89,448
369,281
89,448
458,729
GRAlYtS PAYABLE
30.1124
30.11.23
Grants
369,281
486,898
Thetotal 8ra#ts pid ￿ institutions during the year w&% as hllows:
10.11.23
M¢dical Care eic
Care of Childr¢n
Care in th¢ Coinmunity
Carc for thc Elderly
Mis¢ellan¢ous
Youth o￿an7$atiOnS
218,￿0
24.000
62,0(M)
49281
2(O,(M)O
40,￿0
89.500
68J98
21,(X)O
2,(MJO
16,IMiO
369,281
480,898
GrdDts paid during the y¢Ar We￿ rnode to Vati0￿ instiiution5 under the aboveheadings.
Pa8e 10
n11n￿l...

aT
SUPPORT COSTS
Gov¢manc¢
sts
Mana¥rm¢nt
Ti)tals
Supp)n ¢03ts
83,868
5,580
89,448
SuprK)rt eos¢s. included in the atK>ve. are as folbws-.
30.11.24
Support
Costs
30.11.23
Tots]
activities
Sundries
Factor5 fees
ITKlependtht audilorfees
2,124
81,744
5,580
44
68,640
5,-316
89.448
74,(X)O
TRUSTEES. REMUNERATION AND BENEFITS
There wer¢ no trusiees. remuneration or other bEnefit5 for th¢ yew eJJded 30 November 2024 rM)r for the year
ended 30 Novernber 2023.
Trustees. eJpenKs
TTU51 fftrmbus may rwcive a in(yJest contrli )utioii low￿(￿ their Irav¢lling ￿P¢￿S¢s. During the Y¢￿ ¢nded 30
NovanE¢r 2024 atotal of £20 was Jrpaid12023.. £100 paid).
COMPARATIVES FOR THE STATILMENT OF FINANCIAL AcTIvrriES {30.11.23}
Unrestricted
Exrkiidable
Endowm¥nt
Fulld
Unr¢srri(ted
Incon]¢
Fund
T(xal
INCOME AND E]YDOWMENfs FROM
Inveglrnent Ir￿ome
338,753
118.753
EXPENDITURE ON
Raising funds
100
45206
45 J06
Charitsble activitit
Grdnts
Support LU)5tS
486,898
29J60
486,898
74,0(Ml
44,640
Totsl
516,358
89,846
6204
gains on invesmients
120,005
120,005
NET INCOMEI(EXPENDITURF.)
(177.605)
30.159
{147.446)
REcof4ciLIATION OF FUNDS
Totsl funds brou￿1 fon¥aTd
I J07,405
10,691519
11,9)9.924
Page11
continued...

COMPARATIVES FOR THE ￿ATEMENT OF FINANCIAL AcfIviTIES13th11.23)_ tmilnued
Unrestricted
Exprndabl¢
Endowmcnt
Fund
Un[e￿nded
lTrcome
Fund
T(rtal
fumds
TOTAL FUNDS CARRIED FORWARD
1.129.800
10.722.678
11.852,478
FIXED ASSET INVFSTMENTS
Listed
investsnents
Unlisted
invesim¢ttis
Totals
MARKET VALUE
At l De¢ember2023
Additions
Disposals
Revaluations
10,913,442
I J20,762
(1,466,598)
1,420,588
812,610
11,726.052
1,320,762
(1,406,598)
1,420,588
At 30 Nov¢mb¢r 2024
12,188.194
812,610
13,0(K),804
NET BOOK VALUE
AI 30 November 2024
12,188,194
812,610
13.0(X).804
AI 30 N0￿mber 2023
10,913,442
¥12.610
11,726,052
The inNr5tmthts of the Trust re￿8￿15¢d on UK. E￿rOpean and American sto¢k exchang¢%.
Th¢cost ofListed Fixed Asset Investments held on 30 November 2024 is £5.532,728 {2023.. £5,169.850).
Thematerial inVe￿ment5 held wthin the listed portfolio att as follows:
Value 21124
Co$t2024
Value 11123
C0512023
Rio finto PIC
BAE Systerns PIC
JPM Ametican Inv Twsi Pl
Marsh & M¢Lcnnan Co Jnc
Visa In¢
708,388
129.885
197,656
256.814
628.602
371,183
774.757
569.279
932.650
129.885
197.6)6
256,814
IJII.OOD
6972
663,105
541375
371,183
The Unlisted Fixed Asset ]nvestments rekntelo..
Bonds in srfurity ￿er.
21)24
2017
D8vid c￿sim Hou5C- St 50/0
812 610
812610
Page 12
continued...

D.W.T
End
CREDITORS: AMOIINTS FALLING DUE WITHIN ONE I'EAR
30.11.24
30.11.23
0¢kr¢￿dI1orS
87,324
73,956
MOVEMENT IN FUNDS
Ai
1.1223
movement
in fu￿d5
At
30.1124
Unr&stricted fuTrd$
UnJE$tricted Incornc Fund
Unrestrictcd Expendabl¢ Endowment Furjd
1,129,800
10,722,678
{76,278)
,311.446
1,053522
12.034,124
11,851478
1235,168
13.087,646
TOTAL FUNDS
11,832,478
1235,168
13.087,646
Net rnovement in fund4 Includ￿ in ihe alxjve as follows..
Incoming
rcsources
ReSoU￿eS
vJ¢nded
Gains and
]osses
Movement
In fvnds
UTrre5tricted funds
Unrc5trictcd bicon]e Fund
Unrc5tricted Expendabl¢Endowm¢nt Fund
322,923
(399,2011
1109,1421
176,278)
,311,446
1.420,588
322,923
1508,3431
1,420,588
1,235,168
TO'I'AL Fuf4D
322923
1508,3431
1,420.588
1,235,168
C•mparntiv¢s knr movemen¢ in funds
Net
]novement
in funds
At
.12.22
Ai
30.11.23
U•rcstrkted fund5
UDrtsiri¢t¢d Incomc Fund
UN￿3tilctcd Ewndabk Endowment Fund
1,307.405
10,691519
1177.605)
30,159
1,129,800
10,722,678
11.999,924
(147,446)
11.852.478
TOTAL FUNDS
11,999.924
(147,rt146)
11,851478
Pag¢ 13
contlliued...

MOVEMENT Iri FUNDS- continued
Compardtivc nct movcmcnt in funds indudtd in the obove are as follow5.'
Incoming
resour¢es
Garns and
1055es
Moverne
in funds
exper)ded
Unreslrict¢d funds
UnTC5trieted Jncome Fund
UnrE5tri¢ied ￿pendable Endowment Fund
338.7J3
1516.3581
189,8461
(177,6051
30,159
120,005
338.753
1606,204)
120,005
(147,446)
TOTAL FUT4DS
338,753
{606,204)
120,005
(147,446)
A Current year 12 mLYJths and prior year 12 moiiths ¢ombined positÈon is a5 follow
Net
moYeThcnt
in funds
Ai
1.1222
At
30.1124
Ilnrostricted fund5
Unrc5tricted Income Fund
un￿Strided ExpeThJable Endowncnt Fund
I J07,405
10,692,519
(253,883 }
1341,605
.053J22
12,034,124
11,999924
1,087,722
13,087,646
TOTAL TrUNDS
11.999.924
1.087,722
13,087,646
A Current yvdr 12 ￿OnthS and pyior year 12 mLxJths wmbined net rnoveTh￿nt in funds. in¢lud¥d in the at*)v¢ 4r¢
as follows..
Incoming
resources
Resources
expended
Gains aThl
losses
Movement
in fimds
Unrestricted funds
Unrestiicied Jncome Fund
Unrestiicted ExpendableEndowm¢nt Fund
661,676
1915J591
1198,9881
1253.8831
1,341,605
l J4Q.593
661.676
{1.114.5471
154QJ93
1,087,722
TOTAL FUNDS
661,676
{1,114,5471
154QJ93
1,087.722
Page 14
contlljued...

12.
REIATED PARTY DISCLOSURES
e both diTccts)rs and 5harch)IdeJs of Miller B¢¢k¢tt & Ja¢kson Lt& Factorial Fees
of £È1,744 {2023= £68.640) wcre paid to this Company.
13.
FRC ETIIICAL STANDARD- PROVISIONS AVAILABLE FOR SMALL ENfiTIES
In common wilh many other businesses of our stze and naiure we use our auditors to assist with the preparation
of the financial 5taternenls.
Page 15

3Q.11.24
30.11.23
INCOME AND ENDOWMEIYTS
I￿VeStme111 income
Diwdends
Inier¢st T￿lved
320.643
2280
336.130
2,623
322.923
338.753
Totsl incomiThg ￿0￿rreS
322.923
338.753
EXPENDITURE
R9￿1￿£ donations and legAri¢s
Truste¢s' t￿11$¢5
(20)
I￿Vestment ¢yTrsts
Portfolio management
49,634
45206
CTh8rithble seti￿tieS
Grants io ins1inttioDs
369,281
486,898
Suppfyrt ¢osts
MA119gernent
Sundries
Factors fees
2.124
81.744
68,640
83.868
68.684
Governaiicecosts
Jndcpendent auditQT ftts
5,580
5,316
Total resources expended
508,343
606,204
r4etexpeDdit￿r¢ before gAins losses
{185,420)
(267,451)
Realiswl r¢coEni$¢d gAi]Ls l(tsses
Realised gain￿(lO$s¢s) on r￿ed ￿¢t inveslm#Jts
1,420,588
120,005
in¢omel(expthdltur¢)
1,235.168
(147,4461
This pge &)es noi forni part of the statutory ffinancial statemenls
Page 10