SCOTTISH ASSOCIATION OF YOUNG FARMERS, CLUBS ITrtrERNATIONAL TRUST Registered cb3rity numb¢r. SC013385 ACCOUNTS YEAR ENDED 31 MARCH 2025 SCOTTISH ASSOCIATION OF YOUNG FARMERS. CLUBS INTERNATIONAL TRUST YEAR ENDED 31 ￿CH 2025 REPORT OF THE TRUSTEES REFERENCE AND ADMINISTrATIVE INFORMATION Regl$t¢red chirlty name Scottish Association of Young Fanncrj. Club¥ Intcrnational Tnut Charity number Scottish charity number. SCOI 3385 Principal address Trusttes Bankers Virgin Money. 43 Alloway Strttt Ayr KA7 ISP Investment v&dvAsers Cbarles Stanley & Co U(L 2 Multr¢¢s WaiK St Andrew Square. Edinb￿￿ EHI 3DQ Independent examlner SCOTTISH ASSOCIATION OF YOUNG FARMERS. CLUBS INTERNATIONAL TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEES (CONTINUED) STRUCTURE, GOVERNANCE AND MANAGEMENT Governin do¢ument Th¢ Trust is governed by a Deed of Trust and was cstablish¢d on 7 Febrnary, 1977. and revis￿ on December 2012. It is registettd &s a charity with the office of the Scottish Charity Regulator. ointment of Tn￿tee$ The Trustees appointed from suitable p¢rsons. fonnerly and currently active within the Scottish Asso¢iation of Young Famers Clubs. and not exceeding nine in number. With the exception of th¢ Chairnwi. who is elected annually, T￿slee9 a￿ appointed for a three year ￿10([ which can be renewed twice for a fi￿¢[ three year period. Tn￿tee induction and trainin All receive a copy of the Deed of Trust and background infornlation on the ¢barity. anisation The T￿￿t is ao independent bcdy separate from the Scottish Association of Young Farmers Clubs and support is channelled tbrough appropriate individuals and activities within the remii of the Trustees. Risk man emenl The Tn￿teeS have &ssessed the investment risks to which the clwity is exposed and are advised on specific stock selection by a firni of stockbrokers. Related The Fund co-op¢rat¢s with the Scottish Association of Young Fann¢rs' Clubs and other rclat¢d ch￿ltieS a5 appropriate. OWECTIVES AND AcrtVITTES The SAYFC International Tnlst financially supported a broad rang¢ of applications during the year. whicb benefited over 73 SAYFC affiliated members directly and I l iticoming exchanges via the tnternational Exchange programmc. A total of19 8ppli¢ations were sUPPOrted during the y¢ar which included delegates trav¢lling to multiple countri¢s via exchanges (Ulster. Canad4 and Tasmania). group travel (Morrocco and Vielnam), and speeclynaking competitions {Canada). Grdnts We￿ also awarded to delegates attending a range of conference events. including the Five Natio￿. Oxford Farming Couferen¢e. Ru￿1 Youth Europe events- and a new application for the World Dairy Expo (wisco￿l0). Within the UL the Tn￿l also provided support to SA￿C.s 'Junior Camp, education programme. and the Trust hosted a'TnLStee Trdining eveot'_ iKyth of which have the objective of recogT)isin& rewarding alld iDspiring future leadets within the AgriC￿lur￿l sector and rurnl ScotlaniL ScO￿lSH ASSOCIATION OF YOUNG FARMERS, CLUBS INTERNATIONAL TRUST YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEES (cO￿lNuED) ACHtEVEMENfs AND PERFORMANCE Grants allocated out of the surplus for the year amounted to £30.343 (2024- £51.890). FINANCIAL REVIEW The net expenditure of the T￿st for the year ended 31 March 2025 amouDted to £14.629 (2024 - £36.896). The market value of the Fund's investments de¢re&sed marginally to £1.327,135. at 31 Ma￿h 2025. from £lJ28,828. at 31 Ma￿h 2024. Princi The principle funth'Dg SOWC¢ is income fmm investments. The Tn￿le¢s. investmentp)li¢y is to balance the requirement for a re&80nable level of curreni iocome with the obje£tive of long temi 8rowth in c4ital and in¢ome througb equity investment. Rese It is the Trustees. pilicy to maintsin the present level of g¢neral fimd rcsrn and to distribute the eharity's net income as appropria*. PLANS FOR FLrruRE PERIODS The Trusteu propose ¢0 ￿ntInUe suppx)rt towards educational, cultural and working exchange expeTien¢es for the young people of nwai Scotland in order to incrwe awareness of intcmational affaiTh and their rel¢van¢e to and impact on the nTrnI economy of Scotlan Supwt I￿ been offtred towards th¢ fuwre developmeni of the relationship Ittween thc International Trusl S¢ottisb As￿￿1￿10n of Young Farn)a5 Clubs aDd young farmers iti Rwand& TDJstees have Indi￿ that the Ttust is COtiSAderiDg a substantial award- in linc with the objectives of the Trust- to the Scotiisjj As￿latiOn of Young Farnicrs Clubs (SAYFC) 'BIG Build. prO￿arnMe during the forthcoming year, iti rcwition of the IDtern￿o￿aj Trust being established as a result of the fun¢L8 realised from the sale of the original SA buildin8 Rutland Strttl Edinburgh (circa 1977). and the imwtance of the buildin8 and thc future of SAYFC and its prnises to the future of agriculrure and young people in SLX•tJand and Iwnd. STATEME￿ OF TRusfEESP RFSPONSIBILIIIES The law applicable to clwiti¢s in Scotland requircs the Trustees to prepare financial ststerncnts for ea¢h fin8Dcial year. which give a tTue and fair view of the charity's financial 8Ctivities during the year and of its financial position at the end of the yffar. In preparing financial st2tcments giving a truc and fair view. the Tnwe¢s should follow best practice and: select suitsble accouttting plicies and then apply them consistently: make judgements and estim*ss that are Teasonable and prudenL state wlther 4ylicable ￿)Untill8 standards and ststements of recommended practice have been followe4 subject to any depar￿￿ di5¢1osed and explained ID the financial statements. and prepaTe the financial statements on the going concern basis unless it is inappTOPTiate to pttsume that the clwity will rA)ntinue in operdtiOIL SCOTfisH ASSOCIATION OF YOUNG FARMERS, CLUBS INTERNATIONAL TRUST YEAR ENDED 31 MARCH 2CI25 REPORT OF THE TRUSTBES (CONrtNUED) STATEMENT OF TRUSTEES, RESPONSIBILITIES (CONTINUED) The Th￿1¢¢5 arc [￿pOnsibl¢ for k¢￿1￿8 prnp*x a¢¢ountin8 records which di￿lose. wAth re4s0nable acara¢y at any time the financial position of the charity ADd which en8ble them to ensure that the financial statements comply with the ch￿ltieS and TNstK Inveskn¢nt (Scotland) Act 2005 ard the Charities Accounts (Scotland) Regulations 20)6 (a5 am¢nded). They are also responsible for safeguarding the assets of the Trust and hencc for tskins reasonable steps for the preveDtion 8nd detection of fraud and other irregularities. 15106 Approv￿ by the TruSt￿S on ........ . 2025 and $i￿ed on their beb8lf by ruste¢ SCO￿ASH ASSOCIATION OF YOUNG FARMERS, CLUBS INTERNATIONAL TRUST COME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025 2025 2024 INCOME Investtnent income and interest 35,703 32,877 EXPEND￿uRE International Coordinator World Dairy Expo Oxford Farming Conference Senior Speechmaking prize- Canada Viett]am group travel RHS Internation81 Event Nuffield Scholarship award Five N￿lOn$ Conference Exclwlges Canada RYE Rally fees Junior Jaunt Motrocco group travel RYE Semit SAYFC Int'l committee- team event Five Nations st0ckjud￿tig Exchanges Ulster TaD72nia 4H Conference & Rwanda Canada Study Tour India group travel Croatia group travel Illcoming Exchanges SAYFC Junior Camp Excbanges New Ztaland Exchanges Tasnian Exchanges Ireland Rural Youth subscription 4,800 4,000 3,200 2,800 2,100 2.000 2,000 1.671 1,527 1.378 1,000 800 516 500 308 166 1.943 3,000 1,371 1,416 20.559 12.350 2,000 1,200 2,113 1.500 1.500 1,209 loo 1,629 1,577 30.343 330 3,090 4,565 1.040 10,964 51,890 321 123 5,867 1,020 10,552 Inden)nity insiiranc¢ Adminjstration and meeting expenses Tn￿￿e training event R¢porting accountant's charges st￿kbrOkcr n￿￿gement fees 50,332 69,773 (DEFICIT) FOR YEAR £ ( 14,629) £ (36.896) SCO￿[SH ASSOCIATION OF YOUNG FARMERS, CLUBS INTERNATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Unr¢s ricted Fun Total Fund Total Funds Note 2025 2024 INCOME Investtnent income 35,703 32,877 Charitable activities: Grants awarded 30,343 51,890 Management and admil￿StratiOn 9,025 7J31 Raising Fwi&8: inv&%tment managem¢Dt costs 10.964 10,552 Totsl expenditure 50.332 69,773 NET IEXPENDITURE) FOR THE YEAR ( 14,629) { 36,896) liealised gain on investments Ut)realised gain on investments 3,180 9,787 8.162 67.330 NET MOVEMENf ￿ FUNDS 1,662) 38,596 FUNDS RECONCILIATION Total at l April 2024 TOTAL FUNDS AT 31 MARCH 2025 1.348,228 1,309,632 £ 1,346,566 £ 1,348.228 The note5 on page 8 fonD part of these fttwlcial statements. scorrisH ASSOCIATION OF YOUNG FARMERS, CLUBS IFrrEPNATIONAL TRUST BALANCE SHEET AS AT 31 MARCH 2025 FIXED ASSETS 1,327.135 1328.828 Inve51m¢nts CURRENT ASSETS 2.111 18.370 1.442 21,665 Accrned ino)me & mymenls Bank cU￿ent & savings accounts 20,481 23,107 cuRRE￿r LLABILITIES 1,050 3.707 19.431 19,400 £ J.346,566 £ lJ48.228 ASSErs £ 1.346.566 £ 1?48,228 The notes on pag¢ 8 fonn part of thes¢ fina￿]3[ ststanart& .. 2025 wd signal on their behalf by Ti4Lsie¢ SCOThSH ASSOCIATION OF YOUNG FARMERS, CLUBS INrERNATIONAL TRUST NOTES ON THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES a) B&sts of accounting The accounts have b¢¢n prepared under the histori￿1 cost convention modificd by the revaluation of fixed asset inV￿tMents and are in accordance with the Ststement of Recommended Prnctice: Accounting and Re￿rtIng by Charities preparing their accounts in a¢cordanc¢ with the Financial Rep)rting Swthrd applicable in the UK and Republic of Ircland (FRS 102) issued on 16 July 2014 aDd th¢ Financial Reporting Standard applicable in the United Kingdom And Republic of Ircland (FRS 102). the Charities and TnJst¢e Investhient (Scotland) Act 2005, the Charities Accounts IS¢otland) Re8uiatioDS 21Y)6 (as amended). b) InV￿lments aDd investinent income Inv¢sthl¢Dts inclthl * market value. Dividends on equlty investm¢nts are accounted foi on dale of payment and all interest is accowrtcd for on an 8cen￿lS basis. c) Gr8nts payable Grants payable are rewrded in relatioo to the period to which they relate. 20 MANAGEmETr￿ AND ADMINISTRATION Jnd¢mDity insurance AdmxnistsatioD and n)eeting ¢xpeDses Trustrc traiDing event Independent cxaminer's ¢h8rge8 330 321 123 5.867 1.020 4.565 1.040 9.025 7.331 Market value at 31 Ma￿h 21724 AdditiODS (Di5POsals) Net unreatiscd gain on investsncDts for year 1297.745 202.601 { 206.859) 9,787 1265.770 119,116 (154.471) 67.330 Market value at 31 March 2025 Funds held on deposit and by stockbroker £ I J03274 £ 1297.745 23.861 31.083 £ 1.327.135 £ 1,328.828 Totsl value of Awards made to 31 March 2025 - £677,698 (since the Thjst's inwtion in 1977). SCOThISH ASSOCIATION OF YOUNG FARMERS. CLUBS INTERNATIONAL TRUST YEAR ENDED 31 MARCH 2025 I￿lDEpENDE￿￿ EXAMINER'S REPORT TO THE IRUSIEFS REGISTERED SCOTfisH CHARrrY No. SC013385 I report on the A¢¢o￿ts of ihe Chotity for the yar ended 31 March 21T25 which arc sct out oo pas¢$ 5 ¢0 8. RESPECTtVE RESPOWSIBILMES ￿ TRUSTEES AND EXAMINBR The Charity'5 TTUStecs aye rV￿lbIe foT Fepr&ion of the Accounts in accordan￿ with the l¢rnJs of the Charities and Tn￿lee Invethent (Scotland) Act 2005 8nd the Clwitieg Ac£ounts (Scotland) Regulations 2006 ( arnendeil). The Ch￿lty Trusttts wtsider that the audit requircment of R¢gulition I￿]xa) to (c) of th¢ 2006 Regulations do¢s aFply. li is my re5pthsibility to examine the Act￿¢S &$ required under section 44(1)(c) of the 2IX)5 Act and to state whether particulx nmtters bave come to my ait¢nlion. BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examination is C￿rIed out in aC￿r￿n(C with Rewauon I l of Clwiti¢s Accounts {Seotland) Regulations 20(h5. An examination induths i Teview of the acLVUlliin8 tecords kept by the ChAriry and a comparison of the A￿oUnts presented with those r¢cotd& It aiy) IJKlud¢5 considerntion of any UN￿Ual itens or disclosures in the Accounts and seeks explanations from the Trnsiees cot)cemiD8 such matter& The procedures undertak¢n do not FThvid¢ all th¢ evid¢nc¢ that would b¢ requirvj iti aa awJiL a]Ml cowucntly I do not apress an audit opini oll view give￿ by the AC￿￿nts. INDEPENDEKf EXA￿ER's STATEM In the course of rny examinatio￿ no m*ter has come to my aiicntion l. which gives rea￿n￿lIe ¢ause to believ¢ thlt in any respecL the rwremeJ*S: tokw accounting Tec￿OS in ac¢cfthce with Se£tion 44IXa) oftb¢2005 A¢tand Regulation 4 tsf th¢ 2(MJ6 Accounts Re￿￿]0￿* and to Prepa￿ Accounts whrh acthrd wAh the accounting ￿ a￿1 ¢onyly with RegulaiioD 8 of the 2CQ6 Acrounts Reg￿atiOnS have not beets or to which. in my (win10￿ attcr*ion sknuld b¢ drawn in Order to enAble a propff understanding of the Acco￿ts to be reaclKd.