I/scA CA107NYJOI MAS CAIiOUNE J B CUTHIERfs CHARITABLE TRUST IThE'CARAM TRusri CHARITY NO. SC013S49 REPORTOFTHE TRUSTEE5 Ind From.. l Ortober 1023 To: 30S•pt•mb•r 2024
ft•port ofthe trusteeslortr V¢•retsd 3DS•pt•mbw 2024 Tho Trustees present thr annual rqport and finaTrcial ststsment5 of the charr(able irust for the year ended 30 Seprember 2024. The fin4n¢lal statemtnt5 have been prepared in a¢cordarK wlih the accountlt)8 policies Set out in note I tothe accounts and Comply With the charSty's trust deed. thè Ch4ritlq% and Trustèo Irw•stment Ikotl•ndl Act 2005, Thé Charitie5 Accounts (Scotlandl ReguLiiion5 20C6 las ameNJedl ènd Accounti 3Thd Reportlng by Charrties.. Staromont of Recommended Practite appllcable locharltles preparlngthelr accounts in accorda•ce ¥Ylth the the Flnancial Reportlng Standard ppll¢able In the VK ind RepublK ol Ireland (FR5 1021 IEffe£tNe l January 20191 The obiectivè$ of the Trust and an indlcltlon of its wlde remlt m•y perh•ps be best explsed by quotln¢from Clause I£QUOI the Trust Deed lise..- "IS££LQi TheTrustees thèll hold, manaie and adminlstertht Trusi E$i4te 0$ 1 CHARITABLE TAUST for the purpose ol maklni donations subscrSptlons or grants or p4yrnents or bentfSts lo •nyother wayfrorn the inccrne •nd if thouaht fi¢ olso from the e•pit•l to such charitable bodie5 or or8anisation5 or purp05e5 IS the Trusiee5 may decidg which Ire r•co8nis•d at the tlm• ol plymtnt as charitable byth¢ Cornm1s51oners of Inland Rewnue DECLARING thar th Trustees shall have sol llscreiion is to which ol the benefKiailes shall benelll from tlme to lime and In what manneror way and io pay out the whole Income of the Trust Estaie In anv ve•r or Ivcirry it lorwafd In whole or In part io latei ar$.. Grmi m•klty polkv Grants afe paid nom)allyfrom tht trust Income to a wlde varlety of charltable bodles Inot indnfidualsl in response to appllcations received and in Implement ol the trust purptrses. OunI the yearto 30September 2024 the rru$tee$ •w•rded 278rintstatallini £48,000, r4nii from £I.0ta £3,00D. Ourtni th• y•irto 305+pt61r 2023 th¥ tru5tO45 awaid•d 24 orints totlllinq E43,cixI, r4n8ih8 from £l.CWto £2,QOD. Th¢ Trysi has undertaken and wlll coThtlnue toundertake Its ¢¥$ityn•ry r•n8¢ 014ctiwties al ol%thkh ire in actordanc¢wlih Its oblectlves. Detallsof transactlons on the ChartlesAJd Foundatlon ¥¢wnt durini the year to 30 September 20248r• d*t•il•d followlni pale..
ReP01th•KO1slofth1 1qno•d3oSePlernb•r2024 Icontd.) Balance stlll to be ut111 a5 èt 30 september 2024 No Paym•nts mide Inthe yeor to 30 S•ptember2024 370. N.8. Th•Caram Trust wlll makg no hJrthqrpaym•nts Intothg abuv• 4CCDunt. The fvnd5 oftheTrust WÈfeestabllshed by In orl8lnal donatlon tythel•te Mrs Cuthbert and subsiaTrUally Sntreased followi the final dlstrlbuilon of Caplt•l from another Trusr known Is the Mltchell Settlement la vne-tenth share olwhkh hid bten 1$5Sined to thÈQiam Trusil. Funds are In¥51 under prof$lOn•1 adWc•. IDve5trnent incorne arlslni dvrlni the yeai totalled £60,77512023,. £5Q,428.41I Ind 8•ln$ l•ll unrealisedl of É216.22212023.. Gains of E54,5901 were Incuffed. TheTrusiees meet •nnually folk11 pr•p•railon olihe annu•l Trust kcounts to 30 kpt•mb¢r. Certiln chawitible don•tionJ ire eon51dered at thJt mettln8 and 181in in lh Summer yew when Trust••$ 4r¢idvls•d of the th•Tr currlrt capitil ind r•v•nu• ¢•sh b4linr•5. Ineidènt•l don•iions rnay b• m•d• at Olh+rtlmes Sn t¥4 at lh• IDstlBatlon ol InthvidualTru$t•rt. poll¢ywd p•rfwffl•• lffi termsof the Oeed. the TnJstees4re empowered ta INest the trust t0$ ITh or¢end th• saffl• on th s•curity ol any hedtable or rpal property or Irty stock5 or shrtt arother 5•curlil•s whetherJuthorSsed bylaw for Investment by the tru5tees01 not. The lrtvestment rA)Ilty Is to m•lntaln a balance 6etweÈn Income and ciprtal irv•Ah. subject to a medlurn deiree oi Sk. The Irwuiment t*rform•nth1s rth•wtd r•8ulorty bv Ihe twsiees.
Rtyort olthe trus¢¢¢s th• yw1•d 505•pteTh•i1024 Icotthl.) The Trustees have con51dEred the rnèjor r15ks to which theTfu5tls exposed and con55der thai there were sufflclent saleguards In place to rnltl8ateiho5e rlsk5. The malor rlsk Is th4t all the fund5 4re hebj by Sjrosirsond thoi ihe asseis are hekl theii n(ynifflEe ILWnPallY. Sar45in have provided the tru$tets wh an ASAE 3402 report thot coTrfirm3 the naminee 1> separ•te from the trading entity. Any ¢ash f¥rsds held by Mitche115 Reberton are proterted under the Law Society of Scotland Prartite Rules 2011 Incorporatini thè SolleltCs IAteountsl Rules 2fpJl. •Mi poII¢y Th• Tfustees retain sufliclent res2r¥e5 toen>ure thot il is•bl•to m¢•t its ov•rh•ids ind objective5. ThÈCbrJm Trust Is a Charli•b Trust set up by the latekrs Carollne J e Cuthbert. by Oeed of Trust dated 2nd june 1969 a*d Yellstertd in the 8trDk5 01 Council & Se35ion on 10th July 1969. Is rocrrfdEd thai in july 2024, Standlake, Oxloidshiie. OX29 w)$ I¢rmalid on 8th February loa4, Actordin8ly, duriil8 ihe accounlinÉ yeaT repvitL'd Ihe TIv51ee5 were...
MTR A•portaf th•tiiiii••sforih• y•r •nthd Jo sw•mb•r2024 IContd.I A•fw•nr••nd dmlthlstr*iiw Inlomiaiiah TNI¢ pr£# Mitchells Roberton Sollcito Georie House 36 North Hanower Street Gla4owfjl ZAD l Ollk• and Sollt Ch•rty N¥mb¢r.' SC013549 Arm5rron4 witson LLP 1st Fbor 24 &lythswood Sqwre Gl•$8OW G2 48G Royal Bank of scotland PLC Gla4ow City 8ianth 10 Gordon Street Glasgow Gl 3PL Sora5in & Partner5 LLP Juxon House 100 St. PaUl'5Chulw¥r London ec4M 8811
THE CARAMTR Réwtolth• tNstttsforth•y•r•hd•d 30 p¢1Mb• 2024 ICoThtd. Trustees, re¥11111es In 14150 tothe fimn¢1 st4t•m•nts The Trv51ee5 are responsSble foi preparln8 an annuol repDrt ond finCIal 5tarements In acco¢dancc with appts'cjble IJW and Unired Klnidom Aiiountln¥ Standards IUnlie¢J Kln8dom ienerally A£cepied Accountini Prilticel. Ch•rity law requlre5 the Tru5tee5 ¢0 prepareor have prepèred on thtlrbehalf Arcount5 for each fln•nti¥l yeirwhich 8i¥e a twt and falr ¥4ew of stte of affairs of The tsram Trusi and of the income and expendituièof The Caraffl Trust for that period. IA prep•rln8 thoie •teaunts, the T(le¢S arq r•quired to".- svlect 5ultsbl• accouniln8pollcles and then appNf them con51stEnfjyi abser¥ethe rnerhods and prlnciF4es of the Ch•rltles SORP., mak• lud8@mont5 3rdestlm4tes thar ale re•sonble and piudent.. state wthether arpli£•ble accountln8 Stindard5 and statemèftts of recornm•nd•d praciice have been lollowed. suble¢t io •ry materlal departures dlsclosed and expl•ined In ihe Ilnanclèl statements, prtpart tht linancial stateTh•nt5 orb the goiryl concern basls unless It15 In4pproprlit• to pie5vme that Ihe charli3b trust 11 cOntine sn existence. The Trustees are responsible for keepln8 proper accountini iecords which di5c105e wilh rÈa50n•ble accuracy at any dme the flnaN¢i41 position of The Caram Trust and to enable them ro ensure thai the accoun15 ¢ornply wilh the Charilles and Trustee InvestrneTht15¢Oll•ndl Act IOOS and the Ch•rltles Aecounts Ikotlandl Re8ul•tion5 2ts)61•s •mendedl. They ar• also resp¢nslble lor safe-8uardln8 the assets of The Caram Trust Ind hèneÈ fov t•kln8 i•isonaty• 5r•ps for th• pr•v•ntSon ind d•t•rtio# otlr4ud 4nd oth•r irr•8ul•ritl¢5, Appro%d b¥ th Trusi•es on ia *WI+ i.)15 ITrusteel on thelrbeh•Wathd as authorlsed ty th¢m
IHECAPAM TrUST Stat•Ml of Artmtkqs lorth• y•v 30P1mbr 2024 Not• Unrel¢tted Re¥trf¢ied Endovmi¢rt FurAI8 Tot1 fvjfftds Totsl Funds Iht•m• ind •ndowm•hts trom Investments M15cellaneousRecelpi Total lfyc<¥n• 60.775 60,775 50,428 2.0 51.421 60,775 f4),775 E•ndllur•oTh th•rtt•bl• I¥1 Charltab donatSons support ¢0sts & In¥¢s1. Choriv5 48.LlXJ S.L67 43,1) L2,876 S•thb 11201 53,167 ioi 55 14•t l•xyndlluv•l b iJ.M•i N•i11055esVialns on Invegirnent5 71b 216.222 216,222 219.196 54.590 N•1 Al•¥qm•fitln 7007 2M,i JL142 Totil Funds brouihl foThv•rd 4,278 1.868.219 1*71,497 2W29J 1.821.35S •72,497
ThECAPAMTAUST 14me•Sh•rt•s•t)O S•pt•mbqr 2024 End•1 Total T0141 Pund 2024 2023 71bl 2.090.579 1¢gDS 2.090.579 1.674.357 1574,357 Totsl Flx•dA5S•ts Cash at bankand in h•nd 21,051 16.4201 14.632 111,017 Tatsi cutr•TrtA3 ?L0S2 144101 14.652 Crediiori•nd 4ccru•li f•lllni ¢u• wiihln ney••r 114.1711 198.141 w•11 076AOB I.17296 TIN•fvs•1lh•£wOty.' Endowment lund RÈst¢i¢led Incomo Funds UThresiiicled Incornefunds 1,076,408 2,076.408 1,868.219 11,È85 11.885 2 088 29J 4.278 1172 497 2 076 4Q8 The Dotes al pai•s 8t0 12 lorm pirt of the5• Iccoun15 Apyoved bYfh•T¢u$tett on I ..TrI ttIr beh•V lid as¥uthDriied bythEm
TMECAPAMTRVST
lllltsb pn th• forth•4 k) So•mb•r 2024
Tht5e nnalI1 #iiementshave been p1¢¢ In com+•nE¢Ilh FRS 102. The FIMncl•l
ReportlniSt•nd4rd •ppli¢oblt In the UK •nd th¢ Reputyli¢ ol Ire, the Sl•t¢ment ol
R•commèn¢lod Pri
THE CNR4M TRiIST Not•S4inth• auountstorth• randed 30 S•piqwthr2014 ICoThtd.I Costsof charilaba(1dr1¢s comprisestarlts Ndeand sthpport COSIS Ihircomprlse all mlni5traiive outsuni5. lrnternJl ceIl audil. leial •d¥ice forlru5teE3. c05t5 assotiittd with ¢on5tiivtionJl Jnd 5tJltrtory requirerneDls Ind 5tr•tq8i< rn•ni8mèht ¢hrwhout the year. Fknl Ihvestments ire a form of bask linandal 1n5trument and aielnltyallyfecoqntsed at thElr transactloTrvilue and subsequeniiy measured at thek loir value 15 ai bal•rKe Sheet date 1r# theclD5iniquoted rnafketprice. The ststemeni of finaTrdal act1v1ts lThdudesthe net ialns and b)s5•5 aiisN on r•valuatlonand disposals throuthout th• ar. The Tfust ¢ow not •£qyt pul QPllty)s, dertv•tibs OrtXher¢tymP¥ fin•n¢k•l In$tryMents. The rnn form ol fln•nck81 nsk laceo b¥thch¥ity Is rha¢ of wlatwiiy In equity m•rket$ and Invisiment maiket5 due ¢0 wlder ecoDomlccondlt)D$. the attitudeol Invesi¢fS to In¥esiment rlik thih8ts in scntlrn¢nt concernlrrfequlties wlthln p•rtkul•r $edor5 or sub strtors. thl G•lThi •nd All illn5 1Dd Iuy4ei are token Ic IbeSt•lementol FlnarKial ArtItleS Is they arlse. Reali5ed ian5 4rd105se5 OD inve5rmeDls are cal<uLited as the diflerenfe between 5a% proceedsano their opniw carryin$ ¥•luè or rbeif purthist valvt If it4ultÈd subsequentto b•lwtqnthe l•irvilu• at lfve 4r1nd and ihtir c•rryiniv•lu•. Aulised •rnd unri•lsed invstmtnl &¥lDS and Ios5t5 ale corntlnEd in IhE Statement ol Finincial Actwitl•5. Th• Ch4rlty Is •x•rnpt Irorn lax on rts ¢hFrtatle aaiwtlqS. Th¢r¢ were no Relited Firtyiran(lIQn5 dufini1beIr. Trustoos Fe¢¢l¥d no •m0mnIl20?j Ér1) and hONpenstsl2025 £nlll. IN¥11¢1A¢•m• io IXSTRI8UTIONS- Unit fryst5- Throu#h SrsiD &Prtn•rn l•ttre$t Throulh Sarisin & PartDeTS SUNDftY RECEIPT5- Thiouih SarisiN & Partners Interest ¢n<ash deposits 59,921 212 49PS3 642 60.ns 1.3Jl Jb Mlxdkinoou5 RK•t 2024 iou Oonation to Th* F•uhdatiOh (madè 29.6.22 che0 in oaymtnt of Iheoohation was Uh¢ashed by o¢ipient, then btcame out of date and stopped by bank. FuDd5 werE (rldiied cktO The Caram Trust clieh1¢t1urtI Mit¢h?Il$ RoiwtPD 2,rJJo.10
TMEC4WI TAUST •t•i•nth• •¢MWtytstslth•lr•hd1d JOS•pthb•r2024 IC4ntd 2024 iou Zo-mar Kllknrn Kirk 3.000.rK 24-Stp KUrn Klik i.coo. 5,000. mm 20-Mar Tlretcomrnunlty 8u51ness Ltd. 10-M•r Th Arth Utyy¢ (rit•TrUst 10-Mar 5t Lf•&)itA19t1n 20.mar The Spartans CmunIty FootbèllA(•dtr 20-M4r Strlméb 20-Mr Sti Wild 11-Mf Edithburih Yout4 Clrnrs 2L-M4r uckity5lllt Lld 21.mir SmtY44$ 2,(th. 2,(Th)o.rxi I,(wJo.co I,oJo.oJ 2,lY)O.(IJ 2,11. 2.W.OQ I,Cl.(K1 I,ow.oo 2,OW,QO 11-Wr Leuchle house 28-r OutthrA(cessTiust forstland 04-Api Lttl¢ VI11£ 12.Ap¢ S¢0tt1th5¢hoo1i Plp•s •nd DnJmsTru¢t I,ow.o) i.rKy).c 17.sep S¢ranpTDwD 17.S•p S¢r•h Aud•my 17-5•p Lllk•s Gr•ham Trusi 17.5ep Tbe Tullothan Trust 18-5¢p Htr•I5 G•rden$ 25-5•p C•nih• Plrtnws 25-Sep Camphlll Vll• Tru51 30.sep Artlln Mtdc41 Rtitt&r< I,(w)o. 2,(W. I.1.¢17 2,IWO.00 2,1.00 I,1.00 Ctynmu Sep 5trithcarrc4) Naspice 2,1M).IX) 20-5ep The Rlfies ArfimerttalTrust 2.IKX).tY) 17-5ep Yark5hlrt lletSeMInalS i.LW.00 I8.0 £ 43,000
ThÉ CArtAM TrUST NDte50n the accountslorthTry•ar•nd•d )OS•pt•mb•i211I4l¢c4.1 2021 Mllche115 Roberton (catall Arm5troniWatson Icapitall ftrfl5trati Du•slCapitall 7,2LK ssl 20 7,771 7.726 MStthells ftoberton (Revenuel ArMstroniW41s0n IR•v•nUi 367 11938 12 76 2013 r•51n LLP lThd•p•nthffl ts•ffllTr•rfs w4fflun•r4tlon Th• Independenl Ex4mlner's rem¥vr•ii¢n con5titut•é • fte of £87612023 £8761 Nx•dAM•I I41fflQn15 1024 2013 l•1 Tot•1 net s¥oteedsfrom dispos111 Le55.' Book vilue dd., nit iiinslllD51e51 on dK4po$4s 21J24 20ZJ Markei value brouiht f•rw•rd Add.. IddItnst0 ifiyestmentsai tosi thsp0541s 4t &¥ryinRv41ut LMS. net 8ainsllk)ssesl on r¥alu4(lon Mirk•t value as at 30 Septomr 2024 1,674,357 2$0,D 180.0001 216 222 1.619,767 54.590 1674.3S7 1024 1023 on Irn*1&ts'. On dlspo$45 Is JbD¥e 216,122 216,222 54.590 S4.5YO 202J LlnltTrusts.Throuth5•r•sln&P4rtn•rsLiP Miin Portlollo Li4uldltyPortfollo IW9m6 L074J57 2mO,579 1.674.357 Tm5hvs Non•
-12-
INE CAOAM IRiIST
Not•ioiithx
-1> THE CPJIAM TRUSr Inthpendent Éxarnlfier'i R•prtt• th•TN#• Th• CarimTN¥l ieport on the accounESof the chanty for the year ended 30 September 2024 whKh Ivmpn5e the Statement olFinan¢rdl klitIes. thE Balance Sheet and the r¢lited wes. Aesp•c¥v• RewnslI1t{e$#171$t• EN•mhw The chariiy'strusttes art responbItfor the preparation of tht iccounti In I¢rdancellh the tetrn5 of ih? CharitSes and Tfustèo Investment ISrott4ndl Art 2005 aThYthe Charities A(cOnIs(SCOf18tsd1 R•8ul•tkins 2LK6 las amondAdl. The charlty trSt¢l$ consldtrthat the aud rtquirernentof Relulation 10111 (•) lo Icl of the Accountsfleiulatlons does noi •pply It is my responslbilityto ern¢ Ihe accountsas reouiredunder Section 4411) Icl ofthekt and to st•t¢wh•thw p•rbcular matter5 have come to my atttntlon. 04$01 Exmln•r'i Stst•ffl•ni mve1aTrnaIb0n iscarrd Qui In accordancèwith R@4ul¥rion 11 of the Chafltles Aceoutyis IScDrlandl Re6ulat920Q6Ia88mÈndedI. An ExarnSnatlon Includes I fe¥lew ofthe ac£ountSni r¢ord3 kEPt by the ch4ntv •nd • ¢omp•ri$4n Of the accoun15 presented wilh those records. 11 also InclLth$ ¢on51deration of aThy unusuil Items or dixlosyt•s Intfv•c¢ount5 •nd Joeks expln¥tlDTrS Irorn thtru4tées toTh¢•rniy anysuch mattors. Th• proc•dur•5 und•rt4k•n do not piowlde all the tvlderrfe thai te reoulied In an audit, Ind ton$•qU•nt I donol expres5 ludIt oplnlon on ihÈvlew ilven by the afcouni$. Ir4I•p•od•rtEx•rnhrf1 Stst•m•nts In the cours¢ ol my XArninatlDn. no rnattei tha5 lom4 to rny att•ntkln'. l. wh5¢h il¥e5 mo iea5unab clu%¢ to btllevt Ibai In any maierlal respett th• r•quirtm•nri.' i• ke•p iccountlns r•(01 if4•¢tord•ts¢• wlth Strct4Dn 44111 lal of the 200S Act 4nd Rtiulii0Tr4 01 the 20D6Accaunts Reivlations., Ind to piowrtaccotsni$knkh accord wh the a¢ctyJntlni r4Yord5 Ind cornplywlth Rrfuthtlon8 ol the 2006Accounb Reiul•tyonk hx*not b¢en rnei or 2. to whl£h, ITh my Onrt, attEntn Should bEdrwin in ord•r to •nable è proper DW l$t Fl¢or 24 BIyihs¥vtstsd Sqar• Glas89W GI 48G