Blackadders
WILLIAM GIBSON TRUST
Account for the year to 26 November 2024.
Scottish Charity No. SCOl3581
10 Euclid Crescent Dundee DDl lAG Tel: 01382 229222 032654-0001
WILLIAM GIBSON TRUST
Report of the Trustees for the year to 26 November 2024.
Governing document and appointment of Trustees
The Trust was constituted by a Trust Disposition 8: Settlement and relative Codicils by William Gibson, some time Merchant, of Valparaiso, Chile, South America and later at Ellieslea, Broughty Ferry, Dundee, Scotland, dated 16 November 1921 etc. and registered in the Books of Council 8: Session on 7 April 1928. The current Trustees were appointed as a consequence of certain Deeds of Assumption and Conveyance executed since the Trust was constituted.
Charitable Purpose
The objective of the Trust is to pay, convey and make over funds amongst UK charities that have one of their objects the relief of suffering or of poverty of any kind or however arising and that in such sums as the Trustees in their sole discretion may select and determine. The Trustees have been able (after careful consideration) to continue supporting a number of deserving charities, particularly various organisations associated with the welfare of ex-servicemen in the light of the previous practice of the founder of the Trust in terms of the founding document. The Trustees meet from time to time to discuss the applications for assistance, distribute funds and to deal with investment matters. There has been no change in this approach nor is any change envisaged for the future.
Trustees and Contact Address:
, Johnston Clark and Blackadders Trustees Limited, all 10 Euclid Crescent, Dundee, DDl lAG.
Trustees remuneration and expenses
The Trustees did not receive any remuneration or expenses in that capacity in the year to 26 November 2024 (2023 - nil). Johnston Clark is a Partner of Blackadders LLP and Blackadders Wealth Management LLP and Director of Blackadders Trustees Ltd.
Blackadders LLP was paid £5,835.00 plus vat (2023 - £3,270.00 plus vat) during the year for management services and Blackadders Wealth Management LLP was paid £2,120.10 plus vat (2023 - £2,345.43 plus vat) during the year for investment advice and administration.
Reserves Policy
The reserves of the Trust originate from original and subsequent capital donations together with the growth in the value of investments. The Trustees have adopted a reserves policy that ensured the continuing ability of the Trust to meet its objectives. Reserves are retained primarily to meet significant requests for financial assistance and stock market risks.
The level of free reserves held at 26 November 2024 was £226,388.82 (2023 - £218,100.27).
Independent Examiner
, Henderson Loggie LLP, Chartered Accountants., The Vis.ion Building, 20 Greenmarket, Dundee, DDl 4OB.
Investment Managers
Blackadders Wealth Management LLP, 10 Euclid Crescent, Dundee, DDl lAG provide advice and portfolio management services. AJ Dell Nominees Ltd h!!ve responsibility for custody of the stock and to provide collection and other service:i.
Approved by the Trustees and signed on their behalf
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Date: 10 ( L- ( l.l.} 'LS
Page 2
WILLIAM GIBSON TRUST
Receipts and Payments for the year to 26 November 2024
| RECEIPTS Dividends Received perSchedule I BankInterest perSchedule II P[Q!::eeds of lovestme□tSale:a per Schedule Ill PAYMENTS Grants Paid per ScheduleIV Investment Management Costs per Schedule V Governance Costs per ScheduleVI Purchase cost ofinvestmentsacguired per Schedule VII Surplus/(Deficit) for the year |
£ £ £ £ |
2024 10,577.36 £ 17.63 £ 41,166.48 £ 51,761.47 £ 7,000.00 £ 2,544.12 £ 7,816.80 £ £ 17,360.92 £ 34,400.55 (£ |
£ £ £ £ |
2023 10,481.57 3.96 31,611.12 |
|---|---|---|---|---|
42,096.65 7,000.00 2,814.51 4,656.00 52,021.33 66,491.84 24,395.19) |
||||
| £ £ £ £ £ £ |
Page 3
WILLIAM GIBSON TRUST
Statement of balances for the year to 26 November 2024
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| Funds | Funds | |||
| 2Q2.4 | 2023 | |||
| Bank and Cashinhand | ||||
| Opening Balance | £ | 13,355.07 | £ | 37,750.26 |
| Surplus/(Deficit) for the year | £ | 34,400.55 | (£ | 24,395.19) |
| Closing Balance | £ | 47,755.62 | £ | 13,355.07 |
| Represented by | ||||
| General Funds | £ | 47,755.62 | £ | 13,355.07 |
| Investments at fair value | ||||
| AJBell portfolio | £ | 181,452.00 | £ | 210,882.00 |
The liabilities of the charity at 26 November 2024 are:
Blackadders LLP their fee for work in the trust for the period of this account of £3,090 (2023 - £4,435) plus vat. At the close of this account £1,690 plus vat was outstanding.
McMillan Audit Limited their fee for assessing Blackadders' fee - £125 (2023 - £175) plus vat.
Henderson Loggie LLP, Chartered Accountants, their fee for Independent Examination of this account of £534 (2023 - £504) plus vat.
Approved by the Trustees and signed on their behalf
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Date: I I Cl. \ z..
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WILLIAM GIBSON TRUST
Notes to the accounts for the year to 26 November 2024.
Accounting Policies
The Accounts are prepared under the Historical Cost Convention. All income is recorded on a receipts basis no accrual being made for anticipated dividends. All expenditure is recorded as paid.
-
2 Grants paid are as detailed in Schedule IV.
-
3 No remuneration or expenses were paid to the Trustees in either year.
-
4 The Trust has no employees (2023 - none).
-
5 There are no material commitments at the close of this account.
-
6 The Trustees continue to monitor performance, particularly investment performance, post year end. Given the level of investments held and planned expenditure going forward, the Trustees consider that there are no material uncertainties about the Fund's ability to continue as a going concern.
Page 5
WILLIAM GIBSON TRUST
Report of the Independent Examiner to the Trustees
I report on the accounts of the Trust for the period ended 26 November 2024 which are set out on pages 2 to 5.
This report is made to the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken to enable me to report my opinion set out below and for no other purpose. To the fullest extent permitted by law I do not accept or assume responsibility to anyone other than the trustees, as a body, for my work or for this report.
Respective responsibilities of the Trustees and Examiner
The Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Trustees consider that the audit requirement of Regulation lO(l)(d) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner's Statement
In the course of my examination, no matter has come to my attention:
which gives me reasonable cause to believe that, in any material respect, the requirements
to keep accounting records in accordance with Section 44 (l)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be
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Chartered Accountants The Vision Building 20 Greenmarket Dundee D014O8
Page 6
WILLIAM GIBSON TRUST
Account for the year to 26 November 2024
| Schedule I Dividend Income Per AJ Bell Nominees Income Account ScheduleII Bank Interest Bank of Scotland - account 00204332 Interest for the period of this account (gross) ScheduleIll Proceeds of Investment Disposals Per AJ Bell Nominees Schedule of Disposals Schedule IV Grants to Charitable Organisations ABF The Soldiers Charity Capability Scotland Combat Stress Dundee Disabled Childrens Association Maggies Marie Curie Memorial Foundation Scotscare (previously Borderline) Royal Air Force Benevolent Fund Royal National Lifeboat Institution Scotland's Charity Air Ambulance |
£ £ £ |
2.Q2.4 2023 10,577.36 £ 10,481.57 10,577.36 £ 10,481.57 17.63 £ 3.96 17.63 £ 3.96 41,166.48 £ 31,611.12 41,166.48 £ 31,611.12 700.00 £ 700.00 700.00 £ 700.00 700.00 £ 700.00 700.00 £ 700.00 700.00 £ 700.00 700.00 £ 700.00 700.00 £ 700.00 700.00 £ 700.00 700.00 £ 700.00 700.00 £ 700.00 7,000.00 £ 7,000.00 |
|
|---|---|---|---|
| £ | |||
| £ £ £ £ £ £ £ £ £ £ £ £ |
|||
| 700.00 700.00 700.00 700.00 700.00 700.00 700.00 700.00 700.00 700.00 |
|||
| £ | 7,000.00 |
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2024
WILLIAM GIBSON TRUST
Account for the year to 26 November 2024
Schedule V
Investment Management Costs
| Blackadders Wealth Management LLP their monthly fees including vat for administration of the portfolio Blackadders Wealth Management LLP for Legal Entity Identifier for five years Costs Blackadders LLP their fee and vat for work in the trust to 26.11.2023 as assessed by Auditor of Court Blackadders LLP their interim fee and vat for work in the trust to 26.11.2024 McMillan Audit Ltd their fee for assessing Blackadders fee for the year to 26.11.2023 Henderson Loggie LLP their fee inc vat for examining the accounts to 26.11.2023 I ost of investments acquired Per AJ Bell NomineesScheduleof Additions II its and cash balances AJ Bell NomineesLtd Investment Account Blackadders LLP Bank of Scotland Account |
£ £ |
2,544.12 | £ £ |
2,538.51 276.00 2,814.51 |
|
|---|---|---|---|---|---|
| £ | 2,544.12 5,322.00 1,680.00 210.00 604.80 |
£ | |||
| £ £ £ £ |
£ £ £ £ |
3,924.00 156.00 576.00 4,656.00 52,021.33 13,318.31 36.76 13,355.07 |
|||
| £ | 7,816.80 47,518.03 237.59 47,755.62 |
£ | |||
| £ £ £ |
£ £ £ |
||||
| £ | £ |
Schedule VI
Governance Costs
Schedule VII
Purchase cost of investments acquired
Schedule VIII
Bank deposits and cash balances
Page 8