Account of the Intromissions of the Trustees of The William Harris Institution
For the year to 31 December 2024
TRUSTEES:-
LEI: 2138009BE95I5P74ZZ63
Scottish Charity Number SC013846
CSK/WIL3988/1
The William Harris Institution
Trustees’ Report
The Trustees submit their Report with the Accounts for the year ended 31st December 2024
Scottish Charity Number SC013846
Principal Address Lindsays
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Caledonian Exchange 19a Canning Street EDINBURGH EH3 8HE
Governing Document
The institution is an unincorporated charity, the purposes and administrative arrangements of which are set out in its Constitution dated 13 March 1874.
Charitable Purposes
The object of the institution as set out in its Constitution is the relief of poverty of pensioners of not less than 52, natives of Dundee or its suburbs or domiciled in Dundee or suburbs for 15 years and with an ordinary place of residence within 6 miles from the centre of Dundee who are in necessitous circumstances.
Activities and achievements
The institution supported 9 annuitants during the year, The grants paid to each annuitant are as shown in the Accounts.
Trustee remuneration and expenses
The trustees or anyone connected with them did not receive any remuneration or expenses during the year (2023-E£Nil).
Reserves
At the close of this account there was a surplus of £ 3188.43 for the year, the institution holds unrestricted funds of £ 139,695.73 at the year end
Approved by the Trustees and signed on their behalf by
Date
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The William Harris Institution
Account for year to 31st December 2024
CAPITAL
| Credit | balance at the close oflast account | 136,852.39 | ||
|---|---|---|---|---|
| Gain on revaluation of investments | 4,606.73 | |||
| 141,459.12 | ||||
| Deduct:- | ||||
| Loss on realisation of investments | 998.30 | |||
| Investment Management | 1,695.12 | |||
| & Independent Examination Fees | 125.00 | |||
| Agents' Capital Fees | 859.80 | |||
| ---------- | 3,678.22 | |||
| Credit | balance at the close of this account | 137,780.90 | ||
| ofwhich, Investments at market value:- | 136,730.00 | |||
| Capital underinvested | 1,050.90 | |||
| REVENUE | ||||
| Credit | balance at the close of last account | 2,034.91 | ||
| Add:- | Investment income | 4,644.76 | ||
| 6,679.67 | ||||
| Deduct:- | ||||
| Payments to beneficiaries | 3,600.00 | |||
| Agents' | Revenue Fees | 1,164.84 | ||
| sapesuees | 4,764.84 | |||
| Credit | balance at the close of this account | wnnn----- | 1,914.83 | |
| 2,965.73 | ||||
| Represented | by: | |||
| Rathbones | Capital | 0.00 | ||
| Income | 1,639.95 | |||
| LindsaysFunds | 1,325.78 | 2,965.73 |
The William Harris Institution
Receipts & Payment Account for the year to 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| Investment Income | 4,644.76 | 4,404.77 |
| 4,644.76 | 4,404.77 | |
| Proceeds from Sales/Distributions | 141,604.12 | 18,235.62 |
| Total Receipts | 146,248.88 | 22,640.39 |
| Payments | ||
| Payments to beneficiaries | 3,600.00 | 3,900.00 |
| Administration Expenses | 1,820.12 | 3,125.00 |
| Agent's Fees | 2,024.64 | 2,034.00 |
| 7,444.76 | 9,059.00 | |
| Purchase of Investments(inc Equal'ns) | 135,615.69 | 13,366.91 |
| Total Payments | 143,060.45 | 22,425.91 |
| Surplus/(deficit)foryear | 3,188.43 | 214.48 |
The William Harris Institution
Statement of Balances as at 31 December 2024
| 2024 | 2023 | |
|---|---|---|
| Investments | ||
| Opening balance | 139,110.00 | 141,377.00 |
| Purchases & Equalisations | 135,615.69 | 13,366.91 |
| Sales & Capital Distributions | (141,604.12) | (18,235.62) |
| Gain / (loss) on sales | (998.30) | 260.62 |
| Increase(Decrease) in unrealised | ||
| appreciation | 4,606.73 | 2,341.09 |
| Market Value as at 31 December | 136,730.00 | 139,110.00 |
| Bank and cash in hand | ||
| Opening balances | ||
| Lindsays Deposit | (543.64) | (1,129.78) |
| Rathbones | 320.94 | 692.60 |
| -222.70 | -437.18 | |
| add: Surplus / (deficit) | 3,188.43 | 214.48 |
| Closing balance | 2,965.73 | (222.70) |
| Represented by: | ||
| Rathbones | 1,639.95 | 320.94 |
| Lindsays Deposit | 1,325.78 | (543.64) |
| 2,965.73 | (222.70) |
All funds are unrestricted.
Approved by the Trustees and signed on their behalf
Date Keb ° 4. 0 AT
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LINDSAYS WS
| - | STOCKS & SHARES - | Go Book |
Valueg= > |
||||
|---|---|---|---|---|---|---|---|
| William Harris Instituation Trust | Purchases/ | Sales | Profit/ | ||||
| WIL3988/1 Shares at Market Value at 31/12/24 |
No. ofshares | Opening | (Sales) | Closing | Proceeds | (Loss) | |
| Aberdeen Asian Income Fund | 7600 | 15,808.00 | 15,808.00 | ||||
| 15/02/24 sale | (7,600) | (15,808.00) | (15,808.00) | 15,048.00 | (760.00) | ||
| 0 | 15,808.00 | (15,808.00) | 0.00 | 15,048.00 | (760.00) | ||
| Brunner Investment Trust | 2030 | 24,360.00 | 24,360.00 | ||||
| 29/01/24 sale | (160) | (1,920.00) | (1,920.00) | 1,821.55 | (98.45) | ||
| 15/02/24 sale | (1,870) | (22,440.00) | (22,440.00) | 22,570.90 | 130.90 | ||
| 0 | 24,360.00 | (24,360.00) | 0.00 | 24,392.45 | 32.45 | ||
| C F Woodford Equity IncomeC Inc | 12000 | 0.00 | 0.00 | ||||
| 01/04/24 Cap Repay % | (506.20) | (506.20) | |||||
| 31/12/24 gain on revaluation | 600.20 | 600.20 | |||||
| 12,000 | 0.00 | (506.20) | 94.00 | 600.20 | |||
| European Assets Trust NV(Reg'd) | 12500 | 11,213.00 | 11,213.00 | ||||
| 15/02/24 sale | (12,500) | (11,213.00) | (11,213.00) | 10,737.50 | (475.50) | ||
| 0 | 11,213.00 | (11,213.00) | 0.00 | 10,737.50 | (475.50) | ||
| Henderson Intl Income Trust | 10000 | 16,300.00 | 16,300.00 | ||||
| 15/02/24 sale | (10,000) | (16,300.00) | (16,300.00) | 15,550.00 | (750.00) | ||
| 0 | 16,300.00 | (16,300.00) | 0.00 | 15,550.00 | (750.00) |
a
| Mercantile Credit Investment | 6,300 | 13,955.00 | 13,955.00 | ||||
|---|---|---|---|---|---|---|---|
| 15/02/24 | sale | (6,300) | (13,955.00) | (13,955.00) | 13,513.50 | (441.50) | |
| 0 | 13,955.00 | (13,955.00) | 0.00 | 13,513.50 | (441.50) | ||
| Rathbones Multi Asset | |||||||
| 19/02/24 | purchase | 122,000 | 134,444.00 | 134,444.00 | |||
| 22/02/24 | purchase | 1,750 | 1,937.77 | 1,937.77 | |||
| 30/04/24 | equalisation | (259.88) | |||||
| 19/08/24 | sale | (3,175) | (3,492.42) | (3,492.42) | 3,627.44 | 135.02 | |
| 31/12/24 | gain on revaluation | 4,006.53 | 4,006.53 | ||||
| 120,575 | 132,889.35 | 136,636.00 | 3,627.44 | 4,141.55 | |||
| Sarasin Global Higher Dividend P | 9,800 | 18,983.00 | 18,983.00 | ||||
| 16/02/24 | sale | (9,800) | (18,983.00) | (18,983.00) | 19,168.80 | 185.80 | |
| 0 | 18,983.00 | (18,983.00) | 0.00 | 19,168.80 | 185.80 | ||
| Securities Trust ofScotland | 10,000 | 21,700.00 | 21,700.00 | ||||
| 29/01/24 | sale | (800) | (1,736.00) | (1,736.00) | 1,701.39 | (34.61) | |
| 15/02/24 | sale | (9,200) | (19,964.00) | (19,964.00) | 20,540.84 | 576.84 | |
| 0 | 21,700.00 | (21,700.00) | 0.00 | 22,242.23 | 542.23 | ||
| Standard Life Global Sm Cos | 9,700 | 16,791.00 | 16,791.00 | ||||
| 16/02/24 | sale | (9,700) | (16,791.00) | (16,791.00) | 17,324.20 | 533.20 | |
| 0 | 16,791.00 | (16,791.00) | 0.00 | 17,324.20 | 533.20 | ||
| Totals | 136,730.00 | 141,604.12 | 3,608.43 | ||||
| Loss on Sales |
|||||||
| (998.30) | |||||||
| Gain on | |||||||
| Revaluation | |||||||
| 4,606.73 |
Appendices
Income
Investment Income
| Investment Income | ||
|---|---|---|
| Aberdeen Asian Income Fund | ||
| 23-Feb-2024 | Dividend on 7600 | 323.00 |
| European Assets Trust | ||
| 31-Jan-2024 | Dividend on 12500 | 184.38 |
| Henderson Intl Income Trust | ||
| 29-Feb-2024 | Dividend on 10000 | 192.00 |
| Rathbone Multi Asset Strategic BondS Inc | ||
| 30-Apr-2024 | Dividend on 123750 | 86.63 |
| 30-Apr-2024 | Dividend on 123750 | 346.50 |
| 28-Jun-2024 | Dividend on 123750 | 346.50 |
| 31-Jul-2024 | Dividend on 123750 | 346.50 |
| 30-Aug-2024 | Dividend on 123750 | 346.50 |
| 30-Sep-2024 | Dividend on 123750 | 346.50 |
| Rathbone MultiAsset Strategic BondS Inc | ||
| 31-Oct-2024 | Dividend on 120575 | 337.61 |
| 29-Nov-2024 | Dividend on 120575 | 1,302.21 |
| Mercantile Investment Trustplc | ||
| 01-Feb-2024 | Dividend on 6300 | 91.35 |
| Sarasin Global Higher DividendPInc | ||
| 27-Feb-2024 | Dividend on 9800 | 126.30 |
| Securities Trust ofScotland | ||
| 19-Jan-2024 | Dividend on 10000 | 152.50 |
| Rathbones Funds | ||
| 25-Mar-2024 | Gross interest | 42.10 |
| 25-Jun-2024 | Gross Interest | 2.95 |
| 23-Dec-2024 | Gross interest | 0.13 |
| Lindsays Funds | ||
| 08-Jan-2024 | Payment in lieu ofclient gross interest for the period between | |
| 04/02/22 and 02/01/24 | 17.99 | |
| 02-Apr-2024 | Payment in lieu ofclient gross interest for the period between | |
| 04/02/22 and 31/03/24 | 10.95 | |
| 03-Jul-2024 | Payment in lieu ofclient gross interest for the period between | |
| 04/02/22 and 30/06/24 | 2:12 | |
| 02-Oct-2024 | Payment in lieu ofclient gross interest for the period between | |
| 04/02/22 and 30/09/24 | 13.29 | |
| 31-Dec-2024 | Payment in lieu ofclient gross interest for the period between | |
| 04/02/22 and 31/12/24 | 26.15 | |
| 4,644.76 |
Appendices
| ! || } | } | | | |
| | | | |
Revenue Payments
Pensions
| 08-Mar-202 | 100.00 | ||
|---|---|---|---|
| 1 1-Jun-202 | 100.00 | ||
| 29-Aug-202 | 100.00 | ||
| 03-Dec-202 | 125.00 | $25.00 | |
| 08-Mar-202 1 1-Jun-202 29-Aug-202 03-Dec-202: |
100.00 100.00 100.00 125.00 |
425.00 | |
| 08-Mar-202 | 100.00 | ||
| 1 1-Jun-202 | 100.00 | ||
| 29-Aug-202¢ | 100.00 | ||
| 03-Dec-202 | 125.00 | $25.00 | |
| 08-Mar-2024 | 100.00 | ||
| 11-Jun-2024 | 100.00 | ||
| 29-Aug-2024 03-Jan-2024 |
eee | 100.00 125.00 |
$25.00 |
| 08-Mar-2024 | 100.00 | ||
| 11-Jun-2024 | 100.00 | ||
| 29-Aug-2024 | 100.00 | ||
| 03-Dec-2024 | 125.00 | $25.00 | |
| 08-Mar-2024 | 100.00 | ||
| 11-Jun-2024 | 100.00 | ||
| 29-Aug-2024 | 100.00 | ||
| 03-Dec-2024 | 125.00 | $25.00 | |
| 08-Mar-2024 | 100.00 | ||
| 11-Jun-2024 | 100.00 | ||
| 29-Aug-2024 | 100.00 | ||
| 03-Dec-2024 | 125.00 | 425.00 | |
| 08-Mar-2024 | 100.00 | ||
| 11-Jun-2024 | 100.00 | ||
| 29-Aug-2024 | 100.00 | ||
| 03-Dec-2024 | 125.00 | 125.00 | |
| 08-Mar-2024 | 100.00 | ||
| 11-Jun-2024 | 100.00 | 200.00 | |
| 3,600.00 |
Agents Revenue Fees
31-Dec-2024 Lindsays fee for administration of the trust for year to date, applicable to revenue 970.70 31-Dec-2024 Vat at 20% 194.14 1,164.84
Appendices
Capital Payments
Capital Administration
| 01-Jan-2024 | Rathbones Management Fee | 750.00 |
|---|---|---|
| 29-Feb-2024 | Michael Marwick examination fee for 2023 | 125.00 |
| 06-Apr-2024 | Rathbones Management Fee | 312.53 |
| 31-Jul-2024 | Rathbones Management Fee | 316.70 |
| 01-Oct-2024 | Rathbones Management Fee | 315.89 __1,820.12 |
Agents Capital Fees
31-Dec-2024 Lindsays fee for administration of the trust for year to date, applicable to capital 716.50 31-Dec-2024 Vat at 20% 143.30 859.80
NOTES
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1 The Investments are shown in the account at valuation.
-
2 Income from Investments is credited to the Income and Expenditure account in the year in which it is received.
3 No Committee Member received any remuneration during the period (2023 none).
Independent Examiner's Report to the Trustees of The William Harris Institution
| report on the accounts of the charity for the period ended 31st December 2024
The charity's 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 charity trustees consider that theaudit requirement of Regulation 10(1) (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.
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity 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 | do not express an audit opinion on the view given by the accounts
- In the course of my examination, no matter has come to my attention 1 which gives me reasonable cause to believe that in any material respect the requirements:
(a) to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
(b) to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
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2 to which, in my opinion, attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
a 4A ene LOZS
Date /3 tess aaa
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