REPORT OF ThETRiisfKxs AND
FINANCIAL STATFMRNPS
FOR THZ YEARENDUI S APRIL2124
THE WILLIAM LINDFOUNDATION
B8nn$M)￿J0bll$tsll8m*jay
aiw'i¢r¢d Acojwtaots
213 Stviocetit Sttert
Ghsgow
G2 JQY

THE WILLIAM LIND FOUNDATtON
CONIENTS OF THE FINANCIAL STATEMETr¥rs
FOR THE YEAR ENDED 5 APRIL 2024
Po8t
Report ofth¢Trpst
I to 3
Indtt*nd*nt Kxamknerfs Rwrt
B*l8DtèShe*t
Note4 to theFIDaucial Ststements
7 to 11
Det*11￿ Statément Of Flo10¢ial A¢tfiities
12

THE WILLIAM Lrr4DFOUNDATION
REPORT OF TItK TRUSTEES
FOR THK YEAR EP4DKD SAPNJL2024
Th¢ 1ruste¥$ pw¢nt Tqth the fiDancial Btatcrne￿ts of Ihe cbariry br the yeax ellded 5 April 2W24. The trustees
h&ve adoptsd the provisio￿8 of Accouftttn8 and Reporttsig by Charities.. Stst¢m¢nt of Re￿M[DeDd￿ PrgGti¢a Applicable
to thaTitie5 pwwing their arwunts in acoxdance with the Fin8nciAI Rep)Nin8 Standard 4ppiie4bie itt the UK and
Republic of ItEI8nd (TRS 102) (effedive l J8Luw 2019).
The SLLPPOrt of tha Ctntr for Businx8 History in S¢otlaDd of the Unxversty of Gl*$8ow byvmy of GIQ Grani
Lw Guarantee or such otbet fonn of finsJ¢i41 assi51atiR as the Thistles sbau consider sppmpri&te for the
GeTt￿llY for the gnd ¢ffi¢ieot orpisation of busin￿ records irtdudll￿ without prejudicB to the
fLregokn&'
l. Thc caro use generally 8md for ￿scar￿ and lh¢ disp18y of the FouThdef5 coll￿tion of pLqns. pt]otoEraph5.
pamphlet4 ship m¢)d¢is alldothcrmodd5 aod &rtefi48',
2. The location and surveyin8 of r¢tr)rds of histOTical interest and the weseNAtioTh and reAeue of recoff￿ in dw or
d&%truthiOn;
3. Advict to busiti¢99 organisations on the establisbtlltnt of r¢¢ord5, Man8￿M￿t poliGi¢5 and ￿chiV¢ systems togeth¢r
th advice on the I(￿allon of preservul TecoTd8 or other tecbnical EMtsri81 which moy be of w¢ iu cojuuttction wsth
prnjects Lknm timeto tim
4. The sorting Jistiti8 Ènd advi￿ on ￿t¢￿tIon of ￿cOrd8 to th¢ir pftservatiou ¢ith¢r on bu5iD¢35 pr￿￿12¢5 or
iupub]ic rwJsxtLri¢4'
5. The supw>rt of bodi¢s active in the PT¢servation and public&tiotk of businEss r¢ctsrd$ such &% tho B￿3]ll￿s Ardlives
CoThicil of Scrtland. the Scottish IDdustria] H¢ritag¢ Soci¢ty: thc Scottish RCCo￿ A55QGIat￿n. and
6. To sw)port pub]i(*ions such asthe Journal of SeA)ttislLJmdMstriwl HBtory 8nd und￿epUblICatIc4]8 of lkn oatsjre.
Gmeralty for th¢ bru¢fit ofany cbaritablc fvDds, 50cidi¢5. OWdJJisation5 and 5cIKTtLt5 having objrKts similar to tkn$e of
th¢ frust a]so forthè beneffttsfth¢Royal N￿lO￿AlL￿feBoltJ￿stltirtl0tt or its succe8sor.
Ilic maitt of Charifabir Nttivity 15 the suprnrt of the c￿tr¢ for Busin¢ss Hl8iory In scod￿d of the Untvettlty of
Tkning the year under Teview. income from invthertts de¢re￿￿ frorn £133224 to £131,991. The incoJJe w&q v3ed to
fund trnst exrknses of £43,201 whlch deettawj 55DA fllxn the previous ye￿. AdIn￿LSrI￿Iive eXPBnsc5 have de¢reas
by£434.
the ye#r,trKm&TketvalueofinvestMentsheldatth¢ ye￿•￿d d¢￿taSed byapprnximately2

THI WILLIAM LIND FOUNDATION
REPORT OF TUE TRusr
FOR THE YEAR ENDED S APRIL 2024
DetaI￿of incotnerertlved and d￿10￿8 Jnade durifygth¢yw8r¢ slrn inthe Statanclltof FADThll¢ial Acttvities.
gddin8 illVtstsu¢nt incomt b8nk illtettst and deductiL8 IN5t EXPE￿ sud admiois¢rntive ¢xp¢tss¢s, is
SLllplus of£ll,187. This is ark iDcre4* ofSA.465 from the pr¢viou5 y¢*s surplus of £6.7L.
The Trustees haye ￿SeSsed the Djajor risks to whiGh th¢ ¢hty is ¢xp05¢I ill particular those relatEd to thc finances of
tbe TnL¢ and are satisfied thrt $yste4n5 are in pl￿¢ to mittgate our exposure to the Jn4or risks. The Jnvestmcftlls
rCwJl￿IY rthewed by stockbroke￿ Evetyn Pattsws Ifomwly Ti]ney B£4t TJJve5t), a￿1 the Twstaes are guided in
their investment dccisions by a(1Vi￿ wven by thG st(KkbrokcTS. At 5 April 2024 the vthe of the Tn￿ InvestsDents
¢)urttylto £3543.182os ¢mrthdto al)or*kvalu¢of £L423.146
TheTrJstees retath sufficikntresarves, ail unreslricled, to en4we ihatthe Thut is abl¢ to med itsobieetives.
The Trustets inteod to (¥)utinu¢ th¢it PTE5e]rt practice of mRkiDg Ch￿1t￿ble don*tOn8 ¢0 th¢ Univernity of 01&8gow for
the Centre of Busitw His¢ory.
The Th￿tte3 illt￿d to tmnd up the ch8Tity in a favour of a newly tstsblished Scottish Charttable [nEory￿
Organi8ation. Thc Lilld Foundation Scto {8corish Ch8rity Nutnber SC0536201. The Lind Foutldation SCIO will
continue the of the charity •]￿ th¢ Tnut¢cs have received wment fKDm th¢ Offi¢r of the Scgttish Cbarity
Regulatorto teke this aclio
Coverning docume
The chotity is Controll￿ by its governing docum¢nl a de&4 of)hJst ¢onstitatss th urtin¢ortK>r&l¢d Ch￿lty.
Tbe A£￿ate Foundation wa8 ￿tablish¢d in ter￿ of 8 Dttd of Dedrtion ofTJwst by WillianL Lind datsd 4 AUg￿t
1987 and re8iw¢d 23 Scptrtnkr 1987.
The A8wate Fouthtion ¢l¥nged its ngrne to The WiUi&mLittdFourx&tiott on S August2008.
The Dced of Declaration of norninatcd the first ThLsiees. N¢w *Just¢es are assumed by the exlstin8 Thistees.
There is no fonnai policy for the induction Bnd trayDiDg of n¢w Trwtses, how¢v¢r th¢ Th￿t¢S h&v¢ a broad atld diverse
mix of skills ottd wi]1 seekto remiit n¢wlrustCU 95 andvknrequired
REFERENCE AND ADMINI.STRATIVE DETAILS
SC014805
P￿Delp11 gtMre55
Turcan ConDcII
180 stvin￿t Slr¢4¢
GLASGOW
G2 5SG

REPORT OF171E TRiTsfEES
OR TIIE YKARKNDED 5APRIL 2024
Indep￿dent Etsllthier
BAnn¢JTh8oJobnyfoheMwlay
Ch&rteredAccomtHnts
213 StVinceDtStrt
Gl&8OW
G25QY
AppJvvoJby orderof theb08rd of trustees gn 5 D¢¢¢mb0r2tr24 8nd $i￿￿d0n tsbehAttby:
Pag¢ 3

II¥DEPENDENf EXAMINER'S REPORTTO THKTRUSTEES OF
THE WILU￿ LIF4D FOill4DATION
I report onth¢ ￿Ullts forthe yearended 5 April 2024 sd outott pascs fiv¢ lo ¢l¢ven.
Re4Jective respottgibi]iti25 of trllste¢4 ÈJ¥min2r
The dJatity'$ tsust¢cs are Teswnsible for the preparation of the accourrts in xcord&rLce with the tem￿ of th¢ Charities
and Tn￿lee Investrnent (Scotlat￿l 2005 and the Clwxti¢5 Ar(yJuttt5 ISwtlaTLdl Regulations 2006 las ￿n￿¢d). The
¢lwtty¥ tnjstert ￿nSidEr that tb¢ audit r¢qairem¢rrt of Regulation IOIIMal to {cl of the A¢¢ounts R¢gu]¥tioEs r
apply. It is my responsibility to examine the accounts ￿ reqlltred under SeL#ion 4411)(c) of the Act and to *ate whother
particuiarTuattffs have co]ne ta my attartiotl.
B*815 of theindtpeud¢Dt¢x•miu¢r's report
My exsrninatiou was C￿rIed out in ￿)rd￿ Regulation 11 of thè Cbariti& Ac￿ts (S¢otl4nd) R¢gulation$
21x16. AD examination inclttdes a review of the wllnting recthrds kept hy the clwity and a comparison of the accouThts
pre&Dted with thos¢ records. It lltso includes COTLsidernion of any unusual ikms or di5dosur¢s in the accounts. and
sc¢king ¢xplan8tiotts from you as trLLSt¢es any suth matters. Th¢ procedurt& undertaken &) not provitde all
tho evident* th4t would be rquwed in an audii Col￿eqU¢ll￿y l th) TX)I ¢xpftg$ an wdit opinion on the view in by
th¢ a¢¢ounts.
tneo]Jne¢tiots withmy ex￿Lia￿￿.0n, no m8tterhas wme to my attention:
(l) which 8iv¢J m¢ rewnable cause to b¢li¢ve thaL in any Tllaterial tespeL*. the rew￿￿ent8
to kmp accountiog reaxds iti acoxdam￿ with S¢rtion 44(IXa) of the 2005 Act alld ReKu]ation 4 uf the 2￿]6
ACco￿ts Re8UlatI￿ And
to prepgse xcoullts which ￿¢￿d with the Actountityg rethrd$ and kn eornply with Regulatic￿ J of the 2006
AccOW￿ Rcgulatioos
(21 ￿ wbl¢h. In Jny opInIO￿ attentioo sknoutd te drawn iti order 10 enable & proper ullderstsLding of the accounts to b¢
relchcd.
Banttennan JobD5¢0tte Ma¢lay
artcr¢d A￿¥￿￿￿tants
213 StVits¢¢tst Str¢rt
Glasgow
G2 5QY
5 D￿t￿b￿2024
Page 4

FOR TAX YEAR ENDED 5 APRIL 2024
2023
Totsl
un￿StrICted
fuDd5
JnvestttLaLt iD¢orne
133,206
134.096
EXPKIYDf]iTRX ON
PAisiDg fi]nds
5,106
5,636
116,913
l21,738
Total
I￿,019
IZ7.374
NetgWn￿0OSle5) oninvwtsner
(79,457)
(144.995)
{68270)
(138273)
RECONCILIATIONOF FUNDS
3.750553
3.88&826
TOTAL FUNDS CARRIED FORWARD
3.682283
3.750.553
Tht [￿t￿8 forn) PArt of these fjn8n¢ialslatemellts
Page 5

THE WILIIAM LIND FOUNDATION
BALANCE SHEET
5 APRIL 2024
2024
2023
FIXED A&8KTS
3543.182
3,623.409
C*8h atballk
152,416
147,738
{13J15)
(20,S94)
139,101
127.144
3.682283
3,750.553
NET ASSETS
3,682283
3,750,553
3.682283
3.750553
3.682.283
3,750553
Th¢ finan¢1￿ $tRt¢mellts were arvrov¢d by th¢ Board of Tru8t¢¢s #tsd N￿b￿lS¢1 for i2￿¢ on 5 D¢¢¢rnb￿ 2024 and
signed on 11$ behalfby..
Thenotes fonn partof th4$¢ fijwwlal s18teM￿(S
PAge 6

NODSTO THE FINANCIAL STATEMKNrs
VOR THE YEAR EPIDED 5 APRIL 2(U4
ACCOUNllF4G POUCIES
Bas1# ofprepAriDg tbtfiD8ndal
Th¢ finyDcial stthmcnts of the thaTity. whicll is a public benefit entity uoder FRS 101 have F£ett prep￿] in
ordanc4 Mryth the ChaTiti&4 SORP (FRS 1021 'Atxx>unting R￿Orting by Tharitie5'. Statern￿t of
RecommeDd¢d Pra¢tic¢ w11￿ble to ¢JJ8titl&4 pr¢p2Tll￿ th¢ir a¢cowrts im ac¢ordwK¢ with the Finonrial
RwrtiD8 St4tdard applicable in the UK wjd Rtpubli¢ of Ir¢I￿d IFRS 1ty2) (eff¢Gtive l January 2019),.
Finaneial ReJM)itin8 Statthrd 102 'ThB Fijjancial RepDrtiD8 Standard appli¢abl¢ in the UK and RepubltG of
TrEl3ttd' 8Dd the Chazities ¥JJd Inv¢s¢m¢nt (S¢otland) A¢t 2005. The finatLci415tatements have be¢n
prepaTed undff the Th￿IDn￿L wst wrtvetLtiorL with the cxccption of inyasknents which included at market
V8iu4 ￿ ]nodifiryJbyth¢ rEYaiuationof ctrtotn ass¢t&
IDeome
All income is ￿gnI.$td in the St*empJrt of Financi￿ Activities once the chfytity h8s e¢rti￿e￿OllI to the fimd4 it
is probabl¢thllttho incon￿ will be receivedandth¢ alr￿Unt can be rnC&WTed reliably.
￿4￿ndI￿re
Llabiliti￿ are ￿(￿)￿]Sed 0$ ewditure ss ￿On ￿ there ig a le821 ot coJ]s￿ve oblig4tion wovni¢¢ing the
chwity to that 6Xp￿diturt. it is PTob8ble that 8 1TrJ]sfcT of economic b￿¢fits will bE required in s￿eD￿t and
thc atnount of the oblig8tion bs [ne￿[¢d reliably. Exptndittu¢ is t&￿unte￿I for on Acall￿S basis h&5
been c1￿￿1￿ed uttd¢T h¢adings that agwyte ill ¢ost ￿lat¢d to th¢ ¢atsgory. Whett costs conjjot be dI￿¢￿Y
rtrlb￿ed to p&rticul¥x heddin8s they have been allocated to aetivitie8 on 8 b4sis ¢oosi9t￿l wtth th¢ of
T￿￿tIo
The ¢harity ts ex¢rnptfrc￿tsxan its ¢haritsbl¢a¢tiviti
FuDd atcountlng
Unrestricted fi￿￿¥ ￿ kused in a¢rordBllLEwith theGlwitfjlAE obj¢Gtivty atthc di8c¥etion 0fthetrU￿s.
Restricw fiThds ODly be usd for restrioted puryJoge# withittth¢ objxts of the ¢harity. ResthdionB
arisewlKn 3pxlfi¢d by the donoror whets funts are raispd knrparticu18rrestrict&l purrx)ses.
Fwtherexpl8tthnofth¢ andpLUP04eof¢4th fjJttd is in¢lu¢kd inth¢notcs to thc f￿￿ncilI $tstcmcnts.
20
[knfiX￿ ws¢titivest. FII
Iwsit acwunt iDterest
131,991
1215
133,224
872
133206
134.096
Pag¢ 7
jntinued...

140TLS TO THE FINANCIAL STATEMENfS. condnued
FOR THI YEARMED 5APRtL 2024
RAISfrfG FUNThS
IfjyÈth￿trn&n￿gÈl￿£nteosts
2023
S￿￿kbr0kerfr&Y
5.106
5,636
Thcre were no INwtMs' r¢muller8tioA or other benefits for the yeJT ended 5 A￿11 2024 for the year ¥tsded
5 April 2023.
There wern InJs¢td ¢xpe4Jso5 PAtd fr( theyeor ended 5 Aptil 2024 nor fOrth¢ye4rrt￿rd S April 2023.
Listed
At 6 April 2￿23
Additi¢xk%
Di3posoJs
RevaiuatiOm6
3,623.409
135.080
(135,850)
(79,4571
At 5 April 2024
3.543.182
NET BOOKVALUE
At 5 April 2024
43,182
At S Apri12023
Jh21,4(￿l
There were no investmeni asjets outsid¢ the UK.
C08t or vahJAtion at S April 2024 i8Lrprntrd by..
Listed
Vduotioa iti 2024
3.543.182
Page 8
¢OLlinutd..

NOTES m ThE FINAlYCIALSTAIE￿￿p1tS. contiknued
CREDfffoBS: AMOUNfsFALLINGDUE IVInlIN ONE YKAR
2024
2023
Othercr&ilors
13 JIS
20.594
MOVEME￿ IN FUNDS
movcmcnt
belwccn
filnds
At
5.424
At6.423
unre5￿Cted tunds
Capitsj
Revmue
3.623.409
127,144
(79.457)
11.187
(7701
770
3543.182
139.101
3.750.553
(68270)
3.6W83
TOTAL FtJNDS
3,750,553
(68.270)
3,682283
NdmDveTr)ent in incluwitits 4bov¢ *t¢#s follows:
Yncotning
Gains and MoYcm¢n¢
expended
fthi
(79.457)
(79.457)
11.187
133206
(122.0191
133306
(122,0191
(79,457)
(68.270)
TOTAL FUNDS
133206
(122,0191
(79,457)
(68.270)
C.0mpard￿veS for movemtnt In funds
N¢t
TTansfer5
At
5.423
Ai 6.4.22
in fimds
fvnds
Unrutricttd
Capital
R¢veAU¢
3,773,467
115J59
(144,995)
6,722
(5,0631
5,063
3,623,409
127,144
3.888.826
(l38.273)
3,75QJ53
TOTAL FUNtNs
3.888,826
{138.273}
3,750,553
Page 9

NOITS TOTHK FINANCIAL STATKMEPUS. collthill*d
FOR THE ITARENDED S APRtL 1024
mOV￿mENri￿ FUNDS. tthitinlltd
cA)Mparati￿ ll¢trn(ry¢m¢nt itl fi￿s, included orgas follows..
¢ominE li¢s￿￿re5 GaiAS aThd knvtment
loss¢s
in fijn
Unrutrictttilunds
C8pitsl
R¢v¢nu¢
1144,995)
1144.995)
6,722
134096
(127J74)
134,096
(127,374)
{144,995)
113K.273)
134.096
(127,374)
(144,995)
{138273)
A Lxllr¢nt year 12 months And prioryear 12 monthscombtiwj positioL iq as followÉ.'
Trnnsfcts
At6.422
infimds
5.4.24
UnrtJ¢rkted funth
Capitsi
Revenue
3,773.467
115,359
1224,452)
17,909
(5.8331
5.833
3,543.112
139,101
3,888,826
I21￿.543)
3.682,283
3,888,826
(206.543)
3,682283
A current y¢ar 12 I￿nthS ind prior year 12 month5 (xjmbined nct rnovemqrt in flmd% in¢lud¢d ID the aLx>we
as fol]owG.'
expendtyj
losses
ill fimds
ullrestrfe￿I fundi
pital
(224,452>
(224,452)
17.909
267.302
(249,393)
267.302
1249,393)
(224.452)
1206,543)
267.302
{249,393)
(224,452)
1206.543)
Page 10

NOTES TO THE FINANCIALSTATEMENfs.tollttDued
FOR THE YEAR ENDED 5 APIUL 2024
There ?￿re JK>relatedp8ty tr8tt￿li￿ forth¢ye8r ¢rtde4J 5 April 2024.
Pag¢ 11

THE WILLIAM LIND FOUNDATION
DrrAtLED SrATEm￿ OF FINANCIAL AcnviT
2023
COME AND ENI)OWMBNrs
tnvesrmettt
Other fjxed &sS& inves¢. Flt
131991
1215
133224
872
133206
134,096
lotsl illcomlng resource
133206
134.096
EXPENDTrtJRE
Stod(b]Dker fe¢3
5,106
5,636
6lOOO
15.000
k¥Jrt ¢05
G]a¥gow University
43201
95,122
Governanc£costs
Auditors, ffill￿¢r￿tlon
Accouolancy and legal fees
1112
9,600
2.016
9,600
11,712
11,616
121019
127.374
11,187
Realised rtto8thd goltts ind lo*J
Realised gai￿$1(10s￿es) on &xwJ*sselinves
(22.121)
25,784
Net(¢xpeDdhureyIDCOme
(LO,934)
32,506
This p4ge doeB not foTm part ofthe statsthry fman¢i81 st&tement8
Pag¢ 12