THE LAMP OF LOTHIAN TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2025 Charlty number: SC015250 Company number: SC371727 Whitelaw Wells Chartered Accountants EDINBURGH NORTH BERWICK
THE LAMP OF LOTHIAN TRUST REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2025 Contents Page Trustees, Annual Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet io Notes to the Financial Statements 12
THE LAMP OF LOTHIAN TRUST TRUSTEES, ANNUAL REPORT For the year ended 31 December 2025 The Directors, who are also trustees for the purposes of charlty law, present their report and financial statements for the year ended 310ecember 2025. The fin8ncial statements comply with the Charities and TrLJStee Investment IScot13ndl Act 2005, the Charities Accounts Iscotlandl Regulations 2006 las amendedl, the Companies Art 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Prdctice applicable to Charities pieparing their accounts in 3ccordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJECTIVES AND ACTIVITIES Purposes The purposes of The Lamp of Lothian Trust, as set out in its governing document, are to support and encourage the maintenance of a healthy and creative community within the district of East Lothian by: Advancement of citizenship or community development- Advancement of arts, heritage and culture- Provision and organisation of recreational facilitie5; and Promoting charitable purpose5, objects or institutions. Alms and activities The Trust is principally an enabling body which makes available to the community a group of listed buildings at the Poldrate in Haddington. The nearby Haddington House is owned by the Trust and leased to sustain the long-term provision of community facilities. Volunteers In common with many charities. the Lamp of Lothian Trust benefits from the contribution made by volunteers who give their time and talents willingly for its benefit. The areas which rely on the contribution of volunteers are many and varied and much of the activity would be unable to continue were it not for the commitment shown. ACHIEVEMENTS AND PERFORMANCE The Trusys major achievement5 in 2025 were as follows.. 11 Maintained our buildings at the Poldrate for use of the community. In this year we have replaced the boiler in the Mill at a cost of £19,735 and refurbished the lift in the Granary at a Cost of £37,494. 21 Maintain the 8ridge Centre, free of charge for use as Councll run community centre. 31 Ongoing sponsorship of East Coast FM, the local community radio station based in Haddington 41 Sponsorship of Haddstock annual music festival in Haddington 51 Ongoing sponsorship of the Haddington Community Choir, with two concerts at St. Marfs Haddington, in aid of local ch3rities. 61 Providins facilities, free of charge for community use on 2 Floor of the Granary.
THE LAMP OF LOTHIAN TRUST TRUSTEES. ANNUAL REPORT For the year ended 31 December 2025 ACHIEVEMENTS AND PERFORMANCE Icontlnued) 71 Held our regular annual drinks reception for Friends of the Lamp. 81 We have continued our sponsorship of the girls football strips at Haddington Athletic Football Club The Trustee5 continue to support the work of the charity which benefits many and varied, "not for profit organisations~ in and around East Lothian. The Bridge Centre is used as a community centre and between our three buildings The Granary. the Mill and the Bridge Centre some 1100 peoplè of all ages use these buildings each week. The 2nd Floor space of the Granary is co-ordinated by the Lamp and user numbers continue to rise as more and more charitable organisations benefit from free use for varied activities such as Meditation, East Lothian U3A, Haddington Camera Club, Haddstock, Rotary, Association of Community Councils, Blooming Haddington, Generations working together, Haddington Twinning A550ciation and Keep the Heid Mental Health Cafe to mention a few. We continue to take great satisfaction from the extensive number of members of the community enjoying such a wide and varied programme of activltles within our premises. The Granary and Mill continued to be used by the Poldrate Arts and Crafts to deliver their classes and The Lamp 15 delighted to support the arts acTOS5 several mediums. In terms of our Board of Trustees the following should be noted. In my absence as Chalrman during illness, l am extremely grateful to Gary McGregor for Stepping up to Chair the charity and to Jim Shearer Flnance Dirertor and Kim White Administrative A5515tant for Sharing my duties in a m05t effective manner. I would a150 like to extend my thanks to all the trustee5 for support and work this year. Kim White has continued to give trustees invaluable support, Kenny Ingram continues to provide the necessary checks to ensure adherence to health and safety matters. Nikki Campbell a150 continues to do an excellent job in keeping both Poldrate and Haddington House clean. Lynn Palmer, our bookkeeper, continues to do a great job. Their efforts are greatly valued and m3ke the running of this charity a smooth, efficient, and tight operation. Public benefit In considering the operation, achievement5 and performance and finances of the Trust, the trustees are satisfied that public benefit has been provided in accordance with the Charities and Trustees Investment (Scotlandl Act 2005 and guidance provided by the Office of the Scottish Charlty Regulator. FINANCIAL REVIEW The charity recorded a deficit for the year of £28,07112024: surplu5 of £58,090) after net gains on investments. Total income amounted to £143,69912024.' £169,958). of which £38.81212024: £2,5001 related to restricted projects and £104,887 12024.. £167,458) to unrestricted funds. At the balance sheet date, the unrestricted reserves were £2,149,397 12024: £2,175.0591, including designated funds of £1,872,91412024'. £1,872.9141 relating to the properties owned and used by the charity to deliver its charitable objectives. There was a balance of £nil12024'. £2,4091 in restricted funds.
THE LAMP OF LOTHIAN TRUST TRUSTEES. ANNUAL REPORT For the year ended 31 December 2025 FINANCIAL REVIEW lcontinuedl Investment poll¢y The Board, a few years ago, agreed to invest mainly in an Investment Fund with Baillie Gifford rather than handle our own investments. This has been a good judgement and simplifies management and risk and h2s provided healthy returns. Resèrvés polity The unrestricted general fund represents the unrestricted funds not tied up in fixed assets. It also represents the free resetijes of the company. The Board a of the opinion that 6 months annual operating cost5, being £91.398, plus £125,000 contingency to cover future repairs and maintenance of the historic buildings, should be the indicative amount set for unrestricted general reserves. The free reserves, excluding those tied up in fixed assets, at the balance Sheet date are £265,343. The policy is therefore met. Rlsk management The Trustees have a risk framework in place and monitor the risk reElSter throughout the year. Risks are evaluated by assessing probability and severity. Plans for future perlods Promote the Lamp in an effort to increase the Friends of the Lamp of Lothian and identify potential new trustees. Seek opportunities to raise the profile of the charity and generate an increased understanding of our activities within East Lothian and beyond. Raise the Profile of the charity and approach Trusts for funding of potential projects e.g. Haddington Community Choir. Continue serving the community and offering the use of buildings free of charge. Progress the project to upgrade the entrance to the Granary, and improve Signage throughout the Poldrate buildings, in order to create a more welcoming user experience and generate greater public awareness of the Lamp. Build on recent efforts to extend the reach of the Lamp'5 Posltive impart on the community beyond the Poldrate e.g. the local community radio station East Coast FM AND Hadd5tock music festival. Continue to maintain the bullding5 in line with statutory health and safety requirements. STRucfuRE GOVERNANCE AND MANAGEMENT Governing document The Trust was originally founded in 1967 and is registered as a Scottish charity with OSCR. In 2010 it incorporated as a company limited by guarantee and it 15 governed by its Memorandum and Articles of Association.
THE LAMP OF LOTHIAN TRUST TRUSTEES, ANNUAL REPORT For the year ended 31 December 2025 STRucfuRE GOVERNANCE AND MANAGEMENT Icontinuedl Appointment, Inductlon and tralnlng of Trustees Replacement and additional trustees are recruited by the Board as it considers necessary to enhance and replenish its expertise. New trustees will receive induction from the chairman and will be given appropriate training in governance. Organisational structure Trustees take overall financial and strategic planning responsibility. The operational management is the remit of Trustees with the aid of a part-time administrative assistant, appointed in April 2021. The Board meets 4 time5 a year, March June, September and December. The June meeting monitors progress as well as receiving the annual accounts and approving the Annual Report. Group Structure The charity ha5 one wholly owned subsidiary, Haddington House Limited. The company prepares separate financial statements, which are not consolidated in these accounts.
THE LAMP OF LOTHIAN TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI Icontl For the year ended 31 December 2025 Reference and Administratlve Information Trustees: Mrs J Harper Mr G McGregor MrAMcCallum Mr J S Shearer Mrs E F Greville Williams MrSJWKav Provost J Mcmillan Mrs M Patterson Mr5 MA Salvesen ICh3irmanl Ico Chairman) (Vice Chairman) (Honorary Treasurer) (Resigned 3 December 20251 IResigned 2 March 20251 Charlty No: SC015250 Company No: SC371727 Registered Office: Elizabeth Hamilton Buildings Poldrate Haddington EH414DA Independent Examiner: Louise Presslie CA Whitelaw Wells Chartered Accountants The Lighthouse Heugh Road North 8erwick EH39 5PX Bankers: Bank of Scotland 44 Court Street Haddington EH413NP Solicitors: Davidson Chalmers Stewart 12 Hope Street Edinburgh EH2 4DB
THE LAMP OF LOTHIAN TRUST TRUSTEES, REPORT IINCLUDING DIREcfoRS' REPORTI l¢ontl For the year ended 31 December 2025 Trustees, responsibilities in relation to the financial statements The charity Trustees, who are also the directors of The Larnp of Lothian Trust for the purposes of company Saw, are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel- Company law requires the charity trustees to prepare financial statements for each year which give a trLJe and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the trustees are required to= select Sultable accounting policies and then apply them consistentlyi observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in business. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities & Trustees Investment (Scotlandl Act 2005 and the Charitie5 Accounts Iscotlandl Regulations 2006 las amended). The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the preventlDn and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Board and signed on its behalf on 3 lune 2026. Mrs J Harpe Trustee (Chairman) Mr Shearer Trustee
THE LAMP OF LOTHIAN TRUST INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OFTHE LAMP OF LOTHIAN TRUST I report on the accounts for the year ended 31 December 2025 as set out on pages 9 to 24. Respective responsibilities of the Trustees and the Independent Examiner The chariV5 Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment Iscotlandl Act 2005 3nd the Charities Accounts (Scotlandl Regulations 2006 las amendedl. The charitvs Trustees consider that the audit requirement of Regulation 10111 lal to Icl of the Charities Accounts Iscotlandl Regulations 2006 la5 amended) does not apply. It 15 my responsibility to examine the accounts as required under section 44111 Icl of the Att and to State whether particular matters have come to my attention. Basis of independent examinerf5 report My examination is carried out in accordance with Regulation 11 of the Charities Accounts IScotl2ndl Regulations 2006 las amended). An examination includes a review of the accounting record5 kept by the charity 2nd 2 comparison of the accounts presented with those records. It also includes consideration of any unusual items or di5c105ures in the accounts and seeking exp13nations 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 examinerfs statement In the course of my examination, no matter has come to my attentlon.. which give5 me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with 5ettion 44 llllal of the 2005 Act, Regulation 4 of the 2006 Accounts Regulation5 and sections 381, 382 and 386 of the Companies Act 2006,. and to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulation5 have not been met; or 21 to which, in my oplnion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Louise Presslie CA Whitelaw Wells Chartered Accountants 9 Ainslie Place Edinburgh EH3 6AT 3 June 2026
THE LAMP OF LOTHIAN TRUST STATEMENT OF FINANCIAL AcfiviTIES INCORPORATING THE INCOME & EXPENDITURE ACCOUNT for the year ended 31 December 2025 Unlestrlcted Unrestrltted Funds Fund5 General Designated 2025 2025 Re5tiicted Funds 2025 Total 2025 Total 2024 Notes Income and endowments from- Donations and legacies Charit3ble activities Grants Rent Fundraising Investments 44,064 8,812 52,876 59,539 18,000 38,600 30.000 48,000 38.600 16,000 38.600 51.778 4.041 4,223 4.223 Total 104.887 38,812 143,699 169,958 Expenditure on: Raising funds Charitable activities 7,905 113.948 139.392 43,403 182,795 Total 139.392 43,403 182.795 121.853 Net surplus before galn on Investments 134.5051 14,5911 139,0961 48,105 Net gain on investments 12 11,025 11,025 9,985 Net lexpendlturelllncome 123,4801 14,5911 128,0711 58,090 Transfers between funds 12.1821 2.182 Net movement in fund5 125,6621 12.4091 128,0711 58,090 Reconclllatlon of funds.. Totzl funds brought forward 302,145 1,872,914 2.409 2,177,468 2,119,378 Totzl funds carrled foiward 18 276.483 1.872.914 2,149.397 2.177.468 The charity has no recognised gains or1055es other than the results for the year as set out above. All of the activities of the charitable company are classed as continuing. The notes on pa8È5 12 to 24 are an inte8ral part of the financial Statements
THE LAMP OF LOTHIAN TRUST BALANCE SHEET as at 31 December 2025 2025 2024 Notes Fixed assets Tangible assets Investment property Investments Investment in subsidiary io li 12 13 1,384,053 500,000 169.037 1,388,905 500.000 158,012 2,053,091 2,046,918 Current assets Debtors Cash at bank and in hand 14 16,010 121,650 5,942 165,099 137,660 171,041 Credltors: amounts falllng due wlthin one year 15 129,0631 119,5241 Net current assets 108,597 151,517 Total assets less current Ilabllltles 2,161,688 2,198,435 Credltors.. amounts falllng due after more than one year 16 112,2911 120,9671 Net a55ets 19 2,149,397 2,177,468 Funds Restricted funds Unrestricted funds- designated Unrestricted funds- general 2,409 1,872.914 302,145 1,872,914 276,483 18 2,149,397 2,177,468 The note5 on page5 12 to 24 are an integral part of the financial statements io
THE LAMP OF LOTHIAN TRUST BALANCE SHE Icontl as at 31 December 2025 The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for vear ended 31 December 2025. The members have not required the company to obtain an audit of financial Statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for: lal ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006. Ibl preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for each financial year in accordance with the requirement of Settion5 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the company. These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standards IFRS 1021. Approved by the Trustees on 3 June 2026 and signed on their behalf bv.. Mrs J Harper Trustee hairman} Mr J S Shearer Trustee li
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 ACCOUNTING POLICIE5 Basls of accountlng The accounts have been prepared under the historical c05t convention and are in accordance with the Charities and Trustees Investment Iscotlandl Act 2005, the Charities Accounts (Scotlandl Regulations 2006 las amended), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021 (effective l January 20191 and Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective I January 20191. The charity has taken advantage of the exemption from the requirement to prepare a Statement of Cash Flows as permitted under FRS 102 and the Charities FRS 102 SORP. The charity constitute5 a public benefit entity as defined by FRS 102. Going concern The directors consider that there are no material uncertainties about the ability of the charity to continue as a going concern for the foreseeable future. Accordingly. the accounts have been prepared on a going concern bas15. Income All income is included in the Statement of Financial Activities net of VAT when the charity has entitlement, there is probability of recelpt and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.. Donations are included in full in the Statement of Financial Activities when the charity become5 unconditionally entitled to the income. Rental income is recognised as earned, which 15 when the performance obligations set out in the lease agreement are satisfied. Investment income 15 included when receivable. The value of seNices provided by volunteer5 has not been included in these accounts. Income from activities for generating funds is recognised as earned, as the related Services are provided. Expenditure All expenditure is included on an accrua15 basi5 and is recognised when there is a legal or constructive obligation. Expenditure include5 any VAT which cènnot be fully recovered and is reported as part of expenditure to which it relates. Raising funds comprise the costs of fundraising. Charitable expenditure comprises those costs incurred by the charity in the delivery of its a¢tSvities, including governance costs. Governance costs include those costs assoclated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and cost5 linked to the strategic management of the charity. 12
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 Accounting pollcles Icontdl Financlal Instruments Financial instruments comprise financial assets and financial liabilities which are recognised when the charity becomes a party to the contractual provisions of the instrument. They are classified as 'basic" in accordance with FRS102 sll and are accounted for at the settlement amount due whith equates to the cost. Financial assets comprise cash and other debtors. Finantial liabilities comprise other creditors. Pension The charity operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company in an independentlv administered fund. ContributlDns payable are charged to the Statement of Financial Activities in the year they are payable. Funds Unrestricted funds are grants and other income generated for the objects of the charity without further specified purpose and are available as general funds. Designated funds are unrestricted funds allocated by the Trustees for a particular purpose. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure that meet5 these criteria is charged to the fund together with a fair allocation of management and support costs. Tangible fixed assets Tangible fixed a5set5 are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment105ses. Depreciation is recognised 50 as to write off the cost or valuation of assets less their residual values over their useful live5 on the following bases: Heritable property Furniture Computer Equipment Plant & Machinery 20% 20% 20% Heritable property 15 not depreciated. It is maintained in a continual state of sound repair and is tjnderstood to have a current value considerably in excess of its historic cost. 13
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 Accountlng pollcles Icontdl Investment propertles In accordance with FRS102, the investment properties are stated in the balance Sheet at fair value and are not depreciated. Thi5 treatment 15 a departure from the requirements of the Companies Act, which requires that fixed assets be depreciated. However, the propertie5 are not held for the charity's own use but for investment, and in the opinion of the Trustees, depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Gain5 and losses on revaluation are recognised in the Stztement of Financial Activities in the year in which they arise. Revaluations are undertaken on a regular basis to ensure that the carrying amount does not differ materially from the fair value of the asset at the end of the reporting period. Fixed asset investment5 Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured 3t fair value at each reporting date. Changes in fair value are recognised in net income/lexpenditurel for the year. Trans3rtion costs are expensed as incurred. Provisions Provisions are recognised when the charity has a present obligation as a result of a past event, it is probable that a transfer of economlc benefit will be required to settle the obligations and a reliable estimate can be made of the amount of the obligation. Critical accounting estimates and JLEdgements In the application of the Charitfs accounting policSes, the Trustees are required to make judgenient5, estimate5 and a55umption5 about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimate5 and underlying assumptions are reviewed on an ongoing basis. Revision5 to accounting estimates are recogni5ed in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 14
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 Donations and legacies Unrestricted Restricted Funds Funds Total 2025 Total 2024 Cray Trust Friends of The Lamp Evelyn Drysdale Trust Gibson Trust The Gower Trust Poldrate Arts and Crafts Haddington House Limited The Andrew Salvesen Family Trust Garvald & Morham Community Council Stevenston Charitable Trust Max Ward Other donations < £1,000 2,500 10,882 3,000 5,000 1.320 10,500 6,471 500 2.812 3,000 13,694 3,000 5.000 1,320 10,500 6,471 750 9,131 3.DOO 5,000 1,320 io,ioo 12,267 10,000 2,500 2,000 3.000 2,000 500 5,000 2,000 2.891 2,391 5,471 44,064 8,812 52,876 59,539 Included above is restricted income amounting to £8,81212024.. £2,5001. Unrestricted income totalled £44,06412024: £59,539). Grants Unrestricted Restricted Funds Funds Total 2025 Total 2024 East Lothian Council- OCP Fund Tyne & Esk-CLLD Programme 18,000 18,000 30,000 16.000 30.000 18,OOD 30,0¢ 48,000 16,000 Included above is restrlcted income amounting to £30,000 12024.. £Nill. Unrestricted income totalled £18,00012024: £16.0001. 15
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 Investments 2025 2024 Income from listèd investments Interest 2,885 1,338 2,861 1.180 4,223 4,D41 Charltable artivitie5 Community Support Total 2025 Total 2024 Staff costs (Note 71 Events Friends of the Lamp Donations 28,711 4,610 1,921 3,945 28.711 4,610 1,921 3,945 29,925 8,007 1,216 4,059 ort costs Rates & water Light & heat Rep8irs & maintenance Insurance Accountancy fees Legal & professional Printing, stationery & equipment maintenance Telephone Website and internet Postage, advertising & 5undries Depreciation 1,888 15,407 93.078 14,132 2,552 600 1,888 15,407 93,078 14,132 2,552 600 1,848 12,216 13,917 13,235 2,512 11,569 74 1.096 1,175 3,748 5,551 1,378 1,343 4.178 4,852 1,378 1,343 4,178 4,852 Governance costs Independent examinerfs fee 4,200 4,200 3,800 182,795 182,795 113,948 Included above is restricted expenditure amounting to £43,403 12024.. £2,500). All other expenditure was unrestrirted in both the current and previous years. Further analysis of support costs is not required a5 the trustees consider there to be only one type of charitable activity in the year. 16
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 Cost of raising funds 2025 2024 Golf day costs 7,905 7,905 Net Income for the year 2025 Z024 This is stated after charging: Depreciation Independent examinerfs remuneration 4,852 4.200 5,551 3.800 During the year one Trustee 12024: one Tru5teel wa5 reimbursed expense5 of £708 12024- £1,910). No Trustees were remunerated for services as a Trustee in either the current or previou5 year. Staff costs 2025 2024 Wages and salaries Pension cost5 27,344 1,367 28,500 1,425 28,711 29,925 No employee received emoluments of more than £60.000 in the current or previous year. Key management personnel received total remuneration totalling £28,71112024.' £29,925) during the year. The average monthly number of employees durlng the year wa5 a5 follow5: 2025 2024 Administrative staff Tayatlon The company ha5 charitable 5tatU5 and as such is exempt from corporation tax on its charitable activities. 17
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 10. Tangible fixed assets Plant & Computer MachineryEquipment Furniture Herltable Property Total Cost At l January 2025 Additions 23,619 641 3,494 1,372,914 1,400,668 At 31 December 2025 23,619 641 3,494 1,372,914 1,400.668 Depreciatlon At l January 2025 Charge for year 7,756 4,724 513 128 3,494 11.763 4,852 At 31 December 2025 12,480 641 3,494 16,615 Carrying amount At 31 December 2025 11,139 1,372,914 1,384,053 At 31 December 2024 15,863 128 1,372,914 1,388,905 ii. Investment propertie5 Falr value Fair value l January Revaluatlon 31 December 2025 2025 2025 Historlcal Cost 2025 2024 Haddington House 500.000 500,000 Haddington House was revalued on 7 January 2021 by Cuthbert White, an independent real estate advisory, on the basis of £131 per square foot and a running net yield of 9%. The property has therefore been valued by individual with the relevant professional qualification and experience. In addition, the Trustees consider the fair valLJe not to be significantly different from the professional valuation carried out at the previous year end. 18
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 12. Investments Listed investments Fair value at l January 2025 Investments sold Gain on revaluation 158,012 11,025 Fair value at 31 December 2025 169,037 Historical cost at 31 December 2025 114,438 Investments at 31 December 2025 which represented over 5% of the portfolio are: 2025 Z024 Baillie Gifford UK and Balanced Funds 169,037 158,012 13. Investment in subsidiary On 18 December 2020, The Lamp of Lothian Trust acquired the entire issued share capit31 of the newly incorporated subsidiary company, Haddington House Limited, being one ordinary £1 share. The Subsidiary company, number SC683985, is incorporated in Scotland and its principal activity is to manage the serviced lets at Haddington House. The company gifts any taxable profits to The Lamp of Lothian Trust, in so far as reserves allow. During the year, the tompany recorded 3 profit of £10.29512024.. £6,4711 and had closing capital and reserves of £10,29612024.. £6,472). 14. Debtors 2025 2024 Other debtors Prepayments and accrued income Amount due from subsidiary undertaking 1.190 12,348 2,472 1.250 3.932 760 16,010 5,942 19
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOU$ For the year ended 31 December 2025 15. Creditors: amounts falling due wlthln one year 20Z5 2024 Other creditors VAT Accruals Pension 8,676 2.103 18,284 8,676 2,578 8,QS2 188 29,063 19,524 16. Creditors: amounts falllng due after one year 2025 2024 Other creditors 12,291 20,967 17. Retirement benefit schemes The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Trust in an independentlv administered fund. 20
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 18. Fund5 Atl January 2025 Income Expenditure Transfer Between Funds At31 December 2025 Galns Restrl¢ted funds Stevenston Charitable Trust Fund Lift Refurbishment Haddington Community Choir 2,409 12,4091 137,4941 35,312 2,182 3,500 13,5001 Total Restrirted funds 2.409 38,812 143,4031 2,182 Unrestricted funds Generolfunds 302,145 104,887 1139,3921 12,1821 11,025 276,483 Designotedfunds.. Haddington House fund 500,000 Elizabeth Hamilton Buildings Fund 500,000 1,372,914 1,372,914 Total Unrestritted fund5 2,175,059 104,887 1139,3921 12,1821 11.025 2,149,397 Total funds 2,177,468 143,699 1182,7951 11,025 2,149,397 Purpose of restrirted funds Stevenston Choritoble Trust Fund This represents funds donated by the Stevenston Trust for the purpose of providing arts workshops and for painting the interior of the Poldrate. Lift Refurbishment This represents various grants and donations received from Tyne & Esk Local Action Group, The Cray Trust, Max Ward, and Friends of the Lamp specifically to be used towards the costs incurred in refurbishing the lift in the Granarv. Ht7ddington Community Choir This represent5 funds donated towards Community ChDif costs in 2025 by the Stevenston Charitable Trust and the Cray Trust and in 2024 by Garvald and Morham Community Council. 21
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS For the year ended 31 December 2025 18. Funds Icontdl Purpose of designated funds Hoddington House Fund This represents the value of Haddington House. The Elizabeth Hamilton Buildings Fund This represents the cost of The Elizabeth Hamilton Buildings. Atl January 2024 Income Expenditure Transfer Between Funds At31 December 2024 Galns Restricted funds Stevenston Charitable Trust Fund Haddington Community Choir 2,409 2,409 2,500 12,5001 Total Restricted lunds 2,409 2.500 12,5001 2,409 Unrestricted funds Generolfvnds 244,055 167,458 1119,3531 9,985 302.145 Designotedfunds.. Haddington House fund 500,000 Elizabeth Hamilton Buildings Furid 500,000 1,372,914 1,372.914 Total Unrestrlcted fund5 2,116,969 167,458 1119,3531 9,985 2,175,059 Totsl tunds 2,119,378 169,958 1121,8531 9.985 2,177,468 22
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNT5 For the year ended 31 December 2025 19. Analysls of net asset5 between funds Unrestricted Deslgnated Funds Funds Restrirted Funds Total Funds Tangible fixed assets Investment propertv Investments Net current assets Creditors due more than l year 11,139 1,372,914 500.000 1,384,053 500,000 169,038 108,597 112,2911 169,038 108,597 112,2911 Net assets at 31 December 2025 276,483 1,872,914 2,149,397 Unrestricted Designated Funds Funds Restricted Funds Total Funds Tangible fixed assets Investment property Investments Net current assets Creditors due more than l year 15,991 1,372.914 500,000 1,388,905 50D,000 IS8,013 151.517 120,9671 158,013 149,108 120,9671 2,409 Net a55ets at 31 De¢ember 2024 302,145 1,872,914 2,409 2,177,468 20. Related party tran5action5 During the year total donations received from trustee5 amounted to £80512024: £3001. One of the trustees, Abigail Salvesen, is related to the trustees of The Andrew Salvesen Familv Trust, who provided a donation of £10,000 in the prevlou5 year. There were no other transattions with related parties undertaken in either the current or previous year. 23
THE LAMP OF LOTHIAN TRUST NOTES TO THE ACCOUNTS Forthe yearended 31 December 2025 21. Company Intormatlon The charitable company is incorporated in Scotland and limited by guarantee of its members, which has no share capital. The liability of each member in the event of winding up is limited to £1. No one individual had control over the charity during either the current or previous year. 24