Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC **Scottish Charity No: SC015816** ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** **TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENT** **For the year ended 31 March 2025** Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP T: 0131 228 3777 Ref: SNB.VZE.HAY13 Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **TRUSTEES ANNUAL REPORT For the year ended 31 March 2025** ## **Reference and Administrative Details of the Charity, its trustees and advisors** |**Scottish Charity No.**
SC015816|| |---|---| |**Contents**|**Page**| |Reference and Administrative Information|1| |Trustees Annual Report|2-3| |Independent Examiner's Report to the Trustees|4| |Statement of Receipts and Payments|5| |Statement of Balances|6| |Notes forming part of the Financial Statements|7-9| ## **Trustees** Brodies & Co. (Trustees) Limited ## **Registered Office, Solicitors, Secretaries & Treasurers** Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP ## **Bankers** The Royal Bank of Scotland 26 St Andrew Square Edinburgh EH2 2YB ## **Investment advisers** RBC Brewin Dolphin Sixth Floor, Atria One 144 Morrison Street Edinburgh EH3 8EX ## **Independent examiner** Chartered Accountant Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP 1 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **TRUSTEES ANNUAL REPORT** ## **For the year ended 31 March 2025** ## **Structure, Governance and Management** ## **Establishment of trust** The trust was established by deed of trust by Thomas Charles Stanley Haywood and Mrs. Anne Haywood dated 31 March 1969 and registered Books of Council and Session 9 April 1969. ## **Trustee meetings and selection** New trustees are selected by the existing trustees, and are briefed on the trust's aims, objectives, grant making policy and purposes. At the annual trustees' meeting, the trustees agree the broad strategy and areas of activity for the trust, including consideration of grant making, investment, reserves and risk management policies and performance. The day to day management of the trust is delegated to Brodies LLP. ## **Risk management** The trustees have assessed the risks to which the trust is exposed, in particular those related to the operations and finances of the trust and are satisfied that systems are in place to mitigate exposure to major risks. The trustees consider variability of investment returns as one of the major risks, and therefore the trust uses the services of RBC Brewin Dolphin as investment advisers. The policy is to look for a balance of income and capital growth with a medium risk profile and medium priority for income generation. ## **Objectives and Activities** ## **Trust purposes** The purpose of the trust is to generate income from investments to make payments from income or capital for the benefit of current and former employees and their families of Mr & Mrs Haywood, residents of Oakham & Manton and charitable organisations as the trustees in their discretion think fit. Subject to the above the trustees are to pay or apply the income and at the trustees’ discretion the whole or any part of the capital in or towards the furtherance of such charitable purpose or purposes and in such proportion and in such manner as the trustees think fit. ## **Activities** The trustees make monthly payments from income to one beneficiary and annual payments to charitable organisations. |
charitable organisations.|
charitable organisations.|| |---|---|---| |During the year donations were paid as follows:-||| |Pensions|£|3,312| |Charitable organisations||22,050| ||£|25,362| ## **Grant making policy** With consideration to the trust purposes, applications for donations are submitted to the trustees. The applications are considered annually and a decision is then made whether the application has been successful, and where appropriate, the subsequent level of award. With respect to the pensions and annuities, these are awarded in accordance with the objectives set out in the trust purposes above. 2 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **TRUSTEES ANNUAL REPORT** ## **For the year ended 31 March 2025** ## **Achievements and Performance** The market value of the investments at the year end was £1,547,428.04 (2024: £1,589,584.00) which represents a decrease of 2.7% over the year. The investments produce an overall estimated income yield of 2.5%, which the trustees consider makes sufficient provision for income without prejudicing the ability of the portfolio to benefit from capital appreciation. ## **Financial Review** During the year investment income amounted to £37,715.98 (2024: £41,679.26). Reserves are £1,577,211.41 as at 31 March 2025 in comparison to £1,607,964.64 at 31 March 2024. ## **Reserves policy** It is the policy of the trust to maintain unrestricted funds at a level sufficient to cover current donations, pensions, management, administration and support costs. ## **Investment policy** The trust uses the services of RBC Brewin Dolphin as investment advisers. The policy is to adopt a medium risk investment strategy based on maximising income while maintaining capital growth. ## **Future Plans** By continuing to award pensions and award funding to charities and small local projects, the trust provides a long term commitment to meeting its objectives. ## **Statement of Trustees' Responsibilities** The Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 require the trustees to ensure that financial statements are prepared for each financial year which give a true and fair view of the state of affairs of the trust and of its results for that period. In preparing financial statements the trustees are required to: - select suitable accounting policies and then apply them consistently: - make judgements and estimates that are reasonable and prudent - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the trust and to enable them to ensure that the financial statements comply with the legislation. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The attached Financial Statements have been completed to comply with the trust deed and statutory requirements. Investments have been acquired in accordance with powers granted in the trust deed. Approved by the trustees and signed on their behalf **Brodies & Co. (Trustees) Limited** _Trustee_ 3 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES** ## **For the year ended 31 March 2025** I report on the financial statements for the year ended 31 March 2025 which are set out on pages 1 to 9. ## **Respective responsibilities of trustees and independent examiners** The charity's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the 2006 Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the 2005 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 Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison 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 - 1 which gives me reasonable cause to believe that in any material respects the requirements: - to keep accounting records in accordance with Section 44(1)(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 reached. Chartered Accountant Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP 4 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **STATEMENT OF RECEIPTS AND PAYMENTS** ## **For the year ended 31 March 2025** |**Receipts**
**Note**
Investment income
Investments realised - net
10
**Total Receipts**
**Payments**
Investment management costs
8
Donations
4
Pensions
4
Administration costs
9
**Total Payments**
**Surplus/(deficit) for year**|**Unrestricted**
**2025**
**2024**
**Capital Funds Revenue Funds**
**Total**
**Total**

£
£
£
£
-
37,715.98
37,715.98
41,679.26
24,697.34
-
24,697.34
11,312.59| |---|---| ||24,697.34
37,715.98
62,413.32
52,991.85| ||10,768.55
-
10,768.55
10,111.92
-
22,050.04
22,050.04
48,150.06
-
3,312.00
3,312.00
3,312.00
9,920.00
4,960.00
14,880.00
9,900.00| ||20,688.55
30,322.04
51,010.59
71,473.98| ||4,008.79
7,393.94
11,402.73
(
18,482.13)| 5 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **STATEMENT OF BALANCES** ## **As at 31 March 2025** |Note
**Cash Funds**
Opening cash at bank and in hand
Add:
Receipt and Payments surplus / (deficit)
Closing cash at bank and in hand
**Bank and cash balances**
RBC Brewin Dolphin - cash
Royal Bank of Scotland
Solicitors Special Deposit Account
Brodies LLP - cash|**Unrestricted**
**2025**

**Capital Funds**
£
**Revenue Funds**
£
**Total**
£
406.39
4,008.79
17,974.25
7,393.94
18,380.64
11,402.73|**2024**
**Total**
£
36,862.77
(
18,482.13)| |---|---|---| ||4,415.18
25,368.19
29,783.37|18,380.64| ||8,192.25
(
3,777.07)
5,763.45
19,570.72
13,955.70
15,793.65
-
34.02
34.02
4,415.18
25,368.19
29,783.37|16,245.76
2,134.88
-| |||18,380.64| |**Investments**
Investments at market value
10
**Total Reserves**|1,547,428.04
-
1,547,428.04|1,589,584.00| ||1,551,843.22
25,368.19
1,577,211.41|1,607,964.64| 6th August 2025 Approved on behalf of the trustees on **Brodies & Co. (Trustees) Limited** _Trustee_ 6 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC # **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **NOTES TO THE ACCOUNTS** ## **For the year ended 31 March 2025** ## **1 Basis of Accounting** These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulation 2006. ## **2 Nature and purpose of funds** Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. The trust funds are held in a capital and a revenue fund. The capital fund is invested in the stock market under a discretionary mandate by RBC Brewin Dolphin. Stockbrokers fees and two-thirds of the administration fees are paid from this fund. The revenue fund collects the income from the investments, covers one-third of the trust administration fees and donations are made from the balance. Administration costs have been allocated between capital and revenue on a 2:1 basis. ## **3 Taxation** The trust is a charity and is recognised as such by HM Revenue and Customs for taxation purposes. As a result there is no liability to taxation on any of its income. |**4 Donations made**
**Donations agreed this year :**
Atlantic Salmon Trust
British Deer Society
Collingbourne Kingston Village Hall
Collingbourne Kingston Parochial Church Council
Countryside Alliance Foundation
The Game and Wildlife Conservation Trust
Guide Dogs for the Blind
Help for Heroes
Injured Jockeys Fund
Crimestoppers Trust
(Leicester & Rutland Crimestoppers Trust)
LOROS
(Leicestershire & Rutland Organisation For The Relief Of Suffering Ltd)
Lyndon Parochial Church Council
Manton Parochial Church Council
MacMillan Cancer Support
Marie Curie Cancer Care
Peter Le Marchant Trust
Starlight Children's Foundation
Warning Zone(formerly Leicestershire & Rutland Crimebeat Ltd)
Wiltshire Air Ambulance
Walking with the Wounded
Add : Pensions paid|**2025**
**2024**
£
£
8,310.02
21,360.03
110.00
110.00
1,000.00
1,000.00
1,000.00
1,000.00
100.00
100.00
770.00
770.00
-
500.00
-
2,000.00
1,000.00
2,000.00
550.00
550.00
550.00
550.00
1,500.00
1,500.00
550.00
550.00
1,000.00
750.00
750.00
750.00
500.00
500.00
-
1,000.00
550.00
550.00
2,810.02
11,110.03
1,000.00
1,500.00| |---|---| ||22,050.04
48,150.06
3,312.00
3,312.00| ||25,362.04
51,462.06| 7 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **NOTES TO THE ACCOUNTS** ## **For the year ended 31 March 2025** ## **5 Trustees remuneration** 2024 : £ nil 2025 : £ nil ## **6 Trustees expenses** 2024 : £ nil 2025 : £ nil ## **7 Employees** The trust had no employees at any time during the year (2024: none). ## **8 Investment management costs** **8 Investment management costs 2025 2024** £ £ RBC Brewin Dolphin portfolio management fees 10,768.55 10,111.92 **9 Administration expenses 2025 2024** £ £ Brodies LLP - fees & VAT for year Capital Fund - 2/3 9,920.00 6,600.00 Revenue Fund - 1/3 4,960.00 3,300.00 14,880.00 9,900.00 ## **9 Administration expenses** ## **10 Investments** Investments are quoted on International Stock Exchanges and stated at market value. Investments are reviewed at least yearly by stockbrokers and changes in the portfolio are made on their recommendation. |Opening market value
Less: Disposals at opening market value
Add: Acquisitions at cost
Net (loss)/gain on revaluation at 31 March 2025
Closing market value
Historic Cost
**_Cash movement_**
Investments realised
Investments purchased
Net realised|**2025**
**2024**
£
£
1,589,584.00
1,462,798.00
( 311,433.00)
( 409,122.00)
295,048.58
415,776.39
(
25,771.54)
120,131.61| |---|---| ||1,547,428.04
1,589,584.00| ||1,240,820.27
1,223,510.31| ||£
£
319,745.92
427,088.98
295,048.58
415,776.39| ||24,697.34
11,312.59| 8 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx Docusign Envelope ID: 9A9967D2-87EC-40D5-A482-B60492307EBC ## **MR & MRS T C S HAYWOOD’S CHARITABLE TRUST** ## **NOTES TO THE ACCOUNTS** ## **For the year ended 31 March 2025** ## **11 Related Parties** Brodies & Co Trustees Limited, a trustee, is a subsidiary of Brodies LLP who received fees of £14,880.00 (2024: £9,900.00) during the year. ## **12 Guarantee and commitments** There were no guarantees or commitments during the year. 9 Brodies Acc 2025 Hay_13 31Mar2025 (R+P Ac)(77613692.1).xlsx