SAP/SCA DA0419-0002 THE scorr.DAVIDSON CHARThABLE TRUST Scottish offi Charit*s No.. SC015935 TRUSTEES. ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 8 008£R 2024
IHE SCO.DAvID5ON CHARttA8LETRUST Report ofthetntstees for the end¢d 8 Oclol*r 2024 Referen and admsnistrative inforrnthn Trustees Pr¢nciod Office and Solicitors Mtthe115 Robertortr Solicit(xs Geor8e House 36 North HoneT Street GlasEowGI 2AD rity Nurnr. K015935 8ankers The Roy31 Bank of Scotland PLC Glaseowclty Branth 10 Gordon Street Glas8owGI 3PL InvestmentAthiser Rathbones Investment Mafta8Èment Grge Noe SOGeorge Square Glasg¢>wG2 IEH
IHE S(OTh.DAVIDSON CIIARITABLE TRUST Report ofthe Ifttst forthe year ?nded 8 Ortober 2024 (Contd.) StructUfE goVernae aml manaE•nffit F¢ndin Documents and Trustees The Scott-oavidson Char¥tsble Twst is an unincorporated tharItab trust established in 1983 by the late Walter W¥Niam Scott-Oavic150n in terms of his Trust tssposition and Settlement dated 12th August 1983 and frfteen relaii¥E Codicils. The main tharitable provisions are contained in the thdKil dated 16th N¢Jmber 1986. The Trustees are aprA)inted irÈ accothncewiih theterm50f the Constituent Tnjst During the accounting 8T reported on Trustees were:. Ris maalent Thè trustees have con%dered the major ri5kstowhichthe char4tat4e tnJst i%expo5ed. Thy reviewed those risks aAd established $ysten and proceduies to manoge them. 04etd¥es and a(tivitles The trust piwpose specified in the frndIn6 downents 15 to wThide for payment of the whole orsuth part of the f¥ee income of the TIu5t a5 the Trustees in thelr absoluie scretion Thayfrom time to timedeEide foi SLKh dwritaile purpose$ 411¢..udirtg payments to orftjr the LEnefitof ¢r*dividuats or to such charrtable ins[ff1O, 9xÈtles. foundationsorfunds a5 the Trustees in Ihelr absOle select. The Tnstees &150 have full wwer at theor abSe dtscretion w encroxh upon neossary.
THE ScoAvIDSOPl (HARITA8LÈ7Rusr Report of the tru5tee5 forthe yew ended 80rtober2024 {Contd.I Grant making poliry TheTrustee5 award grants in attordance with the Tntst Deed. DUrig the year to 8 Oct¢)ber 2024 expendrture on tharitable aclivities wa5 £22.C compared WFih £22.215 fw the prets year. The Trustees have undertaken and will continue to undertake their (toMary range of actiwties all of which are in accordan(e withthetemts of theTrusL Financial Review Investment income arisir dufjng the year totalled £23,035 (previous year £19.9051. Investment poli¢yand performarKe In terms ofthe founding documents, theTryee5 are empowered to inst the trust funds in or nd the on the 5ecurrty of any heritable or 81 pioperty any sttjcks or shares or other cutitse5 whether 3hOr[Sed by law for investment bytfustees or not. The Strategy adopted bythe Trnsrees is to proiett the undertryin8 value of the capital whilst focussin8 on 8eneratin8 incometo allow the dwityio attain its objectives. Investment deciyons are made bythe Tnstees after tonsultstion . and on considering the advice ol. the St(kbrokers who are aw3rÈ of the strateKy adopted. The stockbrokers prepare valuat*Jns and reports annualty. The wNrfolio ts reviewed regujarty. ReseNes poli¢y The Trustee5 retain sufficient Teserves to ensu that it is able to meet its overhe and objectives.
THE SCOTt-DAVIDSON CKARITA8iE TRUST Report of the trustees for the 8T Ènded 8 2024 {C4)ntd.I TnFstees' responsibililies in relationto the finamiat strtements Chèrity lèw requirès the Trustees to prepaie or have prepaied rm their behatf Aciounts for èach linantial yÈar whith gtvÈ a iruÈ and fail wew of the state of affairs of the Trust and of the income and expendrturÈ of thè Trust for that period. In preparFn8 tse accounts. the frustees are reQuid to'. select suitsble aCctIn8 polioes and then applythem tonsi5tently Make judgements and *¥mate$that are reasonableand yuéent prepare the Accounts on the orgoin8concern basis unless it is inapproprk2te to prp5ume that the tha[btsb trSt wll tontihue in e¥isten,. The TIu51ees are respofj5ib for keeping proper accountsng ordS •th discbse with reasonable acturècy at any time the finantiil posrtion tsfThe Scott-DaYKIso charitib Trust and to enable them to ensure that rhe accounts comply wtth the Charities and Trustee Investment {sElan) Ati 2(MJ5 and ihe Charilies Ac£¢unts Isirjilèndl Regulations 2006, la5 anEndedl. They are a150 re5PQll54ble fof safe gUardig the a55et5 of The Swtt-D3vid50Tr Charitable Trust and hence for takn.ng reasonable steps forthe preventK¢n and detection of fraud andotheT Irregular¢ies Approved by the trusiee5 on............................... and g8ned (ffi their behaff Date..... Zoz
7HE SCOTh-DAVID50N CHARttA8LE TRLIST NDEPENDENT EXAMINERS REPORTTO THE TRUSTEES OF THE sCO-DAVIDPl CHARifAbLE TRUSr YEAR ENDED 8 ocfoBFR 1024 I report on the accounts ofthe Charityfc the yeaf ended 8 October 2024 which are set out on page5 7 to 10. Respectl¥e responslbilities of trustees ayrfl examlner The Charity's Tru#ees are responsible for the preparèiion of the accounts in attordance with the iem)s of the Charities and Trustee Investrnenl Iscotlandl Att 2005 at7d the Chanties Accounts IScodandS Regulation5 2[ las amendedl. The charsW5 tTUStees consider thatthe audtt requirement of Regulation Iolllldl of the 2006 Accounts Regulations doe5 rt app. It is my Tespon5ibility to examine the accounts as requThl under section 44IIMcl of theAct and to stste whether particular matters habt corne to my attentth. Basis of iTependent exarnirrfsstatement My examinati¢ is carried out in accordance with Regulation 11 of the 2¢X)6Accounts Regulations. An examination indudes a revw of the accoun1j ie(ords kept bythe Chafity and a comparison ofthe atcovnts presented with those records. It includes consideiation ol any unusual items ordi5c105ure5 in the account5. and Seeks explanatior5s from the Trustees conteming anysuch matters. The procedures undertaken to do not provide all the eviden that would be requ>red in an audir. and tonsequenuy I do not express an audit opinion oft the view gNen bythe account& Independefftt evmlnee5 51aternent In the COUT5e of my examfv)atw)n. rn matter has come to my attention l. which gtves me reaSOnabcaUse to believe that in any material respett the requirements: to keep accounti rec5 bn aCcwdanCe7th Sectw 44IIKal of the 21X)5 Act and Ilegulation 4 of ihe Accounts Re8ulatKJns and to prepare accounts thich xcord with the accounting records and COMP with ReWJ1aTr 9 of 2(I)6Accounts Regulations have not been met or
ThE5C(I4>A¥lDS1XIcHA1ABLETRI1ST IP4QEPP4LKNfEXAMINWSRfPORTTOTHEIRUSTELSCf THESCOTT4>AVIDSON CHAIOTABiETrusr YEAR ENDED8 (ffOBER2024 2. towhich. in myopinian. attention thould bedr•Afn ordtrtoenablea prop urdUst1S0fthe0cCcUntSto berhl.
2024 Z023 RecÈipts Investment Inco¢r Total intsjffle 23,035 23.035 19.905 19.905 In¥esvnentSales/Equaltsaiv)ns 179. 1,491 Total receipts 20Z.188 21.396 Pa¥ments Pay7nents forCharrEab activit". Grants Total paymentsfortharktsble 22,(#XI 22.21S 22215 Governance Costs.. Sto£kbrokeV5 administration Law Agent's fee Independent examiner'5fee Tot31 gLvemanre costs 5.515 5.251 275 260 7.311 Investment Purthases 179386 io,ryJo Totsl payTheDts 208.976 39,526 SurpWIDÈft511 forp {6.788) Cash Fumdslastytarend Cash FthIS year efid 49554 42.766 67.683 4954
ush kn h•nd Opailr¥ iwlBnces rplusl{Deficft)foryw aDnbe$ 49551 (&7881 417fj6 67,683 I.130) 49J54 54OJ41 - 3ULy , 20 4)n thÈirbehaYby
THE sCO-DAvIDSO1j CHARITABLETRU Notes on the actounts for the ¥eaT tnded 80cEober2024 T¥ustees received noemolvments12023 £nill and no expenses (2023 £nbll. 2024 2023 DMDENDS. UK ewities FIXED INTEREST- UK DIVIDENDS- UX UnitT¥usts INTEREST- UK Unit Trusts DIVIDENDS- Inve51me¥rt Twsts DIVIDENDS- UK equ•eS IPIDS recer¥ed gross} DIVIDENDS- else0$ Secwities Eoubtie5 BANX lfEREsT 8.133 3.174 2.714 1597 424 1,645 7,503 1,419 3,881 1.768 416 1.269 2,925 726 19.905 661 I335 Investment saleslequalisatioTrs 2024 2023 Receipts from sales/equalisations I.153 1.491 2023 ChartEabie nts 2023 18-Oct National Youth Choirof Scotland. Perth ReEional Choir 18-Oct Seamab 18-Oct Regtonal Screen Scothnd Igoct Kinross VonIer Group- Rbjfal Ovtrea¢h Stheme 19-Oct Rural Atcess Committee of Kinross. 2ThJ of3 tnstalnn 25-Oct A Moment's Peace TheatTe Cornpanv 2024 25-Jan ErskiTre Hospttal 26-Jan Children's Music ndatiOn in Scotland Ltd- Perth Pr(ye¢i 31-Jan Kinross & DF5tFlCtJunioT AEricultural aub 01-Feb Perthshire Societyof Natural Suente 15-Apr RSNO Society Ltd- 2nd instalment of 3 instalments 21-Jun Scotland's Air Ambulance 21-Jun Eastern Amateur Coastal ftow1 aub 21-Jun The 8enedetti Foundation 28-JuTh Cleish Village Hall Association 28-JLtn King Ge0e V playi Field ttlopment 1.SC(I 1.5L¥) 2.5( 250 1250 22.215
-iO- THE SCOTT.DAVII>SON alABlE7RVST Notes on the acwuntsfortht yew ended 8 Odober 2024 Icontd.I Governance costs 2024 2023 Stockbroker's administrat law Agent'sfee Independent eKaminersfee 5.51S 5.251 1.800 275 7590 7.311 2024 2023 Acquisitions 179386 lo.7 Bank and cash kn hènd 2024 2023 Cash held by MTlche115 Roberton lal Cash held by Mitchells Iloberton Ibl Cash held by Rathbones. Czprtal Cash held by Rathb(- Revenue 17.685 io 23.237 1,834 41766 19.576 io 28,98S 49.554 2024 UK equities UK fvAeil tnterest UK urtit noTrinterest UK unit trusts intete5t beari Other income Ipropertyl Overseas seoJritRs equities 2(rJ.686 96,647 8841 61,233 25.580 159.314 64OJOi 198,799 40.414 127,593 49,793 20,424 143,318 580341