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|`Contents`|||
|---|---|---|
||`Page`||
|`Trustees' Report`||`2`|
|`Independent Examiner's Report`||`9`|
|`Statement of Financial Activities`||`10`|
|`Balance Sheet`||`11`|
|`Notes to the Accounts`||`12`|
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|`Administration Information`|`Administration Information`|
|---|---|
|`Trustees`|`John Malpass - Chairperson`|
||`Dr Helen Kirkwood`|
||`William Bell`|
||`Ian Wilcock`|
|`Administrator`|`Helen Savage (Dr Helen Kirkwood)`|
|`Charity Number`|`SC016517`|
|`Principal Address`|`P O Box 26357`|
||`Crieff`|
||`Perthshire PH7 3AA`|
|`Accountant`|`Nick Cunningham ACCA`|
||`Kelly Accounting Ltd`|
||`42 Comrie Street`|
||`CRIEFF`|
||`Perthshire PH7 4AX`|
|`Bankers`|`Bank of Scotland`|
|`Solicitors`|`Lindsays WS`|
||`10 Blackfriars Street`|
||`Perth PH1 SNS`|
|`Investment Advisers`|`RBC Brewin Dolphin Ltd`|
||`Investment Brokers`|
||`6th Floor, Atria One`|
||`144 Morrison Street`|
||`EDINBURGH EH3 8EX`|
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||||`Year to`|`Year to`|
|---|---|---|---|---|
||||`March 31st 2026`|`March 31st 2025`|
||`Notes`||`£`|`£`|
|`INCOME`|||||
|`Donations Received`|||`-`|`1,250`|
|`Investment Income`||`2`|`60,281`|`68,217`|
||||`60,281`|`69,467`|
|`EXPENDITURE`|||||
|`Investment management costs`||`3`|`14,210`|`10,146`|
|`Charitable Activities`|||||
|`Cost of Grant making`||`4`|`68,450`|`66,450`|
|`Other`||`3`|`4,989`|`3,353`|
|`TOTAL EXPENDITURE`|||`87,649`|`79,949`|
|`NET EXPENDITURE BEFORE OTHER`|||||
|`RECOGNISED GAINS AND LOSSES`|||`(27,368)`|`(10,482)`|
|`Other Recognised Gains`|||||
|`Realised and unrealised Gains/Losses `|`on`||||
|`Investment Assets`|||`150,252`|`10,784`|
|`NET MOVEMENT IN FUNDS`|||`122,884`|`302`|
|`Reconciliation of Funds`|||||
|`Total Funds Brought Forward`|||`2,053,119`|`2,052,817`|
|`Total Funds Carried Forward`|||`2,176,003`|`2,053,119`|
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||||`March 31st`||`March `|`31st`|
|---|---|---|---|---|---|---|
||||`2026`||`2025`||
||`Notes`|`£`|`£`|`£`||`£`|
|`FIXED ASSETS`|||||||
|`Investments`|`9`||`2,151,701`||`2,025,230`||
|`CURRENT ASSETS`|||||||
|`Debtors`|`10`|`1,924`||`4,041`|||
|`Cash at bank & on hand`||`25,969`||`27,028`|||
|||`27,893`||`31,069`|||
|`CREDITORS`
`: amounts falling due`|||||||
|`within one year`|`11`|`3,591`||`3,180`|||
|`NET CURRENT ASSETS`|||`24,302`|||`27,889`|
|`TOTAL ASSETS LESS CURRENT LIABILITIES`|||`2,176,003`||`2,053,119`||
|`THE FUNDS OF THE CHARITY`|||||||
|`Unrestricted Income Funds`|`12 & 13`||`2,176,003`||`2,053,119`||
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|`2 `|`Investment Income`|||
|---|---|---|---|
|||`2026`|`2025`|
|||`£`|`£`|
||`Income from Listed Investments`|`42,469`|`61,618`|
||`Interest received`|`17,812`|`6,599`|
|||`60,281`|`68,217`|
||`All investment income relates to unrestricted funds`|||
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||`Other`|`Grant Funding`|`Total`|`Total`|
|---|---|---|---|---|
||`Costs`||`2026`|`2025`|
||`£`|`£`|`£`|`£`|
|`Costs of Generating Funds`|||||
|`Portfolio Management Fees`|`14,210`|`-`|`14,210`|`10,146`|
|`Charitable Activities`|||||
|`Grant Making`|||||
|`Grant funding of activities`|`-`|`68,450`|`68,450`|`66,450`|
|`Support Costs`|`4,989`|`-`|`4,989`|`3,353`|
||`4,989`|`68,450`|`73,439`|`69,803`|
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||`4 `|`Grants Payable`||||||
|---|---|---|---|---|---|---|---|
|||||`Grants to`|`Grants to`|`Total`|`Total`|
|||||`Institutions`|`Individuals`|`2026`|`2025`|
|||||`£`|`£`|`£`|`£`|
|||`Grant Making`||`3,600`|`64,850`|`68,450`|`66,450`|
|||`The number of grants awarded `||`in the year was as follows`||||
|||`Grants to Institutions (incl. schools) - 10, Grants to Individuals`
`- 283.`||||||
|||`Grants to Institutions`|`relating `|`to Grant making comprise`||||
|||||||`2026`|`2025`|
|||||||`£`|`£`|
|||`Grants to schools`||||`1,200`|`1,750`|
|||`Butterfly Trust`||||`-`|`-`|
|||`Other Grants under £1,000`||||`2,400`|`2,300`|
|||||||`3,600`|`4,050`|
|`S`||`Support Costs`||||||
|||||||`2026`|`2025`|
|||||||`£`|`£`|
|||`Stationery and Postage`||||`802`|`806`|
|||`Web Site Design & Creation`||||`1,620`|`387`|
|||`Administrative support `|`costs`|||`1,005`|`960`|
|||`Independent Examiner's Fee`||||`1,200`|`1,200`|
|||`Bank Fees`||||`2`|`-`|
|||`Equipment expensed`||||`360`|`-`|
|||||||`4,989`|`3,353`|
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|`Fixed Asset Investments`||
|---|---|
||`Portfolio`|
||`£`|
|`Market value at April 1 2025`|`2,025,230`|
|`Additions at cost`|`1,002,085`|
|`Disposals at market value`|`(1,025,866)`|
|`Change in value in the year`|`150,252`|
|`MarketvalueasatMarch312026`|`2,151,701`|
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|`10`|`Debtors`||||||`2026`|`2025`|
|---|---|---|---|---|---|---|---|---|
||||||||`£`|`£`|
||`Other debtors`||||||`1,924`|`4,041`|
|`11`|`Creditors`|`: Amounts `|`falling due within one year`||||||
||||||||`2026`|`2025`|
||||||||`£`|`£`|
||`Sundry Creditors`||||||||
||`Accruals`||||||`3,591`|`3,180`|
||||||||`3,591`|`3,180`|
|`12`|`Funds`||||||`Recognised`||
|||`Balance at`|||`Incoming`|`Resources`|`gains/`|`Balance at`|
|||`1.4.2025`|||`Resources`|`Expended`|`losses`|`31.3.2026`|
|||||`£`|`£`|`£`|`£`|`£`|
||`Unrestricted funds`||||||||
||`General`||`2,053,119`||`60,281`|`(87,649)`|`150,252`|`2,176,003`|
||`Restricted `|`funds`|||||||
||`Total Funds`||`2,053,119`||`60,281`|`(78,151)`|`150,252`|`2,176,003`|
|`13`|`Analysis of net assets `|||`between `|`funds`||||
|||||||`Restricted`|`Unrestricted`|`Total`|
|||||||`£`|`£`|`£`|
||`Fixed Asset `|`Investments`||||`-`|`2,151,701`|`2,151,701`|
||`Current assets`|||||`-`|`27,893`|`27,893`|
||`Current liabilities`|||||`-`|`(3,591)`|`(3,591)`|
||`Total net assets`|||||`-`|`2,176,003`|`2,176,003`|