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← Baird Trust

2025-12-31-accounts

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THE BAIRD TRUST

Report and Financial Statements For the year ended 31 December 2025

Registered No: SC235853 Registered Charity No: SC016549

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THE BAIRD TRUST

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Directors’ Report

for the year ended 31 December 2025

The Directors present their report and financial statements for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019).

Objectives and Activities

The principal objective of the charity is the provision of grants for the maintenance and repair of church buildings although it may also grant aid to other activities of the Church, especially in the field of education. The charity also provides grants to other organisations (not necessarily churches) that further any of the charitable purposes of the charity. In the period the Directors continued to award such building and repair grants and sundry grants. Information on grants is available from the charity's website at www.bairdtrust.org.uk.

The charity has no connection with any other body, but it shares an office, staff and certain administration expenses with The Ferguson Bequest Fund (Scottish Charity No SC04839), Renfield Street Trust (Scottish Charity No SC42456) and Sir J Donald Pollock's Trust. (Scottish Charity No SC043316)

Achievements and Performance

The charity continued to support churches across Scotland by providing a range of grants. The Directors view the performance as satisfactory.

Financial Review

The Statement of Financial Activities shows net expenditure for the year of £1,820 (2024 — Income £12,083). Realised gains on sales of Investments amounted to £143,524 (2024- Losses £39,379) and Unrealised gains amounted to £1,671,142. (2024- Gains £391,628)

A total of £15,096,905 was retained in accumulated funds at the year end (2024 — £13,284,059). At the end of the year the market value of investments was £14,989,828. The value of the charity's investments increased very much in line with the world wide increase in Stock Market investments during the year. During the year the Trust rented out a floor of the building at 182 Bath Street, Glasgow which had been bought in 2024 as an Investment.

In the period the Directors voted building and repair grants amounted to £113,000. (2024: £105,000). The total of sundry grants was £199,000. (2024: £170,000). The total of Ministry Training grants amounted to £1,000. (2024: £17,000).

Investment Policy and Performance

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In accordance with the Memorandum of Association, the Directors have the power to invest in such stocks, shares, investments and property in the UK as they see fit. The Directors appointed Rathbone Investment Management Limited as investment advisers. The policy was to adopt a medium risk investment strategy based on maximising income. The Directors have considered that this investment strategy has achieved its objectives during the current year by producing sufficient income during the year to cover costs and grants payable.

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THE BAIRD TRUST

Directors’ Report for the year ended 31 December 2025 (Continued)

Risk Management

The Directors implemented a risk management strategy which monitors and assesses the major risks to which they are exposed. This comprised an annual review of the risks which the charity may face; the establishment of systems and procedures to mitigate those risks identified in the risk assessment and; the implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise. The principal risk relates to Investments which may fall in value or produce a lower return resulting in having to pay out less or lower grants. This risk is managed by employing a firm of investment advisers who regularly report to the Directors.

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Reserves Policy

The General Fund represents the free reserves of the charity. The General Fund balance as at 31 December 2025 amounted to £15,906,905. Hence, total free reserves as at 31 December 2025 was £15,906,905. This represents approximately 37 years of expenditure. The Directors believe that this is an adequate level of reserves.

Plans for the Future

The Directors propose to maintain grants at a level at or about the income received from investments and interest after taking into account running costs. The Directors will continue to carefully monitor the value of investments

Structure Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Organisational Structure

The Directors meet quarterly and determine policy as well as reviewing finance and determining grants payable. Day to day management is carried out by the Company Secretary who is an experienced Chartered Accountant.

Recruitment and Appointment of Directors

The Directors of the company are drawn from the members’ representatives. Under the requirements of the Memorandum and Articles of Association, the Directors are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

The following Directors retire by rotation and being eligible, offer themselves for re-election:

WH Barbour

CBC Ball

R Callander

The appointment of Ms C Spragge falls to be confirmed as a Director

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THE BAIRD TRUST

Directors’ Report for the year ended 31 December 2025 (Continued)

Director Induction and Training

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New Directors are encouraged to attend induction sessions to familiarise themselves with the charity and the context within which it operates. These cover:

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Directors receive an annual update on their responsibilities.

Remuneration of Key Management Personnel

The Directors consider the Board of Directors and the Company Secretary as the charity’s key management personnel, in charge of directing and controlling the charity. All Directors serve voluntarily. Remuneration of the Company Secretary is set to recognise his responsibilities and professional qualification.

Grant Making Policy

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This policy is detailed in the Memorandum of Association of “The Baird Trust’. Grants are made to assist in the building and repair of Churches and Halls, and generally assist in the work of the Church of Scotland or other Churches in Scotland or beyond. Grants are also made to other organisations (not necessarily churches) that further any of the charitable purposes of the charity. The payment of such grants achieves the primary objectives of the charity

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THE BAIRD TRUST

Directors’ Report for the year ended 31 December 2025 (Continued)

Reference and Administrative Information

Charity Name:

Charity Registration Number: Principal Address & Registered Office:

Directors

The Baird Trust

S$C016549

182 Bath Street Glasgow G2 4HG

The Hon Mrs M Coltman Colonel J M K Erskine MBE Mr W H Barbour Mr L M Borwick Lieutenant Colonel R Callander LVO Commander C B C Ball Ms M Davis Rev. | Murray Ms C Spragge (Appointed 6'" March 2026)

Principal Office Bearers:

Chairman

Secretary Auditors

Bankers

Solicitors

Stockbrokers

Colonel J M K Erskine MBE lain A T Mowat C.A. TC Group Accountants & Business Advisers 180 St Vincent Street Glasgow G2 5SG

Bank of Scotland PO Box 1000 BX2 1LB

bto 48 St Vincent Street Glasgow G2 5HS

Rathbone Investment Management Ltd 50 George Square Glasgow G2 1EH

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Directors’ Report for the year ended 31 December 2025 (Continued)

Statement of the Directors’ Responsibilities in relation to the Financial Statements

The Directors (who are also Trustees of The Baird Trust for the purposes of charity law) are responsible for preparing the Directors Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Directors to prepare financial statements for each financial year which give a true 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 those financial statements, the Directors are required to:

° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Directors are responsible for keeping 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 & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Directors are aware:

The Directors 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.

Auditors

TC Group fall to be re-appointed as the charitable company’s auditors at the Annual General Meeting. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved on behalf of the Board

JMK Erskine Director 4th March 2026

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Independent Auditor's Report to the Members and Trustees of The Baird Trust

Opinion

We have audited the financial statements of The Baird Trust (the charitable company) for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

e give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources for the year then ended; e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and e have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's report thereon. The Directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

; THE BAIRD TRUST

Independent Auditor's Report to the Members and Trustees of The Baird Trust (continued)

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements within the Directors’ Report

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Responsibilities of Directors

As explained more fully in the statement of Directors' Responsibilities, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors (who are also the Trustees of the charitable company for the purposes of charity law) are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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a THE BAIRD TRUST

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Independent Auditor's Report to the Members and Trustees of The Baird Trust (continued)

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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Independent Auditor's Report to the Members and Trustees of The Baird Trust (continued)

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations to enquiry of the Directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.fre.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the charitable company’s Members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s Trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s Members and Trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, its Members as a body and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed

Steven Cunningham BA(Hons) CA (Senior Statutory Auditor) for on behalf of TC Group Accountants and Business Advisers

Date: 4th March 2026

Statutory Auditor 180 St Vincent Street Glasgow G2 5SG

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THE BAIRD TRUST

Statement of Financial Activities including Income and Expenditure Account for the year ended 31 December 2025

Notes Unrestricted Unrestricted
Funds Total Funds Total
2025 2025 2024 2024
£ £ z £
Income:
Income from Investments 2 415,682 415,682 433,788 433,788
Fees received £,300 7,350 9,835 9,835
Donation 50 50 - -
Total income: 423,082 423,082 443.623 443.623
Expenditure:
Investment management costs 8 (66,080) (66,080) (63,555) (63,555)
Expenditure on charitable activities 4 (358,822) (358,822) (367,985) (367.985)
Total expenditure (424.902) (424,902) (431,540) (431,540)
Net income/(expenditure) before
gains and losses on investments (1,820) (1,820) 12,083 12,083
Net gains/(losses) on investments 1,814,666 1,814,666 352,248 352,248
Net income/(expenditure) for the
year and net movement in funds 1,812,846 1,812,846 364,331 364,331
Reconciliation of funds:
Total funds brought forward 13.284.059 13,284,059 12,919,728 12,919,728
Totalfundscarriedforward 15,096,905 15,096,905 13,284,059 13,284,059

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 13 to 22 form an integral part of these financial statements

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THE BAIRD TRUST

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BALANCE SHEET

as at 31 December 2025

Notes 2025 2024
£ £
Tangible fixed assets
Property 9 27,600 27,600
Investment Property 10 197,874 197,874
Investments
Stocks and shares 11 14,989,828 13,080,573
Current assets
Debtors 12 35,257 71,657
Bank and cash 57,808 108 322
93,065 179,979
Creditors: amounts falling due within one year 13 211,462 201,967
Net Current Assets/(Liabilities) (118,397) (21,988)
Total Assets less current liabilities 15,096,905 13,284,059
Funds
UnrestrictedFunds 15 15,096,905 13,284,059

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were authorised for issue by the Board of Directors on 4th March 2026. Signed on behalf of the Board of Directors

JMK Erskine Director

Company Number SC235853

The notes on pages 13 to 22 form an integral part of these financial statements

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THE BAIRD TRUST

Notes to Financial Statements Year ended 31 December 2025

  1. Accounting Policies

Charity information

The Baird Trust is a charitable company limited by guarantee incorporated in Scotland. The registered office is 182 Bath Street, Glasgow G2 4HG

Accounting convention

The financial statements are prepared in accordance with the charity's Memorandum and Articles of | Association, Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS102.

The financial statements are presented in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant Notes to these financial statements. The principal accounting policies adopted are set out below.

Going Concern

At the time of approving the financial statements, the Directors have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The Directors consider that there are no material uncertainties about the charitable company’s ability to continue as a going concern. Thus, the Directors adopt the going concern basis of accounting in preparing the financial statements.

Fund Accounting

Funds are classified as unrestricted funds, defined as follows.

Unrestricted funds are expendable at the discretion of the Directors in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the Directors for a particular purpose, they are designed as a separate fund. This designation has an administrative purpose only and does not legally restrict the Directors’ discretion to apply the fund.

Income

Income is recognised when the charity has entitlement to the income, it is probable that the income will be received, and the amount can be measured reliably.

Investment Income

Dividends are recognised when the shareholder's right to receive payments is established, measured at the fair value receivable. Generally, this is upon notification by the investment advisor once the dividend has been paid.

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THE BAIRD TRUST

Notes to Financial Statements Year ended 31 December 2025

1. Accounting Policies (Contd.)

Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Fixed Assets

The charity has ceased depreciating the property within Tangible Fixed Assets. The Trustees believe that the value of the property is in excess of the net book value and that any depreciation charge on the remaining Net Book Value would not be material. Fixtures. fittings and equipment are written off in the year of purchase.

Investment Property

Investment property, which is a property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the Statement of Financial Activities.

Investments

Fixed asset investments are stated at market value at the balance sheet. Unrealised gains and losses represent the difference between the market value at the beginning and end of the financial year or, if purchased in the year, the difference between the cost and market value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the market value at the start of the year or cost if purchased in the year.

Taxation

The Baird Trust is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured or estimated reliably Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. The exception is that certain financial instruments must be adjusted to their present value; these include financial liabilities estimate of the amount required to settle the obligation at the reporting date. The exception is that where settlement is deferred for more than 12 months after the reporting date. All expenditure is accounted for on an accrual basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. Expenditure on Charitable Activities Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. The costs of charitable activities presented in the Statement of Financial Activities includes the costs of both direct service provision and the payment of grant awards if applicable.

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THE BAIRD TRUST

Notes to Financial Statements Year ended 31 December 2025

Accounting Policies (Contd.)

Investment Management Costs

Investment manager's costs represent the fees charged for managing the charity's investment Portfolio.

Governance Costs

Governance costs (which are included as a component of support costs in accordance with the SORP) comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. These include those related to constitution and statutory requirements, external scrutiny (audit or independent examination), strategic management, and other legal and professional fees.

Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Pensions

The pension costs charged in the financial statements represent the contributions payable by the charity during the year.

Cash at Bank and in Hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Creditors and Provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due

Judgements and Estimates

In preparing the financial statements, the Directors are required to make estimates and assumptions which affect reported income, expenses, assets and liabilities. Use of available information and application of judgement are inherent in the formation of expenses, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates

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THE BAIRD TRUST

Notes to the Financial Statements Notes to the Financial Statements
for the year ended 31 December 2025
2: Income from investments 2025 2024
£ £
Dividends received 399,380 425,916
Interest received 825 2,005
Rental income 15,477 5,867
415.682 433,788
3; Investment management costs
Investment management 66,080 63,555
4. Expenditure on charitable activities
Grants awarded to Organisations 312,000 275,000
Grants awarded to individuals(net) 200 37,700
Staffcostsincluding pension costs
Office premises costs		 15,499
2 836		 19,899
3 362
Running costs
Governance costs		 8,909
6 320		 14,623
6 300
Fees paid out 4,900 4,667
First Floor property costs 8.158 6.434
358,822 367,985
5 Net income/(expenditure) for the year
Net income/(expenditure) is stated after charging:
Auditor'sremuneration 6,320 6,300

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THE BAIRD TRUST

Notes to the Financial Statements

for the year ended 318t December 2025

6. Staff costs and remuneration of Key Management
Personnel
2025 2024
Staff costs and numbers
Average monthly number ofemployees during the year 74 2
Employment costs
£ £
Salaries and Employers National Insurance 15,273 19,673
Pension costs 226 226
15,499 19.899

There were no employees who received remuneration of over £60,000 in the period. The cost of the employees is shared with The Ferguson Bequest Fund and The Renfield Street Trust.

The remuneration of key management personne! during the year was £10,945 (2024-£14,924).

ls Directors’ emoluments and expenses

2025 2024
£ £
Travel and subsistence paid to Directors 3,194 2,416

No Director or any person connected with them received any remuneration in the year.

8. Related party transactions

The Baird Trust received rent of £2,933 from both the Ferguson Bequest Fund and The Renfield Street Trust. The Baird Trust receives a fee of £7,350 from The Sir J Donald Pollock's Trust for management services

One of the key management of the charity is also key management of The Ferguson Bequest Fund, The Renfield Street Trust and Sir J Donald Pollock's Trust

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THE BAIRD TRUST

Notes to the Financial Statements For the year ended 31 December 2025

9. Tangible Fixed Assets

Tangible Fixed Assets
2025
£
Property
At cost
At 1 January 2025 57,500
At 31 December 2025 57,500
Accumulated Depreciation
At 1 January 2025 29,900
At 31 December2025 29.900
Net Book Values
At 31 December 2025 27,600
At 31 December 2024 27,600
Investment Property
At Valuation
At 18 January 2025 197,874
At 31 December 2025 197,874
Investment property comprises a commercial property which is let to a
third party. The Directors believe the Valuation represents the market
value at the year end.
Investments
Fair value (market value) £
At 1 January 2025 13,080,573
Additions 3,819,925
Disposals (3,581,812)
Revaluations 1,671,142
At 31 December 2025 14,989,828
At31December2024 13,080,573

10 Investment Property

11. Investments

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: THE BAIRD TRUST THE BAIRD TRUST
Notes to the Financial Statements
For the year ended 31 December 2025
12. Debtors 2025 2024
£ £
Other Debtors 35,257 71,657
13. Creditors: amounts falling due within one year
Grants outstanding 184,000 176,000
Other creditors and accruals 27,462 25,967
211,462 201,967
14. Analysis of Net Assets between Funds
Unrestricted Funds 2025
General Total
£ £
Tangible Fixed Assets 27,600 27,600
Investments 14,989 828 14,989,828
Investment Property 197,874 197,874
Current Assets 93,065 93,065
Current Liabilities (211,462) (211,462)
15,096,905 15,096,905
Previous year
Unrestricted Funds 2024
General Total
£ £
Tangible Fixed Assets 27,600 27,600
Investments 13,080,573 13,080,573
Investment Property 197,874 197,874
Current Assets 179,979 179,979
Current Liabilities (201,967) (201,967)
13,284,059 13,284,059

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THE BAIRD TRUST

Notes to the Financial Statements For the year ended 31 December 2025

  1. Movement in Funds
1 January Income Expenditure Gains/(Losses) 31 December
2025 on Investments 2025
£ £ £ £ £
General Fund 13,284,059 423.082 (424 902) 1.814.666 15,096,905
Previous year
1 January Income Expenditure Gains/(Losses) 31 December
2024 on Investments 2024
£ £ £ £ £
General Fund 12,919,728 443.623 (431,540) 352,248 13,284,059

Purpose of the Fund

Firstly, to fund the provision of grants for the maintenance and repair of church buildings, secondly to fund the provision of charitable donations and thirdly the payment of the charity’s operating costs.

16. Financial Instruments

2025 2024
£ £
Financial assets measured at fair value 14,989 828 13.080,573
Financial assets measured at amortised cost 93,065 179.979
15,082,893 13,260,552
Financial Liabilities
Financial liabilities measured at amortised cost 211,462 201,967
Financial assets measured at fair value include the investment portfolio.
Financial assets measured at cost include cash at bank and other debtors.
Financial liabilitiesmeasuredatamortisedcostincludeothercreditorsandaccruals.

17.Lessor operating lease

2025 2024
£ £
Amounts due in less than one year 12,500 -
Amounts due between one and two years 12,500 -
Amounts due betweentwoandfiveyears 2,083 -

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THE BAIRD TRUST

Notes to the Financial Statements For the year ended 31 December 2025 17. Sundry Grants This comprises various grants to Institutions and individuals

Grants payable to Institutions > £1,000 are as follows:

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Grants payable to Institutions > £1,000 are as follows:
2025 2024
£ £
3DDrumchapel 10,000 10,000
Church House : 10,000
Lodging House Mission 5,000 -
Maryhill Ruchill Parish Church 10,000 10,000
Grassmarket Community Project 10,000 10,000
Gorebridge Parish Church
Bridgeton, St Francis in the East		 -
5,000		 5,000
5,000
Street Connect 8,000 6,000
New Team SCIO
Camperdown and Lochee Ministries
Cranhill Development Trust
Faith in Older People
The GK Experience
WheelTrust		 8,000
-
10,000
-
5,000
3,000		 5,000
5,000
10,000
10,000
3,000
3,000
Faith in Community Scotland
Cambuslang and Rutherglen Christian Reachout Trust
Jeely Piece Club
Broughty Ferry Presbyterian Church
Partick Trinity Church
Dunblane Free Church
Face to Face Ministries
United Irvine Parish Church of Scotland
Junction 12
Coston Milton Parish Church
Link Church, Dunfermline
St. Peter's Free Church, Dundee
Stockethill Parish Church
Cutting Edge Theatre
Gretna Old Church
Home for Good
Tabeetha School
Emmaus Glasgow		 10,000
5,000
-
-
8,000
-
-
5,000
6,000
-
-
-
-
-
-
-
-
5,000		 8,000
5,000
5,000
5,000
7,000
2,000
2,000
5,000
5,000
8,000
2,000
1,000
5,000
5,000
1,000
5,000
7,000
+
Glasgow City Mission 5,000 +
Witchester Christian Centre 3,000 +
Connect Youth 10,000 +
Sanctuary First
Falkirk Trinity Church
The New Well SCIO		 5,000
5,000
5,000		 +
+
+
Broughty Ferry Parish Church 3,000 +
Dunbar Area Christian Project 6,000 +
Brechin Cathedral Trust 3,000 +
Esk Valley Free Church 3,000 +
The Renfield Centre 8,000 :
Newton Wallacetown Church 8,000 :
Carrick Centre 3,000 +
Kiltarity & Beauly Free Church 5,000 +
Free North Church 4,000 +
St John’s Church, Linlithgow 5,000 :
Wellgait Ministry & Outreach 5,000 :
199,000 170,000

21

THE BAIRD TRUST

Notes to the Financial Statements For the year ended 31 December 2025

18. Grants voted Building and Repair Grants

This comprises grants to institutions.
Grants payable > £1,000 are:
2025 2024
£ £
Holy Trinity & St. Barnabas Episcopal Church . 5,000
Resolis & Urquhart Church - 1,000
Whithorn: St. Ninian’s Priory - 5,000
Cathcart Baptist Church - 5,000.
Poolewe & Aultbea Free Church . 4,000)
St. Andrew's Wallace Green & Lowick Church - 10,000
St. Mark’s Episcopal Church, Portobello - 7,000
Tarbert Parish Church - 4,000
Garnethill Synagogue Preservation Trust - 3,000
Kilmallie & Ardnamurchan Free Church - 3,000
St. Mary's Parish Church, Motherwell - 4,000
St.Ninian’s United Free Church - 4,000
Elgin Baptist Church - 8,000
Airdrie, Clarkston Parish Church - 3,000
Airdrie, Cairnlea Parish Church - 3,000
Forthview Inverkeithing Parish Church - 8,000
Glenisla Church 5,000
Stonelaw Parish Church - 3,000
Martin's Memorial Church, Stornoway - 10,000
Nairn United Reformed Church . 3,000
The Glens & Kirriemuir Parish Church - 5,000
Uig Church - 2,000
Barrhead St. Andrews Church 5,000 -
Bridge of Allan Parish Church 5,000 -
St. Mary's Episcopal Church 5,000 -
Kilmaronock Old Kirk 4,000 -
Kirkcudbright Parish Church 5,000 -
Lossiemouth United Free Church 4,000 -
St. Anne’s Episcopal Church 3,000 -
Broughty Ferry Free Church 5,000 -
Erskine United Free Church 5,000 .
Leslie Baptist Church 3,000 -
St. John’s Colinton Mains Church 5,000 -
Haddington Community Church 10,000 4
Cumbernauld Free Church 4,000 -
Gillespie Memorial Church 5,000 4
Musselburgh Congregational Church 3,000 -
Kilmarnock: New Laigh Kirk 10,000 -
St. Andrew's Episcopal, Ardrossan 5,000 -
Clay Community Church 5,000 -
Free North Church, Inverness 6,000 -
Gardenstoun New Church 3,000 -
Nairn United Reformed Church 3,000 -
Carntyne & Cranhill Church 10,000 4
St Colman’s Episcopal Church 3,000 4
Ibrox Parish Church 2,000 +
118,000 105,000
Less: Cancelled
Holy Trinity & St Barnabas Episcopal Church (5.000) :
113,000 105,000

22