Charity Number: SC016730
C.K. MARR EDUCATIONAL TRUST
ACCOUNTS
YEAR ENDED 30 APRIL 2025
C.K. MARR EDUCATIONAL TRUST
| INDEX | Pages |
|---|---|
| Governors, Officers and Professional advisers | 1 |
| Report ofthe Governors | 2-3 |
| Incomeand ExpenditureAccountand Statement ofFinancial Activities | |
| - General Fund & Subsidiary Fund | 4 |
| - SirAlexanderWalker's Trust | 5 |
| General and Subsidiary Fund Balance Sheet as at30 April 2025 | 6 |
| Notesto theAccounts fortheYear Ended 30April 2025 | 7-9 |
| SixYearSummary ofAccounts as at30 April 2025 | 10 |
| IndependentAuditor'sReport | 11-13 |
C.K. MARR EDUCATIONAL TRUST 1 —-
Bankers
The Royal Bank of Scotland plc 69 High Street Irvine KA12 OAL
Stockbrokers
Rathbones Group pic George House 50 George Square Glasgow G2 1EH
Auditors
Wbg (Audit) Limited 168 Bath Street Glasgow G2 4TP
Charity and Tax Reference Numbers $C016730 CR31999
Administrative address c/o 1 Howard Street Kilmarnock KA1 2BW
C.K. MARR EDUCATIONAL TRUST
REPORT OF THE GOVERNORS
The founding document of the Trust is The C.K. Marr Educational Trust Scheme 1981, Statutory Instrument No 857 (S88) of 1981. The Governors, as at 30" April 2025, are listed on page 1. rv a Governor until 1% July 2024. as appointed in his place on 27" February 2025. served as a Governor until 7" October 2024. as appointed in his place on 18" February 2025. erved as a Governor until 28" March 2025. The University of St. Andrews have not yet appointed anyone in her place.
None of the Governors receive any remuneration from the Trust. Travel expenses are paid to the appointees of the Universities of Edinburgh and St Andrews when they attend meetings, if claimed.
The benefits of the Trust are available only to persons resident within the area of benefit defined in Clause 2(1) of the Trust Scheme, namely the former Burgh of Troon including Loans Village and Southwoods.
In terms of Clause 3(1) of the Trust Scheme, the Governing Body of Trustees is constituted as a Body Corporate with perpetual succession and a Common Seal and with all the rights, powers and privileges of a Body Corporate. The objective of the Governing Body is the educational advancement of persons resident within the area of benefit.
The only regular sources of income to the Trust are the rental received in respect of the Marr College Playing Fields and the dividends, interest, etc collected on the investment portfolio and bank accounts. Donations are received only occasionally. The expenditure of the Trust on bursaries, scholarships and other grants remains at a fairly constant level from yearto year.
The Statutory Instrument has specific rules on the use of the income and permits any unexpended balance of income to be carried forward to the following financial year or to be added to the capital of the Trust. The Capital of the Trust is held for use on specific educational projects and is not available for routine bursaries, which are normally covered by the annual income of the Trust.
The investment portfolio is kept under careful and on-going review by Rathbones Group plc, Stockbrokers, Glasgow in succession to Investec Wealth & Investment UK, following a takeover of the latter. An Investment Manager from that Company attends the meetings of the Finance Committee held at least thrice yearly. The policy is to seek a balance of growth between income and capital.
The Finance Committee takes investment decisions after taking advice from the stockbrokers, at the thrice-yearly meetings and also between meetings, when necessary.
The Governors have continued to provide operational funding for the Marr Educational Resources Centre which was attached to the public library belonging to South Ayrshire Council in South Beach, Troon until shortly after 30" April 2025. The future of the Resources Centre is currently under review and the total payment made to South Ayrshire Council during the year is at a lower level than historically. Discussions are ongoing with South Ayrshire Council about the appropriate level of future financial support.
The Trust has continued to encourage postgraduate study and research by providing substantial grants to post-graduate scholars. The Trust has provided bursaries - mainly of £500 each - to hundreds of students from Troon engaged in tertiary education at University or College level. The Trust has also encouraged the staff of Marr College and the local primary schools to organise and undertake travel excursions of an educational nature, both within the United Kingdom and abroad. A number of grants are made for educational travel by individual students but there have been fewer such grants or applications therefor since the covid pandemic. Grants have historically been made to assist the education of the disabled but no applications for such grants have been approved during the year to 30" April 2025.
The Governors will continue to administer both the income and the expenditure of the Trust in accordance with the practices established since 1981. There are no future plans or commitments which will have any material effect upon the financial position of the Trust.
The value of the Trust's investments has recovered since the covid pandemic, payment of bursaries has not encroached into capital and having taken advice from the Trust's Investment Brokers, the Trustees do not consider that the pandemic will have a material impact on the Trust's ability to continue with the provision of educational grant assistance in the foreseeable future. The accounts set out on pages 4 to 6 show the financial position of the Trust at 30" April 2025 and its income and expenditure for the year then ended. These accounts reflect the requirements of applicable charity law.
No other body is connected with the Trust but the Governors ex officiis are also the Trustees of the Sir Alexander Walker Trust. This is a small subsidiary Trust whose accounts are incorporated within the main accounts of the Marr Trust.
C.K. MARR EDUCATIONAL TRUST
REPORT OF THE GOVERNORS
The Walker Trust provides bursaries of a relatively small amount to persons engaged in tertiary education at University or College level. The Walker Trust does not have powers to give grants for vocational training or educational travel. Its funds are too limited to allow substantial grants to be made for postgraduate research. The funds of the Walker Trust are fully invested in Stock Exchange investments. There are no transactions between the Marr Trust and the Walker Trust. The accounts set out on page 5 show the income and expenditure of the Walker Trust for the year ended 30" April 2025.
Risk management
The Governors have assessed the major risks to which the Trust is exposed, in particular those related to the finances of the Trust, and are satisfied that systems are in place to minimise exposure.
Statement of Governors’ responsibilities
The charity Governors are responsible for preparing a trustees’ annual report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to trusts in Scotland requires the trusts Governors’ to prepare accounts for each year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, of the trust for that period. In preparing the accounts, the Governors are required to:
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e select suitable accounting policies and then apply them consistently; ¢ observe the methods and principles in the applicable Charities SORP;
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*« make judgements and estimates that are reasonable and prudent; e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the trust will continue in business.
The Governors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the trust and to enable them to ensure that the accounts comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006, and the provisions of the Statutory Instrument. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Governors are responsible for the maintenance and integrity of the charity and financial information included on the charity regulator’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.
Going Concern
The Governors consider that there are no material uncertainties about the Trust's ability to continue as a going concer.
Statement of Disclosure to the Auditor
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In so far as the Governors are aware:
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e there is no relevant audit information of which the trust auditor is unaware; and
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« the Governors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Auditors
A resolution to re-appoint Wbg (Audit) Limited as auditors to the Trust, in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 will be proposed at the Annual General Meeting of the Trust on 24" June 2025.
C.K. MARR EDUCATIONAL TRUST
GENERAL FUND AND SUBSIDIARY FUND
INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Income from: | ||
| OtherTrading Activities | ||
| Rentof playing fields | 46,208 | 39,000 |
| Investments | ||
| Income from investments | 541,371 | 491,814 |
| Bank interest | 8,656 | 8,445 |
| Other Income | ||
| Donation | - | 10,000 |
| 596,235 | 549.259 | |
| Expenditure on: | ||
| Charitable activities - Educational | ||
| Educational Resources Centre | 43,750 | 65,000 |
| Grants to individuals | ||
| Section 29 Bursaries— Higher Education | 143,625 | 146,750 |
| Section 30 Postgraduate scholarships | 38,429 | 43,680 |
| Section 31 Vocational bursaries | 6,875 | 8,750 |
| Section 32Travelgrants Section 34 Prizes WalkerTrust Bursaries |
25,665 3,000 5,250 |
21,837 3,000 5,425 |
| 266,594 | 294,442 | |
| Charitable activities -Management |
||
| Salary paidto Clerk | 39,999 | 39,999 |
| Bank charges | 293 | 304 |
| Postages, stationeryetc | 1,435 | 1,362 |
| Auditors’ remuneration | 4,391 | 3,924 |
| Stockbrokers’ annual fee | 28,426 | 34,715 |
| Insurance | 398 | 398 |
| Meeting and othermiscellaneous expenses | 2,150 | 1,759 |
| Rent review fee | - | 1,800 |
| 77,092 | 84,261 | |
| Total Expenditure | 343,686 | 378,703 |
| Net income and net movement in funds for year before gainsi(losses) on | 252,549 | 170,556 |
| investments | ||
| Gains/(Losses) on investments | ||
| Realised Unrealised |
7,919 (340,264) |
38,638 149,223 |
| Netmovement in Funds | (79,796) | 358,417 |
| Fund balances at 1 May2024 | 12,697,289 | 12,338,872 |
| Fundbalancesat30April2025 | 12,617,493 | 12,697,289 |
The notes on pages 7 to 9 form part of these accounts
C.K. MARR EDUCATIONAL TRUST
SIR ALEXANDER WALKER'S TRUST FUND
INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025
| 2025 | 2024 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Income from: | |||||||
| Investments | 7,303 | 6,400 | |||||
| Total Income | 7,303 | 6,400 | |||||
| Expenditure on: | |||||||
| Charitable Activities | |||||||
| Bursaries | 5,250 | 5,425 | |||||
| Total Expenditure | 5,250 | 5,425 | |||||
| Net income and | net movement | in fund | before | gains on | |||
| investments | 2,053 | 975 | |||||
| Gains on investments | |||||||
| Realised Unrealised |
414 3,902 |
- 6,141 |
|||||
| Netmovement in Fund | 6,369 | 7,116 | |||||
| Fund balance at | 1 May2024 | 164,488 | 157,372 | ||||
| Fundbalanceat30 | 30April2025 | 170,857 | 164,488 |
The notes on pages7 to 9 form part of these accounts
C.K. MARR EDUCATIONAL TRUST
GENERAL & SUBSIDIARY FUND BALANCE SHEET AS AT 30 APRIL 2025
| Notes | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Heritable Property | 5 | - | - | |
| Investments | 6 | 12,494,473 | 12,576,819 | |
| 12,494,473 | 12,576,819 | |||
| Current assets | ||||
| Bank | 90,918 | 153,026 | ||
| Debtors | —__ | 60,102 | 7 6,044 | |
| 151,020 | 159,070 | |||
| Current Liabilities | ||||
| Creditors | (28,000) | (38,600) | ||
| Net currentassets | 123,020 | 120,470_ | ||
| NetAssets | 12,617,493 | 12,697,289 | ||
| Funds ofthe Trust | ||||
| Designated Capital accounts | 8 | 9,675,399 | 9,667 484 | |
| Unrealised appreciation on investments | 7 | 1,607,661 | 1,947,924 | |
| Revenue accounts | 9 | 1,334,433 | 1,081,880 | |
| 12,617,493 | 12,697,289_ |
The notes on pages7 to 9 form part of these accounts
C.K. MARR EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2025
- Accounting Policies
General
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.
The trust constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Funds structure
Unrestricted income funds comprise those funds which the Governors are free to use for any purpose in furtherance of the charitable objects.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.
Investments
Investments are stated at market value. Any increases or decreases in value are credited or charged to an unrealised appreciation on investments account. Realised gains or losses are transferred to the capital account.
Income from investments
Income from investments is accounted for on an accruals basis.
Interest from bank deposits
Interest from bank deposits is accounted for on a cash basis.
Expenditure including Grants
Expenditure is accounted for on an accruals basis.
Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and cost. Unrealised gains and losses are calculated as the difference between the market value at the year end and their cost.
Cash flow statement
The accounts do not include a cash flow statement as the Governors do not consider it would serve a useful purpose.
Going Concern
At the time of approving the financial statements, the Governors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the Governors continue to adopt the going concern basis of accounting in preparing the financial statements.
- Legal Status of the Trust
The Trust is a registered Scottish charity created by Statutory Instrument.
C.K. MARR EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2025
3. Related party transactions and Governors’ expenses and remuneration
The Governors all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2024: £nil). There were no expenses reimbursed to Trustees in the year (2024: £nil).
A child of 1 Trustee (2024: 2) received bursary payments from the charity totalling £500 (2024: £7,500). On review, these were applied for and awarded on the same basis as all other grant applicants.
A beneficiary group that includesa child of a Trustee received bursary payments totalling £4,240 during the year (2024: £nil). These bursaries were applied for and awarded through the same process and on the same terms as all other grant applicants.
4. Analysis of net assets between funds
| Sir | |||
|---|---|---|---|
| 2025 | Alexander Walker's |
C.K. Marr Trust |
Total2025 |
| Trust | |||
| £ | £ | £ | |
| Investments Bank |
160,690 - |
12,333,783 90,918 |
12,494,473 90,918 |
| Debtors Creditors Duefrom / (to) otherfunds |
- - 10,167 |
60,102 (28,000) (10,167) |
60,102 (28,000) - |
| 170,857 | 12,446,636 | 12,617,493 | |
| Represented by: | |||
| Capital Unrealised appreciation on investments Revenue |
29,449 16,469 124,939 |
9,645,950 1,591,192 1,209,494 |
9,675,399 1,607,661 1,334,433 |
| 170,857 | 12,446,636 | 12,617,493 | |
| Sir | |||
| 2024 | Alexander Walker's |
C.K.Marr Trust |
Total 2024 |
| Trust | |||
| £ | £ | £ | |
| Investments Bank |
156,374 - |
12,420,445 153,026 |
12,576,819 153,026 |
| Debtors Creditors Duefrom / (to) otherfunds |
- - 8,114 |
6,044 (38,600) (8,114) |
6,044 (38,600) - |
| 164,488 | 12,532,801 | 12,697,289 | |
| Represented by: | |||
| Capital Unrealised appreciation on investments Revenue |
29,035 12,567 122,886 |
9,638,445 1,935,358 958,998 |
9,667,480 1,947,925 1,081,884 |
| 164,488 | 12,532,801 | 12,697,289 |
5. Heritable property
Heritable property consists of the Playing Fields which are included at £nil value as the Governors do not intend to dispose of this land.
C.K. MARR EDUCATIONAL TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2025
6. Investments
| Sir Alexander | ||||
|---|---|---|---|---|
| Walker's Trust |
C.K. Marr Trust |
Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 May 2024 | 143,594 | 10,265,319 | 10,408,913 | |
| Additions at cost | 21,860 | 1,240,494 | 1,262 354 | |
| Proceeds on disposal | (22,692) | (988,403) | (1,011,095) | |
| Realised Gainon disposal | 414 | 7,505 | 7,919 | |
| As at30 April 2025 | 143,176 | 10,524,915 | 10,668,091 | |
| Unrealised appreciation | 16,468 | 1,591,191 | 1,607,659 | |
| 159,644 | 12,116,106 | 12,275,750 | ||
| Capital cash held by broker | 1,046 | 217,677 | 218,723 | |
| Market value | ||||
| At30April 2025 | 160,690 | 12,333,783 | 12,494,473 | |
| At30April 2024 | 156,374 | 12,420,445 | 12,576,819 | |
| 7 | Unrealised appreciation | |||
| SirAlexander | C.K. Marr | |||
| Walker's Trust | Trust | Total | ||
| £ | £ | £ | ||
| At 1 May2024 Increase |
12,567 3,902 |
1,935,358 (344,166) |
1,947,925 (340,264) |
|
| At30 April2025 | 16,469 | 1,591,192 | 1,607,661 | |
| 8. | Capital accounts | |||
| SirAlexander | C.K. Marr | |||
| Walker’sTrust | Trust | Total | ||
| £ | £ | £ | ||
| At 1 | May2024 | 29,035 | 9,638,445 | 9,667,480 |
| Gainon disposal ofinvestments | 414 | 7,505 | 7,919 | |
| At30 April 2025 | 29,449 | 9,645,950 | 9,675,399 | |
| 9. | Revenueaccounts | |||
| SirAlexander | C.K. Marr | |||
| Walker's Trust | Trust | Total | ||
| £ | £ | £ | ||
| At 1 | May2024 | 122,886 | 958,998 | 1,081,884 |
| Netincoming | incoming resources | 2,053 | 250,496 | 252,549 |
| At30April2025 | 124,939 | 1,209,494 | 1,334,433 |
C.K. MARR EDUCATIONAL TRUST
SIX YEAR SUMMARY OF ACCOUNTS AS AT 30 APRIL 2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |
| Income | ||||||
| Rent ofplaying fields | 46,208 | 39,000 | 39,000 | 39,000 | 39,000 | 39,000 |
| Investments | 541,371 | 491,814 | 594,218 | 489,881 | 402,294 | 472,695 |
| Bank Interest | 8,656 | 8,445 | 1,721 | 328 | 45 | 476 |
| Sale ofmovable Property | - | - | - | - | - | 25,804 |
| Donation | - | 10,000 | - | - | - | - |
| 596,235 | 549,259 | 634,939 | 529,209 | 441,339 | 537,975 | |
| Expenditure | ||||||
| Educational: | ||||||
| Educational Resources Centre | 43,750 | 65,000 | 91,500 | 122,000 | 122,000 | 122,000 |
| $28-34 Bursaries, grants etc | 222,844 | 229 442 | 216,230 | 317,772 | 234,078 | 229,996 |
| 266,594 | 294442 | 307,730 | 439,772 | 356,078 | 351,996 | |
| Management | 77,092 | 84,261 | 79,002 | 87,698 | 84,272 | 60,115 |
| Netincoming resources | 252,549 | 170,556 | 248,207 | 1,739 | 989 | 125,864 |
| Gains/(losses) on investments Realised |
7,919 | 38,638 | 56,963 | 79,256 | (66,281) | 218,399 |
| Unrealised | (340,264) | 149,223 | 1,721 | 92,365 | 2,081,917 | (1,677,497) |
| Netmovementin Fund | (79,796) | 358,417 | 306,891 | 173,360 | 2,016,625 | (1,333,234) |
| At beginning ofyear | 12,697,289 | 12,338,872 | 12,031,981 | 11,858,621 | 9,841,996 | 11,175,230 |
| Atend ofyear | ||||||
| 12,617,493 | 12,697,289 | 12,338,872 | 12,031,981 | 11,858,621 | 9,841,996 |
C.K. MARR EDUCATIONAL TRUST
INDEPENDENT AUDITORS’ REPORT TO THE GOVERNORS OF C.K. MARR EDUCATIONAL TRUST FOR THE YEAR ENDED 30 APRIL 2025
Opinion
We have audited the financial statements of C.K Marr Educational Trust (the ‘charity’) for the year ended 30 April 2025 which comprise the Statement of Financial Activities, the Balance Sheet and the 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:
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e give a true and fair view of the state of the charity’s affairs as at 30 April 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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e« have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
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 trustees’ 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 charity'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 trustees with respect to going concer are described in the relevant sections of this report.
Other information
The other information comprises the information included in the trustees’ annual report*, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and 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.
Matters on which we are required to report by exception
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We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:
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e the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or
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¢ proper accounting records have not been kept; or
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e the financial statements are not in agreement with the accounting records; or
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e we have not received all the information and explanations we require for our audit.
C.K. MARR EDUCATIONAL TRUST
INDEPENDENT AUDITORS’ REPORT TO THE GOVERNORS OF C.K. MARR EDUCATIONAL TRUST FOR THE YEAR
ENDED 30 APRIL 2025
Responsibilities of trustees
As explained more fully in the Trustees’ Responsibilities Statement set out on page 3, the trustees are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees 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 trustees are responsible for assessing the charity'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 trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee investment (Scotiand) Act 2005 and report in accordance with the Act 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
Extent to which the audit was considered capable of detecting irregularities including fraud We identify and assess the risks of material misstatement of the accounts, whether due to fraud or error, and then design and perform audit procedures response to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
in identifying and assessing the risks or material misstatements in respect of irregularities, including fraud and noncompliance with laws and regulations we considered the following;
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e The nature of the charity, the environment in which it operates and the contro! procedures implemented by management and the trustees; and
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© Our enquiries of management and trustees about their identification and assessment of the risks of irregularities.
Based on our understanding of the charity and the sector in which it operates, we identified that the principal risks of noncompliance with laws and regulations related to, but were not limited to;
- e Regulations and legislation pertinent to the charity's operations; and e The charity's constitution.
We considered the extent to which non-compliance might have a material impact on the accounts. We also considered those laws and regulations which have a direct impact on the preparation of the accounts, such as the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations (as amended) 2006. We evaluated management and trustees’ incentives and opportunities for fraudulent manipulation of the accounts (including the risk of management override of controls), and determined that the principal risks were related to;
- e Posting inappropriate journal entries
13,
C.K. MARR EDUCATIONAL TRUST
INDEPENDENT AUDITORS’ REPORT TO THE GOVERNORS OF C.K. MARR EDUCATIONAL TRUST FOR THE YEAR ENDED 30 APRIL 2025
Audit response to the risks identified;
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Our procedures to respond to the risks identified included the following; ¢ Gaining an understanding of the legal and regulatory framework applicable to the charity and the sector in which it operates;
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¢ Reviewing account disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the accounts;
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- Enquiring of management, trustees and legal advisors concerning actual and potential litigation and claims; * Reading minutes of meetings of those charged with governance: « In addressing the risk of fraud as a result of management override of controls, testing the appropriateness of journal entries and other adjustments; and, evaluating rationale of any significant transactions that are unusual or outside the normal course of operations.
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¢ Joumal entries tested in areas, such as, investments, creditors and debtors.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal contro! that we identify during our audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the accounts or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the accounts, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: responsibilities-for-the-audit.This description forms part of our auditor's report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
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, a Whg (Audit) Limited Statutory Auditor
168 Bath Street Glasgow G2 4TP
Date: 24 June 2025
Whbg (Audit) Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.