PROVOST TULLOCH FUND, 1973
Charity Ref: SC017105
Accounts for the year to 5 April 2025
Contents
Reference & Admin Information Report by Trustees Report by Independent Examiner Accounts Notes to the Accounts Appendices of Investments
2
PROVOST TULLOCH FUND, 1973
Reference and Administrative Information
Date/ Manner of Appointment
Names and Addresses of Trustees
Ex Officio Ex Officio
All Trustees are ex officio appointments, as Councillors for St Andrews or representatives for the Royal & Ancient Golf Club in St Andrews
Charity Reference No: $C017105
Agents and Administrators for the Trust (and principal address of the Charity) Thorntons Law LLP, Whitehall House, 33 Yeaman Shore, Dundee, DD1 4B)
Investment Managers
Rathbones Investment Management, George House, 50 George Square, Glasgow, G2 1EH
Principal Bankers
The Royal Bank of Scotland pic 3 High Street, Dundee DD1 SLY
GENEIndependentHendersonExaminerBlack & Co, Edenbank House, 22 Crossgate, Cupar, Fife, KY15 SHW
3
PROVOST TULLOCH FUND, 1973
Report of the Trustees for the year ended 5 April 2025
The Trustees present their report and accounts for the year ended 5 April 2025. The report and accounts have been prepared in accordance with the charity’s trust deed and with the accounting policies set out on page 10.
Structure, Governance and Management:
Origins
The Trust was established by Deed of Trust dated 19 April 1973 and registered in the Books of Council and Session on 8 June 1973.
Objectives, Activities and Plans for Future Periods
The principal objectives of the Trust are to a) pay over the free annual income to the Management Committee of the Cosmos Centre, St Andrews for the benefit of the youth of St Andrews and District, and b) in the event of the Trustees considering that the annual income in any year is in excess of what could reasonably be used by the Cosmos Centre, the Trustees may pay the balance to such other charitable organisations as are constituted for the general benefit of the youth of St Andrews or District.
During the year to 5th April 2025 the Trustees’ objectives remained unchanged. However, they recognise that there may be an impact on their plans as a result of turbulent Markets. Dividend income increased modestly compared to 2024, resulting in less surplus once again being available for distribution.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust. They recognise that turbulence in the markets has brought new challenges which impact the performance of the Trust assets. They remain satisfied that the systems in place to mitigate the Trust’s exposure to the major risks remain appropriate and sufficient.
Achievements and Performance:
Grants
Grants paid in the year to 5 April 2025 amounted to £13,000 (2024 — £13,000). Income for the year was £14,665 (2024 - £16,122, which included a £2,000 donation received) and general administration costs were £13,200 (2024 — as restated £13,440) including VAT
Financial Position:
The results for the year are set out on pages 6 & 7. Corresponding figures for the year ended 5 April 2024 are also shown.
Reserves Policy
The reserves represent the funds arising from past operations. The Trustees are satisfied these funds are sufficient for the continuation of the trust for the foreseeable future.
As shown in the Statement of Balances, the total assets of the Trust, net of liabilities, were £481,481 (2024 - £505,494).
Investment policy and performance
The Trustees have issued an investment policy statement to the investment managers. Both the policy and performance are reviewed annually.
4
PROVOST TULLOCH FUND, 1973
Report of the Trustees for the year ended 5 April 2025 (cont)
Future Strategy
No significant changes are presently envisaged in the trust's policies as outlined above.
Approved by the Trustees and signed on their behalf:
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
PROVOST TULLOCH FUND 1973
| report on the Accounts of the Charity for the year ended 5 April 2025 which are set out on pages 6 to 10.
Respective Responsibilities of Trustees and Examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (“the 2005 Act") and the Charities Accounts (Scotland) Regulations 2006 (as amended) (“the 2006 Regulations”). The charity's 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.
This report is made to the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that | might state to the trustees those matters | am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the trustees for my work or for this report.
Basis of Independent Examiner’s Statement
My examination is carried out in accordance with Regulation 11 of the 2006 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of 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 | 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:-
-
which gives me reasonable cause to believe that in any material respect the requirements:to keep accounting records in accordance with Section 44 (1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations, and to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
artner Henderson Black & Co Chartered Accountants
22 Crossgate Cupar Fife, KY15 SHW
Date: Pee 2025
5
6
PROVOST TULLOCH FUND, 1973
Receipts and Payments Account for the year ended 5 April 2025
==> picture [464 x 302] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2025|2024|
|Schedule/|As|restated|
|Appendix|£|£|
|Receipts|
|Income|Received|Sch|1|14,665.38|16,122.48|
|Proceeds|from|investment|sales|App 2|82,158.12|24,693.10|
|Total|receipts|96,823.50|40,815.58|
|Payments|
|Investment|purchases|App 2|73,407.93|23,199.67|
|Charitable|activities|Sch 2|16,690.00|17,032.00|
|Governance|Sch 3|9,510.00|9,408.00|
|Costs|of generating|funds|Sch|4|4,630.82|4,271.07|
|Total|payments|104,238.75|53,910.74|
|(Deficit)/Surplus|for year|(7,415.25)|(13,095.16)|
----- End of picture text -----
All funds are unrestricted.
7
PROVOST TULLOCH FUND, 1973
Statement of Balances as at 5 April 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Schedule/ | As restated | ||
| Appendix | £ | £ | |
| Cash on deposit and on hand | |||
| Opening balance | 10,497.78 | 23,592.94 | |
| (Deficit)/Surplus for year | (7,415.25) | (13,095.16) | |
| Closing balance | 3,082.53 | 10,497.78 | |
| Reserves | |||
| Unrestricted Funds | 3,082.53 | 10,497.78 | |
| Investments as valued at 05.04.25 | App 1 | 482,880 | 502,689 |
| 485,962.53 | 513,186.78 | ||
| Estimated Liabilities as at 05.04.25 | |||
| Thorntons Law LLP, administration fees | 2,760.00 | 5,657.14 | |
| Rathbones, investment management fee | 1,091.81 | 1,135.31 | |
| Henderson Black, Independent Examination fee | 630.00 | 900.00 | |
| 4,481.81 | 7,692.45 |
Approved by the trustees and signed on their behalf:
8
PROVOST TULLOCH FUND, 1973
| Schedule 1 | |||
|---|---|---|---|
| Income Received | |||
| 2025 | 2024 | ||
| As restated | |||
| £ | £ | ||
| Dividends and Interest, per Appendix 1 | 14,665.38 | 14,122.48 | |
| Donations received | - | 2,000.00 | |
| 14,665.38 | 16,122.48 | ||
| Schedule 2 | |||
| Charitable Activities | |||
| Grants paid in year - | 13,000.00 | 13,000.00 | |
| Support Costs (Schedule 3) | 3,690.00 | 4,032.00 | |
| 16,690.00 | 17,032.00 | ||
| Schedule 3 | |||
| SupportCosts | Charitable | 2025 | |
| Activities | Governance | Total | |
| Thorntons Law - administration fees | 3,690.00 | 8,610.00 | 12,300.00 |
| Henderson Black — independent examination fee | - | 900.00 | 900.00 |
| 3,690.00 | 9,510.00 | 13,200.00 | |
| 2024 | |||
| Charitable Activities |
Governance | As restated Total |
|
| Thorntons, administration fees | 4,032.00 | 9,408.00 | 13,440.00 |
| Henderson Black — independent examination fee | - | - | - |
| 4,032.00 | 9,408.00 | 13,440.00 | |
| 2025 | 2024 | ||
| As restated | |||
| Schedule 4 | £ | £ | |
| Costs ofgenerating funds | |||
| Rathbones - Investment Management fees | 4,630.82 | 4,271.07 | |
| 4,630.82 | 4,271.07 |
9
PROVOST TULLOCH FUND, 1973
Schedule 5
Reconciliations on adoption of receipts and payments basis
Reconciliation of equity 05/04/24 £ Balance Sheet as reported under FRS102 accruals basis 505,494.33 Add: liabilities 7,692.45
513,186.78
Reconciliation of surplus/(deficit) for the financial year
2024 £
Surplus for the year to 5 April 2024 reported under FRS102 accruals basis 18,339.98 Add: Creditors 1,434.86 Sale of investments 24,693.10 Less: Purchase of investments (23,199.67) Gains on investments (34,363.43) Deficit for the year to 5 April 2024 reported under receipts and (13,095.16)
Deficit for the year to 5 April 2024 reported under receipts and payments basis
10
PROVOST TULLOCH FUND, 1973
Notes to the Accounts
1. Accounting Policies
1.1 Basis of Accounting
These accounts have been prepared on a Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
For the year to 5 April 2025, the charity changed its accounting policy from preparing its financial statements on the accruals basis in accordance with the Charities Statement of Recommended Practice (SORP), to the receipts and payments basis, as permitted under the Charities Accounts (Scotland) Regulations 2006. This change was made because the charity’s gross income for the year fell below the £250,000 threshold, and the Trustees considered the receipts and payments basis to be more proportionate and cost effective for the charity's size and complexity.
As a result of this change, comparative figures from the previous year’s Accounts, which were prepared on an accruals basis, have been restated. The restatement schedule can be found in Schedule 5.
1.2 Taxation
The charity is exempt from tax on income and gains under applicable legislation to the extent that these are applied to its charitable objectives.
1.3 Cash Flow Statement
The charity is entitled to the exemptions available in the Charities Accounts (Scotland) Regulations 2006 (as amended) and is not required to prepare a Cash Flow Statement.
1.4 Fund accounting
All of the charity’s funds are unrestricted. Unrestricted funds are those funds which the Trustees are free to use for any purpose in furtherance of the charitable objectives.
2. Going Concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
3. Investment managers
The Trustees approve the continued appointment of the Investment Managers as detailed in the Report of the trustees in these Accounts, and on the same basis as contained in the Investment and Financial Services Terms of Business Agreement currently in force.
4. Independent Examiner
The Trustees approve the appointment of the Independent Examiner as detailed in the Report of the trustees in these Accounts.
5. Employees, Trustees and their Remuneration
The charity had no employees during the year (2024 — none). No remuneration or expenses were paid to Trustees during the year (2024 — none).
THE PROVOST TULLOCH FUND 1973
APPENDIX 1 Investment Income from 06/04/24 to 05/04/25
| Date Paid | Company | ||
|---|---|---|---|
| 08/04/2024 | DIVIDEND | on 160@ £1.1348 BLUEBAY FUNDS MGMT GbI InvGrCorp Bd S Inc (GBP) | 181.57 |
| 11/04/2024 | DIVIDEND | on 576@ £.16 GSK PLC 31 1/4p Ordinary Shares | 92.16 |
| 15/04/2024 | DIVIDEND | on 14 @ USD.39THERMO FISHER SCIENTIFIC INC USD1 Common Stock | 3.04 |
| 16/04/2024 | DIVIDEND | on S000@ £.0461 JP MORGAN GBLGROWTH & INCOME Sp Ordinary Shares | 230.50 |
| 17/04/2024 | OIVIDEND | on 200@ £.3205 DIAGEOPLC 28 101/108p OrdinaryShares | 64.10 |
| 18/04/2024 | DIVIDEND | on 100@ £2.0377 RIOTINTO PLC 10p Ordinary Shares | 203.77 |
| 23/04/2024 | DIVIDEND | on 12 @ USD.59 DOLLAR GENERAL CORP USD0.875 Common Stock | 4.00 |
| 26/04/2024 | DIVIDEND | on 4400@ £.003636 FIDELITY INVESTMENT SERVICES Strategic Bond NetW Inc | 16.00 |
| 30/04/2024 | DIVIDEND | on 36 @ USD1.15 JPMORGAN CHASE &COUSD1 Common Stock | 22.97 |
| 30/04/2024 | DIVIDEND | on 5900 @ £.0035 LIONTRUST INVESTMENTSLTD Monthly Inc Bond PGross Inc Sust Future Mnth Bd P Inc | 20.65 |
| 01/05/2024 | DIVIDEND | on 60@ £.972384TWENTYFOURGLOBALFUNDSCorporate BondI Dist(GBP) | 58.34 |
| 07/05/2024 | DIVIDEND | on 85 @ EUR1.04 HEINEKEN HOLDING NVEUR1.60 Shares | 64.14 |
| 07/05/2024 | DIVIDEND | on 16284.541 @ £.00870913 LEGAL&GENERAL UNIT TST MGRS Dynamic Bond I Inc Strategic Bond I Inc | 141.82 |
| 09/05/2024 | DIVIDEND | on 79 @ £.23511273 FRANKLIN TEMPLETON GBL FDS PLC WA Sht Dur Blue Chip S + Hod WA Sht Dur Blue Chip P2 + (GBP | 18.57 |
| 14/05/2024 | DIVIDEND | on 1021 @ £.17 BLACKROCK WORLD MINING PLC 5pOrdinary Shares | 173.57 |
| 15/05/2024 | DIVIDEND | on 56@ USD.55ABBOTT LABORATORIES NPVCommon Stock | 17.00 |
| 16/05/2024 | DIVIDEND | on 590@ £.11342251 PRUDENTIAL PLC 5pOrdinary Shares | 66.92 |
| 16/05/2024 | DIVIDEND | on 720 @ £.042 HALEON PLC Ip Ordinary Shares | 30.24 |
| 20/05/2024 | DIVIDEND | on 4500@ £.043 MURRAY INTERNATIONAL TRUST PLC 5p Ordinary Shares | 193.50 |
| 21/05/2024 | DIVIDEND | on 14000@ £.0184 LLOYDSBANKING GROUP PLC 10p Ordinary Shares | 257.60 |
| 25/05/2024 | DIVIDEND | on 4400@ £.003219 FIDELITY INVESTMENT SERVICES Strategic Bond NetW Inc | 14.16 |
| 28/05/2024 | DIVIDEND | on 10597.99@ £.012791 SARASIN INVESTMENT FUNDS Global Higher DivsP Inc | 135.56 |
| 31/05/2024 | OIVIDEND | on S900 @ £.0035 LIONTRUST INVESTMENTSLTD Monthly Inc Bond P Gross Inc Sust Future Mnth Bd P Inc | 20.65 |
| 31/05/2024 | DIVIDEND | on 7003.87 @ £.009816M&G INVESTMENTMGMT CorpBond Sterling PP Inc | 68.75 |
| 07/06/2024 | INTEREST | on £4600@ 2.125% TREASURY 4 1/4% Stock 7/06/2032 | 97.75 |
| 07/06/2024 | DIVIDEND | on 400@ £.3674 UNILEVER PLC 3 1/9p Ordinary Shares | 146.96 |
| 07/06/2024 | DIVIDEND | on 65 @ USD.39 OTIS WORLDWIDECORPUSD0.01 Common Stock (WI) | 16.74 |
| 07/06/2024 | DIVIDEND | on 240@ £.166ADMIRALGROUP PLC 0.1pOrdinary Shares | 39.84 |
| 07/06/2024 | DIVIDEND | on 240@ £.354 ADMIRALGROUP PLC 0.1p Ordinary Shares | 84.96 |
| 10/06/2024 | DIVIDEND | on 79@ £.25393198 FRANKLIN TEMPLETON GBL FDS PLCWA Sht Dur Blue Chip P2 + (GBP | 20.06 |
| 10/06/2024 | DIVIDEND | on 2150 @ £.0483 ISHARES II PLC USD TIPS UCITS ETF £ Hdgd Dist | 103.85 |
| 13/06/2024 | DIVIDEND | on 28 @ USD.75 MICROSOFTCORPUSD 0.00000625 Common Stock | 13.87 |
| 13/06/2024 | DIVIDEND | on 245 @ £.418RELX PLC 14.44p Ordinary Shares | 102.41 |
| 17/06/2024 | DIVIDEND | on 55@ USD.2 ALPHABET INC USD0.001 Cls A Common Stock |
7.34 |
| 19/06/2024 | DIVIDEND | on 5000 @ £.035 HENDERSON EUROTRUST PLC 1/2p Ordinary Shares 1/2p Ord Shares (Liquidated) | 175.00 |
| 24/06/2024 | DIVIDEND | on 573 @ £.2694 SHELL PLC EURO.07 Ord Shs(UK Quote) | 154.37 |
| 24/06/2024 | OIVIDEND | on 6 @ USDS.1 BLACKROCK INC NPV ClassA Common Stock | 20.43 |
| 25/06/2024 | INTEREST | (Gross) As accrued onaccount 24281010 | 8.54 |
| 25/06/2024 | DIVIDEND | on 22 @ USD1.15 CME GROUP INC USD0.01 Cls ACommon Stock |
16.84 |
| 26/06/2024 | DIVIDEND | on 4400@ £.003602 FIDELITY INVESTMENT SERVICES Strategic Bond NetW Inc | 15.85 |
| 28/06/2024 | DIVIDEND | on 12132@ £,012627 HICL INFRASTRUCTURECO LTD 0.01pOrdinary Shares | 153.19 |
| 28/06/2024 | DIVIDEND | on 12132 @ £.008073 HICL INFRASTRUCTURE CO LTD0.01pOrdinary Shares | 97.94 |
| 28/06/2024 | DIVIDEND | on 984 @ £.056825 BP PLC USD0.25 Shares | 55.92 |
| 28/06/2024 | DIVIDEND | on 1021 @ £.055 BLACKROCK WORLD MINING PLC Sp Ordinary Shares | 56.16 |
| 28/06/2024 | DIVIDEND | on 8400@ £.009754 M&G SECURITIES LTD Global Macro Bond PP Inc | 81.93 |
| 28/06/2024 | DIVIDEND | on 8500 @ £.010795 &400@ £.007934 ROYAL LONDON UNITTRUSTMGRS Global Index Linked Inst Z Inc | 94.93 |
| 30/06/2024 | DIVIDEND | on 5900 @ £.0035 LIONTRUST INVESTMENTSLTD Monthly IncBond PGross Inc Sust Future Mnth Bd P Inc | 20.65 |
| 02/07/2024 | DIVIDEND | on 150@ USD.259254 VANGUARD INVESTMENTS S&PS00 UCITS ETF Inc (GBP) | 30.61 |
| 02/07/2024 | DIVIDEND | on 12 @ USD1.6337 SPOR SERIESTRUST S&P 500 ETF (GBP) | 15.43 |
| 03/07/2024 | DIVIDEND | on 5000@ £.0461 JPMORGAN GBLGROWTH & INCOME 5p Ordinary Shares | 230.50 |
| 05/07/2024 | DIVIDEND | on 79@ £.22211587 FRANKLIN TEMPLETON GBL FDSPLCWA Sht Dur Blue Chip P2 + (GBP | 17.55 |
| 05/07/2024 | DIVIDEND | on 160@ £1.1098 BLUEBAY FUNDSMGMT Gb! Inv Gr CorpBd S Inc (GBP) | 177.57 |
| 11/07/2024 | DIVIDEND | on 2300 @ £,0264 SCOTTISH MORTGAGE INVTRUST SpOrdinary Shares | 60.72 |
| 11/07/2024 | DIVIDEND | on 576@ £.15GSK PLC 31 1/4p Ordinary Shares | 86.40 |
| 12/07/2024 | DIVIDEND | on 275 @ £.4 PERSIMMON PLC 10p Ordinary Shares | 110.00 |
| 15/07/2024 | DIVIDEND | on 14 @ USD.39THERMO FISHER SCIENTIFIC INC USD1 Common Stock | 3.55 |
| 19/07/2024 | DIVIDEND | on 609 @ £.3912 NATIONALGRID PLC 12.431289p Ordinary Shares | 238.24 |
| 23/07/2024 | DIVIDEND | on 12 @ USD.59 DOLLAR GENERAL CORP USD0.875 Common Stock | 4.63 |
| 24/07/2024 | DIVIDEND | on S000 @ £.021 WORLDWIDE HEALTHCARE TRUST PLC 2 1/2p Ordinary Shares | 105.00 |
| 25/07/2024 | DIVIDEND | on 4400@ £.003201 FIDELITY INVESTMENTSERVICES Strategic Bond NetW Inc | 14.08 |
| 31/07/2024 | DIVIDEND | on 36 @ USD1.15 JPMORGAN CHASE &COUSD1 Common Stock | 27.23 |
| 31/07/2024 | DIVIDEND | on 520@ £.058 ISHARES III PLC Gb! Govt Bond UCITS ETF (GBP) | 30.16 |
| 31/07/2024 | DIVIDEND | on 60 @ £1.0221211 TWENTYFOUR GLOBAL FUNDS Corporate Bond I Dist(GBP) | 61.33 |
| 31/07/2024 | DIVIDEND | on 500@ £.3568 GUINNESSASSET MGMT Global Equity Inc Z Inc (GBP) | 178.40 |
| 31/07/2024 | DIVIDEND | on 5900@ £.0035 LIONTRUST INVESTMENTS LTD Monthly Inc Bond PGross Inc Sust Future Mnth Bd P Inc | 20.65 |
| 01/08/2024 | DIVIDEND | on 850@ £.1005 TR PROPERTY INVESTMENT TRUST 25p Ordinary Shares | 85.43 |
| 06/08/2024 06/08/2024 |
DIVIDEND on 79 @ £.24440859 FRANKLIN TEMPLETON GBL FDS PLC WA Sht Dur Blue Chip P2 + (GBP DIVIDEND on 16284.541@£.00943041 LEGAL&GENERALUNITTSTMGRSDynamic Bond I Inc StrategicBondI Inc |
19.31 153.57 |
|
| 08/08/2024 | OIVIDEND | on 85 @ EUR.69 HEINEKEN HOLDING NV EUR1.60 Shares | 42.69 |
| 15/08/2024 | DIVIDEND | on 56@ USD.55ABBOTT LABORATORIES NPVCommon Stock | 20.25 |
| 16/08/2024 | DIVIDEND | on 130@ £.132 HALMAPLC 10p Ordinary Shares | 17.16 |
| 16/08/2024 | DIVIDEND | on4500@£.025MURRAYINTERNATIONALTRUSTPLC5pOrdinaryShares | 112.50 |
| 28/08/2024 | DIVIDEND | on 10597.99@ £.019963 SARASIN INVESTMENT FUNDS Global Higher Divs P Inc | 211.57 |
|---|---|---|---|
| 29/08/2024 | DIVIDEND | on 2150@ £.0606 ISHARES II PLC USD TIPSUCITS ETF £ Hdgd Dist | 130.29 |
| 29/08/2024 | DIVIDEND | on 4400 @ £.003519 FIDELITY INVESTMENTSERVICES Strategic Bond NetW Inc | 15.48 |
| 29/08/2024 | DIVIDEND | on 1200@ £.136ABERFORTH SMALLER CO’STRUST 1pOrdinary Shares | 163.20 |
| 30/08/2024 | DIVIDEND | on 7003.87 @ £.009963 M&G INVESTMENTMGMTCorpBond Sterling PP Inc | 69.78 |
| 31/08/2024 | DIVIDEND | on 5900@ £.0035 LIONTRUST INVESTMENTSLTD Monthly Inc Bond PGross Inc Sust Future Mnth Bd P Inc | 20.65 |
| 05/09/2024 | DIVIDEND | on 245@ £.182 RELX PLC 14.44p Ordinary Shares | 44.59 |
| 06/09/2024 | DIVIDEND | on 65 @ USD.39 OTISWORLDWIDECORPUSD0.01 Common Stock (WI) | 16.29 |
| 06/09/2024 | OIVIDEND | on 400 @ £.3696 UNILEVER PLC 3 1/9p OrdinaryShares | 147.84 |
| 07/09/2024 | INTEREST | on £8000 @ 2.25% TREASURY 4 1/2% Bonds 7/09/2034 | 180.00 |
| 10/09/2024 | DIVIDEND | on 14000@ £.0106 LLOYDS BANKING GROUPPLC 10p Ordinary Shares | 148.40 |
| 12/09/2024 | DIVIDEND | on 28@ USD.75 MICROSOFT CORP USD 0.00000625 Common Stock | 13.59 |
| 16/09/2024 | DIVIDEND | on 55 @ USD.2 ALPHABET INC USD0.001 Cis ACommon Stock |
7.06 |
| 19/09/2024 | DIVIDEND | on 350@ £.4 SSE PLC 50pOrdinary Shares | 140.00 |
| 20/09/2024 | DIVIDEND | on 984@ £.060498 BPPLC USDO.25 Shares | 59.53 |
| 20/09/2024 | DIVIDEND | on 3700@ £.029 BARCLAYS PLC 25p Ordinary Shares | 107.30 |
| 22/09/2024 | INTEREST | on £8800 @ .1019929% TREASURY 1/8% I/L Stock 22/03/2029 | 8.98 |
| 23/09/2024 | DIVIDEND | on 573 @ £.2615 SHELL PLC EURO.07 Ord Shs (UK Quote) | 149.84 |
| 23/09/2024 | DIVIDEND | on 6@ USDS.1 BLACKROCK INC NPV ClassACommon Stock | 19.49 |
| 25/09/2024 | INTEREST | (Gross) As accruedon account 24281010 | 49.41 |
| 25/09/2024 | DIVIDEND | on 32@ USD1.15 CME GROUP INC USD0.01 Cls ACommon Stock |
23.25 |
| 26/09/2024 | DIVIDEND | on 150@ USD.284484VANGUARD INVESTMENTSS&P S00 UCITS ETF Inc (GBP) | 31.78 |
| 26/09/2024 | DIVIDEND | on 100@ £1.34228188 RIOTINTO PLC 10p Ordinary Shares | 134.23 |
| 30/09/2024 | DIVIDEND | on 12132 @ £.017922 HICL INFRASTRUCTURECOLTD0.01p Ordinary Shares | 217.43 |
| 30/09/2024 | DIVIDEND | on 12132 @ £.002678HICL INFRASTRUCTURECOLTD0.01p Ordinary Shares | 32.49 |
| 30/09/2024 | DIVIDEND | on 5900@ £.0035 LIONTRUST INVESTMENTS LTD Monthly Inc Bond PGross Inc Sust FutureMnth Bd P Inc | 20.65 |
| 30/09/2024 | DIVIDEND | on 1021 @ £.055 BLACKROCK WORLD MINING PLC 5p Ordinary Shares | 56.16 |
| 30/09/2024 | DIVIDEND | on 8400@ £.009218 M&G SECURITIESLTD Global Macro Bond PP Inc | 77.43 |
| 04/10/2024 | DIVIDEND | on 240@ £.197ADMIRALGROUPPLC 0.1pOrdinaryShares | 47.28 |
| 04/10/2024 | DIVIDEND | on 240@ £.513 ADMIRALGROUP PLC 0.1p Ordinary Shares | 123.12 |
| 07/10/2024 | DIVIDEND | on 5000@ £.057 JPMORGAN GBLGROWTH& INCOME SpOrdinaryShares | 285.00 |
| 07/10/2024 | DIVIDEND | on 160@ £1.054 BLUEBAY FUNDS MGMT Gb! Inv GrCorp BdS Inc (GBP) | 168.64 |
| 10/10/2024 | OIVIDEND | on 12 @ USD1.5176 SPDR SERIESTRUSTS&P 500 ETF(GBP) | 13.85 |
| 10/10/2024 | DIVIDEND | on S76@ £.15GSK PLC 31 1/4p Ordinary Shares | 86.40 |
| 14/10/2024 | DIVIDEND | on 4600@ £.031 RUFFER INVESTMENTCO0.01pRed Ptg PrefShares | 142.60 |
| 15/10/2024 | DIVIDEND | on 1450@ £.0373102 CAPITAL INTLFUND GblCorp Bd ZLDH Inc | 54.10 |
| 15/10/2024 | DIVIDEND | on 14 @ USD.39 THERMO FISHERSCIENTIFIC INC USD1 Common Stock | 3.53 |
| 17/10/2024 | DIVIDEND | on 200@ £.4723 DIAGEO PLC 28 101/108pOrdinaryShares | 94.46 |
| 22/10/2024 | DIVIDEND | on 12 @ USD.S9 DOLLARGENERAL CORPUSD0.875Common Stock | 4.60 |
| 23/10/2024 | DIVIDEND | on S90@ £.052154 PRUDENTIAL PLC 5p Ordinary Shares | 30.77 |
| 31/10/2024 | DIVIDEND | on 60@ £1.070307 &90 @ £.54276083 TWENTYFOURGLOBALFUNDSCorporate Bond I Dist (GBP) | 113.07 |
| 31/10/2024 | DIVIDEND | on 36@ USD1.25 JPMORGAN CHASE&COUSD1 Common Stock | 29.31 |
| 31/10/2024 | DIVIDEND | on 5900@ £.0035 LIONTRUST INVESTMENTS LTDSust Future Mnth Bd P Inc | 20.65 |
| 31/10/2024 | DIVIDEND | on 14000@ £.005744 ARTEMIS FUND MGRS Corporate Bond F Inc | 80.42 |
| 31/10/2024 | DIVIDEND | on 3500 @ £.02144 BLACKROCKASSETMNGRSEUROPEABSOLUTE ALPHA Acc | 75.03 |
| 07/11/2024 | DIVIDEND | on 5 @ EURI.52 ASML HOLDINGS NVEURO.09 Shares (Post Split) | 5.35 |
| 08/11/2024 | DIVIDEND | on 305 @ £.2 PERSIMMON PLC 10p Ordinary Shares | 61.00 |
| 18/11/2024 | DIVIDEND | on 56@ USD.5S5ABBOTTLABORATORIES NPVCommon Stock | 20.64 |
| 18/11/2024 | DIVIDEND | on 4500@ £.025MURRAY INTERNATIONAL TRUST PLC 5p Ordinary Shares | 112.50 |
| 27/11/2024 | DIVIDEND | on 10597.99 @ £.013962 SARASIN INVESTMENTFUNDS Global Higher Divs P Inc | 147.97 |
| 03/12/2024 | DIVIDEND | on 5900@ £.0035 LIONTRUST INVESTMENTSLTD Sust Future Mnth Bd P Inc | 20.65 |
| 06/12/2024 | DIVIDEND | on 65 @ USD.39 OTISWORLDWIDE CORP USDO0.01 Common Stock (WI) | 16.81 |
| 06/12/2024 06/12/2024 |
DIVIDEND DIVIDEND |
on 2150@ £.055 ISHARES II PLCUSDTIPSUCITS ETF £ Hdgd Dist on 220@ £.3663 UNILEVER PLC 3 1/9p Ordinary Shares |
118.25 80.59 |
| 07/12/2024 | INTEREST | on £8200@ 2.125% TREASURY 4 1/4% Stock 7/06/2032 | 174.25 |
| 12/12/2024 | DIVIDEND | on 28@ USD.83 MICROSOFT CORPUSD 0.00000625 Common Stock | 15.44 |
| 13/12/2024 | DIVIDEND | on 2300 @ £.016 SCOTTISH MORTGAGE INVTRUST SpOrdinary Shares | 36.80 |
| 18/12/2024 | DIVIDEND | on 55 @ USD.2 ALPHABET INC USDO.001 Cis A Common Stock |
7.33 |
| 19/12/2024 | DIVIDEND | on 573@ £.2703 SHELL PLC EURO.07 Ord Shs (UK Quote) | 154.88 |
| 20/12/2024 | DIVIDEND | on 984 @ £.062959 BP PLC USDO.25 Shares | 61.95 |
| 20/12/2024 | OIVIDEND | on 1021 @ £.055 BLACKROCKWORLD MINING PLC Sp Ordinary Shares | 56.16 |
| 23/12/2024 | INTEREST | (Gross) As accrued on account 24281010 | 43.70 |
| 23/12/2024 | DIVIDEND | on 6@ USDS.1 BLACKROCK INC USD0.01 Common Stock | 20.58 |
| 27/12/2024 | DIVIDEND | on 32 @ USD1.15 CME GROUP INC USDO.01 Cis ACommon Stock |
24.77 |
| 31/12/2024 | DIVIDEND | on 12132 @ £.015862 HICL INFRASTRUCTURE CO LTD 0.01p Ordinary Shares | 192.44 |
| 02/01/2025 | DIVIDEND | on 8900 @ £.022568 ROYAL LONDON UNITTRUST MGRS Global Index Linked Inst Z Inc | 200.86 |
| 02/01/2025 | DIVIDEND | on 12@ USD1.5803 SPDR SERIESTRUST S&P500 ETF (GBP) | 15.04 |
| 06/01/2025 | DIVIDEND | on 5900 @ £.0035 LIONTRUST INVESTMENTS LTD Sust Future Mnth Bd P Inc | 20.65 |
| 06/01/2025 | DIVIDEND | on 5000@ £.057 JPMORGAN GBLGROWTH&INCOME 5p Ordinary Shares | 285.00 |
| 08/01/2025 | DIVIDEND | on 12132 @ £.004738 HICL INFRASTRUCTURE COLTD 0.01p Ordinary Shares | 57.48 |
| 09/01/2025 | DIVIDEND | on 160@ £1.2368BLUEBAY FUNDSMGMT Gobi InvGrCorpBd S Inc (GBP) | 197.89 |
| 09/01/2025 | DIVIDEND | on 576@ £.15 GSK PLC 31 1/4p Ordinary Shares | 86.40 |
| 09/01/2025 | DIVIDEND | on 5000@ £.007 WORLDWIDE HEALTHCARE TRUST PLC 2 1/2p OrdinaryShares | 35.00 |
| 10/01/2025 | DIVIDEND | on 1800@ £.0565 TR PROPERTY INVESTMENT TRUST 25p Ordinary Shares | 101.70 |
| 10/01/2025 | DIVIDEND | on 150@ USD.30615VANGUARD INVESTMENTSS&P 500UCITS ETF Inc (GBP) | 37.15 |
| 14/01/2025 | DIVIDEND | on 786@ £.1584 NATIONAL GRID PLC 12.431289p Ordinary Shares | 124.50 |
| 15/01/2025 | DIVIDEND | on 14 @ USD.39THERMO FISHERSCIENTIFIC INCUSD1 Common Stock | 3.77 |
| 16/01/2025 | DIVIDEND | on 32 @ USD5S.8CME GROUP INC USD0.01 CisACommon Stock | 128.58 |
| 17/01/2025 | DIVIDEND | on 1450@ £.0874 CAPITAL INTLFUND Gb! Corp Bd ZLDH Inc | 126.73 |
| 21/01/2025 | DIVIDEND | on12@USD.59DOLLARGENERALCORPUSD0.875CommonStock | 4.88 |
‘ ‘
| 31/01/2025 | DIVIDEND | on 36@ USD1.25 JPMORGAN CHASE &COUSD1 Common Stock | 30.64 |
|---|---|---|---|
| 31/01/2025 | INTEREST | on £11000@.125% TREASURY 1/4% Gilt 31/07/2031 | 13.75 |
| 31/01/2025 | DIVIDEND | on 130@ £.09HALMA PLC 10pOrdinary Shares | 11.70 |
| 04/02/2025 | DIVIDEND | on 150@ £1.072386TWENTYFOUR GLOBAL FUNDS Corporate Bond I Dist(GBP) | 160.86 |
| 04/02/2025 | DIVIDEND | on 500@ £.2971 GUINNESSASSETMGMT Global Equity Inc Z Inc (GBP) | 148.55 |
| 04/02/2025 | DIVIDEND | on 14000@ £.012465ARTEMIS FUNDMGRSCorporate Bond F Inc | 174.51 |
| 06/02/2025 | DIVIDEND | on 4930.362 @ £.00527335 LIONTST INVESTMENT FUNDS Sust Fut Monthly Inc BdM Inc | 26.00 |
| 17/02/2025 | DIVIDEND | on 56 @ USD.59 ABBOTTLABORATORIES NPVCommon Stock | 22.19 |
| 17/02/2025 | DIVIDEND | on 4500@ £.025MURRAYINTERNATIONALTRUSTPLC SpOrdinary Shares | 112.50 |
| 19/02/2025 | DIVIDEND | on 70@ EURS.2 SIEMENSAGNPV Shares (Regd) | 220.89 |
| 26/02/2025 | DIVIDEND | on 10597.99@ £.010295 SARASIN INVESTMENTFUNDS Global Higher Divs P Inc | 109.11 |
| 26/02/2025 | DIVIDEND | on 2150@ £.0524 ISHARES II PLC USD TIPS UCITSETF £ Hdgd Dist | 112.66 |
| 27/02/2025 | DIVIDEND | on 350@ £.212 SSE PLC 50pOrdinaryShares | 74,20 |
| 03/03/2025 | DIVIDEND | on 5@ EUR1.52ASML HOLDINGS NV EURO.09 Shares (Post Split) | 5.30 |
| 06/03/2025 | DIVIDEND | on 4930.362 @ £.0042 LIONTST INVESTMENT FUNDS Sust Fut Monthly IncBdM Inc | 20.71 |
| 07/03/2025 | DIVIDEND | on 65 @ USD.39 OTISWORLDWIDECORPUSD0.01 Common Stock (WI) | 16.59 |
| 07/03/2025 | INTEREST | on £8000@ 2.25% TREASURY 4 1/2% Bonds 7/09/2034 | 180.00 |
| 10/03/2025 | DIVIDEND | on 970@ £.06ABERFORTH SMALLER CO'STRUST 1pOrdinaryShares | 58.20 |
| 10/03/2025 | DIVIDEND | on 970@ £.3ABERFORTH SMALLERCO’STRUST 1pOrdinary Shares | 291.00 |
| 13/03/2025 | DIVIDEND | on 28@ USD.83 MICROSOFTCORPUSD 0,00000625Common Stock | 15.17 |
| 17/03/2025 | DIVIDEND | on 9900@ £.013098 SCHRODER INVESTMENTMGMTAsian IncomeL Inc | 129.67 |
| 17/03/2025 | DIVIDEND | on 55 @ USD.2 ALPHABET INC USD0.001 Cis ACommon Stock |
7.18 |
| 22/03/2025 | INTEREST | on £8800@ .103148%TREASURY 1/8% I/LStock 22/03/2029 | 9.08 |
| 24/03/2025 | DIVIDEND | on 573@ £.2779 SHELL PLC EURO.07 Ord Shs (UK Quote) | 159.24 |
| 24/03/2025 | DIVIDEND | on 6@ USDS.21 BLACKROCK INC USD0.01 Common Stock | 20.41 |
| 26/03/2025 | INTEREST | (Gross) As accruedon account 24281010 | 34.24 |
| 26/03/2025 | DIVIDEND | on 32 @ USD1.25 CMEGROUP INC USD0.01 Cis ACommon Stock | 26.21 |
| 28/03/2025 | DIVIDEND | on 220@ £.3775 UNILEVER PLC 3 1/9p Ordinary Shares | 83.05 |
| 28/03/2025 | DIVIDEND | on 984@ £.061761 BPPLC USD0.25 Shares | 60.77 |
| 31/03/2025 | DIVIDEND | on 12132@ £.01442 HICL INFRASTRUCTURECO LTD 0.01p Ordinary Shares | 174,94 |
| 31/03/2025 | DIVIDEND | on 12132 @ £.00618 HICL INFRASTRUCTURE COLTD 0.01p OrdinaryShares | 74.98 |
| 01/04/2025 | DIVIDEND | on 4930.362@ £.0042 LIONTST INVESTMENT FUNDS Sust Fut Monthly Inc BdM Inc | 20.71 |
| 15/05/2024 | CMS Interest | 31.17 | |
| 31/05/2024 | CMS Interest | 1.22 | |
| 15/11/2024 | CMS Interest | 12.68 | |
| 14,665.38 |
THE PROVOST TULLOCH FUND 1973
Appendix2
INVESTMENT TRANSACTIONS FOR THE YEAR TO 5 APRIL 2025
==> picture [631 x 434] intentionally omitted <==
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Holding|Cost|Disposals|Gain/|Cost|Units (sold)/|= Holding|Market Value|
|06/04/24|06/04/24|Additions|(at|cost)|Proceeds|(Loss)|05/04/25|purchased|05/04/25|05/04/25|
|ABBOT|LABORATORIES NPV COMMON STK|56|4,776.05|4,776.05|56|5,386|
|ABERFORTH SMALLER COMPANIES|1200|7,260.47|1,391.59|3,702.26|2,310.67|5,868.88|-230|970|11,989|
|ADMIRAL GROUP|240|6,785.30|6,785.30|240|6,974|
|ALPHABET|INC USD CLASS A COMMON STK|55|6,097.06|6,097.06|55|6,189|
|ARTEMIS FUND MGRS CORPORATE BOND E INC|12,994.80|100.04|100.04|0.00|12,894.76|12,723.627|12,723.627|12,680|
|ASML HOLDINGS NV|EURO.09|3,504.37|3,504.37|5|5|2,395|
|BARCLAYS|PLC ORD 25P|3700|6,623.53|6,623.53|8,393.34|1,769.81|0.00|-3,700|0|
|BLACKROCK ASSET MNGRS EUROPE ABSOLUTE|3500|5,911.50|75.03|5,986.53|3,500|6,576|
|BLACKROCK IN NPVCLASS A COMMON|STOCK|6|3,000.81|3,000.81|6|3,814|
|BLACKROCK WORLD|MINING TRUST|1021|2,907.00|2,907.00|1,021|4,298|
|BLUEBAY FD MANAGEMENT GBL INV CORP BD|160|13,691.97|13,691.97|160|14,546|
|BP GROUP|984|5,260.00|5,260.00|984|3,648|
|CAPITAL INT'L FUND GBL CORP BD|11,237.50|69.01|69.01|0.00|11,168.49|1,450|1,450|10,991|
|CME GROUP|INC COMMON STK|22|3,885.86|1,613.41|$,499.27|10|32|6,293|
|DIAGEO PLC|200|5,983.78|5,983.78|200|4,024|
|US DOLLAR GENERAL COMMON STK|12|2,475.22|2,475.22|12|859|
|FIDELITY|INVESTMENT SVCS STRAT BD|4400|5,727.92|5,727.92|4,848.80|-879.12|0.00|4,400|0|
|FIRST STATE ASIA PACIFIC LEADERS FUND B|675|2,267.00|2,267.00|7,281.09|5,014.09|0.00|675|0|
|FRANKLIN TEMPLETON LEGG MASON GLOBAL FUNDS|79|7,916.32|7,916.32|7,509.74|-406.58|0.00|79|0|
|GSK|576|4,098.71|4,098.71|$76|8,165|
|GUINESS ASSET MANAGEMENT GLOBAL EQUITY|500|12,594.77|12,594.77|500|15,328|
|HALEON PLC|720|909.29|909.29|2,336.04|1,426.75|0.00|-720|0|
|HALMA pic|130|3,099.90|3,099.90|130|3,253|
|HEINEKEN HOLDING|85|6,297.37|6,297.37|4,835.73|-1,461.64|0.00|-85|0|
|HENDERSON|EUROTRUST|5000|1,871.00|1,871.00|8,412.85|6,541.85|0.00|-5,000|0|
|HICL INFRASTRUCTURE CO|12132|14,395.31|14,395.31|12,132|13,078|
|1 SHARES|Il PLC US$ TIPS UCITS|2150|11,894.01|11,894.01|2,150|10,619|
|1 SHARES|PLC||! GLBL GOV BOND UCITS|520|2,382.69|2,382.69|2,426.51|43.82|0.00|-520|0|
|1 SHARES PHYSICAL GOLD|230|5,846.27|5,846.27|230|10,442|
|JP MORGAN CHASE & CO USD|1 COMMON STK|36|3,900.94|3,900.94|36|5,850|
|JP MORGAN GLOBAL GROWTH &|INC|5000|14,752.78|14,752.78|5,000|24,650|
|LEGAL & GENERAL DYNAMIC BOND X|16284.541|10,321.00|10,321.00|8,888.10|-1,432.90|0.00|-16,284.541|0|
|LIONTRUST MONTHLY|INCOME BOND|5900|6,085.41|6,085.41|-969.638|4,930.362|4,829|
|LLOYDS BANKING GROUP|14000|7,524.01|7,524.01|14,000|9,100|
|M & G SECURITIES LTD CORP BOND|7003.87|7,084.17|7,084.17|6,011.42|-1,072.75|0.00|=|-7,003.87|0|
|M&G SECURITIES|LTD GBL MACRO BD|J) INC|8400|8,002.30|8,002.30|6,731.76|-1,270.54|0.00|-8,400|0|
|MICROSOFT CORP USD COMMON STOCK|28|4,534.13|4,534.13|28|7,787|
|MURRAY INTERNATIONAL TRUST|4500|11,592.58|11,592.58|4,500|11,093|
|NATIONAL GRID|609|3,596.00|1,141.65|4,737.65|177|786|8,127|
|OTIS WORLDWIDE CORP US COMMON|STK|65|3,985.90|3,985.90|65|4,771|
|PERSIMMON|275|3,312.00|$11.24|3,823.24|30.00|305|3,555|
|POLAR CAPITAL TECHNOLOGY TRUST|800|5,115.00|5,115.00|7,200.00|8,000|21,080|
|PRUDENTIAL|590|2,621.00|2,621.00|590|4,406|
|RELX|245|1,343.00|301.60|1,928.94|1,627.34|1,041.40|“55|190|7,250|
|RIO TINTO|100|3,433.93|3,433.93|100|4,239|
|ROYAL LONDON GLOBAL|IL BOND Z|INC|8900|11,749.48|1.14|1.14|0,00|11,748.34|8,900|10,733|
|RUFFER INVESTMENT CO|3600|10,560.00|2,752.55|13,312.55|1,000.00|4,600|13,064|
|SARASIN|INTL EQUITY|INC FUND INC|10597.99|11,645.85|11,645.85|10,597.99|20,274|
|SCHRODER|INV MGMT ASIAN INCOME|L|INC|7,660.62|7,660.62|9,900|9,900|7,120|
|SCOTTISH|MORTGAGE & TRUST|PLC Ord|25p|2300|978.00|978.00|2,300|19,674|
|SHELL 8 SHARES|573|7,250.00|7,250.00|$73|14,219|
|SIEMENS|70|4,610.00|4,610.00|70|10,858|
|SPDR SERIES TRUST S &|P|500|12|4,284.60|4,284.60|12|4,802|
|SCOTTISH|& SOUTHERN ENERGY|350|4,930.00|4,930.00|350|5,604|
|THERMO FISHER SCIENTIFIC|INC USD1|14|5,784.89|5,784.89|14|4,738|
|TR PROPERTY INVESTMENT TRUST|850|3,192.64|3,213.23|6,405.87|950|1,800|5,229|
----- End of picture text -----
~*~
TREASURY STOCK 0.125% INOX LKD 8800 11,558.51 11,558.51 8,800 14,376 UK TREASURY 4.25% 4600 4,872.97 3,742.42 8,615.39 3,600.00 8,200 8,374 TREASURY STOCK 0.25% 31/07/2031 8,668.95 8,668.95 11,000 11,000 8,731 TREASURY 4.5% BONDS 07/09/2034 8,517.96 8,517.96 8,000 8,000 8,108 TWENTYFOUR GLOBAL FUNDS 60 6,136.83 7,774.20 47.48 47,48 0.00 13,863.55 90 150 12,668 UNILEVER 400 8,060.00 3,627.13 8,633.87 5,006.74 4,432.87 -180 220 10,327 VANGUARD S & P UCITS 150 5,310.00 73.86 3.86 5,313.86 150 11,647 WORLDWIDE HEALTHCARE TRUST 5000 3,748.74 3,748.74 5,000 14,050 355,835.77 73,407.93 ——6 4,936.72 82,158.12 17,221.40 364,306.98 482,880