REGISTERED CO.WANY NUMBER: 1294RS (Scoti8lld)
REGISTERED CHARITY NUMBER: SC018250
Report of tbe Trntees and
FiDan¢ial S¢a¢ements for the Year Ended 31 December 2024
for
David Cargill House
Stevenson & Kyles
Clwtered Accountants
Statutory Audvtor
25 Sandyford PIAce
Glasgow
G3 7NG

David Cargill House
Contents of ¢h¢ Fingncigl Statements
for the YeAr Ended 31 December 2024
Reference and Admini4tr8tive Detsils
Report of the Trnstees
Report of the IndepeDdent Auditon
6 to 9
Ststemenl of Financial Activitic
io
Ststsment of FiJJaM¢ig1 Pa8ition
11 to 12
Statement of Cash Flows
13
Nots to the Statement of Flows
14
Notes to the FiDaD¢ial StateDJ¢nts
IS to 26

David Cargill House
Reference Adnththtrntive Details
for the Ytar Ended 31 December 2024
TRUSTEES
COMPANY SECIiETARY
REGISTERED OFFICE
&7 Great Western Tetrace
Glasgow
G12 OUP
REGISTERED COMPANY
1294RS (Scotland)
SC018250
NUMBER
AUDTIORS
Stevenson & Kyles
Chartered Accountants
Statutory Auditor
25 sa￿dyf0rd Place
Glasgow
G3 7NG
SOLicrroRS
Miller Beckett & Jackson
190 St Vinccllt Strcct
Glasgow
G2 5SP
BANKERS
Batth of Scotland
54-62 Sauchiehall StreEt
Glasgow
G2 3AH
Page I

David Cvdrgill House (R￿ls(ered llllmber: 1294RS)
Report ofthe Trnstees
for tbe Year Ended 31 December 2024
The Board of Trustees of David Cargill House (fornierly known as The Management Committee) present
th¢ir annual r¢port together with the audit¢d financial statements of the clwity for the year I Sanuary 2024 to
31 Dcccmbcr 2024. Th¢ annual serves the putwJs¢s of kn)th th¢ Board of TnEStCCs rcIx)rt and a
DircctOT5' report under company law. The Board of Trustees confirn) that the annual report and Iinanciaj
stst¢ments of the charitable company comply with the CUTreni Sthtutory requirementy the Tequirements of the
charitable company's governing d(rument and the provisions of the Statement of Recommended Practicc
(SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting StaDdard
applicable in the UK and Republic of Ir¢laDd (FRS102) (effective l January 2019). Since the charity
qualifies as a small ¢harity under section 382 of the Companies Act 2006, the Strat¢gi¢ Reports r¢qUi￿d of
¢dium and largc compani&s under the Companies Act 2006 (Strategic Report and Dircctors, Rcport)
Regulations 2013 have been omitted. David Cargill House was subsequently formally confirnied as
ottish Charitable Incorporated Organisation (SCIO) on 30th May 2025.
OBJECTIVES AND ACTIVITILS
Polieies and objective
In tcnns of the Rules. th¢ objects of the SfKiety to provide housing and ally associated am¢niti¢s for
elderly per50n5 of lirnitcd means uwn tern)s appropriate to their means. The Board of Trustccs has absolutc
Control oveT the business of the Society and is charged tr apply any surplus to the reserve fund or for such
charitable PUTFrf)ses as the Board of Trustees may detsmine.
STRATEGIC REPORT
Arbievemellts and pcrfomance
Charitable activitie5
all the staff at the home for their hard worl dedication and sacrifices made in the continuing developmeni of
the home. Income from residents. fees increased in 2024 to £2,113.185 due to an increase in fL]nding rates
despite some beds still beill8 vacant. In the 5arne period costs of charitable activities havc in¢￿ased to
£2,170,048. this was due to overall inctrased costs. most notably an increase in staff costs due to additional
overtime workin8 to meet thc incrca5ing needs of thc r&8idcnt group. Thc Tising costs of food and drink hav¢
also contributed to the inGrca5¢d costs.
It is undoubtedly due to the care aDd dedication of our staff who continue to PTovide high quality care in a
homely enviTonment to an increasingly frdil clientele that our aims have been mel and we confident that
they will continue to be. Thc excellent standard of care is evidenced by the rep)rts on the home from thc
CaTe Inspectorate.
The impact of the COVItk19 pandemic has si8tJific&ntly subsid&J once again during the yeftr, meaning that
the families of residents are free to visit the bornc as they ple&se and we*e been able to sustain the
organi5ation of outings for residents again. However. there remains knock-on effects. creating Si￿1r]￿lt
challenges for the care sector. Challenging working CA)nditions and negativ¢ publicity during the pandemic
continues to exacerbate staff difficulties the industy" and thc financial cliTnate remains a constant fo¢us of
the Board of Trustees.
Page 2

David Cargill House (Regislered number: 1294RS)
Rewrt ol tbe Trustees
for tbe Year Ended 31 December 2024
STRATEGIC REPORT
FinaDcial review
Reserves policy
The tolal reserves at 31 tkcember 2024 were £1,325J94. Of thes¢ £1.546.900 are restricted and can only be
used foT the purpose5 for which they were given. This leave5 negative free reserves of £221,506. The
members of the Board of TTUSte¢s have established a poli¢y whereby the ur￿estrICted funds not committed or
invest¢d in thngiblc as5cts should equate to three months of rcsources expend¢(L This level of free reserves
not yet been achi¢v¢d. The 13oard of Trustees and senior stsff continuc to explore a numb￿ of options
with the aim of PToducing a positive figure in unrestricted fund5. The charity does not hRve any fuDds either
held in xnvesttllcnts or available for investment other than short terni bank deposits whi¢h earn interest at the
prevailing rates.
Going concern
After making appropriate enquiries. the Board of Trustees have a re&8onable expectation that the charity has
adequate resources to continue in operational existence fr>r the foreseeable future. For this reason, they
continu¢ to adopt the going conccrn b￿lS in prcparing these fmanciai statements.
Future plans
To better meet the needs of the residents of the home. the Board of TTUSiees intend to pursue plans to
reassign current otTicc atkd bedroom space to create 2 new single ensuitc bcdrooms and r¢duc¢ the numbcr of
doublc bcdr(x)ms by 2. bringing available single rooms to 33 and double T(x)ms to 6.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity ¢onstitutioD
In 1951 Glasgow Old Peoples, Homes Limited was set up &s a HO￿$l￿g Society und¢r the Industrial and
Provident Societies Act 1893 (renamed the CcM)perative & Community Benefit5 Society Act 2014). company
registration number 1294RS. and in 1952 property at 617 Great Western TeTTace was purchased for the
PUTwse of providing a home for old people in need of cale and attention. In 1959 the name of the Soci¢ty
was clwlged to David Cargill House. Th¢ company is a registered Scottish elwlty, number SC018250.
Methods of zdppointment or elertion ofmanagement Commitlee
The management of the charity is the resEx)nsibiLity of the Mallagement Committee (Board of Trustees) who
are elected and co-opted under the tffms of the TTUSt De¢d.
Page 3

David Ca￿111 House (Registered number: 1294RS)
Re￿rt of the Trllste
for the Year Ended 31 December 2024
STRUCIURE, GOVERISANCE AND MANAGEMENT
Organi5atKoDal Strllc￿re
Thc mcmbers of the ManageTnent Committee. tho aTe also the TnLSfftS for the purpK)ses of charity law. and
who 5erYed during the year were..
In tenns of thc rule5 of the Swi¢ty th¢ responsible wple are the members of Ihc Management Committee.
listed abov¢
ubsequelldy p&sscd away on 30 Janua
7024).
'as elected to thc Board
in Novcmbcr 2014. Thc Chairn]an at year end 2024 was
cleLied 01) 6 1.¢
ruary 2024). On¢ third of
the memlxrs are due to retire by roiation every yw and ma), be r¢-el￿ted at)d the Chairman is normally
elected at the first meeting after the Annual Generdl Meeting. The administrative address of the Society is..
617 Great Westffli Terrace, Glasgow, G12 OUP. None of the Trustees has any kn¢ficia] interest in the
company. All of the members of the Management Committee are members of the Company and guarantee to
contribute £1 in the event of a windin
esigned &s a Trustee and Chair of the Manag¢m¢nt
Comnitt¢¢ in March 2025 and
as elected Chair of the Board of Trust¢¢s.
lThductioD aud iraining of Managemen¢ Commli
The charlty has reviewed its p)licies re1￿ing to induction and training to ¢ornply with the guidelines and
recornmendations from the Office of the Scottish Charity Regulator. This ensures that its policies are
suificiellt to meet the training needs of its Comn)ittre M¢mb¢rs and staff and that the charity continu¢s to
maintain th¢ highast ￿sSIble standards of Service delivery.
Key managem¢Dt ￿m￿neratiO
The Board of Trustees consider the management F¢rsoDnel of the eharity to be the trustees and the senior
management team (who are in charge of controllin& running and operating the charity on a day to day basis).
All trustees givc thcir time freely and no tn￿teeS Teceived remuneration in thc yw. The pay of senior stsff is
Teviewed annually and increased in acconlance with averd8e earnings.
Related parties
Th¢ David William Traill Cargill Fund. a r¢gist¢r¢d S¢ottisb Charity. is ¢onsiikrcd to be a related party.
Rlsk management
The Board of 'l'rust¢¢s have a duty to idcntify aDd rcvicw the risks to which the Charity is exposed and to
ensure apptopriate Controls are in place to provide reasonable &ssut7nce against fraud and ermr. The Board
of TTl￿eS consider that the major risks which they fac¢ ate. in common with other care providers in the
scctor, continuity of illcome, rccruitmcnt and retention of quality staff, dI￿l¢U1ti¢S with prop¢ty
n)aintenance alld reputational damage arising from a decline in the quality of carg for Te5idents. Thc potential
impact of thc% risk5 15 tuinirnisc4J by Tegular Tevtew of finance4 care in staff selcction. rcgular 5upcrvision
of the Work dolle the Home. rigorous s￿ff training alld appraisal, and supwrt from the mana8em¢nt team.
EVEI¥JTS SINCE THE END OF THE YEAR
InfOrn￿tioll reIating to events since the end of the y¢aT is given in the not¢s to the fiuancial statements.
Page 4

David Cra￿111 Housc
RepDrt of the Trustees
for the Year Ended 31 December 2024
STATEM￿ OF TRUSTKES, RESPONSiBItITIES
The trustees (who are also the director5 of David Cargill House for the purposes of compauy law) aTe
responsible for preparing the Report of the Tn￿ and the fiDaDcial statements in ac£ordance with
pplicable law and United Kingdorn Accounting Stalldar&s (United Kingdo￿ GeDernlly A¢xeptsd
Accounting Practice).
Compwiy law requires the tnLSte¢s to prepare finallcAa] stat¢meJ)ts for financiaI year which giv¢ a true
d fair view of the state of affairs of the charitable company aDd of th¢ illcoming resoutces and appliGation
of Tesoityces, including the illCOtDe and expendittre. of the chtiritable compauy for that PCTicxL In prepaTillg
select suitable ac¢ouutiDg policirs and thell apply them consi*¢llty,
observe th¢ m¢thod5 and principks in the SORP.
makc Judg￿ll¢￿ts and ¢stimatcs that arc reasooabl¢ aBd prudent
state whether applicable accounting Stalld￿ have becll follow￿1 subJ￿t to any matsTial departurcs
disclosed and explained in the fmancial statements"
prepar¢ the fllMDcial statements oll the going concern basis Unless it is inappropriate to presume that th¢
oharitable company will cA)ntiou¢ in business.
Th¢ trustees ate respork￿l)le for keepiJJg pr(w¢r acc4)unting re￿rdS wbith di￿lOSe with Te&soDable ￿U[aCY
at ally tÈrn¢ thc f]Danciai tM)sition of th¢ charitsble c4)mpaDy and to cllabl¢ thcm to Cllsu￿ that the fmancial
statements romply with the Companies Act 2006. They are also reS￿nSIble for safegLthtdiDg the a55ets of
the chaTifabl¢ ￿)rnpany and hence for tsking re&wnabl¢ 5t¢ps for the prevenuon 8nd dcl￿tiOn of fraud 4Dd
other irre8ularAties.
In so far &£ the tntss are awar¢:
there is no relevant audit luf0rn￿tith of which the cbaritabl¢ companys auditors are unaware. aDd
thc tru5tccs have taken aIl steps that th¢y ougbt to have tak￿ to make thentseEYes aware of any relevanl
audit infonllation and to establish that the auditors av4re of that infonllation.
A[￿lTORs
TIK auditor4 Stevenson & Kyl¢4 will ￿ protK)sed for re-app)inlment at a n￿ling of the Managelllent
Committee.
Report of thc trwtCC5. iWA)fFM)ratin8 a strat¢8iG approvcd by order of th¢ board of ITUStee& as the
CoMpa￿Y dire¢tois. on 5 Swtunber 2025 and signd on tbe boarfs behalf by:
Page 5

Rewjrt of the IndtpendeDÉ Auditors lo the Trustees aDd Members of
David Caryill House
OpilllOII
We have audited the financial ststements of David C8rgill House (the 'charl￿b]e company,) for the year
ended 31 December 2024 which ¢ompris¢ th¢ StstemeDt of Financial Activities, the Statsment of Financial
Position. the Statement of Cash Flows and notes to the financial ststements. including a summary of
signifiwit accounting policies. The financial Tewrting fra￿¢wOrk that ha5 been applied in their preparation
is applicable law and Unitcd Kingdom Accounting Standards (United Kingdom Genernlly Accepted
Accounting Practice).
]n our opinion th¢ finan¢iaI statements:
give a irn¢ and fair view of the state of the ¢haritabl¢ ￿Mpan￿S affatts &8 at 31 DecemkT 2024 and of its
incoming r¢sOur￿S and application of resources, including its income alld expenditure, for the year then
have been prowly prepared in accordance with United Kingdom Generally Accepted A￿ounting
Practice. and
have been prepared in accordance with the requirements of th¢ ComEWLies Act 2006, the Charities and
Tn￿tee Investhient (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland)
R¢gulations 2006.
Basis for OPIDIOII
We conducted our audit in accoTdance with International Standards on Auditing (UK) (ISAS (UK)) and
applA¢able law. Our TCSPOn5ibilitie5 under those standards arc further described in the Auditors,
Tesponsibilities for the audit of the financial statements section of our r¢FKJrt. We are independent of the
charitable company in accordancc with thc cthical rcquircmcnts that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical StsndaTd, and we have fulfilled OUT other ethical
T¢sponsibilit1¢5 in accordance with these xequirtments. We believe that th¢ audit cvid¢J>c¢ we have obtained
is sufficient and appropriat¢ to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the fjnancial statements, we have concluded that the trustees, use of the going concern basis of
accounting in thc preparation of the fjnancial ststements is apptopriate.
Based on the work we have perform￿ we have not identified any material uncertainties relating to event5 or
conditions thaL individually or collectively. may cast signifi&￿t doubt on the charithble wmparty's ability to
continue as a going ¢on¢ern for a period of at least Iwelve months from when the fjnancial 5tat¢tnents a
authorised for issue.
Our responsibilities and the res￿nsIbilItieS of the trustees with respect to going concern are described in the
relevant 5CCtions of thi5 retK)rt.
Other informatioD
The trustees are responsible for the other infornLqtion. The other inforn￿tIOn comprises the infom)ation
included in the Annual ReporL other than the financia] statements and our Rwrt of the IndetKndcnt
Auditors thereon.
Our opinion on the financial statements does not cover the other illforniation anl except to th¢ extent
othcrwise expliciily stat¢d in our reprt we do not express any forn) of assuran￿ WDclusion thereon.
Jn W1￿¢￿tIon with our audit of the fllwiciai stat¢m¢nl& our Yes￿￿$]bIlity is to read the other infonnation
and, in doing so. consider whether the other inforniation is materially in￿nsiStent with the fmancial
statctncnts or our knowledge obtaincd in thc audit or otherwi5c appcar5 to be materially misstated. If we
identify such matcrial incoDSiStencies or apparent material misstatements. we are Tequired to ddcrniine
wh¢theT this gives rise to a n￿terial misslatement in the financial staternents themselves. If, based on the
work we have perfornled we CODcludc that there is a mal¢rial misstatement of this other information, we are
required to report that fact. We have nothing to report in this r¢8ard.
Page 6

Report of the Independent Auditors to the Trustees and Members of
David Cargill House
Opilliolls on other matters prescribed by the Companies A¢t 2006
In our opinion, based on the work undertaken in the COU￿ of thc audit
the inforniation given in the Report of the Trnstees for the financial year for which the fllW)cial
statements ar¢ prepared is consistent with th¢ financial statcmcnts" and
thc Report of thc TTU5tccs ha5 LKcn prepared in accordance with applicable lega] requirements.
Matter5 on which we are required lo report by eiceptiOD
ID the light of the knowledge and understallding of the charitable company and its environment obtained in
the course of the audiL ￿ hav¢ not identified material mis5tatcmeDts tll the Report of the Trustees.
We have nothing to report in respect of the following matters wheTe the Companies Act 2006 and the
Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to trport to you if, in our opinion..
adequate and proper accounting records have Dot been kept or returns adequat¢ for our audit have not
been received from branches not visited by us" or
the financial statements are not in agreement with the a￿Unting records and returns. or
ccrtain disclosures of thist¢es' remuneration sp¢cified by law arc not made" or
we have not received the InfoTu￿ts0ll and explanations we requiTe for our audiL
RespoDsibilities of ¢rustee8
A5 cxplained more fully in th¢ Stat¢m¢nt of TnLstres' Responsibilities, the truste¢s aTe rcsponsible for the
preparation of the financial sthtements aDd for beillg satisfied that they give a true and fair view. and for such
internal control as thc trustees deterniine is nece&wy to cnable the pr¢parntion of fitwlcial statements that
are fre¢ from mafrrial misstatemen¢ whether due to fraud or error.
In preparing the financial slatements. the trustees are restKJnsible for assessing the charitable companqs
ability to continue as a going concern. disclosin& as applicabl4 matt¢r5 related to going concern and using
the going concern basis of accounting unless the tTr￿S either intend to liquidate the charitable cornpany OT
to ￿8s¢ operations. or have Tr) realistic ￿ternative but to do so.
Page 7

Report ofib¢ Indep¢DdeDI Auditor5 to the Trustees and Members of
David Cgryill House
Our respoDsibilities for the audit of the financial statements
Our objcctives are to obtsin reasonable assurance aErf)ut whether the financial statenKnts as a whole aTe free
from material misstatemellL whether due to fraud or error. and to issue a R¢]M)rt of the Indcpcndent AuditOTS
that includes OUT opinion. Reasonable assurance is a high level of assurnn¢e, but is not a guarantee that Hn
audit conducted in accordance with ISAS (UK) will always detect a material misstatment whcn it exists.
Misstatements can arise from fraud or error and are considered material if, individually OT in the aggrega
they could reasonably be expected to infiuence th¢ ¢conomi¢ d￿lSIOnS of ￿e[S tak¢ll on the basis of these
fmaDcial statements.
The extenl to which our procedures are capable of detecting irregularitse5, includin8 frdud is detailed below:
ADditOT'S approach to wesryillg the risks ofma¢eiial mis$¢alemeni dlle to irregulartties
We obtaiDed undcTStanding of the legal and regulatory frameworks that are applicable to the entity. Those
that have a dircct impact include: FRS 102. Co-operative & Community Benefit S￿lette$ Act 2014.
Regulation of Care (Scotland) Act 2001 and Health & Srtia] CaTe Standards. Those that have an indirect
impact includc: employment matt￿1 h¢alth aDd safety Tegulations, and data Protection laws. We then
considered the extent to which non-￿MPlian¢c might have a material effect on the financial statements.
We assessed the risk of material misstatement in respect of fraud and made enquiries of managcmcnt as to
th¢ ¢xist¢nce of, or any evidence of. actual or suspected instances of fraud. Based on the auditing standards
wc addressed two fraud risks that were relevant to our audiL in relation to rev¢DU¢ rccognition aud
management override of controls.
Audit proeedures de8igoed to respond to ibe risk of DOn￿omplIance with l•ws regulaÉion8
Bas¢d on the results of our risk assessment w¢ d¢sign¢d audit procedures to identify non-compliance with
such law5 and regulations ideniifi¢d above. We made ¢nquiri¢s of management and those chargcd with
governance as to any llon-cotnpliancc and ￿￿0￿)ratCd r¢sFKJn5¢5 giv¢D by requesting coDfJrn￿tIOn from
client's legal cour￿1 of any outstanding legal matters, obtained inspection r¢w)rts from relevant 3rd parties
and revi¢w¢d the board minutcs for evidence of any undisclosed llLatt¢rs.
Compliance with the requirements of th¢ ac¢ountlD8 Standards and Charity law in tern￿ of thc forni and
content of the accounts was ensured using disclosure checklists and through vouching of disclosures to
supporting documentation.
Audil procedures d￿lEned to respond to the risk of frayd
In response lo the risk of fraud through managemeDt override. we incorporated testing of manual journal
entries into our audit approach. In order to address the TjSk of fraud in rclation to recognition of revenue we
UDdertook substantive lesting of Tevenues earned in relation to a sample of residents by agreeing the amounts
prescribcd in care agreements to th¢ amouDts recorded ID th¢ I¢d￿r and received. either through I(￿1
councils or s¢If-funding. We a150 Tcvicwed the verdcity of grant rcccipts TecoTded with ref¢r¢nce to grdnt
award l¢tter5 and sitnilar 3rd paty documents.
Considerations arnvnd ]ik¢Jibood ofdetection
There are inberent diificulties in the audit PTocess described above to detect the cxistence of irregularities.
We have mitigated these limitations by assessing the adequacy of the company's internal controls including
the existence of appropriate segregation of duties and by the naturE timing and extent of thc audit
proceduTes Involvc￿ by intr(NJucing att elejnellt of unpredic(2bility iry our sampling and testing.
A further description of our resp)nsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at www.frc.0rg.uklaudit0￿reSponSlbllities. This description foTms
part of our Report of the Independent Auditors.

Report of the llldependent Auditors to th¢ Trwstees and Members of
David Clrgill House
Use of our report
This rep)rt is made solely to the charitable companls members as a body. in accordance with Chapter 3 of
Part 16 of the Companies Act 2006, and to th¢ charitable coMpan￿S trusle¢4 as a EM)dy, in ac¢ordance with
Regulation 10 of the chariti￿ Acci)unts (Scotl8J]d) Regulations 2006. Our audit work has be¢n undcrtaken
so that we might state to the charitsble compangs members and the trustees those rnattcrs wc aTC Tequii¢d io
state to them Rn an audiiors, rewrt and for no other pwpoge. To tbe fullcst exteDi pern]itted by law, we do not
accept or assume responsibility to anyone other than the chaTitable company and the charitsble company's
members as a body. for our audit worL for this repoTL or for the opinions we have fom)ed.
oran
tevenson
Chartered ACCOL￿ÈaDts
Statutory Auditor
Eligible to act as an a￿lItOr in tenns of Section 1212 of the Companies Act 2006
25 Sandyford Place
Glasgow
3TNG
on
5 Septcmber 2025
Page 9

David Cargill House
Ststement of Financial A¢tiYities
for the Year Ended 31 December 2024
31.12.24
Totsi
fw)ds
31.12.23
Total
fund5
funds
fiJnd5
Notes
INCOME AND ENDOWMENfs FROM
DoJ)ations and legacies
14,678
60.996
75,674
69,895
Charithble attiviti
Residenvs fees
2.113.185
2,113,185
1.925.643
Investment incom¢
3.735
3,735
4.732
Totsl
2.131.598
60,996
2.192,594
2,000,270
EXPENDITURE ON
Charttxble activiti
Care Home Services
2,137.282
32,766
2.170.048
2259,447
ET INCOMFJIEXPEIYDITURE)
Other reeogDi8ed gain81(1055es)
Gains on rcvaluation of r￿ed &ss¢ts
(5,684)
28,230
22,546
(259,177)
312,000
Nel movemenl ID fuDds
{5.684)
28230
22,546
52,823
RECONCILIATION OF FiINDS
Total funds brought forward
(215.822)
1.518.670
1,302,848
1,250.025
TOTAL FUNDS CARRtED FORWAIiD
(221.506) 1,546.900
1.325,394
1,302,848
The notes forni part of these financial statements
Page lo

David CaTgill House (Registered number. 1294RS)
Statement of Financial PositioD
31 December 2024
31.12.24
Total
funds
31.12.23
Total
fimds
Unrestricted Restricted
funds
funds
Not&s
FIXED ASSETS
Tangibl¢ a5SCt5
13
421.043
1.496218
1,917,261
1.939.761
CURRENT ASSETS
Stocks
tkbtors
C&sh at bank and in hand
14
15
7.480
134,742
31J4269
7.480
134.742
354,951
5.450
55,424
372.286
50,682
446.491
50.682
497.173
433,160
CREDffORS
Amounts falling due within one year
16
(281.919)
{281.919) (258,874)
NET CURRELYT A&SETS
164.572
50.682
215.254
174,286
TOTAL ASSETS LESS CUIUi
585.615
1.546.900
2.132.515
2.114,047
CREDITORS
Amounts falling due after more thaD one
17
(812.610)
(812,610) (812.610)
PENSION A&SET
21
5.489
5.489
NET ASSETS
(221.506) 1.546,900
lJ25,394
1.302,848
The SK)tss forni part of these financial statements
Pagell
continued...

David Cargill Hollse
Stalen￿￿1 ofFIDwi￿ Poiitioll- tontiDued
31 D￿eMber 2024
Unrestricted funds
Restricted fimds
(221.506) (215,822)
1.546,900
1.518.670
TOTAL FUNDS
1.325J94
1,302,848
The fmancial Statements were apwoval by the Board of TnLtte5 and authorised for issue on
5 Sept¢mb¢r 2025 and were signed on its behalf by.
The notss form part of financial statements
Page 12

David Cargill House
StatemeDt of C*sh Flows
for the Year Ended 311)ffember 2024
31.12.24
31.12.23
Notes
Cash floivs from operating adiyities
Cash gcncrated from operations
(16.951)
(68.575)
Net cash used in opernting activities
(16,951)
(68.575)
C￿h flows from inV￿ting activiti
Pension payments
Interest ￿e1Ved
(4.119)
3,735
(3.324)
4.732
Net cash (used inyprovided by inv¢sting activitie5
{384)
1,408
Change in cash and cgsh equivalents
ill tbe reportltsg perlod
Casb aDd Cash equivalents at the
beginning of the reporting period
(17,335)
(67.167)
372286
439,453
C¥sh and cash equivalellts at the end
of the retKtyrtikng peri(Ml
354.951
372,286
Thc notes forn) part of these financial statements
Page 13

David Cargill House
Y4otes to the Statement of Casb Fl(nvs
ror the Year Ended 31 December 2024
RECONCILIATION OF NET Jf4COMEJ(EXPKNDrruRE) TO NET CASH FLOW FROM
OPERATING ACTIVITIES
31.12.24
31.12.23
Net incomej(￿pendlllure) lor the reporting period (as per the
Sthtemeknt of FinalleiAI Activities)
AdjusÉmellts for:
Depreciation charge5
Interest received
Pension adjustm¢nts
(Incrcaseydecrease in stocks
(IncTcasCydecr￿e in debtor5
Increase ill creditors
22,546
(259.177)
22.500
(3.735)
41
(2,030)
(79.318)
23.045
22,470
(4,732)
78
2,451
48,891
121,444
Net used 14 operations
{16,951)
(68,575)
ANALYSIS OF CHANGES IN NET DEwr
At 1.1.24
C&8h flow
At31.12.24
Net Cash
Cash at bajth and in haDd
372.286
(17.335)
354.951
372286
(17,335)
354,951
Debt
Debts falling due after l year
{812.610)
(812,610)
{812.610)
(812.610)
Total
{440J24)
(17.335) (457,659)
The notes forni part of these financial statements
Page 14

David Cargill House
Notes to the Fillats¢ial Stslements
for the Y¢r4r Ended 31 Deeember 21124
GENERAL INFORMATION
David Cargill House is a company limited by share4 incorporated in the UK and Tegistered in
Scotland. comparty re8iskntion number 1294RS. It is also a registered charity with the Office of the
Scottish Charity Regulator (OSCR). charity registration number SC018250. The registered oifice is
shown in the Reference and AdminislTative Details. David car￿ll House's principal a¢tiviti¢s and the
nature of its operati¢)DS are o￿lIned ill the Management committ￿'S rwrt.
ACCOUNTIIYG POIJCIKS
Bgsis of preparing the financial statements
The financial statements of th¢ Charitable ￿mpanY. which is & public benefit entity under FRS 102,
have been prepared ID accordancc with thc Clwitics SORP (FRS 102) 'A￿UntIng and Reportlng by
Charities: Statement of Recotnmended PTactice applicablc to clwities pffparing their accounts in
a¢¢ordan¢¢ with th¢ Financial Reporting Standard applicable in thc UK and Republic of Ireland (FRS
102) (effective l January 2019),. Financial Reporting Stsndard 102 The Finallcial Reporting Stsndard
applicable in the UK and Republic of Ireland,, the Companies Act 2006. and the Co-operative and
CollllnuDity Benefit S￿l¢lles Act 2014. The fmancial statements have been prepared under the
historical cost ￿nVentiOn. as modified by the revaluation of ccrtaiD assets.
Going ConeeTn
The ¢haTity rcported a surplus of £22.546 during th¢ yw with overall reserves increasing to
£1,325,394. R¢stricted reserves are £1.546,900 and unrestricted reserves are (£221,506A Icaving th¢
organi5ation in a relatively weak financial p)sition. At the balance sheet dat¢. th¢ Charity had amounts
owed to The David William Trdill Car8ill Fund (The DWT Cargill Fund) of £812,610 (2023
£812,610) in respect of loans advanceit The Management Committee is confident the charity will
r¢c¢ive this continued financial supporL
The Management Committee also Ixlieves that the Scottish Government will undoubtedly re44uire to
maintain fmancial support given to the voluniary sector to ensure that this essential provision is
maintained in the futUTe. Thc Trustees are therefore 5atisfid, dc5Pitc the Challenging conditions, that
the charity adequate resources to continue in op¢raiionai existence for thc forcseeable future and
have prepared the financial statements on a going concern ba515. The financial statements do not
includc any adjustments that would Tesult should the suP￿rt hA8hltghted be withdrawn.
Critical atcounting judgemeDts aDd key sources of ¢stima¢ion uncertainty
Estimates and judgements are ¢x)TJtinvally evaluated and are based on histori￿1 experience and other
factors. ill¢ludiug expectslion5 of future events that ar¢ kli¢v¢d ts) be rea50Dable undcr thc
circumstances. As the chority makes estimates and assuJJ)ptions ¢on¢¢rning th¢ fvtyre. the resulting
accounting estimates and &ssumptioos may. by dermitio￿ vary from the actual results. Th¢ cstimates
and arcas of judgm¢nls that have a significant risk of causing a material adjustment to the carrying
amounts of &ssets and liabilAti¢s are discu5scd klow:
Pension liability
The charity participates ill the Pensiott defined benefEts pension schetne. See Note 21 for further
inforniation.
D¢precialion
The estimates and assumptions made kn dq)ffciation rntes requiTes judgements to be mad¢ as regards
uscful lives and residual value5. The useful lives and residual vaIu¢s of th¢ charitys fjxed assets are
detern]ined by management at the time the &wt is acquired and reviewed annually.
Page 15
continued...

David Cargill House
No¢es to ¢he FiDaD¢ial Stalements - continued
for the Year Ended 31 December 2024
AccoiINfING POLICIFS- CODtinued
Income
All Income is recognised in the Statement of FiDancia] Activities once the charity has cntitlemeDt to
the funds. it is probable that the Income will be tTceived and the amount can be m¢asured reliably.
Government grants
Govcrntncnt grallts relating to tangible fixed &ssets are tr￿¢d as deferred income and relcascd to the
Statement of Financial Activities (SOFA) over the expected useful lives of the assets concerned.
Oth¢r grants are credited to the SOFA as the related expenditure is incurred.
Expenditure
Liabilities are recognised 18 expenditure &$ s(KJn &$ there is a legal or constructive obligation
committing the charity ￿ that expenditure. it is probable that a transfer of economic benefits will be
rcquired in settl¢m¢DI and the amount of the obligation can be measurcd reliably. Expenditure is
accountcd for on an accruals b&sis and been cl&ssified under headings that aggregate all cost
related to the ¢at¢gory. Where costs callnot directly attributed to particular beadings they have
been allocated to activities on a basis consistent with the use of resources.
Tangible r￿ed assets
Tangible fixcd assets are initially recorded at cost and then subsequently measured at cost less
impairnient and cumulativc dcpTeciation. Depreciation is provided at the following annual rates in
order to write off each over its estimated useful life.
Heritsble property
Kitchen & l&undry equipm￿
Fixtures. fittings and equipment
Motor vehicles
1% On￿$¢
2￿/th oll rcducillg balan¢¢
2￿/ty on cost
21f/o on reducing balance
Siocks
StocK comprising household aDd ktt¢h¢n sto¢K is held at the lower of cost and estimated sellin8 price
less costs to complete and sell.
Taxation
Thc charity is exempt from corwration tsx on its charitable activities.
Fund accounting
General funds ar¢ u[￿¢stricted funds which are available for usc at th¢ discretion of thc Management
Comvnittcc in furtberance of th¢ g¢D¢ral objectiv¢s of the charity and which have not been d¢signated
for other PUTW)S¢S.
Dcsignated funds comprise unrestricted funds that have been set aside by the MaDagement Committee
for particular purposes. The aim and use of each designated fund is set out in the notes to the financial
statcmcnts.
Restricted funds arc funds which are to be used in accord￿ with spccific restrictions imposed by
donors or which bave been rdised by the charity for particular PUTP)ses. The costs of raisillg and
administering such fuud5 arc charged against the specific fill￿. The aim and use of each restricted
fund is Sct out in the notes to the financial statements.
Page 16
continued...

David Cargill House
No¢es to the FiDaD¢i81 StslemeDts- contillued
for Ihe Year Ended 31 l>eeember 2024
ACCOUIYTING POLICIES- Continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to
the charitabl¢ companys pension ￿h¢m¢ are ¢har8ed to the StatsJDcnt of Financial Activitics in the
period to which they relate.
The charitable company participates in the Pension Trust defined ￿nefIts schcme and retirement
benefits to employees of the Association are funded by the contributioDS from all participating
employers and employees in the scheme. Payments are made in accordance with periodic calculations
by qualified actuaries and are based on pension costs applic4blc across the various participating
OTganisations taken as a whole.
Th¢ ¢baritable wmpany accounts for amounts that it has a￿e¢d to pay towards the scheme deficit in
ac¢ordancc with paragraph 28.1 IA of FRS 102. The prescnt value of this liabi]ity has bccn recognised
An the Balancc Sheet. The discount Tat¢ applied to this obligation is that of a yield Tate for higb quality
corporate bonds.
DONATIONS AND LEGACIES
31.12.24
31.12.23
Donations
21,966
47,929
75,674
75,674
69.895
rants receive￿ included iti the a￿Ve, are as follows:
31.12.24
31.12.23
Dwf granls
National tA)llery gr8nts
55,674
20,000
47,929
75.674
47,929
INVISTMENT INCOME
31.12.24
31.12.23
Deposit account interest
3.735
4,732
Page 17
continued...

J)avid Carwll House
Notes to the Finan¢i*l Stskments- continued
for the Year Ended 31 December 2024
31.12.24
31.12.23
Activity
Residenvs fees
Residents, fees
2,113.185
1.925,643
CHARrrABLE AcfivTfIKs COSTS
Direct
Costs {sc
notc 7)
Support
costs (see
note 8)
Totsls
Care Home S¢rvi¢¢s
2.141.644
28.404
2.170,048
DIRECT COSTS OF CHARrrABLE AcrIvrriES
31.12.24
31.12.23
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundry expenses
Repairs and maintetwice
Molor exwises
Travelling
Food and driT
Cleaning materials
Staff training
Medical supplies
Residents activities
Subscriptiorjs
Pension interest charge
Staff ¢xpcn5C5
DepTeciation
1.593.305
40,124
28,189
60.211
3,699
2,468
8222
91.909
10.908
996
149.336
47.692
1.182
16.716
28,205
EO,616
41
25J25
22,500
1,575,726
27.953
31,026
158.821
5,754
3,966
5,708
116,646
11,084
719
130,200
48,277
5.346
31,776
18.877
10,634
78
23,686
22.470
2,141.644
2228.747
Page 18
continued...

David Cargill Hous¢
Noles to the Financial StaiemeDts- tontillued
for the Year Ended 31 December 2024
SUPPORT COSTS
Governance
¢osts
Care Home Services
28,404
INCOMEI(EXPENDfTuRE)
Net incom¢l(¢xpenditurc) is slated after chargin￿(cledltt￿g)'.
31.12.24
31.12.23
AuditOT remunerdtion
Deprcciation - owned ￿ets
10,380
22,500
9.090
22,470
10. TRUSTEES, REMUNERATION AND BENEFITS
There were no truste¢s' remuneration or other benefits for the year ended 31 December 2024 nor for
the year ended 31 DecembeT 2023.
Trnst¢es' expewes
Ther¢ wcrc no trustees, expenses paid for the year ended 31 D￿CEn￿r 2024 llor for the y¢ar ended
31 December 2023.
11. STAFF COSTS
31.12.24
31.12.23
Wages and salaries
Social %curity costs
Other pension costs
1.443.901
121.576
27.828
1.432.239
109,522
33.965
1.593.305
1,575,726
Th¢ average monthly number of employees during the year w&$ as follows:
31.12.24
31.12.23
Management staff
Care staff
63
68
69
No employe¢s received emoluments in excess of £60,000.
Th¢ total remuneration paid to key management personnel during the year was £234.642 (2023
£217.805)-
Page 19
continued...

David Cargill House
Notrs to the Financial Statements- CODtiDued
for tbe Ye4r EDded 31 Deetmber 2024
12. COMPARATIVES FOR THE STATEMENT OF FINAF4CIAL ACTtvrrtES
Unrestricted Rcstricted
funds
funds
Total
funds
IY4COME AND ENDOWMEiYfs FROM
Donation5 and legacie5
46,247
23.648
69,895
Charitable aclivities
Resident's fees
1.925,643
1,925,643
Snvestment income
4.732
4.732
Total
1,976,622
23.648
2,000,270
Charitable activities
Care Home Services
1220,532
38.915
2,259,447
YIET INCol￿￿/(EXPENDIT[lRE)
Other recoghised gainsI(lo￿es)
Gains on T¢valuation of fixed
(243910)
(15,267) {259.177)
148,524
163.476
312,000
Iyet movement in funds
(95,386)
148.209
52,823
RECONCItJATION OF FUNDS
Total funds brought forward
(120,436)
IJ70.461
1,250,025
TOTAL FUNDS CAJUUED
FORWARD
(215.822)
1,518,670
1,302,848
Page 20
continued...

David Caryill House
Notes to the Financial Statements- ¢ontinwed
ror tke Year Ended 31 December 2024
13. TANGIB￿ FIXED KSSETS
Fixture
fittings
Kitchen &
laundry
equipment
Heritable
property
Motor
vehicles
equipment
Totsls
COST OR VALUATION
At l January 2024 and
31 December 2024
1.950.0(K)
5.845
13,087
25.438
1,994,370
DEPRECIATION
At l January 2024
Charge for year
19.500
19.500
5217
120
5236
2,616
24.656
264
54.609
22.500
At 31 December 2024
39.000
5,337
7,852
24.920
77,109
BOOK VALUE
At 31 December 2024
1.911.000
508
5235
518
1.917.261
At 31 December 2023
1.930.500
628
7,851
782
1.939,761
Cost or valuation at 3 1 Decembu 2024 is T￿resented by:
Fixture&
fittillgs
Kitchen &
laundry
equipment
Heritable
prop
Motor
vehiclcs
uipment
Totals
Valuation in 2015
Valuation iti 2024
Cost
1.409,309
150.000
390.691
1.409.309
150,000
435.061
5.845
13,087
25.438
1.950.000
5.845
13.087
25.438
1.994.370
If freehold prowty had not t*en revalued it would have been included at the followlng historical
¢05t:
31.12.24
31.12.23
Cost
390,691
390.691
Aggregate depreciation
123.780
119.873
Freehold property was valud on an open maTket b&sis on 26 March 2024 by Shepherd Chartered
SurveyoTS.
The Tn￿teeS are ofthe opinion that the fair value of the Heritable ProiKTty is not matsrially different
from the carrying value in the fitw]¢ial slatanents.
Page21
continued...

David Caryill House
Notes to the Fillancial Statemellts- ￿nI1￿Med
for ¢he Year Eoded 31 De¢ember 2024
14. STOCKS
31.12.24
31.12.23
Kitcben and household stock
7,480
5.450
15. DEFfoRS: AMOUWIS FALLING DUE WTtHll¥ ONE YEAR
31.12.24
31.12.23
Trade debtors
Other debtOTS
Prepayments and accrued income
117J43
14,678
1721
41,629
9.181
4,614
134,742
55,424
A6. CREDrroRS: AMOUNTS FALIJNG DUE wrrHtN ONE YEAR
31.12.24
31.12.23
Trade creditor5
Social security and other tsxes
Other creditors
Ac¢ruals deferred income
40,592
35.029
22.711
183.587
51,025
28,160
47,830
131,859
281.919
258.874
17. CREDrroRS: AMOUNTS FALIJNG DUE AFfER MORE THAN ONE YEAR
31.12.24
31.12.23
Other loans (s¢¢ note 18)
812.610
812,610
18. LOANS
An analysis of the maturity of loan5 is given below:
31.12.24
31.12.23
Amounts falling between one and two years:
LoatL from David William Ttaill Cargill Fund
812.610
812,610
Part of th¢ loan from DVIT CaTgill Fund beaTS interest at 51/10 per annum and is secured by a st2ndard
security over the Heritable Property and is repayable after 12 months on demand. The remaining
interest was waived by the TnLSte￿.
Pagc 22
continucd...

David Cgrgill House
Notes ¢0 Ihe FiDODci41 Stst¢ments- contillueAI
for the Year Ended 31 December 2024
19. LEASING AGREEMENTS
Minimum le&se payTnents UDd¢r rK)n-cancellable operating leases faIl due as follows..
31.12.24
31.12.23
Between one and five years
79,637
104.049
20. MOVEMEN[ IN FUNDS
Net
movement
in funds
At
31.12.24
At 1.1.24
Unrestricted funds
General fund
Sharc capital fund
(215,829)
(5,684) (221,513)
(215,822)
{5,684) (221,506)
Re5tricied funds
Capital fiind
Propcrty upkeep fund
inibus fund
1,511,484
7.186
(15,266)
23,496
20.000
1,496,218
30.682
20.000
1,518,670
28230
1.546,900
TOTAL FUNDS
I J02.848
22.546
1.325.394
Net movement in funds illcluded ID the above are &s follows:
Incoming Rc50urces Movement
ur(xs expended
in funds
Unrtstricted fllnds
General fimd
2,131.598 (2.137282)
(5,684)
R￿tricted fnDds
Capital fund
Property upkccp fund
Minibus fund
Staff welfare fund
(15266)
{15.266)
23,496
20,000
23.496
20.000
17.500
(17.5(Kl)
60.996
(31766)
28.230
TOTAL FUNDS
1192,594 (2.170.048)
22,546
Page 23
continued...

David Cargill House
Notes to th¢ Financigl StatsmeDts- colltiDued
for the Year Ended 31 December 2024
20. MOVEMENI IN FUNDS. continued
Compzdratives for movemenl in funds
Net
movement
in funds
At
31.12.23
At 1.1.23
UDrestrieted funds
General fund
Share capital fund
(120,443)
(95.386) (215,829)
(120.436)
(95,386) (215.822)
Restricted funds
Capitsl fund
Pmperty upkeep fiuMI
1363.275
7.186
148.209
1,511.484
7,186
IJ70,461
148,209
1.518,670
TOTAL FUNDS
1.250.025
52.823
1,302.848
Comparative net movement in fim(L% included in the above are as follows:
Incoming
Resources Gains and Mov¢ment
Tcsourccs expended
losses
in funds
Unrestricted funds
General fund
1.976.622 (2220.532)
148,524
(95.386)
Restricted funds
Capital fund
Property upkeep fund
{15.267)
(23.648)
163.476
148.209
23.648
23.648
(38.915)
163,476
148.209
TOTAL FUNDS
1000270 {2259.447)
312,000
52.823
The restricted capilal fund represents the reserves tied up with the property from which the charity
operates. The restricted property upkeep fimd is to be used only for enhancement of the fabric of the
property. The restricted minibus fijnd is to be used only for the purchase of a new vehicle. The
r¢strict¢d staff welfare fund is to be used only for staff voucbers.
Page 24
continu¢d...

David Cargill House
Notes to the Financial Statements- continued
for ihe Year Ended 31 Dttember 2(ll4
21. EMPLOYEE BENEF￿ OBLIGATIONS
The charity partlcipates in The Pension Trust ￿h¢M¢. a multi-employer scheme which PTovides
benefits to some 521 non-associated parttcipating employers. The scbcmc is a defmed benefit schem¢
in the UK. It is not possible for the charity to obtain su￿]Cient inforniation to enable it to a￿ount for
thc scheme as a defined benefit scherne. Th¢r¢for¢ it accounts for the scheme as a dcfined
contribution scheme.
The 5ch¢m¢ is subject to the funding le8islation outline in the Pensions Act 2004. which came into
force on 30 December 2005. This. together with documents issued by the Pensions Regulator and
Technical Actuarial Standards issued by the Financial Rew)rting Council. set out the framework for
funding defined benefit occupational ￿nsiOn Schemes in the UK.
The scheme is classified a5 a "1&sÉ-man stsndin8 arrdn8ement'. Therefore the charity is w)tentially
liable for other participating ernploycr5' obligations if those employers arc unable to meet their share
of the scheme deficit following withdrawal from the scheme. Participating employ¢rs are Icgally
required to meet their share of the scheme deficit on any annuity pU￿has¢ on withdrawal from thc
scheme. Pcr the ]xnsion provider, David Cargill House's convcrsion to a SCIO has not trigger￿ any
debt on withdrawal.
A full actuarial valuation for the scheme was caTried out at 30 Septemkn 2023. This valuation
showcd assets of £514.9m, liabilities of £531.Om and a deficit of £16. Im. To eliminate thi5 funding
shorttall, th¢ Trustee ha5 asked the participating employeTS lo pay ￿ditIonal contributions to the
scheme os follows..
Deficit ¢ontributioDs: From l April 2025 to 31 March 2028: £2,100.000 per annum {p&yable
monthly). Unless a Con￿&510￿ has b¢¢n 8￿Ced WAth the Tntstee the t¢rn) to 31 March 2028 applies.
The sch¢￿e.S previous valuation was ca￿led out with effective date of 30 September 2020. This
valualion showed a&%ets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this
funding shortfall. th¢ Trustee bas asked the participating employers to pay additional contributions to
the ￿heme as follows: Deficit contribution5.' Fr¥)m l April 2022 to 31 January 2025: £3,312.000 peT
amium (paid monthly).
The recovery plan contributions are alliJcat¢d to each participating ¢JnployeT in line with their
estimated sharc of the Seri¢5 1 and Series 2 scheme liabilities. Where the scheme is in deficit and
where the company has agrccd to a deficit funding arrang¢m¢nt th¢ company recognises a liability for
this obligation. The amount r¢¢ognised is the net present value of the deficit reduction contributions
payable undcr the agreement that relatcs to thc deficit. The prescnt valuc is calculated using the
discount rate of 4.840/0. The unwinding of the discount rate is recognised as a finance cost.
2024
2023
Provision at start of period
Unwinding of the discount f￿tOr (interest expense)
Deficit contribution paid
(1,411)
41
(4.119)
1,835
78
(3.324)
ProvisioD st eDd of period
(5.489)
(1.411)
Page 25
continued...

David Cargill House
Notes to the Financial St%tements- continued
for the Y¢2r Ende4131 Dffember 2024
22. RELATED PARTY DISCLOSURES
At the year4nd the balance owed to Dwf Cargill Fund was £812,610 (2023 - £812,610). Interest on
thi5 loan was waived in both the current and previous year. The ¢barity received 8rants from DWT
Cargill Fund of £55.674. N FyfE one of the Trustres in David Cargill House w&% also a trustee in th¢
DWT Cargill Fund. Residenvs fees of £16.056 were paid by Trustees, in the year.
POST BALANCE SHEET EVENTS
David Cargill House bas been converted into a Scottish Clwitable Incoryornted Organisation (SCIO)
from 30 May 2025. The organisation is no longer an Industrial and Provident Society from thi5 date
and now has charitable status under the Charities aDd TTU$￿ Inve51ment (Scotland) Act 2005.
Pag¢ 26