Chanty rojlstratN￿ nunkn: SC018797 Jimmie Cairncross Charitable Trust Ann￿1 Re[￿rt arnj FthThial stslen￿nts for Year E[K￿l 31 t*emiEr 2024 Jimmie CairncTOSS Charitable Trust Contents R￿￿eT￿e a￿1 Administrative t*tis Tnjstees, ReF(*t 2to5 Examlnerfs Rer Statemert of Fina￿la1 knibe5 Ba￿l￿e sI￿t Notes to the ￿narThI Ststemerts 9t018 Jimmie Cairncross Charitable Trust Ref￿en￿ and Administrative Details Principal 01 Charity Regirtrntitin Number SC018797 SolicitOTS w1ltefr￿rS House 7 Wtritefriars PERTH PH2 OPA Morri5 & YouThJ CharteFad Acmurtants 6 Att￿￿ Cresca PERTH PHI 5JN Jimmie Cairncross Charltable Trust Trustees, Report The tnstees p￿lt the annual repyt togthr wilh the fina￿￿ of the d*rfy for the year el￿131 D&emtrw 2024. Objectsandain The p¥)1￿leS adoptal In ftrthera￿e of O￿t￿ts are to Invote appl*ati)ns for fiJThdiTrJ grants which the truste￿ will revknT agai￿ criteria. Achiebwnerts and perfornianc• TrE Tnst was very act(ve In 2024 aNI l*bJ m*ir¥J5 durir¥J ￿ )tar naft￿. 13 Februaryi 16 April. 22 Juty and 29 1kn1w. N6wttatiorts for the waygoir¥J of the h)ThJ-stsTrJir¥J tenants of the sh)p In St John Stre¢ Perth contsnwl durirg the year and 0)￿lUS￿)n i5 swn. 1m￿rtan￿Y. tenants conts.nued tr> pay the rent timeoLLsty so that k)ss of Ir￿Me was su*aiwl duriThJ the year. HOy￿er. Tnsys Incclne stream ill IE 3ffttt￿l orKe a final thal 6 with the t￿irts aTrJ thts WNI hive to ￿ reftecteA in the ￿et of future thnatw)tB. Trust s website cortEnus to a ttselul for ￿ FYonTh)tbn of the Tnst and has eas&1 applKation pmcess. Trust continu&J to suky)rt a wvje la￿ cl organi5abors a￿1 irthlknb, Main￿ with Pesth aTh KInTh￿ conrtttiors, refl&tiThJ the of the late Mr Cairrtw. In the nNain, thtse were local charitable instliullots, org*niAtw)Tr5. atKI 1Th]iv￿￿9￿, es￿Ialty youThJ wple, inclLx1i￿J those assock8￿ with educab"on, musk. Arts arKI SFQrt. 9Jpwrt continu&l for the Arts with tkMatw)ns to Perth Festtval of the Arts for their 2025 Festival, Pithxtiry FestNal Theatre, BLairgowrie Pipe Bar¥l, National Youth Orchestras of *ottand, Perthshire Brass, What Moves You CIC, NatKJrk41 Youth Orchestras of Scotland, National Youth c￿1r of Culture P&K RSNO. YouTrJ w￿e supw)rted with donations to 1st CrEff Guije Unit. Fairview Sctrml Pa￿tt Ass((iatnn, Broke Not Bmken, SSC A Club for Youth of Scothnd. Earty Years ￿otIaThJ, Alyth Youth Partr￿h&pI 22nd PatEshi￿ knuts, a￿1 H63hlarK15 Tsfants Students. Assc￿lat￿ln. Tr Tr￿t aLso COrkn"n￿ to SUFWrt y1)￿￿ Invo￿￿￿ with ProJ￿t Trust and similar organisatK)ns t￿ with e￿cept￿nal talent in the ￿rtI￿rKe of trEir uluc*ion. also SUP￿Irt￿ hxal community pro)￿￿. I￿1￿1n9 Blairgowr* arKI Rattray Deveh)pment Tiust, Take a Pr￿ in Perths￿"￿. Comf* Millenium Fcoty)ath AS$￿￿at1)n arKI St Fillars in Bknm. Tlw continwl to SuP￿rt d6adVanta￿ wple with donatK)rÉ to PKAVS aThJ VsK)n K Other maitir I￿1p￿ts i￿lud￿j tjjnbarry & For￿rKIenftY ParLsh chu￿ Perth Isos￿1 a￿1 Tayside and Strad%am Help for Ukraine. Dor0￿r6 for swyt i￿1￿J￿j T￿n6 Club, Tay RowiTrJ Club and a ta￿nt￿ 1ndN1dL￿1 lrNolv￿ In tenni5. Tru5Vs kJ)rttolv) contin￿5 to be eff￿tivety by Tknrnt￿ We31th. DutMJee aTrJ ttE Income from it, o)mbin&l wTrth the rent hDm Kmntly 0￿￿1 sF¥)p, alk1W￿ the Tn& in 2024 to contlnue to LEnefit marry kKal oryanwAtio￿ in the Perth & area. ￿bi￿t to the caveat alxyut the anticipat￿ reducti)n in irKorr£ 0￿e tte i5 rebjrnj to ￿ ￿?￿k)rds. Purp￿ of the Tntst will continue as hitherto. Jimmie Cairncross Charitable Trust Tru5tees' Report Financial review whik the tnJsi deay pernitt5 the payirKJ of (a&Ntal, trustees ha￿ taka) the view that the Investsnents sh)Lld to pro¢kne ir￿Orr￿, wlyh in tum slK)ukJ te to make C￿ritab￿ fKJn.refurn1abk grants. The income has, ￿•r(th￿￿, ￿ taken into the unre5trthJ fund. Grants of £89,321 have te￿ made dunng the with mart)Je￿nt exrenses of Ell,535. Tr balan￿ of unre5trited fuTrl5 at 31 D￿effli￿r 2024 anKJwts to E103,340. The balan￿ of de5MJf￿te￿ fvnds at 31 DeLemtr*r 2024 aft￿unts to £118,379. The balaTKe of eIKknn￿ fuKls at 31 D￿mter 2024 amounts to £1,455,192. It 15 the of the d*rity ttb)t unrtstrKtal fmts whth have not be￿ tsvJnated for a 5￿ffiC use shoukj be mairtrairEd at a thl ￿U1¥a￿Trt to at teast Lthe￿ three a￿1 SLX mnth's ex￿diture. The tristees cO￿r rese￿￿ at ths will en5UtE t1¥3¢ in the e¥ent of a 5￿jn￿kaftt drop in ￿Th￿In will LE ab￿ to conbnue the charity% current ￿tivIt*S Whi￿ cor6ttkn￿on is gNen to ways In which athjthrfjl funds may te rawl. This I￿1 of ￿yeS has been maintsined thro￿11?￿t the [￿. Plans for future ￿lOdS Tn￿ w511 continue to give suptK)rt in pursuartt tt￿ri￿t* pur￿. TtU5t was slablLshed by a chartsbte tr￿t Lknl wi5ter8J on 19 FebrI￿ry 1991. The Trust's objects are to make payrwts out of tlE ir(orrt or capital of ￿ Tntst for the tfftfft of charitatAe organi5atlon or indiga)t ￿r$0[5 or for s￿h chgritsile In con￿¥)￿ with ￿l￿tiOn, MUSK or the arts. Trust￿ have been app)inted by deed of app)intmert or can be apwJintaJ ty current trust￿. tn the ent of a tnstee retiri￿ sultsble ￿lac￿￿ts a￿ duty a)rfjKk￿I b) an app)intsnert tEing eKisknro trtstee5 will provKle prrtsrth and n&¥ IT￿tee$ wtth InfomMtN)n on the Tnst arKI an Ind￿atIOn brief upon tha"r duti￿ as a truts. Jimmle Cairn(yoss Charitable Trust Trustees, Report The day.tO-thy administrdlx)n carrlafj out T1￿￿n5 Law LLP. as apits for TrusL The trLStees meet as and when r84ulr8I b) rel1￿ all asp&ts of the Trusys affairs. re are no ￿t￿tk)n$ ￿ the Trl￿￿5 p)wtr lo in¥tst. The inve5tmart Strate￿ is sd ￿ the trust tsknng inb) accomt of T￿t derna￿j for fuThts aThJ Ir￿est￿￿￿t Athi50r's views of the st(￿k market. tnAstees have assessed the mafrjr rsks to whth the T￿￿ Is ex[*￿1, in particular t￿ rdated to the operatK*ns aNI finawKe5 of the Tntst. aThJ are Satsr￿j that Wenis are in ￿lace to Tnrtkjate &Kposure to rLsks. Financial instrwntnts charws aCttY￿ eXF￿ it to a n(•ntsr of finamial rsk5 irKI￿lIrwJ crejjit cash Iksw rtsk arvj IkiuKJity ￿k. are c()￿(￿ rA ￿ aim to rdain cash re￿rCeS to the imm8Jote y84urem￿ts of the trL Credi'tnsk trusvs pri￿1paI assets are Investff￿ afKI Its bank bala￿& tr￿ has rn sKJiifirAnt cort&KrdtK)n of crejrt rtsk. Llquidity In on*r to nkiintaln Fkwkjty to ensure that svffK￿t furmls are avaikble for ongoing operatKtns aThJ future d￿oprrents. the tnLSt's IKIUKI fu￿15 aR ke0 in a combi￿￿tKIn of bank ￿co￿ts to enable it to Serv￿ lis e¥ery(ky fIna￿k￿l n*ts. Jin¥nie Cairncrots Chaitable Trust Statement of Trustees. Re5pgnsibilities The trustees a￿ reSpOr￿Ible for Fwatrirbj the Tn￿ee5. knual Rewt and financial 5tstements in accordan=e with the L'nited ￿ngth)m Acccunbng &3rklards (Unsted ￿"ng10Th Generally Actepted ACC￿nt￿g PTrcts.￿) and law and r8Jubil(￿& The law applicable to charities requires the to tyepare finar(ial Ststetll￿ts each finarcial year whith give a tr￿ tsir v*w of the state of aftaits of tharity and the *icoming regwrce5 and applLab"on of resom (f thÈ frr that In ￿@par￿g thoE# fironoal statements,the tntstees are required to.. • 5elettsurtaNe accourtin9 and tkn appty thqn Ccrfwtenu￿1 obsetie the mdhols and F¥inopl¢s in the Charities 5011P.. make judgeFner.ts anc e5Vfflates that are ￿sOnable and pru¢knt: state whether appb'cable acctMJntJng ¥B￿rdS have been foJb)waJ, 5ubJ'g1 to any matertral departures dixlwA and explalned in fin￿C￿lI statements. aThl p￿Pa￿ the fi￿n￿al staten*rbts cm the grAng corctm b356 Lmle55 t is inapprowiate to Ihat the (hanty will conts.nue in ￿￿neS The trustee5 are rewnsibte for keewg acrow)ting rec(￿ th* disdose with rea￿nable accuracy 3t any tt.me the fina￿131 of the thanty and ￿￿ble them to ensure that the finarcial ststements compty with the ￿arit￿5 and Tnjstee In¥estm&it (Smtland) kt 20C6. the Ctsrilies Accounts {ScoVandj RegLllation$ 2006 (as am￿ded) and the prow90ns (* the FnJ5t Ewl. The trustees a￿ abo respon5ibÈ for safe9uarding the as￿ of the tharty art hence fty tsh.rg rea￿rob￿ steps for the preveniion and detection of fraud and other irydarii pproved by the ts￿Stee5 of Ihe d￿r[ty 9 Stymter 2025 and 9gnd (n ts behalf by: Trustee Page 5 Jimmie Caimcross Charitable Tn Independent Examiner's Report to the trustees of Jimmie Cairncross Cl￿ritable TnLSt I report on the of the cTrkirity fvr the year ￿thI31 D￿eM￿tr 2024 whth are set out on pages 7tol8. Respectlve ￿SPonsIbl[￿S of trusteas and examin charitys trustees a￿ ￿pOrtsIble for the preparation of the accot4ts in ac£ordance with the ttrms of the CharitBS and Tnstee {kntland) Act 2(KlS and the C￿arities Accounts {kn￿al¥j) R￿ulationS 21x￿. The chanty's tr￿le￿$ cons*Yer that the requiranent of Regulation lOtIXal to (c} of the 2￿5 Accourts R8Julatbons thes rnt apply. It 1£ my ￿$[K)￿l￿11ty to examine the accoLnts as r￿Uir￿j s￿tion 44(1)(c) of the Att aThJ to stste Wheth￿ pattrular matiers have come to my attention. Ba$ls of independent examiner's report My examination was carrej out in &(￿rdar￿e wlth R8Jukt%)n 11 rf the c1writi￿ Accrmjnts (krtland) R8Julations 2006. An examlnatrsn includes a revwd of ￿ ￿cOun￿"n￿ kept by d￿rty arKI a com[MrL￿r of ttE accounts w&entaY wth ttrK)se Yecorcts. It atso itxlJJJes c(￿SKIer&tB)n of any Ln￿sUal Items or dlschjsures In the accounts, arvj S￿ng explanallons Irom Sou as tn[St￿ c(HKemmg ary s￿h matten%. The pr¥xsJures undertaken th) r¥)t all e4Kletre that ¥￿uld te Tequlrvj in an auJl¢ arKI corwlentty i do not express an a￿lIt oi¥nion on the Yiew gilen lry the ax(xKts. In conn￿Dn wlth my examination, m matter has 1￿me to my attwttijn". (l)whKh gwe5 rne reAso￿b* (3Ltse to that In any mater]al the re]u￿nts". • to k¥ accountiro ￿rdS in xc0[dan￿ with Sedion 44(1){a) of the 2(fJ5 Act R8JulatK¥n 4 of the 2C06 Accounts Regulatr)rs; and • to prqjare arounts wh￿h ￿l￿d wbth the &c()￿tti￿j re£or& ￿ Cxjn￿ with R￿julatiOn 8 of the 2006 Accounts R￿u￿￿on5 have nct been n*; or (2lto whlch, In my DpINon. attertK)n stDukJ be dr￿ffl in order tr) thibk a LNK￿￿tarKIUYJ of the MvTris & Yuuivj Chartered Accourtants 6 AtIDII cr￿Cent PERTH PHI 5JN 9 Sa)tember 2025 PèF6 Jimmie Cairncross Charitable Trust ststement of Finanaal Activities for the Year Ended 31 Deomber 2024 Tatal Total 2023 Investment {r￿me 81.493 81,493 79.678 Expendltsre on: Raisiro funds Charitab attivibes (11.535) (11,535) (11.171) Total ExpeEKliture Gafir6ll￿eS on investment assets 107 878 (exp*rK1iture)lirKome Gross transfers bth￿n funds (17,636) 73,210 55,574 (99,756) Net I[￿1Vern￿￿ In funds 45,LWO (1.621) 12,115 55,574 {99,756) Recondl&)tlon of funds Totsl fvr¥As brought forward 1621337 1721093 Tc*al fut carried forward 14 1455 192 1676 911 1621337 All of the d)aritls thri¥e from tontiniir¥J okErati)ns durH¥J the alKY￿ tvffj ￿r1(￿jS. fund5 breakth)wn for 2023 is slK)wn in Th)te 14. Jirnmie Cairncross Charitable Trust (Registration number: 5C0187971 Balance Sheet as at 31 Deornber 2024 2024 2023 ixed assets Invethents io 1,575,192 1,498,381 Current assets DebtOTS Gi&1 at bank and in harml li 12 1.438 1.438 131 618 118,379 133.056 Creditors: An¥)unts falllng due wlthln one year 13 101719 122,956 Ilet assets 1676 911 1621337 Fund5 of the thartty: Endowment funds 1.455,192 1.443,077 Designated income fund5 Designated funos 118279 120.000 Unrestrirted irycorne funds LhwestrKted fvr%Js Total funds 14 1676 911 1.621337 The finanoal ststements on pag￿ 7 to 18 were approv￿1 by the trust¥ and authtrised for issue on 9 September 202& and ygned on thejr bthaf trw. TtU5tee °.age8 Jimmie CaimcTOSS Charitsble Trust Notes to the Financial Staten*nts for the Year Ended 31 December 2024 I ALrountiry policies financial ststements have been weparèj in ac£ordarte wilh Accountlr¥J aThJ RewrtirrfJ Iw charit￿5. ststement of Recomrne￿ prac￿ appltsble to chafft*s prep3rirrfJ their In accordance with the Fina[￿la1 Rq)ortw StaThJard ap[￿￿ble in the UK aThJ Republ￿ of IrdaThJ (FRS 102) (effthe I January 20191- (Charities ￿RP (FRS I02))(￿01¥Y edltN)n Cttottr 2019) arK1 the Charf(ies and Trustee Imiestsr*nt {thThJ) Act 21YJ5 a￿1 Charit*s knounts (ScotlaThl) ReJuIati¢X￿ 2006 (as an￿)ded). Basi5 of preparath)n financval statements a￿ in sterlir#J (£) and are n)uthl to the nearest £1. JlmfnÈ CalrrK¥oss charitab￿ T￿￿t meets ttE definrti)n of a publ￿ benefit enttty u]Mler FRS 102. Assets aTh1 ItabilitEs are inttialty reftsgn￿ej at cc6t or value unkn otlthise stated in the relevant aCcour￿.￿j Folty Going concern trustees cor6Kler that thwe aye Th) matelial U￿ertair￿s at￿￿t the charity's abilty kn c¢xrtinue as a ing concem. Invest￿￿nt i￿0￿* is acc(NJrtsJ for in the in wlith the d￿rity s e￿ to receipt. Expendrtu All expenditure L£ T￿n￿ed Or￿ there fis a 18Jal or con5trLLtwe obloatM)n to ttr¥yt exFthJiture. it is probable settlen*nt 15 wu1￿1 aThJ the anKMJnt can measured reliab￿. All crsts are al](th￿ to the applKabie expeThliture l*adiThJ that aggregate simitar costs to that cate9)ry. WIEre costs cannot be dir￿tty attritxj￿ to part￿u￿7T hea11r￿ ty trove been al￿￿£t￿ on a bas& cor6iStent with the use of resour￿, with central stsff costs allcKateJ on the b3sis of ti￿￿ 5Frt aThJ dep￿satiOn tharges allocated on the p)rtwN) of the a55eYs ￿. Other suFwt Costs a￿ alknabj b&ed on the spread of staff costs. Trse are cc6ts i[￿￿rr&I in attracttThJ vo[L￿trry irKonE, tre Mana￿￿rt of invthi&ts and those Incurr8J In tradiThJ attNrtE5 that rase furKIs. charitab￿ a(PtsKliture compr15e5 ttKtse cc6ts inJrrul try ￿ charlty ln tsnvery of n5 aCUvI￿es and Ser¥￿e5 for ten￿lar*s. It indth b)th cc6ts that can IE alkxatul to s￿h actNiknes and tIKtse cc6ts of an Indi￿ nature r*£tssary to supwjrt tkn). Jimmie Caimcross Charitable Trust Notes to the Financial Slatements for the Year Ended 31 December 2024 ProvisN)ns for grnnts are m* when Intenti￿ trj make a grant has teen communtited to the Ipia)t there uncertainty a￿)Ut eit￿r the timiThJ of the grdnt or the amunt of grart payable. Support costs Support costs irKI￿e ￿traI fL￿n$ a￿1 tten alkyatejj to cost cat￿￿ on a t*5iS consiqtent with of resources, for e%am*, alk(ats"r#J pYoMy costs by tknr areas, or rAp6ts. shiff cctsts by the bfrE spent and (ts costs Ly ￿. These Incllth the costs attributabk to charivs complia￿e with constitut￿nal arKI statutory ulrejnents, inclL¥Jir¥J aLKli¢ strabJK Matwg&7￿t arKI trLStee5' m￿jr￿> and ￿1MbUr5ej expa)se5. Investment proi*f LS carTiuJ at Pdif Yd1￿ from the current market for comparable real estate (knermin8J annualty by exttrThal valLÈts. The val￿S 0t6erVab￿ market prKes, adjust￿ if neC￿Sary for any {Jfferw￿e in the nabJr4 kKatK)n (K corKIth)n of the asset. Charkjes In falr value are in profft or kjss. Fix&1 asset irwe5tments, other than pr(yJramme related imitstr[￿, a￿ I￿1th1 at rrharket value at the bakin￿ sheet date. R&lGed gain5 arKI k65es on Ir￿es￿nts a￿ cakulated as the differ•￿ between sales prc￿eedS arKI their market Val￿ at tlE start of the year. or their subswuent cost, arNI are cha or £T￿lit￿l to the Slatement of ￿na[￿l Activitts in the of dispxisal. Unrealisay arKI k6ses repr￿ent the Th￿ver￿tt in market valiE5 durirg arKI are or charged to the Stat￿ent of FInal￿4)I AC1fr4itts on the market Val￿ at ￿ year ern1. Fund structure Unrestricted irKome fuThts a￿ gwal that a￿ available fDf use at ￿ trLStee5' di5crdcffl in Ithera￿e of the ObjectN￿ of the d*iity. DsvJnat&J income fuAts are tl¥J5e fiJrK15 set a5th ty the Tnstees to be for purposes. Page io Jimmie Cairncross Charitable TNst Notes to the Financial Statements for the Year Ended 31 December 2024 Financial instrwnwkts The charity 0￿Y has f1Th3￿la1 ￿Sets a￿1 1441mliti￿ of a kn"rx1 tts3t y￿11￿ qthillfy as basic fi￿ncial 1nstrur￿tts whKh are T￿(￿n1￿j at their tra[Wti(￿ wal￿ arKI sUt6wEntty rrEasur&l at theii settlement value. funds Total 2024 Total 2023 General Interest recwdble a￿1 simikir i￿oMe. Interest receivabk on bank dep￿rts Other irKome from ft'| |||**General**|**2024**|**General**|**2023**| ||**Note**|£|£|£|£| |Grant funding of activities|6|89,321|89,321|48,815|48,815| |Allocated support costs
Governance costs|5
5|3,500
6 308
a|3,500
6,308|3,500
3,500
8 070
8,070
OL|| |||99,129
—~~——=~~|99,129
——~~—S~~|60,385
—_—~~———SS~~|60,385
——~~\—=~~| ## **5 Analysis of governance and support costs** ## **Charitable activities expenditure** ||**Unrestricted**|||**Unrestricted**|**Unrestricted**|| |---|---|---|---|---|---|---| |||**Total**||||**Total**| ||**General**|**2024**||**General**||**2023**| ||**£**||**£**||**£**|**£**| |Honorarium|3~~,~~500
Se
~~=~~|—|3~~,~~500
~~a~~|——|3,500
~~=~~|3,500
—a SS| |**Governance costs**||||||| ||**Unrestricted**|||**Unrestricted**||| |||**Total**||||**Total**| ||**General**|**2024**||**General**||**2023**| ||£||**£**||**£**|£| |Independent examiner fees||||||| |Examination of the financial||||||| |statements
Legal fees
Other expenses|1,320
4 988||1,320
4,988||1,259
2,400
4 411|1,259
2,400
4 411| ||6,308||6,308||8 070|8 070| Page 12 Jimmie Cairncross Charitable Trust Notss to the Financial Statements for the Year Ended 31 December 2024 6 Grant-making Grants awarded In the year Grants to ind￿ld￿al$ 2024 2023 2024 2023 Grant fundiry of KbvilEs No trust￿, nor any pEYsors Con￿￿1￿j wilh them, have any rUn￿n￿a￿On from the tharty dUrI￿j year. No tr￿t*S have recdv&a any relmbuts&l e