Scottish charity number: SC020451 The Thom4s and Margaret Roddan Trust Trustees, report and receipts and payments aeeouDt for the year ended 31 October 2024
The Thomas and Margaret Roddan Trust Contents Page L¢gal and administrative infomiaiion Trustees report Independent examiners, report Receipts and paJThents ac¢ount Statement of balances Noies to the finan¢ial statcrnents
The Thon)as and Margaret Roddan Trust Legal and administrative infonnation Scottish charity number SC0204S I BusiDcs& addr¢s3 Unit 5 Th¢ Courtyard Callendar Business Park F-alkirk FKI IXR Registered office Unit 5 The Courtyard Callendar BsInesS Park Falkirk FKI IXR TSte¢S Independent Examiner Barrie SLOlt & Co. 16-18 Weir Street Falkirk FKI IRA Stoekbrokers Invest¢c Wealth & Inveshncni 4th Floor 5 George Sireet tilasgow (i2 IDY Page I
The Thomas and Margaret Roddan Trust Report of the trustees for the year ended 31 Oclober 2024 The trusiee5 present their report and the finan¢ial ststements for ihe year ended 31 October 2024. The trusiees who served during Ilie year and up lo ihe date of this report aw.%er out on page l. Strueture) governance and mankig¢ment An Inter Vivos Trust D¢¢d by the noiv deceased Margaret Mackay Roddan dated 28 July 1992 and registered in the Books of Council and Session on ihe 28 October 1992. 1-he Trust is a privaie ch<iritable Trust controlled by the Trustees. Appoinimeni of Trn5kee.f New Tst¢eS are appointed on the recommendaiion of current Trusie¢s, with tandidat¢s being discussed at a Board meeiing to ensure they have the skills required to contribute to the ongoing objectives of the Trust. Objectives and aetivities The Trustees make funds available for hardship applications made directly to Higher Education Institutions. The Institutions shall have sole discretion as to how the funds are distributed subject 10 the following criteria.. l. Funds can only be awarded io-_ d) undergraduaies who will hav¢ complcted al least one year study at the time of tking up the award: b) postgraduates undertaking taught COUTse5, or c) postgraduates engaged in research fi)r a higher degree. 2. Awards may be made to studcnts having their ordinary residenc¢ in Scotland and studying anywhere in the world {iDcluding Scotlandl or students having their ordinary residence outside Scotland and studying in Scotland. 3. Funds must be used to cover expenditure arising from unforeseen contingencies and unexpecied CiTCUmStance5. 4. Funds should not be used to cover ¢xpenditur¢ which should hav¢ be¢n planned ai the ouisei of ihe course such as required periods abroad or requir¢d field ¢ours¢s. 5. Reporrs detailing awards granted are required from each Institution and must be provided to the Trusrees. Reports should include the sludent name. vearitype of studv. course details, rea5un for the aivard, confiTmation the award was taken up and confirmation the student is progressing to the Jiext yearl siage of course if known. The Insiitutions are advised that failure to report within ihe timescale specified will result in an auiomaiic iwo year exclusion from the schem¢. Achievements and performance Th¢ Truste¢s, follolving feedback froin ihe Universiiies, agreed that grant paymenis would be made laier in ihe academic year. It was also agreed that Ihe procedure now adopted where Ihe Universilies were allocated funds to make payments directly in accordance with Trust criieria was a more tost effective wa5. of making payments. The Trustees mei virtually in laie October to a¥re¢ an allocation. £92,300 was mad¢ available with payments of £7,100 io each ol the 13 participating Universities. This was communicaied to each University and confirmaiion was requested thai the Trust terms and conditions were accepied before paymeni was made. Confimiation was received from all 13 Universities and payments totalling £92.300 were duly made. Financial review The policy of the Trustees is. in general. to disiribute all income as it arises and not (o aceumulaie an income reserve. Only in exceptional cirtumsiances would any distributions be made from capital. The Trustees consider that the financial position of the Trust is saiisfactory. Page 2
The Thomas and Margoret Roddan Trust Report of the trustees for the year ended 31 October 2024 Risk management The Trustees havc asse55ed the major ri5k3 to which thc Charity is txy)sed and ar¢ saiisfied ihat th¢). are nol exix)sed io any significanr risks oth¢r than thc fluciuaiioD5 In the valllr of Ihbir invtstriiciii ponfoliu. Tliis portfolio is managed on Ihe basis ofadvice souJ(T t and rccciv¢d from Invc5tec Wealth & Iiivcstiiieiii, Sivbkbi"uk¥i"s, GldSgJOW. Plans for future periods Th¢ Trustees mei in November and agreed thaL £84,000 would be made available in the coming y¢ar, with £6,000 allocaied io each of the 14 participating Universities. This has been ¢omrnunicated to each Univ¢rsiry and confirmation is awaited that the'frusl rems and conditions are accepted before payrnenl is Tnade. Sta¢emellt of trustees, responsibllllies The irusiees ar¢ responsibl¢ for k¢¢ping proper accounting records which disclDse with r¢ason4bl¢ Gura¢Y ot any tim¢ the fiTk)iicial position of the cliarity and cnable ihem io ensure thai Ihe financial statements conipl! with the the Charities and Trusiee Snvesiment {Scoiland) Act 2005 and regulaiiDn 8 of th¢ Charities Accounts (Scotland) Regulations 2006. They are 2150 responsible for safeguarding the assers of the chariiy and hence for iaking reasonable Steps for the preven(ion and deiection of fraud and other irregulariiies. Ru55el + Aitken Noniinees Limited Date: 202 P8ge 3
The Thomas and Margarct Roddan Trust
Independent examiner's report to the trustees on the unaudited financial statcrnents of The
'I"homas and Margaret Roddan Trust.
I report on the aeeolints for the year ended 31 October 2024 set out on pages 2 to 7.
Re$p¢ctive responsibilities of trustees aJJd independeDt exaniiner
Th¢ chaFity's trustLes ai"¥ rttspoiisible for the prcparaiion of the accounts in accordance with Ihe tetins ol-the Charitie5 and
Trusi¢c Invesliiieiii {SLvII(tIid) ALI 2005 (rhe Act) dnd Ihe Charities Accounts (Scotland) Kegulations 2006. The charity's
triist¢¢s ¢oiisider tliat Ili¢
The Thomas and Margaret Roddan Trust Receipts and payments account For the year ended 31 October 2024 Unrestricted funds 2024 Total 2023 Total Reeeipts Income from IJK listed investments Incom¢ from non-UK investments Bank Int¢st receivable Proceeds from sale of investmenis 41.715 35.003 3,357 7,920 41.715 35.003 3,357 7,920 42,265 31,797 2.052 7.200 Total receipts 87,995 87,995 83,3 14 Expenses Grants awarded Independent examination Professional fees Legal fees 92.300 720 7,200 92,300 720 7,200 66,000 690 7.200 44 Total expenses 100,220 100,220 73,934 Net {deficit)I surplus for the year {12.225) {12.225) 9,380 The notes pgge 7 form integral part of these fLn3n¢i#l $tgtem¢nts. Page S
The Thomas and NIargar¢t Roddan Trust Statement of balanees as at 31 October 2024 2024 2023 Cash at Bank Op¢iiiii8 bal&ii¥¢ (Defiiil}ISurplus for the year Closing balance 83,515 9,380 (12,225) 80,670 92,895 Market Valiie 2,834,222 Market Value Inveslrnents Ini'estments Cost 2594.629 2.617.170 2,550,438 Other assets Dealer account% 1,666 Liabililies Grant8 payable Accruals (84,(X)01 (7201 191300) (69a) (84.7201 (92.990) All balances r¢late to ui)restricted fuiids bj the tTU5te¢5 on 25 February 2025 and signed on their behalt by The notes on page 7 form an integrgl pgrt of these fiNancihl st#temenis. Page 6
The Thomas and Margaret Roddan Trust Notes to financial statements for the year endcd 31 October 2024 Accounting policies The principal accounting policies ar¢ summarised below. Th¢ accounting policies have b¢¢n applied conslstenrly throughout the year and the preceding year. Basis of a¢¢ounting The finiincial statements ale prePad under the historical cost convention and in accordance with the Charities Accounts (Stotlandl Regulations 2006 (as amended) and the Charities and -Irustee Investtnent (Scotland) Act 2005. Trustees, emoluments There were no employees during th¢ year (31 October 2023 - nil) and no remuneration wa5 paid to trustees during th¢ year {31 October 2023 nil). No expenses w¢r¢ r¢imbursed to trustees during th¢ year (31 Ociober 2023 - nil). Page 7