PONTON HOUSE TRUST REPORT AND ACCOUflts FOR THE YEAR ENDED 30 JUNE 2023 Registered Scottish Charity Number". SC021716 WHITELAW WELLS CHARTERED ACCOUNTANTS
PONTON HOUSE TRusr REPORT AND ACCOUNTS FOR THE YEAR ENDED 30JUNE 2023 CONTENTS PAGE Trustees. Report Audit Report Statement of Financial Actwities Balance sheet io Notes to the financial statements li
PONTON HOUSETRU TRUSTEES. REPORT FOR THE YEAR ENDED 30JUNE 2023 Introduction The Trustees present their report and the financial Slatement5 of the chartty for the year ended 30 June 2023. The financial statements Comp with the Chartties and Trustee Investment Istotlandl Art 2005, the Charities Accounts Iscotlandl Regulations 2(K)6 las amendedl, and Accounting and ReFK>rting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republ of Ireland IFRS 1021 leffectrve l January 20191. OblectlvÈs. Artivities and Grant-Mak4n8 Policy The Trust was set up after the Closu of the fomer residential home which was known as the Ponton House Bo, Residence and from which the majority of the original funds were derived. The Trustee5 hold the trust funds for such charitable purposes as they in their sole discretion mèy decide, includinB but not exclusively, the advancement of citizenship and community development lincluding the promotion of cNic responsibility. volunteerin& the voluntary sector or the effectiveness or efficiency of charitie51. The expression "charitable purposes~ means a charitable purpose as defined in Section 7 of the Charities & Trustee Investment (Scotlandl Act 21JOS and which is also regafded as a tharitable puip05e in relation to the applitation of the Taxes Act. The TrLtstees have power to apply the capttal and the incorne of the tn15t funds towards these purposes to such an extent as they may from time to time think fit and, in 50 far as any such income is not so utilised in any one year. it may at the Trustees. discretion. esther be retained by them and expended in the following vear or years for the Trust's purposes or added to the capital of the trust funds. Although the Trust's charttable objectives are drawn in wide terms in the TnJ5t Deeds, in practice the Trijstees have adopted and generally follow specific grant-giving criteria which are reviewed from time to time. At the present time, income is distributed mainly to charriable organisations based or operating in the Edinburgh and Lothban area of Stotland with partKular emphasi5 on children and young people and on charities which a involved with people who may be disadvantaged in some specific way, and charities where help from the Ponton House Trnst can make 311 the differerbce to financial viability- In addition, the Trustees make an annual grant payment to the Edinburgh and Lothian Trust Fund to enable that Fund to make small grants to individuals in need. 2023 is the 301h anniversary of the foundation of the Trust and the Trustees have been exploring the most appropriate way to mark the occasion. The current intention is to award a special one-off larger Èrant to one or two selected charities which the Trust has supported in previous yea. Achievements and Perfomiance During the period of these accounts. the Trustees made grants and other charitable donations to 42 orÉanisations (including Edinburgh and Lothian Trust Fund) totalling of £115.67012022: 29 organisations totalling £84,130). This is higher than last year due to an increased demand for support from charities affected by the pandemic. Further detaits are contained in Note 4 to the accounts.
PONTON HOUSE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2023 Finan¢ial Review During the period of these accounts, the Trustees awarded grants as noted above. The investment income received by the Trust during the year amounted to £94,761 12022.. £100,5921- There were realised gains of £8.834 in the year and there were unrealised gains of £144.829. (During the previous year there were realised gains of £nil and unrealised losses of £588,235). There was a surplu5 for the year of £125,097 12022 - deficit of £581.6801 reflecting the level of donations in the year and the investment movements noted above. The total value of the trust funds held a5 at 30 June 2023 amounted to £3.598.737 12022: £3,473.6401. During the year, interest and dividends, the sole source of funds for the charity. were ceiVed and professional fees incurred. Investment oli and erformance The annual income generated from the trust investments provides the means whereby the charity is able to fulfil its purposes. The investment objective of the Trustees is therefore to achieve an above average income yield together with growth of the income over the lon8 term. To achieve that objective, the Trust has investments in a number of opèn-ended pooled funds and investment trusts. The pooled funds are managed by Baillie Grfford whilst the investment trnst holding5 are the direct responsibility of the Trustees and are held on their behalf through a nominee company. The value of the portfolio increased from £3.418,352 to £3,572,591 during the period. The increase in value was primarity driven by the earnings growth of some of the Trust's underlying equity holdings. This was part offset by some of the investment companies that the Trust invests in trading on wider discounts to their asset value. The trustees believe that the portfolio remains well dNersified. and that it is more useful to look at the returns from its investments over longer-term li.e. 5 yearl periods. er that time frame. the performance of the investment portfolio has been robust. Rlsk Mana ément The Trustees maintaln a Risk Re8lSter for the Trust which is reviewed annually with particular focus on any high-scoring risks that the tharity face5. The Trustee5 are satisfied that appropriate systems are established lo mitigate these risks. The Trustees consider thai the biggest fithancial risk facing the Trust is the variability of investment returns that are fequired to pay for it5 grant-making programme. This risk is mitigated through the prudent investment policy referred to above. The Trustees are aware that there are risks associated wtih grant-making and they give careful consideration to all applications in order to mitigate those risks so far as possible. In particular a pro forma grant application fomi is provided by the Trust on its website to ensure that an adequate and similar level of information is provided to the Trust by all grant applicènt5 before deci5ion5 by the Trustees are made. ReseNes oll The Trustees have chosen not to designate the capital funds held by the Trust. The Trustees regularly review the reserves of the charily and consider donations to be made based on the level of reserves held after allowin8 for the annual operatin8 Costs of the charity. The Trustees are satisfied th3t adequate funds were available at the Balance Sheet date to continue to fu11 the charitable objectives of the Trust.
PoON HOUSE TRUST TRUSTEES. REPORT {contl FOR IHE YEAR ENDED 30 JUNE 2023 Future Plans Apart from the proposed 30th anniversary grants referred to above. the Trustees intend to continue to provide Brants in a similar way to the way in which they have done so in previous years. The use of the standardised Brant èpplication form avaihble on the Trust's website facilitates the application process, and the Trustees, experience is that thrs encourages a wide range of applicafit5 to approach the Trust for firancial support. At the same time this proce55 enables the Trustees to exercise an appropriate de6ree of scrutiny when ColderIng applications as well as en5uiin8 as consistent an approach as p055ible when awarding indwidual grants. Structure Governance and Mana ement The Charity was formed in 1993. The founding document is a Declaratr)n of Trnst by The Honourable Lord Grieve and Others dated 21 July 1993 etc and regislered in the Books of Council and Session on 16 August 1993 as arnended by a Supplementary Deed of Trust dated 31 August and 10 September 2010. Since the year end, the TrUStS twk the decisKJn to incorporate the Trust and become a Scottish Charitable Intorporated Organisation, a SCIO. It is anticipated that this proce55 will take place in the coming year. The Trustees who setved during the period of these accounts are noted on page 4. In appointing Trustees. the Board seeks to mainiain a balance of revant skills and a diversity of experience. New Trustees receNe copies of the Trust Deed. Minute5 and Accounts and OSCR'S GuKlance and Good Practicg fDr Charttv Trustees. The Trust Deed provides for a rnininum of fNe Trustees and appointmènts are not limited in time. It is important that the Trustees maintain a breadth of experience and knowled were delighted to appoint two new Trustees cluring the year same time the Trustees wish to place on record their thanks for the Immense contribution OT who after many years, service retirod as a Trustee in April. e on the 8oard and so they ,It the The Trustees, who have wide inveslment powers, meet on a quarterly basis throughout the year to review the financial position of the trust and tnake decisn$ on the application of income for charitable purposes. David Reith, as Secretary and Treasurer of the Trusi, admini5ter5 the chartty on a day to day basis. Baillie Glfford & Co manage the open-ended pooled funds held within the investrnent portfolio on behalf of the Trustees and the ftsui Investrnent trust holdin8s are held by Rathbone Investment Management, in their nominee holding company to Ihe order of the Trustees. Details of Transactions with Related Parties Part of the charity's investment portfolio is managed by Baillie Gifford & Co uiider tlie terms of an Investment Management Agreement dated 15 january 2014. A(klitionallv, Iso acts as manager for the investment trust5 in which the Trust owns shares. One of the Trustees is a partner at Baillp Gifford whose advice a1 support to the Trustees is invaluable. Further details are disclosed in the Notes to the Accounts.
PooN HOUSE TRUST TRUSTEES, REPORT (cont) FOR THE YEAR ENDED 30 JUNE 2023 Referente and Administrative Information Scottish Charity Number: SC021716 Website.. www. ntonhouse.or Trustees.. Iresigred 25 April 20231 (appointed 19 July 20221 (appointed 25 April 20231 Secretary and Treasurer Registered office clo Lindsays LLP Caledonian Exchange 19A Cannin8 Street EdInbrgh EH3 8HE Independent Auditor Whitelaw Wells Chartered Accountants 9 Ainslie Place Edlnburgh EH3 6AT Investment Managers Baillie Gifford & Co Calton Square l Greenside Row Edinburgh EHI 3AN Legal Advisers Lindsays LLP Caledonian Exchange 19A Canning Street Edinburgh EH3 8HE
PONTON HOUSE TRUST TRusfEES' REPORT Icontl FOR THE YEAR ENDEO 30 JUNE 2023 STATEMENT ASTO DISCLOSURE TO AU0OR5 So far as the Trustees arè aware. there s no relevant audit information of which the charitys auditors 3re uTraware. and each Trustee has taken all the steps they ou8ht to have taken 3s a Trustee in order to make thèmselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Trustees. Res on%bilities The Tru5tee5 are responsible fof prepari Ihe Repori of the Truslees and the financlal statements In accordance w5th appllcabfe law and United Kln8(k)rn Accountlng Standards Iunlted Klngdom Generally Accepted Accounting Practicel. The law applitable to charities in Scotland, the Charrt*s and Trustee Investmenl IScotlaTrdl Act 2005, Charities Accounts Iscotlandl Regtn5 2006 las amended) and the provisions of the charity's constitution requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resour5 and applicatw)n ol reSours, including the incorne and eKpenditure. of the tharity for that period. In preparing ihose financial statements, the Trustees are required to Selert suitable accounting pdicles and then app them corsistentlv- Observe the methods and principles in the Chartty SORP: Make judgements and estimates that are reasonab and prudent: St3tè whether applicable aCCOLJnting st3ndards have folk)wed. subjert to any material departures disc105ed and exaITred in the financial statements- Prepare the financial statements Dn the Boin8 concern basis unless it is inappropriate to presume that the charity will tontinue in busines& The Trustees are responsible for keeping proper account1t records which disc105e with reasonable accuracy at any time the financial posltitsn of the charbty and to enable them to ensure that the financial statement5 comply with the Charities and Trustee Inve5ttnent (Scotlandl A(t 2CM)5, the Charities Accounts Isiotlandl Re6ulatK)n5 2006 las amended) and the provislons of the chaitty's constitution They are also responsible for safeguarding the a55et5 of the charity and hence for taklng reasonable steps for ihe preveniion and deiection of fraud and other Irregularrties. The Trustee5 are responsible for the rnaintenance and integrity of the Trust and financial inforrnation included on the Trust's website. Legislation in the United Kingdom governing the preparalion and dissemination of financial statemerts may drffer Irom legslation in other jurisdictions. The Trustees confirm that the accounts comply with the above requirements. ehalf bv. rustee an
INDEPENDENT AUDITORS. REPORTTO THE TRusfEES OF PONTON HOUSE TRUST FOR THE YEAR ENDED 30 JUNE 2023 Opinion We have audited the financial statements of Ponton House Trust Ithe 'charrVI for the year ended 30 June 2023 which comprise Statement of Financial Activitie5, the Balance Sheet and notes to the financial statements. including a summary of signrficant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. Including FR5102 The Financial Reporting Standard applicable in the VK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements= give a true and fair view of the state of the charity's affairs as at 30 June 2023 and of Éts incoming resources and application of resources for the year then ended; have been properly pPared in accordan with United Kingdom General Accepted Accountin8 Practice.. and have been prepad in accordance with the requirements of the Charities and TTU5tee Investment Iscotlandl Act 25 and regulation 8 of the Chari(ies Accounts (Scotlandl RegLtlations 2006 las amended). Basis for opinion We conducted our audit in accordance with the International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilrties under those standards are fvrther described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to 80in8 concern We have nothing to report in respect of the following matters in relation to which the ISAS IUKI require us to report to you where.. the Trustees. use of the going concern basis of accounting in the preparation of the financial statements Is not appropriate- or the Trustees, have not disclosed in the financial statements any identrfied material uncertainties that may cast significant doubt about the charity's abiif(y to continue to adopt the going concern basis of accounting for a period of at least twefve months from the date when the financial statements are authorised for issue.
INDEPENDENT AUDITORS. REPORTTO THE TRusfEES OF PONTON HOUSE TRUST FOR THE YEAR ENDED 30 JUNE 2023 Other information The other information comprises the information in the annual report. other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other inforrnation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materialty misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financ4al statements or a materièl mi55taternent of the other Trnformation. If. based on the work we have perfom)ed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Mattèrs gn which we are required to report by exception We have nothing to rèport in respert of the following matters where the Charities Accounts (Scotlandl Regulations 2006 las amended) requires us to report to you. in our opinion:. the information given in the Trustees, reF)Ort is in¢onsi5tent in any material respect with the financial Statement5; or sufficient atcountin8 records have not been kept: or the finantial statements are not in agreement with the accounting records and returns- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees A5 explained more fully in the Trustees. responsibility statement set out on page 5, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from rnaterial mi55tatement, whether due to fraud or error. In preparing the financial statements, the Tru5tee5 are responsible for assessing the charitvs ability to continue as a going concern. disclosin& as applicable, matters related to 80ing concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do $0- Our responsibilities for the audit of the financial statements We have been appoirbted as auditor under section 44llllcl of the Charities and Trustee Investment Iscotlandl Act 2C(15 and report In accordance wtih regulatlOn5 made under that Act. Our objectives ère to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to 155ue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when rt exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial Statements.
INDEPENDENT AUDITORS. REPORT TO THE TRuEE5 OF PONTON HOUSE TRUST FOR THE YEAR ENDED 30 JUNE 2023 The extent to which our procedures a Capab of detecting irregularities. including fraud is detailed below.. Irregularities. includtn8 fraud, are instances of non-compliance with laws and règulations. We desi8n prOdreS in line with our responsiEMlities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are (apable of detecting irregularitie5, includin8 fraud is detailed below= Irregularities that result from fra1 are inherently more diffruk to detect than irre8ularities that result from errol. From ernquiries of those charged wrth governance. was detemiined that the rsk of material misstatement from fraud was low wilh little scope for fraud lo occur. l]Jr audit tesling is designed to detect material misstaternents from fraud where the is not high level collusion. Our audit testing was designed to detect material mi55tatements from other irregularities that result from error where there is not high level concealment of the error. In this regard the following audit work was undertaken.. applicable laws and regulations were reviewed and discussed with rnanagement; senior management Meeting minutes were reviewed- internal controls wele Viewed,. and journals were reviewed. From this audit testing it was determined that the risk of material misstatement in this regard was low. WÈ tarried income testing and erants payable testin8 which was designpd to identify any irre8ulariti@% as result of simple mst8ke% or human e0[. From this audit testin8 it was detemined that the risk of material misstatement in this regard was low. A further description of our responsiblities for the audtt of the financial statements is located on the Financial Reporting Council's webstte at.. htt www.frc.or . auditorsres onsibi ities. This destription fcrFfS part ol our auditorfs report. Thi5 report is tnade 501ely to the chariws Tw5tees, a5 a b¢xly, in accordance with 5ectiov 44111 Icl of the Charities and Trusiee Investment15cotlandl Act 2005 anij regulatK)Tb 10 of the CharitE5 Accounts Iscotlandl Regulations 2006 las amended). Our audit work has been undertaken so that we mght state to the charit$ Irustees those matters we are required to state to them In an auditors, report and for no other purwse. To the fullest extent perrnitted by law. we do not accept or assume responsibility to anyone other than the chariti. and its Trustees as a bojy. for our audit worl for this report. or for the opinions we have formpd. 31 October 2023 hitelaw Wells Statutory Auditor 9 Ainslie Pla Edinburgh EH3 6AT Whitelaw Wells is eligible to act as on auditor in terms of sertion 1212 of the Companies Art 2CKJ6.
PONTON HOUSE TRUST sTATEMEp OF FINANCIAL A1vmE5 (incorporating thè Intome & Expenditure Account) FOR THEYEAR END£D 30 JUNE 2023 Unre5trirted Funds 2023 2022 Note Income from: Investment income 94,761 I.592 Total income 94,761 IC.$92 Expenditure on". Charitable activities 123.327 94.037 Total expenditure 123,327 94.037 Net Intame/le¥penditurel and net movement in fvnds before gains and losses on investments 128.5661 6,555 Other recognised gains/llossesl Reali5ed g3ins on disposal of investments Unalised gain5lllossesl on investments 8,834 144.829 1588,2351 153.663 1588,2351 Net movement in funds 125,097 1581.6801 Total funds brought forward 3.473.640 4,055,320 Total tunds carried forward 3.598.737 3.473,640 No trust artrvitie5 were acquired or discontinued during either of the two years. The notes on pages 11 to 20 forni part of these financial statements.
PONTON HOUSE TRUST BALANCE SHEET As at 30 June 2023 Total funds Total funds 2023 2022 Notes FÈd assets Inve5tmentS 5 3,572,591 3,418,352 Current assets Debiors- accrued Income Bank accouni Rathbone5 deposit account 1,275 28,191 723 1,056 56,268 1,399 30,189 58,723 Creditors: amounts fallirg due within one year Accnjals 14,0431 13,4351 Net current assets 26,146 55.288 Net assets 3,598.737 3,473,640 Total charity funds Unrestricted funds 8 3.598,737 3,473,640 AD roved bv the Trustees on 31 October 2023 and SIOn on thelr behalf bv Trustee and Chair The notes on pages 11 to 20 fom) part of these financial statements io
PONTON HOUSE TRUST NOTES TO THE AccouTr¥rs For the year ended 30 June 2023 Principal Accounting policies lal Basis of preparation and a55es5rnent of going concern The accounts (financial 5tatement51 have been prepared under the historical ¢05t convenlion with items recognised at cost or tran5artion value unless othenvise stated in the relevant note to these accounts. The accounts have been prepared in accordance with the Charitie5 and Trustees Investment (Scotlandl Act 2005, Ihe Charities Accounts (Scotlandl Regulations 2006 las amended). the Financibl Reporting Standard applicable in the UK and Republic of Ireland IFR51021 leffectNe l January 20191 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffective I January 20191. The Trust constitutes a public beneftt entty as defined by FRS 102. The Trustees consider that there a no material uncertainties about the Trust's ability to continue as a going concern. With respect to the nexl repw)rting period. 2024. the most signifjcant areas of uncertainty that affect the carrying value of assets held by the Trust are the level of investment retllrn and the perfomance of investment markets (see the investment policy and performance and risk management sections of the Trustees. annual report for more information). The Trustees. going concern assessment covers a perk)d of at least 12 month5 from the date of these financial statements. Ibl Flnancial reporting stsndard 102- reduced dlsclosure exèmptions The Charity ha5 taken advantage of the following disclosure exemption in preparing these accounts. as permitted by the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021- the requirements of Sertion 7 Statement of Cash Flows Icl Funds strurture All of the Charity's funds are unrestricted and are available to be used in furtherance of the charitable objects. Idl Income recognltion All income is recognised once the ¢harrty ha5 entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliablv- Interest on funds held on deposit is included when receNable and the amount can be measured reliabty by the charity.. this is normal upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has beeri declared and notification has been received of the dNidend due. lel Expenditure recognition Liabilities are recognised as expendtture as soon a5 there is a legal or constructive obligation commrttin8 the charity to that expenditure. it is probable that Settlement will be required and the amount of the obligation can be measured reliabfy. li
PONTON HOUSE TRusr NOTES TO THE ACCOUNTS For the year ended 30 June 2023 Principal Accountin8 policies Icontl lel Expenditure recognition Icontl All expenditure is accounted for on an accnjals basis. All expense5 including support costs and governance costs a allocated or ap)rtIoned to the applicable expenditure headings. For more information on thi5 attribution refer to note lil below. Grants payable are payments made to third parties in furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award.. the notifFcation grve5 the recipient a reasonable expettation that they will receive a grant. Grant awards that are subject to the recipient fulfilling conditions are only accwed when the recipient has been notified of the grant and any remaining Unfu111ed condition attaching to that grant is outside of the control of the Trust. Provisions for grants are made when the intention to make a grant has been communicated to the recipieni but the is uncertainty as to the timing of the grant or the amount of Brant payable. ifj Irrecoverable VAT Irrecoverable VAT is charged against the expendtture heading for which it was incurred. Igl CO of raising funds The costs of raising funds consist of investment management costs. Ihl Charitable activities Costs of charitable athtvitie5 include grants made. support and governance costs as shown in note 4. Support and governance tosts Support Costs have been allocated between governance costs and other support costs. Governance costs comprise all costs Invo1ng the public accountability of the charity and its compliance wtth regulation and good practice. These costs include costs related to audit and an apportionment of overhead and support costs. The allocation of support and Bovernance costs is analysed in note 4. Fixed asset investments Investments are a form of basic financial instrument and a initialty recogni5ed at their transaction value and subsequently measured at their fair value as at the balance sheet date sing the tlosin8 quoted market price. The staternent of financial activities includes the net gaiEkS and losses arising on revaluation and disposa15 throughout the year. The Trust does not acquire put options. derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attrtude of investors to investment risk arhd changes in sentiment concerning equities and within particular sectors or sub-sectors. 12
POON HOUSE TRUST NOTES TO THE ACCOUNTS For the year ended 30 June 2023 Principal Accountin8 poli¢ie5 Icontl Ikl Realised gains and 105se5 All 8ains and losses are taken to the Statement of Financial Activitie5 as they arise. Realised gains and losses on investments are calculated a5 the difference betweerb 5ale5 proceeds and their opening carrying value or their purchase value rf acquired subsequent to the first day of the financial year. Unrealised gains and losses a calculated as the dIffenCe between the fair value at the year end and their carrying value. Cash and cash equivalents Cash and cash equivalents are represented by cash in hand. dep051ts held at call with financial institutions and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignrficant risk of change in value. Trustees and employees The Trust has no employees and none of the Trustees received any remuneration. nor were any expenses reimbursed to any of them. during the year. The charrt5 investment portfolio was largely managed by Baillie Gifford of which one of the Trustees. Toby Ross was employed as a senior investment manager at Baillie Gifford. Toby was appointed a Partner èt Ballie Gifford with effect from l May 2023. No investmenl management fees were paid directly to Baillie GtFford for this seryice. Some of the fund5 are held in open*nded pooled funds which are managed by, and therefore pay fees to, 8arllie Gifford. It is estimated that ihe effective underlying benefit to Baillie Gifford derived from these funds is around £12.IXQ per annum. One of the Trustees. Lynsey Kerr, is a partner in lindsays Solicitors. The Trust paid legal fees of £1.916 to Lindsays Solicitors during the previous year. Inve5trnent income Total fvnds 2023 2022 UK Investment5- Listed Interest orh funds held by Rathbones and in bank 94,621 140 100.588 94,761 IIX),592 Empenditure on charitable ortivitie5 Gront makin The charity did not undertake any charitable activity directty but met its charitable purposes through grant-making. All grants a awarded to institutions. none are made to individuals. During the year grants and charitable donations were made by the Trustees under the following Categories: 13
PONTON HOUSE TRUST NOTES TO THE ACCOUNTS For the year ended 30 June 2023 EMpÈnditure on charitable activlties {contl Gront mokin cont 2023 2022 Children & Familie5 Young People Learning DiFficulties Arts Health Homelessness Other 30,111 41.059 28,0(M) 20,650 6,500 20,OCKI 12,CK)) 1,980 15,0(K) 19.5(KJ 115,670 84,130 The percentage split is represented in the pie chart below= ththlren & Fa5 w YO Per rt5 Heakh Learnirl 0rffKLthie5 The above grants and charitable donations were awarded to the following organisations= 2023 2022 Children & Families Arniston Playgroup Cruse Bereavement Care Scotfand Cross Reach Kinship Care Midlothian Edinburgh Women's Aid Families Outside Family Service Unit Icirclel 2.000 C/fwd lo.o( 14,000 14
POTr0N HOUSE TRUST NOTES TO THE ACCOUNTS For the year ended 30 June 2023 Expenditure on charitable artivities (cont) 2023 2022 Blfwd iO.(KN) 14,OCrfJ Fet-Lor Youth Centre Hopscotch Children's Charity Li5more Rugby Football Mayfield Lawfield Tyneside ASC Muirhouse Millennium Community Centre One Parent Families Scotland Pilmeny Development Project Play Midlothian Play Therapy Base Dalkieth Pregnancy Counselling & Care (Scotlandl St Andrews Children's Siety The Larder. West Lothian University of Edinburgh- Children's Holiday Venture West Lothian Financial Inclusion 611 3,0 3,0 2,COO 2,000 1,500 1,5CM) 30,111 28.000 Youn Peo About Youth All or NothirTrg Ariel Dance Anne Frank Scotl3nd 88 Craigalmond Scout Group Dads Rock Dean and Cauvin Young People's Trust Earth in Common Edinburgh Young Carers Granton Youth Centre Into Work Karele Ltd LEAD Light up Learning Lochend Football Club Move On North Edinburgh Art5 Ocean Youth Trust Scotland PenicuikYMCA-YWCA People Know How 2,7 3,WO 3.1X)O 1,181 3,000 2.0 950 2,574 2,500 Clfwd 34,255 20.650 15
PONTON HOUSE TRLIST NOTES TO THE ACCOUNTS For the year ended 30 June 2023 Expenditure on charitable actlvities Icontl 2023 2022 B/fwd 34.255 20.650 Social Mobility Fund Street Soccer Scotland Venture Trust Wee Haven Youth Project 2.5CN) 2,304 44,059 20,650 Learnin Difficulti Lothian Autistic Society The Yard Upward Mobility Ltd 2,000 2,500 6,500 Arts Dirliebane Theatre Company Health Asthma & Allergy Foundation Cerebral Palsy Scotland Children's Health Scotland Crew 2000 Epilepsy Action Scotland Hearts and Mind5 Clowndoctors HSTAR Scotland Positive Help Scottish Huntington's Association 2,1)00 2,000 2,0(X) Clfwd 14.OC(I 12.OCN) 16
PONTON HOUSE TRUST NOTES TO THE ACCOUNTS For the year ended 30 June 2023 Expenditure on Charitable activities {contl 2023 2022 Blfvld 14,OCK) 12,¢XJO Spina Bifida Hydropha1S Scotland U-evolve 20,1XK) 12,000 Homelessness Open Dwr Accommodation 1.980 1.980 Other Corstorphine Community Centre Volunteerin8 Matter5 Edinburgh and Loth4an Trust Fund 1.500 15.OCKI 15.000 19.5LK) 1S,OtKJ Su ort Costs Secretarial and administration costs Legal fees Accounting fees Miscellaneous 4,180 5.180 1,916 420 271 500 217 4.897 7,787 Govemunce Costs Auditors, remuneration- audit fee Management fees 2.560 2CMJ 1,920 2CK) 2.760 2,120 Total expenditu 123,327 94,037 17
PONTON HOUSE TRUST NOTES TO THE ACCOUNTS For the year ended 30 June 2023 Investments 2023 2022 Investments at market volue As at l July Additions in period Disposals in period Realised Ilossesllgains during year Unrealised Ilossesllgains during year 3,418.352 4,006,587 4CQ,261 1399,6851 8,834 144,829 1588,2351 As at 30 June 3.572.591 3.418,352 All investments were held in the UK and are as shown below. Market Value 2023 Number 2023 2022 2023 2022 2022 Baillie Gifford Global Income Growth Fund 78,9 78,990 402,83 402.83 798,591 727,579 513.602 Baillie Gifford Strategic Bond Fund B Baillte Grfford Sustainable Income Fund B 390,85 31,850 I,(K)8,87 1,CQ8.87 998.38 998,38 1,053,29 1.044.18 Baillie GrfFord UK Growth Trust 25p Ordinary Shares 11,000 198.60 180,400 Scottish American wr PLC 25p Ordinary Sha$ 192,0(KJ 192.OCKI 547.53 547,53 I,(KJ2,24 890.880 Scottish Mortgage Investment Trust 5p Ordinary Shares Monks Investment Trust 5p Ordinary shares 51,0(Kl 51.OCKI 37.814 37,814 364,854 339.864 20,000 201,65 198,2rxJ 18
PONTON HOUSE TRusr NOTES TO THE ACCOUNTS For the year ended 30 June 2023 Debtors 2023 2022 Accrued income 1,275 1,056 1.275 1,056 Creditors 2023 2022 Accruals 4,043 3,435 4,043 3.435 Analysis of Charitable Funds Gain5 & L055es Fund blf Income ExpendSturÈ Fund clf Analysis of Fund Movements 2023 General 3,473,640 94.761 1123,3271 153,663 3,598,737 Fund b/f Income Expenditure Losses Fund c/f Analysis of Fund Movement5 2022 General 4.055.320 l(KJ,592 194.0371 1588.2351 3,473,640 9. Trustèès Expenses No fees for seNices We paid to TrtJstee5 during the year12022'. Nill. 19
PONTON HOUSE TRUST NOTES TO THE Accoup¥rs Forthe ar ended 30June 20Z3 10. Related Parties There are no rèlated party transaction5 Other than as diEclDsed in note 2. a Partner at 8aillie Grfford + Co. is a Partner at Lindsays LLP. No Tru5lee or other pe150n related to the charity had any personal interest in any contract or transactlon entered Imo by the charfty durln8 the year. 20