REGISTERED CHARITY NUMBER: SC022858
~
eet
et REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS EAR ENDED 5 APRIL 2
FOR THE MAINHOUSE CHARITABLE TRUST
~
Henry Brown & Co Chartered Accountants & Registered Auditors 26 Portland Road Kilmamock Ayrshire KAI 2EB
2
THE MAINHOUSE CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FORTHE YEAR ENDED 5APRIL 2025
==> picture [277 x 194] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Page|
|Reference and|Administrative|Details|}|
|Report|of|the Trustecs|2|to|4|
|Report|of the|Independent|Auditors|5|to|8|
|Statement|of Financial|Activities|9|
|Balance|Sheet|10|
|Cash|Flow|Statement|it}|
|Notes|to|the Cash|Flow|Statement|12|
|Notes|to|the|Financial|Statements|13|to|22|
|Detailed|Statement|of Financial|Activities|23|
----- End of picture text -----
oe
THE MAINHOUSE CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED5 APRIL 2025
TRUSTEES
PRINCIPAL ADDRESS
REGISTERED CHARITY NUMBER SC022858
AUDITORS
Henry Brown & Co
Chartered Accountants & Registered Auditors 26 Porttand Road Kilmamock Ayrshire KAI 2EB
BANKERS
Coutts & Co
440 Strand London WC2R 00S
ADVISERS
Cazenove Capital
1 London Wall Place London EC2Y SAU
Page |
a
:
4
THE MAINHOUSE CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charitics: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and atms
The objective of the trust is to support general charitable causes, at the trustees discretion, usually within the United Kingdom. The trust makes grants to many different organisations of which most are registered charities. Details of charitable payments madc in the year are given in the notes to the accounts.
Grantmaking a1 The trustees have continued their policy of making donations to those organisations they fecl require the most support and whose purposes fall within the spectrum ofthe trust deed.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The trust has continued to make a number of donations of varying sizes to other charitable organisations which, in the view of the trustees, are best placed to address the charitable needs that they have identified for particular support. These include a range of charitable purposes such as health, education, social necds, animal welfare and the relief of poverty. There has been an emphasis on Scottish charitics in general and those based in the Scottish Borders in particular although both national and international charities also feature on the list.
No direct charitable activities have been undertaken by the trust during the ycar.
Investment performance
The trust distributed £186,700 (2024: £159,112) which compares with dividends of £172,458 (2024: £173,459) resulting in a deficit of £14,242 (2024: surplus £13.346) before accounting for minimal administrative costs. Opening valuation £4,309,607 (2024: £4,122,579) compared with a closing valuation of £4,084,940 (2024: £4,338,899). This fall of £224,666 was a result of £180,000 of drawings and a negative return of £44,666.
In accordance with the trust deed, the trustees have power to invest in such stocks, shares, investments and property as they, in their sole discretion, think fit, During the year, the capital valuc of investments decreased by 1.4% (2024: increased by 10.4%). The trustees investment policy is geared towards a balanced return between capital and income.
FINANCIAL REVIEW
Reserves policy
It is the policy of the trust to make distributions from both income and capital which represent up to 4% of the value of the trust's total funds.
The trust's funds are all unrestricted and is represented by a portfolio of investments. These are managed on a discretionary basis by the investment managers. The trustees have power to drawn upon the fund in furtherance of the trust's objectives whilst retaining sufficient funds to mect any commitments they may undertake. The trustees consider that there are sufficient funds available to meet all governance and other committed expenditure in the near future and have not allocated specific reserves to cover these costs
Mainhouse currently maintain sufficient reserves to cover up to 3 months administrative expenditure including any contractual or tegal obligations which 1s calculated to be £1,800 (2024: £1, 527). FUTURE PLANS The trustees plan to continue their policy of making donations to other charitable organisations rather than becoming involved directly in any particular activity. They will continue to support many of the organisations and seek out other potential bencficiarics as thought appropriate.
Page 2
t
THE MAINHOUSE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED $5 APRIL 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
In accordance with the requirements of the trust decd and current statutory requirements, the trustees present their annual report along with the financial statements for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities SORP (FRS 102) ‘Accounting and Reporting by Charitics: Statement of Recommended Practice applicable to charilics preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland (FRS 102) {effective 1 January 2019). Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The trust is an unincorporated™tust, constituted under deed dated 26 October 1993 and is a registered charity, number $C022858. 5
Recruitment and appointment of new trustees
The trustees are appointed by the board of trustees in accordance with the trust deed. The trust deed docs not stipulate the period that the twustees should serve or any maximum number of trustees. The trustees shall never be less than three in number. The board recognises the diversity of opinion and expertise provided by the current level of board members.
The trustees who held office during the year under review were:
Organisational structure
The trustees agree the strategy of the trust and areas of activity for the trust, including considering grant making, msk management,accounting functionpolicics andand generalperformance.trust administrationThe day tois overscenday administrationaof donations, expenditure including payments, the Induction and training of new trustees New trustees joining the board are invited to a briefing meeting on their obligations under charity law, as well as the contents of the trust deed. Trustees are also provided with a copy of the Office of Scottish Charity Regulator’s (OSCR) ‘Guidance for Charity Trustees’.
In addition, new trustees are encouraged to attend an induction session on the operation of the trust. This scssion which Is held by the chief executive, covers the following arcas.-
-
The obligations of the trustees;
-
The legal and operational framework of the trust;
-
The current financial position of the trust;
-
The future plans for the trust and the proposed operational strategy
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustecs and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
Page 3
o
THE MAINHOUSE CHARITABLE TRUST
REPORTOF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL. 2025
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution, requires the trustecs to prepare financial statements for each financial ycar which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that pcriod. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP:
-
- make judgements and estimates that are reasonable and prudent, - slate whether applicable acgpunting standards have been followed. subject to any material departures disclosed and explained in the financial statements;
-
- prepare the financial statements on the going concer basis unless it is inappropriate to presume that the charity will continue tn business,
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charity and to enable them to censure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution. They are also responsible for safeguarding the asscts of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other iregulanties. Approved by order of the board of trustees on bff ts. tooo, and signed on its behalf by:
Page 4
e
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE MAINHOUSE CHARITABLE TRUST
Opinion
We have audited the financial statements of The Mainhouse Charitable Trust (the ‘charity’) for the year ended 5 April 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a truce and fair view of the state of the charity's affairs as at 5 April 2025 and of its incoming resources and application of resources, for the year then endéd;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, and
-
- have been prepared in accordance with the requirements of the Charitics and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charitics Accounts (Scotland) Regulations 2006.
Basis for opinion *' |
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilitics under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the cthical 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 requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concen basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appcars to be materially misstated. [f we identify such material inconsistencies or apparent matcrial misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a maternal misstatement of this other infornation, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 requires us to report to you tf, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
proper accounting records have not dcen kept; or
-
- the financial 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.
Page 5
.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE MAINHOUSE CHARITABLE TRUST
Responsibilitics of trustees
As explained more fully in the Statement of Trustees’ Responsibilitics, the trustees are responsible for the preparation of the financial statements which give a truc and fair view, and for such intemal contro! as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related tu going concem 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 so.
Page 6
»
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE MAINHOUSE CHARITABLE TRUST
Our responsibilities for the audit of the financial statements We have been appointed as auditors under Section 44{1)(c) of the Charities and Trustee [Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether duc to fraud or error, and to tssue a Report of the Independent Auditors 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 (UK) will always detect a matcrial misstatement when it 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
ircegularities, including’ fraud, are instances of non-compliance with laws and regulations, We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
We assessed whether the engagement team collectively had the appropriate competence and capabilitics to identify or recognise non-compliance with laws and cegulations by considering their experience, past performance and support available. All engagement team members were briefed on relevant identified laws and regulations and potential fraud nsks at the planning stage of the audit. Engagement team members were reminded to remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit,
We abtaincd an understanding of the tegal and regulatory frameworks that arc applicable to the charity and the sector in which il operates, focusing on those provisions that had a direct effect on the determination of material amounts and disclosures in the financial statements. The most relevant frameworks we identified include: - UK GAAP: + The Charities SORP (FRS 102); - the Charities and Trustee Investment (Scotland) Act 2005; and The Charities Accounts (Scotland) Regulations 2006.
We gained an understanding of how the charity is complying with these laws and regulations by making enquiries of management and those charged with governance. We corroborated these enquires through our review of sclevant correspondence with regulatory bodics and board meeting minutes.
We assessed the susceptibility of the financial statements to material misstatement, inctuding how fraud might occur, by meeting with management and those charged with govemance to understand where it was considered there was susceptibility to fraud. This evaluation also considered how management and those charged with govemance were remuncrated and whether this provided and incentive for fraudulent activity. We considered the overall control environment and how management and those charged with governance oversee the implementation and opcration of controls. We identified a heightened fraud risk in relation to:
-
Management override of controls
-
Income recognition
In addition to the above, the following procedures were performed to provide reasonable assurances that the financial statements were free of material fraud or error:
- Reviewing minutes of meetings of those charged with govemance for reference to: breaches of laws and regulation or any indication of potential litigation and claims; and cvents or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud;
Reviewing the level and reasoning behind the charity’s procurement of legal and professional services;
Page 7
2
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE MAINHOUSE CHARITABLE TRUST
- Performing audit work procedures over the risk of management override of controls, including testing of journal entrics and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the norma! course of business and reviewing judgements made by management in their calculation of accounting estimates for potential
management bias; - Performing audit work procedures over the risk of misstatement in income recognition, including the testing of income complctencss cut-off, - Completion of appropriate checklists and use of our experience to assess the charity's compliance with charities SORP (FRS 102); and
- Agreement of the financial statement disclosures to supporting documentation.
Our audit procedures were designed to respond to the risk of matcrial misstatements in the financial statements, recognising that risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation. There are inherent limitations in the audit procedures performedand the further removed non-compliance with laws and regulations is from the events and transactions reftected in the financial statements, the fess likely we are to become awarc ofit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.fre.org.uk/auditorsresponsibilities. ‘This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest cxtent permitted by law, we do not accept or assume responsibitity to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Henry Brown & Co Chartered Accountants & Registered Auditors 26 Portland Road Kilmarnock Ayrshire KAI 2EB
Page 8
a
THE MAINHOUSE CHARITABLE TRUST
==> picture [432 x 328] intentionally omitted <==
----- Start of picture text -----
||||||
|---|---|---|---|---|
|STATEMENT OF FINANCIAL|ACTIVITIES|
|FOR|THE|YEAR ENDED5|APRIL|2025|
|2025|2024|
|Unrestricted|Total|
|fund|funds|
|Notes|£|£|
|INCOME AND ENDOWMENTS|FROM|
|Investment|income|2|180,463|182,405|
|EXPENDITURE|ON|
|Raising|funds|3|10,611|9,898|
|Charitable|activities|4|
|Donations|194,260|165,672|
|Tatas|204,871|175,570|
|Net gains on investments|8.580|208,780|
|NET|INCOMEKEXPENDITURE)|(15,828)|215,615|
|RECONCILIATION OF|FUNDS|
|Tota!|funds brought|forward|4,345,101|4,129,486|
|TOTAL|FUNDS CARRIED FORWARD|4,329,273|4,345,101|
----- End of picture text -----
The notes form part of these financial statements
Page 9
e
THE MAINHOUSE CHARITABLE TRUST
| BALANCE SHEET | |||
|---|---|---|---|
| 5 APRIL 2025 | |||
| 2025 | 2024 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 9 | 4,274,267 | 4,275,264 |
| CURRENT ASSETS | |||
| Debtors | 10 | 43,049 | 43,432 |
| Cash at bank | 19,159 | 33,358 | |
| ~ | 62,208 | 76,790 | |
| CREDITORS | |||
| Amounts fallingduc within one year | ia | (7,202) | (6.953) |
| NETCURRENTASSETS | 55,006 | 69,837 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 4,329,273 | 4,345,101 | |
| NETASSETS | 4,329,273 | 4,345,101 | |
| FUNDS | 12 | ||
| Unrestricted funds | 4,329,273 | 4345,101 | |
| TOTALFUNDS | 4,329.273 | 4,345,101 |
The financial statements were approved by the Board of Trustees and authorised for issue OM ........:ccerceseseseerserernesreceeeneene and were signed on its behalf by:
The notes forn part of these financial statements
Page 10
| THE MAJNHOUSE CHARITABLE TRUST | THE MAJNHOUSE CHARITABLE TRUST | ||
|---|---|---|---|
| CASH FLOW STATEMENT FORTHE YEARENDED 5 APRIL |
2025 | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Cash flowsfrom operatingactivities | |||
| Cash generated from operations | (32,109) | ||
| Netcash used in operating activities | (32,109) | {2,429) | |
| Cash flows from investing activities | |||
| Purchase offixedasset investments | - | (12,509) | |
| Saleoffixed asset investments ~ Intcrest received = *' |
9,S77 8.333 |
- 9,075 |
|
| Net cash providedby/(used in} investing activities | 17,910 | (3,434) | |
| Change incash and cash equivalents in the | |||
| reporting period | (14,199) | (5,863) | |
| Cash and cash equivalents atthe beginning | |||
| ofthe reporting period | 33,358 | 39,221 | |
| Cash and cash equivalentsattheend ofthe reportingperiod |
19,159 | 33,358 |
The notes form part of these financial statements
Page {1
o
THE MAINHOUSE CHARITABLE TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2025
a RECONCILIATION OF NET (EXPENDITURE) INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
==> picture [403 x 114] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Net (expenditure)/income|for|the|reporting|period|(as|per the Statement|
|of Financial|Activities)|(15,828)|215,615|
|Adjustments|for:|
|Gain on|investments|(8,580)|(208,780|)|
|Interest|received|(8,333)|(9.075)|
|Decrease/{ increase)|in debtors|383|(46)|
|Increase/(decreasc)|in|creditors|249|(143)|
|Net cash usedtin|operations|(32,109)|(2,429)|
----- End of picture text -----
- ANALYSIS OF CHANGES IN NET FUNDS
==> picture [399 x 84] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|At|6/4/24|Cash|flow|At|5/4/25|
|3|£|£|
|Net|cash|
|Cash|at|bank|33,358|(14,199)|19,459|
|33,358|(14,199)|19.159|
|Total|33,358|(14,199)|19,159|
----- End of picture text -----
The notes form part of these financial statements
Page 12
L
- ACCOUNTING POLICIES
THE MAINHOUSE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thcir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective | January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ircland’ and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 7 » ~
Income 7
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income all relates to investment income and bank interest received.
Expenditure
Liabilities are recognised as expenditure as soon as there is a Segal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic bencfits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the trust. Grants are accounted fur when the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation thal they will receive a grant and any condition attaching to the grant is outside the control of[the][trust,]
Governance costs
Govemance costs comprise all costs involving the public accountability of the trust and its compliance with regulation and good practice.
Taxation
The charity is exempt from tax on its charitable activities.
Irrecoverable VAT
The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustces.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of cach fund is included in the notes to the financial statements.
Foreign currencies
Investments in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. The translations are performed by the Trust's investment managers, Cazenove Capital Management Limited and incorporated into the market valuc of the investments.
Page 13
continued...
b
:
THE MAINHOUSE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
I, ACCOUNTING POLICIES- continued
Financial instruments
The charity only has financial asscts and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value,
Provisions
i
Provisions are recognised when the charity has a present obligation (legal or constructive) as a result of a past’ event, amountit is probableof the obligation,that the charity will be: required to settle that obligation and a reliable estimate can be made of the
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertaintics surrounding the obligation.
| 2. | INVESTMENT INCOME | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | { | |||
| Dividends andunit distnbutions | 172,130 | 173,330 | ||
| Deposit account interest | 8,333 | 9,075 | ||
| 180,463 | 182,405 | |||
| 3. | RAISING FUNDS | |||
| Investment management costs | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Portfoliomanagement | 10,611 | 9,898 | ||
| 4. | CHARITABLE ACTIVITIESCOSTS | |||
| Grant | ||||
| funding of | ||||
| activities | Support | |||
| (see note | costs (sec | |||
| 5) | note 6) | Totals | ||
| £ | £ | £ | ||
| Donations | 186,700 | 7,560 | 194,260 |
Page 14
continucd...
o
THE MAINHOUSE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2025
- GRANTS PAYABLE
Donations
Page 15
2025 2024 £ £ 186,700 159,112
continued...
3
.
THE MAINHOUSE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
- GRANTS PAYABLE- continucd The total grants paid to institutions during the year was as follows:
==> picture [403 x 536] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Abbotsford Trust|3,000|3,000|
|Addenbrooke's|Charitable Trust|10,000|-|
|Alzheimer|Research UK|3,000|3,000|
|Arthurshiel|Animal|Rescue|Centre|1,500|1,500|
|Belhaven|Hill|School|1,500|6,500|
|Big Hoof|2,500|2,500|
|BorderBorders Samaritans Carers Centre|~|7|3.000-|3,0001,750|
|Borders Childrca’s|Chanty|2,500|2,500|
|Borders Search and|Rescue|750|750|
|Borders|Water|Rescue|Team|750|750|
|Brain Tumour Charity|2,500|6,500|
|British|Exploring Socicty|2,500|2,500|
|British|Red Cross|3,000|3,000|
|British Tumour Research|1,000|-|
|Brooke|Hospital|1,500|1,500|
|Cancer Research|UK|10,000|-|
|Canine Concem|Scotland|1,500|1.500|
|Cash|for|Kids Scottish|Borders|-|1,750|
|Charlie|Walter Memorial|Trust|5,000|10,060|
|Cheviot|Churches|1,250|1,250|
|Cheviot|Youth|-|2,000|
|Childnet|5,000|5,000|
|Childiine|2,500|2,500|
|Crohn's &|Colitis UK|2,500|-|
|Cystic|Fibrosis|Trust|2,500|2,000|
|David|Nott|Foundation|5,000|-|
|Diabetes UK|2,500|2,500|
|Dig|Deep|1,000|-|
|Fresh|Start|Borders|2,000|2.000|
|Gaza|-|Palmusic.org|-|1,000|
|Great Ormond|Street|Hospital|2,000|2,000|
|Grief Encounter|-|3,000|
|Horse Time|2,000|2,000|
|Hunt|Servants|Fund|1,250|1,250|
|Interest|Link|Borders|2,000|2,000|
|Jo's Trust|-|3,006|
|KAOS Musical|Theatre Group|$00|250|
|Kelso|Heartbeat|500|500|
|Kelso Scout Group|500|1,000|
|Maggies Cancer Caring Centre|3,500|3,500|
|Marie Curie|3,500|3,500|
|Mercy Ships|3,500|3,500|
|Marine Conservation|Society|5,000|-|
|MND/ My Name'S|Doddic|11,700|5,000|
|Multiple|Sclerosis|$,000|3,500|
|National|Galleries of Scotland|1,000|1,000|
|National|Trust|for|Scotland|1,250|1,250|
|Occan Generation|2,000|2,000|
|Order of Malta|3,500|3,000|
----- End of picture text -----
Page 16
continued...
S
THE MAINHOUSE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED § APRIL 2025
| . | GRANTS PAYABLE- continued Oundle School Foundation |
2,500 | 1,750 | |
|---|---|---|---|---|
| Outward Bound Trust in Scotland | 2,000 | 1,750 | ||
| Parkinson's UK | 2,500 | 2,500 | ||
| Pickups forPeace | z | 500 | ||
| Place2Be | 2,500 | 2,500 | ||
| PrincesTrust Scotland | 3,000 | 3,000 | ||
| Prostate Cancer | ta | 3,000 | 3,000 | |
| Qucens House Radley Foundation |
2,500 2,500 |
2,500 1,750 |
||
| Red SquirrelSurvival Trust | ; | 1,250 | {,250 | |
| Riding for the Disabled >Borders RiverTweed Museum |
2,250 4 |
2.250 500 |
||
| Royal BotanicGarden Edinburgh Royal Highland EducationTrust |
5,000 2,000 |
- 3,500 |
||
| RuthStrauss Foundation | - | 1,500 | ||
| Samantans (Borders) | 2,506 | - | ||
| ScottishBorders Rape Crisis | 750 | 750 | ||
| Senhouse Museum Trust | 2,750 | 2,750 | ||
| SongbirdSurvival | 1,750 | 1,750 | ||
| StAndrewsChurch | 3,250 | 1,750 | ||
| Stable Life | 1,750 | 1,750 | ||
| StrokeAssociation SueRyder Thorpe Hall Hospice |
2,000 2,000 |
1,000 - |
||
| World Horse Welfare | 1,750 | 1,750 | ||
| YoungLives vCancer | 3.500 | 2,500 | ||
| Youth Borders | 2.500 | 2,500 | ||
| ZANE: Zimbabwe -A National Emergency | 2,750 | 2,750 | ||
| Misc. Donations | - | 112 | ||
| 186,700 | 159,112 | |||
| 6. | SUPPORTCOSTS | |||
| Govemance | ||||
| costs | ||||
| £ | ||||
| Donations | 7,560 |
Page |7
continued...
&
- SUPPORT COSTS - continued
THE MAINHOUSE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED5 APRIL 2025
Support costs, included in the above, are as follows:
==> picture [403 x 122] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2025|2024|
|Total|
|Donations|activities|
|£|£|
|Auditors’|remuneration|3,102|3,102|
|Postage|and stationery|-|161|
|Accountancy|and|legal|fees|2,598|1,338|
|Bookkecping|1,079|1,078|
|Accountancy|Software|;|781|1,056|
|Bank|charges|=|*|~|-|(175)|
|7,560|6,560|
----- End of picture text -----
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
8. COMPARATIVES FOR THE FOR THE THE STATEMENT OF FINANCIAL ACTIVITIES FINANCIAL ACTIVITIES ACTIVITIES
==> picture [407 x 269] intentionally omitted <==
----- Start of picture text -----
|||||
|---|---|---|---|
|COMPARATIVES FOR THE FOR THE THE|STATEMENT OF FINANCIAL ACTIVITIES FINANCIAL ACTIVITIES ACTIVITIES|Unrestricted|
|fund|
|£|
|INCOME AND|ENDOWMENTS|FROM|
|Investment|income|182,405|
|EXPENDITURE ON|
|Raising|funds|9,898|
|Charitable|activities|
|Donations|165,672|
|Toial|175,570|
|Net|gains on investments|208,780|
|NET INCOME|215,615|
|RECONCILIATION|OF FUNDS|
|Total|funds brought|forward|4,129,486|
----- End of picture text -----
Page 18
continued...
&
THE MAINHOUSE CHARITABLE TRUST
NOTES TOFOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025continued 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued
| NOTES TOFOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-TOFOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-STATEMENTS 5 APRIL 2025- - continued FOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025- THE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-YEAR ENDED STATEMENTS 5 APRIL 2025-ENDED STATEMENTS 5 APRIL 2025-5 APRIL 2025-APRIL 2025-2025- |
NOTES TOFOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-TOFOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-STATEMENTS 5 APRIL 2025- - continued FOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025- THE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-YEAR ENDED STATEMENTS 5 APRIL 2025-ENDED STATEMENTS 5 APRIL 2025-5 APRIL 2025-APRIL 2025-2025- |
NOTES TOFOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-TOFOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-STATEMENTS 5 APRIL 2025- - continued FOR THETHE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025- THE FINANCIAL YEAR ENDED STATEMENTS 5 APRIL 2025-YEAR ENDED STATEMENTS 5 APRIL 2025-ENDED STATEMENTS 5 APRIL 2025-5 APRIL 2025-APRIL 2025-2025- |
||
|---|---|---|---|---|
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES-FOR THE STATEMENT OF FINANCIAL ACTIVITIES-THE STATEMENT OF FINANCIAL ACTIVITIES-STATEMENT OF FINANCIAL ACTIVITIES-OF FINANCIAL ACTIVITIES-FINANCIAL ACTIVITIES-ACTIVITIES-- continued | Unrestricted | ||
| fund | ||||
| £ | ||||
| TOTALFUNDSCARRIEDFORWARD | 4,345,101 | |||
| 9. | FIXED ASSET INVESTMENTS | |||
| 2025 | 2024 | |||
| . | £ | £ | ||
| Shares a Other * |
= | 4,091,945 182,322 |
4,083,365 191,899 |
|
| 4,274,267 | 4,275,264 | |||
| Additional information | as follows; | |||
| Listed | ||||
| investments | ||||
| £ | ||||
| MARKETVALUE | ||||
| At6April 2024 | 4,083,365 | |||
| Unrealised gains / (losses) | 8,580 | |||
| At 5 April 2025 | 4,091,945 | |||
| NETBOOK VALUE | ||||
| At April 2025 |
4,091,945 | |||
| At5 April 2024 | 4,083,365 | |||
| There were no investment assets outside the UK. | ||||
| Investments atMarket | ValueComprtse: | |||
| §.4.25 | 5.4.24 | |||
| £ | £ | |||
| UK equitiesandequitytrusts | trusts | 4,091,945 | 4,083,365 | |
| Cash held withthe investment portfolio | 182,322 | 191,899 | ||
| 4,274,267 | 4,275,264 |
Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impatrment.
Page 19
continued...
2
9,
THE MAINHOUSE CHARITABLE TRUST
NOTES TO THE[FINANCIAL][ STATEMENTS] - continued FOR THE YEAR ENDED 5 APRIL 2025
FIXED ASSET INVESTMENTS- continued
Investments (neither listed nor unlisted) were as follows:
==> picture [399 x 81] intentionally omitted <==
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Cash|deposits|182,322|191,899|
|The cost of|unquoted and|listed|investments at|5|April|2025 was £3,917,887 (2024|-|£3,917,887)|
|DEBTORS;|AMOUNTS|FALLING|DUE WITHIN ONE YEAR|
----- End of picture text -----
==> picture [431 x 339] intentionally omitted <==
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|3|£|
|Trade debtors|43,049|43.432|
|it.|CREDITORS:|AMOUNTS|FALLING|DUE WITHIN ONE YEAR|
|2025|2024|
|£|£|
|Other creditars|7,202|6,953|
|12.|MOVEMENT|IN|FUNDS|
|Net|
|movement|Al|
|At|6/4/24|in|funds|S/4f25|
|£|£|£|
|Unrestricted|funds|
|General|fund|4,345,101|(15,828)|4,329,273|
|TOTAL FUNDS|4,345,101|(15,828)|4,329,273|
|Net|movement|in|funds,|included|in|the|above|arc|as|follows:|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|180,463|(204,871)|8,580|(15,828)|
|TOTAL FUNDS|180,463|(204,871)|8,580|(15,828)|
----- End of picture text -----
==> picture [27 x 10] intentionally omitted <==
----- Start of picture text -----
Page 20
----- End of picture text -----
==> picture [40 x 10] intentionally omitted <==
----- Start of picture text -----
continued...
----- End of picture text -----
32
THE MAINHOUSE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED5 APRIL 2025
12, MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
:
==> picture [403 x 350] intentionally omitted <==
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|6/4/23|in|funds|5/4/24|
|£|£|£|
|Unrestricted|funds|
|General|fund|4,129,486|215.615|4,345, 101|
|TOTAL|FUNDS"|4,129,486|215,615|4,345,101|
|Comparative|net movement movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in|funds|
|fi|£|£|£|
|Unrestricted|funds|
|General|fund|182,405|(175,570)|208.780|215,615|
|TOTAL FUNDS|182,405|(175,570)|208,780|215.615|
|A|current year|12 months and|prior year|12 months combined|position|is|as|follows:|
|Net|
|movement|At|
|At|6/4/23|in|funds|5/4/25|
|£|£|£|
|Unrestricted|funds|
|General|fund|4,329,486|199,787|4,329,273|
|TOTAL FUNDS|4,129,486|199,787|4,329,273|
----- End of picture text -----
Comparative net movement movement in funds, included in the above are as follows:
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
==> picture [403 x 82] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|incoming|Resources|Gains and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|362,868|(380,441)|217,360|199,787|
|TOTAL|FUNDS|362,868|(380,441)|217,360|199,787|
----- End of picture text -----
Page 21
continued...
s
THE INHOUSE ST
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2025
- RELATED PARTY DISCLOSURES
a: : a governing role in the Order of Malta and a donation of £3,500 was made to the trust during the year (2024: 000) a a family member involved with Big Hoof, and a donation of £2,500 was made to this charity during the year (2024: £2,500}.
Page 22
&
==> picture [438 x 465] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|N|VITI|
|FOR|THE|YEAR|ENDED|5|APRIL 2025|2025|2024|
|£|£|
|INCOME|AND|ENDOWMENTS|
|Investment|income|
|Dividends|and|unit|distributions|172,130|173,330|
|Deposit account|interest|8.333|9,075|
|180,463|182,405|
|Total|incoming|resources|180,463|182,405|
|EXPENDITURE|
|Investment management|costs|
|Portfolio management|10.611|9898|
|Charitable|activities|
|Grants to institutions|186,706|159,112|
|Support|costs|
|Governance|costs|
|Auditors’|remuneration|3,102|3,102|
|Postage and stationcry|-|161|
|Accountancy|and|legal|fees|2,598|1.338|
|Bookkeeping|1,079|1,078|
|Accountancy|Softwarc|781|1,056|
|Bank|charges|:|(175)|
|7,560|6,560|
|Total|resources expended|204,871|175,570|
|Net|(expenditure)/income|before|gains and|
|losses|(24,408)|6,835|
|Realised|recognised|gains and|losses|
|Realised|gains/(losses)|on|fixed|asset|investments|8,530|208,780|
|Net (expenditure)/income|(15,828)|215,615|
----- End of picture text -----
This page does not form part of the statutory financial statements
Page 23
s