Scottish Charity No SC023230
THE MAPLE TRUST
TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
Brodies LLP Capital Square 58 Morrsion Street Edinburgh EH3 8BP T: 0131 228 3777 Ref: NJN.MAP0010
THE MAPLE TRUST
FOR THE YEAR ENDED 5 APRIL 2025
Reference and administrative details of the charity, its trustees and advisors
Scottish Charity No SC023230
Trustees:
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Registered address:
Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP
Solicitors:
Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP
Bankers:
Royal Bank of Scotland 36 St Andrew Square Edinburgh EH2 2AD
Stockbrokers:
RBC Brewin Dolphin Sixth Floor, Atria One 144 Morrison Street Edinburgh EH3 8EX
Independent examiner:
Chartered Accountant Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP
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THE MAPLE TRUST
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their annual report and financial statements for the year ended 5 April 2025.
Structure, Governance and Management
Establishment of trust
The trust is constituted by deed of trust by
The trust is constituted by deed of trust by , Lyne Station House, Peebles dated 29 November and 9 December 1994 and recorded in the Books of Council and Session on 21 December 1994. subsequently died on 29 May 2011, and left the residue of her estate to the
Maple Trust.
Trustee meetings and appointment
New trustees are selected and appointed by the existing trustees, and are briefed on the trust's aims, objectives, grant making policy and purposes. At the trustees' meetings which take place twice a year, the trustees agree the broad strategy and areas of activity for the trust, including consideration of grant making, investment, reserves and risk management policies and performance.
Risk management
The trustees have assessed the risks to which the trust is exposed, in particular those related to the operations and finances of the trust and are satisfied that systems are in place to mitigate all exposure to major risks. The trustees consider variability of investment returns as one of the major risks, and therefore the trust uses the services of a stockbroker as investment adviser.
Objectives and Activities
Trust purposes
The deed of trust provides for wide-reaching charitable objects affording the trustees the power and flexibility to apply income and capital of the trust fund by awarding grants for the benefit of charitable purposes.
Grant making policy
Grants are awarded at the trustees' discretion and are charitable both in law and the purposes of the Taxes Acts. Following a review carried out by the trustees in August 2023, the trust's grant making policy is currently focussed on children and young people in Scotland with a focus on smaller/grass roots organisations. The previous trustee review was in 2015 in which the trustees agreed to focus on (1) children and young people, (2) community outreach and arts in Scotland, and (3) social justice.
Achievements and Performance
During the year charitable donations totalling £64,000 were made (2024: £62,000). Details of these donations are set out in note 12 to the accounts.
The market value of the investments at the year end was £1,313,489 (2024: £1,393,015), a decrease of 5.7% in the year. The investments produce an overall estimated income yield of approximately 2.6% which the trustees consider makes sufficient provision for income without prejudicing the ability of the portfolio to benefit from capital appreciation in the longer term.
Financial Review
As at 5 April 2025 there was an overall cash balance of £21,973.56 (2024: £25,626.94). Reserves at 5 April 2025 were £1,330,752.24 (2024: £1,411,229.94).
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THE MAPLE TRUST
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 5 APRIL 2025
Reserves policy
It is the policy of the trust to maintain funds at a level sufficient to cover management, administration and donations. Capital funds are retained in order to generate income to be expended for charitable purposes.
Investment policy and objectives
RBC Brewin Dolphin are investing in a diversified portfolio across a broad spread of assets with the objective of a balanced return from both income and capital. It is essential that the appointed investment manager has appropriate risk controls in place at every stage of the investment process.
Plans for Future Periods
By continuing to award funding to charities and individuals the trust provides a long term commitment to meeting its objectives.
Statement Of The Trustees' Responsibilities
The trustees are responsible for preparing the accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Law applicable to charities in Scotland requires the trustees to prepare accounts for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year.
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In preparing accounts giving a true and fair view, the trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the accounts comply with the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
03 October 2025 | 11:26 AM BST
Approved by the board of trustees and signed on their behalf on . … … … … … … … … … … .. . . . . .
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THE MAPLE TRUST
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2025
I report on the financial statement of the charity trust year ended 5 April 2025 which are set out on pages 5 to 10.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in, any material respects the requirements:
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to keep accounting records in accordance with Section 41(1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chartered Accountant Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP
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02 October 2025 | 2:21 PM BST
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THE MAPLE TRUST
STATEMENT OF RECEIPTS AND PAYMENTS
FOR THE YEAR ENDED 5 APRIL 2025
| Note Receipts Investment income Investments realised - net 10 Total Receipts Payments Investment management costs 8 Donations 12 Administration costs 9 Trustees expenses 6 Total Payments Net receipts/(payments) Transfer capital to revenue Surplus/(deficit) for year |
Unrestricted 2025 2024 Capital FundsRevenue Funds Total Total £ £ £ £ - 35,851.36 35,851.36 38,614.38 43,543.09 - 43,543.09 35,787.78 |
|---|---|
| 43,543.09 35,851.36 79,394.45 74,402.16 |
|
| 9,794.79 - 9,794.79 9,254.96 - 64,000.00 64,000.00 62,000.00 6,384.00 2,736.00 9,120.00 9,330.00 - 131.04 131.04 161.86 |
|
| 16,178.79 66,867.04 83,045.83 80,746.82 |
|
| 27,364.30 ( 31,015.68) ( 3,651.38) ( 6,344.66) ( 31,207.86) 31,207.86 - - |
|
| ( 3,843.56) 192.18 (3,651.38) ( 6,344.66) |
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THE MAPLE TRUST
STATEMENT OF BALANCES
AS AT 5 APRIL 2025
| Unrestricted Capital Funds Revenue Funds £ £ Cash Funds Opening cash at bank and in hand 22,578.10 3,046.84 Add: Receipt and Payments (deficit)/surplus ( 3,843.56) 192.18 Closing cash at bank and in hand 18,734.54 3,239.02 Bank And Cash Balances RBC Brewin Dolphin - cash 8,305.31 3,239.02 Brodies LLP - cash Royal Bank of Scotland - Solicitors Special Deposit Account 10,429.23 18,734.54 3,239.02 Investments Investments at market value 1,313,488.68 - Liabilities Brodies LLP fees due Donations agreed to be paid post year end Total Reserves |
Unrestricted Capital Funds Revenue Funds £ £ 22,578.10 3,046.84 ( 3,843.56) 192.18 |
2025 2024 Total Total £ £ 25,624.94 31,969.60 ( 3,651.38) ( 6,344.66) |
|---|---|---|
| 18,734.54 3,239.02 |
21,973.56 25,624.94 |
|
| 8,305.31 3,239.02 10,429.23 |
11,544.33 12,092.76 - 10,429.23 1.31 13,530.87 |
|
| 18,734.54 3,239.02 |
21,973.56 25,624.94 |
|
| 1,313,488.68 - |
1,313,488.68 1,393,015.00 |
|
| ( 4,710.00) ( 4,410.00) - ( 3,000.00) |
||
| ( 4,710.00) ( 7,410.00) |
||
| 1,330,752.24 1,411,229.94 |
03 October 2025 | 11:26 AM BST Approved by the board of trustees and signed on their behalf on………………………….
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THE MAPLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
1 Basis of Accounting
These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulation 2006 (as amended).
2 Nature and Purpose of Funds
Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. The trust's unrestricted funds comprise of a Capital and a Revenue fund. Capital is the invested funds which generate the income (revenue). Revenue is the income received from capital investments. Both funds are subject to expenses. Donations are usually paid from the available Revenue balance. However the trustees are free to use either fund for any purpose in furtherance of the charitable purposes, if they so determine.
3 Taxation
The trust is a charity and is recognised as such by HM Revenue and Customs for taxation purposes. As a result there is no liability to taxation on any of its income.
5 Trustees Remuneration
2025: £ nil 2024: £ nil
6 Trustees Expenses
- £131.04 (2024: £161.85) was paid to three trustees for reimbursement of travel & accommodation expenses to attend meeting.
7 Employees
The trust had no employees at any time during the year (2024: none).
| 8 Investment Management Costs RBC Brewin Dolphin portfolio management fees 9 Administration Expenses Brodies LLP - fees + VAT for year |
2025 2024 £ £ 9,794.79 9,254.96 |
|---|---|
| 2025 2024 £ £ 9,120.00 9,330.00 |
Administration costs have been allocated between capital and revenue on a 70:30 basis.
Note: Fees relating to the year paid post year end Brodies LLP legal advice & management fee 4,710.00 4,410.00
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
10 Investments
Investments are quoted on International Stock Exchanges and stated at market value.
Investments are reviewed at least yearly by stockbrokers and changes in the portfolio are made on their recommendation.
| 2025 £ 2024 £ Market value brought forward 1,393,015.00 1,343,106.00 Add Acquisitions during year 345,608.95 494,145.27 Less Disposals at opening market value ( 366,044.05) ( 543,467.00) Net (loss)/gain on revaluation at 5 April ( 59,091.22) 99,230.73 Market value carried forward 1,313,488.68 1,393,015.00 Historic book cost 1,217,401.60 1,209,449.47 Summary of cash transactions Investments realised 389,152.04 529,933.05 Investments bought ( 345,608.95) ( 494,145.27) Net investments realised 43,543.09 35,787.78 11Analysis of Net Assets Between Funds Unrestricted Funds Capital Revenue £ £ Fixed Asset Investments 1,313,488.68 Net Current Assets 18,734.54 3,239.02 1,332,223.22 3,239.02 Unrealised gains included above Fixed Asset Investments 96,087.08 - Reconciliation of movements in unrealised gains on investment assets £ Unrealised gains at 5 April 2024 183,565.53 Less gains in respect of disposals in year ( 28,387.23) 155,178.30 Net gain arising on revaluations in year ( 59,091.22) Unrealised gains at 5 April 2025 96,087.08 |
2025 £ 2024 £ 1,393,015.00 1,343,106.00 345,608.95 494,145.27 ( 366,044.05) ( 543,467.00) ( 59,091.22) 99,230.73 |
2025 £ 2024 £ 1,393,015.00 1,343,106.00 345,608.95 494,145.27 ( 366,044.05) ( 543,467.00) ( 59,091.22) 99,230.73 |
|---|---|---|
| 1,313,488.68 1,393,015.00 |
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| 1,217,401.60 1,209,449.47 |
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| 389,152.04 529,933.05 ( 345,608.95) ( 494,145.27) |
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| 43,543.09 35,787.78 |
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| Unrestricted Funds Capital Revenue £ £ 1,313,488.68 18,734.54 3,239.02 |
||
| 1,332,223.22 | 3,239.02 | |
| 96,087.08 | - | |
| £ 183,565.53 ( 28,387.23) |
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| 155,178.30 ( 59,091.22) |
||
| 96,087.08 |
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THE MAPLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
| 12 13 |
Charitable Donations Donations agreed at meeting 21/8/24 Whitlawburn Community Resource Centre Trauma Informed Parenting Light Up Learning Interest Link Borders The Glasgow Group of the riding for the disabled associat Kinross-shire Youth Enterprise The School Bank West Lothian Berwickshire Swap STCF Philanthropy Account Oxfam Donations agreed at meeting 24/8/23 Action Against Hunger (UK) Ltd Lothian Autistic Society t/a Branch Out Together Fetlor Youth Club Canine Concern Scotland Trust East Glasgow Music School Community One Stop Shop Escape Youth Services Children's Hospices Across Scotland Total donations paid during year Creditors Donations agreed at February 2024 meeting and paid post year end. |
2025 £ £ 10,000.00 1,000.00 2,500.00 1,000.00 2,500.00 1,000.00 2,500.00 10,000.00 1,000.00 1,000.00 32,500.00 1,500.00 1,000.00 2,000.00 2,000.00 2,500.00 10,000.00 10,000.00 2,500.00 31,500.00 64,000.00 2025 2024 £ £ - 3,000.00 |
2025 £ £ 10,000.00 1,000.00 2,500.00 1,000.00 2,500.00 1,000.00 2,500.00 10,000.00 1,000.00 1,000.00 32,500.00 1,500.00 1,000.00 2,000.00 2,000.00 2,500.00 10,000.00 10,000.00 2,500.00 31,500.00 64,000.00 2025 2024 £ £ - 3,000.00 |
|---|---|---|---|
| 1,500.00 1,000.00 2,000.00 2,000.00 2,500.00 10,000.00 10,000.00 2,500.00 |
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| 2025 £ - |
|||
| 64,000.00 | |||
| 2024 £ 3,000.00 |
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| Brodies LLP fees due (Note 9) | - 4,710.00 |
3,000.00 4,100.00 |
|
| 4,710.00 | 7,100.00 |
14 Guarantees and Commitments
There were no guarantees or commitments as at 5 April 2025, other than those included in Creditors (Note 13).
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