**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:**
## **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.
- In preparing accounts giving a true and fair view, the trustees should follow best practice and:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts;
- 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
1. which gives me reasonable cause to believe that in, any material respects the requirements:
- to keep accounting records in accordance with Section 41(1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations, and
- to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or
2. 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**
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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## **THE MAPLE TRUST**
## **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||
||1,217,401.60
1,209,449.47||
||389,152.04
529,933.05
(
345,608.95)
(
494,145.27)||
||43,543.09
35,787.78||
||**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)|
|||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||
|||**2025**
£
-||
||||64,000.00|
||||**2024**
£
3,000.00|
||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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