APPENDIX 1
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| || Day Period_ MonthstartdateYear | Day PeriodMonthend dateYear
From | 06 04 2024 To 05 04 2025
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Office of the Scottish Charity Regulator
Charity name Scott Waudby Charitable Trust Other names charity is known by Registered charity number $C024557 —— ee
Names of the charity trustees on date of approval of Trustees’ Annual Report
Trustee name Office (if any) pater ecteri!on appoint(or body)trustee entitled(if any)to =— — ——_— ; 7 8 | 9 10 11 12 13 14 15 16 17 18 | 19 | 20
1
APPENDIX 1
Reference and administration details
Names of all other charity trustees during the period, if any, (for example, those who resigned part way through the financial period)
| Structure, governance and management | Structure, governance and management | ||
|---|---|---|---|
| Typeofgoverningdocument | Trust Deed | ||
| Trusteerecruitmentandappointment _—_Serving Trusteesareappointed as required taking intoaccount their skills ' and knowledge. |
|||
| Objectives and activities | |||
| Charitablepurposes | "The Trust purposes arethecreation ofa HaematologicalResearch Institutewithin The University of Leicester, said institute tobeknownas |
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| “The Ernestand Helen Scott Haematological Research Institute”andone | |||
| ormorefiveyearResearch Fellowships in thefieldsofa) Molecular | |||
| - Haemopolesis including aplasticanaemia and b) Experimental | |||
| Therapeutics including stem cell transplantation. Each ofthese |
|||
| fellowships will be known as “The Ernestand Helen Scott Haematological | |||
| Research Fellowship”. | |||
| Summaryofthemain activities in relationtotheseobjects |
"DuringtheyearIncome from Investmentstotalled £95,764 for use in our _ charitable activities. Brewin Dolphin actasInvestmentManagers in |
respect ofthe share portfolioandthe return ofinvestments is in | |
| accordancewiththebenchmarksagreedwiththeTrusteesandthem. | |||
2
APPENDIX 1
| Achievements and performance | Achievements and performance | |
|---|---|---|
| Summaryofthemain achievementsof thecharity during thefinancial period |
£90,000wasdonatedtoaidtheresearch at“TheErnestandHelen Scott © Haematological Research Institute” during the financial period. |
|
| Briefstatementof thecharity’spolicy on reserves |
Asthecharityhasnorecurring expenditureon an annual basis theBoard_ ofTrustees consider the current level ofreserves to be sufficient. |
|
| Detailsofanydeficit | None OS |
|
| Donated facilitiesand services (if any) | None | |
| i | ||
| H |
3
APPENDIX 1
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The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees 7 4
Signature(s) |
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Full name(s)
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Position (e.g. Chair) | Trustee
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4
REGISTERED CHARITY NUMBER: SCO24557
Report of theTrustees and
AuditedFinancial Statements for the Year Ended 5 April 2025
for
Scott Waudby Charitable Trust
McLay McAlister & McGibbon LLP Chartered Accountants and Statutory Auditors 145 St Vincent Street Glasgow G2 5IF
Scott Waudby Charitable Trust
Contents ofthe Financial Statements for the Year Ended 5April2025
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Page
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Report of the Trustees
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Report of the Independent Auditors Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
Detailed Statement of Financial Activities
1 to 3 4 to 6 7 8 9 to 15 16
Scott Waudby 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 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Trust purposes are the creation of a Haematological Research Institute within The University of Leicester, said institute to be known as "The Emest and Helen Scott Haematological Research Institute" and one or more five year Research Fellowships in the fields of a) Molecular Haemopolesis including aplastic anaemia and b) Experimental Therapeutics including stem cell transplantation. Each of these Fellowships will be known as “The Ernest and Helen Scott Haematological Research Fellowship". On the creation of the aforementioned Institute and Fellowships the latter would be nationally advertised and a Trustee or Trustees of the aforementioned Trust would be present at the selection committee and have full voting rights.
FINANCIAL REVIEW
Reserves policy
As the charity has no recurring expenditure on an annual basis the Board of Trustees consider the current level of reserves to be sufficient.
Risks
The trustees consider variability of investment returns to constitute the charity's major financial risk. This is mitigated by retaining expert investinent managers and having a diversified portfolio.
Financial review
The Unrestricted Income Fund at the beginning of the year amounted to £113,130 to which was added receipts of £95,764 and from which was deducted payments of £100,500, including charitable donations of £90,000, leaving a balance of £108,394 carried forward.
The Unrestricted Expendable Endowment Fund at the beginning of the year amounted to £4,032,783 from which was deducted payments of £45,081 and a loss on investments of £163,109, leaving a balance of £3,824,593
As of 30 June 2025 the market value of the Trusts investments was £4,077,917.
Investment policy and objectives
The Trustees have the power to invest in securities by the Charities and Trustee Investment (Scotland) Act 2005 and as set out in the constitution. The investment policy, which is reviewed by the Trustees from time to time is aimed at maintaining the real value of the Trust funds over a period ofyears and thereby providing a reasonable level of income for charitable donations.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Trust is a registered charity, number SCO24557 and is constituted under a Trust Deed dated 11 August 1994.
Recruitment and appointment of new trustees
Serving trustees are appointed as required, taking into account their skills and knowledge.
Induction and training of new trustees
Generally trustees are familiar with the work of the charity prior to their appoimtment. Training is provided where required.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
Scott Waudby Charitable Trust
Report of the Trustees for the Year Ended5 April 2025 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number S8CO24557
Principal address c/o Miller Beckett & Jackson Ltd 190 St Vincent Street Glasgow G2 5SP
Auditors McLay McAlister & McGibbon LLP Chartered Accountants and Statutory Auditors 145 St Vincent Street Glasgow G2 5JF
Factors & legal advisers
Miller Beckett & Jackson Ltd 190 St Vincent Street Glasgow G2 SSP
Investment advisers Brewin Dolphin Ltd 48 St Vincent Street Glasgow G2 5TS
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under charity law the trustees must not approve the financial statements unless they are satisfied that they 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 period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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- make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Page 2
Scott Waudby Charitable Trust
Reportfor the Yearof the Ended Trustees_5 April 2025
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and 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.
Approved by order ofthe boardoftrustees on ro OV: 22
and signed on its behalf by:
Page 3
Report of the Independent Auditors to the Trustees of Scott Waudby Charitable Trust
Opinion
We have audited the financial statements of Scott Waudby 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’.
In our opinion the financial statements:
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give a true 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 ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’; and
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- have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006.
Basis for opinion
We conducted our audit in accordance’ with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities 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 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 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 concern 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 concern 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.
Tn 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 appears to be materially misstated. If we identify such material inconsistencies or apparent material 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 material misstatement of this other information, 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 if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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proper accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Page 4
Report of theIndependent Auditors to the Trustees of Scott Waudby. Charitable Trust
Responsibilities of trustees
As explained more fully in the Statement of Trustees’ Responsibilities, the trustees are responsible for the preparation of the financial statements which 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 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 to going 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 so.
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 due to fraud or error, and to issue 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 material 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:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
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the nature of the charity and it's control environment;
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results of our enquiries of the Trustees about their own identification and assessment of the risks and irregularities; - any matters we identified having reviewed the charity's internal controls established to mitigate risks of fraud or noncompliance with laws and regulations; ~ the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
We obtained an understanding of the legal and regulatory framework that the charity operates in. The key laws and regulations we considered included the Charity SORP and the Scottish Charities regulations . We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Auditing standards limit the required audit procedures to identify non - compliance with these laws and regulations to enquiry of the trustees, inspection of regulatory and legal correspondence and review of minutes of meetings. These limited procedures did not identify actual or suspected non-compliance.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 5
Report of the Independent Auditors to the Trustees of_ Scott Waudby Charitable Trust
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 extent permitted by law, we do not accept or assume responsibility 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.
McLay McAlister McGibbon LLP Chartered Accountants and Statutory Auditors 145 St Vincent Street Glasgow G2 SIF Date: bal 42G....
Page 6
ScottWaudby Charitable Trust
Statement of Financial Activities| for the Year Ended 5 April 2025
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|---|---|---|---|---|---|---|
|5.4.25|5.4.24|
|Unrestricted|
|Unrestricted|Expendable|
|Income|Endowment|Total|Total|
|Fund|Fund|funds|funds|
|Notes|£|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Investment|income|2|95,764|-|95,764|90,630|
|EXPENDITURE|ON|
|Raising funds|3|-|25,662|25,662|23,748|
|Charitable|activities|4|
|Support Costs|10,500|19,419|29,919|28,306|
|Grants|to|institutions|90,000|-|90,000|100,000|
|Total|100,500|45,081|145,581|152,054|
|Net|gains/(losses) on investments|-|(163,109)|(163,109)|286,067|
|NET INCOME/EXPENDITURE)|(4,736)|(208,190)|(212,926)|224,643|
|RECONCILIATION OF FUNDS|
|Total funds brought|forward|113,130|4,032,783|4,145,913|3,921,270|
|TOTAL FUNDS CARRIED FORWARD|108,394|3,824,593|3,932,987|4,145,913|
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CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 7
Scott Waudby Charitable Trust
Balance Sheet. 5 April 2025
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|---|---|---|---|---|---|---|---|---|
|5.4.25|5.4.24|
|Unrestricted|
|Unrestricted|Expendable|
|Income|Endowment|Total|Total|
|Fund|Fund|funds|funds|
|Notes|£|£|£|£|
|FIXED ASSETS|
|Investments|
|Investments|9|-|3,736,244|3,736,244|3,935,072|
|Investment|property|10|-|158,000|158,000|158,000|
|-|3,894,244|3,894,244|4,093,072|
|CURRENT|ASSETS|
|Debtors|IL|5,049|-|5,049|5,955|
|Cash|at|bank|and|in hand|113,725|(44,476)|69,249|78,871|
|118,774|(44,476)|74,298|84,826|
|CREDITORS|
|Amounts|falling|due within one year|12|(10,380)|(25,175)|(35,555)|(31,985)|
|NET CURRENT ASSETS|108,394|(69,651)|38,743|52,841|
|TOTAL ASSETS|LESS CURRENT LIABILITIES|108,394|3,824,593|3,932,987|4,145,913|
|NET|ASSETS|108,394|3,824,593|3,932,987|4,145,913|
|FUNDS|13|
|Unrestricted|funds:|
|Unrestricted|Income Fund|108,394|113,130|
|Unrestricted|Expendable Endowment Fund|3,824,593|4,032,783|
|3,932,987|4,145,913|
|TOTAL FUNDS|3,932,987|4,145,913|
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The financial statements were approved by the Board of Trustees and authorised for issue on Oo 01: 2026 and were signed on its behalf by:
The notes form part of these financial statements
Page 8
Notes to the Financial Statements. for the Year Ended 5 April 2025
Scott Waudby CharitableTrust
- ACCOUNTING POLICIES
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 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland’ 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.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’:
- the requirements of Section 7 Statement of Cash Flows.
Income 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.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits 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 costs 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.
Allocation and apportionment of costs
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.
Taxation The charity is exempt from tax on its charitable activities.
Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publically traded or their fair value can otherwise be measured reliably.
Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.
Investment properties are recognised initially at fair value, which is the valuation upon the transfer of ownership to the Trust. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments! in the SoFA. Revaluations will be conducted as and when thought necessary by the trustees.
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Scott Waudby Charitable Trust
Notes totheFinancial Statements - continued for the Year Ended5 April 2025
| 2. | INVESTMENTINCOME | |||
|---|---|---|---|---|
| 5.4.25 | 5.4.24 | |||
| £ | £ | |||
| Dividends and fixed interest | 95,588 | 90,499 | ||
| Deposit account interest | 176 | 131 | ||
| 95,764 | 90,630 | |||
| 3. | RAISING FUNDS | |||
| Investmentmanagement costs | ||||
| 5.4.25 | 5.4.24 | |||
| £ | £ | |||
| Portfoliomanagement | 25,662 | 23,748 | ||
| 4, | CHARITABLEACTIVITIES COSTS | |||
| Grant | ||||
| fundingof | ||||
| activities | Support | |||
| (seenote | costs (see | |||
| 5) | note 6) | Totals | ||
| £ | £ | £ | ||
| SupportCosts Grants to institutions |
- 90,000 |
29,919 - |
29,919 90,000 |
|
| 90,000 | 29,919 | 119,919 | ||
| 5. | GRANTSPAYABLE | |||
| 5.4.25 | 5.4.24 | |||
| £ | £ | |||
| Grantstoinstitutions | 90,000 | 100,000 |
The Trust paid £90,000 (2024: £100,000) to the University of Leicester in order to support the research being done by ‘The Ernest and Helen Scott Haematological Research Institute’.
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:
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ScottWaudbyCharitable Trust
Notesto the Financial Statements - continued forthe Year Ended 5April 2025
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|---|---|---|---|---|
|6.|SUPPORT|COSTS|
|Governance|
|Management|Other|costs|Totals|
|£|£|£|£|
|Support Costs|28,556|473|890|29,919|
|Support costs, included|in the above,|are as follows:|5.4.25|5.4.24|
|Support|Total|
|Costs|activities|
|£|£|
|Auditors remuneration|3,540|3,300|
|Factors|fees|25,016|22,590|
|Insurance|473|459|
|Accountancy and legal fees|890|1,957|
|29,919|28,306|
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- 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.
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|---|---|---|---|---|---|
|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|Unrestricted|
|Unrestricted|Expendable|
|Income|Endowment|Total|
|Fund|Fund|funds|
|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Investment income|90,630|-|90,630|
|EXPENDITURE ON|
|Raising funds|-|23,748|23,748|
|Charitable activities|
|Support Costs|9,720|18,586|28,306|
|Grants|to|institutions|100,000|-|100,000|
|Total|109,720|42,334|152,054|
|Net gains on investments|-|286,067|286,067|
|NET INCOME/EXPENDITURE)|(19,090)|243,733|224,643|
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Scott Waudby Charitable Trust
Notes to the Financial Statements - continued for the Year Ended5April 2025
| 8. | COMPARATIVESFOR THESTATEMENTOFFINANCIALACTIVITIES- continuedUnrestricted | COMPARATIVESFOR THESTATEMENTOFFINANCIALACTIVITIES- continuedUnrestricted | COMPARATIVESFOR THESTATEMENTOFFINANCIALACTIVITIES- continuedUnrestricted | |
|---|---|---|---|---|
| Unrestricted Income |
Expendable Endowment |
Total | ||
| Fund | Fund | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OFFUNDS | ||||
| Totalfunds broughtforward | 132,220 | 3,789,050 | 3,921,270 | |
| TOTALFUNDSCARRIEDFORWARD | 113,130 | 4,032,783 | 4,145,913 | |
| 9, | FIXEDASSETINVESTMENTS | |||
| Listed | ||||
| investments | ||||
| £ | ||||
| MARKETVALUE | ||||
| At6 April2024 | 3,935,072 | |||
| Additions Disposals Revaluations |
1,316,390 (1,352,109) (163,109) |
|||
| At5 April 2025 | 3,736,244 | |||
| NETBOOKVALUE | ||||
| At5 April2025 | 3,736,244 | |||
| At5April2024 | 3,935,072 |
The investments of the charity are recognised on the UK, European, American and Asian stock exchanges. The historical cost of the portfolio at 5 April 2025 is £3,691,632 (2024: £3,495,091).
| Costorvaluation at | 5 April 2025 isrepresented by: | |
|---|---|---|
| Listed | ||
| investments | ||
| £ | ||
| Valuationin2025 | 3,736,244 |
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:
Scott Waudby Charitable Trust
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|---|---|---|---|---|---|---|
|Notes|to|the Financial|Statements-continued.|
|for|the|Year|Ended|5|April 2025|
|10.|INVESTMENT PROPERTY|
|£|
|FAIR VALUE|
|At|6|April|2024|
|and|5|April|2025|158,000|
|NET BOOK VALUE|
|At|5|April 2025|158,000|
|At 5|April 2024|158,000|
|Fair value|at|5|April|2025|is represented|by:|
|£|
|Valuation|in 2021|60,000|
|Valuation|in 2023|13,000|
|Cost|85,000|
|158,000|
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The property was professionally valued in September 2023 by Wells McFarlane Chartered Surveyors and Property Consultants at a value of £158,000. The Trustees believe this value is appropriate as at 5 April 2025.
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|---|---|---|---|---|
|11.|DEBTORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR|
|5.4.25|5.4.24|
|£|£|
|Prepayments|and accrued income|5,049|5,955|
|12.|CREDITORS: AMOUNTS FALLING|DUE|WITHIN ONE YEAR|
|5.4.25|5.4.24|
|£|£|
|Other|creditors|35,555|31,985|
|13.|MOVEMENT|IN FUNDS|
|Net|
|movement|At|
|At|6.4.24|in|funds|5.4.25|
|£|£|£|
|Unrestricted|funds|
|Unrestricted Income Fund|113,130|(4,736)|108,394|
|Unrestricted Expendable Endowment Fund|4,032,783|(208,190)|3,824,593|
|4,145,913|(212,926)|3,932,987|
|TOTAL FUNDS|4,145,913|(212,926)|3,932,987|
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continued...
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:
Scott Waudby Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
- MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|Unrestricted Income Fund|95,764|(100,500)|-|(4,736)|
|Unrestricted Expendable Endowment Fund|-|(45,081)|(163,109)|(208,190)|
|95,764|(145,581)|(163,109)|(212,926)|
|TOTAL FUNDS|95,764|(145,581)|(163,109)|(212,926)|
|Comparatives|for movement|in|funds|
|Net|
|movement|At|
|At|6.4.23|in|funds|5.4.24|
|£|£|£|
|Unrestricted|funds|
|Unrestricted|Income Fund|132,220|(19,090)|113,130|
|Unrestricted Expendable Endowment Fund|3,789,050|243,733|4,032,783|
|3,921,270|224,643|4,145,913|
|TOTAL FUNDS|3,921,270|224,643|4,145,913|
|Comparative net movement in|funds,|included|in the above|are|as follows:|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|Unrestricted|Income Fund|90,630|(109,720)|-|(19,090)|
|Unrestricted|Expendable Endowment Fund|-|(42,334)|286,067|243,733|
|90,630|(152,054)|286,067|224,643|
|TOTAL FUNDS|90,630|(152,054)|286,067|224,643|
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continued...
Scott Waudby Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
13. MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined position is as follows:
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----- Start of picture text -----
||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|6.4.23|in|funds|5.4.25|
|£|£|£|
|Unrestricted|funds|
|Unrestricted|Income Fund|132,220|(23,826)|108,394|
|Unrestricted|Expendable Endowment Fund|3,789,050|35,543|3,824,593|
|3,921,270|11,717|3,932,987|
|TOTAL FUNDS|3,921,270|11,717|3,932,987|
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|Unrestricted|Income|Fund|186,394|(210,220)|-|(23,826)|
|Unrestricted|Expendable Endowment|Fund|-|(87,415)|122,958|35,543|
|186,394|(297,635|)|122,958|11,717|
|TOTAL FUNDS|186,394|(297,635|)|122,958|11,717|
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- RELATED PARTY DISCLOSURES ae...uring the year the firm charg: 1704 (2024: £22,590)10.10.24) ofare factorial directorsfeesandto shareholdersthe trust. of Miller Beckett & Jackson Ltd.
15. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
Page 15
Scott Waudby Charitable Trust
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||||||||
|---|---|---|---|---|---|---|
|Detailed|Statement|ofFinancial|Activities.|
|forthe Year Ended|5|April 2025|
|5.4.25|5.4.24|
|£|£|
|INCOME AND ENDOWMENTS|
|Investment|income|
|Dividends and|fixed|interest|95,588|90,499|
|Deposit account|interest|176|131|
|95,764|90,630|
|Total incoming|resources|95,764|90,630|
|EXPENDITURE|
|Investment management|costs|
|Portfolio|management|25,662|23,748|
|Charitable|activities|
|Grants|to|institutions|90,000|100,000|
|Support|costs|
|Management|
|Auditors|remuneration|3,540|3,300|
|Factors|fees|25,016|22,590|
|28,556|25,890|
|Other|
|Insurance|473|459|
|Governance|costs|
|Accountancy|and|legal|fees|890|1,957|
|Total resources|expended|145,581|152,054|
|Net expenditure before gains and|losses|(49,817)|(61,424)|
|Realised|recognised|gains|and|losses|
|Realised|gains/(losses) on|fixed|asset|investinents|(163,109)|286,067|
|Net (expenditure)/income|(212,926)|224,643|
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This page does not form part of the statutory financial statements
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