PEEBLES ABBEYFIELD CHARITABLE TRUST Scottish Charity Number SC026925 Peebles Abbeyfield Charitable Trust Scottish charity number SC026925 Report of the trustees Receipts and payment accounts And statement of balances For the year to and as at 31st December 2024 PEEBLES ABBEYFIELD CHARITABLE TRUST Scottish Charlty Number SC026925 PEEBLES ABBEYFIELD CHARITABLE TRUST Year ended 31st December 2024 CONTENTS Trustees, Report Pages 3-7 Receipts and Payments Page 8 statement of balances Page 8 Notes to the accounts Page 9-10 Examiner's Report Page 11 PEEBLES ABBEYFIELD CHARITABLE TRUST Scottlsh Charity Number SC026925 Report of the Trustees Address of the Principal Office Constructive documents: The Trust was created by a Trust Deed dated 5th July 1994 and registered in books of Council and Session on 4th August 1994. The Deed of Trust was amended by a Supplemental Deed dated 18th December 2009 and registered in the Books of Council and Session on 30th December 2009 PEEBLES ABBEYFIELD CHARITABLE TRUST Scottish Charity Number SC026925 Constitutional Structure: Grants are made entirely at the discretion of the Trustees. Objects: The purposes of the Trust are principally: l. To advance the education of young persons (those who have yet to attain the age of 25) in the District of Tweeddale by providing financial assistance by way of grants for the provision of vocational skills, travel costs and work experience 2, Financial assistance for the rellef of poverty of the elderly (those who have attalned the age of 60), also resident in Tweeddale, and the sick or infirm of any age within Tweeddale. Appointment of Trustees. The Trustees appointed under the Trust are the Lord/Lady Lieutenant of Tweeddale, the Secretary of the Rotary Club of Peebles { PEEBLES ABBEYFIELD CHARITABLE TRUST Scottlsh Charity Number SC026925 Main activities and achievements: retired and the new Lord Lieutenant, joined as a Trustee and became Chair of the Trust. There was an application for 2 young persons who were travelling with Guides to Norway. The aim of the trip was to foster international relations. They presented upon their return a video of their experiences. The Trust was able to support them with a contribution of £300. St Ronan's Primary School requested help to be able to allow a trip to see the Tapestry of Scotland in Galashiels. There was a shortfall of £135 and we were able support the full request. We received a report and evaluatlon of the successful trip Peebles High School requested support for 2 pupils to be able to come on the Battlefield trip to Northern France and Belgium. They requested £600 and we were able to fully grant the application. We were later informed that one of the intended participants did have to pull out but we left the grant as distributed. The report we received was a good reflectlon on the value for the young people who were able to participate in this trip. In February, Priorsford Primary School looked for a grant to allow young people to take part in the end of P7 year trip to Dalguise. This is an outdoor adventure trip which also functions as a conclusion for the young people of their time in Primary School. There was a significant short fall and after a discussion it was decided to support the school with the full sum requested of £1130. went to Malawi with Project Trust and applled for a grant to support her fundraising efforts to be able to go. Her work involved working with children and in youth development. Her total fundraising effort was to PEEBLES ABBEYFIELD CHARITABLE TRUST Scottish Charity Number SC026925 be £7,450 and at the time of the application she already had raised £3,166.75 and was planning more fundraising activities. She requested a grant of £400 but we were able to support her with a grant of £1,000. st Ronan's Silver Band was looking to again run the Band Camp in Innerleithen in July 2024. It is free to all participants and open to all young people in the Tweeddale area. We had informed the organising committee that our statute precludes recurring funding. However, a further request was made and although we decided not to donate the full requested amount, a donation of £400 was made In November 2024 we received an application from Kingsland Primary school to allow children to go to Dalguise. There had been some fundraising and there was a contribution of the parent council. Nonetheless there was a short fall of £390, which we were happy to donate Peebles High School requested a contribution for a couple of Ukranian refugees to allow them to travel with their year group to Barcelona. The aim of the trip was to sample another culture and to explore a vibrant city with a focus on the architecture. The request was for £1,200 and we were able to support that request. In December the local gymnastics club (PHD Fundamentals) was invited to travel to Paris with their demonstration team and acrobatics team. They had done substantial fundraising themselves. However, there was an issue with the equipment and outfits needed for the trip. They informed us they would re-use the equipment and the outfits and that this would be a one- off request. This club prides itself in making Gymnastics accessible to all children in the area and has a charitable component. Despite not completely within the realms of the charity, a decision was required urgently and we supported their endeavours with a grant of £1,000 (cheque presented had not yet been cashed at 31 December 2024). The reports received included both a written one as well as through social media and these showed the event had been a great success. PEEBLES ABBEYFIELD CHARITABLE TRUST Scottish Charity Number SC026925 The total amount distributed in 2024 was £6,155 (of which £1,000 has not been cashed at 31 December 2024), Reserves Policy: In view of the size of the charity, no pollcy has been agreed regarding the level of reserves to be held. The Trustees, decide on the income to be distributed after making provision for the cost of administration and professional services and any undistributed income at the year-end is accumulated and carries forward into the following year Financlal Position The accounts for the year demonstrate a deficit of -£387.41 (2023: surplus of £1,070.04), and the cash fundslreserves carried forward of £10,854.80 (2022: £11,242.2L), Donated Facilities/Services NONE Approved by the Trustees and signed on their behalf: 15 Date PEEBLES ABBEYFIELD CHARITABLE TRUST Scottish Charity Number SC026925 RECEIPTS AND PAYMENTS ACCOUNT YEAR TO 31 DECEMBER 2024 2024 2023 RECEIPTS Investments sold Investments Income Compensation Interest 22,515.67 4,445,32 57,228.84 4,740.73 250.00 84.51 62,304.08 123.61 27,084.60 PAYMENTS Investments made Charitable Disbursements Administrative Expenses 20,314.07 5,155.00 2 002.94 57,269.29 2,465.00 1,499.75 27 472.01 387.41 61 234.04 1 070.04 SurplusX(deficit) for the year STATEMENT OF BALANCES At 31 DECEMBER 2024 2024 2023 Bank and Cash Opening balance Surplusl(deficit) for the year Closing Balance 11,242.21 387.41 10 854.80 10,172.17 1 070.04 11 242.21 Closing Balance RBS Closing Balance Brewin Dolphin Capital Closing Balance Brewin Dolphin Income 7,890.30 1,989.12 975.38 10 854.80 8,825.24 1,340.51 1 076.46 11 242.21 Investments at cost 152 673.39 154 789.60 Investments at market value 171034.65 162 117.09 Estimated Liabilities 1 870.47 1 240.34 PEEBLES ABBEYFIELD CHARITABLE TRUST Scottish Charity Number SC026925 Peebles Abbeyfigld Charitable Trust Year to 31 December 2024 Notes to the Accounts 31 December 2024 Dividends Q to March 2024 Q to June 2024 o to September 2024 4Q 2024 1.233.17 1,041.28 1,195.49 975.38 4,445.32 Admin Expenses Brewin Dolphin January 2024 Brewin Dolphin April 2024 Brewin Dolphin to July 2024 Brewin Dolphin to October 2024 Braidwood Graham Fees 2023 Leaving Gift- 370.34 384.17 394.92 403.56 420.00 29.95 2,002.94 Income from Portfolio Sales January 2024 February 2024 Aprillmay 2024 JunelJuly 2024 October 2024 3,468.63 5,292.24 4,852.01 5,625.78 3,277.01 22,515.67 Expenditure on PortFolio Purchases January 2024 February 2024 April 2024 June 2024 October 2024 2,346.31 5,438.35 4,963.06 4,364.51 3.201.84 20,314.07 Disbursements: Nlne Awards Granted 5,155.00 Estlmated LiabS1ities Brewin Dolphin Quarter to December 2024 Braidwood Graham for 2024 Grant to PHD Fundamentals (not cashed) 410.47 460.00 1,000.00 1,870.47 PEEBLES ABBEYFIELD CHARITABLE TRUST Scottlsh Charity Number SC026925 Notes to the Accounts for the Year Ended 31 December 2024 I. PACT re-affirmed Brewin Dolphin as its broker and Braidwood Graham as its independent examiner throughout 2024 2. The Strategic Adjustments made to the portfolio were through the sale of 5 holdings and the purchase of 7 new holdings yielding an income of £22,516 and an investment purchase cost of £20,314. the year-end closing cash balance of £1,989.12 retained in the Portfolio Capital Account 3. The number of grants awarded by the Trust during the financial year was 9, amounting to £5,155 for 8, with one grant not cleared at the 31 December 2024 (a further £1,000) and show in the Accounts as Charitable Disbursements" 4. The Provision of the Trust permits the remuneration of professional service fees rendered to the Trustees. Fees for independent assessor and investment advice have been incurred. Date examined and approved, 13 //. Peebles Abbeyfield Charitsble Trust SC026925 Report of the Independent Examiner Independent Examlner's Report to the Trustee5 of Peebles Abbe)¢ield Ch#ritable Trust. I report on the accounts ofthe charity for the year end¢d 31 December 2024 which are Set out on pagGs 3 to l O. Respective responslbilities of the trustees and examiner The charity's trustees are responsiblc for the preparation of the accounts in accordance with the terms of the Charities and Trustec Investment {Scolland) Act 2005 iind the Charities Accounts (Scotland) Regulations 2006 as amended. The charily trustees consider that the audit requirement of Regulation 10(1) (d) of the 2006 Accounts Regulations docs not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of th¢ Act and to state whether particular matt¢TS have come to my attention. Basis of independent examiner's statemenl My examination is carried out in accordance with Regulation I l of the 2006 Charities Regulations. An examination includes a review of the accounting Tecords kept by the charity tmd a comparisorl of the accounts presented with thosc records. It also includes consideration of any unusual items or disclosurcs in Ihe accounls, and seeks explanations from the trusteeb concerning any such mallers. The procedures undertakeii do not provide all thc evidence that would be TQ(wired in an audil, and conbequenily I do not express all audit opinion on the view given by the accounts. IDdepeDdent exllminer's stY4tement In ihc course of my examination, no matter h&8 come to my attention which gives me reasonable cause to believe thal in any material respect the requirements: to kecp accounting records in accordanc¢ with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and io prepare accounts which accord with Ihe accounting records and comply with Regulations 9 of the 2006 Accounts Regulations have not been rnel, or to which, in my opinion. attention should be drawn in order to enable a pmper Ihe accouiits Iv be reaclied. Date: IO io.