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← Mrs H V U Goschens Charitable Trust

2025-10-31-accounts

Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

Charity Registration No. SC026950 (Scotland)

MRS H VU GOSCHEN CHARITABLE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

MRS H VU GOSCHEN CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

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|||||| |---|---|---|---|---| |Trustees|William Ruthven Gemmell| |Alec Dougal|Stewart| |Charity number|(Scotland)|5C026950| |Principal|address|c/o Murray|Beith Murray LLP| |3|Glenfinlas|Street| |Edinburgh| |EH3|6AQ| |Independent examiner|Ian Bilsland FCCA| |Drummond|Laurie| |Unit|5,|Gateway|Business|Park| |Beancross|Road| |Grangemouth| |FK3|8WX| |Bankers|Royal Bank|of Scotland| |36|St Andrew|Square| |Edinburgh| |EH2|2AD| |Solicitors|Murray Beith Murray LLP| |3|Glenfinlas|Street| |Edinburgh| |EH3|6AQ| |Investment|advisors|Rathbones|Investment Management|Ltd| |10|George|Street| |Edinburgh| |EH2|2PF|

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

MRS H VU GOSCHEN CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 OCTOBER 2025

The Trustees present their report and financial statements for the year ended 31 October 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Trust Deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended).

Objectives and activities

The Charity's objects are established in its Constitution, and these are; such charitable purposes as the Trustees may determine at their sole discretion.

To these ends, the Charity awards grants to eligible institutions ranging from £500 to £5,000 (exceptionally the Charity may award a greater sum). The grants are intended to help these institutions provide tangible benefits to such beneficiary groups as the Trustees may deem appropriate.

To sustain the Charity's activities, the Trustees maintain an endowment fund, the income from which is used to finance the Charity's grant-making activities.

Achievements and performance

In this reporting period, the Charity awarded grants totalling £9,000 to three institutions (2024: £6,000 to three institutions). The grants were awarded to finance such activities as those institutions receiving funds deemed appropriate.

Financial review

The financial statements, presented overleaf, show that the Charity's gross income, excluding funds released from the Endowment Fund, amounted to £10,635 in this reporting period (2024: £9,878). Investment income generated by the Endowment Fund amounted to £10,512 (2024: £9,670) and other sources of income together amounted to £123 (2024: £207).

Gross expenditure in Unrestricted Funds amounted to £10,718 (2024: £7,430).

The value of the Charity's Endowment Fund stood at £425,812 at the end of this reporting period (2024: £382,384).

Investment management costs chargeable to the Charity's Endowment Fund amounted to £3,803 in this reporting period (2024: £3,326). In addition, a proportion of the Charity's governance costs were attributable to the Endowment Fund,which this year amounted to £1,179 (2024: £1,136).

Reserves Policy

The Charity's reserves at the end of this reporting period stood at £6,914 (2024: £6,997). The Trustees generally seek to apply the whole free income of the Charity, making reasonable provision for professional fees and outlays where appropriate.

Investment Policy

The Trustees have instructed Investec Wealth & Investments UK Ltd a subsidiary of Rathbones Group to manage the Charity's investment funds on a discretionary basis. Rathbones Investment Management Limited acquired Investec Wealth & Investment UK Ltd on 21 September 2023 with full integration on 12 April 2025. The Trustees have advised that they are prepared to accept a medium level of risk. Investec Wealth & Investments UK Ltd are instructed to seek a balanced return between both capital growth and income.

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

MRS H VU GOSCHEN CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

Risk Management

The Trustees monitor the performance of each institution supported by the Charity. Where appropriate, the Charity may require institutions that receive grants to provide a copy of their Annual Report and Accounts to facilitate the consideration of support in future years.

The Trustees have considered the risks to which the Charity is exposed. These relate in the main to investment management and have been ameliorated by the employment of an investment manager. Another risk to which the Charity is exposed is fraud. However, the Trustees consider the low level of donations made by the Trustees reduces the risk. In addition, at least one of the Trustees will have some knowledge of any chosen charitable body to which a donation is made.

Plans for the Future

The Trustees plan to continue to award grants, provided sufficient funding remains available.

Structure, governance and management

The Charity is an unincorporated Trust constituted by Deed of Trust by Mrs Hilda Violet Ursula Goschen dated 7th August 1997 and registered in the Books of Council and Session on 14th August 1997.

The Trustees who served during the year and up to the date of signature of the financial statements were: William Ruthven Gemmell

Alec Dougal Stewart

Trustees are assumed (and resign) with the consent of the existing Trustees, under Section 3 of the Trust (Scotland) Act 1921.

The Trustees' report was approved by the Board of Trustees.

Signed by:

Alec Dougal Stewart

Trusteegy april 2026 Dated: occ

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

MRS H VU GOSCHEN CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MRS H V U GOSCHEN CHARITABLE TRUST

I report on the financial statements of the Charity for the year ended 31 October 2025, which are set out on pages 4 to 10.

Respective responsibilities of Trustees and examiner

The Charity’s Trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's Trustees consider that the audit requirement of Regulation 10(1)(d) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements 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 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 view given by the financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

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Signed by:
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069F43B16E3E432... Ian Bilsland FCCA

Drummond Laurie

Unit 5, Gateway Business Park Beancross Road

Grangemouth FK3 8WX

02 April 2026 Dated: occ

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-~~ 4F7 ~~6-~~ BD5 ~~5-~~ 115387B9B69C

MRS H V U GOSCHEN CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 OCTOBER 2025

Notes
Income from:
Investments
2		 Unrestricted Endowment
Total
Total
funds
funds
2025
2025
2025
2024
£
£
£
£
10,635.45
-
10,635.45
9,877.53
~~Expenditure on:~~
Raising funds
3		 -
3,803.14
3,803.14
3,325.98
Charitable activities
4		 10,718.75
-
10,718.75
7,429.95
Other
9		 -
1,198.75
1,198.75
1,135.96
Total resources expended 10,718.75
5,001.89
15,720.64
11,891.89
Net gains/(losses) oninvestments
10		 -
48,512.63
48,512.63
41,541.65
Netmovement in funds
Fund balances at 1 November 2024		 (83.30)
43,510.74
43,427.44
39,527.29
6,996.91
375,387.24
382,384.15
342,856.86
Fundbalancesat31October2025 6,913.61
418,897.98
425,811.59
382,384.15

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-~~ 4F7 ~~6-~~ BD5 ~~5-~~ 115387B9B69C

MRS H V U GOSCHEN CHARITABLE TRUST

BALANCE SHEET

AS AT 31 OCTOBER 2025

Notes
Fixed assets
Investments
11
Current assets
Cash atbankand inhand		 2025
£
4,443.30		 £
421,368.29		 £
7,917.73		 2024 £
374,466.42
Net current assets 4,443.30 7,917.73
Total assets less current liabilities 425,811.59 382,384.15
Capital funds
Endowment funds - general
Income funds
Unrestricted funds		 418,897.98
6,913.61		 375,387.24
6,996.91
425,811.59 382,384.15

O1 April 2026 The financial statements were approved by the Trustees onuu... cee c FAEZ37CAGAEAABE...Signed by: Alec Dougal Stewart Trustee

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

MRS H VU GOSCHEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1 Accounting policies

The financial statements are prepared in sterling, which is the functional currency of the Charity.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4 Incoming resources

Investment Income is included in the Account in the year in which it is received.

1.5 Resources expended

Expenditure is recognised in full in the year in which it is paid.

2 Investments

Income from listed investments
Interest receivable		 Unrestricted
Total
funds
2025
2024.
£
£
10,512.11
9,670.32
123.34
207.21
10,635.45
9,877.53

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

MRS H VU GOSCHEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

6
Support costs
Murray BeithMurray TrustAdministration Fees
Drummond Laurie Fees		 Support costs Governance
2025
2024
costs
£
£
£
£
1,178.75
-
1,178.75
1,135.95
-
540.00
540.00
294.00
1,178.75
540.00
1,718.75
1,429.95
Analysed between
Charitableactivities		 1,178.75
540.00
1,718.75
1,429.95

Governance costs includes payments to the examiners of £540 (2024 - £294) for examination fees.

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

8 Employees

There were no employees during the year.

9 Other

Murray BeithMurray Administration Fees
Other Outlays		 Endowment
Total
funds
general
2025
2024
£
£
1,178.75
1,135.96
20.00
-
1,198.75
1,135.96

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

MRS H V U GOSCHEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

10 Net gains/(losses) on investments

Revaluation of investments
Gain/(loss) on sale ofinvestments		 Endowment
funds
general
2025
£
48,737.16
(224.53)		 Total
2024
£
40,523.65
1,018.00
48,512.63 41,541.65
11
‘Fixed asset investments
Cost orvaluation
At 1 November 2024
Additions
Realised Gain/(Loss)
Unrealised Gain/(Loss)
Disposals
At 31 October 2025
Carrying amount
At 31 October 2025
At 31 October 2024
Investments greaterthan5% of portfolio comprised:
Loomis SaylesUS Equity Leaders
Temple Bar InvestmentTrust		 2025
£
39,865.00
23,031.00		 Listed
investments
£
374,466.42
27,185.71
(224.53)
48,737.16
(28,796.47)
421,368.29
421,368.29
374,466.42
2024
£
32,690.00
-
62,896.00 32,690.00

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Docusign Envelope ID: 84DC951B ~~-C~~ 965 ~~-4~~ F76 ~~-B~~ D55 ~~-1~~ 15387B9B69C

MRS H VU GOSCHEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

12 Analysis of net assets between funds

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|||||||| |---|---|---|---|---|---|---| |Unrestricted|Endowment|Total|Total| |Funds|Funds| |2025|2025|2025|2024| |£|£|£|£| |Fund|balances|at|31|October|2025|are| |represented|by:| |Investments|-|421,368.29|421,368.29|375,387.24| |Current|assets/(liabilities)|6,913.61|(2,470.31)|4,443.30|6,996.91| |6,913.61|418,897.98|425,811.59|382,384.15|

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13. Related party transactions

Alec Dougal Stewart is a Trustee and a Member of Murray Beith Murray LLP, whom the Charity has engaged to perform legal, general, account preparation, and other services.

Ruthven Gemmell is a Trustee and was a Consultant of Murray Beith Murray LLP until his retirement on 31 January 2025, whom the Charity has engaged as legal agents.

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||||| |---|---|---|---| |2025|2024| |£|£| |Total|Remuneration|2,357.00|2,272.00|

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