**Scottish Charity Number SC028090** ## **ISABELLA LOW ALEXANDER EDUCATION TRUST** **TRUSTEES’ REPORT AND ACCOUNTS** **FOR THE YEAR ENDED 5 APRIL 2025** ISABELLA LOW ALEXANDER EDUCATION TRUST CHARrrY INFORMATION Tru•t•e• PaL4 G Trojden J*) G Dav Scottish ch*rfty numb•r Addr• PERTH PH1 SPE Ind•wnd•nl •xamln•r iawnsa M At)￿￿ FCCA TCGr 4 Abart Ha PERTH PH2 PaE 8oll¢ltor4 Mccath & Hunt¢r PERTh PHI SPE **ISABELLA LOW ALEXANDER EDUCATION TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees’ report|1 - 2| |Independent examiner’s report|3| |Receipts and payments account|4| |Statement of balances|5| |Notes to the accounts|6| ISABELLA LOW ALEXANDER EDUCATION TRUST TRUSTEES. REPORT FOR YEAR ENDED 5 APRIL 2025 ¥¢¢ounts cA)Mp￿ wth th8 thanvs gov•rnng aTrJ Statthnènl ofR8commeThled Pr￿* (Accojntiro and Reporttng by Charit￿) {rewsed 2LW. Stru¢tur•, Govemance and manag￿nent The trust an urwrKorpry3ted organisation and is adm￿L￿teRj by the trLths in ac(>Jdm ¥￿th its trust dged. fv trust is recognis&J by HM Rwefi￿ & Customs as 8 th8nty. Thè Scottish tharity number is Ilsted C￿ the Charity Infcrniation page. The trustees are P•Jl G¥ard Trcthen. and Ajan Graham Dawe8. NvwTnJstee8 may b¢¥ppcAnled by ts Exi4try Truslees. Npitsofthe twstees has ￿ bonefio.al interest in the Iwst r￿18￿e, and The sysiwns of intwnal o)nird we des￿e￿ to wov4Je reasonaLqe tmjl not ab501ute aSsWa￿ agar*l material misststema)t ￿ bss. They ithe regular (xwdw81I￿ offinwi4 Invests￿￿1t reslohs. obj￿ and Activitie¥ The obj'ectives and principal ac*wbes ofthetrust ￿t0 offerfin*Ki8t SUPFrflo any perscffi enteringtertiary ethjCats'c￿ wlK* h88 ccKnplebJ of their primary ￿ sect￿dary e¢knation al a sdwj within Perthshire. Thetrustees meetonareJularb¥Isto￿nsx1er8ftd 8pprts¥oaw8r¢JS¥￿j to mawetheaffatrs of the trust. The trustees anlwipate ￿ Siwif￿ to the way li the ch¥lty be organised aThJ run in A summary ofthe reSLths forthe yew and the fmarKial positKJl 8t 5 hyil 2ry251$ given In pages 4 to 6. A¢hlovwn•nts TOeng￿k￿er intwest in thetnJs( alls￿ sdb* in Perths￿•¥1 Perth Cc41egeofFtwther Educatic have been adws8d ofthe existeJKe ofthe In￿1 and its aims and ct1j￿kneS. This has re$￿ted in 8 numb olap￿￿ti￿ to Ihe trLL8L R8$8rv8s polley The r&serves pclry to attemFrt to (kbitxrte th8 4tiV81** of a ftdl yearfs surF4LL8 so that Ihe c4pital is avai18ble to F)rwde irwme for fijture t￿￿le& the curent year, ￿ wll be made from Ihe cash reserves hdd ty Mccash & HLts LLP. Thts alkaw fc* fLWth8r grcA¥th of the investments manage11 C￿ behalf of Ihe Trust by Evdyn Path￿8 Disryeiorwy Jnveslment Manag￿ent Ltd Iform*ty rdney Dis¢Xeb￿0ry Putrdio Management Limit￿¥. The trustees have rew1¥ discaJsSi￿ and meeting5 ¥￿th the invesbnent man4&s to revi￿ investrnent strategy. Takw>g into acLxJunl the fatr v8bJe sh¢ on page 5. the tFustees are conhlentlhat sulki￿1 caprtal is b*"wwJ nwintsM*d in the W temi. ISABELLA LOW ALEXANDER EDUCATION TRUST TRUSTEES. REPORT CONTINUED FOR YEAR ENDED 5 APRIL 2025 St¥fflny The truste8s have appointed Mccash & Hunteras secretarfes and Ireasurersto the trust. Members ofthat fimi a￿ di￿¢¥Y involved in administrative matters relating to the trust bul for each ol them the seNces canducted forthe trust represent only a part ol their work. Mr Davies was previously a partner in Mccash & Hunter LLP, which is paid for its as Secretaries and Tieaswers. These seNw were not lor legal ￿ accountsncy 8¢fvI¢e. an G Davies. Trustee ## **ISABELLA LOW ALEXANDER EDUCATION TRUST** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ISABELLA LOW ALEXANDER EDUCATION TRUST** I report on the accounts of the trust for the year ended 5 April 2025 which are set out on pages 4 to 6. This report is made solely to the charity’s trustees, as a body, in accordance with regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). My independent examination has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examination and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for my independent examination, for this report, or for the opinions I have formed. ## **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) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity 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 accounts as required under Section 44(1)(c) of the 2005 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 Regulations. 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 view given by the accounts. ## **Independent examiner’s statement** In the course of my examination, no matter has come to my attention 1. which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with Section 44(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. ## **Klarrisa M Robertson, FCCA Member of the Association of Chartered Certified Accountants** **TC Group** 4 Albert Place PERTH PH2 8JE Date: 15/05/26 - 3 - **ISABELLA LOW ALEXANDER EDUCATION TRUST** ## **RECEIPTS AND PAYMENTS ACCOUNT** _**FOR THE YEAR ENDED 5 APRIL 2025**_ |**Note**
**Receipts**
Income from investments
Proceeds from sale of investments
**Payments**
Grants and donations
2
Other direct charitable expenditure:
Secretaries’/Treasurers’ fees
Insufficient postage
Expenditure on raising funds:
Investment manager fees
Governance costs:
Independent examiner’s fees: independent examination
Law accountant’s fee
Purchase of investments


**Surplus/(deficit) for year**|**2025**
**£**
287
20,928
21,215
16,500
1,920
5
928
906

-
3,759
-
20,259
956|**2024**
**£**
365
-
365
14,250
3,840
-
-
1,740
-
1,740
-
19,830
(19,465)| |---|---|---| - 4 - ISABELLA LOW ALEXANDER EDUCATION TRUST STATEMENT OF BALANCES AS A T5APRIL 2025 2025 2024 Gonaral Fund (all unie8trictedl C8$h and bank balan￿ at start ofyeor surplus11defi￿) for year Cash and bank bal&nce8 at end ofyear 13,898 956 33,363 Mov•m•nt• In In¥￿IM•nt* Co8t At start of yoar Addttions Dlspo$o18 Al end ofyèar 181,80) 182.474 Thè 181r vglue ol investment8 8t Sth Aprl 2025 w•8 as fdlowa (all list•d so￿￿￿*81.. Dèbtorn IKom¢ tax recoverable Llabllltl Acc¥ual8 an G D8vles. Trusieg D8ts'. 1 ## **ISABELLA LOW ALEXANDER EDUCATION TRUST** ## **NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 5 APRIL 2025**_ ## **1. Accounting principles** The accounts have been prepared on a receipts and payments basis and comply with The Charities Accounts (Scotland) Regulations 2006. |||**2025**|**2024**| |---|---|---|---| |**2.**|**Grants and donations (all paid to individuals**||| ||**In support of tertiary education)**||| |||**No**|**No**| ||Total number of bursaries paid|22|19| ## **3. Trustees’ expenses** The trustees received no remuneration as such. Fees for services as secretaries and treasurers to the trust were paid to McCash & Hunter, in which firm Alan G Davies, trustee, was a partner until December 2024, as follows: |Paid in year|**2025**
**£**
1,920|**2024**
**£**
3,840| |---|---|---| - 6 -