WENDY SHAW'S CHARITABLE TRUST SCOTTISH CHARITY NO: SC029192
HMRC REF: CR48431
TRUST ACCOUNT FOR THE YEAR TO 5 APRIL 2025
INTRODUCTION Will of the late Wendy Shaw, dated 1 October 1998 and recorded in the Books of Council and Session on 8 February 1999, TRUST DEED Deed of Assumption and Conveyance, dated 21 and 25 May 1999 and recorded in the Books of Council and Session on 27 May 1999. Deed of Assumption and Conveyance, dated 5 March 2001 and recorded in the Books of Council and Session on 12 March 2001.
Deed of Assumption and Conveyance, dated 24 June 2009 and recorded in the Books of Council and Session on 29 June 2009.
CURRENT TRUSTEES[i care of Irving Geddes WS, 25 West High Street, Crieff, Perthshire, PH7 4AU (Please note thatMEcsigned as Trustee on 26th September 2017) BENEFICIARIES Barnardo's Scottish Registered Charity No: $C037605 Barnardo Hause, Tanners Lane, Barkingside, Essex, 166 10QG
The Cancer Research Campaign UK Scotland Registered Charity No: 1089464 Federation House, 22? Queensferry Road, Edinburgh, EH14 2BP
The Church of Scotland General Trustees
Scottish Registered Charity Number SC014574 121 George Street, Edinburgh, EH2 4YR Federation House, 222 Queensferry Road, Edinburgh, EH14 2BP
PROFESSIONAL Investment Managers ADVISERS Rathbones George House 50 George Square Glasgow G2 1EH Telephone No: 0141 248 4311
Solicitors
Messrs Irving Geddes WS Solicitors 25 West High Street Crieff
Perthshire PH7 4AU
Telephone No: 01764 653771
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WENDY SHAW'S CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT YEAR TO 5 APRIL 2025
Charity Name and Number Wendy Shaw's Charitable Trust Scottish Charity Number $C029192
Principal Address c/o Irving Geddes WS 25 West High Street Crieff PH? 4AU
Current Trustees
care of Irving Geddes WS,25 West High Street, Perthshire, PH7 4AU
Governing Document
The Trust is an unincorporated Trust constituted by the Will of the late Wendy Shaw, dated 1 October 1998 and recorded in the Books of Council and Session on 8 February 1999. Deeds of Assumption and Conveyance, | dated (a) 21 and 25 May and recorded in the Books of Council and Session on 27 May all in 1999; (b) dated 5 March and recorded in the Books of Council and Session on 12 March, both in 2001; (c } 24 June and recorded in the Books of Council and Session on 29 June, both in 2009, and (d) Deed of Assumption and Conveyance incorporating Minute of Resignation, dated 24 June 2009 and recorded in the Books of Council and Session on 29 June 2009.
Professional Advisers
Legal Advisers irving Geddes WS Solicitors 25 West High Street Crieff Perthshire PH7 4AU
Investment Managers Rathbones Stockbrokers George House 50 George Square Glasgow G2 1EH
Independent Examiner
Drummond Laurie Chartered Accountants Algo Business Centre Glenearn Road Perth PH2 ONJ
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WENDY SHAW'S CHARITABLE TRUST
TRUSTEES’ ANNUAL REPORT YEAR TO 5 APRIL 2025
History and Objectives of the Trust
The Trust was established by the Will of the late Wendy Shaw, dated 1 October 1998 and recorded in the Books of Council and Session on 8 February 1999. Deeds of Assumption and Conveyance, dated (a) 21 and 25 May and recorded in the Books of Council and Session on 27 May, all in 1999; (b} 5 March and recorded in the Books of Council and Session on 12 March, both in 2001; (c ) 24 June and recorded in the Books of Council and Session on 29 June, both in 2009, and (d) Deed of Assumption and Conveyance incorporating Minute of Resignation, dated 24 June 2009 and recorded in the Books of Council and Session on 29 June 2009, also apply to this Trust.
The terms of the Trust direct the Trustees to distribute the annual income of the Trust Fund equally between and among the nominated charitable beneficiaries.
Recruitment and Appointment of Trustees
Trustees are assumed (and resign} with the consent of the existing Trustees, under Section 3 of the Trusts (Scotland) Act 1921 and Section 13 of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990,
Trustees Remuneration, Expenses and Transactions
Remuneration was paid to the Firm of Irving Geddes WS for legal services rendered during the period. The Trustee is a partner of the said Irving Geddes WS. Remuneration of £2,898 was paid to Messrs Irving Geddes WS during the period under review, for all work carried out from 6 April 2023 to 5 April 2024.
Review of Financial Position and Activities During the Year The Charity's gross income, excluding funds released from investments amounted to £4,045 (2024: £4,445) in this reporting period and was generated solely from investments held by the charity. Gross expenditure in Unrestricted Funds amounted to £8,876 (2024: £9,170).
The value of the investment portfolio decreased by approximately 0.45% from £180,090 to £179,282 and in light of the current economic situation the Trustees are satisfied with the financial position at the end of the year. Donations totalling £3,600 were made to Barnardos, Cancer Research Campaign Scotland and Church of Scotland General Trustees in the year to 5th April 2025.
Investment Policy & Performance
The Trustees have instructed Speirs & Jeffrey Stockbrokers Ltd (now trading as Rathbones) to manage the Trust funds and have advised that they are prepared to accept a medium level of risk. Speirs & Jeffrey/Rathbones, Stockbrokers are instructed to seek both capital and income growth.
Policy for Donations
The Trustees are guided by the wishes of the Settlor in determining donations to be made, (as indicated in the Trust Deed).
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YEAR TO 5 APRIL 2025
WENDY SHAW'S CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT
Reserves Policy
The Trustees’ policy is to disburse the whole of the net income in donations and to utilise the free reserves in any years of deficit.
Donated Facilities and Services
There were no donated facilities or services in this financial year,
Plans for the Future
The Trustees intend to continue making donations in a similar way to the recent past, retaining flexibility on the scale of donations and restricting these to available income.
Risk Management
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 charity reduces this risk. In addition, at least one of the Trustees will have some knowledge of any chosen charitable body to which a donation is made. The Trustees also protect against the risk of financial mismanagement by the appointment of Solicitors, who are bound by the Law Society of Scotland Solicitors' Accounts Rules in relation to their client monies, to carry out the day to day administration of the Trust in compliance with regulations governing charities.
Approved by the Trustees and signed on their behalf by
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Independent examiner's report to the Trustees of Wendy Shaw's Charitable Trust
| report on the accounts of the charity for the period from 6 April 2024 to 5 April 2025 which are set out on pages 1 to 7.
Respective responsibilities of trustees and examiner
The charity's Trustees are responsible for the preparation of the accounts in accardance with the terms of the Charities and Trustee Investment (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 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) Regulation 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 | 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:-
- 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 Accounts Regulations, and
-to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts 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.
i; on_ yj Laurie
Chartered Accountants
Algo Business Centre Glenearn Road Perth PH2 ONJ , Date:
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WENDY SHAW’S CHARITABLE TRUST
TRUST ACCOUNT FOR THE PERIOD 06 APRIL 2024 TO 05 APRIL 2025 STATEMENT OF RECEIPTS AND PAYMENTS
==> picture [447 x 467] intentionally omitted <==
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|RECEIPTS|2625|2024|
|Receipts from|investments|
|Dividends from|UK|Companies|2,848|2,369|
|Unit Trust/OEIC|Interest|330|839|
|Other|Income|0|0|
|Overseas|fncome|419|1,214|
|Bank|Interest|448|24|
|Property|Income|0|0|
|4,045|4,445|
|Proceeds from|sale|of|investments|194,498|32,591|
|TOTAL|RECEIPTS|198,543|37,036|
|PAYMENTS|
|Grants and|Donations|Relating|Directly|to|Charitable|Activities|
|Barnardos|1,200|1,200|
|Cancer|Research|Campaign|Scotland|1,200|1,200|
|Church|of|Scotland|General|Trustees|1,200|1,200|
|3,600|3,600|
|Governance|costs|
|Messrs|Irving|Geddes,|legal|fees|for|previous|year|per|assessment|by|
|Law|Accountant|2,898|2,442|
|Law|Accountant Assessment|Fee|-|for|previous|year|144|122|
|Independent|Examiner|-|for|previous|year|288|0|
|Perth|&|Kinross|Council|0|0|
|Other expenses|18|6|
|Investment|management|costs|1,928|3,000|
|3|5,276|5,570|
|Purchase|of investments|194,749|27,742|
|TOTAL|PAYMENTS|203,625|36,912|
|SURPLUS/DEFICIT FOR PERIOD|{5,082}|124|
----- End of picture text -----
All funds are unrestricted
No remuneration or expenses were paid to the trustees during the period under review
Messrs Irving Geddes WS, a firm in which the Trustee is a partner, received £2,898 in respect of legal services rendered to the Trt
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WENDY SHAW’'S CHARITABLE TRUST TRUST ACCOUNT FOR THE PERIOD 06 APRIL 2024 TO 05 APRIL 2025 STATEMENT OF BALANCES AS AT YEAR END
| 2025 | 2024 | |
|---|---|---|
| £ | ||
| Bank and cash in hand | ||
| Opening balances | 6,657 | 6,533 |
| Surplus/(Deficit) for year | (5,082) | 1.24 |
| Closing balances | 1,575 | 6,657 |
| Investments | ||
| Market value at start ofyear | 180,090 | 176,290 |
| Purchase of Investments | 194,749 | 27,742 |
| Sale of Investments | (194,498) | (32,591) |
| Increase/(decrease) in market value | (1,059) | 8,649 |
| Market value at end ofyear a |
179,282 | 180,090 |
All funds are unrestricted
- | theTrustees and| on their behalf by
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