Blackadders MRS INA B. BRIGGS MEMORIAL TRUST Atcounts for the year to 31 Au8USt 2022. Scottish Charity No. SC029223 30 & 34 Reform Stre&t Dundee DOI IRJ Tel: 01382 229222 009433-0001 MRS INA 8.BAIGG5 MEM RIAL TR ST Trustees. Annual Re ott forthe e8r to st Z02Z. (urrefttTitsstees ers ee5 A8ents and Contact address Blackadders LLP, 30 & 34 Reform Street, Oundee, DDI I￿. G￿er#iThg document and appointrnent ofTrv5tÈes The Trust was cgnsiiiuted by a Declaration of Tru5r dated 8 lulle 1999 by ihe Executors of the late A number of Deed5 of A5surnption fallowed reSult￿ng in the currentTiustees as showD above. charitable Purpose The purposes of the Trust are the èssistènce of the needy aged and DthÈr cases of personal hardship ihar the TrustÈes mav, in their 501e and ibsoluie discretion, decide rEquire 8ssistènce. the objects of ihe Trust b&ing to make payments to such 4eedy individuals direct 01 tu such Chafitoble Institutions ar Churche5 as the Trustees consider Bfe Tnost likely ta provide a￿lstanCe and to do all things a5 will properly attain the ébove purposes. Trwstee5' Temuneration and expen5¢S The Trustees did noi receive any rernuileration or expenses in the year tD 31 August 2022 is a Partner of 81ickadder5 LLP who provide administration servicp5 to thè Trust who are the sole shareholders ot 81ackadders Tru5teÈ Ltd. He Is also a Partner in Black3dOers Wealth Management LLP who provide investment rnanagement and advice. Fees including vat for adminisir3tion and investment manaEemenf respectively amounted to £5.598.00 and £3,786.09 12021 ,702.00 and £3.702.9SI. Investments The primary investment objective is to achieve a balance of incorne and tapital ¥roYrth subjett ro a mediuffl to higher degree of risk. Investment pprformènce is rne3sured aTrd reviewed bi-aftnually 484inst relevant investment benchmarks. 81ack3dder5 Weèlth ManèÈement ILP provide advice and portfolio managernent services. ￿ Bell Nominees Ltd are re5pDnsible lor custody of stock and prgvidE collection and other services. Future Strate8v The Trustees have considered the impact of the Covid-19 pandemic and other world events on thÈ work ol the charlty. They have particular regard to the advice af the Investment Mana8er5 and are aware of the fluttuaiions In the value of the portfolio and the redu£tlOTh in dividend income. Whilst rhey are content that any risks will nat rnatertally affect the viability or work of the charlty In Ihe future. they have detided, in an effort to redvce costs and increase funds available for charitablE EiwnL ro transfer the a55etS to the 188 Trust ISC00879513nd wind up the tharity. After review of runnins Costs the trusr purpose5 and followin8 an Initial Informal approach to OSCR, the Tfvsiee5 resolved to make a donaiion of the asset5 of thi5 Iharitv to the Trustees of the IBB Trust. Both sets of frustees a8reed mutual indemnitie5 in respect of fÈes and other costs arising. An applicètion to wind up will be submirtpd to OSCR earfy In 2023_ Results and Funds held The results are shown In the attached StatÈment of Receipt5 3nd PoymÈnts for the year to 31 August 2022. The advice of BlackaddEf5 Wealth Mana8ement LLP has been taken throu8hout the year on investmEnt5. There wa5 a surplys 01 É414.97 for Ihe year12021- deficif £13.369.381. The total funds of the Trust are shown in the 510tementof Balances at 31 August 2022 and are held as unre5tri¢ted. Approved by the Truslees and signed ofi thelr behall by.. Oate.. ee Page 2 MRS INA B.BRIGGS MEMORIAL TRUST Statement ol Recei ts and Pa ments tor the ear tts 31 Au U5t 2022. Unrestricted Funds 2022 Unrestricted Funds 2021 RECEIPTS Dividends Received per Schedule I 7,748.21 7,950.92 Bank Interest pei Schedule 11 9.88 Proceeds of Investment Sales per Schedule 111 £ 229,637.07 65,677.76 £ 237,395.16 73,628.68 PAYMENTS Gr¥nt5 Paid per Schedule IV 8.000.00 8,000.00 Investment Mana per Schedule V ement Costs 3,786.09 3,702.95 Governance Costs per Schedule Vl 6,348.00 4.452.00 P rchase cost of Investments ac per Schedule Vll uired £ 218.846.10 70,843.11 £ 236,980.19 86,998.06 SurplusllDeficitl for the year 414.97 1£ 13,369.381 Page 3 MRS INA 8.BRIGGS MEMORIAL TRUST Statement of Balances at 31 Au ust 2022. Unrestricted Funds 2022 Unrestricted Funds 2021 Bank Deposits Opening Balance Surplus/lDeficitl for the year 9.794.64 414.97 £ 23,164.02 1£ 13,369.381 C5osing Balance - per Schedule Vlll £ 10.209.61 9.794.64 Represented by General Funds £ 10,209.61 9.794.64 Investments at market valve A J Bell Nominees Investment Portfolio £ 339,538.67 £ 382.507.1]0 The liabilities of the charity at 31 August 2022 are.. 8lackaddeTS LLP. their fee for work in the Trust for the year to 31 August 2022 of £1,495 plus vat, being E3,033 plus vat 1£3,6401 less £2,000 taken to account and Mcmillan Audit Ltd's fee of £145 12021 £2,665 plus vat). Mcmillan Audit Ltd, their fee for asse55ing 61ackadders' fee £145 plus vat12021 £95 plus vat). Fourm Chartered Accountants, their fee for the Independent Examination of this account of £555 plus vat12021 £530 plus vat). ApprDved by the Trustees and signed on their behalf Date.. ?&[ xl a3 Page 4 MR5 INA B.BRIGGS MEMORIAL TRUST Notes to the accounts for the ear to 31 Au ust 2022. Accounting Policies 1.1 All income is recorded on a receipts basis with no accrLt31 being made for anticipated dividend5. All expendilure is recorded as paid. 1.2 Inve5trnents are shown in the Statement of 8alances at their rnarket value at the year end. Grants paid are as detailed in Schedule IV. No remun£ration was paid to the Tru5tees12021- nill. The Trust has no empSoyee512021- none). There are no material commitments a5 at 31 August 2022. Pa8e 5 MRS INA B.BRIGGS MEMORIAL TRUST ort of the Inde eTrdeTrt Examiner to the Trustees Re I report on the account5 Of the Trust for the year ended 31 August 2022 which are set out on page5 2 to 5. Aespe£ti¥e responsibilities of the Trust*es and ExamSner The Trustees are responsible for the preparation of the accounts in accordance with the term5 of the Charities and Trustee Investment Iscotlandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2006 las amended). The Tru5tee5 con51der that the audit requirement of Regulation Iolllldl of the Accounts Regulations doe5 not apply. It 15 v responsibility to examine the accounts as required under sectioll 4411) Icl of the Act and to state whether particular matter5 have corne to my attention. 8asis of Independent Examinerf5 Ststement My examination is carried out in accordance with Regulation 11 of the Charities Account5 (Scotlandl Regulations 2006. An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those record5. Et also includes consideration of any unusual items or disclosures in the ccounts, and seeks explanations from the Trustees concerning any such matters. The procedure5 undertaken da not provide all the evidence that would be required in an audit, and consequently I do not expres5 an audit opinion on the accounts. Independent Examinerf5 Statement In the course of my examination, no matter ha5 come to my attention.. which gives me reèsonable cause to believe that, in any material respect, the requirement5 to keep accounting records in accordance with Section 441lllèl of the 2005 Art and Regulation 4 of the Charities Accounts Iscotlancll Regulations 2006, and to prepare account5 which accord with the accounting records and comply with Regulation 9 of the Charitie5 Accounts (Scotlandl Regulations 2006 have not been met. or to which, in my opinion, attention should be drawn in order to enable a proper understanding ol the accoynts to bc -eached. Date.. Fou,"fbJ Lh- Stannergate House 41 Dundee Road West 8roughty Ferry Dundee DD5 INB Page 6 MRS INA B.BRIGGS MEMORIAL TRUST Schedules to the Accounts for the ear to 31 Au ust 2022 Schedule I Dividertds Received Investment Income 2022 2021 7,748.21 7,950.92 Schedule 11 Bank Interest Bank of Scotland- account 00202724 Interest for the year 9.88 Schedule 111 Proceeds of Investment Sales £ 229,637.07 £ 65,677.76 Schedule IV Grant5 Paid CLIC Sargent Cancer Care for Children Cr055roads Caring Scotland IDundeel Support In Mind Scotland Dundee Carers Centre for Young Carer5 2,000.00 £ 2.oGxI.00 2,000 00 2.1)00.00 2,000.00 £ 2,000.00 2.000.00 2.000.00 8.000.00 8,IX)O.00 Page 7 MRS INA B.BRIGGS MEMORIAL TRLIST Schedules to the Accounts for the ear to ai Au st 2022 contd Schedule V Investment Managemenl Cost5 Paid Blackadders Wealth Mana8ement LLP their fees and vat lor investment management as follows.. Three mtsnths to date 2022 2021 991.Q9 £ 817.63 Legal Entity Identifier renewal Three months to date Three months to date Three months to date 78.00 £ 915.22 £ 896.96 £ 904.82 £ 78.00 892.94 946.62 967.76 3,786.09 £ 3,702.95 Schedule Vl Governance Costs Mcmillan Audit Ltd for asses5rnent of Blackadders LLP'S fee linc vatl Fourm Ch3rtered Accountants their fee inc vat for examining the last account Blackadders LLP their fee for work to 31.8.2021 as assessed by Roland Mcmillan less his fee Inc vatl. Blackadders LLP interim fee for work to 31.8.2022 linc vatl. 114.00 £ 132.00 636.00 £ 618.00 3.198.00 £ 3.702.00 2,400.00 £ 6.348.00 £ 4,452.00 Schedule Vll Purchase cost of investments acqulred £ 218,846.10 £ 70,843.11 Sthedule Vlll Bank Deposits 3110812022 ￿ Bell Nominees Ltd Cash Account Blackadders LlP 7.507.57 £ 9,554.48 Bank of Scotland Account 00202724 2.702.04 £ 240.16 £ 10.209.61 £ 9,794.64 Page 8