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← Colin Grant Charitable Trust

2025-06-30-accounts

®

Charity Registration No: 5CO32613 (Scotland)

THE COLIN GRANT CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

CONTENTS

Legal and Administrative Information 1 Trustees Report 2-3 Independent Examiners Report 4-S Statement of Financial Activities 6 Balance Sheet ? CashFlow Statement g Notes to the Financial Statements 9-13

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

George John Muir Dunlop Stephen John Brand Mrs Elizabeth Anne Smith Mrs Joyce Grant

Charity Number {Scotiand)

§C032613

==> picture [376 x 321] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Principal Address|Thorntons|Law|LLP| |Whitehall|House| |33|Yeaman|Shore| |Dundee| |DD1|48!| |independent|Examiner|Jason|Condie|CA| |Condie|&|Co|Ltd|trading|as|Dains| |10 Abbey|Park|Place| |Dunfermline| |K¥12|7NZ| |Bankers:|Royal|Bank of Scotland| |3|High|Street| |Dundee| |DD1|9LY| |investment Managers.|Thorntons|Investment Management|Ltd| |Whitehall|House| |Yeaman|Share| |Dundee| |DD1|4B)|

----- End of picture text -----

i

TRUSTEES’ REPORT

The Trustees present their annual report and financial statements for the year ended 30 June 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 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)"

Origins

Will by Colin John Grant dated 3 October 2000. The Trust was registered with OSCR on 10th August 2001 and commenced on 18 September 2002.

The purpose of the Trust is to make grants to such charitable institutions as the Trustees in their uncontrolied discretion may from time to time select.

Organisation

The day-to-day administration is carried out by Thorntons Law LLP as agents for the Trust. The Trustees meet twice a year to review all aspects of the Trust's affairs.

Activities and achievements

During the year grants totalling £25,500 (2024 - £23,350) were paid in furtherance of the stated objects of the charity of which £24,500 was paid and £1,000 remained outstanding at the year end and is included within creditors

Financial review

The results for the year are set out on pages 6 and 13. The Trust has an accumulated revenue surplus of £21,894 (2024-£29,904}.

Reserves Policy

The reserves of the Trust originate from the original capital bequest, together with the movement in the value of investments, and accumulated revenue. The Trustees have adopted a reserves policy that ensures the continuing ability of the Trust to meet its objectives. The level of free reserves held at 30 June 2025 was £902,640 (2024-£913,167)}.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate exposure to those risks.

Appointment of Trustees

Trustees are nominated by the then existing trustees and their appointment confirmed by formal Deed of Assumption.

2

TRUSTEES’ REPORT (Contd)

Trustees

The Trustees during the year were:

George John Muir Dunlop Stephen John Brand Mrs Elizabeth Anne Smith Mrs Joyce Grant

The Trusyéas' Report was approved by the board of trustees.

Trustee

_ 2 f/B/dotlo Date

3

INDEPENDENT EXAMINER'S REPORT

{report to the Charity Trustees on my examination of the financial statements of the charity for the year ended 30 June 2025, which are set out on pages 6 to 13.

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 Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Charity Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 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. ft 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 | do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

in the course of my examination, no matter has come to my attention:

(a) which gives me reasonable cause to believe that in any material respect the requirements:

{i) to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

have not been met; or

{b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Use of our report

This report is made to the charity's board of Trustees, as a body, in accordance with the terms of engagement. My work has been undertaken to enable me to undertake an independent examination of the charity's financial statements on behalf of the charity's board of Trustees and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the charity's board of Trustees as a body, far my work or for this report.

4

INDEPENDENT EXAMINER'S REPORT

Jason Condie CA Condie & Co Ltd trading as Dains 10 Abbey Park Place Dunfermline KY12 7NZ

1S [4] 2026

Date

5

STATEMENT OF FINANCIAL ACTIVITIES

2025 2024
Notes £ £ £ £
Income
Investments 3 26,789.49 26,015.47
Expenditure
Raising Funds 4 8,147.36 7,779.57
Charitable Activities 5 34,800.00 30,550.00
Governance Casts 7 10,680.00 7,200.00
Total Expenditure 53,627.86 45,529.57
Netgains/(losses) on investments 10 16,311.33 63,074.64
Netincome/(expenditure) being netmovement in funds (10,527 04) 43,560.54
Reconciliation ofFunds
Fund balances at 1 July 2024 913,166.54 869,606.00
Fund balances as at 30June 2025 902,639.50
So		 913,166.54
a—————————

All income and expenditure for the current and comparative year are in respect of unrestricted funds.

6

BALANCE SHEET

==> picture [434 x 378] intentionally omitted <==

----- Start of picture text -----
2025 2024
Notes £ £ £ £
Fixed Assets
investments 11 885,668.55 868,353.03
Current Assets
Cash at bank and in hand 6,766.69 9,268.58
Cash held with Thorntons Investments 12,104.26 35,544.93
18,870.95 44,813.51
Creditors 13 {1,900.00} -
Net Current Assets/ (Liabilities) 16,970.95 44,813.51
Total Assets less current liabilities 902,639.50 913,166.54
SSS ey
Income Funds
Unrestricted Funds 902,639.50 913,166.54
902,639.50 913,166.54
The financial statements were approved by the Trustees on 25[[Lote
Trustee
----- End of picture text -----

7

STATEMENT OF CASHFLOW

2025 2024
Net cash used in operating activities (53,627.86) {45,529.57}
Cash Flows from Investing Activities
interest& Dividends 26,789.49 26,015.47
Proceeds from sale of investments 119,034.66 165,415.99
Purchase ofinvestments ___(120,038.85) {120,014.03}
Netcash provided (used in) investing activities 25,785.30 71,417.43
Changes incash&cashequivalents this year (27,842.56) 25,887.86
Cash & cash equivalents broughtforward 44,813.51 18,925.65
£ 16,970.95 £ 44,813.51
Reconciliation of net movements in funds to net cash low from operating activities
2625 2024
Net movement in funds (10,527.04) 43,560.54
Deduct gains/add back losses on investments {16,311.33} (63,074.64}
Deduct investment and interest incume (26,789.49) (26,015.47)
(Increase}/Decrease in debtors -
(Decrease)/Increase in creditors - -
Net cash used in operating activities (53,627.86)
a
——		 (45,529.57)
=e
Analysis ofcash & cash equivalents
Cash on Deposit 6,766.69 9,268.58
Capital Cash 12,104.26 35,544.93
Totalcashandcashequivalents £ 18,870.95 £ 44,813.51

8

NOTES TO THE FINANCIAL STATEMENTS

1) Accounting Policies

Charity Information

The Colin Grant Charitable Trust is a charity registered in Scotland. The registered office is Thorntons Law LLP Whitehall House, 33 Yeaman Shore, Dundee, DD1 48}.

1.1) Basis of Preparation

The Accounts are prepared under the historical cost convention, modified for the revaluation of investments, and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FAS 102) (effective ist January 2019),

The Accounts are also prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts {Scotland} Regulations 2006 (as amended}.

The Colin Grant Charitable Trust meets the definition of a public benefit entity under FRS102.

The Trust's transactional currency Is pounds sterling, and rounding is to the nearest penny.

The Trustees consider that there are no material uncertainties that would lead them to question the Trust's ability to continue as a going concern.

In the application of the charity's accounting policies the Trustees are required to make judgements, estimates and assumptions about carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods

1.3} Major Funds The Trust has only one general fund Movement on the fund is shown in the Statement of Financial Activities.

1.4) Income investment and other income represent amounts receivable in the accounting year.

1.5) Expenditure All expenditure is included on an accruals basis and is recognised when there is a legal and constructive obligation to pay for expenditure. irrecoverable VAT is included in the related expenditure.

9

NOTES TO THE FINANCIAL STATEMENTS (Contd)

1) Accounting Policies (Contd)

The investment portfolio is included in the Balance Sheet at market value. Gains and losses on disposals and revaluation of investments are charged or credited to the Statement of Financial Activities.

There were no loans or liabilities secured on the Trust's assets at 30 June 2025 (2024 - none),

1.10) Basic financial assets

Basic financial assets, which include bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors are recognised at transaction price.

2) ~~‘ Critical Accounting Estimates and Judgements

In the application of the Charity's accounting policies, the Trustees are required ta make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The Trustees consider that there are na estimates and underlying assumptions which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

10

LJ

NOTES TO THE FINANCIAL STATEMENTS (Cond)

3) Investments

2025 2024
£ £
Dividends Received 25,925.81 25,957.09
Bank Interest 863 68 58,38
26,789.49 26,015.47
4) — RaisingFunds 2025 2024
£ £
InvestmentManagement Fees Z 8,147.86 7,779.57
8,147.86 7,779.57
5) CharitableActivities 2025 2024
£ £
Donations (See note 6)
SupportCosts(See note 7}		 25,500.00
9,300.00		 23,350.00
7,200.00
34,800.00 30,550.00

i

NOTES TO THE FINANCIAL STATEMENTS (Cond)

6) Donations
2025 2024
£ £
Earl HaigFund Scotland 1,000.00 -
National Youth Choir of Scotland 1,500.00 -
Versus Arthritis 1,000.00 -
The Benedetti Foundation 500.00 ‘
Hayshead Primary School 1,000.00 -
Auchmithie Primary Schoal 2,500.00 :
Spotlights Community Youth Theatre 1,000.00 :
Anguslubilee Fund 1,000.00 -
Maggie Keswick Jencks Cancer Caring Centres 1,000.00
Angus Riding forthe Disabled 2,000.00 -
Tayside Council on Alcohat 1,000.00 -
Strathmore Community Rugby Trust 2,000.00 -
Arbroath DistrictCamp 1,000.00 -
Young Lives vs Cancer 2,000.00 1,000,00
SkillzAcademy 2,000.00 2,000.00
Dundee& Angus ADHD Support Group 1,000.00
Scottish Fire & Rescue Service 1,000.00
Arbroath Youth Football Club 1,000.00
Angus Young Engineers AfterSchool Club 1,000.00
Angus IndependentAdvacacy 2,000.00 :
RSABI 1,500.00
Arbroath Garden Allotment Association 2,000.00
Arbroath West Kirk $00.00
The Café Project 1,500.00
Auchmithie Village Hall 5,000.00
Art Moves 500.00
SIMBA 500.00
Arbroath Choral Society 350.00
Royal Air Force Benevolent Fund 500.00
Arbroath Sea Cadets 3,000.00 -
Arbroath Lawn Tennis Club 2,000.00
Mum & Me _ 2,000.00
Donationspaid 25,500.00 23,350.00
7) Support Costs
Governance
Support Costs Costs 2025 2024
£ £ £ £
Legal and Professional Fees 9,300.90 9,300.00 18,600.00 14,400.00
independent Examination Fees _ —— 1,380.00 1,380.00 as
£ 9,300.00 £10,680.00 £ 19,980.00 £ 14,400.00

12

?

NOTES TO THE FINANCIAL STATEMENTS (Cond)

10) Net gains/{losses) on investments

10) Net gains/{losses)gains/{losses) on investmentsinvestments 2025 2024
E £
Revaluation ofInvestments 17,133.66 31,228.10
Gain/(loss) on saleofinvestments (822 33) 31,846.54
. 16,311.33 63,074.64
11) Fixedassetinvestments 2025S
£
Costat 1 July2024
Purchases
Sales
Gain/(loss) on sale ofinvestments
Gain/(loss)on Revaluation ofinvestments		 868,353.03
120,038.85
(119,034.66)
{822.33}
17,133.66
Valuation as at30June2025 885,668.55
—————————————
Carrying amount
At30june 2025		 $85,668.55
——————a ee
At30June2024 on 898,353.03
12) StatementofRevenueBalance 2025 2024
£ €
Income Received 26,789.49 26,015.47
Less:
Donations made
SupportCasts		 _ (25,500.00)
{9,300.00}		 (23,350.00)
(7,200.00)
(8,010.51} (4,534.53)
BalanceBrought Forward 29,904.47 34,439.00
€ 21,893.96 £ 29,904.47.

13

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Interest

Thorntons LLP
Interest to 15.01.24 24.22
interestto Close ofCMS 5.77
Thorntons Wealth Investments
Interest to 31.07.24 132.02
Interest to 31.08.24 109.94
Interest to 30.09.24 93.86
interest to 31.10.24 60.34
interest to 30.11.24 49.17
Interest to 31.12.24 48.80
Interest to 31.01.25 51.96
interest to 28.02.25 27.96
Interest to 31.03.25 21.18
Interest to 30.04 25 42.09
Interest to 31.05.25 39.24
interest to 30.06.25 36,64
Fund Unit Rebate October 2024 119.94
Fund Cash Rebate August 2024 0.55
£ 863.68
Thorntons Fees
Administration Fee to 30.06.24 £ 4,200.00
Administration Fee to 30.09.24 3,600.00
Administration Fee to 31.12.24 3,600.00
Administration Fee to 31.03.25 3,600.00
Administration Fee to 31.05.25 3,600.00
£ 18,600.00
ThorntonsWeaith investment Fees
investment ManagementFee to 31.07.24 £ 1,361.11
Investment Management Feeto 31.10.24 1,355.34
Investment Management Fee to 31.01.25 1,385.96
Investment Management Fee to 30.04.25 1,329.50
CustodyCharge to 33.07.24 680.55
CustodyCharge to 31.10.24 677.67
CustodyCharge to 31.01.25 692.97
CustodyCharge to 30.04.25 664.76_
€ 8,147.86

Dividend Income

02.07.2024 BlackRock Frontier Markets investment Trust F 626.95
11.07.2024 GSK Plc 147.66
11.07.2024 Scottish Mortgage Investment Trust 154.59
12.07.2024 Persimmon Plc 336.00
19.07.2024 Experian Pic 259.79
19.07.2024 {CG Enterprise Trust 227.97
19.07.2024 National Grid Plc 1,003.81
26.07.2024 JPMorgan Global Emerging Markets income Trust 210.00
25.08.2024 Sarasin Fund ICVC Global Higher Dividend P Dis 440.59
30.08.2024 Henderson Far East Income Ltd 372.55
30.08.2024 Mi Chelverton UK Equity Inc B 701.30
30.08.2024 ICG Enterprise Trust 215.30
30.08.2024 Fundsmith Equity Fund Dis
06.09.2024 Unilever Plc 171.49
09.09.2024 AstraZeneca Pic 194.77
13.09.2024 Reckitt Benckiser Group 241.20
16.09.2024 Melrose Industries Plc 43.58
19.09.2024 SSE Plc 680.00
23.09 2024 Shell Plc 315.36
26.09.2024 Rio Tinto Pic 1,060.40
27.09.2024 Legal & General Group 450 00
27.09.2024 Alliance Witan Pic 262.41
30.09.2024 Jupiter Unit Trust ManagersJapan Income 478.73
10.10.2024 GSK Pic 147.60
17.10.2024 Diageo Pic 661.22
18.10.2024 JPMorgan Global Emerging Markets income Trust 504.00
23.10.2024 Prudential Pic 41.72
08.11.2024 Persimmon Plc 168.00
08.11.2024 Smith& Nephew Pic 230.32
25.11.2024 Sarasin Fund ICVC Global Higher Dividend P Dis 308.14
29.11.2024 MiChelverton UK Equity Inc B 511.76
29.11 2024 ICG Enterprise Trust 215.30
29.11.2024 Henderson Far East income Ltd 372.55
06.12.2024 Unilever Plc 169.96
13.12.2024 Scottish Mortgage investment Trust 93.69
19.12.2024 Shell Ple 325.98
27.12.2024 Alliance Witan Pic 266.77
09.01.2025 GSK Pic 147.60
14.01.2025 National Grid Pic 524.93
24.01.2025 JPMorgan Global Emerging Markets Income Trust 210.00
31.01.2025 JPMorgan US Equity Income C Net Inc 92.30
07.02.2025 Experian Plc 88.68
14.02.2025 BlackRock Frontier Markets investment Trust 1,096.14
23.02.2025 Sarasin Fund {CVC Global Higher Dividend P Dis 227.21
27.02.2025 SSE Plc 360.40
28.02.2025 ICG Enterprise Trust 215.30
28.02.2025 Fundsmith Equity Fund
 Dis
28.02.2025 MIChelvertonUKEquityIncB 348,02

’

Dividend Income(Contd)
24.03.2025 AstraZeneca Pic 304.08
24.03.2025 Shell Plc 335.14
2803.2025 Unilever Pic 175.16
31.03.2025 Alliance Witan Plc 266.77
31.03.2025 Jupiter Unit TrustManagersJapan Income 567.04
10.04.2025 GSK Pic 157.44
17.04.2025 Rio Tinto Plc 1,390.30
22.04.2025 JPMorgan GlobalEmerging Markets IncomeTrust 210.00
24.04.2025 Diageo Pic 440.72
25.04.2025 invesco Asia Dragon Trust 223.35
30.04.2025 JPMorgan US EquityIncome C Net Inc 253.68
30.04.2025 BlackRock Frontier Markets Investment Trust 328.63
09.05.2025 Schroder Asian Total Return 1,006.59
09.05.2025 Melrose industries Ple 97.16
14.05.2025 Prudential Plc 98.01
23.05.2025 Sarasin Fund ICVC Global Higher Dividend P Dis 268.11
28.05.2025 Smith& Nephew Plc 362.71
29.05.2025 Reckitt BenckiserGroup 365.10
30.05.2025 MI Chelverton UK Equity Inc B 296.41
05.06.2025 Legal& General Group 1,152.00
23.06.2025 Shell Plc 318.50
23.06.2025 JPMorgan GlobalGrowth &Income 368.61
24.06.2025 BlackRock FrontierMarkets Investment Trust 615.45
30.06.2025 AllianceWitan Pic 280.65 —
£25,925.82