THE NORAH WEBBER CHARITABLE TRUST SCOTTISH CHARITY NUMBER: SC033664
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5'4 APRIL 2025
Sarah Brown Charity Law
Doc ID: 67e518f8572ce266c848cd4ab5aea4740db7a41a
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The Norah Webber Charitable Trust ~~-~~ Trustees’ Annual Report
For the year ended 5th April 2025
Structure, Governance and Management
The Norah Webber Charitable Trust is constituted by a Deed of Trust dated 7th May 2002 and registered in Books of Council and Session at Edinburgh on 23rd September 2003.
Charity trustees are required to declare any potential, real, or perceived conflicts of interest at the start of each meeting. These declarations are recorded in the minutes, and the trustee in question must refrain from participating in any discussions or decisions related to the matter.
The charity trustees have delegated the day ~~-~~ to ~~-~~ day administration of the charity to a firm of solicitors, who manage routine correspondence, financial transactions, and compliance matters on behalf of the charity. The charity trustees retain overall responsibility. The charity trustees receive a report on the finances of the charity at least quarterly. The charity trustees meet with the solicitors at least once a year.
The charity trustees receive a legal and regulatory update at least once a year from the charity’s solicitors in order to keep up to date with their role and responsibilities. Thorntons Law LLP provided administrative and legal support until March 2025 when Sarah Brown Charity Law WS was appointed.
Charitable Purposes and Activities
The purpose of the charity is to make donations, subscriptions or grants or payments from the income and if thought fit also from the capital for charitable purposes or to such bodies or organisations established for charitable purposes as the trustees may decide with the proviso that the trustees shall give particular consideration to such bodies or organisations established for charitable purposes situated in Pittenweem, Fife and the surrounding district.
The charity’s activities are that of grant making in furtherance of the charitable purposes.
Achievements and Performance
From 6th April 2024 to 5th April 2025, the charity paid 22 grants (see Note 2 to the financial statements) aligned with its funding priorities. The trustee’s current policy is to seek to evenly distribute funding
across four focus areas in the East Neuk of Fife which are:
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a) Supporting vulnerable families and children
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b) Promoting learning through activities and projects
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c) Assisting young and older people in the community
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d) Enhancing community wellbeing through communal initiatives
~~a —~~
Doc ID: 67e518f8572ce266c848cd4ab5aea4740db7a41a
The Norah Webber Charitable Trust ~~-~~ Trustees’ Annual Report
For the year ended 5th April 2025
Financial Review
The Norah Webber Charitable Trust has maintained a stable financial position throughout the year. The Trust is primarily funded by investment income. During the year, the investment portfolio performed well, generating an income of £34,840 (2024 ~~-~~ £35,560). The funds held in unrestricted reserves amount to £1,165,553.70 which the Charity Trustees believe is sufficient to meet any unexpected liabilities which could arise as well as normal running expenses.
Investment Policy
The Norah Webber Charitable Trust investment policy is designed to achieve a balance between income generation and capital preservation. The trust's investments are managed by Evelyn Partners, who ensure that the portfolio is diversified and aligned with the trust's risk tolerance and any ethical considerations.
Plans for Future Periods
The charity intends to continue its established gran ~~t-~~ making initiatives in alignment with its funding priorities for public benefit, while ensuring the long ~~-~~ term financial stability of the organisation is preserved.
Trustees
Statement of Trustees’ Responsibilities
The charity trustees are responsible for preparing the annual accounts in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.
The trustees must ensure that:
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e Proper accounting records are maintained, accurately reflecting all receipts and payments made during the financial year.
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e The accounts present a true and fair view of the financial position of the charity at the end of the period.
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e The accounts comply with the applicable laws and regulations governing Scottish charities.
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
THE NORAH WEBBER CHARITABLE TRUST
I report on the Accounts of the Charity for the year ended 5 April 2025 which are set out on pages5 to 10.
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 (“the 2005 Act”) and the Charities Accounts (Scotland) Regulations 2006 (as amended) (“the 2006 Regulations”). The charity’s trustees consider that the audit requirement of Regulation 10(1)(d) of the 2006 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.
This report is made to the trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner’s report 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 the trustees for my work or for this report.
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:-
- 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
t to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Partner Henderson Black & Co Chartered Accountants
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22 Crossgate
Cupar
Fife, KY15 5HW
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Date: 22/12/2025
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Receipts and Payments Account
Norah Webber Charitable Trust- SC033664
For the Period 6th April 2024 to 5th April 2025
Statementof Receipts and Payments
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||||||||
|---|---|---|---|---|---|---|
|2025|2024|2023|
|Receipts|£|£|£|
|BankinterestlIncomefrominvestmentsCdS||||34,840114|.|1370|35,559.92ess.32,481.29|
|Tax Repayment|f|||298.62|286.27,|
|Sub|Total|35,253.45|35,908.72|32,487.70|
|Receipts from|Investment Sales|
|Proceeds from Sale of Investments||||190,606.57|214,694.25|19,515.49|
|Total Receipts|225,860.02|250,602.97|52,003.19|
|Payments|
|Payments to Beneficiaries|||2|||32,851.93|21,782.46|15,093.43|
|Investment Management Costs|||3|||12,048.14|11,650.81|11,719.40|
|Independent Examination|Fee|P||660.00|600.00|540.00|
|Bank Charges|||||EO)rs|
|Administration Fees|a|10,590.00|9,075.00|8,250.00|
|Sub|Total|56,170.07|43,108.27|35,602.83|
|Payments|Relating to|Investment|Movements|
|Purchase|of Investments|168,999.43|212,746.67|26,614.25|
|Total Payments|225,169.50|255,854.94|62,217.08|
|Net Receipts/(Payments)|690.52|-5,251.97|-10,213.89|
|Surplus/(Deficit) for the|Year|690.52|-5,251.97|-10,213.89|
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Receipts and Payments Account
Norah Webber Charitable Trust- SC033664
For the Period 6th April 2024 to 5th April 2025
Statementof Balances
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Bankbalancesatstartofyear|||6|||49,066.58|54,318.55|
|surplus/(deficit)|fF|690.52|“5,251.97|
|Bank|Balances End of Year|49,757.10|49,066.58|
|Market Valuation|Market Valuation|
|as|at 05/04/2025|as|at|05/04/2024|
|£|£|
|Government|Fixed|Income|126,404.93|75,042.75|
|Investment|Grade|Corporate|Bonds|58,371.17|111,241.77|
|UK|Equities|170,655.07|235,906.80|
|UK Collectives|21,502.45|23,631.10|
|Overseas|Collective|Investments|577,210.10|569,782.59|
|77,680.30|119,486.56|
|Absolute|Return|45,401.47|22,368.36|
|Blended|38,571.11|36,663.74|
|1,115,796.60|1,194,123.67|
|Total|Funds|as|at|Total|Funds|as|at|
|05/04/2025|05/04/2024|
|£|£|
|Balance of Cash|and Investments|1,165,553.70|1,243,190.25|
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_ : the_ Trustees and_ on their behalf: Position TruSt@e.............c:ccccceccecceceeceseeeees Date of approval 22 / 12 / 2025
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Doc ID: 67e518f8572ce266c848cd4ab5aea4740db7a41a
The Norah Webber Charitable Trust
Scottish Charity Number: SC033664
Notes to the Accounts for the year ended 5th April 2025
1. Accounting Polices
1.1 Basis of Accounting
These accounts have been prepared on the Receipts & Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
For the year to 5 April 2025, the charity changed its accounting policy from preparing its financial statements on the accruals basis in accordance with the Charities Statement of Recommended Practice (SORP), to the receipts and payments basis, as permitted under the Charities Accounts (Scotland) Regulations 2006. This change was made because the charity’s gross income for the year fell below the £250,000 threshold, and the Trustees considered the receipts and payments basis to be more proportionate and cost effective for the charity’s size and complexity.
As a result of this change, comparative figures from the previous year’s Accounts, which were prepared on an accruals basis, have been restated. The restatement schedule can be found in note 11.
1.2 Taxation
- The charity is exempt from tax on income and gains under applicable legislation to the extent that these are applied to its charitable objectives.
1.3 Cash Flow Statement
The charity is entitled to the exemptions available in the Charities Accounts (Scotland) Regulations 2006 (as amended) and is not required to prepare a Cash flow statement.
1.4 Fund Accounting
All of the charity’s funds are unrestricted. Unrestricted funds are those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives.
~~i~~
Doc ID: 67e518f8572ce266c848cd4ab5aea4740db7a41a
The Norah Webber Charitable Trust
Scottish Charity Number: SC033664 Notes to the Accounts for the year ended 5th April 2025
- Payments to Beneficiaries
Payments made for charitable activities are broken down as follows:
| Date | Description | Amount (£) | |
|---|---|---|---|
| 12/04/24 | Grant for purchase oftumble dryer | 280 | |
| 19/04/24 | Donation to Families First StAndrews | 500 | |
| 23/04/24 | Donation toAnstruther Philharmonic Society | 800 | |
| 29/04/24 | Monthly donation to individual | 200 | |
| 25/05/24 | ~— | Donation for2xchildren schooltrip | 680 |
| 29/05/24 | East Neuk Lighthouse, Big5 Project | 4,125.93 | |
| 29/05/24 | Monthlydonation to individual | 200 | |
| 26/07/24 | Nursery Fees =Bee Curious Nursery | 365 | |
| 20/08/24 | Donation to Cellardyke Trust | 1,200 | |
| 29/08/24 | Donation to Pittenweem Playpark | 10,000 | |
| 16/09/24 | Donation to East Neuk Lighthouse | 3,440 | |
| 16/09/24 | Donation toWaidAcademy | 1,000 | |
| 04/10/24 | Nursery Fees -Bee Curious Nursery | 349 | |
| 09/10/24 | Nursery Fees =Bee Curious Nursery | 742 | |
| 30/10/24 | Monthlydonation to individual | 200 | |
| 27/11/24 | Monthly donation to individual | 200 | |
| 17/12/24 | Donationto EastNeuk Lighthouse | ||
| 20/12/24 | Monthly donation to individual | 200 | |
| 30/12/24 | Donationtowards a washing machine | 480 | |
| 16/01/25 | StMonans PrimarySchool 1 xchild schooltrip | ||
| 22/01/25 | — | PittenweemArts Festival | 750 |
| 17/03/25 | Anstruther Harbour Festival | 300 | |
| Total | £32,851.93 |
eB
Doc ID: 67e518f8572ce266c848cd4ab5aea4740db7a41a
The Norah Webber Charitable Trust
Scottish Charity Number: SC033664 Notes to the Accounts for the year ended 5th April 2025
- Investment Management Fees Investment manager fees for period are broken down as follows:
| Date | Amount (£) |
|---|---|
| 15/04/24 | 983.96 |
| 15/05/24 | 981.46 |
| 17/06/24 | 992.97 |
| 15/07/24 | 992.19 |
| 15/08/24 | 998.52 |
| 16/09/24 | 1,001.38 |
| 15/10/24 | 1,004.36 |
| 15/11/24 | 1,009.32 |
| 16/12/24 | 1,010.94 |
| 15/01/25 | 1,001.45 |
| 17/02/25 | 997.03 |
| 17/03/25 | 1,002.56 |
| LEI Fee | 72 |
| Total: | £12,048.14 |
- Administration Fees Administration Fees paid to administrator and legal adviser, Thorntons LLP, are broken down as follows:
| Date | Amount | (£) |
|---|---|---|
| 15/05/24 | 2,325 | |
| 19/08/24 | 2,475 | |
| 29/11/24 | 2,475 | |
| 20/02/25 | 2,475 | |
| 01/04/25 | 840 | |
| Total: | £10,590 |
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Funds All funds held as at 5" April 2025 are unrestricted and can be used at the Trustees discretion in furtherance of the charity’s purposes.
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Bank Balances as start of the year (6" April 2024) Represented by:
Royal Bank of Scotland Account £28,805.00 Evelyn Partners Ledger Account £20,261.58 Total: £49,066.58
ee
Doc ID: 67e518f8572ce266c848cd4ab5aea4740db7a41a
The Norah Webber Charitable Trust
Scottish Charity Number: SC033664
Notes to the Accounts for the year ended 5th April 2025
- Bank Balances at the end of the year (5" April 2025) Represented by:
Royal Bank of Scotland Account £25,096.39 Evelyn Partners Ledger Account ~~£24,660.71~~ Total: £49,757.10
- Investments
The charity held a varied portfolio of investments during the year. A breakdown of asset classes and their values can be seen in the statement of balances in the accounts. Investments are shown at market value.
All investments were held as unrestricted funds. The charity does not hold any restricted or endowment investments. Investment income comprising dividends and interest of £34,840.13 was received during the year and is included in the receipts section of the accounts. Proceeds from the sale of investments amounted to £190,606.57, and purchases of new investments totalled £168,999.43.
- Trustee Remuneration No remuneration was paid during the period to any charity trustee or person connected to a charity trustee (2024:nil)
10. Related Party Transactions
- Thorntons LLP is a related party to Pagan Osborne & Grace Trustees Ltd. During the year, Thorntons LLP was paid £10,590 (2024:£9,075) for trust administration fees. There were no other related party transactions during the period.
11. Reconciliations on adoption of receipts and payments basis
Reconciliation of equity
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
|54|April 2024|
|£|
|Balance|Sheet|as|reported|under|FRS102|accruals|basis|1,232,279.56|
|Less|debtors|(629.31)|
|Add|liabilities|11,540.00|
|Statement|of|balances|as|reported|under|receipts|and|payments|basis|1,243,190.25|
|Reconciliation|of|surplus/(deficit)|for the|financial year|
|2024|
|£|
|Surplus|for year to|5|April 2024|reported|under|FRS102|accruals|basis|33,039.63|
|Debtors|(50.30)|
|Creditors|10,940.00|
|Purchase|of|investments|212,476.67)|
|Sale|of|investments|214,694.25|
|Gains|on|investments|(51,128.88)|
|Deficit|for year|to|5|April|2024|reported|under|receipts|and|payments|basis|(5,251.97)|
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Doc ID: 67e518f8572ce266c848cd4ab5aea4740db7a41a