The Onecity Trust ne city --kw4t Edlnbwgh Trustee's Report and Financial Statements Forthe year ended 31 March 2025 Registered charrty number SC034165
The OneCIty Trust Financial Statements to 31 March 2025 Contents Pages Trustee's Report...................... . Statement ¢f Trustegs responsibilities ....................................- Independènt Examin$ Report to thè Trustees......... .10 Statement of Financial Activitie5.................................................................. ........ ... ....... li Balance Sheet..........................................................-.. -....- . 12 Cash Flow Statement.................................-..-..-....-.................. 13 Notes to the Financial Statements........................... ... .... ........ .... ... . ...... ... .... . . .14
The Onecity Trust Financial Statements to 31 March 2025 Trustee's Report The Trustee submits its rewrt and independently examined financial 5tatement5 for the year ended 31 March 2025. Reference and Administrative Information Charity Name The Onecity Trust Registered Charity Number SC034165 Trustee Onecity Limited The directors of Onecity Limited (SC32(X)23} during the reporting period and on the date the report was approved were: Clo The Lord Provosvs Suite ty Chamber5 Hgh Street Edinburgh EHI IYJ Independent Examiner Ciiy of Edinburgh Council Waverley Court 4 East Market Street Edinbur8h. EH8 8BG Investment Advisors LGT Wealth Management UK Capital Square 58 Morrison Street Edinburgh EH3 8BP Bankers Royal Bank of Scotland PIC 36 St Andrewsquare Edinburgh EH2 2YB
The Onecity Trust Financial Statements to 31 March 2025 Structure. Governance and Management Structure The OneCIty Trust Is a charlty reglstered In Scotland that was establlshed by a deed of trust dated 7 March 2003. Governante Onecity Ltd is Ihe current Trustee of the Trust. Board members meet three to four times peryear and have responsibility for the approval of strategy. annual objectives. capital and revenue budgets, changes to profe55ional adviser5 and the grant distribution mechanism. They 4150 hgve responsibility for approval of policies such as investmenti Brant makin& risk assessment and the size of the seNe$ of the Tnjst. Managernent The day-to-day activltles of the Tmst are managed by Oneclty Ltd. whlch oversees the development, finance, admini5tratioll and Brant making activities. The Dirt015 of Onecity Ltd have direct responsibility for the management of theTrust, with administrative supwrt provided where possible by Officers of the City of Edinburgh Council. The grant making activities of the Trust are determined by the Directors. Appointment, Induction, and Training of Trustees Directors may be recruited to the Board of Onectty Ltd under the temis of its Memorandum and Articles of Association. In appropriate Circumstan5. the powerto appoint trustees to the Onecity Trust rests with the Protectorof the Trust, currently the servi Director: Finance and ProcuTement of the City of Edinburgh Council. Board members of Onecity Ltd are selected tD provide a breadth of skills, experience, and influence acr05S the main areas of activity of the Trust namely the thlrd sector. marketlng, fundraisln& events, grant m3klng and financial management togetherwith associated areas such as legal, information technolo8y and human resources. New Board members of Onecity Ltd receive an introductory packa8e of information about the Trust including a copy of Its Deed of Trust and Its latest set of annual accounts, as well as a brieffing from the Chair, as part of the induciion programme. In view of the wide skills base of the Dirertors, st is consldered that there is no requirement forformal periodictraining. Ad hoc training can be provided when the need is identified. Risk Management Board rnembers of Oneclty Ltd are responslble forthe management of r15ks faced by the Trust. Risks are identwfied, asse55ed and controls established on an ongoing basis. In addition, a formal in-depth review of the risk management prO$se$ of the Trust is undertaken every three years. The key controls of the Trust include: Formal strue(ure and agendas forTrustee meetings Business plannln& budgetin8, and management accounting Established organisational structure and lines of reportin8 Formal written policies including authorisation and approval procedures Annual review of investrnent performance and existing policy
The Onecity Trust Financial Statements to 31 Marth 2025 Risk Management- continued The risks to which the Trust exposed are discussed at Board meetings and the Directors believe that they have taken measures that are appropriate to minimi5e those risks. The Board is involved in setting and reviewingthe grant making criteria, and a55ociated system5, Wlth the objeciive of providing a transparent system that meets the Trusys objectives and that of its donors. Objectives The Trust was established as a result of the Lord Provost of Edinburgh's Commission on soc1 Exclusion. This considered the question of who experience5 social exclusion in the city and, more importantlyi what should be done. A key recommendation was the formation of an -inclusion trusf in the fom of a community foundatlon that would channel fvnds and ideas from Edinburgh's businesses and individuals. for the benetit of the city. The Trust Deed has the stated purpose that Yee5 shall hold the Trust Fund and the Income of it to pay and apply the same for the purposes of advancin& facilitatin& and promoting the education, social welfare. hurnan rights and the tackling of extreme inequalities in income and alleviation of poverty among persons within the area of benefrt." The area of benefit being defined as the local authority aa of the City of Edinburgh Council. Fundwai5ing Activities The Lord Provost's eighth Burns Supper In ald of the OneCItyTrust, whlch was arranged for 24 January 2025, a5 unfortunatety cancelled due to a red weather waming caused by Stomi Eowyn. This resulted in no proceeds from the fundraising event itseFF, with ticket sa5es being refunded or carried forward to the 2026 event. The Cjty of Edinbur£h Council awar(led a contrdct toTravis Perkins on l April 2015, which indudes community benefit clause, whereby 1% of contract spend will be provided by Travis Perkin5 towards community projects based in areas with a high density of Council housin& The Onecity Trust was approached by the City of Edinburgh Council and Travis Perkins Managed Service5 and became the route for Communrty Legacy Funding. The Trust is grateful for the continuingsupport of the City of Edinburgh Council and Travis Perkins Manased seiCe5 forthe Community Benefit funding of which £48,089 was awarded in year. Based on the value of spend by the City of Edinburgh Council on the contratt between April 2025 and March 2026, Travis Perkins have estimated a fund of approXImate £50.(X)O of thndingfor grant awards in the comlrÉ year. At the Travis Perkins 'BetterTogetherf Awards ceremony held at Silverstone on 18 March 2024, the Trust won the'Environment' award for projects such as the cornmunity gardening project 'Good Roots, which reIved funding in 2023. The Trust was awarded a trophy and a Prize of £5.CKK). which was received August 2024. For other Cornmunity Benefit fundlng, the Trust has £5.IXQ which ha5 been carried forward to form part of the 2025 Main Grant Funding Programme.
The Onecity Trust Financial Statements to 31 March 2025 Fundraising Artiyities- continued The Trust has also benefrted from the generosity of various donors including.. £100 from ECGC £I,ICM) via St John Scotland £1,0 from Royal Order of Scotland £2,283 from donations made via the Lord Provost's Engagement questionnaire £1,213 from various donations via the One City Trust website During 2024125, prOed$ of around £191 have been raised in royalties following the publication of Yhe People's Cty bool In January 2022. Achievements and Performance Gmnt Muking The accumulated reserves were used with the donations. fundraising income, community benefit fundin& and the Travbs Perkins fund to support the grant making for 2024/25. This has been used to award grants (see note 3) to thirteen or8anisatlDns to a 5urn of £112.832: £59.742 from the Main Grant Fund/Rapid Action Fund, £53,089 from Travis Perkins.. Main Grant Fund Ra id Action Fund £2.000 was awarded to Pennywell Pantry for contrilxrting towards the running costs of the organisation and purchase of Items whlch allows for membership fees and donations to pay for food for the pantry. £8,462 was awa rded to Llft Mulrhouse Millenlum Centre to employ a dedicated Housing officer, who would a5SlSt clients dealing with homelessne issues within Muirhouse and EH4 and EHS areas. £7.CKJO wa5 awarded to The Ripple Projett for their referral-based group for children aged 5- 13 years with adverse childhood experiences or experiencin8 distress and difficulty at school by matching them with a friend within the Restalrig, Lochend and Craigentinny areas of the city. EIO.000 was awarded to Bri8ht Light Counsellin8 to provide ten counselllng sessions for twenty-flve familles livlng in temporary accommodationthomelessness across the city. £8,863 was awarded to Care for Carers to extend the role of the sUPPOrt team administrator to aid unpaid adult carer5 across Edinburgh with waiious issue5, e.g., financial support and housing applicatlons. £9,995 was awarded to Venture Stodand an outdoor based personal development programme for young adults116 - 30 yr51 who have been impacted by homete55ness or issues resu5ting from the housing crisis across the city. £6,398 was awarded to Community One Stop Shop in partnership with Travis Perkins fundlnB for thelr Baby Bank and Calders Community Supportservice. both launched in 2023 in The Calders and Broomhouse areas of the city- £7,025 was awarded to ELREC to extend communlty outaCh Into the Chinese and Hindi communlties of the city relating to energy efficiency and financial support.
The Onecity Trust Financlal Statements to 31 March 2025 Gront Muklng- continued Travis Perkins £9,993 was awarded to Leith Goodtree5 Neighbourhood Centre foitheir empowering youth initiative for vulnerable children and young people. Nourishing meals and free activities are to be offered during five weeks of school holldays to alleviate financial strain for families within the South-East of the City of Edinbursh. £3,602 was awarded to Community One Stop Shop in partnership with Onecity Trust fundin8 for their Baby Bank and Calder5 Cofflmunity Support Service, both launched in 2023 in South-We5t areas of the city. ÉIO,000 was awarded to Edinburgh Sthool Uniform Bank to assist with the provision of school uniforms, footwear, and e55entials to children from lower income families, livlng across the Ctty of Edlnburgh. £9.494 was awarded to Medla Educatlon for the dellvery of a filrnmaklng and communlty development project with peorjle living in Edinburgh affected by the housing crisis. £10,000 wa5 awarded to The Caley (Royal Caledonian Horticultural Society). The Caley works with its volunteers. local families, local sd)ools, and referral groups from Four Square to grow vegetables forthe Four Square Café onsite at Saughton Park. Surplus seasonal food will be distributed through Four Squares services to their homeless and at risk of homelessness Se1 users In the South-west of the city. £IO,OIXl was awarded to 6vr Edinburgh ty Youth Cafe for the pmvi5ion Of a baby support seiCe for young parents between the ages of 26- 30 years, their babEs and toddlers via group or individual sessions. Other Since 2017, the Trust had held funds raised by the'A statue for Elsie Inglis. Campaign, which was started by a group. including the then Lord Prov05t, with an objective to raise arca £lOO,O(X), to have a statue of Dr Elsie Inglis commissioned and sited on the HiEh Street, Edinburgh. Following a nurnber of fundraising events, various talks and a crowdfundlng page, total monles of £49,376. plus Gift Aid. were raised on the campalgn's behalf and held in the One City Trust bank account. The fundrai5ire monies were transferred to campai8n's acc¢unt from the Onecity Trust in 2024125 with the associated Gwft Aid transferred in March 2025. Plans The Lord Provost and Presldent of the Trust. Robert Aldridge continues to host the Lord Provosts Burns Supper, raising funds for the Trust for the grant awards. The Lord Provost also encourages donations via his civic engagement questionnaires for civic events he attends or h05tS. The Trust will continue to explore opportunities afforded frorn Community and Legacy funding offered by companie5 as It believe5 (t 15 in a u nique position to delivef real benefits. The Trustees are comrnltted to rdi5illB awareness of the Trusts activities to raise funds to increase its grant making capacity and to promote r(s work, particularly in the use of social media to highlightthe projects and the funding they have received. With the T¥avis Perkins Managed Servio5, Community Benefit funding and the draw-down of cash from the Endowment the Trust expects to award grants in the region of £IIO,CW for 2025126.
The OneCIty Trust Flnanclal Statements to 31 March 2025 Support The Trustees acknowledge and thank the City of Edinburgh Council for its continued* generous support wrth adm inistration of the Trust. Investments. Pofiryp and Perfom?ance The Trustee has absolute discretion in the investment of funds of the Trust and has agreed an investment strate8y in conjunction with tt5 appointed investment adviser. The investment objettre was agreed to maximise total retum with a rnedium-hvdh risk profile. Currentlyi the Trust's money is either invested in 8 multl-asset fund {Volare Offshore Income Fund Z Incl or held In cash. Total investments stood at £776,584 at 31 March 2025 compared to £802.097 at the previous year end, a fall in value of the total investment of £25.513. This decrease primarily occurred due to worldwide political upheavals causing some short-term market volatility. £23,303 was earned in year through diwdends and investmeftt interest, with £24,135 drawn down to support grant rnakin& Reserves Policy The Statement of Recornrnended Practice: Accounting and Reportin8 by Charities defines -reserves" as that part of a chartvs Income funds that Is freely available. Thts deflnltion normally excludes restricted funds a5 well as both permanent and expendable endowrnent fund5. The Trustee define5 "free reserve< as the balance available in the Unrestricted Fund. The Trustee has assessed the requirement for free reseeS of the Trust in light of the likely future income and expenditure streams. As the Trust has no k)ng-term commitment5 beyond it5 grant making, the agreed objective is to retain sufficient free reserve5 to meet its obllgations and to ensure financial stability. As a minimum the Trust needs to hold a small amount of reseNes (estimated at around £2.(KKI) to coverthe ongoing costs of generating funds, governance and support costs. As at 31 March 2025 the free reserv.es of the Trust stood at £2.00012023124 £2,CMJO). Disclosure of information to independent examiner The Directors who held at the date of approval of this Trustee's Report confimi that. so far as they are each aware. there is no relant infi>miation of which the TrusV5 independent examiner s unaware: and each Director has taken all steps that they ought to have taken as a Direttor and arltyTrUstee to make themselves aware of any relevant infomation and to estsblish that the Trusvs examiner is aware of any relevant information.
The Onecity Trust Flnanclal Statements to 31 Marth 2025 Independent Examination In view of the cost of using an Auditor. the Trustee has again decided to opt for an Independent Examinerfs Report. This meets OSCR'S requirements a5 the Trust has income under £500,000 per annum and asset5 before deduction of liabilities of below £3.26m. On behalf of the Trustee Chair For Onecity Limited
The OneCityTrust Financlal Statements to 31 March 2025 Statement of Trustee'5 responsibilitie5 in respect of the Truste¥s annual report and the thnancial statements Under charity law, the Trustee and thus each of the Directors of the company acting collectively as the Trustee Is responslblefor preparlngthe Trustee's Report and the flnancial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the net income or expenditure for that period. In preparing these financial statements• generally accepted accounting practice entails that the Trustee: 5eleC(s surtable accounting policies and then applies them consistently,. Observes the methods and principles in the applicable Charities SORP; Makes judgements and estirnates that are reasonable and prudent. States whether applicable accounting standards have been folkMed,subject to any material departures being disclosed and explained in the financial statements, and Prepares the financial statements on the going contsm basis unless it is inappropriate to presume that the charity will continue its activities. The Trustee is required to act in accordantr with the Trust Deed of the charty, within the framework of trust law. It Is responsible for keeplng proper accountlng records. suffident to dlsclose at any time, with reasonable accuracy. the financial position of the charity at that time and to enable the Trustee to ensure that, where any statement of accounts are prepared by it under section 44 of the charities and Trustee Investment IScotland} Act 2005, the Charity Accounts (Scotland) Regulations 2006 las amended), those staternent of accounts comply wlth the requlrements of regulations under that provision. They have general responsibility fortaking such steps as are reasonably open to them to safe8uard the a55ets of the charity and to prevent and detect fraud and other irregularrties. The Trustee is responsible for the rna1ntenan and integrity of the financial and other information included on the charity's website. Legislation in the UK. governing the preparation and dissemination of financial staternents may differ from legislatlon In otherjurisdictions.
The Onecity Trust Financial Staternents to 31 March Z025 Independent Examinerfs Report to the Trustees of OneCityTrust I report on the accounts of the charity for the year ended 31 March 2025 which are set out ot) the followin8 pa8e5. Respertlve Responsibilities of Trustees and Examiner The charitys trustees are responsible for the preparation of the accounts in accordance with the terms of the Charity and Trv5tee Investment {Scotlandl Act 25 and the Charities Accounts (Scotlandl Regulations 2Q)6. The charity trustees consider the audit Tequiretnent of regUtIon 1011) la) to Ic) of the Accounts Regulations does not apply- It 15 my responsibility to examine the accounts as required under section 44111 Ic) of the Act and to state whether matters have Lume to my attention. Bosjs of Independent Eyaminerfs Statement My examination is carried cut in accordan with regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examlnation includes a reviewof the accounting records kept by the charity and a cornparison of the accounts presented with those record5. It a150 includes consideration of any unusual items or disclosures in the accounts and seeks expIanation5 from the trustees concerning such matters. The prOdureS undertaken do not provlde all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given bythe accounts. In the course of my examination, no matter has corne to my attention: l. Which gives me reasonable cause to believe that in any material respect the iequiretnents: to keep accountin8 records in accordance with Sectton 44 (1) la) of the 25 Act and Regulation 4 of the 2006 Accourrts Regulations, and to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met. 2. To which. in my opinn, attention should be dravm In order, to enable a proper understanding of the accounts to be reached. Signed: Date: IlillTr2r Name: Relevant Professional Boty. Institute of Chartered Accountants of Scotland Address: The City of Edinburgh Council. Waverfey Court, 4 East Market Street, Edinburgh, EH8 8BG io
The Onecity Trust Financial Statements to 31 March 2025 Statement of Financial Activities for the year ended 31 March 2025 Note Totsl fund5 2024 Unrestricted fund Expendable Endowment fund Totsl funds 2025 Income and endowmentsfrom: Donations and legacies 64.949 58.786 58,786 Cpther trading activities 52.646 672 672 Income from investment 24,814 23.790 23,790 Total Income and endowment 142.409 83,248 83,248 Expendlture on: Raisingfvnds.. Costs of generating funds Choritoble artivitie5.' L8,794 3.309 3.309 Grant awards 173.582 112.832 112,832 Donations 5iX) Governance Costs 7.222 6,273 6,273 Total expenditure 200.098 6.273 116.141 122,414 Net Incomel(expenditure) and net movements In lunds before galn5 and 1055es on Investments 157,6891 16,273) 132,893) 139,1661 Net galns /110s5&s) on Investments 53,406 119.1091 119.1091 Net Incorne / lexpenéiture) 14283) 16,273) 152.CrfJ2) 158.2751 Transfer between funds 6,273 16.273) Net movement in funds 14,2831 158,2751 58,2751 Total funds brought forward 850.744 844,462 846,462 Total funds carried forwwd 846.461 2,OiX) 786.187 788.187 11
The OneGty Trust Financial Statements to 31 Marth 2025 Balance Sheet for the year ended 31 March 2025 Note Total Funds 2024 Unrestrirted Expendable fur)d Endowmenl Fund Total Fund5 2025 Flxed assets: Investments 802,097 776,584 776,584 Current assets: Debtors 8.717 3,945 3.945 Cash at Bank 37.148 2.OCKI 15,7CQ 17,71XJ 45.865 19.645 21.645 Uabllltle& Creditors falling due wlthin one year 11.5011 110,0421 (10.042) Net current assets 44.364 I0 9.603 11.603 Net assets 846,461 2,OiKI 786,187 788,187 The funds of the eharlty: io Restrirtpd funds Unre5tritted funds 2,0 2.000 Expendable endowment fund 844.461 786,187 786.187 846.461 786,187 788.187 The notes at pa8es 14 to 19 forrn part of these accounts. Approved by the trustees on 2025 and signed on their behalf by.. l E)eLomkw 202£ Chalr of Trustees 12
The Onecity Trust Financial Statements to 31 March 2025 Cash Flow Statement for the year ended 31 March 2025 Total Funds 2024 Tolal Funds 2025 sh flows from o eratin activiti li Cash f lows from operating activities for One City Trust {82,933) 143,545) Cash flows on behalf cf Elsie Inglis Fund {49,415) 138) Net cash receivedllusedl in oper4tin8 artP4ities (132.348) 143.583) Net cash prcvléed by investing artivities 24.057 24,135 Change In cash ahd cash equlvalents kn year 1108,2911 119,448) Cash and cash equivalents brought forward 145.439 37.148 Cash and equivalents carried forward 37.148 17.700 Net inclease l (decreasel in cash and cash equivalents {108291) I.448) 13
The Oneclty Trust Flnanclal Statements to 31 March 2025 Notes to the Financial Statements Accountln8 pollcles The following accountlng pollcles have been applied consistentty in dealing with items which are considered material in relation to the finanaal statements. 1.1 Basls of preparation and a5ses5ment of going concern The financial statements are prepared underthe histOTical cost convention as modified by the re- valuation of investrnent assets. The flnancial statement5 have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their ac£ounts in actordance with the Financial Reporting Standard applicable in the UK {FRS 1021 i55ued on 16 July 2014 and the Financial Rewrting Standard applicable in the United Kingdom IFRS 102), the Charities and Trustee Investment {Scotlandl Act 21XIS and the Charitles Accounts (Scotlandl Regulations 2006 (as amended). 1.2 Income Recognition All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be receNed and the rnonetary value of incoming resources can be measured with sufficient reliability. Donated seryices orfacilities are included in incoming resources when the benefit to the charity is reasonably quantifiable and measurable. They are valued by the trustees atthe amount the charty would have been willing to pay forthe seryices orfacilities on the open market. 1.3 Expenditure reco8nition All expenditure is recognised on an accrual basis and Is recognised when there is a legal or constructive obligation to pay for goods and services. All costs have been directly attributed to the relevant category of resources expended. Grants payable are accounted for when eitherthe recipient has a reasonable exFectation that they will re1ve a 8rant and the trustee has agreed lo paythe grant without condition, orthe recipient ha5 a reasonable expectation that they will re1ve a grant and any condition attaching to the 8rant is outside the control of the Trust. The Twsi is not lStered for VAT and all expenditure categories therefore include irrecoverable VAT. 1.4 Funds Strurture Donations which have been received for the establishment of a long-term investment portfolio for the charity are added to the expendable Endowment fund. Donations received which have restrictions imposed by the donors are classified as restricted funds, grants payable from these funds are made in accordance with the d0rrfS wishes. Further detalls of each fund are disclosed in note 10. 1.5 Flxed Asset Investments Investments are stated at market value as at the balance Sheet date. The Statement of Financial Activities includes the net gains and105ses arising on revaluatM?n and disposals throughout the year. 14
The Onecity Trust Financial Statements to 31 March 2025 Notes to the financial Statements 1.6 Realised gains and1055es All gains and losses are taken lo the Statement of Financial Activitie5 as they arise. Realised ga ins and losses on Investments are Galculated as the dlfference between sale5 prOed5 and opening rnarket value (purchase d2te if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening mat*et value {or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities. 1.7 Taxatlon The Trust is recognised by HM Revenue and Custorns as a charity for the purp05e5 of SectiOTS 505, Income and Corporation Taxes Act 1988 and is exempt from corporation tax on Its charitable activiiies. Incoming Resources Totsl funds 2024 Unrestrkted fund Expendable Endowment fund Total funds 202S Donat5 undjegacies Donations 13,540 5,697 S3,089 5,697 53,089 Community Benefit Funding 51.4( 64.949 58,786 58,786 Other trading uctivitie5 Burns Supper 49324 Cofflmitment Fees 464 Book Sponsorshlp 2.262 191 191 othertradin8 artr¥ities 597 Tatsl 52.646 672 672 Dividends and Investment Interest 24.148 23,303 23,303 Bank Interest Total 24,814 23,790 ,790 Total inc4)me and endowments 142,4(YJ 83,248 83,248 Is
The Onecity Trust Financial Statements to 31 March 2025 Notes to the Financial Statement5 Expendrture Total Funds 2024 Unrestrlcted fund Expendable Endowment fund rotal Funds 2025 Expendltuie on: Ralsin urns Supper Book SporLsorshlp Total 18,794 3,309 18,794 3,309 3,309 Main und RE7pid Action FundAwards.' Pennywell Pantry Lift Muirhouse Millenium Centre 2,000 2,000 8,462 8,462 The Ripple Project Bright Light Counselling Care for Carers 7,10 iO.LKiO 10.ocmj 8,863 8.863 Venture Scotland 9,995 9,995 Community One Stop Shop ELREC 6,398 6,398 7,025 7.025 Traw5 Perkins Awards Goodtrees Nehbourhood Centre Community Onestop Shop Edinburgh School Uniform Bank Media Education 9,993 9,993 3,602 3,602 i0.ot 10,000 9,494 9.494 10,0 10,000 The Caley (Royal Caledonian Horticultural Society) 6 Edinburgh City.Youth Café 10,0 Total Grant Awards 173582 112,832 I1232 Muirhou5e Youth Development 503 Totsl Donations Govemance Costs Trustee lllsuran 320 55 55 Inve5trnent Management Fee5 Other expendlture Totsl fjovernanre Costs 5.211 5,572 5,572 1.691 646 7222 6273 6.273 Total Resources expered 200m8 62T3 116.141 122.414 16
The OneCIfy Tr£ Flnancial Statements to 31 March 2025 Notes to the Financial Statements Allocatlon of supports eosts and overheads There were nosupport costs during the current financial year or in the previous year. Staff and trustee costs and expenses The Trust did not employ any staff during the period. The Trustee received neither remunerdtion nor expenses durin8 the current or previous period. Auditorf5 Remuneration As a result of the Trustee's decision for an Independent Examinerfs Report, no audit fee has been Incurred for the year. Investments . The Investment portfolio of the Trust is managed by LGT Wealth Management Limited. 2024 2025 Market Value at: Beginning of period Investment Income Transfer to Bank Managementfees Net sains and {105ses) 753,811 24,148 {24,057 {5,211) 53,406 802,097 23,303 (24.1351 (5.5721 (19.109 At the end of period 802,097 776,584 F4istorical cost 682,040 677.100 Z024 2025 Represented by: Investment trust5 and unittrusts 777,716 24,381 753,IM)7 23,577 Cash and fixed lrttere5t securities Total 802,097 776,584 Investments LGf Wealth {Offshore Income Fund Z Inc) Cash on deposit 777,715 .753,Q07 23.577 24,381 TOL31 8D2,097 776.584 17
The Onecity Trust Financial Statement5 to 31 March 2025 Notes to the FinancFal Statements Debtors 2024 2025 Administration of Communit¥ Benefit Funds Prepaytnent of Burns Suppervenue Prepayfnent of trustee insurance 945 3,000 55 Bums Supper 2024 Gtft Aid 50 5,110 Elsie InElis Fund overpayment 8,717 3,945 Creditors: amount5 due within one year 21f24 2025 Fast H05ts- Web Hosting and Support Burns &Jpper 2025- ficket Refund Yums &Jpper 202s- ficket.Income Carried forward Gift Aid (Elsie Inglis Fund) 38 126 9,878 1,501 i.soi 10.042 During 2024125. total monles raised on behalf of the'A SLitue for Elsie Inglls, campaign were paid to the campaign's bank account. An overpayrnent of £38 was made and a refund was received in May 2024. 10 Analysi5 of charitable funds Balance brouBht forward Resources Transfers re50urre5 exPered Gains and losses Balance carried forward a) Unrestrlcted 2,000 (6,273) 6,273 bl Expendable Endowment 844,461 83.188 1116.0811 162731 119,109} 786,187 Total 846,461 83,188 {1223541 119.109) 788,187 a) Unrestricted Fund: The Ltnrestricted funds are available to be spent for any of the purposes of the charity. b) Expendable Endowment Fund: Unless donors state otherwise the presumptkjn Is that donatlons received and other income will be added to the expendable endowment fijnd. The Trustee has the freedom to decide whether funds are added to or withdrawn from fixed asset investments. The fu nds may be used to support community groups and charities with the overall airn of tad(ling social exclusion as well as the general running ot the charity. 18
The Onecity Trust Financial Statements to 31 March 2025 Notes to the Yinancial StatemEts 11 Reconclliation of net movement in funds to net cash flow from operatlng activltles 2024 2025 Net movement in funds (4.2831 124.148) {58,275) {23.303> 29,707 Dedutt investment incorne Add drawdown from investment 29,267 Add back {gain5) n055es on inve5trnents DeCree / {increaspl in debto Increase / Idecrease} in creditor5 153.406) .17.8461 147.875) 1108.291) 19,109 4,773 8,541 {19,448 12 Reserves Pollcv The Board agreed its futvre approach to reserves over the next fina ncial year in light of the likely future income and expenditure streams. As the Trust has no long-temi commitments beyond its grant makin the agreed objettive is to retain sufficient free reserves to meet its obligations and to ensure financial stablllty. As a mlnlmum thelrust needs to hold a small amount of reseNes (estlmated at around £2,CWI to cover the ongoiTtg costs of generating funds, Eovemance and support Costs. 13 Related party transarticns There were no related party transactions. 19