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Alphaone Trust
TRUST ACCOUNT
For year to 5 April 2025
Scottish Charity Number: SC035507
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: Wright,[Johnston][&][Mackenzie] .[LLP] 319 St Vincent Street Glasgow G2 5RZ
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Alphaone|Trust|‘te|
|Contents|Page|No.|
|Trust|Information|2|
|Trustees’|Annual|Report|3-5|
|Independent|Examiner's|Report to|the|Trustees|6|
|Statement|of|Financial|Activities|it|
|Balance|Sheet|8|
|Notes|to|the|Financial|Statements|
|1|Accounting|Policies|9|
|2|Charitable|Activities|10|
|3|Trustee|remuneration|and|expenses|10|
|4|Investments|11|
|5|Debtors|11|
|6|Creditors:|amounts|falling|due|within|one|year|11|
|7|Unrestricted|Funds|12|
|8|Analysis|of|Net Assets|by|Funds|12|
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The following pages do not form part of the statutory accounts
Investment Schedule
13-15
1
\ \IN
Alphaone Trust
Trust Information - ae Address Wright, Johnston & Mackenzie LLP 319 St. Vincent Street Glasgow G2 5RZ
Independent Examiner Po
Azets Audit Services Chartered Accountants Titanium 1 King's Inch Place Renfrew PA4 8WF
Scottish Charity Number: $C035507
2
Alphaone Trust
Trustees’ Report
For the year ended 5th April 2025
The Trustees have pleasure in presenting their report and financial statements for the year ended 5 April 2025.
Status of Charity and Governing Document
The Alphaone Trust was set up by a Declaration of Trust dated 24 March 2004. The Trustis a Scottish Charity — number SC035507.
Appointment and induction of Trustees
The Trustees have power to assume additional Trustees. New Trustees undergo an induction process which helps them to understand the charity's purposes, financial position and current issues facing the charity.
Administration
The management of the Trust is the responsibility of the Trustees who are listed above. The Trustees administer the Trust's affairs at meetings arranged as necessary, but at least one meeting is held each year, at which finances are reviewed and decisions made on the recipients of grants. The day to day running of the Trust is undertaken by Wright, Johnston & Mackenzie LLP.
Statement on Risk
The Trust is open to fluctuations in Stock Exchange investments. However, the risk of this is minimised by taking advice and by investing in managed funds of mainly equities and corporate bond stocks.
The Trust has no long term commitments and accordingly regards any risk as being low, minimal and easily contained.
3
Alphaone Trust
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Trustees' Report (Cont'd)
For the year ended 5th April 2025
Objectives of charity
The objective of the charity is to benefit such recognised or registered charities, particularly but not exclusively those concerned with the welfare of animals, or for other purposes charitable in law as the Trustees shall in their absolute discretion think fit to support or establish.
Achievements and Performance
The Trustees have continued to make grants to charitable organisations. The Trust benefited from bank interest and investment income of £42,939.
Financial Review
The financial statements for the year are set out on pages 7 to 12. The Statement of Financial Activities on page 7 reflects total incoming resources for the year of £13,531 (2024 — outgoing resources of £34,890). The Statement of Financial Activities also reflects net decrease in funds for the year of £5,568 (2024 — increase of £30,707) after including loss on investments of £19,099 (2024 - gain of £65,597). Net assets at 5 April 2025 were £1,377,400 (2024 - £1,382,968).
Details of the Trust’s investments are outlined in Note 4.
The financial statements have been prepared in accordance with current statutory requirements and the Trust deed whose provisions have been observed in the investment of the Trust funds.
Reserves policy
The Trustees wish to be in a position to make grants as and when needed by suitable recipients complying with the objectives of the charity. In addition, the Trustees anticipate helping to fund larger projects in the future. In such circumstances it is the Trustees’ view that surplus funds arising should be retained as a reserve, investing these funds for the medium term as set out below.
Investment policy
The Trustees’ policy is to invest prudently with medium risk but with the aim of trying to preserve capital value and achieving the best possible income on that basis.
Bank account
The Trustees have considered OSCR’s recommendation that the charity holds a bank or building society account in the name of the charity. The Trustees have discussed and agreed that holding an account through their solicitors provides the Trust with additional safeguards such as cover from the Client Protection Fund which is administered and maintained by the Law Society of Scotland which can compensate clients against loss. Additionally, all clients accounts held by a solicitor must comply with the Law Society of Scotland Accounts Rules which regulate and monitor the funds held by law firms. Finally, it is very difficult for Charitable Trusts to open and operate accounts through High Street or Specialist banks. Operation of such accounts would create additional administrative costs without the safeguards and benefits offered when operating the account through the Trust’s solicitors. Accordingly, the Trustees have agreed to maintain the existing banking arrangements.
4
Alphaone[Trust]
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Trustees' Report (Cont'd)
For the year ended 5th April 2025
Grant Making Policy
The Trust makes grants to organisations that are involved in activities which comply with the objectives of the Trust Deed and which have obtained charitable status.
Taxation
The Trust is a charity and is recognised as such by HM Revenue and Customs for taxation purposes. As a result there is no liability to taxation on any of its income.
Plans for Future Periods
The Trustees have agreed to continue to seek donations to the charity and make grants to suitable recipients complying with the objectives of the charity. It is also hoped to make a larger donation or series of donations in the future, utilising reserves for this purpose.
Trustees’ responsibilities
The Charity Trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the Charity Trustees to prepare financial
In preparing the financial statements, the Trustees are required to:
e select suitable accounting policies and then apply them consistently;
e observe the methods and principles in the applicable Charities SORP; e make judgements and estimates that are reasonable and prudent; e state whether applicable accounting standards have been followed, subject to any material eprepare the financial statements on the going concern basis unless it is inappropriate to presume
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006 (as amended), and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Trustees
Trustee
5
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Alphaone Trust
Independent Examiner’s Report to the Trustees of The Alphaone Trust
| report on the accounts of the charity for the year ended 5 April 2025 which are set out on pages 7 to 12.
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 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 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) Regulations 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 8 of the 2006 Accounts Regulations have not been met, or
-
to which, in my opinion, attention should be drawn in order to enable a proper
—_ of the accounts to be reached.
Azets Audit Services Chartered Accountants Titanium 1 King's Inch Place Renfrew PA4 8WF
Date: 22 December 2025
6
Y |
Alphaone Trust
| Statement of Financial Activities | ||||
|---|---|---|---|---|
| Year Ended 5 April 2025 | ||||
| Unrestricted | Unrestricted | |||
| Funds | Funds | |||
| 2025 | 2024 | |||
| Notes | £ | £ | ||
| Income and Endowments from: | ||||
| Investments | ||||
| Dividends and interest | 42,840 | 43,134 | ||
| Equalisation payment | 287 | 693 | ||
| Bank interest | 99 | 259 | ||
| Total | 43,226 | 44,085 | ||
| Expenditure on: | ||||
| Charitable Activities | 2 | 21,073 | 72,644 | |
| Raising funds | . | 0 | 0 | |
| Investment management costs | 8,623 | 6,331 | ||
| Total | 29,696 | 78,975 | ||
| Net income before recognised gains/losses | 13,530 | (34,890) | ||
| Net gains/(losses) on investments | 4 | (19,099) | 65,597 | |
| Net Movement in Funds | (5,569) | 30,707 | ||
| Reconciliation offunds | ||||
| Total funds brought forward | 1,382,968 | 1,352,260 | ||
| Totalfundscarriedforward | 7 | 1,377,400 | 1,382,968 |
The notes on pages 9 to 12 form part of these financial statements.
7
Alphaone Trust
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Statement of Balances at 5 April 2025
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Notes 2025 2024
£ £ £ £
Fixed Assets
Investments 4 1,365,802 1,383,885
Current Assets
Debtors 5 0 0
Bank and cash 12,589 24
12,589 24
Creditors: Amounts falling due
within one year 6 990 942
Net Current Assets 11,599 -918
Total Assets less Current Liabilities 1,377,400 1,382,968
The funds of the Charity
Unrestricted Funds
Revenue Fund 7 1,377,399 1,382,968
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The financial statements on pages 7 to 12 were approved by the Trustees on LV + ALnnSow | LAVA and signed on their behalf by:
The notes on pages 9 to 12 form part of these financial statements.
8
v
Alphaone Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
- Accounting Policies
Basis of accounting
The financial statements have been prepared 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 in the UK and Republic of Ireland (FRS 102)(effective 1 January 2019) — (Charities SORP (FRS 102), UK Generally Accepted Accounting Practice (UK GAAP) including the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The charity meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in Sterling (£).
Income
Donations and legacies are recognised in the Statement of Financial Activities (SOFA) when received. Investment income is recognised when it is receivable. Grants are credited to the SOFA for the year to which they relate.
Expenditure
Liabilities are recognised as soon as there is a legal or contractual obligation committing the charity to the expenditure. Expenditure is accounted for on an accruals basis.
Donations are payments made to third parties in the furtherance of the charitable objectives of the Trust. Donations are accounted for when the Trustees have agreed to make the donation.
Investments
Investments, which are all quoted in the UK, are shown at market value in accordance with the Statement of Recommended Practice for Charities. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value or pyrchase date if later. Unrealised gains and losses are calculated between the market value at the year end and the opening market value or purchase date if later.
VAT
The Trust is not registered for VAT and accordingly expenses include VAT where appropriate.
Statement of Financial Activities
For the purpose of the Statement of Financial Activities as shown on page 7, funds are defined as follows:
Unrestricted funds comprise gifts and other income received for the objects of the charity without further specified purpose and which are available as general funds.
9
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Alphaone Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
| 2. | Charitable Activities | Charitable Activities | ||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Grants approved by | the Trustees in the year were as | |||
| follows: | £ | £ | ||
| BBC Children in Need | 30,000 | |||
| Beatson Cancer Charity | 10,000 | |||
| British Heart Foundation | 5,000 | |||
| Canine Partners | 5,000 | |||
| Cash for Kids | 3,000 | |||
| Dogs Trust | 10,000 | |||
| Guide Dogs Scotland | 5,000 | |||
| Hessilhead Wildlife | & Rescue Trust | 5,000 | ||
| Nordoff & Robbins | 1,000 | |||
| NSPCC | 5,000 | |||
| Salvation Army | 4,000 | |||
| Governance/management costs | 3,073 | 7,644 | ||
| 21,073 | 72,644 |
3. Trustee remuneration and expenses
Maritime Trustees Limited is the trustee company of Wright, Johnston & Mackenzie LLP, administrators for the Trust whose legal fees of £2,940 (2024 - £6,600) are included in note 2 and investment management charges of £8,542 (2024 - £6,251) shown in the SOFA. None of the other Trustees received remuneration or expenses.
10
”
Alphaone Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
| 4. | Investments | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Market value at 6 April 2024 | 1,383,884 | 1,347,974 | |
| Additions during year | 1,015 | 36,711 | |
| Disposals during year | 0 | (66,398) | |
| Realised Gains/(Losses) on investments | 0 | (1,019) | |
| Unrealised Gains/(Losses) on investments | (19,099) | 66,617 | |
| Marketvalue at 5 April 2025 | 1,365,801 | 1,383,884 | |
| Historical cost at 5 April 2025 | 1,091,392 | 1,121,868 | |
| 5. | Debtors | ||
| 2025 | 2024 | ||
| £ | £ | ||
| a) | ee | ||
| 6. | Creditors: amounts falling due within one | year | |
| 2025 | 2024 | ||
| £ | £ | ||
| Grants paid after year end | 0 | 0 | |
| Accruals - Azets fee 2023/24 | 990 | 942 | |
| 990 | 942 |
11
il
Alphaone Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
7. Unrestricted Funds
| Balance at | Incoming | Resources | Other | Balance at | |||
|---|---|---|---|---|---|---|---|
| 6 | April 2024 | resources | expendedgains/(losses) | 5 April 2025 | |||
| £ | £ | £ | £ | £ | |||
| Revenue | Fund | 1,382,968 | 43,226 | (29,696) | (19,099) | 1,377,399 |
Explanation of Funds
Unrestricted Revenue Fund- this represents funds available for general Trust purposes. All income is credited to the Revenue Fund.
8. Analysis of Net Assets by Funds
| Analysis of Net Assets by Funds | ||
|---|---|---|
| Total | ||
| Revenue | Unrestricted | |
| Fund | Funds | |
| a | £ | |
| Fixed Asset Investments | 1,365,802 | 1,365,802 |
| Current Assets | 12,589 | 12,589 |
| Current Liabilities | (990) | (990) |
| NetAssets | 1,377,400 | 1,377,400 |
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