Trustees Annual Report including Annual Receipts & Payments Accounts
for
The Alice McCosh Trust
for the period
6[th] April 2024 to 5[th] April 2025
Scottish Charity No: SC035938
Table of Contents
| 1. | Reference & Administrative Information | 3 |
|---|---|---|
| 2. | Trustees Annual Report | 4 |
| Structure, Governance & Management | 4 | |
| Objectives & Activities | 4 | |
| Achievement & Performance for the year to 5th April 2025 | 4 | |
| 3. | Financial Review | 5 |
| 4. | Statement of Trustees Responsibilities | 5 |
| 5. | Annual Accounts | 6 |
| Receipts & Payments Accounts - Year Ended 5th April 2025 | 6 | |
| Statement of Balances – Year Ended 5th April 2025 | 6 | |
| Notes to the Accounts | 7 | |
| 6. | Independent Examiner’s Report on the Accounts | 8 |
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1. Reference & Administrative Information
Charity Name: The Alice McCosh Trust Scottish Charity No: SC035938 The Charites Principal Address: 49 Cluny Street Lewes Sussex BN7 1LN Charities Trustees on date of approval including office held: Names of other trustees during the period:
None
Independent Examiner:
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Bankers:
Barclays Bank plc Leicestershire LE87 2BB
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2. Trustees Annual Report
Structure, Governance & Management
Governing Document:
The Charity is governed by a Trust Deed under which it was constituted on 14[th] September 2006.
Trustee Recruitment & Appointment:
Trustees are appointed as per item 5 of the Trust Deed – “The Trustees shall be entitled, by way of a resolution passed by majority vote at a meeting of the Trustees, to appoint any individual as a Trustee”.
Objectives & Activities
The Charities Charitable Purpose:
As set out in the ‘Constitution’ and ‘The Charities and Trustee Investments (Scotland) Act 2005’ the purpose(s) of The Alice McCosh Trust are “to advance education by providing or assisting with grants for work or study relating to natural history and/or the environment”.
Any other purpose that may reasonably be regarded as analogous to any of the preceding purposes.
Summary of the main activities in relation to these objectives:
The charity's objectives in relation to the above are:
-
⚫ To provide or assist with grants for work or study related to natural history and/or the environment
-
⚫ To accept grants, donations and legacies of all kinds.
-
⚫ To carry on any other activities which further any of the Trust Purposes.
Achievement & Performance for the year to 5th April 2025
Additional funds were raised, and two grants were awarded.
| Recipients Name | Name of Project | Institution | Amount (£) |
|---|---|---|---|
| Characterising the microbiome of Red campion – sex differences and disease |
University of Exeter | 1,000 | |
| Non-invasive methods to study endangered sharks | Marine Research and Conservation Foundation |
1,000 |
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3. Financial Review
Statement of Reserves Policy:
The trustees consider it desirable that annual expenditure is met out of annual income. It is the objective of the trustees to maintain the reserves to build capital and therefore make grants from income from investments.
Details of any deficit :
There is no financial deficit this year on the bank account, the deficit is adjustments on investments.
Details of Donated Facilities & Services:
The Charity benefits from the time given by all the Trustees to the running of the Charity, including monitoring, supervision and meeting times.
4. Statement of Trustees Responsibilities
The members of the Charity must prepare financial statements which give sufficient detail to enable an appreciation of the transactions of the Charity during the financial year. The members of the Charity are responsible for keeping proper accounting records which, on request, must reflect the financial position of the Charity at that time. This must be done to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006.
They are also responsible for safeguarding the assets of the Charity and must take reasonable steps for the prevention and/or detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf by:
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5. Annual Accounts
Receipts & Payments Accounts - Year Ended 5th April 2025
| Receipts Notes Donations Receipts from Fund Raising Activities Gift Aid Income from Investments other than land and buildings 1 Proceeds from Sale of Investments |
Bank Account Brewin Dolphin Total 2025 Total 2024 2,955.00 0.00 2,955.00 2,101.00 0.00 0.00 0.00 0.00 420.00 0.00 420.00 284.00 0.00 2,758.00 2,758.00 2,528.00 0.00 19,731.81 19,731.81 0.00 |
|---|---|
| Total Receipts | 3,375.00 22,489.81 25,864.81 4,913.00 |
| Payments Expenses from Charitable Activities 2 Independent Examination Investment management costs Purchase of Investments |
2,000.00 0.00 2,000.00 6,724.00 125.00 0.00 125.00 125.00 0.00 794.51 794.51 721.65 0.00 19,981.03 19,981.03 0.00 |
| Total Payments | 2,125.00 20,775.54 22,900.54 7,570.65 |
| Net Receipts/(Payments) Transfers Between Funds |
1,250.00 1,714.27 2,964.27 (2,657.65) 0.00 0.00 0.00 |
| Surplus/(Deficit) for Year | 1,250.00 1,714.27 2,964.27 (2,657.65) |
| Statement of Balances – Year Ended 5th April Balances at Start of Year Surplus/(Deficit) for Year Valuation Adjustment Brewin Dolphin 3 |
2025 Bank Account Brewin Dolphin Total 2025 Total 2024 426.69 106,505.25 106,931.94 80,257.29 1,250.00 1,714.27 2,964.27 (2,657.65) 0.00 (3,110.08) (3,110.08) 29,332.30 |
| Balances at End of Year | 1,676.69 105,109.44 106,789.13 106,931.94 |
| Other Assets –See note 3 Liabilities –No Outstanding Liabilities |
Financial Statements approved by the Charity and signed on its behalf by:
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Dated: 2.12.2025
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Notes to the Accounts
| 1. | Income from investments other than land and | 2025 | 2024 |
|---|---|---|---|
| buildings | |||
| Brewin Dolphin Interest and Dividends | 2,758.00 | 2,528.00 | |
| Total | £2,758.00 | £2,528.00 | |
| 2. | Expenses from Charitable Activity | ||
| Grants Made | 2025 | 2024 | |
| Two grants were awarded. | 2,000.00 | 6,724.00 | |
| (For details see page 4) | |||
| Total | £2,000.00 | £6,724.00 |
3. Summary of funds under Brewin Dolphin management – Market Valuation 5th April 2025
| pril 2025 | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| UK Sovereign Bonds | 7,561 | 2,448 | 4,787 |
| UK Equities | 19,944 | 23,141 | 22,737 |
| North American Equities | 40,240 | 38,219 | 27,892 |
| Developed Asia ex Japan Equities | 4,554 | 4,662 | 4,608 |
| Global Equities | 3,240 | 6,870 | 11,660 |
| Developed Europe ex UK Equities | 4,696 | 4,789 | 4,556 |
| Japanese Equities | 2,278 | 2,436 | 2,317 |
| Absolute Return | 3,408 | 6,801 | 7,044 |
| Global Property | 2,646 | 3,050 | 2,788 |
| Global IG Corporate Bonds | 5,951 | 3,247 | 6,096 |
| Cash Funds – Security | 4,198 | 4,394 | 3,548 |
| Other Investments | 1,128 | 1,485 | 1,923 |
| Gilts | 0 | 2,234 | 0 |
| UK IG Corporate Bonds | 2,742 | 2,729 | 0 |
| Global Index-Linked Bonds | 2,518 | 0 | 0 |
| Total | £105,109 | £106,505 | £99,956 |
Trustee Remuneration and Related Party Transactions
The Trustees did not receive any remuneration or expenses during the year.
Nature & Purpose of Funds
The statements of account for the year show the financial figures for the Charity. All investments and monies raised are restricted for the sole use of the Charity and its running costs.
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6. Independent Examiner’s Report on the Accounts
Report to the trustees of The Alice McCosh Trust Registered charity number SC035938 On the accounts of the charity for the period to 5[th] April 2025 Set out on Pages 6 and 7
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) 2005 Act and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) 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, I do not express an audit opinion on 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 9 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 understanding of the accounts to be reached.
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Relevant professional qualification(s) or body: ACIE & Dip Business & Finance
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