Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **GRANT CHARITABLE TRUST**
Account for the year to 5 November 2024.
Scottish Charity No. SC036146
10 Euclid Crescent
Dundee DD1 1AG Tel: 01382 229222 035172-0001
Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **GRANT CHARITABLE TRUST**
|Date of Settlement|4th October 1997|4th October 1997|
|---|---|---|
|Settlor|||
|Beneficiaries:|Charities and institutions concerned with the work in relation to the relief||
||of poverty and|suffering together with the preservation of wildlife|
||including improvement of the environment in which it lives and breathes.||
|Capital:|To be applied at the discretion of the Trustees.||
|Revenue:|To be applied at the discretion of the Trustees.||
|Powers of Investment:|Very wide at the|discretion of the Trustees.|
|Trustees:|||
|Charity No.|SC036146||
|Independent Examiners:|BKPlus Limited||
||Chartered Accountants||
||144 Nethergate||
||Dundee||
||DD14EB||
|Investment Managers:|Blackadders Wealth Management LLP||
||10 Euclid Crescent||
||Dundee||
||DD1 1AG||
|Agents and Contact Address:|Blackadders LLP||
||10 Euclid Crescent||
||Dundee||
||DD1 1AG||
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Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **GRANT CHARITABLE TRUST**
## **Report of the Trustees for the year to 5 November 2024**
This report and the accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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 published on 16 July 2014. The charity information set out on page 2 forms part of this report.
## **Objectives and Activities**
The objective of the Trust is to make out of the income or capital of the Trust such Grants as the Trustees determine to associations or charities involved in work for the relief of poverty or suffering of any kind; for the preservation of wildlife by whatever means including improvement of the environment in which it lives and breathes.
## **Achievement and Performance**
The Trust made donations during the year per Note 2.
## **Financial Review**
## **Financial Results**
The results of the year are set out in the Statement of Financial Activities and Balance Sheet. It was noted that the value of investments at 5 November 2024 was £1,314,504 (2023- £999,832). There was a surplus of £20,148.02 (2023 £12,421.07) before investment movements.
## **Investment Policy and Performance**
The primary objective is to achieve income generation subject to a medium to high degree of risk. The advice of Blackadders Wealth Management LLP was taken on investments throughout the period of the Accounts.
A J Bell Nominees Ltd has responsibility for custody of stock and to provide collection and other services in respect of the portfolio managed by Blackadders Wealth Management LLP.
## **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. Apart from sustained downward stock market movements, the Trustees do not believe there are any major financial risks to which the Trust is exposed.
## **Reserves Policy**
The reserves of the Trust originate from original donations together with the growth in value of the investments. The Trustees aim to distribute the whole of the annual net income of the Trust and if need be, to encroach on the accumulated revenue balance or even the Capital. Capital and Revenue balances are retained primarily to meet significant requests for financial assistance and stock market risks.
## **Structure Governance and Management**
## **Constitution**
The Trust was constituted by the Will of the late Janet Mitchell Grant dated 4th October 1997. The Charity number is SC036146.
## **Organisation**
The trust is administered by Blackadders LLP, 10 Euclid Crescent, Dundee, DD1 1AG.
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Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **THE GRANT CHARITABLE TRUST**
## **Report of the Trustees for the year to 5 November 2024 (contd)**
## **Structure Governance and Management (contd)**
## **Trustees**
The Trustee acting under the said Deed during the period under review are as noted on Page 2.
## **Trustee Induction and Training**
The Trustees consider a policy on trustee induction and training prior to new trustees being approached. This includes awareness of a trustee’s responsibilities, the governing document, administrative procedures, the history of the charity and its philosophical approach. A new trustee receives copies of the previous year’s account, minutes of the trustees’ meetings and a copy of the OSCR leaflet “Guidance for Charity trustees – acting with care and diligence”’ if appropriate. Training is offered to current trustees as and when required.
## **Connected Bodies**
There are no bodies connected to the trust.
## **Independent Examiners**
The Independent Examiner appointed for the current year is BKPlus Limited, Chartered Accountants. So far as the Trustee is concerned there is no relevant information of which the Independent Examiners are unaware. The Trustee has taken the appropriate steps as a Trustee to make himself aware of such information and to establish that the Independent Examiners are aware of it.
## Approved by the trustee and signed:
23 July 2025 | 4:31 PM BST Date:
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Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **THE GRANT CHARITABLE TRUST Statement of Trustees' Responsibilities**
Under the Statutory Scheme setting up the The Grant Charitable Trust and legislation relating to charities in Scotland, the trustees are responsible for preparing financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the surplus or deficit for that year and which have been properly prepared from and are in agreement with the accounting records of the trust and comply with relevant disclosure regulations.
In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
* follow applicable accounting standards, subject to any material departures disclosed and explained in the financial statements, and
* prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.
The trustees are required to act in accordance with the Statutory Scheme setting up the charity, within the framework of trust law. They are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Accounts (Scotland) Regulations 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
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Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **THE GRANT CHARITABLE TRUST**
## **Basis of Independent Examiner’s report to the Trustees.**
We report on the accounts of the charity for the year ended 5 November 2024 which are set out on pages 6 to 15.
## **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’s trustees consider that the audit requirements of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is our responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to our attention.
## **Basis of Independent Examiner's Statement**
Our examination was 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 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 we 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:
1. which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 44(1) 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
2. to which in my opinion attention should be drawn in order to enable a proper understanding of the
accounts to be reached.
24 July 2025 | 4:37 PM BST Date:
BKPlus Limited, Chartered Accountants Dundee
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Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **THE GRANT CHARITABLE TRUST**
## **Statement of Financial activities for the year to 5 November 2024**
|**Income from:**
Investments
**Total Income**
**Expenditure on:**
Charitable Activities
Raising Funds
**Total Expenditure**
**Net income and net movement in funds before gains and**
**losses in investments**
Net gains/(losses) on investment assets
**Net income/(expenditure) and movement in funds**
**Funds Reconciliation**
Total Funds brought forward
Total Funds carried forward|Unrestricted
Unrestricted
Funds
Funds
Total
Total
2024
2023
£
33,837.97
£
45,656.93
£
33,837.97
£
45,656.93
£
5,265.60
£
23,456.40
£
8,424.35
£
9,779.46
£
13,689.95
£
33,235.86
£
20,148.02
£
12,421.07
£
105,596.98
(£
15,556.30)
£
125,745.00
(£
3,135.23)
£
1,261,602.86
£
1,264,738.09
£
1,387,347.86
£
1,261,602.86|
|---|---|
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Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **THE GRANT CHARITABLE TRUST Balance Sheet at 5 November 2024**
|**Fixed Assets**
Investments
**Current Assets**
Bank of Scotland - BOSLINK account
AJ Bell Nominees Ltd
**Current Liabilities**
Sundry Creditors - due within one year
**Net Current Assets**
**Total Assets less Current Liabilities**
**Total Funds at 5 November 2024**|£
37,715.39
£
39,194.03
£
76,909.42
£
4,065.56|2024
£1,314,504.00
£
72,843.86
£1,387,347.86
£1,387,347.86|2023
£ 999,832.00
£
43,002.41
£ 223,624.85
£ 266,627.26
£
4,856.40
£
261,770.86
£1,261,602.86
£1,261,602.86|
|---|---|---|---|
Approved by the Trustees
23 July 2025 | 4:31 PM BST Date:
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Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
## **THE GRANT CHARITABLE TRUST**
## **Notes to the Accounts**
**1. Accounting policies**
## **Basis of accounting**
The accounts are prepared under the historical cost convention and include the results of the charity’s operations as indicated in the financial report, all of which are continuing.
The accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended) and UK Generally Accepted Accounting Practice as it applies from 1 January 2015.
## **Incoming Resources**
Incoming resources comprise income from investments and deposits included in the Statement of Financial Activities (SOFA) in the year in which it is receivable.
## **Resources Expended and irrecoverable VAT**
All expenditure is included on an accruals basis and is recognised when there is legal obligation to pay for expenditure. Irrecoverable VAT is charged against the category of resources expended for which it is incurred
- Charitable activities include expenditure associated with grant making.
- Support costs include central functions and have been allocated on a basis consistent with the use of resources.
- The cost of managing investments is charged against investment capital, reflecting the total return approach to
- investment management. Any costs associated with the sale or purchase of investments are accounted for as part of the sale or purchase price of the investments.
## **Investment Policy**
Investments are included at market value. Realised gains and losses, representing the difference between sale proceeds and cost are dealt with in the SOFA. Unrealised gains and losses, representing the movement in the market value of investments over the financial year, or from the date of purchase if acquired during the financial year, are shown in note 5. In the case of a permanent diminution in the value of investments, provision is made in the SOFA to reduce the carrying value of the recoverable amount.
## **Grants**
Grants comprise those paid in the accounting period and when applicable include grants payable in future periods where there exists a legal obligation to make such payments.
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Docusign Envelope ID: E031609C-8B99-4F96-B62B-3235828538EC
2024
2023
## **THE GRANT CHARITABLE TRUST**
## **Notes to the Accounts (continued)**
||||2024||2023|
|---|---|---|---|---|---|
|**2.**|**Charitable Activities**|||||
||The charity was active during the year and made donations to relevant charities as below.|||||
||Charitable Organisations|£|-|£|18,600.00|
|||£|-|£|18,600.00|
||Add: Support Costs|£|5,265.60|£|4,856.40|
|||£|5,265.60|£|23,456.40|
|**3.**|**Cost of Generating Funds**|||||
||Investment Management Costs|£|8,424.35|£|9,779.46|
|**4.**|**Support Costs**|||||
||Independent Examiner's fees|£|1,680.00|£|1,598.40|
||Management Costs|£|3,585.60|£|3,258.00|
|||£|5,265.60|£|4,856.40|
|**5.**|**Investments**|||||
||Market Value at 5.11.2023|£|999,832.00|£|1,015,365.00|
||Additions at cost|£|1,418,857.38|£|23.30|
|||£|2,418,689.38|£|1,015,388.30|
||Less: Disposals at carrying value|£|1,169,362.93|£|-|
|||£|1,249,326.45|£|1,015,388.30|
||Unrealised Gain on Revaluation|£|65,177.55|£|(15,556.30)|
||Market Value at 5.11.2024|£|1,314,504.00|£|999,832.00|
||All investments held are UK listed securities|||||
|**6.**|**Sundry Creditors**|||||
||Law Agents|£|2,385.56|£|3,258.00|
||Independent Examiner|£|1,680.00|£|1,598.40|
|||£|4,065.56|£|4,856.40|
## **7. Commitments**
There are no material commitments and the Trust has no employees.
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