REGISTERED CHARITY NUMBER.. SC036372 Report ofthe Trustees and Unaudilad Financial Statements for the Year Ended 31 Mareh 2026 The Russell Foundatlon Glbson McKerTell Burrows Llmfjtèd 28 Ruuand Square Edinburgh EH12BW
The Russell Foundatlon Contents of the Financial Statements for the Year Ended 31 March 2026 Page R•port of th• TrustO•S 1 to 2 Ind•pondont Examlnorfs Roport Ststsment of FInancI ActlvlV8S Statement of Financia] Posrlion Notes io the Flnanc181 Ststemants 6 to 9 Dotallod Stat•mont of Flnandal A6vIllag 10
The Russell Foundatlon Report of the Trustees forthe Yoar Ended 31 March 2026 The Trustees present their rep)rt and the financial StateMts of the Charity for the year ended 31 March 2026. The finandal statements have bn prepar In accordance th Ihe accounting poleS set out in Note 1 to the Awvnts and eompty wfth the Charitys Trust Oeed, the Charities and Trustee Investment (Scolandl Act 2005. the Charities Accounts Iscouandl Regulations 2006 {as amend8dl and Accounting and Rgporting by CharlUe8 Statwent of Recommended Practtce appliiable to charities preparing their accounts in accordan wth the Finanual Repothng Slandard applicab In the UK and Repubuool IreLind {FRS 10216ffeetive 1 January2019. OBJECTIVES AND ACTIVJTES Oblectlves and alms Th8 fLJThds shall bg held for the benefit of the advancement of hth, thg relief of those in need by reason of ag dH)ealth, disability, finan¢Aal harfship or0thksathiantage. Grant Maklng Pollcy Tha Trustees have agre8d uwn 8 policy of maknng donations to those organisations they feel requlre most suppct and wh)se purposes fall within the spectrjm of the Trust Deed. Réptsrt on th& Actfvltlès The Trustees have 1Ved a number of 2ppllcaUons to the Trust for fundlng," several of whlth were met in full uliIi&rYd some ofthe ino)m6 rOtaIn in prtyj$ yaars. FINANCIAL REVIEW FinanrAal R•viaw Durlng th8 P8rfod of Ihes8 ACnIS th8 Charity receDi8d investment income of £17,819, with unresthcted funds of £782,638. Th8r8 were net gains in investments of £n,712. The unrestricted expendiiure was £25,096. Tlls resulted in a finanaal Surpth of£70.435 Resetws poll¢y Ther8 were unr85trict8d 98ner81 fund5, designated by Ihe Ie8S of£782,638 atth8 year end 31 Mh 2028. We prinUpaI hokl unre$lrf¢ted reserves to: - protect the contlnulty of ourwoth against uncertaln fLrture irKome streems - provlde the capllal needed to finance Inveslment in operations - provide funds to repla assets - to (xwerfor specific liabilities and id8ntffiabl8 risk5 - to albw u8 to 81)rKI to unexpgcted opp(xiunil95 Ihat¢an further ourmls8lon - to auow u8 to rn9gt wntra¢knal obtytion8. D8&gnated FuThJs It is the policy of the charity to have the following unrestiicted funds held fvr de8wJnal8d strategic development. The totsl value of these Trds is £782,638 STrUCTURE, GOVERNANCE AND MANAGEMEwr Appointment of Now TTUSt885 The power to appolnt naw Trustees Is Vest In Ihe setttors dudno th&lr Ilfettm8 and the sUVOr of them so k)ng as they retsin cap8uty to do so. REFERENCE AND ADMINISTRATIVE DAlLs Registered Charfty number SC036372 Prlnclpal addrwas 8 Bamton Avenue West Edinburgh EH48DE Trusteg S J Russell MBE Mrs C M J Russdl Dr C Russ61 P8ge 1
Tho Rus8•11 Foundatlon Report of the Trust8es for the Ygar Endgd 31 March 2026 REFERENCE AND ADMINISTRATiVE DAlLs Independent Examiner Julian Cordery FCCA FCA CA Glbson McKerrell Burrvws Umlted 28 Ruttand Square Edinburgh EH12BW Apwoved by orderof the board of trustees on 7 July 2026 and signed on Its behalf by.. S J Russell MBE- Trustee Page 2
Independènt Examln8es Raport to Ihe fru8tses of The Russell Foundation I reporton Ihe aco)unls forthe year ended 31 Marth 2026 58t Lrt on pag8s f(r to nin8. RaspaCt1 rasponb]Ittl of trust•¢s and èxaminar The Iwustees are resw)nsitle for the preparatn of the ac¢ounts in accordan wth the terms of the Charities 8nd Truste8 Inveslment (Scotlandl Act 2005 and the Chaiities Accounts Iscotlandl Ragulations 2006 las atnendeill. The tharitls trustees consider that the audit requirement of Regulation 1011llal to Icl of the Acu>unts Regubtions doas not apply. It 15 rny r85por15ibility to exatnine the a(xounts as rgquirwj undw Se¢tton 441111¢) of the Act and to state ether partlculèr matters havè (x)mè to ry atten)on. Basi5 of the independent examineffs report My fjxamEnallon was ¢arrtod wt In a(urdanGe with Regulatton 11 of the Charfltes AGGounts ISLxJtlandl RWalions 2006. An examination includes a miew ofthe accounting cordS kept by the chartty and a comparfson of the accounts presented th those records. It also includes consideration of any unusuaI iteryts or disdosur6s in thè 8ec(yJntS, 8nd seeklng expLanalons from you Bs trustee5 concerning any such m8tt8rs. The pr(dureS undert8k8n éo not pmMd8 811 tho ewdenG8 th81 Mould b8 r8quir8d in an audit, and consequently I do not express an audit oiynM)n on thè view gNen by the aCnts. Independent examlnerfs statement In conn8Ction wfth my 8x8mlnafjon. no mattèr S me to my attention.. (11 whlth glves me rea8onabb w88 to bdieve thaL in any materfal Tesp8cL th8 requ1ments to keep accounting records in accordanco vmth Sectlon 4411llal of Ihe 2(K)5 Ad and Regulation 4 of the 2006 Accx)unls Regulations.. and to prèpare accounts whlch aceord Vth the 8wounting rerdS and to (xxfiply wlth Regulalkjn 8 of th8 2006 Aeo)unts RegulatK)ns have Il been metr, or 121 to which. In rny oplnion. atterrftan Shk1 bs drawn in order to enable a prop8r und8rstandlng of th8 8tt0unts to be ullan Co ry FCCA FCA CA The Insutute of Chartered Account8nt8 of ScotLqnd Gibson Md(errell Burmws Limited 28 Rutknd Squa Edinburgh EH12BW 7 JU 2026 Page 3
The Ru88ell Foundatlon stat8m8nt of Flnancial Activities fortho Year Endad 31 March 2026 31.3.26 Total funds 31.3.25 Total fund5 Unrestricted fijnd Restricted fund INCOME AND ENOOWMENTS FROM Inve5bnant incomè 17.819 17,819 20,721 EXPENDrruRE ON Charitable actmtles Donations 23,267 23,267 24.301 Olher 1.829 Total 25.096 25.096 24,801 N8t gains on inv8sttn8nts 77.712 77,712 NEf INCOME 70.435 70,435 5,986 RECONCILIATION OF FUNDS Total ftjnds brought forbwdrd 712,203 712,203 706,217 TOTAL FUNDS CARRIED FORWARD 782,838 782,838 712,203 The notfjs forrn part of these finan¢ial ststernents Page 4
The Russoll Foundatlon Statement ot FlnanclBI Posltlon 31 March 2026 31.3.26 Total funds 312.25 Total funds Unrestricted fund ResthLXed fund Notes FIXED ASSETS Investrnents 762,538 762,538 704,920 CURRENT ASSETS Cath at bank and In haThJ 21.900 21,900 CREDITORS Amounts fallTng due w¢hTn one year 11.6001 I1.8) 11.8001 NET CURRENT ASSETS 20.100 20.1CK) 7,283 MTALASSETS LESS cURREr LIABILMES 782.638 782.838 712.203 NET ASSETS 782,638 782,638 712,203 FUNDS UnrestTheted funds 782,638 712,203 TOTAL FUNDS 782.$38 712.203 The finandal statements wèré appyoved by thé Board of fru8t885 and auth(xised for issue on 7 July 2026 and were sned on its beha by.. S J Russell MBE- Trusteo The notes fom) part ofthèsa flnaneial stataménts Page 5
The Russell Foundatlon Notes to the Financial Ststements fortha Y•ar EndÉd 31 March 2026 ACCOUNTING POLICIES Basls of preparlng the 1Snandal ststem8nts The finanal statements of th8 charity, is a public b8n8fit 8ntity undw FRS 102, h8ve tEen pr8par8d in accordan¢e rtth the Charitie5 SORP IFRS 1021 'Acownting and Reporting by Charfl85: Ststement ol Rmmended Pra¢b applicable to charities pparing their awounts in accordan with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 201gi', Finarrial Reporbng Standard 102 The Financial R8POrting Standard applicable in the UK and Republlc of IreIand' and the Charitiey and Tyustee I1WtrnenI IScol8ndl Act 2005. The finandal ¥tatements have been prepared the historical (x)st eonventlon. vrith the exptIon of investments whlch are included at market value, as mod1fi by the rewdlu8tion olcert8in ass8ts. Income I Income k% r8eognlGed in Ihe Statement of Financ4al ActNiltes un the th8rfty has entluement lo the funds. it [8 probabje th8tthe inume will be receNed 8nd the amount can be me8sured reliabty. Expendlture Liabilities are r8cognisèd as exp8ndituie as s(K)n a5 Ih8r8 18 a 18gal or constructive obllgallon commltting th& charEty to that expenditu, it Is probab that 8 transfer of econom1¢ benefits 11 be raqUid In settlement aThJ th8 amount of the obligatK)n b8 m8asured reliabty. Expenditur8 is a(ounted for on an aruar5 basis arKJ has b88n da85tfied und8r h88dlS that aggr8gat8 811 wst relat8d to the cat8gory. Wh8re costs cannot b8 diredly atbibuied to pattcxjlar headings tw have been 811opAted to acbwties on 8 basis consistent wilh the use of resources. Grants Sub to condltions whlth have not been met at the y6ar end daio are noted as a CA)mmttment tJt not acttued as expendlture. Taxaflon The charity is axempt from tsx on its chari18bl8 acttvthes. Fund acoountlng Unrestricted funds can b8 u58d in accordanL¥ ¥rilh th8 tharitab18 thj8thv85 at th8 dis£Trlion of lh8 tru5te85. Restrlct8d funds can only be used for parti8r restr¢¢¢ed purpcA%es within the objects of the ch8rty. RestrTrons arlse when 8pedffed by the donororwhen funds are ralsed ts pardojlar restri(tsd purposes. FurtherÉxKl&naticm of nalurÈ aNI purpose of èaeh fund k Includéd sn the rK)tes to the flnandal s12t8men INVESTMENT INCOME 31.3.26 31.3.25 Investtnent inojrne 17,819 20,721 TRUSTEES. REIAUNERATION AND BENEFs Ther8 were no tnJste8s' r8rnun8r8t or Olher benefits for the year end8d 31 Marth 2028 nor for Ih8 year 8ncJ8d 31 Mah 2025. Truste¢8' gxpgnse Therè w8re no twsts88' expen895 paid f( the y88r end 31 M8rth 2026 for the yoar ded 31 March 2025. Page 6 continued...
The Russ811 Foundatlon Notes to Ihe Flnanclal Ststsments- contlnued for the Ygar Endad 31 March 2026 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcTIlES Unrestrtcted fund Restllcted fund Total fund8 INCOME AND ENDOWMENTS FROhl Inveslment income 20,721 20.721 EXPENDITURE ON Chadtablo adlvlll88 DonaSons 24.301 24.301 Net gains on investsnents 9.566 9.586 NET NCOME 5.986 RECONCIUATION OF FUNDS Total funds brought forward 706,217 7C62f7 TOTAL FUNDS CARRIED FORWARD 712.203 712,203 FIXED ASSET INVESTMEKrs Listed inv8slments MARKET VALUE At 1 WI 2025 ReValuadlS 704,920 57,618 At 31 M8rth 2026 762J38 BOOKVALUE At 31 Marth 2026 762,538 At 31 March 2025 704.920 ThereweTe no Envestmenl &8sets outside Ihe UK. Cost orvaluauon at31 March 20 Js reprasenied by. Listed investments Valuation In 2021 Valu8Ion In 2022 V8lualon in 2023 Valuation in 2024 Valu8lon in 2025 Valualion in 2026 Cost 112.718 35.952 164.1061 68.452 {2,7631 57,618 554,667 762.538 fix asset Investments had not be8n revalued theywould have been Sncluded al the followlng hlstorfca Cost.. 31.326 31.3.25 Cost 554,667 554,667 Page 7 o)ntSnued...
The RLBBell Foundatlon Notss to th8 Flnanclal Statements- eontlnuèd forthe Year Ended 31 March 20 CREDrroRS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.326 31.3.25 Other¢redltors 1.800 MOVEMENT IN FUNDS N* At 31.3.26 At 1.4.25 in funds Unrestrlcted funds G8n8r81 fund 712,203 70,435 782,638 TOTAL FUNDS 712.203 70.435 782,638 Net ement in lund8. indud8d in the 8bove are as folk)ws.' Incjyning rvsourc Gains and Movement In funds eyp8nd9d Unrg$trl¢ted fund8 G8n8rd tund 17,819 125,098) 77,712 70,435 TOTAL FUNDS 17,819 125,0961 77,712 70.435 Comparattves for movement In fun(ts Net movement in fvnds At 31.325 At 1.424 Unre8tr1cted fvn(ts General lund 706,217 5,986 712,203 TOTAL FUNDS 706,217 5,986 712,203 Comparative net movement in funds. induded in the abavè aro As follows.. In(x>ming r880urc&8 R&8our 8XP8nd8d Gains arK( Movgrngnt in funds Unrestrlcted funds General fvnd 20.721 124,3011 966 5,986 TOTAL FUNDS 20,721 124,3011 9.566 P8ge 8 o)ntlnued...
The Ru8Bell Foundatlon Notes to the Flnanclal Statsments- contlnu8d fortho YearEndgd 31 March 2026 MOVEMENT IN FUNDS. contlnued A cwrent year 12 months aNJ prioryear 12 month6 posttlon Is as folbws.. N8t rnovemenl in funds Al 1.4.24 31.3.26 Unr•strfGtsd fund• General fund 706.217 76.421 782,638 TOTAL FUNDS 706,217 76,421 782,638 A ¢uThent year 12 months and or year 12 months rnmblned net movernenl In fund4 induded tn the atove a as follows: Inwmlng Resourc Galns and losses Mov8m8nt in fvnds Unrestricted fund5 General fund 38,540 149.3971 87.278 76.421 TOTAL FUNDS 38,540 149,3971 87,278 76,421 RELATED PARTY DISCLOSURES There were no reLed patytransacuons frthe ended 31 March 2028. Page 9
Th8 Rus5811 Foundatlon Detalled Statement of Flnandal Actlvftles for the YearEnded 31 March 2026 21.3.26 31.3.25 INCOME AND ENDOWMENTS Investment Income Inv8stsllenl in(x)m8 17,819 20.721 Totsl Incomlng resources 17,819 20.721 EXPENDuRE Charltable actMtle8 Grdnts 15,7 15,) Support costs Managgmgnt Management expenses Sundries 7.517 7.173 78 T,251 Govemance costs IrKJepend8nt 8xamination Acunt fee 600 1,2 1,200 1,e(M) 1,800 Total reswr¢es oyndgd 25,096 24.301 Nat axp•nditu (1,2771 (3.580) Thls pagè doès not f(xm part of the st8tutoryfinanrJ staiements Pa 10