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← Cordis Charitable Trust

2025-11-30-accounts

REGISTERED CHARITY NUMBER: SC038198

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REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 FOR CORDIS CHARITABLE TRUST

Mitchell Edwards Chartered Certified Accountants 24A Ainslie Place Edinburgh EH3 6AJ

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CORDIS CHARITABLE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 November 2025 nnn |

Page Report of the Trustees 1 to 2 Independent Examiner's Report 3 Statement of Financial Activities 4 Balance Sheet 5 Notes to the Financial Statements 6 to il

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CORDIS CHARITABLE TRUST

REPORT OF THE TRUSTEES

for the year ended 30 November 2025

The trustees are pleased to present their report and the accounts of the trust fund for the year ended 30 November 2025, which have been prepared in accordance with the provisions of ‘Accounting and Reporting by Charities: the 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 (FRS102)', and in compliance with applicable law governing Scottish Charities and the trust deed.

OBJECTIVES AND ACTIVITIES

Objectives and aims

Under the terms of the trust deed, the income of the trust is to be applied for the following purposes:

  1. The advancement of education

  2. The advancement of health (including the prevention or relief of sickness, disease or human suffering) 4.3. TheThe advancement advancement ofof humanthe arts, rights, heritage,conflict culture resolution or scienceor reconciliation

of or reconciliation reconciliation

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Grant Awards

Total grants of £320,738 were awarded during the year as detailed in note 4 to the accounts.

FINANCIAL REVIEW

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Financial position Income for the year amounted to £400,517 and expenditure amounted to £321,938. This resulted in a net increase in funds of

£78,579 for the year (2024: net decrease of £40,181).

Total funds carried forward amounted to £209,387 being the unrestricted free reserves of the charity which are available for future grant awards, project costs and administrative costs.

Reserves policy

Generally, reserves are held at a level to cover grant awards, project costs and administrativecosts in the immediate future. Reserves at the balance sheet date amounted to £209,387 (2024: £130,808).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document Cordis Charitable Trust was established by a trust deed dated 25 April 2007 and is registered as a Scottish charity (reference $C038198). The management of the Trust is the responsibility of the trustees, who meet regularly to disburse grants and conduct the trust's affairs. New trustees are appointed by the existing trustees and trustees may not exceed 5 in number.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

S$C038198

Principal address

Cavers Garden Farm

Denholm

Hawick

TD9 8LN

Trustees

TJ Rankin

AM Harvey PE Kenny

Independent Examiner Mark T Edwards FCCA

Mitchell Edwards

Chartered Certified Accountants 24A Ainslie Place

Edinburgh EH3 6AJ a

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CORDIS CHARITABLE TRUST

REPORT OF THE TRUSTEES for the year ended 30 November 2025

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Approved by order of the board of trustees on 30 March 2026 and signed on its behalf by: .
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P E Kenny - Trustee .
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i , : INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF , CORDIS CHARITABLE TRUST :

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I report on the accounts for the year ended 30 November 2025 set out on pages four to eleven.

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 (as amended). The charity's 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 the independent examiner's report My 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 presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 view given by the accounts. Independent examiner's statement

In connection with my examination, no matter has come to my attention :

(1) _ which gives me reasonable cause to believe that, in any material respect, the requirements

(2) 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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JbMark T Edwards FCCAHh——___ The Association of Chartered Certified Accountants

Mitchell Edwards Chartered Certified Accountants 24A Ainslie Place Edinburgh EH3 6AJ | 1 April 2026 | ; {

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CORDIS CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 November 2025

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|||||| |---|---|---|---|---| |oe| |2025|2024| |Unrestricted|Total| |fund|funds| |Notes|£|£| |INCOME AND ENDOWMENTS FROM| |Donations|and legacies|400,000|400,000| |Investment|income|3|317|-| |Total|400,517|400,000| |EXPENDITURE|ON| |Charitable|activities|4| |Grantmaking|activities|321,938|440,181| |NET INCOME/(EXPENDITURE)|78,579|(40,181)| |RECONCILIATION|OF FUNDS| |Total funds brought forward|130,808|170,989| |TOTAL FUNDS CARRIED FORWARD|209,387|130,808|

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CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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CORDISCHARITABLETRUST
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BALANCESHEET
30 November 2025 ° . “ ry
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2025 2024 3
CURRENTASSETS
Debtors
Cash atbank
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8		 . ; Unrestricted
fund
£
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112
272,475
-_
272,587		 a Total
funds
2
200,000
63,948
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CREDITORS
Amounts
fallingduewithinoneyear		 9 ; (63,200) (73,140)
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NETCURRENTASSETS 209,387 190,808 . a
TOTALASSETSLESSCURRENTLIABILITIES LIABILITIES 209,387 190,808 :
CREDITORS °
Amountsfallingdueaftermorethanoneyear 10 ~ (60,000) toy
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NETASSETS/(LIABILITIES) , ° 209,387 130,808 “HY
FUNDS I]
Unrestrictedfunds: . .
Generalfund
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TOTALFUNDS 209,387 130,808 “
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CORDIS CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS ., for the year ended 30 November 2025

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1. LEGAL STATUS OF THE FUND
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The Trust is an unincorporated charitable trust constituted by a deed of trust and is registered in Scotland with its principal address at Cavers Garden Farm, Denholm, Hawick, TD9 8LN.

The presentation currency of the financial statements is the Pound Sterling (£).

  1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) ‘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 (FRS 102) (effective 1 January 2019)', the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended),

The Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Preparation of the accounts on a going concern basis The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.

Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably,

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Governance costs Support costs are those functions that assist the work of the Trust but do not directly undertake charitable activities. Governance costs comprise all costs involving the public accountability of the Trust in compliance with regulation and good practice. These costs include costs relating to independent examination and accountancy.

Taxation The Trust is exempt from tax on its charitable activities. The charity is not registered for VAT and expenditure includes VAT where appropriate.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Under the original grant, income from an expendable endowment fund was to be applied for the purposes of the charity and the capital could be expended as grants to projects which provided an enduring benefit to the beneficiaries. The balance on the endowment fund was transferred to the unrestricted income fund in 2013 with the agreement of the donor.

Debtors

Debtors are recognised at the settlement amount due. Prepayments are valued at the prepaid amount.

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NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 30 November 2025

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2. ACCOUNTING POLICIES- continued

Cash at bank

Cash at bank includes cash which is accessible on demand.

Creditors and provisions

Creditors and provisions are recognised where a present obligation from a passed event will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Financial instruments Financial instruments comprise financial assets and financial liabilities which are initially recognised at transaction value and subsequently measured at their settlement value. Where a provision is accrued that will settle over several years the payments required to settle the future obligations are discounted to their present value.

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3. INVESTMENTINCOME -
2025 2024
£ £
Depositaccount interest 517 -
4, CHARITABLEACTIVITIES COSTS
Grant
fundingof
activities Support
(seenote costs (see
5) note 6) Totals
£ £ £
Grantmaking activities 320,738 1,200 321,938
5. GRANTS PAYABLE
2025 2024
Grantmakingactivities £
320,738		 £
439,041

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CORDIS CHARITABLE TRUST

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NOTES TO THE FINANCIAL STATEMENTS- continued

for the year ended 30 November 2025

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5. GRANTS PAYABLE- continued
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GRANTSTO INSTITUTIONS
Grantspayableto institutionscomprised:		 2025
£		 2024
£
Aruka
BenedettiFoundation		 3,000
-		 -
2,500
BethanyChristianTrust
ButterflyTrust
CareforCarers
ChaseAfrica		 5,000
1,000
2,500
3,000		 -
4,000
3,000
-
Children'sHealthScotland
Crew2000
Dates-N-Mates
Dean&CauvinYoungPeoplesTrust
DisastersEmergencyAppeal -Pakistan
Edinburgh ChildandFamilyCentres
EdinburghCityMission
Edinburgh Cyrenians
EdinburghDirectAid
EdinburghYoungCarers
FAIR
Families First		 5,000
3,000
2,500
2,500
-
105,000
3,000
10,000
-
3,000
-
1,000		 -
2,000
-
2,500
5,000
100,000
5,000
15,000
6,000
3,000
5,000
3,000
Families Outside
FetlorYouthClubs		 3,000
3,000		 -
3,000
FifeYoungCarers
FirstHandLothian
Get2Gether
Health inMind
Karele
KingsTheatre
Kindred
LightUpLearning
LivingMemoryAssociation
Maggie's
MedecinSansFrontieres		 4,000
4,000
1,000
3,000
5,000
-
-
2,500
-
-
20,000		 -
-
5,000
-
-
50,000
120,000
2,500
3,000
10,000
-
MidlothianCommunityAction
MikuyuTanzania
OutwardBoundTrust
RockTrusts		 2,500
3,000
5,000
-		 -
3,000
-
3,000
RowanAlba 3,000 -
SGMair 2,878 -
ScotlandYardAdventureCentre
Scottish Ballet
ScottishCharityAirAmbulance
SimonCommunityStreetworks
SpartansCommunityFoundation
StCrispinsAfterSchoolClub
TeapotTrust
TheBenevolentFundforNurses inScotland
UNICEF -MiddleEastEmergency
VeryInclusivePlayClub
VolunteerMidlothian
YMCAEdinburgh
Otherbeneficiaries (grantsbelow£2,500)		 5,000
-
2,000
8,000
-
5,000
-
16,000
-
4,760
-
3,000
65,600		 -
12,000
3,000
-
3,566
7,000
3,000
-
3,000
4,215
3,000
-
44,760
Total 320,738 439,041

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NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 30 November 2025

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CORDIS CHARITABLE TRUST

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||||| |---|---|---|---| |Governance| |costs| |£| |Grantmaking activities|1,200| |Support costs, included in the above,|are as follows:|2025|2024| |Grantmaking|Total| |activities|activities| |£|£| |Independent examination fees|600|570| |Accountancy|600|570| |1,200|1,140|

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7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 November 2025 nor for the year ended 30 November 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 November 2025 nor for the year ended 30 November 2024.

  1. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

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||||| |---|---|---|---| |2025|2024| |£|£| |Other debtors|112|200,000| |9.|CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR| |2025|2024| |£|£| |Accrued expenses|1,200|1,140| |Accrued|grants payable|62,000|72,000| |63,200|73,140| |10.|CREDITORS:|AMOUNTS|FALLING DUE AFTER MORE THAN ONE YEAR| |2025|2024| |£|£| |Accrued|grants payable|-|60,000|

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NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 30 November 2025

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11. MOVEMENTINFUNDS Net
At movement At
1.12.24 in funds 30.11.25
£ £ £
Unrestricted funds
General fund 130,808 78,579 209,387
TOTALFUNDS 130,808 78,579 209,387
Netmovementin funds, included intheaboveare as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 400,517 (321,938) 78,579
TOTALFUNDS 400,517 (321,938) 78,579
Comparatives formovement infunds
Net
At movement At
1.12.23 in funds 30.11.24
£ £ £
Unrestricted funds
General fund 170,989 (40,181) 130,808
TOTALFUNDS 170,989 (40,181) 130,808
Comparative netmovement infunds, includedintheaboveare as follows:
Incoming Resources Movement
resources expended infunds
£ £ £
Unrestricted funds
General fund 400,000 (440,181) (40,181)
TOTALFUNDS 400,000 (440,181) (40,181)
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NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 30 November 2025

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CORDIS CHARITABLE TRUST

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12. RELATED PARTY DISCLOSURES

Trustees do not receive remuneration, expenses or other benefits from their work with the Trust.

The aggregate amount of unconditional donations from related parties during the year was £400,000 (2024: £400,000).

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