REGISTERED CHARITY NUMBER: SC039182 Report of the Trustees and Audited Financial Statements for the Year Ended 31 March 2025 for Ward Family Charitable Trust 

Johnston Smillie Ltd 5 South Gyle Crescent Lane South Gyle Edinburgh EH12 9EG 




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Ward Family Charitable Trust<br>Contents of the Financial Statements<br>for the Year Ended 31 March 2025<br>Report of the Trustees<br>Report of the Independent Auditors<br>Statement of Financial Activities<br>Balance Sheet<br>Notes to the Financial Statements<br>**----- End of picture text -----**<br>



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Ward Family Charitable Trust 

Report of the Trustees for the Year Ended 31 March 2025 

The trustees present their annual report and financial statements for the year ended 31 March 2025. 

The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". OBJECTIVES AND ACTIVITIES Objectives and aims The objective of the the charity is to apply its funds in furtherance of one one or more of the the following, whether in Scotland or elsewhere: the advancement of health; health; the advancement of education; the advancement of environmental environmental protection or improvement. The trustees aim to pursue these objectives principally by means of donations donations to organisations working in these areas. 

OBJECTIVES AND ACTIVITIES Objectives and aims The objective of the the charity is to apply its funds in furtherance of one one or more of the the following, whether in Scotland or elsewhere: the advancement of health; health; the advancement of education; the advancement of environmental environmental protection or improvement. 

The trustees aim to pursue these objectives principally by means of donations donations to organisations working in these Donations of £121,300 (2024: £115,300) were made in the year to 31 March 2025. 

ACHIEVEMENTS AND PERFORMANCE Investment performance The trustees are satisfied with the level of investment income generated during the period and the financial position at the balance sheet date. Income returns amounted to £131,032 or 5.0% (2024: £138,212 or 5.5%). The Trust's investment portfolio showed a valuation net decrease of 6.0%, reduction of £154,584 (2024: £63,667 a 2.5% increase). FINANCIAL REVIEW Principal funding sources During the year ended 31 March 2009, the Trust received a donation of £3,000,000 from Front Line Construction Limited, a company which was at that time under the control offggy trustee. These funds were invested and it is expected that the Trust's principal funding source for the foreseeable future will be income from this investment. 

Investment policy and objectives The Trust's funds are invested in a managed portfolio which includes cash deposits and a diversified holding of equities with a view to achieving a balance between income and capital growth. 

Reserves policy The Trust's policy is to maintain a level of reserves sufficient to generate adequate investment income to enable the Trust to maintain its activities in the medium to long term. The trustees are satisfied that the balance on unrestricted funds at 31 March 2025 of £3,622,883 (2024: £3,785,180) is satisfactory to enable the Charity to meet its ongoing obligations. 

FUTURE PLANS 

The trustees have continued to take a prudent approach to the distribution of the charity's funds. In future periods, the trustees plan to continue to distribute funds to other organisations which work in furtherance of the objectives of the Trust. Such distributions will be made at the discretion of the trustees and the amounts of such distributions will be determined in the context of the Trust's reserves policy. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Trust is an unincorporated charity established by a Deed of Trust dated 23 January 2008 and controlled in accordance with the provisions of that Deed of Trust. 

Recruitment and appointment of new trustees New trustees are appointed by the existing trustees in accordance with the terms of the Trust Deed. 

Organisational structure 

The Trust is managed by the trustees in accordance with the terms of the Trust Deed. investment of the Trust funds and the application of those funds are made by the trustees. 

All decisions regarding the 

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Ward Family Charitable Trust 

Report of the Trustees 

for the Year Ended 31 March 2025 

STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees 

The trustees have received professional advice on their duties and responsibilities and have been provided with copies of the guidance issued by OSCR. This procedure will be repeated when new trustees are appointed. 

Risk management The Trustees Board is responsible for the oversight of the risks faced by the Trust and is responsible for reviewing the risk management process and its operations. 

The Trust has a risk management process designed to; 1. identify the major risks that could impact on the aims of the Trust, and 2. ensure appropriate actions are taken to mitigate the identified risks. 

The principal risk faced by the Trust lies in the performance of its investments, and ensuring the maintenance of the capital value and the protection of income. The risk is managed with the support of investments advisors, and through regular review of investment policy, management of strategic asset allocation, and on-going market updates and due diligence. 

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC039182 

Principal address 


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## Auditors 

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Ward Family Charitable Trust 

Report of the Trustees for the Year Ended 31 March 2025 

REFERENCE AND ADMINISTRATIVE DETAILS Bankers and investment managers Coutts 6-8 George Street Edinburgh EH2 2PF 

Rathbone Investment Management George House 50 George Square Glasgow G2 1EH 

STATEMENT OF TRUSTEES' RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 

with 

Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees 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 financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and The Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the board of trustees on.......... December 2025 and signed on its behalf by: 

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Report of the Independent Auditors to the Trustees of Ward Family Charitable Trust Opinion We have audited the financial statements of Ward Family Charitable Trust (the 'charity') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - proper accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. 


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Report of the Independent Auditors to the Trustees of<br>Ward Family Charitable Trust<br>**----- End of picture text -----**<br>


|Responsibilities oftrustees|
|---|
|As explained more fully in the Statement ofTrustees' Responsibilities, the trustees are responsible for the preparation of|
|the financial statements which give a true and fair view, and for such internal control as the trustees determine<br>is|
|necessary to enable the preparation offinancial statements that are free from material misstatement, whether due to fraud|
|or error.|
|Inpreparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going|
|concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting|
|unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do|
|SO.|
|Our responsibilities for the audit of the financial statements|
|We have been appointed as auditors under Section 44(1)(c) ofthe Charities and Trustee Investment (Scotland) Act 2005|
|and report inaccordance with the Act and relevant regulations made orhaving effect thereunder.|
|Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free<br>from|
|material misstatement, whetherdue to fraud or error, and to issue a Report ofthe Independent Auditors that includes our|
|opinion. Reasonable assurance is a high level ofassurance, but is not a guarantee that an audit conducted in accordance|
|with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or<br>error|
|and are considered material if, individually or in the aggregate, they could reasonably be expected to influence<br>the|
|economic decisions ofusers taken on the basis ofthese financial statements.|
|The extent to which ourprocedures are capable ofdetecting irregularities, including fraud is detailed below:|
|Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line|
|with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including<br>fraud.|
|The extent to which ourprocedures are capable ofdetecting irregularities, including fraud is detailed below:|
|We obtained an understanding ofthe legal and regulatory frameworks applicable to the charity, focusing on provisions|
|ofthose laws and regulations which could havea direct effect on the determination ofmaterial amounts and disclosures|
|in the financial statements. The key laws and regulations we considered in this context included Scottish<br>charity|
|legislation andUK tax legislation.|
|We assess the susceptibility of the entity’s financial statements to material misstatement, including how fraud might|
|occur, as part ofour preliminary procedures. This is continually reassessed throughout the audit process to ensure<br>all|
|risks identified are addressed, and involves a detailed review ofthe controls in place and the environment in which the|
|charity operates.|
|We also undertake procedures designed to identify those laws and regulations which are most relevant to the entity and|
|its ability to continue. This includes documenting our understanding ofthe entity and discussions with management on|
|those laws and regulations crucial to its ongoing operations. In undertaking this process we are able to document<br>areas|
|where irregularities wouldbe most likely to occur.|
|Based on this understanding we designed our audit procedures to detect circumstances in which irregularities<br>could|
|result in material misstatement and to identify irregularities which may have occurred. Our procedures included: journal|
|entry testing; enquiries ofthose charged with governance; review of specific transactions and documentation;<br>analytical|
|procedures; and reviewofthe presentation and disclosures in the financial statements.|
|We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members|
|and remained alert to any indications of fraud or non compliance with laws and regulations throughout the<br>audit.|
|Because ofthe inherent limitations ofan audit, there is a risk that we will not detect all irregularities, including<br>those|
|leading to a material misstatement in the financial statements ornon-compliance with regulation. This risk increases the|
|more that compliance with a law or regulation is removed from the events and transactions reflected in the<br>financial|
|statements, as we will be less likely to become aware ofinstances ofnon-compliance. The risk is also greater regarding|
|irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery,<br>collusion,|
|omission or misrepresentation.|
|A further description ofourresponsibilities for the audit ofthe financial statements is located on the Financial Reporting|
|Council's website<br>at www.frc.org.uk/auditorsresponsibilities.<br>This<br>description forms<br>part of our Report of<br>the|
|Independent Auditors.|
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Report of the Independent Auditors to the Trustees of Ward Family Charitable Trust 

Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

Date:.. ..December 2025 

Eligible to act as auditors in terms of section 1212 of the Companies Act 2006 

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Ward Family Charitable Trust 

Statement of Financial Activities for the Year Ended 31 March 2025 

Notes 

INCOME AND ENDOWMENTS FROM Donations and legacies 3 Investment income 4 Total EXPENDITURE ON Raising funds 5 Charitable activities 6 Grants payable Other Total Net gains/(losses) on investments 

NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 

2025 2024 Unrestricted Total fund funds £ £ 3,000 3,000 131,032 138,212 134,032 141,212 9,645 9,189 121,300 115,300 10,800 8,400 141,745 132,889 (154,584) 63,667 (162,297) 71,990 3,785,180 3,713,190 3,622,883 3,785,180 

The notes form part of these financial statements 




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Ward Family Charitable Trust 

Notes to the Financial Statements 

for the Year Ended 31 March 2025 

1. PRESENTATION CURRENCY 

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

2. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Going concern The charity is exposed to any fluctuation in the listed investments market performance though it has taken steps to mitigate this by holding a significant level of cash funds on longer term deposits. The value of investments in hand means that it can continue for some considerable time to meet expenditure at current levels. The trustees have no concerns over the charities ability to continue to finance good causes. 

The trustees are confident the charity will be in a position to continue operating along existing levels for the longer term. The trustees therefore believe it is appropriate to prepare the accounts on the going concern basis. Financial reporting standard 102 - reduced disclosure exemptions The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’: 

* — the requirements of Section 7 Statement of Cash Flows. 

Legal status of the trust The Trust is an unincorporated charitable trust constituted by a deed of trust and is registered in Scotland with principal address ~~ga~~ 

its 

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. 

The charity is not registered for VAT and expenditure includes any associated VAT Grants offered subject to conditions which have not been met at the year end date are noted as not accrued as expenditure. 

a commitment but 

Governance costs 

Governance costs comprise costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to those costs associated directly with charitable activity. 

Allocation and apportionment of costs Costs are allocated directly to the activities to which they relate. 

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Ward Family Charitable Trust 

Notes to the Financial Statements - continued 

for the Year Ended 31 March 2025 

2. ACCOUNTING POLICIES- continued 

Taxation 

The charity is exempt from tax on its charitable activities. 

Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. There are no restricted funds. 

Investments 

Fixed asset investments consist of listed investments held in the UK and are stated at market value at the balance sheet date. Unrealised gains or losses on revaluation of investments are recognised in the Statement of Financial Activities. Unlisted investments are held at cost subject to an annual review of impairment in value. Any impairments considered necessary are recognised in the Statement of Financial Activities. Financial instruments Other than fixed asset instruments the trust only enters into basic financial instruments transactions that result in the recognition of current current financial assets and liabilities like bank balances and accounts receivable and payable. Significant judgements and estimates Preparing the financial statements may require the trustees to make significant judgements and estimates. The valuation of unlisted investments requires the trustees to make significant judgments and estimates when assessing the value disclosed in the accounts. For the current year a significant write down in value has been recognised in the accounts. DONATIONS AND LEGACIES Expenses of the Trust amounting to £3,000 (2024: £3,000) were settled by Trustee and have been treated as a donations in the year. INVESTMENT INCOME INCOME 2025 2024 £ £ Dividends receivable 91,366 101,382 Interest receivable 39,666 36,830 131,032 138,212 

Other than fixed asset instruments the trust only enters into basic financial instruments transactions that result in the recognition of current current financial assets and liabilities like bank balances and accounts receivable and payable. 

3. DONATIONS AND LEGACIES Expenses of the Trust amounting to £3,000 (2024: £3,000) were settled by been treated as a donations in the year. 4. INVESTMENT INCOME INCOME 

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Ward Family Charitable Trust 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

5. RAISING FUNDS 

Investment management costs 

Portfolio management 

2025 2024 £ £ 9,645 9,189 

6. CHARITABLE ACTIVITIES COSTS 

Grants payable Other 

7. GRANTS PAYABLE 

Grants payable 

Grant funding of activities Support (see note costs (see 7) note 8) Totals £ £ £ 121,300 - 121,300 - 10,800 10,800 121,300 10,800 132,100 2025 2024 £ £ 121,300 115,300 

The total grants paid to institutions during the year was as follows: 

2025 2024 £ £ Action Medical Research - 3,000 African Revival 1,000 - Aids Orphans of Myanmar 2,000 Art in Healthcare 1,000 Asthma & Allergy Foundation 1,800 1,000 Branch Out Together - Lothian Autistic Soc 1,500 1,500 Bright Sight Mission - 1,000 Bright Sparks School - 1,000 Butterfly Trust 2,000 2,000 Children for Health 1,000 - Cardiac Risk In The Young - 1,000 Care for Carers 1,000 1,000 Children of the Mekong 1,000 - Castlemilk Youth Complex (prev YSC) 2,000 2,000 Cerebral Palsy Scotland (prev Bobath Scotland) - 1,000 Child Brain Injury Trust - 2,000 Compass 1,500 1,500 Crew 2000 (Scotland) 2,000 2,000 Cruse Bereavement Care Scotland 1,000 1,000 Community One Stop Shop 1,000 - Concrete Garden 1,000 - Cyrenians - 3,000 Dean and Cauvin Young Peoples Trust 1,000 1,000 Demand - 1,000 Disability Africa 1,000 1,000 East Africa Children's Project 1,000 1,000 Edinburgh City Mission - 1,000 Edinburgh Carers Council - 1,000 

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|Ward|Family Charitable Trust||||
|---|---|---|---|---|
|Notes|to the Financial Statements - continued||||
|for the Year Ended 31 March 2025|||||
|7.|GRANTS PAYABLE- continued||||
||Edinburgh Young Carers Project||-|1,000|
||Empowering Kids inKenya||1,000|1,000|
||Eric Liddell Centre||1,000|1,000|
||Evergreen Africa||1,000|1,000|
||Family Outside||1,000|1,000|
||Fife Carers Centre||1,000|1,000|
||Fife Young Carers||1,000|1,000|
||Find Your Feet||1,000|1,000|
||Families First||1,000|-|
||FreedomKit Bags||2,000|2,000|
||Ghana School Aid||1,000|1,000|
||Glasgow Children's Holiday Scheme||-|1,000|
||Global Care||-|1,000|
||GO! Youth Trust||1,000|1,000|
||HappyDays Children's Charity||1,000|1,000|
||Hopscotch||4,500|-|
||Hearts in Mind||1,000|1,000|
||HELM||1,500|2,000|
||Hillhouse Help||2,000|-|
||Into Work||1,000|-|
||Impact||-|1,000|
||Kindred||2,000|-|
||Leeds Weekend Care||1,000|-|
||Lightup Learning||1,000|-|
||Liam Forrest||-|2,800|
||Lisa Kent Trust||1,000|-|
||Lodging House Mission||2,000|-|
||Makhad People Spirit Environment||1,500|1,500|
||Malaika Kids||1,000|1,000|
||Medair||5,000|1,000|
||Mission Direct||1,000|-|
||MoiraAnderson Foundation||1,000|-|
||Motivation Charitable Trust||-|1,000|
||Muirhead Outreach Project||-|2,000|
||Nightingales Children's Project||-|1,000|
||NilbyMouth||1,000|-|
||One Parent Families Scotland||-|1,000|
||Orbis Charitable Trust||-|2,000|
||Ovarian CancerAction||-|2,000|
||Pain Concern||1,000|-|
||Playlist for Life||2,500|2,500|
||Porridge & Pens Ghana||1,000|1,000|
||Pregnancy Counselling Service||1,500|1,500|
||PT Ellen Lacoux||500|-|
||PT Alice Davidson||-|500|
||PT HannahMaloney||1,500|-|
||PT Holly Cumming||500|-|
||PT Jamie Harding||500|-|
||PT Mairi Todd||500|-|
||PTNoah McGregor||500|-|
||Reaching The Unreached||2,000|-|
||Read ForGood||-|2,000|
||Renewable World||5,000|5,000|
||RetinaUK||1,000|-|
||Rosebery Centre||1,000|-|
||Rowan Alba||3,000|2,000|
||S.A.L.V.E International||1,000|1,000|
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Ward Family Charitable Trust 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

7. GRANTS PAYABLE- continued 

Sand Dams Worldwide (prev Excellent Development Ltd) Simba Charity Scottish Huntington's Association SEAMAB Sense International 

Sepsis Research (FEAT) Serendip Children's Home Space Spark Spinal Research Spina Bifida Hydrocephalus Scotland St Andrew's Children's Society Sunrise Sunshine Wishes Children's Charity Supported (prev Linda Tremble Foundation) The Yard Fife Teapot Trust The Tiyeni Fund Therapet Tourette Scotland Turbo Ghana Village Water Waverley Care We Reach UK William Merrit Centre World Medical Fund for Children Youth Border 

8. SUPPORT COSTS 

Governance costs 

Auditors' remuneration Accountancy and professional fees Interest payable 

5,000 5,000 1,000 - 2,000 1,000 - 3,000 2,000 2,000 3,000 3,000 1,000 1,000 - 1,000 1,000 - - 2,000 1,000 - - 1,000 1,500 1,500 1,500 1,500 1,000 1,000 2,000 2,000 2,000 - - 1,000 - 1,000 - 1,000 - 1,000 5,000 3,500 2,000 2,000 - 1,000 1,000 - 1,000 1,000 - 121,300 115,300 2025 2024 £ £ 7,800 5,400 3,000 3,000 - - 10,800 8,400 

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Ward Family Charitable Trust 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

9. SUPPORT COSTS 

Support costs 

2025 2024 £ £ 10,800 8,400 

10. TRUSTEES' REMUNERATION AND BENEFITS 

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. 

Trustees' expenses 

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 

11. EMPLOYEES The charity had no employees during this or the prior period. 

12. FIXED ASSET INVESTMENTS 

Listed Unlisted investments investments Totals £ £ £ MARKET VALUE At 1 April 2024 2,593,576 - 2,593,576 Additions 225,033 - 225,033 Disposals (210,654) - (210,654) Revaluations (84,326) - (84,326) Reclassification/transfer (99,999) 99,999 - At 31 March 2025 2,423,630 99,999 2,523,629 PROVISIONS Impairments - 89,874 89,874 NET BOOK VALUE At 31 March 2025 2,423,630 10,125 2,433,755 At 31 March 2024 2,593,576 - 2,593,576 

The historical cost of investments owned by the Trust at 31 March 2025 was £3,046,795 (2024: £2,948,423). Cost is the total cost to the Trust, including incidental expenses, of acquiring investments on the open market. 

Unlisted investments were written down in the period to their latest published net asset value following a significant drop in the value of the investments held. 

There were no investment assets outside the UK. 

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Ward Family Charitable Trust 

Notes to the Financial Statements - continued 

for the Year Ended 31 March 2025 

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

2025 2024 £ £ 16,252 15,384 2025 2024 £ £ 593,393 573,758 2025 2024 £ £ 7,801 5,401 Net movement At At 1.4.24 in funds 31.3.25 £ £ £ 3,785,180 (162,297) 3,622,883 3,785,180 (162,297) 3,622,883 

Prepayments and accrued income 

14. CURRENT ASSET INVESTMENTS 

Term Deposits 

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

Other creditors 

16. MOVEMENT IN FUNDS 

Unrestricted funds General fund 

TOTAL FUNDS 

Net movement in funds, included in the above are as follows: 

Unrestricted funds General fund 

TOTAL FUNDS 

Incoming Resources Gains and Movement resources expended losses in funds £ £ £ £ 134,032 (141,745) (154,584) (162,297) 134,032 (141,745) (154,584) (162,297) 

Comparatives for movement in funds 

Unrestricted funds General fund 

TOTAL FUNDS 


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Net<br>movement At<br>At 1.4.23 in funds 31.3.24<br>£ £ £<br>3,713,190 71,990 3,785,180<br>3,713,190 71,990 3,785,180<br>**----- End of picture text -----**<br>


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Ward Family Charitable Trust 

Notes to the Financial Statements - continued 

for the Year Ended 31 March 2025 

16. MOVEMENT IN FUNDS - continued 

Comparative net movement in funds, included in the above are as follows: Incoming Resources Gains and Movement resources expended losses in funds £ £ £ £ Unrestricted funds General fund 141,212 (132,889) 63,667 71,990 TOTAL FUNDS 141,212 (132,889) 63,667 71,990 

17. RELATED PARTY DISCLOSURES Included within Governance costs are professional services totalling £3,000 (2024: £3,000) provided by Jeffrey Crawford & Co, a firm controlled by ~~J~~ Trustee. Reimbursement for these services has been made in accordance with the provisions of the Trust Deed and the Charities and Trustee Investment (Scotland) Act 2005. 

18. KEY MANAGEMENT PERSONNEL The trustees have devolved the day to day management of investments to Rathbone Investment Management. Coutts & Company manage a second portfolio on behalf of the trust. The trustees do not employ managers for other activities of the trust. 

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