Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST CHARITY NUMBER: SC039781
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR YEAR ENDED 31 JULY 2025
Docusign Envelope ID; 3558F103-BSEF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
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Trustees:
Charity Number:
Address: c/o Klondyke Fishing Company Limited
Steamboat Quay
North Breakwater
Fraserburgh
AB43 SEE
Solicitors: Brown & McRae
Anderson House
9-11 Frithside Street
Fraserburgh
AB43 9AB
Bankers: Virgin Money
43 Broad Street
Peterhead
AB42 1JB
Independent Auditor: Hall Morrice LLP
6 & 7 Queens Terrace
Aberdeen
AB10 1XL
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Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees’ Annual Report | 1-2 |
| Independent Auditor's Report | 3-5 |
| Income and Expenditure Account | 6 |
| Balance Sheet | 7 |
| Statement ofCash Flows | 8 |
| NotestotheAccounts | 9-11 |
Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025
The Trustees present their report with the financial statements of the charity for the year ended 31 July 2025. The trustees have adopted the provisions of Accounting and Reporting 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
The object of the Trust is to support charitable bodies whose purposes involve the prevention and relief of poverty, the advancement of education and the advancement of health.
The charity has continued to achieve its objectives by making awards to a number of charities during the year.
Achievements and Performance
In the year the Trustees made 16 (2024 — 16) awards to charities amounting to £482,000 (2024 - £432,000) that provided support in the areas set out in the objectives of the Trust.
Financial Review
Principal funding sources The charity has historically been funded by donations from William Whyte Tait and his family. Donations totalling £535,000 (2024 - £220,000) were advanced during the year.
Investment policy and objectives
The trustees, having regard to the requirement to be able to respond quickly when needed, have kept available funds in interest-bearing deposits and seek to achieve the highest possible rate of return consistent with the need to generate income and to be able to make grants in emergency.
Reserves policy
The charity has built up sufficient reserves to generate a satisfactory level of annual income whilst allowing grant awards to be made as and when desired by the trustees. The charity has minimal ongoing overheads so no set level of reserves is required to safeguard ongoing activities.
The balances held as unrestricted funds at 31 July 2025 were £10,918,391.
Future Plans
The trustees will continue to consider opportunities available to meet the charity's charitable purposes by way of grant making to other charitable organisations.
Structure, Governance and Management
The charity is an unincorporated Trust constituted by Deed of Trust by William Whyte Tait, dated 4 August 2008.
The Trust Deed allows a new trustee to be appointed by resolution of the trustees.
The Trustees meet when appropriate to agree the broad strategy and areas of activity for the Trust. This includes the consideration of grant making, investments, reserves, risk management policies and performance.
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Accordingly the trustees undertake an annual review of the charity's activities to establish the principal risks and uncertainties the charity faces. The trustees then establish and implement policies to mitigate those risks identified in the annual review.
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Docusign Envelope ID: 3558F103-BSEF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST REPORT OF THE TRUSTEES (CONT'D) FOR THE YEAR ENDED 31 JULY 2025
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP; © make judgements and estimates that are reasonable and prudent; e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution. 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.
Disclosure of Information to Auditors
Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
Auditors
Hall Morrice LLP were re-appointed as auditors of the charity and a resolution proposing that they be reappointed in future years will be put to the members.
The Trustees have prepared this report in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ and in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended).
On Behalf of the Trustees
30%:
Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST INDEPENDENT AUDITORS REPORT TO THE TRUSTEES
Opinion
We have audited the financial statements of William Whyte Tait Charitable Trust for the year ended 31 July 2025, which comprise of the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows 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 United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland.
In our opinion the financial statements:
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e give a true and fair view of the state of the charity's affairs as at 31 July 2025, and of its income and expenditure for the year then ended;
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e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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e 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 (as amended).
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 Auditor's 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 other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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.
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 course of 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.
ee
Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (CONTINUED)
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion:
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¢ _ the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
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proper accounting records have not been kept; or
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¢ 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.
Responsibilities of trustees
As explained more fully in the Trustees’ Responsibilities Statement set out in the Trustees’ Report, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing 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.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, 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 error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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 fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
In identifying and assessing the risk of material misstatement due to non-compliance with laws and regulations we have:
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e Ensured that the engagement team had the appropriate competence, capabilities and skills to identify or recognise non-compliance with laws and regulations;
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¢ Identified the laws and regulations applicable to the entity through discussions with directors and management and through our own knowledge of the sector;
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« Focused on the specific laws and regulations we consider may have a direct effect on the financial statements, including the Charities and Trustee Investment (Scotland) Act 2005 and the Charities SORP;
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« Reviewed the financial statement disclosures and tested to supporting documentation to assess compliance with applicable laws and regulations;
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¢ Made enquiries of management and inspected correspondence with the charity’s regulator OSCR :; and
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Ensured the engagement team remained alert to instances of non-compliance throughout the audit.
wie
Docusign Envelope ID: 3558F103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (CONTINUED
In identifying and assessing the risk of material misstatement due to irregularities, including fraud and how it may occur, and the potential for management bias and the override of controls we have:
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e Obtained an understanding of the entity's operations, including the nature of its revenue sources and of its objectives and strategies, to understand the classes of transactions, account balances, expected financial disclosures and business risks that may result in risk of material misstatement;
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¢ Obtained an understanding of the internal controls in place to mitigate risks of irregularities, including fraud;
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- Vouched balances and reconciling items in key control account reconciliations to supporting documentation;
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¢ Carried out detailed testing, on a sample basis, to verify the completeness, occurrence, existence and accuracy of transactions and balances;
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Carried out detailed testing to verify the completeness, validity, existence and accuracy of income including cut-off testing and ensuring income recognition is in line with stated accounting policies;
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¢ Made enquiries of management as to where they consider there was a susceptibility to fraud, and their knowledge of any actual, suspected or alleged fraud;
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¢ Investigated the rationale behind any significant or unusual transactions; and ¢ Evaluated the appropriateness of accounting policies and the reasonableness of accounting estimates.
We did not identify any matters relating to non-compliance with laws and regulations, or relating to fraud.
Because of the inherent limitations of an audit, there is an unavoidable risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation. The risk of not detecting a material misstatement due to fraud is inherently more difficult than detecting those that result from error as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation. In addition, the further removed any non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 auditor's 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.
Hall Morrice LLP Statutory Auditors Aberdeen, Date: 14 October 2025
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Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR YEAR ENDED 31 JULY 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| £ | £ | ||
| Notes | |||
| INCOME FROM | |||
| Donations and legacies | 2 | 668,750 | 275,000 |
| Investments income | 3 | 452.119 | 429 362 |
| 1,120,869 | 704,362 | ||
| EXPENDITURE ON | |||
| Charitable activities | |||
| Grants awarded | 4 | 482.000 | 432,000 |
| 482,000 | 432.000 | ||
| NETINCOME | 638,869 | 272,362 | |
| Total funds brought forward | 10.279,522 | 10,007,160 | |
| TOTALFUNDSCARRIEDFORWARD | 10,918,391 | 10,279,522 |
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Docusign Envelope ID: 3558F103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST
BALANCE SHEET AS AT 31 JULY 2025
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|||||||
|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Total|
|funds|funds|
|3|£|
|Notes|
|CURRENT|ASSETS|
|Investments|—|Notice|Deposits|9,525,364|9,358,920|
|Prepayments|and|accrued|income|359,566|84,590|
|Cash|at|bank|1,033,461|836,012|
|10.918.391|10,.279.522|
|NET CURRENT ASSETS|10.918.391|10,279,522|
|NET ASSETS|10,918,391|10,279,522|
|FUNDS|
|Unrestricted|funds|6|10,918,391|10,279,522|
|TOTAL FUNDS|10,918,391|10,279,522|
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The financial statements were approved by the Board of Trustees on 14 October 2025 and were signed on its behalf by:
Ey
Docusign Envelope ID: 3558F103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| z | 2 | |||
| Notes | ||||
| Cash flows from operating activities: | ||||
| Cash generated by/(used in) operations | i | (88,226) | (171,447) | |
| Net cash generated by/(used in) operating activities | (88,226) | (171,447) | ||
| Cash flows from investing activities: | ||||
| Interest received | 452,119 | 429.362 | ||
| Net cash generated by investing activities | 452,119 | 429.362 | ||
| Change in cash and cash equivalents in the reporting period | 363,893 | 257,915 | ||
| Cash and cash equivalents at the beginning ofthe reporting | ||||
| period | 10,194,932 | 9.937.017 | ||
| Cash and cash equivalents atthe end ofthe reporting period | 10,558,825 | 10,194,932 | ||
| i. | RECONCILIATION OFNET INCOME/(EXPENDITURE) TONET | |||
| CASH FLOW FROM OPERATING ACTIVITIES | ||||
| 2025 | 2024 | |||
| £ | Ps | |||
| Net income forthe reporting period | ||||
| (as perthe statement offinancial activities) | 638,869 | 272,362 | ||
| Adjustments for: | ||||
| Interest received Increase in debtors |
(452,119) (274,976) |
(429,362) (14,447) |
||
| Netcash generated by/(used in)operating activities | (88,226) | (171,447) | ||
| ii. | ANALYSIS OF CHANGES IN NET DEBT | |||
| 1 August | 31 July | |||
| 2024 | Cash Flows | 2025 | ||
| £ | £ | £ | ||
| Investments— Notice Deposits | 9,358,920 | 166,444 | 9,525,364 | |
| Cash atbankand in hand | 836.012 | 197,449 | 1,033,461 | |
| 10,194,932 | 363,893 | 10,558,825 |
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Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST
NOTES TO FINANCIAL STATEMENTS FOR YEAR ENDED 31 JULY 2025
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The trust constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The trustees are of the opinion that there is sufficient resources available to continue the activities of the charity over the next 12 months. The trustees, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the charity has adequate resources to continue for the foreseeable future. As a result the trustees have continued to adopt the going concern basis of accounting in preparing these financial statements.
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.
Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably the charity: this is normally upon notification of the interest paid or payable by the Bank.
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.
Grant making
Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such as granted being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Allocation and apportionment of costs
Support costs are allocated between other support costs and charitable activities. Support costs are allocated to charitable activities where they directly relate to those activities, otherwise they are allocated to other support costs. These costs relate to the administrative costs of maintaining the charity’s bank account.
Taxation The charity is exempt from tax on its charitable activities.
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Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST
NOTES TO FINANCIAL STATEMENTS (Cont'd) FOR YEAR ENDED 31 JULY 2025
5. |TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.
- MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Incoming | Resources | |||
| At 01.08.24 | resources | expended | At 31.07.25 | |
| £ | = | £ | £ | |
| Unrestricted funds | ||||
| General fund | 10,279,522 | 1,120,869 | 482.000 | 10.918.391 |
| TOTALFUNDS | 10,279,522 | 1,120,869 | 482,000 | 10,918,391 |
- RELATED PARTY DISCLOSURE
During the year the trust received donations from two trustees and other related parties totalling £535,000 (2024 - £220,000).
- ULTIMATE CONTROLLING PARTY
The Trustees as a body control the charity.
YYoe
Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
WILLIAM WHYTE TAIT CHARITABLE TRUST
NOTES TO FINANCIAL STATEMENTS (Cont'd) FOR YEAR ENDED 31 JULY 2025
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with other banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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 ofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted |
Restricted funds can only be used for particular restricted purposes within the objects ofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted |
Restricted funds can only be used for particular restricted purposes within the objects ofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted |
|
|---|---|---|---|
| purposes. No restricted funds have existed as yet. | |||
| 2. | DONATIONSAND LEGACIES | 2025 | 2024 |
| Donations | £ 535,000 |
£ 220,000 |
|
| Gift aid | 133.750 | 55.000 | |
| 668,750 | 275,000 | ||
| 3. | INVESTMENT INCOME | 2025 | 2024 |
| £ | £ | ||
| Depositaccount interest | 452,119 | 429,362 | |
| 4. | GRANTSAWARDED | 2025 | 2024 |
| £ | £ | ||
| Total grants paid to institutions during the yearwas as follows: | |||
| Islamic Relief | 200,000 | 150,000 | |
| UNICEF | 50,000 | 50,000 | |
| British Red Cross | 50,000 | 50,000 | |
| Save the Children | 50,000 | 50,000 | |
| Action Aid | 25,000 | 25,000 | |
| Smile Train | 20,000 | 20,000 | |
| Water Aid | 30,000 | 30,000 | |
| Barbados | 10,000 | 10,000 | |
| NSPCC | 10,000 | 10,000 | |
| PlanUK C Clasp Motivation |
2,000 - 5,000 |
2,000 2,000 5,000 |
|
| Anti Slavery | 5,000 | 5,000 | |
| Human Trafficking | 5,000 | 5,000 | |
| Sightsavers | 15,000 | 15,000 | |
| MacMillan Cancer | 3,000 | 3,000 | |
| Love Oliver | 2,000 | - | |
| 482,000 | 432,000 |
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Docusign Envelope ID: 3558F 103-B9EF-4AED-B38F-34D3E9C7867E
13 October 2025
Hall Morrice LLP
Chartered Accountants 6 & 7 Queens Terrace Aberdeen. AB10 1XL
Your Ref: SLF/WIL9805
Dear Sirs
Financial Statements
For Year Ended 31 July 2025
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your audit of the charity's financial statements for the year ended 31 July 2025. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.
General
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All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
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All the accounting records have been made available to you for the purpose of your audit. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Office of the Scottish Charity Regulator.
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The financial statements are free of material misstatements, including omissions.
Internal control and fraud
-
We acknowledge our responsibility for the design, implementation and maintenance of internal control systems to prevent and detect fraud and error. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud.
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We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who havea significant role in internal control or others that could have a material effect on the financial statements.
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We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entity's financial statements communicated by current or former employees, analysts, regulators or others.
Assets and liabilities
- The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
Docusign Envelope ID: 3558F103-B9EF-4AED-B38F-34D3E9C7867E
oe
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All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.
-
We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
Accounting estimates
- Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
Loans and arrangements
- The charitable company has not granted any advances or credits to, or made guarantees on behalf of, directors other than those disclosed in the financial statements.
Legal claims
- We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for, and disclosed in, the financial statements.
Laws and regulations
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13. We have disclosed to you all known instances of non-compliance or suspected non-compliance
with laws and regulations whose effects should be considered when preparing the financial
statements.
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Related parties
- Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.
Subsequent events
- All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
Going concern
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16. We believe that the charity's financial statements should be prepared on a going concern basis
on the grounds that current and future sources of funding or support will be more than adequate
for the charity's needs. We have considered a period of twelve months from the date of approval
of the financial statements. We believe that no further disclosures relating to the charity's ability
to continue as a going concern need to be made in the financial statements.
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Grants and donations
- All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that so far as we are aware, there is no relevant audit information needed by you in connection with preparing your audit report of which you are unaware.
Docusign Envelope ID: 3558F103-B9EF-4AED-B38F-34D3E9C7867E
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Each director has taken all the steps that he ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that you are aware of that information.
Yours faithfully