Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST**
Accounts for the year to 31 December 2025.
Scottish Charity No. SC040034
10 Euclid Crescent Dundee DD1 1AG Tel: 01382 229222 048908-0001
Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST**
## **Report of the Trustees for the year to 31 December 2025.**
## **Current Trustees**
Dr Jonathan Roy McEwen Mrs Catherine Jane Johnston Blackadders Trustees Ltd
## **Agents and Contact address**
Blackadders LLP, 10 Euclid Crescent, Dundee, DD1 1AG.
## **Constitution**
The Trust was constituted by the Will of the late Mrs Edna Mary Leach and registered in the Books of Council and Session on 27 November 2008. A number of Deeds of Assumption followed resulting in the current Trustees as shown above.
The Trustees have considered a policy on Trustee inductions and training prior to new Trustees being approached. This will include awareness of a Trustee’s responsibilities, the governing document, administrative procedures, and the history and philosophical approach of the charity. A new Trustee would receive copies of the previous year’s accounts, minutes of the Trustees’ meetings and a copy of the OSCR leaflet “Guidance for Charity Trustees – acting with care and diligence”, if appropriate. Training is offered to current Trustees as and when required.
## **Charitable Purpose**
The purpose of the Trust is to assist Charitable Institutions for research into treatment, prevention and cure of cancer, heart disease and stroke, the relief of homelessness and the education, care and the treatment of children and young people, and other Charitable Institutions at the Trustees’ discretion.
## **Structure Governance and Management**
## **Legal & Administrative Arrangements**
The report is prepared in accordance with the Constitution of the Charity and the Statement of Recommended Practice - Accounting and Reporting by Charities issued in 2019 and complies with applicable law. The charity is an unincorporated association.
## **Organisational Structure and Decision Making**
The Trust is administered by Blackadders LLP, 10 Euclid Crescent, Dundee on behalf of the Trustees. The Trustees meet to consider grant making, investment reserves, risk management policies and performance. There are no restrictions on the way the body may operate save that the Trustees must implement the objectives of the Trust.
## **Risk Management**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust. Apart from sustained downward stock market movements, the Trustees do not believe that there are any major financial risks to which the Trust is exposed.
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Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST**
## **Report of the Trustees for the year to 31 December 2025 (continued)**
## **Objectives and Activities**
## **Strategy**
The Trustees have pursued their strategy of making donations to locally based charities and organisations wholly from income generated and gains in the value of the investments. They receive and consider quarterly reports from the Investment Managers on the position of the Trust’s portfolio of investments.
## **Achievement and Performance**
The Trustees made grants/donations during the year totalling £50,000.00 (2024 - £49,000.00). The overall value of the unrestricted funds at the close of this account is £583,017.67 (2024 - £586,118.45).
## **Investment Policy and Performance**
The primary investment objective is to achieve a balance of income and capital growth subject to a medium degree of risk. Investment performance is measured and reviewed bi-annually against the ARC Balanced Assets Charity Index. Blackadders Wealth Management LLP provide advice and portfolio management services and their advice was taken throughout the period of this account. AJ Bell Nominees Ltd are responsible for custody of stock and to provide income collection and other services.
## **Reserves Policy**
The Trustees' present intention is to distribute the whole of the annual net income of the Trust or such funds which are considered appropriate in any one year.
## **Grant Making Policy and Objectives**
The objective of the Trust is to distribute funds in accordance with the Charitable Purpose outlined on the previous page. Applications are reviewed and considered on a regular basis and can be funded for more than one year.
## **Plans for the Future**
No changes are envisaged in the Trust’s policies as outlined above.
## **Independent Examiner**
The independent examiner appointed for the current and following years is bk plus Limited, Chartered Certified Accountants, Dundee. So far as each Trustee is concerned there is no relevant information of which the independent examiner is unaware. Each Trustee has taken the appropriate steps as a Trustee to make themselves aware of such information and to establish the independent examiner is aware of it.
## **Financial Review**
The results of the year are set out in the statement of financial activities.
Approved by the Trustees and signed on their behalf:
- JA dalt a, [ ______________________________________________________________ Date: _____________________ peeF927935623004A3... by: Trustee
26 March 2026 | 10:23 AM GMT
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Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST**
## **Statement of Trustees' Responsibilities**
The Trustees are responsible for preparing the annual report and the accounts in accordance with applicable law and regulations.
Charity law requires the Trustees to prepare accounts for each financial year. Under that law the Trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Practice and applicable law). The accounts are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those accounts the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.
- observe the methods and principles in the Charities SORP.
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 accounts comply with 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.
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Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST Report of the Independent Examiner to the Trustees**
I report on the accounts of the Trust for the year ended 31 December 2025 which are set out on pages 2 to 10.
## **Respective responsibilities of the Trustees and Examiner**
The charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustees Investment (Scotland) Act 2005 ("the 2005 Act") and the Charities Accounts (Scotland) Regulations 2006 (as amended) ("the 2006 Accounts Regulations"). The charity’s Trustees consider that the audit requirement of Regulation 10 (1) (a) to (c) of the 2006 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 Independent Examiner’s Statement**
My examination was carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. 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 seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner’s Statement**
In the course of my examination, no matter has come to my attention:
- 1 which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 44 (1)(a) of the 2005 Act and Regulation 4
- of the Charities Accounts (Scotland) Regulations 2006 (as amended), and
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of
- the Charities Accounts (Scotland) Regulations 2006 (as amended)
have not been met, or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
26 March 2026 | 11:12 AM GMT _______________________________________________ Date: 0023CD6B60BA410... Mr Iain McBride, CA bk plus Ltd Chartered Certified Accountants Stannergate House 41 Dundee Road West Broughty Ferry, Dundee, DD5 1NB
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Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST**
## Statement of Financial Activities for the year to 31 December 2025.
|_Note_
2025
**Income from**
Investments and deposits
13,051.64
£
£
**Total Income**
13,051.64
£
£
**Expenditure on**
Charitable Activities
_2_
64,130.00
£
£
Cost of raising funds
_3_
5,377.33
£
£
**Total Expenditure**
69,507.33
£
£
**Net (expenditure) before gains and losses in**
**investments**
56,455.69)
(£
(£
Gain on realisation of investment assets
15,710.87
£
£
Net unrealised increase/(decrease) in valuation of
investment assets
_5_
37,644.04
£
£
**Net Gains/(Losses) on Investments**
53,354.91
£
£
**Net movement in funds**
3,100.78)
(£
(£
**Funds reconciliation**
Total Funds brought forward
586,118.45
£
£
Total Funds carried forward
583,017.67
£
£|£|2024 (restated)|
|---|---|---|
|||17,772.16
17,772.16
70,624.00
4,967.36
75,591.36
57,819.20)
6,559.90
21,751.46
28,311.36
29,507.84)
615,626.29
586,118.45
|
||£||
||£
£||
||£||
||£||
All activities relate to continuing operations The notes on pages 8 to 10 form part of these accounts
Page 6
Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST**
## **Balance sheet at 31 December 2025**
||||2025||2024 (restated)|
|---|---|---|---|---|---|
|**Fixed Assets**||||||
|Investments|_5_|£|570,966.00
£|£|573,710.00
£|
|**Current assets - Cash at Bank**||||||
|AJ Bell Nominees Ltd||£|17,781.67
£|£|16,920.45
£|
|||£|17,781.67
£|£|16,920.45
£|
|**Current Liabilities**||||||
|Creditors: Amounts falling due within one year|_6_|£|5,730.00
£|£|4,512.00
£|
|**Net Current Assets**||£|12,051.67
£|£|12,408.45
£|
|**Net Assets**||£|583,017.67
£|£|586,118.45
£|
|**The funds of the Charity**||||||
|Unrestricted funds||£|583,017.67
£|£|586,118.45
£|
Approved by the Trustees and signed on their behalf
Aja4 lt L, 26 March 2026 | 10:23 AM GMT _______________________________________________ Date: (. DocuSignedF927935623004A3... by: Trustee
Page 7
Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST**
## **Notes to the Accounts**
## **1. Accounting policies**
## **Basis of accounting**
As a result of the charity’s receipts in the year to 31 December 2025 exceeding the threshold up to which simple Receipts and Payments accounts can be presented, the accounts require to be prepared on the accruals basis and now reflect a Statement of financial activity (SOFA), a balance sheet, as well as notes to the accounts. Consequently, the comparative amounts for the year to 31 December 2024 have been restated to reflect the accruals basis as well.
The accounts are prepared under the historical cost convention as modified by the revaluation of investments and include the results of the charity’s operations as indicated in the Report of the Trustees, all of which are continuing.
The accounts have been prepared in accordance with applicable accounting standards and 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 Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The accounts have been prepared in Sterling which is the functional currency of the charity.
## **Incoming Resources**
Incoming resources comprise income from investments and deposits and are included in the Statement of Financial Activities (SOFA) in the year in which receivable.
## **Expenditure and irrecoverable VAT**
All expenditure is included on an accruals basis and is recognised when there is legal obligation to pay for expenditure. Irrecoverable VAT is charged against the category of resources expended for which it is incurred.
- Charitable activities include expenditure associated with grant making.
- Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
- Support costs include central functions and have been allocated on a basis consistent with the use of resources.
- The cost of managing investments is charged against investment capital, reflecting the total return approach to investment management. Any costs associated with the sale or purchase of investments are accounted for as part of the sale or purchase price of the investments.
## **Fixed Asset Investments**
Investments are included at market value. Realised gains and losses, representing the difference between sale proceeds and cost are dealt with in the SOFA. Unrealised gains and losses, representing the movement in the market value of investments over the financial year, or from the date of purchase if acquired during the financial year, are shown in note 5. In the case of a permanent diminution in the value of investments, provision is made in the SOFA to reduce the carrying value of the recoverable amounts.
## **Grants**
Grants comprise those paid in the accounting period and unconditional grants where the recipient has been notified of a future award. Grants that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant are outside the control of the Trust.
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Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST Notes to the Accounts (continued)**
## **2. Charitable Activities**
2025 2024
The charity did not undertake any activity directly but met its charitable purposes by making Grants. Grants for Trust purposes included in the accounts were as follows:
|Barnardo's Scotland
Bethany Christian Trust
Breakthrough T1D
Cathedral Church of St Paul, Dundee
Cats Protection League
Cerebral palsy Scotland
Church Army
CLICSargent – Young Lives v Cancer
Dundee Age Concern
Dundee Museum of Transport
East Fife Mental Health Befriending Project – Adolescents
Families First-St Andrews
Feeling Strong
Fife Carers Centre
Grampian Society for the Blind
Headway The Brain Injury Association
Kanzen for Life
Macmillan Cancer Support
Maggies Dundee
Marie Curie
National Youth Choir of Scotland
Parkinsons Disease Society
Pet Fostering Service Scotland
Royal Scottish National Orchestra
Samaritans Dundee
Scotland Yard Adventure Centre
Scottish Huntington's Association
Sense Scotland Fundraising main
Sistema Scotland for Big Noise Douglas
Spina Bifida Hydrocephalus Scotland
SupportED (The Linda Tremble Foundation)
Teapot Trust SCIO
The Prince's Trust
The Yard
Donations £1,000 or less
Add: Support Costs (note 4)|5,000.00
£
2,000.00
£
1,000.00
£
5,000.00
£
2,000.00
£
1,000.00
£
-
£
2,000.00
£
2,000.00
£
1,000.00
£
1,000.00
£
2,000.00
£
1,000.00
£
-
£
1,000.00
£
1,000.00
£
2,000.00
£
-
£
2,000.00
£
2,000.00
£
-
£
2,000.00
£
2,000.00
£
2,000.00
£
2,000.00
£
2,000.00
£
1,000.00
£
2,000.00
£
1,000.00
£
-
£
1,000.00
£
2,000.00
£
-
£
-
£
-
£
50,000.00
£
14,130.00
£
64,130.00
£|5,000.00
£
2,000.00
£
-
£
5,000.00
£
2,000.00
£
1,000.00
£
3,000.00
£
-
£
-
£
-
£
-
£
-
£
-
£
2,000.00
£
1,000.00
£
-
£
-
£
2,000.00
£
2,000.00
£
-
£
2,500.00
£
-
£
-
£
2,000.00
£
2,000.00
£
-
£
1,000.00
£
-
£
1,000.00
£
2,000.00
£
-
£
-
£
2,000.00
£
2,000.00
£
9,500.00
£|
|---|---|---|
|||49,000.00
£
21,624.00
£|
|||70,624.00
£|
Page 9
Docusign Envelope ID: 92C732C3-D542-4782-8910-0415139CFE1B
## **LEACH FAMILY CHARITABLE TRUST Notes to the Accounts (continued)**
|**3. Cost of raising funds**
Investment Management Costs
**4.**
**Support Costs**
Independent Examiners fees
Management Costs
**5.**
**Investments**
Market Value at 31.12.2024
Additions at cost
Less: Disposals at carrying value
Unrealised Gain/(Loss) on Revaluation
Market Value at 31.12.2025
All investments held are UK listed securities.
**6.**
**Sundry Creditors**
Due to Law Agents
Due to others
Total creditors under one year|2025
5,377.33
£
1,200.00
£
12,930.00
£
14,130.00
£
573,710.00
£
268,839.96
£
842,549.96
£
(309,228.00)
£
533,321.96
£
37,644.04
£
570,966.00
£
4,032.00
£
1,698.00
£
5,730.00
£|2024
4,967.36
£
2,040.00
£
19,584.00
£
21,624.00
£
608,650.00
£
173,699.54
£
782,349.54
£
(230,391.00)
£
551,958.54
£
21,751.46
£
573,710.00
£
3,066.00
£
1,446.00
£
4,512.00
£|2024|
|---|---|---|---|
## **7. Controlling Party**
The Trust was under the control of the Trustees throughout the current and previous year.
## **8. Charitable funds**
The unrestricted funds are available to be spent for any of the purposes of the charity.
## **9. Trustees Remuneration & Related Party Transactions**
The Trustees did not receive any remuneration or expenses during the period of this account or the previous one. The charity has no employees. The Directors of Blackadders Trustees Ltd are all Partners in the firm of Blackadders LLP which received £10,360 (2024 £8,555) plus vat for administration services during the year. They are also Partners in Blackadders Wealth Management LLP which received £4,481.10 (2024 £4,139.47) plus vat for investment portfolio discretionary management.
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