2025-03-31-accounts

REGISTERED CHARITY NUMBER: SC040181

rt Page Report of tk Trust¢¢s Ind¢pcndcnt Exarninevs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements

The I￿￿te¢S prcsent their r¢port with the financial statements of the charity for the yedr ended 31 March 2025. The trustees have adopted ihe Provisions of Accounting and Reponing 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 l January 2019). O&JEcfivES AND ACTIVITIES Objectives and aims Thc Purpose of th¢ Trust is to promot¢, firth¢r or support all or any activitics decmcd by law lo be charitable for the benefit of: - Th¢ saving of lives" - The advancement of the arts, h¢ritag¢, cultur¢ of sci¢nc¢: - Th¥ advancement of youth through education, training and ctttz¢nship* - Th¢ ￿lief of those in necd by rcason of age, ill-health, disability, financial hardship or other disadvantages, and - Th¢ promotion of health and well being. AcHIEVEME￿s AND PERFORMANCE Charit•ble activities During the year the trustees consideTed numerous applications for grdnts and approved awards in the sum of £32250. The ￿ants awarded were funded by investment incom¢ earned and are detailed in the notes to the financial statements. Investment perfonn4n¢e The investment rnanagers report a portfolio total rettjm of I.3￿/. (net) for the year ended 31 March 2025. The investsnent return achieved is significantly less than the benchmark. The trustees continue to be dissatisfied with investment perforn]ance and seek ways to improve this. FINANCIAL REVIEW Investment policy and objectives The overall objective is to provide suffIcient income to meet applications for fi￿d5 from good causes throughout each investment year with proper eonsideration for fuilwe need and, if possible. enhancement of the value of the invested funds whilst they ar¢ retaincd. 'fhe funds should be mana8ed on a balanced Tcturn between income and capital with an overall risk category of Medium and nHnaged on a discretionary basis. Reserves poliey It is the policy of the trustees to hold cash reserves adequate to wver twelve months running costs. FUTURE PLANS The trustees will continue to accurnulate investment income for the purpose of providing ￿nt support to the various charitable causes detailed above. The Tn￿e¢S have agreed to focus on charities b&ed in Swtland or the Scottish operations of UK wide charlties. Mlhilst support for national charities will be considered. the Trustees have a preference for helping smaller charities where the Trusl's limited resources are better able to make a material difference. In evaluating appeals the Trustees pay particular artention to an applicant's administration expenses as a ratio of total income and the extent to which they may have access to lottery or other sources of major funding. To Teflect the areas of interest of the original beneficiaries. the tDJStees favour projects focused on and.benefiting the WesL Central and Northeast of Scotland. Awards generally range between £500 and £1.500 although larger payments may be considered in special circumstances. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document The wharity is controlled by its governing documenL a trust deed registered on 12 December 2008. and consti￿teS an unincorporated charity. Recruitment and ap￿intMent of new trustees The power to appoint new and additional trustees is held by the present trustees. Before appointing a new trustee. the cxisting trustees identify the skills and experience sought. Potential trust¢¢s arc provided with infonnation about the baCk￿oUnd and policies of thc In￿t and provided with guidance in relation to trustees, responsibilities b¢fore any appointment is made. Page I

ort of the Trustees STRUCTURF., COVERNANCF. AND MANAGEMET Risk management The trustees have endeavoured to identify and manag¢ the risks to which the charity is exposed and to ensure appropriate controls are tn place to provide reasonable assurance against fraud and eTror. Managemcnt of risk is review￿ T¢gularly at meetings of the trusiccs and whcr¢ n¢w ar¢as of risk ar¢ identified appropriate responses are implemented and recoided. The principal risk faced by th¢ TNst is ihat th¢ inv¢stmcnts do not pcrforn) and capital and income is not maintained. This is of particular concern at th¢ mom¢nt as dividend yields arc at lower levels than historically as a result of the global Coronavirus pandemic. REFERENCE AND ADMINISlliATJVE DETAILS Registered Charity number SC040181 Principal addr￿9 Loch Shcll Dunibert Drive Balfron Stirlingshire G63 OSU Tnifte Independent Examiner Bell Ba￿ & Company Chartered A￿ountants 2 Stewart Street Nliln8avie Glasgow G62 6BW Solicitors TC Young 7 West George Street Glasgow G2 IBA Inveslment Managers Rathknnes 5 George Square Glasgow G2 IDY roved bv order of the board of trustees on 22 December 2025 and signed on its beh￿f by., Page 2

in I report on the accounts for the year ended 31 March 2025 set out on pages four to ten. Respective responsibilities of trust¢es and examiner The LharÉtys trustees are responsible for the preparalion of the accounts in accordance with the ternis 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 l O(l)(a) to (c) of th¢ Accounts Regulations does not appl￿. It Is my responsibility to examine the accounts as requir¢d und¢r S¢aion 44(1 Xc) of th¢ Act and to state wh¢ther parti¢ular Matt¢￿ hav¢ come to my att¢ntion. Bas￿ of the independent examin¢r'$ report My examination was ¢arri¢d out in a¢cordan¢¢ with R¢gulation I l of the Charities Accounts (Scotland) Regulations 2006. An examination includ¢s a r¢vi¢w of th¢ arxounting records kept by th¢ charity and a comparison of the accounts presented with those recoTd5. It a150 includes consideration of any unwsual il¢ms or disclosur¢s in th¢ accounts. and seeking explanations from you as tsvsfres concerning any such matters. The procedur¢s undertaken do not provide all the evidence that would be required in an audit, and consequently I do not ¢xpre5s an audit opinion on th¢ vi¢w giv¢n by the akncounts. IDdepeDdent ¢xamin¢r's statement In connection with my examination, no matter has come to my attention . (l ) which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 44(1)(2) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations" and to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met. or (2) to which, in my opinioffj attention should be drawTA in order to enable a proper understanding of the accounts to be reached. Bell Barr & Company Chartered Accountants 2 Stewart Street Milngavie Glasgow G62 6BW 22 DKember 2025 Page 3

f Fin viti 31.3.25 Unrestricted funds 31.3.24 Total funds Notes INCOME AND F.NDOWMENTS FROM th)nations and legacies 12,500 12,500 Lnvcstmcnt incom¢ 23230 24201 Total 35,736 36,701 ExPE1W￿URE ON Raising funds 7,013 8,008 Charitable aetivities Grants awarded Administration costs 32,250 1,020 27,500 1,020 Total 40,283 36,528 Net gainsl(losses) on investments (35,548) 10.171 NET INCOMEI(EXPENDITURE) (40.095) 10,344 RECONCILIATION OF FUNDS Total funds brought fonvard 882,519 872.175 TOTAL FUNDS CARIUED FORWARD 842,424 882,519 The notes fonn part of these fmancial statements Page 4

31.3.25 Unrestricted funds 31.3.24 Tothl funds Notes FIXED ASSETS InvcstTnents 773,871 829,105 CURRENT ASSETS Cash at bank 69,573 54,434 CRE.DITORS Amounts falling due within one year (1,020) (1,020) NET CURRENT ASSETS 68,553 53,414 TOTAL ASSETS LESS CURRENT LIABILITIES 842,424 882,519 NET ASSETS 842,424 882.519 FUNDS Unrestricted funds: Trust capital fitnd UtKiistributed income fund 802,607 39.817 845,168 37.351 842.424 882,519 TOTAL FUNDS 842,424 882.519 The financial statements were approved by the Board of Trnstees and authoriscd for issue on 22 December 2025 and 'LfL 41 TnLd on ils bLhalf b The notcs fonn part of these financial statements Page S

ncl ncial Statemen ACCOUNTIIYG POLICJES Basis of preparing Ihe financial slatements 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) 'A¢counting and Reporting by Charilies: Statement of Rccommcndcd Practice applicable to charities preparing their accounts in accordance with the Financial Rcporting Stiindard applicable In the UK and Republic of Jreland (FRS 102) (¢ffectiv¢ l January 2019)., Financial Reporting Standard 102 'Thc Financial Rq)orting Standard applicable in the UK and Republic of Ir¢land' and the Charitics and Tn￿le¢ Investment (Scotland) Act 2005. The financial stat¢m¢nts have b¢¢n prepared under th¢ historical cosl convention, with the exceplion of investments which are included at TnaTk¢t value, as modified by the revaluatiorA of certain asscts. Going concern The trustees have r¢vi¢w¢d th¢ charity's operating costs for the next twelve months, and th¢ sourc¢s of funds available, and are satisfied that th¢ charity is a going conc¢rn. ncome All income is recognised in the Statement of Financial ActlVLties once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably, EAPtnditure Liabilities are recognised as expenditure as s¢x)n as there is a legal or Constructive obligation committing the charity to that ex￿￿lItuTe, it 15 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 Telated to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis Consislent with the use of resources. Grants offered subject to conditions which have not been met at the ycar end date are noted as a COTnmitment but not accrued as expenditure. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitsble objectives at the discretion of the trustees. Th¢ trust has no restricted funds. Trust ca This fund represents the initial donation on which the Trust was founde(L plus any realis¢d or unrealised gains or 1055es on the investment portfolio. Investment management fees are paid from this fund. 'buted income fiJn This fimd represents the investment income earned by the TrusL plus gift aid repa>Tnents receive(t less charilable expenditure and governance costs. Flxed asset Investments Quoted fixed asset invesiments are included at closing mid-market value at the balance sheet date. Any gain or loss on revaluation As taken to the Statement of Financial Activities. Cash at bank Cash at bank includes Cash and short terni highly liquid investments with a short Ma￿rity of three months or less from th¢ date of acquisition or opening of the account. Finaneial ittslrumenls The charity only ha5 financial assets and finanoial liabilities of a kind that qualify as basic fmancial instnllnents. Basic financial instnrnents arc initially re¢ognised at transa¢tAon value and subsequently measured at their sctllement value. Page 6 continued...

in DONATIONS AND LEGACIES 31.3.25 31.3.24 Donations 12.500 12.500 INVESfMEIYf INCOME 31.3.25 31.3.24 Dividends- UK Dividends- Foreign Deposit account int¢r¢st Other fixed interest- UK Other fixcd interest- Forcign 12,332 6,277 13,237 5,475 576 3,548 1,365 2,118 1,665 23,236 24,201 IL4ISING FUNDS Inv¢stmenl management costs 31.3.25 31.3.24 Portfolio management 7,013 8,008 GRANTS PAYABLE 31.3.25 31.3.24 Grants awarded 32250 27500 The following donations were awarded during the year: The Royal Scottish National Orchestra Helensburgh and District Access Trust Kings Trust Scotland Asthma Relief Leuchie House Baltron Pathways Royal Legion Pipe Band Inverness Scottish Opera Glasgow Tree Lovers Society Woodend Arts Limited Regional Screen Scotland Canine Concem Scoiland TrLtst Bethany Christian Trusl Sunshine Wishes Banchory Paths National Youth Orchestra of Scotland The Preshal Trust Lodging House Mission The Singers Company Glasgow Care Foundation An Tobar and Mull Theatre SLottish Youth DanLe Breakthrough Tl D National Theatre of Scotland Simba 1,500 500 1,000 500 1.000 1,000 1.000 1,500 750 1.000 500 500 1.000 500 500 1.500 750 500 1.750 1500 1,000 ,500 750 1.000 1,000 Page 7 continued...

table otes to th Fin Year cia GRANTS PA YABLE - continued Camphill School Aberdeen Scottish Mountain Rescue Forget Mc Not Club MusicALL Maggics Forth Valley National Youth Choir of Scotland Friends of Botanic Gardens The Linda Tr¢mbl¢ Foundalion SSAFA Moira Anderson Foundation Citi7£ns Theatre 1,000 1.000 500 500 500 1.000 750 500 500 500 1,500 32250 TRUSTEES, REMUNERATJON AND BENEFtTS There were no trustees, remuneration or other benefits for the year end¢d 31 Mar¢h 2025 nor for the year ended 31 March 2024. Trustees, expeDses There were no trL￿teeS, expenses paid for the year ended 31 March 2025 noT for the year ended 31 March 2024. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2024 Additions Disposals R¢valuation5 829.105 233,173 (253,144) (35263) At 31 MaTch 2025 773,871 ET BOOK VALUE At 31 March 2025 773,871 At 31 March 2024 829,105 Investments are analysed as follows: 31.03.25 31.03.24 UK Non-UK 265,685 508.186 307,422 521.683 773.871 829.105 Page 8 continued...

Note% t CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 A¢¢n￿d ex￿n5¢S 1,020 1.020 MOVEMEiYf Iiy FUNDS Net movement in fiutds At 31.3.25 At 1.4.24 Unre$tri¢ted funds Trust capilal fund Undistributed income fund 845,168 37,351 (42,561) 2,466 802,607 39,817 882,519 (40,095) 842,424 TOTAL FUNDS 882,519 (40,095) 842,424 Net movement in funds, includ¢d in the above are as follows: Incoming resources ResouTces expended Gains and losses Movement in funds Unrestrieted fund5 Trust capital fund Undistributed income fimd (7.013) (33.270) (35.548) (42.561) 2,466 35.736 35.736 (40.283) (35,548) (40,095) TOTAL FUNDS 35,736 (40,283) (35.548) (40,095) Cornparatives for moven)ent in funds Net movement in funds At 3l.3.24 At 1.4.23 Unrestricled ￿Thd$ Trust capital fimd Undistributed income fund 843,005 29.170 2.163 8,181 845,168 37,351 872,175 10.344 882,519 TOTAL FUNDS 872,175 10.344 882,519 Page 9 continued...

Th in MOVEMENT IN FUNDS - eontinued Comparative nel movement in fund& included in IIK above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds un￿￿tricted funds Trust capitsl fund Undistribut¢d income fund (8.008) (28,520) 10.171 2.163 8.181 36,701 36,701 (36,528) 10.171 10,344 TOTAL FUNDS 36,701 (36,528) 10,171 10,344 io. RELATED PARTY DISCLOSURES During the year the following r¢lated party transactions took place: The charity received a donation of £10,000 frorn a truske. The charity made an award of £l,O(K) to Balfron Pathways, a small community charity of which is a trustee. Page 10