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.,
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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
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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
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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
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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.
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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
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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
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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