REGISTERED CHARITY NUMBER: SCIJ41J675 Una111 Financial tatements for the Year Ended 5 Fe 2025 The CThaTles and Taws¢ & Paruxrs Chartwed A¢countsnts 18 North Silver Sireet Aberdeen ABIO IJU
The Charles and Jan¢ Allan M¢moiial Fund Contenis tsf the Finarrial Statements for the Year nd¢d 5 Febw 2025 Pa8¢ Report of Ihe Truslees Independeni ExamÉneI5 Report Siatement of Financial Activitie5 Balance Sheet Notes to th¢ Fina11 s*M¢ 7 to 12 Detailed Stat¢m¢nt of Fin•n¢ial Activities 13
The Charles Jane AIIAn Memorial Fund n f Ihe Tnjstees for Ihc Year Ervjcd 5 F¢brn 2025 The trustees present their reporl wilh the flnancial statemcnts of the charity for the year crKled S Fdmiary 2025. The trwstees have adopted the provisions of Acujunting and Rewjrting by Charities-. Staternenl of Recornmended Practice applicable io chaniies preparing Iheir xcounts in acc(Kdance with the Financial Reponing Standard applicable in the UK and Republic of I]and IFRS 1021 leffedive l January 2019). OW£CTIVES AND ACWIVITIES ObJeetlve$ lms The objective of the portfolio. managed by Rossie House Inveslmeni managem1. is lo achieve a re8ular income for beneficiaries and capitsl 810h to ensure cothinuiiy of ihe Tnj. As in every yvdr. Ihe balance aller deduaion of expenses may ai the Twsitts discrefion te paid over 10 the beneficiarhes annually. The balartce of revenue as at 5 FebTuary was £98.847 {2024. £71.2411. The balance of expendabl¥ eJ¥lowm¢ni fundts. was £33,79212024.. £67,114). Grantmaklng The fimd has the following beneficiaries accordin8 to the will: Briiith Heart F(Trundation Erskine Hospital Marie Curie Can¢¢r Care The Scottish National Institute for the War Blinded (now as Sighi Scotland Veternns) Royal National Insiiluie for ihe Blind The Audio108y Department and Hearing Aid Clinic. Aberdeen Royal Hospit•ls NHS Trusi (now known as NHS Grampian Ermlowmenl Fund) The will 5talc5 that ihe trutt5 may considei oiher ¢han"lies whose objects similat toany of the iKsve beneficiaries. During th¢ year the Tntst made payments of £45.0 (2024.. £45.(M)O) to the above bencficiarics. ACHIEVEMENTS AND PERFORMANCE Investmebt performante The TThst¢¢5 continually review ih¢ ponfolio. llKJnitor th¢ fi]nds and di%u55 th¢ inv¢5tTtMt FINANCIAL REVIEW PrlnclpAI fundltsg $4)ur¢es The financial slatemenis. presented oveEkaf. show thit ihe charity¥ 8]Dss iome amounted 10 £62,253 in this ¢Yportin8 period 12024-. £57,3(K)}. The charity's main source of Iorne 15 the investment income geneAied by the expendable endowmeni hJThJ of £58.54412024.. £52.424). (Xher $owC of IOme iogdher arnounied 10 £3,709.12024.. £4.876). Gross cxpenditurc arnounkd to £7Q575 (2024: £67,752) aTh] rompriscd the folloiving: Investment manag¢menl costs Grantg to in$titu¢ions Govemaneecosts £14.451 £45,tKK) £11 124 £70 During thc year. the Tn&ees have instmctcd R055ic House Investtxni managennI to manage the charitys ithv¢sim¢nis fvnds on o dis¢re¢ionory basis. The TN#e¢s hav¢ advis4 th81 ih¢y are pl¢Ted to aept a medium l¢vel of risk. Rc6sie House InvestmeN Monagemenl Ire insMKi¢d ¥ bal•n¢e be1We ¢apii&l wwth and iOMe. Reserve5 pou The charitys unresiric*d reserves ai the end of thi5 wxl ai £64.156 (2024.. £84,(O21. The charity's expendable trtthwmeni fvnds at the ofihis period siood ai £3.019.(Y)3 (2024.. £2.696,0471. The Trustees 8enerdlly seek kj apply the wIle fTee income of the charity. makin8 rea)nable provis for professional fees and outlays where apprcyTiale. Pa8e I
The Charles and Jane Allan Memorial Fund ort ofihe Trusttts for Ihe Year Ended 5 F¢bwa 2025 FUTURE PLANS The trustee5 will continue lo operate the Tnjsi in Ihe same mant)er. with Ltdingham Ch11nrS LLP carrying out the day to dthy administraiion of Ihe Tmsi and Rossie How coniinuing to manage the investment lo fulfil the Trnst's objeciives. STRUCTURL GOVERNANCE AND MANAGEMENT GoverDlng document The charity is controlled by it's soveming dLuThent, a deed of tTUSt, and conStileS an unitwrnted Charity. The is a Charitable fTUSi fomwj and adminisiered under Ihe lern of the will by Jane Barrack Kidd or Allan dated 10 February 1997 and gisl¢red in ihe Book5 of COU11 a[ Se55ion on 18 Au8usI 2008. Reernltmtnl •ppointmeDt of nelv lrnst¢¢s The Trustees wert ori8inally appoiThied in Trua Disposiiion al ScttlcTnent. The Trustees are assumed {and rtsignl with ihe consent of the existing Trnstees, under Stttion 3 of Tnjsts {Scod8TMI) Act 1921 ar Section 13 of the Law Reforni (Misttllane04Js Provisions) IScoriarMII Act 1990. remutherntion aid ¢xp¢axs The tharity neiih¢r Mlleral¢S nor reirnbmes the T fv any inci(kntsl ¢X¢S in¢urred in the discharye of their duties. D Watson was a kvrtner (and 1$ now a eonwltant) of Ledin8harn Cha]mers LLP. Tr Tnjsree is Ledirtgham Chalmers Truslee ComrAny Lirnited. Ledingham Chalm¢rs provided administratll services w the Tn&. durin8 ihe yedr. with fees th iothlleil £9,LKKI (2024.. £6.5711 for the enthd 5 Febnry 2025. Rl$k mth&gernent The twstee5 have a duty to idenlify and review the risks io which the charity i5 CXW5ed to ensur¢ appropriaie controls are in place to WOVLde ffxsonable againsi frnud and error. These ielate. in the main to illV¢5tment ma2¢M¢ and have been ameliornied by ihe employment of an investment manager. The trusiecs al&) pro1 againsi th¢ risk of Lhe financi Mismanagernent by the aryoinim¢nt of solicitOTS, who ar¢ bound by the Law Society of S¢otiand Solicitorn ACC]ts Rules in relation to their cli¢nt rnoni¢s to ¢any out the day-io-day administration of ihe In IN wmpliance with re8ulatlOlLS governing ¢haniies. REFERENCE AND ADMINISTRATIVE DETAItS Reglstered Charlty Trumber SC040675 Prlnclpll Addre55 elo Ledingharn Chalnm LLP Johnstone House 52-54 Rose Slreei Aberdeen Scotland ABIO IHA Trustees Ledinghain Chalrn¢r5 Company Limiied lJdep¢md¢nt Eyamln Tawse & Partners Chrtered Accountants 18 North Silver Street Aberdeen ABIO IJU Pa8e 2
The Charles and Jane Allan Metnorial Fun ort of the Trusr for the Year Ended S Feb 2025 Approved by (Kder of the ard of on and signed its hehalf by- Page 3
Ind Th J]denl Examiner's R rt to the Twsw of harles and Jane Allan MenioFial Fund Rt$pectlv¢ respon$lbllltle5 Of tr•5ttts and examiner The charity's ITUStees are responsible for the pyeparntion ofthe a¢counts in atldance with the tern of the Charsties and Tree Investment {Scoilandl Aci 2(X)5 and Ihe Charities Accounts {ScollalI Re8ulatii$ 21)06 (as amended). The chariiy's trnslees consider thai Ihe audil Tequiremenl of Regulalion 10(IMal io {c) ofihe Ac¢owits Re8ulatlOll5 does not apply. It is my reswnsibility to examine ihe accounts as rwuir¢d under Seaion 44(1 l(c) of ihe Act and 10 511te whether pariicular rnaltcr5 hav¢ com¢ my wien11_ Basts of tkc Indcpendtmt examiNtr's TePOrt My examirhation was carrKd out in accordance with Regulation I l of theCharitTes Acl (Scotland) Regulations 2)6. An examinaiion includes a review of the accouniing recoTds kept by the charity and a comparison of the aecounts presented wTrth tlK)se recordL It alw includes ¢SideratIon of any unuwjal items or dlselosures in the 8ccoullts. and seekin explanaii(Ms from you as tswees cortcerning any mtttt¢rs. The pIcKed undertaken do noi pmvide all the eviden¢e that wotsld required in an audit, ar¥1 rU¢[Y I do exprts3 an audit opinion on the view giv¢n by the accounts. IndepeTrd¢Tht ¢xgmlxer's stiemet In tonnetiion with my examinaiiort. no mailer ha5 come to rny attention: (11 whirh giv¢5 me Teasonable cause to t¢lieve thi. in any maierial respeeL the requiternents - to keep accountin8 Ttcord5 tn a¢¢ordan¢¢ with Settion 44(1 of the 25 Act and Regulati 4 of th¢ 2 Ac¢ounis Regulations.. and - to prepgre aecount$ which attord with the fft¢counting records and to LYJn]ply with Re8ulation 8 of the 2(K16 Accounts Regulations have not been met; or {2) to which, in my opinion. attention should be drawn in order to enable a proper undersunding of the accounts to be reacheo. Tawse & Partners Chartered Accouniortts 18 Worth Silver Street Aberd¢¢n ABIO IJU Page 4
The Charles and Jane Allan Memorial Fund Stateimerbt of Financial Activiti for Ihe Year Ended S Feb 2025 5.2.25 Tal 5.2.24 Total fjjnds Unresiricled E41dowment fund fund Notes INCOME AND ENDOWMEIYTS FROM Investment Liicon 61.409 57.3(K) EXPENDITURE ON Raising fid$ 14.451 14,451 13.566 ClJarlt*bk 8¢vItIeS Payment to benefKiaries 45.(XM) 45.[ 45,IXKI Other 11.124 Totil Net 8ainslllosses) on investhicnts 310.862 79 053) IYET 114COMFJ{EXPENDITURE Transfers betwttn funds {55.2801 34.774 357.820 34.774 302.540 (89.505) 10 N¢t movement l• fmnds (20.5061 323.046 302.540 {89,505) RECONCILIATION OF FUNDS Total funds brought forward 2.6(1 2,780,7 2,870,214 TOTAL FUNDS CARRIED FORWARD 64.156 3019093 3 083.249 The n¢Xes forni part ofth¢s¢ financial thlements Page 5
The Charles and Jane Allan Memorial Fund Balance Sheei 5 Februa 2025 5_2.25 Totsl funds 5.2.24 Total fund5 Unrtstricted Endowmeni nd Not¢5 CVRRENT ASSETS Debtors Inveslments Cath at bank 21K) 2.959.046 132639 21.167 2,630.284 13¥ 355 2.959.046 61.398 71.441 3.020.444 3,091.885 2.789.806 CREDITORS A[ltS falling due within one year (7285) {8,6361 {9.097) NET CURRENT ASSETS 64.156 3019093 3 083249 2 780 709 TOTAL A&SETS LFSS CURRENT LIABILITIES 64.156 3.019.093 3,083.249 2.7BO,709 NET ASSETS 64.156 3019 093 3.083.249 2 780 709 FUNDS unre¢1Cd fjjnds Endowmenr fjjnds 10 64.156 3 019093 047 TOTAL FUNDS 3 083 249 2 780 709 The financi atemtnts w¢r¢ apprtsv&J by the Board of TnLSte¢s and authorid for i55u¢ on and were SI*d its behalf by: The Mtes forni part of these fln111 thments Page 6
The Charles and Jane Allan M¢moTial Fund N les to the Financial Ststemenis for the Year Ended 5 Febtu 2025 ACCOUNTING POLICIES 1$ ofpreparing ile fimgnCi81 sthternents The fjnancial staternenls of ihe ¢hortly. which is a w17¢ benefit eniiiy utyler FRS 102. have been prepared in accordanc¢ wilh ihe Chariiies SORP (FRS 102} 'Accounting and Retrf>rting by CThariiies.' Si8iement of Recommended Prdctice appIlbI¢ 10 charities preparing their accounis in accordance wilh the Financial Reporting StaNlard applicabk in ihe UK and Rcpubli¢ of Ir¢laNJ IFRS 1021 leffeclive l January 2019),. Financial Reporting Standard 102 The Financial Reportitjg SthndaTd applicable in th¢ VK and Rcpublic of Ireland. a1 the Chariu¢s A¢1 2011. The financial stat¢m¢tyi$ Ikgve been prepared uThkr th¢ historical c051 convenliw. The presentati currency is p0dS #aling 1£). Intome All in¢ome is recognised in the Siatement of Fit4n¢ial Activilie5 once the charity has eniiilerncnt to the funds. il is probable that the irwn¢ will be received the amount can be measured Tdiabty. Expenditure Liabilities are rtcogniscd as expendinjre ag s(M)n as th¢re is a legal or cOn1¥t obli8ation comrniiting the charity to that expenditur< it is Pt(thbl¢ that a trdnsfer of cnOmiC benefits will be reguir¢d in srftlemeni and the amount of the obligAiiofj be measured reliably. Expenditute 15 accounted for w an accrua15 ba515 and has been cl&8sifi¢d under headings that a88regal¢ all $¢ ttlaled to the category. Wh¢rc ¢(6is cannot bc directly altriiw*d to particular helIng5 hav¢ been all(Kated to activities on a basis consistent with th¢ use of resource& Granis olTered subjeu to cormliti5 which have ncd been mtt ai the year end I18 are nOd as a commitrrtent bui ac¢nJ¢d as expcrxliture. Taxalion The charity is exempt from tax on its charitable l¥ll1C$_ 4crnunilng Unrtstricted funds b¢ used ij) &¢ordancc with the chgrwable obieuives ai the dIra10n of Ihe iTUSittS. Restricted funds Can onty used for particular restriered PUTTX)XS Within the objccts of the charity. Resiriciions arise when specified by the dot)orow when fimds are rais¢d forpArticulAr restricted putws¢s. Further explanation of the nawre and wr)Se ofeach filnd is Incl in ihe notes to the fin8n¢i81 ststements. Curreut •sse¢ Investme•ts Invesiments arc recorded in iht bala]e sheet ai markd value. Unrealised ¥ains and losses, due to malua¢ions, are reflected in the Suiemenl of Financial Activities as reed 88in&losses and realised 8ain5nos5e5. due to disTKys&l& are retlected as such in the Stafemenl of Finwial Aciivilies. INVESTMEKf INCOME 5.2.25 5.2.24 Deposit aecouni ini¢resi Income from li4ed inVee$ 3.709 4,876 62,253 57.3Crf) Page 7 onlinued...
The Charles and Jane Allan Memorial Fund Ole5 1 th Financial Sialenieni for ihe Ycdr Ended 5 Febru 202 RAISING FUNDS 5.2.25 5.2.24 Portfolio mana8ernent 14.451 GRANTS PAYABLE 5.2.25 5.2.24 Paym¢Dt to b¢txfi¢iaries 45.(KK) The tal grants paid to i[liU(lOn5 during the year was as follows.. 5.2.25 5.2.24 British Heart Foutmlalion Erskine Hospital Marie Cune Cancer Care Sight Scotlatld Veterans Royal Nari¢)nal Institute forthe Blind NHS Grampian Endowment Fund Northcote Lodge Trnsi Clan Cancer SLtpport North East Sensory Services 5,000 5,(100 5,IXIO 5,(M>O 5.(M)D 45.( TRUSTEES. REMUNERATION Af4D BENEFITS There were trustees. remunetatirn or (rfheT benefits foT the year ended 5 Febrnary 2025 nor fw th¢ year ended 5 February 2024. Tryste¢s' expeJJses There were no tswitts. eApeTrxs paid for the y¢aT ended S Felary 2025 rn)r for ihe year ended 5 February 2024. The charity neither remu[8 reimixjrses ihe Trusttts for any incidenthl expenses in¢urred in the dischar e of iheir duties. s a wnsulrani of Ledingham Chalmers LLP. Ledingham Chalmer5 LLP providcd adminiyrntive servicts to the T$[ thuing ihe year. with fees iothlled £9.0(M)12024- £6,571) for the year 5 Febnw 2025. Page 8 contjDued...
The Charles and Jan¢ Allan Memorial Fund otes lo the Financial Stal¢nitnls- continu for th¢ Year Ended 5 Februa 2025 COMPARATIVES FOR THE ATEMENT OF FINANCIAL ACTIVITIES Unr¢5tricted fund Endowrnfflt nd Total nd5 INCOME AND ENDOWMENTS FROM Invemeni irtome 447 EXPEf4DITVRE ON Raising fund5 13.5f 13.5fO Charitblt aetivitics Payment to beneflciarjes 45,} 45,(IX) Other T(Aal 54.186 13.sf 67,752 Net gaiftsl{losses) on inv¢sttnerts 79.053 79.053 NET INCOMEI(EXPENDITURE) Tr*nsfers bettveeD fndS {53.739) {35.7} 59 1851 (89SOS) Net movemeit In (94.951) (89J05) RECONCILIATION OF FUNDS T21 fvnds brought forward 79216 1790,998 2,870.214 TOTAL FUNDS CARRIED FORWARD 2.780 709 DEBTORS: AMOUNTS FALLING DIIE AFtER MORE THAN ONE YEAR 5.2.24 Other debtofs 21K) 21.167 CURRENT ASSET INVESTMENTS 5.2.25 5.2.24 Li&ed investhients 2 630 284 Analysi$ of movement of investmen Market value at the beginning of the year Add.. Additions to inyestment gt cost Le.. disposals al carying ¥ale Add1dedU net gainl(loss) cffi revaltsation 2.630.284 85.8(A) (67.9601 310862 Listed investments arE hdd to provide an Investme retyrn for th¢ TntsL P•ge 9 eontinua.-.
Page 9 continued...
The har Jone Allan MenN)rial Fund 10 the Financial Statem ror the Year End . 2025 CURRETr4T ASS£T INVEStMENTS- coMil•ed Listed investments outside the UK held at the year end had a rnarket volu¢ of £1,444.644 12024= £IJ28,755). All oiher invesim¢nts wilh a rnarket value of £1,514.402 (2024= £1,301.5291 were held within the UK. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.2.25 52.24 OtheT u¢ditors MOVEMENT IN FUNDS Nei mvemeni in fuT¥Js Tra[e[S beee funds At 5.2.25 Al 6.2.24 Uure5tri¢t¢d G¢n¢rAI fund (55280) J4.774 64.156 Endowment Endowment fi]nd 2.69A(47 357,820 (34.774) 3.Ol9,(V3 TOTAL FUNDS 278071 302340 3 083 249 Net movement in funts. Iluded in the above arc follows.. Incijrnins ResouT¢es ex Gains and 10sS¢5 Movernenl in funds Unresirl¢itd Gencral furb (56.124} 155,280) Endowment fund$ Endowment fund 61.41Y) (14,451) 310.862 357,820 TOTAL FUNDS 62.253 70.575 CMnparatlves for moyememt Ill fuD Net Transfers betwttn Ai 5.2.24 Ai 6.2.23 in fuThls Unr¢strlrted General fund 79216 (53.739) 59.185 84,662 ndowment fuTrd$ Endowment fund 2.7W).998 {35.766) (59.185) 2,696,047 TOTAL FUNDS 2 780 709 Page 10 eontints¢d...
Th¢ Charl¢s and Jane Allan Memorial FuThd tes to the Financial taiements- for the YeAr Ended 5 Fe tind 025 io. MOVEMENT IN FVNDS- wTrllued Comprative r1 movement in fuTKls. inchKled in rh¢ above e as follows: I]OMIng Gains and losses Mov¢m¢ni in fvnds Unre$tri¢¢ed ftytsds General furwj 447 (54,186) {53,739) EndowmeTrt fundi Endowment fvt 56,853 (13566) 179.053) (35.766) TOTAL FUNDS 67.752 790531 89.505) A currcnl year 12 months and prior year 12 (h5 combinul p)siiion is as follows.. Nd Transfers between fund5 movemeni in Ai 5.2.25 At 6.2.23 Unrestrkted fuAds General 79216 1109.019) 93.959 64.156 Endowment funds Endowment fvnd I7,998 322,054 193.959) 3,019.093 TOTAL FUPIDS 870.214 213035 3 083 249 A Current year 12 months and Prior year 12 mortths C(xnbi[ movement in fvnd& included in the above are as follows.. In¢oming Resourees expended Gains and losses Movcmcnt in fvnds Ullre51rlctEd fu•ds Gen¢ral fund 1291 (110.310) {109.019) Ed•wment lunds Endowmeni fijnd 118262 (28,017) 231.809 322.054 TOTAL FUNDS 119J53 138 231,809 213035 Pa8ell ¢ontinued...
e Charles and Jane Allan Meniorial Fund N t t the Financial nis- con for the Year Ended 5 Febnth 2025 ii. RELATED PARTY DISCLOSURES Tr were no related party tranlOn$ for the ym erthjj 5 February 2025. 12. FUNDS B(*h funds arose on ihe forniaiion of the T1. The endowmeni fuT¥J contains the investhient portfolio, th¢ obieci of which is 10 achieve regular incne for beneficiarie5 and capital growth 10 ensure continuity of the Trn. The unre5trKicd rrvcnue fun(& are managed subject kn the unconm)Iled discretion of the TNste¢s. Page 12
Th¢ Charl¢s ind Jan¢ Allan Memorial F Statement f Financial A iivil for the Year Ended 5 Fe 025 5.2.25 S.2.24 INCOME AND ENDOWMENTS Invlment Ineome Dep)qii account inieTe5t In¢orn¢ from lisled investmen 3.709 4.876 TotAI In¢omln8 resourtes 62.253 57,300 EXPENDITURE Inveslmellt mN82ernenl Portfolio mana8ement 14.451 13 J66 Cbg4ritabl¢ #¢tfvltles Granis to instilulions 45.OlXI 45,000 Support Covtrn8nce tost$ Accountancy fees Adrninislrativ¢ legal Co$ 1.8(K) 2291 Tothl resources expended Net eXndIture befort nd losse5 18.3221 (10,4521 Rffillsed reeognised gains and 10ss¢S Realised gain&llossesl on fixed asset inVe51mcrts Net expenditure 5.652} 18.172) This page th)es rtot foTrn part of the Staory financial sratements Page 13