Blackadders
WALTER CRAIG CHARITABLE TRUST
Account for the year to 30 June 2025.
Scottish Charity No. SC041311
10 Euclid Crescent Dundee DD11AG
Tel: 01382 229222
THE WALTER CRAIG CHARITABLE TRUST
~~Report of the Trustees for the year to 30 June 2025.~~
~~Structure Governance and Management~~
Legal & Administrative Arrangements
The Trustees present their report and accounts for the year to 30 June 2025. This report is prepared in accordance with the Trust Deed of the charity and the recommendations of the Statement of Recommended Practice and Accounting and Reporting by Charities and complies with applicable law.
The Charity is a Trust established by a Trust Deed.
The Trustees for the period of this account and subsequently are as stated on page 2. The Trustees were appointed as a consequence of the Trust Deed and subsequent Deeds of Assumption.
There are no restrictions on the way the body may operate, save that the Trustees must implement the objectives of the Trust. No trustees received any remuneration or expenses during the period of this account.
The Trustees consider the Board of Trustees to comprise the key management personnel of the charity in charge of directing and controlling the charity on a day to day basis.
Appointment of Trustees
Trustees are nominated by the then existing Trustees and their appointment confirmed by a formal Deed of Assumption.
Trustee induction and training
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, 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. Organisation The Trust is administered under the supervision of the Trustees who meet regularly. The Trustees agree the broad strategy and areas of activity for the Trust, including consideration of grant making, investment, reserves and risk management policies and performance and receive reports from the solicitors in connection with the recent activities of the Trust. Day to day administration is carried out by the Trust's solicitors.
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. The stock market risk is mitigated by retaining expert Investment Managers and having a diversified investment portfolio.
The Trustees are kept up to date by the Investment Managers regarding the value of the Investment Portfolio and the possible effect on future income. The Trustees are confident that their medium to long term investment strategy will prove appropriate over the coming years.
Connected Bodies
There are no bodies connected to the Trust.
~~Objectives and Activities~~
The objectives of the Trust are to assist those beneficiaries as detailed on page 2 by the payment of grants, provision of services or equipment and by assisting organisations with similar objectives.
Strategy
The Trustees have pursued their strategy of making donations to locally based charities and individuals to an extent which absorbs as nearly as is practicable the whole incoming resources and continued their practice of receiving and considering reports from the Investment Managers on the position of the Trust’s portfolio of investments.
Achievements and Performance
The Trust's assets generated investment income in the period amounting to £50,789.18 (2024 ~~-~~ £76,043.17). The Trustees made or committed to pay grants amounting to £97,794.50 (2024 ~~-~~ £58,750.00). The overall value of unrestricted funds at 30 June 2025 was £3,401,342.88 (2024 ~~-~~ £3,396,414.57).
Future Strategy
No changes are at present envisaged in the Trust’s policies as outlined above.
Page 3
THE WALTER CRAIG CHARITABLE TRUST
~~Report of the Trustees for the year to 30 June 2025 (cont'd)~~
Financial Review
Financial Results
The results are shown in the attached Statement of Financial Activities and Balance Sheet. The advice of Blackadders Wealth Management, Dundee has been taken throughout the year on investments. It was noted that the value of investments was £3,351,838 (2024 ~~-~~ £3,216,732). There was a deficit of £108,531.85 for the year before investment movements (2024 ~~-~~ deficit £45,138.58).
The Charity’s Accounts are set out so as to comply with the Accounting and Reporting by Charities SORP FRS 102 effective 1 January 2019.
Funding Sources
The main source of funding in this accounting period came from dividends and interest on investments held.
During the year, A J Bell Nominees Ltd was responsible for custody of stock and to provide collection and other services. Blackadders Wealth Management LLP provide advice and portfolio management services.
Grant Making Policy
The Trust receives applications for assistance. These are considered by the Trustees and, if thought suitable, grants are awarded.
Reserves Policy
The reserves of the Trust originate from the Estate of the late Walter Craig together with the growth in the value of investments. The Trustees have adopted a reserves policy that ensures the continuing ability of the Trust to meet its objectives. Capital and Revenue balances are retained primarily to meet significant requests for financial assistance and stock market risks.
Auditor
The Auditor appointed for the current year is MMG Audit Limited. So far as each Trustee is concerned there is no relevant audit information of which the auditor is unaware. Each Trustee has taken the steps they ought to have taken as a Trustee to make themselves aware of any relevant audit information and to establish that the auditor is aware of the information.
Page 4
29/03/26 29/03/26
THE WALTER CRAIG CHARITABLE TRUST
~~Independent auditor's report to the Trustees of Walter Craig Charitable Trust~~
Opinion
We have audited the financial statements of Walter Craig Charitable Trust (the ‘charity’) for the period ended 30 June 2025 which comprise the statement of financial activities, the balance sheet 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 and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 30 June 2025 and of its income and expenditure for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
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 of 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 charitable company'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 Report of the Trustees, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Page 6
THE WALTER CRAIG CHARITABLE TRUST
~~Independent auditor's report to the Trustees of Walter Craig Charitable Trust (continued)~~
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities and Trustees Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
-
The information given in the financial statements is inconsistent in any material respect with the Trustees’ report; or
-
proper accounting records have not been kept, or
-
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 Statement of Trustees’ responsibilities the Trustees are responsible for the preparation of the financial statements and for being satisfied that they 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
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, are detailed below.
As part of our planning process:
-
We enquired of management the systems and controls the charity has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. Management informed us that there were no instances of known, suspected or alleged fraud;
-
We obtained an understanding of the legal and regulatory frameworks applicable to the charity. We determined that the following were most relevant: OSCR and Charities SORP and the ant ~~i-~~ bribery and corruption Act.
-
We considered the incentives and opportunities that exist in the charity, including the extent of management bias, which present a potential for irregularities and fraud to be perpetrated, and tailored our risk assessment accordingly; and
-
Using our knowledge of the charity, together with the discussions held with management at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.
Page 7
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30/03/26
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29/03/26
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THE WALTER CRAIG CHARITABLE TRUST
Notes to the Accounts
- Accounting policies
The following accounting policies have been applied in dealing with items which are considered material in relation to the Trust’s accounts.
Basis of Preparation
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 financial report, 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) effective 1 January 2019 and comply with 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 accounts are prepared in sterling, which is the functional currency of the charity.
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income
Income comprises income from investments and deposits 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 expenditure 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.
Investment Policy
Investments are included at fair value. Realised gains and losses, representing the difference between sale proceeds and opening fair value are dealt with in the Statement of Financial Activities. Unrealised gains and losses, representing the movement in the fair 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 amount.
Grants
Grants comprise those paid in the accounting period and when applicable include grants payable in future periods where there exists a legal obligation to make such payments.
Funds
With the adoption of the SORP, all income and expenditure is dealt with through the Statement of Financial Activities, funds are now classified as either restricted or unrestricted. All funds held by the trust are unrestricted and are available for use at the discretion of the Trustees in furtherance of the general aims of the charity.
Page 11
THE WALTER CRAIG CHARITABLE TRUST
Notes to the Accounts
]. Accounting policies (contd)
Taxation
The Walter Craig Charitable Trust is recognised as a charity for the purposes of applicable taxation legislation and is not, therefore, subject to taxation on its charitable activities. The charity is not registered for VAT and resources expended therefore include irrecoverable input VAT.
Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash and cash held in a deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount.
Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transactions value and subsequently measured at their settlement value.
Critical account estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are revised on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised where the revision affects on that period, or in the period of the revision and future periods where the revision affects both the current and future periods.
In preparing these accounts, the trustees have made the following judgements:
Depreciation
Tangible fixed assets are depreciated over a period to reflect their estimated useful life. The applicability of the assumed lives is reviewed annually, taking into account factors such as physical condition, maintenance and obsolescence.
Accruals
Accruals are applied at the year end based upon financial costs incurred post year end and the experience of the trustees.
Page 12
THE WALTER CRAIG CHARITABLE TRUST
Notes to the Accounts
- Charitable Activities The charity did not undertake any activity directly but met its charitable purposes by making Grants. Grants for Trust purposes included in the accounts to 30 June 2025 were as follows:
| ~~2025~~ | ~~2024~~ | ||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6th/8th | Dundee | Boys | Brigade | £ | 2,000.00 | €£ | 2,000.00 | ||||||||||||||||||||||||||||||||||||||||||
| Aberlour | (ACCT | H/O) | £ | ~~-~~ | £ | 2,250.00 | |||||||||||||||||||||||||||||||||||||||||||
| Aero | Space | Scientific Educational Trust (ASSET) | £ | ~~-~~ | £ | 2,000.00 | |||||||||||||||||||||||||||||||||||||||||||
| Asthma | Relief | £ | 1,500.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||||
| Bethany | Christian | Trust | £ | 2,000.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||||
| Brae | Riding | for | the | Disabled | £ | 2,000.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||
| British | Wireless | for | the Blind | £ | 2,294.50 | £ | 2,000.00 | ||||||||||||||||||||||||||||||||||||||||||
| Buglife | ~~-~~ | The | Invertebrate Conservation Trust | £ | 1,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||
| Chest | Heart | and | Stroke | Association Scotland | £ | 3,000.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||
| Circle | Scotland | CIC | £ | ~~-~~ | £ | 1,000.00 | |||||||||||||||||||||||||||||||||||||||||||
| Corbenic | Camphill | Community, | Dunkeld | £ | 5,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||
| Deaf | Links | £ | 1,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||||
| Dundee | Age | Concern | £ | ~~-~~ | £ | 2,000.00 | |||||||||||||||||||||||||||||||||||||||||||
| Dundee | Carer's | Centre | £ | 2,000.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||||
| Dundee | Heritage Trust | £ | ~~-~~ | £ | 4,000.00 | ||||||||||||||||||||||||||||||||||||||||||||
| Dundee | Sea | Cadets | £ | 2,500.00 | £ | 2,000.00 | |||||||||||||||||||||||||||||||||||||||||||
| Dundee | Therapy Garden | £ | 2,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||||
| Dundee | Youth | Music | Theatre | £ | ~~-~~ | £ | 2,000.00 | ||||||||||||||||||||||||||||||||||||||||||
| Edinburgh | Science | Foundation | (Generation Science) | £ | 1,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||
| Elder | Voice | (Strathmore | & | The Glens) | £ | 2,000.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||
| Euan's | Guide | £ | 2,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||||
| Faith | in | Community, | Dundee | £ | ~~-~~ | £ | 1,000.00 | ||||||||||||||||||||||||||||||||||||||||||
| Families | Firs~~t-~~St | Andrews | £ | 2,000.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||||
| For | the | Love | of | a Child | £ | ~~-~~ | £ | 2,000.00 | |||||||||||||||||||||||||||||||||||||||||
| For | the | love | of | a | child | £ | 1,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||
| Friends | of | Craigtoun | £ | 1,500.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||||
| Front | Lounge | Limited | £ | ~~-~~ | £ | 2,000.00 | |||||||||||||||||||||||||||||||||||||||||||
| Grey | Lodge | Settlement, | Dundee | £ | ~~-~~ | £ | 2,000.00 | ||||||||||||||||||||||||||||||||||||||||||
| Hearing | Dogs | for the | Deaf | £ | 2,000.00 | £ | 2,000.00 | ||||||||||||||||||||||||||||||||||||||||||
| Hearts | & | Minds | Ltd | £ | 1,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||
| Helm | Training | £ | 3,000.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||||
| Hot | Chocolate | Trust, | Dundee | £ | 1,500.00 | £ | 1,000.00 | ||||||||||||||||||||||||||||||||||||||||||
| Kinrossshire | Youth | Enterprise | £ | ~~-~~ | £ | 1,000.00 | |||||||||||||||||||||||||||||||||||||||||||
| Leisure | & | Culture | £ | 2,000.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||||
| Maggies | Dundee | £ | 2,500.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||||
| Maxwell | Community | Centre | £ | 2,000.00 | £ | 2,000.00 | |||||||||||||||||||||||||||||||||||||||||||
| Mid~~-L~~in | Day | Care, | Dundee | £ | 2,000.00 | £ | 2,000.00 | ||||||||||||||||||||||||||||||||||||||||||
| National | Youth | Choir | of | Scotland | for Dundee participants | £ | ~~-~~ | £ | 2,500.00 | ||||||||||||||||||||||||||||||||||||||||
| Nordoff | and | Robbins | Music | Therapy | £ | 2,000.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||
| Perth | Festival | of | the Arts | for | concerts and workshops | £ | 1,500.00 | £ | 1,000.00 | ||||||||||||||||||||||||||||||||||||||||
| Perthshire | Society | of | Natural | Science | £ | 1,500.00 | £ | ~~-~~ | |||||||||||||||||||||||||||||||||||||||||
| Princes | Trust | (Kings | Trust) | £ | 2,500.00 | £ | ~~-~~ | ||||||||||||||||||||||||||||||||||||||||||
| Remake | Scotland | £ | ~~-~~ | £ | 2,000.00 | ||||||||||||||||||||||||||||||||||||||||||||
| Ritual | Abuse | Network | Scotland, | Dundee | £ | ~~-~~ | £ | 1,000.00 | |||||||||||||||||||||||||||||||||||||||||
| Royal | Air | Force | Benevolent | Fund | £ | 1000.00 | €£ | 1,000.00 | |||||||||||||||||||||||||||||||||||||||||
| Royal | National | Lifeboat Institution | £ | 2,000.00 | £ | - | |||||||||||||||||||||||||||||||||||||||||||
| carriedforward | £ | 62,294.50 | £ | 41,750.00 |
Page 13
THE WALTER CRAIG CHARITABLE TRUST
Notes to the Accounts
2. Charitable Activities (continued)
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|brought|forward|£|62,294.50|£|41,750.00|
|Royal|Voluntary|Service|£|2,000.00|£|2,000.00|
|RSNO|Society|Limited|£|1,000.00|£|-|
|Salvation|Army|(SA|UKT)|£|2,500.00|£|-|
|Scottish|Charity|Air Ambulance|£|5,000.00|£|5,000.00|
|Scottish|Huntington’s|Association|£|3,000.00|£|-|
|Scottish|Mountain|Rescue|£|-|£|3,000.00|
|Scottish|Refugee|Council|£|1,000.00|£|-|
|Seamab|£|2,000.00|£|1,500.00|
|Shelter|Scotland|£|1000.00|£|1,000.00|
|Signpost|International|SCIO|£|1,000.00|£|-|
|Sistema|Scotland|£|2,000.00|£|-|
|SSAFA|Dundee|£|1,500.00|£|1,500.00|
|St|Andrews|Environmental|Network|Ltd|£|2,000.00|£|-|
|Strathmore|Community|Rugby|Trust|£|2,000.00|£|-|
|Tayport|Scout|Group|£|2,500.00|£|-|
|Tayside|Hospital|Broadcasting|Group|Bridge|FM|£|1,000.00|£|-|
|The|Butterfly|Trust|£|1,000.00|£|-|
|The|Friends|of|The|Caird|Hall|Organ|£|1,000.00|£|-|
|Tourettes|Scotland|£|-|£|2,000.00|
|Wave|102|Help|for|Kids|£|2,000.00|£|-|
|Others|-|£1,000|and|less|£|1,500.00|£|1,000.00|
|£|97,794.50|£|58,750.00|
|Add:|Support|Costs|per|note|4|£|38,610.00|£|43,104.00|
|£|136,404.50|£|101,854.00|
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Page 14
THE WALTER CRAIG CHARITABLE TRUST
Notes to the Accounts
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||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|3.|Cost|of|Raising|Funds|
|Investment|Management|Costs|£|22,916.53|£|19,327.75|
|4.|Support|Costs|
|Auditor/|Independent|Examiner's|remuneration|£|6,000.00|£|1,572.00|
|Management|Costs|£|32,610.00|£|41,532.00|
|£|38,610.00|£|43,104.00|
|5.|Investments|
|Fair|Value|at|30.06.2024|£|3,216,732.00|£|3,033,265.00|
|Additions|at|cost|£|364,760.46|£|2,393,395.80|
|£|3,581,492.46|£|5,426,660.80|
|Less:|Disposals|at|carrying|value|£|(337,070.00)|£|(2,645,325.79)|
|£|3,244,422.46|£|2,781,335.01|
|Unrealised|Gain|on|Revaluation|£|107,415.54|£|435,396.99|
|Fair|Value|at|30.06.2025|£|3,351,838.00|£|3,216,732.00|
|All|investments|held|are|UK|listed|securities|
|Investments|representing|more|than|5%|of|portfolio|Market|Value|Market|Value|
|30.06.2025|30.06.2024|
|Baillie|Gifford|Pacific|B|Nav|Acc|units|£|181,550.00|£|184,569.00|
|Blackrock|Continental|Euro|D|Income|units|£|158,791.00|£|169,253.00|
|Fundsmith|Equity|Fund|||Acc|units|£|180,995.00|£|185,148.00|
|Janus|Henderson|Global|Sustainable|Equity|£|217,214.00|£|207,795.00|
|JP|Morgan|American|Investment|Trust|ord|5p|shares|£|179,308.00|£|175,005.00|
|JP|Morgan|Global|Growth|&|Income|ord|5p|shares|£|213,288.00|£|225,777.00|
|Polar|Capital|Technology|ord|25p|shares|£|226,616.00|£|205,434.00|
|Royal|London|Sustainable|Leaders|C|Inc|units|£|213,656.00|£|198,842.00|
|6.|Sundry|Creditors|
|Donations;|
|£|-|£|-|
|Others|
|Due|to|Agents|£|17,609.82|£|31,103.82|
|£|17,609.82|£|31,103.82|
|7.|Trustees|Remuneration|&|Related|Party|Transactions|
|No|Trustee|received|remuneration|or|expenses|from|the|Charity|during|the|year|(2024|-|Nil).|The|Charity|
|has|no|employees.|
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Blackadders Trustees Ltd is a company wholly owned by the Partners of Blackadders LLP and Blackadders Wealth Management LLP who act as agents and investment managers respectively for the Trustees. Blackadders LLP received £26,130 (2024 ~~-~~ £33,280) plus VAT for management services and Blackadders Wealth Management LLP received £19,097.11 (2024 ~~-~~ £15,876.46) plus VAT for investment management services.
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