Company registration number SC380815
THE BOSWELL TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE BOSWELL TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | M J R D Knox - Chairman |
|---|---|
| Mrs M F B Eliott | |
| Mr P Kennerley | |
| Mrs C A Knox | |
| Ms G Watson | |
| Secretary | Mr P Kennerley |
| Charity number (Scotland) | SC041655 |
| Company number | SC380815 |
| Registered office | Auchendrane |
| By Ayr | |
| Ayr | |
| Ayrshire | |
| United Kingdom | |
| KA7 4TW | |
| Independent examiner | Stephen Wilkie B. Acc C.A. |
| Azets | |
| Ayr | |
| Ayrshire | |
| United Kingdom | |
| KA7 1EN |
THE BOSWELL TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
THE BOSWELL TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025
The trustees present their annual report and financial statements for the year ended 30 September 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the The Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting 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)".
Objectives and activities
The objectives of the charity are the advancement of literary arts and education through the promotion of the works of James Boswell and the advancement of heritage through the restoration and preservation of the James Boswell family aisle and mausoleum in Auchinleck churchyard.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the The Charity should undertake.
Volunteers
The charity benefits from the work of volunteers in many areas.
- 1 -
THE BOSWELL TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance
Charitable Activities
Boswell Book Festival
With our fifteenth festival, running from 9[th] to 11[th] May 2025 at Dumfries House, our aim, as ever, was to deliver an event of artistic excellence, diversity, inclusivity and originality in a rural location, exploring biography and memoir for all ages to both a live and an online audience.
Lighting up the stage about their lives were Rupert Everett, Dom Joly, Pam Ayres, and Wayne Sleep and Andrew O’Hagan with his keynote address, and at the Children’s Festival all ages enjoyed forest bathing and woodland walks with amazing folklorist Alison Galbraith, workshops on comic writing with Edward Ross and storytelling from acclaimed writer Vivian French. Our theme remains unique in the book festival calendar in an area that is not served by any other major literary festival.
We ran 65 events, an increase of 15% on last year, including writing workshops and a children’s festival engaging the interest of the local community from the outset through our outreach events in the local primary schools and a free Schools’ Day. We were determined to keep our festival ticket prices at a level that would allow local attendance, with the continuing cost of living crisis, with a local Auchinleck postcode discount for the children’s festival.
Once again, we were successful in staging events that relate to the Scottish experience or support Scottish authors and publishers such as artist Juano Diaz on overcoming his difficult Glasgow childhood, new memoirist Katie Goh, publisher of translated works Allan Cameron, and Claire Mitchell KC and Zoe Venditozzi calling for a public apology for Scotland’s witches. Our partnership event with The Cumnock Tryst demonstrated the life-changing power of great music through the newscaster John Suchet’s latest book on Beethoven.
After the success of the online festival talks since 2021, this year we once again live-streamed all main festival events allowing us to reach those who couldn’t physically make it to the festival as well as our growing audience who now follow us from further afield both nationally and internationally. It also allowed us to stream John Vaillant live from Canada with interviewer Cal Flyn onstage with both an online and a live audience.
Additionally tours of Dumfries House were run regularly throughout the weekend, furthering the cultural benefit of the festival and adding clear benefit to the local community and this year there were curated tours of Auchinleck House, the nearby ancestral home of James Boswell, and all tours sold out. Auchinleck House is rarely open to the public so there was a lot of interest from locals as well as from those who came from further afield.
Future Plans
The Boswell Book Festival will be held at Dumfries House in 2026 from 8[th] to 10[th] May. Once again, we are planning a stimulating and entertaining programme which was launched in March 2026. This will include a Schools’ Programme, and Family Festival. We remain committed to providing an online alternative so a selected number of events will be available to watch and enjoy on-line.
- 2 -
THE BOSWELL TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Financial review
Reserves Policy
The charity operates both a general and restricted fund.
The General fund is available for use at the discretion of the trustees in furtherance of the general objectives of the trust. At the year end, there was £81,171 (2024: £82,175) in the general reserves. At the year end, all restricted funds were utilised.
Each year the charity aims to raise funds to meet the costs of their activities during the year and also enough to meet contingencies in the coming year and to provide an element of own resources for matched funding. The Trustees aim to maintain reserves of around 30-35% of annual book festival income. The Trustees believe that the amount in reserves at the year end is appropriate in the circumstances.
Principal funding sources
Our main source of income for the period comprised donations from charitable foundations, individuals and business of £87,250 (2024: £57,500) and grants from Creative Scotland £27,500 (2024: £19,000) and East Ayrshire Council £15,000 (2024: £25,000). Ticket sales from the Boswell Book Festival increased to £50,635 (2024: £50,196) and other income, including gift aid, commission on book sales, friends, patrons, contributions towards admin and advertising income contributed to a further £7,223 (2024: £8,662). Bank interest received in the year amounted to £293 (2024: £nil).
The principal item of expenditure was the Boswell Book Festival, which cost £167,501 (2024: £149,763) and the Children's Book Festival which cost £14,555 (2024: £22,298).
The trustee's have assessed the major risks to which The Charity is exposed, and are satisfied that systems are in place to mitigate exposure to major risks.
Structure, governance and management
The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
M J R D Knox - Chairman Mrs M F B Eliott Mr P Kennerley Mrs C A Knox Ms G Watson Dr W Zachs (Resigned 14 March 2026)
The trustees look to appoint new trustees who are committed to the aims of the Trust, and ideally have an association with James Boswell, Auchinleck and its surrounding area or Scotland more generally. The charity aims to have a balance of skills and experience amongst individual trustees.
The trustees' report was approved by the Board of Trustees.
Mr P Kennerley Trustee
28 May 2026
- 3 -
THE BOSWELL TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOSWELL TRUST
I report to the trustees on my examination of the financial statements of The Boswell Trust (the The Charity) for the year ended 30 September 2025.
Responsibilities and basis of report
As the trustees of the The Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the The Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the The Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the The Charity as required by section 386 of the Companies Act 2006.
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Stephen Wilkie B. Acc C.A.
3 Wellington Square Ayr Ayrshire KA7 1EN
28 May 2026
- 4 -
THE BOSWELL TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Unrestricted Designated Restricted funds funds funds 2025 2025 2025 Notes £ £ £ Income from: Donations and legacies 2 20,000 39,750 70,000 Charitable activities 3 1,000 56,858 - Investments 4 293 - - Total income 21,293 96,608 70,000 Expenditure on: Charitable activities 5 5,318 167,501 16,086 Net incoming/(outgoing) resources before transfers 15,975 (70,893) 53,914 |
Total Unrestricted Designated Restricted funds funds funds 2025 2024 2024 2024 £ £ £ £ 129,750 10,000 17,000 74,500 57,858 2,439 56,419 - 293 - - - 187,901 12,439 73,419 74,500 188,905 5,892 149,763 23,661 (1,004) 6,547 (76,344) 50,839 |
Total 2024 £ 101,500 58,858 - 160,358 179,316 (18,958) |
|---|---|---|
- 5 -
THE BOSWELL TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Net incoming/(outgoing) resources before transfers Gross transfers between funds Net income/(expenditure) for the year/ Net movement in funds Fund balances at 1 October 2024 Fund balances at 30 September 2025 |
15,975 - 15,975 42,968 58,943 |
(70,893) 70,893 - - - |
53,914 (70,893) (16,979) 39,207 22,228 |
(1,004) - (1,004) 82,175 81,171 |
6,547 - 6,547 36,421 42,968 |
(76,344) 76,344 - - - |
50,839 (76,344) (25,505) 64,712 39,207 |
(18,958) - (18,958) 101,133 82,175 |
|---|---|---|---|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 6 -
THE BOSWELL TRUST
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
| Notes Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Income funds Restricted funds 13 Unrestricted funds |
2025 £ 1,000 81,628 82,628 (1,457) |
£ 81,171 22,228 58,943 81,171 |
2024 £ - 83,561 83,561 (1,386) |
£ 82,175 |
|---|---|---|---|---|
| 39,207 42,968 |
||||
| 82,175 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 28 May 2026
Mr P Kennerley Trustee
Company Registration No. SC380815
- 7 -
THE BOSWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 Accounting policies
Charity information
The charity is governed by its Memorandum and Articles of Association and constitutes a limited company, limited by guarantee as defined by Companies Act 2006 (Registered Number SC380815 (Scotland)). The charity is a registered charity number SC041655. The charity is registered with OSCR the Scottish Charity Regulator. The charity's registered office is Auchendrane, By Ayr, Ayrshire, KA7 4TW.
1.1 Accounting convention
The financial statements have been prepared in accordance with the The Charity's Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting 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)” (as amended for accounting periods commencing from 1 January 2016). The The Charity is a Public Benefit Entity as defined by FRS 102.
The The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the The Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.3 Incoming resources
Income is recognised when the The Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income is the amount derived from grants, donations, book sale commission and Book Festival ticket sales.
1.4 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is 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 costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1.5 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Improvements to property 20% on cost
- 8 -
THE BOSWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 Accounting policies
(Continued)
1.6 Taxation
The charity is exempt from corporation tax on its charitable activities.
- 9 -
THE BOSWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
2 Donations and legacies
| Unrestricted Designated Restricted funds funds funds 2025 2025 2025 £ £ £ Donations and gifts 20,000 39,750 27,500 Grants - - 42,500 20,000 39,750 70,000 Grants receivable for core activities Creative Scotland - - 27,500 East Ayrshire Council - - 15,000 - - 42,500 |
Total Unrestricted Designated Restricted funds funds funds 2025 2024 2024 2024 £ £ £ £ 87,250 10,000 17,000 30,500 42,500 - - 44,000 129,750 10,000 17,000 74,500 27,500 - - 19,000 15,000 - - 25,000 42,500 - - 44,000 |
Total 2024 £ 57,500 44,000 |
|---|---|---|
| 101,500 | ||
| 19,000 25,000 |
||
| 44,000 |
- 10 -
THE BOSWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
3 Charitable activities
| Charitable Income | Charitable Income | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Ticket sales | 50,635 | 50,196 |
| Commission on book | ||
| sales | 2,070 | 2,098 |
| Friends and patrons | 4,153 | 3,765 |
| Contribution towards | ||
| admin | - | 360 |
| Gift aid receivable | 1,000 | 2,439 |
| 57,858 | 58,858 | |
| Analysis by fund | ||
| Unrestricted funds | 1,000 | 2,439 |
| Designated funds | 56,858 | 56,419 |
| 57,858 | 58,858 |
4 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Interest receivable | 293 | - |
- 11 -
THE BOSWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
5 Charitable activities
| Charitable | Charitable | ||
|---|---|---|---|
| Expenditure | Expenditure | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Administrator's fee and other staff costs | 48,862 | 47,496 | |
| Facility and venue costs | 38,586 | 49,105 | |
| Speaker travel | 9,653 | 3,821 | |
| Speaker fees and expenses | 25,846 | 19,757 | |
| Design, production and publicity | 31,960 | 16,716 | |
| Architect and landscaping fees | 8,077 | 6,105 | |
| Advertising | 8,148 | 9,850 | |
| Commission on ticket sales | - | 1,366 | |
| Postage and stationery | 1,960 | 721 | |
| Bank charges | 244 | 136 | |
| Speaker hospitality and accommodation | 10,924 | 17,845 | |
| Insurance | 1,531 | 1,363 | |
| Sundries | 1,656 | 3,649 | |
| 187,447 | 177,930 | ||
| Share of governance costs (see note 6) | 1,458 | 1,386 | |
| 188,905 | 179,316 | ||
| Analysis by fund | |||
| Unrestricted funds | 5,318 | 5,892 | |
| Designated funds | 167,501 | 149,763 | |
| Restricted funds | 16,086 | 23,661 | |
| 188,905 | 179,316 | ||
| 6 | Support costs allocated to activities | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Governance costs | 1,458 | 1,386 |
- 12 -
THE BOSWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 7 Net movement in funds The net movement in funds is stated after charging/(crediting) fees payable: - for the independent examination of the charity's financial statements - for accountancy services |
2025 £ 729 729 1,458 |
2024 £ 693 693 |
|---|---|---|
| 1,386 |
8 Trustees
Caroline Knox received a payment of £20,000 (2024: £20,000) in the period for services to the Trust as an administrator. There were no trustees' remuneration or other benefits for the period ended 30 September 2025 nor for the year ended 30 September 2024.
Trustees expenses
There were no trustees expenses paid out in the period or in the prior year.
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Tangible fixed assets
| 10 | Tangible fixed assets | ||
|---|---|---|---|
| Improvements to property | |||
| £ | |||
| Cost | |||
| At 1 October 2024 | 5,040 | ||
| At 30 September 2025 | 5,040 | ||
| Depreciation and impairment | |||
| At 1 October 2024 | 5,040 | ||
| At 30 September 2025 | 5,040 | ||
| Carrying amount | |||
| At 30 September 2025 | - | ||
| At 30 September 2024 | - | ||
| 11 | Debtors | ||
| 2025 | 2024 | ||
| Amounts falling due within one year: | £ | £ | |
| Trade debtors | 1,000 | - |
- 13 -
THE BOSWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
12 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Accruals and deferred income | 1,457 | 1,386 |
13 Restricted funds
| At 1 October | Incoming | Resources | Transfers | At 30 | |
|---|---|---|---|---|---|
| 2024 | resources | expended | September | ||
| 2025 | |||||
| £ | £ | £ | £ | £ | |
| Children's Book Festival | - | 7,500 | (14,555) | 7,055 | - |
| Churchyard & Mausoleum | - | - | (1,531) | 1,531 | - |
| Boswell Book Festival | 39,207 | 62,500 | - | (79,479) | 22,228 |
| 39,207 | 70,000 | (16,086) | (70,893) | 22,228 | |
| Previous year: | At 1 October | Incoming | Resources | Transfers | At 30 |
| 2023 | resources | expended | September | ||
| 2024 | |||||
| £ | £ | £ | £ | £ | |
| Children's Book Festival | - | 22,500 | (22,298) | (202) | - |
| Churchyard & Mausoleum | - | - | (1,363) | 1,363 | - |
| Boswell Book Festival | 64,712 | 52,000 | - | (77,505) | 39,207 |
| 64,712 | 74,500 | (23,661) | (76,344) | 39,207 |
A transfer from restricted funds to designated funds was made to compensate for charitable spending in excess of designated fund availability.
- 14 -
THE BOSWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
14 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 General Designated funds - Boswell Book Festival Previous year: At 1 General funds Designated funds - Boswell Book Festival |
October 2024 Incoming resources Resources expended Transfers At 30 September 2025 £ £ £ £ £ 42,968 21,293 (5,318) - 58,943 - 96,608 (167,501) 70,893 - 42,968 117,901 (172,819) 70,893 58,943 October 2023 Incoming resources Resources expended Transfers At 30 September 2024 £ £ £ £ £ 36,421 12,439 (5,892) - 42,968 - 73,419 (149,763) 76,344 - 36,421 85,858 (155,655) 76,344 42,968 |
|---|---|
15 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
- 15 -