Dr Scorgie's Charitable Trust SCOTTISH CHARITY NO: SC042408 HMRC REF: CR62715 TRUST ACCOUNT FOR THE YEAR TO 5 APRIL 2025
INTRODUCTION
TRUST DEED Will be Doreen Cassels Scorgie dated 26 March 2012 and recorded in the Books of Council and Session on 8 December 2010.
aPB BENEFICIARIES The Salvation Army Registered Charity Number 214779 The British Red Cross Society ' Registered Charity Number 220949 Royal National Lifeboat Institution Charity No: 209603 The Scottish Society for the Prevention of Cruelty to Animals Registered Charity Number $C006467 Perthshire Abandoned Dogs Society Registered Charity Number $CO11033 ' The Cats Protection League Registered Charity Number 203644 The Peoples Dispensaryfor Sick Animals Registered Charity Number 208217 ; Tayside Cat Shelter Registered Charity Number $CO22252 Any other charitable organisations which the Trustees think fit, to include the promotion of Scottish culture and the Church of Scotland in Comrie. Annual income to be dividend at the Trustees’ discretion PROFESSIONAL investment Managers ADVISERS Rathbones George House 50 George Square Glasgow G2 LEH Telephone No: 0141 248 4311
Solicitors Messrs Irving Geddes WS Solicitors 25 West High Street Crieff Perthshire PH7 4AU Telephone No: 01764 653771,
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DR SCORGIE'S CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT
FOR THE YEAR 6 APRIL 2024 TO 5 APRIL 2025
Charity Name and Number
Dr Scorgie's Charitable Trust Scottish Charity Number $C042408 HMRC Reference Number CR62715
Principal Address
c/o Irving Geddes WS 25 West High Street Crieff PH7 4AU
Current Trustees
Governing Document
The Trust is an unincorporated Trust constituted by the Will of the late Doreen Cassels Scorgie, dated 26 March 2010 and recorded in the Books of Council and Session on 8 December 2010.
IIEDeed of Assumption and Conveyance Incorporating Resignatione202 2ppointeddated theas30th Trusteesof September as per the2016 termsand of thethe 6th October 2016 and recorded in the Books of Council and Session on the 10th October 2016.
Professional Advisers
Legal Advisers
Irving Geddes WS Solicitors 25 West High Street Crieff Perthshire PH7 4AU
Investment Managers Rathbones George House 50 George Square Glasgow G2 1EH
a Examiner Drummond Laurie CA Algo Business Centre Glenearn Road Perth PH2 ONJ
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DR SCORGIE'S CHARITABLE TRUST TRUSTEES' ANNUAL REPORT
FOR THE YEAR 6 APRIL 2024 TO 5 APRIL 2025
History and Objectives of the Trust
;
The Trust was established by the Will of the late Doreen Cassels Scorgie, dated 26 March 2010 and recorded in the Books of Copuncil and Session on 8 December 2010.
The terms of the Trust direct the Trustees to hold the residue of the Trust for the benefit of such charitable organisations as the Trustes in their sole discretion think fit.
The Trust was granted charitable status on 24 June 2011.
terms of the Deed of Assumption and Conveyance Incorporating Resignation dated the 30th of September 2016 and the 6th October 2016 and recorded in the Books of Council and Session on the 10th October 2016,
Recruitment and Appointment of Trustees
Trustees are assumed (and resign) with the consent of the existing Trustees, under Section 3 of the Trusts (Scotland) Act 1921 and Section 13 of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990.
Trustees Remuneration, Expenses and Transactions
:
No remuneration was paid to any of the charity's Trustees nor any person connected to the Trustees. No expenses were paid to the Trustees and no transactions were undertaken between the charity and any Trustee or any person connected to a Trustee.
Review of Financial Position and Activities During the Year
The value of the investment portfolio decreased by 33.36% from £1,308,101 to £871,720 and in light of the current economic situation the Trustees are satisfied with the financial position at the year end.
During the year, the Trust made donations totalling £222,804, The donations were made to Morrisons Academy, Crieff Community Trust, Logos, Creative Crieff, Strathearn Trust, Strathearn Building Bridges, Innerpeffray Library and Crieff & Strathearn Museum. The donations met with charity objectives because the Trustees have discretion as regards donations being made as long as the donations are made to other charities.
Investment Policy & Performance
The Trustees have instructed Rathbones to manage the Trust funds on a discretionary basis. The Trustees have advised that they are prepared to accept a medium level of risk and Rathbones are instructed to seek both capital and income growth.
Policy for Donations
The Trustees are guided by the wishes of the Settlor in determining donations (as indicated in the Trust Deed) and in the past year donations have been made to The Crieff at Christmas, Morrisons Academy, Crieff Community Trust, Richmond House, Creative Crieff and Crieff & Strathearn Museum. In considering the extent of donations to be made, the trustees donate a maximum total amount of the Trust's annual income receipts.
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DR SCORGIE'S CHARITABLE TRUST
TRUSTEES' ANNUAL REPORT
FOR THE YEAR 6 APRIL 2024 TO 5 APRIL 2025
Reserves Policy
The Trustees’ policy is to disburse the whole of the net income in donations and to utilise the free reserves in any years of deficit.
Deficit
There were no founds in deficit during the financial year.
Donated Facilities and Services
There were no donated facilities or services in this financial year.
Plans for the Future
The Trustees intend to continue making donations to various beneficiaries, retaining flexibility on the scale of donations and restricting these to available income.
Risk Management
The Trustees have considered the risks to which the charity is exposed. These relate in the main to investment management and have been ameliorated by the employment of an investment manager. Another risk to which the charity is exposed is fraud, However, the Trustees consider the low level of donations made by the charity reduces this risk. In addition, at least one of the Trustees will have some knowledge of any chosen charitable body to which a donation is made. The Trustees also protect against the risk of financial mismanagement by the appointment of Solicitors, who are bound by the Law Society of Scotland Solicitors’ Accounts Rules in relation to their client monies, to carry out the day to day administration of the Trust in compliance with regulations governing charities.
Approved by the Trustees and signed on their behalf by
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Trustee \
Date: 8 {to °
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independent examiner's report to the Trustees of
Dr. Scorgie's Charitable Trust
| report on the accounts of the charity for the year from 6 April 2024 to 5 April 2025 which are set out on pages 1to 9.
Respective responsibilities of trustees and examiner
The charity's Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's Trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulation does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. Basis of independent examiner's statement My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulation 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records, It also includes consideration of any unusual terms or disclosures in the accounts, and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do no provide all the evidence that would be required in an audit and consequently | do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In the course of my examination, no matter has come to my attention:-
1, which gives me reasonable cause to believe that in any material respect the requirements: “to keep accounting records in accordance with Section 44{1}(a} of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
-to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
For and on behalf of Drummond Laurie Chartered Accountants Algo Business Centre Glenearn Road Perth PH2 ONJ Date:
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DR SCORGIE'S CHARITABLE TRUST TRUST ACCOUNT FOR THE YEAR 06 APRIL 2024 TO 05 APRIL 2025
STATEMENT OF FINANCIAL ACTIVITIES
| RECEIPTS | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Receiptsfrom investments | ||
| Dividends from UKCompanies | 10,720 | 14,395 |
| Interest Income from UK Securities | - | 1,491 |
| Overseas Income | 9,103 | 10,412 |
| Bank Interest | 2,192 | 246 |
| UnitTrust/OEIC Interest | 5,239 | 5,173 |
| 27,254 | 31,717 | |
| TOTALRECEIPTS | 27,254 | 31,717 |
TOTAL RECEIPTS
| PAYMENTS | |||
|---|---|---|---|
| Grants and | Donations Relating Directly to Charitable Activities | ||
| Richmond House | - | 19,000 | |
| Crieff and Strathearn Museum | 10,000 | 750 | |
| Crieff at christmas | - | 2,500 | |
| Morrisons Academy | 1,000 | 500 | |
| CrieffCommunityTrust | 2,000 | 18,500 | |
| Strathearn Building Bridges | 4,000 | ||
| Creative crieff | 177,500 | 108,000 | |
| Innerpeffray Library | 22,304 | - | |
| Logos Centre Limited | 6,000 | - | |
| 222,804 | 149,250 | ||
| Governance costs | |||
| Messrs Irving Geddes, legal fees for previous year | |||
| per assessment by Law Accountant | 61,550 | 24,298 | |
| Law Accountant Assessment Fee - for previous year | 3,077 | 1,214 | |
| Independent Examiner -for previous year | $00 | 288 | |
| Investment management costs | 10,705 | 12,015 | |
| Other running costs | 14,362 | 16,214 | |
| 90,594 | 54,030 | ||
| TOTAL PAYMENTS | 313,398 | 203,280 | |
| Net gains/(losses) on investments | (29,366} | 59,981 | |
| SURPLUS/DEFICITFORYEAR | (315,510} | (111,582) |
All funds are unrestricted
No remuneration or expenses were paid to the trustees during the period under review
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DR SCORGIE'S CHARITABLE TRUST
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BALANCE SHEET AS AT 5TH APRIL 2025
Note 2025 2024
Fixed assets £ £
nvestments 4 871,720 1,308,101
Current assets
Cash at bank and in hand 184,717 23,783
Creditors: amounts falling due withing
one year 5 40,063 -
Net current assets 144,654 23,783
Total assets less current liabilities 1,016,374 1,331,984
Capital funds
Unrestricted funds 1,016,374 1,331,884
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All funds are unrestricted
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Approved by the Trustees and signed on their behalf by
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DR SCORGIE'S CHARITABLE TRUST
TRUST ACCOUNT FOR THE YEAR 06 APRIL 2024 TO 05 APRIL 2025 NOTES TO THE FINANCIAL STATEMENTS
1 Accounting policies
1.1 Accounting convention
The financial statements are prepared in sterling , which is the functional currency of the charity.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Incoming resources
investment income is included in the Account in the year in which it is received.
1.4 Resources expended
Expenditure is recognised in full in the year in which it is paid.
1.5 Fixed asset investments
- Investments quoted on a recognised stock exchange are vaiued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value.
2 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year
3 Employees
There were no employees during the year.
4 Fixed asset investments
| 4 | Fixed asset investments | ||
|---|---|---|---|
| Listed | |||
| investments | |||
| £ | |||
| Fair value | |||
| At 6 April 2024 | 1,308,101 | ||
| Additions | 222,363 | ||
| Realised Gain/{Loss) | 15,389 | ||
| Unrealised Gain/(Loss} | - | 44,755 | |
| Disposals | - | 629,378 | |
| At 5 April 2025 | 871,720 | ||
| 5 | Creditors: amounts falling due within one year | 2025 | |
| £ | |||
| Provision for Irving Geddes Fee | 37,584 | ||
| Provision for Drummond Laurie fee | 600 | ||
| Provision for Benchmark LawAccountant | 1,879 | ||
| 40,063 |
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DR SCORGIE'S CHARITABLE TRUST
TRUST ACCOUNT FOR THE YEAR 06 APRIL 2024 TO 05 APRIL 2025 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
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|---|---|---|---|---|---|---|---|---|---|
|7|Movement|in|Funds|Net|
|At|movement|At|
|06.04.2024|in|funds|05.04.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,331,884|(315,510)|1,016,374|
|TOTAL FUNDS|1,331,884|(315,510)|1,016,374|
|Net movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resouces|Movement|
|resources|expended|in|funds|
|&|£|£|
|Unrestricted|funds|
|General|fund|27,254|342,764|(315,510)|
|TOTAL FUNDS|27,254|342,764|(315,510}|
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