THE MISSE5 ROBINSON CHARITABLE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SCOThISH CHARITY NUMBER: SC043713

THE MISSES ROBINSON CHARITABLE TRUST
CONTENTS
Page
Trustees, report
Independent auditor's report to the trustees
Statement of financial activities
Balance sheet
Notes to the financial statements
io

THE MISSES ROBINSON CHARITABLE TRUST
TRUSTEES, REPORT
For the year ended 31 March 2025
Introduction
The Trustees present their report and the financial statements of the Trust for the year ended 31
March 2025. The financial statements have been prepa", ed in accordance with the accounting policies
set out in note I to the financial statements and comply with the Trust Deed, the Charities and Trustee
Investment (Scotlandl Act 2005,. the Charities Accounts IScotl3ndl Regulations 2006 las amended) and
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their financial statements in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FR5 1021 published in October 2019.
Objectives. activities and grant-making policy
The Trustees hold the funds for the purposes specified in the Trust Deed. namely that they should be
applied for such charitable purposes only within the United Kingdom as are within the meaning
assigned to the term "charitable purposes" under s7 of the Charities and Trustee Investment
(Scotlandl Act 2005 and which are also regarded a5 a charitable purpose in relation to the application
of the Taxes Acts.
Although the Trust's charitable objectives are drawn in wide term5 in the Trust Deed, in practice I he
Trustees have had regard to the specific grant-giving criteria which were applied by the
hen they were alive subject to a degree of updating from time to time. As such the Trustees
do noi invite applications from other organisations but make grants on the basis of their own
knowledge and experience.
The Trustees have the power to apply the capital and income of the Trust's funds towards these
purposes to such an extent a5 they may from time-to-time think fit and, in so far as any such income
is not so utilised in any one year, it may at the Trustees. discretion either be retained by them and
expended in the following year or year5 for the Trust's purposes or added to the capital of the Trust's
funds.
Achievements and performance
Ouring the year the Trustees agreed to make grants to 1212024.. 131 charities totalling £99,500 (2024..
£ 110,0001,. details of the recipient5 are shown in note 4 to the f inancial statements. All these grants
were paid out during the year and there were no grants or commitments outstanding at the year end.
Financial review
The results for the year are set out in the Statement of Financial Activities on page 8. The total income
received by the Trust during the year amounted to £119,82312024'. E118,1761. With expenditure of
£110,12812024.. £132,834), there was net income before gains and losses on investments of £9,695
12024.. net expenditure of £14,6S81 Net losses on investment5 for the year amounted to £26.154
12024.. gains of £128,077). resulting in net expenditure for the year of £16,45912024'. net income of
E113,419}.

THE MISSES ROBIN50N CHARITABLE TRUST
TRUSTEES, REPORT
For the year ended 31 March 2025
Financial review (continued)
All funds held by the Trust are unrestricted. The value of these funds held as at 31 March 2025
amounted to £3,765,18712024: £3,781,646). The Trust's free reserves, defined 35 those unrestricted
reserve5 not tied up in fixed assets, was £223.28412024.. £157,177). The Trustees are satisfied th3t
adequate funds were available at the year end to continue to fulfil the charitable objectives of the
Trust.
Investment policy and performance
The annu31 income Eenerated from the Trust's funds provides the means whereby the Trust is able to
fulfil its purposes- the investment objective of the Trustees is thef efore to achieve a balance between
capital and income growth The Fund is invested in a range of good quality equity investments,
including managed funds. to provide a spread of geographical and sector risk, along with a proportion
in f ixed interest stocks.
The Trustees have delegated the management of the listed investments to professional firms who
report to Trustee5 on quarterly basis as to the performance of the portfolio. The investments were
managed by Rathbones until February 2024 and thereafter by
The Trustees have also
directed that the portfolio 5houlcl not be invested in companies generating greater than 25% ￿ their
income from tobacco, 3rm3ment5 or gambling.
Risk management
The pri nci pal risk faced by the Trust lies in the performance of its investments. The Trustees consider
variability of investment returns on the listed investment portfolio to constitute the charity's major
financial risk. This is mitigated by retaining expert investment managers and having a diversified
investment portfolio. In the current year. the Trustees directed the investment managers to manage
the funds with a balanced mandate between income and capital growth and observe the ethical
considerations noted above. Going forward. the mandate will be to achieve a total return of CPI + 2%
+ fees.
Reserves policy
The Trustees regard the investments as their funding base the purpose of which is to generate income.
They are also aware of the need to promote capital growth in order to secure the longer-term future
of the Trust. The investment income received by the Trust during the year amounted to £119.823
12024. £118,176) and £110,12812024.' £119.3241 was spent on charitable purposes.

THE MISSES ROBINSON CHARITABLE TRUST
TRUSTEES, REPORT
For the year ended 31 March 2025
Structure. governance and management
The Trust was formed in 2013 by Deed of Trust and received funds from two earlier charitable trusts
set up by the Misse5 Robinson. narnely Miss S E Robinson's Charitable Trust and Miss J H R Roblnson's
Charitable Trust.
The Trustees who served during the year are noted below The Trustees seek to maintain a balance of
relevant skills and experience within the trustee body. No changes are envisaged to the trustee body
at the present time but in the event of new trustees being appointed they would be provided with
copies of the Trust Deed, Minute5 and/or relative correspondence. recent financial statemerrts and
OSCR'S Guidance Appointments are not limited in time.
Reference and administration information
Scottish charity number
SC043713
Principal address
Caledonian Exchange
19A cann￿ng Street
Edinburgh
EH3 8HE
Trustees
Secretaries and legal advisors
Lindsays
Caledonian Exchange
19A Canning Street
Edinburgh
EH3 8HE
Auditors
MHA
6 St Colme Street
Edinburgh
EH3 6AD
Investment managers
Charles Stanley
2 Multrees Walk
St Andrews Squares
Edinburgh
EHI 3DQ

THE MISSES ROBINSON CHARITABLE TRUST
TRUSTEES, REPORT
For the year ended 31 March 2025
Statement of Trustees. Responsibilities
The Trustees are responsible for preparing the Trustees, Report 3nd the financial statements in
accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in Scotland requires the Trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the charity and of the
incoming resources and application of resources of the charity for that period. In preparing these
financial statement5, the Trustees are required to:
select suitable accounting policies and then apply them conslStently,-
observe the methods and principles of the Charity SORP 2019 IFRS 1021..
make iudgements and estimates that are reasonable and prudent,.
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements,.
prepare f inancial statements on a going concern basis unless It is ina ppropriate to presume
that the cha rity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and which enable it to ensure that the
financial statements comply with the Charities and TrLJStee Investment (Scotlandl Act 2005, the
Charities Accounts {5cotlandl Regulations 2006 las amendedl and the provisions of the Trust Deed.
They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps
for the prevention and detection of f raud and other irregularities.
Approved by the Trustees on 18 August 2025 and signed on their behalf bv..

Independent Auditorfs Report to the Trustees of The Misses Robinson Charitable Trust
Opinion
We have audited the financial statements of The Misses Robinson Charitable Trust (the 'charity'} for
the year ended 31 March 2025 which comprise the statement of financial activitie5, the balance sheet
and notes to the f inancial statements, including signif icant accounting policies. The f inancial reporting
framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard
applicoble in the UK ondRepublic of Ireland (United Kingdom Generally Accepted Accounting Prxticel.
In our opinion the financial statements=
give a true and fairview of the state of the charitrfs affairs as at 31 March 2025, and of its in￿ming
resources and application of resources, including its income and expenditure, for the yeJ then
ended
have been properly prepared in accordance with United Kingdom Generally Accepted AccI￿nting
Practice,- an
have been prepared in accordance with the requirements of the Charities and Trustee Investment
(Scotlandl Act 2(K15 and regulation 8 of the Charities Accounts (Scotlandl Regulations 2￿6.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing {UKI IISAS (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 U K, including the F Rc's Ethical Standard the provisions available for smal l entities.
in the circumstances set out in note 9, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is
suff icient 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, LAse 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 relatlng to
events or conditions that, individually or collectively. may cast significant doubt on the Trust's ability
to continue as a going concern for a period of at least twelve months from when the finlncial
statements are authorised for issue.
Our responsibilities and the responsibilities of theTrusteeswith respect to going concern are
described in the relevant sections of this report.
Other information
The other information comprises the information included in the Trustees, Report, other than the
financial statements and our auditor's report thereon. The Trustees are responsible for the other
information contained within the Trustees, Report. Our opinion on the financial statements does not
cover the other information and. except to the extent otherwise explicitly stated in our report, we do
not express any form of assurance conclusion thereon.

Independent Auditor's Report to the Trustees of The Misses Robinson Charitable Trust
Other information (continued)
Our responsibility IS to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the f inancial statements or our knowledge obtained in the
course of 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 thls gives
rise to a material misstatement in the f ina ncial statements themselves. 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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities
Accounts1Scotlandl Regulations 2006 requires 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; or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more ful IV in Statement of Trustees, Responsibil ities, the Trustees are responsi ble
or the
preparation of the financial statements and for being satisfied that they give a true arsd fair view, and
for such interna I control as the trustees determine is necessary to enable the preparation of f inancial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the fi nancial statements, the Trustees are responsible for assessing the charity's abil itv
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 cha rity or to
cease operations, or have no realistic a Iternative but to do so.
Auditor's responslbilities for the audit of the financlal statements
We have been appointed as auditor under section 44llllcl of the Charities and Trustee Investment
Iscotlandl Act 2005 and report in accordance with regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements a5 3 whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's ￿port
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 IUKI will always detect a material misstatement when
it exists. Misstatement5 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.
I rregularities, including f raud, 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 irregularitie5. i ncluding f raud.

Independent Auditor's Report to the Trustees of The Misses Robinson Charitable Trust
Auditor'5 responsibilities for the audit of the financial statements (continued}
The specific procedures for this engagement and the extent to which these are capable of detecting
irregularities, including fraud is detailed below..
Enquiry of management and those charged with governance around actual and potential
litigation and claims;
Enquiry of charity management and those charged with governance to identify any instances
of non-compliance with laws and regulations,.
Performing audit work over the risk of management override of controls, including thetesting
of journal entries arbd other adjustments for appropriateness, evaluating the rationale of
significant transactions outside the normal course of the charity's activities and reviewing
accounti ng estimates for bias,.
Reviewing minutes of meetings of those charged with governance;
Reviewi ng f inancial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation, This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be less likely to become aware
of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud
rather than error, as fraud involves intentional concealment. forgery, collusion, omission or
misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website
www.frc.or
auditorsres
onsiblities. This description forms part of our auditor's
report.
Use of our report
This report is made solely to the charity's trustees, a5 a body, in accordance with Regulation 10 of the
Charities Accounts (Scotlandl Regulations 2006. Our audit work has been undertaken so that we
might state to the charity's trustees those matters we are required to state to them in an auditor's
report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone otherthan the charity and the charity's trustees as a body, for ourauditwork,
for this report, or for the opinions we have formed.
MH4
MHA
Statutory Auditors
6 St Colme Street
Edinburgh EH3 6AD
18 August 2025
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and
Wales (registered number OC4555421.
Eligible to act a5 an auditor in terms of Section 1212 of the Componies Act 2006.

THE MISSES ROBINSON CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 March 2025
Notes
Unrestricted Unrestricted
2025
2024
Income from..
I nvestments
119,823
IIB,176
Expenditure on:
Raising funds
Charitable activities
1.050
109,078
13,510
119,324
Total expenditure
110,128
132,834
Net income/{expenditure) before gains and losses on
investments
9.695
(14,6581
Net Ilosses)/gains on investments
126,1541
128,077
Net lexpenditure}/income and net movement in funds
116,4591
113,419
Reconciliation of funds
Total funds brought forward
3,781,646
3,668,227
Total f unds carried forward
3,765,187
3,781.646
All income and expenditure derive from continuing activities.
The notes on pages 10 to 14 form part of these financial statements.

THE MISSES ROBINSON CHARITABLE TRUST
BALANCE SHEET
For the year ended 31 March 2025
Notes
31 March
2025
31 March
2024
Fixed assets
Investments
3,541,903
3,624,469
Current a55ets
Accrued income
Cash held by Lindsays
Cash held by Charles Stanlev
10,575
105,890
113,538
11,066
106,293
60,842
230,003
178,201
Creditors: amounts falling due within one year
Accruals
16,719)
121,0241
Net current assets
223,284
157,177
Net assets
3,765,187
3,781,646
Funds
U nrestricted funds
3,765,187
3,781,646
These financial statements were approved and authorised for issue on 18 August 2025 and are siined
n hph If nf thg TriiEtpoE

THE MISSES ROBINSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
Accounting policies
The signif icant accounting policies applied in the preparation of these financial statements
are set out below. These policies have been consistently applied to all years presented
unless otherwise stated.
la) General information and basis of preparation
The Misses Robinson Charitable Trust is an unincorporated charitable trust. registered in
Scotland, Scottish Charity Number SC043713. The address of the registered office is 19A
Canning Street, Edinburgh, EH3 8HE.
The financial statements are prepared on a going concern basis under the historical cost
convention, modified to include certain items at fair value. The financial statements are
presented in sterling which is the functional currency of the charity and rounded to the
nearest £.
The Trust meets the definition of a public benefit entity under FRS 102.
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities= Statement of Recommended Practice applicable to charities preparing their
f inancial statements in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland issued in October 2019. the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities and
Trustee Investment (Scotlandl Act 2005. the Charities Accounts {Scotlandl Regulation 2006
las amended) and UK Generally Accepted Accounting Practice.
(b) Going concern
The financial statements have been prepared on a going concern basis as the Trustees
believe that no material uncertainties exist. The Trustees have considered performance and
financial posltion of the Trust and the level of f unds held and the expected level of income
and expenditure for 12 months from authorising these financial statements. The expected
income and expenditure is suff icient with the level of resenles for the Trust to be able to
continue as a going concern.
Income
All income is recognised once the Trust has entitlement to the income. it is probable that
the income will be received and the amount of income can be measured reliably.
Income from investments is included in the year in which it is receivable and when the
amount can be measured reliably. Interest on funds held on deposit is included when
receivable,. this is normally upon notification of the interest paid or payable by the Bank.
Dividends are recognised once the dividends have been declared and notification has been
received of the dividend due.
io

THE MISSES ROBINSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
Accounting policie5 (continued)
{d) Expenditure
Expenditure is recognised once there is a legal or constructive obligation committing the
Trust to that expenditure, it is probable that settlement will be required and the amount of
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. The Trust
Is not registered for VA T, therefore expenditure includes irrecoverable VAT.
Expenditure on raising funds includes costs associated with generating income from the
Trust through its investment portfolio.
Charitable expenditure comprises those costs incurred by the Trust in the delivery of its
grant making activities. It includes both costs which can be allocated directly to such
activities and those costs of an indirect nature necessary to support them.
Expenditure on grants is recorded once the Trust has made an unconditional commitment
to pay the grant and this is communicated to the beneficiary or the grant has been paid,
whichever is the earlier.
Support costs are allocated between governance costs and other support costs. Governance
Costs include these costs associated with meeting the constitutional and statutory
requirements of the Trust and include the statutory audit fees and costs linked to strategic
management of the Trust. Other support costs relate to the admi nistrative costs of running
the Trust.
(e) Investments
Investments are a form of basic financial instrument and are initially recognised at their
transaction value and subsequently measured at their fair value as at the balance sheet date
using the closing quoted market price. The Statement of Financial Activities includes the net
gains and losses arising on revaluation and disposals throughout the year.
Reali5ed gains and losses on investments are calculated as the difference between sales
proceeds and their opening carrying value or their purchase value if acquired subsequent to
the first day of the financial year. Unrealised gains and losses are calculated as the
difference between the fair value at the year end and their carrying value. Realised and
unrealised investment gains and losses are combined in the Statement of Finantial
Activities.
The main form of financial risk faced by the Trust is that of volatility in equity markets and
investment markets due to wider economic conditions, the attitude of investors to
investment risk. a nd changes in sentiment concerning equities and withi n particular sectors
or sub sectors.
li

THE MISSES ROBINSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
Accounting policies (continued)
Debtors
Debtors are measured at their recoverable amount and included when reasonable certairstv
exists over their receipt. Prepayments are valued at the amount prepaid.
Ig) Cash at bank and in hand
Cash at bank and in hand includes cash and highly liquid short-term investments with a
maturity of three months or less from the date of acquisition or opening of the deposit or
Similar account.
(h) Creditors and provisions
Creditors and provisions are recognised where the Trust has a present obligation resulting
from a past event that will probably result in a transfer of funds to a third party and the
amount due to settle the obligatiorb can be measured or estimated reliably. Creditors and
provisions are normally recognised at their settlement amount due.
Financial instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as baslc
financial instruments. Basic financial instruments are initially recognised at transaction value
and subsequently measure at that settlement value.
Fund accounting
Unrestricted funds are those funds that can used in accordance with the objectives of the
Trust at the discretion of Trustees.
(k) Judgements in applying key sources of estimation uncertaintv
In the application of the Trust's accounting policies, the trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets and li3bllities
that are not readily apparent from other sources. The estimates and associated assumptions
are based on historica l experience and other f actors that are considered to be releva nt. Actual
results may differ from these estimates.
In the view of the Trustees, no critical accounting estimates or judgements have been made
in these financial statements.
Investment income
U nrestricted Unrestricted
2025
2024
Irscome from listed investments
Income from bank interest
115,570
4,253
112,857
5,319
119,823
118,176
12

THE MISSES ROBINSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
Expenditure on raising funds
Unrestricted Unrestricted
2025
2024
Investment management fees
1,050
13.510
Charitable activities
Unrestricted Unrestricted
2025
2024
Donations made
ACE IT
Edinburgh Cyrenians
Jamie's Farm
Leuchie
Mission Aviation Fellowship UK
Music at Paxton
Nith Catchment Fishery Trust
Papyrus UK
RSABI
Scotland's Charity Air Ambulance
Scottish Ref ugee Council
The HALO Trust
The Scottish Bible Society
WaterAid
7,500
10,000
7,000
15.000
5,000
10,000
7,000
2,000
7,000
10,000
7,500
7,500
7,500
7,500
12,000
7,500
10,000
5,000
7,500
10,000
15,000
7,000
,000
5,000
10,000
Total direct charitable expenditure
99,500
iio,000
Support costs
Secretarial, legal and administration costs
Governance costs
3,188
6,390
3,300
6,024
Total support costs
9,578
9,324
Total charitable expenditure
109,078
119,324
Governance costs comprise
Audit fees
6,390
6,024
6,390
6,024
13

THE MISSES ROBINSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
Trustees, remuneration and expenses
The Trust has no employees. No Trustee received any remuneration in either the cUr￿nt or
prior year. No Trustee received any reimbursement of travel expenses in the current year
12024.. £nill.
Investments
2025
2024
Market value
At l April
Additions at cost
Disposal proceeds
ILossesl/gains on revaluation
3,624.469
285.413
(341,8251
126,1541
3,524.184
306,726
1334,5181
128,077
At 31 March
3,541.903
3,624,469
Historic cost
2,625,626
2,523,159
The following investments comprise more than 5% of listed investments:
Allianz Technology Trust plc 25p ord sha res
185.765
Polar Capital Technology 25p ord shares
188.313
184,175
196,500
Movement in funds
Gain51
Ilossesl At 31 March
At l April
Income
Expenditure
202412S
Unrestricted
3,781,646
119.823
1110,1281
126,1541
3,765,187
2023124
Unrestricted
3,668,227
118.176
1132,8341
128,077
3,781,646
Related party transactions
During the year, a donation of f 7 50012024.. £7,000) was paid to Nith Catchment Fishery Trust,
a charity in which trustee,
Is 3 director.
Non audit services
In common with many other charities of our size. we use our auditors to assist with the
preparation of the fi nancial statements.
14