THE LEWIS-SHEILA RITCHIE TRUST (Charity No: SC044228) EPORT REND ARCH The Trustees present their Report and Accounts for the yeai ended 31. March 2025. The Accounts comply with the Trusl's constitution. the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scolland) Regulations 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Chaiities" issued in March 2005. ct Governan an me ManagLDt The Trust was established by a Trust Deed granted on 15° August 2013 and subsequently obtained charitable status. The Trustees who served during the year were.- The existing Truslees have authority to assume additional Trustees from time to time. Qbjectives Activi ie Advancement of health, Advancement of education, research and training, Advancement of religion., The saving of lives, The advancement of community development within the Grampian Area; and The provision of recreational facilities, or the organisation of recreational activities, with the object of improving the conditions of life for persons within the Grampian area. Achievements and Performance No grants were made during the year but the Trustees are accumulating funds with a view to making significant donations in coming years. in nc al The Charity had resources of £532,325.62 at close of the year, per the annual Accounts. This value Included inveslments at a base cost of £468.452.41 (The market value of the Investments as at 31 March 2025 was £4()1.(I11) SIGNED on behalf of the Trustees, and as aulhorised by them. zIIILIwi Trustee Date oscr OIrts￿ Chanty Reg&ator THE LEWIS-SHEILA RITCHIE TRUST SC044228 Receipts and payments accounts For thè poriod from 01 04 2024 31 03 2025 Section A Statement of receipts and payments Unrn8tnct8d funds R•slricl•d lund• Expondablo endowm•nt lund• Pomwn•ni •ndowmont lund• Total funds Gllfrent Perlod Total fund¥ la•t rlod to ll•iV•At t lo Mirn•t£ A1 Rocal ts OonatDns 94.151 94.1S1 446.504 Legaaes Grants Receipts frtrn lundraiiing 8Ctivrtig¥ Gross tradity reeaipts Income Irom Inve$imeni8 clner ihgn Ignd gnd buildingB Rents from land & trAJilding8 Groos receipt$ Irom other th8ritable aclivitiei 13,164 13,864 1,386 15 108,0IS A2 R¢celpt¥ from J•$o¢ & In¥•JtmDnt sil•A ProcaodB from Bale ol fixed as￿1• Proce•ds Irom b#lè of inv¢Jlmenl• .zazzz 28 31.197 Tot•1 r•c•ipts 108,043 108,043 479.066 A3 Paymen1• Expenges I￿ fundrwslng odivil*$ Gross Iradlng payments Investment rnanaGement cos1 Payrnènis r￿al￿n9 dncdy lo chorilob activities Grant8 and donation8 54 14 15,000 GovernAnc& eost8. 9,140 9,140 Auéil I Independenl examination Preparaknon ol •ftnual accounts Legal costs Othe A3 Sub loe41 9,194 9,194 16.014 A4 Paymgnl• rgljting to and Investment movements Puich8s6s oi fixed 8$S&tA •3,8J9 10.060 Purch88• 01 Inv•stmnls 10,060 395.1QO A4 Sikn tot•1 103,919 103,919 395.108 Toealpayments 113,113 113,113 410.122 15,0711 5.071 A6 Tr•n•f•r• to l (Irom) fvnd8 Surplus /(d•ficit) y•ar 5,071 5.071 68.944 SC044228 THE L EWIS￿￿tElLA RITCHIE TRUST Se¢liort B Siattrm•nl ol b•lan¢e? •1 ¢iih lund• (5,U71) (5.071 63,873 63,873. 811 Arwii 49 IJ c￿•r•I￿* T•iii •h APFENDLX2 THE LEWIS-SHEILA RITCHIE TRUST SC044228 Additional analysis11 } An•ly•i• 91 r•¢•ipts and p•ym•n¢• 1 Don#tlon* Unr••lrkthd Exptndabl• Perman￿1 Rmlwlclqd Yol•lcurMnl pgrlod Totsi l•it p•thd nth 292 292 91859 Tot 94.151 94,151 2 Orant• RaAlrbcl•d lund• lo n•w•*l£ None Tdthl 3 0*o•• ra￿lp￿ Irom oth¢r cha￿￿ts10 xllvltl•• unr•￿1*￿0 exp•n4•bi• •ndowm•ni lun•* P•rM*n•hi •ndo*m•nl A••id¢t•d lubvJ• Tol•l li•lp•rfod p•rlod to fi••I•￿t lo n•w••lC Non8 To¢Jl I P•ym•nts rd•lln9 dlr•¢tly to chirfjt•bl• a¢ttvlth•i Unv••ttst•d nd• eAwnd•bl• P•miw•n¢ Totyi Qufl•nl R••trlcl•d lund• Tot•1 I￿1 p￿d fvnd• fund# wr••r••i£ t•n•#r•*l ¢ Total OSCR Re¢dpts and PaYrrnnbAC￿nLs2O24.2S Led48323771.IWthIKMI notes{11 00¢￿be1200? APPENDIX 2 SC044228 Addltlonal analysls {2) 5 ￿￿4￿{19wn of unre¥triGl•d fund$ i= Tol nr￿￿et•￿ RBceiplJ ODn8iiDns 292 94•J1 441.804 Lo cies Granis Receip15 from lundrdlsl Gros8 Ir4L1in roceipis Incamfr tr￿ Inveitmenli olhar And bvilLlillg1 Ront$ Irom i¢no a Oulldings Gross raca6ils Irom Olhfir Ch8rilaDlo aeii%•tieJ Svb total adiyibgs 13.A6d 14.156 13.•64 108,0ID 1,365 447.J09 Proc89ds Iroffl SBlo olfixed b5¥91S Pro¢&orJ$ Irorn BO10 ol Inveolmwl• 31,197 Sub lol•l 28 To1￿￿¢*1￿¢S 14.18) 108.NJ 471.061 FipBn$es lorfundr•l¥iThJ •CtivllleJ Giuss IrBdifjs payimenls J4 14 Giènis and don8llen8 9,140 Audll I In08pe￿¢ffl eA8min811 Pr¢par•lW ol annvil •ccwiii$ S¥lj iol•l 9.114 15,014 P•ym•ntB r•iaiiry to u••t •thd In¥•iim•nt In0￿M•nti Purthtys¢s tsl fiiod •9#•18 Purch8se of Invs*ffentS •J,8$9 10.06 1•3,919 10.060 10,0 395.108 sub ltrt•l TotslyymMtA 10,114 410,122 4,069 5,•71 64.944 Tr•n•f•r• to Ilfrornl fund• Swpl¥• /fd•ft¢l¢J l•ry*•r 4069 S,•T1 68.W N•tur¢ •nd B• of lund• OSCR R•ethpts p•ymints L*rf4S32J771.1IAdJbw* DDt•sl2) OeGwiw 20D7 AppewDIx2 THE LEWI&SHEILA RITCHIE TRUST SC044228 Additional analysis {3} 6 8r•akdown of Y*￿n¢t0￿ fynd¥ Thgrg aré no restrlcted funds r￿1 t•ilil¢l•d fuTrJ6 R•c•*l• Grbnls Ruwpl# from lun¢Jr•lsin IncoTh* Irtsil Ih¥&iimertty Olhw Ih•n land ind lluiiaings R4nls from i*nd & bull¢Ji Gross receip15 Irorn Qlhercwiatylv Rec•lplll from a•8et& I￿V•s1MFlnI •alqs ProceeLls Ircth $8le ot rixed a$s*$ 5yb lot•1 rol•lrK•lpl• Payn*nl* EX￿￿8$ lor fvnlr•iwng 8Cbwb•S ojs Ir•dirvJ p•yff¢nl¥ Paymfrnis rel4iin9 Oif•uiy ￿ Chwllat488dlVrt•s Grants ano donBlion• Gov•mance e051s +•4Jdll I Ind•pon¢¢nt ¢xaThln•iion Pripar￿￿￿ c4 annuJl èccMI Sub lol•l P*ym•nl• i•l*iiNJ td ¥#•t ar#1 lTh¥••im•Tht mov•m•ni¥ Purchase3 olfi¥td Pvr¢h8se ol inveyimonls Tot•1paym￿l• Transfern to I Ilmml fund Surfu¥l(d•fi¢ltJ lor&w•r ow ol fvrKIo OSCR Aétypi$ and Piym8nuqA¢wn¥ xJ?44&L•(46323771.I￿éd￿￿naIno￿1(Jj Oè¢ernb•tXJ)7 Ind¢p¢Thd¢ttt ExNmln¢i¥ Rcport to th¢ Tru&t¢v ofTh¢ I￿￿19￿11£71￿ Ril¢hi¢ Ti'•Jl I rep)rt th¢ a&¢oiirnl¥ ofrh¥ Ghw'ily r()i" the y¢ur ¢n(l¢d 31. MaiKh, 2025 which ￿r¢ oiil on pil¥¢ l. RcJp¢cilve *i%i)oiislblllilts of Ir¥yiees Niid cxiiniffi￿trr The charity's irnsi¢es Ir¢ respoiisible for th¢ pr¢pHruliiin of die accoiii)Is in dccoixlance witli rl)e rem15 of Ihe Charities and l-I'iisio¢ Iiivcslmcnt IScotlaiid} Aci 200$ aiid tlie ch￿rIties Accounis Iscotlandl Regiilniioils 2W6. The chhrity Irvste£&S L0115idui' IhL lludil reqiiirLnicnl of the IlcLTriila(ion l O(1 I Idl of Ili¢ AcLouiils Rigullllions do¢9 not apply. li is Iny ￿YpO17￿1b¢1itY til ¢xi)Iniii¥ ilie ULLvi¢nl8 us i'wuiroil uiidcr %eLlioii 44(11 (cl ofilie Act nnd to slat¢ wli¢ili¢r porti¢iil#i' mallers IIAve coine TO my attention. B991s of InO¢'peiiil¢iil ex*mlnor $ 814t¢¥iio•t My #xainiNiliryi is ¢un'i¢d oul in ActyvrdiiTh¢¢ ivith Ileguloiion I l ot the Cliarities Accoviits {Scoi1411dl Ro¥ihliil>o115 2006. Ali ¢xamiiifjiitsii in¢lu(Iq5 a ievieiv ol. tl)e uccouiilillg r¢¢oi'd.% k¢'pl by Ilie ¢hfirity aii(l a oiiiparison ol. the accoun1.% pr¢%iiled with Ilinsc rccord5. ilenis oi. disclosiires in ihe io CCOLint% 4ond s¢ek.4 explanali0118 liY)In tl)e triiqtee.% ¢onceri)iri8 atly SllLh niatteis. 'I'lie woce(1111¢s iin(le11Hk¢n d(1 Ilul Pl'L)vidL IhL ¢VI(leiicL th￿1 wuuld ￿ iL(iuiJYd in llli ITriLdil, aiid Lni).%e(iiienily I do not CXPl￿ss nii &iidit opiiiioi) 011 tlie view 8iveii by Ili¢ n¢¢ouiits. Ind¢i>cM(lo*t ¢yiimln¢r $ 5t4t¢m¢n¢ lil ¢oiii's¢ of Iiiy ¢x4111inAiion, no mittcrlths cgine lo iiiy JllLiilic?n [dh•A￿¥t￿b•I8W ] wl)iLh giv#s In¢ r¢a&i)nNI)10 10 b¥lieve Iliai iii aiiy 17111t¢i'i41 rL'5PCCt Ilie reqiiiremtnis,, io k¢¢p a¢¢oiiii¢S11È i*corth iii Accordance willi s¢Cti￿1 44(1 I lal ol. th¢ 21x15 A¢1 iiid Regul&tioii 4 ol, th¢ 2006 Ac¢oiiiit¥ K¥BulolirJns. firikl iu W￿pAre iccouiils whi¢h I¢￿rd ivitli th¢ RCLOVliiillg IrLoi(Is aiiil G￿lI￿1Y willi R¢gulfiiioii 9 of tlie 2006 Ac¢oiiiils R¢uulAlions have rtot bmn n)ei, or lo wl)ich, in Iny w)iiiioJi, ¥ll¥iili(Ki.4110111¢l b¢ drHwTh iii vrd¢i' In eiiable a proper iii?dei'sl4ndipg of ac¢ounis lo b¢ r¢8¢h¢d. Diiic.. Wl IJ • Please d¢l¢tc Ihc words iii bill¢k￿$ ilil)¢y do noi ttpply. If the w¢)rds do apply sel out tliose Iiiatters wlii¢li hAv¢ ¢oine lo yoiii. attciilion. CulBi￿s￿￿Q￿￿ewPty￿fAvw￿I1MWl1*¢￿YK4IVEf￿￿￿47.(IJ0ty3 LQ*ISIIJTClnE PRCfESSORLebii$AIT¢M*. Lewis-MILA RIT¢Hie CWffP4LE THusnsGr4ÈD WDEPENDENf EXIMNEISHEpeRTIRITeHEK463J273&1l￿cx ## **THE LEWIS-SHEILA RITCHIE TRUST** ACCOUNT of CHARGE and DISCHARGE of the Intromissions of the Trustees per Messrs MacRoberts Solicitors, Glasgow From: 1st April 2024 To: 31st March 2025 |I
II
III
2024 Apr
5
2025 Mar
27
IV
2025 Feb
28|**£**
**CAPITAL CHARGE**
**ESTATE AT CLOSE OF LAST ACCOUNT**
Quilter Investors Limited QC Global Income & Growth
348,858 Global Income & Growth Fund GBP Dis Units
364,560.96
Cash
4,058.16
Morton Fraser MacRoberts LLP
Cash
Add
Balance due to capital
**ESTATE ALLOTTED**
None
**ADDITIONAL ASSETS GIFTED INTO TRUST**
Professor Sir Lewis Duthie Ritchie, OBE
Additional balance transferred by Quilter re Mrs S Ritchie's Estate
Gift of 30,035 Ordinary Shares in Polar Capital
Technology Trust -
**ESTATE REALISED**
Quilter Investors Limited QC Global Income & Growth
Equalisation
27.57
**SUM OF THE CAPITAL CHARGE**|**£**
368,619.12
64,885.98
433,505.10
13,642.16
291.63
93,859.37
27.57|**£**
447,147.26
--
94,151.00| |---|---|---|---| ||||£541,298.26| |I
II
2024 Apr
9
Jul
5
Oct
4
2025 Jan
7
2024 Dec
23
2024 Oct
30
III
2024 Dec
4
IV|**£**
**CAPITAL DISCHARGE**
**BALANCE DUE TO CAPITAL AT CLOSE OF LAST**
**ACCOUNT**
**EXPENSES OF ADMINISTRATION**
Quilter Cheviot
Management charge
4.85
VAT
0.97
Management charge
10.38
VAT
2.08
Management charge
15.28
VAT
3.06
Management charge
14.84
VAT
2.97
54.43
Proportion attributable to capital
Independent examination fee
320.00
Proportion attributable to capital
MFMac LLP
Business account (inc VAT £1,470)
8,820.00
Proportion attributable to capital
**ESTATE INVESTED**
Quilter Investors Limited QC Global Income & Growth
8,576 Global Income & Growth Fund GBP Dis Units
10,059.65
**ESTATE AT CLOSE OF THIS ACCOUNT**
Quilter Investors Limited QC Global Income & Growth
357,434 Global Income & Growth Fund GBP Dis Units
374,593.04
Polar Capital Technology Trust
30,035 Ordinary Shares
93,859.37
468,452.41
Cash
6,907.39
c/f|**£**
**£**
13,642.16
27.22
160.00
4,410.00
4,597.22
--
475,359.80
475,359.80
18,239.38| |---|---|---| |**£**
b/f
Morton Fraser MacRoberts LLP
Cash
56,703.12
Interest to 31.03.25 awaited
262.70
Less
Balance due to Revenue
**SUM OF THE CAPITAL DISCHARGE**|**£**
475,359.80
56,965.82
532,325.62
-9,266.74|**£**
18,239.38
523,058.88| |---|---|---| |||541,298.26| **£** **£** **£** ## **REVENUE CHARGE** ## I **BALANCE OF REVENUE AT CLOSE OF LAST ACCOUNT** Nil ## II **DIVIDENDS AND INTEREST COLLECTED** |2024 May
31
Aug
30
Nov
29
2025 Feb
28
2024 Jun
27
Sep
26
Dec
20
2025 Mar
27
2024 Jun
30
Sep
30
Dec
31|Quilter Investors Limited QC Global Income & Growth
348,858 Global Income & Growth Fund GBP Dis Units
Dividend
Dividend
Dividend
357,434 Global Income & Growth Fund GBP Dis Units
Dividend
Quilter Cheviot
Gross interest
Gross interest
Gross interest
Gross interest
HSBC per Morton Fraser MacRoberts LLP
Gross interest
Gross interest
Gross interest
Gross interest due to 31.03.25
**SUM OF THE REVENUE CHARGE**|3,812.32
2,948.55
3,046.58
2,535.23
12,342.68
58.46
94.06
99.05
49.86
301.43
12,644.11
343.98
324.63
288.53
262.70
1,219.84|13,863.95| |---|---|---|---| ||||£13,863.95| |I
2024 Apr
9
Jul
5
Oct
4
2025 Jan
7
2024 Dec
23
2024 Oct
30
III
III|**£**
**REVENUE DISCHARGE**
**EXPENSES OF ADMINISTRATION**
Quilter Cheviot
Management charge
4.85
VAT
0.97
Management charge
10.38
VAT
2.08
Management charge
15.28
VAT
3.06
Management charge
14.84
VAT
2.97
54.43
Proportion attributable to revenue
Independent examination fee
320.00
Proportion attributable to revenue
MFMac LLP
Business account (inc VAT £1,470)
8,820.00
Proportion attributable to revenue
**DONATIONS**
None
**BALANCE DUE TO REVENUE AT CLOSE OF THIS**
**ACCOUNT**
**SUM OF THE REVENUE DISCHARGE**|**£**
27.21
160.00
4,410.00|**£**
4,597.21
--
9,266.74| |---|---|---|---| ||||£13,863.95|