## **The Scottish Historical Review Trust** **Report and Unaudited Financial Statements For the year ended 31 December 2024** **Scottish Charity No – SC045296** **Companies House No - CS001668** ## **Henderson Black & Co** CHARTERED ACCOUNTANTS, ST ANDREWS ## **The Scottish Historical Review Trust** ## **Contents of the Report and Unaudited Financial Statements For the year ended 31 December 2024** **----- Start of picture text -----**
Pages
Trustees’ Report 1 – 3
Independent Examiner’s Report to the Trustees 4
Statement of Receipts and Payments 5
Statement of Balances 6
Notes to the Accounts 7
**----- End of picture text -----**
**The Scottish Historical Review Trust** ## **Trustees’ Annual Report** ## **For the year ended 31 December 2024** The trustees have pleasure in presenting their report together with the financial statements for the year ended 31 December 2024. ## **Reference and Administrative Information** **Charity name** The Scottish Historical Review Trust **Charity number** SC045296 **Companies House number** CS001668 ## **Contact Address** Flat 19, 1 Spring Gardens, Edinburgh, EH8 8HU ## **Current Trustees** The trustees serving throughout the year and to the date of this report were as follows: ## **Independent Examiner** ## **Bankers** Virgin Money ## **Structure, Governance and Management** ## **Constitution** The charity is a Scottish Charitable Incorporated Organisation (a SCIO). It was registered on 18 December 2014. The structure of the charity consists of the charity trustees who are also the charity’s only members and comprise the charity’s Board. The maximum number of charity trustees is twelve and the minimum number is eight. ## **Appointment of trustees** The Board are the charity’s trustees and they meet as required. Charity trusteeship is open to any person aged sixteen or over who is nominated by an unincorporated organisation or corporate body and who subscribes to the purposes of the charity and wishes to see them fulfilled. ## **Management** The trustees perform the day to day operation of the charity. 1 The Scottish Historical Review Trust Trust88s' Annual Report For th8 year ended 31 December 2024 Objectlves and Actlvltles Charltable purposes The ch￿ty,$ purposes are: The advancement of education. heritage and cullure. particularty the general advancement of tho knowl8dg& and stuoy of Scottish histLYy in all its branches. in parb"cular through tha publlcatlon of "T￿ Scottlsh HIs￿￿tal Rèv1•￿ and tho Undarta￿n9 of all actlvttlas conduclvo thèr•to, bLrt wlthout prèludlcè of thè 9&r￿alIty ol thè f¢xègolng:. 1. To undertako the preparnlion. and publlcaWon cl bc¢)ks. perlodlcals. pamphlets and other publicatic￿8 and of films. including without prejudice to the said alty, tm Pr•parat￿n and publicab.on of"TM scotb.stt HistorKal R•viW. To provld• for th• ddlv•ry of IKlwos. m•elngs, ￿lOrer￿•s. stLtray Ixllrtles and 51mllar actlvllth. The aroa of ￿neffit shall b& the UK arKI overseas arKI the charfty shall promote Its actlvltles to P80pI thln Its aru of ténèflt wtto ara thè ynwal pu￿￿e. Th•se p•W• vhll bo t￿ chanty's bon8flciarlés. Achl•v•m•nts, Monltorlng P•rforni•nc• and FU￿r• Plw ' toWn* conS￿nts and an ovw-¢C4nmltt•d convwK¢, thls ron•wal romalned pausod. Jènn Wormald Lodure." Th• 2024 J•nny Wormald L•ctur• was ddlwad by in Stlrflng. It was well-ieeèivèd b an In-pèrson and onllno aud6èn¢¢. The 2025 lecture iki ellvèrèd by . tt ￿tInUeS lo ￿ alolnt ond&•vwr oltr* Scottl8h ￿￿0¥41￿8￿, th• Scottl$h cottlsh Catl)ollc Hl$lorlul So¢l•ty. IstQry aoaety and the rrustees and Edltors.. Two trustees demnted.. treasurer. in Jul 2025. Threè new trus èes joine TK¥o trusteès ale èmi trustee. Upcoming vacancies will be filled a$ secretary, In Oct ?044 and convenor. and Ilcrs r•maln In place an ere were no c ' Thr80 Issu8S Pgr ortive Trust The edttors are stiii McthmlLatè reviews editor. oar Is workin wdl thanks to sènior editor our excollent odltodal toam and su & MÈdlÈvalEtthy Modem èditor. Sp¢ual Issuè$ editor. and ein or cont1rrf￿S to ovorsoe thls s8rles and Is con￿nU•S to bo sta￿• and tscklng has soen through to com akjng ￿th lfttle change ftom ￿ar to yoar. C*￿Ven015￿1 . r￿*in$ in F¢*tiryi ￿ the eonvw of the SHRT. Shè is scheduled to slan ooJn on er 25. She will have been the loTrJest-5erving twslee has agreed to be the ￿At convonor. She is a profess￿ at York. Secreta Treasurer" the treasurer fty 2024 but stotrj d¢Nn in Juty 2025 after whith over. The Scottish Historical Review Trust Trust88s' Annual Report For th8 year ended 31 December 2024 Bursarles.. Wè conunue to award bursades arml In 2024, ￿ awardgd ts¥o conferanca awards It￿￿lIng £1,2651 and flvè PG11nda￿rtd￿nt Bursary Awards Itc*￿11￿ £5,1971. Ourtotal dlsbursèn*nt was sèvan 4wards amountirvJ to £6.462. Building upon this. and to support Worr￿ research8rs and other schdars from marginalised groups to submit to SHR. ￿ launched a r)•w award for earty c4re8r researchers in ttt& autumn of 2024. Th8 award was madè In tho of 2025. and wè I￿1￿gaI advlce Ic0s￿ng £2.500+VATI to onsuro that we wore a¢tlThJ In a¢￿danc0 wth th¢ ur•Y*od l¢¥slatkn. Social Media Officer.. our social media in JanLW 20 our activ￿.￿. Pho st￿lent at Trinty Cdlege Du￿1n. assumed responsibility for 4 and continues in tlus role. She has been doing a great job publiasing Th• truste￿ monltr* f¢edba¢k ard th• rospor60s to all of tho xYvlVos •nd •bovo. Wg conllnue to h￿d thr•• m••tlngs p•r yw to •nsur• that w• can m￿￿90 all of adlvltlo$ and regpons1bi1￿8s. Flnanelal r•vl•w Thè principal sour¢• of IrKom• to th• ¢hwty Is frem tts Sh￿ of thè Incom• from publlc•tion of"Th• Scottl$h Hlstcrtal Rovlw. In th• yw to 31 Dtt•mb•r 2024 th1$ 1￿m• £21.605 {2023 - £16.9221. The trustoos alm to u￿1199 the annual Incm fnxn thg loumal Ilwh advltlos doscrlbod abovo and ar• Wea￿d to r•port that £24,001 12023 - £17.$841 was •xyn¢J8d on charRabl• actlvRl8s In t Y￿r. ROS•TVO5 poIIcy The trustees. 1$ to h￿d r￿OrY•S to m••t n¢Jrmol runnlrwJ costs and known Com￿11m•n￿ for thr•• to slx monlhs and also a balance for any major projects whlch may a￿88. At the yèar end cash r8serv8s amountad to £1S3.71712023- £154.5241. Cash of £85.000 was plac•d In an Int•r8st payln9 d8Wt In January 2023 wtth th& Inl¢rest rKeivod •nnu•lty. Al ￿tre ynr¢slrf¢t¥d. statement OlTruSt￿￿' Responslbllltl•# The trust8es aro responslble for keopln9 wopw accountlng records dlsdos8. ￿th roasonable accuracy at any tlmo. the flnanclal posltlon of the charty arKI enable Ihem to onsuro that tho flnanclal statèments. which they are responsitAè for prèparlng. comply wth thè Chartiles Accounts Iseotlandl Regulations 2006 las amÈndèdl and tènns of thè tharity's Constiiution. Thè aP￿lea￿• law also sets out the responsibilrties ol the trustees fcf the WeParati￿ •TrJ content of th? Annual Repryt. Approved by the trustees on 18 Sept&mb8f 2025 and slgnod on thglr behaw by.. The Scottish Historical Review Trust Independent Examiner's Report to the Trustees of The Scottish Historical Review Trust I rowt on tho acC￿Trts of charfjty for the yaar endod 31 D8tsmbw 2024 %th6ch ara sèt out on pagos 5 to7. Respective Responsibilities of the Trustees and Exwniner The charity's trustees are responsible for the preparation of the accounts in aCCord￿ce with the terms of Charrtiès and Trustee Invostmènt {Sco￿a￿l Act 200S llhe 2005 Acri and tho Charrti•s Accounts Iscotlandl R8gulatlons 2006 las amendadl lllhe 2OJ6 Regulatlons-l. Tha charty's trust$￿ consldor that è audlt mqulrèmènt ol Regula￿0Th 10111 Idl of thè 2006 Rwlauons doos not apply. It Is my responslblllty to èxaminè and rèw1 on thè accounts under so¢llon 44111 1¢) of tho 2005 A¢1 aThJ to $tsl¢ whether partlcular matter5 have come lo my attention. Thls report Is made to tho trust805. as a booy. in accordance the tornis of my engagement. W wo h•s b88n und8rt&kèn so that I mlght statè to tho trusta&s t1￿8 matt8ts l am requlrèd to stat8 to t￿M In an Ind•p￿dènt èxam1￿ffs and for no othw w￿1$¢. To tha lullast èxtènt Fémlttod by law, I do not accept cf assume r95ponslblllty lo ￿Yone other than tho tharfty and thg trustees for my work or for thls Basls ol Independent Examln•r's Stst•m•nt èxamlnation is carried OLrt in accordanc• ￿ R•gulatleft 11 of th• 2006 Ragula￿£￿. Art •xamlnatOon n¢lud¢$ • revlew of th• a¢¢ountlng r¢¢ords kept by the ¢hartty and a ¢ompa￿s￿n of lh* •¢¢ounts o$¢nlod wtth r¢ctyds. It algo IndLKlos con$ld¢raUM of •ny unusual Itoms or dls¢losuro$ In th• coun15. tnd seoks eX￿anat￿n5 ffcffl the tru5teos concornlng any such mattgTS. Th• procodur•s undertaken do not provldo all th8 evldonce that would bo roqulrod In ￿ rAMIrt. and consoquenuy I do not •xpr8ss an audlt oplnlon on thè vl•w glvgn by th• axoLmts. Indoynd•nt Examln•r'$ St•t•mont In th• ¢ours• of my examIn4￿0ft no matt•r ha$ com to my attw)Ilon:. whlch glves Th reagonablo causeto b￿￿¥0 that In any matwlal r05POCt tho req￿rem9nts:. to koop accountlng rocords In acc(xdanco wlth Soctlon 44 11 Kal of the 2005 Act and Regula￿On 4 of th• 2C#)6 Regulatlons. and to preparo accounts whlch accord wtth accoUn￿n9 records and comply w6th Rogulatlon 9 of th• 2006 R¢gulaWon$ have not been met. or 2. to whlth. In my O￿nIOn. att•Th￿¢)n SI￿￿d ￿ trawn In ord•rto Ona￿# a undorstandlng ofth• accounts to b• r•ach•d. Chèstn•y Hous• 149 Markèt Street st Andrews Flfe. KY16 9PF en erson ac Chartered Accountants 19 S•pt•mb•r 2025 **The Scottish Historical Review Trust** ## **Statement of Receipts and Payments for the year ended 31 December 2024** |**Notes**
**_Receipts from_**
**_charitable activities:_**
Share of income from publication of "The Scottish Historical Review"
Investment income
**Total receipts**
**Payments**
**_Cost of charitable activities:_**
Charitable donations -
Boydell & Brewer
Durham University - contribution to 2024 conference
Women's Letters workshop
Saltire Society
Bursaries
Editorial fees and expenses
Lecture expenses
Expenses of travel and meetings
Website costs
Sundry expenses
**_Governance costs:_**
Legal fees
Examination fee
**Total payments**
**Deficit for the year**||**Total**
**funds**
**2024**
**£**
21,605
3,485
25,090
2,000
370
895
-|**Prior year**
**Total**
**funds**
**2023**
**£**
16,922
-
16,922| |---|---|---|---| ||||-
-
-
4,000| |||3,265
5,197
12,928
1,372
469
495
275|4,000
1,332
8,264
1,007
995
1,949
37| |||24,001
1,200
696
25,897
(807)|17,584
-
696| ||||18,280| ||||(1,358)| The notes on page 7 form an integral part of these accounts. 5 ## **The Scottish Historical Review Trust** ## **Statement of Balances as at 31 December 2024** |**Notes**
Opening cash at bank and in hand
Deficit for the year
Closing cash at bank and in hand
**Bank and Cash Balances**
Virgin Bank current account
Virgin Bank term deposit
**Liabilities**
Editorial fees
Travel expenses
Independent Examiner's fee||**Total**
**funds**
**2024**
**£**
154,524
(807)
153,717
65,232
88,485
153,717
-
-
756|**Prior year**
**Total**
**funds**
**2023**
**£**
155,882
(1,358)
154,524
69,524
85,000
154,524
5,500
470

720

6,690| |---|---|---|---| ||||| ||||| ||||| ||||| ||||| ||||
| |||756|| The notes on page 7 form an integral part of these accounts. Approved by the trustees and authorised for issue on 18 September 2025. 6 ## **The Scottish Historical Review Trust** ## **Notes to the Accounts** ## **for the year ended 31 December 2024** ## **1 Principal Accounting Policies** ## **1.1 Basis of Accounting** These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). ## **1.2 Nature and purpose of funds** All funds are unrestricted. Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. The trustees maintain a single unrestricted general fund for the day-to-day running of the charity. ## **2 Transactions with trustees** Travel expenses, incurred in attending meetings, and postage costs are re-imbursed to trustees on production of receipts. Expenses amounting to £809 were re-imbursed to 3 trustees (2023 - £325 to four trustees). ## **3 Control** Control of the charity lies in the hands of the trustees. ## **4 Liability of Charity Trustees** The charity trustees have no liability to pay any sums to meet the debts (or other liabilities) of the charity if it is wound up. 7