Charfty number: SC046233
KILPATRICK FRASER CHARITABLE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

KILPATRICK FRASER CHARITABLE TRUST
CONTENTS
Page
Reference and admlnlstratlve d•talls of the Charlty. Its Trustoes and advls•rs
Trust6es' report
Independont examlnerfs rèport
Statement of flnanclal actlvltles
Balanc6 sheet
Not•s to the flnanclal statoments
9-16

KILPATRICK FRASER CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARif(. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustaas
Charlty registered number
SC046233
Prlnclpal offlcè
Accountants
A4B Audit & Accountancy Llmlted, 133 Flnnleson Street, Glasgow, G3 8HB
Banker8
Clydesdale Bank, 40 St Vincent Place, Glasgow, G12HL
Sollcltors
Brodles LLP, 110 Queen Street, Glasgow, G13BX
Page 1

KILPATRICK FRASER CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the Charity for the year from 1
April 2024 to 31 March 2025.
Objoctlves and actlvltles
a. Pollcles and obJectlv•s
The charity will promote, advance and further charitable purposes by operating as a 'grant giving. charity which
will support financially and otherwise charities, community groups and others (such beneficiaries principally but
not limited to be found in Scotland) which charitably further the purposes detailed below and provide public
benefit with a prlmary (but not excluslve) focus on the support of children and young people, medical research
and support for older people and those affected with learning difficulties, cancer support and research and soclal
Incluslon, employability and support to those who would benefit from opportunities they have not had due to
social or economic circumstances.
b. Grant maklng pollcles
The prlnclpaS purposes of the charlty are for the -
1. Prevention or relief of poverty
2. Advancement of health
3. Advancement of cltlz8nship or community d8velopment
4. Advancement of the arts, heritage, cuSture or sclence
5. Advancement of public partlcipation in sport
6. Provision of recreational facilities. or th8 organlsation of recreational actlvitles, wlth the object of Improvlng
the conditions of Ilfe for the persons for whom the facilitles or actlvities are prlmarily intended
7. The relief of those In need by reason of agè, ill health, disability, financial hardship or other disadvantage
Achlevements and parformanca
a. Revlew of actlvltl•8, kay porfomiance Indlcators and plans for the futura
We donated less money Ihan in 202312024 partly because of the timing of when some grants were made. We
supported sixty projects compared with seventy one in the previous year.
The range of Charitles supported were very dlverse with the maln beneficlarles being Involved in medical
research, Hospices and helping young people improve their lives through sport, outdoor activities and education.
Our main policy is to fund small scale targeted projects involvlng the provision of equlpment.
Flnanclal revlew
. Golng con¢ern
After maklng appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable fvture. For this reason, they continue to adopt
the going COn￿M basis in preparing the financlal statements.
Page 2

KILPATRICK FRASER CHARITABLE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
b. Reserves pollcy
The charity Is supported by related companles making donations to support Its charitable work and Is hence
dependent on thelr profitabllty. It Is policy to retain financial reserves equlvalent to one year's charitable income
should there be a reduction in fulure donations. The reserv&s pollcy was met during the financial year.
Structure, governance and management
a. Constltutlon
Kllpatrick Fraser Charitable Trust Is a reglstered charlty, number SC046233. and 18 constituted under a Trust
deed. It was r8gi8t8red with OSCR on 6 January 2016.
b. Method8 of appolntment or •lectlon of Trustees
The management of tha Charlty Is the responsibility of the Trustee8 who are alected and co-opted under Ihe
terms of the Trust doed.
¢. Organlsatlonal structura and declslon•maklng pollcl•8
The afftlrs of the charl
arc m2naqcd b the Chirlty Trii8tpp8,
d. Risk management
The Trustees have assessed the major rlsks lo whlch the charity is exposed, In partlcular those related to
operations and finances and th8 milig8ting 8Ctlons to reduce these risk8. The Trustees are satisfied that the
syst8ms and procedures In placo properly record all transactions and requlre wrltten evidence that our donations
were used for thelr Intended purpose.
Page 3

KILPATRICK FRASER CHARITABLE TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Statement of Trusteos, responslbllltlos
The Trustees are responsible for preparing the Trustees, report and the financlal statements In accordance wlth
appllcabl8 law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng
Practlce).
The law appllcable to charitle8 In ScotlarKI requires the Trustees to prepare financial Statements for each
financlal whlch glv8 a tru8 and falr view of the state of affairs of the Charity and of its incoming resources and
application of resources. including Its Sncome and expendlture, for that perlod. In preparing these flnandal
st8tements, the Trustees are requSred to:
select sultable accountlng pollcles and then apply them conslstently.,
observe the melhods and principles of the Charilies SORP (FRS 102);
make ludg6ments and accountlng estimates that are reasonable and prudent;
state whether appllcable UK Accountlng Slandards (FRS 102) have been followed. subjéct to any m8terlal
d8partures dlsclosed and explained In the financial statements;
prepare the financial 8tatements on the going Goncern basls unle&81118 Inapproprlat8 to presume that Ihe
Charity will continue In busln8SS.
The Trustees are responslbl8 for keeplng adequate accountlng records that are sufflclent to show and explaln
the Chaiiws transactions and dlsclose with reasonable accuracy at any time the financlal positlon of the Charity
and enable them to ensure Ihat the flnanclal statements comply wtth the Charities and Trustee Investment
(Scotlandl Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the
Trust d88d. They are also responsible for safeguarding the assets of the Charity and hence for taklng
reasonable steps for tho preventlon and detectlon of fraud and other Irregularltle8.
Approved by order of the memb8rs of th8 board of Trustees arKI signed on their behalf by:
ee
Date:
0ts1£kn 2J)I
Page 4

KILPATRICK FRASER CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Independent Examlnerfs Report to tha Trustea8 of Kllpatrlck Fraser Charltable Trust
I report on the accounts of the charty for the year ended 31 March 2025 which are set out on pages 7 to 16.
Thls report Is made solely to the charitys Trustee5. as a body. In accordance wlth regulation 11 of the Charities
Accounts (Scotland) Regulations 2006. My work has been undertaken so that I might state to the charitys
Trustees those matters l am requlred to state to them in an Independent examiner's report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the
charity and the charltvs Trustees as a body, for my work or for thls report.
Respectlve Responslbllltles of Trustees and Examlner
The charitls trustees are responsibile for the preparatlon of the financial statements in accordance with the
terms of the Charities and Trustee Investment (Scotland) Act 2005 ('the Act,) and the Charllles Accounts
(Scotland) Regulation 2006 ('the Accounts Regulations,). The trustees consider that the audit requirement of
regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It Is my responsibility to examine the
financial statements as required under section 44(1)(c) of the Act and to state whether partlcular matters have
come to my att8ntlon.
Basls of Independent Examlner's Statement
My examination was carrled out In accordance wlth regulatlon 11 of the Accounts Regulatlons. An examlnatlon
includes a review of th8 accountlng r8cords kept by th8 charity and a comparison of Ihe financial statements
presented with those records. It also includes consideratlon of any unusual items or disclosures in the financial
statements, and seeklng explanations from you as trustees concernlng any such matters. The procedures
undertaken do not provlde all the avldence that would be requlred in an audit. and consequently I do not express
an audit oplnlon on the view given by the accounts.
Page 5

KILPATRICK FRASER CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Independgnt Examlnorfs Statement
In the course of my examination, no matter has come to my attention:
which glves me reasonable cause to believe that In any material respect the requirements:
to keep accountlng reo)rds In accordance wlth sectlon 44(1)(8) of the Act and regulatlon 4 of Ihe
Accounts Regulations; and
to prepare financial statements whlch accord with the accounting records, Accountlng and
Reporting by Charities preparing thelr accounts in accordance with the Financial Reporting
Standard in th8 UK and Republic of Ireland (FRS 102) and in other respects comply wilh regulation
8 of the Accounts Regulatlons
have not been met; or
to whlch, In my oplnlon, attentlon should be drawn In order to enable proper understandlng of the flnanclal
Statements to be reach8d.
Thls report Is made solely lo the charltvs Trustees, as a body, In accordance wlth regulatlon 11 of th8 Charltl88
Accounls (Scotland) Regulations 2006. My work has been undertaken so that I might state to tho charltys
Trust888 those matters l am required to state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the
charfty and the charltws Trust8es as a body, for my work or for thls report.
Signed:
Dated: £ G>ckU Lo L
CA
AAB Audit and Accountancy Llmlted
133 Finnieston Street
Glasgow
G3 8HB
Page 6

KILPATRICK FRASER CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Unrestrlcted
funds
2025
Total
fund8
2025
Total
funds
2024
Note
Income from:
Donations and legacies
Investments
150,000
11,613
150,000
11,613
160,000
12,494
Total Income
161,613
161,613
172,494
Expendlture on:
Charitable activities
187.798
187,798
260,888
Total expendltura
187,798
187,798
260,888
Raconclllatlon of funds:
Total funds brought forward
Net movement in funds
305,022
(26,185)
305,022
(26,185)
393,416
(88,394)
Total funds carrl•d forward
278,837
278,837
305,022
The Statement of Flnanclal Actlvities includes all galns and losses recognlsed Sn the year.
The notes on pages 9 to 16 form part of these financial statements.
Page 7

KILPATRICK FRASER CHARITABLE TRUST
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Current assets
Debtors
Investments
Cash at bank and in hand
3,494
245,799
33,569
16,901
264, 879
27,241
282,862
309.021
Credltors: amounts falllng due wlthln one
year
(4,025)
(3,999)
Net current assets
278,837
305,022
Total assets less current Ilabllltles
278.837
305,022
Total not a88•ts
278,837
305, 022
Charlty fund8
Unrestrlcted funds
10
278,837
305,022
Total fund8
278,837
305,022
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.
Date:
The notes on pages 9 to 16 form part of these financlal statements.
Page 8

KILPATRICK FRASER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcles
1.1 Basls of preparatlon of flnanclal statements
The financial statements have been prePa￿d in accordance wlth the Charities SORP (FRS 102)
Accounting and Reporting by Charitles: Statement of Recommended Practice appllcable to charities
preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard
appllcable in the UK and Republic of Ireland (FRS 102) and the Charities and Trustee Investment
(Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
Kllpatrfck Fraser Charitable Trust meets the definition of a publiG benefit entity under FRS 102.
1.2 Income
All income is recognised once the Charity has entlllement to the Income. it is probable that the
income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlem8nt is taken as the earller of the date on which elther: the charlty Is aware that
probate has been granted, the estate has been finalised and notification has been made by the
execulor(s) to the Trust that a distribution wlll be made, or when a distribution Is recelved from the
estate. Receipt of a legacy, in whole or In part, is only consid8red probable when the amount can be
measured reliably and the charity has been notified of the executorfs intention to make a distribution.
Whare legacies have been notified to the charity, or the charity is awara of the grantlng of probate,
and the criteria for income recognitlon have not been met, then the legacy is treat8d as a contingent
asset and disclosed If materfal.
Income tax recoverable In relation to Investm8nt income Is recognlsed at the time the Investment
income Is receivable.
1.3 Expondlturo
Expenditure Is recognls8d once there Is a legal or constructive obllgatlon to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits wlll be required in settlement and
the amount of the obligation can be measured reliably. Expenditure Is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
Involved in und8rtaking each activity. Dlrect costs attributable to a single activity are allocated directly
to that activity. Shar8d costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those actlvltles on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Charitable activities and Governance costs are costs incurred on the chariws operations, Including
support costs and costs relating to the governance of the charity apportioned to charitablg activities.
Grants payable are charged In the year when the offer Is made except In those cases where the
offer is conditional, such grants being recognised as expenditure when the conditions attachlng are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment. but not accrued as expenditure.
1.4 Current asset Investments
Monies on deposit with a maturity date of less than one year held for investment purposes rather
than to meet short-term cash commitments as they fall due.
Page 9

KILPATRICK FRASER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollclgs (contlnued)
1.5 Interest recalvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charity., this is normally upon notification of the interest paid or payable by the bank.
1.6 Debtors
Trade and other debtors are recognlsed at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 Cash at bank and In hand
Cash at bank and in hand includes cash and short-tenn highly liquid Investments wilh a short maturity
of three months or less from the date of acquisitlon or opening of the deposit or slmilar account.
1.8 Llabllllles and provlslons
Liabilities are recognlsed when there is an obligation at th6 Balance sheet date as a result of a past
event, it Is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity antlclpates St will pay to S8ttle the debt or the
amount it has feceived as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to Settle the obllgation. Where
the effect of the time value of money Ss material. the provision Is based on tha present valu6 of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised withln Interest payable and similar charges.
1.9 Flnanclal Instrum•nts
The Charity only has flnanclaS assets and financlal Ilabilitles of a kind that qualify as baslc financial
instruments. Basic financial instruments are initially recognised at transactlon value and subsequently
measured at thelr settlement value with the exceptlon of bank loans which are subsequently
measured at amortised cost using the effectlve interest method.
1.10 Fund accountlng
General funds are unrestricted funds which are avallable for use at th6 dlscretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Page 10

KILPATRICK FRASER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Incomo from donatlons and legacles
Unrestrlct•d
funds
2025
Total
funds
2025
Total
funds
2024
Donations
150,000
150,000
160.000
Total 2024
160,000
160,000
Investmont Income
Unrestrlcted
funds
2025
Total
funds
2025
Total
funds
2024
Investment Income - bank interest
11,613
11,613
12,494
Tot812024
12,494
12,494
Analys1$ of expendlturn by actlvltlas
Actlvltles
undertaken
dlrectly
2025
Support
costs
2025
Total
funds
2025
Total
funds
2024
Charitable Activities
182,308
5,490
187,798
260,888
Total 2024
255,068
5,820
260, 888
Page11

KILPATRICK FRASER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysls of oxpendlture by actlvltles (Contlnued)
Analysls of dlrect costs
Charitable
Actlvltl85
2025
Total
funds
2025
Total
funds
2024
Donatlons and grants
Bank charges
182.283
25
182,283
25
255,043
25
182,308
182,308
255,068
Total 2024
255,068
255, 068
Analysls of support costs
Charltable
Actlvltle8
2025
Total
funds
2025
Total
funds
2024
Expenditure on governance
5,490
5,490
5.820
Total 2024
5, 820
5,820
Page 12

KILPATRICK FRASER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Donatlons were made to the followlng:
2025
2024
St Andrews Hospice
Scottish Football Partnership
St Margarets of Scotland Hospice
Sight Scotland
Guide Dogs for Bllnd
Beatson
Spencerday Meningitis Research
Cancer Support UK
Erskine Hospital
Glasgow Chlldrens Hospltal Charlty
Children Today
Cure International
Airdrie Foodbank
South Ayrshire Foodbank
N I Childrens Hosplce
Childline
Chlldrens Surg8ry Foundation
Oth8r Donations (less than £5,000)
7.000
30,000
8,286
60,008
6.000
5,145
5, 000
7,650
5,196
5,250
9,162
5,000
5.950
5,500
5,257
5,000
5,000
5,000
2, 000
7,500
5,000
136 089
182,283
255,043
Independent examlner's remunaratlon
2025
2024
Fees payable to the Charitys independent examiner for the independent
examination of the Charitys annual accounts
1,290
1.200
Trustees, remuneratlon and •xpens•s
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
Page 13

KILPATRICK FRASER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Debtors
2025
2024
Due wlthln one year
Other debtors
3,494
16,901
3,494
16,901
Current asset Investments
2025
2024
Tem deposlt
245,799
264,879
Crodltors: Amounts falllng due wlthln on• yèar
2025
2024
Accruals and deferred Income
4,025
3, 999
Page 14

KILPATRICK FRASER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10. Stat8ment of funds
Statement of funds - ¢urr8nt year
Balance at
31 March
2025
Balance at 1
Aprll 2024
Incoma Expendlture
Unrestrlcted funds
General Funds - all funds
305,022
161,613
(187,798)
278,837
Statement of funds - prlor year
Balance at
31 March
2024
Balance at
1 April 2023
Income Expenditure
Unrestrlcted funds
General Funds - all funds
393,416
172,494
(260,888)
305,022
11. Summary of funds
Summary of funds - current year
Balance at
1 Aprll
2024
Balance at
31 March
2025
Income Expendlture
General funds
305,022
161,613
(187,798)
278,837
Summary of funds - prfor year
Balance at
31 March
2024
8alanc8 at
1 Apnl 2023
Income Expenditure
General funds
393,416
172,494
(260,888)
305,022
Page 15

KILPATRICK FRASER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12. Analysls of net assets between fund8
Analysls of n•t assats b•twoen funds - current year
Unrestrlcted
funds
2025
Totsl
funds
2025
Current assets
Credltors due Within one year
282.862
(4,025)
282,862
(4,025)
Total
278,837
278,837
Analysls ol net assets between funds - prlor year
Unrestricted
funds
2024
Total
funds
2024
Current assets
Creditors due within one year
309, 021
(3, 999)
309,021
(3,999)
Total
305, 022
305,022
13. Rolated party transactlons
Durlng the year, the Trust recelved donations from Group trading companies totalling £150,000 (2024:
£160,000).
Page 16