Scottish Charity No SC046817
GRAHAM AND HENRIETTA SOMERVELL’S WILDLIFE TRUST
TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Brodies LLP Brodies House 31-33 Union Grove Aberdeen AB10 6SD Ref: MSTE.CEF.GD.SOM0065
GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST
FOR THE YEAR ENDED 31 DECEMBER 2025
Reference and Administration Information
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Scottish Charity Number SC046817
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Contents
Page Reference and Administrative Information 1 Annual Report of the Trustees 2-3 Independent Examiner's Report on the accounts 4 Statement of Receipts and Payments 5 Statement of Balances 6 Notes to the Financial Statements 7-9
Trustees
Henrietta Somervell Mark Stewart
Registered Office, Solicitors, Secretaries & Treasurers Brodies LLP Brodies House 31-33 Union Street Aberdeen AB10 6SD
Investment Managers Rathbones Quartermile One 15 Laurieston Place Ediinburgh EH3 9EN
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Independent Examiner
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Neil Ritchie Chartered Accountant Brodies LLP Capital Square 58 Morrison Street Edinburgh EH3 8BP
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GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their report along with the financial statements for the year ended 31 December 2025.
Structure, Governance and Management
Establishment of trust
The trust was established by a deed of trust by Henrietta Mary Somervell dated 23 June 2016. It was registered as a Scottish charity on 31 August 2016 with registration number SC046817.
Trustee meetings and appointment
New trustees are appointed by the existing trustees, and are briefed on the trust's aims, objectives, grant making policy and purposes. At the annual trustees' meeting, Brodies LLP inform the trustees of any changes in the law that may affect the charity and the investment manager provides a detailed presentation or report on changes in market conditions. The trustees then agree the broad strategy and areas of activity for the charity, including consideration of grant making, investment, reserves and risk management policies and performance.
Objectives and Activities
Charitable purposes
The trust's charitable purpose is the advancement of environmental protection or improvement and the trustees operate as a “grant giving” charity for the benefit of that charitable purpose by making grants to appropriate institutions and individuals.
Regarding the criteria used by the trustees to assess success, the trustees monitor the performance of the trust's investment portfolio to measure the growth of capital and income. The trustees are able to distribute all of the generated income to support the chosen beneficiaries.
Grant making policy
Grants are awarded in accordance with the objectives set out in the trust's purposes above. The trustees’ policy is to consider applications for grants at an annual trustees' meeting.
Achievements and Performance
No voluntary income was received this year (2024: Enil).
The trustees made donations amounting to £15,000.00 (2024: £22,920.00) during the year.
Financial Review
The investment portfolio market value as at the end of the accounting year on 31 December 2025 was £590,456.00 (2024: £554,525.00).
Investment income received during the year amounted to £20,350.66 (2024: £21,167.37). The revenue account currently shows a balance of £3,176.79 (2024: £1,064.98).
Reserves policy
It is the policy of the trust to maintain unrestricted funds at a level sufficient to cover management, administration and donations. Reserves at 31 December 2025 were £608,178.21 (2024: £565,412.17), showing that the trust holds sufficient funds to cover these expenses.
Investment policy
The trust uses the services of Rathbones incorporating Investec Wealth & Investment Limited, as discretionary investment advisers. The policy is to look for a balance of income and capital growth with a medium risk profile and medium priority for income generation.
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GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST
ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
Risk management
The trustees have assessed the risks to which the trust is exposed, in particular those related to the operations and finances of the trust and are satisfied that systems are in place to mitigate exposure to major risks. The trustees consider variability of investment returns as one of the major risks, and therefore the trust uses the services of Rathbones as investment advisers.
Future Plans
By continuing to invest funds and receive income from these funds the charity will build up resources and award funding to charities in the following years, the charitable trust provides a long term commitment to meeting its objectives.
Statement of the Trustees’ Responsibilities
The trustees are responsible for preparing the trustees' annual report and 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 trust and of the incoming resources and application of resources of the trust for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently:
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the trust's constitution. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure of information to the independent examiner
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To the knowledge and belief of each of the persons who are trustees at the time the report is approved:
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So far as the trustee is aware, there is no relevant information of which the trust’s independent examiner is unaware, and
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- He has taken all the steps that he ought to have taken as a trustee in order to make himself aware of any relevant audit information, and to establish that the trust’s auditor is aware of the information.
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Approved by the trustees and authorised for issue on their behalf by:
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Alywietta Soworstell tse
Henrietta Somervell
tt Dotd2006 ete
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GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
| report on the financial statements of the charity for the year ended 31 December 2025 which are set out on pages 5 to 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) 2005 Act and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations 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) Regulations 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 items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, | do not express an audit opinion on the accounts.
Independent examiner's statement
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in any material respect the requirements:
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e to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
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e to prepare accounts which accord with the accounting records and comply with Regulation 9 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.
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Neil Ritchie ax’ de oa
CharteredBrodies LLP Accountant |I / osSf yef7 , /)
Capital Square | gf JF ¢o tee
58 Morrison Street f. faa. {7=
Edinburgh EH3 8BP /
si: ay) 1 A /
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GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST
STATEMENT OF RECEIPTS AND PAYMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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|Unrestricted|Fund|
|Expendable|2025|2024|
|Endowment|
|Fund|Revenue|Fund|Total|Total|
|Note|£|£|£|£|
|Receipts|
|Investment|income|2|-|20,350.66|20,350.66|21,167.37|
|-|20,350.66|20,350.66|21,167.37|
|Investments|realised|(net)|9|22,819.87|22,819.87|18,728.11|
|Total|receipts|22,819.87|20,350.66|43,170.53|39,895.48|
|Payments|
|Investment|management|costs|11|5,365.29|-|5,365.29|4,927.13|
|.|Donations|10|-|15,000.00|15,000.00|22,920.00|
|Administration|expenses|12|5,192.55|15,577.65|20,770.20|15,602.40|
|Total|payments|10,557.84|30,577.65|41,135.49|43,449.53|
|Net|receipts|/ (payments)|12,262.03|(|10,226.99)|2,035.04|(|3,554.05)|
|Transfer|(from)|/|to funds|(|12,338.80)|12,338.80|-|-|
|(Deficit)|/ surplus|for year|(|16.77)|2,111.81|2,035.04|(|3,554.05)|
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All activities of the charitable trust relate to continuing operations
The notes on pages 7 to 9 form part of these financial statements.
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GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST
STATEMENT OF BALANCES
AS AT 31 DECEMBER 2025
| Expendable | Expendable | |||||||
|---|---|---|---|---|---|---|---|---|
| Endowment | 2025 | 2024 | ||||||
| Note | Funds | Revenue | Funds | Total | Total | |||
| £ | £ | £ | £ | |||||
| Cash Funds | ||||||||
| Opening cash at bank and in hand | 14,622.19 | 1,064.98 | 15,687.17 | 19,241.22 | ||||
| Add: | ||||||||
| Receipt and Payments (deficit) | / surplus | ( | 76.77) | 2,111.84 | 2,035.04 | ( | 3,554.05) | |
| Closing cash at bank and in hand | 14,545.42 | 3,176.79 | 17,722.21 | 15,687.17 | ||||
| Bank And Cash Balances | ||||||||
| Investec - cash | - | - | 5,983.93 | |||||
| Rathbones - cash |
3,694.84 | - | 3,694.84 | - | ||||
| Brodies LLP | 3,176.79 | 3,176.79 | 3,717.04 | |||||
| Royal Bank of Scotland | ||||||||
| Solicitors Special DepositAccount | 10,850.58 | - | 10,850.58 | 5,986.20 | ||||
| 14,545.42 | 3,176.79 | 17,722.21 | 15,687.17 | |||||
| Investments | ||||||||
| Investments at market value | 590,456.00 | ~ | 590,456.00 | 554,525.00 | ||||
| Liabilities | ||||||||
| Brodies LLP fee outstanding | = | ~ | - | ( | 4,800.00) | |||
| - | - | - | (__ | 4,800.00) | ||||
| TotalReserves | 605,001.42 | 3,176.79 | 608,178.21 | 565,412.17 |
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Total Reserves
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Approved on behalf of the trustees on #y by‘pul Doub
easte Semel srt
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Henrietta Somervell
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GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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1 Basis of Accounting These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulation 2006 (as amended).
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2 Nature and Purpose of Funds Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. The trust's unrestricted funds comprise of an ‘Expendable Endowment Fund’ and a ‘Revenue Fund. The Expendable Endowment Fund represents the capital funds originally received and subsequent transactions for investment to generate the income (revenue) less any relevant expenses incurred. The Revenue Fund is the income received from the capital investments also subject to expenses. Donations are usually paid from the available revenue balance. However the trustees are free to use either fund for any purpose in furtherance of the charitable purposes, if they so determine. Administration costs have been allocated between capital and revenue funds on a 25:75 basis this year,
3 VAT
The trust is not registered for VAT and accordingly expenditure includes VAT where appropriate.
- 4 Taxation
The trust is a charity and is recognised as such by H M Revenue & Customs for taxation purposes. As a result there is no liability to taxation on any of its income.
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5 Employees The trust had no employees at any time during the year.
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6 Trustees Remuneration 2024: Enil 2025: £Enil
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7? Trustees Expenses 2024: Enil
2025: £ nil
8 Related Party Transactions
Mark Stewart, trustee, is a member of the firm Brodies LLP, charged fees and expenses of £20,710.20 {including VAT) during the year (2024: £15,542.40) for the management of the charity including preparation & independent examination of the accounts.
- 9 Investments
Investments are quoted on International Stock Exchanges and stated at market value. Investments are reviewed at least yearly by stockbrokers and changes in the portfolio are made on their recommendation.
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GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
| 9 | Investments (cont'd) | 2025 | 2024 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Opening market value | 554,525.00 | 564,124.00 | |||
| Less: | |||||
| Disposals at opening market value/cost | ( | 53,185.00) | ( | 18,241.00) | |
| Add: | |||||
| Acquisitions at cost | 39,911.91 | 23,984.64 | |||
| Net gains/(losses) on revaluation at 31 December | 49,204.09 | ( | 15,342.64) | ||
| Closing market value | 590,456.00 | 554,525.00 | |||
| Cost | 470,612.62 | 493,966.84 | |||
| Cash movement | £ | £ | |||
| Investments realised | 62,731.78 | 42,712.75 | |||
| Investments purchased | ( | 39,911.91) | ( | 23,984.64) | |
| Net investments realised | 22,819.87 | 18,728.11 | |||
| 10 | Donations Made | 2025 | 2024 | ||
| £ | £ | ||||
| Herts and Middlesex Wildlife Trust | - | 3,500.00 | |||
| Red Squirrel Survival Trust Ltd | 1,000.00 | 8,160.00 | |||
| RSPB Scotland | 400.00 | - | |||
| Scottish Wildlife Trust | 1,700.00 | 2,500.00 | |||
| LEAF (Linking Environment and Farming) | 1,700.00 | 2,501.00 | |||
| TheWildcat Community Interest Company | 1,000.00 | 5,000.00 | |||
| The Barn Owl Trust | - | 1,261.00 | |||
| Marine Conservation Society | 1,000.00 | “ | |||
| The Mammal Society | 1,000.00 | - | |||
| Bright Green Nature | 1,000.00 | - | |||
| Hebridean Whale & Dolphin Trust | 1,000.00 | - | |||
| The Froglife Trust | 1,400.00 | - | |||
| Berkshire, Buckinghamshire and Oxfordshire Wildlife Trust | 1,000.00 | - | |||
| Scottish Beekeepers Association | 400.00 | - | |||
| Hedges and Meadows CIC | 1,400.00 | - | |||
| Bumblebee Conservation Trust | 1,000.00 | - | |||
| 15,000.00 | 22,922.00 |
Note:- Donations paid in 2024 include donations amounting to £7,500.00 which were agreed in 2023.
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GRAHAM AND HENRIETTA SOMERVELL'S WILDLIFE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
| 11 | Investment Management Costs | 2025 | 2024 | |
|---|---|---|---|---|
| £ | £ | |||
| Rathbones/ Investec Wealth & Investment Ltd | - portfolio | |||
| management fees | 5,365.29 | 4,927.13 | ||
| 12 | Administration Expenses | 2025 | 2024 | |
| £ | £ | |||
| Brodies LLP - management fees & expenses +VAT | VAT | 20,710.20 | 15,542.40 | |
| LEI renewal fee | 60.00 | 60.00 | ||
| 20,770.20 | 15,602.40 |
13 Guarantees and Commitments
There are no contingent liabilities at 31 December 2025 (2024: none).
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