Charity registration number SC047201 (Scotland)
THE MRS WINIFREDANN KENNEDY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

THE MRS WINIFRED ANN KENNEDYTRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr lain Clarke Howie
John Currie
Charles Laurie
Andrew Low
Sheel8gh Rusby
Alison Smith
Kimberley Hiddleston
Charfty reglstration
Scotland
SC047201
Independent examiner
John Simpson FCA
Montpelier Professional (Galloway) Limited
1 Dashwood Square
Ne￿on Stewart
DG8 6EQ
Bankers
Royal Bank of Scotland
133 King Street
Castle Douglas
DG71NB
Investec Bank plc
2 Gresham Street
London
EC2V 7QP

THE MRS WINIFREDANN KENNEDY TRUST
CONTENTS
Page
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
6-12

THE MRS WINIFRED ANN KENNEDY TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial ststements for the year ended 31 March 2025.
The finanaal statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the 's governing document, the Charities and Trustee Investment {Scotland)
Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard
applicable in the UK and Republic of Ireland" and the Chartties SORP "Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)"
Objectives and activities
The purpose of the Charity is to support agencies and organisations which improve the conditions of those
experiencing mental health issues or physical disabilities within Dumfries & Galloway region.
Eligible applicants come from..
Community Groups
Registered Charities
Voluntary Organisations
Not for Profft Groups
Public Sector Org8nisations
All applicants must be active within Dumfries & Galloway and any spend is restricted to those resident in Dumfries &
Galloway. The trust will not nomally fund individual applicants.
Public benefrt
The trustees have referred to the guidan￿ contained in the Office of the Scottish Charity Regulator's general
guidance on public benefit when reviewing their objectives and in planning their future activities. In particular. the
trustees Consider how planned activities will contribute to the objectives they have set
GTrntmaking
Grantmaking is primarily for capital expenditure and will not cover core costs for existing work, staff salaries or
retrospective fijnding.
Achievements and p8rfomiance
Significant activitias and achievements against objectives
During the year grants totalling £46,655 (2024.. £8,279) were made.
Financial review
The year to 31 March 2025 has seen a deficit of £27,358 (2024.. surplus £41,923). Total ￿ndS held at the year end
are £8(￿,038, all of which are unrestricted. The reason for the deficit was that donations made were at a much
higher level that the previous year.
Going con￿rn
The fi.nancial statements have been prepared on a going concem basis as the trustees believe that no material
uncertainties exist. The trustees have considered the level of funds held and expected level of income and
expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is
sufficient viith the level of reserves for the charty to be able to continue as a going concern.
Reserves poliGy
The trustees reserves policy is to maintain unrestricted reserves at a level that will continue to generate sufficient
income for the charity to continue to make grants from the income generated in future years. The tnjstees believes
the current fund balance achieves this aim.
Investment policy
The trustees plan to make the donations from the income generated from the investment portfolio over a cycle.
During the year income of £24,749 (2024: £23,829) was generated. Investec manage the portfolio on a balanced
medium risk and the trustees are happy with the performance so far.

THE MRS WINIFRED ANN KENNEDY TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Plans for future perlods
It is hoped that as the trust becomes more known in the communty grant applications will increase and we will be
able to help make a positive impact within the region for those suffering from mental or physical disabilities.
The trust has transitioned to the administration work being completed by an unpaid volunteer.
Structure, governance and management
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The trustees who served during the year and up to the date of Signatu￿ of the financial statements were:
Mr lain Clarke Howie
John Currie
Charles Laurie
Andrew Low
Sheelagh Rusby
Alison Smith
Elisabeth Gray
Keith Thom
Kimberley Hiddleston
(Resigned 6 January 2025)
{De￿aSed 21 October 2024)
Recmitment and appointment of tmstees
There must always be a minimum of S and maximum of 11 trustees. The trustees must have lived in the former
stewartry district council area for a period of at least 5 years. Trustees should be upstanding members of the
community.
Org8nisation81 structure
The trustees of Mrs Winifred Ann Kennedy Trust act under the terms of the Wll of the late Mrs Kennedy who
provided that funds were to be employed for the benefit of the physically or mentally disabled of Dumfries and
Galloway. The trustees wish applications for funding from trust funds. Applications from groups or c(ganisations
satisfying trust objects will be considered by trustees at their quarterly meetings.
Othermatte
Risk managen7ent
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
ees. report was approved by the Board of Trustees.
L> ,
Howie
r lain Clark
Trustee

THE MRS WINIFRED ANN KENNEDY TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE MRS WINIFRED ANN KENNEDY TRUST
I report on the financial ststements of the for the year ended 31 March 2025, which are set out on pages 4 to 12.
Respective responsibilities of trustees and examiner
The 's trustees are responsible for the preparation of the financial statements in accordance with the temis of the
Charities and Trustee Investment (Scotland} Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The
trustees consider that the audit requirement of Regulation 10(1)(a>-(cl of the Charities Accounts (Scotland)
Regulations 2006 does not apply.
It is my responsibility to examine the financial statements as required under section 44(1){c) of the Charities and
Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.
Basls of independent examiner's ststement
My examination is carried out in accordance viith Regulation 11 of the Charities Accounts (Scotland) Regulations
2006. An examination includes a review of the accounting records kept by th& charity and a compariscn of the
financial statements presented with those records. It also includes consideration of any unusual items or disclosures
in the financial statements, and seeking 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 I do not
express an audit opinion on the view given by the financial statements.
Independent examinerfs statomant
In the course of my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in any material respect the requirements..
to keep arLounting records in accordance with Section 44(1)(a) of the Charities and Trustee Investrnent
(Scotland) Act 2005 and Regulation 4 of the Charrties Accounts (Scotland) Regulations 2006, and
to prepare financial statements which accord with the accounting records 8nd comply with Regulation 8 of
the Charities Accounts (Scotland) Regulath'ons 2006
have not been met, or
2. to which, in my opinion, attention should be dra￿ in order to enable a proper understanding of the financial
statements to be reached.
John Simpson FCA
Chartered Accountsnts Ireland
Montpelier Professional {Galloway) Limited
1 Dashwood Square
NeW(on Stewart
DG8 6EQ
Date:........

THE MRS WINIFREDANN KENNEDY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestrlcted
funds
2025
Unrestricted
funds
2024
Notes
Income from:
Donations and legacies
Investments
50
23.829
24,749
Totsl Income
24,749
23.879
Expenditure on:
Raising funds
Charitable activities
4,390
48,447
4,163
10,674
Total expenditure
52,837
14,837
Net gainsl(losses) on investments
12
730
32,881
Net incomellexpendlture) and movement In funds
(27,358)
41,923
Reconciliation of funds:
Fund balances at 1 April 2024
833,396
791,473
Fund balances at 31 March 2025
806,038
833,396
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

THE MRS WINIFREDANN KENNEDY TRUST
BALANCE SHEET
AS AT31 MARCH 2025
2025
2024
Notes
Fixed assets
Investments
14
778,998
778,760
Current assets
Cash at bank and in hand
29,080
55,886
Creditors: amounts falling due wlthln
one year
15
(2,040)
(1,250)
Net current assets
27,040
54,636
Total assets less current Ilabllities
806,038
833,396
The funds of the
Unrestricted funds
16
806,038
833,396
806,038
833,396
Th
Inancial statements were approved by the trustees on . .3.1.Is
ain Cl
ustee
ke Howie

THE MRS WINIFREDANN KENNEDY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng pollcles
Charity information
The Mrs Winrfred Ann Kennedy Trust is a Scottish registered charity.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the 's goveming document, the Charities and
Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP
"Accounting and Reporting by Charities". Ststement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and
Republic of Ireland (FRS 102)" The is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional Cu￿encY of the . Monetary amounts
in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. [modified to include the
revaluation of freehold properties and to include investment properties and certain financial instruments at fair
value]. The principal accounting policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the has
adequate resour￿$ to continue in operational existence for the foreseeable future. Thus the trustees continue
to adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific condttions by donors that the capital must be maintained by the .
1.4 Income
Income is reCogni￿d when the is legally entitled to it after any performan￿ conditions have been met, the
amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised On￿ the has been notified of the
donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to
donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or othe￿ise if the has been notified of an impending distribution, the
amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent
asset.

THE MRS WINIFRED ANN KENNEDY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Contlnued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will 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 dir&t costs and
shared costs, including support costs involved in undertaking each activity. Direct costs attributatle to a single
activty are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and
depreciation charges are allocated on the portion of the asset's use.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other shorkterm liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Finanaal assets
classified as receivable within one year are not amortised.
Baslc financial liabilltles
Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are Subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade Creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interesl method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the 's contractual obligations expire or are discharged or cancelled.
1.8 Employee beneflts
The cost of any unused holiday entitiement is recognised in the period in which the employee's senfices are
received.
Tennination benefits are recognised immediately as an expense when the is demonstrably committed to
terminate the employment of an employee or to provide terminats'on benefits.

THE MRS WINIFRED ANN KENNEDY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Critical accounting estimates and judgements
In the application of the 's accounting policies. the trustees are required to make judgements. estimates and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects ￿lY that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from donations and legacies
Unrestricted
funds
2025
Unrestricted
funds
2024
Donations and gifts
50
Income from investments
Unrestricted Unrestricted
funds
funds
2025
2024
Income from listed investments
24,749
23,829
Expenditure on raising funds
Unrestrlcted Unrestricted
funds
funds
2025
2024
Investment management
4,390
4,163

THE MRS WINIFRED ANN KENNEDY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expenditure on charitable activltles
Grants pald Grants pald
2025
2024
Direct costs
Insurance
Donations
792
779
200
792
979
Grant funding of activities (see note 7)
46,655
8,279
Share of support and governance costs {se8 note 8)
Support
1,000
1.416
48.447
10,674
Analysls by fund
Unrestricted funds
48,447
10,674
Grants payable
Grants paid Grants paid
2025
2024
Gr8nts to instrtutions..
Birchvale Players
Lockerbie Primary School
LoGal Initiatives in New Galloway {LING)
Solway Support CIC
Castle Douglas IT Centre
Better Lives Partnership
Castle Douglas High School sensory room
The Fullarton Theatre
DG Handyvan Project
Gatehouse Development Initiative
1,929
500
4,500
1.350
6,158
7,226
13,841
2,500
6,930
10,000
46,655
8,279
Support costs allocated to activities
Grants paid
2025
Total
2024
Governance
1,000
1,416

THE MRS WINIFREDANN KENNEDYTRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support costs allocated to actlvities
(Continued)
2025
2024
Governance costs comprise:
Independent Examiners fees
1,000
1,416
1.000
1,416
Nat movement In funds
2025
2024
The net movement in funds is stated after ¢hargingl(crediting):
Fees payable for the independent examination of the charity's financial
ststements
1,000
1,416
10 Trustees
Trustees, expenses
None of the trustees (or any persons conneded with them) received any remuneration or benefits from the
during the year.
The charity Insuran￿ policy includes trustee liability cover.
11 Employees
The average monthly number of employees during the year was:
2025
Number
2024
Number
Total
There were no employe@s whose annual remuneration was more than £60,000.
12 Gains and losses on investments
Unrestrlcted Unrestrlcted
funds
funds
2025
2024
Gainsl(losses} arising on..
Revaluation of investments
Sale of investments
(2,981)
3,711
31,318
1,563
730
32,881
10-

THE MRS WINIFRED ANN KENNEDY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
14 Flxed asset Investments
Listed
Unllstsd
Investments Investments
Total
Cost or valuatlon
At 1 April 2024
Additions
ljaluation changes
Disposals
771,060
144,430
730
{144,922)
7,700
778,760
144,430
730
(144,922)
At 31 March 2025
771,298
7,700
778,998
Carrying amount
At 31 March 2025
771,298
7,700
778,998
At 31 March 2024
771,060
7,700
778,760
UK Listed Investments are represented by:
UK Fixed Inccome
Overseas Fixed Income
UK Equities
European Equities
North American Equities
Japanese Equtties
Far East & Australian Equities
Overseas Equities
Emerging Economies
Commercial Propety
Alternative
£93,438
£82,808
£158,059
£54,938
£127,903
£21,561
£21,657
£77,006
£17,715
£25,679
£771,298
The historical cost of the listed investments at 31 March 2025 was £658.689 (2024: £631,799).
Unlisted Investments are UK equity shares, the historical cost of these investments at 31 March 2025 was
£7,700 (2024: £7,700).
15 Creditors: amounts falling due wlthln one year
2025
2024
Accruals and deferred income
2,040
1,250
11

THE MRS WINIFRED ANN KENNEDY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
16 Unrestrlcted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 April
2024
Incoming
resources
Resources
expended
Gains and At 31 March
losses
2025
General funds
833,396
24,749
{52,837}
730
806,038
Previous year:
At 1 April
2023
Incomlng
resources
Resources
expended
Gains and At 31 March
losses
2024
General funds
791,473
23,879
(14,837)
32,881
833,396
17 Analysis of net assets between funds
Unrestricted
funds
2025
At 31 March 2025:
Investments
Current assetsl(liabilities)
778,998
27,040
806,038
Unrestrlcted
funds
2024
At 31 March 2024:
Investments
Current assetsl(liabilities)
778,780
54.636
833,396
18 Related party transactions
There were no disdosable related party transactions during the year (2024 - none).
12-