REGISTERED CHARITY NUMBER: $C050130
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
FOR WILLIAM WELSH CAIRD SCIO
WILLIAM WELSH CAIRD SCIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
N e en ee ee
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 12
Detailed Statement of Financial Activities 13
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WILLIAM WELSH CAIRD SCIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025
eee
The trustees present their report with the financial statements of the charity for the year ended 30 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The charity was established as a SCIO on 5 May 2020 in order to replace The William Welsh Caird Trust (SC005333). The assets and liabilities of The William Welsh Caird Trust were transferred to the charity on 5 May 2020.
The Trustees are empowered to augment the Lodge of Stonehaven No.65 Benevolent Fund and to give grants to, or provide annuities for, aged or infirm members of the Lodge of Stonehaven, who may require financial assistance. Any unused surplus may be used to give donations to deserving local charities. Any remaining surplus can be used along with the following year's surplus or may be transferred to capital.
ACHIEVEMENTS AND PERFORMANCE
The charity has provided grants and annuities in line with the above objectives of £13,885. In addition, the charity has paid donations of £3,200 to local charities.
FINANCIAL REVIEW
Financial position The accounts for the year ended 30 April 2025 show an excess of expenditure over income of £6,832. After net investment gains of £10,454 the net income for the year was £3,622. The market value of the investment portfolio at 30 April 2025 was £776,611 and the charity's tota] net assets at 30 April 2025 were £878,061.
Reserves policy Reserves comprise unrestricted funds. Unrestricted funds are maintained at a level sufficient to support the future activities of the charity. At 30 April 2025 unrestricted funds amounted to £878,061. Taxation status The SCIO is a charity for taxation purposes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a Scottish Charitable Incorporated Organisation. The charity was created on 5 May 2020.
Recruitment and appointment of new trustees The Trustees shal! consist of the current holders of the following positions:
The Provincial Grand Master of the Masonic Province of Kincardineshire, the Master, immediate Past Master, the Secretary and the Treasurer of the Lodge of Stonehaven No.65.
New Trustees receive informal advice and information from existing Trustees regarding their duties and the objectives of the charity.
Risk management
The Trustees have identified the major risks to which the charity is exposed and regularly review these ensuring that adequate systems are in place to mitigate those risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number $C050130 Principal address The Masonic Hail Ann Street STONEHAVEN Aberdeenshire AB39 2DA
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WILLIAM WELSH CAIRD SCIO
REPORT GE THE TRUSTEES
-
POR THE YEAR ENDED 40 APRIL. 13s
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7i
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WILLIAM WELSH CAIRD SCIO
I report on the accounts for the year ended 30 April 2025 set out on pages four to twelve.
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) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's 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 accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was 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 seeking explanations from you as 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 accounts.
Independent examiner's statement
In connection with 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 accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
-
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
{2} _ 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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WILLIAM WELSH CAIRD SCIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025
SSeS
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||||||
|---|---|---|---|---|
|2025|2024|
|Unresiricted|Total|
|funds|funds|
|Notes|£|£|
|INCOME AND ENDOWMENTS FROM|
|Investment income|3|22,897|17,836|
|EXPENDITURE|ON|
|Raising funds|4|6,765|7,408|
|Charitable|activities|
|Grants|13,885|12,155|
|Donations|3,200|3,100|
|Other|5,879|5,532|
|Total|29,729|28,195|
|Net gains on|investments|10,454|42,960|
|NET INCOME|3,622|32,601|
|RECONCILIATION OF FUNDS|
|Total|funds brought|forward|874,439|841,838|
|TOTAL FUNDS CARRIED FORWARD|878,061|874,439|
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The notes form part of these financial statements
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WILLIAM WELSH CAIRD SC1G
BALANCE SHRET
a APRU. 2035
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||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2628|Pcie)|
|Unrestricted|Point|
|finds|funds.|
|invesinitnts|&|VEAll|497|22F|
|CURRENT|ASSETS|
|Cosh|al tab:|£03,578;|DATES|
|CREMTORS|
|Assounts Jilling dua|with one|ven|9|emesis|CBIR|
|RET CURRENT ASSETS|1}|456|07,2?|
|TOTAL|ASSETS LESS|CURRENT|LIASHATIES|BIS|08T|S74|432|
|NETASSETS|$7802|RPE|SPD|
|FUNDS|1a|
|Unrestricted finds:|
|Revere avecintt|i3}}|$50|HF 2482|
|Capital scooumt|236511|R228|
|BURAK|239|
|TOTAL FUNDS|
|:|RIS|GE|874439|
|The|financial|statevnents|sere approved|d¢|die|Board|of|Trestees|and audhorsed|for iene on 29 January|2028 aed were aened on|iis|
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The sotes farm port of these finance sisiencnis
WILLIAM WELSH CAIRD SCIO
NOTES TO THE FENANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
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- CHARITY INFORMATION
William Welsh Caird SCIO is a Scottish Charitable Incorporated Organisation, registered in Scotland. The charity was established to replace The William Welsh Caird Trust. The principal address of the charity is the Masonic Hall, Ann Street, Stonehaven. The nature of the charity's operations are set out within the Report of the Trustees.
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102} 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity'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 only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The Trustees consider that there are no estimates and underlying assumptions which have significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.
Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
{nvestment income is derived from managed investment portfolios and is recognised in the period to which it relates.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable activities expenditure includes directly attributable support costs.
Inecoverable VAT is included with the item of expense to which it relates.
Grants payable are charged to the Statement of Financial Activities when the obligation arises. Management fees and administration fees are accrued in the year to which the fees relate.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
The charity's unrestricted revenue fund is available to augment the Ledge of Stonehaven No.65 Benevolent Fund and to give grants to, or provide annuities for, aged or infirm members of the Lodge of Stonehaven who may require financial assistance. Any unused surplus may be used to give donations to deserving local charities. Any remaining surplus can be used along with the following year's surplus or may be transferred to the charity's designated capital fund.
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WILLIAM WELSH CAIRD SCIO
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025
- ACCOUNTING POLICIES - continued
Investments
Investments are included at fair value, which is based on quoted market values, at the year end. Gains and losses on disposal and revaluation of investments are recognised in net income. Quoted stocks and shares are included in the balance sheet at their market value at the period end date.
Going Concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
Financial instruments
The charity has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" ofFRS102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrament.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged or cancelled.
- ENVESTMENT INCOME
| 3. | ENVESTMENT INCOMEINCOME | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Income frominvestment portfolio | 22,796 | 17,478 | |
| Interest oncash deposits | 101 | 358 | |
| 22,897 | 17,836 | ||
| 4. | RAISING FUNDS | ||
| Investmentmanagement costs | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Investmentmanagement fees | 6,765 | 7,408 | |
| 5. | GRANTS PAYABLE | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Grants | 13,885 | 12,155 | |
| Donations | 3,200 | 3,400 | |
| 17,085 | 15,255 |
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WILLIAM WELSH CAIRD SCIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025
- GRANTS PAYABLE - continued The total grants paid to institutions during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| StonehavenLodge | 2,600 | 2,500 |
| PillarKincardine | 300 | 300 |
| Friends ofCarronhill | 300 | 300 |
| 3,200 | 3,100 |
Grants to Aged or Infirm Members of Lodge of Stonehaven or (o their relatives as specified A Voluntary Grants
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| 4 | Quarterlypayments | 345 | 325 |
| 5 | Quarterlypayments | 430 | 240 |
| 4 | Quarterlypayments | 345 | 325 |
| 0 | Quarterlypayments | - | 80 |
| 4 | Quarterlypayments | 345 | 325 |
| 0Quarterly | Quarterlypayments | - | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4 | Quarterly payments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4Quarterly | Quarterly payments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4Quarterly | Quarterlypayments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 3 | Quarterlypayments | 255 | 325 |
| 4Quarterly | Quarterlypayments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4 | Quarterly payments | 345 | 325 |
| 4 | Quarterly payments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4 | Quarterlypayments | 345 | 325 |
| 4Quarterly | Quarterlypayments | 345 | 85 |
| 4 | Quarterlypayments | 345 | 85 |
| 4 | Quarterlypayments | 345 | - |
| 1 | Quarterly payments | 90 | - |
| 8,365 | 7,315 | ||
| Yearly | 230 | 220 | |
| Yearly Yearly Yearly |
230 230 - |
220 220 220 |
|
| Yearly | 230 | 220 | |
| Yearly | 230 | 220 | |
| Yearly | 230 | 220 | |
| Yearly | 230 | 220 | |
| Yearly | 230 | 220 | |
| Yearly | 230 | 220 | |
| Yearly | 230 | 220 |
Page 8
WILLIAM WELSH CAIRD SCIO
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIE 2025
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- GRANTS PAYABLE- continued
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|||||
|---|---|---|---|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|220|
|Yearly|230|-|
|Yearly|230|-|
|Yearly|230|-|
|5,520|4,840|
|Total|grants paid|13,885|12,155|
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- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 36 April 2025 nor for the year ended 30 April 2024.
- COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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||||
|---|---|---|
|Unrestricted|
|funds|
|£|
|INCOME|AND ENDOWMENTS FROM|
|Investment income|17,836|
|EXPENDITURE|ON|
|Raising|funds|7,A08|
|Charitable|activities|
|Grants|12,155|
|Donations|3,100|
|Other|5,532|
|Total|28,195|
|Net gains on|investments|42,960|
|NET INCOME|32,601|
|RECONCILIATION|OF FUNDS|
|Total funds brought forward|841,838|
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WILLIAM WELSH CAIRD SCIO
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025
rn
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued TOTAL FUNDS CARRIED FORWARD FUNDS CARRIED FORWARD FORWARD 8. FIXED ASSET INVESTMENTS
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|||
|---|---|
|Unrestricted|
|funds|
|£|
|TOTAL FUNDS CARRIED FORWARD FUNDS CARRIED FORWARD FORWARD|874,439|
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The charity's portfolio is held and managed by Evelyn Partners on behalf of the Trustees, and can be analysed as follows:
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Original|valueMarket at|— Additions/Purchases|Disposal|Gain/{loss on)|valueMarketat|
|cost|30/04/24|at cost|Proceeds|investments|30/04/25|
|£|£|£|£|£|£|
|Cash|deposits|15,365|15,365|76,279|(69,821)|-|21,823|
|UK|listed|equities|419,184|$03,929|8,541|(38,017)|13,023|487,476|
|European|unit|trusts|41,494|41,089|-|-|$14|41,903|
|Far East unit trusts|27,181|38,709|-|-|(274)|38,435|
|US|investments|49,121|57,903|13,270|-|(1,833)|69,340|
|Government|fixed|inc|123,074|120,242|14,002|(15,334)|(1,276)|117,634|
|Portfolio|total|675,419|777,237|112,092|(123,172)|10,454|776,61)|
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The UK listed investments consist of ordinary shares and unit trusts.
The gain on investments is analysed as follows:
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|||||
|---|---|---|---|
|£|
|Realised gain|on disposal|of investments|7,246|
|Unrealised|investment|gains|3,208|
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10,454
9, CREDITORS: AMOUNTS FALLENG DUE WITHIN ONE YEAR
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|||||||
|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Other creditors|1,920|1,800|
|10.|MOVEMENT IN FUNDS|
|Net|Transfers|
|movement|between|At|
|At|1/5/24|in|funds|funds|30/4/25|
|£|£|£|£|
|Unrestricted|funds|
|Revenue|account|97,202|413|3,835|101,450|
|Capital|account|777,237|3,209|(3,835)|776,611|
|874,439|3,622|-|878,061|
|TOTAL FUNDS|874,439|3,622|-|878,061|
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WILLIAM WELSH CAIRD SCIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025
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10, MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|Revenue|account|22,896|(29,729)|7,246|413|
|Capital|account|I|-|3,208|3,209|
|22,897|(29,729)|10,454|3,622|
|TOTAL FUNDS|22,897|(29,729)|10,454|3,622|
|Comparatives|for movement|in|funds|
|Net|Transfers|
|movement|between|At|
|At|1/5/23|in|funds|funds|30/4/24|
|£|£2|£|£|
|Unrestricted|funds|
|Revenue|account|105,491|51,067|(59,356)|97,202|
|Capital|account|736,347|(18,466)|59,356|777,237|
|841,838|32,601|-|874,439|
|TOTAL FUNDS|841,838|32,601|-|874,439|
|Comparative|net movement|in|funds,|included|in the|above|are|as|follows:|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|Revenue|account|17,837|(28,195)|61,425|51,067|
|Capital|account|qd)|-|(18,465)|(18,466)|
|17,836|(28,195)|42,960|32,601|
|TOTAL FUNDS|17,836|(28,195)|42,960|32,601|
|A current year|12 months|and prior year|12|months combined position|is as|follows:|
|Net|Transfers|
|movement|between|At|
|At|1/5/23|in funds|funds|30/4/25|
|£|£|£|£|
|Unrestricted|funds|
|Revenue|account|105,491|51,480|(55,521)|101,450|
|Capital|account|736,347|(15,257)|55,521|776,611|
|841,838|36,223|-|878,061|
|TOTAL FUNDS|841,838|36,223|-|878,061|
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WILLIAM WELSH CAIRD SCIO
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025
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- MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|Revenue|account|40,733|(57,924)|68,671|51,480|
|Capital|account|-|-|(15,257)|(15,257)|
|40,733|(57,924)|53,414|36,223|
|TOTAL FUNDS|40,733|(57,924)|53,414|36,223|
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11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2025.
12, ULTIMATE CONTROLLING PARTY
The charity is controlled by the Trustees.
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WILLIAM WELSH CAIRD SCIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025
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||||||
|---|---|---|---|---|
|eee|
|2025|2024|
|£|£|
|INCOME AND ENDOWMENTS|
|Investment|income|
|Income from investment portfolio|22,796|17,478|
|Interest|on cash deposits|101|358|
|22,897|17,836|
|Total|incoming resources|22,897|17,836|
|EXPENDITURE|
|Investment|management costs|
|Investment management fees|6,765|7,408|
|Charitable|activities|
|Charitable donations|3,200|3,100|
|Grants|to individuals|13,885|12,155|
|17,085|15,255|
|Other|
|Administration|and accommodation|3,839|3.732|
|Support|costs|
|Governance|costs|
|Accountancy|fees|2,040|1,800|
|Total|resources|expended|29,729|28,195|
|Net expenditure before gains and|losses|(6,832)|(10,359)|
|Realised|recognised|gains|and|losses|
|Realised gains/(losses) on fixed|asset|investments|7,246|61,425|
|Net income|414|51,066|
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This page does not form part of the statutory financial statements
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