THE GIBSON HOUSE ST ANDREWS SCIO REPORT AND AUDrrED CONSOLIDATED FINANCIAL sTATEMErs FOR THE YEAR ENDED 31 JANUARY 2025 SCOTllsH CHARITY NUMBER: SC050299
b@•Bs•f HOU T ANDREWS SCIO CONTENTS Tw$te•s' Afinu R•ri sithm•rt thbo5 io Charty stst•Mnt ol FlnwA kbviti•s Cowlklatod •r4 Sl••t 12 CtyMolkl8thd ar ¢h•thty It4i•m•nt of C••h FIL¥* 13 Nots$ to lh• kctsjr 14-23
THE GIBSON HOUSE ST ANDREWS SCK) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JANUAR Y 2025 The trustees have easUre in preseming their rekYI wrth the audthl financwl statements of the group and eharity lor th¢ yèar 6rKknJ 31 January 2025. Th¢ linala1 slatents havg W9par wth thg aclIn¢¥ set out in note 1 to the accounts and comply with th8 charty's consbtution. the Charrt18s Accounts (Scotlandl Regulations 2006 las amended) arn1 Accounting afj RepDrtiThJ by Charrties". Siatthnent of Roctrnmendod Praeiice applicablo to charit18$ preparina their accounts in accordarYA wth lh8 RewrtyThJ StsThJ8rd aOKatMe in the UK and Republic ol IrelaTrJ IFRS 1021. Otslgctlv and •¢¢lvltb•• lof publ1¢ b11¢ The principal pufpjse ol the charty 15 to provide ¢are wrvK85 for lh8 8thrty aTrJ to t10 with J(Kial, physvl and Olher needs. ¢harity lurth8r¥ rt3 PLWP)se ty thg Opgration ol a rgsbJ¢nlial ¢aro homg known as G89n Hou$9. Argyle Street, Sl Anorews whKh has 33 b&ts. Ro$id•nts.. Apwunts musi hav ba•n in fftt County of Filè havè Iw•d in Frf• lor noi Itss than fiv• yèars or b8 th8 husband or wil8 ol any such F•tson. Nav8s ol St Andrews or th• pansh•s of Si Andraws and St Lewids and the husband or wrfe of arry such alni are gN8n rwnty. The house has a rnixture of ros#1enls luThJed onbrety frcwm Iheff own means, those fuThknJ paY frorn thelr own means and partly by File Council a Ihose lunded by Frfo Counc4. The balar Is maintaino(J by the Irusites for the b•n•frt of the r•5bJ8nts the charty. y focussing on th¢ prwsion of 33 1)gds for Ilbxe in ed the trustegs rneel a ¢bar continuing need. The Irusitès work 10 •nsur• thai Gibson Housè Carè and aceefflnéation ol th• highest P055ib18 slandaid expected In tho 2111 coniury. The Irusiees th• trainirvJ aThJ dev•K)pm8ni of thoir staff and also implement rQM[tIQn9 Irom the Car8 Inspe¢¢orole and Insp¢)n w$its as yornpyy as possible. The tiustee5 also 588k lo rnanag8 lh8 ¢harty linaw ¢arolully $0 as lo Fyovhle s8¢urg bnq-lerm care lo th? r8$kkn of Gibson HJ$¥. maxiMrj b8MfiL Monltorlng •chl•v•m•ni The tiusiees moniiof Ihe wogress of thfrir athibes in varKYJS ways. An anTrU bUdVrO$1 is pr•pv•d and reyiewgd at Ihe quartgity rneelinos. The hnarKial pertormance ss Important lo Ihe tiustees who pay c105e atttniion 10 Ihè varAnct$ hvJhlighl•J in the r8P)rt5 Inrtiale wornpt action as required to ensure planned improveme$ are Imtyemoniod and a¢fv•rso varianc•s InTrrnsiigai&J and addressod. Tho Irusiees me6t with their Investm8nt Manager ai leasi annuajty. aThJ also Ihe p6rtormanco of inv8stmeThts èach quartèr. Thè Care Insporate makes plann8d and also vnannwro in5Wts" wsits aach yaar and prov0$ dotail r8Wrts on 811 aspects of the care provM1ed The%e r8PDrt8. are carplijlly con8idp.r8d and adinn to HddrfS$ any weaknesses taken. Thg loports aFygar on thg wetsilg ol the Care Insprat? ening residenls and th4 wid$r public to obiain infomiatKtin atJtyJl thè qualty of ear8 provhltid. Th8 tru5t8es dso acl on insFCth?n visits r8Ftyyts frC Frf8 Fire SeNce arJ are pro-activg In Jeeking othgr specialist r8lYJrt5 as they consthr nec855ary. The ChItabkn aciwty Invcfv85 issue5 to do with heallh and safety. employmenl law. Wb1 lbilIty aThY other matters. Whore rffjuirgd. thè tnjsiees obtain logal advicè from the Secretar$ an(1 )kn"ce mattws aTrJ Olher arw from appropriate experts as required. Frfe Council i8 a key partner in the tKovisK)n ol the charrtthe servKe wrth rnany a[On$ referred through the Council arKI payment lor many r85Klents coming from lh8 cou11. The trust88S 588k to rnaintain a productNe ¢JiakJguo with rèlèvant Courtrf Oftla15 to a5Stst wilh the smLMth Lyeratwjn ol Gib50n House.
THE GIBSON HOUSE ST ANDREWS SCIO TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 JANUAA Y2025 Training of statt is a pyiorty area for the trust8es who are committed both to supporting staff in obtaining qualiticalion5 and also kewnp up to dats with ¢Jevekprwts in the provision ol th8 car8. The trustees established Gibson Training and Care Limrtgd, Iheir wholty ¢ynod $ubsidsary. as part ol this commitment to trwniw and receNe quartwty rertS ¢)n thè comparry p8rtormarKg and delwery ot Sor0. $)rtS from Ih• Manager ol Ghkn House are kyesented to each quart•ty mtetiThJ ol Irust88s whKh provide lnlormatjn on all aspecis of reswJ&rrt care. changes in reskdents, $lalf pertormanco and mattors concorning the repair and urAeep ol lh8 txJikJiro. Tiusiees ot4ain ¢ar Inf¢xmab'on fvorn the Managef Irom they lake appropriate aetion a$ n88d8d. Flnanclal revlew In Iho ytrar on¢JeiJ 31 January 202S there w8$ In of £107.595 12024 - £4.4261 for the tharity only. Expenoiture on cnaritat4è athjwrties was L1.4YI,1(XJ 12024 - £1,347,083> and Investmoni managèment Costs of £23,847 12024 - fJ7,7921 wore Incurr. There was a gain on di8posal of the sale ol garden gTound at thè invesimonl propèrty In tho y¢aF of £116.492 12024 nill. The ¢($011atod stsiomant ol financial actNi118s on paoe 10 shows net Iwmo irtluth'w othor ga+ns and losses ol £143,56412024 . £41,095>. Th• eharty's work Is partty dendent on th& Ir¢ome from rts inv8Stm•nts. Twie• y88Hy report5 are 18C8lved from the charity invèstmeni advtsers setting out key lactors lo be ¢MsLler8LI and 014¢tIng1Vèl5 01 incorne and inveslrnenl manag8m8N chaigos. rhe strai8gy ol thè t1895 1$ to ld to awy all ttyecasi Income In wrsuit of Ihtr charita8 purFQ5e5 whi13t prole¢¢iThJ the wtal imiestod so as to prè58rv8 future inc9me le15 and so holp 10 sustain tho actsvty K8vd of tho thanty. D•t8ils of thè costs c4 Ih? ¢harrtat49 work are plthd th not• 6 to thè aecounts. Inv•tfflent pollcy and p•rfomwnce The constilution Is otherywse silenl on Invtynent Powers so thai the trust••s ar• suty't to statutory invo¥lment powers currentty Contain In th• CharitiOS and I$$bn?t IScotsarJl Act 2005. Th8 eharity Inveslrnenl adVIsS (Evelyn Partnorsl ale instructsd to structur• thè portfolio to produce both income and caprtal prOh %wth a ta5 towards The irwgsmoni tsrI is broadly defi'n&J. The tru$leg8 con8Jer Ihg Frformance of Ihe portlolkn th8 y8ar as 84itslactority ing thg Intm¢t oty8cJves. ITh order to spread risk as far as poss1# the tW5te8s own a property In Si Andrews which is rant out 10 generate Irwme. Prof1onal Itthrs are 6+Ydag8d to Insure th8 prcyerty mpetenY rnanaged lo m801 all al 0Jab0$ 5Ure all 18nls iKoivJkg. The Irustses afe sabsli8d %ilh thè rèturn cttain8d in the year. Fll#k mBnagem•nl Th8 trustees hav8 a fiqk managemerrt strategy ccrfryb•s.' a quart•rly r¥vi•w ot thg Pri1p1 ri$k¥ ar¥J uncwlwnt•s that th• eharty And itÈ Èub#hliary, Giho Tiaining an¢J Care Limrted. face". the eStalShmeTht of poIles, sysrems aThJ VoceIe$ m0#1 those li5k2 on an on9ng basis". an the implm8nlX)n of prct8dur8J d•irBd lo minlmise or manage any potoniial impact on thè charity should those risks mattsrrdliss. This work has the key vrath)n kS as arisry from hoalih and sal8ty, f&>J and g8ngral hygi9r. rife an(J care. These nsks aty managthy ty ensuriThJ accr•Jitatson Is up to tyate, robust pOlS aThJ wocedur85 aro in Ce, regular awareness training Is wovNJod lo statt working in Ihlse ar8a5. The Iruste8s consK1er the Varia1 ol invasthTrt retums from the wjrtfolw) to be a key finanoal risk. Thi5 risk is mitwJated by th8 aprK)Intm8nt ol expert PTofessionJ al$tr$ with con5id8rab18 exFfnce ln the charty sector. Taking w018s5nal ad¥e into consKJeraD"on the IruSe$ seek to maintain a diversrfied portfolio provKJing a predithable lev1 of Iwmo 10 Suskin the programrn8 01 charitable grants and sUprt for olwant activitios and seNKes. Another Ideniilied Imarla1 risk is to keep ihe horne as near to full capacity as wssible for a regular
THE GIBSON HOUSE ST ANDREWS SCIO TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY2025 flow ol incorne. Tha management team mtyate thi5 iisk by st1ng ¢0 IwAte and olfer potentral r•shlonts a placè il not al full capacty. A key elenI in the manage[rt ot finwKial mk $ a r8puL4r revk8w of wwiqL49 IKJuitl fuThYs lo Sett debts as they fJl due and actW8 rnanag8menl of trade debtors aThJ ctethtors balae5 to 8n5ur8 th8 availalx'lfy of suffKi8nt worknTho caprtal by Ihe charty and its 5ubsliary company. Am•r pollcy R8serves are nee lo brKlge the gap btriw88n lh8 arY receiving of irtomo and 10 cover periods of r8ducgd occupancy. unplanned emwgery repairs aThJ othw 8¥j11Ur0. Th8 trustees aim lo mainlaln free or liquid resorvo$ at a ve1 whh 8quaies to apwoximaiy Ihroe to six rnonlhs ol uni8Stricted normal ¢haritab expeTr¥ilure. A further amount 1$ consvJ&red nec855ary as a conbngoncy lo m801 thè cost of unlores88n repairj or maini8nance needed ai GIDsoTh HOUS8. At 31 January dUkS the afflnI ot Ireg or IKy reserves amount0¢ to £1,198.48912024- E919.0181 which moro than meets th• aLv aim. R•vl•w ol chle¥ements •nd pertOrM•r. How th• clwlty grant WQ9r•rnmg d•llv•r•d wjbllc n•ll1 •nd pl•ng lor the firtur• eh8rity is a la$tinq le$limony to tho gersty aJKI tharrtat4e ccwms ol the donor, William Gbgon. Tho trusto8s ar• committed to ersurwvJ Ihal Ihey sustain a signrfu)i ol suFwrt to alloviate the cOndn of the aged, $Kk aThY Inlirm wor of Ihe Crty of & knrews. aTrJ I Parishes ol St Andrews and Sl Llonards. The Trustoes ar• awar• ol thaTrJing a1 r•quiromlS 41 eonn8cts.on wlh lor those suffering from dementia. Our ènvironmènt can havg a huge irryei on th• r•sidenlS living with dern8nlia, som•iime5 people with defflenlia s80 the workj drfl•ronty. and everyday things wt be conlusiThg lor people demeniia. Th• us8 of eolour and eoThtr85t can Èe really helpful for peop wth dem8nlia 50 we try lo Ihin9S likg heavily pattwn811 wallpyr aTh1 lknts. We also pKlures raihw Ihan lor soma r#sh1énts wlh d•m8ntia as these te an excellent way ol heliyrYJ rasthnts wth derna Commun18. Good us• ol svanag8 will h•lp to OrntaI8 r8¥bJenl$ around the horne. Aeilwts ar¢ inwrtant to al our resJeNs •sp•tl our roshaents with demonlLq, an(J the main r•ason lor using actfvities is to craaie enjoyment kn tho resKJents a1 rt k88PS lh• rasidents oCcupd, stimulaied and improvgs qualty ol lile. When a resAJfrni is angag•J in an actmty they orne ftK)re alort and interested, this also èrKourage5 iThteFadion wilh othefs. 11 is also proven that aclNIts'es are uselul in hdping to preveni an¢Yor mlnimise ehallonging ihavh)ur. When a r8SKlenl is &Jm0 Inio Gib50n Hws8 we find out from eiiher themsefves or lamily memtrs whai aeiivitiethckn Ihgy had when al hcrn and our activits'88 programrne around the Inlormation we havè gathered. All our stsff are trained in demethia awareness. this is pgrt of Iheir lThyL10n pregrgrnrn•. this is then lollow8d wilh d8menlia Inlormed pract aTh1 %killt)d rYA(Mir. Wh Alrns In rtAP.n vJr$tandI9 ol thtr needs ol iThJIVuaIS wilh demenlk?. We al60 work aWsKle tho visthThJ psyclwatrsl, comfftunity psychiatr liaisM nurse and the adutt $UFWrt toam. The Irustees hav eonlinued lo wrsue Ihw goal ol &WOVKJiryJ 21 c•ntury aeeomm¢#Jation for Ihe resbjents can val0 on th6 progr8SS. For som8 year5 the trustees searched lor surtable tomwary accommc#J8tion into whrh the rosidenls and stalf could movo Whi Gibson House was renovated, but Ihis sèarch ha5 prov•J fruitSS. They therefore ext8nd8d their search lo seek ¢xJl land on thh a GtAon House cwkj be tAJilt or a tlkY13 whh could transforFn8d into a new ho. A new purFose-trill ¥Jents"a1 car• hoTh has slarted to be Ixjil in Ihe west ond of St Andrews and th8 trustees how tts have entry in June 2025 w*we the resthnts than be trartst8rr•J to the new site.
THE GIBSON HOUSE ST ANDREWS SCIO TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JANUAR Y2025 In th6 meanttme Gibson Hous8 r8rnairts Ihe horne of our resthnts aTKI the trust805 hav8 continued lo mainmin and Irrprove Gibson House ty a conbnuing prts3ramffle of renv81 aThl r8de¢orabon. There aFe many and variod actwitie5 organis8d tor and ty the re8i(lents and the statt Cthtinu8 to 8ure that GIts House teds like, and is. home to all of Ihem. rurfurtr. Governonce and Manog8ffwJnl The charity is a Scottish Charitable IncopjralI 0raani8ab", rned on 20 July 2020 and gov8rn8d by its Constitution. The 014inal charity. The Gosoll Mortthcath?n. St Alre$ was eslatAish8d by a Oiswsilion and Settlernenl th18d 21 January 1860 arKI rxorded in the B(s ol and S8$son on S November 1862. In his Will, Mi Gibson saKI that ho ont•rtairl a great regard tor the City ol St AlreS a% wish8d to incrèasè thè comforts and to $om8 extenl supFAy Ihe wants aThJ e&s$rt ol th8 ag8d, srk and Inliim poor ol the City ano Parisn 01 st Ar#réw5 by fouTrJmg and a nosMai or cnaN&w8 inStsli0n In bt Andr. Mr Gibson'5 Trust D8•J lisl•Y a number ol p80rl8 eilhw as iThYvbJuals or t4eau$8 of the office whh they hekl, to serve as Irustots. These 011e5 alk)w Iru$lee$ lo be tyrawn Irom thr8• Fif• CounCilr5. as suec8ssors to the Provost, Senior Baillk8, and Oean of Guiltl ol Iho town. three Church ol Scotland Ministers, ol Holy Trinity. Hope Path and St Loonar¢s Church8$ resp8ciNely. or any such Other persons who rnay b8 assumed as Iru$t&8s. In praciie8. th8 Iwsia•s eowt other F4oF4e to w)viJ8 ad¥re bLrt ¢J80"sions ar• made by th8 Irus199$ thernselve$. The tNstèè5 ar8 dedargd to Fwpetual gove¥$ arrtj manayts of Gthon House aTrJ are given power lo inct8as• or dimin15h the nurtel ol peo6 admitt1 into the )US&. Thè gov•inus and manager$ are laBked with iespon$itylity lor appointmg aThJ ov&rs••ng staff and r8gulabng thg and ct•thirvJ of th• r•sidonis. The trustees ar8 OMFr to aFpJint a factor or agont to asstst th•m aTrJ to pay prof•ssh)rwl fggs of such lactor or aoenl. The trusieos m8•t quartorly four trustees a quorum. The day 10 day adm1n15tratn and managgrnenl is delegatgd lo th• $4cr•tsiws and linarKial administralrys as a9erts, a1 lo Ihts managers in Gibson House. At thè quarterty meetings the Iruslees recewe ¢JeiwknJ iwrts Irom th8 5xr81arig$ aTrl Iinancial adminisiralor$ r•garding the adrninistralion and finarKe$, from Ihe house manag•r r•oarding thè r8shl8nts aThd from the traininq maThager$ re9ar(liry the traiThry aCtrt. The charity has procedurts for Ihè iTrJuction ol Intstees h¢h Comprise a tour ol Gibson Hou58, me81ing$ wrth tho aoents aThJ managers of &bson Hous•. a mt81iw wth existsr trustees and Issvo of an induction pack. During the Th8tings key matters as ¢JblKJab$ of Irusisas. finarKial and staffing issues a1 fulure plans and objective5 are discu$sgd. The inductK)n pack contains kEy dcmentS I1rI an outlino history ol th8 Charity. m05¢ recenl minutes and laresi annual finartial statements. charitab siatus ha5 been conlwrad by HM Aevenue & fJiJ%trxN4 prhvKling AX¥mpknn from Incom8 corkK•ration taxes on ehariiabl• 8ctwiti•s. Tradirva acbvilK8s wh are consKJ8r8d 10 b8 out with Ihe primary charrtabl8 purposes are ¢arried oth by a separa limited company, wholfy owned by the chaity. The charity does not operato any sub eommiti88s In¥lead trusiees diswss 1 ongoing aThJ strat8gK rnatt al their quarter rneefvrJs. In seeking to aFyMt trug9s the rekvant Slts reqwr•d gra carèlully consthred wrthin the 18rrn$ ol Ihe C$1. Rglate(I p•rtle• None cf the twstee5 FeCeiV8 r8rnuwation or other benefft Ihair work with the charity or its wholly own•Y subsidiary1$8o noi8 2 to the accoun151. Th8 charty's whoty owned sutAKJary. Training aTrJ Care tinwted. was established in 27 lo oparatè Irainiw sorvice5 lo those caring for lh8 gbjerty arkj to wovth care servic•s tha The SubSlary gfft aids any taxthe profit5 to th8 charrty.
THE GIBSON HOUSE ST ANDREWS SCIO TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 JANUAA Y 2025 Reference and admlnislrallvÈ informatio S8¢r•tsn"•8 and address ol •dmlnl¥tw•tlv• gffi Thofntons.Law LLP, Hous•. 33 Y•aman Sth. txnhe. DDI 4P Fln•nelal Adrnlnlatrnlor• HoThY0On 8la¢k & Co, Charter&Y AcMuntan18. Ch•str*ty Hous•, 149 Mathol Str•¢t, Sl KY16 9PF Audtors H8ndorson L91• LLP, Chartw&l IOUnt. 11.15 Thomo Strooc EOnt¥9h, EH2 1DF B8nk•rs H3nd8tstrt Riv•r C4)M, 5 Yltst tkxx Ao•d. Durth8. DD13Jr In¥eslThnt Evelyn Partneis. Thi¥d FKJoi Atro Tv4ry 148 Sl. Edthrgh EH3 8EX
THE GIBSON HOUSE ST ANDREWS SCIO TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED JI JANUARY a725 Tru8to8s' R•8ptrrwlbilltle8 In r•laIk to the fingncl41 BI•l•nIS Tha gro> and charrty t109$ aro rospon£ibb t(X FYOparing a ITU$100S' roport tiffianci ststomènts in accoidanc8 wilh aOi¢abkn law Urbit¢d Krydorn P4xwnting SlandaK16 (unit KiNJth)n Gewally coptod knounb.ng Pce}. The law g4ppklk to ¢harib•8 in laTh1 rwues Ihts group and charty trusteos lo prepure linrtnci&l slaterrnrrts lor each year ii¥e a trtse lair of the state of aN•rs of the proup charily fcx that peii(yJ. In preparing the linancd stat&ment5, th¢ IrJsl¢es are iequir¢d lo.. 8elKI sUitab19 ayxxJnlir¥J wloes arKI thgn fflpty ltrvn ccrt5t5tenUy,' 5rv8 Ihe tnellwjts and WIpIeS in the alCab c3[1[185 SORP IFRS1021- rnake ju¢Joetrnis and Oslimaies are reanab aThJ ft1. stale wh81h81 aFoab accounting sianoarc& ha¥@ tBn folknY8d. $¥bl8ci 10 m&r&l doparturas d'$¢los•d ar%# èxpkn'n8d In the fina1 sial8ment5, and 8par8 th8 Iinaroal statemtS cn Iho going concarn basis unss Il Is Inappropriat0 to presurn• thai the oroup and charity will ¢onbnu• In opgralion. Tho trust99s arg reyrsble for keopng propor aec•unbng rff•rds whth dsclese Mlh reasona0 aceuoty al any t'mo the financkil wsithon ot tho grwp Wid charrty ond to onabb thom to onsuro Ihal tho th'nan¢ial stBIenIS comply with Iho Chariiiey and Tiuslee IrNoslm8nl lsxlllandl Act 2Cb)5. the Chorth'eg Accounta (Sco0#) A•Julationa 2006 las amerte(tl anLI the PfoVLOnS of the charty Trust Deact. Thoy aro also le¥pJIb18 lry Jof•9uar('nq th• asJ ol the Lyoup charity aThJ lakry ieascnatk eps lor Ihe pieventvan and dettttion Ir&xl and othow wiegularths. The Irustg93 ¥• Iwn$t1• lor the main1wae and inl•Jrity cl the Eyoup cha[Y and linvla1 lnt1rmaln Inclu¢ed orn the charlty's wJsrte In ljanCe llh Wlaiion In tho Unlod Klngth)m oov•rrlno th8 paraT and dlsseminairjn ot IlnantLai siat8llWYS. st•M•M1 ol Dl•cio•uw• 10 Audltors In 50 lar as tho Irusiees are a%war8 at tynè ol awovYwJ oui uKt•ès' •rwyJ¥J rowrt.. Ih¢ro 48 no ffjlevant ffttormabon, bory Information rt0d by the th1Or in with preFemg their report. ol vthich the group s a)It i• wgwaro. and Ihe trustees. ha¥ry made wNuirie3 ol f•low tIUSte95 4TrJ th? qrwos audiloi that they oughl lo havg Indivknlly ttJ4en. have each taken all Sleps Ihal helth 15 10 tahe as a Iruslge In oidei lo th081¥e5 awar8 ol any ¥devant aud irthxmatxm arKI * 8siablL4h Ihal ts audrtor Is aware ol that In1Drmain. ppiovul Dy lh8 li19•S cn 6 Jlrn 2025 ar*1 sned bthal ty..
THE GIBSON HOUSE ST ANDREWS SCIO INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE GIBSON HOIISE ST ANDREWS SCIO FOR THE YEAR ENDED 31 JANUAR Y2025 Oplnlon We hav8 audit1 Ihg statemoffls of Tho Gibson Hol St Anthaws SCIO Ithg 'oroup arY rt$ subskliary'l lor the year endad 31 Janvary 2025 Wh ¢ompr¢e the consolKlaied and charity Siaiemenls ol finartial activrties. Consolated and chanty bala sheti. consclhlal&Y and charity statement ol ¢ashflow. and noies to the financial siatem8nts, IlUthJ svJr4frarn ¥o)uniing Kh)Icie$. The financwl reporting Irarn8work that has been 8PFAwl in bknr preparat)n i% apF4Kabkn law and United Kingdom Accounlirrtj Standards. Inc1j1n9 Financlaj RePIng SlaTrJard 102 The FinBnwl R6MA9 Stsnd•rd aotable th• UKand Republic ollrel8ThYIUnited Kingdom Generalty knepted Accounbng PraCe). In our opinion thè financial 5talemenls'. give a trne and lair view ol Ihe Stste of arb chrfy's affair5 as al 31 Janu)ry 2025, and ol its iOrnIng resources and ZFplicathJn of iesoufces fry Ihe year Ihen en¢Jed.. hav8 been prowty prepared in accwdance With Unit&J Kilyd Generally Aced AKwfflinq Piacie', aTra have t)een prepaled in acc(the wfth rwwornonts ol thg Chari'es arKI Twtee Inveslment (scottalI Acl 2(#)5 r•guL4ticffl 8 01 the Charibg8 N£counts Iscouandl Rogulalons 2006. Ba• lor oplnlon We condu¢te(J our 8udl In accordance Inlwnaiional Starthrds on Auditifig IUKI IISA5 IUKII aThJ applicable kw. Our r8SFonsts'lrties undgr those staThYards are turttwr d&scribgd In auditor responsibili1183 lor the audit ol the financial $laiem6nts seaK)F of tyJr report. We are independgnl ol the Chanty In ac¢or¢Janc• Ih th8 81hical r8quirem8nls thal aig 191gvanl lo ow audrt ol Ihe Inanc statemgnls in the UK, inclL4ing the FRC'S Elh81 Slandard. aTh1 we havo lulfiw our Qlhw ethical reS[•i111S in awordance wilh th&so rnquir$m8nts. We b81ieve that the audit ha¥e oblainod is suttriont and aFVOPrial8 lo provid¢ a basis lor our epinion. Conclujlons relallng lo golnq ¢on¢•m Iling the linancial siai8m8ni$, we have coKathd thal Ihg Iru$lo0s' u80 ol th8 going eort•m b18 01 ccounling in the wepaiaiion ol lh8 Iinancjd staiomwts is aFprowiate. 8ased on th• wcrfk we have F4rform, have nDI K1eThbfo any maierw r•lalng to eV8nl¥ or i.On$ Ihat, indivktu81ty or lleCt. may cast svJnrfunl thbl on th? chorsty's abllity lo conbNJe as a •m ltr a ol al ast months from Ihe tina181 siai•m•nis arè authorised for goi issue. re$pOnsIk•S and lh• ol Ihe wtth golng •r•dttery kn tho vanl 3e¢tlon$ of IhL8 rewt. lorrntk>n ei information eomws$8 ts inlormalkn Tru0$. r•pJrt. oth8r Ilwi the $lalemgnl$ and our audrtor's report there. The Irusi085 are reSp)nsia lor the olhgr inflymallon contained within Ihe Trusiees. rep)rt. csinion Ihe finala1 siatThnts do N)t eovèr thè trlher inforrnalion and we do not trxpress any to ol a5surarte Cus)n Ihgreon. Our r8¥)nsibilily is lo read Ihe olher informaiion aThJ, in ¢XJing so. eonJhY•r vknathw thg Qthgr Inforrnation Is materially inconsi8ienl wrlh Ihg sta18Thnts w gur knothae rAaine# in the courso of Iho audil or olhelwse appears lo be rnal?rb8 mBstaied. If we thnbty such material irKonsis18nc48s or apparenl malerial misslatements, we aro requir4d 10 deteTh th8lher th givos rvtse lo a Malert mlssiaiemont in the linala1 slalernents Ihemwfvgs. W. ba$ed the work wo have rtoad, we condu(k that there is a maleriaf misstaiomgnt ol this Otr inlormation, we are wired lo rop¥l Ihal Ixt. We have nothirrtJ to r8FQrt In lh regard. Mattws on whlch w4 ar• r•qulred to r•port by •x¢•ptk>n Wo have noihing to report in fespecl ol th8 Idbwing matters in 10 Ihe Chari•S Aeeount$ (Scolandl RegulalK>ns 2006 rgquires us to rop)rt 10 you rf. sn eojr otyniM'. thè inlormaiNJn gwen in Ihe finarwl ststernents 1$ I01$1 in any matèrial r05P8Ct Iwih the trustees. report., or Frfoper a¢thtia record5 have not been kepi; or the financial staiemenls are rnt in agr86meni ilh thè acttsjffling T•cords,' or we have not recwved all the infoatIOn explanati$ we uIre for ¢Juf auditi
THE GIBSON HOUSE ST ANDREWS SCIO INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE GIBSON HOUSE ST ANDREWS SCIO FOR THE YEAR ENDED 31 JANUAR Y 2025 RespOnbIlItIeS of Irusto•1 As explained mor8 fulty in the tnjstees, reskN1I8s statement set out on p•J& 6, the trustg8s are re$wngb lorlhe preparai)n ofth8 fina81 slatementsl¢h gNe a Inje and lair vie. andforsuch inlem control as the trustees deterniro i8 necessary10 enthe the wepgrath?n ot th'nala1 statements thai are Iree from maierial misstaiemeni. wheihw du8 to Ira or error. In prepariThJ the financial statements, Ihe trusiees aw rtsswtsthlor a558sww thegroup's alylty lo continue s a going cowrn. t1ithing. as rnallefs related io conwn a1 using the going concem ba515 01 accounting unless lh8 trustees eitr iffle 10 IUlate the charty or lo ¢ea$e owatsons, oi have no ealtstt aiiemaifv• trArt 10 (bj . Audltor r•sponglbllltkns for th• wdlt of th• flmnclal •tatarn•n¢• We have been appointed as alitOr under seciion 4411llcl ol Ihe Charili85 aTrJTN$to• Invg¥trwl (snl AGI 2005 arKJ reFQrt In accordznce wtth regULqtIor ma( unoer ihai ACL Our objectives lo obtain rea$able assura atr4xrt wheth8r the financial $lalem¢nls 8$ a w8 are Iree from malerial missiatemeni. %YhOlh8r due lo fraud or 8iror. and to i8sue an audiiorfs report thai includ8$ ourownh)n. Roasonablg assuran is a hKJhI6v6Sofassurae. bJl is notawaranl¢ethal an audh¢ondvcied In aordanCe I1 ISAS IUKI will aways detect a rnal?rial misslaieftwt wh6n it exists. Mi551aternenls can Afi58 Irom Iraud or wror and arconsKleied merial11, I11¥KlUlY or in th8 aggr8galo, thoy ¢oukl ieasonably b& 0xp•d to INMnCe Ihe dmions ol or3 lakon on th• basi5 of Ihe50 finala1 sla18mgnl$. Extent tts whl¢h lh• iudli ¢on•ld•y up•bl• ol d•t•ctlng Irrnguknrltl•#. Includlng fraud liregularitie$, IncludirvJ Ira1, are in$tsn¢es of wrth laws and rgguLqtion$. Wo d0$1gn pr(eilur$ in line wilh our resp)Thsibi1its. aVe, lo doiKI mat•rAI mis5tat8rn8nts in r8swI of irregularrties, including traud. The OnI ¢)ur are wblg of dth¢ts"nq Irr9ularrtl. including IraLK1. Is datas bdow.. As part ol our F48nning process.. Wè •wuiréd ol manag8Thnl the $ysterns arKI th• gy01 In Fkn, the argas ol the 'nancial stal8rnonl$ that are most susceptible10 th• riskof Irregu and traud, and whether Ihero WAS any known. suspetled or al¥ged frau(l. Mana9emenr inform•d us that there were no Insta8$ ol known, SUSle (M alleged IraL&I.. We obtainod an uTrJerstsnding ol the legal arJ wulatory tr¥anots aN4abl• 10 th• groLSP. Wg delerrnned Ihal Ihe lolfving were mo r8lthfant: Car• Ipector41 regulaltrJn8,' SOA slaNJards', GOPR." h•akh afKJ salety.. aTrJ emFtym8nl law.. We Consed the IntiVeS a1 OFPtr¢uniti88 Ihal extyt in the group. IlLAyIng the exieni el management tlas. whieh riastni a Folenlialtor irrtyulariis and fraud10 be 1ptraItd. and talbred our risk assessrnent acwrdiwty," and Using our knovAedg8 ol th8 dwty. Ic3ether h Ihe h•lJ with manmgernenl al th8 planning stage, w¢ lormed a colusl on th• ri%k of m¢5Stal8mgnl dug to irregularibes InCIlIng fraud and labrèd our pyocedures aCr 10 Ihis assossrnani. Th& Key kyocedures w• urthrtook 10 d8t8Ct irrewlanbgs IndTh9 traud dumg th• eoJrs• ol the aLKlil irKluded'. Inquiry of rnanagern8nl atwt any or suspethd Mistart•s of rKffl-DJmplSir with laws and regulations and liaud., Reviewing minutgs of toard and suCoMmit1ee meetings." Revievling n$tion rerh)rts Irom t1 Care lFectOrate in rglation the cafewovld8d. and the SOA in relaiion 10 Ihe training provhded by the sUbSl8ry', Chajlerrtjing assun¥Jlions and 1jgemerts rnade by men1 swjnffjcanl accwnliTvJ gStirnat95. in pariicular tixed ass8tdwwalA)n. investrw lair Val •Slinates ind[ invgstmgnl prcperty, bad debl kWOMs¥$. accwals". aTrJ Auditiffj th• risk of managernenl override of cijntroh. hth1iThJ thrwh testing joumd entries and other adjustments fN apwoKWten¢ss. lling lo the inherent limrfabons of •) aLpJit. ihore 15 Lma¥oatrA& tst sorr materlal mLssthtsments in the linaneial staternerrts may not te del1, even Ihowjh the awjit LS property planned and pwforrn8d in a¢coidan¢e with the ISAS IUKI. For insiarre. Ihe lurtIr rernovJ n¢(nrI7¢e is fr(n the evwis and
THE GIBSON HOUSE ST ANDREWS SCIO INDEPENDENT AUDITOR S REPORT TO THE TRUSTEES OF THE GIBSON House sr ANDREWS SCIO FOR THE YEAR ENDED 31 JAPIUAR Y2025 tran$a¢bon$ r•fleCt in the linancial srat•mgnts, lass W tho audiky is lo b¢me ol il or to reccgnise th• rK)n-e¢mpliaft¢•. A lurth•r dèseriplion d cr rosFOnSlrt1QS lov the audrt of the financid 31al•merts 1$ krAOd w the Financk R8porng CaLJrril'6 at htt s. hww.fic.oi nsts'lit. Trms dea¢rytson lorms part ol our audltorfs report. ol our r•port This report is mad• so18ty to the dwty'¥ tru•t•g8. as a body. wi aGG0rd¥ ilh flegukqlw 10 01 the Chaiilies CrlS (Scollandl Rwulaiions 2r£& Ouf aJdil has l)gen wLiiaken so we [gh1 slaT8 to the ¢hanty'S tru5toos those rnattws we ar& rwited Io Stale tyj Ilw ¢n an a11..0$ reron afftJ lor no Olhei puryw¢. To the ful exieni &rrnitled by law. do or assufve responsibliiy 10 anyone oih81 than the charity and fv Gharty's trusts as a t. loi our audrt trys iepon. oi lor Ihe wnSons we Henderson Loggle LLP Charterec tDnIants siaiul(wy kn1il Hondorson Logg LLP rf •¥git4• to *bXor In t•mis d s•clth 1212 ot ts Crynpan$ A¢t 2006. 10- 14 Whlorloo Ploc• Edlnburgh EH13EG 2025
THE GIBSON Trh)U5E 5T ANDIIEWSSCW) Fth9 TIIE YEARE14DEDJI JAMIARY202J Tq IAI7. 978 TW 1ST •a•Ji1 31 Al6lJ
T& iJi7thJ Al¥n ij
THE GIBSOM HOLLSE ST ANDREWS SCK) COMSOUDATED BALANCE SHEET AS A T31 JANUAR Y2025 Totsi T•tsl T•t•l lund• Chidty To fund• Group 2025 2024 Flx•d TIN)b l1&171 77&799 2.1W943 776.799 2.156,852 Y76,799 2,169 77e,T88 io Ipw•stTr7ni Inv•itrngrts 12 461.115 96.085 328.96D 3.296.7 J28 960 .76 DeL4or¥ ¢a al bthandln hand Totil ¢urTMI •• 22S.762 10.D27 )20.031 590,058 91.473 63.435 474249 542.067 Crqdlorn.. aTrJunts ¥Mlhin N•ieurrnrfthi••ts 55 3 078 009 3.708 572 UDrQal..ktodrever UDreilrKtod cBpoJ Kcouvt T•il¢hwylund• PI.7051 351 128.2421 9.704.3)1 (35.2511 3.8$1.958 4,181 3.704,221
THE GIBSON HOUSE ST AIlDRE SCIO CONSOUOATED AND CHARITY STATEMENTOF CASH FLOWS FOR THE YEAR ENDED 31 JANUAR Y2025 Tot•1 lundl Totsl ndB nd Pl•1 e41h yo¥ld•d by $3,776 66.765 9J1S 54.CQ6 9.3lS 14Z61 116.492 J.32S 132.53n 116.492 3,325 Pl4 from In¥•MIn& PuTchase ol ¥0Men Il•tu¥h prqvld•d bythv• •dl¥MI .678 95.579 34.801 96.109 ¢uh IB.4101 147.782 123.6511 tS9.981 520.031 372.249 474.245 314.814 C•h •nd •4ulv•lwrt• ¢wrt•d 1or•w 24 143.564 .198 175,97$1 {116,491 I35,) {155,n51 ta3135 41.09$ 32.873 159,46$1 107.$05 92.014 159.7151 (T6.0) 1116.4921 P5.6921 128.0361 N•1 rerkned19aJro1 (rnueueydecre4 In dobl( IW,6C 143.084 2025 C4thai i F*wi2024 J72349 474245 314.8B4 14r.nz 3.6511 159.381 C•th •131 thw¥y2tr25 450 594 13
THE GIBSON HOUSE ST ANDREWS SCIO NOTES TO THE Accouiirs FOR THE YEAR ENDED 31 JANUAA Y2025 41 Bo•lJ ol pwwrntlon andaswswl ol gohw ton¢¢rn The accounts Ilinartial siatementsl have been preparj undw tho his1or cost conwentlon wlth118m8 ognised ai c081 or trans8thn vakn8 Un othèTh•iso slalod in the reknvarn nolelsl to these accwnls. The linancial $iai8m8ni8 hav8 been in acwdaThx ith the Sialefflenl ol Recommend•J PractKe'. kcounbrrfj aThY A8wrtir¥J by Chath8 ¢vopariNJ fvir awunis in a¢¢ordance 1th the nancial AeFQrtiThJ StaTrJard a[wble in lh8 UK and R8FxJbr ol Irdand IFRS 1021 and Fina41 Aeporting siatmlard in the Unned Kinrn and Rewblk ol IrelaTrJ IFRS 1021 Charities Ac¢ounts (scolrlI l1ewlalH 20C6 las am8ThY•Jl. Thv charity Co¢1t•S a benefft eniity as d8fin•J ty FAS 102. The accounts are pr•paTed in Stsrfin9. Ih• IwGlkn•l ol ¥hwlly. TrhJ[wiY WIK111¥ In these •C¢Oltr ar• rwTrJ8d 10 the Iare £. Oolrw The iw518es Cr Ihai there ar8 Trj mat8ri&l ab)th tho group ehariV5 ablily lo eoniinu• as a goirMJ corrn hwry laiw W$ and manag9¢ dnIs. Tho m051 sbjnrfkart ar•as ot uwlalnty Ihai ellect the cairylw ol tho USOt8 tho ¢hartty affj the p•rtorman¢• ot InVlmOnt mathets 119hl c4 th• ¥c4aDty resuThj from th8 onooiffj •lle¢i ol unr6$1 8round Ihe and olr •0rNal fiors. P¥S ar? more ihan adwi8 10 cov•r any vnlorso events in Ihts in8tanco18a• th• investhwni wlky FWtormwKo aTrJ rlsk managem8ni on$ ol the t1088. annual r•wrt for moty Infomthknl. The Accounts cowlkl•i• It• ¢h•rty and ComnY.. Gb8(ffi TralIn9 and Caf Lkni18d. The iOrne ol the IiathrMJ PAthithary l• in¢kthJ k) th• CtywldatOLI Slalemonl ol Flnanclal es Ylthln hOr xtivmas. ExFThadur• Is in¢kthJ in Comwrual li•Jiry oF4ralon8 and IrNostrn8nl m8na9•m•rd eo•ts. cl Funds slnKtur• l ol Ihe charlty fund8 w• um8iried. lthr•sirki•Y cthnprf•• thoJ• bjnds th• InJ51e85 are Ilee 10 u8e I&T ary Frtwrw• of th• ¢h•rflthl•obJ8ct& dl I1)• r•co9nttlon All IrK¢ffle is recogned Ihe ha8 8ntJllem8nt 10 th• kKom•, tt thai th• I0 11 b• receiv$ and lh• arrwnl ol irK(Th rKeivab cn b8 m•8¢u3 ffjlilbty. DfvhJeTrJ8 aTrJ Olher Inlment IrMI 1$ r•¢ognwJ orts 11 has bogn dJar•a aThJ has n r8ceW. Th18 rlI w nOtiallOn ty the ¢h•rity inv8slm•nt adv188r ol th8 dfvhdend yl8kJ ot Ihe Irwesmeffl p)rffolo. Ini8f8s1 on fvrmJs h•kl on ¢Joposit ir¢k)J•J when aTrJ the 8mourn can b• measvi8d Felw ty the rarty.' Ihl& h norfflty thty inierosl or payebkg e bar ry Inv8stlWl Twr¥)veF 18ceW by Gibson Trainiw & C8r• Ltd r•wostnts ajrwnts receivab lor 88rvkos nei ol vat. IrKome earn•J under a varfety ol C¢[ratt$ rovorKo 1$ rectsJn15•a a6 earr on proV10n ol the seFvKe. Unpaid arrmjunts provthd ar• in¢kJd¢d in dBblors. Ol Expendllurn rneognMk)n Liabilili8s ar? recoonised •$ ow)fv• a• as Ih8ro kn a bjal w CMli owlbn commhtlng th8 9P 10 that expeThllur&. it i that Sotknent 41 r• aThJ lh8 amoum ot the ot4lpllon can measuied refhquy. t) IrrecoNw•bltr VAT IrwoveraNe VAT i% Chary WirvJ forfftk hwas IrlI•J. 14
THE GIBSON HOUSE ST ANDREWS SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDINO 31 JANUAR Y2025 (contInd) l. k¢olIng Polkl•s Icontlnu•d) gl Cost• ol rnl•fjng lur#ts The costs Ot generaiiTrJ bJThJ8COts of the fp)sts of the subsl@ry and Investment mana011¢0 h) eh•rftabl• aell¥ltb• Costs ot charilabkn acbviOB8 ¢omFw• costs Ot cpwaw Glbson Hr and govarnaw ¢o$ts 01 Shown in n018 6. 11 T•nglbl• Ilx•d ••••t••nd d•pr•¢l•iioh Ir1VidUal lix8d assfj15 cosiirvJ rrrt)fe than £1.C(#) are ai cost. Pro$ is mad& for treCia110 on all IwvJib lix1 asse. olher than krhy. al ral88 catulatsd orf th8 ctxl. $1 imai8d r8$hJual vahJ8, ol •a¢h •ssth its oxpocted Lffj•fvl lite. as Idlrs' H•Tii•Ne prowrty 2% strayhl Ilne Furnlluro, IbthThJ$ and •tyipiitht 10-33irtA stralghl Iln• Flnanclll In¥tNmW Flnontial Instrum15 ar• r•¢ty kn IIKI tharitys bath• sh881 the ¢Swlty becom88 p&tyto Ihe coniiactual wovisbns ol lh8 Irirum8ni. Bas •ssets Iwhk inclLth cash and bank aTra debtor baL8rta$l aThJ bas That1 lithliti¥$ incW8 uedrtorsl are Initialty mea8uF•J ai the amouni f8ceWK8 w payabl8 any transackn costs atN4 sub50quentty carried 41 amorti8ed cost us+ng the elltho inie81 ftwhod. B•$¢ iss•i&Iatllil, daswlNgd r•coivablelpayaNe within one >ai. we wgmorti8•J. Invoslmenis are a torm ol bask Itru1rM ar• r•¢rfnW •1 th•li tmnM¢iion valy• tynd sutAryu•nty mv45ured 41 r tair Va 98 al Ihe bala sh801 dai8 using Ihe ¢loslng marknl pri¢•. Tho S¢al8wl of finar¢1 Inckths thé galns aThJ loss on aluaibn aThJ thp)$4 IhrwaPthrt th•y•w. The charty acqulre w cobns, dethfaLW or ¢th¢r compX fin¥thl Instruments. For •thlc& reasons Ihe charftyOJ88 not in1 in I8¢¢0 oi •miwMr4 ComnI•S. IbWWtm•nt prop•rt• Invgslmnl property. 18 VOP•ty h•hJ J earn rnntalB lor cathl oFwlath)n. Is In1811¥ rKognis¢d ai ¢osi. irthjps tho purchase any dirth aiiiibJiabl8 axp8ThdilUIg. Subwuenity m¢¥sur¢d •1 l•ir al Iho r•rthing dai8. Tho 8urtyu8 or delrt on rovaluaiknn Is rn¢ in Ih• 818t¢mwt of fln4rwl acm. ffll R¥ll••d i•ln• •nd k•M• I gains aThJ losses aTfj loken the &•ifftnt of Fhar¢L91 98 Ih•y 8rfse. Reallsed galnq and losses on invesirnents ale catulaiod as tlllrAnrJl hANI(n th( A1 Anrf IhA op8nino cairwry values oi Iheir wichase vakje it a¢quiTod sub5ewent lo Ihe lirsi day ot Ihe Iinandal
ar. Uniealised gains and k)ssts ara c¥kxJlal¥d a5 the (Illerence beM8n the lair valu? ai the al eThJ and their caryryJ Vae. Realtsod unr•k••d irbve¥lrrnnl gard arKJ h)sM8 are combhed In Ihe Sta1 of Finar81 Aawthas. n) P•n•lon ¢Mi• •nd Olh•r po¥trf•llr•nwl b•rwllts The chaiity opeiale5 a defined contriJ1ln nSn scheme. Conirbjkn payaL4e to th¢ ¢haW$ r*nsion sthèm• arn ¢h•rg•d to tho stalfjmonlol finvtial xby1t$ kn Ihe wk#J 10 %thich Ih8y relate. 15
THE GIBSON HOUSE ST ANDREWS SCIO NOTES TO THE Accouiirs FOR THE YEAR ENLVIIG 31 JANUARY2025 (contlnu•dJ l. P¢¢tyJniino l¢wllwo ol L• RenlaLs payable opwabng 18aseB. erry 888 rttew, are charg•d 10 prolh or loss a straKJhl line tJa5i5 over the ot Ihe rfewani lease except where another more $ystsmatic basi% is r•pro5onlalNg ot fv Imno pattern in whKh tnoftts liom the ass81 ar•consunvJ. pl Judym kn pPO •¢¢Wnilng pollrl• •nd k•y •oUr¢ ol utlThtlon In Ihe aFplKaiion 01 the ¢anty's attni1j wl¢s. Iha TftJsi88s aro rwirl 10 mak• ILom•rfs, e5rirnai8s asSum0jns atYJl the caffymg afflrth of ass8is arn liatrj4il that aro nol read'ly •pparont Irom oltsr swrce5. The oslimafvs 9s80iai&J assumptions we based on hl$iodcal •xpOrrQ arJ ohr fxlLX• Ihal corhJBr•J lo be tham. IUal iewtys may dlllw Irom th¢4¢ estimatès. •parfry th•s• finr slateThnt8. theTrusto88 havo m•J8 Ihe fdklThJlWm•n¢•'. Tangib 8888ts are dw8claa over a rArtoJ io wll•¢t thoir •slmaiod u5dul I05. Tho aFplkat4"1ty Ot the aSsWned1os annlty. tal¥j into •¢¢ounl tac1¢rt5 such thy5ical condthw. maintenance aTrl C1¢. T8n9lt4e fixed 8s8ets are a180 a88e85•J as to whel1 that aro I•$ of Impalm•ni. Th s•Mm•ni ¢¢x•kJwaikn ol the Ocowk of tho pwpJ•e for whth tho Invastm8nt kVOP•rty b M•r1d •t talrv4hJo al yoar ba5•J on an 051imaik)n byThointsn8 Law usSrq thwr ¢xwrion¢• •nd inltym•kn r•labng 10 th• rrent martets and the fental achieved. Trade d¢biors ¥rv rewLgth, and kn parlh%lar ai the pgr eThY. lor weniial bèd d8tJts and prov15ions e5Irnaled bas•J Ihe lthelihrK#J ol those deblors repaying the aMniS due. k¢ru&s are aWk8d ai th• yw 0Th1 b&88d kntr} o)Sty fKw•d yow th• expOrK8• ol manag8WI. 2. A•l•l•d •nd Irii•tw•' •Jtp•nw• •thd r•murnr•tlon The In100$ re pawj. nor rnceived any other téntrlits fr¢m employm•ni wnh tho ¢harlly or ns Subskyry In Iho yeai 12WL4.rO1. Ther ware they F8lmtyJrs8d expenses during th8 year12024. nDnol. No thirty truste• r#¥j Pa IN wofwonwl crf Olhw 10 th• ¢harfly (2024.nornl. The value ol the Tk done by tr118es th gMrJ of Ihr tor nbr#Ji Iré oth•r matt•rs on b•h•ll ol the chadty is Trjl K98d in th8 acc4unrs a$ tt e¥nnot b? ¢NJ•nOfd trusi¢s are M•Mt ol Fl• CtyJr*SI. transl)n1 Fhe Cro1 ar• on an amslowh bw. C4mrn•rc1 IrAn#•ctont Ihp •ub8kJ&ry Tr1 and Car• Ltti 4r• on 4rns Klngth Gro Gro Ch•tlty Ch•ttty Pth)ini$irob)n arn1 18
THE GIBSON HOUSE ST ANDREWS SCIO NOTES TO THE AccouTrirs FOR ThTE YEAR ENDING 31 JANUARY2025{ntlnd) 4. Kom• Group Chwlty 10,025 43,751 11,764 55.001 9.315 76.080 10.275 43.751 5.689 Flents frcffi WOFffj Interest on 5S.IYJ1 Group Grwp Chwhy Sutsk11ary OWrnllNJ ¢0 In¥tment proF•rty repwF5 WKJ uk InsurwA of Invoslrrenl Faclorlng ol eSUn0nt kyopwry Inv8svn8nt managoi 1•8s Sacretarbal f••$ 8W.615 9.831 IA7.721 24.273 1.014 9,831 24,273 1.014 8.9 3.936 5.157 5.157 23.220 Qfow> Cb•Ttty Chrlty 51all cwis PmFWty upk••p OlGIL Hf SuOi85 and $8thcoy ol Glt*on Pl Other costs of Gbson H 08Pi8clalh)n Seeretttdal 4r prof•Ukn f••1 Piolessional lees Audll l••$ 1.048.407 218.040 106,489 17,498 925,481 185.382 107,462 17,821 32,014 31.2 ¥J.974 1,048,407 216.040 106.489 17.498 925.481 185,382 107.462 17.821 32.014 31,200 J.974 31.770 31,770 22.168 16.380 IT.-R 7. SLWrf Gwt• Gr<>up Qroup 2024 CrmY 2trJ$ Cb•rlly S8cFeMrfal aTrJ final &JmlftlfyiJa Pmltrs$thal I Audit IM• S4,990 22,169 16,380 93.538 54,000 30,974 30.974 16.749 101723 16.360 91.690 101 723 17
THE GIBSON HOUSE ST ANDREWS SCIO NOTES TO THE ACCOUltrs FOR THE YEAR ENDING 31 JANUARY2025 (¢onllnu8d) si•ff ¢0• Gn> harbty Ctsdty 1,634.710 1.$05.&J9 106.&33 89.151 21,871 22,t34 19, 23,310 12,894 11227 1 795611 951,470 06.894 17.349 847.801 52,905 13.548 P•nsion costs Ststs travel Ao8rKy omr 12,694 1.048.407 1 92S. Tl &¥•iw nKMiUly Lawat •rwJ ¥i•ffj tho yow a8 follw.. 2025 1mb•1
J24 Numb•r Charty. Car? of reskl8nts Sthklary. Trnining and Car• 45 51 46 47 No 80>0 had •mWo>o bon•fity In 01 £60.tXXl12024.Th)n•l. Th• k•y man•oom•ni p•F50nr of lh• parent (•wty. the SCIO. comw•s th• tryw•w, th• m8nag•r and A1$nI m•nrforn. The lo¢& •mpkJye• bw•fftJ ol th• key management p•rsty)n•l ol th• chaty £109,67112024- £120,6351. Th• k•y mwwgorn•ni p•r80MW ol tho gro Ilv• 01 PKIO ar manwovm•ni personn 0¢ hs ¢)wn•d wbsKIry T[nIng and Care Limw. The kéy man89om•ni r8onn ol Gibson Tf•inw aryl Care Limw are Ihe H8a¢ts ol Conira fft0so b•n•fill 10ial £83.91712024 . r78,Wl. Th• •nWryrn b8rnfft¥ of for tho gnjup wa8 Ihw•lor• £IJ3.58B12024. £198,858).
THE GIBSON HOUSE ST ANDREWS SCIO NOTES TO THE ACCOUPs FOR THE YEAR ENDING 31 JANUARY2tr25 (conllnuodj Trylblo fix•d Hwltsb Fumhur• & Fltilngj Toi•l Group Co¥t or v•bJ•tkn: At l February 2024 Athjiions In > Al 31 January 2025 2.250.1 217.084 426 217510 2.467,lJ84 426 2467510 D•w•¢Wbn: Ai 1 Fetyuary 2024 cha lor lh• > Ai 31 January 2025 189.141 4.198 193 339 278,141 116.C¥]O eook V•lu• A¢ 31 J21)23 2 158 171 At 31 Janry >J24 2 1.943 Fumllur• & Fltllng• Tol•l Cost of ltIOn. Al l February 2024 fvAJJttk)n# in year Al 31 January 2025 2,250,(>XI .764 2,458,784 Al l FebTUary 2W24 haiy lor Ihe I••F Al 31 Janu•ry 2025 87.0 182,W 269,564 116.000 185,912 301,912 N•1 8<>ok V•lu• 31 Januaiy 2025 2.134.CK#) 22.852 At 31 Jawry 2tr24 The at¥J¥8 herfiablo prcwty comk¥iS¢$ G)son House. St wa luod 81 January 20V by J&E shepherd. Chart•rnd SuThwr8, frlO rfvni ba51 In Ihe oplnlon cl the Iru$1105 IhkB refiects lls wa ai the year eThJ. Th8 v&hJ4kn IrKk•J•s iirK141 £5,(Kl. The hisknrkal cosi c4tr kNop•rtyis ur*rnwn. 19
THE 018SON HOUSE ST ANDREWS SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 JANUARY2025 (contlnued) T•wJlbkn fth•d aM•t8 &Fttt T¢>t•l At l Febnmry 2023 A¢llllon8 in yaat At31 Jrry 2024 2250,(K4) 211,348 2,461.346 At 1 Fotxuary >Y23 Charge lor iho aT Al 31 J•nuwy 2tr24 18526B 243,268 189 141 276 141 14•1 Book V•hJ• At 31 January2024 Aiai JIThry>)28 Htabl• Furnllvr• &FW• T0ts1 Al 1 F•bruary 20¥J 2.E4).(KA) 204.025 4.739 2.454,025 At 31 January2024 D•y•cthtkn: At l Febwary 20rJ Crge loi lh• y•ar At 31 JanLry 2024 179. 237.SXI 87.1(¢J N•t aook A131 January %)24 20 2CQ 2 189 ily) AI 31 2023 2 216 475
THE GIBSON HOUSE ST ANDREWS SCIO NOTES TO THE ACCOUNTS FOR THE YEAR ENDIPIG 31 JAP4UARY2tr25(¢onllnu•d) 2024 V•ly•tkn: At $tart of yw 718,799 750.IY)O At yearen n6.799 776 tha yoar •A w ol g•nkn wqs aohj al the kNoBimwtt swcperty. The Iru$too$ Wl Elr¥ IYd¥ l¥ nD Irwi1&1 ¥0 of lh• wot•Fty trom tnis 8alo as Sh In Ihglr ¥Aowth? v•lu81kn oft 11 M&y 2022 r•main$ arvopriats at 31 January 2025. Sh•r• 31 JaNwry 2CQ4 8Th131 JanLW 2W25 Th• vknolty I78d trading Gtwn TralnlrJ ¢•r• In#)rated In Scoland l¢ompany numt•r 9316) WKI rts xa0 yofftB KI the Crfty Ut>Jw its gift ty1 ¢m•, Turth)sw C1 ot 8ales and •hlnknaikn Intsr88t payab Taxaiknn Prolh ftht 916.686 (8722071 11041 1858M571 12501 The 888•ts aTrJ lat11 otts $thhJ•ryw•: 1,318 195,411 Ily2$4} 1.742 78.991 1112.827) 331 Curwni ¥sg•ts Current liaknlilkrys Pros7OnS foi ILqb41 Total not
GIBSON MORTIHCATION, ST ANOREWS NOTES TO THE FINANCIAL STATEMEp¥fs ICOPrnMUED} FOR THE YEAR ENDING 31 JANUARY2025 (contInd) 11 InvestntI- p0110 ol InlMents 2025 In Ilx•d •wt Il•t•d Markel value iyowhl lorward ai i FO 2024 Additions io Invesmenis aicost DisposaLs ai caiwThJ value Nei 98inlllossl on rthfaluai ma8¢ vu8 as ai 31 Jarvjary W25 328.96Q 327.822 99.788 61,8r 12.2331 167,7561 34.600 7,288 461.115 The historical CO inv8sDn8nts 8131 Jarrtry 202588 É381,WO12024 E285,1941. lnv•tnts at l•lrv•h¢Myl••d: Fixod Iwt Equii Atternas• Totsl S9,957 324.529 SO.368 222.195 461.115 Al Inv••bMm• •rn ¢athJ 41 trr l•w vahx. Irvnsknonts we traded at bha for Invo8tmenl lund$ 4ThJ unft Irustr or $l¢Yk 0xch¥ny mwk•i fv. Th• bgsls of Iglr vabe Is equ91&nI to mgrkel ¥ae uslrvj pr tradad malkèi Fm$. Assot s•1•$ pur¢h•sos ar• r•cognis•d al tho dal• ot Irgde at Ilhai 18 thr transaciton va1. Th Iw$iws Inv•stm•nts ov•r 10% 01 lh• )rtld b8 male1. M SIng inv88im8m oAcoB8 ol Ihffj. Th• $tyJnrfkance ot Ilnancial inlnents lo tho orwiry lha91 w8nabl ol IM charfty Lg nslY•i•d in tho fiMn¢al rovw in¥estm•rn F4Jly sKOon8 of the tru8te88' annual rewrt. Tho rnn rk the charfty IM nar9$ In8inJmwrs Ilw In lh• Com1 ot un¢ortalfi Imsbn•ni markets aTrY wolaty In Y. Numer laor$ I111j ¢Wanirfa1l •x¢haffj• rw Ind )rbJ wkle taucws char4Je ovw time Comde In matheis. risk is anlwal•J to t• as all a5s•ts are tra¢ In mathths 9j li(pJK11ty antt hvJh trad1r volvm•5 Tr chty has Tr) rnatOr in¥8sm8nts in mathots subpct 10 8xchawe coniloh or Irading iL5)n¥. Th• ehwlty m8n•gos thot• inv•simont by ret4hrMJ expen th8er8 aThJ op8raiin9 gn Inve8im8nl ky thai provid95 lor 4 h4h thgree ol dficaT ol hohdlrqs lthin assth cla8se8. Th8 charlty (kn8 not m&%e us• ol 09rNal¢S simll•r ¢tynpkx in51Nfflonts as11 tak8s tho eW thai invonwnts oty h¢kl for Ihthr kM¥Jer i•fft yiokl return hl0r hwve lThyal8d Ihal voL41111ty In any partkuLgr Ie *lll normalty b8 ¢wKt•d.
THE GIBSON HOUSE ST AMDREWS SCIO NOTES TO THE Accouiirs FOR THE YEAR ENDING 31 JANUAA Y2025 {Mntlni*d) ChrKy Chrlly 180.519 45243 54235 15,792 75.735 15,n8 24,YJ3 12,319 Otr debtys trf8paym8n 14. Cr•dMorn yy4bl•TNtthln on• y•w Ch•rhy 36.667 25,IS6 25271 34234 18,340 20.179 12,421 T8xalon aTrJ scK4al s•wrlty Dolwred irKo 97.979 142.871 IJ. Fln•nd•l ¢oftwniim•nt• Group Ch•rhy Wthln ¢)n8 y••r 4,119 4,119 13 2.075 2.075