THE GIBSON HOUSE ST ANDREWS SCIO
REPORT AND AUDrrED CONSOLIDATED FINANCIAL
sTATEME￿rs
FOR THE YEAR ENDED 31 JANUARY 2025
SCOTllsH CHARITY NUMBER: SC050299

b@•Bs•f
HOU
T ANDREWS SCIO
CONTENTS
Tw$te•s' Afinu￿ R•r*i
sithm•rt thbo5
io
Charty stst•Mnt ol FlnwA kbviti•s
Cowlklatod ￿•r￿4 Sl••t
12
CtyMolkl8thd ar￿ ¢h•thty It4i•m•nt of C••h FIL¥**
13
Nots$ 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 rek*YI wrth the audthl financwl statements of the group
and eharity lor th¢ yèar 6rKknJ 31 January 2025.
Th¢ lina￿la1 slate￿nts havg W9par￿ wth thg ac￿lIn¢￿¥ 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 a￿fj 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¢ b￿11¢
The principal pufpjse ol the charty 15 to provide ¢are wrvK85 for lh8 8thrty aTrJ to t1￿0 with J(Kial, physvl
and Olher needs.
¢harity lurth8r¥ rt3 PLWP)se ty thg Opgration ol a rgsbJ¢nlial ¢aro homg known as G￿89n 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. Na*v8s ol St Andrews or th• pansh•s of Si Andraws and St
Lewids and the husband or wrfe of arry such a￿l￿ni are gN8n rwnty.
The house has a rnixture of ros#1enls luThJed onbrety frcwm Iheff own means, those fuThknJ pa￿Y 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 aceeffln*éation ol th• highest P055ib18 slandaid
expected In tho 2111 coniury. The Irusiees th• trainirvJ aThJ dev•K)pm8ni of thoir staff and also
implement r￿QM￿￿[￿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 H￿J$¥. maxiM￿r￿j b8MfiL
Monltorlng •chl•v•m•ni
The tiusiees moniiof Ihe wogress of thfrir athibes in varKYJS ways. An anTrU￿ bUd￿VrO￿$1 is pr•pv•d and
reyiewgd at Ihe quartgity rneelinos. The hnarKial pertormance ss Important lo Ihe tiustees who pay c105e
atttniion 10 Ihè varAnct$ 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 Insp￿￿orate makes plann8d and also vnannwr￿o in5Wts"￿ wsits aach yaar and prov￿0$ dotail
r8Wrts on 811 aspects of the care provM1ed The%e r8PDrt8. are carplijlly con8idp.r8d and adinn to Hddrf*S$
any weaknesses taken. Thg loports aFygar on thg wetsilg ol the Care Insp￿￿rat? en*ing residenls and
th4 wid$r public to obiain infomiatKtin atJtyJl thè qualty of ear8 provhltid.
Th8 tru5t8es dso acl on insF*Cth?n visits r8Ftyyts frC￿ Frf8 Fire SeNce ar*J are pro-activg In Jeeking othgr
specialist r8lYJrt5 as they consthr nec855ary. The Ch￿Itabkn aciwty Invcfv85 issue5 to do with heallh and
safety. employmenl law. Wb1￿ l￿bilIty aThY other matters. Whore rffjuirgd. thè tnjsiees obtain logal advicè from
the Secretar￿$ 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 cou￿11. The trust88S 588k to rnaintain a productNe
¢JiakJguo with rèlèvant Courtrf Oft￿la15 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 ¢y*nod $ubsidsary. as part ol this commitment to
trwniw and receNe quartwty re￿rtS ¢)n thè comparry p8rtormarKg and delwery ot Sor￿0.
￿$￿)rtS from Ih• Manager ol Ghkn House are kyesented to each quart•ty mtetiThJ ol Irust88s whKh provide
lnlormat￿jn 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 ¢(￿$011￿atod stsiomant ol financial actNi118s on
paoe 10 shows net Iwmo irtluth'w othor ga+ns and losses ol £143,56412024 . £41,095>.
Th• eharty's work Is partty de￿ndent on th& Ir¢ome from rts inv8Stm•nts. Twie• y88Hy report5 are 18C8lved
from the charity invèstmeni advtsers setting out key lactors lo be ¢MsLler8LI and ￿014¢tIng1￿Vèl5 01 incorne and
inveslrnenl manag8m8N chaigos. rhe strai8gy ol thè t￿￿1895 1$ to l￿d￿ to awy all ttyecasi Income In
wrsuit of Ihtr charita￿8 purFQ5e5 whi13t prole¢¢iThJ the wtal imiestod so as to prè58rv8 future inc9me le￿15
and so holp 10 sustain tho actsvty K8vd of tho thanty.
D•t8ils of thè costs c4 Ih? ¢harrtat49 work are pl￿thd th not• 6 to thè aecounts.
Inv•*tfflent pollcy and p•rfomwnce
The constilution Is otherywse silenl on Inv￿tynent Powers so thai the trust••s ar• suty'*t to statutory invo¥lment
powers currentty Contain￿ In th• CharitiOS and I￿$$bn?￿t IScotsar*Jl Act 2005.
Th8 eharity Inveslrnenl adVIs￿S (Evelyn Partnorsl ale instructsd to structur• thè portfolio to produce both
income and caprtal prO￿h %wth a t*a5 towards The irwgsmoni tsrI￿ is broadly defi'n&J. The tru$leg8
con8*Jer Ihg F*rformance of Ihe portlolkn th8 y8ar as 84itslactority ￿￿ing thg In￿tm¢￿t oty8cJves.
ITh order to spread risk as far as poss￿1# the tW5te8s own a property In Si Andrews which is rant￿ out 10
generate Irwme. Prof￿1onal Itthrs are 6+Ydag8d to Insure th8 prcyerty ￿mpeten￿Y rnanaged lo m801 all
al 0￿￿Jab0￿$ 5￿Ure all 18nls iKoiv*Jkg. 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 Pri￿1p￿1 ri$k¥ ar¥J uncwlwnt•s that th• eharty And itÈ Èub#hliary, Giho
Tiaining an¢J Care Limrted. face".
the eSta￿lShmeTht of poI￿les, sysrems aThJ Voce￿Ie$ m￿0#1￿ those li5k2 on an on9￿ng basis". an
the impl*m8n￿lX)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 pOl￿￿S aThJ wocedur85
aro in ￿￿Ce, regular awareness training Is wovNJod lo statt working in Ihlse ar8a5.
The Iruste8s consK1er the Varia￿1￿ ol invasth￿Trt retums from the wjrtfolw) to be a key finanoal risk. Thi5 risk is
mitwJated by th8 aprK)Intm8nt ol expert PTofessionJ a￿l$tr$ with con5id8rab18 exF*f￿nce ln the charty sector.
Taking w018s5￿nal ad¥￿e into consKJeraD"on the IruS￿e$ seek to maintain a diversrfied portfolio provKJing a
predithable lev*1 of Iwmo 10 Suskin the programrn8 01 charitable grants and sUp￿rt for olwant activitios and
seNKes. Another Ideniilied Imar￿la1 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 st￿1ng ¢0 IwAte and olfer potentral r•shlonts a placè
il not al full capacty.
A key ele￿nI in the manage[r￿￿t 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 bala￿e5 to 8n5ur8 th8 availalx'lfy of
suffKi8nt worknTho caprtal by Ihe charty and its 5ubs*liary company.
Am•r￿ pollcy
R8serves are ne￿e￿ lo brKlge the gap btriw88n lh8 ar*Y 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 wh￿h 8quaies to apwoximai*y 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 affl￿nI ot Ireg or I￿￿Ky reserves amount0¢ to
£1,198.48912024- E919.0181 which moro than meets th• aL￿v￿ 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 ger￿sty 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 cOnd￿￿n of
the aged, $Kk aThY Inlirm wor of Ihe Crty of & knrews. aTrJ I￿ Parishes ol St Andrews and Sl Llonards.
The Trustoes ar• awar• ol thaTrJing a￿1 r•quirom￿lS 41 eonn8cts.on wlh lor those
suffering from dementia. Our ènvironmènt can havg a huge irryei on th• r•sidenlS living with dern8nlia,
som•iime5 people with defflenlia s80 the workj drfl•ronty. and everyday things wt be conlusiThg lor people
demeniia. Th• us8 of eolour and eoThtr85t can Èe really helpful for peop￿ wth dem8nlia 50 we try lo Ihin9S
likg heavily pattwn811 wallpyr aTh1 lknts. We also pKlures raihw Ihan lor soma r#sh1énts wlh
d•m8ntia as these te an excellent way ol heliyrYJ rasthnts wth dern￿a Commun￿￿18. Good us• ol
svanag8 will h•lp to Or￿ntaI8 r8¥bJenl$ around the horne.
Aeilwt￿s ar¢ inwrtant to al our res*JeNs •sp•t￿l￿ our roshaents with demonlLq, an(J the main r•ason lor
using actfvities is to craaie enjoyment kn tho resKJents a￿1 rt k88PS lh• rasidents oCcup￿d, 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 i*havh)ur. When a r8SKlenl is &Jm￿0￿ Inio Gib50n Hws8 we find out from eiiher
themsefves or lamily memt*rs 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 lThyL￿10n pregrgrnrn•. this is then lollow8d
wilh d8menlia Inlormed pract￿ aTh1 %killt)d rYA(Mir.* Wh￿ Alrns In rtAP.￿n v￿J￿r$tandI￿9 ol thtr needs ol
iThJIV￿uaIS 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 v￿al0 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 fruit￿SS. They therefore
ext8nd8d their search lo seek ¢xJl land on ￿th￿h a GtAon House cwkj be tAJilt or a t￿lkY1￿3 wh￿h could
transforFn8d into a new ho￿.
A new purFose-t*rill ￿¥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 renv*81 aThl r8de¢orabon. There aFe many and variod
actwitie5 organis8d tor and ty the re8i(lents and the statt Cthtinu8 to 8￿ure that GIts￿ House teds like, and is.
home to all of Ihem.
rurfurtr. Governonce and Manog8ffwJnl
The charity is a Scottish Charitable Incopjral￿I 0raani8ab"￿, ￿rned on 20 July 2020 and gov8rn8d by its
Constitution. The 014inal charity. The Gosoll Mortthcath?n. St A￿lre￿$ 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•rtair*l a great regard tor the City ol St A￿lre*S 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 inSts￿li0n In bt Andr￿￿.
Mr Gibson'5 Trust D8•J lisl•Y a number ol p80rl8 eilhw as iThYvbJuals or t4eau$8 of the office wh￿h they hekl,
to serve as Irustots. These 011￿e5 alk)w Iru$lee$ lo be tyrawn Irom thr8• Fif• CounCil￿r5. 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 peo￿6 admitt￿1 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 OMF￿*r￿ 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 adm1n15trat￿n and managgrnenl
is delegatgd lo th• $4cr•tsiws and linarKial administralrys as a9erts, a￿1 lo Ihts managers in Gibson House. At
thè quarterty meetings the Iruslees recewe ¢JeiwknJ iwrts Irom th8 5xr81arig$ 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 aCt￿rt￿.
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 a￿1 fulure plans
and objective5 are discu$sgd. The inductK)n pack contains kEy dc￿mentS I￿￿￿1r*I an outlino history ol th8
Charity. m05¢ recenl minutes and laresi annual finartial statements.
charitab￿ siatus ha5 been conlwrad by HM Aevenue & fJiJ%trxN4 prhvKling AX¥*mpknn from Incom8
corkK•ration taxes on ehariiabl• 8ctwiti•s. Tradirva acbvilK8s wh￿￿ are consKJ8r8d 10 b8 out with Ihe primary
charrtabl8 purposes are ¢arried oth by a separ*a limited company, wholfy owned by the chaity.
The charity does not operato any sub eommiti88s In¥lead trusiees diswss *1 ongoing aThJ strat8gK rnatt
al their quarter￿ rneefvr*Js. In seeking to aFyMt tru*g9s the rekvant S￿lts reqwr•d gra carèlully
consthred wrthin the 18rrn$ 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 2￿7 lo oparatè
Irainiw sorvice5 lo those caring for lh8 gbjerty arkj to wovth care servic•s ￿ tha The SubS￿lary 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•
HoThY0￿On 8la¢k & Co, Charter&Y AcMuntan18. Ch•str*ty Hous•, 149 Mathol Str•¢t, Sl KY16 9PF
Audtors
H8ndorson L￿91• LLP, Chartw&l I￿OUnt￿￿. 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 t￿109$ 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 P￿ce}.
The law g4ppk￿lk* to ¢harib•8 in ￿laTh1 rwu*es 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,'
5*rv8 Ihe tnellwjts and WI￿pIeS in the a￿lCab￿ c￿3[1[185 SORP IFRS1021-
rnake ju¢Joetr￿nis and Oslimaies are rea￿nab￿ aThJ ￿￿ft1.
stale wh81h81 aFo￿ab* accounting sianoarc& ha¥@ t*Bn folknY8d. $¥bl8ci 10 m*&r&l doparturas
d'$¢los•d ar%# èxpkn'n8d In the fina￿￿1 sial8ment5, and
8par8 th8 Iinaroal statem￿tS cn Iho going concarn basis un*ss 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 reasona￿0 aceuoty al
any t'mo the financkil wsithon ot tho grwp Wid charrty ond to onabb thom to onsuro Ihal tho th'nan¢ial
stBIe￿nIS comply with Iho Chariiiey and Tiuslee IrNoslm8nl lsxlllandl Act 2Cb)5. the Chorth'eg Accounta
(Sco￿0￿#) A•Julationa 2006 las amerte(tl anLI the PfoVL*OnS of the charty Trust Deact. Thoy aro also
le¥pJ￿Ib18 lry Jof•9uar(*'nq th• as*J ol the Lyoup charity aThJ lakry ieascnatk* *eps lor Ihe pieventvan
and dettttion ￿ Ir&xl and othow wiegularths.
The Irustg93 ¥• Iw￿n$t1• lor the main1wa￿e and inl•Jrity cl the Eyoup cha[￿Y and linv￿la1 lnt1rmal￿n
Inclu¢ed orn the charlty's w*Jsrte 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 rt0￿d 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
Indiv*knlly ttJ4en. have each taken all Sleps Ihal helth 15 10 tahe as a Iruslge In oidei lo
th0￿81¥e5 awar8 ol any ¥devant aud* irthxmatxm arKI * 8siablL4h Ihal ts audrtor Is aware ol that
In1Drmai￿n.
ppiovul Dy lh8 li￿￿19•S cn 6 Jlrn 2025 ar*1 s￿ned 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 audit￿1 Ihg statemoffls of Tho Gibson Hol￿ St Anthaws SCIO Ithg 'oroup ar*Y rt$
subskliary'l lor the year endad 31 Janvary 2025 Wh￿ ¢ompr¢e the consolKlaied and charity Siaiemenls ol
finartial activrties. Consol￿ated and chanty bala￿ sheti. consclhlal&Y and charity statement ol ¢ashflow.
and noies to the financial siatem8nts, I￿lUth￿J 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. Inc1￿j1n9 Financlaj ReP￿Ing SlaTrJard 102 The FinBnwl R6￿MA9 Stsnd•rd aotable th•
UKand Republic ollrel8ThYIUnited Kingdom Generalty knepted Accounbng PraC￿e).
In our opinion thè financial 5talemenls'.
give a trne and lair view ol Ihe Stste of arb* ch*rfy's affair5 as al 31 Janu)ry 2025, and ol
its i￿OrnIng resources and ZFplicathJn of iesoufces fry Ihe year Ihen en¢Jed..
hav8 been prowty prepared in accwdance With Unit&J Kilyd￿ Generally Ac*ed AKwfflinq
Piaci*e', aTra
have t)een prepaled in acc(th￿e wfth rwwornonts ol thg Chari*'es arKI Twtee Inveslment
(scotta￿lI 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 $laiem6nts seaK)*F of tyJr report. We are independgnl ol the Chanty In ac¢or¢Janc•
Ih th8 81hical r8quirem8nls thal aig 191gvanl lo ow audrt ol Ihe Inanc￿ statemgnls in the UK, inclL*4ing the
FRC'S Elh￿81 Slandard. aTh1 we havo lulfiw our Qlhw ethical reS[￿*•i111￿S in awordance wilh th&so
rnquir$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 b￿18 01
ccounling in the wepaiaiion ol lh8 Iinancjd staiomwts is aFprowiate.
8ased on th• wcrfk we have F4rform￿, ￿ have nDI K1eThbf￿o 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 tina￿181 siai•m•nis arè authorised for
goi
issue.
re$pOnsI￿￿k•S and lh• ol Ihe wtth golng •r•dtter￿y kn tho
vanl 3e¢tlon$ of IhL8 rewt.
lorrn*tk>n
ei information eomws$8 ts inlormalkn Tru￿0￿$. r•pJrt. oth8r Ilwi the
$lalemgnl$ and our audrtor's report there￿. The Irusi085 are reSp)nsi￿a lor the olhgr inflymallon contained
within Ihe Trusiees. rep)rt. csinion ￿ Ihe fina￿la1 siat*Thnts do￿ N)t eovèr thè trlher inforrnalion and
we do not trxpress any to￿ ol a5surarte C￿￿us￿)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 r*Aaine# 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 dete￿Th *th8lher th￿ givos rvtse lo a Malert￿ mlssiaiemont in the
lina￿la1 slalernents Ihemwfvgs. W. ba$ed ￿ the work wo have ￿rto￿ad, we condu(k that there is a
maleriaf misstaiomgnt ol this Ot￿r inlormation, we are wired lo rop¥l Ihal Ixt.
We have nothirrtJ to r8FQrt In lh￿ regard.
Mattws on whlch w4 ar• r•qulred to r•port by •x¢•ptk>n
Wo have noihing to report in fespecl ol th8 Idbwing matters in 10 Ihe Chari*•S Aeeount$
(Scolandl RegulalK>ns 2006 rgquires us to rop)rt 10 you rf. sn eojr otyniM'.
thè inlormaiNJn gwen in Ihe finarwl ststernents 1$ I￿0￿1$￿1 in any matèrial r05P8Ct Iwih the
trustees. report., or
Frfoper a¢th￿￿ti￿a record5 have not been kepi; or
the financial staiemenls are rnt in agr86meni *ilh thè acttsjffling T•cords,' or
we have not recwved all the info￿atIOn explanati￿$ 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
RespOn￿bIlItIeS of Irusto•1
As explained mor8 fulty in the tnjstees, resk*N￿*1I8s statement set out on p•J& 6, the trustg8s are
re$wngb￿ lorlhe preparai*)n ofth8 fina￿81 slatements￿l¢h gNe a Inje and lair vie*. andforsuch inlem
control as the trustees deterniro i8 necessary10 enthe the wepgrath?n ot th'na￿la1 statements thai are Iree
from maierial misstaiemeni. wheihw du8 to Ira￿* or error.
In prepariThJ the financial statements, Ihe trusiees aw rtsswtsthlor a558sww thegroup's alylty lo continue
s a going cowrn. t1ithing. as rnallefs related io conwn a￿1 using the going concem
ba515 01 accounting unless lh8 trustees eit￿r iffle￿ 10 I￿U*late the charty or lo ¢ea$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 a￿litOr under seciion 4411llcl ol Ihe Charili85 aTrJTN$to• Invg¥trwl (s￿￿n￿l
AGI 2005 arKJ reFQrt In accordznce wtth regULqtIor￿ ma(* unoer ihai ACL
Our objectives lo obtain rea$￿able assura￿ atr4xrt wheth8r the financial $lalem¢nls 8$ a w￿8 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 hKJhI6v6Sofassura￿e. bJl is notawaranl¢ethal an audh¢ondvcied
In a￿ordanCe I￿1￿ ISAS IUKI will a*ways detect a rnal?rial misslaieftwt wh6n it exists. Mi551aternenls can
Afi58 Irom Iraud or wror and ar*consKleied m*erial11, I￿11¥KlU￿lY or in th8 aggr8galo, thoy ¢oukl ieasonably
b& 0xp￿•d to INM￿nCe Ihe dmions ol ￿￿or3 lakon on th• basi5 of Ihe50 fina￿la1 sla18mgnl$.
Extent tts whl¢h lh• iudli ¢on•ld•y￿ up•bl• ol d•t•ctlng Irrnguknrltl•#. Includlng fraud
liregularitie$, IncludirvJ Ira￿1, are in$tsn¢es of wrth laws and rgguLqtion$. Wo d0$1gn
pr(*eilur*$ in line wilh our resp)Thsibi1it￿s. a￿Ve, lo doiKI mat•rAI mis5tat8rn8nts in r8swI of
irregularrties, including traud. The ￿￿OnI ¢)ur are wblg of dth¢ts"nq Irr*9ularrtl￿.
including IraLK1. Is datas￿￿ bdow..
As part ol our F48nning process..
Wè •wuiréd ol manag8Thnl the $ysterns arKI th• gy0￿1 In Fkn, the argas ol the
'nancial stal8rnonl$ 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 Insta￿8$
ol known, SUS￿le￿ (M alleged IraL&I..
We obtainod an uTrJerstsnding ol the legal ar*J wulatory tr¥an**ot*s aN4￿abl• 10 th• groLSP. Wg
delerrnned Ihal Ihe lolfving were mo* r8lthfant: Car• I￿pector41￿ regulaltrJn8,' SOA slaNJards',
GOPR." h•akh afKJ salety.. aTrJ emFtym8nl law..
We Cons￿￿ed the I￿ntiVeS a￿1 OFPtr¢uniti88 Ihal extyt in the group. I￿lLAyIng the exieni el
management tlas. whieh riastni a Folenlialtor irrtyularii￿s and fraud10 be ￿1p￿traItd. and talbred
our risk assessrnent acwrdiwty," and
Using our knovAedg8 ol th8 dwty. Ic*3ether **h Ihe h•lJ with manmgernenl al th8
planning stage, w¢ lormed a co￿lus￿l￿ on th• ri%k of m¢5Stal8mgnl dug to irregularibes InCI￿lIng
fraud and labrèd our pyocedures aC￿r￿￿ 10 Ihis ￿ assossrnani.
Th& Key kyocedures w• urthrtook 10 d8t8Ct irrewlanbgs Ind￿Th9 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 su￿CoMmit1ee meetings."
Revievling ￿n$￿tion rerh)rts Irom t1￿ Care l￿FectOrate in rglation ￿ the cafewovld8d. and the SOA
in relaiion 10 Ihe training provhded by the sUbS￿l8ry',
Chajlerrtjing assun¥Jlions and 1￿jgemerts rnade by ￿￿￿men1 swjnffjcanl accwnliTvJ
gStirnat95. in pariicular tixed ass8tdwwalA)n. investrw lair Val￿ •Slinates ind￿[￿￿ invgstmgnl
prcperty, bad debl kWOMs¥￿$. accwals". aTrJ
Auditiffj th• risk of managernenl override of cijntroh. hth1iThJ thrwh testing joumd entries and
other adjustments fN apwoKW*ten¢ss.
lling lo the inherent limrfabons of •) aLpJit. ihore 15 Lma¥o￿￿atrA& tst sorr* materlal mLssthtsments in
the linaneial staternerrts may not te del￿1, even Ihowjh the awjit LS property planned and pwforrn8d in
a¢coidan¢e with the ISAS IUKI. For insiarre. Ihe lurtI￿r rernov*J n￿¢(￿nrI￿7¢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 c￿r rosFOnS￿lrt1QS lov the audrt of the financid 31al•merts 1$ krAOd w the Financk
R8por*ng 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 ￿Cr￿lS (Scollandl Rwulaiions 2r£& Ouf aJdil has l)gen wL*iiaken so we ￿[gh1 slaT8
to the ¢hanty'S tru5toos those rnattws we ar& rwited Io Stale tyj Ilw ¢n an a￿11..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 trust*s as a t￿. loi our audrt trys iepon. oi lor Ihe wnSons we
Henderson Loggle LLP
Charterec ￿tD￿nIants
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 cBp*oJ Kcouvt
T•i*l¢hw*ylund•
PI.7051
3*51
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
Pl￿4*￿ from In¥•￿MIn￿&
PuTchase ol ￿¥0￿Men
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 andaswsw￿l ol gohw ton¢¢rn
The accounts Ilinartial siatementsl have been prepar￿j undw tho his1or￿￿ cost conwentlon wlth118m8
ognised ai c081 or trans8th￿n vakn8 Un￿ othèTh•iso slalod in the reknvarn nolelsl to these accwnls.
The linancial $iai8m8ni8 hav8 been in acwdaThx *ith the Sialefflenl ol Recommend•J
PractKe'. kcounbrrfj aThY A8wrtir¥J by Chath￿8 ¢vopariNJ fvir awunis in a¢¢ordance ￿1th the
nancial AeFQrtiThJ StaTrJard a[w￿ble in lh8 UK and R8FxJbr ol Irdand IFRS 1021 and Fina￿￿41
Aeporting siatmlard in the Unned Kin￿￿rn and Rewblk ol IrelaTrJ IFRS 1021
Charities Ac¢ounts (scol￿r￿lI l1ewlalH￿ 20C6 las am8ThY•Jl.
Thv charity Co￿¢￿1t•S a benefft eniity as d8fin•J ty FAS 102.
The accounts are pr•paTed in Stsrfin9. Ih• IwGlkn•l ol ¥hwlly. TrhJ[w￿iY WIK￿111¥
In these •C¢Ol￿tr ar• rwTrJ8d 10 the I￿are￿ £.
Oolrw
The iw518es Cr￿ Ihai there ar8 Trj mat8ri&l ab)th tho group ￿ ehariV5 ablily lo
eoniinu• as a goirMJ cor￿rn hwry laiw W$ and manag￿9￿¢ d￿nIs. Tho m051
sbjnrfkart ar•as ot uwlalnty Ihai ellect the cairylw ol tho USOt8 tho ¢hartty affj the
p•rtorman¢• ot InV￿lmOnt mathets ￿ 119hl c4 th• ¥c4aDty resu￿Thj from th8 onooiffj •lle¢i ol unr6$1
8round Ihe and ol￿r •￿0rNal f*iors. P￿¥￿S ar? more ihan adwi8 10 cov•r any vnlorso
events in Ihts in8tanco18a• th• investhwni wlky FWtormwKo aTrJ rlsk managem8ni ￿￿on$ ol the
t￿1088. annual r•wrt for moty Infomthknl.
The Accounts cowlkl•i• It• ¢h•rty and Com￿nY.. Gb8(ffi TralI￿n9 and Caf*
Lkni18d. The i￿Orne ol the IiathrMJ PAthithary l• in¢kthJ k) th• CtywldatOLI Slalemonl ol Flnanclal
es Y*lthln ￿hOr xtivmas. ExF*Thadur• Is in¢kthJ in Comwrual li•Jiry oF4ralon8 and
IrNostrn8nl m8na9•m•rd eo•ts.
cl Funds slnKtur•
l ol Ihe charlty fund8 w• um8ir*ied. lthr•sirki•Y cthnprf•• thoJ• bjnds th•
InJ51e85 are Ilee 10 u8e I&T ary Frtwrw• of th• ¢h•rflthl•obJ8ct&
dl I￿1)￿• r•co9nttlon
All IrK¢ffle is recogn￿ed Ihe ha8 8ntJllem8nt 10 th• kKom•, tt thai th• I￿0 ￿11
b• receiv￿$ and lh• arrwnl ol irK(Th rKeivab* c*n b8 m•8¢u￿3 ffjlilbty.
DfvhJeTrJ8 aTrJ Olher In￿lment Ir￿MI 1$ r•¢ognwJ orts 11 has bogn d*Jar•a aThJ has
n r8ceW. Th18 ￿ ￿r￿lI￿ w nOti￿allOn 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 r*arty.' Ihl& h norffl￿ty 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 proV￿10n 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 C￿M￿li￿* owlbn commhtlng
th8 9￿P 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 for*fftk* hwas Ir￿lI•J.
14

THE GIBSON HOUSE ST ANDREWS SCIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDINO 31 JANUAR Y2025 (contIn￿d)
l. k¢o￿lIng Polkl•s Icontlnu•d)
gl Cost• ol rnl•fjng lur#ts
The costs Ot generaiiTrJ bJThJ8CO￿ts of the fp)sts of the subs￿l@ry
and Investment mana0￿￿11¢0
h) eh•rftabl• aell¥ltb•*
Costs ot charilabkn acbviOB8 ¢omFw• costs Ot cpwaw Glbson Hr￿ and govarnaw ¢o$ts 01
Shown in n018 6.
11 T•nglbl• Ilx•d ••••t••nd d•pr•¢l•iioh
Ir￿1VidUal lix8d assfj15 cosiirvJ rrrt)fe than £1.C(#) are ai cost. Pro￿$￿ is mad& for
t￿reCia110￿ on all IwvJib* lix￿1 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 Idlr**s'
H•Tii•Ne prowrty
2% strayhl Ilne
Furnlluro, IbthThJ$ and •tyipiitht
10-33irtA stralghl Iln•
Flnanclll In¥tNmW￿*
Flnontial Instrum￿15 ar• r•¢ty￿￿ kn IIKI tharitys bath• sh881 the ¢Swlty becom88 p&tyto
Ihe coniiactual wovisbns ol lh8 Ir*irum8ni. Bas* •ssets Iwhk* inclLth cash and bank aTra
debtor baL8rta$l aThJ bas￿ ￿That￿￿1 lithliti¥$ 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 ini*e81 ftwhod. B•$¢ iss•i&Iatllil￿, daswlNgd
r•coivablelpayaNe within one >*ai. we wgmorti8•J.
Invoslmenis are a torm ol bask I￿tru1r￿M 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)$4* IhrwaPthrt th•y•w.
The charty acqulre w cobns, dethfaLW or ¢th¢r comp￿X fin¥thl Instruments. For
•thlc& reasons Ihe charftyOJ88 not in￿1 in I￿8¢¢0 oi •miwMr4 Com￿nI•S.
IbWWtm•nt prop•rt*•
Invgslm*nl property. 18 VOP•ty h•hJ *J earn rnntalB lor cathl oFwlath)n. Is In￿1811¥
rKognis¢d ai ¢osi. irthjps tho purchase any dirth aiiiibJiabl8 axp8ThdilUIg.
Subwuenity m¢¥sur¢d •1 l•ir al Iho r•rthing dai8. Tho 8urtyu8 or del￿rt on
rovaluaiknn Is r￿n￿¢￿ in Ih• 818t¢mwt of fln4rwl acm￿.
ffll R¥ll••d i•ln• •nd k•M•
I gains aThJ losses aTfj loken ￿ the &•ifftnt of Fhar¢L91 98 Ih•y 8rfse. Reallsed galnq
and losses on invesirnents ale catulaiod as tlll*rAnrJl hAN*I(*n th(* A￿1￿ Anrf IhA
op8nino cairwry values oi Iheir wichase vakje it a¢quiTod sub5ewent lo Ihe lirsi day ot Ihe Iinandal
>*ar. Uniealised gains and k)ssts ara c¥kxJlal¥d a5 the (Illerence beM8n the lair valu? ai the ￿al
eThJ and their caryryJ Va￿e. Realtsod unr*•k••d irbve¥lrrnnl gard arKJ h)sM8 are combhed In
Ihe Sta￿￿￿1 of Finar￿￿81 Aawthas.
n) P•n•lon ¢Mi• •nd Olh•r po¥trf•llr•nwl b•rwllts
The chaiity opeiale5 a defined contri￿J1￿ln ￿nS￿n scheme. Conirbjkn payaL4e to th¢ ¢haW$
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
$ystsmatic basi% is r•pro5onlalNg ot fv Imno pattern in whKh t*noftts liom the
ass81 ar•consunvJ.
pl Judym￿* kn *pP￿￿O •¢¢Wnilng pollrl•* •nd k•y •oUr¢￿ ol utlThtlon
In Ihe aFplKaiion 01 the ¢*anty's att￿ni1￿j wl¢*s. Iha TftJsi88s aro rwir*l 10 mak• IL*om•rfs,
e5rirnai8s asSum0￿jns at*YJl the caffymg afflrth of ass8is arn* liatrj4il￿ that aro nol read'ly
•pparont Irom oltsr swrce5. The oslimafvs 9s80iai&J assumptions we based on hl$iodcal
•xpOr￿r￿Q ar*J ohr fxlLX• Ihal cor*hJBr•J lo be tham. I￿Ual iewtys may dlllw Irom th¢4¢
estimatès.
•parfry th•s• fin￿r￿ slateThnt8. theTrusto88 havo m•J8 Ihe fdk**lThJlWm•n¢•'.
Tangib* 8888ts are dw8cla￿a over a rArtoJ io wll•¢t thoir •slmaiod u5dul I￿05. Tho
aFplkat4"1ty Ot the aSsWned1￿os ann￿lty. ta￿l¥j into •¢¢ounl tac1¢rt5 such ￿ thy5ical
condthw. maintenance aTrl C￿￿1￿¢￿.
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 aM￿niS 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 In￿100$ ￿re pawj. nor rnceived any other téntrlits fr¢m employm•ni wnh tho ¢harlly or
ns Subsky￿ry In Iho yeai 12WL4.r￿O1. ￿Ther ware they F8lmtyJrs8d expenses during th8 year12024.
nDnol. No thirty truste• r￿#¥*j Pa￿ IN wofw*onwl crf Olhw 10 th• ¢harfly
(2024.nornl.
The value ol the ￿Tk done by tr1*18es th gMr*J of Ih*r tor n*br#Ji Iré oth•r matt•rs on b•h•ll
ol the chadty is Trjl ￿K9￿8d in th8 acc4unrs a$ tt e¥nnot b? ¢NJ•nOf*d
trusi¢*s are M•Mt￿ ol Fl• CtyJr*SI. trans￿l￿)n1 Fhe Cro￿￿1 ar• on
an amslowh bw.
C4mrn•rc￿1 IrAn#•ctont Ihp •ub8kJ&ry Tr￿1￿ 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{￿ntln￿d)
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
C￿rmY
2trJ$
Cb•rlly
S8cFeMrfal aTrJ fin￿￿al &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.$05.&J9
106.&33
89.151
21,871
22,t34
19,
23,310
12,894
11227
1 795611
951,470
06.894
17.349
847.801
52,905
13.548
P•nsion costs
Ststs travel
Ao8rKy omr
12,694
1.048.407 *1
92S.
Tl* &¥•iw nKMiUly Lawat •rwJ ¥i•ffj tho yow
a8 follw..
2025
1￿mb•1
>J24
Numb•r
Charty. Car? of reskl8nts
Sthklary. Trnining and Car•
45
51
46
47
No 8￿￿0>*0 had •mWo>*o bon•fity In 01 £60.tXXl12024.Th)n•l.
Th• k•y man•oom•ni p•F50nr* of lh• parent (•wty. the SCIO. comw*•s th• tryw•w, th• m8nag•r
and ￿ A￿1$*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 wbsKI￿ry 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 ACCOUP￿s
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 J￿￿￿21)23
2 158 171
At 31 Jan￿ry >J24
2 1￿.943
Fumllur•
& Fltllng•
Tol•l
Cost of ￿l￿tIOn.
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, f￿r￿l￿O
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￿,(K￿l.
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 J*r￿ry 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 JITh￿ry>)28
H￿tabl• 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
C￿rge loi lh• y•ar
At 31 JanL￿ry 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
El￿r¥ IYd¥ l¥￿ nD Irwi￿1&1 ¥￿￿0 of lh• wot•Fty trom tnis 8alo as S￿h 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 I7￿8d trading Gtwn Tralnlr*J ¢•r• In￿#)rated In Scoland
l¢ompany numt•r ￿931￿6) WKI ￿ rts ￿xa￿0 yofftB KI the C￿rfty Ut>Jw its gift ty￿1 ￿¢m•,
Turth)sw
C￿1 ot 8ales and •hlnknaikn
Intsr88t payab
Taxaiknn
Prolh ftht
916.686
(8722071
11041
1858M571
12501
The 888•ts aTrJ lat11￿ otts $thhJ•ry*w•:
1,318
195,411
Ily2￿$4}
1.742
78.991
1112.827)
331
Curwni ¥sg•ts
Current liaknlilkrys
Pro￿s7OnS foi ILqb41
Total not

GIBSON MORTIHCATION, ST ANOREWS
NOTES TO THE FINANCIAL STATEMEp¥fs ICOPrnMUED}
FOR THE YEAR ENDING 31 JANUARY2025 (contIn￿d)
11 Investn￿tI- p￿￿0110 ol In￿lMents
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
ma￿8¢ v*u8 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 Jarrt￿ry 2025*88 É381,WO12024 E285,1941.
lnv•*tn￿ts at l•lrv•h*¢Myl••d:
Fixod Iwt
Equii
Atterna￿s•
Totsl
S9,957
324.529
SO.368
222.195
461.115
Al Inv••bMm• •rn ¢athJ 41 tr￿r l•w vahx*. Irvnsknonts we traded at bha for Invo8tmenl
lund$ 4ThJ unft Irustr or $l¢Yk 0xch¥ny mwk•i fv. Th• bgsls of Iglr vabe Is equ￿91&nI to mgrkel
¥a￿e uslrvj pr** ￿ tradad malkèi Fm$. Assot s•1•$ pur¢h•sos ar• r•cognis•d al tho dal• ot
Irgde at Ilhai 18 th￿r transaciton va￿1. Th Iw$iws Inv•stm•nts ov•r 10% 01 lh•
)rtld￿ ￿ b8 male1￿. M SIng￿ inv88im8m oAcoB8 ol Ihffj.
Th• $tyJnrfkance ot Ilnancial in*l￿nents lo tho orwiry lha￿￿91 w8￿nab￿l￿ ol IM charfty Lg
nslY•i•d in tho fiMn¢*al rovw in¥estm•rn F4Jly sKOon8 of the tru8te88' annual rewrt.
Tho rn￿n r￿k ￿ the charfty IM ￿nar￿￿9$ In8inJmwrs Ilw In lh• Com￿￿*1￿￿￿ ot un¢ortalfi Imsbn•ni
markets aTrY wola￿ty In Y￿*￿. Numer￿￿ la￿or$ I￿1￿11￿j ¢Wanirfa1l￿ •x¢haffj• rw Ind
)rbJ wkle taucws char4Je ovw time Comd￿￿e In matheis.
risk is anlwal•J to t• as all a5s•ts are tra¢￿￿ In mathths 9￿j li(pJK11ty antt hvJh
trad1r￿ volvm•5 Tr ch￿ty has Tr) rnatOr￿ in¥8sm8nts in mathots subpct 10 8xchawe coniloh or
Irading i￿￿￿L5)n¥.
Th• ehwlty m8n•gos thot• inv•simont by ret4hrMJ expen th8er8 aThJ op8raiin9 gn Inve8im8nl
ky thai provid95 lor 4 h4h thgree ol d￿￿ficaT￿ ol hohdlrqs *lthin assth cla8se8. Th8 charlty
(kn8 not m&%e us• ol 09rNal￿¢S simll•r ¢tynpk*x in51Nfflonts as11 tak8s tho ￿eW thai
invo*nwnts oty h¢kl for Ihthr kM¥Jer i•fft yiokl return h￿l0r￿ hwve lThy￿al8d Ihal voL41111ty
In any partkuLgr I￿e *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
Ot￿r 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