Ch•rlty r•gi$tration numb•r SC050433 IS¢otlandl GEORGE CRAWFORD LEGACY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 JRW HOGG & THORBURN di- LLI L41 L4UIILdllts GEORGE CRAWFORD LEGACY TRUST LEGAL AND ADMINISTRATIVE INFORMATION TruBtegs Charfjty number {Seotlanui SCO50433 Prlnclpal address Riverside House Ladhope Vale GALASHIELS TD1 1BT Independent examlngr Riverside House Ladhope Vale GALASHIELS T01 1BT Investment advlsors Brewin Dolphin Limited 12 Smrthfield Street LONDON EG1A 98D GEORGE CRAWFORD LEGACY TRUST CONTENTS Pag8 Trustees, report Independent examinerfs report Statement of financAal 8¢tivilies Statement of finan(i81 po&tion Notes to the finanaal statements 8-12 GEORGE CRAWFORD LEGACY TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 The trustees present their and financial 51atemènls for the year ended 28 February 2025. The financial statements have béen prepared in accordance with the a¢xounling poli¢ies set out in note 1 to the financial slalemenls and comply with the Trust's deed. the Charities and Trustee Investment (Scollandl Act 2005, the Charities Accounts (Scotlandl Regulations 2006 {as amended) and "Accounting and Reporting by Charities.. statement of Recornmended Praclice applicable lo charities preparing their accounts in aco)rdanee with the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland IFRS 1021 lèffe¢tsve 1 January 2019}" Objectives and activities The Trust aims lo provide opportunities lor young people, of all abilities, and from all walks of life, to reach their fvll potential, especially those with the drive and determination to 8chvdve a bètter outcomè foi themselves. The Trusfs objects are widely drawn but have been primarily for the improvements in. accgssibilty lo, and piomotion and $ypport of participation in sports and leisure pursuits in particular, for all in the United Kingdom. The funds are wholly unrestricted. The policies adopted in furtherance of these oty'ects are lo hold Ihe Trust fvnds and the income thereof in IN$1 and lo apply both the income and ¢apilal reserve in su¢h proportion as the Iru5tees see fft. Achievemènts •nd perfomian¢e Awards 1 Mar¢h 2024 to 28 F¢bruary 2025 33 Awards were approved in the above period across a varièty of sectors. The Trustees meet quarterly lo discuss all applications made and decAde which best rneets the ethos of the Trust's objectives and assessment ¢rileria. £18,715 was awarded to thè 33 successful applieanls. Summary Amount Number of applicants 8811 Sport 8iking Bowling Educational Equestrian Gymnastics Hockey Curfing Pony Racing Swimming Telralhlon Medi¢al Cricket Table Tennis Badminton Golf Running £ 3,300 00 £ 600.CX) £45000 £ 2,750.00 £ 1,950.00 £ 1.1LX).00 £ 500.00 £ 1,375.00 £ 100.00 £ 1.25000 £ 900.00 £1,940.00 £500.00 £500.00 £400.00 £500.00 £600.00 Total$ £ 18 715.00 33 GEORGE CRAWFORD LEGACY TRUST TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 28 FEBRUARY 2025 Flnanclal revlew 11 is Ihe policy of the Trust Ihal unresliicled funds which have nol bgen designated for a specific use should be invested in a suitable investment vehicle to generate an annual Income. These funds continue to be managed and investad on a di$¢￿tIOnary basis, The value of the investmont portfolio at 28 Fgbruary 2025 was £132,370. No income was distributed out of the portfolio during the year. The Investment Advisor held cash at the year end of £4,150 induded within the figure above. The Iruslees a130 agreed liquid funds should be maintained al a level equivalent lo between six twelve months expendfiure. The trusiees consider that reserves at this level will ensure that, in the event ol a significant drop in fun(Jing. they will be able lo GontillLFe the ffust's curfenl aclivities while consideralKJn is given lo ways in which additional funds may be raised. Thk% lev¢1 ol r¢serv¢$ hos been maintained thrOug￿Ul the period. The net assets of the Trust at 28 February 2025 stothl al £188.3S812024- £168.ICBI. Major risks The trustees have assessed the major risks lo which the Trust is exposed. and are satisfied that systems ar& in place to mrtigate exposure to the major risks. Structure. governance and management The frusl was founded by a Trust Deed dated 281h March 2019 and was registered a regislered tharity. SCO50433. wrth effed from 3 September 2020. The Iruslees who Se￿ed dunng the year and up lo the date of Signatu￿ of thè financial stat&menl$ were.. The original [r￿teeS were appointed by Trust deed in 2019 in order ID set up the Trust in memory of George Crawford. The total number gf trustees rèmainad at fiw 8nd thore were no r06i9nation6 in the year. If and when fijrther trustees are reouired. they wll be approached by the exisb.ng trustees lo widen the breadth ol experience reqviied lo run a Charity. The Iruslees, report was apwoved by the Board ol Trustees. 29 April 2025 GEORGE CRAWFORD LEGACY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GEORGE CRAWFORD LEGACY TRUST I report on ihe financial statements of the Trust for the year ended 28 February 2025, whlch are set out on pages 4 to 12. Ro$p¢ctive responsibiliti¢$ oftru¥tse$ and examin¢r The Trust's trustees are responsible for the preparatitsn of the financial stalements in actordanfje wilh the leitns of the Charitios and Trustaa Investment IScotlané} Act 2005 and th8 Charities Accx>unts (Scotlandl Re9ulgtions 2006. The Trust trustèès ConS￿er that the audit rÈquirèmÈnt of Regulalion 10{1llal-Ic} of the Chantiè$ Accounts (Scoland) Regulations 2006 tloes not apply. It is my resp￿sIbIlity to examine Ihe finan(ial slalements as required under sectDn 4411llc) of the Charities and Trustee Inve$trnent IS(x)Iland) Act 2005 and lo stale whether particular matters have come lo my attenli(n. Ba658 of Independent examingr's StstsM￿ My examination is carried out in accordan￿ with Regulation 11 of the Charities Acrnunts {Scollandl Regulati￿S 2006. An examination Indu(Ès a review ol the accounting records kept by the charity and a comparison of the financial stalefflenls pres￿led with Ihose recorcjs. It also Sncludes conslderatbn of any unusual Items or disG105ures in the finan¢BI statements, and seeking explanations from the trustees Gon￿rnIng any sL￿h matters. The procoduros undgrtakan do not promda all thè •vid8nce that would bg required in an audit and consequently I do not express an aLvJ¢t opinion on tha view givan ty the financial stalèments Indopondent oxaminerfs $tstèment In the C**urse of my examinat￿n. no matter has come to my 8tlention - which gives me reasonable cause to believe that in any material respecl the requrements." to keep ac£ounting reo)rds in accordance wf(h Section 4411118) of the Charities and Trustee Investment Iscotlandl Act 2005 and Regulation 4 of the GhaniEs Accounts (Scolandl Regulations 20Q￿, and lo prepare fi￿anG￿l 51aletnenL5 whiGh aGGord with the acGountln9 18cord5 and cofftply wikn Regulalion 8 of the Charities Accounts (Scotlandl Regulations 2006 have not been mèt. or 2. to which. in my opinion. att￿tion should be drawn in order lo enable a proper underslatKliNJ of the finanoal slalemenls lo be reached. Ladhope Vale GALASHIELS TD1 IBT 29 April 2025 GEORGE CRAWFORD LEGACY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2025 Unrestricted funds 202S Unrestri¢ted funds 2024 Not•8 In¢ome from: Donations and legaeias Fundraising and other Irading activities Inveslments 19.376 23.329 3.188 36.390 21.776 2.470 Total income 45,893 60.636 Exp•nditure on: Raising funds Chariiable activitiès 11.790 25,542 14.230 32.503 Tolal expenditure 37.332 46.733 Net gains on investments 12 11.729 5.055 Net income and mov•mont In funds 20.290 18.958 Reconciliation of funds: Fund balances at 1 March 2024 168.108 149,150 Fund balances at 28 February 2025 188.398 168.108 The 51alemenl of financial activities includes all gains and losses recognised in the year. All income and expenditu¥e derive trom continuing activities. GEORGE CRAWFORD LEGACY TRUST STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 2025 2025 2024 Notes Flxed assets Investments 14 132.370 119,420 Current a$$ets Inventorles Cash at bank and In hand 15 521 58.257 51,917 56,778 I7￿1) 51.917 13,2291 CUT￿nt liabiltties 16 Net cuirenl assets 56,028 48,688 Total as$tts current Ilab511tles 188,398 1e8.108 InGome funds Unrestricted ftjnds 188,398 168,108 188,398 168.108 stees on 29 Apiil 2025 GEORGE CRAWFORD LEGACY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 A¢¢ounUng poll¢lg$ Charity inforniation The continuing adivity ol The George Crawford Legacy Trust is to provide funding to create opportunities for young people, of all abilities, and from a11 walks of lrfe, to reach their full polenlial. Espeaally those with the drive and determination to achieve a better outcome for themselves. The Trust is established by trust deed in So)tland and it is registe￿d as a charity with the Office of the Scottish Charty Regulator and ts registe￿d number is SC050433. The Trust's registered address is JRW Hogg & Thorbum. Riverside House. Ladhope Vale, Galashiels, TD1 1BT. 1.1 Accounting ¢onvèntlon The financial statements have been prepared under the historical cost convention unless othe￿iSe S￿￿en$ are recognised on receipt. Other donations are recogniseil once the Trust has been notifièd ol the donation. unless pèrformance conditions require deforral of the amount. Income tax recoverable in relation to donations received under GrfiAid or deeds of covenant is recognised al thè time of the gift aid claim. Legacies arè recognised on receipt or otherwise if the Trust has been notified ol an impending dislribullon, the amount is known. and receipt is &xpected. If the amount is not known, the legacy is Irealed as a contingent assat. GEORGE CRAWFORD LEGACY TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 28 FEBRUARY 2025 A¢¢ountlng policies Icontlnuedl 1.5 Expenditur• Liabilities are rewgnised as resources èxpended as soon as thère is a legal or constructive obligation o)mmitting the Trust to the expendrture. All expenditure is accounted for on an accruals basis. Irrecoverable value added tax is charged against the eAtegory ol resources expandèd lor which it is incurred. Sponsorships payable are payrnents made to third parties in the furtherance of the charitable objeciive5 of the Trust. These are accounted for whèrè either the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation th81 they will re￿1ve a granl, or any condition attaching to the granl is oulside Ihe control of the Trusl. Man8gement and adminislr81ive costs are included in charitable actiwty costs. Govemance c£Jsts cornprise all costs involving the public accountsbility of the Trust and its compliance with regulation and good practico. These costs relate to accounting fees. There is no apportlonment of overhead costs. 1.6 Non.curr¥nt Investments Fixed asset inve51menls are initially measured al transaction price excluding transaction costs, and are subsequently me8surÈd al fair value al each reporting date. Changes in falr value are recognised in nel in¢omellexpendituitrl for the year. Transaction costs a￿ èxpensed as incurréd. 1.7 Inventories Inventoriès are stated 81 tt)e lower of cost and estimated selling Price less costs to ryjmplelg and sell. Items held for distribution at no or nominal cJ)ns%deralion are measured the lower of replacement cost and cost. Nel realisable value is the estirnaled selling price less all estimated costs of compl&tion and costs to be incurred in marketing, Selling and distribution. 1.8 Cash and cash •qulvalents Cash and cash equiv8l&nts include cash In hand and balances with banks. Basic financial assets Basic financial assets, which include trade and other recèivables and cash and bank balances. are initially measured al transaction price induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. Whe￿ the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Finanual assets cLg5sifigd as receivablè within one year are not amortised. 8asl¢ financial Ilabllltles Basic financial liabilities, including trade and other payablès and bank loans are initially recognised at transaction price unless the arrangement constitute5 3 financing transaction, where the debt instrument is measured at thè p￿sent value of the Yuture payments discounted al a market ral& of inleresl. Financial liabilities classthed as pay8ble within one year are not amortised. Debt instruments are subsequendy carried al amortised cost, using the effective interest rate method. Trade payables are obligations to Pay for goods tsi seNices Ihat havè been acquired in the ordinary course of operations frorn suppliers. Amounts payable alè elassffied as Current liabilrties rf payment is due within one year or less. 11 not, they are presented 8$ non-current liabilities. Trade payables are re¢ognised initialty at transaction price and $ubsequentty rnèasured at amortised cosl using th8 effective interest method. Derecogftitlon of flnancial Ilabllltles Financial liabilities are dereco9nised when the Trust's C4Jnlr8Ctual obligations expire or are discharged or cancelled. GEORGE CRAWFORD LEGACY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 CrÉti¢o1 •eeountlng estimates and judgements In the application of the Trust's accounting policies, the t¥ustees are required to make judgements, estsmales and assurnptions about the ¢arrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assoaated assumptlOll5 arè based on historical experien¢tr and other factors that are considered to be relevant. Actual resuts may drffer from these estimates. The estimates arKI un¢Yedying assumptions 3￿ reviewed on an ongoing basis. Revisions to accounting estirnates ale ie¢ognised in the period in which the estimate is rewised where the revision affec15 only that period, or in the period of the revision and future periods where the Tevision affects both current and future periods. Incomg from don¥tions and lègacies Unrestricted fund$ 2025 Unr¥strlcted fund8 2024 Donations and gifts 19,376 36,390 Included in donations is gift aid of £384 {2024- £nil). Fundrnl$lng and sal• of me￿handl￿* Unrnstrlcted Unr•strfcted funds funds 2025 2024 Fundrai51ng events Merchandise sales 22,524 805 20,556 1,220 Fundraising and sale of merchandise 23,329 21,776 In¢ome from invoStm8nts Unrostrlcted Unre$trlcted funds fijnds 2025 2024 Incorne from listed investments Intarest receivablè 2.435 753 2,145 325 3,188 2.470 GEORGE CRAWFORD LEGACY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 Expenditur& on raising fund$ Unre$trlct•d Unrestrlcted funds funds 2025 2024 Fundraising and publicity Staging fundr8hsing events 9.877 11.977 Trading co¥ts Other trading activities 1,053 Investment management 1.214 1.200 Totsl costs 11,790 14,230 Charltable activitigs Charltable Charltabbo èxpenditure exponditure 2025 2024 IT & Telecomm8 Cg$ts Rent Rates incl Water 467 3,500 1.222 11,181 2,083 1,185 820 4,787 15.671 Grant funding ot acliviliès (see note 81 Share ol governance costs (see note 91 18,715 2,040 14,792 2,040 25,542 32,503 The rent costs and aSs￿lated IT, Telecorns, Water and Utilities costs relate lo the rental of units at Tweedmill from JSC Estates. The rental ceasèd during the 2025 finanaal year. GEORGE CRAWFORD LEGACY TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 28 FEBRUARY 2025 Grants payable Charitable expenditure 2024 202S Grants lo Institutions.. Borders Ice Rink Kelso Hockey Club HarperAdams Bursary Jed Thistle RFC Te Awamulu Rugby Sports & Recreation Club Scottish Pony Racing Evenlers B311 Sl Boswells Cricket Club Alnwick Rugby Club Borders Elrte Swim Team H8wick & TeviotAmateur Swlmmlng Club 1.IK)O soo 2,000 2,000 100 100 300 500 500 750 6.950 3.900 Grants lo individuals 11.765 10,892 18,715 14.792 Support Costs allo¢at•d to activitie8 2025 2024 Govemance costs 2,040 2,040 Analysed between: Ghaiilable activities 2.040 2,040 Governance costs includes payments to the accL)untants for ac￿Unts ¢ompilatlon and an independent èxamination. 10 Trustses Non8 of the trustees lor any pèrsons connected wth thaml received any rèmuneration or benefits from the Trust during the year. 10- GEORGE CRAWFORD LEGACY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 11 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than £60.000. 12 Galns and losses on invèsbnents Unrestri¢ted Unrestrictsd funds funds 2025 2024 Gainsll103sesl arising on.. Revaluation of investments 11.729 5,055 13 Taxatlon The charity is exempt from tsxation on its activities b8causo all its income is applied lor charitable PUTpose$. 14 Fixed as¥et investments Llsted Investments Cash in portrolio Total Coit or valuation At 1 March 2024 Additions Valuation ehanges Disposals 114,880 15,954 11,423 114.0371 4,540 16,890 119,420 32,844 11,423 {31,3171 117,2801 Al 28 February 2025 128,220 4,150 132.370 Carylng amount At 28 February 2025 128.220 4,150 132,370 13 Inventories 2025 2024 Finished goods and goods for resale 521 GEORGE CRAWFORD LEGACY TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025 16 Curr•nt IlabllStles 2025 2024 A¢¢ruals and deferred income 750 3,229 17 Unyestricted fund$ The unreslri¢tod funds of the ch8rty ¢omprise the unexpended balan¢&s of donation8 whid) are not subject to specffic Conditions by donors as lo how they may be usell. At l March 2024 Incoming resources Resources expended G•ins and At28 l¢Y4sesFebruary 2025 General funds 168,108 45.893 137,3321 11,729 188,398 Pr•vlous year.. At 1 March 2023 Incoming re$oure•s RgsourceB expended Galns and At29 losse8 F*bruary 2024 General funds 149,150 80,636 146,7331 5.055 168.108 18 Rèlatsd party transactions The Trust renled prèmises from JSC Estates, of %¥hich one of the Trustees is also a partner. The rent and associated costs are finance(I by donalion5 re¢elved from JSC Estatès. The rents 811 ceased during the year. 12