Charity registrauon number SCO52223 Iscotlandl DOUGLAS HAY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
DOUGLAS HAY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Charlty number ISco15•nd SCO52223 Principal addre ejo johns Smillle Ltd S Soull Gfv cScent Lane Edinburgh EH129EG IndeperKIEnt ox•minr Milchdl Edwards Chartered Certtfied Acoountsnts 24AAinsliÉ Place Edinburgh EH3 6AJ S•cr•tsry and Tr•aur•r Johnston Smillie Ltd 5 Soulh Gyb Cre$¢ent Lan8 Edinburgh EH12 QEG
DOUGLAS HAY TRUST CONTENTS Pagg Twstees, report Independent examinerfs report Slalement of financial actNilies Balare sheet Notes lo the finan¢ial statements 6-11
DOUGLAS HAY TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 The IrLSSt88$ W&gent annual rètknrt financial slalemen15 fpr Ihe yeai 31 Oclobey 2024. The finanoal statements have been prepared in accorda1 wllh the a(xounting policie5 sel out in n¢Jte 1 lo the nancial statements and comply v4ilh the dBiily'8 GI511111, the Charrties and Trustee Investment Iscotlaidl Act 2005, the Charities Accounts (Scotlandl Regula1Ktn$ 20(6 la¥ amended) and "Accotsnling and Reporting by Charitie$. Slalement ol Recornmended Practice applicable to Charities preparing thair ae(x)unts in accofdance wlth Ihg Financial Reporting Standard applie2ble in the UK and Republic ol Ireland IFRS 1021" leffective 1 January 2019) Obl•cOvos and actl¥lt The chaiity's Dbj8¢t$ 8rè to provlde rel1 to children and yDung ¥dulls in need by reason of I0-tmi physical di5abil¢ty Imeaning a long lemi physical impairrnent of IhÈ muscu10-skeletal. neurological, or [dIOre9pirt0ry System of the body and those who are registered blir)dl. who are resident in Scotland and aged eighteon y¢ars and under. by prowding grant 5UPPOrt tQW8rd$ Ihe purchase of rtem8 and sèrvices that WAI improve their li¥e$. Arhievement• •nd pvrfomiance The Trust made grarils amounting 10 £34.54012023.. £35,394 } during the year. Flnanctal +Bvl•w The inveslmerits of the Tru81 havè 8 markel value 01 £1,201,513 12Q23'. £1,059,740) and IherÈ are nel ¢urr8nl assèts of £69,32312023 £80.9901. The Trusl receThied income of £33. 12023.. £32,267) during the fin8n¢ial year and £34,54012023.. £35.3$41 was 8ppliBd in making awards. R&B•tvA& polley 11 is the policy ol the eharity to malntain fèserves at a level which will enable lh¢ charily lo geneIe suffitienl Irive51menl inwm¢ lo cover the paymenl of giants and the administrotion and support costs ol the charity. Al 31 October 2024 total bjnds amounted to £1,270.83812023'. £1.140,7301. Investment incorne remains the main soureè of Income for Ihe Fund and Ihe level of resee8 held withiii the Fund's investment porlfolio is considered necessary for the generat'on tsl a suffiaent levd of incotne lo fun¢J$ 11$ oFeralions. Structure. govpmance and m•n•gernpnt The charrty was estsblished as a Scottish ch811ble Incorporated Organisalion {SCIOI on 4 January 2023 10 Teplace Dougla5 Hay Twst fEY Cnppled Children ISC0144501. In the o)ur5e of the year Ènded 31 Octr&ber 2023 the a&se15 8nd liabilrties of Dougl8s Hay Trust for Crippled Childfen ISC0144501 were Iransfettèd lo the SCIO. DougL35 Hay Tru51 for Cripthd Children was wound up on 23 ort01 2023. Thg ¢harity'$ affairs are managed by the Strcr81ary and Treasuref, Johnston Smillie Ltd, under in5truulion frorn Ihe Tfusiees. The trustees who served dtsring the y&ai and up lo the dale of signature of the financrdl 5tstemenls were.. New tru£lees are appointed by the existing Iruslees New trustees will receive suitable Iraining from ujnlinuipg trustees 2nd the secrelaries and iTeasurer5 and wll be given a a)py of OSCR Gdance for Charity Tru51ee5. None ol trust¢e$ receivo any remuneration or bet from the charity.
DOUGLAS HAY TRUST TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2024 Th tF.Islees' ie ort ,3$ approved by the B¢ard ol Trustees. Trustee 26 Jung 2025
DOUGLAS HAY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DOUGLAS HAY TRUST I reporl on the finanryal 5talemtrnls of the chaiily lor the yeor ded 31 October 2024. whith are sel out on pages 4tol1. R•sp•¢tive re8pon8ibilitie of trt and examlner The charity's Iruslee5 are responsille for the p¥eparab"on of Ihe ffinancial statements in accordance vith the len8 of the Charth"es and Trustee Investments {S¢ptlalldl Act 2005 and the CharItS Accounts (Scollandl Regulations 2006 {as amended). The chanty's tiustees consider that Ihe audit rgquir8m8nt of RUlatIOn 10{11{a) io Icl of the 2006 Acctsunts ReguLion9 does nol apply. 11 1$ my responsibility lo exatnine the fw)aFia81 slalemenls as required under section 4dl1llcl oflhe Ad and to slate whether parlicular matters have ¢ome to my attention. Basis of indèpgndent •xaminer'$ $t¥t•m•nt My oxamination 15 carrt&l out in aGwrdan¢e wrth Regulalion 11 of the Char5tles Accounts (Scollandl Regulatrons 21X%. An exarrination include5 a re¥iÈw ol the accounting recx)rds kepl by the charity and a comparison of the rin8nGk41 stslements presenled with Ihose records. 11 also includes con5ideralion of any unusual itsrns or disc105ures in the financial stslemènls. anij seeklng explann$ from the trustees ¢(xceniing any such matters. The procedures undertaken do not provide all Ihe èvidence that would be required in an audit and ¢gns¢qu6nlly I do not expie55 an audil opinion on the view given by lh¢ financial stalèmenls. Indop•ndont •xmlnerfs statèment In Conne1¢n with my 9xamination. r¥) matter has ¢ornÈ lo my attenlion.. lal gNe$ rne reasonable to b*lie that in any material respect thè requirerrEnts= lo keep 8¢counling re(xJrds in acrIanCe wslh section 44111 lal of the 2005 Act and Règulation 4 of the 2006 Attounls Regulations". and IMI lo piep819 fjnanu81 statements which accord with the ?oUntIng ¥ecord$ and comply with R8gulaty)rs 8 01 the 20A(Ol1s Regulations., l)ave not beon mot or {b) to which. in my opinion. attention bo drawn in order io enabla a propor underst8ndirrfJ of thè financial 5tateTnenlS to be ¥eÉchèd. Relevant professional body. The AssaGiation ol Chariered Certified A¢coLintanls Mitchell Edwards Chartered cerlif1 Accountants 24A Ainslie Ilace Edinburgh EH3 6AJ
DOUGLAS HAY TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestrlet•d Unrestiictèd Endowment funds funds funds 2024 2023 2023 Totsl 2023 Notss In¢ome frt¥m: Inveslmenl income 33,585 32,267 32.267 Expendlture on: RaisirrfJ funds 8,182 7,724 7,724 Chaiitable activities 45,957 49,402 49.402 Totsl expenditure 54,139 57,126 57,126 Nel gain611105sesl on investments 11 150.e80 121,257} 121.2571 Gr05S transfers beeen funds Net movemtrnt in lunds 1,138,748 (1,138,748} 130,106 1,092,632 11,138,748} 146,1181 Fund balances at 1 Novemb¢r 2023 1.140,730 48,098 1,138,748 1,186,846 Fund balan¢es at 31 October 2024 1,270,836 1,140.730 1,140,730 The slalemenl tsl finan¢i818divtties include5 all gains and losses renISed in the year. All income and expenditure derive from nts"nu1ng aciivities.
DOUGLAS HAY TRUST BALANCE SHEEr AS AT31 OCTOBER 2024 2024 2023 Nvles Flx¢d asset• Investments 13 1,201,S13 1,059.740 Current a53ets Debiors Cash at bank and in hand 14 1.466 70.361 84,170 71.827 85,180 Crèdltors: amounts falllng due th1fi on• y•ar 15 12,5041 (4,1701 Net cuNent assets 69,323 80,990 Totsl less currnnt liabllille8 1,270,838 1,140,730 Incom• fknnds unreStrted funds 1,270.836 1.140.730 1,270.836 1.140.730 ed by the Trustees on 26 June 2025 Tru•t•g
DOUGLAS HAY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policles Charlty Infomiatlon The charity is a registered ¢harty in Scotland and is incofporated as a Scottish Charhable Incorporaled Organisation. The addross of the principal Offi is clo Johnston Smillie Ltd, 5 South Gyle Ciescenl Lane, Edinburgh EH12 gEG. 1.1 Accountlng convention The financial slalemenls have been prepared in ac¢oid3nce with the charity's ¢onslilution, the Charilte$ 8n¢J Trustee Investment Iscollandl Act 2005. the Charities Accounts (Scollandl Regulalions 2006 las amended), FRS 102 °The Financial Reporting Stand8rd applicable in the LIK and Rèpublic of Ireland. I"FRS 102.1 and the Charities SORP 'AountIng and Reporting by Charities.. Slalemenl ol Recommended Practice applicable to charities preparing their 8c¢ounls in acco¥dance with the Financial Reporting St8nd8fd applicable in Ihe UK aNI Republic of Irel8n(J IFRS 102)" (effective 1 January 2019}. The charity is a Public Benefit Entily as defined by FRS 102. The charity has taken advantage of the provlsions In the SORP for small chari'e5 not lo prepare 8 Slalement of Cash Flows. The finan¢bal $t81emenl$ are prepared in sterling, whith is the fun¢tSonal currency of the charity. Mot)etary amounts in these financial statements are rounded lo the nearest £. The financial statemènts have been prtspaied under the historical cost cxnvents"on. modified to indude invèstments at fair value. The principal accounting policies adople(l are set out below. 1.2 Golng c¢Jncern Al the lime of approving the financial stalemenls, the Iruslees have a reasonable expectation that Ihe charity has adequate resources to continue in operational existence for the foreseeable future. The trustees Iherefwe eontinue lo adopt the going concern basis of a(tounting in preparing the financial slalemenls. 1.3 Charitable fund$ Unrestricted funds ale available for use at the discretion of Ihts Iruslees in ftjrtherance ol Iheir Charitable objectives. The ¢har¢ty has no restricted funds or endowment funds. 1.4 Income Income 1$ recx)gnis&d when the ch31ty is legalty entitled to it after any perform8ni* conditions have bèen mel. the 8mounts Can be measured reliably, and it is probable that income will be received. 1.5 Exp¢ndlture Lsabilities are recognised as 8Kpendilurè 89 soon as there is a legal Or ¢onslructive obligalion committing the charity to that expenditure, il 15 probable that settlement will b8 requireil, and the amount of the obligation Can be measure(I reliably. All expendrture is accounted lor on an a¢ual$ basls. 1.6 Fixed 4$$et investrnerrts Ftxed asset investments are inttlally measured at transaction price excluding Iran$¥¢tion costs, and are subsequently Tneasured al fair value at each reporting dale. Changes in falr value are recognise(l in nel incornellexpenditiirel foi the year. Transaction costs are expensed as incurred. 1.7 Cash and cash egulvalents Cash and ¢ash equwalenls include cash in hand, deposits held al ¢811 with banks, other short-term liquid investments with original rnaturities ol three months or less. and bank overdrafts. Bank overdrafts are shown within bom)wings In current liabilities.
DOUGLAS HAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting pollel•s Icontinuedl 1.8 Flnanclal in$truments Financial instruments comprise fin8n¢ial assets and finanrAal liabilities which are initially re¢ogni$ed al Iran5aclion value and subsequenlly mèasured at their settlement value with the exception of investments. Inveslmenl$ are measured initially al their Iransaclion value and subsequently measured at their lair value a5 at the balance sheet datè using the closing quoted market price. The slalement of financial activities includes the net gains and lossès arising on revalualions and disposals throughout the year. Reallsèd gains and105se All gains and losses are taken lo the statement of financial aclivilio$ as they arise. Realised gain$ and lossès on inveslm¢nts are calculaletl as the drfference beeen sales and proceeds and their opèning rarrying value or purthase value if acquired subsequent to the first day ol the finan¢ial year. Unrealised gain5 and10sses arg ¢xlculaleO as the difterence beeen fair value at the year end and their Carrying value. Realised gains and losses are combined in the statement of fina¢la1 activth'es. Financittl In$trum•nls m•asurod at fair v•lv• Finanaal Inslrurnenls measured at fair value comprisè listed investments. Fixed asset investments, on which the ongoing financial sustsinability of the charity depends, are considered to carry a signifiGgnt risk 0¢ material adjustment. The main risks lie in the combination of uncertain investment markets and vol81ility in yi6Id. 1.9 Debtorn Debltsrs are rgcognised at the settlement amount due. Prepayrnenls are valued 8t the prepaid amount. 1.10 Creditor5 and provl$lons Creditors and piovisions are recognised where a present obligation from a past event will probably resull in Ihe transfer of fund5 lo a third party and the amount lo settle the obligatson can be measured or estimated reliably. Creditors and provisions are normally recognised al their settlement amount. Crilical a¢¢ountlng estimates and ludg¢ments In the application of the charity's accounting poli¢ies, the trustees are required lo makfr judgements, estimates and assumptions about the carryin9 amount ol assets and liabilities that are not rèadily apparent Ifom other 50urce5. The eslitnales and associated a$51JTnplions are based on historical exppiien¢e and other taclors Ihal are considered to be relevant. Actual results may dtffer from these estimates. The estimates and urKlertying assumptions are reviewg¢J on an ongoing basis. Revisir)ns lo accounting estimates are Tecognised in the period in which the estimate is revised where the re¥i5ion affg¢ts only that period, or in the period ol the ievision and fulure period5 whère the revision affects both Guirtrnl and future pèriods. In the opInn ol Ihe trustees Ihere are no critical accounting eslimales or judgements applicable lo these fin8nrAal 51alements.
DOUGLAS HAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 In¢omo from Inve$tments Unr¢$trlctÈd Unresthct•d lund$ funds 2024 2023 Income from listed investments Interest receivable 32,315 1,270 32.071 33.585 32,267 Raising funds Unrestrlctsd Unrestricted funds funds 2024 2023 Investment management 8,182 7,724 8,182 7,724 Expenditure on charltsblfr activities Charitable activities 2024 Chorltsble actl¥lties 2023 DiTt¢t ¢0gts Bank Chargtrs 60 26 Grant funding ol activÉknvs (see note 61 34,540 35.394 Share of $upport and goYeman¢e ¢08t818ee note 71 Support Governance 9.558 1,799 9,282 4,700 45,957 49,402 Anatysis by fund Unrestticted funds 45,957 49,402
DOUGLAS HAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Grants payablè Grants payable 2024 Gr8nl$ payable 2023 Grants lo indiwduals 34.540 35,394 34,540 35,394 During thè year, grants were made lo sponsoring bodies for the benefit of 4212023.. 441 individuals. Support costs Support Gov*mance costs Costs 2024 Support Govemance ¢o$ts costs Z023 SecTelary an4Y T3$11r&r Websrf(e 9.240 318 9,240 318 8,400 882 8.41X) 882 Independent examination fees Legal and prolessional 1,764 35 1,764 35 1,752 2,948 1,752 2,948 9,558 1.799 11,357 9.282 4,700 13.982 Analysed beeen Charitable actwilies 9,558 1.799 11,357 9.282 4,700 13.982 Net movèment in funds 2024 2023 The net movernenl in fund8 IS staled after chargingllcreditingl.. Fees payable for the independent examination ol the charity's f5nanrAal statements 1,764 1,752 Tru$tse$ None of Ihe Iruslee5 loi any pèrsons connectèd with them} re¢enied any remuner8tion or benefits from the charity during the year. 10 Employeès There were no employees12023'. nonel.
DOUGLAS HAY TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024 11 Net galnslllos$9s) on inve5ljnts Unrestricted Llnr8$lricted funds funds 2024 2023 Revaluation ol investments Gainll10s51 on sale of investments 133,458 17,202 132,8601 11,803 150.660 121,2571 12 Taxation The charÈiy is exempt from tsxalion on its acts'vrties beuse all its income is applied for charitable purposes. 13 Flxed •$•et investments LiBted InveBtmgnts Cash In porttollo Total Cost or valuatlon At 1 November 2023 Additions dlualion changes Disposals 1,04fj.957 184,513 133,458 1172.4361 12,783 1,059.740 184,513 133,458 {176.1981 13,7621 At 31 October 2024 1,192,492 9,021 1,201,513 Carylng amount Al 31 October 2024 1,192,492 9,021 1,201.513 At 31 Odober 2023 1.046,957 12,783 1,059,740 14 Debtor8 2024 2023 Amounts falling due within one year: Other debtors 1,466 15 Credltorn: amounts falling du• within one ye•r 2024 2023 Accruals and delerred InMe 2,S04 4,t70 10-
DOUGLAS HAY TRUST NOTES TO THE ACCOUNTS {CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2024 16 Unrestricted funds The unfeStrted lunds of the chanty comprise the 4Jnexpended funds which are not subject 10 5pe¢ffi¢ conditions by donors and granlors as to how they may be used. These include designated funds which have been sel aside out of nstriCted funds by the Irusl¢es for speafic purposes. Atl November 2023 Incoming resources Ro$our¢os expended Trnnsfers Gains and Al 31 O¢tober losse$ 2024 General funds 1.140.730 33.585 154.1391 150.660 1,270,836 Prevlous year: At1 November 2022 Incoming rggources Resour¢¢s expended Transfers Gains and At 31 O¢tobgr losses 2Q23 General funds 48,098 32.267 157,1261 1,138,748 121,2571 1.140,730