Charity regi$tration number SC052223 Iscotlandl DOUGLAS HAY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
DOUGLAS HAY TRUST LEGAL AND ADMINISTRATIVE INFORMATION TN$t¢•s Lady K M Hope MrWTAHope Mrs J 8 Holmes Mr J L Pearse Mrs L Cowie Charity numbgr Iscotlandl SCO52223 Prln¢lpal addr•s$ clo Johnston Smillie Ltd 5 South Gyle Crescent Lano Edinburgh EH12 9EG Independent examiner Mark T Edwards FCCA Mitchell Edwards Chartered Certified Accountants 24AAinslie Place Edinburgh EH3 6AJ Secretary and Trea¥urer Johnston Smillie Lld S South Gyle Crescent Lang Edinburgh EH129EG
DOUGLAS HAY TRUST CONTENTS Page Trtsslees. report Indepèndent examiners ptsrt Statement of financial activities Balae sheet Notes to the finana5 slalements 6-11
DOUGLAS HAY TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2025 The Iruslees present their annual report 8nd flnancial slalemenls lor the year ended 31 October 2025. The financial statèments have been prepared in acGoid3n¢e with the account.ng poliaes set out in note 1 to the finanual statèmènts and comply with Ihe charity'5 constilulion, the Chartties and Trustee Investm&nt (Scollandl Act 25, the Charfiies A)llnts (Scotlandl Regulations 2006 las amènded) and "Accounting and Repothng by Charits'es.. Stalernenl of Recommended Practice applicable lo ch8ritiès preparing their accounts in accordance with Ihe Finanaal Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021" (effective 1 January 20191 Obje¢¥ve$ and actlvltles The tharity's objects are lo piovide relief to children and young adu115 in need by reason of long-lem physical disability Imeaning a long lemi physi¢al impairment of the rnusculo-skeletal. neurological, or cardiorespiT8tory system ol the body and those who 8re iegistered blindl, who are resident in Scolland and aged eighteen year5 and under. by providing grant support towaTds the purthase of items and services that will improve their lives. Achievements •nd pèrfomiance The Twsl made grants amounting to £43,78712024'. £34,540) during the year. Financial review The investments of the Trusl have a market value of £1.306,590 12024.. £1,201.5131 and Ihere are nel CUTrenl assets 01 £46,518 {2024.' £69,323). The Trust Te¢eived income of £32,021 12024.. £33.5851 during the financial year and £43,78712024.' £34,540) was applied in making awards. Net expendiluTe before investment gains was £31.445 12024." £20.5541. The trustees are content for the charity lo operate al a deficit in order lo maximise the amount di511ibuled to bèneficAaries. The performance gf the investment portfolio has meant that the npl asset$ of the charity have remained at a satislactory level despite the optrraling deficii. R¥$?rves policy It is the policy of the chafity to maintain reserves at a level which will enable the charity lo generate sufficient inveslmenl incorne to permit the payment of grants and the administratlon and support costs ol the charity wilhoul signfficantly eroding the overall resetves position. Al 31 October 2025 total funds arnounled lo £1,353,10812024'. £1,270.8361. Investment incorne remains Ihe Tnain Source of in¢ome lor the Fund and ihe level of resetvos held within the Fund'5 investment portfolio is considered necessary for thè generation ol a suffient level of income lo funds its operations. Structure. governance and fflanagem*nt The ¢harily was established as a Scottish Charrtable Incorporated Organi5alion ISCIOI on 4 January 2023 and is govemed by ils Constitution. The charity's affgirs are managed by the Secretary and TaSurer, Johnston Smillie Ltd, undei inslrudion from the Truslees. The Iruslees who served duying the year and up to Ihe dale of signature of the finaneial statements were= Lady K M Hope MrWTAHope rs J B Holmes Mr J L Pearse Mrs L Cowe New trustees are appointed by the existing tmstees. New trustee5 WIN recefve suitable training from ¢onlinuing trustees and Ihe secrelaries and treasurèrs and will be given a copy of OSCR Guidance for Charity Trustees. None ol the trust8es receive any remuneration or btrnefit from the charity.
DOUGLAS HAY TRUST TRUSTEES, REPORT (CONTINUED} FOR THE YEAR ENDED 31 OCTOBER 2025 The trustees, report Was approved by the Board ofTruslees. Lady K M Hope Tfustee 30 Jtsne 2026
DOUGLAS HAY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DOUGLAS HAY TRUST I report on the finartcial stslemenls of the charily for Ihe ye8r ended 31 October 2025, which are set out on pages 4t011. Respectlve responsibilities of tru$te•$ and examlner The charity's trustees are responsible for Ihe PTeparatson of the financial statements in accordance with the temis of the Charities and Trustee Inveslmenls (Scotlandl Act 2005 and the Charities Accounts Iscollandl Regulations 2006 las amended). The chaiity'5 tfuslees consider that the audil requirèment of Regulation 1011lla} lo Icl of tho 2006 Accounts Regulations doe5 not apply. It is my spOnSibl11tY to examine the firsanoal statements as reqUid under section 4411llc) of the Act and lo stsle whèthèr particular rnatters have come lo my attention. Basi$ of indondent examlnerf5 Statement My examination is carried out in accordance with Regulattron 11 01 the Charities Accounts Iscotlandl Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the ffinancial slalements presented with those recoids. It also includes consideration of any unusual items or di5d05ures in the financial statemenls, and seeking explan8ligns from the trustees conceffiing any such matters. The procedures undert8ken do not provide all the ewdence that would be required in an audil and consequently I do not express an audit opinion on the view given by the finan¢ial statements. Independent examiner's ststement In connection with my examination, no matter has come lo my attention.. (al which givfrs me reasonable cause to believe that in any material respect the requ1mentS.. to keep accounting records in acrdanCe with section 4411}181 ()f the 2005 Act and Regulation 4 of the 2006 Accounts Regulalior15'. and (ill to prepare finan¢i81 $18téments whh accord with the accountin9 records and comply wrth Regulation 8 of Ihe 26 Ac£ounls Regulations., have not been mel or {bl lo whi¢h, in my opinion, attention should be drawn in order to enable a proper understanding of the financi81 statéments to be reached. Mark T Edwards FCCA Relevant professional body.. The Association of Chartered Certified Accounlanls Mitchell Edwards ChaTtered Certified Accovntants 24AAins1ie Place Edinburgh EH3 6AJ Dated.. 1 July 2026
DOUGLAS HAY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2025 Unrnstrlcted Unrestrlcted funds funds 2025 2024 Notss Income from: Investment income 32.021 33.585 Expenditure on: Raising fvnds 8,4 8,182 Charilable activilies 54,976 45.957 Totsl eXndIture 63.468 54,139 Nel gainsl{lossesl on investment5 11 113,717 150,660 Net movement in fund5 82,272 130.106 Fund balan¢es at 1 Novembei 2024 1,270,836 1,140,730 Fund balances at 31 October 2025 1,353,108 1,270,836 The statement ol financial aclkvities in¢ludes all gains and lo&ses recognised in the y8ar. All income and expenUre derive from conlinuing a¢twilies.
DOUGLAS HAY TRUST BALANCE SHEET AS AT31 OCTOBER 2025 2025 2024 Notes Fixed assèts Investrnents 13 1,3Ce,590 1,201,513 Current a$$ets Debtors Cash at bank and in hand 14 1.627 47,461 1.466 70,361 49,088 71,827 Credltors: amounts falling due wlthln onè yèar 15 12,5701 12,5041 Net current assets 46.518 69,323 Totsl assets less current liabilltles 1,353,108 1,270.838 Income funds Unreslricled fvnd8 1,353,108 1,270.835 1,353,108 1,270,836 The financial 51alemenls were approved by the TruslÈes on 30 June 2026 Lady K M Hope Trustee
DOUGLAS HAY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 A¢countln9 pollcies Charlty infornutlon The charity is a registered charity in S¢olland and is incorporated as a Scottish Charrtable In¢orporaled Organisalion. The address of the principal offi is clo Johnston Smillie Ltd, 5 South Gyle Crtrscent Lane, Edinbur9h EH12 9EG. 1.1 A¢¢ountlng convention Thts finan¢i815t8temenls have been prepared in accordancè wilh the charity's conslilution, the Charities and Trustee Investment (Scotlandl Act 2005, the chare5 Accounts IScDllandl Regulations 2006 {as amÈndèdl, FRS 102 °The Financial Reportin9 Standard applicable in the UK and Republi¢ of Ireland. {"FRS 102.1 and the Charrties SORP "Accounting and Reporting by Char.es.. Statement of Recommended Pra¢ti¢e applicable to charities prèparing their 8¢¢ounls in accordance with the Financ4al Reporting Standard applicablts in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Th¢ charty is a Public B8nefil Entity as defined by FRS 102. The charrty ha8 taken advantage of the provisions in thè SORP for sm811 tharilies not to prepare a StatÉmenl of Cash Fl¢)ws. The ffin8ncial statements afe prepared in sterling. which 15 thè functional currency of the rharity. Monetary amounts in these financial stalernent5 are rounded lo the nearest £. The financial statements have been prtspared under the historical cost ¢onvention, modified lo include invèstments at fair value. The prÈnupal a(tounting polic$ adopled are sel otjl below. 1.2 G¢lng concem At the lime of approving the financyal slatemenls, the trustees have a reasonable &xpectation that the charity has adequate resources to continLte in operational existenc¢ for the foreseeable fvlure. The trustees thefOre continue to adopt the going concern basis of a¢counlitTg in preparing the financtral slatemenls. 1.3 Charitabltr lund8 UnrÈstrtct funds are av8Slable for use al the discretK)n of the Irust8es in furtherance of their charitable obiectives. The charity ha5 no restrided funds or endowment ftjnds. 1.4 In¢omÈ Income is recognised when the charity is legalty entitled to tt after any performance rKI]IOn5 have been met. the amounts can be measured reliably, and it is probablo that income will be received. 1.5 Expenditure Liabilities are recognised as exppndilufe as soon as there is a le9al or constructive obligation ¢ommrtting the charity to that expénditure, it is probable that settlement will be required, and the amount of the obligation can be rneasud re5iabSy. All expenditure is accounted for on an a¢cruals b8s58. 1.6 Flxed asset Investments Fixed asset investments are in((ially measured al trdnsaction pri exduding Iransaction costs, and are subsequently me8$ured at fair value at each reporting date. Changes in fair value ale recognised in nel rKomellexpeniJilurel for the year. Transaction costs are expensed as incurred. 1.7 Cash •nd eash •quivalents Cash and ¢ash equivalents include cash in hand, deposits held at call With banks. other short-lemi liquid investments wEth original maturilies of three months or lèss, and bank overdrafts. Bank overdrafls are shown within borrowings in CUTrenl liabililies.
DOUGLAS HAY TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 Accounting policles IContlnued} 1.8 Flnanclal Instruments Financial inslrumtrnts Comprise financial assets and finanaal liabilities which are inilialty recognised at transaction value and subsequently measured al their settlement value with the excèption ol investments. Inveslments are measuréd initially al their transaction value and subsequently measuied at their lair value as at the balance sheet dale using th$ dosng quoted Market pri¢e. The statement of financial acbvities indudes th8 net gains and losses arising on revaluations and disp05815 throughout the year. Reall$ed gains and losses All gains an¢Y losses are taken to the statement of financial actwilies as they arsse. Realised gains and losses on investments are calculated a5 the difference bptween sales and proceeds and their opening carrying value or purchase value il acquired SUbseqLnI to Ihp ffirsl day of the financial yeai. Unrealised gains and losses are calculated a5 the dIrènCe behveen fai¥ value al the year end and their carrying valuo. Realised gains and bsses are combined in the slalement of financial activities. Financial Instruments Measur at fair value Financtal Instrumenls measured al fair value compiise listed investments. Fixed asset investments, on which the ongoing finanaal sustainability of the charity depends. are nsIdered to carry a significant risk ol material adjustment. The main risks lie in the combination of uncertain investment markets and volatility in yield. 1.9 Debtors Debtors are recognised at the Set1ment amount due. Prepayments are valued al the piopaid amount. 1.qo Creditors and provision Crfrdilors and provisions ale re¢ognisèd where a present obligation from a past event wll probably result in the transfer of fijnds to a third party snd the amount to settle the obligkn.on can be measured or eslimaled reliabty. Credtloys and provisions are nomially recognised at their settlemgnt amount. Critical accounting èstimates and judgements In thè application of the charity's awountin9 policies. the Iruslees are required to make judgeTll&nls. eslimales and assumptions about the oarrying amount of assets and liabililios that are not readily app8nt from other SQUfces. The estirnates and asso¢iated assumptions are based historical experience 8nd other factors that are considered to be relevant A¢lual results may differ from these eslimales. The eslimal8s and underlying assumplton5 are reviewed on ar* ongoing basis. Revisions lo accounting estimates arè rècognised in the period in which the estimate is revised whère the revision affects only that period, or in thè period ol the revision and ft>ture periods where the revision affeds both current and future periods. In the opinion or the trustees Ih8re are no critieal accounting estimates or judgements Applicable to these financial stalemenls.
DOUGLAS HAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 Income from investments Unreytricted Unrw4tri¢ted lunds fund$ 2025 2024 In¢x)me from listed investments Interest receiv8ble 30,826 1,195 32,315 1.270 32,021 33,585 Ral$lng fund$ Unr•sthcted Unrestricted funds funds 2025 2024 Inveslment m3n8gemenl 8,490 8,182 8,490 8.182 Expenditure on ¢harltabl& a¢tEvlJe$ Charltsble actlviti&s 2025 Charitablo activitles 2024 Dlrect costs Bank Charges 60 Grant funding of activit$ (see note 61 43.787 34,540 Share of support and yovernanc• costs (see not• 7) Support Governance 9.252 1.877 9,558 1.799 $4,976 4S,957 Analysls by fund Unresliicted funds 54,976 45.957
DOUGLAS HAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 Grants payable Grants payable 2025 Giants payable 2024 Grants to indiwduals 43.787 34,540 43,787 34.540 During the yeai, grants were rnade lo swnsoring bodies for the benefit of 4712024.. 421 individuals, Support costs Supp¢rt Govèmancè eosts ¢o$ts 2025 Support Govemance eosts costs 2024 Secretary and Treasurer Website 8.640 612 8,840 612 9.240 318 9,240 318 Independent examination fees Legal and professional 1,830 47 1.830 47 1.764 35 1,764 9,252 1,877 11,129 9.558 1,799 11,357 Analysed beeen Charitable aclwilies 9,252 1.877 11,129 9.558 1,799 11,357 Net movement in fund$ 202S 2024 The net movement in fun¢Js is stsled after chargingllcredilingl.. Fees payable for the independent examination of the ¢harity's financial statements 1,830 1.784 Trustee$ Nonè of the Iru5tees lor any persons connected with them) received any remuneration or benefits from the charity duiing the year. 10 Employees There were no employees12024.' none).
DOUGLAS HAY TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2025 11 N•t gainslllo$$e81 on inVestmts Unrestricted Unreslri¢led funds funds 2025 2024 Revaluation of investments Gainllknssl on sele ol inveslrT5ents 108,397 5,320 133.458 17,202 113,717 150,660 12 Taxatlon The chartty 15 exempt from taxation on ts ath"vities because all its incomÈ is applied for charitable purptsses. 13 Flxed asset Investments Listed Inve3tmgnts Cash in portfollo Totsl Cost or valuation At 1 November 2024 Additions Valuation changes Cash movements Disposals 1,192.492 245.(8 1 L18,397 9,021 1,201.513 245,068 108,397 6.373 1254.7611 6,373 {254,7611 At 31 October 2025 1,291,196 15,394 1.306,590 Carrying amount At 31 Octobof 2025 1,291,196 15,394 1,306,590 At 31 October 2024 1,192,492 9,021 1,201,513 14 Dobtors 2025 2024 Amounts falllng duè withln onè yèar. Other dpblors 1.827 IS Cditors. amounts falling due wlthln one ygar 2025 2024 A¢al8 and deferred income 2,S70 2,504 10
DOUGLAS HAY TRUST NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 16 Unrgstrleted funds The unresliirted funds of Ihe charty ¢omprise the unexpended funds which are not subiect to specrfic conditions by donors and grantor5 as to how they may be ijsed. These include designattrd funds which have been set aside ovl of unrestricted funds by the trustees for specrfic purposes. At1 November 2024 IneomSng resources Rt$our¢os expended Gains and At31 OCtor losses 2025 General funds 1,270,836 32,021 163,4661 113,717 1,353,1 C>8 Prevlou¥ ygar.. At1 November 2023 In¢omfng resourcgs ResouT¢¢$ expended Galns and At 31 O¢tobgr losses 2024 General funds 1,140,730 33,585 154,139} 150,660 1,270,836 11