HERON PICKSTOCK TrUST REPORT OF THE BOARD OF TRUSTEES AND FINANCIAL STATEMENYS FOR THE YEAR ENDED 30 SEPTEMBER 2024 SCOTTISH CHARITY t4UMBEK. SC052422 HERON PICKsfocK TRUST corirENTS Charity Information Report of the Board ofTrustees Independent Examiners. Report Stat•ment of Financial Actr¥rf(ies 8alan¢e Sheet Notes on the Financial Statements 7-10 HEAON pia(STOCKTRusr OIARITY INFORMATIC*4 LE6AL PIANE: Heron Pi¢kstock Trust SCOThSH CHARtrY NUMBE SCO52422 PRINapAL ADDRESS". BOARD OF TRUSTEES: BANKERS: Handelstsnken Edinburzh East 5th Flr. Waverlry Gate 24 Waterloo Place Edinburih EHI 3E INDEPENDENT EXAM114EIL' MHA 6 St Colme Street Edinbuoh EH3 6AD HEROPI PICKSIOCX TRU TRUSTEES. ANNUAL REPORT Fty the year ended September 2024 Heron Pickstock Trust W75 first registered wrth the Offi¢e of the S¢ottish Charrty Regulator IOSCRI on 21 Marth 2023. The Trnstees present their annual report and the financial statements for the year ended 30 September 2024. its first fvll financial yearof operation. OBJEcnvES ANO Acnvrn£s ObJectl¥es The principalobjedives of the charityare toir4e backtothe community by helpTrng the dtr5advantsged through edu¢atic•n, health or other purpose that theTrustees think frt. TheTrustees have referred to general gutdance on pullic benefit when reviEwiw4 th• aims and objectives in planning arttvities. Artivittes and perfomiance The focus of the charity overthe period. gNen its recent fonnation. has been to rEceive funds into the charity from 115 seed donors. Over the period. the charty recer¥ed donations 01 £426,690. The charity's intention is to continue to attract donations snto the charity. and then will start to disburse these funds to make grants to indrviduals and org3ni5ations. FIIIANCIAL REVIEW Results trthe pejfod The charity received donations in the period of £426.6￿, consisting of cash donakn.ons and gifts of shares. Reserves pdi¢y Cons¢deration will be grven tp an approprièts reserves poly once a¢tNit*s have been fvl established. 5TRucfuRE. GOVERNANCE AND MANAGEMEMT Constltutlon The Heron Picknock TTUSt is a Charitab￿ tmst governed by its Trust Deed dated 11 MaKh 2022. It is registered as a charity wrth OSCA from 21 March 2023. Management The Trustees oversee all acttvtties of the charity ènd all decisions are by majorrty vote at Board meetings. None of the TTh￿ee$ receNe any remuneration in theircapacity as Trustees. Recrultmert and appoTrntment of Trustees The Btsard may, at any time. appoint any person to be a Trustee of the charrty, by way of a resolution passed by majorityvote at 3 8oard meeting. The Board shall have the [￿ert0 remove any individual as a Trustee. by way of a res01￿￿n passed at a Board meetin& by a majority of those Trustees that are not subjert to the proposed resolution. Induction and training olTrvstees Trustees are provided wilh opportunrties fordiscussion. and receNed traini￿ to ensure that they are aware of, and are able to discharge. their resw)nsibilitie5. HERON PICKSTOCKTRUST TRUSTEES, ANNUAL REPORT Forthe y&¥ended 3) SEPtembtr 2024 FUTURE OEVELOPMEKIS In the near tem, the eharws irtentSOn 15 to continve to recer4e donations into the tharty. It wlll thèn start to disburse these fu7ds to provkle gTrnts to 1ndwKI￿l5or1I cr8anisatk)n%. Trustees'2024 Respi)n%bilitle5 &atemert 7heTrLtstee5 are rEsPOnSit4e lor prewing the Tntstee< Afin￿l ReFQrt and the financial 5tstements In èctordante with applItsb￿ law and United Kingdom AccountinK Stsndards Iunited Kingdom GeneraltyAccepted Accounti￿ Pradicel. Thè law ap￿1¢able te Chanties ir Scotland requires the Tr￿tee5 to prewe finandal statements for each financial period which ghie a true and fair view of the stste of affairs of the charity and of the incoming reso¢xces and application of resources of the chanty for that penod. In preparing these financyal statements. the Trustee5 are required to: sdect suitsble atcounts.ng policits and then apththem ¢oDsi5kntly. observe the methods and prinC￿leS in the Charity SORP 2019 IFRS 1021: make judgements and esbmates that are reasonable and Pr￿lent. state whether appli¢able actountng standards have been folk•wed. subject to any material departure5 disctosed explained in the finaTrcial Staten￿nts.. and preparethefinantial ststemeThts on thegoir* toncem unless it is inappropriatelo presume that the charrty WFII continue bn operation. The Trustees are ￿spOnsIble for keepin8 prorAr acCo￿tIng records that disck*se wrth reasonable curacy 3t anytirne thefinan¢ial ptssition of thè charty and enable them to ensure that the financial staternents cornpty with the CharFties and Trustee 1miesDnent (Scotèndl Act 2W5, the Charities Accounts Iscotlandl Regulati￿$ 2006 las arnerKledl and provision5 01 tharws constitut(on. They are also res￿nsib￿ for safe8uardin8 the assets of the charity and ￿￿¢* for taklng reasonal￿e Steps for the PreVent￿n 3fKI detettLtn of traud and other iffegularft*s. This rep)rt was a rove tne TrLStees on 3 June 2025 and 5*Ded on behaf by.. njstee HERON PICKSTOCKTrUST I￿lEpENDENT EXAMINERS. REPORTTOTHE TRvsfEES OF THE HER(Y4 PICKsfocK TRLIST I report on the financial sfaten*nts of the charity for the year ended 30 September 2024 which are set out on pages 5 to 10. Respe¢ty¥e rewsibifltles oftmstees emaminw The chariWs trustees are resF￿nsib1e for ihe W*p￿tiOn of the finaneial statements In accordante wrth the termsol the Charsties andTrustee Investment1Scotlandl Act the ChantiesAccounts Iscowandl Reg¢Jlations 20D6. The char￿¥ trustees consKler that the auor( requirement of Règulaiitsn iolll lal to Icl of the Accounts Regulatrons does not appty. It is my responsibilrty to examine the financlal ststements as required under Sert￿￿ 44(1) {cl of the Art and to Stare whether particul)r matters have come to myattention. Basls of Independert examlnerfs smemert My examlnatlon IsCarr￿d OL* In accordancewth Regulatlon 11 of the 2(m)6AtcO￿ts R￿ulatIonS. An examlnatlon lficludes a revsew of thè acco￿tIng rèords kept by the charoty and a compartson of the flnanclal statements presented wfth th￿ records. It also inclLKles cons6deratlon of afty unusual iterns Dr disclosures in the financial statements, and seeks explanation5 frLYn the tntstees concerning anv such matters. The prottedu￿S unde¥raken do nL* womde all the evithnte that Ibould be required In an audlt, and conSeq￿nIty I do r￿1 express an audlt Opl￿n on the vlewl 8fven by the financlal 5tatementS. Independent e￿￿1￿erf5 slatement In the course of my exarnknaik>n. matter has con* to rny attenth?n'. whlch me Trasonabkn cause ro belfjeve in any materlal respKt the requirements". to keep accounti￿ rEconls in a¢roftSanee wlth Sectlon 44tll lal of the 2CrfJ5 Act ènd Rel￿at￿n 4 of 2006 Acco￿ts Re8ulatbns: and to Fvepart f1ttaltl￿ ststernents whlch actDrd wlth thè accountlre ￿e0rd$ and comi wrth Regulatlon 8 ofthe 2QD6 kcounts Regulaiions- hzve not been mei ¢Jr to whlcb. In my oplDlon. attenitjn sltouk1 te Irawn ln orfer ro enable a proper undersEandlnB tements to be reathed. 3 June2025 epen ent ExamineF MHA Chanered Accounwts 6 5t Colme StTret Edinburgh EH3 6AD HERON HCK5focKTrusr STATEM£Nf OF FINANQAL AcfMTIES Forthe period ended 30 September 2024 Note Unrestrtrted Unrestrlrted 2024 2023 Income fram: Donations and legacie5 Investment income 426.690 5.978 Total income 432,668 Expendfture on: Charitsble activities 17.0621 Total expendltsire 17,0621 Net Income before galns (m Investments 425.606 Net gains on investrnents 116 Net Income forth• perfod and net movement In fim Retontlliation ot funds Funds at 30 September 2024 425.722 425.722 Thè statement of financial acti¥itKes inclLhdes all zains and losses rec￿niSed in the per40d. HERON PICK5fiKK TIIUSr BALANCE SHE as * 30 5eptember2024 Nrte 2024 2023 (urr•tt assets Investments Debtors Cash at bank 401,806 5.978 19.438 427,222 •blllties Creditors fallin8 within one year i.soo et assets 425.722 Reserves Unrestrietsd fvnds 9.10 425.722 The financial state￿nts We￿ apW0￿d and autPKYised i55uE by the Board of Trustees on 3 June 2025 and were svdned on rheir behalf bv.. HERON PICX5focK TRU5r NQTESTOTHE FINANOAL STATEMENTS For the ended 30 Septern￿ 2024 Acc¢xmtln8 polldes The sitnifi¢ant aC￿l￿ting policies adopted in the prep3rat40n of these financial statements are set OLrt bekjw. These policies have been consistently apF4ied to all period5 presented unless otherwise stated. al Bays of a¢(￿nt￿rt The financial statements have been prepared on a going concern basis under the historfcal cost ¢onvention. The financial statements are presented in sterlint whith ￿ the functional currency of the chanty and rounded tothe nearest £. The financial statements have been prepared in accordance wrth the CharitVè5 and Trustee Investment (Scotlandl Att 2ts35, the Charities Accounts Iscotlandl Regulations 2006 las amended). AccoLEnting and Reporting by Char[t￿5.. Statement of Recommended PractKe pplicable to charitres preparing their financial ststements in attordant¢ with tht Financial Repjrting Standard applicable in the UK and RepU￿1COf Ireland IFRS 1021 i$$￿d in October2019. the Financial Rep)rttn8 Standard applioble in the United Kingdom and Republ*c ot Ireland IFRS 1021 and UK Generalty Accepted Accounting Prarti￿. The charity meets the d•finition of a Public 8enefft Entity as defined by FRS 102. bl Go5n4 ¢on¢ern These financial statements have been prepared on the lo1￿ concern basis whith ass[￿￿¢$ that the charity will continue its 0￿rat￿n$. Hawne made appropriate enquiiies, the Twstees have a reasonable expectation that the charity has zdequate rvsources to continue In operational existence for at least tw•fve months from the date of appr￿la1 of these finaftcial ststements. There are no material uncertainties that exist or material changes in the waythe charity operates and theTnstees consider itappropnate to prepare financial stattmentson a¥oini concem basls. tl Income Income Is rewnised ID the Statemetyt of Financial Artr¥it￿$ when the eharrty has entStlementto the funds. when it ts probable that the income will be recev¥ed and the amount can be measured reliabty. dl Expendlture Empendilure is recogn¢sed once theTE is a legal or constructive obl4tat*)n to make a payment to a third party. (( is PrOba￿e that setttement will be required and the awunt of the obligation can be measured reliabty. el Flxed Asset Investments The investments held by the Trust are revalued at the end of each financi31 year to rnfiect thelr market value at that date. HERON PICKSTOCK TRUST MOTESTO THE FINANa￿ srATEMErirs For the yéar ended 30 September 2024 Gain5 and 10s5e5 on disp)5al and revaluation of investments are charged or credited to the statemerlt of Financial Activities. Cash at Bank and in har Cash at bank and in hand incIL￿e ¢Jsh and short temi h*hly liquid investm*nts w6th a short maturity date of acqui%ition oropening tsf the deposit or simiLar account. tl Funds Unrestyicttd funds arn funds that can be used in acc¢Jrdanc* with th* obJ"ectives of the tharlty at the discretion olthe trustees. DonattMs Unyestrlrted unreSt￿tte& 2024 1023 Donations receNed 426.690 Cost of th¥itable acti¥itses Unwestrfjrted Unrestrlrted 2024 2023 Charitsble grnnts and disbursements Support Costs: Bank cha￿eS Sundry Costs Independent exam fee Legal & Regulatory fees 40 5.521 7,062 No trustee reteNed any rEmuneration or reimbursement of expenses durin£ the year12023.' none). HERON PICKSFOCKTIIUST NOTES TOTHE FINANOAL STATEMENTS Forthe yew ended ￿ September 2024 Staff costs and key management persrymel The charity had no empbyees in the year12023.. none) and therefore incurred no wages. salary or pension costs. No employee earned £60.IX(I perannum or more durinK the year12023.' none). The trustees consider that they comprise the key management pefsonnel of the charity in charKe of directing and controlling the charity. The tot31 renumerztion lincludin8 taxable ￿nefitS and employerfs pens40n and National in5uFantecontributr"onsl of keymanagement personnel for theyearwa5 £nil12023: Inyestments 2024 2023 Unlisted Inv•stment 401.806 Invesknents Costorvaluadon At l October 2023 Additions Gzins on revaluat•Jn 401,690 116 At 30 September 2024 401,806 Carryfjngam￿￿t At 30 September 2024 401,806 At 30 SepteFnber 2023 HERON PI(K5TOCK TRusr NOTES TO THE FINANaAL STA7EMEIITS For the ye¥ ended 30 Sept￿be¥ 2024 Cred114YS X124 202a A(cnHis 1500 O¢btors 2024 2023 A£¢rued incpme 5,978 Movemenl In fvnds Atao September 2024 October 2023 I￿orne ExpendI￿re G•lns UnrestrKted fvnds: 432,668 17,(621 116 425,722 10. Analysi5 of net assets tsetw￿ fvnds Unrestricted Funds Uffestrftted Funds 2023 Net Cufrent assets 425,722 11. Related parties A donation of £101.69012023= £nill was received from a Trustee of the Chartty. Further donations totalljn È3?5,{￿12023-. £nill were re￿Ned fro.Tr Aollis tsprtal Limited, a tomrAny under the control o Trustee ofthe tharity. io