The Salter Centre
RECEIPTS AND PAYMENTS ACCOUNTS
For the period ended 31 March 2025
Charity No: SC052842

The Salter Centre
ContsDts
Truste&s' Annual Report
Report of Independent Examiner
Receipts and Payments Accounts
Statement ofBalances
Notes to the Accounts
Page

The Salter Centre
Trustees, Annual Report
For the period ended 31 Mareh 2025
Reference aDd Administrative InfDrniatio
Ch¥rlty Name".
Th¢ Salter Cetktre
(formeTI)' The Lothian School of Technology)
SC052842
Loihian School of Technology
Unil 3 Edgefield Road Industrial Estate
Loanhead
Midlothian
EH20 9TB
Charity Number:
Address:
slees:
Independent Examiner:
Hollis Accounting Limtted
Chartered A¢eountants
3 Melville Cres¢enl
Edinburgh
EH3 7HW
Structure, Governattee attd Managem¢nt
CoDsll¢utiots
The Charity is a Scottish Charitible Incorporated Organisation {SCIO}. li was registered a5 a
chartty on 25 September 202J. The Chority is administ¢r¢d in accordance with the ternis of its
constitution.
Re¢Tullm¢Dt Appointment ofTrustees
Upon incorporation the individuals who signed the fomis whi¢h a¢¢ompanied the appl&¢ation
were deemed to have been appointed as Trnst¢¢s. The ¢onstitution provides for there to be a
minimum of 3 and t maximum of IQ Trustees. The Trustees ￿e the members of the
organisation. The ¢onslitution further provides for election of Trustees from th¢ eligible
membership ofthe SCIO by the membets ateach Amiuai Gen¢ral Me¢ting, and forappointm¢nt
as Trustee by the Board of Trustees of atty eligible m¢mber or of any non-member nominated
by ihe TTUSte¢s whos¢ sp¢¢iolist skills or experience are deemed likely to be of assistance to
the Board.
Trugtees are given a copy of the ¢onstilulion and suggested to review the guidance issue4f by
OSCR on their role ond responsibilities.
Pag¢ I

The Salter Centre
Trustee5' Annual Report (continued)
For the period ended 31 March 2025
OrgaDlsation41 Strne¢ure
The Trustees meet when necessary. If decisions are required beh¥een meetings, then ¢mail¢d
agreement is deemed suÉF&cient.
Objective$ #nd Activitiey
The LothiaTh School of Technology (now the Salter Centre) was founded by Professor Stephen
Salter, a brilliant and fearless engineer committed to training young people and encournging
low-carbon t¢¢hnologi¢s Ihat will help pui ihe planet back on an even keel.
Stephen made substantial impacts in many areas including all aspects of oc¢an-wav¢ ¢nergy
conversion, marinethcurrent turbAnes, wind thrbines, water bags for suppressing ¢xplosions,
anti-personnel mine clearance, Stirling ¢ngines, digital hydrauli¢s, hydrofoil ships. nEtclear
disarniament, rain making, and ¢loud brightening to ¢001 the planet.
The Salter Centre's charitable aitns are
to advance environmentsl protection and improv¢m¢nt by Contributing to the Teverse
of global warEning
to advance education by supporting the training of enginee￿ in design and pra¢li¢al
skills especially in the field of ¢lim&te change.
Re8r¢tt#bly. Prof Saltei di¢d in F¢bruary 2024 at which point his estate, which comprises the
wealth of the charity, entered the confirmation process and became inaccessible. Trustees
delayed the launch of charitable activities unt&l after the confirn)ation proe¢ss concluded in
April 2025.
In the period leading up to April 2025 the Salter Centre did not trade.
Athi¢vemeDts 4nd P¢rfornianc¢
In the period since the creation of the SCIO, the Tn￿lee$ have ¢nsured th81 ¢he sysiems required
are being put in place. This has involved setting up ihe SCIO bank a¢¢ounts, developing plans
for the shape of the SCIO'S activities and consid¢ratiort of appropriate models.
Th¢r¢ are two subsidiary companies owned by the Salter Centre. which are Ocean Cooling
Technologies Ltd and Lolhian School of Technology Trading Ltd. Lothian School of
Technology Trading Ltd did not trade in the period. Oce&n Cooling T¢¢hnologi¢$ Ltd Continued
to cany out Éts operations and w&g also responsible for administ¢ring the property e51ate that
comprised part of Stephen S41t¢r's estate, The inlenlion is for the property ownership to be
Iransferred to the Salter Centre, and for the properties to then be let to companies who stwe
the charitable aims of ihe Salter Centre. The property estate will b¢ administ¢r¢d through
Lothian School of Technology Trading Ltd.
Page 2

The Salter Centre
Trustees, Annual Report (continued)
For the period ended 31 Mareh 2025
FiD#n¢ial Review
Ther¢ were no finan¢tAI transactions between th¢ Charity being registered &nd 3 1 March ?0?5.
ReseRves Poli¢y
The reserves ai 3l March 2025 are £nil. The Trusiees will fomiulale a reserves policy when
Ihe activiiies of the SCIO att to begin.
Plan5 for Future Periods
The Trustees are currently considering the shape and forni that the SCIO activities will take.
Activity to plan upgrades and expansion of the building facilities is under way. Plans to develop
an e￿ly-C8reer engineer training progr8mme are also in progress. Investmeni in relevant
¢oMpanI￿ fDr develnpmenÈ nf appropriaie tschnologies is being considered. These plans will
progre&s onc
state has been finalised and ihe bequest transferred to the Salter
Centre.
Pag¢ 3

The Salter Centre
Trustees, Annual Report (continued)
For the period ended 31 March 2025
Ststsm¢nt of TTh5t¢e$' Respollsibilities
The truslees must prepare financi41 s¢atements which give sufft¢kent detail to enuble on
appreLiation of ih¢ transa¢tions of ihe Lharity durillg the fjnancial period. The trus*es are
r¢sponsibl¢ for keeping propei accounting records which. on request, musl r¢fle¢i th¢ rtnancial
5ition of the chaTity at that time. This must be done to ensur¢ that th¢ financial statetnents
comply with the Charities and Trustee Inv¢stmenl (S¢otland) Aci 2005, and tlie Charities
Accounts (Scotland) R¢gulations 2006. They are also responsible for safeguarding the assets
of th¢ ¢hariry and musi rake reasonable sieps for the prevention &nd l or detr¢tion of fraud and
oth¢r inegularities.
Approved by the Trn51ees And signed oll their behalf,
Date: 1711212023
Pag¢ 4

Independent Examiner's Report to the Trustees of The Salter Centre
I r¢pK>rt on the accounts of ihe ¢harity for the period ending 31 March 2025 which are let out
on pages 6 to 7.
Respeetfve responslbllltles Df Irustees ¥nd exqmlner
The ch&rity'S tTUStees are responsible for the preparation of the a¢counts in 8¢¢ord&nc¢ with lh¢
ternis of th¢ Charities and Trnsle¢ Investhlent {S¢otland) Act 2005 and the Charities Accounts
(Scotland) Regulations 2￿6.
The charity truslees considerth&t the audil requirement of Regulation l O(l) (d) of the Accountg
R¢gulations does not appty. It is responsibility" lo examin¢ the accounts as required under
s¢¢tion H(1 ) {¢) of the A¢t and to state whether particular matters have come to my attention.
B%i5 of independent examiner's ststsment
An examination is c2rried out in aecord2n¢e with Regulation I l of the Chorities Accounts
(Scotland) Regulations 2006, An examination includes a reviewof the accounting records kept
by the Charity and a comparison of ihe accounts presented with those records. It also includes
considerdtion of any unusual items or disclosures tn the aecounts: and seeks explgnatftons from
the trustees concerning any su¢h matte￿. The pro¢¢dur¢s undertak¢n do not provide all the
evidence that would be required in #n audit. and consequently I do not express an audit opinion
on the view given by the accouRIs.
IDdepeDdent examiDer's ststemeDt
In the Course of my ¢xamination. no matter hos ¢ome to my attention.
whi¢h gives m¢ r¢a50nable cause to believe that in any material respect the
requirements..
to keep accounting ￿e0rdS in accordance with SectioTh 44 (Ixa) of the 2005 Aet
and Regulation 4 of the 2006 Accounts R¢gulations, and
to prepar¢ ac¢ounts M.hTeh a¢¢ord with th¢ a¢¢ounling re¢ords and comply with
R¢gulation 9 of the 2006 Accounts Regulation5
have not been mel, or
2. to which. tn my Opinio￿ attentton should be drawn in order to enable a proper
under%tanding of the aceounts to be reached.
Hollis Accouftting l..iniited
3 Melville Crescent
EdtnL)urgh
EH3 7FIW
Dat¢..
Page 5

The Salter Celltre
Receipts And Payments ACCO￿nts
Period ¢Dded 31 M¥r¢h 2025
Unr¢stri¢ted Restricted
FuDds
Funds
Totsl
2025
Not¢9
Recelpts
Activities for generating funds
Charitable activities
Bank Interesl
Totsl Reeeipts
Payments
Cost of charitable activities
Total Pgyment$
Net r¢c¢iplsl(paymenls)
Transfers between funds
Surylusl(d¢fi¢i¢) for ¢he perlod
Pag¢ 6

Th¢ S4lter Centre
Statement of Balances
as at31 Mareb 2025
lJnre8trirted RestrSeted
Funds
FuDd5
Total
2025
Opening ¢a5h at bank and in hand
Movemeot ill PeTS0d:
Surplu51(deficit) for Ihe reriod
Bahn¢es carrted forwird
B4llk & Depo$it B#L•u¢es
Current Accounts
Balances al 31 M¢Ych
Other *y3ets
Fixed Assets
Debtors
Investment in subsidtarles at ¢ost
The value of propem. and oiher inv¢sbnents has not yet ￿en deterniined il awaits
finalisation of a donorfs estaie
Liabilities
Creditors and accruals
Balances at 31 December
480
480
480
480
17th Decamb8r
The Accounts were approved by th¢ Board ofTrustees on.................................................2025
For and on behalf of all the trust¢¢s
Page 7

The Salter Centre
Notes to the Accounts
Period ended 31 March 2025
No¢e l. Basis of Ar￿￿￿tIng
These a¢¢ounts have been prepared on the Receipts and Paym¢nts basis in a¢¢ordance with the
Charities & Tru5tec Inve5ttnent {Scotland) Act 2￿5 and the Charities Accounts {Seotland)
Regulations 2006 (&$ amended).
Note 2. Nature and p￿rpOse of fuDd$
Unr¢stricled funds are those that may te used at the discretion of ihe trustees in furtherance of
the tsbjects of the charity. The trust¢¢s maintain a single unrestricted fund for the day4041ay
running of the organisation. Restricted funds may only be used for spe¢ifi¢ purposes.
Restriction% arise wh¢n specified by the donor or when funds are raised for specific purposes.
There are cu￿entlY no restricted funds.
Not¢ 3. Trustee Remuneration And Related Party Transaetiotts
During the pertod no ITUSt¢¢s w¢r¢ retnunerated or reimbursed any expenses. No Trustee or
peTson related to a trustee has a personal interest in any contract or trangacttons entered into by
the charity during the period.
Note 4. Investments
C05t
Additionsl(disposa15)
At 31 March
2025
The Sailer Centre owns one ordinary £1 share in Lothian S¢h4)ol of Technology Trading
Limited. a dormant subsidiary company, and two ordinary £1 shares in Ocean Coolin8
Technology Limiied, which is also a subsidiary company.
The kqu¢st from St¢ph¢n Salter includes other investments. but their value h&s no¢ yd been
detemiined &$ ihe estate has noi been fin41is¢d.
Nots 5. LIAblllties
2025
A¢¢Tued expenses
480
480
Page 8