TH E CASTANSA TRUST

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TH E CASTANSA TRUSTScottish Charity No : SC037414

REPORT AND ACCOUNTS

FOR THE YEAR TO 25TH JULY 2020

sook2 C.6924.001-LNK-Charityacc

THECASTANSA TRUST

GENERAL INFORMATION AND REPORT OF

TRUSTEES FOR THE YEAR TO 25TH JULY 2020

The Trustees present their annual report and financial statements for the charity for the year ended 25th July 2020. The financial statements

r~ have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the Charity's

Trust Deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and

the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements

in accordance with the Financial Reporting Standard 102 aplicable in the UK and Republic of Ireland (FRS 102) (effective i January 2019).

Objectives and Activities

Obiectves of Trust The Trustees are directed in terms of the Trust Deed to pay or apply the funds of the Trust for the benefit

F~ or furtherance of such purposes, objects or institutions, charitable in law, as the Trustees in their

absolute discretion shall determine. The Trustees are also authorised to accumulate income for the

F~ twenty one year period from 26th May 2006.

~~ The Trustees aim to use the Trust Funds to provide early stage/catalyst funding, to encourage a business

approach to philanthropy and to enable action, in the following fields —

• Education

F~ Children/Teenagers (specifically Leadership Courses and help with Employment)

• Support for those diagnosed with Cancer or Dementia and for their families

_~ Social lnclusion

• Culture and the Arts• Environment

The Trustees do not engage directly in charitable activities or projects. The principal activity is grant

making.

Grant Making Policv The Trustees have opted for a policy of making donations to those organisations they feel require most

support and whose purposes fall within the spectrum of the Trust Deed, and within the Trustees' favoured

areas of support.

Applicants should complete the Trust's application form, which can be found on the webpage

s~ www.turcanconnell.com/the-castansa-trust . The webpage also provides guidance, to assist with applying.

The Trustees will support such organisations as they consider appropriate and that may be drawn to their

attention. In order to minimise administration costs, it is the policy of the Trustees not to acknowledge

applications and to only contact successful applicants.

_~ Due to significant existing commitments for funding, the Trust is not considering unsolicited applications

from 31st July 2018, until further notice. The Trustees will continue to review this decision at their scheduled

;~ meetings.

i~ Report on the Activities The Trustees have received applications from a number of organisations throughout the year. In the

of the Trust year, the Trust has supported a range of charitable causes as recorded in note 6 to the accounts. In

_~ some cases, the Trustees have set up a standing order to make monthly donations to certain applicants.

The Trustees made grants of £418,045.67 (2019 £257,135.28) as detailed in note 6 of the financial

statements, which includes multi-year commitments.

Achievements and PerformanceInvestment Policv In accordance with the Trust Deed, the Trustees have power to invest in such stocks, shares, investments

~~ and Performance and property in the United Kingdom or abroad as they in their sole discretion think fit. The Trustees engage

Adam & Co as investment managers. The Trustees' investment policy is geared towards a balanced return

i~ between capital and income. There are no constraints as to the investments comprising the portfolio at any

time.

In the period to 25th July 2020, capital values have decreased by 4.83% with gross investment income

also decreasing by 13.51%. The capital depreciation has been mainly attributed to drops in the market

prices of some stocks due to the uncertainties surrounding the Coronavirus outbreak. The dividend

income decrease is due to changes in the portfolio in the previous and current years.

~~,

THE CASTANSA TRUSTGENERAL INFORMATION AND REPORT OFTRUSTEES FOR THE YEAR TO 25TH JULY 2020

Financial Review

financial Report The Trusts ability to make meaningful donations is reliant on income and investment returns from itsinvestment portfolio and when and where possible, the occasional donation from the Settlors.

At the close of this account the investments of the Trust had a market value of £1,238,926.00(2019 £1,301,743.00) and total funds amounted to £2,026,951.72 (2019 £1,505,197.73) all of whichwere unrestricted. The Trust received investment income of £35,836.61(2019 £41,432.03) inaddition to receiving a donation totalling £1,000,000.00 (including recoverable gift aid of£200,000.00) (2019 Nil), none of which were for restricted purposes .

Reserves Policv It is the policy of the Trustees to distribute the investment income of the Trust in the form of grants ordonations. It is anticipated that any surplus income at the close of the account would be so distributedin a following year or years.

The funds of the Trust are wholly unrestricted and are represented primarily by a portfolio of investmentsand cash. The investments are managed on a discretionary basis by the investment managers. The Trusteeshave power to draw upon the fund in furtherance of the Trust's objectives whilst retaining sufficient fundsto meet any commitments they may undertake.

As the assets of the Trust are held in a readily realisable form the Trustees do not therefore consider itnecessary to maintain specific reserves.

future Plans The Trustees have been discussing the possibility of winding down the Trust over the next three to eightyears but in the meantime, the Trustees plan to continue the activities set out above, subject to availablefunds.

Risk Manasement The Trustees have assessed the major risks to which the charity is exposed, in particular those relatedto the operations and finances of the Trust and are satisfied that systems are in place to mitigate theirexposure to the major risks.

As the Trust mainly relies on its investment returns in order to make its donations, the principal risk facedby the Trust lies in the performance of its investments. The Trustees have mitigated this by retaininginvestment managers to advise them and by having a diversified portfolio.

Going Concern The Trustees have no material uncertainties as to the Trust's ability to continue as a going concern.

Structure. Governance and ManasementFounding Document Deed of Trust dated 26th May 2006 and registered in the Books of Council and Session 17th August 2006.

Appointment of New Trustees Reserved to the Settlors provided they retain sufficient capacity to do so, whom failing, the Trustees inoffice.

Decision making All Trustees are actively involved in the decision making process.Requests for funding are reviewed, and awards agreed, by the Trustees periodically and also after theapplication closing dates at the end of February /May /August /November each year.

Related Parties The Trustee, has been an Ambassador for The Women's Fund for Scotland sinceNovember 2017. During the acounting year, a donation of £50,000.00 plus an outstanding pledge of£15,000.00 were paid to the charity. As at the year end, there were no outstanding pledges for thecharity (2019 £15,000.00).

is a Trustee for the George Watson's College (formerly a Governor). As at the yearend, there were donation commitments outstanding of £19,192.32 (2019 £19,192.32) for the college.

The Trustee is a board member of Columba 1400. A donation of £15,000.00 was made tothe charity during the year. As at the year end, there were donation commitments outstanding of£29,123.41 (2019 Nil) for this organisation.

During the year, the Trustee, , donated £800,000.00 (2019 Nil) plus gift aid to theTrust.

THE CASTANSA TRUST



Structure. Governance and Management

Employees The Trust has no employees (2019 None). The Trustees have engaged Turcan Connell to undertake theadministration of the Trust, remuneration for which is recorded in the financial statements.

Management All Trustees are active in the management of the Trust.

Reference and Administrative Details

Scottish Charity Number SC037414

Address Turcan Connell, Solicitors

Princes Exchange1 Earl Grey StreetEdinburgh,

EH3 9EE

Trustees(Apgointed byDeed/Assumption

Advisers Solicitors

Turcan Connell

Princes Exchange

1 Earl Grey Street

Edinburgh

EH3 9EE

Auditor

Kevin Cattanach CA

Whitelaw Wells

Chartered Accountants

9 Ainslie Place

Edinburgh

EH3 6AT

Investment Advisers and Bankers

Adam & Co

6-8 George Street

Edinburgh

EH2 2PF

THE CASTANSA TRUST



Statement of Trustees' The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in

Responsibilities in Respect accordance with applicable law and with the Financial Reporting Standards applicable in the United

of the Financial Statements Kingdom and Republic of Ireland.

The law applicable to Charities in Scotland requires the Trustees to prepare financial statements for each

financial year which give a true and fair view of the state of affairs of the Trust and of the incoming

resources and application of resources of the Trust for that period. In preparing these financial

statements, the Trustees are required to follow best practice and:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable accounting standards and statements of recommended practice have

been followed, subject to any departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis, unless it is inappropriate to assume

that the Trust will continue on that basis.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy

at any time the financial position of the Trust and enable them to ensure that the financial statements

comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland)

Regulations 2006 (as amended) and the provisions of the Trust's constitution. They are also responsible

for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and

detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity. Legislation in the United

Kingdom governing the preparation and dissemination of the financial statements may differ from

legislation in other jurisdictions.

Financial statements preparation

The Trustees confirm that the financial statements for the year ended 25th July 2020 have been prepared

so as to comply with current statutory requirements, the Charity SORP and the Trust's own governing

document.

Approved on behalf of the Trustees

........Z:~.../...~..,/..~.~.... Date/ l

THE CASTANSATRUST

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES FOR THE YEAR ENDED 25 JULY 2020

Opinion

We have audited the financial statements of The Castansa Trust for the year ended 25 July 2020, which comprise the Statement ofFinancial Activities, the Balance Sheet, the Cashflow Statement and notes to the financial statements, including a summary of significantaccounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United KingdomAccounting Standards, including FR5102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United KingdomAccounting Generally Accepted Accounting Practice).

In our opinion the financial statements:• give a true and fair view of the state of the trust's affairs as at 25 July 2020 and of its income and expenditure for the yearthen ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and• have been prepared in accordance with with the requirements of the Charities and Trustee Investment (Scotland) Act 2005and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilitiesunder those standards are further described in Auditors' responsibilities for the audit of financial statements in our report. We areindependent of the Trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK,including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Webelieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:• the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or• the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast doubt about theTrust's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the datewhen the financial statements are authorised for issue.

>~

Other information

;,~ The other information comprises the information in the annual report, other than the financial statements and our auditor's reportthereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the otherinformation and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, considerwhether the information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwiseappears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required todetermine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If,based on the work we have performed, we conclude that there is a misstatement of this other information, we are required to report thatfact.

We have nothing to report in this regard.

Matters on which we are required to report by exceptionWe have nothing to report in respect of the following matters in relation to which the Charities and Trustees Investment (Scotland)Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:• the information given in the financial statements is inconsistent in any material respect with the Report of the Trustees';• proper accounting records have not been kept; or• the financial statements are not in agreement with the accounting records and returns; or• we have not received all the information and explanations we require for our audit.

Other Matter

The comparative figures are unaudited.

Responsibilities of the Trustees

As explained more fully in the statement of Trustees' responsibilities set out on page 5, the Trustees are responsible for the preparationof financial statements which give ~ true and fair view, and for such internal control as the Trustees determine necessary to enable thepreparation of the financial statements that are free from material misstatement, whether due to fraud or error.

J

THECASTANSA TRUST

I NDEPENDENT AUDITORS' REPORT TO THE TRUSTEES FOR THE YEAR ENDED 25 JULY 2020

Responsibilities of the Trustees

In preparing the financial statements, the Trustees are responsible for assessing the Trusts ability to continue as a going concern,

disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees intend to

liquidate the Trust or cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statementsWe have been appointed as auditors under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report

in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material

misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high

level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement

when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could

reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website

at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

~̀ This report is made solely to the Trust's members, and trustees, as a body, in accordance with section 44(1)(c) of the Charities

and Trustee Investment (Scotland) Act 2005, regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

I~ Our audit work has been undertaken so that we might state to the Trust's members those matters we are required to state to

"~ them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assumeresponsibility to anyone other than the Trust and the Trust's members as a body, for our audit work, for this report, or for the

opinions we have formed.

Whitelaw Wells

Statutory Auditors

9 Ainslie Place

Edinburgh

EH3 6AT

_ VWhitelaw Wells is eligible to ad as an auditor in terms of section 1212 of the Companies Act 2006.

TH E CASTANSA TRUST

BALANCE SHEET AS AT 25TH JULY 2020

Notes

Fixed Assets

Investments

Total Fixed Assets

Current Assets

Cash on deposit and in hand

Total Current Assets

Liabilities

Current LiabilitiesFuture Commitments due within one year

Total Current Liabilities

Net Current Assets

Total Assets less Current Liabilities

Less:

Long Term LiabilitiesFuture Commitments due after more than one year

Net Assets

Funds of the CharityUnrestricted Funds

Total Charity Funds

2020 2019

f £

1, 238, 9 2 6.00 1, 301, 743.00

1, 238, 926.00 1, 301, 743.00

2, 026,951.72 1, 505,197.73

Approved by the Trustees and authorised to be signed on their behalf on

Date .............~.~.~.. ~.~0~,,.~. ...............

Trustee

4

935,979.09 352,095.21

935,979.09 352,095.21

2 (4,974.65) (41,305.51)2, 6 (70,421.27) (60,219.22)

(75,395.92) (101,524.73)

860,583.17 250,570.48

2, 099, 509.17 1, 552, 313.48

2, 6 (72,557.45) (47,115.75)

2,026,951.72 1,505,197.73

2, 02 6, 951.72 1, 505,197.73

Print Name

THE CASTANSA TRUSTStatement of Financial Activitiesfor the vear ended 25th lulu 2020

Income and endowments from:

DonationsInvestments

Total

Expenditure on:

Raising FundsInvestment management charges

Charitable ActivitiesDonationsSupport and Governance Costs

Total

Net gains on investments

Net (expenditure)/income and movements in funds

Reconciliation of fundsTotalfundsbroughtforward

Total funds carried forward

2020 2019

Notes Total Total£ £

3 1,000,000.00 -3 35,836.61 41,432.03

1,03 5, 836.61 41,432.03

5 (8,272.82) (8,396.66)

6 (418,045.67) (257,135.28)7 (6,651.00) (16,865.00)

(432,969.49) (282,396.94)

602,867.12 (240,964.91)

4 (81,113.13) 57,242.68

521,753.99 (183,722.23)

1, 50 5,197.73 1, 688, 919.96

2,026, 951.72 1, 505,197.73

All funds are unrestricted in both the current and previous years.

TH E CASTANSA TRUST

STATEMENT OF CASH FLOWS

for the vear ended 25th Julv 2020

Cash flows from operatins activities 2020 2019

£ £

Net cash provided by (used in) operating activities 566,343.40 (400,333.27)

Cash flows from investing activitiesDividends and interest from investments 35,836.61 41,432.03Purchase of investments (42,459.26) (69,633.14)Proceeds from sale of investments 24,163.13 296,903.58

Net cash used in investing activities 17,540.48 268,702.47

Change in cash and cash equivalents in the period 583,883.88 (131,630.80)

Cash and cash equivalents at the beginning of the reporting period 352,095.21 483,726.01

Cash and cash equivalents at the end of the reporting period 935,979.09 352,095.21

Reconciliation of net income/expenditureto net cash flow from operating activities 2020 2019

£ £

Net(expenditure)/lncome per statement of financial activities 521,753.99 (183,722.23)

(Gains) on investments 81,113.13 (57,242.68)Dividends and interest from investments (35,836.61) (41,432.03)Decrease/(Increase) in debtors -

(Decrease) /Increase in creditors (687.11) (117,936.33)

Net cash provided by (used in) operating activities 566,343.40 (400,333.27)

Analysis of cash and cash equivalents

Deposit accounts 935,979.09 352,095.21

935,979.09 352,095.21

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TH E CASTANSA TRUST

Notes to the Financial Statementsfor the vear ended 25th July 2020

1 Accounting Policies

(a) Financial statements preparation

The financial statements have been prepared under the historical cost convention with items recognisedat cost or transaction value unless otherwise stated in the relevant notes) to these accounts. The financialstatements have been prepared in accordance with the Accounting and Reporting by Charities: Statementof Recommended Practice for Charities applicable to charities preparing their financial statements inaccordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland(FRS 102) (effective 1st January 2019) subject to the reporting exemptions available to Small Entities underSection 1A of that Standard, the Charities and Trustee Investment (Scotland) Act 2005, and the CharitiesAccounts (Scotland) Regulations 2006 (as amended).

The Trust constitutes a public benefit entity as defined by FRS102.

The financial statements have been prepared on a going concern basis. The Trustees have assessed the Trust'sability to continue as a going concern and have reasonable expectation that the Trust has adequate resourcesto continue in operational existence for the foreseeable future, thus they continue to adopt the going concern

basis of accounting in preparing the financial statements.

(b) Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction valueand subsequently measured at their fair value at the balance sheet date. The Statement of Financial Activitiesincludes the net gains or losses arising on revaluation and disposals throughout the year.

(c) Investment Gains and lossesAll gains or losses are taken to the Statement of Financial Activities as they arise. Realised gains andlosses are calculated as the difference between the sales proceeds and their opening carrying value ortheir purchase value if acquired subsequent to the first day of the financial year. Unrealised gains andlosses are calculated as the difference between the fair value at the year end and their carrying value.Realised and unrealised gains and losses are combined in the Statement of Financial Activities.

(d) IncomeInvestment income is included in the financial statements in the year in which the Trust becomes entitledto it, it can be reliably determined and there is probability of receipt.

Donations are included in the financial statements together with associated gift aid, where applicable,when the Trustees have been advised of the donation with notification of both amount and intendedsettlement date.

(e) Expenditure

Expenditure is included in the financial statements on an accruals basis and recognised in full as soon asa constructive obligation exists, the sums payable can be reliably measured and there is probability ofpayment.

A provision for amulti-year award is recognised at its present value where settlement is due over morethan one year from the year of the award, there are no unfulfilled conditions and the effect of thediscounting is material. In the current econimic climate the Trustees consider a discount rate of 2% tobe appropriate.

(f) Cost of Raising FundsInvestment management charges are included on an accruals basis and recognised in full as soon as aconstructive obligation exists.

THE CASTANSATRUST

Notes to the Financial Statements


1 Accounting Policies (contd.)

(g) Support and Governance Costs

Support costs are the costs associated with the direct management of the charity.

Governance costs are the costs of compliance with the statutory and regulatory requirements of the charity.

Fees charged by Turcan Connell for legal and accounting services are included in the accounts as follows:Support (Legal and Administrative Costs) -actual time basis

Governance (Accountancy Costs) -actual time basisThese are recorded in support and governance costs in the Statement of Financial Activities.

Audit/Independent examination fees are recorded in support and governance costs in the Statement ofFinancial Activities.

All other support and governance costs are recorded in the Statement of Financial Activities as appropriate.

-~As the charity does not provide services directly but by way of grants to other organisations, support andgovernance costs are not allocated against individual grants or donations.

(h) Donations

Donations authorised to be paid in respect of the accounting year or future years are provided for in thefinancial statements in the year in which they are authorised, subject to accounting policy (i), below.

(i) Donation Commitments

The Trustees recognise that they have commitments but the majority of these, by number, are in the form ofstanding orders for very small amounts, which are awarded in accordance with the purposes of the Trust, toorganisations that they feel require support. The Trustees include, within the account, commitments of

,~ only one year for these organisations. In addition, the Trustees do have some fixed term agreements inin place with some organisations for larger amounts, say £1,000 for the next four years. These commitments

;~ are recognised in full, in the first year.

(j) Pledges

The Trustees also have discretion to enter into pledges to make grants or commitments. These pledges aresubject to certain conditions being fulfilled. The grants or commitments of this type are provided for in full

as soon as the pledge has been entered into as the conditions fall outside the control of the charity. Once„~ the conditions have been met, the grant or commitment will be paid out.

(k) Foreisn Exchanse Policv

Some investment assets are held in foreign currencies. These are translated into sterling at the rates of

exchange ruling at the balance sheet date, with any gain or loss reflected within unrealised gains/(losses)on investments. Income in foreign currencies is translated into sterling at the rate of exchange ruling atthe date of transactions. Gains or losses on the subsequent conversion are included as other investmentincome or other support costs as necessary.

(I) VAT

The Charity is not registered for VAT purposes and all VAT incurred is therefore irrecoverable. Where applied,VAT is included as part of the expense.

TH E CASTAN SA TRUST



2 Creditors

Due in less that one year -

Turcan Connell fees

Whitelaw Wells fees

Adam & Co -investment management feesEdinburgh and Lothians Greenspace TrustWomen's Fund for Scotland

Future Donation Commitments (Note 6)

Due after one year -

Future Donation Commitments (Note 6)

Total creditors

3 Income

Donations &gift aid -Stephen Halliday

Investment Income -

Dividend Income

Banklnterest

2020 2019

f £

1,500.00 3,375.00

1,500.00 840.00

1,974.65 2,090.51

- 20,000.00

- 15,000.00

70,421.27 60,219.22

75,395.92 101,524.73

72,557.45 47,115.75

72,557.45 47,115.75

147, 953.37 148, 640.48

2020 2019

£ £

1,000,000.00 -

34,085.47 40,311.63

1, 751.14 1,120.40

1, 03 5, 83 6.61 41, 43 2.03

4 lnvestments 2020 2019

£ £

Fair Value at 26.07.19 1,301,743.00 1,471,770.76

Purchases 42,459.26 69,633.14

Sales (24,163.13) (296,903.58)

Net gains (81,113.13) 57,242.68

Fair Value of Investments at 25.07.20 1,238,926.00 1,301,743.00

Historical Value of Investments at 25.07.20 936,575.85 942,417.29

Ne: All investments are quoted on a recognised stock exchange and are investments held in the UK.

2020 2019

5 Cost of Generatins Funds f £

Adam & Co, Investment Management Fee 8,272.82 8,396.66

8,272.82 8,396.66

THECASTANSA TRUST



6 Charitable Activities

Donations payable to institutions

In 2020, donations paid which exceeded 2°0 of the gross income were:- f

P P M BT 100,000.00

Women's Fund for Scotland Covid 19 Emergency Fund 50,000.00

Inspiring Scotland Covid 19 Emergency Fund 50,000.00

Reform Scotland 40,000.00

In addition, a further 34 donations to organisations were made totalling 177,401.92

417,401.92

Unwinding of discount financing applicable to grants and donations 1,128.62

418, 530.54

Less:- Commitments provided for in previous year (81,297.65)

337,232.89

Add:- New commitments

Columba 1400 29,123.41

IntoUniversity 47,134.59

George Watson's Family Foundation 9,314.86

In addition, 13 further commitments to organisations were

made that ranged from £108 to £600, which totalled 5,239.92

90,812.78

Add:- New Pledges

None -

Less:- Pledges withdrawn during period (10,000.00)

418,045.67

Analysis of Donations paid in the year

2020 2019

Total Number Total Amount Total Number Total Amount

Health 6 12,263.92 9 29,363.92

Social Inclusion /The Community 16 213,317.00 14 103,433.00

Education 5 43,553.00 6 46,599.56

Environment 3 10,708.00 3 5,702.00

Elderly 1 360.00 2 5,360.00

Children /Teenagers 1 600.00 3 46,600.00

Culture and the Arts 6 136,600.00 11 137,500.00

Other 0 - 0 -

374,558.48417,401.92

THE CASTANSATRUSTNotes to the Financial Statementsfor the year ended 25th Julv 2020

6 Charitable Activities

Future Donation Commitments2020 2019£ £

Balance brousht forwardGeorge Watson's Family FoundationMarie Curie Hospice - FairmileheadInspiring ScotlandThe Open Door

Scottish Ballet

Leith School of ArtArtlink Elderly and Dementia GroupThe Welcoming AssociationRoyal Scottish National OrchestraJohn Muir TrustSCO Wester Hailes Community ResidencyAwards for Young MusiciansWigtown Book FestivalSpringboard -Dumfries PrisonEdinburgh International Book FestivalEdinburgh International FestivalHome Link Family SupportScottish BalletBethany Christian Trust

In addition, 14 further commitments to organisations weremade that ranged from £102 to £600, which totalled

Less paid in year

George Watson's Family FoundationIn addition, 13 further commitments to organisations weremade that ranged from £102 to £600, which totalledMarie Curie Hospice - FairmileheadInspiring ScotlandThe Open Door

Scottish BalletLeith School of ArtArtlink Elderly and Dementia GroupThe Welcoming AssociationRoyal Scottish National OrchestraSpringboard -Dumfries PrisonJohn Muir TrustWigtown Book FestivalSCO Wester Hailes Community ResidencyAwards for Young MusiciansEdinburgh International Book FestivalEdinburgh International FestivalHome Link Family SupportScottish Ballet

Bethany Christian Trust

Unwinding discount financing

19,192.32 28,507.18- 9,803.92- 39,215.69- 8,333.33- 7,843.14- 5,882.35- 4,901.96- 4,901.96- 4,901.96- 4,901.96

9,803.92 19,415.614,901.96 9,707.803,921.57 7,766.25

- 7,843.1411,649.36 -11,257.21 -9,707.80 -

28,838.83 -2, 828.08 -

5,233.92 5,831.92Forward 107,334.97 169,758.17

(9,885.00) (9,885.00)

(5,233.92) (5,831.92)- (10,000.00)- (40,000.00)- (8,500.00)- (8,000.00)- (6,000.00)

(5,000.00)- (5,000.00)- (5,000.00)- (8,000.00)- (5,000.00)- (4,000.00)

(10,000.00) (10,000.00)(5,000.00) (5,000.00)(6,000.00)(5,600.00)

(5,000.00)(10,000.00) -

(600.00)

2,149.89 3,278.52Forward 52,165.94 37,819.77

TH E CASTANSA TRUST



6 Charitable Activities 2020 2019

Future Donation Commitments £ £

Forward 52,165.94 37,819.77

New commitments in the vear

Edinburgh International Book Festival - 11,649.36

Edinburgh International Festival - 11,257.21

Home Link Family Support - 9,707.80

Scottish Ballet - 28,838.83

Bethany Christian Trust - 2,828.08

Columba 1400 29,123.41 -

IntoUniversity 47,134.59 -

George Watson's Family Foundation 9,314.86


made that ranged from £108 to £600, which totalled 5,239.92 5,233.92

142,978.72 107, 334.97

2020 2019

Due thus: £ £

George Watson's Family Foundation 19,192.32 19,192.32

SCO Wester Hailes Community Residency - 9,803.92

Awards for Young Musicians - 4,901.96

Wigtown Book Festival 3,921.57 3,921.57

Edinburgh International Book Festival 5,882.35 11,649.36

Edinburgh International Festival 5,882.35 11,257.21

Home Link Family Support 4,901.96 9,707.80

Scottish Ballet 19,415.61 28,838.83

Bethany Christian Trust 2,284.64 2,828.08

Columba 1400 29,123.41 -

IntoUniversity 47,134.59 -


made that ranged from £108 to £600, which totalled 5,239.92 5,233.92

14 2, 9 7 8.7 2 107, 3 34.9 7

Future Donation Commitments fall due:

less than one year 70,421.27 60,219.22

between one and six years 72,557.45 47,115.75

142, 978.72 107, 334.97

Pledges

Opening balance

Less - Paid in the year to 25th July 2020

Withdrawn in the year to 25th July 2020

Add - Pledges made and became a Future Commitment in year to 25th July 2020

Outstandins pledses as at 25th July 2020

35,000.00

(25,000.00)

(10,000.00)

TH E CASTANSA TRUSTNotes to the Financial Statementsfor the vear ended 25th Julv 2020

7 Support and governance costs 2020 2019SUppOtt CoStS £ £ £

Administration 2,000.40 6,350.00Membership Fees 150.00 150.00

2,150.40Governance

Accounting 3,000.60 9, 525.00Audit/Independent examination 1,500.00 840.00

4, 500.606,651.00 16,865.00

8 Related Partv Transactions

The Trustee, has been an Ambassador for The Women's Fund for Scotland sinceNovember 2017. During the acounting year, a donation of £50,000.00 plus an outstanding pledge of£15,000.00 were paid to the charity. As at the year end, there were no outstanding pledges for thecharity (2019 £15,000.00).

is a Trustee for the George Watson's College (formerly a Governor). As at the yearend, there were donation commitments outstanding of £19,192.32 (2019 £19,192.32) for the college.

The Trustee is a board member of Columba 1400. A donation of £15,000.00 was made tothe charity during the year. As at the year end, there were donation commitments outstanding of£29,123.41(2019 Nil) for this organisation.

During the year, the Trustee, , donated £800,000.00 (2019 Nil) plus gift aid to theTrust.

9 Trustees' ExpensesThe Trustees received no remuneration (2019 Nil). All Trustees act gratuitously. The Trust has no employees.

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Edinburgh EH3 9EE

T: 0131228 8111

F: 0131228 8118

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Glasgow G2 5SG

r: 0141 4412111

LONDON:

12 Stanhope Gate,

London W1K 1AW

t: 020 7491 8811

turcanconnell.com

E: [email protected]

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Turcan Connell is a Partnership of Scottish Solicitors regulated by The Law Society of Scotland.

A full list of partners can be found at turcanconnell.com/partners

TH E CASTANSA TRUST

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