Item 10 Appendix 3
West Dunbartonshire Council · 17 June 2026
Back to West Dunbartonshire Council — 17 June 2026 and its agenda
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Appendix 3 WEST DUNBARTONSHIRE COUNCIL CHARITABLE TRUSTS DRAFT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
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West Dunbartonshire Council Charitable Trusts Draft Financial Statements for the year ended 31 March 2026 Contents Page Trustees’ Annual Report 3 – 5 Statement of Receipts and Payments 6 Statement of Balances 7 Notes to the Financial Statements 8
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West Dunbartonshire Council Charitable Trusts Draft Financial Statements for the year ended 31 March 2026 3 | P a g e Trustees’ Annual Report Introduction The Trustees present the annual report together with the Financial Statements for the year ended 31 March 2026. Administration Information West Dunbartonshire Council (the Council) is sole Trustee for all Trust Funds with the exception of Dunbartonshire Educational Trust Scheme 1962 and McAuley Prize for Mathematics. The table below identifies the Trustees for 2025/26. Charity Contact Trust Fund Number Trustees Local Authority Address Councillor Daniel Lennie West Dunbartonshire West Dunbartonshire Council Councillor June McKay Church Street Councillor Lawrence O'Neill Dumbarton Councillor Clare Steel G82 1QL Councillor Diane Docherty Councillor Kevin Crawford Councillor Lauren Oxley Councillor Fiona Hennebry Councillor William Rooney Councillor Gordon Scanlan Councillor Sophie Traynor Provost Karen Murray Conaghan West Dunbartonshire West Dunbartonshire Council Laura Mason (Chief Education Officer) West Dunbartonshire Church Street Liz Connolly (Principal) West Dunbartonshire Dumbarton Laurence Slavin (Chief Officer – Resources) West Dunbartonshire G82 1QL Councillor Clare Steel West Dunbartonshire West Dunbartonshire Council Councillor John Millar West Dunbartonshire Church Street Councillor Hazel Sorrell West Dunbartonshire Dumbarton Councillor James McPhilemy North Lanarkshire G82 1QL Councillor Gordon Currie North Lanarkshire Councillor Lynda Williamson East Dunbartonshire Councillor Callum McNally East Dunbartonshire Councillor Math Campbell-Sturgess Argyll and Bute Alexander Cameron Bequest SC025070 Dunbartonshire Education Trust SC025070 SC025070McAuley Prize for Mathematics UIE Award SC025070
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West Dunbartonshire Council Charitable Trusts Draft Financial Statements for the year ended 31 March 2026 4 | P a g e Objectives and 2025/26 Activity All trusts are advertised on the Council’s website and details have been passed to West Dunbartonshire Community and Volunteering Service (WDCVS) to publicise them. The objectives and activities of each of the Trusts are detailed below: Chairty Number Trust Fund Objective 2025/26 Activity SC025070 Alexander Cameron Bequest The benefit of the people of Clydebank to assist those in need by reason of age, ill health, disability, financial hardship or other disadvantage. One grant was awarded during 2025/26 as detailed within note 3. SC025070 UIE Award For students studying apprenticeships or training in industry. No awards. SC025070 McAuley Prize for Mathematics Provides prizes for those studying maths and computing No awards. SC025070 Dunbartonshire Educational Trust Scheme 1962 Awards educational prizes and bursaries. Ninteen grants were awarded during 2025/26 as detailed within note 3. Structure and Governance West Dunbartonshire Council Charitable Trusts are OSCR registered. The governance arrangements are under the control of the Council which appoints trustees as required. The current list of trustees are shown within the table on page 3. Following a review of the governance documents, it was agreed at Council on 31 August 2016 that the Alexander Cameron Bequest Trust Fund noted below would be delegated to the Alexander Cameron Committee. The trustees have overall responsibility for ensuring there are appropriate systems of control, financial and otherwise. They are also responsible for keeping proper accounting records which disclose, with reasonable accuracy, the financial position of the Trusts and enable them to ensure Financial Statements comply with Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charity and are therefore responsible for taking reasonable steps to prevent and detect fraud and other irregularities and also provide reasonable assurances that: • The trusts are operating efficiently and effectively. • Assets are safeguarded against unauthorised use and disposition. • Proper records are maintained and financial information used by the charities is reliable. • The trusts comply with relevant laws and regulations. The systems of internal controls are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. The systems of internal control follow those of the Council and, as such, much of this is delegated to the Council’s Chief Officer - Resources. The Council continually seeks to improve the effectiveness of its systems of internal control so that any irregularities are either prevented or quickly detected. The systems of internal control are based on a framework of regular management information, financial regulations, financial and administrative procedures (including segregation of duties), management supervision and a system of delegation and accountability. The Financial Statements and Trustees Report are prepared by the Council’s Finance Service.
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West Dunbartonshire Council Charitable Trusts Draft Financial Statements for the year ended 31 March 2026 5 | P a g e The appointed external auditors are Forvis Mazars. The Council has agreed to meet the cost of this audit and not pass this on to the Trusts. This is to provide additional financial support to the Trusts, ensuring that core funds are not eroded, and objectives can continue to be achieved. The Trustees only meet as and when required during the year and will ensure that the required accounting arrangements are adhered to. Management of Funds and Investment Policy Decisions regarding the management of the Trusts are made by the Trustees. Trustees rely on the expertise of Council staff to manage the investments to ensure the maximum return at the least risk to the Trusts. In this way, the income stream for the future benefit of the Trusts is protected. Funds available are invested each year with interest earned. Investments are made both internally and externally, with the majority invested in the Council’s Loans Fund and externally managed by the Council. Performance (Investments) Income for West Dunbartonshire Council Charitable Trusts comes from investment returns. All Trusts (with the exception of those investments noted below) received income on their reserves based upon the average interest rate used for internal investments within the Council’s loans fund which was 4.095%. Following the expiration of a previous fixed term investment, the Trustees met and agreed in October 2025, to invest £98,944 with West Dunbartonshire Council for a period of 2 years at a fixed rate of 4.62%. The overall impact of this was £3,523.21 of interest gained during 2025/26. Dunbartonshire Educational Trust Scheme 1962 continues to receive income from external investments i.e. 3% Clydeport and 4% Clydeport Consolidated Stock. These investments are managed by the Council and achieved investment income of £5 in 2025/26 (£5 in 2024/25). Financial Review The total balance of the Trusts as at 31 March 2026 (including stocks) is £261,364. On 8 July 2016 Clydeport Operations Ltd delisted 3% and 4% stocks from the London Stock Exchange. These are stocks held by Dumbarton Educational Trust. Until further information is available it has been assumed that the balance of this stock has remained the same as the previous year (£218). The Trusts held other assets at 31 March 2026 of £162,202. Reserves are held by the Council on behalf of the Trusts and revenue income, generated from investment interest that has not been disbursed at 31 March every year, is invested in line with the investment policy outlined above. Declaration This report was signed on behalf of the Trustees on 17 June 2026. Councillor Martin Rooney West Dunbartonshire Council 17 June 2026
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West Dunbartonshire Council Charitable Trusts Draft Financial Statements for the year ended 31 March 2026 6 | P a g e Independent auditor’s report to the trustees of West Dunbartonshire Council Charitable Trusts and the Accounts Commission Statement of Receipts and Payments Account ReceiptsPayments (Surplus) / Deficit Receipts Payments (Surplus)/ Deficit 2024/25 2024/25 2024/25 2025/26 2025/26 2025/26 £ £ £ £ £ £ (4,557) 5,520 963 Dunbartonshire Educational Trust Scheme 1962 (3,469) 14,750 11,281 (1,114) 0 (1,114) McAuley Prize for Mathematics (1,002) 0 (1,002) (2,982) 6,000 3,018 Alexander Cameron Bequest (6,856) 600 (6,256) (1,259) 0 (1,259) UIE Award (1,133) 0 (1,133) (9,912) 11,520 1,608 Total (12,460) 15,350 2,890
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West Dunbartonshire Council Charitable Trusts Draft Financial Statements for the year ended 31 March 2026 7 | P a g e Statement of Balances as at 31 March 2026 Opening Balance (Surplus)/ Deficit Closing Balance Opening Balance (Surplus)/ Deficit Closing Balance 2024/25 2024/25 2024/25 2025/26 2025/26 2025/26 £ £ £ Note Other Assets £ £ £ (96,506) 962 (95,544) Dunbartonshire Educational Trust Scheme 1962 (95,544) 11,281 (84,263) (23,353) (1,113) (24,466) McAuley Prize for Mathematics (24,466) (1,002) (25,468) (22,470) 5,048 (17,422) Alexander Cameron Bequest (17,422) (6,256) (23,678) (26,402) (1,259) (27,661) UIE Award (27,661) (1,133) (28,794) (168,731) 3,638 (165,093) 4 Total Other Assets (165,093) 2,890 (162,203) Investment (218) 0 (218) Dunbartonshire Educational Trust Scheme 1962 (218) (218) (99,492) (2,030) (101,522) Alexander Cameron Bequest (101,522) 2,578 (98,944) (99,710) (2,030) (101,740) 5 Total Investment (101,740) 2,578 (99,162) (96,724) 962 (95,762) Dunbartonshire Educational Trust Scheme 1962 (95,762) 11,281 (84,481) (23,353) (1,113) (24,466) McAuley Prize for Mathematics (24,466) (1,002) (25,468) (121,962) 3,018 (118,944) Alexander Cameron Bequest (118,944) (3,678) (122,622) (26,402) (1,259) (27,661) UIE Award (27,661) (1,133) (28,794) (268,441) 1,608 (266,833) Overall Total (266,833) 5,468 (261,365) All funds are unrestricted which means they may be used for any purpose relevant to the Trust Fund. The draft Financial Statements were authorized for issue on 17 June 2026. Signed on behalf of the Trustees by:- Councillor Martin Rooney West Dunbartonshire Council 17 June 2026
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West Dunbartonshire Council Charitable Trusts Draft Financial Statements for the year ended 31 March 2026 8 | P a g e Notes to the financial Statements Note 1 - Basis of Accounting The Financial Statements have been prepared on a receipts and payments basis and in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. Note 2 – Trustee Remuneration, Expenses and Related Party Transactions No remuneration or expenses were paid to the Trustees or any connected persons during 2025/26. The Trusts received interest of £12,459 from the Council at 31 March 2026, and all transactions incoming and outgoing are made via the Council’s bank accounts. The Council has not charged the Trusts any fees for legal, financial or administrative services provided during the year. Note 3 – Grants There were 20 grants awarded during 2025/26. One award of £600 by Alexander Cameron Bequest to Clydebank to 6th Clydebank Scouts. There were 19 grants awarded by Dunbartonshire Educational Trust Scheme to students at West of Scotland College. Note 4 – Other Assets During the year the Trust’s balances were held by the Council, which manages the administration of the funds on behalf of the Trustees. No costs were incurred by the Trusts for this administration. The Council also acts as the banker for the Trusts and, as detailed above, all transactions incoming and outgoing are made via the Council’s accounts. The balances are repayable on demand. Interest is paid on balances. Note 5 – Investment Dunbartonshire Educational Trust - The investment valuation of £218 (shown in the table below) is the market value as at 31 March 2016, as valued by the Council. Notification was received that the stocks were delisted in July 2016. There has been no further update on this and therefore the assumption is that the market price remains the same Purchase Market Purchase Market Price as at Price as at Price as at Price as at 31-Mar-25 31-Mar-25 31-Mar-26 31-Mar-26 £ £ Investment £ £ (289) (199) 4% Clydeport Authority (289) (199) (35) (19) 3% Clydeport Authority (35) (19) (324) (218) Total (324) (218) Alexander Cameron – Following a decision on 1st September 2025, £20,000 was invested on a short-term variable basis, with the remainder (£98,944) invested on a longer-term fixed interest rate basis with the Council for two years at 4.62%. The closing value of the investment, including interest, was £98,944. Note 6 – Audit Fee The audit fee for the year of £10,628 (£10,190 2024/25) was absorbed by the Council.