Charity registration number SC041655 (Scotland)
Company registration number SC380815 (Scotland)
THE BOSWELL TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
THE BOSWELL TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M J R D Knox - Chairman
Mrs M F B Eliott
Mr P Kennerley
Mrs C A Knox
Ms G Watson
Dr W Zachs
Secretary
Mr P Kennerley
Charity number (Scotland)
SC041655
Company number
SC380815
Registered office
Auchendrane
By Ayr
Ayr
Ayrshire
United Kingdom
KA7 4TW
Independent examiner
Stephen Wilkie B. Acc C.A.
Azets
Ayr
Ayrshire
United Kingdom
KA7 1EN
THE BOSWELL TRUST
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6 - 7
Balance sheet
8
Notes to the financial statements
9 - 15
THE BOSWELL TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 September 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the The Charity's Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The objectives of the charity are the advancement of literary arts and education through the promotion of the works of James Boswell and the advancement of heritage through the restoration and preservation of the James Boswell family aisle and mausoleum in Auchinleck churchyard.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the The Charity should undertake.

Volunteers

The charity benefits from the work of volunteers in many areas.

THE BOSWELL TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Achievements and performance

Charitable Activities

Boswell Book Festival

Over the weekend of 10th – 12th May 2024 we ran 57 events, including writing workshops and a children’s festival. Additionally tours of Dumfries House were run regularly throughout the weekend, furthering the cultural benefit of the festival, and adding clear benefit to the local community.

Once again, we looked for entertaining and feelgood speakers who cut across our audience profile, such as Doon Mackichan, star of Two Door Down, the UK’s number 1 best-selling poet Donna Ashworth and master storyteller Alexander McCall Smith, all of whom brought big audiences through their popular appeal.

The programme catered for a rich range of lives from those of first-time memoirists such as former nun Catherine Coldstream; Suzanne Heywood with her quest to become educated; and journalist Jen Stout’s eye-witness accounts of the Ukrainian conflict; to those who have been working on their biographical subjects for a number of years such as Adam Sisman on John le Carre, podcaster and author Tom Holland on the Pax Romana, and William Dalrymple on the final book in his Company Quartet, focusing on the role of the East India Company. The variety contained in these talks brought in a very diverse audience.

One of our most successful examples of programming this year took advantage of the commemoration of the 80th anniversary of D-Day with the presence of veteran Patricia Owtram on stage followed by Olga Henderson, survivor of a Japanese Prisoner of War camp. Each of these talks had sell-out audiences showing the appetite for first hand witness accounts of people’s lives in history.

Once again, we were successful in staging events that relate to the Scottish experience or support Scottish authors and publishers with a number of talks tracing back in some way to Ayrshire, highlighting the creativity inspired locally, such as Louise Baillie with footballer Rose Reilly, novelist John Niven on the suicide of his brother and co-chair of the Future Textiles Training Programme at Dumfries House, Patrick Grant, on his book on sustainable clothing.

Still in Ayrshire, Billy Kay spoke about his Scots language memoir of growing up in Galston, and introducing another form of memoir was poet Len Pennie, also writing predominantly in the Scots language, on her debut frank collection. We are committed to giving the stage to emergent Scottish voices and joining Len Pennie were Jen Stout and new memoirist Kirsty Logan on queer motherhood, with the attendant benefit to them all of appearing on a programme alongside high-profile literary names.

Our event in partnership with The Cumnock Tryst allowed us to introduce famous composer and singer/songwriter Errollyn Wallen, more frequently to be heard in international concert halls, to our audience.

Creative non-fiction writing provided the opportunity to engage with various themes relating to lived experience fulfilling our diversity aims.

All of the above events helped bring in a local audience including first time festival attendees.

After the success of the online festival talks in 2022 and 2023, this year we were able to live-stream all main festival events allowing us to reach those who couldn’t physically make it to the festival as well as our growing audience who now follow us from further afield both nationally and internationally. It also allowed us to stream two pre-recorded interviews, one due to health issues and the other due to author availability. The very well attended Rory Stewart event with Allan Little had both an online and a live audience.

A Rover Pass giving access to all talks was made available for £35 which was much appreciated by people unable to attend for reasons of cost, distance, or poor health. Despite the increase in popularity of the streamed events there was no evidence that these sales took from the live festival with reports from people who had both attended the festival and bought online tickets to access talks they had missed over the weekend. Online sales continued until we took them down at the end of May.

THE BOSWELL TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -

Schools Day and Children’s Festival

The Boswell Schools & Children’s Festival kicked off with author Vivian French and illustrator Kate Leiper (Festival Illustrator in Residence) undertaking a project mapping the local neighbourhood in Auchinleck and Ochiltree primary schools. The resulting artwork was on show at the Children’s Festival and then in the local library. The project successfully raised awareness in the local communities of the forthcoming festival and directly led to children attending who would not otherwise have been there.

A total of 18 schools attended the free Schools’ Day on Friday 10 May with a curated ‘package’ of events and activities comprising: a session with ecology writer Ben Martynoga on making the future truly wild; a guided tour of Dumfries House to learn about its history and place in Scotland’s wider history; a workshop that encouraged students to think about the natural environment; and an opportunity to meet James Boswell as portrayed by actor and writer Kenny Boyle

The Children’s Festival took place in the Engineering Centre and the Outdoor Classroom over the weekend and offered a comprehensive series of talks from leading children’s authors, designed to engage with young families, and this year included Chae Strathie, Ben Martynoga and Jill Calder with a crossover event with footballer Rose Reilly in our main festival venue on Friday afternoon. Outside the venues, exciting interactive events, and free activities such as the treasure hunt combined to make a rich and stimulating programme. Amongst the most popular were the Scribble and Scrawl Crawls led by Jill Calder and Justin Davies. Good pre-event sales and more people travelling specifically for the festival this year were noted.

 

Future Plans

The Boswell Book Festival will be held at Dumfries House in 2025 from 9th to 11th May. Once again, we are planning a stimulating and entertaining programme which will be launched in March 2025. This will include a Schools’ Programme, and Family Festival. We remain committed to providing an online alternative so a selected number of events will be available to watch and enjoy on-line.

THE BOSWELL TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
Financial review

Reserves Policy

The charity operates both a general and restricted fund.

 

The General fund is available for use at the discretion of the trustees in furtherance of the general objectives of the trust. At the year end, there was £82,175 (2023: £101,135) in the general reserves. At the year end, all restricted funds were utilised.

 

Each year the charity aims to raise funds to meet the costs of their activities during the year and also enough to meet contingencies in the coming year and to provide an element of own resources for matched funding. The Trustees aim to maintain reserves of around 30-35% of annual book festival income. The Trustees believe that the amount in reserves at the year end is appropriate in the circumstances.

Principal funding sources

 

Our main source of income for the period comprised donations from charitable foundations, individuals and business of £57,500 (2023: £110,785) and grants from Creative Scotland £19,000 (2023: £29,714), East Ayrshire Council £25,000 (2023: £15,000). Ticket sales from the Boswell Book Festival increased to £50,196 (2023: £48,785) and other income, including gift aid, commission on book sales, friends, patrons, contributions towards admin and advertising income contributed to a further £8,662 (2023: £6,424).

 

The principal item of expenditure was the Boswell Book Festival, which cost £149,763 (2023: £142,757) and the Children's Book Festival which cost £22,297 (2023: £15,463)

The trustee's have assessed the major risks to which The Charity is exposed, and are satisfied that systems are in place to mitigate exposure to major risks.

Structure, governance and management

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

M J R D Knox - Chairman
Mrs M F B Eliott
Mr P Kennerley
Mrs C A Knox
Ms G Watson
Dr W Zachs

The trustees look to appoint new trustees who are committed to the aims of the Trust, and ideally have an association with James Boswell, Auchinleck and its surrounding area or Scotland more generally. The charity aims to have a balance of skills and experience amongst individual trustees.

The trustees' report was approved by the Board of Trustees.

Mr P Kennerley
Trustee
13 January 2025
THE BOSWELL TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE BOSWELL TRUST
- 5 -

I report on the financial statements of the The Charity for the year ended 30 September 2024, which are set out on pages 6 to 15.

Respective responsibilities of trustees and examiner

The Charity’s trustees, who are also the directors of The Boswell Trust for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Azets
3 Wellington Square
Ayr
Ayrshire
KA7 1EN
United Kingdom
Dated: 14 January 2025
THE BOSWELL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
Unrestricted

Designated

Restricted
Total
Unrestricted

Designated

Restricted
Total
funds
funds
funds
funds
funds
funds
2024
2024
2024
2024
2023
2023
2023
2023
Notes
£
£
£
£
£
£
£
£
Income from:
Donations and legacies
2
10,000
17,000
74,500
101,500
51,110
22,175
82,214
155,499
Charitable activities
3
2,439
56,419
-
58,858
-
54,964
245
55,209
Total income
12,439
73,419
74,500
160,358
51,110
77,139
82,459
210,708
Expenditure on:
Charitable activities
4
5,892
149,763
23,661
179,316
5,985
142,756
16,740
165,481
Net incoming resources before transfers
6,547
(76,344)
50,839
(18,958)
45,125
(65,617)
65,719
45,227
THE BOSWELL TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
Net incoming resources before transfers
6,547
(76,344)
50,839
(18,958)
45,125
(65,617)
65,719
45,227
Gross transfers between funds
-
76,344
(76,344)
-
(64,612)
65,617
(1,005)
-
Net income/(expenditure) for the year/
Net movement in funds
6,547
-
(25,505)
(18,958)
(19,487)
-
64,714
45,227
Fund balances at 1 October 2023
36,421
-
64,712
101,133
55,908
-
-
55,908
Fund balances at 30 September 2024
42,968
-
39,207
82,175
36,421
-
64,714
101,135

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
THE BOSWELL TRUST
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 8 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
83,561
102,521
Creditors: amounts falling due within one year
11
(1,386)
(1,386)
Net current assets
82,175
101,135
Income funds
Restricted funds
12
39,207
64,714
Unrestricted funds
42,968
36,421
82,175
101,135

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 13 January 2025
Mr P Kennerley
Trustee
Company Registration No. SC380815
THE BOSWELL TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
1
Accounting policies
Charity information

The charity is governed by its Memorandum and Articles of Association and constitutes a limited company, limited by guarantee as defined by Companies Act 2006 (Registered Number SC380815 (Scotland)). The charity is a registered charity number SC041655. The charity is registered with OSCR the Scottish Charity Regulator. The charity's registered office is Auchendrane, By Ayr, Ayrshire, KA7 4TW.

1.1
Accounting convention

The financial statements have been prepared in accordance with the The Charity's Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The The Charity is a Public Benefit Entity as defined by FRS 102.

 

The The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the The Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.3
Incoming resources

Income is recognised when the The Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income is the amount derived from grants, donations, book sale commission and Book Festival ticket sales.

1.4
Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
20% on cost
THE BOSWELL TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 10 -
1.6

Taxation

The charity is exempt from corporation tax on its charitable activities.

THE BOSWELL TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 11 -
2
Donations and legacies
Unrestricted

Designated

Restricted
Total
Unrestricted

Designated

Restricted
Total
funds
funds
funds
funds
funds
funds
2024
2024
2024
2024
2023
2023
2023
2023
£
£
£
£
£
£
£
£
Donations and gifts
10,000
17,000
30,500
57,500
51,110
22,175
37,500
110,785

Grants

-
-
44,000
44,000
-
-
44,714
44,714
10,000
17,000
74,500
101,500
51,110
22,175
82,214
155,499
Grants receivable for core activities
Creative Scotland
-
-
19,000
19,000
-
-
29,714
29,714
East Ayrshire Council
-
-
25,000
25,000
-
-
15,000
15,000
-
-
44,000
44,000
-
-
44,714
44,714
THE BOSWELL TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
3
Charitable activities

Charitable Income

 

Charitable Income

 

2024
2023
£
£

Ticket sales

50,196
48,785

Commission on book sales

2,098
2,821

Friends and patrons

3,765
3,098

Contribution towards admin

360
505
Gift aid receivable
2,439
-
58,858
55,209
Analysis by fund
Unrestricted funds
2,439
-
Designated funds
56,419
54,964
Restricted funds
-
245
58,858
55,209
THE BOSWELL TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 13 -
4
Charitable activities
Charitable Expenditure
Charitable Expenditure
2024
2023
£
£

Administrator's fee and other staff costs

47,496
51,320

Facility and venue costs

49,105
52,040

Speaker travel

3,821
3,013

Speaker fees and expenses

19,757
18,280

Design, production and publicity

16,716
11,576

Architect and landscaping fees

6,105
5,643

Advertising

9,850
1,582

Commission on ticket sales

1,366
762

Postage and stationery

721
1,033

Bank charges

136
475

Speaker hospitality and accommodation

17,845
13,852

Insurance

1,363
1,277

Sundries

3,649
3,240
177,930
164,095
Share of governance costs (see note 5)
1,386
1,386
179,316
165,481
Analysis by fund
Unrestricted funds
5,892
5,985
Designated funds
149,763
142,756
Restricted funds
23,661
16,740
179,316
165,481
5
Support costs
Support costs
Governance costs
2024
2023
£
£
£
£
Independent examination
-
1,386
1,386
1,386
-
1,386
1,386
1,386
Analysed between
Charitable activities
-
1,386
1,386
1,386
THE BOSWELL TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 14 -
6
Net movement in funds
2024
2023
£
£
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's independent examiner for the independent examination of the company's financial statements
1,386
1,386
7
Trustees

Caroline Knox received a payment of £20,000 (2023: £20,000) in the period for services to the Trust as an administrator. There were no trustees' remuneration or other benefits for the period ended 30 September 2024 nor for the year ended 30 September 2023.

Trustees expenses
There were no trustees expenses paid out in the period or in the prior year.
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
9
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10
Tangible fixed assets
Improvements to property
£
Cost
At 1 October 2023
5,040
At 30 September 2024
5,040
Depreciation and impairment
At 1 October 2023
5,040
At 30 September 2024
5,040
Carrying amount
At 30 September 2024
-
At 30 September 2023
-
THE BOSWELL TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
10
Tangible fixed assets
(Continued)
- 15 -

 

11
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,386
1,386
12
Restricted funds

 

Movement in funds
Balance at
1 October 2023
Incoming resources
Resources expended
Transfers
Balance at
30 September 2024
£
£
£
£
£
Children's Book Festival
-
22,500
(22,298)
(202)
-
Churchyard & Mausoleum
-
-
(1,363)
1,363
-
Boswell Book Festival
64,712
52,000
-
(77,505)
39,207
64,712
74,500
(23,661)
(76,344)
39,207

A transfer from restricted funds to designated funds was made to compensate for charitable spending in excess of designated fund availability.

13
Unrestricted and Designated Funds

These are unrestricted funds which are material to the charity's activities made up as follows:

Movement in funds
Balance at
1 October 2023

Incoming resources

Resources expended

Transfers

Balance at
30 September 2024
£
£
£
£
£
General
36,421
12,439
(5,892)
-
42,968
Designated funds - Boswell Book Festival
-
73,419
(149,763)
76,344
-
36,421
85,858
(155,655)
76,344
42,968
14
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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