The Virtual Hamilton Palace Trust Charity Accounts

COMPANY REGISTRATION NUMBER: SC253452

CHARITY REGISTRATION NUMBER: SC034592

The Virtual Hamilton Palace Trust

A Charitable Company Limited by Guarantee

Unaudited Financial Statements

31 July 2026

The Virtual Hamilton Palace Trust

A Charitable Company Limited by Guarantee

Financial Statements

Year ended 31 July 2026

	Page

Trustees' annual report (incorporating the directors' report)	1

Independent examiner's report to the trustees	3

Statement of financial activities (including income and expenditure account)	5

Statement of financial position	6

Notes to the financial statements	7

The Virtual Hamilton Palace Trust

A Charitable Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors' Report)

Year ended 31 July 2026

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2026 .

Reference and administrative details

Registered charity name	The Virtual Hamilton Palace Trust

Charity registration number	SC034592

Company registration number	SC253452

Principal office and registered	Lennoxlove Estate Office
office	Haddington
	EH41 4NZ

The trustees

	G.H. Evans
	G.P. Mackenzie
	G.M. Wyllie
	C.E. Macqueen
	R. Pirrie

The Charity enjoys the patronage of Alexander Douglas-Hamilton, 16th Duke of Hamilton.

Company secretary	Robert John Millar

Independent examiner	Andrew B Wilson BA CA
	Nelson Gilmour Smith
	Mercantile Chambers
	53 Bothwell Street
	Glasgow
	G2 6TB

Structure, governance and management

Constitution

The organisation is a charitable company limited by guarantee (No. SC253452), incorporated on 29 July 2003 and registered as a charity on 19 August 2003 (No. SC034592). The company was established under a Memorandum of Association, which set out the objects and powers of the charitable company, and it is governed under its Articles of Association.

Membership and organisation of the Board

The day to day operation of the trust is arranged and managed by the directors of the Executive Committee. Members of the Executive Committee are entitled to propose representatives to serve as directors and charity trustees.

Trustee recruitment and induction

Directors (Charity trustees) are recruited by invitation and their duties are explained to them in full. In addition, they receive a copy of the OSCR guidance for Charity Trustees.

Objectives and activities

In order to advance still further public knowledge of the significant role of the Dukes of Hamilton and their internationally famous art collection over more than 400 years, the directors have agreed that the Trust must embark on fundraising and continue work on improvements to the Trust’s website.

Achievements and performance

At the Board meeting following the Annual General Meeting in November 2025, the current Chairman and Vice-Chairman were re-elected to serve another year. The Executive Board held further meetings in March and June 2026.

In October 2025 the Trust supported an event celebrating the publication of Dr Evans's landmark book on the Hamilton collections. Earlier support towards indexing and printing of the work had worked toward a successful outcome. The publication of this landmark and seminal work has finally allowed institutions and the wider public access to the extensive and detailed examination which Dr Evans gives to the formation and dispersal of these internationally important collections.

Work continued throughout the year on improvements to the website. A more professional feel has been given to the handling of enquiries. Steps have been taken to protect the technical documentation and code by creating a dedicated repository site controlled by the Trust. Hosting costs have been investigated and, in particular, the extensive archives are now on a free hosting plan. Analytics have been introduced on the main site with weekly reporting to the Board members. As the financial year ended, work on animating images of four of the main rooms in the palace was being advanced.

The Board is aware that attention has to turn to improved archive access. Costings are being explored and the Board is setting time aside to consider where the virtual reality project should be in three years' time.

Financial review

During the current year, the Trust received income of £2,746 and incurred expenditure of £3,850 thereby incurring a deficit of £1,104 for the year (2025 – Net expenditure £361) and ended the year with reserves of £12,928 (2025 - £14,032).

Reserves policy

It is the intention of the charitable company’s Board to build up unrestricted funds as reserves to a level which can cover the costs of refreshing the resource base as required. The directors recognise that this process will take time and will be achieved by securing unrestricted grants.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report (incorporating the directors' report) was approved on 12 October 2026 and signed on behalf of the board of trustees by:

G.M. Wyllie

Trustee

The Virtual Hamilton Palace Trust

A Charitable Company Limited by Guarantee

Independent Examiner's Report to the Trustees of The Virtual Hamilton Palace Trust

Year ended 31 July 2026

I report to the trustees on my examination of the financial statements of The Virtual Hamilton Palace Trust ('the charity') for the year ended 31 July 2026.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Independent examiner's statement

Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of ICAS which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or

2. the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Andrew B Wilson BA CA Independent Examiner

Nelson Gilmour Smith Mercantile Chambers 53 Bothwell Street Glasgow G2 6TB

12 October 2026

The Virtual Hamilton Palace Trust

A Charitable Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 July 2026

	2026		2025
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	2,746	2,746	13,420
		-------	-------	--------
Total income		2,746	2,746	13,420
		-------	-------	--------

Expenditure

Expenditure on charitable activities	6,7	3,850	3,850	13,781
		-------	-------	--------
Total expenditure		3,850	3,850	13,781
		-------	-------	--------

	-------	-------	--------
Net expenditure and net movement in funds	( 1,104)	( 1,104)	( 361)
	-------	-------	--------

Reconciliation of funds

Total funds brought forward	14,032	14,032	14,393
	--------	--------	--------
Total funds carried forward	12,928	12,928	14,032
	--------	--------	--------

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

All income and expenditure derive from continuing activities.

The Virtual Hamilton Palace Trust

A Charitable Company Limited by Guarantee

Statement of Financial Position

31 July 2026

	2026	2025
Note	£	£

Current assets

Cash at bank and in hand	13,408	14,032

Creditors: amounts falling due within one year	11	480	–
		--------	--------
Net current assets		12,928	14,032
		--------	--------
Total assets less current liabilities		12,928	14,032
		--------	--------
Net assets		12,928	14,032
		--------	--------

Funds of the charity

Unrestricted funds		12,928	14,032
		--------	--------
Total charity funds	12	12,928	14,032
		--------	--------

For the year ending 31 July 2026 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

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

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

These financial statements were approved by the board of trustees and authorised for issue on 12 October 2026 , and are signed on behalf of the board by:

G.M. Wyllie

Trustee

The Virtual Hamilton Palace Trust

A Charitable Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 July 2026

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is Lennoxlove Estate Office, Haddington, EH41 4NZ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

4. Limited by guarantee

Every Member of the Company undertakes to contribute to the assets of the Company in the event of the same being wound up during the time that he is a Member, or within one year afterwards, for payment of the debts and liabilities of the Company contracted before the time at which he ceases to be a Member, and of the costs, charges and expenses of winding up the same, and for the adjustment of the rights of the contributories amongst themselves, such amount as may be required not exceeding one pound (£1.00) sterling.

5. Donations and legacies

Unrestricted Funds	Total Funds 2026	Unrestricted Funds	Total Funds 2025
£	£	£	£

Donations

Donations	2,746	2,746	13,420	13,420
	-------	-------	--------	--------

6. Expenditure on charitable activities by fund type

	Unrestricted Funds	Restricted Funds	Total Funds 2026
	£	£	£
Collections book publication	3,193	–	3,193
Support costs	657	–	657
	-------	----	-------
	3,850	–	3,850
	-------	----	-------

	Unrestricted Funds	Restricted Funds	Total Funds 2025
	£	£	£
Collections book publication	7,920	5,000	12,920
Support costs	861	–	861
	-------	-------	--------
	8,781	5,000	13,781
	-------	-------	--------

7. Expenditure on charitable activities by activity type

	Activities undertaken directly	Support costs	Total funds 2026	Total fund 2025
	£	£	£	£
Virtual recreation	–	130	130	–
Collections book publication	3,193	–	3,193	12,920
Governance costs	–	527	527	861
	-------	----	-------	--------
	3,193	657	3,850	13,781
	-------	----	-------	--------

8. Analysis of support costs

	Virtual recreation	Total 2026	Total 2025
	£	£	£
Communications and IT	130	130	–
	----	----	----

9. Independent examination fees

	2026	2025
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	480	–
	----	----

10. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

11. Creditors: amounts falling due within one year

	2026	2025
	£	£
Accruals and deferred income	480	–
	----	----

12. Analysis of charitable funds

Unrestricted funds

	At 1 August 2025	Income	Expenditure	At 31 July 2026
	£	£	£	£
General funds	14,032	2,746	(3,850)	12,928
	--------	-------	-------	--------

	At 1 August 2024	Income	Expenditure	At 31 July 2025
	£	£	£	£
General funds	9,393	13,420	(8,781)	14,032
	-------	--------	-------	--------

13. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2026
	£	£
Current assets	13,408	13,408
Creditors less than 1 year	(480)	(480)
	--------	--------
Net assets	12,928	12,928
	--------	--------

	Unrestricted Funds	Total Funds 2025
	£	£
Current assets	14,032	14,032
Creditors less than 1 year	–	–
	--------	--------
Net assets	14,032	14,032
	--------	--------