Governance Constitution The purpose of The Cross Trust is to provide opportunities for young people of Scottish birth or parentage to extend the boundaries of their knowledge of human life and to employ their leisure in such pursuits as will foster their love of nature and improve their physical health and well being and whereby the British and especially the Scottish public may participate in the enjoyment of drama and opera from which Sir Alexander Cross himself derived lasting pleasure. In terms of the Constitution, the Trustees have an absolute discretion as to whether or not to make an award to any applicant. Objectives The objectives of the charity are broad and the Trustees over the years have thus been able to adopt policies reflecting the nature of applications received whilst continuing to meet the Trust’s objectives. Furthermore, the Trustees are mindful of Sir Alexander’s known wishes and therefore may make awards that best reflect the raison d’être of the Trust. Grant Making Policies Awards may be made to individuals and to organisations. Individuals Most awards are provided for educational studies or projects. Applicants are required to have a record of distinction and ability and to put forward proposals of demonstrable merit in a recognised discipline. Awards are made with regard to the extent of financial hardship anticipated if no award were to be made. Organisations The Trustees support the visual and performing arts as well as charitable organisations supporting disadvantaged young people through environmental and recreational projects. All of these awards are on a restricted basis. TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2018 The Trustees present their annual report together with the financial statements and auditors' report of the charity for the year ended 31 March 2019. a. Review of activities As in previous years, the Trustees have responded to a wide range of applications in terms of courses and projects proposed by individuals and organisations. In total 173 applications were received from individuals (118 in 2018) and 26 from organisations (37 in 2018). 133 awards were made to individuals and 14 to organisations. The Trustees continue to support students undertaking Medical Elective studies abroad and also the promotion of Vacation Studies in the Arts. Medical Elective studies were awarded in 5 cases. There were 6 awards for Arts Vacation studies. The range of awards made in relation to individual applications varied from £200 to £5,000. Awards were made to individuals across a wide variety of disciplines including music, dance, medicine, geography, design and law. Awards to Organisations of £2,000 or more were made as follows: Perth Festival of the Arts £12,000 Venture Trust £4,800 Royal Scottish National Orchestra £3,000 St Andrews Voices £3,000 Perth and Kinross Music Foundation £2,000 Strathclyde Youth Jazz Orchestra Trust £2,000 National Library of Scotland £2,500 Paws for Progress CIC £4,000 Project Trust £4,500 Scottish Seabird Centre £2,500 North Glasgow Community Food Initiative £2,000 The Trust continues to support the annual Festival run by Perth Festival of the Arts. in 2019 the Trust held a musical concert "Cross Trust Young Musicians" at St. Matthews Church, Perth as part of the Festival. This involved three beneficiaries of The Cross Trust who were magnificent and who gave thanks to the Trustees for the grants provided to them. The Trust intends to hold a similar Concert in 2020. b. Factors relevant to achieve objectives The Trust is administered on a day-to-day basis by the firm of McCash & Hunter LLP, solicitors, in accordance with directions given by the Trustees at their meetings, now normally held three times per year. The firm acts as the Trust’s Secretaries and Treasurers. Arrangements are made in certain circumstances for applications to be considered out with these formal meetings. Within the firm of McCash & Hunter LLP, Paul R McGregor, a partner of the firm, has the responsibility of the administration of the Trust. The Cross Trust was established by Sir Alexander Cross, Baronet, LLD of Battleby, Redgorton, Perthshire in terms of the Constitution completed in 1943 and is a Scottish Charity, number SCO08620. Trustees' responsibilities statement The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.