Report ofthe •ud Umudlted FIts¢ Ststonellts for the Yur Ellded 5 Aprll 21114 CIB Services 63 Ke1¢th Street Stornoway Isle of Lewis HS12DS
THE WILLIAM hlACKENZIE TRusr Colltents •f ibe FID••thI Sta¢uneAts fw Ihe Yer Ended 5 Aprll 2•24 PEe Repwt •Cthe TretS 1 kn 3 IDdepeDdcDt EJ4wl•erfs Rw¢ B•lee Shed Nrtes to th¢ Flll•tsd Stste4Mnts D¢tlled Stt¢wit •f If1D*ne1 Adlvltl 12
THE WILLIAM MACKEN7JE TRusr Report •ftke Trnrtees for ¢h¢ Yur ENded 5 April 2024 The tn¢t8 present their report with the financi&l S¢aic4nts of the clmrity for the year eaded 5 April 21Y24. Tr Inr¢S have adopted the provisi0Ths of Accouniin8 and RqKnin8 by Clwiiies: Swement of Recoffrfnended Practice applicable to ¢lthrities pr¢parin8 tbeir 4C¢Olmts in •C¢OTd• with the Fitwial RA18 Stattd appli¢abk in thc UK and Republic of treland (FRS 1021 (effe¢tive l Jamthry 2019). Objeelives And The ChatiW3 revenue is cled from the iDv¢slmenl of Tr¢¢ived in 1981 in cordan( with the TTUSt Deed. the IM)Iding of the slwe capitsl of James Ma¢keDzie & Son5 IAmited vns 501d for £182.071. Professio[7 investment advice is tsken si¢ that date sutTKient investment income h&$ rue7ved each to meet all ¢ompliaftt re4 for WiSthTLtt from PTiTnary b¢tefKiaTi¢S to p¢mit th¢ pyntst of r¢sidual ittcott to St PetePs Episcopal U[c1L The investtneTht policy is aimed at mainlatning th¢ real value ofthe capital ofthe TnL8t and providing a re&8onable level of income. Granrs 8re paid w, or on th11[ of, beDeficiaries 8s Splfied ID the Trusi Dd or to groups retw¢nting su¢h individuals. Ehea$C is in ¢oDfi(kn¢e aN1 usually ittvolve a PttSon visit io the applieaDt. ACHIEVEMENT AND PERFOIIMANCE ChrltAbl¢ •¢tlvltles In fiJlfillinE the obli88ti(m5 pIKed rm the TDJstees by the la Malcolm A Mxken7ie the inLY)nx received during the ar was di$buT8ed follow5.. 2024 £921 2Cr13 £9.991 Grants to Individuals Groups a¢ting for n1VIdUal$ Revive MS sUpt cr8$road8 L¢wi5 Alzheinvs Lewi5 & Harris £9,822 £9.991 The bala¢ of fu18 available to & se(ry trficiaties, St Peth Q)iwal Storn0Y, is £28,592 (2023.. £30,805). The total investnwnt income thi% year £39.650 {2023: £41.974). In the 42 yeaws since tlLe mafuially clw]8ed its activi¢ie5 ftsllowing sNle of the origiDal investment in ja5 Mackenie & Son5 Limitrd the original Inv1 of£182.071 has paynthts to beneficiaries in the forty two years of £1.4S4.99912023: £1,416,585) afftd th¢ u&xtal has a VAluc of £1.363.YYK) (2023.. £1.32S297). The Tru$t¢es ¢ontinw tv Tvly the gyi4bTKY of stkb[kc[s in their inv¢stuKut strat¢gy. FINANCIAL REVIEW ReseTYeJ polky The temK8 of the Supplemthtlll Trst Dwl rwuirc the Tr%$ io off¢r annu&lly to Vestry of St Peter¥ Episcopal ChuTch, StonK)vr4y. th¢ rcsidu¢ of incomc not utslisd for b¢ncficlari. Thc sum5 aTC alw•y8 a¢c¢p*d by Ihe Churclth and a9rd11lY no rev¢aue ru¢15 r rctatned. STRUCTURE. GOVERNANCE AND MANAGEMgNr Governlng doeumemt The tharity is contyolled by Rovernjng •JMI conwiwtes Unincted ¢h8Tity. Pag¢ I
THE WILLIAM MACKENZIKTRUST Rep•rt •f the Tteel r the Year Ended 5 Aprfl 2•24 Thc Trust IYd5 Originally go[rd by a D¢rd of Tn ¢aablish by th¢ lat¢ Malroltn A. Mackcnzie on 8 September 1962. The principal objects of the Trust are lo assist ag and iDfirm pcr50ns [idIng Tthin thc formw Bwgh of Stornoway to enable them to continue to reside in their own hornes aTrJ ayoid the neSsIty for thcir rcmoval to ? publi or ollkr inmitytion. sh assisfance to be in addilioti to. not in gjbstirution for. any wrlfare service which is offcred out of public fiJnd& Funds u(ilised by the rteedg of the prinw beneficiaries are offered the Vestry of St Pei&s Episcopal ClWrC SthnMIwAyi as beneflarI On 28 July 2015 8 Supplenxntal Deed of TTUSt Was Tegisteral 1¢h Ixougbt the lmitiistrnlion of the ehAriry in line with rutT¢lli ¢h8rity law and pra¢tice scotla The suppkmetI Deed ha5 varied the bou to which the Tnt can provid¢ assislanrx to ol the HSI pCOde ar¢a and hu T¢mov¢d th¢ now rrdwthnt elements of the original Deeds PTovisions oll ben¢fKiaTies wkn are now longer with Oth1 th¢ Trust Continu to (y¢rat¢ along the same fouttdJn8 piir4yl¢s estsblished by the la Makolm A Mackenzie. The office of ihe Scottish Cbarty Re8ulaloT approved the to the chlty Govulling Oxuments on 17 July 2015. Rettultmenl ppokntment ofnew tnute ln xcordance wiilL the PTovisions of lh¢ Sum>lemcntsl Tn1 Deed, th Tnee$ hold office fis senioT or managin diT¢Ctor of Mann Judd Gcrdot4 Charted AccouDtaDls, &(Knoway. as th¢ iD¢UtnbBnt of st P¢teE$ Episcopal Cburch, Stornoway and as sl0r nwuEer olthe Bank of Scdland, Styrnow7y as is selected by the said bratkth Fyrt]Kr Tntsttts ¢att appointed 4$ Tequile De(ision rn4king Th¢ Board m¢¢t Iwicc p¢r y¢ar lo r¢vicwTtusl aff•irs io appro •ny l•rgrr for SUPPWL Individual requ¢sis for SUWOrt tre often ttqlliring imnlialt considerniion 10 minimise su(ferin8 foT the claimants. Reque5 arE th¢Tefore assesd a5 thEy in ag#iDst the Cli18 of the Tn1. If eligLIAe for support the c1&in are pro¢e5soJ swiftty ti8 lo¢al Supplie ykneverb REFKRENCE AND ADMINISTRATIVE DEfAILS ReRl$t¢red Charlty SC001598 PrlncSpal address 26 Lewis Strttt Stomoway Isle of Lewis HSI ZIF Trust¢e$ Inde endeni Exfiner CIB S¢rvi¢es 63 Krnneth Street StOrnOWE4y Isle of L•vis HS12DS Ballktrs DaDk of Srotland 47 CromKII Strc¢¢ Stornovdy Isle of Lewis HSI 2DE P•8e 2
THE WILLIAM MACKENZIETRusr Report Qfihe TrustttS for Ihe Year Ended S April 2024 REFERENCE AND ADMINISniATIVE DETAILS lTrYesme•t MnAgers Rathb(Trne Investtnent Management George House 50 Grge Square Glasgow G2 IEH .. sisd on Its bthalf by..
The m¢keIe Trut I report on the accounts for the IrArerde415 Apil 21r24 set oth on pys five lo eleven. Respe¢tlYe re4>&nslbllltt¢S Dr irw¢e¢ eX1¢r The charitys truste are responsible for the preparatson of the 4coouDts in accor with the of the Clwities atld Tntstre ltsvesttrrtnt (Scottatyj) Act 2005 the (jrt"tieS ACCow (ScotiaThl) Rwiations 2006 (as amended). The thariws Ine¢S consider thai th¢ audit requiranenl of Rcgulatic•] l(Kl Xa) ¢0 (c) of the Ants R¢8ulats"(trns not apply. It is my respowibilicy to examine the acccrtmts as reqwiyed Section 44(1)(c) of the Act 4nd to 51ate wh¢thcr Basis of ike llldependtjht eumlmer's report My ¢xarnination wa5 catTied in aLYOTdgw¢ RegUl10n I l of the Chariti¢s A[)UnIS (Scotiandl Regulations 2006. An examination inCleS a review of the accountin8 vecords kept by the charity and a cornpari50n of the AUnIS pleI¢d with thos¢ rKords. It also wKlud¢s Colon of w unuwal or disclosur¢s in the accoullts. and seeking ¢xplanaii0Th5 from you u trw¢tts nCerning suth The prur¢S dertak¢ll do provide all the evidence that would be Tequired in an audiL aThd corLfquendy I do express an auth't opinion cffl the view given by the accounts. Indepeudeot ¢Mmiu¢r'$ (l) vknich 8ives me Teasonable cause to believe thal in any mawial wecE the requirements to keep accountin8 rordS in accord with Section 44(IX&) of the 2W5 Act Reort 4 of the 2(XJ6 Aecounts RegulatiotLS' and to pr¢p iccounls whith accord with the *)LI1ng [trdS and ¢0 Tp]Y with R¢gu18tiM 8 of thc 2006 Accounts Regulations h3v¢ b¢¢n m¢t: or (2) to Whi in my opinion, attention sTrKrtJld be dtawm in ordu to enable a tryer Understandi of the accounts be reached. The Inqiikntc of Chartcred Accountsnts of Scolland CIB S¢rviKs 63 Kenneth Stre¢[ Storn¢)w8y Isl¢ of Wi$ HSI2DS Date.. Page 4
THE WILLIAM MACKEN7JE TRUST StteDrnt of Financial Artiviths for the Yr Endtd 5 Aprn 2024 5.4.24 Unresrricd Jnd 5.423 Total lId$ ILYCOME AND ENDOWMEfTS FROM InvFSI]n¢nt incon 39.650 41.974 EXPENDITURE ON Raisin8 futMIs 11.484 11.595 Chrlible #¢tfvld Grants io individual benefi¢iari¢8 Grants t0 5Kondary beneficiary Governae costs 9,822 28J92 1236 9,991 30.805 l.l?7 Totsl 51.134 53.568 Net 8aittsl(10ss¢5) on inve#m¢nis 50.081 (74.704) NET INCOIMFJ(EXPENDITUBE) 38.603 <8fi298) RECONCIL]ATION OF FUNDS Tot&1 fidS broutht forward 1.325297 ,411,595 TOTAL FUNDS CARRIED FORWARD 1.363.9 1.325.297 The noies fonn pan ofthese ruw181 sthiements Pjge 5
THE WILLIAM MACKENZIE TRUST B4lan¢¢ Sheet 5 Apnl 2024 5.4.24 UnstrIcted fynd 5.4.23 Total funds FIXED ASSET5 Investments 1.286,593 1246.616 CURRE14T ASSETS Drbior5 Cash ot t4nk 40.119 41.098 106259 110.742 CREDITORS A[nts falliThg due within ovz year {28.952) I32,(1) NETCURRENT A&SETS 77.307 78.681 TOTAL ASSETS CURRENT LIABILITIES 1.363.5XJO IJZS.297 NET ASSETS I.363.0 1.325,297 FUNDS Unr¢strK¢ed I3630 25 TOTAL FUNtKs 1363W a7 cial 51a*rnents We apprOd by the Board of Tw4ee5 and authorisoj for i55U¢ .. and We s¥gMd on ils behalf ty.. The notes forni w olihcse financial Page 6
THE WILLLIM MACKEF4ZXE TRUST Nrte5 t• the FRnAMIAI Statements fw the Ytr Ev41 5 Aprll 2•24 ACCOUNTING POLICIES of prrpariNz th¢ fiu•nci•l #¢theI$ Tr financial ststeme¥Ats of the charity. 15 a pthlic IKn¢fit alty uThkr FRS 102. bKn prqyared i acCOrdat with the awiiies SORP (FRS 102) 'ACcou1ng aDd Reporting by CharitlC5'. 5tatem¢nl of R¢¢or¥rnded Pra¢ti¢¢ appli¢able to clArilies their accounts in x&)rdanc¢ with th¢ Financi81 Reportin8 Standard applicable in the UK Rwbkn'c of tT¢lJnd (FRS 102) (¢fftCtI l January 2019)., Fin¢t81 Reting Standard 102 Tr Financial RwrtiD8 Standard all¢ab in the UK and Republic of Irelafyl, and the Charities attd Trustee Ittyestot (SCoda]) Act 21rf)5. The finallciai 5talements bav¢ been prepared under ihe hist]1 cost ¢onv¢ntion, with th¢ extrptiott of itwestrrtents vknich are included at market value. as modifi¢d by th¢ r¢vahJau"on of certam asstt FluntlAI report1•¥ Stdir 102- red txeThprfD The charity has tsk¢n advaNa8¢ of th¢ folhwing disclowte exemption in prwaring thesc fancIal 8tai¢mcll13. as pennitted by FRS 102 Tr Financi Repillg StsDdard appIlble in the UKatrJ RewthlK of ZT¢land': the requireftnts of Sethion 7 ofcash Fkn tn¢•me All irne is ronised in the Stst¢mBn¢ of Fil¢]31 Adivities on¢¢ tbe Charity h&$ enlidenient to the it 15 probabk that the will be receive41 and th¢ anY)U can b¢ reliably. Exp¢ttdlture Liabilities TCw1d as ¢ApcnthTh as Is there is a leyl or coDs¢nxtive (bligatifjn committing the harity ¢0 ihal experlitrE, il ks probable that a tra¢r of onomIC bettefits will be rcquired in settlement and Ihe amount of th118aLiOA be nKa8ured r¢liobty. Eipendilure is for on an accnlals basis and has ell classified lllld headillgs thai aweEa all com Teled to the caL¢EOry. costs cannot be directly attribled to particular headings W have been ¢0 actiVilAes OD 8 b•sis consisteni with the of Grants ofF¢red subjtrt ¢0 umdiliQtrS wbi¢hknve be¢omd at the date are )ted as a rMmitMent but Jt ¢nd 05 expenditire. Taxxtion Th¢ rharity 13 u¢mpI fivrn vn its thHritWe activiti Fund ac¢ouDtl•g Unrestriaed bjnds can be used x¢ordw with the charitsble objectives at the discretion of the trustee$. Restriffled fimds can onty be used for particUlarstrIctl purposa within the obj'ects of the Clwity. RtridIO% arise when Spvified by tr donor or when fijnds are rAAsed for pArts"cular ra8tri¢ted putposes. INVESTMEWt INCOME 5.4.24 5.4.23 Dividends received Bank interest recei•Kd 39.650 41294 680 39,650 41.974 onliau¢d...
THE WILLIAM MACI(EN71E TRusr N•tes t• the Flllndl Sttenw•ts- co•tinued f•r the Y¢w Ended 5 Aprll 2024 RAISING FiIN 5.4.24 5.4.23 SupFJrt W5ts 11,484 11.595 TRUSTELS. REMuf4ERATION AND BENEFITS Th¢ TTUSI¢u T¢c¢iv¢d no from thw rok as Ttusl¢es during the )rar. ry out the day to day admiiuswion of th¢ Tnw. dealmg with daInw8 atyl with suppliu8 of gwd3 to claimants. The TnL8tees have aP[Ved fee of £876 iwlu5iNt of VAT as a paw iowards the Costs of thinis¢raiion in favour of Mann Judd Gordo There w¢r¢ no ¢nth¢e< ¢xpen5t& pid for th¢ ytr 5 April 2024 ttor fiw the year o¥Jed 5 April 2023. COMPARATIVLS FOR THE STATEMENT OF FINANCIAL ACTivfTIES Ujjrcstrictcd INCOME AND ENDOWMEYTS FROM Inv¢$tllKnl iwMne 41.974 EXPELYDITURE ON R&isitig futbjs 11.595 Charlt#bl¢ Adiviti Grants to individual b¢fir1¥T1r Grants to secajdary beneficiary Governance cOS 9.991 30.805 I,iTT TDtAI 53.568 Net Elin(Lo$S¢S) on investn {74,704) NFf iNCOMFJ(EXPENDITURE 186.298) RECONCILIATION OF FUNtKs Toral funds IKought fotward 1,411,595 TOTAL FUNDS CARRtED FORWARD 1.325.297 Page 8
THE WILIJAM MACKEN71E TRU Nirt¢s ts the FIMndl Sttemeats- al1Ued rthe Y¢•r Elld 5 Aprll 2924 FIXED A&SET INVFsfMENTS itiveslmcttts Ai 6 AlI 2(J23 Addition5 Disposals R¢vaLuation5 1,246.616 295,OS4 (302,342) 47.265 At 5 Awil 2024 l.286,593 NET BOOK VALUE Ai 5 April 2024 1.280.593 Ai 5 Apn"12023 1.246.616 Th¢ff W¢T¢ itiVeSttt Is outsith the U Cost OT vaon ai 5 ApTiI 2024 is r¥FYaent¢d ty. List¢d inveBtmen15 Valuation itL 2024 1286.593 5.4.24 5.4.23 Stockbroker- dealing Stockbroktt- Capital Account ,121 31.998 41,098 40.119 41.098 CREDITORS: AMOUNTS FALLING DUE [IN ONE YEAR 5.4.24 S.4.23 TrAde ctditors Amount 0d to s¢¢onry b¢ttefieiary Accrued exp¢nses 895 30.805 361 28.592 360 28.952 32.061 Page 9 continued..
THR WILLIAM MACKEN7JETRUST Nrfm to the FIMxll Sttemeots- eoDtlnued Cor the Year Fded S Aprll 2•24 MOVEMENT IN FiINDS At 5.4.24 At6.423 iti fimds UDrestrl¢ied fynds Get1[ fund 1.325.297 38.&)3 1.363,91JO TOTAL FUN 1,325.297 38.603 1.363.9 Net in fimth. IlUd¢41 in follows: losscy in funds Unrestrieted fvids CJ¢ner&l fimd 39.650 (51.134) 50.087 38ffi03 TOTAL FUNDS 39.650 (51.134) 51J.087 38.603 Compar&tlv¢s f•Y movement In Net At 5.4.23 At 6.4.22 Unre9trl¢t¢d fuM•h General fijnd 1.41 lJ95 {86,298> ,325297 TOTAL FUNDS 1.41 lJ95 86.298) 1.325.297 Coll¥yaraiiv¢ )VenLI in ID the aEove are fdiows: Iw)minB R[M¢S Gains and MoV¢Thl 105SPS Unre¥trl¢t¢d Gcncral fimd 41.974 (53.568) (74.704} 186298) TOTAL FUNDS 41.974 (53.568) (74.704) (86,298) Page 10 Continued...
TIIE WILLIAM MACKENZIE TRUST Nrtes to the FI¢11 Staternents- roNlinued for the Ye#r Ended S Aprbl 2•24 MOVEMENT IN FUNDS- ¢•ntlnu A current year 12 mcffiths and prirff yw l? months mbIned pDs•lion 15 a5 follDW5". moyement in funds At 5.424 Ai 6.4.22 Unreslritttd funds fj¢neTal fund 1.411,595 (47.695) 1,363.9(K) TOTALFUNDS 1.411.595 47 695) 1 363.900 A Cyent year12 rnonths and prioryetr 12 months u)mbiwi nel rN>vement in fuThJ& included in the above are as follow5.. Incoming Ga$ )d k)$5e$ Movemenl in futsds experyjed Unr$trftid General fijnd 81.624 (104.7021 {24.617 147.6951 TOT A I. FUNDS 81.624 {104.7021 24.6171 47 695) 10. RELATED PARTY DISCLOSURES siee. 15 also a Direaor of Jd CK)thn Chartered Ac¢wnIts. Ddai15 of any fees paid btiiieen Ihe'l'rusi and Mann ld are ser oui in nNe 4 ihe c1)Unts page #. Si Ptlers [piLipal Chiiri annually. effecl the residui thai is'ould be p. eclared an interest in meetings where matters will ultimately ble lo Ihe K'e5tsy. Followin rrfimient fm the Tru& hi% su¢ttssor, a150 decIEd an interest in meetings whue matters will ultimately elTect the res&due payable to the vesty. Pagell
THE WILLIAM MACKENZIE TRU Detllled 5¢ateTU¢ of Aedvllles f•r ¢he Yur Ended S Aprll 2024 5.4.24 5.4.23 INCOME AND EIYDOWMENrs Inwestmtnt Ineon Divldends received Bank intest Teccived 39.650 41.294 680 39,650 41,974 TotAI Ineonthg ruollr¢es 39.650 41.974 EXPENDITURE Ch•rh&bie a¢dvld Grants to itL%tilulions to irylividuals 28,592 9,822 30,805 9,991 38,414 40,796 Support ¢(uts G•venha#te ¢osts Bank and investmenl c Administration lttdeF¢ndent Examiner fte 11,484 876 360 11.595 817 360 12,T20 11772 Toilll nsourccs up¢ 51.134 53.56B Net expendlturt before galllj Mlld l•sxs (11,484) (11,594) ReAllsed rttoittlsed pltts *nd 1•oes Realised gain(loSSeS) on fixed asset invesknmts 2,822 (513) Net expendilure {8,662) (12.1071 Pa8e 12