REGISTERED CHARfTI' NUMBER: SC￿1598 Report of the Trnslees •nd ￿￿udIted Fin•n¢i•l &al¢m¢nts for ihe Y¢xr Ended 5 April 2025 for THE WILLIAM ￿lAcKE￿IlE TRusr THE WILLIAM MACKENZIE TRusr Conleots of the Financial Stxtemrnts for the Yegr Ended 5 April 2025 Page RorM)rt of the Trnstees Independen¢ Exarniner'5 Report SiitemeAt of Financial Adivities Balance Shttt Notes to th¢ FinAu¢iAI SIAtefflents Detailed Statement of Firt*nei#l Arflvities 12 THE WILLIAM MACKEIYZIE TRusr Report of ihe Tru4ees for the Yrdr Ended 5 April 2(125 The trnSte￿ present their report with the financial ￿a(c￿ellts of Ihe ¢haiiiy for th¢ year ended S April ?025. The trustees hav¢ adowed the provisions of Acc￿jnI1Th8 and Reporling by ChaTit1¢5.' Siat¢tn¢ni of Recommended Practice applicable to rharilies preparing iheir accounts in accordance wilh ihe Financial Rew)rtin¥ Standard applicable in ihe UK and Republic of Ireland {FRS 10?) lelTeuive l January 20191. OWECTIVES AND ACTIVITILS Objeclives and ¥im$ The Charity's annual ievenue is eamed from ihe inve￿me￿I or runds received in 1981 when, in a¢¢ordan¢¢ with the Trusi Deed. Iht holding of the share rJpiial of Jam¢s Mack¢nzi¢ & Sons Limiied was y)Id for £182.071. Professional investment advi¢e 1$ laken and since thai dale sufficitnl investmetht inwme has been received each year to mecl all compliant requesis for assI￿an¢e from primary IKneficiaries and io perniii ihe paymeni of residual income lo St P￿erf5 Episcopal Chui¢h. Th¢ invesimeni policy is aimed ￿ mainiainin¥ the real value ofthe ¢apithl ofthe Twsi and providing a reasonable level of income. Granis are paid to. or on behalf of. benefKiaries as specified in ihe Tnjst tk¢d or io groups representing such individuals. Each C￿ is wnsidered in ¢onfidence and lar8ercases usualty involve a pvsonol visit io ihe applicant. ACHIEVEMENTS AND PERFORMANCE Charitable *¢liwitLe5 In fulfilling ihe Oblig￿lOn$ placed on ihe Tnwees by lh¢ la* Malcolm A Mackenzie the income received during the year was disbursed as follows.. 212$ Granis lo Individuals £9.87? Groups aetin8 for individuals R¢vive MS SuprKJrt Crossrtsads 12wis Alzheimers Lewis & Harris £5.6J6 £9.822 The balance of fund5 available lo the secondary beneficiarics. St Peiei's Episcopal Church Siornoway. is £3? 225 {20?4.. £28.5921. The ioial investment income this year was £39.1681?024.. £39,650). Ihe 43 years since Ihe maierially Changed lis acthviiies following ihe Sale of the original invesimenl in James Mackenzie & Sons Lsmiled the original invesimeni of £187 071 has produ¢¢d paymenls to beneficiarie5 the fony Ihree year5 of £1.492.860 I2024= £1.454.9991 alld thc capithl now has a value of £1.264.596 12024.. £1.363,9001. The Trustees coniinue to rely on ihe guidanceof 5￿kb￿K-e￿ in iheir invemmenl slrategy. FINANCIAL REVIEW Reserves policy The term5 of the Siipplemental Trn￿l Deed require the Trnutts to offer annually lo the Vestry of Si Peierfs Episcopal Church. Stomoiyay. the residue of income utilised for ￿Mary beneficiaries. The sums are alway5 accepted by the Church and a￿ordingly no revenue reserves are reiained. STRUCTURE, GOVERNAYI CE AP4D MANAGEMENT Governing dDrumenl The charity is ¢ontroll¢d by its governing docwnent. a deed of irust and constilules an unincorporated charity. Past I THE WILLIAM fvIACKENZIE TRUST Report of the Trnstee5 for ihe I'ur Emded S April 2025 The Trust was originally 8overned by a Deed of Trusi established by ihe late Malcolm A. Mackenzie on 8 September 1962. The principal obiecis of Ihe Trts￿ are io assisi aged and infirm persov5 rrsiding within ihe forn￿1 Burgh of Slomoway ¢0 enabk them to coniinu¢ to r¢side in their own homes and avoid Ihe necessity for their removal io a public or other illS¢ilulion. such aSSiSthn¢e ¢0 be in addIt￿rt to. a￿1 noi in Sub￿lIU1l0n for. arby ivelfare service whi¢h is offered out of public funds. Funds noi utilised by the needs of the pnmary benefKiaries are offered to ihe Vestry of Si Peterfs Episcopal Church. Siornoway. as secondar) beneficiarics. On 28 July 2015 a Supplemental Deed of Trust Wos regiyered which broughi the administrdlion of ihe charity in line with current charity law and PTa¢iice in Scoiland. The suppl¢m¢nial t)e¢d bas varied the boundary io which Ihe TTUSI can provide assistance io ihal of the HSI P0￿Code arra and ha5 wrmoved the now redundant elements of ihe original Deeds provisions on bcneficiarics who are now no longer wilh us. OtheTwise the Tru￿ coniinues 10 operaie along the same founding principles esiablish¢d by ihe l*e Malcolm A Mackenzie. The office of the Scottish CI￿ltY Regulator aFvroved ihe amendmenis to the charity CK)verning documents on 17 July 2015. The Deed of Trusi was further updai¢d in 20?4 in order 10 r¢move the 5￿cIfIed Bank tsf S¢tstland nominaied Trusiee followin¥ a change of p)licy by the bank. Thai Trusiee is now ￿)mIn￿e￿ fn)m ihe Stornoway rml of loul authority councillors who sit on Cornllairle Eilean Siar. Rtcruilment and appui*tmertt of ttew trnlltts In accordance wilh ihe wovisions of Ihe Svpplemental Tn￿1 tked. the Trustees hold office as senior ot manoging direeior of Mann Judd Gorriiy Councillor lap￿1￿1td 14,6.?41 Banktrs Bank of Scotland 47 Cromwell Sireet Siomoway Isle of Lewis HSI ?DE THE WILLIAM MACKENZIE TRUST Rep)rt of the Truslee5 for ihe Ye*r Ended S Apr•1 2025 REFERENCE AIYD ADMIYI ISTtiATIVE DETAItS Invtstment IMiThagers RaihtK)ne Invesimeni Managcment George House 50 Georg¢ Square Glas¥ow G2 IEH Approv d by order of ihe IM)ard of tnstees on 5 January ?0?6 and signed on Its behalf by". Mrl n E5kdale Moffat- Tn￿( Independent Examiner's Report lo the Trustee5 of The Willilrn Mackenzie Trnst I report on ik acc￿￿￿ for ihe yearended 5 April 2025 sd oui on pages five io eleven. Respettive re5POn5ibililies of I￿￿tee5 *nd eJ*ThiTrer The chariiy's ¢rus¢ees are responsibl¢ for ihe preparation of the accounts in accordance with the ierm5 of Ihe Charilics and Tmstee Investment IS¢oilarMII Aci 2(￿5 and the clian.ties A¢¢ounts IS¢oilathdi Regulo1ion$ 2006 las amended). The charily's tTusietS ¢Oll5ider tha¢ the audil requir¢tneni of ReBulalion 101 I Xal io 1¢) of lh¢ Arcounts Regulaiions does n apply. It is my respon5ibilily to e.¥amine the accounts as required uThler Section 441 I Ilcl of Ihe Act and io wheiher panicular mailers have eome io rny aiieniion. Basis of ihe Independthi ex#rniner'$ report My e¥arnination was carried oui in accordance with Regu￿110￿ I l of the Charitirs Accounis Iscoiland) Regulations 201)6. An examinaiion include5 a review of the accouniinsTr record5 kept by ihe charity and a corNpari50n of Ihe accounts presenied with iknse records. li also includes con5idtration of any unusual items or disclosure5 in the accounts, and seekingp explanaiions from you as iTUSttts o)nC¢Ynin￿1 any such matius. The procedures undenaken do provide all the evidcnct that would be required in an audit. athj ¢ons¢qu¢ndy I do noi express an audil opio¢on on the vi¢w given by the accounts. Independent tximin¢r'$ st*tem¢AI In Conn￿110￿ with tny c￿mINatIOn, no maiter has Come io my atieniion . I I I which give5 me reasonable cause to believe thaL in any ma*rial res￿. Ihe requirements to keep accouniing records in a¢¢ordan¢e wilh Seaion 4411 Ma) of ihe 2005 Aci and R¢gulalign 4 of Ihe 2006 A¢¢ounts Regulaiions: and to prepare accoun15 which accord wilh Ihe accounling records awl to compty with Regulatb)n 8 of the 2006 Accounts Regulaiions have M)t been mei.. or 121 lo which. in my opinion, altenlion 5h(yJld t¢ drawn in Ord￿ lo cnable a propff understandijjg of the accounts ID be reached. Donald Fors)'Ih CA Old ferinlosh Manse Alcwi Conon Bridge Hi&yhland IV78HU 20 July 2026 Pa8¢ 4 THE WILLIAM MACKEYZIE TRIJST Siattfflenl of FiTrant•il Artivitles tht I'mr Ended 5 April 101$ 5.4.?5 Unrestricied fund 5.4.24 Toial fullds No1¢5 IP4COME AND ENIM)WMETrrrs FRthM Investrnenl inc(wne 39,168 39.650 EXPENDI"IURE ON Raisin8 funds 11.962 11,484 Charitible activities Gran15 10 individual bevefi¢iari¢s Gran15 lo secondary beneficiary Governance costs 5.636 32.2?5 .307 9,822 ?8.59? 1.236 Total 51,130 51.134 Nel gain&llos5esl on investments 87.3421 50,087 NET INCOMEIIEXPENDITURE) 199.3041 38,603 RECONCILIATION OF FUINDS Total funds broughi forward 1.363.900 1.325.297 TOTAL FUNDS CARRIED FORWARD 1 ?64,596 I.363.￿0 The rt￿e$ fonn pan of these financial statements Page 5 THE IVILLIAM hlACKENZIE TRUST B•l*nce Sheel 5 April 202$ S.4.25 5.4.24 Total funds Unrcyricied fund Noks FIXED A&SETS Inv¢s¢ment5 .17?,065 1.286.593 CURRENT ASSETS Debio Cash at bank 55.512 70.30? 40,119 66.140 1?5,814 106.759 CREDITORS Amtsunts falling due within otte year 133 ?831 128,9521 NETCURRENT ASSETS 77.307 TOTAL ASSETS LESS CURRENT LIABILITIES 1.264.596 I.363,￿0 NET ASSETS 1.264.596 1.363.900 FUNDS Unreslricled funds 1.264,596 I.363.￿N TOTAL FVYDS 1.363.9 The financial si8iem¢nts were appmved by ihe Board of TTUSittS and audkn)ris¢d for issue ¢)n 5 January ?026 and ¥vere sisned on ils behalfby= MrJ Eskdalc Moffa¢- Trustee The ￿￿e$ forni port of ihese finarKial stsiements Pag¢ 6 THE WILLIAM MACKENZIETRUST Noles lo the Fift•N¢ial Staiernent5 the I'e*r Ehded 5 April 2(125 ACCOUNTING POLICIES Basis of pre￿rIng the financiAI statements The financial siaiements of ihe ehariiy, which is a public benefit entity under FRS 10! have been prepared in ac¢ordan¢e wilh lh¢ Chariii¢s SORP IFRS 10?) 'Aceouniing and Reixjrting by Ch8rilies'. Siaiemtni or Recommended Practice applicable to charilics prepariE)g their accounts in accordance with the Financial Reportsng Siandard applicable in the UK and Republi¢ of Ireland IFRS 10?> leffeeiive l January 20191,. Financial Reporting Siandard 10? The Financial Rewrting Standard applicable in Ihe UK and R¢public of Ireland, and ihe Charilies and Trny¢e Inv¢simeni IS¢oilandi Aei 2005. The financial stslern¢nts hove irert prepared ur¥Jer the hL5toriral (051 ronvention. with ihe excepiion of inve#menis which are included at market value. as modifjed by ihe revaluaiion of certain assds. Fingn¢lal rI￿rtIllg st¥nd*rd 102- r¢du¢¢d di5elosure exemptions The rharily ha5 lak¢D advaniage of lh¢ following disclosure exeniption in preparing these financial sth¢emenis, a5 perniitled by FRS 102 Ihe Financial Rep￿ing Standard applicable in the UK and Republic of Ireland,: the r¢guir¢m¢nis of Sedion 7 Si*emeni of Cash Flows. Income All income 15 recognised in the Statement of Financial Arlivilics once ihe chariiy has entiilernent ￿ the funds. il is probable Ihai the income will be rectived and the amouni can be measured reliably. Eipenditure Liabilitie5 are recognised as e.xpenditure as s￿n as there Is a legal or constructive obligation comn)itiing Ihe charity 10 that ex￿nditure. it is probable that a transftt of ¢¢￿10M1¢ ￿ner1¢S will be required in settlement and Ihe amouni of ihe obliga¢ion Cdn be M￿ured Telhibly. E¥pendilur¢ is accounted for ot) an accnjals basis and has been tlassified under headings ihai aggregate all cost relaied to ihe calwry. M'here cosis cannoi be direcily aiiribuied io particulai headirtgs Ihey have been alkKaled ￿ activitie5 on a basis Consistent with the use of re50urce5. Grants offered subject to eondiiions which have bEen ai the )ear end d￿e are JN)ted as a commitment but 01 a¢¢Ned as expendiiure. T#xation The chariiy is exempt from tay on its charilable activilics. Fund aCCOUniing Unre￿riC1ed funds can be used in accordance wilh the charithble objeciives ai ihe discretion of the Iru51ee5. Resiri¢l¢d funds can only be used f(K panicular remrithed puwposrs within the objects of the eharily. R¢slrictiOll5 ari5c when specified by Ihe thTh)ror when funds are raised for particular restricied purposes. INVESTMENT INCOME 5.4.25 5.4.24 Dividends ￿Ce1¥¢d 39.650 P8ge 7 continued... THE WILLIAM MACKENZIE TRUST Notes to the Fiuafiil Statements- ¢ontinued ror tbe Yur Efidtd 5 April 1025 RAISING FUNDS Investmenl Thanagernent costs 5.4.25 5.4.24 Support costs 11.962 11,484 TRUSTEES. REMUf*ERATION AND BENEFITS The Trusiees received no remuneration from their Tole as Twustee5 during the year. John Moffai. trusice. 15 a150 a direaor of Mavn Judd Gorth)n Lid ¢hart¢red A¢couniants. Mann Judd Gord(>n ¢arry out ihe day 10 day adminislrdtion of ihe Trusl. dvdling wilh clairnaTr15 and wilh suppliers of goods lo claLmanis. The Trusiees have approved an annual fee of £678 {2024: £8321 inclusive of V AT as a paymeni towards the costs oladminisiTaiion in favourof Mann Judd Gonk)n. Trnstets, exptnses There were rK) tTUStees' ¢.%pe[￿ paid for ihe year ended 5 April ?0?5 nor for the year ended S April 2024. COMPARATIVES FOR THE 5rATEME￿ OF FINANCIAL ACTIVITIES Unresiri¢ted fund INCOME AND ENDOWMENTS FROM Ilivcsimenl incoThe 39.650 E.XPENDITURE ON Raising fund5 11.484 Charitable #diviti Grdnt5 lo iDdividual benrficiaries Grdnts to secondary beneficiary Governartce cosis 9.822 28.592 1.236 Tot81 51.134 Net gains on inveslments 50.087 NET INCOME 38.603 RECONCILIATiof* OF FUNDS Toial funds broughi forward 1.325 ?97 TOTAL FUNDS CARRIED FORIVARD I.361.(￿0 Page 8 THE WILLIAM,%IACKEf*ZIETRUST Nt)tes to tht Financial Stateme￿¢5- tontiDu¢d for ihe Year Ended S April 2024 FINED ASSET IIYVEsfMENTS Listed inv¢sim¢nt5 MARKET I'ALUE Ai 6 April 20?4 Addiiions Disposals R¢valuatio￿5 1 ?86.593 246.821 1?68,3281 93,0?1 I Ai 5 April ?0?5 172065 NET BOOK VALUE Ai 5 April 2025 .172 065 Ai 5 April ?024 1.286.593 There were Th) inveslmeni a5ws ouiside the UK. Cost or valuaiion at 5 April 2075 is represenied by: Lisled inv¢stmenls Valuation in 2025 .17?.065 DEBTORS: AMOUNTS FALLING DUE WITHIli ONE YEAR 5.4.25 5.4.24 S￿ckbrok¢r- dealing a¢couni Stockbrok¢r- Capital A¢counl 8.109 47.403 8.121 31.998 55.512 40.119 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.25 5.4.24 Trad¢ ¢r¢diiors Amounl owed io sec0v￿ary beneficiary Accrued expenses 697 32.225 36 ?8.59? 360 28.95? Page 9 continued... THE WILLIAM MACl4ENZI£TRUST Notts to the FinaMeiAI Ststements- conlinued ffjr ¢h¢ Year End¢d S April 202$ MOVEMEliT IN FUNDS N¢t movement in funds At 5.4.25 At 6.4.24 U•restricted fund5 General fund 1.363.9(Kl 199,304} 1,264,596 TOTAL FUP41 lJ63.9(N) 99.304) 1 764,596 Nd movemenl in funds. included in the atx)ve ar¢ as follows= Incoming resources Resourff5 expended Gains and losses Movement in funds Vnrestricied fund5 General fund 39.16g 151.1301 187.34?) 199.3041 TOTAL FUNDS 39,168 51,1301 873421 99.3041 Comparative5 for rnoveThtnl in fuMd5 movemenl in funds At 5.4.24 Ai 6.4.23 Urtrestricted ftsnds General fund 1.325.297 38.603 1.363,900 TOTAL FUND5 1.325 ?97 38,603 1,363.900 Compara¢ive net movem¢ni in fund& included in ihe alx)ve are as fol￿￿5= Incoming resources Resourtts expended Gains and losses Movenient in funds Unre$tri¢ted G¢n¢ral fuTLd 39.650 151.134) 50.087 38.603 TOTAL FUNDS 39.650 51.1341 50.087 J8.603 Page 10 Coniinued.. THE WILLIAIM MACKENZIE TRUST Notes tts tbe Fin*neial St•leThenls- contiuued for the I'e•r Ended S April 21J25 MOVEMENT IN FUNDS- toniinued A curreni year 12 months and prior year 12 months UMnbin¢d rxTrsition is as follows: Ntl movemenl in funds Ai 5.4.25 Ai 6.4.23 Unrestricted funds General furbd 1.325.297 160.7011 1.264.596 TOTAL FUNDS 1.3?5.297 60.7011 1,264.596 A current year l? n]onihs and prior year 12 rnonih5 combined movcmeni in funds. ir￿l￿ded in the above are as follows: lrtoming Resources expended Gains and losses Movement in funds UNre5tricted fund5 G¢n¢ral fund 78.818 {102.2641 160.7011 TOTAL FUIYDS 78.818 {10?2641 37.255} 60,7011 RELATED PARTY DISCLOSURES John MotTai. Trustee. is al￿ a Director of Mann Judd Gordon Chanered Accountants. Detsils of any fces paid between the Trusl and Mann Judd Gordon are sel out in note 4 10 the ac¢ounis on page 8. Canon Margarei Campb¢ll aNI Th¢ Right Reverend David Railion are both apN>iniees of Si Peiers Episcopal Church in Stomoway. St Pctcts ChuTrh arE p¢rtnilted under ihe Trust Decd to appoinl a Tru￿te to the Trusi and to receive the residue of Ihe annual incorne from ihe Trnsi. Representatives of Si Petets declare Ihw"r inierest * exh m¢ding. Pa8ell THE WILLIAM MACKENZIE TRUST D¢tiiled Stgt¢mfQt of Fingnci41 Activities for the Year Ended 4 April 2025 5.4.25 5.4.?4 INCOIME AND EIYDOWMENTS Ixvestment incorne Divid¢nds received 39.168 39.650 Total incoming reSOu￿e5 39.168 39,650 EXPENDITURE Chiritable 4ctivitie$ Grants lo insiilutions Gratits Lo individuals 32.225 S.636 9.8?? 37.861 38,414 Support costs Governanee costs Bank and investmeAi Charges Admini5tralion Independeni Examiner f¢¢ 11.962 947 360 11.484 876 360 13269 12.720 Toial resources expended 51,130 51,134 Net expendi￿re before g*in5 aud10SSE5 111.96?) 111.4841 Rexlised recognised gains *rtd losses Realised gain&'llossesl on fixed assei investments 5.679 2.82? Nei expendiiure Thi5 page does noi forni part ofihe financial st&terNents Page 12