REGISTERED CHARITY NUMBER: §C002595
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5th April 2025
for
The Nairn Charitable Trust
.
The Nairn Charitable Trust
Contents of the Financial Statements for the Year Ended 5th April 2025
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities Balance Sheet
Notes to the Financial Statements Detailed Statement of Financial Activities
Page 1 to 2 3 4 5 6 to 9 10
forReportthe Yearof theEndedTrustees Sth April 2025
The trustees present their report with the financial statements of the charity for the year ended Sth April 2024. The trustees have adopted the provisions of 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)][(effective][|][January][2019).]
OBJECTIVES AND ACTIVITIES
Objectives and aims The residue of the estates of the three ladies became available to the trustees on the death of Miss Margaret McKay Nairn. They were directed to divide the income of the residue among a number of specified charities, in such proportions as the trustees would consider appropriate, with power to the trustees to add to the number of charities benefited if they considered this advisable. The trustees have increased the number of charities who benefit from the distribution of Revenue. The charities specified in the Trust Dispositions and Settlements are:1. Erskine Hospital 2. The Scottish National Institution for the War Blinded 3. Quarrier's Homes 4. The Church of Scotland for the benefit of theirEventide Homes 5. British Empire Cancer Campaign 6. East Park Home for Infirm Children
| The British Empire Cancer Campaign was absorbed into | Cancer Research Campaign (Scotland) and in turn that has | Cancer Research Campaign (Scotland) and in turn that has |
|---|---|---|
been amalgamated with another Cancer Charity and is now Cancer Research UK. |
The range of grants made by the | |
trustees in the year to 5 April 2025 is as disclosed in the |
accounts. The Trustees will continue to administer both the | |
| income and expenditure ofthe Trust in accordance with their current practice. | ||
| Donations | ||
The range ofdonations made by the trustees in the year to |
5 April 2025 are as disclosed below. The trustees anticipate a |
|
| continuation ofdonations along the same lines in future. | ||
| Donations | > | |
| Erskine Hospital | 750.00 | |
| Sight Scotland Veterans | 750.00 | |
| Quarriers | 750.00 | |
| Crossreach | 750.00 | |
| Cancer Research UK | 750.00 | |
| East Park Home | 750.00 | |
| Young Lives Vs Cancer | 750.00 | |
| Asthma and Lung UK | 400.00 | |
| Chest, Heart and Stroke Scotland | 500.00 | |
| Scottish Association for Mental Health | 400.00 | |
| Cystic Fibrosis Trust | 400.00 | |
| RNID | 400.00 | |
| Multiple Sclerosis Society Scotland | 400.00 | |
| MND Scotland | 600.00 | |
| CrohnsandColitisUK | 500.00 |
FUTURE PLANS
The income of the Trust is composed of dividends, interest, etc collected on the Investment Portfolio and on the Trust bank account. It is anticipated that future income will remain fairly constant from year to year depending on the performance of the Investment Portfolio. This is kept under review by Rathbone Investment Management. Regular reports are provided by them and these are duly considered by the trustees. Page |
The Nairn Charitable Trust
Report of the Trustees for the Year Ended Sth April 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document The Nairn Trust established in implement of the Testamentary Trust Dispositions and Settlements granted by three sisters - Miss Elizabeth Gilmour Nairn, Miss Mary Miller Nairn and Miss Margaret McKay Naim. These documents were all signed on 14 March 1956. They appointed the same Trustees, had the same residuary provisions and are what is known as "mirror Wills". Each Will provided for a liferent to the surviving sister or sisters and sundry legacies were provided for in each of the Wills. Miss Elizabeth Gilmour Nairn died in 1962, Miss Mary Miller Nairn in 1968 and Miss Margaret McKay Nairn in 1975. In accordance with recommendations by the Office of the Scottish Charity Regulator the trustees agreed to include the word Charitable in the Trust name in May 2008.
The Trustees who served during the year and the administrative address are listed below.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number SC002595
Principal address
| Howard Street Kilmarnock KAI 2BW
Trustees
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Examiner
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Solicitors
Carruthers Curdie Sturrock & Co, | Howard Street, Kilmarnock.
Stockbrokers
Rathbone Investment management, George House 50 George Square Glasgow
Approved by order of the board of trustees on 17" July 2025 and signed on its behalf by:
Page 2
Independent Examiner's Report to the Trustees of The Nairn Charitable Trust
| report on the accounts for the year ended 5th April 2025 set out on pages four to nine
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention
Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 accounts Independent examiner's statement In connection with my examination, no matter has come to my attention (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and - to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
17" July 2025
Page 3
The Nairn Charitable Trust
| Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 5th April 2025 | |||
| 2025 | 2024 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | a | |
| INCOME AND ENDOWMENTS FROM | |||
| Other income | 29,689 | 14,871 | |
| EXPENDITURE ON | |||
| Raising funds | 2 | 2,979 | 2,943 |
| Other | 8,850 | 9,500 | |
| Total | 11,829 | 12,443 | |
| NET INCOME/(EXPENDITURE) | 17,860 | 2,428 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 452,757 | 450,329 | |
| TOTALFUNDSCARRIEDFORWARD | 470,617 | 452,757 |
| |
The notes form part of these financial statements Page 4
. The Nairn Charitable Trust
| Balance Sheet | |||
|---|---|---|---|
| 5th April 2025 | |||
| 2025 | 2024 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Investments Cash at bank |
5 6 |
443,012 28,385 |
— 422.0 74 31,463 |
| 471,397 | 453,537 | ||
| CREDITORS | |||
| Amounts falling due within one year | 7 | (780) | (780) |
| NET CURRENT ASSETS | 470,617 | 452,757 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 470,617 | 452,757 | |
| NET ASSETS | 470,617 | 452,757 | |
| FUNDS | 8 | ||
| Unrestricted funds | 470,617 | 452,757 | |
| TOTALFUNDS | 470,617 | 452,757 |
The financial statements were approved by the Board of Trustees and authorised for issue on 17" July 2025 and were signed on its behalf by:
The notes form part of these financial statements
Page 5
:
The Nairn Charitable Trust
Notes to the Financial Statements for the Year Ended 5th April 2025
- ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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) (effective 1 January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention.
Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
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 cost 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. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
| Restricted funds can only be used for particular |
restricted purposes within | the objects of the | the objects of the | charity. | |
|---|---|---|---|---|---|
| Restrictions arise when specified by the donor or when | funds are raised for particular restricted purposes. | ||||
| Further explanation ofthe nature and purpose ofeach fund is included in the notes to the financial statements. | |||||
| 2. | RAISING FUNDS | ||||
| Raising donations and legacies | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Support costs | 2,979 | 2,943 | |||
| 3. | TRUSTEES' REMUNERATION AND BENEFITS | ||||
| There were no trustees' remuneration or other benefits | for the year ended Sth April 2025 nor for | the year ended | |||
| Sth April 2024. | |||||
| Trustees'expenses |
There were no trustees' expenses paid for the year ended Sth April 2025 nor for the year ended Sth April 2024. Page 6 continued...
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| The Nairn Charitable Trust |
The Nairn Charitable Trust |
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|---|---|---|---|
| Notes to the Financial Statements - continued for the Year Ended 5th April 2025 |
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| 4. | COMPARATIVESFORTHESTATEMENTOFFINANCIALACTIVITIES | ||
| Unrestricted | |||
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Other income | 14,87] | ||
| EXPENDITURE ON | |||
| Raising funds | 2,943 | ||
| Other | 9,500 | ||
| Total | 12,443 | ||
| NET INCOME | 2,428 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 450,329 | ||
| TOTAL FUNDS CARRIED FORWARD | 452,757 | ||
| 5. | CURRENT ASSET INVESTMENTS | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Listed investments | 443,012 | 422,074 | |
| Current asset investments are stated at cost. Market value at Sth April 2025 was £491,587 (2024 | £515,294) | ||
| 6. | CASH AT BANK | ||
| 2025 | 2024 | ||
| Total | Total | ||
| funds | funds | ||
| £ | £ | ||
| Bank ofScotland account | 19,497 | 21,164 | |
| Stockbroker's Account | 2,234 | 2,367 | |
| Capital Account | 6,654 | 7,932 | |
| Total | 28,385 | 31,463 |
Page 7
continued...
| Notes to the Financial Statements - continued for the Year Ended 5th April 2025 |
Notes to the Financial Statements - continued for the Year Ended 5th April 2025 |
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|---|---|---|---|---|---|
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2025 | 2024 | ||||
| ra | £ | ||||
| Other creditors | __780 | __780 | |||
| 780 | 780 | ||||
| 8. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At | 6.4.24 | in funds | 5.4.25 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 452,757 | 17,860 | 470,617 | ||
| TOTAL FUNDS | 452,757 | 17,860 | 470,617 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 29,689 | (11,829) | 17,860 | ||
| TOTAL FUNDS | 29,689 | (11,829) | 17,860 | ||
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | At | ||||
| At | 6.4.23 | in funds | §.4.24 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 450,329 | 2,428 | 452,757 | ||
| TOTAL FUNDS | 450,329 | 2,428 | 452,757 | ||
| Comparative net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 14,871 | (12,443) | 2,428 | ||
| TOTAL FUNDS | 14,871 | (12,443) | 2,428 | ||
| Page8 | continued... |
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Page 8
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The Nairn Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2025
- MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows:
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 6.4.23 | in funds | $.4.25 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 450,329 | 20,288 | 470,617 | |
| TOTAL FUNDS | 450,329 | 20,288 | 470,617 | |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are |
||||
| as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 44,560 | (24,272) | 20,288 | |
| TOTAL FUNDS | 44,560 | (24,272) | 20,288 | |
| 9. | RELATEDPARTYDISCLOSURES |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
There were no related party transactions for the year ended Sth April 2025.
Page 9
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The Nairn Charitable Trust
| Detailed Statement of Financial Activities for the Year Ended 5th April 2025 |
2025 | 2024 |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other income | ||
| Investment Income | 12,720 | : 13,495 |
| Bank Interest | 309 | 287 |
| Gain on sale ofInvestments | 16,660 | 1,089 |
| 29,689 | 14,871 | |
| Total incoming resources | 29,689 | 14,871 |
| EXPENDITURE | ||
| Other | ||
| Donations | 8,850 | 9,500 |
| Support costs | ||
| Governance costs | ||
| Independent examiner's fee | 864 | 828 |
| Administration Expenses | 2,115 | 2,115 |
| Loss on sale of Investments | - | . |
| 2,979 | 2,943 | |
| Total resources expended | 11,829 | 12,443 |
| Net(expenditure)/income | 17,860 | 2,428 |
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