Charlty regl$tr*lon numb•r SC003989 IS¢otlandl ROYAL INCORPORATION OF THE BUCHANAN BEQUEST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 10 NOVEMBER 2024
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST LEGAL AND ADMINISTRATIVE INFORMATION Trugts•s {Appoint8d 14 D8c8mb8r 20231 Charlty numbor Iscouand) SC003989 Prfn¢lpal adthM¥ EastAyrshirg CouncAI FYwn¢8 & Corporat& Support Counal Headquarters London Road KilmamoGk A3 7BU Independ•nt •xamln•r Smith & Wallace Limited 1 Sirnonsbum Road Kilmamo¢k KA15LA James Gulhrie & Company LLP 3 Portland Rd Kilmarnock KA12AN Soli¢itor¥
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST CONTENTS TrLksleos report Indop8nd&nl oxamine¢s report Stat•m•nt of fin8ntyal •¢t1lI&S 8alan¢e sheet Nole8 to the financial Statements 7-15
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST TRUSTEES REPORT FOR THE YEAR ENDED 10 NOVEMBER 2024 The Tru$tso8 prasènt their annual report and finanoal 51atemenlB for the ye8r ended 10 Nov•mb•r 2Q24. The flnandJ stst•m&)ts have been prepared In ardarKe wrth th? ¥¢counting pcAieies set out Sn note 1 to the financial slatemts and comply with the the trust's goveming dctum8nt, the CharitSès and Trustee Investment IS¢otl8nd) Aej 2DOS, the Charities Accounts IScoUandl Regulations 2006. FRS 102 Tr Financial Rewlro standard applicable in the UK an¢J Republlc ol Ireland. and the Charities SORP 'AcGounting and ReporJng by CharSties: Stsl¢menl of Recommèndèd Pradica applicable to chariti6s prepaAng their accfits in accordance with the Finaal Reporting Stsndard applicab In the UK and Republic of Ireknd IFRS 1021.. Obhcoves and aVItIeS The trust was e81atAlshed by tru51 deed in 1861. The principal obio¢ts of thè Ivu$t are to relwe povety in the Kllmarnock 8iea thiough th• di5tribulion of funds by the parish minislers. There has begn no change lo Ihe printhpal obiecilves durlng the ye¥. Th$ trust 1$ r•¢ognised by H M Revenue and Customs and OSCR as a ¢h8rity LFnder Scottish Chanty Numbèr SC 003989. Th8 charlty plans to continue the acti¥itEs outlined above in the lorth¢onNng years. The Trustegs hove paid due regard to guidance issued by thè Charty Commlsslon In d8cAding what adMlie$ the the trust shoukl undertake. Employèè Pollcy The the Irusvs pollGy Is lo Consult and discuss with employèes. through unions, staff ¢ouncl$ an¢ al meetings, matters likely lo affe¢t ¢mployees' interests. Infomation of matters ol coreM lo employees is given through infomiation bullellns and reports whh seok to achieve a common awaren88$ on the part of all employees of the ffinancial and e¢onomi¢ fa¢tors affecting the trusts performance. Applicatiorts for employment by disabled persons are always fvlly considered. boaring in mind the aplilud¢$ of the applicant COrrned. In Ihe event ol mettthrs of staff becoming disabled, every effort is made lo ensurè that their employment within the the trust continues and that the appropriate training is arranged. It is the policy of the the trust that the training, career devebpment and promotion of disabltrd r$On$ should. a$ far as possible. be Id¢ntical to that of other employoes.
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 10 NOVEMBER 2024 Achl8vgm•nts and perf0mnCe The trUeeS have examlned the charws requwtimants for rese85 in light of the main risks to the organlsafjon. The trustees are aware any drop in investment incorne. would be off sel with a redtIOn in funds distiibuted. Therefore the18vel of unr8strlctsd r8seN8s of£10.934 Is ad8qualg for Iho short and long term fuThJlng Thg tru$l&&$ also anti¢ipalo ihat investment income could be volatile in the ne finanrAal year have rM)ted the ¥ffects of the global factors and the urKertainly il brings lo irNestmenl income. The restricted èndowment fund repr8sents ¢apital originally granted by the benela(lors and growth in the fuTvJs from investments made and realised over the years slice the bewest was founded. In terms of the Original Iwst deed trust¢es are enlrfl&d only to dL8lriLwle in¢omo arlslng from Inveslm¥nts anfj th8 unr•strted fund r•près8nts surplus undlstrknutad income. Flnanclal revlew Tho in¢ome re¢¢ived by the ¢harity has inffta8ed from £40,628 to £44,115. Th9 C>ts fjUrred by the have (le(¥ea8ed from £42,494 10 £42,3. The charity a9regd lo distribuia £26.100 (2023: £29,250) from Income and res9e9 for the year lo 10th Novernber 2024. R•5•r¥gs Policy It 1$ the poli¢y of the the trust Ihat unre$tr4ded funds which have r1 de8rgnated for a specffic u8e 8hould be maintained 8t a lev81 aquivalanl lo b8h¥eèn thr48 and $ix rnnlh'$ oxp¢rtdrtur¢. Th• Trusl&o$ consider that reserves at this lèvel will ènsure that, in the Èvenl of a $ignifi¢ant drop in funding, they will be able to continue th& the trust'5 cuirent actilieS while con8ideralion 15 gNen lo way5 in which additional funds may be raised. This lovel of r¢$8rve3 has b&8n maintaintd throu)1 the year. The trust unrestrided lund increased slightly this year and are positive res&N8s and th8 tiusl8es were happy that this allowed the trusl to cxjntinue ils good work in helping poverty in the KilMnod( area through the parish ministèrs. InStrnt Policy Tha invèstments are held th a¢cordan( wlth the true¢S, F¥)Wtrs. Th8 invèstment policy which i% reviewed by th8 Irustg9s from timo to limg is aimed al maintaining the real value of the funds over a period of years and thereby providing a reasonablg lev8[ of inccm8. The policy of the trustees has been to apply the nel availoble incomg from investments in maknng fund8 avallable to dl$tsibLrt& lo lo¢al minl$tsrs for LaritalAe purp¢)ses. The Trustee5 have asse5seiJ Ihe major risks lo which the the trust is Exposed. and are sa115fied that systems are in place to rniligate 8xposure to the major riskB. Slvucture. govemance and management The the tru51 is an organisation g(>verned by f(5 Iwst document.
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 10 NOVEMBER 2024 The TrJstees iyho sewed diirip the e?r ?nd .J . the dtle of g ntture ef Ihe fingneial ¢tatements were.. The organisational stnjcturg of the trust is that a board of ministers and elacted officials are lasked wih making th8 dgcisions of Iho trust and then aSst in the day lo day tunning ol the trust alono wlth thg support neork of paid GonsulEants, ?OUntants or lawieTS when professional work is re(wirèd. TnJ$tees arg fgcwited from olected officials Board Ministers who a¢t for the churches ofthe lInarn0d( Area
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROYAL INCORPORATION OF THE BUCHANAN BEQUEST I report on Iha finon¢wl stslement$ of the the trnt for the year ended 10 November XJ24. which are Sel out on pages S to 15. Regpedl¥• rnspon$lbllltlg$ of Trusts9¥ and 9xamkn•r Thg the trusys Trusltres are iesw)nsible for the preparab'on of the ffinancial statsrnents in ardanCe with the tem of the Chanties and Tru51ee Investment Iscoljandl Act 2005 and the Chariti¢$ A¢counts ISL¥)Ilandl Regulation$ 20(. The the trust Trustees consider that the audit requiremeril of Regulation 10111181-Ic) of the Charities Accounts (S¢ollandl RegLlatiC¥ 2(106 does not apply. It is my sponSibl11fy to èxamine the financi81 st8lernenls required undeT sectKJn 44(1llc) of the Chaiities aThY Trustee Inve¥lmtrnt (Scotlandl Act 2005 and to slate whether particular matters have CDme to my attention. Ba¥k• of independent examlnerfs statement My examination is Gavri8d out in acc(Kdance with Regulalion 11 of the Charilies AccAiunis (Scouandl Regulalions 2CY)6. An examination indudes a review of the accounting records kept by the charty and a comparison of the financial slatèmènls presented with those records. 11 also inckndes consideration of any unusual items or disdosures In the financial statements. and s88ng explanations from Ihe trustees concernin9 any such matters. The prOdureS undertaken do not piovkle all the eviden thal WOLAd be raqulrad In an audit and consoquendy I do not expre88 an audit opinion on the View given by the financkal statements. Indep•nd•nt •xamin•¢s statem¢nt In Ihe course of my examination, no matter has com& to my attention 1. which gives me reasonable w$e to beli8vfj that in any material resF•ct th• reouirèments.. to keep accounting records in a¢cordan< wtth Section 4411){8) of the Charities and Trustee Investment {Scotlandl Act 2005 and Rggulation 4 ofthe Charitiès Aeeounts {&olland) Regulatn$ 20C6, and to prepare finana81 stalemènls whith wlh the a¢¢ounling records and cornpty with Regulation 8 of Ihe Charllles ALKounts (Sland) Regulations 2006 have not È4an rn81. or 2. to whth. In my oplnoon. attènllon should be drawn in order to enat4e a proper understwdiro of the finanrAal slalernevls to be reaGhed. rnilh ce imite 1 Simonsburn Road Kilmamock KA15LA 13 Mar¢h 2025
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 10 NOVEMBER 2024 Unre$tslcted Endowmènt funds funds 2024 2024 Total Unrestrictsd Endovfflient fund$ funds 2023 2023 T¢tsl 2024 2023 Not•s Income from: InSImentS 44.115 44.115 40.626 40,626 Total income 44.115 44.115 40,626 40.626 Exp•ndlturn on: Raising fvls Charitablg a¢tNitIg8 3.764 38.$99 3,764 38,599 3.$93 38.1 3.593 38,901 Total expenditure 42,363 42.363 42,494 42,494 Net galnsllke8) on investments 10 102,031 102,031 29,651 29,651 N•t Incom• and movom•nt in fund6 1.752 102,031 103.783 11,8681 29,651 27.783 R•¢onGili•tion of funds- Fund balances al 11 Nornber 2023 9,182 1,347,504 1.356.686 11,050 1.317.853 1.328.903 Fnd balan¢•s at 10 Nov•mb•r 2024 10,934 1.449.535 1.460.469 9,182 1.347.504 1.356,686 The slat8ment of finanaal activilios indudes all gains and losses reCOlSed wi the year. Al incA)me and expenditure derive from conlinuing activities.
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST BALANCE SHEEr AS AT 10 NOVEMBER 2024 2024 2023 Note8 Fixed a5ts Inveslrnenl prop8rkn8s Investments 11 12 150,CIIO 1,286,583 1 50.000 1.186.594 1,436.583 1,336.594 Current assets Oeblors Inveslmenlg Cash at bank and in hand 14 15 3.474 11,972 38,660 3.328 12.493 37.641 54.106 53,462 r•dttors: amounts flllng du• w6th1n one year Other ly&0[$ 16 30220 33.370 current assets 23,886 20,092 Total u•ets l•M ¢urrnnt li•biliti 1,460,469 1,356,686 Capal funds Endowment funds- genoral In¢omo fd• Unrestri¢tgd fvnds 18 1,449,535 1,347,504 10,934 9,182 1.460,469 1.356,686 Th¢ I[n¥i•l $tal¢menl$ were •pwovsd by the Truslees on 13 Marth 2025
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 10 NOVEMBER 2024 A¢¢ounting policies Charity inlorniation Royal InOratIOn of th• Buchanan Bequ¢st is a bust wlth • trust deed oudinlng the purposes of the trust. 1.1 Accounting convention The ffinancial 8ts1emenls ha betrn pfypared in 8¢cor¥Jan¢e with th& th• tnJ$fs goveming do¢ument. the Ch•rili&$ and Tru$t•è Inv•$lMènl IS¢otland) A¢t 2005, the Charities Ac¢ounts {Scotland) Regulations 2006, FRS 102 'Th8 Financial Reporting Standard appli(able in the UK and Republic of Ireland" and the Chaiilles SORP "Accounting and Reporting by Charities." Ststemenl of Recommended Prath"ce applicable to Ghawilies prepamg their accounts in accordance with the Financial Rèporting Standard applicable li the UK and Republ of Ireland {FRS 102}". The1he trust is a Public Benefft Entty as defined by FRS 102. The financial slalemenls are prepared in sterfing. which is the funcbonal currency of the the tr1. Monetsry amounts in the$& financial stslomgnls are rcwndgd lo thg neoresl £. Th? fin¢181 8181ernenls have been prepawd uThYer Ihe hlstorKal cost convention, Imodlfied to indude I revalualion of freehold properties and lo incknde Investment propertbes and crtaln financial Instruments 01 foSr Yaluel. The principal accounting polKies adopttrj are $¢1 out b$kJw. 1.2 Golng coThc•m At th& ts.me of approvlng the fin8n(#al 8talements, the Tw8tges h8vo a re880nable •xpgCtOtion that lh¢ th9 trust has adequate resources to Continue in È)perational exlsl&nce for the foreseeable future and no material uncertainties exist regrading thi5. Thu5 the Trustees continue lo adopt the going concern basis of aGGuuntirvJ in preparing the financial slalemènts. 1.3 Charitabh fvnd¥ Unr&strict&d funds arg availabl& for use at the discretJn of the Trustees in furtherance of their charitable obje¢live$. Restrictgd funds are subject to specific conditicins by donors OT grantors as to how they rnay ug•d. T purpose$ and usgs ofthe restricled funds are sel oul in the rnle¥ to the fnancial stslemerts. Endowrllent fvnds are SUWOLX to LX)ndlon8 by donors that the i¥pMg1 must be malntalned by the Ihe Irusl. 1A Incomè Income is recognised when Ihe the trust is legalty entitled to it after any perfomiance conditnS have been met, th8 amounts Can be measured reliably. and it is probable that incom& wll be recarved. CaBh donation6 are roc4Jgni8od on roc01 Other donations #re r6cognised unce the tho trust has be¢n notified of the donation, unless perfomiance CCrhdilions require deferral of the arnounl. Incorne tax re(x)verab In relation lo donations reiVed under Gift or deed5 of covenant is recognised at the lime of the donation. Legacie5 are recognised on receipl or otherwise rf the the ITUSI ha5 been notified of YnpeTKling l$tribUtion, the amounl is known, and receipt is expected. If the amount is not known, the legacy 13 treatsd a8 8 contingent asset.
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 10 NOVEMBER 2024 Accountlng poll¢les Icontlnugd) 1.6 Exp•ndKur• Expenditure is recxwnis8d once the is 8 legal or nstrUctive oblgalion to transfer ecAMomic benefrt to third party. 51 is probable that a transfer of econom ber15 wll be required in setuement. and the amount of the obligadcA) can be measured reliably. Expenditure is classified by achvrly. The costs of each activity are mBdè up of Ihe totsl of di( ¢osl$ and shared costs, induding 5UPPOrt Gosts involygd in undertaThJ each 8cIOvity. D1ct costs attrfbLrtable lo a slngle acliwty are allocated directty lo that acttvity. Shar8d eosts whid) ¢onlribute lo rnorg than one a1vIty and gupport costs which aro not attributable lo a single aCtlty are apportioned been those adivities on a ba515 nsistent with the use of resources. Central staff ¢o$ls are alh)¢aled on the basis of time spent. and depreciation char9es are allo¢aled on th& portion of the a559t's use. 1.1 Inve8lThent prortY InveslnThl property. whith is property held lo eam renlas andlor foi Gapital appreGiatitin, is initially cognised al cost, which includes the purchase cost and any dire¢tly attributatle expenditure. Subsequen11y it is measured al fair valu• at tho reporting datè. Tha surplu$ or deffi¢it on revU&lln 1$ rocLwJnis¢d in profil or loss. Property rente(I lo a group enlty Is ac¢ounted for as langlblè frAed as8è18. 1.7 Fixed asset investments Fixed asset inve8lmenls are initially measured at transaction price exduding tron$aclion wst$, and are 8uI)sequenlly measured al f8ir value at each reporting dote. Changes in tsir v¥lu¢ are woyni$ed in nel Incomel(expenditure) for the year. Transacllon rnsls are gxpen5e(l as incurred. 1.8 Cash and cash equlvalents Cash and cash equivalents Indude cash in hand. deposits hekl at call with banks, other short-terrn liquid investm&nl$ wilh Origin81 m8turiliès of Ihreè months or less, and nk overdrafts. Ba overdrafts are Shown within borrowings in ¢wront liabi1it1os. 1.9 Flnn¢lal Instrumgnts Thg the trust has de¢ted to apply the KYoMsion$ of Section 11 'Ba8ic Financial In$truments' ond Seclion 12 'other Fbnancld Instruments Issues. of FRS 102 to all of ils financial instrum8nts. Financaal instruments are regnISed in the the tru¥l¥ balan $et when Iho th¥ tN$l become$ party lo the ¢ontrathial provisions of thg instrum&nt. Finanaal a55ets and liabilities are offsel. the net amounts PTèSellted in the financial ststsments, when there 15 a legally enforceable right lo set off the r¢¢ogni$¢d am¥unts 8nd there is an intention to settle on a net basis orto realiso the a5S9t and $etde the liabllity simultaneou. Basic finanel•l •ss•ts Basic hancial assets. which include debtors and cash and bank bal•nces. are initially measured gt Iransacbon price induding Iransaction costs and are subsequelltly cawried al amorti5ed wsl using the effedve interest method unless the arrangement ¢onsts'lutes a financang transaction. where the transaction is m82sured at Ihe prèsent valu• of tha tulure receipts discounted at a market rale of interest. Financial assets dassthed as receivable within one year are not amorttsed.
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 10 NOVEMBER 2024 Accounting poki•¥ (Continu•dl Basic ffnancialliabililies Basic finan¢ial liabilrti¢$, Indvding ¢ItorS and bank loans are initialty recognised at transaction price unl&s8 the arTangerngnt (x)nstitut$8 a financing Ir¥n$action, wh•r9 thè dobl instrument is measured at the PTesènt value of the ftrtU payments dis¢ounled 01 a market rate of interest. Financial liatN'liti8s classified as payable within one year are not amorti3ed. Dgbt instrumonts aro 5Ub50qUonY carried at amorllsed ¢o$t, u$lng the effeclfve intèrgst rate method. Trade ¢reditors are obligations to pay for 09 or services that have been 8¢quired in the ordinary ¢ours9 of operations from suppliers. Amounts payable are classrfied as current liabilities rf paymtrnl is du8 within o yèar or less. If not. they are presented as nonthCLrrenl liabilities. Trade creditor5 are recogniwd initialty at Iransactljn prlc& and subsequendy measured at amortised cost using the effeclive intsrest method. Derncognmon of flnan¢lalllabilldes Flnandal liabifillg$ are derecognised when the the trust's contractual ob1gatio expire 01 a discharge(l or rancelL•d. 1.10 Employee bonefits The ¢ost of any unused holiday enlillemenl is recognised in the period in vthith the employee'$ 8ervk•$ or9 receivèd. Terwninalion benofflls aro re¢ognSsod knm¢dialety a$ an expense when the the trust is demonstrably committe(I lo lm)Inate thè èmployment of an èmployae or to pro¥Ade tarmInatn beneffts. Crhl¢l ac¢ountlng e8tlmatss and judgemènts In the app¢ication of the the twsvs accountin9 ptsIiciè8, the TnJ8to¢$ ar¢ roquirod lo mak8 judgemonts. estimates and assumptions about the CarAg #mouni of assels and liabilities that arè nrtit readily apparent from oth8r sources. The estimates and associated assurnptions are based on historical eyperIen and other fa¢tors that are considered to be relevant. Actual results may differ from these estimate8. The èstimat8s and uThlert'ng assumption5 are r8vi8w8d cffl an ongoing bg%s. Re$)nS to accountr#J eslimales are recognised irn the period in whKh the estimate is revised where the revision affects onty that period, or in the period of the revision and future per3 where the revision affects both current and fulure Porltsd$. Inve¥lments Unrèstslet fundg Totsl 21123 Rertsl in¢fme Interest Incom& Diwdend 1ftMe 3.800 17,867 15.703 21.523 44.115 40.626 44.115 40.626
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 10 NOVEMBER 2024 Ralslng fund5 Unrtstrictsd lund* Total 2023 3.764 3.593 3.764 3,593 Inve81menl management 3,704 3,593 Expendilure on charftable actlvStle8 UTrrestrScted Unrestrlcted Distribution Di$tributio 2024 2023 Dlrect ¢osts Insurance Dc•nalKJns Distributions wta ministe Annual luncheon Curfrng stones Yèllow vests 3,867 10 26,100 679 41 15 3,640 10 29.250 742 30,712 33,642 Share of 8UPPOrt ond governam¢e ¢o•ts (••• nol• 6) Govemance 7.887 5,259 38,599 38,901 Anatys16 by fund Unr061ricted funds 3B,$99 38,901 10-
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 10 NOVEMBER 2024 Support co•t• Support Gov•m4n¢• ¢osts 2024 2023 8asl8 of allo¢•tion Accountar Legal and profe55H)nal Staff Co$18 1,464 4.513 1.910 1,440 Governance 1.909 Governance 1,910 Govemance 4,513 1,910 7,887 7,887 5,259 Anays*d bthoon Charitabl8 actrvrties 7,887 7.887 5,259 Govemance cosls indudes payments to th8 accountsnts of £1.464 12023- £1.440} for accountancy fees to prepare the accounts. No fee charged for the irrflependent examinatn. Ntt mtyv•m•nt in fund• 2024 2023 The movemènt In fund8 1$ $tatod aft¢r ¢h8rglngll¢wdibrKJl'. Fees payable for the independent ¢xaminats"on ofth• ¢honty$ finonci81 statements None of the Trustees lor ary persons conne¢aed 7Mth them) re¢elved any reMUnerafj or beneffts from the the trust during the year. Emphyee• The average rnonlhty number of person¥ fincluding d10($) ¢mploy•d by the eonyany duriro the year was.. 2024 Number 2023 Numbor There re no gmpbyees who¥e annual remunerath)n wa8 more than £60,000. 11
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 10 NOVEMBER 2024 10 Galn¥ and losstt on Investments Endowm•nt Endovmwnl fur¢d• lunds 2024 2023 Gain511kn68esl ari5iThJ on: Revaluation of investments Sale of inveslmenls 101.851 180 29.569 82 102.031 29,651 11 InV1m*nt prop•rty 2024 Fair value At 11 Novembar 2023 and 10 Ntsvemter 2024 150,000 Invtstmernl property comprises a fami that is rented out valued al £150.000. The fair value of the investmenl property has been aThived at on thè basis of a vglugtion ¢arrigd out in June 2020 by CKD Galbraith Chartered Surveyors, who aro not connected wrth the the trust. The vakjalion wa¥ made on an open market valua basiy by referen to market edenrye of Iransathon prlces ftr similar properties. Z024 2023 Fre¢fw)Id 150.OLK) 150,000 12 Fix•d tset investments Llsted Inv•stmènts Co$t orv•lu¥tion Al 11 Novembar 2023 ValualKJn changos D5$ptssals 1.186,$94 102,030 12,041} At 10 November 2024 1,286.583 Carrykng amounl At 10 November 2024 1,286.583 At 10 November 2023 1,186,594 12-
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 10 NOVEAIBER 2024 12 Flx•d a¥s•t Invvtm•ttt8 (Continuodl The listed Inveslmonts arg 911 held wth Bardays Charity FuTrJ wilh a market value al the 10th NoveneT 2024 £1,288,583. The original costs ofthe investments in thos fund was £871,387 13 Financial instruments 2024 2023 Carylng amount of flnanclal assets Instruments measured 81 fair v8lue through profit or loss 11.972 12.493 14 D•btor¥ 2024 2023 Amouftt8 falling due within one y•ar. Prppaymgnts and a¢c¥uod in¢ome 3,474 3,328 16 Curr•nta8S•t Inv••lm•ntB XJ24 2023 Unlted investments 11,972 12.493 Curront ¥s$et inv¢strnent$ 1$ mry that is $lttlng In thè Bardays weahh dealing or trading accc*Jnt ihal is under the Buchanan Bequest name bLrt has not been tr8nsfwred from Barclays lo the trust bank aGc¥Jurrt at the year end. This has been shown as bank balances previously bul feel that as nol held in thè twst bank and with Barclays weallh the trustees would show this as funds still invested. wth the intention of belng transferred lo the Iwst bank account wfthin 12 nnths. 16 ¢)th•r ¢r•dltovs falllng du• wlthln •n• y••r 2024 2023 AcLruals and deferr•d income 30220 33.370 13-
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR fHE YEAR ENDED to NOVEMBER 2024 17 Unr•strleted funds The unrestrthd fund5 of the charity compri$9 the Unexnded balancs of donations and gran15 and investment income which are nol subject to spèriflc ¢(trnditions by donors and grantors as to how they may be used. These include designoted fund$ whith have been 8el a8ide out ol unreslricled fiJnd5 by the trustees for specific PUTPOSeS. At11 Novemb•r 2023 IncomSng rnsour¢ R•sourc•8 xp•nded Atio Ilovember 2024 Genèral fvnds 9,182 44,115 142,3631 10.934 Previou¥ year. Atll Novomber 21122 In¢omkng Re¥ource• vesources expended Atlo 14ovember 2023 General fvnds 11.09) 40,626 (42,494) 9,182 Unr•strlctsd Fund Tha unrastrictod fund rop$•nts a surplus of undistributed inme. 18 Endowmentfvnds Endowment funds Tepres&nt assats whith must bè held permanently by the the trusl. Income arising on the endowment funds Gan be used in accordance wrth the objects of the the Intsl and is irlUded as unrestricted income.Any capital gains or lo$$e$ ahsing on the assèts form part of the fu. At11 Mov•mb•r 2023 Gain¥ and IOM At10 Nov•mb¢r 2024 P•m¥nont &ndowments Pernanent Endment 1.347, 102.031 1.449.535 Pr•vlous y•ar.' At11 Novfjmb•r 2022 Galns and los$ At10 November 2023 PernThent endowments Pemianenl Endowrnent 1,317.853 29,651 1.347,504 14-
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 10 NOVEAIBER 2024 19 Analysi$ of n•t a$••ts betw••n fund• Unr•strl¢t•d Endowm•nt funds funds 2024 2024 Total 2024 At 10 November 2024: Investment properknes Investments Current asselsllliabiliti'esl 150,OLN) 1,286,S83 12,952 150,¢XX) 1.286.583 23.886 10.934 10,934 1,449,535 1.480,469 Unr•slrlet•d Endowmont funds funds 2123 2023 T)tsl 2023 At 10 Nov•mb¢r 2023: Invoslmonl proporbgs InStMnIS CUrnt 85$¢tlI18bll1lIèsI 150,000 1.186,594 10,910 150,OCM) 1.186.594 20.092 9.182 9.182 1,347,504 1.356,686 20 R•lat•d paty lrnnacllon There were n¢ dixlosable relal¢d party trgnsact)ns during the year12023- none). 15-