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 R￿d
Kilmarnock
KA12AN
Soli¢itor¥

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
CONTENTS
TrLksleos report
Indop8nd&nl oxamine¢s report
Stat•m•nt of fin8ntyal •¢t1￿lI&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$tso8 prasènt their annual report and finanoal 51atemenlB for the ye8r ended 10 Nov•mb•r 2Q24.
The flnandJ stst•m&)ts have been prepared In a￿￿rdarKe wrth th? ¥¢counting pcAieies set out Sn note 1 to the
financial slatem￿ts and comply with the the trust's goveming dctum8nt, the CharitSès and Trustee Investment
IS¢otl8nd) Aej 2DOS, the Charities Accounts IScoUandl Regulations 2006. FRS 102 Tr Financial Rewlro
standard applicable in the UK an¢J Republlc ol Ireland. and the Charities SORP 'AcGounting and ReporJng by
CharSties: Stsl¢menl of Recommèndèd Pradica applicable to chariti6s prepaAng their acc￿fits in accordance
with the Fina￿al Reporting Stsndard applicab￿ In the UK and Republic of Ireknd IFRS 1021..
Obhcoves and a￿VItIeS
The trust was e81atAlshed by tru51 deed in 1861.
The principal obio¢ts of thè Ivu$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 cor￿eM lo employees is given through infomiation bullellns and reports wh￿h 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 COr￿rned. 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 perf0m￿nCe
The trU￿eeS have examlned the charws requwtimants for rese￿85 in light of the main risks to the
organlsafjon.
The trustees are aware any drop in investment incorne. would be off sel with a red￿tIOn 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•str￿ted 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 fj￿Urred by the have (le(¥ea8ed from £42,494 10 £42,3￿.
The charity a9regd lo distribuia £26.100 (2023: £29,250) from Income and res9￿e9 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 r￿1 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 acti￿lieS while con8ideralion 15 gNen lo way5 in which additional funds may be raised. This
lovel of r¢$8rve3 has b&8n maintaintd throu￿￿)￿1 the year.
The trust unrestrided lund increased slightly this year and are positive res&N8s and th8 tiusl8es were happy that
this allowed the trusl to cxjntinue ils good work in helping poverty in the KilMnod( area through the parish
ministèrs.
In￿Str￿nt Policy
Tha invèstments are held th a¢cordan(* wlth the tru￿e¢S, F¥)Wtrs.
Th8 invèstment policy which i% reviewed by th8 Irustg9s from timo to limg is aimed al maintaining
the real value of the funds over a period of years and thereby providing a reasonablg lev8[ of inccm8.
The policy of the trustees has been to apply the nel availoble incomg from investments in maknng
fund8 avallable to dl$tsibLrt& lo lo¢al minl$tsrs for L*aritalAe 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 aS￿st in the day lo day tunning ol the trust alono wlth thg support ne￿ork 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 trn￿t 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 a￿rdanCe 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 s88￿ng explanations from Ihe trustees concernin9 any such matters. The
prO￿dureS 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$e to beli8vfj that in any material resF•ct th• reouirèments..
to keep accounting records in a¢cordan<* wtth Section 4411){8) of the Charities and Trustee Investment
{Scotlandl Act 2005 and Rggulation 4 ofthe Charitiès Aeeounts {&olland) Regulat￿n$ 20C6, and
to prepare finana81 stalemènls whith wlh the a¢¢ounling records and cornpty with Regulation 8 of
Ihe Charllles ALKounts (S￿land) 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:
In￿SImentS
44.115
44.115
40.626
40,626
Total income
44.115
44.115
40,626
40.626
Exp•ndlturn on:
Raising fv￿ls
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 galnsllk￿e8) 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 No￿rnber
2023
9,182 1,347,504 1.356.686
11,050 1.317.853 1.328.903
F￿nd 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 reCO￿lSed 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 a5￿ts
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 f*lllng 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
Cap￿al funds
Endowment funds- genoral
In¢omo f￿d•
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 In￿￿OratIOn 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 tr￿1. 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 c*rtaln 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 discret*Jn 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)nd*lon8 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 condit￿nS 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 CC*rhdilions require deferral of the arnounl. Incorne tax re(x)verab
In relation lo donations re￿iVed 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￿ ber￿15 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 underta￿ThJ each 8cIOvity. D1￿ct costs attrfbLrtable lo a slngle
acliwty are allocated directty lo that acttvity. Shar8d eosts whid) ¢onlribute lo rnorg than one a￿1vIty and
gupport costs which aro not attributable lo a single aCt￿lty are apportioned be￿en those adivities on a ba515
nsistent with the use of resources. Central staff ¢o$ls are alh)¢aled on the basis of time spent. and
depreciation char9es are allo¢aled on th& portion of the a559t's use.
1.1 Inve8lThent pro￿rtY
Invesln*Thl property. whith is property held lo eam renlas andlor foi Gapital appreGiatitin, is initially
cognised al cost, which includes the purchase cost and any dire¢tly attributatle expenditure. Subsequen11y
it is measured al fair valu• at tho reporting datè. Tha surplu$ or deffi¢it on rev￿U&ll￿n 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 Fln*n¢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 re￿gnISed 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 5Ub50qUon￿Y carried at amorllsed ¢o$t, u$lng the effeclfve intèrgst rate method.
Trade ¢reditors are obligations to pay for ￿0￿9 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 l*m)Inate thè èmployment of an èmployae or to pro¥Ade tarmInat￿n 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 Car￿Ag #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￿$￿)nS to accountr#J
eslimales are recognised irn the period in whKh the estimate is revised where the revision affects onty that
period, or in the period of the revision and future per￿￿3 where the revision affects both current and fulure
Porltsd$.
Inve¥lments
Unrèstslet
fundg
Totsl
21123
Rertsl in¢fme
Interest Incom&
Diwdend 1ft￿Me
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$18
1,464
4.513
1.910
1,440 Governance
1.909 Governance
1,910 Govemance
4,513
1,910
7,887
7,887
5,259
Anays*d bthoon
Charitabl8 actrvrties
7,887
7.887
5,259
Govemance cosls indudes payments to th8 accountsnts of £1.464 12023-
£1.440} for accountancy fees to prepare the accounts. No fee charged for
the irrflependent examinat￿n.
Ntt mtyv•m•nt in fund•
2024
2023
The movemènt In fund8 1$ $tatod aft¢r ¢h8rglngll¢wdibrKJl'.
Fees payable for the independent ¢xaminats"on ofth• ¢honty$ 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 d￿￿10($) ¢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 InV￿1m*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 e￿denrye 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 Noven*eT 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
Unl￿ted investments
11,972
12.493
Curront ¥s$et inv¢strnent$ 1$ mr*y 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 n￿nths.
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$9 the Unex￿nded balanc*s of donations and gran15 and
investment income which are nol subject to spèriflc ¢(trnditions by donors and grantors as to how they may be
used. These include designoted fund$ 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 in￿me.
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 ir￿lUded 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 End￿ment
1.347,
102.031
1.449.535
Pr•vlous y•ar.'
At11
Novfjmb•r
2022
Galns and
los$
At10
November
2023
Pern￿Thent 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$••ts betw••n fund•
Unr•strl¢t•d Endowm•nt
funds
funds
2024
2024
Total
2024
At 10 November 2024:
Investment properknes
Investments
Current asselsllliabiliti'esl
150,OLN)
1,286,S83
12,952
150,¢XX)
1.286.583
23.886
10.934
10,934
1,449,535
1.480,469
Unr•slrlet•d Endowmont
funds
funds
2123
2023
T*)tsl
2023
At 10 Nov•mb¢r 2023:
Invoslmonl proporbgs
In￿StM￿nIS
CUr￿nt 85$¢t￿lI18bll1lIèsI
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 lrnn*acllon*
There were n¢ dixlosable relal¢d party trgnsact*)ns during the year12023- none).
15-