Charity reylstration numbor SC003989 (Scotlandl
ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 10 NOVEMBER 2025

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Cllr C Mailland
Cllr D Reid
Rev D Cameron
Rev F Maxwell
Cllr J Todd
Cllr J Adams
Cllr D Ri¢h8rdson
Cllr P Mabon
Cllr B Douglas
{Appoinled 14 December
20231
Charlty number Iscotlandl
SC003989
Prlneipal address
East Ayrshire Counal
Finan￿ & Corpor81e Support
Council Headquarters
London Road
Kilmarno¢k
KA3 7BU
Indèpondent examln•r
Bryan Swan CA
Rogerson & Goldie
29 Porlland Road
Kilmarnock
KA12BY
Solicltors
James Guthrie & Company LLP
3 Portland Road
Kilmarnock
KA12AN

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
CONTENTS
Page
Trustees report
Independent examinerfs report
Slatemenl of financ￿1 aclivilles
Balance sheel
Notes lo the financial $18temenls
7-15

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
TRUSTEES REPORT
FOR THE YEAR ENDED 10 NOVEMBER 2025
The Trustees present their annual report and financial slalements for the year ended 10 November 2025.
The financial $13lernents have been prepared in accordance with the accounting ptsliries set out in note 110 the
financial 51alemenls and comply with the th& Irusl's governing document. the Charities and Trvslee Investm8nl
Iscotlandl Act 2005. the Charities Accounts Iscollandl Reglllalions 2006, FRS 102 "The Fln8ncial Reporting
Standard applicable in the UK and Republic ol Ireland and the Charities SORP "Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in aceordanoe with
the Finan¢ial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021"
ObJ*¢tives and a¢tivities
The trust was established by trust deed in 1861.
The principal objects of the trust are lo rèlieve poverty in the Kilmarno¢k area Ihrou9h the distribution of funds by
the parish ministers.
There has been no changè lo the principal objectives during the year.
The IrLJsI is recognised by H M Rèvenue and Customs and OSCR as a charity undei Scottish Charity Number SC
003989.
The charity plan5 to continue the activities outlined atrx)vg in the forthcoming years.
The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding wh818clwilies Ihe
the trust should undertake.
Employee Poli
The the Irusl's policy is lo consult and discuss with ernploye&s, through unions, staff councils and at meetings,
mallers likely lo affect 8mployees' inleresls.
Information ol matters of conTrrn to employees is given through information bulletins and reports which seek lo
achieve a common awareness on the part of all employees of Ihe financial and economic factors affeeling the
trusts performance.
Applications for employment by disabled persons are always fully considered, bearing In mind the aptitudes of the
applicant Con￿rrned. In the event ol members of staff becoming disabled, evèry effort is made to ensuie that their
employment within the the trust continue5 and that the appropriate training is arranged. 11 is the policy of the the
trust that the training, career development and prornolion of disabled persons should. as far as possible. be
identical lo that ol other employees.

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 10 NOVEMBER 2025
A¢hlgv•ments and performance
The trustees have examined the charity's requirements lor reserves in light of the main risks lo the organisalion.
The trustees arè aware any drop in investment income, would be off sel with a reduclion in fund5 distributed.
Therefore the lev81 of unreslriclad reserves of £10,877 is adequate for the short and long term funding
The Iruslees slso anlicipale that investment income could be volatile in the next financial year and have noted th8
effects of the global factols and the uncertainty Il brings lo investment in¢ome.
The reslriclèd endowment fund iepresents capital originally granted by the benefactors and growth in the funds
from investments made and realised over the years since the bequest was fOu[￿ed.
In lerms of the original trust deed Iruslees ai& entitled only lo distribute income arising from Investments and the
unrestricted fund represents surplus undistribuled in¢ome.
Financial revlèw
The income recewed by the charity has increased from £44,115 to £45,669.
The Costs incurred by the charity have incraased Irom £42,363 to £45.756.
The charity agreed lo dislribute £29,10012024.. £26,100) from incomè and reserves for the year lo 10th November
2025.
Re5eNes Policy
11 is the policy ol the the trust that unreslri¢ted funds whi¢h have not bèèn designated for a specific use should be
maintained at a level equivalent lo belwe8n three and six month's expenditure. The Trustèes considerlhat reserves
at this level will ensurè Ihal, in the event of a significant drop in ILJnding. they will be able to continue the the trust's
currenl activities while consideration is given toways in which additional funds may be raised. This level ol reserves
has been maintained throughout the yaar.
The trust unrestricted fund increased slightly this year and arè positive reserves and the Ifuslees were happy that
this allowed the trust to continue ils good work in helping poverty in the Kilmarnock area through the parish
ministers.
Inveslment Policy
The investments arè held in awjrdance with the Iruslees. powers.
The investment policy which is reviewéd by Ihe Irusleès from lirne lo lime is aimed 81 maintaining
the real value ol Ihe funds over a period of years 8nd thereby pioviding a reasonable level ol income.
Thè policy of tho Iruslees has been lo apply the nel available income from investments in making
lund5 available lo distribute to local ministers for charitable purposes.
The Trustee5 have assessed the major risks to which the the Irusl is trxposed. and are s8lisfI6d that systems are
in place to rniligate exposure lo the major risks.
Structure, governanco and management
Tha the trust is an organisalion 9overned by its trust documenl.

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 10 NOVEMBER 2025
The Trustees who served during the year and up lo the dalè of signalure of the financial statements were..
Cllr C Mailland
Cllr D Reid
Cllr L Jones
Rev D Cameron
Rev J McNaughlan
Rev F Maxw811
Cllr J Todd
Cllr J Adams
Cllr D Richardson
Cllr P M8bon
Cllr B Douglas
(Resigned 14 December 20231
(Resigned 31 January 20251
(Appointed 14 December 20231
The organisalional structure of the trust is that a board ol minister$ and elected offi¢i8ls are tasked with making
the decisions ol the trust and then assi51 in the day tts day running of the trust along with thè support nelwork of
paid consultants. a¢counlanls or lawyer5 when professiollal work is required.
Trustees are recruited from elected officials and Board Ministers who act for the churches of the lfjlmarnock
Area.
Cllr D Reid
Trustee
Dated.. 9 June 2026
Rev D Camaron
Truslee
Dalèd..9 June 2028

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
I report on the finanaal stalemenls of the the Irusl for the yèar ended 10 November 2025, which are set out on p8g9S
51015.
Respe¢tSve responslbilities of Trustees and èxaminer
The Ihe Irusl's Trustees ale responsible lor Ihe preparation of the financ4al slalemenls in accordance with the terms
ol the Charities and Trustee Investment IS¢ollandl Act 2005 and the Chaiilies Accounts (Scollandl Regulations 2006.
The the Irusl Tiuslees consider that the audit requirement of Regulation 1011 Ilal-l¢l ol Ihe Charities Accounts
IS¢otlandl Regulations 2006 does nol apply.
It is rny responsibility 10 9xamine the financial slalemenis as required under section 4411llcl of the Charilies and
Truslee Investment (Scotlandl Act 2005 and Io Stsle whether particular malters have come to my allenlion.
Basis of Ind•pendent examiner's stst•ment
My examinaiion is carried out in accordance with Regulation 11 of the Chaiilies Accounts (Scollandl Regulations
2006. An exarnination includes a review olthe accounling records kepl by Ihe charity and a comparison of the financial
statements presented with those records. It also Inoludes consider81ion of any unusual items or disclosuies in the
flnancial slalèmenls, and seeking explanations trorn the trustees concerning any such mallèrs. The procedures
undertaken do not provide all the evidence that would be requirad in an audit and ¢onsequenlty I do not express an
audit opinion on the view given by the financial statements.
Independent examinerfs statèment
In the course of my examination, no matter has come to my attention
1. which gives me reasonable cause lo believe that in any material resped the requirernenls..
to keep ac¢ounting records in accordance with Se¢lion 4411llal ol the Charities and Trustee Investment
(Scotlandl Act 2005 and RegLJlation 4 01 the Charities Accounts Iscotlandl Rogulalions 2006, and
lo prepare financial stalemenls which accord with the accounting records and comply with Regulallon 8 of
the Gharities Accounts (Scotlandl Règulations 2006
have nol been rnel. or
2. to which. in my opinion, attention should be drawn in order lo enabl8 8 proper understanding of the financial
slalements to be reached.
Swan GA
Rogerson & Goldie
29 Portland Road
Kilmarnock
KA12BY
9 June 2026

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED qo NOVEMBER 2025
UnrestdctedEndowment
funds
lund•
202S
2025
Total Unrestricted Endowm•nt
funds
funds
2024
2024
Total
2025
2024
Notes
Income from:
Investments
45,699
45.699
44,115
44,115
Totsl Income
45,699
45,699
44,115
44,115
Expènditure on..
Raising funds
Charitable activities
3,902
41,854
3,902
41,854
3,764
38,599
3,764
38.599
Total expèndltu
45,756
45.756
42,363
42.363
Nel gainslllossesl on
investments
10
120,079
120,079
102.031
102,031
Net In¢ome and mov•m•nt in
funds
1571
120.079
120.022
1,752
102,031
103.783
Reconciliatlon of funds:
Fund balances al 11 November
2024
10.934 1,449.535 1.460,469
9,182 1,347.504 1,356,686
Fund balan¢•$ at 10
November 2025
10,877 1,569,614 1,580.491
10,934 1,449,535 1.460,469
Thè slalemenl of financial aclivitles includes all gains and losses recognised in the year. All income and expenditure
derive from continuing aclivilies.

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
BALANCE SHEET
AS AT 10 NOVEMBER 2025
2025
2024
Not¥s
Flx•d assets
Investrnenl properties
Investments
150,000
1.402,908
150.000
1,286.583
12
1,552,908
1,436,583
Current ass¢ts
Debtors
Investments
Cash al bank and in hand
14
15
2,152
10,690
48,538
3,474
11,972
38,660
61,380
54,106
Creditors: amounts falllng duo within
one yoar
Other creditors
16
33,797
30,220
Nel current assets
27,583
23,886
Total a$$&ts less curr•nt liabilitie
1,580.491
1,460,469
Capitsl funds
Endowment funds- general
Incomè funds
Unrestricted funds
18
10,877
10,934
1,569,614
1,449,535
1.580,491
1.460,469
The financial stalaments were approved by the Trustees on 9 June 2026
Cllr D Reid
Trustee
Rev D C8m8ron
tee

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 10 NOVEMBER 2025
Accounting policies
Charlty infomiation
Royal Incorporatlon of the 8uchanan Bequest is a trust with a trust deed outlining the purposes ol the trust.
1.1 Accounting convention
The financial slalemenls have been prepared in a¢¢oidance with the the trust's governing document, the
Charities and Trustee Investment IS¢ollandl Act 2005, Ihe Charities Acoounls Iscollandl Regulations 2008,
FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol Ireland" and the Charities
SORP "Accounting and Reporting by Charities." Slatèmenl of Recommended Pracliee applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rèpublic
of Ireland IFRS 102}" The the trust is a Public Benefit Entity as defined by FRS 102.
The financial slalemenls ale prepared in sterling, whi¢h is the functional currency of the the Iiusl. Monetary
amounts in these financial statements are rounded lo the nearest £.
The linaneial slalernenls have been prepared under the historical cost convanlion, Imodified lo include the
revaluation ol freehold properties and lo include inveslmenl properties and certain financial instruments al lair
valuel. The principal accounting poli¢ies adopted are sel out below.
1.2 Going concèm
Al the lime ol approving the linan¢ial slalemenls, the Trustees have a reasonable expectation that the the trust
has adequate resources lo conlinue in operational existenee for the foreseeable future and no maleiial
uncertainties exist regiading this. Thus the Trustees continue lo adopt the going concern basis of accounting in
preparing the financial stat&menls.
1.3 Charitsble funds
Unieslricled funds are available for use al the discretion of lh8 Truslges in furtherance of their charitable
objectives.
Reslricled funds are subjeel lo specific conditions by donors or grantors as lo how they rnay be used. The
PLtrposes and uses of the restricted funds are set out in the notes to the fin8ncial slalernents.
Endowment funds are subject to specific conditions by donor5 that the capital must be maintained by the the
Irust.
1.4 Income
In¢ome Is recognlsed when the trust 18 legalty entitled lo rt after any performance condllbns have been mel, the
amounts can be measured reliably, and it is probable that income will be received.
C85h donation8 are recognised on receipt. Other donations are recognised once the the trust has been notified
of the donation, unless perfom)ance conditions require dèlerr81 of the amount. Income lax recoverable in relation
lo donations received under Gift Aid or deeds ol covenant is r8cognised 81 the lime of the donation.
Legacies are recognised on receipt or othe￿Ise if the trust has been notified of an impending dislribulion, the
amount is known, and receipt is expected. If the arnounl is not known, the legacy is Irealed as a conlingenl
asset.

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 10 NOVEMBER 2025
Accounting polSclos
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or conslruclivs obligation lo transfer economic benefit lo a third
Parly, it is probable that a transfer ol economic benefils will be required in settlement, and th& amount of the
obligation can be measured reliably.
Expenditure is classified by aclivily. The costs of each aclivily ale made up of the total of dire¢l costs and shared
costs. induding support costs involved in undertaking each aclivily. Direct costs altributable lo a single activity
are allocated diredly lo that aclivily. Shared c051s which contribLJle to more than onÈ aetivity and support costs
which are not attributable to a single activity are apportioned between those activities on a basis consistènt with
the use of resources. Central staff costs are allocated on the basis of lim6 spenl, and depiecialion charges are
allocated on the portion ol the assèt's use.
1.6 Investment property
Investment property. which is property held lo earn rentals andloi lor capital apprecialion, is initially reeognised
al cost, which includes the purchase cost and any directly attributable expenditure. Subsequently il is measured
al lair value at the reporting end date. The surplus or deficit on revaluation is recognised in profil or Ios5.
Property rented lo a group enlily Is 8¢counted for as tangible fixed assets.
1.7 Fixed a$sèt Inv•stments
Fixed asset inveslrnenls are inilially measured at transaction price excluding transaction costs, and are
subsequently measured al lair value at each reporting dale. Changes in lair value are recognised in nel incomel
lexpendilurel lor the year. Transaction costs are expensed as In¢urred.
1.8 Cash and Cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call with banks. other short-lerm liquid
inveslmtrnls with original malurilies of Ihree months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Flnancial instruments
The trust has elected to apply the provisions ol Section 11 'Basic Financial Inslrumenls, and Sèction 12'0ther
Financial Instruments Issues, of FRS 102 lo all of ils financial inslrurn&nts.
Financial instruments are recognised in the Irusl's balance sheelwhen the trust becomes party to the contractual
provision$ of the instrument.
Financial assets and liabililies are offset, with the net amounls presented in the linaneial slalements, when there
is a legally enforceable right to set off the ieoognised amounts and there 15 8n intention to settle on a net basis
or lo realise the assèt and settle the liabilily simultaneously.
Basic financial assets
Basic financial assets. which in¢lude debtors and cash and bank balances, are initially m88sured al transaclion
price including transaction costs and arè subsequently cairied al amortis6d cosl using the effective interest
method unless the airangem&nt constilules a finarneing transaction, where the transaction is measured at the
prèsent value of the future receipts discounted al a market rale of interest. Financial assets classified as
receivable within one year are not amortised.

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 10 NOVEMBER 2025
Accounting policies
Icontinuedl
Basic financial liabililies
Basic financial liabilitie5, including creditors and bank loans are initially iecognised at Iransaction price unSess
the arrangement conslilule5 8 financing Iransaclion, where the debt instrument is measured al the present valu&
of the future payments discounted al a market rale of inte￿st. Financial liabilities ¢18ssified as payable within
one year are not amortisèd.
Debt instruments are subsequently carried al 8mortised cost, using the effective interest rate method.
Trade creditors are obligations lo pay lor goods or services that have been acquired in the ordinary course of
opèrations frorn suppliers. Amounts payable are classified as current liabilities if payrnenl is due within one year
or les5. If not, they are presented as non-currènl li8bililies. Trade creditors are recognised initially al transaction
price and subsequently measufed al amortised cost using the effective inleresl method.
Derecognltion of financial liabilities
Financial liabililies are derecognisèd when the trust's conlraclual obligations expire or are dischargèd or
can￿lled.
1.10 Employee benefits
The cost ol any unusad holiday enlillemenl Is recogni5ed in the period in which the employee's seNi¢es are
received.
Tèrmination benefits are recognised immedialely as an expense when the trust is dernon81rably committed lo
lerminale the employment ol an employèe or lo provide lerminalion benefits.
Critical accountlng &stlmat•s and judg•m•nts
In the application of the Irusl's accounting policies, the Trustees are required lo mak8 judgèmènts, eslirnales
and a55umptions about the carrying amount of assets and liabilities th818re not re8dily apparent frorn other
sources. Th8 eslimales and asso¢ialed assumptions ale based on historical experience and other factors Ihat
are considered to be relevant. Aelual results may diffèr fiotn these eslitnales.
The eslirnates and underlying assumptions are reviewed on an ongoing basls. Revlsions lo accounting
eslimales are recognised in the period in which the èstimate is revised where the revision affeols only that
period, or in Ihg period ol the revision and future periods where the revision affects both current and future
periods.
Investments
Unrestricted
funds
Total
2024
Rèntal incomè
Interest Income
Dividend Incomè
5,627
503
39.569
3,800
17,867
22,448
45,699
44,115
45,699
44,115

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED
FOR THE YEAR ENDED 10 NOVEMBER 2025
Raislng funds
Unrèstricted
funds
Totsl
2024
men
mana
3,902
3,764
3,902
3.764
Investrnenl management
3,902
3,764
Expenditure on charitable a¢tlvitie8
Unr•strlct8d Unrèstrleted
Distribution Distribution
2025
2024
Dire¢t costs
Insurance
Donations
Distributions via ministers
Annual luncheon
Curling stones
Yellow vests
Repairs
3,474
3,867
10
26,100
679
41
15
29.100
1,004
18
33,596
30,712
Share ofsupport and governance co$ts1$90 nots 61
Governance
8.258
7.887
41,854
38,599
Analy8ls by fund
Unrestricted funds
41.854
38,599
10-

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 10 NOVEMBER 2025
Support C03ts
Support Govornance
costs
costs
2025
2024 Basls of allocation
Ac¢ountancy
Legal and professional
Staff Costs
1.320
5,029
1.909
1,320
5,029
1,909
1.464 Governance
4,513 Governance
1.910 Govern8n¢e
8,258
8,258
7.887
Analysed between
Charitabl8 activities
8,258
8,258
7,887
Govemance c0515 includes payments lo the a¢¢ounl8nls of £1.32012024- £1,464}
for accountancy fees lo prepare the accounts. No lee was charged for tha
independent examination.
N•t movem•nt In funds
2025
2024
The nel movèmant in funds is staled after chargingllcredilingl..
Fees payable for the independent examination of the charity's financial
statements
Trust8•s
None of the Trustees lor any persons conne¢ted with Ih8ml received any remuneration or benefi15 from the the
trust during the year.
Employees
The average monthly number of persons (including direclorsl employed by the company during the yearwas..
2025
Number
2024
Number
There were no employees whosè annual remuneration was mora than £60,000.

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 10 NOVEMBER 2025
10 Gain$ and Ioss•8 on investments
Endowment Endowment
funds
funds
2025
2024
Gainslllossesl arising on..
Revaluation of investments
Sale of inveslrnenls
119,161
918
101,851
180
120,079
102,031
11 Investsnent PTOPOrty
2024
Fair value
Al 11 November 2024 and 10 November 2025
150,000
Investment property comprises a fairv that is rènted out valued at £150,000. The lair value of the investment
property has been arrived at on the basis ol a valuation carried out in June 2020 by CKD Galbraith Chartered
Surveyors. who are not Connected with the the trust. The valuation w88 made on an open markgl value basls
by iefeience lo rnarkel evidence of transaction prices for sitnilar properties.
2025
2025
Freehold
150,000
150,000
12 FIx8d asset investments
Listed
Investm•nts
Cost or valuation
Al 11 November 2024
Valuation changes
Disposals
1,286,583
120.079
13,754}
AI 10 November 2025
1,402,908
Carrying amount
At 10 November 2025
1,402,908
AI 10 November 2024
1,286,583
12-

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 10 NOVEMBER 2025
12 Flxed asset investments
Icontinuedl
Thè listed invèstments are all held with Barclays Charity Fund with a market value al the 10th November 2025
£1,402,9)8.
Thè original ¢osls of the investments in this fund was £867,633
13 Finon¢i41 instruments
2025
2024
Carrylng amount of financlal assets
Instruments measured #l lair value IhroLJgh profit or loss
1Q.690
11,972
14 Debtors
2025
2024
Amounts falllng due within one year..
Prepayments and a¢¢ruad income
2,152
3,474
15 Currént assét Investments
2025
2024
Unlisted investments
10,6
11,972
Current a5sel investments is money that is silting in the Barclays wealth dealing or trading account that is under
the Buchanan Bequest name bul has not been transferred from Barclays lo the trust bank account at the year
end.
This has been shown as bank balances previously bul feel that 88 not held in the trust bank and with B8r¢l8ys
wealth Ihe Irustees would shtsw Ihis as funds still invested. with the inl&nlion of being transferred lo the trust
bank account within 12 months.
16 Othèr creditors falling due within onè year
2025
2024
Accruals and deferred In￿rn&
33,797
30,220
13-

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 10 NOVEMBER 2025
17 Unr•stricted funds
The unrestricted funds ol the charity comprise the unexpended balaN￿S of donations and giants and
investment income which are not subject lo specific conditions by donors and gianlors as to how they may be
used. These include designated funds which have been Sel aside out of unrestricted funds by the Irusle85 lor
specific purpose5.
At11
Novembèr
2024
Incoming
resources
Resources
expendad
At10
Novembèr
2025
General funds
10,934
45,699
145,7561
10,877
Previous year..
At11
Novembèr
2023
Incoming
resources
Resources
exp•nded
At10
Novemb&r
2024
General funds
9,182
44,115
142.3631
10,934
Unrestricted Fund
The unrestricted fund represents a surplus of undistribuled income.
18 Endowment funds
Endowrnenl funds represent assets which musl be held permanèntly by the trust. Incorne arising on the
endowment funds ¢an be used in accordance with the objects of the trust and is included as unieslriclgd
income. Any capital gains or losses arising on the assets form part of the fund.
At11
November
2024
Gains and
losses
At10
November
2025
Permanent endowments
Permanent Endowment
1,449,535
120,079
1,569,614
Provlous year..
At11
Novèmber
2023
Gains an
losses
At10
November
2024
Permanent endowments
Permanent Endowment
1,347.504
102.031
1,449,535
14-

ROYAL INCORPORATION OF THE BUCHANAN BEQUEST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 10 NOVEMBER 2025
19 Analy¥i5 of net assets be￿8•n funds
Unres*rict•d Endowment
funds
fvnds
2025
2025
Total
2025
At 10 Novèmber 2025:
Investment properties
Investments
Current asselsllliabililiesl
150,000
1,402,908
16,70S
150.000
1,402,908
27.583
10,877
10.877
1,569.614
1,580,491
Unrnstricted Endowment
funds
funds
2024
2024
Totsl
2024
At 10 November 2024:
Inveslmanl properties
Investments
Current assetsllliabililiesl
150,000
1,286,583
12.952
150.(X)O
1,286,583
23.886
10,934
10.934
1,449,535
1,460.469
20 R&lat•d paity transa¢tlons
There wele no disclosable related party transactions during the year12024- none).