MAXWELL MEMORIAL TRUST
ANNUAL REPORT & FINANCIAL STATEMENTS
FOR THE
YEAR ENDED 5" APRIL 2025
CHARITY NUMBER SC006593
a
Maxwell Memorial Trust $C006593 Independent Examiner’s Report Year Ended 5" April 2025
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Independent Examiner’s Report to the Trustees of the Maxwell Memorial Trust | report on the financial statements of theMaxwell Memorial Trust for the year ended 5" April 2025.
Respective Responsibilities of Trustee and Examiner lhe Trustees are responsible for the preparation of the accounts in accordance with the Charities and Trustee Investment (Scotland) Act 2005 (“the Act”) and the Charities Accounts (Scotland) Regulations 2006 (“the Regulations”). The Trustees consider that the audit requirement of regulation 1091(d) does not apply. It is my responsibility to examine the accounts as required under section 44 (1 (¢) of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination is carried out in accordance with the regulations. An examination includes a review of the accounting records kept and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the Trustees concerning any such matters. lhe procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | 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 aspect, the requirements (a) to keep accounting records in accordance with the Regulations, and
(b) to prepare accounts which agree with the accounting records and comply with the 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
9" July 2025
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SC006593
PRUSTEES ANNUAL REPORI
FOR~ YEARi nrTO 5"=th Aprilmi 2025_
rhe Trustees have pleasure in enclosing their report together with the financial statements and the independent examiner's report for the year ended 5" April 2025.
Name and Address
The Trust's name is Maxwell Memorial Trust and it may be contacted at Cardoness Estate Office. Cardoness, Gatehouse of Fleet, DG7 2EP
Purpose
The Trust's aim is to provide low cost accommodation for local residents
Trustees
Activities
Phe Trust continues to provide low cost accommodation for local residents in Jesmar and Bridge Cottage, whilst retaining its part share interest in Nol, No3 and No5 Bayview Terrace which has enabled local people to get on the housing ladder. During the year it was decided to sell Bayview House, it having been vacated by its lang term tenants as it did not lend itselfto part ownership and would have required considerable renovation to bring it ap to a relettable standard. There was also considerable expenditure incurred during the year on Jesmar between tenancies. Unlike Housing Associations, with regards to the part shared properties at Bayview Terrace, the Trust does not require arent for the half share owned by the Trust but it does expect the residents to maintain the properties in sound conditions.
Approved by the Trustees and signed on its behalf:-
DATED15" July2025 ae Page 3
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||| |---| |Maxwell Memorial Trust| |$C006593| |Receipts and Payments Account| |YearEnded5thApril2024|
| 2025 | 2024 | |||
|---|---|---|---|---|
| Receipts | ||||
| Rents Received - Bayview House |
nil | £ | 3,060.40 | |
| Jesmar | £ | 4,760.00 | nil | |
| Bridge Cottage | £ | 4,200.00 | £ | 4,200.00 |
| SP Power Systems - Wayleave Bridge Cottage | £ | 42.96 | £ | 42.52 |
| Bank Interest - High Interest Account Bayview House - net proceeds sale of property |
£ £ |
1,701.59 114,211.00 |
£ | 1,757.78 nil |
| Jesmar - refund of Council Tax | £ | 408.32 | nil | |
| Jesmar - refund of solicitors fees re sale ofproperty not going ahead | £ | 1,780.00 | nil | |
| Total Receipts | £127,103.87 | £)9,060.70 | ||
| Payments | ||||
| Insurance | £ | 1,817.51 | £ | 924.53 |
| Repairs- No 1 Bayview Terrace |
nil | nil | ||
| Jesmar | £ | 13,562.68 | £ | 454.95 |
| Bayview House | £ | 2,153.86 | £ | 347.78 |
| Bridge Cottage | £ | 6,841.31 | if | 311.57 |
Professional Fees - Jesmar |
£ | 2,640.00 | £ | 3,801.50 |
| Professional Fees - Bayview House | £ | 960.00 | nil | |
| Total Payments | is | 27,975.36 | £ | 5,840.33 |
| Surplus/Deficitfortheyear | £ | 99,128.51 | £ | 3,220.37 |
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MAXWELL MEMORIAL TRUST
$C006593 Income 6th April 2024 to 5th April 2025
| SP Power Systems | |||||
|---|---|---|---|---|---|
| Wayleave | £ | 42.96 | |||
| Interest High Interest Business | Account | ||||
| 30/04/2024 | £173.98 | ||||
| 31/05/2024 | £155.57 | ||||
| 28/06/2024 | £129.97 | ||||
| 31/07/2024 | £146.42 | ||||
| 30/08/2024 | £133.23 | ||||
| 30/09/2024 | £138.28 | ||||
| 31/10/2024 | £134.24 | ||||
| 29/11/2024 | £122.07 | ||||
| 31/12/2024 | £136.09 | ||||
| 31/01/2025 | £130.26 | ||||
| 28/02/2025 | £111.18 | ||||
| 31/03/2025 | £190.30 | £1,701.59 | |||
| Jesmar- Rent | Bridge Cottage - Rent | ||||
| 27/08/2024 | £595.00 | 30/04/2024 | £350.00 | ||
| 25/09/2024 | £595.00 | 31/05/2024 | £350.00 | ||
| 25/10/2024 | £595.00 | 01/07/2024 | £350.00 | ||
| 25/11/2024 | £595.00 | 31/07/2024 | £350.00 | ||
| 20/12/2024 | £595.00 | 02/09/2024 | £350.00 | ||
| 23/01/2025 | £595.00 | 30/09/2024 | £350.00 | ||
| 24/02/2025 | £595.00 | 31/10/2024 | £350.00 | ||
| 24/03/2025 | £595.00 | 02/12/2024 | £350.00 | ||
| 31/12/2024 | £350.00 | ||||
| £4,760.00 | 31/01/2025 | £350.00 | |||
| 28/02/2025 | £350.00 | ||||
| Jesmar-RefundofCouncilTax | 31/03/2025 | £350.00 |
Jesmar - Refund of Council Tax 21/10/2024 £408.32
£4,200.00
Williamson & Henry
Jesmar - refund for an overpayment in sale that did not go through £1,780.00
Bayview House - net proceeds from sale of property £114,211.00
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MAXWELL MEMORIAL TRUST
$C006593
Payments 6th April 2024 to 5th April 2025
BAYVIEW HOUSE
Williamson & Henry - Cash Account
Sale Price of Property
£118,500.00
| Outlays & Fees | ||||
|---|---|---|---|---|
| Dues of Dual Registration Fee | £ | 80.00 | ||
| First Scottish Searches | £ | 479.00 | ||
| HMRC - VAT due on Conveyancing Fees | £ | 301.00 | ||
| (£1,505 @ 20%) | ||||
| Solicitors Conveyancing Fees | £ | 1,505.00 | ||
| Solway Property Care | inspection fees | £ | 100.00 | |
| HMRC - VAT due on Estate Agency Fees | £ | 364.00 | ||
| (£1,820 @ 20%) | ||||
| Estate Agency Fees - Commission on Sale | £ | 1,200.00 | ||
| - Accompanied Viewings | £ | 120.00 | ||
| - Marketing Fees | £ | 500.00 | ||
| £ | 4,649.00 | |||
| Less:Amountpaidon | 30/7/24formarketing | £ | 360.00 | £4,289.00 |
£114,211.00
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MAXWELL MEMORIAL TRUST
,
$C006593
Payments 6th April 2024 to Sth April 2025
| Insurance | |||
|---|---|---|---|
| 27/05/2024 | Cardoness Holiday Park | £ | 1,817.51 |
| Bayview House | |||
| 29/05/2024 | J & E Shepherd | £ | 600.00 |
| 31/05/2024 | Dumfries & Galloway Council | £ | 519.31 |
| 19/07/2024 | Williamson & henry | £ | 360.00 |
| 28/10/2024 | Hands on Labouring | £ | 25.00 |
| 11/11/2024 | xx | £ | 75.00 |
| 06/01/2025 | Dumfries & Galloway Council | £ | 554.05 |
| 06/01/2025 | FY | f£ | 175.00 |
| 23/01/2025 | Tarff Valley | £ | 78.00 |
| 26/02/2028 | £ | 100.00 | |
| 27/02/2025 | Scottish Power | £ | 250.00 |
| 03/03/2028 | £ | 137.50 | |
| 25/03/2025 | Solway Water Management | £ | 240.00 |
| £ | 1,534.55 | ||
| Bridge Cottage | |||
| 25/04/2024 | Dumfries Window Systems | £ | 6,529.00 |
| 23/05/2024 | Calor Gas | f£ | So |
| 23/05/2024 | Hands on Labouring | £ | 50.00 |
| 14/06/2024 | Calor Gas | £ | 16.56 |
| 06/01/2025 | Dumfries & Galloway Council | £ | 212.63 |
| £ | 6,841.31 |
| Jesmar | |||
|---|---|---|---|
| 09/04/2024 | Solway Water Management | f | 240.00 |
| 13/05/2024 | Williamson & Henry | £ | 2,280.00 |
| 14/05/2024 | Currys | £ | 1,392.00 |
| 14/05/2024 | Dumfries & Galloway Council | £ | 593.26 |
| 23/05/2024 | Hands on Labouring | £ | 50.00 |
| 23/05/2024 | xm | £ | 588.00 |
| 27/05/2024 | Deeside Painters | £ | 3,722.35 |
| 27/05/2024 | gm | £ | 370.00 |
| 29/05/2024 | MN Chimney Services | £ | 120.00 |
| 19/06/2024 | x | £ | 3,964.45 |
| 20/06/2024 | Lotus Electrical | £ | 376.33 |
| 26/06/2024 | Hands on Labouring | £ | 100.00 |
| 26/06/2024 | xx | £ | 160.00 |
| 26/06/2024 | J Hughes Services | £40.00 | |
| 26/06/2024 | gy | £175.00 | |
| 26/06/2024 | MN Chimney Services | £190.00 | |
| 19/07/2024 | Hands on Labouring | £50.00 | |
| 19/07/2024 | Galbraiths | £360.00 |
| 15/08/2024 | Dumfries & Galloway Council | £195.40 |
|---|---|---|
| 04/09/2024 | Elite Inventory Property Serv | £130.00 |
| 04/09/2024 | PY | £420.00 |
| 16/09/2024 | Hands on Labouring | £100.00 |
| 18/09/2024 | H Thomson & Sons | £301.39 |
| 18/09/2024 | £72.00 | |
| 26/09/2024 | £75.00 | |
| 23/10/2024 | £75.00 | |
| 28/10/2024 | £62.50 | |
| £16,202.68 |
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Maxwell Memorial Trust $c006593 Satement of Balances Year Ended 5th April 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| Cash and Bank Balances | ||||
| Balance as at 6th April 2024 | f£ | 132,958.56 | f£ | 129,738.19 |
| Surplus/(Deficit) for the year |
£ | 99,128.51 | £ | 3,220/37 |
| Balance as at Sth April 2025 | £ | 232,087.07 | £ | 132,958/56 |
| Bank Current Account | f£ | 658.77 | f£ | 481.85 |
| Bank High Interest Account | £ | 231,428.30 | £ | 132,476.71 |
| £ | 232,087.07 | £ | 132,958156 |
Other Assets
The Trust currently owns the following properties: Jesmar
Bridge Cottage Potential Development Site at Bayview
The Trust currently has a part share ownership in the following properties:
No.1 Bayview Terrace
No.3 Bayview Terrace
No.5 Bayview Terrace
Liabilities
The Trust currently has no Liabilities
Approved by the Trust on 15th July 2025 and signed on its behalf
Trustee
Trustee
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MAXWELL MEMORIAL TRUST
$C006593
Notes to the Accounts Year Ended 5th April 2025
Trustees Remuneration and Expenses
During the Year Trustees received expenses totalling £NIL
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