HMCK/SCA MA1942-ClJOI DR J N MARSHALL IIWIND OF 8LifEI MEMORIAL TRllSr Scottish Offlce Charltle5 No: SC008765 REPORT OFTHE TRvsfEES AND HNANaALSTATEMEpirs From: l Ott¢>ber 2022 To.. 30 September 2023
DR J N MAR5TrL4LL IISLAND OF BLrtEI mElRIAL TRUST Report of the trusteesfor the year ended 30 September 2023 The Trustees present their report and financial ststements of the Charitsble Trustfor the year ended 30 September 2023. The finandal statements have been prepared In accordance with the accounting pollcies set out In note I to the accounts and comply with the charitY'5Trust Deed, the Charlties and Trustee Investment Ikotlandl Art 2005, The (harities Accounts IScoUandl Regulations 2c6 las arnendedl and Accounting and Reporting bycharlties: St*ement of Retommended Practlce appllcable to charities preparing thelr accounts in accordance with the the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021 (Effective I January 20191 Oblectlves and artl¥i¥és The purposes oftheTrust as lald down In theTrust Deed are forapplication ofthe income and the capitsl ol the Trust to such Charitable pury)ose5 by paThent at such times a5 the Ttee5 mav deade or grant to such charities as the Trustees induding consideration without prejudice to the generality for Canr Research and rèllef. CharTties for the blind and deaf. the Bible Lands Souety with particular reference to jordan.. wildlife and omithology- famine and poverty rellef through Oxfam and Save the Children Fund. The Trustee5 have fijll and unfettered dcretiOn In the selKtion of the Charitable purposes to which theTrust Funds shall be applled from tlme to time and neither the naming of a Charity as aforesald nor the selection of a Charity on 4 former occaslon shall be taken a5 entitling a Chadty to recefve a paymentfrom thÈTrustees. For the avoidance of doubt the word°tharity' shall forthe purpose of the Trust indude within Its meanln8 suth cura1. educational, scientific orresearth bLxlies, institutlons or purposes as are normally, according to the widest interpretation, regarded as Charitable ortreated as such for taxation or other offioal purpose. lrt Implementing these purp)ses the Trustees apply a non-exclusfve p¢llcy of seeknng and supportlrg tharitable causes local to the Island of Bute. At the Meetln8 of the Trustees held on 30 April 2018 the Trustees reathed a%ement unanimously to wind up the Trust and signed a Resolution to that effecL The Trustees detemioned to Idendfy suitable charltzble tauses to whom the liquated funds should be dlstrlbuted. In course of thelr inVeSEa.0nS a major project was identtfied for e5tabllshing a kldney dialysis unit wlthln Vittoria Hoswtal In Rothe5ay. At present kidney patients on Bute require to make several trips a week for dialysis to Inverttyde Hospital in Green¢Kk. A fund towards estsbllshin8 a unit In Rothesay was alrea(tystsrted but had substantial fvnds stlll to find to reach target. The Trustee5 deterniined to offer support to enable the tsrget to be reathed and to partl¢ipate in the stserin8 group formed to w(Ykwith the Health Authorttles to bring the proiect to fruition. TheTru51ees tookthèview that thls deployment of residual funds towards such a Bute centred gryKI tause wa5 stron8ty in line with the trust purposes and the wishes of the trust's founder. To date £214,732 has been contrlbuted through the Health Board Endowment Fund treated to support the prDjecL Completion ofthe project was hlndered by restrietlons but bullding work is now complete and The Marshall Unit is now opened and accepiing patients. Grantmakln£ poll The previous poliry had been superseded bythe deci%on to wlnd up. Athle¥ements and perfomian Pendlngthe aforementioned final deosions re8ardtrtg the distyibutlon of the Ilquldated lunds the Tru5teES have no commentlo make on athievements and rfornia1e since 6 April 2017.
DR J N MARSHALL IISLIND OF BUTEI MEMORIAL TRUST Report of the truslee5 for the year ended 30 September 2023 Icontd.I Financlal revlew The fuJkd5 of the Trust were estsbllshed by the trdnsfei of investments that belonged tothe Ikte Miss Dorothy Nairn Mayshall together with addFtOon&l ntrfblrtIOnS f.-om Miss M8rgaTet M31'shall ano Mis$ 5helha Marshall, and the furtds arÈ invested under profe55iona advice. Investment Income arising during the perfod totalled £283 and tharitable donatlDn5 of £92,250 were made. Investment pollcy and performan As can be seen from the accounts the entlre Investment portfolio has been Ilquidated in antl¢lp8tion of the wlnd up of the trust and d15bursement of *F.efunds. Rlsk management The Trustees have considered the major risks.to which the charrtable trust is exposed and have rEviewed those r15ks and established systems znd proodures to manage those risks. Reserves pollcv The Tnjstees retain suffiaent erVeS to ensure that it Is ableto meet its overheads arbd objèctives. StruttLTre. g0Veman and management The Dr l N Mahall([SI3nd of Blltel Trust b a CharitableTrust estsblished in 1986 by the late Mlss Dorothy Klairn Marshall of 23 Ardbeg Roèd, Rothesay. undera Deed of Trust dated 5th March 1986 and registered in the Books of Council and Session on 21st March 1986. Miss Marshall aPPCpinted herself and two other initial Trustees anrl the Dood prOdeS for the assumption of additional Trustees. Mbs Marshall died on 3rd September 1992. During the flnanclal period reported on the Trustees original and assumed were.. Mr Doneld Bremner Rei Mrs All1 Helen Thomson Helen Jean Madeod
DRJ N MARSHAiL It51AND OF BiryEI MEPIIORIAL TRUST Report of the trvstees forthe yearended 30 September 2023 ICDAtd.I Referen and admlnistrative Ènformatlon Trustsès Mr Donald BremnerReid. Mrs Ailisa Helen Thomson. Mrs Helen lean Madeod. Princlpal Office and Sollcitors Mitchells Roberton Solicttors George Flouse 36 North Hanover Street Glasgow Gl 2AD Charlty Number SC008765 Independent Examlner Andrew WIIS( BA C4 Partner Nelson Gilmour Smllh 53 Bothwell street Glssgow G2 6TB Bankers The Royal Bank of Scotland PLC Glasgow Clty Branch 10 Gordon Street Glasgow Sl 3PL
DR J N MARSHALL IISLAND OF BUTEI MEMORIAiTRusr Report of the trustees forthe year ended 30 5epternber 2023 {eontd.I Trnstees, responslbllltles In relatlofi totheflnarbgal statements The Trustee5 are responslble for preparin8 an annual report and flnant4al Statements in accordante with applicable law and United knngdom knountinB Standards Iunlted Kingdom generally Accepted Accounting Practice). CharFty law requIS theTru5tees to prepare or have prepared on their behalf actounts for each financial ye8rwhrch give a true and frdirview of the state of affairs of the Drj N Marshall Ilsland of Butel Memorial Trust and of the income and eXpend[tU of the Trust for that rIod. In preparing those accounts. the Trustees are required to:_ select suhable accounung policies and then appty them COnsten. observÈ the methods and prinaples In the appllcable Charitles SORP: make judgements and estjmates that are reasonable and pnent- state whetherappllcable accountlng stsndards and statements of recommended prattice have been followed, sublectto any departures djsdosed and explained in the finanaal statements: and Ppare the finantlal statements on the goln8 concern basls Is Inappropriate to presume that the Charitsble Trust will continue in $ten. The Trustee5 are responslble for keepin8 proper accoundng recordswhich disdosewrth reasonable atturacy at anytime the financial position of the Dr l N Marshall Ilsland of Butel M@morSal TrLrst and to enable them to ensu that the accounts Complywth the (harities and Trustee InvÈ5tment (Scotlandl Act 2005 and the Charities Accounts IScoVand} Regulations 2006 las amended). They are a150 responsible for fe*uarding the assets of the DrJ N Marshall Ilsland of Butel Memorial Trust and hence for taklng réasonable step5 for the prevention and deiettron of fraud and other Irre8vlarities. Izlo(12 Approved by the Trustees on.......................................and 8ned on theirbehalf bv: Mr Donald Bremner Reld Trustee
DR J 14 f¥iAR5HALLIISiAND OF BlE> MEMORIAL TRUST StatmeTht of Fimndal A¢tl¥lU lor the year ended 30Septembw 2QZ3 Total Funds 2023 Total Funds 2022 Income and ndowmeDts frw: ITwestment income 283 Total Income Expenditure on: R3kslng Fund$ Investment management costs Charltablea¢tlvltles charItab donatlons Support costs 92.250 870 41,682 690 Cost of grant maklw 93.120 42.3n Total e¥pwdittire 93.120 4¥7Z Net lexpendlturellincome b¢knre 110s$4$118ains on In¥estments 19U3 142.3ni Net1105sesV8alns on Investments Net Mty4Èment In Fwnds 7(bl P2W7) 142.3721 Rec0ClI18t)n of funds: Total Funds brou8ht forward Totsl Funds urrfed forward 141.191 183,563 141.191 The notes on pages 7t0 10 forrn part of these accounts
DR J N MARSHALL (15LAP4D OF BifrEI MEMIJRIAL Trusr Balance Sheèt as at 30 September 223 Totsl Fund5 Totsl Funds 2022 Fkted ossets: Investmènts Totzl fved assets 71b) Current assets: Debtors Cash and cash equivalents 49.794 149.651 Total currert assèts 49.794 149,651 Uabllttks: Credltors fallln8 due wfthln onÈ year 11.4401 48,154 18,4601 141.191 Net current assets Total assets less wrrent l]ablNlles 48354 141.191 The fund5 of the charfty: Total tharityfunds 483 14L191 The notes on pa8es 7 to 10 form part of these accounts 12101126 Approved by the Trustees on...................._..........and 548ned on their behaw by- Mr Donald Bremner Reid, Tnjstee
ORJ 11 MARSW (tsiAND OF OUTEI MEMORIALrnIST BasLsolpreparatlon These finanaal statwents h3been prepared In coMpance FR5 102,"The Repordng Standard aP[cable in the the Republic of IrÈland', the Starementof R¥0Mftnded Pracbce appfKabletocharitiespreparin8thdr ac¢ollnt5 InactordarKe with the Rnanclal Repurtingstsntlard appIThb in the UKané ReOf Ireland IFRS 1021 Icharfties SORP IFRS 1021 (Effethve l Jartuary 20191 atJd the Charitses andTrustee Iw&%bnent ISrotlaTrJl Act 2W5 and the Charity Accounts IScotLindl RwLAtiorfj 2( las amendÈdl. The accountslfinancial stsmentsl h3ve been prwred under the hi5t¢yic ustconventlon. with the eXCepOn that invesbnents 3rÈ Included atmarketvalue. The finartdal srdtementsare prepared in 5tÈTlin& whkh is the ftltional cuwrenLyof the entity- Thecharitytsa Publlc Bet Entityas defined by FRS 101 Atthe Meeung oftheTrustees held on NPru 201SrNIStees rea(thed Unim0UY towind up theTrust u) due aThS slgned a ftesoluYon to thateffecL Isee Reportof theTrustÈesl Ibl Fundsstrurture Detallsof the fijnd strutbjre are dW)sed ITr te I InmrneRe¢oEnltlts All intome15 re¢ognised ce the tharity has enbvementto thelneome. V)ere ts sufvent certolntyof recelpt and so itis probable thatthe Inccrfnelll be reed, ar.& the ant of IncoTne can be measured relay. Gifts made to the Trustare rt£0Sed VA they have been c(MMlted ts)theTnstln writing contslnlng both the amouni and 5etdernentdate. Investment Intome is reco8nlsed bythe date of payrt. Bank interest15 1Th1led y05S. on a recdpts bags. Anyrecovuable IKoEnE tsx rektin8 ro tty5 IncoNlS attwed. Idi EXpdTer Uabillty'es are recognlsed as e%pend5tUreasn astherÈ is a b¥al or¢¢ttrtilt obli8ètion r¢mmittln8the chèrltyto thaitNwdtiure. It15PttthNe thatsddernentvoll be requ1 and amountof the&)1[8ark) can k no[ed reliably. All expendlture incl18 grants, donati4 suppwttosts aThJ governan ¢osrs Is Tecg8nised on an Bf(ru8ls basi%. ExpendiNwe Isalktsted in the Ststement of PKtNitiÈs under headiny th3ta88re88* all rekted co
Costsof ralslhB fimd5 Thec05ts OferatingndSCth1slSt01 investmentmanagenTrt?nd otherrele¥ant fee ifj tharlf•bl8actfvJdes Costs of ch?ritsble cDmprlsegTrnts made and 5UPWt¢05tsthatcompwÈÉ 011 admInistrave outs05. internal and eeral audl al athKe forTrustees, tosts associated wth cw5t1tTraI atyJ statutN¥reqrVJand StratrBK mana8emÈnt throughout the year. Axed asset knve5nwts Investments are a form of baslc fftnanclal instrument and ¥ knluafty¥ned atthelr transactlon value 3nd sub5equentty Measured 8tthrfair value asat balare shÈotd•te u51n8 the c1051ngquoted marketPri. The ststementof ffinar1 8¢e$ IncrJe51the net8alns aNd losses arlslngon [evaluaOn atvj dlspo5a15 thnmrfhouttheyear. The Trustdoe5 t acquire put optkn4 dWTWatwe50rothercompXl7n1[rdI instnnI The maSn fomi of firanthl rlsk faced by the chartyrsthatofvelatThlty equNymaTkets and InVeStmet n7arkets due to widerecoTh)mOc the attitsde of fnve5tDf5 toinve5Thent risk and than8es itl Sen1tt{#erneqe$andWrthlTr parKar5e£¥s orsub set1¥> Ihl Galtts and losses All galns and kn55es are raem ththè SteMtof FinarKlalAtthl5 they attse. Reèllsed gain5 Ind losse5 on invethents are asthe dfftrece tWe proceedsand thelropeTrirTrg c3ryyin8value ortheir puKtha5e walue If wuired YJbseqÉthrto the fSrstdayofthe finarKl3l year. Un[Eald galns and losse$2re ca1lated asthe drfTerence between the tslrvae at theyear end and ihelrcarfftvakn. Realbed and w)reali5ed InvÈthent8aknsad Ios5e5are ccffibb)ed in th? srateMertofNnal T8Miitsn The Charltyls Èxernptfrom tax¢)n rts Charftsb acbth. ThÈrÈwere no relaied party transaonS durfwtheyear. Trustees recthd no emc4uments12022 fn> and trKurred noewnseSl22 blill. t)onald B Rekl. a Tiustee of the t¥J N Marshall of Memc¥fj4lTrust The fees due to Mltchells Rd)thn foradmJntstrab¥e services fortheyear Ènded 3OSeptember 2023 tOtalled£X¢2o22£1Qb)j).
DRJ N MAR5wIISLAIID(¥ BVTEI MEMORLIL TRUST Notes the attthtsfgrthe yearended >)Stptthr2023 ICont&l Investmertlkncome Intereston cash deposlts 283 281 Investment rn8iia8erneiitosts 2022 An8tysls of rharltsble e¥Pd Donatlons Cerebral Palsy Scotland 5fcF Ptril¥ntrophv 8e Museum & Natural Hi5torygThty Buie Arts Soclety Sense ScoiSand RWIB International SplThal Re5ÈarchTntst parkInx Disease SrKlety BeaChdtrh Bute Hhland Heahh Boar aOI1S 9,750 9,750 18.750 3.0 9,750 9.750 9,750 9.750 3.750 4L682 92.250 Suppvrteosts Govennce tosts.. Mitrhells Roberton.. Cawtal Mltche115 Boberton. Revenue TravelllnBexpenses'. Revenue IndependentExaminesFeek. RÈvenue 150 570 870 Note: The chir8esthown aljfftfor MiltheUsRokntM rthts to fees due In respert of the pe)d. Axed assd Invesbnents 2022 la) Total net proteedsth disposat5 ie55'. Bookvalue Net Ilosse51 on dL%posa15 Ibl Movementknfl¥¢d assetInknts 2023 2022 Marketvalueb¥outhtforwatd Add.. 4ddr£ions to Invesfftntsatw tMsposalsatcarrylrsg¥ahJe Net88ins ors revalua15on Matketvalue carried fM¥ard Net IbssesllplD5 )n Investrnents: On dis115 as above (M revalttatitin as above 2023
Plotesoh the acwuntsfurtheyearè¥lwl 305eotmbtrllJ23 I(1.) 2022 Debtor. Hatlbonescapllal WC Debtor.. RathboDesAIC 1>edItlI8 thje one 2022 Inveslment mana8•rnntwsts R2thbone lThve5trnent Marmgeryt Supporttosts Mltthells Robert. cats1 Mitchells Roberton.. Revenue Itxlependent ExamlneVs Fees 150 150 L140 3,3LiI 8M60 io. aly$15 Dlcharftsblefunds Analyslsol Fund BHlance ot i Ortober alanat and Total Fwwjs i. AnalW5oI Balanreat Toi¥l Totsi 8aL9nceat 30 September 2022 2021 Total Fun¢Ls 3721 144191 181 TheTrust Deed auows forthe applkati(m byTrusieÈs of the IncomÈ a1(attl of the Endowment FUd$ for(hathaWe purp05e& IblThe Unrestled fvnd ts aable be spent on anyofthe ofii Charftable Trust
-li- Independent Examiner's Report to the Trustees of Dr J N Marshall {Island of Bute) Memorial Trust I report on the financial statements of the Drj N Marshall Ilsland of Butel Memodal Trust for the year ended 30 September 2023, which a set out on pages 5 to 10. Respectlve responslbllltles of Trustee5 and E¥amlner The charlty's Trustees are responslble for the preparation of the financial statements In accordance with the term5 of thè Charities and TTUStee Investment (Scotlandl Act 2005 and the Charitie5 Accounts (Scotlandl Regulations 2CX)6. The charity's Trustees consider that ihe audlt requirement tf the Regulation Iolillal to Icl of the Accounts Regulations does not apply and that an Independent examlnation 15 needed. It is my reSponbIlity to.. examine the tinancial siatements in accordan with Regulation 11 of thè Charttie5 Accounts (Scotlandl Regulayons 2006. follow the produ lald down in accounts as qUired under se¢tlon 44llllcl of the 2005 Art; and state whether particular mattÈrs have come to my attention. Ba515 of Independent Examlner's statement My examlnatlon was carrled out in accordance wtth Regulation 11 of the tharities Accounts Ikotlandl Re8ulations 2006. An examlnatlon Includes a review of the 3ttounting records kept by the chartty and corllparlson of the financial statements presented wlth those recordk It also indudes consideratlcin of any unusual items or disclosures in the finanaal statemènts, and seeking explanatlons from you as Trustees concerning any suth matter5. The produreS undertaken do not provide all the ev1dence that would be required in an audit. and Consequent no opinion is glven a5 to whether the financial ststements present a'true and falr vi&¢, and the port Is lirnlted lo those matter5 set out in the ststement below. Independent Examlner's ststement In eonnectlon ¥t my examlnation, whlch 15 complele. no matters have Come to my attention which give me reasonable cause to believe that In any material respect: accounting records were not kept In respect of the Drj N Marshall Ilslan(l of Burel Memorlal Trust in accOrdanW[th Sèction 441illa} of the 25 Act and Regulatlon 4 of the 2006 Accounts Regulations. or the finanaal statements do not accord with those records; or
-12- Independent Examiner's Report to the Trustees of Dr J N Marshall (Island of Bute) Memorial Trust (Continued) the Ilnandal Statements do not tornply with the applicable requlreNnert5 ConrnIng the form and content gf financial statements set out In Regulatlon 8 of the 2006 Accounts Regulations, other than any requlremenl that the ffinan¢ial Statements give a "true and falr" view whlch Is not a matter considered as part of an Independent examlnatltrn. I have no concerns and have come across no other matter5 in connection with the examlnation to which, in my oplnlon. attention should be diawn in order to enable a proper understanding of the flnancial ststements to be reached Th15 report, induding my statement, has been prepared for and only for the charitvs Trustees as a body. My work has been undertaken so that I might state to the charlty's Trustee5 those matters l am required to state to them In an independent examlner's report and for no other purpose. To the fvllest extent pÈrmltted by law. I do not 3pt or assume responsibility to Margaret Marshall and Miss Sheina Marshall, and the fvnds a invested under professional for this report, or for the statements I have made. Andrew Wilson BA CA Partner Nelson Gllmour Smlth Oate: 53 Bothwell Street Glasgow G2 6TB