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 mEl￿RIAL 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 2c￿6 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 pa￿Thent at such times a5 the T￿tee5 mav
deade or grant to such charities as the Trustees induding consideration without prejudice
to the generality for Can￿r 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 d￿cretiOn
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 cu￿ra1. 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 liqu￿ated funds should be
dlstrlbuted. In course of thelr inVeS￿Ea￿.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 ￿rfornia1￿e 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 Ma￿hall([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 prO￿deS 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 requI￿S 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 COn￿sten￿.
observÈ the methods and prinaples In the appllcable Charitles SORP:
make judgements and estjmates that are reasonable and pn￿ent-
state whetherappllcable accountlng stsndards and statements of recommended
prattice have been followed, sublectto any departures djsdosed and explained in
the finanaal statements: and
P￿pare 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 Bl￿E> MEMORIAL TRUST
Stat*meTht 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
Rec0￿ClI18t￿)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 2￿23
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 h3￿been prepared In coMp￿ance FR5 102,"The
Repordng Standard aP￿[cable in the the Republic of IrÈland', the Starementof
R¥0Mft￿nded Pracbce appfKabletocharitiespreparin8thdr ac¢ollnt5 InactordarKe with the
Rnanclal Repurtingstsntlard appIThb￿ in the UKané Re￿￿￿Of 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 sts*mentsl h3ve been prwred under the hi5t¢yic ustconventlon. with
the eXCep￿On that invesbnents 3rÈ Included atmarketvalue. The finartdal srdtementsare
prepared in 5tÈTlin& whkh is the ftl￿tional cuwrenLyof the entity-
Thecharitytsa Publlc Be￿t Entityas defined by FRS 101
Atthe Meeung oftheTrustees held on ￿NPru 201S￿rNIStees rea(thed U￿nim0U￿Y
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 Inccrfne*lll be r￿e￿ed, ar.& the an￿￿t
of IncoTne can be measured rela￿y.
Gifts made to the Trustare rt£0￿Sed VA￿ they have been c(MM￿l￿ted ts)theTnstln
writing contslnlng both the amouni and 5etdernentdate.
Investment Intome is reco8nlsed bythe date of payr￿t. Bank interest15 1Th1￿led y05S.
on a recdpts bags. Anyrecovuable IKoEnE tsx rektin8 ro tty5 IncoN￿lS attwed.
Idi EXp￿d￿￿Ter￿
Uabillty'es are recognlsed as e%pend5tUreas￿n astherÈ is a b¥al or¢¢t￿tr￿tilt
obli8ètion r¢mmittln8the chèrltyto thaitNwdtiure. It15PttthNe thatsddernentvoll be
requ1￿ and amountof the&)1[8ark)￿ can k n￿o￿[ed reliably.
All expendlture incl￿1￿8 grants, donati￿4 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 Of￿￿erating￿ndSCth1slSt01 investmentmanagen*Trt?nd otherrele¥ant fee
ifj
tharlf•bl8actfvJdes
Costs of ch?ritsble cDmprlsegTrnts made and 5UPWt¢05tsthatcompwÈÉ 011
admInistra￿ve outs0￿￿5. internal and e￿er￿al audl *al athKe forTrustees, tosts
associated wth cw5t1￿t￿TraI atyJ statutN¥req￿rVJ￿￿and StratrBK mana8emÈnt
throughout the year.
Axed asset knve5*nwts
Investments are a form of baslc fftnanclal instrument and ¥￿ knluafty￿￿¥n￿ed atthelr
transactlon value 3nd sub5equentty Measured 8tth￿rfair value asat balar￿e shÈotd•te u51n8
the c1051ngquoted marketPri￿. The ststementof ffinar￿1 8¢￿￿￿e$ Incr￿Je51the net8alns
aNd losses arlslngon [evalua￿On atvj dlspo5a15 thnmrfhouttheyear.
The Trustdoe5 ￿t acquire put optkn4 dWTWatwe50rothercomp￿Xl7n1￿[rdI instn￿￿nI
The maSn fomi of firanthl rlsk faced by the chartyrsthatofvelatThlty ￿ equNymaTkets and
InVeStme￿t n7arkets due to widerecoTh)mOc the attitsde of fnve5tDf5 toinve5Thent
risk and than8es itl Sen1￿￿tt{#￿ern￿eq￿￿e$andWrthlTr par￿Kar5e£￿¥s orsub set1¥>
Ihl Galtts and losses
All galns and kn55es are ra*em ththè S￿teM￿tof FinarKlalAtthl￿￿5 they attse.
Reèllsed gain5 Ind losse5 on invethents are asthe dfftre￿ce ￿tWe￿
proceedsand thelropeTrirTrg c3ryyin8value ortheir puKtha5e walue If wuired YJbseq￿Éthrto
the fSrstdayofthe finarKl3l year. Un[Eal￿d galns and losse$2re ca1￿lated asthe drfTerence
between the tslrva￿e at theyear end and ihelrcarfftvakn. Realbed and w)reali5ed
InvÈthent8aknsa￿d Ios5e5are ccffibb)ed in th? srateMertofNna￿￿l
T8Miitsn
The Charltyls Èxernptfrom tax¢)n rts Charftsb￿ acbth.
ThÈrÈwere no relaied party transa￿onS durfwtheyear.
Trustees recthd no emc4uments12022 fn￿> and trKurred noewnseSl￿22 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 attth*tsfgrthe yearended >)Stpt*thr2023 ICont&l
Investmertlkncome
Intereston cash deposlts
283
281
Investment rn8iia8erneiitosts
2022
An8tysls of rharltsble e¥P*d￿
Donatlons
Cerebral Palsy Scotland
5fcF Ptril¥ntrophv
8￿e Museum & Natural Hi5torygThty
Buie Arts Soclety
Sense ScoiSand
RWIB
International SplThal Re5ÈarchTntst
parkInx￿ Disease SrKlety
BeaCh￿dtrh Bute
H￿hland Heahh Boar
a￿￿OI1S
9,750
9,750
18.750
3.￿0
9,750
9.750
9,750
9.750
3.750
4L682
92.250
Suppvrteosts
Goven￿nce tosts..
Mitrhells Roberton.. Cawtal
Mltche115 Boberton. Revenue
TravelllnBexpenses'. Revenue
IndependentExamine￿sFeek. 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 assetIn￿kn￿ts
2023
2022
Marketvalueb¥outhtforwatd
Add.. 4ddr£ions to Invesfftntsatw
tMsposalsatcarrylrsg¥ahJe
Net88ins ors revalua15on
Matketvalue carried fM¥ard
Net IbssesllplD5
*)n Investrnents:
On dis1￿￿15 as above
(M revalttatitin as above
2023

Plotesoh the acwuntsfurtheyearè¥lwl 305eotmbtrllJ23 I(￿1.)
2022
Debtor. Hatlbonescapllal WC
Debtor.. RathboDesAIC
1>edIt￿￿lI￿8 thje one
2022
Inveslment mana8•rnntwsts
R2thbone lThve5trnent Marmgery￿t
Supporttosts
Mltthells Robert￿. ca￿ts1
Mitchells Roberton.. Revenue
Itxlependent ExamlneVs Fees
150
150
L140
3,3LiI
8M60
io.
aly$15 Dlcharftsblefunds
Analyslsol
Fund
BHlance ot
i Ortober
alan￿at
and
Total Fwwjs
i.
AnalW5oI
Balanreat
Toi¥l
Totsi
8aL9nceat
30 September
2022
2021
Total Fun¢Ls
3721
144191
181 TheTrust Deed auows forthe applkati(m byTrusieÈs of the IncomÈ a￿1(a￿ttl of
the Endowment FU￿d$ for(hathaWe purp05e&
IblThe Unrest￿led fvnd ts ￿a￿able ￿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 reSpon￿bIlity to..
examine the tinancial siatements in accordan￿ with Regulation 11 of thè Charttie5
Accounts (Scotlandl Regulayons 2006.
follow the pro￿du￿ 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 pro￿dureS 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 accOrdan￿W[th Sèction 441illa} of the 2￿5 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
Con￿rnIng 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 3￿pt 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