2024-12-31-accounts

Ch*ity No. SC013879 Th• Buchanan Society Report and Accounts 31 Decffiiber 2024

Th• Buchanan Soclety Ind•x to th• Flnanclal Slatem•ntr forth Year Endod 31 D•¢•mb•f 2024 P8ge Legal and Athiristr8il¥e Infomatw Rewt rf th• Dlreciors ReF4Xt ( the Independwt ExamNxr Sts1￿￿ent of Financial A¢tr¥its8 8818nca Shet Notss to th• Accounts

Pag8 1 Tho Buchanan Socl8ty Logal and AiknlnL8tratlvè InfofrnatW)n Con$tltutlon: Tr S(Klety e818t4i8hed on 5 Marth 1725 and a Seal (rf Charter from the Hc￿. Magstrates T(￿ CouKII of ¢J8¥gow ir0 a Legal 5 SertembeT 1753. 11 is 9)ver￿d ty Ihe Constrtulion. Rules and Byp4awy a8 8merthd 8ThY ted 27 Februw 1W8, 28 Fttru8ry 1988 arwj 18 May 2002. Charlty Nwnb•r. SC013679 Tru•tsM: Addreu.. Ind•p•nd•nt Exominpr: Bell Barr & Co 2 Strart Mln G62 6BW Bank•r. Bank of Scp)IlaThl PenlI￿d House 8 Loclwje EdIr￿Urgh EH12 9DJ Inv•Blmort Advls•r4: George Hw$8 50 GeNp Sware Glasgc G2 1EH

Page 2 Th• Buchanan Socb•ty R•port ofth• Olr•ctorn for th• Year End•d 31 Decemb•r 2024 Structurn Oryantsatlon and Manag•ment The Society Ls an un1nc0rF￿èted astyodat￿n ith charilth ot8th. Th8 Directors. also Trustees ofthe Soc. appointed tythe at the knnual General M8thng. as IAid do%￿ SocW8 Ccnsi￿lI0n. All Memberj of tha Soc gr8 8119t￿8 for the Offi￿ of Dtrector, t1￿Y xe offvll 890 and are Jt in receipt of a grarrt ￿ pensbn from thè SC￿ty. They are by the Mambern personal Fyosert 8t the Annual MeetirvJ. At th& meeting Iho Drectors at ts tc¥> of th•11818hdl retire from office and Other Dire¢#or$ bè elected in Ihoir pkn by the memb￿ ￿riOnallY pres￿1, after bw'ThJ ¢JJy FfOPOSto# aThJ SeC￿de{l. The Directors 80 wint&J shall be add&J to I of the list in the ord•r of Ihwr dectbjn. A ClirectN rthrvj shall rmjt elyitle r84Cl￿n$ tll one ￿r tsll hav• •l•wd from date of retir81. In the 8vont of a y￿nCy crtcurrmg nong Iho Dir￿tr• fr(xn any $8m• m•y I￿ flled up t•mporarily by Board, and the Lh'reclc so 8pWn￿ shall hrjd offi¢e unlll the next Annual Gener81 Meeting. At Ihot Mwbng a [h"reCt￿ 6IK411 b6 apwnted, may or may not b8 the Director 80 appo'nted lemF4yarlly. SLth Dlrec4Jr shall retlfy frcth okn ven the Direclcrf wt pl•c• he h88 t8ken In the C￿￿￿ry c(u8e, havo r¢lk•d. In th• event of B prtsent Member ol the Board b￿"ThJ elxted Pre8e5. ￿ Meeting at he ts pointed sh811 fcrthwith lo elect a Director to fim his ￿•Co. A ￿'reth ¥0 elected S￿011 rallre fr(ffi office when the Dwectcff whw rAace he has taken vh)uld. in the ordvwy us, have rellred. The r(kntbn of DI[￿tr￿ ¢r￿ureS that Difectorn b•n•fft from Ihè exp8rlence oftw)￿ M offico. The Boar(l of DKeLtor8 megt ￿ averny8 thr￿ times yèar and are wel￿ted with cwrent finartlal Inlormation. 08 well as gr8nls to te s￿rded, at thwr meoliry. In •dthticffi. Ihg Offie4 Bewero arn A8 regards d8ylo day mtgr8 8rf¢0. ObJKts arHI Actlvlll•• Thg objects of Socioty aré to 8881st the poor cl the Clan SeOJ. 8nd to further the wjucallon of memb8r8 fvyomise. The Directors have PLrt in plac6 rKttethres to thnlity ?￿d minimise rrsk and risk 1$ con8hJered ( regukr basi5 * Board MlirwJ5. During SOc￿ty ¢LN)tirthd lo Pr￿ Fen5KXB and educaliwl grants in aco)rdtrta vAth the objects, has been extended to lamilles as as ir¥Jividuals. A¢hkv•m•nts Oudng Ihe sear Ihe Soaety paid swants totslirva £32.42312023.. rJ3.8W) Directu8 we eased that the Scaety has been a￿e lo aS￿St to Ihis exknt

Pag8 3 R9￿t of Iho firgctorn for th• Year End•d 31 0oc•mb•r 2024. contlnud Fln•ndal R•ts4•w Entry feas of £450 wwe r￿ad thrlrwJ the year12023.' £600). Investrn8nt inLxffne for the yw dmased by 3.9% from £49,794 10 £47.B4512023." dvJea8e S.1%), vknl dirèct charftaLI• oxpen(iure the S(Ki declets￿ by 4.33%12023..de¢rnase 21.13%). R•¥l•w of A•••ts Full details oflh fflx•J a88otJ inwstrrthts oftr Soc are In Notes 4 Ir¥J 5 to t oc£ounts. rn0rk￿ value olthe kn141 fvnds of thè Soclety at 31 Cecénknr 2024 WaB £1.748,054 {2023'. £1,695,563). T•x Stats A• • regl8t•red th• SOC￿ li •x•mFI frrffi t&Y. Any of fvnd$ •ftw expgndllffti18 relairnd a8 urYestrid•d reoervvs in h 9￿￿r•I fund. H R & J M 8uchonan M8mori81 Ftsnd r0ew￿ted Furrtll Thls l￿d 18 to be u8¢d to ward grarts lo $tudgnts of exc•pttsial Alxllty. Ai)y •urFAus of aft exp•nditw• 18 rntsln•d to rr￿1 the ¢tyd8 dtho fur#Y•. Vic• AdmlTrl Slr P91er w8￿h8n8n Fund (Resthc18d Fund) Thls fund Is lo be u$•d for th di8aknlitits. hny surrlus of expenthlure 18 r•t•in•d to meet the ci•¢ts the fundj. The Dir•ctry• (x>n8bderlh• wfndent to m••t the ¢CrfhYnthntB Sc(A•ty. The Sodoty ha8 khMr¥ to r￿e any it)bestmrts vthtcti the ¢￿Ider ft HthVe￿r al Investment ¢Jeoo￿ ￿ iaKen m the a¢fvice of ts Sowtyj ￿￿(￿er3, Rahbcno In¥estsi)ent manag6m￿l PIAn• lor lh• F Tho Dir•cor81rtond fty the &￿Iety to c4Mrtinue to inglwr ncome from irNestments hekl arKI to maxini80 the fuThls ￿•￿*bIe fu gr•its to thLBe ofthe aan and Septs tAfio are in Meil.

Page 4 The Buch•nan Socloty Report of the Dlrnctor8 for the Yeat Ended 31 Doc•mbw 2024. contlnu•d slat￿￿1 crf Dlr•ct(M¥' Re¥pNMlbllltle• Law applubk to charit￿ in Scoo￿1 re￿￿ tt Directors lo prepare finertk81 statements for each flnancial year thich give a true tsir VEW of the S¢xtys fin8nuaf athitioJ during t￿ yEar d of ifs flnancial posiknm at ts end cl year. In prepadng frnncig18tat6ments. gvlrs a tru• WMI lf tho Dtrethrs are rgwirnd to.. - 8alect sutWle acctsjntiry Pol￿8$ and then apply th￿n consist8nty. - make judgements arKI e8tmate8 Ihol réa8onabb& and pn￿errt.. . state lthether appkabk xcLxmb'ng 8t8nd8rds h8¥• beon fdlo¥Ad , 8uW'•ct lo •ry mat¢rt81 departures disGIo8•d and expl•'r￿d in the ￿n&￿1 sta￿entS,. - preparts the finanud staternenls ￿ the goir#J ccywi ba8iB it ij inapprwlato 10 esurne that the Sc¢ty will ccrtinue in oraabon,. Th• Direetorn are rOsp￿S1￿? fly k￿lI¥j Fwoper 8ccfjuntwvJ rewds th'8ck)se vlth r48sonot4e xcwacy at ￿rne the finanoal rrfjsrtl￿ d rhe ￿ety and vtrich enable Ih8m to 8LKe th81 the finaroo18t8t8mants wih CtsrNles and Trustee Inve¥tsnert IS¢otlandl Act 2005 and re9ulalKJn 8 of the Ch¥ltl8s AccoLtnts (Scottanrf) Re9LA¥t1￿￿ 2008. They are a180 res￿#1b1• for safeguardirwJ the assots 01 ccrfnpany and hert8 for t8klrvJ rea8on8tlo step8 fcf the provonkn w#J d?t•ckn of fraL•J Irr•wlarlbgs. Apwovgd by the Board of Tr￿l¢eY on 18 May 2025 and avJn•d on Trea8urer

Pago 5 Ind•p•nd•nt Examln•rf8 R•port lo th• Tru•t•4s of Th• Buehanan 8ocl•ty I repcit on the acc￿lts for t￿ year ended 31 Decmb8T 2024 8d on pages six lo eleve RHpetlv• responslbullkns of InMl••s and •xamlDer The charitys IN$tses are respon￿￿￿8 for prq)aratKn of the ￿nts in a¢cz(dance with the terms of the cha￿tIeS ar•Y T1￿￿tee Investment Isccthnd) Act 2(Q5 the Charrties Accounts IScdlatKII Regulatiom 2008 las amer¥Jed). The chariils trustee¥ ¢￿sKIe[ It¥9t tr aKht requwement of Rewlatt'on 1011 I{al to Icl ol tha Acc¢unls Reg￿?1￿3 does not apWy.11 is my reS￿n81￿1itY lo ¢xamin the accourrts 45 requked under Sthin 44{1)Ic) of the AGt and to state thh•r m8ts• have com• lo my attentlon. B•$li of th• Ind•pond•nt •xamlnorfs r•port My examinatlon was carriwj out in accwdarKe vhlh Regulalkn 11 ofth8 Charibes kcounts {ScoU8r￿) RégulatiCfi8 2006. An 6xaminaJon ￿r￿deS a revi￿ of Ihg accounling kept by Ihe charity aril c0rnp8da￿ of the accounts yesenled rocord$. 11 akn lrbd￿￿0$ ccfis1d9ratit￿ of ary unusual rtem• d1#dosur￿ in the acco￿18, and g••king explanati¢￿5 ycw as trust888 eortsmirvJ any Èu¢h m8ttèrJ. The procedLnS undertak8n do r+ct FYo4id• All the that l4w￿k1 be r￿￿[8d li an audrt. and consequently I do nol exprè88 an audit opinion vlthv glven by its 8c£ounts. Ind•p•ndent •x•mlnorf¥ •tsl•m•Dt In ccnnKtyon wlh my gKamin8kn"M. no matter h88 come lo my att￿￿.(￿.. 1 ￿kn1¢h gfve8 me r￿$<￿•ble cwse to bdbeve that, In any Matw￿l f￿, tho requirem8n18 to keep xcountlr¥J recryd$ in aco)rdanco SKAion W1)(al of the 20D5 Act and R¢gu18tl¢)n 4 of the 20C6 Accounts Regulation¥', and to prépare xcourrts wfith V4rylh tr K£o￿lmYa reccrfds a￿j to ¢¢Inp￿ *lth RogUh￿¢)n 8 of - th8 2006 k￿nIS Regulations lo w4Neh. in my cynlon. attènlion Sh￿kj bè dr?￿n In ￿der to en8lAo a wopw wd8r8tarKling of the accounts to be reach￿. 8ell & Cornpany Chartered Accountants 2 Stowart Street Milngov Glaggow G62 8BW 16415-25

for th•Y••rend•d 31 D•c•mb•r 2024 Toi•l VA P•l4f Toi•l 2J Fwd Fund Fund• Fwd 20a4 17.215 450 4T,845 17,216 450 47.845 17316 450 47.845 M•mb6rn Fe Inv￿MeTrt Inc4Jme Rerf 761 T•tsl I￿orn Exp•ndllur• P¢rosMr & Famty fy•rt• Stud•M Tr•nt• nlnlltrnlon EXF￿0 25.703 6.720 33.361 2S.703 6.720 33.*1 25.703 6.7ZO 33.361

.070

8,820 N•tlEXp•ndI￿ff*ll1lK0 on Inv••tr)i•ni• 12741 12741 12741 110.7131 N•t O•WLc•M•l on Iw••thi•nt A•••t• 52.7 64.748 N•t Mov•mrt In Fund• 62,481 52,4•1 52,491 Total Fund• Vonv•wd I.￿2.711 1.692.C63 1 @95,563 1,041,$30 1748054

Th• BuGh•n•n80¢1•ty at31 D•wnb•r 21124 2024 Fbt•d Awl• Invest￿nIS ut M•t Vgk Fi¥ed Ini¢r•st Eq￿tieS 82,860 1,571.820 lh16.￿17 urr•nt A•••i• Shcft Tem Depo￿ 45.08D LM•.' Curr•rt Lthblfrt Credkni N•tA•••l• 1 748.054 Unrn•trkt•d Fund• G8n•rnl Fu morfgl FuTrJ 1,718302 1,662.711 29.352 1,744. 1.692,rA3 ft•1trSei•d Fun VA Si Peter P￿d 3,600 1.695.563 2025 rKI •Jr*d M if• bohwti

The Buchanan Socioty Notes to th• A¢¢ounts for the Y•ar Ended 31 DeG•mb•r 2024 A¢counting Pollcl•s The accounts have been pr•paTed in a¢(x>rdartt ith eFWrAble a¢C￿ntkn9 gtandwds and under the hi8torKal co¥1 convenkn. mcthed to reflect the indLMion of inVestM￿t5 Ot market valL and in xcutsnce Vlilh thts charit￿ and T￿te88 Inve8tm8nl {ScoUaTrJ) A¢1 2005, The Charibes ACc￿rts Iscodandl Rewlabffis 2006 and ts Chanb8s SORP IFRS 102} "Accwntlry arnl ReFQrting by Chwibes." Statements of R￿nmended Pwtice applicablè to chgrilies preparing thelr a￿ts in awdanc8 ith th9 Financid Rewtny Stsn(tsrd aPFAkable in UK RepuNic of Irelarvj (FRS 1LY2) leff•clive 1 January 20151.. Incom• I donaticns and gifis are include•J Vilhwi irK(nirvJ rèsourcos under wthw Un￿StrICted or restrictgj funds acc¢xding to tem8 Urthr￿1Ch th• dwalion ts made and Incom018 rewnl￿d once charfty hey entilement to ts funds. It18 probat4e tho In¢ty￿4 VAII be re￿i¥¢d end the amourt ￿ be m88awed relwbty. Expendtture Li•lx'libe6 gre recogn18ed a8 exp￿￿￿￿¢ 01 sC￿n a8 thwg18 a bJNI or c£nstructlve 0￿￿jaI￿n ccmmrtb'ng t￿ charrty10 that ewndth. li is probgw that a trwsler ol 8￿rK￿lC ￿nefits 11 be r8qulred In settlemerrt arh1 ts 8mount of ts obligation ¢an be meaSL￿8d reliably. Expwbdilure13 accounted on ￿ ￿L￿18 b8￿8 and has b•en datstl¢d under h&adlngs trol aggregate all cost TeLgled lo that calo90ry. Whore ¢08ts cannot h ¢Jrecty attnbuteA to parli￿18r heodiThJ8 Ity ha¥e bew alh)c&ted lo acts¥ib•s CO￿Stant with urye of C•h •t Bank and In Hand Cash at b￿k In ha￿1 IrrlLM1es ￿8h and short leTh hgNy liquid investments wlh a shc¢t maturity ofthree monlhs (Y 5$ date of 9￿1r￿j of the aCC￿jnI. Fln•nclal Instruments The charity onty has flnanclal ass￿ financlal11&4118 of 8 kind that qualfy a8 b8fic fin￿GI￿1 instrwnents. Bajic finandal Instruments IrAb"alty rwnl8ed at tr￿$s¢tIon value and m•a8w•d at tsir ¥¢lllthnent value. H•rftag• A￿ets The ¢harity owns certain hwit8ge ossets vkbich are Mt Wit￿1$¢d on tha b881s that tw are of such an age it is r￿1 p¢)ssible lo •slaL4ish ts COBt or market v8lu• of t￿e •sset8. InvgstmMts Foxed 88Sgt Invo8trn•rrtS WO at•d at lalr value at thè bglance sheet dalè. Ré81i8èd and ro¢o9nb￿d gaIr￿ and10$8￿ 4T0 tsken to ihe Slatwnurt of Frnnctal Activibes. Fundi Funds are daggrfted as erther rèsth"ei&J or unr86tr.cted funds, defined as f01b￿.. Re8tride(I funds are sthject to specffic rewlrem￿ts as to thdr use, which may decl8red by the th)nty or ith Ihelr auth￿ty. or (¥e•i&1 thrwgh Wal wocesses. Ixrt 51111 ¥￿thin the wder rtjects of ts dwlty. Unrestricted knds ate eNperKlat4e at Ihe dthè trustees in furth¢r8w of tr objects of the tharmy. If pwts un￿s￿1Cted ftmds are eamiathad at the L'suel'r ol the trustees for a partKular purwse. W are dewwated ￿ 8 sepwate l￿d. Thè deslgnation has an admnistrabve FWOSè or￿Y and does not kg81ty restrica the trustees discrelion to ath thefvTrJ.

Page 9 3￿h8n￿ 8o¢lrty Not•16 to th• Aeeounts forthe Year Ended 31 De¢•mb•r 2024 2923 DcmatKJns er F¢e8 17.215 1,1 17.E65 3.1•l IA•nag•m•ntnd A¢knknl•tr•iion olth•Ch•rlty 2023 TnJstetr F¢#i S•tretafial Dul Tr￿S(￿er Duthes 1rJeF￿durt EAt￿n￿￿on F 6,9)0 14 36 13WD Suftdry AGM Dnner ISurpluBlltknfiu"t Teletion&, PoBps, PMliThJ & &aUonary I￿UlanceS Bank Cherge8 Lty81 fe¢8 Nomlr£• CWB 352 1,104 1.704 23 1.79) 12.248 J. Ib) RwwrvJr4tlon The Pre8e3 and ￿'re¢SOr$. olhw than the Se(xetsry Treasurer ￿l￿ed no rernuneratic or expenseB th• thafty. The Treasurer [￿1¥￿0 8 f¢9 ￿ £6,500 and the Se• 81 received a fee cl£8.5CQ. H•rttago A•Mts Th• SOc￿ty VWIOLB assds (Tht 15 kncwi ¥•J no Ma￿•t vall￿ can b8 estat4i8hed. Due to ￿ n8tur• ol Iha assets invc4wa aTrJ the18Ct thai there 18 m rnorket value tf b)e5e fAJtside if ttwrtty. the Dir8d￿3 C(￿￿KIe[ Ihat J vgluob"o) ol the assets would re8uII in ￿n0¢￿S￿ry CO8t no bfrnefft to Ih charty. Hwitsgo 08Bots Comp￿￿ ofthe F¥e6eB cha￿ ofOffi¢•, Island In Lrynond, lh• B￿nan Mwument In ￿lIe9m. an oak lèctèm, svMg1 F4NiraNs ¥J w ethn￿¥ h.bwol bJ¢ks dttumenls reLiig to Clan Sc¢￿. The Direclorn maintsin detsled rettfd5 of the hpJtsgè a$$8ts hgld and a lul catslogue of the bJ¢k$, d¢￿mOnt9 and arhwrk is detaiw In thè ￿l￿S hanthok. a ¢xpy ofwhith may ¢&trin•d on r8quast frC￿ ihe Stuetsry. Most of Ihe heniag8 a￿ts a￿ 8¥&'lable lor by affang8m8nt aThJ detalls of tc* dothis may be obtaned from Seugtary.

Pp 10 & (•) Flx•dlnt•rnt#•d 49,I•T f19.3W) (1e.4511 18.rffj4 11.W) 1819 T4lqlF¥fy •m•rthl 2924 34 3013 1.171.120 1.542.409 1.516.QfP f•40•6 (231.9131 12T2017) 12)4.gY5J R71¢7n $1.1 1 8110&7

11 Tlw 8u¢h•wn $o¢••ty for lh• Yw Endwl 31 2024 Cr•d(v• Cuwr•rt Tot•1 Qenerd Fund Fund 1.167,8n 47.32 1,775,2￿2 29,352 1.097.Z25 47,329 1,744.5Y R••trl¢t•d Fund• VA S¥ P•r B S X1829 1.748 054 rd•i¢d p•1ytr•rAKaknsiknw¥ t￿ 31 C*•rtw 3)24. wrtfrtyn th•