Account of the Intromissions of the Trustees of IsabellA and Elizabeth Mudie Trust For the year lo 31s( March 2026 2028 TRUSTEES'.- Lindsay8 Tru81ees & Executors Limited LEI'.213800B4YD3TP3K57D76 Scottish Charlly Number SC014030 KLPIMIS2211
Isabella and Elizabeth Mudle Trust Trusteos, Rè ort The TrJsleès subrnll Ihelr ieportwllh the accounts l(Y the year ended 31 March 2026 The Twsl was by Mutual Dlsposlllon and Seltlemenl by PAiss Isabella Mudie and Mlss Elizabeth Mudio dated 13 August 1921 and iwo ¢odi¢iSs by Mlss Isabell8 Mlidle dated 30 Novemb&r 1927 and 22 Mgrch 1928. The Fund shall be held and admlnlstered by Trustees. The presgnt Trusiegs are Lin(Isays Truslses & Executor5 Llmlted Appoliitmgllt of Trustees New Iiustees ar? assumed by Ihe exisling Iruslees under the Trust DIspDslllon and Selllement. The Trustees 81 thè dale ol Ihis repurl tind Ihioughoul Ihe year are no18d. Organlsallon The Iiust 15 admini818red under the supervSsloii of th8 Trustees, who mèel periodlcally lo assess giant appli¢81ion5. Day to day aclminislralion Is c&irkd by the Trusvs solicllor8. Rlek Management The Tiuslee8 have assessed the major risks to whlch the Trust is exposed. in parlicu18r those relal8d lo th6 opgialions and financ8s ol the Tiusl.and are satiBfi'8d that systems 8r8 in place lo mituale our exposure b thg rnalor r15ks. Charllabla purpos•5 The objèct ol the Twsl as strt out In1ts Trust De8d Is the payment Df grants lo resldents ol Dundee who, througli sickness or olhetwSse, 8re In need ol finanual help. Achlevemehts and p8rformance The IIu5tep.8. through Ihelr Solkltors, Llndsays LLP, Caledonlan Exchango,19A Cdnning Slreel, Edhburgh adrnlnlster the funds held by Ihom, collect Inoome and n78ke payments of giahls or such bgnell¢iarle5 as apply lo thom lorassislance 8nd f811 wllhln the lerms ol the Trust. No lund raising 18 c8rried on. Trustee romuiieratlon And expen888 A lee Is pald Irom Ilme to lime lo Ihe Tru8t'8 Sollcllors. olwhom Kirsly Preston Is a paFlner. 2026-£171012025- E 16621. Th& Irusle8s r8celve no remuneration and are pald no bxpens8&, Res90$ Pollcy The ieseNes of the Trust or[nate from gslales of Ihe late Miss18ab8lla aiid Elliabelh Mudie together with the growth In value ol Invesiment8. The Iruslees have opted a reseNes pollcy Ihal ensui&s ihe contlnulng ability ul Ihe Tiusl lo Ineel its oblecllve5. Elalance5 are ietèlned pilrn8rlly lo me&1 requests lor financial assistance. The level ol total fuii(Is al 31 March 2026 was £ 84,1471202Jf £ 81,3391
Fulure Stratègy The Iru5toes are looking al ways of increasing the numberof bEneflciaiies. The liiiancial position Dl11)e Trust is as di5dosed In the accounts. The Trust is a charlly and Is roGognl8Éd as su¢h by the Inland RevBnu6 lor taxation purposes Thg Inland Revenue ohaiity number Is SC014030. A$ a rè5ulI there Is no IFobllity to laK81ion on any of the Tru8t Incom8. Ap)Yoved by Ilie Tiuslovs and slgi)ed on their behatf by Kir81y Preston Trustee Dale I,kn Y)STriiJ 7 1(ili 7LtrS il_leknlLOL
Accouryl foi'yeai to 31 slmarcli 2026 CAPIT Credli balance al the clo860f Illst ic¢ount G#in on IralisAtion of iDveslmeiils 67,250.46 25.38 4,919.13 72,194.97 rJediict'.- AdJnliii8lrutitstt 8xp¢nJe$(Indcpcnd¢nt Examincr$ Fcc 2025) Adinini%tr&tion Exp¢iisr¥(QEneral) Tnvesim¢nt M*n82ementFx Aienls, CApilal FB¢s 12S.00 20.00 1,200,00 570,00 1,915.00 Citdit b&lance at th¢ closL of Ihls IOunt ofwhicli, IDvtgtm¢nts at m&rketvAlue.'. 70,279.97 77,890.00 Balgn¢e over-it)vesled {7,6IO.031 BNUE Credit Artd:. balance attho c105e of lastcount )vestment inctsthe 14.089.19 2,767.95 16,857.14 Dedu¢t..- P#ymenly lo BeneficiAries Ag£nts' R¢v¢nii¢ Fe¢9 1,250.00 1,140.00 2,390.(XJ Credlt b&lattce 8tthe olose ofthls a¢¢ouni 14,467.14 6,857.11 Rapiwented by.. Lindsays Funds Ratlibongs 6,526.59 0.00 J30.52 Capital In¢orti¢ 0.857.11
Isgb8 d Elizabelli ie TIu81 Receipts & Payment AccoLinl lor th8 year lo 31 March 2028 2026 2025 Reoeip16 Inveslmgnl Incomg Capllal Recelpls 2,767.9S 2,788.06 0.00 2,767.95 2,786.06 Pro¢ee(ts from 8ale of Inveslmenls 419,51 682.84 Total RwSpt8 3,167.48 3,478.70 Paym8nls Charilabl8 Donations Admini81ralion Exp8n8e8 Inve8lmenl IAanagemenl ExpenseB Agènt's Fee 1,260,00 145.00 1,200.00 fj.710.00 1.260.00 126.00 1.200.00 1,ee2.80 4.305.00 0,00 4,237,60 0.00 PurGhaseslln¢ equallsallonsl 4,305.00 4.237.60 Surplus I Idellclll for yeor 1fj.117.541 1768.901
Isab811a an(* Ellzabelh Mud e Trust Recelpl8 & Payment Account lor the yaar lo 31 March 2026 2Q26 2025 Investmen18 Openlng tr)a18nce Sal98 Purchasgslln¢, 8quallsallonl Galn I Ilossl on sBle8 Incr8as8lD8crea881 in unioalls8d appreGlallon 73,3es.00 (419.511 0.00 25.38 4.919.13 74,298.00 16&2.641 14.64 125Jr.001 Market Vallle as al 31 Mar¢h 202e 77,890.00 73,36b.(Kl Bank and Cash In hand OpanSng bBlance8 Lindsays Ralhbones 7,214.77 759,B8 7,868.14 88B.41 7,974.65 1fj,117.$41 8,733.55 1758,901 add: Surplus I Idellcill Closlng balance 8,857.11 7.974.66 Repre8enled by.. Lind8ay3 Fund8 R8lhbon8S 6.526.69 330.62 7.214.77 759.8B 6.857.11 7,974.65 I fund8 are unr081r16d. Approwed by tho Truèteea and 81gned on Ihelr behalf Slgn8d Dale
Appendlces InYtlm¢nl Ilicomc Rfflh&oJiiiMiiiilAsieith'ptÉglclJJe 01-Aw2025 Dprideiidon 65750 D2-Mrtr2n2S DiYidEiidan65750 02Jun-20?5 Djvid¢ndoA 65750 1-.1I11-2n2J Divlthrtdoft 65750 01-Aiig-2023 65750 29-AM8-202S DIvClid0rt0s?5o 142.41 182,42 182,42 31-Od-?.025 Dlvld¢hdoiiOJ750 28-Nov-2025 Dividcndoii 05150 31-D¢o-2025 DiVId)d oji 651SO 68fj.01 149.01 27-Jleb-2020 DIYer1d UTr648CNI filhbp1lTrjI1S 254vh-2015 GrDiglrlBr051 25-Sep.2025 Qros$lnl¢r&%t I2-Dl035 Omss IrfQMSt 26-Mir-2026 0rossllltero5t D.Gl 03 0.22 014IlQ023 PRyinoil in licuofpll¥AioleXI due fu'llKpuiod 01102122 a 3010&tt025 -noi-2025 Paymtnl w liwoftsli&il s10¥(0 04102U2M 49.V6 OfjJ2nkn2026 PayiKiii kn15¢lirrlEnllrt3ldlIo rol'l ypxi4dO4103J2251¥1 3111212025 31-Msr-2026 PAyinenl I11lEeiiof¢lKrtiirtWuikn4 hrlpoiqod 01102122 iiid 31103no26 3B.3• 3&20 2 y07.gs
APp0nd Revoiiub nyMo1111 ?AymÈKI$ ID kleRonthirl¢$ 01.Stp-2025 A$801]41 A Edwlrds 02-MÈr-2026 Mi51 Uillipn A EdwArdy 250.00 Ql.%¢p-?02S Mi&M H K4iiredy ?..12D Mis HKeiliieJy 125.(¥) 125.00 2$0.00 l.*p.2025 il OrBy 02-M6r-2026 MYsMaryR 125.fy) 121.IKJ 250.00 01-gep-2025 Dobri Fur&y 02.M4r-2D25 Debr&Vurey 125,(h) 25Q,OD 01-%Èp-1025 hMMIGaiildrl¢k 02-mo2026 Ab)nMtODiJdrlok 129.(X) 125.00 210.tIO 1150.0 ZQ-Mo1-2026 Lludsw f¢¢ forA(knlhisbrtioTr lhei1roryoIrtth10. 95DffjO 2Q-Mir-2D16 V31 It2
Appondl CRplllllFiiymDllls ?I-MNy-2025 Mlchiol M#v4vkkèkftiMl4i1Qtt fÈ¢ MrW35 24-Sop.2025 ofscoilqnd iUDLiOI'D ofAs5lNnpili & RESIttl1 125.(K) 20.00 145. InVO&tmontMAnftaoM?ul Fees o6-Api-.2j RBUibDrtsMfftiiuyiKHt fe OL-Jiil-2025 11gllibDi%i Man6ll¢jr*l DI¢1.225 IiDllibortgMaiI7uIFEts 0148n.26 Ryihbois 300.OD aoo.00 JOO,OD 300.00 120000 10-Mir-2026 1.ttstLqAp fell kn.Idmlthsirntion uful¢tnlrQrYEwdBth, 475.00 95.00 57O.OD IQU-?026 Vwl At2U%
NOTES 1 The Inv98thenls arg In the ac¢ounl al valu8110n. 2 Incom8 from Inv88lm8n1818 ¢Yedlled lo the Inc%)mo and EKpendHure aceounl the yeor In whS¢1111 le recelved. 3 No Commlilee Member recelved any remunerallon during th8 period12025 none).
In(Ièp8ndÈnt Ex8MInar Rgportto Ihe Tru8tee8 of Ltsabolla aiid EllzabElh Mud19 Trust I report on Ihd acwunls of th8 Gh&rlly lor the porlod Ènded 31st March 2020 The ImtsleB& arfj regponÈllAÉ lor lh8 preparalTron of Ihè CoUnt8 In accord¢& th Ihg l¢rm$ of th8 Charlllas and Trustee Invesiinent IScolL9ndl Acl 2005 9nd the Charllies AccDunl8 Isrollandl Reoulallons 2006. The thaiity Iwsieèg ton$4der IhBI IhB audll requliemenl of R8gul8lKJn 10111 Id) Df IlieAcwuTl¥ Regulallons doès not apply, Illy my reepon91bl1Y lo examlne Ihe &¢counts as raqulred uiidersecllon 441llcl of Ihp Act&nd to 8l&le whBiher pB[UDumalIr8 hava wme io my aitenllon. My 8Kamlnallon18 Corr4ed wl accord& wllh RegLilyUon 11 of the Chorlllg8 A¢¢ounls IS¢olLgndl Regulalbns 2006. An 8Xgmlnallon in¢lude$ ) revie¥v of the 8cwunbrwJ records kept by Eh6 tharlly tnd a wmp4ri5on olllie accounts pre$bnléd th thos& iecords, 11 also Includes conslderallon of any n&all10m5 or d16do8ur8È In lh& a¢cDunls, and seeks 6KFlanallon$ from Iha Irusleeg concgmlng 8ny such m2ltaiÈ. The proctydures undertaken do n41 provlde all the bvlden¢e th81 woukl b8 requlred In an audll. and conseqiienlly I do not exprè59 sn audll oplnlon on thè vkw ulvan by IhÈ acewnts. In Ihe Gours8 of my exèNlnatlDn, no mjlter has come to my 8ltenllDn 1 wNch 9Iv85 m8 r8asonablo cause lo b8118ve Ihal In any malerlal r¥$pecl Iha requlrernenl9', lol lo kéep a¢Unth9 recordÈ h ae¢Ord¥ncelh Seellon 44lfl lal oflho 2005 Aotand Reguhlk)n 4 o¢lho 2006 A¢couAt8 Ragulatlons, and Ibl lo prepare 8ccounl8 whKh accord wrfh Ihè 3GGDunllng rBcoid8 and 00mplyh Regulullon 9 of thè 2000 A¢counls RegulalFons how8 not been m81. or 2 to whlch, In ry ophlon, att8nUon shoUd be diawn In ord8r to ongble a proper undgr¥landlnD of the accoun181o b8 iÈaGhBd. Mlcha81 MaNAck Indepèndertl E%amln8r R81lredAccriTrlanI 3111 North VVerb8r Park Edlnburgh EH418Y Zo2