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|Contents|PageNo.|
|---|---|
|Report ofthe Trustees|an<br>J-4t|
|StatementofReceipts and Payments|5|
|StatementofBalances|6|
|NotestotheAccounts|7-8|
|Reportof theIndependentExaminer|9|





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|A-Statementof ReceiptsandPayments<br>FortheYearto 31March2026|||
|---|---|---|
||Yearto|Yearto|
||fls.2426|31.3.2025|
|RECEIPTS-Operatingincome|f|f,|
|IncomefromInvestments|||
|Interest onBankDeposits|1l|t4|
|Interest onGovernmentSecurities|79|67|
|InterestfromFixedInterest Funds|219|199|
|Dividendsfrom EquityInvestments|975|r,149|
|Sub-total|1.284|1"429|
|RECEIPTS- Relating to investmentmovements|||
|SaleofInvestments|503|2.318|
|Sub-total|503|2.318|
|TotalReceipts|1.787|<br>3.747|
|PAYMENTS-Operatingexpenses|||
|InvestmentManagementcharge|(100)|(100)|
|Scholarship Grants|(2.000)|(1.000)|
|Sub-total|(2.I00)|fi.100)|
|PAYMENTS-Relating to investrnentmovements|||
|PurchaseofInvestments|0|(2.307',,|
|Sutr-total|0|(2.307].|
|TotalPayments|(2.100)|(3"407)|
|NET RECEIPTSLESSPAYMENTS|(313)|340|





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|The JohnMacleanScholarshipTrust<br>B-StatementofBalances|||
|---|---|---|
||Asat|Asat|
||31.3.2$26<br>t|31.3.2025<br>f|
|CASH FUNDS|||
|Cash andBankBalances at startofyear|1,075|73s|
|Netreceiptslesspayments shown above|(313)|340|
|Cashand BankBalancesatendof Year|762|1.075|
|INVESTMENTS|||
|UKGovernmentSecurities|2,262|2,207|
|BondFunds|5,614|5,633|
|uK&GlobalEquityFunds|34"937|28^374|
|Totallnvestment Funds|42.813|36,214|
|TOTALASSETS|43,575|<br>37.289|



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|3<br>Analysis ofmajorfunds|||
|---|---|---|
||Asat|Asat|
||31.3.2026|31.3.2025|
||f.|f.|
|RESTRICTEDFUNDS|||
|Capital Fund-Originalbequest|3.000|3.000|
|UNRE,STRICTED FT'}{DS|||
|AccumulatedRevenueFund|||
|Cumulativebalancebrought forward|34,289|31,995|
|OperatingReceipts|1,284|1.429|
|OperatingExpenses|(2.100)|0.r00)|
|OperatingSurplus(Deficit)foryear|(8r6)|329|
|Gain (Loss) oninvestrnents*current year(Note4)|7^t02|t.96s|
|Cumulativebalancecarried forward|40.575|34.289|
|TotalFunds|43.575|37,289|





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|4<br>MovementonInvest|ments|||||||
|---|---|---|---|---|---|---|---|
|||Market||||Changes|Market|
||Orig|Valueat|Purchases||Sales|in Market|Valueat|
||Cost<br>T|1.4.25<br>I|at|Cost*<br>f|Proceeds*<br>{|Value<br>T|31.3.26<br>f|
|UrGqverylnellBards<br>4.125yoTreasuryI/LStock2030|2,304|2,207||||55|2,262|
|BondFunds&lndex-l,inkedSecurities||||||||
|CTSterlingCorpBond<br>Abrdn GloballzlBond|3,632<br>2.429|3,425<br>2,208||||I<br>(20)|3,426<br>2^188|
|Uli/GlobalEquity&'Ir<br>unds<br>MurrayInternationalTrust<br>City ofLondon<br>SarasinlnvestmentFundsIntl<br>ArtemisGlobalIncomeIlnc(l)|3,055<br>3,971<br>2,664<br>4,822|7,2A5<br>6,44t<br>5,657<br>9,07t|||(503)|2,076<br>1??(<br>79<br>3,686|9,281<br>7,666<br>s"233<br>12,757|
|||36.211||0|( s03)|7.102|42.813|



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