Charlty reglslralion number.. SC014992
The Meikle and Paton Fund
Annu81 Roport and Financial Slalements
for the Year Ended 31 December 2024

The Melkle and Paton Fund
Contents
Trustees. Repart
1105
Independent Examherfs Report
Stal8m&nl of Flnancl81 Activilias
Balance Sheet
Notes lo Ihg Financial Slatemenis
9t015

The Melklo and Paton Fund
Trustees, Report
The Irustses present the annual report loggther wllh tha financial 51atements of the ¢harity for the year
ended 310ocembèr 2024. The trustees havg adopted tho provlsions of A¢¢ounling on(1 Reporting by
Ch8rlties- stsiamenl of Rfjcommended Practice applicablts lo ¢h8rilio5 pr¢paring Ihelr accounts in
acccfdance with the Financlal Reporlsng Standard applicable in the UK Republic ol Ireland
{FRS102) leffeclive 1 January 2019)-
Objectlvès and acllvS11•¥
Objects and olms
The Trusfs objectives arè lo provide for the cost of malntenance and Irealmgnl of Prote¥lanl minist8r8.
mlsslonaries and Chris118n workers and othars engaged in suchwork at estsbllshmenls owned by Crieff
Hydro Limited or its ￿ollY owned $ubskllarig5.
The Charit1$ truste68 expend Ihe income generated in each year in aCC￿dar£8 with tha Obl￿tiveS ol
Charily 88 expressed in lh8 Ccrtliluilon.
In ordgr to achieve this. lh8 Ifuslees provide a subsidy lo suitsbly qualiligd applicants vrishing lo slay al
an eslabllshmenl own8d by Crieff Hydro. The level of SLbs•Jy is ￿vieWed regularly 10 ty to ensure Ihal
there is neither an overspend nor 0 5wJnificanl undersFend of Ihe Twst's Sncomg in any year.
Grants we awardod In continuan¢• of Iho objèct of th• Tfusl 10 5Uit8ble qualified applicants. Tho
trustees will u88 Iheir dlscret&)n to allocate funds rf there is an exce88 of demand ￿ the funds.
Achl•v¢ments and pèrformance
Durfng lh9 year the charity provldéd a nightly accommodali(m subsldy I'lhe sub3idy"I to qualifying
appI￿ants wlshlng io stsy al an estsbllshment owned by Crierf Hydro Limlled.
Payments of ihe subsidy to beneficiaries durfng tr)e year amc*unled lo £70.922 (2023.. £27.382)-
Th¢ Irustees have movgd towards reslorirYJ the payments lo beneficiaries to more typlcal levelg and
have increasfjd th• amount of and numbers ol grants during 2024. They ore oclively looking al ways
in which Ihey can expand their current Frf)ol ol recipienis and are moniloring the level of the subsidy lo
en￿8 that il encourages participation by all &ligible recipienls. They have also inilialgd a relreal for
newly ordained ministers which will lake place in Febiuary 2025 to help expand awareness ol th8 fund.
Th8 trusts85 continue lo rnonilor the applicalion process with regards lo the tfust meellng Ihg needs of
a charily in the 21st century whilst having regard lo th6 original inl8nlions of Ihe 5elllors.
Flnanclal rgvl•w
Thg flnanclal P￿ill0n ol Ihe IrLIS1 is sel out in the attached acceunts.
Pollcy on resarves
The iruslees have previously 50Ughtto hold unre8lricled re¥orve8 equivalont Io 8pproximaldy Iwo years
planned expendIlu￿ which was assèssed as bèing £60,000 p&r annum. Th8 unrestrictad reserve5 01
the end of the year of £157.828 {2023'. £180,1121 whth is in exc8ss of current requlremenls.
Pag8 1

Funds in dellcll
There arn no funds In d8flclL
Investmentpollcy and objecfives
The trustee8 have taken steps lo opllmlse the nel income for delivery ol charilable benefit in lemis of
the Constitution and, in Ihls regard, they afe building 8 resèrve of awued revenu8 to meet their
commitrnenls In the event of réduced incom8 lo Ihe TNSI. They are mind￿1 Ihal they are dependent
upon thè Trust inveslménis lor that in¢c4ne. inclurjlng a signlficanl prlyate shareholding in Crieff H￿r0
Ltd.
They are aware of ther oLligati￿ in regard to th& Tru8t investments as Said down by the law and will
continue lo review the perforrnAnce ol the portlolio under management by B8rclays Wèalth and also
monitor Ihe shareholding in Crigff Hydro Ltd as a $ource of hcomè lo the Charity-
structur•, govemancè and managom8nl
Nature of govemlng do¢umént
The Meikle and Paton Fund {fomiety the Palon Fund} is a Scotllsh ur4neA)rpor8led Ch￿table entity
{SC0149921 esl8blished l￿dÈr a Deèd ol Trust dated 14 February 1910 and registered on 20 December
1919. The original 08ed of Trust was amendèd under the lerm3 of the Charitiès and Trustees
Ilnveslmonls) scO￿and A¢1 2005 with Ihe approval of the Office of the Scot¢igh Charity Regul8lor and
as detailed in the Minutes by the Trustees dated 23rd March 2010 and 21st April 2016. Orignally known
as the Paton Fund, a rt8dulb)n by the trugle8s gffeeling a change of n3rn8 ol the Charity lo the Meikle
ond Paton Fund was passed on 20th IAay 2010 and subsèouenlly approvèd by the office of Ihe Scottish
Charily Regulator.
RKrulthient andappointment of tIV8tees
In the event of a trustee rgtiring, suitable replacements ar8 sought from Ihe ralègory ol the retifing
tNstfres in the first instsnco lo allernpl lo mainlain the balance of the trustèes. Retiring and remalnlng
trusteès 8ugge$l Sullable re￿aCementS who are then all duly considered prior lo an appoinlmenl being
madg. The 6xisling trustees wlll provide prospecllve and new Iwstees vdth informati￿ UP￿ the char￿Y
and an inducuon bTl8f upon their dulSes as a charlty Iruslee.
Inductlon and training of Irust#¢$
The aims, ci)jecltves 8nd curreni actfvill83 of the Ghartly are fulty explained lo new tNslees and they
are made Aware of the requlremenls Gonlained in the ScottKsh Charity Regulalor's Guidance.. Guidance
for charity trusl68s.
Organl$atlonalstru¢thx•
The trus1é88 meel fom*lly twlce per annum. Th8 Trust's stocknroker and accountsnt have also been
in attendance lo give reports and offer profossional advice.
Dèclsions are taken al trustees. meelwigs ty simple majority.
The day ID day Adminislralion ofthe Charity h been undertaken by
Iruslees would like lo èxpress th&T thanks to
or his efforts.
a trustee. The other
Page 2

The M¢lkle and Paton Fund
Trust8es' Report
Relatlonshlps wlth r¥lat￿ partlos
Cfleff Hydro Ltd
The truslees con51der Crbff Hydro Lld lo be a related party due lo th¢ slgnificance and incidence of the
Iransaclions bolween the enlili85 and Iha inclusion among Ihe Irusle8s ol the Chi&1 Executive ol Crieff
Hydio Lld. TransaGlions be￿￿en Crieff Hydro Lld and ihe Trusi ale 8$ governed and pem)illed by Ihe
eonslilulion of tha Charty.
Alajorrlsks and management ol those rtsks
Rlsk Man8gem8nl
The INstoe$ havo o duty lo identify and revlew tho risks to which the charily is axposed and lo ensure
appropriale ¢onlfols are in place lo providg masonablè assurance against fraud and error.
Thg Iru51ees consider varlabilily of Inveslmenl returns on Ihe endowment fund lo conslilule the Charity's
major financial iisk. In order lo ameliorate Ihe risk, the trustees have employod an investment manager
on a discretionary b8sis with instructions lo malnlaln th¢ eapilal whilst generating sufficient income to
meet th8 ongoing charitable needs.
The other major oporallon81 risk relate6 10 fraud In r*sp8cl of application8 m8de to the Trust. The
Iruslees aro conslanuy monllorlng the sltuatlon with regard lo ensuring that all 8ppll¢allons are madg
from bon8 fide Prolestsnl mlnlslers. mi$slonaries and Chrlstlan workers.
The idtrnlifi¢alion and a5505smenl ol risks lo which Ihe Charlty may b• Mposed will be cOnd￿ted on
an on90in9 basis by Ihe truslees.
Pa9e 3

The Melkle and Paton Fund
Trustee8' Report
Refer•nu and Adminl$tratlve Detslls
Charlty Registration Number:
SC014992
Trustees-
Prln¢lpal Offico:
Muldankh
Sliiling Str891
Blacklord
Perlhshir&
PH4 1QG
Indepèndent Examinèr:
Morris & Young
Charlered AG¢ounlanl$
6 Alholl Crescent
Perth
PH1 SJN
Page 4

The Melkle and Paton Fund
Trustees. Report
Statoment of Ro¥ponslblll¢lety
Law applicable lo charliies in Scotland requlras Ihe Iruslees lo prepare an annual report and accounts
for eath financlal year which give a tru8 and lair vi8w ol th8 charlly's finandal activlues duflng th8 year
and of ils financi81 posillon al the end of tho year. The trustee¥ ar6 responsble for preparlng Ihe annual
report and thè financial slAlemen15 in 8ccardance with applicabl& law ond United Kingdom Genefally
Accepted Accounllng Pr*ice IUK GA4P).
In preparing those accounts, glvlrvJ a true and lair view. the trusloes should follow b6$1 practi¢è and:
sete¢l ￿lIable 8ccounliNJ polic198 and Ihon ap￿Y them conslslenlly;
- mako jud9ements and eslimales thal are reasonable and Pfudenl,.
- stale whether spplSc8ble acc(￿ntIng standard5 and 51alemonts of recommended practkg hBvo beori
followed. subje¢t io any departures dl$clos&l and ex]￿aIned in lh8 a¢counls,'
-prep8r8 Ihg accounts on a going concem basis unless 11 Is Inapproprlate to prèsume th8 charity wlll
continua In operation.
The Irusteos are responsible for keeping accounts'ng records which disclose wilh reasonable accuracy
the financial position ol Ihe tharity and which enable il lo ensure Ihal the accounts comply wilh Ihe
Charities and Tru51eo Inveslmerbl Isebtlandl Act 2005, Ihe Charitles Awunis IS¢oVandl Regulalions
2006 and the conslitulion. They are a150 respo￿ltyle lor safeguarding Ihe 8ssals ol the charily and
hence lor tsking reasonablg sleps for the prevention and deleclion offraud and other Irregularities.
The annual report was approved by Ihe truslees of the charity orn 29 May 2025 and signed on 11$ behalf
by..
Pag8 5

The Melkle and Paton Fund
Independent Examlner's Report to the trustees of The Melkle and Palon Fund
I report on thè accounts of the charity for tha year 8nded310g¢¢mber 2024 whlch 81¢ 601 out on pages
71015.
Respective re$ponsibllitSes of Irusteeo and éxamlner
The charity's Iruslees are responsible for Ihe preparation of the accounts In accordance with the lems
of the Charities and TTuslee Investment Iswllandl Acl 2005 and the Charikn'es Accounts (scollar￿)
Regulations 2006. The ¢harlty'8 Iruglees conssder that the audit requirement of R8gul81ion 1011 Ila) lo
Ic} of the Accounts Regulalions dee8 not apply. 11 is my responslbllily to examlne the accounts BS
required under Socllon 4411){cl of the Ad And to state whèthér partkul¥ mallers havé come to my
attentS0n.
Bas1$ of th• Indèp•ndont axaffllnèrf8 r•port
My examination was carfied out In accordance wlth Regulalion 11 of the Charilles Accounts {SGoUandl
Regulatlorbs 2006. An examlnallcffi Includes 8 review ol the accountin9 records kept by Ihe charity and
a comparison of Ihe accounts presented with Ihos8 records. 118lso indudes Gonsideratron ol any
unusual ilems ordisclosures in the accounts, andse&king explanations from you os Iruslees concerning
any such matters. Th8 wocedures und8rlak8n do not provide all the evidèncè thAI would be required
In an audit, and consequènlly I do not express an ￿111 opinbn on th8 Vlaw glven by Ihe acwunls.
Indep•nd&nt oxamlngr'8 8t•tem•nt
In connection with my 8xaminalion, no maller has ceme lo my allenlion..
11 I whth gives mè reAsonable causg to be116ve that, In any maltrial respecl, the r8qulroments
io ke&p accountlng records in accordance with Soclion 44111181 ol the 2005 Act and Re9ulalion 4 01
the 2008 Accounts Regulallons: and - lo prepare aGcounls whKh accord wlh the accLwnling le￿rdS
and lo ￿mplY with Regulation 8 of the 2006 Accounts Regulations
have not been met: or
(21 lo whiGh, in my Opin￿n. allenlion shLwld be drawn in order lo enable a proper understandwig of the
accounts to be rgached.
orris
oung
Chartered Accountants
6 Aiholl Crescent
Perlh
PH1 SJN
Dale:
13106r2025
Page S

The Melkle and Paton Fund
Statement of Financial Activftles for the Year Ended 31 December 2024
Total
Total
2024
2023
Unrnstrfcted Endowment
Note
Incom• and
Endowm•nt5 from:
Invéslment in¢ome
59.248
59,246
54,124
Ex￿ndItUr* on:
Raising fund5
Charitabl& activlties
15.381)
176.1491
15.381)
{5,1511
30.6121
Tolal Expendilur
G8ins1105ses on invgslmenl
assels
81530
35.7631
100 927
Net movement In lund5
(22.284)
70,924
48.640
119,288
R•conclllatlon of funds
Total Ivnds broLFghl lo￿ard
Total funds earned forbvar(1 12
180 112
2 587 285
2 767 397
2648 109
157 828
2 658 209
2 816,037
2 767 397
Atl of the charity's acliviltes derive from continuing operal•)ng durin9 the *)ovè period¥.
The notes on kmges 9 10 16 fomi an integral parl of ihese finan¢ial slalemonts.
Page 7

The Melkle and Paton Fund
(Registratlon number: SC014992)
Balance Sheet as at 31 Decembor 2024
2024
2023
N¢ta
Flxod assets
Investm￿1$
2,659,493
2.588,569
Current *$set$
Prepayments
Cash al b8th and in hand
4,9SO
160.836
10
183,430
Créditors. Amounts falllng duo wlthln ¢)ne y•ar
14,60_2)
Not curranl assots
178 828
Net ass•l$
2816037
2 767 397
Funds of Ihe charlty..
endowment funds
2.658.209
2￿87,285
Unrè8lrfcted Ineomè funds
Unrestricled funds
157 828
180.11_2
Total fijnds
13
2816 037
2 767 397
The financial stalements ijn pages 7 10 15 were approved by the Iru$t88s and author15ed lor issue on
29 May 2025 and signed on Iheir behalf by..
The noles on pages 9 10 16 form an Iniegral part of Ihese finanaal alalements.
Poge 8

The Melkle and Paton Fund
Notes to the Financlal Statements for the Year Ended 31 December 2024
1 Ac¢ountlng pollcl•s
ststgrnont of compllanct
The financlal slalem8nts hav8 beon prepared In accc*darKe wllh Aocounllng and Rewtlng by
Charities,. Statsm8nl ol Recomm6nd&Y PraGIIc8 appli¢ablB lo Gharllles preparlng their accoLtnls In
accordance wllh the Financial Reporting SlarKlard applicable in the UK and Republic of Ireland IFRS
1021 {effecllve 1 January 20191 Icharities SORP IFRS 102)), the Financial Reporling Standard
appllcable in lh2 UK and Republicof Ireland IFRS 1021. the Charlliès and Trustee Inv8slmenl (Scolland)
Act 2005 and Ihe Ch8ri1i8s Accounts (Scotlandl Regulations 2006 (as amend6dl.
8asls of preparatlon
The ￿e1￿Je and Paton Fund moets the dèfinitlon of a publi¢ benefll enlity uftdèr FRS 102. The financial
statements have been prepared under the hisloric cost convention wlh the exceplion of inveslmen15
which ar• includgd al markot value. as modified by the revalualion of certain assets.
Golng concern
The Irustges consid•r thal thère are no maierlal uncertainllgs about the charitlg 8blllty lo ¢ontinuè as
a going concam.
Income and •ndowm•nts
JI income is recognlsed wi the Sialernenl of Financial Aclivilies once the charity has enlillem9nl lo the
funds. il Is probable that Ihe income will be received and the am¢JJnl can bg rneasured reli8bly.
Inveslment incomè
Inleresl on funds held on deposK ts in¢lwled when receivab16 and th8 amount can b8 rneasurgd rdiably
by lh8 ch8dly' this is normally upon nolificalion of tho Interosl pald or payable by th¢ bank. Olvldends
ar8 recognlsed once the dlvidend has be¢n declared and nollfialion has bpèn rec85v8d of the dlvld8nd
due.
Exp6ndlturè
All expendilure 18 recognised once Ihore is a legal or constructive obligation. il is probable selllemenl is
requlred and the amount can be rn8£sured iellably. Al cost5 are alk)caled lo the applicable expendilure
heading Ihal aggregaie simllar costs lo Ihat calegory. Where costs cannot be direcuy alliibuled to
particular headings Ihey have beon alk)caled on a basis consislenl wilh the use ol re$our¢•s.
Ralslng funds
Those arg costs incurred in allracb'ng voluntary income. Ihe management of Inveslmenls and Ih05e
incurred in tradin9 actNIUe5 that ralse funds.
Gront expendllure
Grants payable are char9ed lo the year when th• grant approved by the Irustoes 15 uncondilionBIIy
commilted lo the fecipi&AI.
Page 9

The Melkle and Paton Fund
Notes to the Flnancial Statements for the Year Ended 31 Décember 2024
1 Accountlng polScles (contlnuod)
Governan¢• costs
Thes8 include the ¢osl$ 8llrfbulablg lo tho charlty's ¢omplian¢6 with conslltul10n￿ and slatulory
requiremenls. Includlng audll, slralegte management and Irusleés, meellngs and ielmbursed expenses.
TaxatlDn
The charily Is gxgmpl Irom lax on its charit**le activltie5.
Flx•d assel Invèslment$
Fixed assel Invgslrnonls, other than programme related inveslmenls, are included al m8rket value at
the balanee sheel dalg. Rè8lisÈd galns #nd losses on Snv8Stments a￿ calculated as Iha drfference
betW88n salos prctaeds and their market valu8 al Iho start of the yoar. or Iheii S￿bsequent C051, and
are charged or credited io Ihe Slalemenl ol Financi81 Acliviiies in the period of disposal.
Unrfyalised gains ttnd1088es reprasènl th& movam9nt In markol value6 durfng th• y8Af 8nd ar8 u8dl￿d
or charged lo the Slalèrnont of Flnanclal ActfvliNgs based on tha markgl valu8 al the y8ar end.
Cash and Cash equlv4l•nts
Cash and eash oqulvalonls comprf99 cash on hand end c811 rfeposits, and other short-lerm hlghty Ilquld
investments Ih818re roadily convemlble lo a known 8mounl of Gash arwj are subjeGI lo an insignifiG8nl
risk of chango In value.
Fund structure
Unreslricied income funds are general lunds that ar8 availat4e for uae 8t the trustees. discretion in
fUrthera￿e of Ihe objectives of Ihe chtrly.
Endowm8nl funds are held on Irusl to be rotain8d for Ihe ben8fil of Ihe charity as a ¢apllal knd. All
tndewment fvnds are permanent end04vmenls and lh8 Iruslees must maintain the whole of lh¢ fund In
perp91ulty.
pa￿ 10

The Melkle and Paton Fund
Notes to the Flnancial Statements for the Ygar Ended 31 DeGember 2024
2 Investment In¢ome
Total
2024
Total
2023
Gen¢ral
Income from ¢Jfvidends',
Dlvldends receivable from other Ilsled
Inveslnwn15
Interest r￿91Vable and slmllar In￿rne:
Interest receivable on bank dgposits
57.190
57,190
52,718
2.056
3 Ewndlture on ralslng fund•
Total
2024
Total
2023
G¢nwal
Olh8r inveslmenl managemonl ¢osts',
Amounts payable lo investment managers
5,151
4 Expendlture On charhablo 4CtlvStl¢$
Tolal
2024
Total
2023
Ggnoral
Grant fvNJlng of activllies
Gov8rnanc8 costs
70.922
70.922
5.227
27.382
3.23Q
Page 11

The Meikle and Paton Fund
Notes to the Flnanclal Statements for Ihe Year Ended 31 December2024
S Anily8ls of 9overn#nc• and support costs
Govèrnane• co$ls
Total
2024
Total
2023
Ggneral
IrKlgp8ndenl examlner f888
Examination of the financlal stalements
630
Legal fees
Secretarial co$lS
Accountancy foos
Other
1,300
200
3.000
43
1,300
200
3.000
43
200
2,400
6 Trusteos. remuneratlon and expenses
2 Ifuslee. 15 a partner of knndsays LLP whlch rec8ivad £1,300 (2023.. £r¥l) for legd 8dvl¢o
during tha ygar.
No Iwslees havé recefved any rélmbursed expenses froTh ihe char6ty during Ihe year.
7 Taxatlon
The charity Is 8 regi$t8rad charity and is Ih8rèfor8 ex6mpl from laxatlon.
Page 12

The Melkle and Paton Fund
Notes to the Financlal Statements for the Year Ended 31 DeGember 2024
8 Flxtd assèt Investments
2024
2023
Oth•f Investmenls
2 659 493
2 588 $69
oth•r Inv•stm•nts
Ll$tgd
Invo$tm•nt#
Unllsled
Inv051ments
Total
Cost or Valuollon
Al 1 January 2024
Revaluation
1,778.569
810,CIJO
2.588.569
Al 31 December 2024
1,849,493
2 659,493
Net book valu•
At 31 December 2024
1849 493
2 659 493
Al 31 December 2023
1778,569
810 000
2.588 569
As a131 December 2024, the Charity's Investments comprSsod 1,363,933.05 12023.. 1.363.933.051
sh3res In the 8ardays Charily Fund and 810.000 (2023: 810,OQOI shares Sn Crleff Hydro Ltd.
The orvJinal cost of the shares wi 8arcLqys Charity Fund was £1,439.83412023: £1.439.8341.
The original cost of Ihe 8h8res In Crieff Hydro Ltd wos t21.938.
Page 13

The Melkle and Paton Fund
Notes to the Flnancial Statements for the Year Ended 31 December 2024
9 Gash and ¢ash •q¥JSval•nts
2024
2023
Cash al bank
183,430
10 Prepayrntnts
2024
2023
Deposil paid (or 2025 Mlnl8lers' relreal
11 Credilorn: amounts falling due wlthln one year
2024
2023
Other crgdilor6
4.602
12 Fund$
Oth•r 8•lance al
Incomlng R•sourcos
ro¢ogni$¢d 31 O•ctsmbor
resources
expended galnsl{l¢ss•$
2024
Balanc6 al 1
January 2024
Unrestrlcted
Genwal
180.112
59,246
{81,5301
157.828
Endowment
Pern￿nent
2 587,285_
2,658,209
2.816 037
Total funds
2.767 397
815301
70.924
Thè Endowment Fund was asiabllsh8d by inllial gifts from
Th8 gifts wère made lo the charity on condition Ihal they are held as
permanenl endowmenl. th8 Inccme from whlch Is freely 8vallable to fvnd I￿ actlvltles of the Ghgrity.
Upon 8 winding up of lh& trust. lh8 initial gift from
hich comprises 36.1Y(*
of the 10131 endDwmenl fund is lo be p￿d io the United Free Church ol Scolland or whatever
denomination or ly)dy of Chrislians with which Ihe United Flee Church of Scotland may hereafter
incorporaled or am81g8maled for the loreign missions of said Church.
U￿n a wnding up ot the TN81, thé Inil*l glfts from￿and ￿whiCh
eomprise 63.9% ol Ihe lolal gndowmenl fund are lo be paid al the Iruslees. dlscrelion io The Royal
Infirmary. Glosgow, The Waslem Infimiary. Glasgow of The Royal Hospital for SiGk Chlldren.
Page 14

The Melkle and Paton Fund
Notes to the Flnanclal Statements for the Year Ended 31 December 2024
13 AnatyJl8 of not a880ts bgtWo•n funds
Unfe$trlcted
fund5
G•nor31
endowmont Total lundg at
fund¥ 31 Docembtrr
Pernianent
2024
2024
Flxed asset investments
Currènt assets
Current liabilities
2.659.493
2,659.493
165.786
{9 242)
2 816 037
165,779
11,2911
Tolal n818ssets
157 828
2 658 209
Ur¥restrl¢ted
funds
Gemral
Endowrnent Total funds at
funds 31 Decomber
Permanent
2023
2023
Flxed 8s$81 inveslm8nts
Cuyrenl as8els
Current liabilllies
2.588,569
2,588.569
183,430
(4.6021
2 767 397
183.423
(3311)
180112
(1.2911
587 285
Total nel assels
14 Related party tran6adl¢ns
crtoff Hydro Ud
During Ihe year the trusl provided subsidised aGcommodalion al Crieff Hydro Ltd in acwdance with
the c4)nslitut￿n of the challly. The tru51ees con$idèr Crleff Hydro Ltd lo be 8 f•l8led pgrly duè lo Ihe
significance and In¢idenc& ol the transa¢lkJns baiw8en the entities and the Inclusion among the trustees
of the Chl81 Ex9CUtivo ol Criaff Hydro Ltd.
The total value ol accc•nmodalion kKovidotJ during the yaar was £70.92212023: £27,382).
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