Charily r¥g4siraliM nnber.- SC014992 The Meikle and Paton Fund Annual RBwrl and Financlal Slalèments lor lh8 Year Ended 31 DecembpT 2025
The Melkle and Palon Fund Contenls Trusle¥5' Repwl 1to5 Indendent Exèmlnerfs Report Statement of Financlal A¢livities Balance Sheel Notes lo Iho Financial Slatem?n15 91015
The Melkle and Paton Fund Trusteès. Report The trUoes presenl Iho annual rèport tO9elher with Ihe [ancIal sialèmenl$ of th6 thority lor the year endtsd 31 Dec?rnber 2025. The truSeS havè adoptèd ihe provisions of Accovnling and Rèporting by Charities.. Slatemenl ol Recommended Practice applicable lo chAfities propariThJ thèir accounls In accordance wilh the Flnanclal ReporlitKJ Swdaid applicable in Ihe UK and Republic ol Irefand IFRS102) l$ffecliv$ 1 January 20191. Obl•ctlves and a¢llvlll•s oblts and alms Tha Tru51'5 obleclives are lo wovlde lor cosl ol main1tnce and Ir&olmenl of Prolesl8nl mlnlsiÈrs, missionaries and Chiisli8n workers at)d others en93ged in su¢h work aleslabtsshm?nls owned by Crieff Hydro Limiled or Ils wholly owned subsldlarits. The Ch8riWs tru51egs expend Ihe in¢orne 9eneraled in each year In accordancg with Ihe objec¢lves 01 Ihe Ch?rity as expressed in Ihe Conslilution. In order ¢0 achieve Ihis. Ihe tnJ51ees pr¢)vide a subsidy Io suitably qualifd applicants wishiNJ to stay al
n eslablishment owned by Ciieff Hydfo. The18v81 of subsNIy 15 rgvtewed regularly lo lry to gn¥urg that
the is neither an overspgnd nor a sf9nlficant underspend ol Ihe Trusl'5 incotne in any yaar. Granls are awardèd conlinvan¢e ol the objèct of Ihg Tru$l 10 5vilable qualified applicanls. The Irnslees wlil tlf discretion to allocale funds il Ih8t• is an excess of demand orb th& funds. Achlevèmènts and pèrformancg During the y88r U)e chafily provldod a nSghUy accomrnodal¢on $tJbsidy I"Ihe sub8iWI to qualifyin9 appl¢rants wishlny lo slay al an e5tabli$hment owned by Criell Hydro Llmlled. Paymen15 of the 5vbsidy lo benefic18rtes dLtrfng Ihe y82r amounted 10 £83.84212024.. £70.9221. Paymenls of the subsidy ovor the lasl iwo years have exceedèc5 income a5 IhE ¢fusle have Sght lo release the surpfus built up during lh¢ Covi&19 pandemic when IhEre was little ¢811 upon lh8 charlly's lunds. That 5urpltss ha5 now bean largely &xhausled and Ihg Lfu51eos havtr moved lowards reslomg the payments io bènefSciarios lo rnore typical levels. They are actively looking al ways in whkh they can expand thèir cuifenl pool ol iecipien¢s and are monitoring the level of subsidy lo ensure that it encourages participation by au eligible recipienls. During the yeaf the ¢harily also Iniualed a relreal lor newly ordained minislers which will look place in Febwary 2025.The relreal wa5 well received. and Ihe trusteos wlll look al opon5 lo hold slmilar Qvanls in tho fulura. Ttt6 cost olih& rotrgatwas £21,200 and 45 newly ordakned mini¥tew5 altendtsd lor Iht three day events. The trustees Mntinue lo monitor the applicalion pror¢ss wilh re9ar<Js lo Ihe Irusl mo&1ing the need5 of a charity in U)8 2151 c¢niury whil$1 having rggard lo Ihg original inlentions of Ihe set015. FlnancSal revlew The fmawal pos11ion ol the trust 15 S8t oul in the allèched accounls. Policy Dn r¢seThès The truslees h8vo previously soughl io hold unr8sl¥icled $8*$ equivalentto approximalelytsvo y¢4rs planned expenditure whi¢h was assessed ¥s being £60.000 per annum. The Ltnresiricted reserves al Ihe end of the yoar afe £102.00512024.' £157,828) which ts in excess of current requwements. Page 1
Funds In dèllclt Thor8 are no funds Ni défiut. Inveslm•nt pollcy knd obJ•¢llv•s Thè Iruslees have tak8n steps lo oplimLEe th? nel fflcome for dalNery of ch?rit8bla bènèfrt in lerms ol the Conslhtutlon and, in thSs regard. they are building A rèserve ol ac¢rued revenuè lo meel their Commilments in Iho eveni ol reduced income to tho Trusl. They are mindlul Ih81 they are dependent )on the Trust Investmonls lor that income, including a siynificant shareholdln9 In Crfell Hydro Lld. Th8y afo aware ol their obligalion in régard lo lh£ Trusl inveslrnenls as lald down by thè law and will ¢onliiue to rethew the performanrg tsl the portlolio under managern8nl by Barclay5 Waallh and also moTrttor th& shareholding in Criefl Hydro LIO as a source of Income lo th Chaiity. Struclvretr govèrnanc¢ and manag•ment N8lur• of govwnlnq Llo¢um•ni Tha Maikle and Paton Fund Iform8rfy Ihe Palon Fund) is a Scottish unincorporaled eharltable entily ISC0149921 established vnd8r a Deed ofTrusl daled 14 February 1910 and registered on 20 December 1919. The tsriginal Deed of Trusl was amènded under the lemis ol the ChaTilies and Truslees Ilnveslmèntsl Scowand Act 2005 Ihe approval ol the oifjce of the Scolli5h Chariiy Régulator and as detalled in the Minutes by th¥ Trustees dald 23rd March 2010 and 21st April 2016. Originally knwn 85 the Paton Fund, 8 re501ullon by lh& trusle85 &Flecling a change of name of th8 Charity to tho Meikle and Paton Fund was passed on 201h May 2010 8nd subseqvenllyapproved by Iha oifKe ol Ihe Sco1115h Charlly Regulalor. Recr{lment andappolntm&nt ollrust•es In thè eveni of a trustee reliiin9, suitablè r8placemenls are sought Irom the caiegory ol Ihè rétiring Intstees in Ihe fiisl instance to altempl lo mainlairt the balance ol the Irusl80s. Rotirn)g anu remaining Intee$ sU9$t suitablè replacemenls who aro then 351 duty considered prior lo an 8ppoinlmenl being made. The exisling tW5tees wlll provide prosp¢elive and new truses Snformalion upon the charity and an Induction brief upon Ih8ir dulles as a charity trustee. Induction and trjlnlng ol lrnstees The aims. objeclnies and current actwilies ol the charity are funy explained to new Iruslees and they are rn&de aware ol Ihe r8quir8mènls coniained in the Scottish Charity ReguLg10rf5 Guidance.. Guidance IN charity Irustees. Organlsatlonal strucluTr The Iwstèes meèt formally Iwice per hnnum. The Tntsfs sloekbrcther and accounlonl have also b¢on In aiièndancè lo gNe raports an¢J oller profossiunal advic$. Ows5on5 ¥r• taken at Imslee$' meellft9s by simplp majorily. The day to dayadminislralh?nol the Charfly has been unt1ertaken by Rev l F Paton. 8 trusteo. Th8 other trusiees wovld like lo oxptess Iheir Ihanks lo Rev. Paion for h1$ efforts. Pagè 2
Thè Melkle and Paton Fund Trustses. Report Rèlatlonshlps wSth rg141¢d parties Crl¢fl Hydro Lt Thé tsuslees consider Criell Hydro Ltd to be ¥ rlaled partydue to the signifKance and Mi¢wJenGg ol ihe transa¢lions belwe9n Ihe 8nlilie$ and the inclusion among truslees of Ihe Chiel ExecUva of Crieff Hydro Ltd. Transaclion$ between Crieff Hytho Lld and th¢ Trust è as govornod and permitted by the on5ti1utlon of Iha Charity. Major rl$ks and man•gomèntof thos& rlsks Risk Managemenl The trusteès h8ve a duly to identify and review the risks 10 which thè charity is exposed and lo enswe appropriale controls 8ie in place to wovid¢ ie8sonablg ossuran¢tr ag?In8t Iraud and error. The truslees consid8rvariabilily ol investrnenl relums on the endowmenl ftsnd tts ¢onslitule Ihe charws maioi financial risk. In order to 8meliorai¢ lh6 risk. IhE Irusiees have employed on rnvesunent mana9trr on a d(tionary basss with instn160nS ¢0 malnthin the pital whllsl generating SuffnI lo meet Ihe On9ng chariiablg nbed5. Th? other majcw Gy8ralional risk rel?1gs lo fraud in rgspecl of applicatbn¥ made lo the TWSL trustees 8r8 CLYislaDlly rnonitoring the slluaiion with regard to ensurin9 that all appllcalions are made frorn bDna rtde Piolgslanl mlnislers. mjssionaries ènd Chrislien workers. The identific8Uon and as59$sm6nl ol ii5k5 lo whith th* Chaiily may be exposed wil bè conduded on an ongoing basis by the Iruslees. Paga 3
The Melkle and Paton Fund Trustees, Report R¢feren¢t and Adrninl¥tratfve Det411$ Charity Registrallon Number: SC014992 TNslees: l F Palon G K S Leckie J C Andrèw I W F Hamillon M Macmlllan l E Burch81 Falr {resnId 15 O¢tobèr 20251 E McMahon18ppointed 28 October 2025} S O'Hare18ppointed 16 March 20261 Prln¢lpal off1. Muldankh Sbrling Street Blacklord Perthshlfe PH4 1QG Ind•p•ndent Examintr: Tracy Bo¥land F.C.C.A C.I.P.F.A. (A111. Morris & Young Chariered Accounlanls 6 Alholl CTescenl P•rlh PH1 &JN Page 4
The Melkle and Paton Fund Trustees. Report Statem•nt of Rospon51b1111195 Law applicable to ¢harilies in Scouond requires the InJ51ees lo pr¥paie an annval report and accounts lor each fjnaneial year which glve a Ins¢ end fair View of charit8 financial aGlévlttes during the ygar and oli15 financial position 81 Iha end of Ihe year. TAe irustges arg responsible for prèparing thè annual r¢port aThl lh6 finan¢i81 stalemenl¥ in accordanc& with 8pplicabl8 law and Urtitod KiryJdom Generally A¢cept8d AccouDliThJ Pr8¢li¢¥ IVK GAAPI. In prepamo those accoun15, giving a trua and fair view, Ihe IFuslees shovld follow bgsl pra¢ii¢e and- - selecl Sultae accountlng poliu•s and Ihen apply them eonsi81enlJy', - m8k8 judgemènts and 85limales Ihat aro reason8Ug and prudoni: state whether ap1¢able ac¢c¥unllng standards and slatemenls ol recommended pracllco have boen Idlowed. subject to any departures disc105ed ¥nd explain¢d In the 8ccounls,' "prepare Ihe arxounls on a gJing concem basis unless il Is inapproprlale lo presume Ihg tharlty wil continue in operalon. The trusl&es are r85poristble for k$èpiThJ accounling cOrdS which dis¢l0$g wlth r&Asonable 8¢etsr8cy Ihe fioancial position ol Ihtr ¢harly and whi¢h enable 11 to ensure Ihal Ihe acrounls comply wllh the Charilips and Tru5tb Invoslmenl IScoll8ndl Aci 2005, the Charibes Accoun¢5 (Scollandl Regvlalions 2006 and the coftslilulicm. They pro also responsible for salgguarding lh& as5els ol Iha charity and hencg for tsking reasonatylg steps for lh8 pravention and deleclion of fraud and oth8¥ regulari0$. The annual report was approved by the tru5teQ5 of the charity on 27 May 2026 and ¥igned on its bgllall l F Paion- Tnjstee Page 5
The Melkle and Paton Fund Independent Examlner's Report to the trustees of The Meikle and Paton Fund I rgport on Ihe a¢¢ounts of the chawly lor tha yaar ended 31 Oècomber2028 whKh bre Sel out on pages 71015. Rèspe¢tlv• rtrsponslbllltles of trustees and examlner The Gharsty's Iruslees are responsible lor the preparation ol the accounts in aeeordance wlh Iho t¥rTw of Ihè Charities and TTUStee Inveslment Isctsllandl Act 2005 and Ihe Chavllies Accounts (Scollandl Regulallons 2006. The charity's Irusi8&s considef th81 thè Budil requirement ol R8gulalion 1011llal to Icl of thè Accounts Regulatlon5 doe8 not appty. It is my SpOnsIbl11fy 19 9xami& Ihe accounts as ftqJired under Sèclion 441lllcl or the Aci and lo sl810 whèihef paicular maller5 havè come lo my allènlion. Ba61s oltho Independent ex&mln•rfs rèport My 8xamlnalion was farried oul In accordancè wilh Ragulatlorh 11 of Iha Charilies Accounts (Scotlandl Re9ulallons 2008. An examlnation in¢ludes a rewew of Ihè accounting records kepl by the charily and 8 ¢omparison of Ihe aecounls presented wilh Ihose iecords. 11 a150 includes conslderalion of any unusual Élems or discbsurès in the accounts. and seekln9 8xplÈnktionsfromyou as Ifu3lees ¢tr)cemin9 eny suth mallers. The procedures undertaken dtt not provide all Ihe evhl&nc8 Ihat would be required In an audil, and con5equenlly I do not express an audit oplnion on the wew given by Ihe accounls. Indepgndent •xamlnèr's st8t•ment In conneclion with my examlnalion. m rnatler has ¢om8 to my attention.. 111 which glves m? reasonatye ceu8e to beligve Ihal. In any malorial r65pecl. th? roqu¥ements lo keep 8ccounling records in acCanCe with Sèction 4411llal of the 200$ Acl and Regvlalk)n 4 01 Ihe 2006 Accounls Regul81ions- and- ¢0 prepare accounts which accord with lh8 aceounlSng records and lo COmY wllh Regulation 8 0( the 2006 Accounls RÉgulalions ha nol been rnel.. or 121 lo whS¢h. in my opinion. attenliOII Should be drawn in order lo enabl& a proper underslan&ing ofthe accounts lo b9 leached. Jf oJLo_Jl rrary Bo Morrls & Young Chartergd Accounlanl$ 6 Alhc41 Cres¢enl Perth PH15JN .C.CA C.I.P.F.A. (Alhll. Dale: Pag6 6
The Melkle and Paton Fund Statement of Financial Activities tor the Year Ended 31 December 2025 Total 2025 Total 2024 Unrestrlct•d EndowrnEnt Note Incom• and Endowmen from: Inve51menl income 60.017 60,017 59.246 Exp•ndllur¢ on: Raislng lunds Charitable activleS 15.8441 (109.921) 15.8441 1109,921) 15,3811 176 149) Total Expendilure Gainsnoss8s on inv8Stment assels 1115,765) 75 180 039 179.964 Not movement in lunds 155.8231 180.039 124,216 48.840 Roconclll?Ilon of fund8 Total furKls Lyoughl lorward 157.828 2,658 209 2.816,037 2.767J97 Tolal funds carried lorward 12 102.005 2.838.248 1940.253 2.816.037 AN ol the Gharily'5 actlvilies deiNe Irom contlnuing opgrallons during the at*)vp Iwo per4ods. Tlie notes on pagtrs 9 10 16 form an integral part ol Ihe3e fmanoal stslements. Page 7
The Meikle and Paton Fund (Registratlon number: SC0149921 Balance Sheet as at 31 December 2025 2025 2024 Notè Flxed agsets Inv¥slmenls 2.914.532 2.659.493 Currgnt 88set8 Cash al bank and In hand Prepaymenls Croditors: Amounts l•lling due wlthln on• y¢ar Not ¢urr•nl Jssets 29.573 5.328 160,836 4.950 10 11 19.1801_ 25.721 242 154,544 Not 8s$éts 2 940 253 2.816.037 Funds ol the charlty: Endowmenl lunds 2.838,248 2.658.209 Unr•$trlcled Income funds Unfesliicled lunds 102005 157.828 Total funds 13 2 940.253 2.816.037 Tha fincial slalBm¢nts on pages 7 10 15 wer• approvèd ty thg trle•S and aulhtyised for issue on 27 May 2026 and slon&d on Iheir behalf by.. l F Palon- Truslee The notes on pages 9 10 16 lorrn an Inlegral part of Ihtse financial slalemtnls. Pagg 8
The Melkle and Paton Fund Notes to the Flnancial Statements for the Year Ended 31 December 2025 1 Accountlng pollcl•8 Statement of compllaffic• The finan¢l81 slaleTnenls hav9 been prepafed in aecordanco with Ac¢ounlin9 and Reporting by Charities.. Slat8mènt of Rècommended Praclice OPFAicable to charilias preparin9 their a¢cwnl5 In accordance wlth lh¢ Financial RepDrting Slandard applicable in the UK and Republic ol Ir•tand (FRS 1021 leNèclive 1 January 20191- (Charities SORP IFRS 10211, Ihe Financial Repctrting Standard applicable in th& UK and Republic of Ireland IFRS 1021. the Charities and Tiuslee Investment IScoU8nd) Act 2005 Mnd Ihe CXaribe$ Accourts (Scotlandl R¢gulalions 2006 las amonded). Basls ol prnparatlon The M¢1& and Paton Fund moets th& dèfinllion ol a publlc benofil enllty under FRS 102. The ffnAnclal 51alem¥nls have b89n prgpared under iha hlslorK cost convenlion wllh Iha •xceptitsn ol Snvestmen15 which are dUded al market value. as modified by the m•lualon of¢erlain assels. Golng ¢onrem The trusiees considèr Ihal Ihere are no material un¢ertanlles aboul Ihe charity's ability lo conbnu• 8S a 90ing con¢om. Income and •ndowm8nt¥ All incomg IS fecogni5ed in Ihe sl8l•menl of Financial Activili8s once Ihe diarily has entitlemenl lo the lund5. il 1$ probabl& ihal Ihe incorng wlll ts8 received anE1 Ihe amovnl can bg measured reliabty. Inve51mentlncome Interest on lunds held on deposil is included when receivable and lh$ 8mouni¢8n b¢ measured reliably by Ihe charily, this is normally upon nolific¥lion ol tht inlerest paid or payable by the bank. Diyidgnds a reCognid once th¥ divK1end has boen declated and nolifi¢ation has been receiv¢d olthe dlvidend due. Expendltur• Al expendllure is recognised once there rs a legal or constructive oNlgation, It is proba& seltlemènt Is required and the arnount can be mea5urtrd roliably. All cosls are alloca18tJ to th8 applitrable exp9ndilufe headin9 Ihal aggregatt similar costs to Ihal calegory. Wheie ro51s canrtot be ¢Yirèetly olln"butad 10 particular heading5 Ihey have been allocaled on 8 basis con$isl6nt with Ihe use ol resources. Ralslng funds These are cosls Incurred in ollraciirrfJ VDlynlary income. the mana9emenl ol invesknenis and Ihos¥ incvrred in trading act]vitiès th31 rai$È (und5. Grani expendlturo Grants payabl0 are charge(I to Ihg year whan Ilie grarrt approved by Ihe liustees Is uncondillonally committed lo the recipient. P890 9
The Melkle and Paton Fund Notes lo the Flnanclal Statements for the Year Ended 31 December 2025 1 A¢countlng poll¢los Icontknuodl Gov¢mance cosls Thg$e include lh8 Costs attributable 10 the charity s complian¢è wilh conslituknnal and slalulory reouifarnenis, including audil. strategtc managem¢nt and truslees. meelir¥J5 and rgimbursed expenses. Taxollon The charity 1$ exempl Irom tax on its ¢harilable actniilies. FIx8d ass¢t Investments Fixed B5sel Inveslrnènts. other Ihan programmè related Invesimenls, are cluded at mark¢t value 81 Ihe balance 8h¢¢l dale. Reallsed yains and losjes on Inveslrnenls are Calculat as Ihe diifèrence betseen sales proceeds and thgir market valv8 31 Ihe start ol Ihe year, or Iheir subsequenl c05t, and are chaiged or Credited lo thè Statemeni of Financial Activities in Ihe p8rK>d of disposal. Unrealtsed gains and ltssses rèpresent Ihè movement in rnarkel values during the year and are tr8diled or charged lo the Siatement of Financial A¢1411e$ based on the mark&l value al Ihè year end. Cash and cash •guivalents C85h and ¢85h oquivalents ¢onN)rise cash on hand and call deposils. 4nd olhÈrshort-lemi highly liquid investmenls that ar8 r6adlly conver11b 10 a known Bmounl ol cash and arè stsbigct to an Insi9nS1icanl iisk ol chan98 In valuè. Fund stru¢tur8 Unre51ticted incomp lunds arè geoer#l funds ihal are availabl8 lor us• al the truslees. disueliryn in lurfh8r8nc8 ol Ihè objectivgs of t charity. Endowmènl lunds sre held on Iwsi lo bg rei8ined for th8 b8n8fl1 of th• charily as a capllal fund. All endowment funds are permanent endowments 8nd the trustees must malnlaln Ihe whole ol the lund in pefP8tuily. Page 10
The Melkle and Paton Fund Notes to the Flnanclal Statements for the Year Ended 31 December 2025 2 Invèstment Incom? Toial 2025 Total 2024 Gèneral Income frcm thvithnds., Dividends CeIVebIe fiom olhgt lisiod Inv851menls Inlerssl fecelvablg and simdar iftcome., Interest Ceivabl¥ on bank deposits 56.806 56,806 57,19) 3.211 60.017 3,211 2.05fj 59.246 3 Exptrnditur? on raislng funds Total 2025 Total 2024 General Other }VestMent managemenl c051s: Amounts payable lo investmenl Mag5 5.381 5.381 5,844 5.844 4 Expenditure on ¢harltablo acllvllles Total 2025 Total 2024 Generpl Retreat lor newly ordained minisl¥rs Subsidy grants Governance c0515 21.200 83.842 4.879 109.921 21,200 83,842 4,879 109,921 70.922 5.227 76.149 Pag811
The Melkle and Paton Fund Notes to the FSnanclal Stalements for the Year Ended 31 December 2025 5 Analyslg of govemanco and support costs Governanco costs Total 202S Tolal 2024 General Independonl èxamlner lees Examinallon ol Ihe financlal slalem8nts 666 Legal f¥oS Secretarlal co$ts Ae¢ountsncy 1905 Olher 590 220 3,360 43 4.879 1,300 200 3,000 43 5,227 220 3,360 43 6 Truslees. remunèratlon #nd ¢xpen$es JC Andrew, a trustee, is a partnerol Lindsays LLP whi¢h receNed tS9012024'. £1.)$) lor legal al1ve thiring the year. No truslee5 have ce1 any reirnbuiseLI expenses Irorn thè ¢harity during Vw year. 7 Taxallon The Charity 1$ a regisad charity and is IheTefore exernpt from laxalion. P3g8 12
The Melkle and Paton Fund Notes to the Flnancl81 Statèments for the Year Ended 31 December 2025 8 fix asset Investments 2025 2024 Other invps¢mènis 2.914.532 2 659.493 othpr Inv8stmoDIs Llsted Invpstments Unllsted Inve¥tsnents Totsl Cosl or Valyatlon Al 1 J?rmJary 2025 Ad<lilions Revaluation 1.849.493 75.075 179.964 810.000 2.659.493 75.075 179,964 Al 31DecernI 2025 2.104,532 2,914 532 Net book value At 31 Dember 225 2.104.532 810.000 2.914.532 At 310ecember 2024 1849.493 810.000 2.659.493 As at 31 Dee6mbg1 2025, the ChariW$ inveslmot)Is comprised 1,363.933.OS 12024.. 1.363,933.051 shares In the Ba¥cIoys Charity Fund, 810,00012024.. 810.0001 sharès in Crieff Hydro Ltd and £75,000 invested #) a Barclays Money Markol Fund12024.. £nilJ Thg original c05101 Ihe shares (n 8arcl8ys Ch8T*ly Fund 4S £1.439,83412024: £1,439,834). Th8 original cost ol the shares In Ciiofl Hydro Lld was £21,938. Page 13
The Meikle and Paton Fund Notes to the Flnanclal Statements for the Year Ended 310ecember 2025 9 Cash •nd cash wulvalent$ 2025 2024 Cash 81 bank 29,573 160.836 10 Prepyments 2025 2024 Dqposil paid lor Mlnislws, relie81 5,328 4.950 11 Cr8dltors: amounts falling due wllhln one y¢or 2025 2024 Other ¢r8dilors 9.180 9.242 12 Funds Olhtr Balancè at Incomlno Resourcès r?¢ognls9d 31 Decomber rèsources expended galnslllo$sesl 2025 Balance al i January 2025 tlr¢resirlcted Gener81 157,828 60.017 1115.7651 1751 102,005 Ethdowm¢nl Permanfrnl 2.658,209 180.039 2.838.248 Total funds 2.816.037 60.017 115.765 179.964 2.940,253 The EndowrnBnt Fynd was established by Inillal gift$ from Williarn Meikle, Thomas Henry MeSkle and Mr5 Agnes Palon or Methle. The gilts were mHde lo the chaiily on condition Ihal they are held as a permanenl 8ndowmenl. Ihe in¢omo Irom which Is freely availabl8 lo lund the activ1tS ol the chailty. Upon a wnding up ol the trust. the inili819fft fmm Mfs Agno5 Palt)n cr Moikle whi¢h comprS8e3 36.1°h ol Ihe lolal 8ndowmgnl lund is lo be paid lo Ihe Uniled Free Church of Scoll8nd or whalever denomination 01 body of Chri51ians with which th8 United Free Church ol Scotland may her8aft8r be lncorpwa1 or am8bJamaled lor the for¢ign miSSh)ns ol said ChJrch. Up)n a wlnding up ol the Trust. the inillal gills liom William Meikle and Thornas Henry Moikle whi¢h omprise 63.9% of th* total 8ndowrnenl Ivnd are lo bg paid al the trusle8s' discretion lo The Royal Infimiary. Glasgow, The Weslern Infirmary. Glasgow or The Roy81 trlospiial for Sick Children. Page 14
The Melkle and Paton Fund Notes to the Flnancial Statements for Ihe Year Ended 31 December 2025 13 Analys1¥ of Mèt a$6•ts betw•en lund$ Unrèstrlc¢ed funds Genoral Endowm•ni Total lunds al fund5 31 Dec•mbor Permanent 2025 2025 Fix8d asset Inv¢¥lrnenlg Cunenl as591S Cuffenl liabilits 75.000 2,839.532 34.844 57 7.839 11341 102.005 2.838.248 2,914.532 34.901 Totsl nei assets 2,940.253 Unrgslricted funds G8nFral Endowment To¢01 fund5 at fund5 31 December Perm•nent 2024 2024 Ftxed asset investments Curront assels Current liabillt*s 2.659.493 2,659.493 165,786 165,779 -{7 951) 157,828 Total nel p5s¢1s 2 816.037 14 Related party transactions Crlell Hydro Ltd Ouring Ihe year the Iiusl plovxled subsidised attommod#tion al Cri$ff Hydro Ltd in accordance with Ihe conslilution ol the charity. The Iruslees consider Crieff Hydro Ltd to be 8 lolaled party due lo the significance and incidence ofthe Iransadions belwegn the entitie5 and the inclusion among the Iwsitres ol the Chief Executive of Crièll Hydro Ltd. The lold value ol aecornmodatiw provkled during Ihe year wa5 £105,04212024: E70.92Z). Page 15