Nan Stevenson Charitable Trust for Retired Ministers
Scottish Charity No. SC015868
Financoal Statements
For the year ended 31 December 2025

Nan Stevenson Charitable Trust for Retired Ministe
TRUSTEES
Mr Magnus Ross
Mrs Christine Thomas (to Mafth 2025)
Rev Alan Ward (to Septembar 2025)
Mr Brian Murray
Rev T David Watson
Mrs Chrisline Murray
Rev Noel Chikanya (from Odober 2025)
Mr Andre￿ Morton (to May 2025)
Mfs Gillian Lynn (from June 2025)
SECREfARY & TREASURER
Mr J Fulton Murdoch
Blad(dales House
34J Char￿S Street
Largs
KA30 8HL
BANKERS
Royal Bank of Scotsnd plc
Main Street
Largs
KA30 8AF
sOUc￿oRs
The Church of Scotland Law Departrnent
121 George Street
Edinburgh
INDEPENDENT EXAMINER
Mr lan Ferguson
61 AFtken Drive
KA15 2ER

THE NAN STEVENSON CHARITABLE TrUST FOR RETIRED MINISTERS
TRUSTEES REPORT
For th• year Ond￿ 31 D•¢Mnb•r 2025
FINANCIAL STATEMENTS
The Trustees present their report and financial statements for the year ended 31
Decembei 2025 which they consider comply with The Charities Accounts {ScoUand)
Regulth'ons 20(￿. In particular. as ts Income of the Trust does not exceed
£250.000 the fonn prescrl)ed by Section 9. a Retsipts arKI Payments Account and
Statement of Funds with relevant Report and Notes. has been adopted.
It is the Trustees. responsibilty to prepare this Report and Ac(X￿nts a￿1 to maintain
adequate records sufficient to disclose with reasonable accuracy at any time the
financial position and to safeguard the assets of the Trust arKI take
reasonable steps for the Preventi￿ of fra￿ and other irregularities.
FINANCIAL RESULTS
Receipts during the year tolalled £12,585 {2024.' £13.264) which comprised Loan
interest receipts of £2.661, Deposit Fund interest of £6.000, Bank interest of £82 and
inveslment income our Gr(Avth FurKI of £3.842. No loans were redeemed
during the year. Payments during the year were £42 {2024: £32) which was
payment for newspaper noti￿ of AGM. In addition. a grant of £3,995 was made for
the purchase of a Braille reader and a Joan of £120.000 made to support the
purchase of a house. Overall, there was a deficit of £111.452 for the year (2024:
surplus of £13.232). Total Funds at the end of the year amouthed to £535,324
(2024.. £526.775). The value of ￿ Gr(y•Ah Fund at 31 December 2025 was
£195.825 (2024. £181.594).
PURPOSES OF THE TRUST
The Trust was created by the late John Slevenson under Trust Deed dated 18th July
1988 in memory of his late wife, Nan. to assist principalty with th& provision of
IK)using in retirement for Church of Scolland Ministers but also Deacons and
Missionaiies, who have ministered or been resident in North Ayrshire and. wilh
discretion. Ott￿r Ministers, Missionaries or Deacons. The 0￿Inal Twst Deed was
amended in 2021 to include persons in a recognised ministry wthin the Church
being eligible to apply at. slighty before or after reliremenl and lo allow the Trustees
to award grants as ￿£11 as loans. These changes maintsin the orwJinal purposes of
the Trust but refiecl changes in soc*.
TrUSTEES
The Trust Daed provides that administralion of the Trust be by Trustees who are
members of the Presbytery of the South West. including two who represent Largs.
The Trustees who acted during the year are ltsted on Page 2 of these statements.
The Moderator of Presbytery and Presbylery Clerk are ex-officio Trustees and the
m￿JeratOr acts as Chaimian of ts Trust during his or her period of office. In the
event of a vacancy for Trustees, this is discussed wilhin the Presbytery who appoint
apprcf)riate membefs as required. NominalK)n and appointrnent is therefore
independent of the existing Trustees.

AcnvmES
The Trnstees are always ready to assisl those eligible as and when required. The
Trust is empowered to assist cerlain applicants who are otherwise ineligible for
assistan￿ or who require additional assistance from The Retired Ministers, Housing
and Loan Fund of Ihe Church of Scolland and has co-operated with such cases in
the past. The TTUStees hope that being part of an expanded Presbytery will result In
an increase in approaches to the Trust for funding.
During 2025 arb application was made ts a grant towarts the pl￿ChaSe of a Braille
reader and this was granted in the amount of £3.995. An application was also
received for a loan towards the purchase of a house for a retirin9 Minister and a loan
of £120.000 on a Shared Appreciation basis was approved.
RESERVES
The Truslees maintain a small affrt)unt of funds for running Tequirements in a Royal
Bank of Scotland current account. The Twustees retain a reasonable amount of
funds should it be required for lending purposes in a Church of Scotland Investors
Trust Deposit Fund.
INVESTMEKr poucy
Surplus funds are invested in a Church of S￿lIand Investors Trust Growth Fund. At
the end of December 2025 the market vaue was £195.825 (2024: £181.594) at a
cost of £150,000.
DONATED SERVICES
The Trust is relieved of virtually the whole (x)st of administrdtion through the
voluntary services of all the Trustees. induding the Secretary & Treasurer. The
preparation and examination of accounts is carried wt free of charge.
Signed on behalf of the Trustees
Magnus Ross, Trustee
Date..

THE NAN STEVENSON CHARITABLE TRUST FOR RETIRED MINISTERS
FINANCIAL STATEMEPWS
For the year endad 31 December 2025
RECEIPTS AND PAYMENTS ACCOUKr
2025
2024
RECEIPTS
Investment income
Loan redemption
Shared appreciation gain
TOTAL RECEIPTS
12,585
13,264
PAYMENTS
Administration expenses
Legal expenses
Investments
Grants
Loans advanced
TOTAL PAYMENTS
EXCESS OF PAYMENTS OVER RECEIPTS
42
124037
32
BANK BALANCES brought frnrd
Excess Re￿lpts1(PaYffl8nt$)
BANK BALANCES AT 31 DECEMBER 2025 5
INVESTMENTS AT 31 DECEMBER 2025
LOANS ADVANCED
144.575
111451
33,124
150.000
131,343
144,575
150,000
TRUST FUNDAT 31 DECEMBER2025
52
77
The Report and Fina￿￿al Statements were approved by the Trustees.
Magnus Ross
Trnstee
J Fulton Murd(Kh
urer

THE NAN STEVENSON CHARrrABLE TRUST FOR RETIRED MINISTERS
NOTES TO THE FINANCIAL STATEMENTS
For the y•ar onded 31 D•cember 2026
1. BASIS OF PREPARATION
The Financial Statements have been prepared on a Re￿Ipts and Payments basis
and in accordan￿ with Section 9 of the Charthes ACC*￿nts (Scotland) Regulations
20￿. Invesbments are included in the Trusvs assets at the I0￿￿r of cost or market
value.
2. INVESTMENT INCOME
2025
2024
Deposit interest received
Bank interest received
Dividends rec*ived
Loan interest received
6.681
79
3,843
82
3,842
3. TRUSTEE REMUNERATION
No Trustee reCeI￿j remU￿rat1￿ or expenses duriNJ the year.
4. INVESTMENTS
2025
2024
Cost
Market Val
S. BANK BALANCES
2025
2024
Church of Scotsnd Investors Trust LWit Aco)unts 27,644
Bank Account
134.801
6. LOANS
2025
2024
Loan6 advanced brought forward
Loans advanced in the year
Loans redeemed in the year
231200 232,200
120.000
Loans advanc•d at 31 December 2025
352
LC￿nS are presentty Provided to 6 (2024: 5) recipients.

THE NAN STEVENSON CHARITABLE TRUST FOR RETIRED MINISTERS
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE ACCOUNTS
OF THE TRUST FOR THE YEAR ENDED 31ST DECEMBER 2025
I report on the accounts of the Trust for the year ended 31 December 2025 which are
set out on Pages 1 to 6.
Respective responsibilitiés of Trustees and examlner
The Trustees are resF)onsible for the preparation of the accounts in accordance viith
the tems of the Charib'es and Trustee Investmenl (Scotland) Act 2005 and the
Charities Accounts (Scotland) Regulations 2006.
The Trustees consider that the audit requirement of Regulation 10(1) (d) of the
Accounts Regulations does not appty. It is my responsibility to examine the accounts
as required under section 44(1) (c) of the Act and to state whether particular matters
have come to my attention.
Basis of independent examinees statement
My examination is carried out in accordance ￿ryth RegulatK>n 11 of the Charities
Accounts (Scotland) Regulations 2006. An examinati(￿ indudes a review of the
accounting records kept by the charity and a ￿mpariSon of the accounts presented
with those records. It also includes consideration of any unusual items or disclosures
in the accounts and Seeks explanations from the Trustees conceming any such
matters. The procedures undertaken do not provide all the evidence that would be
required in an audit, and consequently I do not express an audit opinion on the view
given by the accounts.
Independent examinees statement
In the course of rny examination. no matter has come to my attention
1 which gives me reas￿able Cause to believe that in any material respect the
requirements:
to k￿p accounting records in ac£ordance with Section 44(1) (a) of the 2005
Act and Regulation 4 of the 2006 Accounts Regu1alK￿S, and
to prepare accounts wthich accord wrth the accountj'ng records and comply with
Regulation 9 of the 2006 Accounts Regulations have not been met, or
2 to which. in rny opinion. attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Signed
Date
gg fts£oA£Y Zoz
lan Ferguson
Chartered Accountant (ICAS)
Independent Examiner
61 Aitken Drive
Beith
KA15 2ER