for th8 Yoar End (A company Ilmlted by guaranleg) Chorlty number SC022110 C¢xnpany numbgr SC147594 {S1nd)
Loud (A tsjmpany limited by guarant88) Pagg Raport of th# Management Commlttae Ind•p•nd•nt Examin*¥ Rwrt ststem•nt of the Flnanclal Adiviti•# Balance Sheet Notes ft)rnilng part of the Flnanclal Stst•ments
IA company limlted by guarantee) The management committee presents Its report wth the financfjal 8tat8ments of the company for th8 ygar ended 30th Novembar 2025. OBJECTJVES AND AcnvmES The objecliv68 and ptinGip81 aGtivities of the charity are to: P8 or assi8t In the pffjwsion of public facilit8 for the inhabants of the landward area from Hurtford to Pri8sU8nd incfuding wnthoul prejudice lo the foregoing generality the Towns of Hurlford, Galslon, Moscow. NevJmilns. Darvel and Pri8sUand and th8 areas surrouThJlng them indudin9 in the interests of social welfare for recreation or other leisure time occupatiC. Relieve the poverty of inhabitants of the said area by courrtering tho effects of social and ownomic deprivation tharein. Preserve and protect or assist in th8 pras8rv8tion 8nd protection, for the publlc benefrt of land arKI buildings of hisloric or aesthellc Intere81 and the enwronment generally in the said area. ACHIEVEMENTS AND PERFORMANCE During the period under revlew the Trust. onee again, raised funds from th8 printing and sale of the Irvine Valley Condar. Thank8 go lo the photographers, printers and the Trustees vtho manufacture, market and distribute the Iryine Valley Calendar. for LntInuing to maka th8 Pictorial calendar 8 success. Thanks are also due to the varKtus local businesses who have supwrted the Iryine Valtey Calendar, making up tha larger proportion of the calandar sales, which has meant that the Tnjst has beneffitted from another us8ful profit for the year. A speckil thanks also goes to Duslacco for making a donation (rf £250 towards tha cost of printing the 2025 Irvine Valley Caland8r. Sales of the Late Bobby McBrid8's book "A History of the Irvine Vallef continue lo provlde a useful In¢JNne for the Trust. Other funds raised came from donailons rece1ved. plus Investment ino)me that arose by way of bank intere8t received from funds h8ld in the Trust's bank account. The Tnjsl also reCej investment income of £1.240 (2024: £1,945) from tho Coll8CtN8 Investment Account administered by Quilter. The Collecuve Invèstment Account has increas8d in value on ivs ravaluation at 30th November 2025 by £4.804 following it3 increase in value during the prewous y8ar (2024.. gain £5,013}. This investment was fvnded from the John Kirklan¢J Memorial Fund of £50,000. whlch i8 a pemanenl endowment fund. £1,231 {2024: £1,935) of the investment income received from the Quilter CollectNe Investrnent Account has been r8•invested in tha Collectiv8 Investment Account. Income ond gains from this fund are primarily to be used to provide finanaal 8sSistan lo young people living 1 the Irvine Valley, in relailon to assisling with further educ81ion costs. The permanonl endovdTll8nt fund was increased by the Truste8S from £50.000 to £60.000 to protect tho capitsl of the original £50,000 bequest from tha lat8 Mr. John Irkland. Tha Trust did not make any donations from the John lfjrkland Bursary Fund during the period undgr rgview. During the period under review the Trust donated £500 to the Irvine Valley Walknng Festival, £500 to Ihe Darvel Music Compary. £500 to tha Darv81 Old Folks Trip and £300 to Galston Tcthlers Group. Th8s8 donations were funded from the Tw8t's Unrestricted Funds. Pagg 1
(A company limited by guarantee) rEn 25 FINANCIAL REVIEW The Ststement of Financial Acti)eS shows a surplus for the Feriod under reeW of £6,381 {2024.' surplus £6,583). which includes a gain of £4.80412024.' gain £5.013) on re-v81uation of investments compiising the endowment funds. b8ing the fvnds invested from John KIand'S Memorial Fund. Tha reserve8 sland at £95.86312024= £89,482) in total, which includes the £60.000 (2024= £60,000) perynanent endowment from th8 18te Mr. John KIrkThd and a surplus balanc8 of £5,64112024: £837) of unapplied total relum funds, being the unapplied gains on the invested pemianenl endowment fund. These figures refiaci th8 level of actiwty during tha per)d under review. The Presènt level of funding is adequate to support the continuation of the activitles of the charity In tha madium torn and the Twstees consider the fin8nc4al p0SOn of the charity lo be satisfactory. R•The$ pollcy The Trust operates a general fijnd, applic8ble for all activities which the management oJmmitte8 consider may be undertaken in the future. The Trust also operates an endowment fund, which is comprised of permanent endowmant of £60,000 received by way of a bequest from Ihe lat8 Mr. John lfjrkland. The P8mwnenl endowment funds are restricted funds, lo ba p8mianenUy maintained by the Trustees a5 8 c4pitsl fund and. as such, cannot normally be spent as rf il were incomo. Thg inwme and gains r9C8N8d from the permanent endowment funds are also restricted funds. Income and gains from John Kirkland's Memorial Fund are to be used to provide financial assistanc8 by way of a bursary or other payment to a person living locally in the Irvine Valley. In the first instsnce, priority is to be gNen to young ppIe kn relallon to assisting finanaally wlh further education costs. The original permanent endowment fund of £50,CQO has been increased lo £60,000 to protect Ihe capltal of the origlnal £50,000 bequest from the latg Mr. John Kirk18nd. Main fundlng sources and ewndituro The principal fttnding source of the Trust vrds from tha printing and $81e of calendars and books of Ictal Interest and loeal history. as well as from donations received and investment income frn the Trusys bank account arKI thg inv9slad pannanenl endowment funds. Expenditur8 in tha period under review has been to continue the aims, objectives, strategy and aclivilie5 of th8 Trust. by assisting wlh the promsion of facilitsgs for the residents of the Irvine Valley cornmunity and prowding finanryal assistance k) young people in relation to the c£*sts of their education arKI Welbeing. Investment pollcy In accordance with the Memorandum and Artlcles of AssociatKJn. the Trusto8s have tho powar to invest in shargs, securities and property as they see fft. Th8 original £50,000 permanent endowment fund from the late Mr. John Kirkland. which has been incroasgd by the Trustees to £60,000, is invested in a Collective Investrnent Account administered by Quilter. Th8 Collective Investrnenl Account is comprised of investment in units of different investment funds. The units of these investment funds have values according lo the valua of the shares, Securities or othar investments in which these particular funds are invested. During the p8riod under rewew, incomg rKeived from thgse investment funds of £1,231 {2024.' £1,935} has been rer invested in th8se investsment funds. Tho market Value of the Quilter Collecbve Investment Account at 30th November 2025 was £66,40712024.. £61,136). STRUCTUR& GOVERNANCE AND MANAGEMENT G0ming documont The organisation is a ch8rilable company limited by guarant80, incorporated on 18° November 1993. company number SC147594 and charity numbgr SC022110. Th8 company was foed Urer a Memorandum of Association which established the objects and tk)wers of the charitable company and is govemed under tts Artides of Assooation. The name is 'Loudoun Valley Trust" and it operates only und8r this nama. In the ev8nl of the company being wound up mombers are required to Lxjnlribule an amount not exceeding £1 eath. Tho company is limited by guafanlg9 and no director holds any interest in the capital of tha company. Under company law, the management commitiee of the charity act as direclors ofthe company. Pagg 2
IA company limited by guarantae) STrUCTURE, GOVERNANCE AND MANAGEMENT- continu•d Rocrnitmont of tru¥te8s Rotation and rgselection of members of th8 managemont wmmitt09 is cathgd out in al)rdanCe th Ihe Mgmorandum and Articles of AssorAation. The r8cruitinent of new Trustees is through a process of 8ppIIc8tions. IntaonS and int8niigws. Entitlemont lo appolnt Inte•S All directo of the company arg also members of th8 management ¢>Jmmittee and there are no other suth members. Tho board has th8 power to appK)int additional dir8ctors os required. Inductlon and training polici•s for trusteeg New Twstees receive a full Induction. Including being notiffed of thg Trusts. aims. objectives. strategies and aCt1we8. Oryanlsatlonal structure The adminSstration continues to be handled, voluntarily, by TnJslee5. Th18 Sndudes the maintenance of all financial records, the secretarial duties arKI contact wlh kxal authoriiies and other relevant aggn¢igs. Day to day management of the tharity and Ihe devekjpmenl of its activities is the responsibility of Ihe Secretary. who reports regularfy to meetings of the management MMittee. Indapendant professional assistan i8 gmptyd 88 and when required. Risk mamgement The management ccrfnmitteg have examineij the major slrategic. bjsiness and opgrational risks Nthich thg Trnst faces and cornlmi that systems have been estsblished to enable ragutar reF¥)rts lo be produced so that th8 nsSary Step8 can be tsken to18$38n these dsks. REFERENCE AND ADMINISTRAnVE INFORMATION CHARrrY NAME: Loudoun Valley Trust CHARITY NUMBER: SC022110 REGISTERED NUMBER: SC147594 (ScotlarKII REGJSTERED OFFICE: 53 Main Street NEWMILNS Ayrshire KA16 gDA Manag•m•nt Committ DIRECTORS: Mrs U M Balls Mr R N R Donald Mts AA Keirs mi L Kerr {Retirgd 3 Septembgr 2025) MrA F L Matheson Mr D Monaghan Mr H Morton MrJ A Sharp Mr G W811ty Page 3
oudoun Vall8 IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE INFORMATION - continu•d Other R•fer•nco Inf¢)miallon SECREfARY: Mrs A A Keirs INDEPENDENT EXAMINER: Stewart Ferguson F.C.CA. Chartered Certified Accountanl 22 West Main Stroat DARVEL Ayrshire KA17 OAQ BANKERS: The R¢wI Bank of Scot18nd plc 96 John Finnle Strget KILMARNOCK AyTshlre KA1 1NY FUTURE PLANS The Trust plan$ lo continue the obiectlves and a]Ve$ of the charity. The Trust has already mad8 don8lw)ns to101[ causes and has committed to a donation of £1,000 to Darvel Improvement Group, to 8SSiSt with Ihe cost of marking the 100th AnnNersary of Sir Alexonder Fleming's world changing dis(overy in 1928. The Trust itends to continue to raise fun(Js from the produciion 8fKI sale of the 2027 INne Valley Calendar and, to a lesser extenL from the ltInued sale of A History of the Irvine Valley arKI Historical Aspocts of Nen11n5 bcrt)ks. Th6 Trust is again running a photography cxjmpetibon in junction wth Loudoun Academ8 Art Departmenl. for a photcgraph to be induded in the 2027 Irvine Valley Calendar. The Trust ha8 committed a Prfze Fund of £100 to b8 split betsIn the winner and runners up. Sknce the value of the Collectfve Inveslment Aco)unt hos increased. thg Trus19es have agreed to Commen financial assistsnce from the John Kirkland Memorial Fund. L(yJdoun Academy has been approached to nominate suitable candidatas who would benefit from addltlonal financlal support as they continue studies through Higher education. There has bgen m(MJesl income and modest expendlture during the year and the directors are satisfied that the Trust remaln8 In a sound finanaal posf(ion for the f01hIng year. RESPONSIBILrriES OF ThE MANAGEMENT COMMITfEE The management committee are reSponsie for preparing the finanual statements in acc(Kdancg applicable18w and regulations. Page 4
un Vall (A cLJmpany limited by guarantee) mb•r 2025 RESPONSIBIUTIES OF THE MANAGEMENT COMMITfEE - contlnued Company law requires the management committee lo prepare financial ststements for each financial year. Undgr that law the management committeg have electsd lo prepare the financial stslements in accAJrdanco with United Kingdom Genaralty Accepted Aco)unling Practice {United Kingdom Aunting Stand8rds and applicable lawl. The fin8nryal stst8ments are required by law to a true and fair view of the stale of affairs of the company and of the profil or loss of the company for that period. In preparing thase finanual statements, th8 managèmanl commtttee are required to: seled suitable accounting polici9s and then apply them tn51Stenty. make judgemants and estimates that are reasonabl8 and prudent.. and prepare the financkql statements on the going concem basis unless it is inappropriate to presumo that th company wlll continue in buslness. Thg management MMittee are responsible for keeprng proper accounting record8 whlch d18dose reasonable accuraLy at any time the financial position of the company and to enable them to ensure that the finand81 statemenis compty vJith the Companies Act 2006. They are also re5ponsibl8 for saf8gu8rding the assets tsf the company ond hence for taking reasonable steps for th8 pr9venti¢)n and detection of fraud and other irregularities. momr5 of th• management commlttoe Members of the management commSltee, who are dIr)r$ for tha purpose irf ¢Xsmpany law and Trustees f(Y tho purposg of tharity law, who seNed during the whole of the pgriod from 1. Decomb9r 2024 to the dale of this r8POrt are set out on page 3. The charity Twstoes have complied with the duty in seclion 1715) of tha 2011 Charlties Act to have due reg8rd to guidance publi8h8d by the Charity Commission. Thls report has begn prepargd in accordance the Slatement of Recommanded Practico appllcable to charities preparing their accounts In 8ccord8nce th8 Financial Reporting Standard applicabla in tha UK and Rapublic of Irgland {FRS 102) (effective January 20221. and in accordance wlh the special prowslons of Part 15 ofthe Compaft Act 2006 relating to small companios. 4)proved by thg Managgment Commlttee and Sbned on Its Lwhaw by. Mrs A A Keirs. Secretary Date- 13 July 2026 Page 5
xaminerfs Ro I rep)rt on th8 accounts of the charfty for the y8ar erKl8d 301h Novomber 2025. vthlch are sg1 out on pages 7 to 14. Respectlv• r•ponslbllltlo5 of trustees and mInal The Trustses (th ar8 also the directors of the company for the purKWS of company law) are responslble for th8 praparatrjn of th'e accounts Sn 8ccord8nc8 wth tho lerms of the CharitEes and Trusts8 Investment IScotland} Act 2CM)5 and the Charitiés Accounts (Scolland) RegulatK)ns 2006 (as amended). The tharity Trusle85 consider that the audit r8quirement of Regulation 10(1) (a) to Icl of the 2006 Accounts Regulations does not apply. It is my resF4)nsibility to examine the accounts as rgquired under Section 4411) (G) of the kt and to 8tate ether particular matters have come to my 8ttentlon. Basls of ind•p•nd•nl •xamlngrfs statomont My examlnatlon is ¢xrrfed out in acc¢ydance wth Regulation 11 of the 2006 Accounts Regulatbns. An examination Indud88 a review of the aceountlng records kept by tho charity and a comparison of the accounts presented with tr86 reeord5. It also indudes consideration of any unusual ttems or disclosures in the accu, and seeks explanations from the Trustee8 ncernIng any such matters. The procedum8 undertaken do not provide all the eMdenc8 that Yuld be requirad in an audtt, and consequenty. I do not expr8ss an audit oplnion on the vi8w giv8n by the 3GtxJunts. Independent ex•min$ st•tom In thg course of my examlnalon. M matter has r%Jm8 to my attention (l) which grv8s mo roasonablg cause to belleve that In any mat6rial resp&d tho r8quiramgnts: to keep accounting records in accordanrA with sectlon 44{1) (a} of tha 2005 Ad and Regulation 4 of th8 2006 Accnts ReguLgtions, and to prepare accounts whkh accord wilh the accounting records and comply with Regulatx)n 8 of the 2006 Accounts Regulat¥ have not bogn mrt or (2) to which. In my opinn. attentn should bg drawn in order to enable a proper under8tandlng of tho accounts to be reathe(l. Stewart Feryuson F.C.C.A Chartered Certrfied Aceountanl 22 West Main Str89t DARVEL Ayrshire KA17 OAQ Dats.. IS Juty 2026 Pag8 6
doun Vallè IA company Ilmlted by guarantge) fflr 2025 Unrestrlcted Restri(8d Endowment Funds Funds Funds 2025 2025 202S Totsl Funds 2025 Total Funds 2024 Income and endowm•nts fram: Donation8 and legade8 2,516 2.516 60 Othgr trading a¢vitigs 3.778 3,778 4.136 Investments 1240 1.539 Total 6,593 1240 7.833 6.499 Expendiiure on: Raising fund5 3.558 3.324 Charitable actmdes 1.800 1.CK15 900 6.256 1.105 472 1.577 1,570 N81 gainl{lossl on investmenls 5,013 Ng1 Incomo1(•xpondltuYe) for th• y••r 1.105 472 6,381 6.583 Transf•rs tw00n funds Net movement In funds 1.105 472 6,381 6,583 Reconclllatlon of funds: Total funds brought fopward 25,591 60,837 82.899 T¢>tal funds G4rrled fonvard 6S,641 The statsment of flnancial a¢ANities incorporates Ihe inrne and expendlture account The rults lor th8 ar derlve from contlnuing a(*vitvas and thor8 are no galns or losses othar than trjse shown aboyg. The notes fom part of these flnanclal Statements Paga 7
75 (A company limlted by guaranleel B•l•nca Sh••t 30.11.25 30.11.24 FIXED ASSETS Investm8nts 66.907 61,636 CURREpif ASSErs Stocks Debtors Cash at bank aNI in hand 2,017 2,312 25,617 2.079 1.469 26,134 10 29,946 29,682 CREDITORS knounls falling due wmhln one year 990 1,836 NET CURRENT ASSETS 28,956 NET ASSETS 12 95,863 89.482 ThE FUNDS OF THE CHARITY: ENDOWMENT FUNDS - Permanent funds - Unapplied total relum funds 13 13 GO.0 5,641 60,000 837 65,641 60.837 RESTRICTED FUNDS - RestTiCted incom8 fvnds UNRESTRICTED FUNDS - Unr8strrcted income funds 13 3,526 3,054 13 26,696 25.591 TOTAL CHARITY FUNDS 95,863 89,482 The company is antiued to exemption from audit under S8clion 477 of the Companles Act 20[ for the year ended 30th November 2025. The member8 have not required the company lo obtsln an audit of kts flnancial statements for th8 year end8d 30° November 2025 in accordance with seCn 476 ofthe Companies Act 2006. The directors acknOe9e their rosponsibillties for (al ensuring that the company keeps accounting reo)rd8 whi¢h Gomply wth Sectlon 386 of Ihe Companies Act 2006 and Ibl pr8p8ring financlal statements which giva a true and fair view of the state of affaits of the company as at the and of each financial year and of its profit or loss for each financial year in accordance with th8 requirements of Section 396 and which otherwise rKJmply wth the requirements of the Companies Act 2006 re18ting lo financial statements. so far as applicable to the tmpanY. These finan(ial statements have been pr8pared in accordance with the Statement of Recommended Practtce applicable to charities praparing their accounts in accon1ance the Fin8ncial Reporting Standard applicable in the UK and Republic of Iraland (FRS 1021 {effeclive January 2022). and in a¢Lrdance the special prowsions of Part 15 of tho Compani88 Act 2006 relating to small companies. Th8 financial statem8nts were approved by the m8n8gement commlttee on 13 July 2026 and Ere signed on its behalf ty. Mrs U M Ball8. Dire The notes fom part ofthese finandal statements Poge 8
Loud (A company limited by guar8nte9) STATUTORY INFORMATION Loudoun Valley Tnjsl is a Charttab company, limtied by guardnlee, regisl8r8d in Scotland. Th9 company's registered number, charity numb8r and registered office address Can be found in Ihe reference and administrativa information section ofthe Rewrt of the Management Committeg. ACCOUNTING POLICIES The princ4pal accounting pdicies are summari5ed below. The accounting policies have been apptled consistanyy throughout the perK)d and in the preceding period. Basls of atcountlng Tha financial ststsmants have been prepared In accordance wth the Companies Act 2CK)6 and th& Stslemenl of Rmmen(jed Practice applicable to charities preparing their accounts in accordanGe %wth Ihe Financial Reporbng Standard applicabpe in tho UK and Republ of Ireland {FRS 1021 leffectNe January 20221. There aro no material uncertainties about the charitys ability to OtinUe. FuDd accountlng Unr&strthd funds are 8vailabl8 for use at tha discretion (rf the Trust8os in furtherence the general obigctives of tre tharity. Rgstrictod funds are subiected to restrtIonS on their expendilure imposed by the donor or through the lenr of 8n appeal. Endovmient funds are restricted fuThJs held on trust to be retalned for the benefft of the charity as a capital fund. Where the TNstees must permanentty maintain the whole fund it is known as a pennanent endowmgnt and such a fund cannot rb)malty be spent as rf it were incom8. Incoming resources l incoming resources'ar8 Included in the stslement of flnanclal acttwtfjes when the charity Is entliled to the Sncome and the amount can be quantified wlh reasonable accuracy. The following specific Jlici8s are applied to particajlar catagorias of income-. Voluntary income is receNgd by way of grants, (bn8tions and gift8 and 18 induded in full in the Statement of Flnancial Actiwties {SoFAI when recelvable. Grdnts, vthere entitlement 18 not condilM)nal on the delivery of a specific performance by th8 charity. are recogni5ed when Ihe tharity becomes unconditionally entitkd to the grant. Investment income is induded vth8n r8c8ivabl8. Incoming re80lérL from tharitable trading acliwty are acLxiuntsd for en earned. InCming resources from grants, wher8 related to perfomianL and spacrfic dellv8rabl88, are acnted for as the tharity eams the right to Gonsideration by its pgrformance. ResIr¢e$ expended Expendlture is recognised on an accruals basis as a liabilty is incurr8d. E)¥enditure Indudes any VAT which Inr1 be fully recovered, and Is reported 8s part of the expenditure to lch it re181es: Costs of generating funds comprise the costs of trading for fundryraising purpose8. Charitsble expenditure comprises those costs incurred by the charty in the delivery of its activrtles and SeCeS to its beneficiaries. It includes both costs that can be allocated direclly to such aclmties and those costs of an indirect nature necessory to support them. G)vemance costs include those costs assoaatsd with meeling with the constitutional and statutory requirgments of the tharity and indude Lxjsts link8d lo the strategic management of the charity. I ¢Sts are allocate¢J beeen the expenditure categories of the SOFA on a basis d8sign8d lo reflect the use of the resource. Costs rel8Ung to a p8rt1cul8r activity are allocated direCU, others are apport¥Jned on an appropriate basis. Paga g
Lou {A company Ilmited by guarantee) ACCOUNTING POLICIES - corrtlnuod Investments and investment property Investments and investment properties are Investm8nts and prc¢)8rtg h81d to eam Income end rentals andlor for capstal apprechqtion. Investments and investment prop8i*es are initially measured 81 cost, including transactton costs. Subspquenuy investmenls and investment properties whose fair valu8 can be ffl&Ur8d reliably without undue cost or effort on an on4Joing basis are measured al fair valug. Gains and Ios8es arising from changes in the tslr value of investments and investment propertSes are Induded In the Income and Expgnditure Account in the period in 1¢h they arlse. Investments and inveslmgnt properties whose fair value eannot b6 measured reliabty vAthoul undu8 st or effort on an on-going basis are inGluded at cost less accumulated dopreciation and accumulated impaiment lossgs. Stocks Stocks are v81ued at the lowar of cost 8nd net realisable value, after maklng due atlowance for obsolete and slow moving itgms. Golng concern The dlrectors have undertak8n a rigorous assessment of ether the company is a going concem %then the aryUnts are prepared. They have tsken account of Ilquidity risk and othor uncertainties and hav8 considered all available Infomi8tion about the future. The director5 are not aware of any malgrial unrt8nI1e8 that may cast svJnfficanl doubl on the compatys ability to continue as a going concem. Therefore. th8 going concem basis for the preparation of Ihe accounts has been adopted. INCOME AND ENDOWMENTS Unrestrict•J Rothcted Funds Funds 30.11.25 30.11.24 Donatlons and l•gaci•s: Donatlons Collection box donat)n8 etc. 2.500 16 2.500 16 60 Oth•r trading activities: Calendar sales Book Sales 3,621 157 3,621 157 4.074 62 Investments: Bank interest re1vabl0 Incomo from asset investment funds kncome tax repay8ble on investment incom8 358 1,935 1,231 1.231 1,240 7.833 6.499 Page 10
IA company limited by guarantee) EXPENDrruRE Ra181ng AfhJcatl funds Basis Charitabl8 Govemance activities 30.11.25 30.1124 Costs directly allocaled to aclmtles: Calendar printing Cal8ndar phologr8phy competitN)n prizes Cost of bc4)ks sold Direct 2,651 2,651 2.601 75 62 75 62 Direct 60 Grants and Donatlons: Irvine Valky Walkng Festivel Dlrect Darvel Music Company Diroct Darvgl Old Folks Trip Direct Galston T(Kldlers Group Direct D8rvel 2025 Time Capsuie-'A Hi510ry of tha Imne Va119 SW 500 500 300 500 soo 300 5(KJ Direct Support costs allocated to •cti¥itio: Quilter - Investment fees Direct 663 Acuuntsncyfees Direct 900 900 900 4,929 NET INCOPAE FOR THE YEAR 30.11.25 30.1124 Th1818 Stated after ¢harglng.' Independent examinevs remuneralK)n (incl. prgparatlon of the financial statements £540 {2024.' £360)) 900 TRUSTEES REMUNERATION & RELATED PAR TrANSACTIONS No members of the management eommrttee received any remuneration and no expenses were reimbursed during the period under rgMgw {2024: £Nill. No Trustges or other parsoll rolated to thé charity had 8ny personal interest in any contract or transaction entered into by the th8rity during the period under rnvlew. During the period under ree. the Trust had no empbyae8 with &Th)tumanls exceding £60.00012024.. Nil). CHARITABLE DONATIONS During the period under rewew the Trust made charitsble donations lotalling £1,80012024: £1,005). This was comprlsed of donations of £500 to the Imne Valby Walking Festival. £500 to th8 Daml Muslc Company, £500 to Darv81 Old Folks TrSp arKI £300 to Galston Toddlers Group. Pagg11
Lou oun Val (A cijmpany limited by gu8ranlee) TAXATION Loudoun Valloy Trust is a charitable comp8ny within tha meaning of Section 467 of the Corporatlon Tax Act 2010. Accx)rdingly, the wmpany is potentially 8xempl from tax81K)n in respect of income or capital gains re¢eiv8d thin Categories covered by Chapter 3 of Part 11 of the Corporation Tax A 2010 and Sectn 25e of the Taxation of ChapJeable Gains Act 1992 to the extent that suth income or gain8 are applied for charitable purroses onty. No tax charg8s have arisen in the charity. FIXED ASSET INVESTMENT3 Investment proporty UK Listed investments Tolal COST OR VALUATION At 1st December 2024 Additn$ Disposals Rewdluation 500 61.136 12.489 (12,0221 4,804 61,636 12,489 112.022) 4.804 At 30th November 2025 500 66,407 66.907 NET BOOK VALUE At 30th November 2025 66,907 At 30th Novemèer 2024 500 61.136 61,636 Investmanl UK Listed property investments Valu8tion at 301h November 20251s represented by.. Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuats'on in 2024 Valuation In 2025 (24,710) 9,875 110.343) 2.131 6,866 4,038 53,840 25,210 500 66.407 If fixed a38et Investments had r1 been re-valugd tw would have been included 81 the followng historical cost: 30.11.25 30.11.24 Invaslmont property UK Listed lnvestrnts 25,210 53,840 25.210 52,607 79,050 77.817 Inveslment property was re•valued at its market value on 30th Novembgr 2025 by Mr. John Sharp. ong of the Trustees, who is a retired Chartered Surveyor. Inv8stm8nt property is comprised of a fomer Post Office building at 4 Brown Stre0( Nowmilns, whKh is Igt to Newmiln$ Regenerats'on Assoaation on a 25 year lease, measured at fair value through the Income and Expenditure Account. UK Listed investments were valued at their m8Tket value on 30th November 2025 by Quilter. UK Listsd investments are comprised of a Collective Investment Account administered by Quilter, ich is comprised of inv8stmgnt in unlls of differgnl investrnont funds, meosured al fair valu8 through tho Incomg and Expenditure Ac¢jnL Page 12
IA company limited ty guarantgBI 10. DEBTORS 30.11.25 30.11.24 Trade debtors other debtors 2,307 1,463 2.312 11. CREDrroRS: Amounts falllng duo wlthln one year 30.11.25 30.1124 Other credito 12. ANALYSIS OF NET ASSETS BETWEENUNDs Gen8ral Restricted Entknvment Totsl Funds Fund8 Funds Funds Investments Current assets Current liabilities 766 2,800 65,641 66,907 29,946 27.146 Net a88ets at 30th M)vember 2025 26,696 3,526 65,641 95,863 13. MOVEMENTS 14 FUNDS At1 Decombor Incoming Outgolng 2024 Resourwd Resourcey Transfers At 30th Novembw 2025 Endowm8nt funds: John Kirkland's Memori81 Fund Unapplied totsl retum funds 60.000 837 60,000 5.641 Total endowTn8nt funds 4,804 Re8trlcled funds: John Kirkland's Bursary Fund - Irwestrnent inc#)me 7681 3,526 Total r05tricted fvnds 3,054 1,240 Unrgstrlct•d funds: General funds 5.488 Totsl unrestricted funds 25,591 6,593 (5,488) 26,696 Tolal funds Pag8 13
(A company limited by guarantee) 13. MOVEMEpifs IN FUNDS . contlnued Purpos08 of Rgstrlctod Funds John lQrk18nd's Burs8ry Fund.. Thi5 fund i8 Ixrfnpri5ed of income and galns generat&l from John Kirkland's Mamorial Fund and aro to b8 used to provide finana81 assistanco by way of a bursary or other payment to a person living bcalty in INlne Valley. In thé first inslanco, prnrity is to be given to young peopk8 in relation to 8SSiSting financialty with furth9r educatn cnsts. 14. ULTIMATE coKfROLUNG PARTY c¢Jmpany was under the control of Its directors throughout tho rIOd under wew. P8g8 14