for th8 Yoar End
(A company Ilmlted by guaranleg)
Chorlty number SC022110
C¢xnpany numbgr SC147594 {S￿￿1nd)

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:
P￿￿8 or assi8t In the pffjwsion of public facilit￿8 for the inhab￿ants 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 Co￿ndar. Thank8 go lo the photographers, printers and the Trustees vtho manufacture, market and
distribute the Iryine Valley Calendar. for L￿ntInuing 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 reCe￿j 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 re￿eW 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 KI￿and'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 KIrk￿Thd 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 p0S￿On 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 p￿pIe 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 f￿rn 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 Wel￿being.
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
G0￿ming 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 fo￿ed Ur￿er 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. In￿ta￿onS and int8niigws.
Entitlemont lo appolnt In￿te•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
aCt1w￿e8.
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 n￿sSary 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￿]V￿e$ 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
Ne￿n11n5 bcrt)ks.
Th6 Trust is again running a photography cxjmpetibon in junction wth Loudoun Academ￿8 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 betsI￿n 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 f01h￿Ing year.
RESPONSIBILrriES OF ThE MANAGEMENT COMMITfEE
The management committee are reSponsi￿e 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 A￿unting 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.
mom￿r5 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 tr￿86 reeord5. It also indudes consideration of any unusual ttems or disclosures in
the acc￿u￿￿, and seeks explanations from the Trustee8 ￿ncernIng any such matters. The procedum8
undertaken do not provide all the eMdenc8 that Y￿uld 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 Acc￿nts 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 opin￿n. attent￿n 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)
ffl￿r 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 in￿rne and expendlture account The r￿ults 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 seC￿n 476 ofthe Companies Act 2006.
The directors acknO￿e￿9e 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 t￿mpanY.
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¢L￿rdance 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 R￿mmen(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 O￿tinUe.
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 restr￿tIonS 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.
InC￿ming resources from grants, wher8 related to perfomianL* and spacrfic dellv8rabl88, are
ac￿￿nted for as the tharity eams the right to Gonsideration by its pgrformance.
ResI￿r¢e$ expended
Expendlture is recognised on an accruals basis as a liabilty is incurr8d. E)¥enditure Indudes any
VAT which I￿nr￿1 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 Se￿CeS 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 be￿een 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¢)8rt￿g 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 ary￿Unts 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 un￿rt8￿nI1e8 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 re￿1vabl0
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 re￿e￿. the Trust had no empbyae8 with &Th)tumanls
exc*eding £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 Sect￿n 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
Addit￿n$
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 r￿1 been re-valugd tw would have been included 81 the followng
historical cost:
30.11.25
30.11.24
Invaslmont property
UK Listed lnvestrn￿ts
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 BETWEEN￿UNDs
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 educat￿n cnsts.
14. ULTIMATE coKfROLUNG PARTY
c¢Jmpany was under the control of Its directors throughout tho ￿rIOd under wew.
P8g8 14