MARGARET STEEL CHARITABLE TRUST (No 2) Report of the Trustees and Accounts for the year ended 31 December 2025 Scottish Charity No: SC031256
MARGARETsfEELCHARITABLE TRUSTINO. 21 YEAR ENDED 31 DECEMBER 2025 Contents Pages References & Administrative Information Trustees, Annual Report Independent Examinerfs Report Receipt and Payments Account Notes to Account
MARGARET STEELCHARITABLETRUST INO. 21 YEAR ENDED 31 DECEMBER 2025 Reference and Admlnlstratlve Informatlon Charity TrIRme: Margaret Steel Charitsble Trust (Tr40.2) Charity Registration Nurnber: SC 031256 Contact Addrts$: JSHWatt Craig Arsig 74 Bonllethill Road Pitlochrv PH16 SED Trustee$: JSHWatt Mrs V Wilkie Mr M B&rDicott (Resigned 01105121125) Mr H M¥tkintosh (Appoirtted 0110512025) Office B¢arer¥: Minlster: Rev M Foster Joint Session Clerks: Mrs V WilkTe Chureh Treasurer: JSHWatt Independent ExAminer: ,lfr Graee Toueh C. BK Plus 26-30 BoDnethlll Road Pltlochry PH16 SBS ker5: The Church of &*COtIAnd Investor$ Trnst 121 George Street Edinburgh EH2 4YN
MARGARET STEELCHARITABLE TRUST (No. 21 YEAR ENDED 31 DECEMBER 2025 Trustees, Annual Report structure. Governan and Management Governlng Dotument The Trust is adrninistered in accordance with the Deed of Trust dated 18thJanuary 20013nd the Supplementèry Deed of Trust registered in the Books of the Lords of Coullcll and Session, Edinburgh on 20th June 2013 Recruitment and Appointment of Trustees The Minister. Session Clerk, Clerk to the Congregatlonal Board and Treasurer of Pitlochry Church of Scot5and untll l March 2013 and thereafter the Minister, Session Clerk, 3nd Treasurer tsf Pitlochry Church of Scotland along with one Elder of Pitlochry Church of Scotland elected at tt5 relevant Annual Trustees meeting of Pitlochry Church of Scotland. such eletted Elder to Serve a three year term of office. Organisational Strutture The Trustees hold an annual meeting and addltlonal meetings as required. OneTru5tEe is tasked to keep the minutes of each meeting so called. Oblettives and Artlvltles The Funds of the Trust are to be applied for the benefft of Pttlochry Church of Scotland and without prejudice to the foregoingto contribute. promote, foster. encourage further or otherwise benefit the charitable purposes connerted to PitSochry Church of Scotland and to promote, organise or carry out educational activities in eonnection therewith. Achlevements and Performance The Trustees met on one occasion thi5 year, the Annual Meeting on 6 April 2025. As at the 31 December 2025 there have been no appllcations for funding from Pitlochry Church of Scotland for the year. Flnancial Revlew The Trustees are constantly looking for ways in which the objectives of the Trust may be promoted and applied to support relevant needs. Investment Income and Interest Investment Income and Bank and Deposit Interest amounted to £1,68912024.. £1.8091. There was an excess of receipt5 over payments of £1,68912024= £1.8091. Gains on revaluation of Growth Fund and Incorne Fund amounted to £2,43512024.' gains £2,206). The COSIT Deposit Fund closed on 31" December 2025 at £3,838 12024.. £2.1491. In addition, the Investments at Market Value on the same date were valued at £45.81412024.. £43,379). The total value of the Trust 35 of 31st December 2025 stands at £49,65212024.. £45,528).
MARGARET STEELCHARITABLE TRUST INO. 21 YEAR ENDED 31 DECEMBER 2025 Reservès Policv The Trustees have no specific resèrvé5 policy being empowered to apply the income and capital without rèstriction, to the furtherance of the objectives of the Trust. Statement of Trustees. Responstbilittè5 The Trustees must prepare financial statement5 which give sufficient detail to enable èn appreciation of the transactions of the Trust dvring the financial year. The Trustees ère responsible for keeping proper accounting records which, on request must reflect the financial position of the Trust at thattime. This must be done to ensure that the financial statements comply with Charities and Trustee Investment IScDtlandl Act 2005 and the Charities Accounts (Scotlandl Re8ulations 2006. They are also responsible for safeguarding the asset5 of the Trust and must take reasonable steps for the prevention andlor detettion of fraud and other irregularitie5. Approved by the Trustees and signed on thelr behalf Virginia Wilkie John S H Watt Session Clerk- Pitlochry Church of Scotland Trea5urer- Pttlochry Church of Scotland Date.. .71-. (J.b.-
MARGARtr STEEL CHARITABLE TRUST (No. 21 YEAR ENDED 31 DECEMBER 2025 Independent ExamineVs Report to the Trustees of the Margaret steel Charltsble Trust INO 21 I report on the accounts of the Charity for the year ended 31 December 2025 which are set out on page5 6-7. Respettivè Responslbllltles of Trustèes and Examiner The Charl5 Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotlandl Act 2005 and the Charitie5 Accounts Iscotlandl Regulations 2006. The CharttyTrustees consider that the audit requirements of Regulation 10111 lal to Icl of the Accounts Regulation does not apply. It is my responsibility to èxamlne the accounts as required under section 44111 Icl of the Att and to state whether particular matters have come to my attention. Basls of Independent Examlnerfs Statement My examination is carried out Sn accordance with Regulation 11 of the Charities Account5 (Scotlandl Regulations 2006. An examlnation include5 a review of accounting records kept by the Charity and a comparison of the accounts presented with the records. It also includes consideration of any unusual items or disclosur@s in the accounts, and Seeks explanations from the Trustees concerning any such matters. The procedure5 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 Examlnerfs 5tstement In the course of my examination, no matter has come to my attention which gives rne reasonable cause to believe that in any material respect the reouirements-. to keep accounting record5 have not been kept in accordance with Section 44111 lal of the Charities and Trustees Investment (Scotlandl Act 2QXJ5 and Regulation 4 of the 2006 Accounts Regulations and to prepare accounts which accord with the accounting rectsrds and comply with Regulation 9 of the 2006 Accounts Regulations have not been met or to which, in my opinion. attention should be drawn order to enable proper understsnding ofthe accounts to be reached. Signed.. Name= Graeme Tough C.A. Address.. BK Plus 26-30 8onnethill Road Pitlochry PH16 5BS Date..
RESTRicfED FUNDS HELD ON BEHALF OF THE CONGREGATION BY THE MARGAR STEEL TRUSTEES YEAR ENDED 31 OECEMBER 2025 2025 2024 Receipts Attivitie5 for Generating Funds Bank & Deposit Interest Investment Income 233 1,575 1,576 From sale of Units 1.689 1,809 Payrnents Excess of receipts over payments 1,689 1,809 Bank & Deposit Ba18n5 Bank & Deposit Ba13nces b/fwd 2,149 10,340 Movement in Year Purchase of Unit5 Excess of receipts over payments before transfers 1.689 1,80g Transfer to Pitlochry Church of Scotland as contribution to theTryst heating iO,OL Cash Balance in Deposit A/C 3.838 2.149 Investments at Market Value b/fwd IC05t £31,9841 43,379 41,173 Sale of Investments Realised Loss on sale of investments Gain on revaluation 2.435 2,435 2,206 2,206 Closing Balance of Investments to CIF 45.814 43,379 Value of Funds held 35 of 31 Oec 2024and 31 Dec 2025 COSIT Growth Fund COSIT Income Fund 25,346 ZON68 3,838 49.652 23,504 19,875 2,149 45.528 CO5 Deposit Account
Maryaretsteel Charltable Trust IN0.21 Notesto Accounts YEAR ENDED 31 OECEMBER2025 Trustee Remuneratlon at)d Related PartyTransartlons NoTrustee received any remuneration or reimbursementof expenses durlngtheyeèr. No Trustee ora person related to a Trustee had any personal iftterest in any contractertraDS3Ction entered Into by Movementln Funds Z025 2024 Fund5 held in Dep05ltAccount asof January 1st 2,149 10,340 Receiptsforyear Payments foryear 1,689 1,809 10,000 DÈposlt Fund 8aL3nce as of 31st December 3.838 2,149 Investments Marketvalue at 15tJanuèry 43,379 41.173 Unrealised G&inllLcssl en Investment5 2,435 2.206 Market Value asof 31st Oecember 45.814 43,379 Summary Thefollowing lth¥estments are now held at)d arevalued a5 at31st December 2025 Church of kotland Investors'Tru5t Unitprite Unit Holdln85 F¥ndValue Growth Fund Market Value at 315t Dember 2025 £6.88 3,684 25,346 Income Fund Marketvalue at31st Decetnber 2025 £11.39 797 20A68 COSTh DeposltA¢count 3.838 Total Fund Value as of 31st Decernber2025 49.652