Mudhook Yacht Club Charitable Trust Registered Charity No. SC031578 Trustees’ Report & Accounts For the year ended 31 December 2025
Mudhook Yacht Club Charitable Trust
Registered Charity Number – SC031578
Trustees’ Report & Accounts
For the year ended 31 December 2025
CONTENTS
| Pages 1-2 | Report for the year ended 31 December 2025 |
|---|---|
| Page 3 | Receipts & Payments Account for the year ended |
| 31 December 2025 | |
| Page 3 | Statement of Balances as at 31 December 2025 |
| Page 4 | Independent examiner’s report on the accounts for |
| the year ended 31 December 2025 |
Mudhook Yacht Club Charitable Trust
Registered Charity Number – SC031578
Trustees’ Annual Report for the year ended 31 December 2025
Principal Address : Wright, Johnston & Mackenzie LLP, 319 St Vincent St, Glasgow G2 5RZ
Bankers: Bank of Scotland plc
Investment Manager: Evelyn Partners Investment Management LLP
| Trustees | J.B.W. Park | Chair & Admiral MYC |
|---|---|---|
| J.W.R. Watson | ||
| T.R. Esson | Treasurer MYC | |
| J.W. Douglas | ||
| I. Macdonald | ||
| H.J. Morrison | Secretary MYC |
Governance
The Charity’s governing document is a Trust Deed dated 9 May 2001 and registered in the Books of Council and Session
The Admiral, Secretary and Treasurer of the Mudhook Yacht Club are trustees of the Charity ex officio when in office. The other initial trustees were appointed by the Mudhook Yacht Club with successors by the trustees then acting. There must always be at least four trustees.
Objectives and Activities
Charitable Purposes
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To advance education and practice of seamanship and sailing with a view to improving safety.
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To provide facilities for leisure activities particularly connected with sailing.
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To preserve for public benefit craft etc. and records in connection with sailing.
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To benefit such other charitable object or objects as the Trustees think fit.
Main activities
The Charity continued to invest funds and raise donations to secure sufficient income to make grants to deserving applicants.
Achievements during the year
During the year donations received amounted to £1,546 (2024 - £1,971) together with investment income £3,028 (2024 - £2,983).
Further donations for 2024 and 2025 totaling £868 received on behalf of the Trust by the Mudhook Yacht Club were received on13 February 2026
Two grants totaling £2,250 (2024 – £2,509) were paid in the year.
| Strathclyde University Sailing | BUSA Match Racing and Yachting | |
|---|---|---|
| Club | Championships -Miss Freya Sharp | £750 |
| RYA Student Disabled Sailing | Rory McKinna | £1,500 |
Page 1
Mudhook Yacht Club Charitable Trust
Registered Charity Number— SC031578
Financial Review
Surplus (2024 - deficit) for year
There was an increase in liquid funds of £1,596 (2024 — decrease £3,032) from £11,126 (2024 - £14,158) to £12,722 (2024 - £11,126) due to a surplus of investment and donation receipts over payments during the year as disclosed in the Receipts and Payments Account on Page 3. The “revenue” surplus for the year amounted to £1,596 (2024 - £2,943)
Investments
The overall value of the investment portfolio increased by £13,005 (2024- Increase £12,723) from £123,998 to £137,003 with net cash invested in the year of £Nil (2024 - £5,975). Disposals of £Nil gave rise to a net gain on disposal of ENil (2024 £2,782). ENil was invested during the year (2024 - £18,056).
Reserves
All funds are unrestricted.
The combined value of the Cash Funds and Investments at 31 December 2025 was £149,725 (2024 - £135,124)
The Trustees’ aim for the future is to continue to build the reserves of the Trust with a view to providing increased and sustainable income for distribution by way of future grants.
Donated Services
The Trustees, Examiner and professional advisers have given of their time at no cost and/or expense to the Trust.
Declaration
The Trustees declare that they have approved the above report.
Signed on behalf of the Trustees.
John B.W. Park
Chair
Lhay March 2026
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Mudhook Yacht Club Charitable Trust
Registered Charity Number — SC031578
ReceiptsFor the yearandendedpayments31 Decemberaccount 2025
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||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2025|2024|2024|
|Receipts|£|£|£|£|
|Donations|1,546|1,971|
|Gift|Aid|Tax|Recovery|-|1,170|
|Investment|Income|3,028|2,983|
|4,574|6,124|
|Receipts|from|investment|sales|-|12,081|
|Total|Receipts|4,574|18,205|
|Payments|
|Grants and|donations|2,250|2,509|
|Investment|management|costs|728|672|
|2,978|3,181|
|Purchase|of Investments|a.|18.056|
|Total|Payments|2.978|21,237|
|Surplus(deficit)|for year|1,596|3,032|
|Further|donations|for 2024|and|2025|totaling|£868|received|on|behalf of the|Trust|by|the|
|Mudhook Yacht Club|were|received|on13|February|2026|
|Statement|of|Balances|
|Cash|funds|
|Cash|at|bank|and|stockbrokers|
|At|start|of year|11,126|14,158|
|Surplus|/(Deficit)|1,596|(3.032)|
|Cash|at|bank|and|stockbrokers|
|At|end|of year|12.722|11,126|
|Investments|Market Value|Market value|
|Stocks|&|Shares|portfolio|
|Cost|£101,970|(2024|£101,970)|137.003|123,998|
|All|funds|are|unrestricted.|
|a|
|Signed on|behalf of the Trustees|Po|
|John|B W Park|Lyte|March|2026|
----- End of picture text -----
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Mudhook Yacht Club Charitable Trust
Registered Charity Number — SC031578
Independent examiner's report on the accounts for the year to 31 December 2025 and set out on pages 1 to 3
Respective The charity's trustees are responsible for the preparation of the responsibilities | accounts in accordance with the terms of the Charities and Trustee of trustees and _ Investment (Scotland) 2005 Act and the Charities Accounts examiner (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. 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.
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Basis of My examination is carried out in accordance with Regulation 11 of independent the Charities Accounts (Scotland) Regulations 2006. An examiner’s examination includes a review of the accounting records kept by the statement charity and a comparison 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 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, | do not express an audit opinion on the accounts.
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Independent In the course of my examination, no matter has come to my examiner's attention statement
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which gives me reasonable cause to believe that in any material respect the requirements:
e to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
- e to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or 2. to which, in my opinion, attention should be drawn in order to
i e accounts to be reached.
Name: Ronald C Wilson pe
Relevant professional Chartered Accountant qualification: Address: 32 Doonfoot Road Ayr KA7 4DN
Page 4