CHARITY REGISTRATION NUMBER.. SC041044
MacQueen Bros Charitable Trust
Unaudited Financial Statements
30 November 2024
ME
Chartered accountants
5 Argyll SqLtare
Oban
Argyll
PA34 4AZ
ED

MacQueen Bros Charitable Trust
Financlal Statements
Year ended 30 November 2024
Page
Trustees, annual report
Independent examiner's report to the trustees
Statement ol financial activities
Statement of financial position
Noles lo the financial statements
The followlng pages do not forrn part of the flnancial statements
Detailed statement of financial activities
Notes to the detailed statement of financial activities
16
17

MacQueen Bros Charitable Trust
Trustees, Annual Report
Year ended 30 November 2024
The Irusiees present their rewrt and th8 unaudited financial slalem&nis ol thé charity for the year
eTrded 30 November 2024.
Referonce and admlnlslratlve detalls
Registered charlty name
Charlty r•gl8lralion number
MacQu&en Bros Charitable Trust
SC041044
Prlncipal office
Glengallan Road
Oban
PA34 4HG
The tru$l8e8
Independent examiner
DI R A Clemenl Associates C.A.
5 Argi'l nq..a'e
Oban
Arg01
PA34 4AZ
Slructure. govemance and rnanagement
General Purpo$e8
The Trust has general objeclives 10 advance such purposes as are charitable in law and lo achieve
this by raising lunds in or(Jer lo make gran15 and donations lo community groups.
Trustees
The charity and its property is managed by a CDmmittee comprising the officers and olhei mgmbers
electe¢J in accordance with the conslilulion. The olfi¢ers. being Ihe chair. secretary, and treasurer
along ￿th any committee rnembers are the "Iruslees ol tho charity.
There musl be a minimum of throg Irusiees but there is no maximum number. Aihough the ganeral
meeting elects the offi¢ers and olh8r Iruslees. the trustees may also appoint any sullable person who
is wlling to act as a ITUStee.
Membèrshlp
Mornbership is open lo all statt and partners ol MacQueen Br05 Ltd and any other individual upon
application lo the Iruslees. A regSster ol m¢rnbers is maintained and memters are eniitltrd lo vote al
the annual general meeting. There were 20 members during the year lo 30 November 202412023.. 201.
G•neral meetlng
A general méeiino is held once every year, or within 18 months ol the preeeding meeting. A quorum at
the rneelino consists ol on6 18nlh ol the lolal membership.

MacQueen Bros Charitable Trust
Trustees. Annual Report (coniitsvod)
Year ended 30 November 2024
Siructurej govemance and management (eonllnu8dJ
Rlsk pollcy
The tr(Jstees have assessed the major risks to which the charity is exposed, and in particular those
rela16d to the operations and finances ol the Trust, and are satisfied that systems are in ￿ace lo
mitigate any exposure lo these risks.
Reserves pollcy
The policy ol the Trust is lo aim lo relain sullicienl reserves 1¢ meet the cost of any regular
commilmenls, as well as a conlingency lo enable il lo continue lo develop further projects.
Scottl$h Charltable Incorporated Organlsallon {SCIOI
On 25 June 2015, the charity became a Scollish Charitable Incorporalg(l Organisalion. At that dale all
assets and liabilities ol the previou5 unincorpDraled Trust became the property ol the IncorpDraled
Organisalion. No change in Trustees or charitabl& objectives has taken place and the charity continues
lo operate in the same way. This Change in structure has been Irealed in the financial slalemenls as a
merger between the old enlily and the new one.
Obleetlves and actlvlties
Objectlves
The objectives ol the organisalion are lo assist local individuals and organisalions in Oban and the
surrounding areas.
The areas ol assistance are ¥Mde and in¢lude'.
The prevention or relief ol povety, the advancement ot education, the advancement of religion, the
advancement ol health, the saving of lives, the advancement ol citizenship or community development,
the advancemBnl ol the arts, heritage, culture or science, the advancernenl ol public participation in
spprt, the provision ol recreational lacililies. or the organisalion ol recreational a¢livilies with the object
ol Improving the conditions ol lifg for the persons lor whom the facilities or activities are primarily
intended, the advancement ot human rights, conflict resolution or reconciliation, the promotion ol
religiou5 or racial harmony, the promotion ol equality and diversity, the advancement ol environmental
protection or improvement, the relief ol those in need by rea50n ol age, ill health, disability, financial
hardship or other disadvantage, the advancement ol animal welfare.
The charity tries to achieve its objectives by providing grants lo Itsc81 charitable and community groups
who go through the application process.
Aeh19vemenls and performance
Following the sale ol Slonelield Ithg rental property) the Charity has no income on a regular basis, all
donations ol furniture elc have been forwarded onto Oban Communities Trust for their 2nd hand goods
shop. As a result ol this awards made by MBCT have been greatly reduced.

MacQueen Bros Charitable Trust
Trustees, Annual Report fconllnu•dJ
Year ended 30 November 2024
Flnanciol revlew
Sale ol Invostments
Ouring October 2019 the Novia Invesifflenl was converted to cash. On 7 November 2019 f120,OOL)
was paid lo Oban Comrnunilies Trust As a bridging loan. This sum was due lo bo fully repaid in March
2020 Covid-19 delayed the completion ol the works ancl repayment was delayed. £40.000 ol the
original loan was rppaid In February 2021 and the balance of £80,000 Is being used to help with further
r8lurbishmenl works. 11 is anticipalefj that this balance will be iepaid within two years.
The Iruslees, annual report was approv9d on
and signed on behalf ol the board ol

MacQueen Bros Charitable Trust
Independent Examlner's Report lo the Trustees ol MacQueen Bros Charltable
Trusl
Year ended 30 November 2024
I report lo the Iruslees on my examination ol the financial 51alemenls of Ma¢Queen Bros Charitable
Tru51 {'Ihe charity'l lor the year ended 30 Novemb8r 2024.
Flesponglbllllles and basis of reporl
As the Iruslees ol the charity you are responsible lor the preparation ol the financial slalemenis in
accordanee with the requirements ol the Charities and Trustee Investment (Scollandl Act 2005 Ilhe
'2005 Act'l and the Charities Accounts Iscollandl Rggulaiions 2006 las amendedl. You are satisli9d
that YOUT charity is not required by charily law to be audited and have chosen instead to have an
independent examination.
I reporl in respect ol my examination ol the charills linan¢ial slalements as Carried out under section
441lllcl ol the 2005 Act. In carrying out my examination I have followed the requirements ol
Regulation 11 01 the Charities Accounts Iscouandl R¢gulalions 2006 las amended).
Independent examlner'8 Statement
Since the charty has prepared its accounts on an accruals basis your examiner musl be a member ol
a body listed in Regulation 11121 ol the ChaTlties Accounts Iscotlancll Regulations 2006 las amended).
I can contlTm that l am qualified lo undertake th& examination bgcause l am a registered menber ol
the Association ol Charter8d Certified Aceounlanls which is one ol the Ilsied bodies.
I have completed my examinatlon. I confirm that no matters have come lo my attention gwing me
cause lo believe that in any material re5pecl'.
accounling records were not kept as required by sfyclion 441lllal of the 2005 Act and
Regulation 4 01 the Charities Accounts IS¢oiiandl Regulations 2006 las amended),. OT
the financial glalemenls do not accord with those records., or
the financial sia19menis do not comply wlh the accounting requiremenls ol R9gulallon 8 01
the Charili&s A¢counts (Scolland) Regulaiions 200618$ am6ndedl.
I have no Concerns and have come acloss no other matters In connection with the examination lo
whieh allenlion should be drawr. in Ihi5 rePC￿ l* p.rrt.-
aceoui?'.S ',0 b2 roach
R A Glemen-. Associates C A.
Indtpelldenl Exainiiier
5 Argyll Squa
Oban
Argwi
PA34 4AZ

MacQueen Bros Charltable Trusl
Statement of Flnancial Actlvilies
Year ended 30 November 2024
2024
Unreslricled
funds Total fund8 Total fund5
2023
Not•
Income and endowments
Donations and legacies
Charitable aclivilles
2,600
2,001
4,601
Total income
Expendlture
Expenditure on charitable aclivilies
Total expendllure
1,944
1,944
1,944
1,944
6,661
6,661
Net expendlturè and net movement In funds
11.9441
11,9441
12,0601
Reconelllatlon of funds
Total funds brought forward
Total funds carrled forward
310,121
310,121
308,177
312,181
310,121
308,177
The statement of financial aclivilies includes all gains and losses Tgcognised in the year.
All income and expenditure derive from continuing aclivilies.
Th• notes on pages 7 to 14 forrn part of Ihese Ilnanclal statem8nis.

MacQueen Bros Charilable Trust
Statement of Flnanclal Posltion
30 November 2024
2024
2023
NDte
Flxed assets
Tangibl8 fixed 85sels
12
104
Current assets
Debtors
Cash al bank and In hand
13
80,000
229,317
309.317
80,000
231,157
311.157
Crèditors.. ttmounls lalllng due wlthin one year
Nei currenl asso18
14
1,140
1,140
308,177
308,177
308,177
310,017
310.121
Total a$¥et8 less current Ilabllltles
Net assets
310,121
Funds of the ¢h•rlty
Unreslricled lufjds
308.177
310,121
310,121
Tolal charlty lund8
15
308,177
Th95e financial siatements were approved by the board ol Iruslees and aulhorise(I lor issue on
and are signed on behalf ot the board by-
The not￿ on pagtr5 7 to 14 fom part ol th880 flnanclal stai?mgnt9.

MacQueen Bros Charitable Trust
Notes to the Flnanclal Statements
Year ended 30 November 2024
Gèneral Informatlon
The charity is a public benefit ¢nlity and a registered charity in Scotland and is unincorporated.
The address ol the principal ottice is Glengallan Road, Oban, PA34 4HG.
Statemenl of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic ol Ireland,, the Sialemenl of
Recommended Practice applicable lo charities preparing their accounts in aecordance with the
Financial Reporting Standard applicable in the UK and Republi¢ DI Ireland IFRS 1021 (Charities
SORP IFRS 10211 and the Charities and Trustee Investment Iscollandl Aet 2005 and the Charity
Accounts IS¢ollandl Regulations 2006 las amended).
Accountlng pollcles
Bas1$ of preparation
The financial slalements have been prepared on the historical cost basis, as modified by the
revaluation ol certain financial assets and Iiabililies and investment properties measured al lair
value through income or expenditure.
The financial Slal8menls are prepared in sterling, which is the lunetional currency ol the enlily.
Golng concern
There are no material uncertainties about the charills ability lo continue.
Dlsclosure exemptlons
The entity salislies the criteria ol being a qualifying entity as defined in FRS 102. As such,
advantage has been taken ol the tollowing disclosure exemptions available under paragraph 1.12
of FRS 102.
lal No cash flow statement has been presented lor the company.
Ibl Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estlmatlon uncertalnty
The preparation of the financial slalemenis requires management to make judgements,
eslimales and assumptions that allecl the amounts reported. These estimates and judgements
are coniinually reviewed and are based on experience and other laclors, including expe¢lalions of
lulure events that are believed lo be reasonable under the circumsiances.

MacQueen Bros Charitable Trust
Notes to Ihe Financlal Ststements (eonllnu8dJ
Year ended 30 November 2024
Accounllng pollcles (COllllnued}
Fund a¢countlng
Unreslricled funds are available lor use al the discretion ol the trustees lo further any ol the
charitys purposes.
Designated funds are unreslriclgd funds earmarked by the Iruslees lor particular lulure project or
eornmilmeni.
Restricted funds are sijbjecled to reslriclions Dn their expenditur8 declared by the donor or
through the terms ol an appeal, and fall into one ol two sub-classes.. restricted income funds or
endowment funds.
Income
All income is included in the statement of financial activities when enlillemenl has passed lo the
charity, it is probable that the economic benefits associated with the transaction will flow lo the
charity and the amount can be reliably measured. The following specific policies are applied lo
particular categories ol income..
income from donations or grants is recognised when there is evKlence ol enlillemenl lo the
gill, reeeipl is probable and ils amount can be measured reliably.
legacy income is recognised when receipl is probable and enlillemenl is established.
income Irorn donated goods is measured al the fair value of the goods unless Ihis is
impractical lo measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
when received il the value can be reliably m&asured. No amounts are included lor the
eonlribulion ol general volunteers.
in¢ome from contracts lor the supply ol setvices is recognised with the delivery ol the
eontracted service. This is classified as unrestricted lunds unless there is a conlraclual
requirement lor il lo be spent on a particular purpose and returned il unspent, in which case il
may be regarded as reslricled.

MacQueen Bros Charitable Trust
Notes to the Flnanclal Statements (conMnu8d)
Year ended 30 November 2024
Accounting pollcle$ (eontlnued)
Expendllure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure inclurJe5 any
VAT which cannot be lully recovered, and is classified under headings ol the statement of
financial activities lo which il relates..
expenditure on raising funds includes the costs ol all fundraising aclivilies, events, non-
charitable trading aclivilies. and the sale of donated goods.
expenditure on charitable aclivilie5 includes 811 costs incurred by a charity in undertaking
activities that lurth&r ils charitable aims lor the benefit ol ils beneticiaries, including those
support costs and costs relating to the governance ol the charity apportioned lo charitable
aclivilies.
other expenditure includès all expenditure that is neither related lo raising funds for the
charity nor part ol ils expenditure on eharilable activities.
All costs are allocated lo expenditure categories reflecting the use ol the resource. Direct COSIS
attributablè lo a single activity are allocated directly lo that activity. Shared costs are apportioned
tween the activities they contribute lo on a reasonable, justifiable and consislenl basis.
Tanglble assets
Tangible assels are initially recorded al cost, and subsequently slated al cost less any
accumulated depreciation and impairment losses. Any tangible assets carried al revalued
amounis are recorded al the fair value at Ihe dale ol revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount ol an asset as a result of a revaluation, is recognised in other
recognised gains and losses. unless il reverses a charge lor impairment that ha5 previously been
recognised as expenditure wlhin the Statement ol financial activities. A decrease in the carrying
amount ol an assel as a result ol revaluation, is recognised in other recognised gains and losses,
except lo which il olfsels any prewous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the slalement ol financial aclivilies.
Depreclallon
Depreciatign is calculated so as to write oll the cost or valuation ol an asset. less ils residual
value, over the useful economic life ol that asset as follows..
Plant and machinery
Invoslments
25Yo slraighl line
Unlisted equity investments are initially recorded al cost, and subsequently measured at lair
value. If lair value cannot be reliably measured, assets are measured al cost less impairment.
Listed investments are measured al lair value with changes in lair value being recognised in
income or expenditure.

MacQueen Bros Charitable Trust
Notes to the Flnancial Statemenls (¢onllnuedJ
Year ended 30 November 2024
Accountlng pollcles (¢ontlnueOJ
Invgslmenl property
Inveslmenl property is initially recorded at cost, whlch includes purchase price and any directly
atlribulable expenditure.
Investment property is revalued lo ils lair value al each reporting dale and any changes in lair
value are recognised in income or expenditure.
11 a reliable measure of fair value is no longer available wilhoul undue cost or ellort lor an item of
investment property, il shall be tran51grred lo tangible assets and Irealed as such until il is
expected that lair value will be reliably measurable on an on-going basis.
Impalrment ol flxed assets
A review lor indicators of impairment is carried out al 8ach reporting dale, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed lor
possible reversal al each reporting date.
For the purposes of irnpairment lesling, when il is not possible lo estimate the recoverable
amount ol an individual asset, an estimate is made ol the recoverable amount of the cash-
generating unil lo which the asset belongs. The cash-generaling unit is the smallest idenliliable
group ol assets that includes the asset and generates ¢a5h inflows that largely independent ol the
cash inflows from other assets or groups of assets.
For impairment testing ol goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated io each ol the cash-generaling units that are expected lo benefit from
the synergies ol the combinatlDn, irrespective ol whelhei other assets or liabilities ol ihe charity
are assigned to those unrts.
Flnancial Instruments
A financial asset or a financial liability is recognised only when Ihe charity becomes a paty to the
conlractuai provisions ol Ihe inslrumeni.
Basic financial instruments are initially recognised al the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured ai the cash or other
consideration expected lo be paid or received and not discounted.
Debt instruments are subsequently measured al amortised cost.
Where investments in shares are publicly traded or their lair value can otherwise be measured
reliably, the investment is subsequently measured al lair value with changes in lair value
recognised in income and expenditure. All other such investments are subsequently measured al
cost less impairment.
10

MacQueen Bros Charitable Trust
Notes to the Flnancial Statements I￿ni1￿￿8￿)
Year ended 30 November 2024
Accountlng pollcles (¢onllnued)
Fln8nclal Instruments (coniitsuoGI)
Other financial inslrumenls, including derivatives, are initially recognised at fair value. unless
payment lor an asset is deferred b&yond normal business lerms or financed at a rale ot interest
that is not a market rate, in which ease the asset is measured al the present value ol thè future
payments discounted at a market rate of interest lor a similar debt instrum&ni.
Other linancial instruments are subsequently measured al lair value, with any changes
recognised in the slalement ol financial aclivilies, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured al cost or amortised cost are reviewed lor objective evidence
ol impairment al the end of eaeh reporting dale. 11 there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the slalement ol financial
activities in which the initial gain was recognised.
For all equity instruments regardless ol significance, and other financial assets thai are
individually signilicanl, these are assessed individually lor impairment. Other financial assets are
eilh8r assessed individually or grouped on the basis of similar eredil risk characlerislics.
Any reversals ol irnpairment are recognised immediately, lo the extent Ihal the reversal does not
result in a carrwng amount ol the linaneial asset that exceeds what the carrwng amount would
have been had the impairment not previously been recognised.
Oonatlons and legacles
Unreslricled Total Fund9 Unreslricled Total Funds
Funds
2024
Funds
2023
Donatlons
Donations
2,600
2,600
Charllable a¢tlvltles
Unreslricled Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Other income from charilablp activities
2,001
2,001
Expgndlture on charltable acllvltle$ by fund type
Unreslrieted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
General activities
Support costs
1,104
840
1,104
5,707
954
5,707
954
1,944
1,944
6,661
6.661
11

MacQueen Bros Charitable Trust
Noles to the Financlal Statements (contlnu•d)
Year ended 30 November 2024
Expendllure on charitable actlvltles by actlvlty type
Activities
undertaken
directly Support costs
Total lunds
2024
Total fund
2023
General activities
Governance costs
1.104
1,104
840
5,707
954
840
1.104
840
1,944
6,661
Nel expendllure
Nel expenditure is slated after chargingllcredilingi..
2024
2023
Depreciation ol tangible fixed assets
104
189
Independent examlnatlon fees
2024
2023
Fees payable to the independent examiner for..
Independent examination ol the financial slaternenls
840
954
10. Staff costs
The average head count ol employees during the year was Nil12023'. Nill.
No employee received employee benefits ol more than £60,000 during the year12023'. Nill.
11. Trustee remuneratlon and expenses
The charity trustees were not paid and did not receive any remuneration. benefits in kind or
reimbursement ol expenses in their capacity as trustee during the year. No trustee received
payment lor professional or other services supplied lo the charity.
12

MacQueen Bros Charitable Trust
Notes to the Flnancial Statements (eonHnv*dJ
Year ended 30 November 2024
12. Tanglblo flxed assets
Plant and
machlnery
Cost
At 1 Dec 2023 and 30 Nov 2024
10,160
Depreelalion
Al 1 Dec 2023
Charge lor the year
At 30 Nov 2024
10,056
104
10,160
Carrylng 8mount
At 30 Nov 2024
AI 30 Nov 2023
104
13. Debtors
2024
2023
Other debtors
80,000
80,000
14. Creditors: amounts falllng due wlthln one year
2024
2023
Accruals and delerred income
1,140
1,140
15. Analysls of charltable lunds
Unreslrlct¢d funds
At
Income Expenditure 30 Nov 2024
At 1 Dec 2023
General funds
310,121
11,9441
308,177
Al
Income Expenditure 30 Nov 2023
Al 1 Dec 2022
Gengral funds
312,181
4,601
16.6611
310,121
13

MacQueen Bros Charitable Trust
Notes to the Flnanclal Stalements (coniinu•dJ
Year ended 30 November 2024
16. Analy819 ol not assets between funds
Unrestricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Nel assets
309,317
11,1401
308,177
309,317
11,1401
308,177
Unrestricted Total Funds
Funds
2023
Tangible h'xed assets
Curreni assets
Creditors less than 1 year
Net assets
104
311,157
11,1401
310,121
104
311,157
11,1401
310,121
14

MacQueen Bros Charitable Trust
Management Information
Year ended 30 November 2024
The followlng pages do not form part of the linancial slalements.
15

MacQueen Bros Charitable Trust
Detalled Statement of Flnanclal ActlvFties
Year ended 30 November 2024
2024
2023
Income and endowments
Donallons and legacies
Donations
2,600
Charllable actlvlties
Other incom8 Irorn charitable activities
2,001
Total Income
4,601
Expendllure
Expendllure on charitable acllvltles
Repairs and maintenance
Other molorllravel costs
Legal and professional fees
Depreciation
Community grants
13181
14,0001
19541
11891
11,2001
16,6611
18401
11041
11,0001
11,9441
Total expenditure
11,9441
16.6611
Nel expendlture
11,9441
12,0601
16

MacQueen Bros Charitable Trust
Notes lo the Detailed Statement of Financlal Activities
Year ended 30 November 2024
2024
2023
Expendlture on ¢haritable actlvltle$
General actlvitles
Aclivltles undertaken dlrectly
Refuse disposal
Trailer maintenance
Depreciation
Community grants
13181
14.0001
11891
11,2001
15.7071
11041
11,0001
11,1041
Govemance costs
Governance costs - accountancy lees
18401
19541
Expendlture on charltable acllvltles
11,9441
16,6611
17