MARY’S MERCURY TRUST Registered Charity No. SC044289
Trustees’ Report and Accounts For the Year Ended 5 April 2025
MARY’S MERCURY TRUST Registered Charity No. SC044289
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
The trustees present their report and the financial statements for the year ended 5 April 2025, which have been prepared in accordance with the charity’s Trust Deed and the accounting policies set out on page 7.
Administrative Information
Address
Trustees
The trustees who served during the year under review and up to the date of this report are
airman (Appointed 2 August 2024) cretary Treasurer ed 3 October 2025) esigned 2 August 2024)
Thetrusttrusteesand for herwishChairmanshipto record theiruntilimmenseher resi g nr ati ontudedue > eeustfounding they also greatly regret the sad circumstances which necessitated the removal of Ss a Trustee. His contribution as treasurer and wise counsel have always been much appreciated and he and his family remain in the thoughts of the trustees.
Constitution
Mary’s Mercury Trust is governed by a Trust Deed which was adopted on 23 September 2013. It was granted charitable status by OSCR on 30 September 2013. Under the constitution there must be a minimum of three and not more than ten trustees.
Appointment and Induction of Trustees
New trustees are nominated by existing trustees and their appointment confirmed by Deed of Assumption. New trustees are given copies of the trust’s governing document, and most recent accounts as part of their induction, which includes the history and founding principles of the trust. They are made aware of the duties and responsibilities of charity trustees and given such other induction as may be thought appropriate. The secretary brings trustees’ attention to any regulatory changes and all trustees are encouraged to browse the OSCR website from time to time.
Trustee Interests and Expenses
aawarded).
an interest in the application from Dundee Therapy Garden (£5,000
No trustee received any expenses or remuneration from the trust in the year under review.
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No trustee received any expenses or remuneration from the trust in the year under review.
Charitable Purposes
The provision of financial support to charities and voluntary organisations, primarily focussed on Angus and Kincardineshire. The trustees have a particular interest in helping organisations overcome unexpected costs, e.g. flood/fire damage replacement.
Activities
Having built up funds over previous years, the trustees were pleased to make a number of disbursements during the year under review. The Trust continues to provide financial support to charitable organisations.
Financial Review
Income is derived solely from investments held on behalf of the Trust by Interactive Investor Ltd. Total income during the period was £67,825. In addition to dividend payments and interest, this sum included a cash distribution on one investment and change in investment value over the review period as detailed at p.4 below. Total expenditure was £22,696. Grants are made out of income and not capital funds and the trustees are satisfied that the Trust remains in a sound financial position.
Approved by the trustees on 31 December 2025 and signed on their behalf by
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MARY’S MERCURY TRUST Registered Charity No. SC044289
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARY’S MERCURY TRUST
I report on the accounts of the charity for the year ended 5 April 2025, which are set out on pages 1 and 7.
Respective responsibilities of trustees and independent examiner The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.
Basis of independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the 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, I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In the course of my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
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have not been met; or
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- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
31 (eeamber 2025
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MARY’S MERCURY TRUST Registered Charity No. SC044289
Statement of Receipts and Payments For the Year Ended 5 April 2025
| Year to | Year to | |
|---|---|---|
| 05.04.25 | 05.04.24 | |
| £ | £ | |
| Receipts | ||
| Interactive Investor | ||
| - Dividend Income |
11,438 | 10,410 |
| - Gross Interest |
465 | |
| - Cash Distribution |
21,840 | |
| - Change in Investment Value |
34,082 67,825 |
10,410 |
| Payments | ||
| Donations (Note 5) Interactive Investor Management Fee |
21,400 144 |
500 134 |
| Legal Entity Identifier Fee | a | 228 |
| Legal Fees | 1152 | |
| 22,696 | ||
| SurplusfortheYear | _45,129 | 9,548 |
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MARY’S MERCURY TRUST Registered Charity No. SC044289
Statement of Balances as at 5 April 2025
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Year to Year to
05.04.25 05.04.24
£ £
Opening Balances
Bank and Cash Balances
Royal Bank of Scotland 49,705
Interactive Investor Deposit 11,280
Total: 60,985 50,434
Other Assets
Investments 260,723 261,726
Total: 321,709 312,160
Movement in the Year
Surplus for the Year 45,129 9,548
Closing Balances
Bank and Cash Balances
Royal Bank of Scotland 27,153 49,705
Interactive Investor Deposit 44,880 11,280
Total: 72,033 60,985
Other Assets
Investments 294,805 260,723
Total: 366,838 321,708
All Funds are Unrestricted
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Opening Balances
Bank and Cash Balances
Royal Bank of Scotland Interactive Investor Deposit
Total:
Other Assets Investments Total:
Closing Balances
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Approved by the Trustees on 31 December 2025 and signed on their behalf by
a 5
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MARY’S MERCURY TRUST Registered Charity No. SC044289
Schedules to the Accounts For the Year Ended 5 April 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|Year|to|Year|to|
|05.04.25|05.04.24|
|£|£|
|Receipts|
|Dividend|Income|Received|
|11,438|10,410|
|Payments|
|Donations|
|Re-engage|-|Angus|Coronation|Tea|500|
|Art|Moves|-|Theatre|hire|1,400|
|Dundee|Therapy|Garden|-|Storm|damage|5,000|
|Brechin|Flood|Fund|7,500|
|Forfar|Day|Care|Centre|-|New|minibus|7,500|
|Tota!|Donations|21,400|500|
|Governance|Costs|
|Legal|Fees|t,152|
|Cost|of|Generating|Funds|
|Interactive|Investor|Management|Fee|134|
|Legal|Entity|Identifier|Fee|(Five|Years)|-|228|
|Trustees’|Expenses|
|P| reimbursement of Legal|Entity|Identifier|fee|-|228|
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MARY’S MERCURY TRUST Registered Charity No. SC044289
NOTES TO THE ACCOUNTS
Z. Accounting Policies
Basis of preparation These financial statements have been prepared on a receipts and payments basis in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended). This method is permitted for charities with gross income under £250,000 in the financial year. Under the receipts and payments basis of accounting, only actual cash received and paid during the financial year is recorded. No adjustments are made for income due but not yet received or for expenditure incurred by not yet paid at the year end.
- Going Concern
At the time of approval of the accounts, the trustees have a reasonable expectation that the Trust has adequate resources to continue operating for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the trust’s financial statements.
- Investment Managers
The trustees approve the continued appointment of Interactive Investor Ltd as holders of investments on the Trust’s behalf.
- Independent Examiner
The trustees approve the appointment of Stuart Gow CA as Independent Examiner.
5. Donations
Art Moves = £1,400 (theatre hire)
Forfar Day Centre = £7,500 (replacement of minibus)
Brechin Buccaneers CC = £7,500 (flood fund)
Dundee Therapy Garden = £5,000 (repair of storm-damaged fence)
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