Unaudited Trustees Annual Report 2025-26
North Ayrshire Council · 24 June 2026
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NORTH AYRSHIRE COUNCIL 24 June 2026 North Ayrshire Council Title: North Ayrshire Charitable Trusts: Unaudited Trustees’ Annual Report 2025/26 Purpose: To present the unaudited Trustees’ Annual Report for the year to 31 March 2026 to the Council, as trustees, for approval. Recommendation: That Council, as trustees of the North Ayrshire Council Charitable Trusts, approves the annual report for 2025/26, subject to audit. 1. Executive Summary 1.1 The Council administers a number of charitable trusts including a number of Town Trusts, which amalgamate various bequests made in relation to specific localities; the North Ayrshire Charitable Trust, which collates bequests which are not specific to any particular location within North Ayrshire; and three specific trusts, including the Anderson Park Trust, the Douglas Sellers Trust and the Margaret Archibald Trust. All of these trusts are charities registered with the Office of the Scottish Charity Regulator (OSCR). 1.2 The financial statements within this report have been prepared in accordance with the Charities Accounts (Scotland) Regulations 2006. The statements are subject to audit by the appointed auditor, Audit Scotland, and a report on the outcome of the audit will be presented to the Audit and Scrutiny Committee on completion. 2. Background 2.1 All charitable trusts registered with the Office of the Scottish Charity Regulator at 31 March 2026 are required to prepare Trustees’ Reports for 2025/26, which must be independently audited. The report attached at Appendix 1 presents the Trustees’ Annual Report and Financial Statements for all of North Ayrshire Council’s charitable trusts and Audit Scotland have been appointed as external auditors for 2025/26. 2.2 The Council, as trustees of the North Ayrshire Council charitable trusts, has delegated authority for the approval of individual disbursements from all Trusts to the relevant Locality Partnerships.
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2.3 During 2025/26 officers have continued to seek options for the appropriate use of these funds, including any options which could deplete the available capital and result in the winding up of the trust, subject to approval by OSCR. 2.4 During 2025/26 grant disbursements were approved in relation to Robert Fleck Award, held within North Ayrshire Council Charitable Trust, Margaret Archibald Bequest and Kilwinning Town Trust. 2.5 At 31 March 2026, four Trusts and two bequests registered to the North Ayrshire Charitable Trust have been identified as dormant, having made no disbursements for at least one year. The period of dormancy for each trust is detailed in the attached Trustees’ Annual Report. The dormant trusts are; • Anderson Park Trust; • Douglas Sellers Trust; • North Ayrshire Council (Kilbirnie & Glengarnock) Charitable Trust; • North Ayrshire Council (Dalry) Charitable Trust; • Largs War Memorial Bequest (included within the North Ayrshire Charitable Trust); • North Ayrshire Museum Bequest (included within the North Ayrshire Charitable Trust). 2.6 Officers from the Connected Communities service have been working closely with colleagues from across the Council to promote the various funding sources, trusts and bequests available and ensure that as many of our staff teams, partners and communities are aware of the financial supports available to groups and individuals. 3. Proposals 3.1 It is proposed that Council, as trustees of the North Ayrshire Council Charitable Trusts, approves the annual report for 2025/26, subject to audit. 4. Implications/Socio-economic Duty Financial 4.1 The cost of the audit for 2025/26 was £1,100, which has been borne by the charitable trusts. Human Resources 4.2 None. Legal 4.3 Trustees have an obligation to act in the interests of the individual Trusts and comply with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 to keep and report proper financial records.
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Equality/Socio-economic 4.4 Some of the Trusts are specifically intended to benefit those in old age or with ill- health or disabilities. Climate Change and Carbon 4.5 None. Key Priorities 4.6 The administration of the Trusts supports North Ayrshire Council’s priorities to promote active participation in our communities, improve community health and wellbeing and promote sustainable improvements in the lives of our residents, as outlined in our Council Plan 2023-28. Community Wealth Building 4.7 None. Islands Communities Impact Assessment (ICIA) 4.8 None. United Nations Rights of the Child (UNCRC) 4.9 None. Consumer Duty 4.10 None. 5. Consultation 5.1 Officers from across Council services were consulted during the preparation of the Trustees’ Annual Report 2025/26. Mark Boyd Head of Service (Finance) For further information please contact Natalie Graham, Senior Manager Corporate Finance, Financial Management, on 01294 324233. Background Papers None
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North Ayrshire Council Trust Funds Trustees’ Annual Report and Financial Statements For the year ended 31 March 2026
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Table of Contents 1 Contents North Ayrshire Council Trust Funds Trustees’ Annual Report and Financial Statements For the year ended 31 March 2026 .............................................................................................................. 1 Introduction ................................................................................................................................... 2 Administration Information ........................................................................................................ 2 Contact Address ....................................................................................................................... 2 Auditor ...................................................................................................................................... 2 Current Trustees ....................................................................................................................... 2 Structure and Governance ........................................................................................................... 3 Management of Funds and Investment Policy .............................................................................. 4 Objectives and Activities ............................................................................................................... 4 Performance ................................................................................................................................. 5 Financial Review .......................................................................................................................... 5 Overview ................................................................................................................................... 5 Future Plans .............................................................................................................................. 5 Reserves Policy ........................................................................................................................ 6 Declaration ................................................................................................................................... 6 Independent auditor’s report ......................................................................................................... 7 Statement of Receipts and Payments for year ended 31 March 2026 .......................................... 8 Statement of Balances as at 31 March 2026 .............................................................................. 10 Notes to the Financial Statements .............................................................................................. 12
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Trustees’ Annual Report 2 Introduction The Trustees present the Annual Report together with the Financial Statements and the Auditor’s Report for the year ended 31 March 2026. Administration Information The following Charities’ Financial Statements are included in this report: Charity Number Charity Name SC042136 Anderson Park Trust SC042101 Douglas Sellers Trust SC042117 Margaret Archibald Bequest SC025083 North Ayrshire Council Charitable Trust SC043644 North Ayrshire Council (Dalry) Charitable Trust SC043600 North Ayrshire Council (Kilbirnie & Glengarnock) Charitable Trust SC043374 North Ayrshire Council (Kilwinning) Charitable Trust SC043494 North Ayrshire Council (Largs) Charitable Trust Contact Address • North Ayrshire Council Finance Cunninghame House Irvine KA12 8EE Auditor • Audit Scotland 4th Floor, South Suite The Athenaeum Building 8 Nelson Mandela Place Glasgow G2 1BT Current Trustees Trustees at 31 March 2026: John Bell, Marie Burns, Eleanor Collier, Joe Cullinane, Charles Currie, Scott Davidson, Anthea Dickson, Stewart Ferguson, Todd Ferguson, Robert Foster, Scott Gallacher, Tony Gurney, Alan Hill, Mary Hume, Cameron Inglis, Margaret Johnson, Amanda Kerr, Christina Larsen, Tom Marshall, Shaun Macaulay, Jean McClung, Nairn Angus-McDonald, Matthew McLean, Louise McLaughlan, Davina McTiernan, Jim Montgomerie, Ian Murdoch, Donald Reid, Donald L Reid, Chloe Robertson, Ronnie Stalker, Angela Stephen, and John Sweeney.
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Trustees’ Annual Report 3 Structure and Governance The Charitable Trusts are registered with the Office of the Scottish Charity Regulator (OSCR). The governing documents are: Charity Number Charity Name Governing Document Dated SC042136 Anderson Park Trust Trust Disposition and Settlement 8 July 1960 SC042101 Douglas Sellers Trust Trust Disposition and Settlement 21 January 1955 SC042117 Margaret Archibald Bequest Trust Deed 22 July 1992 SC025083 North Ayrshire Council Charitable Trust No overall governing documents. Not Applicable SC025083 North Ayrshire Council Charitable Trust Spier’s Trust: Trust Scheme 1978 SC025083 North Ayrshire Council Charitable Trust North Ayrshire Museum: Scheme of Administration 1958 SC025083 North Ayrshire Council Charitable Trust North Ayrshire Museum: Minute of Agreement 1974 SC043644 North Ayrshire Council (Dalry) Charitable Trust Trust Deed 26 November 2012 SC043600 North Ayrshire Council (Kilbirnie & Glengarnock) Charitable Trust Trust Deed 23 October 2012 SC043374 North Ayrshire Council (Kilwinning) Charitable Trust Trust Deed 20 July 2012 SC043494 North Ayrshire Council (Largs) Charitable Trust Trust Deed 7 September 2012 The Trustees of the Charitable Trusts are the elected members of North Ayrshire Council and are appointed through their election to the Council. The Head of Finance is the designated officer within North Ayrshire Council with responsibility for the proper administration of the Charitable Trusts’ financial affairs. The Head of Finance is responsible for keeping proper accounting records that are up to date and which ensure that financial statements comply with the Charities Accounts (Scotland) Regulations 2006. The Trustees are satisfied that proper accounting systems have been maintained.
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Trustees’ Annual Report 4 The Head of Finance has considered and taken steps to address any risks to which the Charity may be exposed, in particular those related to its operation and finances. The Trustees are satisfied that adequate systems are in place to mitigate exposure to such risks. Management of Funds and Investment Policy Decisions regarding the management of the Trusts have been delegated by the Council to the relevant Locality Partnerships. The Trustees rely on the expertise of North Ayrshire Council to manage the investments to ensure the maximum return and the least risk to the Charities. In this way, the income stream for the future benefit of the Charities is protected. The funds of the Charities are deposited with North Ayrshire Council and invested in stocks and shares in a variety of companies (see page 13). Objectives and Activities Charity Number Charity Name Objectives SC042136 Anderson Park Trust Provision of recreational facilities or the organisation of recreational activities in the Burgh of Largs. SC042101 Douglas Sellers Trust Maintenance, improvement and advancement of recreational facilities within the Burgh of Irvine; Maintenance, improvement and floral decoration of open spaces within the Burgh of Irvine. SC042117 Margaret Archibald Bequest Relief of those in need who are aged 65 and over and who reside in the Parish of Dalry. SC025083 North Ayrshire Council Charitable Trust Encouragement and promotion of education among students, including bursaries and prizes awarded; Provision of recreational facilities or organisation of recreational activities; Upkeep of war memorials. SC043644 North Ayrshire Council (Dalry) Charitable Trust Prevention or relief of poverty; Provision of recreational facilities or the organisation of recreational activities; Relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage. SC043600 North Ayrshire Council (Kilbirnie & Glengarnock) Charitable Trust) Prevention or relief of poverty; Provision of recreational facilities or the organisation of recreational activities; Relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage. SC043374 North Ayrshire Council (Kilwinning) Charitable Trust Prevention or relief of poverty; Provision of recreational facilities or the organisation of recreational activities; Relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage.
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Trustees’ Annual Report 5 Charity Number Charity Name Objectives SC043494 North Ayrshire Council (Largs) Charitable Trust Prevention or relief of poverty; Provision of recreational facilities or the organisation of recreational activities; Relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage. Income received is expended on awards and, where necessary, supplemented by revenue reserves. Performance Income to the Charities comes from property rents, share dividends and investment returns. In the year to 31 March 2026, 8 awards of grant totalling £20,745 were disbursed (2024/25 6 awards totalling £40,775). In the year to 31 March 2026, the total income across the Trusts was £85,970 (2024/25 £25,512). Financial Review Overview In the year to 31 March 2026, the Charitable Trusts made a surplus of £62,818 (2024/25 Deficit of £17,311). The Trusts held cash and bank balances at 31 March 2026 of £249,495 (2024/25 £186,678). The increase in balances relates to income from property rents, share dividends, investment returns and investments redemptions, offset by the utilisation of funds through the disbursement of grants noted above. In addition, the Trusts held investments in the form of stocks and shares in a variety of companies with a market value of £259,744 at 31 March 2026 (2024/25 £315,181), (see page 15). Future Plans The Charitable Trusts will continue to promote their activities and consider applications submitted by individuals and groups who meet the criteria. North Ayrshire Council is working within our communities to raise awareness of the financial support available from the Charitable Trusts and encourage appropriate applications from community groups and individuals. Where any Trusts have been identified as low value or dormant, North Ayrshire Council will continue to identify options for utilising Trust balances, and these will be presented to Trustees when available. During 2025/26, North Ayrshire Council approved the Trust Funds Investment Strategy which sets out the objectives of all investments and ensures that all decisions have due regard for the suitability to the Trust of the investment. As per the 2026/27 budget report, and OSCR recommendations, a review of the Trusts governing documents will take place during this financial year.
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Trustees’ Annual Report 6 The undernoted Trusts have been identified as dormant having made no disbursements for at least one year: Charity Number Charity Name Period Dormant SC042136 Anderson Park Trust Over 8 years SC025083 Largs War Memorial (North Ayrshire Council Charitable Trust Bequest) Over 8 years SC025083 North Ayrshire Museum (North Ayrshire Council Charitable Trust Bequest)Over 8 years SC042101 Douglas Sellers Trust Over 7 years SC043600 North Ayrshire Council (Kilbirnie & Glengarnock) Charitable Trust Over 7 years SC043644 North Ayrshire Council (Dalry) Charitable Trust Over 6 years Reserves Policy Reserves are held by North Ayrshire Council on behalf of the Trust and revenue income generated from the capital which has not been disbursed at 31 March each year is invested in North Ayrshire Council’s Loans Fund. Declaration The unaudited accounts were issued on 24 June 2026 by: Mark Boyd Head of Finance North Ayrshire Council Tony Gurney Leader North Ayrshire Council
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Independent Auditor’s Report 7 Independent auditor’s report to the Trustees of North Ayrshire Council Charitable Trust Funds and the Accounts Commission This page is intentionally blank.
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Statement of Receipts and Payments for year ended 31 March 2026 8 Statement of Receipts and Payments for year ended 31 March 2026 The Statement of Receipts and Payments, as required by the Charities Accounts (Scotland) Regulations 2006, provides an analysis of the incoming and outgoing cash and bank transactions for the year. The funds are classed as ‘Restricted’ because they have specific objectives, as set out in Section 4 of the Trustees’ Annual Report. 2025/26 Charity Description Receipts Investments Receipts Property Rents Total Receipts Payments Charitable Activities Payments Governance Costs Total Payments Surplus / (Deficit) n/a n/a £ £ £ £ £ £ £ SC042136 Anderson Park Trust 1 0 1 0 0 0 1 SC042101 Douglas Sellers Trust 7 0 7 0 0 0 7 SC042117 Margaret Archibald Bequest 77,237 0 77,237 17,115 809 17,924 59,313 SC025083 North Ayrshire Council Trust 7,892 500 8,392 373 820 1,193 7,199 SC043644 Dalry Trust 71 0 71 0 193 193 (122) SC043600 Kilbirnie & Glengarnock Trust 121 0 121 0 200 200 (79) SC043374 Kilwinning Trust 48 0 48 3,257 189 3,446 (3,398) SC043494 Largs Trust 92 0 92 0 196 196 (104) Total n/a 85,470 500 85,970 20,745 2,407 23,152 62,818
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Statement of Receipts and Payments for year ended 31 March 2026 9 2024/25 Charity Description Receipts Investments Receipts Property Rents Total Receipts Payments Charitable Activities Payments Governance Costs Total Payments Surplus / (Deficit) n/a n/a £ £ £ £ £ £ £ SC042136 Anderson Park Trust 1 0 1 0 0 0 1 SC042101 Douglas Sellers Trust 8 0 8 0 1 1 7 SC042117 Margaret Archibald Bequest 12,966 0 12,966 6,100 529 6,629 6,337 SC025083 North Ayrshire Council Trust 8,378 2,660 11,038 250 726 976 10,062 SC043644 Dalry Trust 89 0 89 0 193 193 (104) SC043600 Kilbirnie & Glengarnock Trust 145 0 145 0 199 199 (54) SC043374 Kilwinning Trust 1,154 0 1,154 34,425 205 34,630 (33,476) SC043494 Largs Trust 112 0 112 0 195 195 (83) Total n/a 22,852 2,660 25,512 40,775 2,048 42,823 (17,311)
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Statement of Balances as at 31 March 2026 10 Statement of Balances as at 31 March 2026 The Statement of Balances, as required by the Charities Accounts (Scotland) Regulations 2006, reconciles the cash and bank balances at the start and end of the financial year, with any surpluses or deficits shown in the Statement of Receipts and Payments. 2025/26 Charity Description Bank and Cash in Hand Opening Balance Bank and Cash in Hand Surplus / (Deficit) Closing Balance Land and Buildings Market Value at 31 March Investments Market Value at 31 March n/a n/a £ £ £ £ £ SC042136 Anderson Park Trust 23 1 24 0 0 SC042101 Douglas Sellers Trust 168 7 175 0 0 SC042117 Margaret Archibald Bequest 68,691 59,313 128,004 0 155,958 SC025083 North Ayrshire Council Trust 106,652 7,199 113,851 116,000 103,786 SC043644 Dalry Trust 1,724 (122) 1,602 0 0 SC043600 Kilbirnie & Glengarnock Trust 2,927 (79) 2,848 0 0 SC043374 Kilwinning Trust 4,261 (3,398) 863 0 0 SC043494 Largs Trust 2,231 (104) 2,127 0 0 Total n/a 186,678 62,818 249,495 116,000 259,744
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Statement of Balances as at 31 March 2026 11 2024/25 Charity Description Bank and Cash in Hand Opening Balance Bank and Cash in Hand Surplus / (Deficit) Closing Balance Land and Buildings Market Value at 31 March Investments Market Value at 31 March n/a n/a £ £ £ £ £ SC042136 Anderson Park Trust 22 1 23 0 0 SC042101 Douglas Sellers Trust 162 7 168 0 0 SC042117 Margaret Archibald Bequest 62,354 6,337 68,691 0 219,085 SC025083 North Ayrshire Council Trust 96,590 10,062 106,652 110,000 96,096 SC043644 Dalry Trust 1,828 (104) 1,724 0 0 SC043600 Kilbirnie & Glengarnock Trust 2,982 (54) 2,927 0 0 SC043374 Kilwinning Trust 37,738 (33,476) 4,261 0 0 SC043494 Largs Trust 2,313 (83) 2,231 0 0 Total n/a 203,989 (17,311) 186,678 110,000 315,181 The unaudited accounts were issued on 24 June 2026. Mark Boyd Head of Finance North Ayrshire Council Tony Gurney Leader North Ayrshire Council
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Notes to the Financial Statements 12 Notes to the Financial Statements Basis of Accounting The Financial Statements have been prepared in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. Reorganisation During the period 2012 to 2014, North Ayrshire Council undertook a review of Sundry Trusts that resulted in the creation of eight new Town Trusts. The North Ayrshire Council Charitable Trust comprises those registered charitable funds that were not amalgamated on a geographical basis, including: Name of Trust Fund Purpose North Ayrshire Museum For Benefit of North Ayrshire Museum War Memorial Fund Largs War Memorial Fund Spier's Trust Education Prize for the Garnock Valley Robert Fleck Award Education Prize for Saltcoats schools Taxation The Charitable Trusts are not liable to income or capital gains tax on their activities. Irrecoverable VAT is included in the expense to which it relates. Trustee Remuneration, Expenses and Related Party Transactions a. No remuneration or expenses were paid to the Trustees or any connected persons during the year 2025/26 or 2024/25; and b. The Trusts received interest of £9,046 (2024/25: £9,504) from North Ayrshire Council at 31 March 2026 and all transactions incoming and outgoing are made via the Council’s bank accounts; and c. For 2025/26 charges for administration costs of £1,002 (2024/25: £914) have been levied by North Ayrshire Council, these were apportioned across the Trusts based on the current balances. Grants 8 awards of grant, totalling £20,745 were awarded to individuals and community groups during 2025/26 (2024/25: 6 grants totalling £40,775 were awarded). All grants were approved for the benefit of the local community. Audit Fee The audit fee for the year was £1,100 (2024/25: £1,100), allocated across all Trusts.
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Notes to the Financial Statements 13 Cash and Bank Balances During the year, the Trust’s balances were held by North Ayrshire Council, which manages the administration of the funds on behalf of the Trustees. The Council also acts as the banker for the Charity and, as detailed above, all transactions incoming and outgoing are made via the Council’s accounts. The balances are repayable on demand. Interest is paid on balances. Investments Two of the Trusts hold the following investments: Margaret Archibald Bequest Nominal Value Market Value at 31 March 2026 Market Value at 31 March 2025 £ £ £ GlaxoSmithKline plc 1,183.00 78,122 69,182 Marks & Spencer plc 400.00 5,000 5,244 Diageo plc 400.40 19,963 28,807 Barclays plc 336.00 5,228 3,868 Royal Dutch Shell plc 562.50 0 18,250 Unilever plc 37.00 44,971 55,551 British American Tobacco plc 300.00 0 38,184 The Magnum Ice Cream Company 3.50 2,673 0 Total n/a 155,958 219,085 North Ayrshire Council Charitable Trust Purchase Price / Nominal Value Market Value at 31 March 2026 Market Value at 31 March 2025 £ £ £ JPM UK Higher Income Fund 1,789.50 9,177 8,052 Merchants Trust 406.25 9,539 8,499 Alliance Trust 72.50 34,588 33,547 Zeneca Group plc 67.50 39,663 30,386 Diageo 217.00 10,819 15,612 Total n/a 103,786 96,096 During 2025/26, following Council approval on 26 February 2025, officers of the Council disposed of two investments identified as being inconsistent with the Trust Fund Investment Strategy. Disposal of the investment in Royal Dutch Shell PLC was settled on 10 July 2025 with a net value of £16,248.73 realised. Disposal of the investment in British American Tobacco PLC was settled on 1 September 2025 with net value of £49,704.73 realised. The funds were deposited into the Loans Fund for the benefit of the Margaret Archibald Bequest. Land and Buildings Income from property relates to grazing rents at Marshallands Grazings, Barrmill Road, Beith. The land was purchased for £25,000 in 2004 by the Spier’s Trust and was last revalued in 2025/26 at a current market value of £116,000. No depreciation is charged.