Revenue Estimates - Common Good Funds and Trusts
North Ayrshire Council · 26 February 2025
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NORTH AYRSHIRE COUNCIL 26 February 2025 North Ayrshire Council Title: Revenue Estimates 2025/26 – Common Good Funds and Trusts Purpose: To advise Council of the anticipated annual income and expenditure of the Common Good Funds and Trusts administered by North Ayrshire Council and seek approval for the level of funding to be made available for disbursement during 2025/26. Recommendation: That Council: (a) approves the 2025/26 revenue estimates for the Common Good Funds and registered Charitable Trusts detailed in Appendix 1; (b) approves the amounts available for disbursement noted at paragraphs 2.9 and 2.10; (c) agrees to capital spend from the dormant and low value Trusts and Common Good Funds, and instructs officers to seek approval from the Office of the Scottish Charity Regulator (OSCR) prior to the disbursement of any grant which would result in the winding up of a Trust; and (d) approves the disposal of Trust external investments as detailed at paragraph 2.11 to 2.13. 1. Executive Summary 1.1 The Council is the custodian of the Common Good Funds for the former burghs of Ardrossan, Irvine, Largs, Millport, Saltcoats and Stevenston and a number of charitable Trusts, which are largely composed of bequests made many years ago. 1.2 This report provides Members with an overview of the financial position of each Common Good Fund and Charitable Trust and recommends the level of expenditure which can be disbursed from each for 2025/26. 1.3 The Common Good Funds and Trusts make annual disbursements of grants to groups and individuals. The level of funding available for these grants is normally set at the net annual income of each Fund or Trust after meeting their expenditure commitments. For Common Good Funds, where the expenditure commitments exceed the annual income, the recommended budget for grant disbursement reflects the level of disbursements in previous years or £5,000, whichever is the greater.
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1.4 In order to encourage the utilisation of funds across communities, in particular where the Trusts have been dormant or have low levels of income, it is recommended that, with the exception of those Trusts with significant balances, the full balance of the Trusts are approved as available for disbursement. Any disbursement which utilises the full capital balance will result in closure and will require the approval of OSCR. During 2025/26, the funds within Dalry Trust, Kilwinning Trust, Kilbrinie & Glengarnock Trust, Largs Trust, Douglas Sellers Trust and Anderson Park Trust will be exhausted. Approval will be sought from OSCR for the disbursement of any remaining capital and winding up of these Trusts. 1.5 The external investments held by the Charitable Trusts have been assessed against the Trust Investment Policy 2024/25 and two investments have been identified as being inconsistent with the policy. It is recommended that these investments are sold and the capital re-invested with North Ayrshire Council’s Loans Fund. 2. Background Common Good Funds 2.1 The Council is the custodian of the Common Good Funds for the former burghs of Ardrossan, Irvine, Largs, Millport, Saltcoats and Stevenston. The purpose of the Common Good Funds is to benefit the general population within the defined areas of each of their respective towns. 2.2 At its meeting on 15 May 2024, Council approved the allocation of £0.513m from Irvine Common Good Fund to meet the costs of essential works required at Seagate Castle. £0.061m works have been completed to date that the proposed budgets include the balance of £0.442m which will be required to allow the completion of the works during 2025/26. 2.3 The Common Good Funds make annual disbursements to groups and individuals based on approved criteria. Current practice has been for the levels of grant available for disbursement to be determined after all expenditure commitments and projected income from assets has been assessed with any remaining surplus made available for trustees to disburse and ensuring that capital balances are left intact. The disbursement of funds from the capital balance would normally require Council approval. However, this would result in a lower budget for disbursement in all Common Good Funds, with the exception of Stevenston. It is, therefore, recommended that the budget for grants in each Common Good Fund is set at the level of disbursements in previous years or £5,000, whichever is the greater. This will result in a reduction in capital balances over the year for most Funds. 2.4 In the case of Irvine Common Good Fund, the level of expenditure exceeds the level of income. In order to maximise the benefits to the community, it is proposed that the budget for grant disbursement is set at a level which reflects previous years’ disbursements.
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Charitable Trusts 2.5 The Council also administers a number of Trusts which are largely composed of bequests made many years ago. Of these Trusts, there are only two which accrue significant levels of income; the Spier’s Trust and the Margaret Archibald Trust. The Spier's Trust was founded in 1936 for the administration of Spier's School, Beith and for the provision of certain educational grants and bursaries with the local area of benefit comprising the parishes of Beith, Dalry, Dunlop, Kilbirnie, Lochwinnoch and Neilston. The purpose of the Margaret Archibald Trust is "to apply the capital and income from time to time, at the discretion of the Council, for the charitable purpose of persons in need who have attained sixty-five years of age, living in the Parish of Dalry, Ayrshire". 2.6 The remaining Trusts comprise four town Trusts, covering Dalry, Kilbirnie & Glengarnock, Kilwinning and Largs, which provide assistance to persons in need within the defined area of each fund; the North Ayrshire Council Trust, which incorporates a further seven smaller funds; two minor Trusts and a number of sundry bequests listed on Appendix 2. 2.7 Historically a number of Trusts have experienced periods of dormancy where no grant applications have been received. OSCR is keen that charities fulfil their charitable purposes and the Council’s external auditors have previously expressed concern about the continued lack of activity in these Trusts. If no other action is taken, the annual external audit fee and administrative charges will eventually exhaust these Trusts. As such, the utilisation of available funds through a particular project which complies with the Trust’s purposes should be considered. It is, therefore, recommended that, with the exception of those Trusts with significant balances, the full balances of the town and minor Trusts are made available for disbursement. It should be noted that any disbursement which would result in the winding up of a registered Trust must be approved by OSCR before the relevant Locality Partnership agrees the grant. For those Trusts with significant balances, it is proposed that the budgets for grant disbursement are set at a level which reflects previous years’ disbursements. 2.8 It is projected that the funds within Dalry Trust, Kilwinning Trust, Kilbrinie & Glengarnock Trust, Largs Trust, Douglas Sellers Trust and Anderson Park Trust may be exhausted during 2025-26. Approval will be sought from OSCR for the disbursement of any remaining capital and winding up of these Trusts as appropriate. 2.9 The following table summarises the anticipated income and expenditure for each Common Good Fund and Trusts and the proposed budget for grant disbursement for each:
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2.10 The remaining smaller trusts administered by the Council are listed in Appendix 2. Projected income for 2025/26 is £733 and during 2024/25, thus far, there have been no disbursements. Therefore, the full balance of £15,207 is available for disbursement during 2025/26. Trust Funds – Investment Strategy 2.11 Council approved the Trust Fund Investment Strategy 2024/25 on 18 December 2024. The Strategy set out the principles which ensure that all investments are made on a socially responsible basis with appropriate regard for Environmental, Social and Governance issues through the exclusion of investment in any businesses whose activities and practices pose a risk of serious harm to individuals or groups, or whose activities are inconsistent with the Council’s values 2.12 Following an assessment of the external investments held by the Margaret Archibald Trust and the North Ayrshire Council Charitable Trust, as detailed in Appendix 3, two specific shareholdings have been identified as being inconsistent with the strategy: Trust Margaret Archibald Margaret Archibald Investment Royal Dutch Shell PLC British American Tobacco PLC Value at 31 March 2024 £16,958 £28,872 Sector Energy Tobacco Recommendation Not aligned to Council’s Investment strategy - Sell Not aligned to Council’s Investment strategy - Sell Estimated Balance at 1 April 2025 Estimated Income 2025 to 2026 Estimated Expenditure 2025 to 2026 Available for Disbursement Estimated Balance at 31 March 2026 £ £ £ £ £ Common Good Fund Ardrossan 356,170 65,230 (56,858) (30,347) 334,195 Irvine 1,139,500 97,105 (492,477) (41,041) 703,087 Largs 444,485 36,822 (32,342) (10,000) 438,965 Millport 68,302 3,310 (338) (5,000) 66,274 Saltcoats 11,362 550 (53) (5,000) 6,859 Stevenston 212,403 26,003 (995) (25,008) 212,403 TOTAL 2,232,222 229,020 (583,063) (116,396) 1,761,783 Registered Charitable Trusts Dalry 1,726 80 (192) (1,614) 0 Kilbirnie & Glengarnock 2,936 140 (197) (2,879) 0 Kilwinning 3,114 150 (367) (2,897) 0 Largs 2,231 110 (194) (2,147) 0 Speir's Trust 67,169 6,754 (1,179) (5,575) 67,169 Margaret Archibald Trust 210,537 21,761 (1,223) (20,538) 210,537 Douglas Sellers Trust 162 0 0 (162) 0 Anderson Park Trust 22 0 0 (22) 0 NAC Charitable Trust 51,402 3,954 (319) (3,635) 51,402 TOTAL 339,299 32,949 (3,671) (39,469) 329,108
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2.13 it is recommended that the identified investments are sold and any capital receipts are reinvested through North Ayrshire Council’s Loans Fund. The performance and suitability of all other investments will continue to be monitored and reported to Council within the Trustees’ Annual Report and Financial Statements after the end of each financial year. 3. Proposals 3.1 That Council: (a) approves the 2025/26 revenue estimates for the Common Good Funds and registered Charitable Trusts detailed in Appendix 1; (b) approves the amounts available for disbursement noted at paragraphs 2.9 and 2.10; (c) agrees to capital spend from the dormant and low value Trusts and Common Good Funds, and instructs officers to seek approval from the Office of the Scottish Charity Regulator (OSCR) prior to the disbursement of any grant which would result in the winding up of a Trust; and (d) approves the disposal of Trust external investments as detailed at paragraph 2.11 to 2.13. 4. Implications/Socio-economic Duty Financial 4.1 Approval of the budgets will allow each Locality Partnership to disburse individual grants up to the approved levels. All income and expenditure which relates to Common Good properties must be charged to the relevant Common Good Fund. Human Resources 4.2 None. Legal 4.3 All expenditure from Trusts and Common Good Funds must be for the purposes of the Trust or meet the Common Good criteria of benefitting the inhabitants of the Common Good area. Under the Trusts and Succession (Scotland) Act 2024, Trustees have a duty to review all investment decisions to ensure that due regard has been given to the suitability of the investment taking account of proper advice. Equality/Socio-economic 4.4 The disbursement of grants to individuals and groups is in support of the general purpose of the prevention or relief of poverty by reason of age, ill-health, disability, financial hardship or other disadvantage.
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Environmental and Sustainability 4.5 The recommendations for the disposal of investments held on behalf of the Trusts are consistent with the Council’s values and will exclude investment in counterparties which have significant involvement in activities which contribute to carbon intensive industries. Key Priorities 4.6 This report directly supports the Council Plan 2019 to 2024 by supporting active and strong communities through the disbursement of grants to groups and individuals. Community Wealth Building 4.7 None. 5. Consultation 5.1 Legal Services have been consulted on the recommendations and procedures for winding up the Trusts. Click here to enter text. Mark Boyd Head of Service Finance(Chief Executives) For further information please contact David Forbes, Senior Manager (Strategic Business Partner), on 01294 324551. Background Papers North Ayrshire Council Trust Funds - Investment Strategy 2024/25 – Council 18 December 2024 North Ayrshire Council Charitable Trusts: Unaudited Trustees’ Annual Report 2023/24 – Council, 26 June 2024
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Index of Common Good and Trust Funds Page Appendix 1 Common Good Funds Ardrossan 1 Irvine 2 Largs 3 Millport 4 Saltcoats 4 Stevenston 5 Trusts North Ayrshire Council (Dalry) Charitable Trust 6 North Ayrshire Council (Kilbirnie & Glengarnock) Charitable Trust 6 North Ayrshire Council (Kilwinning) Charitable Trust 7 North Ayrshire Council (Largs) Charitable Trust 7 Margaret Archibald Trust 8 Douglas Sellers Trust 8 Anderson Park Trust 9 North Ayrshire Council Charitable Trust 9 Speir’s Trust 10 Appendix 2 Sundry Bequests 11 Appendix 3 External Investments 12
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Appendix 1 Page | 1 Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 344,472 363,338 Projected Common Good Balance Brought Forward at 1 April 356,170 INCOME 38,500 46,359 Rental - Ardrossan Civic Centre 46,000 5,820 19,230 Loans Fund Interest (on cash balances) 19,230 44,320 65,589 TOTAL INCOME FOR THE YEAR 65,230 EXPENDITURE Property Costs 12,000 40,632 External Property Repairs - Ardrossan Civic Centre 55,000 Others 1,883 1,778 Administration - Charge from Finance 1,858 13,883 42,410 SUB TOTAL OF EXPENDITURE 56,858 30,437 23,179 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 8,372 30,437 30,347 Available for Disbursement as Grants 30,347 0 (7,168) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (21,975) 344,472 356,170 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 334,195 COMMON GOOD FUND - ARDROSSAN
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Page | 2 * For the upkeep of ground at the Moor, Low Green, Recreational Parks, Galt Avenue, Old Parish Church, Redburn Community Centre, Berry Drive Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 1,118,352 1,119,802 Projected Common Good Balance Brought Forward at 1 April 1,139,500 INCOME Property Rentals 25,000 25,000 Woodlands Centre 25,000 11,500 11,500 Bank Street (Church of Latter Day Saints) 11,500 13,385 12,885 Irvine Moor 11,385 13,000 13,000 Ground East Road (McConnachies) 13,000 2,000 2,000 East Road New Car Park 2,000 Other Income 18,990 55,230 Loans Fund Interest (on cash balances) 34,220 83,875 119,615 TOTAL INCOME FOR THE YEAR 97,105 EXPENDITURE Property Costs 500 0 General Repairs 500 10,500 10,219 Rates on vacant properties (36/38 Bank Street) 11,354 1,837 3,424 Electricity 1,470 30,445 28,995 Grounds Maintenance* 30,445 189,000 10,049 Property Maintenance - Seagate Castle 442,371 1,000 1,083 Other Property Costs 1,000 233,282 53,770 487,140 Others 6,148 5,106 Administration - Charge from Finance 5,337 6,148 5,106 5,337 239,430 58,876 SUB TOTAL OF EXPENDITURE 492,477 (155,555) 60,739 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (395,372) 41,041 41,041 Available for Disbursement as Grants 41,041 (196,596) 19,698 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (436,413) 921,756 1,139,500 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 703,087 COMMON GOOD FUND - IRVINE
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Page | 3 * For the upkeep of ground at Douglas Park. Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 433,573 443,078 Projected Common Good Balance Brought Forward at 1 April 444,485 INCOME Property Rentals (Including Insurance Premiums) 7,315 7,312 Haylie House 7,312 1,250 1,250 Douglas Park Bowling Club 1,250 210 210 Douglas Park Grazings 210 6,539 6,539 Douglas Park Tennis Club & Children's Nursery 6,500 Other Income 7,320 21,540 Loans Fund Interest (on cash balances) 21,550 22,634 36,851 TOTAL INCOME FOR THE YEAR 36,822 EXPENDITURE Property Costs 10,976 2,941 Electricity 8,781 14,714 19,514 Grounds Maintenance* 20,443 1,000 963 Other Property Costs 1,000 Others 2,371 2,026 Administration - Charge from Finance 2,118 29,061 25,444 SUB TOTAL OF EXPENDITURE 32,342 (6,427) 11,407 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 4,480 10,000 10,000 Available for Disbursement as Grants 10,000 (16,427) 1,407 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (5,520) 417,146 444,485 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 438,965 COMMON GOOD FUND - LARGS
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Page | 4 Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 68,823 70,315 Projected Common Good Balance Brought Forward at 1 April 68,302 INCOME 1,150 3,310 Loans Fund Interest (on cash balances) 3,310 1,150 3,310 TOTAL INCOME FOR THE YEAR 3,310 EXPENDITURE Others 378 323 Administration - Charge from Finance 338 378 323 SUB TOTAL OF EXPENDITURE 338 772 2,987 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 2,972 5,000 5,000 Available for Disbursement as Grants 5,000 -4,228 (2,013) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (2,028) 64,595 68,302 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 66,274 COMMON GOOD FUND - MILLPORT Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 14,781 15,863 Projected Common Good Balance Brought Forward at 1 April 11,362 INCOME 230 550 Loans Fund Interest (on cash balances) 550 230 550 TOTAL INCOME FOR THE YEAR 550 EXPENDITURE 80 51 Administration - Charge from Finance 53 80 51 SUB TOTAL OF EXPENDITURE 53 150 499 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 497 5,000 5,000 Available for Disbursement as Grants 5,000 (4,850) (4,501) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (4,503) 9,931 11,362 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 6,859 COMMON GOOD FUND - SALTCOATS
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Page | 5 Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 188,342 203,751 Projected Common Good Balance Brought Forward at 1 April 212,403 INCOME Property Rentals 14,250 15,713 New Street (Health & Social Care) 15,713 Other Income 3,180 10,290 Loans Fund Interest (on cash balances) 10,290 17,430 26,003 TOTAL INCOME FOR THE YEAR 26,003 EXPENDITURE 1,030 951 Administration - Charge from Finance 995 1,030 951 SUB TOTAL OF EXPENDITURE 995 16,400 25,052 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 25,008 16,400 16,400 Available for Disbursement as Grants 25,008 0 8,652 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS 0 188,342 212,403 COMMON GOOD BALANCE CARRIED FORWARD AT 31 MARCH 212,403 COMMON GOOD FUND - STEVENSTON
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Page | 6 Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 1,878 1,827 Projected Trust Balance Brought Forward at 1 April 1,726 INCOME 47 90 Loans Fund Interest (on cash balances) 80 47 90 TOTAL INCOME FOR THE YEAR 80 EXPENDITURE 160 191 Administration - Charge to Finance 192 160 191 SUB TOTAL OF EXPENDITURE FOR THE YEAR 192 (113) (101) SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (112) 1,765 0 Available for Disbursement as Grants 1,614 (1,878) (101) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (1,726) 0 1,726 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 0 NAC (DALRY) CHARITABLE TRUST Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 2,975 2,982 Projected Trust Balance Brought Forward at 1 April 2,936 INCOME 40 150 Loans Fund Interest (on cash balances) 140 40 150 TOTAL INCOME FOR THE YEAR 140 EXPENDITURE 174 196 Administration - Charge from Finance 197 174 196 SUB TOTAL OF EXPENDITURE FOR THE YEAR 197 (134) (46) FINAL SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (57) 2,841 0 Available for Disbursement as Grants 2,879 (2,975) (46) FINAL SURPLUS/(DEFICIT) FOR THE YEAR (2,936) 0 2,936 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 0 NAC (KILBIRNIE & GLENGARNOCK) CHARITABLE TRUST
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Page | 7 Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 37,618 37,738 Projected Trust Balance Brought Forward at 1 April 3,114 INCOME 630 160 Loans Fund Interest (on cash balances) 150 630 160 TOTAL INCOME FOR THE YEAR 150 EXPENDITURE 386 359 Administration - Charge from Finance 367 386 359 SUB TOTAL OF EXPENDITURE FOR THE YEAR 367 244 (199) SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (217) 37,862 34,425 Available for Disbursement as Grants 2,897 (37,618) (34,624) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (3,114) 0 3,114 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 0 NAC (KILWINNING) CHARITABLE TRUST Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 2,261 2,314 Projected Trust Balance Brought Forward at 1 April 2,231 INCOME 30 110 Loans Fund Interest (on cash balances) 110 30 110 TOTAL INCOME FOR THE YEAR 110 EXPENDITURE 176 193 Administration - Charge from Finance 194 176 193 SUB TOTAL OF EXPENDITURE FOR THE YEAR 194 (146) (83) SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS (84) 2,115 0 Available for Disbursement as Grants 2,147 (2,261) (83) FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (2,231) 0 2,231 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 0 NAC (LARGS) CHARITABLE TRUST
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Page | 8 Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 211,661 202,288 Projected Trust Balance Brought Forward at 1 April 210,537 INCOME 10,696 10,561 Share dividends 10,561 3,570 10,210 Loans Fund Interest (on cash balances) 11,200 14,266 20,771 TOTAL INCOME FOR THE YEAR 21,761 EXPENDITURE 504 1,173 Administration - Charge from Finance 1,223 504 1,173 SUB TOTAL OF EXPENDITURE FOR THE YEAR 1,223 13,762 19,598 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 20,538 13,762 11,349 Available for Disbursement as Grants 20,538 0 8,249 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS 0 211,661 210,537 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 210,537 MARGARET ARCHIBALD BEQUEST Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 164 162 Projected Trust Balance Brought Forward at 1 April 162 INCOME 0 0 Loans Fund Interest (on cash balances) 0 0 0 TOTAL INCOME FOR THE YEAR 0 EXPENDITURE 158 0 Administration - Charge from Finance 0 158 0 SUB TOTAL OF EXPENDITURE FOR THE YEAR 0 (158) 0 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 0 6 0 Available for Disbursement as Grants 162 (164) 0 FINAL SURPLUS/(DEFICIT) FOR THE YEAR (162) 0 162 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 0 DOUGLAS SELLERS TRUST
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Page | 9 Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 22 22 Projected Trust Balance Brought Forward at 1 April 22 INCOME 0 0 Loans Fund Interest (on cash balances) 0 0 0 TOTAL INCOME FOR THE YEAR 0 EXPENDITURE Administration - Charge from Finance 0 0 0 SUB TOTAL OF EXPENDITURE FOR THE YEAR 0 0 0 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 0 22 0 Available for Disbursement as Grants 22 (22) 0 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS (22) 0 22 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 0 ANDERSON PARK TRUST Budget 2024 to 2025 Projected Outturn 2024 to 2025 Proposed Budget 2025 to 2026 £ £ £ 47,644 47,937 Projected Trust Balance Brought Forward at 1 April 51,402 INCOME 1,904 1,294 Dividends 1,294 790 2,480 Loans Fund Interest (on cash balances) 2,660 2,694 3,774 TOTAL INCOME FOR THE YEAR 3,954 EXPENDITURE 316 309 Administration - Charge from Finance 319 316 309 SUB TOTAL OF EXPENDITURE FOR THE YEAR 319 2,378 3,465 SURPLUS/(DEFICIT) FOR THE YEAR BEFORE GRANTS 3,635 2,378 0 Available for Disbursement as Grants 3,635 0 3,465 FINAL SURPLUS/(DEFICIT) FOR THE YEAR INCLUDING GRANTS 0 47,644 51,402 TRUST BALANCE CARRIED FORWARD AT 31 MARCH 51,402 NORTH AYRSHIRE COUNCIL CHARITABLE TRUST (excluding SPIERS TRUST)
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Appendix 2 Page | 11 Sundry Bequests Name of Funds Investment Projected Income 2025 to 2026 Available for Disbursement 2025 to 2026 Purpose of Bequest £ £ £ Isabella McPhee Memorial Fund 3,119 158 3,277 Largs - Annual Putting Competition (Mackerston) N Stewart 1,771 90 1,861 Provision of Liberty at Rothesay and Arran Sturrock 3,202 162 3,364 Upkeep of Springside Community Centre Clark Trophy 598 30 628 Road Safety Competition Ayrshire Accident Relief 4,221 214 4,435 Accident Relief Cast/Florist/N Child 305 15 320 No information available Miss Hanslip Bequest 1,258 64 1,322 No information available Total 14,474 733 15,207
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Appendix 3 Page | 12 External Investments Margaret Archibald Bequest Sector Nominal Value (£) Market Value at 31/3/24 (£) GlaxoSmithKline plc Healthcare 1,183.00 80,851 Marks & Spencer plc Consumer Staples 400.00 3,910 Diageo plc Beverages 400.40 41,835 Barclays plc Financials 336.00 2,460 Royal Dutch Shell plc Energy 562.50 16,958 Unilever plc Consumer Staples 37.00 47,905 British American Tobacco plc Tobacco 300.00 28,872 Total N/A 222,790 North Ayrshire Council Charitable Trust Sector Nominal Value (£) Market Value at 31/3/24 (£) JPM UK Higher Income Fund Financials 1,789.50 7,516 Merchants Trust Financials 406.25 8,645 Alliance Trust Financials 72.50 35,572 Zeneca Group plc Healthcare 67.50 28,831 Diageo Consumer Staples 217.00 22,673 Total N/A 103,236