REGISTERED CHARITY NUMBER: SC000942
THE SCOTTISH ROCK GARDEN CLUB
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
Martin Aitken & Co Ltd Chartered Accountants Caledonia House 89 Seaward Street Glasgow G41 1HJ
THE SCOTTISH ROCK GARDEN CLUB
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 14 |
| Detailed Statement of Financial Activities | 15 | to | 16 |
THE SCOTTISH ROCK GARDEN CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
The trustees present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objects
The Club exists to foster an interest in mountain and woodland plants and other plants and bulbs suitable for the rock garden, bog garden, wild garden or alpine house. The strategy of the Club is to spread knowledge of these plants and to encourage their cultivation by publishing a regular journal for its members, by holding regular shows and events, by promoting a free access website available worldwide and by sponsoring individual activities whereby members of the public can increase their interest in such plants.
Grantmaking
Applications for awards from available funds are made in writing to the Secretary or the Diana Aitchison Fund Administrator as appropriate and are considered by sub-committees established by Council for specific purposes. Thereafter the recommendations of the sub-committees are subject to approval by Council.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In accordance with the Club's charitable objectives, the Club continued to expand knowledge and appreciation of rock garden plants amongst members and the general public. Two issues of the journal were published for members during the year. Our website is open to everyone via the internet. We continue to develop our website and online talks, recognising that these give optimum capability to educate members and the wider public wherever they reside.
In the current year the Club continued to award new complimentary annual memberships, which are available to students to encourage them to develop a long term interest in rock garden plants. The Club held a full programme of shows and meetings.
Incoming resources were £66,455 (2023 - £66,513) with an increase in investment income and sales to members this year. Subscription income continued a slow decline to £32,721 (2023 - £33,962) and tax recovered under the Gift Aid scheme contributed £3,918 (2023 - £4,536).
In total £35,994 (2023 - £41,255) was spent on charitable educational activities, a slight decrease on the previous year. This mainly comprised general sponsorship payments, and also awards made from the Diana Aitchison restricted fund.
Council is always aware of the need to contain administrative costs and there was an increase to £14,892 this year (2023 - £12,790), although there was more charitable activity generally during the year.
The Club activities therefore resulted in a surplus of £6,804 (2023 - surplus £4,264) before realised and unrealised gains and losses on investments.
Investment performance
The investment policy is set by Council with specialist input from professional advisers. There are no restrictions on the Club's powers to invest. The current policy is to invest in low to medium risk securities providing a consistent and growing income with reasonable prospects for capital appreciation in excess of inflation when viewed over a number of years. The Stock Markets rose in value during the year and produced an unrealised increase in value of £42,693 (2023 - decrease £4,193) on investments held. Investments sold produced realised gains on sale of £2,701 (2023 - £6,404) during the year.
FINANCIAL REVIEW
Reserves policy
It is the policy of the Club to retain adequate general funds to safeguard the continuance of the Club's activities. At the end of the year, unrestricted funds totalled £363,778 (2023 - £341,865). The Club also holds the restricted Diana Aitchison bequest fund which is managed in accordance with the trust which established this fund. At the end of the year this restricted fund totalled £359,783 (2023 - £329,498).
Page 1
THE SCOTTISH ROCK GARDEN CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution
The Scottish Rock Garden Club is constituted as a club and is governed by its Constitution. This is a written document last revised significantly in November 2015. The Club is recognised by HM Revenue & Customs as a Scottish Charity, registration number SC000942.
Organisation
The management of the Club is in the hands of Council who are the trustees. Members of Council together with other office bearers are elected at the Annual General Meeting. Some members are co-opted by Council, others are appointed, and all are elected or approved annually at the next Annual General Meeting (AGM) of the Club.
The Club's principal officers are the President, Secretary, Treasurer, Subscription Secretary and Editor of the journal. The officers and Council members are elected by ballot of the members at the AGM. The President is elected to serve for a single term of three years and the remaining officers are elected to serve for one year at a time. All these positions are voluntary and unremunerated.
The names of the officers and Council members who held office during the year are set out below. Council held both physical and online meetings during the year in addition to the AGM.
Council approves all significant activities and expenditures in advance of entering into any commitments. Officials are given written, delegated powers of authority to ensure the efficient day to day running of the Club. All activities entered into by the Club are managed by members who give their time on a voluntary basis. A number of officials are offered payments for services provided. These are agreed annually in Council and are non-contractual.
Local groups, after recognition by Council, are represented on standing committees but are otherwise autonomous and their financial affairs do not fall within the remit of Council, although assistance may be offered to them. The Club's office bearers are listed in the Club's year book usually published each January, with news updates given to members in January and July each year.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
SC000942
Principal address
Cedar Cottage Aberfoyle Road Balfron Station Glasgow G63 0SQ
Page 2
THE SCOTTISH ROCK GARDEN CLUB
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
Trustees
Independent Examiner
Martin Aitken & Co Ltd Chartered Accountants Caledonia House 89 Seaward Street Glasgow G41 1HJ
Approved by order of the board of trustees on 26 October 2024 and signed on its behalf by:
- Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SCOTTISH ROCK GARDEN CLUB
I report on the accounts for the year ended 30 June 2024 set out on pages five to fourteen.
Respective responsibilities of trustees and 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's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) 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 the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 seeking explanations from you as 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 connection with my examination, no matter has come to my attention :
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
-
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
The Institute of Chartered Accountants of Scotland
Martin Aitken & Co Ltd Chartered Accountants Caledonia House 89 Seaward Street Glasgow G41 1HJ
27 March 2025
Page 4
THE SCOTTISH ROCK GARDEN CLUB
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| Unrestricted fund Notes £ INCOME FROM Subscriptions, donations and legacies 2 38,829 Other trading activities 3 10,398 Investment income 4 7,795 Total 57,022 EXPENDITURE ON Raising funds 6,741 Charitable activities 5 Educational activities 35,274 Publicity expenses 2,024 Administrative costs 12,245 Total 56,284 Net gains on investments 21,175 NET INCOME 21,913 RECONCILIATION OF FUNDS Total funds brought forward 341,865 TOTAL FUNDS CARRIED FORWARD 363,778 |
Restricted fund £ - - 9,433 9,433 - 720 - 2,647 3,367 24,219 30,285 329,498 359,783 |
2024 Total funds £ 38,829 10,398 17,228 66,455 6,741 35,994 2,024 14,892 59,651 45,394 52,198 671,363 723,561 |
2023 Total funds £ 40,608 9,804 16,101 |
|---|---|---|---|
| 66,513 | |||
| 7,784 41,255 420 12,790 |
|||
| 62,249 | |||
| 2,211 | |||
| 6,475 664,888 |
|||
| 671,363 |
The notes form part of these financial statements
Page 5
THE SCOTTISH ROCK GARDEN CLUB
BALANCE SHEET 30 JUNE 2024
| Notes FIXED ASSETS Investments 11 CURRENT ASSETS Stocks 12 Debtors 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
2024 £ 636,115 3,898 18,085 75,657 97,640 (7,696) 89,944 726,059 (2,498) 723,561 363,778 359,783 723,561 |
2023 £ 552,330 2,848 58,719 76,762 138,329 (16,311) 122,018 674,348 (2,985) 671,363 341,865 329,498 671,363 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2024 and were signed on its behalf by:
The notes form part of these financial statements
Page 6
THE SCOTTISH ROCK GARDEN CLUB
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The charity is registered with OSCR. The registered charity number is SC000942 and the registered address is Cedar Cottage, Balfron Station, Glasgow, G63 0SQ.
The presentation currency of the financial statements is Sterling (£).
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Charitable activities
Costs of charitable activities are incurred on the club's charity work, including the support costs and costs relating to the governance of the charity apportioned to charitable activities.
Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include governance costs which support the charity's work. These costs have been allocated to expenditure on charitable activities.
Tangible fixed assets
Equipment is stated at cost less depreciation calculated to write off the cost evenly over its expected useful life of between three to five years. The Club's trophies and library have not been valued.
continued...
Page 7
THE SCOTTISH ROCK GARDEN CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES - continued
Stocks
Stocks of goods for resale are included at the lower of cost and estimated selling price less costs to complete and sell.
Taxation
Income and expenditure is entered net of VAT where applicable. The Club is recognised as a charity by HM Revenue and Customs. Accordingly its investment income, including capital gains, is exempt from taxation and income tax is recoverable on subscriptions and donations received under Gift Aid.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The nature and purpose of the restricted fund is included in the notes to the financial statements.
Investments
Investments are included at market value. Realised gains and losses (representing the difference between sale proceeds and market value at the previous financial year end or purchase cost if acquired during the financial year) and unrealised gains and losses (representing the movement in the market value of investments over the financial year or from their date of purchase if acquired during the financial year) are dealt with in the Statement of Financial Activities. In the case of a permanent diminution in the value of investments, provision is made in the Statement of Financial Activities to reduce the carrying value of investments to their recoverable amount.
Dividends and interest income are included as investment income in the period to which they relate. Both dividend and interest income are included gross of applicable tax credits.
Financial instruments
The Club only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.
Provisions
Provisions are recognised when the Club has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the Club will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.
Judgements
The Club considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The trustees consider there are no such significant judgements.
continued...
Page 8
THE SCOTTISH ROCK GARDEN CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
2. SUBSCRIPTIONS, DONATIONS AND LEGACIES
| 2. SUBSCRIPTIONS, DONATIONS AND LEGACIES |
||
|---|---|---|
| Donations Gift aid Subscriptions 3. OTHER TRADING ACTIVITIES Sales to members |
2024 £ 2,190 3,918 32,721 38,829 2024 £ 10,398 |
2023 £ 2,110 4,536 33,962 |
| 40,608 | ||
| 2023 £ 9,804 |
Further analysis of Income from Trading Activities is provided as follows:
| Seed | Club | Sundry | |||
|---|---|---|---|---|---|
| Exchange | Sales | Sales | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Sales to members | 9,760 | - | 638 | 10,398 | 9,804 |
| Cost of sales | 3,515 | - | 308 | 3,823 | 6,771 |
| Gross surplus/(deficit) | 6,245 | - | 330 | 6,575 | 3,033 |
| Expenses | 2,918 | - | - | 2,918 | 1,013 |
| Surplus/(deficit) | 3,327 | - | 330 | 3,657 | 2,020 |
Seed Exchange costs include direct costs of distribution and expenses include directly attributable administrative costs.
4. INVESTMENT INCOME
| Dividends on UK listed investments Bank and other interest Other interest |
2024 £ 17,024 162 42 17,228 |
2023 £ 15,902 195 4 |
|---|---|---|
| 16,101 |
continued...
Page 9
THE SCOTTISH ROCK GARDEN CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
5. CHARITABLE ACTIVITIES COSTS
| Educational activities Publicity expenses Administrative costs 6. GRANTS PAYABLE Educational activities |
Grant funding of activities Support Direct (see note costs (see Costs 6) note 7) £ £ £ 35,274 720 - 2,024 - - 13,852 - 1,040 51,150 720 1,040 2024 £ 720 |
Totals £ 35,994 2,024 14,892 |
|---|---|---|
| 52,910 | ||
| 2023 £ 750 |
The income from the restricted Diana Aitchison Fund is used for charitable purposes in accordance with the donor's wishes. Awards are made to support aspiring nurserymen and women, and to help educate young gardeners in accordance with the charity's objectives.
7. SUPPORT COSTS
| SUPPORT COSTS | ||
|---|---|---|
| Governance | ||
| costs | ||
| £ | ||
| Administrative costs | 1,040 | |
| Support costs, included in the above, are as follows: | ||
| Governance costs | ||
| 2024 | 2023 | |
| Administrative | Total | |
| costs | activities | |
| £ | £ | |
| Independent examiner's fees | 1,040 | 1,020 |
8. TRUSTEES' REMUNERATION AND BENEFITS
Some trustees (and other officials) are offered payments for services rendered, or the market rate for speaking engagements on behalf of the Club. These amounts may or may not be accepted, even though they are offered within the guidelines published by OSCR. The following persons who were trustees at some point in the year accepted the following amounts:-
==> picture [310 x 36] intentionally omitted <==
£ 1,310 1,160
continued...
Page 10
THE SCOTTISH ROCK GARDEN CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
8. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
Occasional transactions occur between the Club and trustees, for instance in connection with the supply of plants for use on the Club's stands at local flower shows. All such transactions take place at arm's length on normal commercial terms.
Trustees and members attending Council and other meetings in an official capacity may claim reimbursement of travel expenses and mileage costs. Mileage is paid at a lower rate than the current standard approved HMRC mileage rates. They may also claim reimbursement of any necessary out-of-pocket expenses on Club business. During the year the following expenses and reimbursements were paid to them, of which 10 (2023 - 5) recipients were trustees at some point during the year :-
9.
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Travel expenses and mileage | 511 | 453 | ||
| Reimbursements for office stationery and other costs paid on behalf of the Club | 2,906 | 2,159 | ||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME FROM Subscriptions, donations and legacies 40,608 Other trading activities 9,804 Investment income 7,420 Total 57,832 EXPENDITURE ON Raising funds 7,784 Charitable activities Educational activities 40,505 Publicity expenses 420 Administrative costs 10,888 Total 59,597 Net gains on investments 1,091 NET INCOME/(EXPENDITURE) (674) RECONCILIATION OF FUNDS Total funds brought forward 342,539 TOTAL FUNDS CARRIED FORWARD 341,865 |
Restricted fund £ - - 8,681 8,681 - 750 - 1,902 2,652 1,120 7,149 322,349 329,498 |
Total funds £ 40,608 9,804 16,101 |
||
| 66,513 | ||||
| 7,784 41,255 420 12,790 |
||||
| 62,249 | ||||
| 2,211 | ||||
| 6,475 664,888 |
||||
| 671,363 |
continued...
Page 11
THE SCOTTISH ROCK GARDEN CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
10. TANGIBLE FIXED ASSETS
| 10. | TANGIBLE FIXED ASSETS | |
|---|---|---|
| Equipment | ||
| £ | ||
| COST | ||
| At 1 July 2023 and 30 June 2024 | 2,827 | |
| DEPRECIATION | ||
| At 1 July 2023 and 30 June 2024 | 2,827 | |
| NET BOOK VALUE | ||
| At 30 June 2024 | - | |
| At 30 June 2023 | - | |
| 11. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 July 2023 | 552,330 | |
| Additions | 176,018 | |
| Disposals | (134,926) | |
| Revaluations | 42,693 | |
| At 30 June 2024 | 636,115 | |
| NET BOOK VALUE | ||
| At 30 June 2024 | 636,115 | |
| At 30 June 2023 | 552,330 |
All investment assets are UK investments and are listed on a recognised stock exchange. The historic cost of the investments at the year end was £588,104 (2023 - £540,478).
| 12. STOCKS Stocks 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Sums held by stockbrokers |
|
|---|---|
continued...
Page 12
THE SCOTTISH ROCK GARDEN CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Other creditors | 724 | 385 | ||||
| Accruals and deferred income | 6,972 | 15,926 | ||||
| 7,696 | 16,311 | |||||
| 15. | CREDITORS: AMOUNTS FALLING | DUE AFTER MORE | THAN ONE YEAR | |||
| 2024 | 2023 | |||||
| £ | £ | |||||
| Accruals and deferred income | 2,498 | 2,985 | ||||
| 16. | ANALYSIS OF NET ASSETS BETWEEN FUNDS | |||||
| 2024 | 2023 | |||||
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| £ | £ | £ | £ | |||
| Investments | 292,871 | 343,244 | 636,115 | 552,330 | ||
| Current assets | 80,377 | 17,263 | 97,640 | 138,329 | ||
| Current liabilities | (6,972) | (724) | (7,696) | (16,311) | ||
| Long term liabilities | (2,498) | - | (2,498) | (2,985) | ||
| 363,778 | 359,783 | 723,561 | 671,363 | |||
| 17. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1/7/23 | in funds | 30/6/24 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| Dryas Fund | 341,865 | 21,913 | 363,778 | |||
| Restricted funds | ||||||
| Diana Aitchison Fund | 329,498 | 30,285 | 359,783 | |||
| TOTAL FUNDS | 671,363 | 52,198 | 723,561 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| Dryas Fund | 57,022 | (56,284) | 21,175 | 21,913 | ||
| Restricted funds | ||||||
| Diana Aitchison Fund | 9,433 | (3,367) | 24,219 | 30,285 | ||
| TOTAL FUNDS | 66,455 | (59,651) | 45,394 | 52,198 |
continued...
Page 13
THE SCOTTISH ROCK GARDEN CLUB
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
17. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds Dryas Fund Restricted funds Diana Aitchison Fund TOTAL FUNDS |
At 1/7/22 £ 342,539 322,349 664,888 |
Net movement in funds £ (674) 7,149 6,475 |
At 30/6/23 £ 341,865 329,498 |
|---|---|---|---|
| 671,363 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| Dryas Fund | 57,832 | (59,597) | 1,091 | (674) |
| Restricted funds | ||||
| Diana Aitchison Fund | 8,681 | (2,652) | 1,120 | 7,149 |
| TOTAL FUNDS | 66,513 | (62,249) | 2,211 | 6,475 |
Restricted funds comprise legacies and other gifts to the Club, held for specific purposes. The club has one separate restricted fund, the Diana Aitchison Fund, which is mainly invested in stock exchange investments.
18. RELATED PARTY DISCLOSURES
There were no related party transactions during the year, other than as noted in note 8.
Page 14