Company registration number $C335214 (Scotland)
Charity registration number 5C001050 (Scotland)
## THE GLENCORSE ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
## THE GLENCORSE ASSOCIATION
## LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Country of incorporation
## | Russell
United Kingdom
(Appointed 29 January 2025)
$C335214
(Scotland)
Charity registration
Registered office
Independent examiner
## Scotland
A Firth Road Auchendinny Penicuik Midlothian EH26 0Q2Z
Thyme Tax & Accountancy Ltd
$c001050
36 Angusfield Avenue Aberdeen United Kingdom AB15 6AQ
## THE GLENCORSE ASSOCIATION
## CONTENTS
||Page|
|---|---|
|Trustees’ report|1-3|
|Independent examiner's report|4|
|Statementoffinancial activities|5|
|Balance sheet|6|
|Notestothefinancialstatements|7-15|
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THE GLENCORSE ASSOCIATION
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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT}
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FOR THE YEAR ENDED 31 JULY 2025
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The trustees present their annual report and financial statements for the year ended 31 July 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements
and comply with the Charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005,
the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Stancard applicable in the UK and Republic of Ireland (FRS 102)".
Objectives and activities
The primary mission statement of the Glencorse Association is "to provide recreational and educational facilities and opportunities for
the people in the surrounding area.
More specifically, the association's purpose as set out in section 7 of the Charites and Investment (Scotland) Act 2005 is:
® =the provision of recreational facilities, or the organisation of recreational activities, with the object of imporving the conditions
of life for the persons for whom the facilities or activities are primarily intended, and onlyin relation to recreational facilities or
activities, which are:
® Primarily intended for persons who have need of them by reason of their age, ill health, disability, financial hardship or other
disadvantage, or
® Available to members of the public at large.
® The advancemen: of citisenship or community development.
® The advancemen: of public participation in sport.
e
In furtherance of the above purpose the association seeks to:
® Promote without discrimination on grounds of political, religious, socio-economic status, gender identity, sexual orientation,
race or ethnicity, age. physical or mental capacity, the well-being of persons in the area surrounding the Glencorse Centre,
Auchendinny, Scotland, by providing social, recreational and facilities for the advancement of education and social well-being
with the object of improving conditions of life for the persons residing in the said area.
* Maintain and manage, or co-operate with olher bodies Lo maintain and manage, the Glencourse Centre and its surrounding
grounds.
® Raise funds and administer funds for the achievement of the foregoing objectives.
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Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should
undertake.
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## THE GLENCORSE ASSOCIATION
## TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
## FOR THE YEAR ENDED 31 JULY 2025
Achievements and performance Our team of staff and volunteers have put in considerable effort to maintain the Glencorse Centre as a lively and inclusive community hub for the rural village of Auchendinny and its neighbouring areas, where access to immediate services and facilities beyond the Community Centre is limited.
During 2024-25, the Centre provided various services and opportunities aimed at enhancing the health and wellness of all its users, while also nurturing the development of long-lasting connections and support networks within our local community.
The staff have continued to collaborate with other third sector organisations and nearby businesses, reinforcing existing connections with local community centres and local development trusts. Throughout the past year, we have expanded our partnerships and enhanced our programme of activities. A key achievement was our collaboration with Pentland Athletic Football Club, supporting the development of community football for all ages, from little tots to adults. This initiative has been instrumental in making football accessible to everyone in our area.
Several community groups make regular use of our facilities, ncluding the Howgate Ladies Rural end Scottish Women’s Institute, Eskvale Hockey Club, Italian playgroup, and Renew 26, our vital mental health support group. The breastfeeding group have just celebrated their eleventh anniversary with us and continues to prosper. Further the Centre hosts various other community activities, including art sessions, hockey club meetings, Pickleball, weekly Ceilidh classes, expressive dance and movement sessions. We have also expanded our wellbeing offerings, introducing Sound Baths, Herbal Taster Sessions, monthly Italian social support groups, Talk Therapy and counselling services, giving people opportunities to better both their physical and mental health.
Our own SOkW solar array commenced operation in March 2025 and immediately significantly reduced our environmental impact. It also made a very substantial contribution to our finances.
The Two Pines café joined us mid-July 2025 and is proving to be a most excellent café, promoting community and providing simply the most excellent drinks and cakes.
With the support of our local volunteers, we have worked to plan and execute well-received community events and fundraisers at the Centre. These have successfully brought together people from surrounding areas for fun and socialising and encouraged participation fram small, local businesses. These community events have included Craft Fairs, a Halloween Party, Breakfast with Santa, a Charity Football Event, and a Community Ceilidh.
Our community garden area has been further revamped and revitalised, continuing the work from the previous year.
Financial review
## Reserves policy
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event ef a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This lavel of reserves has been maintained throughout the year.
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## THE GLENCORSE ASSOCIATION
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TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
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## FOR THE YEAR ENDED 31 JULY 2025
## Plans for future periods
- Our future plans encompass several key objectives: ® Sustaining and expanding our diverse programme of social, educational, and leisure activities. ® Enhancing partnerships with local groups, businesses, and organisations to offer new opportunities for the community. * Deve oping our community shelf initiative, supporting local crafters and small businesses. * Completing our outdoor structure project in partnership with Penicuik Men’s Shed, providing them with a permanent workshop space.
- * Continuing to improve our community ga-den, including the creation of tea gerden, and food-growing area. * Ensuring the ongoing upkeep and accessibility of the Centre, maintaining a welcoming anc inclusive space for all. * Expanding volunteering and training opportunities to empower individuals with new skills and experiences. ® Maximising the use of our indoor and outdoor spaces to benefit as many people as possible
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Structure, governance and management
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The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined
ky the Companies Act 2006.
The Glencorse Association is a registered Company limited by guarantee, and a recognised Charity. The articles allow it to be run by an
Executive Board of a maximum of 12 non-executive directors/trustees. Members must stand down each year at the AGM but each
member may be re-elected.
In the year under review the Association has four directors (trustees) and efforts are being made to recruit ne trustees in the next few
years.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of
signature of the financial statements were:
M Reekie {Resigned 29 December 2025)
K Dewar {Resigned 13 October 2025)
TGreen {Appointec 11 March 2025 and resigned 6 February 2026)
G Nicholson {Appointec 29 January 2025 and resigned 9 February 2026)
C Reekie {Resigned 29 December 2025}
| Russell {Appointec 29 January 2025)
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The trustees’ report was approved by the Board of Trustees.
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| Russell
Trustee
28 April 2026
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THE GLENCORSE ASSOCIATION
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INDEPENDENT EXAMINER'S REPORT
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TO THE TRUSTEES OF THE GLENCORSE ASSOCIATION
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| report on the financial statements of the Charity for the year ended 31 July 2025, which are set out on pages 5 to 15.
Responsibilities and basis of report
The charity trustees (who are also the directors of The Glencorse Association for the purposes of company law) are responsible for
the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act
2005 and the Charities Accounts (Scotland) Regulations 2006.The Charity trustees consider that the audit requirement of
Regulation 10(1)(a)-{c} of the Charities Accounts (Scotland) Regulations 2006 does not apply.
It is my respcnsibility to examine the financial statements as required uncer section 44{1)(c) of the Charities and Trustee
Investment (Scotland} Act 2005 and to state whether particular matters have come to my attention.
Independent examiner's statement
In the course of 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 Charities and Trustee Investment (Scotland) Act
2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
® to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities
Accounts (Scotland) Regulations 2006
have not been met, or
2, to which, in my opinion, attention should be drawn in order to enable ¢ proper understanding of the financial statements to be
reached.
1 accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
2 the financial statements do not accord with those records; or
3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other
than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an
independent examination; or
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities applicable to charities preparing their “inancial statements
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}.
| have no concerns and have come across no other matters in connection with the exemination to which attention should be
drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Martin R Watt FCCS
Thyme Tax & Accountancy Ltd
36 Angusfield Avenue
Aberdeen
AB15 6AQ
United Kingdom
Dated: 28 April 2026
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## THE GLENCORSE ASSOCIATION
## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
## FOR THE YEAR ENDED 31 JULY 2025
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||funds|funds||funds|funds||
|||2025|2025|2025|2024|2024|2024|
||Notes|£|£|£|£|£|£|
|Income and endowments from:||||||||
|Donations and legacies|3|86,962|-|86,962|6,117|2,448|8,565|
|Charitable activities|4|69,117|-|69,117|95,268|-|95,268|
|Other trading activities|5|7,742|-|7,742|6,119|-|6,119|
|Investments|6|1,114|-|1,114|1,146|-|1,146|
|Other income|7|13,588|-|13,588|845|-|845|
|Total income||178,523|-|178,523|109,495|2,448|111,943|
|Expenditure on:||||||||
|Charitable activities|t]|217,541|128|217,669|147,041|1,176|148,217|
|Total expenditure||217,541|128|217,669|147,041|1,176|148,217|
|Net expenditure||{39,018)|{128}|(39,146)|{37,546}|1,272|(36,274)|
|Transfers between funds||1,109,268|(1,109,268)|-|-|-|-|
|Net movement in funds||1,070,250|(1,109,396}|(39,146)|{37,546}|1,272|(36,274)|
|Reconciliation offunds:||||||||
|Fund balances at 1 August 2024||{51,732}|1,110,540|1,058,808|{14,186}|1,109,268|1,095,082|
|Fundbalancesat31July2025||1,018,518|1,144|1,019,662|{51,732}|1,110,540|1,058,808|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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## THE GLENCORSE ASSOCIATION
## BALANCE SHEET
AS AT 31 JULY 2025
||||2025||2024|
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Fixed assets||||||
|Tangible assets|13||954,899||981,822|
|Current assets||||||
|Debtors|14|3,624||3,876||
|Cash at bankand in hand||61,978||74,570||
|||65,602||78,446||
|Creditors:amountsfallingduewithinoneyear|15|{838)||(1,460)||
|Net current assets|||64,764||76,986|
|Total assets less current liabilities|||1,019,663||1,058,808|
|The funds ofthe Charity||||||
|Restricted income funds|16||1,144||1,110,540|
|Unrestricted funds|17||1,018,518||(51,732)|
||||1,019,662||1,058,808|
|Warning: Supportandgovernancecostto reallocate (5000codes mustbalance||||||
|to nilto batanceBS)|||(1)||-|
|Warning: Balancesheetnet assets do notequalequity, orthere isasuspense||||||
|batance.|||{1)||-|
|Thecompany is entitled to the exemption from theaudit requirement contained in section477 of the||||CompaniesAct 2006, for the year||
|ended31July2025.||||||
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 28 April 2026
| Russell
Trustee
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THE GLENCORSE ASSOCIATION
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NOTES TO THE FINANCIAL STATEMENTS
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FOR THE YEAR ENDED 31 JULY 2025
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1 Accounting policies
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Charity information
The Glencorse Association is a private company limited by guarantee incorporated in Scotland. The registered office is 4 Firth
Road, Auchendinny, Penicuik, Midlothian, EH26 0Q2.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity'’s governing document, the Companies Act 2006 the
Charit es and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial
Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP “Accounting and Reporting by Charities:
Statement of Recommended Practice appl cable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102)". Te Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these
financial statements are rounded to the nearest f.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of
freehald properties and to include investrrent properties and certain financial instruments at fair value]. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern
basis of accounting in preparing the financial statements.
1.3 8 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of
the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by tne Charity.
1.4 = Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can
be measured reliably, and it is probable that income will be received.
Cash conations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation,
unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under
Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending cistribution, the amount is
known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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## THE GLENCORSE ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 JULY 2025
1 Accounting policies
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(Continued)
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1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is
probable that a transfer of ecanomic benefits will be required in settlement, and the amount of the obligation can be measured
reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including
support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that
activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity
are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges are allocated on the portion of tre asset’s use.
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1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any
impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the
following bases:
Freehold land and buildings Over 50 years
Computers Over 5 years
Spare Asset 1 Over 5 years
The gzin or loss ar’sing on the disposal of an asset is determined as the difference between the sale proceeds and the carrying
value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any
indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is
estimated in arder to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, depos ts held at call with banks, other short-term liquid investments with original
maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial
Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Crarity becomes party to the contractual provisions
of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and
settle the liability simultaneously.
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## THE GLENCORSE ASSOCIATION
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
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FOR THE YEAR ENDED 31 JULY 2025
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1 Accounting policies
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(Continued)
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Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including
transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement
consti-utes a financing transaction, where the transaction is measured at the present value of the future receipts discounted ata
market rate of interest. Financial assets classified as receivable within one year are not amortised.
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Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement
constizutes a financing transaction, where the debt instrument is measured at the present value of the future payments
discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from
suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented
as nor-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised
cost using the effective interest method.
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Derecognition offinancial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the
employment of an employee or to provide termination benefits.
111 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions
about the carrying amount of assets and liabilities that are not readily apparen: from other sources. The estimates and associated
assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ
from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in
the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future
periods where the revision affects both current and future periods.
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## THE GLENCORSE ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
## 3 Income from donations and legacies
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||funds|funds||funds|funds||
|||2025|2025|2025|2024|2024|2024|
|||£|£|£|£|£|£|
||Donations and gifts|3,061|-|3,061|6,117|-|6,117|
||Grants|83,901|-|83,901|-|2,448|2,448|
|||86,962|-|86,962|6,117|2,448|8,565|
|4|Income from charitable activities|||||||
||||||Unrestricted||Unrestricted|
|||||||funds|funds|
|||||||2025|2024|
|||||||£|£|
||Csfe sales|||||6,457|35,919|
||Community shop|||||436|693|
||Hall lets|||||62,224|58,656|
|||||||69,117|95,268|
|5|Incomefrom other trading activities|||||||
|||||||Unrestricted|Unrestricted|
|||||||funds|funds|
|||||||2025|2024|
|||||||£|£|
||Fundraising events|||||7,742|6,119|
|6|Income from investments|||||||
|||||||Unrestricted|Unrestricted|
|||||||funds|funds|
|||||||2025|2024|
|||||||£|£|
||Interestreceivable|||||1,114|1,146|
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## THE GLENCORSE ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 JULY 2025
|7|Otherincome|||
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2025|2024|
|||£|£|
||Other income|13,588|845|
|8|Expenditure on charitable activities|||
|||Heading #ac982|Heading #ac982|
|||2025|2024|
|||£|£|
||Direct costs|||
||Staff costs|501|-|
||Depreciation and impairment|27,731|27,442|
||Insurance|2,809|2,694|
||Light & hest|6,746|15,572|
||Household & cleaning|9,591|3,068|
||Repairs & renewals|9,301|5,006|
||Projects|93,372|5,771|
||Cafe purchases|2,836|11,807|
||Adverlising & markeling|2,066|1,084|
||Community shop expenses|2,710|1,269|
|||157,663|73,713|
||Share of supportand governance costs (see note 9)|||
||Support|59,576|72,448|
||Governance|430|2,056|
|||217,669|148,217|
||Analysis byfund|||
||Unrestricted funds|217,541|147,041|
||Restricted funds|128|1,176|
|||217,669|148,217|
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## THE GLENCORSE ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 JULY 2025
## 9 Support costs allocated to activities
|Support costs allocated to activities|||
|---|---|---|
||2025|2024|
||£|£|
|Staff costs|55,122|69,033|
|Telephone& Internet|666|629|
|Office costs|107|67|
|Staff welfare & training|405|205|
|Subscriptions|2,675|2,251|
|Bank charges|600|727|
|Goverrance costs|430|1,591|
||60,005|74,503|
||2025|20624|
|Governance costscomprise:|£|£|
|Accountancy|430|1,591|
||430|1,591|
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
## 11 Employees
The average monthly number of employees during the year was:
||2025|2024|
|---|---|---|
||Number|Number|
||3|2|
|Employment costs|2025|2024|
||£|£|
|Wages and salaries|53,619|63,912|
|Other pension costs|2,004|5,121|
||55,623|69,033|
There were no employees whose annual remuneratior was more than £60,000.
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## THE GLENCORSE ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 JULY 2025
## 12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
|13.|~—‘Tangible fixed assets||||||
|---|---|---|---|---|---|---|
|||Freehold landand|Computers|Spare Asset1|1|Total|
|||buildings|||||
|||£|£||£|£|
||Cost||||||
||At 1 August 2024|1,216,618|7,794|24,173||1,248,585|
||Additions|-|809||-|809|
||At 31 July 2025|1,216,618|8,603|24,173||1,249,394|
||Depreciationand impairment||||||
||At 1 August 2024|246,184|6,622|13,958||266,764|
||Depreciation charged in the year|24,332|1,721|1,678||27,731|
||At 31 July 2025|270,516|8,343|15,636||294,495|
||Carryingamount||||||
||At 31 July2025|946,102|260|8,537||954,899|
||At 31 July2024|970,435|1,172|10,215||981,822|
|14|Debtors||||||
|||||2025||2024|
||Amounts fallingdue within one year:|||£||£|
||Trade debtors|||3,607||3,876|
||Other debtors|||17||-|
|||||3,624||3,876|
|15|Creditors: amounts falling due within oneyear||||||
|||||2025||2024|
|||||£||£|
||Other taxation and social security|||28||-|
||Accruals and deferred income|||810||1,460|
|||||838||1,460|
-13-
## THE GLENCORSE ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 JULY 2025
## 16 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
**----- Start of picture text -----**
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|At|1 August|2024|Incoming|Resources|Transfers|At|31|July|2025|
|resources|expended|
|£|£|£|£|£|
|Building|Fund|1,109,268|-|-|(1,109,268}|-|
|Orcorme|Trust|Fund|1,272|-|(128)|-|1,144|
|1,110,540|-|(128)|(1,109,268}|1,144|
|Previous|year:|At|1|August|2023|Incoming|Resources|Transfers|At|31|July|2024|
|resources|expended|
|£|£|£|£|£|
|Building|Fund|1,109,268|-|-|-|1,109,268|
|Orcorme|Trust|Fund|-|2,448|(1,176)|-|1,272|
|1,109,268|2,448|(1,176)|-|1,110,540|
**----- End of picture text -----**
## 17 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
**----- Start of picture text -----**
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|At|1 August|2024|Incoming|Resources|Transfers|At|31|July|2025|
|resources|expended|
|£|£|£|£|£|
|General funds|(51,732)|178,523|(217,541)|1,109,268|1,018,518|
|Previous|year:|At|1 August|2023|Incoming|Resources|Transfers|At|31|July|2024|
|resources|expended|
|£|£|£|£|£|
|General funds|{14,186}|109,495|(147,041)|-|(51,732)|
**----- End of picture text -----**
-14-
## THE GLENCORSE ASSOCIATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 JULY 2025
## 18 Analysis of net assets between funds
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds||
||2025|2025|2625|
||£|£|£|
|At 31July 2025:||||
|Tangible assets|954,388|$11|954,899|
|Current assets/(liabilities}|64,130|633|64,763|
||1,018,518|1,144|1,019,662|
||Unrestricted|Restricted|Total|
||funds|funds||
||2024|2024|2024|
||£|£|£|
|At 31 July 2024:||||
|Tangible assets|(128,084)|1,105,906|981,822|
|Current assets/(liabilities)|76,352|634|76,986|
||(51,732)|1,110,540|1,058,808|
## 19 Related party transactions
There were no disclosable related party transactions during the year (2024 - ncne).
-15-
This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic form, authentication and manner of delivery under section 1072 of the Companies Act 2006.