Chartty reglstration number SC002618 {S¢otland) Company iogistratlon numbor SC234478 {Scotland) STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustoes Mr W D Barr¢)wman Mr J Drennan Mr W Kirkpatrick Jnr MrA Kirkwood Mr S J Mecolm Mr C Seryice Earl of J D J Stair Mrs A Clark MT l m¢Kn￿h1 (Appointed 14 January 2025) MrAdam Mccaig Country of In¢orporatlon United Kingdom Iseotlandl SC234478 Charity reglstrntlon Scotland SC￿2618 Reglsterod offico Hunter & Murray 25 Lewis Street Slranraer Wigtownshire DGg 7LA Indopondont examiner John Simpson FCA Montpelier Professional (Gallowtyi Limited 1 Dashwood Squafe Newton Stewart DG8 6EQ Bankers Royal Bank of Scouand 15 Bridge Street Slranraer DG9 7JA Sollcltors Hvnter & Murray Hunter & Murray 25 Lewis Street stranTaer Wigtownshirg DG9 7LA STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED CONTENTS Page Truslees, report statement of Trustees, responsibilities Independ8nt examinefs report statem￿tt of financial aclivib'es Balance sheet Notes lo the finanaal statements 8-16 STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 OCTOBER 2025 The Trustees present their annual report and financial 51atemenls for the year ended 31 October 2025. Thè financial statements have been prepared in accordan￿ wth the accounting poliaes s81 out in nola 1 10 tha finanaal statements and comply vAlh the Charity's deed of trust, Ihg Charities and Trustee Investment (Scollandl Act 2005, Ihe Charities Accounts {ScoUandl Regulations 2006 las amended} and 'A￿untIng and Reporling by Charity'es.. Stslement of Recommended Practice applicable to eharilies preparing their accounts in accordan￿ wth the Financial R8p0￿.ng Standard applicable in the UK and Republic of Ireland IFRS 102) leffective 1 January 20191" Oblectlv•6 and actfvltles The Charitys objectives are as follows.. A. To contribute to the advancement of agriculture B. To provide opportunities that encourage the improvement of agricultural livestock and develop livest¢xk husbandry skills. C. Provide a plattom for the promotion of those eonnecled wth the rearing of livestock. D. Supwt organisatlons wlh similar objectives. These objectives and activities vrill be undertaken prtmarily within the Slranraer & Rhin3 of Galloway area but not exdusivety and will be based mainly around the Charities main event. the Annual Stranraer Show. publ￿ benafft The trustees have referred lo the guidance eonlalned in the Offlee of the Scottish Charity Regul8brfs general guidance on public benefit when reviewing their objectives and in planning their fijture ?Gtivitie$. In particular. the trustees consider how planned athvitles will contribute to the objectives Ihey have set. G￿nI making policy The charity does not distribute grants. Achlovements and perfoman SignrfKgnt 8Qtw1l￿S and aCh￿VementS ag8insÈ objertives The Charity hosted an extremely $uccessfiJl Stranraer Show in 2025. The aim for 2026 has been to continue ¢)n that success wth the focus being to host an indusive. community event. The Society appointed it's first female Chairperson at the beginning of 2025 and hosted an all female judging panel al the 2025 Show lo ￿lebrate. 11 wa$ a great su￿sS and really raised the profile of the sh¢)w on our soual mèdia channels. The Society were delighted to win a Bursary to attend the Association of Shows & Agriculbjral Organisations National Conferenee in Novemb8r 2025 held al the Great Yorkshire Show Ground in Hairogale. The Show Secret8ry and a committee member attended. 11 was a great opportunrty lo meèt with Show Organisers and event suppliers from all over the UK tr) learn anLI share ideas. The Society has also been selected as a finalist In theAwarding Wfjgtownshire- Event of the Year category wlh the awards dinner being hehj in June 2026. These achievement SUp￿rt all of the charity's objectives and activities. Flnanclal rovlfrw The charity had total in￿ming re80urce$ for the year of £58,777 12C124'. £54.051). Total resources expende(I amounted to £57,19612024.. £58,568}. The Charity had a surplus of £1,581 for the year (2024.. deficit £4,517}. STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE YEAR ENDED 31 OGTOBER 2025 RgseThes policy Under the Tequiremènls of charfly law the Iruslees arè obliged lo define the charity's policy for holding reserves. The intention in establishing this reserves policy is lo ensure the conlinuth.on of the charity's aclivitses. The policy will enable tho charity to meet its legal objectives, provide confidents to supporters and donors seeking to give finanaal support lo a prudently controlled charity and lo ensure that the reserves are al a level sufficient lo discharge 811 the tharily's obligations in the event that il should cease operations. A large prO￿rtIOn of the charity's reserves are held in bank account$. 11 is the Iruslees ￿nSIdered opinion that in the event of the charity having to cease ils operations there should be suffi¢ient reserves available to allow the charity's obligaliorts to be dischaiged. The reserves vthich the charity is required to maintain are those needed lo fund ongoing monthly costs and further development. To this end the trustees have de￿ded that the charity should seek to have general reserves which afe not Invested in fixed assèts of a sum equal to six months general running costs of the charity (described in the Statement of Finonoal Acts'vitie8 as total ￿$oUr￿S expended), estimated al £28,000. The general fund ￿preSentS the unrestricted fvnd available from past operating results. After deduetion for fixed assets it also iepresenls the free reserves of the charity. Al present the free reserves, which amwnl lo £67,620 do reach the level whereby the charity would be able to continue current non restricted activities for more than approximately six months in the event of a significant drop in funding. Th6 trustees therefore consider that the charity is a going con￿rn. Investmont policy Under the memc*andum and articles of association. the charity has the kX)wer to make any investments which the twstges see fil. M8iorrisks The Trustees have assessed the major risks to which the Charty is ex￿sed, and are satisfied that syslgms are in place to mitigate exposure to the major risks. Plans fo¥ futur• perlods The Trustees plan lo continue organising the annual Stranraer Show and work through¢JJt the year on ideas and projects lo improve and enhance the event. Structuro, govemance and management The company is limited by guarantee and a registered Charity governed by its memorandum and articles of deed of trust. Scottish Charity.. SC002618. Company number.. SC234478. The Trustees, who are also the directors for the purpose of company law, and who serNed during thè yèar and up to the date of signature of the financial statements were". Mr W D Barrowman Mr J Drennan Mr M Hastings Mr W ￿rkPatriCk Jnr MrA Kirkwood Mr S J Mccolm Mr C Service Eart of J D J Stair Mrs A Clark Mr l McKnighl (Resigned 14 January 20251 {Appointed 14 January 2025) STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 OCTOBER 2025 ReCmitn￿nI and appointment oftmste8S The directors gf the charitable company are its trustees for the purpose of charlty18w and throu￿Oul this report are collectively referred to 8$ th& trustees. AS set out In the Articles of As80ciation. the thaimian of the trustees 1$ nominated by the trustees. Trustees are appointed or ￿aPpOInted by the members at our annual general meeting, which is normally held in December each year. Trustees are invited to the Board by the current Directors after ass8ssing the potenllal eontribubon the individual could make lo the organisatson. New trustees are brlefed on the operation of the charity, and meet Ihe key staff, they are also infomied of a trustees responsibilities. The charity's strategy and objectives are sel and ￿VieWed by the trustees. The appointed running of the charity is the responsibility of the show sgcretary and eXe￿tive committee. Th8 Trustees, report was approved by the Board of Trustees. Mrs Alison Trustse Date.. STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 OCTOBER 2025 The Truslees, who are also the directors of Stranraer & Rhins of Galloway Agricultural Sougty Limited for the purpo$o of company law, are respon&ble for preparing the Trust8as' Report and the financial statem￿ts in accordan￿ wth applicable law and United Kingdom Accounting Standards Iunited Kirlgdcrfn Generally Accepted Accounting Practice}. Company law requires the Trustees to prepare financial statements for each financial year which gNe a tNe and fair view of the state of affairs of the Charity and of the incoming r8sources and application of resources, including the income and expenditure, of the charitsble company for that year. In p￿paring these financial statements. th8 Trustees are required to.. select suitable accounting policies and then apply them consislenlly-, - observe the methods and principles irb the Charities SORP.. make judgements and estimates that are reasonable and prudent., and prepare the financial statements on the going ￿nCern basis unless it is inappropriate lo presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate aeeounting records that disclose wth reasonable a￿TacY at any time the financial position of the Charity and enable them to ensure that the financial statemerts comply with the Companies Act 2006, the Charities and Trustee Investment Iscotlandl Act 2005 and the Charities Accounts (Scotlandl Regulats'ons 2006. They are also responsible for safeguarding the assets of the Charity hence for taking reasonable steps for the prevention and detects'on of fraud and other Irregularities. STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED I report on the financial stslemenl$ of the Charity for the year ended 31 October 2025. whith are set out on pages 6 to 16. Resp•ctiv• r•sponsibilitles of Trustees and èxamlner The charity lyustees Iwho are also the directors of Stranraer & Rhins of Galloway Agricultural S*xiety Limited for the purposes of company law} are responsible for the preparation of the financial statements In aCCLJrdance wth the terms of the Charities and Trustee Investment {Scotlandl Aet 2005 and the Charities AccoL¢nts (Scotlandl Regulations 2006.The Charity Trustees consider that the audit requiremenl of Regulation 10llllal-lc} of Ihe CharitiesAccounls (sc￿and) Regulat¢'ons 2006 does not appty. It is my responsibility to examine the financial statements as required under section 44111(c} of the Charities and Trustee Investment (Scotlandl Act 2005 and to stale whether parb'cular matters have come to my attention. Bas15 of Independent examlngrfs statemènt My examination was carried out in accordance wth Regulation 11 of the 2006 Accounts Regulabons. An examination ir￿lUdeS a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes wnsideration of any vnu$ual items or disclosures in the accounts. and seeking explanations from you as trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audil and consequently I do not express an audit opinion on the view given by the accounts. Indopendent examlngV$ ststpment In the course of my examination, no matter has wme to my attention 1. which gives me reasonable cause lo believe that in any material respect the requirements.. lo keep accounting record5 in accordance wth Section 44{1 Ila} of the Charitses and Trustee Inve$lment {Scollandl Acl 2005 and Regulation 4 of the CharitiesAccounts IS¢ollandl Regulations 2006. and lo prepare finanrial statements which accord wlh the accounting records and comply wlh Regulation 8 ot the CharrtresAccounts Iscollandl Regulations 2006 have not been mel, or 2. to Nthich, in my opinion, 8ttentlon should be drawn in order lo enable a propér under8tsndlng of the financial statements lo be reached. John Slmpson FCA Montpelier Professional (Galloway) Limited 1 Dashwood Square Newton Stewart DG8 6EQ Date.. STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2025 Unrnstricted Unrestrict•d funds funds 2025 2024 R￿trIcted funds 2024 Total 2024 Notes Income from: Donations and ￿ga¢le$ Charitable activithes Invostmenls 8,118 49,121 1,538 6.699 44.114 1,238 2,000 8,699 44,114 1,238 Total Income 58,777 52,051 2,000 54,051 Expendlture on: Charitable activities 57,196 56,568 2,000 58,568 Total gxpgndlture 57,1 56,568 2,000 58,568 Net Incomellexpendlturo) and movemont In funds 1.581 {4,517) (4,517) Re¢onclllatlon of funds: Fund balanees al 1 November 2024 73,687 78.204 78.204 Fund balances at 31 October 2025 75,268 73,687 73.687 The ststemenl of financial acttvitios includes all gains and losses recognlsed in the year. All income and 8XP8nditure derive from conts"nuing activities. STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED BALANCE SHEET ASAT 31 OCTOBER 2025 2026 2024 Notes Fixed assets Tangible assets 12 7,648 4,811 Currgnt assets Cash * bank and in hand 68,775 70.230 Credltor6: amounts falllng wlthln one year 13 11.155) (1,354) Net current assets 67,620 68,876 Total a88ets less curront Ilabllltles 75.268 73,687 The funds ol the Charty Unrestricted funds 15 75,268 73,687 75.268 73,687 The company 18 entiued to the exemption from the audit requiremont contsingd in section 477 of the Companies Act 20C6, for the year endgd 31 October 2025. The directors ackn¢)wledge th￿r re$ponsibilltses for complying ￿th the requiremgnls of the Companie$ A¢t 2006 with respect to a¢¢ounling records and the preparation of financial ststements. The M¢M￿r5 have not required the company to obtain an audit of 11$ finanaal slalemenls for the year In queS￿on in a￿rdance ￿th seth.on 476. These financial slalemenls have been Prepared in acwdanc8 with th8 provision5 applica￿e to companies subje lo Ihe small companles regime. Mrs Aliso Trustèe lark STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Accounting pollcles Charlty Informatlon Slranraer & Rhins of Galloway Agricultural Society Limited is a private company Ilmiled by guarantee incorporated in Scolland. The registered office is Hunter & Murray, 25 Lewis Slreet. Stranraer. DG9 7L Wigtownshire. 1.1 Ba$ls of preparation The financial stslements have been prepared in accordance with the Charity's Memorandun and Articles of A$s￿l8110n, the Charities and Trustee Investment Iscodand) Act 2005, the Charities Accounts Iseollandl Regulations 2L)06 las amended), FRS 102 °The Financial Reporting Stsndaid applicable in the UK and Republic of Ireland" f'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 2019). The Challty is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of th8 provisions in the SORP for tharities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional eurrency of the Chanty. Monotsry amounts in thesg financial stslefflents are rounded to the nearest £. The financial stataments have been praparéd undèr the historical cost ccnvèntion. The prinupal accounling policies adopted are set out below. 1.2 Golny concern At the lime of approving the financial Statements, the Trustees have a reasonable expectation that the Charrty has adequate reSou￿9S lo continue in operational existence for the foreseeable future. Thus the T￿L￿tee$ continue to adopt the going concern ba&s of accounliNJ In preparing the finanaal slalements. 1.3 Charltable funds Unrestricted fvnds are available for use at the discrekn.on of the Trustees in furtherance of their charitable objective5. Restricted funds are subject to specific Conditions by donors or grantors as to how they may be used. Thg purposes and uses of the restri￿ed funds are sel out in the notes lo the financial slatemenls. Endowment funds are subject to specrfi¢ ￿ndits.0ns by donors Ihat the ¢athl musl be maintained by the Charity. 1.4 Income Income is recognised when the Charity is logally entitled lo il after any performance conditions hwe been met. the amounts can be measured reliably. and il is F￿able that incorne will bg r￿e1ved. Cash donations are recognised on le￿ipl. Other donations a￿ recognised once the Charity has baan notified of the donation, unless performance conditions require deferral of the amount. Income tsx rewverable in relalion to donations reeeived under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf the Charity has been notified of an impending distribution. the amount is known. and receipt is expected. If Ihe amount is r￿1 known, the legacy is tréated as a conlingenl asset. STRANRAER & RHINS OF GALLOWAY AGRICULTURAL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 Accounting policies Icontlnuedl 1.5 Expendlture Resources expended are included in the Statement of Financial Activities on an accruals basis, indusive of any VAT which cannol be recovered. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured * cost and subsequenty measured at GQSt or valuation. net of depreciation and any Impairment losses. Deprèciation is recognlsed so as lo write off the ¢0gt or Vall￿tiOn of assets less their residual values over their usefvl lives on the following bases.. Plant and equipment 200/0 reducing balance The gain or loss arising on Iha disposal of an asset is dètamiined as the drfference betsyeen the sale woceeds and the carying value of the asset, and is recognised in the statement of finanaal activities. 1.7 Impalrment of Ilxed assets At each reporting end dale. the Charity reviews the carrying amounts of ils tangib￿ assets lo determine vthelher there is any indication that those assets have suffered an impairment loss. If any suth ind￿at￿)n exists, the recoverable amount of the assel is estimated in order lo delemiine the extent of the impairmgnt loss lif any). 1.8 Cash and cash equivalents Cash and ¢a$h equivalents indude cash in hand. deposits held at call wth banks, other shoFtrtem) liquid invgstments wth original maturities of three months or less. and bank overdrafts. Bank overdraft5 are show thin borrowngs in current liabiltties. Basle Ilnancial assets Baslc financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortise