THE INCORPORATION OF GARDENERS OF GLASGOW )Tl REPORT and SUIMIMARISED FI,AN1 CIAL STATEIMEfyTS ST FOR THE YEAR EINDED 31 MAY 2024
The lD¢orpor•¢ion of Cardeners of Gl*sgow Contents Page Charity InforntIOll Trustees, Anllual Report Independeut Ex&miti&s ReTrrt stsiement of Financlal Activities Balance Sheet Notes to the Financial Statements EO-21
The IDcorporation of GardeDeT5 of G14sgow Trnstees. Report for the ye8r ended 31 May 2024 Charity Name: The Intoryorxtiou tsf Crdeners of GISEOW Charity Registration Number: Trknst¢os: Honorary Life Marters: Trade5 House Repres¢nt*tiY¢s Clerk Principal Office: Page I
Tbe Incorporjtion of Gardeners ofGl8sgow Trustets, ADnual Report for the year eDded 31 May 2024 Independent ExArniDer: 79 R¢tthewRoad Paisley. PA3 4DA lthv¢stmtnt Advisers: EvclyTh PartllU5 130 St Vineeni Strt¢t Gl&sgow G2 5SE Pag¢ 2
The IDcDrporntion olGardener5 of Glasgow Trnste. Annual Report for the year ended 31 May 21124 The TnteeS present their report and the finallcial statements of the cb8rity for the year ended 31 May 2024. The financial statements have been prepared in accordance with the accounting p)licies set out in note to the financial ststements and compl> with the charity's Rules and Bye-taws, the Cimities and Trustee tnvestmeni (Scoilat)d) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (&5 amended) and"Accounting and Rew)rtiDg by Cbarities: Staiement of Recommended Practice applicable to charities preparillg their awounts ID accordance with th¢ Financial Reporting Standaxd applicable in the UK and Republic of Irtland (FRS 102)" (as amended for accounttng periods commencing from l Jaullary 2019). OBJECTIVES AND ACTIVITIES Since the abolition of certain exclusiv¢ trading privileges within the Burgb of Gl&sgow in 1846. the objects of the Incorpordtioll have &ssumed an entirely benevolent character. These are primarily the SUprt of 1lldige meberS alld the widows, orphans and children of M¢mTS. The IncOrration also pursues educational projects connected wrth horticulntre. In addition, under the heading of the.let Gl&8gow Flourish" presentstIo the Incotp(Trrdtion encourages. by way of awards, borticulbjre and gardening displays by conmnercial bodies within the Cfftty of Gl&%gow. AcHvEmE[*1fS AND PERFORMANCE Lffte many of the tDcorpordtioDS who tnake up the 14 Trades of G1&5gow, we face an uncertoin firture with our rnelnbership number5 an(L rnore imrrf)rralltty. with xtive members. so we are delighted by the enthu5i&sTn and commitm¢nt of our re¢eni addition of )'oung Master Court membets. W¢ have seen the fi]rther deY¢lopment of our w¢bsit¢ enersof las ow.0 and the re-launch of our Facebook page. We also added a new LiTWln presence and are hoping these social media plarfortns will reacb out to our membership with news and encourdge young professionats intrrested in our Craft and its charitsble works to join us. Th¢ Futures Group has been halt¢d for the past year as the fu]1 Master Court have held di%ussions on p055ible vrnys io recrnit new m¢mbers an¢L more iportantly, those interested in joining the M&st¢r CourL This yfdr saw the fJr5t time in our known bistory where the Craft has no Collector. However, the Late Collector kiDdly Stepped in to assist the Deacon where P9S517)1¢. The essential purpose of our Craft is, of ¢ourse, for charitsble 8Dd benevolent purwjses including the ongoing sllpport of our b¢neficiari¢s, who are now sadly reduced in numbers as we Struggle to identify new candidates. We hav¢, howeY¢r, 5UPPOrted a number of worthy cause5 including a dortation of £3,004 to the Teapot Trust for two benches for the new EIJLM'here Garden in the 0ndS of the Rosal Hospital for Children. The Deacon with Deacon and Hon. Life Master Ex-D¢acon were delighted to attend the official opening in Jue. We continue to support students studying courses relating to horticulture with grants and supplies and are excited io see the impact one newty laut)cbed project the City of Gla$8ow College will have on the grounds around the House for an Art Lover in B¢llahouston Park in the coming years. In the first instance, we will provide tools and on-site storage to allow swdents to gain hands 01] horticultural skills, with the intention to continue ti) dei elop and eNpalld th¢ project in years to come. We a]50 provided £900 to 5UPPOrt PhD studenta5 a travel grant for her sthdy trip to Singapore and North Americ& We IIN)k fonvard to bearing more of her experiences when she r¢turns. Page 3
Tbe Incorporation of G4rdeners ofGl*sgow Trnstees. Annual RetM)rt ror the year ended 31 May 2024 ACHIEVEMEfiTS AND PERFORMANCE (eont'd) Our new focus ts to encourage the planting of trees and plants acTh)ss the cty 10 511pfM)rt our disappearing pollinating itisects. To gain an iDsi¥)t inlo this ¢xtyemely important plan for the Craft. the Deacon orgatiised a Metnber'5 Evening Juty, when we heard from a very entertaining and tnf0tative tealn associated with our frtends ID the Worshipfid Cornpanies of Gardeners and Wax Cljandlers of Londor4 who are leading the Pollinating [ndOn Together iniiiative. Following tbis event, some of the other Incorporations Trades House have atready sbown all interest in particiwing in the initiative. with our Craft leading the collaboration. We have pledged io donate £3,000 over 18 months to SPODsora number of bee friendty seed.bomb workshops for children and community groups around th¢ city, teaching thern about field to table production of so much of the fOj we eaL We continue to support the Glasgow Allotments ForunL with the D¢awn presenttng the prizes to the new plot holders at their AGM Our previ($ donations aTe already sFtowitig b¢neffts to the local communities. such as the beautiful floral displays of spriDg butbs seen wround the Maggie's Centre and the irnprov¢Tn¢nt of the garden area in front of the Beatson Cancer Centre. Where possible. plaques are being erected to acknowledge each donation made by the Incorporation, to let people know about us and the difference we ar¢ making it) our city. One of the highlights of our activities is the long-estsbli8hed t¢t Glasgow Flourith A7rdS, which recogTris¢ the flordl displays of busine55es and public properties around th¢ ¢ity. We were able to expand the areas covered again to cover more of the city. thanks to our tncreL%e in volunteer numbers for 2023: including the then Collector of the Hous¢. The turnout of prizewinners at the Award% Ceremony in Februarv is testament to the htgh regard in which this con4)etition is held. With over 100 entries judged and tDore than 70 awards presented at the spring event: the overall winner of the Robertson Silver Spade w&8 announced for two neighbouring Properties in the same ownership and jointly responsible for the colourl display5.' Meze Meze arLd Ust& The judging for the 2024 Awards ts well unden¥ay, with even ]nore volunteeT5 joining including members of oth¢T Crafts, so the postcode areas covered are gradually r¢tiuniDg Lowards the pre-covid 5iZ£. FINANCIAL REVIEW Results for the year Per the Statement of Finallcial Acttvitic5 on Page 8, th¢ Incorporation reported Net kncome (i.e. a Surplus) of £133,034 (2023 Defi¢it- £29.522) after unrealtsed gaius of £116.459 and realised gains of £10,521. At 31 May 2024. the tncorporation had total fid$ of £1,782,384, otwhich £116,125 reled to Restricttd Funds whilst £1,650239 (93th/o) were held In Inyesttllents. P8g¢ 4
The In¢oTporatiokn of Gardeners ofGlasgow Trtets. ADnuI Report for tbe year eDded 31 May 2024 Reservu pollcy The policy of the Trustees is to hold a level of investtDents in ordtr to generate a retslm sufficient to meet the IncorratIOn.s annual staff. nmning and gov¢rnan¢e costs. There is also an Old Mejnbers. Fund which was origtnally constituted many yeaT% ago by a legacy frorn a lale Member. The income 15 at the disw)sal of the Deacon for the distribution amongst friends and relatives ol Mejnbers being in need by r&M of age. ill health. disability, fJnan¢ial hardship or other disadvantage. Risk mngement The TnEStees have Identifi and ¢onsidergJ the major strategi4 fitwKial and op¢ration risks to which the charity is exposed and have establishtsj systerns to enable those risk5 to be mitigated. Grant M&king policy Grants are awarded at the discretion of the Trustees in accordance with the objectiV¢5 of the clwity. Investmelll policy The Trustees have the power to invest ID terrns of Rule 30. In the Equity and Fixed Interest portfolios of the Generdl Fund and also in the Old Members. Fun(L the invesbDent objective is to maintain a balance between Capital GrOth and Income with an emphasis on maintailliD8 or hanCing the Clrent income levels. The Trustee5 engage the servi¢e5 of Evelyn Partner5 who odvised the Incorporation on their investments during the accounling year. STRUCTURE, GOVERNAf4cE AND MANAGEMENr Govtrning doeumellt About the year 1605, on an applitiOn frofftn a number of prathical gardeners, the original Charter of the tncorwraiion was grdnied by the Lord Provosi Magistrates and Council of the Royal BuJEh of Glasgow. conferring rights and privileges stmilar to those grdnted to other Incorwrations. This Charter was lost in l(A6, and a new Charter was not obtained until 1690. The present Rules and Bye-Laws were adopted at vaxious meetings of the Incorporation comrnencing on 24 Jut 1902. The IncortK)fdtion is a recognised S¢ottisb charity, No. SC0004606. Tryste¢s The Trustee5 serving during the year and sitKe the Y end are detailed on page l. Appointm¢nt of Trnstees Each yeax the Deaco is entitled to appotnt a Trustee (the Deacon's Master) in temis of the Rules and Bye-Laws. Such Master ts eligible for subswuent electioll by the IncorratiO again in iems of the Rules and Bye-Laws. The appointment of othtr Tnt5tees is through electioll by the Incorporation &s aforesaid New Trustees undergo illstruction to brief them of their legal obligatiOELS under charity law. OTg&ni5alioDAI strnctu The affairs of the Incorpordtion are malla8 by the Trustees with duties being delegated to the Clerk and Deputy Clerk. Th¢ TnCeS meet quarterly. Pag¢ 5
The IncorpDratioD of Gardeners of Glasgow TrsteeS. Report ror the year ended 31 Mgy 2024 Key MgnagetneDt PersonD¢I Given their involveffleut &% described above. the TrSteeS coD5idei thetDselves &s the cRTrarity's key manag¢ment persomiel, in charge of directing at controlling the charity and over5eeÈng its daily activitie5. Ail Trugtees give of their time freely and no Trstee remuttetation Wd5 paid in the year. Detai]5 of Trustees, expenses and related paty transactions are disclosed in Notes 17 atml 19. This Report w&8 approved bv the TeeS on 21 AuEust 2024 and siened OT¥ their behalf by.. DeacoTh'Trustee Late Collector Trlee
The Jneorporation of Gardeners of Glasgo Independent Ex8miner'$ Report to th¢ Tn of The Incorpor•tion ofG*rdeneT5 of Glasgow I reFX)rt on the flljancial Statements of The In¢oTWThtion of Gardeners of Gl&%gow forthe year ended 31 May 2024 which are set out on pages 8 to 21. Respective respoBsibili¢ies of Trustees and ExamiDer 'The cTrwity's Trustees are responsible for the prq)aratioll of the fqwjcial statements in accord8mce with the temis of the Charities and Trustee Investment (Scoiland) Act 2005 and the Chille5 Accoullts (Sc4)tland) Regulations 2006 (as amended). The charity's Tree5 consider that the audit requirement of Regulation 10(l) (a) to {¢) of the 2006 Ac¢oullts regulations does not appty. It is my SponSIbIlIty to examine the fJnan¢ial sthtements as requitrd Under Section 44(IMc) of theAct attd to state Mth¢ther particularmatt¢rs have come to rny attention. Basis of Independent ExatniDer's Statement My examination is carried OLrt in accordance with Regulatlon 11 of the 2006 Accounts Regulations. An examination includ¢5 a review of the accoulltiug records kept by the charity alld a comparison of the fi[)CIal statements presented with those record& It $0 includes con5iderntion of any unusual iterns or dIlOsUre5 in the f)Cial ststements and seeks exp]anations from the Trustee5 concerning any such matters. procedures undertoken do not provide all the evidence that would be require in an alldi¢ and consequentty I do not express and audit opinion on the view Vell by the financial ststements. IDdepeDdent ExgrniDeT'S Statem¢nt cot]nection with exa]natiO not rnatter ljas come tny attention.. (a) which gives me r¢&50nabl¢ caus¢ to believe that in aDy Materi respect the requirements.. fo keep accounting records in accordance with Section 44(IXa) of the 2005 Act and Regulation 4 of the 2(X)6 Ac¢ounts Regulations. aDd to prepare fancial statements which accord with the accounting records and comply with Regulation 8 of the 20(hSAccounts Regulations have not been meL or (b) to which. in my opinioo attention should be drawn in order to amble a prop¢r understandiTrg of the financial s Ils ro be reachcd. liLTi¢ Lraig Chartered Ac£ountan Abercorn House. 79 Renfr¢w Ro4iL Paisley. PA3 4DA Date: li AQ6vgy 104 Page 7
The Ine0rporntiD ofGrdeners ofGlasgow StsteThent of Financial Aetivtties lor the ye4r ended 31 May 2024 UDre5trictrd Full Rtstricted 2024 2023 General Dt5igTh•ted Funds Totsl Totsl Notes Income from: Donations 3,285 49.513 3.285 55.(M)I 52,019 54,477 Invest]n¢nt Jncome i.(rf>I 3.887 Totsl Intome 52.VJ8 3087 58,286 106,496 EKp¢lldityre on: Investment rtw]ag¢tncnt¢05ts Charitsble activities {1689) 144.833) (2.689) 149.5431 (3.0601 138,6461 {5(M)I 14.210) Total Expenditsre 147J22) {5ty)) 14310} 152332) (41,706) Net Incotlltl(Expenditure) before gatlls and (losw) 011 Lijvestments 5,276 i.ioi {323} 6.054 64,789 Gains and losses on itLV¢Stmeut ass¢ts ReiSed gainslllosse51 Ullr¢alis¢d gaIn(lO$s} 10.521 114.169 10.521 116.459 6,258 11(10.569} io 1.805 Total gainsllo&w on inve5tfft¢nl 4&ts 124,690 1,805 485 126.980 194,3111 IDcomel(Eipendithrel moYem¢Dt itt J29J66 162 133.034 129,5221 Reconciliation of Fuod$ Total Futtds brought forward 1,495.842 37.S45 115,963 1.649.350 1,618,872 Totsl Fullds Carried forward 1ffj25J118 4(IAS1 J 16,125 1,782J84 1,649JSO The Notes on p•g¢s 10 to 21 form 80 inte ofth¢s¢ finan¢iaJ sthtth)¢t Page 8
The IlltorpDration ofG•rdeners olGl&sgow Bal•Dre Sbeet for the year ended 31 May 2024 2024 2023 Notr Fixed Asxts Tangible Assets 4.520 1.525.062 1.650239 1.651,9 1529J82 Cvrrent Assets StocL 219 Debtors 12 1.748 4.248 127.751 5.014 5,563 115,403 Cash held by Investtmt Mgnagers Cash at bank and ill hand 133,747 12&199 Liabilities Creditors.'amounts falliug due within one y& 13 {3,IN)2) 16.431) Net Current knets 130.745 119,768 Nel Assets 1.782J84 1,649JSII Tht Funds of the Cbarity unstri¢ Fund5 G¢tterni Funds J5 .625.808 40,451 I 16.125 1.495.842 37,545 115,963 Desiated Fun Restricted Fund5 15 16 Totst Charity Fu] 1,782384 1.649JSO The f2¢11 ststemellts were Wwved and authorised for ISS by the Tr on.......................... 2024 ond $i¢d on their bef by". Dtitoni I"ru$ie¢ te Lolle¢lori I ru$*t The Notr5 on 10 to 21 foTm an integraj part of the5c fllwiciai statrments Page 9
The Incorpora¢iDn of CardeDeT5 of Glasgow Note5 to the Financi41 Statements for the ye8r ended 31 May 2024 Accountlng policies Statutory Information IncorFM)ration of Gardeners of Gl&8gow is a Scottish registered Charity (No. SC(XMH606). The registered office address (and principal address) is Hamijton House, 70 Hamilton Drive. Glasgow. G12 8DR. 1.1 Aecountlng eonyention The fmallcial ststen)ents have been prepared in accordallce with the charity's Rules and By¢-Laws, the Charities and Tntstee Investment {Scotland) Act 2(M)5, the Charities Ac£ounrs (Scotland) Regulations 2(M)6 {as amended and"Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable to charities preparing thetr accounts in accordance with the Financiai Reporting Sthndard appli¢able in tbe UK alld Republic of Ireland (FRS 102}" (as amended for a¢counting perio(Ls conlllleDcing from l January 2019). The dwity ts a Public Benefit Entity a5 defin¢d by FRS 102. The fmancial statements are prepared it) sterlin& wbich is the functional currncy of the charity. Monetary amount% in the financial statelllellts are rounded to the DeaTrst £. Th¢ financial statements are wepared ullder the historical cost conventioll with iterns recognised at cost or transaclioD value unless otheTWi5¢ StAted ill the relevant Notes to these finallciAI statements. 1.2 Going Concern At the tÈme of approving the financial statements, the Tn have a re&8onable exICtatIon that the charity adcqllate resources to u)ntitiue iti operdtTrOD existeDce for the foreseeable fllt¢. Thus the Trustee5 continue to adopt the going concern basis of accounting in preparing the fiDancial statements. The TTUStees eollsider there are no material uDcertainties alxTrut the clwity's ability (o conttnue as a going con¢¢rn. 1.3 Fund accounting Fund$ are Clalfied as either restricted funds orunrestricted fimd% defilled &5 follows. Un restricted fimds are expendable at the discretion of the Tnjstees in fitrance of the objects of the charity. If parts of the unrestricted fvnds are eannarked at the discretion of the Tn]stees for a particular purpose, they are designated as a separaTr fund. This desigttation has an athninistrntive pUt]e only and does not legally restrict the Trustres. di]0 to apply the fijnd. Restricted funds a funds subject to spIfiC requÈrements as to their tLse wbicb may b¢ declared by the donor or with their authority or Creat through legal processe& but still witbin the wider obj¢cts of the charity. 1.4 Ineome All income is recogllised once the dtarity has entit]ement to the income. it is probable that the iDwme will be received and the arno1 of income TK¢ivabl¢ can be measure reliably. 1.5 DonatioDs Donations are recognised when the charity has evidence of entitlejnenl to the gift, receipt is probable and its amount ¢an be Measured reliably. Entitlement usually aTises imrnediate upon rlpE however, in the event that a donatioD is subject to conditiolls that require a level of r£rfornJan¢e before the charity is entitle to tbe fitnds, the Colne is deferred alld noirecogDised ttIl eitber those condition5 are fully m¢L or th¢ fulfilment of those conditions is wholly with the control of the cFwity aDd it 15 probable that those ndItiOnS will be fu]filled in the reporting period. Page 10
The lAheorpornlioTh of Gardeners of Glasgow Notes to the Fin#Deial Statements for the year eBded 31 May 2024 1.6 Other Trading Aetivities Incojne from other trading activities includts income earned from Ixith trading adivities to rdise fi]nds for the clwity and ineome from fisndr8ising events and is recognised when the charity has entitlement to the fimds, it is probable that these will be reCeivj and tbe amoullts eall be measure reliably. 1.7 IveStment Income Interest on funds held on deposit is included Mthen receivable and the arnount can be measur¢ reliably by the charity. this is nornialty UEK)n noiification of the interest paid or pa}'able by the baT]k. Dividends are recognised when the sharebolder's rtght to receive paynent is establithed. measure at the fair value re1vable. Generally this is upon notification by the investtllent advisor once the dividend has been djared. 1.8 EipeDditure Liabilities are recogoised as expenditure &8 soon LS there is a legal or constructive obligation committing the charity to that enditure, it ig Probable that settlemeni will be required and the amount of the obligation Can be measured or estimated r¢liably. Liabilities are measured on recognition at historical o)st alld then subsequentty m¢a5wed at the best e5tirnate of the amount required to settle the obligation at the reporting dare. The exception is that c£rtai financial illstrumenis MUA be adjusted to their present value" these include financial liabilitie5 where settlement is deferred for more than 12 months after the reEKJrting dat¢. All expenditur¢ is wwunt for on all ac¢Tuals basis. All exFenses including support costs and governance costs are allocated or apportioned to th¢ applicable expenditure headings. 1.9 lttvestment Management Costs Expenditure on raising fimds includes all expenditure incurred by a clwity to rnise fi]nd5 for its charitable PUTp0se5. It includes the tosts of all fundrdisxng activities and events iogether with those costs incurred in seeking donations, grants and legacits and investtllent Enanagernent C05ts. 1.10 Ch*ritsbk Activities Expenditure on charitsble activities includes all costs Incued by the charity in undertaking Activrtie5 that rther its charitable aims for the benefit of its beneficiaries, including those support Colts and ¢ostS relating to the governance of the charity aprortiolled to the ehariiAble activities. The costs of charitable artiviiies presented in the Ststelnent of Finan¢ial Activities includes the costs of tM)th direct service provision and the payments of granl awards if applicable. 1.11 GrAnt Expenditu Grdnts payablc are tuade to thrd parties in the further8 of the dwitable objects. The award of a an1 is recognised as a liability (Trnlywhen the criteriti for a con5trurtiv¢ obligation aTe mel payment is probable, t ean be Jneasure reliably a[ there are llot wllditions attathing to its payment that litnit recognition. In the case of am unconditional grant offer. this is a¢¢rned onc¢ the re¢ipient h&s been notified of the grdmt award. The nOtifiClon gives the recipient a reasonable expe£tation that they will receive the one-year or multi-year grdnl. GraLt awards that are subject to the recfftpient fulfilltng perfornallce condition% are only accruedwhen the r¢cipient has been notified of the grant and any mainillg unfulfilled condition attaching to that grant is outside of the wntrol of th¢ ¢harity. 1.12 Governance costs Govemance costs (which are iticluded &$ a compinent of support costs in accordance with SORP} eomprise au c4)sts involving the publi¢ xccountability of the ¢h2rity and its compliance with regulation and good prnctiee. These costs include those related to constitutional and statutory require]nents. external scrntiny (audit or independent examination), strategic managemenL and other legal and professional fees.
The In¢oTPOrntion of GardeDers of Glasgow Notes to the Finallcial Statements for the year eDded 31 M4y 2024 1.13 Irreeoverable VAT Irrecoverable VAT is charged against the expenditure heliDg for wbich it w&5 inwrr 1.14 Capital Expenditure Fixed assets (excluding investments) ar¢ ated at cost less accumulated deprecixtion. The costs of minor additions or those costing below £l,(KK) are not capitalised. 1.15 Mtdab and Ch8iDS etc Medals and Chains etc are included at cost. It ts the policy of the JncoryxTrration not to depreciate these assets a5 the Trusiees consider that their residual value d0¢5 Ilot fa]1 below the cost value included within the financial statements. 1.16 Fixed asset inV¢5tments tnvestments are a forni of basic financial instrument and are initial]y recognised at their transaction value and subs¢quently measured at their fair value &% at the ba]an sheet date using the closing quoted market va]ue. The Staternent of Financial Activitie5 includes the net gatns and losses l$ing on revaluation and disrA)sa]s throllghi)ut the year. Fair valu¢ is deemed to be mthei value. 1.17 Stoek Stock ffts valued at the lower of c051 and Teali5abl¢ vah. 1.18 Cash at ballk and in hand Cash at bank and cash in hand inckndes and short temi highly liquid investments which a short maturity of three months or less from the date of acquisition or opening of the dqx)sit or similar a¢¢ouni. 1.19 Fin8llcial illstruments The charity h&g elected to apply the provtsi¢)ns of Sedion I I 'Basic FiEWtcial Insmiments, and Section 12 '0ther Financial tnstruments l&sues' of FRS L02 to all of its fmancial instrutnents. Financial instwments are recognised in the charity's balallce shed when the cl)arity becomes party io the contractual provisiolls of the instsumenL Fitiancial assets and liabilities are offsel with the net atnout)ts presented iti the financial statements, when there is a legally enforceable right to set off the reco8Dis atnounts and there 15 an ititention to settle on a net basis or to reali5e the &¥set attd settle the liability simuhaneously. B&sic]7n&Me1ala£ts Basic faCIal assets. which include debtors and c&sh and bank balance5, are initially measured at trdnsaction price iticluding transaction ¢05ts and are subsequently Carri at amortised cost using the effective interest method unless the &rrAngement constitutes a financing tran5actton, 'here the transaction 15 reassured at the present vaiue of the future receipts dis¢owJted at a market rate of interest. Financial &%sets classified as receivable within one year are not amorti5 P88e12
Tbe 1corporatIOn of GardeneTS of Glasgow Notes to th¢ Fin*nci81 Statements for ihe year ended 31 Msy 2024 J.1.19 Fitt¥Jttial instruments Icontd) Bfislt fingntjAI liabilities Basic fittanctal ]iabilitie& incllldtThg creditor$ 8thd bank loa are iDitia]ly r#olS¢d at tran5ac£ion price unltS5 the arrnJg¢meDt constitutes a fir181 tranStIo]L where the debt instrumeln is 8t the present value of the fubjre discoun at of iDteresL Fin8nciaJ liwbiliti¢5 classified payable withill oneyearare noi amortised Debt in5tnun¢nts are subwu¢ntJy Carri at au10 C using the effectivc interest rate method. Trade ereditors are obliged to pay for gr#ts orservi¢es thathave been aquired in the ordtnary course of opetttions frottj Supplie Amounts payable cl&ssthed &% current liabilities if pa)rynent is due thin on¢ year or l¢¥. If llOL they are prescDted &% Don-curreoi lizbilitie& TTwJe creditors are recoEDxsed initially at trdnsaction price and gJbsequcThtly MeIe atsKTrsed c05t usinglkn effve srtterest rtthod. Dtrecognition of fi1¢111 liabiliti Financial liabilities are derec0)1sed the charity's ¢trtUal obligation5 Lyire or8r¢ diwharg¢d or canc¢lle DoN#tions 2024 2023 Legacy from Ex Deacon Stnail's Estate Horti¢ultural ContnbutiorLS (Donattons) 50,000 2,019 3285 3385 52,019 Investment llleome 2024 2023 Dividends and interest received on Gifts 55,001 54,477 55,001 54,477 tnvestThent Management Costs 2024 2023 Investment Advisers, Fees 2.689 3,060 2.689 3,060 Pw13
Th¢ IneoryorntioD ofGrdentrs of GlasgtsTV Notes to the fin#nfi81 Ststemtnts for tbe ye8r ¢nd¢d 31 .May 2024 Costs of rharitsblc kdivities 2024 2023 Grant4 gifts pri and oth¢r awwdsiN¢)t¢6) Running LM)sts Wrbsite costs Trades House ofGlww TneX Tndes House. Share of Sccia] Workevs Sakny Bwkk¢eping ServiS. ld to Soli¢it(K5 19.674 113( 535 10,651 7.396 1.528 2.936 710 3.156 820 2.4(H) 1134 Governgni%costs: PTof¢55ioNal S¢DI(rs 5.5(M) 1.8(K) 12(M) 1.826 1200 Exvmits F¢¢ Tothl ExpeDditure 49J 38,646 Grants aDd gifts 2024 2023 Analysis a8 follows: IndividMAIs Grants 4210 4210 hÉrgrnnts éndtNtwd5.' Craftex 2.5ts) 720 International Ros¢ Trials TTth House SdKK>l corltIOn Glasgow Allotment Fonun Aw8rds DaTniey Prim Sch(K)I KdvilldaJ¢GaTd 130 Friends of GRI Friends of Ashton 346 Tew Trust 3.403 GAF 130 B¢atbon c.wttr Charity 2.685 5(K) T7IL Ch11drtn'8 ll'ood l5.464 751 19h74 10ffj51 The gTants paid to i]Jdividua]s totsUin8 £4.210 (&sabov¢l wmryiseof8tantsof £4.150 da lunch grant of £60. An analysis of paid and rAyabk is wvitsl iDNo* 18. P¥14
The Incorporation of Gardener5 of Gl•sgo Notes to Ihe Financial Statements for the year ended 31 May 2024 Ind¢peDdeDt Etsmkntr's Remuneratlo 2024 2023 Accoujktancy Independent Examinatio 1.81X) 12(M) 1.826 1.2(Kl 3,026 8 Net Incomel(expeDditsre} for the year 2024 2023 Net IDcomel(expenditure) is ststed after (kngl Independent Examinerfs Fee 1.2 1.200 P¥15
The IncorportioTr of Gardellers ofGla5gow Notes to the FinaDeial Ststrments for the year ended 31 May 2024 TAn&bIe fiied assets Medals & Tot1 Chains etL Cost At 31 May 2023 4.520 4,520 At 31 May 2024 Net book Values At 31 May 2023 4.520 4.520 At 31 May 2024 1,4(K) Th¢ llKdai$ and ChaiJJ$ rf¢ wrise th¢ following: Latc Deacon's Medal 7(K) Meda] 7(M) 1.4(KJ The tate Dexoll Medal1&8 above) has b¢¢n lo in PdeceSS0r in offJceA &$ his reqtKst from Scptanber 2015. The charity holds a number of other it¢ms {medaJs silver sver5 dc) whith donatrd over DMThy years. Th¢ origitiai cost of these items is not recognised atrf)ve. 10 Fixed 9&8et investments Total Totsl 2024 2023 Fair vxlue {market v$lv¢) At 31 May 2023 Addition5 I.525.2 270.504 (272.306} 26.980 1.597.307 124.761 (96.43n 11(K).569) Disposals Revaluations At 31 May 2024 1,6XIJ40 J J25,062 HiBtoric Cost At 31 May 2024 .337.822 .358.185 P4e 16
The Ineorporatiott of Grdeners of Glasgow Notes to the Financil Ststements for the year ended 31 Ma)" 2024 11 An8ly5is of investtllettts 2024 2023 Investments in the U.K. 1.650239 1.525,062 1,6SO.239 lJ25,062 Material investmeTh¢ holdings 2024 2023 The following holthngs represent Anore than 5 % of the value of the chariWs total investments: 4.1250/0 Treasury Stock 2030 85.480 83.677 12 Debtorg 2024 2023 Prepayments and accrued income 1.748 5.014 1.748 5.014 13 Credltors: amounts falling due within one year 2024 2023 A£¢nlS 3,002 6,431 3,002 6,431 Pa8e 17
The Incorvati ofGardellers ofGI•ow Nott5 to tbr FiDallcial SrttTht•ts for thtyur ded31 M•y 21n4 14 ofNet A•Jetsbe¢wewJ l•lld• F•Nds Fundban£S 31 Mry2024 &%ry¢xrrt¢dty. T2tt8ibl¢ fixwj I JW.949 42,751 [3.2) 33205 7.745 J7.085 83251 i.W239 133.747 I4) Current li4biliie4 At31 Y1014 12OJ36 1,7W84 Total Fll Fud 31 May 2023 05 Tan81biefiX¢dats 520 l)71 J54 126.199 {6.431) 37545 115.963 152S062 J2&199 IA431) Cvrr¢nt b8bilit5 At31y2 14YY12 37J45 IiS963 1.049J IS Ullrutrirtedfutt Eipedhrtl TT¥JyIErn iJrtt 31 M•y'24 ernl N¥Ddy Gttral Purywe Rewve F cyt Fulld 52.Tr1 {47,522} (B7) 211.£rfM 124ts89 lJ67.956 1.495.843 147.$221 Ih2S808 Reserve FtllKI Cltl 144 7J45 33.2 151 31.401 37.545 I.5 1.805 I,fd)i 15(X)) IWJJ88 S4J99 14W21 IW94 1.6f4259 xprAdiEllr l JberyZ Tf•br JI MAY'I) Gower•l 68.078 1.453J69 1523.447 141.7f 117.587 JO67956 1,49S843 CaptsiFuDd 141,7Q6} Dut¢d Fuod5 Rexrv¢ Fyud Ckpithl F lJ74 6,144 31.40t 37,M5 33.167 37.rJ7 1.574 {1.?) iJ61.184 14aWiI 189.1791 IJ33J88
The IDtoryortioD ofG¥TdeDers of GlsgoTV T4otes to the Financial Stateth¢uts for th¢ year ¢Dded 31 May 2024 I& UDrestrl¢ted fvDds l¢ontiniedl PurpDye of Gtnernl Fllnds GeNerOIrPOseR¢StThy C&pltolF#nd The capit Fd represents the markel vah ofillvtstrllets by AnyKauksorl(w lsU)8 the i]Jvesttn¢nts Purpose of De5igDaled Funds TreAKdrew. CoJtntMLVillon Sctholorship Fmnd The Anthw, Count Mcmillall S¢hoisknp FuDd represents fitykd5 desiwed bythe Ttust¢¢5 Thards tyjucational award. The Fund w&$ estsblished irt nKmory of the late Anthew. Cowjt whOfted a £30.(th legAcy in his to the tharity l& Rtstrictrd Fulld5 EIptllditprtJ IllvethHeDt Transfers J Jwlle'll 31 M¥y'24 Old Meokn. Fund 115.963 3.887 14.2101 485 115.963 14210 116.125 kncollKI EIptndit•rtJ Investmetyt TrAn5fers TrnDsfers 31 MAY'23 Old mellthe, Fuud 117.688 3.407 15,l321 115,963 117,68B 3,407 15,1321 115.963 Purpos¢ of Rtstricted FuDd$ Old Membets, The Old Membets, Fd represents the FuDds are at the dig)osai ofthe Detsn for distnThuknoll fnojth tyrelatives of Members b¢ing in ntt41 by T¢&SQll of agq ai heal disabibty. &]8[ hardship o[0th dis*Ilf38e. 17. Trtystees. R¢rnuDeratioD 2nd expenst5 Py19
Th¢ ImeorpDratioD of Gardeners of G]#sgo Noles to the FI•£21 Stst¢m¥ts for tht year eDded 31 MAY 2024 l& Allatysig ofGrAnts PAyble 01.0623 Pid ill Pxyable 31.05.24 ytsr 2024 2023 4.210 4.210 Othergrants: Craftex 2,500 720 Jnr¢rnatiotI Ros¢ Tria]5 Trad&s Hous¢. fjLgsgow fj18sgow Allottn¢DI Forutll Aw DanJl¢y Prillw Sthwl Frietth of GRI 500 130 901 Friends of Ashton 346 346 Teapot Ttwt Sthdy CQr¢Lmty DEv¢lopma 3.403 3.403 2.0(M) 130 130 BeatsLTrn C'ancer Lhat]I 2,685 5(X) 5(Kl ThL I'hildren'.$ 11."Ix)d 3,000 Kelv81¢ Gard$ {2.tix)) 2.(K)O 17,464 15.464 6,751 12JMKII 21.674 19,674 10,651 Nole 6 Noie 6 19. R¢knt¢d P¥ry Trallsact$ 20. FIMneial InstThNeDts 2024 2011 Carrying 8rnOllDtorrinincil FIncIal Acllviues ),650,239 ,525,062
The JTrtoryortion of Grd¢a¢rs Of Glsgo Notss to the FinneI SttemtDts for tbt ytr ended 31 MAY 2024 21. St4t¢mtllt of FiDnciaJ Adivitsesfor tht yereDdtd 31 May 2011 2023 Fund Total IDcome froJtt- 52,019 49,496 $2.019 $4.477 1.574 Tothl Income 1374 I,496 Expenditure DD.. (3,0601 138.646) 13,0601 138,6461 ChaTitsble a¢EiVititt% Total E3p¢•dil¥r¢ {41.7061 141.7061 ItttomeJffxptndStDrel brfort I#1¥ and Ikwsl ott illYestmeDts 59 lJ74 3,407 RJiSed ga(10s5¢5) UnfeIsed gall{]0&5) 6,258 (93.6711 6258 io {1.7661 15.132) 187.413) 11.766) 194Jll Net In¢ before tra]tsfers (27,6041 11921 11.7251 129522) Rteollcili&tN)n of FUd8 Tothl brought fOr%d 1.523,447 37,737 117,688 1ffj7&872 Totsl FllDds Crritd forw*rd 1.495W3 37545 115,963 1,649J50 Pa8e 21