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← Incorporation Of Gardeners Of Glasgow

2025-05-31-accounts

THE INCORPORATION OF GARDENERS OF GLASGOW

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REPORT

and

SUMMARISED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31°! MAY 2025

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The Incorporation of Gardeners of Glasgow

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|||||||| |---|---|---|---|---|---|---| |Contents|Page| |Charity|Information|1-2| |Trustees’|Annual|Report|3-5| |Independent|Examiner's|Report|6| |Statement|of|Financial|Activities|7| |Balance|Sheet|8| |Notes|to|the Financial|Statements|9|-|20|

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The Incorporation of Gardeners of Glasgow

Trustees' Annual Report for the year ended 31 May 2025

Charity Name:

The Incorporation of Gardeners of Glasgow

Charity Registration Number: SC004606 Trustees: Stephen Docherty Deacon Fraser Wallace Collector Janet Pierotti Late Deacon Paul Carnan Ex Deacon Lorne H.M Scott Ex Deacon Fiona Baxter Andrew W O Dickson Commander Nicholas T. Parry Frances Scott Tarig Ali Gaudie Honorary Life Masters: His Majesty King Charles IT] Kenneth E. Sandford, C.A. J. Michael Low John B. Park

Trades House Representatives Deacon Docherty, Collector Wallace, Late Deacon Pierotti, Ex-Deacon Cdr. Parry

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Clerk David Syme

Principal Office: Hamilton House 70 Hamilton Drive Glasgow G12 8DR

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The Incorporation of Gardeners of Glasgow

Trustees' Annual Report for the year ended 31 May 2025

Independent Examiner:

Paul Craig

Azets Audit Services Titanium 1 Kings Inch Place Glasgow PA4 8WF

Investment Advisers: Brewin Dolphin Level 8 Cadworks 41 West Campbell Street Glasgow G2 6SE

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The Incorporation of Gardeners of Glasgow

Trustees’ Annual Report for the year ended 31 May 2025

The Trustees present their report and the financial statements of the charity for the year ended 31 May 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note to the financial statements and comply with the charity’s Rules and Bye-Laws, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “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)” (as amended for accounting periods commencing from 1 January 2019).

OBJECTIVES AND ACTIVITIES

Since the abolition of certain exclusive trading privileges within the Burgh of Glasgow in 1846, the objects of the Incorporation have assumed an entirely benevolent character. These are primarily the support of indigent Members and the widows, orphans and children of Members. The Incorporation also pursues educational projects connected with horticulture. In addition, under the heading of the “Let Glasgow Flourish” presentation, the Incorporation encourages, by way of awards, horticulture and gardening displays by commercial bodies within the City of Glasgow.

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ACHIEVEMENTS AND PERFORMANCE Over the past year, the collaboration between the 14 Trades that make up the Incorporations at Trades House has been inspirational. The Incorporation of Gardeners has also been working with other related charities such as Glasgow Tree Lovers Society and the National Trust for Scotland. This, I think, gives us more relevance in terms of what we are trying to achieve in the 21st century.

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The Incorporation of Gardeners of Glasgow

Trustees' Annual Report for the year ended 31 May 2025

ACHIEVEMENTS AND PERFORMANCE (cont’d) We continue to provide funding to support a number of individuals taking horticulture courses or attending conferences. It is particularly encouraging to be able to make a real difference to the lives of those we support, giving them opportunities to advance in the horticultural world and helping open doors that may otherwise have remained closed. We are also in discussion with a former assistant principal of Langside College (now Clyde College) to create a new award for horticultural students at Clyde College.

The 2024 Let Glasgow Flourish Awards were presented in February this year and were a great success. The Incorporation of Gardeners organisers & judges, headed by Ex-Deacon Lorne Scott, did a great job in identifying so many good entries.

FINANCIAL REVIEW

Results for the year

Per the Statement of Financial Activities on Page 7, the Incorporation reported Net expenditure (i.e. a deficit) of £51,954 (2024 Surplus - £133,034) after unrealised losses of £72,262 and realised gains of £26,274. At 31 May 2025, the Incorporation had total funds of £1,730,430, of which £nil related to Restricted Funds whilst £1,642,457 (95%) were held in Investments.

Reserves policy

The policy of the Trustees is to hold a level of investments in order to generate a return sufficient to meet the Incorporation’s annual staff, running and governance costs.

There is also an Old Members’ Fund which was originally constituted many years ago by a legacy from a late Member. The income is at the disposal of the Deacon for the distribution amongst friends and relatives of Members being in need by reason of age, ill health, disability, financial hardship or other disadvantage. Approval was obtained from OSCR in the year to remove the restriction on use and transfer the balance in this fund to general funds, and that transfer was completed in the year.

Risk management

The Trustees have identified and considered the major strategic, financial and operation risks to which the charity is exposed and have established systems to enable those risks to be mitigated.

Grant Making policy Grants are awarded at the discretion of the Trustees in accordance with the objectives of the charity.

Investment policy

The Trustees have the power to invest in terms of Rule 30. In both the Equity and Fixed Interest portfolios of the General Fund and also in the Old Members? Fund, the investment objective is to maintain a balance between Capital Growth and Income with an emphasis on maintaining or enhancing the current income levels. The Trustees engage the services of Brewin Dolphin who advised the Incorporation on their investments from November 2024, having replaced previous advisors Evelyn Partners following a competitive tender process.

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Trustees’ Annual Report for the year ended 31 May 2025

The Incorporation of Gardeners of Glasgow

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document About the year 1605, on an application from a number of practical gardeners, the original Charter of the Incorporation was granted by the Lord Provost, Magistrates and Council of the Roya! Burgh of Glasgow, conferring rights and privileges similar to those granted to other Incorporations. This Charter was lost in 1646, and a new Charter was not obtained until 1690. The present Rules and Bye-Laws were adopted at various meetings of the Incorporation commencing on 24 June 1902. The Incorporation is a recognised Scottish charity, No. SC004606.

Trustees The Trustees serving during the year and since the year end are detailed on page 1.

Appointment of Trustees Each year the Deacon is entitled to appoint a Trustee (the Deacon’s Master) in terms of the Rules and ByeLaws. Such Master is eligible for subsequent election by the Incorporation, again in terms of the Rules and Bye-Laws. The appointment of other Trustees is through election by the Incorporation as aforesaid New Trustees undergo instruction to brief them of their legal obligations under charity law.

Organisational structure The affairs of the Incorporation are managed by the Trustees with duties being delegated to the Clerk. The Trustees meet quarterly.

| Trustees meet quarterly. | | Key Management Personnel | Given their involvement as described above, the Trustees consider themselves as the charity’s key management : personnel, in charge of directing and controlling the charity and overseeing its daily activities. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustees’ expenses and related party transactions are disclosed in Notes 17 and 19. 1 SePTENARL This Report was approved by the Trustees on 2025 and signed on their behalf by:

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Stephen Docherty »
Deacon/Trustee
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The Incorporation of Gardeners of Glasgow

Independent Examiner’s Report to the Trustees of The Incorporation of Gardeners of Glasgow I report on the financial statements of The Incorporation of Gardeners of Glasgow for the year ended 31 May 2025 which are set out on pages 7 to 20.

Respective responsibilities of Trustees and Examiner

The charity’s Trustees 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 (as amended). The charity’s Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts regulations does not apply. It is my responsibility to examine the financial statements as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of Independent Examiner’s Statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be require in an audit, and consequently I do not express and audit opinion on the view given by the financial statements.

Independent Examiner’s Statement

In connection with my examination, not matter has come to my attention:

have not been met, or

(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

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The Incorporation of Gardeners of Glasgow

Statement of Financial Activities

for the year ended 31 May 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Funds|Restricted|2025|2024| |General|Designated|Funds|Total|Total| |£|£|£|£|£| |Notes| |Income|from:| |Donations|2|2,695|-|-|2,695|3,285| |Investment Income|3|45,465|824|-|46,289|§5,001| |Total Income|48,160|824|-|48,984|58,286| |Expenditure|on:| |Investment management|costs|4|(4,713)|-|-|(4,713)|(2,689)| |Charitable|activities|5|(50,237)|-|-|(50,237)|(49,543)| |Total Expenditure|(54,950)|-|-|(54,950)|(52,232)| |Net|Income/(Expenditure)| |before|gains|and|(losses)|(6,790)|824|-|(5,966)|6,054| |on|investments| |Gains|and|losses|on|investment|assets| |Realised gains/(losses)|25,225|1,049|26,274|10,521| |Unrealised gains/(losses)|10|(72,262)|-|(72,262)|116,459| |Total|gains/losses on investment|assets|(47,037)|1,049|(45,988)|126,980| |Transfers|116,125|-|(116,125)|-|-| |Net Income/(Expenditure)|movement|in funds|62,298|1,873|(116,125)|(51,954)|133,034| |Reconciliation|of|Funds| |Total Funds|brought forward|1,625,808|40,451|116,125|1,782,384|1,649,350| |Total Funds|Carried|forward|1,688,106|42,324|-|1,730,430|1,782,384|

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The Notes on pages 9 to 20 form an integral part of these financial statements

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The Incorporation of Gardeners of Glasgow

Balance Sheet for the year ended 31 May 2025

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|||||| |---|---|---|---|---| |2025|2024| |£|£|£|£| |Notes| |Fixed|Assets| |Tangible|Assets|9|1,400|1,400| |Investments|10|1,642,457|1,650,239| |1,643,857|1,651,639| |Current|Assets| |Debtors|12|3,451|1,748| |Cash held by Investment Managers|19,425|4,248| |Cash|at bank and|in hand|66,849|127,751| |89,725|133,747| |Liabilities| |Creditors:amounts|falling| |due within one year|13|(3,152)|(3,002)| |Net Current Assets|86,573|130,745| |Net Assets|1,730,430|1,782,384| |The|Funds|of the|Charity| |Unrestricted|Funds| |General|Funds|15|1,688,106|1,625,808| |Designated Funds|15|42,324|40,451| |Restricted Funds|16|-|116,125| |Total|Charity Funds|1,730,430|1,782,384|

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The financial statements were approved and authorised for issue by the Trustees on Ly SEPTMBRL, 9, 5 and signed on their behalf by:

Stephen Docherty Deacon/Trustee

oan Fraser Wallace Collector/Trustee

The Notes on pages 9 to 20 form an integral part of these financial statements

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Restricted funds are funds subject to specific requirements as to their use which may be declared by the : donor or with their authority or created through legal processes, but still within the wider objects of the | charity. ' 1.4 Income : All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measure reliably. 1.5 Donations : Donations are recognised when the charity has evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Entitlement usually arises immediate upon receipt, however, in the event : that a donation is subject to conditions that require a level ofperformance before the charity is entitle to the / funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment : of those conditions is wholly with the control of the charity and it is probable that those conditions will be : fulfilled in the reporting period.

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements for the year ended 31 May 2025

1. Accounting policies Statutory Information Incorporation of Gardeners of Glasgow is a Scottish registered Charity (No. SC004606). The registered office address (and principal address) is Hamilton House, 70 Hamilton Drive, Glasgow, G12 8DR.

1.1. Accounting convention The financial statements have been prepared in accordance with the charity’s Rules and Bye-Laws, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended and “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)” (as amended for accounting periods commencing from | January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in the financial statements are rounded to the nearest £.

| Thetransactionfinancialvaluestatementsunless otherwiseare preparedstatedunderin thethe relevanthistorical Notescost toconventionthese financialwith itemsstatements.recognised at cost or

Un restricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees’ discretion to apply the fund.

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements

for the year ended 31 May 2025

Income from other trading activities includes income earned from both trading activities to raise funds for the charity and income from fundraising events and is recognised when the charity has entitlement to the funds, it is probable that these will be received and the amounts can be measure reliably.

Dividends are recognised when the shareholder’s right to receive payment is established, measure at the fair value receivable. Generally this is upon notification by the investment advisor once the dividend has been declared.

1.8 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 settlement will be required and the amount of the obligation can be measured or estimated reliably.

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Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. The exception is that certain financial instruments must be adjusted to their present value; these include financial liabilities where settlement is deferred for more than 12 months after the reporting date.

All expenditure is account for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

1.9 Investment Management Costs Expenditure on raising funds includes all expenditure incurred by a charity to raise funds for its charitable purposes, It includes the costs of all fundraising activities and events together with those costs incurred in seeking donations, grants and legacies and investment management costs.

Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to the charitable activities. The costs of charitable activities presented in the Statement of Financial Activities includes the costs of both direct service provision and the payments of grant awards if applicable.

1.11 Grant Expenditure Grantsis payable are made to third parties in the furtherance of the charitable objects. The award of a grant recognised as a liability only when the criteria for a constructive obligation are met, payment is probable, it can be measure reliably and there are not conditions attaching to its payment that limit recognition.

In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.

1.12 Governance costs Governancecomprise costs (which are included as a component of support costs in accordance with SORP) all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include those related to constitutional and statutory requirements, external scrutiny (audit or independent examination), strategic management, and other legal and professional fees.

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements for the year ended 31 May 2025

1.17 Stock Stock is valued at the lower of cost and net realisable value.

1.18 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments which a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, settle on a net basis or to realise the asset and settle the liability simultaneously. when there is a legally enforceable right to set offthe recognised amounts and there is an intention to

Basicfinancial 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 constitutes a financing transaction, where the transaction is reassured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements

for the year ended 31 May 2025

1.1.19 Financial instruments (contd)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial 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 obliged 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 non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measure at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled,

2. Donations 2025 2024
£ £
Horticultural Contributions/Donations 2,310 3,285
Membership fees 385 -
2,695 3,285
3. InvestmentIncome 2025 2024
£ £
Dividends and interest received 46,289 55,001
46,289 55,001
4, InvestmentManagement Costs 2025 2024
£ £
Investment Advisers’ Fees 4,713 2,689
4,713 2,689

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements for the year ended 31 May 2025

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8. Costs of charitable activities 2025 2024
£ £
Grants, gifts prizes and other awards (Note 6) 27,560 19,674
Running costs 6,244 12,304
Website costs 7106 555
Trades House of Glasgow Trust expenses 3,314 3,156
Trades House - Share of Social Worker's Salary 770 820
Bookkeeping services ~ paid to Solicitors - 2,400
Secretarial Services - 2,134
Governance costs:
Professional Services 8,343 5,500
Accountancy & Independent 2,000 1,800
Examiner's Fee 1,300 1,200
Total Expenditure 50,237 49,543
6. Grants and gifts 2025 2024
£ £ £ £
Analysis as follows:
Individuals
Grants 5,264 4,210
5,264 4,210
Other grants and awards:
New Victoria Garden 3,500 -
Friends of Elder Park 2,880 -
Clyde College 2,706 -
Trades House 2,238 -
FARE Scotland Ltd 2,000 -
St Paul's Youth Forum 1,994 -
Craftex 1,500 -
| Springburn Gardens 1,043 -
| Anderston Green Spaces 1,000 -
| Gametbank PS 932 -
Pear Tree Project 525 -
The Vestry of St Ninians 520 -
| Trades House Apprentice Awards 500 -
: Trades House School Awards 500 -
Friends of Maryhill 260 -
GAF 198 130
Craftex - 3,000
Friends of GRI - 400
Friends of Ashton - 346
Teapot Trust - 3,403
SiMY Community Development - 2,000
Beatson Cancer Charity - 2,685
Derrin McGowan - 500
The Children's Wood - 3,000
22,296 15,464
27,560 19,674
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The individual grants comprise a mix of welfare grants and study support grants. An analysis of grants paid and payable is provided in Note 18.

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements

for the year ended 31 May 2025

7. IndependentExaminer's Remuneration 2025 2024
£ £
Accountancy 2,000 1,800
Independent Examination 1,300 1,200
3,300 3,000
8 Net Income/(expenditure) forthe year 2025 2024
£ £
NetIncome/(expenditure) is stated after charging:
IndependentExaminer'sFee 1,300 1,200

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements

for the year ended 31 May 2025

9 Tangible fixed assets

Tangible fixed assets Medals & Total
Chains ete.
£ £
Cost
At 31 May2024 1,400 1,400
At31 May2025 1,400 1,400
Net bookValues
At31 May2024 1,400 1,400
At31 May2025 1,400 1,400
Themedals and Chains etc comprise the following:
£
Late Deacon's Medal 700
Medal 700
1,400

The Late Deacon Medal (as above) has been loaned to Hugh Hopkins, Ex Deacon (Late Deacon's predecessor in office), as his request from September 2015.

The charity holds a number of other items (medals, silver salvers etc) which were donated over many years. The original cost of these items is not recognised above.

10 Fixed asset investments Total Total
2025 2024
Fair value (market value)
At 31 May2024 1,650,239 1,525,062
Additions 1,616,296 270,503
Disposals (1,578,090) (272,306)
Revaluations (45,988) 126,980
At31May2025 1,642,457 1,650,239
HistoricCost
At31May2025		 1,657,381 1,337,822

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements
for theyear ended 31 May 2025
11 Analysis ofinvestments 2025 2024
£ £
Investments in theU.K. 1,642,457 1,650,239
1,642,457 1,650,239
Material investmentholdings 2025 2024
£ £
The following holdings represent morethan5% ofthe value ofthe
charity's total investments:
SSGA SpdrETFS 138,673
Fidelity units 89,894
Vanguard funds 92,691
4,125%Treasury Stock2030 85,480
12 Debtors 2025 2024
£ £
Prepayments and accrued income 3,451 1,748
3451 «TAB
13 Creditors: amounts fallingdue 2025 2024
within oneyear £ £
Accruals 3,152 3,002
3,152 3,002

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements

for the year ended 31 May 2025

14 Analysis of Net Assets between funds

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14 Analysis of Net AssetsNet AssetsAssets between funds
Unrestricted Funds Restricted Total
General Designated Funds Funds
£ £ £ £
Fund balances at 31 May 2025 as represented by:
Tangible fixedassets 1,400 - - 1,400
Investment assets 1,642,457 - - 1,642,457
Current assets 47,401 42,324 - 89,725
Current liabilities (3,152) - ~ (3,152)
At31 May2025 1,688,106 42,324 - 1,730,430
Unrestricted Funds Restricted Total
General Designated Funds Funds
£ £ £ £
Fund balances at 31 May2024 asrepresented by:
Tangiblefixed assets 1,400 - ” 1,400
Investment assets 1,579,949 33,205 37,085 1,650,239
Current assets 47,461 7,246 79,040 133,747
Current liabilities (3,002) - - (3,002)
At31May2024 1,625,808 40,451 116,125 1,782,384
15 Unrestricted funds
Income/ Expenditure/ Investment
1June '24 Transfers Transfers Gains/(Losses) Transfers 31 May '25
£ £ £ £ £ £
General Funds
GeneralPurposeReserveFund 45,858 48,160 (54,950) - 6,581 45,649
CapitalFund 1,579,950 - - (47,037) 109,544 1,642,457
1,625,808 48,160 (54,950) (47,037) 116,125 1,688,106
Designated Funds
TheAndrew, CountMcMillan Scholarship
ReserveFund 7,245 824 - - 8,069
CapitalFund 33,206 - - 1,049 - 34,255
40,451 824 - 1,049 - 42,324
1,666,259 48,984 (54,950) (45,988) 116,125 1,730,430
1 June '23 Income/
Transfers		 Expenditure/
Transfers		 Investment
Gains/(Losses)		 31 May '24
£ £ £ £ £
General Funds
General Purpose ReserveFund 127,887 52,798 (47,522) (87,305) 45,858
CapitalFund 1,367,956 - - 211,994 1,579,950
1,495,843 52,798 (47,522) 124,689 1,625,808
DesignatedFunds
TheAndrew, CountMcMillanScholarship
ReserveFund
Capital Fund		 6,144
31,401		 1,601
-		 (500)
-		 -
1,805		 7,245
33,206
37,545 1,601 (500) 1,805 40,451
1,533,388 54,399 (48,022) 126,494 1,666,259

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements for the year ended 31 May 2025

15. Unrestricted funds (continued)

Purpose of General Funds

General Purpose Reserve Fund

The General Purpose Reserve Fund represents the unrestricted (non-capital) funds of the charity which the Master Court are free to use in furtherance of the Incorporation's charitable activities.

Capital Fund

The Capital Fund represents the market value of investments held by the fund. Any gains or losses arising on the investments form part of this Fund. Investment income is allocated to the General Purpose Reserve Fund.

Purpose of Designated Funds

The Andrew, Count McMillan Scholarship Fund

The Andrew, Count McMillan Scholarship Fund represents funds designated by the Trustees towards and educational award. The Fund was established in memory of the late Andrew, Count McMillan who gifted a £30,000 legacy in his will to the charity.

16. Restricted Funds

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Investment
1 June '24 Income Expenditure Losses Transfers 31 May '25
£ £ £ £ £ £
Old Members' Fund 116,125 - - - (116,125) -
116,125 - - - (116,125) -
Income/ Expenditure/. Investment
1 June '23 Transfers Transfers Losses 31 May '24
£ £ £ £ £
Old Members’ Fund 115,963 3,887 (4,210) 485 116,125
115,963 3,887 (4,210) 485 116,125
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Purpose of Restricted Funds

Old Members! Fund The Old Members’ Fund represents the Funds which are at the disposal of the Deacon for distribution amongst friends or relatives of Members being in need by reason of age, ill health, disability, financial hardship or other disadvantage,

Approval was obtained from OSCR in the year to remove the restriction on use and transfer the balance in this fund to general funds, and this transfer was completed in the year.

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements Notes to the Financial Statements
for the year ended 31 May 2025
18. Analysis ofGrants
Payable Paid in Payable
01.06.24 year 31.05.25 2025 2024
£ £ £ £ £
Individuals:
Grants 5,264 5,264 4,210
Other grants:
New Victoria Garden 3,500 3,500 -
Trades House 2,238 2,238 -
Friends ofElder Park 2,880 2,880 -
ClydeCollege 2,706 2,706 -
FARE Scotland Ltd 2,000 2,000 -
St Paul's Youth Forum 1,994 1,994 -
Craftex 1,500 1,500 3,000
Springburn Gardens 1,043 1,043 -
AnderstonGreen Spaces 1,000 1,000 -
GametbankPS 932 932 -
Pear Tree Project 525 525 -
TheVestry ofStNinians 520 $20 -
Trades HouseApprenticeAwards 500 500 -
TradesHouseSchoolAwards
Friends ofMaryhill		 500
260		 500
260		 -
-
GAF 198 198 130
Friends ofGRI - - 400
Friends ofAshton - - 346
TeapotTrust - - 3,403
SiMYCommunity Development - - 2,000
Beatson CancerCharity - - 2,685
DerrinMcGowan - - 500
The Children's Wood - - 3,000
- 22,296 - 22,296 15,464
- 27,560 - 27,560 —~:19,674
Note6 Note6

19. Related Pary Transactions

There were no related party transactions in the reporting year requiring disclosure. 20. Financial Instruments

Financial InstrumentsInstruments
Financial InstrumentsInstruments 2025 2024
Carryingamount offinancial assets £ £
Instruments measured at fairvaluethrough Statement of
FinancialActivities 1,642,457 1,650,239

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The Incorporation of Gardeners of Glasgow

Notes to the Financial Statements for the year ended 31 May 2025

21. Statement of Financial Activities for the year ended 31 May 2024

==> picture [408 x 466] intentionally omitted <==

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||||||||| |---|---|---|---|---|---|---|---| |Restricted|2024| |General|Designated|Funds|Total| |£|£|£|£| |Notes| |Income|from:| |Donations|2|3,285|-|-|3,285| |Investment income|4|49,513|1,601|3,887|55,001| |Total|Income|52,798|1,601|3,887|58,286| |Expenditure|on:| |Investment|management|costs|5|(2,689)|-|-|(2,689)| |Charitable|activities|6|(44,833)|(500)|(4,210)|(49,543)| |Total Expenditure|(47,522)|(500)|(4,210)|(52,232)| |Net|Income/(Expenditure)| |before gains and|(losses)|§,276|1,101|(323)|6,054| |on|investments| |Gains|and|losses|on|investment|assets| |Realised|gains/(losses)|10,521|-|-|10,521| |Unrealised|gains/(losses)|10|114,169|1,805|485|116,459| |Total|gains/losses|on|investment|assets|124,690|1,805|126,980| |Net Income|before|transfers|129,966|2,906|162|133,034| |Reconciliation|of Funds| |Total|Funds|brought forward|1,495,842|37,545|115,963|1,649,350| |Total Funds Carried|forward|1,625,808|40,451|116,125|1,782,384|

----- End of picture text -----

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