**REGISTERED CHARITY NUMBER: SC007298** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025** ## **FOR** ## **GALLOWAY HOUSE GARDENS TRUST** Bell Ogilvy Chartered Accountants 36 King Street Castle Douglas Dumfries & Galloway DG7 1AF **GALLOWAY HOUSE GARDENS TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025** ||**Page**| |---|---| |**Report of the Trustees**|1 to 3| |**Independent Examiner's Report**|4| |**Statement of Financial Activities**|5| |**Balance Sheet**|6| |**Notes to the Financial Statements**|7 to 14| |**Detailed Statement of Financial Activities**|15 to 16| **GALLOWAY HOUSE GARDENS TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025** The Trustees present their report with the financial statements of the charity for the year ended 5 April 2025. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objects for which the Trust is established are principally to maintain the historic integrity of Galloway House Gardens at Garlieston to promote and encourage public access and make use of the grounds for the purposes of recreation and leisure, for the benefit, enjoyment and social welfare of the public. ## **Significant activities** Galloway House Gardens are located on the Solway coast in the part of Galloway known as The Machars, close to the village of Garlieston in Wigtownshire. (Galloway House does not form part of the trust and is in separate, private ownership and is not open to the public). The main activity is the maintenance and management of the Gardens, which have substantial historical and scenic significance. The Trust has a formal management plan already in place that detail our overall strategy to restore and develop the Gardens and woodlands to maintain their historic integrity and format and to promote and to enhance public access. A copy of the management plan is available upon request. The Trustees continue to operate a maintenance programme, within the confines of our resources and continue to strive to improve the Trust's income. Our principle and regular sources of income are two holiday cottages owned by the Trust, entrance fees via the ticket machine in the car park, season tickets, voluntary donations and seasonal sales of firewood and produce, that collectively provide a valuable contribution towards the continued upkeep and administration of the Trust There are three Trustees and whilst it is not restricted to this number, at the moment we consider it an appropriate level given the size of the Trust.The Gardens & Grounds are open to the public from 1 March to 31 October each year - although by prior appointment access can be arranged at other times of the year. ## **Volunteers** No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Page 1 **GALLOWAY HOUSE GARDENS TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025** ## **OBJECTIVES AND ACTIVITIES Chairman's report** I report the situation and general events within the year under review. Maintenance activities in the arboretum have mainly centred around clearance and necessary tree surgery, following a series of destructive storms culminating in Storm Eowyn that caused significant damage within the woodland garden and additional costs to clear. On a more positive note, the successful award of the Davidia (Handkerchief Tree) National Collection (Scotland) status to the Gardens, is a welcome and appreciated accolade. The refurbishment of the Vinery, our principal glasshouse, continued steadily and is reaching the final stages of completion. The holiday cottage bookings, although down on the previous year, the maintenance costs have reduced, so, on balance the net result was positive. Visitor numbers and entrance fees encouragingly showed a marginal increase on the previous year. The Trust benefited from a generous private donation; we plan to allocate the gift to a project that will provide an enduring legacy to reflect the kind consideration of the donor. An additional donation from Wigtown Community Shop was also gratefully received. The Trustees really appreciate the generosity of these donations and the support that they bring. The values of the investment portfolios have been under downward pressure following global market turbulence, however, in spite of those headwinds, the investments have proved reassuringly resilient in the circumstances. The sheer scope and size of the property and gardens, coupled to the historic nature of the place, inevitably presents an ongoing challenge and one that is unlikely to diminish. However, the Trustee's underlying endeavour is to maximise our available resources to enhance the gardens and facilities, and continue to provide a beneficial recreational space. I would like to record my great appreciation of the voluntary contribution, time and effort of all the Trustees and to our regular & enthusiastic garden maintenance contractor. Also to record our thanks for the in pport of all our visitors and contributors. Lastly a special mention to for her loyal voluntary administrative support on behalf of the Trust. ## **FINANCIAL REVIEW** ## **Financial position** Our main source of income is from the holiday cottages supported by the investment portfolio and from visitors and donors. Revenue receipts for the year amounted to £76,812, an increase from the previous year's receipts of £70,394. Payments amounted to £89,669 up from £85,655 in the previous year. As a result, there is a deficit of £12,857 (2024: £15,261) before taking account unrealised gains and losses on the investment portfolio. Total reserves held at the year end were £719,997, of which £284,850 were restricted funds. ## **Investment policy and objectives** The investment policy is aimed at maintaining the real value of the General Fund over a period of years and thereby providing a reasonable level of income to meet the requirements of the Trust. During the period the Trustees reviewed the investments with the professional advisers. The Stockbrokers have discretionary powers in relation to the management of the listed investments and exercise these within the agreed investment policy. The market value of the investments as at 5 April 2025 was £443,165 (£467,464 at 5 April 2024) compared to the cost of £398,410 (£408,165 at 5 April 2024). Page 2 **GALLOWAY HOUSE GARDENS TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025** ## **FINANCIAL REVIEW** ## **Reserves policy** The Trustees seek to ensure that sufficient funds are held in reserve, including capital, to meet necessary expenditure for at least two years in the event of a substantial reduction in income. ## **RISK MANAGEMENT** The Trustees have considered the major risks to which the trust assets are exposed and have taken appropriate steps to seek to limit these risks. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The Galloway House Gardens Trust was established by a Deed of Trust by in 1987. The Trust was recognised by the Inland Revenue as a charity in 1987. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** SC007298 ## **Independent Examiner** Bell Ogilvy Chartered Accountants 36 King Street Castle Douglas Dumfries & Galloway DG7 1AF 03/06/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by: **----- Start of picture text -----**
.......
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Page 3 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GALLOWAY HOUSE GARDENS TRUST** I report on the accounts for the year ended 5 April 2025 set out on pages five to fourteen. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. ## **Basis of the independent examiner's report** My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention : - (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and - to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Bell Ogilvy Chartered Accountants 36 King Street Castle Douglas Dumfries & Galloway DG7 1AF 03/06/2025 Date: ............................................. Page 4 **GALLOWAY HOUSE GARDENS TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025** **----- Start of picture text -----**
2025 2024
Unrestricted Restricted Total Total
funds fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 10,850 - 10,850 60
Charitable activities
Garden maintenance 14,296 - 14,296 11,621
Investment income 2 46,932 4,734 51,666 58,713
Total 72,078 4,734 76,812 70,394
EXPENDITURE ON
Raising funds 3 22,725 1,665 24,390 43,114
Charitable activities
Garden maintenance 45,539 19,740 65,279 42,541
Total 68,264 21,405 89,669 85,655
Net gains/(losses) on investments (8,501) (6,282) (14,783) 18,870
NET INCOME/(EXPENDITURE) (4,687) (22,953) (27,640) 3,609
Transfers between funds 12 2,583 (2,583) - -
Net movement in funds (2,104) (25,536) (27,640) 3,609
RECONCILIATION OF FUNDS
Total funds brought forward 437,251 310,386 747,637 744,028
TOTAL FUNDS CARRIED FORWARD 435,147 284,850 719,997 747,637
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The notes form part of these financial statements Page 5 **GALLOWAY HOUSE GARDENS TRUST** ## **BALANCE SHEET** ## **5 APRIL 2025** |Notes
**FIXED ASSETS**
Tangible assets
6
Investments
7|Unrestricted
Restricted
funds
fund
£
£
137,053
109,751
263,274
179,891|2025
2024
Total
Total
funds
funds
£
£
246,804
246,638
443,165
467,464| |---|---|---| |**CURRENT ASSETS**
Debtors
8
Cash at bank|400,327
289,642
640
-
43,365
-|689,969
714,102
640
309
43,365
43,019| |**CREDITORS**
Amounts falling due within one year
9|44,005
-
(7,718)
(4,792)|44,005
43,328
(12,510)
(6,126)| |**NET CURRENT ASSETS**|36,287
(4,792)|31,495
37,202| |**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year 10|436,614
284,850
(1,467)
-|721,464
751,304
(1,467)
(3,667)| |**NET ASSETS**|435,147
284,850|719,997
747,637| |**FUNDS**
12
Unrestricted funds
Restricted funds||435,147
437,251
284,850
310,386| |**TOTAL FUNDS**||719,997
747,637| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 03/06/2025 The notes form part of these financial statements Page 6 **GALLOWAY HOUSE GARDENS TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025** ## **1. ACCOUNTING POLICIES** ## **BASIS OF PREPARING THE FINANCIAL STATEMENTS** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Going concern** The financial statements have been prepared on a going concern basis. The executive committee has assessed the charity’s ability to continue as a going concern and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. ## **INCOME** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **EXPENDITURE** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **TANGIBLE FIXED ASSETS** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery - 25% on reducing balance ## **TAXATION** The charity is exempt from tax on its charitable activities. ## **FUND ACCOUNTING** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **FINANCIAL INSTRUMENTS** Cash and cash equivalents comprise cash on hand and call deposits, and other short term high liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. ## **Trade Debtors** Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business. Page 7 continued... **GALLOWAY HOUSE GARDENS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025** ## **1. ACCOUNTING POLICIES - continued** ## **FINANCIAL INSTRUMENTS** Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties. ## **Trade Creditors** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the organisation does not have conditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are represented as non current liabilities. ## **Borrowings** Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of financial activities over the period of the relevant borrowing. ## **Provisions and contingencies** Provisions are recognised when the organisation has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably. ## **Fixed Asset** Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. ## **Realised gains and losses** All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. Page 8 continued... **GALLOWAY HOUSE GARDENS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025** ## **2. INVESTMENT INCOME** |Cottage lets
UK dividends
Fixed interest
Overseas dividends
Bank interest
Overseas interest
**RAISING FUNDS**
**INVESTMENT MANAGEMENT COSTS**
Portfolio management
Cottage expenses|2025
£
39,717
8,609
1,376
1,699
265
-
51,666
2025
£
3,976
20,414
24,390|2024
£
46,459
8,368
1,446
2,013
100
327
58,713
2024
£
4,090
39,024
43,114| |---|---|---| ## **3. RAISING FUNDS** ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024. ## **TRUSTEES' EXPENSES** During the year three Trustees received expense payments totalling £720 (2024: £983) for reimbursement of mileage and business expenses. |**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
60
**Charitable activities**
Garden maintenance
11,621
Investment income
53,895
**Total**
65,576
**EXPENDITURE ON**
Raising funds
41,411
**Charitable activities**
Garden maintenance
42,475
**Total**
83,886|Restricted
fund
£
-
-
4,818
4,818
1,703
66
1,769|Total
funds
£
60
11,621
58,713
70,394
43,114
42,541
85,655| |---|---|---| Page 9 continued... **GALLOWAY HOUSE GARDENS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025** **----- Start of picture text -----**
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds fund funds
£ £ £
Net gains on investments 9,466 9,404 18,870
NET INCOME/(EXPENDITURE) (8,844) 12,453 3,609
Transfers between funds (66) 66 -
Net movement in funds (8,910) 12,519 3,609
RECONCILIATION OF FUNDS
Total funds brought forward 446,161 297,867 744,028
TOTAL FUNDS CARRIED FORWARD 437,251 310,386 747,637
6. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£ £ £
COST
At 6 April 2024 242,347 21,831 264,178
Additions - 1,296 1,296
At 5 April 2025 242,347 23,127 265,474
DEPRECIATION
-
At 6 April 2024 17,540 17,540
-
Charge for year 1,130 1,130
-
At 5 April 2025 18,670 18,670
NET BOOK VALUE
At 5 April 2025 242,347 4,457 246,804
At 5 April 2024 242,347 4,291 246,638
**----- End of picture text -----**
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each period. Page 10 continued... **GALLOWAY HOUSE GARDENS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025** ## **7. FIXED ASSET INVESTMENTS** **----- Start of picture text -----**
||| |---|---| |Listed| |investments| |£| |MARKET VALUE| |At 6 April 2024|467,464| |Additions|72,011| |Disposals|(81,766)| |Revaluations|(14,544)| |At 5 April 2025|443,165| |NET BOOK VALUE| |At 5 April 2025|443,165| |At 5 April 2024|467,464| **----- End of picture text -----**
The listed investments held are all dealt with on a UK Stock Exchange. The listed investments may be summarised as follows: **----- Start of picture text -----**
|||| |---|---|---| |Historic cost|Market value| |at 5 April 2025|at 5 April 2025| |Fixed interest securities - registered in the UK|68,096|67,145| |Equities and Unit Trusts / OEICs - registered in the UK|256,254|283,983| |Equities and Unit Trusts - OEICs - registered in Jersey, Guernsey| |or Ireland|48,118|70,174| |Equities and Unit Trusts / OEICs - registered in Luxembourg|13,128|12,535| |Property companies - registered in the UK|9,808|6,204| |Alternatives|3,006|3,124| |398,410|443,165| **----- End of picture text -----**
Cost or valuation at 5 April 2025 is represented by: **----- Start of picture text -----**
||| |---|---| |Listed| |investments| |£| |Valuation in 2017|21,067| |Valuation in 2018|(1,364)| |Valuation in 2019|8,620| |Valuation in 2020|(101,539)| |Valuation in 2021|126,939| |Valuation in 2022|20,799| |Valuation in 2023|(21,815)| |Valuation in 2024|6,463| |Valuation in 2025|(14,544)| |Cost|398,539| |443,165| **----- End of picture text -----**
Page 11 continued... **GALLOWAY HOUSE GARDENS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025** **----- Start of picture text -----**
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 640 309
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Bank loans and overdrafts (see note 11) 2,569 2,200
Trade creditors 9,217 1,436
Other creditors 724 2,490
12,510 6,126
10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£ £
Bank loans (see note 11) 1,467 3,667
11. LOANS
An analysis of the maturity of loans is given below:
2025 2024
£ £
Amounts falling due within one year on demand:
Bank overdrafts 369 -
Bank loans 2,200 2,200
2,569 2,200
Amounts falling between one and two years:
Bank loans - 1-2 years 1,467 2,200
Amounts falling due between two and five years:
-
Bank loans - 2-5 years 1,467
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Page 12 continued... **GALLOWAY HOUSE GARDENS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025** ## **12. MOVEMENT IN FUNDS** |Net
movement
At 6.4.24
in funds
£
£
**Unrestricted funds**
General fund
200,845
(317)
Joan Strutt Charitable Trust
236,406
(4,370)
437,251
(4,687)
**Restricted funds**
Joan Strutt Charitable Trust
310,386
(22,953)
**TOTAL FUNDS**
747,637
(27,640)
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
66,667
(66,403)
Joan Strutt Charitable Trust
5,411
(1,861)
72,078
(68,264)
**Restricted funds**
Joan Strutt Charitable Trust
4,734
(21,405)
**TOTAL FUNDS**
76,812
(89,669)
**Comparatives for movement in funds**
Net
movement
At 6.4.23
in funds
£
£
**Unrestricted funds**
General fund
188,544
(22,133)
Joan Strutt Charitable Trust
257,617
13,289
446,161
(8,844)
**Restricted funds**
Joan Strutt Charitable Trust
297,867
12,453
**TOTAL FUNDS**
744,028
3,609|Transfers
between
At
funds
5.4.25
£
£
9,683
210,211
(7,100)
224,936
2,583
435,147
(2,583)
284,850
-
719,997
Gains and
Movement
losses
in funds
£
£
(581)
(317)
(7,920)
(4,370)
(8,501)
(4,687)
(6,282)
(22,953)
(14,783)
(27,640)
Transfers
between
At
funds
5.4.24
£
£
34,434
200,845
(34,500)
236,406
(66)
437,251
66
310,386
-
747,637| |---|---| Page 13 continued... **GALLOWAY HOUSE GARDENS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025** ## **12. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Joan Strutt Charitable Trust|Incoming
Resources
Gains and
resources
expended
losses
£
£
£
59,828
(82,001)
40
5,748
(1,885)
9,426|Movement
in funds
£
(22,133)
13,289| |---|---|---| |**Restricted funds**
Joan Strutt Charitable Trust|65,576
(83,886)
9,466
4,818
(1,769)
9,404|(8,844)
12,453| |**TOTAL FUNDS**|70,394
(85,655)
18,870|3,609| Purpose of Unrestricted Funds: General - for the general purposes of the charity. Purpose of Restricted Funds: Joan Strutt Charitable Trust - the purpose of this grant is to provide facilities in the interest of social welfare for recreation and leisure time occupation for the benefit of the public in particular by maintenance and management of the Gardens for recreational and other purposes for the benefit and enjoyment of the public and (without prejudice to the generality of the foregoing) with particular regard to fostering the enjoyment of the Gardens by persons suffering from mental or physical disability and to provide relief of those in need because of age, ill-health or disability. 50% of this grant has been provided towards the normal purposes of the charity so has been allocated as an unrestricted designated fund. ## **13. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 5 April 2025. Page 14 **GALLOWAY HOUSE GARDENS TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025** **----- Start of picture text -----**
2025 2024
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 10,850 60
Investment income
Cottage lets 39,717 46,459
UK dividends 8,609 8,368
Fixed interest 1,376 1,446
Overseas dividends 1,699 2,013
Bank interest 265 100
Overseas interest - 327
51,666 58,713
Charitable activities
Entrance fees & season tickets 11,366 11,121
Bulb and firewood sales 2,930 500
14,296 11,621
Total incoming resources 76,812 70,394
EXPENDITURE
Investment management costs
Portfolio management 3,976 4,090
Cottage expenses 20,414 39,024
24,390 43,114
Charitable activities
Maintenance 43,980 25,555
Parking meter costs 1,574 1,235
Fuel costs 7,020 5,771
Insurance 5,491 3,701
Posts, stat. and other cost 706 1,441
Bank charges 2,884 931
Trustees' travel & meetings 720 983
Plant and machinery 1,129 1,430
Bank loan interest 119 174
63,623 41,221
Support costs
Governance costs
Independent Examination 1,656 1,320
Total resources expended 89,669 85,655
Net expenditure before gains and losses (12,857) (15,261)
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This page does not form part of the statutory financial statements Page 15 **GALLOWAY HOUSE GARDENS TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025** **----- Start of picture text -----**
2025 2024
£ £
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments (239) 12,406
Net expenditure (13,096) (2,855)
**----- End of picture text -----**
This page does not form part of the statutory financial statements Page 16