REGISTERED COMPANY NUMBER: SC539138 (Scotlandl REGISTERED CHARrrY NUMBER.. SC010314 Re ort ol the Trustees and Audited Con501idat d Financtal Statements lor the Year Ende(f 315t December 2025 for en's H Kelso Limit
8n's Housè Kfrlso Conten the Consolidated Inanclal Statements for the ear endèd 31 t December 2025 Page Rèf•rnnc• and Admlni$tratlvè Detalls R•port of the Truste Report of the Independent Audltars 6 to 8 Cons0lid4t•d Statement of Finanelal Actbvitios Siaiemfrnt of Flnanclal Activities 10 Consolidated Slatemtnt of Flnanclal PositTon Consolidated St#t•mont of Cash Flows 12 Not•s to the Consolldatgd Statèment of Cash Flows 13 Not•s to the Consolidatèd Flnanclal Statem¥nts 14 to 27
ueen'$ Hou$9 Ke150 Limlt*d Ref•r•ncè and Admlni$trativÈ DètBiIs for th6 ear ended 31st December 2025 Trustees: Miss D A Dobson Iresigned 1141261 Mrs R J J8¢kson A G Wemyss {resigned 1811W251 MTS V S Yongts Dr l A Sutherland W J Windram F Calder Dr G M Arbuckle A S W Amstrong IChairm8nl C R Baird lapptsinted 1314126} RegisteTed Office: Rennie Welch Academy House Shedden Park Road Kelso Roxburgltshl TD5 7AL Prin¢lpal Address., Angraflal Road Kelso Roxburghshire TD5 7NS Roglst8r8d Cifftipany Number: SC539138 Iscottandl Regl$ter&d Chgrlly Numbtrr- SCO10314 Audltors: Thomson Cooper 3 Castle Court Dunlermline KY11 8PB Chlel Executlv¢: Mrs K Brown RN, Bsc. Dip Page 1
Quo•n's K8lso Istgred nUrnr. 138 Re ar ort ol the Trust008 nded 31st D mber 202 for the The Truste8s who are also Directors of the Charity for the purposes of the Companiès Aet 2006, prasenl Iheir report with the financial stslements of the Charity for the y&ar ended 315t December 2025. The Trustees have adopted thè provisions of Accounting and Reporting by Charities.. Sialement of Recommen(Jgd Practice applicable to charities Preparing their acwunts in accordan¢e with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 leff¢¢tNe 1 January 20191. Objectives and acti¥itie$ ObjKtl¥*$ and alm5 Throughout Ihe year the Home has been able lo achieve exlIent average occupancy levels al 99.6% which is irt linè with the 2024 figure of 99.9%. Place and Spa¢è has been fully functional duriry the year and the service continues lo grow. Under the experienced leadership of the Chief Execvtive, Mr8 Kèlly Brown RN, MSC, 8S¢. Dlp a robust management 5lructure has continued to be developgd with the aim ol providing 8 high le¥el ol quality care for the residents. The Charitable Company ¢ontinues to place emphasis on the participation ol residents, relatives and staff In foTmtng key policies on the running of the Home and the Trustses are very receptive to ideas and suggestions reoived from these groups. As a result the Home has been able to provide a wide range of activities for residents lo partiapale in and enjoy with great 9mphasis on encouraging residènts to develop personal outcomes. This has been delivered, in particular, by the Place and Space and the Vvellbeing teams. With the availability of thè minibus, residents have been able lo tske trips away froTh the Homè throughout the year. In the past the Homé has built up a close relationship with the pupils of Kelso High School and th8 11)¢al primary schools and il is hoped thal visits by pupils can be encouraged. The Home ¢ontintJes lo work closely with the locol G.P. Practice and Scottish Borders Coun¢il and Is grateful for the supFvrt and en¢ouTagement which these organisations give. The Trustees continue to be very active in these ¢tifficult times of the health needs of the Scottish Borders and aim to assist in meeting these needs particularly of the elderly and those suftering from dementia. Ongoing development and future plans The Charitable Company has a structure of management with a Registeled Care Home Manager and Assistants takin9 forward the organisational delivery of care over all 3 Houses. They ar& supported by a team of senior stsff in the specsalist fields ol care. nursing, business management and psychological wellbeing wilh the oversight of 311 areas by the Chief Executive, allowng her to locus on high level quality aSSrances. monitoring, stralegic develupmenl, innovative PTacbce and strong leadership. Adraft strategic 5 year plan has been prepared lo assist Trustees, the M8n8gement Team and staff lo Continue to provide exceptional care in the fulyre. The Trustees have ¢onl>nued the priyJramm& of upgrading the laciliti&s of Queen's House lo br4ng them up lo the same standards os the purpose built dementia unils. This work is ongoing. A programme of further capital improvements and refurbishment to the buildings, furnishings and equipment has been prepared with work likely to take place over the nexl couple of yoar8. Pl8ce and Space has been open lor the whole year for residents and the comrnunity providing a focal point with activities and also a ckfè for people in Ihé tommunily living with Otrmentia and for their relatives. Page 2
ueen's House Kelso Llmlted Re st number: 39138 Re ort of the Truste•8 r ènded 318t Decembèr 2025 ObjectNtr$ •nd a¢vItIeS Volunteers The Trustees of the Charitable CDmp3ny consist entirely ol volunteers. ts well as dealing with 9overnance and slr8tegic isstles Ihe Twslees Continue a prffjr8mme of visits lo the Horne lo meet residents and stsff lo monitor and discuss with them various aspects of the runniryJ ol the Home. Volunteers also rÈgularly visit the Home lo provlde entertainment religious servi8 and recreational activities. Home is in the process of developing a moTe sltudured mrKlg1 of involving voluntee¥s lo inleracf with residents. Thè Trustees are indebleLrf to the donors and grant funders who h8¥e been so generous in providiro support for Ihe various capital and development prOgraMn5. The Trustees are also very grateful to the local ¢ommunSty ft>r Ihe conlinued support and assistance which it gives to the Home. Financial review Flnanclal posltlon During the year the Charikbfe Company produced a surplus or £418,985 in its 9eneral fund12024- £425,942>. The results are considered to be satisfa¢tory. Hl9h levels of o¢¢upanw throughout the yèar and strong cc>ntrols over expenditure have been key factors in aChving this resuh. Reservès policy The Truslee5' long term aims a to operate the Home at a level lo generate suffiGienl surplLts lo cover ils borrowing commitment. unexpected c<>ntingèn¢ies, provi$ton foi future maintenance sufficient lo keep the fabric of the Hom& at a high stsndaid Jrnd generate resource5 nece55ary to explore ways of improving fa¢ilslitrs for the care of the elderly in the Scotlish Borders and endeavourtodevelop these. To cover 811 Ihls the Truslees estimate that the uniestricted reserves target should be £1,794,464. The actual unrestricled reserves balance al 31st Decemb¢r 2025 was £2,874,630 so therefore the Charitsbla Company has mel this target. The TnJ$téÈs' also fèel that it is prudent to have enough unrestricied reserves to Cover four months gross wages together with a contingency fund of £250,000. Based on salary costs for the four months lo 31$1 Decemb&r 2025 the unrestrlded reserves target would be £1,566.012. The actual unrestricted reservos tsalan at 31st December 2025 was £2.874.630 so thei¢foTe thtr Charitsble Company ha$ mel this target. Thp Tnjstees have ennsidered the Charltable Company financial position lor 2 peri(xl of 12 months from Ihe date of signing these financial statements and have reasonable expectation that the Chariiable Company have ad8qu8ta rèsouic@s to continuè in opar8tion81 èxistence lor the next 12 months. Accordingly, they conts'nue lo adopt the going concern basis in prepar¢no these finanual Statements. Strurtur¢, 9ov¢mane¢ and managemgnl Governlng document QLJeen's House IKelsol Limited is a Company limited by guarantee registered with the Office of Scollish Charity Regulator. The Trustees operale 8 Company, a wholly owned substdiary of Qu¢ens House IKelsol Limited, Angraflat Development Company Limlled ISC5508911 (Scollandl, which has undertaken Ihe building of the Dementsa Unit and Central Hub and which lease these facilities to Queen's House IKelsol Limited. Page 3
ue•n's House Kel¥0 Imlt•d r: SC539138 ort cf the TTUSteg ear ended 3 December 202 lor the Struclure, govemanc? and management Organisation#l $tructur• The Twstees who meet frequently consist of members with a whle variety of experience in the main fields of operation of the Charitsble Company. New membprs are chosen because they have k0wIe9e gf somg particula¥ aspect of the opefalion and new members will be fully briefed about the working ol the operation. Various members of the Committee are earm8Tkèd to consult with the m8n8gers on particular issues. Finan Committee, Clinical Governance Committee and a Slaffing Committee also meet as and when appropriate. In December 2025 Mr A G Wèmyss stepped down as Tnjstee and Chairman, Hg had served as a Trustee for 9 yeaTS and had been Chaimian IOT three years. His leadership and guidan has been greatly appre¢iated by the Trustees and the managemènt team. Mr A S W Armstrong has taken over as Chairman. The Trustees delegated responsibilty ol tho overall slr8tgglc managgmenl of tho Homg to Mrs Kelly Brown. ihe Chief Executwe. Mrs Brown manages an operational team of man3gers lo run the day-tO-d8y opèralions ol the Home which include the Registered Care Home Marsager and Assistant Managers. Mrs Brown's Business Manager and Finance ManageT 8180 stÈpport th8 Home with management matters of a non-cllnical nature. In February 2025 the Trustees organised and attended a Trustees 8way day. The day included, amongst olhor things, discussions with employeès from Scottish Borders Council about lutur8 car8 needs. Risk management Th8 Trusteès have a duty to id8ntify and review the risks lo which the Charitable Company is exp¢)sed and to ensure appropriale controls are in pl to provide reastsn8ble assurance against fraud and error. The key business risks affecting the Charitable Company are: Inflation Interest rates - Ot¢vpancy stsffing Cyber security The Trustees regularly review risk strategy and make arrangements 10 réduce exposure using appropriate financial inslrumenls. Thè Charitable Company mana9e its cash an¢J borrowing in order to minirni88 int$rest expense whilst ensuring the Charitable Company has sufficient liquid feswrces lo meet the opeiab.ng needs of the organisation. The Charrtable Company Cothoperates fully wilh IhE regulatory servi¢es ol the Care Ir¥speclor8le who monitor the services provided by Queen's House IKels01 Limited. Prinelpal actlvity The principal activity of the Charitable Company in the year under review was Ihal of residéntial and nursing care foi the elderfy in the Borders. In addition to providing long term care the Gharilable Company could also Pfovide respite care. From December 2018 Ihe Charitable Company w85 also able to provide specialist dementia care and now Blso pr()vide5 a Café and Activity Centre aimèd at providing a faGilty for people living with demenlia and their carers to meet. Statèmènt of Trustees. re5pon$ibIlles The Trustees {who are alsu IhE directors ol Queen's House IKe15ol Limited for the purposes of Company IBw} are responsible lor weparing thè Rèport ol the Trustees and the financial stalemgnts in accordance wilh applicable law and United Kingd(xn Accounting Standards (United Kinodom Generalty Accepted A¢¢ounlir¥J Praclicel. Page 4
ueen's House Kel80 Limit•d R• I t d numbèr: SC 39138 ort of thg Trustpg èar •nded 31st December 2025 for thè Statement of Tru$t•¢s' r•sponslbllltlè$ - contlnued Company law reqL*ires the Trustees to prepare financial stalemenls lor each fif)ancial year. Under Ihat18W, the Trustees have elected lo prepare thé financial statements in accordance with United Kingdom Generally Accepted A¢¢ounling Prath'¢¢ (United Kingdom Accwnling Standards and applicable lawl. Under company law the Trusle¢s must nol approve the financial statements unless they are satisfied that they give a truè and lair vw of the state of affair5 of the Charilable Company as lo the incoming rèsources and application of resources, including the in¢ome and $xp¢nditure, of the Charitable Company for that period. In preparing those finanual statements, the Trustees are required lo.. select suitable accounting poIleS #nd IhÈn 8pply Ihèrn consislently., observe ihe meth¢xSs and principles in the Charities Siatement of Recommended Pra¢lice', make judgements and estimates Ihal are reasonable and pAent., prepare the financial statements on Ihp gosll9 con¢em basis unless rt is irwpropriate lo presurne that th& Charitable Company will continue in business. The Trustees are r8sponsible for keeping proper accounting records which disclose wtth rèasonable accuracy al any lime Ihe financial Pcssition of the Charitable Company and lo énablè them lo ensure that th8 financi3 statements comply wilh the Companses Act 2006. They are also responsie for safeguarding the assets of the Ch8ritable Company and hence for taking reasonable steps for the prevention and detection of fraud and other iNegulaTltie5. In so lar as the Trustees are aware.. there is no relevant audil information of which the Charrtable Company's auditors are unaware.. and Ihe Ttustètrs have taken all steps that they OL¢ghl to have taken to mak8 thernselves awa ol any relevant audit infoTmalion and lo estsblish that the auditors are aware ol that infomialion. Auditors In Novèmbèr 2025 Thomson Cooper were appointed auditors of Cueen's House (Kelsol Limited. The auditors. Thomson Cooper, will be pyoposetl for re-appointment al Ihtr forihwmirYJ Annu81 General Meeting. This report has been prepared in 8¢¢ortsn¢e with the special provisions ol Part 15 of the Companies A 2006 felaling lo srnall companies. Approved by Order of the board of Tnjstees on 30th July 2026 and signed on its behalf by.. A S W Armslron9- Trustee Pa9e 5
Re orto •en's House •ndgnt Audltors t th• rust••s and Members of Ke15Q Limited Re Istered number: SC539138 Opinion We havè Audit6d Ihe gTOUP and par8nt financial statements ol Queen's House IKelsol L1rned Ithe'Charit8b18 Companll for the year ended 31st December 2025 which Comprise the consolidated StalerTient ol Financial Activities, the consolidated Slatement of Financial Position, the consolidat8d Statement of Cash Flows and notes lo the consolidated lin8ncial statements, including a summary ol significant accour41ing policies. The financial reporting framework that has been applied in their preparation is applicablè law and United KingdoTn Accounting Starards, including Financial Reporting SlarKlard 102 Thp Financial Reporting St8ndard applicable in the UK and Republic of Ireland (United Kin9dom Generally Accepted Accounting Practs'cel. In our oplnion the financial 513lements'. give a truè and fair view of the stste tsl the Group's and P8rent Chartiable Company'$ affairs as 81 31 st December 2025 and of its incoming sourceS aJ(J appli¢ation Df resovrces. for the year then ended., have been property prepared in accordance with United Kingdom Genérally Accepled Accounting PractrA- 8nrJ have been prepayed in a¢¢ordance with the requirem&nts of Ihe Companies Act 2006, the Charities and Trusteè Invastrnenl (Scollandl Act 2005 and Regulation 8 of the Charits"es Accounts Iscollandl Rggul81ions 2006 la5 arnendedl. Ba$1$ for opinlon We ¢ondu¢tod our audit in accordance with International Standards on Audiiing IUKI IISAS IUKII and applie2ble law. Our responsibilities under those sl8ndard5 are further described in the AtJditDrs' responsibilities for the aud(( of the financial statements se¢tion of our report. We are independent ol the Group and Parent Charitable Company in acwrd8nGe with the eihical requiTements that aTe levant lo our audit of the financial stalements in the UK, induding the FRC'S Ethical Standard, and we havè fulfi116d our other elhical responsibllilies in accordance with these requirement5. We believe that the audit evidence wo have obtsined is sulficienl and appropnate to provide a basis for our gpinlon. Concluslons relating to golng concern In auditing the consolidated financial stalèm8nts, we have conclude(f Ihat the Tnjstees. use of the golng concern basis of accounting in the pieparation of the financial slatements is appropriate. Based on the Work we have performed, we have not identified any malerial uncertainties relaling to events or conditions that, individually or collect¢vely. may ¢ast SIgn1rnt doLibl on the Group and Parenl Charilable Company's 2bility to continue as a going concem lor a period of at least twelve rnonlhs Irom when the consolidated financial statements are aulhorised lor issue. Our responsibilities and the responsibilities of ihe Tn&stees wilh respect lo going concern are described in the relevant sections ol this report. other infomatlon The Trustees ale responsible lor the other information. Th* other information comprises the inlormation Included in the Annual Report, olher than Ihg (xinsolidated financial ststements and o¢Jr Report of the Independent Auditors thereon, Our opinion on Ihe con501Klaled financial statements tloes nol cover the other infomation and, except to the extent otherwise explicitly stated in our report, wè do not eXp$S any form of assurance conclusion Ihereon. In connection with our audit of the consolidated fin8n¢ial statements, our responsibility is to read the olher information and, in doing 50. consider whether the other inforrnalion is malerially incon51slenl with the ¢Ons01idated financial slatemÈnts or our knowledge obtained in the athlit or othenwisè appears to be materially misstated. If we IL1enlify such malerial inconsistencies or apparent material misstatements. we ere roquired lo dèt6m)ine whether this gives rise to a material rnisstslgment in the consolidated financial statements themselve5. If. base¢J on the work we have pertormed, we conclude that there is a material misstatement of this other Inlormation, we are required lo report that lact. W8 have nothing to report in this regard. Page 6
Re ort of th* Inde ond¢nl Audltors to th• T Mgmb8rs of Queen's House Kelso Limited Re istered number- SC539136 Oplnlons on other matters prescribed by the Companies Act 2006 In our opinitsn, based on the work undertaken in the course of the aud((-. the information given in the Report of the Tiuslees lor the financial year for which the consolidated financial slatements are prepared 15 consistent with the financial statements.. and Ihe Report of the Trustees h8s been prepared in accordance with epplicable legal requirements. Matters on whlch we are required to repc¢rt by exceptlon In the light of the knowledge and un(Serstanding of the Group and P8renl Charatable Company and its environment obtained in the ¢outse of the auilil, we have not identified material mis3talements in the Rew)rt of the Trustees. We have nothing to report in respecl of the foll¢ywing matters where the Companies Act 2006, the Charitiès Accounts {Scot¢andl Règula&'ons 2006 (as amendèd) and Charitiès and Trustèès Inveslment (Scollandl Act 2005 requires us to re lo you if, in our opinion". dequate and proper accountiThJ recorés have not been kepl or returns adequale for our audit have not b8en re¢eiv$d Iiom braA¢hps ntsl vbsitsd by u5.. or the Cor113ted financial statements are not in agreeent with the accounting records and returns., or certain disdosures ol Trustees, remuneration specified by law are nol made., or we have not receive¢J all the inlomiation and explanations we require for our audil. ResponslbblleS of Trustees As explained more fvlly in the Stalernenl of Trustees. Responsibilities, the Trustees, who arè 81so the directors of Ihe Charitable Ct>rnpany for the purpose of cotnpany law, are fesponsible for the preparation ol the consolidated finarKial statements and for being satisfied thatthey give a true and fair view, and for such intemal control as thè Trustees detem)inè Is neceysary to enable thÈ prèparation of coftsolidated ffinanci815talements that are free from malerial misstatement, whether dLSe to fraud or error. In preparing Ihe consolidated financial slalements, the Trustees are responsible fora5se5sing the Group's and Parent Chafitable Compan5 ability lo continue as a going cCern, disclosing, as applicable. matters related lo going concem and using the 90ing concern basis of accounting unless the Trustees either inlend to liqui<J8le the Charitable Company or to cease operatsor¢s, OT have m realistic altemalive bul to do so. Our rèsponsSbllltles for the audlt of the flnanclal statements We have beeft appointed as auditor undèr section 4411 Ilcl of th8 Charities and Trustee IS¢ollandl Act 2005 and report in accordance with Ihe Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the consolidated financ¢al statements as a whole are free from material misstslemenl, whether due to fraud OT error. and to issuo a Report of the Independent Auditors that includés our opinion. Reason8ble assurance is a high level ol assurance. but is not a guarantee that an audtt conducted in accordance with ISAS IUKI will always detect a materi81 misslalement when il exlsts. Misststemenls can #iise trom fraud or error arKf are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic dedskms of users taken on the b8sis of these consolidated financtal slatemenls. The extent lo which OUT procedures 8re capable ol detecting irregularities, including fraud 1$ detsiled below.. We consi¢Jered the OPPDrtunitie5 and incentives that may exist within the Organisation for fraud and identified ihe greatest potenti81 tr)r Iraud in Ihe following areas." estenCe and timing of recognition of grant sneome and the postin9 of transactions to the correcl funds. We discussed these risks with management, designed audtt procedures to lest the timing and exislenGp ol donalions and grant in¢ome. including rèvtÈwing of grant paperwork and terms and conditions, revtewing the allocalion olcosts againstthe corrèct funding and revlewed areas ofjudgemenl IOT indicators of managernenl bs"85. We identified areas of laws and Tegulations thal could reasonably be expected lo havF a material efftrct on the consolidated financial stal&mènts Irom our sector experience through discussion with the officArs 8nd Oihef management las required by the auditing standards). We focused on specific laws and regylations which May have a direct materi81 effect on the consdidated financial stslements or operatton ol the Charitable Company, includin9 the Charities and Trustees Investment Iscotlandl Act 2005, re9ulation 8 of the Charilies Accounts IScotSandl Regulation5 20C6 las amended), and the Care Inspectorate. Page 7
ortoft ueen's House ndont Audil¢rs t Ko1$0 Llmltèd TnJst•os and Mgmbers istered Dumber: SC539138 Our rosponslbllilies for the audlt ol thè flnanclal statements - ¢ontlnuèd We assessed the exlenl of compliance of the law5 and iegutalions identthed above by inspecting ar%y legal correspondenc8, the Care I5CtOrate r8POrt and making enquir4es of management. We reviewed the laws and regulations in ar$8S that directly affect Ihe consolidated financial statements incluth.ng financial and lax8tion legff lalion and considered the extent of compliance with Ih05e laws re9ulations as part of our procedures on Ihe related fianCIal statement items. With the èxception of any known or possible noN.cOpllance with rplevanl and significant laws and regulations, and as re9uirèd by the auditing standards, our work in respect of these was Ilmsled to enquiry of the officers and management of the Charitable Company. We Communicated idenlified18W$ 8nd re9ulalions Ihroughoijl our team and remained alprl to any indications of non-complian¢e throtjghout the aijdit. Howevgr. the primary responsibility for the prevention and deleclion of frBud rosts with the Truslees. To address the risk of Iraud identified internal controls 8st8blished to identify risk. pgrformed analytical procedures lo idgntify unusual movements, assass&d any judgefnenls and assumptions made in determining 8¢COUllting esknmates. reviewgd iournal enlries for unu5U81 transactions and identified related partl85 Owing to the inherent limitatlons of an audit, Ihere is an unavoidable risk that we m8y not have detected some material ml$statemenls in the consdidaled fiTrancial statements, even though we have property planned and performed our audit in accord8nce with auditing standards. We are not responsible for prgventlng non- compliance and cannot be expected to delecl non-compliance with all laws and regulations. These inherent limitatio5 are particularty signfficant in thè case of misstalemeril resulting from fraud as Ihis may involv8 sophisticated schemes dgsignort to avoid detection, In¢luding deliberate failure lo record transactions, collusion or tho provisKJn of inlention81 misrepresentations. A further descripty.on of our rèsponsibilities for the eudil ol the consolEdated f1nancial statements is localed on the Financial Reporting Council's website at wkYw.frc.org.uklauditorsre$ponsibilities. This description forms part ol our Rewrt of Ihe Indendent AtJdito¥s. Other matters which we are r•qulrèd to addre5S We were engaged to audit Ihe financial statements of Queen's House (Kelsol L¥mited for the year ended 31 De¢embèr 2025. We were not engH9ed to audrt, nor did we audit, the financial stalements ol Queen's House IKelsol Limited for the year ended 31 December 2024. Those financial stsiÈmenls were audited by Sumer Audilco Limited who's report, d8teL1 29 July 2025, expressed gn unqualified opinion on Ihosp fi'nancial statements. Use of our report This report is made solely lo thf Charitable Cornpany's members, as a body, in accordance wth Chapter 3 of Part 16 ofthe Companies Act 2006, and to the Chartsble Company's Twstees, as a body. in accordance with RegUlatn 10 of the Charilies Accounts Iscotlandl Regulations 2006 and section 4411llcl of the cha¢18 and Trustees Invgstment Iscotlandl Act. Our audit work has been undertaken $0 that wa might state to the Charitable Company's member5 and the Tnjstees those matters we are required to state lo them in an audiiors, itrt and for no other purpose. To the fullest eent permitted by law. we do r1 accept or assum responsbilIty lo anyone other than the Charitable Company, the Trustee's and the Charitable Compan5 m8mkrs as a body, lor our audit work, for this report, or for thB opinsons we have formecl. Fiona E Haro) CA Isenior Statutory Auditor) lor and on bghalf of Thornson Cooper Eligible to act as an auditor in terms ol Section 1212 of the Companies Act 2006 3 Castle Court Dunlermling Fife KYI7 8PB 30th July 2026 Page 8
uton's Houstr Kg1s0 Limltthd Con601idated Statement of Flnanclal Activitie¥ for the èar endéd 31st Dècèmbèr 202S 2025 Total funds 2024 Total fvnds Unrèstrlct•d Restrlct•d funds lunds Notes Income and endowments from Donations and leg8¢ies 9.208 2.000 11,208 219,887 Charltable actlvlties ResKlentsal care 5,287,990 5.287,990 4.820.095 Oth8r tr2din9 3clivitBs Investment incorne 1,582 12.586 1,582 12,586 545 12,127 Total 5311366 5,313,366 5.052,654 Expfrndlture on Charltable activities Residents'al care 4,860,386 130.151 4,970,537 4,623,252 Other 37.387 37,387 40.312 Total 4.897,773 110,151 S,¢)D7.924 4,663,564 Net Sncomel{expendlture} Tran$f¢rs betwtr*n funds 413.593 1108,15qI 305,442 389,090 23 Net movem•nt In funds 418.985 1113,5431 305,442 389,090 Reeonclliatlon of fund$ Total funds brought forward 2,455,645 3,281,678 5,737,323 S,348,233 Total funds ¢arrl•d foThvard 2,874.630 3,168,135 6.042,765 5.737,323 Contlnuing operadons l inGome and expendilyr¢ has arisen from continuin9 aGttviti¢s. The notes form part ol these financial statements Page 9
8en's House Kel¥o Llm 8d t•m•nt of Flnan¢ial vltS08 31st December 2025 for the 2025 Total funds 2024 Total fundg Unrestrlcted Rè$trlct funds funds Note$ Ineome ?ndowmènts from Donations and lega¢ies 9.208 2.000 11,208 219,887 Charitsbl? activities Residential care 5,287,990 5.287,990 4,820,095 Other trading aclivil*es Investment income 1,582 12,586 1,582 12,586 545 12.127 Total 5.311,366 2,000 5,313,366 5.052.654 EXptIr• on Charltable activitles Residential care 5.004,892 57,991 5,062,883 4,677,888 Net incomel{gxp•ndlturel Transfèrs b•iw••n fund$ 306,474 5,392 155,9911 250.483 374,766 23 Net movement In funds 311,866 {61,3831 250,d83 374.766 Reconciliation of funds Total funds brought forward 2.327.593 3,556.522 5,884,115 5.509.349 Totsl funds carrled forward 2.639,459 3.495.139 6,134,598 5.884.115 Corrtlnulng operatlons All income and expenditure has arisen ITOM conlinLting actbvities. The notes form part of these financial slalements Page 10
ueen's Hou$ Kalso Llmbted R Isterod numbor.. SC539138 Consolidated Stat•ment of Financial PositSon 31st December 2025 Group 2025 Group 2024 Chaylty 2025 Charity 2024 Fixed •55ets T8ngible assets Investments 6.798,512 6,983,741 1.249,871 1,321.489 6.798,512 6.983,741 1,249.872 1,321.49Q Curr•nt ass•ts Slocks 16 Debtors., 8munls falling due within One year 17 Cash al bank 6,000 230,243 902.861 8,0 177,196 720,289 6,000 4.587,675 874,408 8,000 4,416,112 682,523 1.139,104 905.485 5,468,083 5,106,635 Crgdllors Amounts lalling due within one year 18 {801,6411 1891,4541 1583,3571 1544.0101 Net current assèts 337,463 14,031 4,884.726 4.562.625 Total asset5 le$5 Current liabllSti•s 7,135,975 6,997,772 6.134,598 5,884,115 Credltors Amoun15 falling due after ffl0 than one year 19 11,093.2101 11,260,449) Nèt asséts 6,042,765 5.737,323 6.134,598 5 884.115 Funds Unreslricled funds Restricted tunds 23 2.874.830 3,168,135 2,455,645 3 281.678 2,639,459 3.495,139 2,327,593 3,556,522 Thè Trustees have prepared group accounts in 8c(x)rdan¢e wlth Section 398 of the Companies Act 2006 and Section 44 of the Trusièes Investment (Scotlandl Act 2005. These consolidated financLal statemenls have been prepaied in accordance with Ihe speci81 provisions of Part 15 of the Companies Act 2006 r61ating to harilable small companies. The con501idated financial stslemonls were aPPToved by ihe Board of Trustee$ and authorised for issue on 30th July 2026 and were signed on its behalf by.. A S W Armstrong - Tru$190 I A SLJlh nd- Trustee The notes form part of IhesÉ financlal stat6ments Page 11
n's House Kelso Llmlt• Consolid• ad Statement ol Cash lows for the af ended 3 omber 2025 2025 2024 Notes Cash flows from operating activiti•s Cash generated from operations Intertrst paid Finan costs paid 621,757 183.3031 2,940 839,594 1122,341) Net cash provlded by operafjng activities 535,514 714,300 Cash flows from invtstlng actlyltles Purch89e ol tangible fixed asset$ Sale ol tangible fixed 88sets Interest receNed 122.403} 1178.262) 4.943 12,127 12,586 Net cash used in investing activityes 161.1921 Cash nows from flnanclng actlvities Loan repayments in year 343.1251 448.4241 Nel cash used in financing activitie5 343,1251 448,4241 Change In cash and eash •qulvalents In the reportlng porlod 182,572 104,684 Cash and ca$h oqulvalents al Ihe beginnlng of the reporting Tio 720,289 615,605 Cash and eash •qulvalents at the ènd of th• roportlng period 902.861 720 289 Tho notes form part of these financial slalements Page 12
uèén. Housè Llm •d Note5 to the Consolldatgd Ststgrnent of Cash Flows for the ear ended 31st Decembèr 2025 Reconclllatlon of n•t Incom to ¢a$h flow from opr•tlng octtvitie$ 2025 2024 Net income for the roporting porlod las yrth• Stat•m•nt of Financial Activitie51 Adjustmènts for: Depreciation charges Profit on dispos81 ol fixeil assets Interest received Interest paid Finance costs Decre85ellincreasel in stocks Increase in dÈbtor$ Increase in creditors 305,442 389,090 207,632 211,535 14,9431 112,1271 122.341 2,953 14,0001 127,2441 161,989 112,5861 83,303 2,940 2,000 153.047) 86.073 Net rash provlded by ap•ratlons 621.757 839,594 Analysls of changès In n•1 dèbt At1.1.25 Cash flow At 31.12.25 Net cash Cash at bank and in hand 720,289 182 572 902,861 720 289 182.572 902,861 Dèbt Debts fallin9 due wilhin 1 year Debts lalling due afttsr 1 year 1267,140} {1.260,449 175,886 167,239 191,2541 11.093,2101 (1 527,589 {1 184.464 Total 807.31X)I 525.697 281,603} The notes form part of these financial slatements Page 13
ueon's Ho K8150 Llmlt Notès to the Con$olid¥ted Flnancla tst•m•nts for th• èar ended 318t mber2025 Accounting policles Ba$ls of pr•parlng the consolldated flnancial statèment5 The financial statements of the Charitable Company, which is a public betlefil entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Ch81ities'. Statement of Recommended Practice applicable lo Charities preparing Iheir a¢¢ounts in accordance with the Financial Reporting Standard appli¢#Ue in Ihe UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,, Financial Reportlllg Standard 102 Thè Finarlcial Reporting Standard applicabte in the UK 8ntJ Republic of Ireland. and the CoPani¥S Act 2006. The financtal sialemenls have baen prepared under the historical cost convention. Group financlal statements The financial statements eonsolidale the re$ulis of Ihe Charitable Company its wholly owned subsidiary. Angraflat Development Company Limited, on a line by line basis. Incomo l income is recogni58d in the consolidated statement of fjnan¢ial actNities once Ihe Charitable Company has entitlement to the fvTriJs, it is probable that the income will be received and the arnounl can be measured reliably. Income from 9overnment and other 9ranls, whether 'caprtal' gTanls or 'revenue' grants, 1$ fe¢ryniz8d when the ChaTitable Company has enlitlement to the fund5, any performance cotKl%lions attached lo the grants have bèen met, it is probabl8 that the incomè will be re¢eiv&d and the amount ¢an b measured reliably and is nol deferred. Donatlons 3re recognised when the Charitable Cotllpany has been notlfied ITr writing of tx)th lh8 arnount and settlement date. In the event that a donation is subject lo condilions that require 3 level of P8rforman¢e before the Ch8rllable Company is enliued to the funds, the income is deferred and not recognised until eithef those conditiofts aro fully mel, or the fuifilment ol Ih05e Gonditions is wholly within the eonlrol of the ChaTilable Company and it is probable Ihat those condiliors will be luifilléd In the reporting peTlCY. Legacy gifts ale Tecognised on a case by case basi5 following the gTanting ol probate when the adminislratorlexecutorfor the estate has communicated in writing both the amount and settlement (late. In the event that the gift is in the form ol asset other than cash or a finanoial asset traded on Tecognised 5to¢k exchange. recconition is subject lo the value of the gift being reliably measurable wilh a degr&e of reasonable 8¢¢uracy and the title to the asset having been transferred lo the Charitable Company. Expenditure Liabilities are r*cognised a5 expendittsre as soon as there is a Segal or Gon5trvctive obligation commrttlng the Charitable Company to that expenditure, it is probable that 8 transfer of econgtnic benefits will be required in setuement and the amount of the obligation can be measured reliably. Expendlture is kCeOLJnled for on an accruals basis and hgs been classified under heading5 that aggregate all cost related lo the category. Where costs cannot be directly altributed to P8rti¢ular headings they have been allo¢atèd to activities on a bèsis consistent with the use of resour¢es. Grants offered Skjbject to condttions which have no)1 befjn mel al the year end date are noled a5 8 comrnilmenl bul not accrued as expenditure. Tangiblè flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its eslirnated useful lile.. Freehold property Fixtures, fitlin9s and equipmenl 150/D on ctsst, 10°/o on cost 2Q/o on cost 50¥0 on cost, 25°/0 on cost. 20¢k on cos1. 100kn on cosl and Slo on cost 25% on reducing balance Motor vehicles Tangible fixed asse15 are slated at cost less a¢¢umulated depreGialion and accumulatèd impainnent losses. Page 74 eonlintEed...
uè•n'5 Hous• Kèlso Llmlt•d NotOS to th• Consolldated Flnanclal Ststèm•nts- contlnued for Ihe ear ended 31st December 2025 Accountln9 pollcles - contlnued Tang5ble Ilxed assets A review for impaimienl of a tangible fixed asset is earrteil oul if events or changes in circumstsnces inclicale that the carying 3mount of the fixed asset may not be reVerable. whethèr through the econotnic benefits of use or throvgh disposal. stocks Stock is valued al cost and represents fLK)rJ and consum8bles that have nol boen vse¢J by the year en(J. Taxatlon The Charilable Company is exempt from coTratIon tax on Its d)arit3ble activitiés. The CharitaNe Company's subsl¥ry. Angiaflal Developmenl Company Limited, is not exempt from corporali()n lax. Taxation for the year comprises current and delerred tax. Tax is r*cognised in Ihe consdidaled statemeftt of financial activities. 8xeèpt to Ihe 8xtènt that it relaies to item$ recognised in olh8r comprehensive income OT directly in equity. Currenl or deferred taxation assels and liabilities are not dbcounted. Current tsx is reco9nlsed at the amount of tsx payable uslng the lax rates and 18ws Ihal have b6en enacted or substaT)Lively enacted by Ihe statemenl ol financial position d81e. Deferred tsx Deferred tax is recognised in respect of all tsming differences that have originated but not reversed al the $lalem¢nt ol financjal position dale. Timln9 Oifferencos arise from the Incluslon of Income ancl expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferd lax is measured usin9 tax lates and laws that havè bèèn Ènactèd or substrntively enacted by the year end and that are expected to apply to the reversal of the timing diffefence. Unrelieved tax losses and other deferred tax assets are recognised only to the extent thal11 is probable that they will bts recoveffjd ag8insl the reversal of defeed tsx liabilities OT Other lutUTe laxable profits. Fund accountlng Unrestricted funds can be used in accordancè with the ¢harr(8ble objectives al the discretion of the Trustee5. Restricted lunds can only be used for partictslor reslri¢led purposes within the objects of the Charliae Company. Restrictions arise when specified by the donor or when fund$ are raised lor particular restrictèd purposes. Further explanation of the nature and purpose ol eAeh fund 1$ ineltjded in the notes lo the financial ststements. Leaslng commitments Rentals paid under operating leases are charged lo the consolidated staternent of financial aclivilies on a straight line basis over the period of the lease. Donated goods and SOlC0S The cost of any donated goods and services are estimated with a corresponding entry grossing up onab.ons recsiv&d. Financial instruments The following assets and liabilities are classrfJe(J as financial instruments- trade debt0, trade creditors. accruals, bank103ns and other loans. Page 15 continued...
n's House Llmtted Notes to Ihe ConsolÉdat•d FlnaDcial Statèmonts- continu for the ear•ndèd 1st Decembèr 2 A¢countlng policie5 - ¢ontinu*d Flnancial lrtstruments - contlnuBd Bafik loans and other loans are recognised al transaction pllce and subsequently measured al amortised c05t using the effective interest rate. Trade debtors, trade creditors and accruals are measured al the undtscounted amount of the cash or other considera¢son expected to be paid or received. Finan¢iJl a$$$ls thal are measured al amortised cost are Assessed at the end of e8¢h reporting period for objective evidence of impairment. 11 objective evidence of impairment is found, an impairment loss IS fecognised in the consolidated slalement of financial activTrtie$. Pension costs and oth¥r post.retirement bènafits The Ch8rit8bk Company operates a defined contribution penslon scheme. Conlributions payable to the Charitable Company's pension scheme are charged to the oonsolidatad statement of financi81 activitios in the perK)d to which they relate. In¥è$tment$ lllvgstmenls are staled at ¢ost less accumulated impairment105se$. Going concern The Trustees have cons¢dered the Charilablg Company's financial positson for a pèriod of 12 mr>nths trom the date ol s¥Jning these consolidated financial ststemenls have reasonable expeciation that Ihe Charitable Company has adequate resou¥¢es to continue in operational existence for the loreseeable fvlure. Accordingly, they continue lo adopt the going concern basis in PTgparing these consolidated financial statements. Employèè benef Short temi employee benefits, including holiday pay, are recognised as an expense in thè consolidated Stalem8ftt of finoncial activitie5 in the perK•d in which they relate. Cash and cash equivalents Cash and cash equivalents compr15e cash on hand and rnoney held in bank accounts. F¥nan¢lal p¢rfornianc• of the Charltable Company The consolid8ted statèment of financial act¢vities inclijdes the resuFts of Ihe Charltsblè Company's wholly owned subsidiary which was eslablished to develop the new Demeniia Unit and now leases this to the Charitable Company. The summary financial perfomiance of the Charitable Company alone is.. 2025 2024 In¢oming resources 5,313,366 5,052.654 Expènditure on charitablè activities S,062,883 4,677.888 Net income 250,483 374,766 Total fijnds brought forward 5,884,115 5,509,349 Total funds carried forward 6,134,598 5.B84.115 Page 16 contlnugd...
u•on's House Ke150 Llmlted Notes to the Con$olldated FSnancSal Statements- contlnyed Èar •ndad 31st Dèe•mbèr 20 Flnanclal pertarnianee of the Charltsblè Company - ¢ontlnu•d Re resented b Unrestricted funds Rèstrictèd funds 2,639.459 3495.139 2,327,593 3 556 522 6,134.598 5.884,115 An9raflat Dovtlopment Company Limited The whDlly owned trading 5ubsidkgry, Angrafial Development Company Limlled, is incorporated in the United Ktngdom Icompany number SC5508911. Angrafl3t Devek>pment Company Limited 15 developing the new Dément18 Unit. The Charitable Company owns the entire share capital of 1 ordinary Sha of £1 each. A summary ol the Ir8ding results Is shown below. The summary finan¢ial perftsrman¢e of the subsidiary alone is.. 2025 2024 Incorrte 300,000 300,QIK) Total expenditure 207,653 Profil before taxation 92,347 54,636 Tax on profil {37,387) 140,3121 et profit for thè pwiod 54,960 14,324 Retained oarnings 81 b8ginnTrr¥J of year 96,7921 111,1161 Retained earnings at end ol year 41,832} 96.7921 The assets and liabilfÉie5 of Angrafl81 Development Company Limited were.. 2025 2024 Assets Liabilities 5,642,042 5,683.8731 5,750,208 5 846,9991 41.8311 96.791 Donations and lega¢l•s 2025 2024 Dot)ations Grants 6,302 4,4J6 197,334 22.553 11,208 219.887 Donations lotalled £6.30212024 £197,334) of which £6.30212024 £154.5871 was unrestricted and £Nil12024 - £42,7471 was rÈslrict8d. Grants lotslled £4,90612024 - £22,553) of which £2,90612024 - £7.0531 was unre5tllcted and ,00Q? {2024 - £15.500} was restrict¢d. Page 17 continued...
's House Kel$0 Li éd Notes to the Con for the alldat•d Financial Stat¥m•nts . eontlnued ear ended 31st D mber 2025 Donalions and legacie5 . ¢ontlnued Grants received, included in the above, are as follows: 2025 2024 Student Awards Agency Scouand SBC Sl James, Place Border5 Community Aclon 2,906 7,053 5,000 2.500 8.000 2,000 22,553 Oth9r tradlng ?ctlvitltr$ 2025 2024 Fundraising events 1,582 545 All fundraising events rela18 to the unrestricted lund. Inv•stment Income 2025 2024 Deposit account interest 12,586 12,127 All inveslmenl income relates lo the unreslricted fund. Ineome from charitable ¥rtlvi11gS 2025 2024 A¢tlvlty Residential care Residential care Residents fees Sundry income 5.261,101 26,889 4,786,486 33.609 5,287,990 4,820,095 All income from charitable activities relate lo the unrestrictgd hjnd. Charltable activitièy ¢o$ts Direct C95ts1s?e note 91 Support costs (see not? 101 Totals ResKlenli81 care 4,906,226 64.311 4,970,537 Ch8ritable a¢tivilies costs lolalled £4,970,537 of which £4.860,386 was tknr9Stricted and £110,151 was restrided. Page 18 continued...
ueon's Housg Kolso Llmbt•d Note5 to the Consolidated Flnanclal Statém•nt$- eontlnu for Èar Onded 31st December 202S Dlr•¢t co¥1$ of charitable activltie5 2025 2024 Staff costs Other operating leases Ratss and water Insuran¢e Light and heal Telephone Repairs and renewals Advertising, postagè and stationery Sundries Staff training 3,847,257 2,688 18,005 42,362 99.956 9,389 152,625 17,8B9 15,146 7.776 3.478,099 2,160 14,998 38,478 125,858 9,801 170,811 10,926 4.669 15,gTI k 11 Garden upkeep Laun(Jry Annual iegi51ration fee Professional fees Food suppliès Resident activities Computer costs Travel and subslstence ConsLsmable supplies Molor vehicle expenses Depreciation Interest payable and similar char9èS 18,731 21.652 9,310 54.008 198.319 3,974 28,537 1,489 60,711 2,527 207,632 86,243 13,305 19,378 9,299 33.800 182,023 4.489 25,061 779 61.202 2,639 211,535 125.294 4.906.226 4,560,581 Dlrect costs of charitable activitie5 totalled £4,906,22612D24- £4.560,581 I of which £4,796,07512024 £4.465,2521 was unrestrictèd and £110,151 12024 - £95,329> was restri¢lgd. 10. Support costs SLtpport costs. 4nclud&d in the above, are a5 follow5.. 2025 2024 Auditors. remuneration Secretarial f8ÈS 17,856 46,455 13,172 49.499 64,311 62,671 All SLtpport StS relate lo the unreslricled fund. 11. Net IncomellexpendEiurel Net incomollexp8n(Siturel is $1818d after charging1{cr8dilingl'. 2025 2024 Aud¢tors' remuneratb)n Depreciation - owned 8s$et$ Other operating leases 17,856 207,632 13,172 211,535 2,160 Pagè 19 Ct)ntinued...
House Kelso Llmltèd Notes to the Consg1-dat8d Financi •m•nts- contlnued or tho ar end 1 t December 2025 12. Tstee5. rFmyneratlon and bènefits There were no Trustees. remuneration or other benefits for the year ended 31st December 2025 norfDr the year 8nded 31st December 2024. Trustee$, exnseS During the year expenses 01 £10412024- £NILI were pAid to Ihe Trustees. 13. Staff costs 2025 2024 Gross salaries Social security costs Pension cosis 3,322,704 347.166 177.387 3,074,619 249,018 154,462 3,847,257 3,478 099 2025 136 2024 135 The average number of employetss during the year was as follows.. The Company contributes lo pelsonal pensK>n plans ol employees. C¢)ntribulions are charged lo the statement ol financial activitles as Ihey fall due. The c051 during the year amountod lo £177,387 {2024 - £154,4621. Thg aggiggate employee benefits lor three kèy management personnel for the year end8d 31st Dernber 2025 amounted to £184,29812024- £166,679). 14. C¢mparatlves for the stat¢ment of finan¢lal a¢tlvltSes Unrestrlcttd R•strlct•d funds funds Total fund$ Incgme and endowments from Donations and legacies 161,640 58,247 219,887 Charltable aclivitigs Residential care 4,820.095 4.820.095 Other Ir8ding activities Investfflvnt income 315 72,127 230 545 12,127 Total 4 994.177 58,477 5,052,654 Expenditure on Charltat)le actlvltles Residential care 4,527.923 95.329 4.623.252 Oth8r 40.312 40,312 Total 4.568.235 95.329 4.663,564 Net in¢¢mèllèxpenditur•l 425,942 136.8521 389,090 Page 20 ¢ontinu8d...
u8on's Hotssè Kélso Llmitod Notes to the Consolidat•d Flnanclal Statèmènts - continued for the ear ended 31st December 2025 14. Comparatives for the statement of financlal a¢tlvltlps- ¢ontlnu¥d Unrestrlcted R¢$trl¢ted funds funds Total funds Net incomellttxpenditurel- from prevlous page 425.942 136.852) 389.090 Reconclllatlon of lunds Total funds bT(yJghl forward 2,029.703 3,318,530 5.348,233 Total funds earrled lorward 2,455 645 3,281,678 5.737,323 15. Tangible fixed assets Group Flxtur¥$. flttSngs and equipment Freehold Pfoperty Motor vehl¢les Totals Cost Al 1st January 2025 Additions 7,876.761 9,112 641,157 13,291 42,234 8,560,152 22,403 At 31st D8c&mr 2025 7 885 873 42.234 8,582,555 Dèpr•clatlon Al 1st January 2025 Charge for year 1.209,210 146 737 361,042 51,876 6,159 9.019 1,576,411 207,632 Al 31st December 2025 1,355,947 412,918 Net book value At 31st December 2025 6,529,926 241.530 27,056 6.798.512 A(31sl December 2024 6.667.551 280,115 36.075 6,983,741 Included in freehold property is freehold land of £233,91312024 - £233,913) whh is not depreciat&l. Thg a99regate Amount of fiftan¢e ¢iJsts ¢8Prt8&sed In freehold property is £43.06812024 - £43,068). Page 21 continued.
Hous• Kelso Not•s to the Con39lidatèd Flnancial Statem•nts - contlnuod aren ed 31st D8eember 2025 15. Tangible fix¢d assets- continued Charlty Fixtur•$, fittln98 and equlpment Fmhold property Motor vehicles Totals Cost Al 1st January 2025 Addith)ns 1,724.91 S 9,112 465.429 13.291 42,234 2,232.578 22.403 At 31sl December 2025 1,734,027 478.720 2,254,981 Depreclatlon At 1st January 2025 Charge for year 647,017 50,700 257,913 34.302 6,159 9,019 911,089 94.021 Al 31$1 December 2025 697717 292,215 15.178 1,005,110 Net book value At 31st December 2025 1,036,310 186,505 27.056 1.249.871 Al 31st December 2024 1,077.898 207,516 36,075 1.321,489 16. Stocks Group 2025 Group 2024 Charity 2025 Charlty 2024 Stocks 6.000 8,000 6.000 8,000 17. Dèbtors: amounts falllng duè wlthSn one yeor Group 2025 Group 2024 Charlty 2025 Charity 2024 Amounts lalling due wrthin one year.. Trade debtors Amounts owed by group undertakings Other debtors Due by Communities Connected Iscollandl Lld VAT PrepayThents 171,125 128.568 171.125 128.568 4,182,762 3,884 4,049.489 6,432 3.884 6,432 5,235 190 36,771 5,235 220 55.014 229,904 226.388 230,243 177,196 4.587,675 4,416.112 Page 22 conlinuecs...
•n' Kel Llmltgd Notes to th• Consolldat•d Flnanclal Stat•m•nts - continued for the ar ended 31st Dè¢Èmber 2025 18. Cr•dEtors: amounts falllng due wlthln ont year GfOUP 2025 Group 2024 Charlty 2025 Charfty 2024 Bank loans and overdrafts Isee note 20} Tradè Creditors Deferred tax Social seGur¢ty and other taxes Pension Contributions A¢¢wed expenses 91,254 89,270 116,811 70,976 22.450 410,880 267.140 66.872 79.424 61,677 21,498 394,843 8,550 65.731 87.949 70.976 22,450 401,982 61,677 21,498 386.554 801,641 891,454 583.357 544,010 19. CT•ditors.' amounts lalling due after more than onè year Group 2025 Group 2024 Char 2025 Charlty 2024 Bank108fts (sèe notè 201 1,093,210 1,260.449 20. Loans An 8nalysis ot the m8liJrtty of108ns is given below.. Group 2025 Group 2024 Charity 2025 Ch#rity 2024 Amounts falling due wthin one year on demand.. B8nk loans 91,254 267,140 8,550 Amounls falling due between and fi've yeafs.. Bank loans - 2-5 year8 422,170 394,362 Amounts18lling due in more than five years.. Repayable by instalments.. Bank loans more 5 yr by instal 671.040 866,087 Page 23 continued...
n's Houso K•lso Llmlted Notes to the Conso Ids •d Flnancial Stat•m - contlnued for the ear ende ecèmber 2025 21. Le8$ing agrgemonts Minimum ltrase payments under non-cancellable operaling leases f811 due as follows.'- Group 202S Group 2024 Charlty 2025 Charlty 2024 Wllhin one year Beeen one 8nd fiv6 yèars In more than five years 2.880 10.800 302.880 1,210,800 3,J0,000 300.OtKI 1,200,000 4.200.000 13,680 5.413,680 5.700 000 22. Sacur•d dobts Thè following secured debts are included wilhin ¢redilors'. Group 2025 Group 2024 Charity 2025 Charfty 2QZ4 Bank loans 1,184,464 1,527.589 8,550 One bank loan is secured by 8 standard secuflty over the property together with a bond and floating harge ovBr the Ch8rilablg Company assets gen8rally. Thg Royal Bank of Scotland PIC hokjs security over an area of land owned by the Charitable Cornpany and by way ol 8 floating ¢h8rge over the property. 23. Movem•nt in lunds Nel movement In funds Transfers between funds At 31.12.25 Al 1.1.25 Unr•strlct•d funds General fund Devélopment project fund Donations lor specific spends fund 2,267,802 150,0(K) 37,843 419.430 5,392 2,692,624 150,000 32.006 5.8371 2,455,645 413.593 5.392 2.874,630 Restri¢t*d funds Staff fund Property fund Equipmgnt fund Community SL¢PPQrt fund Care fund 7.342 3,173,809 76.160 4,802 19.565 12,7241 176,2911 113,3911 14,8021 10.9431 4.618 3.097.518 62,769 3,230 3 281.678 108 1511 5,392 3 168 135 Total funds 5,737 323 305,442 6.042,765 Page 24 conlinu8d...
ueen'$ Ho Notes to the Consolidaled Flnancial Statements - contlnued d 31st Dècembér 2025 23. Movement In funds - contlnued Net movement in funds, inclLtded in the above are as lollows= In¢¢xnÉng resources Re50urcK Movement èxpendèd in funds Unrestrlcted funds Ganeral fund Donations for specifi¢ spends lund 5,309.619 1.747 14,890, 1891 7,5841 419.430 5,311,366 14.897.773} 413,593 R•$trldfrd funds Staff fund Propèrty fund Equipment fund Communty suppixt fund Care fund 12.7241 178,2911 (13,3911 14,8021 12.7241 176.2911 (13,3911 14,8021 10,9431 2.000 2.000 110,1511 108,1511 Total funds 5,313,366 5,007,924> 305,442 Comparativè$ for movtmont Én fvnd$ N•t movemènt in funds At 31.12.24 At 1.1.24 ilnrostrlctèd funds General fund Development pioje¢t fund Donations for specific spends fLFnd 1.963.282 304,520 150,000 28.5781 2,267,802 150.000 37,843 2,029.703 425.942 2,455,645 Restricted funds Stsff fund Property fund Equipment lund Community support f4Jnd C8re fund 11,032 3,247.864 45.200 2,250 12.184 13,6901 174.0551 30,960 2,552 7,381 7.342 3.173,809 76,160 4,802 19.565 3,31B,530 36,8S2 3.281.678 Total funds 5,348,233 389.090 5,737,323 Page 25 continued..
ueon's Housg Kglso L5mlted Not•s to the Consoli clal Statements- ¢ontlnued ear ended 31st Decemb•r 025 23. Mov¢mènt In lund5 . continued Cornparalive net movement in funds. in¢ltKJeiJ in the above are as follows.. Incoming r¢$ources Re$ources expendtrd Movement In funds Unrestri¢t¢d fvnds General fund Developmenl projgct fund Dortalions for specifi¢ $p8nds lund 4.843.574 150,0Th) 603 14,539,054) 304.520 150.000 28,5781 29,1811 4,994,177 14,568,235) 425.942 Re5trScted funds Staff fund Property luncs Equiptnent fund Community support fund Care fund 40 2,500 42.937 5.000 8,000 13,730) {76,5551 {11,9771 12,4481 6191 13,6901 174,0551 30,960 2,552 7.381 58.477 95,329 36,852 Total funds 389,090 The baL9nce on reslrfcted funds al 31st December 2025 is made up as follows.. Developmtnt proS•ct fund- this fund is an unrestricted designaigd lund which arose from a donat50n received. The lund balance has been designated to a capital project that is hoped will Commen in 2026. The fund is reprès8nted by cash al the bank. Donatlons for speclfi¢ $p¢nds fund - this fund arose from fvndraising events whicth has been designated lor activities, smèll equipmenl and capital expenditure. The fijnd is represented by tsngible fixed assets. Stsff fund - This tund arose Irom various donations and grants feceived and 15 uspij to pur¢hase treats for stsff members. This fund is represeryted by cash at bank. Property fund - This fvnd ar05e from various ijonations and grants rts¢dved from organi5alions and individuals and is use(* to fund various improvements to the property and grounds. Some of the depreci81ion on property held in the subsidiary is reslricted on consolidation as it relaies to restricted income received to build Murray House and Evanlhea House. This lund is Tepresenled by cash at Ihe bank and tangible ftxed assets. Equipment fund - This fund arose from various donations and grants from organisations and individuals and is used to fund the purchase of new equipment to be used by the Charitable Comp8ny. This fund is represenle(J by ¢ash at th& bank. debtors and tangible fixed assel5. CommL¢nlty support fund This fund arose from grants from Scottish Borders CL)uncil. The fund Ss used to support events and 8ctivities lor Ihe local ¢ommunily. This fund is represented by cash at Ihe bank. Care lund - This fund arose from fundraising, donations received gnd grants received. This fund is used to further support our T8si¢Jenls, both existing and new, along Wlth their famili&$ and friènds. This fund is represented by cash at bank and tangible fixed assets. Page 26 Continued...
uoen's Hou$9 Kelso Limited Notgs to the Cons for the Ildat Flnancial Statements - contlnued ear ended 31st December 24. Rel¥ted party disclosures sactions with sub iaries Ch8ritsble Com an onl Angraflal Development Company Limited is a fL>lly own8d subsidiary ol Queen's House IKelsol L4mited. During the year Queen's House IKelsol Limited paid for goods and servic*$ totalling £173 (2024 £11.6671 on behalf of Anoraflal Development Company Limited. During the year aueen's House IKeL801 Limited paid rent of £300.00012024 - £300,000) to Angr8fl31 Developmenl Company Limited. Al 31st December 2025 Aftgraftai Development Company Limited w&ie due Queen'5 HoLtse (Kelsol Limited £4.182,762 12024 £4,049,4891- This loan is unsecured, interest free and is repayable on demand. Transa tions wtlh olhei related riles Charitable Com an ond Grou During the year unconditsonal dofialions received from Truslees and related parties amunted lo £30 12024- £175). Dvrino the year Queen's House IKelsol Limtted paid for goods and servic05 totalling £348 12024 £5,235) on behalf of Cc>mmunrties Connected IS¢otlandl Ltd. At 3151 Llecember 2025 Communilies Connected (Scotland) Ltd were due Queen'5 House (Kelsol Limited £NIL12024 - £5,235). Page 27