Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 **GRAMPIAN HOSPITALS ART TRUST SCIO REGISTERED CHARITY NO: SC016910** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** **Charity number** SC016910 **Principal address** Art Office Aberdeen Royal Infirmary Cornhill Road Aberdeen AB25 2ZN **Independent Examiners** Hall Morrice LLP 6 & 7 Queens Terrace Aberdeen AB10 1XL **Bankers** Bank of Scotland PO Box 1000 BX2 1LB **Solicitors** Raeburn Christie Clark & Wallace 12-16 Albyn Place Aberdeen AB10 1PS Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** |Trustees’ Report
Independent Examiner’s Report
Statement of Financial Activities
Balance Sheet
Notes to the Accounts|**CONTENTS**
**Page**
1-4
5
6
7
8-17| |---|---| Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025** The trustees present their report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the charity’s Trust Constitution, The Charities and Trustee Investment (Scotland) Act 2005, The Charities Accounts (Scotland) Regulations 2006 (as amended) and the Statement of Recommended Practice, “Accounting and Reporting by Charities”, issued in 2015. ## **Objectives and activities** The Trust was established as a charitable organisation to enhance the experience and wellbeing of all who spend time in NHS Grampian premises, whether patients, staff or visitors. The organisation seeks to achieve this by promoting enjoyment of, and when possible participation in, high quality artistic activity and the provision of a sympathetic and pleasing visual environment. The main sources of income of the Trust are grants from NHS Grampian, NHS Grampian Endowments Fund and trusts/foundations towards the salaries of the Trust’s employees and to deliver arts projects across NHS Grampian facilities. The Trust also raises funds through events, ad hoc donations and income from the sale of some of their artworks at in-house exhibitions. Expenditure comprises mainly salaries of the staff, costs associated with holding exhibitions, assisting NHS Grampian with arts within capital projects and delivering patient centred arts sessions, together with administrative expenses. In accordance with the Trust Constitution, the trustees have the power to make any investments they see fit. ## **Achievements and performance and plans for the future** ## Programme growth and reach Demand for GHAT’s arts and wellbeing programmes continued to grow through 2024–25, with increasing engagement across clinical and community settings. The Artroom activity remained highly popular, offering person-centred arts and wellbeing sessions for patients on NHS Grampian wards and extending into new community venues. A significant partnership with Aberdeen Art Gallery and Aberdeen Archives Galleries and Museums created a community strand that supports continuity of care, enabling people who first access Artroom as inpatients to continue benefiting from creative support after discharge. ## Collections, placements and exhibitions Demands on the GHAT collections team rose steadily, reflecting a growing appetite to enhance clinical environments with original artworks. The team responded by installing new works in wards, corridors and communal spaces, broadening the visual offer across north-east healthcare sites. The projects team developed exhibitions for GHAT gallery spaces and collaborated with NHS Grampian to curate art interventions that improve patient and staff experience. The Suttie Arts Space at Aberdeen Royal Infirmary celebrated its 10th anniversary during the year, highlighting a decade of sustained impact in embedding art within a major hospital setting. This has been achieved from GHAT’s dedicated staff numbering 21 during 2024/2025, many of whom are artists. Alongside these staff GHAT supported 4 Gray’s School of Art undergraduates with work opportunity and experience as part of their studies and vital to ensuring a strong artistic community in the North East of Scotland -1- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## Funding and strategic investment Late 2024 saw the announcement of successful multi-year funding awards from Creative Scotland and Aberdeen City Council, securing a stable income stream from April 2025 for the following three years. In parallel, GHAT was awarded National Lottery Heritage Fund support to rationalise the collection and develop fresh interpretation methods that make the artworks more accessible and engaging for diverse audiences. These core grants, together with several smaller awards, substantially complement the organisation’s service level agreement with NHS Grampian and ongoing support from NHS Grampian Charity, strengthening GHAT’s financial resilience and capacity to deliver and expand services. ## Financial position and next steps GHAT enters 2025 from a position of financial strength. Its new business plan sets out a sustainable framework to consolidate current programmes through to 2028 while beginning a careful, measured expansion across the north-east beyond the Aberdeen Royal Infirmary footprint. Priority actions include widening geographic access to Artroom sessions, increasing the presence of the collection in clinical and community settings, improving interpretation and audience access, and deepening partnerships with cultural and health-sector stakeholders. ## Outlook With robust funding, growing demand and established partnerships, GHAT is well placed to maintain high-quality, person-centred arts and wellbeing provision while extending reach across the region. The organisation will continue to prioritise continuity of creative support for people transitioning from hospital to community, thoughtful stewardship of the collection and inclusive programmes that connect hospitals, galleries and communities. ## **Financial review** The Trust is showing a deficit for the year of £51,062 (2024 – surplus £91,675), before revaluation of fixed assets, of which £38,744 relates to a deficit of restricted reserve funds where brought forward funds have been utilised on projects for specified purposes as specified by the donors. ## **Reserves Policy** The Art Collection is considered to be an asset that is essential to the Trust’s ability to deliver its aims. Alongside its monetary assets, the Trust therefore maintains a designated reserve equal to the value of the Art Collection. It is the policy of the Trust to maintain a general unrestricted reserve at a level sufficient to meet planned expenditure requirements, the Trust has maintained unrestricted reserves at three months funding of core annual expenditure. Ideally the Trustees would like to increase this to six months funding of core expenditure to enhance the charity’s resilience. -2- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Structure, governance and management** Grampian Hospitals Art Trust (GHAT) is a trust which is governed by its Trust Constitution which was established in 1990. It is a recognised Scottish charity (SC016910). The trustees who served during the period were: (Appointed 5 September 2024) (Appointed 5 December 2024) (Appointed 5 December 2024) The Trust is administered by its Board of Trustees. The trustees are elected only by approval of the other trustees and may be removed from office on the resolution of the remaining trustees. The trustees elect (from among themselves) a Convener and a Treasurer. A member of the Board or of GHAT staff may be appointed as Secretary. Induction and training of trustees is viewed as an ongoing process. The Board have reviewed and discussed the Accounting and Reporting by Charities: Statement of Recommended Practice and have developed actions based on its recommendations. The Board of Trustees meet four times a year to administer the activities of the Trust. The trustees have the power to appoint employees, solicitors, accountants and other professional advisors as well as being able to establish committees from their own number to undertake specific projects. The day to day running of the Trust is undertaken by Sally Thomson, Executive Director. The trustees have reviewed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. -3 Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Statement of trustees’ responsibilities** The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the Charities SORP (FRS 102); - Make judgement and estimates that are reasonable and prudent; - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees have prepared this report in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ and in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended). On behalf of the board of trustees. Trustee 10 December 2025 -4 Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF GRAMPIAN HOSPITALS ART TRUST** I report on the accounts of the charity for the year ended 31 March 2025 which are set out on pages 6 to 17. ## **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 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 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the 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 the course of my examination, no matter has come to my attention: - 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 comply with Regulation 8 of the 2006 Accounts Regulations. - to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. On behalf of Hall Morrice LLP Chartered Accountants Aberdeen 9 December 2025 -5 Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025** |**Notes**
**Income and endowments from:**
Donations and legacies
**2**
Investment income
**3**
Other trading activities
**Total income**
**Expenditure on:**
Raising funds
**4**
Charitable activities
**5**
**Total resources expenditure**
**Net (outgoing)/incoming resources**
**before transfers**
Gross transfers between funds
**Net (expenditure)/income for the year**
**Net movement in funds**
Fund balances as at 1 April 2024
**Fund balances at 31 March 2025**|**Unrestricted**
**funds**
**£**
270,091
2,760
398
273,249
2,977
279,812
282,789
(9,540)
(2,778)
(12,318)
831,804
819,486|**Restricted**
**funds**
**£**
188,414
-
-
188,414
19,290
210,646
229,936
(41,522)
2,778
(38,744)
314,066
275,322|**Total**
**2025**
**£**
458,505
2,760
398
461,663
22,267
490,458
512,725
(51,062)
-
(51,062)
1,145,870
1,094,808|**Total**
**2024**
**£**
559,320
955
-
560,275
20,669
447,931
468,600
91,675
-
91,675
1,054,195
1,145,870| |---|---|---|---|---| -6 tk)cusuJn Enveky ID. gE￿2Q￿.1BAl4647￿BB24X}AE8￿2Fg3l3 GRAMPIAN HOSPITALS ART TRUST SCIO BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 794.037 794,958 Current assets Debt￿$ 10 1,454 311016 312.470 1,414 363 957 365.371 Cash at bank and in hand Creditors.. amounts falling due wilhin one year Net current assets 11 350 912 Net assets ReseThes Restricted funds 12 275,322 314,066 831804 Unrestricted funds 13 Total Funds The financial statements were authorised for issue and approved by the Board on 4 December 2025 rus ee Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **1 Accounting policies** ## **1.1 Basis of preparation** The financial statements have been prepared under the historical cost convention modified by the revaluation of artwork, with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity constitutes 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 these financial statement are round to the nearest £. ## **1.2 Going concern** The charity has adequate resources and is well placed to manage future risks. The charity’s planning process, including financial projections, has taken into consideration the current economic climate and its potential impact on the various sources of income and planned expenditure. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees believe that there are no material uncertainties that call into doubt the charity’s ability to continue. The financial statements have therefore been prepared on the basis that the charity is a going concern. ## **1.3 Incoming resources** Income is included in incoming resources when receivable, except as follows: - when donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods; - when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use have been met; - gifts in kind are included in donations at the charity’s best estimate of value. Voluntary income includes grants which provide the core funding for the charity and donations. Other trading activities represents the income of commission on sales of paintings from in-house exhibitions, income from sales of CD’s of the exhibitions and project management fees. Investment income represents interest entitlements accounted for as they accrue. ## **1.4 Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Costs of charitable activities comprises the costs associated with the charity’s principal activities and are accounted for when payable. Governance costs are included in charitable activities and represents expenditure associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. Staff salaries and expenditure relating to specific projects are allocated directly against the income for that project. In addition where a project allows the proportion of general overhead costs relating to that project are also allocated against the income. -8 - Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **1.5 Tangible fixed assets and depreciation** Individual items of equipment or computers costing £50 or more are capitalised at cost. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Computer equipment 25% reducing balance Fixtures, fittings and equipment 20% reducing balance Artworks are initially capitalised at cost with any increase or decrease in valuation, as assessed by an experienced art administrator employed by the Trust, adjusted for as required. Most of the artwork is appreciating in value so standard depreciation policies are not applied. Instead items are individually assessed and increased or reduced in value as appropriate. Any increase or decrease in valuation at the year end is included in the Statement of Financial Activities. ## **1.6 Accumulated funds** Funds held by the Trust are: Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Restricted funds – these are funds which have restrictions imposed by the donors and can only be applied for the particular purposes specified by the donors. ## **1.7 Debtors** Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. ## **1.8 Creditors** Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount. ## **1.9 Value added tax** The charity is not VAT registered and as a result all VAT on expenditure is irrecoverable, therefore it is included in the relevant expense or asset cost as appropriate. ## **1.10 Cash at bank and in hand** Cast at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.11 Employee benefits** The cost of short term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. -9- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **2 Donations and legacies** |Donations and gifts
Grants receivable for core activities
**Donations and gifts**
Unrestricted funds:
Individual/corporate sundry donations
Restricted funds:
Individual/corporate sundry donations
**Grants receivable for core activities**
Unrestricted funds:
Friends of Roxburghe House
NHS
NHSG Endowments
IDJ Properties
Financial Plan
Restricted funds:
Turcan Connell
Impact Funding Partners
Aberdeen Council of Voluntary
Organisations (ACVO)
The Morningfield Association Aberdeen
NHSG Endowments
Creative Scotland
Culture & Business
Friends of Roxburghe House
The Archie Foundation
The Foyle Foundation
NHS
Financial Plan
Aberdeen City Council
The Migraine Trust
National Lottery Heritage Fund (NHLF)|**Unrestricted**
**funds**
**£**
36,991
233,100
270,091|**Restricted**
**funds**
**£**
5,180
183,234
188,414||**Total 2025**
**£**
42,171
416,334
458,505
36,991
5,180
19,900
169,700
41,500
-
2,000
233,100
-
23,862
15,000
-
31,958
42,383
-
30,965
-
-
2,884
2,000
4,000
1,250
28,932
183,234||**Total 2024**
**£**
15,836
543,484
559,320
9,836
6,000
19,146
138,658
42,933
25,000
-| |---|---|---|---|---|---|---| |||||||225,737
7,000
15,575
14,565
3,000
165,245
37,500
6,332
30,530
10,000
28,000
-
-
-
-
-
317,747| -10- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **3 Investment income** |Interest receivable|**2025**
**£**
2,760|**2024**
**£**
955| |---|---|---| All investment income was attributable to Unrestricted funds. ## **4 Costs of generating funds** |Event costs
Fundraising and marketing co-
ordinator|2,977
**Unrestricted**
**funds**
**£**
2,410
567|19,290

**Restricted**
**funds**
**£**
19,290
-|22,267

**Total**
**2025**
**£**
21,700
567|**Total**
**2024**
**£**
17,887
2,782| |---|---|---|---|---| |||||20,669| In 2024, £17,614 was attributable to Restricted funds and £3,055 to Unrestricted funds. ## **5 Charitable activities** |**Activities undertaken directly:**
Staff costs
Project costs
Travel, subsistence and
entertainment
Printing, postage and stationery
Volunteer costs
Insurance
Training costs
Gain on disposal of assets
**Support costs:**
Depreciation
**Governance costs:**
Accountancy
Independent examiner’s costs|**Unrestricted**
**funds**
**£**
250,079
2,390
587
5,760
1,349
2,627
298
(705)
1,626
12,300
3,501
279,812|**Restricted**
**funds**
**£**
161,975
38,874
1,982
7,002
455
-
358
-
-
-
-
210,646|**Total**
**2025**
**£**
412,054
41,264
2,569
12,762
1,804
2,627
656
(705)
1,626
12,300
3,501
490,458|**Total**
**2024**
**£**
338,710
85,290
4,223
5,813
1,281
2,480
-
2,818
4,380
2,936
447,931| |---|---|---|---|---| -11- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** In 2024, £234,437 was attributable to Restricted funds and £213,494 to Unrestricted funds. ## **6 Trustees** None of the trustees (or any persons connected with them) received remuneration from the charity and none of the trustees are paid any expenses for attending board meetings. ## **7 Independent examiner’s remuneration** The independent examiner’s remuneration constituted an independent exam fee of £4,020 (2024 – Audit fee £9,600). ## **8 Employees** |Number of employees
The average monthly number of employees
during the year was:
Management
Artists
**Employment costs**
Wages and salaries
Social security costs
Pension costs|**2025**
**Number**
3
18
21
£
393,533
13,654
4,867
412,054|**2024**
**Number**
3
14| |---|---|---| |||17| |||£
326,011
8,932
3,767| |||333,710| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 and in the band of £70,001 - £80,000 was 1 (2024 - 1). The total employee benefits of the key management personnel of the charity were £176,518 (2024 - £148,521). -12- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **9 Tangible fixed assets** |**Cost**
At 1 April 2024
Additions
Disposals
Revaluation
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
Disposals
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024|**Artworks &**
**sculptures**
**£**
788,237
705
-
-
788,942
-
-
-
788,942
788,237|**Computer**
**equipment**
**£**
26,943
-
-
-
26,943
21,275
1,416
22,691
4,252
5,668|**Fixtures,**
**fittings &**
**equipment**
**£**
6,516
-
-
-
6,516
5,463
210
5,673
843
1,053|**Total**
**£**
821,696
705
-
-| |---|---|---|---|---| |||||822,401| |||||26,738
1,626| |||||28,364| |||||794,037| |||||794,958| The database of artworks and sculptures is subject to an annual revaluation by an experienced art administrator and the trustees believe that the value in the financial statements is reasonable. All fixed assets relate to unrestricted funds. -13- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** |**10 Debtors**
Prepayments and accrued income|**2025**
**£**
1,454
1,454|**2024**
**£**
1,414
1,414| |---|---|---| In 2025, £nil (2024 - £nil) of Debtors related to Restricted funds. ## **11 Creditors: amounts falling due within one year** |Trade creditors
Other taxation and social security
Other creditors
Accruals|**2025**
**£**
615
4,663
1,371
5,050
11,699|**2024**
**£**
7,222
2,521
-
4,716
14,459| |---|---|---| In 2025, £2,238 (2024 - £4,301) of Creditors related to Restricted funds. -14- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **12 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held in trust for specific purposes: |Outreach
Artroom Roxburghe
Exhibition Programming
NHSG Projects
Health Village
Artroom Young People
Heritage & Collection
Artroom Transition AAGM
Amplify
Artroom Specialist Rehab
Artroom Mental Health
Artroom Clinics
NHS Baird and Anchor
Co-Create
SIAL Impact
Outreach
Artroom Roxburghe
Exhibition Programming
NHSG Projects
Artroom Cornhill
Health Village
Artroom Young People
Heritage & Collection
Artroom Transition AAGM
Amplify
Artroom Specialist Rehab
Artroom Mental Health
Artroom Clinics
NHS Baird and Anchor
Co-Create
SIAL Impact|**Balance at**
**1 April**
**2024**
-
5,666
61,324
1,172
1,080
12,725
126
12,245
4,957
7,574
11,493
3,459
171,079
21,166
-
314,066
**Balance at**
**1 April**
**2023**
8,502
7,020
10,000
1,172
794
1,080
6,366
9,144
-
9,078
7,967
24,346
10,848
109,331
34,988
-
240,636|**Incoming**
**resources**
-
30,965
4,100
-
-
17,000
71,315
15,000
80
16,958
-
6,250
2,884
-
23,862
188,414
**Incoming**
**resources**
(9,700)
30,530
65,500
-
-
-
27,675
6,332
14,565
(300)
11,000
-
5,000
157,570
-
15,575
323,747|**Resources**
**expended**
-
(29,026)
(51,116)
-
-
(32,466)
(24,434)
(13,731)
(5,074)
(12,747)
(5,057)
(8,536)
(10,614)
(13,781)
(23,354)
(229,936)
**Resources**
**expended**
-
(31,884)
(14,176)
-
-
-
(21,316)
(15,350)
(2,320)
(3,821)
(11,393)
(12,853)
(12,389)
(95,822)
(13,822)
(16,905)
(252,051)|**Transfers**
-
-
-
-
-
2,741
-
-
37
-
-
-
-
-
-
2,778
**Transfers**
1,198
-
-
-
(794)
-
-
-
-
-
-
-
-
-
-
1,330
1,734|**Balance at**
**31 March**
**2025**
-
7,605
14,308
1,172
1,080
-
47,007
13,514
-
11,785
6,436
1,173
163,349
7,385
508| |---|---|---|---|---|---| ||||||275,322| ||||||**Balance at**
**31 March**
**2024**
-
5,666
61,324
1,172
-
1,080
12,725
126
12,245
4,957
7,574
11,493
3,459
171,079
21,166
-| ||||||314,066| The restricted funds relate to artwork projects for which specific funding has been received. -15- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **13 Unrestricted funds** |General
Collection
General
Collection|**Balance at**
**1 April**
**2024**
43,567
788,237
831,804
**Balance at**
**1 April**
**2023**
25,322
788,237
813,559|**Incoming**
**resources**
273,249
-
273,249
**Incoming**
**resources**
236,528
-
236,528|**Resources**
**expended**
(283,494)
705
(282,789)
**Resources**
**expended**
(216,549)
-
(216,549)|**Transfers**
(2,778)
-
(2,778)
**Transfers**
(1,734)
-
(1,734)|**Balance at**
**31 March**
**2025**
30,544
788,942| |---|---|---|---|---|---| ||||||819,486| ||||||**Balance at**
**31 March**
**2024**
43,567
788,237| ||||||831,804| ## **14 Analysis of net assets between funds** |Fund balances at 31 March 2025 are represented by:
Tangible fixed assets
Current assets
Creditors: amounts falling due within one year
Fund balances at 31 March 2024 are represented by:
Tangible fixed assets
Current assets
Creditors: amounts falling due within one year|**Unrestricted**
**funds**
**Unrestricted**
**funds**
**£**
794,037
34,910
(9,461)
819,486
**£**
794,958
46,210
(10,158)
831,010|**Restricted**
**funds**
**Restricted**
**funds**
**£**
-
277,560
(2,238)
275,322
**£**
-
319,161
(4,301)
314,860|**Total**
**£**
794,037
312,470
(11,699)| |---|---|---|---| ||||1,094,808| ||||**Total**
**£**
794,958
365,371
(14,459)| ||||1,145,870| -16- Docusign Envelope ID: 9E0206AE-1BA7-4647-9BB2-0DAE892F9313 ## **GRAMPIAN HOSPITALS ART TRUST SCIO** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **15 Related party transactions** There were no related party transactions during the year. -17-