¢ornp•ny registratign SC060925 Iseotlandl Charlty rnglstratlon nUrn￿r SC020909 Iscotlandl GARVALD WEST LINTON LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 GARVALD WEST LINTON LTD CONTENTS Page Director5, report Independent auditorfs rewt Statèmant of finan(ial athwbe$ 10-11 Balance sheel 12 Slatoment of (g$h Iltrws 13 Notes to thè financtal statéments 14-26 GARVALD WEST LINTON LTD DIRECTORS, REPORT {INCLUDING TRUSTEES, REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The trustees who are also directors present their anrNJal ￿p(￿t and finawal $181ements for the year ended 31 August 2025. The financial statements have been preparèd in aXOrdan￿ vAth the a(x*xJnting poli(ies set out in note 1 to the finanual statements and comply with the d)ariVs Memorandum and AriK4es of As50cAalion, the Charities and Trustee Investment IScx)tlandl Act 21)05, the Char￿.e$ AcLounts IScA)tlandl Regulations 21K)6 las amended), the Companies Act 2006 and "Acxounting and Reporbng by Charibes." Ststèmènt of RÈ￿mMèndèd Praeti¢X applicable lo charities prepanng their ac£ounts in accordance with the Financial Reporting Standard aptAicabk in the UK and Republic of Irel8rKI IFRS 1021 (effedNe 1 January 2019)". Stru¢tur•. govfrman¢e and management Governi•)g Docum•nt G2Nald Wesl knnlon Limit￿1 1$ a tharrtable company limtted by guarantee and is govemed by tts Memorandum and Artde5 9fAssociats"on dated 1976, amended Artides ofAssouatK)n adopteil 25 Novernbef 2017. The ￿abilIty of each member is limrted lo £1. It is a registered chanty with the Office ofthè S¢oth"sh Ch8rty Regulator IOSCRI and its residential and day service is registered and rnonitored by the Carè In$pedorale. The directors who served during the year and up to the datè of sKanalu￿ of the finan(ial sialements are detsiled bel¢)w. In lemis of the Artides ofAssoaalion, 2 diredors ￿tire by rotslion and r￿d redected. During the period four new director's were appointed ar￿ three reb"red. Directors did not receive any ￿mUneralI0n. GARVALD WEST LINTON LTD DIRECTORS, REPORT (INCLUDING TRUSTEES, REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The directors who seryed during the year and up to the date of signature of the ffinancial statements were.. Directo Steven Whalley {Chaw) Vincent D'Agosb'no Rennie Gar(Iner Hannah Cairns Christopher Levison (appointed 27101r2026) Mary Levison {appointed 27101r20261 Ilka Roehe lappoinled 27101120261 Elaine Robinson lappoinl8d 27101r2026) Gillian Lèarmonlh Iiesigned 25103r202• Mike Casey (rèsignèd 23109r20251 Sophie Pilgrirn {res￿ned 23P3r20251 Sophie Pilgrim {app)int&J 23A19f2025) Craig McGregor (resigned 23109r20251 Int•rim Chi•f Ex•cutiv• Offic¢r ICEOI Sophie Pilgrim (aprx)Inle(129109r2025) Chief Executive Officer ICEOI Craig McGregor (resigned 26109r20251 Charity number (Scotlandl sCff2O￿9 Company number SC060925 Registered Offico Garvald House Dolphinton West Linlon EH46 7HJ Auditor Thomson Cooper 22 Slafft)rd Street Edinburgh EH3 7BD Banko Royal Bank of Scotland 142-144 Princes Street Edinburgh EH2 4BL GARVALD WEST LINTON LTD DIRECTORS, REPORT (INCLUDING TRUSTEES. REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 Apwnlmènt of nèw Directors Directors ara elèctèd at Ihe Companls Annu￿ General meeting and can be appointe(I dunng the year by the Board of Directors. A Director shall be entrtled lo hdd office for three years and is èligible for ￿lactiOn. Recrurtment of new Directors The Directors are recruited to MaInt￿n a balan￿ of skills within Ihe Board. Most appointrnents com6 from parties who already know the work of Garvald Vvest Linton and who have visited and attended events hekl at Garvald. The number of directors n¢>w stands at etghl and we are activety seeknng new recruits vrith the skills we naèd at Board level. Induction and Trnining of Dir•etorn New directors are bnefed on ttTeir legal obligations under tharrty law, the content of the Memorandum 8nd Articles of Association, the commrttee and decASiOn-making pro￿sses. and ieeent perfotrnance of the charTty. Directors are en(x)uraged lo attend appropriate extemal training events where these fa(ylrtate the undertaking of their Tole. A new directorfs Widuction programme is now in pla(*. Stru¢tur• The Board of Directors appoints the CEO, RèsKlential Manager. Day Seryice Manager, Finan￿ Manager, and oth8r key rnanagement posts and is available to a$5151 ¢)n more r#)mplex issues. The CEO and Residential Managèr a responsibk for pla￿ment of ￿$￿IentS. the eroagement and training of $laff and the day lo day management of the Reshlential Home. the Day ServrE Manager is reswnsibk for thè plar£menl of Day Service users. The Finan Manager ￿pOrtS lo the CEO and the Board of Directors. The Directors met on six occasions during the year to receive management and financd reports It¢)m the CEO. Re5idenlial Manager. Finan￿ Manager and Day Setmcas Manager,. meetings have now changed to quarterty. Key Management Remun•rati•n Paliey The key management of the chanty during the yeai ￿n￿sted of the CEO. Resdential Manager, Day Servi Manager and Finance Manager. Salaries are reviewed each year in bne with Local AuthoritylCOSLA pay settlements. Rl$k Management The Board havè Identified and addressed the follo￿ing main risk ar￿ f*x"ng the ¢harity 8$ foUow3'. The roquiremant lo ¢ompty with *i$￿tiOn, regulations. standards & guidance for rèsidènlial and day ¢ar& of adufts wrth addrtional 5UPPOrt needs.. The residentsal care home and day services are Jed by an experienced management team and trustees and are subject to extemal inspe¢kn"on by regulatory bodies including local authoriiiès, The Care Inspectorate and Fire and Rescjje SeN￿S. Further to this there is a series of intemal qualrty audrts as part of the quahty assurance system. Finanaal risks have ari5er¢ due to continued hKJh rate5 of ir>flation and BudgeVEmployers Nl thanges. leading to a SIgnffi￿nl rise in the cost base. This is being mrfigated by efforts lo in￿eaSe both the number of pl￿$ available and th8 number of day wvice users, logether wrth ongoing improvements in c£)st controls The risk lo wrurt surtable staff in Ihe soual care se(aor increased following the UK derysion to leave the European Union along with more local fa¢tots suc* as ongoing poor fate of pay, perceived ujmplexity of the roles and Garvald ￿￿$1 ￿ntOn'S geographic* remoteness. This continues to bè mitigated by use of the UK Visas and Imm￿ratiOn Sponsorship LKense Stheme whith has assisted the organisatstsn tts maintain adeqL¢ale numbers of staff. Thtr direGIoTS regularty review all risks to whith the thartty is ewsed and the procedures in pLace lo manage these risks. The cornpany risk register￿4S updated an¢J a substantial rewew look pL4ce. Al risk factors have been graded in terms of likdihood lo occur, impa(*, control procedure and responsit41ty- GARVALD WEST LINTON LTD DIRECTORS, REPORT (INCLUDING TRUSTEES, REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 Objectlvu •nd actlvitie Garvatd West Linton oflers (xre. sUPPQrt and trwning in both residenb.al and day 5eth.ngs for adums with learning disabiliti'es. The Organisatitin is ft>unded on the philosophy of Rudotf Steiner. The objects for which the company is established are the relief of those in need by reason of age, ill-health, disabilty financial hardship by the provision of ￿sidential a¢>x*mmodab'on, day and supp￿1 semces for adult$ wrth disabilities. To provtde this seNce in a safe yel stimulating enviionment wheiè people live and work and are encouraged lo parli￿pate to th& best r)f Iheir abilty in daity Imng acaith"es, work, recreation and tttrmmunty lrfe. To work in an en￿rOnment underpinned by thè values of Rudolf Steiner to support individuals to dev&lop lo their full potantial and ad(nowleilge their abilit￿S and cx)nlribution to the community. There a￿ five houses for residents and staff arKI IR addition, a varied day cenlre provision of WOTk5hops. Cultural a¢*"vib"es and festivals take place throughout the year. both within Garvald West Linton and in Ihe local con7rnunity. AehI0￿ments and perfomMne• The number ol residents has remained stable at 32 this year. The number of non•resTrdents accessing Day Servicès increased slightly. from 10 bast yèar to 11 this year. The pnncipal funding is from l(xxl authonb.es in the forn of care paiknges. Fees were 1nc¥eased by 3.59fjA for this financial year, and the majority of local authonties have agreed lo fvnd this increase. This uplrft has enabled G8rv8ld West Linton to ensure that staff continue to be paid at least the Real Liwng Wage. Not all k)¢al authorities have a￿eptsd the fee increase, despite fees being set by our Hom8 L(K21 AulhoNty arKI the expectation under the COSLA agreement thal other aulhonties wil follow this rate. Change5 Introduced by the UK Govèmmenl lo the r￿S for Cerfikat8s of Sponsorship in July 2025 mean that we ale no longer able lo re(•Jrt new staff from overseas wa this route. However. Garvald ￿$t Linlon continue5 to benefit from excellent retention of fjxisb"n9 oversea5 stsff. In athJitKJn, a rec£nt local reuuthient carnpaHJn has been 8ucce5sfvI in addressing a historic challenge in recruitiThJ care staff. Dèspitè the Ong￿ng soc¥al care workforce crisis and widespread slaff shortages auoss the se(lor. Garvald West Linlon ¢onbnues to demonstrate sector4eadirwJ levels of staff retenlion. We continue lo provide a wide range of workshops for regdents and Day SeNce users. Workshop opb.ons include working with our Estates team. the Bakery. Weaving. the Craft Workshop, and Paradise Gardens. During the summer months, there are additifmJ opportunrties lo take part in actmties in our walled garden. Throughoul year, we also offer a varied pr￿raMrne of fests"val8. carnivals, fairs, conc£rts and ceilidhs. These events are enjoyed by residents. Day Servi¢x users, staff and wsiiors. and pLqy an important role in building cornmunity and enriching life at Garvakl West ￿ntOn. IMpr0￿ments in rec¥uitment and slaffing levds have enabled rn0￿ staff to be re￿ased to attend training and prof6ssitsnal development. and to engage wth othèr Steiner organisations through shared away days and learning events. This supports stsff wellbeing. skius devèlopment and the shariThJ of best Pract￿ auoss the se¢tor. a embarking on a proactive programme rjf eslale maintenance and improvements to dé(x)r across Garvald Wesl Linlon. This has begun with utyJrading flooring aThJ lntrcxluc￿9 regular insfvions of roofs to ensure issues a identified and addressed at an earty stage. In recent years. the expanSIr￿ of aclivrties at Garvald has been conslrained by limitations In our ele(Jri¢rty suppty. We are therefore exploring the inSt￿latIon of three-phase elethryty to inuease capa¢Jty and resiliencB. This upgrade would also enable fLJlure investment ￿] renewable enwgy ar￿ Supporl planned imptovements to insulation. helping to improve the sustsinabilrty and energy efficiency of our èstate. GARVALD WEST LINTON LTD DIRECTORS. REPORT (INCLUDING TRUSTEES, REPORT) FOR THE YEAR ENDED 31 AUGUST2025 Finan¢ial review These statemetts are prepared in tenns ofthe Chaiities SORP FRS 102 and the Companiès Ad 2006. The ¢h8rty had to1￿ incoming reSoUr￿S of £4,172,484 I2￿24". £3,841.109) and total expenditure of £4.032.041 {2024.. £3.648.207) re5ulbng in an suWus for the year of £140.44312024 of£192,902}. The designated funds had incoming resources ol £nil (2024.. £nil) and totsl ex￿n￿rtu￿ of £87,70512024.. £93,109), resulting in a dafiut bèfore transfer5 of £87.705 (2024 .' £93.1091. The financial y8ar has been thalenging with Ihe continued irfflats"Or￿ry wnpact on a relaw fixed ¢x)st b8Sè. During the year, Gafvakl West Llnton completed a substsntial relurbishmènt of The Lodge al a lolal cost of £255,882. The refurbishment was largely fvnded by a grant from Garvald Trust of £170.000 which was gratefully rÈ¢wve(l. This sum is recognised in Ihe income for the yeaT. The caprtal element of the lodge expendrture has been capilalised in the accounts as an addition lo fixed assets and ￿11 be depreciated over its useful lrfe in ac¢ord8nce wlh the organisation's accounting polio¥$. This investment forms part of our wder programm& of improving the qualrty. salety 8fKI long-term sustainability of our estate. Reserves Policy The current policy is to nBintsin free ￿serveS Sul￿ent to fund the equwalent of six months expenditure. The Directors acknowledgè that they have not reathed this target bul are working on a Strategic Suppx)rted ￿VIng Plan lo enable surpluses in fvture yeats to meet a rewsed btrt more reall5￿"C obJectNe. The increase in this financi period ltsAugust 2025 is £13,247 {2024 I￿ease." £167.951). An anatysis of NetAssets be￿een Reserve Funds ￿ th"sdoseil in note 20 of the ao>)unts. The designated lunds represent expenditure madè on ftte(l assets less depreryation and ￿sS liabilth'e5 Outstanding on their acquisition of £1,424,62312024- £1,286.58018nd the inheriianct fvnd of£30,688 {2024.' £30.688). At 31 August 2025 free re5eryes amounted to £720.046 12024." £7C6.7991 which is wuivalenl to 20% of annual expenditure or expenditure forjust over 2 months. Plan$ for futhre periods In response to signifi¢ant thanges in the er￿￿rn￿, kgisLaiNe and eNrMmentsl ty)ntext. the organisatitsn has devekiped a fNè-yèar strategK ￿an. The f￿h￿ing strategic objec*Nes have been ag￿e￿." Secure the future of GaNabJ through sound fina￿JaI managem2nL Trans￿On to a Supported L￿Ing r[￿XIe1 for the people we SUPkW) Identfy additional meanirutul daybme aCtiv￿.es. Pro￿de an environment where staff feel valued supported. lrnprove infrastructure a(¥oss the Ga￿d Estate. Work MO￿ ck*sely with oryanisations where there are dear synergies. Develop communications that refie¢t Garyaid's strengths and aspiratsons. Garvald Wesl Linton is in the pr￿sS of tranStt￿nin9 fiDm a registered ￿KIentIal ca￿ home to a drfferenl funding m(Klel. known as Supported Liwng. Undw Supported L￿ing, residents are individualty assessed for their care and support needs, pfoviding a more secure and sustainable funding base for the organisats"on. ResKlents will also have ac£ess to a wider range of benefits and greater se¢urity of tenure in their homes. This Iransrtion represents a signifii%nt organisab.onal thange for Garyald ￿$t Linton. Hiwever, it will strengthen our lon*term financial sustainabslty and aligns us wth best prd￿Ce across the sector. Many comparable oiganisalions, induding Steiner or9anisations. have ￿TeadY made this tran$rt￿ Su￿sSfUllY. GARVALD WEST LINTON LTD DIRECTORS. REPORT (INCLUDING TRUSTEES. REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 strtsM￿t of dir•ctors' responsibilities The d1￿CtOrS, who also act as trustees for ¢harilable actiwb.es of Garvald West Linton Ltd . are responsible for Preparing the Directors. Report and thè finanii31 ststements in a(lOrdan￿ wth applicable law and United Kingdorn Accounting Standards (Untièd K￿gdOM Gener￿lYA￿Pted Accounb"ry Prac*ce}. Cornpany Law requires the directors lo prepar8 finanoal statèments for gath financkil ygar whith give a and fair wew of the slate of affairs of the charty and of the infX)ming resour￿$ and application of resources, incknding the income and expenditure, ofthe Charitab￿ company forth* year. In preparing these financaal stat￿entS. the dr8ctors requirèd to". - select suitable au)Junling pC4￿leS and then appty them consistenfy: - observe the methods and prin(iples in the chariti.es SORP. - make judgèmènts and estimates that are reasonable and prudant and - praparè thè finanaxl slatements on the going corKem basis unless it is inappropnate to p￿SuMe th81 the tharrty will continue in operab"on. The diredor5 are responsible keeping adequate accounting re￿rdS that disdose wlh reasonable accuracy at any time the finanaal posthon of the thatrty and enable them lo ensure that the financial staternents comply wth the Charities and Trustèe Investment Iscouand) Act 2005. the Charities Accounts Iscodandl Regulations 2006 las amended) and the Compan￿5 Act 2006. They are also responsib￿ for safeguarding the assets of thè charity and hence for taknng ￿asonatAe steps forthe prevention and detection offraud and other irregularities. Audltor In accordance wth the company's artides. a resolub.on proposing that Thomson CcKJper be reappointed as auditor of the u)mpany will be put at a General Meeting. Events after th r•portlng datè The Trustees 8re ol the opinion that there are m signiftsnt Post Balan￿ Sheet Events that would have an impact on charity's assèts. Di$¢losure of infonnatlon to auditor Each of the directors ha5 confirnied that there is no infomiakn.on of whith they are 8waTe which is relevant lo the audit, bul of which the auditof is unaware. They have fvrther ojnfirmgj that they have taken appropriate steps to idèntfy suth relèvant Informath￿ and lo establish that Ihe auditor is ￿re of such infomation. The ditectors. report was approved by the Board of tAr8caors. Mr S Vvhalley Dirèetor Date.. GARVALD WEST LINTON LTD INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF GARVALD WEST LINTON LTD Opinion We have au¢Jited tha finan¢>al stalefflents of Garwald Wesl ￿nton Ltd (the 'charity'l for the year ended 31 August 2025 which comprise the stalerTEnl of finanraal aGb"wb"es. the balance sheet. the 51alement of cash flows and notes to the finanoal statements. Induding signthcant acwunts.ng polues. The finanoal reporting framework that has bee applied In their preparation is applicabk law and United lfjngdom Accounts'n9 Standards, indudin9 Financial Reporting Standard 102 The Finèncial R￿￿￿[￿g Stsndafjl applicable in the UK and RepublK of I￿land (United lfjngdom Gen&raItyA￿eptedA￿Ounts.ng Pra(￿.￿). In our opinion, the finan¢ial ststements.. gwe a true and fair view of the state of the charitable eompanls affairs as * 31 August 2025 and of tts incoming resources and application of resou￿$. for the year then ended.. have been prope￿ prepared in accordance with United KiThjdC￿ Generalty Accepted Accounting PraLaice', and have been p￿pared in ac£ordance with the requirements of Ihe Companies A(* 2CM)6, the Ch8rltles and Trustee Inve8trnent {Scotland) Act 20C6 and regu&tk)n 8 of thé Charibes A(rAJunts {Scoland) Regulab"ons 2006. Basi¥ for opinion WÈ condv¢ted our audit in aC￿rdance wrth Intemalional Standards ￿ Audth"ng (UK) IISAS IUK)} and applicable law. Oui responsibilities under those standards are further desuibed in the Auditorfs rnspons1knlrt￿S for th8 audit of the finan￿81 statements seCtic￿ of our ￿pOrt. We are iThlependenl of the tharrty in accordance with the ethical requirements that a￿ relevant to our audit of the ffinancial statements in the UK, induding the FRC'S Ethical Standard. and we have fuJfille(l our other ethical re5ponsitilflies in aC0xdan￿ with these requirements. We believe that the audrt evidence we havè obl81r￿1 is suffi(x"ent and appropriate to provide a basis for our opinion. Conclusions relating to golng ¢on¢em In audib'ng the financtal ststemenls. we have wr￿uded that Ihe directors. use of the going concern basis ol accounting in the preparats.on of Ihe financial statements is appropriate. Based on the work we have perf(trmi8(l. we have not idenb.fied any material uncertainb.es relating to events or conditions thal. individualty or cdlethvety, may Ixst signtfvant doubl on the tharity's ability to wntinue 85 a g(Tring concem for a period of al ￿st iwelve m￿thS from when thg finanryal stalwnents are authorisei1 for issue. Our ￿spOnSiblE￿"es and the responsibiliiies of the direclors wilh respert to going con(%m are described M) the relevant sections of this reporL Other inforniation The other inforrnats.on comwises the information indud8d in the amual r8p(xt other than thè finan￿31 statèments and our auditorfs report thereon. The direclors are responsible for the other infomation contained within the annual reprt Our opinion on the fina[￿￿ statements does not ryjver the other information and we do not express any form of assurance conclusion thereon. Our responsibilty ￿ to read the other information and. in doing so, consider whether the other infomiab'on matenally inconsistent wth the finanrial 5talemenls or our knowledge obtained in the course of thg audi(. Of olhemse appeats to be malerialty misstated. If we identfy such material inrAJnsistencies or apparent materi81 misstatements, we are required to detemiine whether this gives rise lo a malenal misstslement in the finanaal statemerrts themselves. If. based on the work we have performed. we cOncl￿￿e that there is a material misstatèrnent of this othor informat￿n. we are required lo report fa We have nothing to raport in thi$ regard. GARVALD WEST LINTON LTD INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF GARVALD WEST LINTON LTD latters on which we ar• r•quired to r•port by •xcoptfjon We have nothing to rèport in rèspeLt of Ihe folk)wing matters in relation to which the Charitses knnts {Scotlarid) Regulations 2CM)6 requires us lo report lo you if. in our opinion.. the infofrnation given in th¥ finawal stslements 15 In￿nSiStenI in any material respect with the directors. report,. or proper accounting records have not kept: or the financial statements are not in agreement with the actounting rewrds,. or wè have not received all the Informal￿ arKi e>Planat￿nS we require for our aud Responsibiliti•$ of diF•etors As explained more lulty ir* the statement of diredunb"ng unless the direct￿$ either intend to liquidate the charil*le c(*mpany or to cease OperatN￿$, or havè M rèalith"c aMernalNe but lo do so. Auditorfs responsibilitigs forthè audlt of th* financial statwnents We have been appointed as auditor under secli¢>n 4411llc} of the Chaiiti'es and Trustee Investrnent (Scotlandl Act 2005 and report in accordance wlh the Act and re￿vant regulations made or having effeci thereunder. Our objectives are to obtsin reasonable assurance aboul whether the finanaal statements as a whole are Iree from material misstatement. whother due lo fraud or error, and to issue an auditorfs report thai indudes our opinion. Reasonable assurance is a high level of aSsU￿nce but is not a guarantee that an audit conducted in accordance wrth ISAS IUKI wll thays detecl a material missiatement when it exists. Mi&%tstements ¢an arise from fraud or error and are considered Materi￿ rf, indiwduaiy or in the agg￿gate. they ieasonatAy be expec*ed lo influence the ecor¥)rnic deciS￿n$ of users tsken ¢)n the basis of these )Inancial statements. The extent to which our Kmdures are Capab￿ ofdeteth'ng iWLdant*s, inthding fraud, is detaI￿d below. Extent to which th• auditwas ¢on$idered ¢apable of detecting irrngularities, including fraud We considered the Opportun￿'eS and in¢enbve5 that may exist wthin the organisabon for fraud and identified the greatest potential for fraud in the folloMng areas.. e￿stenCe and tsming of recognition of grant income and the postsng of Iran5adions to the Djrred funds. We dis¢yssed these risks with managernenl. designed audit procedures lo lest the tsming and existenca tsf donations and grant i1￿Me, inc4uding reviewing of grant paperolork and terrns and conditions. remewing the all0￿￿.0ft of (x)sts aga￿St the ￿rrect funding and rewewed areas of judgemenl for indicators of rnanagement bias. We identifieil areas of laws and regulations thal c(¥Jld r•a$￿abty be ex￿ed to have 8 materi81 eff&t on the financial slalemenls from our sector expen.ence through dis¢xJssion with the officers and other management las quired by the audrting stsndardsl. We fO￿Se￿ on speafic laws and Tegulats'ons which may have a direcl material effecl on the financial ststements or operation of the tharity, induding the Charities and Trustees Inveslmenl {Scottand} Act 2005. regulation 8 of ChariliesA(y￿nts Iso)tsnd) Regulab"ons las arnendedl. We assessed the extent of compliance of Ihe laws and iegulalions idenb.fied above by inspecting any legal correspond8nce, th8 Care Inspectorate report and making enqusries of Manag￿ent. We remeweil the laws and regulations in areas that directty affect the financial statemènts induding finan¢i81 and taxats.on legi51alion and ￿nsidered the extent of rx)mpliance w¢th those I￿ and ￿gulatiOnS as part of our pro￿ureS on the related finan(ial ststement rtems. GARVALD WEST LINTON LTD INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE DIRECTORS OF GARVALD WEST LINTON LTD Wrth the exception of any known or ptissib￿ nOr￿Qynpllan¢x wilh relevant and signfficant laws and regulatTrws, and as required by the audrttsng stan¢Jards, our work in re8peca of these was limited to enquiry of the officers and rnanagemenl of the Mmpany. We cornmunicated identified laws and regul￿￿)￿$ throughout ourteam and remained alert to any sndicalions of non- compliance throu9hoirt the audrt. However, the primary restxMsibility for the prevention and detection of fraud rests wrth the trustees. To address the risk of fraud we Identsfied internal Cdjntrols estsblished to identsfy risk, pèrfomed nalylical procedures to identfy unusual movemenls. assessed any judgements and assumptions made in ¢Jetem)ining accounting estimates. rewewed joumal entries for unusual transac*ons and identified related parties. Owing to the inhererrt limitatrons of an audit, there is an unavoidable risk Ihat we may not have detected some malfjnal misslalements in the finanoal statements. even though we have property ￿anned and pèrfonned our audrt sn acwrdance auditing stsndards. We are not responsible for kyevenbng n¢)n-cOM￿lance and cannot be expected to detecl n￿-Comp￿an￿ wlh laws and regulabon$. These inherent limitations are p3rticularty s￿n￿￿nt in tha casè of rnisstatement resulting from fraud as this may involve sophistirtsted scthemes designed to avoh1 detedion. hnduding deliberate failLbre lo record transactions, collusion or the provisron of intentional misrep￿$entats"Ons. A further description of our reswinsibAiti8s is aYailabSe on the Fina￿al Reporb'rg Counryl's website at.. https.'Il www.frc.org.uklauditorsresponsitHlrfie$. This de￿ption fomis pat of our audilofs feport. U¥e of our report This report is madè solely to the charws trustees. as a body. in atxordance with Regulation 10 of the Charities Accounts {ScotEandl Regulations 20ChS. Our audit work has bèèn ￿1￿￿rtaken so that we might state to th& charity's trustees those matters we are required to stale to them in an audrtor's report and for no olher purpose. To the fullest extent pemirftÉd by law. we do r￿t awt or assume ￿SponSIbl11Y to anyone olher than the charity and the tharty's Iruslees as a body, for our audit work. foi this report. or for the opinions we have fomied. Fiona Haro (Sènior Statutory Auditor) For and on behaw of Thomson Cooper, StatutoryAuditor Chartered A¢￿u￿tants Edinburgh Dale". 274J5-26 Thomson Cooper is eligibfè for appointment as aLkJrior ol the charity by virtue of its eliyibli tty for appointment as 8udilor of 8 wmpany under section 1212 of the CompanFes Act 2￿)6. GARVALD WEST LINTON LTD STATEMENT OF FINANCIALACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Currnnt financial year Unrestricted Designatèd Restricted funds funds fvnds 2025 2025 2025 Total Totsl 2025 2024 Income and endowments Donations and legactes CharitabEe aCtI￿711e5 Inve51rTtenls Other income 117 3.987.035 10,816 3.246 171.270 171,387 43,623 3,987,035 3,787.708 10.816 9,778 3.248 Total 5ncome 4,￿1,214 171.270 4,172,484 3,841,109 Ex endlture on: Raising fvnds 2.550 2,550 Chafitable actiwb.es 3,934.669 87,705 7.117 4,029,491 3,648,207 Total expendltur• 3,937.219 87,705 7.117 4,032,041 3,648.207 Net Incomlng resour¢es bèforn tr•nsfws 187.705) 164,153 140,443 192,902 Gross transfers I￿￿een fvnds (Xl.748} 225.748 1175,(KlO) Not incomellexpenditurnl for the yearf Nèt movèment in funds 13,247 138,043 (10.B4n 140,443 192.902 Fund balances at 1 Septomber 2024 7[￿,799 1,317.26B 38,867 2,C62,934 1.870,032 Fund balances at 31 Augu#t 2025 720,046 1.455.311 28,020 2,203.377 2.062.934 The sktement of finanaal actMbe8 indudès ￿1 gaIr￿ losses recI)gn￿l in the ye8r. AJI iicome and eypenditure derwe from wntinuing ath"th. The slaternent of financial actimtses also ￿npl￿S V+ith the requitements for an ing)me and expendrture aw)unt under the Cornpanies Ad 2006. io- GARVALD WEST LINTON LTD STATEMENT OF FINANCIAL ACTMTIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2025 Prior financial year Unr•strlctèd Dèslgnatsd R•stslet¢d funds funds fvnds general 2024 Total 2024 2024 2024 Income and èndowments from: Donations and legaryes Charitable activ￿.￿$ Inveslrnents 291 3.787,708 9.778 43,332 43,623 3.787.708 9,778 Total In¢ome 3.797.777 43,332 3,841,109 Charrtable actiVTbes 3.540,552 93.109 14,546 3,648,207 Total expenditurn 3.540.552 93.109 14,546 3,648,207 Net incoming resources bthiY• transfern 257.225 (93.1091 28.786 Gr035 transfers betsveen funds {89.2741 86.723 2.551 Met incomel{expenditurg1 forth• ygarl Net movement in funds 167.951 16,3661 31,337 192,902 Fund balances at 1 Sgptomber 2023 538.848 1.323.654 7,530 1,870,032 Fund balances at 31 August 2024 7C6,799 1,317.268 38,867 2.CE2,934 11 GARVALD WEST LINTON LTD BALANCE SHEET ASAT 31 AUGUST2025 202S 2024 Notss Fixèd assèts Tangl￿e assets t1 1.457,980 1,384,925 Current assets Dabtors Cash at bank and in haThJ 12 418,828 J6.613 316,448 760,440 1.115,441 1.076,888 Creditorn: amounts falling due within one year 14 (370.044) (386.708) Net ¢urrent assets 745,397 710.180 Total assets less current liabilbti•s 2,203,377 2,095.105 Credttorn: amounts falllng du• aftÈr more than one year 15 132,1711 Net assets 2.203.377 2,062.934 Th• funds ofth• ¢haiity Restricted in¢ome funds Unrestricted funds- general Unrestricted funds- de￿gnated 17 28.￿20 720.046 1,455,311 38.867 7[￿,799 1,317,268 18 2,203.377 2,(￿2,934 These fin3no31 ststements have been prepared in accordancg With the promsions appli￿ble lo wmpanies subjec* lo the sm￿1 ccrfnpanies regime. Thè financial statèmènts were approved by the directors on .......... Mr S Vthallgy Llrector 12- GARVALD WEST LINTON LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST2025 202S 2024 Notes Cash flows from opernting a¢ti¥fities Cash generatad from opèrations 143.885 230,609 Inv8stlng activitios Purehasé ol tsngiblè fixed assets Pr￿edS from disposal of tangible fLxed assets Investment irwmè rece￿e￿ 1160,7PJ)} (11,1801 3.246 10.816 9.778 Not cash u$8d in invasting actlvltl•s (146.898) {1,402} Flnanelng aetlvltlos Repayment of bank loans {61.014) 178.0941 Nèt eash usèd in financing aetiviti•s 161.014) (T8,094} Net Id8cr8as•)fincrnas8 in cash and cash equivalénts (63.827) 151,113 Cash and cash equIva￿nts at beginning of year 780.440 609,327 Cash and cash ￿ul¥alents at•nd ofyear 6￿.813 780,440 13- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 A¢¢ountlng poll¢l•s Chaiity infomwtion Garvald Wesl Linton Ltd is a prwate c¥Jmpany limrted by guarantee incorporated in Scx)tiand. The registered olfice is Garvald House, Dolphirrton, lA￿st knnlon, EH46 7HJ. 1.1 Accounting convention The financial ststements have been prepared in attordanc2 wrth the tharty's Mernorandurn and Articles of As$ociab"on. the Charities and Trustge Invèstmènt (Scotlandl A¢t 2005. the chanb.es Accounts (Scollan Regulabons 21J06 (as amended), the Companies Act 20(￿. FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. fFRS 10T) and the CharTti"es SORP 'Acwurrting and Reporting by Charities.. Slaternent of Recommended Practi￿ applicalAe lo chanties preparing their accounts in aC￿rdance wrth the Financial Repo￿"n9 Standard applicable in the UK and RepU￿1C of Ireland (FRS 102}" leffeciivo 1 January 20191. The tharrty 15 a Public Benefit Entity a$ defiwl by FRS 102. The finaniial statements are prepared in sterling, whith 1$ the fijnctional ojrrency of the t*arty. Monetary amounts in these financial statements are rounded to thè neatest £. The finawal staternents have been prepared under the hi￿0￿¢81 cost Djnvention. The prinapal accounting policies adopted are set OLrt bèl(N_ 1.2 Going eoneèrn At the time of approving the financial statements. the directors have a reasonable expectation that the charity has adequate resources to eontinue in operab.onal existence for a period of 12 months from the date of appfoval of the finan(ial statements. Thus the dwecaorn continue to adopt the going cOr￿￿1n basis of accountiro in preparing the financaal Staternefrts. 1.3 Charitsbl• fund$ Unrestricled fund$ 8re available for use al the disc¥etion of the directors in furtherance of their charitable obiectsves. Rèstrrted fvnds are subJ'e(a to Spe￿ cnnditions by donors or grantors as lo how they may be used. The purposé8 and uses of the restricted fvnds are set out in the notès to the finaniial statements. EndL)wment fvnds are subJ'8L* to SP9ofic QYKliti"ons by don0￿ that the capital must be maintained by the IA Income Incknme is recognised when the c*arty i% legalty entilled to it after any perfomance Conditions have been met. the amounts can be measure(I rdobly. and rt is probable that income will be received. Cash donations are recognFsed on re¢￿pt. Other donations a￿ recognised oncè the charity has been notified of the donation. unless perfofrnance conditw)ns require deferral of the amount. Legaues ars r6¢ognised receipt or othemse rf thè charity has been notif￿ of an hmrending dkslribution. the amount is known, and receipt is expe(#ed. If the amunt is not known, the legacy is treated as a contsngent asseL 14- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 A¢¢¢*unting policies {Continu•dl 1.5 Expondlturo Expenditure is re¢ognised once there is a legal or constructhe obligab.on to transfer eeot7omic benefit lo a third party. it is prob8ble that a transfer of economi¢ beneffts wll be iequirgd in settlement, and the anwunt of the obligation can be measured reliably. Expendrture is dassffied by actmty. The cJ)sts of eath ac*wty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each acb'vty. Direct ¢osts attributable lo a single activity are allocated directty lo that acb"vty. Shared costs vA)ith contribute to MO￿ than one activity and support costs which are not attributable to a actiwty arts aw0￿.Oned belmeen those actNilies on a basis consislenl wrfth the use of resources. Cèntral staff ￿$t$ are alk￿￿ed on the basis of time spent, and deppiialion charges are alkjcated on the porbon of the asset's use. 1.6 Tangible fixed ass•ts Tangible fixed assets are intbalty maasured at cost and subsequentty measured at cost or valuation. nel of depreciation and any impairment k)sses. Depreciation is re￿gnised $0 as to T￿lte off the cost or valuation of assets bess their residual values ovgr their useful lives on the folhjw.ro bases". Assels under the ojurse of ￿nStru(￿On Leasehold improveménts Plant. fixturès and fijrniture MOtC￿ vehides 0% until cDrnplets)n 40 year and 20 year stra4ht bne 3 year straight line 5 year straight line The gain or Soss arising on the disposal of an asset determined as the drffereni£ betsyeen the 5aJè proceeds and the carrying value of the asset. and is recognised in the slatem8nt of financsal adi￿t￿S. 1.7 Impaimi•nt of fixed assets Al each reporting end date, the charlty revlews the carrying amounts of ts tangible assets lo determine whether there is any ind￿￿tIOn that those assets have suffered an impairnient loss_ If any such indication exists, the recxsverable arnount of the asset is estimated in order lo deteThine the extènt of the impairment loss lif any). 1A Cash and cash equivalents Cash and cash equivalents indude (ash ￿ hand. depO￿ts held al call wth banks, other 8hort-temi liquid investments wrth Origin81 matunts.es of three months C￿1￿$ 1.9 Financial initrumw)ts The charity has elected lo apply the provisM)ns of Seth"on 11 'BaS￿ Finan(aal Instruments. and SeclKin 12 'other Finanryal Instruments Issues, of FRS 102 to all of ts finangnised amounts and there is an intenlion to settle on a net basis or to realise the asset and settle the liabilty simumaneousty. 15- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Accountlng pollcl•s (Continued) Basie finaneialassets Basic finanaal assets, whKh in¢*Jde debtors and cash and bank balances. are injb.ally measu￿￿ 81 transaction price induding transactK)n costs and a￿ subsequentty carried at amorbsed cost ￿￿ng the effective intefast mèthod unkss Ihe arrangernent consb"lutes a finanryng transaction. whèrè the tranSact￿n is measured at thè present value of the future receipts discourrted at a market of interest. Finantial assèts ¢lassified as receivatAe wrthin one year are not amortised. Bas1¢ flnan¢lalliabilities Basic financial liabilitj'es, induding crèditors and bank loans a￿ inrtolty rwnised at transathon priek unless th& arrang8mant constitijtes a financing transaction. where the debt instnjtnent is measuied 31 thè prèsènt value of the future payments discxjunted at a market rate of interest. Financjal liabilit￿S dassified as payable within one year are not amortised. Dobl instruments are subsequentty carried at amortised cost, wryJ the effec*'ve Inte￿St rate method. Trade uedrtors are otjigalions lo pay for goc*Js or ser¥ices that have been acquired in the ordinary course of operats'ons from suppliers. Amounts payable a￿ dassified as aJ￿ent liabilrf(ies if payment is due wrfLhin one year or less. 11 not. they are presented as nO￿￿ent liabilities. Trade creditors are recognised initially at tsansaetion price and subseqtserrtty measured 8t amortt.sed (xjsl using the effective inlewl method. Derecognition of fftmncial liabililies Financial Iiabilrties are derewgnised when the chanV5 (x)ntraC*[￿l obligat￿5 expirè or are dis¢tharged or cancelled. 1.10 Employ¢• b•n¢fits The (xjst of any unuwl holiday entrtlement 15 recxJgni5ed in the per￿ in whK* the employee's services aro received. Termination beneffts are recognised imm8diatdy as an expense when the charity is demonstrabty committed to teminate the employmenl of an em￿oyee or to prowde le￿InatIOn beneffts. 1.11 Retirement benefits Payments lo defir￿d cthttribLbtion retirefflent benefft sCherr￿S are charged as an expense as they fall due. 1.12 Le#*e$ Rentals payabla undèr operating leases. induding any lèasè In￿n￿"Ve5 rèceived. arè char9ad as an 0Xp￿Se on a straighl line basis over the lerni of the relevant lease. In¢ome from donations and legacies Unrestricled Restricted funds fund$ 2025 202S Total un￿striCted Restricted funds funds 2024 2024 Total 2026 2024 DonatK)ns and gifts Grants 117 1.270 170.￿)0 1.387 170,C 291 14,602 28.730 14,893 28.730 117 171.270 171,387 291 43,332 43,623 16- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Ch#ritabk A¢tivitse¥ 2025 2024 Residential and care fees Sale of residents Work and produce Other income 3.978,208 3,776,207 7.195 9.113 1,632 2.388 3.987,035 3,787,708 Analysis by fijnd Unrestricted fvnds- general 3,987,035 3,787,708 Inv•stm•nts 2025 2024 Interest receNab 10.816 9.778 Other ineome 2025 2024 Net gain on disposal of tatyJible fixed assets 3,246 Exp¢ndituY¢ on rai$ing fund$ Unrèstrlctsd Unrnstrfctsd funds funds 2025 2024 Fundrnising and publktty Other lundrai$ing ¢08ts 2.550 17- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Charitable activrti•s 2025 2024 Staff costs other staff costs Depreaation and impairm￿1 Establishmenl ojsls Household costs Res￿Jent costs Other costs Property upkeep 2,681.614 2,518,464 182,395 108,504 82.025 86.227 376,207 355.572 163,433 156.866 50.404 43.868 20.459 31.094 172.636 70,258 3.729.173 3.370.853 Share of supp)rt costs {see note 81 Share of governan￿ o)sts (see note 8) 2SO.207 SO,111 228,343 49.011 4,029,491 3,648,207 Analysis by fund Unrestricted funds- general Unrestricted funds- designaled Restricted fvnds 3.934.669 3.540.552 87,705 93,109 7,117 14,548 4.029,491 3,648,207 Support cl￿ts alloeat¢d to octlvlts• Cove 2025 Total 2024 Basis of alloeation Staff time Staff Costs DeprecAation Eslablishmenl rx)sts Other costs B8nk interest Interest return lo Garvald Trust Govemance 154.230 150,011 6,882 16,235 44,087 11,128 Square ft#*ge 19,8C(I 42,438 5,559 22,5 50.111 rect red Staff timg aThY 49,011 300,318 277,354 18- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Support costs allocated to activilies (Continued) 2025 2024 Gov•manc• easts eomprt¥e: Staff costs Audit fees Accountsncy Registration and disdosure fees 30.672 7,620 28,618 7,425 4.305 8,663 9,359 50.111 49.011 Employèos The average monthfy number of emFloyees during the yearwas.. 2025 Number 2024 Number Care Home staff 128 135 Employmont costs 2025 2024 Wages and Salaries Sofial securty costs Other pension (x)sts Life Assurance costs 2.534,571 232,598 84,731 14,616 2,406,350 180,360 85,088 25,295 2.866,516 2,697,093 The key management personnel oflhe charrty comprise the CEO. day serVi￿S manager, residential manager, and finance manager. Their total cost indudiNJ employèr's pension and natK)nal #isurance contributions was £201.260 {2024.' £185.795). There were employees whose annual remuneralion was more thaR £60,OC(I. 10 Taxation Tho chanty 1$ exempt from taxation on its activitses b￿uSe all its Th1￿Me is appfied for charitable purposes. 19- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 11 TangIb￿ flx•d assèts Leaseho￿ Plan¢ tlxtur•s Impri>vqffl•rrt5 * furntiur• Vghlclo5 Cost At 1 September 2024 Additions Disposals 2,0￿.183 113,388 330.145 90.889 2,511,217 10,407 36.965 160,760 {1.25n 129,9001 131,157) At 31 August 2025 2.203.571 339.295 97.954 2.640,820 Dgpreciatlon and impairrr*nt At 1 Septembef 2024 Depreciation charged in the year Eliminatgd in respe(a of disposals 800.650 53.122 264,215 61.427 1,126,292 22.721 11.862 87,705 11,257) 129.9001 131,1571 Al 31 August 2025 853.772 285.679 43.389 1.182.840 Carrying amount At 31 August 2025 1.349.799 53.616 54.565 1,457,980 At 31 AtvJusl 2024 1289,533 65.930 29,462 1,384,925 12 Debtorn 2025 2024 Amounts falling due within one year. Trade debtor5 Other debtors Prepaymtrnls and auxued income 198,359 24.162 196,307 91,266 3,609 221.573 418.828 316,448 13 Loans and overdrJfts 2025 2024 Bank k)ans 33,357 94,371 Payable wthin one year Payable after one year 33,357 62,200 32,171 Th8 loaft granted by GaN￿d Trust fvnd•l ty Royal Bank of Scolland with an interest rate 2.75°A above The total capital repayments on the ban is £688.027 commencyng 29 Juty 2013 with 52 quarterty payments. -20- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 14 Credltoys: amounts falling due within one y￿r 2025 2024 Bank loans Other laxalion and social sg¢urty Trade creditors (Thr creditors Ac¢ruals and deferred incom8 13 33,357 52,987 56.634 24,061 203,005 82.200 45,197 48.020 57,929 153,362 370,044 366.708 15 Creditors.. amounts falling due after morn than one year 2025 2024 Bank loans 13 32,171 16 Retirement bonèfft schemeg 2025 2024 Defin•d contribution schgnws Charg& to [￿fft or loss in respect of dèfin8tl ctsth"trxrt¥)n scheines 84,731 85.088 The charty operates a defined contribution pension scheme for all qualtfying employees. Tha assèts of the scheme are held separately from those ofthe chanty in an independenty administered fund. 21 GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 17 R8strict•d funds Thè income lunds of thè tharrty irKJude rè$trKa8d ￿ndS o)mpri$ing the following unexpended balan￿S of donations and grants held on tJust for speufic purposes: CurY•nt y•ar: Atl Incoming R•sourc•s S•pt•mbèr Ywourt•s 0X￿nd•d 2024 Transfers At 31 August 2025 Oil bath fvnd Hill Cott8ge fvnd nden fund Rowan fijnd Ibw fund Thè Sensory room Roger Raymond Charitable Trust Outdoor sp￿ fvnd RS MacDonald Charrtable Trust Cruden Foundation Lodge Renovation 4,333 150 2,000 1,713 100 117 30 1.713 1C*) (78n (5,CQOI 25,501 240 (6,1341 15661 12911 19,607 291 170,fX)O 1170,(K)01 38.867 171.270 (7.117) 1175,LX)01 28.020 Previous year. At1 Incoming S•pleM￿r rosour¢•s 2023 Resources expendèd TransferJ At 31 Augu$t 2024 Oil bath fund Hill Cottage fund Linijen fund Rowan fund Willow fund The Sensory room Roger Raymond Charitablè Trust 80th Birthday Celebrations RS Ma¢Donald Charrtable Trust Cruden Foundation 4,333 150 2.1100 1.713 100 17871 1.713 1(K) 234 (1,0211 5.000 25,501 566 291 23.602 12,730 (6521 (12,1641 (7091 2.551 43,332 (14.546) 2,551 38,867 GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 17 Re¥trictgd funds {Continued} OTI bath fvnd To fund the building of an ryl bath and cabin. Hill Cottage fund To fund swyal rg]uests for expenditure within Hill Cottage. Llndon fund To fund special raquèsts for oxpendrturewrthin Linden House. Rowan fvnd To ftjnd speaal requests for e>peThJrture within Rowan House. Wlllow fund To fund speual requests for expenditurewrthin Wlbw House. The Sensory room To fvnd a sensory room.. Roger Raymond Gharitable T￿￿t Towards new build bjnd,. the new tryjikl prgect was disrx)ntinued and R￿J￿r Raymond Chatitablg Trust agreed that the lunds could ￿ ￿lOCalèd t1￿¥[d$ the Lodge renowalions. Outdoor Spac• fund Iprèviousty rtam￿ 811th Birthday Cèlèbrn1ioM) Fundraising to Taise funds for Outd￿ spa(*. RS MaeDonald Charrtable Trust Grant funding for repla￿ment ramp. Crud•n Foundation Funding towards music thgiapy Lodge Renovatlon Funding from Garvald Trust to [￿0vate lodgè to bring into usè undèr ￿￿n&s$ model of SO￿ contained -23- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Unrestricted funds- designated This fund is unrestricted and free to use in accordance wilh the obiectves ofthe charity. At1 S•pt•mbor •x￿nd8d 2024 Trnn5fers At 31 Augu8t 2025 Fixed Asset Fund InherTtan¢e Fund 1286.580 30,688 187,705) 225.748 1.424.823 30,688 1.317.268 187.705) 225,748 1,455,311 Previous year. At 1 Resources Sept•mbw 8xpgnd•d 2023 TransferJ At 31 August 2024 Fixed A88el fund Inheritance fu Sawng5 fvnd 12￿).415 30.688 2.551 193,1091 89,274 1,286,580 30.688 12,S51) 1,323,654 193.1091 86,723 1,317,268 Fixed asset fund This fund replesents a fijnd set a￿de by the [1￿ctorS to be equal to expendrture made less depre¢ialiJn prow¢Jed on fixed assets and less I￿￿"11ti"eS outstanding on th￿r acquisition. Inherltsnce Fund This lund is legacAes received from the estate of Eon Grir￿laY ar￿ Jeart Horsburgh whi¢th the directors have allocated to the )trture deVelopn￿l of Garvabj. Saving$ Fvnd This lund is fundraising monies which the diredors have thcated to futu￿ ojsts. the Directors agreed to transfer the funds to the outd￿ Spact fuThJ. 19 Unrestrlctsd funds The In￿Me funds of the tharty In￿de the frAlowing designated fuThJs which have been set aside out of unrestritxed funds by the trustees for SI￿(￿fiC purposes". At1 Incoming R•sourc•s Trnnsfevs At 31 August 2025 2024 General funds 7C6.799 4.(K)1,214 {3.937,219) 150.7481 720,046 -24- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 19 Unr¢8lrf¢tsd fvnd$ Icontlnuodl Prgvitsuj ytsr. Atl Incoming September resources 2023 Resour¢es expended Trnnsf•rs At 31 August 2024 General fvn(ts 3.797,777 (3.540.552) {89.274} 7C6.799 20 Analysis ol net assets ￿trAte￿ futxls Unrestricted Designated Restricted lunds funds funds 202S 2025 2025 Total 2025 Fund balances at 31 August 202S a￿ iepresented by.. Tangible assets Current assetSl{liabilrt￿$) 1.457.980 12.6691 1,457.980 7￿￿,397 720.046 28,020 720.046 1.4SS,311 28,020 2,203,377 Unrestri¢aed Designal&l RestrKted ftjnds fvnds fur￿$ 21Y24 2024 2024 Total 2024 Fund balances at 31 Augusl 2024 are represented Tangible assets CurrÉnt assetslalabilrt￿$) Long term liabilities 1.384,925 {35.4861 {32.1711 1,384,925 710,180 132,171) 706.799 38,867 706.799 1,317.2&8 38,867 2,062,934 21 Oporatsng ¢crnitsnents Le$s80 The charty has a lease on the propety whth extends up to June 2037. The operating leases payments r8pr8sent rentals payabk by the tharity for ifs propert￿. At the reporting end date Ihe tharity had outstanding commrtments for fijture minimum bease payments under non-cancéllable oparating leasos. which fall duè as folbws: 202$ 2024 Within one year Between tsvo and five yea In over five years 39,750 42,000 419,250 33,000 132,000 291,500 $01,000 456,500 -25- GARVALD WEST LINTON LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 22 R•latsd paity transa¢tion$ Tron$o¢tlon$ wrth rnlated paths During the year the chanty made payments for luThJraising services lo Sophie Pilgrim, a Trustee. during the period lot￿lIng £2,55012024". £nill. The payments We￿ made under stsndard temis and o)ndilion$. One c4ose relalNe of one manager received remunerath)n #i the period as an employee under nomal terms and conditions. The total salary pad was £1.321 12024 ' £1.482}. Analy$l$ of ¢hang￿ In n•tfvnd$ At I Sap1￿b* Cashllo* At 31 August 2024 2026 Cash at bank and in hand 760,440 163,82n 696,613 Loans falling dua wthin one year Loans f￿ling du8 after mime than one ye {62,200} {32.171} 28.843 32.171 {33,357) 12.813) 663,258 24 Cash g•n9rated from op•rntlons 2025 2024 Surplus for the year 140.443 192,902 Adjustments for. Investment income rec<)gnised in statem8nt of financAaJ aCb￿e5 Gain on disposal of tangible fixed assets DèpreaatK>n and impaim*nt of tsn9lb￿ ftted assets 110,816) {3.246) 87,705 19,7781 93,109 Movements in working ¢apltsl: {Increase}Idecrease in debtors Increaselldecrease) in credrtors 1102,380) 32.179 69,S36 {115,2601 Cash generated from operations 143.885 230,609 -26-