Registration Number SC179736 Scottish charity number: SC027163
Seagull Trust Cruises (Company limited by guarantee)
Directors' Report and Financial Statements
for the year ended 31 October 2025
Seagull Trust Cruises
Contents
| Page | |
|---|---|
| Directors' Report - reference & administrative information | 1 |
| Directors' Report - other information | 2 - 4 |
| Chairman's Report | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 - 8 |
| Balance Sheet | 9 - 10 |
| Notes to the Financial Statements | 11 - 13 |
Seagull Trust Cruises
Directors' Report
for the year ended 31 October 2025
The directors present their report and financial statements for the year ended 31 October 2025.
The report is prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (revised 2005).
The principal activity of the company during the year was to provide free canal cruising for people who have special needs.
Reference and administrative information
Directors serving during the year:
David Mieras Chairman, Resigned 31st March 2026 Ian James Young Vice Chairman Kathryn Allardice Hon. Secretary, appointed 1st April 2025, resigned 31st March 2026 Donald Paterson Treasurer Andrew Milner Ian Singleton John Sime Donald Steel Ramsay Mcghee Duncan Sutherland Graham Biggerstaff Resigned 31st March 2026 Claude Stewart Resigned 31st March 2026 Richard Masters Appointed 31st March 2026 Carol McLellan Linda Munro Appointed 5th May 2025 Stuart Rennie Resigned 1st April 2025
The directors are the members of the company. No director had a financial interest in the company.
The charity is a company limited by guarantee, governed by its Memorandum and Articles of Association.
Legal Status The charity is a company limited by guarantee, governed by its Memorandum and Articles of Association. Company number SC179736 Scottish Charity Number SC027163 Date of incorporation 16 October 1997 Registered Office The Boathouse, South Bantaskine Road, Bantaskine Estate, Falkirk, Scotland, FK1 5PT
Business Addresses Southbank Marina, 100 Southbank Road, Kirkintilloch, G66 1LX
The Boathouse, South Bantaskine Road, Bantaskine Estate, Falkirk, Scotland, FK1 5PT Canal Side, Baird Road, Ratho, EH28 8RA
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Seagull Trust Cruises
Directors' Report for the year ended 31 October 2025
Structure, governance and management
The company operates through Branches established at Falkirk, Inverness, Kirkintilloch and Ratho.
Directors are normally proposed and elected at the company's Annual General Meeting. Each of the Branches may appoint up to two directors. The minimum number of directors is ten and there is no maximum number
Risk management
The Directors continue to review the major strategic business and operational risks that the company faces on a regular basis and where possible, have established systems to monitor and mitigate these risks.
Induction and Training
The current Directors have been made aware of their duties and responsibilities and of the standards expected by OSCR.
Objectives, activities and achievements
Objectives
The principal activity of the company is to provide free canal cruising for people who have special needs.
Activities
All the company's activities are run entirely by volunteers. The company owns & operates 9 wide beam canal boats.
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Seagull Trust Cruises
Directors' Report for the year ended 31 October 2025
Financial review and performance
Accounts
The company's total incoming resources for the year amounted to £233,717 (2024: £131,524). Charitable expenditure amounted to £105,893 (2024: £162,935).
The company's funds at 31 October 2025 totalled £1,274,858 of which the general funds were £236,331 in line with the reserves policy as noted below.
Investment policy
The company has invested one sixth of its cash resources in M & G Charifund with the remaining five sixths held as cash, distributed across accounts with major banks.
Reserves policy
The Directors, being aware of the inconsistent cash flow from voluntary donations, have a policy of maintaining unrestricted liquid reserves to cover at least six months' average expenditure and have established funds to provide for future major repairs and refits.
Future plans
The directors are satisfied that the company remains on a sound financial footing and will be able to continue its activities for the foreseeable future.
Transactions with Directors or Trustees
There were no transactions with the directors or trustees during the year.
Directors' responsibilities
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the company and of the surplus or deficit of the company for that year. In preparing these the directors are required to:
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue on that basis.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved on and signed on behalf of the Board of Directors by:
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Seagull Trust Crllises Mr D Mieras Chairman Page 4
Seagull Trust Cruises
Chairman's Report for the year ended 31 October 2025
Chairman's Report
Activity on our cruises is largely back to pre-pandemic levels with healthy bookings throughout the season. This will be my final report as Chairman. I have decided that after my long (and happy) tenure as Chair, it is at last time to stand down. Therefore, I do not intend to stand for re-election at the AGM in April.
It just remains to thank each and every one of you for all your hard work and support in our joint efforts to steer this rather wonderful charity of ours. It has been a pleasure
The Branch statistics:
| Cruises Adults Wheelchairs Children Total Passengers |
Falkirk Highland Kirkintilloch Ratho Total |
|---|---|
| 540 137 454 679 1,810 4,263 1,099 3,860 5,451 14,673 459 91 507 743 1,376 725 68 241 342 1,800 4,988 1,167 4,101 5,793 16,049 |
Mr David Mieras Chairman
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Seagull Trust Cruises
Independent Examiner's Report to the Trustees of Seagull Trust Cruises
I report on the accounts of the charity for the year ended 31 October 2025 which are set out on pages 9 to 14.
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. 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 Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and 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 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
have not been met.
In my opinion there are no other matters to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Craig J. Allison FCCA 16-18 Weir Street Falkirk FK1 1RA
Date:
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Seagull Trust Cruises
Statement of Financial Activities
(including Income and Expenditure Account)
for the year ended 31 October 2025
| General | General | Designated | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| Fund | Fund | Fund | Fund | 2024 | |||||
| £ | £ | £ | £ | £ | |||||
| Incoming resources | |||||||||
| Incoming resources from generated | |||||||||
| funds | |||||||||
| Income from investments | 6,913 | - | - | 6,913 | 5,571 | ||||
| Subscriptions and donations | 170,569 | 10,000 | 25,000 | 205,569 | 108,929 | ||||
| Sale of goods | 10,187 | - | - | 10,187 | 4,609 | ||||
| Fundraising income | 5,319 | - | - | 5,319 | 6,305 | ||||
| Hire Income | - | - | - | - | 250 | ||||
| Art Gallery Commision/ Book Shop | - | - | - | ||||||
| Drydock income | 5,729 | - | - | 5,729 | 5,860 | ||||
| Total incoming resources | 198,717 | 10,000 | 25,000 | 233,717 | 131,524 | ||||
| Resources expended | |||||||||
| Charitable expenditure | |||||||||
| Cost of generating funds | (9,736 | ) | (9,736 | ) | (12,413 | ) | |||
| Operational costs* | (73,528 | ) | (48,561 | ) | - | (122,089 | ) | (129,531 | ) |
| Support costs | (18,961 | ) | - | (18,961 | ) | (17,929 | ) | ||
| Governance costs | (3,668 | ) | - | - | (3,668 | ) | (3,064 | ) | |
| Total resources expended | (105,893 | ) | (48,561 | ) | - | (154,454 | ) | (162,937 | ) |
| Net movement in funds for the year | 92,824 | (38,561 | ) | 25,000 | 79,263 | (31,413 | ) | ||
| Fund transfers | 109,000 | 109,000 | - | - | - | ||||
| Net income / (deficit) for the year | (16,176 | ) | 70,439 | 25,000 | 79,263 | (31,413 | ) | ||
| Funds brought forward: | |||||||||
| General fund | 252,507 | 938,936 | 4,151 | 1,195,594 | 1,227,005 | ||||
| Funds carried forward | 236,331 | 1,009,375 | 29,151 | 1,274,858 | 1,195,594 |
-
- Operational costs include depreciation charged on the charity's assets used in operating activities of £48,561 (2024: £48,856)
The notes on pages 11 to 13 form an integral part of these financial statements.
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Seagull Trust Cruises
Statement of Financial Activities (including Income and Expenditure Account)
for the year ended 31 October 2025
| Represented by : Tangible Fixed Assets Investments Stock Debtors Bank Creditors |
General Designated Restricted Total Fund Fund Fund Fund 2024 £ £ £ £ £ - 615,731 - 615,732 662,646 70,000 70,000 70,000 - - - - - 18,652 - - 18,652 17,960 152,477 393,646 29,151 575,274 454,457 ) (4,800 - - ) (4,800 ) (9,469 236,331 1,009,375 29,151 1,274,858 1,195,594 |
|---|---|
The notes on pages 11 to 13 form an integral part of these financial statements.
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Seagull Trust Cruises
Balance Sheet as at 31 October 2025
| Notes Fixed Assets Tangible assets 3 Investments 4 Current Assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net Current Assets Total Assets Less Current Liabilities Funds: General fund Designated fund 8 Restricted fund Total Funds |
2025 £ £ 615,732 70,000 685,732 18,652 575,271 593,923 ) (4,800 589,123 1,274,858 236,331 1,009,375 29,151 1,274,858 |
2024 £ £ 662,645 70,000 732,645 17,960 454,458 472,418 ) (9,469 462,949 1,195,594 215,271 976,172 4,151 1,195,594 |
£ 662,645 70,000 |
|---|---|---|---|
| 732,645 462,949 |
In approving these financial statements as directors of the company we hereby confirm:
(a) that for the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006;
(b) that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the year ended 31 October 2025 and
(c) that we acknowledge our responsibilities for:
(1) ensuring that the company keeps accounting records which comply with Section 386, and
The notes on pages 11 to 13 form an integral part of these financial statements.
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Seagull Trust Cruises
(2) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus or deficit for the year then ended in accordance with the requirements of Section 394 & 395 and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company.
These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Board on and signed on its behalf by Mr D Mieras Director
Registration Number SC179736
The notes on pages 11 to 13 form an integral part of these financial statements.
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Seagull Trust Cruises
Notes to the Financial Statements
for the year ended 31 October 2025
1. Accounting policies
1.1. Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Companies Act 2006.
The financial statements have been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (revised 2005). They are also prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). In order to comply with this revised statement, it was necessary to change the income and expenditure headings.
1.2. Incoming resources
Voluntary income received by way of donations or gifts, subscriptions, investment income and income from the sale of goods are all included in full in the Statement of Financial Activities when received. The value of services provided by volunteers has not been included.
1.3. Expenditure
All resources expended are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure. Resources expended include attributable VAT which cannot be recovered.
1.4. Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Boathouses - 2% Straight Line Barges 4% Straight Line
Assets transferred from the Seagull Trust on formation of Seagull Trust Cruises have been depreciated at the above rate based on their original cost.
1.5. Investments
Fixed asset investments are stated at cost less provision for diminution in value and represent units held by M & G Charifund.
1.6. Stock
Stock is valued at the lower of cost and net realisable value.
2. Legal status
The company is limited by guarantee, having no share capital. Every member of the company undertakes to contribute such amount as may be required, up to a maximum of £1 each, to the assets of the company if it is wound up whilst that person is a member, or within one year of the cessation of that person as a member, for payment of the company's debts and liabilities and the costs, charges and expenses of winding up and for the adjustment of the rights of the contributors amongst themselves.
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Seagull Trust Cruises
Notes to the Financial Statements for the year ended 31 October 2025
.................... continued
3. Tangible fixed assets
| Boathouses £ At 1 November 2024 611,247 Additions - At 31 October 2025 611,247 Depreciation At 1 November 2024 249,572 Charge for the year 15,473 At 31 October 2025 265,045 Net book values At 31 October 2025 346,202 At 31 October 2024 361,675 |
Barges Equipment Total £ £ £ 822,623 14,402 1,448,272 1,645 - 1,645 824,268 14,402 1,449,917 521,651 14,401 785,624 33,088 - 48,561 554,739 14,401 834,185 269,529 1 615,732 300,972 1 662,648 |
Barges Equipment Total £ £ £ 822,623 14,402 1,448,272 1,645 - 1,645 824,268 14,402 1,449,917 521,651 14,401 785,624 33,088 - 48,561 554,739 14,401 834,185 269,529 1 615,732 300,972 1 662,648 |
|---|---|---|
| 785,624 48,561 |
||
| 834,185 | ||
| 615,732 | ||
| 662,648 |
4. Fixed Asset Investments
| Other | Other | Total | Total | |
|---|---|---|---|---|
| Investments | ||||
| £ | £ | |||
| Cost | ||||
| At 1 November 2024 | ||||
| At 31 October 2025 | 70,000 | 70,000 | ||
| Net book values | ||||
| At 31 October 2025 | 70,000 | 70,000 | ||
| At 31 October 2024 | 70,000 | 70,000 |
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Seagull Trust Cruises
Notes to the Financial Statements for the year ended 31 October 2025
.................... continued
5. Debtors
6.
| Debtors | ||
|---|---|---|
| Prepayments and accrued income Creditors: amounts falling due within one year Accruals and deferred income |
2025 £ 18,652 2025 £ 4,800 |
2024 £ 17,960 |
| 2024 £ 9,469 |
7. Going concern
The board is satisfied that they have enough liquid reserves to continue to fund the charity for at least three years therefore there is no doubt as to the ability to continue as a going concern.
8. Designated funds
| Opening | Closing | ||||
|---|---|---|---|---|---|
| Balance | Income | Expenses | Transfer | Balance | |
| £ | £ | £ | £ | £ | |
| Fixed assets | 662,647 | - | ) (48,560 |
1,645 | 615,732 |
| Falkirk Boathouse | 160,000 | - | - | 38,355 | 198,355 |
| Kirkintilloch Boat Fund | 23,791 | - | - | 40,000 | 63,791 |
| Ratho New Boat | 92,500 | 10,000 | - | 29,000 | 131,500 |
| Balance carried forward | 938,937 | 10,000 | ) (48,560 |
109,000 | 1,009,375 |
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