Charity registration number SC029869 (Scotland) NEWTON STEWART INITIATIVE scio ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NEwfoN STEWART INITIATIVE scio LEGALAND ADMINISTRATIVE INFORMATION Trustees Charity number (Scotland) SC029869 Key Management Personnel Principal address Newton Stewart Centre Church Street Neon Stewart DG8 6ER Independent examlner Montpelier Professional (Galloway) LimFted 1 Dashwood Square Newton Stewart DG8 6EQ Bankers Virgin Money 43 Alloway Street Ayr KA7 1SP
NEWTON STEWART INITIATIVE scio CONTENTS Page Trustees, report Stalement of trustees, responsibilities Independent examinevs report ststement of financial a¢tivtties Balance sheet Notes to the financial 5tstements 9-20
NEWTON STEWART INITIATIVE scio TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance wtth the accounting policies set out in note 1 to the financial statements and comply wth the Charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charib'es Accounts (Scotland) Regulations 2006 (as amended) and "A¢counting and Reporting by Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019}. Objectives and activities The Charity's aim is the advancement of community development (including the advancement of rural regeneration) wtthin the community. The Charity's objects are.. Develop opportunities for an inclusive Community which can ¢ater for all needs. Advance community wellbeing encompassing both physical and mentally stimulating which includes tsGkling loneliness. Provide a resilience service to the communty. Promote and engage in environmental activities. It is our vision that NSI will bring together the aspirations, enthusiasm, skills and experience of the people of Newton Stewart to Greate the vehicle of Ghange that will see our town revitali5ed and turned into a town that is growing in prosperity. Public benefrf The trustees have referred to the guidance contained in the Office of the Scottish Charity Regulator's general guidance on public benefit when reviewng their obje¢tives and in planning their future activities. In particular, the trustees Consider how planned activities will contribute to the objectives they have set Grdnt making policy The charity also distributes small grants to local groups, organisations and individuals from funds which has been generated through the Initiative's Community Shop.
NEWTON STEWART INITIATIVE scio TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and parfomiance Signrficant activities and 8chievemenls against objectives Neon Stewart Inrtiative has continued to focus on several projects this year whilst also Completing a couple of ongoing projects. The Local Place Plan was signed off by D8G Council in September 2024. The Changing Places Toilet has been completed and is now under the ownership of NSI. We have Continued to use Vibe 75 as community hub and are in the process of applying for planning permission for the renovallon which will allow a Ilft and reconstruction of the first floor which will become a dedicated youth space. We continue to try to secure funding for the Grapes Hotel Project, to convert the ground floor into a larger community shop and sorting room and the upper floors into four affordable housing units. The funding environment has become increasingly ¢ompetitive and although we have encountered a few sts'cking points we continue to engage with planning. SEPA and funders to overcome them. Our Community Asset Transfer Stage 2 for the Old Town Hall (clock building) has been approved by Wigtown Area Committee. NSI have requested a 25 year lease on the building at £1 per year with a lon*term aim of purchasing the building. This building wll become a Community Information Hub for residents and visrtors alike and will become Newton Stewart Initiatives Administration OffiGe. The NSI Youth Work Project, developed in partnership with Dumfries and Galloway Councils Youth Work Team, has grown over the past yeer, with the addition of Matthew Robinson as part time Youth Work Ctrordinator, and continues to build on the strong partnership between the groups. Our Young Youth Worker programme, which began in 2023, is now on its third cohort of 16-18 year olds who work closely wtth younger people through or9anised groups and activities and detached youthwork. Happy Daze Project, set up by our trustee eltvers a monthly group for the older residents in town and ontinues to develop with outreach work, visiting local care homes and day centres. Future Builders from join them every month to provide teas, coffees and light refreshments encouraging intergenerational relationships The Newton Stewart Communty Shop. managed by truste continues to address needs within the community, providlng high quality reuseable goods at afft)rdable prices, giving away free school unifonns to families in need and building our volunteer base through which we are addressing social isolation Issues and offering work experience to a range of people. 11 works closely with the other charity shops in town too. The Comrrnjnity Shop Is the cornerstone of the organisation bringing in a regular income which will Sustain the Initiative for years to come. The Inltlative continues to keep the community involved through updating the NSI website and sharing events and servi5 through the Newton Stewart. Org webstte. A bi-annual fyer, vthich is delrvered to every DG8 postcode in March and October began in October 2024 and is organised by our trustee, We have expanded our staff team this year from part tlme staff to four. in¢reasing employment opportuniti'es and increasing our Capacity to delivef the projects needed for our Community and will be looking to expand fijrther later this year. We have seven twstees who are committed and dedicated to supporting the Initiative in the work it does. Chairman, Newton Stewart Initiative Financial review The charity had another large increase in in grant fvnding during the year a$ a consequence of the restricted funding as detailed in note 18 of the financial statements. Hall hire income has increased, however unfortunately the charty shop income reduced. The chartty had net movement in funds deficlt of £78,518 {2024". surplus £61,942) At the year end there were unrestricted fvnds of £51,128 and restricted funds of £38,286
NEwfoN STEWART INITIATIVE scio TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Reserves polry It Is the policy of the Charity that unrestricted funds not invested in fixed assets and which have not been designated for a specific use should be maintained at a level equivalent lo six month's unrestricted expenditure, estimated at £20,000. The trustees Considers that reserves at this level will ensure that, in the event of a significant drop in fijnding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained and exceeded (£28,427) throughout the year. The trustees are comfortable with this position. Investment policy Under the constitution, the charty has the power to make investments which the trustees see for the furtherance of the objeclives of the charity. Major risks The trustee8 have assessed the major risks to which the Charty is exp03ed, and are sat15fied that systems are in place to mitigate exposure to the major risks. Plans for fiituro p•riods The future plans of Newton Stewart Initiative are: To continue our successful delivery of youth work in partnership wrth other organisations. To Continue supporting the community wllh projects through advice and support. To continue working on the purchase and renovation of the Grapes Hotel. To continue planning and delivering community events. To grow our membership. To tum the Old Town Hall into a central community infomiation hub Structure. govemance and management The Charity is a Scottish Charitable Incorporated Organisation, having converted from a limited company on 25 March 2021. The charity is govemed by its constitution. The trustees who served durin cial statements were: eGrui men an appointmenl of tmstees The trustees are elected from the members and are appointed in accordance wilh the temis of the constitution. Their induction is handled by existing trustees, and involves discussions in respect of the Current and future activities of the organisation and a review of the accounts and trustee mlnutes. The charity's strategy and objectives are set and revlsed by the trustees.
NEWTON STEWART INITIATIVE scio TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees. report was approv8d by the 8oard of Trustees. Trust•e Date:
NEWTON STEWART INITIATIVE scio STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees are responsible for preparing the Trustees, Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scodand 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 of the Charity for that year. 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- make judgements 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 Concem basis unless it is inappropriate to presume that the Charity Wtll continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charty and enable them to ensure that the financial ststements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charrties Accounts (S¢otland) Regulations 2006 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
NEWTON STEWART INITIATIVE scio INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEwfoN STEWART INITIATIVE I report on the financial statements of the Charity for the year ended 31 March 2025, which are s& out on pages 7 to 20. Respective responsibilities of trustees and examiner The Charty's trustees are responsible for the preparation ofthe financial statements in accordance with the temis of the Charltles 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)(aF(c) of the Charrties Accounts (Scodand) Regulations 2006 does not apply. It is my responsibility to examine the financtal statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention. Basis of Independent examlnerfs statement My examination was carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination indudes a revlew 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 accounls and seeking explanations from you as trustees Goncemlng 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 examinarfs stst8ment Since the Charity has prepared its financial statements on an accruals basis and is also registered in Scotland, the independent examiner must be a member of a body listed in Regulation 11 (2) of Ihe Charities Accounts (Scotland) Regulations 2006. 1 confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies. In the course of my examination, no matter has come to my attention 1. which gives me reasonable ¢ause to believe that in any material respect the requirements: to keep accounting records in accordance with Section 44(1)(a) of the Charrties and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006 and to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scolandl Regulations 2006 have not been met, or 2. to which, in my oplnion, attents'on should be drawn in order to enable a proper understanding of the finanaal statements to be reached. hartered Accountsnts Ireland Montpeller Professional (Galloway) Lirnited 1 Dashwood Square Newton Stewart DG8 6EQ Date".
NEWTON STEWART INITIATIVE scio STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unr8Strictsd Restricted funds funds 2024 2024 Totsl 2025 Notes 2024 Income from: Donations and legacies Charrtable activities Other trading activities 386 7.667 34,433 250,033 4,823 1,092 250,419 12,490 35,525 200 8,282 40,507 142,028 948 1,544 142,228 9,230 42,051 Total income 42,486 255,948 298,434 48,989 144,520 193,509 Expenditure on: Raising funds Charitable activities 2,433 48,401 2,433 374,519 4.375 39,924 326,118 465 86,803 4,840 126,727 Total expenditure 50,834 326,118 376,952 44,299 87,268 131,567 Net incomel(expenditure) (8,348) (70,170) (78,518) 4,690 57,252 61,942 Transfers beeen funds 1,539 (1,539) 2.609 (2,609) Net movement in funds 10 (6,809) (71,709) {78,518) 7,299 54,643 61,942 Reconciliation of funds. Fund balances at 1 April 2024 57,937 109,995 167,932 50,638 55,352 105,990 Fund balances at 31 March 2025 51,128 38,286 89,414 57,937 109,995 167.932 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
NEwfoN STEWART INITIATIVE scio BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 14 22,701 19,930 Current assets Debtors Cash at bank and in hand 15 4,281 67,830 5.803 147,144 Creditors: amounts falling due within one year 72,111 152,747 16 (5,398) (4,745) Net current assets 66,713 148,002 Total assetsloss CUTrgnt liabilitie8 89,414 167,932 The funds of the Charlty Restricted income funds Unrestricted funds 18 19 38,286 51,128 109,995 57,937 89,414 167,932 The financial statements were approved by the trustees on rusteo Trustee
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information Newton Stewart Initiative is a Scottish Charitable Incorporated Organisation. 1.1 Accounting convention The financial ststements have been prepared in accordance with the Charity's constitution, the Charities and Twstee Investment (Scoland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102.} and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice appliGable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for Gharities not to prepare a Statement of Cash Flows. The financial ststements are prepared in sterfing, which is the fun¢tional currency of the Charity. Monetary amounts in these financial statements a rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concem At the time of approving the financial statements. the trustees have a reasonable expectation that the Charty has adequate resources to continue in operational existence for the foreseeable future. Thus the trLL8tees continue to adopt the going concem basis of accounting in preparing the finanGial statements. 1.3 Charitable funds Unrestrrcted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restrrcted funds are set out in the notes to the financial statements. Endowment funds are subject to spe¢rfic Gondttions by donors that the cApital must be maintained by the Charity. 1.4 Income Income is recognised when the Charity is legally entitled to it after any perfomiance Conditions have been met, the amounts can be measured reliably, and it is probable that in¢ome will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless perfomance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otheiSe if the Charity has been notrfied of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expendlture Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued} 1.6 Tangible fixed ass8ts Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the followng bases.. Freehold land and buildings Plant and equipment nil as estimated realisable value greater than book value 200A reducing balance The gain or loss arising on the disposal of an asset is detemiined as the drfference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fjxed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (rf any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other 5hort-temi liquid investments WFth orrginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Qther Financial Instruments Issues, of FRS 102 to all of tts financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes paty to the Contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised Gost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 10-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Basic financial liabllities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities Glassifjed as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course ot operations from suppliers. Amounts payable are classified as current liabilities if payment is due wtthin one year or less. If not, they are presented as non-current liabilities. Trade creditors are reGognised initially at transaction price and subsequendy measured at amortised c05t using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entrtlement is recognised in the period in which the employee's seNices are reGeived. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.11 Retirement benefits Payments to defined contrtbution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may dtffer from these estimates. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects lY that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted Restricted funds funds 2025 2025 Total Unrestricted R8strlcted funds funds 2024 2024 Total 2025 2024 Donations and gifts Grants 386 2,074 247,959 2,460 247,959 200 127 141,901 327 141,901 386 250,033 250,419 200 142,028 142,228 11
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 InGorne from donations and legacies (Continued) Unrestrlcted Restrlcted funds funds 2025 2025 Totsl Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations and glfts Donations The Plunkett Foundation 136 250 2,074 2,210 250 200 127 327 386 2,074 2,460 200 127 327 Grants receivable for corè activities Foundation Scotland National Lottery Community Fund D&G Council The Architectural Heritage Fund The Holywood Trust Cash for Kids Midland Hex Scottish Land Fund Regional Food Fund Galloway Association of Glasgow Uplift Com Fund Tesco Groundwork BSA British Science 7,328 7,328 20,000 20,000 98,926 71,340 98,926 71,340 15,500 14,842 15,500 14,842 4,800 12,500 4,877 4.800 12,500 4,877 85,554 85,554 500 500 21,171 791 21.171 791 791 791 2,439 775 500 500 500 2,439 775 500 500 500 Stranoch Wind Farm Rural Housing Fund Third Sector D&G The Robertson Trust 3,000 10,000 4,726 8,500 3,000 10,000 4,726 8,500 247,959 247,959 141,901 141,901 Income from charltable activities Unrestricted Restricted funds funds 2025 2025 Totsl UnrestrSctsd Restrlctsd funds funds 2024 2024 Totsl 2025 2024 Charttable incomè Hall hi 7,667 4,823 12.490 8,282 948 9,230 12-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from other trading activltses Unrestricted Restricted funds nds 2025 2025 Totsl Unrestricted Restricted funds funds 2024 2024 Totsl 2025 2024 Fundraising events Shop income 1,820 32,613 1,092 2,912 32,613 1,967 38,540 1,544 3,511 38,540 Other trading adivities 34,433 1,092 35,525 40,507 1,544 42,051 Expenditure on raising funds Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restrictsd funds funds 2024 2024 Total 2025 2024 Fundraising and publicity Staging fundraising events Advertising 834 1,599 834 1,599 2,917 1,458 2,917 1,923 465 2,433 2,433 4,375 465 4,840 13-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitsble activities Direct costs DI¢t costs 2025 2024 Direct costs Staff costs Donations Other direct expenses 74,966 7,100 229,463 51,077 2,150 40,769 311,529 93,996 Grant funding of activities (see note 8) 3,250 Share of support and governance costs (see note 9) Support Govemance 58,130 4,860 23,330 6,151 374,519 126,727 Analysis by fund Unrestricted funds Restricted funds 48,401 326,118 39,924 86,803 374,519 126,727 Grants payable Direct costs 2024 Grants to institutions= Chistmas Lights Group 3,250 3,250 14-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support Costs allocated to activltles 2025 2024 Depreciation Rent Postsge & stationery Miscellaneous Electricity Telephone Repairs & renewals Rates Insurance Bank charges Govemance costs 1,696 5,060 5,922 9,404 7,516 3,780 12,655 491 686 {109) 15,889 1,003 1,474 3,463 5,464 2,723 8,068 1,135 6,151 62,990 29,481 Analysed between: Direct costs 62,990 29,481 2025 2024 Governance costs comprise: Accountancy Legal and professional 3,045 12,844 1.320 4,831 15.889 6,151 10 Net movement in funds 2025 2024 The net movement in fvnds is stated after ¢hargingl{crediting): Fees payable for the independent examination ofthe charity's financial statements Depreciation of owned tangible fixed assets 3,045 1,696 1,320 1,003 11 Trustees None of the trustees (or any persons ¢onne¢ted with them) received any remuneration, benefits or reimbursement of expenses from the Charity during the year. No expenses were paid to Trustees during the year, nor the previous year. The charity has Trustee Liability Insurance in place. 15-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Project workers Cleaner Total 10 Employment costs 2025 2024 Wages and salartes other pension costs 74,837 129 50,812 265 74,966 51,077 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows: The Gharity considers that its key management personnel comprises of the twstees, the Project Support Worker and in 2024 only, the Business Development Manager. The total employment benefits including employers National Insurance and employer pension contributions of the key personnel were £12,642 (2024.. £23,891). 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 16-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Tangible fixed assets Freehold land and buildlngs Plant and equipment Total Cost At 1 April 2024 Additions 15,919 6,915 4,467 22,834 4,467 At 31 March 2025 15,919 11,382 27,301 Depreciation and impaimient At 1 April 2024 Depreciation charged in the year 2,904 1,696 2,904 1,696 At 31 March 2025 4,600 4,600 Carrying amount At 31 March 2025 15,919 6,782 22,701 At 31 MarGh 2024 15,919 4,011 19,930 15 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Other debtors 4,281 (397) 6,000 4,281 5,603 16 Creditors: amounts falling due within one year 2025 2024 Trade creditors other Greditors Accruals and defeed income 3,120 378 1.900 3,645 1,100 5,398 4,745 17 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 129 265 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 17-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2024 Incoming resources Resources expended Transfers At 31 March 2025 Douglas Park Project Fomier Grapes Hotel Vibe 75 (Cinnamon) Youth Work Staff - grant funded Place Plan Business development Long Temi Condition Activities Green Fayre Events 25th Anniversay Celebrations 72,449 134,519 35,971 17.139 51,341 8,500 (201,019) (35,970) (11,256) (55,769) (12,808) {1,218} (5,000) 5,949 2,134 20,984 12,019 1.842 8,017 15,017 7,711 624 (1,539) 5,000 567 567 400 400 2,328 750 (2,328) {750) 109,995 255,948 (326,118) (1,539) 38,286 Previous year: At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Douglas Park Project New Community Facility Proje Vibe 75 (Cinnamon) Christmas lights Youth Work Staff - grant funded Place Plan Long Term Condition Activities 35,594 938 73,208 (36,353) 72.449 (938) (904) 6,439 3,250 39,623 20,000 2,000 (3,402) <3,250) (36,124) (7.981) {158) 2,134 18,253 (768) 20,984 12,019 1,842 567 567 55,352 144,520 (87,268) (2,609) 109,995 18-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Restricted funds (Continued) Douglas Park Project- funding this year was for the Inclusive Play Park, and for the Changing Places toilets. Fomier Grapes Hotel - The restoration of the Grapes Hotel Vibe 75 (Cinnamon) - towards equipment and running costs for the Vibe 75 facility. The transfer relates to capital expenditure. Youth Work - Funding from The Holywood Trust and Awards for All towards youth work, including games, trips, equipment etc. The transfer relates to Gapital expenditure. Staff - Grant Funded - towards the salary costs of the Business ManagerlProject Worker covered by the Kilgallioch CBF. Place Plan the local place plan fund was spent on printing and designing draft copies of the Ipp for consultation and final copies for the town. Business Development - towards the creation of an organisational business plan focused on staffing so that stage could be applied for. Long Term Conditions Activities Newton Stewart Initiative received a donation from Building Healthy communities for any project or group which supports people with a long-term condition or illness. We have spent a small part of this on supporting a group with centre fees. This group supports people with a long- lasting mental health issue. Green Fayre - towards the running of the Green Fayre. Events - provided towards the printing Gosts for the event newsletter. 25th Anniversary celebrations - towards the running of the 25th anniversary celebrations. New Community FaGilty Project- previous funding from Investing in Ideas towards a new community building for Newton Stewart. The transfer represents movement to the Vibe 75 fund, which is a new communty facility. Christmas Lights- towards the purchase of Chrislmas Lights for the town display in Newton Stewart. 19 Unrestricted funds The unrestricted funds of the charrty comprise the unexpended balanrRs of donations and grants which are not subject to specific Conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestrrcted funds by the trustees for specrfic purposes. At 1 April 2024 Incoming resources Resources expended Transfers At 31 March 2025 General funds 57,937 42,486 (50,834) 1,539 51,128 Previous year: At 1 April 2023 Incoming resources R8sour¢es expended Transfers At 31 March 2024 General funds 50,638 48,989 (44,299) 2,609 57,937 19-
NEWTON STEWART INITIATIVE scio NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Analysis of net assets between funds Unrestricted funds 2025 Restrictsd funds 2025 Total 2025 At 31 March 2025.. Tangible assets Current assetsl{liabilities) 22,701 28,427 22,701 66,713 38,286 51,128 38,286 89.414 Unrestricted funds 2024 Restricted funds 2024 Totsl 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) 19.930 38,007 19,930 148,002 109,995 57,937 109.995 167,932 21 Related party transactions There were no disclosable related paty transactions during the year {2024 - none). -20-