ESK VALLEY TRUST SCIO
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
Scottish Charity Number SC031951
ESK VALLEY TRUST SCIO
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
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|Trustees’|report|1|
|Independent examiner's|report|6|
|Statement of Receipts|and|Payments|7|
|Statement|of Balances|8|
|Notes|to the|financial|statements|10|
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ESK VALLEY TRUST SCIO TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees are pleased to present their report and financial statements for the Scottish Charitable Incorporated Organisation (SCIO) for the year ended 31 December 2025 including an Independent Examiner's Report on the Accounts.
OBJECTIVES
The charitable objectives of the Esk Valley Trust are to stimulate public interest and care for the beauty, history and character of the valleys of the Rivers Esk and their surroundings in the Lothians of Scotland. In particular the Trust aims to:
a) promote and encourage responsible access and sustainable public amenities in the Esk rivers’ catchment areas for the benefit of local communities and others and
b) enhance awareness and appreciation of the natural and social histories of the Esk valleys and their environs.
MEMBERSHIP
The membership management system ‘membermojo (Esk Valley Trust_(membermojo.co.uk)) is now established as the main subscription option which simplifies the management of subscriptions. There are currently only five members who require communication by post. In 2024 we welcomed 16 new members. At the end of 2025 the number of members had risen marginally to 102. Of these 22 have not subscribed in the year.
We continue with our convention of only removing members from the list if they have not paid their annual contributions for more than two years.
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2025 2024
Number number
Family 33 31
Individual 47 52
Unpaid 22 17
Total 102 100
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ANNUAL GENERAL MEETING
The AGM was held on 16 May 2025 by Zoom. More than 15 members of the Trust were present. Papers for the meeting had been available on the website for more than two weeks before the meeting and were circulated by email or post to all members. The draft Minutes of the meeting are on the website (Esk Valley Trust - Home).
ACTIVITIES
- In line with our charitable objectives the Trust activities fall, broadly, under four headings: e Securing continuous paths along the Esk rivers e Managing the land that we own (the Hewan Wood and, since March 2024, the Hewan Bog) e Promoting interest in the Esk valleys through public lectures, our website and other events e Hosting the Riverfly on the Esk group of citizen scientists
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ESK VALLEY TRUST SCIO TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
Securing continuous paths along the Esk rivers
A new, short section of path was created in the Hewan Bog to replace a section of path along the North Esk River that had suffered a dangerous landslip. Otherwise there was no substantial change to the paths network
Managing the Hewan Wood and the Hewan Bog
The Trustees have continued to develop long-term plans for the Hewan Bog in tune with the Hewan Wood and the other parts of the corridor of ancient woodland through Roslin Glen. Plans for a network of ponds to enhance biodiversity have been made with significant input from Froglife. Realisation of those plans is currently awaiting funding decisions by Froglife.
The Forth Rivers Trust is coordinating a new project (The Lothian Esk Catchment Partnership) and the Trustees have engaged closely with that new enterprise with a view to accelerating our plans for the long term management of the Hewan Wood and Bog. Routine maintenance of the pathways through our land holdings (including reparations as a result of vandalism) was, once again facilitated by assistance from the Midlothian Ranger’s Paths Team and is gratefully acknowledged.
Promoting interest in the Esk Valleys
Evening talks continue to be a major activity to promote interest in the Esk Valleys. Including the AGM, six presentations were made by Zoom this year. Zoom talks generally attract around 50-90 registrations. Where speakers agree Zoom talks are recorded and placed on the website in the ‘Stories of the Esk’ section which, over time, is intended to create a freely accessible library of talks about topics relevant to the Esk valleys.
The Riverfly on the Esk group continues to monitor water quality regularly at 16 locations along the North and South Esk rivers with the help of volunteers. More volunteers have been trained during the year taking the total to over 60. Ten have completed MoRPh training.
The Trust responds to public consultations as appropriate.
Personnel
We were delighted to welcome three new Trustees to the Board this year: Laura Burnett, Lesley King and Peter Morris. Laura, Lesley and Peter bring a wealth of experience in various aspects of environmental management, ecology and plant science which is helping greatly with the strategic planning for our land assets in particular. Roger Crofts stood down as a normal Trustee at the AGM and was immediately co-opted to continue to work with the Board on the planning for the Hewan Bog. Roger continues to support the work of the Trust strongly in this revised role.
FINANCIAL REVIEW
Since conversion of the Trust to become a SCIO the annual accounts are presented on a Receipts and Payments basis.
The charity funds its activities by donations, subscriptions and grants. The result for the year was a surplus of £4920 (2024: £723 deficit).
Unrestricted receipts during the year were £2846 (2024: £1792), with payments of £491 (2024: £441). The increase in receipts was largely the result of the recovery of Gift Aid from subscriptions over the last four years.
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ESK VALLEY TRUST SCIO TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
At the year end, the unrestricted reserves were £15544 (2024: £13189), restricted reserves were £9493 (2024: £6928) and permanent endowment reserves were £63771 (2024: £63771). Since 2024 Endowment reserves include the nominal value of the Hewan Bog. Total funds, including land holdings amounted to £88858 (2024: £83989).
Reserves Policy
The charity has no staff, leasing or other significant commitments and is able to manage expenditure according to available funds. It is our policy to hold minimal reserves in order to meet annual administrative costs in the event of a loss of income but otherwise to use available funds for specific activities as appropriate to the pursuit of our charitable objectives. At the end of the reporting year the free reserves of the charity are £15544 (2024: £13189). Any decisions on the future use of these reserves will be made by the Trustees.
Risk Management
The Trustees confirm that the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, have been reviewed and systems have been established to mitigate them. The Risk Register is reviewed by the Trustees at least once per year.
PLANS FOR FUTURE PERIODS
The charity plans to continue with its activities as outlined above and work towards realising the charity’s longterm charitable objectives.
STRUCTURE AND GOVERNANCE
Governing Document
The Esk Valley Trust was first formed as a Limited Company in 2002. Following due process, the Trust converted from a Limited Company to a Scottish Charitable Incorporated Organisation (SCIO) in 2019 and its Constitution was revised accordingly. The Esk Valley Trust was registered as a SCIO on 1 August 2019.
The Trust retains its registration as a Scottish registered charity (number SC031951).
Recruitment and Appointment of Trustees
Individuals who are committed to the objects of the charity are admitted to the membership of the organisation. Thereafter a member can be proposed and elected as a Trustee at the AGM to serve on the board. Three new Trustees were welcomed to the Board in 2025.
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ESK VALLEY TRUST SCIO
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
STRUCTURE AND GOVERNANCE (continued)
Trustees’ Induction and Training
Any newly appointed Trustee is offered induction and training to cover the following:
- e Brief history of the charity e Copy of the founding document e Guidance on the duties and responsibilities of charity Trustees e Copy of the most recent financial statements e Any other relevant documentation
Executive Committee
The Executive Committee met four times during the year (not including the AGM). The agenda of the meetings covers all the Trust's areas of responsibility and considers in detail finance and risk, membership, project activities and publicity all in the context of the Trust's charitable objectives.
Organisational Structure
The SCIO was incorporated on 1 August 2019 as a result of the conversion from the previous status of that of a charitable company (Company number: SC218056, Company name: Esk Valley Trust Company Limited).
The trust is governed through the Executive Committee, which may include non-Trustees with areas of certain expertise. The charity’s policy is guided by the Executive Committee responding to input both from individual members and the prevailing environment of relevant information. Any major issues that affect policy are presented to the AGM for discussion.
REFERENCE AND ADMINISTRATIVE INFORMATION
The Trustees
The Trustees who served the charity during the year to 31st December 2025 and to the date of signing the accounts were as follows:
Professor John Oldham
Mrs Pat Crawford
Mr Peter Raine
Professor Roger Crofts (stood down at the AGM on May 16th but was immediately co-opted specifically to assist with the development of strategy for the Hewan Bog)
Mr Nigel Evans
Ms Laura Burnett (Appointed 16 May 2025)
Mrs Lesley King (Appointed 16 May 2025) Dr Peter Morris (Appointed 16 May 2025)
Address & Registered Office 45 Polton Road Loanhead Midlothian EH20 9BD
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ESK VALLEY TRUST SCIO
TRUSTEES’ REPORT
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FOR THE YEAR ENDED 31 DECEMBER 2025
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independent Examiner
Mr Andrew Turton C.A.
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Bankers Clydesdale Bank PLC
Virgin Money,
83, George Street,
Edinburgh, EH2 3ES
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ACCOUNTS PREPARATION
The Trustees confirm that the accounts for the year ended 31 December 2025 have been prepared so as to comply with current statutory requirements and the SCIO’s own goveming document.
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Registered Office: Signed by order of the Trustees
45Loanhead Polton Road rfV4el& foe i Qt‘
Midlothian i
EH20 9BD ¥
Péfer Raine
Trustee
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Approved by the Trustees on H Fs run, 2026
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2025
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Report to the - i OO _ - |
trustees/members of | ESK VALLEY TRUST
Registered charity - - ; <=; += |
mumber | 80031951 . Oo
Onthe accounts of __—Period start date oa | ; Period end date -
the charity forthe — Day Month __ Year Day Month __ Year
parc) January 2025 to 31 December 2028
Set out on pages | 7015 chen satu ace
Respective The charity's trustees are responsible for the preparation of the accounts in
responsibilities of _accordance with the terms of the Charities and Trustee Investment (Scotland)
trustees and 2005 Act and the Charities Accounts (Scotland) Regulations 2006 (as
examiner amended). The charity trustees consider that the audit requirement of
Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my
, fesponsibility 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 My examination is carried out in accordance with Regulation 11 of the 2006
examiner's statement Accounts Regulations. An examination includes a review of the accounting
records kept by the charity and a comparison of the accounts presented with
' those records. It also includes consideration of any unusual items or
disclosures in the accounts and seeks explanations from the trustees
concerning any such matters. The procedures undertaken do not provide all
the evidence that would be required in an audit and, consequently, | do not
' express an audit opinion on the view given by the accounts.
___Independent in the course of my examination, no matter has come to my attention
examiner's statement
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which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
-
- to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
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2. to which, in my opinion, attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
=< praten WO Date: 40 March 2026
Relevant professionalName: Andrew Turton © a ; - : ;
qualification(s) or ics - The institute of Chartered Accountants of Scotland
body (if any):
Address: 7 Ferryhills Road .
North Queensferry Oe
KY11 1HE a ;
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ESK VALLEY TRUST SCIO
SECTION A - STATEMENT OF RECEIPTS AND PAYMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
| StatementofReceipts and Payments | StatementofReceipts and Payments | |||||||
|---|---|---|---|---|---|---|---|---|
| Forthe yearended December2025 | ||||||||
| Notes | Unrestricted Funds £ |
Restricted Funds £ |
Endowments £ |
2025Total £ |
2024 Total £ |
|||
| Receipts | 1 | |||||||
| Voluntary Income | 1726 | 0 | 0 | 1726 | 1592 | |||
| Grants and other income | 1120 | 3147 | 0 | 4267 | 200 | |||
| Bequests | 0 | 0 | 0 | 0 | 0} | |||
| TotalReceipts | _ | ___ | 2846 | _ 3147 | 0 | 5993 | 1792 | |
| Payments | 2 | |||||||
| Payments relating directlytocharitable | 491 | 582 | 0 | 1073 | 2515 | |||
| activities | ||||||||
| TotalPayments | eee | — | LO | 10738—~S 2515 | ||||
| Netreceipts | 2355 | 2,565 | 0 | 4,920 | (723) |
All the activities of the charity are classed as continuing.
The notes on pages 10 to 15 form part of these financial statements
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ESK VALLEY TRUST SCIO SECTION B - STATEMENT OF BALANCES
AS AT 31 DECEMBER 2025
| Statement of Balances | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Fortheyearended December2025 | ||||||||||
| Ncaes | Unrestricted Funds £ |
Restricted Funds £ |
Endowments £ |
2025Total £ |
2024 Total £ |
|||||
| B.1.1 Cash Funds | ||||||||||
| Cash and bank balance atstart ofyear | 3 | 13189 | 6928 | 0 | 20117 | 20840 | ||||
| Surplus/(Deficit) on R&PAccount | 2355 | 2,565 | 0 | 4,920 | (723) | |||||
| Cash and bank balance atend ofyear | : | _ | __ 15544 | 9493, | QO—-25037 | 20117 | ||||
| B1.2 Bank Balances | ||||||||||
| Cash atBank | 15544 | 9493 | 0 | 25037 | = | =20117 | ||||
| 94508720117 | ||||||||||
| B2 Investments | The Trust has | no investments held | to | generate income | ||||||
| B3 Other Assets | ||||||||||
| TangibleAssets -HewanWood TangibleAssets -Hewan Bog |
5 | 28771" 35000” |
28771 35000. |
28771 35000 |
||||||
| TangibleAssets -timber stock forstep | 50 | 50 | 100 | |||||||
| maintenance | ||||||||||
| S782 | ||||||||||
| B4 Liabilities | The Trust has | nocurrent liabilities | ||||||||
| B5ContingentLiabilities | TheTrusthas | nocontingentliabilities. |
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ESK VALLEY TRUST SCIO
SECTION B - STATEMENT OF BALANCES
AS AT 31 DECEMBER 2025
The Trustees acknowledge their responsibilities for:
-
e Ensuring that the company keeps accounting records which comply with The Charities Accounts (Scotland) Regulations 2006;
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e Preparing financial statements on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)
These Financial Statements were approved by the Trustees on 4 February 2026 and are signed on their behalf by;
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_— \
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~
fn
Professor J Oldham
Trustee and Chair
The notes on pages 10 to 15 form part of these financial statements
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ESK VALLEY TRUST SCIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ACCOUNTING POLICIES
Basis of accounting
These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)
Fixed assets
Fixed assets are recorded at cost, except for equipment which was acquired by the predecessor charitable company and which had been fully depreciated at 1%* August, 2019, the date of conversion to a SCIO.
The Trustees do not adopt a policy of revaluation of its heritage assets. Any improvements carried out to the land, including upgrading of paths/signs are written off as expenditure in the year incurred.
Income
- e All income is included in the Statement of Receipts and Payments when received. e The value of services provided by volunteers has not been included in these accounts, except to the extent recognised and recovered by grant funding.
Expenditure
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e All costs have been directly attributed to one of the functional categories or resources expended in the Statement of Receipts and Payments.
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e Expenditure on charitable activities includes the costs incurred by the charity in delivery of its activities and services to its beneficiaries and their associated support costs, including governance costs.
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e Governance costs comprise those cost associated with meeting the constitutional and statutory requirements of the charity, including independent examination fee and strategic management costs.
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e The charity is not registered for VAT and accordingly, costs are incurred gross of irrecoverable VAT.
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ESK VALLEY TRUST SCIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ACCOUNTING POLICIES (continued)
Unrestricted Funds
Unrestricted funds are grants and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Restricted Funds
Restricted funds are to be used for specific purposes as laid down by the donor and/or Trustees. Expenditure which meets these criteria is charged to the fund together with a fair allocation of management and support costs.
Endowment Funds
The permanent endowment funds are funds that must be permanently maintained and represent the freehold property acquired to be used indefinitely for the purposes of the charity.
Notes:
1 RECEIPTS
| Note 1 | ||
|---|---|---|
| RECEIPTS | ||
| Total 2025 | Total 2024 | |
| £ | £ | |
| Unrestricted | ||
| Voluntaryincome (Unrestricted) -comprises membership fees and donations |
1726 | 4592 |
| Donations outwith membership (Unrestricted) | 150 | 200 |
| GiftAid Receipts from HMRC | 970 | |
| Restricted | ||
| Grants: | ||
| -Woods inandAroundTowns (WIAT) | 1947 | 0 |
| - Midlothian CommunityAction (to Riverfly) | 1200 | |
| TOTALS | ___ 5993 | 1792 |
The WIAT grant relates to activities in the Hewan Wood
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ESK VALLEY TRUST SCIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
2. PAYMENTS RELATING DIRECTLY TO CHARITABLE ACTIVITIES
| Note 2 | |||
|---|---|---|---|
| PAYMENTS relating directly to charitable | |||
| activities | |||
| Total 2025 | Total 2024 | ||
| £ | € | ||
| Unrestricted | |||
| Website | 240 | 120 | |
| Meeting expenses | 156 | 226 | |
| Path Management | 0 | 0 | |
| Membership management | 95 | 95 | |
| TOTAL Unrestricted | 491 | 441 | |
| Restricted | |||
| Insurance | 358 | 358 | |
| Riverfly costs | 45 | 626 | |
| Hewan Wood WIAT Grant Costs | 179 | 379 | |
| Legal Costs | 710 | ||
| TOTALRestricted | 582 | ~~ | 2074 |
Insurance costs are allocated to Restricted funds as the insurance largely relates to activities in the Hewan Wood, the Hewan Bog and to Riverfly.
The Legal Costs were those associated with the acquisition of the gift of the Hewan Bog.
3. CASH AND BANK BALANCES
Cash and Bank Balances are reported strictly on a Receipts and Payments basis.
4. EMPLOYEES AND TRUSTEES’ REMUNERATION
The charity has no employees. No fees have been paid to Trustees. All Trustees act without remuneration.
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ESK VALLEY TRUST SCIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
5. TANGIBLE FIXED ASSETS
The Hewan Wood, beside the North Esk near Polton in Midlothian was acquired by the charity in March 2002. The wood is a heritage asset and the Trust would never wish to sell the site. The endowment value of the site is recorded at the original cost of the wood (£28,771) with no re-evaluation.
The Hewan Bog was acquired in 2024 asa gift from the estate of the late Professor David Baird. It is valued at its last sale price (the price paid by Professor Baird when he bought it) of £35,000. As with the Hewan Wood the Hewan Bog is a heritage asset and the Trust would never wish to sell the site.
Computer equipment costing £1,182 was acquired by the predecessor charitable company and had been fully depreciated at 1st August, 2019, the date of conversion to a SCIO. The computer remains in use by the SCIO.
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ESK VALLEY TRUST SCIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
| 6. MOVEMENT IN FUNDS |
||||
|---|---|---|---|---|
| Note 6 | ||||
| MOVEMENT IN FUNDS | ||||
| Balanceat1 | Income | Expenditure Balance at 31 | ||
| January | £ | £ | December | |
| 2025 £ | 2025 £ | |||
| UnrestrictedFunds | ||||
| General Funds | 13189 | 2846 | (491) | 15544 |
| RestrictedFunds | ||||
| HewanWood Funds | 4815 | 1947 | (537) | 6225 |
| lronmills ParkAccess Campaign | 1000 | 0 | se) | 1000 |
| Rennie FrazerBequest | 1340 | 0 | 0 | 1340 |
| Riverfly | (227) | 1200 | (45) | 928 |
| TotalRestricted | 6928 | 3147. | (582) (9493 | |
| EndowmentFunds | ||||
| HewanWood | 28771 | 0 | 0 | 28771 |
| Hewan Bog | 35000 | 0 | 0 | 35000 |
| TotalEndowment | 63771 | QO. | oO | 63771 |
| OtherAssets | ||||
| Timberstock for step maintenance | 100 | 50 | ||
| TOTALFunds | 83988 | 5993 | (1,073) | 88858 |
Restricted Funds
Hewan Wood Fund
Funds specified for the upkeep of Hewan Wood.
lronmills Park Access Campaign
Funds to campaign for improved access to lronmills Park, which has been restricted as a result of the new Borders railway line.
Rennie Frazer Memorial
Following the tragic death of the long-time Treasurer of the Trust in October 2021 a number of donations were made to the Trust in his memory. Subsequently a bequest to the Trust of £1500 was made from Rennie’s estate. With the agreement of Rennie’s widow funds from this bequest were used to pay for the legal costs associated with the acquisition of the Hewan Bog asa gift.
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ESK VALLEY TRUST SCIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Riverfly
Since becoming part of the Esk Valley Trust in 2021 the Riverfly on the Esk project is accounted for as a discrete entity.
Endowment Funds
The Hewan Wood was purchased by the Trust in 2002 using grants from a number of sources (including the Copley Trust, the Hobart Trust, SNH and others) plus public donations. The Wood was purchased for public benefit; the intention is that it will remain an asset of the Trust for the long term and its recorded value is based on the original purchase price with no inflationary adjustment. The maintenance of the woodland, paths and fencing are a continuing charge on the resources of the Trust.
The Hewan Bog was acquired asa gift in 2024 and, like the Hewan Wood, will remain an asset of the Trust for the long term. It is valued at its last sale price (the price paid by Professor Baird, from whose estate the land was gifted, when he bought it) of £35,000.
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