Registered number: SC222083 Charlty number: SC032050 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Armstrongwatson. Accountants, Business & Financial Advisers THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantee) fQKITCNTS Page Reference and Administrative Details of the Company. its Tnsstees and Advisers Trustees. Report Independent Audltors. Report on the Financial Staternents Consolidated Stalement of Flnanclal Actlvltie5 2-12 13-16 17 Company Statem&nt of Financial Activitles Consolidated Balance Sheet 18 19-20 Company Balance Sheel Consolidated Statement of Cash Flows 21-22 23 Company Statement of Cash Flows Notes to the Financial Statements 24 25-42 THE GLENKENS COMMUNfTY AND ARTS TRUST UMITED (A Company Llmttad by Guarantee) REFERENCE AND ADMINISTRATr￿E DEfAILS OF THE COMPANY, ETS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Trustees T Threadgall PNFryer F Coupar P Lean A Errington J Crooks P Bowes Iresigned 10 De￿mber 20241 S Hart lappoinled 24 February 2025) C Befnhardt lappoinled 24 February 2025) Company reglstered number SC222083 Charlty registered number SC032050 Registered office Catstrand High Street New Galloway Castle Douglas DG7 3RN Independent auditors Amslrong Watson Audit Limited Chartered Accountanis & Stattjtory Audttors 51 Rae Street Dumfries Dumfries and Galloway DG1 1JD Bankers Bank of Scotland plc 192 King Street Castle Douglas DG7 10B Solicitors Williamson & Henry LLP 3 St Cuthbert Street Kirkcudbright DG6 4DJ Page 1 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guaranteel I RUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees presenl their annual feporl logelhei wilh the audited financial statements ol the company lor the year I SeptembèT 2024 to 31 August 2025 The Annual Report serves the purposes of both a Trustees. report and a directors. reoort Linrjer company law The Trustetss confirm th.at thè Arynijxl Report and finanrial 513tenienls Oi the cnai"iÈaDle company comply wilb. Ine Cufreni siatuiory requiremenis. IP)e requirements Or the charitat)le company's governing aocumeni ano the provisions of the Statpmpnt r>f Rpr.nmmp.ndpfl Prar.Iirp. ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republ￿ of Ireland IFRS102) {effective 1 January 20191. Since the group and the company qualfy as small under section 383 of the Companies Act 2006. the Group Strategic Report required of medium and18rge companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities Policies and objectives The objects of the Company are embodi&Y in paragraph 3.1 ofthe Memorandum: 3.1.1 To advance the education of the public by the provision of premises and facilib.es wherein there can be collected, preserved. exhibited ar)d interpreted historic and artistic materials and associated information about the same and in parb'cular m*erial that relates to the general area of the Glenkens or its inhabitants or is connected therewith. 3.1.2 To promote, maintain, improve and advance educatioll particularly by promoting and encouraging the study. practi￿. kn￿edge and appreciation of the arts and for these purposes to organise, promote. manage and conduct exhibition, concerts, conferences, dramas, lectures and workshops in the Glenkens or elsewhere. 3.1.3 To promote the benefit of the inhabitsnts and in pa￿C￿lar the young. elderly and disabled of the Glenkens and its environs without distinction of sex. sexualtty, tM)Ittical. religious or other opinions by associating the Ioc21 statutory authorities, volur¢lary organisations and inhabitants in a common effort to advan￿ education and to provide facilities, or assist in the provision of facilities, in the interest of social weware for recreation and other leisLsre tsme occupat10115 50 that their cOndit￿n of lrfe may be improved. 3.1.4 To advance the education of those who a￿ rural￿ isolated by ulilising Infomiation TechnolLxJy to provide distance leaming and also to facilttate visiting lectures. Significant powers are given lo the Company in furtherance of the stated objects. Achlevements and perfornian¢e a. Introdurtion from our Chalr This ha5 been another excellent year for delivery by GCAT. ￿th some grant allocations that have made a huge difference to our sustainability and therefore ability tr> deliver for our communities. We a￿ cemented as a key anchor organisation for the area, a vtsion of making the Glenkens an excEllent Pla￿ lo live for people of all ages. We do this by: Interweaving Arts, Community and Heritage to enrich the lrfe of the area. Delivering our Artistic Vision vmth passion and creativity. Supporting many activities core to the quality of life of people and environment of the Glenkens. Driving economic and s(Kial regenerdtion of the area through championing the delivery of the Glenkens & District Community Action Plan. Looking back over our achievements and challenges this year as we work towards this vision, there are a number of highlights.. Page 2 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED {A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Achievemenls and pgrfom)ance (continued} We were delighted to be awarded 100% of our granl application lo the Creative Scouand Multi-year Fund, in January 2025. This has secured both the delNery of our Touring Arts programme and Catslrand as an Arts VerTrue of the highest quality, from April 2025 to March 2028 - an Unpre￿denled level of slabilty for us. Huge thanks are due to Peter Renwrck, Calslrand Creative Director. fv his work on the application and lo the whole Arts and Venue team for the track record of delivery that led to such a great outcome. Our repLrtalion as a uniquely welcoming venue stsnds as over the last 18 years. and Ihls is reflected in the quality of the acts that want to come to us. We sold 4.017 ticke15 Wtth a value of more than £42,000 10 132 events this year. We welcomed the Bird Theatre from Japan for the results of 3 2-year collaboration in August 2025. which was a real highlight of the year and has resulted in an agreement lo tw"n wth them. Another highlight was the new Land Notes Fesbval that we created this year in partnership with Dalry Community Council. Funded by Naturescot, the N8tional Lottery Heritsge Fund and Inspiring Scotland, it allowed us to weave together our creativity with our deep understsndiThJ of place lo ewore and amplify our communities, feelings about changing land use. Cultural Glenkens In February 2025, we were awarded 3 years of fvnding from the National Lottery Heritage Fund for an application and extension of this important strand of our Artistic Vision. Jo Jackson started in post as Project Lead in June 2025 and is supporting the amazing volunteers of the existing projects, as well as creating Inlemship opportL¢nilies. a programrne of Heritage tslks and an Oral History l archiving proJ"ecl. Catstrand Young Creatives Catstrand Young Creatives has also had another excellent year. with The Holywood Trust committing to a further two years of support from April 2025 to Marth 2027 and additional funding from Youth Music Initiative and YoulhLink Scotland. This has allowed the CYC project lead, Catherine Campbell, to offer music lessons and the Arts Award in schcK)Is, as well as a diverse progfamme of activities designed lo spark. nurture and develop creative work in our young people aged from 4 10 25. Catslrand Young Creatives was shorttisled ft)r the Se¢￿d time in the 'Cullure' category of the DG Life awards in November 2024 which was very heartening. Many thanks are due to the Catstrand Arts Steering Group. who provide operational and strategic support lo the Arts team staff in support of these outcomes. Galloway Communty Transport (GCT) Jon Betts IGCT Manager) and Jason Wilding {GCT CLK)rdinator} have had another excellent year. They ran four school services as well as offering membership hires of five minibuses. Patient Transport remains a much- valued part of their work. and many thanks are due to all the Patient Trdnsport servi￿ voFunteer drivers. They received core support from the Region Wmje cc￿munitieS Fund in recognition of this work. GCT ￿ntInueS lo work closely with the DG Ccrtjncil Transport department, SWSTr8ns and the regional Community TranskK)rt group hosted by TSDG to ensure that we are meeting the needs of the region in efficient and creative ways. Many thanks are again due to the GCT sub-commtitee, who provide operational and strategic support to the GCT staff in support of these outcomes. Page 3 THE GLENKENS COMMLINITY AND ARTS TRUST LIMITED IA Cornpany Limtted by Guarantaèl TP.LICTEES' REPOR, FOR THE YEAR ENDED 31 AUGUST 2025 Achi8v8ments and performance IcontTrnued} Catstiand Café, bar and shop The café and shop have been open six days a week all summer. delivering consistently high-quality food in a welcoming environment. Many thanks are dve lo Helen Kitkpalrick. Elma Shaw and Eileen Edgar for their hard work this year, as well as all our Waiting and Front of House staff and in particular our regular volunteers who support us so well at reception. on bar duty and stewarding our events. We used DG Council 'Tackling Povety and Inequalities, ftjnding lo provitje free wami meals at the CalSlr8nd café in a stigma-free environment over the winter. which was much appreciated by many. Eileen will be retiring in NOVem￿r 2025 after many years of support for Calslrand, and we wsh her the very best for an enjoyable retirement! Glenkens Men's Shed The Men's Shed {open to all. of course!) has had another g￿d year, wilh its members embarking on some ambitious solo and joint projects. They also have s(￿￿81 mernbers, so whether you're a handy person looking forward lo getting your hands on their extensive machinery collection. or just enjoy a chat in the tea-shack, there's something foi everyone there. Glenkens Gazette l Glenkens Hub This year ended with preparations for the 25th anniversary of the Glenkens Gazette in November 2025, which is a huge achievement. It has grown Irom a black and white photocopied newsletter to 36 full-colour pages. thanks largely to the dedication of the Editor Sarah Ade and of course the contribution of all the readers and writers. The Glenkens Hub has continued as an invaluable online resource for the communities of the Glenkens. and Gail Challis. the Digital Editor. continues to evolve it to meet their nwls. It now also hosts a fully searchable ArchNe. LK)th of Glenkens Gazette back issues but also of other key cornmunty research and heritsge. We launched Our Glenkens on the Glenkens Hub in March 2025. as a response to the narrative of rural places in inevitable decline. It spotlights some of the amazing young wple living and working in the Glenkens, and used Facebook, Inslagram and TikTok to try and reach a w￿e extemal audience. That exciting project was ftjnded by SOSE. Many thanks are due to the Gazette S￿￿CoMMIttee, who provide operational and strategic support lo Sarah and Gail in support of these outcomes. ￿s0 to the Glenkens and District Community Fund who support the work of the Hub, and all the Gazette advertisers and sponsors. especially Drax. Fred Olsen Renewables and Natural Power Consuttants. Glenkens Community Spaces Network The Netwoth conts.nues to provide excellent support for the Ifillage and Town Hall commitiees of the Glenkens, amplifying and supporting the huge efforts of the volunteers involved. Becca Nelson, its Facilitator, has also continued lo support Local Place Planning across the Glènkens. supporting the Dalry, Carsphaim, Crossmichael, New Galloway & Kells and Balmaclellan CC in creating theirs. This has been hard bul important work Tnany thanks to all who took part. The CAP Steering GroLfP has committed to using the Local Place Plans as a key input into the 2026 refresh of Ihe Glenkens and DistrKt Community Action Plan. Becca has also been funded by the National Lottery 'Aw8rds for All. for an additional day a week to fijrther support the Halls in putting on new and different activity programmes. Many thanks to the Glenkens and District Community Fund who core-fund the Communtty Spaces Ne￿0￿. Page 4 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED (A Company Llmited by Guarantsal TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and perforn)ance {contlnued> Another cross-Glenkens project was the Glenkens Food Month in Seplember 2024. Coordinated for the area by Jo Jackson. and funded by the Region Wide Communities Fund. il was another great celebration of our local food and drink producers. Glenkens Youth Group Sue Curtis and Izak Entwhisue ran this undirected space for P7-S3s to relax and meet friends with great success this year. It runs weekly in temi-limes and put on an excellent 2025 holiday programme that included a trip lo the Titanic in Beifast, a Galloway Activity Centre day and a trip to the Edinburgh Fringe ￿rith Catstrand Young Creatives. Many thanks to the Glenkens and Oislrict Community Fund who fund the Youth Group, as well as D&G Council 'Summer of Fun, for their supwrt of the summer prL¥Jfdmme. Venues Brian Edgar, Facilities and Enlerprise Manager, ￿ntinUeS to do a great job of maintaining and operating the Calslrand and Smiddy buildings. Everyone who comes to visil is always impressed by them and the welcome they get. Particular mention and thanks here to Martin Wamock, who volunteers a lot of his lime in this service, as well as his work as Duty Manager. The Smiddy has full IT capacity for hybrid meeliNJs and is a great place lo hold a region-wide event. DG W¢)odlands remain as 8 welcome tenant in the Smiddy back-r￿rn. Flooding remains a major risk for the Catstrand and we are working very positively with D&G Council to minimise the risk of the Catstrand bum overfiowThJ. since access to the culvert giill is still restricted to us. In line wtth our ongoing commitment lo Net Zero. in January 2025 we installed solar panels, batteries and air source heat pumps at the Catstrand in order to completely decartK>nise our healing system. Thanks lo CARES and CLLD funding, we were able lo couple this wth a replacement of our legacy energy-hungry auditorium lighting, which has reduced our overall energy consumption as well as the cartM)n emissions. Huge thanks are due to John Crallan, who volunteered his lime lo plan and oversee this project, as well as Dave Stewart who remains a very valued supporter of our work. Communlty Actlon Plan Delivery As well as delivering aspects of the Glenkens Communtty Action Pian ICAPI directly ourselves. we support the other Community groups working on CAP projects through the CAP Sleering Group. This year, we have worked with or supported the Loch Ken Trust. Dalry Parent Council, Dalry Community Counul, Local Inilialives in New Galloway, New Galloway Community Enterprises. the Dalry Community Properties Trust, Knockengorroch and the Pamela Young Trust on their exciting projects. In addition. the work of the CAP Steering Group has focussed heavily this year on Education and Leaming and Larkd Use. We have hosted wmmunity events on lJ)th subjects and published our research and positions. We work regionaliy and nationally on these topics. alway3 advocating for the Vol￿ of rural communities to be inclLJde in any decisions about them. Our work has been extremely well recognised regionally and nationally, and we will ontinue to work towards mttigating the upstream pressures on rural living like housing. transport. childcare, education and a Just Transition to nel zero. Our Chief Executive. Helen Keron. is well supported in all her work on the CAP by the voluntary Community Action Plan Steering Group. My thanks go to all members of the Steering Group aThJ their sub-committees for their time and advi￿ on this important aspect of our work. Page 5 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantèè) TP.LICTECC' REPOR ONTINL4EDj FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and ￿rforMance l¢ontbnued} Foundations Gill Warnock and A￿drea Smith in the Business Supwrt team have had a busy but extremely productive year, continuing to refine as many of our processes lo make them more resilient and efficient. Underpinning our work is core funding. We need a robust and long-term core funding model rf we are to thrive. Therefore we can onty take on projects which can contribLrte proportionately to the core costs of running functional organisalion such as energy bills. insurance. financial processing and management. Many thanks are due to the GCAT Audit and Finance Committee, who give up their lime lo provide the Board with much valued assurance and improvements suggestions around our finali￿s. Our sust8in8bilty has been hugely boosted this year by our designètion in November 2024 as a Key Anchor Organisation by the Glenkens and District Tnjsl. This followed a Tobust process tr) assess our contribution lo the wider Glenkens communitie5 our governan￿ and stsbility- As a result of thi5, the Glenkens and District Community Fund has now committed £50k of core support lo GCAT on a rolling basis, subject to annual review of satisfactory performance. This has been transfoffllative for our ability to support our communities and very much appreciated. The GCAT 808rd carried out a Strategy Refresh Day in June 2025. in which they re-affimied their ￿MmItMent to the GCAT Vision as a￿)Ve. and to our role in leading on delivery of the Community Action Plan. The refreshed Strategy is available on our websrte in full arKI summary fomi. Gill will be leaving us in September to tske up a new p0S￿On at Natural Power- many thanks are due to Gill for her commitsnent lo GCAT over some 7 years now and her work in transforming our financial processes. Thank you I would like to thank all the many people who make GCAT the success it is tCKlay. The stsff. who all give much than they need to. the deliveTers and arbsts who work with such high quality. thè community who are so appreciats've of our events and a¢livities, and in parb"uJl8r. our volunteers. Whether you steward for us, work on the front desk, sort out our garden. drive for us. give your time on one of our sub-committees, fundraise for us or support us in any other way. it is all very much appwiated and we couldrb'l do it wilhoth you. We have had Much-apprec￿ted core support this year from D&G Council, the Callendar Trust and of course all our Friends. The significant core cost contribulion from the Glenkens and District Community Fund associated with their designation of GCAT as a key anchor organisalion is also critical to our ongoing delivery of the Glenkens Community Action Plan. Without their supporL Thjne of this would be possible. Our many project funders, commitment. parbcularfy the multi-year settlements from Creative Scotland, the National Lottery Heritage Fund and The Holywood Trust. is also very much appreciated as it leads directly to many excellent and varied outcomes for the people of Ihe Glenkens and beyond. As ever, I wish to pay tribute lo the GCAT Board who continue to provide their invaluable time and experience in support of GCAT. It's been ex￿lIent getting to know our new Trustees in particular, and I thank them for their lime and enthusiasm. Also to the volunteer members of the CAP Steering Group and all of our sub-commsttees. Lastly, Helen Keron. our Chief Executive, will be ieaving her role in December 2025. Helen has transformed GCAT over the last 4 years. providing a professional approach to all aspects of our charity and working closely with our staff, funders, communities and partners. She leaves GCAT with robust and sustainable finances as well as excellent operational processes and a clear strategic vision. We cannot have wished for a more dedicated person to lea¢J GCAT and we wish her well in her future career. Helen will be replaced by Andrew Mcconnell. joining us in November 2025- our welcome lo Andrew. Page 6 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED {A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 Achievernents and perfornian¢e l¢ontinuedl b. Projects - Financial Review Overview The recent mulli-year grant awards by the Glenkens and District Community Fund, Creative Scotland, the National Lottery Heritage Fund and the Hc4wcd TrusL plus project awards by funders who understsnd the importance of contributing towards organisalional overheads through Ful Cost Recovery. has Iransfomed our position from last year. While we take nothing for granted, and remain as economical and efficient with our spending as ever, this financial stability has allowed the whole team to get back to delivering for our communities. which is pawng off hugety- This is coupled with signtficant action that we took in September 2024 to take 20% out of our core costs in order to allow us to survive as a going concem while we waited on grant announcements. While we have been able to relax some of these constraints since, due to the grant setdements, my thanks are due lo all of the staff who accepted reduced hours, including the Chief Executive. Business sUp￿rt team. Enterprise and Facilities Manager and Retsil Supervisor. This year, our GCAT tumover (excluding GCTI was up markedly al £857k. reflecting the beginning of our mulli- year settlements. the core cost contribution from the Glenkens and District Community Benefit Fund and the capital funding foT the Catstrand decarbonisalion project. We secured £602k of grants and donations, of which the majority was leveraged in from outwtth the region. making GCAT a significant nel conlribulor to the local economy of the Glenkens and district. GCAT made a Profil and Loss surplus of £162k this year. compared to an equivalent loss of £33k last year, but It musl be noted that this includes nearly £100k of Capital funding which does not have an associated expenditure on the P&L. However. il does include more than £100k of depreciation. Therefore we have made a healthy cash surplus this year, largely due to major funders pay7ng for the Arts programme in advance. The consolidaled group's nel funds have achieved a surplus for the year of 120k - reduced by the accounting loss of GCT this year. See the separate GCT Accounts for detsils of this Posttion. Arts Events and Programming The year's activiknes generated nearly £46.000 income from ticket sales. We received grants of around £92,000 comprising mainly Creative Scouand funding wth contributions also from Dumfries & Galloway Council via the Regional Arts Fund and the Regionwide Community Fund. Watson Birds was generously supported by the Scottish Omilhologists, Club and the Glenkens Community s￿p. Youth Arts The Youth Arts project continues to be ma1￿Y funded by the Holwod Twst. We also received additional funding this year from Creative Scottand (Youth Music Initiative), Dumfries & Galloway Council (via the Arts Festival, Discret'onary Budget and Step Into the Arts). New Galk)way & Kells Community Council and Tesco. The funding model does not rely on eamed income. Venue Hire There were 43 On￿ff venue hires by more than 20 dienls in the year (30 venue hires in 23-241. as well as regular and long-lemi bookings. Catering & Bar In the year, the café and bar generaled arcAJnd £129.074 includiThJ venue hire catering 1£118.000 in 23-241 reflecting another extremely busy year. Page 7 THE GLENKENS COMMUNITY AND ARTS TRLIST LIMITED IA Company Limited by Guarantee) TDI SeTc￿e. DtOX)DT InQAITI&II Ifnl FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and performance {continuedl Retail Shop revenues this year were £21.024 (£24.381 for 23-241. Core Costs Many costs incurred running our buildings and organisation SLrffered from ￿rge increases again during the year. We are most grateful as ever lo the private afK)nyTrous donors who support these costs that are often difficult to cover from external funding. Capital Expenditure GCAT completed a rnajor capital upgrade of Catstrand this yeaf, including the installation of air source heal pumps, solar panels and batteries to decarbonise the building. plus energyoffiaenl upgrades to the lighting throughout and upgrades to the auditorium theatre lighting and sound desk. Many thanks lo CARES, CLLD and the private trusts and donors who allowed us to make these18rge steps ti)wards net zero operations. Fri8nds The Friends scheme generated income of £7,681 excluding GrfIAd. (£16.145 in 23-24}. General Donations We raised £44.541 in general donations1£47.864 in 23-241. This induded £5.000 from the Binks Trust and £10,000 anonymous donations which were very much appreciated. Glenkens Gazette Advertising income and sponsorship totalled £15.6351£17.601 in 2&24) including support from Fred Olsen for winter distribution costs lo allow for household delNery to oulying areas in the community. Galloway Community Transport (SCIOI GCT has separate accounts which are coTrsdklated intrj these group accounts due lo the strong operational links belween the ￿ entities and Ihe inffluence of common control due to the same Trustees on both Boards. Page 8 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Financial revlew a. Going concem After making appropriate enquirses. the Trustees have a reasonable expectation that the company has adequate reSoUr￿S lo continue in oper81ional existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial stalemenls. Further details regarding the adoption of the going concem basis can be found in the accounting polKies. b. Reserves policy The Trustees maintain the chariws reserves at a level which is al lea51 equivalent lo three months operalional expenditure, plus any longer-tem contractual obligations. The amount of resetves reqUI￿d to fulfil this policy is reviewed on a 6-monthly basi5 at the Audit & Finance meetings. It is currenuy Set al £150k, based on just under 114 of the operational eynditure in the 2023-24 financrdl year. We have no material longer-lerm conlraclual obligations. The Trustees have deemed this to be a pnjdent amount that can be spent either to cover a finite and short-term drop in income, to cover agreed budget shortfalls or lo cover redundancies if the orgnaisalion requires to be wound up. The redundancy liability at 31 August 2024 was ar(MJrK5 £15k. If the cash reserves in the bank fall below the Resetves level at any pY)int. the A&F Committee will be notified in a timely manner to make recommendations to address the issue. Structure, governance and management a. Constitutlon The Glenkens Community and Arts Trust Limited is registered as a charitable cc4npany limited by guarantee and was set up by a Trust deed. b. Methods of appointment or election of Trustees The management of the Group and the company is the respx)nsibility of the Trustees who are elected and coopted under the lems of the Memorandum of Association. Under those Arbcles. the Trustees are appointed by the Members at the AGM or by the Trustees at any other time lo serve a period of 3 years. The existing Trustees retire by rotation. This year ￿ retirements are required but Carmina Bernhardt has indicated she will be stepping (Jovm in November 2025. The membership of the organisatson is open lo all. Page 9 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarante81 FOR THE YEAR ENDED 31 AUGUST 2025 Structure, governance and management {continuedl ¢. Organisational structure and decision-making policies GCAT staff are organised by project under the Chief Executs"ve. Each pr￿ect has a Team leader, who reports lo the Chief Executive. and associated team members who may be GCAT stsff. freelancers or volunteers. We are moving to a model where each project also has a sub-committee for SUPPDrL The sub-committees have written terms of reference and all have al least one Board member on them, as well as interested mernbers of the Glenkens ¢ommunities. They provide 51rategic and operational support lo the Team Leader, as well as line of sight from the Board direclly into projects. Operational decisions are taken by the project teams, with recourse lo the Chief Executive where appropriate. The Chief Executive reports to the Chair of the Board, and refefs all strategic decisions lo the Board through them al the Board meetings. The Chief Executive also takes advice frcrfm the Community Action Plan Steering Group. which meets quarterfy. They provKJe direction and assurance on delivery of the Communty Action Plan priorities Ihrough GCAT. d. Pay pollcy for senlor staff The pay of the Chief Executive and the Team Leaders is rewewed annually along wth all stsff and normalty increased in accord8nce wth average eamings. Al salaries are benchmaJl(ed by Trustees against pay levels in similar organisations operating in similar contexts. e. Financial risk management The Trustees have assessed the major risks to which the Group and the company are exposecs, in particular those related to the operations alld finances of the Group and the company, and are satisfied that systems and procedures are in place to mitigate exFX)sure to the major risks. Page 10 THE GLENKENS COMMUNiff AND ARTS TRUST LIMITED (A Cornpany Limited by Guarante•) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Plans for future periods With the Catslrand Artistic Vision in an unprecedented era of stability now, we are very much looking forward to continuing to refine and expand our delivery of high-quality Arts lo the people of the Glenkens and beyond. Particular highlights wll include ongoing collaLNJralion wilh the Bird Theatre in Japan and more partnership working that weaves together our creative credentiaLs wth community issues and concems. We coordinated the Glenkens Foc*J Month again in September 2025, this time wth funding from the Glenkens and District Community Fund. We hosted a Skills and Jobs Fair in Seplember 2025, thanks lo funding from DG Works, the Local Employability Partnership, and in partnership wlh Dalry Parent Council and Dalry Secondary School. 19 employers and 57 attendees came along. spoUvJhting the diversty and quality ofjobs available here in the Glenkens. We are being funded by the Scottish Govemment Climate Emergency fund to create more content for Our Glenkens over Winter 2025, this time fc¢ussing on y)ung people living sustainably in the Glenkens. We are working in parthership wth Dalry Community Council on an exating Natu￿ Networks programme in Autumn 2025, and have hopes for frjrther funded suppLYt of our important work on this topic. GCT expects to be making signrficant upgrades to tis lleet in Autumn 2025 thariks to suppK)rt from Plugged In Communities. We wll be supporting the CAP Steering Group in the 2026 refresh of the Glenkens Communty Action Plan. Lasdy, Andrew Mcconnell ￿11 be tsking over from Helen Keron as GCAT Chief ExecLrtive on the 1 December 2025 after a month-long handover in November. Stat8m8nt of Trustees. responsibllities The Trustees {who are also the directors of Ihe company lor the purwses of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Tru51ees must not approve the financk?I statements unless they are satisfied that they give a true and fair view of the stale of affairs of the Group and the cO￿PaI)Y and of their incoming resources and application of resources, including their incorFbe and expendilure. for that peric*J. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then applythem ujnsistenuy. obsetve the methods and principle5 of the ChaTtties SORP IFRS 102)- make judgments and accounting estimates that are reasonable and prudent.. state svhether applicable UK Accounling Stsndards {FRS 102} have been followed, subject lo any material departures disclosed and explaFned in the financial sl8lemenl5'. prepare the financial ststements on Ihe going concern basis unless it is inappropriate lo presume that the Group will continue in tyjsiness. The Trustees are ￿spOnsible for keeping adequate accounting records that are sufficient to show and explain the Group and the companys transactions and disdose wth ￿asonable acctjracy at any time the financial position of the Group and the ¢ompany and enable them lo ensure th81 Ihe financial statements comply with the Companies Act 2006, the Charitie5 and Trustee Investrnent Iscouandl Act 2005 and the Charities Accounts IS¢ollandl Regulations 2006 las amended). They are also responsible for safeguarding the assets of the Group and the company and hen￿ for taking reasonable steps fcw the preventson and delecb'on of fraud and other irregularities. Page 11 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantee) Tr FOR THE YEAR ENDED 31 ALIGUST 2025 Dis¢losure of information to auditors Earh of the persons who are Trustees èi the tlfne when Ihis Trustees. Fieporl fs appioved haF confirmed Ihal.. so far as that Trustee is aware. there is no relevant audit infomiation of which the charitable group's auditors are unaware, and that Trustee has taken all the steps that ougm to have been taken as a Trustee in order lo be aware of any relevant audit infomation and to establish thal Ihe charitable group's auditors are aware of that information. Auditors The auditors. Amslrong Watson Audit Limited. have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of TTUStees and signed on their behalf by: PNFryar Trustee Date.. 12 2rob Page 12 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED (A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED Opinion We have audited the financial ststements of The Glenkens Community and Arts Trust Limited (the 'parenl charitsble Companll and ils subsidiaries (the 'group'} for the year ended 31 AugLssI 2025 which comprise th& Consolidated Statement of Financial Activities, the Consolbjaled Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows. the Company Statement of Cash Flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparatson is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, {Uniled Kingdom Generally Accepted Accounting Practi￿}. In our opinion the financial statements- give a truo and fair view of the stale of the Group's and of the parent Gharitable companys affairs as al 31 August 2025 and of the Group'5 iru)ming resources and application of resources, including its income and expendtture for the year then ended- have been propedy prepared in accordance with Untted Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordan￿ the requirements of the Charities and Trustee Investment Iscotlandl Act 2005 and regulations 6 and 8 of Ihe Charities Accounts {S¢ollandl Regulations 2006. Basis for oplnlon We conducted our audit in accordance wtth Inlemalional Stsndards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial slalements section of our rep)rt. We are inde￿ndent of the Group in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe Ihat the audtt eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinic￿. Conclusions rnlating to going ¢on¢em In auditing the financial ststements. we have conduded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not wjentified any material uncertainties relating to events or conditions that, individually or collects"vely, may cast significant doubt on the Group's or the pa￿nt charitsble companls ability lo continue as a going concem for a peri)d of at least twelve months from when the financial ststemenls are authorised for issue. Our responsibilities and the ￿spOnsIbl11ties of the Trustees Y￿th respect to going concem are described in the relevant sections of this report. Page 13 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantee) T A INDEPEI%'DEt4, -dulTORS' REr￿￿ i * v I ric i¥ici¥iDct%> i ME GLLNKENS COMMtsNITY ANL) AK I TRUST LIMITED ICONTINUEDI Other infomiation Tne other inromalion comprises ihe Intorfftation Included in thp. Anniial Rp.pnrt other than the financial slalemenls and our Auditors. Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other infomialion and, except to the extent otherwise explicidy ststed in our report. we do not express any fomi of assurance conclusion thereon. Our ￿SponSibl11ty is lo read the other information and. in doing so, consider whether the other information is materially inconsistent wilh the financlal statements or our knowledge obtained in the course of the audit, or otherwise appears lo be fflaterially misstated. If we idenlify such material inconsistencies OT apparent material misstatements, we are required to delem)ine whether this gives rise to a material misstatement in the linancial statements themselves. If. based on the work we have performed, we conclude that there is a material misststemenl of this other information. we are required lo report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the fOlkn￿ng matters where the Charities A￿Unts (Scotland) Regulations 2006 {as amended) requires us to report to if, in our opinion: the information given in the Truslees. Report is inconsistenl in any material respect with the financial statements.. or the parent charitable company has not kept proper accounting records" or the parent charttable company financial statements are not in agreement with the accounting records and relums., or we have not received all the information and explanations require for our audit. Responsibilities of trustees As explained rnore fully in the Trustee5' Responsibilities Statemenl. the Trustees (who are also the directors of the charitable company for the purposes ol company lawl are responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is ￿e￿ssary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable companls abilily to continue as a going concern. disclosing. as applicable. matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Pagg 14 THE GLENKENS COMMUNifY AND ARTS TRUST LIMITED (A Company Limited by Guaranteè) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED (CONTINUED) Auditors. rosponsibilities for the audit of the financial sL*emgnts We have been appointed as auditor under section 4411}Icl of the Charities and Trustee Investment Iscouandl Act 2005 and report in accordance ￿th the Act and relevant regulations made or having effect Ihereunder. Our objeclNes are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guaiantee that an audit conducted in accordance wth ISAS (UK) will alwa￿3 delect a material misstatement when it exists. Misslalements can arise from fraud or error and are considered material if. indimdually or in the aggregate, they could reasonably be expected to inflU￿Ce the economic decisions of users tsken on Ihe basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstslemenls in respect of irregularities. including fraud. The extent to whith our pr￿edureS are c8pable of detecting irregularities. induding fraud is detailed below. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills lo identify or recognise non-compliance with appiicable law5 and regulations., we identified the laws and regulations applicable to the group through discussions with Iruslees and other management, and from our comfflercial knowledge and experience of the sector.. we focused on specific laws and regulations which we conswjered may have a direct material effect on the financial siatements or the operations of the group. such as the Companies Act 2006, tsxalion legislation, data protection. anli-bribery. employment, enwronmentsl, health and safety legislation, as well as compliance with govemmenl bodies for the provisiorl of apprenticeships. we assessed the extent of compliance with the laws artrd regulations identified above through making enquiries of rnanagemenl and inspecttng legal correswndence: and identified laws and regulations were C￿mmunicate{s within the audit team regularty and the le8m remained alert lo instances of nonthcompliance throughout the audit. We assessed the susceplibi5ity of the group's financial statements to material misstatement. including obtaining an understsnding of how fraud might occur. by.. making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud" onsidering the inlemal controls in place to mitigate risks of fraud and non-compliance with laws and regulations., and reviewing the key areas of the firkgncial statements most sus￿p11b1e to fraud whilst tsiloring our audit plans. To address the risk of fraud through management bias and overr¥Je of controls. we: perfomied analytical procedure5 to identify any unusual or unexpected relationships., lesled joumal entries to identify unusual transactions- assessed whether judgements and assumptions made in determining the accounting eslimales, 5ueh as depreciab'on and funLf allocations were indirative of potential bias.. investigated the rationale behind signfficant CK unusu81 trdnsaclions., and In response to the risk of irregularitses and nOn-¢￿p11an¢e *ith18ws and regulations. we desyned procedures which included, bul were not limtied to." a9reeing financial stslemenl disclosures to underlwng supporting documenlalion.. ading the minutes of meetings of those charged wth govemance.. enquiring of management as lo actual and kwjlential Ittigation and daims- Page15 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guaranteel 'vEIx i MiiLJi J VRS. ALFON I i v i iii IviEiYioÉrto ur I tsitit4iKtjx¥ knlJi¥&jVlUNi I V ANU TRUST LIMITED ICONTINUEDI Tkne[￿ 3., e .,￿he.. c￿t Iirnitatpop.s ',p, OL,,. ad. a.o"e. T*e rcry.Gicd 'k4al la'vVJ arid rEguiatluLiS a", sa￿1￿017$, ii*e less likely IL Is 'triai Woljid become aware ol noil-¢05))iiliaiTrue. Auditing stsndards also limit the audit procedures required lo identify non-compliance with laws and regulations lo enquiry of the trustees and other management and the inspection of ￿gUlatOry and legal correspondence, if any. Material misstatements thal arise due to fraud can be harder to detect than those that arise from effor as they may involve deliberate corbcealment or collusion. A furthe¥ description of our responsibilities for the audit of Ihe financial statements is located ori the Financial Reporting Council's website at: w•M.frc.o -uklauditorsre5 nsibilities. This description forms part of our Auditors. Report. Use of our report This report is made solely to the charitsble companls trustees. as a bL¥Jy. in accordance wth regulation 10 of the Charities AccoL¢nls IS¢ollandl Regulations 2006. Our audit Work has been undertaken so that we might stste lo the charitable companls trustees those matters we are required lo stsle to them in an Auditors. Report and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility lo anyone other than the charitable company. its memt*rs. as a toly, and its trustees, as a bc*Jy. for our audit work. for this report, or for the opinions we have fomied. a￿￿tr kn-rtel Arnistrong Watson Audit Limited Chartered Accounlanls & Stalulory Audttors Dumfries Dale: Ilo 2£L Armstrong Watson Audit Limited are el*3ible to act as auditors in tems of section 1212 of the Companies Act 2006. Page 16 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED (A Company Limited by Guarantsel CONSOLIDATED STATEMENT OF FINANCIAL ACTivmES (INCORPORATING INCOME AND EXPENDITURE ACCOUND FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Charitable activities Other trading activities Investments Other income 187.340 315.652 21,024 4,296 13.392 420,363 68,876 607,703 384,52B 21,024 4,296 13.392 444,846 375,578 24,381 2.132 20,687 Total income 541,704 489.239 1,030.943 867.624 Expenditure on: Raising funds Charitable activities 11.gn 593,972 11,973 899,302 10.765 823,810 305.330 Total expenditure 605.945 305.330 911,275 834,575 Net movement in funds {64.2411 183.909 119,668 33,049 Reconcillatlon of funds: Total funds brought forward Net movement in funds 569.865 (64.241) 1,271.947 183.909 1.841.812 119.668 1,808,763 33,049 Total funds carried forward 505.624 1.455,856 1,961.480 1.841,812 The Consolidated Statement of Financial Activities indudes all gains and losses recognised in the year. The notes on pages 25 to 42 form part of these financial statements. Page17 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guaranteel COMPANY STATEMENT OF ". INANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITIIRE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted funds Restrieted funds Total funds Total funus 2024 2025 2025 2025 Income from: Donations and legacies Charitable activities Other trading aclivrties Investments 181.889 171.111 21.024 3.582 8,592 420,363 602.252 221,654 21,024 3,582 8,592 341,456 190,711 24,381 1,967 20,687 Cxher income Total Income 386.198 470.906 857.104 579.202 Expenditure on: Raising funds Charitable activitres 11.973 361,849 373.822 11,973 683,300 695,273 10.765 601.584 612,349 321.451 321.451 Total expenditure Net movèment in funds 12,376 149,455 161,831 133,1471 Re¢on¢iliation of funds: Total funds brought forward 184.245 12.376 1.297,707 149,455 1,481,952 161.831 1,515,099 {33,1471 Net movement in funds Totsl funds Carried forward 196.621 1.447,162 1,643.783 1,481,952 Page 18 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED {A Company Limited by Guarantee) REGISTERED NUMBER: SC222083 CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Flxed assets Tangible assets 12 1.577.514 1.580,026 1.577.514 1.580,026 Current assets Stocks 13 14 8.718 52.873 414.009 12,609 19,806 323,801 Debtors Cash al bank and in hand 475.600 356.216 Creditors: amounts falling due wthin one year 15 191.634) {94,4301 Net current assets 383.966 261,786 Total assets less current liabilities 1.961,480 1,841,812 Net assets excludlng pension asset 1,961,480 1,841,812 Totsl net assets 1.961,480 1,841,812 Page 19 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED IA Company Limited by Guarantee) REGISTERFO N"UM8ER." SC222083 CONSOLIDATED BALANCE SHEET {CONTINUEDI AS AT 31 ALIGUST 2025 2025 Note Charity funds Restricted funds Unrestricted funds 16 16 1,455.856 505.624 1.271,947 S69.865 Total funds 1.961.480 1.841.812 The company was ent￿￿ed to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain 8n audit for the year in question in accordance swth section 476 of the Companses Act 2006. However. an audit is required in acc¥)rdance with section 44111{c)of the Charities and Trustee Investment (Scotlandl Act 2005. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial ststefflents. The financial statements have been prepared in aC￿rdance the provisions applicable to enlities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. PNFryer ITrustee} Date.. l 2-EbEXJ>y 20 The notes on pages 25 to 42 ft)mi part of these financial statements. Page 20 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED IA Company Limited by Guarantèe) REGISTERED NUMBER.. SC222083 COMPANY BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Fixed assets Tangible assets 12 1.349.529 1,294,832 1.349.529 1,294,832 urrenl assets Stocks Debtors Cash al bank and in hand 13 14 8.718 43.615 334.725 12,609 15,522 251,569 387.058 279,700 Creditors.. amounts falling due wlhin one year 15 {92,804) 192,580} Net ¢urrent assets 294,254 187.120 Total a$set$ less current liabilities 1.643,783 1,481,952 Net assets excluding penslon asset 1.643.783 1.481,952 Total net assets 1,643.783 1,481,952 Page 21 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guaranteel REGISTERED NUMBLR. SC222083 COMPANY BALANCE SHEET ICONTINUED AS AT 3fj AbGbSI 2025 2025 Note Charty funds Reslricled funds Llnreslrithd funds 16 1.447.162 196.621 1,297,707 184.245 16 Totsl funds 1.643.783 1.481,952 The company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtsin an audit for the year in question in accordance section 476 of the Companies Act 2006. However, an audit is rwuired in accordan￿ with section 44111{c)of the Charities and Trustee Investment (Scotlandl Act 2005. The Trustees acknowledge their responsibilitbes for com￿y)ng wth the requirements of the Act wth respect to accounting records and preparation of financial ststements. The financial statements have been prepared in accordance with the provisMJns applicable to ent￿e5 SL¢bjecl to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. PNFryer (Trusleel Dale.. I 2oztrJ The notes on pages 25 10 42 form part of these financial ststements. Page 22 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED (A Company Limited by Guarantee} CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Cash flows from operating activities Net cash used in operating aclivitses 186,499 409,917 Cash flows from Investlng actlvitles Purchase of tangible fixed assets Bank interesl received (100,5871 4,296 1331.5081 2,132 Net cash used In Investlng a￿l¥ltieS (96.291) 1329.3761 Ca$h flows from flnanclng activities Net cash provided by financlng acttvlties Change In cash and cash equlvalents in the year Cash and cash equivalents at the t￿InnIng of the 90.208 80,541 323.801 243.260 Cash and cash equivalents at the end of the year 414.009 323,801 The notes on pages 25 to 42 form part of these finanual stalements Page 23 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantèè) CO',:PMINY S- t M ¢ ci¢¢Eiy * vr r LOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Cash flows from operating activities Nel cash used in operatsng activities 179,447 58.634 Cash flows from Investtng a¢tivlties Purchase of tangible fixed assets Bank interest receNed (100,587) 4.296 1915} 2,132 Net cash {used inyprovided by inv&sting a¢tlvlties {96.291) 1,217 Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equlvalents in the year Cash and cash equivalents at the beginning of the year 83,156 59.851 251,569 191,718 Cash and Cash equivalents at the end of the year 334,725 251,569 The notes on pages 25 to 42 fomi part of these financial ststements Page 24 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED (A Company Limited by Guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies 1.1 Basls of preparation of financial statements The financial ststements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Ststemenl of Recommended Practice applicable lo charities preparing their a¢counts in accordance Trmth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Cornpanies Act 2006. The Glenkens Communty and Arts Trusl Limtted meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initialty recognised at hisiorical cost or Iransaclion value unless olhemse slated in the relevant accounting FX)Iry. The Consolidated Slalement of Financial Activibes {SOFAI and Consolidated Balance Sheet consolidate the financial statements of the company and ils subsidiary undertaking. The results of the subsidiary are con501idaled on a line by line basis. The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented tts own Statement of Financial Activities in these financial statements. 1.2 Going concern The Trustees have reviewed the 12 months from February 2026 to January 2027 in their annual Going Concern assessment. The ¢ost of INing crisis and the increasing fragility of the funding landscape are Cause for concern. but they are confidenl that through prudent planning, they have SLrfficient resources available to meet their needs for a period of al least 12 months from the point of signing. 1.3 Income Al income is recognised once the company has entiljement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are induded in the ConsolKlaled Ststemenl of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheel. Where income is re￿iVed in advance of entitlernenl of receipt. its recognition is deferreil and included in creditors as deferred income. Where enliuemenl occurs before income is re￿ived. the income is ac(¥ued. Income tax recoverdble in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the ￿n(￿l in Wh￿ r( is receÉvable and to the extent the goods have been provided or on completlon of the service. Page 25 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantoel iyv J ÉS i v TliE FifxAliCiAL S i Ai Èiviti4 1 i FOR THE YEAR ENDED 31 AUGUST 2025 Accountin9 policiès (continued) 3.4 Expenditure Expenditure is recognised once there is a legal or construcbve obligation lo transfer economic benefit lo a third p8rty, it is probable that a transfer of eo)nomic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendrture is classified by activity. The costs of each activity are made up of Ihe total of direct costs and shared costs, including support costs involved in undertaking each aGtivity. Direct costs attributable to a single activity are allocated directly lo that actimty. Shared costs which wntribule to more than one activity and support costs 4vhich are not attributable to a single actiwty are apportioned betsveen those actwilies on a basis consistent with the use of resources. Central stsff cosls are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group lo raise funds for its charitable purwses and includes costs of all fundraising activtbes events arHI non-charitable trading. Expenditu￿ on charitable actiwties is incurred on direcuy undertaking the activities which further the Group's objectives. as well as any associated support costs. Al expenditure is inclusive of irrecoverable VAT. 1.5 Company status The company is a C￿lp8nY limrted by guarantee. The members of the company are the Trustees named on p8ge 1. In the event of the company being wound up. the liability in respect of the guarantee is limited to E1 per member of the company. 1.6 Interest re¢eivab Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group,. this is normally uKN)n notification of the interest paid or payable by the institution th whom the funds are deposited. 1.7 Tangible fixed assel$ and depreciation Tangible rtxed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are inrknally re¢ognised at cost. After recognibon, under the cost model, tarigible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost Page 26 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED {A Company Limited by Guaranteal NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policies Icontlnued) 1.7 Tangible fixed assets and depreclatlon (conllnuedl DepTecialion is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated usefvl lives. using the straight-line and reducing balance methods.. Deprecialion is provide(l on the folh)wing basis: Freehold property Plant and machinery Motor vehides Fumiture, fittings and equipment- Off￿e equipment 2% Straight Ltne 25% Straight Line 20Vo Reducing Balance 250A Straight Line 25% Straight Li From 1 September 2022 depreciation is calculated and applied monthly from the date of purchase to the date of disposal. Prior to this a full year of dep￿cIatiOn would be applied in the year of purchase and no depreciats.on applied in the year of disposal. 1.8 Stocks Stocks are valued al the I0￿r of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs. 1.9 Debtors Trade and other debtors are recognised at the settlemenl amount after any trade dSs¢ount offered. Prepayments are valued at the amount prepaid net of any trdde discounts due. 1.10 Cash at bank and In hand Cash at bank and in hand indudes cash and short-temi highly liquid investments with a short maturity ol three months or less from the date of acquisition or opening of the deposit or similar account. 1.11 Llabllltles and pmvisions Liabilities are recognEsed when the￿ is an obligation at the Bal3n¢e Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilitses are recognised at the amount that the company anticipates it will pay lo settle the debt or the amount it has received as advanced payments for the goods or services il must provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax dis￿￿nI rate that reflects the risks specrfic to the liability. The unwinding of th8 discount is rec(KJnised in the Consolidated Statement of Financi81 Actimties as finance cost. 1.12 Flnanclal Instruments The Group only has financtal assets and financial liabiltiies of a kind that qualify as basic financial instruments. Basic financial instruments are inib.ally recognised al transaction value and subsequently measured al their settlement val¥Je wilh Ihe exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 27 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantèel i*vTcS J v i nr riiNAsybiAi S I I FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies Icontinuedl 1.13 Pensions The Group operates a defined contribution pension scheme and the pènsion charge represents the amounts payable by the Group to the fund in respect of the year. 1.14 Fund accountlng General funds are unrestricted funds %•knich are available for use at the ¢Jiscretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unrestrtcled fvnds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial statements. Restricted fvnds are funds which are lo be used in accordan￿ with specrfic reslricts'ons imposed by donors or which have been raised by the Group for parbcular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financk41 statements. Investment ir￿Jme. gains and losses are aljocaled to the appropriate fund. Income from donations and legacies Unrestri¢led Restricted funds funds 2025 2025 Total funds 2025 Grants Galloway Community Transport Other grants 5,450 126,304 5,450 546.667 420,363 Total Grants 131,754 420,363 552.117 Donations 55.586 55.586 55,586 55.586 187,340 420,363 607,703 Page 28 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income frorn donations and 18ga¢i&s (continued) unrestn.cted fvnds 2024 Restricted funds 2024 Total funds 2024 Grants Galloway Community Transport Other grants 25,500 198.282 25,500 267.119 68,837 Total Grants 68.837 223.782 292,619 Donations 73,478 78,749 152.227 73,478 78,749 152,227 142.315 302.531 444,846 Income from charltable actlvltles Unrestricted funds 2025 Rostricted funds 2025 Total funds 2025 Community eamed income Galloway Community Tiansport Events & Exhibitions 148,311 167,341 348 18,333 50,195 148,659 185,674 50,195 315.652 68,876 384,528 Unrestricted fvnds 2024 Restr*cled funds 2024 Total funds 2024 Community eamed income Galloway Community Transport Events & Exhibitions 145,568 164.732 6,546 9.135 49,515 152,114 173,867 49,597 310,382 65,196 375,578 Page 29 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Cornpany Limited by Guaranteèl liOIEa iv IFiÉ riliMliCiAi SIAIEMENI> FOR THE YEAR ENDED 31 AUGUST 2025 Income from other trading activities In¢ome from non charitable trading activities Unrestricted funds 2025 Total funds 2025 Retail operations 21,024 21.024 Unrestricted funds 2024 Total funds 2024 Retail operations 24.381 24.381 Investment Income Unrestricted funds 2025 Total funds 2025 Bank interest recetvable 4.296 4,296 Unrestricted funds 2024 Total funds 2024 Bank interest receivable 2,132 2,132 Other incoming resources Unrestrl¢ted funds 2025 Total funds 2025 Other incoming resources 13.392 13.392 Page 30 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Other incoming resources Icontinufjdl Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Other incoming ￿SoUrceS Management charges for Legacy FLsnd 9.387 4,800 6,500 15.887 4,800 14.187 6,500 20,687 Expendttur& on rai$lng funds Fundralslng tradlng expenses Unrestricted funds 2025 Total funds 2025 Retsil operations costs 11,973 11,973 Unrestricted funds 2024 Total funds 2024 Retail operations costs 10,765 10.765 Page 31 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guaranteè) Gics Tv inc rii4ArYbiAi aiAJEknEli I J FOR THE YEIR ENDED 31 AUGUST 2025 Analysis of expeTrditure on charitable activities S￿Mmary by fi￿nd type Unrestricted Restricted funds funds 2025 2025 Total 2025 Expenditure on community earned income Galloway Community Transwrt 448,285 145,687 285,358 19,972 733,643 165,659 593.972 305,330 899,302 un￿strICted funds 2024 Restricted funds 2024 Total 2024 Expenditure on community eamed income Galloway Community Transport 392.654 125.964 286,525 18.667 679,179 144,631 518.618 305,192 823,810 Audktors. romunoratlon 2025 2024 Fees payable to the COmpan￿S auditor for the audit of the ￿MpanIS annual accounts 16,735 15,495 Fees payable to the companls auditor in respect of.. I non-audit serwces not induded above 4.700 4,350 Page 32 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10. Staff costs Group 2025 Group 2024 Company 2025 Company 2024 Wages and salaries Social security costs Contribution to defined contribution pension schemes 329.488 27.947 333.483 18.757 282.040 27.947 290,888 18,757 6,120 6.034 6.120 8,034 363,555 358.274 316.107 315,679 Included in the table above is £47,44812024 - £42.5951 of wages paid under the PAYE scheme of The Glenkens Community & Arts Trust that have been wharged lo Galloway Community Transport SCIO. The average number of persons employed by the company during the year was as follows.. Group 2025 Group 2024 No. Company 2025 No. Company 2024 No. Administration & support 26 25 26 25 No em￿0ye8 received remuneration amounting to more than £60.000 in either year. The Charity considers seven members of paid staff lo be key management personnel and the lolal remuneration for these stsff members amounis to £218.19012024 - £229,818 for seven stsff members) Self employed drivers Group 2025 Group 2024 Self employed driver fA)sts 65,704 60.333 65.704 60,333 11. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits {2024- £NILI. During the year ended 31 August 2025. expenses totalling £100 were reimbursed Of paid direclty to Trustees {2024- £NILI. Page 33 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limitèd by Guarantee) 40 J ES TO i rit ri14141¥CiAL > I ATtlVlLi4 I J FOR THE YEAR ENDED 31 AUGUST 2025 12. Tangible fixed assets GrDLIP Freehold Plant and property machinery Motor Fixtures and vehicles fittings equipmen Total Cost or valuatlon At 1 September 2024 Additions Disposals 1.555.261 62.228 5.952 454.188 180,605 36.473 {8.4001 1,070 1,886 2.197.076 100,587 18.400) At 31 August 2025 1.617.489 5.952 454.188 208,678 2,956 2.289.263 Depreclallon At 1 September 2024 Charge forthe year On disposals 273.300 31.935 5.950 169,530 56,941 167,734 13,952 {8,3971 536 617.050 103.096 18.397) At 31 August 2025 305,235 5.950 226.471 173.289 804 711,749 Net book value At 31 August 2025 1.312,254 227,717 35,389 2.152 1.577.514 At 31 August 2024 1.281.961 284.658 12.871 534 1,580,026 Page 34 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12. Tangible fixed assets Icontinu8d) Company Freehold property Motor Fixtures and vehicles rittings equipment Total Cost or valuation At 1 September 2024 Additions Disposals 1.555.261 62.228 107,218 180.605 36,473 {8.4001 1.843,084 100,587 {8,4001 1,886 At 31 Auoust 2025 1.617.489 107,218 208,678 1,886 1.935,271 Depreciation At 1 September 2024 Charge for the year On disposals 273,300 31,935 107.218 167,734 13,952 {8.3971 548,252 45,887 18,3971 At 31 August 2025 305.235 107.218 173.289 585,742 Net book value At 31 August 2025 1,312,254 35.389 1.886 1.349,529 At 31 August 2024 1,281.961 12,871 1,294,832 13. stocks Group 2025 Group 2024 Company 2025 Company 2024 Finished goods and goods for resate 8.718 12.609 8,718 12.609 Page 35 THE GLENKENS COMMUNITY AND ARTS TRUST LIMITED IA Company Limitad by Guarantèè) liu L O t bst trili1￿ClAi OT A i Ei¥kEI¥ L o FOR THE YEAR ENDED 31 AUGUST 2025 14. Dèbtors Comptiny 2025 Duo within one year Trade debtors 14.223 30.005 5.277 7.341 7,188 6,705 29,969 6,941 4,702 6.009 4.811 Other debtors PrepayTnents and accrued income 52,873 19,8 43,615 15,522 15. Credltors: Amounts falling due within one year Group 2025 Group 2024 Company 2025 Company 2024 Trade creditors Amounts owed to group undertakings Amounts owed to other participating interests Other taxation and srKial security Other creditors Accruals and deferred income 6.774 7.388 5,983 3,961 30,200 9.060 7,388 30,200 9,060 45.2LK) 5,377 95 45,200 5.377 95 34.520 45.600 36,370 43.600 91.634 94.430 92.804 92,580 Group 2025 Group 2024 Company 2025 Company 2024 Deferred income al 1 September 2024 Resour￿$ deferred during the year Amounts released from previous per￿S 25.032 5,484 3.754 15,4841 25,032 5.484 125,0321 3.754 15.484) 125,0321 3.754 5,484 3,754 5,484 Deferred income includes grants received that specthcalty cover tim& peri(xJs which occur post year end. Also included is.. Gazette 8dverttsing income which has been received before the year end but the Gazette issue has been pijblished in the next financial year. Page 36 THE GLENKENS COMMUNrrY AND ARTS TRUST LIMITED (A Company Llmitod by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16. Ststemenl of funds Statement of fund$ - current year Balance at 1 September 2024 Balance at 31 August 2025 Income Expendtturg Unrestricted funds Deslgnated funds Revaluation Reserve Galloway Community Transp)rt 139,336 275.849 (3,483) 155.2211 135,853 220,628 415.185 158.7041 356,481 General funds General Ftjnds General F¥Jnds GCT 44,909 109.771 374.IM6 167.658 (388.382) (158.859) 30.573 118,570 154,680 541,704 1547.241} 149,143 Total Unrestricted funds 569.865 541,704 1605,9451 505.624 Restricted funds Capitsl Asset Fund - Calslrand Capital Asset Fund - Smiddy Calslrand Young Creatsves Calslrand Arts GCT- Patient Transport Community Cultural GK Decarb 758.266 359,525 27.566 89,497 18.496 18.597 127,0011 110.4831 182,6611 1141,6961 {9,986} 117,1671 114,4211 (1,9151 731,265 349.042 71.239 75.870 27,240 26.803 85.191 89.206 126.334 128,069 18.730 25,373 99.612 91,121 1.271,947 489,239 {305,3301 1,455,856 Total of funds 1.841.812 1,030,943 (911,275) 1.961,480 Page 37 THE GLENKEN5 COMMUNITY AND ARTS TRUST LIMITED IA Company Limited by Guarantee) Nu i LJ i O i trit trit4AliiiAL > i AL El¥itF4 i FOR THE YEAR ENDED 31 AUGUST 2025 16. Stalement of funds Icontinuedl The flp.%ignalp.d Rev?liSalioi'. Rp<*%ryp fiind rp.prp.sp.nls the. diffe.renc.e. on Ilie re.valLl3tion of Ihp frp.phnld and bu.,Idip.gs ag21P.- ct tho nrinin?* 2nd does not repr<*S