GLASGOW ITtNT.4GE VEHICLE TRUST C034 FOR 31 MARCH 2025 EAC .4CCOUNTAlsCY LIl+4ftTED CHARTERED CERTIFtED ACC TANTS sIIoThs
GLAS w VrAGE VEHICLE TRUST TRUSTEES. ANNLIAL REPORT ENDED I MARCH The management committee presents its annual report and accounts of tlie GVVT for the year end 31" March 2025. Committee Men]bers of the committee who q . oughout the year are (Fovemin(F Document The Trust is governed by a Trust Deed and is administered by the committee whose members are elected at the Annual General Mccting. Ob ects and Activities The objects of the Trust are to preserve Commercial Vehicles for posterity and to maintain records of Road Transport activities for historical research and educational punx)ses. inancial Review The principal sources of income are from members, subscriptions and the storage of vehicles. Open Weekend. Open Sundays ]d guided tours taL' e place durinb) the Summer. These have all lielped lo increase incorne. Books on transport subjects continue to bc published. A substantial legacy was received during the year which enabled the bank loan to be paid off. Running cxpensc5 Ii<lVC iiicreased mainty because of the employment of full-time staff, althougb therc W a reduction in vehicle restoration costs. The overall result is that an increased surplus has IKen achieved.
GLASGOW IqNTAGE VEHICLE TRLTST TRUSTEES. ANNUAL REPOR THE ENDED I NI.4RCFI"O?f CONT'D ChaIrnL"S RevÈe Financial year 2024125 presented a number of notable opportunities for Gwf. The Trust was fortunate enough to receive a substaniial legacy. Along with some reserves, the legacy was sufficient to help clear the bank loan which had been taken out to purchase the garage building. This act has saved a siJo ih-cant amount ot inlerest that would have h¢en P¢ud had the loan reached the end of its ler]n. The garage building is now wbolly owTred giving the Trust a solid base for the future. A sizeable reserve has also been maintained. The Trust has continued to dcvclop its offcring and Slill proves popular Vi'ith visitors. Ivhile visitor numb¥rs were down a liiile compared with the year bLfore, the ILTrcl ot. iiicoiiie frum events has held up well showingy a modLSt increase in spend per visiior. TIIL Tntsi had also supplerne.ryted tlie runnino costs of Back on the Road IGlasguw ) CIC. Tliese funds were refunded after Back on the Road Tr"as able to s¢cure funds from other sources. Though the Trust nnvi empl()!s a building manager fijll time with associated costs, therc has been a large drop in building mainl¢nance costs where much more of this type of work can now be tackled in house. ItL sunllnary, following tlic dLLiolls this year. the current outlook for the Trust is good with a stablL bitse on which io buÈld a sustainable future. Statement of Trustees, Res onsibiliTies The members of the conllnittee Must prcparc financial stemellts which give sufficieni detail to enable (Ul (tppreLiaLiun of the transactions of the Trust during the fllwicial year. The members of the committce are responsible for keeping proper accounting records which must reflect the financial position of the tn at any time. This must be done to ensure that the financial statements comply with the Charities and Trustee Investmenl (SL'otland) Act 2005 and the ChaEities Accounts (Scotland) Rcgulations 2006. They are also responsible for safeguarding the assets of the trust and must take reasonable steps for the prevention andlor detection of fraud and other irregularities. 22." April 2025
GLASCOW VINTAGE HICL TRU T OF FINANCIAL ACTIVITIES 31 MARCH 2 Unreskn"cl&S Funds Restric1& Fu ot8 Tots 024 2Cs INCOME ANO END0ENTs FROM ChanlablÈArtNrtes TOTAL INCODE 3¢2,001 302 CAJ1 302,QOI 302.001 180,T44 180.744 180.744 180,744 EXPENDITLIRE CI4 CharitableAdMties Governan Costs Oth•f 171,509 150 171.so 150 4.OBO 175 739 156,467 125 2.2 158,782 156,457 126 12ty) 158.782 175,739 NEf INCOME 128.262 21.962 21,Q62 RECONCILLATK)N OF Fufrlos Not N4J¥*mont kn Fufids Total Fttnds Btwghl FoThvar TOTAL FUNOS CARKEL) FORWARD 1_ry,282 411.947 128.2S2 411.947 538.209 2'.,9G2 389,9e5 411,947 21.982 389 985 47 1.947
GLASGOW VINTAGE VEHICLE TR ST NC AS AT 31 MARCH 2025 31.03.25 31.03.24 31.03.24 Tangibk assets Inve8tments 419.590 419,590 419,590 419,590 Current Assets Debtors Cash in bank Cash on hand 729 121.833 4.927 172,915 Creditors Bank loan 5,243 2.683 20.628 23.311 10 118619 538.209 575,121 Bank loan 163.174 Fu ds ofthe Cha Endowment fuThJs Restricted fijnds Unrèstrictéd funth 411,947 411,947 538 209 Thes8 accounts wera approvèd by th• Managoment Committee on 22nd hpril 2026 and wefe oi ned on itg behalf b
LASGOW vIKfAGE V&HICLE TRUST 11 TRUSTEE REMUNERATION AND RELATEO PARTY TRANSACTIONS 1 trust•• r•d £910 for acwuntancy 8WViC•O. No Iruse ors ppr5on rElated toatrukn had any persond intere in any contract •nlweé into by tho charity dunng th8 ar. Some iw¥tee$ store vehKkry¥ 4ilh Iho Truat cffj oxady the 8am• terns othar rMmb¢r8 un$tj Restiicted FuThJ8 20 21 ANALYSIS OF REGEIPTS CFL4RrrABLEA¢nviTIES Memberl aub#criMn• Vehe sutertsknns Donatkjni Gift Ad Roorn renta Loc•tion fe•s Putlicatn saTes klerchandige saes Sale of xrap & spares Open ekend OF¢n Sundays Bikerevent F•mly d•y Tours 14,82¥ 87.890 10.119 1.431 9.073 14.O2b 87.890 10.819 1.431 9.073 85 10,121 10.445 144 25.899 12.008 1,608 4.855 12.¥¥1 e5.050 7.449 1.754 10.558 100 5.049 8.847 918 25.657 14.552 12,591 85,050 7,149 1,754 10,556 100 5,049 8.647 k16 25,657 14.552 10.121 10.445 144 25.899 12.008 1.608 4.855 3.668 2.386 106,437 508 3.855 2.768 3.855 2.768 2.386 1C.437 Leg4 Copyn"ktf8e Gaii on 38le ot buze 1.0 100.744 1.600 180,744 302 001 302 001 31 ANALYSIS OF PAYNENTS CHAR ABLE ACMVlnES Wages Penn Prwrty upkn•p aearvng C¢)osumables VEhbSe re&tornlM ethtty Insurarte 34,165 1,858 12,768 2,130 1,383 34.169 1.858 12,768 2.130 1.383 9.736 330 34.604 1.300 1.829 34.721 6.029 497 11.708 1.832 3.376 3.726 5.200 971 1.277 7.157 1.915 9,738 330 34,504 1,300 1.829 34.721 6.029 497 11,708 1,832 3.376 3.7?0 5,200 971 1.277 7.157 1,915 6,322 6,322 •t & f4ht Fa StaQg PDStag• PrfnliTrJ & •b'gn•ry AdthsThJ T¢ph$ SubscrfFrtns v•hle Nnninq expenws Open %4Eeke Open Sundays Book printing Cost of sa Archive Ace•untncy F 13,0S2 1,880 2,622 13,052 1,688 2,622 4,804 6.631 1,027 920 11.635 2.430 884 1,356 7,$38 18,593 3240 1,280 33.199 280 937 6,631 1,027 92Q 11.635 2.430 1,356 7.53a 18.593 3.240 1,280 33.199 250 837 389 224 171 509 1.015 8.375 4.25YI 3.240 1.153 10.810 6n t.015 8.375 4.29D 3.240 1.153 10,810 672 10 Prewnt•tKni 8 prfz•i Hosp¢éhly TRvel SundrfE¥ 224 171 509 21B 156457 218 41 ANALYSIS OF PAYME8 GOVERNANGE COSTS lfvJ•peThJenI•xtm1erfj fee 125
GLA GOW VINTA VEHICLE TRUST NOTES ro rHE ACCOUNTS CONT'D YEAA ENDED 31 MARCH2 25 S. DEPRECJATION Depreaalon 1$ tharyèd ot the r8le of 100% kn the year of purchase. No depreciation has been charged on the prom as Ihe Trnstees consider the ffl3t value lo be greatsr than ¢ost. 8. TANGIBLE FIXED ASSETS 2D24 Piu Pm Plant Cosl At 1 Apr 21Y24 Purthased duriro ar At 31 M8rd12025 419,590 59,714 419,590 2.200 59,714 419,590 Dewecialic At 1 April 2024 Charge for ye¥ Aggregate ¢lekYeaation 59.714 4,080 63.794 57,514 2.2CiI $9,714 Net BO Valu¢ 419.5 419590 7 INVESTMENTS 100Oh ofthe Lssu&J shar& G8Mal of GVW Ltd At cost Wntten off maet V•lue 1Crf) 100 8. DEBTORS &Jndry debtors 729 4.927 9. VEHICLE RESTOFiATION COSTS Thi$15 morEy paid lo BACK ON THE ROAD InaLASGOWI CIC to a$sis1 wilh the cost of regloring vghide8. As well as P10Yea8 vrages cwr conlributes to the rA)sl of $tOr8"0r7 malerials. 10. BANK LOAN Th8 monlhty ban repoyments are spm betw•pJ) trapital intwesl on a stratrJhl Ilne basls over trt loar) perknd. Eady rerjay*nt of the in fiAI was made N) October 2024.
GLASGOW VINTAGE VEHICLE TRUST REPORT OF THE tNDEPENDENT EXAMINE THE YEAR ENDED 31 KLQRCH 2025 I report on the accounts of the Clty which are set out on pages I to 6. Respective responsibilities of trustees and examiner The Charity's trnstees are responsible for the preparation of the accounts in accordance with the ternis of the Charities and Trustee Investment (Scotland) Act ?005 and the Charitics Accounts (Scotland) Regulatioiis 2006. Tlie cliarity trustees consider that the audit reqiiirement of Regulation l O( l) (d) of the Accounts regulations does not apply. It is rny responsibility to examine the accounts as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention. Basis of independent examiner's stydtement My examination is carried out in accordance with Regulation I l of the Charities Accounts (Scotland) Regrulations 2006. An examination includes a review of the acLUUnting records kept by the charity and a comparison of tbe accounts presented with those records. It also includes consideration of any unusual iterns or disclosurcs in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statemeDt In the coLse of my examinatio no matter has come to my attention. which givcs me reasonable cause to believe that iii any material respect the requirements: to keep accounting records in accordance with Scction 44 (1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prep accounts which accord with the dbLountin¥ records. and comply with Regulation 9 of the ?006 Accounts Regulations have not been met, or to which. in my opinion. attention should be dravln in order to enable a cr iindcrbtoindi:irT of tlie 1CCI)IIMt- ti) be reacliLd. nd 22 April 2025
GLASGOW VINTA E VEHICLE TRUST SCHEDULE OF FIXED A SETS YEAR ENDED 31 MARCH 2025 Purchased durin ear Agg W.D.V. 11 Dep'n Cost Pro 76 Fordneuk Street Glasgow 419,590 419.590 V hicle WG 2373 Leyland WSD 756K Leyland P491 MBY Volvo LX51 FOF Dennis GYS 896D Leyland KUS 607E Leyland GGE 173T Leyland 6,$00 6.500 3,105 2,750 12,355 3.105 2.750 12,355 ui Compressor Fork Lift Trucks Storage Vehide Lrfts Booster Pack Scooter Office Equipment Garage Equipment SvReper Axle Stands 7,740 5.190 11.108 17.075 981 135 2.191 1.742 1,197 7,740 5,190 11,108 17,075 981 135 2.191 1,742 1,197 4,080 51,439 4,080 4,080 4,080 47,359 479,304 419,590 4,080