SCOTLAND’S FINEST WOODS A Company limited by guarantee And not having a Share Capital
Charity Registration No. SC039099 Company Registration No. SC294388
DIRECTORS’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
SCOTLAND’S FINEST WOODS
1.
| Directors: | Guy Watt (Chair, to 26 May 2025) |
|---|---|
| Wilma Harper (Chair, from 26 May 2025) | |
| Peter Whitfield | |
| Stuart Glen | |
| Timothy Liddon | |
| John Paterson (resigned 12 December 2025) | |
| Alison Chisholm | |
| Samantha Howard | |
| Dr Alicja Dzieciol (resigned 11 May 2026) | |
| Secretary/Administrator: | Jean Nairn |
| Bankers: | The Royal Bank of Scotland |
| 151 High Street | |
| Dumfries | |
| DG1 2RA | |
| Independent Examiner: | Christopher Spalding C.A. |
| Pentland Estate | |
| Straiton | |
| Edinburgh | |
| EH20 9QH | |
| Registered Office: | 1 Ravelston House Loan |
| Edinburgh | |
| EH4 3LY | |
| Company Registration No: | SC294388 |
| Charity Registration No: | SC039099 |
| Governing Document: | Memorandum and Articles of Association |
SCOTLAND’S FINEST WOODS
2.
Report of the Directors For the Year ended 31 December 2025
The Directors who are also the Trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Objectives and Activities
For the benefit of the people of Scotland as a whole:
To promote sustainable woodlands and their environs for educational, research, environmental, social and recreational purposes for the benefit of local residents, visitors and the public in general.
To promote a greater understanding and appreciation of the environmental, social and recreational potential of trees, woods and forests.
To promote, encourage and secure the educational value of Scotland’s woodlands and its scenic and historic qualities including the provision of facilities in the interests of the physical, social and cultural welfare of the people of Scotland as a whole.
Achievements and Performance
In 2025, the awards programme attracted a total of 43 entries across 7 categories of Awards. A new Award for Urban Forestry, sponsored by Future Woodlands Scotland, was presented for the first time. A new sponsor, Glennon Brothers, came on board for the Quality Timber, New Commercial Woodlands Award with a new trophy commissioned and presented.
The Trustees were delighted to host the annual Awards Ceremony as a dedicated event once again at the Scottish Parliament on 4[th] December 2025. There were 25 awards presented with 11 winners on the night. The Trustees are grateful to Mairi Gougeon MSP, Cabinet Secretary for Rural Affairs, Land Reform & Islands and Finlay Carson MSP, Convener of the Rural Affair, Land Reform & Islands Committee and our sponsoring MSP for the event, for their contributions to a joyful celebration and for presenting the Awards and prizes. The event was well attended by awardees, sponsor and supporters as well as Trustees and judges.
The Trustees are grateful to all sponsors and supporters for enabling the annual Awards programme to take place, to the entrants for taking time to submit an entry, the volunteer judges for assessing all the entries and to all involved in making the event the success it was.
The awards made were :
Early Years Award
Winner of the Scottish Forestry Early Years’ Trophy: West Johnstone ELCC, Johnstone, Renfrewshire
Runner Up:
Glenburgh Nursery Centre, Rutherglen, South Lanarkshire
Schools Award
Winners of the Crown Estate Scotland Schools’ Trophy: Hardgate Primary School, Castle Douglas, Dumfries & Galloway
Runner Up:
Selkirk High School, Selkirk, Scottish Borders
Urban Forestry Award – new for 2025
Winner of the Future Woodlands Scotland Trophy for Urban Forestry: TreeLink Stirling for Free Fruit and Nut Trees
Highly Commended: Clyde Climate Forest
SCOTLAND’S FINEST WOODS
3.
Report of the Directors (Continued)
Achievements and Performance (continued)
Awards made (continued)
Winner of the F&W Forestry Farm Woodland Award and Lilburn Trophy:
Rhanich Croft, Edderton, Highland
Highly Commended:
Gascoigne Farm, Biggar, Scottish Borders
Climate Change Champion Award
Winner:
Selkirk High School, Selkirk, Scottish Borders
New Native Woods Award Winner of the Woodland Trust Scotland Trophy for New Native Woods:
Rest & Be Thankful, Forestry & Land Scotland and Transport Scotland, Glen Croe, Argyll & Bute
Highly Commended:
Baleveolan Croft Woodland, Isle of Lismore, Argyll & Bute
Highly Commended:
Ceannocroc Lost Woods, Glenmoriston, Highland
Highly Commended:
Talla & Gameshope, Borders Forest Trust, Tweedsmuir, Scottish Borders
Commended:
Attinlea Memorial Wood, Nethybridge, Cairngorm National Park
Commended:
Kilbraur Sheep Stock Club, Rogart, Highland
QUALITY TIMBER AWARDS
Single Stand, Compartment or Small Woodland Winner of the Hunter Blair Trophy for Silvicultural Excellence:
Forestry and Land Scotland for Braeval Forest, Aberfoyle, The Trossachs
Commended:
Hunter’s Wood, Sorn, Ayrshire
Commended:
Wester Loch, Hawick, Scottish Borders
Multipurpose Forestry Winner of the John Kennedy Trophy for Multipurpose Forestry: Quinlochmuir, Strathblane, Stirling
New Commercial Woods category Winner of the Glennon Brothers Trophy for New Commercial Woods: Moorfoot, Penicuik, Midlothian
Highly Commended:
Glendivan, Langholm, Scottish Borders
Highly Commended:
Rhanich Croft, Edderton, Highland
Community Woodlands Award
Winner of the Large Community Woodland Group competition and of theTim Stead Trophy for overall Community Woodland Award Winner:
Gifford Community Land Company Ltd, East Lothian for Fawn & Speedy Wood, Gifford, East Lothian
SCOTLAND’S FINEST WOODS
4.
Report of the Directors (Continued)
Awards made (continued)
Highly Commended - Large Community Woodland Group competition:
Sleat Community Trust, Isle of Skye for Tormore Community Woodland, Western Isles
Highly Commended - Small Community Woodland Group competition:
The Patons of Dunfermline charity, Wooers’ Alley Team and Fife Council, Dunfermline, Fife
Financial Review
The financial statements follow on pages 7 to 12. The accounts period ended has been extended as the awards event took place later in the year.
The principal funding sources are grants received from parties interested in the promotion of the objectives of the company and are shown in the financial statements.
Reserves Policy
The General Reserve stands at a balance of £30,000. The target for this fund is based on 100% of the likely annual costs of the charity and is retained to meet unforeseen events in the future due to a fall in income or rise in costs. Due to increased activity and costs the fund does not meet the full criteria at the year end.
Plans for Future Periods
The Directors will seek to build on the success of the previous years of competition. In particular, the Directors will seek to continue raising the profile and relevance of the Awards and to maintain the financial contributions and the diversity of those contributing to the Awards.
Reference and Administrative Details
The information relating to Scotland’s Finest Woods is on page 1.
Structure, Governance and Management
Scotland’s Finest Woods is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 8[th] December 2005. The liability of each member is limited to £1. The company was registered at Companies House as a private limited company on 12[th] December 2005 and registered as a charity by the Office of the Scottish Charity Regulator (OSCR) with effect from 20[th] December 2007.
Recruitment and Appointment of the Directors
The Directors of the company are also charity trustees of the purpose of charity law and under the company’s Articles are known as members of the Board of Directors.
Directors are appointed by agreement among the serving Directors. The Directors are recruited to maintain a balance of skills within the Board. Appointees are usually already familiar with the operations of Scotland’s Finest Woods. They then participate in an induction programme which includes meeting with the Administrator and Board of Directors to familiarise themselves with the charity and the context within which it works.
No Director is remunerated for their service as a Director.
Organisational Structure
The charity is organised so that the Directors meet to manage the company as necessary. The Board is responsible for making decisions and a record of these is contained in the minutes of each meeting.
Key management personnel remuneration
The Directors consider that they and the Administrator as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Directors give of their time freely and no trustee remuneration or expenses were paid in the period.
Directors are required to disclose all relevant interests and register them with the Company Secretary and in accordance with the Charity’s policy withdraw from decisions where a conflict of interest arises.
The Directors are responsible for appointing the Administrator who is not an employee and is appointed on a service contract basis. The level of the Administrators fee is reviewed annually in accordance with rates appropriate for the role.
SCOTLAND’S FINEST WOODS
5.
Report of the Directors (Continued)
Risk Statement
In pursuing the Charity's objectives, the Directors are responsible for publicising, running and judging an annual competition to identify Scotland's Finest Woods and for arranging an appropriate Award ceremony. They maintain and keep updated a formal risk assessment matrix that is reviewed at least annually. There are three main risks: loss of key personnel, funds failing to meet requirements and the loss of Scottish Government support through the funding provided by Scottish Forestry for meeting part of the cost of running the Awards and the hosting of the Awards ceremony. Steps to minimise each of these main risks are identified with the actions required detailed to mitigate each risk.
Directors’ responsibilities in relation to the financial statements
The charity Directors are responsible for preparing Directors’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in Scotland requires the charity directors to prepare financial statements for each period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements the directors are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities Statement of Recommended Practice;
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Make judgements and accounting estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charity Accounts (Scotland) Regulations 2006 (as amended), and the provisions of the Memorandum and Articles of Association. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Independent Examiner
Christopher Spalding C.A. has indicated his willingness to continue in office and a resolution proposing his reappointment will be put to the Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
By Order of the Board
Wilma Harper, Chair Director
29 June 2026
SCOTLAND’S FINEST WOODS
6.
Independent Examiner’s Report to the Members For the Year ended 31 December 2025
I report on the accounts of the Company for year ended 31 December 2025 which are set out on pages 7 to 12.
Respective responsibilities of the Directors and independent examiner
The Directors are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Directors consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44 (1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of Independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the Directors 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 Directors 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 in the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44 (1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Christopher Spalding Chartered Accountant (ICAS) Pentland Estate STRAITON Edinburgh EH20 9QH
29 June 2026
SCOTLAND’S FINEST WOODS
7.
Income and Expenditure Account and Statement of Financial Activities For the Year ended 31 December 2025
| Notes Income Charitable activities 3 Investment income Total Income Expenditure Charitable activities 4 Total Expenditure Net Income Reconciliation of Funds Total funds brought forward Total Funds carried forward 8 |
15 months to 2025 31/12/2024 £ £ 50,776 49,353 380 737 51,156 50,090 46,255 49,735 46,255 49,735 4,901 355 42,016 41,661 46,917 42,016 |
|---|---|
The results set out above derive wholly from the continuing operations of the company. The company has no recognised gains or losses other than as stated above. The above income and expenditure relate to unrestricted funds.
SCOTLAND’S FINEST WOODS
8.
Balance Sheet As at 31 December 2025
| Notes Current Assets Debtors 6 Bank Creditors Amount falling due within one year 7 Net Assets Reserves Unrestricted Funds 8 |
2025 £ 19,775 37,663 57,438 10,521 46,917 46,917 |
2024 £ 3,303 43,160 |
|---|---|---|
| 46,463 | ||
| 4,447 | ||
| 42,016 | ||
| 42,016 |
These annual accounts have not been audited because the company is entitled to the exemption provided by S477 of the Companies Act 2006 and members have not required the company to obtain an audit of its accounts for the period in accordance with S476 of the Companies Act 2006. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records that comply with S386 of the Companies Act 2006. The directors also acknowledge their responsibilities for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial period in accordance with S396 Companies Act 2006, and which otherwise comply with the requirements of that Act relating to accounts, so far as applicable to the company.
These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies’ regime. The financial statements on pages 7 to 12 were approved on 29 June 2026 and signed on its behalf by
Wilma Harper Director
SCOTLAND’S FINEST WOODS
9.
Notes to the Financial Statements For the Year ended 31 December 2025
1. Statutory information
Scotland’s Finest Woods is a private company, limited by guarantee with charitable status and registered in Scotland. The company’s registration number and registered office address can be found on the Reference and Administrative Details page.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of Accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - Charities SORP (FRS 102) and the Companies Act 2006.
Scotland’s Finest Woods meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Going concern
The financial statements have been prepared on a going concern basis as the Directors believe that no material uncertainties exist. The Directors have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Donated services
In accordance with the Charities SORP (FRS102) general volunteer time is not recognised in the accounts.
Income
All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Sponsorships and grants are recognised when they have been communicated in writing with notification of both the amount and settlement date. In the event that income received is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank.
SCOTLAND’S FINEST WOODS
10.
Notes to the Financial Statements (continued) For the Year ended 31 December 2025
2. Accounting Policies (Continued)
Expenditure
Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Fund accounting
Unrestricted funds can be used on any activity within the charitable objectives of the charity.
Designated funds are unrestricted funds of the charity which the Directors have decided at their discretion to use for a specific purpose.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is in note 7 to the financial statements.
Cash at bank and in hand
Cash at bank and cash in hand includes costs and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
SCOTLAND’S FINEST WOODS
11.
Notes to the Financial Statements (continued) For the Year ended 31 December 2025
| 3. Income - Charitable Activities Grants & Sponsorship Alba Trees BSW Timber Ltd Carbon Store Central Scotland Green Network Trust Confor Crown Estate Scotland Egger Forestry Products Ltd Forestry & Land Scotland Fountains Forestry UK Future Woodlands Scotland Glennon Brothers Green Action Trust Gresham House Iggesund Forestry Institute of Chartered Foresters James Jones & Sons Ltd Royal Scottish Forestry Society Scottish Forestry Scottish Woodlands Ltd Tilhill Forestry Woodland Trust Scotland 4. Expenditure - Charitable Activities Plaques & trophy maintenance Prize money Judging expenses Awards ceremony Administrator’s fee Media & event consultant Insurance Website & internet costs Miscellaneous outlays Legal fees PR Support Trustees meetings Independent examiner |
15 months to 2025 31/12/2024 £ £ 3,000 4,000 1,050 - - - - 500 300 300 4,000 4,000 1,800 1,800 3,000 3,000 4,000 4,000 5,000 - 4,000 - 300 300 3,726 3,303 - - 300 300 - 2,500 300 300 15,000 15,000 - 4,000 - 1,050 5,000 5,000 50,776 49,353 150 313 9,000 11,000 3,386 925 6,071 5,163 15,000 18,957 1,023 2,342 612 872 - 192 987 251 960 - 8,400 9,000 118 - 548 720 46,255 49,735 |
|---|---|
5. Related party transactions and directors’ expenses and remuneration
The Directors give freely of their time and expertise without any form of remuneration for acting as a Director in this and the previous period.
Key management remuneration in the period was £13,536 (2024 £18,750)
SCOTLAND’S FINEST WOODS
12.
Notes to the Financial Statements (continued) For the Year ended 31 December 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| 6. | Debtors | £ | £ | |||
Trade debtors - sponsorship |
19,775 | 3,303 | ||||
| 7. | Creditors | £ | £ | |||
| Amounts falling due within one | year | |||||
| Accruals | 10,521 | 4,447 | ||||
| 8. | Statement of Funds | |||||
| Balance | Incoming | Outgoing | Balance | |||
| 31/12/24 | Resources | Resources | Transfer | 31/12/25 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted Funds | ||||||
| Income & expenditure | ||||||
| account | 12,016 | 51,156 | 46,255 | - | 16,917 | |
| General Reserve | 30,000 | - | - | - | 30,000 | |
| 42,016 | 51,156 | 45,242 | - | 46,917 | ||
| Balance | Incoming | Outgoing | Balance | |||
| 30/09/23 | Resources | Resources | Transfer | 31/12/24 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted Funds | ||||||
| Income & expenditure | ||||||
| account | 11,661 | 50,090 | 49,735 | - | 12,016 | |
| General Reserve | 30,000 | - | - | - | 30,000 | |
| 41,661 | 50,090 | 49,735 | - | 42,016 |
The Income & Expenditure balance is an unrestricted fund which is for use for the objects of the charity. The General Reserve is a fund designated by the Directors to be retained to meet unforeseen and statutory obligations which might arise in the future. The Directors consider the formation of this fund to be prudent and not available for the normal activities of the Charity. The target for this fund is based on 100% of likely annual running costs.