SLi)43116 20Z41 Fln•Thd Stst¢uwmty ftyr the Year End¢d 31 Murh 2024 for Ststy¢(Yy AudIr RJ"VCT5wJe How¢ Ga]ashicLs Scottish BorderJ 7DI IBT
Reporl oftkn Truthes for the Yer Ettded 31 M•rth 2924 Tr Trwthes FrfV¢nt their R¢pTrl togetrr with the Fin1 Staterllents of the Ch4rithble Tn¢ for the Jt4r ¢fyts1316t March 2024. Tr Finao¢ial Stsicments ve Ercn PTrpurd itj Torde th¢ Accc4mlin8 Policits sei out OD P4es I I to 12 and lY with thc Trust Dce41 aTrl I11¢bk Jaw. comply the Tn8 goTrnrntDg thc Clwities 8TtsJ Tnuw Ien[ (ScodIO Att 25. the Cluritse8 A¢counts IS¢otlatsO) Re¥u]a¢iw 2(KhS al[ded) •Ni 'Accouniin8 aTkl RwniAB by Clwitie8.' Stsm¢at of Rmmered Pnctice appliuble to charities wrywin8 their in arde vrith th¢ FInKIllI Repoffitig Standatd applieable in ts UK Republi¢ of Irelatyj (FRS 102)" 4men&d for &countio8 from l J2010) ObJe¢dv¢s and aln A Thc objccts of the Tnw •rt foff the disknbuiion ofthe free of ittome for the aid and advarMl of fr1th •nd edati0v.' (i) by njakujs to or b) U6isi in th consritutioo of aoy club or other (rpnI8atio the objeal of wbich e devod the pmviiiott of fciliiie4 for the ed&tim JhS trrriDiDg in all manDer of and Craft4 aod ph1¢1 cultttye of the tOW7Lryyle of pthat¢v¢r4Y of G8]AshieJ8 Of Dei&hExxrlKrt)d (hereiDatsrnll¢d"GalaJhi¢ls'l (li) by maknn8 to LThrithbk IntiUltio4 ACl•ti(S YrArtb Chth. Bw Club or Bimilv orytiimtion ScodAad, the Obj( of whicb dcvotcd kn thE rnornl or religious c4111n or the tr•inin8 or ie&hin8 or physi¢al wellbeiD8 of childr¢ti or youll8 p¢noaJ {iu) by makntig grants wwarth th¢ trainin8 in • or profeuioo of any pujon fAts) h¥ bew itUPKif8ted either totslly or PArtiAlly, MJeaY or kmpornrily. u A mli of in Y of His M41• Force•, or to w•t •ervic¢ v¢terJw. or aDy Charitable Itis¢ifts¢ionA. Au0eiIS) or like #tsbjij for the Welf8, trthdn edwotion or othen¥1 for th¢ b¢D¢fi¢ of any iu¢bp¢non• or Wu•¢rvI vkn. (iv) by PJLknD8 any Itil10 Ethblijha1I or (>yoiMti¢)ts of * chvitable in scot1& the objKts of whi¢h d¢voled to the carr, tthrttiofy nJainleDan¢e or lfue of the agal or the clrotiic lick or b11J B for the pJYventi¢)n or rekn¢fof poffj by m•kill8 8rJnts I0dI the •¢conullodAUOfy maintemnce or Betternl w¢lfJn of Y perxott in GJl4Jhi¢ls wbo have been w reaidrnt for • period of le40 thAn tell ye•rn &TMI t in need of fi1&1 C for the advallc¢m¢Dt of religion by waking BraD¢s towath thc of Any Church of th¢ Prote8ll1 faith in Gal•sbielJ Dr to the tillititettatsce. well beiM8 or Bera1 welfaTe of rniniitern of th¢ Chwch of Scodatsd D for the relief ofthoae per iti tteed by Teuon of ase, ill I1[ty disability. harthbip or other di9advanta8e by providing or by nJakin8 8rants the provision Duini¢o8nc¢ of 1K>In8 for the use IA trenefii of such perwJLs vtho ar# rtsideni ID Galashiets have bten rtsident foT a puiod of k•¥ than ye4rg. E for the provision of rTeaU0041 fa¢ilitieJ by Dukin8 8rDts towards ony SCIne or Kb¢mes for thc improvcmetlt of amenitlcs of Galasbiels Ildtg with prejudice kn the fore18 8ewrality 8roDts low•rds the provi¥ioD ofnEw public halls. playing fields, parks gnd gardens. Gr•ntrnklnE Poll¢y ITr TTUStiX5 will consider 411 applicatiom made to them xo r¢l4tton io the TnLSt puTro8¢ aod in¢oTne available for distribution from tiD)e to time. The Ttu8t is wrll in the aa nwiy 8rant appli¢alion$ arc received. The Trusttes do Mt COL8id¢r it TIe£Iry to invitt applicati iwi 8Wtyrtness of the TnLSi is eJxcovra8eJ by pre5Cntatsotts in local n¢wspap¢rs. Page I
Reporl of th¢ Trustta f•r thr YtAr Ended 31 M4r¢h 2(124 Charltsble •rtlvld The Tn¥t bs in the Jno%ttnt of fiTJkls by £107J35 (21n3 - £127.472 (dexrt••È)) This Includ tt •ti)uth8 ) rii,134 (&iD} (2023. 1122.724 Ilou)). ExeIlldith¢ rdid uotvaw gal JTrJ the Tn bas a d¢ficii of£154.156 in ts yw {2023 £4.748 tkfi¢ii). over I¢ by £9.491 frow £188.707 £179J17. Thii th¢ Te1[ of • in both Ij penditurn h&8 Increm by £164231 £193.455 £357,686. rn4inly th to the coB¢ of prLry)uty r¢pairn iti 2023r24. Th¢ Tnwt provided mucb Deeded Awiitsllce by 8rants w l indiv1thl £666 •rd 41 Cknitsble Orwusthom I11 uusei totallin8 £70285. FINANCIAI, REVIEW FlnndAi POtIon Th¢ Tjust'i Permaoellt ErwlowiThent FurAI was eteat&J ots 1st April 2023 from Ajjets of ts R S Haywwd Tnjrt aad the LIY Salld Cottw HomcJ. The Ylle of thi8 3111 Mtrcb 2024 WAS £3.941.751 (2023. £3I94,931). Th#¢ w¢r¢ reJtri¢tsow oo the TT¥sVi to itiveit. The investm1 shte8y 18 •ei by the Tnmeeo in COW¥JDction with iDve6tsllent •dMee. The Atrate8y li 8et within ovu•ll policy which otstes ththi the Etslowme•t is irtvestejj hedK¢ infiatio IDYotm¢nt poll¢y ind obJe¢tlve• The TteA has Asoemed the mqior rilkn to which the ia •TrJ ATC Utiified thAt 1Yrt¢ ue in ple to mitigatr to dht miior rith. Trus*ea note that the InvcsttDcni porrfolio from April 2023 to Mthr¢b 2024 BIK)w overall ireaSe of 3.41 /0 (2023 . thowfij In dye of 3.86'AI over the 12 nK)nth wiod mainly due to the UK O¥uaeai RueTVU pollcy It is tbe policy of the TnL6t¢u lo relain only a small working ba]a4¢e of revenue OJDd& The wxp¢1 balance. followiD8 a periodi¢ distribuuon of nts, would noi DOrnllY exceed three months in¢ome. Th¢ PToperti¢s tothpriiing thc Lucy sde)ll Cotta8e8 wryll Tequire upwwJitiB to crmvre thcge rcrnaitt iti TeThant8ble ¢onditiot) and to comply with cncrgy 8uidtlines. There are 115(1 4 fornKr bedsils wbidj the Tru5tec5 are prOlA8 to convert into 2 of 2 bthlmoms tr Tbtx WO will require Rththntial (vital cxrKDth'bJre duriTh¥ the next few year5. Pa8e 2
for the Year £d 31 M•rdb 2•14 STrUCTURL. GOVKRNANCE AND MANAGEMENT Governlnz dotwnt The R S Hayward Tn fonlled u a Ctsriry urth a Deed of Trott by Robert Sonduwn Hjywd dated 26th Mu¢h 1954 yj rewsiered 17th 1955 whler Seoitish Chty Ref¢¢ NuDJber SO)15427. The L4¢y se[SOlI Cotta8e Honm Charity was fornd ufyler a Sclvlle for Consiimion wyj AdmtntStrion of Tr¢ 1cY S•ndeTrm Cotr•8e Home4 daied the I lth May 1933 repsiernl Scottith C1wity Ref¢renc¢ NwDb Sa)14626. (h 13th July 2012 the Officc of the Scottith awity Tryiwion of the R S Ha Tr1 aThJ thE Lucy Sar¥JcTaon CotsaKe HotDes for a tTrnsfer the Haywtrd S•JMler8on Tn und¢r S¢otti8h Cbuity Refr Nwnbcr SC043290. Tru¢¢ re¢rultJntnt lfydthctloll pr(eM Tn]$tru •re rittKt ¢1d by th¢ by the Bomrd Jbje¢¢ kn ¢¢thiion & the AGM. On necesgary. Durin$ the th¢ TEt¢S OD row wca8ioDs. REFERENCE Ahll ADMLYISTRATIVE DETAI Rrytstered ChLrfty Dumbtr SC0432YXI Pike & Cbaprwi 36 Bttnk Street TDI IER Auditori JRW Hogg & Thothrn LLP Sratulory Audiior Riverside Ho# Ladljopc Vale Cialhshiels Scottish Borders TDI IBT STATEMENT OF TRL,STELS' RESPONSIBILI'I'ILS '1ILe tee$ are reswl71]e for preparing thc Rert of the Tru51ee5 and the fiullucial 5ts1ements in accordanre 1th applicable law and United Kingdom Accnunting StaTwJar(Lq (United KingdL)m GeAwJlly Ac(cpted Accountin8 Practicel. P48e 3
Rwrt of dbt Trustce¥ for the Yo•r ZDd¢d 31 Mareh 2024 STATEMENT OF YRUSTELS, liLSPONSIBiuf. Thc law applicable cbarities in Scrfl8r4 the Cl[111 Trutte Invest (S¢1¥0 Act 25. Cbaritics A¢eouDts (scot1) ReKD]atiotss (as llerY) the tyowony of the wrhg1iti#1o the trtte¢s prepue fmancial 8tstem¢ats frr ead) Ye •lwlJ fair ii¢w of 511¢¢ of athirs of ehprity forth&t wiod In preparin8 tlThe fttw&ial mi¢menL% thc tnutee8 alt Tfquilrd . sekct 8uitsble X¢OVDtin8 ll¢le& #nd theo aA)lythem c4)nsi. tb¢ fllwwial position of the cbarity ard to cnable to that the financial sthteDKDts cornpty with the CbAritiei atsl TnL*tt loAent {scollA Act 2(K15. the awitie8 (Scotla Re8ul&i1o 2fK)6 lob aul the pro%%10 of th¢ ¢lwiWs CouTtiO Try re4x>tsJlile for ufegutsdiog the L8sets of the chaTity 1ce for zoz byorde¥of the botrd oftrwte¢8 on 12th Fcknu 2a24 thMI •i8tstsJ on its bejwlf by. PaKe 4
Report •1 the IndependeAt Audlton tts the Trwtcu of Oplnlon 31 MCh 2024 which cornprise the stster1rt of Finatrial Acti%ilJe4 BU1Ce Shea ard to fin1 applitsj Xll their Pry&XlioD iq 4wlic4bk l•w and Utiitsl KiD8dom Ac¢c4mw Stsndard8 (Unitrd Ktn8dom Generally . give 8 and fail view of the of tbE CnI aff&iTh as •t 31M Mw¢b 2024 of its itOmiD8 fe4rArn atyl appI]cl0 of ffesourc4 irKludin8 its 1me aTxI expeI"lUrc. for the )tar thcn . have bxn prcpwed io S¢ with the wDremell of tt Cbaritics and Trustee In%t[nei (Scot]ayil Aci 25 a1 Re8ulati(JD 8 of ts C7wiiie8 Accounts (Scodad) ReBulatioN 2(. Basis for oplDlon We conductJ our audit in accordrye qth Intrrnaiiotial Stsrthrdg on Aliting (UK) OSAS (UKI) Bnd opplicable law. Our reswLsibi]itie8 tb(tt are fiutrr 4k8LnW ID the AudiwTS' rwiljililles for the audrt of thc fina¢181 st8t¢m¢nts se¢rion of our rEW>rt. Wc #re ideDt of charity in with the ethical aDd we hav¢ fi1]th our other ethical t¢skn111 itt ¥¢Ord¢t witb ttse requi We be]ieve that the CoDcluolons rd•tlng to Eolnt eoneertt In auditin8 thc finarKt418tsmellr& ha the tru&cH' ws¢ of ts gOiD8 ixsij of a¢oJwtin8 ill thal individuY or coU¢¢iively. DWY cast stBtii6cani on the cbtritys ability to conLiTwe 80ing Cofkxm a p10d of ur least twelve moLtFo from when the finellI s¢aterneDty¥re Mrthorixd for issue. $tio of this rewt. Other tDformadon The tnjsttts are responsile for the other lllfonDaiio The other inform10 cotrLWW infornwtioll in the explicitly stated iti our repori we do not exprt48 8ny form of &%%urantt ColUsion thcreoL tn contte¢tion with ow audit of tr fina11 statcmcllty our rct{NI111ity is to read tr otheT infonnation aod, in doiti8 go, cottsidu wh¢th¢r the othcr Info0 is materially incon5iSteDt with the financi stam¢nts or our knowledge obtaincd ill the audit or otherwise appeaTS w be materiY misststed. If we identify such nJarial itiCOll5i51cDcics or apparent rnatcriaj tnisstatcrncnts, we are re4ull io detern?tne this gtves rise to a ma*rial mI&statern1 th¢ financial slaicumits theLelVeS. bd oo the we have performe4 we CODclude that there TS a material Page 5
Report of the llldependtnt Audttorn to the Trutee• of Tbe Haywird S4nderwn Trwt MAtttn OD whkh w¢ re reqthed to report by exeeptlon In the light of the knowlge uDd¢ts¢8ndin¥ of the chority aDd its e¥LViTtinme•t obtsined in tha C4)uroe of the iudiL we ve not identified n]a¢eri81 mi81taLements in the Report of the Tnkgtses. We bave nothin8 10 report iti reyci of tbe followin8 ThatteTh the Chariti¢8 Awounts (Swtland) Reltions 2C(NS lu elldl US to repLKt to you if, in our opiniori . adeqte kttd proper a¢couniio8 recordq have Trjt been kept or •d4uate for our oudit bave not been re1Ved from braDches not Trisited by ys.. or . the finwia] statements are not in Jyeemeai with the A¢)11n8 recorda Ard renllns.. or - certain dLscI¢)8ure8 of tN5¢8' r¢mwJcration specified by law not madc., or - we have not received All tbe inf0mtIOn aod ¢xpl8n4liooy we require for Awlit. Ren•1b1ll¢i of tr¥•t¢ A8 explained more fully in tho Statement of Tnuie¢6' R¢qbopJibikilie8. tbe tsiwt¢e$ are r¢8ponJibl¢ for th¢ prepdratioll of the 8thrnents which Rive a aiyj fair View, and for lttttrnll control as the trUSt¢es det¢rminc ij necc88ary 10 enablc the PTep8r4tion of fanCIal Itatemenis that are fre¢ from MaLat misstatem•a¢ whether due to fraud or error. In prepllr1 the fift&181 otstem¢nts, the ttimteei are respotuible for owssin8 tl chDrity8 abi]ity to conlinue AS 8 Boill8 wnc¢rn, diJcloJin& ts applicable. matter8 relfyted to going conc¢m lod yJiDg thc 8oins eoneern basis of tKcouniiDR unl& the trys¢S either inieod to liquidat¢ the charity or to c•ue operatio, or hAv¢ no Tealiitlc Altemdtive but to do 40. Pag¢ 6
Report of the IJKlependtnt Audltor• to the Tru•tw of The H4yiYArd Sanderk)n Tru Our rIo1b[Utkn for the audlt oltht IlnDtlai teMents We ve been appointed as auditors under Scetion 4qll{¢) of the Clwitie& Tn&%tee Inllent (SeotlaDI) Act 2CM)5 aad report ill J¢cordance wAth the Aci and Teleyont T¢8ulatio#8 made or hATring efft ther¢u. (hr objectiv¢g aty to obthiD weasonable AUrance thut whether the f1&1 48 a whole tre fite fro tDat¢ridl mis8thtem¢Di whethtr io hud or ¢rTor, to i&4uc a RcpTrrt of the IndepeDdellt AuditQTS that include8 cginion. R¢awnable tsjurw¢ is a hi8b leycl of wurance, but i& not a 8M8rantee that an audii cottdwh accord&e with ISAS (UK) will Alway8 detrfi 4 mateTiAI mi86thkmellt when it ex1. Mksthten)ents cun arise froni fraud or error ard 4T¢ COn8id¢red material if. individually or in thc ttwc8llt¢ they wyld reagombly b¢ ¢xpttled to influ¢rtt the eeonorni¢ thi$ion8 of taken OD the bR8ts of the4 ffftftnci itAtements. The extcnt to which our prO¢Ur¥ are capable of d¢ttin¥ ITrelarit1U, itKluding fra1 18 det4il•A belov. Iden¢Efyln8 •nd •ueMln¥ pottDtIAI related to Irrryuivltl F4uirÈn8 rn4naBement tttKI trute¢s, I1lA8 obtsitsin¥ 4Dd r¢min8 Prtill8 c<JrKttDinB th¢ hAritgi policie8 and prtKedur¢s relating to.. Identifyin& evaltIll8 and ¢ornpl)ryng with IAWS regulation8 and whether thy wer¢ aware of any ittltsncw on noo compIi&Ac¢; Iktfxtin8 And resnding to th¢ TiJk8 of fraud ond whether they hAVe any'know1e of •ny actual. 8UsPted or alle4 fraud. otyd The intemat pro¢es8u e8tablith¢d mitiyt¢ riskN relèted to or n0n-eomplia¢ with r¢8uiatiofjJ: Dis¢ussin8 with the en848tm¢nl team and where fraud mi8hi occur in the fiDoncial tst¢mert¢8 and ally potenliil indicawrs of fraud. ObuÉniA8 an UnderaditI8 of the levi r¢8yl•tory frhrnework that the ¢hArity op¢rnt# I focu8iti¥ on th0 la and re8ulatioM tb41 had A di11 effKt ott the £Daocial 8tAt¢ments. Theac areas were idmtified tlwou8h ¢r4uiriu with trustceB. mRuaBemettt our knowl¢dg¢ a¢MI ulldCnthYIllg of the charity accumulatyj throu8hout the aj1( atxl our ieGtor.owific experietjce. Audlt re•e1 to rtsk• Id¢ntlfle i rEiuIt of thue procedurn, we wnsidered the oppornmitiei iti¢¢Dtiw thil may exlat or8anloauon for fraud. In addition to the above. ourprocedurej 10 respthl to the ri4k• identified included the followryn8'. R•vieMlln$ th¢ financial staten( di8¢10sur ic8tin8 ond 8UPPOrting doeumentAtion to asselb con4J]ian¢¢ with relew¢ laws and regulatiolls id¢n¢ified aj haling a dirtet cffect on the fllwicial 5talem¢n¢s; P¢rforJnin8 anal1¢81 prcKeduTe6 10 ideniify illd unus] or unexpected r¢llltionships thit thay itsdic4 the risk of rnaterial Jnisstatement due lo fraud,. Reading minutc8 of try.qt¢¢ rn¢etinBo,' In bddre8sitt8 the riAk of fraud throu8trL tnsennt oveffid¢ of wntrols. leill8 the ¥propriatl¢ll of journ +trieS and other UdjtC1jts. We Also ¢onununi¢akd relcvant lawJ and resolations identifjed 28 potenti&l fraud risks lo all thc cngagcment i¢am rncmbers and remaijjed 81]L1 lo any indtLatiow of fraud or non40mpliknce with law$ Nnd rrgulalion5 throuBboul the lludit. Because of the inherent limil4tiosJs of an audiL there is a risk that w¢ Mryll not all irre8ularitic4 iticludiD8 tho leadirtg to a malvrial rni8slsiem¢nt iti the firtacial statements or non-¢ompliance with r¢¥ulAtion. Thi8 risk incTeascs the mnrc that cornplian¢¢ a law or regulaiion i5 rcrnoved from th¢ evenly aDd trathr[l1IS Tcliecled in the flnaj]aI $iatemcnts. we will bE le*8 likely to offiC aware of instances of non-¢ompliAtKe. The risk is also Krcatcr r¢8ardfft8 irregul]lIeS occtsrrin8 du¢ io fraud rNthcr thDn error, &8 frAud involves tnr¢nitonAI cowcalmcnt, for8¢ry. collusion, omission or misr¢prNen¢aiion. A furthtt desetiptioo of our TesponsibiiJtie5 lor the audit of the financial statemeots is loGated on the Fina11 Rwrting CounciS'8 w¢b$it¢ ai www.fr¢.org uklauditorsrespoJL8ibililies. This dcscription foTms part of our Report of the Indepcndenl Auditors. Pa8¢ 7
R¢pDrt•f th¢ Indtpekni Audlton ¢0 theTr4thu of The Blyrd Slldtnots Trwt Ule ofour r¢p•rt This report is made sokty th the •% a W. in with R¢Wjj•tfj 10 of the Cbaritieo Accou$ (ScOtld) Rep.0 2W6. Our I111 wc• b&9 mighi wte the ch1 extent permittcd by law. we ty)t w or re4wwJlJility other the cknity and Stytutory Auditor Riverside Hiw¢ L4dhorK Va GalAshi¢lB 7DI IBT 14th February 2025 Pgc 8
fw the Yer Ettdtd 31 M•r¢h 2•24 31.324 31.323 Tothl DctiOnS leBAeie4 1279 Ch•rltabl¢ •¢¢Md 70.4 70.407 75,968 Iov¢8th1ent iKome 108 810 Tot1 179 179 188.707 EXPENDIT O,Y Chirlt•bl¢ •¢tlvlde• Wa8es 193 Chtiritsbk 4¢tiviti 333 J73 193,262 Total 333 193 455 Net vin{10¢) inveth 122 724) INCOMFJIEXPEP4DITURE) {154.156) 46,821 (107,335) (127.472) RECONCILIATIO OF FUNDS Total furth brou8bt forwArd 320.362 3,894.931 4215293 4J42,765 TOTAL FUNDS CARRIED FORWARD 4.215 4 107 958 93 Page 9
31 M•r¢h 2024 31.3.24 31.3.23 Tots] T8rwble a io 457.&14 3.471537 457.6M 457.644 3 428 874 3.930.181 3,930.181 3,886518 Debtors 12 157.684 157.6H 39.452 4.344 2J07 J18 83 624 21 at b•Dk 234.081 11.571 245.652 360,680 CREDrroRS 13 (67.875) (67.875) (31.9051 NET CURRENT ASSETS 11.571 328,775 1662(KS 3.941,752 4.107.9 4215.293 NET ASSM 166,206 3941.752 14 166,2 3.941,752 320.362 3.894.931 TOTAL FUNDS 4.107.958 15,293 zoz The fillancial 6tstrtt)eots wete I0¥¢4 by th¢ Bo•rd of Tnwe¢s a1 for iswe 12th February 2ts1 and wcrc its behalf by. The notts forttt part of ttt $¢Atrments Page 10
The Haywrd SndeT•VW Tru Notrl to th¢FtDanetsi Ststememts for theyw Ended 31 Mw¢h 2024 ACCOiJNfLNG POLICIES Chlrfty IrnlIon The C¢)tttsuUi actisryty of The Haywud S•ndCT T[t is to fimding to the aid and the •deMent of health atsj other cluritsble all detsiled io the Trust Decd. all within ScotlaTh The is n8iJtefft4 wfftth the Olf of the Scottish Clh8rity Regulator afyj its tewitttd number 18 SC043290. The TnL4ts Te8iSter&1 •ddre&s 1$ 36 Bank Stree( Ga]&qhieLs. TDI IE Golllg Conetrn The dirttt0f5 havc a&Se&d a puiod of 12 Dx)oths from the date of tFyowal of the 6ts1ellntS ar coti$1¢[ that tK) matctial wenainties exist that SA8Dific8Dt doubt about the ability ord TTwt to continue a Roing Co¢. Thur is intrDliott to carry out sI1ficII ttpairs to the prcyertie• OWTd by tbe Trthst basis of acc(Alltting in PTcparin8 the finattiaj wteD)eJ)ts. CrldcAI •¢COUDttni jgernts ind kry of ethtlon unetrtxlnty In &£ appl10 of thp TnLse3 3ccouniiD8polici¢4 the Trusrees are required to mAkeiud8¢llKDty and It the C]ll amounl of lets atyj liabilities that are Dol rr4dily appaT¢nt from other Jource4. p¢rio4 or in the peri(d ol the revi5iou t] fuh]re )0d$ wF¢re tt¢ mrysioo thffects both current and A¢¢outsth¥ ¢onveThdon The Trust meets the definition of 8 pubjic benefit entity under FRS102 and th¢ financial statemcntJ be¢n pr¢par&J in ¥crd& the CbAritie8 SORP (FRS 102)'Acwuoun8 ard Rwung by Cbariti&4'. Statcm¢at of SrthNlard applicable in the UK and Ryblic of Ireland (FRS 102) le¢Ve l Jury 2019),, Finala1 Reportin¥ Standard 102 Tr Finala1 Reportiag Stth wli¢able iti the UK aDd Reb]IC of Irelar¥f the Cbarities d InveJ¢m¢at (Scothd) Aci 2W5. and lithbibtiej are initially rec08Dis 8t hi8toricaJ cost traLwtion value uol¢ss othiSt thted in thc releTr•nt accountin8 p)licy. Tr preparatioa of fmÈnci•l $ts1eo)ts the use of certain critical xcountin8 eslimaies. li also requires InL8tees te exercise their judgement in the Process of appl5$ & accr118 whcies. Us¢ of avdilabl¢ infonDation aEhJ application of judgernent are iDIrent in tbe fi)rtll•TiOD of estimaw. Acts1 outcome8 in the filtse ¢ouJd ditTer frorn such &stimates. The finan¢i81 sthtcments are [rtepd ID Sterhng, which is the futsciion ¢urrew of the Tn¥t. Monetary Incornc 15 rccogllised whetk the TnLSi is legally entitlcd to il aller any COTwJition5 have been met. thc amounts can be me&sLwed liabl., 8fy1 1¢ ss probable that will be receive Cash donatior6 arc recognised on receipt. Other donatiow are reco$¢4 the Trtt bas tten Dotificd of the donation. unlc&s rrf0llance conditions rwrire deferral of the a00¢. The Tn an invest1tt p)nfolio, thai is m8n88al by RathboDts. tnVeStslle irKome is accounted for in thc pcriod in wbich the trust is ¢ntitled to rettipi. In¢ome is thc gross vdu¢ of dividends and interest rtceived after r181 arty tax creth.ts that art a112b1¢. Resourfe5 expended Liabilities are reco1$ as resouwe8 eXded as soon as tbere as & legal or ¢AXtructive obligation committitig the ebarity to the expettdifttye. All expeodiNr¢ is acco)led for on an ¢nlS b&sis. frrecoverable VAT is ¢bar8ed a8aiLL%t th¢ ¢a*g(>ry of rcstsurGe5 eApend¢d foi wbirh it 15 iUr1e Pagell continued...
The Ha4rd SA#deY•)D Trut No¢e• to tht sts1¢ryty. coAdDutd for the Yew Endod 31 Mr¢h 1024 expeoded Govern1< COM costs iDvolw the publie I¢¢(Xjkn.ty of the Tn ilj compliarKe with T¢V]otion Eood prxtic¢. Thcle costs relate to thyjii a¢couotitig ftes. Th¢re 15 no Grnnts payable Pllts to third pJnie4 iti the fithe of th Cl11•b obi¢ctivM of the TnL The 8rnDts tre t¢Vated for whcrc cither trusw aj ply the w withovi wDJillon the re¢ipient ]w a reuoDknle expe¢lalion that tly will rtttive • 8ran4 CY Y coulition io the 8r•nt li Outside the Control of th¢ TnLqL T•nRlble IlI a•¢d• TawThl¢ ajsets arE ittitially ¢014 Ave thted •1 wit le• any <mU1atcd dcprcciation at>a impairnt losw. The BAin or loll Mrixiti8 on the disposal of •n atset is detr1d u thtr diffemv betWttD ule pro¢d8 the earrying yu¢ of the is recOld ID tkn tement0f financial a¢tivitiu. Prcwry held pDmily for the ryovi#ion Of beoefits, e8 jo¢1 Wd by • bIle benefit eD¢ity. 11 not be ¢iwifi¢d as invutsYtsI prroeny xball be xcounwa for u propeny, piwt equipmeDI ' With 10 17 of FRSIO2. lllvmtments T•utlon The cbAriry li tIp1 frorn tsx on its clwritsble titI¢l. FuDd •¢coun¢l Ullrestricted funds be in a¢¢ordw with the ¢lwithblt obJ(tive• at the dixrnlion of the trul. R¢stri¢t¢d oll]y b¢ uled for p&rti¢ular rtltyirtd purposej withitt thc objtas of the chArity. R¢Krictio 4r1 vAtt spttified by the donor or fund$ jre rJiwl for parti'cu]ar rtStri¢ted purpthes. FJth•hrynellt fuDth •r¢ AthjeLt ¥IfiC CODditiollJ by dooorn that th¢ ¢apitsl muJ¢ be ThBintAW by thc'fntsL Furthcr expl1100 of th¢ natwe purpcrfe ofe•cb fiuKI is iD¢IL¥tsJ in the llo the $tsteDws. Attd lknbliltles Basic flnancial asscts, ildIng tyad¢ and other debtors and bank bthe ere initially ft£wus¢d gt tran¢tion pri¢¢. At th¢ end o( ea¢h r¢portin8 period fitwKial asseLS measued at cost art a58esKd for evidence of kmpawment. Any Impairuttl loss 1$ recogniscd in th¢ Sthi¢rALi of Financial AeiivTties. FitiuKithl asoel8 are deTe£OlSea wb¢o thc cOntracttE rights casb flo* frojn the at expire or arc Settled. B&8ic finCIal liabiliiies. iluding trade and othcr ¢redito. arc tnitiilly rccognised at tsathaction prtce. Trade reditor¥ bre obligations to pay for goodq QT xrrices that hav¢ beetl acquwcd in the ordimry course of business from 5uppliern. These are classed as Current Jiabditics if ptyym¢Dt is due withhn one ye4r or less. If not they arc prescntcd as non-CUTrent liabilitits. Finan¢ial liabilitte5 are dCreco1Sed when th¢ liobtlity is cKtin¥uished. thai is when the ¢ontr8¢tkJal obli8ation is di5¢bargeit callcell or cxpires. Page 12 contiuued...
P40ts4 t• the FlnAnd41 Statullents- <onttn¥ed lor ttse Yur Ended 31 MCh 2024 ACCOiJNllNG POLICILS. e•llthiueO Provlth ProTr13io rttoRnil vknen effiity trt8S Art obliptioti It the WtinK dttte u a Su]I of i past evetttr. it ' probable thw the errtity will be required economic ben¢fits in settlement Ind the of th? obli8Jtion can be estim reliably. Provi51(m u¢ Twtti%d as a liabitsty ID the of fillwial pmitio 8Th4 amoutti of the proiryiioD U wi ¢xpen8e. Prowiom are initially nY8sur•J at the best of the •MOu requireA to Knle the obligailon it tho rtiD8 date alkl Aubwuettdy remewcd li eb reportill8 da aDd jUsted w rel]eKi the Current but estimate of the 4nk)WJt th&1 would be required to 8¢ryk the obliptioL Any •djusth)thts thc anx)witA Previously reco8Di arc recosni8ed in profit or the proTriSTOtt OriginlY re1 as pirt of tr ¢o$t of ID amei. Ivhcn a prowion is li the PItse value of tl% a[ll1 exrrtt¢d io be re44uired to ttle tr¢ obl184tio the utswirwjing of & discou is fKQ8Di%d in fir•w¢ ID profil or los8 iu the p¢rird li IX)iYATIONS A LEGACIES Jl.3.24 31.3.23 DoMItODS 8ifts INVESTMENT IliCOME 31.324 31.3.23 499 92,734 13,569 1.193 101,441 8.061 765 Dividefyts. UK E4uitie4 Intere. UK Fixed Int¢TeA Se¢wlti InRzMT rff¢iv•ble CIIARITABLE A1vIT]F5 COSTS fimditig of Support ¥Dviiies {¢ ¢01ts (ge¢ no 61 tt0* 7) Costs (xe note 5) Totals Cknitsble activI 357 686 DIREcf COSTS OF CHARABLE ATrIEs 31.3.24 31.3.23 Prfft ¢xe5 Pa8e 13 continued...
The Hiywrd Sndenon TnNI
Note• th tht FID1nd Statem¢Dts. ¢ootlTrwd
for the Yer Ended 31 2024
0j fiffiherance of their prci.
3.[ Ab&)tsford Bowling Ch
2.(KKJ Border Mlitional Need%
l.(kn) Bri8k
1.668 Britiqh Wireless for the bltnd filljd
7CQ Burgh Porent Te4chtr Cootsil
2,(KKI Casb forkndq
3275 xiew¢ foundation
IJCrf) Hospithl
750 Gala CTicket Club
1.750 Gala Fai Rove¥s FC Conunwiity TIL
2gkKI Gats S*inDyw Club
I,lJ)O Gttiashiels & Ar¢a F
7W) G%1t18 Ac&lemy
2J92 Rugby Club
3.(IXI Galashi¢LqTowtt B
70) Galedio Vets
Girl Gtsi
Notu to the Fln•ncknl St•ttsxDts. eonthiued f•r the Year Ended 31 mch 21124 SUPPORT COSTS C1witable A¢tivitie8 31.3.24 Chuithble 31.3.23 Tota] acti11¢8 66.945 6,31XI 61230 5.8(X) 221 Auditor8. remunerdti( Accountan¢y Fees 67 31 March 2023. TruteM' expeD There nts tru3ws' exFaJXO Nid forthe year 31 Mar¢h 2024 J)Dr for the yur eJMled 31 Mh 2023. P8ge 15 continued...
Notej to tbe FITh•1•1 S¢twDents- e•Ddnued for the Yar Ed 31 Marcb 21124 )J79 1279 CbrltAblt cdvldu 75.969 75.969 111459 Tot•1 188.707 188.707 KXPENDI'fURE ON Ch•rltsble •rtlvlde• Wag 193 193 Cbjritsble tivitIe1 193262 193 262 Totsl 193 4JJ Net Pl{10&1¢1) on inveth 122 724) 122 724 INCOMEI(EXPENDmJRE) (4.748) (122.724) (127N72) CONCILIATION OF FUNDS 325,110 4,017,65J 4.342.765 TOTAL FUNDS CARRIKD FORWARD 320 362 4,215 3894931 93 Pa8e 16 coniinued...
Tbe BAywanl SaDdenoD Trwt Notm to the Flllnthi Stsiemeuts. ¢ondmued rw th¢ Yw ETNled 31 M•r¢h 21)24 io. IATrI and buildings co At l Apnl 2023 ar1 31 2024 NET BOOK VALUE At 31 March 2024 Ai 31 Much 2023 Liqtcd Tothts MARKET VALUE Al l Aprtl 2023 Additions 3J96.904 392.627 (375.6741 31.970 155 J76 3.428,874 548203 (575.674> Vtion cbAD8¢8 31 Mtr¢h 2024 3 472 337 NET BOOK VALUE At 31 Mweb 2024 187 546 37 904 31970 At 31 Mar¢h 2023 3J 3 428 874 12. DEBTORS: AMOuT5 FALLING DUE wmiiN ONE YEAR 31.324 31.323 13. CREDITORS: AMOUNTS FALLING DUE rn ONE YKAR 31.3.24 31.3.23 Othcr crcditorj Page 17 ¢oniinu¢d...
to the FIH#D¢l#l Ststern¢Dts- ¢llRdDlle41 for the Yur 31 2024 14. Net ovem¢Dt At 31.324 At 1.4.2J Uttmtrlrted fpDdA 3JlJ62 (154.1561 166.206 Endowm¢nt fundi 3.894.931 46.821 3.941.752 TOTAL FUNDS 4215293 107J3 4.107.958 Net m0veut ID fityyjs jwhd ID the alK*ve 8r¢ &8 follovrn.. UDrertTf¢ted funds 179317 (333J73) (154,156) EDdowmtnt fuods Elldowrynent Fund (24J131 71.134 46121 TOTAL FUNDS 179 107 335 ComparAtlYeJ for movemeDI In fund• Net At 1.4.22 in funds 31.3.23 UnMtrl¢ted fyndi 325,110 (4.748) 320.362 Ejmlowtnent fundi 4,017.655 1122,724) 3,894.931 TOTAL FUNDS 127.472) 4215 4,342.765 kn 95 Page 18 Coniinued...
¢0 the F5llAtt Ststements. eonthiued for the Ytar Euded 31 M•T¢h 2124 14. urtrIeted luDd• 188.707 (193.455) (4,748) EndoFrnient fllDds FJthwment FutKI {112.724) (122,724) TOTAL FUNDS 188,707 193.455 122 724 127 4721 A current year 12 DnthS ard prior year 12 combiKdpMitiOD is as followg: movernent At 31.3ll4 At 1.422 UDrestrltted fund• 325.110 {158904) 166206 Endowmtn¢ fund• EtsJoMDent Fund 4.01?.655 (75y)3) 3.941,752 4.342.765 234,807) 4,107,9J8 A cuffent ycar 12 months atMI priorye4T 12 mopths wmbined n¢1 nKbVemt iti fittth. irKhthd in th¢ Ob0 8re &8 follows.. Rc50urccs Gaitis a]yJ Movcllnt losse$ Unrejtrlcted funds 367924 (526128> (158904) Endoivment fuDdJ Endov/melli Fur {24,313} (51590) (75.903) TOTAL FUNDS 367,924 551141) 51590) 234 8071 Unrestrlcted fwids Thc unrestricted of the cljarity comprise the Wpended balatt¢s of donatioLs and grBnts whicll are Jjot subject to sIfiC conditiotts by dorK)rs w)d wnioTs as io bow they tnay be used. These include desigllaied fvllds which hRve Fen set 88idc out of UDTestri¢ted fil15 by the trtr£S forswific puox)scs. Pa8e 19 continued...
Tht HAyw•rd SAlldfrnD Tru¥t Notrl tty th¢ FID•lltlAI St#io4tsexts- CODthiued for theYt*r Ended 31 Marrh 2014 14. MOVEMEKf Th FUhTh. conthilled olwbich to ttr¢ Trl Payments to gervivs to the 1¢ o £16. Pa8e 20