Scottish Charily Number.. SC043291 Companies House reference.. CS000891 Galston Community Development Trust (a Scottish Charitable Incorporated Organisation) Report and Financial Statements for the year ended 31 July 2024
Galslon Community Developmeni Trnst (SCIO) Contcnls of thc Financial Siaiements for the ycar cndcd 31 July 2024 Pagc Trustees, Annual Rcport Statcmcnt of Tru5tees' Respon5ibilit&es Independent Examiner s Report Statement of Financial Activities Balance Shccl Notcs io ihc Financial Siaicmcnts 8-12
Galston Community Development Trust {SCIO) P#ge l. Trustees, Annual Report for the year ended 31 July 2024 The tTUSt¢es prc5ent Ihe¥T annual repon and financial staiements olthe ¢harity for the year ended 3 IM July 2024. The financial statements haTr'e been piepared in ac¢oTdance Mith ihe ac¢ountiTtg lIcIeS set out sn the notes to the accounis and omply iviih the charitv-s consriiiition. the Chariiies and Trustee Investment Iscoilandl Act 2005. the Chariii¢s Ac¢oun15 IS¢otlandi Regulailons 2(KI6 las amended) and Atcouniing and Rep)rting by Chariiies". Statement ot. Recommended PTa¢tice applicable to chatslie5 preparing their accounts Jn acttsrdance 'ith the Finao¢io1 Reportillg Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecli&'e l January 20191. OBJECTIVES AND ACTIVITIES Obje¢ti%'es The prirtcipal objectii'es of ¢he Trnsi are io improi'e and develop community f2¢iliiies. Alms To ensure that the communiiy benefits from unproved and faciliiies for leisure kt)d rttmtiort. Objectii'cs for the period To adi'an¢e rural Tegenerali and Community d¢veiopnYni and. in panicular. PTomote Ihe holistic regeneration of Galsion and Its surroundings so thai it cat) be a susiain2ble. inclwsii'e commthjily for all ii,ho live or '0[k in the area. To promote the Conservation. pioie¢tion. and improi'emeni of the physical and natUTal enviroThment. To provide recreational facilities and organise recreational aciii'iiies and M'irh a particular focu.% on en¢ournging ¢he use of open spaces for re¢rtstional purposes io improi'e the ¢onimuJiil) S qU21iiy of life.. To adiance arts. heritage. clllwre. science. and education. itlcluding lifelong learning. Straregles The organisation .111= encoura8e and PTOTllOte cotnmunily involverjienl in and direclion of Ga151on ToiiTr Centre Regeneraiion ineludit)g Ihe nership and'or leasing of buildings, offites or any other community assets and the ust of th¢5e assets to geneiale income and Ihe m)ximisaiion offunding OprtUnitieS work an partnership ivith public. prii'aie. and i'oluntary agencies in the furtherance of these aims and. in particular, work in panner8hip 'Ith Easi Ayr%hire Council and ILS communiiy planning partners io idertiify rcgeneraiion PToje¢ts H'ithin Ga15ton TO. Centre. ACHIEVEMEYTS AND PERFORMANCE The board of TCeS meet on ihe fiTSi Montsv of each nw)nth. -Galson N'eMs" is our quarterlj. magazille w'hich L5 Used to comtnunicaie I.]1h members and th¢ general public. We OTgani5ed ihe arsnual Gala Day in July ?024. The 'tl helped nise u'ider public irhteres¢ and rdi5ed funds for the activities of the Trust. We aTe renting empty shop premises in the iown centre and comm¢n¢ed operating a drity shop in Noi'ember 2021. After a¢outring Ihe derelici Portlond Amis in July 2015, The Portland Wds ofTi¢ially opened in March 2018 after 10 month5 of Construction 'tyrk a[ receivÈng gran15 from Big Loiiery. Ayr5hETe Leader, the Rellewable Erjergy Fund and CARS. The Portlatld has a Communiiy room. an office for the Tn1 and otTice space that is rentrd to file local businesses.
Galston Community Development Trust (SCIO) Page 2. Trustees, Annual Report (continued) for the year ended 31 July 2024 FIYANCIAL REVIEW The Financial Siaiements have been prepared in a¢¢(*dan¢e 7th ¢UTtent statOry requirements. The Staternenl of Financial Acti.111¢S indicates nel expendilure for Ihe year of £55.121 12023.. £60.0(K>l and total fvnds of £834.46112023.. £889,582) at 31 July 2024, of Mthich £83•.458 120?3.. £888.0841 relates to Restrted Fund5. INVESTMENT POLICY AND PERFORMANCE The trustees. having Tegard to the liquidity requiremen15 of ntThnin8 the charity. hai'e kept availabl¢ funds in a CUTrent account. RISK MANAGEMENT The Tru51ees have assessed the major risks. financial and non-financial, to which the charity is exp)s¢d and are satisfied thai systems are in place to mitl8ate any exposure to the major risks as a resuli of this rn-iJi'. RESERVES POLICY & GOING CONCEILY Alihou8h il is the policy of the charity to mainlain UnreMricied funds li.e. fijnds not designaied. committed. or invested in fixed asselsl al a sutyicienl lei'el to co%'er adminisiraiil'e cos. Ihe eharily'5 core &lii'ilies are mainly fjnaiiced by Reslrieied Funds. Accordingly. the ¢hariiy's L'nr¢siri¢ied re5ern.es largely rep¥esent funds arising from donations. (inresiricted ndS per ihe General Fund ai 31 July ?0?4 ii'eTe £).3¢10?3 fund5 held £1,498). Trubiees haie ¢onsidere(I proJe¢iion5 and are confident ai¥)ut the pr05pecls of the charity for ai leam Ihe nexi 12 months. Project expenditure can be adjusied according io the a¥'ailable fiding. Therefore. the Iwsiees consider ihat the charity 15 a going eoncem. PLANS FOR FUTURE PERIODS We ¢oniinue to a su¢¢e5sful ifter-school club and holiday club. We p12n 10 continue running tbe chaTity SIp. The Trustees are CUFrenily exploring the potential for obtaining premises io focus on re¢y¢lit)g. upryrlins and the 5haTed economy. The Trust hai'e adopted a community garden with Trusttts bein8 allocated a month each year to tY and maintain the 8&rden.
GAlston Communitv Dth'¢lopment Trusl (SCIO) Page 3. Trustees, Annual Report (continued) for the year ended 31 July 2024 STRUCTURE, GOVEILNAYCE AYD MANAGE.%IEYT Governing Document The Trusi is a Scottish (Tharitable Incowporat¢d Organisati(¥) SCIO and the PUTrM)se$ 3JMI admJDisttalion arr4ngemen15 are set oui in our consiitulion. Appolntmenf of Trnstees The SCIO is goi'erned by a Board of independent Nolullleer T. All of the Tru51ees are tnetnbet5 of the Trusi and ar¢ appointtd or reappoinicd by Ihe members of ihe Trnst at our annual general mcelin8. The Trusi¢Ys serning durmg the year $lle the year end are daailed below. Trn$tees' indlletion traiDing An indueiion and iraining policy 15 ¢Utrenily being estsblished. Or%Anlsatlon&l strctUre The Trnsiees of the charity are reS)nSible for poliey decisions and enyJrin8 ihai ihe or8anisation operates within its consi1lIn. RegulaT m¢eting5 are held to effect policy drti$ions and the Trn#¢es have a fiduciary yes51111ty oi'er its assets and finances. LEGAL AND ADVIINISTRATIVE IYFOR.MATIO CIIARITY NAME.. Galsion Communiry Dei'elopmeni Tru ISCIOI la Scottish Charitsble IncotTK)ia¢ed Organi5ati(whl CHARITY REGISTRATION N'L'MBER: SC043191 There are 370 ordinary nMbe1$ of the organisaiion. INDEPENDENT EXAMINER.. JRDLLP I I Portland Rod Kilmarnock KAI 2BT
Ga]stOD Community DevelopmeDt Thtst (SCJO) Page 4. STATEMENT OF TRUSTEFS, RESPONSIBJLTrIKs for the year ended 31 July 21)24 The charity trustees wsible for rying a annu rep)n and fin2De1 st¥Eements in 8ccordanL with applicable law 2nd Unityl Kingdom Accoutttitig StatKl8rds (United K Cnerally Ac£eptrd Accting Prauicel. The Ixw applicable chariues in ScoLlaDd requires the Chlty trwes prepare finzncAal Sraternts exb year whid) give a tsue 8nd fair view of the stttt of affai[5 of the chatity alld of th¢ income and ap&4icatioll of res¢j]r$ of the clwity foE tbat In preparing the rinanciaE statem¢nts, the $t¢eS are required to: . select SItable xcounting policies athj tFtt alY consistyjuy. - ob$erve the methods priTlpleS in the Charilies SORP. . mak¢ jud8eTTMts aTKI e#imares that aJeTea8onable aNI . state whether aA)li¢able c(KLMing swulards have Len followe41 subF£E to any matttial thparwre5 digkned and explained ift the financial $iatemenis' - prepaxe the finartcial aternets ott thc goitig concern basis unlets it i% inaE4XOm wme the chsrity will continue in operati¢)n. The Trustees a Testx)nsible for keeping propu accounEi4g T($ whith disdose with ttasoffiable accuraey at any urn¢ the financikl ptss1t1 of the charity and to enable to engJrE thai t? financial statements COFr4)ty with the Chariiies and Truste¢ InVment (Sc]and) Aci 2LK15. the Chariiies Accou1 (S(orland) Regu]aiions 2(M)6 and the pvvi%ions of the charity'x m5titution. They are also re5wmsibte for saftgvarding tlt t5ts of clwiry attd Ixnce fow reasonable sieps th¢ preveniion and de101) of fraud atKi othet wregulariiies. The Trnste¢$ ffspoo&ible for the rnaant¢naTtt and inwity of the rhtiFity arvj finFllK2al inform&tion irhclud¢d on th¢ Chitabl0 company's website. I£gi51ution in the United Kingd(¥n governing the wep9tion and dissemination of finbelO15141CrncnrS may differ frorn legislion in other juriyJi(tio Thi5 ¥eport approved by the Tw5r¢¢s (M13 March 2025 SIgd oo theiT i%half by
Galston Community Developmeni Trust (SCIO)
Page 5.
IriDEPENDENT EXAMIINER'S REPORT TO THE TRUSTEES OF GALSTOh' COMMUNITY
DEVELOPMEINT TRiiST SCIO
for the year ended 31 July 2024
I report the accounts of Ihe charity for the year ended 31 July 2024 ,hICh are ser oui on pages 6 to 12.
Respectlve responslbllities Df trustees and examiner
The charity's trustees are responsible for ihe preparaiion of the accounts in accordan¢¢ wilh the rerms of the Chariiies and
Tnjstees InVest¢t IScoilatLdl Act 2005 and Ihe Chariiies Accounts Ikoilandi Regulations 2006. The charity Irusiees ¢onsidei
rhai th¢ audii rcquirement of Regulation 101 I I Idi of the Accounts Regulations does not apply. It is my responsibility lo exaininc
the accounts as rcquiicd undcT seciion 4411 I Icl of the and io stale i%thcthcr particular mattcrs hai'e ¢omc to my aitcniion.
B85is of lThdtpendent exmiller's sttement
My cxamination is carried oui in ac¢ordan¢e '1th Regulation I l of the Charities Accounts IScoi12ndl Regulations 2006. An
cxamination incliides a rcview. ol" the ac¢ouniing re¢or
GabtDTr C'ommumilv Dtv¢lipe#¢ TrnstlS('IO Pale St4knent of Financ1¢114.1I• forthe )Thre•din%31 J¥Jy 2•14 201) I"BrtstFiried Restrirfed T411 lTr(orne Endowrd indlegac Iharlb1ea¢tl1leS Ra151nE f5 Othr 1240 56.543 4J66 1.241> 20259 48.469 4.348 Jl.712 8.658 Toil 62.149 24.033 W).187 77 839 Kaisinb fuwjs haritJbkeiilTrlits T•til ¢xpendilllft 4.035 75.0!9 4_015 4.?%(J 68.M6 fiiJi 137.839 ¥¢t In¢/¢¢AdlIft I47.4) I60.) Tiun51crs LYM'ocn 1%5.b26} iii 031) 112.mi 4?.11 I60) Funo bthnc¢s bwubht fo[7rd 1498 881084 688 949 58? Fund bil•¢e¢¥vrioI 834.544 1.4Q8 $81.D84
CilstOD C'ommunity Deveknpmttst Trn$t ISCIOI Page 7. Sheet $ #l JI Juli. 211Z4 LT•re5tricted Rtstrltted Fullds Fulld$ 2024 20Z4 Tot•l Funds 21124 bnrestritted Restiicttd F¥ttd$ Funds 2023 202J TotAI Fund$ 2023 Fixed 455¢15 Tangibl¢ A55ets Total Fi%ed A55ets 10 791.(K14 791.(x)4 791.1 18 791,118 1.482 831.-181 833.381 834.863 834.863 Cuffent 45yets Cash at bank and in hatml AccoUtS Receivable Total Current Assets 3.210 2.535 5.745 41.454 44.664 2.$35 47.199 3.100 500 41.454 54.703 58,303 Creditor$= Amwnts falling due Ithin one >'ear 11.7711 {3,7731 13.5841 {3.$84) 1.972 41.454 43.426 16 54,703 CrtdiioTS.. Amounts falling duc after one year Net assets 2.086 83?.458 4.544 1,498 888.t184 889,582 Ilnrejtrieted Funds General FuThds Restricted Funds 13 14 2.086 832.458 1.498 888.084 Total Funds 8.14.544 889.58? The rteS ai pages 8 to 12 fomi part of these c(xiThts. 2 M4(LLii 2tyL< App[ov b) the TnL5ttts on .......................................... and signed on theÉr behalf by:
Gllston Comrnunity Devtlopment Trust ISCIOI Page 8. Yotes to the Fin4nrial Statements for the >ear ending 31 Julv 2024 ACCOI'NTING POLICILS 1.1 Accountlll8 ronvenlion "IIIL accoun1% Ilinancial aILMentS) hair b¢¢v prepared under the hi%loTical co4 coni"eniioD iiilh iienis TLY(ydni4ed ai c051 or tran([1 ialuc uDIe5 oiheni.ise 5taied in ihe rL'IL"anl noie151 to Ise accounts. The tinantial Sittl¢rnents hai'e been ppared in aeLordanie iiiih the Staienieni of Retonimended Praciiie". Atcouniing and ReIlIng ih Lhaiilies prepaTlnE ihcir accoutths ith accoidathci iiith ihi Fin#ncial Rirx)rtin¥ Siandard appliLable in the LIK aL)d Ripiiblit ol Ireland IFRS 1021 IctriLllI'e l JaNuarn. ?0151 and ihc Financial Riwrting Siandard applic&blL in lh¢ Uniied kingdom and Republic of IielaThd IFRS 10?}. ihe CThariii¢5 and Tru¢¢ Illleni¢nT Iscoilandl Aci 2005 and ihe Chariii¢s ilccwnis {scland} Regulati 2(6 las am¢ndedl. The chariti. conyilutes a public beTh¢fil ¢niil!' as d¢fJn¢d bi" FR510? Th¢ principal accoiinling plICiEs adopicd irt ihc pieparaiton Of ihi financial ateMents are sti thLI bcloM". 1.2 Loing Conccr il aciount5 hal'c bwn weparcd a going concern b&%is. The TTU5tcts h31"e a%scsscd thc C'haTiI! s abilih. lo conlinuL as a goit)g tontcm and h&%'e rea%)nablL eALIation thai Ihc Charii! has adequate rL'S0rCcS to Cll111Uc in opcraiii)nal exienc¢ for ilk. lorLseeabli There are lunds cvrrenil!. ai'ailable 10 mtii all liabiliiics ii'li¢n ilie) bLcomL' diiL and if thire are ani thaThgE in >51110 ihL T5 Ii'i1S make ihe niCissar% adjusimLMlS to SL'f¥icL proi'ision and 518tring. Thus Ihei ci)niinu¢ 10 a&)Pl the goino Cc¢M basis of arcouniing in preparing ihese aeeounis. In arrii.hllg Ji ihis assesenT. th¢ TrUets hJi'i iak¢n inio conslderniion the IMlL1 01'COVID-19. Voliinlar% inconic Inc1J1Ag dallonS. gifts and l¢gaci¢& and grat)1s Ihal PToiid¢ cor< funding or aTC of gcncral iialurc arc Ncognised ii'h¢re lh¢ is eNiiilemeni. cenaini!. ol rtLYiy and Ihe amount can be rtieasiired iviih sul'fici¢ni Teliabiliii Such iniomi is (wli. def¢¥T ii'hen Ihe dLwof SFtcifKs Ihal Ihe an1 OT donaiion Inu onl). bt used IJ fuiurL accouniing riOds. OT ihe th)nor itThpos¢d ¢[di11( h]ch mu mei IK"IDre the tliariii. has unconditional tnliilcmLnl. ljiium¢ frujn LhariiablL aLlii-ÈLies inLludine ijicome reLLL%-ed utsler ¢(xiiraLI or lihere eiiiiilenielli lu grani fuiidiiiE is siibjLLI 10 sPiLifiL perlorniaiict Is ritognised as ¢arJi¢d as ihe r¢lai¢d g(Nxls LY Stri'jcLS aF¢ piolsded. Graiii inco11 ik tliis caiegm. proii(ks (unding suPrt r1manCe aciii'iii¢s and Ès recognised ii'hert ihere is Liilsil¢m¢nl. c¢naini)' of elp1 and th¢ amounl Lan be n)easur¢d iiiih suifiiienl reliabilii!.. 1.4 Expenditure F.XPLndiiiirc is rccognibd on atl accnials hasis i%"hen h lsahilili 15 JncurrL'd. F.XPLndiiure include5 V Al. ii'liich cinnoi . lijlli" rteo1.td. and Is reoorttd as part of lh¢ LDendIlure 10 ii"hÈch it fLlaiE%. Chariiabl¢ ¢¥penditur¢ coniprises ihose Costs incurred bi ihe chariii in the dtlii'¢Th ofiis acii%'iiies and ser%'ices for $15 b¢n¢f)iiari¢s. li iAclud¥'$ costs Iliai L7n b¢ allal¢d dir¢ali 10 wch aciii"iii¢s and iliose cUS ofaii indir¢ci iiature neces. io supporl them. l.S T¥ngible fixed tstts attd depretiaiioll Fixed a55Lls lexcludine In¥cEnnIs) are stsied ai cost Jess accuThulaied dcpTecialI. The costs of miiior addiiioi are iiot capilali5cd. Dtpriciaiion is proi'ided li raiLS ealculatid 10 off the CO less residual I'alt of each asiei oi'er its expeci¢d useful life. as follwi Propert!" Muga Cage raight line 12.5°• siraighi line 33.33IJ • straight lirte 1.6 Taxation rhe ChaTilI 1$ noi regimered (or VAT and accordingli" rtd]1Ure irtclydes ittecoi"mbl¢ input VAT ii'h¢r¢ appropnaii. The organisaiion is recoEnised as a charÈii bi H.11 R¢ienue and CustonLS. Accordingli. N) proiiston is mad¢ thxation liabiliii¢s.
Cillsion ComMu1t). Dv'tlopTheDI Trusi Is(-10) Pa8¢ 9. for Iht Year JI Jul). 2024 l-Thrc51rirled Rc51rirrtd FwNd5 Tolal 21k24 l Artsiricttd Resrritltd Fulld5 Fund5 Total 202J D[allonS and oth¢r thiome 1.240 1.240 1_240 Ch#rilAble.4rtiijfjes Pro)LCts- restiicicd gratti Rcntal Inc¢&11 hifc Magazine adiertising ChariN Shop Inco¥ne After schLV)I club mcome ()Ihtr inLDtI¢ 15.1)70 15.070 14.666 80 12.936 17.199 3.%88 48.469 14.666 80 12.936 19.93? 8.360 56.543 19_932 28.619 76.802 20.712 20.712 4.311U 51.982 Raising Funds (Tala Cjiani and dh¢t fundraL%the (7als jolle. Oiher inLYle 3_779 4.(H8 4.3 10 4.N8 4.348 4.348 4.i66 3.779 8.145 4.i48 4.310 8.658 l Nrtstrirttd Resirirlrd F¥llds FuAd5 I nrt51riclcd Re5trirted I'ot41 2023 2024 ('osi orge1rI1]ug fund5 Tats da) iO$ts 4.U3£ 4.035 4.280 4.280 ('osls of ehirÈlblt ¢lii'itits Rcsiriiied pmJeLts exyendilurt dvertlSTnwPr(mbolioft Adininistralion 5alaTie5 .¥)Minatts. Insurartie and wbscrwHTh 8n7 30.U5 62? Y82 6.910 )67 2.235 19.675 %.398 3.fy12 50_D20 &LIo 987 6.916 2_967 32.392 506 1_1.687 4.848 46.079 5.414 625 2.473 ?66 4.014 83 1.9116 ?5 01CC I'l. softu.are and consllm&bks l.Ight. Pott. healing P051uDe. 51aiivTKTr ¥Thd photocopiing Rcjiairs IMdinicnafflL 2_473 4.360 4.014 983 4.753 4.752 l¢kphonc Wii i¢[ res After schrrt)l ilub i esents Charli% sknp ewns¢s OlhEr Depreciton 5.152 993 W3 5.972 5.972 79 1.368 42.377 75.L?9 43.745 137.190 1.368 65_213 68.346 133.559 I'mrtsirirttd Resirirttd 2024 I'nrtttritted Rosiritiod 2023 Ntl is s&ted afkF chw8inE" Depreilaln and amoll oir iangLhle &sse 1.368 42.377 43.745 1.368 49.111 600 51.17¥ 600 exarnination f
GAlston Community Development Trnst (SCIO} P4ge 10, Noies to the Fin#n¢i#l St#itmenls (totstithuedl for the yeAr ending JI July 2014 Si4ff ¢o$t$ #nd numbers 2024 2023 Employment costs Vages &. $31aries Pension Costs 49.440 579 50.019 45.621 459 46,080 Nurnber ofemplo)'ees The ai'erage monihlv number of ernplo)'ee& calculated on a head count basis. during the year 2024 2023 Trustees No ITUSt¢¢ nor any pmn *'ith them rereiv¢d r¢mun¢rntion or re1Mbr5¢Mellt5 for expenses in tlie Tiod. No aniouth¢S were donaied to the ¢haTiiV bv inLSie¢s. 10 Tangibl¢ Fixed A¢¢$ Proptrh. Sports Cage Equipment Totgl Cost At l Augu512023 Additiorjs At 31 Jul>. 2024 Depr¢tiation At l Augusl 20?3 Charge for the )'ear Ar 31 Jvlj 2024 Yet Book Values At 31 July 2024 At 31 Julj 20?3 1.096.375 68.990 8.698 1,174.061 1.096.j75 68,9 8.698 1.174.063 62.994 68,990 7.216 1.368 8.584 339 ?00 43.745 i82.945 305.371 68.990 791.004 8 j.i.j81 791.118 834.863
Galston Communin. Dt%tltsp#b¢nt Trt {s(-io) Pgt 11. olts lo Ihe FlThaDrl Stalemtnts ror tht ending JI J¥l1' 2024 CrcditDf5- ¥UbQ4nts falling du¢ Mitbi¢ ODt I'tgr 2024 CrediiLHS Oiher t&eS SDriAI s¢cwii) 1$ Ga151oll k>iiet%'pm'4yJLbalances relian% deptssits ALrU15 thfenrd income 460 1.40) lJ83 1.250 3.77) 3.584 Trf f¥nds Fund ba]an(es * 31 Juh 20?4 a5 r¢prcs¢nitd b)" Tanwbl¢ fi¥ed a55ets L05h al bartk" A¢iuunts reieiiabk 791.( 41.454 2.51) 13.7731 2.535 Long Ttrfft LwbJliES 2.086 8)? 4¥8 814.744 I'AFf5trbclcd RNtricttd fwNd5 Iwlld5 Toill finds Fiind balances & 31 IU23 as reprÉgeAted bj". Taiigihle fL¥ed assets sh * b&iL tliiounts rei<il'abk 1.482 3.1(X) 51M) 13.51HI 833.311 i4.70i A34.863 57.503 Lo.[¢r l.JabililK5 1.498 888.0 889.582 IJ I'Are5trirtcd CveTherxl Fund5 201J EAptudil¥rt Trin5ff 24 ntral Fthnd 1.498 2.086 2072 Eipemditsre Tr4Dsfers 2023 eral Fund 13.894 52.817 1.498 Purp05ts ofCtDtrsl Funds The unreslrKxed sertral be ar dbcTelN)n lli furthe1 of ilk obFcts of thE chaiih
G#bton CommtEOity Developmeni {SCIO) P#ge 12. Yott$ to the Financial StAtement$ {¢on¢iueO) for the year endinE 31 July 2024 14 Restricttd funds l Augu 2013 31 July 2024 In¢ome Exp¢nditsre Tran5fer5 Offi¢e liiga asset Salarie5 Portlattd Aims Hotel- Set Ll Portland Amis Iloiel Asset Shop Fronts Gala Day S75 111.5771 12261 19.629 7.025 14.216 833.381 20.259 119.6751 7.609 14.216 791.004 142.3771 30 3.779 14.Oi51 ?26 888.084 24.038 179.6641 8.?2.458 31 Julv 2023 2022 Income Expenditurè Tr4n$fers Office quga $¢1 Salarie5 Pomland Amis Hoiel- Sei L'p Portland Arn15 Hotel Assel Shop Fronts Gala Day S75 i8280 7.4)4 14.8481 17.4341 113.6871 33.432 20.712 7.025 14.216 83_1,381 14.216 875.758 142.3771 4.ilo 14,2801 935.688 25.022 172.6261 888,084 Pllryoses of Restri¢ted Fwthds The r¢stri¢ted funds mav QDly br u5¢d for 5p¢cific putP05¢5. Restrictions arise then specifjed b). the dOir of ivhen funds are Tai5ed for specific purposes. The purposes of each futml are listed in the tsames above. The [usa Asset and the Ponland .4rn)s Hoiel Assa reflect ihe resen'es held b). wa). of restTiCt¢d fjxed assets as noted in noie 10. 15 Key M•rtgement Per50nDel Th¢ Board of Trvsiees ¢oftsider that there are rKJ emplol'ed Ke). M. anagetnenl Personnel. These duties are undertsken b). the leadership team whi¢h roThsist5 of Chair. l-ice ChaÈr. Secretary and Treasurei.