REGISTERED CHARITY NUMBER: SCO48284 REPORT OF THE TRUSTEES AND UNAUDITED FINANCLIL sTATE[s FOR THE YEAR ENDED 31ST MARCH 2025 FOR RE.TWEED JRW Hogg & Thorburn LLP Chartered Accountants 19 Bucclcuch Street Hawick Roxburghshire TD9 OHL
RE.TWEED CONTENTS OF THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Page Report of the Trustee8 Independent Examiner's Report Statement of FiDaDcial Activities 10 Balance Sbeet Nots3 to the Financial StstemeDts 12 to 22 DetAlled Statement of Finan¢ial Actlvities 23 to 24
RTWEED REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31ST MARCH 2025 The trustees present their rqx)rt with the financial statements of the charity for th¢ y¢ar ended 3 1st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of R¢¢ommcnded Practice applicable lo ¢haritics preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Rcpublic of Ireland (FRS 102) (eff¢clive l January 2019). ORJECTIVES ALYD ACTIvrrIES Objectives and aims The organisation's purposes are: To prevenl or relieve poverty particularly among the women and their families in Berwickshire and to promote trainin& particularly among residents of Berwickshire and with particular reference to skills which will assist the participants in obtaining paid employment and developing th¢ir enterprise pot¢ntial. To advan¢¢ education, employment and ¢nterprisc and in particular to promote opportunilics for women who face povety and multiple disadvantages. The advancement of environmental protection or improvement and to incrcase social and environmental awareness. KeTweed advances learnin& citizenship and community, particularly for the benefit of women and young people who experience poverty, isolation and exclusion in Berwickshire and Scottish Borders. Since inception in 2016 we have deliv¢rcd 38 innovativ¢ textiles uy¢llg programmes where over 25Q women learned a wide range of techniques and skills in craft desi and technology undetpinn¢d by a clear environmental philosophy of promoting reduce, reuse, repair and recycle culture for the area. ReTweed tackles ¢ycl¢s of povety, abuse, isolation and low aspiration by helping to identify and develop talent and skills, inspiring new interests and providing opportunities for women to take an active part in the social, civic and eeonornic life of their communities and in doing so. take control of their lives and careers. In th¢ financial year 2024125, 86 woinen. young people and rnembers of the wider cornmunity have thn part in our courscs, workshops and volunteer programme. ReTweed's volunteer programme runs alongside our core training. Our Community of 411F volunte¢rs contrlbute to the manufacture of products for resale, assist in our retail activities and support ihe delivery of community events, commercial workshops, and core training prOamM¢. Follow-on volunteering opportunities within ReTwe¢d support some our most vulnerable women ensuring the progress they have made is sustained long-l¢rn] and women n¢w to ReTw¢ed have the opportunity to broaden their knowledge and skills and build connections in the community. Public benefit The charity is a Public Benefit Entity. Pagc I
RE-TWEED REPORT OF THE TRUSTEES FOR THL YEAR ENDED 31ST MARCH 2025 OWECTtVES AND ACTIVITIES Donated Facilities & ServieL8 SuPrt received in-kind and from donations (materials. equipment, expertise and volunteer contributions) have all helped towards Ihe outcomes and achievements of the or8anisation during the period. Examples includ¢: a) Over a ton of t¢xtiks donated from business, industy and the lo1 community and diverted from landfill back into the community and ¢conorny b) H08t venues for tTaining and dUatIOn events for our students and volunteeTS included: Ey¢mouth Hippmjdrome, and a range of other venues across the region for presentations and pop-up workshops including schools, arts venues and wmmunty centres. c) Our volunteer hours in this financial year increased a little from 2023124 - from 25 in the last financial yeÉW to 45. The total hours regisl¢red for volunteering at ReTWe during the financiaj y¢ar were 3124. Volunleering mainly supports manufacturin& retsil, digitsl rnedia, community events and training delivery. Other volunteering this year has included creating content for social media and volunteer projects, and producl development. These volunteer hours do not include the volunteer hours from our board members. d) Donated ¢quipment from IcKal businesses and commutRity organisations has been le&8 overall this year but both ReTw¢ed and the women continu¢ to benefit from the Zero Waste Hubs in Dunbar, Chirnside and Edinburgh. Donations of furniture, furnishings, equipment and 1extiles continue to be re4onated on to women, other community or craft groups, scrap stores and schools. ¢) Training undertaken by staff, volunteers and board members includes marketing and digital developmenL websile and ecommerce development, digital marketing, financial planning and gencial personal and professional development training. Scottish Borders Council Employment Support Service also provided training and mentoring to our staff on developing I: I support for our students, adUateS and volunteers to make sure they continue lo make progress following their group training programmes. fj Development of both wwiv.retweed.eom and www.internationaltartans.co.uk websites has continued. Thc website for International Tartans was launched in Junc 2023 and continued to deliv¢r a busy cu5tom¢r interface and work continues to improv¢ our analytics and th¢ intcrface between our ¢ustOTners and our products. WO to improv¢ the ReTwe¢d wcbsite and increas¢ trdffic to Shopify (ecommerce element) is a futur¢ priority. 8) 5 part-time staff have delivered ReTweed's core work and 6 part-tim¢ stsff and 4 freelance makers have delivered the International 'fartans Project in the financial year. h) Both R¢Tweed and their Int¢mational Tartan5 Project have dclivcrcd outstanding training for students. We have undertaken 6 courses in R¢Tw¢ed and l advancd iailoring Lourses for Internalional 'l-artans during this year. Page 2
RE-TWEED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Charitable activities Summary of R¢Tweed's Achievements Over the Financial Year Including the Achievements of their International Tartans Project a. We have developed and delivercd two 12-week professional training programm¢s for 15 women facing multiple and complex barriers to making progrcss in their lives and careers. The women (our students) are from Berwickshir¢ and the widcr Scottish Borders. b. We have developed at]d delivered three outreach programmes for 21 women tn remote communiti¢s. ReTweed collaborated witb community parthers to go out into very rurdl areas and provide training and skills to women in areas where no other s¢rvic¢s exist. Thes¢ 7-week cours¢s ran in Cranshaw5, Chirnside and Cockburnspath. These courses offer tremendous comrnunity d¢velopment opportunities for thc students taking part, with many of th¢m becoming active cilizens. developing environmental and craft programmes after th¢ir participation in the R¢Tweed progrnmmes. Cours¢s were supported by 2 voluntecrs from those communities. c. We conlinued development of Level 2 advanced tailoring course with products linked to the a¢cessorie5 being sold ihrough the International Tartans online shop &s wejl as additional extcrnal training opportunities for studenls outside of ReTw¢ed/lnternational Tartans. A total of 8 women coinplcted the one course. d. Our climate CitinShIp work, which lies at the heart of much of what we do, conlinues to go from strength-to-strength. Over the last financial year, our students, grnduates and volunteers continue to lead or be involved in their local communities to promote change in environmental PTactices. With th¢ International Tartans Project, work with business and industry partners and with public sector agencies has b¢¢n inspiring with local businesses responding to our requests for improved ethics around supply chains. Our students and volunteers are also widely recognised as ambassadors for Change - including sctting-up and running village ¢co-swap events and craft groups, promoting OUT environm¢nt4tl work on their social media accounts, raising awar¢n¢ss of the impact of waste on our eco-systems and campaigning for greeT] issues. We had a huge increase in the volume of donations over this financial year and donated approximatsly 50 kilos onto other comrnunity organis&tions and schools across the area. We continued the production and sale of a wide range of band-crafted and upcycled fashions, furnishings and crafts, diverting textile wast¢ from landfill and back into the economy through both the products made on our courses and by our volunt¢eTS. f. Wc are increasing ihe International Tartans sales generated through Scottish Register of Tartans, the n¢w International Tartans Website and our social media. We will continue to investigate n¢w sales opportunities including th¢ developing sector of Business to Business sales. g. The refurbAshment of the new ReTw¢cd pMiSeS started in April 2024 and continued unlil February 2025 with the initial priorities based around rernoving all downstairs fixtures and fittings and ensuring accessibility for our students, volunteers, staff and customers. I'he last piece of refurbishment was the replacement of the large flat roof and upstairs windows. The Board got involved with the refurbishment and came in for a day with stsff to paini the new space. We had help from the local SBC justice service group to paint the main workshop space in preparation for students and volunteeTS returning. The building is securcd as a community asset foT Eyemouth. Whatev¢r th¢ futurc of ReTw¢ed, the building will remain in community ownership for tim¢ immernorial. Page 3
RE-TWEED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 h. Due to our focus on this relocation nUmrS attending presentations, events, work.8hops, training or ReTweed over the year were lower than in the previous year. This includes presentations at Third Sector forums and events across the region. however, we did take part in 9 events in total over the period. Events C041esigned by us and oth¢r agencies including for example, Marchmont Hous¢, Berwickshir¢ Swap, Greener Duns and South of Scoiland Enterprise. W¢ delivered 16 cornmercial crnft Workshops for $2 paying customers. We had reduc¢d Gustomerlvisitor numbers lo our shop in 2024 which was a direct result of the move and refurbishm¢nt work. We missed our summer season which is nonnally our busiest time with a large incrcase in tourist nutnberb over the summer months. Our students and volunteers are aged 16 - 65. The intergenerational element of our work strength¢ns community cohesion as well as achi¢ving outcomes of ¢mployment, further educatiorl volunteering and citizenship. We continu¢ to work with schools delivering prcs¢ntations on social enterprise and textiles upcy¢ling and developing a structure and proarnMe for community-based courses - taking ReTweed out into communitics and areas of comtnunitics where no other learning opportunities exist. j. Our Volunteer Team have continued throughout the year. They Ver a range of tssks including our commissions to manufacture a range of bespoke products from customers, cornmunity organisations and other businesses, lead and support product design, run our retail activities within our shop as well as at .41 events and support cornmunity resAlien¢¢ efforts e.g. supporting individuals who are especially vulnernble linking them into vital support services. Th¢ Board and L¢adcrship Team reviewed our Volunteer Model as w¢ hav¢ many people on ihc waiting list and less progression opportunities for those volunteers who have be¢n with us over a longer period. In 2025 and beyond volunteers will have a maximum of 6 months volunteering with ReTwe¢d with possibilities to help after that period with events and special projects. k. We created 2 new posts for local people within ReTweed through the Int¢rnatAonal Tartans Proj¢ct. Both these posts ar¢ part-funded through th¢ Ernployer Recruitrnent Iiicentivc and No One tKft Behind with 70 % of the funding for the posts being cov¢red for the first year. Internationaj Tartans also provide Freelance Employment for 6 women who have becn manufacturing the range of products for International Tartans during the period. Three of those women moved on into employment after a few months with the International Tartans Project. l. The Intsrnational Tartans Project is proesSIng well during this period and in January 2025 the board took ihc decision to let Int¢rnational Tartans start the process of trading as a CIC. Trading income up on the previous year and now steadily increasing rnonth on month. W¢ launch our website with a wide range of products and s¢rvic¢s not least our Tartan Design Service. We are now working with a technology expert to ensure our search t¢rnis are well ranked and are w)sting regular blogs on tartans with commercial potential. Our Business lo Business relationships are gaining traction and we have awem¢nts in place with a number of mills with ethical practices for weaving our tartans. ReTweed's fledging of Intcrnalional Tartans has becn a huge undertakin8 but it is providing continucd progrcssion opportuniti¢s for our graduates as they go from having no experience and no confid¢nce to kcoming tsilors, seamstresscs and even kiltmak¢rs. Page 4
RE.TWEED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 FINANCIAL REVIEW Fin2neiAI position ReTweed's position at the year-end 31st March 2025 is a n¢t surplus for thc y¢ar of £70,304 {2024, £119,785). The trading in¢om¢ for the period was £62,646 (2024, £40,119) and this increase is due to the Int¢rnational Tartans work in thc ycar. Th¢ unrestricted reserves as at the year-end were in a surplus of £57.355. That represents a slight increase in the Teserves position in the previous financial year. Th¢s¢ rescrves also include unrestricted funding from Th¢ Robertson Trnst and Baillie Gifford. The charity intends to continue r¢storing the reserves position ID lin¢ with iheir charitable obligations. aiming for a minimum of12 weeks running costs. Th¢ current level of fr¢e SerVeS held at 3 1st March 2025 amounts to £35,186 (£57J55 unrestricied funds less £22,169 Fixed Assets). The restricteAI reserves amount to £227,477 at 31 st March 2025. £150,406 of th¢ restricted funds r¢lat¢ lo t funded capitsl projects with the remaining balance relating to ReTw¢ed's ongoing core work as well as ¢l¢ments of th¢ International Tartans prOJt work. Income the financial year for 2024125: £306,508 was derived from grant funding for ReTweed's core serviees and project work from The National Lottery Community Fund. The Robertson Trust. Impact Funders and Scottish Government Improving Communities. £23:321 represents ReTweed Core Trading Income during the period. During the same period £125,409 of grant income was secured against the development of our International Tartans Project from Foundation Scotland fflie Women's Fund), UK Shared Prosperity Fund (SPF) and Fallago windfarni. £39,325 represents International Tartans trading income during the period. Reseryes policy The irustees reit¢rated their commiimcnt to conlinue with our cuffent Reserves Policy to ensure good governance and protect the staff and service users in the event that the organisation needed to wind-up servRces. Standard guidance recommends three months operating costs. The Board remained in agrccment to allocate £4,500 per annum to a point where ReTweed's regerves covered the OSCR good practice guidance i.e. 3 months full operating costs. Going concern The trustees confirni that there are no material unc¢rtaintie8 regarding the Charity's ability to continu¢. Cost of Living FinAnci41 impact The Board awarded cost of living rise in all salaries for staff ag of 1st April 2024 at 4.10/• in line witli RPI. The increase in energy costs has had th¢ most Si1r1¢ant impact on ReTweed and we have sn our energy costs continue lo iiicrcase again over the past fmancial year. The other impact of the cost of living increases are on our beneficiaries. Our priority target group are women facing Multiple barriers including povety. Women are reporting the struggles they are having to pay bills and feeding their tamilies and we also reCOlse the impact this has on general well-being and mental hcalth and ar¢ seeking to address this through our services and supwrL The fjnancial imperative for ReTwced is to incr¢ase thcir trading income in order that they have unrestricted funding to respond to the issues and challenges present¢d with the increased Cost of Living. Pagc 5
TWEED REPORT OF THE TRUSTEES FOR THE AR ENDED 31ST MARCH 2025 FUTURE PLANS- THE WAY FORWARD FOR 2025126 Our new premises will enabl¢ programme expansinn and innovation for R¢Tweed in the years ahead. Going forward into 2025126 the following priorities have been agreed: Dcvelop dedicated services for young people. We will target young p¢opl¢ with disabilities, those outside mainstream education, care-cxperi¢nced and expcriencing mental-hcalth ¢hallenges. Our training, learning and I: I sp¢cialist support will focus on growing skills (including core-skills} and the confjdence they need for healthy, happy lives and sustainable careers. Our 12-week training Programmes will be educational. whilst incorporating a recreational dimension with a Mode digital and f&shion-focus. Hold a Send National 5-Textiles Industy Skills for Work in partn¢rship with Borders Coll¢g¢. This pilot will IK d¢livered over 12-we¢ks for 8 studcnts, prioritising those furthest-removed from employment and young people facing barriers. This will incrcasc our reach and capacity. upskill OUT teain and achieve accrcdited centre status lo serve East Borders. Provide skills and enterprise incubator with space, specialist equiprnent and advanc¢d-training for women and young people setting-up their own creative businesses. Provide person-centred I: l and small groupwork through a new spccialisl employability worker. helping studcnlss graduates and start-up cntrepreneur5 lo action plan, as well as helping with CVS, application fornis and FEIHE pathways. She will also work with volunteers. providing pastoral and careeT-development support to maintain wellbeing and progress at a pace that works for them. The priorities for our International Tartans Project includ¢: Continued commcrcialisation of our tartan and tartan products both online and in our r¢tail and workshop space in Eyemouth. W¢ will expand the r¢ach of our ecommerc¢. - Continued progress on developing business-to-business as well as business-tO-CUStomer opportunities. This will include Weaving Mills, other ethical suppliers and other Manufacturers of tsrtan products here in Scotland and around the globe. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing docutnent, a deed of trust and constitutes an unincorporated charity. Re-Tweed is a Scottish Charitable Incory)OTated Organisation (a SCIO). Tlic assets of Re-Twe¢d (Community Intercst Company) wcrc transferred to R¢-Tw¢cd (SCIO) on l Oth April 2018. Charlty Constitution The Charity was governed by a two-tier constitution from 0110412024 up to 2811012025 when it was Changed to single tier constitution by the then appointed board. The current board are in the process of updating the constitution and reverting back to a tw(Ftier system. R¢cruitment and appointment of neiy trustees Pot¢ntial iruste¢s are identified by curr¢nt board rnembers on the basis of their expertise and gkills set. Vacancies arc advertised regionally and nalionally to encourage the best possible skill set withou1 our Board of Directors. Page 6
R&TWEED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 sTrucruRE, GOVERNANCE AND MANAGEMENT Organlsatlonal strueture Bd members in position during this financial peri have now resign. They resiglled between 28110r2024 and OY0912025 and the current Board members wtre recruited in September 2025. These accounts have been produced with the new Board in place. Ovff the past six months the organisati(n has ¢xpffi¢nL%d a rIOd of si8nifi¢ant ¢han8¢. With support from Borders Community Action. we quickly moved to rebuild ReTWe and the first step in that was to recruit and appointment new trustees: As a new Iwit they have beg the process of reviewing governanee. strenwhening our fmancial managemen( and putting in place the right policies to ensure that the challenges of recent months are not reated. Whil¢ originally s¢¢dd by ReTWee Intrfnational Tartans has now become an indendent Organisatio led by Hazel Smith. We are proud to see it flourishing in its own ri8ht. R¢Tweed is now under full board control and is b¢in8 kd with care and corn¢¢¢ by Nichola Purvis, our new Chief Officer. who works closely alongside us. Our projects are progressing well, and our fin8nces are being carefully reviewed and stabilised. We are grnteful to our core funders for confirniing their ongoing support now a new board is in place. Rebuilding our fimds and ensuring bdter inwme from trading and rentsl are a priority going forward. Over the past nine years. ReTweed has made a markable impact across the Bordels, empowering women and transforniing lives. With renewed stability and a strengthend foundation. we are confident about future. Kry management remunerydllon Key management rsonnel were remunerated a total of £85.066 during the period (21r24, £69.301), with no exnSeS reimbursed in the riod (2024, Nil). Th¢ constitution statw that the Project Maaag¢rlChi¢f offi shalL notwithstandin8 that she is a trustee of the or8anisatj0 be entitled to retsin all r¢mun¢ratio and all pa]sion andlor other Ixnefits. paid (r provided to hff in her capacity as an employee of the company. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC048284 PrlntipAI addras Manse Road Eyemouth TD14 5JE Page 7
REPORTOF ThETRUSTEES 7D9 OHL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RE-TWEED I report on the accounts for the year ended 3 1st March 2025 set out on pages ten to twenty two. Respectiv¢ responsibilities of trustees and examiner The charity's trnstees are responsible for the preparation of the accounts in accordance with the tern]s of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). Th¢ ¢harity's trustees consider that the audit requirement of Regulation l O( l )(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to cqMin¢ the accounts as requir¢d under Section 44(1)(c) of th¢ Act and to state whether particular matters have come to my attention. Basls of the independent examlner's report My examination was carried out in accordance with Regulation I l of the Cbarities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounling r¢cords kept by the charity and a comparison of th¢ accounts presented with those records. Tt also includes consideration of any unusual ilems or disclosures in th¢ accounts, and s¢cking ¢xplanations from you as trustc¢s concerning any such malters. The procedures undertak¢n do not provide all thc evidence that would be required in an audil and consequently I do not ¢xpress an audit opinion on the view given by the accounts. Independent exgminer'$ statement In connection with my ewamitvation, no matter has come to my attention . (l ) which gives me reasonable Cause to believe thaL in any material r¢sEKcL the requirements to keep accounting record8 in accordance wilh Section 44( Ixa) of the 2005 Act and Regulation 4 of the 2006 Accounls Regulations. and to prepar¢ accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been rnet; or (2) to which, in my opinion, atlention should be drawn in order to enable a proper understanding of the accounts to be reached. JRW Hogg & Thorburn LLP Chartered Accountants 19 Buccleuch Street Hawick Roxburghshire TD9 OHL 4th February 2026 Page 9
RLTWEED STATEMENT OF FINANCIAL AcfIviTIES FOR THE YEAR EIYDED 31ST IWICH 2025 2025 Total funds 2024 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 44,099 276,510 320,609 323.814 Other trading activilies Other income 23,321 39,325 62,646 40.119 41 Totsl 67,420 315.835 383.255 363,974 EXPENDrruRE ON RAising funds 7,359 49,194 56,553 36,390 Charitable actlvities Charitable activities 57.101 199,297 256.398 207,799 Total 64,460 248,491 312,951 244,189 NET INCOME 2,960 67,344 70,304 119.785 RECONCILIATION OF FUNDS Total funds brought forward 54,395 160,133 214,528 94,743 TOTAL FUNDS CARRIED FORWARD 57,355 227,477 284,832 214.528 The notes forni part of these financial statements Page 10
TrE£D BALANCE SHEET 31ST MARCH 2025 fvnd fiwds 10 Iiji 170.424 1751 14776 169 148255 21169 150.4( IW75 129527 CURREKf Assrrs 12 13 28,571 ijjo 24.776 18,656 51948 41A81 84683 41876 77.723 120JW W80 CREDITOKS AmD* within one y 14 (7ffj90) (652) 42) (l iJ79) 31186 .071 112257 85.001 TOTAL A&SETS CURREKr UABILMLS 57J55 2rJ.4TI 284432 214528 57J55 227.477 284832 214J23 16 57J33 227.4TI 54395 1&).133 TOtAL FUNDS 284J32 214528 3nl 2026 tmd wert SI10n its be1lfby.
RE-TWEED NOTES TO THE FINANCLIL sTATEmE[s FOR THE YEAR ENDED 31ST NIARCH 2025 AccouNfllYG POLICIES BASIY of prepgring tbe financial statements The fmancial statements of the charity, which is a public benefit entity under FRS 102, have been prepar¢d in accordance with the Charitios SORP (FRS 102) 'Accounting and R¢y)rting by Charities: Statement of Recommended Practice applicable to charitlC5 preparing their accounts in accordance with the Financial Reporting StaDdard applicable in the UK and Republic of freland (FRS 102) (efTecliv¢ l January 2019),, Financial Rewrting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention. Going ¢onc¢rn The directors have assessed a period of 12 months fron] thc date of approval of the financial statements and consider thal no material uncertainties exist that cast significant doubt about the ability of the company lo ntinUe as a going Concern. Thus the directors adopt the going concern basis of accounting in preparing the financial staternents. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to thc fund4 it is probablc that thc income will be received and the amount can be measured reliably. Perforniance related grant income is deferred unlil all conditions ar¢ met. Expenditure Liabilities are rccognis¢d as expenditure as soon as there is a legal or constructive obligation cominitting thc charity lo that expenditure. it is probable that a transf¢r of economic benefits will be required in settlement and ihe amount of the obligation can be measured reliably. Ex[nditUre is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where cost5 cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fjxed assets Dcpreciation is provided at th¢ following annual rales in order to write off each asset over its estimated us¢ful life or. if held under a financc lease, over the lease terni. whichever is the shorter. Freehold property Plant and machinery Office equipment Website development not provided 250/0 on wst and 200/0 on reducing balanc¢ 25% on cost 25% on cost The freehold propety is maintained at a level which the trustees believe will maintain its residual value at the cost of the property. Accordingly, no depreciation is charged. St4xks Stocks arc valued at th¢ lowcr of cost and n¢t r¢alisable valuc, aft¢r making duc allowancc for obsolete and slow moving items. Taxation The charity is exempt from tsx on its charitable activities. Page 12 continued...
RE-TWEED NOTES TO THE FINANCIAL STATEIIIENTS- continlled FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES - CODtinued Fund accounting UnTestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be us¢d for particular restricted purposes within the objects of th¢ charity. Restrictions arise when sp¢cified by the donor or when funds are Taised for particular restricied Purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financiaI statements. Hire pllrche and leasing commitm¢nt8 Asscts obtained under hire purchasc ¢onlracts or finance leases ar¢ capitalised in the Balance Sheet. Those held under hire purchas¢ Contracts are depreciated over their estimated useful lives. Those held under finance lea8e8 are depreciated over their estimated useful lives or the lease tern), whichever is shorter. Rentals paid under opernting leases are chargcd to the Stst¢ment of Financial Activities on a straight line basis over the period of the lease. Pension costs and other post-retlrement benefits The charity operates a defined contribution pension schern¢. Contributions payable to the charity's pension s¢h¢m¢ are charged to the Statement of Financial Activities in the period to which they relate. DONATIONS AND LEGACIES 2025 2024 Donations Grants 14.101 306,508 40,050 283,764 320,609 323,814 Pag¢ 13 continued...
RE.TWEED NOTEI S TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31ST MAKCH 2025 DONATIONS AND LEGACIES - continlled Grants re¢¢iv¢d, included in the abov4 ar¢ as follows". 2025 2024 South of Scotland Enterprise (Capital) Dron¢ Hill Wind Fann Cornmunity Benefit Fund Impact Funding Partners Blackhill Windfarni Community Fund National Lottery Community Fund The Robertson 'frust Scottish Government School for Scottish Entery)rise Scottish Borders Council Women's Fund for Swtland Clothworker Foundation Foundation Scotland Preston and Abbey Communty 'l"rust Fallago Environment Fund 95,000 14,140 12,652 3,200 43,863 25,300 34,316 5,000 47,293 3,000 10,500 69,758 25,000 32,600 104.609 30,000 7,905 5.000 21,136 306.508 283,764 OTHER TRADING AcfivTFIES 2025 2024 Sales Workshops Commissions International Tartans 10,632 12.389 300 39.325 13,676 2,386 607 23,450 62,646 40,119 Page 14 continu...
RE.TWEED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2025 CHARrrABLE ACTIVITIES COSTS Dir¢¢t Costs (see note 5) Support costs (see note 6) Totals Charitable activities 245,826 10.572 256,398 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Trustees, remuneration etc Staff costs Freelance team Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Volunteer expenses R¢pair5 to propety Computer expenses Membership & conference fees Stsff expenses Cleaning Bank charges Credit card ¢hargcs Office sundries Equipment rental Legal & professional fees 33,125 136,456 1,500 15,609 2,405 12,196 4,650 3,175 5.574 188 4,349 1,943 784 43,341 111,609 2,481 14,847 2,025 6,517 2,784 1.881 2,206 57 2,121 1,094 720 80 1,398 578 228 252 886 4,533 1,814 1,763 601 1,347 1,187 17,160 245,826 199.638 Page 15 continued...
RTWEED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2025 SUPPORT COSTS Governance costs Management Totals Charitable activities 6,500 4,072 10,572 Support costs, included in the above, are as follows., 2025 Charitable activities 2024 Total activities Amortisation of intangible fixed assets Depreciation of tangibl¢ and heritagc 600 249 5.900 4.072 5,146 2.766 Accountancy 10,572 8,161 TRUSTEES" REMUNERATION AND BENEFITS 2025 2024 Trngt¢es' salaries Trustees, social security Trustees, pensions paid 28,865 3,251 1.009 39,783 2,269 1.289 33.125 43,341 Tnistees, expenses There were no trustees, expenses paid for the year ¢nd¢d 31 st March 2025 nor fi)r th¢ year ended 3 1st March 2024. STAFF COSTS 2025 2024 Wages and salaries SocFal se¢urity costs Othcr pcnsion costs 159.668 6,104 2.800 145.801 5.771 2,089 168,572 153,661 The average monthly number of employees during th¢ y¢ar was as follows: 2025 2024 Employees No employees received emolumcnts in ex¢ess of £60.000. Page 16 ontinued...
RE.TWEED NOTES TO THE FINANCIAL STATEMENTS- continved FOR THE YEAR EIWED 31ST I¥L4RCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds JNCOME AND EIYDOWMENTS FROM Donations and legacies 40.350 283.464 323.814 Other trading activities Other income 16.669 41 23,450 40.119 41 Total 57,060 306,914 363,974 EXPENDrruRE ON Raising funds 18,612 17,778 36,390 Charitydblc aetlvities Charilable activities 42,901 164,898 207,799 Total 61,513 182.676 244,189 IYET ll¥COMEI(EXPEIWITURE) Transfers between funds (4,453) 2,442 124.238 (2,442) 119,785 Net movemeDt in fuDd8 (2,011) 121,796 119.785 RFCONCILIATION OF FUNDS Totsl funds brought forward 56,406 38,337 94,743 TOTAL FUNDS CARRtED FORWARD 54.395 160.133 214,528 Page 17 continued...
RTWEED NOTES TO THE FINANCIAL STATEMEIYTS- continued FOR THE YEAR EIVDED 31ST MARCH 2025 10. INTANGIBLE FJXED ASSETS Computer software COST At Isl April 2024 and 31 st Mah 2025 3,000 AMORTISATION At 1st April 2024 chge for year 249 600 At 31 st March 2025 849 NET BOOK VALUE At 31 st March 2025 2,151 At 315t March 2024 2,751 11. TANCIBLE FIXED ASSETS Freehold property Planl and rnachinery Office Website equipment development Tolals COST At I st April 2024 Additions 110,800 44.695 11,072 758 7,383 4,094 13,529 142,784 49,547 At 3 1st March 2025 155,495 11,830 11.477 13,529 192,331 DEPRECIATION At 1st April 2024 Charge for year 5,604 1,106 4,876 1,691 5.528 3,102 16,008 5,899 At 3 1st MaTch 2025 6,710 6,567 8,630 21,907 NET BOOK VALUE At 31 st March 2025 155.495 5,120 4,910 4,899 170,424 At 3 1st March 2024 110,800 5,468 2,507 8,001 126,776 Pag¢ 18 conlinued...
RE.TWEED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST NL4RCH 2025 11. TANGIBLE FIXED ASSETS- continued Fixcd assets. included in the abovc. which are held under hire purchase contracts or finance leases are as follows: Office equipment COST At I st April 2024 Transfer to ownership 1,898 (1,898) At 3 1st March 2025 DEPRECIATION At 1st April 2024 Tvdn5f¢r to own¢rship 1,898 (1,898) At 31 st March 2025 NET BOOK VALUE At 31 st March 2025 At 31 st March 2024 12. STOCKS 2025 2024 Stocks 28,571 24,776 13. DEBTORS: AMOUNTS FALLll¥G DUE WITHtN ONE YEAR li 2025 2024 Trade debtors Other debtors Prepayments and accnjed income 86 116 18,454 40 3,261 3,345 18,656 Page 19 ontinued...
RE.TWEED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31ST MARCH 2025 14. CREDITORS: AMOUNIS FALLING DUE WITHIN ONE YEAR 2025 2024 Bank loans and ovcrdrafts (see notc 15) Trade creditors Taxation and social security Other creditors 6,878 1,359 334 2,808 1,713 2,793 3,836 8.342 11,379 IS. LOANS An analysis of the maturity of loans is given below." 2025 2024 Amounts falling due within on¢ year on demand: Bank overdrafts 6,878 16. MOVEMENT IN FlJhlDS Net movement in funds At 31.3.25 At l.4.24 Unrestri¢led funds General fund 54,395 2,960 57,355 Restricted funds Big Lottery - Improving Lives South of Scotland Enterprise International Tartans Clothworkers SBC- CLLD 5,797 95,000 59,336 31.079 36,876 95,000 49,421 30,000 16.180 {9,915) 30,000 16,180 160.133 67,344 227,477 TOTAL FUNDS 214.528 70,304 284,832 Pag¢ 20 continued...
RE-TWEED NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31ST MARCH 2025 16. MOVEMEIYT IN FUNDS - eontinued Net movement in funds, included in th¢ above are as follows: Incoming resources Resouffes ¢xpciid¢d Movemenl in funds Unrestrieted funds General fund 67,420 (64.460) 2,960 Rutricted funds Voluntary Action Fund Investing in Communities Big IJ)ttery - Improving Lives International Tartans Community Courses SBC - No One Left Behind Clothworkers SBC- CLLD 10,500 32,600 69,758 125,409 4.905 26,483 30,000 16,180 (10,500) (32,600) (38,679) (135,324) (4.905} (26.483) 31,079 (9,915) 30,000 16,180 315.835 (248,491) 67,344 TOTAL FUNDS 383,255 (312,951) 70,304 Comparatives for movement in fund$ Nel movement in funds 'rransfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 56,406 (4,453) 2,442 54,395 Restricted funds Big Lottery - Improving Lives Scottish Border8 Social Entery)ris¢ Chamber - Seedcorn Fund South of Scotland EnterISe Baillie Gifford tnternatloiial Tartans Cornmunity Course5 5,375 2,305 312 422 (791) (250) 95,000 (83) 29,233 707 5.797 (1,514) (62) 95.0(M) 242 30.103 (159) 59,336 (707) 38,337 124238 (2,442) 160,133 TOTAL FUNDS 94,743 119.785 214.528 Page2l continued...
RLTWEED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST lARCH 2025 16. MOVEMENT IN FUNDS- cont5nved Comparative net rnovement in funds, included in th¢ above ar¢ as follows: Incoming resources Resources expended Movement in funds Unrestricled funds Gen¢ral fund 57,060 (61,513) (4.453) Restricted fuDd3 Voluntary Action Fund Investing in Communities Big Lottery - Improving Lives Scottish Borders Social Enterprise Chambcr - Seedcorn Fund Soutb of Scotland Enterprise Baillie Gifford International Tartans Community Courses 12,653 34,317 33,863 (12,653) (34,317) (33,441) (791) (250) 422 {791) (250) 95,000 (83) 29,233 707 95,000 25,000 97.940 8,141 (25,083) (68,707) (7,434) 306,914 {182.676) 124.238 TOTAL FUNDS 363,974 (244,189) 119,785 International Tartans The funding secured for International Tartans in this flnancial year came through frorn Foundation Scotland (Women's Fund). UK Shared prosperity fvn(L Fallago Windfarni and SBC (No One Left Behind). These ndS were utilised in line with the individual fvnding agreements. In addition International Tartans generates its own income through the sale of tartans and associated producls. 17. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 st March 2025. Page 22