2025-06-30-accounts - Old School Thornhill

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REGISTERED CHARITY NUMBER: SC049355

Report of the Trustees and

Financial Statements for the Year Ended 30th June 2025

for

Old School Thornhill

Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI 3SJ

Qld School Thornhill

Contents of the Financial Statements for the Year Ended 30th June 2025

		Page
Report ofthe Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet		6
Notes to the Financial Statements	7	to	13
DetailedStatementofFinancialActivities	14	to	15

Old School Thornhill

Report of the Trustees

for the Year Ended 30th June 2025

The trustees present their report with the financial statements of the charity for the year ended 30th June 2025. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

The charities purposes are to benefit the community of Thornhill and surrounding areas by advancing:

citizenship and community development (including the advancement of rural regeneration);
education;
the arts, heritage and culture;
health;
the provision of recreational facilities, or the organisation of recreational activities with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended.

During the year, the trustees continued to develop the organisation's strategic direction in response to community needs and the charity's transition into the long term operation of a community owned building. At the year end, the trustees were finalising a new Strategic Plan (2026-2029), due to be adopted at the 2026 Annual General Meeting. This Strategic Plan sets out how Old School Thornhill will deliver its charitable purposes through community led development, creativity, enterprise and collaboration, with a particular focus on strengthening long term organisational resilience and community benefit.

In practice, the charity's aims are to:

operate and develop Old School Thornhill as a welcoming, inclusive and well managed multi purpose community hub;
support community participation, local leadership and inclusive decision making, ensuring community voice shapes activity and
priorities;
provide opportunities for children and young people to participate in creative, cultural, educational and recreational activity;
use arts, culture and heritage as drivers for connection, wellbeing and rural regeneration;
support local enterprise, skills and community wealth building through workspace provision, partnerships and training;
improve health, wellbeing and social connection, tackling isolation and supporting inclusive access to services and activities; and
manage community assets responsibly and sustainably, while exploring opportunities for additional community owned assets that support local needs and long term resilience.

In delivering these aims, the trustees are committed to ensuring that the charity operates in line with its values, remains financially sustainable, and continues to provide clear public benefit for the community it serves.

The trustees continue to review the charity's aims, objectives and activities to ensure that they remain focused on delivering public benefit in line with these charitable purposes.

Page |

Old School Thornhill

for the Year Ended 30th June 2025

Report of the Trustees

ACHIEVEMENTS AND PERFORMANCE

Operational overview

The year ended 30 June 2025 represents the charity's first full year of operation following the completion and opening of the Old School Thornhill building.

Throughout the year, the building operated as a fully functioning community facility, supporting a wide range of activity including workspace provision, community events, cultural programming, youth activities, training, and meetings. Use of the building increased steadily over the year, with strong levels of engagement from local residents, community groups and partner organisations.

Tenant occupancy and income streams remained stable, providing a solid operational base while the charity focused on embedding systems, refining processes and supporting quality delivery across programmes and services.

Programmes, activities and community use

The charity delivered a diverse programme of activities aligned to its charitable purposes, including:

creative and cultural events and performances;
youth programmes and youth led activity;
wellbeing, educational and skills based workshops; - community meetings, training sessions and local initiatives; and - support for local groups making useof the facility.

Feedback from users and partners has been positive, and visits to the building increased over the course of the year. The trustees consider that the range and quality of activity delivered during the year demonstrates the building's value as a community led asset and a focal point for local activity.

Strategic development

Alongside operational delivery, the charity continued to engage in wider place based and strategic development activity, including work linked to local place planning, facilities development, and exploration of future community asset opportunities. These activities were undertaken in line with the charity's role in supporting long term community benefit and regeneration.

FINANCIAL REVIEW

Financial position

‘There are currently unrestricted funds of £2,750,343 (2024 - £35,906) and restricted funds of £85,127 (2024 - £2,723,478) available at the year end. Total funds at the end equate to £2,835,470 (2024 - £2,759,384). Of the total funds, £64,597 (2024 - £49,508) is held in a deposit account.

Net income for the year amounted to £76,086 (2024 - £1,379,295), comprising unrestricted funds of (£13,170) (2024 - £17,011) and restricted funds of £89,256 (2024 - £1,362,284).

Reserves policy

The general funds represents the unrestricted funds arising from the past operating results. The Board has established a policy whereby the unrestricted funds not invested in tangible fixed assets held by the charity should be equal to two months of resources expended. The trustees continue to review this policy in light of the charity's operational maturity and risk profile.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

Where additional trustees are required, they are identified and appointed by the Board, having regard to skills, experience and the needs ofthe organisation. During the year, the Board reviewed its composition, and skills mix to ensure it remains appropriate for an organisation operating and managing a community asset.

The trustees who served during the year are set out on the beginning of[the][trustees][report.]

Management and staffing

During the year, the charity strengthened its operational capacity through the establishment ofa Facilities and Compliance Officer role. This post has been central to improving the management of the building, strengthening health and safety arrangements, and embedding compliance, safeguarding and facilities management systems appropriate to the scale and useof the building.

The trustees consider this role to be a key part of ensuring the safe, effective and sustainable operation ofthe charity's main asset.

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Old School Thornhill
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Report of the Trustees
for the Year Ended 30th June 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk policy
The trustees have examined the major strategic, operational and financial risks faced by the charity and confirm that systems are in
place to identify, manage and mitigate these risks.
During the year, particular focus was given to risks associated with:
- health and safety and safeguarding;
- facilities management and regulatory compliance;
- financial sustainability and funding diversification; and
- information governance and data protection.
Actions taken included the development and implementation of updated policies and procedures, clearer allocation of
responsibilities, regular monitoring through Board reporting, and the introduction of formal accident and incident reporting
arrangements.
The trustees consider that the charity now has risk management arrangements that are appropriate for an operational community
facility and will continue to review these regularly.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
SC049355
Principal address
Old School Thornhill
Station Road
Thornhill
DG3 5DF
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Trustees
S Robertson (resigned 31.3.25)
A MacLeod (resigned 31.3.25)
D Formstone (resigned 3 1.3.25)
K Wheeler (resigned 30.6.25)
P Kirby (resigned 30.6.25)
Y Dick (resigned 30.6.25)
S Corner (resigned 30.6.25)
K Watson
C Henderson
V Simpson
S Fergusson
H Carnochan - Chairman (appointed 31.3.25)
R Surtees - Vice Chairman (appointed 31.3.25)
J Howard - Treasurer (appointed 31.3.25)
C Taylor (appointed 30.6.25)
T Berman (appointed 30.6.25)
S McClean (appointed 30.6.25)
M Smyth (appointed 30.6.25)
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Independent Examiner Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI 3SJ Approved by order of the board of trustees on .......18 March 2026.00... ceeceseeseeeeseeeeeeess and signed on its behalf by: oohan H Carnochan - Trustee

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ALCayoohan
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Independent Examiner's Report to the Trustees of
Old School Thornhill
I report on the accounts for the year ended 30th June 2025 set out on pages five to thirteen.
Respective responsibilities of trustees and examiner
The charity's trustees 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 charity's trustees
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 the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An
examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those
records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as
trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit,
and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention :
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts
Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts
Regulations
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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David R Mitchell, BA, CA The Institute of Chartered Accountants of Scotland Farries Kirk & McVean Dumfries Enterprise Park Heathhall Dumfries DUMFRIESSHIRE DGI 3SJ

Date: ....18..March...2018.......eee eeeeceeeeereeeeee

Page 4

Old School Thornhill

Statement of Financial Activities for the Year Ended 30th June 2025

					2025	2024
			Unrestricted	Restricted	Total	Total
			fund	funds	funds	funds
		Notes	£	2	£	£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	2	8,767	188,483	197,250	1,488,824
	Other trading activities	3	3,718	-	3,718	-
	Investment income	4	34,389	-	34,389	15,358
	Total		46,874	188,483	235,357	1,504,182
	EXPENDITURE ON
	Raising funds	5	4,681	1,000	5,681	319
	Other		55,362	98,228	153,590	124,368
	Total		60,043	99,228	159,271	124,887
	NET INCOME/(EXPENDITURE)		(13,169)	89,255	76,086	1,379,295
	Transfers between funds	13	2,727,607	(2,727,607)	-	-
	Net movement in funds		2,714,438	(2,638,352)	76,086	1,379,295
	RECONCILIATION OF FUNDS
	Total funds brought forward		35,906	2,723,478	2,759,384	1,380,089
.	TOTALFUNDSCARRIEDFORWARD		2,750,344	85,126	2,835,470	2,759,384

The notes form part of these financial statements

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Old School Thornhill

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Balance Sheet
30th June 2025,
2025 2024
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ E £ £
FIXED ASSETS
Tangible assets 10 2,753,062 - 2,753,062 2,726,243
CURRENT ASSETS
Debtors 11 4,371 23,239 27,610 7,171
Cash at bank and in hand 2,709 61,888 64,597 49,508
7,080 85,127 92,207 56,679
CREDITORS
Amounts falling due within one year 12 (9,799) - (9,799) (23,538)
NET CURRENT ASSETS (2,719) 85,127 82,408 33,141
TOTAL ASSETS LESS CURRENT LIABILITIES 2,750,343 85,127 2,835,470 2,759,384
NET ASSETS 2,750,343 85,127 2,835,470 2,759,384
FUNDS 13
Unrestricted funds 2,750,343 35,906
Restricted funds 85,127 2,723,478
TOTAL FUNDS 2,835,470 2,759,384
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The financial statements were approved by the Board of Trustees and authorised for issue ON ............0.0::c:eeeeeeeereeeeeeeeees and were signed on its behalf by:

f{ Carnochan - Trustee

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7444Dudes
R Surtees - Trustee
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The notes form part of[these][financial][statements]

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Old School Thornhill

Notes to the Financial Statements for the Year Ended 30th June 2025

ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting 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.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure 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 cost 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings15% on reducing balance.

Amounts written off each asset of the estimated useful life represent cost less residual value.

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion ofthe trustees.

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 included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

DONATIONS AND LEGACIES

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|||| |---|---|---| |2025|2024| |£|£| |Donations|8,764|6,950| |Grants|188,486|1,481,874| |197,250|1,488,824|

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Old School Thornhill

Notes to the Financial Statements - continued for the Year Ended 30th June 2025

2: DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

		2025	2024
		£	£
	The Holywood Trust	35,369	7,626
	Dumfries& Galloway Council	24,942	922,325
	Scottish Community Alliance	757	-
	South ofScotland Enterprise	28,060	338,547
	Thornhill Community Council	20,672	15,000
	Foundation Scotland	18,200	71,300
	Sustrans	-	7,088
	Cycling Scotland	-	13:275
	Galloway and South	-	1,000
	The Energy Saving	-	65,808
	KeirCommunity Council	-	500
	UK Shared Prosperity Fund	-	39,405
	Community Energy Scotland	2,000	-
	Firstport Funding	18,084	-
	Galloway and Southern Ayrshire	400	-
	Galloway Film Theatre	1,000	-
	Renantis UK	6,000	-
	Robertson Trust	8,000	-
	The National Lottery	25,000	-
	Other grants	2	-
		188,486	1,481,874
3.	OTHERTRADING ACTIVITIES
		2025	2024
		£	£
	Event income	3,718	-
4.	INVESTMENT INCOME
		2025	2024
		£	£
	Rents received	32,549	8,559
	Interest receivable	1,840	6,799
		34,389	15,358
5.	RAISING FUNDS
	Other trading activities
		2025	2024
		£	2s
	Purchases	5,681	519

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Old School Thornhill

Notes to the Financial Statements - continued for the Year Ended 30th June 2025

6. SUPPORT COSTS

					Governance
			Management	Finance	costs	Totals
			£	£	£	£
Other	resources	expended	150,053	704	2,833	153,590

TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th June 2025 nor for the year ended 30th June 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30th June 2025 nor for the year ended 30th June 2024.

STAFF COSTS

8.	STAFF COSTS
			2025	2024
			£	£
	Wages and salaries		38,583	53,690
	Other pension costs		1,488	1,752
			40,071	55,442
	The average monthly number ofemployees during the yearwas as follows:
			2025	2024
	Employees		2	3
	No employees received emoluments in excess of£60,000.
9.	COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		fund	funds	funds
		£	£	£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	6,950	1,481,874	1,488,824
	Investment income	15,358	-	15,358
	Total	22,308	1,481,874	1,504,182
	EXPENDITURE ON
	Raising funds	519	-	519
	Other	4,779	119,589	124,368
	Total	5,298	119,589	124,887
	NET INCOME	17,010	1,362,285	1,379,295
	RECONCILIATION OF FUNDS
	Total funds brought forward	18,895	1,361,194	1,380,089
	TOTALFUNDSCARRIEDFORWARD	35,905	2,723,479	2,759,384

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Old School Thornhill

Notes to the Financial Statements - continued for the Year Ended 30th June 2025

TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
				Fixtures
	Freehold	Plant	and	and
	property	machinery		fittings	Totals
	£	£		£	£
COST
At Ist July 2024	2,676,813	29,160		29,763	2,735,736
Additions	29,729		-	5,302	35,031
At 30th June 2025	2,706,542	29,160		35,065	2,770,767
DEPRECIATION
At Ist July 2024	-	4,375		5,118	9,493
Charge foryear	-	3,720		4.492	8,212
At 30th June 2025	-	8,095		9,610	17,705
NET BOOKVALUE
At 30th June 2025	2,706,542	21,065		25,455	2,753,062
At 30th June 2024	2,676,813	24,785		24,645	2,726,243
DEBTORS: AMOUNTS FALLING DUEWITHINONEYEAR
				2025	2024
				£	£
Trade debtors				20,570	1,800
Other debtors				-	190
VAT				1,533	-
Prepayments				5,507	5,181
				27,610	7,171
CREDITORS:AMOUNTS FALLING DUEWITHINONEYEAR
				2025	2024
				£	£
Trade creditors				5,059	2,213
Taxation and social security				-	4,577
Other creditors				4,740	16,748
				9,799	23,538

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

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Old School Thornhill

MOVEMENT IN FUNDS

Notes to the Financial Statements - continued for the Year Ended 30th June 2025

MOVEMENT IN FUNDS
			Net	Transfers
			movement	between	At
	At	1.7.24	in funds	funds	30.6.25
		£	£	£	£
Unrestricted funds
General fund	35,906		(13,170)	2,727,607	2,750,343
Restricted funds
Scottish Land Fund	112,671		-	(112,671)	-
Architectural Heritage Fund	15,000		-	(15,000)	-
The Holywood Trust	307,625		9,994	(307,625)	9,994
Big Lottery		4,440	-	(4,440)	-
Thornhill Community Council	65,000		7,986	(65,000)	7,986
Foundation Scotland	82,311		5,000	(82,311)	5,000
Dumfries& Galloway Council	1,389,679		(18,673)	(1,365,747)	5,259
South ofScotland Enterprise	667,669		28,061	(695,730)	-
Cycling Scotland	13,275		-	(13,275)	-
The Energy Saving	65,808		-	(65,808)	-
Food Initiative		-	7,804	-	7,804
Firstport Fund		-	18,084	-	18,084
Windfarm Fund		-	6,000	-	6,000
The National Lottery		-	25,000	-	25,000
	2,723,478		89,256	(2,727,607)	85,127
TOTAL FUNDS	2,759,384		76,086	-	2,835,470
Net movement in funds, included in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
			£	£	£
Unrestricted funds
General fund			46,874	(60,044)	(13,170)
Restricted funds
The Holywood Trust			35,369	(25,375)	9,994
Thornhill Community Council			20,672	(12,686)	7,986
Foundation Scotland			18,200	(13,200)	5,000
Dumfries & Galloway Council			10,249	(28,922)	(18,673)
South ofScotland Enterprise			28,061	-	28,061
Community Energy Scotland			2,000	(2,000)	-
Food Initiative			16,804	(9,000)	7,804
Garden Fund			5,887	(5,887)	-
Firstport Fund			18,084	-	18,084
Events			1,757	(1,757)	-
Windfarm Fund			6,000	-	6,000
The National Lottery			25,000	-	25,000
Workshop Fund			400	(400)	-
			188,483	(99,227)	89,256
TOTALFUNDS			235,357	(159,271)	76,086

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Old School Thornhill

Notes to the Financial Statements - continued for the Year Ended 30th June 2025

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

		Net
		movement	At
	At 1.7.23	in funds	30.6.24
	£	£	£
Unrestricted funds
General fund	18,895	17,011	35,906
Restricted funds
Scottish Land Fund	112,671	-	112,671
Architectural Heritage Fund	15,000	-	15,000
The Holywood Trust	300,000	7,625	307,625
Big Lottery	4,440	-	4,440
Thornhill Community Council	30,000	15,000	65,000
Foundation Scotland	11,011	71,300	82,311
Dumfries& Galloway Council	507,076	843,198	1,350,274
South ofScotland Enterprise	329,123	338,546	667,669
Keeping Scotland Beautiful	500	(500)	-
Mental Health and Wellbeing Project Fund	31,373	(31,373)	-
Cycling Scotland	-	13,275	13,275
The Energy Saving	-	65,808	65,808
UK Shared Prosperity Fund	-	39,405	39,405
	1,361,194	1,362,284	2,723,478
TOTAL FUNDS	1,380,089	1,379,295	2,759,384
Comparative net movement in funds, included in the above are as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	22,308	(5,297)	17,011
Restricted funds
The Holywood Trust	7,625	-	7,625
Thornhill Community Council	15,000	-	15,000
Foundation Scotland	71,300	-	71,300
Dumfries& Galloway Council	922.327	(79,129)	843,198
South of Scotland Enterprise	338,546	-	338,546
Keeping Scotland Beautiful	-	(500)	(500)
Mental Health and Wellbeing Project Fund	-	(31,373)	(31,373)
Sustrans	7,088	(7,088)	-
Cycling Scotland	13,275	-	13,275
Galloway and South	1,000	(1,000)	-
The Energy Saving	65,808	-	65,808
Keir Community Council	500	(500)	-
UK Shared Prosperity Fund	39,405	-	39,405
	1,481,874	(119,590)	1,362,284
TOTALFUNDS	1,504,182	(124,887)	1,379,295

Restricted funds

Scottish Land Fund - This fund is restricted to fund the purchase ofproperty and related costs. Architectural Heritage Fund - This fund is restricted for the costs of project design, overheads costs and development work. The Holywood Trust - This fund is restricted to the capital redevelopment of Old School Thornhill. Thornhill Community Council - This fund is restricted for the costs of project managers.

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Old School Thornhill

Notes to the Financial Statements - continued for the Year Ended 30th June 2025

13. MOVEMENT IN FUNDS - continued

Foundation Scotland - This fund is restricted to expenditure on the playground project.

Dumfries and Galloway Council - This fund is restricted to the development costs of Old School Thornhill. South of Scotland Enterprise - This fund is restricted to development and consultant costs. Keeping Scotland Beautiful - This fund is restricted to the cost of climate change talks.

Mental Health and Wellbeing Project Fund - This fund is restricted to the This project and the employment of the Volunteer Co-ordinator.

Sustrans - This fund is restricted to Thornhill Active Travel Project. Cycling Scotland - This fund is restricted to the development costs of Old School Thornhill. Galloway and South - This fund is restricted to workshop activities. The Energy Saving - This fund is restricted to the development costs of Old Schoo! Thornhill. Keir Community Council - This fund is restricted to the food bank activities. Community Energy Scotland - This fund is restricted to travel expenditure. Food Initiative - This fund is restricted to the food bank activities. Garden Fund - This fund is restricted to expenditure on the garden project. Employment Fund - This fund is restricted to management costs. Events - This fund is restricted to the cost of running events. Windfarm Fund- This fund is restricted to the cost of active trave projects The National Lottery - This fund is restricted to the cost of the co-creating projects Workshop Fund - This fund is restricted to workshop activities.

14. RELATED PARTY DISCLOSURES

Some trustees and employees pay for studio rental space under normal commercial terms. C Henderson received £1,500 for production of the newsletter in 2024.

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Old School Thornhill

Detailed Statement of Financial Activities for the Year Ended 30th June 2025

		2025	2024
		£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations		8,764	6,950
Grants		188,486	1,481,874
		197,250	1,488,824
Other trading activities
Event income		3,718	-
Investment income
Rents received		32,549	8,559
Interest receivable		1,840	6,799
		34,389	15,358
Total incoming resources		235,357	1,504,182
EXPENDITURE
Other trading activities
Event costs		5,681	-
Catering costs		-	519
		5,681	519
Support costs
Management
Wages		38,583	53,690
Pensions		1,488	1,752
Rent		-	1,600
Rates and water		5,452	281
Insurance		7,857	12,097
Light and heat		18,818	9,403
Telephone		785	521
Postage and stationery		742	1,008
Advertising		3,463	5,874
Sundries		5,509	12,678
Repairs& renewals		4,043	&
Consultancy fees		14,846	4,905
Garden work& maintenance		5,814	-
Workshops		1,826	-
Travel & subsistence		4,527	5,753
Subscriptions		1,005	812
Cleaning		5,194	-
Freelance fees		13,255	-
Food initiative costs		8,634	-
Plant and machinery		3,720	4.375
Fixtures and fittings		4,492	4,351
		150,053	119,100
Finance
Bankcharges	:	704	427

This page does not form part ofthe statutory financial statements

Page 14

Old School Thornhill

Detailed Statement of Financial Activities for the Year Ended 30th June 2025

	2025	2024
	£	£
Finance
Governance costs
Auditors' remuneration	-	2,575
Bookkeeping fees	1,545	1,236
Accountancy fees	1,288	1,030
	2,833	4,841
Total resources expended	159,271	124,887
Netincome	76,086	1,379,295

This page does not form part ofthe statutory financial statements

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