Charfty numbér: SC049421 GALLOWAY COMMUNrrY TRANSPORT SCIO (A Scottish Charitable Incorporated Organisation) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Armstrongwatson. Accountants, Business & Financial Advisers GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl CONTENTS Page Reference and Administrativa Dètasls of thè Company. its Trustees and Advisers Trustees. Report Trustees. Responsibilities Statement Independent Examiner's Report Staternent of Financial Activities 10 Balance Sheet Not•s to the Financial Statements 12-24 GALLOWAY COMMUNrrY TRANSPORT SCIO IA Scottish Charitablè Incorpornt•d Organisation} REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPAI4Y, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Trustses Charfty raglst8rgd numbgr SC049421 Registered office Catslfand H￿Jh Street New Galloway Casde DougL%s DG7 3RN Accountants Armslrong Watson LLP 51 Rae Stmt Dumfries DG1 1JD Page 1 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitablè Incorporated Organi5ationl TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present their annual report together with the financial Statements of the Company for the year 1 Septeniber 2023 to 31 August 2024. Thè Annual Report serves the purposes of both a Trustees, report and a directors. report under company law. The Trustees ¢onfinn that the Annual Report and financial statements of the charitable comDanv comolv with the Current statutorv reauirements. the reouiremenls ol the charitable companys governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeth.ve 1 January 2019}. Since the Company qualif￿S as small under section 382 of Ihe Companies Act 2006, the Strategic Report rrfuired of medium and large companies under the Companies Act 2006 IStralegi¢ Report and Directors. Report) Regulations 2013 has been omitted. Obl9Ctlves and a¢tfvttie$ Policies and objectiv 1. The advancement of ctb"zenship and community development linclLKfing rural or urban regeneration). 2. The relief of those in n89(I by reason of age, i1￿health, disability. financial hardship. rural isolation or other disadvantage. b. A¢tivities undertaken to achÉeve objectives The provision of a range of community transport se￿￿, faciltires and resources. ¢. Main activities undertaken to further the Compan￿$ purposes for the publlc bèn¢ffit The provision of a range ol community transport services. facilities and resources. Achiev•m•nt$ and perfoman¢e . Review of activities 2023-2D24 was a very positive year for GCT in a challenging environmenl. We made concrete progress towards our charitable purposes of.. The advancement of citizenship and community development lin¢luding rural or Ltrban regeneration). The relief of people in need by reason of age. ill-health. disability, finan¢ial hardship, rural isolation or other disadvantage. We do this through our work delivering ￿Mmunity transFort around the Glenkens beyond. A summ8ry of our achievements and challenges follows. 11 Finances GCT remains a wholty owned subsidiary SCIO of GCAT, and as su¢h we both publish our accounts individually and have them consolidated within those of GCAT. Oespite the challenging financial climate. we have had a very successful year. The large carry-forward from the eBLts funding, where we re￿iVed the funding last financial year but could not buy it until this year. now reflects the currenl position. The other large capital sums donalecj (nearly £100,000 in totall for the pur¢hase of two vehicles were given and spenl wlhin this financial year. We made an operational surplus of £66,196. which Ixjts us in a sound p05iiion as we IcNJk forward to what could be another challenging year in 202412025. Page 2 GALLOWAY COMMUNTfY TRANSPORT SCIO IA Scottish charItab￿ Incorporat8d Oryanisatlonl TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achlevements and perfomiance Icontinu¢d} 21 Fleet Renewal In October 2023. ￿ finaty re￿1Ve{l delivery of our bran￿r￿W SKJma 7 eleclric 1&seater minibus. thanks to funding from Plugged-in CommunitEs via the Energy Sawng Trust. We have since introduced this vehide to our regular se[w￿, which has been very well received by passervJers. The electric chargirvJ situation Is 5b.ll a challenge to us t¥Jt we have V￿rked around this and are atso in the process of training up more drivers which wll further expand its utilisats"on. We're do1￿h1￿ to be ￿nts"n￿lng to WOTk towards our aim of fleet decarbonisa1￿n, while recognising the challenges of doing 50 in a remole-rural environment. As referred to 8ty)ve in May 2024 we were offered a very gener￿$ donalK)n from a group of anonymous private donors which allowed us to wrchase another vehide for GCT outright- a neaty-new12023 registered) Ftyrd Transit 16-se8ter minibus. This Vehic￿ has done an excellent job in delivering bespoke member hires to a wide range of dients, all of vknom have c*Mnmented on Ihe comfort of the veh¢de. This In turn has resulied in an Inc￿aSe of membership hi￿S. In August 2024, the same dc￿orS offered us another generous donation, which we malchecl wlth grant funding from the Garfietd Weston Foundats"on. Ihe Robertson Trust 8rKI trE James T How81 Ch8rit8ble Trust. plus a 5rnall contn"bulDn from GCT'S own reserves, to enable us to purchase 8 brand-new Peugeol Boxer 1&se8ler minibus. This vehicle iy 8 fully 8ccessibl8 8d8ptsbon 8nd features an electric wheel¢hair lrft.11 also weighs under 3500kg. which makes it avatlable to drivers who do have a D1 on their drNing licence. ThTrs opens up drtving opwjrtunitigs lo a wthlar audience. Thesè f￿et re￿a¢8mentsladdlt1OnS have already reduced GCT'S vehide repair and rnaintenance costs by nearfy £4.000 in comparison to the previous financial ￿ar. As this was a part-year saving. we anticipate the savings made in 2024-2025 will be even greater. Mary thanks to all our funders and supporters vtho have helped us lo make this stepchange in OUT C02 emi8sws. Maintenan￿ c4)sts and qu81ity Df seM¢e. 31 Staffing In Novèmber 2023 we dr8w down the final £12.500 fijnding from Ihe Glenkens and District Community Fund to assist with the GCT Administrator satary (from £25k award in 2022-23). Many thanks lo ihis local fund lor their support whith h35 alh)wed us to grow and assure WT quality delivery for the [e0￿e of the Glenkens. In June 2024 we rL In apprèclatlon A sincere thank you lo all our volunteer drtv&rs. both for bu885 and patient transport- we simply cannot function without your dedication, flexibility and supporL Thanks also to our dedicated GCT sub+committee volunteers who provide detailed slrateoic oversi9hl. ¢)peralirmal suppcM1 and finanoal gUIdar￿ on behalf of the GCAT Board. A huge thank also to our anonymou5 donors who ena￿ed us to purchase t￿) new Vehic￿ this year- your appreciation of wh91 GCT ddivers for Ihe Glenkens cornmunits'es. and Sour commitment lo seeing us become an even slronger Community Transwrt Ottralor. ha5 sel us on a real path for success as we look forward. Thank you as well to all the other fvJrKJws have contributed to our cost5 this year. both revènuè and c4pi181: Thè Glenkens and District Community Bonefit Fund through Foundati￿ Scouand, the James T Howat charitab￿ Foundatw)n, the Garfield Weston Foundakn"on. the Robertson Trust and Third Sector D&G . Thanks to their support, we arè now in an extremely strong position to mainlain and grow our oulcomes IOT the people of the Glenk8ns and twrKI. Page 6 GALLOWAY COMMUNITY TRANSPORT SCIO {A Scottish Charitable Incorporated Organi5ationl TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 In apprgciation (continued) Thank you to the GCT staff, Joll. Sve and Jason. who work above and beyond to support the people of the Glenkens with their transFth nee(Is. Thank y)u as well to the Leadership and Business Supw)rt teams in GCAT. who provide 8tr8tsgic gui¢Janc*. lin8 manag8menL finan(a81 support 8ThJ office spar8. Thank you to Maxwells vtho Contin￿ to allow us to pafk ￿r vehicl&8 in their barn - it Is very much appreciated. And lasuy, thank to all Ihe users of Galloway communsty Trdnsport, from our regular passenger8 to the minibus hires to the young people we take to sthrKA - we hope we￿e been of service and we hope lo see you next year! Approved by Drder of Ihe members of the trt)ard of Tlustees and signed on their behalf by.. Page 7 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated 0rganisats.onl STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGLIST 2024 The Trustees (who are also the dI￿¢tOrS of the Company for the purwses of company lawl ale responsib￿ for pieparir.,g Ll..è Tru>leEs' RetyQrt ane the fiiaDc..al >.'o:emenls In av.ordance applicable Ji Id UTr￿￿ed lQngdom Accounts"ng Stsndar(Js (United Kingdom Generalty Accept&l AcccAJnting Practice). Company law requires the Trustees to prepare financ￿11 staléments for each financial year. Under company law. the Truslees must approve the financial statements unbess they a￿ satisfied that they give a true and fair view of the slate ol affairs of the Company and ol its inc(Kning resour￿5 and 8pplicalion of resource8. including ils income ar¥J expenditure. for that period. In prepariNJ ￿se financial statements, the Trustees are required tr>.. select suitable accounting ￿lItieS and then ap￿Y them consistenuy. observe the meth￿S and principles of the Charitses SORP IFRS 1021- make jLKlgments and accounting estimales thal are ￿aSonable and prudent- state whether applicable UK A¢¢ounting Standards IFRS 1021 have fotk)b%*d, subj￿1 lo any material departures disck)sed an(th explained in the financk31 siaternents., prepar8 the financial statements on Ihe going con(*m basis unless rt is inappropriate lo presume that the Company will continL* in tyjsiness. The Trustees are responsible for keeping adequate accounting records Ihal are suffioenl io sFx)w Sr￿ èxplain the CoMpan￿S IransaclK>ns and disfjlose wlh reasonable a￿Vr¥ al any lime the financial position of the Company and enable th￿ to ensu￿ that the finanGial stslements ￿mplY with the Companies Act 20D6, the Charities and Trustee Investment Iscouandl Act 2005 and the Charibes Accounts (Scotlandl Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the Company and hence for taking reason8ble steps for Ihe prevention detectK)n of fraud and other irwularities. Appioved by orde¥ of the members of the boatd of Trustees ar¥J sig1￿d on its behaff by. Page 8 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organi5ation} INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Indopondent Examin•rfs Report to th• Trustoes of Galloway Communlty Tran$p¢rt SCIO I report on the a¢￿￿nts of the Lx)mpany lor the year ended 31 August 2024 are set cxrt on pages 10 to 24. Respectlve Rgsponslbllltlos of Trustoes and Examlnor The trustees. who are also direclois of the (x)tnp8ny fix Ihe purposes of company law. are res5M)nsible lor the prep8r8tion of the finan¢i81 $tstements Èn ae(x)rdan(8 with the temis of the Charthes and Trusteè Investment IScod8ndl Act 2005 I'lhe Act'l and the Ch8rili&8 Accounts Iscouandl RegLJlation 2006 1.the Accounts Regulations'l. The trustses Considgr that the audil requirement of Regulation 1011 Ila) to Ic} ol the Accounts Regulations does not appty. It is my responsitHIty lo examine th& financial slatements as required under section 441111¢l of the Act and to state whether parlicular mattgr$ have ¢ome to my aitention. Basis of Independent Examinerfs SLthment My examination wms carried out in accordance ￿￿th regulation 11 of the A￿￿nts Regulations. An examination includes a ￿VIeW of the accountiThJ records kepl by the company and a o)mparison of the financial statements presented with those records. It also indudes CKJnsideration of any unusual iterns or Llisclosures in the finanGig1 statements, and seekir*g explanations from you as trustees o)nceming any suo* matters. The proGedures undertaken do not prowde all the evidence that ¥w)uld be requIr￿j in an audit. and o)nso4utsnlly I do not express an audit opinion on the view gwen by the accounts. Independenl ExamlneV$ Stslement In the course of my examinatson, m malter has c£fne to my 8ttent¥)n.' which gNes me reaSona￿e cause to bdieve Ihat in arry material respect the requirements: to keep accounts.ng records in accordanc& with section 4411)lal of the Act and regulation 4 of th Accounts Regul*"ons: and to prepare finanual statements ¥thich accord ￿th the accounb.ng records, Accounting and Rerx)rbng by Charities prepafing their accounts In 3¢wdan￿ with the Financial ReFM)rting Standard in the UK and Republic of Ireland IFRS 1021 and in othef respects cornply with regUlat￿n 8 of the Accounts Regulations have not been rnel,. or to which. in rny opinion. attenlim shoukj be drawn in LY(ler to enable proper understsnding of the finanGk81 statements lo be le￿h￿J. This report is made soldy to the companys Trustees, as a body, in aC￿r￿an￿ wlh regulation 11 of the Charities Accounts (Scouand) Regulat￿nS 2￿6. My w￿k has been undertaken so that I might state to the cornpangs Trustees those matters l am required lo slate to them in an Inderendent Examinerfs Report and for no other purpose. TD the fullest extent ￿MIl￿ed by law. I do not 8ccept or assume resw)nsibility to anyone other th8n tho comp8ny 8r)d the ¢w1pan￿$ Trustees as 8 tthy, for my wcM* or for this report. Armsirong ￿hatSOn LLP 51 Rae Street, Dumfries. DG1 1JD Page 9 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE Y&4R ENDED 31 AUGUST 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tolal funds 2023 Note Income from: Donations and legactes Ch8rit8ble 8clivities Investments 103.089 9.135 301 164,732 165 103.390 173,867 165 245,694 135,628 Totsl income 112,224 165.198 277,422 387,322 Expenditure on: Charitsble activitses 18,667 192,559 211.226 152.044 Total expendltu 18.667 192,559 211.226 152,044 Net incomellexp8nditurel Transfers be￿een funds 93,557 (325.503) 127,3611 325.503 66.196 229.278 12 Net movement in funds {231,946) 298,142 66,196 229,278 Reconciliation of funds: Totsl funds brought forward Net movement in funds 250,442 1231.946) 43.222 298.142 293.664 66.1 64,386 229,278 Total funds carried forward 18,496 341,364 359.860 295,664 The Statement of Financial Actiwties indudes all gains and kjsses recognised in the year. The notes on pages 12 10 24 form part of these financial stalements. Page 10 GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitable Incorporated Organisatlonl REGISTEREO NUMBER: BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Flxed assets Tangibk assets 285.194 6.398 285.194 6.396 Current assets Debtors 10 4.284 72.232 428,445 51,542 Cash at bank and In har*1 76.516 479,987 Credrfcors.. amounts falling due within one year 11.850) (192, T19) Net current assets 74666 287.268 Total net assets 359,860 293.664 Charity funds Reslricted funds Unrestricted funds 12 12 18.496 341.364 250.442 43.222 Totsl funds 3YJ.860 293.664 The financial statements were approve(S and authrrfisd for issue by the Trustees and signed on their behalf by. T￿1 noies Gil Pdges 12 LG £4 lorffi pail c., &. ¢èse Tifiarica S￿￿elli￿r.ts. Page11 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 General information Galloway Community Transport is a Scottish Charitable Incorporated Org8nis8lion registered with OSCR. GCT is SCIO Yrith strorwj operatKJnal links and ￿MmOn Trustees wth The Glenkens Community and Arts Trust. Thè registered add￿sS arKI prin¢ipal place of business 15 The Calstrand, High Street, New Galloway. DG7 3RN. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordan￿ wtth the Charities SORP IFRS 1021 Counting and Repo￿n9 by Charilies= Statement ol Recommended Practice applicable to charities p￿paring their a¢¢ounts in accordance the Financrdl Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 1021 leffeclive 1 January 20191. the Firiancial Reporting Standard applicable in the UK and Republr of Ireland IFRS 1021- Galloway Community Transpx)rt SCIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historicAI cost or transaction value unless otherwise staled in the relevant accounting p)licy. 2.2 Going ¢on¢em The Trustees have reviewed the coming 12 months from September 2024 to August 2025 in their Going Concern assessment. induding various scenarios su¢h as the shortage of an available vehicle or suitable drivers as well as a loss of funding and they are confident that through the successful maintenance of core contracts. accessing a national support scheme and prndent planning, they have sufficient resour￿ available to meet their needs for a period beyond 12 months from the point of signing. 2.3 Income JI income is recognised once the Company has entiuement to the income, rt is probable that the incorne will be recEived arKI the amcmjnt ol income receivable Can be measured reliably. Grants are included in the Slalemenl of Financial Activities on a receivable basis. The balance of income re¢eived for swific purposes bul not expended duriThJ Ihe period is shown in the relevant ftjnds on the Balan¢e Sheet. Where income Trs received in advance of entitlement of receipt, its recognition is deferred and in¢lude(J in creditors as defeffe(l income. Where entidement occurs before income is received, Ihe income is a¢¢wed. Where the donated gLk)d is a fixed asset. it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is iecognised as income from donations and a corresponding amount is included in the appropriate fixed asset dass and depre¢ialed over the useful economic life in accordan￿ with the Companls accounting wlicies. On receipt. donated professional seNces and facilities are reG(xJnised on the basis of the value of the gift to the Company which is the amount li would have been wlling lo pay to obtain services or facilities of equivaleTrl economic benefrt on the open markel,. a corresponding amount is then re¢ognised in expendrture in the period of receipt. Olher income is recogntsed in the period in whith il is receivable a￿1 to the extent the goods have been provided or on completion of the service. Page 12 GALLOWAY COMMUNITY TRANSPORT SCIO {A Scottish Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies Icontinuedl 2.4 Expenditure Expenditure is rec(yJnised once there is a legal or constnjcttve obligation lo transfer economic benefit lo a third party. 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 clasSi￿d by actiwty. The costs of eath activity are made up of the total of direct costs and shared costs. induding support costs involved in undertaking each actiwty. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribule to more than one acbvity and support Costs which are not attributable to a single activity are apportioned between those 8clivities on a bas$5 consi51enl with the use of resour￿. Central staff costs are alkKale(l on the basis of time spent, and depre¢i8tion charges allocated on the Wrtion of the asset's Use. Expenditure on th81ttable 8ctsvibes is in¢urYed on directy undertaking the actiwties which further the Companls objectives. as wdl as any associated support costs. l expendiiure is indusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds heFd on dewjsit is inctl￿ed when receivable and the amount Can be measured reliably by the Company. this È5 nomi8lly upon nottfi¢ation of the interest paid or payable by the institution wth whom the fuNts are dewsited. 2.6 Tangible fixed assets and dèpreclatlon Tangible fixed assets costing £5C4) or more are capitalwj and reccKJnised when future economic beneffts are probable and the cost or value of the asset Can be meaSU￿d reliably. T8ngilJe fixed 8ssels are inilially re¢(xJnised at cost. After recogniti¢M, under the cost Model, tangible fixed assets are measured al cost less accumulated depreaation and any accumulated impairment k)sses. All ¢osts incurred to bring a tangible fLxed asset into its intended working condition should be included in the Measu￿Ment of cosL Depreuatior+ is charged so as to allocate the cost of tangible fixed as5els less their residual value over their estimated useful lives. using Ihe strdigh14ine method. Depreciat￿Tr is provided on the folknwing ba5iS'. Plant and machinery Molor vehides offi￿ equipment 25% straight line 20% reductrKJ balance 25% straight line 17 Dgbtors Trade and other debtc￿S are recoJnised al the setuemenl am¢xJnl 8fter 8ny trade discount offered. Prepay7nents are valued at the amount prepaid net of any trade di$￿Unts due. 18 Cash at bank and in hand Cash at bank and in hand indudes cash aThJ short-tetm highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or simtlar a¢counL Page 13 GALLOWAY COMMUNrrY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies Icontinuedl 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheel dale as a result of a past event, it Is probable that a transfer of economic benefit will be required in setuemenl, and the amount of the settlement can be estsmated reliaL4y. Liabilities are rec¢yJnised at the amount that the Company anticipates it will pay lo settle the debt or the amount it has received as advanced payTnents for the wds or seN￿S il musl provide. Provisions are measured at the best ests.male of the amounts required lo settle the obligation. Where the effect of the time value of money ts material. the provision is based on the present value of those amounts. discounted at Ihe p￿taX discount rate that rÈfle¢ts the risks specific to the liability. The unwinding of the discounl is recognised in the Statement of Financial A¢tivilies as a finance cost. 2.10 Financial instruments The Company only has finanaal assets and finartcial liabilities of a kind thal qualify as basic financial instruments. Basic financial insl¥uments a￿ initially recognised al transaction value and subsequently measured at their settlement value with Ihe exception of bank loans which are subsequently measured at amortised cost using the effe¢tsve interest method. 2.11 Fund accounting Gerteral fvnds are unrestricted funds which are availatAe for use at the discretion of the Trustees in furtherance of the general objeclNes of the Company and which have not been designated for other purposes. Designated funds comprise ￿n￿$t￿cted funds that have been set 8side by the Trustees for particulaT purwses. The aim and use of each designated fund is sel out in the notes to the financial statements. Reslricled funds are funds which are to be used in accordance with specific restrictions imposed by donors or byhich have raised by the Company for particular purposes. The costs of raising and administering suGh fund5 are charged against the S￿fiC fund. The aim and use of each festricted fund is set out in the r￿te$ lo the financk41 statements. Inveslment income. gairks and losses are alkKated to the appropriate fund. Income from donations and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Donations Grants 77,589 25,500 301 77.890 25,500 103,089 301 103.390 Page 14 GALLOWAY COMMUNrrY TRANSPORT SCIO IA Scottish Charitablè Incorporated Oryanisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from donations and legacies (continued) Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Donations Grants 285 10 295 245,399 245.399 245,684 10 245,694 Grant income indudes £230.CIX) awarded from the Energy S8￿ng$ Trust for the purchase of an electric bus. Income from charitsbk a¢tivities Restricted Unrestricted funds funds 2024 2024 Totsl funds 2024 Patient traftsport Communty transport E-bike income 9.135 9,135 164.203 529 164,203 529 9,135 164,732 173.867 Restricted Unrestricled funds funds 2023 2023 Tdal filnds 2023 Patient transport Community transport E-bike income 9,623 9.623 125,835 ITO 125,835 1TO 9,623 126,005 135,628 Pagg 15 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDED 31 AUGUST 2024 Invèstment income iinr851ri￿eO fund$ 2024 funds 2024 funds 2023 Bank interest received 165 165 Analysis of expendlture by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Patient transport Community transwl 6.167 180.822 6,167 205.059 24,237 186.989 24,237 211,226 A¢lwilies undertaken directly 2023 Support costs 2023 Total funds 2023 Patient transport Community transport 7,058 125.567 7,058 144,986 19.419 132,625 19.419 152,044 Page 16 GALLOWAY COMMUNrrY TRANSPORT SCIO IA Scottish Charitsble Incorporat￿ Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure by activities Icontinuedl Analysis of direct costs Pati•nt Community transport transport 2024 2024 Total funds 2024 Depreciatron Recharged wages Travelling expenses 8u5 running costs Self employed driver ¢osts 51.795 42,595 51.795 42,595 6.187 26,099 60.333 6,167 26.099 60.333 6.167 180.822 186,989 Patient Community transport transport 2023 2023 Total funds 2023 Depreciation Recharged wages Travelling expenses Bus running costs Self employed driver wsts 5,852 38.204 5.852 38,204 7,058 28,207 53,304 7.058 28.207 53,304 T,058 125,567 132,625 Analysi$ of support ¢osts Community transport 2024 Totsl funds 2024 Professional fees Advertising Office costs 2.166 1,648 15.758 150 2,166 1,648 15.758 150 Bank charges Sundry and training costs 4.515 4,515 24,237 24,237 Page 17 GALLOWAY COMMUNrrY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure by activitrès Icontinuedl Analysis of support costs Icontinuèdl Community transport 2023 Total fvnds 2023 Professional fees Advertising Office costs 3,034 1.009 8,341 953 6,082 3.034 7,009 8,341 953 6,082 Bank charges Sundry and training costs 19,419 19,419 Independent examinerfs remuneratlon 2024 2023 Fees payable to the Companls inde￿ndent exafftiner for the independent examination of the Companls annual a¢counts Fees payable lo the Companys independent examiner in respect of: All taxation advisory services not inclLHled atrM)ve All assurance serwces not included al)ove 1,850 1,900 250 345 345 Trustees. remuneration and expense$ During the year, no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 August 2024. no Trustee expenses have been incurred (2023- £NIL). Page 18 GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitable Incorporated Organisationl NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Tangible fixed a55ets Plant and machinery Motor vehicles Office equipment Total Cost or valuation Al 1 September 2023 Additions 5.952 16.377 330,593 1.070 23,399 330,593 Al 31 August 2024 5,952 346,970 1.070 353.992 Depreciation Al 1 September 2023 Charge for the year 4.465 1.485 12.270 50.IH2 268 268 17.003 51,795 At 31 August 2024 5,950 62,312 536 68,798 Nèt book valua At 31 August 2024 284,658 534 285,194 At 31 August 2023 1.487 4,t07 802 6,396 10. Debtors 2024 2023 Trade debtors 575 193,864 Amounts owed by groLEP undertakings VAT repayable Prepayments and 8¢¢rued in¢une 1.215 117 2.3TT 234,581 4.284 428.445 Page 19 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Oryanisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 11. Creditors- Amounts falling duè within one year 2024 2023 Trade Creditors Amounts owed lo group undertakings Other taxation and s￿￿?1 security Accruals and deferreil in(x)me 179, 765 3.601 7,581 2,372 1.850 1,B50 192, 719 Page 20 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitablè Incorporatad Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12. Statement of funds statement of funds- current year Balance at 1 Septsmber 2023 Balance at 31 August 2024 Transfers inlout In¢ome Ex￿ndItUre Unrastrlcted funds Designated funds Capitsl as5el furKI 144,5691 320.418 275,849 General funds General Funds 43,222 165,198 (147,990} 5,085 65,515 Total Unrestri¢ted fund$ 43.222 165,198 1192.559} 325.503 341,364 Restricted funds Cycle Scouand Energy Savings Trust Patient Trdnsw)rt Service Blackcraig Minibus 5,085 230,000 15.357 15,085} 1230,0001 9.306 12.500 90,418 (6.16n (12,500) 18,496 190.418} 250.442 112.224 118.667) 1325,S031 18,496 Total of funds 293,664 277.422 {211.2261 359,860 The c￿le Scotland funds are for an eBike scheme which was launched in May 2021. The project 18 complete and the transfer Tepresents admin costs bome by the charity. The Patient Transport ser¥￿e fund 15 for furvjs ring-fenced to provide a community patient transw)rt project. The grant awarded from the Energy Savings Tmst was to purchase an electric minibus which has been ordered during kne year and was delivered in October 2023. The purchase of the minibus fuifiled the restri¢tion therefo￿ Ihis has been transferred to a designated ca￿] asset fund where the depreciation will be applied against each year. The Blackcra¢g funding was receNed to cover wages costs. The Minibus fund represents anonymous (lonations. as well as grants re￿iVed from Garfeld Weston. The James T Howat Fund and the Robertson Trust as corstributions towards the purchase of new minibuses. The purchase of the minibus fulfiled the restriction therefore this has been transferred to a designated capital asset fund where the depreciation will be applied against each year. Page 21 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organi5ationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12. Statement of funds Icontinuedl statement of funds - prior yèar Balan￿ al 1 Sepfember 2022 Balance at 31 August 2023 Income Expenditure Unrestricted funds General Funds 49.693 126.015 (132.486) 43,222 Rgstrfcted funds Cycle Scotland Energy Savings Trust Patient TransFx)rt Servi Black¢raig 3.686 5,085 230,000 15.357 230.000 11.408 12,500 11.(K17 (7.058) (12.500J 14.693 255,307 (19,558J 250,442 Total of funds 64,386 381.322 (152,044) 293,664 Page 22 GALLOWAY COMMUNrrf TRANSPORT SCIO IA Scottish Charitable Incorporated Oryanisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGLIST 2024 13. Summary offunds Summary of funds - current year Balance at I Septernber 2023 Balance at 31 August 2024 Transfers inlout In¢ome Expenditure Designated funds General funds 144,5691 1147.9901 118.6671 320.418 5,085 {325,5031 275,849 65,515 18,496 43,222 250.442 165,198 112.224 Restricted funds 293.664 277.422 1211,2261 359,860 Summary of funds - prior year Balance ar I September 2022 Balance at 31 August 2023 Income Expenditure General funds Restricted funds 49.693 14.693 126,015 255,307 (132,486) (19,558) 43,222 250,442 64.386 381.322 (152,044) 293,664 14. Anatysis of net assets between funds Analysis ol net assets between funds - current period R¢stri¢ted Unrestricted funds fund$ 2024 2024 Total funds 2024 Tangible fixed as5els Current assets Creditors due within one year 285,194 $8,020 {1,8501 285,194 76,516 11,8501 18.496 Total 18,496 341,364 359,860 Page 23 GALLOWAY COMMUNITY TRANSPORT SCIO IA Scott15h Charitable Incorporated Organisation} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 14. Analysis of nel assets bètween funds Icontinuedl Analysis of nel assets between funds - prior pèriod RestrKted Unrestricted funds funds 2023 2023 Total fvnds 2023 Tangible fixed assets Current assets Creditors due wlhin one year 6,396 57,690 (14,864) 6,396 479,987 (192, T19) 428,297 {t77,855J Total 250.442 43,222 293,664 15. Capital commitments 2024 2023 Contra¢ted for but not provided in these financial ststements Acquisition of tangible fLxed assets 177,855 16. Members. Ilablllty Each member of the charitable company undertxkes to contrbule to the assets of the company in the event of it being wound up while helshe is a meM￿r. or within one year after helshe ceases to be a member, such 8mount as may be required. not exceeding £1 for the debts an¢J liabilities wntracled before helshe ¢eases lo be a member. 17. Related party transactions Due to the ck)se connectivtty beiween the entities, the charity has 0￿rated an inler-charity loan account with GCAT. Day lo day staff and rnanagemenl servtrces have also been provrded by GCAT. Al the perDd end date £1.215 Is ¢)wed by GCAT and is included in debtors 12023 - £3,601 owed lo GCAT and is include(l in credttorsl. 18. Controlling party The Glenkens Community & Arts Trust IGCAT), a charity registered in Scotland under number SC032050 and a company registered at Companies House under number SC222083. is considered lo be the ¢ontrolling party due to the strong operational links and the control exerc%sed by the Board who are also Truslees of trx)th entities. Page 24