Charity number: SC049421 GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitable Incorporated Organisation) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Armstrongwatson. Accovntants, Business & Financial Advisers
GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitablè Incorporatèd Organisationl CONTENTS Page Referen¢e and Administrative Details of the Charity. its Trustees and Advisers Trustees. Report TTUStees' Responsibilities Statement Independent Examlner's Report Statement of Financial Adivtties Balanc8 Sheat 10 Notes to the Financial Ststements 11-24
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisation) REFERENCE AND ADMINISTRATIVE DAlLs OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Trustees T Threadgall PNFryer F Coupar P Lean A Eirington J CrcKJks P Bowes Is1gned 10 December 20241 S Hart {aprK)inted 24 February 20251 C Bemhardt (appointed 24 Febwary 2025} Charlty reglstered number SC049421 Registered office Catslrand High Street New Galloway Casue Douglas DG7 3RN Accountants Armstrong Watson LLP 51 Rae Street Dumfries DG1 1JD Page 1
GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitable Incoorated Organisation) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Truoiees presenl Iheir annual report together with ihe iinancial statements ol the Charily lor the year 1 September 2024 10 31 Avgusl 2025. The Annual Report serves the purposes of both a Trustees, report and a directors, report under charity law. Th• Trustee5 confiTW. tet the Annual Report ane finaD.cj2! xt1':w..nts of Ile chai"iiaole ionip¢liy conip5y witn Ine curreni staiuiory requiremenis, Ine requirenienls ol the charitable company's governino aOCLJmeni ano Ine provisions ot the statemp.nl nf Rp.r.nmme.nded practi ISORPI applicablb to charities pparing their accounts in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS102) {effecbve 1 January 2019}. Objectives and actlvltles a. Pollcies and objectlves 1. The advanment of citizenship and C(Munity development (including rural or urban regeneralionl. 2. The relief of those in need by reason of age, ill-healih. disability. financial hardship. rural isoiation or other disadvantsge. b. Activities undertaken to achleve objectives The provision of a range of community transwrt seNces. faciliknes and resi)urces. c. Main activities undertaken to further the Charitys purposes for the public benefit Th8 provision of a range of communtytranspy)rt seNces. facilities and resources. Achievements and perforniance a. Review of activitie5 2024-2025 was a very posittve year for GCT in a challenging environment. We made concrete progress towards our charitable purwJse5 of.. The advancement of citizenship and communty development {including rural or urban regeneration). The relief of people in need by reason of age. ill-health, disability, financial hardship, rural isolation or other disadvantage. We do this through our work delivering community transkxlrt around the Glenkens and beyond. A summary of our achievements and challenges follows. 1) Flnances GCT remains a wholty owned subsidiary SCIO of GCAT. and as such we tM)th publish our a¢¢ounts individually and have them consolidated wthin those of GCAT. Despite Ihe challenging financial climate. we have had a very sucSsful year. We made an operational surplus of £15,046 . bul this was negated by the depreciation of our newer buses at £57,209, resulting in an aCUnting loss of £42.163. Despite this, the operational model rernains sound as we look forward. The 'Deblors' at year end were higher than last yEars - thts was largely due to one un-paid invoice which has now been settled. Page 2
GALLOWAY COMMUNITY TRANSPORT SCIO {A Scottish Charitable Incorporated Organi$ation} TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and p8rforniance (contlnuedl 21 Fleet Renewal Whilst there were no vehicles replaced in this current financial year, we have still made savings by operating the 2 x newer diesel vehicles which were obtsird during 2023-2024. These 2 vehicies have had lower operating costs, due both to lower maintenance requirements and improved fuel efficiency. We anticipate the savings made in 2025-2026 wÉll be even greater. Many thanks to all our funders and SUPtx)rters who have helped us to make this step-thange in our C02 emissions, maintenance costs and quality of seNice. 3) Fundlng We were Suc$$fUl in oblaining £5.000 from Dumfries arwj Galloway Council's'Regionwide Communilies Fund,. which contributed to our core costs and is much appreciated. 4} Staffing In January 2025, we created the role of GCT Finance Assistsnt in order to streamline the role of GCT Manager.11 was decided by the GCAT 2nd GCT Boards that the role of GCT Finan Assistant would be Caled out by the GCAT Business Support Assistsnt. in order lo enhance the interfaces between the two organisations. Andrea Smith was therefore apiTrted the GCT Finance Assistant. which has freed up more tirne for the GCT Mana9er. Jon Betts, and the GCT Operations Coordinator, Jason Wilding, lo focus on modemisation. fleet renewal, funding bS and operational duties. We have recruited 2 new freelance minibus drivers and an additional 2 new volunteer Patient Transport drivers, all of whom are already making a Wdluabje contnbution to our communty efforts. We are therefore now in a strong posttion in temis of workload management and tssk allocation. whieh is helping to deliver our operations greater efficiency. 5) Operatlons Our current fleet stsnds at: 16-seal diesel minibus, wth wheelchair lrft 16-seal electric minibus 16-seal diesel minicoach 15-seal diesel minibus Iv4heel¢hair acossible) 8-sealer diesel minibus 4-seateT electric car (wheelchair accessible) Page 3
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Char4tabSe Incorporated Organisationl TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and performance Icontinuedl In-year developmenls School Transport- We have successfully re-negolialed and secured D&G Council service contracts for school year 2024-2025. thus ensuriNJ we can continue to supwrt our Glenkens y)ung people with personalised sehool transport solutions. Regular $ervl¢es: We continue lo run our registered 517 seNce in Kithcudbright, plus a regular Wednesday serviee to Casue Douglas Tesco / Aidi. In Ihe 5-yearly Bus NeOrk Review led by DG Council and SWESTrans, we did lose the Bridge of Deelcasue Douglas Schools service, which will impact our income from August 2025 onwards but we expect this wll be mitigated by other quick contracts. Mernbership Hires: Our fleet is available for booking by GCT members. either with or without a GCT driver. This Service is proving more and MO tx)pular. so b(N)k eart- Patient Transport: This semce is provided by volunieer drivers who use their ovm vehicles to take patients lo h05pilal apFX)inlments, wlh their mileage being reimbursed. 11 is an invaluable resource for many people in the Glenkens, and more dTÈvers are aNvayE very welcome. This ser is supported by funding from the Poverty and Inequalities Fund, through Third Sector Dumfries and Galloway ITSDGI. The dernand on this Servi remains high. bul we ntinue to work with the Scottish Ambulance Service to agree upon a level of service that allows us to 0rate effectively and within capacity. Excursions: We ran 8 excursions to various gardens and the Creative Craft Show in Glasgow, all of which were sold out. We are already planning the 2026 schedule based on the feedback from our valued service users. We were also pleased to provide a bus Serv for Spring Fling 2025, which went very well. Process upgrade$: We have consolidated a new dectronic vehide check system for drivers. using a smartphone app. which has been well received by our drivers. We have developed oui Facebook page to expand our communications reach. 61 Strategic Work We continue to represent the Glenkens at the region81 Community TransFx)rt Nerk meetings. and are working with Third Seclor Dumfries and Gallowdy as they seek to create their model for region-wide coverage of community transport. Gallowdy Community Transport remains one of the 9old-standard Community Transport Organisations in the regi. and we are delighted to work wiEh our peers to share learnings and support each other. We are also Working wtth Dumfrles and Galloway Council Transport department to identify opportunities where we can provide soiulions to the challeThJes of implementing the Regional Transport Strategy in remole-rural areas like the Glenkens. We offer a strong base from wthich lo pilot innovative solutions. and look forward to continuing this work. We are also represented on the SoLrth of Scoyand Regional Economic Partnership 'Slrategic Acton Group - Tr8nsport' through Helen Keron. GCAT Chief Exe¢ulive. In this roje. she advocates for remole-rural transport challenges lo be addressed at a s(th of Scotland level through national partnerships and SLTrPPOrt. b. Investment policy and perfom)ance The charity does not hold any irwestments other than cash at bank held wth a commerck41 high street bank. Page 4
GALLOWAY COMMUNITY TRANSPORT SCIO (A Seottlsh Charitable In¢orporated Organi&ion) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Financial review a. Going eoncern After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason. they continue lo adopt the going concem basis in preparin9 the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy In the Trustees, view, the SeTVeS should provide the charity with adequate financial stsbility and the means for it lo rneel its charitable objectives for the foreseeable fLrture. The Trustees manage GCT reserves in line the GCAT ReseNes Policy. and the GCT reserves are included in the sum stated in the consolidated accounts. Consolidated accounts for GCAT (The Glenkens Community and Arts Trust, company number SC222083} are publicty available and can be obtained from Companies House. Structure. govemance and management a. Constitution Galloway Community Transport SCIO, which is a rewgnised charity in Scoll8nd. is registered as a Scottish Charitable Incorporated Organisalion and was set up by a Memorandum of Association on 28 June 2019. The principal object of the charity is to provide a range of transwrt seNces for the benefit of the community. b. Methods of appolntment or election of Trustees The management of the Charity is the $K)nSIbIl of ihe Trustees who are elected and co-opled under the terms of the Trust deed. and who are also always Directr)rs of the Board of GCAT. . Organisational Structure and declsionrymaking policies The GCT Manager rnakes decisions regarding day-to4ay operations and advises on strategic planning. The Manager reports to the GCAT Chief Executive and is supported by the GCT sub-committee, which has membership drawn from volunteer drivers, Ihe wder Community and a GCAT Director. The GCT sutxommittee reports to the GCAT Board al each Board meeting wa that GCAT Director. d. Related party relationships The charity has an operational arrangement The Glenkens Community and Arts Trust Limited IGCATI to provide staff and management SeNs. Galloway Communty TrdnSPX)rt is a separate SCIO wth all of the Directors of GCAT also being TTuslees of Galk)way Community TranspcKt. The relationship between GCAT and GCT is fomialised a Mernorandum of Understsrding which is reviewed annually by the GCAT Board. Page 5
GALLOWAY COMMUNITY TRANSPORT SCIO {A Scottish Charitable Incorporated Organisationl TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Plans for future periods 'We are working with D&G Council Transport depl to see how we can continue to supoort the Regional Transport Stralegy. We are planning a joint bid to the 'People and Places. Scotbsh Govemmenl fund, for an ambitious expansion of our servi, in partnership with Wigtownshire Community Transport and Annandale & Eskdale Community Transport. We are being supported by TSDG in this wcKk. and if it is successful. should result in a step-change in our delivery trom April 2026. We have applied to the Plugged In CommunitFes fund for rn0 electric buses, in line with our fleet decarbonisalion aspirations, plus a charger for GCT vehides lo be sited al the Catstrand in New GallDway. In appreciation A sincere thank you to all our volunteer drivers. both for buses and patient transport- we simply cannot function wthout your dedication, flexibility and supwrt. Thanks also to our dedicaled GCT Sub-committee volunteers who provide detailed strategic oversight. operatiorbal support and financial guitJan¢e on behalf of the GCAT Board. Thank you to the GCT staff. Jon. Jason and Andrea. work above and beyond to support the people of the Glenkens with their transport needs. Thank you as well to the Leadership and Business Support teams in GCAT. who provide strategic guidartce, line m8n8gement. financial SLSPPOrt and office space. Thank you to the Maxwelts who continue to all(Y•V US to park our vehides in their bam - it is very much appreciated. And lastly, thank you to all the LEsers of Galloway Community Transport, from our regular passengers to the minibus hires to the young people we lake to school - we hope we've been of service and we hope lo see you next year! Approved by order of the members ol the board of Trustees and signed on their behalf by.. PNFryer Trustee Dale.. io Page 6
GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitable Incorporated Oryanisationl STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and Untled Kingdom Accounting Standards (United lfjngdom Generally Accepted Aco)unling Praclicel. Charity law requires the Trustees lo prepare financial ststements for each financial year. Under charity law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stsle of affairs of the Charity an¢J of its in¢oming resources and application of resources. including its income and exponditurc, foi that period. In preparing these finanaal statements. tha Trustees are required to.. select suitable accounling policies and then apply them consistenuy, obsetve the methods and principles of the Charibes SORP IFRS 1021.. make judgments and accounting estimates that are reasor)able and prudent," slate whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial ststements", prepare the financial ststements on the going ¢x)ncem basis unless il is inappropriate to presume that the Charity will continue in busines5. The Trustees are responsible for keeping adequate acoxjunting records that are sufficient to show and explain the Charivs transactions and disclose with reasonable accuracy at any bme the financial position of the Charity and enable them to ensure that the financial ststements comply wth the Charities and Trustee Inveslrnenl IScotl8ndl Act 2005 and the Charities AccoLFnts IScolland} Regulations 2(X)6 las amended). They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and deledion of fraud and other irregulartb"es. Approved by order of the members of the board of Trustees ar signed on its behalf by. PNFryer Trustee Dale.. l o ?[0 Page 7
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporalèd Organisationl INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Independent Examiner's Report to the Trustees of Galloway Community Transport scio I reporl on the accounts ol ihe char1ty lor the year ended 31 Augusi 2025 which are set out on pages 9 to 24. R8spe¢live ResE>onsibilities of Trustee$ and Examiner The trustees are responsible for the preparation of the financrdl statements in accordance with the terms of the Charities and Trustee Invesknenl (Scollandl Act 2005 1.the Act'} and the Charities Accounts (Scollandl Regulation 2006 I'lhe Accounts Regulations')- The trustees consider that the audit requirement of Regulation 10{1llal to Icl of the Accounts Regulations does nol apply. 11 is my re5wnsibility to examine the financial statements as required under section 44(11{cl of the Act and to stale whether particular matters have come to my attention. Basls of Independent Examinerfs Statement My examination was carried out in accordance wilh regulan 11 of the Accovnls Regulations. An examination includes a review of the accounbn9 reconls kept by the charity and a comparison of the financial ststements presented wilh those records. 11 also includes consideration of any unusual items or disclosures in the financial stslemenls. and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be requifed in an audit. and consequenuy I do not express an audit opinion on the view given by the accounts. Independent Examlner's Ststement In the course of my examinatÉon, no matter has come to my attention: which gives me reasonable cause to bdieve that in any material respect the requirements.. lo keep accounting records in accordance with section 44(11{al of the Act and regulation 4 of the Accounts Regulations." and lo prepare financial statements whith accord with the accounting rewrds, Accounting and Reporting by Charities preparing their accoun15 in accordance with the Financial Reporting Standard iri the UK and Republic of Ireland IFRS 102} and in other respects comply with gulatIon 8 of the Accounts Regulations have not been mel., or to which. in my opinion, attenn should be drawn in order to enable proper understanding of the financial ststements to be reached. This report is made solely lo the charilvs Trustees, as a b[y. in accordance wth regulation 11 of the Charities Accounts IScolland} Regulations 2006. My work has been undertaken so that I might stale lo the charity's Trustees those matters l am reqUId lo slate to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law. l ¢kJ not accept or assume responsibility lo anyone other than the charity and the charivs Trustees as a bo(ly. for my work or for this report. Signed." Dated: 140 rfbch w21 Karen Rae FCCA DChA Amistrong Watson LLP, 51 Rae Street. Dumfries. DG1 1JD Page 8
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charptable Incorporated Organtsation) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE Y&4R ENDED 31 AUGUST 2025 Restricted Unrestricted fund$ funds 2025 2025 Total funds 2025 Tot81 funds 2024 Nots Income from: Donations and legacies Charitable activities 5.501 166.944 714 5.501 185.674 714 103,390 173,867 165 18.730 Investments Total income 18.730 173.159 191.889 277,422 Expendlture on: Charitable activities 9,986 224,066 234.052 211.226 Total expenditure 9,986 224.066 234,052 211.226 Net movement in funds 8.744 150.90n {42,1631 66, 196 Reconciliation of funds- Total funds brought forward Net movement in funds 18.496 8.744 341.364 {50.90n 359,860 (42,1631 293.664 66.196 Total funds carrfed forward 27.240 290.457 317.697 359,860 The Statement of Financial Actiwties indudes all gains and losses recognised in the year. The notes on pages 11 to 24 form part of these financial statements. Page 9
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitabla Incorporated Organisationl REGISTEREO NUMBER: BALANCE SHEET AS AT 31 AUGUST 2025 2025 Flxed assets Tangible assets 227.985 285, 994 227.985 285,194 Current assets Debtors Cash at bank and in hand 10 13.219 79.284 4,284 72.232 92.503 76.516 Creditors-. amounts falliThJ due within one year 11 {2.7911 (1.850) Not currant assets 89.712 74,666 Total nat assats 317.697 359.860 Charity funds Restricted funds Unrestricted funds 12 27.240 290,457 18,496 341,364 12 Total funds 317.697 359,860 The financial statements were approved and authorised for issue by the Twstees and signed on their behalf by. PNFryer Trustee Dale.. 10 Z)L The notes on pages 11 to 24 form part of these fina181 ststements. Page 10
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable In¢ory)orat8d Organisation) NOTES TO THE FINANCEAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 General information Galloway Community Transport is a Scoth"sh Charitable Incorpordted Organisation registered with OSCR. GCT is SCIO wlh strong operational links and common Tnjslees wlh The Glenkens Community and Arts Trust. The gIStered address and prinrypal of IsInesS is The Calstrand, Hh Street, New Galloway, DG7 3RN. Accountlng poll¢les 2.1 Basis of preparation of financial slatements The financial statements have been prepared in accordance with the Charrties SORP {FRS 1021- Accounting and Reporting by Charities= Stalemenl of Recommended Practice applicable lo ch2rilies preparing their accounts in accordance the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)- Galloway Community TransFKJrt SCIO meets the definib.on of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical Cost or transaction value unless otheThwse stated in the relevant accounting wlicy. 2.2 Going concem The Trustees have reviewed the coming 12 months from September 2025 to August 2026 in their Going Concem assessment, induding various scenarios such as the shortage of an available vehicle or suitable drivers as well as a toss of funding and they are confident that through the sUC$Sful maintenance of core contracts, accessing a national support scheme and prudent planning, they have suffictenl resources available to meet their needs for a period beyond 12 months from the point of 5ignillg. Page11
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitablè Incorporated Organisationl NOTES TO THE FINANCIAL S I ATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies (continued) 2.3 Income All income is recognised once Ihe Charity has entiuement lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Ststement of Financial Activities on a receivable basis. The balance of income received for spectfic purposes bul not expended during the period is shown in the relevant funds on the Balance Sheet. Where inci)me 15 received in advance of entidement of receipt, its recognition is defed and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Where the donated gcth is a fixed asset. il is measured at fair value, unless il is impractical lo measure this reliably, in which case the cost of the item to Ihe donor should be used. The gain is recognised as income Irom donations and 8 corresponding amount is included in the appropriate fixed asset class and deFveciated over the useful economic life in accx)rdance with the Charity's accounting policies. On receipt. donated professional serwces and facililies are recognised on the basis of the value of the gtft to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open mathet- a corresponding amount is then recognised in expenditure in the period of receipt. Income tsx recoverale in relation to invesknent income is recognised at the time the investment income is receivable. Other income is recconised in the period in which tt is receivable and to the extent the goods have been provKled or on completion of the service. 2.4 Expenditure Expènditure is recognised On there is a legal or (yjnstructive obligation to transfer economic benefit to a third paty, il ss probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured rdiabty. Expenditure is classified by aclivily. The costs of each activity are made yp of the totsl of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to 8 single activity are allocated directly to that activity. Shared costs which ntribUte to more than one activity and support Costs which a rt attributable to a single acliwty are apportioned bewn those activities on a basis consislenl with the use of reSoUs. Central staff costs are allted on the basis of time spent. and depreciation charges allocated on the FKJrbon of the asset's use. Expenditure on charitable aCtitieS is incurred on directly undertaking the activibes which further the ChariVs objectives, as well as any associated support costs. Al expenditure is indusive of irrec4)verable VAT. 2.5 Interest receivable Interest on funds held on derK)sit is included when receivable and the amount can be measured reliably by the Charity, this is nom)alty upon notification of the interest paid or payable by the institution bwth whom the funds are deposited. Page 12
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitsble In¢orporated Organlsatlon) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policies Icontinued) 2.6 Tangible fixed assets and depreciation Tangible fixed assets cosling or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are inttially recognised at cost. After recognition, under the cost model, tsngible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losse5. Al costs incuried lo bring a tangible fixed asset into its intended working condition should be induded in the measurement of cost Depreuation is charged so as to allocate the cost of tangibje fixed assets less their residual value over their esbmated useful INes, using the str84ght-line method. Deprlation is piowded on the following basis: Plant and machinery Motor vehicles offi equipment 25% straight line 20% reducing balance 25% straight line 2.7 Debtors Trade and other debtors are recc¥Jnised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash al bank and in hand includes cash and short-tem) highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Liabilitie5 and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, il is probable that a Iransfer of economic benefit will be required in settlement. and the amount of the sewement can be estimaled reliably. LIabilitS are recognised at the amount that Ihe Charity anb¢Épates it will pay to settle the debt or the amount il has received as advanced payments for the goods or services tt musl provide. Provisions are measured at the best estimate of the amounts required to settle the obligats'on. Where the effect of the time value of money i8 material. the provision is based on the present value of those amounts, discounted at the pre-tsx discount rale that reflects the risks specific to the liability. The unwnding of the dIOunt is recL*Jni5ed in the Statement of Financial ACINe$ as a finance cost. 2.10 Flnanclal Instruments The Chaiity only has financial assets and financial liabilities of a kind that qualfy as basic financial inslrumenls. Basic financial inslrumer5ts are iniknally recognised al tr8n5aclion value an($ subsequently measured at their settjemenl value with the exption of bank loans which are subsequenuy measured at amorbsed cost using the effective interest method. Page 13
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDED 31 AUGUST 2025 Accounting policies (Gontinuedl 2.11 Fund accounting General funds are unrestricted funds which are availaNe for use al the discretion of the Trustees in rther8n irf the general obiectbves of the Charity and wthich have not designated for other purposes. Designated fvnds comprise unrestricted ndS that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes to the financial ststements. Reslri¢led funds are funds which are to be used in accordance specrfic restrictions imposed by donors or which have been raised by the Charity for parbcular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set CNJt in the notes lo the financial slatements. Investment income. gains and losses are alk)caled lo the appropriate fund. Income from donations and legacies Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Donations Grants 5.500 5.500 5.501 5,501 Restncted Unrestricted funds funds 2024 2024 Total funds 2024 Donations Grants 77,589 25.500 301 T7.890 25.500 103.089 301 103,390 Page 14
GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitsble Incorporated Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from charitsble activlties Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Patient transport Communty transport E-bike income 18,730 18,730 166,594 350 166,594 350 18,730 166.944 185,674 Restricted un$t[leted funds funds 2024 2024 Total funds 2024 Patient transport Community transport E-bike income 9.735 9. 135 164,203 529 164,203 529 9.135 164, 732 173,867 Investrnent income Unrestricted funds 2025 Total funds 2025 Bank interest received 714 714 Unresthcted funds 2024 Total funds 2024 Bank int&$t received 165 165 Page 15
GALLOWAY COMMUNITY TRANSPORT SCIO IA SGottish Charitable Incorporatad Organisation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysss of expenditure by activities Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Patient transport Community transport 9,986 194,884 9.986 224.066 29.182 204,870 29,182 234.052 AGINeS undertaken directly 2024 Support costs 2024 Total fvnds 2024 Patient transp)rt Communitytransport 6,167 180.822 6.167 205,059 24.237 186,989 24.237 211.226 Analysis of direct sts Patient Communlty transport transport 2025 2025 Total funds 2025 Depreciation Recharged wages Travelling expenses Bus running costs Self employed driver costs 57,209 47,448 57,209 47,448 9,986 24,523 65,704 9.986 24.523 65,704 9,986 194,884 204,870 Page 16
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of expenditure by actlvlties {continued) Analysis of direct costs Icontinuedl Patient Community transport transport 2024 2024 Total funds 2024 Depreciation Recharged wages Travelling expenses Bus running costs Self employed driver costs 51,795 42.595 51,795 42,595 6,167 26,099 60,333 6,167 26.099 60,333 6.167 180,822 186,989 Analysis of support costs Community transport 2025 Total funds 2025 Professional fees Advertising offi costs 5,239 1,260 19.761 487 2,435 5,239 1,260 19,761 487 2,435 Bank charges Sundry and training costs 29,182 29,182 Community tTrnsport 2024 Total funds 2024 Professional fees Advertising Office costs Bank charges Sundry and training costs 2,166 1,648 15,758 150 4.515 2. 166 1,648 15,758 150 4.575 24,237 24.237 Page 17
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl NOTES TO THE FINthCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Independent examinerfs remuneration 2025 ?n24 Fees payable to the Charitys indepermlent examiner for the independent examination of the Charitys annual accounts Fees payable to the Charitys indeperTrdent examiner in respect OP All assurance ServIS not induded atove 2.000 1.850 345 Trustees. rèmuneration and expenses During the year. no Trustees received any remunerati or other benefits (2024- £NIL). During the year ended 31 August 2025. no TTUStee expenses have b8en incurred (2024- £NIL). Page 18
GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitable In¢orporated Organlsatlon) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Tangible fixed assets Plant and machinery Motor vehicles Office equlpment Total Cost or valuation At 1 September 2024 5.952 346,970 1,070 353,992 At 31 August 2025 5,952 346,970 1,070 353,992 Deprgciation At 1 September 2024 Charge for the year 5.950 62,312 56,941 536 68,798 57,209 At 31 August 2025 5,950 119.253 804 126,007 Net book valuè At 31 August 2025 227.717 266 227.985 At 31 August 2024 284,658 534 285. 194 10. Dobtors 2025 2024 Trade debtors Amounts owed by grcmjp undertakings VAT repayable Prepayments and accnJed income 7,518 3,961 36 1.704 575 1,215 117 2,377 13,219 4,284 Page 19
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish CharilabFe Incorporated Organisation) htOTtS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 11. Creditors: Amounts falling due wilhin one year 2025 Trade cre(Jitr)rs Aceruals and deferred income 791 2,000 1.850 2,791 1,850 Page 20
GALLOWAY COMMUNITY TRANSPORT SCIO {A Scottish Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12. statement of fund$ Statement of funds - current year Balance at 1 Septernber 2024 Balance at 31 August 2025 Incomg Expondttur8 Unrestricted funds Deslgnated funds Capital asset fund 275.849 155.221) 220.628 General funds General Funds 65.515 173.159 {168.845} 69.829 Total Unrestricted funds 341.364 173.159 1224,066) 290,457 Restricted funds Patient Transport Service 18.496 18,730 19,986) 27,240 Total of funds 359,860 191.889 1234.052) 317,697 The Palienl Transport Service fund is for funds riry-fenced to provide a CAJmmunty patient transport project. The Minibus fund represents an0nn0$ donations. as well as grants received from Garfeld Weston, The James T Howat Fund and the Robertson Trust as contributions towards the purchase of new minibuses. The purchase of Ihe minibus fuEfiled the restriction therefore this has been transferred to a designated capital asset fund where the depreciation 11 be appl*d against each year. Page 21
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitablè Incorporatéd Organisalionl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12. Statement of funds Icontinuedl Statement of funds - prior year Balance at 1 September 2023 8alanGe al 31 August 2024 Transfers in/oul Income Expenditure Unrestricted funds Designated funds Capital asset fund (44,569) 320.418 275,849 General funds General Funds 43,222 165, 198 (147,990) 5.085 65,515 Total Unrestricted funds 43.222 165,198 (192.559) 325,503 341.364 Restricted funds Cycle Scoland Energy Savings Trust Patient Transport Seryice Blackcraig Minibus 5.085 230.GQO 15,35T (5.085) (230,000) 9.306 12.500 90.418 (6. 167) (12.500) 18.496 (90,418) 250,442 112.224 (18.667) (325,503) 18.496 Total of funds 293.664 277,422 {211,226) 359,860 Page 22
GALLOWAY COMMUNITY TRANSPORT SCIO (A Scottish Charitable Incorporated OryanisatiODI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13. Summary of funds Sumrnary of funds - current year Balance at 1 September 2024 Balance at 31 August 2025 Income Expendlture Desi9naled funds General funds Restricted funds 275.849 65,515 18,496 {55.2211 (168,8451 19,9861 220,628 69,829 27.240 173,159 18.730 359,860 191.889 1234,0521 317.697 Summary of funds- prfor year Balanc8 al I September 2023 Balence al 31 August 2024 TTrnsfe in/out Income Expenditure Designated funds General funds Restricted funds (44,569) (147,990) (18,66T) 320,418 5,085 (325.503J 275,849 65,515 18,496 43.222 250.442 165.198 112.224 293.664 277.422 (211,226) 359,860 14. Analysis of net assets between funds Analysis of net assets between funds- CUTrent year Restrlcted Unrestricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due vrithin one year 227,985 65,263 {2,7911 227,985 92,503 12.7911 27.240 Total 27.240 290,457 317,697 Page 23
GALLOWAY COMMUNITY TRANSPORT SCIO IA Scottish Charitable Incorporated Organisationl 'E riNI MNI CIAL S I ATEl¢iEi4TS FOR THE YEAR ENDED 31 AUGUST 2025 14. Analysts of net a$5ets between funds (continued Analysis of nel assets belween funds - prior year Restrted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 285, 194 58.020 (1,850) 285, 194 76.516 (1.850) 18.496 Total 18,496 347.364 359.860 15. Members. Ilabllity Each member of the charitable company undertakes to contribute to the assets of the charity in the everrt of il being wound up while helshe is a member. wtthin one year after helshe ceases to be a member, such amount as may be required. nol exceeding £1 for the debts and liabilities contracted before helshe ceases lo be a member. 16. Related party transactlons Due to the close connectivity tthEen the entities. the charity has operated an inter-charity loan account with GCAT. Day lo day staff and management services have also been provided by GCAT, GCT pays GCAT £1,500 a month for these servIs. Al the period end date £3.961 is owed by GCAT and is included in debt0 {2024- £1.215). 17. Controlllng party The Glenkens Community & Arts Trust {GCATI. a charity registered in Scotland under number SC032050 and a company registered at Companies House ijnder number SC222083. is considered lo be the controlling party due to Ihe strong operational links and the control exercised by the Board who are also Trustees of both entibes. Page 24