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2025-12-31-accounts

REGISTERED CHARITY NUMBER: SC049866

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2025

for

Scotland's Gardens Scheme SCIO

Scotland's Gardens Scheme SCIO

Contents of the Financial Statements for the Year Ended 31 December 2025

Page
Report of the Trustees 1to7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11to20

Scotland's Gardens Scheme SCIO

Report of the Trustees for the Year Ended 31 December 2025

The Trustees of the charity, present their report and the accounts of Scotland's Gardens Scheme for the year to 31 December 2025.

MISSION

Scotland's Gardens Scheme is Scotland's growing, giving and inspiring community of garden-lovers. Our mission is to raise funds for charity by encouraging, promoting and supporting garden openings, whilst making the experience inspiring, rewarding and enjoyable for all. We aim to inspire people from all walks of life to connect, support and join in with what we do throughout the year and for generations to come.

We aim to be the partner of choice to open gardens for charity, ensuring inspiring, rewarding and enjoyable experiences for all.

OBJECTIVES AND ACTIVITIES

Nurture our garden opening community

Ensure a resilient & sustainable organisation

Communicate our story

Understand & celebrate our charitable giving and impact

CHARITABLE PURPOSES

The Charitable Purposes of the SCIO are, through the opening of gardens throughout Scotland to the public and other projects:

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Scotland's Gardens Scheme SCIO

Report of the Trustees for the Year Ended 31 December 2025

ACHIEVEMENTS AND PERFORMANCE

OPERATIONAL OVERVIEW

Scotland's Gardens Scheme was established in 1931 to raise funds for the Queens' Nursing Institute of Scotland (QNIS), supporting pensions and training opportunities for district nurses prior to the formation of the NHS. Today, we support three core beneficiary charities.

In 2025 these were:

Those charities are chosen to align with our core values, supporting wellbeing and horticultural benefit.

Since 2018, 60% of garden gate takings have been designated for a charity nominated by the Garden Owner and are distributed directly by the local district branch of the Scheme, with the remaining 40% returning to Head Office to support core costs of the charity and our main beneficiary charities.

The charity has a small team of two full-time and two part-time members of staff equating to 3 full-time equivalent posts. The team supports 21 Districts and around 220 regular volunteers to develop, promote and support our annual programme of garden openings, as well as our network of garden openers. Each year, our programme includes approximately 475 listings and during 2025 we distributed funds to over 250 individual charities and good causes.

The Patron of our charity is Her Majesty Queen Camilla, and we thank Her Majesty for her continued support.

2025 ACTIVITY

Thanks to a year that was, in the main, an exceptionally warm and dry year, and the hard work and dedication of our community of garden openers and volunteers, we had an excellent year with record numbers in terms of garden visitors and income. Despite the challenges presented by the ongoing cost of living crisis and a disturbing geopolitical climate, visiting open gardens represents a value-for-money and joyful experience, with the additional benefit of raising funds for many charities and good causes around Scotland and beyond. We have an enthusiastic and loyal network of garden visitors who support our garden openings, and we are delighted to have been able to welcome them to many garden openings around Scotland, both new gardens and old favourites.

We continued to support our network of volunteers, which remains engaged and enthusiastic, and we value our wonderful family of volunteers around Scotland. Through the year, they have shown their dedication to our charity, working extremely hard to organise, support, promote and deliver our programme of garden openings. Our staff team is committed to providing the best possible support for our volunteers and garden openers and we are so grateful for all that they do in sharing gardens to raise funds for so many charities and good causes each year. We were pleased to welcome new volunteers and garden openers into our network again this year.

SUPPORTING OUR VOLUNTEERS AND GARDEN OPENERS

We are committed to supporting our volunteers and garden openers, as the lifeblood and driving force of our charity, and this is the priority of our small staff team. To achieve this, we have a number of different engagement methods:

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Scotland's Gardens Scheme SCIO

Report of the Trustees for the Year Ended 31 December 2025

SUPPORTING OUR VOLUNTEERS AND GARDEN OPENERS continued

Our meetings were held mainly in gardens, in environments conducive to our core values of gardens and wellbeing, and to provide opportunities to relax and enjoy meeting in an inspirational setting. Our meetings were held in the following locations:

The Hidden Gardens, charitable garden with community links in Glasgow

Newliston House near Edinburgh

We also provided the opportunity for two groups of volunteers to visit the developing gardens at Balmoral for a tour guided by the Head of Gardens, a fascinating visit enjoyed by all who attended.

Induction welcome session for those new to our charity

Online training opportunities for volunteers to support them in their roles

We held our conference at Hospitalfield House in Arbroath, welcoming around 115 garden openers, volunteers and supporters of our charity. The day included hands-on workshops, consultation sessions to help shape the future of our charity and talks from industry experts.

We provided day-to-day support for our volunteers and garden openers which included:

Insurance for garden open days

Fund raising materials and signage to support garden open days

Technical support including cashless payment system options

PROMOTING OUR GARDEN OPEN DAYS AND CHARITABLE MESSAGING

This is a key part of our work to ensure that garden open days are well promoted and thus well attended. Our promotional work aims to:

Our tactics to promote our garden openings and charitable messaging, and to inspire visits and engagement, achieved the following in 2025:

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Scotland's Gardens Scheme SCIO

Report of the Trustees for the Year Ended 31 December 2025

CHARITABLE IMPACT

Through the dedication and hard work of our community of volunteers, garden openers, staff and supporters, we achieved the following:

FINANCIAL REVIEW

What a difference a year makes. Our 2024 Report described weather conditions as "very challenging" but after a patchy start to 2025, the sun was shining for large parts of the summer. That good weather, together with the amazing effort of our staff, garden owners and volunteers produced record garden gate takings of £424,320. This was achieved despite our traditionally highest revenue earning garden, Portrack, being unable to open due to essential work being carried out on the estate. Gift aid totalled £6,117 being £4,867 on plant sales and £1,250 on a generous donation from an anonymous donor. The Guidebook contributed £34,998 through sales, advertising and Rathbones' invaluable sponsorship. Generous donations of £8,714, investment income of £10,804 and other income of £3,289 all contributed to producing a combined gross income of over £488,000. In addition, our investment portfolio which underpins our financial stability, produced gains of £32,147.

Our costs continue to be subject to strict budgeting and there is a detailed breakdown of these at Note 7. We distributed £235,805 (2024 - £222,633) to garden owner charities, £72,000 (£60,000) to our core charities, £5,948 (£7,850) on our horticultural bursary programme and a one-off donation of £5,000 to Trellis to support their work. We also strive to advance community development through the promotion of volunteering. The costs of our dedicated volunteer manager, together with related costs amounted to £43,231 (2024 - £41,351). This all combines to make a huge difference to communities throughout Scotland and our SGS community should be proud of their collective effort.

Investment Policy

As noted above, the charity's investment portfolio is an important support to the charity and is the result of past generosity of our supporters and expert financial advice from our fund managers. The decision made at the end of 2024 to move our fund management from Adam & Co to Rathbones was implemented at the end of March 2025. With it, we moved away from direct investment in companies to a holding in Rathbones Core Investment Fund for Charities, whose size at the time of transfer was £224M. The objective of the managers is to achieve an overall return of 4% over and above the CPI. It also has an ethical element in that it does not invest in companies involved in defence, tobacco, oil and gas or minerals. The Trustees have on-line access to gauge performance, receive quarterly reports from Rathbones and meet its representatives at least once a year but they are also on hand as circumstances require. We successfully liquidated the old portfolio just before the market upheaval caused by President Trump's Independence Day tariff announcement. Thereafter, for the part of the year that Rathbones managed the portfolio it achieved a positive return of 6.9% compared with CPI plus 4% of 4.9%.

Reserves policy

The Trustees consider that the financial position of the charity at 31 December 2025 is such that it will have sufficient assets to meet its forthcoming obligations.

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Scotland's Gardens Scheme SCIO

Report of the Trustees for the Year Ended 31 December 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC049866

Principal address

23 Castle Street Edinburgh EH2 3DN

Trustees PRESIDENT

Her Majesty The Queen

HONORARY VICE-PRESIDENTS

Charlotte Hunt Sarah Landale Appointed 9 April 2025 David Mitchell Appointed 9 April 2025 TRUSTEES Dougal Ramsay George Philip Chairman Stephen Mccallum Vice Chair Peter William Yellowlees Treasurer David Buchanan-Cook Board Secretary Rory James Byatt Trustee Jonathan Paul Lindsay Cobb Resigned 9 April 2025 Robert Colin Crosbie Trustee Charlotte Ann Halliday Resigned 15 April 2026 Alexandra Margaret Lindsay Trustee Helen Margaret McMeekin Trustee Eric Wright Trustee

OFFICERS

Liz Stewart Chief Executive Hazel Reid Office manager Jessica Taylor Communications Manager Kate Allan Volunteer Support Officer

CONTACT DETAILS

Head Office: 23 Castle Street, Edinburgh, EH2 3DN Telephone: 0131 226 3714 E-mail: info@scotlandsgardens.org Website: www.scotlandsgardens.org

Independent Examiner

EQ Accountants Ltd 41 Charlotte Square Edinburgh EH2 4HQ

BANKERS

Coutts 6-8 George Street Edinburgh EH2 2PY

INVESTMENT MANAGERS

Rath bones 10 George Street Edinburgh EH2 2PF

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Scotland's Gardens Scheme SCIO

Report of the Trustees for the Year Ended 31 December 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

From 16th January 2020, the Charity became a Scottish Charitable Incorporated Organisation, previously an unincorporated charity. It is controlled by its governing document; Scotland's Gardens Constitution.

Charity constitution

Scotland's Gardens Scheme SCIO is governed by its Constitution and was established on 16 January 2020. The Constitution stipulates that there will be between 5 and 11 Trustees, and they have a duty to ensure that the Charity is managed responsibly, for strategic planning and implementation of policy, all financial matters including all statutory accounting and reporting, maintaining good lines of communication with its beneficiaries and agreeing the basis and amount of donations to charity. The Trustees meet at least four times a year including the Annual Members meeting in April.

Recruitment and appointment of new trustees

At each Annual Meeting, one third of Trustees shall retire from office. They shall be eligible for re-election after one term of office, but no Trustee can serve more than three consecutive terms of office, without at least one year out of office before being eligible again. A Board skills matrix is operated by the Charity and is used to drive the recruitment process for new Trustees. Our current Chairman is Dougal Philip, who took office in April 2022.

Risk management

The Trustees continue to keep the Charity's activities under review, particularly with regard to any major strategic business and operational risks that may arise from time to time and ensure that procedures are in place to mitigate those risks. In line with best practice, Trustees maintain annual policy checks to ensure that policies remain fit for purpose. Our Strategic Plan for 2023-2026 concludes in spring 2026 and will be refreshed for 2026 - 2031. Supporting operational action plans are in place.

Page 6

Scotland's Gardens Scheme SCIO Statemènt of Trustees. Rèsponsibilities for the Year Ended 310ecember 2025 The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with èpplicable law and United Kingdom Accounting Standèrds Iunited Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prep3re financial Statements for each financial yeai. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. 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 state of affairs of the charity and of the incorning resources and application of re50urce5, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently.. observe the method5 and principles in the Charitles SORP,. make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting record5 which disclose with reasonable accuiacy at anv time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charitles and Trustee Investment (Scotlandl Act 2005 and The Charitle5 Accounts Iscotlandl Regulation5 2006 las amended). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detectitsn of fraud ènd other irregularities. The report was approved by the Trustees on 15th April 2026 and signed on its behalf- D R G Philip-Trustee Page 7

Independent Examiner's Report to the Trustees of Scotland's Gardens Scheme SCIO

I report on the accounts for the year ended 31 December 2025 set out on pages nine to twenty.

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 l0(l)(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 :

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

Sheryl Macaulay FCCA

The Association of Chartered Certified Accountants

EQ Accountants Ltd 47-49 The Square Kelso Roxburghshire TD5 7HW

22/04/2026 Date: ........................................... ..

Page 8

Scotland's Gardens Scheme SCIO

Statement of Financial Activities for the Year Ended 31 December 2025

31/12/25 31/12/24
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 439,151 439,151 505,829
Other trading activities 3 34,998 34,998 38,819
Investment income 4 10,804 10,804 12,620
Other income 3,289 3,289 405
Total 488,242 488,242 557,673
EXPENDITURE ON
Raising funds 5 19,839 19,839 21,862
Charitable activities
Garden openings 7 40,293 40,293 39,708
Distributions to Charities 6 318,803 318,803 290,483
Volunteer Support 7 43,304 43,304 41,350
Marketing and Publicity
Management and admin		 7
7		 49,761
37,960		 49,761
37,960		 49,958
45,128
Total 509,960 509,960 488,489
Net gains on investments 32,147 32,147 21,518
NET INCOME 10,429 10,429 90,702
RECONCILIATION OF FUNDS
Total funds brought forward 696,791 4,949 701,740 611,038
TOTAL FUNDS CARRIED FORWARD 707,220 4,949 712,169 701,740

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

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Scotland's Gardens Scheme SCIO

Balance Sheet 31 December 2025

31/12/25 31/12/24
Notes £ £
FIXED ASSETS
Tangible assets 10 1,227 1,402
Investments 11 589,095 480,643
590,322 482,045
CURRENT ASSETS
Debtors 12 3,719 25,410
Cash at bank 194,301 287,694
198,020 313,104
CREDITORS
Amounts falling due within one year 13 (76,173) (93,409)
NET CURRENT ASSETS 121,847 219,695
TOTAL ASSETS LESS CURRENT LIABILITIES
712,169 701,740
NET ASSETS 712,169 701,740
FUNDS 15
Unrestricted funds:
General fund 119,181 118,937
Designated: The Legacy Fund 588,039 577,854
707,220 696,791
Restricted funds:
Archive Review 2,013 2,013
Kirsty Maxwell Stuart Legacy 2,936 2,936
4,949 4,949
TOTAL FUNDS 712,169 701,740

The financial statements were approved by the Board of Trustees and authorised for issue on ...[15 ] Apn1[2026 ] ......... and were signed on its behalf by:

................................. � D R G Philip - Trustee

The notes form part of these financial statements

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Scotland's Gardens Scheme SCIO

Notes to the Financial Statements for the Year Ended 31 December 2025

1. 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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. Donations and legacies are included in the period in which they are receivable, which is when the charity becomes entitled to the resource. Trading income relates to income received in respect of the sale of handbooks. These are recorded at the point of sale.

Investment income comprises bank interest which is recognised when the charity is entitled to the income, which is upon notification by the bank of the interest due.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Allocation and apportionment of costs

Overhead and support costs have been allocated between costs of generating voluntary income and governance based on the use of the resource.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Office Equipment - 10% on cost Computer equipment - 25% on cost

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions (<£1,000) are not capitalised.

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

continued ...

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Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

1. ACCOUNTING POLICIES - continued Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term 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.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement date after allowing for any discounts due.

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 of the trustees. Designated funds are unrestricted funds where the trustees, at their discretion, have created a fund for a specific purpose. 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.

Pensions

Pension contributions are made on behalf of 4 employees to employer's schemes. The schemes are money purchase schemes with the assets invested in an independent fund. Contributions are recognised in the income and expenditure account as they fall due.

Operating leasing commitments

Operating leases and the payments made under them are charged to the statement of financial activities on a straight-line basis over the lease term.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
31/12/25 31/12/24
£ £
Donations and Grants 8,714 105,805
Gift aid 6,117 5,258
Net income from garden owners 424,320 394,766
439,151 505,829
OTHER TRADING ACTIVITIES
31/12/25 31/12/24
£ £
Handbooks 14,498 16,768
Sponsorships 20,500 22,000
Miscellaneous 51
34,998 38,819

3. OTHER TRADING ACTIVITIES

In 2025 sponsorship included £20,000 (2024: £20,000) towards the cost of producing the Handbook.

Page 12

continued ...

Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. INVESTMENT INCOME

4. INVESTMENT INCOME
31/12/25 31/12/24
£ £
Bank Interest and Dividends 10,804 12,620
S. RAISING FUNDS
Other trading activities
31/12/25 31/12/24
£ £
Purchases 17,352 18,557
Investment management costs
31/12/25 31/12/24
£ £
Investment Management Costs 2,487 3,305
Aggregate amounts 19,839 21,862
6. GRANTS PAYABLE
31/12/25 31/12/24
£ £
Distributions to Charities 318,803 290,483
The total grants paid to institutions during the year was as follows:
31/12/25 31/12/24
£ £
Queen's Nursing Institute, Scotland 24,000 20,000
Maggie's Centres 24,000 20,000
Perennial - Gardeners' Royal Benevolent Society 24,000 20,000
Other Charities of Owner's Choice 235,855 222,633
Horticultural training bursaries 5,948 7,850
Guest charity - Trellis 5,000
318,803 290,483

Payments to other charities of owners choice of £235,855 to 254 Charities and good causes (2024: £222,633 to 232 Charities) have been made during the year under individual arrangements. Payments to core charities totaling £72,000 (2024: £60,000) will be made.

continued ...

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Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

7. SUPPORT COSTS

Management Governance Total
Totals costs activities
£ £ £
Garden openings 40,293 40,293
Volunteer Support 38,316 4,988 43,304
Marketing and Publicity 49,761 49,761
Management and admin 34,452 3,508 37,960
162,822 8,496 171,318

Support costs, included in the above, are as follows:

Management

Management
Marketing
Garden Volunteer and
openings Support Publicity
£ £ £
Salaries 23,238 26,197 28,411
Social security 3,068 2,835 3,688
Pensions 1,448 1,276 1,734
Website & Information Management Systems 817
Insurance
Office Rent and Costs 5,586 5,789 6,313
Postage and Telephone 2,003 668
Printing and Stationery (inc. posters, signs etc) 1,261
Advertising, Promotions and Publicity 8,130
Sundries
Travel expenses 2,219
Staff and Trustee Training
Depreciation of tangible assets
District expenses 3,689
40,293 38,316 49,761
31/12/25 31/12/24
Management Total Total
and admin activities activities
£ £ £
Salaries 16,108 93,954 101,895
Social security 2,119 11,710 4,041
Pensions 999 5,457 5,694
Website & Information Management Systems 4,237 5,054 5,553
Insurance 2,750 2,750 2,684
Office Rent and Costs 3,883 21,571 18,606
Postage and Telephone 780 3,451 2,972
Printing and Stationery (inc. posters, signs etc) 1,781 3,042 3,102
Advertising, Promotions and Publicity 8,130 8,994
Sundries 1,330 1,330 393
Travel expenses 61 2,280 2,612
34,048 158,729 156,546

continued ...

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Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

7. SUPPORT COSTS- continued

Management - continued

31/12/25 31/12/24
Management Total Total
and admin activities activities
£ £ £
Brought forward 34,048 158,729 156,546
Staff and Trustee Training 229 229 35
Depreciation of Fixtures and fittings 175 175 175
District expenses 3,689 2,681
34,452 162,822 159,437
Governance costs
31/12/25 31/12/24
Volunteer Management Total Total
Support and admin activities activities
£ £ £ £
Independent Examiners' fee 2,820 2,820
Audit fee 12,000
Conference & meeting costs 4,988 4,988 4,117
Legal & professional fees 688 688 590
4,988 3,508 8,496 16,707

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

Trustee expenses of £73 were paid in the year ended 31 December 2025 (2024: £261).

9. STAFF COSTS

31/12/25 31/12/24
£ £
Wages and salaries 103,454 101,895
Social security costs 2,210 4,041
Other pension costs 5,457 5,694
111,121 111,630
The average monthly number of employees during the year was as follows:
31/12/25 31/12/24
Administrative 4 4

No employees received emoluments in excess of £60,000.

Remuneration of key management personnel was £46,340 (2024: £44,557).

continued ...

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Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

10. TANGIBLE FIXED ASSETS

10. TANGIBLE FIXED ASSETS
Office Computer
Equipment equipment Totals
£ £ £
COST
At 1 January 2025 1,752 7,859 9,611
Disposals
At 31 December 2025 1,752 7,859 9,611
DEPRECIATION
At 1 January 2025 350 7,859 8,209
Charge for year 175 175
At 31 December 2025 175 7,859 8,034
NET BOOK VALUE
At 31 December 2025 1,227 1,227
At 31 December 2024 1,402 1,402
11. FIXED ASSET INVESTMENTS
Cash and
Listed settlements
investments pending Totals
£ £ £
MARKET VALUE
At 1 January 2025 462,918 17,725 480,643
Additions 554,386 554,386
Disposals (465,128) (12,953) (478,081)
Revaluations 32,147 32,147
At 31 December 2025 584,323 4,772 589,095
NET BOOK VALUE
At 31 December 2025 584,323 4,772 589,095
At 31 December 2024 462,918 17,725 480,643

The market value of our investment in the Rathbones Core Investment Fund for charities at 31 December 2025 was £589,095 (2024: £480,643). 8.7% of the portfolio is invested in UK equities, 72.4% in overseas equities, 15.65% in infrastructure funds, 4.1% in diversifiers and 13.1% in liquidity.

The investments are primarily held to provide an investment return for the charity.

continued ...

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Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

11. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2025 is represented by:

Cash and
Listed settlements
investments pending Totals
£ £ £
Valuation in 2025 584,323 4,772 589,095
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/25 31/12/24
£ £
Other debtors 20,000
Prepayments and accrued income 3,719 5,410
3,719 25,410
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/25 31/12/24
£ £
Distributions to charities 72,000 60,000
Accruals and deferred income 4,173 33,409
76,173 93,409

Deferred income relates to income received in advance for the following years handbook advertising and sales. The movement is as follows:

£ Deferred Income as at 1st January 2025 10 Amounts released in year {10) Amounts deferred in year Deferred income as at 31st December 2025

continued ...

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Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

31/12/25 31/12/24
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Fixed assets 1,227 1,227 1,402
Investments 589,095 589,095 480,643
Current assets 193,071 4,949 198,020 597,138
Current liabilities {76,173) {76,173) {377,443)
707,220 4,949 712,169 701,740

15. MOVEMENT IN FUNDS

Net
movement At
At 1/1/25 in funds 31/12/25
£ £ £
Unrestricted funds
General fund 118,937 244 119,181
Designated: The Legacy Fund 577,854 10,185 588,039
696,791 10,429 707,220
Restricted funds
Archive Review 2,013 2,013
Kirsty Maxwell Stuart Legacy 2,936 2,936
4,949 4,949
TOTAL FUNDS 701,740 10,429 712,169

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 488,242 {487,998) 244
Designated: The Legacy Fund (21,962) 32,147 10,185
488,242 (509,960) 32,147 10,429
TOTAL FUNDS 488,242 {509,960) 32,147 10,429

continued ...

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Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1/1/24 in funds funds 31/12/24
£ £ £ £
Unrestricted funds
General fund 118,796 101,144 {101,003) 118,937
Designated: The Legacy Fund 487,293 (10,442) 101,003 577,854
606,089 90,702 696,791
Restricted funds
Archive Review 2,013 2,013
Kirsty Maxwell Stuart Legacy 2,936 2,936
4,949 4,949
TOTAL FUNDS 611,038 90,702 701,740

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 557,673 (456,529) 101,144
Designated: The Legacy Fund {31,960) 21,518 {10,442)
557,673 {488,489) 21,518 90,702
TOTAL FUNDS 557,673 {488,489) 21,518 90,702

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1/1/24 in funds funds 31/12/25
£ £ £ £
Unrestricted funds
General fund 118,796 101,388 {101,003) 119,181
Designated: The Legacy Fund 487,293 (257) 101,003 588,039
606,089 101,131 707,220
Restricted funds
Archive Review 2,013 2,013
Kirsty Maxwell Stuart Legacy 2,936 2,936
4,949 4,949
TOTAL FUNDS 611,038 101,131 712,169

continued ...

Page 19

Scotland's Gardens Scheme SCIO

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 1,045,915 {944,527) 101,388
Designated: The Legacy Fund (53,922) 53,665 (257)
1,045,915 {998,449) 53,665 101,131
TOTAL FUNDS 1,045,915 {998,449) 53,665 101,131

General Fund (Unrestricted)

The General Fund is maintained to provide working capital for the Charity throughout the forthcoming year, thereby enabling the bank account to remain in credit until revenue from garden owners is received.

The Legacy Fund (Designated)

Over the years, Scotland's Gardens Scheme has received a number of generous legacies, most notably from Gordon Bowes and the Cattanach Bequest. These had previously been shown as separate designated funds but the Trustees, for simplicity's sake, consolidated them into one Legacy Fund in 2016.

As part of the re-evaluation of where the charity is going, the Trustees are developing ideas as to what additional use these funds could be put to. They appreciate the need for a plan to use these funds constructively and it is hoped that the ideas that are being formulated will result in a positive strategy for the future.

Archive Review Fund (Restricted)

The purpose of this fund is to help finance a review of our archives and this project is currently underway and nearing completion.

Kirsty Maxwell Stuart Legacy Fund (Restricted)

This fund was established by a legacy received from the estate of the late Kirsty Maxwell Stuart, Past Chairman of the Charity. The funds are to be used for office comforts and improvements.

16. RELATED PARTY DISCLOSURES

Donations of £24,000 {2024: £21,840) were made to the Perennial society of which Trustee David Buchanan-Cook is also a Trustee). {Also in 2024: £100,000 was received from Cross Trust, a Trust in which Trustee Douglas Philip was a Trustee).

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