REGISTERED COMPANY NUMBER: SC478866 (Scotland)

REGISTERED CHARITY NUMBER: SC44907

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ELLON CASTLE GARDENS

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

13

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period from 1 January 2023 to 31 December 2023.

The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006 and the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)(effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives, aims and activities

The Charity's objects are to promote and advance heritage, culture and environmental protection or improvement for the public benefit, in particular by restoring, maintaining, permanently preserving, and making accessible to the public the scheduled Ancient Monument which is Ellon Castle Gardens, in order to conserve and facilitate access to a place of historical interest and encourage interest in local history while also encouraging the conservation of the natural environment for the benefit of the local community and wider public through the promotion of gardening, plant management and conservation works in relation to Ellon Castle Gardens.

Ellon Castle Gardens Trust was established in 2014 to assume ownership of the historic Ellon Castle walled garden, the ruins of the castle, and the surrounding parkland and woodland on behalf of the community. Funding for this undertaking was provided in the form of a donation and the transfer of eleven properties in a newly built development adjacent to the Gardens in accordance with an agreement concluded under Section 75 of the Town and Country Planning (Scotland) Act. Ellon Castle Gardens is a Private Limited Company (SC478866), and a Charity (SC044907).

A summary of the main activities in relation to the objectives, and carried out in the year under review, are as follows:.

-

The Gardens were open to Members, volunteers and visitors throughout the year.

-

Regular opening times for visitors included weekends, two days midweek, and a midweek evening. We are looking at ways to extend the number of days we can open in 2025.

-

A full programme of events was provided including annual favourites such as the Snowdrop Festival, Bluebells and Blossoms, Apple Day, and the Spooky Halloween Trail. For the first time, we hosted a Summer Music concert which featured the full complement of musicians from the Bon-Accord Silver Band. The third annual Christmas Carol concert took place under the ancient yew trees and were joined once again by an ensemble from the Bon-Accord Silver Band. This event proved extremely popular with over 400 people, young and old, joining the festivities.

-

Once again, we hosted two outdoor theatre events - The Adventures of Doctor Dolittle and The Hound of the Baskervilles - each of which was staged by Illyria, the nationally acclaimed touring theatre company. Over 400 people gathered in the Gardens for the performances.

-

A two-day Craft Fayre, facilitated by Exclusively Highlands, was hosted for the second time and built on the success of the first event. Over 3,200 people visited the Fayre, and the 55 stalls hosted a wide variety of high quality merchandise and refreshments.

-

Further work was carried out in preparation for our 'Phase B' plans to conserve the castle ruin, renovate the Garden House and undertake other substantial improvements. We had extensive engagement with Historic Environment Scotland and Aberdeenshire Council, and we are pleased to report that planning consent for the works was awarded in Q.4 2024, a significant milestone for the project.

-

We engaged with additional grant funding bodies including the National Lottery Heritage Fund and the Wolfson Foundation as part of the process of securing sufficient funds to cover all the Phase B costs. Formal applications will be submitted in 2025

-

Garden Designer Katie Reynolds was consulted to introduce colour into the South Border from spring thorough to autumn. Her design included various Rhododendrons and Azaleas which were sponsored by members and planted by volunteers.

-

Many other tasks essential to the upkeep and improvement of the horticultural and structural aspects of the Gardens were carried out by our dedicated and enthusiastic volunteers.

-

A contractor was employed to remove the trees from our woodland which had been damaged by Storm Arwen in November 2021. The work was necessary to make it safe for visitors and to create space for replanting to begin in 2025

-

We applied for and were successfully awarded a grant of £12,926 by the Scottish Government's Just Transition Fund at the end of Q.4. The grant represents 90% of the cost of the works (the balance of 10% paid by ECG) and will be used to provide a range of facilities to improve community access to sustainable cycling.

-

The grant of £19,500 received from Aberdeenshire Rural Communities Challenge Fund at the end of 2023 was deployed for the installation of a new mains water supply at the Gardens. This facility became operational in Q.1 2024.

Financial Review

-

The Trustees continue to have a reasonable expectation that the combination of reserves and annual income arising from the letting of its properties, and from other sources (e.g., Events, Memberships and Visitors) will ensure that the charity has sufficient resources to continue its operations for the foreseeable future.

-

The Ellon Castle Gardens Business Plan remained as the guiding document for activities during the period of this report. This business plan set out financial targets for a 9-year period.

-

The use of Key Performance Indicators was maintained and have proved valuable in providing a clear and concise indication of financial and business performance.

-

Repayment of the £20,000 Business Bounceback loan continued and at the end of 2023, the debt stood at £5,666.

-

Membership and visitor numbers remained solid during the year. Visitor numbers almost reached 10,000 for the first time and we look forward to maintaining this upward trend.

Reserves policy

The charity has considered the reserves required and have taken into account their current and future liabilities. The trustees aim to maintain sufficient liquid reserves in both restricted and unrestricted funds at a level roughly equating to at least one years charitable expenditure, to ensure that the charity is able to deal with any unexpected eventualities affecting use of the gardens.

The level of funds at 31 December 2024 was £170,664 which is slightly more than one years expenditure of £115,000. The current level of reserves is therefore higher than is needed by by five months' expenditure.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is governed by it's Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Trustee recruitment and appointment

The Trustees, who are also the Directors for the purpose of company law, are appointed from members of the Charity.

The minimum number of Trustees according to the Articles of Association is three and the maximum is twenty. Trustees are appointed for an initial period not exceeding four years, following which they may be reappointed for a second and final term of four years.

One third of the first Trustees appointed on 30 May 2014 shall retire after two years and a further third after three years. The remaining first Trustees shall retire after four years.

The Trustees are appointed by the members at the Annual General Meeting.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC478866 (Scotland)

Registered Charity number

SC44907

Registered office

Gardens Site

Schoolhill

Ellon

Aberdeenshire

AB41 9AH

Trustees

Dr A Craigon

Mr D J Kerr

Mr D A Manson (resigned 18/6/24)

Mr J Gill

Ms J Gospel

Mr A E Johnson

Ms F A Taylor

Company Secretary

Mackinnons Solicitors LLP

Independent Examiner

Katrina Cutler BA(Hons) CA

Bain Henry Reid

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Ellon Castle Gardens for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity 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 charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 5 June 2025 and signed on its behalf by:

Mr D J Kerr - Trustee

I report on the accounts for the year ended 31 December 2024 set out on pages five to thirteen.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention :

(1)	which gives me reasonable cause to believe that, in any material respect, the requirements

-	to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

-	to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2)	to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Katrina Cutler BA(Hons) CA

The Institute of Chartered Accountants of Scotland

Bain Henry Reid

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

5 June 2025

2024

2023

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

12,616

49,222

61,838

75,006

Other trading activities

2

43

-

43

3,894

Investment income

3

-

90,678

90,678

84,682

Total

12,659

139,900

152,559

163,582

EXPENDITURE ON

Raising funds

2,271

9,043

11,314

14,816

Charitable activities

Charitable Activities

16,397

105,983

122,380

130,050

Total

18,668

115,026

133,694

144,866

NET INCOME/(EXPENDITURE)

(6,009

)

24,874

18,865

18,716

Transfers between funds

14

7,664

(7,664

)

-

-

Net movement in funds

1,655

17,210

18,865

18,716

RECONCILIATION OF FUNDS

Total funds brought forward

1,870,951

153,454

2,024,405

2,005,689

TOTAL FUNDS CARRIED FORWARD

1,872,606

170,664

2,043,270

2,024,405

2024

2023

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

7

14,822

-

14,822

16,785

Investment property

8

1,855,885

-

1,855,885

1,855,885

1,870,707

-

1,870,707

1,872,670

CURRENT ASSETS

Stocks

9

500

-

500

615

Debtors

10

1,966

6,988

8,954

9,325

Cash at bank and in hand

2,433

183,265

185,698

157,490

4,899

190,253

195,152

167,430

CREDITORS

Amounts falling due within one year

11

(3,000

)

(17,922

)

(20,922

)

(10,028

)

NET CURRENT ASSETS

1,899

172,331

174,230

157,402

TOTAL ASSETS LESS CURRENT LIABILITIES

1,872,606

172,331

2,044,937

2,030,072

CREDITORS

Amounts falling due after more than one year

12

-

(1,667

)

(1,667

)

(5,667

)

NET ASSETS

1,872,606

170,664

2,043,270

2,024,405

FUNDS

14

Unrestricted funds

1,872,606

1,870,951

Restricted funds

170,664

153,454

TOTAL FUNDS

2,043,270

2,024,405

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 5 June 2025 and were signed on its behalf by:

Mr D J Kerr - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statement have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The trust constitutes a public benefit entity as defined by FRS 102.

Going concern

The trustees are of the opinion that there is sufficient resources available to continue the activities of the charity over the next 12 months. The trustees, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the charity has adequate resources to continue for the foreseeable future. As a result the trustees have continued to adopt the going concern basis of accounting in preparing these financial statements.

Income

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

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, over their estimated useful life or, if held under a finance lease, over the term of the lease, whichever is the shorter. The rates applicable are:

Garden

- not depreciated as not yet complete

Plant and machinery

- 25% Reducing balance

Fixturs, fittings and equipment

- 25% Reducing balance

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is recognised in the Statement of Financial Activities for the year.

Stocks

Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

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

Cash and cash equivalents

Cash at bank and in hand includes cash held with banking institutions.

Creditors

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

Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.	OTHER TRADING ACTIVITIES

2024

2023

£

£

Shop income

43

3,894

3.	INVESTMENT INCOME

2024

2023

£

£

Rents received

87,013

83,385

Deposit account interest

3,665

1,297

90,678

84,682

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

YEAR ENDED

YEAR ENDED

31/12/24

31/12/23

£

£

Depreciation - owned assets

1,963

2,592

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

12,094

62,912

75,006

Other trading activities

3,894

-

3,894

Investment income

1,297

83,385

84,682

Total

17,285

146,297

163,582

EXPENDITURE ON

Raising funds

5,664

9,152

14,816

Charitable activities

Charitable Activities

16,658

113,392

130,050

Total

22,322

122,544

144,866

NET INCOME/(EXPENDITURE)

(5,037

)

23,753

18,716

Transfers between funds

1,860

(1,860

)

-

Net movement in funds

(3,177

)

21,893

18,716

RECONCILIATION OF FUNDS

Total funds brought forward

1,874,128

131,561

2,005,689

TOTAL FUNDS CARRIED FORWARD

1,870,951

153,454

2,024,405

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

Garden

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024 and 31 December 2024

8,500

34,638

27,769

1,287

72,194

DEPRECIATION

At 1 January 2024

-

30,625

24,362

422

55,409

Charge for year

-

1,002

852

109

1,963

At 31 December 2024

-

31,627

25,214

531

57,372

NET BOOK VALUE

At 31 December 2024

8,500

3,011

2,555

756

14,822

At 31 December 2023

8,500

4,013

3,407

865

16,785

8.	INVESTMENT PROPERTY

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,855,885

NET BOOK VALUE

At 31 December 2024

1,855,885

At 31 December 2023

1,855,885

Investment property comprises properties donated to the charity with the view to earn rental income. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 May 2016 by J & E Shepherd Chartered Surveyors, who are not connected with the charity.

9.

STOCKS

2024

2023

£

£

Stocks

500

615

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

8,746

8,794

VAT

208

531

8,954

9,325

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 13)

4,000

4,000

Other creditors

996

1,094

Accruals and deferred income

15,926

4,934

20,922

10,028

12.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 13)

1,667

5,667

13.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year on demand:

Bank loans

4,000

4,000

Amounts falling between one and two years:

Bank loans - 1-2 years

1,667

4,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

1,667

The charity drew down a COVID19 bounce back loan in May 2020 for a total of £20,000, repayable over five years from June 2021.

14.	MOVEMENT IN FUNDS

Net

Transfers

At

movement

between

At

31/12/23

in funds

funds

31/12/24

£

£

£

£

Unrestricted funds

General fund

1,870,951

(6,009

)

7,664

1,872,606

Restricted funds

Property conservation fund

153,454

(28,916

)

46,126

170,664

Investment property rental income

-

53,790

(53,790

)

-

TOTAL FUNDS

2,024,405

18,865

-

2,043.270

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

Incoming

Resources

Movement in

resources

expended

funds

£

£

£

Unrestricted funds

General fund

12,659

(18,668

)

(6,009

)

Restricted funds

Property conservation fund

50,519

(79,435

)

(28,916

)

Investment property rental income

89,381

(35,591

)

53,790

TOTAL FUNDS

152,559

(133,694

)

18,865

Monies held in the Property Conservation Fund are to be used for identified conservation projects relating to the Castle and Gardens.

The Investment Property Rental Income fund is first to be used for property maintenance costs and any surplus can then be used for the general purposes of the charity.

15.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.

16.	POST BALANCE SHEET EVENTS

The charity is in the process of installing secure bike racks and an e-bike charging station which is in part funded by a grant from The Just Transition Fund. The grant was awarded in December 2024 for a total of £12,926 and is included within deferred income at the year end.