REGISTERED COMPANY NUMBER: SC392079 (Scotland)

REGISTERED CHARITY NUMBER: 022620

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Woodend Arts Limited

(A Company Limited by Guarantee)

Page

Report of the Trustees

1

to

5

Independent Examiner's Report

6

Statement of Financial Activities

7

Statement of Financial Position

8

to

9

Notes to the Financial Statements

10

to

20

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 year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Woodend Arts Limited (WAL) is a not-for-profit company limited by guarantee. We can trace our roots back to 1994 when the Barn was created as a centre for the arts within Deeside.

We collaborate and co-create with artists, makers and audiences to develop arts experiences which grow environmental awareness, cultivate action and create the conditions to explore alternative ways of learning and living on earth.

We have a varied programme of events and projects that connect multiple communities, encourage different notions of care, and create shared experiences.

OBJECTIVES AND ACTIVITIES

Objectives and Aims

Woodend Arts Limited's (WAL) objects are to:

1) To advance the arts with a particular focus on exploring the earth we inhabit and the environment we share with other living organisms;

2) To encourage diversity by nourishing and interconnecting the public (audiences, partners and communities of interest) and their multiple perspectives;

3) To grow the organisation and its publics through programmes of education and research;

4) To provide facilities for the practice and performance of arts;

5) To do such things considered by the directors to be conducive to the above objects.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Barn is a leading multi-arts organisation and venue, based in Banchory, Aberdeenshire, that presents a varied programme of events including performances, films, talks, visual arts and projects that reach diverse communities to offer shared experiences.

For over 30 years the Barn has championed environmental and ecological awareness, including the creation of a wild garden and 110 community allotments, positively influencing the lifelong learning and well-being of local residents and visitors. Creative projects frequently explore the connections between art, the environment and sustainability.

The Barn plays a key role in supporting artists, at all career stages, to create and develop new work through a series of residencies, commissions and research projects within the local community.

During 2024/25, our collaborative team of staff, artists and 40 volunteers worked together to devise and deliver a programme of projects, events and experiences. We were successful in delivering 152 events, 94 workshops, 2 exhibitions and 1 artist project. We had engagement from over 13,000 people during this time. Highlights of the year included;

- The Far Orchard - a community project that connects living systems, food and community through the redistribution of an apple orchard and a network of human hosts as pollinators.

- Plenty? - an intergenerational festival responding to the environmental crisis that reimagines a traditional harvest celebration and focuses on the ideas of "degrowth" in a consumerist world that demands more and more.

- Schools Screening and Creative Activities - We hosted special screenings for primary and secondary pupils, including The Wild Robot and Macbeth from National Theatre. We also had media students in a workshop with Scottish Filmmaker Duncan Cowles.

- Refugee Festival Scotland - We partnered with Refugee Festival Scotland to host a day of music, workshops and food at the Barn for refugees.

- Performances and events - music performances from GNOSS, Calum McIlroy, Ando Glasso and Kim Carnie, theatre show June Carter Cash from National Theatre Scotland and Men Don't Talk and dance performance Hebridean Treasure.

- Exhibitions - Wood Engravers Society and North East Open Studios.

Our targeted Equalities, Diversity and Inclusion work focused on partnership working with Grampian Regional Equalities Council and Aberdeenshire Resettlement Team.

FINANCIAL REVIEW

Financial review

WAL raises funds from a number of different sources. In addition to monies which arise directly from arts events and workshops, we earn income from hiring our facilities to private individuals and businesses for weddings, parties and other events. This earned income is supplemented by grants and donations from both public and private bodies. During 2024/25, 45% of our income came from grants, trusts and donations and 55% from earned income.

Funders during 2024-25 included Creative Scotland, Rural Development Fund, Just Transition, Morrison's, Stafford Trust, Hugh Fraser Foundation and George McCrombie.

Total income for 2024-25 was £437,618 and total expenditure was £477,857, producing a net deficit of £40,239. After unrealised gains on the revaluation of assets of £36,900, the net deficit reduced to £3,339.

Our policy is to invest surplus funds in bank or building society accounts bearing interest and to endeavour to maintain liquid funds which allow for at least 3 months of operation to provide working capital (this amounts to about £60,000). At the year end, WAL held cash balances of £83,979.

Total funds at 31 March 2025 amounted to £323,046, including restricted funds of £84,015.

Following the measures that were put in place at the end of 2023-24 and the securing of a long term, low interest loan from Social Investment Scotland of £60,000 in May 2024, we were able to reduce the deficits in the year. We were successful in our application to Creative Scotland for Multi-Year Funding, which secures higher funding until March 2028. This enables our plans to rebuild our reserves whilst also delivering our ambitions.

PLAN FOR FUTURE PERIODS

The Far Orchard continues to be the Barn's central project. Over the coming years we look to expand this network of individuals, groups and organisations and deepen the connections between them.

Our areas for priority in 2025-26 include strengthening our organisational structure and governance, connecting with our local communities and developing innovative programming to attract new audiences and participants, with a particular focus on youth and those who experience isolation. We will continue to develop our programmes to utilise art and creativity to bring together diverse ranges of perspectives to explore environmental questions and issues. We will also develop our expertise in combining creativity and environmental action to enhance the wellbeing of individuals and communities.

We continue to develop plans for the Walled Garden. This will become a space for experimentation around soil, an artist learning space and an inspirational learning and growing space for our communities. We will be actively fundraising for this large scale and ambitious project. Once completed, the Walled Garden will enhance and complement the Barn's projects and programme, as well as our physical environment.

We continue to apply for small and large grants from Trusts and Foundations and Public funding. We also supplement this with earned income from tickets, retail, bar and public and private hires.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

WAL is a not-for-profit company limited by guarantee. We can trace our roots back to 1994 when the Barn was created as a centre for the arts within Deeside.

WAL is governed by its Memorandum and Articles of Association. The structure of WAL consists of:-

(a) the Members - who have the right to attend the annual general meeting (and any extraordinary general meeting) and have important powers under the Articles of Association and the Companies Acts; in particular, the members elect the directors and take decisions in relation to changes to the Articles themselves

(b) the Directors -who hold regular meetings during the year between annual general meetings (AGMs), and generally control and supervise the activities of the company; in particular, the directors are responsible for monitoring the financial position of the company and setting policy

Recruitment and appointment of new Trustees

Directors will normally be appointed for a term of three years. At each AGM one third of the directors shall retire from office - but shall then be eligible for re-election. WAL seeks to recruit committed individuals who will be able to contribute to its long-term success. Directors are selected with a view to ensuring that the board contains a range of business and artistic skills, and reflects a broad spectrum of diverse age, experience and background and reflects the communities in which we work. Induction is via discussions with existing directors, and review of WAL's Memorandum and Articles of Association, policies, management guidelines and Business Plan.

Pay Policy for Directors and Senior Staff

All directors are volunteers and give their time freely and no director received remuneration or expenses in the year.

The pay of staff is reviewed annually by the board of directors. The directors periodically benchmark pay levels against those in other voluntary sector organisations.

Risk management

The Board manages the risks inherent in its business via policies and management guidelines, including a comprehensive Health and Safety Risk Assessment which is regularly reviewed. WAL insures its assets and equipment, and carries £5 million of Public Liability insurance.

The day-to-day running of WAL is delegated to the Senior Management Team, who are supported by a number of staff, freelance specialists and volunteers. Substantial decisions relating to human and/or commercial and contractual issues are taken by the directors of WAL in consultation with the Barn's Senior Management Team.

As WAL is a registered Scottish charity, all directors of the company are also trustees of the charity.

In addition to managing its own activities, WAL acts as the hub of a creative network, involving several independent groups delivering the arts and engaging with communities.

These include:

Woodend Music Society (WMS) organises a number of classical music concerts and workshops each year. WMS occasionally commissions new works.

North East Arts Touring (NEAT) supports theatre, dance and film events in community settings across NE Scotland.

Woodend Allotments operate allotment gardens in fields behind the Barn.

Bistroco an independent cafe/bistro adjoining the Barn.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC392079 (Scotland)

Registered Charity number

022620

Registered office

The Barn

Burn O'Bennie

Banchory

Aberdeenshire

AB31 5QA

Trustees

C J Mountford (resigned 9.5.24)

T N Small;

L Cash (resigned 9.5.24)

A N J Pushkin

M J Shand

R Johnson (resigned 9.5.24)

Y Chou (appointed 7.11.24)

W F S Griffin (appointed 6.2.25)

H M Smith (appointed 14.2.25)

H R Needham (appointed 7.5.25)

Independent Examiner

Gillian R Nicolson

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

Approved by order of the board of trustees on 30 September 2025 and signed on its behalf by:

M J Shand - Trustee

I report on the accounts for the year ended 31 March 2025 set out on pages seven 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 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.

Gillian R Nicolson

The Institute of Chartered Accountants of Scotland

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

30 September 2025

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

4

19,171

43,283

62,454

31,926

Charitable activities

Creative Scotland

133,333

-

133,333

133,333

Performances and workshops

86,260

-

86,260

65,735

Other trading activities

5

153,575

-

153,575

132,703

Investment income

6

1,996

-

1,996

998

Total

394,335

43,283

437,618

364,695

EXPENDITURE ON

Raising funds

7

40,536

-

40,536

38,319

Charitable activities

8

Performances and workshops

97,081

4,274

101,355

96,024

Other

3,700

610

4,310

3,676

Exhibitions & Residencies

1,037

-

1,037

1,371

General Office

32,416

17,444

49,860

30,786

Premises Costs

59,629

-

59,629

68,514

Staff Costs

189,958

1,431

191,389

224,626

Depreciation

23,357

6,384

29,741

29,347

Other

-

-

-

-

Total

447,714

30,143

477,857

492,663

NET INCOME/(EXPENDITURE)

(53,379

)

13,140

(40,239

)

(127,968

)

Transfers between funds

22

18,577

(18,577

)

-

-

Other recognised gains/(losses)

Gains on revaluation of fixed assets

36,900

-

36,900

-

Net movement in funds

2,098

(5,437

)

(3,339

)

(127,968

)

RECONCILIATION OF FUNDS

Total funds brought forward

236,933

89,452

326,385

454,353

TOTAL FUNDS CARRIED FORWARD

239,031

84,015

323,046

326,385

CONTINUING OPERATIONS

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

15

339,002

69,109

408,111

396,334

CURRENT ASSETS

Stocks

16

4,923

-

4,923

3,320

Debtors

17

13,898

-

13,898

13,243

Cash at bank and in hand

69,073

14,906

83,979

41,878

87,894

14,906

102,800

58,441

CREDITORS

Amounts falling due within one year

18

(142,762

)

-

(142,762

)

(128,390

)

NET CURRENT ASSETS

(54,868

)

14,906

(39,962

)

(69,949

)

TOTAL ASSETS LESS CURRENT LIABILITIES

284,134

84,015

368,149

326,385

CREDITORS

Amounts falling due after more than one year

19

(45,103

)

-

(45,103

)

-

NET ASSETS

239,031

84,015

323,046

326,385

FUNDS

22

Unrestricted funds

239,031

236,933

Restricted funds

84,015

89,452

TOTAL FUNDS

323,046

326,385

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 30 September 2025 and were signed on its behalf by:

W F S Griffin - Trustee

1.	CHARITY INFORMATION

Woodend Arts Limited is a private company limited by guarantee incorporated in Scotland. The registered office is The Barn, Burn O'Bennie, Banchory, Aberdeenshire, AB31 SQA.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.

Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Income from charitable trading activity is accounted for when earned. Investment income is included when receivable.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Assets which cost £250 or over are capitalised. Donated fixed assets are capitalised at their estimated value.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tenants Improvements over lease term

Equipment 10-33% straight line

Artwork not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Pension costs and other post-retirement benefits

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

Going concern

It is the opinion of the trustees that, with continued funding support from various bodies and ongoing cost control, the charity will be able to operate as a going concern. The current and future financial position of the charity, its cash flows and liquidity position have been reviewed by the trustees. Based on cash flow projections, loan support from Social Investment Scotland and awarded Multi-Year Funding from Creative Scotland until March 2028 it is the opinion that the charity will continue to have adequate cash reserves to meet its liabilities as they fall due. From the regular review of the financial position of the charity the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of the assets. The useful economic lives and residual values are re­ assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Impairment of debtors

The charity makes an estimate on the recoverability of debtors. When assessing impairment of debtors, management consider factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

4.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

21,444

25,516

Gift aid

351

-

Grants

38,313

3,960

Friends Subscriptions

2,346

2,450

62,454

31,926

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

2025

2024

£

£

Rural Community Led Vision Challenge Fund

12,507

-

AVA Transition

11,500

-

Marr Area Partnership

1,679

-

The George Crombie Trust

2,000

-

Theatre's Trust

3,030

-

Morrisons Walled Garden

7,597

-

Other grants

-

3,960

38,313

3,960

5.	OTHER TRADING ACTIVITIES

2025

2024

£

£

Fundraising events

28,970

42,573

Bar Income

53,374

38,478

Hall Hire

52,712

31,678

Rental Income

5,400

6,030

Other

13,119

13,944

153,575

132,703

6.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

1,996

998

7.	RAISING FUNDS

Other trading activities

2025

2024

£

£

Bar costs

31,545

24,328

Fundraising costs

8,991

13,991

40,536

38,319

8.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 9)

Totals

£

£

£

Performances and workshops

101,355

-

101,355

Other

4,310

-

4,310

Exhibitions & Residencies

1,037

-

1,037

General Office

44,313

5,547

49,860

Premises Costs

-

59,629

59,629

Staff Costs

-

191,389

191,389

Depreciation

29,741

-

29,741

180,756

256,565

437,321

9.	SUPPORT COSTS

Governance

Other

costs

Totals

£

£

£

General Office

-

5,547

5,547

Premises Costs

59,629

-

59,629

Staff Costs

191,389

-

191,389

251,018

5,547

256,565

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

Other

2025

2024

Premises

Staff

Total

Total

Costs

Costs

activities

activities

£

£

£

£

Wages

-

182,729

182,729

208,152

Social security

-

4,710

4,710

10,759

Pensions

-

3,950

3,950

5,715

Other operating leases

20,501

-

20,501

20,501

Rates and water

6,733

-

6,733

6,736

Insurance

4,369

-

4,369

4,106

Light and heat

16,833

-

16,833

22,130

Maintenance & Cleaning

11,193

-

11,193

11,277

59,629

191,389

251,018

289,376

Governance costs

2025

2024

General

Total

Office

activities

£

£

Auditors' remuneration

-

150

Sundries

18

13

Accountancy

3,029

3,165

Professional fees

2,500

-

5,547

3,328

10.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Auditors' remuneration

-

150

Depreciation - owned assets

28,082

29,348

Other operating leases

20,501

20,501

Deficit on disposal of fixed assets

1,660

-

11.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

12.	STAFF COSTS

2025

2024

£

£

Wages and salaries

182,729

208,152

Social security costs

4,710

10,759

Other pension costs

3,950

5,715

191,389

224,626

The average monthly number of employees during the year was as follows:

2025

2024

Full Time

-

1

Part time

13

12

13

13

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

13.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

21,966

9,960

31,926

Charitable activities

Creative Scotland

133,333

-

133,333

Performances and workshops

65,735

-

65,735

Other trading activities

132,703

-

132,703

Investment income

998

-

998

Total

354,735

9,960

364,695

EXPENDITURE ON

Raising funds

38,319

-

38,319

Charitable activities

Performances and workshops

90,024

6,000

96,024

Other

3,676

-

3,676

Exhibitions & Residencies

1,371

-

1,371

General Office

30,786

-

30,786

Premises Costs

65,150

3,364

68,514

Staff Costs

224,626

-

224,626