Company registration number SC060926
GARVALD EDINBURGH
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
GARVALD EDINBURGH
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
A Hackland
B Goodfellow
L Brown
(Appointed 22 August 2024)
W R Campbell
(Appointed 22 August 2024)
Mr C MacDougall D'ath
(Appointed 10 May 2025)
Ms H Rajgopaul
(Appointed 6 August 2025)
S Campbell
(Appointed 19 August 2025)
Chief Executive
C Pooler
Secretary
S Lindsay
Charity number (Scotland)
SC014228
Company number
SC060926
Auditor
Thomson Cooper
22 Stafford Street
Edinburgh
EH3 7BD
GARVALD EDINBURGH
CONTENTS
Page
Chief Executive's Review
1
Directors' report
2 - 7
Independent auditor's report
8 - 10
Statement of financial activities
11 - 12
Balance sheet
13
Statement of cash flows
14
Notes to the financial statements
15 - 30
GARVALD EDINBURGH
CHIEF EXECUTIVE'S REVIEW
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

This has been a year shaped by growth, long-term investment and a deepening of our commitment to providing outstanding services for adults with learning disabilities. Across all buildings, the creativity and energy of members have been matched by the dedication and skill of our staff and volunteers. Together, they continue to foster environments where people feel respected, supported and able to thrive.

The opening of the Phoenix Centre marks a major step forward. More than just a new building, it represents our confidence in the future; a tangible investment in the systems and spaces that will support the next chapter of our work.

We have developed a new five-year strategy. The process was inclusive and reflective, involving members, families, staff and trustees. It has allowed us to reaffirm our core purpose and clarify how we will grow in a changing social care landscape. The strategy, to be launched later in 2025, will guide our development while protecting the unique character of our service.

At the heart of our approach is the philosophy of social therapy: the belief that every individual has worth, the ability to grow, and the right to engage in meaningful work and social connection. These principles inform everything we do from daily workshop routines to strategic planning, and they continue to distinguish Garvald Edinburgh within the wider sector.

In a climate of increasing pressure on services, our focus on stability, creativity and strong relationships is more relevant than ever. We are not only meeting needs but creating the conditions for people to grow in confidence, identity and independence.

As Chief Executive, I am proud of what has been achieved this year, and I am confident that Garvald Edinburgh is well positioned to meet the future with care, clarity and ambition.

Chairman
Date: 12 December 2025
GARVALD EDINBURGH
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

 

The year ending 31st of March 2025 marked a period of strategic momentum and renewed clarity for Garvald Edinburgh. We strengthened our foundations, expanded our infrastructure, and laid the groundwork for future growth.

At the centre of this progress was the delivery of a full and vibrant workshop programme for over 240 members. The scale and consistency of this engagement reflect the ongoing relevance and value of our services to individuals and families across the region.

In March, we opened the Phoenix Centre, which is a major investment in our organisational capacity. Designed to support training, collaboration and leadership, this new space positions us to meet increasing demand while deepening the quality of our work.

Looking ahead, we remain focused on growth that is thoughtful, inclusive and sustainable. Our values of creativity, community and care continue to shape both our daily practice and long-term direction.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Article of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006 and "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).

Our Mission and Values

Garvald Edinburgh offers creative day opportunities for adults with learning disabilities, rooted in a belief that everyone has the right to contribute, grow and belong. Inspired by the principles of social therapy, we aim to provide meaningful work, supportive relationships and inclusive environments where members can build skills, confidence and connections.

Our Year in Review

This year has shown the strength and depth of Garvald Edinburgh’s work. Across all sites, members engaged in creative and purposeful activity, not only producing high-quality work, but also growing in confidence, independence and social connection. The consistency of engagement across our 25 workshops speaks to the quality of the environments we offer, and the trust built between members and staff.

Our staff team has been central to this progress. Through daily rhythm, thoughtful support and a commitment to meaningful work, they have continued to create stable and enabling spaces where members can develop practical skills, strengthen relationships and express themselves. Their professionalism and care underpin everything we achieve.

The impact of this work was visible throughout the year: from members’ participation in national exhibitions and arts festivals, to achievements in baking, podcasting and textile production. These outcomes reflect a culture where everyone is encouraged to contribute, be recognised, and take pride in their place within the community.

In parallel, investment in our physical spaces, particularly the opening of the Phoenix Centre and improvements to existing sites, has created new opportunities for training, collaboration and future growth. Together, these developments have deepened our capacity to deliver a service rooted in creativity, community and care.

Garvald Edinburgh remains, at its core, a place of shared purpose and human connection, where people are not only supported but invited to thrive. This year has reaffirmed the value of what we offer and the strength of the community that makes it possible.

GARVALD EDINBURGH
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

Programme Delivery and Impact

Over the past year, more than 240 members participated in regular, creative and purposeful activities across our 25 workshops. These sessions remain the heart of Garvald Edinburgh’s work offering structured, meaningful opportunities that build skills, confidence and connection. The consistency of attendance and engagement speaks to the quality of our environment and the dedication of our staff.

In Midlothian, our service at Mayfield House has grown steadily, with new members joining throughout the year. The Art and Print Studio, now in its second year, is firmly established and plays a central role in this expansion, offering space for high-quality creative work and collaboration.

Across the organisation, we have seen continued high levels of interest in our services. This demonstrates the positive reputation we have built but also brings the challenge of limited capacity. We are actively reviewing how best to grow in a sustainable and thoughtful way, ensuring that the integrity and values of our work are maintained as we evolve.

Our longstanding partnerships with schools and transition teams remain vital. These relationships support young people as they move into adulthood, helping ensure that this transition is not only supported, but purposeful and affirming. Through this joined-up approach, we continue to offer a pathway into creative, community-based activity that brings long-term benefit.

Exhibitions and Public Engagement

This year, 17 Garvald artists exhibited their work across a series of events, generating income and, more importantly, outcomes of increased confidence, skill development, and personal recognition. These exhibitions fostered a sense of identity and inclusion, both for the artists involved and within the broader community.

Garvald Makers, our Morningside Road shop, hosted four curated exhibitions throughout the year. These exhibitions not only achieved steady sales but also gave members the opportunity to install their work and experience it in situ, which brings both pride and public acknowledgement.

Beyond our own venues, members participated in a range of public-facing exhibitions and open calls:

In partnership with Hidden Door Festival, two Garvald artists were invited to show work during the venue launch, marking a new relationship with a key arts organisation.

The Create Inclusion Project with Edinburgh Printmakers, funded by Creative Scotland, concluded in Summer 2024. Three Garvald artists took part in this residency, with a final exhibition scheduled for August 2025. All three artists have since been given a year’s membership and are eager to continue, although further funding is required.

GARVALD EDINBURGH
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -

An additional creative exchange took place with Project Ability, which included a February 2025 residency by artist Cameron Morgan. He visited two Garvald sites, sketched portraits of members, and published a small collection of the work.

In total, the exhibitions programme generated income across multiple venues and built valuable partnerships that enhance Garvald’s visibility, community engagement and fundraising potential. These efforts pose important questions for the organisation: How can we sustain and grow these connections? How do we show our appreciation for those who support our work?

These are positive challenges, and evidence of a service that is not only responsive and caring, but outward-looking and engaged in the cultural life of the city.

Staff and Volunteers

We are proud to have a dedicated team of staff who bring skill, compassion and creativity to their roles. Independent benchmarking has shown our employment terms to be strong compared with others in the sector, and we continue to invest in professional development, fair conditions and a supportive workplace culture.

This year, training included further rollout of autism awareness and Positive Behaviour Support essential for high-quality and responsive care.

Our volunteers also play an important part in the Garvald community, offering time, experience and enthusiasm that adds real value to members’ experience.

Financial Review & Outlook

Our Finance and Risk Committee met regularly, working closely with the senior team to review budgets, income and risk. Careful stewardship of resources remains essential in a period of rising costs and sector-wide uncertainty.

We are grateful to all our staff for their ongoing diligence, and to the Garvald Trust for its exceptional support with capital investment and project development.

We continue to monitor future funding and sustainability closely, with a focus on maintaining quality while meeting growing demand.

Risk Management & Governance

The Board and its committees continued to provide close oversight throughout the year. Our governance structures ensure effective scrutiny of financial and operational matters, while also supporting long-term planning. Risks are reviewed regularly, with particular attention given to staffing, demand management and financial resilience.

Property, Premises & Infrastructure

This year saw significant investment. In December 2024, the Garvald Trust purchased the Phoenix Centre, which we now lease as our new head office. Officially opened in March, the centre offers training, meeting and office space and provides capacity for future development.

We also made progress on building improvements at existing sites. Roofing and render work continued at Waterside, and at Gorgie we completed a complex accessibility project to install automatic door openers for two of our busiest workshops, which has greatly improved access and independence for members and staff with mobility needs.

A full condition survey of all buildings was commissioned to inform a robust long-term maintenance plan.

 

GARVALD EDINBURGH
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -

Strategic Priorities / Looking Ahead

With support from Animate Consulting, we began developing a new five-year strategy, to be launched later in 2025. The process has been inclusive, involving members, staff, trustees and families.

The strategy will shape how we respond to external pressures, support growth, and continue to provide outstanding day services rooted in creativity, community and care.

Thank You to Supporters

We are deeply grateful to all those who support our work; from individual donors and families to volunteers, businesses, and community partners. Your belief in what we do helps us go further and reach more people.

Funders & Supporters List

We especially thank the following for their financial support in 2024–25:

Additional funders and supporters are acknowledged in our financial statements.

Financial review

 

For the year ended 31 March 2025, the Statement of Financial Activities shows an overall deficit of £161,217 (2024 deficit of £135,023). Overall funds have reduced to £2,840,802 (2024 - £3,002,019)

 

Of these funds £655,443 are available as unrestricted funds (2024 - £731,565) with, as detailed in the notes to the accounts, designated funds of £2,144,714 (2024 - £2,202,239) and restricted funds £40,645 (2024 - £68,215).

It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to at least three months' general expenditure. The directors believe that maintaining reserves at this level ensures that, in the event of a significant reduction in funding, the charity can sustain its current activities while exploring opportunities to secure additional funding.

The Directors have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

 

The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association.

GARVALD EDINBURGH
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -

The directors who served during the year and up to the date of signature of the financial statements were:

A Swift
(Resigned 5 December 2024)
L Naumann
(Resigned 5 December 2024)
R Walley
(Resigned 5 June 2025)
R Stewart
(Resigned 20 February 2025)
A Hackland
T Ritchie
(Resigned 5 December 2024)
Dr C Millen
(Resigned 20 February 2025)
B Goodfellow
L Brown
(Appointed 22 August 2024)
W R Campbell
(Appointed 22 August 2024)
Mr C MacDougall D'ath
(Appointed 10 May 2025)
Ms H Rajgopaul
(Appointed 6 August 2025)
S Campbell
(Appointed 19 August 2025)

The directors are appointed in accordance with the Articles of Association. Trustees are recruited whose skills compliment the Board.

A board of no fewer than six and no more than twelve directors, who meet as they see fit, administer the charity.

 

Responsibility for the management of day-to-day operations is delegated to a Chief Executive Officer. The CEO is supported by senior managers from each of the 4 main sites. This, together with the Finance Manager and Company Secretary, constitutes the senior management team. This group meets regularly and ensures consistency of practice and policy implementation across the organisation.

Appropriate induction is given to director on appointment, Training and/or development in relevant areas is offered to directors and the need and opportunity arise.

The Board reviews remuneration levels on an annual basis taking into account levels of inflation, market rates and affordability.

Duty of Candour Reporting

Garvald Edinburgh has produced a report on duty of candour which is available on our website. No incidents were reported during the year.

GARVALD EDINBURGH
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
Statement of directors' responsibilities

The directors who also act as trustees for the charitable activities of Garvald Edinburgh are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the directors are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Thomson Cooper be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The directors' report was approved by the Board of Directors.

W R Campbell
Director
12 December 2025
GARVALD EDINBURGH
INDEPENDENT AUDITOR'S REPORT
TO THE DIRECTORS OF GARVALD EDINBURGH
- 8 -

Opinion

We have audited the financial statements of Garvald Edinburgh (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the directors' report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

GARVALD EDINBURGH
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF GARVALD EDINBURGH
- 9 -
Responsibilities of directors

As explained more fully in the statement of directors' responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was capable of detecting irregularities, including fraud

We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: existence and timing of recognition of income, posting of unusual journals along with complex transactions and non-compliance with laws and regulations. We discussed these risks with management, designed audit procedures to test the timing and existence of revenue and tested a sample of journals to confirm they were appropriate. In addition, we reviewed areas of judgement for indicators of management bias to address these risks.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the officers and other management (as required by the auditing standards).

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the officers and other management (as required by the auditing standards). We focused on specific laws and regulations which may have a direct material effect on the financial statements or operation of the charity, including the Charities and Trustees Investment (Scotland) Act 2005, regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended), and the Care Inspectorate.

 

We assessed the extent of compliance of the laws and regulations identified above by inspecting any legal correspondence, the Care Inspectorate report and making enquiries of management.

 

We reviewed the laws and regulations in areas that directly affect the financial statements including financial and taxation legislation and considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

With the exception of any known or possible non-compliance with relevant and significant laws and regulations, and as required by the auditing standards, our work in respect of these was limited to enquiry of the officers and management of the charity.

We communicated identified laws and regulations and potential fraud risks throughout our team and remained alert to any indications of non-compliance or fraud throughout the audit. However the primary responsibility for the prevention and detection of fraud rests with the trustees.

GARVALD EDINBURGH
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF GARVALD EDINBURGH
- 10 -

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

 

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charity’s directors, as a body, in accordance with Section 44(1)(c) of the Charities and Trustees Investment (Scotland) Act and regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Fiona Haro (Senior Statutory Auditor)
for and on behalf of Thomson Cooper
Statutory Auditor
Edinburgh
16 December 2025

Thomson Cooper is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

GARVALD EDINBURGH
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
Current financial year
Unrestricted
Unrestricted
Restricted
Total
Total
funds
funds
funds
general

2025
2025
2025
2025
2024
Notes
£
£
£
£
£
Income and endowments from:
Donations and legacies
2
5,397
-
1,897
7,294
28,451
Charitable activities
3
4,036,706
-
68,857
4,105,563
3,629,866

Investments

4
7,977
-
-
7,977
10,190
Other income
5
-
-
-
-
15,224
Total income
4,050,080
-
70,754
4,120,834
3,683,731
Expenditure on:

Raising funds

6
14,266
-
-
14,266
10,981
Charitable activities
7
4,087,099
112,135
68,551
4,267,785
3,807,773
Total expenditure
4,101,365
112,135
68,551
4,282,051
3,818,754
Net (outgoing)/incoming resources before transfers
(51,285)
(112,135)
2,203
(161,217)
(135,023)
Gross transfers between funds
(24,836)
54,609
(29,773)
-
-
Net expenditure for the year/
Net movement in funds
(76,121)
(57,526)
(27,570)
(161,217)
(135,023)
Fund balances at 1 April 2024
731,565
2,202,239
68,215
3,002,019
3,137,042
Fund balances at 31 March 2025
655,444
2,144,713
40,645
2,840,802
3,002,019

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.
GARVALD EDINBURGH
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
Prior financial year
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
general

2024
2024
2024
2024
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
2
20,451
-
8,000
28,451
Charitable activities
3
3,577,054
-
52,812
3,629,866

Investments

4
10,190
-
-
10,190
Other income
5
15,224
-
-
15,224
Total income
3,622,919
-
60,812
3,683,731
Expenditure on:

Raising funds

6
10,981
-
-
10,981
Charitable activities
7
3,631,929
114,447
61,397
3,807,773
Total expenditure
3,642,910
114,447
61,397
3,818,754
Net (outgoing)/incoming resources before transfers
(19,991)
(114,447)
(585)
(135,023)
Gross transfers between funds
(184,757)
184,757
-
-
Net movement in funds
(204,748)
70,310
(585)
(135,023)
Fund balances at 1 April 2023
936,313
2,131,929
68,800
3,137,042
Fund balances at 31 March 2024
731,565
2,202,239
68,215
3,002,019
GARVALD EDINBURGH
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 13 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
2,044,714
2,082,008
Current assets
Stocks
14
12,113
8,631
Debtors
15
617,711
609,828
Cash at bank and in hand
477,808
532,279
1,107,632
1,150,738
Creditors: amounts falling due within one year
16
(240,344)
(159,527)
Net current assets
867,288
991,211
Total assets less current liabilities
2,912,002
3,073,219
Provisions for liabilities
16
(71,200)
(71,200)
Net assets
2,840,802
3,002,019
Income funds
Restricted funds
19
40,645
68,215
Unrestricted funds
Designated funds
21
2,144,713
2,202,239
General unrestricted funds
655,444
731,565
2,800,157
2,933,804
2,840,802
3,002,019

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

The financial statements were approved by the Directors on 12 December 2025
W R Campbell
Trustee
Company registration number SC060926
GARVALD EDINBURGH
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
25
12,393
(330,935)
Investing activities
Purchase of tangible fixed assets
(74,841)
(64,525)
Investment income received
7,977
10,190
Net cash used in investing activities
(66,864)
(54,335)
Net cash generated from financing activities
-
-
Net decrease in cash and cash equivalents
(54,471)
(385,270)
Cash and cash equivalents at beginning of year
532,279
917,549
Cash and cash equivalents at end of year
477,808
532,279
GARVALD EDINBURGH
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 15 -
1
Accounting policies
Charity information

Garvald Edinburgh is a private company limited by guarantee incorporated in Scotland. The registered office and principal place of business is 454/1 Gorgie Road, Edinburgh, EH11 2NR.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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).

The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Consequently, the Directors continue to adopt the going concern basis of accounting in preparing these financial statements. The Trustees have considered a period of at least 12 months from the date of the approval of the accounts when assessing the going concern basis.

1.3
Charitable funds

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

Restricted funds are subject to specific conditions by donors or grantors 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.

1.4
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.

Donations are recognised when the charity has evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Entitlement usually arises immediately upon receipt, however, in the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

GARVALD EDINBURGH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 16 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

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

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:

Social Investment
Not depreciated
Tenants Improvements
Straight line over the life of the lease
Workshop Equipment
5 year straight line
Fixtures and fittings
5 year straight line
Motor vehicles
3 year straight line
Office Equipment
5 year straight line

Property held as social investments are not depreciated as the directors deem the depreciable cost to be immaterial.

 

The directors estimate that the residual value of the property is not materially lower than its carrying value in the balance sheet as the charity has a policy of regular maintenance and repair which ensures the building is kept in good condition.

 

The residual value is estimated by considering similar properties of an age and state of repair equivalent to that anticipated at the end of the property's deemed expected useful life of not more than twenty years.

 

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 the statement of financial activities.

1.7
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).

1.8
Stocks

Stocks is included at the lower of cost or net realisable value after due regard for obsolete or slow moving stock.

 

Donated goods for resale are recognised at fair value on initial recognition, being the expected proceeds from sale less the expected costs of sale. Where it is impractical to estimate the fair value, the value to the charity of the donated goods sold is recognised as income when sold.

GARVALD EDINBURGH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 17 -

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The charity only has financial assets and financial 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 with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less payments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

Basic financial assets

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

Basic financial liabilities

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 amount after allowing for any trade discounts due.

 

Grant income is deferred where the grant is subject to performance-related conditions and is received in advance of delivering services required. Where grant income is deferred it is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance related conditions that limit recognition are met.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11
Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.12
Retirement benefits

The charity operates two defined contribution pension schemes. The assets of the pension schemes are held separately from those of the charity in an independently administered fund. The pension costs charged in the financial statements represent the contribution payable to the pension schemes by the charity during the year.

GARVALD EDINBURGH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 18 -
2
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
general
general
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
5,397
1,897
7,294
20,451
8,000
28,451
3
Charitable activities

 

 

2025
2024
£
£

Sale of goods

191,720
187,722
Services provided under contract
3,806,229
3,352,116
Performance related grants
89,307
68,812
Ancillary trading income
12,215
12,190
Charitable rental income
5,876
6,779
Other income
216
2,247
4,105,563
3,629,866
Analysis by fund
Unrestricted funds - general
4,036,706
3,577,054
Restricted funds
68,857
52,812
4,105,563
3,629,866
4

Investments

2025
2024
£
£
Interest receivable
7,977
10,190
5
Other income
Total
Total
2025
2024
£
£
Insurance refund
-
15,224
GARVALD EDINBURGH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 19 -
6

Raising funds

Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising and publicity
Fundraising agents
14,266
10,981
7
Expenditure on charitable activities
Total
Total
2025
2024
£
£
Direct costs
Staff costs
2,901,787
2,640,411
Depreciation and impairment
112,135
114,447
Premises costs
632,616
491,334
Running costs
313,598
281,414
Travel and training costs
49,907
46,843
Enter ac910 in database
4,576
-
4,014,619
3,574,449
Share of support and governance costs (see note 8)
Support
179,576
185,080
Governance
73,590
48,244
4,267,785
3,807,773
Analysis by fund
Unrestricted funds - general
4,087,099
3,631,929
Unrestricted funds - designated
112,135
114,447
Restricted funds
68,551
61,397
4,267,785
3,807,773
GARVALD EDINBURGH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 20 -
8
Support costs
Support costs
Governance costs
2025
Basis of allocation
£
£
£
Staff costs
168,654
-
168,654

Direct

Running costs

7,389
-
7,389

Floor space

Interest and finance charges

3,533
-
3,533

Interest charges

Audit fees
-
8,400
8,400
Governance
Legal and professional
-
65,190
65,190
Governance
179,576
73,590
253,166
Analysed between
Charitable activities
179,576
73,590
253,166
Support costs
Governance costs
2024
Basis of allocation
Staff costs
176,256
-
176,256

Direct

Running costs

5,464
-
5,464

Floor space

Interest and finance charges

3,360
-
3,360

Interest charges

Audit fees
-
9,990
9,990
Governance
Legal and professional
-
38,254
38,254
Governance
185,080
48,244
233,324
Analysed between
Charitable activities
185,080
48,244
233,324
185,080
48,244
233,324

Governance costs includes payments to the auditors of £8,400 (2024- £9,990) for audit fees.

9
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
8,400
9,990
Depreciation of owned tangible fixed assets
112,135
114,447
10
Directors

None of the directors (or any persons connected with them) received any remuneration or benefits, or claimed expenses from the charity during the year (2024 - £nil).

GARVALD EDINBURGH
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 21 -
11
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Management & Administration
7
12
Day Staff
145
137
Total
152
149
Employment costs
2025
2024
£
£
Wages and salaries
2,690,998
2,481,040
Social security costs
196,783
172,042
Other pension costs
182,660
163,585
3,070,441
2,816,667
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The key management personnel are considered to be the chief executive, finance manager and the day service managers. The remuneration of key management personnel, including employer's contributions to national insurance and pensions is as follows.

2025
2024
£
£
Aggregate compensation
354,502
319,192
12
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 22 -
13
Tangible fixed assets
Social Investment
Tenants Improvements
Workshop Equipment
Fixtures and fittings
Motor vehicles
Office Equipment
Total
£
£
£
£
£
£
£
Cost
At 1 April 2024
135,000
3,151,346
78,492
18,818
103,006
65,559
3,552,221
Additions
-
7,647
31,341
-
31,000
4,853
74,841
Disposals
-
-
-
-
(12,630)
-
(12,630)
At 31 March 2025
135,000
3,158,993
109,833
18,818
121,376
70,412
3,614,432
Depreciation and impairment
At 1 April 2024
-
1,205,398
77,432
18,818
103,006
65,559
1,470,213
Depreciation charged in the year
-
100,548
1,254
-
10,333
-
112,135
Eliminated in respect of disposals
-
-
-
-
(12,630)
-
(12,630)
At 31 March 2025
-
1,305,946
78,686
18,818
100,709
65,559
1,569,718
Carrying amount
At 31 March 2025
135,000
1,853,047
31,147
-
20,667
4,853
2,044,714
At 31 March 2024
135,000
1,945,948
1,060
-
-
-
2,082,008
14
Stocks
2025
2024
£
£
Finished goods and goods for resale
12,113
8,631
15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
440,489
523,465
Other debtors
133,175
12,262
Prepayments and accrued income
44,047
74,101
617,711
609,828
GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 23 -
16
Creditors: amounts falling due within one year
2025
2024
£
£
Other taxation and social security
42,772
37,784
Trade creditors
95,680
52,464
Other creditors
24,679
22,066
Accruals and deferred income
77,213
47,213
240,344
159,527
Provisions for liabilities
2025
2024
£
£
Dilapidation Provision
71,200
71,200
Movements on provisions:
Dilapidation Provision
£
At 1 April 2024 and 31 March 2025
71,200

Dilapidations are provided for on leased property where there is a clause in the lease to return the property to its original state on expiry of the lease. The provision is based on an assessment by the Trustees of the estimated costs to bring the properties back to their original condition.

18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
182,660
163,585

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 24 -
19
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

For the year ended 31 March 2025
Movement in funds
Balance at
1 April 2024
Incoming resources
Resources expended
Transfers
Balance at
31 March 2025
£
£
£
£
£
Garvald Bakers
10,353
3,420
-
(13,773)
-
Artist Professional development
3,837
-
(2,937)
-
900
Adapt and Thrive
30
-
-
(30)
-
Bereavement Project
1,450
4,225
(4,000)
-
1,675
Print making workshop and equipment
11,945
-
(11,945)
-
-
Electric Door Openers & Adjustable Sink
-
10,600
-
-
10,600
Art Exhibition
8,000
-
-
(8,000)
-
Waterside workshop
13,500
7,000
(20,500)
-
-
Canteen redecoration
1,000
-
(1,000)
-
-
Mayfield Accessible Toilets project
6,000
-
-
-
6,000
Orwell Arts & Mayfield House Canteen Equipment
-
7,970
-
(7,970)
-
Mayfield Workshops
-
4,000
(4,000)
-
-
Garvald Trust
-
19,597
(19,597)
-
-
Gardening Groups
-
2,675
(2,675)
-
-
Toilet upgrade Gorgie
-
9,370
-
-
9,370
Sensory seating
-
1,897
(1,897)
-
-
68,215
70,754
(68,551)
(29,773)
40,645
GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
19
Restricted funds
(Continued)
- 25 -
For the year ended 31 March 2024
Movement in funds
Balance at
1 April 2023
Incoming resources
Resources expended
Transfers
Balance at
31 March 2024
£
£
£
£
£
Staff training
-
12,291
(12,291)
-
-
Staff travel
-
373
(373)
-
-
Garvald Bakers
10,353
-
-
-
10,353
Artist Professional development
6,765
1,353
(4,281)
-
3,837
Adapt and Thrive
34,482
-
(34,452)
-
30
Bereavement Project
1,200
250
-
-
1,450
Print making workshop and equipment
-
-
-
-
11,945
Art Exhibition
-
-
-
-
8,000
Waterside workshop
-
-
-
-
13,500
Canteen redecoration
-
-
-
-
1,000
Mayfield Accessible Toilets project
6,000
-
-
-
6,000
Gardening Groups
10,000
-
(10,000)
-
-
68,800
14,267
(61,397)
-
68,215

Garvald Bakers

Funds were received towards costs of baking trays and an adjustable workbench for the Gorgie Bakery.

 

Artists Professional Development

Funding from Creative Scotland to support the professional development of three talented learning disabled artists.

 

Adapt and Thrive

Funding from the Scottish Government to be used towards setting up an additional workshop at Mayfield.

 

Bereavement Project

Funding provided by Edinburgh Napier University to create a film about the effects of bereavement on our members.

 

Printmaking workshop and equipment

Funding for the set up of an additional workshop at the Mayfield House site.

 

Electric door openers and adjustable sink

Funding from Graham Trust, Bruce Wake Charity, Murgitroyd Foundation, Screwfix Foundation, SW Community Grants Fund supported by the City of Edinburgh Council, the Beatrice Laing Trust to fund new electric doors and adjustable sinks at Gorgie.

 

Art Exhibition

Funding to enable Garvald Artists work to be exhibited at various exhibitions throughout the year.

GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
19
Restricted funds
(Continued)
- 26 -

Waterside Workshops

Funding and donations that contributed towards the general running costs of the Waterside workshop.

 

Canteen redecoration

Funding to complete the redecoration of the Gorgie Road canteen following roof repairs works.

 

Mayfield Accessible Toilets project

Funds towards the cost of enlarged toilet doors at Mayfield Centre.

 

Orwell Arts and Mayfield House Canteen Equipment

Funding from the Schuh Trust and the Morrisons Foundation towards the cost of a replacement cooker, overhead extractor canopy, convection oven and workbench.

 

Mayfield Workshops

Funding and donations towards the general running costs of the Mayfield workshops.

 

Garvald Trust

Funding towards staff training.

 

Gardening groups

Funding from D Oyly Carte Charitable Trust for the four gardening groups.

 

Toilet upgrade Gorgie

Funding from Oliver Ford Foundation towards upgrade of toilet facilities at Gorgie.

 

Sensory seating

Funding from Rotary Club of Dalkeith towards sensory seating at Mayfield House.

20
Unrestricted Funds

These are unrestricted funds which are material to the charity's activities.

Movement in funds
Balance at
1 April 2024

Incoming resources

Resources expended

Transfers

Balance at
31 March 2025
£
£
£
£
£
General funds
731,565
4,050,080
(4,101,365)
(24,836)
655,444
Movement in funds
Balance at
1 April 2023

Incoming resources

Resources expended

Transfers

Balance at
31 March 2024
£
£
£
£
£
General funds
936,313
3,622,919
(3,642,911)
(184,756)
731,565

The 2024 unrestricted and designated funds have been restated to correctly accounts for the Vehicle fund. This fund was set up in 2024 for the replacement of the vehicles. Funds of £20,232 were allocated from fundraising in 2023 and the fundraising income from the art exhibition from 2024 of £8,000 was designated for the vehicle fund with the deficit covered by the unrestricted funds. The 2024 opening balance has been restated to designate the fund correctly.

GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 27 -
21
Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Balance at
1 April 2023
Resources expended
Transfers
Balance at
1 April 2024
Resources expended
Transfers
Balance at
31 March 2025
£
£
£
£
£
£
£
Other fixed assets
136,377
(317)
-
136,060
(11,587)
67,194
191,667
Tenants improvements
1,995,552
(114,129)
64,525
1,945,947
(100,548)
7,647
1,853,046
Property repair fund
-
-
100,000
100,000
-
-
100,000
Vehicle Fund
-
-
-
20,232
-
(20,232)
-
2,131,929
(114,446)
164,525
2,202,239
(112,135)
54,609
2,144,713

Other fixed assets

This fund has been set up to carry the value of the freehold property and all fixed assets with the exception of tenants improvements.

 

Tenant's improvements

The purpose of this fund is to carry the value of the improvements made to the properties leased by the charity.

 

Property repair fund

This fund has been set up to fund future repairs of all properties.

 

Vehicle fund

This fund was set up in 2024 for the replacement of the vehicles. Funds of £20,232 were allocated from fundraising in 2023 and the fundraising income from the art exhibition from 2024 of £8,000 was designated for the vehicle fund with the deficit covered by the unrestricted funds. The 2024 opening balance has been restated to designate the fund correctly.

GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 28 -
22
Analysis of net assets between funds
Unrestricted funds
Designated funds
Restricted funds
Total
2025
2025
2025
2025
£
£
£
£
Fund balances at 31 March 2025 are represented by:
Tangible assets
-
2,044,714
-
2,044,714
Current assets/(liabilities)
726,643
100,000
40,645
867,288
Provisions
(71,200)
-
-
(71,200)
655,443
2,144,714
40,645
2,840,802
Unrestricted funds
Designated funds
Restricted funds
Total
2024
2024
2024
2024
£
£
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
-
2,082,008
-
2,082,008
Current assets/(liabilities)
822,996
100,000
68,215
991,211
Provisions
(71,200)
-
-
(71,200)
751,796
2,182,008
68,215
3,002,019
GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 29 -
23
Operating lease commitments
Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
176,475
176,475
Between two and five years
500,763
635,238
In over five years
466,000
508,000
1,143,238
1,319,713
GARVALD EDINBURGH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 30 -
24
Related party transactions
Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Four close relatives of three Directors received remuneration in the period as employees; all of whom were employed under normal terns and conditions. Total salary paid was £40,811 (2024 : £56,314).

25
Cash generated from/(absorbed by) operations
2025
2024
£
£
Deficit for the year
(161,217)
(135,023)
Adjustments for:
Investment income recognised in statement of financial activities
(7,977)
(10,190)
Depreciation and impairment of tangible fixed assets
112,135
114,447
Movements in working capital:
(Increase)/decrease in stocks
(3,482)
6,289
(Increase) in debtors
(7,883)
(233,877)
Increase in creditors
80,817
27,419
(Decrease)/increase in provisions
-
(100,000)
Cash generated from/(absorbed by) operations
12,393
(330,935)
26
Analysis of changes in net funds

The charity had no material debt during the year.

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