REGISTERED COMPANY NUMBER: SC480855 (Scotland)

REGISTERED CHARITY NUMBER: SC045000

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

ALL ROADS LEAD TO WHITHORN

Page

Report of the Trustees

1

to

6

Statement of Trustees' Responsibilities

7

Independent Examiner's Report

8

Statement of Financial Activities

9

Balance Sheet

10

to

11

Notes to the Financial Statements

12

to

23

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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

All Roads Lead to Whithorn has the twin objectives of celebrating Whithorn's heritage with improvements to community well-being.

The project the charity has at the New Town Hall, Whithorn, to save the C-Listed building and to create a community fitness suite and multi-purpose hall, underpinned by income from a bunkhouse serving the Whithorn Way walking route, satisfies both these objectives.

Likewise, the saving of the long-empty and very prominent Georgian building at the former Grapes Hotel and its reuse as affordable housing, with very high standards of renewable heating and insulation, fulfils our charity's objectives.

This report provides an overview of the activities and operational performance of All Roads Lead to Whithorn (ARLW) across our four main operational areas: the New Town Hall, Bunkhouse, Gym, and Community Affordable Housing (The Grapes). While the financial year 2024-25 has presented significant challenges, the Board remains committed to our charitable objectives and is implementing a strong recovery plan with professional support.

Public benefit

The trustees have referred to the guidance contained in the Office of the Scottish Charity Regulator's general guidance on public benefit when reviewing their objectives and in planning their future activities. In particular, the trustees consider how planned activities will contribute to the objectives they have set.

ACHIEVEMENTS AND PERFORMANCE

Operational Summary

The New Town Hall

The New Town Hall has continued to serve as the heart of our community activities. The building has been well utilised by local groups, organisations, and for both private and community events throughout the year. Key activities include:

- Community Events: Regular events such as the weekly community free lunches, annual Flower Show, community celebrations, school events, dance classes and private party bookings have kept the hall active and visible within Whithorn.

- Youth Group; Whithorn youth group held their weekly sessions and summer activities drop in events along with Hallowe'en party in the Hall.

- Corporate Events; Meetings and conferences also held with catering and digital connectivity.

- Educational Use: Study carrels remain available to Dumfries & Galloway High School pupils and staff for distance learning support, and to the public, with printing and assistance with online applications continued.

- Health and Wellness: The NHS Drug and Alcohol Service utilised the space for drop-in sessions, and the hall was activated as a community resilience centre during Storm Eowyn in January 2025, providing hot showers, food, charging facilities, and valuable community support.

- Social Prescriptions Scheme: This scheme continues to be well-received and utilised by local doctors and pharmacists.

The Gym

The gym facility has maintained its membership base and continues to offer accessible, affordable fitness provision to the community:

- Approximately 200 active members with discounted rates available for those unable to afford standard membership.

- Free memberships provided to local emergency services (fire fighters) and community organisations (boxing club, rowing club).

- Support for the social prescriptions scheme (Free GP and Pharmacist Prescribed Membership) with health-focused activities.

- Local PT offers gym sessions tailored to individual needs.

The gym has experienced some operational challenges with equipment requiring ongoing maintenance and repair, which the Board continues to address.

The Bunkhouse

The Bunkhouse has established itself as a quality accommodation provider with strong guest satisfaction. It continues to hold a four-star hostel award from VisitScotland and maintains excellent guest reviews, including a 9.2 rating on Booking.com in 2025. Recent months have seen around 47 unit nights, generating approximately £2,085 of income, with a high proportion of bookings now made directly through our website, which helps to reduce commission costs and protect margins.

However, overall bunkhouse income for the year is lower than in the previous financial year, reflecting the operational challenges set out in this report, including reduced staffing capacity to drive marketing and manage bookings consistently. The Board's recovery plan specifically focuses on rebuilding occupancy through targeted marketing, partnerships, and improved yield management, so that the bunkhouse can play the stronger income-generating role envisaged in our original business model.

The Whithorn Way

Phase 2 has been successfully completed of the extension to the Whithorn Way paths with a further phase 3 being developed in 2025/26 in coloration with another local organisation. To encourage visitors to our area to walk, cycle and explore and for our local community to enjoy fresh air and exercise in our beautiful countryside whilst improving connections within and beyond Whithorn.

Community Affordable Housing (The Grapes, 10-12 George Street)

The Grapes project continues to achieve its objectives of providing affordable, energy-efficient housing to local families:

- Two 3 bedroom residential units occupied by local families.

- High-performance insulation, secondary glazing, and renewable energy heating systems have proven economical to operate, protecting tenants from energy price volatility.

- Recognised by Scottish Empty Homes Partnership with an award for best use of empty homes to create social affordable housing (2023).

- Phase 2 Development: Currently at detailed design stage with building warrant in place, positioned for potential funding through the Borderlands Inclusive Growth Deal via Dumfries & Galloway Council.

- To be featured as one of the Architectural Heritage Fund projects as part of their 50th Anniversary celebrations.

The Challenging Year: Context and Response

Staffing Impact

The financial year 2024-25 has been exceptionally difficult for the organisation. A key member of staff who held primary responsibility for funding applications and strategic partnership development, took extended long-term leave during the year and subsequently resigned prior to returning. This loss of capacity significantly impacted our ability to pursue new funding opportunities and manage day-to-day operations at a critical moment when financial pressures were mounting.

Additional Operational Challenges

- Significant sub-floor water leak went undetected from October 2024 through January 2025, resulting in substantial water costs and costs to repair and resolve.

- Ongoing defects and maintenance issues requiring contractor engagement and coordination.

- Electricity cost pressures requiring Building Management System optimisation and contract renegotiation.

FINANCIAL REVIEW

Financial position

The financial statements for the year ended 31 March 2025 show total income of £95,725 and total expenditure of £170,012, resulting in a deficit of £74,287 for the year. Closing funds at the year-end were £2,983,823 in unrestricted reserves and £nil in restricted funds, with £2,615,101 held in tangible fixed assets and £440,412 held in investment property.

The trustees recognise that this year's result reflects an exceptionally challenging period, driven by increased running costs at the New Town Hall, the prolonged water leak from October 2024 to January 2025, and the loss of key staffing capacity in funding applications and business development. However, the significantly reduced deficit-less than 36% of the prior year-demonstrates the effectiveness of cost control measures put in place during the year and early progress from the recovery plan. The combination of cost discipline, professional business support from South of Scotland Enterprise, Just Enterprise and The Robertson Trust, and a phased recovery plan focused on the next 2-3 years provides a realistic and evidence-based route back towards break-even operations.

The trustees are closely monitoring cash flow, have strengthened financial reporting with new bookkeeping arrangements, and are actively pursuing new sources of largely unrestricted revenue funding alongside recruitment to key operational roles. Post year-end, additional funding has been secured to strengthen the charity's position.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use or invested in fixed assets or investment property should be maintained at a level equivalent to between three and six month's general expenditure (estimated at £50,000). The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Such reserves were in deficit by £13,409 at the year end and therefore the required level of reserves has not been maintained at the year end. Additional funding has been secured post year end.

FUTURE PLANS

Recovery Plan and Board Action

Professional External Support

Recognising the scale of the challenge and the need for specialised expertise, the organisation has secured substantial professional support:

South of Scotland Enterprise (SoSE)

- Awarded £25,000 in grant funding.

- Providing dedicated business planning support with regular board and operational engagement.

- SoSE has emphasised understanding of the financial position and realistic timescales for recovery (2-3 years).

- Assisting with strategic business planning and sustainability strategy.

Just Enterprise Programme with support from The Robertson Trust

- Providing 8 days of business support specifically focused on business recovery planning, marketing strategy, and realistic financial projections.

- Working directly with Board and management to develop operational improvements based on market realities.

Staffing and Recruitment Strategy

The organisation is pursuing a structured approach to future staffing:

- Development of three key roles : Charity Manager, Bunkhouse and Gym Coordinator, to be recruited alongside the existing Hospitality Support Worker.

- Recruitment underway to attract candidates with appropriate skills and experience.

- Prioritisation of sustainable staffing models aligned with realistic operational capacity.

- Risk of Staffing Cost: The Board recognise the risk of taking on additional staffing at this time, however we deem this to be necessary to give us the capacity we require to grow back towards a sustainable position.

Governance Strengthening

- Appointment of experienced new trustee (February 2025).

- Updated governance structures and processes following recent organisational changes.

- Enhanced financial oversight with new accounting systems and professional bookkeeping support.

- Constitutional amendments under consideration to expand trustee recruitment capacity.

Business Sustainability Initiatives

- Strategic price reviews to align income with market conditions (bunkhouse rates, hall hire pricing).

- Marketing campaign optimisation through specialist support.

- Revenue diversification through expanded event hosting and community facility use.

- Close monitoring of cash flow and financial performance with monthly reporting to Board.

Strong Underlying Model

Despite the challenges of this financial year, the Board recognises that ARLW has established a fundamentally strong operational model:

- Community Assets: Three substantial community assets-New Town Hall, Bunkhouse, Social Housing-that serve clear community needs and align with charitable objectives.

- Market Position: The Bunkhouse has achieved strong market positioning with positive guest feedback and four-star accreditation.

- Diversified Income: Multiple revenue streams including accommodation, gym membership, hall hire, and rental income.

- Heritage Impact: Successful conservation and repurposing of historic buildings reflecting community heritage.

- Social Impact: Continuing to deliver against charitable objects, promoting community wellbeing, heritage preservation, and addressing social disadvantage.

Conclusion

While 2024-25 has presented significant operational and financial difficulties, the Board is realistic about the challenges ahead: recruiting and bedding in a new staff team, increasing bunkhouse occupancy, rebuilding hall income, and securing revenue funding in a very competitive environment.

The loss of key staffing capacity at a critical time was an unforeseen circumstance that impacted the year's financial results. However, with professional support now in place from SoSE and Just Enterprise, supported by The Robertson Trust, a clear recovery plan is being implemented, and demonstrated commitment from the Board and remaining staff, ARLW is well-positioned to move beyond this difficult period.

The underlying strength of the organisation's model-demonstrated by the quality of our facilities, the genuine community need we address, and the positive feedback from service users-provides a solid foundation for recovery. With appropriate staffing and continued focus on financial discipline and operational excellence, the organisation is confident of achieving sustainable operations and renewed financial stability over a realistic 2-3 year timeframe.

The Board welcomes continued support from funders, partners, and the community as we navigate this recovery period.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The methods of recruiting and appointing new trustees are outlined in Articles 59-65 of the Memorandum and Articles of Association. In summary, new trustees can be recruited or co-opted via the Nominations Committee.

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.

Organisational structure

The charity holds regular governance and management meetings. Trustee meetings are held as required, minimally once per quarter, but generally more often.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC480855 (Scotland)

Registered Charity number

SC045000

Registered office

New Town Hall St. John Street

Whithorn

Newton Stewart

DG8 8PD

Trustees

B Amin

Mrs M E Clark (appointed 25/2/2025)

Mrs K W Currie

K R McElrea

C J Nicholson

Mrs H J Smith

J Wilson (resigned 22/4/2025)

Independent Examiner

Kevin Mowat CA

Galbraith Pritchards

20 Barns Street

Ayr

Ayrshire

KA7 1XA

Bankers

The Royal Bank of Scotland plc

30 Sandgate

Ayr

KA7 1BY

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 15 December 2025 and signed on its behalf by:

Mrs H J Smith - Trustee

The trustees (who are also the directors of All Roads Lead To Whithorn 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the 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 Charities 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, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.

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

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.

Kevin Mowat CA

The Institute of Chartered Accountants of Scotland

Galbraith Pritchards

20 Barns Street

Ayr

Ayrshire

KA7 1XA

17 December 2025

31/3/25

31/3/24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

4

Charitable activities

27,566

24,718

52,284

79,311

Other trading activities

2

29,326

-

29,326

39,226

Investment income

3

9,115

-

9,115

8,145

Other income

5,000

-

5,000

376

Total

71,007

24,718

95,725

127,058

EXPENDITURE ON

Raising funds

1,995

-

1,995

1,967

Charitable activities

5

Charitable activities

124,544

43,473

168,017

350,864

Total

126,539

43,473

170,012

352,831

Net gains/(losses) on investments

-

-

-

(5,999

)

NET INCOME/(EXPENDITURE)

(55,532

)

(18,755

)

(74,287

)

(231,772

)

Transfers between funds

18

63,819

(63,819

)

-

-

Net movement in funds

8,287

(82,574

)

(74,287

)

(231,772

)

RECONCILIATION OF FUNDS

Total funds brought forward

2,975,536

82,574

3,058,110

3,289,882

TOTAL FUNDS CARRIED FORWARD

2,983,823

-

2,983,823

3,058,110

31/3/25

31/3/24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

11

2,615,101

-

2,615,101

2,680,810

Investment property

12

440,412

-

440,412

370,000

3,055,513

-

3,055,513

3,050,810

CURRENT ASSETS

Debtors

13

7,904

-

7,904

13,424

Cash at bank

16,711

4,957

21,668

68,404

24,615

4,957

29,572

81,828

CREDITORS

Amounts falling due within one year

14

(38,024

)

(4,957

)

(42,981

)

(74,528

)

NET CURRENT ASSETS

(13,409

)

-

(13,409

)

7,300

TOTAL ASSETS LESS CURRENT LIABILITIES

3,042,104

-

3,042,104

3,058,110

CREDITORS

Amounts falling due after more than one year

15

(58,281

)

-

(58,281

)

-

NET ASSETS

2,983,823

-

2,983,823

3,058,110

FUNDS

18

Unrestricted funds

2,983,823

2,975,536

Restricted funds

-

82,574

TOTAL FUNDS

2,983,823

3,058,110

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 15 December 2025 and were signed on its behalf by:

H J Smith - Trustee

1.	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 at 31 March 2025 the charity had negative free reserves of £13,409. Post year end the charity has secured additional funding and it continues to operate. The Trustees are actively seeking additional funding.

The Trustees have assessed the Charity's ability to continue as a going concern and have reasonable expectation that the charity has adequate resources to continue in operational existence for the next twelve months. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

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.

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and equipment

-

20% on reducing balance

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).

INVESTMENT PROPERTY

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

TAXATION

The company is recognised by HMRC as a charity and is accordingly exempt from taxation on income which is applied for charitable purposes. Expenditure is inclusive of any VAT which cannot be recovered.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

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

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.

2.	OTHER TRADING ACTIVITIES

31/3/25

31/3/24

£

£

Fundraising events

617

1,815

Gym memberships

11,005

10,733

Boxing Club rent

1,200

1,200

Bunkhouse rents

13,102

17,600

Hall rents

3,402

7,878

29,326

39,226

3.	INVESTMENT INCOME

31/3/25

31/3/24

£

£

Rents received

9,115

8,145

4.	INCOME FROM CHARITABLE ACTIVITIES

31/3/25

31/3/24

Activity

£

£

Grants

Charitable activities

52,284

79,311

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

31/3/25

31/3/24

£

£

Dumfries and Galloway Council Regionwide Community Fund

-

3,750

Dumfries and Galloway Council Placement Plus

1,754

5,000

Social Enterprise

-

930

Dumfries and Galloway Community Led Local Development Fund

-

59,831

Third Sector Dumfries and Galloway Communities Mental Health and Wellbeing Fund

-

9,800

The National Lottery Community Fund

7,964

-

Garfield Weston Foundation

15,000

-

The Scottish Children’s Lottery Trust

4,000

-

Scottish Government

15,000

-

Other Grants

8,566

-

52,284

79,311

Dumfries and Galloway Council administers Regeneration Capital Grant Funds on behalf of the Scottish Government.

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

£

£

Charitable activities

163,582

4,435

168,017

6.	SUPPORT COSTS

Governance

costs

£

Charitable activities

4,435

Included in Governance costs is £3,500 + vat paid to independent examiners.

7.	NET INCOME/(EXPENDITURE)

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

31/3/25

31/3/24

£

£

Auditors' remuneration

-

398

Depreciation - owned assets

77,752

83,872

8.	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.

9.	STAFF COSTS

31/3/25

31/3/24

£

£

Wages and salaries

41,093

51,385

Other pension costs

816

864

41,909

52,249

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

31/3/25

31/3/24

Average number of employees

3

3

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

The company considers its key management personnel comprise the trustees and the general manager. The total employment benefits including employers National Insurance and employer pension contributions of the key management personnel were £26,058 (2024: £24,586).

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Charitable activities

-

79,311

79,311

Other trading activities

39,226

-

39,226

Investment income

8,145

-

8,145

Other income

376

-

376

Total

47,747

79,311

127,058

EXPENDITURE ON

Raising funds

1,967

-

1,967

Charitable activities

Charitable activities

180,144

170,720

350,864

Total

182,111

170,720

352,831

Net gains/(losses) on investments

(5,999

)

-

(5,999

)

NET INCOME/(EXPENDITURE)

(140,363

)

(91,409

)

(231,772

)

Transfers between funds

34,383

(34,383

)

-

Net movement in funds

(105,980

)

(125,792

)

(231,772

)

RECONCILIATION OF FUNDS

Total funds brought forward

3,081,516

208,366

3,289,882

TOTAL FUNDS CARRIED FORWARD

2,975,536

82,574

3,058,110

11.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

equipment

Totals

£

£

£

COST

At 1 April 2024

2,664,354

190,906

2,855,260

Additions

12,043

-

12,043

At 31 March 2025

2,676,397

190,906

2,867,303

DEPRECIATION

At 1 April 2024

105,878

68,572

174,450

Charge for year

53,285

24,467

77,752

At 31 March 2025

159,163

93,039

252,202

NET BOOK VALUE

At 31 March 2025

2,517,234

97,867

2,615,101

At 31 March 2024

2,558,476

122,334

2,680,810

12.	INVESTMENT PROPERTY

£

FAIR VALUE

At 1 April 2024

370,000

Additions

70,412

At 31 March 2025

440,412

NET BOOK VALUE

At 31 March 2025

440,412

At 31 March 2024

370,000

Investment property comprises of the former Grapes Hotel in Whithorn, which is a residential property let. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2025 by the trustees. The valuation was made on an open market value basis.

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

5,176

13,424

Prepayments

2,728

-

7,904

13,424