The notes on pages 2 to 7 form part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Building Futures Galloway (Training) Limited is a private company limited by shares incorporated in Scotland. The registered office is The Workshop, 4 Bruce Street, Whithorn, Newton Stewart, DG8 8PY. The principal place of business is The Old Town Hall, 67 George Street Whithorn DG8 8NU.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and 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.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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

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

The average monthly number of persons (including directors) employed by the company during the year was:

The parent charitable company, Building Futures Galloway Limited own all the plant, equipment and tools which are used by the Company. The Company operates from premises leased by the parent charitable company.

During the period to 31 March 2026 the Company sold to Building Futures Galloway Limited, its parent charitable company £93,435 of services (2025: £170,350). At the period end an amount of £2,989 (2025: £8,280) was owing to Building Futures Galloway Limited.

Building Futures Galloway (Training) Limited and its parent, Building Futures Galloway Limited have a number of relationships with The Whithorn Trust, a charity, being:

• educational partnership for training young people, which related to the charitable aims of the two charities, and fulfil the aspirations of the Memorandum of Understanding governing the relations between the two charities.

• commercial contracts offered by The Whithorn Trust to the construction sector, which are publicly advertised and some have been won by Building Futures Galloway (Training) Limited after competitive tendering.

• to benefit from economies on office and other administrative costs for both charities, some administrative services are provided through job shares and secondments from The Whithorn Trust to the BFG Group. In addition there are some benefits provided at no cost, such as shared accommodation and volunteer managerial services.

Dr Janet Brennan, a trustee of The Whithorn Trust was also appointed as a trustee for Building Futures Galloway Limited from October 2025. In addition Julia Muir Watt, an employee of The Whithorn Trust provided volunteer management services to the Building Futures Galloway group during 2025/26. The two charities and subsidiaries are therefore considered related parties.

During the year Building Futures Galloway (Training) Limited received partner grant funding and charged The Whithorn Trust for renovation works on 9 High Street, Whithorn, totalling £64,987 (2025: £93,360). At the year end £600 was owed to Building Futures Galloway (Training) Limited.

During the year Building Futures Galloway (Training) Limited received partner grant funding from The Whithorn Trust for a Schools project, totalling £27,266 (2025: £10,250).

A shopfront contract on The Whithorn Trust premises was won by competitive tender by Building Futures Galloway (Training) Limited. During the year Building Futures Galloway (Training) Limited charged £26,971 (2025: £90,358) for these services.

A property known as the Slaughter House is owned by Julia Muirr Watt, and leased to The Whithorn Trust. A contract for works on the property was publicly advertised and won by Building Futures Galloway (Training) Limited. During the year Building Futures Galloway/Training Limited charged £41,667 for these services.

In addition during the year Building Futures Galloway (Training) Limited received the following from The Whithorn Trust - £1,812 for thatching training, and £6,371 for refitting windows.

Glasserton Kirk, a further property owned by Julia Muir Watt had works undertaken on it during the year by Building Futures Galloway (Training) Limited of £4,956 (2025: £Nil).

Julia Muir Watt is the owner of a property called The Smiddy which is leased to BFG at no cost. During the year the training subsidiary had building related expenses in relation to this property of £2,106.

Building Futures Galloway Limited, a company limited by guarantee incorporated on 4th March 2022, owns 100% share capital of Building Futures Galloway (Training) Limited.

The smallest and largest group in which the results are consolidated are Building Futures Galloway Limited.

Building Futures Galloway Limited is a charity registered with OSCR under charity number SC052261. Its registered office is at 4 Bruce Street, Whithorn, DG8 8PY.