IRIS Accounts Production v23.3.0.418 Other Company accounts True false Pounds 1.4.22 31.3.23 31.3.23 FY FRS 102 Independent examiner Large and medium-sized companies regime for accounts Full Charities SORP true true false true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3564192022-03-31SC3564192023-03-31SC3564192022-04-012023-03-31SC3564192021-03-31SC3564192021-04-012022-03-31SC3564192022-03-31SC356419ns22:CharitableCompanyLimitedByGuarantee2022-04-012023-03-31SC356419ns15:PoundSterling2022-04-012023-03-31SC356419ns11:FRS1022022-04-012023-03-31SC356419ns11:IndependentExaminationCharity2022-04-012023-03-31SC356419ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-04-012023-03-31SC356419ns11:FullAccounts2022-04-012023-03-31SC356419ns11:CharitiesSORP2022-04-012023-03-31SC35641922022-04-012023-03-31SC356419ns16:EnglandWales2022-04-012023-03-31SC356419ns11:RegisteredOffice2022-04-012023-03-31SC356419ns22:Trustee22022-04-012023-03-31SC356419ns22:Trustee12022-04-012023-03-31SC356419ns22:Trustee32022-04-012023-03-31SC356419ns22:Trustee42022-04-012023-03-31SC356419ns22:Trustee52022-04-012023-03-31SC356419ns22:Trustee62022-04-012023-03-31SC356419ns22:Trustee72022-04-012023-03-31SC356419ns22:Trustee82022-04-012023-03-31SC356419ns22:Trustee92022-04-012023-03-31SC356419ns11:CompanySecretary12022-04-012023-03-31SC356419ns22:TotalUnrestrictedFunds2022-04-012023-03-31SC356419ns22:TotalRestrictedIncomeFunds2022-04-012023-03-31SC356419ns22:Activity82022-04-012023-03-31SC356419ns22:TotalUnrestrictedFundsns22:Activity82022-04-012023-03-31SC356419ns22:Activity8ns22:TotalRestrictedIncomeFunds2022-04-012023-03-31SC356419ns22:Activity82021-04-012022-03-31SC356419ns22:Activity92022-04-012023-03-31SC356419ns22:Activity9ns22:TotalUnrestrictedFunds2022-04-012023-03-31SC356419ns22:Activity9ns22:TotalRestrictedIncomeFunds2022-04-012023-03-31SC356419ns22:Activity92021-04-012022-03-31SC356419ns22:TotalUnrestrictedFunds2022-03-31SC356419ns22:TotalRestrictedIncomeFunds2022-03-31SC356419ns22:TotalUnrestrictedFunds2023-03-31SC356419ns22:TotalRestrictedIncomeFunds2023-03-31SC356419ns22:TotalUnrestrictedFundsns6:WithinOneYear2023-03-31SC356419ns22:TotalRestrictedIncomeFundsns6:WithinOneYear2023-03-31SC356419ns6:WithinOneYear2023-03-31SC356419ns6:WithinOneYear2022-03-31SC356419ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-04-012023-03-31SC356419ns6:FurnitureFittingsToolsEquipment2022-04-012023-03-31SC35641922022-04-012023-03-31SC35641912022-04-012023-03-31SC35641912021-04-012022-03-31SC356419ns6:OwnedAssets2022-04-012023-03-31SC356419ns6:OwnedAssets2021-04-012022-03-31SC356419ns22:TotalUnrestrictedFunds2021-04-012022-03-31SC356419ns22:TotalRestrictedIncomeFunds2021-04-012022-03-31SC356419ns22:TotalUnrestrictedFundsns22:Activity82021-04-012022-03-31SC356419ns22:Activity8ns22:TotalRestrictedIncomeFunds2021-04-012022-03-31SC356419ns22:Activity9ns22:TotalUnrestrictedFunds2021-04-012022-03-31SC356419ns22:Activity9ns22:TotalRestrictedIncomeFunds2021-04-012022-03-31SC356419ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-03-31SC356419ns6:FurnitureFittings2022-03-31SC356419ns6:FurnitureFittings2022-04-012023-03-31SC356419ns6:OwnedOrFreeholdAssetsns6:LandBuildings2023-03-31SC356419ns6:FurnitureFittings2023-03-31SC356419ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-03-31SC356419ns6:FurnitureFittings2022-03-31SC356419ns6:UnlistedNon-exchangeTradedns6:CostValuation2022-03-31SC356419ns6:Subsidiary12022-04-012023-03-31SC3564191ns6:Subsidiary12022-04-012023-03-31SC356419ns6:Subsidiary12023-03-31SC356419ns6:Subsidiary12022-03-31
REGISTERED COMPANY NUMBER: SC356419 (Scotland)
REGISTERED CHARITY NUMBER: SC041228














Report of the Trustees and

Financial Statements for the Year Ended 31 March 2023

for

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Report of the Trustees 1 to 5

Independent Examiner's Report 6

Statement of Financial Activities 7

Balance Sheet 8 to 9

Notes to the Financial Statements 10 to 18

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2023


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 2023. 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
Aims, Objectives and Activities
The company has been formed to benefit the community with the postcode units as defined in appendix 1 of the company's Memorandum and Articles of Association (a copy of which is available upon request from the Registered Office) with the following objects:

1) The advancement of community development, including the advancement of rural regeneration;
2) To provide within the Community recreational facilities, or organize recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended.
3) To advance the arts and/or culture;
4) To advance environmental protection and improvement in the Community through the provision, maintenance and/or improvement of public open spaces and other public amenities and other environmental and regeneration projects (but subject to appropriate safeguards to ensure that the public benefits so arising clearly outweigh any private benefit thereby conferred on private landlords);
5) To provide or assist in the provision of housing for people in necessitous circumstances within the Community;
6) To help young people, particularly those resident in the Community, to develop their physical, mental and spiritual capacities, such that they may grow to full maturity as individuals and as members of the society;
7) To advance heritage and/or preserve, for the benefit of the general public, the historical, architectural and constructional heritage that may exist in and around the Community in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest;
8) To advance citizenship and/or community development (including the promotion of civic responsibility and the promotion of the voluntary sector and/or the effectiveness or efficiency of charities and promotion of trade and industry);
9) To promote, establish, operate and/or support other similar schemes and projects of a charitable nature for the benefit of the community within the Community; but such that the company shall do so following principles of sustainable development.


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2023

ACHIEVEMENT AND PERFORMANCE
Charitable activities
April 2022 to March 2023 was challenging year for small charities with increased running costs and major reductions in grant funding. Thanks to the foundation work of previous years 22/3 saw a 28% increase in income from New Broom. This plus volunteer time from both directors and staff have allowed the Trust to operate despite the loss of HIE funding for development officer time.

Community Needs Survey 2021 this continues to guide the Trust in project priorities, firstly- Affordable housing followed by employment and training, with the environment, sustainability and climate change, health and wellbeing and community transport all following close behind. These priorities are now reflected in the Trust's active working groups each having a board member involved who reports back to the board on their activities.

The Affordable Housing group conducted an audit of vacant properties and housing stock in the winter Spring of 2022/3. Following a meeting of the Housing group a Regenerate Lochbroom group was formed to look specifically at empty properties and how they might be brought back into use. This group also facilitated public meetings to discuss the closure of the local nursing home.

The Employment and Training group set up an informal employment bank, putting workers in touch with employers. They were successful in applying for funding ( Foundation Scotland - EDF Corrie Mollie education fund) to cover training costs for group users and have recruited several local employers and potential workers.

Active Travel and Community Transport group - During 2022 LUCT took part in the Sustaining Choices programme supported by Planning Aid Scotland with funding from Paths for All and Hitrans. The programme facilitated community engagement to identify actions that could improve the way that we move around our community. Though focused on Active Travel (walking, wheeling and cycling) and accessibility, actions to improve community transport, parking and traffic calming measures were also identified. LUCT is now working with a number of organisations to deliver on those actions. In November 2022, LUCT was awarded funding through Sustrans' 'Places for Everyone' fund to develop a strategy for active travel and, in particular, confirm community appetite for a path that would link communities between Braemore Junction and Ardmair.

The environment and sustainability group successfully bid for funding to join a Highland wide waste reduction project the Highland Community Waste Partnership (HCWP). This three year project runs until March 2025 and is aimed at combatting climate change through waste reduction. The Trust employs a part time waste reduction development officer Catriona Scott, who has been running a wide range of initiatives, workshops and events for individuals and businesses in our area. This is a fully funded project, funded by the National Lottery, with 8 community groups as partners, led by Keep Scotland Beautiful.

The above project fits neatly with the ongoing work of the New Broom in diverting items from landfill. All funding from HIE ceased in 2021/2 this was retrospective funding the last claim for reimbursement being received in May 2022. New double glazed doors and the replacement of leaking single glazed windows was completed in the autumn of 2022 with the aim of double glazing the remaining 3 picture windows at some future date. The new upcycling posts created in 21/2, have been continued, we are most grateful to the Ullapool Harbour Trust for allowing us the use of the community workshop. PAT tested small electrical items and rejuvenated furniture and soft furnishings have expanded the range of goods for sale, in turn raising the quality of items donated. The steady increase in shop income will result in our becoming VAT registered in the year to come.

We have diverted some 20 tonnes of donations from landfill and have been able to support local groups, directly, through gifting them useful items, or by promoting their causes and fundraising initiatives within the shop.

The Community Pantry continued to ensure that good food did not go to waste. Through the Foodiverse Scheme Ullapool Tesco provided the Pantry with fruit, veg and bread and we also received locally grown garden surplus. The pantry is checked daily by volunteers and is free for all to make use of to donate their own surplus or take what they can make use of. Combatting food waste and food poverty in one small space.


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2023

During the year, UCT again acted as facilitator for the Community Benefit Fund (CBF) - funds which accumulate each year from a combination of Broom Power surplus income, donated interest from Lochbroom Community Renewables investors and gift aid. The projects supported this year were, Parish Hub - hardship fund, Ullapool and District Youth Club, Lochbroom Community Council's beach clean and Quay Street Play Park refurb. Scoraig Community Centre -equipment, Ullapool Sea Savers- accessible boat trips, Ullapool Golf course - junior golf equipment, Isle Martin Trust - croft house drainage, Welcome Ullapool - wildflower garden, Kindercroft - woodburner and junior sail equipment for Lochbroom Sailing Club. Thanks to the CBF panel, for their work in reviewing and scoring the fund applicants.

The Directors gratefully acknowledge our various funders, the goodwill and time of our many volunteers and the wider community for their continued support. In particular the Directors would like to thank Tim Gauntlett who was Chair Dec 2021 to Jan 2023 and Mamta Patel our current Chair.

FINANCIAL REVIEW
Financial review
Details of the financial results are set out in the following pages.

Substantial unrestricted reserves are necessary for management of cash-flow and in addition the charity continues to endeavour to attain a level of reserve that would permit 6 months expenditure to be met.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure, governance and management
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.

Ullapool Community Trust Ltd is a company limited by guarantee and not having a share capital, governed by it Memorandum and Articles of Association, incorporated on 11th March 2009, and is registered as a charity with the Office of the Scottish Charity Regulator. In the event of the company being wound up, members are required to contribute a sum not exceeding £1.00p.

The management of the company is the responsibility of the trustees (also referred to in this report and the financial statements as the directors) who are elected under the terms of the Memorandum and Articles of Association. New directors are elected annually at the AGM by vote in person or by proxy,

The company is a membership organisation and the members are responsible for electing the Board of Directors, which meets on a regular basis to consider the strategic decisions. The implementation is then delegated to employees.

Recruitment, appointment, induction and training of Directors
The trustees have the power to appoint and assume such other trustee as they feel necessary for the purpose of the administration of the Trust. New trustees are likely to be familiar with the work of the charity and its objectives.

New Trustees are expected to spend time with the existing trustees to familiarise themselves with:

The duties of Board Members

The main documents that set out the operational framework for the charity, including the Trust Deed and Memorandum and articles of Association

The work of the Trust and its finances, referring to the last annual accounts and recent Board Minutes.

The strategy that has been adopted.

The plans and objectives that flow from that strategy

The Charities and Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)

The overall management and policy decisions are the responsibility of the trustees who are appointed under the terms of the Trust Deed and Articles of Association.


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2023

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC356419 (Scotland)

Registered Charity number
SC041228

Registered office
28 Argyle Street
Ullapool
IV26 2UB

Trustees
M Patel Chair
E Cotton Treasurer (appointed 6.6.22)
T M Gauntlett
S C Leslie
B O'Hanrahan
B Muller
J N Tatchell (appointed 5.11.22)
A J Barry-Hirst (resigned 25.10.22)
L Bailey (resigned 25.10.22)

Company Secretary
S C Leslie

Independent Examiner
A Cumming
Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

DIRECTORS' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
Company law requires the Directors to prepare financial statements that five a true and fair view of the state of affairs of the charity at the end of the financial year and it surplus or deficit for the financial year. In doing so the directors are required to:

Select suitable accounting policies and then apply them consistently
Make sound 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 charity will continue in business

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies act 1985. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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


This report was approved by the Board and signed on its behalf by:


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Lochbroom & Ullapool Community Trust Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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

Approved by order of the board of trustees on 2 November 2023 and signed on its behalf by:





M Patel - Trustee

Independent Examiner's Report to the Trustees of
Lochbroom & Ullapool Community Trust Ltd

I report on the accounts for the year ended 31 March 2023 set out on pages seven to eighteen.

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.








A Cumming
The Institute of Chartered Accountants of Scotland

Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

2 November 2023

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Statement of Financial Activities
for the Year Ended 31 March 2023

31.3.23 31.3.22
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 1,048 6,120 7,168 3,285

Charitable activities 5
Charitable activities - 45,325 45,325 40,024

Other trading activities 3 77,572 - 77,572 60,421
Investment income 4 163 - 163 4
Total 78,783 51,445 130,228 103,734

EXPENDITURE ON
Raising funds 3,266 15 3,281 2,927

Charitable activities 6
Charitable activities 73,907 57,400 131,307 124,390
Depreciation 630 - 630 1,017
Total 77,803 57,415 135,218 128,334

NET INCOME/(EXPENDITURE) 980 (5,970 ) (4,990 ) (24,600 )
Transfers between funds 17 (9,027 ) 9,027 - -
Net movement in funds (8,047 ) 3,057 (4,990 ) (24,600 )

RECONCILIATION OF FUNDS
Total funds brought forward 191,948 6,078 198,026 222,626

TOTAL FUNDS CARRIED FORWARD 183,901 9,135 193,036 198,026

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 12 133,639 - 133,639 134,269
Investments 13 100 - 100 100
133,739 - 133,739 134,369

CURRENT ASSETS
Stocks 14 307 - 307 -
Debtors 15 3,664 - 3,664 1,263
Cash at bank and in hand 49,700 9,135 58,835 64,637
53,671 9,135 62,806 65,900

CREDITORS
Amounts falling due within one year 16 (3,509 ) - (3,509 ) (2,243 )

NET CURRENT ASSETS 50,162 9,135 59,297 63,657

TOTAL ASSETS LESS CURRENT
LIABILITIES

183,901

9,135

193,036

198,026

NET ASSETS 183,901 9,135 193,036 198,026
FUNDS 17
Unrestricted funds 183,901 191,948
Restricted funds 9,135 6,078
TOTAL FUNDS 193,036 198,026

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419)

Balance Sheet - continued
31 March 2023

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 2 November 2023 and were signed on its behalf by:





E Cotton - Trustee

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements
for the Year Ended 31 March 2023

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, with the exception of investments which are included at market value.

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

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

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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% depreciation on cost
Fixtures and fittings - 25% depreciation on cost

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

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

Fund accounting
Unrestricted funds 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.


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. DONATIONS AND LEGACIES
31.3.23 31.3.22
£    £   
Donations 5,532 1,204
Gift aid 736 1,181
Other income 900 900
7,168 3,285

3. OTHER TRADING ACTIVITIES
31.3.23 31.3.22
£    £   
Hub Sales 77,572 60,421

4. INVESTMENT INCOME
31.3.23 31.3.22
£    £   
Bank account interest 163 4

5. INCOME FROM CHARITABLE ACTIVITIES
31.3.23 31.3.22
Activity £    £   
Grants Charitable activities 45,325 40,024

Grants received, included in the above, are as follows:
31.3.23 31.3.22
£    £   
HIE - LDO Support - 14,495
SLF - Lael Forest - 4,864
HIE Hub Development Fund 5,021 12,565
Lochbroom Community Renewables 7,000 -
Highland Council - 7,000
Job Retention Scheme (furlough) - 1,025
HCWP - 75
Keep Scotland Beautiful 22,822 -
Hitrans 3,600 -
EDF 250 -
Foundation Scotland 3,000 -
Highland Climate Festival 868 -
Sustrans Scotland 994 -
Harbour Trust 1,770 -
45,325 40,024


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
Direct (see note Support
Costs 7) costs Totals
£    £    £    £   
Charitable activities 116,548 12,707 2,052 131,307
Depreciation 630 - - 630
117,178 12,707 2,052 131,937

7. GRANTS PAYABLE
31.3.23 31.3.22
£    £   
Charitable activities 12,707 27,909
The total grants paid to institutions during the year was as follows:
31.3.23 31.3.22
£    £   
COVID-19 Recovery Awards - 23,174
Community Benefit Fund Awards 12,257 4,735
British Red Cross (Ukraine) 450 -
12,707 27,909


8. NET INCOME/(EXPENDITURE)

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

31.3.23 31.3.22
£    £   
Depreciation - owned assets 630 1,017

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.



LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. STAFF COSTS

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

31.3.23 31.3.22
All staff 9 7

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

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,105 2,180 3,285

Charitable activities
Charitable activities 8,025 31,999 40,024

Other trading activities 60,421 - 60,421
Investment income 4 - 4
Total 69,555 34,179 103,734

EXPENDITURE ON
Raising funds 2,927 - 2,927

Charitable activities
Charitable activities 51,510 72,880 124,390
Depreciation 1,017 - 1,017
Total 55,454 72,880 128,334

NET INCOME/(EXPENDITURE) 14,101 (38,701 ) (24,600 )
Transfers between funds 113,718 (113,718 ) -
Net movement in funds 127,819 (152,419 ) (24,600 )

RECONCILIATION OF FUNDS
Total funds brought forward 64,129 158,497 222,626

TOTAL FUNDS CARRIED FORWARD 191,948 6,078 198,026


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2022 and 31 March 2023 142,488 4,897 147,385
DEPRECIATION
At 1 April 2022 8,849 4,267 13,116
Charge for year - 630 630
At 31 March 2023 8,849 4,897 13,746
NET BOOK VALUE
At 31 March 2023 133,639 - 133,639
At 31 March 2022 133,639 630 134,269

Transfer of freehold property to unrestricted
The freehold property, 28 Argyll Street, Ullapool, was purchased with grant assistance from the Scottish Land Fund and is subject to various terms and conditions applicable to its use and ownership. The asset-monitoring period is now complete and all terms of the grant have been met, so trustees have agreed on a transfer to unrestricted funds in accordance with the Charity SORP section 2.12.

13. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
MARKET VALUE
At 1 April 2022 and 31 March 2023 100
NET BOOK VALUE
At 31 March 2023 100
At 31 March 2022 100

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Lochbroom Woodfuels Limited
Registered office:
Nature of business: Supply of biomass and wood products
%
Class of share: holding
Ordinary 100
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 100 100


LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

14. STOCKS
31.3.23 31.3.22
£    £   
Stocks 307 -

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 900 255
Other loan 994 -
Prepayments and accrued income 1,770 -
Accrued income - 1,008
3,664 1,263

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 1,720 1,048
Social security and other taxes 562 2
Pensions 146 112
Accrued expenses 1,081 1,081
3,509 2,243

17. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 191,948 980 (9,027 ) 183,901

Restricted funds
Community Benefit Fund 1,455 (1,405 ) 251 301
Hub Development Fund 1,653 (10,429 ) 8,776 -
Recovery 746 (746 ) - -
Adapt & Thrive 2,209 (2,209 ) - -
HCWP 15 5,253 - 5,268
Employment & Training - 3,250 - 3,250
Highland Climate Festival - 316 - 316
6,078 (5,970 ) 9,027 9,135
TOTAL FUNDS 198,026 (4,990 ) - 193,036

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 78,783 (77,803 ) 980

Restricted funds
Community Benefit Fund 13,122 (14,527 ) (1,405 )
Hub Development Fund 5,021 (15,450 ) (10,429 )
Recovery - (746 ) (746 )
Adapt & Thrive (1 ) (2,208 ) (2,209 )
HCWP 22,821 (17,568 ) 5,253
MTB Project 1,770 (1,770 ) -
Active Travel 4,594 (4,594 ) -
Employment & Training 3,250 - 3,250
Highland Climate Festival 868 (552 ) 316
51,445 (57,415 ) (5,970 )
TOTAL FUNDS 130,228 (135,218 ) (4,990 )


Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.21 in funds funds 31.3.22
£    £    £    £   
Unrestricted funds
General fund 64,129 14,101 113,718 191,948

Restricted funds
Community Benefit Fund 5,930 (4,475 ) - 1,455
Hub Development Fund 3,714 (2,061 ) - 1,653
Property Fund 115,862 - (115,862 ) -
HIE - LDO Support 980 (999 ) 19 -
Recovery 25,120 (24,374 ) - 746
Adapt & Thrive 6,891 (4,682 ) - 2,209
Forestry Project - (1,546 ) 1,546 -
MTB Project - (579 ) 579 -
HCWP - 15 - 15
158,497 (38,701 ) (113,718 ) 6,078
TOTAL FUNDS 222,626 (24,600 ) - 198,026

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 69,555 (55,454 ) 14,101

Restricted funds
Community Benefit Fund 1,120 (5,595 ) (4,475 )
Hub Development Fund 13,265 (15,326 ) (2,061 )
HIE - LDO Support 14,494 (15,493 ) (999 )
Recovery - (24,374 ) (24,374 )
Adapt & Thrive 1 (4,683 ) (4,682 )
Forestry Project 4,864 (6,410 ) (1,546 )
MTB Project 360 (939 ) (579 )
HCWP 75 (60 ) 15
34,179 (72,880 ) (38,701 )
TOTAL FUNDS 103,734 (128,334 ) (24,600 )

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.4.21 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 64,129 15,081 104,691 183,901

Restricted funds
Community Benefit Fund 5,930 (5,880 ) 251 301
Hub Development Fund 3,714 (12,490 ) 8,776 -
Property Fund 115,862 - (115,862 ) -
HIE - LDO Support 980 (999 ) 19 -
Recovery 25,120 (25,120 ) - -
Adapt & Thrive 6,891 (6,891 ) - -
Forestry Project - (1,546 ) 1,546 -
MTB Project - (579 ) 579 -
HCWP - 5,268 - 5,268
Employment & Training - 3,250 - 3,250
Highland Climate Festival - 316 - 316
158,497 (44,671 ) (104,691 ) 9,135
TOTAL FUNDS 222,626 (29,590 ) - 193,036

LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 148,338 (133,257 ) 15,081

Restricted funds
Community Benefit Fund 14,242 (20,122 ) (5,880 )
Hub Development Fund 18,286 (30,776 ) (12,490 )
HIE - LDO Support 14,494 (15,493 ) (999 )
Recovery - (25,120 ) (25,120 )
Adapt & Thrive - (6,891 ) (6,891 )
Forestry Project 4,864 (6,410 ) (1,546 )
MTB Project 360 (939 ) (579 )
HCWP 22,896 (17,628 ) 5,268
MTB Project 1,770 (1,770 ) -
Active Travel 4,594 (4,594 ) -
Employment & Training 3,250 - 3,250
Highland Climate Festival 868 (552 ) 316
85,624 (130,295 ) (44,671 )
TOTAL FUNDS 233,962 (263,552 ) (29,590 )

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

19. ULTIMATE CONTROLLING PARTY

Ullapool Community Trust is a company limited by guarantee. The liability of members is limited and is not to exceed £1. The ultimate controlling party is therefore considered to be the board of trustee.