IRIS Accounts Productionv23.4.0.336OtherCompany accountsTruefalsePounds1.9.2231.8.2331.8.23FYFRS 102Independent examinerLarge and medium-sized companies regime for accountsFullCharities SORPtruetruetruetruetruefalsetruefalsefalse00 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2017562022-08-31SC2017562023-08-31SC2017562022-09-012023-08-31SC2017562021-08-31SC2017562021-09-012022-08-31SC2017562022-08-31SC201756ns0:CharitableCompanyLimitedByGuarantee2022-09-012023-08-31SC201756ns15:PoundSterling2022-09-012023-08-31SC201756ns11:FRS1022022-09-012023-08-31SC201756ns11:IndependentExaminationCharity2022-09-012023-08-31SC201756ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-09-012023-08-31SC201756ns11:FullAccounts2022-09-012023-08-31SC201756ns11:CharitiesSORP2022-09-012023-08-31SC201756ns16:EnglandWales2022-09-012023-08-31SC201756ns11:RegisteredOffice2022-09-012023-08-31SC201756ns0:Trustee12022-09-012023-08-31SC201756ns0:Trustee22022-09-012023-08-31SC201756ns0:Trustee32022-09-012023-08-31SC201756ns11:CompanySecretary12022-09-012023-08-31SC201756ns0:TotalUnrestrictedFunds2022-09-012023-08-31SC201756ns0:TotalRestrictedIncomeFunds2022-09-012023-08-31SC201756ns11:MainIndustrySectorHeading2022-09-012023-08-31SC201756ns0:TotalUnrestrictedFundsns11:MainIndustrySectorHeading2022-09-012023-08-31SC201756ns11:MainIndustrySectorHeadingns0:TotalRestrictedIncomeFunds2022-09-012023-08-31SC201756ns11:MainIndustrySectorHeading2021-09-012022-08-31SC201756ns0:TotalUnrestrictedFunds2022-08-31SC201756ns0:TotalRestrictedIncomeFunds2022-08-31SC201756ns0:TotalUnrestrictedFunds2023-08-31SC201756ns0:TotalRestrictedIncomeFunds2023-08-31SC201756ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-08-31SC201756ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-08-31SC201756ns10:WithinOneYear2023-08-31SC201756ns10:WithinOneYear2022-08-31SC201756ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-09-012023-08-31SC20175622022-09-012023-08-31SC201756ns10:OwnedAssets2022-09-012023-08-31SC201756ns10:OwnedAssets2021-09-012022-08-31SC201756ns0:TotalUnrestrictedFunds2021-09-012022-08-31SC201756ns0:TotalRestrictedIncomeFunds2021-09-012022-08-31SC201756ns0:TotalUnrestrictedFundsns11:MainIndustrySectorHeading2021-09-012022-08-31SC201756ns11:MainIndustrySectorHeadingns0:TotalRestrictedIncomeFunds2021-09-012022-08-31SC201756ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-08-31SC201756ns10:PlantMachinery2022-08-31SC201756ns10:PlantMachinery2022-09-012023-08-31SC201756ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-08-31SC201756ns10:PlantMachinery2023-08-31SC201756ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-08-31SC201756ns10:PlantMachinery2022-08-31SC201756ns10:CostValuation2022-08-31SC201756ns10:Subsidiary12022-09-012023-08-31SC201756ns10:Subsidiary112022-09-012023-08-31SC201756ns10:Subsidiary12023-08-31SC201756ns10:Subsidiary12022-08-31

REGISTERED COMPANY NUMBER: SC201756 (Scotland)

REGISTERED CHARITY NUMBER: 029619

























REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023


FOR



PORT OF NESS HARBOUR LIMITED



PORT OF NESS HARBOUR LIMITED



CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023












Page




Report of the Trustees  

1


to


2



Independent Examiner's Report  

3




Statement of Financial Activities  

4




Balance Sheet  

5


to


6



Notes to the Financial Statements  

7


to


11


PORT OF NESS HARBOUR LIMITED (REGISTERED NUMBER: SC201756)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 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 August 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

Objectives and aims

The objectives of the charity are to improve the Port Of Ness Harbour and the immediate vicinity.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The last financial year has seen income being generated through the annual collection of harbour dues.

The trustees remain committed to ensuring the harbour is well maintained and improved where possible to ensure it remains a valuable community asset.

FINANCIAL REVIEW

Reserves policy

During the year the charity's outgoing resources exceeded incoming resources resulting in a deficit of £65,316 (2022 - £59,782 surplus) for the year. Unrestricted funds total £104,726 as a result (2022 - £118,852) and restricted funds total £11,451 (2022 - £62,641). The level of reserves are kept under review by the trustees. In the opinion of the trustees, the current level of reserves is satisfactory.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Port Of Ness Harbour Limited is a charitable company limited by guarantee, incorporated on 23 November 1999. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.


Recruitment and appointment of new trustees

Nominations for new trustees are always welcome from anyone with an interest in Port Of Ness Harbour.

Related parties

Barr 'A Yard Limited, a wholly owned subsidiary of the charity, has taken over the management and leasing of the restaurant, 'The Breakwater'.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC201756 (Scotland)


Registered Charity number

029619


Registered office

63 Kenneth Street

Stornoway

Isle of Lewis

HS1 2DS



PORT OF NESS HARBOUR LIMITED (REGISTERED NUMBER: SC201756)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2023



Trustees

D Macleod

M Murray

G Maclean


Company Secretary

C Murray


Independent Examiner

CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS


Approved by order of the board of trustees on 6 March 2024 and signed on its behalf by:






D Macleod - Trustee


INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

PORT OF NESS HARBOUR LIMITED




I report on the accounts for the year ended 31 August 2023 set out on pages four to eleven.


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.









Calum Macdonald BA CA

The Institute of Chartered Accountants of Scotland


CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS


6 March 2024



PORT OF NESS HARBOUR LIMITED



STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2023



31.8.23


31.8.22


Unrestricted


Restricted


Total


Total


funds


funds


funds


funds


Notes

£   

£   

£   

£   


INCOME AND ENDOWMENTS FROM

Donations and legacies

3,775


-


3,775


4,030



Charitable activities

Harbour maintenance, utilisation & improvement

690


-


690


100,283


Total

4,465


-


4,465


104,313



EXPENDITURE ON

Raising funds

2

16


-


16


15



Charitable activities

Harbour maintenance, utilisation & improvement

18,575


51,190


69,765


44,516


Total

18,591


51,190


69,781


44,531



NET INCOME/(EXPENDITURE)

(14,126

)

(51,190

)

(65,316

)

59,782




RECONCILIATION OF FUNDS

Total funds brought forward

118,852


62,641


181,493


121,711



TOTAL FUNDS CARRIED FORWARD

104,726


11,451


116,177


181,493



PORT OF NESS HARBOUR LIMITED (REGISTERED NUMBER: SC201756)



BALANCE SHEET

31 AUGUST 2023



31.8.23


31.8.22


Unrestricted


Restricted


Total


Total


funds


funds


funds


funds


Notes

£   

£   

£   

£   


FIXED ASSETS


Tangible assets

6

91,238


-


91,238


93,921


Investments

7

1


-


1


1


91,239


-


91,239


93,922



CURRENT ASSETS


Debtors

8

12,575


10,185


22,760


48,847


Cash at bank and in hand

2,852


1,266


4,118


40,967


15,427


11,451


26,878


89,814



CREDITORS


Amounts falling due within one year

9

(1,940

)

-


(1,940

)

(2,243

)


NET CURRENT ASSETS

13,487


11,451


24,938


87,571



TOTAL ASSETS LESS CURRENT LIABILITIES

104,726


11,451


116,177


181,493



NET ASSETS

104,726


11,451


116,177


181,493


FUNDS

10

Unrestricted funds

104,726


118,852


Restricted funds

11,451


62,641


TOTAL FUNDS

116,177


181,493



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


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


PORT OF NESS HARBOUR LIMITED (REGISTERED NUMBER: SC201756)



BALANCE SHEET - continued

31 AUGUST 2023


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



The financial statements were approved by the Board of Trustees and authorised for issue on 6 March 2024 and were signed on its behalf by:






D Macleod - Trustee



PORT OF NESS HARBOUR LIMITED



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 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.



The presentation currency of the financial statements is the Pound Sterling (£).



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.



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



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.



PORT OF NESS HARBOUR LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2023



2.

RAISING FUNDS



Investment management costs


31.8.23


31.8.22

£   

£   



Rent

16


15




3.

NET INCOME/(EXPENDITURE)



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




31.8.23


31.8.22

£   

£   



Depreciation - owned assets

2,683


2,683




4.

TRUSTEES' REMUNERATION AND BENEFITS


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



Trustees' expenses


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


5.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


Restricted


Total


funds


funds


funds

£   

£   

£   



INCOME AND ENDOWMENTS FROM


Donations and legacies

4,030


-


4,030




Charitable activities


Harbour maintenance, utilisation & improvement

200


100,083


100,283



Total

4,230


100,083


104,313




EXPENDITURE ON


Raising funds

15


-


15




Charitable activities


Harbour maintenance, utilisation & improvement

6,717


37,799


44,516



Total

6,732


37,799


44,531




NET INCOME/(EXPENDITURE)

(2,502

)

62,284


59,782





RECONCILIATION OF FUNDS


Total funds brought forward

121,354


357


121,711





PORT OF NESS HARBOUR LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2023



5.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued


Unrestricted


Restricted


Total


funds


funds


funds

£   

£   

£   



TOTAL FUNDS CARRIED FORWARD

118,852


62,641


181,493



6.

TANGIBLE FIXED ASSETS


Freehold


Plant and



property


machinery


Totals

£   

£   

£   



COST


At 1 September 2022 and 31 August 2023

134,166


20,255


154,421




DEPRECIATION


At 1 September 2022

40,245


20,255


60,500




Charge for year

2,683


-


2,683




At 31 August 2023

42,928


20,255


63,183




NET BOOK VALUE


At 31 August 2023

91,238


-


91,238




At 31 August 2022

93,921


-


93,921




7.

FIXED ASSET INVESTMENTS


Shares in


group


undertakings

£   



MARKET VALUE


At 1 September 2022 and 31 August 2023

1




NET BOOK VALUE


At 31 August 2023

1




At 31 August 2022

1





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:



Barr 'A Yard Limited


Registered office: The registered office of the subsidiary is within the United KIngdom.


Nature of business: Property management


%


Class of share:

holding



Ordinary

100




31.8.23

31.8.22

£   

£   



Aggregate capital and reserves

1


1





PORT OF NESS HARBOUR LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2023



8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


31.8.23


31.8.22

£   

£   



Amounts owed by group undertakings

11,628


7,131




Other debtors

10,185


35,016




VAT

721


6,486




Prepayments

226


214



22,760


48,847




9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


31.8.23


31.8.22

£   

£   



Trade creditors

-


104




Accrued expenses

1,940


2,139



1,940


2,243




10.

MOVEMENT IN FUNDS


Net




movement


At



At 1.9.22


in funds


31.8.23


£   

£   

£   



Unrestricted funds


General fund

24,931


(11,443

)

13,488




New Building

93,921


(2,683

)

91,238



118,852


(14,126

)

104,726




Restricted funds


Maintenance Fund

357


-


357




Harbour Development Fund

62,284


(51,190

)

11,094



62,641


(51,190

)

11,451




TOTAL FUNDS

181,493


(65,316

)

116,177





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



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

4,465


(15,908

)

(11,443

)



New Building

-


(2,683

)

(2,683

)


4,465


(18,591

)

(14,126

)



Restricted funds


Harbour Development Fund

-


(51,190

)

(51,190

)




TOTAL FUNDS

4,465


(69,781

)

(65,316

)





PORT OF NESS HARBOUR LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2023



10.

MOVEMENT IN FUNDS - continued



Comparatives for movement in funds



Net




movement


At



At 1.9.21


in funds


31.8.22


£   

£   

£   



Unrestricted funds


General fund

24,750


181


24,931




New Building

96,604


(2,683

)

93,921



121,354


(2,502

)

118,852




Restricted funds


Maintenance Fund

357


-


357




Harbour Development Fund

-


62,284


62,284



357


62,284


62,641




TOTAL FUNDS

121,711


59,782


181,493





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



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

4,230


(4,049

)

181




New Building

-


(2,683

)

(2,683

)


4,230


(6,732

)

(2,502

)



Restricted funds


Harbour Development Fund

100,083


(37,799

)

62,284





TOTAL FUNDS

104,313


(44,531

)

59,782




11.

RELATED PARTY DISCLOSURES


Barr 'A Yard Limited, a wholly owned subsidiary of the charity, has taken over the management and leasing of the restaurant, 'The Breakwater'.

The subsidiary transfers any profits generated to the charity. This results in a payment to the charity for the year ended 31 August 2023 of £3,775 (2022 - £4,030).