IRIS Accounts Production v24.1.0.578 Other Company accounts True false Pounds 1.9.22 31.8.23 31.8.23 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2714622022-08-31SC2714622023-08-31SC2714622022-09-012023-08-31SC2714622021-08-31SC2714622021-09-012022-08-31SC2714622022-08-31SC271462ns0:CharitableCompanyLimitedByGuarantee2022-09-012023-08-31SC271462ns15:PoundSterling2022-09-012023-08-31SC271462ns11:FRS1022022-09-012023-08-31SC271462ns11:IndependentExaminationCharity2022-09-012023-08-31SC271462ns11:SmallCompaniesRegimeForAccounts2022-09-012023-08-31SC271462ns11:FullAccounts2022-09-012023-08-31SC271462ns11:CharitiesSORP2022-09-012023-08-31SC271462ns16:EnglandWales2022-09-012023-08-31SC271462ns11:RegisteredOffice2022-09-012023-08-31SC271462ns0:Trustee32022-09-012023-08-31SC271462ns0:Trustee42022-09-012023-08-31SC271462ns0:Trustee12022-09-012023-08-31SC271462ns0:Trustee22022-09-012023-08-31SC271462ns0:Trustee52022-09-012023-08-31SC271462ns0:Trustee62022-09-012023-08-31SC271462ns0:Trustee72022-09-012023-08-31SC271462ns0:Trustee82022-09-012023-08-31SC271462ns0:Trustee92022-09-012023-08-31SC271462ns0:Trustee102022-09-012023-08-31SC271462ns0:Trustee112022-09-012023-08-31SC271462ns0:Trustee122022-09-012023-08-31SC271462ns0:Trustee132022-09-012023-08-31SC271462ns0:Trustee142022-09-012023-08-31SC271462ns0:Trustee152022-09-012023-08-31SC271462ns0:Trustee162022-09-012023-08-31SC271462ns0:Trustee172022-09-012023-08-31SC271462ns0:Trustee182022-09-012023-08-31SC271462ns0:Trustee192022-09-012023-08-31SC271462ns0:Trustee202022-09-012023-08-31SC271462ns0:TotalUnrestrictedFunds2022-09-012023-08-31SC271462ns0:TotalRestrictedIncomeFunds2022-09-012023-08-31SC271462ns0:Activity82022-09-012023-08-31SC271462ns0:Activity8ns0:TotalUnrestrictedFunds2022-09-012023-08-31SC271462ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-09-012023-08-31SC271462ns0:Activity82021-09-012022-08-31SC271462ns0:TotalUnrestrictedFunds2022-08-31SC271462ns0:TotalRestrictedIncomeFunds2022-08-31SC271462ns0:TotalUnrestrictedFunds2023-08-31SC271462ns0:TotalRestrictedIncomeFunds2023-08-31SC271462ns10:WithinOneYear2023-08-31SC271462ns10:WithinOneYear2022-08-31SC27146222022-09-012023-08-31SC27146212022-09-012023-08-31SC27146212021-09-012022-08-31SC271462ns0:TotalUnrestrictedFunds2021-09-012022-08-31SC271462ns0:TotalRestrictedIncomeFunds2021-09-012022-08-31SC271462ns0:Activity8ns0:TotalUnrestrictedFunds2021-09-012022-08-31SC271462ns0:Activity8ns0:TotalRestrictedIncomeFunds2021-09-012022-08-31SC271462ns10:AfterOneYear2023-08-31SC271462ns10:AfterOneYear2022-08-31SC271462ns10:AllPeriods2023-08-31SC271462ns10:AllPeriods2022-08-31
REGISTERED COMPANY NUMBER: SC271462 (Scotland)
REGISTERED CHARITY NUMBER: SC044637
























REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

WESTERN ISLES DEVELOPMENT TRUST

WESTERN ISLES DEVELOPMENT TRUST

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 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 15

WESTERN ISLES DEVELOPMENT TRUST (REGISTERED NUMBER: SC271462)

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 main objectives of the charity are:
- the prevention or relief of poverty in the Western Isles (the "Western Isles Community") including, without limitation, the provision of support and grants to organisations and individuals working to prevent or relieve poverty including through energy efficient schemes and:
- the advancement of education including, without limitation, the provision, maintenance and improvement of educational facilities and raising awareness in relation to energy and energy-related issues that are driving global, national and local change;
- the advancement of environmental protection or improvement, including, without limitation, supporting a forward-looking environmental enhancement approach and the provision, maintenance and improvement of environmental facilities;
- the advancement of citizenship and community development including, without limitation, urban or rural regeneration, maintenance and improvement of the physical and social infrastructure within the environs of the Western Isles, including supporting the aspirations of local communities and the provision, maintenance and improvement of recreational facilities;
- the advancement of the arts, heritage, culture or science including, without limitation, the provision, maintenance and improvement of recreational and cultural facilities and raising awareness of the Gaelic language; and
- animal welfare.


WESTERN ISLES DEVELOPMENT TRUST (REGISTERED NUMBER: SC271462)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2023


OBJECTIVES AND ACTIVITIES
Grantmaking
Grants awarded to:Amount - £
North Lochs Community Council 2000
Uig School Parent Council665
Clan Macquarrie Community Centre1000
Uig Community Centre1000
Buth Bharraigh1635
Cothrom1000
North Lochs Community Association10000
Carloway Community Association2000
Comunn Eachdraidh Eirisgeidh10000
North Lochs Community Centre2000
Caladh Trust1000
Urras Coimhearsnachd Bhradhagair agus Arnoil2000
Uist Council of Voluntary Organisations2000
Scalpay Community Association2000
Sandwick Hall1000
Sgoil Dhalabroig2000
Comunn Eachdraidh Nis2000
Barra Children's Centre1700
Caradean Uibhist2000
Urras Sgire Oighreachd Bharabhais1000
West Harris Trust2000
North Uist Agricultural Show5000
Garadh a'Bhagh a'Tuath10000
Western Isles Foyer1000
66000
Youth Summer Activities Fund 2023
Who Cares? Scotland964
Comunn Eachdraidh Sgire a'Bhac1000
Cothrom1000
Action for Children1000
Barra Children's Centre1000
Barra and Vatersay Junior Sports Club1000
Barra Youth Café1000
Point Youth Club and Youth Café990
Western Isles Explorers600
Southend Football Club1000
Stornoway Free Church700
Askernish Golf Club1000
Barra Clay Pigeon Club850
Feis Bharraigh1000
Dochas Dancers500
Comunn na Gaidhlig - LR700
Comunn na Gaidhlig - FMK1000
Comunn na Gaidhlig - MNI1000
Comunn na Gaidhlig - SNA1000
Comunn na Gaidhlig - KP1000
Comunn na Gaidhlig - CMD1000
19304
TOTAL85304

WESTERN ISLES DEVELOPMENT TRUST (REGISTERED NUMBER: SC271462)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2023


ACHIEVEMENT AND PERFORMANCE
Charitable activities
The purpose of the Trust is to support the regeneration and development of the Outer Hebrides through disbursement of community benefit secured from the local deployment of renewable energy installations. This community benefit will come from a range of technologies, predominately onshore wind, offshore wind, wave and tidal. Over time and as grid connectivity allows, the Trust will expand its activities to support community ownership of large scale renewable energy infrastructure with the objective of addressing fuel poverty through access to locally generated "green" electricity.

FINANCIAL REVIEW
Principal funding sources
The activities of Western Isles Development Trust were severely disrupted due to the failure of the subsea electricity cable connecting the Outer Hebrides to the Scottish mainland in October 2020. Electricity grid operator, Scottish and Southern Electricity Networks (SSEN), completed the project to replace the cable at the end of August 2021 and gradually returned the network to normal operation shortly thereafter.

Replacement of the cable should ensure that funding streams from windfarms based in the Outer Hebrides will resume on the same terms as previously agreed upon.

Reserves policy
The general fund represents the unrestricted funds from past operating results. It also represents the free reserves of the charity. The trustees consider that the level of the free reserves in unrestricted funds at 31 August 2023 is sufficient to meet the operational requirements of the charity as presently structured.

During the year, the charity's outgoing resources exceeded incoming resources resulting in net expenditure of £39,063 for the period (2022 - net expenditure of £143,227). This results in an increase of £20 in unrestricted funds and a decrease of £39,083 in restricted funds. Unrestricted reserves has as a result increased to £344.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Association is a charitable company limited by guarantee, incorporated on 2 August 2004 and registered as a charity with effect from 11 February 2014. 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
The directors of the company are also charity trustees for the purpose of charity law.

Under the terms of the Memorandum and Articles of Association, unless otherwise determined by ordinary resolution of the company, the number of directors shall not be more than 20 and not less than 7. Where there are only 7 directors appointed, 2 of those 7 directors must be elected directors.

The nominated members shall be entitled to appoint up to a maximum of 12 people to be directors of the company.

The ordinary members shall be entitled to appoint 8 directors of the company and, unless otherwise determined by the directors:-
- two directors appointed by the ordinary members shall, in the case of an individual, be ordinarily resident in Barra or, in the case of a corporate body, shall have a presence in Barra, and:
- two directors appointed by the ordinary members shall, in the case of an individual, be ordinarily resident in Harris or, in the case of a corporate body, shall have a presence in Harris, and:
- two directors appointed by the ordinary members shall, in the case of an individual, be ordinarily resident in Lewis or, in the case of a corporate body, shall have a presence in Lewis, and:
- two directors appointed by the ordinary members shall, in the case of an individual, be ordinarily resident in Uist or, in the case of a body corporate, shall have a presence in Uist.

Subject to Article 23, each elected director shall serve for a maximum period of three years from the date of appointment as a director. At the end of this period, that elected director shall immediately resign but shall be eligible for re-appointment for subsequent periods of up to three years.

WESTERN ISLES DEVELOPMENT TRUST (REGISTERED NUMBER: SC271462)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The board consists of voluntary directors who manage the affairs of the charity through regular board meetings. The board members are heavily involved in the day to day operations of the charity.

Induction and training of new trustees
The charity will train trustees as necessary to ensure awareness and understanding of:-
- the responsibilities of directors;
- the organisational structure of the charity;
- the financial position of the charity; and
- the future plans and objectives of the charity.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC271462 (Scotland)

Registered Charity number
SC044637

Registered office
c/o Council Offices
Sandwick Road
Stornoway
Isle of Lewis
HS1 2BW

Trustees
A Ross (appointed 14.5.24)
Ms A Murray (appointed 14.5.24)
D Morrison Chair
K Macleod Vice chair
I M Maciver
N Macdonald
A D Muir
C J Mackay
S D Wilson (resigned 23.3.23)
D Wake (resigned 19.10.22)
Ms K M MacCormick
Mrs M J Stewart
Ms A Bird (resigned 14.5.24)
Ms C A Denehy
E McAtear
Ms H G Mansfield (resigned 5.10.23)
Mrs C Murray
F J Maclennan
G Fulton
I M Macleod
M J W Logan (appointed 19.10.22)
Mrs K A Macleod (appointed 23.3.23)


WESTERN ISLES DEVELOPMENT TRUST (REGISTERED NUMBER: SC271462)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2023


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Calum Macdonald
CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS

Bankers
Royal Bank of Scotland
17 North Beach Street
Stornoway
Isle of Lewis
HS1 2XH

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 31 July 2024 and signed on its behalf by:





D Morrison - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
WESTERN ISLES DEVELOPMENT TRUST



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

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
The Institute of Chartered Accountants of Scotland

CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS

31 July 2024

WESTERN ISLES DEVELOPMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2023

31.8.23 31.8.22
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 20 49,382 49,402 43,833

Investment income 3 - 403 403 455
Total 20 49,785 49,805 44,288

EXPENDITURE ON
Charitable activities 4
Charitable Activities - 88,868 88,868 187,515

NET INCOME/(EXPENDITURE) 20 (39,083 ) (39,063 ) (143,227 )


RECONCILIATION OF FUNDS
Total funds brought forward 324 145,466 145,790 289,017

TOTAL FUNDS CARRIED FORWARD 344 106,383 106,727 145,790

WESTERN ISLES DEVELOPMENT TRUST (REGISTERED NUMBER: SC271462)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £   
CURRENT ASSETS
Debtors 9 30,885 31,872
Cash at bank 78,453 117,428
109,338 149,300

CREDITORS
Amounts falling due within one year 10 (2,611 ) (3,510 )

NET CURRENT ASSETS 106,727 145,790

TOTAL ASSETS LESS CURRENT LIABILITIES 106,727 145,790

NET ASSETS 106,727 145,790
FUNDS 12
Unrestricted funds 344 324
Restricted funds 106,383 145,466
TOTAL FUNDS 106,727 145,790

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.


WESTERN ISLES DEVELOPMENT TRUST (REGISTERED NUMBER: SC271462)

BALANCE SHEET - continued
31 AUGUST 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 31 July 2024 and were signed on its behalf by:





D Morrison - Trustee





K Macleod - Trustee

WESTERN ISLES DEVELOPMENT TRUST

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.

The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees also consider that there are no significant areas of judgements, estimates or key assumptions that affect items in the accounts.

Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

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.

Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its objects and activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. The allocation of direct and support costs are analysed in the notes to the financial statements.

Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs linked to the strategic management of the charity.

Allocation and apportionment of costs
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. estimated usage.

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.


WESTERN ISLES DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


1. ACCOUNTING POLICIES - continued

Fund accounting
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

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.

2. DONATIONS AND LEGACIES
31.8.23 31.8.22
£    £   
Donations 49,382 43,813
Subscriptions 20 20
49,402 43,833

3. INVESTMENT INCOME
31.8.23 31.8.22
£    £   
Interest receivable 403 455

All investment income arises from assets held within the UK.

4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 5) note 6) Totals
£    £    £    £   
Charitable Activities 2,520 85,304 1,044 88,868

5. GRANTS PAYABLE
31.8.23 31.8.22
£    £   
Charitable Activities 85,304 183,870



WESTERN ISLES DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


6. SUPPORT COSTS
Governance
costs
£   
Charitable Activities 1,044

Support costs, included in the above, are as follows:
31.8.23 31.8.22
Charitable Total
Activities activities
£    £   
Accountancy and legal fees 1,044 924

7. 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.


8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 20 43,813 43,833

Investment income - 455 455
Total 20 44,268 44,288

EXPENDITURE ON
Charitable activities
Charitable Activities - 187,515 187,515

NET INCOME/(EXPENDITURE) 20 (143,247 ) (143,227 )


RECONCILIATION OF FUNDS
Total funds brought forward 304 288,713 289,017

TOTAL FUNDS CARRIED FORWARD 324 145,466 145,790


WESTERN ISLES DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


9. DEBTORS
31.8.23 31.8.22
£    £   
Amounts falling due within one year:
Loans receivable 1,250 1,250
Prepayments and accrued income 847 584
2,097 1,834
Amounts falling due after more than one year:
Loans receivable 28,788 30,038

Aggregate amounts 30,885 31,872

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other creditors 1,501 1,501
Accrued expenses 1,110 2,009
2,611 3,510

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.8.23 31.8.22
Unrestricted Restricted Total Total
fund funds funds funds
£    £    £    £   
Current assets 1,845 107,493 109,338 149,300
Current liabilities (1,501 ) (1,110 ) (2,611 ) (3,510 )
344 106,383 106,727 145,790

12. MOVEMENT IN FUNDS
Net
movement At
At 1.9.22 in funds 31.8.23
£    £    £   
Unrestricted funds
General fund 324 20 344

Restricted funds
Restricted fund 145,466 (39,083 ) 106,383

TOTAL FUNDS 145,790 (39,063 ) 106,727

WESTERN ISLES DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


12. 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 20 - 20

Restricted funds
Restricted fund 49,785 (88,868 ) (39,083 )

TOTAL FUNDS 49,805 (88,868 ) (39,063 )


Comparatives for movement in funds

Net
movement At
At 1.9.21 in funds 31.8.22
£    £    £   
Unrestricted funds
General fund 304 20 324

Restricted funds
Restricted fund 233,813 (88,347 ) 145,466
Transocean Fund 54,900 (54,900 ) -
288,713 (143,247 ) 145,466
TOTAL FUNDS 289,017 (143,227 ) 145,790

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 20 - 20

Restricted funds
Restricted fund 44,268 (132,615 ) (88,347 )
Transocean Fund - (54,900 ) (54,900 )
44,268 (187,515 ) (143,247 )
TOTAL FUNDS 44,288 (187,515 ) (143,227 )

WESTERN ISLES DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


12. MOVEMENT IN FUNDS - continued


FUNDS

General fund
The general fund represents unrestricted funds which the trustees are free to use in accordance with the charitable objects.

Restricted fund
This represents community benefit funds secured from the local deployment of renewable energy installations. The funds will be utilised to support the regeneration and development of the Outer Hebrides.

Transocean fund
This represents funds gifted from Transocean Ltd held for distribution to individuals and the communities of Dalmore and Dalbeg.

13. RELATED PARTY DISCLOSURES

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

14. LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital. The liability of each member, in the event of the company being wound up, is restricted to £1.

15. PERMANENT ENDOWMENTS

The charity does not have any permanent endowments.