IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true false true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3564192023-03-31SC3564192024-03-31SC3564192023-04-012024-03-31SC3564192022-03-31SC3564192022-04-012023-03-31SC3564192023-03-31SC356419ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-31SC356419ns15:PoundSterling2023-04-012024-03-31SC356419ns11:FRS1022023-04-012024-03-31SC356419ns11:IndependentExaminationCharity2023-04-012024-03-31SC356419ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC356419ns11:FullAccounts2023-04-012024-03-31SC356419ns11:CharitiesSORP2023-04-012024-03-31SC35641922023-04-012024-03-31SC356419ns16:EnglandWales2023-04-012024-03-31SC356419ns11:RegisteredOffice2023-04-012024-03-31SC356419ns0:Trustee22023-04-012024-03-31SC356419ns0:Trustee32023-04-012024-03-31SC356419ns0:Trustee42023-04-012024-03-31SC356419ns0:Trustee52023-04-012024-03-31SC356419ns0:Trustee62023-04-012024-03-31SC356419ns0:Trustee72023-04-012024-03-31SC356419ns0:Trustee12023-04-012024-03-31SC356419ns0:Trustee82023-04-012024-03-31SC356419ns0:Trustee92023-04-012024-03-31SC356419ns0:Trustee102023-04-012024-03-31SC356419ns11:CompanySecretary12023-04-012024-03-31SC356419ns0:TotalUnrestrictedFunds2023-04-012024-03-31SC356419ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC356419ns0:Activity8ns0:TotalUnrestrictedFunds2023-04-012024-03-31SC356419ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC356419ns0:Activity82023-04-012024-03-31SC356419ns0:Activity82022-04-012023-03-31SC356419ns0:TotalUnrestrictedFundsns0:Activity92023-04-012024-03-31SC356419ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC356419ns0:Activity92023-04-012024-03-31SC356419ns0:Activity92022-04-012023-03-31SC356419ns0:TotalUnrestrictedFunds2023-03-31SC356419ns0:TotalRestrictedIncomeFunds2023-03-31SC356419ns0:TotalUnrestrictedFunds2024-03-31SC356419ns0:TotalRestrictedIncomeFunds2024-03-31SC356419ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-03-31SC356419ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2024-03-31SC356419ns10:WithinOneYear2024-03-31SC356419ns10:WithinOneYear2023-03-31SC356419ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-04-012024-03-31SC356419ns10:FurnitureFittingsToolsEquipment2023-04-012024-03-31SC35641922023-04-012024-03-31SC35641912023-04-012024-03-31SC35641912022-04-012023-03-31SC356419ns10:OwnedAssets2023-04-012024-03-31SC356419ns10:OwnedAssets2022-04-012023-03-31SC356419ns0:TotalUnrestrictedFunds2022-04-012023-03-31SC356419ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC356419ns0:Activity8ns0:TotalUnrestrictedFunds2022-04-012023-03-31SC356419ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC356419ns0:TotalUnrestrictedFundsns0:Activity92022-04-012023-03-31SC356419ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC356419ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-03-31SC356419ns10:FurnitureFittings2023-03-31SC356419ns10:FurnitureFittings2023-04-012024-03-31SC356419ns10:LandBuildingsns10:OwnedOrFreeholdAssets2024-03-31SC356419ns10:FurnitureFittings2024-03-31SC356419ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-03-31SC356419ns10:FurnitureFittings2023-03-31SC356419ns10:CostValuationns10:UnlistedNon-exchangeTraded2023-03-31SC356419ns10:Subsidiary12023-04-012024-03-31SC356419ns10:Subsidiary112023-04-012024-03-31SC356419ns10:Subsidiary12024-03-31SC356419ns10:Subsidiary12023-03-31
REGISTERED COMPANY NUMBER: SC356419 (Scotland)
REGISTERED CHARITY NUMBER: SC041228














Report of the Trustees and

Financial Statements for the Year Ended 31 March 2024

for

LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED






Contents of the Financial Statements
for the Year Ended 31 March 2024




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 AND ULLAPOOL COMMUNITY
TRUST LIMITED (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2024


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 2024. 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 AND ULLAPOOL COMMUNITY
TRUST LIMITED (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE
Charitable activities
April 2023 to March 2024 saw an increase in core costs, creating a financially difficult environment for the charitable sector. Thanks to the foundation work of previous years 23/4 saw a 9.9% increase in income from the New Broom. This coupled with a careful control on expenditure has mitigated any losses.

The Trust continues to run a series of working groups, each reflecting the priorities as identified in the 2021 community needs survey. - Affordable housing Employment and Training, Sustainable Futures, Revenue and Finance, and Active Travel & Transport. Each has a board member involved who reports back to the board on their activities.

The Affordable Housing group alongside the new Regenerate working group continued to look at empty properties and how they might be brought back into use. We continue to seek sources of additional income to help us commit the necessary resources to take investigations, dialogue and practical actions further.

The Employment and Training group met regularly throughout the year forming a conduit for information sharing between local user groups and service providers especially in regard to employment training. Mental health first aid and awareness training was delivered and the informal employment bank continued to operate matching individuals seeking work with local employers.

Active Travel and Community Transport - Funding awarded by Sustrans under their 'Places for Everyone' fund was used to complete the strategic definition of an Active Travel (walking, wheeling and cycling) route to join communities along the A835 from Ardmair through to Braemore Junction. As part of this exercise, a community consultation identified that over 90% of respondents were in favour of the route. The strategic definition stage was completed and approved by Sustrans and funding is now being sought for a feasibility study and concept design.

In November 2023 LUCT was awarded funding through the Community Regeneration Fund to undertake a feasibility study and pay for pre-construction costs to develop mountain bike trails in Lael Forest. This project forms part of the Health and Well-being initiatives with support from the Ullapool Medical Practice, NHS Green Health initiative and will run until March 2025..

The Community Health and Wellbeing working group is our newest forum bringing local practitioners, funders, medical practices and others together to discuss collaborative projects.

In response to the increasingly tight funding scene, we have strengthened the remit of our finance working group to explore new revenue options alongside continuing to pursue funding opportunities.

The work of the Sustainable Futures group has been largely concerned with the Highland Community Waste Partnership (HCWP) which has been active on a number of fronts. 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 which have proved extremely popular. This is a fully funded project, funded by the National Lottery, with 8 community groups as partners, led by Keep Scotland Beautiful. Preloved clothing fayres, food waste reduction workshops and the setting up of a highland wide repair directory have all been important elements of this project.

The above project fits neatly with the ongoing work of the New Broom in promoting the circular economy and diverting items from landfill and being part of our climate change mitigation. To which end, the New Broom has seen an increase in footfall and turnover. In August 2023 we became VAT registered and in January 2024 we started taking card payments which has further helped us to increase our income.

Our upcycling furniture project started in 2022 has been continued, with over 80 pieces, salvaged, renovated and sold as a result. we are most grateful to the Ullapool Harbour Trust for allowing us the use of the community workshop. PAT-tested small electrical items continue to be a popular item in the shop providing safe preloved household items at affordable prices for our community.

We estimate we have diverted some 24 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.


LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2024

The Community Pantry continued to operate thanks to its small band of volunteers. Annual maintenance costs were for materials only, all labour being donated. However, the volume of grocery donations from the Fare Share Scotland Scheme has reduced over the past year as the increase in basic food prices has been reflected in tighter stocking regimes and a reduction in the amount of unsold ambient produce. The pantry is checked and re-stocked whenever donated food is available. It is free for all to donate their own surplus or take what they can make use of: Combatting food waste and food poverty in one small space.

During the year, LUCT again acted as facilitator for the Community Benefit Fund (CBF). This is comprised of funds which accumulate each year from a combination of Broom Power (Lochbroom Community Renewables) surplus income, direct donations from individuals and the sale of goods donated to the fund. Due to a variation in timing of the donation of funds from Broom Power none shows in this year's accounts. However, a donation was received after our year end. In 2023, there was a change in policy by LCR such that they no longer facilitate the direct donation of dividends to the fund. Thus, there was no dividend payment from them nor any associated gift-aid. In 2023, we were fortunate to be gifted a number of art textiles and original craft items which upon sale via the New Broom have directly benefited the fund. The projects supported this year by the CBF were: An Tallas Solais - funding for the Dolphins Art club, Royal British Legion Lochbroom - Dundonnell war memorial refurbishment, Ullapool Fire & Light - Winter lights, Lochbroom & Ullapool Church of Scotland funding for their Christmas - Giving Tree and the Super Kids summer club, Ullapool & District Pipe Band- a contribution towards acquiring new instruments, Ullapool & District Youth Group - core running costs, Ullaspool - new equipment costs and Welcome Ullapool - towards a hanging basket watering system. Thanks to the CBF panel, for their work in reviewing the many applications and in making the awards.

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 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. Our reserve level and policy was reviewed alongside our insurance review.

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.

Lochbroom and Ullapool Community Trust Ltd is a company limited by guarantee and not having a share capital, governed by its 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.


LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment, appointment, induction and training of Directors
The trustees have the power to appoint such other trustee as they feel necessary and suitable 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.

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 (resigned 16.4.24)
T M Gauntlett
S C Leslie
B O'Hanrahan
B Muller (resigned 2.11.23)
W M Fletcher (appointed 2.11.23)
C J Crook (appointed 2.11.23)
B H Williams (appointed 2.11.23)
J N Tatchell

Company Secretary
S C Leslie


LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED (REGISTERED NUMBER: SC356419)

Report of the Trustees
for the Year Ended 31 March 2024


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

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Lochbroom and Ullapool Community Trust Limited 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 11 November 2024 and signed on its behalf by:





M Patel - Trustee

Independent Examiner's Report to the Trustees of
Lochbroom and Ullapool Community
Trust Limited

I report on the accounts for the year ended 31 March 2024 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

11 November 2024

LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

Statement of Financial Activities
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 1,584 10,699 12,283 7,168

Charitable activities 5
Charitable activities - 59,935 59,935 45,325

Other trading activities 3 85,237 - 85,237 77,572
Investment income 4 465 - 465 163
Total 87,286 70,634 157,920 130,228

EXPENDITURE ON
Raising funds 4,142 7 4,149 3,281

Charitable activities 6
Charitable activities 80,811 71,570 152,381 131,307
Depreciation 2,850 - 2,850 630
Total 87,803 71,577 159,380 135,218

NET INCOME/(EXPENDITURE) (517 ) (943 ) (1,460 ) (4,990 )
Transfers between funds 17 (649 ) 649 - -
Net movement in funds (1,166 ) (294 ) (1,460 ) (4,990 )

RECONCILIATION OF FUNDS
Total funds brought forward 183,901 9,135 193,036 198,026

TOTAL FUNDS CARRIED FORWARD 182,735 8,841 191,576 193,036

LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED (REGISTERED NUMBER: SC356419)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 12 130,789 - 130,789 133,639
Investments 13 100 - 100 100
130,889 - 130,889 133,739

CURRENT ASSETS
Stocks 14 280 - 280 307
Debtors 15 3,680 - 3,680 3,664
Cash at bank and in hand 49,581 8,840 58,421 58,835
53,541 8,840 62,381 62,806

CREDITORS
Amounts falling due within one year 16 (1,694 ) - (1,694 ) (3,509 )

NET CURRENT ASSETS 51,847 8,840 60,687 59,297

TOTAL ASSETS LESS CURRENT
LIABILITIES

182,736

8,840

191,576

193,036

NET ASSETS 182,736 8,840 191,576 193,036
FUNDS 17
Unrestricted funds 182,736 183,901
Restricted funds 8,840 9,135
TOTAL FUNDS 191,576 193,036

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 AND ULLAPOOL COMMUNITY
TRUST LIMITED (REGISTERED NUMBER: SC356419)

Balance Sheet - continued
31 March 2024

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 11 November 2024 and were signed on its behalf by:





W M Fletcher - Trustee

LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements
for the Year Ended 31 March 2024

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 AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. DONATIONS AND LEGACIES
31.3.24 31.3.23
£    £   
Donations 10,501 5,532
Gift aid - 736
Other income 1,782 900
12,283 7,168

3. OTHER TRADING ACTIVITIES
31.3.24 31.3.23
£    £   
Hub Sales 85,237 77,572

4. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Bank account interest 465 163

5. INCOME FROM CHARITABLE ACTIVITIES
31.3.24 31.3.23
Activity £    £   
Grants Charitable activities 59,935 45,325

Grants received, included in the above, are as follows:
31.3.24 31.3.23
£    £   
HIE Hub Development Fund - 5,021
Lochbroom Community Renewables - 7,000
Keep Scotland Beautiful 23,240 22,822
Hitrans - 3,600
EDF - 250
Foundation Scotland (576 ) 3,000
Highland Climate Festival - 868
Sustrans Scotland 35,271 994
Harbour Trust - 1,770
Ullapool Harbour Trust 2,000 -
59,935 45,325


LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
Direct (see note Support
Costs 7) costs Totals
£    £    £    £   
Charitable activities 138,854 11,358 2,169 152,381
Depreciation 2,850 - - 2,850
141,704 11,358 2,169 155,231

7. GRANTS PAYABLE
31.3.24 31.3.23
£    £   
Charitable activities 11,358 12,707
The total grants paid to institutions during the year was as follows:
31.3.24 31.3.23
£    £   
Community Benefit Fund Awards 11,358 12,257
British Red Cross (Ukraine) - 450
11,358 12,707


8. NET INCOME/(EXPENDITURE)

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

31.3.24 31.3.23
£    £   
Depreciation - owned assets 2,850 630

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.



LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. STAFF COSTS

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

31.3.24 31.3.23
All staff 9 9

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 1,048 6,120 7,168

Charitable activities
Charitable activities - 45,325 45,325

Other trading activities 77,572 - 77,572
Investment income 163 - 163
Total 78,783 51,445 130,228

EXPENDITURE ON
Raising funds 3,266 15 3,281

Charitable activities
Charitable activities 73,907 57,400 131,307
Depreciation 630 - 630
Total 77,803 57,415 135,218

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

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

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


LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023 and 31 March 2024 142,488 4,897 147,385
DEPRECIATION
At 1 April 2023 8,849 4,897 13,746
Charge for year 2,850 - 2,850
At 31 March 2024 11,699 4,897 16,596
NET BOOK VALUE
At 31 March 2024 130,789 - 130,789
At 31 March 2023 133,639 - 133,639

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 2023 and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 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
31.3.24 31.3.23
£    £   
Aggregate capital and reserves - 100


LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

14. STOCKS
31.3.24 31.3.23
£    £   
Stocks 280 307

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,717 -
Other debtors - 900
Other loan - 994
Prepayments and accrued income - 1,770
Accrued income 1,963 -
3,680 3,664

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 277 1,720
Social security and other taxes - 562
Pensions 191 146
VAT 148 -
Accrued expenses 1,078 1,081
1,694 3,509

17. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.23 in funds funds 31.3.24
£    £    £    £   
Unrestricted funds
General fund 183,901 (516 ) (649 ) 182,736

Restricted funds
Community Benefit Fund 301 (699 ) 649 251
HCWP 5,268 2,810 - 8,078
Employment & Training 3,250 (3,000 ) - 250
Highland Climate Festival 316 (55 ) - 261
9,135 (944 ) 649 8,840
TOTAL FUNDS 193,036 (1,460 ) - 191,576

LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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 87,286 (87,802 ) (516 )

Restricted funds
Community Benefit Fund 10,199 (10,898 ) (699 )
HCWP 23,740 (20,930 ) 2,810
Active Travel 35,271 (35,271 ) -
Employment & Training (576 ) (2,424 ) (3,000 )
Highland Climate Festival - (55 ) (55 )
Hector 250th Event 2,000 (2,000 ) -
70,634 (71,578 ) (944 )
TOTAL FUNDS 157,920 (159,380 ) (1,460 )


Comparatives for 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 AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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 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 )

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

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.24
£    £    £    £   
Unrestricted funds
General fund 191,948 464 (9,676 ) 182,736

Restricted funds
Community Benefit Fund 1,455 (2,104 ) 900 251
Hub Development Fund 1,653 (10,429 ) 8,776 -
Recovery 746 (746 ) - -
Adapt & Thrive 2,209 (2,209 ) - -
HCWP 15 8,063 - 8,078
Employment & Training - 250 - 250
Highland Climate Festival - 261 - 261
6,078 (6,914 ) 9,676 8,840
TOTAL FUNDS 198,026 (6,450 ) - 191,576

LOCHBROOM AND ULLAPOOL COMMUNITY
TRUST LIMITED

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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 166,069 (165,605 ) 464

Restricted funds
Community Benefit Fund 23,321 (25,425 ) (2,104 )
Hub Development Fund 5,021 (15,450 ) (10,429 )
Recovery - (746 ) (746 )
Adapt & Thrive (1 ) (2,208 ) (2,209 )
HCWP 46,561 (38,498 ) 8,063
MTB Project 1,770 (1,770 ) -
Active Travel 39,865 (39,865 ) -
Employment & Training 2,674 (2,424 ) 250
Highland Climate Festival 868 (607 ) 261
Hector 250th Event 2,000 (2,000 ) -
122,079 (128,993 ) (6,914 )
TOTAL FUNDS 288,148 (294,598 ) (6,450 )

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

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.