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 true true true true false true false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3742602023-03-31SC3742602024-03-31SC3742602023-04-012024-03-31SC3742602022-03-31SC3742602022-04-012023-03-31SC3742602023-03-31SC374260ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-31SC374260ns15:PoundSterling2023-04-012024-03-31SC374260ns11:FRS1022023-04-012024-03-31SC374260ns11:IndependentExaminationCharity2023-04-012024-03-31SC374260ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC374260ns11:FullAccounts2023-04-012024-03-31SC374260ns11:CharitiesSORP2023-04-012024-03-31SC374260ns16:EnglandWales2023-04-012024-03-31SC374260ns11:RegisteredOffice2023-04-012024-03-31SC374260ns0:Trustee12023-04-012024-03-31SC374260ns0:Trustee22023-04-012024-03-31SC374260ns0:Trustee32023-04-012024-03-31SC374260ns0:Trustee42023-04-012024-03-31SC374260ns0:Trustee52023-04-012024-03-31SC374260ns0:Trustee62023-04-012024-03-31SC374260ns0:Trustee72023-04-012024-03-31SC374260ns0:Trustee82023-04-012024-03-31SC374260ns11:CompanySecretary12023-04-012024-03-31SC374260ns0:TotalUnrestrictedFunds2023-04-012024-03-31SC374260ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC374260ns0:Activity92023-04-012024-03-31SC374260ns0:TotalUnrestrictedFundsns0:Activity92023-04-012024-03-31SC374260ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-04-012024-03-31SC374260ns0:Activity92022-04-012023-03-31SC374260ns0:TotalUnrestrictedFunds2023-03-31SC374260ns0:TotalRestrictedIncomeFunds2023-03-31SC374260ns0:TotalUnrestrictedFunds2024-03-31SC374260ns0:TotalRestrictedIncomeFunds2024-03-31SC374260ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-03-31SC374260ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2024-03-31SC374260ns10:WithinOneYear2024-03-31SC374260ns10:WithinOneYear2023-03-31SC37426012023-04-012024-03-31SC374260ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-04-012024-03-31SC374260ns10:PlantMachinery2023-04-012024-03-31SC374260ns10:ComputerEquipment2023-04-012024-03-31SC37426022023-04-012024-03-31SC37426032023-04-012024-03-31SC37426012023-04-012024-03-31SC37426012022-04-012023-03-31SC374260ns10:OwnedAssets2023-04-012024-03-31SC374260ns10:OwnedAssets2022-04-012023-03-31SC374260ns0:TotalUnrestrictedFunds2022-04-012023-03-31SC374260ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC374260ns0:TotalUnrestrictedFundsns0:Activity92022-04-012023-03-31SC374260ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-04-012023-03-31SC374260ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-03-31SC374260ns10:PlantMachinery2023-03-31SC374260ns10:ComputerEquipment2023-03-31SC374260ns10:OwnedOrFreeholdAssetsns10:LandBuildings2024-03-31SC374260ns10:PlantMachinery2024-03-31SC374260ns10:ComputerEquipment2024-03-31SC374260ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-03-31SC374260ns10:PlantMachinery2023-03-31SC374260ns10:ComputerEquipment2023-03-31SC374260ns10:CostValuation2023-03-31SC374260ns10:Subsidiary12023-04-012024-03-31SC3742601ns10:Subsidiary12023-04-012024-03-31SC374260ns10:Subsidiary12024-03-31SC374260ns10:Subsidiary12023-03-31SC374260ns10:Subsidiary12022-04-012023-03-31
REGISTERED COMPANY NUMBER: SC374260 (Scotland)
REGISTERED CHARITY NUMBER: 046321
























REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 16

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY (REGISTERED NUMBER: SC374260)

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
Objectives and aims
To manage community land and associated assets for the benefit of the Community and the public in general;
To provide, or assist in providing, recreational facilities, and/or organising recreational activities, which will be available to members of the Community and public at large with the object of improving the conditions of life of the Community;
To advance community development, including urban or rural regeneration within the Community;
To advance the education of the Community about its environment, culture, heritage and/or history;
To advance environmental protection or improvement including preservation, sustainable development and conservation of the natural environment, the maintenance, improvement or provision of environmental amenities for the Community and/or the preservation of buildings or sites of architectural, historic or other importance to the Community.

Significant activities
The charity took ownership of the estate on behalf of the community in April 2016. Funding towards the capital costs came from the Scottish Land Fund, HIE and Comhairle nan Eilean Siar.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity's main activities during year were managing the Estate and assets on behalf of the community.

FINANCIAL REVIEW
Financial position
During the year the charity's resources expended exceeded incoming resources resulting in a deficit of £102,083 for the year (2023 - surplus of £107,134). As a result, restricted funds total £723,237 and unrestricted funds total £245,661 at year-end.

Principal funding sources
The rental and estate income generated from assets owned by the charity funds its operational costs. Full details of the charity's principal funding sources are included in notes 2 and 3 to the financial statements.

Reserves policy
The general fund represents the unrestricted funds from past operating results. It also represents the free reserves of the charity. The trustees have examined the charity's requirements for reserves in light of the main risks to the charity. The present level of reserves has been built up over the years through donations and estate income and would allow the charity to continue to operate in the event of an interruption in its income streams. Funds are also raised for specific projects as required.

FUTURE PLANS
The charity's main objectives for the forthcoming year will be managing the Estate and assets on behalf of the community and to begin the process of improving the quality of life for all residents and crofters on the Estate.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The trust is a charitable company limited by guarantee, incorporated on 5 March 2010 and registered as a charity with effect from 5 February 2016. 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.


URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY (REGISTERED NUMBER: SC374260)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The directors of the company are also charity trustees for the purposes of charity law.

Under the terms of the Memorandum and Articles of Association the Elected Directors are appointed by the whole body of members at the Annual General Meeting. One third of the Elected Directors must retire by rotation at each Annual General Meeting. The Board may also co-opt up to three individuals as members of the Board who can serve up until the next AGM.

Organisational structure
The board consists of voluntary directors who manage the affairs of the charity through regular board meetings. The day to day management of the Trust is the responsibility of the Business Manager. The charity has reviewed its internal operational structure to assist in the effective management of the organisation.

Induction and training of new trustees
The charity undertakes training for trustees 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.

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.

The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate their exposure to the major risks.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC374260 (Scotland)

Registered Charity number
046321

Registered office
Ionad na Seann Sgoil
North Shawbost
Isle of Lewis
HS2 9BQ

Trustees
D Macmillan
L Maciver
K J Macleod
J Craig
E Macleod
N M Mackay
C Fisher (appointed 20.10.23) (resigned 8.7.24)
C Macleod (appointed 11.12.23) (resigned 10.1.24)

Company Secretary
J Craig


URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY (REGISTERED NUMBER: SC374260)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


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

Business Manager
Ivan Brown

Approved by order of the board of trustees on 7 November 2024 and signed on its behalf by:





D Macmillan - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY



I report on the accounts for the year ended 31 March 2024 set out on pages five to sixteen.

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

19 November 2024

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

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 2 318 49 367 18,877

Charitable activities 4
Land management 45,738 - 45,738 172,940

Investment income 3 1,514 - 1,514 -
Total 47,570 49 47,619 191,817

EXPENDITURE ON
Charitable activities 5
Land management 53,736 95,966 149,702 84,683

NET INCOME/(EXPENDITURE) (6,166 ) (95,917 ) (102,083 ) 107,134


RECONCILIATION OF FUNDS
Total funds brought forward 251,827 819,154 1,070,981 963,847

TOTAL FUNDS CARRIED FORWARD 245,661 723,237 968,898 1,070,981

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY (REGISTERED NUMBER: SC374260)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 12 350 387,688 388,038 396,588
Investments 13 100 320,000 320,100 320,100
450 707,688 708,138 716,688

CURRENT ASSETS
Debtors 14 1,065 - 1,065 22,080
Cash at bank 246,680 15,549 262,229 334,246
247,745 15,549 263,294 356,326

CREDITORS
Amounts falling due within one year 15 (2,534 ) - (2,534 ) (2,033 )

NET CURRENT ASSETS 245,211 15,549 260,760 354,293

TOTAL ASSETS LESS CURRENT LIABILITIES 245,661 723,237 968,898 1,070,981

NET ASSETS 245,661 723,237 968,898 1,070,981
FUNDS 16
Unrestricted funds 245,661 251,827
Restricted funds 723,237 819,154
TOTAL FUNDS 968,898 1,070,981

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.


URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY (REGISTERED NUMBER: SC374260)

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 7 November 2024 and were signed on its behalf by:





D Macmillan - Trustee

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

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.

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

Going concern
The activities of the charity have been affected by the impact of the COVID-19 pandemic and the trustees have assessed the charity's ability to continue as a going concern.

The management team have prepared projections which reflect the financial impact of the coronavirus crisis on the charity. The trustees have reviewed the projections and, based on this review, have a reasonable expectation that the charity has adequate resources to continue in operation for a period of at least 12 months from the approval of the financial statements. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

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.

Preparation of consolidated financial statements
The financial statements contain information about Urras Sgire Oighreachd Bharabhais Community Company as an individual charity and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 and Regulation 6 of the Charities Accounts (Scotland) Regulations 2006 (as amended) from the requirement to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions that affect the amounts reported for assets, liabilities, income and expenditure.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in future periods should it affect future periods.

The estimates and assumptions which carry a higher degree of risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Useful economic lives of tangible fixed assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. They are amended when necessary to reflect current estimates, future investment, economic utilisation and the physical condition of the assets. See note 12 for details of the values of tangible fixed assets.


URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


1. ACCOUNTING POLICIES - continued

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. The following specific policies are applied to particular categories of income:-

Grants generated to support the objects of the charity and without further specified purpose are taken to the Statement of Financial Activities in that period. Grants received which are related to capital expenditure or are for a specified purpose are transferred to Restricted Funds and are utilised to fund the future depreciation of the related capital expenditure or fund the costs relating to the specified purpose.

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.

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.

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.

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 - no depreciation on land
Plant and machinery - 20% on cost
Computer equipment - 33% 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.

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.

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


1. ACCOUNTING POLICIES - continued

Investments
Fixed asset investments in group undertakings are stated at cost less accumulated provision.

2. DONATIONS AND LEGACIES
31.3.24 31.3.23
£    £   
Donations 367 18,877

3. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Deposit account interest 1,514 -

4. INCOME FROM CHARITABLE ACTIVITIES
31.3.24 31.3.23
Activity £    £   
Rental income Land management 34,296 38,132
Land sales Land management 2,965 22,290
Royalties Land management - 1,000
Grants Land management 200 107,900
Consultancy work Land management 4,699 -
Other income Land management 606 500
Membership fees Land management 13 2
Employment allowance Land management 2,959 3,116
45,738 172,940

Grants received, included in the above, are as follows:
31.3.24 31.3.23
£    £   
Highlands and Islands Enterprise - 1,440
Comhairle nan Eilean Siar - Crown Estate Funding - 105,460
Western Isles Development Trust - 1,000
Scottish Community Tourism 200 -
200 107,900


URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 6) note 7) Totals
£    £    £   
Land management 148,850 852 149,702

6. DIRECT COSTS OF CHARITABLE ACTIVITIES
31.3.24 31.3.23
£    £   
Staff costs 34,228 34,385
Rent 2,004 2,004
Insurance 1,210 1,082
Telephone 880 848
Postage and stationery 1,499 797
Advertising 620 -
Website 85 2,003
Legal and professional fees 5,463 6,260
Land management 102 755
Motor and travel expenses 2,000 564
Subscriptions 121 232
Meeting expenses 67 111
Conferences 223 90
Recruitment expenses 39 -
Renewables Project 900 -
Peatland Restoration 100 -
Garden Project - 6,767
General charges 18 276
Bragar Bay Project 87,066 8,720
Campsite Project 2,750 10,097
Sponsorship 400 -
Depreciation 9,075 8,900
148,850 83,891

7. SUPPORT COSTS
Governance
costs
£   
Land management 852

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:
31.3.24 31.3.23
Land Total
management activities
£    £   
Accountancy fees 852 792

8. NET INCOME/(EXPENDITURE)

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

31.3.24 31.3.23
£    £   
Depreciation - owned assets 9,075 8,899

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.


10. STAFF COSTS

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

31.3.24 31.3.23
Development 1 1

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 18,677 200 18,877

Charitable activities
Land management 65,040 107,900 172,940
Total 83,717 108,100 191,817

EXPENDITURE ON
Charitable activities
Land management 64,623 20,060 84,683

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£    £    £   

NET INCOME 19,094 88,040 107,134
Transfers between funds 10,108 (10,108 ) -
Net movement in funds 29,202 77,932 107,134

RECONCILIATION OF FUNDS
Total funds brought forward 222,625 741,222 963,847

TOTAL FUNDS CARRIED FORWARD 251,827 819,154 1,070,981

12. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2023 377,765 44,497 1,318 423,580
Additions - - 525 525
At 31 March 2024 377,765 44,497 1,843 424,105
DEPRECIATION
At 1 April 2023 - 25,674 1,318 26,992
Charge for year - 8,900 175 9,075
At 31 March 2024 - 34,574 1,493 36,067
NET BOOK VALUE
At 31 March 2024 377,765 9,923 350 388,038
At 31 March 2023 377,765 18,823 - 396,588

13. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
MARKET VALUE
At 1 April 2023 and 31 March 2024 320,100
NET BOOK VALUE
At 31 March 2024 320,100
At 31 March 2023 320,100

There were no investment assets outside the UK.


URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. FIXED ASSET INVESTMENTS - continued
The company's investments at the balance sheet date in the share capital of companies include the following:

Urras Bharabhais (Trading) Limited
Registered office:
Nature of business: Property management
%
Class of share: holding
Ordinary 100
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 280,418 287,967
Loss for the year (7,549 ) (6,400 )

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 979 678
Amounts owed by group undertakings - 21,319
Prepayments 86 83
1,065 22,080

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 433 -
Other creditors 162 162
Accrued expenses 1,939 1,871
2,534 2,033

16. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 238,852 (5,766 ) 233,086
Grant Awards fund 12,975 (400 ) 12,575
251,827 (6,166 ) 245,661
Restricted funds
Funding for Estate Buyout 699,856 - 699,856
Estate management 98,082 (87,017 ) 11,065
Capital projects 21,216 (8,900 ) 12,316
819,154 (95,917 ) 723,237
TOTAL FUNDS 1,070,981 (102,083 ) 968,898

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


16. 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 47,570 (53,336 ) (5,766 )
Grant Awards fund - (400 ) (400 )
47,570 (53,736 ) (6,166 )
Restricted funds
Estate management 49 (87,066 ) (87,017 )
Capital projects - (8,900 ) (8,900 )
49 (95,966 ) (95,917 )
TOTAL FUNDS 47,619 (149,702 ) (102,083 )


Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 222,625 19,094 (2,867 ) 238,852
Grant Awards fund - - 12,975 12,975
222,625 19,094 10,108 251,827
Restricted funds
Funding for Estate Buyout 699,856 - - 699,856
Estate management 11,250 96,940 (10,108 ) 98,082
Capital projects 30,116 (8,900 ) - 21,216
741,222 88,040 (10,108 ) 819,154
TOTAL FUNDS 963,847 107,134 - 1,070,981

URRAS SGIRE OIGHREACHD BHARABHAIS
COMMUNITY COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


16. 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 83,717 (64,623 ) 19,094

Restricted funds
Estate management 108,100 (11,160 ) 96,940
Capital projects - (8,900 ) (8,900 )
108,100 (20,060 ) 88,040
TOTAL FUNDS 191,817 (84,683 ) 107,134

FUNDS

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

Estate management
This represents grants received from public funding agencies and trusts to assist with specified revenue and project costs.

Capital projects
This represents grants received from public funding agencies and trusts to assist with the purchase of plant, machinery and equipment. The funds are utilised to fund the future depreciation of the capital expenditure.

Funding for Estate Buyout
This represents the grants and donations received by the charity to assist with the purchase of Barvas Estate.

17. RELATED PARTY DISCLOSURES

The charity received assistance of £320,000 from The Scottish Land Fund to acquire the hatchery from Barvas Estate Limited. The hatchery was acquired by the wholly owned subsidiary, Urras Bharabhais (Trading) Limited ('UBT'). The funding was initially transferred to UBT as a loan which was converted into share capital during the year to 31 March 2019.

Donations of £Nil were received from UBT during the year ended 31 March 2024 (2023 - £18,672).

There is a balance due from UBT at 31 March 2024 of £Nil (2023 - £21,319).