IRIS Accounts Production v24.3.2.46 Other Company accounts True false Pounds 1.6.23 31.5.24 31.5.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3302642023-05-31SC3302642024-05-31SC3302642023-06-012024-05-31SC3302642022-05-31SC3302642022-06-012023-05-31SC3302642023-05-31SC330264ns0:CharitableCompanyLimitedByGuarantee2023-06-012024-05-31SC330264ns15:PoundSterling2023-06-012024-05-31SC330264ns11:FRS1022023-06-012024-05-31SC330264ns11:IndependentExaminationCharity2023-06-012024-05-31SC330264ns11:SmallCompaniesRegimeForAccounts2023-06-012024-05-31SC330264ns11:FullAccounts2023-06-012024-05-31SC330264ns11:CharitiesSORP2023-06-012024-05-31SC330264ns16:EnglandWales2023-06-012024-05-31SC330264ns11:RegisteredOffice2023-06-012024-05-31SC330264ns0:Trustee12023-06-012024-05-31SC330264ns0:Trustee22023-06-012024-05-31SC330264ns0:Trustee32023-06-012024-05-31SC330264ns0:Trustee42023-06-012024-05-31SC330264ns0:Trustee52023-06-012024-05-31SC330264ns0:Trustee62023-06-012024-05-31SC330264ns0:Trustee72023-06-012024-05-31SC330264ns0:Trustee82023-06-012024-05-31SC330264ns11:CompanySecretary12023-06-012024-05-31SC330264ns0:TotalUnrestrictedFunds2023-06-012024-05-31SC330264ns0:TotalRestrictedIncomeFunds2023-06-012024-05-31SC330264ns0:Activity92023-06-012024-05-31SC330264ns0:TotalUnrestrictedFundsns0:Activity92023-06-012024-05-31SC330264ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-06-012024-05-31SC330264ns0:Activity92022-06-012023-05-31SC330264ns0:Activity132023-06-012024-05-31SC330264ns0:TotalUnrestrictedFundsns0:Activity132023-06-012024-05-31SC330264ns0:Activity13ns0:TotalRestrictedIncomeFunds2023-06-012024-05-31SC330264ns0:Activity132022-06-012023-05-31SC330264ns0:TotalUnrestrictedFunds2023-05-31SC330264ns0:TotalRestrictedIncomeFunds2023-05-31SC330264ns0:TotalUnrestrictedFunds2024-05-31SC330264ns0:TotalRestrictedIncomeFunds2024-05-31SC330264ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-05-31SC330264ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2024-05-31SC330264ns10:WithinOneYear2024-05-31SC330264ns10:WithinOneYear2023-05-31SC330264ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-06-012024-05-31SC330264ns10:PlantMachinery2023-06-012024-05-31SC33026422023-06-012024-05-31SC33026412023-06-012024-05-31SC33026412022-06-012023-05-31SC33026462023-06-012024-05-31SC33026462022-06-012023-05-31SC330264ns10:OwnedAssets2023-06-012024-05-31SC330264ns10:OwnedAssets2022-06-012023-05-31SC330264ns0:TotalUnrestrictedFunds2022-06-012023-05-31SC330264ns0:TotalRestrictedIncomeFunds2022-06-012023-05-31SC330264ns0:TotalUnrestrictedFundsns0:Activity92022-06-012023-05-31SC330264ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-06-012023-05-31SC330264ns0:TotalUnrestrictedFundsns0:Activity132022-06-012023-05-31SC330264ns0:Activity13ns0:TotalRestrictedIncomeFunds2022-06-012023-05-31SC330264ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-05-31SC330264ns10:PlantMachinery2023-05-31SC330264ns10:OwnedOrFreeholdAssetsns10:LandBuildings2024-05-31SC330264ns10:PlantMachinery2024-05-31SC330264ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-05-31SC330264ns10:PlantMachinery2023-05-31
REGISTERED COMPANY NUMBER: SC330264 (Scotland)
REGISTERED CHARITY NUMBER: SC41360














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 May 2024

for

The Embo Trust (Urras Euraboil)

The Embo Trust (Urras Euraboil)






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




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4 to 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 16

The Embo Trust (Urras Euraboil) (Registered number: SC330264)

Report of the Trustees
for the Year Ended 31 May 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 May 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
The Articles of Association detail the purposes (4.0 to 4.6) and powers (5.0 to 5.25) of the company. In outline the purposes are to manage its land and assets for the benefit of the community as defined by the given postcode units following principles of sustainable development.

Volunteers
The Trust is fully insured with Victor for all its activities. The Public Entertainment licence is due for renewal in January 2026.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Trading Arm
Embo Trust (Trading) was dissolved on 2nd July 2024.

Trust Activities
The new Board of Directors were elected on 31/5/23. The immediate action was to find a tenant for the Café operation. Between June and August, four parties expressed an interest but, having inspected core costs, no party followed up their interest. It was thus obvious that a complete change of business plan was necessary to reduce expenditure to a minimum, and the Council Assessor was approached to remove all commercial identity from the Trust record on the Council business rates list. This was agreed retrospective to the start of the financial year. Negotiations then started with the utility providers to seek such charitable exemption from charges as could be conceded.

BIG Lottery were immediately informed of this change of plan, agreed it was necessary, and awarded transition funding of £19,600 to assist the move to the more sustainable operating model of the premises being solely and simply a village hall.

On this basis, fundraising was pursued through occasional hires of the premises, events such as Burns Night and Indian Night, and the establishment of the 200 Club in January 2024.

The Post Office continues to provide its resilience outreach service on Tuesday and Thursday mornings.

FINANCIAL REVIEW
Financial position
At the end of the year, the total reserves held by the charity were £1,117,962 (2023 - £1,139,474) of which £1,075,761 were restricted (£1,105,854, - 2023). At the end of the year, the charity had £42,201 (2023 - £33,620) in unrestricted funds, of which £38,782 was held in the bank (2023 - £23,159)..


The Embo Trust (Urras Euraboil) (Registered number: SC330264)

Report of the Trustees
for the Year Ended 31 May 2024


FINANCIAL REVIEW
Principal funding sources
Main grant funding came from the BIG Lottery, with additional contributions from the Ward 4 Discretionary Fund, the Beinn Tharsuinn Fund, and the Sutherland Drug & Alcohol Forum. The new 200 Club provided an immediate injection of funds at the start of 2024.

Reserves policy
In y/e 31/5/2023, the directors established a policy whereby the unrestricted funds held by the charity should be at least three months of general expenditure and the new Board saw no reason to change this.

Going concern
The change of direction arising from the commercial de-rating of the café involved slashing utility costs to an absolute minimum in the first instance. This was partly achieved after negotiation with Business Stream, their charitable exemption scheme allowing a refund of over £2,000 and a monthly saving of around £330. An additional saving of around £117 per month came from Highland Council's waste collection charges being reduced.

FUTURE PLANS
The main item of expenditure continues to be the SSE electricity charges. The Trust was stuck on a 2-year contract at 58p per unit and Standing & Capacity (S&C) Charges of around £600 per month until 31/8/24. A new contract after that time will have to see unit charges reduced and S&C Charges minimised. Also applications are being pursued for funding for an array of ground-mounted solar panels to help reduce power costs.

Occasional hires provide useful income and bookings can be done online and will be shown on the calendar (https://www.embotrust.co.uk). We hope it will also raise the profile of the Trust's various activities.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The governing documents of The Embo Trust (Urras Euraboil) are the Memorandum and Articles of Association of the company, incorporated on 3 September 2007. The company obtained charitable status on 29 March 2010.

The company is limited by guarantee of £1 per member and has no share capital. Permission has been granted from the Register of Companies to omit the word 'limited' from the company's name.

Recruitment and appointment of new trustees
Articles of Association numbers 31.0 - 40.7 deal with all stages from appointment to retiral of directors and allows for retirement to bring fresh blood to the board. The Board continues to have regular monthly meetings with zoom being used as necessary when physical meetings were not possible.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC330264 (Scotland)


The Embo Trust (Urras Euraboil) (Registered number: SC330264)

Report of the Trustees
for the Year Ended 31 May 2024

Registered Charity number
SC41360

Registered office
11 School Street
Embo
Sutherland
IV25 3PZ

Trustees
J W McGillivray
E C Whitham (appointed 14.2.24)
B Jones
C Grigg (resigned 29.1.24)
F Bonthrone (appointed 14.2.24)
J Cumming (appointed 30.9.23)
S A P Macdonald
K A Munro (appointed 15.4.24)

Company Secretary
J W McGillivray

Independent Examiner
Mackay & Co
Chartered Accountants
Unit 8
Golspie Business Park
Golspie
Sutherland
KW10 6UB

Approved by order of the board of trustees on 13 February 2025 and signed on its behalf by:





J W McGillivray - Trustee

Independent Examiner's Report to the Trustees of
The Embo Trust (Urras Euraboil)

I report on the accounts for the year ended 31 May 2024 set out on pages six 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.








Marcus MacIver CA
The Institute of Chartered Accountants of Scotland

Mackay & Co
Chartered Accountants
Unit 8
Golspie Business Park
Golspie
Sutherland
KW10 6UB

Date: .............................................

The Embo Trust (Urras Euraboil)

Statement of Financial Activities
for the Year Ended 31 May 2024

31.5.24 31.5.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 4,623 - 4,623 1,694

Charitable activities 5
Community Centre 22,275 5,140 27,415 1,729
Warm Hub Project - - - 5,625

Other trading activities 3 10,358 - 10,358 -
Investment income 4 1,195 - 1,195 8,025
Total 38,451 5,140 43,591 17,073

EXPENDITURE ON
Raising funds 6 4,799 - 4,799 -

Charitable activities 7
Community Centre 18,335 12,979 31,314 31,284
Warm Hub Project - - - 3,372

Other 1,150 27,840 28,990 30,120
Total 24,284 40,819 65,103 64,776

NET INCOME/(EXPENDITURE) 14,167 (35,679 ) (21,512 ) (47,703 )
Transfers between funds 16 (5,586 ) 5,586 - -
Net movement in funds 8,581 (30,093 ) (21,512 ) (47,703 )

RECONCILIATION OF FUNDS
Total funds brought forward 33,620 1,105,854 1,139,474 1,187,177

TOTAL FUNDS CARRIED FORWARD 42,201 1,075,761 1,117,962 1,139,474

The Embo Trust (Urras Euraboil) (Registered number: SC330264)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 12 4,619 1,075,761 1,080,380 1,108,227
Investments 13 - - - 100
4,619 1,075,761 1,080,380 1,108,327

CURRENT ASSETS
Debtors 14 - - - 7,540
Cash at bank and in hand 38,782 - 38,782 25,412
38,782 - 38,782 32,952

CREDITORS
Amounts falling due within one year 15 (1,200 ) - (1,200 ) (1,805 )

NET CURRENT ASSETS 37,582 - 37,582 31,147

TOTAL ASSETS LESS CURRENT
LIABILITIES

42,201

1,075,761

1,117,962

1,139,474

NET ASSETS 42,201 1,075,761 1,117,962 1,139,474
FUNDS 16
Unrestricted funds 42,201 33,620
Restricted funds 1,075,761 1,105,854
TOTAL FUNDS 1,117,962 1,139,474

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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.



The Embo Trust (Urras Euraboil) (Registered number: SC330264)

Balance Sheet - continued
31 May 2024

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.

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 13 February 2025 and were signed on its behalf by:





J W McGillivray - Trustee

The Embo Trust (Urras Euraboil)

Notes to the Financial Statements
for the Year Ended 31 May 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.

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.

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 - Straight line over 50 years
Plant and machinery - 20% on reducing balance

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.


The Embo Trust (Urras Euraboil)

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

1. ACCOUNTING POLICIES - continued

Fund accounting
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.

2. DONATIONS AND LEGACIES
31.5.24 31.5.23
£    £   
Donations 4,623 1,694

3. OTHER TRADING ACTIVITIES
31.5.24 31.5.23
£    £   
Fundraising events 10,358 -

4. INVESTMENT INCOME
31.5.24 31.5.23
£    £   
Rents received 1,195 4,475
Reimbursed utilities - 3,550
1,195 8,025

5. INCOME FROM CHARITABLE ACTIVITIES
31.5.24 31.5.23
Activity £    £   
Other income Community Centre 75 1,229
Grants Community Centre 27,340 500
Grants Warm Hub Project - 5,625
27,415 7,354

Grants received, included in the above, are as follows:
31.5.24 31.5.23
£    £   
Awards for All - 5,625
Highland Council 1,600 500
Beinn Tharsuinn 3,140 -
Big Lottery 19,600 -
Sutherland drug and alcohol forum 1,000 -
Carried forward 25,340 6,125

The Embo Trust (Urras Euraboil)

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

5. INCOME FROM CHARITABLE ACTIVITIES - continued
31.5.24 31.5.23
£    £   
Brought forward 25,340 6,125
North Highland Initiative 2,000 -
27,340 6,125

6. RAISING FUNDS

Raising donations and legacies
31.5.24 31.5.23
£    £   
Fundraising costs 4,799 -

7. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 8) Totals
£    £    £   
Community Centre 28,755 2,559 31,314

8. SUPPORT COSTS
Governance
Finance Other costs Totals
£    £    £    £   
Community Centre (470 ) 1,306 1,723 2,559

9. NET INCOME/(EXPENDITURE)

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

31.5.24 31.5.23
£    £   
Depreciation - owned assets 28,990 30,120
Surplus on disposal of fixed assets (470 ) (1,930 )


The Embo Trust (Urras Euraboil)

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

10. TRUSTEES' REMUNERATION AND BENEFITS

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


Trustees' expenses

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


11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,694 - 1,694

Charitable activities
Community Centre 1,729 - 1,729
Warm Hub Project - 5,625 5,625

Investment income 8,025 - 8,025
Total 11,448 5,625 17,073

EXPENDITURE ON
Charitable activities
Community Centre 31,284 - 31,284
Warm Hub Project - 3,372 3,372

Other 1,160 28,960 30,120
Total 32,444 32,332 64,776

NET INCOME/(EXPENDITURE) (20,996 ) (26,707 ) (47,703 )


RECONCILIATION OF FUNDS
Total funds brought forward 54,616 1,132,561 1,187,177

TOTAL FUNDS CARRIED FORWARD 33,620 1,105,854 1,139,474

The Embo Trust (Urras Euraboil)

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

12. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2023 1,184,769 72,522 1,257,291
Additions - 1,143 1,143
At 31 May 2024 1,184,769 73,665 1,258,434
DEPRECIATION
At 1 June 2023 104,350 44,714 149,064
Property depreciation 23,190 5,800 28,990
At 31 May 2024 127,540 50,514 178,054
NET BOOK VALUE
At 31 May 2024 1,057,229 23,151 1,080,380
At 31 May 2023 1,080,419 27,808 1,108,227

13. FIXED ASSET INVESTMENTS

There were no investment assets outside the UK.

During the year it was decided to wind up the subsidiary company, Embo Trading Limited, as it was no longer trading. The company had previously operated the community shop, but it was decided to cease this activity due to rising costs. The company was dissolved on 2 July 2024.

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Amounts owed by group undertakings - 7,540


The Embo Trust (Urras Euraboil)

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

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Accrued expenses 1,200 1,805

16. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.6.23 in funds funds 31.5.24
£    £    £    £   
Unrestricted funds
General fund 33,620 14,167 (5,586 ) 42,201

Restricted funds
Fourpenny Plantation 25,000 - - 25,000
Community Centre project 1,078,601 (27,840 ) - 1,050,761
Warm Hub Project 2,253 (2,539 ) 286 -
Legal fees - (200 ) 200 -
Heating improvements - (5,100 ) 5,100 -
1,105,854 (35,679 ) 5,586 1,075,761
TOTAL FUNDS 1,139,474 (21,512 ) - 1,117,962

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 38,451 (24,284 ) 14,167

Restricted funds
Community Centre project - (27,840 ) (27,840 )
Warm Hub Project - (2,539 ) (2,539 )
Legal fees 640 (840 ) (200 )
Heating improvements 4,500 (9,600 ) (5,100 )
5,140 (40,819 ) (35,679 )
TOTAL FUNDS 43,591 (65,103 ) (21,512 )


The Embo Trust (Urras Euraboil)

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

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.6.22 in funds 31.5.23
£    £    £   
Unrestricted funds
General fund 54,616 (20,996 ) 33,620

Restricted funds
Fourpenny Plantation 25,000 - 25,000
Community Centre project 1,107,561 (28,960 ) 1,078,601
Warm Hub Project - 2,253 2,253
1,132,561 (26,707 ) 1,105,854
TOTAL FUNDS 1,187,177 (47,703 ) 1,139,474

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 11,448 (32,444 ) (20,996 )

Restricted funds
Community Centre project - (28,960 ) (28,960 )
Warm Hub Project 5,625 (3,372 ) 2,253
5,625 (32,332 ) (26,707 )
TOTAL FUNDS 17,073 (64,776 ) (47,703 )

The Fourpenny Plantation Fund represents the value of the charity's assets made up by the land at the Fourpenny Plantation.


The Embo Trust (Urras Euraboil)

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

17. CONTINGENT LIABILITIES

The Trust has granted a standard security over the community centre to the The Big Lottery Fund up to the level of the grant received against breach of grant conditions within a specified time period. The level of grant was £758,322.

18. RELATED PARTY DISCLOSURES

The balance due to be received from the trading subsidiary, Embo Trading Ltd, at the year end was £0 (2023 - £7,540). A decision was taken to wind up the subsidiary company as it was no longer trading. The company was wound up on 2 July 2024.