Charity registration number SC040296 (Scotland)
Company registration number SC344641
ARDRISHAIG COMMUNITY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
ARDRISHAIG COMMUNITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
Mr Arthur Barclay
Mr Duncan Broadfoot
Mr Edward Laughton
Mr Hamish Nicol
Mrs Linda Quelch
Mrs Lynn Gorrie
Mrs L Campbell
(Appointed 17 September 2024)
Secretary
Mr Duncan Broadfoot
Charity number (Scotland)
SC040296
Company number
SC344641
Principal address
Ardrishaig Community Trust
61 Chalmers Street
Ardrishaig
Argyll
PA30 8DX
Registered office
The Old Surgery
School Road
Tarbert
Argyll
PA29 6UL
Independent examiner
Iain D C Webster
The Old Surgery
School Road
Tarbert
Argyll
PA29 6UL
Bankers
The Co-operative Bank
www.co-operativebank.co.uk
ARDRISHAIG COMMUNITY TRUST
CONTENTS
Page
Directors' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Statement of financial position
6
Notes to the financial statements
7 - 21
ARDRISHAIG COMMUNITY TRUST
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -
The directors present their report and trust accounts for the year ended 31 October 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Memorandum and Articles of Association (as amended), the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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

The Trust's objectives are:-

 

To advance the development and regeneration of Ardrishaig for the benefit of the community and the public in general following general principles of sustainable development.

 

To manage community land and community assets for the benefit of the community and the public in general following the principles of sustainable development.

 

To provide or assist in providing recreational facilities and/or organising recreational activities which will be available to members of the public at large with the object of improving the conditions of life of the community following the principles of sustainable development.

 

To advance the education of the community about its environment, culture and history.

 

To advance environmental protection or improvement including preservation and conservation of the natural environment, the promotion of sustainable development, 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.

Public benefit

The directors have paid due regard to guidance issued by the Office of the Scottish Charity Regulator (OSCR) in deciding what activities the charity should undertake.

Grant making policy

One of the Trust's activities is the making of grants that benefit the people and community of Ardrishaig, and the wider public. These grants are concentrated primarily within Ardrishaig community area which is defined by the PA30 postcodes plus PA31 8NH and PA31 8NY. Grants made outside this area are only made on the basis of clear benefit to the Ardrishaig community.

Grants are made in accordance with the Trust's Memorandum & Articles of Association and are made to meet the Trusts objectives.

Applications for grants will not be accepted from the following:

ARDRISHAIG COMMUNITY TRUST
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
Achievements and performance
Significant activities and achievements against objectives

Ardrishaig Renewable Energies Ltd. (ARE) is a wholly owned subsidiary of the Trust. It is the Trust's trading business which is a member of Allt Dearg Wind Farmers LLP (ADWF). ARE gifted to the Trust £448,625. There was no specific ACTion Fund distribution held during the year. There were however grants made to local causes totalling £16,000.

 

The Trust continued to receive quarterly grants for the Strengthening Communities Program to employ the Development Officer (DO), resident in the Public Hall (PH) office, with main duties to include developing the business and market the use of the Trust assets and create a program of activities. Her presence in the PH office has provided a significant and useful contact between the Trust and community. This has resulted in a significant increase in usage of the assets by the community and community groups which in turn has improved the revenue from the rent of the facilities. Examples of usage include quiz nights, indoor skating, pottery making, pantomime, toddler pre-school, musical evenings, flower and model show.

 

The Ardrishaig community is well pleased as the Trust continued to improve and enhance the facilities, in particular, the kitchen with a commercial cooker, dishwasher and fridge. The kitchen has now the addition of a pantry. The ladies toilet facility had been significantly refurbished This is now marketed as a community kitchen fit for use by weddings, organizations, private parties, coffee morning. A separate space in the PH is being created as a so called “green room” for use by performers to prepare before performances.

Financial review
Reserves policy

The board has continued the policy of building up a strategic cash reserve over this financial year, with a view to being able to support local redevelopments being planned at this time. The Trust Board noted that the Trust is over half of the way into the Alt Dearg Wind Farm income and wish to leave a lasting legacy for the village in the future. As stated before this will strengthen the position of the Trust and its members in any future plans for the village.

 

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months anticipated expenditure above the strategic reserve. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised. In order not to compromise the Trust's charitable status the accounts need to show that the assets are sufficient to enable the Trust to repay its borrowings.

Major risks

The directors have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

Future plans include consolidating, fulfilling and developing the Trust's present objectives. It is anticipated that the income derived from the wind farm will be in excess of £80,000 per annum. The Directors will consider acquiring additional property which would offer the community opportunity for health and recreational activity and community business start-ups.

Structure, governance and management
The charity is constituted as "incorporated by guarantee and not having share capital", governed by its Memorandum and Articles of Association. It is recognised as a charity for the purposes of s505 ICTA 1988 and is entitled under chapter 2 paragraph 13 of The Charities and Trustee Investment (Scotland) Act 2005 to describe itself as a Scottish Charity.
ARDRISHAIG COMMUNITY TRUST
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
The members of the trust who were elected to serve as directors during the year were:
Mr Arthur Barclay
Mr Duncan Broadfoot
Mr Edward Laughton
Mr Hamish Nicol
Mrs Linda Quelch
Mrs Lynn Gorrie
Mrs L Campbell
(Appointed 17 September 2024)
Recruitment and appointment of trustees
Directors are elected by the membership of the trust.

None of the directors have any beneficial interest in the company. All of the directors are members of the company and guarantee to contribute £1 in the event of a winding up.
Organisational structure

Membership is open to the Ardrishaig Community through a process of application. Members have democratic control of the trust with all members having one equal vote. Those serving as elected officials are accountable to the membership.

The directors' report was approved by the Board of Directors.

Mr Duncan Broadfoot
Mr Edward Laughton
Director
Director
20 June 2025
ARDRISHAIG COMMUNITY TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF ARDRISHAIG COMMUNITY TRUST
- 4 -

I report on the financial statements of the charity for year ended 31 October 2024, which are set out on pages 5 to 21.

Respective responsibilities of directors and examiner

The charity trustees (who are also the directors of Ardrishaig Community Trust for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.The the charity directors consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.

It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.

Basis of independent examiner's statement
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 seeks explanations from the directors 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 these accounts.
Independent examiner's statement

In the course of my examination, no matter has come to my attention

 

1. which gives me reasonable cause to believe that in any material respect the requirements:

have not been met, or

 

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Iain D C Webster

CA

The Old Surgery
School Road
Tarbert
Argyll
PA29 6UL
20 June 2025
ARDRISHAIG COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
438,625
1,500
440,125
439,907
3,656
443,563
Charitable activities
4
18,553
31,150
49,703
16,517
34,002
50,519
Investments
5
-
-
-
2
-
2
Total income
457,178
32,650
489,828
456,426
37,658
494,084
Expenditure on:
Charitable activities
6
78,471
31,272
109,743
46,700
32,924
79,624
Total expenditure
78,471
31,272
109,743
46,700
32,924
79,624
Net gains/(losses) on investments
12
13,392
-
13,392
(27,500)
-
(27,500)
Net income
392,099
1,378
393,477
382,226
4,734
386,960
Transfers between funds
13
(85)
85
-
(116)
116
-
Net movement in funds
9
392,014
1,463
393,477
382,110
4,850
386,960
Reconciliation of funds:
Fund balances at 1 November 2023
1,515,157
12,154
1,527,311
1,133,047
7,304
1,140,351
Fund balances at 31 October 2024
1,907,171
13,617
1,920,788
1,515,157
12,154
1,527,311

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ARDRISHAIG COMMUNITY TRUST
STATEMENT OF FINANCIAL POSITION
AS AT
31 OCTOBER 2024
31 October 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
14
1,362,357
809,547
Investments
15
161,805
148,413
1,524,162
957,960
Current assets
Trade and other receivables
16
218,349
274,509
Cash at bank and in hand
265,388
400,722
483,737
675,231
Current liabilities
17
(39,361)
(41,356)
Net current assets
444,376
633,875
Total assets less current liabilities
1,968,538
1,591,835
Non-current liabilities
18
(47,750)
(64,524)
Net assets
1,920,788
1,527,311
The funds of the the charity
Restricted income funds
20
13,617
12,154
Unrestricted funds
21
1,907,171
1,515,157
1,920,788
1,527,311

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the directors on 20 June 2025
Mr Edward Laughton
Director
Company registration number SC344641 (Scotland)
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 7 -
1
Accounting policies
Charity information

Ardrishaig Community Trust is a private company limited by guarantee incorporated in Scotland. The registered office is The Old Surgery, School Road, Tarbert, Argyll, PA29 6UL.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Trust's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)". The the charity is a Public Benefit Entity as defined by FRS 102.

 

The the charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the the charity.
1.4
Income
Income is recognised when the the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Where it is possible to identify payment for services received in advance, such payments are recognised as deferred income.

Income received for the hire of the North Church Hall and Public Hall is recognised at the time the service becomes final, usually upon receipt of payment from third parties.

ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 8 -
1.5
Expenditure

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the Charity Activities as expended on the SOFA.

 

Support and governance costs have been allocated to various charitable activities on a basis for which the directors believe is representative of each activities relative share of costs.

1.6
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
Nil
Plant and machinery
20% reducing balance
Solar panels
3.5% straight line
IT and office equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

The cost of Land (£6,000), the North Church Hall (£88,603) and Office space (£25,780) are held at purchase costs which the directors believe represents the fair value of the assets as at the balance sheet date.

 

The fair value of the Public Hall and associated equipment has been assessed by the directors to be at its carrying value (acquisition cost plus redevelopment costs) as at the balance sheet date.

1.7
Non-current investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of non-current assets

At each reporting end date, the the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 9 -
1.10
Financial instruments

The the charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the the charity's balance sheet when the the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the the charity’s contractual obligations expire or are discharged or cancelled.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 10 -
3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
438,625
1,500
440,125
439,907
1,256
441,163
Grants
-
-
-
-
2,400
2,400
438,625
1,500
440,125
439,907
3,656
443,563

Donations of £438,625 (2023: £439,907) were received from Ardrishaig Renewable Energies Ltd, a company that is wholly owned by Ardrishaig Community Trust. This donation includes donations made under Gift Aid where applicable.

 

Other donations for the year consisted of a restricted donation received from Z Campbell for sound equipment for the public hall. (2023: restricted donations were received from the general public for the Christmas Lights (£1,005) and from Landcatch Fishfarm for the "Warm Places").

4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
North and Public Halls
Charitable rental income
18,491
-
18,491
16,455
-
16,455
Community Growth
Performance related grants
-
16,150
16,150
-
34,002
34,002
Soup Group
Performance related grants
-
5,000
5,000
-
-
-
Christmas Lights
Performance related grants
-
10,000
10,000
-
-
-
Robbers Den
Other income
62
-
62
62
-
62
18,553
31,150
49,703
16,517
34,002
50,519
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
4
Income from charitable activities
(Continued)
- 11 -
Performance related grants analysis
Community Growth
Soup Group
Christmas Lights
Total
Community Growth
2024
2024
2024
2024
2023
£
£
£
£
£
Community Mental Health & Wellbeing Fund
-
5,000
-
-
-
DTAS
16,150
-
-
-
-
The National Lottery
-
-
10,000
-
-
Other
-
-
-
-
34,002
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
-
2
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 12 -
6
Expenditure on charitable activities
ACTion fund
North and Public Halls
Christmas Lights
Soup Group
Community Growth
Gala and other events
Total
2024
2024
2024
2024
2024
2024
2024
£
£
£
£
£
£
£
Direct costs
Staff costs
-
3,247
-
-
24,792
-
28,039
Depreciation and impairment
-
-
1,146
600
796
-
2,542
Maintenance costs
-
9,651
-
-
33
-
9,684
Heating and electric
-
11,042
-
-
-
-
11,042
Insurance
-
3,416
-
-
-
-
3,416
Telephone
-
-
-
-
786
-
786
Postage and office
-
-
-
-
90
-
90
Event expenditure
-
3,427
1,659
1,085
-
253
6,424
Professional fees
-
58
-
-
-
-
58
Caretaker
-
3,712
-
-
17,600
-
21,312
-
34,553
2,805
1,685
44,097
253
83,393
Grant funding of activities (see note 7)
16,000
-
-
-
-
-
16,000
Share of support and governance costs (see note 8)
Support
-
1,774
1,475
1,475
1,475
1,475
7,674
Governance
-
536
535
535
535
535
2,676
16,000
36,863
4,815
3,695
46,107
2,263
109,743
Analysis by fund
Unrestricted funds
16,000
36,563
2,025
2,010
19,610
2,263
78,471
Restricted funds
-
300
2,790
1,685
26,497
-
31,272
16,000
36,863
4,815
3,695
46,107
2,263
109,743
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
6
Expenditure on charitable activities
(Continued)
- 13 -
Previous year:
ACTion fund
North and Public Halls
Christmas Lights
Community Growth
Robbers Den
Gala and other events
Total
2023
2023
2023
2023
2023
2023
2023
£
£
£
£
£
£
£
Direct costs
Staff costs
-
-
-
27,364
-
-
27,364
Depreciation and impairment
-
-
-
838
-
-
838
Maintenance costs
-
16,462
-
177
-
-
16,639
Heating and electric
-
11,323
-
-
-
-
11,323
Insurance
-
3,051
-
-
-
-
3,051
Telephone
-
-
-
923
-
-
923
Postage and office
-
-
-
201
-
-
201
Event expenditure
-
-
2,437
497
-
526
3,460
Professional fees
-
-
-
400
-
-
400
Subscriptions
-
-
-
-
22
-
22
-
30,836
2,437
30,400
22
526
64,221
Grant funding of activities (see note 7)
3,110
-
-
-
-
-
3,110
Share of support and governance costs (see note 8)
Support
-
6,469
725
1,824
-
725
9,743
Governance
-
636
638
638
-
638
2,550
3,110
37,941
3,800
32,862
22
1,889
79,624
Analysis by fund
Unrestricted funds
3,110
35,542
3,800
2,462
22
1,764
46,700
Restricted funds
-
2,399
-
30,400
-
125
32,924
3,110
37,941
3,800
32,862
22
1,889
79,624
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 14 -
7
Grants payable

ACTion fund

ACTion fund

2024
2023
£
£
Grants to institutions (3 grants):
Mid Argyll Youth Development Services
-
250
Mid Argyll Athletics Club
-
250
-
250
Mid Argyll Community Pool
10,000
-
Lochgilphead Soccer Centre
1,000
1,000
Redstar
5,000
360
19th Argyll Scouts
-
1,000
16,000
3,110
8
Support costs allocated to activities
2024
2023
£
£
Depreciation
5,602
4,025
Telephone
54
-
Heat and light
704
1,800
Insurance
449
232
Subscriptions
524
522
Postage and stationary
154
344
Donations
55
-
Miscellanious costs
132
-
Professional fees
-
2,820
Governance costs
2,676
2,550
10,350
12,293
Analysed between:
North and Public Halls
2,310
7,105
Christmas Lights
2,010
1,363
Soup Group
2,010
-
Community Growth
2,010
2,462
Gala and other events
2,010
1,363
10,350
12,293
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
8
Support costs allocated to activities
(Continued)
- 15 -
2024
2023
Governance costs comprise:
£
£
Accountancy
2,676
2,550
2,676
2,550

Governance costs includes payments of £1,100 (2023- £1,050) for Independent Examination services.

9
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
-
-
Depreciation of owned property, plant and equipment
8,144
4,863
10
Directors

None of the directors (or any persons connected with them) received any remuneration during the year, however one was reimbursed a total of £3,987 (2023: 1 directors totalling £5,255) for expenses.

 

Further payments were made to a related party, which are disclosed at note 24.

11
Employees

The average monthly number of employees, including directors, during the year was:

2024
2023
Number
Number
Trustees
7
6
Development officer
1
1
Caretaker
1
-
Total
9
7
Employment costs
2024
2023
£
£
Wages and salaries
28,039
26,764
Other pension costs
-
600
28,039
27,364
There were no employees whose annual remuneration was more than £60,000.
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 16 -
12
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
2024
2023
Gains/(losses) arising on:
£
£
Revaluation of investments
13,392
(27,500)
13
Transfers

Transfers totalling £985 were made from unrestricted funds to restricted funds representing costs associated with the the Development Officer and associated work that were not covered by grant funding received from the Scottish Government.

 

Likewise a transfer of £900 was made from restricted funds to unrestricted funds with respect to grant funding received from The Scottish Government for the Soup Group to cover general overhead costs of the project as set out within the funding document and agreement with the funder.

 

The net result is a net £85 transferred from unrestricted to restricted funds for the year.

14
Property, plant and equipment
Land and buildings
Plant and machinery
Solar panels
IT and office equipment
Total
£
£
£
£
£
Cost
At 1 November 2023
791,120
30,565
-
2,767
824,452
Additions
497,913
11,565
51,476
-
560,954
At 31 October 2024
1,289,033
42,130
51,476
2,767
1,385,406
Depreciation and impairment
At 1 November 2023
-
13,886
-
1,019
14,905
Depreciation charged in the year
-
5,649
1,802
693
8,144
At 31 October 2024
-
19,535
1,802
1,712
23,049
Carrying amount
At 31 October 2024
1,289,033
22,595
49,674
1,055
1,362,357
At 31 October 2023
792,169
15,630
-
1,748
809,547

 

ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 17 -
15
Fixed asset investments
Other investments
£
Cost or valuation
At 1 November 2023
148,413
Valuation changes
13,392
At 31 October 2024
161,805
Carrying amount
At 31 October 2024
161,805
At 31 October 2023
148,413
2024
2023
Other investments comprise:
Notes
£
£
Investments in subsidiaries
24
161,805
148,413
16
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
1,335
-
Amounts owed by subsidiary undertakings
213,810
271,584
Prepayments and accrued income
3,204
2,925
218,349
274,509
17
Current liabilities
2024
2023
£
£
Trade payables
19,770
21,891
Amounts owed to subsidiary undertakings
16,774
16,774
Other payables
141
141
Accruals and deferred income
2,676
2,550
39,361
41,356
18
Non-current liabilities
2024
2023
£
£
Amounts owed to subsidiary undertakings
47,750
64,524
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 18 -
19
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
-
600

The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the the charity in an independently administered fund.

20
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 November 2023
Incoming resources
Resources expended
Transfers
At 31 October 2024
£
£
£
£
£
Scottish Government - Strengthening Communities
11,023
16,150
(26,497)
985
1,661
Landcatch Fishfarm
125
-
-
(125)
-
Public donations - Christmas Lights
1,006
-
-
-
1,006
National Lottery
-
10,000
(2,790)
-
7,210
Scottish Government
-
5,000
(1,685)
(775)
2,540
Z Campbell (Donation)
-
1,500
(300)
-
1,200
12,154
32,650
(31,272)
85
13,617
Previous year:
At 1 November 2022
Incoming resources
Resources expended
Transfers
At 31 October 2023
£
£
£
£
£
Argyll & Bute Council
-
2,400
(2,400)
-
-
Scottish Government - Strengthening Communities
7,304
34,002
(30,399)
116
11,023
Landcatch Fishfarm
-
250
(125)
-
125
Public donations - Christmas Lights
-
1,006
-
-
1,006
7,304
37,658
(32,924)
116
12,154
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
20
Restricted funds
(Continued)
- 19 -

The £1,500 donation received from Z Campbell was to allow the Trust to purchase sound equipment for the Public Hall.

 

The £11,023 grant funding (brought forward) and £16,150 received from the Scottish Government was funding towards maintaining the services of a development officer and to meet office set-up costs for this project. The closing balance of £1,661 comprises of computer and office equipment at net book value that have been capitalised. As this project has now ceased, the NBV of the equipment will be transferred to general funds in the next financial year.

 

The brought forward balance of £1,006 was received for the Christmas Lights representing various donations collected from the public to meet future costs of the Christmas Lights as they arise. This was supported by a further grant of £10,000 received from the National Lottery Fund during this year.


The £150 brought forward balance was received via a donation made by Landcatch to be used towards supporting "warmer places". This balance was reallocated towards the Soup Group (below) on bequest of the funder.


£5,000 was received from The Scottish Government as part of the Community Mental Health & Wellbeing Fund which was used to support a community Soup Group held within the Public Hall.

21
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.

At 1 November 2023
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 October 2024
£
£
£
£
£
£
General funds
1,515,157
457,178
(78,471)
(85)
13,392
1,907,171
Previous year:
At 1 November 2022
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 October 2023
£
£
£
£
£
£
General funds
1,133,047
456,426
(46,700)
(116)
(27,500)
1,515,157
ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 20 -
22
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 October 2024:
Property, plant and equipment
1,352,513
9,844
1,362,357
Investments
161,805
-
161,805
Current assets/(liabilities)
440,603
3,773
444,376
Long term liabilities
(47,750)
-
(47,750)
1,907,171
13,617
1,920,788
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 October 2023:
Property, plant and equipment
809,547
-
809,547
Investments
148,413
-
148,413
Current assets/(liabilities)
621,721
12,154
633,875
Long term liabilities
(64,524)
-
(64,524)
1,515,157
12,154
1,527,311
23
Related party transactions
Transactions with related parties

During the year the charity entered into the following transactions with related parties:

During the year an amount of £3,986.91 (2023: £1,888.95) was paid to Kenneths of Stronachulin LLP, a limited liability partnership in which Duncan Broadfoot is a partner. This represented costs incurred by Ardrishaig Community Trust that were settled via this LLP.

 

At the balance sheet date there were no amounts payable to Kenneths of Stronachulin LLP representing supplier payments made, but not yet reimbursed.

ARDRISHAIG COMMUNITY TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
23
Related party transactions
(Continued)
- 21 -

The following amounts were outstanding at the reporting end date:

Amounts owed to related parties
2024
2023
£
£
Entities over which the entity has control, joint control or significant influence
64,524
81,298

The following amounts were outstanding at the reporting end date:

Amounts owed by related parties
Amounts owed by related parties
2024
2023
Balance
Net
Balance
Net
£
£
£
£
Entities with control, joint control or significant influence over the company
213,810
213,810
271,584
271,584
213,810
213,810
271,584
271,584

At the balance sheet date an amount of £222,226 (2023: £270,000) was owed by Ardrishaig Renewable Energies Ltd representing gift-aided donations receivable for the year.

24
Subsidiaries

These financial statements are separate Trust financial statements from Ardrishaig Renewable Energies Ltd (ARE) which is an intermediate holding company for the investment in ADWF.

Details of the the charity's subsidiaries at 31 October 2024 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Ardrishaig Renewable Energies Ltd
Scotland
Investment company
Ordinary
100.00

The investment in the subsidiary is stated at its fair value which is deemed to be its Net Asset value as at 31 October 2024. The Net Asset value excludes any uplift in the underlying fair value of the subsidiary's interest in ADWF.

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