Clan Donnachaidh Society Charity Accounts

COMPANY REGISTRATION NUMBER: SC267317

CHARITY REGISTRATION NUMBER: SC044296

Clan Donnachaidh Society

Company Limited by Guarantee

Unaudited Financial Statements

For the year ended

31 December 2024

Clan Donnachaidh Society

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2024

	Page

Trustees' annual report (incorporating the directors' report)	1

Independent examiner's report to the trustees	4

Statement of financial activities (including income and expenditure account)	6

Statement of financial position	7

Notes to the financial statements	9

Clan Donnachaidh Society

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors' Report)

Year ended 31 December 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024 .

Reference and administrative details

Registered charity name	Clan Donnachaidh Society

Charity registration number	SC044296

Company registration number	SC267317

Principal office and registered	51 Atholl Road
office	Pitlochry
	Perthshire
	PH16 5BU

The trustees

	Mr A G H Robertson of Struan (Clan Chief)
	Mr J E Duncan (Chairman)
	Mrs K P Duncan
	Mr E F Guevara
	Mrs E A Reid
	Mr A Robertson of Drumachuine
	Mr D M Robertson	(Retired 21 January 2024)
	Mr J Robertson
	Ms S Robertson
	Mr E A Stewart	(Appointed 21 January 2024)
	Ms S McNutt

Independent examiner	Graeme Tough C A
	26/30 Bonnethill Road
	Pitlochry
	PH16 5BS

Structure, governance and management

The charity is a company registered in Scotland and limited by guarantee incorporated under the Companies Act 2006. The company has been registered as a Scottish charity since 2 October 2013.

The detailed rules regarding the appointment, term of office and compulsory retiral of trustees are set out in Section 8 of the Memorandum and Articles of Association.

Training is given to trustees as and when required. OSCR guidance and updates are shared with trustees when available.

When new trustees are elected the Society makes them aware of their responsibilities, the governing document, administrative procedures and the history of the charity.

Objectives and activities

The objectives and activities of the charity are:

(a) to promote the history, heritage and sentiment of the Clan Donnachaidh in Scotland and elsewhere in the world;

(b) to promote education of the public generally and conduct educational research programmes, produce publications and create other materials conducive to the objects;

(c) to provide, maintain and administer facilities for the advancement of education and for the conservation and preservation of the lands, buildings, traditions, museum, records, and artefacts of whatever nature relating to the Clan Donnachaidh;

(d) to encourage, sustain and support educational establishments and other charitable bodies by giving from time to time grants, prizes, subscriptions and donations; and

(e) to do anything as will further the attainment of these Objectives, except that the members of the Trust will not be permitted to do anything political or sectarian in their capacity as members of the Trust or which will cause the Trust to cease being recognised as a charity in Scotland.

Achievements and performance

During September 2024 the Society hosted a Gathering and held its AGM in Pitlochry and surrounding clan lands. There was a pleasing level of attendance, and all enjoyed participating in a range of events including the Pitlochry Highland Games and the Chief's Dinner.

Throughout the year the Society received reports from branches of attendance at Highland Games and other events held worldwide. These events continue to give us hope and promise that the Clan Donnachaidh's history continues to be preserved and shared widely across all continents.

The Council is pleased to report that funds remain stable with an additional generous legacy received from a Clan member in the USA who sadly passed away. Disclosure of the full sum will be included in the 2025 accounts once the estate has been concluded and liquidated.

The Society completed its work on the refreshed website which includes several pages of historical educational pages, as well as pages for branch information. The website will focus on continuing the Society's objective of promoting Scottish history and heritage as well as providing a virtual centre of communication for reach out and growing our membership - all in the fulfilment of our aims and objectives.

The major event of the year was the acquisition of the land and buildings of Struan Kirk on dissolution of the Struan Kirk Trust. Struan Kirk will now be owned and managed by the Society, in line with the objectives and activities set out above.

Financial review

The notable event for the Society in 2024 was the acquisition of Struan Kirk. This property has not yet been professionally valued and has instead been included in donations income at the valuation of £364,282 used for insurance purposes. The moveable assets of the Struan Kirk Trust on dissolution amounted to £4,532 and have been included in restricted donations.

Apart from this significant contribution, the other income of the Society remained at similar levels to the previous year. The most important ongoing source of income continued to be the letting of property at Bruar, which again brought in rent of £18,696 (2023: £18,696), followed by membership subscriptions and Clan Annual advertising which together produced £9,738 (2023: £11,610). Total income for the year was £416,747 (2023: £53,626).

Expenditure was also comparable to last year in most categories. Of the significant variations was, firstly, the smaller expenditure of £2,968 (2023: £8,091) on the Gathering and AGM as this event returned to a normal level after the large 2023 Gathering. Secondly, a refund of £1,887 was received for business rates wrongly charged to the Society over a number of years. It has now been confirmed that the Society is eligible for 100% relief on business rates. Total expenditure for the year was £50,330 (2023: £56,933).

Listed investments held by the Society made a gain in value of £2,652 (2023: loss of £1,806).

The overall result for the year was net income of £369,069 (2023: net expenditure of £5,113) which increased total funds to 1,086,391 (2023: £717,322).

Of total funds, the amount ring-fenced for specific purposes at 31 December 2024 was £82,403 (2023: £74,597). A detailed analysis of all funds is shown in note 23 to the financial statements.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report (incorporating the directors' report) was approved on 23 August 2025 and signed on behalf of the board of trustees by:

Mr J E Duncan (Chairman)

Trustee

Clan Donnachaidh Society

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Clan Donnachaidh Society

Year ended 31 December 2024

I report to the trustees on my examination of the financial statements of Clan Donnachaidh Society ('the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Independent examiner's statement

Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of ICAS which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or

2. the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Graeme Tough C A Independent Examiner

26/30 Bonnethill Road Pitlochry PH16 5BS

23 August 2025

Clan Donnachaidh Society

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 December 2024

	2024			2023
	Unrestricted funds	Restricted funds	Total funds	Total funds
Note	£	£	£	£

Income and endowments

Donations, legacies and membership	5	374,930	5,321	380,251	14,656
Charitable activities	6	8,108	–	8,108	11,210
Investment income	7	23,410	3,268	26,678	26,465
Other income	8	1,710	–	1,710	1,295
		---------	-------	---------	--------
Total income		408,158	8,589	416,747	53,626
		---------	-------	---------	--------

Expenditure

Expenditure on raising funds:

	Investment management costs		9	( 2,905)	–	( 2,905)	( 2,582)
Expenditure on charitable activities		10,11		( 45,579)	( 1,846)	( 47,425)	( 54,351)
				--------	-------	--------	--------
Total expenditure				( 48,484)	( 1,846)	( 50,330)	( 56,933)
				--------	-------	--------	--------

Net gains/(losses) on investments	12	1,589	1,063	2,652	( 1,806)

	---------	-------	---------	--------
Net income/(expenditure) and net movement in funds	361,263	7,806	369,069	( 5,113)
	---------	-------	---------	--------

Reconciliation of funds

Total funds brought forward	642,725	74,597	717,322	722,435
	------------	--------	------------	---------
Total funds carried forward	1,003,988	82,403	1,086,391	717,322
	------------	--------	------------	---------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Clan Donnachaidh Society

Company Limited by Guarantee

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible fixed assets	17	840,002	475,314
Investments	18	155,016	152,363
		---------	---------
		995,018	627,677

Current assets

Stock	19	2,747	3,127
Debtors	20	8,618	7,431
Cash at bank and in hand		94,319	94,388
		---------	---------
		105,684	104,946

Creditors: amounts falling due within one year	21	14,311		15,301
		---------		---------
Net current assets			91,373	89,645
			------------	---------
Total assets less current liabilities			1,086,391	717,322
			------------	---------
Net assets			1,086,391	717,322
			------------	---------

Funds of the charity

Restricted funds		82,403	74,597

Unrestricted funds:

	Revaluation reserve		255,000		255,000
	Other unrestricted income funds		748,988		387,725
			------------		---------
Total unrestricted funds			1,003,988		642,725
				------------	---------
Total charity funds		23		1,086,391	717,322
				------------	---------

For the year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

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

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

Clan Donnachaidh Society

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of trustees and authorised for issue on 23 August 2025 , and are signed on behalf of the board by:

Mrs E A Reid

Trustee

Clan Donnachaidh Society

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is 51 Atholl Road, Pitlochry, Perthshire, PH16 5BU.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Rounding of monetary values throughout the financial statements has been completed to the nearest pound sterling.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The only significant estimate made concerns the value of Struan Kirk, which was gifted by Struan Kirk Trust during the year. The property has been included in the accounts at the valuation used for insurance purposes.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency by applying the average exchange rate applying in the month in which transactions fall. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. Restricted funds are subject to restrictions on their expenditure imposed by the donor.

Incoming resources

Income All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. Donations and legacy income is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donations of trading stock are valued using current unit costs. Donations of other non-financial assets are, in the absence of a professional valuation, included at market value according to the best judgement of the trustees. Investment income is included when receivable. Income from charitable trading activity is accounted for when earned. This includes fundraising income and income from attendees at the AGM Dinner. Income from membership subscriptions is treated according to the duration of membership: annual subscriptions are recognised when received; 5 Year subscriptions are apportioned over 5 years and the appropriate annual amounts recognised as they fall due; Lifetime subscriptions are apportioned over 10 years. The balance of 5 Year and Lifetime membership income not brought into income by the end of any one year is accounted for as deferred income within creditors.

Resources expended

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Computer equipment	-	25% straight line

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Cash and cash equivalents

Cash and cash equivalents consist of cash in hand and deposits held at call with banks.

Investment property

Investment properties are revalued on a regular basis at their fair values in accordance with the Financial Reporting Standard 102. The surplus or deficit on revaluation is transferred to the statement of financial activities.

No depreciation is provided in respect of such properties. Although the Companies Act 2006 would normally require the systematic annual depreciation of fixed assets it is believed that this policy of not providing depreciation is necessary for the accounts to give a true and fair view, since the current value of investment properties, and changes in that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been shown cannot be separately identified or quantified.

4. Limited by guarantee

The liability of each member in the event that the company is wound up is limited to £1.

5. Donations, legacies and membership

Unrestricted Funds	Restricted Funds	Total Funds 2024
£	£	£

Donations

Cash donations	910	5,321	6,231
Trading stock donations	–	–	–
Heritable property donations	364,282	–	364,282

Subscriptions

Subscriptions and contributions to Clan Annual	9,738	–	9,738
	---------	-------	---------
	374,930	5,321	380,251
	---------	-------	---------

Unrestricted Funds	Restricted Funds	Total Funds 2023
£	£	£

Donations

Cash donations	1,459	747	2,206
Trading stock donations	840	–	840
Heritable property donations	–	–	–

Subscriptions

Subscriptions and contributions to Clan Annual	11,610	–	11,610
	--------	----	--------
	13,909	747	14,656
	--------	----	--------

The land and buildings of Struan Kirk were transferred to the Society by the Struan Kirk Trust at a valuation of £364,282.

6. Charitable activities

	Unrestricted Funds	Total Funds 2024	Unrestricted Funds	Total Funds 2023
	£	£	£	£
Sale of goods/services as part of direct charitable activities	5,449	5,449	2,255	2,255
Income from Clan Gathering	2,659	2,659	8,955	8,955
	-------	-------	--------	--------
	8,108	8,108	11,210	11,210
	-------	-------	--------	--------

7. Investment income

	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
Income from investment properties	18,696	–	18,696
Income from listed investments	4,377	3,097	7,475
Bank interest receivable	337	171	507
	--------	-------	--------
	23,410	3,268	26,678
	--------	-------	--------

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Income from investment properties	18,696	–	18,696
Income from listed investments	4,887	2,430	7,317
Bank interest receivable	331	121	452
	--------	-------	--------
	23,914	2,551	26,465
	--------	-------	--------

8. Other income

	Unrestricted Funds	Total Funds 2024	Unrestricted Funds	Total Funds 2023
	£	£	£	£
Employment Allowance	1,710	1,710	1,295	1,295
	-------	-------	-------	-------

9. Investment management costs

Portfolio management consists of fees charged for management of the listed investments held by the Society.

Property expenses are those relating to the buildings let to House of Bruar.

	Unrestricted Funds	Total Funds 2024	Unrestricted Funds	Total Funds 2023
	£	£	£	£
Portfolio management	974	974	522	522
Property insurance	1,877	1,877	1,727	1,727
Property security	54	54	333	333
	-------	-------	-------	-------
	2,905	2,905	2,582	2,582
	-------	-------	-------	-------

10. Expenditure on charitable activities by fund type

	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
Clan promotion	40,748	–	40,748
Struan Kirk	–	1,846	1,845
Support costs	4,831	–	4,832
	--------	-------	--------
	45,579	1,846	47,425
	--------	-------	--------

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Clan promotion	45,507	2,840	48,346
Struan Kirk	–	–	–
Support costs	6,004	–	6,005
	--------	-------	--------
	51,511	2,840	54,351
	--------	-------	--------

11. Expenditure on charitable activities by activity type

	Activities undertaken directly	Support costs	Total funds 2024	Total fund 2023
	£	£	£	£
Clan promotion	40,748	–	40,748	48,346
Struan Kirk	1,845	–	1,845	–
Governance costs	–	4,832	4,832	6,005
	--------	-------	--------	--------
	42,593	4,832	47,425	54,351
	--------	-------	--------	--------

12. Net gains/(losses) on investments

	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
Gains/(losses) on listed investments	1,589	1,063	2,652
	-------	-------	-------

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Gains/(losses) on listed investments	( 825)	( 981)	( 1,806)
	----	----	-------

13. Net income/(expenditure)

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

	2024	2023
	£	£
Depreciation of tangible fixed assets	47	55
Foreign exchange differences	199	201
	----	----

14. Independent examination fees

	2024	2023
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	3,300	3,300
	-------	-------

15. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2024	2023
	£	£
Wages and salaries	21,526	18,481
Social security costs	1,710	1,295
Employer contributions to pension plans	458	367
	--------	--------
	23,694	20,143
	--------	--------

The average head count of employees during the year was 1 (2023: 1 ). The average number of full-time equivalent employees during the year is analysed as follows:

	2024	2023
	No.	No.
Number of staff - administration	1	1
	----	----

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

16. Trustee remuneration and expenses

No remuneration was paid to any trustee during the year (2023: nil).

One trustee was reimbursed £79 for expenses incurred on Clan Gathering events (2023: £154 for Clan Gathering expenses and stationery).

17. Tangible fixed assets

	Investment property	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
Cost
At 1 January 2024	475,000	1,419	783	477,202
Additions	364,735	–	–	364,735
	---------	-------	----	---------
At 31 December 2024	839,735	1,419	783	841,937
	---------	-------	----	---------
Depreciation
At 1 January 2024	–	1,105	783	1,888
Charge for the year	–	47	–	47
	---------	-------	----	---------
At 31 December 2024	–	1,152	783	1,935
	---------	-------	----	---------
Carrying amount
At 31 December 2024	839,735	267	–	840,002
	---------	-------	----	---------
At 31 December 2023	475,000	314	–	475,314
	---------	-------	----	---------

Tangible fixed assets held at valuation

The investment property is comprised of the land and buildings of the Clan Centre, situated at Bruar, and the land and buildings of Struan Kirk. The Bruar property was valued on 23 January 2019 by Graham & Sibbald, Chartered Surveyors. The trustees are of the opinion that the property value at the year end is not significantly different from that valuation. Struan Kirk has been included in the accounts at the valuation used for insurance purposes, plus legal fees on acquisition. A professional valuation has not yet been carried out.

In respect of tangible fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment property
	£
At 31 December 2024
Aggregate cost	584,735
Aggregate depreciation	–
	---------
Carrying value	584,735
	---------

At 31 December 2023
Aggregate cost	220,000
Aggregate depreciation	–
	---------
Carrying value	220,000
	---------

18. Investments

	Listed investments
	£
Cost or valuation
At 1 January 2024	152,363
Additions	–
Fair value movements	2,653
	---------
At 31 December 2024	155,016
	---------
Impairment
At 1 January 2024 and 31 December 2024
Carrying amount
At 31 December 2024	155,016
	---------
At 31 December 2023	152,363
	---------

All investments shown above are held at valuation.

Financial assets held at fair value

Listed investments are valued at closing prices achieved on the respective stock exchange on the last day of the charity's accounting period.

19. Stocks

	2024	2023
	£	£
Goods for resale	2,747	3,127
	-------	-------

20. Debtors

	2024	2023
	£	£
Trade debtors	103	51
Prepayments and accrued income	1,008	1,006
Other debtors	7,507	6,374
	-------	-------
	8,618	7,431
	-------	-------

21. Creditors: amounts falling due within one year

	2024	2023
	£	£
Accruals and deferred income	4,431	4,968
Social security and other taxes	199	174
Subscriptions in advance	9,597	10,079
Other creditors	84	80
	--------	--------
	14,311	15,301
	--------	--------

22. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 458 (2023: £ 367 ).

23. Analysis of charitable funds

Unrestricted funds

	At 1 January 2024	Income	Expenditure	Gains and losses	At 31 December 2024
	£	£	£	£	£
General funds	387,725	43,876	(48,484)	1,589	384,706
Revaluation reserve	255,000	–	–	–	255,000
Struan Kirk land and buildings	–	364,282	–	–	364,282
	---------	---------	--------	-------	------------
	642,725	408,158	(48,484)	1,589	1,003,988
	---------	---------	--------	-------	------------

	At 1 January 2023	Income	Expenditure	Gains and losses	At 31 December 2023
	£	£	£	£	£
General funds	392,315	50,328	(54,093)	(825)	387,725
Revaluation reserve	255,000	–	–	–	255,000
Struan Kirk land and buildings	–	–	–	–	–
	---------	--------	--------	----	---------
	647,315	50,328	(54,093)	(825)	642,725
	---------	--------	--------	----	---------

Restricted funds

	At 1 January 2024	Income	Expenditure	Gains and losses	At 31 December 2024
	£	£	£	£	£
Genealogy	3,225	–	–	–	3,225
Educational	55,681	3,098	–	1,063	59,842
Struan Kirk	10,691	5,491	(1,846)	–	14,336
Piper statue fund	5,000	–	–	–	5,000
	--------	-------	-------	-------	--------
	74,597	8,589	(1,846)	1,063	82,403
	--------	-------	-------	-------	--------

	At 1 January 2023	Income	Expenditure	Gains and losses	At 31 December 2023
	£	£	£	£	£
Genealogy	3,225	–	–	–	3,225
Educational	54,232	2,430	–	(981)	55,681
Struan Kirk	12,663	868	(2,840)	–	10,691
Piper statue fund	5,000	–	–	–	5,000
	--------	-------	-------	----	--------
	75,120	3,298	(2,840)	(981)	74,597
	--------	-------	-------	----	--------

The Genealogy Fund is maintained to fund the costs of research into the genealogy of the Clan.

The Educational Fund has been formed from the assets of the Clan Donnachaidh Educational Trust, which amalgamated with the Society towards the end of 2016. This fund will be applied in line with the objectives of that former Trust.

Formerly, Struan Kirk Fund represented the donations received for supporting the purchase of this property by the Struan Kirk Trust from the Church of Scotland and towards costs of renovation and maintenance of Struan Kirk, less the amounts regularly passed on to the Trust. Upon dissolution of the Struan Kirk Trust late in 2024, its moveable assets were transferred to the Society and are now included in this fund. Any donations made for the purpose of supporting Struan Kirk will, as previously, be be allocated to this fund. Expenses of running the Kirk are now met directly by the Society and will be charged to this fund up to the available balance.

24. Analysis of net assets between funds

	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
Tangible fixed assets	840,002	–	840,002
Investments	113,177	41,839	155,016
Current assets	65,120	40,564	105,684
Creditors less than 1 year	(14,311)	–	(14,311)
	------------	--------	------------
Net assets	1,003,988	82,403	1,086,391
	------------	--------	------------

	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Tangible fixed assets	475,314	–	475,314
Investments	111,587	40,776	152,363
Current assets	71,125	33,821	104,946
Creditors less than 1 year	(15,301)	–	(15,301)
	---------	--------	---------
Net assets	642,725	74,597	717,322
	---------	--------	---------

25. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2024	2023
	£	£

Financial assets measured at fair value through income and expenditure

Financial assets measured at fair value through income and expenditure	155,016	152,363
	---------	---------

26. Struan kirk trust

The Struan Kirk Trust, a Scottish registered company (SC593856) limited by guarantee, was formed to own and manage Struan Kirk. The Trust was dissolved on 17 December 2024 after transferring its assets to the Clan Donnachaidh Society . The Society has taken over the role of the Trust in raising funds and maintaining Struan Kirk for the ongoing benefit of the Clan. The Trust's Articles of Association permitted the Society to nominate one trustee/member. The Articles also required the unanimous agreement of all members, including the Society's nominee, in the case of disposal or mortgage of any heritable property, or of a winding up of the Trust. Mr John Duncan, Chairman, continued as the Society's nominee to the Struan Kirk Trust until its dissolution. Mr A G H Robertson, Chief, continued to serve as trustee of both the Society and Struan Kirk Trust.

27. Related parties

There were no transactions with related parties other than those detailed in note 26, Struan Kirk Trust, and note 16, Trustee remuneration and expenses.