REGISTERED COMPANY NUMBER: SC352814 (Scotland)

REGISTERED CHARITY NUMBER: SC041149

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2024

for

CAMUSCROSS & DUISDALE INITIATIVE

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

18

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 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To manage community land and associated assets for the benefit of the Community (as defined in the Memorandum of Association) and the public in general following principles of sustainable development, where sustainable development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.

To provide, or assist in providing, recreational facilities, and/or organising recreational activities, which will be available to members of the community and the public at large with the object of improving the conditions of life of the Community and following principles of sustainable development, where 'sustainable development' means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.

To advance community development, including urban or rural regeneration, following principles of sustainable development, where sustainable development' means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.

To advance the education of the Community about its environment, culture, heritage and/or 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.

To provide or assist in providing housing, particularly on rural land, especially affordable housing, for those who are in conditions of need.

Public benefit

The fulfilment of the charity's objectives provides benefit to the local community and wider public.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

2024 was again a challenging year for the charity and its trading subsidiary however the year ended on a more positive note with management costs significantly reduced due to volunteer input and trading in both the shop and café generally good with hall use increasing from 2023 levels. The general cost of living increases continue to affect both spending by customers in the shop and café as well as the operating costs for the building.

The use of the community hall and meeting room increased through 2024 and is now close to the pre-pandemic levels achieved in 2019.

The charity continued to work closely with its trading subsidiary, An Crubh Ltd, to ensure that the shop and Post Office serve both the local community and visitors alike. Staffing remains an issue however the shop continued to open seven days a week with the Post Office open six days - occasional closures were only as a result of adverse weather conditions or when trained staff were not available.

The café was open throughout 2024 however staffing continues to be a significant issue and opening hours were restricted to five days a week during the main visitor season and four days a week in the winter. Staffing is currently a problem throughout the UK hospitality industry but is particularly acute on Skye where a severe lack of affordable accommodation is an additional key factor.

The charity continued to support and encourage the separately constituted Camuscross & Duisdale Fundraising Committee which is run by local volunteers and pays up funds raised as donations to the charity. Fundraising activity increased considerably in 2024 with several very successful events being held. In addition, the locally organised monthly lottery, run by a member, continued to contribute income on a regular basis as did the book stall.

Due to a number of factors the solar PV project did not become operational in 2024 as had been anticipated but by the end of the year had reached a point where generation was expected to start in early 2025. Unfortunately this meant that the high cost of electricity remained a significant issue during 2024 but this is expected to reduce in 2025.

The five berth campervan hookup site at An Crùbh which opened in 2023 has proved very popular during 2024, even during the winter months when other nearby sites were closed. There has also been a noticeable reduction in campervans parking up overnight unofficially around the Camuscross and Duisdale area.

FINANCIAL REVIEW

Financial position

The charity and its trading subsidiary An Crubh Ltd found 2024 financially challenging for the reasons outlined above and although income through hall lettings and the work of the separate Fundraising Committee increased from 2023, staffing continues to be an issue and that resulted in restricted opening hours for the café. However, the shop has remained open seven days a week.

Having sought the advice of Impact Hub in the latter part of 2023 their projections and advice allowed the directors of An Crubh Ltd to plot a way through the financial position. Following the departure of the general manager at the end of 2023 and the decision to create a small management team of three volunteers and promoting key staff to between them take on the manager's responsibilities, directors could see a way to keep An Crùbh open, providing employment, services, activities and a vital facility for the community.

Principal funding sources

Funding for the solar PV project was provided by the Scottish Government's Community and Renewable Energy Scheme (CARES) together with the crowd funder with match funding from the Aviva Community Fund and additional funding from SSE Renewables.

Reserves policy

The trustees aim remains to build up a reserve to cover future maintenance and unexpected costs, where possible to an ideal position of three months running costs. As expected, surplus income in 2024 was expended on equipment and other costs, which meant the general fund deficit was £7,802, resulting in closing Unrestricted Funds of £3,704.

The financial situation continues to be closely monitored and expenditure closely managed. Practical steps have been taken to address the deficit. The trustees are committed to return to a positive position and to make it sustainable in the long-term.

At the year end the charity held net current asset balances for restricted funds, as follows:

- CARES and Crowdfunding - Solar PV and boiler repair project - £20,316

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Camuscross & Duisdale Initiative is controlled by its governing document, the Memorandum and Articles of Association.

Recruitment and appointment of new trustees

The company's directors are recruited from the community and appointed in accordance with Article 27 through to and including Article 37 of the Memorandum & Articles of Association.

Organisational structure

The structure of the company comprises:

Members - comprising Ordinary Members (who have the right to attend the AGM and any EGM and have important powers under these Articles and the Act, who elect people to serve as Directors and take decisions in relation to any change in these Articles), the Associates Members and the Junior Members.

Director - who hold regular meetings between each AGM, set the strategy and policy of the Company, generally control and supervise the activities of the Company and, in particular, are responsible for monitoring its financial position and, where there are no employees or managers appointed, are responsible also for the day-to-day management of the Company.

During the year, the charity paid for Trustee indemnity insurance to protect members from personal liability with respect to claims related to their actions in their roles as committee members or Trustees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The risk management policy which was developed to cover the construction phase is now under review.

The finance committee, comprising a number of directors and the company secretary, continued to provide an overview of finances and ensure the responsibility and knowledge about finances is shared with the board and amongst all trustees.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC352814 (Scotland)

Registered Charity number

SC041149

Registered office

An Crubh

Duisdale Beag

Isle of Skye

IV43 8QU

Trustees

Donald Fingal Mackinnon

Claire Wylie

Kathryn Lorna Pike (appointed 9.5.24)

Eilidh Fiona Robertson (appointed 28.8.25)

Norman Neil Nicolson Gillies (appointed 8.9.25)

Simon Whatmore (appointed 10.5.24) (resigned 31.8.25)

Mark Wringe

Innes Ewen Grant (resigned 31.12.24)

Company Secretary

Michael David Gibson Collins

Independent Examiner

A Cumming

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Camuscross & Duisdale Initiative for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 24 September 2025 and signed on its behalf by:

Michael David Gibson Collins - Secretary

I report on the accounts for the year ended 31 December 2024 set out on pages six to eighteen.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention :

(1)	which gives me reasonable cause to believe that, in any material respect, the requirements

-	to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

-	to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

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

A Cumming

The Institute of Chartered Accountants of Scotland

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

24 September 2025

31.12.24

31.12.23

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

11,205

-

11,205

15,115

Charitable activities

3

Community Hub

29,527

37,758

67,285

242,028

Total

40,732

37,758

78,490

257,143

EXPENDITURE ON

Charitable activities

Community Hub

47,238

2,193

49,431

109,408

Depreciation

1,296

32,147

33,443

25,040

Total

48,534

34,340

82,874

134,448

NET INCOME/(EXPENDITURE)

(7,802

)

3,418

(4,384

)

122,695

RECONCILIATION OF FUNDS

Total funds brought forward

11,506

2,053,573

2,065,079

1,942,384

TOTAL FUNDS CARRIED FORWARD

3,704

2,056,991

2,060,695

2,065,079

31.12.24

31.12.23

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

9

7,939

2,036,675

2,044,614

2,047,036

Investments

10

1

-

1

1

7,940

2,036,675

2,044,615

2,047,037

CURRENT ASSETS

Debtors

11

5,553

11,312

16,865

579

Cash at bank

13,922

9,004

22,926

23,517

19,475

20,316

39,791

24,096

CREDITORS

Amounts falling due within one year

12

(23,711

)

-

(23,711

)

(6,054

)

NET CURRENT ASSETS

(4,236

)

20,316

16,080

18,042

TOTAL ASSETS LESS CURRENT LIABILITIES

3,704

2,056,991

2,060,695

2,065,079

NET ASSETS

3,704

2,056,991

2,060,695

2,065,079

FUNDS

13

Unrestricted funds

3,704

11,506

Restricted funds

2,056,991

2,053,573

TOTAL FUNDS

2,060,695

2,065,079

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

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

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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 24 September 2025 and were signed on its behalf by:

Donald Fingal Mackinnon - Trustee

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.

The presentation currency of the accounts is Pound sterling (£).

The accounts are rounded to the nearest £1.

The financial statements have been prepared on a going concern basis. The significant accounting policies applied in the preparation of these financial statements are set out below.

Critical accounting judgements and key sources of estimation uncertainty

Fixed asset net book value and depreciation charges are the areas of the accounts which are affected by significant judgements and estimates. The trustees exercise judgement in determining both the useful economic life and the likely residual value of the charity's assets. This judgement affects the rates of and charge for depreciation in the accounts for the year. It also therefore affects the net book value of the assets in the balance sheet.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Tangible assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Land and buildings

- see below

Reservoir

- 2% on cost

Fixtures and fittings

- 15% on cost

The trustees estimated that the residual value of the Community Hub in 50 years will be £800,000 and the depreciation charge is therefore calculated on this basis. The residual value estimation will be considered by the trustees every five years and the depreciation charge varied at that point, if appropriate.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. Tangible assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Irrecoverable VAT

The charity is VAT registered and performs a partial exemption calculation each month. Irrecoverable VAT is shown on the Statement of Financial Activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account

2.	DONATIONS AND LEGACIES

31.12.24

31.12.23

£

£

Donations

10,405

8,193

Gift aid

800

6,922

11,205

15,115

3.	INCOME FROM CHARITABLE ACTIVITIES

31.12.24

31.12.23

Activity

£

£

Grants

Community Hub

37,758

183,217

An Crubh hall hire

Community Hub

8,716

9,701

CDI Lottery

Community Hub

494

697

Rent income

Community Hub

-

4,835

Other income

Community Hub

1,646

-

Post Office sales

Community Hub

18,671

17,446

Crowdfunding income

Community Hub

-

26,132

67,285

242,028

Grants received, included in the above, are as follows:

31.12.24

31.12.23

£

£

Development Trusts Association Scotland

-

5,919

National Lottery

-

35,823

Rural Tourism Infrastructure Fund

-

141,475

Community and Renewables Energy Scheme (CARES)

24,209

-

SSE Renewables Community Benefit Fund

13,549

-

37,758

183,217

4.	GRANTS PAYABLE

31.12.24

31.12.23

£

£

Community Hub

11,326

22,474

The total grants paid to institutions during the year was as follows:

31.12.24

31.12.23

£

£

An Crubh - revenue funding

11,326

22,474

5.	NET INCOME/(EXPENDITURE)

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

31.12.24

31.12.23

£

£

Auditors' remuneration

-

3,500

Depreciation - owned assets

33,443

25,041

6.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

7.	STAFF COSTS

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

31.12.24

31.12.23

All staff

-

2

No employees received emoluments in excess of £60,000.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

15,117

(2

)

15,115

Charitable activities

Community Hub

32,679

209,349

242,028

Total

47,796

209,347

257,143

EXPENDITURE ON

Charitable activities

Community Hub

50,915

58,493

109,408

Depreciation

946

24,094

25,040

Total

51,861

82,587

134,448

NET INCOME/(EXPENDITURE)

(4,065

)

126,760

122,695

Transfers between funds

7,046

(7,046

)

-

Net movement in funds

2,981

119,714

122,695

RECONCILIATION OF FUNDS

Total funds brought forward

8,525

1,933,859

1,942,384

TOTAL FUNDS CARRIED FORWARD

11,506

2,053,573

2,065,079

9.	TANGIBLE FIXED ASSETS

Community

Campervan

Hub

Reservoir

Park

£

£

£

COST

At 1 January 2024

2,048,364

23,779

134,428

Additions

-

-

-

At 31 December 2024

2,048,364

23,779

134,428

DEPRECIATION

At 1 January 2024

170,447

20,011

-

Charge for year

23,954

476

6,721

At 31 December 2024

194,401

20,487

6,721

NET BOOK VALUE

At 31 December 2024

1,853,963

3,292

127,707

At 31 December 2023

1,877,917

3,768

134,428

Fixtures

and

Play park

fittings

Totals

£

£

£

COST

At 1 January 2024

23,472

14,336

2,244,379

Additions

-

31,021

31,021

At 31 December 2024

23,472

45,357

2,275,400

DEPRECIATION

At 1 January 2024

-

6,885

197,343

Charge for year

1,174

1,118

33,443

At 31 December 2024

1,174

8,003

230,786

NET BOOK VALUE

At 31 December 2024

22,298

37,354

2,044,614

At 31 December 2023

23,472

7,451

2,047,036

Big Lottery Fund has a fixed charge security over all and whole subjects known as and forming ground at Tigh na Drochaid, Duisdale Beag, Isle Ornsay, Isle of Skye extending to approximately 1.68 hectares.

10.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 January 2024 and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

An Crùbh Limited

Registered office: An Crubh, Duisdale Beag, Sleat, Isle Of Skye, United Kingdom, IV43 8QU

Nature of business: Community shop and cafe

%

Class of share:

holding

Ordinary

100

31.12.24

31.12.23

£

£

Aggregate capital and reserves

(46,521

)

(40,644

)

(Loss)/profit for the year

(5,877

)

7,305

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,860

292

Other debtors

11,312

-

VAT

3,693

287

16,865

579

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

22,411

593

Social security and other taxes

-

673

Pension Control

-

288

Accrued expenses

1,300

4,500

23,711

6,054

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

7,738

(7,326

)

412

Designated Reservoir Fixed Asset Fund

3,768

(476

)

3,292

11,506

(7,802

)

3,704

Restricted funds

Restricted Capital Fund

2,036,613

(31,968

)

2,004,645

Restricted General Fund

16,960

35,386

52,346

2,053,573

3,418

2,056,991

TOTAL FUNDS

2,065,079

(4,384

)

2,060,695

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

40,732

(48,058

)

(7,326

)

Designated Reservoir Fixed Asset Fund

-

(476

)

(476

)

40,732

(48,534

)

(7,802

)

Restricted funds

Restricted Capital Fund

-

(31,968

)

(31,968

)

Restricted General Fund

37,758

(2,372

)

35,386

37,758

(34,340

)

3,418

TOTAL FUNDS

78,490

(82,874

)

(4,384

)