Leanchoil Trust - Charities report

REGISTERED COMPANY NUMBER: SC654087 (Scotland)

REGISTERED CHARITY NUMBER: SC50975

Report of the Trustees and

Unaudited Financial Statements For The Year Ended 28 February 2025

for

Leanchoil Trust

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

12

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 28 February 2025. 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

The charity's objects are to benefit the people living in the greater Forres area:

To advance health and well-being through activities including mental health support, support for young people, veterans' activities, intergenerational activities, online health consultations, digital health, secondary care, complementary therapies and supported housing.

To advance community development by acquiring, refurbishing, and sustainably maintaining the Leanchoil Hospital, grounds, and woodland as an asset for the community.

To advance citizenship through the promotion of volunteering and working in partnership with the voluntary and public sectors in the delivery of health and well-being services.

To advance the heritage of Leanchoil Hospital, by promoting its historic significance and educating the public about its heritage through interpretation and community engagement.

But only to the extent that the above purposes are consistent with furthering the achievement of sustainable development.

ACHIEVEMENT AND PERFORMANCE

The Leanchoil Trust (LT) plan is progressing well to achieve purchase and refurbishment of the former Leanchoil hospital and its site, supported by the Scottish Land Fund and the National Lottery Heritage Fund.

The CAT (Community Asset Transfer) date for LT to take ownership from NHS Grampian is likely to be later in 2025. Exhaustive discussions about site boundaries have been successfully completed. Hanover Scotland, our main partner, continue their plans to demolish and rebuild the former maternity wing development with Robertson Construction and LDN architects.

The floor plans for the interior of the main building have been discussed and almost finalised with architects LDN. The Heritage Impact Statement and Conservation Plan are also in progress. Work is now ongoing to cost each space so that a figure can be determined with regards to rentability to support the sustainability of the Leanchoil Centre. Important surveys - such as on the possible bat population - are planned to facilitate the full planning application to Moray Council following their positive response to Preplanning issued in November 2024. This activity is supported by the Architectural Heritage Fund.

Funding was generously donated by the Berryburn Community Fund to complete a feasibility study for future development of the former Nurses' Home. This will again give us vital information on income potential to sustain Leanchoil and obviate the need for constant grant applications as we move forward.

There remains enthusiasm from our Community membership and we share their impatience to take ownership and have refurbishment commenced. We remain focused, optimistic and excited about the deliverability of the Leanchoil project.

FINANCIAL REVIEW

The level of unrestricted funds held at the year end was £2,050, the level of restricted funds held at the year end was £86,202 giving total funds of £88,252.

Once the development is complete it will become the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month's expenditure. The trustees 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 charity's current activities while consideration is given to ways in which additional funds may be raised.

The trustees 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.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC654087 (Scotland)

Registered Charity number

SC50975

Registered office

121 High Street

Forres

Moray

IV36 1AB

Trustees

Mr A J M Anderson

Mr M J Barron

Dr J E Hutt

Major General SH R H Monro

Mr G D Murdoch

Professor M C Nicolson

Mr J Campbell

Mr A W James

Mr R D Luck (appointed 2.4.24)

Company Secretary

Mr M J Barron

Independent Examiner

Alan E Long FCA

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

Approved by order of the board of trustees on 1 September 2025 and signed on its behalf by:

Professor M C Nicolson - Trustee

I report on the accounts for the year ended 28 February 2025 set out on pages five to twelve.

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.

Alan E Long FCA

The Institute of Chartered Accountants in England and Wales

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

1 September 2025

28.2.25

29.2.24

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,500

130,134

131,634

78,890

EXPENDITURE ON

Charitable activities

Leanchoil Trust

100

102,965

103,065

91,839

NET INCOME/(EXPENDITURE)

1,400

27,169

28,569

(12,949

)

RECONCILIATION OF FUNDS

Total funds brought forward

650

59,033

59,683

72,632

TOTAL FUNDS CARRIED FORWARD

2,050

86,202

88,252

59,683

28.2.25

29.2.24

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

5

-

128

-

CURRENT ASSETS

Debtors

6

-

40,737

825

Cash at bank

2,050

51,501

53,551

59,783

2,050

92,238

94,288

60,608

CREDITORS

Amounts falling due within one year

7

-

(6,164

)

(6,164

)

(925

)

NET CURRENT ASSETS

2,050

86,074

88,124

59,683

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,050

86,202

88,252

59,683

NET ASSETS

2,050

86,202

88,252

59,683

FUNDS

8

Unrestricted funds

2,050

650

Restricted funds

86,202

59,033

TOTAL FUNDS

88,252

59,683

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 1 September 2025 and were signed on its behalf by:

Professor M C Nicolson - 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.

Income

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

Expenditure

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Taxation

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

Fund accounting

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

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

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

2.	NET INCOME/(EXPENDITURE)

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

28.2.25

29.2.24

£

Depreciation - owned assets

42

-

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 28 February 2025 nor for the year ended 29 February 2024.

Trustees' expenses

During the year the charity reimbursed expenses totalling £682 (2024 - £615) to trustees.

4.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

650

78,240

78,890

EXPENDITURE ON

Charitable activities

Leanchoil Trust

-

91,839

NET INCOME/(EXPENDITURE)

650

(13,599

)

(12,949

)

RECONCILIATION OF FUNDS

Total funds brought forward

-

72,632

TOTAL FUNDS CARRIED FORWARD

650

59,033

59,683

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

170

DEPRECIATION

Charge for year

42

NET BOOK VALUE

At 28 February 2025

128

At 29 February 2024

-

6.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade debtors

39,960

-

Prepayments

777

825

40,737

825

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade creditors

5,209

-

Accrued expenses

955

925

6,164

925

8.	MOVEMENT IN FUNDS

Net

movement

At

At 1.3.24

in funds

28.2.25

£

Unrestricted funds

General fund

650

1,400

2,050

Restricted funds

Leanchoil Development Fund

35,333

22,869

58,202

Veterans' Support Fund

23,700

4,300

28,000

59,033

27,169

86,202

TOTAL FUNDS

59,683

28,569

88,252

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

1,500

(100

)

1,400

Restricted funds

Leanchoil Development Fund

125,834

(102,965

)

22,869

Veterans' Support Fund

4,300

-

4,300

130,134

(102,965

)

27,169

TOTAL FUNDS

131,634

(103,065

)

28,569

Comparatives for movement in funds

Net

movement

At

At 1.3.23

in funds

29.2.24

£

Unrestricted funds

General fund

-

650

Restricted funds

Leanchoil Development Fund

29,840

5,493

35,333

Veterans' Support Fund

19,050

4,650

23,700

HIE Funded Posts

23,742

(23,742

)

-

72,632

(13,599

)

59,033

TOTAL FUNDS

72,632

(12,949

)

59,683

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

650

-

650

Restricted funds

Leanchoil Development Fund

73,590

(68,097

)

5,493

Veterans' Support Fund

4,650

-

4,650

HIE Funded Posts

-

(23,742

)

(23,742

)

78,240

(91,839

)

(13,599

)

TOTAL FUNDS

78,890

(91,839

)

(12,949

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.3.23

in funds

28.2.25

£

Unrestricted funds

General fund

-

2,050

Restricted funds

Leanchoil Development Fund

29,840

28,362

58,202

Veterans' Support Fund

19,050

8,950

28,000

HIE Funded Posts

23,742

(23,742

)

-

72,632

13,570

86,202

TOTAL FUNDS

72,632

15,620

88,252

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

2,150

(100

)

2,050

Restricted funds

Leanchoil Development Fund

199,424

(171,062

)

28,362

Veterans' Support Fund

8,950

-

8,950

HIE Funded Posts

-

(23,742

)

(23,742

)

208,374

(194,804

)

13,570

TOTAL FUNDS

210,524

(194,904

)

15,620

9.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 28 February 2025.