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Registered number: SC173308
Charity number: SC027481
(A company limited by guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
CONTENTS
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees, who are also directors for the purposes of company law, are pleased to present their annual directors’ report which are also prepared to meet the requirements for a directors’ report and accounts for the Companies Act purposes.
The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, 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).
Since the charitable company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The company's charitable purpose is to promote, advance, manage and effect for the benefit of the public as a whole, the provision, development and improvement of the facilities of the countryside and of the natural resources of Perth and Kinross and to seek the preservation and conservation of the rural heritage of Perth and Kinross, its landscape, wildlife, history and culture, for the benefit, education and training of the community as a whole. The charitable purposes were amended in July 2022 to include ‘’ to conserve and enhance biodiversity and to assist in mitigating or adapting to the effects of climate change.’’
Our main activities are negotiating access to land, building footpaths and cyclepaths , and undertaking conservation projects on the designed landscapes in the area. In addition, the company undertakes education , awareness raising and publicity activities to promote and encourage access to the countryside for walkers, wheelchair users, cyclists and horse riders. This work is predominantly delivered in partnership with other organisations and community groups. The main activities undertaken in 2024/25 fell primarily within its flagship projects: Perthshire Big Tree Country, the Cateran Trail, the River Tay Way, Perthshire Nature Connections Partnership, and Developing Community Path Networks. In addition we delivered a range of Education and Outreach activities. These activities are described in more detail below. We continue to have positive relationships with our major funders and long-term partners: The Gannochy Trust , PKC, and Sustrans. We are in the final year of three years’ core funding from the Gannochy Trust (£140,500) and the final year of three years funding from The Forteviot Trust to support our education work (£10,000). During the year we were also successful in securing multi year core funding from the Garfield Weston Foundation (£10,000 per annum for 2 years until December 2025). During the year, an application was made to the Gannochy Trust for multi year Core funding from April 2025 -2028. This application was successful and a fresh grant period will start in April 2025. The company’s strategy for delivering its purpose is set out in the company’s Strategic Plan. The Strategic Plan covers a period of three financial years and in the final year of each Strategic Plan, the subsequent plan is developed. This report covers the first year of the current 4 year plan which covers the period April 2024-28. This plan includes a new specific focus on Conservation and Education initiatives.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Objectives and activities (continued)
For each financial year an Annual Operating Plan is agreed by the directors, setting out the practical work the company’s staff will undertake in order to meet the objectives of the Strategic Plan and deliver the company’s charitable purpose. A summary of the main points of the Strategic Plan 2024 - 28 and the Annual Operating Plan for 2024/25 are included with these accounts.
Achievements and performance
a. Main achievements of the company
The Trust’s key achievements and performance are assessed against the objectives and measures of success outlined in the Strategic Plan 2024 - 28. We are grateful to our core funders, the Gannochy Trust , Forteviot Trust ,Garfield Weston Foundation and Perth and Kinross Council. Their support helps to cover much of the cost of the management and administration of the Trust. Where possible, the Trust seeks to recover the remaining costs through Full Cost Recovery set against the different activities and projects undertaken.
b. Strategic objective 1
We will establish the River Tay Way by creating a long-distance walking and cycling route from Kenmore to Perth following the course of the River Tay.
River Tay Way The River Tay Way is a new long-distance walking and cycling route we are developing between Perth and Kenmore following the mighty River Tay. It connects Perth, Luncarty, Stanley, Dunkeld and Birnam, Aberfeldy and Kenmore through a ‘daisy chain’ of sustainable community links that enables low-carbon active travel and adds to the tourism offer in the area. This is one of the Trust’s major long-term projects. Stanley to Luncarty Upgrade We received a further £17,000 from Sustrans to continue the design, feasibility and associated community consultation for an active travel route between Stanley and Luncarty. Negotiations with landowners on the preferred route continues. The concept design of the preferred route was completed in 2024 and detailed and technical design will progress in 2025 depending on further funding from Sustrans / Transport Scotland. Dalerb to Kenmore Working with FLS we designed a path linking the site of the new Crannog back towards Kenmore. Planning consent was granted in summer 2024. This pre construction phase was funded by Forestry and Land Scotland. We are now seeking funding for construction. Jeanfield Swifts Funding from Paths for All , Perth and Kinross Council and Cycling Scotland allowed the construction of a Riverside Active Tavel link near to the home of Jeanfield Swifts football club.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Achievements and performance (continued)
c. Strategic objective 2
We will continue to manage Perthshire Big Tree Country to protect the historic landscapes and improve the environment for all.
Perthshire Big Tree Country (PBTC) We continue to have positive working relationships with our supporter hotels Gleneagles, Crieff Hydro and Dunkeld House Hotel and Fonab Castle Hotel . PKCT are continuing to upgrade the Dunkeld House Tree Trail interpretation in 2025, and supporting the paths group in Pitlochry local to Fonab Castle. The Walking in Perthshire Big Tree Country brochures were reprinted and distributed through local and national visitor information centres.
d. Strategic objective 3
We will continue to manage the Cateran Trail and also undertake strategic path upgrades across Perth and Kinross to create links between established path networks and address key gaps in countryside access across Perth and Kinross.
Cateran Trail One of Scotland’s Great Trails, the Cateran Trail is a fully waymarked, 64-mile / 103 km route through Perthshire and the Angus glens in the heart of Scotland. It is a circular route divided into five stages that can be comfortably walked in five days. With no official beginning or end, it can be joined at any stage. The Cateran Trail has been named one of the top 10 bikepacking routes in Scotland. Supporting the Cateran Trail We continued to promote the Supporting the Cateran Trail scheme for the many small accommodation providers and businesses along the route to donate to the Trail’s upkeep. We also promote the Love the Cateran Trail appeal on our website. Access improvements Kirkmichael’s paths have received generous funding from the Lascelles Charitable Trust for a path audit and improvements were carried out in 2024. Over £3,000 was received from the Kirriemuir landward west community grant scheme which together with £3,450 from Cairngorm National Park Authority allowed further path improvements across the Cateran Trail. Cateran Yomp The Cateran Yomp, took place in June 2024, raising over £250,000 for ABF The Soldiers’ Charity. PKCT received a donation of £7,500 from ABF to assist with route maintenance for the event. The 2025 Yomp is scheduled for June 2025.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Achievements and performance (continued)
Hugh Fraser Foundation
We have been successful in securing support for maintenance of the trail for a further three years through to 2027 at £5,000 per annum. Developing Community Path Networks Our vision is for people to be regularly spending time outdoors enhancing their wellbeing, connecting with nature, and caring for the countryside. Walking and cycling in green spaces is beneficial for both mental and physical health and is an effective way to enhance quality of life. Research shows that most people prefer to use established and well-marked paths to access the countryside. While Perth & Kinross Council (PKC) and PKCT have worked hard over the years to ensure there are many excellent paths in Perth and Kinross, there are still gaps in the network that could be addressed to significantly improve it. Bridge of Earn to Newburgh Active Travel Route PKCT has secured a further £97,000 from Sustrans for community consultation and design of active travel infrastructure improvements between Bridge of Earn and Newburgh. This project has been a long-held ambition of the local community and PKCT for over 10 years. The project has been broken into smaller phases to assist with fundraising in the future. Construction of the first phase at the western end of the route completed in the Spring of 2023. In Spring 2024 Phase 1b at the M90 slip roads was completed at a cost of £275,000. These sections of construction are funded by Sustrans, supplemented by PKC CWSS funding. Planning permission was received for Phase 1 C (the Baiglie Straight). Design work and community consultation on Phase 2a and 2b from Aberargie through to Newburgh will continue to secure an agreed route. Comrie to Bairds Monument Crieff Active Travel Route £79,000 was secured from PKC via Sustrans to develop an Active Travel route from Comrie to Bairds Monument in Crieff. The project is still at the design stage and funding in 2025 from either Sustrans or the Transport Scotland Active Travel Infrastructure Fund will allow the continuation of the project in 2025 and beyond. Gannochy Trust Estate We are working with The Gannochy Trust to extend the path network across their estate. The first path extending from Perth up towards Kinnoull Hill commenced in February 2025 and will be completed in April. A second path will be developed May 2025 onwards. Glenturret The Glenturret Distillery now collects donations for PKCT every time a tour ticket is sold, These donations will be added to donations from Crieff Hydro with the aim being to improve the path network and interpretation adjacent to both landholdings.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Achievements and performance (continued)
e. Strategic objective 4
We will undertake specific education projects to increase knowledge and experience of the countryside to improve understanding, enjoyment, appreciation of, and care for nature and the environment. An education project linking our activities to Health and Wellbeing will be a priority for the plan period.
Discovery, Learning And Engagement PKCT is committed to providing education and engagement projects, programmes and events that enhance people is understanding and appreciation of the countryside. Biodiversity loss, climate change, and wellbeing are key focus points for our education work, and we create opportunities to help communities learn about and take direct action for nature and the environment. Our education work has been possible thanks to funding from The Gannochy Trust and The Forteviot Trust. A Tree For Every Child In Perthshire (TEC) The third year of A Tree For Every Child has been a success and will be completed by April 2025. This project educates children about the importance of trees and provides the opportunity to take part in tree planting as a conservation action. 222 children from five schools received three educational workshops from PKCT, including tree planting. In addition, two public tree planting events, and three additional school/community group plantings were organised. Over 1,700 trees have been planted this year! The project was funded by PKCT, with tree donations from PKC, The Woodland Trust and TCV. Perth Wildlife Watch Perth Wildlife Watch continues to go from strength to strength with 15-20 children regularly booked onto the sessions. Highlights of the last year include a successful summer trip to the Highland Wildlife Park and building bird boxes. Youth Council PKCT successfully launched its Youth Council in 2024 and they continue to work with us to help ensure young people’s views are expressed throughout our work. Recruitment continues and the group is planning its own project for 2025. Wild Journey Thanks to funding from the Gannochy Trust’s Youth Panel Fund, the Wild Journey programme was developed and launched in June 2024 and has been successfully trialled with youth groups. Thanks to increased core funding this will be continued as the delivery method for PKCT’s outdoor learning work with schools and groups in the summer term. Wild Moments A successful series of Wild Moments events was organised with Jo Foo, thanks to funding from The Basil Death Trust and PKCT. We are excited to continue to plan these photo wellbeing events for a wider audience thanks to increased core funding.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Achievements and performance (continued)
Volunteering
PKCT has provided practical conservation volunteering experience to Glenalmond College through partnership working with PKC. Further opportunities were also delivered, including corporate volunteer days for SSE staff. Wildlife Watch and Youth Council provide additional ways for volunteers to be involved, and an Education Volunteer was recruited, providing helpful extra capacity. Events, Training and Outdoor Learning A significant programme of outdoor learning sessions and events have been delivered by the DLE Officer in 2024 - 2025. These included outdoor learning support to schools; guided nature walks at Glenturret Distillery; a Family Map Workshop for Innerpeffray Library; PKC’s Youth Climate Conference; camping residential support for PKAVS Young Carers; and other external events. Summary PKCT has had 1,349 interactions with children and 708 interactions with adults across its education work between March 2024 - Feb 2025. We look forward to continuing to provide quality experiences this year.
f. Strategic objective 5
We will develop projects, working in partnership with others as appropriate, incorporating responsible approaches to climate change mitigation and adaptation and biodiversity conservation, including ecological conservation to highlight how the state of our countryside contributes to and is hugely influenced by these global challenges.
Perthshire Nature Connections Partnership (PNCP) PNCP has continued to meet during 2024-25, including two large face-to-face events, one in May 2024 in Perth and one in March 2025 in Birnam, and one on-line event in January 2025. These ‘Gatherings’ proved extremely popular (around 70 delegates at each venue and 40 at the online one), and have significantly built relationships between PKCT and the region’s community of nature-actors. The events provided positive feedback to PKCT on the high value placed on the networking service provided by PNCP. Alongside these events PNCP has released 6 newsletters/circulars to a contacts list of over 100 partners. During April 2025, PNCP will undergo a name change and rebranding to Nature Connections Partnership – Perth & Kinross (NCP-P&K), to reflect the wider interest that has grown throughout the region in the partnership. Since December 2024 PNCP has become a partner within the formative Climate Connect P&K. which is a light touch organisation using Scot Gov funding to support a range of community networks across many themes which address the climate and nature emergencies. PNCP was asked to be the ‘nature-network’ partner, alongside other partners for energy, waste, community transport, food and climate cafes. CCP&K provided funding support to PNCP March 25 Gathering, and to phase 1 of a video project to profile nature projects in P&K. It is highly likely that our relationship with CCP&K will see further funded ‘network-development’ projects for PNCP from April 2025.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Achievements and performance (continued)
Breadalbane Species-Rich-Grassland (SRG)
The highlight of 2024-5 was supporting the re-establishment of the annual meadow cut at Weem Meadow SSSI at Aberfeldy. We now plan to hold a National Meadows Day event at Weem Meadow again in July 2025. Another significant step was the conclusion of the botanical survey on three participating farms. Although we struggle to make real inroads to the agricultural issues around SRG, our area is a nationally significant region for SRG, with significant interest from eNGOs, communities and NatureScot. Although there is continued loss of SRG to habitat change and woodland development, recent contacts made at the March 2025 Gathering may provide new opportunities to attract resources to the issue. Riverwoods - Investment Readiness Pioneers (IRP) This project concluded in July 2024 and a report was published online and was presented to the Nature Finance Community. There was no offer of investment arising from the project, and the learning concluded that there was not a ready market to invest in the particular nature ambitions of the participating estates, and that developing collaborative nature proposals (especially where they are unsuccessful in attracting delivery funds) is itself a hefty investment which was only possible through a significant charitable grant (Esme Fairbairn Foundation). The market for Biodiversity Credits in Scotland remains unclear, but we continue to liaise with others in the region (Bioregioning Tayside) and in Scotland (SG’s developing Ecosystem Restoration Code) over development of nature-finance. Nature Networks Since mid 2024 we have partnered with P&K Council to deliver work on their NatureNetworks (NN) duty, within their actions to revise their Local Development Plan (LDP). Action on this has really only picked up since January 2025, and three public events will be run late March-early April 2025, with a further phase of events in the next six months. Guardians of our Rivers A project is underway to provide basic training in monitoring river health, through volunteers identifying invertebrates from river samples. Buglife, Scotland’s invertebrate charity, delivered an introductory public presentation with PKCT in February at Auchterarder, and a training day on the tributaries of the River Earn is planned for late Spring 2025. This project is funded by Gleneagles. UK Shared Prosperity Funded Projects Biodiversity in Industrial Estates and Commercial Properties A small amount of support was provided to the above project, being run by Tayside Biodiversity Partnership. Biodiversity in Villages Support was also provided to various strands of the Biodiversity in Villages Project with UKSPF supplemented by donations for Gleneagles. The latter were used to support the Hedgehog Highway mini project with Auchterarder being used as a pilot/exemplar town for this initiative.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Achievements and performance (continued)
Financial review
a. Reserves policy
At present free unrestricted funds amount to a surplus of £225,340 2024 – surplus of £207,145). Included within the unrestricted funds is the defined pension asset of £NIL, as the defined benefit asset was not recognised (2024 - £NIL). PKC are guarantors of the pension liability therefore excluding this the unrestricted funds are a surplus of £225,340 (2024 - £207,145 surplus) which is sufficient to cover the reserves policy.
b. Going concern
In the year ended 31 March 2025 the charitable company carried out various projects. The net movement in funds, which represents incoming resources less resources expenses before any adjustment for pension gains or losses and , showed a deficit of £94,023 (2024 - surplus of £145,012). 2025 deficit includes pension loss totalling £19,000. The overall deficit is made up of a deficit in unrestricted funds of £805 and a deficit in restricted funds of £93,218.
The total retained unrestricted funds amount to a surplus of £225,340 (2024 – surplus of £207,145) at 31 March 2025. The restricted funds which are available for the support of specific projects had a closing total fund of £110,778 surplus (2024 - £203,996). The risk of going concern of the charitable company due to the defined pension liability is mitigated by Perth and Kinross Council acting as guarantor over the pension liability. On this basis the accounts have been prepared on a going concern basis. While the charitable company is fortunate in the support given by its various funders, the Board are aware of the risk in future years of an anticipated diminishing income stream from traditional and previous sources and have successfully widen the pool of funders to enable it to continue support for projects at a similar level and quality as in the past. The board will continue to keep this under review.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Structure, governance and management
a. Constitution
Perth and Kinross Countryside Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. These were amended in July 2022 to include the additional charitable purpose ‘’where possible, when implementing any of the foregoing Charitable Purposes, to conserve and enhance biodiversity and to assist in mitigating or adapting to the effects of climate change.’’
The charity operates under the rules of its Memorandum and Articles of Association.
b. Organisational structure and decision-making policies
Under the new constitution, the Board comprises of up to twelve individuals who are Directors of the company and who act as Charity Trustees. Of that number two are nominated by Perth and Kinross Council. The remaining Trustees are individuals who by application or invitation are elected by the Charity at a general meeting. Four Board sub groups cover Governance, Finance, Fundraising and HR, Marketing and Communications and Mission and Projects. The skills matrix and a register of interests for the Trustees has been updated and the Risk Register has also been updated to include that staff are now hybrid working. During the year, all Trustees completed Finance training conducted by EQ Accountants.
c. Financial risk management
The Trustees have reviewed the major risks to which the charitable company is exposed, particularly in connection with the charitable company's ability to undertake the activities for which it was established and consider that adequate safeguards are in place to mitigate these risks as far as possible.
Plans for future periods
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Statement of Trustees' responsibilities
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
∙so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
∙that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Sumer Auditco Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS AND THE TRUSTEES OF PERTH AND KINROSS COUNTRYSIDE TRUST
We have audited the financial statements of Perth and Kinross Countryside Trust (the 'charitable company') for the year ended
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS AND THE TRUSTEES OF PERTH AND KINROSS COUNTRYSIDE TRUST (CONTINUED)
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Trustees' report which includes the directors' report and strategic report prepared for the purposes of the company law for the financial year for which the financial statements are prepared is consistent with the financial statements..
∙the directors' report and strategic report included within the Trustees' report has been prepared in accordance with applicable legal requirements.
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors report included within the Trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
∙adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Trustees' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit; or
∙the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS AND THE TRUSTEES OF PERTH AND KINROSS COUNTRYSIDE TRUST (CONTINUED)
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the charitable company and the industry in which it operates, and considered the risk of acts by the charitable company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities and Trustee Investment (Scotland) Act 2005, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS AND THE TRUSTEES OF PERTH AND KINROSS COUNTRYSIDE TRUST (CONTINUED)
This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees and Trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, its members, as a body, and its trustees, as a body for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Pentland House
Saltire Centre
Glenrothes
Fife
KY6 2AH
Sumer Auditco Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 16
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
Page 17
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
REGISTERED NUMBER: SC173308
BALANCE SHEET
AS AT 31 MARCH 2025
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
REGISTERED NUMBER: SC173308
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
Page 19
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
Page 20
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1.Accounting policies
The Charity has secured ongoing funding to 31 March 2025 and has a guarantee from Perth and Kinross Council to cover any pension liability therefore on this basis the trustees have prepared accounts on a going concern basis. The financial statements are prepared in Sterling, which is the functional currency of the Trust. Monetary amounts in those financial statements are rounded to the nearest £.
Perth and Kinross Countryside Trust (Company No - SC173308 and Charity No – SC027481) is a company, limited by guarantee and incorporated in Scotland. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Income is recognised when the charitable company has entitlement to the funds, when it is probable that the income will be received and the amount can be measured reliably.
Donations, legacies and similar income resources are included in the period in which they are receivable, which is when the charitable company becomes entitled to the resource.
Income from grants is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1.Accounting policies (continued)
As a charitable company, Perth and Kinross Countryside Trust is exempt from tax on income and gains to the extent that these are applied to its charitable objectives. No tax charges have arisen in the charitable company in either the current or prior year.
Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1.Accounting policies (continued)
The charitable company operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 31 March 2025. The charitable company is part of the Tayside Pension Fund. The assets of the scheme are held separately from those of the charity.
The contributions are determined by a qualified actuary on the basis of valuations using the projected unit method. The most recent valuation was as at 31 March 2025 and has been updated to reflect conditions at the balance sheet date. The assumptions that have the most significant effect on the results of the valuation are those relating to the rate of return on investments and the rate of increase in salaries and pensions. Pension scheme assets are valued at fair value at the balance sheet date. Fair value is based on market price information and in case of quoted securities is the published bid price. Pension scheme liabilities are measured on an actuarial basis using the projected unit method and are discounted to their present value using a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. The pension scheme deficit is recognised in full on the balance sheet. Pension scheme surplus will only be recognised to the extent that the charitable company is able to recover the surplus either through reduced contributions in the future or through refunds from the plan.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 24
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 25
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 26
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
During the year the charitable company received income from SGN totalling £500, an organisation in which, Jayne Scott is the Chair of the advisory board, and a Board Member of the charitable company until 3 September 2024.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 28
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 29
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 30
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 31
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Designated Funds Description
Page 32
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Trust has set aside funds for the initial running of new projects. Restricted Funds Description Aitken Arboretum – The restoration of the Aitken Arboretum on Kinnoull Hill, Perth. Ben Vrackie - The path improvements to the route up Ben Vrackie. Birnam Oak - The maintenance and care of the ancient Birnam Oak in Dunkeld. Bridge of Earn to Newburgh - An active travel route between Bridge of Earn and Newburgh. Cateran Trail – 64 mile circular route through the East Perthshire hills. Comrie Community Council Projects - This is to maintain and improve Shaky Bridge. Comrie to Bairds Monument - This is a potential new active travel route Comrie towards Crieff. Education - General education projects. Gannochy Estate Plan - Perth and Kinross Countryside Trust has produced a new plan for the Gannochy Trust showing potential access improvements. Glenturret - Is a planned nature trail between Glenturret Distillery and Crieff Hydro Hotel. Gleneagles Projects - consists of 2 biodiversity projects. One focusing on Hedgehogs in Auchterardar and one on the health of the River Earn. Kirkmichael – Paths network upgrade and maintenance in and around village of Kirkmichael. Nature Connections Partnership - The nature restoration, enhancement and climate change adaption and mitigation in Perthshire. National Tree Collections of Scotland Network (NTCS) – Running NTCS; a network of Scotland's most important tree collections. Perthshire Big Tree Country (PBTC) - Upgrading and maintaining the finest woodland and heritage tree sites in Highland Perthshire for people to visit and enjoy. Perthshire Conifer Conservation Project (PCCP) – running PCCP; restoring Perthshire’s designed landscapes through ex-situ conservation of endangered conifers. Quarrymill - New interpretation and signage at Quarrymill. Rannoch Active Travel Route- Rannoch -The creation of a fully accessible active travel route from the village down to the riverside path and a new destination with seating, and to improve the access for all along the paths heading east and west along the riverbank. Rattray Map Project - The development of a map and leaflet for a local path network. River Tay Way – Establishing a long distance walking and cycling route from Kenmore to Perth.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12. Statement of funds (continued)
Riverwoods - Re-establishment of Riverwoods in the Upper Almond catchment across multiple landholdings. Stanley Hill - Helping the Dunkeld Arboretum Group with planning phase for access improvements at Stanley Hill in Dunkeld Tayside Biodiversity Partnership - working with communities across Tayside to enhance their local biodiversity Tay Landscape Partnership – HLF-funded 4 year Landscape Partnership project in partnership with Perth & Kinross Heritage Trust. Transfer between funds The Trust agreed to the following transfers: monies from unrestricted to the designated Development Fund; monies from the unrestricted fund to clear an overspend on restricted funds and monies were transferred from unrestricted and designated to restricted funds.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 35
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The company operates a defined benefit pension scheme.
The company operates within the Local Government Superannuation Scheme and is permitted to participate in the Perth and Kinross Council Fund. A separate valuation has been prepared for the portion of the scheme relating to the company. The most recent valuation was carried out at 31 March 2025.
Perth and Kinross Council are guarantors of any pension liability. Therefore there are no unfunded liabilities.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18.Pension commitments (continued)
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18.Pension commitments (continued)
Page 38
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 39
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