REGISTERED COMPANY NUMBER: SC164382 (Scotland)

REGISTERED CHARITY NUMBER: SC024756

Report of the Trustees and

Unaudited Financial Statements For The Year Ended 31 January 2025

for

Dufftown 2000 Ltd.

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

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 31 January 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

Objectives and aims

2024 has been a good year for Dufftown 2000 Ltd and good progress has been made with the development of the Whisky and Heritage Centre.

In May 24, we held the Whisky Fair and other whisky events as a part of the Spirit of Speyside Whisky Festival. Attendance was on par with 2023 with 8 Independent Bottlers together with Tomintoul and Glencadam Distilleries. Again numbers were slightly lower than 2023 possibly exacerbated by the introduction of the Short Term Letting Licence legislation in October 2023 which has resulted in less tourism accommodation in the area.

In June 2024 we welcomed a new Director Louise Creane-Smith. Louise has a wide and varied skill set and has been key in re-energising the refurbishment of the Whisky and Heritage Centre.

The directors have also succeeded in securing a funding package for the Christmas Lights from Galileo Empower of £1,200 a year for the next 3 years 2024-2026.

The charity is dependant on the support of volunteers who provided approximately 61 hours of unpaid service during the year.

FINANCIAL REVIEW

The level of unrestricted funds held at the year end was £170,344 of which £111,349 is represented by fixed assets and £58,995 by liquid funds.

The level of restricted funds held at the year end was £5,826.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC164382 (Scotland)

Registered Charity number

SC024756

Registered office

Whisky and Heritage Centre

12 Conval Street

Dufftown

Keith

Banffshire

AB55 4AE

Trustees

Mr N A L Cameron

Mr I J Millar

Mr S W S Oliver

Ms G J Ramon

Ms J D Smart

Ms L Creane-Smith (appointed 10.6.24)

Independent Examiner

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

Bankers

Royal Bank of Scotland

21 Market Place

Inverurie

Aberdeenshire

AB51 3PU

Approved by order of the board of trustees on 29 October 2025 and signed on its behalf by:

Mr S W S Oliver - Trustee

I report on the accounts for the year ended 31 January 2025 set out on pages four 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 Long FCA

The Institute of Chartered Accountants in England and Wales

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

29 October 2025

31.1.25

31.1.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

650

-

650

1,084

Charitable activities

General

-

1,500

1,500

-

Other trading activities

2

12,909

-

12,909

11,043

Investment income

3

222

48

270

233

Total

13,781

1,548

15,329

12,360

EXPENDITURE ON

Raising funds

109

-

109

91

Charitable activities

General

7,889

1,403

9,292

8,974

Total

7,998

1,403

9,401

9,065

NET INCOME

5,783

145

5,928

3,295

RECONCILIATION OF FUNDS

Total funds brought forward

164,561

5,681

170,242

166,947

TOTAL FUNDS CARRIED FORWARD

170,344

5,826

176,170

170,242

31.1.25

31.1.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

7

111,349

-

111,349

111,276

CURRENT ASSETS

Stocks

8

406

-

406

515

Debtors

9

454

-

454

937

Cash at bank and in hand

59,289

5,826

65,115

58,924

60,149

5,826

65,975

60,376

CREDITORS

Amounts falling due within one year

10

(1,154

)

-

(1,154

)

(1,410

)

NET CURRENT ASSETS

58,995

5,826

64,821

58,966

TOTAL ASSETS LESS CURRENT LIABILITIES

170,344

5,826

176,170

170,242

NET ASSETS

170,344

5,826

176,170

170,242

FUNDS

11

Unrestricted funds

170,344

164,561

Restricted funds

5,826

5,681

TOTAL FUNDS

176,170

170,242

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 29 October 2025 and were signed on its behalf by:

Mr S W S Oliver - 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.

Freehold property

-

not provided

Plant and machinery

-

25% on cost and 20% on cost

Computer equipment

-

33% on cost and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.	OTHER TRADING ACTIVITIES

31.1.25

31.1.24

£

£

Fundraising events

12,533

10,182

Shop income

376

861

12,909

11,043

3.	INVESTMENT INCOME

31.1.25

31.1.24

£

£

Deposit account interest

270

233

4.	NET INCOME/(EXPENDITURE)

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

31.1.25

31.1.24

£

£

Depreciation - owned assets

607

387

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2025 nor for the year ended 31 January 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2025 nor for the year ended 31 January 2024.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,084

-

1,084

Other trading activities

10,722

321

11,043

Investment income

195

38

233

Total

12,001

359

12,360

EXPENDITURE ON

Raising funds

91

-

91

Charitable activities

General

7,965

1,009

8,974

Total

8,056

1,009

9,065

NET INCOME/(EXPENDITURE)

3,945

(650

)

3,295

RECONCILIATION OF FUNDS

Total funds brought forward

160,616

6,331

166,947

TOTAL FUNDS CARRIED FORWARD

164,561

5,681

170,242

7.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 February 2024

109,712

13,544

388

123,644

Additions

-

680

-

680

Disposals

-

(7,926

)

-

(7,926

)

At 31 January 2025

109,712

6,298

388

116,398

DEPRECIATION

At 1 February 2024

-

12,055

313

12,368

Charge for year

-

574

33

607

Eliminated on disposal

-

(7,926

)

-

(7,926

)

At 31 January 2025

-

4,703

346

5,049

NET BOOK VALUE

At 31 January 2025

109,712

1,595

42

111,349

At 31 January 2024

109,712

1,489

75

111,276

8.

STOCKS

31.1.25

31.1.24

£

£

Stocks

406

515

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Prepayments

454

937

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Accrued expenses

1,154

1,410

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.2.24

in funds

31.1.25

£

£

£

Unrestricted funds

General fund

164,561

5,783

170,344

Restricted funds

Lights

2,832

1,160

3,992

Museum

2,849

(1,015

)

1,834

5,681

145

5,826

TOTAL FUNDS

170,242

5,928

176,170

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

13,781

(7,998

)

5,783

Restricted funds

Lights

1,548

(388

)

1,160

Museum

-

(1,015

)

(1,015

)

1,548

(1,403

)

145

TOTAL FUNDS

15,329

(9,401

)

5,928

Comparatives for movement in funds

Net

movement

At

At 1.2.23

in funds

31.1.24

£

£

£

Unrestricted funds

General fund

160,616

3,945

164,561

Restricted funds

Lights

2,794

38

2,832

Museum

3,537

(688

)

2,849

6,331

(650

)

5,681

TOTAL FUNDS

166,947

3,295

170,242

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

12,001

(8,056

)

3,945

Restricted funds

Lights

38

-

38

Museum

321

(1,009

)

(688

)

359

(1,009

)

(650

)

TOTAL FUNDS

12,360

(9,065

)

3,295

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

Net

movement

At

At 1.2.23

in funds

31.1.25

£

£

£

Unrestricted funds

General fund

160,616

9,728

170,344

Restricted funds

Lights

2,794

1,198

3,992

Museum

3,537

(1,703

)

1,834

6,331

(505

)

5,826

TOTAL FUNDS

166,947

9,223

176,170

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

25,782

(16,054

)

9,728

Restricted funds

Lights

1,586

(388

)

1,198

Museum

321

(2,024

)

(1,703

)

1,907

(2,412

)

(505

)

TOTAL FUNDS

27,689

(18,466

)

9,223

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 January 2025.