IRIS Accounts Production v25.2.0.378 SC256859 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC256859 2024-03-31 SC256859 2025-03-31 SC256859 2024-04-01 2025-03-31 SC256859 2023-03-31 SC256859 2023-04-01 2024-03-31 SC256859 2024-03-31 SC256859 ns15:Scotland 2024-04-01 2025-03-31 SC256859 ns14:PoundSterling 2024-04-01 2025-03-31 SC256859 ns10:Director1 2024-04-01 2025-03-31 SC256859 ns10:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 SC256859 ns10:SmallEntities 2024-04-01 2025-03-31 SC256859 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC256859 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 SC256859 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC256859 ns10:FullAccounts 2024-04-01 2025-03-31 SC256859 1 2024-04-01 2025-03-31 SC256859 ns10:Director4 2024-04-01 2025-03-31 SC256859 ns10:Director5 2024-04-01 2025-03-31 SC256859 ns10:Director7 2024-04-01 2025-03-31 SC256859 ns10:Director10 2024-04-01 2025-03-31 SC256859 ns10:Director11 2024-04-01 2025-03-31 SC256859 ns10:Director12 2024-04-01 2025-03-31 SC256859 ns10:Director13 2024-04-01 2025-03-31 SC256859 ns10:Director14 2024-04-01 2025-03-31 SC256859 ns10:CompanySecretary1 2024-04-01 2025-03-31 SC256859 ns10:RegisteredOffice 2024-04-01 2025-03-31 SC256859 ns5:CurrentFinancialInstruments 2025-03-31 SC256859 ns5:CurrentFinancialInstruments 2024-03-31 SC256859 ns5:Non-currentFinancialInstruments 2025-03-31 SC256859 ns5:Non-currentFinancialInstruments 2024-03-31 SC256859 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 SC256859 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 SC256859 ns5:NetGoodwill 2024-04-01 2025-03-31 SC256859 ns5:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 SC256859 ns5:LandBuildings ns5:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 SC256859 ns5:PlantMachinery 2024-04-01 2025-03-31 SC256859 ns5:FurnitureFittings 2024-04-01 2025-03-31 SC256859 ns5:NetGoodwill 2024-03-31 SC256859 ns5:NetGoodwill 2025-03-31 SC256859 ns5:NetGoodwill 2024-03-31 SC256859 ns5:LandBuildings 2024-03-31 SC256859 ns5:PlantMachinery 2024-03-31 SC256859 ns5:FurnitureFittings 2024-03-31 SC256859 ns5:LandBuildings 2024-04-01 2025-03-31 SC256859 ns5:LandBuildings 2025-03-31 SC256859 ns5:PlantMachinery 2025-03-31 SC256859 ns5:FurnitureFittings 2025-03-31 SC256859 ns5:LandBuildings 2024-03-31 SC256859 ns5:PlantMachinery 2024-03-31 SC256859 ns5:FurnitureFittings 2024-03-31 SC256859 ns5:CostValuation 2024-03-31 SC256859 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 SC256859 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 SC256859 ns5:Secured 2025-03-31 SC256859 ns5:Secured 2024-03-31

REGISTERED NUMBER: SC256859 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

TOBERMORY HARBOUR ASSOCIATION

TOBERMORY HARBOUR ASSOCIATION (REGISTERED NUMBER: SC256859) |

CONTENTS OF THE FINANCIAL STATEMENTS

For The Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| TOBERMORY HARBOUR ASSOCIATION |

COMPANY INFORMATION

For The Year Ended 31 March 2025

| DIRECTORS: | Lee Aaron Gallagher

| Edward Hewitt

| Emma Clare MacDonald

| John Henderson MacDonald

| Michael Campbell Stirling

| James Traynor

| Mary Hutchison Macgregor

| Paul Edward Mcadam

| Ian David Wildgoose

| SECRETARY: | Anne Fraser

| REGISTERED OFFICE: | Taigh Solais

| Ledaig

| Tobermory

| ISLE OF MULL

| Argyll

| PA75 6NR

| REGISTERED NUMBER: | SC256859 (Scotland)

| ACCOUNTANTS: | R A Clement Associates

| 5 Argyll Square

| OBAN

| Argyll

| PA34 4AZ

TOBERMORY HARBOUR ASSOCIATION (REGISTERED NUMBER: SC256859) |

BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 15,200 |  | 17,100 |  |

Tangible assets | 5 | 2,096,913 |  | 1,798,147 |  |

Investments | 6 | 250 |  | 250 |  |

2,112,363 |  | 1,815,497 |  |

CURRENT ASSETS

Stocks | 89,616 |  | 78,501 |  |

Debtors | 7 | 57,151 |  | 51,086 |  |

Cash at bank and in hand | 67,020 |  | 87,189 |  |

213,787 |  | 216,776 |  |

CREDITORS

Amounts falling due within one year | 8 | 61,797 |  | 132,886 |  |

NET CURRENT ASSETS | 151,990 |  | 83,890 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,264,353 |  | 1,899,387 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (241,426 | ) | (259,039 | ) |

PROVISIONS FOR LIABILITIES | (14,000 | ) | (14,500 | ) |

ACCRUALS AND DEFERRED INCOME | 11 | (1,716,332 | ) | (1,328,818 | ) |

NET ASSETS | 292,595 |  | 297,030 |  |

RESERVES

Income and expenditure account | 292,595 |  | 297,030 |  |

292,595 |  | 297,030 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which 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 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 company.

TOBERMORY HARBOUR ASSOCIATION (REGISTERED NUMBER: SC256859) |

BALANCE SHEET - continued

31 March 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2025 and were signed on its behalf by:

John Henderson MacDonald - Director

TOBERMORY HARBOUR ASSOCIATION (REGISTERED NUMBER: SC256859) |

NOTES TO THE FINANCIAL STATEMENTS

For The Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Tobermory Harbour Association is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| 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 | - | Straight line over 30 years

| Plant and machinery | - | 25% on reducing balance and 15% on reducing balance

| Fixtures and fittings | - | 10% 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

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Grants

| Capital grants received are shown on the balance sheet under deferred income. These grants are released to the income statement on an annual basis in line with the deprecation policy applied to the asset for which the grant was used to finance.

TOBERMORY HARBOUR ASSOCIATION (REGISTERED NUMBER: SC256859) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 11 (2024 - 10 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 19,000 |  |

| AMORTISATION

| At 1 April 2024 | 1,900 |  |

| Amortisation for year | 1,900 |  |

| At 31 March 2025 | 3,800 |  |

| NET BOOK VALUE

| At 31 March 2025 | 15,200 |  |

| At 31 March 2024 | 17,100 |  |

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Freehold |  | Plant and |  | and |

| property |  | machinery |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 2,047,122 |  | 1,213,212 |  | 183,304 |  | 3,443,638 |  |

| Additions | 417,471 |  | - |  | - |  | 417,471 |  |

| At 31 March 2025 | 2,464,593 |  | 1,213,212 |  | 183,304 |  | 3,861,109 |  |

| DEPRECIATION

| At 1 April 2024 | 666,033 |  | 841,782 |  | 137,676 |  | 1,645,491 |  |

| Charge for year | 42,179 |  | 65,724 |  | 10,802 |  | 118,705 |  |

| At 31 March 2025 | 708,212 |  | 907,506 |  | 148,478 |  | 1,764,196 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,756,381 |  | 305,706 |  | 34,826 |  | 2,096,913 |  |

| At 31 March 2024 | 1,381,089 |  | 371,430 |  | 45,628 |  | 1,798,147 |  |

TOBERMORY HARBOUR ASSOCIATION (REGISTERED NUMBER: SC256859) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 250 |  |

| NET BOOK VALUE

| At 31 March 2025 | 250 |  |

| At 31 March 2024 | 250 |  |

| The fixed asset investment is five shares in the company renewable energy company, Green Energy Mull Limited, a registered community benefit society.

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 14,504 |  | 20,636 |  |

| Other debtors | 42,647 |  | 30,450 |  |

57,151 |  | 51,086 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 17,390 |  | 16,500 |  |

| Hire purchase contracts | 2,039 |  | 2,038 |  |

| Trade creditors | 21,796 |  | 87,647 |  |

| Taxation and social security | 7,262 |  | 9,504 |  |

| Other creditors | 13,310 |  | 17,197 |  |

61,797 |  | 132,886 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 239,328 |  | 254,961 |  |

| Hire purchase contracts | 2,098 |  | 4,078 |  |

241,426 |  | 259,039 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 177,823 |  | 183,306 |  |

TOBERMORY HARBOUR ASSOCIATION (REGISTERED NUMBER: SC256859) |

NOTES TO THE FINANCIAL STATEMENTS - continued

For The Year Ended 31 March 2025

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Nationwide Building Society | 74,143 |  | 80,810 |  |

| Virgin Money | 146,463 |  | 149,696 |  |

220,606 |  | 230,506 |  |

| The Nationwide Building Society (Formerly Dumfermline Building Society) hold a standard security and floating charge over the assets of the company.

| Virgin Money group hold a standard security over over the building known as Taigh Solais

| The Bounce back loan is an unsecured COVID-19 support loan outstanding 2025 £34,895 (2024: £40,955).

| Argyll and Bute Council hold a standard security over Aros car park, title number ARG27065 in regards to Capital Grants paid to the Association.

11. | ACCRUALS AND DEFERRED INCOME

2025 | 2024 |

£ | £ |

| Deferred grants | 1,716,332 |  | 1,328,818 |  |

| Accruals and deferred income comprise of grants received by the company to assist with the purchase of capital items. The accounting policy is to recognise the grant to the income statement in line with the depreciation policy of the asset the grant has been used to fund.

| It is estimated that in the next accounting period £96,000 of deferred grant will be transferred to the income statement.

| Some of the grants received are subject to claw back should the conditions of the award not be met. The deferred grant provision does not reflect the value of grants still within their claw back period.

| The Directors confirm that at 31 March 2025 none of the conditions of award have been breached.

12. | LIMITED BY GUARANTEE

| The company is a private company, limited by guarantee. As such, it has no share capital, and each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of a liquidation.