Charity Registration No. SC044488 (Scotland)
Company Registration No. SC460655 (Scotland)
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr Ronald Irvine
Mr Anthony Bryce
Ms J L Boyd
Mr Alastair Barge
Mr Christopher Trainer
Mrs J Sim
Mr S Williamson
Ms S M Currie
Mr A MacDonald
Mr E A Stirling
Charity number (Scotland)
SC044488
Company number
SC460655
Registered office
The Old Surgery
School Road
Tarbert
Argyll
PA29 6UL
Independent examiner
Iain D C Webster
The Old Surgery
School Road
Tarbert
Argyll
PA29 6UL
Bankers
Virgin Money
https://uk.virginmoney.com/
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5 - 6
Balance sheet
7
Notes to the financial statements
8 - 22
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 1 -

The Trustees present their annual report and financial statements for the year ended 28 February 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's memorandum and articles of association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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) (effective 1 January 2019)".

Objectives and activities

The Trust's objects are:

- To provide, or organise, recreational facilities with the object of improving the conditions of life for the public at large within the community;

- To advance the arts, heritage and culture, education, health and social care;

- To relieve those in need by reason of age, ill health, disability, financial hardship or other disadvantage, particularly through supporting projects working towards these aims within the Community;

- To advance environmental protection or improvement;

- To advance citizenship and/or community development within the Community, and

- To promote, establish, operate and/or support other similar schemes which are in furtherance of charitable purposes for the benefit of the Community.

Strategies for achieving aims and objectives

The policies adopted in furtherance of these objects are;

- Working with other organisations within the Community;

- Producing a Community Development Plan;

- Sourcing funds in order to carry out projects in said plan, and

- Overseeing the realisation of projects.

T here has been no change in these during the year.

Public benefit

The Trustees have paid due regard to guidance issued by the Office of the Scottish Charity Regulator in deciding what activities the Trust should undertake.

Activities

The major activity undertaken by the Trust in the year was the acquisition of two shop premises on the main street in Tighnabruaich. The principal funding for the purchase was a grant from the Scottish Land Fund, to whom the Trust is extremely grateful for their support. The balance of the funding came from the Trust’s own resources. One of the shop units houses the popular Heritage Centre, operated by volunteers on the Trust’s behalf. The purchase secures these premises for the Centre. The other shop is let to a third party and operates as an outlet for curios and bric a brac. The purchase serves to protect the retail focus of this section of the main street.

Otherwise the Trust continued to support community projects and some self-developed projects throughout the year, as outlined later.

TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
Achievements and performance
Significant activities and achievements against objectives

The flow of income to the charity from its investment in Sròndoire Wind Farmers Limited, through its subsidiary company Tighnabruaich District Community Renewables Limited, was sustained at a high level, primarily owing to high underlying electricity prices as a result of Russia’s invasion of Ukraine. The funding used to finance the investment in Sròndoire was fully repaid at the year end.

The flow of community projects requiring support had still not recovered to pre-pandemic levels in number, but included some significant amounts. The Trust continued to support community projects and develop projects in its own right. Grants awarded in the year from the Trust’s own resources amounted to £19,891 (along with expenditure of £4,130 on project support costs that had been met directly by the Trust), which was down on the year before, and ranged in size from £438 to £11,250. Grants included support for the purchase of a new fairway lawnmower for Kyles of Bute Golf Club, assistance with repairs to the roof and wall coverings of the Kames Village Hall, a programme to enhance cycling activity at Tighnabruaich Primary School, an after school club at Otter Ferry and the continuation of grants for supported study for students resident in the hostel at Dunoon Grammar School.

There was little Trust led activity associated with the local paths network, but extensive costs of over £2,600 were incurred to maintain the town jetty and this will continue in 2025. While agreement has been reached with the Crown Estate for a new 20-year lease for the jetty and associated moorings, the lease is in the process of being transferred to the Trust as the newly reformed Community Council does not regard it as falling within its remit.

The Trust continues to maintain the defibrillators in the area which resulted in modest outlays in the year. It has also taken on knotweed eradication in Tighnabruaich and Kames foreshore and spent £785 on this in the year. The Trust continues to run the Kyles 10 Miles event. It is increasingly popular and was successfully run again in early September, generating a surplus towards the Trust’s funds. Arrangements are underway for the 2025 event.

Our part-time development officer continued to deal with much of the routine administration and, more importantly, extend the scope of the Trust's fundraising activities on behalf of the community. His work is invaluable to the successful operation of the Trust as its activities evolve and expand.

The Heritage Centre continues to operate and the displays and presentations continue to be refreshed. The Trust also operates a VETS scheme. VETS stands for Volunteer Emergency Telephone Service and alerts local volunteers to anyone suffering a suspected heart attack. The volunteer can deliver CPR and defibrillation while awaiting the arrival of paramedics by ambulance or helicopter. This important service will be developed further in the coming months.

All projects receiving support are first reviewed by an Investment Committee, separate from the Trust, to ensure they meet the objectives of the Trust, are to be properly managed and are considered to be of benefit to the community. Applications from community groups are actively encouraged.

The Community Plan has been updated to reflect recent achievements and identify new priorities for community support. This was done in conjunction with other established community groups in the area and via a community-wide survey to ascertain whether there are other priorities the Trust should be trying to address.

Financial review

The charity has achieved an overall operating surplus of £156,744 in the year under review. Underlying funds remain in a positive position with an unrestricted reserve of £187,099 (2024: £77,899) being available to the Trust.

Reserves policy

It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level to enable the Trust to meet expenditure as it falls due which the Trustee's expect to consist of six months of ordinary running costs.

It is the intention of the trustees to continue to accumulate a small reserve of unrestricted funds over the coming year.

TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
Major risks

The Trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Trust is a company limited by guarantee and governed by its Articles of Association.

The Trust is administered by the board of Trustee's within the terms of its memorandum and articles of association.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Ronald Irvine
Mr Anthony Bryce
Ms J L Boyd
Mr Alastair Barge
Mr Christopher Trainer
Mrs J Sim
Mr S Williamson
Ms S M Currie
Mr A MacDonald
Mr E A Stirling
Recruitment and appointment of trustees

Directors are elected by the membership of the Trust.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees' r eport was approved by the Board of Trustees.

Mr Alastair Barge
Trustee
15 September 2025
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
- 4 -

I report on the financial statements of the Trust for the year ended 28 February 2025, which are set out on pages 5 to 22.

Respective responsibilities of Trustees and examiner

The charity trustees (who are also the directors of Tighnabruaich District Development Trust for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.The Trust Trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.

It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the 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 financial statements.

Independent examiner's statement

In the course of 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 Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and

- to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006

have not been met, or

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

Iain D C Webster
The Old Surgery
School Road
Tarbert
Argyll
PA29 6UL
15 September 2025
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
Unrestricted
Unrestricted
Restricted
Total
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
general
Designated
general
Designated
2025
2025
2025
2025
2024
2024
2024
2024
Notes
£
£
£
£
£
£
£
£
Income from:
Donations and legacies
3
1,816
-
-
1,816
101
-
14,677
14,778
Charitable activities
4
10,404
-
72,449
82,853
11,099
-
7,109
18,208
Investments
5
25,000
-
-
25,000
45,001
-
-
45,001
Total income
37,220
-
72,449
109,669
56,201
-
21,786
77,987
Expenditure on:
Charitable activities
6
36,684
10,750
16,419
63,853
45,892
6,500
20,130
72,522
Property purchase and Islay visit
12
-
-
-
-
-
-
670
670
Total expenditure
36,684
10,750
16,419
63,853
45,892
6,500
20,800
73,192
Net gains/(losses) on investments
13
110,928
-
-
110,928
14,988
-
-
14,988
Net income/(expenditure)
111,464
(10,750)
56,030
156,744
25,297
(6,500)
986
19,783
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2025
Unrestricted
Unrestricted
Restricted
Total
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
general
Designated
general
Designated
2025
2025
2025
2025
2024
2024
2024
2024
Notes
£
£
£
£
£
£
£
£
- 6 -
Transfers between funds
(2,264)
-
2,264
-
(18,012)
17,250
762
-
Net movement in funds
9
109,200
(10,750)
58,294
156,744
7,285
10,750
1,748
19,783
Reconciliation of funds:
Fund balances at 1 March 2024
77,899
10,750
6,097
94,746
70,614
-
4,349
74,963
Fund balances at 28 February 2025
187,099
-
64,391
251,490
77,899
10,750
6,097
94,746

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 7 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
15
68,622
538
Investments
16
157,509
46,581
226,131
47,119
Current assets
Debtors
17
2,178
1,682
Cash at bank and in hand
31,748
49,463
33,926
51,145
Creditors: amounts falling due within one year
18
(8,567)
(3,518)
Net current assets
25,359
47,627
Total assets less current liabilities
251,490
94,746
The funds of the Trust
Restricted income funds
19
64,391
6,097
Unrestricted funds - general
21
187,099
77,899
Unrestricted funds - Designated
20
-
10,750
251,490
94,746

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 February 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 15 September 2025
Mr E A Stirling
Trustee
Company registration number SC460655 (Scotland)
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
1
Accounting policies
Charity information

Tighnabruaich District Development Trust is a private company limited by guarantee incorporated in Scotland. The registered office is The Old Surgery, School Road, Tarbert, Argyll, PA29 6UL.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Trust's Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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) (effective 1 January 2019)". The Trust is a Public Benefit Entity as defined by FRS 102.

The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Going concern

At the time of approving the accounts, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future with regular dividends expected to be received from its investment in Tighnabruaich District Community Renewables Ltd. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is all considered as expenditure on charitable activities and includes the cost of running the Trust as well as grants. Grants payable are charged in the year when the offer is conveyed and a valid expectation created with the recipient that the grant will be paid. Any grants awarded and not claimed are recognised as refunds in the year they are not claimed. All costs are exclusive of VAT where applicable.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 9 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
No depreciation charged
Fixtures, fittings & equipment
15% reducing balance
Computers
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the Trust. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 10 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the Trust’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
1,816
-
1,816
101
14,079
14,180
Grants
-
-
-
-
598
598
1,816
-
1,816
101
14,677
14,778

TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 11 -
4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Jetty
Donations
-
365
365
-
68
68
Kyles 10 Miles
Services provided under contract
8,979
-
8,979
11,099
-
11,099
Heritage Centre
Performance related grants
-
61,443
61,443
-
1,950
1,950
Charitable rental income
1,425
-
1,425
-
-
-
Pathways and War Memorial
Donations
-
643
643
-
-
-
Gaelic Festival
Performance related grants
-
-
-
-
5,091
5,091
Community Development
Performance related grants
-
9,998
9,998
-
-
-
10,404
72,449
82,853
11,099
7,109
18,208

5
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Income from unlisted investments
25,000
45,000
Interest receivable
-
1
25,000
45,001
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 12 -
6
Charitable activities

Defibrillator and VETS project

Jetty Project

Kyles 10 miles

Heritage Centre

Pathways

Gaelic festival and projects

External grants awarded

Total
2025
Total
2024
2025
2025
2025
2025
2025
2025
2025
£
£
£
£
£
£
£
£
£

Project support costs

567
2,629
6,079
294
-
4,766
-
14,335
8,525

Rent

-
-
-
559
-
-
-
559
2,400

Insurance

-
-
-
1,425
-
-
-
1,425
587

Heat and light

-
-
-
1,691
-
-
-
1,691
1,317

Equipment costs

-
-
-
180
-
-
-
180
-

Development officer costs

-
-
-
-
-
-
9,250
9,250
6,500

Professional and consultants fees

-
-
-
-
-
-
9,024
9,024
1,950
567
2,629
6,079
4,149
-
4,766
18,274
36,464
21,279
Grant funding of activities (see note 7)
-
-
-
-
-
-
19,733
19,733
43,859
Share of support costs (see note 8)
-
-
1,197
1,197
1,197
1,197
1,196
5,984
6,262
Share of governance costs (see note 8)
-
-
334
334
334
334
336
1,672
1,122
567
2,629
7,610
5,680
1,531
6,297
39,539
63,853
72,522
Analysis by fund
Unrestricted funds - general
567
-
7,610
5,680
1,531
1,531
19,765
36,684
45,892
Unrestricted funds - designated
-
-
-
-
-
-
10,750
10,750
6,500
Restricted funds
-
2,629
-
-
-
4,766
9,024
16,419
20,130
567
2,629
7,610
5,680
1,531
6,297
39,539
63,853
72,522
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
6
Charitable activities
(Continued)
- 13 -
For the year ended 29 February 2024

Defibrillator and VETS project

Jetty Project

Kyles 10 miles

Heritage Centre

Pathways

Gaelic festival and projects

External grants awarded

Total
2024
£
£
£
£
£
£
£
£

Project support costs

260
3,406
4,164
-
132
563
-
8,525

Rent

-
-
-
2,400
-
-
-
2,400

Insurance

-
-
-
587
-
-
-
587

Heat and light

-
-
-
1,317
-
-
-
1,317

Development officer costs

-
-
1,950
-
-
-
4,550
6,500

Professional and consultants fees

-
-
-
1,950
-
-
-
1,950
260
3,406
6,114
6,254
132
563
4,550
21,279
Grant funding of activities (see note 7)
-
-
-
-
-
-
43,859
43,859
Share of support costs (see note 8)
868
868
868
868
868
868
1,054
6,262
Share of governance costs (see note 8)
187
187
187
187
187
187
-
1,122
1,315
4,461
7,169
7,309
1,187
1,618
49,463
72,522
Analysis by fund
Unrestricted funds - general
1,315
1,055
5,219
5,359
1,055
1,055
30,834
45,892
Unrestricted funds - designated
-
-
1,950
-
-
-
4,550
6,500
Restricted funds
-
3,406
-
1,950
132
563
14,079
20,130
1,315
4,461
7,169
7,309
1,187
1,618
49,463
72,522
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 14 -
7
Grants payable

External grants awarded

External grants awarded

2025
2024
£
£
Grants to institutions (6 grants):
Kyles Athletic Shinty Club
-
39,036
Kames and District Recreation Club
4,500
-
Millhouse Community
-
528
Otter Ferry Otters
1,203
-
Friends of Glenan Wood
-
2,367
Tighnabruaich Primary Parent Council
1,000
-
Dunoon School Hostel Parent Partnership
1,500
-
RNLI
-
428
Chris Femandex - planters
280
-
Kyles of Bute Gold Club
11,250
-
Dunoon School Hostel Parent Partnership
-
1,500
19,733
43,859
8
Support costs allocated to activities
2025
2024
£
£
Depreciation
81
95
Website running costs
-
198
General admin
4,935
4,491
Room Hire
-
18
General maintenance
780
780
Telephone
-
107
Travel
98
70
Subscriptions
90
315
Governance costs
1,672
1,310
7,656
7,384
Analysed between:
Defibrillator
and VETS
-
1,055
Jetty
-
1,055
Kyles 10 Miles
1,531
1,055
Heritage Centre
1,531
1,055
Pathways and War Memorial
1,531
1,055
Gaelic Festival
1,531
1,055
Community Development
1,532
1,054
7,656
7,384
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
8
Support costs allocated to activities
(Continued)
- 15 -

Support and governance costs have been spread equally over the five main active activities of the Trust, with exception (for 2024) with the costs associated with the potential purchase of the property and trip to Islay for review of the feasibility to purchase the Petrol Station which have been allocated in full.

Governance costs includes payments to the accountant of £1,375 (202 3: £1,250) for accountancy services and independent examination fees.

9
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
1,375
-
Depreciation of owned tangible fixed assets
81
95
10
Trustees

No Trustee (or any persons connected with them) received any remuneration during the year. One Trustee was reimbursed a total of £53 for project expenses (2024- two Trustees were reimbursed a total of £337 for office and project expenses).

11
Employees

The average monthly number of employees (including Trustees) during the year was:

2025
2024
Number
Number
Trustees
10
10

No Trustee received remuneration or similar during the year.

There were no employees whose annual remuneration was more than £60,000.
12
Property purchase and Islay visit
Restricted
Restricted
funds
funds
2025
2024
£
£
Other expenditure
-
670
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 16 -
13
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
2025
2024
Gains/(losses) arising on:
£
£
Revaluation of investments
110,928
14,988
14
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

15
Tangible fixed assets
Land and buildings
Fixtures, fittings & equipment
Computers
Total
£
£
£
£
Cost
At 1 March 2024
-
487
146
633
Additions
68,165
-
-
68,165
At 28 February 2025
68,165
487
146
68,798
Depreciation and impairment
At 1 March 2024
-
73
22
95
Depreciation charged in the year
-
62
19
81
At 28 February 2025
-
135
41
176
Carrying amount
At 28 February 2025
68,165
352
105
68,622
At 29 February 2024
-
414
124
538
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 17 -
16
Fixed asset investments
Other investments
£
Cost or valuation
At 1 March 2024
46,581
110,928
At 28 February 2025
157,509
Carrying amount
At 28 February 2025
157,509
At 29 February 2024
46,581
2025
2024
Other investments comprise:
Notes
£
£
Investments in subsidiaries
24
157,509
46,581
2025
2024
Investments at fair value comprise:
£
£
Tighnabruaich District Community Renewables Ltd
131,249
46,581
17
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
650
1,248
Other debtors
1,528
80
Prepayments and accrued income
-
354
2,178
1,682
18
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
6,895
-
Accruals and deferred income
1,672
3,518
8,567
3,518
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 18 -
19
Restricted funds

The restricted funds of the charity compri se the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be use d.

At 1 March 2024
Incoming resources
Resources expended
Transfers
At 28 February 2025
£
£
£
£
£
Jetty Project
-
365
(2,629)
2,264
-
Play Park Project
152
-
-
-
152
Pathways
180
-
-
-
180
Gaelic Project
5,765
-
(4,766)
-
999
Scottish Land Fund - Heritage Centre
-
61,443
-
-
61,443
War memorial
-
643
-
-
643
Scottish Land Fund - Feasability Study
-
9,998
(9,024)
-
974
6,097
72,449
(16,419)
2,264
64,391
Previous year:
At 1 March 2023
Incoming resources
Resources expended
Transfers
At 29 February 2024
£
£
£
£
£
Jetty Project
2,648
68
(3,406)
690
-
Play Park Project
152
-
-
-
152
Pathways
312
-
(132)
-
180
Gaelic Project
1,237
5,091
(563)
-
5,765
Scottish Land Fund
-
1,950
(1,950)
-
-
Tennis court
-
14,079
(14,079)
-
-
Highlands and Islands Enterprise
-
598
(670)
72
-
4,349
21,786
(20,800)
762
6,097
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
19
Restricted funds
(Continued)
- 19 -

Gaelic project

Brought forward grant and other funding received from Bord-na-Gaidhig, Ragdoll Foundation, Argyll & Bute Supporting Communities Fund and National heritage Lottery Fund. This is to support the promotion of the Gaelic language in the local area.

Pathways,and playpark project

Consist of various historical donations received from the public.

Scottish Land Fund

Stage 1 grant received from the Scottish Land Fund to obtain a professional valuation and survey on the property purchase in 2024.

A further £61,443 grant was received to facilitate the purchase of the Heritage Centre and adjoining Post Office during the current financial period.

Highlands and Islands Enterprise (CAKE Fund)

Grant received to cover costs incurred to Islay to discuss feasibility of community ownership of petrol station.

Tennis court

Donations and grants received from both individuals and other community bodies in contribution to the Trust's own grant to support the resurfacing of the tennis court. This is a project undertaken by the Trust on behalf of Kyles Athletic Shinty Club.

Scottish Land Fund

A grant of £9,998 was received from the Scottish Land Fund to undertake a feasibility study for the Trust to purchase the Petrol Station. This is currently ongoing as at 28 February 2025.

War Memorial

Represents donations received from the War Memorial Group and Masonic Lodge to be used against future project costs in connection to the War Memorial.

TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 20 -
20
Unrestricted funds - Designated

These are unrestricted funds which are material to the Trust's activities.

At 1 March 2024
Resources expended
Transfers
At 28 February 2025
£
£
£
£
Development officer
9,250
(9,250)
-
-
Grants paid
1,500
(1,500)
-
-
10,750
(10,750)
-
-
Previous year:
At 1 March 2023
Resources expended
Transfers
At 29 February 2024
£
£
£
£
Development officer
-
(6,500)
17,250
10,750
21
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 March 2024
Incoming resources
Resources expended
Transfers
Gains and losses
At 28 February 2025
£
£
£
£
£
£
General funds
77,899
37,220
(36,684)
(2,264)
110,928
187,099
Previous year:
At 1 March 2023
Incoming resources
Resources expended
Transfers
Gains and losses
At 29 February 2024
£
£
£
£
£
£
General funds
70,614
56,201
(45,892)
(18,012)
14,988
77,899
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 21 -
22
Analysis of net assets between funds
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
general
Designated
2025
2025
2025
2025
£
£
£
£
At 28 February 2025:
Tangible assets
7,179
-
61,443
68,622
Investments
157,509
-
-
157,509
Current assets/(liabilities)
22,411
-
2,948
25,359
187,099
-
64,391
251,490
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
general
Designated
2024
2024
2024
2024
£
£
£
£
At 29 February 2024:
Tangible assets
538
-
-
538
Investments
46,581
-
-
46,581
Current assets/(liabilities)
30,780
10,750
6,097
47,627
77,899
10,750
6,097
94,746
23
Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

24
Subsidiaries

These financial statements are separate Trust financial statements from Tighnabruaich District Community Renewables Ltd (TDCR).

Details of the Trust's subsidiaries at 28 February 2025 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Tighnabruaich District Community Renewables Ltd
Scotland
Investment company
Ordinary
100.00
TIGHNABRUAICH DISTRICT DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
24
Subsidiaries
(Continued)
- 22 -
The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Tighnabruaich District Community Renewables Ltd
-
157,509

The investment in the subsidiary is stated at its fair value which is deemed to be its Net Asset value as at 28 February 2025. The Net Asset value excludes any uplift in the underlying value of the subsidiary's interests in Srondoire Wind Farmers Ltd ("SWFL"). The subsidiary's investment in the share capital of SWFL is included at a cost of £29,882 and the subsidiary's share of the net assets of SWFL at 31 August 2024 amounted to £68,307.

The wholly owned subsidiary TDCR is incorporated in Scotland (company number SC472297) and pays all of its profits to the charity either by dividend or under the gift aid scheme. TDCR is a shareholder in SWFL and is an investment vehicle for distributions from SWFL.

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