Charity registration number SC047620 (Scotland)
Company registration number SC554361 (Scotland)
RANNOCH COMMUNITY TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
RANNOCH COMMUNITY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
K Duncan
A Penman
A Crozier
(Appointed 26 October 2024)
V Robertson
(Appointed 26 October 2024)
J Dunnigan
(Appointed 21 January 2025)
D Blair (Acting Chair)
(Appointed 19 March 2025)
Charity number (Scotland)
SC047620
Company number
SC554361
Registered office
Rannoch Hub
Kinloch Rannoch
Pitlochry
PH16 5PQ
Auditor
BK Plus Audit Ltd
144 Nethergate
Dundee
DD1 4EB
RANNOCH COMMUNITY TRUST
CONTENTS
Page
Chair's report
1
Trustees report
2 - 6
Independent auditor's report
7 - 9
Statement of financial activities
10
Balance sheet
11
Statement of cash flows
12
Notes to the financial statements
13 - 23
RANNOCH COMMUNITY TRUST
CHAIR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

It has been a landmark year for Rannoch Community Trust, marking both the continued growth of our activities and significant progress in delivering our long-term vision for community resilience and wellbeing across Rannoch.

The most notable achievement this year has been the substantial development of The Cornerstone at Rannoch, our new community hub. Thanks to the dedication of our project team, trustees, and volunteers—and the generous support of our funders including the National Lottery Community Fund, the Scottish Land Fund, Bank of Scotland Foundation, SSE, and Perth & Kinross Council—we now see the transformation of this long-held community ambition into reality. The hub is well underway and on track for completion in summer 2025, representing a lasting asset for generations to come.

Alongside this major project, the Trust has continued to deliver and support initiatives that directly improve daily life in Rannoch. Through our Community Health and Wellbeing work, we have maintained vital volunteer-led hospital transport and befriending services, reducing isolation and improving access to care. The Affordable Housing and Care at Home projects have also advanced, each addressing the urgent need for sustainable local solutions to support independent living and attract and retain residents in the area.

These developments have taken place during a challenging financial period, and while our restricted project funding has grown substantially, our general fund remains limited. The Board continues to monitor cash flow closely and is actively pursuing new income streams and partnerships to ensure financial sustainability and support ongoing operations.

The past year has also brought change within the Board, with several trustees stepping down and new members joining. I would like to extend sincere thanks to all trustees, past and present, for their commitment, insight, and energy. The continuity of community leadership they represent remains vital to our success.

Finally, my heartfelt thanks go to our volunteers, staff, funders, and all those who give their time and expertise to help Rannoch thrive. Every project, from environmental improvements to social care initiatives, is powered by the people who care deeply about this place and its future.

To all of you—thank you.

..............................
D Blair
Acting Chair
12 November 2025
RANNOCH COMMUNITY TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

The trustees are pleased to present their annual directors’ report together with the audited financial statements of the charity for the year ended 31 March 2025 which are also prepared to meet the requirements for a directors’ report and accounts for 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).

Objectives and activities

The purposes of the charity, in summary, are:

• the advancement of community development;

• the relief for those in need by reason of age, ill-health, financial hardship or other disadvantage;

• the provision of recreational facilities or organization of recreational activities;

• the promotion of environmental protection or improvement for the public benefit; and

• the advancement of the arts, heritage, culture or science.

The principal activities undertaken each year to achieve the charity’s aims and objectives are reported in the Chairman’s statement.

Achievements and performance

Our volunteers

The Trust is involved in the community and relies on voluntary help. In addition to the Board, over 10 volunteers have assisted us and are typically members of the company.

Financial review

The Trust continues to receive financial support from several organisations including The National Lottery Community Fund, Perth & Kinross Council, Bank of Scotland Foundation, the Scottish Land Fund and SSE plc. The support of government authorities and other charitable funders continues to be essential to the future of Rannoch Community Trust. The Trust also received donations from the local community to support the Trust’s initiatives.

Going concern

The trustees endeavour to ensure the financial security of the Trust for the next 12 months and are of the view that the Trust is a going concern, subject to the following caveats:

• The Cornerstone Project is at the early stage of development. The financial performance of the project and the associated impact on the financial security of the Trust are uncertain. The Trustees are actively monitoring this project.

• The cash remaining in the Trust's General Fund was relatively low at 31 March 2025 and additional funding will be required to sustain the activities of the charity in future. The Trustees are actively seeking additional funding.

RANNOCH COMMUNITY TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Structure, governance and management

Governing Document

Rannoch Community Trust is a company limited by guarantee governed by its Articles of Association dated 12 January 2017, last amended on 28 July 2020. It is registered as a charity with the Scottish Charity Regulator. Anyone can become a member of the Company, subject to the Company’s Articles of Association, and there are currently over 100 members, each of whom agrees to contribute £1 in the event of the charity winding up. The Trustees welcome all local residents to become members of the Trust.

Appointment and Resignation of trustees

The trustees are, subject to the recommendation of the Board, re-elected annually by the members of the company at the Annual General Meeting. The trustees have the power to co-opt directors to fill specialist roles though no more than one third of the Board shall consist of co-opted directors. The Board must consist of three to twelve directors.

Members are invited to nominate candidates prior to the AGM. When considering potential trustees, the Board has regard to the requirement for any specialist skills needed, gender diversity and representation from the community.

Trustee induction and training

New trustees are notified of their legal obligations under charity and company law, the Scottish Charity Regulator’s guidance on trustee duties, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes and recent financial performance of the charity.

Organisation

The Board of trustees administers the charity. They manage the day-to-day operations of the charity, together with the Project Officers. The Board normally meets monthly.

Related parties

None of our trustees receive remuneration or benefits from their work for the charity. Any connection between a trustee and any other parties must be disclosed and these are detailed in the notes to the financial statements.

Pay policy

All directors give of their time freely and as stated above, no director received remuneration in the period. The contracted hourly rate of the project officer staff is reviewed annually in accordance with average earnings.

Risk management

The trustees implement procedures designed to minimise or manage any potential impact on the charity as necessary. This work has identified that financial sustainability is the principal risk for the charity. A key element in the management of financial risk includes a regular review of available bank and cash balances and the monitoring of receipts from grant providers.

RANNOCH COMMUNITY TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -

Trustees:

The directors of the charitable company (the charity) are its trustees for charity law. The trustees and officers serving during the period under review and since the period end were as follows:

Richard Barclay (resigned 3 December 2024)

Richard owns and runs Innerhadden Estate and Innerhadden Hydro in Kinloch Rannoch. Richard is a director of the Sandend Harbour Trust and sits on various national venison strategy groups. Richard and his family are the third generation of his family to make Rannoch their home.

John Anderson (resigned 3 December 2024)

John’s family has had a connection with Rannoch for over 40 years with homes here since the mid-80s and he now splits his time between Rannoch, Auchterarder and Glasgow. He is a Chartered Accountant and having pursued a career in the accountancy profession in Glasgow, London and Chicago, returned to Scotland in 1989 to work with the owners of growth companies. He is now Director of Growth Programmes at Strathclyde Business School in Glasgow and combines this part-time role with board leadership and volunteering.

Richard Deak (resigned 6 December 2024)

Since embracing Rannoch’s breathtaking landscapes in May 2017 with his wife, Gaby, Richard has found a profound connection to the area and its vibrant community. Settling in Rannoch has not only been a personal journey for Richard but a professional one as well. As General Manager of the Loch Rannoch Highland Club he brings his comprehensive expertise in enhancing the guest experience, management efficiency, and community engagement to his role at the helm of LHRC and to the board of The Trust.

Kate Duncan

Kate is a PR and marketing consultant working with Scottish rural businesses. She also sits on the Rannoch Highland Gathering Committee. Kate grew up in Rannoch and always considered it very much as home throughout her years working in London and abroad. Kate and Andrew returned to West Tempar full time in 2019 and are managing the farm and developing business opportunities.

Lara Moir (resigned 1 April 2025)

Lara has a background in charity and project management and currently provides consultancy services in these areas. She moved to Rannoch in 2021.

Alistair Penman

Ali is a web designer and developer working for a small business based in Pitlochry and has been resident in Rannoch for 18 years. He is also the Kinloch Rannoch Village Hall Secretary, Recreation Club Secretary and organises many social events within the village. He confesses to being a dab hand at fixing the local’s computers!

Alison Robinson (resigned 8 July 2025)

Ali spent over twelve years as a Management Consultant working across UK, the United States and the Middle East. She subsequently worked as a Project Manager in London and after a period of re-training, as a Land Manager for UK Defence Estates. Ali's Family has owned Dalchosnie since the 1950's and she and her husband moved to Rannoch in late 2016 in order to pursue their dream of farming native breeds in the Highlands.

Danielle Blair

Born and educated in the area returning to make Rannoch her home once again. She is involved in local charity community events. Danielle’s background is in international events and has been working for the RICS for over 20 years delivering events and conferences around the globe. Danielle joined the Board in March 2025 working alongside the other Directors to ensure that the community are at the heart of everything that the Rannoch Community Trust consider as well as enhancing the delivery of Rannoch's Sustainable Future.

RANNOCH COMMUNITY TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -

Aislinn Crozier

Originally from Northern Ireland, Kinloch Rannoch is ‘home from home’ for Aislinn. She has worked for over 30 years in the energy industry and is now keen to put her efforts into delivering results a little closer to home and being part of the community.

Jerry Dunnigan

Jerry has lived and worked in Kinloch Rannoch for over 30 years. He has been involved in the local community in various ways including as a Community Councillor, a Chair and Founder of Rannoch in Bloom and as a Volunteer Firefighter for over 20 years. You may see him teaching at Rannoch Archery in the village, a small business he set up in 2005. Jerry is a joiner to trade but has accumulated a wide array of skills in building and estate maintenance predominantly working for Dunalastair Estate.

Vivian Robertson

With a professional background spanning social housing, hospitality, and latterly social care, Vivian brings a strong foundation in people-focused work and community engagement. Vivian works within the Care and Wellbeing sector providing independent advocacy and brokerage. She has a keen interest in community development and empowerment, driven by a belief in building sustainable, inclusive spaces where everyone can thrive. After living in Rannoch for 12 years, Vivian has recently moved slightly further afield but remains closely connected and committed to the area. She is passionate about supporting Rannoch in developing positive community assets that will help it grow and flourish sustainably for current and future generations.

Chris Massey (resigned 31 July 2025)

Chris has a background in finance and ran a community interest company before retiring to Rannoch in 2021.

Statement of trustees responsibilities

The trustees, who are also the directors of Rannoch Community Trust for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RANNOCH COMMUNITY TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

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

A Crozier
Trustee
12 November 2025
RANNOCH COMMUNITY TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS AND TRUSTEES OF RANNOCH COMMUNITY TRUST
- 7 -

Opinion

We have audited the financial statements of Rannoch Community Trust (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for opinion

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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.

Conclusions relating to going concern

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 charity’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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

RANNOCH COMMUNITY TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF RANNOCH COMMUNITY TRUST
- 8 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

-

the information given in the trustees r eport for the financial year for which the financial statements are prepared, which includes the d irectors' r eport prepared for the purposes of company law, is consistent with the financial statements; and

-

the d irectors' r eport included within the trustees r eport has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors' r eport included within the trustees r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires 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 r eport and from the requirement to prepare a s trategic r eport.

Responsibilities of trustees

As explained more fully in the s tatement of trustees r esponsibilities, the trustees, who are also the directors of the charity for the purpose 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. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts 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 auditor's 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

RANNOCH COMMUNITY TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS AND TRUSTEES OF RANNOCH COMMUNITY TRUST
- 9 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charity’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 members and trustees those matters we are required to state to them in an auditor's 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, the charitable company’s members as a body,and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Murray Dalgety CA
(Senior Statutory Auditor)
for and on behalf of
13 November 2025
BK Plus Audit Ltd
Chartered Accountants
Statutory Auditor
144 Nethergate
Dundee
DD1 4EB
RANNOCH COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
10,794
10,556
21,350
-
18,300
18,300
Charitable activities
4
2,561
-
2,561
2,314
-
2,314

Grant income

5
-
868,566
868,566
7,100
674,734
681,834
Total income
13,355
879,122
892,477
9,414
693,034
702,448
Expenditure on:
Charitable activities
6
24,860
152,186
177,046
16,408
39,058
55,466
Net (outgoing)/incoming resources before transfers
(11,505)
726,936
715,431
(6,994)
653,976
646,982
Gross transfers between funds
2,247
(2,247)
-
17,693
(17,693)
-
Net (expenditure)/income for the year/
Net movement in funds
(9,258)
724,689
715,431
10,699
636,283
646,982
Fund balances at 1 April 2024
13,484
765,324
778,808
2,785
129,041
131,826
Fund balances at 31 March 2025
4,226
1,490,013
1,494,239
13,484
765,324
778,808

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
RANNOCH COMMUNITY TRUST
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
1,308,801
365,947
Investments
11
100
100
1,308,901
366,047
Current assets
Debtors
12
46,784
34,567
Cash at bank and in hand
229,152
478,809
275,936
513,376
Creditors: amounts falling due within one year
13
(90,598)
(100,615)
Net current assets
185,338
412,761
Total assets less current liabilities
1,494,239
778,808
Income funds
Restricted funds
14
1,490,013
765,324
Unrestricted funds
15
4,226
13,484
1,494,239
778,808
The financial statements were approved by the Trustees on 12 November 2025
A Crozier
Trustee
Company registration number SC554361
RANNOCH COMMUNITY TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
693,197
712,930
Investing activities
Purchase of tangible fixed assets
(942,854)
(327,158)
Net cash used in investing activities
(942,854)
(327,158)
Net cash used in financing activities
-
-
Net (decrease)/increase in cash and cash equivalents
(249,657)
385,772
Cash and cash equivalents at beginning of year
478,809
93,037
Cash and cash equivalents at end of year
229,152
478,809
RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
1
Accounting policies
Charity information

Rannoch Community Trust is a private company limited by guarantee incorporated in Scotland. The registered office is Rannoch Hub, Kinloch Rannoch, Pitlochry, PH16 5PQ, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The charity has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The present information about the charity as an individual entity and not about its group.
1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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.

1.3
Charitable funds

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their descretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust's work or for specific projects being undertaken by the Trust.

1.4
Income
Income is recognised when the charity 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 charity has been notified of the donation, unless performance conditions require deferral of the amount.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any 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.

RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 14 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified under the following activity headings:

- Expenditure on charitable activities includes the costs of events and other activities undertaken to further the purpose of the charity and their associated support costs.

- Other expenditure represents those items not falling into any other heading

Irrecoverable VAT is charged as a costs against the activity for which the expenditure was incurred.

1.6
Tangible fixed assets

Assets in the course of construction are not depreciated.

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 charity. 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 charity 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 charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity 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.

RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
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.

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 charity 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 charity’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.

The Directors are of the opinion that there are no critical accounting estimates or judgemets that would have a material impact on the finanical statements.

RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 16 -
3
Donations and legacies
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
£
£
£
Donations and gifts
10,794
10,556
21,350
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
Donations and gifts
-
18,300
18,300

Grants

-
-
-
-
18,300
18,300
4
Charitable activities

General

General

2025
2024
£
£

Other income

2,561
2,314
5

Grant income

Restricted
Unrestricted
Restricted
Total
funds
funds
funds
2025
2024
2024
2024
£
£
£
£
Grant income
868,566
7,100
674,734
681,834
RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 17 -
6
Charitable activities

General

Project Officers

Community Hub Project

Community Health and Wellbeing

Affordable Housing

Community Groups

Care at Home

Total
2025
2025
2025
2025
2025
2025
2025
2025
2025
£
£
£
£
£
£
£
£

Advertising and promotional

203
-
-
-
-
-
-
203

Bank fees

414
-
-
-
-
-
-
414

Sundry

68
-
-
-
-
-
-
68

Computer costs

329
-
-
-
-
-
-
329

Other fees

35
-
-
-
-
-
-
35

Insurance

-
-
3,388
-
-
-
-
3,388

Memberships

1,151
-
-
-
-
-
-
1,151

Project expenses

3,088
-
479
9,335
22,337
70,436
12,620
118,295

Project officers

-
17,500
-
2,457
9,134
-
-
29,091

Other purchases

10,176
-
-
-
-
-
-
10,176
15,464
17,500
3,867
11,792
31,471
70,436
12,620
163,150
Share of governance costs (see note 7)
9,396
-
4,500
-
-
-
-
13,896
24,860
17,500
8,367
11,792
31,471
70,436
12,620
177,046
Analysis by fund
Unrestricted funds
24,860
-
-
-
-
-
-
24,860
Restricted funds
-
17,500
8,367
11,792
31,471
70,436
12,620
152,186
24,860
17,500
8,367
11,792
31,471
70,436
12,620
177,046
RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
6
Charitable activities
(Continued)
- 18 -

General

Project Officers

Community Hub Project

Community Health and Wellbeing

Affordable Housing

Community Groups

Care at Home

Total
2024
2024
2024
2024
2024
2024
2024
2024
£
£
£
£
£
£
£
£

Advertising and promotional

76
-
168
-
-
-
-
244

Bank fees

13
-
-
-
-
-
-
13

Computer costs

491
-
-
-
-
-
-
491

Heat and light

-
-
503
-
-
-
-
503

Insurance

544
-
-
-
-
-
-
544

Memberships

90
-
-
-
-
-
-
90

Professional fees

39
-
-
-
3,566
-
-
3,605

Project expenses

-
-
572
4,539
7,476
4,428
-
17,015

Project officers

-
18,273
-
2,444
1,892
-
-
22,609

Other purchases

-
-
-
219
-
206
-
425

VAT recovered from prior year

(8)
(1,614)
(2,580)
-
(240)
-
-
(4,442)
1,245
16,659
(1,337)
7,202
12,694
4,634
-
41,097
Share of governance costs (see note 7)
14,369
-
-
-
-
-
-
14,369
15,614
16,659
(1,337)
7,202
12,694
4,634
-
55,466
Analysis by fund
Unrestricted funds
15,614
-
-
794
-
-
-
16,408
Restricted funds
-
16,659
(1,337)
6,408
12,694
4,634
-
39,058
15,614
16,659
(1,337)
7,202
12,694
4,634
-
55,466
RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 19 -
7
Governance costs
2025
2024
£
£
Audit fees
4,550
4,500

Accountancy

9,346
9,350

Other compliance costs

-
519
13,896
14,369
Analysed between
Charitable activities
13,896
14,369
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Total
0
0
There were no employees whose annual remuneration was more than £60,000.
10
Tangible fixed assets
Assets under construction
£
Cost
At 1 April 2024
365,947
Additions
942,854
At 31 March 2025
1,308,801
Carrying amount
At 31 March 2025
1,308,801
At 31 March 2024
365,947

The charity is in the process of constructing a Community Hub and the trustees are hoping will be complete in the summer of 2025.

RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 20 -
11
Fixed asset investments
Other investments
Cost or valuation
At 1 April 2024 & 31 March 2025
100
Carrying amount
At 31 March 2025
100
At 31 March 2024
100
2025
2024
Other investments comprise:
Notes
£
£
Investments in subsidiaries
18
100
100
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
5,396
(1)
Other debtors
41,388
34,568
46,784
34,567
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
81,998
92,115
Amounts owed to subsidiary undertakings
100
100
Accruals and deferred income
8,500
8,400
90,598
100,615
RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 21 -
14
Restricted funds

The income funds of the charity include restricted funds comprising the following balances of donations and grants held on trust for specific purposes:

Movement in funds
Balance at
1 April 2024

Income

Expenditure

Transfers
Balance at
31 March 2025
£
£
£
£
£
Project Officers
11,677
7,824
(17,500)
-
2,001
Community Hub Project
701,038
754,008
(8,367)
-
1,446,679
Community Health and Wellbeing
26,565
21,095
(11,793)
(11,525)
24,342
Affordable Housing
5,330
13,716
(31,471)
9,278
(3,147)
Community Groups
20,714
7,199
(12,620)
-
15,293
Care at Home
-
75,280
(70,436)
-
4,844
765,324
879,122
(152,187)
(2,247)
1,490,013
Movement in funds
Balance at
1 April 2023

Income

Expenditure

Transfers
Balance at
31 March 2024
£
£
£
£
£
Project Officers
46,029
-
(16,659)
(17,693)
11,677
Community Hub Project
60,543
639,158
1,337
-
701,038
Community Health and Wellbeing
4,654
28,319
(6,408)
-
26,565
Affordable Housing
1,767
16,257
(12,694)
-
5,330
Community Groups
16,048
9,300
(4,634)
-
20,714
Care at Home
-
-
-
-
-
129,041
693,034
(39,058)
(17,693)
765,324

Projects Officers:

To provide ongoing financing of a project officer, or part time project officers.

Community Hub Project:

To progress the Community Hub initiative and finance costs associated with the purchase and refurbishment of the building.

Affordable Housing:

To progress the Affordable Housing project.

Community Groups:

To hold funds and provide administrative support to a range of small community groups in the district.

Community Health & Wellbeing:

To support the local community and offer a befriender service and to conrtribute towards the mileage costs of volunteer drivers when providing transport for locals to hospitals as and when required.

Care at Home:

To establish a community-led charitable trust, which will provide a comprehensive range of community led health and wellbeing services.

RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 22 -
15
Unrestricted funds

These are unrestricted funds funds which are material to the charity's activities made up as follows:

Movement in funds
Balance at
1 April 2024

Incom e

Expenditure

Transfers

Balance at
31 March 2025
£
£
£
£
£
General
13,484
13,355
(24,860)
2,247
4,226
Movement in funds
Balance at
1 April 2023

Incom e

Expenditure

Transfers

Balance at
31 March 2024
£
£
£
£
£
General
2,785
9,414
(16,408)
17,693
13,484

General Fund:

To be used by the charity on an on-going basis for any of its activities.

16
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
2025
2025
2025
£
£
£
Fund balances at 31 March 2025 are represented by:
Tangible assets
71,263
1,237,538
1,308,801
Investments
100
-
100
Current assets
(71,723)
257,061
185,338
(360)
1,494,599
1,494,239
Unrestricted funds
Restricted funds
Total
2024
2024
2024
£
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
71,263
294,684
365,947
Investments
100
-
100
Current assets
(57,879)
470,640
412,761
13,484
765,324
778,808
17
Related party transactions

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

RANNOCH COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 23 -
18
Subsidiaries

Details of the charity's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
The Cornerstone at Rannoch Limited
Dormant
Oridinary shares
100.00

The Cornerstone at Rannoch Limited subsidiary (previously known as Rannoch Hub Limited) was dormant thought out the year that these financial statements are prepared to.

19
Cash generated from operations
2025
2024
£
£
Surplus for the year
715,431
646,982
Movements in working capital:
(Increase) in debtors
(12,217)
(34,567)
(Decrease)/increase in creditors
(10,017)
100,515
Cash generated from operations
693,197
712,930
20
Analysis of changes in net funds

The charity had no debt during the year.

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