Urras Nan Gearrannan - Charities report

REGISTERED COMPANY NUMBER: SC125734 (Scotland)

REGISTERED CHARITY NUMBER: SC020139

Report of the Trustees and

Financial Statements for the Year Ended 30 April 2025

for

URRAS NAN GEARRANNAN

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

14

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The company's objects are the restoration of historical houses at Garenin, Isle of Lewis. These are now rented to Gearrannan Village Limited and the company is in receipt of rental income from this source.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The maintenance of the blackhouses, intreriors, exteriors and surrounds continues from year to year.

The "Garenin Gallery", 8 Garenin was purchased by the Trust with a view to converting to additional self-catering accommodation. Preparatory assessments and plans relating to the renovation were carried out. The tenancy of the croft 8 Garenin was included in the purchase.

Water ingress to the kitchen area of Taigh Làta necessitated substantial intervention, with repairs to the drainage, stonework and thatch.

The annual service of the wind turbines was undertaken by Energee Ltd.

FINANCIAL REVIEW

Reserves policy

The Trustees continue to maintain the buildings to ensure that they are fit for purpose. Plans continue for the Laundry, Store, Taigh Thormoid 'an 'ic Iain building and Taigh Lata to be thatched with reeds. The newly purchased gallery will be converted to self-catering accommodation.

FUTURE PLANS

The Trustees continue to maintain the buildings to ensure that they are fit for purpose.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

The organisation is a charitable company limited by guarantee, incorporated on 21 June 1990 and registered as a Scottish charity. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

Gearrannan can have fifteen directors of which nine are nominated and six are elected at the AGM. Carloway Historical Society, Carloway Community Association and Comhairle Nan Eilean Siar can nominate two each and The Lews Castle College, Scottish Natural Heritage and Western Isles Enterprise can nominate one each.

One third of directors are required to retire each year. The board may appoint an ordinary member as an ordinary director to fill a casual vacancy or be additional to the Board provided that the number of ordinary directors does not exceed six.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC125734 (Scotland)

Registered Charity number

SC020139

Registered office

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

Trustees

I D M Macleod

I Macarthur

M M Macritchie

A Campbell

D Macleod

A MacDonald

K Macaskill

K A Macritchie

A Macaskill

N A Ingram

Company Secretary

D Macleod

Independent Examiner

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Urras Nan Gearrannan for the purposes of company law) are responsible for preparing the Report of the Trustees 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those 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;

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

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 9 December 2025 and signed on its behalf by:

A MacDonald - Trustee

I report on the accounts for the year ended 30 April 2025 set out on pages five to fourteen.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention :

(1)	which gives me reasonable cause to believe that, in any material respect, the requirements

-	to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

-	to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

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

Andrew Cumming

The Institute of Chartered Accountants of Scotland

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

9 December 2025

30.4.25

30.4.24

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

73,079

-

73,079

62,822

Other trading activities

3

18,661

(1

)

18,660

6,787

Total

91,740

(1

)

91,739

69,609

EXPENDITURE ON

Charitable activities

44,776

-

44,776

69,464

Depreciation

4,646

14,190

18,836

16,836

Governance costs

1,082

-

1,082

2,839

Total

50,504

14,190

64,694

89,139

NET INCOME/(EXPENDITURE)

41,236

(14,191

)

27,045

(19,530

)

RECONCILIATION OF FUNDS

Total funds brought forward

381,091

959,205

1,340,296

1,359,826

TOTAL FUNDS CARRIED FORWARD

422,327

945,014

1,367,341

1,340,296

30.4.25

30.4.24

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

7

224,868

945,016

1,169,884

1,032,479

Investments

8

2

-

2

224,870

945,016

1,169,886

1,032,481

CURRENT ASSETS

Debtors

9

73,636

-

73,636

34,088

Cash at bank

124,605

-

124,605

274,511

198,241

-

198,241

308,599

CREDITORS

Amounts falling due within one year

10

(785

)

(1

)

(786

)

(784

)

NET CURRENT ASSETS

197,456

(1

)

197,455

307,815

TOTAL ASSETS LESS CURRENT
LIABILITIES

422,326

945,015

1,367,341

1,340,296

NET ASSETS

422,326

945,015

1,367,341

1,340,296

FUNDS

11

Unrestricted funds

422,326

381,091

Restricted funds

945,015

959,205

TOTAL FUNDS

1,367,341

1,340,296

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 9 December 2025 and were signed on its behalf by:

I D M Macleod - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The presentation currency of the accounts is Pound sterling (£). The accounts are rounded to the nearest £1.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and leasehold buildings

-

2% depreciation on cost

Wind turbines

-

4% depreciation on cost

Fixtures and equipment

-

20% depreciation on cost

Motor vehicles

-

20% depreciation on cost

The Trustees have reviewed the depreciation policy of the buildings, which has been to write-off the original cost of the buildings over 50 years. The decision has been taken to cease depreciation on the buildings from 1 May 2019 due to the fact the market value of the buildings would likely be at least equal to the original cost value. The buildings are well maintained and any significant improvements are capitalised and depreciated separately, over 20 years.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

2.	DONATIONS AND LEGACIES

30.4.25

30.4.24

Unrestricted

Restricted

Total

funds

£

Donations

-

40,500

Donation from subsidiary

73,079

-

73,079

22,322

73,079

-

73,079

62,822

3.	OTHER TRADING ACTIVITIES

30.4.25

30.4.24

Unrestricted

Restricted

Total

funds

£

Rent

1,000

-

1,000

Income from Wind Turbines

17,661

(1

)

17,660

5,787

18,661

(1

)

18,660

6,787

4.	NET INCOME/(EXPENDITURE)

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

30.4.25

30.4.24

£

Depreciation - owned assets

18,835

16,837

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

62,822

-

62,822

Other trading activities

6,788

(1

)

6,787

Total

69,610

(1

)

69,609

EXPENDITURE ON

Charitable activities

69,464

-

69,464

Depreciation

2,646

14,190

16,836

Governance costs

2,839

-

2,839

Total

74,949

14,190

89,139

NET INCOME/(EXPENDITURE)

(5,339

)

(14,191

)

(19,530

)

RECONCILIATION OF FUNDS

Total funds brought forward

386,431

973,395

1,359,826

TOTAL FUNDS CARRIED FORWARD

381,092

959,204

1,340,296

7.	TANGIBLE FIXED ASSETS

Land and

Improvements

leasehold

to

Wind

buildings

property

turbines

£

COST

At 1 May 2024

1,342,821

228,144

135,735

Additions

156,240

-

At 30 April 2025

1,499,061

228,144

135,735

DEPRECIATION

At 1 May 2024

527,867

91,329

69,558

Charge for year

-

11,406

5,429

At 30 April 2025

527,867

102,735

74,987

NET BOOK VALUE

At 30 April 2025

971,194

125,409

60,748

At 30 April 2024

814,954

136,815

66,177

Fixtures

and

Motor

equipment

vehicles

Totals

£

COST

At 1 May 2024

88,172

10,000

1,804,872

Additions

-

156,240

At 30 April 2025

88,172

10,000

1,961,112

DEPRECIATION

At 1 May 2024

83,639

-

772,393

Charge for year

-

2,000

18,835

At 30 April 2025

83,639

2,000

791,228

NET BOOK VALUE

At 30 April 2025

4,533

8,000

1,169,884

At 30 April 2024

4,533

10,000

1,032,479

The Trustees have reviewed the depreciation policy of the buildings, which has been to write-off the original cost of the buildings over 50 years. The decision has been taken to cease depreciation on the buildings from 1 May 2019 due to the fact the market value of the buildings would likely be at least equal to the original cost value. The buildings are well maintained and any significant improvements are capitalised and depreciated separately, over 20 years.

8.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 May 2024 and 30 April 2025

2

NET BOOK VALUE

At 30 April 2025

2

At 30 April 2024

2

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Gearrannan Village Limited

Registered office:

Nature of business: Historic tourist attraction

%

Class of share:

holding

Ordinary

100

30.4.25

30.4.24

£

Aggregate capital and reserves

25,917

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

Amounts owed by group undertakings

73,079

22,322

VAT

557

10,766

Accrued income

-

1,000

73,636

34,088

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

Accrued expenses

786

784

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.5.24

in funds

30.4.25

£

Unrestricted funds

General fund

381,091

41,235

422,326

Restricted funds

Capital grants and donations

959,205

(14,190

)

945,015

TOTAL FUNDS

1,340,296

27,045

1,367,341

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

91,740

(50,505

)

41,235

Restricted funds

Capital grants and donations

(1

)

(14,189

)

(14,190

)

TOTAL FUNDS

91,739

(64,694

)

27,045

Comparatives for movement in funds

Net

movement

At

At 1.5.23

in funds

30.4.24

£

Unrestricted funds

General fund

386,431

(5,340

)

381,091

Restricted funds

Capital grants and donations

973,395

(14,190

)

959,205

TOTAL FUNDS

1,359,826

(19,530

)

1,340,296

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

69,610

(74,950

)

(5,340

)

Restricted funds

Capital grants and donations

(1

)

(14,189

)

(14,190

)

TOTAL FUNDS

69,609

(89,139

)

(19,530

)

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

Net

movement

At

At 1.5.23

in funds

30.4.25

£

Unrestricted funds

General fund

386,431

35,895

422,326

Restricted funds

Capital grants and donations

973,395

(28,380

)

945,015

TOTAL FUNDS

1,359,826

7,515

1,367,341

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

161,350

(125,455

)

35,895

Restricted funds

Capital grants and donations

(2

)

(28,378

)

(28,380

)

TOTAL FUNDS

161,348

(153,833

)

7,515

Purpose of funds:

General fund - this fund is used to record all income and expenditure that is not restricted.

Capital grants and donations fund - this is used to record income and expenditure relating to the land and buildings owned by the company, where the income is restricted by the funder.

12.	RELATED PARTY DISCLOSURES

During the year the subsidiary company, Gearrannan Village Limited paid a charitable donation of £73,079 (2024 - £22,322) to its parent company, Urras nan Gearrannan. In addition, rent of £1,000 (2024 - £1,000) was was due to Urras nan Gearrannan, in relation to the operation of the trade from the black houses at Garenin.

Included within debtors falling due within one year is a balance due by Gearrannan Village Limited to the company's parent company, Urras nan Gearrannan, of £73,079 (2024 - £22,322). There are no fixed repayment terms and interest is not charged on the balance.

13.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.