REGISTERED COMPANY NUMBER: SC261145 (Scotland)

REGISTERED CHARITY NUMBER: 035193

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE PAIRC TRUST

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

16

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 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 main objectives of the charity are:-

- to conserve and regenerate the Pairc area of the Isle of Lewis through social and environmental works for the benefit of the Pairc community;

- to relieve poverty and provide help for the aged, handicapped and infirm and to act otherwise for the benefit of persons of all ages and to advance education and other charitable purposes beneficial to the community;

- to provide or promote the provision of housing for people in necessitous circumstances and also specially designed or adapted housing as may be required for handicapped or disabled or infirm persons of any age;

- to develop or promote the development of infrastructure for the benefit of the general public and the community to improve communications and related facilities throughout the Pairc area including piers, harbours, roads and bridges provided always that any development or encouragement of such infrastructure and communications does not relieve the local authority of its statutory obligations.

- to provide or advance the accessibility of recreational, facilities, and/or organising recreational activities, which will be available to members of the Community and public at large with the object of improving the conditions of life of the Community

- the advancement of citizenship or Community development, including rural or urban regeneration.

- To advance the provisions for educational opportunities in the Community relating to environment, culture, heritage and/or history

- To advance environmental protection or improvement including preservation, sustainable development and conservation of the natural environment, the maintenance, improvement or provision of environmental amenities for the Community and/or the preservation of buildings or sites of architectural, historic or other importance to the Community;

Significant activities

The Pairc Trust employs a full time Estate Manager who maintains the processes to effectively manage the Estate which includes managing the crofting administration in-house as well as exploring new development and income-generating opportunities with the Project Manager to benefit the people of Pairc. The Trust also employs a part time Project Manager and Administration and Communications Assistant to assist with all aspects of the Estate's portfolio of projects and administration work.

Volunteers

The contribution of volunteers (including directors, members and individuals from the community) has been, and continues to be, of immense benefit to the charity.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During the year the charity:

- Continued to operate key subgroups in the areas of Crofting/Renewables, Property, Tourism, Projects and Finance and welcomed new directors onto the board.

- Continued to factor the Estate in house, with legal support from Lindsay's LLP, the Trust also dealt with all crofting

issues as they arose.

- Continued with negotiations and reviewed the leases of current and prospective lease holders on the Estate.

- Published the first Pairc newsletter in May 2024, with a monthly newsletter now going out highlighting local events, projects, news, and success stories from around the Estate and wider area.

- Continued with the Taigh Ceilidh project and was successful with feasibility funding to move the project forward with Tighean Innse Gall (TIG).

- Commissioned Muirneag Consulting to conduct a Greenhouse Gas Audit of the Pairc Trust.

- Met with Scottish Futures Trust to discuss solutions for “not spots” in Pairc and alternative connectivity options.

- Met with NatureScot to progress the Pairc Landscape Project.

- Began initial conversations with architects to redevelop the Resource Centre into a larger, more versatile space.

- Formally launched the PT/MOWI Community Benefit Fund and since then has funded various projects.

Internal and external factors

The charity is partially dependent upon lease negotiations and the continuing support of public funding agencies to assist in the ongoing delivery of the aims and objectives of the Trust.

FINANCIAL REVIEW

Principal funding sources

The charity employs one member of staff on a full-time basis and two members of staff on a part-time basis. Funding for the posts has come from the Trust's own income from the Estate assets aiming to become a self-sustainable organisation.

Investment policy and objectives

The charity's reserves are maintained in interest bearing bank accounts as the current level of reserves are required to meet the trust's short term operational requirements.

Reserves policy

During the year the charity's outgoings exceeded incoming resources resulting in a deficit of £39,405 for the period (2024 - surplus of £19,739). This represents a decrease in unrestricted reserves of £27,695 (2024 - increase of £32,386) and a decrease on restricted reserves of £11,710 (2024- decrease of £12,647).

FUTURE PLANS

The charity's main objectives over the following year will be to increase its income and progress towards becoming a self-sustainable organisation, whilst improving the quality of life for all residents and crofters in the Estate.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The trust is a charitable company limited by guarantee, incorporated on 19 December 2003 and registered as a charity with effect from 19 December 2003.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law.

Under the terms of the Articles of Association the Elected Directors are appointed by the whole body of members at the Annual General Meeting. One half of the Elected Directors must retire by rotation at every third Annual General Meeting, the last rotation being June 2024. A maximum of 10 Elected Directors may be appointed.

The Board may also invite up to 2 Appointed Directors to encourage collaborative working- an example of an appointed director would be a representative from an elected community body within the district.

The Board may also Co-Opt up to 2 Directors for the duration of a project. An example of a Co-Opted Director would be a professional with the relevant skills required at the time to advance the purposes of the Trust.

Organisational structure

The board consists of voluntary directors who manage the affairs of the charity through regular board meetings. The charity has reviewed its internal operational structure to assist in the effective management of the organisation. The board members are heavily involved in the day to day operations of the charity.

Induction and training of new trustees

The charity undertakes training for trustees to ensure awareness and understanding of:-

- the responsibilities of directors;

- the organisational structure of the charity;

- the financial position of the charity; and

- the future plans and objectives of the charity.

Wider network

The charity has established links with other organisations and agencies to foster the aims and objectives of the organisation.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC261145 (Scotland)

Registered Charity number

035193

Registered office

The Resource Centre

Kershader

Lochs

Isle of Lewis

HS2 9QA

Trustees

A D McDowall (appointed 19.6.24)

K Kennedy (appointed 19.6.24)

J Wilson (resigned 10.12.24)

I N Macleod (appointed 19.6.24)

A C Nicolson (resigned 18.6.24)

J M Matheson (resigned 23.10.25)

Ms J Mclaughlin (appointed 19.6.24) (resigned 22.9.25)

D Nicolson (appointed 19.6.24)

C F Coles (appointed 19.6.24) (resigned 12.5.25)

Z Szalay (appointed 23.9.24)

Appointed Trustee

I Maclennan on behalf of Co-Chomunn na Pairc (resigned 28.02.21)

Company Secretary

Ms E Mackenzie

Independent Examiner

CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS

Bankers

Cooperative Bank

PO Box 250

Delf House

Southway

Skelmersdale

WN8 6WT

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 22 December 2025 and signed on its behalf by:

K Kennedy - Trustee

I report on the accounts for the year ended 31 March 2025 set out on pages five to sixteen.

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.

John E Moffat BA FCA

The Institute of Chartered Accountants in England and Wales

CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS

22 December 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

1,118

-

1,118

120

Charitable activities

4

Charitable activities

77,454

52,255

129,709

140,823

Investment income

3

2

-

2

2

Total

78,574

52,255

130,829

140,945

EXPENDITURE ON

Charitable activities

Charitable activities

121,761

48,709

170,470

121,206

Net gains on investments

236

-

236

-

NET INCOME/(EXPENDITURE)

(42,951

)

3,546

(39,405

)

19,739

Transfers between funds

15

15,256

(15,256

)

-

-

Net movement in funds

(27,695

)

(11,710

)

(39,405

)

19,739

RECONCILIATION OF FUNDS

Total funds brought forward

66,282

894,865

961,147

941,408

TOTAL FUNDS CARRIED FORWARD

38,587

883,155

921,742

961,147

31.3.25

31.3.24

Notes

£

£

FIXED ASSETS

Tangible assets

9

844,021

868,697

Investments

Investments

10

100

100

Investment property

11

28,943

-

873,064

868,797

CURRENT ASSETS

Debtors

12

27,225

29,258

Cash at bank and in hand

51,411

77,968

78,636

107,226

CREDITORS

Amounts falling due within one year

13

(29,958

)

(14,876

)

NET CURRENT ASSETS

48,678

92,350

TOTAL ASSETS LESS CURRENT LIABILITIES

921,742

961,147

NET ASSETS

921,742

961,147

FUNDS

15

Unrestricted funds

38,587

66,282

Restricted funds

883,155

894,865

TOTAL FUNDS

921,742

961,147

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

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

The 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 22 December 2025 and were signed on its behalf by:

K Kennedy - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 2015)', 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.

The financial statements are prepared in sterling which is the functional currency of the charity.

Going concern

The trustees have assessed the charity's ability to continue as a going concern and do not consider there to be any material uncertainties about the charity's ability to continue as a going concern.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions that affect the amounts reported for assets, liabilities, income and expenditure.

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 assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in future periods should it affect future periods.

The estimates and assumptions which carry a higher degree of risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. They are amended when necessary to reflect current estimates, future investment, economic utilisation and the physical condition of the assets. See note 9 for details of the values of tangible fixed assets.

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.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its objects and activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. The allocation of direct and support costs are analysed in the notes to the financial statements.

Governance costs

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs linked to the strategic management of the charity.

Allocation and apportionment of costs

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. estimated usage.

Tangible fixed assets

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

Land & Buildings

-

2% on cost and no depreciation on land

Office equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

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.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

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

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

£

Donations

1,118

120

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Interest on taxes

2

2

All investment income arises from assets held within the UK.

4.	INCOME FROM CHARITABLE ACTIVITIES

31.3.25

31.3.24

Activity

£

£

Rental

Charitable activities

67,287

126,528

Wayleaves

Charitable activities

2,487

2,289

Land sales

Charitable activities

2,000

1,000

Grants

Charitable activities

52,935

6,160

Employment Allowance

Charitable activities

5,000

4,846

129,709

140,823

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

£

Comhairle nan Eilean Siar

14,760

-

Community Land Scotland

300

300

Third Sector Hebrides

5,000

-

Muaitheabhal Community Windfarm Trust

10,000

2,500

Mowi Community Benefit Fund

6,000

3,000

UHI Outer Hebrides

600

-

DTA Scotland

680

360

Co-Chomunn na Pairc

14,595

-

Climate Hebrides

1,000

-

52,935

6,160

5.	NET INCOME/(EXPENDITURE)

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

31.3.25

31.3.24

£

£

Depreciation - owned assets

10,223

9,771

6.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

During the year, the charity paid travel expenses totalling £836.49 for three trustees. (2024 - £NIL )

7.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.25

31.3.24

Charitable activities

3

2

No employees received emoluments in excess of £60,000.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

120

-

120

Charitable activities

Charitable activities

134,663

6,160

140,823

Investment income

2

-

2

Total

134,785

6,160

140,945

EXPENDITURE ON

Charitable activities

Charitable activities

102,399

18,807

121,206

NET INCOME/(EXPENDITURE)

32,386

(12,647

)

19,739

RECONCILIATION OF FUNDS

Total funds brought forward

33,896

907,512

941,408

TOTAL FUNDS CARRIED FORWARD

66,282

894,865

961,147

9.	TANGIBLE FIXED ASSETS

Fixtures

Land &

and

Office

Buildings

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

897,257

998

14,396

912,651

Additions

-

-

1,054

1,054

Disposals

(15,743

)

(998

)

-

(16,741

)

At 31 March 2025

881,514

-

15,450

896,964

DEPRECIATION

At 1 April 2024

34,399

998

8,557

43,954

Charge for year

7,630

-

2,593

10,223

Eliminated on disposal

(236

)

(998

)

-

(1,234

)

At 31 March 2025

41,793

-

11,150

52,943

NET BOOK VALUE

At 31 March 2025

839,721

-

4,300

844,021

At 31 March 2024

862,858

-

5,839

868,697

10.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 April 2024 and 31 March 2025

100

NET BOOK VALUE

At 31 March 2025

100

At 31 March 2024

100

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:

Pairc Trading Limited

Registered office:

Nature of business: Dormant

%

Class of share:

holding

Ordinary

100

11.	INVESTMENT PROPERTY

£

FAIR VALUE

Additions

28,943

At 31 March 2025

28,943

NET BOOK VALUE

At 31 March 2025

28,943

At 31 March 2024

-

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

24,225

158

Grants receivable

3,000

-

Prepayments and accrued income

-

29,100

27,225

29,258

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

2,796

96

Social security and other taxes

-

580

VAT

3,780

5,193

Other creditors

1,409

-

Deferred income

20,000

3,082

Accrued expenses

1,973

5,925

29,958

14,876

14.	ANALYSIS OF NET ASSETS BETWEEN FUNDS

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

£

£

£

£

Fixed assets

4,536

839,485

844,021

868,697

Investments

100

28,943

29,043

100

Current assets

63,908

14,728

78,636

107,226

Current liabilities

(29,957

)

(1

)

(29,958

)

(14,876

)

38,587

883,155

921,742

961,147

15.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.4.24

in funds

funds

31.3.25

£

£

£

£

Unrestricted funds

General fund

66,282

(42,951

)

15,256

38,587

Restricted funds

Revenue Grants fund

40,597

8,972

(36,027

)

13,542

Capital Grants fund

353,287

(5,630

)

20,771

368,428

Estate Buyout Fund

500,981

-

-

500,981

Community Benefit Fund

-

204

-

204

894,865

3,546

(15,256

)

883,155

TOTAL FUNDS

961,147

(39,405

)

-

921,742

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

78,574

(121,761

)

236

(42,951

)

Restricted funds

Revenue Grants fund

44,255

(35,283

)

-

8,972

Capital Grants fund

2,000

(7,630

)

-

(5,630

)

Community Benefit Fund

6,000

(5,796

)

-

204

52,255

(48,709

)

-

3,546

TOTAL FUNDS

130,829

(170,470

)

236

(39,405

)

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

£

£

Unrestricted funds

General fund

33,896

32,386

66,282

Restricted funds

Revenue Grants fund

45,248

(4,651

)

40,597

Capital Grants fund

361,283

(7,996

)

353,287

Estate Buyout Fund

500,981

-

500,981

907,512

(12,647

)

894,865

TOTAL FUNDS

941,408

19,739

961,147