Company registration number SC272756 (Scotland)
Charity registration number SC036807 (Scotland)
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
D J Read
I D Hunt
M Bessell
D Lumsden
Catriona Chambers
J Colyer
D T Haldane
(Appointed 7 February 2025)
M Meiklejohn
(Appointed 7 February 2025)
Charity number (Scotland)
SC036807
Company number
SC272756
Registered office
Farr Community Hall
Inverarnie Park
Inverarnie
Inverness-shire
IV2 6AX
Independent examiner
Rhona Wilson BA, FCCA
MacKenzie Kerr Limited
Chartered Accountants
Redwood
19 Culduthel Road
Inverness
IV2 4AA
Bankers
Virgin Money
40 St Vincent Place
Glasgow
G1 2HL
Investment advisors
Rowan Dartington & Co Ltd
Melville House
18-22 Melville Street
Edinburgh
EH3 7NS
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4 - 5
Balance sheet
6
Notes to the financial statements
7 - 17
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2025
- 1 -

The trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charity was set up by the Strathnairn Community Council to administer on its behalf the community funds emanating from the Farr Windfarm. In addition, the charity now manages funds emanating from Dunmaglass Windfarm, Moy Windfarm, Glen Kyllachy Windfarm, and the Farr Hydro Scheme. In order to achieve this task the charity solicits and receives applications for funding from local residents and groups. It also invests monies not needed immediately for grants in investment funds and bank deposits which give maximum safety and flexibility.

The principal activity of the charity is the promotion of urban or rural regeneration in areas of social and economic deprivation in the Strathnairn Community Council area through award of grants to individuals and groups within this area.

The charity makes such grants as are allowed by the Agreements with Developers and by the Memorandum of Association as approved by the Office of the Scottish Charity Regulator.

Achievements and performance

The grants awarded this year by the charity have been categorised under the headings of General Grants, Education Grants, Renewable Grants, Energy Efficiency Grants, Hardship Grant and Home Heating Grants.

Grants and donations awarded during the year amounted to £644,934 (20 24 - £145,976), with attributable support costs of £17,436 (20 24 - £15,680) and governance costs of £1,800 (20 24 - £1,680).

Financial review

At the end of the financial year, the charitable company had general unrestricted funds of £437,212 (2024 - £893,599), having recorded deficit for the year of £456,387 (2024 - £276,918 surplus). Designated funds at the year end total £643,664 (2024 - £573,578), which includes a revaluation reserve of £166,908 (2024 - £26,734). Restricted funds at the year end total £189,471.

Reserves policy

Included in unrestricted funds is the General Fund which represents the unrestricted funds arising from past operating results. Also included in unrestricted reserves are details of the latest income received from each of the windfarms and the grants made from that income to date. These funds also represent the free reserves of the charity. The charity aims to retain a percentage of its income to build up reserve levels to allow for future strategic investments. This policy will be subject to regular review.

Principal funding sources

The principal funding sources are Developer Contributions paid by the Developers of the Farr, Moy, Dunmaglass, and Glen Kyllachy windfarms and Farr Hydro scheme. These contributions are designed to support local residents, projects and events within the Strathnairn Community Council area.

Investment policy and objectives

The charity adopted a policy of investing its available capital in a selection of unit trusts, bonds, equities and managed funds.

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

STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -

Future plans

The charity will continue to consider and, where appropriate, approve grants.

Structure, governance and management

The charity is controlled by its governing document, its Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Revised Articles of Association were adopted at an Extra-Ordinary General Meeting held on 24 September 2018.

From 24 September 2018, membership of the charity is open to any permanent resident from the area of benefit aged 16 years or over. The management of the company is the responsibility of the trustees, acting as Directors, who are elected under the terms of the Articles of Association. The charity has 142 members.

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

D J Read
I D Hunt
M Bessell
P MacBeth
(Resigned 1 September 2024)
D Lumsden
Catriona Chambers
J Colyer
D T Haldane
(Appointed 7 February 2025)
M Meiklejohn
(Appointed 7 February 2025)

Recruitment and appointment of trustees

The board shall consist of not less than six and not more than twelve trustees. Prior to every fourth annual general meeting, the members may elect any member to be a director using a postal ballot system. The result of the ballot shall be announced at the annual general meeting. The directors may at any time appoint any member to be a director. The board shall stand for a term of 4 years in office. At every fourth annual general meeting, all of the directors shall retire from office but shall then be eligible for re-election.

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

Induction and training of trustees

To make sure any new trustee becomes familiar with all aspects of the Strathnairn Community Benefit Fund Limited, before joining they are provided with a copy of the charity's governing document (Memorandum and Articles of Association) and information about the aims and objectives of the charity. The role and responsibilities of a new trustee should be clearly identified and the level of their commitment clearly agreed to, they will also be provided with a copy of the OSCR's guidance for charity trustees. All new trustees will be offered the opportunity to attend an induction session to understand the current grant award and financial situation and to review the operational and financial documents.

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

M Bessell
Trustee
Dated: 11 March 2026
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
- 3 -

I report on the financial statements of the charity for the year ended 31 August 2025, which are set out on pages 4 to 17.

Respective responsibilities of trustees and examiner

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

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

Basis of independent examiner's statement

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

Independent examiner's statement

In the course of my examination, no matter has come to my attention

1. which gives me reasonable cause to believe that in any material respect the requirements:

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

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

have not been met, or

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

Rhona Wilson BA, FCCA
MacKenzie Kerr Limited
Chartered Accountants
Redwood
19 Culduthel Road
Inverness
IV2 4AA
17 March 2026
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
Current financial year
Unrestricted
Unrestricted
Restricted
Total
Total
funds
funds
funds
general
designated funds
2025
2025
2025
2025
2024
Notes
£
£
£
£
£
Income from:
Windfarm annual payments
2
-
327,932
92,280
420,212
407,118
Investments
3
39,508
-
-
39,508
38,732
Total income
39,508
327,932
92,280
459,720
445,850
Expenditure on:
Investment management fees
4
16,599
-
-
16,599
8,309
Charitable activities
5
396,958
229,552
37,660
664,170
163,336
Total expenditure
413,557
229,552
37,660
680,769
171,645
Net gains/(losses) on investments
9
24,219
-
-
24,219
63,545
Net income/(expenditure)
(349,830)
98,380
54,620
(196,830)
337,750
Transfers between funds
(106,557)
(28,294)
134,851
-
-
Net movement in funds
(456,387)
70,086
189,471
(196,830)
337,750
Reconciliation of funds:
Fund balances at 1 September 2024
893,599
573,578
-
1,467,177
1,129,427
Fund balances at 31 August 2025
437,212
643,664
189,471
1,270,347
1,467,177

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

STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -
Prior financial year
Unrestricted
Unrestricted
Total
funds
funds
general
designated funds
2024
2024
2024
Notes
£
£
£
Income from:
Windfarm annual payments
2
-
407,118
407,118
Investments
3
38,732
-
38,732
Total income
38,732
407,118
445,850
Expenditure on:
Investment management fees
4
8,309
-
8,309
Charitable activities
5
1,147
162,189
163,336
Total expenditure
9,456
162,189
171,645
Net gains/(losses) on investments
9
63,545
-
63,545
Net income
92,821
244,929
337,750
Transfers between funds
184,097
(184,097)
-
Net movement in funds
276,918
60,832
337,750
Reconciliation of funds:
Fund balances at 1 September 2023
616,681
512,746
1,129,427
Fund balances at 31 August 2024
893,599
573,578
1,467,177
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 6 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
11
1,460,312
1,217,152
Current assets
Debtors
12
1,200
815
Cash at bank and in hand
137,065
258,438
138,265
259,253
Creditors: amounts falling due within one year
13
(328,230)
(9,228)
Net current (liabilities)/assets
(189,965)
250,025
Total assets less current liabilities
1,270,347
1,467,177
The funds of the charity
Restricted income funds
14
189,471
-
Unrestricted funds - general
16
437,212
893,599
Unrestricted funds - designated funds
15
643,664
573,578
1,270,347
1,467,177

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025.

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

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

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

The financial statements were approved by the trustees on 27 January 2026
M Bessell
Trustee
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
1
Accounting policies
Charity information

Strathnairn Community Benefit Fund Limited is a private company limited by guarantee incorporated in Scotland. The registered office is Farr Community Hall, Inverarnie Park, Inverarnie, Inverness-shire, IV2 6AX.

1.1
Basis of preparation

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

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

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

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date, current liabilities exceed current assets by £189,965. This relates to a grant approved to Farr Community Hall, which will become payable as the work being carried out to the hall progresses.

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 for use at the discretion of the trustees in furtherance of their charitable objectives.

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

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
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 tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income from investments is included in the SOFA in the period in which it is received.

STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies (Continued)
- 8 -
1.5
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.

Raising funds

The cost of generating funds are those costs attributable to generating incoming resources for the charity, other than those costs incurred in undertaking charitable activities.

Governance costs

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

Allocation an apportionment of costs

Support costs have been apportioned to charitable activities on the basis of the percentage of the activity to the total charitable activity.

1.6
Fixed asset investments

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

1.7
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.

1.8
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.

STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies (Continued)
- 9 -
Basic financial liabilities

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

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

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

Derecognition of financial liabilities

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

1.9
Taxation

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

2
Income from windfarm annual payments
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
designated funds
designated funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
327,932
92,280
420,212
407,118
-
407,118
Donations and gifts
Farr Windfarm (Ventient)
136,536
-
136,536
132,027
-
132,027
Dunmaglass Windfarm (SSE)
94,098
-
94,098
90,886
-
90,886
Farr Hydro (FLS)
3,833
-
3,833
3,725
-
3,725
Moy Windfarm (ENECO)
93,465
-
93,465
91,009
-
91,009
Glen Kyllachy Windfarm
-
92,280
92,280
89,471
-
89,471
327,932
92,280
420,212
407,118
-
407,118
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 10 -
3
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Income from listed investments
33,513
31,583
Interest receivable
5,995
7,149
39,508
38,732
4
Expenditure on investment management fees
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Investment management fees
16,599
8,309
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 11 -
5
Expenditure on charitable activities
General grants
Education grants
Renewable grants
Energy efficiency grants
Hardship grants
Home heating grants
Total
2025
2025
2025
2025
2025
2025
2025
£
£
£
£
£
£
£
Direct costs
Grants to institutions
599,317
-
-
-
-
-
599,317
Grants to individuals
-
31,525
2,500
1,350
892
9,350
45,617
599,317
31,525
2,500
1,350
892
9,350
644,934
Share of support and governance costs (see note 6)
Support
16,203
852
67
37
24
253
17,436
Governance
1,673
88
7
4
2
26
1,800
617,193
32,465
2,574
1,391
918
9,629
664,170
Analysis by fund
Unrestricted funds - general
395,598
940
74
41
26
279
396,958
Unrestricted funds - designated funds
184,827
31,525
2,500
1,350
-
9,350
229,552
Restricted funds
36,768
-
-
-
892
-
37,660
617,193
32,465
2,574
1,391
918
9,629
664,170
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
5
Expenditure on charitable activities (Continued)
- 12 -
Previous year:
General grants
Education grants
Renewable grants
Energy efficiency grants
Hardship grants
Home heating grants
Total
2024
2024
2024
2024
2024
2024
2024
£
£
£
£
£
£
£
Direct costs
Grants to institutions
95,403
-
-
-
-
-
95,403
Grants to individuals
-
28,300
6,274
3,000
649
12,350
50,573
95,403
28,300
6,274
3,000
649
12,350
145,976
Share of support and governance costs (see note 6)
Support
10,247
3,040
674
322
70
1,327
15,680
Governance
1,098
326
72
35
7
142
1,680
106,748
31,666
7,020
3,357
726
13,819
163,336
Analysis by fund
Unrestricted funds - general
(4,868)
3,366
746
357
77
1,469
1,147
Unrestricted funds - designated funds
111,616
28,300
6,274
3,000
649
12,350
162,189
106,748
31,666
7,020
3,357
726
13,819
163,336
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 13 -
6
Support costs allocated to activities
2025
2024
£
£
Secretariat services
14,376
12,656
Insurance
1,057
976
Postage, stationery, advertising and printing
1,870
1,918
Bank charges
133
130
Governance costs
1,800
1,680
19,236
17,360
Analysed between:
General grants
17,876
11,345
Education grants
940
3,366
Renewable grants
74
746
Energy efficiency grants
41
357
Hardship grants
26
77
Home heating grants
279
1,469
19,236
17,360
2025
2024
Governance costs comprise:
£
£
Independent examination
1,800
1,680
1,800
1,680
7
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8
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.
Remuneration of key management personnel

No remuneration was paid to key management personnel.

STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 14 -
9
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
2025
2024
Gains/(losses) arising on:
£
£
Revaluation of investments
23,601
56,201
Sale of investments
618
7,344
24,219
63,545
10
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

11
Fixed asset investments
Listed investments
Cash in portfolio
Total
£
£
£
Cost or valuation
At 1 September 2024
1,183,599
33,553
1,217,152
Additions
330,279
395,503
725,782
Valuation changes
23,601
-
23,601
Disposals
(159,985)
(346,238)
(506,223)
At 31 August 2025
1,377,494
82,818
1,460,312
Carrying amount
At 31 August 2025
1,377,494
82,818
1,460,312
At 31 August 2024
1,183,599
33,553
1,217,152
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Prepayments and accrued income
1,200
815
13
Creditors: amounts falling due within one year
2025
2024
£
£
Sundry creditors
1,239
1,168
Accruals and deferred income
326,991
8,060
328,230
9,228
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 15 -
14
Restricted funds

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

At 1 September 2024
Incoming resources
Resources expended
Transfers
At 31 August 2025
£
£
£
£
£
Glen Kyllachy Windfarm
-
92,280
(37,660)
134,851
189,471

Purpose of funds

Glen Kyllachy Windfarm

Income attributed to this windfarm. For use of charitable, educational, environmental and/or community purposes for the benefit of residents of the area of benefit in accordance with the funds charitable principals.

15
Unrestricted funds - designated funds

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

At 1 September 2024
Incoming resources
Resources expended
Transfers
At 31 August 2025
£
£
£
£
£
Revaluation reserve
26,734
-
-
140,174
166,908
Dunmaglass Windfarm (SSE)
61,980
94,098
(92,637)
(7,528)
55,913
Farr Windfarm (Ventient)
190,121
136,536
(19,728)
(10,923)
296,006
Moy Windfarm (ENECO)
136,938
93,465
(117,187)
(7,477)
105,739
Farr Hydro (FLS)
15,572
3,833
-
(307)
19,098
Glen Kyllachy Windfarm
142,233
-
-
(142,233)
-
573,578
327,932
(229,552)
(28,294)
643,664
Previous year:
At 1 September 2023
Incoming resources
Resources expended
Transfers
At 31 August 2024
£
£
£
£
£
Revaluation reserve
178,262
-
-
(151,528)
26,734
Dunmaglass Windfarm (SSE)
46,982
90,886
(68,617)
(7,271)
61,980
Farr Windfarm (Ventient)
100,852
132,027
(32,197)
(10,561)
190,121
Moy Windfarm (ENECO)
111,882
91,009
(58,672)
(7,281)
136,938
Farr Hydro (FLS)
12,145
3,725
-
(298)
15,572
Glen Kyllachy Windfarm
62,623
89,471
(2,703)
(7,158)
142,233
512,746
407,118
(162,189)
(184,097)
573,578
STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
15
Unrestricted funds - designated funds (Continued)
- 16 -

Purpose of funds

Dunmaglass Windfarm (SSE)

Income attributed to this windfarm. For use of community groups and not-for-profit entities, including individuals who operate in the area of benefit. Used to support local environmental, educational, sporting, amenity or other appropriate initiatives which are consistent with the principals of environmental projects, community based projects, charitable trusts, clubs or societies.

Farr Windfarm (Ventient)

Income attributed to this windfarm. For use of community groups and not-for-profit entities, including individuals who operate in the area of benefit. Used to support local environmental, educational, energy efficiency measures, tourism or recreational activities and charitable activities, providing all sums expended are for the benefit of the local area.

Moy Windfarm (ENECO)

Income attributed to this windfarm. For use of community groups or projects which have a future long term benefit for the community. To include individuals who operate in the area of benefit for the purposes of educational, energy efficiency, or renewable energy measures.

Farr Hydro (FLS)

Income attributed to this Hydro scheme. For use of community groups and not-for-profit entities who operate in the area of benefit. Used to support local environmental, energy, educational or other appropriate initiatives which are consistent with the principals of environmental projects, community based projects, charitable trusts, clubs or societies.

Revaluation reserve

The revaluation reserve reflects the increase in the market value of investments held at the balance sheet date over their original cost.

16
Unrestricted funds - general funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d.

At 1 September 2024
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 August 2025
£
£
£
£
£
£
General funds
893,599
39,508
(413,557)
(106,557)
24,219
437,212
Previous year:
At 1 September 2023
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 August 2024
£
£
£
£
£
£
General funds
616,681
38,732
(9,456)
184,097
63,545
893,599

Purpose of funds

General fund

Unrestricted funds to meet the financial objectives of the trust as set out in the report of the trustees.

STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
16
Unrestricted funds - general funds (Continued)
- 17 -

Transfer of funds

A transfer of fund of £142,233 was made between designated funds and restricted funds to show Glen Kyllachy as a restricted fund as per the Community Fund Agreement.

A transfer of funds of £140,174 (2024 - £151,528 decrease) has been made between the general fund and the revaluation reserve to reflect the amount by which the fair value of the investments exceeds the cost of the investments held at the year end.

A transfer based on 8% of income is made from the windfarm funds to the general fund as a contribution towards support costs, totalling £33,617 (2024 - £32,569).

17
Analysis of net assets between funds
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
general
designated funds
2025
2025
2025
2025
£
£
£
£
At 31 August 2025:
Investments
684,780
618,488
157,044
1,460,312
Current assets/(liabilities)
(247,568)
25,176
32,427
(189,965)
437,212
643,664
189,471
1,270,347
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
general
designated funds
2024
2024
2024
2024
£
£
£
£
At 31 August 2024:
Investments
843,599
373,553
-
1,217,152
Current assets/(liabilities)
50,000
200,025
-
250,025
893,599
573,578
-
1,467,177
18
Related party transactions

During the year, 2 trustees (or household members) received education grants totalling £975 (2024 - 2 totalling £1,325) and no trustee (or household member) received a home heating grant totalling £Nil (2024 - £550).

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