Charity Registration No. SC044159 (Scotland)
Company Registration No. SC454209 (Scotland)
ALLT DEARG EDUCATIONAL TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
ALLT DEARG EDUCATIONAL TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
Elaine Barber
Mary Broadfoot
Andrew Large
Sir Jim McDonald
Charity number (Scotland)
SC044159
Company number
SC454209
Principal address
Stronachullin House
Stronachullin
Ardrishaig
Argyll
PA30 8RT
Registered office
The Old Surgery
School Road
Tarbert
Argyll
PA29 6UL
Independent examiner
Iain D C Webster
Goldwells (Argyll) Ltd
The Old Surgery
School Road
Tarbert
ARGYLL
PA29 6UL
Bankers
The Co-operative Bank
PO Box 250
Delf House
Southway
Skelmersdale
WN8 6WT
ALLT DEARG EDUCATIONAL TRUST
CONTENTS
Page
Directors' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Statement of financial position
5
Notes to the financial statements
6 - 12
ALLT DEARG EDUCATIONAL TRUST
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2025
- 1 -
The Directors presents it's report and accounts for the year ended 31 July 2025.

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

Objectives and activities

The Trust's objects are set out in the Memorandum and Articles of Association and are to seek the advancement of education of young people originating from Argyll and Bute, who are in full-time further education and are living away from their parental home by the provision of bursaries and other support. In providing such bursaries and support, the trust will:

1. prioritise the available support to young people from the primary areas adjacent to the Allt Dearg Community Wind Farm as first priority, then young people from the secondary areas as second priority, thereafter the scheme is open to all young people in Argyll and Bute;

2. take account of the family and economic circumstances of the young people, and shall prioritise support to those young people, for whom the provision of such support would be a material factor in overcoming a reluctance or financial inability to pursue tertiary education;

3. take account of the nature of the tertiary education being pursued by the young person, and shall prioritise support for those studying courses of noted academic and vocational value;

4. take account of the character and educational potential of the young people, and shall prioritise support to those young people who are most likely to achieve and benefit from such educational opportunity; and

5. satisfy itself on an annual basis, that the support provided is being properly employed to support the Trust objectives.

The Directors have paid due regard to guidance issued by OSCR in deciding what activities the Trust should undertake.

Achievements and performance

During the year the Trust received donations from the partners of the Allt Dearg Community Wind Farm totalling £43,254 and Sondoire Community Wind Farm totalling £24,330. Gift Aid of £5,223 is also recoverable on some of these donations.

2024-25 was our twelfth year of operation. Allt Dearg Educational Trust has now supported 261 individual young people, and has paid 602 annual grants totalling over £620,000. Thank you to Allt Dearg Community Windfarm and Srondoire Community Windfarm, who provide 100% of the funds via annual donations.

In our twelfth year we received 34 applications. Of these we awarded grants to 31 young people totalling £34,800 and we expect to support them throughout their course. We also had continuing awards to 33 young people amounting to £35,910.

Priority is given to applications from young people whose homes are adjacent to the windfarms.

ALLT DEARG EDUCATIONAL TRUST
DIRECTORS' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2025
- 2 -
Financial review

It is the policy of Trust that funds should be maintained at a level to meet the short-term anticipated expenditure needs with the contingent commitments being met out of anticipated future donations from the Allt Dearg and Srondoire wind farms.

The Trust ensures that all funding to further the aims of the Trust contains an element of funding to contribute towards Trust expenses.

The Trust is registered for Gift Aid from subscriptions and donations.

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

Structure, governance and management
The Trust is a company limited by guarantee and having no share capital, recognised by HM Revenue & Customs as a Scottish Charity. The Trust's management is carried out by the relevant directors to achieve the objectives decided at board meetings.

The Trustees, who are also the directors for the purpose of company law, an d who served during the year were:

Elaine Barber
Mary Broadfoot
Andrew Large
Sir Jim McDonald

Membership is open to any individual who is interested in promoting the objects of the company. Any person who wishes to become a member must sign, and lodge with the company, a written application for membership. The Trustees shall consider each application for membership at the first Trustees' meeting which is held after receipt of the application; the Trustee s shall, within a reasonable time after the meeting, notify the applicant of their decision on the application. The Trustees may, at their discretion, refuse to admit any person to membership.

The Trust's Equal Opportunities policy is implicit in this process.

At each annual general meeting, the members may elect any member (providing he/she is willing to act) to be a Trustee. Trustees shall retire by rotation but may be eligible for re-election. As per the Articles of Association of the Trust the minimum number of Trustees shall be 3 and there is no maximum. A Trustee must be a member.

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

There were no transactions with related parties during the year.

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

Mary Broadfoot
Director
Dated: 1 April 2026
ALLT DEARG EDUCATIONAL TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF ALLT DEARG EDUCATIONAL TRUST
- 3 -

I report on the accounts for the year ended 31 July 2025 set out on pages 4 to 10.

Respective responsibilities of Directors and examiner

The directors, who also act as trustees for the Charitable Trust, 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. The Directors consider that the audit requirement of Regulation 10 (1) (a) to (c) of the Accounts Regulations does not apply.

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 accounts presented within those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the directors concerning any such matters. The proceedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an opinion on the view given by the accounts.
Independent examiner's statement

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

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)
to keep accounting records in accordance with section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
(ii)
to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
have not been met;or
(b)

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

Iain D C Webster CA
Chartered Accountant
The Old Surgery
School Road
Tarbert
ARGYLL
PA29 6UL
Dated: 1 April 2026
ALLT DEARG EDUCATIONAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
- 4 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
-
-
-
20,000
-
20,000
Charitable activities
4
-
72,807
72,807
-
71,595
71,595
Total income
-
72,807
72,807
20,000
71,595
91,595
Expenditure on:
Charitable activities
5
-
71,839
71,839
-
62,289
62,289
Total expenditure
-
71,839
71,839
-
62,289
62,289
Net income and movement in funds
-
968
968
20,000
9,306
29,306
Reconciliation of funds:
Fund balances at 1 August 2024
20,000
41,111
61,111
-
31,805
31,805
Fund balances at 31 July 2025
20,000
42,079
62,079
20,000
41,111
61,111

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

ALLT DEARG EDUCATIONAL TRUST
STATEMENT OF FINANCIAL POSITION
AS AT
31 JULY 2025
31 July 2025
- 5 -
2025
2024
Notes
£
£
£
£
Current assets
Trade and other receivables
12
-
5,915
Cash at bank and in hand
63,207
57,595
63,207
63,510
Current liabilities
13
(1,128)
(2,399)
Net current assets
62,079
61,111
The funds of the Trust
Restricted income funds
14
42,079
41,111
Unrestricted funds
15
20,000
20,000
62,079
61,111

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 July 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 Directors on 1 April 2026
Mary Broadfoot
Sir Jim McDonald
Director
Director
Company registration number SC454209 (Scotland)
ALLT DEARG EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 6 -
1
Accounting policies
Charity information

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

1.1
Accounting convention

The financial statements have been prepared in accordance with the Trust's 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 Trust is a Public Benefit Entity as defined by FRS 102.

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

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

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

1.2
Going concern

At the time of approving the financial statements, the Directors have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors 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 Directors 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 Trust.
1.4
Income
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Grants receivable for use in achieving the Trusts charitable aims are credited to the Statement of Financial Activities (SOFA) in the year in which they are receivable.
ALLT DEARG EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 7 -
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 by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly expended in the SOFA.
Governance costs include the costs or governance arrangements which relate to the general running of the trust.
1.6
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.

1.7
Financial instruments

The Trust 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 Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

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

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ALLT DEARG EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 8 -
Derecognition of financial liabilities

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

2
Critical accounting estimates and judgements

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

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

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
-
20,000
4
Income from charitable activities
Restricted
Restricted
funds
funds
2025
2024
£
£
Donations
Performance related grants
72,807
71,595
ALLT DEARG EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 9 -
5
Expenditure on charitable activities
Educational grants
Educational grants
2025
2024
£
£
Direct costs
Grant funding of activities (see note 6)
70,710
60,950
Share of support and governance costs (see note 7)
Governance
1,129
1,339
71,839
62,289
Analysis by fund
Restricted funds
71,839
62,289
6
Grants payable
Educational Grants
Educational Grants
2025
2024
£
£
Grants to individuals
70,710
60,950
70,710
60,950

Educational grants, of varying amounts, were paid to 61 (20 24 - 67) individuals in the year.

7
Support costs
Support costs
Governance costs
2025
Support costs
Governance costs
2024
£
£
£
£
£
£
Independent examination
-
1,129
1,129
-
1,339
1,339
-
1,129
1,129
-
1,339
1,339
Analysed between
Charitable activities
-
1,129
1,129
-
1,339
1,339
ALLT DEARG EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 10 -
8
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
1,129
1,339
9
Directors
None of the Directors (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
10
Employees

The average monthly number of employees including directors during the year was:

2025
2024
Number
Number
4
4
There were no employees whose annual remuneration was more than £60,000.
11
Taxation

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

12
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
-
5,915
13
Current liabilities
2025
2024
£
£
Trade payables
-
1,060
Accruals and deferred income
1,128
1,339
1,128
2,399
ALLT DEARG EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 11 -
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 August 2024
Incoming resources
Resources expended
At 31 July 2025
£
£
£
£
Allt Dearg Windfarm LLP
41,111
48,477
(47,509)
42,079
Srondoire Windfarm
-
24,330
(24,330)
-
41,111
72,807
(71,839)
42,079
Previous year:
At 1 August 2023
Incoming resources
Resources expended
At 31 July 2024
£
£
£
£
Allt Dearg Windfarm LLP
31,805
47,950
(38,644)
41,111
Srondoire Windfarm
-
23,645
(23,645)
-
31,805
71,595
(62,289)
41,111
15
Unrestricted funds

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

At 1 August 2024
Incoming resources
At 31 July 2025
£
£
£
SSEN Distrubtion donation
20,000
-
20,000
Previous year:
At 1 August 2023
Incoming resources
At 31 July 2024
£
£
£
SSEN Distrubtion donation
-
20,000
20,000
ALLT DEARG EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 12 -
16
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
£
£
£
At 31 July 2025:
Current assets/(liabilities)
20,000
42,079
62,079
20,000
42,079
62,079
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 July 2024:
Current assets/(liabilities)
20,000
41,111
61,111
20,000
41,111
61,111
17
Contingent liabilities

In addition to the grants accrued in Note 5, the Trustees have authorised certain grants (conditional awards) which are subject to recipients fulfilling certain conditions. These conditional grant awards are:

| 2025 £ | 2024 £
Payment possible, due within one year | 49,200 | 42,920
Payment possible, due in more than one year | 54,600 | 48,720
Total contingent liabilities | 103,800 | 91,640

18
Related party transactions

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

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