The trustees present their annual report and financial statements for the year ended 31 December 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 governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
The principal objectives of the company are:
- The advancement of community development in Langholm and the surrounding area which comprises DG13, DG14 and the Newcastleton District Community Council area within TD9 ("the community") by developing and operating community newspapers and community websites;
- The advancement of Heritage by maintaining and archive of local history and making it available to the public.
2024 has seen a successful ‘bedding-in’ process for our new local editor. Now with an emphasis much more on local news wherever possible, positive comments received from the public have welcomed the change to the E&L’s content.
It remains the objective of the board and staff to make the E&L an integral part of community life by continuing to inform, educate and entertain. To this end we intend to introduce free online subscriptions to pupils, and former pupils in higher education, of Langholm Academy to encourage younger reader who may go on to participating in the life of the paper. We will discuss this directly with the school.
Even with the industry-wide reduction in hard copy newspaper sales, our local paper remains the best-selling weekly publication in the Langholm and Eskdale area and even exceeds the best daily sales of any of the national newspapers. We publish over 800 copies of the Eskdale & Liddesdale Advertiser (E&L) each week as well as having over 150 online subscribers, which is an increase of just short of 50% on last year and allows us to achieve an estimated overall readership in excess of 3,000 people.
This level of penetration shows how much the E&L is not only appreciated but is required reading for information on local affairs for an essentially elderly population who prefer the paper to the online word. That said, we will be looking to improve and upgrade our online presence over the next year.
During the year, income of £117,450 was received. Expenditure totalled £94,989. Total reserves at 31st December 2025 stood at £70,371, all of which relate to unrestricted funds.
In the perfect world, we would aim to hold reserves of the equivalent of six months running costs which would be around £50,000.
Obtaining charitable status has helped our fundraising ability and we expect to generate more income through grants and donations in future.
Our plans remain to continually improve the quality and extent of our coverage of news, views, events and activities in the Eskdale and Liddesdale valleys. It is pleasing to note that the number of contributors to the E&L are increasing which will add further diversity to our community reporting.
We are currently working on funding plans and applications to various funders that will help sustain the paper for 3 years from the start of 2026.
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.
OSCR gave Muckle Toon Media Limited permission to become a Charitable Company on 13/12/2021. Previously known as Muckle Toon Media CIC (a Community Interest Company), Muckle Toon Media CIC transferred all of its activities, assets and liabilities from 13/12/2021 to the charity.
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:
We continue to look for new trustees who could help manage the paper and its aims.
The structure of the company consists of:-
The Members - who have the right to attend the annual general meeting (and any other general meeting) and have important powers under the Articles of Association and the Act; in particular, the members elect people to serve as directors and take decisions in relation to changes to the articles themselves.
The Directors - who hold regular meetings during the period between annual general meetings, and generally control and supervise the activities of the company; in particular, the directors are responsible for monitoring the financial position of the company.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 31 December 2025, which are set out on pages 4 to 14.
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.
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.
Since the charity has prepared its financial statements on an accruals basis and is also registered in Scotland, the independent examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006. I confirm that I am qualified to undertake the examination because I am a member of The institute of Chartered Accountants of Scotland, which is one of the listed bodies.
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.
The notes form part of these financial statements
The notes form part of these financial statements
Muckle Toon Media Limited is a private company limited by guarantee incorporated in Scotland. The registered office is Ashleybank House, High Street, Langholm, Dumfriesshire, DG13 0AN, Scotland.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". 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 not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts 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.
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.
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.
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.
Newspaper and advertising sales are recognised when the transaction has taken place. Income received in advance is deferred until the criteria for income recognition are met.
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.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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, 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.
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 payments 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Foundation Scotland - through Crossdykes Community Benefits Limited, towards Hold the Front Page! project. The project will contribute towards the cost of employing a General Manager.
The Stevenson Trust - contribution towards the cost of the general manager post.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
A donation was received from J Hammond Charity Trust, a charity in which J H Hammond is a trustee. The total amount received during the year, without conditions, amounted to £3,000 (2024, £4,000).