REGISTERED COMPANY NUMBER: SC576731 (Scotland)

REGISTERED CHARITY NUMBER: SC47866

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2026

for

ACAIR

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

15

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 2026. 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 objectives of Acair are to carry on in the United Kingdom and elsewhere the advancement of education, arts, heritage and culture for public benefit and with charitable purposes whether by itself or through subsidiary or associated companies or firms or promoters, publishers, proprietors and commissioners of educational and general material in Gaelic and any other language for the purposes of education, instruction, information and recreation and for use in schools, colleges, libraries and elsewhere, in the form of books and associated literary merchandising that can be accessed by any member of the public.

Background

Acair was established as a Company Limited by Guarantee and not having a share capital on 19 September 2017 and gained charitable status on 27 October 2017. The Company was dormant until 31 March 2018 and commenced operations on 1 April 2018.

When operations commenced on 1 April 2018, the shares in ACAIRBOOKS LTD (Company number SC063662) previously held by various individuals and corporate bodies were donated to the charity. There are 14,000 issued shares with a nominal value of £1 each.

When operations commenced on 1 April 2018, the trade of ACAIRBOOKS LTD in the sum of £137,516 was transferred to the charity. This included the transfer of the employees under TUPE arrangements. In addition, the net assets were donated. ACAIRBOOKS LTD ceased trading on 30 November 2018, having originally been incorporated on 13 December 1977.

On 25 February 2020, ACAIRBOOKS LTD was dissolved. This meant that the £14,000 investment in the share capital was removed from the balance sheet of the charity.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During the twelve-month period to 31 March 2026, the charitable company has published 24 new books, 16 of which were children's Gaelic books in translation which were prepared as part of a partnership with the Scottish Book Trust. These books were given to children as part of the Scottish Book Trust's BookBug and Read, Write, Count schemes. There were also three new original Gaelic books for children published: Seachdain Seunta by Cathy Mary Macmillan and Èiginn Ùisdein by Mòrag Anna MacNeil. Rèis Mhòr Craobh na Nollaig was published in Gaelic as a co-edition. A number of children's audio books have also been made available for free download from the Acair website.

Acair published five new books for adults: two in English, two in English. Those were, respectively: Travels in Another Country; A Guide to Gaelic Scotland by Coinneach Maclean, In the Shadow of The Laird by Judith Napier, Soraidh Slàn le Hallaig by Maoilios Caimbeul, Fo Fhasgadh Bheinn Chianabhail by Mòrag Anna MacNeil agus Ceum by John D. Urquhart.

There have also been 14 reprints of popular books, 11 of which were Gaelic and 2 bilingual and 1 in English. These reprints were for titles where stock was running low, including two large orders of the children's originations for a specific Stòrlann order. Acair also published for the first time an edition in paperback of Women of the Hebrides/Ban-eileanaich Innse Gall by Joni Buchanan.

Acair books have won and been shortlisted in various awards. Women of the Hebrides/Ban-eileanaich Innse Gall by Joni Buchanan and Somhairle MacGill-Eain na Bhriathran Fhèin, edited by Jo MacDonald, Màiri Sìne Campbell and Ishbel Maclean, were longlisted for Research Book of the Year in the Saltire Society Awards, with Somhairle MacGill-Eain na Bhriathran Fhèin making the shortlist. At the Gaelic Literature Awards Women of the Hebrides/Ban-eileanaich Innse Gall won the Donald Meek Award for Best Non-fiction Book, with Somhairle MacGill-Eain na Bhriathran Fhèin highly commended. Tìgear an Iomagain won the award for Best Children's Book, with Na Còig Mathain highly commended. Women of the Hebrides also won the award for Best Adult Book at the Royal National Mod and it was shortlisted for the Highland Book Prize 2024. An Staran by Petra Poncarova was shortlisted for the Highland Book Prize 2025. Acair have 6 titles shortlisted for Na Duaisean Litreachais 2026.

The charity also organised and attended various events in order to promote books and encourage book sales, including liaising with book festivals.

Acair hosted 2 placements during the period and this was mutually beneficial to the charity and to the students.

Acair has continued to collaborate with Comhairle nan Leabhraichean, including on a new series of Gaelic fiction entitled Feuch Ficsean. The charity also works closely with Bòrd na Gàidhlig as one of the Bòrd's Delivery Partners.

It remains a challenging financial climate with costs generally having risen, printing, postage and haulage costs in particular. Nevertheless, Acair has continued to work towards publishing quality literature, seeking best value in all its operations and looking for sources of funding wherever appropriate. There are many projects in the schedule and we look forward with optimism to bringing these to publication.

Mid-Febuary Acair's Marketing and Communications Officer departed the organisation and their Publishing Assistant retired at the end of March. This left staffing stretched. Acair recruited a Marketing and Communications Officer who joined the staff in June 2026, having worked previously with the organisation. There was a short handover period with the Acair Manager and the Marketing and Comms Officer. Angus Morrison, Acair Manager, very sadly passed away in July 2026 after a period of illness. The Acair staff continue to progress the projects in the Production Schedule as well as new projects throughout this period of change. Angus is very much missed and this is a big adjustment for the staff.

FINANCIAL REVIEW

Financial position

The income and property of the charitable company is applied solely towards the promotion of the company's objects and charitable purposes.

Total income for the year ending 31 March 2026 was £306,012 (2025 - £252,832) against expenditure of £261,816 (2025 - £269,746) resulting in a net surplus of £44,196 (2025 - deficit of £16,914).

The final reserves held at the end of the year were £187,500 of which £31,235 were restricted funds (2025 - £143,394 of which £27,852 were restricted).

Reserves policy

At its meeting on 13 February 2019, the Board agreed to have a reserve policy which aims to hold in reserve the equivalent of six months running costs.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

The charitable company was incorporated on 19 September 2017 and commenced trading on 1 April 2018.

Recruitment and appointment of new trustees

Membership is open to anyone with an interest or experience in education, arts, heritage, culture, Gaelic publishing and the advancement of the Gaelic language. Employees of the company shall not be eligible for membership; a person who becomes an employee of the company after admission to membership shall automatically cease to be a member.

A person shall not be eligible for election/appointment as a director unless he/she is a member of the company.

The election of directors is undertaken by members of the charitable company at an Annual General Meeting.

Organisational structure

Day to day decision making is delegated to the manager.

Strategic decisions and also decisions relating to which publications to proceed with are made at the quarterly board meetings.

Risk management

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

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC576731 (Scotland)

Registered Charity number

SC47866

Registered office

An Tosgan

Seaforth Road

Stornoway

Isle of Lewis

HS1 2SD

Trustees

Joan Morrison Mackinnon

Margaret Maclennan

Donald Iain Macdonald

Annella Macarthur

Mairi Buchanan

Emma Lamont Director

Dolina Mackay Director

Independent Examiner

Andrew Cumming

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Acair for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

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

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

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

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

Approved by order of the board of trustees on 3 September 2026 and signed on its behalf by:

Joan Morrison Mackinnon - Trustee

I report on the accounts for the year ended 31 March 2026 set out on pages six to fifteen.

Respective responsibilities of trustees and examiner

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

Basis of the independent examiner's report

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

Independent examiner's statement

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

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

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

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

have not been met; or

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

Andrew Cumming

The Institute of Chartered Accountants of Scotland

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

3 September 2026

31.3.26

31.3.25

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

-

-

-

88

Charitable activities

4

Charitable activities

233,500

72,229

305,729

252,318

Investment income

3

283

-

283

426

Total

233,783

72,229

306,012

252,832

EXPENDITURE ON

Charitable activities

5

Charitable activities

192,970

68,846

261,816

269,746

NET INCOME/(EXPENDITURE)

40,813

3,383

44,196

(16,914

)

RECONCILIATION OF FUNDS

Total funds brought forward

115,542

27,852

143,394

160,308

TOTAL FUNDS CARRIED FORWARD

156,355

31,235

187,590

143,394

31.3.26

31.3.25

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

CURRENT ASSETS

Stocks

11

114,140

-

114,140

102,334

Debtors

12

11,456

-

11,456

9,353

Cash at bank and in hand

46,554

31,235

77,789

58,560

172,150

31,235

203,385

170,247

CREDITORS

Amounts falling due within one year

13

(15,795

)

-

(15,795

)

(26,853

)

NET CURRENT ASSETS

156,355

31,235

187,590

143,394

TOTAL ASSETS LESS CURRENT LIABILITIES

156,355

31,235

187,590

143,394

NET ASSETS

156,355

31,235

187,590

143,394

FUNDS

14

Unrestricted funds

156,355

115,542

Restricted funds

31,235

27,852

TOTAL FUNDS

187,590

143,394

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 3 September 2026 and were signed on its behalf by:

Donald Iain Macdonald - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

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

•

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

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Acair as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Consolidated income for the group is less than £500,000. Therefore consolidated accounts are not required to be prepared.

Income

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

Expenditure

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

Tangible fixed assets

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

Fixtures and fittings

-

20% depreciation on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

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

Fund accounting

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

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

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

31.3.26

31.3.25

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

£

£

£

£

Donations

-

-

-

88

3.	INVESTMENT INCOME

31.3.26

31.3.25

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

£

£

£

£

Deposit account interest

283

-

283

426

4.	INCOME FROM CHARITABLE ACTIVITIES

31.3.26

31.3.25

Activity

£

£

Grants

Charitable activities

148,248

110,945

Sales

Charitable activities

154,060

139,512

Copyright and Royalty income

Charitable activities

1,832

530

Other income

Charitable activities

1,589

1,331

305,729

252,318

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

31.3.26

31.3.25

£

£

Publishing grants

37,898

43,198

Bord na Gàidhlig

97,300

61,500

Comhairle nan Eilean Siar

-

6,247

NHS Western Isles

13,050

-

148,248

110,945

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

£

£

Charitable activities

256,101

5,715

261,816

6.	SUPPORT COSTS

Governance

costs

£

Charitable activities

5,715

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

8.	STAFF COSTS

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

31.3.26

31.3.25

All staff

6

5

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

9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

88

-

88

Charitable activities

Charitable activities

212,225

40,093

252,318

Investment income

426

-

426

Total

212,739

40,093

252,832

EXPENDITURE ON

Charitable activities

Charitable activities

240,465

29,281

269,746

NET INCOME/(EXPENDITURE)

(27,726

)

10,812

(16,914

)

RECONCILIATION OF FUNDS

Total funds brought forward

143,268

17,040

160,308

TOTAL FUNDS CARRIED FORWARD

115,542

27,852

143,394

10.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2025 and 31 March 2026

4,112

DEPRECIATION

At 1 April 2025 and 31 March 2026

4,112

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

11.

STOCKS

31.3.26

31.3.25

£

£

Work-in-progress

9,255

9,856

Finished goods

104,885

92,478

114,140

102,334

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

5,110

4,356

Other debtors

3,834

2,819

VAT

2,512

2,178

11,456

9,353

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

660

4,130

Credit card account

964

510

Social security and other taxes

1,908

2,027

Wages control accounts

256

381

Accrued expenses

12,007

19,805

15,795

26,853

14.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.25

in funds

31.3.26

£

£

£

Unrestricted funds

General fund

115,542

40,813

156,355

Restricted funds

Publishing

27,852

3,383

31,235

TOTAL FUNDS

143,394

44,196

187,590

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

233,783

(192,970

)

40,813

Restricted funds

Publishing

72,229

(68,846

)

3,383

TOTAL FUNDS

306,012

(261,816

)

44,196

Comparatives for movement in funds

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted fund

143,268

(27,726

)

115,542

Restricted fund

Publishing

17,040

10,812

27,852

TOTAL FUNDS

160,308

(16,914

)

143,394

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

212,739

(240,465

)

(27,726

)

Restricted fund

Publishing

40,093

(29,281

)

10,812

TOTAL FUNDS

252,832

(269,746

)

(16,914

)

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

Net

movement

At

At 1.4.24

in funds

31.3.26

£

£

£

Unrestricted fund

143,268

13,087

156,355

Restricted fund

Publishing

17,040

14,195

31,235

TOTAL FUNDS

160,308

27,282

187,590

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

446,522

(433,435

)

13,087

Restricted fund

Publishing

112,322

(98,127

)

14,195

TOTAL FUNDS

558,844

(531,562

)

27,282

The balance of the restricted funds held at the year end relates to income received for specific publications prior to the year-end which has not yet been spent.

15.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2026.

16.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.