## 



|Contents|||||||
|---|---|---|---|---|---|---|
|||||||Page|
|Company<br>information|||||||
|Directors' report|||||||
|Statement<br>of|Directors' responsibilities||||||
|Independent|auditor's|report|||||
|Statement<br>of|financial|activities|incorporating|income and expenditure|account||
|Balance sheet|||||||
|Statement<br>of|cash flows|||||18|
|Notes to the|financial|statements||||19|





## 

|Company<br>inform|Company<br>inform|ation|||||||
|---|---|---|---|---|---|---|---|---|
|Charity name|||Atlantic Salmon Trust||||||
|President|||Earl Percy||||||
|Vice presidents|||Col HFQ Bewsher (resigned 29 September|||||2022)|
||||Mr A Wallace||||||
||||Hon Mrs SV Lopes||||||
||||The Marquess<br>of Hamilton||||||
||||Professor Ken Whelan||(appointed||9 March|2023)|
|Directors|||Mr RP Douglas<br>Miller <br>Mr0 Reeve|(resigned 6|||December 2022)||
||||Mr P Landale||||||
||||Mr RHM Chaplin||||||
||||Mr W Browne-Swinburne|||(resigned|30 March 2023)||
||||Mr GT Wilson (resigned||6 December 2022)||||
||||Mr RA Scott-Dempster||||||
||||Mr W Davies||||||
||||Mr H Eiriksson||||||
||||Ms L Irwin||||||
||||Mr S Barr (appointed|3|May 2022)||||
||||Mr SWD Laird (appointed|||1 July 2022)|||
|Company|secretary||||||||
|Chief Executive Officer|||Mr MA Bilsby —Key Management||||||
|Registered|office||Fishmongers'<br>Hall||||||
||||London||||||
||||EC4R 9EL||||||
|Principal office|||Battleby House||||||
||||Perth||||||
||||PH1 3EW||||||
|Auditors|||Ingela Louise Presslie||||||
||||Senior Statutory<br>Auditor||||||
||||Whitelaw<br>Wells||||||
||||Chartered<br>Accountants||||||
||||9Ainslie Place||||||
||||Edinburgh||||||
||||EH3 6AT||||||
|Bankers|||The Bank of Scotland||||||
||||76 Atholl Road||||||
||||Pitlochry||||||
||||Perthshire||||||
||||PH16 5BW||||||
|Solicitors|||Gillespie Macandrew||||||
||||5 Atholl Crescent||||||
||||Edinburgh||||||
||||EH3 8EJ||||||
|Investment|managers||Waverton<br>Investment|Management|||Limited||
||||16 Babmaes Street||||||
||||London||||||
||||SW1Y 6AH||||||
|Company|registration|number|904293||||||
|Registered|charity number||252742<br>Scottish|||charity number||SC037902|





## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

|Directors induction|Directors induction|Directors induction|and|and|training|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The Directors||have considered<br>a||||policy||||on|Director|||Induction<br>and training<br>prior to new Directors<br>being||
|approached.||This|includes<br>awareness||||||||of|a|Director's<br>responsibilities,<br>the<br>governing<br>document,|||
|administrative||procedures|||and the history|||||and philosophical<br>approach<br>ofthe Trust.<br>A new Director receives||||||
|copies of the||previous||year's financial||||statements,|||||minutes<br>of Directors meetings<br>and a copy of the OSCR|||
|leaflet "Guidance for Charity Trustees||||||||-|acting|||with care and diligence" and Scheme of Delegation<br>for|||the|
|Atlantic<br>Salmon Trust.||||All Directors|||are||required||||to complete a Declaration<br>of Interest form, annually,||to|
|ensure transparency.||||||||||||||||
|Risk Management||||||||||||||||
|The Trustees||consider||risk on a regular|||||basis and||||the|key risks and their management<br>are set out below,||
|Risk|||||Description|||||||||Management||
|Donations||and|||Fluctuating|||||levels|||of|This is being addressed<br>through<br>diversifying||
|Legacies|||||donations||and|||legacies|||to|the income streams<br>for the Trust through<br>the||
||||||support core functions.|||||||||development<br>of new initiatives,<br>this year the||
|||||||||||||||RBSSshoot day along with existing<br>offerings||
|||||||||||||||ofthe Presidents<br>Club, Salmon Club, Auction,||
|||||||||||||||and Corporate<br>Funding.||
|||||||||||||||This is in conjunction<br>with raising the profile of||
|||||||||||||||the Trust to attract more donations.||
|Investment||Returns|||Variability|||of||investment||||This<br>is<br>mitigated<br>by<br>retaining<br>expert||
||||||returns.|||||||||investment<br>managers<br>and<br>having<br>a||
|||||||||||||||diversified<br>investment<br>ortfolio.||
|Project Funding|||||Failure|or||disruption|||||to|The Trust<br>will<br>only proceed<br>with a defined||
||||||project funding.|||||||||project once all funding<br>has been approved.||
|||||||||||||||The new role of Corporate<br>Ambassador<br>will||
|||||||||||||||help<br>the<br>Trust<br>to<br>identify<br>new<br>funding||
|||||||||||||||partners.||
|||||||||||||||The Trust has also employed<br>a Restoration||
|||||||||||||||Director,<br>who joined<br>the Trust<br>in<br>February||
|||||||||||||||2023 who, along<br>with the Research<br>Director||
|||||||||||||||will be working<br>to widen<br>the funding<br>base to||
|||||||||||||||su<br>ort new and existin<br>ro'ects.||
|General|operational||||Governance,|||||long||term-||The Trust developed aScheme of Delegation||
|risks|||||strategy,||processes||||||and|in<br>February<br>2023<br>which<br>sets<br>out<br>the||
||||||framework,||||accountability|||||respective<br>responsibilities<br>of AST Board<br>of||
||||||and<br>compliance||||||||with|Trustees and its Chief Executive Officer||
||||||le islation|||||||||||



## 



## 

## 

## 



## 

## 

## 



## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 




|0<br>e <br>E <br>a|EQ Ut<br> c N<br>e o<br> E N<br> NCo|EQ Ut<br> c N<br>e o<br> E N<br> NCo|||e<br>IO|CDt1C|N <br>N(0<br>N|W||41 CD<br>I<br>cf0<br>Ol<br>CD<br>I<br>UIO<br>O N|41 CD<br>I<br>cf0<br>Ol<br>CD<br>I<br>UIO<br>O N|41 CD<br>I<br>cf0<br>Ol<br>CD<br>I<br>UIO<br>O N|||I<br>N|||0 <br>f<br>CO <br>Ut|co<br>Uf<br> Ul<br> IA<br>(0|(0<br>CD<br>IA<br>(D|(D<br>N<br>CO|fPl<br>41o||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|(4|(Q<br>(4|(4||||||||||||||||||||||||||||
|I—e||||||||||||||||||||||||||||||
|C OUI<br>0 C<br>(4C<br>(4—<br>CD QD<br>O C<br>(4<br>Ql C0||||||'0<br>4)<br>O<br>UE<br>Qt<br>CC|||||||||||||C<br>d<br>(0|Ct<br>N<br>(D|||C<br>Cl<br>(D<br>N||||||(O<br>N<br>N<br>Ut|
||C1|||||||||||||||||||||||||||||
||M<br>O<br>Ql||||||UE0||||||||||||||||IA<br>Ct<br>Ct||cfoo||N<br>CD<br>CD<br>N|||
||Cf|||||||||||||||||||||||||||||
||||C<br>000I|||(I<br>Ql<br>O<br>(4<br>Qt<br>E||||Ot<br>o <br>(0<br>CD <br>OE <br>CD|CD <br> rf<br>I<br> Ut <br> Ol|I<br>CD<br> O|Ot(0<br>N<br>CON<br>IA|||OE<br>EO<br>N<br>CO<br>N<br>EA||e <br>(D<br>Ut|(0<br>N<br>o<br>N|Olo<br>CO||N<br>I<br>N|||Uf<br>CO<br>CD<br>UtNN||Ol<br>CtN||'clC|
||||'0<br>C||Ql0 <br>I-|(D'0<br> C<br> 0|(4 <br>N<br>Ct|W||Nl <br>'Cl'|O <br> (4 <br>cl'|Ot<br> CO<br>c<br> w|N<br>Cl<br>Dl<br>I||Ct<br>CO<br>Ct(4<br>QC|IA<br>Ct||(0<br>Ul<br>ID <br>CO <br>CD|CO<br> N<br> Nl<br> O|CO<br>cf<br>Ct<br>CQ|N<br>Ol||||||N<br>Ul<br>IO<br>IA<br>Ot||CO<br>CD<br>ICt|
||||d)<br>$2.||||||||||||||||Dl|Dl|||||||c|||
||||OC0<br>C<br>mI|||'0<br>ED<br>Cl<br>N<br>QtK|N <br>0C|W||Cto<br>ID<br>QF<br>CQ|||Ct<br>Ct<br>QF<br>N||Ct<br>CO<br>Ct<br>cf|EO<br>CO<br>'cf<br>EO<br>'cf||NO <br>I|N<br>IA<br>Ot<br>(D<br>c|CQ<br>Dl<br>Dl<br>Ct<br>f||CQ<br>IO|||(D<br>tCt||Cl<br>CQ<br>CQ||CO<br>IXt<br>Ct<br>CQ<br>'cf|
||||E00C<br>C|||'0<br>Ql<br>Itlr<br>CD|N'0<br>C||||||||||||||||||||||Ot<br>COI<br>Ct<br>C!|
||||m|||N|||||||||||||||||||||||c|
|||||||ID||||||||||||||||||||||||
||||V)<br>C|||CI||||||||||||||||||||||||
||||00.<br>00C|||l4<br>Ql0<br>M<br>ID<br>C|N'0<br>C|||(O <br>CI'<br>CD <br>o<br>IA <br>O'|O <br>CQ <br> IA <br> cf<br> N|Ot<br> Ol<br> I|IO(0<br>QF<br>Ct|||IA<br>(O<br>Ol<br>o||cf <br>Ul <br>CO <br>Ol|o<br> (0<br> I<br>(O<br> (4||N<br>Ol<br>CQ|Ota<br>ED<br>CO|||CO<br>CQ<br>CQ<br>Ol||Qf<br>Ct(0<br>o||Ol<br>Ol<br>IA<br>IOl|
||||III<br>m|||4l02||||Of|N|Of|||||||||||IA|||||||
||||0 <br>m|(EI<br>CNI||||||||||M|Ut<br>O|||||||||||||||
||||m 4-<br>C g<br>m~<br>C of<br>4<br>00<br>0 C0<br>C<br>I<br>QlEi<br>m 0<br>m ~e'||||||CD<br>(Q<br>C<br>Qt<br>M<br>'oEE<br>EQ-<br>UI<br>Qt'<br>Ql<br>O(4 C<br>Ot E<br>N'QD E<br>C<br>CQ<br>4t 0<br>Qt<br>E<br>Uf<br>Qt<br>0 OC o<br>CC,P C|||||0 <br>IQ0 <br>IQ<br>(4<br>0<br>0 <br>Ql<br>E<br>0|0<br>CL<br> o<br> o<br>Qt<br>M<br>0<br> eO<br>QE<br>UE<br> C<br>(4|Ql<br>E00<br>(40I-|tll QD<br>Ut<br>h<br>Ot<br>CQl-<br>DL N<br>x e<br>Of CC||(4<br>ID<br>O<br>Uf<br>Qt<br>tQ<br>e0|ID<br>C<br>Ql<br>DL<br>X<br>4t<br>00<br>I|(4<br>C<br>QE<br>E<br>UE<br>Qt<br>C<br>0<br>tQOl<br>(ct<br>(40<br>Qt|E0<br>ClC<br>tll<br>0<br>QlO.<br>IC<br>Ql<br>Ql2|e<br>C<br>C<br>Ql<br>Qt<br>Ql<br>N<br>Ql<br>N<br>(Q<br>I-|Ul'0<br>E<br>E <br>Ql<br>Cl<br>E <br>4t2|h<br>Ql<br>Of<br> c<br> '0|'13<br>h<br>C<br>Ol<br>0o <br>M <br>e <br>O <br>(4 <br>'0<br>C <br>(L|NN<br> O<br> N<br>gO<br> (4<br> Uf<br>Qf|0<br>'0<br>Ql<br>EQ <br>N <br>0 <br>e <br>Ql <br>QD <br>0<br>LD|N<br>OI<br>o<br> N<br> 0<br>t<br> (4<br> Q<br>(4|





## 

|||Note||2023||2022|
|---|---|---|---|---|---|---|
|||||2|||
|Fixed assets|||||||
|Tangible fixed assets||||400,542||453,517|
|Investments||10||614,009||631,554|
|Total fixed assets||||1,014,551||1,085,071|
|Current assets|||||||
|Debtors||11|682,645||820,668||
|Cash at bank and|in hand||359,864||197,066||
||||1,042,509||1,017,734||
|Creditors|||||||
|Amounts<br>falling dus within one year||12|(226,087)||(146,473)||
|Net current assets||||816,422||871,261|
|Creditors|||||||
|Amounts<br>falling due after more than one|||||||
|year||13||(23,575)|||
|Total net assets||||1,807,398||1,956,332|
|Funds|||||||
|Unrestricted<br>funds|||||||
|General reserves||14||1,275,891||1,044,604|
|Designated<br>funds||14||100,689||179,447|
|Restricted funds||15||430&818||732,281|
|Members'<br>funds||||1,807,398||1,956,332|






## 

||||Note||2023||2022|
|---|---|---|---|---|---|---|---|
|Net cash gained/(used)<br>in|operating||18||269,942||(340,011)|
|activities||||||||
|Cash flows from investing|activities|||||||
|Interest and dividends||||11,789||10,917||
|Payments<br>to acquire investments||||(119,843)||(80,395)||
|Receipts on disposal<br>of investments||||134,196||102,303||
|Payments<br>to acquire fixed assets||||(133,286)||(17,015)||
|Net cash (used in)/provided|by investing|||||||
|activities|||||(107,144)||15,810|
|Change<br>in cash and cash|equivalents|in||||||
|the reporting<br>period||||||||
||||||162,798||(324,201)|
|Cash and cash equivalents|at the beginning||||197,066||521,267|
|of the reporting<br>period||||||||
|Cash and cash equivalents|at the end|of||||||
|the reporting<br>period|||||359,864||197,066|
|Cash and cash equivalents|compromise:|||||||
|Cash at bank|||||261,767||119,748|
|Cash held in investments|||||98,097||77,318|
||||||359,864||197,066|





## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

|2|Income|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||2023|2023|2023|2022|2022|2022|
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||Donations|||||||||
||Gift Aid donations|||||||||
||including<br>tax|||||||||
||recoverable|||36,722||36,722|25,252||25,252|
||General,<br>pledged|||||||||
||donations<br>and legacies|||414,224||414,224|368,357||368,357|
||Donations<br>in|kind|||24,000|24,000||13,439|13,439|
|||||450,946|24,000|474,946|393,609|13,439|407,048|
||Grants and|donations||||||||
||for specific|projects|||1,430,810|1,430,810||1,442,417|1,442,417|
||Investment|income||11,789||11,789|10,917||10,917|
||Other trading|||||||||
||activities|||||||||
||Gross proceeds||from|||||||
||auction|||133,123||133)123|110,672||110,672|
||Miscellaneous||income|2,903||2,903|8,071||8,071|
||Event sponsorship|||||||||
||income|||105,504||105,504|5,000||5,000|
|||||241,530||241,530|123,743||123,743|
||Total income|||704,265|1,454,810|2,159,075|528,269|1,455,856|1,984,125|





## 

## 

## 

|basis co|nsis|tent<br>with the us|e of resources.|||||
|---|---|---|---|---|---|---|---|
|||||Promotion||||
||||Raising|of salmon||Total|Total|
||||Funds|conservation|Governance|2023|2022|
||||2||2||2|
|Support|costs|||||||
|Staff costs|||141,691|132,446|16,391|290,528|186,062|
|Meetings|&Events|||45,362|30,853|76,215|36,351|
|Office running||costs||55,873||55,873|49,037|
|Subscriptions||||1,334||1,334|703|
|Professional||Fees||25,160|34,539|59,699|31,998|
|Website|8 Social Meeting|||3,281||3,281|4,529|
|Miscellaneous||||2,522||2,522|2,618|
|Allocation|to|projects||(108,378)||(108,378)|(139,100)|
|Total|||141,691|157,600|81,783|381,074|172,198|





## 

## 

|4|Expenditure<br>including|support|support|costs|costs|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||2023|2023|2023|2022|2022|2022|
||||||Unrestricted<br>Restricted|||Total|Unrestricted|Restricted|Total|
|||||||2|2|2||||
||Raising funds|||||||||||
||Staff costs (Note 3)||||141,691|||141,691|60,870||60,870|
||Annual<br>fishing<br>auction|||||9,548||9,548|31,227||31,227|
||Investment<br>managers<br>costs|||||6,718||6)718|5,048||5,048|
||Fundraiser<br>costs||||39)877|||39,877|16,529||16,529|
||International<br>Year ofthe Salmon|||||||||||
||costs||||||702|702||||
||||||197,834||702|198,536|113,674||113,674|
||Direct charitable<br>expenditure|||||||||||
||on promotion<br>ofsalmon|||||||||||
||conservation|||||||||||
||Scientific research expenditure<br>(Note 5)||||||1,769,521|1,769,521||1,644,210|1,644,210|
||Other direct charitable|||||||||||
||expenditure||||85,932|||85,932|73,121||73,121|
||London Chapter<br>and AST events||||11,445|||11,445|16,679||16,679|
||||||97,377||1,769,521|1,866,898|89,800|1,644,210|1,734,010|
||Support costs (Note 3)||||157,600|||157;600|46,387||46,387|
||Governance<br>costs (Note 3)||||81,783|||81,783|64,941||64,941|
||Total direct charitable|||||||||||
||expenditure<br>on promotion|of||||||||||
||salmon conservation||||336,760||1,769,521|2,106,281|201,128|1,644,210|1,845,338|
||Total expenditure||||534,594||1,770,223|2,304,817|314,802|1,644,210|1,959,012|
|5|Scientific project expenditure|||financed||directly|by Atlantic|Salmon|Trust|||
|||||||||||2023|2022|
||Likely Suspects Framework|||||||||277,195|259,258|
||Moray Firth Tracking Project|||||||||340,000|438,208|
||West Coast Tracking|||||||||999,615|674,758|
||Project Laxford|||||||||147,111|68,629|
||COP26|||||||||5,600|203,357|
||Total scientific projects|financed||by Atlantic Salmon Trust||||||1,769,521|1,644,210|
|6|Net income/(expenditure)|||||||||2023|2022|
||Net income/(expenditure)||is stated after|||charging:||||||
||Audit fee -current auditors|||||||||5,750|5,880|
||Depreciation<br>of tangible<br>fixed||assets|||||||186,261|204,780|
||Auditor's<br>remuneration|- audit||fee|(previous<br>auditors)||||||1,000|





## 

## 

|Staff costs|||||
|---|---|---|---|---|
||||2023|2022|
|Salaries|||412,152|278,475|
|Social security|costs||46,671|29,480|
|Pension costs|||22,399|15,115|
|||||'|
|Total staff costs|||481,222|323,070|
|The number|of employees|whose emoluments|exceeded 860,000 fall within the|undernoted<br>band:|
||||2023|2022|
||||Number|Number|
|290,000 —2100,000|||||



## 

## 

|Tangible fixed assets|||||
|---|---|---|---|---|
|||Property,|||
|2023|Project<br>Equipment|Plant and<br>Equipment|Motor<br>Vehicles|Total|
|Cost or valuation|||||
|At 1 April 2022|1,004,352|17,854||1,022,206|
|Additions|43,679|8,308|81,299|133,286|
|At 31 March 2023|1,048,031|26,162|81,299|1,155,492|
|Depreciation|||||
|At 1 April 2022|557,515|11,174||568,689|
|Charge for year|175,705|3,729|6,827|186,261|
|At 31 March 2023|733,220|14,903|6,827|754,950|
|Net book values|||||
|At 31 March 2023|314,811|11,259|74,472|400,542|
|At 31 March 2022|446,837|6,680||453,517|





## 

## 

|10|Quoted shares and securities|||
|---|---|---|---|
||Investments|||
||Historical cost at 31 March 2022||452,107|
||Unrealised<br>appreciation||179,447|
||Fair value at 31 March 2022||631,554|
||Movements<br>during year:|||
||Purchases<br>in year||119,843|
||Sale proceeds||(134,196)|
||Gain/(loss)<br>on sale in year at fair value||(78,723)|
||increase/(decrease)<br>in unrealised|appreciation|75,531|
||Fair value at 31 March 2023||614,009|
||Historical cost at 31 March 2023||513,320|
||Unrealised<br>appreciation||100,689|
||||614,009|



|11|Debtors|2023|2022|
|---|---|---|---|
||Amounts<br>falling due within one year:<br>Accrued income|627,916|801,440|
||Prepayments|54&729|19,228|
|||682,645|820,668|
|12|Creditors|||
|||2023|2022|
||||p|
||Amounts<br>falling due within one year:|||
||Trade creditors|26,446||
||Other creditors and accrued expenses|181,032|144,035|
||Other taxes and social security costs|18,609|2,438|
|||226,067|146,473|



||Included|in other creditors and accrual expenses is 250,334of deferred|income (2022 - RNII)||
|---|---|---|---|---|
|13|Creditors||||
||||2023|2022|
||Amounts|falling due after more than one year|||
||Vehicle|loan funding|23,575||





## 

## 

|14|Unrestricted<br>funds|Unrestricted<br>funds|Unrestricted<br>funds|Unrestricted<br>funds||||||Designated|Designated|funds||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||Total|
||||||||Unrestricted||||||Moray|Firth|Unrestricted|
||2023|||||||funds|||Investments||Tracking||funds|
|||||||||2||||||||
||At 31|March|2022||||1,044)604||||179,447||||1,224,051|
||Net movement<br>in funds||||during|||||||||||
||the year||||||166,479||||||||166,479|
||Transfers<br>from designated|||||funds||78,758|||(78,758)|||||
||Transfers to||restricted||funds|||(13,950)|||||||(13,950)|
||At 31|March|2023||||t)275,891||||100,689||||1,376,580|
||||||||||||||||Total|
||||||||Unrestricted||||||Moray|Firth|Unrestricted|
||2022|||||||funds|||Investments||Tracking||funds|
||At 31|March|2021||||820,921||||108,402||21,000||950,323|
||Net movement<br>in funds||||during|||||||||||
||the year||||||294,728||||||||294,728|
||Transfers<br>from designated|||||funds||(71,045)||||71,045||||
||Transfers<br>to||restricted||funds||||||||(21,000)||(21,000)|
||At 31|March|2022||||1,044,604||||179,447||||1,224,051|
|15|Restricted||funds|||||||||||||
||||||||Balance at||||||||Balance at|
||2023||||||31 March||||||||31 March|
||||||||2022|Income|||Expenditure||Transfers||2023|
||||||||2|||||2||2|2|
||(a)|Moray|Firth Tracking|||||||||||||
|||Project|||||250,829|230,478||||(340,000)|||141,307|
||(b)|West Coast Tracking|||||489,316|816,969||||(999,615)|||306,670|
||(c)|Likely Suspects||||||||||||||
|||Framework|||||(6,745)|263,247||||(277,195)|12,000||(8,693)|
||(d)|Project|Laxford||||10,129|128,5'I||6||(147,111)|||(8„466)|
||(e)|COP26|||||(11,950)||15,600|||(5,600)||1,950||
||(f)|International||Year of||||||||||||
|||the Salmon|||||702|||||(702)||||
||||||||732,281|1,454,810|||(1,770,223)||13,950||430,818|
||||||||Balance at||||||||Balance at|
||2022||||||31 March||||||||31 March|
||||||||2021|Income|||Expenditure||Transfers||2022|
||||||||2|||2|||||2|
||(a)|Moray|Firth Tracking|||||||||||||
|||Project|||||390,956|277,081||||(438,208)|21,000||250,829|
||(b)|West Coast Tracking|||||495,906|668,168||||(674,758)|||489,316|
||(c)|Likely Suspects||||||||||||||
|||Framework|||||12,071|240,442||||(259,258)|||(6,745)|
||(d)|Project|Laxford||||||78,758|||(68,629)|||10,129|
||(e)|COP26||||||1|9'I,407|||(203,357)|||(11,950)|
||(f)|International||Year of||||||||||||
|||the Salmon|||||702||||||||702|
||||||||899,635|1,455,856|||(1,644,210)||21,000||732,281|





## 

## 

|Analysis|of net assets betwee|n funds||||
|---|---|---|---|---|---|
|||2023|2023|2023||
|||General|Designated|Restricted|2023|
|2023||reserves|funds|funds|Total|
|||2|2|2|2|
|Tangible fixed assets||53,896||346,646|400,542|
|Investments||513,320|100,689||614,009|
|Net current|assets|732,251||84,171|816,422|
|Non-current|liabilities|(23,575)|||(23,575)|
|||1,275,892|100,689|430,817|1,807,398|
|||2022|2022|2022||
|||General|Designated|Restricted|2022|
|2022||reserves|funds|funds|Total|
|||2|2||2|
|Tangible fixed assets||6,673||446,844|453,517|
|Investments||452,107|179,447||631,554|
|Net current|assets|585,824||285,437|871,261|
|||1,044,604|179,447|732,281|1,956,332|



## 



## 

## 

## 

|Reconcili||tion<br>of net|move|ment|in fun|ds to net cash flow from|operating<br>activitie|s|
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||2|2|
|Net (expenditure)/income|||for|the reporting||period (as per the|||
|statement||offinancial<br>activities)|||||(148,934)|106,374|
|Adjustments||for:|||||||
|Investment||income shown|in investing||activities||(11,789)|(10,917)|
|Depreciation||charges|||||186,261|204,780|
|Loss/(gain)||on investments|||||3,192|(81,988)|
|(Increase)/decrease<br>in debtors|||||||138,023|(442,571)|
|Increase/(decrease)<br>in creditors|||||||103,189|(115,689)|
||||||||269,942|(340,011)|
|Financial||instruments|||||||
|Carrying|amount offinancial|||assets|||2023|2022|
||||||||2|2|
|Measured||at fair value through||the statement||of|||
|financial|activities||||||614,009|631,554|



||||||2023|2022|
|---|---|---|---|---|---|---|
|The Trust has commitments|||under operating|leases as follows:|2|2|
|Payable|within one year||||7,128|20,461|
|Payable|between|two and five years|||7,722|14,850|
||||||14,850|35,3111|
|Lease payments||paid in the|year||27,128|20,632|