**REGISTERED CHARITY NUMBER: SC014603**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2025**
**FOR**
**THE ARRAN SOCIETY OF GLASGOW**
**THE ARRAN SOCIETY OF GLASGOW**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O SEPTEMBER 2025**
||**Page**|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner’s Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 13|
**THE ARRAN SOCIETY OF GLASGOW**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025**
The trustees present their report with the financial statements of the charity for the year ended 30[th] September 2025. 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 objects of the charity (known as “the society”) as set out in its rules and regulations are:
1. The support and encouragement of benevolent, cultural, and educational objects connected to the Island of Arran or the natives thereof.
2. Relieving the needs of the residents or former residents of the Island of Arran, or their descendants, or other persons eligible to be members of the Society.
3. The education of advancement in any trade or profession of deserving persons eligible to be members of the Society by means of grants.
4. The collection, preservation and publication of the history and folklore of the Island of Arran.
## **Grantmaking**
Applications for grants are made directly to the Society, Grants are paid at the discretion of the trustees.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The trustees believe that during the year under review the Society achieved its objects, awarding grants in the sum of £18,862 (2024 £16,731). The trustees will closely monitor income and expenditure in the current year and will continue to consider applications in order that the income available can be utilised towards the objects of the Society.
## **FINANCIAL REVIEW**
## **Financial position**
A detailed Statement of Financial Activities can be found on page 5 to these financial statements. Income from donations, investments, and other income was more than expended on costs for the year however after taking into account net investment gains the Society showed an increase in funds of £1,037 (2024: £14,374).
The net gains on investments for the year were £16,158 being £16,910 of realised gains and £752 of unrealised losses (2024: Net gain of £27,851 being £7,201 realised gains and £20,650 unrealised gains).
## **Investment policy and objectives**
The trustees have considered the most appropriate policy for investing funds and have appointed Rathbones (incorporating Investec Wealth & Investment) as investment managers. The Society has invested mainly in UK equities, although some investment has been made in foreign securities. The requirement of the trustees is that the investments generate both income and capital growth. The trustees are satisfied that the management and performance of the investments in the year conforms to these requirements.
## **Reserves Policy**
It is the policy of the Society to maintain the capital fund to generate annual income for distribution. The Society will not distribute funds greater than the revenue account balance. Donations, legacies, or other sums paid, or which may be paid to the Society subject to restrictions or conditions as to the disposal or application thereof, shall be held and applied in accordance with such restrictions and conditions.
Page 1
**THE ARRAN SOCIETY OF GLASGOW**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **Going concern**
The society is in a strong financial position and cashflow is not an immediate problem. The trustees will assess income and reserves and monitor grant and other expenditure. They therefore have a reasonable expectation that the Society has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the financial statements. There are no material uncertainties about the Society’s ability to continue as a going concern.
## **FUTURE PLANS**
The trustees of the Society will continue to consider applications in order that the available income can be utilised towards the Society’s objectives.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document and constitution**
The Society is an unincorporated membership entity registered with OSCR as having charitable status. The Society is governed by its rules and regulations.
The persons eligible for membership of the Society shall be any person interested in the Island of Arran. Candidates for membership may be admitted by Directors at any of their meetings or by a majority of the members present at any General Meetings of the Society.
## **Recruitment and appointment of new trustees**
The Office Bearers of the Society are its trustees for the purposes of charity law and throughout this report are collectively referred to as the trustees.
The power to appoint and remove trustees rests with the members as set out in the rules and regulations of the Society.
Induction and training of new trustees
Induction and training as required is given on appointment of new trustees by the serving trustees.
## **Key management remuneration**
The trustees, who meet regularly, are responsible for directing and controlling, running and operating the charity on a day-to-day basis and are thus deemed to be the key management of the Society. The trustees give their time freely and receive no remuneration.
## **Risk management**
The trustees of the charity are aware of the risks the Society faces and consider that adequate procedures are in place for dealing with risk assessment, particularly in relation to the management and control of the Society funds, including the investment portfolio, and also in relation to the disbursement of grants. All procedures are periodically reviewed to ensure they still meet the needs of the Society.
**REFERENCE AND ADMINISTRATIVE DETAILS Principal address Registered Charity number** Flat 11 SC014603 Muirfield Court 20 Muirend Road Glasgow G44 3QP
**Page 2**
**THE ARRAN SOCIETY OF GLASGOW**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025**
**Trustees** Office Bearers **President** James Crawford **Vice President** Sarah Weir **Secretary** Kirsty Crawford **Treasurer** Graeme Kerr **Directors** Sheila Gilmore Catherine Murchie Gilbert M Anderson Claire Johnston Isabel MacMillan Fraser Davidson Mary Margaret Brown Hannah Dobson Gavin Pritchard Julie McLeod (appointed December 2024) **Independent Examiner** Lorna Wyllie Arran Accountants Ltd Shore Road Brodick Isle of Arran KA27 8JY **Stockbroker** Rathbones (incorporating Investec Wealth & Investment Limited) 5 George Square Glasgow G2 IDY
Approved by order of the board of trustees on 14[th] May 2026 and signed on its behalf by:
Mr J Crawford – President (Trustee)
**Page 3**
**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ARRAN SOCIETY OF GLASGOW**
I report on the account for the year ended 30 September 2025 set out on pages five to thirteen.
## **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(I)(a) to (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. As 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 Regulations 4 of the 2006 Accounts Regulations: and
- To prepare accounts which accord with the accounting records and to comply with Regulations 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.
Lorna Wyllie Arran Accountants Ltd Shore Road Brodick Isle of Arran KA27 8JY
14[th] May 2026
**Page 4**
## **THE ARRAN SOCIETY OF GLASGOW STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025**
**----- Start of picture text -----**
Unrestricted Endowment 2025 Total 2024 Total
fund Restricted fund fund funds funds
Notes £ £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and Legacies 579 579 350
Fundraising activities 6,430 6,430 4,250
Other income 410 410 50
Investment Income 3 3,579 895 4,473 6,505
Total 10,997 895 - 11,892 11,155
EXPEDITURE ON
Raising funds 4 5,086 401 1,605 7,092 6,896
Charitable activites
Island of Arran activities 5 18,122 1,800 - 19,922 17,736
Total 23,207 2,201 1,605 27,013 24,632
-
Net gains/(losses) on investments 3,231 12,927 16,158 27,851
NET -
INCOME/(EXPENDITURE) (12,210) 1,924 11,322 1,037 14,374
RECONCILLIATION OF FUNDS
Total funds brought forward 32,149 52,996 192,088 277,232 262,858
TOTAL FUNDS CARRIED FORWARD 19,939 54,920 203,410 278,268 277,232
**----- End of picture text -----**
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities
Page 5
## **THE ARRAN SOCIETY OF GLASGOW BALANCE SHEET**
## **AS AT 3O SEPTEMBER 2025**
**----- Start of picture text -----**
Unrestricted Restricted Endowment 2025 Total 2024 Total
Funds Funds Funds Funds Funds
Notes £ £ £ £ £
FIXED ASSETS
Investments 11 32,310 50,012 190,840 273,163 276,593
CURRENT ASSETS
Cash at Bank 5,706 - - 5,706 1,239
Other debtors - - - - -
CREDITORS
Amounts falling due within one
year 12 (600) - - (600) (600)
NET CURRENT ASSETS 5,106 - - 5,106 639
TOTAL ASSESTS LESS CURRENT
LIABILITIES 37,416 50,012 190,840 278,268 277,232
NET ASSETS 37,416 50,012 190,840 278,268 277,232
FUNDS 13
Unrestricted funds 19,939 32,149
Restricted funds 54,920 52,996
Endowment funds 203,410 192,088
278,269 277,232
**----- End of picture text -----**
## **TOTAL FUNDS**
The financial statements were approved by the Board of Trustees and authorised for issue on 14th May 2026 and were signed on its behalf by:
Mr J Crawford - President (Trustee)
Mr G Kerr - Treasurer (Trustee)
Page 6
**THE ARRAN SOCIETY OF GLASGOW**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **1. GENERAL INFORMATION**
The Arran Society of Glasgow is a registered Scottish charity (Charity Number SC014603) and constitutes an unincorporated charity.
The principal address of the charity is Flat 11, Muirfield Court, 20 Muirend Road, Glasgow, G44 3QP
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
The financial statements of the Society 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’, the charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The financial statements have been prepared under the historical cost convention with the exception of investments at market value.
## **Going concern**
The Society is in a strong financial position and cash flow is not an immediate problem. The trustees will assess income and reserves and monitor grant and other expenditure. They therefore have a reasonable expectation that the Society has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the financial statements. There are no material uncertainties about the Society’s ability to continue as a going concern.
## **Financial reporting standard 102 – reduced disclosure exemptions**
The charity 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.
## **Income**
All income is recognised in the Statement of Financial Activities once the Society has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Costs relating to charitable activities, are charged to the Statement of Financial Activities on an accruals basis. Expenditure is recognised when there is a legal or constructive obligation to pay for expenditure.
Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Cost of raising funds includes the costs incurred in respect of the investment portfolio management and costs of fundraising costs.
**Page 7**
**THE ARRAN SOCIETY OF GLASGOW**
## **NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **2. ACCOUNTING POLICIES – continued**
Charitable activities costs include costs incurred directly in meeting the objects of the Society, including payment of grant, costs including support costs and governance costs apportioned to charitable activities. Support costs are incurred in support of direct expenditure.
Governance costs, a category within Support costs, are costs attributable to compliance with the Society’ constitutional and statutory requirements.
## **Expenditure**
The charity is not VAT registered and accordingly expenditure is shown gross is irrecoverable VAT.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The Society is exempt from tax on its charitable activities.
## **Fund accounting**
Funds held by the Society are either.
Unrestricted funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Endowment funds – these are funds which form the capital of the Society. The income arising from such funds is treated as unrestricted.
Restricted funds – these are funds that can only be used for the particular restricted purpose as specified by the donor.
Further explanation of the nature and purpose of each restricted fund is included in the notes to the financial statements.
## **Fixed asset investments**
Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the closing quoted market value. The Statement of Financial Activities includes net gains and losses arising on revaluation and disposals throughout the year.
## **Financial instruments**
The Society only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Cash and cash equivalents**
Cash and cash equivalents includes cash, bank and deposit accounts with a short term of maturity, being twelve months or less, from opening of the deposit or similar account.
## **Creditors**
Other creditors are recognised where the Society has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Other creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
**Page 8**
## **THE ARRAN SOCIETY OF GLASGOW NOTES TO THE FINANCIAL STATEMENT - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
**----- Start of picture text -----**
2025 2024
3. INVESTMENT INCOME
Dividends 4,473 6,505
2025 2024
4. RAISING FUNDS
Fundraising costs 5,086 4,210
Investment management costs 2,006 2,686
Aggregate costs 7,092 6,896
5. CHARITABLE ACTIVITIES COSTS
(Grant
funding of Support
activities see costs (see
note 7) note 8) Totals
Isle of Arran activities 18,862 1,059 19,922
6. GRANTS PAYABLE 2025 2024
Island of Arran activities 18,862 16,731
The total grants paid to institution during the year was as follows
2025 2024
Arran International Festival Trust 1,000 -
-
Arran High School 1,200
Arran Shinty Club 550 -
Arran Music School 1,000 -
Brodick Primary School - 218
Feis Arran 4,000 -
-
Junior Sailing Club 1,000
Isle of Arran Museum Trust - 1,000
7,750 2,218
**----- End of picture text -----**
Page 9
**THE ARRAN SOCIETY OF GLASGOW NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **7. GRANTS PAYABLE - continued**
The total grants paid to individuals during the year was as follows:
|James S Scott Memorial award
John D Mackinnon award
Other grants
**8. SUPPORT COSTS**
Island of Arran activities
459
Support costs, included in the above, are as follows:
**Management**
Secretarial and general expenses
Governance costs
Independent examination
Management|**2025**
300
1,500
9,312
11,112
600
**2025**
Island of
Arran
activities
459
**2025**
Island of
Arran
activities
600
Governance costs|**2024**
300
1,500
12,713
14,513
Totals
1,059
**2024**
Total activities
405
**2024**
Total activities
600|
|---|---|---|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 September 2025 nor for the year ended 30 September 2024.
## **Trustees' expenses**
Two trustees were reimbursed a total of £368 (2024: £405) for costs incurred on behalf of the Society.
Page 10
**THE ARRAN SOCIETY OF GLASGOW NOTES TO THE FINANCIAL STATEMENT - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS**
Donations and legacies
Fundraising activities
Other income
Investment income
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Island of Arran activities
**Total**
Net gains (losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILLIATION FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**11. FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 October 2024
Additions
Disposals
Revaluation
At 30 September 2025
**NET BOOK VALUE**
At 30 September 2025
At 30 September 2024|Unrestricted
fund
Restricted
funds
Endowment fund
Total funds
£
£
£
£
350
-
-
350
4,250
-
-
4,250
50
-
-
50
5,204
1,301
-
6,505
9,854
1,301
-
11,155
4,210
537
2,149
6,896
15,936
1,800
-
17,736
20,146
2,337
2,149
24,631
-
5,570
22,281
27,851
(10,292)
4,534
20,132
14,375
42,440
48,462
171,956
262,857
32,148
52,996
192,088
277,232
£
276,593
114,255
(118,800)
27,851
299,899
299,899
276,593
Listed investments|
|---|---|
There were no investment assets outside the UK
Page 11
## **THE ARRAN SOCIETY OF GLASGOW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **11. FIXED ASSET INVESTMENTS -continued**
Cost or valuation at 30 September 2025 is represented by:
|Valuation in 2025
**12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**13. MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
J D Mackinnon Trust fund
James S Scott Memorial Trust fund
**Endowment funds**
Capital funds
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
10,997
**Restricted funds**
J D MacKinnon Trust fund
1,080
James S Scott Memorial Trust fund
221
1,301
**Endowment funds**
Capital funds
-
**TOTAL FUNDS**
12,298|Listed
investments
299,899
**2025**
**2024**
£
£
600
600
At 1.10.24
Net movement
in funds
At 30.9.25
£
£
£
32,148
(12,210)
19,937
44,263
3,757
48,020
8,733
777
9,510
52,996
4,534
57,530
192,088
11,322
203,410
277,232
3,645
280,877
Resources
expanded
Gains and losses
Movement in
funds
£
£
£
(23,208)
-
(12,210)
(1,946)
4,623
3,757
(391)
947
777
(2,337)
5,570
4,534
(1,605)
12,927
11,322
(27,150)
18,497
3,645|
|---|---|
Page 12
**THE ARRAN SOCIETY OF GLASGOW NOTES TO THE FINANCIAL STATEMENT - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025**
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
J D MacKinnon Trust fund
James S Scott Memorial Trust fund
**Endowment funds**
Capital funds
**TOTAL FUNDS**
Incoming
resources
£
**Unrestricted funds**
General fund
9,854
**Restricted funds**
J D MacKinnon Trust fund
1,080
James S Scott Memorial Trust fund
221
1,301
**Endowment funds**
Capital funds
-
**TOTAL FUNDS**
11,155
**Comparatives for analysis of net assets between funds**
Unrestricted
fund
£
Investments
32,662
Current assets
1,239
Current liabilities
(600)
33,301|At 1.10.23
Net
movement in
funds
At 30.9.24
£
£
£
42,440
(10,292)
32,148
40,506
3,757
44,263
7,956
777
8,733
48,462
4,534
52,996
171,956
20,132
192,088
262,858
14,374
277,232
Resources
expanded
Gains and
losses
Movement
in funds
£
£
£
(20,146)
-
(10,292)
(1,946)
4,623
3,757
(391)
947
777
(2,337)
5,570
4,534
(2,149)
22,281
20,132
(24,632)
27,851
14,374
Restricted
fund
Endowment
fund
2024 Total
funds
£
£
£
51,146
192,785
276,593
-
-
1,239
-
-
(600)
51,146
192,785
277,232|
|---|---|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2025.
Page 13