IONA HERITAGE TRUST Financial Statements for the year ended 31 December 2025 Charity No: SCOI 5292 Simmers & Co OBAN
lona Heritage Trust Contents Page Independent Examiners Report on the Accounts Trustees Annual report Report of the Trustees Statement of Receipts & Payments Statement Balances Notes to the accounts
lona Heritage Trust Independent examiner's report on the accounts Report to the trusteeslmembers of lona Heritage Tryst on the accounts of the charity for the year ended 31 December 202S I report on the accounts Set out on pages 2 to 6 Respertive re5ponsibilitie5 Of trustees and examiner The charity's trustees are responsible for the preparation of the account5 in accordance with the term5 of Ehe Charicies and Trustee Inve5trnent {Scotland) 2005 Act and the Charities Accounts {Scotland) Regulation5 2006. The chariry trustee5 consider that the audit requirement of Regulation l 01 I l{d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 4411 } {c) of the Act and to sote whether particular matters have come to my attention. Basis of independent examiner's statement My examination is carried ouc in accordance with Regulation I l of the Charities Account5 {Scotlandl Regulations 2006. An examinarion 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 disc105ures in the accounts and seeks explanations from the trustee5 concerning any such matters. The procedure5 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 accounts. Independent examine$ Statement In the course of my examination. no matter has come to my attention. which gives me re2$0nable cause to believe that in any material respect the requirements: to keep accounting records in accordance with settion 4411) (al of the 2005 Att and Regulation 4 of the 2006 Accounts Regulations, and to prepare accounts which accord with the 2ccounting records and comply with Regulation 9 of the 2006 Accounts Kegulations have not been mel or to which. in my opinion. attention should be drawn in order to ersable a proper undersTan rhe accounts to be reached. David-McGregor Bsc CA Independent Examiner Simmer5 & Co Chartered Accountant5 Albany Chambers Albany Street Oban Date 20 March 2026 Page I
lona Heritage Trust Trustees, Annual report For the year ended 31 December 2025 The Irustees have pleasure in presenting their report together with the financial starnents for the year ended 31 December 2025. Charity Name lona Heritage Trust Scottish chariry number SCO15292 Addres5 The Old Manse ISLE OF IONA PA76 6SQ Trustees Mr G Bruce Ms R Muckart-Lilley Ms J Witcowska Ms S MacDonald Ms R Broyffl Ms J Brace {Resigned 1210112026) (Chair} (appointed 1417120251 Independent Examiner Mr David A McGregor, CA Simmers & Co Chartered A¢tountants Albany Chambers Albany Street PA34 4AL Bankers Bank of Scotland Station Road OBAN PA34 4LL Page 2
lona Heritage Trust Trustees, Annual Report Year ended 31 December 2025 Strvcturo, Governnien¢ and Management The iru5L wh5ch 1s a rccognised chariry in Scotland, is operafed under Ihe rules ol its Trusi Deed dated 17th May 1989. The ManeMnI of the crusi 15 the responsibility ol the Tru5cees who ère elected and co-optcd vnder ¢l)e tenn5 01 the TrLtst Deed. Recruitment and Appointment of TrnstÈes The ¢ru5t endeavour5 to elect 3nd co-opt In line with the requirements of the tru51 deed. Objectives and Activitie5 The principal object ol che trusi to operdte a Heritsge centre within the Church of Scotland Manse, lon) with a view to repair. renovate and m31ntsin that properrx. There have been no Ihanges sn objeciive5 In the ye3r. Achievements and Perfomiance Despite ch211enging conditions on lona this year -poor weather and ferry cancellations le3d4ng to fewer visitors to the island .we maintained 3 51e3dy income from 53le5 and dotoiions Jrid rent from the cale. We continued ¢0 expaThd (he range ol products on offer. We recnJited 3 manager lor the cene to start in January 2026, and we 3150 gained one new trustee. FÉnancial review During the ye3r the chary gener3ted a surplu5 of 117,110, 12024 - surplus U,B69) all ol which was unrestritted. resulring In totsl cash reserves of £51,613, {2024 - £34,503}, 311 unresiricted. Plans for future periods With a manager now in place. we 2im to grow VlSTLor numbers and increase income through sales ané new income streams. Plan5 are lor rhe manager 10 update the point-of-5ale sysiems, 2pply for new sources of funding and improve the exhibit and our publicity. We aim ¢0 do some fundraising specrfic311y (or building repairs. Reser4es Policy There is not 2 reseryes policy as such, but The Truscees tsy to ensure that there are sufficient lunds 10 meet their commitments for the next six mtsnths. Statement of the Responsibilities of the Trustees The Trustees have prep3red financial 5tstements which gve 5ulficien¢ deTril to ewdble an appreciation of the Ir3n5actions of the Heritage Cenire during the finaocral year. They are responsible lor keeping proper accounting record5, which, on requesc rnust reflect the financi31 position of the Heritage Cenire ai th31 time. The Trustees were responsible for safeguarding the assets of the Manse Buildings. and took rÈ)son3ble step5 ¢0 prevent and detect fraud. and other irregularities. The uu5tees' annual report vtds approved on 20 March 2026 and signed on beh2110l the b03rd ol ¢ru5tees by. £Na4 Ms S Macdonald Chair and trustee Page 3
lona Heritage Trust Statement of Receipts and Payments For the year ended 31 December 2025 Unrestrirted Funds Restrirted Year ended Year ended Funds 31112125 31112124 Receipts Investment income Receipts from Charitable artivities Gross trading receipts 11.960 9,919 55,464 11.960 9,919 55,464 11,620 6.988 57.980 Total receipts 77.343 77.343 76.588 Unrestricted Funds Restricted Year ended Funds 31112125 Year ended 31112124 Payments Gross trading payments Goverrsance costs 58.683 1,550 58,683 1.550 67.875 1,588 Sub Total 60,233 60,233 69,463 Payments relating to asset and investment movements Purchase of fixed assets 3.256 Total payments 60,233 60,233 72,719 Surplus for the year Transfers berween fund5 17.110 3,869 Surplu5 for the year 17,110 3,869 Page 4
IoD3 Heritage Trust Statement of Balances at 31 December 2025 Unrestricted Funds Restricted Funds Total 2025 Total 2024 Opening cash ai bank ind in h3nd Surplus for the year 34.503 34.503 30.634 3,869 Closin8 c25h 21 bank 3r)d tn hand 51.613 51,613 34,503 Unrestricted Funds Restricted Funds Total 2025 Total 2024 Bank and Cash balances Bank 3ccouni and cash Ir) hand 51,613 51,613 34.503 Closing (2sh at bank and in hand 51,613 51,613 34.503 Swgned by the following on behalf of the Irustees S Macdonaid Chair and tstee Trustee 20 March 2026 Page 5
lona Heritage Trust Notes to the accounts Year ended 31 December 2025 asi5 of Accounting These accounrs have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 {As amended) 2. Nature and purpose of fund5 Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of che objects of the chariry. The trustres maintain a single unrestricted fund for the day-to4ay running of the club. Restricted funds may only be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for Specific purpose5. 3. Related party transactions The club's insurance policy includes Trustee Indemnity Insurance for all it5 trUse$. No other remuneration was paid to the trustees or any connected persons during the year {2024: Nil). 4. Cost of Charitable activities Unrestricted Funds Restricted Funds Total 2025 Total 2024 Purchases Wages and salaries Rent and rates Heat and light Garden costs General expenses General repairs and maintenance Water charges Advertising Insurance Telephone Credit card charges Administraiion and other costs 28,848 18,697 28,848 18,697 35,678 18.185 474 364 3.193 159 3,817 49 125 3.043 597 71 2,663 213 3.483 267 45 3.148 329 71 2.663 213 3,483 267 45 3,148 329 108 108 1.073 58.683 58,683 67,875 5. Governance costs Unrestricted Funds Restricted Funds Total 2025 Total 2024 Independent examiner's fees Other services 360 300 890 1.550 360 300 324 264 Professional services I,sso 1.588 Page 6