**Charity registration number SC016969 (Scotland)**
## **FOULA ELECTRICITY TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
## **FOULA ELECTRICITY TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
## **Charity registration**
**Principal address**
**Independent examiner**
Thyme Tax & Accountancy Ltd 36 Angusfield Avenue Aberdeen Aberdeenshire United Kingdom AB15 6AQ
SC016969
## **FOULA ELECTRICITY TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 15|
## **FOULA ELECTRICITY TRUST**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The Trustees present their annual report and financial statements for the year ended 31 March 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 Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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**
Foula Electricity Trust exists to provide an electricity supply to the residents and businesses on the island of Foula, which is not connected to any existing electricity network. The charity provides electricity through its own renewable electricity generation system.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
## **Achievements and performance**
- Work on the grid modernisation upgrade project proceeded during this period.
Main achievements during year:
- The earthing study and systems study was completed.
- A new plinth for an additional transformer was installed at T10.
- New transformer doors were manufactured.
- An additional plinth was prepared at the new location of the T6 transformer.
- The new T6 transformer was delivered to the island and situated on the new plinth ready for switch over.
- An additional battery bank and inverter cluster was installed at the power centre to increase overall battery storage by 33%. This allowed the battery load parameter to be increased similarly, such that a battery load tipping point was avoided which would have pushed back up generator hours to increase exponentially.
- Webox replaced with Data Manager and upgraded to Sunny EnnexOS portal.
- All solar inverters replaced.
- 3(UK) was taken on as an additional operator at the telecoms mast.
- Discussions commenced with Northern Lighthouse board about installing a power supply to the lighthouse on the island at T1.
- A new 65KVA diesel generator was connected up on the supply side to alleviate pressure on the ageing back up diesel generator.
- 1 -
FOULA ELECTRICITY TRUST
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Unfortunately, the start of 2025 was a difficult period for the Trust due to a cable fault on the underground HV network
between T3 and T4. This was a 500 metre section of the original 1983 cable that developed an insulation fault such that it was
no longer able to function. The cable sections before and after this section having been replaced in previous years due to
similar faults. Sourcing an appropriate replacement cable proved very difficult due to the unique nature of the HV network in
comparison to commonly used HV cable stock. The cable fault cut the connection between the wind turbines and the power
centre therefore putting the wind turbines out of action durinB this period. A temporary battery/Benerator mini Brid was then
established at T3 to provide powèr to those customers. and a small back up diesel generator was loaned to the sole customer
at T2. The rest of the island was able to continue being fed from the Power centre, but without support from the wind
turbines. This led to increased fuel consumption from the network as a whole during this period.
In addition to this the new supply side back-up generator developed a mechanical fault that put it out of action in March 202S.
This put Sl8nificant pressure back on the old generator at a time when wind had been lost and generator hours were now
higher than normal. Operatin8 two independent grids either side of the faulted cable led to increased operator hours and
additional maintenance. However. the hard work that went into setting up and operating this rèconfigured supply ensured
that all consumers were still being provided with electricity during the extended time period required to source and then lav
the new cable section underground.
Fln•n¢lal revlew
The Trusts reserves have stabilised in recent times and the cashflow pre55ures during the ongoing projects have been
managed. This is de5Plte the added pressure of the cable fault that developed in early 2025.
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained
at a level equivalent to between three and six month's expenditure. The Trustees consider that reserves at this level will
ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while
consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout
the year.
As at the balance sheet date the charitable company had total reserves of £551,777
Of this amount, £477.093 related to restricted reserves and these were therefore only available to be used for the purposes
for which the income was originally received.
The remaining £74,684 represents the unrestricted reserves of the charitable company. Of this amount. £53.264 was
represented by,fixed assets Ibuildings, equipment etcl and accordingly this sum is not freely available for use by the charitable
company. The unrestricted funds available at year end to spend are £21,420.
Plans for future periods
Work on the grid modernisation upgrade project will continue. Thi5 ambitious project will increase the electricity grid capacitv
on Foula to accommodate additional load5 that will be required a5 a result of the transition to net zero.
Strurture• governance and management
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
d during the year and up to the date of signatuie of the financial statements were:
## **FOULA ELECTRICITY TRUST**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
The Trustees report was approved by the Board of Trustees.
17 December 2025
- 3 -
## **FOULA ELECTRICITY TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF FOULA ELECTRICITY TRUST**
I report on the financial statements of the Charity for the year ended 31 March 2025, which are set out on pages 5 to 15.
## **Respective responsibilities of Trustees and examiner**
The Charity’s Trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's Trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
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.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:
- (a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- (ii) to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
have not been met or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Thyme Tax & Accountancy Ltd 36 Angusfield Avenue Aberdeen Aberdeenshire AB15 6AQ United Kingdom
Dated: 17 December 2025
- 4 -
## **FOULA ELECTRICITY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
-
314,986
Charitable activities
**4**
68,696
-
**Total income**
68,696
314,986
**Expenditure on:**
Charitable activities
**5**
66,214
25,627
**Total expenditure**
66,214
25,627
**Net income**
2,482
289,359
Transfers between funds
161,151
(161,151)
**Net movement in funds**
**7**
163,633
128,208
**Reconciliation of funds:**
Fund balances at 1 April 2024
(88,949)
348,885
**Fund balances at 31 March 2025**
74,684
477,093|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
314,986
-
58,484
68,696
68,613
-
383,682
68,613
58,484
91,841
50,882
17,933
91,841
50,882
17,933
291,841
17,731
40,551
-
(175,137)
175,137
291,841
(157,406)
215,688
259,936
68,457
133,197
551,777
(88,949)
348,885|**Total**
**2024**
**£**
58,484
68,613|
|---|---|---|
|||127,097
68,815|
|||68,815|
|||58,282
-|
|||58,282
201,654|
|||259,936|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **FOULA ELECTRICITY TRUST**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**14**
**Net current assets/(liabilities)**
**Total assets less current liabilities**
**Creditors: amounts falling due after more than**
**one year**
**15**
**Net assets**
**The funds of the Charity**
Restricted income funds
**16**
Unrestricted funds
**17**|**2025**
**£**
57,098
54,207
111,305
(67,375)|**2024**
**£**
**£**
**£**
530,357
400,348
79,266
37,444
116,710
(220,759)
43,930
(104,049)
574,287
296,299
(22,510)
(36,363)
551,777
259,936
477,093
348,885
74,684
(88,949)
551,777
259,936|
|---|---|---|
The financial statements were approved by the Trustees on 17 December 2025
- 6 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
Foula Electricity Trust is a unincorporated charity.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the Charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). 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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
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.
## **1.3 Charitable funds**
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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
## **1.4 Income**
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
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.
## **1.6 Tangible fixed assets**
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:
Plant and equipment
variable rates
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.
## **1.7 Impairment of fixed assets**
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).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
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.
- 8 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial assets**_
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**_
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.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from donations and legacies**
||**Restricted**|**Restricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Grants|314,986|58,484|
- 9 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **4 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Electricity sales|56,440|53,563|
|Feed in tariff|11,862|14,640|
|Charitable rental income|-|30|
|Other income|394|380|
||68,696|68,613|
|**Expenditure on charitable activities**|||
||**2025**|**2024**|
||**£**|**£**|
|**Direct costs**|||
|Depreciation and impairment|26,641|18,747|
|Insurance|1,282|1,709|
|Telephone|388|397|
|Office costs|22|48|
|Sundry|-|41|
|Scheme maintenance|31,525|9,783|
|Fuel|21,917|25,581|
|Carriage|1,357|1,290|
|Rent|100|100|
||83,232|57,696|
|**Share of support and governance costs (see note 6)**|||
|Governance|8,609|11,119|
||91,841|68,815|
|**Analysis by fund**|||
|Unrestricted funds|66,214|50,882|
|Restricted funds|25,627|17,933|
||91,841|68,815|
**5 Expenditure on charitable activities**
- 10 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**6**
**Support costs allocated to activities**
Governance costs
**Governance costs comprise:**
Indpendent examination
Book keeping
**7**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
Depreciation of owned tangible fixed assets|**2025**
**£**
8,609
**2025**
**£**
425
8,184
8,609
**2025**
**£**
-
26,641|**2024**
**£**
11,119|
|---|---|---|
|||**2024**
**£**
425
10,694|
|||11,119|
|||**2024**
**£**
-
18,747|
## **8 Trustees**
received £17,323 for services to the trust (2024: £25,003)
## **9 Employees**
The average monthly number of employees during the year was:
|The average monthly number of employees during the year was:|||
|---|---|---|
||**2025**|**2024**|
||**Number**|**Number**|
|Total|-|-|
|There were no employees whose annual remuneration was more than £60,000.|||
## **10 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 11 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**11**
**Tangible fixed assets**
**Cost**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation and impairment**
At 1 April 2024
Depreciation charged in the year
At 31 March 2025
**Carrying amount**
At 31 March 2025
At 31 March 2024
**12**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**13**
**Loans and overdrafts**
Other loans
Payable within one year
Payable after one year|**Plant and**
**equipment**
**£**
777,298
156,650
933,948
376,950
26,641
403,591
530,357
400,348
**2025**
**2024**
**£**
**£**
25,598
20,095
10,698
42,999
20,802
16,172
57,098
79,266
**2025**
**2024**
**£**
**£**
29,436
36,363
6,926
-
22,510
36,363|**Plant and**
**equipment**
**£**
777,298
156,650
933,948
376,950
26,641
403,591
530,357
400,348
**2025**
**2024**
**£**
**£**
25,598
20,095
10,698
42,999
20,802
16,172
57,098
79,266
**2025**
**2024**
**£**
**£**
29,436
36,363
6,926
-
22,510
36,363|
|---|---|---|
|||933,948|
|||376,950
26,641|
|||403,591|
|||530,357|
|||400,348|
|||**2024**
**£**
20,095
42,999
16,172|
|||79,266|
|||**2024**
**£**
36,363|
|||-
36,363|
- 12 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|**14**
**Creditors: amounts falling due within one year**
Borrowings
Trade creditors
Accruals and deferred income
**15**
**Creditors: amounts falling due after more than one year**
Borrowings|**2025**
**£**
6,926
58,985
1,464
67,375
**2025**
**£**
22,510|**2024**
**£**
-
218,469
2,290|
|---|---|---|
|||220,759|
|||**2024**
**£**
36,363|
- 13 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **16 Restricted funds**
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.
|**Balance at**
**1 April 2023**
**£**
Recomm Fund
44,499
Generator Fund
16,901
Storage Upgrade Fund
71,797
133,197|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
58,484
(5,116)
-
(3,972)
-
(8,845)
58,484
(17,933)|**Transfers**
**Balance at**
**1 April 2024**
**£**
**£**
104,650
116,609
16,830
29,759
53,657
202,517
175,137
348,885|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Balance at**
**31 March 2025**
**£**
**£**
**£**
**£**
228,023
(5,116)
(14,548)
324,968
-
(5,656)
(2)
24,101
86,963
(14,855)
(146,600)
128,025
314,986
(25,627)
(161,150)
477,093|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Balance at**
**31 March 2025**
**£**
**£**
**£**
**£**
228,023
(5,116)
(14,548)
324,968
-
(5,656)
(2)
24,101
86,963
(14,855)
(146,600)
128,025
314,986
(25,627)
(161,150)
477,093|
|---|---|---|---|---|
|||||477,093|
- 14 -
## **FOULA ELECTRICITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **17 Unrestricted funds**
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.
||**At 1 April 2024**|**At 1 April 2024**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|---|
||||**resources**|**expended**||**2025**|
|||**£**|**£**|**£**|**£**|**£**|
|General funds||(88,949)|68,696|(66,214)|161,151|74,684|
|**Previous year:**|**At 1 April 2023**||**Incoming**|**Resources**|**Transfers**|**At 31 March**|
||||**resources**|**expended**||**2024**|
|||**£**|**£**|**£**|**£**|**£**|
|General funds||68,457|68,613|(50,882)|(175,137)|(88,949)|
|**Analysis of net assets between**|**funds**||||||
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2025**|**2025**|**2025**|
|||||**£**|**£**|**£**|
|**At 31 March 2025:**|||||||
|Tangible assets||||53,264|477,093|530,357|
|Current assets/(liabilities)||||43,930|-|43,930|
|Long term liabilities||||(22,510)|-|(22,510)|
|||||74,684|477,093|551,777|
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2024**|**2024**|**2024**|
|||||**£**|**£**|**£**|
|**At 31 March 2024:**|||||||
|Tangible assets||||10,591|389,757|400,348|
|Current assets/(liabilities)||||(99,540)|(4,509)|(104,049)|
|Long term liabilities||||-|(36,363)|(36,363)|
|||||(88,949)|348,885|259,936|
## **18 Analysis of net assets between funds**
## **19 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
- 15 -