Locus Breadalbane Ltd Registered Number. SC115398 Charity Number SC017508 Trustees John Steele l thairman I lan William Harbit Hew Watt Alison Stewart Alastsir MacLennan Irvine lan Nicholas Grant John Duff Treasurer: Alastair MacLennan Irvine Secretaries- J&H Mitthell WS Accountsnt . AGG Accountin8 Bankers: Bank of ScotlawKI The Square Aberfeldy Solicitors . J&H Mttchell WS 51 Atholl Road Pitlochry Registered Office . 51 Atholl Road Pitlochry Year to 31st October 2025 Page Report of Trustees Report ofthe Accountsnt Income and Expendtture Account Balance Sheet Notes to the Accounts 6-7 J,L,- f4*&1- Page I
Locus Breadalbane Ltd Report of the Trustees The Trustees submll their thirty seventh annual report togethef wilh thea¢rounts for the year ended 31st October 2025 Introduction Locus is a communitycompany. dedicated to the runnin8 of b£al fr4c•hies and a MmItment10 encourage education, the arts, heritage and cutture of Aberfel(tyand the Surrowndlarea. thrIOh the use of those facilitse5. We are 8ratefvl for the support shcywn SSE.P&K CLncIl Strategy The company rnaintains a su51aSned efftirt t¢ control and reduce eMpeNliture T*here pOlb. whilst pre5eNng the community assets in the form of the Loojs centre arKI T(wm Hall 8O¢MI condition for the tsse of future 8eneratFor75. This investment in the buoklFry is vbtal to achie¥ethis aiwL At the tlme every effort 15 rnade to increase usageand tncome. Financlal Report During the financial year the T04wn Hall required expendtture for repair5 continues. The breakdown of the expththiture ts shown split by location on the wKomt and expenditure account on pa8e S The accounts to the year efKling 31st Ortober 2025 sh)w a surplus of income over expenditure of £51.657 Cash at bank position of £122.909 will allow additional proiert eXpIlUret0 be Incurred. Debtors balaTr Is £10,457 Creditors of £1.014 There has been a revlew of the ratesfor room hire and offKe rental and these continue to be revb&ved with the aim of fully reco¥erin8 our running costs. It would be difficult to reduce our geral runni( costs wrthc¥Jt this a detrimental effert on our facilities and iherefore reduung the the custwner service level we currth wovide. Repairs and rnaintenance costs should now reduce havin8 carried out the esseniial work required at both the Locus Centre and the Town Hall but Nats are currentty bel ci>nstrurted. Once again we Eratefully acknowledBe our funders. trS year Ing SSE erant forllat renovation 1£50.0001 P&K £3,164 sheds Donatlons I£9) toilet &ish box and museum Future We will continue to attempt to run the twovenues for benefit of the public maintain them In a condition fit for the future8eneration as lundrng perrnits.
Locus Breadalbane Ltd Report of the Trustees ( Cont'd ) Fixed Assets Details are set out in the Balan Sheet on Page 6 and Note 2 Offt Pa8e 8 Under the terms of the grant received in 2CMXI. the National Lotteried Charities Board (Community Fund I retains an interest in the Heritable Property for 20 years to the value of the grant made. Trustees The Trustees, who are director5, are stated on Page I In accordance with the Memorandum and Articles ol Association one third of the trustees retire by rotation at the forthcoming Annual General Meeting. Statement of Trustees Responsibllitses Company Law requires the Trustees to prepare accountsfor each financial year which give a true and fair wew of the stste of affairs of the company as at the end of that year and of the surplus OT deficit of the company for that Perd. lft preparing those acctsunts, the Trustees are required to . selett suitable accounting policies and appty them con5i5tently make judgements and estimates that are reasonable and priKlent State whether applicable accounti standards have been fDllowed state whether applicable statements of recornmended practice have been followed and prepare the accounts on the going COnM basis unless it is inappropriate to presume that the company will Contin in business The Trustees are responsible for keeping proper accountiTr& records v•hich disclose with reasonable accuracy at any time the financial position of the company and which enable them to ensure that the accounts compty with relevant l%islation. They are aLso re5wnsible for safeguarding thee assets of the company and hence for taking asOnable steps for the prevention and detection of fraud and other irregularities. On beh3PF of the Trustees J&H Mitchell WS Secretaries
Locus Breadalbane Ltd Report of the Independent &amlnerto the Tnstees of loaL5 Breadalbane LIMId I report on the accounts ofthe charity for the year ended 315tOctokn 2025 vthich arp set IKrt on pages 5 to 8 as attached Respective responsibilities of ttee$ and examiner The Charity's trustees are responsible for the preparation of the accounts in accordance th the terms of the Charity and Trustees Investmenr IScodandlArt 200S and the Charities Accounts (Scotlandl Regulations 2(MlS. The charity trustees consider that the audlt requirement of Regulation io Ill (d) of the Accounts Regulations does not apply. It 15 my responsibiltty to eXarnI the accwnts as required under *rt¥on 441110 of the Act and to stste whether particular niatters have come to my attèntion. The trustees are satisfied that there will be sufficientfundin8 ralsed in the firture to continue with the refurbrshment of the Aberfeldy T¢)wn Hall and that ongoing incomefrom normal trading artr4itse5 will enable this to continue Basls of independent examinerfs statement My examination is carrled in acc¢xdance with Regu10n 11 of the Charitie5 Accounts (Scotland) Re8ulations 2006 An examInatOn includes a review of thè accounting recth kept by the tharity and a cornpari50n of the accounts presented with those records. It also indudes tonsrderatlon of any unusual item5 or disclosures in the accounts ands seeks explanati(5 from the trustees ¢oncemin8 such matters. The procedu VDdertsken do not provide all the evidence that would be required Fn an audit and consequently I do not express an audit opinion on the view grven by the accounts. Independent examinerfs statement In the course of my examination. no matter has cometo my altenti( apartfrom 3 l. which give5 me reasonable cause to believe that in any material respect the quirements- to keep accounting records in accordance wrth Sertron 4411iial of the 2th)5 Art and Regulation 4 of the 2006 Accr4Jnts Regulation5 and to prepa accounts which accord with the accounting records and comply with Regulation 9 of the 2CQ6 Accounts Regulations have not been met or 2. to which. In my opinion. attentron should be drawn in order to enable a Proper under5tsnding of the accounts to be reached 3. Howeveras dI$SSed , theJ4ed Oebtors balan ts ÉIOA57 of 4thith £4.722 Is > 90 da. The outstsnding balan shOld be re¥lewed Immethately arml aPFryY¥ate adbon Should be taken Alan Gibson Pa8e4
Locus Breadalbane Ltd Income & Expenditure Account For Year Ended 31st October 2025 Total 2025 Totsl 2024 Income Rent Recefved (Rcom Hirel Offlce Rentsl & Facllity Fees Gr3nts Re¢elved- SSE forftat renovatKsn 48.075 48.216 P&X-fundlng Ande15Dll / Basil Death FuTrJ 3.184 3.610 Architectural HeTFtage Fulld- Flats Grant P&K- Bat SLtrvev 5cottbh GovernmÈnt- Ruial &Wighknd Feaslbllty Oonations & Grft Aid 2.873 Miscellaneous IrKome 1H619 7S.160 Expendltur¢ Rent & Rates Insurance Water Charg88 Heat & L¥ht & Ga8 Property Reparrs & Refi¢ 8 Health and Safety Equiprynl Rq)w'r8 & Renwa 577 577 16.262 18.379 10.197 15. Accountancy Fees LE9al ProfesSbjn Fees Legal antt Profess)nal Fees- Hal DEvÈk¢Tht Legal and Profess1Th81 Fees- Locus CMtr¢ f¥eh¥ Town Hall Developrrwt Exwt¥Jhure L(oJ$ Cenlrs D#n8Tht Eyn(hlur Man8gem8nt Fees Bank Ch8rg8S Telephone & Inlemetcosts 12.195 207 1.788 Stationery & Pa8tage Adverfbsing & mathets.ng earting klat8riaTr5. & G8rdeTh"r General Exp8hses 8.140 DBpreciation 52.992 Surplus for1 51,667 8.807
Locus Breadalbane Ltd Balance Sheet as at 31st October 2025 2025 2024 Tangible Flxed Assets Land & Buildings 348.824 Ft¢S & FrttirvJs 2.910 4.910 Tethi¢4 Eq¥iKKnPJrt 353,734 Current Assets Dèbtors & Prepents 11.C C8sh at Bank in HK1 120.151 67.955 131215 77.618 Current Liabilities Creditors ." kncyJnts falliThJ d wilhfft y Sundry Creditors & knsuals 4,014 4.019 600 4&14 4,619 Net Current Assets 126.601 72,999 Total Net Assets 478.335 426,733 Funds Opening Funds at begnIng of year Surplus for the year 426.678 417.871 51.657 8.807 ClosiThJ Funds at end of year 4n.335 426,678 Unrestricted Funds 428.335 426,678 Restr8(1 Funds 478,335 426.678 The Accounts were approved by the Trustees and svJned on irs behalf on The Note$ on Page 8 fonn part ofthese aLwunts
Locus Breadalbane Ltd Balance Sheet (confd) Statement of the Trustees of Locus Breadalbane Ltd For the finanaal year ended 31st Odober 2025 . ts cixnpaw was wrtitled to exemption from audil under Sections 475 and 477 of the Companies Act 21 aThl no noti has been deposited by a member or members requesting an audit. Tfr£trU acknowwe their responsibiliiies for ensuring that the company keeps accounling records 1¢h ¢omFty yth the requiTements of the 21)06 Companies Act and for preparing accounts which give a true fair vmv of the state of affairs of the company as at the balance sheet date and of il's and loss for the fina1 year in accordance yth tt requirements of Section 394 and 395 and lch otherwise o)mpty wilh the requirwnents of the Companies Act 2006 , so far as applicable to thè compaiy. The accounts have been prepared in accordan WTth the special provisions of part 15 of the Companies Act relatiThJ lo small comparmes Il b,Ut(FiJ
Locus Breadalbane Ltd Notes to the Accounts For Ytar Ended 31stOctaber 2025 1. 4ccouMhry Polici Ac¢0uniin8Standawd5aF the 5tenvrtof Recommeded PraciKe.AtErAW tychathes DEpreclatlon Oepreci•tw Sprtioed un Hxed Assets. ottrthan LaThJ & ai ft1escakattor1Ltott the cost. le$5e5timated re7 valw. ol ¥ch355el itsesrifflated ¥5ehJl Ileasloll(wts.' FIvread Frt1 10. TechnkAI EqiBpffrt No depr[15 pro¥hJedon iarMJ& Bry535 resh•Ja1valtOthecoTh¥wlseirned lobe noi less ¢han Ifs tklUe. company b8sthalltre 5tatU5and isewnolrom CorptyatioThTaY Dn thewJ)fftil ha5 rEceThEd 2. Tangible Fixed Assets Land & BuilthngB F)r•S & Cost or Valualion At 1st NovembEr 2024 A(klititirss 6rant5 Recet¥ed At31s1 ortobÈiX125 Depreclatlon At Isi Novembet 2024 PrDVi5ioTrfDr the Year Elimtnated in respEtt oif#5P)sa At 3lstoctor 2025 114621 Not Pook Value At 3tstQ¢tober 2025 1910 351.n4 At 31st Ociober2024 318.824 4.910 35&n4 Thècompany hoklsth2 tiiletotheformercorwegabonalchurth bulkyt in uare.terfeMtyfhh it ¥qLMed byihewayofa 8ift. The TrleeS Iw¥eresoNrdthat the bushkI be in th ac¢ouDt5 ata valuatn 01£45.LWbased on a KwofesonaI madeth tknrnber 1998 3. Funds The companyholds both VDTestrfcted and restrted fur#. Unrestted tutKts rna¥ utiW.attho di5cretlon of the ¢onne fv)w tr general ptsrwseof fuhmThteaIS0fthec0ts)v. Re5trKted funds may only be utIf the wffp05ekf thith th0$efd$elJnated. ThE restricted fvnds are hfor1t0f ren¢y•atlon (rfthEllat& Unre5triaed Totsi Fvnd5 £¥ Furxls a5 at3tst 0tt14Jer 2024 426.678 Inc EXnditure ndsasJt31stOctolJEr 2025 $4N9 152.g921 428335 IC4,649 152,9921 4. Debtors & PrepayThents Debtors É10,457, Prepayineyit. I[rae (607 5. Credltors Trade ¢di¥s £L0l4.VATTh £1,589. VATbhtthÉl.412 Iij