**Registered number: SC138868 Charity number: SCO20457** 

## **CANAN ALBA LTD** 

## **UNAUDITED** 

**TRUSTEE'S REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 JULY 2025** 

## **CANAN ALBA LTD** 

## **CONTENTS** 

||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustee's report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 11|



## **CANAN ALBA LTD** 

**REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025** 

|**Trustees**|Dr D Munro|
|---|---|
|**Company registered**<br>**number**<br>SC138868<br>**Charity registered**<br>**number**<br>SCO20457<br>**Registered office**<br>Sabhal Mor Ostaig<br>Teangue<br>Isle Of Skye<br>IV44 8RQ<br>**Accountants**<br>AAB Audit & Accountancy Limited<br>133 Finneston Street<br>Glasgow<br>G3 8HB||



Page 1 

## **CANAN ALBA LTD** 

## **TRUSTEE'S REPORT FOR THE YEAR ENDED 31 JULY 2025** 

The Trustee present their annual report together with the financial statements of the Company for the  1 August 2024 to 31 July 2025. The annual report serves the purposes of both a Trustee' report and a directors' report under company law. The Trustee confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 

Since the Company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. 

## **Objectives and activities** 

## **a. Activities undertaken to achieve objectives** 

The principle activities of the charity are: 

- to advance education particularly in the Gaelic language; 

- to promote and/or provide training in skills of all kinds; 

- to promote, establish and operate other schemes of a charitable nature; 

- the advancement of citizenship or community development; and 

- the advancement of the arts, heritage, culture or science. 

## **Achievements and performance** 

## **a. Main achievements of the Company** 

During the year ended 31 July 2025 the charity managed its investment in its trading subsidiary Canan Ltd. 

## **Financial review** 

## **a. Going concern** 

In preparing these financial statements, the Director of the company has given careful consideration to current and anticipated future solvency requirements of the company and it is the intention to wind up the company in the next 12 months following the date of approval in the next 12 months. 

Based on the considerations detailed above, the financial statements have been prepared on a non-going concern basis. 

Page 2 

**CANAN ALBA LTD** 

## **TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025** 

## **Structure, governance and management** 

## **a. Constitution** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

Canan Alba Limited was incorporated as a company limited by guarantee and registered as a charity on 16 June 1992. The Company was established under a Memorandum of Association which establishes the objectives and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. 

## **b. Methods of appointment or election of Trustee** 

The directors of the company are also charity trustees for the purposes of charity law and under the Company’s Articles of association are known as the Board of Directors. Under the requirements of the Memorandum and Articles of Association, the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next annual General Meeting (AGM). Due to the ownership of the organisation, the Board of Directors is made up of individuals who are committed to the objectives of Canan Ltd. Individuals are approached to offer themselves for election to Canan Alba Limited where it is believed that their appointment would fill any skills gap within the Board. New directors are appointed at the AGM. 

## **c. Organisational structure and decision-making policies** 

Canan Alba Limited has a Board comprising of one director. The future role and Directorship of Canan Alba Limited is currently under consideration. 

## **d. Policies adopted for the induction and training of Trustee** 

When a new director is appointed they will undergo an induction programme to familiarise themselves with company and the context in which it operates. This will include formal information sessions to cover areas such as: 

- the obligations of Board members; 

- the Memorandum and Articles of Association; 

- the latest set of published accounts for Canan Alba Limited; 

- the latest set of published accounts for Canan Ltd.; 

- future plans and objectives for Canan Alba Limited; and 

- the Canan Ltd business plan 

Changes will be made to the induction programme, following any operational changes within the organisations and/or feedback from new directors. Ongoing training will be provided as any changes occur within Canan Alba Limited and Canan Ltd, or changes to Company Law or Charity Law. 

## **e. Related party relationships** 

The Board of Canan Alba Limited regard the company as being controlled by Sabhal Mòr Ostaig, charity  number SC002578, Scotland’s Gaelic medium college. Canan Alba Limited owns 100% of the issued share  capital of Canan Limited (SC216826) Canan Limited is the trading arm of Canan Alba Limited. 

## **f. Financial risk management** 

The Trustee has assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. 

Page 3 

**CANAN ALBA LTD** 

## **TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025** 

## **Structure, governance and management (continued)** 

## **g. Members' liability** 

The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up. 

## **Statement of Trustee's responsibility** 

The Trustee (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustee to prepare financial statements for each financial . Under company law, the Trustee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles of the Charities SORP (FRS 102); 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. 

The Trustee are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the members of the board of Trustee and signed on their behalf by: 


................................................ **Dr D Munro** 

Date: 1 April 2026 

Page 4 

## **CANAN ALBA LTD** 

## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2025** 

## **Independent examiner's report to the Trustee of Canan Alba Ltd** 

I report on the accounts of the company for the year ended 31 July 2025 which are set out on pages 6 to 11. 

## **Respective responsibilities of Trustee and examiner** 

The trustee, who are also directors of the company for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 ('the Act') and the Charities Accounts (Scotland) Regulation 2006 ('the Accounts Regulations'). The trustee consider that the audit requirement of Regulation 10(1)(a) to (c) of the 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 was carried out in accordance with regulation 11 of the Accounts Regulations. An examination includes a review of the accounting records kept by the company 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 you as trustee 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 the course of 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 Act and regulation 4 of the Accounts Regulations; and 

   - to prepare financial statements which accord with the accounting records, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) and in other respects comply with regulation 8 of the Accounts Regulations 

have not been met; or 

2. to which, in my opinion, attention should be drawn in order to enable proper understanding of the financial statements to be reached. 

This report is made solely to the company's Trustee, as a body, in accordance with regulation 11 of the Charities Accounts (Scotland) Regulations 2006. My work has been undertaken so that I might state to the company's Trustee those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustee as a body, for my work or for this report. 

Natalie Boyle 

Institute of Chartered Accountants England & Wales 

**AAB Audit & Accountancy Limited** 133 Finneston Street Glasgow G3 8HB 

16 April 2026 

Page 5 

## **CANAN ALBA LTD** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2025** 

|**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>**1**<br>**1**|**Total**<br>**funds**<br>**2025**<br>**£**<br>**1**<br>**1**|Total<br>funds<br>2024<br>£<br>1|
|---|---|---|---|
||||1|



Page 6 

**CANAN ALBA LTD REGISTERED NUMBER: SC138868** 

## **BALANCE SHEET AS AT 31 JULY 2025** 

|**Note**<br>**Fixed assets**<br>Investments<br>3<br>**Current liabilities**<br>**Total net assets**<br>**Charity funds**<br>Unrestricted funds<br>**Total funds**|**2025**<br>**£**<br>**1**<br>**1**<br>**1**<br>**1**|2024<br>£<br>1|
|---|---|---|
||||
|||1|
|||1|
||||
|||1|



The Company was entitled to exemption from audit under section 480 of the Companies Act 2006. 

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. 

The Trustee acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustee and signed on their behalf by: 


## ................................................ 

## **Dr D Munro** 

## Date: 1 April 2026 

The notes on pages 8 to 11 form part of these financial statements. 

Page 7 

**CANAN ALBA LTD** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **1. Accounting policies** 

## **1.1 Basis of preparation of financial statements** 

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

Canan Alba Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## **1.2 Going concern** 

In preparing these financial statements, the Director of the company has given careful consideration to current and anticipated future solvency requirements of the company and it is the intention to wind up the company in the next 12 months following the date of approval in the next 12 months. 

Based on the considerations detailed above, the financial statements have been prepared on a nongoing concern basis. 

## **1.3 Investments** 

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities. 

Investments in subsidiaries are valued at cost less provision for impairment. 

## **1.4 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Company and which have not been designated for other purposes. 

## **2. Trustee's remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). 

During the year ended 31 July 2025, no Trustee expenses have been incurred (2024 - £NIL). 

Page 8 

## **CANAN ALBA LTD** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **3. Fixed asset investments** 

|**Cost or valuation**<br>At 1 August 2024<br>At 31 July 2025<br>**Net book value**<br>At 31 July 2025<br>At 31 July 2024|**Investments**<br>**in**<br>**subsidiary**<br>**companies**<br>**£**<br>**1**|
|---|---|
||**1**|
||**1**|
||1|



## **Principal subsidiaries** 

The following was a subsidiary undertaking of the Company: 

|**Name**|**Company**|**Registered**|**office or principal**|**office or principal**|**Class of**|**Holding**|
|---|---|---|---|---|---|---|
||**number**|**place of business**|||**shares**||
|Canan Ltd.|SC216826|Sabhal Mòr|Ostaig, Sleat Isle of||Ordinary|100%|
|||Skye, IV44 8RQ|||||
|The financial results of the subsidiary for the||year were:|||||
|**Name**||**Income**|**Expenditure**|**Profit/(Loss)**||**Net assets**|
|||**£**|**£**|**for**|**the year**|**£**|
||||||**£**||
|Canan Ltd.||**17,050**|**(5,868)**||**22,918**|**1,187**|



The financial results of the subsidiary for the year were: 

Page 9 

## **CANAN ALBA LTD** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

|**4.**|**Summary of funds**|||
|---|---|---|---|
||**Summary of funds**|**- current year**||
||||**Balance at 1**<br>**Balance at**|
||||**August 2024**<br>**31 July 2025**|
||||**£**<br>**£**|
||General funds||**1**<br>**1**|
||**Summary of funds**|**- prior year**||
||||Balance at|
||||1 August<br>Balance at|
||||2023<br>31 July 2024|
||||£<br>£|
||General funds||1<br>1|
|**5.**|**Analysis of net assets between funds**|||
||**Analysis of net assets between funds - current year**|||
||||**Unrestricted**<br>**Total**|
||||**funds**<br>**funds**|
||||**2025**<br>**2025**|
||||**£**<br>**£**|
||Fixed asset investments||1<br>**1**|
||**Total**||1<br>**1**|
||**Analysis of net assets between funds - prior year**|||
||||Unrestricted<br>Total|
||||funds<br>funds|
||||2024<br>2024|
||||£<br>£|
||Fixed asset investments||1<br>1|
||**Total**||1<br>1|



## **6. Related party transactions** 

The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 July 2025. 

Page 10 

## **CANAN ALBA LTD** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025** 

## **7. Controlling party** 

The Company’s ultimate parent undertaking at the balance sheet date was Sabhal Mòr Ostaig a charitable company registered in Scotland. Their registered address is Sabhal Mòr Ostaig, Sleat, Isle of Skye, IV44 8RQ. 

The ultimate controlling party is the trustees of Sabhal Mòr Ostaig. 

Page 11