2025-07-31-accounts - Isle Of Muck Community Enterprise Limited

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Charity number SC020510 Company Number SC139386

Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Directors’ Report and Financial Statements

For the year ended 31% July 2025

Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Reference and administrative information

Charity Number	5C020510
Company Registration Number	SC139386
Registered Office	The Power House
	Isle ofMuck
	By Mallaig
	Inverness-shire
	PH4i 2RP
Country of Origin	UK
Directors	EC Mackwen
	S C Mathers	(Resigned 1* July 2025)
	E Bidwell
	CL McGhee	(Resigned 1% July 2025)
	V J Mathers	(Appointed 2"! July 2025)
	K Sator	(Appointed3July 2025)
Company Secretary	EC Mackwen
Accountants	Nevis Accountancy ServicesLimited
	Office 6
	An Drochaid
	Claggan Road
	Claggan
	Fort William
	PH33 6PH
Bankers	Bank ofScotland
	PO Box 1000
	BX2LLB

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Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Independent examiner’s report to the trustees on the unaudited financial statements of Isle of Muck Community Enterprise Limited

| report on the financial statements of the charity for the year ended 31% July 2025 which are set out on pages 3 to 15 and comprise the statement of financial activities, the balance sheet and the related notes. These financial statements have been prepared in accordance with the Financial Reporting Standard [RS102 (effective January 2016), under the historical cost convention and the accounting policies set out therein,

Respective responsibilities of directors and independent examiner

The charity’s trustees (who are also the directors of the company for the purposes of company law) 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. ‘The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. [t is my responsibility to examine the accounts 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 Charities Accounts (Scotland) Regulations 2006. An 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 ofany unusual items or disclosures in the accounts and seeks 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 accounts,

Independent examiner’s statement

In connection with my examination, no matter has come to my attention

(i) 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 Regulation 4 of the 2006 Accounts Regulations, and ¢ — to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met, or

(ii) to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Mrs § R Kennedy FMAAT FCCA Chartered Certified Accountant Nevis Accountancy Services Limited Office 6 An Drochaid Fort William PH33 6PH

Date: SH, November 2025

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isle of Muck Community Enterprise Limited

(A company limited by guarantee)

Report of the Directors (incorporating the trustees’ report) For the Year ended 31" July 2025

The directors present their report and the financial statements for the year ended 31* July 2025. The directors who are also trustees of Isle of Muck Community Enterprise Limited for the purpose of charity law and who served during the year and up to the date of this report are set out on Page |.

Structure, governance and management

The charity is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association.

The methods used to recruit and appoint new charity trustees are identified in the Memorandum and Articles of Association.

The Company was registered as a charity on 20" July 1992 and became incorporated on the same date as a company limited by guarantee. Trustees are also members of the management committce, the latter body being responsible for the day to day running of the company.

Reference and administrative details

The name of the charity is Isic of Muck Community Enterprise Limited. Its Charity number is SCO20510 and Company Number is SC139386.

The address of the principal office and the address of its registered office is: Port Mor House, Isle of Muck, By Mallaig, Inverness-Shire, PH41 2RP.

The names of the charity’s trustees as al this report date or who served as a trustce in the reporting period are as follows:

EC MacEwen 8.C Mathers (Resigned 1" July 2025) I} Bidwell CL McGhee (Resigned I* July 2025)

Under the requirements of the Memorandum and Articles of Association the Directors are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

None of the directors has any beneficial interest in the company,

Objectives and activities

The objects and principal activities of the company are:

e To relieve poverty among the residents of the Isle of Muck (hereinafter referred to as the "Area of Benefit") ° To advance education among the residents of the Area of Benefit particularly among young people and the unemployed ¢ To promote and/or provide training in skills of all kinds, particularly such skills as will assist residents of the Area of Benefit in obtaining paid employment
e To promote, establish and operate other schemes of a charitable nature for the benefit of the community within the Area of Benefit, e ‘To promote trade and industry, for the benefit of the general public

In furthering these objectives, the charity constructed and now operates the community hall and in 2012/13 the installation of the Isle of Muck Power scheme was completed. This resulted in electricity from renewable sources being available to every member of the community 24 hours aday. Six island volunteers have been trained to run and maintain the scheme. The provision of 24 hour electricity will help deliver the charitable objectives of the company. The maintenance of the Isle of Muck Power scheme and the Community Hall will remain the primary concern of the Company. Enhancing maintenance training and facilities will continue and new possibilities for promoting the Company’s charitable objectives will be explored.

Achievements and Performance

Iste of Muck Power Ltd, the trading subsidiary of Isle of Muck Community Enterprise Ltd continued to supply electricity to all consumers on the Island. Funding for the Power Scheme Upgrade was approved by the Scottish Government and a contract was signed with Enerveo Ltd to undertake the work. The contract was mostly completed in March 2025 with a few snagging issues that the supplier will come back and fix soon.

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Iste of Muck Community Enterprise Limited (A company limited by guarantee)

Report of the Directors (incorporating the trustees’ report) continued For the Year ended 31" July 2025

The Community housing steering group and the Communities Housing Trust have been granted funding for the design of the proposed semicoordinationdetached houses on the site of the old primary school. Rural Design ,the appointed architects have completed the design ofthe houses in needed with the Muck Community. The building warrant has been submitted and we are still in the process of finding ali the funding to complete the build as well as waiting on a new tender to be sent out to contractors.

Plans for Future Years

Stage 2 funding for increased renewables generation will be applicd for.

The community Housing Project will start the construction phase once funding has been granted, We are finding funding and waiting on quotes as we only got | tender back last time. We are re-tendering. Financial Review

The financial position at the end ofthe year is total income of £340,681, total expenditure of £158,810 resulting in a surplus of £181,871. The majority of the surplus relates to the use of the funds to upgrade and improve the wind power scheme and it will be released as the depreciation is allocated to this project over the coming years. The village hall had a surplus at the end of the year of £4,929 and now therefore has reserves of £484,910 ofwhich £429,017 is tied up in fixed assets.

The main financial transactions however continued to be through the Windpower scheme where details are given in Note 15.

Reserves Policy The unrestricted funds represent surpluses arising from past operating results and are considered adequate for the foreseeable future. The Directorsthem. have assessed the major risks to which the company is exposed and are satisfied that systems are in place to miligate any exposure to

The trustees, therefore, do not have any uncertainties about (he charity’s ability to continue as a going concern.

Exemptions from Disclosure There are no exemptions from disclosure.

Funds held as custodian Trustee on behalfof others

Isle of Muck Community Enterprise Limited does not hold funds as a custodian ‘Trustee on behalf of others.

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Isle of Mack Community Enterprise Limited (A company limited by guarantee)

Report of the Directors (incorporating the trustees’ report) continued For the Year ended 31% July 2025

Statement of directors’ responsibilities

The directors (who are also the trustees of Isle of Muck Community Enterprise Limited under charity law) are responsible for preparing the Practice.Trustees” Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting

Company law requires the directors to prepare financial statements for cach financial period which give a true and fair view of the state of affairs of the charitable company and ofthe incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to:-

‘ Select suitable accounting policics and then apply them consistently ‘ Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
. Statethe financial whetherstatements, applicable andUK Accounting Standards have been follawed subject to any material departures disclosed and explained in - continuePrepare thein financialoperation statements on the going concer basis unless it is inappropriate to presume that the charitable company will

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which 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), and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.

Sarah Kennedy FMAAT FCCA of Nevis Accountancy Services Limited was deemed to be appointed as independent examiner and the directors recommend that Sarah Kennedy FMAAT FCCA remains in office until further notice.

Small Company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companics Act 2006. This report was approved by the Board and signed on its behalf by:-

V J Mathers Director / ; VV Ww Date: Sa November 2025

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Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Statement of financial activities (incorporating the income and expenditure account) For the Year to 31" July 2025

					2025	2024
		Unrestricted	Designated	Restricted	Total	Total
	Note	Funds £	Funds £	Funds £	Funds £	Funds £
Income and endowments from:
Donationsand legacies	2	16,392	-	4,966	21.358	8,820
Charitableactivities forgeneratingfunds	3	10,215	-	3,879	14,094	13,374
Charitable activities - grants	4	-	-	302,336	302,336	633,548
Other tradingactivitics		-	-	*	~	-
Investments	5	2,706	-	187	2.892	669
Other		=	-	-	-	-
Total Income		29,314	-	311,367	340,681	656,410
Expenditure on:
Raisingfunds
Charitable activities	6	13,643		128,271	141,913	114,672
Other - support costs	7	2,646	“	14,250	16,896	30,722
Taxon activities	9	-	-	-	-	-
Total expenditure		16,289	=	142,521	158,810	145,393
Netincome/(expenditure) fortheyear		13,025	-	168,847	181,871	511,017
Transfers between funds	25	(7,948)	-	7,948	-	-
Other recognised gains/(losses):		5,077	-	176,795	181,871	511,017
Gains/(losses) on revaluatoin offixed assets		-	-	-	-	~
Actuarial gains/(losses) on defined
benefit pension schemes
Othergains/(losses)		~	:	-	~	~
Netmovementin funds		5,077	-	176,795	181,871	511,017
Reconciliation offunds:
Total funds brought forward		45,505	4,767	1,831,919	1,882.19]	1,371,174
Totalfundscarriedforward		50,581	4,767	2,008,714	2,064,062	1,882,191

The notes on pages 9 to 15 form part of these financial statements

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Isle of Muck Community Enterprise Limited Company Number SC139386 (A company limited by guarantee)

Balance sheet as at 31" July 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Total|Funds|Total|Funds| |Note|£|£| |Fixed|Assets:| |Intangible|assets|*|-| |Tangible|assets|10|1,696,767|1,503,603| |Heritage|assets|a|=| |Investments|11|1|]| |Total|fixed assets|1,696,768|1,503,604| |Current|assets:| |Stocks|12|-|-| |Debtors|13|136,392|160,195| |Cash|at|bank|and|in|hand|340,744|227,746| |Total current assets|377,136|387,942| |Liabilities:| |Creditors:|Amounts|falling due within|one year|14|9.841|9,355| |Net|current|assets|or|liabilities|367.295|378,587| |Total assets|less|current|liabilities|2.064062|1,882,191| |Creditors:|Amounts|falling due|after more|than|one year|-|-| |Provisions|for|liabilities|-|-| |Net|asset or|liabilities|excludingpension|asset|or|liability|-|-| |Defined|benefit|pension|scheme|asset|or|liability|-|-| |Total|net assets or liabilities|2,064,062|1,882,191| |The|funds|of|the|charity:| |Endowment|funds|-|-| |Restricted|income|funds|2.008.714|1,831,919| |Total restrictedfunds|15|2.008.714|1.831.919| |Unrestricted|funds|16|50,581|45.505| |Designated|funds|17|4,767|4,767| |Revaluation|reserve|ws|=| |Pension|reserve|&|-| |Total|unrestricted|funds|55,348|50.272| |Total|charity funds|18|2,064,062|1,882,191|

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The notes on pages 9 to 15 form part of [these] [financial] [statements]
SSE SSS TS WEE
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Isle of Muck Community Enterprise Limited Company Number $C139336 (A company limited by guarantee)

Balance sheet as at 31“ July 2025 Continued

Directors’ statements required by Section 477 of the Companies Act 2006 for the year ended 31" July 2025

in approving these financial statements as directors of the company we hereby confirm:

a) 2006that for the year ending 31“ July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act b) that no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 31 J uly 2025
c) that we acknowledge our responsibilities for: 1) ensuring that the company keeps proper accounting records which comply with section 386 of the Companies Act

2) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and o7 its surplus or deficit for the year then ended in accordance with the requirements ofsections 394 and 395, and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company and in which the methods and principles in the Charities SORP and all applicable UK accounting standards have been followed These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard FRS102 (effective January 2016).

The financial statements were approved by the Board and signed on its behalf by:

VDirector J Mathers

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Date “SYA November 2025

The notes on pages 9 to L5 form part of these financial statements

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Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Notes to the financial statements For the Year ended 34" July 2025

Accounting Policies

L.2

1.3

L.4

1.5

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year. There are no material uncertainties about the charity’s ability to continue. The charity is a public benefit entity.

| Basis of Accounting

These financial statemenis have been prepared in accordance with the 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 the Republic ofIreland (FRS 102 effective 1 January 2015), the Charities Statement of Recommended Practice (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Companies Act 2006.

Assets and Liabilities are initially recognised at historical cost or transaction valued unless otherwise stated.

The presentation currency of these accounts is in pounds sterling.

Income

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. ‘The following specitic policies are applied to particular categories ofincome:Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable.the Grants, where entitlement is not conditional on the delivery ofa specific performance by the charity. are recognised when charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included, Grants, including grants for the purchase of fixed asscts, are recognised in full in the statement of financial activities in the year in which they are receivable.

Income from investments is included in the year in which it is receivable.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part ofthe expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitableincludes expenditure comprises those costs incurred by the charity in the delivery ofits activities and services for its beneficiarics. It both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Fund Accounting

Unrestricted funds are those available to use at the discretion of the Directors in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are those unrestricted funds which have been set aside by trustees for an essential spend or future purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

Tangible Fixed Assets and depreciation

Depreciation is provided at the following annual rates calculated to write off the cost of each asset over its expected useful life as follows: Wind Power Plant Straight line over 20 years Computer/ Radio Equipment Straight line over 3 years Village Hall Equipment Straight line over 5 years Land & Buildings Straight line over 40 years Fibre Optic Equipment Straight line over 5 years

a

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Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Notes to the financial statements continued For the Year ended 31 July 2025

1.6 Stocks

The accounting policy adopted in measuring the value of stocks was the lower of cost or net realisable valuc.

Donations and legacies

Donations and legacies
			2025	2024
Unrestricted		Restricted	Total	Total
	Funds EE	Punds £	Funds £	Funds £
General donations MOWI Annual Contribution to theCommunity Isle of Muck PowerLimited	1,502 14,890 :	4.966 - =	6.468 14.890 -	$.820) - 2
	16,392	4.966	21,358	8.820
Charitable activities forgenerating funds
			2025	2024
Unrestricted Funds		Restricted Funds	Total Funds	Total Funds
	£	£	£	£
Hireofhall Subscriptions Calendar sales Village hall sundry Highland Council—ComfortScheme Pierincome	- - - - - 10.215	640 164 669 - 2.406 -	640 164 669 - 2,406 10,215	- 355 837 - 2,600 9.581
	10,215	3.879	14.094	13.374
Charitable activities - grants
Unrestricted Funds		Restricted Funds	2025 Total Funds	2024 Total Funds
	£	£	£	£
Community RegenerationFund MacKintosh Foundation Mowi Communities Housing ‘Trust Scottish Government—EnergyImprovement Highlands& Islands Enterprise-Decarbonisation ofElectricity	2 - - - a -	- - - = 302,336 -	- - - # 302.336 -	28,500 5,000 20,000 2,780 551,737 23,531
	-	302.336	302.336	633.548
InvestmentIncome
			2025	2024
Unrestricted Funds		Restricted Funds	Total Funds	Total Funds
	£	£	£	£
Interestreceivable	2.706	187	2.892	669

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Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Notes to the financial statements continued For the Year ended 31" July 2025

6 Expenditure for Charitable activities

						2025	2024	2024
		Unrestricted	Designated		Restricted	Total	Total
		Funds	Funds		Funds	Funds	Funds
		£	£		£	£		£
PierDuties Depreciation Community HousingConsultancy		9.490 246 -	- - -		- 113,515 ~	9.490 113,761	7,634 98.425
Insurance Fund Raisingexpenses Computers&Software Calendar cost		3,839 - 66	- - -		1.144 - 2,482	~ 4.983 - 2,548		- 4.416 750 91
Maintenance Cleaning Sundry		- - - I	- - “ -		- 8,747 - 2,382	- 8,747 - 2,383		- 2,628 87 640
		13.643	-		128.271	141,913	114.672
7	Expenditure forOther costs -Supportcosts
		Unrestricted Funds £	Restricted Funds £			2025 Total Funds £		2024 Total Funds £
	Independent Examination Accountancy Services Legal&professional fees	200 2,446 -	- - 14.250			200 2,446 14.250		200 2,004 28.518
		2.646	14.250			16.896		30.722
8	Employees
	Employment costs:				2025		2024
	Wages and Salaries				£		£
	Social Security Costs				-		-
	Employer’s Pension contribution				-		-
	Other employee benefits				- a		- __-
	Directors received emoluments of £Nil during theyear	year(2024 £Nil)
	Number ofemployees
	Theaveragemonthlynumberofemployeesduring theyear, wasasfollows:				2025		2024
					Number	Number
					0		0
	Noemployees receivedemployee benefits (excludingemployer pension costs)ofmore				than £60,000,
	Thekeymanagementpersonnelofthecharityare the Directors. Thetotalemployee ENil (2024: £Nil),		employee	benefits ofthekeymanagementpersonnel are
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Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Notes to the financial statements continued For the Year ended 31 July 2025

9 Taxation

The charity’s activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 2010. Accordingly, there is no taxation charge in these accounts.

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |10|Tangible|Fixed|Assets| |Cost|or|Valuation|BuildinesLand|&|PowerWind|Computer:/Radio|VillageHall|OpticFibre|Total| |.|e|Plant|Equipment|Equipment|Equipment| |£|£|£|£|£|£| |At|Ist|August 2024|667,698|1,627,657|20,471|10,125|1,232|2,327,183| |Additions|-|306,925|-|-|-|306,925| |Disposals|-|-|-|-|-|-| |Revaluations|-|-|-|-|-|-| |Transfers|-|-|-|-|-|-| |At|31™|July|2025|667.698|1,934,582|20,471|10,125|1,232|2,634,108| |Depreciation|and|impairments| |At|Ist August|2024|216,978|375,207|20,471|9,939|986|823.580| |Disposals|-|-|-|-|-|-| |Charge|for the period|16,692|96,729|-|93|246|113,761| |Impairment|-|-|-|-|-|-| |Transters|-|-|a|.|=|&| |At 31st|July 2025|233,670|671,936|20,471|10,032|1,232|937,341| |SS|=|=——S|ES|ES|——| |Net|book|value| |At|31st July|2024|450,720|1,052,450|-|186|246|1,503,603| |At|31st|July|2025|434,028|1,262,646|-|93|-|1,696,767| |Investments| |2025|2024| |£|£| |16 ordinary|Shares|in|Isle|of Muck|Power|Ltd|I|I|

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Stocks

The carrying amount of stocks was £Nil (2024 - £Nil), There was no amount of stocks recognised as an expense. There were no charges for impairment.

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ESLLL

Isle ofMuckCommunity EnterpriseLimited (Acompany limited byguarantee)	Isle ofMuckCommunity EnterpriseLimited (Acompany limited byguarantee)	Isle ofMuckCommunity EnterpriseLimited (Acompany limited byguarantee)
Notes	to thefinancial statements
For the Yearended 31" July 2025
13	Debtors
	Amounts fallingduewithin oneyear:
					2025		2024
					£		£
	Trade Debtors
	Amountsowed bygroupandassociated undertakings Prepaymentsandaccruedincome Other debtors				I 130,204 6,187		401} 130,504 4.278
					-		25,012
					136.392		160,195
14	Creditors
	Amounts fallingdue withinoneyear:
					2025		2024
					£		£
	Accruals forgrantspayable Bank loans and overdrafts				-		-
	Trade creditors				-		-
	Amountsowedtogroup and associated undertakings Paymentsreceived onaccount forcontractsorperformance-related Accruals and deferred income Taxationandsocial security Other Creditors			grants	10 - = 9,533 298		675 - . 8,680 -
					-
							-
					9.841		9.355
15	Restricted Funds
		At 31*July 2024	Incoming		Outgoing	Transfers	Alt 31"July
		£	£		£	£	2025 £
	Village HallAsset Fund Village Hall RevenueFund Windpower SchemeAssetFund WindpowerSchemeMaintenanceFund Community HousingFund Lifesaving Equipment&Training WindpowerSchemeRevenueFund	445,709 50,964 1,067,304 100.000 5,762 5,000 157,180	= 9.031 302,336 - - - -		(16,692) (4.102) (102,229) (3,787) (13,710) (2,000)	- - - - 7,948 -	429.017 55,893 1,267,411 96,213 - 3,000
					-	-	157.180
		1.831.919	311,367		(142.520)	7.948	2.008.714

perThe Villageannum. Hall Asset Fund is the funds received relating to the purchase of the local village hall and is being depreciated at 2.5% SI. The Village Hall Revenue Fund is the net income from the use of accumulated the local village hall by the community for various events, The The funds are to be used for the benefit of the local community, Windpower Scheme Asset Fund is ihe capital of The the wind powcr equipment being depreciated at 5% SI, per annum. The Windpower Scheme Maintenance Pund is keeping funds aside should the equipment require any maintenance. The Community Housing Fund is funds received for consultancy fees to pursue the building of some houses for the com munity. The Lifesaving Equipment & Training fund is a donation received from Smith specifically for this purpose. maintenance andWindpower Schemefuture replacement Revenue Fund and is expansion. the accumulated income from the sales of power. All income goes to annual ongoing

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Isle of Muck Community Enterprise Limited (A company limited by guarantee)

Notes to the financial statements

For the Year ended 31" July 2025

16 Movement in Unrestricted Funds

		Al					At
		31°July	Incoming	Outgoing		Transfers	31*July
		2024					2025
		£	£		£	£	£
Unrestricted Fund		45.505	29,314		(16,289)	(7.948)	_30,581
Movement in Designated Fund
		At					At
		31" July	Incoming	Outgoing		Transfers	31" July
		2024					2025
		£	£		£	£	£
Youth Training	Fund	4,767	-		-	-	4.767
Analysis of net assets between funds
			Unrestricted	Designated	Restricted
			Funds	Fund	Fund		Total
			£	£	£		£
Fixed assets			-	-	1,696,767		1,696,767
Investments			-	-	l		1
Current assets			60.422	4.767	311,947		377,136
Current liabilities			(9.841)	=	-		(9,841)
			50,581	__4.767	2.008.714		2.064.062

Company limited by guarantee

Isle of Muck Community Enterprise Limited is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required, not exceeding £1, to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

Directors’ expenses

There were no expenses reimbursed to Directors during the year (2024 - £Nil).

Financial Commitments

At31™ July 2025 the company has no annual commitments under non-cancellable operating leases (2024 - £Nil).

Volunteers

The trustees would like to record their thanks to all the volunteers who dedicate a significant amount of time for no remuneration to the charity,

23 Related Party Disclosures

Isle of Muck Community Enterprise Limited own the whole of the Issued Share Capital, of Isle of Muck Power Limited. Isle of Muck Power Limited operates under a licence granted to the company by Isle of Muck Community Enterprise Limited which owns 16 shares representing 100% of the Issued Share Capital.

Donations received include £Nil (2024 - £Nil) donations made under Gift Aid to Isle of Muck Community Enterprise Limited by Isle of Muck Power Limited. At the year end Isle of Muck Power Limited owed the company £130,204 (2024 - £130,504).

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Isle of Muck Community Enterprise Limited

Notes to the financial statements For the Year ended 31™ July 2025

(A company limited by guarantee)

24 Control of the Company

The company is controlled by the trustees.

25 Transfers

There was an overspend with the professional fees for the Community Housing Project and therefore £7,948 of funds were moved from Unrestricted Funds to cater for this.

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