Company Te*ion nurnFw. SC144749 Clty r¢gistration number.. 21607 Colonsay &nd Oronsay Heritage Trust (A ¢ompatry illnÈlcd by gu8Trnte¢l Anllual Report and Financial St2tenKllts for the YearFJMled 31 fvtarch 2026 Efric M McN¢il BA GIons) CA CIOT Dunlop & Co CA KJ)o¢kbay House KiIke[ra Road CaTrJpbeltt>v PA28 6TN
Colonsay and Oronsgy HerRtsge Trust Contents TDJStee5' Report 2to6 Statement of Tnjstees, ResEK)nsibiltties Independ•)t ExamiD&s Rewt Statement of Financial Activities Balance Sheet 10 Noies to the FiDallciaJ Statemoits llto20
Colonsay and Oron5ay Heritsge Trust Reference and AdMitrathTe Detsils Chirlty Registrxtioll Number: 21607 Cony8ny Regt5trntioD Numljer SC144749 Country of IncoryoratAon Oad Cjo Caml MacNeill DrU¢[aCh ]sle of Colonsay PA617YR ]ndepeDdeMt Exanthier Efrit M McN¢it BA (Hons) CA CIOT thjnlop & Co CA KkbaY House Campbel Ar8yII PA28 6JN Page I
Colonsay 2nd Oronsay Heritage Trnst Trustees, Report Th¢ trustees. WILO are directors for the pu[pOs of compatly law. prwnt the anllual rq together with the fioancial statell)lts of the ¢l]aritable company forthe year ended 31 March2026. Objectives and actmtks Objects The Trnst's principle objective is to estabhsb ott the islaThJ of Colonsay in ArgylL au 8rchive aThl muso]nE centre to bc called th¢ Colonsly and Oronsay Huitage Centr¢ or Museum. To preserve the lin8uisti¢ heritage of the isja1 and encoulw Pllblic inl¢r¢5t iu Gaelic language and culture. To stimulate interest and c(wcration in preservin8 local history 8tMI c(ving the environtn¢nt of the isknds. To initiate and facilitak projects which will Ixnefii the la1 and e¢onomi¢ Etfe of the comrnbDity Pmbhc benefil The TnJses have paid due r¢gArd to guidance issued by the Office of th¢ Scottish Charities Regulator in deciding wh activitie5 th¢ Crity slwmjld undertake. The Charity is underyijwd by the goodhryll and artive i)3rticipatior¢ of a of volun*ern from the local COtnIuiullty Incl but not exclusive to, the boatd of dttcctoEs. Tbroughout thc years Voltter5 are inte8] to fithisiD8 artivities and to the ptovisioll of seThI8 to th¢ cDmTnutiity thTough the facilities offere4J by the dmrity. Trn$tees and officers The ttU5t¢¢s 8t officers serving during the year attd since the yw eud were &8 follows.. Trustees: Mr David Binnie Carol MacNeill Mr D&vid Hobhouse Mr5 Katharine Joll Mr Donald MacNeill MrKeith Rutberford (resigned 30 November 2025) FAT5 Diane C]th (resisDed 9 June 2026) Page2
Colonsay gnd OrOnY Heritage Trust Trustees, Report Struetllrfy governant¢ and management Or8&wsqtionol strn¢thr The Chariry is a charitabl¢ compaAy limited by 8UarnDtee a1 does not hwe shaT¢ capitaL inCorpoted on 4 Jne 1993 and re8i5tered as a cljarity on 4 JuDe 1993. AchKv¢nxllts artd Perfor0te Membership In November 2025 Keith Rutherford the rnembEthip se¢fftsry. decidthl to step dowv as a Trustee after over 25 years setvice to the Trngl. A special p]ESenlon was hdd after the AGM in respe£l of his eontrJl)utio and he was granted honorary lifr membasbip. The Trust has coniirtued lo have a very Wive llMJbttsbip with 71 residert island munbeES. 86 as&o¢iate member3 and 10 Honorary lift tmnbcrs. P8gc 3
Colon$ay and Oronsay Heritage Trust Trnstee5' Report ACtitieS Proposed New PreDthe5 tn the SUEllTllf of 2025. & Trust iyere approached by th¢ Owll5 oftbe brewery utiit in Scalasaig &bout the )ssibility of pu]rhasing th¢ir pmses to create a n¢w bwoke heritage ¢entsY. Negotiations hav¢ progresse<i ttLe purchase price ofthe site awd and legal PrdIngS iiJsti8ate(L An ektyaordillary geDeTo1 meeting open to tbe publi¢ was held carly Mah to pr&seDt the pr(N)SaI io rnov¢ ro llew premises. At the meetitig the aSPda introdut¢d a back8round to the followed by litDilatiorts of tl* cllrt premi, inforniatioD on thc proposed new sit4 the adYanta8es alld cballenges. The next steps towar(ts the project were outlined ftedback obtained Tbe gelleral TCSPODSe w the wwal has beett very positsve. The Trust applied the Scottish Fund for tILe purchase price of £55.(X)O and have becn successful in reaching stsge 2 Of application which provits fitixtitig for pryaring a busines5 valuation and planning costs towards wepariDg the flnal fuThJing applicatioK. There is a sknrt time W1W for thc pmtess, alld a final d¢cision is not expected until Aulumll 2026. This fits ill with th¢ tffewoy thrEdor5 who WAth to c¥)ntinue trading )til December 2026 at the Earliest. This is an excititig developraent for the Trust and the conjrnuniry PrOde security. encournge fvttare deyeloprnent, education, exwdnsion 2nd oprIllty for incrEase collaèA)r8tion witb outside agttKIcs. Other A¢tRvitie5 The Trust bas bad illvo]vement ID several ongoing a1logI1 projects alld various activities in the centre itself. OraDsa GravestQllf6 The Trust wntinucs to b¢ iuvolved with the Or8u5ay Grdveston¢ pmj¢¢t worthuated by HES. With a grant of £1 1,000. monstorin8 was set up tn the Priors house by stone conservator Nic Boyes to eva]uate the cuJrenE ¢ondiiions of the one$ and decide on n¢xt Ste to ittjprove the condiIioL8 in the Prio[5 House. At the end of rclj 2025 Nic publislkd his re)rt which det#iled a eoowTebensive li%t of prObleD identified both in damage to tbe stones themselves but also the condiuon of th¢ Ptiors House building in which they are stored Tal(ing fon¥ard the recomn)elldations of the rqk)rt lits with HES Mrs Colburn h&s otyeffd the option of goirtg for a ll¢W dedicated sit¢ outwith the Priors House. This option h&s incluthd in H&8 pJaDs. Rias Buidh¢ Cro&8 COHT bas been fortuDate to have the sup[ ofS]LatDn Webb of Kijllwtso Musewll to tske forvord the proje¢i in a sia8ed approa¢b ill Conju110 with HES to examiw fier the stone Cross frgllllt held in the centye and whether it is the base of the Riasg Buidhe cross situated in ColoaY House GardeD8. Th¢ Trust obtain¢d a £1.6(M) grani from the ¢omllEuwty fimd al Tn October of this year a visit fro Adrian Maldonaldo, Curator and Vikittg expert based at the Thational Museum in Edinbutgh aryl Rowan Gillis a stone conseryalor. The report of this visit a] ¢onet]datIOnS are auttited but it has rniSEd issues of tt]re cons¢rvatioty exatllining the cross fiCr, takillg accurate casts atbj matching the frawt to th¢ ctoss. W¢ Iwl a very ]nfoTmative and well atleltded talk from Adtian as part of bis ViSiL What clearly c2rlle over is how imporrant aDd unique the Cross in the 8ariJ¢ns is. Colojsa in20 This ongoing series of talking around objects or tbemes from the Isd and facijitated by Ju]ia and Rllpert Middleton continued with Mary Csrniicl&2el ta]knng about egdy lif¢ on Cololtsay from rdings she made i the 1970s. Kevin recwited bis ¢[Y dais in the htI and sknwed th¢ h(rtel bEll. Julia has recorded these eveats, tbey are oow avai]able onlia Bui Thc beautifully aw4ll8ed panels displayiDg the ljistory of the Biosg Buidbe settlement and the subsequent lljove of the residents to GIard in the 19205 wer¢ prepared by Mary Canni¢hael who has an extenstve knowltyjge of the I11 hisiory. Itl June NIary gave a well attad attd pylar pre5entstiOts as a lebrdtiOn of the Rias8 Buidhe pallels. Page 4
Colonsay 2nd Oronsay Heritage Trust Trnstees, Report Th¢ Trust Fw continued to promote the se of the building for other events. Musica] eYetiillg5, tsll(s. Hebrid¢an berSong workshop. fihn nigbi and the I1 knitting group for il's V4r¢kRy winter meetings. Futs]rc projects n]&y also include fiuther excavations al CTLQC nan Gall Mad]rins for a Te extensive exeavation of the ktb)wn Viking burial site propwd by UHI. We are 8fdtefiJl for local support and th¢ varAou¥ donations to our collection OV the year, iticluding a 1org¢ quern stone, a selection of photographs tskell by Ge¢)rg¢ Ward courtesy of lohn Maclntyre. a display case from Ki]nwtin. Marlin Spike, woolly bats, Gaelic In"ble alld 8 generous finan¢iaI d¢nation from fn)Tn the sale of his book, the Pilgrill Trail. David Jardiae dotWed bis extensive postrd Collectio with the sugwtion their sale migbt h¢lp ratse fimds for the trwL Book sale5 of Diane and Dill8 illtroduction the islatMI have contitiued stsdity a1 th¢ i]]itial edition is ost now sold OUL We have arranged for a reprillt in 2026. Thanks to Car(pl who has colltinua to priNthe regular ewsletseAs kewg w D)ern up to date. Bail¢ lodr8ch A This ptoject was PTOW)seJ by AOC Arcbaeol¢)gy ill Jalluary 2025 to Co OUL ill conjunction witb COK[, an aTcha¢ologicaJ and coastal surycy ID Kilch&ttan where there VRS Iron Age burial sit¢ fitst identifjed in 2020. Some fiD8ncial support for the project from the local con]munity fulld agreed but due to tbe overall ittcrea5ed ¢osts and inability to recott¢ile thtse with available HES and NiF grants the project w UltiatelY shelv. A disawoinknen¢ but in the light of the projected WOTk invofvtyj iu the rnov¢ to llew premises, probably for the FLst. Heritage Centre In January 2025 the ridge sustained seYer¢ storni dajnage. and a temporary repair vas affected by oue of the siees. Following settlement of 2n iyjsurance claim by the &sta*, repaits the ridge and slate daage were &8rricd ow by McClam¢y & Laird iti June 2025. Dat]nie Onu attended ont of out eetingS ad gave a to tbe local plan CCDC collating. COHT hev¢ $tsked an iTLterest in the Tn¢ for hctif2ge &5pects in this development p Page 5
Colonsay and Oronsay Heritage Trust Trustees, Report The organisatton had a general fimd sutplus of £24257 Totsl funds ai the Ye c1 were £25,136 of whtch £879 were restrictcdand£24257 w¢re general. It is the policy of th¢ Charity that utll*ÉCj fjJDds which haye llot be¢ll Iksiwal for a specific us¢ sP)]d be maintailled at a level equivalent t(p between three and srx months tKpfflditure. The Trnstees consider tIt rcsetves at ihis level will ensure thaL Én tbe event of a 5igllificallt dmp in fulldin& they will be able to continue the Charity's Current acfiwties where coJ]sid¢ration is giv¢n to wa)s in whith the additional fijttds may be ]Hised. This kvel of rc8crYes ha5 been throughow the year. The organisatiort had £24,257 at the year end for genetal pwposts. The furds are Ild to assist the orgaDisation in achieving its objectiv¢s and covering n18 c4)5ts. The principal fimding 80llr in the poiod were ts. along event4 mernbersliw booklets alld calendar sgle5 and other general donation The Trn$te&y have a&%essed the major risks to whith the Cbariry is alld are tiSffied that tbe systeD]s are iti place to n)i¢iwe extxwre to the majorrisks. The annual report vrdg 47proved by th¢ tTrLStS of the charity (pn....... .. ....... and sig1 on its behalf by.. Mr David Binuie Tn2s1e¢ Page 6
Colonsay and Oron$ay Herfitage Trust Statsment of Tn, Responslbltldes The tNstees (who are also the directors of Colonsay and Oronsay Heritage Trnst for the puws of Company law) are resEN)nsible for preparing the trustees, report and the finall¢ial thtemEDts IE accordance with applicable law Unitrd Kingdo Accouting Stalldards (LIDited KiD8(kMn GeDeraity Accepted ACCOltIng Prdcti¢¢), ill¢luding FRS 102"Tbe Financi RwrtiD8 Standard applicablc ID the LX aod Rq)ublic of Ireland" Company law rquire5 the tne¢S lo prepare financial stsments foi rdckn financial year. Under eomparty law the trnstees not approve the financ1 statements unle55 are satisfied that they give a lrn¢ aud f&ir view of thE state of afftits of tbe clharitable company aod of th¢ incoming r¢sour¢es and application of resources, incluthng ils income and expendirLry of the GhaTitable MpanY for (lt peTiod. lu pr¢parin8 these finawial st&tement4 the tnjstees are required to: Select Suitable accounting tolicies and apply coJ]sistetJty. obserye the methods athl principles in the Chariti&S SORP., Jake judgerncnts and cstirnatrs that arc reasonable and pnthi; state whether 4ppli¢abl¢ ac¢outsting sthndbrth. eonjprisitig FRS 102 bave been followe4 SUbjt to any material depart ¢Jis¢losed and eKplaiDed in the fiDaucial stateznO aDd prepaJE the finan¢ial statemellts on the going ¢oncern basis 1¢$8 it is ill4)propriate to presune that the charttable ¢ompaTty will ¢ontitMe iti TrRK%iness. The trustees are rwonsible for k¢epiDg proper acc(wJnting that L¥ll disc105¢ with TAsonable a¢¢ur8cy at any time the fillattcial position of the charitable company and clble to ellse that the financial staments ¢0pIY with the Companies Act 2006, Charities and TnLdee knveslrneDI (Scotland) Act 2005 and The Charities AccouDts (Scotland) Regulations 2(M)6 (as amended). They are also reSpOLb]e for safeguardillg the &ssets of the charitable company 2nd for takiog rea$0[b steps for the PFEVelltiOll 8nd detection of fraud and oth¢r iegUar]I1c$. The ttustces are rcspoJ)siblc for the moilltejwtce and integrity of and finwiai irLfomMtion included on th¢ charitable ¢(rtnpanys wtbllte. LegislatioD governing the preparation and thss¢mination of fuw)ci81 stotemellts nbay th.ffer fro 1¢Sl0 in other jurisdictions. Approved by the trustees of the cbarity ....... .. .. and Si8Dcd on itslxhalf by: Mr David Bifjnie Ttre PagE 7
Colonsay gnd Oronsay Heritage Trust Independent Examiller's Report to the tru5tee5 of ColoRsay and Oronsay Heritage Trust ('the Company,) I report on the of the c&trity for the year ended 31 March 2026 which are set 01rt4)D pages 9 to 20. Re4poL8ibilitie5 and basi8 of report The ChIty'S dwt¢es (who ar¢ also the dir¢¢ton of the c4)TDpanv the pwpos¢s of company law) ar¢ responsible for the preparation of the ac¢outsts in ac¢othce with the t¢m)s of the Chalities and Tntr Inyestsnent (S¢otland} Ad 2005 and th¢ Chatities A¢counts (SctstlaDdj Regulations 2006 las am¢ndedl. Th¢ charity trustees con5it£er the audit requirement of Regulation 1011) la) Éo (c) of the 2006 Accounts R¢gulations does not appty. li is r¢srx>nsibility to exarni the xcounts a5 required UDd¢r section 44(1} (c) of the Act alld to stats whether particulaT matters bave eome to my atteDIi Basis ofindependent ex2mRner's statemeDt My examination is ¢aJYied out iti a¢wrdaDce wtti Regulatton 11 of the 2006 A¢¢ounts Regulations. An examination includes a review of the accountillg tccord5 kept b}. the charity ad a compaTi50n of the aGCOWLts Prttented with those records. It a]so include5 considerdtion of any unus7 items or disclosures in the accoun and s¢eks explgJJtitions from the tru5tee5 cofKerning any such ntter5. The proccdures utLdertaJ(en th) not provide all the evidence that would be wuired in an audii aud cons¢qu¢lltly I do not express aD audit opinion on the view given by the accouDts. ldepedent examiner s stste]ueLt In the cvut5e ofmy cxalaO no matkr lths my atreDtion l. which gives m¢ reasonable ra¢ tt> belicye that ID any material rGsrKct the requirernents: . to keep accounting records in aecordaace with Section 4411} {a) of the 2005 Act and RegulatioTh 4 of the 2006 Accounts Regulatiotls . to pr¢par¢ a¢counts whi¢h accord with the accounting records ad cOPIY with R¢gulau"on ¥ of the 2006 A¢¢ounts R¢gulatioL8 haye not been meL or 2. to which, in my opinion, attention should be dtawD itj order to cDable a proper understsllditsg of the arwunts to bE r¢ached. Efric M MGNeil BA (Honsl CA CtOT Dunlop & Co CA Knockbay House Kilkerran Road Clpbelt0wll Ar8yII PA28 6JN Dat¢.. Page 8
Colonsay and Oron8*y Heritage Trust Statement of Thancial Activities for the Year Ended 31 March 2026 (]ncluding Income and Expenditure Account and Statemellt of Total Recognised Gains and IAJ5ses) Uffjrestrkl Restritted flllld$ fund8 Total 2026 Note Ineome and EndoTvments frotTr: Donations and legacies Total incoll 1.600 5,590 3,990 1,60D 5,590 Eend1tsre on: Raisillg fidS Charitable aetivities (1,518) (2.gW) (1,6731 (3.1911 2,994 Totsl eKPEndtture Net expenditure TraJ)sfers between fund 4.512 {1.673 (6,185) (522) 2,784 (73) (2.784) (595) Net roovcrnent in futtds 2262 (2.857) {595) Reconclilation of Total fi]nds brought fonYoJd Total funds canied forward 21.995 3,736 25,731 14 24257 Unrestricted fuDds 879 Restricted fullds 25.136 Totsl 2025 Note lttcome aRd EndowJtteBts from: Donations and legacies 3.143 11,320 14,463 Totsl in¢ome 3,143 11.320 14.463 Expendlthre on: Raisillg funds Charitable activities (339) 4.375) (162401 (16,5791 4.3751 Total ¢X]di[re 4.714) 1162401 20,954) Net expenditure Net moyemtttt (1.571) 4920 (6,491 (1571) (4,920) 16,491) RecontllAation of fun(is Total fi]nds bmught forward 23,566 8,656 32222 Total fid8 caTri¢d fonvard 14 21,995 3,736 25,731 All of the ebarity's a¢tsvities derive frolll continuing opentious during tbe alN)v¢ two perio(L The fvnés breakdoThTr for 2025 is 5howD in note 14. The notes on page5 11 to 20 fomi an ititegT31 pth ofthese fillane1 %tatem¢nts. Page 9
Colonsay and Oronsay Herltag¢ Trust (Registration number: SC144749) Balance Sheet at 31 March 2026 2925 Ftted assets Tangible assets io 23 29 Current assets Debtors Cash at baDk ill baud 11.320 15.246 12 27,139 26,566 CTeditor8: Amowits fajbng due wltlthi year 13 (2.026) 864 et curreDt 25.113 25.702 Net 25.136 25,731 Find5 of the cbaTIty: Restrlrted thfome fvnds RtrActed fimds 879 3,736 nrestrACted UDrestricted funds 24257 21,995 Totaifoud$ 14 25,136 25,731 For the financial yrar ¢ndillg 31 MaT¢h 2026 the C1ty etititied to exemptiorL from audit lld¢r sectioll 477 of tbe Compatiies Ath 2006 relatIg (o small c4Jowies. TnL8tees r&spoDsibilities". accordgtsc¢ with section 476. and The dirthrS acknowledge their responsibilitie6 for ¢OD)plying with thc reqylrts of the Ad with respert to ac¢owiting and the prq)aration of accoutlts. Th¢ fuwjcial ststernents on pages 9 kn 20 were apwJY by tht trustecs, altd authotised for issue on and oll theirbeèdf by: tLfrt TnLStee The notes ollpog 11 to 20 follTt an inte8fdl partof fitwKial ststemuts. Page 10
Colonsay and Oronsgy Heritage Trust Notes to the Financial Statements for the Year Ended 31 March 2026 I Charlty st#tu8 The charity is limiied by guardlltee, All¢OryKbrktd ID ScotlaJ( aDd cseqU¢llY does not have share capital. Each of the tru5t£¢S 15 liable to colltribute an atnoutlt not exceeding £1 towards the as5¢tS L¥f tbe charity in the ¢v¢nt of liquidation. The address Df its r¢tted office is: Clo Carol Ma¢Neill Drumclach Steading Drumclach Isle of Coloosay PA617YR 2 Accountlng polities S#nllnary of 51gnificxnt rcouDtiBg poilcks and key atcollnlg eslimates The principal accouotin8 policie5 atvltcd in the preparation of these financial srateJn¢nts sei out below. These ptslicies hav¢ be¢u ¢onsi5tendy applied to all the ycars pres1¢4 ullie4s iknise StatemeDt of cfjmp]laDee The financial statements have beell pryar&l ID accordaRce Accoting and Re[g by Charities.. Statement of liecornjnetxled Practice (applicable to cbarities prepanng their accounts io a¢cordanee with th¢ Fioan¢ia] Reporting Standard applicable in the LK aTEd Repubtic of [land (FRS 102)} (issued in October 2019) - {CkiticS SORP (FRS 102}). the FiDatt¢ial RePtillg Standanl applioblc in thc UK and Republic of tTrland IFRS 102) and the Companies Act 2006. B9sls of prqjardtioll ColoDsay ad Oron5ay HItage Tn1 meets the de6t)itioD of • public knefit entity FRS 102. Assets and liabilities ar¢ iniiially reco8lli5ed at historical c05t or Iramartion value uttkss otherwise stat¢d in the relevant ac¢owiting policy llotes. Going efjNeern The ITUStee5 Consider that there are matffial Uncertai7eS about the ¢harity5 ability to continue as a 80in8 concern nor any slgDifi&t aTea$ of UertatY affe¢L the caAng value ofassets held by the charity. Exethptlon from preparlng a ¢$h statetnent The charity opted to early adtspt Bulletin I publislled on 2 Febnwy 2016 and hav¢ tberef0 iti¢lud¢d a flow statement ill these fillancial ststemeDts. lllcome endowments All 1Come is reeogDised once the chaTiry has etttitlejnent to the inconjt. it is Probable that the income will be received and the am01 of the income ffccivable can b¢ measuted reliabty. Pagcll
CoIon$ay and Oronsay Heritsge Trust Notes to the Financial Statements for tbe Year Ellded 31 March 2026 DollatiQThS are reco8Dised when the ¢harity has beett nots"fi¢d ID lti1)g of both the amount and settlennt date. tn the event that a donati¢)n is sybject to coDditio that Tequire a level o1wforntt¢e by the chartty before the charity 15 entitled to the the iDcome is defee atyj uot re£ogDi5ed until either those ci)tiditioDS are fully mel or tbe fulfilmEnt of those Conditions 1$ wholly within the eonrrol of the charity alld il is probable that these Conditions will fidfllla4 ill the rep)rnDg periiML Graryts r¢ee¢vblt Gr8J)ts are recogllised when the charity bas an entitlewent to the fimth alld any cotiditions linked to the have been m¢t. Where perfornwicc Co17tionS are attached to the grdllt and are yet to meL the incorne 15 re¢wised as a li8biiity and ]lUd on balao¢e sheet as def¢rttd ItMe trj be relea8ed. Expenditure All ¢xpendire is recOg6ed on¢¢ there is a legal or co$trtiVe obb"gation to that txpendi it is probable settlelltent is required 8nd the amom)t be measurd reliably. A]1 cts are allocated to the applicable expenditure h¢adin8 that aggregate similar costs kn that category. Where wsts Cat be directly attributed to particular headings thcy have been allocated on a basi% consistcnt with the use of rcsourtt4 with ¢¢ntral staff ¢Obts alloced on the basis of time spellt. and d¢weciation allo¢akd on the portion of th¢ as5et'S ILSe. Other supwi costs are a]loc4t¢d based on the spread of cost5. alSgndS Thesc are costs incurred Lll attracting voluntsry Ille. th¢ manager[ OF investments ar thos¢ incuTreil in ading activities that raisE fullds. CkaTitsble #clivities Charitable Expenditure cothprises those costs i1t¢ued by tbe chality in the delivery of its acttvities aDd seThices for its beficlar1e6. It iDcludas both costs tbat can be allocated (lirectty to th actiYttÉes 8Dd those costs Df an iDdirect naturc necessary to wport thenL Support Costs Support costs include ¢eotral functson5 a]Ml have been allocat¢d to activity c05t categories on a basi5 consisient ith the use of resources. for exampl< aU(Kwing Pro costs by f]ocf ateas, or pet capits, stsff eosts by the ttme spent and other costs by their usage. Govern3n¢e costs The.e include the costs attTJbutable to the cl]aEity's cornplianc¢ Cott$titiODl and #t#tsLtory requirements, ijjcluding audi¢ strategic mana8emeni and tnjstees meetittgs al 1MbU expeose The ¢harity is ¢OD5ider¢d to the tests set in Parawh I Scbedule 6 of the Finallce Act 2010 and tkn¢reforc it mews tbe deFiDitioll of a ¢]lble Company for corporntion tsx wses. Accordingly, the charity is potentially exempt from taxation ill rwect of income QT C4Pitai gaiDS reecived witbin ¢ategories coveFcd by Chapter 3 Part I l of tbe Co110n fax Art 2010 OT Seetion 256 of the Taxation of Cknargeable Gains Act 1992. to the exteut that such income OT gains applied excknively to charitsble pu4)oses. Tangible fixed assets Itmlividual fixed assets CtIng £0.00 or llK>re ate illitialty recorded at ¢OSL less any sDbsewt accun]ulated dwreciation and subsequ¢nt aca]rnulated impairni losses. Page 12
Colonsay and Oronsay Heritage Trust Notes to the Finauci41 Ststements for the Year Ended 31 March 2026 Depre¢itioll amorti$8tion D¢preci3uon is provided on tangible fixed assets so &$ to wtite off thE ¢OSt or Valuatio Its5 ally £8timat¢d iesidual value. over their excted e¢oTJomi¢ life as follows: Asset cl8 Offi¢¢ Equiplllellt Dtpretlllon nthod #nd rxte 2(flD rtduciDg balanGE Trnde debtors Trade debtor5 are alllounts from cwtomets for Mchandi sold or setvires forled ill tbe ordinary cour5¢ of business. Trade dcbtors are re¢ognised initial]y at the traDsaction price. 71y •t Sllbsequently rÉffts at am(rtised cost 8ing thc efftctive int¢rtst le&5 provision for impirmenL A provision for the iti]paiEellt of trade debtors is established when thefte is objecliye eviden th the charitywll t be abl¢ to collwt all 8mcrtmts due according tr1 th¢ original terms of the re1Vabl&s. Cash and t8sh eqlllv¥lents Caskn and cash tyuivaleDts comprise ¢ash OD b1 alld cau deposils, alld other short-temi highly liquid investments that are readily convertibl¢ to a known amount of cash aDJ are subject to an insigllificant risk of ¢bange ill value. Borrowings IDter¢st-beariDg borrowin are initially rworded at fair value, n& Of ttaD58ctioTh wsts. Interest-beaTiDg borrossryn&<y arc subsquertily cwied at alllortised ws¢ the difference between the proceeds. net of trans&ction costs, and the am<)unt due on redcmwiots bel recognisd as a cha¢ to the StsteMc of Financial ivities over the pen(Kl of the relevaot EKMrow Jnier&%t expens¢ is reCOlS¢d OD the basis of the efftttiv¢ inteEtst medKKI and is in¢hthd illtcre5t payable atrl similar ¢harge& Borrowings are ¢1]fi as current liabilities wdess the charity bas an u(Kouditiollat iight to defer settl¢ment of the liability for at least twelve m(Trnths th the rewhDg date. Fund $try¢ture Unr¢stricted income futmls ar¢ genuai fuuds that are available foruse al the trustees disrtioll in fvrtberallct of objectives of the ¢harity. Desi8Dat¢d fiu]ds are u1cted fun& sd a$e for specifie purpbw attbe di5crction of the lrnst¢e8. Restricied incorne are those donated for in a Iwfi¢ular area or for SIfiC pur[seS. the use of which is rtstrtcted to that area or pu4Jose. Pagc 13
Colonsay And Oronsay Herltage Trust otes to the all¢la1 Statements for the Year End 31 Lmarch 2026 Flnafjclal iDStruments Th¢ CIMrity has elected to apply the provtSiOll5 of Sections I I "Basic Fir&1 ItInts. and Secrions 12 'Other Financial [stnts 155ues of FRS102 t(p all of its fjJJa¢ial Finan¢io] itistnmwits are reCognis in the Charitys balance stsea wbth the Clwity beconwA party to the contractual provisions of the isntsurnent. Financial assets alld liabilities are offseL with the allts preSellt ID th¢ fillartc& 8t8ment4 wtn there is & legally enforceable right io sct off tbe recw1sl alotI and there is an illtcntiOD to settle on a uet basis OT to rdisc the a&set attd settle the liabiIity 5irnultsllry)usly. Brtsiefinwia414ssets Basic finanetaL &&8ets, whith ADcIth trade and ¢)th¢r trceivab1¢5 8DJ ¢&sh 8Dd b8J& balanc4 are initially me&wred at transaction price including ttansaetion Costs ard are subswueDtly CrIed at amortised ¢ost using th¢ ¢ffecEive intertst meth(xl nIesS the aTraD8erllent ¢oDstilute5 a fiDJ8 rL$actiO where the transaGtion is )Deasured at the present value of the thtre receipts discouttl at a M¢t Tate of interst. FiDau¢ial as4ets ¢ilfied as receivabk within one y¢ar are llotawrti5uL 3 ID¢ome from donations and legaci¢s Restricted fulldg Totsl G¢Meral Donations and legdeies" Donations from illdividuals GrallK in¢luding eapital ts from other chatities Regular giviug alld capitsl dollations Totgl for 2026 3J45 3,545 1.600 1,600 445 445 5,590 Tots] for2025 3.143 14.463 Page 14
Colonsay and Oronsay Heritage Trust Note5 to the Thancial Statements for the Year Ended 31 March 2026 4 Exped1ture on r81skng funds a) Costs ofgenerAthig doR&tioDS *lld legaeie5 UArestri¢ted Deslgnated liestricled fvTJds Total nds CeDeral Note DotMtioDs alld leEacies Allocated support tosts 346 346 2,845 .172 1,673 Tot#] for 21>26 1.172 1,673 3,191 Tots] for 202S 339 16.240 16,579 S Expendlthre on tharltable aetlvltles UBr¢Jtrleted fund DwgD#ted Genergl Nots General Fuwl Allocated support costs 174 174 1.828 992 992 Tr+tsl for 2026 I,V28 1,166 2,994 Total for 2025 I,Is 3.185 4,375 Page 15
Colonsay and Oronsay Herftsge Trnst Notes to the Financial Statements for the Ended 31 March 2026 7 Trnstees re]uuTreratioTr and expeJL4e5 No knstees. nor aDy r50Th% contteded with them, bave Te¢eived auy ranulleration fEom the cljarity during th¢ No trustees have r¢1Ved ally rellm expeow or anyOther¢fits from tbe clwity dum8 the ye8r. 8 Illdepettdet txamiller's remntnlitin 2026 21125 EL*ll1tiOn of the financial 5taterfj 992 8S5 9 Taxation Ibe clwity is a registered charity and is theJYfore exempt fiDm tsxati( 10 TAD8ible ed ##ets Furnfiture and eqwApment Cost At l April 2025 215 215 At 3 1 March 2026 215 215 DtprEciatio Al l April 2025 arge for the yeAr 186 186 At 31 March 2026 192 192 Net ljook value At 3 1 March 2026 23 At 31 March 2025 29 29 11 Debtors 21125 11,320 P8ge 17
Colonsay and Oronsay Heritsge Trust Notes to the Ftnancial Statements for the Year Ended 31 MY4rch 2026 12 Cash ea5h equiv8lellts 2026 21b25 Cash onband Casb atbank 155 26,984 27.139 69 15.177 15,246 13 Credltors: amounts falllDg due Tvithkn) one year 2026 2025 Accrua]s 2.026 Page 18
Colonsay and Oronsay Heritage Trnst Notes to the Finanelal Ststements for the Year Ended 31 March 2026 14 Fullds Ball¢C at 31 March 2026 Balanee *t I April 2025 Reswces expthded resoutte5 Transfers Unrestrleted fvDds GeHeMI General fattd 18.633 (L.512 (1.512) 3,146 24,257 18.633 3.146 24,257 I)eNgne Baptist Cknuh 3J62 {3.OiKI) 13,( {362) 362 3.362 Total ttreStrICted fnDds 21.995 (4,512 2.784 24,257 Restricted funds Ew Fw)draising Scottish Council foT Voluntary Organisations Jnvesting ill Ideas Iuasg Bllidhe 2,377 {2J77) 879 480 879 (480) 73 IL,673 Total restrkted funds 3,736 1.673 2.784 879 Total 25,731 5554) 16.185) 25.136 Page 19
Colon52y and Oronsay Herltsge Trnst Notes to the financlal Staternenls for the Year Ended 31 March 2026 Balance at I April 2024 Incoming BxlaDce at 31 March 2025 expended Unrutricted d$ General 19,014 3.143 (3,524) 18,633 Baptist church 4.552 1.190 TO unre5trictd fid5 23,566 3.143 4.714} 21,995 Rtricted Easy Fwidraising Scottish Council forVoluDtary Organisations lttvesting ill Ideas Stained Glass Workshops Stones ConseTvation Project 2J77 2.377 879 480 4920 879 480 (4,9201 11,320 11.320 Total restricted funds 8.656 11320 16240 3.736 TotAI fuDd5 32222 20.954 25,731 IS Analysi$ of net assets behveem fvHds U•re5tritted funds Gener1 Total fimd5 at 31 March 2026 Tangible fLx¢d ass Curyeot &38¢fS Curkrnt liabilities 23 27,139 2,026 23 27,139 2,026 Totalnet assets 25,136 25.136 ur£StrAtI&l Tot1 funds t 31 M*rc 21)25 Restrlcted fud& GeJAeral Tgngible fixed assets Current asseES Current liabi]iti 29 15246 (864) 29 26,566 (864) I 1,320 Total net assets 14,411 11,320 25,731 16 Related party transattW)A$ There were tm) related paty trnlOns in thc ycar Page20