Comann Eachdraidh Lios Mor Trustee5' report & financial accounts for the year ended 31 December 2025 Company Registration No- SC234832 Charity Registration No- SC023503 Simmei-s & Co OBAN
Comann Eachdraidh Lios Mor Company Limited by Guarantee Financial Statements Year ended 31 December 2025 Page Trustee5' annual report (incorp)rating the director's report) Independent examiner's report ro the trustees Statement of financial activities (including income and expenditure account) Sr3trment of financial position Notes to the financial statements 9-20 The following pages do not form part of the financial statements Derailed sratrment of financial attiyities Notes to the detailed statement of financial accivities 23
Comann Eachdraidh Lios Mor Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 December 2025 The trustees. who are a150 the directors for the PLtrposes of company law. present their report and the unaudited financial statements of the chariry for the year ended 31 December 2025. Reference and administrative details Registered charity name Comann Eachdraidh Lios Mor Charity registration number SC023503 Company registration number SC234832 Principal office and registered office Port a Charrain Isle of Lismore Oban PA34 SUL Argyll The trustee5 M5 J Baker Mrs M E MacDonald Mr D Breingan Ms S Haworth Mr S Cross Mr M Robertson Dr N E Odling Mr D Clarke Mr5 A Clarke Ms M Y Ferguson Ms l Livingstone Ms M MacGregor Ms S Armitage (Resigned 16 January 2026) {Appointed 16 January 2025) Independent examiner David McGregor CA Albany Chambers Albany Street Oban Argyll PA34 4AL
Comann Eachdraidh Lios Mor Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2025 Strurturei governance and management Governing Document Comann Eachdraidh Lios Mor is a company limited by guarantee. It does not have share capital. The governing document is the Memorandum and Articles of Association dated 29 July 2002. as 5ub5equently amended. It is registered as a Scottish Charicy. In the event of winding up, the liabiliry of each member is limitrd to £ l. Recruiunent and appointment of new trustees Trustees are eletted by the members of which there are two classes. Ordinary members may be individuals firms, unincorporated associations or corporation's resident or active within the island of Lismore. They may, along with nominatrd members. appoint up to twelve directors, designated "Elected DItors, Nominated members may be individua15, institutions and organisations who support the ofy'etts of the Company who are nominated for thi5 clas5 of membership by the Board. They may appoint up w three directors. designated 'Nominated Directors" There are 3 categories of membership: Ordinary members, aged 16 or over. either resident in the community, or who are active. on or on behalf of, Lismore,. and who also support rhe Objects. Associate members. individuals or organisation5, not ordinarily resident in the community, but who support the Objects. and Junior Members, individua15 between 12 and 15 who support the Objects. Only Ordinary Members have voting rights. The Company sh311 have not fewer than 20 members. of whom the majority must be ordinary members. {There are currently 178 Ordinary, 4 Associate and O Junior members . The affairs. property and funds of the Cornpany are diretted and managed by a Board of n¢X less than 5. and not more than 12. Directors. (There are currently 12 Directors.) The Board of Directors continues to assess 2nd idenlify any major risks to which the charity may be exposed, and to miugate those risks. Induction and training of new trustees New trustees are inducted into the workings of the chariry according to the nature of their role and responsibilities and by attending Board meecings. The Board understands the importance of being kept informed on current issues in the sector and on regL¢Litory requirements but has ntst yet established a formal procedure for Trustre (raining. Risk Management The Trustee5 have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate contro15 are in place to provide reasonable assurance against fraud and error. Indemnity The company has granted every director an indemnity of up to £25Ok. out of the assets of the company, which 15 a qualifying third-party indemnity provision for the purposes of the Companies Act 2006.
Comann Eachdraidh Lios Mor Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2025 Objectives and activitie5 Objettive5 and aims The main objeccive of the charity is to advance the education of the public about the history. heritage and culture of the151and of Lismore. The main activity undertaken 10 achieve this has been to build and operace a visitor centre on the island, which incorporaS a museum. shop and cafe. Achievements and performance The Heritage Centre continues to be very busy with day trippers and holiday maker5 a5 well as locals. The visitor numbers for 2025 were just short of13.000. The website is currently being improved and updated. A volunteer Gaelic Consultant was appointed. The Exhibition included a detailed study entitled Water of Lismore led by Dr Laura Major of Strathclyde Universiry. The consolidation of the Mediaeval Dig artefacts continues at the National Museum of Scotland with a view to holding a conference on Lismore in 2026. The Taproot Wintsr Festival ¥WdS popular with 2 performance5 per month Ehroughout the wintrr season. The Board appreciates that more room is needed at the Centre to accommodate a new and larger kitchen for the award-winning Café and an extension to the museum to house a permanent exhibicion of the Dig artefacts. An application has been made to Museums Galleries Scodand Museum Development Fund to employ a Project Officer and source detailed architects, plans for the first phase of the projett. The shop is stocking more and more local goods which sell well benefitting both the Centre and local manufacturers and crafters. The shop and toilets were repainted for the new season. The accessible toilet has been relabelled to ensure compliance with UK regulations. Finally, work Wds completed to repair potholes, exnd the carpark and improve the access drive.
Comann Eachdraidh Lios Mor Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2025 Financial review For the year ended 31 December 2025, we report net outgoing resources on restritted funds of £14,740 {2024 - £8,666) and net incoming resources on unrestritted funds of £11.699 {2024 incoming £3.8161. At the year end, the charity had a total reserve of £339,413 12024 - £342,454) of which £266.954 12024 £281,694) were restricted. £35,000 {2024 - £35,000) were in an endowment fund and £37.459 {2024 £25,760) were unrestricted. Our trading stjbsidiary made a profit for the year before tax of £461 {2024 - profit £641 l. its net reserves at the yearend were a surplus of £12,140 {2024 - £11.649). Reserves policy Our aim is to maintain sufficient unrestricted re5erve5 to provide a buffer for opernting costs in the shorc to medium term in the event thac there is a shorrfall of revenue, and to maintain the properry and equipment. The balance on 31 December 2025 was £37,459 with £30,984 being freely available with the balance being tied up in Fixed Assets (2024 - £25.760 with £25,699 freely available). Going concern We consider that the charity currently has adequate resources in the short rm. Accordingly. the going concern basis continues to be appropriate to apply in preparing the financial statements. Plans for future periods In 2026, the charity is planning to run an exhibition featuring history of Li5more in the wars. Emphasis will be on the First World War with the ntre piece a kilt gifted by MacDougall's of Canada. Resumption of the Taproot Festival We will also aim to continue securing funds for the Projett Officer, architects and build of the extension. Small company provisions This report has been pPared in accordance with the provisions applitable to companies entitled to the small companies exemption. The trustees, annual report was approved on 14 June 2026 and signed on behalf of the board of trustee5 by.. Mr M Robertson Trustee
Comann Eachdraidh Li05 Mor Company Limited by Guarantee Independent Examiner's Report to the Trustees of Comann Eachdraidh Lios Mor Year ended 31 December 2025 I report on the financial statements for the year ended 31 December 2025, which comprise the statement of financial activities (including income and expenditure account}. statement of financial position and the related notes. Respertive responsibilities of trustees and examiner The chariry's trustees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment Iscoiland) Act 2005 and the Charities Accounts (Scotland} Regulations 2006. The charity trustees consider that the audit requirement of Regulation l O( l )lal to (cl of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under settion 4411 }Icl of the Act and to state whether particular mat*rs have come to my attention. Basis of independent examiner's report My examination is carried out in accordance with Regulation I l of the 2006 Accounts Regulations. An examination include5 3 review of the accounting COrdS kept by the charity and a comparison of the accounts presented with those record5. Ic also includes consideration of any unusual items or disc105ure5 in the accounts and seeks explanations Irom the trusrees concerning any such matters. The procedure5 undertaken do not provide all the evidence that would be required in an audit and consequently I do not expres5 an audit opinion on the view given by the atcounts. Independent examiner's statement In connection with my examination, no matter has come to my attention- { l } which gives me reasonable cause to believe thai in any material respect the requirements: co keep accounting records in accordance with section 4411)(al of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prepare accoun which actord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been me¢ or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. David McGregor CA Independent Examiner Albany Chambers Albany Street Oban Argyll PA34 4AL
Comann Eachdraidh Lios Mor Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 December 2025 2025 ReStrId Endowment funds funds Total funds Total funds 2024 Unre5tritted funds Note Income and endowments Donations and legacies Other trading activities 26.543 5,743 32,286 11.261 26,768 13,230 Total income 37.804 5.743 43.547 39,998 Expenditure Expenditure on raising funds: Costs of raising donations and legacies Expenditure on charitable attivities Other expenditure 23,773 20,483 44.256 42,341 896 1.436 896 1.436 767 1,740 Total expenditure 26.105 20,483 46,588 44.848 Net expenditure and net movement in funds 11.699 (14.7401 13.0411 {4.8501 Reconciliation of funds Total funds brought forward 25.760 281,694 35.000 342,454 347,304 Total funds carried forward 37,459 266,954 35,1)00 339,413 342,454 The statement of financial activities include5 211 gains and losses recognised in the year. All income and expenditure derive from continuing artivite5. The notes on pages 9 to 20 form part of these financial statemen
Comann Eachdraidh Lios Mor Company Limited by Guarantee Statement of Financial Position 31 December 2025 2025 2024 Note Fixed assets Tangible fixed assets Investments 306,705 308,816 306.707 308.818 Current assets Debtors Cash at bank and in hand 18 8,806 25,368 2,013 34.982 34.174 36.995 Creditors: amounts falling due within one year 19 1,468 3.359 Net current assets 32,706 33,636 Total asset5 le55 current liabilities 339,413 342,454 Net assets 339.413 342,454 Funds of the charity Endowment funds Resrricted funds Unrestricted funds 35.000 266,954 37,459 35.000 281,694 25,760 Total charity funds 20 339,413 342,454 The notes on pages 9 to 20 form part of these financial statements.
Comann Eachdraidh Lios Mor Company Limited by Guarantee Statement of Financial Position (contlnued) 31 December 2025 For the year ending 31 December 2025 the charity VKdS entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The direttors acknowledge their responsibilities for complying with the requirements of the Att with respect to accounting records and the preparation of financial StaMentS. These financial ststements have been prepared in accordance with the provisions applicable to companies subjeel to the small companies, regime These financial statements were approved by the board of trustees and authorised for issue on 14 June 2026, and are signed on behalf of the board by.. 6&1- j, E. Ms J Baker Trustee Dr N E Odling TrUSe The notes on pages 9 to 20 form part of these financial statements.
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2025 General information The charity 15 a public benefit entiry and 2 private company limited by guarantee. regiSred in Scot13nd and a registered charity in Scotland. The address of the registered office is Port a Charrain, Isle of Li5more, Oban. PA34 5UL, Argyll. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Srandard applicable in the UK and the Republic of Ireland,, the 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 1021 (Charities SORP 2019 (FRS 102)) and the Companies Acc 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is rhe functional currency of the entiry. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, adntsge has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (al No cash flow statement has been presented for the company. (b) Di5closure5 in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty The business is managed by the trustees who meet regularly during which any matters of judgement or estimation are considered and resolved.
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2025 Accounting policies (continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees co further any of the chariry's purposes. Designated funds are UnstriCted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjetted to restrictions on their expenditure declared by the donor or through che terms of an appeal and fall into one of two sub-classes.. resEricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activitie5 when entitlement has passed to the charity.. TC is probable that the economic benefits associated with the transaction will ow to the charity and the arnount can be reliably measured. The following specific policies are applied to particular categorie5 of income.. income frorn donations or grants is recognised when there is evidence of entitlement to the gif receipt is probable and its amount can be measured reliably. leKdCy income is recognised when receipt is probable and entitlement 15 established. income from donated goods 15 measured at the fair Yalue of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of genernl volunteers. income from contracts for the supply of seryices is recogni5ed with the delivery of the contracted service. This is classified as unrestritted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if un5pen¢ in which case it may be regarded as restriCd.
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2025 Accounting policies (contlnued) Resources expended Expendiwre is recognised on an accruals basi5 as a liability 15 incurred. Expenditure includes any VAT which onnot be fully recovered. and is classified under headings of the statement of financial attivities co which it relates.. expenditure on raising fund5 includes the costs of all fundraising activities, events, non-tharitable trading attivities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking attivities thai further its charitable aims for the benefit of its beneficiaries. including those supporc costs and costs relating to the governance of the charity apportioned to charitable attivities. other expenditure includes all expenditure chat is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflettin8 the use of the resource. Direct Costs attributable to a single activity are allocated directly to that 2ctiviry. Shared costs are apportioned between the activiEie5 they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost and subsequently srated at cost less any accumulated depreciation and impairment losses. Any tangible assers carried at revalued amounts are recorded at the fair value at the date of revaluation le55 any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unles5 It reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses. except to which it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and10sses orb the Stament of financial activities. Depreciation Depreciation is calculated so as to wri off the cost or valuation of an asse¢ less its residual value. over the useful economic life of that asset as follows: Freehold property Plant and machinery 2% straight line 25% straight line
Comann Eachdraidh Lios Mor Company Limlted by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2025 Investments UnSisted equity investments are initially recorded at C05t and subsequendy measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed inve5tmencs are measura a¢ fair value with changes in fair value being recognised in income or expenditure. Accounting policies (continued) Impairment of fixed a55ets review for indicators of impairment is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amounL the asset 15 impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing. when it is not P055ible to estimate the recoverable amount of an individual asse( an estimate is made of the recoverable amounr of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairmeni testing of goodwill, the goodwill acquired in a business combination is. from the acquisition date. allocated to each of the cash-generating units that are expected to benefit from the synergies of che combination. irrespective of whether other assets or liabilities of the chariry are assigned to those units.
Comann Eachdraidh Li05 Mor Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2025 Limited by guarantee The charity is limited by guarantee of its members. In the event of a wind up. individual members liabiliry will be limited to £ l each. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2025 Donations Donations Gift aid 21,666 1,799 23,465 4.537 4.537 Grants Grants receivable 3.9 3,944 Subscription5 Subscriptions 340 340 26,543 5,743 32.286 Unrestrirted RestriCd Totsl Fund5 Funds Funds 2024 Donations Donations Gift aid 1 S,676 2,086 3,267 18.943 2.086 Grants Grants receivable 5.000 5.000 Subscriptions Subscriptiorbs 739 739 18,501 B,267 26,768
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 December 2025 Other trading activities Unrestritted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Fundraising income Letting and licensing 6.261 5.000 6.261 5.000 8,158 5,072 8,158 5,072 1,261 13.230 13,230 Costs of raising donations and legacles Unrestrictsd Fund5 Restricted Total Funds Funds 2025 Costs of raising donations and legacies - Operation of visicor centre 23,773 20,483 44,256 Unre5tricred Funds Restricted Total Funds Funds 2024 Costs of raising donations and legacies - Operdtion of visiror centre 25.729 42,341 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Support costs 896 896 767 767 xpenditure on charitable artivities by artivity type Total funds 2025 Total fund 2024 Support costs Governance costs 896 896 767 14
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statsments (continued) Year ended 31 December 2025 l O. Other expenditure Unrestricted Funds Restricted Total Funds Funds 2025 L05s on dispos21 of tangible fixed assets held for charity's own use Non business VAT 1.436 1.436 1,436 1,436 Unrestricted Funds Restricted Total Funds Funds 2024 Loss on disposal of tangible fixed assets held for charity'5 own use Non business VAT 652 765 323 975 765 1,417 323 1,740 I l. Net expenditure Net expenditure is stated after chargingllcrediting).. 2025 2024 Depreciation of tangible fixed assets L055 on disposal of tangible fixed assets 9,347 10,130 975 12. Independent examlnation fee5 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements 896 767 13. Staff costs The average head count of employees during the year was Nil {2024- Nill- No employee received employee benefiES of more than £60.000 during the year {2024: Nil). 14. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a laCed entiry were received by the trustres., or
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements (contiftued) Year ended J l December 2025 15. Tangible fixed assets Freehold property Plant and machinery Total Cost At l January 2025 Addition5 Disposals 461,160 4,179 102.152 3,056 13,330) 563.312 7.235 (3.3301 At 31 December 2025 465,339 101,878 567,217 Depreciation At l January 2025 Charge for the year Disp05a15 152.405 8,523 102.091 824 13,331) 254.496 9.347 (3,3311 At 31 December 2025 160,928 99,584 260,512 Carrying amount At 31 December 2025 304,411 2.294 306.705 At 31 December 2024 308,755 61 308.816 16. Investments Shares in group undertakings Cost or valuation At l January 2025 and 31 December 2025 Impairment At l January 2025 and 31 December 2025 Carrying amount At 31 December 2025 At 31 December 2024 All investment5 shown above are held at valuation. 16
Comann Eachdrnidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 December 2025 17. Investment entities Subsidiaries and other investments The chariry own$ 2 ordinary shares of £ I, I 00% of the share capital of Taic Comann Eachdraidh Lios Mor Limited, registration number SC241701, whose registered office and place of business is Port a Charrain, Isle of Lismore. The results of which are Ported in the trustres. report The Chariry has taken advantage of the exemption available to Small groups to not produce consolidated accounts 18. Debtors 2025 2024 Trade debtors Amounts owed by group undertakings Prepayments and accrued income Other debtors 517 5,095 483 2.711 1,245 485 283 8.806 2,013 19. Creditor5: amounts falling due within one year 2025 2024 Accruals and deferred income Other creditors 1.468 2.201 1,158 1.468 3.359 20. Analysis of charitable funds Unre5trirted fvnds At J l December 2015 l January 2025 Income Expendirure Transfers General funds 25,760 37,804 (26,105) 37.459 At l January 2024 31 December 2024 Income Expenditure Transfers General funds 21,944 31,731 127.9141 25,760
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2025 20. Analysis of charitable funds (continued) Restrirted funds At31 December At l January 2025 Income Expenditure Transfer5 2025 Deferred capital grants MacDougdll Maccallum Foundation Dig Fund5 Clan MacDougall Society of Amerira Hunter Trust Just Giving Sociery of Antiquaries 273,753 (8,5231 265,230 748 1.916 12,1921 {2.916) 1,085 85 432 3,176 1,669 (432) (3,176) (1,669) (1,575) 714 2,500 714 925 281.694 5,743 {20,483} 266,954 At31 December At l January 2024 Income Expenditure Transfers 2024 Deferred capital grants MacDougall Maccallum Foundation Dig Funds MGS - Urgent response MGS Recovery and Resilience Clan MacDougall Society of America Hunter Trust Calmac Taproot Just Giving 282.275 {8.522) 273,753 1.768 3.000 349 {1.020) (2.084) (350) 748 1.916 1,000 1,520 (1,5201 432 614 432 3,176 5.000 12,438) 402 2,267 { 1.000) 1,669 290,360 8.267 (16.934) 281.694
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2025 20. Analysis (rf charitable funds (continued) Deferred capiral grants - The deferred capital gr3nt relate5 to the release of income received for the construction of the Visitor centre which is released in line wth the buildings depreciation policy. MacDougall Maccallum Foundation the charity received a further £1,444 from the foundation to support museum related expenditure. This fund was fully expended this year. DIG funds the charity received a further £1.085 by private donation to undertake research into items found during recent excavation5. MGS - Urgent Response funds were received from Museum Galleries Scotland to fund museum related costs (exhibition display, artifact conservation, IT Cataloguing costs), urgent website maintenance and renewal. and office costs from July 2020 to March 2021. These fund5 were fully expended in 2024. MGS - Recovery and Resilience - Funds were received from Museum Galleries Scorland in 2020 and 2021 to fund essential maintenance 2nd development aimed at increasing resilience {from December 2020 to ILJne 2021). These funds were fully expended in 2024. Archaeologfcal excavations - funds were received from Macpherson Maccallum Foundatiorb, Clin MacDougall Sociery of America, Hunter Trus¢ Society of Antiquaries and Just Giving to undertake archaeological excavations. Endowment funds At 3 l December 2025 l January 2025 Income Expenditure Transfers Permanenc Endowment Fund - Property 35,000 35,000 At 31 December 2024 l January 2024 Income Expenditure Transfers Permanent Endowment Fund - Property 35.000 35,000
Comann Eachdraidh Lios Mor Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2025 21. Analysis of net assets between funds Unrestritted Funds Restricted Endowment Total Funds Funds Funds 2025 Tangible fixed assets Investmenrs Current assets Creditor5 less than l year 6,475 265,230 35,000 306,705 32,450 (1,468) 1.724 34,174 {1.468) Net assets 37.459 266.954 35.000 339.413 Unrestritted Funds Restricted Endowment TOLII Funds Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than l year 273.755 35.000 308,816 29.056 (3.359} 7,939 36.995 (3.359) Net assets 25,760 281,694 35,000 342,454 20