Charity Number: SC027390
Historic Assynt
Trustees’ Report and Financial Statements
Year Ended 31 March 2025
ACE Business Management Solutions 17 Lethnot Road, Edzell DD9 7TG Mob: 07799601740
Historic Assynt
(A company limited by guarantee)
Legal and administrative information
Charity number SC027390 Company registration number SC181459 Registered office Trustees Secretary to be determined Accountants ACE Business Management Solutions Ken Hamilton 17 Lethnot Road, Edzell DD9 7TG Bankers The Royal Bank of Scotland Ullapool Branch Ullapool IV26 2UD Solicitors Gillespie Macandrew WS 31 Melville Street Edinburgh EH3 7JQ
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Historic Assynt
(A company limited by guarantee)
Report of the trustees (incorporating the directors' report) for the year ended 31 March 2025
The trustees present their report and the financial statements for the year ended 31 March 2025. The trustees, who are also directors for the purposes of company law and who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
Appointment of trustees
Details of the appointment of trustees are set out in the Articles of Association. These have been revised and updated in 2010. The minimum number of directors shall be five, the maximum number is nine. The current Board members can decide to nominate an individual for membership of the Board if the Board deems it appropriate that such an individual would be beneficial to the work of the company.
Training and induction of trustees
New trustees are briefed on their legal obligation under charity and company law, and are provided with a copy of the Memorandum and Articles of Association.
Organisational structure
The Board of Trustees administers the company. The Board meet at least twice a year, and additionally as required by the operations of the company at the time.
Related parties
There are no related parties, although the company may work with other groups where this can further the aims and objectives.
Risk management
Financial and non-financial risks to the company are considered at Board Meetings as required.
Objectives and activities
The objects of the charity are:-
"To preserve for the purpose of the advancement of education and general benefit of the people of Assynt in Sutherland and of the nation at large, whatever of the historical, architectural and constructural heritage as may exist in Assynt in the form of building and structures of particular beauty or historical or architectural interest."
The principal activities of the company in the year under review were:-
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Further development of post-excavation and interpretation of the Clachtoll Broch including the publication of two books
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Undertake required maintenance of previously consolidated ruins of Ardvreck Castle and Calda House, and to maintain good public access to such structures.
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Undertake any required maintenance of Inchnadamph Church (Assynt Old Parish Church) and the ruins of the MacLeod Vault at Inchnadamph, and open the Church to the public on regular days during the summer months.
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Undertake any required maintenance of Clachtoll Broch, and to maintain public access to the structure.
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To continue to survey and record hitherto unrecognised archaeological remains throughout Assynt.
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To consider future projects that will meet the objectives of the company.
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7. To carrying on fundraising activities through the sale of merchandising.
Achievements and performance
Surveys have been completed for proposed planting between Stronchrubie and Inveruplan as well as to the East of Bad n'Achlaise out to Suileag. Numerous archaeological remains recorded and reported through the normal channels.
Financial review
The company intends to retain a reserve fund specifically for care and maintenance of the restored church, and any repairs required to Calda House or Ardreck Castle. These funds will not be used for other purposes of future project buildings without the specific agreement of the full Board of Trustees.
Income of £13,064 (2024- £2,667) for the year was mainly a grant from Historic Environment Scotland of £8.820 to complete the presentation issues of the Broch project and also included donations, fund raising through collection boxes and survey work. Both the Fishing in Assynt book and Broch book sales also contributed towards income. Expenditure of £12,058 (2024£5,751) was mainly related to the costs of presentation products for the Broch proect and also included insurance and heating and maintenance on the Inchnadamph Kirk.
Plans for future periods
In addition to ensuring the continued preservation of the three buildings owned by Historic Assynt, there are plans to:-
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maintain public access to Inchnadamph Church with standard opening times during the summer.
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continue with research into the history of the people and buildings of Assynt.
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continue to investigate (with others) the conservation and presentation works at the Broch in Clachtoll.
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for the Survey Team to conduct surveys and small scale excavations at various different sites in the parish and inform the local community of their findings and receive feedback.
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co-operate with other organisations to improve the understanding and appreciation of Assynt heritage.
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Statement of trustees' responsibilities
The trustees (who are also directors of Historic Assynt for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
of ACE Business Management Solutions was asked to prepare the accounts attached to this report. The trustees recommend that he should remain 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 Companies Act 2006.
On behalf of the board Fin Valentine Treasurer 30 December 2025
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HISTORIC ASSYNT I report on the accounts for the year ended 31 March 2025 as set out on pages six to fourteen. Respectlve responslbllltles of trustees and examlner The charity's trustees are responsible for the preparation of the accounts in accordance wtth the terms of the Charities and Trustee Investment (Scouand) Act 2005 and the Chartties Accounts (Scotland) Regulations 2006. The charity's trustees 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 accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. Basis of the independent examinerfs report My examination was Caled out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination indudes a review of the accounting records kept by the charity and a comparison of the accounts presented wrth those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees conceming 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" (1) which gives me reasonable cause to believe that. in any material respect. the requirements to keep accounting records in accordance with sects.on 44(1){a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and to prepare accounts which accord wrth the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met. or (2) to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. ACMA 30 December 2025 Page 5
Historic Assynt
(A company limited by guarantee)
Statement of financial activities (incorporating an Income and Expenditure Account) Year ended 31 March 2025
| Unrestricted Funds Notes £ Incoming resources From generated funds Voluntary income 2 170 Activities for generating funds 3 4,074 Grants - HES Investment income 4 - From charitable activities: Total incoming resources 4,244 Resources expended Costs of generating voluntary income Charitable activities 5 2,888 Governance costs 6 350 Total resources expended 3,238 Net income / expenditure before transfers 1,006 Transfers - Net movement in funds after transfers 1,006 Total funds brought forward 14 11,928 Total funds carried forward 14 12,934 |
Restricted Funds £ - 8,820 8,820 8,820 8,820 - - - 21,004 21,004 |
Total 2025 £ 170 4,074 8,820 - - 13,064 11,708 350 12,058 1,006 - 1,006 32,932 33,938 |
Total 2024 £ 234 2,433 - - - 2,667 5,351 400 5,751 (3,084) - (3,084) 36,016 32,932 |
|---|---|---|---|
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
The notes on pages 8 to 14 form part of these financial statements.
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Historic Assynt
(A company limited by guarantee)
Balance sheet
As at 31 March 2025
| Notes Fixed Assets Tangible assets 10 Heritage assets 11 Current assets Stocks Cash at bank and in hand Creditors: falling due within one year 12 Net Current Assets Total Net Assets Represented by: Restricted income funds 13 Unrestricted income funds 13 Total funds |
£ - 20,638 20,638 400 |
2025 £ 3,700 10,000 13,700 20,238 33,938 21,004 12,934 33,938 |
£ - 18,979 18,979 400 |
2024 £ 4,353 10,000 14,353 18,579 32,932 21,004 11,928 32,932 |
|---|---|---|---|---|
Trustees statements required by the Companies Act 2006 for the year ended 31 March 2025
In approving these financial statements as trustees of the company we hereby confirm:
- (a) that for the year stated above the company was entitled to the exemption conferred by
section 477 of the Companies Act 2006 ;
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(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 ended 31 March 2025
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(c) that we acknowledge our responsibilities for:
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(1) ensuring that the company keeps proper accounting records which comply with section 386 of the Companies Act 2006, and
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(2) preparing financial statements which give a true and fair view of the state of afairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of sections 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.
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 for Smaller Entities (effective April 2008).
The financial statements were approved by the board on 30 December 2025
________ Trustee Fin Valentine
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Historic Assynt
(A company limited by guarantee)
Notes to financial statements
Year ended 31 March 2025
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Companies Act 2006.
1.2. Incoming resources
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 specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the 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 assets, 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.
1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the 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.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Historic Assynt
(A company limited by guarantee)
Notes to financial statements Year ended 31 March 2025
1.4. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 15% reducing balance
1.5. Heritage assets
The charity holds heritage assets, which are tangible fixed assets of historical, artistic or scientific importance that are held to advance preservation and conservation objectives of the charity. Newly purchased heritage assets are capitalised and included at cost including any incidental expenses of acquisition.
Where heritage assets were acquired in past accounting periods, and not capitalised, it can be difficult or costly to attribute a cost or value to them. In such cases, these assets are excluded from the balance sheet if reliable cost information is not available and conventional valuation approaches lack sufficient reliability or significant costs are involved in the reconstruction or
analysis of past accounting records or in valuation, which are onerous compared with the additional benefit derived by users of the accounts in assessing the trustees stewardship of the assets.
The very long expected lives of heritage assets, due to their nature, value and need to be protected and preserved means that depreciation is not material and is, therefore, not provided.
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Historic Assynt
(A company limited by guarantee)
Notes to the financial statements
Year ended 31 March 2025
2. Voluntary income
| Unrestricted Funds £ Donations 170 Gift Aid 170 3. Activities for generating funds Unrestricted Funds £ Sales 465 Fundraising 1,609 Income from Woodland Trust 2,000 Memberships 4,074 4. Investment income Unrestricted Funds £ Bank interest receivable - - |
Restricted Funds £ - - Restricted Funds £ - Restricted Funds £ - |
Total 2025 £ 170 - 170 Total 2025 £ 465 1,609 2,000 - 4,074 Total 2025 £ - - |
Total 2024 £ 234 - 234 Total 2024 £ 1,383 1,050 - - 2,433 Total 2024 £ - - |
|---|---|---|---|
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Historic Assynt
(A company limited by guarantee)
Notes to the financial statements
Year ended 31 March 2025
5. Resources expended on charitable activities
| Unrestricted Funds £ Light & Heat 973 Repairs & Maintenance - Insurance 962 Professional Fees - Clachtoll Broch Project 300 2,235 Support costs Purchases - Advertising - Depreciation 653 Miscellaneous Expenses - 653 Total 2,888 6. Governance costs Unrestricted Funds £ Accountancy / Independent Examination Fee 350 350 7.Net incoming / (outgoing) resources for the year Net incoming resources is stated after charging: Depreciation on tangible fixed assets |
Restricted Funds £ - - 8,820 8,820 - 8,820 Restricted Funds £ - - |
Total 2025 £ 973 - 962 - 9,120 11,055 - - 653 - 653 11,708 Total 2025 £ 350 350 2025 £ 653 |
Total 2024 £ 897 192 936 - 699 2,724 1,686 - 768 173 2,627 5,351 Total 2024 £ 400 400 2024 £ 768 |
|---|---|---|---|
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(A company limited by guarantee)
Historic Assynt
Notes to the financial statements
Year ended 31 March 2025
8. Trustees emoluments
There were no employees during the year apart from Trustees
No trustee received a salary or expenses during the year. (2022 - £0)
9. Taxation
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.
10. Tangible fixed assets
| Cost At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for year At 31 March 2025 Net Book Value At 31 March 2025 At 31 March 2024 |
£ 1 - 1 - - - 1 1 Land and Buildings Freehold |
£ 13,542 - 13,542 9,190 653 9,843 3,699 4,352 Office equipment, fittings etc |
Total £ 13,543 - 13,543 9,190 653 9,843 3,700 4,353 |
|---|---|---|---|
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Historic Assynt
(A company limited by guarantee)
Notes to the financial statements
Year ended 31 March 2025
11. Heritage assets
| Cost At 1 April 2024 and 31 March 2025 Net Book Value At 31 March 2025 At 31 March 2024 12. Creditors: falling due within one year CALL Funding received - HES Accruals and deferred income |
£ 10,000 10,000 10,000 2025 £ - 400 400 Heritage asset |
£ - 10,000 10,000 10,000 2024 £ - 400 400 Total |
|---|---|---|
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Historic Assynt
(A company limited by guarantee)
Notes to the financial statements
Year ended 31 March 2025
13. Reserves
| Restricted funds Inchnadamph Project Hidden Lives Project Life & Death in Assynt's Past Fire & Water Project Broch Project Unrestricted funds |
At 01/04/24 Income £ £ 19,982 (1,821) - 1,203 - 1,640 - 8,820 21,004 8,820 11,928 4,244 32,932 13,064 |
Expenditure £ - - (8,820) (8,820) (3,238) (12,058) |
Transfers At 31/03/25 £ £ - 19,982 (1,821) - 1,203 1,640 - - 21,004 - 12,934 - 33,938 |
|---|---|---|---|
Represented by:
| Unrestricted Funds £ Fixed assets 3,700 Current assets 9,634 Current liabilities (400) Total funds 12,934 |
Restricted Funds £ 10,000 11,004 - 21,004 |
Total 2025 £ 13,700 20,638 (400) 33,938 |
Total 2024 £ 14,353 18,979 (400) 32,932 |
|---|---|---|---|
14. Ultimate controlling party
Historic Assynt is a company limited by guarantee and does not have a share capital. The liability of each member is limited and is not to exceed £1, in the event of the company being wound up while he or she is a member, or within a year of membership lapsing.. The ultimate controlling party is therefore considered to be the board of trustees.
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