_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:-_
1. Further development of post-excavation and interpretation of the Clachtoll Broch including the publication of two books
2. Undertake required maintenance of previously consolidated ruins of Ardvreck Castle and Calda House, and to maintain good public access to such structures.
3. 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.
4. Undertake any required maintenance of Clachtoll Broch, and to maintain public access to the structure.
5. To continue to survey and record hitherto unrecognised archaeological remains throughout Assynt.
6. 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:-
- maintain public access to Inchnadamph Church with standard opening times during the summer.
- continue with research into the history of the people and buildings of Assynt.
- continue to investigate (with others) the conservation and presentation works at the Broch in Clachtoll.
- 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.
- 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:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- 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
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## 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 ;
- (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
- (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 2006, and
- (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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