CHARITY REGISTRATION NUMBER: SC028777
Argyll & The Islands Agricultural Trust
Unaudited Financial Statements
31 December 2024
CH
Chartered accountants
5 Argyii Square
Oban
Argyll
PA34 4AZ

Argyll & Thelslands Agricultural Trust
Flnanclal Statements
Year ended 31 December 2024
Page
Trustees, annuAI report
Independent examineffs report to the trustees
ststement of financial activities
Statement of financial position
Notes to the financial statements
The following pagas do not form part of tho financial statements
Detailed statement of financial activities
Notes to the detailed qtatement of financial activities
15
16

Argyll & The Islands Agricultural Trust
Trustees, Annual Report
Year ended 31 December 2024
The trustees present their report and the unauditèd financial statements of the ¢harily for the year
ended 31 December 2024.
Referénco and admlnlstratlve d•talls
R•glslor•d charity name
Charlty Iogistratlon number
Princlpal offlc•
Argyll & The Islands Agricultur￿ TnF$I
SC028777
Oban Livestock Cenlie
Upper Soroba
Soroba
Oban
Argyll
PA34 4SD
Th• trustee$
Secrètary
Inde￿ndent examlner
f R A Clement Associates C.A.
Structuro, governance and manag•ment
Or9anisalional structure
The Tr￿1 is govemed by its Trust deed and 1$ run by Its toard of trustee$.
Govemance and internal coftlrol
The trustees have assessed tho major risk$ lo which the Trust Is exposed, in partieular, those related
lo the operation of the finan¢es of the trust and are satisfied that systems are in place to mitigate
exposure to the major risks.

Argyll & The Islands Agricultural Trust
Trustees. Annual Report (contlnued?
Year ended 31 December 2024
Objectives and activities
Charitable objects
The objects of the Trust are lo promote the followng purposes within the area'.-
the advancement of crofling and farming.,
the advancement of a livestock auctioneering facility for crofters and famiers within the area,.
the relief of croflers and farmers in the area individually or generally in conditions of need,
hardship or distress.,
the assistance of spouses, children or dependents of crofters or farmers in the area who may be
in conditions of need, hardship or distress or for the advan￿Ment of their physical, mental and
spiritual welfare.,
the advancement of other exclusively charitable purposes for the benefit of the crofting and
farming community in the area, and
any other exclusively charitable objects as may from time to time be thought to be appropriate
and fil by the trustees.
Achievements and performance
The Trust leases the Oban Livestock Centre from the Oban Livestock Centre Limited. The Trust's
funds come from commissions generated from sales held at the facility.
The Trustees agreed to make donations lo the following charities and payments were made after the
year end.
Local Agricultural Shows..
Amount
Appin Agricultural Show
Bunessan Agricultural Show
Coll Agricultural Show
Dalmally Agricultural Show
Lismore Agricultural Show
Lom Agricultural Show
Mid-Argyll Agricultural Show
Salen Agricultural Show
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Other Donations..
Amount
Lom Toy Library
North Argyll Volunteer Car Scheme
Oban Mountain Rescue Team
Royal National Lifeboat Institution
Salen Agricultural Show- Shed Refurbishment Project
500
1,000
1,000
1,000
1,000

Argyll & The Islands AgriGultural Trust
Trustees, Annual Report (conthu•dJ
Y•ar •nd•d 31 Do￿rnber 2024
Flnan¢lal r•vl•w
ReseThes
The Unrestrict￿ funds represgnl the gJrFlusès arislng from CLxrent and past operating resutts and ar8
QDSidered lo be $4tisfaGtory.
trusteég, anNJal rÈN3rt was approv￿ on ...l.%.,..1...￿.zg ard stgr*d on bthaif of ts board of
Irustees by..

Argyll & The Islands Agricultural Trust
Independent Examiner's Report to th• Trustees of Argyll & The Islands
Agricultural Trust
Year ended 31 December 2024
I report to the Iruslee5 on my examination of the finanaal statements of ￿Y11 & The Islands
Agricultural Trust Ilhe charity'l for the year ended 31 Decomber 2024.
Rgspon$lbllltl•s and ba51s of report
As the Irustees ol the charity you are responsible for the preparation of the financial statements in
awrdance with the requirem•nls of the Charities and Trustee Inveslmonl {Scolland} Act 2005 Ilhe
.2005 Act'l and the Charities Accounts (Scolland} Regulations 2006 (as amended). You are satisfied
that your charity is not required by charity law to ￿ audited and have chosen insle8d to have an
independent examination.
I rep￿ in respect of my examination of the charlty's financi81 slalemenls as carrled out under section
44111{cl of the 2005 Act. In tarrying out my examination I have follo￿￿d tho requirements of
Regulation 11 of the Charilias Accounts (Scollandl Regulations 2006 las amended).
Inde￿ndent examinerfs stalemenl
Since the charity has piepared ils accounts on an accruals basls your examiner musl be 8 member of
listed in Regulation 11{21 of the Charities Accounts (Scot¢and) Regulations 2006 las
amended). I can conflrm that l am qualified to undertake the examination because l am a registered
member of ICAS ￿lch is 0￿ of the listed bodies.
I have completed my examination. I confirm that no mallers have come lo my attention giving m@
cause lo believe that in any material ￿Spect..
accounting records were not kept as required by section 44(1){al of the 2005 Act and
Regulation 4 of the Ch¥Tilies AcC(￿nIS (Scollandl Regulations 2006 las amended): or
the fInanc￿l statements do not ac¢x)rd wlh thosa records", or
the financial slatem¢nls do not ￿)mplY with the accounting requirement5 of Regulation 8 of
the Charities Accounts {Scolland) Regulations 2006 las amendèd).
I have no concerns and have Come across ￿ other matters in connection 4Mlh Ihe examination lo
which attention should be drawn in this rerK)rt in order lo enable a proper understanding of the
accounts lo be reached
en
xaminer
5 Argyll Square
Oban
Argyll
PA34 4AZ

Argyll & The Islands Agricultural Trust
Statement of Flnancial Activlties
Year ended 31 December 2024
2024
Unrestricted
funds Totsl funds Total funds
2023
Note
Incom@ and gndowm•nts
Donations and legacies
Charitable activities
Tolal Incom¢
Expenditure
Expenditure on charitable activities
Total expèndlturn
6,819
57,352
64.171
6,819
57.352
1.950
46,819
64,171
48,769
59,297
59,297
42,838
59.297
59.297
42,838
Net Income and net movoment In funds
4,874
4,874
5,931
Roconclliation Of funds
Total funds brought forward
Total funds Carried forward
34.086
34.OAfi
28.15S
38,960
38,960
34.086
The statement of financial aclivilies includes all gains and losses recognised in the year.
All income and expenditure derive from continuing actlvitl8S.
Th• notes on pz4ges 7 to 13 forn) part of th•$• financiol stat•m•nts.

Arg￿1 & The Islands Agrl¢ultural Trust
Statement of Flnanclal Positlon
31 De¢¢mb¢r 2024
2024
2023
Flxed assets
Investrnents
11
15,287
15,287
Cumnt •550ts
Debtors
Cash at b￿K anJ In hand
12
68,913
17,800
56,536
13,008
86,713
69.S44
Cr8dltorn'. amounts falling du• wlthln one y•ar
Net wrr•Tht assets
13
63.040
50,745
18.799
23,673
Tolal assets lass current Ilabllltlès
38,960
34,086
Funds of th• charlty
Unreslricled funds
38.960
34,086
Total charlty funds
14
38,960
34.086
Th se financi
I stalemenls ￿re approved by the board of Irust•es and auth￿ised lor Iswe on
and are s￿ned on behall of the board by:
Th• on 7t0 13 form part of them fln•nGl•l •14l•rn￿ts.

Argyll & The Islands Agricultural Trust
Notes to the Financial Statements
Year ended 31 December 2024
General Infomiation
The Charity is regulated by Trust Deed. the Trust was founded in 1998.
St*t•m•nt 01 ¢ompllane•
These financial slalements have been prepared in compliance with FRS 102, The Financial
Reporting Stsndard 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 IFRS 102) Icharities
SORP IFRS 10211 and the Charities and Trustee Investment (Scolland) Act 2005 and the
Chanly Accounts (Scotlandl Regulations 2006 {as amended).
Accountlng pollcles
Ba$1$ of preparatlon
The financial slalements have been prepared on the hislori¢al cost basis. as modified by the
revaluation of certain financial assets and liabilities and investment properbes measured al fair
value through income or èxpgnditure.
The financial statements are prepared in sterling, which is the funclional curren¢y of the enlily.
Golng con¢om
There are no material uncertainties about the charity's ability to continue.
Dlsclosurè exemptions
The enlily satisfies the criteria of being a qualifyinq enlily as defined in FRS ln? As such
advaniage has been taken of the foll¢Mng disclosure exemption5 available under paragrapli
1.12 of FRS 102..
{al No cash flow statemenl has been presented for the charity.
Ib) Disclosures in respect of finarscial instruments have not been presenled.
Judgem•nts and key sources of trstimation uncèrtainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are conliriuolly reviewe¢ and are baseu on experience and othel factors, including expe¢tslions
of future events that are believed to be reasonable under the circumstances.
Fund a¢counting
Unrestricted funds are available for use at the dlscreiion of the trustee5 to further any of the
charitys purposes.
Designated funds are unrestrfcled funds eamiarked by the trustees for particular future project or
commitment.
Restricted funds are subjected lo reslriclions on their expenditure declared by th8 donor or
through the terms of an appeal. and fall into on8 of two Su￿claSses.. ￿$tricted income funds or
end0￿ent funds.

Argyll & The Islands Agricultural Trust
Notes to the Financlal Statements (contIty4￿￿)
Year ended 31 December 2024
Accounting poll¢l•s (¢ontthu•dJ
Income
All ineomg is includcd in the 818tement of finanGial ablivilies when enriiiement has passed to the
harily, il is probable that the economic benefits associated wlh the transaction wll flow lo the
¢harily and the amovnl can be r81iably measured. The following specific policies are applied lo
particular categories ol income..
income from donations or grants is recognised when there is evidence of entitlement lo the
gift, re￿[pt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is eslablished.
inrnmA from donatèd goods ts maasured at the fair value of the gLuJs uwile&% this Is
impraclicle lo measure reliably. in which case the value is derived from the cost lo the donor
or the eslimaled resale value. Donated facilities and seNices are recognised in the accounts
sthen received if the value can be reliabily measured. No amounts are Included for the
contribution of general volunteers.
income from contracts for the supply of services is recognised wlh the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requiremenl for it to be spent on a particular purpose and returned if unspent, in vknich case
il may be regarded as reslricled.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes
any VAT ¥thich cannot be fully recovered. and is classified under headings of the statement of
financial activities to bthir.h it r8lat8s_'
exp8nditure on raising funds includes the costs of all fundraising activities, events. non-
charitable trading activities. and the sale of donated goods.
expenditure on charitable activities includes All ctx*ts incurred by 2 charity in undertakin9
activities that further ils ch8ritsble aims for the benefit of ils beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is nèrlher related lo raising funds for the
charity nor part of its expenditure on ¢haritable aclivilies.
All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are
apprortioned be￿n the activities they contribute lo on a reasonxblA. jitstifiable 2nd eonsistont
basis.
Investments
Unlisted equity investments are initially recorded al cost. and subsequently Tneasured al fair
value. If lair value cannot be reliably measured, assets are measured at ¢osl less impairment.
Listed investments are measured al fair value smth changes in fair value being recognised in
income or expenditure.

Argyll & The Islands Agricultural Trust
Notes to the Financlal Statements f¢onllnu8dJ
Year ended 31 December 2024
Accounting poll¢l•s f¢onllnuedJ
Invostments In assoclate$
InveJtmenl8 in associates aGGOUTrted for iwi ofjwrdan￿ vAth the cost model are recorded at cost
less any accumulated impairment losses.
Investments in associates accounted for in accordance wlh the fair value model are initially
recorded al the transaction price. At each reporting date, the investments are measured al fair
value, with changes in fair value lakerts through income or expenditure. Where it is impracticable
lo measure fair value reliably without undue cosl or effort, the cost model will be adopted.
Dividends and other dislribulions received from the investment are recognised as income
Ihoul regard lo %thelher the distributions are from accumulated profits of the assouate arising
bèfore OT after the date of acquisition.
Investm¢nt$ in lolnt ventures
Investments in jointly controlled enlilies accounted for in accordan¢e with the cosl model are
rgcorded at ¢ost1o8s any aocumulat¢d impairment losses.
Investments in jointly Controlled entities accounted for In accordance wth the fair value model
are initially recorded at the transaction price. Al ea¢h reporting date, the investments are
measured al fair value, wth ¢hanges in fair value taken through income or expenditure. Where
it is impracticable to magsur* fair value reliably ¥Mthout undue cost or effort, the Gost model wrll
be adopled.
Dividends and other distributions received from the investment are recognised as income
Ihoul regard to ￿ether the distributions are from accumulaled profits of the joint venture
xrising beforè or aflor thè dat• of acquisition.
Impalmitnt of fixed assets
A ieview for indicators of impaimienl is carried out at each reporting date, with the recoverable
amount being estimated wherè ￿llrh indicators exist. Wher& th8 earying value exce¢ds the
recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for
possible reversal al e8ch reporting date.
For the purposes of impairment lesling, when it is nol possible lo estimate the recoverable
amount of an individual asset. an &slimatÈ Fq made of tho recovèrablg amount of the cash-
generating unit lo thich the asset belongs. The cash-generating unil 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 impaimienl testing of goodwrll. the ooodwill acquirèd in a busrness combination is. from thg
acquisition date, allocated lo each of the cash-generating units that a￿ expected lo benefit from
the synergies of the eombinalion. irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Financlal Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party lo
the contractual provisions of the instrument.

Argyll & The Islands Agricultural Trust
Notes to the Financlal Statements (W￿n￿•d)
Year ended 310ecember 2024
Accounting poll¢ies (¢ondnu•dJ
Flnanclal Instruments {contrnu
Basic financial instrL•ments a￿ initially rewgniseil at the amouni re¢eivable or payable including
any related transaction costs.
Current assets and current liabililies ara subsequently measured at the osh or other
consideration expected lo be paid or received and not discounted.
Debt instruments are subsequently measured al amortised cost.
Where investments in shares are publicly traded or their fair value can olhemse be measured
reli8bly, the investment is subsequently measured al lair value wlh changes in fair value
reeognis•d in income and expenditure. All other SUGh investfnents aig subi>e4uently measure(J
at cost less impairment.
Other financial instnjments, including derivatives. are initially recognised at fair value, unless
payment for an asset is deferred beyond nomial business le￿S or financed at a rale of interest
that is not 2 markat rate. in vthiGh ca￿ the tts3et 18 measur¢d at the preseiit value ul Lhe future
payments discounted at a market rale ol interest for a similar debt inslrumenl.
Other financial inslrtJm8nls are subsequently measured al fair value, wlh any changes
rec£Jgnised in the statement of financial activities, wth the exception of hedging instruments in
designated hedging rolationÈhip.
Financial assets that are measured al cost or amortised cosl are reviev*d for objective
evidence of impairment at the end of each reporting dale. If there is objective evidence of
impaimient, an impairment loss is rewgnised under the appropriate heading in the slalemenl of
financial aetiviti8s in ¥thieh thg initi81 gain was recognised.
For all equity instruments regardless of signifi¢ance, and other financial assets that are
individually significant. these are assessed individually for impairment. Other financial asgels
are either assessed individually or grouped on the basis of similar credit risk charaelerislics.
Any reversals of impaiment are recognised immediately, lo the exlenl that the reversal does not
result in 8 carrying amount of the financial asset that eX￿edS what the carrying arnounl would
have been had the impai￿an1 not previously been recognised.
Donations and legacles
Unrestricted Total Funds Unrestricle(l Total Funds
Funds
2024
Funds
2023
Donations
Donations
6,819
6,819
1,950
1.950
Charltable actlvitie5
Unrestricled Tutal Funds Unreslrtcted Total Funds
Funds
2024
Funds
2023
Livestock sales commission
57,352
57,352
46,819
46,819
10

Argyll & The Islands Agrlcultural Trust
Notes to the Financial Statements {willnu
Year ended 31 December 2024
Expendlture on charitable activitles by fund typ•
UnTrslricted Total Funds Unrestn'cled Total Fund5
Funds
2024
Funds
2023
Llveslock sales
SupFX)rt costs
58,117
1,180
58.117
1.180
42,138
700
42.138
700
59,297
59.297
42.838
42,838
Expendlture on charftablo actlvltle$ by activlty type
Activitie$
undertaken
directly Support ¢osts
Tolal funds
2024
Total fund
2023
Livestock sales
Governance costs
58,117
58,117
1,180
42.138
700
1,180
58,117
1,180
59,297
42,838
Independènt examlnation fees
2024
20?3
Fees payable to the independent examiner for..
Indep8ndenl examination of the financial slalements
500
500
Staff cost$
There were no employees during the year {2023'. Nil}.
No employee received emoluments of more than £60,00012023'. Nill.
10. Trusleg remunèration and expenses
The charity Ifuslees were not paid and did not receive any remuneration, benefits in kind or
reimbursement of expenses in their capacity as trustee during the year. No Ifusleo received
payment for professional or other ￿￿rViceS supplied to the charity.
11

Argyll & The Islands Agricultural Trust
Notes to the Financial Stat•mentS
Year ended 31 December 2024
11. Investmenls
Other
investments
Cost or valuatlon
At l Jan 2024
Additions
15,287
At 31 Do¢ 2024
15,287
Impaimient
At 1 Jan 2024 and 31 De¢ 2024
Carrylng amount
At 31 DeG 2024
15,287
At 31 Dec 2023
15.287
All inveslmenls shown above are held at valualion.
12. Debtors
2024
2023
Trade debtors
Other debtors
b8,821
92
56,182
354
68,913
56,536
13. Credltor¥: amounis falling due wlthin one ￿aT
2024
2023
Trade creditors
63,040
50,745
14. Analys1$ of charllable funds
Unrestrl¢ted funds
At
Income Expenditure 31 Doc 2024
At 1 Jan 2024
General funds
34.086
64.171
159,2971
38,960
At
Income Expenditu￿ 31 Dec 2023
At 1 Jan 2023
General funds
28.155
48.769
{42.838}
34,086
The unrestricted fund represents general funds which the Injslees are fre8 to use In accordance
th the charitable objects of the Trust.
12

Argyll & The Islands Agricultural Trust
Notes to th• Financlal Statements {¢ortlnu•dJ
Year ended 31 December 2024
15. Analysis of net assets bethen funds
Unrestricted Total Funds
Funds
2024
Inveslm8nls
Current assets
Creditors less than 1 year
Not assèts
15,287
86,713
{63,0401
38,960
15,287
86.713
{63.0401
38,960
Unrestricted Total Fund$
Funds
2023
Investments
Current assets
Creditors less than 1 year
N•t assets
15.287
69.544
{50,745)
34.086
15.287
69,544
150,745)
34,086
16. R•latod parti8s
The Argyll & The Islands Agricultural Trust have shares in Oban Livestock centre Limited. vhKJ
a￿ also the Landlords of the Trust wth common Oireclors.
As al 31 December 2024. the Trust shareholding in Oban Livesto¢k Centre Limited amounted lo
£15,287 at cost.
13

Argyll & The Islands Agrlcultural Trust
Management Inforniation
Year ended 31 December 2024
The followlng pa9￿ do not fomi part of the finan¢lal ststemenls.
14

Argyll & The Islands Agricultural Trust
Detalled Slatement of Financial Activltl•s
Year ended 31 December 2024
2024
2023
In¢ome and endowments
Donatlons and legacies
Donations
6,819
1,950
Charltable actlvlties
Livestock sales commission
57,352
46.819
Tolal income
64.171
48,769
Expenditur•
Expenditure on ¢haritable actlviti8s
Rent
Legal and professlonal fees
Other office costs
Donations
51,617
800
380
6.500
42,138
500
200
59,297
42.838
Total expenditUFe
59,297
42,838
Net Incom•
4.874
5.931
15

Argyll & The Islands Agricultural Trust
Notes to the Detailed Statement of Financial Actlvities
Year end•d 31 December 2024
2024
2023
Expenditure on choritsble activities
Livestock sales
Aetlvltles undertaken dlreGtIy
Rent
Donations
51,617
6,500
58,117
42,138
42.138
Govemance costs
Accountancy fees
Administration fee
800
380
500
200
1,180
700
Expendlture on choritable activltles
59,297
42,838
16