CHARI REGISTRATION NUMBER: SC032246 Lachlan Trust Unaudited Financial Statements 31 October 2025
Lachlan Trust Flnanclal Ststoments Year ended 31 October 2025 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities ststement of financial posits'on Notes to the financial ststements
Lachlan Trust Trustees. Annual Report Year ended 31 October 2025 The trustees present their report and the unaudrted financial Statements of the chanty for the year ended 31 October 2025. Roffjrence and admlnlstratlve delails R•gl#t•r•d charlty namo Lachlan Tfust Charity rngi•tration nUrnr SC032246 Prlnclpal offic• Toward Ochlochy Park Dunblan8 FK15 ODX Thg tru•t• James W. Glkhri$t E. J. R. Maclachlan of Maclachlan C. Maclachlan Yr of Maclachlan Donald F. Maclauchlan l. K. Maclachlan Lionel F. Gilchrist NkOla5 Makin Mr Alasdair MacLauchlan John McLachlan Rithard Bowrnan (Appointed 31 May 2025) struc* govomanc• and managemont Govemlng t)ocuments The LaGhlan Trust is a charttab18 unincorporated association and our purpose8 and administration arrangements are set out in our constitution. Re¢rurtmanl and Appointrn•nt of New Trustees Trustees are nominated by the ExeGulr¥e Trte8, subject to ratification by the other truste al the AGM. Organisational Structure The board of trustoes have responsibility for all strategic decisions of the charity, with the trustee8 also having overall responsibility for day-t(aY management of the chafity. Risk Management The trustee8 have a duty to identrfy and review the risks to thich the charty 18 exposed and to ensure appropriate controls are in place to provide reasonable assurantE against fraud and error. The Irustees continually review risks to which the charity is exposed. establishing appropriate systems and procedures to manage those nsks where required.
Lachlan Trust Trustees. Annual Report Year ended 31 October 2025 Objectivgs and adivities Purposes The advancement of education. the advanMent of cil¢zenship or community development, the advancement of the arts. heritage. culture or scien, the advancemerrt of environmental protection or improvement. objectives a) To restore, protect and preserve for the benefit of the public. the propety known as Kilmorie Chapel and its associated buikjings in Strathlachlan. In such furtheran the Trustees shall in Co-operation wrth Historic Scotland to appoint an architect and employ contractors to Garry out the necessary repairs to the fabric of buildings. bl To fom). establish and support and to aid in the fomiation. establishment and support of any other charttable companies. instslutions, associations. trusts. or sooeties forn1 for objects similar lo the objects set out above. Conservation of Old Castle Lachlan Preservation of th8 scheduled ancient monument Protection ol the historic fabric of the structure Providing safe public acce5S to the Casue and suffounding area.
Lachlan Trust Trustees. Annual Report Iconun Year ended 31 October 2025 Achi&vemènts and wrfomianco Introduction The Lachlan TrustlRegistered charty number 032246) was constituted to cx)nserve and protect old Castle Lathlan and the sutrounding landscape for future generations. The Trustees and Treasurer afe as folbws.. James W. Gilchrist Euan JR Maclachlan of Madachlan Chades GR MacLgchLgn of Maclachlan Donald F. Maclauchlan Richard Bowman Lionel F Gilchrisl Colonel Nicolas Makin John McLachlan Alasdair Mclauchlan lan Maclachlan (Exeujtive Trustee) The Trust has already successfulty undertaken works to conserve Kilmory Chapel, build a new footbridge, access paths and to stabilise the ¥t vrdll of the Okl Castle. The Twstees continue to regard the conseNation of Old Castte Lachlan as a matter of signtfi¢ant histOriC81 importance. not only to Clan Maclachlan. but also the k)cal communty and general public. The scheduled monument remains exposed to severe ¥ather rnnditions on the shores of Loch Fyne and numerous visitors. During the reporting period increased structural deterioratton has been identified in several areas of masonry. As a ¢j)nseqUen, the tmstees have developed proposals for emergency conseNation V•Drks, which are nthv appft)ved in principle by Historic Environment Scotland and it is hoped vill be carried out in 2026. Main activities During the reporting period. the Trust have undertaken the folkmng: Developed a heme of works to make safe the structure and improve public access to the first floor. Obtained s¢heduled rnonument i>)nsent(SMC) for the emergency cOr¥al)n works. Commenced addressirKJ the fa)ndibons attached to the SMC approval. including undertaking a bal and bird SUeY. Prepared estimates the proposed works and quotations frc¥n stone masons.
Lachlan Trust Trustees. Annual Report Iconfrnu Year ended 31 October 2025 Financlal review Reserves Policy The General Fund at 31 October 2025 represents unrestricted funds to the sum of £33,886. This fund is availab lo be used by the trustees in furtheranee of the charitys objectNes. Finanaal Position The financial position during the year has been quÉte 51able vlith only expendiiure on insurance{NFU) the bat survey. Architects invoice and Ross and Co the accountants. being the most sKJnificant. Income is from Clan Madachlan subscripthjns and money coming in for dedication plaques on the footbridge. At 6th May, The Trust was in funds of £33,216.12. However, following the Lachlan Trustees Meeting of the 19th of May, The So¢ty of AJMeita transferral £54.979.84 to the Bank of Scotland Account. The general fund represent unrestricted funds to the sum of £88.200.76 at 28 May 2026. This amount s available to be used by the Trustees in fvrtherance of the ¢hartties objectives. Plans for futur¢ period$ Conclusion The Lachlan Trust has had a posrlive period and moved forward the proposed conservation work to Old Castbe Lachlan. It is hoped in 2026 the work can be fully approvgj by. HES and MPleted. It is proposed to expend the budget estimate for the work of £95.000. Induding VAT in August 2026. The Trust has pledges of some £10.000 from private indNrduals to cover the shortfall, and are seeking addÉtional small Grants Which would enable us to expand the scope of wot* being undertaken. The trustees, annual rep(Kt wa8 approved on 20 JU 2026 and signed on behaw of the board of trustees by= lan K MacLachlan l. K. Maclachlan Trustee
Lachlan Trust Independent Examiners Report to the Trustees of Lachlan Trust Year ondod 31 October 2025 I report on the accounts of the charty for the year ended 31 October 2025 which are set out on pages 1to13. Rospectlve rèspon8lbSlttle8 of trustges and gxaminér The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charitie5 and Trustee Investment Iscollandl Act 2005 and the Charities Accounts IS¢otland} Regulations 2006 las amendedl. The charrty Iruslees consider that the audit requirement of Regulation 1011) la) to (cl of the 2006 Accounts Regulattons does not apply. It is my responsibility tr) examine the accounts as required ufider section 4411) Ic} of the Act and lo slate whether particular matters have come lo my attention. Basis of ind•p•nd•nt oxaminer'• •tatornont My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the ch8rty and a comparison of the aecounls presented with those records. It also includes cOnSeration of any unusual items or disclosu¥es in the accounts. and seeks explanations from the Iruslees conceming any such matters. The procedures undertaken do not provide all the evidence that WOL¢ld be required in an audit. and consequently I do not eXpsS an audsl opinion on the view given by the accounts. Indgpend8nt •xamlnar's •tatement In the Gourse of my examination, no matter has come to my attents'on which gives me reasonable cause to believe that in any material respect the fequir8ments'. to keep accounling records in accordan with Section 4411) (al of the 2005 Act and Regulation 4 01 the 2006 Accounts Regulations to prepare accounts which accord wrth the accounting records and comply with Regulation 8 of the 2006 Accounts Regulation$ have not been met, or to which, in my opinion, attents'on should be drawn in order to enable a proper understanding of the accounts lo be reached. James R. B. Ross B.A., C.A. 80 Argyll Street Dunoon PA23 7NE Independent Examiner 20 July 2026
Lachlan Trust ststement of Financial Aclivities Year ended 31 OctOr 2025 202S Unrestricted funds Totsl fund8 Total funds 2024 Income and endowment• Donations and legacies Total Income 1,47S 1.475 Expondlturfr Expendilure on charitable activrtie8 Totsl oxpandlturo 1,393 1,393 1.393 1.363 1,393 1,363 Net (expendknr•yln¢omo and not movement In funds {450) 1450) 112 R•conclllatlon of fund• Total fund$ brought forward Total fund• carrfed forward 34,336 33,886 34,336 33,886 34.224 34,336 The statomont of financial actIv.e8 includes all gains and th8es recognised in the year. All income and expenditure derive from continuiThJ activiti'es. Tho notss on pag•s 8 to 13 forni part of th0 flnanclal 8lat•m•nts.
Lachlan Trust statement of Flnanclal Posltlon 31 Octobor 2025 2025 2024 Current as8et• Debtors Cash at bank and in hand 11 99 34,817 34,916 CrgditOT5: amounts falling due within one year Net currgnt assgts 12 580 580 33,886 33.886 33.8B6 34,338 34,336 Total assets less current liabiliti Net assets 34,336 Fund8 of the charlty Unrestricted funds 33.886 34,336 34.336 Totsl charity funds 13 33.886 These financial statements Ire approved by the board of trustees and authorised for issue on 20 July 2026, and are signed on beha of the board by". lan K MacLachlan l. K. Maclachlan Trustee Th8 not•s on pa 8 to 13 form part of the flnanclal stat•m•nts.
Lachlan Trust Notes to the Flnanclal Statements Yoar onded 31 October 2025 Gengrnl infonnation The chanty is a public benefft enllty and a registered charity in Scotland and is unincorporated. The address of the prinapal Offi is Toward, Ochlochy Park, Meams Kit Road, Dunblane, FK15 ODX. Ststsmont of Gomplian These financial statements have been prepared in Complian with FRS 102. Tre Financial Reporting Standard applicab in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable to Charit prepaTing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republ of Ireland IFRS 1021 (Charities SORP IFRS 102}l and the charit and Trustee Inveslment {slIand) Act 2005 and the Chanty Accounts Iscotlandl Regulations 2006 las amended). Accounting poliGies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of rtain financial assets and liabilities and investment PrOpertS measured at fair value through income or expenditure. The financial stments a ppared in stsding, which is the funth.onal currency of the entity. Golng concern There are no material UrtaInlieS about the thanty'$ abilrty to ntsnu8. Judgements and kgy sources of estimation uncartalnty The preparation of the financial statements requires management to make judgements, eslirnates and assumptions that affect the amounts reported. These estimate5 and judgements are continually reviewed and are based on experien and other lathrs. including expectations of fLrture events that are believed to be reasonable under the circumstsnces. Signrficanl judgements The judgements (apart from those involving estimations) that management has made in the process of apptying the entys accounting policEs and that have the most signrficant effect on the amounts reciyjnised in the finan¢Éal statements are as fdlows". There a no judgements by management in the process of applying the ent.5 accounting policies that have a sHJnificanl effect on the amounts recognis in the finanaal statements. Key sources of ests"matson uncertainty Accounting estimates and assumptions are made conceffling the future and, by their nature, will rarely equal the related actual OLrtcOff. The key assumptions and other sources of estimation UnrtaInty that have a signrficanl risk of causing a material adjustrnent to the carrying amounts of assets and liabilrties within the next financiql year are as follows.. There are no material accounting estimates and assumptions that have a SigntrinI fisk of causing a material adjustment to the rarrying amounts of &&sets and liabilities within the next financial year.
Lachlan Trust Notes to the Financial Statements Year endod 31 October 2025 Accountlng polici88 (conttnwdj Fund accounting Unrestricted funds are available for use at the diSCren of the trustees to further any of the charity's purposes. Despjnated funds are unrestricted funds eamiarked by the trustees for particular future project or commitrmenl. Restricted funds are subjeCed to restridions on their expenditure declared by the donor or through the tems of an appeal, and fall into one of Iwo sutKlasses'. restrtcted income funds or endowrnent fundy. Incomlng resources All incoming resources are induded in the ststement of finanoal actr¥th"es when entrtlement has passed lo the tharity,. it is probable that the economic benefits associated wilh the transaction will flow to the ¢harty and the amount can be reliabty measured. The followng specific policies are applted to particular categorEs of income: income from donations or grants is recognised when there is eVen0 of entitment lo the gift, receipt ks probable and its amount can te measured reliabty. legacy income is recogntsed when receipt is probabte and entitlement is established. in¢ome from donated goods is measured at the fair value of the goods untess this is impractical to measure reliably. in whith case Ihe value is derived from the cost to the donor or the estimated resale value. [jonat farylities and services are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of servi05 reC3nised with the delivery of the contracted servic*. This is classified as unrestricted funds Un88 there is a contractual requirement for rt to be spent on a PacUlar purpose and retumed rf unspent. in which case it may be regarded as restricted.
Lachlan Trust Notes to the Flnanclal Statements Year onded 31 October 2025 Accoufttlng policies (CnU RosourGe¥ exnded Expendrture is recognised on an accrL¢als basis as a liabilty is incued. Expenditure includes any VAT which cannot be fvlty recovered, and is classified under headings of the statement of financial activit$ to whith it relates: expendFhJre on raising fund$ in¢ludes the sts of all fundraisM)g activits, events, non- charitable trading adivrt, and the sale of donated goods. expendrture on charitable activities indudes all ensts incurred by a eharity in undertaking acts"vities that further rts charitable aims for the benefit of its beneficiaries. including those SUPPOrt costs and costs relating to the govemance of the charlty apportioned to charrtable other expenditure includes all expendilure that is neither related to raising funds for the charrty nor part of its expenditure on Charitab acIN1t. All costs are allocated to expendf(ure categories reflecting the use of the resource. Direct costs attributab lo a single activty are alloca directty to that activity. Shared costs are apportioned between the activities they contribute lo on a reasonable, justifiable and o)nsistent basis. Financial instruments A financial asset or a financial liabilty is recc•Jnised onty vhn the charity becomes a party to the contractLMI provi&ons of the inslrument. Basi¢ finanrial instruments are initialty re¢(¥Jnised al ts amount l¥able or payable including any related transaclion costs. Cuffent assets and current liabiif(s are subsequenty measured at the cash or other consideration expected to be pah4 or re(ived and not discounted. Debt instruments are subsequenty measured at amor11 cost. Where investments in shares are publth traded or their fair value can otheThYtse be measured reliably, the investrnent is subsequenuy measured at fair value wlh changes in fair value fecognised in income and experKlitUfe. All other such in¥estments are subsoquentty measured at cost $5 impairment. Other financial instruments, intJLMling denvatives, are InrtlIY recognwd at fair value. unless payment for an assel is deferTed beyond normal busiress temis or finan¢*d at a rate of interest that is not a market rate. in whith case the asset is measured at the present value of the future payments di$counled at a market rate of interest for a similar debt instnjment. Other finan¢ial instwments are Subseq measur&J at fair value. with any changes recognised in the statement of financial activits'es, wtth the exception of hedging instruments in a desKJnated hedging reLationshy. Financial assets that are measured at cost or amortised cost are reviewed for objectNe evidence of ImpalmnI at the end of each reporting date. If there is objective eviden of impairment, an impaimient loss is recognised under the appropriate heading in the statement of financial actr¥ities in which the initi.al gain was recognised. -fo-
Lachlan Trust Notes to the Flnanclal Statements Year ended 31 October 2025 Accounting policies {c¢¥thu Financial instnunents For all equty instruments regardless of sunffiCan. arKI other financaal assets that are individually significant, these are assessed irKIMdualty ts impainnenl. Other finanal assets are erther assessed indNhJualty or grouFed on the baw of sirnar credrt r*k characteristi¢%. Any reversals of impainTrt are reccxJniwJ to the extent that the reversal does not result in a carTwng amount of ts finan1 asset that exwjs ¥knat the carryirKJ amnI would have been h•J the impaiTmefrt not prev5 been recc¥3nised. Donations and lega¢i unreStrirt Total Funds Unrestricted Total Funds Funds 2025 FurKIs 2024 Donation8 Donation- C.A.F. 1,475 1,475 Expondituro on ¢harilablg activili•s by fund typo Unfestrthj T¢)tsl Funds Unrestricl8J Total Funds FuThls 2025 Funds 2024 Unrestrirted Fund$ Support costs 355 1.038 298 1.065 298 1.065 1,038 1.393 1.393 1.363 1.363 6. Expondltyre on charllable aclSvftDe8 by acovlty ty undertaken Total funds 2025 Totsl fund 2024 Unrestricted Funds G0Veman costs 745 751 612 355 1.038 1.393 1.363 Anatysis of Support costs Unrestricted Fund T¢)ts12025 Total 2024 Govefflan costs Insuran Domain Name Costs 648 291 612 291 162 291 1,038 1.1K5 11
Lachlan Trust Notes to the Financial Ststements Year •nded 31 October 2025 Indopgndgnt examination fe88 2025 2024 Fees payable to the independent examiner for. Independent examinatson of the financial statements 612 Stsff costs The average head wunt of employees during the year was Nil (2024: Nir). No employee reoived employee tefftS of more than £60,000 dunng the year12024.' Nil). 10. Trustèè rnmun•ration and expen$os No remuneTation or other benefits from employment wrth the charity or a related entsty were received by the trustees. 11. Dgbtors 2025 2024 Prepayments and aLwed income 99 12. crlt0. amounts falling du• within one year 2025 2024 Accruals and deferred income 580 13. Analysis of charilable fund8 Unrnstr1ct funds At 31 OCtoT 2 025 1 November 2 024 InL7)me EXPendire General funds 34.336 11,393} 33,886 At 1 November 2 023 At 31 October 2 024 Income Expenditure General funds 34.224 1.475 11.363} 34.336 12-
Lachlan Trust Notes to tho Financlal Statements Year •ndad 31 October 2025 14. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Current assets Creditors less than 1 year Not assets 34,466 (580} 33.886 34.466 1580) 33,886 Unrestrided Total Funds Funds 2024 Current assets Creditofs less than 1 year Net assets 34,916 (5801 34.336 34,916 15801 34,336 -13-