The lona Housing Partnership (A company limited by guarantee) Unaudited Financial Statements 31 July 2025 Company Registration Number SC253442 Charity Registration Number SC034851 Simtners & Co OBAN The lona Housing Partnership Company Limitsd by Guarantee Financial Statements Year ended 31 July 2025 Page Tru5tees' annual report (incorporating the direttor's reporr) Independent examiner's report to the trustres Statement of financial attivitie5 (including income and expenditure account) Sratement of financial position Notes to the financial statements 8- 14 The following page5 do not form part of the financial statements Detailed st2￿ment of financial activities 16 Notes to the detailed statement of financial activities The lona Housing Partnership Company Limited by Guarantee Tru5tee5' Annual Report (Incorporating the Director's Report) Year ended 31 July 2025 The trustees, who are also Ihe dire(tor5 for the purposes of company law, present their report and the Lsnaudited financial sta￿MentS of the chariry for the year ended 31 July 2025. Reference and administrative details Registered charity name The lona Housing Partnership Charity registration number SC034851 Company registration number SC253442 Principal office and registered office clo Simmers & Co Albany Chambers Albany Street Oban PA34 4AL The trustees Mrs F Menzie5 M5 F Kyle Mrs R Knight MsSFox Ms J Simpson Mr W Gregory Mrs K Russon Ms A Lennan Ms M Syme Ms R Hampcon Ms L O, Neill Ms Z MacDonald Ms A Bunrey (Resigned I September 2025) (Resigned 25 February 2026) {Re5igned I September 20251 {Appointed I September 2025) (Appointed I September 2025} {Appointed I September 2025} {Appointed l O September 2025) {Appointed I September 20251 {Appointed I September 20251 {Appointed 20 Ottober 2025) {Appointed 18 October 2025) Independent examiner David McGregor CA Simmers & Co Albany Chambers Albany Street Oban Argyll PA34 4AL The lona Housing Partnership Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (continued) Year ended 31 July 2025 Structurei governance and management Legal & Administrative Stsws lona Housing Parcnership. incorporated on 29th july 2003, is a company limited by guarantee. with no share capital, and is registered as a ScotC15h Charity wth the H M Revenue & Customs, governed by its memorandum and arucles of association. Organisarion The day-ro-day operations of the company are run by the directors. Objectives and artivities The company objeccives are.. l. To assist and enable necessitous residerbts on the151and of lona through the provision of affordable housing. 2. To relieve the needs of persons suffering from mental or physical disability, illne55, impairment or old age, within the Operating Area, through the provision. or assisT2nce in the provision. of housing specially adapted to meet their requirements. Strategic report The following sections for achievements and performance and financial review form the strateg't report of the charity. Achievements and performance The lona Housing Partnership has spent this financial year exploring ways to help address the current housing deficit on lona. With property prices continuing to rise and fewer children enrolling in the local school, the communiry has reached a piyotal point. We are now looking co work more closely with other local groups to determine how we can move forward Eogecher and begin fundraising efforts to support affordable housing initiatives. As part of thi5 work, the Partnership has made a donation to the Mull and lona Community Trust to 5UPPOrt a feasibiliry study. The study will explore the potential redevelopment of an old bLsilding on Isle of lona that could provide much-needed affordable housing for the community. Financial review The charity realised a deficit on unrestricted activities of £5,29812024- deficit £334) and a no surplus or deficit on restricted funds 12024 nil). At the year end the charity had unrestricted reserves of £6,561 {2024 £11.859) 2nd reStriC￿d reserves of £ 1.000 {2024 - £1,000). TIFQ lon¥ HousinE Partnershrp Company Lin71ted by Guarantee Tru5tet5 Annual Report {IncorporatinE tht Oirector's Report) (continued) Year ondÈd 31 july 2025 Plans lor future periods As p3rr ol Ihc work willi Mull and lonH Comniuniiy Trusi. we ourselves will be looking Inio S£oiiish 12nd Fvnll and orhci options for si owin£ oui- comniuniLy. Wc irc exciied lot the luiure xnd look forward io growing The lona Hov51ng Partnership. Thc trustees annual I'cpori And the 5lt aieElC repon were approved on 17 March 2026 and signed on beliall ol thc board ol ii'usioÈs by.. Mr W Gregory TTU5tec The lona Housing Partnership Company Limited by Guarantee Independent Examiner's Report to the Trustees of The lona Housing Partnership Year ended 31 July 2025 I report to the trustee5 on my examination of the financial statements of The lona Housing Partnership I'the charity'l for the year ended 31 July 2025. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee InYe5tment {Scotland} Act 2005 {'the 2005 Act.), the Charities Accounts (Scotlandl Regulation5 2006 (as amended) and the Companies Ac¢ 2006 ('the 2006 Att,). You are 5at15fied that the accounts of the company Are not required by charity or company law to Ee audited and have chosen instead to have an independent examinacion. Having satisfied myself thai the accounts of the company are not required to be audited under Part 16 of the 2006 Att and are eligible for independenc examination. I report in respect of my examination of the charity's accounts carried our under section 44{Illcl of the 2005 Acc. In carrying out my examination I have followed the requirements of Regulation I l of the Charities Accounts {Scotland) Regulation$ 2CQ6 (as amended). Independent examiner's statement Since the chariry is required by company law to prepare its accounrs on an accruals basis and 15 registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11 {2} of the Charities Accounts {Scotlandl Regulations 2006 {as amendedl- I can confirm that l am qualified to undertake the examination because l am a re&'s¢ered member of IG4S which is one of the listed bodies. I have completed my examination. I confirm chat no rnat￿rS have come to my attention in connettion with the examination giving me cause to believe.. accounting records were not kept in re5pett of the charity 2s required by settion 386 of the 2006 Acc, section 44{11{al of the 2005 Act and Regulation 4 of the 2006 Ac¢ount5 Regulation5,' or the financi31 statements do not accord with those record5 or with the accounting requirement5 of Regulation 8 of the Charities Accounts (Scotlandl Regulations 2006-, or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requiremeni thar the accounts giye a 'true and fair, view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Praccice for accounting and reporting by chariries applicable to eharities preparing their accounts in accordance with the Financial Reporting Srandard applicable in the UK and Republic of Ireland IFRS 1021. The lona Housing Partnership Company Limited by Guarantee Independent Examiner's Report to the Trustees of The lona Housing Partnership (continued) Year ended 31 July 2025 I have no concerns and have come across no other mairers in conr¢ection with the examination to which at￿￿tion should be drawn in this report in order to enable a proper understanding of che accounts to be reached. David McGregor CA Independent Examiner Simmers & Co Albany Chambers Albany Street Oban Argyll PA34 4AL The lona Housing Partnership Company Limited by Guarantee Statement of Financial Activities (including income and expenditvre account) Year ended 31 July 202S 2025 Unrestricted Restricted funds funds 2024 Toral Funds Total funds Note Expenditure Expenditure on raising funds: Costs of raising donations 2nd legacies Expenditure on charirable activities 6,7 5,000 298 5,000 298 334 Total expenditure 5.298 5.298 334 Net expenditure and net movement in funds 15.2981 (5,298) 1334} Reconciliation of funds Total funds brought forward 11,859 1.000 12.859 13.593 Total funds carried fonvard 6,561 1.000 7.561 12.859 The statement of financial attivities includes all gins and losses reeognised in Ihe year. All income and expendicure derive from continuing activities. The notes on pages 8 to 14 form part of these financial statements. Tho lona Housing Partnership Company Limited by Guaranteo St3t¢ment ol Financial P051tion 31 July 2025 2025 2024 NotÈ Filed a55etS Tangible fixed 35StlS 1,000 1.000 Ctsrrent a55ets Cash 31 bank and In hand 7.099 Crèditors.. amounts f311ing due within one year 12 538 758 Net current assets 6.561 11.859 Total assets les% current liabilities 7.561 12.859 Net asset5 7.561 12.859 Fund5 of the Charity Re5tr'icied lund5 Unre5tricied lunds 1,000 6,561 i.ooo 11,859 Total rhariry fund5 7.561 12,859 f or the ye3r ending 31 lull 202S Ihe chariiy entitled ro exemprion from audit under section 477 of the Companies Aci 2006 relaiing 10 SMAII companies. Direciors, respon51bilitie5-. Thc members have noi required the cornp3ny to obtain an audit of ils fin3nci31 siatelnents for the ycar In quesiion In Ictordance wi(h section 476.. The directors 3cknowledge Iheir responsibilities for complying with Ihe requirements ol the Act wirh respeu 10 accounting record5 and (he preparaiion of financial statemenis. These lin3ncial stsiements h2vo be@n prepared in accordance wilh ihc proYisiDn5 applicable to companies subject to the sm311 £ompanie5 regirne. These firtènciil sraiements wert approved by the b03rd of trusiees ind authorised lor Issue on 17 March 2026. and 3re signed on behalf ol the board by. Ms J Simpson Trusiee Mr W Gregory Ti-usLee The notes on pages 8 to 14 form part of these financial statements. The lona Housing Partnership Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2025 General information The charity is a public benefit entiry and a private company limited by guarante. registered in Scotland and a registered charity in Scotland. The address of the registered office is clo Simmer5 & Co, Albany Chambers. Albany Street. Oban, PA34 4AL. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Sr2tement 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) (Chariries SORP IFRS 10211 and the Companies Act 2006. Accounting policies Basis of preparation The financial sta￿MentS have been prepared on the historical cost basis, as modified by the revaluation of certain financial asset5 and liabilities and investmeni properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entiry. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial Statemen￿ requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of Ihe charity's purposes. Restricted funds are subjected to restriction5 on their expenditure declared by the donor or through rhe terms of an appeal and fall into one of two 5ub-classe5'. restricted income funds or endowment funds. The lona Housing Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2025 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial atcivities when entitlement has passed to the charicy- it is probable that the economic benefits associated with the transaction will flow w the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. Income from donations or grants is recogni5ed when there is evidence of entitlement co the ft, receipt is probable and its amount can be measured reliably. Legacy income is recognised when receipt is probable 2nd enritlement is established. Income from dOna￿d goods 15 measured at the fair value of the goods unless this is impractical to measure reliably, in which case the v21ue 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 che value can be reliably measured. No amounts are included for the contribution of general volunteers. Income from contracts for the supply of services is recognised with the delivery of the concratted service. This is classified as unre5tritted funds unless there is a contractual requirement for tt to be spenc on a particular purpose and returned if unspenL in which case ic may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as 2 liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under heading5 of the stacement of financial acvyities to which it relates.. Expenditure on raising funds includes the costs of all fundraising activities, events. non. charitable trading activities. and Ihe sale of donated good5. Expenditure on charitable activities includes all costs incurred by a Charity in undertaking activities that furcher its charitable aims for the benefit of its beneficiaries. including chose 5UPPOrt costs and costs relating to the governance of the charity apportioned to charitable activities. Other expenditure includes all expenditure that is neither related to raising fund5 for the charity nor part of its expenditure on charitable activities. All cosrs are allocated to expenditure categories refletting che use of the resource. Direct costs attribtJt2ble to a single activiry are allocated directly to that activity. Shared costs are apporrioned between the activities they contribute to on a reasonable. justifiable and consistent basis. The lona Housing Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2025 Accounting policies (contlnued) Tangible assets Tangible a5set5 are initially recorded ac cost and subsequently sraced at cost less any accumulated depreciacion and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of reValUat￿on less any subsequent accumulaied depreciation and Subsequent accumulated impairment losses. Impairment of fixed assets A review for indicators of impairment 15 carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amoun¢ che asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment tesiing. when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the assei belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows thaE largely independent of the cash inflows from other assers or group5 of assets. Financial instruments A financial asset or a financial liabiliry is recognised only when the charity becomes a party to the contraccual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured ac the cash or other consideration expected to be paid or received and noc di5countsd. Financial assets that a￿ measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If chere is objective evidence of impairment. an impairment loss is recognised under the appropriate heading in the statement of financial acEivitie5 in which the initial gain was recognised. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the irnpairment not previously been recognised. 10 The lona Housing Partnership Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 July 2025 Limited by guarantee The company is limitsd by guarantee and has no share capital. In the event of the company being wound up, members liability is limited to £ l each. Costs of raising donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of raising donations and letdcies- Grants paid 5,000 5.000 Expenditure on charitable activitie5 by fund type Unre5tritted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Support Costs 298 298 334 334 Expenditure on charitable artivities by activity type Support Total funds Total fund costs 2025 2024 Governance costs 298 298 334 The lona Housin8 Partnership Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 July 2025 Independent examination fees 202S 2024 Fees payable to the independent examiner for. Independent examination of the financial statements 298 334 Staff costs The average head count of employees during the year was Nil {1024- Nil}. No employee received employee benefits of more than £60.000 during the year (2024.. Nil). l O. Trustee remuneration and expenses No remuneration or other benefits from employment with che charity or a related entity were received by the trustee5. I l. Tangible fixed assets Freehold property Cost At l August 2024 and 31 July 2025 1,000 Depreciation At l August 2024 and 31 July 2025 Carrying amount At 31 July 2025 1.000 At 31 July 2024 I,ooo 12. Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 538 758 The lona Housing Partnership Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2025 13. Analysis of charitable fund5 Unrestricted funds At I august 2024 Expenditure At31 July 2025 General funds I,¢)00 1.000 Atl August 2023 ExpendFture At31 July 2024 General funds 12,193 1334) 11,859 Restricted funds At I august 2024 Expenditure At31 July 2025 Restricted Fund 1,000 1,000 At I august 2023 Expenditure At31 July 2024 Restricted Fund 1,000 1,000 Covid 19 Resilience fund - the charity was 5ucces5ful in securing £ 1.000 from the fund. The monies were used to buy tools and materials for the Glebe Communiry Garden. 13 The lona Housing Partnership Company Limited by Guarantee Notes to the Financial Statement5 (contlnued) Year ended 31 July 2025 14. Analysis of net assets between funds Unrestricted Restricted Total Funds Funds Funds 2025 Intangible assets Tangible fixed assets Current assets Creditors less than l year i.¢)00 1,000 7,099 (538) 7.099 15381 Net assets 6,561 1,000 7.561 Unrestricted Restricted Toral Funds Funds Funds 2024 Intsngible assets Tangible fixed assets Current assets Creditors less than l year 1.000 1,000 12,617 (7581 12,617 (758) Net assets 11,859 1.000 12.859 15. Financial instrument5 The carrying amount for each category of financial instrument is as follows: 2025 2024 Financial assets measured at fair value through income and expenditure Financial assets measured at fair value through income and expenditure 8.099 13.617 Financial liabilities measured at fair value through income and expenditure Financial liabilities measured at fair value through income and expenditure