Charity registration number SC36122 (Scotland) Company registration number SC275071
LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | F MacEachern |
|---|---|
| G R Jack | |
| D J C McCowan | |
| B Duncan | |
| L C Duncan | |
| P J Colquhoun | |
| C J Colquhoun | |
| L McHard | |
| J McCann | |
| Charity number (Scotland) | SC36122 |
| Company number | SC275071 |
| Registered office | Auchendennan Farm |
| Arden | |
| Alexandria | |
| Scotland | |
| G83 8RB | |
| Independent examiner | Paul Thompson |
| Azets Audit Services | |
| Chartered Accountant | |
| Titanium 1 | |
| King's Inch Place | |
| PA4 8WF |
LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: 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 (FRS 102)".
Objectives and activities
Luss and Arden Community Development Trust was formed in March 2005 to deliver community projects in the Luss and Arden area and is run by a dedicated team of volunteer directors and helpers.
Its main aims are:
-
to promote, establish and operate schemes of a charitable nature for the benefit of the inhabitants of the parish of Luss and Arden;
-
to preserve, restore and improve the environment of public open spaces, public amenities and townscapes in the parish;
-
to promote the Community Hydro Scheme in conjunction with Arrochar and Tarbert Community Development Trust to produce renewable energy.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
Charitable activities
The Trust's main charitable activity is to promote projects and actions which would benefit the Luss and Arden community.
Donations have been made to Luss Residents Over 60's Christmas Lunch.
Fundraising activities
Fundraisers are welcomed to be imaginative in raising funds and activities vary from carol singing, race nights in the village hall to overnight stays at the Inverary Jail, which is reputed to be haunted.
The Trust received its fourth community benefit distribution payment from the Community Hydro Scheme which is in its sixth year of operation.
Financial review
Results for the year
The results of the charity for the year are shown in the Statement of Financial Activities on page 4. The charity has raised £56,905 gross funds (2024 - £12,413). Net operating surplus was £52,363 (2024 - £2,793) and total funds are £20,849 (2024 - £73,212).
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management
The Luss and Arden Community Development Trust is a company limited by guarantee, governed by its Memorandum and Articles of Association. It is also a charity registered at the Office of the Scottish Charity Regulator.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
L Duncan
Recruitment and appointment of trustees
The Directors of the charitable company who are also its Trustees are shown above. New Trustees live in the parish of Luss and Arden and are appointed in accordance with the provisions of the Memorandum and Articles of Association. On appointment, new Trustees are made aware of the legal requirements and responsibilities of being a trustee.
The trustees' report was approved by the Board of Trustees.
L Duncan
Trustee
12 March 2026
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
I report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages 4 to 12.
Respective responsibilities of trustees and examiner
The charity trustees (who are also the directors of Luss & Arden Community Development Trust for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.The charity trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.
It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning 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 financial statements.
Independent examiner's statement
In the course of my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1)(a) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
-
to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
12 March 2026
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 3 55,570 - Other trading activities 4 1,335 - Total income 56,905 - Expenditure on: Charitable activities 5 4,542 - Total expenditure 4,542 - Net income and movement in funds 52,363 - Reconciliation of funds: Fund balances at 1 April 2024 20,810 39 Fund balances at 31 March 2025 73,173 39 |
Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 55,570 11,008 - 1,335 1,405 - 56,905 12,413 - 4,542 9,620 - 4,542 9,620 - 52,363 2,793 - 20,849 18,017 39 73,212 20,810 39 |
Total 2024 £ 11,008 1,405 |
|---|---|---|
| 12,413 9,620 |
||
| 9,620 | ||
| 2,793 18,056 |
||
| 20,849 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
BALANCE SHEET
AS AT 31 MARCH 2025
| Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities The funds of the charity Restricted income funds 14 Unrestricted funds 15 |
2025 £ 70 76,813 76,883 (3,672) |
£ 1 73,211 73,212 39 73,173 73,212 |
2024 £ 204 27,046 27,250 (6,402) |
£ 1 20,848 |
|---|---|---|---|---|
| 20,849 | ||||
| 39 20,810 |
||||
| 20,849 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 12 March 2026
L Duncan
Trustee
Company registration number SC275071 (Scotland)
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
Charity information
Luss & Arden Community Development Trust is a private company limited by guarantee incorporated in Scotland. The registered office is Auchendennan Farm, Arden, Alexandria, Scotland, G83 8RB.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: 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 (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Donations and gifts | 55,500 | 11,000 |
| Membership fees | 70 | 8 |
| 55,570 | 11,008 |
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4 Income from other trading activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Fundraising events | 1,335 | 1,405 | |
| 5 | Expenditure on charitable activities | ||
| Total | Total | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Insurance | 224 | 234 | |
| Luss Primary School Donation | - | 1,812 | |
| Luss Residents Over 60's Christmas Lunch | 750 | - | |
| 974 | 2,046 | ||
| Share of support and governance costs (see note 6) | |||
| Support | 3,568 | 7,574 | |
| 4,542 | 9,620 | ||
| Analysis by fund | |||
| Unrestricted funds | 4,542 | 9,620 | |
| 6 | Support costs allocated to activities | ||
| Total | Total | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Governance | 3,568 | 7,574 | |
| 7 | Net movement in funds | 2025 | 2024 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | 514 | 478 |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
9 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2025 | 2024 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Tangible fixed assets
| 11 Tangible fixed assets |
||
|---|---|---|
| Cost At 1 April 2024 At 31 March 2025 Depreciation and impairment At 1 April 2024 At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 12 Debtors Amounts falling due within one year: Prepayments and accrued income 13 Creditors: amounts falling due within one year Other creditors |
Computers £ 536 536 535 535 1 1 2025 2024 £ £ 70 204 2025 2024 £ £ 3,672 6,402 |
|
| 536 | ||
| 535 | ||
| 535 | ||
| 1 | ||
| 1 | ||
| 2024 £ 204 |
||
| 2024 £ 6,402 |
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
14 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At Hogback stone restoration Previous year: At Hogback stone restoration |
1 April 2024 At 31 March 2025 £ £ 39 39 1 April 2023 At 31 March 2024 £ £ 39 39 |
|---|---|
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At General fund Playpark fund Previous year: At General fund Playpark fund |
1 April 2024 Incoming resources Resources expended At 31 March 2025 £ £ £ £ 17,516 56,905 (4,290) 70,131 3,294 - (252) 3,042 20,810 56,905 (4,542) 73,173 1 April 2023 Incoming resources Resources expended At 31 March 2024 £ £ £ £ 12,911 12,413 (7,808) 17,516 5,106 - (1,812) 3,294 18,017 12,413 (9,620) 20,810 |
|---|---|
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LUSS & ARDEN COMMUNITY DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
16 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2025 2025 £ £ At 31 March 2025: Tangible assets 1 - Current assets/(liabilities) 73,172 39 73,173 39 Unrestricted Restricted funds funds 2024 2024 £ £ At 31 March 2024: Tangible assets 1 - Current assets/(liabilities) 20,809 39 20,810 39 |
Total 2025 £ 1 73,211 |
|---|---|
| 73,212 | |
| Total 2024 £ 1 20,848 |
|
| 20,849 |
17 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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