COMPANY REGISTRATION NUMBER: SC281265
CHARITI REGISTRATION NUMBER: SC036343
MORAY TEXTILE PROJECT
Company Limited by Guarantee
UNAUDITED FINANCIAL STATEMENTS
31 MARCH 2025
RITSONS
Chartered accountants
26-30 Marine Pla
Buckle
Moray
AB56 1 UT

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
Page
Trustees, annual report (incorporating the directorfs report)
Independent examinerfs report to the trustees
Statement of financial activities (including income and
expenditure account)
Slatement of financial posrtion
Notes to the financial statements

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT
YEAR ENDED 31 MARCH 2025
The Iruslees, who are also the directors for the purposes of company law, present their report and the
unaudited financial statements of the charity for the year ended 31 March 2025.
R•fer•nc• and •dmlni#trative d•tails
Rogl8tor•d charlty name
Moray Texts'le Project
Charlty rnglstratlon numb•r
SC036343
Company r•glstratlon number SC281265
Prlnclpal offlco and r•glst•r•d 147 Mid Street
offlc•
Keith
AB55 58J
Tho tr￿te&S
Linda Gom Ichair person)
Nicole Logan
Geraldine McKillop
Lonmer Gray
Colleen McKenzie
Bnan Gom {Treasurer)
Ind•pendent •x•mln•r
D J Anderson.C A
26-30 Marine Place
Buckle
Moray
A856 1UT
Structur•. gov•rnance and manag•m•nt
Governlng document
The charity is a company limited by gvarantee and became a chanty on 29 April 2009. The company
was consliluled under a Memorandum and Artbcles ol Association on 9 March 2005.
Oryanlsational Struetur•
The management of the company is the Trspon$ibilrty of the 01￿Ctt)rS (Trustees) who are elected and
Co-opted under the terrns of Memorandum and Articles of Assoeialion. New directors aro briefed on
their responsibilrties arbd runnirbg of the charity by the existing directors.
None of the directors have any beneficial interest in the company All the diwtors are members of the
company and guarantee to contribute £1 in the event of a winding up
The directofs have assessed the major risks to which the charity B exp)sed and are satisfied that
systems are in place to miligale exwsure lo the major n5ks.

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
{¢onllnu•d)
YEAR ENDED 31 MARCH 2025
Oblectlvos and actlvlllo•
The company continues lo promte the Tradrtional KiArnaking course which all¢)ws the students to
broaden their kn¢)wledge in the age-old tradition of hand-sewn kills and includes an in4eplh history of
the origins of the kilt and how the tsrtan and the clans evolved. Other course5 on offer Inelude
general $ewing skill and the repair of labric clothing More recently. these have included 'Teddy Bear
courses and other drop-in courses which provide the conlribulion lo the social enlerpfise commitment
in the formation of the charity. This also prO￿￿teS and extends the sharing of the traditional skills and
leehniques across the generations. encouraging new concepts and thus ensuring a continued future.
Students are encouraged to utilise family and fn'ends as 'Pra￿l¢e. customers for the making of kilts
though the activities in the course.
A¢hl•v•m•nts and perfomiaTrc•
In commn with many other businesses in Keith. the Moray Textile Project has. over the last tsvo
years, seen a dislincl reduction in cuslorn. This ¢an be attributed bolh lo on-line shopping and the
preparedness ol potential customers to travel through lo Inverness or Aberdeen where more extensive
shopping is available There is no reduction apparent In the Interest expressed by the public for
Kill.making bul there is a recognised increase in competition ftom Independent kill-makgrs seeking lo
augment their own kill manufacturing To address this, the board eleeled lo aller the direction ol the
retail support to offer children's clothing. This range of producls has not proven to be profitsble and
has not developed the intended customer base The significant investment that was made has been
reviewed and Il is intended lo realise what revenue as can be recovered within the next year and
¢Jiversify into Kilt and Tartan related ath'cles
No charitable funds will be employed in these
inveStr￿n1$.
The charity ¢on$lrained the Courses provided to a specific range of 2-3 day options and this allows for
greater attendance bul on a reduced weekly application. Active Directors continue lo ¢ommit
unpaid time to maintain the operalton and as a resull the Charity closed the year in a reduced bul still
finan¢Blly $Kure position.
Fln*nclal r•vl•w
As noted on page 5 the chanty had a nel surplus £2.05312024'. £2,247).
The directors consider that the level of reserves held will ensure that, in the event ol a Significant drop
in funding. they will be able lo eonlinue wrth the charity's activit￿5 ftir any further tsvelve months. The
current directors, however. acknowledge their obligations lo monitor and update the business plan as
required al any poinl.
Small comp•ny provl8lon#
This report has been p￿Pared in accordance with the provisions appluble to companies entitled to
the small companies exemption.

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT {INCORPORATING THE DIRECTOR'S REPORT)
(contlnuedj
YEAR ENDED 31 MARCH 2025
The Iru81e¥s' annual report was approved on
Iru$tees by".
I¥Dec.
and sgned on behalf ol tho board of
Linda Gorn Ichoif pefsonl
I'rustoe

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MORAY
TEXTILE PROJECT
YEAR ENDED 31 MARCH 2025
I report on the financial statements for the year ended 31 March 2025. which comprise the statement
of financial activities lincluding income and expenditure xcountl. statement of financial position and
the ￿lated notes.
Rospectiv8 r8sponsibililies of truslees and oxamlner
The charity's trustees {who are also the directors of the company for the purposes of company lawl
are responsible for the preparalion of the accounts in accordance with the temis of the Charities and
Trustee Investment (Scotlandl Act 2005 and the Charities Accounts Iscollandl Regulations 2006. The
charity Iruslees consider that the audit requirement of Regulation 1011 Ila) to Icl of the 2006 Accounts
Regulations does not apply. It Is my responsibility lo examine the accounts as required under section
4411 Ilcl of the Act and lo state whether part￿￿lar rnatters have come to my attention.
Basls of Independent examlnefs rei)ort
My examination is carried out in accordance wrth Regulation 11 of the 2006 Accounls Regulations. An
examination includes a review of the accounting records kept by the charity and a comparison of the
accounts presented with those records. 11 also includes consideration of any unusual items or
disclosures in the aecounls. and seeks explanations from the trustees concerning any such matters.
The procedures undertaken do not provKle all the evidence that would be required in an audit and
consequently I do not express 8n audit opinion on the view given by the accounts.
Independenl examlnerfs statsment
In COnn￿lI0n with my examination. no matter has come lo my attention".
{11 which gives me reasonable cause to believe that in any malenal respect the requirements".
to keep accounting records in accordance wth section 4411)lal of the 2005 Act and
Regulation 4 of the 20{￿ Accounts Regulations. and
to prepare accounts which accord wrth the accounting records and comply with Regulation
8 of the 2006 Accounts Regulations
have not teen met, or
121 lo which. in my opinion. attention should be drawn in order lo enable a proper understanding of the
accounts to be reached.
D J Anderson,C.A.
Independent Examiner
26-30 Marine Place
Buckle
Moray
AB56 1UT
2L Dic 2oLf

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2025
2025
Un￿stricted
funds Total fundy
2024
Total funds
Income and endowments
Donations and leg8cies
Charitable acb"vities
Investment income
10,500
20,553
122
10.500
20.553
122
39.806
167
Totsl Income
31,175
31.175
39.973
Expenditure
Expenditure on raising fund5".
Costs of raising donations and legxies
Expenditure on Charitab￿ activib.es
Total expenditure
26,609
2.513
26.609
2,513
29.122
33.555
4,171
29,122
37.726
Net Income and nel movement in lunds
2,053
2,053
2,247
Roconciliation of funds
Totsl funds brought forward
Total funds carriod forward
31.339
31,339
29.092
33,392
33.392
31.339
The statement of financial acb'vities includes all gains and losses recognised in the year.
All income and expenditure derNe from continuing ath"vibes.
Th• notrs on page$ 7 to 12 fom) p•rt of t1￿ financoal statsments.

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 MARCH 2025
2025
2024
FIXED ASSETS
Tangible fixed a5sels
14
1,709
2,018
CURRENT ASSETS
SloLks
Cash al bank In hand
18,930
13.453
18.41y)
11.623
32,383
30,023
CREDITORS.. amounts falling due within on• year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
16
700
700
31,683
33.392
29,323
31.339
33.392
31,339
FUNDS OF THE CHARITY
Unrèstricted IL¢nds
33,392
33,392
31.339
Total charlty funds
17
31.339
For the year ending 31 March 2025 the Gharity was entrtled to exemption fl￿ audit under section 477
of the Companies Act 2(X6 relating lo sm811 CoMpan￿s.
Directors. resty)nsibilities"
The members have not required the Gomparby to obtain an audit of ils financial statements for the
y&ar in quostion in accordanee with section 476."
The directors acknowledge Ih8ir responsibilities lor ¢omplyi*g with the requirements ol the Act
with respect lo accounting records and the preparation of financial statements.
These financial statements have been prepared In accordance wilh the provisions applicable to
companies subject to the small compan*s' regime
These financial siatements were approved by board of trvstees aTKJ authorised for issue on
i.f.".k....i.trISand are s￿ned on behall of Ihe board by."
Linda G￿n (Chair person)
Trustee
The notss on page5 7 to 12 form p•rt ol th•se financial statements.

MORAY TEXTILE PROJECT
COMPANY LIMITED 8Y GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
General Inlomiation
The charity is a Publ￿ benefit entity and a PTwale company limited by guarantee, registered in
Scotland and a registered charity in Seotl8nd. The address of the registered office is 147 Mid
Street, Keith, AB55 58J.
Statement of compllance
These financial statements 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 charrt￿5 prepanng their accounts In accordance with the
Finaneial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities
SORP IFRS 10211 and the Companies Acl 2006
Accountlng pollcies
Basls of preparatlon
The financial ststements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilit￿ and investrnent properties measured at fair
value through inco￿￿ or expenditure.
The financial statements are prepared in sterling, which is the fvn¢tional currency of the entity.
Golng concern
There are no material uncertaintses about the charity's atylity to continue.
Fund accounting
Unrestricted fund$ are available for use at the diSCret￿n of the truslees to further any ol the
charity's purFX)ses.
Designated funds are unrestricted funds ea￿arked by the trustees for parb"cular fvture project or
commitment.
Restricted funds are subjeeled lo restrictions on their expenditure declared by the donor or
through the tem)s of an appeal. and fall inlo one of SU￿ClaSses. restn.cted income funds or
endowment funds.

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS fryi¢Tnuwd)
YEAR ENDED 31 MARCH 2025
Accounting policies fcontlnuodj
Incoming resouvc•s
All incoming resources are included in the statement of financial aclNitses when entitlement has
passed to the charity, it is probable that the economic beneffts associated with the tr8ns8etion
will flow to the charity and the amount can te reliably measured. The following specific policies
are applied to particular categories of Income".
income from donations or grants is recognised when there is e¥￿enCe of entitlement to the
grf(, receipt is probable and ts amount can be measured reliabty.
legacy income is recognised when receipt is probable and ent￿ernent is established.
income from donated goods is measured at the fair value of the good$ unle55 this 1$
impractieal to measure reliably. in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilib.es and services are recognised in the
accounts when received if the value can be reliably ff￿asured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is reccgnised with the delivery of the
contracted seNice. This is classtfied as unrestn.cted funds unless there Is a conlraelual
requirement for it to be spent on a Pa￿.¢￿lar purpose and retumed if unspent. in which case
il may be regarded as restn'cted.
Resou￿¢3 expended
Expenditure Is recognised on an accruals basis as a liability Is incurred. Expenditure includes any
VAT which cannol be fully recovered, and is classified under headings of the statement of
financial activitses tr) whKh il relates..
expenditure on raising funds includes the costs of all fundraising activities, events.
non-charitable trading actsvit￿s, and the sale of donated gocxls.
expenditure on chantable activities includes all costs incurred by a charity in undertakt'ng
activities that further rts chantable aims for the benefit of ils beneficiaries. including those
support eosts and costs relating to the govemanee of the charity apportioned lo charitable
activities.
other expenditure includes all expenditure that is neither related to raising fvnds for the
charity nor part of its eX￿ndItUre on charitable activities.
All costs are allocated lo expendrture categories reflecb.ng the use of the resource. Direct costs
attributsble to a single activity are allocated direclty to that acltvity. Shared costs are apportioned
be*￿een the actsvities they contribute to on a reasonable. justifiable and consistent basis.
Tangible assets
Tangible assets are inib.ally recorded al cosL and subsequently stated at cost less any
accumulated depreciatson and impairment losses. Any tangible assets carried al revalued
arnounls are recorded al the fair value al the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impaimEnt losses.

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (Caftllnuedj
YEAR ENDED 31 MARCH 2025
Accountlng pollclos (conllnu•dJ
Tanglbl• a$$gts
An increase in the carrying amount of an asset as a result of a revaluabon, is recognised in other
recc>Jnised gains and losses, Un￿$$ it reverses a charge for impairnRnl that has previously been
reeognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of fevalualion. is fecognised in other recognised gains and losses,
except lo wh￿h il offsets any previous revaluation gain. in which ease the loss Is shown within
other recognised gains and losses on the statement of financial a￿1Ville$.
D•pro¢latlon
DeP￿latIon is calcuL*ed so as lo wnte off the cost or valuation of an asset, less ils residual
value. over the useful e¢onomi¢ life of Ihat a$$el a$ follows..
Plant and machinery
Flxture$ and fitting$
15% reducing balance
20% reducing balance
Stock•
st￿ks a￿ measured al the lower of cosl and eslimated selling price less costs lo complete and
sell. Cost includes all costs of purchase. costs of Convers￿n and olher costs incurred in bringing
the stock to ils present location and condition
Llmlt•d by gu*r•nt••
The company is limited ty guarantee and does not have share capitsl.
Every member of ltte company undertakes lo contribute such amunl as may be required. not
exceeding £1. to the assets of the charitable company in the event of it being wound up while he
or she is a member, or within one year after he or she ceases to be a member.
Oonatlon• and l•90¢1•8
Unrestncted Total Fund# Unreslricled Total Funds
Funds
202S
Funds
2024
DONATIONS
Donations
10.5
10.500
Ch•rltable actlvttle8
un￿trICted Total Fund• Unrestricted Total Funds
Funds
2025
Funds
2024
Shop
Courses
7,188
13,365
7.188
13.365
13.354
26,452
13,354
26,452
20.5S3
20.553
39,806
39,8¢

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (¢Mllnu•d)
YEAR ENDED 31 MARCH 2025
Inv•8tmont Incom?
UnreStr￿ted Tot•1 Funds Unrestricted Total Funds
Funds
2025
Fund$
2024
Bank interest receivable
122
122
167
167
Cos1• of rnl•Sng donallon• and l•gacl••
un￿StriCted Total Fund8 Unrestn'cted Total Fund8
Funds
2025
Funds
2024
Costs of generating funds
26.609
26.609
33,555
33,555
Exp•ndltur• on charltabl• actlvltles by actlvlty typo
Support Total fund•
osts
2025
Totsl fund
2024
Governance cos18
2,513
2.S13
4,171
10. Not Incom•
Nel income is stsled after ¢hargingl1c￿dItIftg}'.
2026
2024
Depre¢iabon ol tangible fixed assets
307
364
11. Ind•p•nd•nt •xamln•tlon fM•
2025
2024
Fees payab￿ to the independent examiner for..
Independent examinatson of the financial statements
74S
701
12. Staff cMts
The total staff costs and employee benefits for the reports.ng p8riod are analysed as follows..
2025
2024
Wages and salaries
6,760
5,730
Thè average head count of empknyees dunng the year was Nil12024.' Nill.
No employee received ernpbyee benefits of mre than £60,000 during the year12024". Nill.
13. Tru8t•• rnmun•Alion and 0x￿nI•s
No remuneration or other benefits from empfoyment wrth the charity or a ￿lated entity were
received by the trustees.
10

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS iconUnu•d)
YEAR ENDED 31 MARCH 2025
14. Tangiblo fix•d assets
Plant and Fixlures and
mxhinery
ffttings
Total
Cost
At 1 April 2024 and 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
22.550
3,901
26,451
20.636
287
3.799
20
24,435
307
20.923
3.819
24,742
Carrying arnount
At 31 March 2025
1,627
1,709
Al 31 March 2024
1.914
102
2,016
15. Stocks
2025
2024
Raw materials and consumables
18.930
18.400
16. Crodltorg: amounts falllng due wlthln one year
2025
2024
Accruals and deferred income
700
700
17. Anatysis of charitable funds
Unrestrictod funds
At
31 March 20
25
1 April 2024
Income Expenditure
General fvnd$
31,339
31.175
(29,1221
33,392
At
31 March 20
24
At
1 Aw'l 2023
Income Expendrtu
General fvnds
29,092
39,973
137,7261
31.339
11

MORAY TEXTILE PROJECT
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (¢tyifrnu¢rfJ
YEAR ENDED 31 MARCH 2025
18. Analysis of net a850ts belweon funds
Unrestricted Total Funds
Funds
2025
Tangible fixed assets
Currenl assets
Creditors less than 1 year
Ngt assets
1,709
32,383
{700}
33.392
1.709
32.383
1700)
33,392
Unrestricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Not assets
2.016
30,023
17001
2,016
30,023
17001
31,339
31.339
12