Company registration number SC272756 (Scotland) Charity registration number SC036807 (Scotland) STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 | ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## LEGAL AND ADMINISTRATIVE INFORMATION Trustees D J Read | D Hunt M Bessell D Lumsden C Chambers J Colyer D T Haldane (Appointed 7 February 2025) M Meiklejohn (Appointed 7 February 2025) Charity number (Scotland) SC036807 Company number $C272756 Registered office Farr Community Hall Inverarnie Park Inverarnie Inverness-shire IV2 6AX Independent examiner Rhona Wilson BA, FCCA MacKenzie Kerr Limited Chartered Accountants Redwood 19 Culduthel Road Inverness IV2 4AA Bankers Virgin Money 40 St Vincent Place Glasgow G1 2HL Investment advisors Rowan Dartington & Co Ltd Melville House 18-22 Melville Street Edinburgh EH3 7NS ## ee ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## CONTENTS OF THE FINANCIAL STATEMENTS Page Trustees’ report 1-2 : Independent examiner's report 3 Statement of financial activities 4-5 Balance sheet 6 Notes to the financial statements 7-17 Ee ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025 The trustees present their annual report and financial statements for the year ended 31 August 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 Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)" (effective 1 January 2019). ## Objectives and activities The charity was set up by the Strathnairn Community Council to administer on its behalf the community funds emanating from the Farr Windfarm. In addition, the charity now manages funds emanating from Dunmaglass Windfarm, Moy Windfarm, Glen Kyllachy Windfarm, and the Farr Hydro Scheme. In order to achieve this task the charity solicits and receives applications for funding from local residents and groups. It also invests monies not needed immediately for grants in investment funds and bank deposits which give maximum safety and flexibility. The principal activity of the charity is the promotion of urban or rural regeneration in areas of social and economic deprivation in the Strathnairn Community Council area through award of grants to individuals and groups within this area. The charity makes such grants as are allowed by the Agreements with Developers and by the Memorandum of Association as approved by the Office of the Scottish Charity Regulator. ## Achievements and performance The grants awarded this year by the charity have been categorised under the headings of General Grants, Education Grants, Renewable Grants, Energy Efficiency Grants, Hardship Grant and Home Heating Grants. Grants and donations awarded during the year amounted to £644,934 (2024 - £145,976), with attributable support costs of £17,436 (2024 - £15,680) and governance costs of £1,800 (2024 - £1,680). ## Financial review At the end of the financial year, the charitable company had general unrestricted funds of £437,212 (2024 - £893,599), having recorded deficit for the year of £456,387 (2024 - £276,918 surplus). Designated funds at the year end total £643,664 (2024 - £573,578), which includes a revaluation reserve of £166,908 (2024 - £26,734). Restricted funds at the year end total £189,471. ## Reserves policy Included in unrestricted funds is the General Fund which represents the unrestricted funds arising from past operating results. Also included in unrestricted reserves are details of the latest income received from each of the windfarms and the grants made from that income to date. These funds also represent the free reserves of the charity. The charity aims to retain a percentage of its income to build up reserve levels to allow for future strategic investments. This policy will be subject to regular review. ## Principal funding sources The principal funding sources are Developer Contributions paid by the Developers of the Farr, Moy, Dunmaglass, and Glen Kyllachy windfarms and Farr Hydro scheme. These contributions are designed to support local residents, projects and events within the Strathnairn Community Council area. ## Investment policy and objectives The charity adopted a policy of investing its available capital in a selection of unit trusts, bonds, equities and managed funds. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ee -1- ' ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED | report on the financial statements of the charity for the year ended 31 August 2025, which are set out on pages 4 to 17. ## Respective responsibilities of trustees and examiner The charity trustees (who are also the directors of Strathnairn Community Benefit Fund Limited 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 | 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 1. which gives me reasonable cause to believe that in any material respect the requirements: - » 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 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. ## Rhona Wilson BA, FCCA MacKenzie Kerr Limited Chartered Accountants Redwood 19 Culduthel Road Inverness IV2 4AA Date: 17 March 2026 ## eee -3- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT ## FOR THE YEAR ENDED 31 AUGUST 2025 |Currentfinancial year||Unrestricted|Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| |||funds|funds|funds||| |||general|designated|||| ||||funds|||| |||2025|2025|2025|2025|2024| ||Notes|£|£|£|£|£| |Income from:||||||| |Windfarm annual payments|2|-|327,932|92,280|420,212|407,118| |Investments|3|39,508|-|-|39,508|38,732| |Total income||39,508|327,932|92,280|459,720|445,850| |Expenditure on:||||||| |Investment management fees|4|16,599|-|-|16,599|8,309| |Charitable activities|5|396,958|229,552|37,660|664,170|163,336| |Total expenditure||413,557|229,552|37,660|680,769|171,645| |Net gains/(losses) on||||||| |investments|9|24,219|-|-|24,219|63,545| |Net income/(expenditure)||(349,830)|98,380|54,620|(196,830)|337,750| |Transfers between funds||(106,557)|(28,294)|134,851|-|-| |Netmovement infunds||(456,387)|70,086|189,471|(196,830)|337,750| |Reconciliation of funds:||||||| |Fund balances at
1 September 2024||893,599|573,578|-|1,467,177|1,129,427| |Fundbalancesat31August2025||437,212|643,664|189,471|1,270,347|1,467,177| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. See -4- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT ## FOR THE YEAR ENDED 31 AUGUST 2025 |Prior financial year||Unrestricted|Unrestricted|Total| |---|---|---|---|---| |||funds|funds|| |||general|designated|| ||||funds|| |||2024|2024|2024| ||Notes|£|£|£| |Income from:||||| |Windfarm annual payments|2|-|407,118|407,118| |Investments|3|38,732|-|38,732| |Total income||38,732|407,118|445,850| |Expenditure on:||||| |Investment management fees|4|8,309|-|8,309| |Charitable activities|5|1,147|162,189|163,336| |Total expenditure||9,456|162,189|171,645| |Net gains/(losses) on investments|9|63,545|-|63,545| |Net income||92,821|244,929|337,750| |Transfers between funds||184,097|(184,097)|-| |Netmovement in funds||276,918|60,832|337,750| |Reconciliation of funds:||||| |Fund balances at
1 September 2023||616,681|512,746|1,129,427| |Fundbalancesat31August2024||893,599|573,578|1,467,177| eee -5- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 - 1 Accounting policies ## Charity information Strathnairn Community Benefit Fund Limited is a private company limited by guarantee incorporated in Scotland. The registered office is Farr Community Hall, Inverarnie Park, Inverarnie, Inverness-shire, IV2 6AX. 1.1. Basis of preparation The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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) (effective 1 January 2019)". 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 applying FRS 102 Update Bulletin 1 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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the balance sheet date, current liabilities exceed current assets by £189,965. This relates to a grant approved to Farr Community Hall, which will become payable as the work being carried out to the hall progresses. 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. Income from investments is included in the SOFA in the period in which it is received. ## SSeS -7- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 - 1 Accounting policies (Continued) - 1.5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## Raising funds The cost of generating funds are those costs attributable to generating incoming resources for the charity, other than those costs incurred in undertaking charitable activities. ## Governance costs Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity. ## Allocation an apportionment of costs Support costs have been apportioned to charitable activities on the basis of the percentage of the activity to the total charitable activity. 1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. **----- Start of picture text -----**
1.7 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.
**----- End of picture text -----**
## 1.8 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. ## SSS -8- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 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. ## 1.9 Taxation The charity is exempt from corporation tax on its charitable activities. - 2 Income from windfarm annual payments ||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| ||funds|funds||funds|funds|| ||designated|||designated||| ||funds|||funds||| ||2025|2025|2025|2024|2024|2024| ||£|£|£|£|£|£| |Donations and gifts|327,932|92,280|420,212|407,118|-|407,118| |Donations and gifts||||||| |FarrWindfarm (Ventient)|136,536|-|136,536|132,027|-|132,027| |Dunmaglass Windfarm||||||| |(SSE)|94,098|-|94,098|90,886|-|90,886| |Farr Hydro (FLS)|3,833|-|3,833|3,725|-|3,725| |Moy Windfarm (ENECO)|93,465|-|93,465|91,009|-|91,009| |Glen Kyllachy Windfarm|-|92,280|92,280|89,471|-|89,471| ||327,932|92,280|420,212|407,118|-|407,118| ## eee -9- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ## 3 Income from investments |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2025|2024| |||£|£| |Income|from listed investments|33,513|31,583| |Interest|receivable|5,995|7,149| |||39,508|38,732| ## 4 Expenditure on investment management fees ## Investment management fees |Unrestricted|Unrestricted| |---|---| |funds|funds| |2025|2024| |£|£| |16,599|8,309| SSeS -10- ||||£sg
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35| ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ## 6 Support costs allocated to activities |Support costs allocated to activities||| |---|---|---| ||2025|2024| ||£|£| |Secretariat services|14,376|12,656| |Insurance|1,057|976| |Postage, stationery, advertising and printing|1,870|1,918| |Bank charges|133|130| |Governance costs|1,800|1,680| ||19,236|17,360| |Analysed between:||| |General grants|17,876|11,345| |Education grants|940|3,366| |Renewable grants|74|746| |Energy efficiency grants|41|357| |Hardship grants|26|77| |Home heating grants|279|1,469| ||19,236|17,360| ||2025|2024| |Governance costs comprise:|£|£| |Independent examination|1,800|1,680| ||1,800|1,680| ## 7 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## 8 Employees 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 No remuneration was paid to key management personnel. eee -13- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ## 9 Gains and losses on investments ||Unrestricted|Unrestricted| |---|---|---| ||funds|funds| ||2025|2024| |Gains/(losses) arising on:|£|£| |Revaluation ofinvestments|23,601|56,201| |Sale ofinvestments|618|7,344| ||24,219|63,545| ## 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## 11. ‘Fixed asset investments |||Listed|Cash in|Total| |---|---|---|---|---| |||investments|portfolio|| |||£|£|£| ||Cost or valuation|||| ||At
1 September 2024|1,183,599|33,553|1,217,152| ||Additions|330,279|395,503|725,782| ||Valuation changes|23,601|-|23,601| ||Disposals|(159,985)|(346,238)|(506,223)| ||At 31 August 2025|1,377,494|82,818|1,460,312| ||Carrying amount|||| ||At 31 August 2025|1,377,494|82,818|1,460,312| ||At 31 August2024|1,183,599|33,553|1,217,152| |12|Debtors|||| ||||2025|2024| ||Amounts falling due within one year:||£|£| ||Prepayments and accrued income||1,200|815| |13|Creditors: amounts falling due within one year|||| ||||2025|2024| ||||£|£| ||Sundry creditors||1,239|1,168| ||Accruals and deferred income||326,991|8,060| ||||328,230|9,228| SSS -14- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 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 1|Incoming|Resources|Transfers|At|31 August| |---|---|---|---|---|---|---|---|---| ||||September|resources|expended|||2025| ||||2024|||||| ||||£|£|£|£||£| |.||||||||| |Glen|Kyllachy|Windfarm|-|92,280|(37,660)|134,851||189,471| ## Purpose of funds Glen Kyllachy Windfarm Income attributed to this windfarm. For use of charitable, educational, environmental and/or community purposes for the benefit of residents of the area of benefit in accordance with the funds charitable principals. ## 15 Unrestricted funds - designated funds These are unrestricted funds which are material to the charity's activities. ||At 1|Incoming|Resources|Transfers At 31 August|Transfers At 31 August| |---|---|---|---|---|---| ||September|resources|expended||2025| ||2024||||| ||£|£|£|£|£| |Revaluation reserve|26,734|-|-|140,174|166,908| |Dunmaglass Windfarm (SSE)|61,980|94,098|(92,637)|(7,528)|55,913| |FarrWindfarm (Ventient)|190,121|136,536|(19,728)|(10,923)|296,006| |MoyWindfarm (ENECO)|136,938|93,465|(117,187)|(7,477)|105,739| |FarrHydro (FLS)|15,572|3,833|-|(307)|19,098| |Glen Kyllachy Windfarm|142,233|-|-|(142,233)|-| ||573,578|327,932|(229,552)|(28,294)|643,664| |Previous year:|At1|Incoming|Resources|Transfers At|31 August| ||September|resources|expended||2024| ||2023||||| ||£|£|£|£|£| |Revaluation reserve|178,262|-|-|(151,528)|26,734| |DunmaglassWindfarm (SSE)|46,982|90,886|(68,617)|(7,271)|61,980| |FarrWindfarm (Ventient)|100,852|132,027|(32,197)|(10,561)|190,121| |MoyWindfarm (ENECO)|111,882|91,009|(58,672)|(7,281)|136,938| |Farr Hydro (FLS)|12,145|3,725|-|(298)|15,572| |Glen Kyllachy Windfarm|62,623|89,471|(2,703)|(7,158)|142,233| ||512,746|407,118|(162,189)|(184,097)|573,578| ## eee -15- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ## 15 Unrestricted funds - designated funds (Continued) ## Purpose of funds ## Dunmaglass Windfarm (SSE) Income attributed to this windfarm. For use of community groups and not-for-profit entities, including individuals who operate in the area of benefit. Used to support local environmental, educational, sporting, amenity or other appropriate initiatives which are consistent with the principals of environmental projects, community based projects, charitable trusts, clubs or societies. ## Farr Windfarm (Ventient) Income attributed to this windfarm. For use of community groups and not-for-profit entities, including individuals who operate in the area of benefit. Used to support local environmental, educational, energy efficiency measures, tourism or recreational activities and charitable activities, providing all sums expended are for the benefit of the local area. ## Moy Windfarm (ENECO) Income attributed to this windfarm. For use of community groups or projects which have a future long term benefit for the community. To include individuals who operate in the area of benefit for the purposes of educational, energy efficiency, or renewable energy measures. ## Farr Hydro (FLS) Income attributed to this Hydro scheme. For use of community groups and not-for-profit entities who operate in the area of benefit. Used to support local environmental, energy, educational or other appropriate initiatives which are consistent with the principals of environmental projects, community based projects, charitable trusts, clubs or societies. ## Revaluation reserve The revaluation reserve reflects the increase in the market value of investments held at the balance sheet date over their original cost. ## 16 Unrestricted funds - general 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. ||At1
September|Incoming
resources|Resources
expended|Transfers|Gains and At 31 August
losses
2025|Gains and At 31 August
losses
2025| |---|---|---|---|---|---|---| ||2024|||||| ||£|£|£|£|£|£| |General funds|893,599|39,508|(413,557)|(106,557)|24,219|437,212| |Previous year:|At1
September|Incoming
resources|Resources
expended|Transfers|Gains and At 31 August
losses
2024|| ||2023|||||| ||£|£|£|£|£|£| |Generalfunds|616,681|38,732|(9,456)|184,097|63,545|893,599| ## Purpose of funds General fund Unrestricted funds to meet the financial objectives of the trust as set out in the report of the trustees. ## eee -16- ## STRATHNAIRN COMMUNITY BENEFIT FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ## 16 Unrestricted funds - general funds (Continued) ## Transfer of funds A transfer of fund of £142,233 was made between designated funds and restricted funds to show Glen Kyllachy as a restricted fund as per the Community Fund Agreement. Atransfer of funds of £140,174 (2024 - £151,528 decrease) has been made between the general fund and the revaluation reserve to reflect the amount by which the fair value of the investments exceeds the cost of the investments held at the year end. A transfer based on 8% of income is made from the windfarm funds to the general fund as a contribution towards support costs, totalling £33,617 (2024 - £32,569). ## 17 Analysis of net assets between funds ||Unrestricted|Unrestricted|Restricted|Total| |---|---|---|---|---| ||funds|funds|funds|| ||general|designated||| |||funds||| ||2025|2025|2025|2025| ||£|£|£|£| |At 31 August 2025:||||| |Investments|684,780|618,488|157,044|1,460,312| |Current assets/(liabilities)|(247,568)|25,176|32,427|(189,965)| ||437,212|643,664|189,471|1,270,347| ||Unrestricted|Unrestricted|Restricted|Total| ||funds|funds|funds|| ||general|designated||| |||funds||| ||2024|2024|2024|2024| ||£|£|£|£| |At 31 August 2024:||||| |Investments|843,599|373,553|-|1,217,152| |Current assets/(liabilities)|50,000|200,025|-|250,025| ||893,599|573,578|-|1,467,177| ## 18 Related party transactions During the year, 2 trustees (or household members) received education grants totalling £975 (2024 - 2 totalling £1,325) and no trustee (or household member) received a home heating grant totalling ENil (2024 - £550). ## ae -17-