Charity RegistTation Number:SC037168 STRATHDEARN COMMUNITY CHARITABLE TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2025
STRATHDEARN COMMUNITY CHARITABLE CHARITABLE TRUST INDF.X 1c) I NCIAL SIATFMkN'rs lor the year ended 31 March 2U25 Page Trustees, Annual Report Independent Ex8miner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-12
STRATHDEARN COMMUNITY CHARITABLE TRUST TRUQ'I Eb-.%' ANNUAI. RVFIORI lor Ihe yeaT ended 31 Pè¢ar¢b. 202& The trustees present 11)eir reporl énd the finaiicial statenienls f Ilie. year ended 31 March 202.5 Reference and adminlstrative information Charily nolile". Strdthdearn Community Charitable Trust Scottish c.harity num ber.. SC037168 Gorrespondence ad(5rp.ss. The SlrJthclearn, Tomaliri, Inverness-shir6 IV13 7YN Trustees The Iruslees who served during the year were- Inijeperidenl exam iner l¥'iJbkciriilL KL'r.' Lip,I I:. C-L Chartered Accountaii1s 19 Culdulhel Road Inverness IV2 4AA Solicitors Muiiro & Noble 26 Cl)urLlI Slieel Iriverness IV1 1HX Bankers The Royal Bank of Scotland 29 Harbou,. Road InvernL'5S IV1 1NU Investment adviseis Fvelyri Parlrier% 148 Morrison Stieel EdinbLJrgh FH3 8E.X Breviin Dololiin ixtli Floor. A•ria OnL 144 Morrisoii Slreel 1113 6E3R Page 1
S711A1 IIDE ARN CoftrlMIJNII'Y C14R:7 ABI.E TRUSY
TRIIQI'Y:I-.S' ANNUAI. RF-PCIRT
tor the year etided 31 Maic.h 2025 IcontirilJe(ti
r4Amint¢lr?tfirrrp.>birpi
History, objectives and acllvities of the Trust
The Trust is esl8blished hy a charilable trusl deed dated 24 January 2006. This followed discussions with the
compciny oper31iiig Farr Vvindfarm, whicli wished lo provide funds for the benefit of the residenlo of the
Slralhdearn area, By a minute of 2greemenl dated 5 May 2006 Farr Windfarm l.in)iled agreed to make an initial
paymenl lo the Trust followed by ali anriu
STRATHDEARN COMMUNITY CHARITABLE TRUST TRUSTEES. ANNUAL REPORT for the year ended 31 March 2025 (continued) Financial review, InvestmÉ¥nt policy and reserve.s T he riel iiicooiing rp.sourres for Ihe. year, after grcjiils and operalional expen%es of £103,078. were, £28,671 , Ttie. Iruslee.s moved manageme,nl of IFie inveslmenl portfolio from &-velyn Partners to Brewin Dolpbiii around Febriiarylmarcli 2025 willi the same rcmil that 11)ey require incomp. and potentially some Cdpilal growtli. These investments oenerated Income of £3,815 In Ihe year and were valued al £1,fj2,684 al 31 March 2025 This represeiils a revaiu31ior) oain of £3,488 arid in Ilie. c.urren1 Inarko.I cDndilion.s the trustees feel th21 Ihe returns are adequ3le.The IrLJslees have chL)sen nol lo adopi formal elhical investment polic.ies. Al 31 March 2025, the Trusl had unreglricled general reserves of £157,777. unreslricled capital reserves ol £157,3119 and restricted general reserves of £36,731 and the truslees consider these to be appropriate The Iriislees 1i8ve powier lo use 11)e Irijsl capital as well as incoine. arid il is possible that a suilablo projecl will be idenlified 81 some time whic.h will reqiFire Ihis. Statemenl of Trustees. responsibilities Charity law requires l.le Iruslees to prepare finaricial slalements for eacli finaricial yeaf wliich sliov a ti ue and fair view of the stale of affairs ol the cl)arity and Ils iinancial aclivilies for Ihal period. Iri preparing ihuse fiiiancial stalenients, Ihe Iruslees are required to.. selecl suiiable. accoLJnting policies arid Iheri apply Ihetn (;onoislently,' make iudgenie.nls and eslimale,s Ikial are reasonable and piudenl- observe the, nieil)ods and principles in tlie C112rily SORP,. Prepare the financial slalemp.n15 on 11)e going concerii basis ur)less il is inappropriate lo presuryie that Ihe ch3rity vjill continue in operalioiidl exislenre. 'T he. Iruslpes are fespon5ible lor keeping proper d(:Lnurilirig reLords wliich disclose with reasonable accuracy al any lit71e. Ine financial position of the charity afjd l(J eriable Iliern lo ensure Ifial the financial slalemerils comply wilh Ilie Chdrilies aiid Trustee Iriveslinenl IScotlclTidl Act 200.J and Ihe ChariliL75 Acc()LJnls (Scolland) Regulations 2006. Tliey aic (Ilbo rc'sp()nsible for 8<3fegiJ<irdiiig Ilie assets of the cl)ariiy ¢trid fiencL, lor laking ieasoiiable steps for the prevention and detection of fraijd and ollip.r irregularilie%. Tllis reporl was approved by the trustees on 2f 2nd signe.d on Iheir behalf by: Chairrnan
% l frlI l Hl)EAP¢NI f )IvlMI iJPJI I I i_-.e4&,Rt'? At4L F TRLPN'I I redT L51 i on Ilie firidl !la!ciiienls ()[ il',E.' ch<ifi'iy lor yecir erided 31 N. tol2. idrcli ?li?5. wliicl) ai e v,el Odl 011 J Respective iespo115ibilities of trustees and examinei I he chdrivs Irlislec's ale responsible fni Ilip. i)reparalioi"i ol Ihe. fiv.ancial sldlempnts in acLoidai)ce with the, tL'rms o,. Ilie Ch8riliL.s and Tr(Islee Iriveslrrienl Iscnlldndl Act 2005 and tlie Charitie£ Accounts IScnlland} Regulalicns 2006 las gmende(il I lie cliarily Iruslee5 conside.r Inal 11)p. 8iJdil requirement of Reguldlion 1011) (al lo Icl of Ilie 2006 ALcounts Regulatioris does i)ol ai)ply. 11 18 rTly responsil)ilily In exan71r)e the finaiici31 slalemenls as rcqiiirL.d nder Section 44 {11 Ir,) of the Act and lo stale wlielher i)articular matters fiave conie lo niy 8llenti0n. Basis of indeperidenl examiner's st21ement My exaniinalion is carried oul iri dLcordance will"1 Regijlaliori 11 01 Ihe 2006 Accoiints Regtilations. An e,xaniinalion includes a review ol Ilie a(LJunting records kept by the ch3rily ar)d d cornparison of Ilic financial slalemenls preser)lo.d with Iliose records. 11 also Includes consideraliori of any unusual ileryis or disclosures in e financial s181emenls, and seeks explanalioiis fiorri Ihe Iruslees concernlng 3ny SLich malle.rs. The procodures undertaken do not provide 811 the evidence that would be require(J in an audit, and consequenlly I do not express an audit opinion on the view given by the fii)ancial slateinenls. Independènt examiner's statement Iri Ihe coijrse of my examif)8tion, no niciller h¢iS Gonie lo my c?Ilenlion whiLh givp.s me reasondble cause lo be,lie.ve Ihal in any malLJrial respec.t tlie reqiiireri ieiils.. lo keep acci)uritin9 record£ in accordance willi Seclioii 44 {11 (a) of tlic 2005 Act dnd Flegulatloli 4 of tlie 2006 AccoJnls RLsgiJl3tions. 2nd tu prep2re financial st3teynenls which accord willi Il)e dCC,Ol5nlirig records aiid Loiiii)ly willi Requlal.un 8 01 11)e. 2006 Accourils Regiilaliuiis have not been mel. o,. lo MiliiLli in rny opiiiiori, allL.nlion sliou'ld bc drwn in order lo eiiable Li Pioper uiidèrsl¢Jiidirig ol Ilic, finoncidl slateiTTreiJls 10 be reached. keriLlt.. YK(!--r l_ Iniil£su Cl)8rlprf.d Ac.e.oiJiilanls Redwor)li I (J f,uliliilliel Road liiveri)tJs IV2 4AA
COhRhfriUIIIIY C3IARITAI41..E T ~$ JITL:MEN I I.?1 fl IINCLIFIP(Iltll,T 5FQ(.' ,Ihl IN:C.t)IbiL ANI) XF?iNDII iJF<L.. L.'L'(ILJ f()r tlie year ended 31 Marcb. 202$ Unrestricted General Capital Restrictod Funds Funds Funds Total Funds 2025 Tolal Funds 2024 Notes INCOME AND ENDOWMENTS FROM: Donations legacies Investment Income Total 91.023 3,815 94,838 36.912 127,935 123.806 3,815 3,522 131,750 127,328 36,912 EXPENDITURE ON Cosls of raising funds Investment rnanagemenl costs 2,525 2,525 2,610 Charitable aGlivilies 65,554 35,000 100,554 118,278 Total 65,554 2,525 35,000 103,079 120.888 Net incomino reso&iices (resources expended) before inv¢8tments gainsl(lossesl 29,284 {2,525) 1,912 28,671 6,440 Nel gainslllossesl on inveslnienls 3,553 3,553 8,579 Nel moven?enl in lunds 29,284 1.028 1,912 32,224 15,019 Reconc,iliatior) of funds Total funds broiiqlil forward 128,493 156,281 34,820 319,594 304,575 Tolal lijrids Larri&d forwéid 157,777 157,309 36,732 351,818 319,594 Page 5
STRATHDEARN COMMUNITY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2025 PTIOI. fiijancial year Unreslricted General Capital Restricled Funds Funds Funds lotal Funds 20£4 Tolal Funds 2023 INCOME AND ENDOWMENTS FROM.. Donations and legacie8 Investmerit income Total 88,018 3,522 91,540 35.788 123,806 3,522 127,328 117,018 3,127 120,145 35.788 EXPENDITURE ON Costs of raising funds Inveslmenl management costs 2,610 2,610 2,609 Charilable activities 83.278 35,000 118,278 118,998 Tot81 83,278 2,610 35,000 120,888 121,607 Nel inf'oming resouice5 {resources expended) before investrnEn¥S gainsl{losses) 8.262 {2,610} 788 6,440 {1,462) Net gainslllossesl on inveslmenls 8,579 8,579 (5,3841 Net inovement in funds 8.262 5,969 15.019 16,846) Reconciliation of funds Total fLJnds brought forward 120.231 150.312 34,032 304,575 311,421 Total funds Cdrried forwdrd 1211,493 156,281 34,820 319.5a4 304,575 Page 6
STRATHDEARN COMMUNITY CHARITABLE TRUST BALANCE SHEET for the year en(led 31 March 2025 2025 2024 Notes Flxed Assets Inveslmenls 152,684 152.684 151.145 151.145 Current Assets Debtors Cash al bank and in hand 37.174 167.404 204,578 241 171.801 172,042 Creditors: arnounts falling dué within one year Nel Currgnt Assels Net Assels 10 3,593 199.134 351,818 1{iy,44U Represented by.. Unrc'51tic,led Fiinds 157,777 157,309 36.732 128,4Ql'4 Restricted Funds Toldl FiJnLJ.'. 351,818 '41Q,5(14 The financial statements on pages 5 10 12 were approved by the trustees on and signed on their behalf by-. Cl)airman Page 7
E7RATF4 LARN ccJf¥QPlIUNI-IY CPIAKII'ANI. r IRIJ,%I' NOTL: L T(:1 Iiir- FINt.ANC.I I SIATtVIF.NTg for the yeo¥ ei)tied 31 KQai6h 202 Statutory informatioii Slrathdearn Com munily Chdrilable Trust is a Charitable. T rust Consliluted by Trust Deed on 24 January 2006. The regislerp(J charity number and ('.oirespondence address Gari be found in the I iuklees, Report. Accounting policies 2.1 Accounting convÉntion The financial statements of tlie charity, which is a public benefit entity under FRS 102: have been prepared under the liistorical cost convention with the exception of investments. which are valued al market value. The slalements are in accordance with applicable accounting standards, the Charities ar)d J ruslee Investment (Scollandl Act 2005, the Charities Accounts (Scotlandl Regulations 2006, ar)d the Charities SORP IFRS102) "Accounting and Reporting by Charities. Slalement of Recomniended Practice applicable to charities prepaiing their accoiints in accordance with the Financial Reporting Standard 102 leffeclive 1 January 2019)" l-he financial statements are prepared in sterling, which is the funGlional currency of Ihe charity. Monetary amounts in these fin3nci21 statements are rounded to the nearest £. 2.2 Income Investment and volui)lary income is recorded when receivable and is Lhnreslricled in nalure provided il advarices Ilie objeclioes of the charity. 2.3 Grants E.xi)endilure on gran18 j< recorded oncf! the Trust has made ali LJnc.oiidilional Lommilnienl lo pay the granl aiid Iliis has been cominunicaled lo Itie beneficiary, or ttie grant has been Paid, whicl)ever is the e¢irlier. 2.4 Expenditure Other expp.ndilure is included in the accounts on an accruals b8sis, inclusive of VAI", arid allocated to Ilie ar)propriate cost heading. 2.5 Investnients Qiioled Inveslnients l)ave been valued al rriarkel value 81 Ilie bal?nce sheei dale Recilisp(l and ijnrealiqed iriveslmenl gains anid losse% ¢ire sl iown net in Ihe Stdterner41 of linancial Acliviiies. 2.6 Funds Capital Tlie Trust Deed allows the initial capital payrv)enl lo be spenl ds income or retained ab capital al Ilie Iruslees, discretion T he income arising is Linreslric.led. Gei)eral '[ his rel8le.s lo unreslriLled fuiids to be ijsed for general purposes. Reslricled funds represents monies received lo provide a range of 18rge.led activities. Taxatto I"he I iusl 18 a Scottish charily arid accordii)gly Is exempl froin laxalion oi'l it< jriLoiiie and ciny gairis viliere tliey 3re applio.d for charitable Plirposes.
RNI I;(JMI+.LINII Y FIIiR.IYA 1:: 4rsy T O I P tl_. F IfofrÈlQ(.lfv.l. -[ ,'[ y_- 101 F..: hll- foi. thc yc-¢r eiideu Mèesr¢PI 2025 {r•nti;'TriieL4.1 Donations and legècies 2025 Restricted 2024 Unrestricted l otal Anriual winiltarm payinent CGmmi ilnlty Benefit Skiore 91,023 88,018 35.788 123,806 36,912 36,912 36,912 127,935 91,023 Investment income has arisen as follows: 2025 2024 Dividends from listed Inveslmenls Interest on cash deposits 3.815 3,522 3,815 3,522 Charitable activities The Iiusl made grants to twenty nine organisalions, schenies and individuals durin9 the year. T he majoi ones were as follDWS'. Stralhdearri Communily Developmer)Is Community Council - grass culling, ¢noMi clearing W3r memorial fencing .£lrall)dedrn Priinary School Voucliers for F)ei)sioner 14elping Hand fund - seven individiials Community Advisory Group Various children's activities Community Newsletter Pensioners Xmas ILinch Soundbalhs OllTrer gran1.8 Granl r(Jfur?ds TDlal grtinls SuptAO,- co81;. 35,000 10,658 9,000 8,450 5,526 3,509 3,187 2,577 2,506 2,531 89,398 6,744 96.142 4,412 100,554 Goveriiance c.osts Support aid Governance co¢ts buppnrl c.osts, consioliiig of the 2drriinislralion cosls of the. cliarily, are splil belweeri charil¢iblL' cobls aiid oove.rnancLJ on Ili£.' estimaled IIiTie spent ori each activity as sliown In the lal)le bp.IDEv. Basib ol Chariltsble GOVenan{£ To181 l ot81 appor.ioninenl 2024 lidiii.iriislralor tee ('OlTiriiiinily w(;bqile AdriiinloffiL& experises Iiidepe.nden1 Ex'(jllFinp.r' lees nsurarice L.SF. regislrc31101., lee £(',VO aririijal Iii'skiip Wtsrk di.JrJc' Actiia 5,637 1,107 7,516 1,107 36 6,874 1,079 36 1,650 488 80 279 4,412 Acllial 1,49J 396 Actual Acludl 488 80 279 279 10,188 6,71:4 Page 9
SI IZA? ItLII-A, ifAW'LF 7 801 trie endeo 31 ttharcki 2Q25 (¢ortlir*ue<l' Investments All iiiveslmeiils are held primarily lo pi"ovide an investment return for tl)e T rust arid are mdde up as follows.. 2025 2024 Inveslinenls Cash 151,771 913 152,684 148,C'60 3,085 151,145 Movements in investments during the year were.. Market V<ilue al beginniiig of year Add: Additions lo inveslinenls at Lost Less= Di8p(J5(Jls at rnarket value Add: Nel gain (Ioss) on revaliialion Market value at end of year 151,145 3,797 15, 7461 3,488 152,684 143,856 13,077 (14,906) 9,118 151,145 2025 2024 Cotrt of ir)vestments at erid of year 126,503 125,685 Debtors 2025 2024 Accrued investment inconie Commuiiity Benefit share Prepayments Grant refuiid 14 36,912 248 241 37,174 241 10 Creditor5 2025 2024 Fees, outlays and grants outstanding 5.444 5,444 3,593 3,593 Page 10
11 Funds Reconciliation of reserves b3ldrice as ¢Jl JOLJrcè¢ Oilii'r J11U3120?4 Expénded 311U3120?i Unrèstricted Funds General Capital Restricted Funds Glen Kytlachy Wind Fartn 128,493 156,281 94,838 (65,554) (2.525) 157,777 157.309 3,553 34,820 36,912 (35,000) 36,732 319,594 131,750 (103,079) 3,553 351,818 Reconciliation ol reselves comparative alance as al 3110312n23 Incomiiig RcsourGe.q Re.SC>UFces Otlie-, lance as al 3110312024 Exp(nded ovenierils Unrestricted Funds General Capital Restricted Funds Glen Kla¢hY Wind Farm 120,231 150,312 91,540 183,278) {2,610) 128,493 156,281 8,579 34.032 35,788 (35,000) 34,820 304,575 127,328 (120,888) 8,579 319,594 Analysis of net assets between funds Unrostiiclgd P'uKids Total 3110312[J25 R¢<tiic.led Irivestnients Cash al Bank Otlier nel curreiil ès¢els 152,6U4 152,684 167,404 31,730 351,818 161,404 19,627) 157,777 4,625 157,309 36,732 Page11
STRATHDEARN COMMUNITY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2025 (continued) Analysis of net assets between funds comparative Unrestricted Funds Geiièr81 C8PItLI Total J110ti12Q24 Rosiriclc- Investments Cash al Bank Other nel current assets 151,145 -151,145 171,801 {3,352 319,594 171,801 143,308) 128,493 5,136 156,281 34,820 34.820 Funds Capital 7 lie Trusl Deed allows the initial capital payment lo be spent as iricome or retained as capital al the trustees. discretioii. The income ari8ing 18 unrestricted. General This relates lo unreslricled lunds lo be used for general purposes Reslricled funds represents monies received lo provide a range of targeted activities. 12 Related party trdiisaction¢ and staft costs Norye of Ilie Iriislees we.re paid, any reiiiunerdtion or expenses durii)g the yea,. dnd there were rio employees. 13 Commltments Al the yeaf end the following grants had been approved-. Strathdearn Community Council - snow clearing 5.751 14 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Page 12