CHARITY REGISTRATION NUMBER: SC038956 The Hynish Trust SCIO Unaudited Financial Statements 31 March 2025 BARRIE SCOTT & CO Accountants and tax advisers 16-18 Weir Street Falkirk FK1 1RA
The Hynish Trust SCIO Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
The Hynish Trust SCIO Trustees, Annual Report Year ended 31 MarGh 2025 Ttse trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and administrative detalls Registered charity name Charity registration number Prlnclpal office The Hynish Trust scio SC038956 The Lighthouse Shore Ststion Hynish Isle of Tiree Argyll and Bute PA77 6UG The Iru8tee8 Independent examiner Structure, governanee and management Governing document The chsrity is controlled by its governing document, a deed of trust, and constitutes a SCIO, having reconstituted from limited company IHebridean Trust Limited 01653639) on 28 January 2025. Organisational structure The Trustees collectively form a Board. The existing Board appoint any new Trustees until the first AGM which will be held in 2026. All Trustees give of their ts'me freely and no Trustee remuneration is paid. Risk management The major risks lo which the charity has been exposed have been reviewed by the Trustees and systems established lo mltigate those risks.
The Hynish Trust SCIO Trustees. Annual Report (contlntsed) Year ended 31 March 2025 Objectives and activities Ojectives and aims The SCIO has been formed to benefit principally the community of Tiree which comprises all the postcode units within postcode district PA77 ( the Community ) with the following objects.. (1) The advancement of community development (including the advancement of rural regeneration) principally within the Community, through a range of initiatives centred on the complex of buildings forming the historic lighthouse shore station at Hynish (Tiree) and any further buildings which may be constructed in the vicinity, which may include any or all of the following.. (a) the creation of employment opportunities (including self-employment), through (i) the provision of flexible workspace, for use on favourable terms and (li) the provision (or assistance in the provision OQ training courses in skills which will assist the participants in finding employment or supporting themselves through self-employment" (b) addressing the chronic shortage within the Community of housing at affordable rent levels {1) for key workers and others whose presence on Tiree is required to sustain the local economy and lil) for people in necessitous circumstances, through the provision of housing for rent on affordable terms,. (c) advancing the arts and culture, through the provision of appropriate performance, rehearsal, learning andlor exhibition space for arts and cultural activities., And (d) providing recreational facilities available to members of the public at large, with the object of improving their conditions of life,. {2) The promotion for the public benefit of the preseNation (whether wholly or in part) of buildings and other features of historic, pre- historic andlor architectural significance, and in particular the complex of buildings forming the historic lighthouse shore station at Hynish and any other features of historic or pre-historic interest (including structures, sites and artefacts} in the vicinity of those buildings,'13) The advancement of education, and in particular with regard to the historic lighthouse shore station at Hynish as well as the Skerryvore lighthouse itself, and other topics relating to the area in which the buildings are located and those living in and around that area. Achievements and performance Achievements and Performance This year as been all about the conversion from The Hebridean Trust to the Hynish Trust and the creation of a new structure (SCIO). This was achieved in January 2025 after lengthy negotiations with the Charities Commission and OSCR. This will now allow the community to take the site at Hynish forward and develop it for the future. A major milestone. A major step fomard was receiving funding support from A&BC Strategic Housing Fund and HES to upgrade 2 of the Lighthouse Cottages at Upper Square. This has allowed 2 families to move in on long term leases. Changing all leases to Private Residency Tenancy (PRT)agreements have also been an important step forward. Moving the Skerryvore Exhbition to the Old Store House allowed Morton Boyd Hall to revert back to be used as a multi purpose hall. This was completed with the help of volunteers by end of March 25. Funding was received from SSEN to upgrade the electrics and improve energy efficiency in both halls. Funding was also received A&BC for new branding, signage and website to reflect the new Hynish Trust. Morton Boyd Hall was renamed Skerryvore Studio and a marketing plan was commissioned to assist with planning occupancy and revenue for the future. Funding was secured for this. Considerable volunteer time and work was put in to funding applications during the last quarter which have been successful.
The Hynlsh Trust SCIO Tru8ts08' Annual Report (wilnu•dJ Yoar endod 31 March 2026 Flnanclal r•vl•w Flnanelal rnvl•w Th? rèsult8 for the yew and tho ffnanclal posltl¢x of Ihe Charfty are as 8hLAvn In the flnanclal 8tot•ment•. The defidl for the period wa8 £388,857 P024.. £334,981) beln9 a Unre6trtlod Funa déflcll Of £85,188 and a Rakted Fund deflclt of £301.889. The Restrlcted Fund defldt V+7$ ¢roated by tho a88ots bolng rovalu•d durlng tho year. Tho net 3?1$ of Ihe charlty al the year end were £2,172,436 (2024: £2,539,292) ol whkh net Ilabllitles of £10,403 (2024: £64.765) reted to Unrestrlcted Fund8 and not 88s8ts 01 £2,182,838 {2024: £2,484.627) rolatod to R8•trkted Fund6. Re1Ve pollcy It 19 Ihe pollw of the ¢harlty to malntsln Unrestrkted reseNe8 at 8 v01 to provlde 8ufficl•nt fund• to cowr management, adminlstrauon and 8UPPOrt co8t8, The TN8tee8 11 seek to bulld free re8erv88 through fundfa181ng and Incomo gonoratlon. Plan8 for futuro p•rlod• Futur• plans Fundlng has been 88cur8d for 3 pro1. A&BC SHF Phase 2 upgrad8 eott8ge8 8t Uppr Square and 2 cottag•$ at lo%%r 8quaro Rural Tourfsm Infrastructur& Project - upgrad8 3 car parks, fencing. gates 8nd create a dlrecllonal trall wlth Infornialon board8 Sccttish Govemment Island Project - Llghthouse Cottages H8rltsge Projèct - external up9rad8 kn 4 Upper Square Cottages and tralnlng programme for traditlonal skllb There Is a180 a fundlng 8ppll¢atlon submltted to the Hertloge Lottery Fund for 2 full tlme posts. Securlng fundlng for posts Is 8 rnajor pflorfty 88 volunteer capadty has b•en 8tretched over the past y88rs. It Is hoped to secure lundlng for a proJt to ellow r8furb18hm8nt of the 3 cowsh8d8 th18 year to pmvkle buslness space for locals. Upgradlng worf( Is planned for Alan Stevenson House and th• orvJclng Improvement of bulldlngs acrogs the slt6 to make them more enèrgy efficlent and revenu? generallng. The trustees, snnual report wa8 approved on 17 Dec8mber2025 and 8]gTr on behalf of tho board of trustee8 by.
The Hynish Trust SCIO Independent Examiner's Report to the Trustees of The Hynish Trust SCIO Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of The Hynish Trust SCIO (Ihe charity,) for the year ended 31 March 2025. Responsibilltles and basis of report As th8 trustees of the charity you are responsible for the preparation of the financial statements In accordan with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (the '2005 Act,) and the Charities Accounts (ScoU2nd) Regulations 2006 (as amended). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination. I report in respect of my examination of the charty's financial staternents as carried out under section 44(1}{c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended) Independent examlner's statement Since the charity has prepared its accounts on an accruals basis your examiner must be a member of a body listed in Regulation 11(2) of the Charltles Accounts (Scotlandl Regulations 2006 las amended). I can confirrn that l am qualified to undertake the examinatlon be(3use i am a registered member of ICAS which is one of the listed bodies. I hav8 completed my ex8mination. l Gonfinn that no matters have corne to my attention giving me cause to believe that in any rnaterisl respect.. accounting records were not kept as required by section 44{1)(a) of the 2005 Act and Regulation 4 of the Charities Accounts (Scotlandl Regulalions 2006 (as amended),. or the financial statements do not accord wrth those records", or the financial statements do not comply with the accounting requirements of Regulation 8 of the Charities Accounts {Scotland) Regulations 2006 (as amended). I have no concerns and have come across no other matters In connection with the examination to which attention Should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
The Hynish Trust scio Statement of Financial Activities Year ended 31 March 2025 2025 Unrestricted funds Restricted funds 2024 Note Total funds Total funds Income and endowments Donations and legacies Charitable activities Other trading activities Investment income Other income 7,423 47,590 66,688 74,111 47,590 8,679 51,244 171 310 125 19,549 74,687 125 19,549 141,375 Total income 66,688 60,404 Expenditure Expenditure on raising funds.. Costs of raising donations and legacies Expenditure on charitable activities Total expenditure 10,11 196 395,169 395,365 61,961 446,271 446,271 508,232 508,232 61,961 Net expenditure 12,726 (379,583) (366,857} (334,961) Transfers between funds (77,894) 77,894 Net movement in funds (65,168) (301,689) (366,857) (334,961) Reconciliation of funds Total funds brought forward Total funds carried fOard 54,765 (10,403) 2,484,527 2,182,838 2,539,292 2,172,435 2,874,253 2,539,292 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 17 fomi part of these financial statements.
The Hynlsh Trust scio ststement of Flnanclal Po8ltlon 31 MarGh 2025 2020 2024 Flxed a88ets Tanglble fixed assets 18 2.176,622 2,661,600 Current a688ts Debtors Cash at bank arKI In hand 19 24,942 6,730 15,4U 22.174 29.627 Credltor8: amounts falllng du• wlthln one year Net current Ilabllltles Total a88ets le88 currnnt Ilabllltl68 24,528 2,174.387 2,549.246 Crndftor8: amounts falllng du• after more than one year N•t asMI8 21 2,172,435 2,539,292 Funds of the charlty Rg3tricted funds Unrestricted funds 2,182,838 (10,403) 2,172,436 2,484,627 64,765 2,539.292 Total charfty fund8 The$6 financial Statements werg approved by the board of trustees and authorlsed for18suo on 17 December 2025, and ar8 slgn8d on beh8lf of the board by.
The Hynish Trust scio Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entity and a registered charity in Scotland and is unincorporated. The address of the principal office is The Lighthouse Shore Station, Hynish, Isle of Tiree, Argyll and Bute, PA77 6UG. Statement of compliance These financial statements have been prepared in compliance with the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended). Accounting policies Basis of preparation The financial ststements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity- Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the Circumstan$. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds.
The Hynish Trust SCIO Notes to the Financial Statements (contlnued) Year ended 31 March 2025 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,- it is probable that the economic benefits associated with the transaction will flow to 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 recognised when there is eviden of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and serVIS are recognised in the accounts when received if the 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 contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is re¢ognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support 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 funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The Hynish Trust SCIO Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (continued) Tanglble assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Freehold propety Fixtures and fittings Improvements to propety Impairment of fixed assets 2 /0 Straight line 250/0 Straight line 20/0 Straight line A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the Carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, 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 asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
The Hynish Trust SCIO Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (contlnued) Defined contribution plans (Continued) When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related servi, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Donations and legacies Unrestricted Funds Restricted Funds Total Funds 2025 Donations Donations 7,423 7,423 Grants Grants receivable 66,688 66,688 7,423 66,688 74,111 Unrestricted Funds Restricted Funds Total Funds 2024 Donations Donations 5,679 5,679 Grants Grants reTrivable 3,000 3,000 3,000 8,679 5,679 Charitable activities Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Holiday accommodation Residential accommodation Short term lettings 1,045 8,019 42,180 51,244 1,045 8,019 42,180 51,244 14,150 33,440 47,590 14,150 33,440 47,590 Other trading activities Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Hynish tours 171 171 10
The Hynish Trust SCIO Notes to the Financial Statements (continued) Year ended 31 March 2025 Investment income Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Bank interest receivable 125 125 310 310 Other income Unrestricted Funds Total Funds 2025 Unrestricted Funds Total Funds 2024 Use of land Tenant recharges 1,703 17,846 1,703 17,846 19,549 19,549 Costs of raising donations and legacies Unrestricted Funds Totsl Funds 2025 Unrestricted Funds Total Funds 2024 Hynish tours 196 196 10. Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Charitable costs Support costs 38,855 23,106 61,961 56,826 389,445 446,271 95,681 412,551 508,232 Unrestricted Funds Restricted Funds Total Funds 2024 Charitable costs Support costs 44,719 15,339 60,058 316,855 18,256 335,111 361,574 33,595 395,169 11. Expenditure on charitable activitles by activity type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Charitable costs Governance costs 95,681 409,975 2,576 412,551 505,656 2,576 508,232 390,393 4,776 395,169 95,681 11
The Hynish Trust SCIO Notes to the Financial Statements (contlnued) Year ended 31 March 2025 12. Analysls of support costs Premises Total 2025 Total 2024 Premises Communications and IT General office Finance costs Governance costs Depreciation Loss on sale Accountancy Interest payable Professional fees Sundry Impairment costs 10,745 3,675 66 131 10,745 3,675 66 131 9,441 515 266 1,330 18,812 51 2,640 540 18,567 18,567 2,100 345 17,788 1,721 357,413 412,551 2,100 345 17,788 1,721 357,413 412,551 33,595 13. Net expenditure Net expenditure is stated after chargingl{crediting): 2025 2024 Depreciation of tangible fixed assets 18,567 18,812 14. Auditors remuneration 2025 2024 Fees payable for the audit of the financial statements 1,330 15. Independent examination fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements 2,100 16. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows-. 2025 2024 Wages and salaries Employer contributions to pension plans 1,400 3,826 80 1,400 3,906 12
The Hynish Trust SCIO Notes to the Financial Statements (continued) Year ended 31 March 2025 16. Staff costs (contlnued) The average head count of employees during the year was Nil (2024: 1). The average number of full-time equivalent employees during the year is analysed as follows.. 2025 2024 No. No. New branding and website No employee received employee benefits of more than £60,000 during the year (2024.. Nil). 17. Trustee remuneration and expenses No remuneration was paid to the Trustees or any other connected persons during the year nor the previous year. Trustees. expenses There were no trustees, expenses paid for the year nor the previous year. 18. Tangible fixed assets Freehold property Fixtures and Improvements fittings to propety Total Cost At 1 April 2024 Revaluations 2,565,423 (357,413) 2,208,010 73,524 57.645 2,696,592 (357,413) 2,339,179 At 31 March 2025 73,524 57,645 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 68,410 17,102 72,590 312 3,990 1,153 5,143 144,990 18,567 163,557 85,512 72,902 Carrying amount At 31 March 2025 2,122,498 2,497,013 622 52,502 2,175,622 2,551,602 At 31 March 2024 934 53,655 19. Debtors 2025 2024 Trade debtors Prepayments and accrued income Other debtors 22,184 844 1,914 24.942 5,318 598 814 6,730 13
The Hynish Trust SCIO Notes to the Financial Statements (continued) Year ended 31 March 2025 20. Creditors: amounts falling due within one year 2025 2024 Bank loans and overdrafts Trade creditors Accruals and deferred income Other creditors 8,000 19,162 2,200 1,500 30,862 7,745 12,304 4,079 400 24,528 21. Creditors: amounts falling due after more than one year 2025 2024 Bank loans and overdrafts 1,952 9,954 22. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £Nil {2024. £80). 23. Analysis of charitable funds Unrestricted funds At Transfers 31 March 2025 At 1 April 2024 Income Expenditure General funds Designated Stonewall Park Charitable Trust 54,010 74,687 (61,176) (77,924} (10,403} 755 (785) (61,961> 30 54,765 74,687 (77,894} (10,403} At Transfers 31 March 2024 At 1 April 2023 Income Expenditure General funds Designated Stonewall Park Charitable Trust 57,615 55,404 (59,009) 54.010 2.000 (1,245) (60,254) 755 57,615 57,404 54,765 14
The Hynish Trust SCIO Notes to the Financial Statements (continued) Year ended 31 March 2025 23. Analysis of charitable funds (continued) Restricted funds At 1 April 2024 At Transfers 31 March 2025 Income Expenditure Upper Square Lower Square Treshnish Islands Historic Environmental Scotland Argyll and Bute Council - Staycation Fund New Branding and Website Architectural Heritage Fund Argyll and Bute Council Strategic Housing Fund Scottish & Southern Electricity Networks Scottish Government Resilien Fund 852,372 1,621.031 (102,372) (273,297} 750,000 1,425,000 77,266 7,838 7,838 1,286 2,000 {1 ,400) {2,000) {6,600) 114 6,600 42,884 (43,305) 421 11,918 (11,918) 5,286 66,688 {5,379) {446,271) 93 2,484,527 77,894 2,182,838 At Transfers 31 March 2024 At 1 April 2023 Income Expenditure Upper Square Lower Square Treshnish Islands Historic Environmental Scotland Argyll and Bute Council Staycation Fund New Branding and Website Architectural Heritage Fund Argyll and Bute Council Strategic Housing Fund Scottish & Southern Electricity NeOrkS Scottish Government Resilience Fund 858,561 1,633,098 307.395 (6,189) {12,067) (307,395) 852,372 1,621,031 13,573 (5,735) 7,838 4,011 (2,725) (1,000) 1,286 2,000 3,000 2,816,638 3,000 (335,111) 2,484,527 15
The Hynish Trust SCIO Notes to the Financial Statements (continued) Year ended 31 March 2025 23. Analysis of charitable funds (continued) Upper Square We have upgraded 2 of the 4 restored lighthouse cottages. These are long term leases to localslkey workers as affordable house. The Signal Tower has been earmarked as a project for 2&26. All these buildings are Category 1 Listed. Lower Square - This includes the following projects: Alan Stevenson House is now a hotel and is on long term lease to a local family. They also has sole us of the Coal Store. Morton Boyd Cottage is used for seasonal workers The Cottage is a long term lease to localslkey workers as affordable housing The Stables is a long term lease to localslkey workers as affordable housing Old Storeroom now houses the Story of Skerryvore Exhibition Morton Boyd Hall (where the exhibition used to be) has now reverted to being a multi purpose Hall and has been renamed Skerryvore Studio. Three Cowsheds are used for storage PigstylLatrines is an empty building The Barracks (6 flats) are not fit for occupancy and a refurbishment project is planned for 26-28 Hynish Harbour, Reservoir, Flushing System and Boom Gates will be a future project. All buildings are Category 1 Listed. Historic Environmental Scotland Energy improvements to the 2 cottages at Upper Suare (in conjunctions with the A&BC SHF Phase 1 Project) Argyll and Bute Council - Staycation Fund Warden for summer season. Argyll and Bute Council- Branding and Website Develop new branding for the Hynish Trust, new website and social media plan Architectural Heritage Fund Funding for the valuation costs for the Hynish Shorestation project. Argyll and Bute Council Strategic Housing Fund Phase 1- improvements to the 2 cottages at Upper Square (in conjunction with HES) Scottish & Southem Electricity Networks Electric and energy efficiency at Old Store and Morton Boyd Hall to facilitate the Exhibition Move Scottish Government Resilience Fund Marketing Consultant and Plan for Skerryvore Studio (SS) Crockery and glasses for SS, signage for the Exhibition and SS, 2 months admin support to facilitate the move and coordinate volunteers. 16
The Hynish Trust scio Notes to the Financial Statements (continued) Year ended 31 March 2025 24. Analysis of net assets between funds Unrestricted Funds Restricted Funds Total Funds 2025 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 622 21,789 (30,862} (1,952) (10,403) 2,175,000 7,838 2,175,622 29,627 (30,8621 (1,952) 2,172,435 2,182,838 Unrestricted Funds Restricted Funds Total Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 935 71,155 (7,371) (9,954) 54,765 2,550,667 (48,981) (17,159) 2,551,602 22,174 (24,530) (9,954} 2,539,292 2,484,527 25. Related parties During the year a Trustee provided a loan to the charity amounting to £11,000. This loan was interest free and had no terms of repayment. At the year end the Trustee donated the balantr of £4,000 to the charity. 17