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← InspirAlba Ltd

2025-08-31-accounts

Charity registration number SC040666 (Scotland) Company registration number SC360204

INSPIRALBA LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

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INSPIRALBA LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Directors A Clark
T Chambers
S Cole
D Forsyth
L Kardasz
A Higgins
Secretary A Clark
Charity number (Scotland) SC040666
Company number SC360204
Registered office 42 Ralston Road
Campbeltown
Argyll
PA28 6LE
Auditor Third Sector Accountancy Ltd
Holyoake House
Hanover Street
Manchester
M60 0AS
Bankers Bank of Scotland
PO Box 17235
Edinburgh
EH11 1YH

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INSPIRALBA LTD

CONTENTS

Page
Directors Report report 1 - 8
Statement of Directors report responsibilities 9
Independent auditor's report 10 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 - 29

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INSPIRALBA LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The Directors (who are trustees for the purposes of charity law) present their report and the financial statements for the year ended 31 August 2025. This report includes the directors’ report as required by company law, and the trustees report as required by charity law

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

The Directors review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The Directors report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Directors ensure the charity's aims, objectives and activities remained focused on its stated purposes.

Objectives and activities

Public benefit

The directors have paid due regard to guidance issued by the Office of Scotland Charity Regulator (OSCR) in deciding what activities the charity should undertake.

The charitable company InspirAlba Ltd (‘InspirAlba’) was incorporated on 26 May 2009 and over the past 15 years we have developed our services, providing: employability support, learning resources, networking and business support, for the benefit of individuals and our rural communities.

InspirAlba coordinates a range of employability opportunities, working with partners across the third sector, to support individuals facing barriers to reach their full potential. In addition, business support, learning and network support is provided for rural social enterprise, building resilience and assisting community-based organisations to turn their ideas and aspirations into robust, sustainable business activities.

All surpluses are reinvested in our charitable objectives, through in-kind support and grant for creating and supporting employability opportunities, developing skills and supporting social enterprises. The company is limited by guarantee and does not have share capital. It is a registered Scottish Charity.

Our charitable objectives are:

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INSPIRALBA LTD

DIRECTORS' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance

Significant activities and achievements against objectives

Over the past year InspirAlba has continued to deliver services which support employability opportunities and assist rural social enterprises. Our employability activities have become the biggest proportion of our work, assisting individuals to gain skills, confidence and progress on their employability journey. Our collaborative model of delivery is recognised as good practice and we have shared learning on this approach. Our business support delivery continues to assist organisations across Argyll and Bute and is recognised nationally as good practice, with an increased focus on crisis management and resilience as the landscape has become more challenging for social enterprises. Our RuralSEhub work continues to support networking and learning exchange for rural social enterprises across Scotland and beyond, gathering feedback and reporting back to stakeholders on key themes and priorities highlighted by social enterprise from across our island and mainland rural communities.

EMPLOYABILITY SUPPORT

We have seen continued demand for employability services, with increased emphasis on support for parents in the context of reducing child poverty. In addition, our wage subsidy programme and graduate apprenticeship funding, continue to support transition to employment whilst building capacity for third sector organisations.

No One Left Behind Employability Support

InspirAba is an active member of the Argyll and Bute Local Employability Partnership and lead for our network of third sector delivery partners. Through this model we are able to respond to local needs and provide effective, locally based employability support. Support is managed and coordinated by InspirAlba working with local delivery partners, including InspirAlba, Fyne Futures, HELP, Centre 81, Mid Argyll Youth Development Services and Oban Youth Café, alongside specialist support from Bute Advice and Alienergy helping participants to reduce costs and maximise household income. No One Left Behind Employability Support is delivered on behalf of the Local Employability Partnership in line with Scottish Government No One Left Behind policy.

Our partnership delivery model enables local organisations with geographic and specialist expertise to provide services that meet the needs of those facing barriers to work and parents on low income. This collaborative model allows us to deliver local, person centred and tailored support, including accredited training, wellbeing support, tools and equipment, work experience and wage subsidies, along with regular coaching to build confidence skills and resilience. In addition to specialist support on benefits, debt management, energy efficiency and affordable warmth, to increase household income and reduce fuel poverty. Self-employment support assists participants who would like to progress to self-employment.

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INSPIRALBA LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

All Age Employability Support – Spark Your Purpose

Spark Your Purpose provides pre-employment support for those aged 15 – 67 who are currently unemployed. The focus of the programme is very much in getting participants engaged, tailoring support that meets their needs as individuals supported by locally based organisations.

We recognise the importance of building confidence, resilience, aspirations and belonging, to assist participants to progress along the employability pipeline, valuing all achievements within this context.

During the period September 2024 – August 2025, we were able to start 210 all age unemployed participants on the programme.

Feedback from Spark Your Purpose Participants:

‘I did lots of online training courses which helped boost my CV. I gained the confidence to apply for more jobs and we covered interview techniques’.

‘Took part in workshops, learned more about music production and techniques, while also researching music production equipment and sourcing supplies.’

‘Just thankful for the support provided, found it really helpful.’

Parental Employability Support – PESF

Our support for parents is designed to assist low-income families to gain skills, confidence and improve wellbeing to support employability and increase household income. As with our All Age Employability provision, support is person centred and tailored to meet the needs of participating parents.

As well as tailored coaching support, training, skills development and wellbeing, we are also able to bring in additional specialist support to reduce household costs and increase household income. Alienergy address issues of fuel poverty for parents and Bute Advice provide additional support to manage debt and increase household income.

Through the programme we have also created opportunities for parents to become child minders, addressing the issue of lack of childcare in the area, whilst also creating meaningful self-employment for parents.

Creative Cookery is a programme element that supports parents to create affordable, nutritious and energy efficient meals for their families, whilst at the same time developing skills and confidence.

During the period September 2024 – August 2025, we were able to start 142 parents on the PESF programme.

PESF Participant Feedback

‘I enrolled in a Health and Social Care course, and also received a laptop to complete this course on. I am really enjoying it and it is keeping me motivated.’

‘L helped me find the course I wanted to do and bought the higher spec laptop and drawing tablet that was required for the course.’

‘I did training in bookkeeping and received support for my self-employed business idea in cleaning’

PESF Films: https://vimeo.com/1107060259 https://vimeo.com/1104069687

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INSPIRALBA LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

We have seen an increase in participants with long term conditions and disabilities being supported as well as a range of barriers to work. Therefor, progression along the employability pipeline may vary for participants, depending on where they are at at the start of their engagement.

The progression outcomes from our No One Left Behind delivery remain higher than Scottish Average, with 46% of our participants progressing to employment or self-employment (of which only 5% subsidised), compared to 31% overall for Scotland (of which 29% subsidised). 40% of our participants gain a qualification compared to 16% Scottish Average. We have a lower than Scottish average progress to Modern apprenticeships but higher % into self-employment.

Household Resilience and Wage Based Placements

Funding was extended in 2024, to support wage-based placements from UK Shared Prosperity Funding and Scottish Government Investing in Communities, as well as match from Fyne Homes and Fyne Energy. There is a focus on household resilience for participants as well as adding capacity for third sector organisations across the area.

Over the period September 2024 – August 2025, we supported 22 wage-based placements across 12 third sector organisations. We also supported 4 Graduate Apprentices and 1 Graduate placement during the timeframe.

16 of the wage subsidy posts have been working with organisations across the area to assist local people to access specialist support to address challenges of rising household costs, fuel poverty and climate change. In addition, local organisations were supported to share learning and good practice to support community resilience after Storm Eowyn in January 2025.

Feedback from participants:

‘The opportunity for this Graduate Apprenticeship came up and the chance to have a positive impact on the community where I grew up while furthering my career really stood out to me. This Apprenticeship has allowed me to shadow various leaders in this sector and gain crucial skills/experiences in how to run a business.’

‘I have found being able to support people through things such as benefits applications and help with resolving issues people are facing with the benefits system very rewarding and it feels like the work I do really matters. Inspiralba and Bute Advice Centre have given me the opportunity to have a career in a line of work that I had never considered before, and I am very grateful for that.’

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INSPIRALBA LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

BUSINESS SUPPORT

InspirAlba deliver Business Support for social enterprises through Just Enterprise consortium of delivery partners as well as responding to requests for local delivery or directly to requests for support for specific areas of work. Our Business Support activity has remained reasonably level from previous years and continues in to 2025/26.

Just Enterprise Business Support

InspirAlba have delivered business support via Just Enterprise (a support programme funded by the Scottish Government, to help sustain, develop, and grow social enterprises and enterprising charities in Scotland). Over the year, we have worked with 19 community led and social enterprises across Argyll and the Islands, with business development assistance. This work includes reviewing existing operations, developing business plans, scoping new areas of work as well as developing financial/investment plans and strategies. Over the year, there has been a much greater demand for crisis support and resilience support with organisations facing significant challenges in terms of increased operating costs and reducing income.

This has led to in-kind development work to consider alternative business support models, including shared services as a means of assisting organisations to improve resilience.

Other Business Support

In addition, further business support has been provided for 3 organisations directly: 2 on resilience and 1 on start-up new business activity. We also delivered support with NHS colleagues to consider options for the roll out of a grant funded pilot service.

In-kind support has been provided to 3 local organisations over the year.

RURAL SOCIAL ENTERPRISE

Over the year we have continued to deliver activities to support rural social enterprise via the Rural Social Enterprise Hub with support from the Scottish Government. The www.ruralsehub.net provides a focal point for research, development, learning resources and case studies for rural social enterprise in Scotland, Europe and further afield.

Rural Hub: During the year, via our Rural Hub activity, InspirAlba supported 55 events, workshops and learning exchanges which provided information to 1781 participants. This included, 4 Rural Social Enterprise Network Sessions and 8 Learning exchanges, covering topics such as crisis support, inclusive democratic business, tackling child poverty, strengthening community resilience, fuel poverty, support for new Scots and Women Leaders, as well as inputs and workshops with a range of strategic partners, including Scottish Rural Action, Scottish Community Alliance, SCVO and Social Enterprise Scotland. InspirAlba also provides advocacy for rural social enterprises on a number of national groups, including the Rural Economy Steering Group, Rural and Social Enterprise Cross Party Groups.

There has been engagement internationally, presenting at Rural to Rural in Ontario and engagement with Social Enterprise World Forum. Preparatory work has also been undertaken for a Horizon EU project focused on Just Transition.

The www.ruralsehub.net website has had 8979 user visits with 64,253 page views.

Collective Leadership: InspirAlba have continued to develop knowledge and understanding to support practitioners to develop collective leadership skills. This has included training in Art of Hosting approaches in Argyll and Scotland wide.

SUPPORTING OPPORTUNITIES FOR LEARNING AND DEVELOPMENT: With a commitment to creating opportunities for young people, InspirAlba have employed 1 Modern Apprentice and 1 Graduate Apprentice as well as development and learning opportunities across our team. This has included opportunities for informal and accredited training as well as representation at national and international events.

Additional capacity was added to the team this year to support the increased employability activity. The team have continued to work together with creativity, integrity, diligence, commitment and determination to meet challenging timescales and deliver quality provision across our services in a complex and ever-changing context.

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INSPIRALBA LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Financial review

The charitable company generated net income of £203,634 in the year, compared to net income of £248,547 in 2023/24. The majority of this is restricted funding which will be used to deliver the objectives of the grant funding received for employability activities.

The Board continue to keep the charitable company’s activities under review, particularly with regard to any major risks that may arise from time to time. The major risks identified by this process have been mitigated to an acceptable level by internal control systems, insurance cover and other factors as appropriate.

As with many third sector charities delivering services supported by the public sector, many of our income streams are from annualised budgets. Thus, we only have certainty for one public sector April to March financial year at a time for a significant proportion of our income. Thus, we have established a robust reserve to ensure we can weather any storms and continue services when there are delays to allocation. We also continue to look at diverse income streams, to manage this risk and now that our employability services are more established, we will be looking to extending some of our other areas of activity and potentially developing new income streams to mitigate risk. We know that funding is secure from all of our income streams until March 2026, and have indicative budgets to March 2027, apart from UKSPF which will cease with a UK government divestment from rural areas. We will therefore look for alternative income streams given the rising inequalities which impact rural and island communities.

Beneficiaries of our services

InspirAlba employability activities support all age unemployed people, as well as working with parents on low income. Our business support and rural social enterprise hub activities support rural social and community led enterprises.

Reserves policy

The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The board reviewed the reserves policy and agreed that a minimum level of unrestricted general funds, also known as free reserves, of £157,322 is appropriate given the risks faced by the charity and the sustainability of its different income streams. In addition, from our restricted funding we require a restricted reserve of £335,854.

Principal funding sources

InspirAlba generated trading income from Just Enterprise business support services, which is delivered as a consortium partner on behalf of the Scottish Government with CEIS as lead partner and via Community Enterprise for Accelerate business support. Trading income was also generated working directly with Oban Communities Trust and Inspire Inveraray.

Grant income was secured for the delivery of various employability programmes from Argyll and Bute Council, including No One Left Behind and UKSPF, with a significant proportion of this funding passed on to delivery partners, for wage subsidy and on direct project costs, such as training and expenses for programme participants.

Grant Income secured from Scottish Government for Investing in Communities activity is administered by Fyne Homes, with the majority of this income being passed to employing social enterprises.

Grant funding was also secured from Highlands and Islands Enterprise towards a Graduate Placement.

The Scottish Government has provided funding towards the costs of the Rural Social Enterprise Hub. In addition, we have secured various small grants including from NHS Highland and Scottish Community Alliance.

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INSPIRALBA LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Plans for future periods

We anticipate a sustained level of trading income, with continued delivery of business support with the Just Enterprise contract having been secured for a further 1 year. Similarly, we project continued delivery of employability activities with some drop in income due to wage placement activity due to come to an end in March 2026. We have No One Left Behind grants secured for activity until March 2026. UK Shared Prosperity and Investing in Communities Funding is secured until March 2026. Rural Hub funding is secured until March 2026. The Board are content that there is adequate projected income and reserves to support ongoing activity.

Structure, governance and management

The charitable company has a Board of non-executive directors and one executive director. Directors are recruited to represent organisations that InspirAlba have supported and to bring lived experience to inform our work.

The Directors have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

InspirAlba is governed by our Memorandum and Articles of Association and in line with charity law. The board ensure our activities align with our charitable objectives and ensure public benefit. Our policies and procedures are reviewed by the board bi-annually and strategic decisions are made at Board meetings. The board brings a breadth of experience in governance, policy, finance and operational activity. The Executive Director oversees the strategic management of InspirAlba, with support from the Finance and Operations Manager and the wider team for the delivery of objectives via operational activities.

The organisation is a Company Limited by Guarantee with Charitable Status, incorporated on 26th May 2009 and registered as a charity on 15th July 2009.

The governing document of the charity is a constitution dated March 2009.

In the event that the charity is wound up, the trustees of the charity have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

All Directors, with the exception of the Executive Director, give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the notes to the accounts.

The directors who are also trustees of the charity served during the year and up to the date of signature of the financial statements were:

A Clark

T Chambers

S Cole D Forsyth L Kardasz A Higgins

Key management personnel served during the year and up to the date of signature of the financial statements were: A Clark - Executive Director

J Slater - Business Manager

A Martin - Finance and Operations Manager

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INSPIRALBA LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Recruitment and appointment of trustees

We proactively engage with organisations and communities that we support to recruit Directors that bring a broad perspective of experience and expertise. Directors are nominated and elected at our AGM in accordance with our Memorandum and Articles of Association.

Directors are supported with induction, with our most senior and experienced chair providing governance and Director learning support, as her background is in governance, legal and corporate services. In addition, our Directors are invited to whole team strategy sessions to gain better insight to our work and activities. We don’t have any specific policies but will aim to establish these drawing on best practice.

The company's current policy concerning the payment of trade creditors is to:

Remuneration policy Remuneration of key management personnel

The board of directors review key management personnel pay and remuneration, by considering similar third sector roles with equivalent financial, personal and strategic responsibility.

Auditor

Third Sector Accountancy Ltd were appointed as auditor to the company and a resolution proposing that they be reappointed will be put at a General Meeting.

The Directors report was approved by the Board of Directors.

............................. A Clark Secretary

13 / 03 / 2026 Date: ............................................

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INSPIRALBA LTD

STATEMENT OF DIRECTORS REPORT RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025

The directors (who are trustees for the purposes of charity law) are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations.

Company and charity law requires the directors to prepare financial statements for each financial year. The directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Statement 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). Under company and charity law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the results of the charitable company for that year.

In preparing these financial statements, the directors are required to:

select suitable accounting policies and then apply them consistently;

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure of information to the auditor

To the knowledge and belief of each of the persons who are directors at the time the report is approved:

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INSPIRALBA LTD

INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF INSPIRALBA LTD

Opinion

We have audited the financial statements of InspirAlba Ltd (the ‘charitable company’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) (“FRS102”).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors report use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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INSPIRALBA LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF INSPIRALBA LTD

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the and the Charities Accounts (Scotland) Regulations 2006 require ~~s~~ us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the statement of Directors report responsibilities, set out on page 9, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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INSPIRALBA LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF INSPIRALBA LTD

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Capability of audit in detecting irregularities, including fraud

Based on our understanding of the charity and environment in which it operates, we identified the principal risks of non-compliance with laws and regulations related to pension legislation, tax legislation, employment legislation, health and safety legislation, and other legislation specific to the industry in which the charity operates, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the reporting requirements under FRS102, Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the pressure on management to achieve particular results. Audit procedures performed by the audit engagement team included:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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INSPIRALBA LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF INSPIRALBA LTD

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Patrick Morrello ACA, CTA (Senior Statutory Auditor)

For and on behalf of Third Sector Accountancy Ltd, Statutory Auditor Chartered Accountants Holyoake House Hanover Street Manchester M60 0AS Date: ......................... 17 / 03 / 2026

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INSPIRALBA LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
29,297
-
Charitable activities
4
66,449
1,253,990
Investments
5
2,956
-
Total income
98,702
1,253,990
Expenditure on:
Charitable activities
6
58,322
1,090,736
Total expenditure
58,322
1,090,736
Net income and movement in
funds
40,380
163,254
Reconciliation of funds:
Fund balances at 1 September
2024
As originally reported
155,039
256,232
Prior year adjustment
-
58,201
As restated
155,039
314,433
Fund balances at 31 August
2025
195,419
477,687		 as restated as restated as restated
Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
29,297
-
-
-
1,320,439
65,523
1,372,798
1,438,321
2,956
2,472
-
2,472
1,352,692
67,995
1,372,798
1,440,793
1,149,058
47,152
1,145,094
1,192,246
1,149,058
47,152
1,145,094
1,192,246
203,634
20,843
227,704
248,547
411,271
134,196
86,729
220,925
58,201
-
-
-
469,472
134,196
86,729
220,925
673,106
155,039
314,433
469,472		 as restated as restated as restated
Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
29,297
-
-
-
1,320,439
65,523
1,372,798
1,438,321
2,956
2,472
-
2,472
1,352,692
67,995
1,372,798
1,440,793
1,149,058
47,152
1,145,094
1,192,246
1,149,058
47,152
1,145,094
1,192,246
203,634
20,843
227,704
248,547
411,271
134,196
86,729
220,925
58,201
-
-
-
469,472
134,196
86,729
220,925
673,106
155,039
314,433
469,472
1,440,793
1,192,246
1,192,246
248,547
220,925
-
220,925
469,472

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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INSPIRALBA LTD

BALANCE SHEET

AS AT 31 AUGUST 2025

2025 2024
as restated
Notes £ £ £ £
Fixed assets
Tangible assets 12 2,015 4,976
Current assets
Debtors 13 150,461 150,083
Investments 14 5,000 -
Cash at bank and in hand 647,146 456,274
802,607 606,357
Creditors: amounts falling due within 15
one year (131,516) (141,861)
Net current assets 671,091 464,496
Total assets less current liabilities 673,106 469,472
The funds of the charity
Restricted income funds 16 477,687 314,433
Unrestricted funds 17 195,419 155,039
673,106 469,472

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

12 / 03 / 2026

The financial statements were approved by the directors on .........................

..............................

S Cole

Director

Company registration number SC360204 (Scotland)

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INSPIRALBA LTD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from operations
21
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Investment income received
Net cash used in investing activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
-
(5,000)
2,956		 £
192,916
(2,044)
-
190,872
456,274
647,146		 2024
£
(2,975)
-
2,472		 £
119,316
(503)
-
118,813
337,461
456,274

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

InspirAlba Ltd is a private company limited by guarantee incorporated in Scotland. The registered office is 42 Ralston Road, Campbeltown, Argyll, PA28 6LE.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The 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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors 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 directors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings

33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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INSPIRALBA LTD

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.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Estimate - Depreciation of fixed assets.

Basis of estimation - Fixed assets are depreciated over the useful life of the asset. The useful lives of fixed assets are based on the knowledge of the operations team, with reference to assets expected life cycle.

3 Income from donations and legacies

Unrestricted Unrestricted funds funds 2025 2024 £ £ - Donations and gifts 29,297

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

3 Income from donations and legacies (Continued)
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts
Other 29,297 -
29,297 -
4 Income from charitable activities
Total Total
2025 2024
£ £
Consultancy income 59,561 55,523
Other income 6,888 10,000
Performance related grants 1,253,990 1,372,798
1,320,439 1,438,321
Analysis by fund
Unrestricted funds 66,449 65,523
Restricted funds 1,253,990 1,372,798
1,320,439 1,438,321
Performance related grants analysis
Argyll and Bute Council Grants
Other grants
Fyne Homes
Scottish Government
Other		 Total
2025
£
933,293
85,651
105,901
30,888
98,257		 Total
2024
£
-
-
-
-
1,372,798

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

4 Income from charitable activities

(Continued)

There was deferred income of £106,741 removed from this years income to be included in next year's accounts.

This was made up of £12,000 from Fyne Homes and £94,741 from A&B Council.

The funds are restricted for the following costs:

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 2,956 2,472

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

6 Expenditure on charitable activities

Unrestricted
Restricted
2025
2025
£
£
Direct costs
Project costs funded by grants and donations
-
19,104
Consultancy costs
43,312
-
Training costs
7,421
-
Funded wages- training and employability income
and other grants
-
-
Grants/in kind made
1,340
-
Support costs
630
62,393
SYP Project NOLB-ILM Project
-
263,687
PESF Project
5,619
327,041
HRWP Project
-
330,882
Rural Hub
-
87,629
58,322
1,090,736
Analysis by fund
Unrestricted funds
58,322
-
Restricted funds
-
1,090,736
58,322
1,090,736		 Total
2025
£
19,104
43,312
7,421
-
1,340
63,023
263,687
332,660
330,882
87,629
1,149,058
58,322
1,090,736
1,149,058		 Total
2024
£
77,350
43,241
886
110,585
126
75,692
254,245
383,313
246,808
-
1,192,246
47,152
1,145,094
1,192,246

7 Support costs allocated to activities

Operating lease charges
Telephone and IT
General administration
Travel expenses
Utilities
Affiliation
Insurance
Office premises rental
Repairs
Fyne Homes management fee
Governance		 Total
2025
£
8,500
4,503
8,861
3,339
5,744
3,050
2,237
-
9,782
3,600
13,407
63,023		 Total
2024
£
-
2,892
9,793
4,913
3,595
46
2,190
7,683
26,222
3,850
14,508
75,692

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

7 Support costs allocated to activities (Continued) (Continued)
2025 2024
Governance costs comprise: £ £
Depreciation and loss on disposal of asset 2,961 2,488
Audit fees 10,446 12,020
13,407 14,508
Support costs have been apportioned in line with the level of direct expenditure incurred by each activity.
No trustee expenses were incurred in the year (2024 - £Nil)
8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 10,446 7,455
Depreciation of owned tangible fixed assets 2,887 2,488
Loss on disposal of tangible fixed assets 74 -
Operating lease charges 8,500 -
9 Employees
The average monthly number of employees during the year was:
2025 2024
Number Number
14 12
The number of employees whose annual remuneration was more than £60,000
is as follows:
2025 2024
Number Number
1 -
Remuneration paid to key management was £136,283 (2024 - £131,654).

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

10 Staff costs

Wages and salaries
Social security costs
Pension costs
Total		 2025
2024
£358,755
£335,806
£ 33,509
£ 26,606
£ 8,914
£ 8,962
£400,729
£371,374		 2025
2024
£358,755
£335,806
£ 33,509
£ 26,606
£ 8,914
£ 8,962
£400,729
£371,374
£371,374

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Fixtures and
fittings
£
Cost
At 1 September 2024 16,570
Disposals (5,042)
At 31 August 2025 11,528
Depreciation and impairment
At 1 September 2024 11,594
Depreciation charged in the year 2,887
Eliminated in respect of disposals (4,968)
At 31 August 2025 9,513
Carrying amount
At 31 August 2025 2,015
At 31 August 2024 4,976

13 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
82,320
8,623
59,518
150,461		 2024
£
90,960
-
59,123
150,083

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

14 Current asset investments

Current asset investments
2025 2024
£ £
Unlisted investments 5,000 -

The Trust invested £5,000 in Glenuig Community Inn, a society registered under the Co-operative and Community Benefit Societies Act 2014.

15 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income		 2025
£
5,318
126,198
131,516		 2024
£
-
141,861
141,861

A total of £106,741 was recognised as deferred income, comprising £94,741 from A&B Council and £12,000 from Fyne Homes. This income was deferred because the performance conditions had not been fully met at 31 August 2025.

As at 31 August 2024, deferred income totalled £108,985. This amount was fully released and recognised as income in 2025, with none of the 2024 balance remaining deferred at that date.

16 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 At 31 August
September resources expended 2025
2024
£ £ £ £
Development the Young Workforce 2,684 - (1,288) 1,396
Social Investment Scotland - 5,000 - 5,000
Fyne Homes 30,000 93,711 (78,062) 45,649
UK Shared Prosperity 893 266,996 (267,889) -
Fyne Energy 13,500 8,500 - 22,000
NHS 3,000 - - 3,000
No One Left Behind 264,356 799,966 (655,903) 408,419
Scottish Alliance - 10,498 (10,498) -
Social Enterprise Scotland - 26,410 (26,410) -
Scottish Government - 30,888 (38,665) (7,777)
Highlands and Islands Enterprise - 12,021 (12,021) -
314,433 1,253,990 (1,090,736) 477,687

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

16 Restricted funds (Continued) (Continued)
Previous year: At 1 Incoming Resources At 31 August
September resources expended 2024
2023
£ £ £ £
No One Left Behind 64,729 952,020 (752,393) 264,356
Fyne Energy 5,000 8,500 - 13,500
NHS 3,000 - - 3,000
Fyne Homes 14,000 16,000 - 30,000
UK Shared Prosperity - 333,077 (390,385) (57,308)
Development the Young Workforce - 5,000 - 5,000
86,729 1,372,798 (1,145,094) 314,433

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.

At 1 Incoming Resources At 31 August
September resources expended 2025
2024
£ £ £ £
General funds 155,039 98,702 (58,322) 195,419
Previous year: At 1 Incoming Resources At 31 August
September resources expended 2024
2023
£ £ £ £
General funds 134,196 67,995 (47,152) 155,039
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 August 2025:
Tangible assets 2,015 - 2,015
Current assets/(liabilities) 193,404 477,687 671,091
195,419 477,687 673,106

18 Analysis of net assets between funds

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

18 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 August 2024:
Tangible assets 4,976 - 4,976
Current assets/(liabilities) 150,063 314,433 464,496
155,039 314,433 469,472
19 Operating lease commitments
2025 2024
£ £
Within one year 8,500 8,500
Between two and five years 18,417 26,917
26,917 35,417

20 Related party transactions

None of the trustees receive any remuneration apart from the Executive Director, who received gross pay of £57,634 (2024 - £57,737) and pension contributions of £3,890 (2024 - £3,658).

Trustee Ailsa Clark is also a Director of Fyne Energy Limited and Kintyre Weigh CIC.. Trustee Tracy Chambers is also a Director of Keeping it local CIC and Preloved2Reloved.

lnspirAlba Ltd received Grant income from Fyne Energy Limited during the year totalling £8,500 (2024 - £8,500). The balance owed by Fyne Energy Limited at the year-end was £Nil (2024 - £Nil).

InspirAlba Ltd was charged £6,042 in respect of wage subsidies for work placements in the period from Keeping it Local CIC.

InspirAlba Ltd was charged £11,768 in respect of wage subsidies for work placements in the period from Preloved2Reloved.

InspirAba Ltd was charged £9,684 in respect of wage subsidies for unemployed participant in the period and £178 for cleaning materials and food stuff for workshops from Kintyre Weigh CIC.

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

21
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
(Decrease)/increase in creditors
Cash generated from operations
22
Analysis of changes in net funds		 2025
2024
£
£
203,634
248,547
(2,956)
(2,472)
74
-
2,887
2,488
(378)
(150,083)
(10,345)
141,861
192,916
240,341		 2025
2024
£
£
203,634
248,547
(2,956)
(2,472)
74
-
2,887
2,488
(378)
(150,083)
(10,345)
141,861
192,916
240,341
240,341

The charity had no material debt during the year.

23 Prior period adjustment

Changes to the balance sheet

At 31 August 2024
As previously
reported
Adjustment
As
£
£
Current assets
Debtors due within one year
91,882
58,201
Capital funds
Income funds
Restricted funds
256,232
58,201
Unrestricted funds
155,039
-
Total equity
411,271
58,201		 restated
£
150,083
314,433
155,039
469,472

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INSPIRALBA LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

23 Prior period adjustment (Continued)
At 31 August 2024
As previously Adjustment As restated
reported
£ £ £
Changes to the profit and loss account
Period ended 31 August 2024
As previously Adjustment As restated
reported
£ £ £
Charitable activities - income 1,380,120 58,201 1,438,321
Net movement in funds 190,346 58,201 248,547

24 Prior period adjustment (continued)

Changes to balance sheet

£58,201 increase to current assets with respect to accrued grant funding receivable in 2024.

Changes to the profit and loss account

£58,201 of restricted grant income received from UK Shared Prosperity with respect to 31 August 2024.

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