REGISTERED CHARITY NUMBER: 041335
Report of the Trustees and
Unaudited Financial Statements For The Year Ended 31st March 2025
for
CASTLE ROY TRUST SCIO
CASTLE ROY TRUST SCIO
ontents of the Financial Statements For The Year Ended 31st March 2025
| Page | ||
|---|---|---|
| Report of the Trustees | to | 3 |
| Independent Examiners Report | 4 | |
| Statement of FinancialActivities | 5 | |
| Balance Sheet | 6 | |
| Notes to the Financial Statements | 7to | 11 |
| Detailed Statement of Financial Activities | 12 to | 13 |
CASTLE ROY TRUST SCIO
Report of the Trustees For The Year Ended 31st March 2025
The trustees present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities Objectives and aims
The Trust's objectives were to consolidate the 12th century Castle Roy situated on the outskirts of the village of Nethy Bridge and reported to be the oldest masonry fortification in Scotland.
Under the supervision of Historic Environment Scotland, the full consolidation was completed creating a free 'all-abilities' visitor attraction and community outdoor performance centre for such events as theatre, Gaelic recitals, music festivals, weddings and Clan Gatherings.
Achievements and performance
Overview
This year we were pleased to secure a successful grant of £6,027 from the Caimgonns Trust, which has enabled Castle Roy Trust to make several important improvements. The funding supported the purchase of professional equipment for maintaining the site, a people counter to help us better understand visitor numbers, four new interpretation panels, and additional donation boxes. The interpretation panels were developed in collaboration with local organisations, including Speyside Fields for Wildlife, who generously contributed £200 towards the cost of their panel.
A particularly sad event during the year was the loss of our much-loved Highland cow, Murdo, along with his companion sheep, Buster. Their presence had become a well-known and much-enjoyed feature at Castle Roy, and their absence has resulted in a noticeable drop in income from passing visitors. Several of Murdo's regular supporters cancelled their subscriptions following his death, although a number have kindly continued their contributions in support of the wider work of the Trust. While we are actively seeking a suitable replacement for the summer months, it has become clear that overwintering livestock is not feasible for our volunteer team.
Despite this loss, we have continued to receive steady support through donations, particularly from our Square Yard Certificate scheme. It is heartening to see some supporters returning to acquire certificates as gifts for friends and family.
In more positive news, we celebrated Murdo's 10th birthday with a well-attended and warmly received open day. The event attracted visitors from both the local community and further afield and served as a welcome opportunity to bring people together at the castle.
Castle Roy Trust also continued its presence at regional events, including the Nethy Bridge Spring Gathering, the Abernethy Highland Games, and the annual Doors Open Days festival in the autumn, helping to raise awareness of the castle and our ongoing conservation work.
On behalf of the Trust, I would like to extend my sincere thanks to all our Trustees, whose guidance and dedication continue to be vital to our success. I am also deeply grateful to our team of volunteers, without whom much of what we do would not be possible. A special word of thanks goes to our bookkeeper, whose diligence and care ensure our financial records are accurate and up to date, making an essential contribution to our overall governance and accountability.
We remain grateful to all our supporters, donors, and friends of Castle Roy who help us continue to care for this historic site and share its story with the public.
Financial review
Financial position
A detailed financial breakdown of the Trust's income and expenditure for the period to date is contained in the attached accounts.
Page I
CASTLE ROY TRUST SCIO
Report of the Trustees For The Year Ended 31st March 2025
Financial review
Reserves policy
Under the Trust Deed the Trustees must ensure that all funds are applied towards achieving the objectives of the Trust.
The Trust always ensures that there are sufficient funds to cover it's financial commitments and any insurance requirements.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The original was a Deed of Trust dated 7th May 1998. Permission was sought from OSCR to become a SCIO which was granted as a legal entity on the 13th March 2013.
Recruitment and appointment of new trustees
Trustees were appointed on the creation of the Trust - SCIO - to serve for an unlimited period. Trustees may be appointed, or resign, as appropriate, at any constituted meeting.
Organisational structure
The Trust is managed by the Trustees appointed on or after the creation of the Trust SCIO, to meet with the legal requirements.
Responsibility for finance is delegated to the Bookkeeper, under the management of the Chainnan, who reports regularly to the Trustees.
Responsibility for the day to day running of the Trust is also undertaken by the Chairman who reports regularly to the Trustees. The administrative office for the whole of the financial period remains: Croftbank, Nethy Bridge, Inverness-Shire, PH25 3DS.
Risk management
The Trustees have a duty to identify and review the risks to which the charity may be exposed and to ensure appropriate controls are in place:
Fraud. To provide reasonable assurance against fraud, two Trustees must agree any expenditure (Sect 8) and sign all cheques.
Liability. The Trust has good 3rd party liability insurance, which continues to be provided by Zurich.
Reference and administrative details
Registered Charity number
041335
Page 2
C'ASH r ROY TRI I.ii( JO
Rcpun of the Tiu. � forThi: Y,:ar 1.nJa!.'l , � , Man:h 2015
Rtrerentt Hd •chnlllillnaf:ive dmll � lndq,endrnl Eum1otr ( ,11IJ, � -c11, I � -17 llip.h Mn.:el Kin12u!i..ic In, crm. � 3,.,-Shirc r1121 I\IS Solkllon R & R l'rquhW1 117-121 llif!h Street Forres IV36 IAB
Baakers Co-operative Business Bank PO Box 2S0 Skclmersdale WN86WT
Condasion
The Trustees wish to express their appreciation of the support and generosity which the Castle Roy Trust rccmes from it1 funders. supporters and donors.
Approved by order of the board of trustees on . . . � . ..N � .. � [and signed on i1s behalf by:
Page3
Independent Examiner's Report to the Trustees of Castle Roy Trust SCIO
I report on the accounts for the year ended 31st March 2025 set out on pages five to eleven.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the harities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation l0(l)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(l)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was catTied out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently l do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention :
- (1) which gives me reasonable cause to believe that in any material respect, the requirements
to keep accounting records in accordance with Section 44( I )(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date: .......
Page4
CASTLE ROY TRUST SCIO
Statement of Financial Activities For The Year Ended 31st March 2025
| Unrestricted fund Notes £ Income and endowments from Donations and legacies 2 Other trading activities 3 Total Expenditure on Charitable activities Renovation costs Support costs Total NET INCOME Reconciliation of funds Total funds brought forward Total funds carried forward |
2025 2024 Restricted Total Total fund funds funds £ £ £ 14,982 14,982 8,625 695 695 1,241 15,677 15,677 9,866 1,721 1,721 2,827 5,131 5,131 4,013 6,852 6,852 6,840 8,825 8,825 3,026 225,028 225.028 222,002 233,853 233,853 225,028 |
|---|---|
The notes form part of these financial statements
Page 5
CASTLF. ROY TRUST SCIO
Balance Sheet 31st M � h 202$
| Notes fufdalll !ts Tangil,lc a..�ts s Current assets Debtors 6 Cashatbank Cftditon Amounts falling due within oneyear 7 Net tlffftllt assets Total assets less mrrentliabilities Cmliton Amounts falling due aftermorethanoneyear NET ASSETS Faads Restrictedfunds 10 Totalfunds |
Unn:11rictcd fund £ |
Restricted fund £ 299,542 1,335 3,674 |
Restricted fund £ 299,542 1,335 3,674 |
202.5 2024 Total fondi £ Total funds £ 299,542 295.774 1,335 848 3,67-4 1.579 .5,009 2.427 (68,069) (68.51'3) (63,060) (66.156) 236,482 229,618 (2,629) (4.590) 233,853 225,o28 233,853 22.5,028 233,853 22.5,028 |
|---|---|---|---|---|
| S,009 (68,069) |
.5,009 (68,069) |
|||
| (63,060) 236,432 {2,629) |
||||
| 233,8.53 | ||||
The fmanciat statements were approved by the Board of Trustees and authorised for issue on ... � --- �� .. A..S.. and wen: signed on its behalf by:
The notes fonn part of these financial statements
Pagc6
CASTLE ROY TRUST SCIO
Notes to the Financial Statements
For The Year Ended 31st March 2025
I. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Tru tee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Freehold property in accordance with the property - Plant and machinery 15% on reducing balance Computer equipment - 10% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 7
CASTLE ROY TRUST SCIO
Notes to the Financial Statements - continued For The Year Ended 31st March 2025
2. Donations and legacies
| 2. | Donationsandlegacies | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Donations | 7,698 | 6,967 | |
| Giftaid | 1,241 | 1,652 | |
| Grants | 6,027 | ||
| Bank interest | 16 | 6 | |
| 14,982 | 8,625 | ||
| Grantsreceived, included in the above, are as follows: | |||
| 2025 | 2024 | ||
| £ | £ | ||
| CaimgorrnsNational Park Authority | 6,027 | ||
| 3. | Othertrading activities | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Land sales | 695 | 741 | |
| Misc income | 500 | ||
| =695 | =1,241 |
4. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.
Page 8
continued...
CASTLE ROY TRUST SCIO
Notes to the Financial Statements - continued For The Year Ended 31st March 2025
5. Tangible fixed assets
| Cost _At_l st April 2024 Additions At 31stMarch2025 Depreciation At 1st April2024 Chargeforyear At31stMarch2025 Net bookvalue At 3Ist March 2025 At 3Ist March 2024 6. Debtors: amounts falling duewithinoneyear Trade debtors Prepayments 7. Creditors: amountsfallingdue within one year Tradecreditors Othercreditors |
Freehold property £ 294,480 294,480 |
Plantand Computer machinery £ equipment £ 2,515 1,428 4,811 7,326 1,428 |
Plantand Computer machinery £ equipment £ 2,515 1,428 4,811 7,326 1,428 |
Totals £ 298,423 4,811 |
|
|---|---|---|---|---|---|
| 303,234 2,649 1,043 |
|||||
| 1,505 900 |
1,144 143 1,287 |
||||
| 2,405 | 3,692 299,542 295,774 2024 £ 848 848 2024 £ 545 68,038 =68,583 |
||||
| 294,480 294,480 |
4,921 | ||||
| 1,010 |
continued...
Page 9
CASTLE ROY TRUST SCIO
Notes to the Financial Statements - continued For The Year Ended 3 I st March 2025
| 8. Creditors: amounts falling due after more than one year Bank loans (see note 9) 9. Loans An analysis ofthematurity ofloans is given below: Amounts falling between one andtwoyears: Bank loans - 1- 5years 10. Movement in funds Restricted funds Restricted TOTAL FUNDS Net movement in funds,included inthe above are as follows: Restricted funds Restricted TOTAL FUNDS |
2025 £ 2024 £ 2,629 =4,590 2025 £ 2024 £ 2,629 Net movement At At1.4.24 infunds 31.3.25 £ £ £ 225,028 8,825 233,853 225,028 8,825 233,853 Incoming Resources Movement resources £ expended £ in funds £ 15,677 (6,852) 8,825 � (6,852) � |
|---|---|
continued...
Page 10
CASTLE ROY TRUST SCIO
Notes to the Financial Statements - continued For The Year Ended 31st March 2025
11. Related party disclosures
There were no related party transactions for the year ended 31st March 2025.
Page l l
CASTLE ROY TRUST SCIO
Detailed Statement of Financial Activities For The Year Ended 31st March 2025
| Detailed StatementofFinancialActivities For The Year Ended31stMarch 2025 |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 7,698 | 6,967 |
| Giftaid | 1,241 | 1,652 |
| Grants | 6,027 | |
| Bank interest | 16 | 6 |
| 14,982 | 8,625 | |
| Other trading activities | ||
| Landsales | 695 | 741 |
| Misc income | 500 | |
| 695 | --1.di! | |
| Total incoming resources | 15,677 | 9,866 |
| Expenditure | ||
| Charitable activities | ||
| Repairs and maintenance | 366 | 2,692 |
| Fundraisingex.penses | 94 | 135 |
| Interpretation | 360 | |
| Plant and machinery depreciation | 900 | 178 |
| Computer equipmentdepreciation | 143 | 143 |
| 1,863 | 3,148 | |
| Support costs | ||
| Management | ||
| Insurance | 393 | 279 |
| Lightandheat | 313 | 74 |
| Officeexpenses | 4 | 61 |
| Advertising | 1,132 | 861 |
| Sundries | 8 | |
| Bookkeeping | 613 | 378 |
| Subscriptions | 60 | 133 |
| Travel and meetingexpenses | 140 | 140 |
| Repairs and maintenance | 1,222 | 138 |
| Livestock costs | 346 | 621 |
| Interest on loan | 93 | 138 |
| 4,365 | 2,823 |
This page does not fonn part of the statutory financial statements
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CASTLE ROY TRUST SCIO
Detailed Statement of Financial Activities For The Year Ended 31st March 2025
| Detailed Statement of FinancialActivities For The YearEnded 31st March 2025 |
|||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Management | |||
| Finance | |||
| Postageandstationery | 52 | ||
| Bank charges | 30 | 31 | |
| 82 | 31 | ||
| Governancecosts | |||
| Accountancy andlegalfees | 542 | 838 | |
| Totalresources expended | 6,852 | 6,840 | |
| Net income | 8,825 | 3,026 |
This page does not form part of the statutory financial statements
Page 13