COMPANY REGISTRATION NUMBER: SC404186 CHARITY REGISTRATION NUMBER: SC042895 Morayvia Company Limited by Guarantee Unaudited Financial Statements 31 July 2025 RITSONS Chartered Accountants 103 High Street ELGIN Moray IV30 1 EB
Morayvia Company Limited by Guarantee Flnancial Statements Year ended 31 July 2025 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not forni part of the financial statements Detsiled statement of financial activities 21
Morayvia Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 July 2025 The trustees, who a also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 Juty 2025. ReferenGg and administratlve delails Reglstered charity name Morayvia Charity reglstratlon number SC042895 Company reglstration number SC404186 Prlnclpal offic8 and reglstered Morayvia Science and Technology Centre offic8 Norih Road Kinloss IV36 3YA The trustees Mr R Pountney Mr M Mair Mr N Haggar Mr R Main (Resigned 3 March 20251 (Appointed 27 October 20241 Independent examiner Alison Fionda, CA Ritsons Chartered A¢¢ountants 103 High Street ELGIN IV30 1 EB Struclure. govemance and management Morayvia is a company limited by guarantee. incorporated on 26 July 2011 and registered as a charity with the Office of the Scottish Charity Regulator, OSCR on 27 January 2012. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Appolntmenl of trustees At each annual general meeting, the members may elect any memter to be a director, providing helshe is willing to act. The directors may at any time appoint any member to be a director.
Morayvia Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnu•d) Year ended 31 July 2025 Objectives and activities The objectives of the charity as set out in their govèmlng document are as follows: The advancement of arts, heritage, culture and science by creating an aerospace visitor centre in Moray., B. The advancement of citizenship and communty developmentwithin Klnloss. FOrS and wider Moray ommunilies., C. The advancement of prlmary, secondary and higher educa. Achlevgrnonts and performance The financial year 1st August 2024 to 31st July 2025 was another very successful one for Morayvia. Visitor numbers tolalled 9,938. a slight decrease from the previous year but nevertheless a more than satisfactory number lo maintain and ensure the strength of our financial position. The 2024-2025 season saw us remain wth the two day openlng pattem increasing to three days during school holidays. The centre was closed during the months of November to the end of March which is our normal pallem. Our opening times were supplemented by a busy private events programme throughout the season when we hosted a variety of visits from local organisations and clubs at Morayvia as well as going out into the community to support charitable events. Morayvia hosted a Macmillan coffee moming on 28th September 2024 raising a grand total of £1,240.00 with over 150 persons attending. Other nolable charity events include hosting the Highland Scale Model Show in October 2024, Elgin Car Club also in October and The Kinloss Military wives choir in April 2025. The directors decided that enty costs should remain static as they are COnsered sustainable and an attractive pri¢e for families. Our STEM programme continued to develop successfijlly with an increased number of young people from throu9hoL)l Moray attending sessions at Morayvia. The STEM team also delivered Morayvia's prOgraMn to hOolS within Moray. Morayvia's bid for funding to purchase a new van to support its STEM work was successful. The future ffinancial wellbeing of the museum is considered to be very stable with our basic operational costs being covered by our self-generated income (admissions, sales and subscriptions). We rtmain reliant on extemal financial support, mainly grants and donations to tackle any significant costs such as improvements and repairs lo the buil¢Jing, installing more energy saving measures, developing our site to accommodate more exhibits and improving our visitor experience by increasing the variety and number of aviation exhibits and displays at the ntre.
Morayvia Company Llmited by Guarantee Trustees, Annual Report {Incorporatlng the Directofs Report) (¢ontlnued) Year ended 31 July 2025 Flnancial review The lotal income in the year was £180,37312024 - £148,757} and the main sources of funding are donations, sponsorship, membership fees, trading income and grants receivable. Total expenditure amounted to £105,86612024- £91,706). resulting in a surplus for the year of £74.50712024- £57,051). Al 31 Juty 2025 the charity had total reserves of £499,245 {2024 - £424,738). The unrestricted funds amounted to £408.813 12024 £363.4821 and the restricted fvnds amounted to £90,432 12024 £61,256) The directors, policy is to maintsin cash reserves at around 6 months of normal running costs in order to meet commitments and cover any unexpeded expenditure. Cash reserves at the year end were £61.898 and free reserves lur¢restricted cash reserves) were £58,412. If we consider the total yearly unrestricted expenditure less depreciation there are sufficient cash reseeS in place lo meet this poltcy. The directors have assessed the major risks to whh the charitable company is èxposed, and are satisfied that systems a in place to mitigate exposure to the major risks. Plans for future perlods Mor8yvia will continue to work towards achieving accreditation status. The museum accreditation schem8 is the UK standard for museums and galleries and there are currently around 250 accredited museums in Scouand. Museums Galleries Scotland is the assessing organisation for museums in Scodand. To achieve accreditation, a museum musl meet published requlrements on: How it is govemed and managed; How it cares for and manages its collections; The infomiation and services it offers to museum useTS. Achieving accreditation status may help Morayvia to attr* financial support from exlemal sources, show our fitness to receive sponsorship and donations, raise awareness to stakeholders and improve our planning skills. Our long term aim to create a flagship tourist attra¢tion in Moray remains high on Morayvia's agenda. aEthough the limescale for achieving this aim has had to be adjusted in light of the impact of Covid. In the shorter temi. we aim to get as many of our outdoor exhibits under cover lo preserve their longevity and appearance. Small Company provlslons This port has been prepared in accordan with the provisions applicable to companies entitled to the Small companies exemption.
Morayvia Company Llmited by Guaranteè Trustees. Annual Report (Incorporating thè Director's Report) rcontinu•d) Year ended 31 July 2025 The trustees, annual report was approved on .. trustees by". and signed on behalf of the board of Mr M Mair Trustee
Morayvia Company Limlted by Guarantee Independent Examiner's Report to the Trustees of Morayvia Year ended 31 July 2025 I report on the financial statements for the year ended 31 July 2025, which comprise the statement of financial activities (including income and expenditure acwunt), statement of financial position and the related notes. Respoctivo rosponsibilltles of trustees and examlner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordan with the terms of the Charities and Trustee Investment {Scollandl Act 2CM)5 and the Charities Accounts {Scollandl Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10{1lla) to (Gl of the 2006 Accounts Regulations does not apply.11 is my responsibility to examine the accounts as required under section 44(1)(c) of the Act and lo state whether particular matters have come to my attention. Basls of indèpendent examinefs report My examination is carried out in aGcordance wth Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charty and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concernillg any such matters. The procedures undertaken do rt provide all the eviden that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent oxaminefs 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 4411)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prepare accounts which accord with the accounting records and comply wth Regulation 8 of the 20 Accounts Regulations have not been met, or (21 to which, in my opSnlon, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Alison Fionda, CA Ri150ns Chartered Accounlants Independent Examiner 103 High Street ELGIN Moray IV30 1EB of laz126
Morayvia Company Llmited by Guarantee Statement of Financial Activities (includlng income and expenditure account) Year ended 31 July 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted funds Income and endowments Donations and legacies Chantable activities Other trading activities Total income 44,184 89,389 46,800 90,984 89,389 65,161 82,381 1,215 148,757 133,573 46,800 180,373 Exponditure Expenditure on charttable actlvlties Total expenditurg 88,242 17,624 105,866 105,866 91,706 91,7C6 88,242 17,624 Net income and nel movement In funds 45.331 29,176 74,507 57,051 Reconclllation of fvnds Total funds brought forward Total funds carried forward 363.482 408,813 61,256 90,432 424,738 367,687 424,738 499,245 The statement of financial activities includes all gains and losses recognised in the year. All incoTh and expenditure deriv8 from continuing actNities. T notes on p•ges 9 to 19 form part of these ftnanclal statements.
Morayvia Company Limlled by Guaranlee Statement of Financial Posltlon 31 July 2025 2025 2024 Flxed assets Tangible fixed assets Heritage assets 14 15 282,561 150,755 233,272 137.215 370,487 433,316 stocks Debtors Cash at bank and in hand 16 17 9,266 749 61,898 71,913 9,206 1,507 49,575 60,288 Cr¢dStors: amounls falling due withln one year Nat current assets 18 5.984 65,929 499,245 499.245 6,037 54,251 Total assets18ss current liabilitles 424,738 424,738 Net assets Funds of the charlty Restricted funds Unrestricted funds 90,432 408,813 61,256 363,482 Total charity funds 19 499,245 424,738 For the year ending 31 July 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2(X)6 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of rts financial statements for the year in question in x¢ordance wf(h section 476- The directors acknowledge thelr responsibilities forcomplying with the requirement5 of the Act with respect to accounting records and the prePatiOn of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. Th• notes on pages 9 to 19 fomi part of these fin•nelal stat8monts.
Morayvia Cotnpany Limited by Guarantee Statoment of Financial Positlon rconllnu•dJ 31 July 2025 These nancial statements were approved by the board of trustees and aulhorised for issue on 20.&6 , and are signed on behalf of the board by.. Mr M Mair Trustee The notes on paggs 9 to 19 fomi part oftse Ilnanclat SL•M8nts.
Morayvia Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2025 General infonnatlon The charity is a public benefit entity and a private company1Smited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is Morayvia Science and Technology Centre, North Ro&J, Kinloss, Moray, IV36 3YA. Slatement of Compllance These financial statemnts have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the LIK and the Republic of Ireland,, the Statement ol Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republ of Ireland (FRS 1021 (Charities SORP IFRS 102}l and the Companies Act 2006. Accountlng policieg Basis of prèparation The financial slatetTEnts have been prepared on the historical cost basis. as modified by the valuation of certain financial assets and liabilities and investment properties measred at fair value through income or expenditure. The financial statements are prepared in sterling, whi¢h is the functional currency of the entity. Golng concern At the time of approving the accounts, the directors have a reasonable expectation that the charitable company has adequate resources to continue in operalional existen for al least the next 12 months and the trustees have not identified any material uncertainties with regards to the abllity of the Charity to continue. Thus the diwtors continue to adopt the going conrn basis of accounting in preparlng the accounts. Judgements and key souiGas of &stimatlon uncertainty The directors consider that there are no judgements. estimates and underlying assumptions which have a significant risk of causing a material adjustment lo the Carrying amount of assets and Fund accounting Unreslri¢led fijnds atB available ft)r use at the discretion of the directors in furtherance of the charity's objectives unless the funds have been designated for other purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through temis of an appeal. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Morayvia Company Limited by Guarantee Notes to the Flnancial Statements l¢onUnu8d) Year ended 31 July 2025 Accounting policies (Gondnu Incoming resourGgs All income is included in the statement of ffinancial activities when entitlement has passed lo the chartty, it is probable that the economic benefrts associated with the transalon will flow lo the chartty and the amount can be reliably measured. The following specific policies are appld 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 measu reliably. income from trading activities includes income earned from fundTrising events and trading activities to raise funds for the charity and is recognised with the delivery of the contracted service. This is classified as unreslricled funds unles5 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 restrted. Résources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fvlly recovered, and is dassified under headings of the statement of financial actNities to which it relates.. expenditu on raising funds includes Ihe 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 charty in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, including those support costs and costs relaling to the goveman¢e of the charity apportb)ned to charitable activities. other expenditure Includes 811 expenditure that is neither related lo raising fijnds for the charlty nor part of its expenditure on char¢table activities. All costs are allocated lo expenditure categories reflecting the u$e of the resoLtrce. Direct costs attributable to a single activty are allocated directty to that activity. shar costs are apporboned between the activities they contrlbuts to on a reasonable, justifiable and ¢onsistsnl basis. Tangibl& assets Tangible assets are initialty recorded atcost, and sub$equenly stated atcost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at th8 date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. An increase in the carrylng amount of an asset as a su 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 finantial activities, A decrease in the carying 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 showr¢ within other wognised gains and losses on the statement of financial activities. 10
Morayvia Company Limited by Guarantee Notes to the Flnancial Statements (¢onVnued) Year ended 31 July 2025 Accountlng policies (¢ontlnu•dJ Depreciation Depreciation is calculated so as to write off the eost or valuation of an asset. less its resldual value, over the useful economic life of that asset as follows.. Leasehold improvements Plant and machinery Motor vehicles Computers 50kn straight line 20Qfi straight line 25Qh reducing balance 20.fi straight line Hgrltage assgts The heritage assets have been capf(alised al actual cost or deemed cost with consideration to market value. They represent assets of importance which are held to advance the objeclives of the charity. No depreciation is charged on heritable assets as the directors consider that due to Ihe impact of residual values, any resulting depreciats'on would be immaterial. Impalmient of flxed assets A review for indicators of impaimient is carried out al 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 impaimients are also reviewed for possible reversal at each reporting date. Stocks stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incutyed in bringing the stock to its FKesent lorAtion and condition. Financial instrurnonts A financial asset or a fin2nci81 liability is recognised only when the entity becomes a paty lo the contractual provisions of the instrument. Basic financial instruments are inits'ally recognised at the arTh)unt ¢Eceivable or payable including any related transaction costs, unle$s the arrangement conslitutes 8 financing transadion, where it is recognised at the present value of the future payments dIounted at a market rate of interest for a similar debt instrument. Cuent assets and current liabilthes are subsequenlty measured al the Cash or other consideration expected k) be paid received and not discounted. Limited by guarant00 The company Is limlted by guarantee and does not have share capital. 11
Morayvia Company Limited by Guarantoe Notes to the Flnanclal Statements (continuéd) Year ended 31 July 2025 Donations and legacias Unrestricted Funds Restrfcted Total Funds Funds 2025 Donations Donations and sponsorship Donation of goods 2.248 40,000 2,248 40.000 Grants Other geneTrl grants 46,800 46,800 Subscriptlons Membership fees 1,936 44,184 1.9 90.984 46,800 Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations and sponsorship Donation of goods 5,008 1,086 6,094 Grants Other general grants 56.200 58.2IXJ Subscriptions Membership fees 2,867 7,875 2,867 65,161 57.286 Charltabl8 activitios Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Visitor centre 89,389 89,389 82,381 82,381 Othèr trading actlvltles Unrestricted Total Funds Unrestiioted Total Funds Funds 2025 Funds 2024 Other in¢ome 1.215 1,215 12
Morayvla Company Llmited by Guarantee Notes to the Financial Statements (conttnuod) Year ended 31 July 2025 Expendlture on Charitable actlvities by fund typ• Unrestricted Funds Restricted Total Funds Funds 2025 Visitor centre Support costs 10,796 77,446 88.242 10,7 95,070 105,866 17,624 17,624 Unrestricted Funds Restricted Total Funds Funds 2024 Visitor centre Support costs 7,891 69.447 7,891 83,815 14,368 77.338 14,368 91,7C6 Expenditur• on charllablo activiti¢$ by actlvity type Activities undertaken dIreY Support Total funds costs 2025 Total fund 2024 Visitor centre Governance cosls 10.796 91,191 3,879 95,070 101,987 3,879 87,835 3,871 10.796 105,866 91,706 10. Analysls of support cosls Support Govemance costs costs 2025 2024 Depreciation Insurance Heat and light Printing, postage, telephone and stationery Repairs and maintenance Sundry & Oonations Vehicle and travel expenses Rent and rates Accountancy 39,982 7,908 9,526 39.982 7,gD8 9,526 23,020 7,197 18,213 1.567 1,567 1,041 11,360 17,285 11,360 17,885 11,444 16,484 2,363 1,200 2,363 1,200 3,879 3,345 1,200 3,871 3,879 91,191 3,879 95,670 83,815 13
Morayvia Company Limited by Guarantee Notes to the Financial Ststements {eoniinu•d) Year ended 31 July 2025 11. Net incom8 Nel income is stated after charglngl(crediting}- 2025 2024 Depreciation of tangible fixed assets 39,982 23.020 12. Independent examinatlon fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements Other assuran seNices 3,695 185 3,518 353 3,880 3,871 13. TTUStee romun¢ratlon and oxpen$gS None of the directors {or any persons connected with them) reiVed any muneration or benefits during the current or prior y8ar. However. directors have been relmbursed for purchases. poslage and repairs incurred totalling £NIL12024- £879). 14. Tanglble Ilxed assets Leasehold Plant and improveThnts machinery Motor vehicles Equipment Total Al 1 August 2024 Addilions 265,518 74.456 42.471 116.927 26,630 46,800 73,430 4,834 371,436 89,271 At 31 July 2025 Depreclation At 1 August 2024 Charge for the year At 31 July 2025 Carrying amount At 31 July 2025 At 31 July 2024 265,516 4,834 460,707 52,496 13,276 58,294 13,414 24,131 12,325 3,243 967 138,164 39,982 65,772 71,708 36,456 4,210 178,146 199,744 45.219 16,162 36,974 2,499 624 282.561 233,272 213,020 1,591 15. Herltsgo a550ts Heritage Assets held by the Charity consist of various aircraft and other relaled items which are on display at the business premises. 14
Morayvia Company Limited by Guarantee Note5 to the Flnancial Statements (cotrflnued) Year ended 31 July 2025 15. Herltsge assèts (ntInued) Herttage asset I Cost or valuation At 1 August 2024 Additions 137,215 13,540 150,755 At 31 July 2025 Accumulat9d dapreciatlon At 1 August 2024 and 31 July 2025 Carrylng amount At 31 July 2025 At 31 July 2024 150,755 137,215 Acquisition of ffxed assets such as heritage display items exceeding £2,000 is normally to be by agreement of the directors, and where possible at a directors meeting. ExpIlOn?1Iy, the Chairman and his deputy are empowered to make purchases of display items provided they have secured a Sour of funding lo cover, or the deposit required to secure, such a purchase. They are to inform the tard at the earliest opportunity when such agreements have been entered into. Authority for the acquisition of heritage display items of tess than £2,000 is delegated to the Vi Chairman, who is to infomi the board of such purchases at the earliest opportunity- Heritage assets may only k disposed of by agreement of the directors, where possible al a directors, meeting. Proceeds from any sales are to be relumed to the company's bank account, ideally by direct transfer. Where disposal of assets is by means of an exch3T)ge, the ChaimTrn and his deputy are empowered to make such decisions where it can be demonstrated lo be in the interests of the charitable company. Heritage items are to b8 maintained in 8 mannerwhich minimises deterioration, and, ideally. should be housed in conditions conducive to their preservation. The VI-chairMan ts responsible for implerrEnting a systern of husbanclry and maintenance for aircraft and related support equipment items. Summary of transaclions 2025 2024 Included in the statement of financial posltlon Purchases Total additions 13.540 13,540 16. StoGks 2025 2024 Finished goods and goods for resale 5,206 15
Morayvia Company Limitsd by Guarantee Notes to the Financial Slatements (conthiuedj Year ended 31 July 2025 17. Debtors 2025 2024 Prepayments and accwed income Other debtors 758 749 749 749 1,507 18. Cr•ditors- amounts la151ng due within one year 2025 2024 Accruals and deferred income other creditors Other creditors- Mr Mair 3,969 255 1,760 5,984 4,022 255 1,760 6,037 19. Analysis of charitable funds Unr•$trict6d funds At 1 August 2024 Al 31 July 2025 Income Expenditure Transfers General funds 363,482 133,573 (88,2421 408,813 At 1 August 2023 At 31 July 2024 Income Expenditure Transfers General fvnds 351,593 91,471 177,3381 {2,244} 363,482 16
Morayvla Company Limited by Guarantee Notes to the Flnancial Statements (contlnu8dJ Year ended 31 July 2025 19. Analysls of chaiitsblè funds (contlnu8d) Restricted funds At 1 August 2024 At 31 Juty 2025 Income Expenditure Transfers Sea Prince Fund HIE Development Manager Fund Wide Format Printer Fund TSI - Solar panels Tsi - Electricty bill relief Tsi - Sust8inable infrastructure Upgrades Tsi - R¢)of repair and infrastwcture restoration BARG- VVhirlnd project Just Transition 2,400 2,400 10,270 47,500 13,4241 12,5001 45,000 1,086 1,086 35.ICK) 46,800 111,7001 117,6241 61,256 46,800 90.432 At 1 August 2023 At 31 July 2024 Income ExK*nditure Transfers Sea Prince Fund HIE Development Manager Fund de Format Printer Fund TSI - Solar panels TSi- Electricty bill relief TSi- Sustainable infrastructure Upgrades TSi- Roof repair and infrastructure $torali0n BARG - Vvhirlwind project Just Transition 2,400 2,400 12,244) 2.244 13,694 13,424) 12,5001 12,8001 10.270 47,500 SO,DOO 2,800 1,400 11,4aoi 2,000 12,000) 1,086 1,086 16,094 57,286 114,3681 2,244 61.256 17
Morayvia Company Llmited by Guarantee Notes to the Financlal Statements {coFAlTrugd) Year ended 31 July 2025 19. Analysis of charitsble funds (conttnuedj The Sea Prin¢e project fund represents donatlons received to be spent on acquiring a Se8 Princè in the fvlure. The HIE and Beatrice Partnership Development Manager Fund represents funding for a development manager. Funding is released quarterty and wages are paid using the funding as it is re¢eived. Repayment of advance salary clalm In the year. The Wide Fomial Printer Fund represents funding received to purchase a wide fomxt printer. expenditure relates to the restricted deprecation. Tsi Solar panel grant was received to purchase and install solar panels on the building, this was completed within the year. Tsi Electricity bill relief was received to supportthe thartty with their electricity expenses. The grant was fvlly spent in the year. Tsi Sustainable infrastruelure upgrades grant receDied to pay towards the purchase of LED lights. The grant was fully spent in the year. Tsi Roof repair and infrastructure restoration grant received to help pay for the expenses relating to the roof leak damages. The grant was fully spent in Ihe year. BARG Whirlwind project grant was received for the restoration of the whir1nd Just Transition on behalf of tsimoray grant was received for the purchase of a new van. The granl was spent in the year. 20. Analysls of net assets betwegn funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Heritage assets Current assels Creditors W than 1 year Net assets 195.615 150,755 68,427 (5,984) 408,813 86,946 282.561 150.755 71.913 5,984} 499.245 3,486 90,432 Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Heritage assels Current assets Creditors less than 1 year Net assets 175,502 137,215 56.802 {8,037) 363,482 57,770 233,272 137,215 60.288 (6,037) 424,738 3,486 61,256 18
Morayvia Company Limited by Guarantee Notes to the Financial Statements {¢onllnu¢dJ Year ended 31 July 2025 21. Volunteers The skills and expertise that volunteers contribute to Morayvia are wlde ranging. Throughout the year, volunteers meet at Morayvia every Monday and Thursday to carry out renovation, reslDration and maintenance work. From April to October each year, when open to the public, volunteers whose expertise lies irs retail work and acting as guides attend each Saturday and Sunday. Engineering, retail xtwities, visitor guiding. gardening, janitorial and building maintenance, Painting, plumbing and joinery are the main skills that volunteers bring to Morayvia. 19
Morayvia Company Limlted by Guarantee Management Informatlon Year ended 31 July 2025 The following pages do not form part of the flnanclal statements.
Morayvia Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 July 2025 2025 2024 In¢ome and endowments Donatlons and legacies Donations and sponsorship Donation of goods other general grants Membership fees 2,248 40,000 46,800 1,936 6.094 56,200 2,867 90,984 65.161 Charltable actlvllles Visitor centre 89,389 82,381 Other Iradlng actlvltles other income 1,215 Total income 180,373 148,757 Expgnditure Expenditure on charitablg actlvities Opèning stock Purchases Closing stock Rent LwJht and heat Repair5 and maintenance Insurance Motor vehiele expenses other motornravel costs Legal and professional fees Telephone DepCIation Subscriptions Sundry 9,206 10,856 9,266 1.200 9,526 11,360 7,908 2,363 8,722 8,375 9,206 1,200 16,213 11,444 7,197 2,973 372 3,871 1,041 23,020 1,298 15,186 3,879 1,567 39,982 758 16,527 105,866 91,706 Total expendlture 105,866 91,706 Net Income 74,507 57.051 21