2025-06-30-accounts

COMPANY REGISTRATION NUMBER: SC401019 CHARITY REGISTRATION NUMBER: SC043587

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Unaudited Financial Statements

30 June 2025

RITSONS Chartered Accountants Forbes House 36 Huntly Street Inverness IV3 5PR

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Financial Statements

Year ended 30 June 2025

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	5
Statement offinancial activities (including income and
expenditure account)	7
Statement offinancial position	8
Notestothefinancialstatements	9

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 30 June 2025

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charitable company for the year ended 30 June 2025.

Reference and administrative details

Registered charity name Kyle of Sutherland Development Trust Charity registration number $C043587 Company registration number SC401019 Principal office and registered The Barn office Drovers Square Ardgay Sutherland IV24 3AL

The trustees

P C Campbell A J Wright Prof. N P Simco (Resigned 14 July 2025) S M Sanmartin Dr J M Foggin (Resigned 11 March 2026) M C Turner W S Lockyer (Appointed 24 July 2025) Key management personnel D G Watson K Raven (Resigned 31 May 2025) Company secretary D G Watson Independent examiner Gemma Palombo MA (Hons), CA Forbes House 36 Huntly Street Inverness IV3 5PR

Structure, governance and management

Kyle of Sutherland Development Trust is a charitable company, limited by guarantee, which was incorporated on 6 June 2011. The company was established under its Articles of Association which established the objects and powers of the company together with its principles of governance. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

The company was recognised as a charity with effect from 23 November 2012.

24

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continue)

Year ended 30 June 2025

Trustees

The names of the persons who served as trustees during the year and up to the date of this report are listed in this report. The Articles of Association allow for a maximum of eight trustees and a minimum of four. The charity is administered by the board of trustees who meet on a quarterly basis. Day to day running of the company is carried out by paid staff. Trustees are not remunerated for their work.

There are policies and procedures in place for new trustees to review and the Trust manager carries out an induction with new trustees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Objectives and activities

The company was formed to benefit the community of Ardgay and Creich districts, comprising the areas represented by the Creich Community Council and the Argay & District Community Council ("the Community - thereafter referred to as the Kyle of Sutherland") with the following objects:

• e to provide recreational facilities or organise recreational activities;

• e to advance education;

• e to advance the arts and/or culture;

• e to prevent or relieve poverty;

• e to advance environmental protection and improvement;

• e to advance community development through the promotion of tourism, trade and industry;

• to advance transport infrastructures;

• e to relieve those in need by reason of unemployment;

• to relieve those in need by promoting training;

• e to help young people to develop their physical, mental and spiritual capacities;

• e to advance heritage and preserve the historical, architectural and constructional heritage;

• e to advance the health of the residents;

e to relieve the needs of people who suffer from mental and/or physical disability illness or impairment;

• e to encourage, stimulate and support volunteering;

e to promote, establish, operate and/or support other similar schemes and projects of a charitable nature;

• e to advance community development.

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continuea)

Year ended 30 June 2025

Achievements and performance

Over the past few years KoSDT has been facing significant challenges to cover core cost requirements arising from: sale of Falls of Shin with expected income failing to materialise, increase in overheads, difficulty to secure long-term core funding, reduced rental income from business and desk-rental since after Covid many choose to work from home, spike on the price of utilities and maintenance costs. The knock-on effect of that is, of course, that a lot of effort is directed at seeking and applying for core funds to maintain the integrity of the Trust's activities rather than the development of new project work which could materialise if the Trust's efforts and financial obligations were not so focused on core funding rather than development funding.

Unfortunately, this situation has not got any easier and we now find ourselves increasing our efforts at attracting essential core funding and, at the same time, reduce our overheads. To that effect, among other measures, the Office Manager post was not replaced when the employee left and the funding of the Kyle Chronicle magazine stopped. The Trustees are highly aware that this sort of activity can be self-limiting. This is especially apparent in an organisation like the Trust that has limited commercial opportunities and has to rely upon grant funds to cover its core management costs.

This has led the Trust to work with support organisations such as the Development Trusts Association Scotland and Highlands & Islands Enterprise to get advice and guidance on how to improve governance and resilience whilst at the same time maintain our valued service provision. This work will be ongoing but will lead to improved efficiencies and management practices in the future.

Development Trusts require the support of the community in which they exist to enable them to deliver useful and much needed social, environmental and economic development projects. This refers to financial, physical, moral and cooperative support. In this increasingly complex and competitive environment of third sector funding, there is little future within our vulnerable communities for local Trusts, Community Councils, Community Benefit Funding Panels and other local organisations to operate without their common agendas being aligned to benefit the entire community.

In the coming financial year KoSDT will launch a new 5-Year Strategic Plan upon which to base its future work. The plan is informed by the existing plans and strategies produced over the past few years. Seeking regular feedback from the community will ensure that the plan remains a live document that can be reviewed to reflect opportunities and challenges.

KoSDT funded on-going projects continue to flourish, deliver their aims and, in some cases, become independent. They grow and develop as time progresses and, hopefully, will be strongly positioned to be in line for new funding rounds as and when those needs and opportunities arise.

The Trustees continue to be extremely grateful to our volunteers as well as the staff who work and support the endeavours of the Trust and its ambitions. Without their loyalty, support and considerable effort the Trust would have little purpose.

We are looking forward to a better future in our community. We strongly believe in cooperation between community organisations as well as open and fair decision making, all with the common good of the Kyle of Sutherland community and its residents as the primary driver.

The Trustees sincerely hope that in the coming years the Kyle of Sutherland will be cooperatively striving towards a fairer and more sustainable footing with the common objective of creating a yet more wonderful, caring and prosperous place for our population, young and old, to live and work.

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continueg)

Year ended 30 June 2025

Financial review

The charity generated a deficit for the year of £92,309 (2024 - £414,623): of which there is a deficit of £40,177 (surplus of £21,503) in unrestricted and a deficit of £52,132 (2024 - £436,126) in restricted. This is after a non-cash depreciation charge of £42,615 (2024 - £38,362) and the repayment of a grant of Enil (2024 - £264,510) relating to the sale of the premises at Falls of Shin.

Total unrestricted funds at the year end amount to £57,364 (2024 - £97,116). The charity also holds restricted funds at the year end amounting to £986,967 (2024 - £1,039,525). Restricted funds comprise funds advanced for a specific purpose.

The total unrestricted funds of £57,364 (2024 - £97,116) includes fixed assets of £16,945 (2024 - £19,426) and designated funds of £nil (2024 - £1,414) leaving free reserves of £40,419 (2024 - £76,276).

It is the policy of the charity that free reserves, which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise committed, should be maintained at a level equivalent to three months unrestricted expenditure. Unrestricted expenditure for the year was £170,042 (2024 - £223,285). Three months of the total expenditure is estimated at £42,510 (2024 - £55,821) which is below the free reserves in the previous paragraph.

Plans for future periods

As mentioned in the Chair's Report, the Trust will continue to tackle social issues that stem from poverty and the poor service provision that is common in remote rural areas. These will include developing or enhancing projects that tackle issues such as isolation, food and fuel poverty, health and wellbeing etc.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

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The trustees' annual report was approved on 30/3/26... and signed on behalf of the board of
trustees by:
P C Campbell |
Trustee
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24s

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Kyle of Sutherland Development Trust

Year ended 30 June 2025

| report to the trustees on my examination of the financial statements of Kyle of Sutherland Development Trust (‘the charitable company’) for the year ended 30 June 2025.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charitable company's accounts carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination | have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Independent examiner's statement

Since the charitable company is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). | can confirm that | am qualified to undertake the examination because | am a registered member of ICAS which is one ofthe listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or

2. the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination: or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Kyle of Sutherland Development Trust (continuea)

Year ended 30 June 2025

Other matters

To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the charities’ trustees as a body, for our work, for the report, or for the opinions | have formed.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Gemma Palombo MA (Hons), CA Independent Examiner

Forbes House 36 Huntly Street Inverness V3 5PR 30/3 /2026

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 30 June 2025

			2025		2024
		Unrestricted	Restricted
		funds	funds	Totalfunds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	65,909	230,417	296,326	9,924
Charitable activities	6	63,068	-	63,068	446,612
Investment income	7	888	-	888	1,422
Total income		129,865	230,417	360,282	457,958
Expenditure
Expenditure on charitable activities Other expenditure	8,9 10	(168,650) (1,392)	(281,868) (681)	(450,518) (2,073)	(608,071) (264,510)
Total expenditure		(170,042)	(282,549)	(452,591)	(872,581)
Net expenditure		(40,177)	(52,132)	(92,309)	(414,623)
Transfers between funds		425	(425)	-	-
Net movement in funds		(39,752)	(52,557)	(92,309)	(414,623)
Reconciliation offunds
Total funds brought forward		97,116	1,039,524	1,136,640	1,551,263
Totalfundscarriedforward		57,364	986,967	1,044,331	1,136,640

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

The notes on pages 9 to 24 form part of these financial statements.

eZee

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Statement of Financial Position

30 June 2025

		2025		2024
	Note	£	£	£	£
Fixed assets
Tangible fixed assets	17		959,675		978,175
Current assets
Debtors	18	18,211		46,401
Cash at bank and in hand		91,054		144,205
		109,265		190,606
Creditors: amounts falling due
within one year	19	(24,609)		(32,141)
Net current assets			84,656		158,465
Total assets less current liabilities			4,044,331		1,136,640
Net assets			1,044,331		1,136,640
Funds of the charity
Restricted funds			986,967		1,039,524
Unrestricted funds			57,364		97,116
Totalcharityfunds	22		1,044,331		1,136,640

For the year ending 30 June 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• ° The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

• e The directors acknowledge their responsibilities for complying with the requirements of the Act 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.

These financial statements were approved by the board of trustees and authorised for issue on 30/3]-26..., and are signed on behalf of the board by:

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P C Campbell \
Trustee
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Company Registration Number: SC401019

The notes on pages 9 to 24 form part of these financial statements.

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The charitable company is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is The Barn, Drovers Square, Ardgay, Sutherland, IV24 3AL.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

1. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have reviewed the cashflows and funding and on this basis determined there are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

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Year ended 30 June 2025

1. Accounting policies (continued)

Income

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• ° income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• ° legacy income is recognised when receipt is probable and entitlement is established.

• ° income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• ° income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• @ expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• ® expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• ° other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 30 June 2025

3. Accounting policies (continued)

Tangible assets

Tangible assets are initially recorded at cost,and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2.5% Straight line Plant and machinery - 25% straight line Fixtures and fittings - 10% straight line Equipment - 20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

Kyle of Sutherland Development Trust is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.

1. Donations and legacies

	Unrestricted	Restricted	Total	Funds
	Funds	Funds		2025
	£	£		£
Donations
Donations	10,450	-		10,450

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

5. Donations and legacies (continued)

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2025
	£	£	£
Grants
Highlands & Islands Enterprise	-	29,449	29,449
Scottish & Southern Energy	33,000	-	33,000
Scottish Government	559	98,047	98,606
Highland Council	-	21,329	21,329
Ardgay & District Community Council	-	5,000	5,000
Energy Savings Trust	-	23,712	23,712
FIT Far North	-	15,383	45,383
Foundation Scotland	19,100	-	19,100
The Robertson Trust	-	22,000	22,000
Highlands & Islands Climate Hub	-	300	300
Nourish Scotland	.. 150	422	572
Creich Community Council	-	5,000	5,000
Lairg & District Community Initiative	-	2,500	2,500
North Highland Initiative	-	2,475	2,475
Westminster Fund	2,650	-	2,650
Local Energy Scotland	-	4,800	4,800
	65,909	230,417	296,326
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£.	E
Donations
Donations	2,329	7,595	9,924
Grants
Highlands & Islands Enterprise	-	-	-
Scottish & Southern Energy	-	_	-
Scottish Government	-	-	-
Highland Council	-	-	-
Ardgay & District Community Council	-	-	-
Energy Savings Trust	-	—	-
FIT Far North	-	-	-
Foundation Scotland	-	-	-
The Robertson Trust	-	-	-
Highlands & Islands Climate Hub	-	—	~
Nourish Scotland	-	=	-
Creich Community Council	-	-	-
Lairg & District Community Initiative	-	-	-
North Highland Initiative	~	_	-
Westminster Fund	-	-	-
Local Energy Scotland	-	-	-
	2,329	7,595	9,924

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Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

6. Charitable activities

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2025
			£	£	£
	Grant income		_	-	-
	Rental income		22,474	-	22,474
	Business services		38,518	-	38,518
	Other income		2,076	_	2,076
			63,068	-	63,068
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2024
			£	£.	£
	Grant income		50,506	341,557	392,063
	Rental income		25,379	-	25,379
	Business services		13,920	6,200	20,120
	Other income		9,000	50	9,050
			98 805	347,807	446,612
7.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Bank interest receivable	888	888	1,422	1,422
8.	Expenditure on charitable activities by fund type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2025
			£	£	£
	Environmental		164,806	281,868	446,674
	Support costs		3,844	-	3,844
			168,650	281,868	450,518
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2024
			£	£	£
	Environmental		215,607	384,786	600,392
	Support costs		7,678	-	7,679
			223,285	384,786	608,071

« 4A =

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

9. Expenditure on charitable activities by activity type

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|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Activities| |undertaken|Grant|funding|Support|Total|funds|Total|fund| |directly|of|activities|costs|2025|2024| |£|£|£|£|£| |Environmental|417,758|28,916|~-|446,674|600,392| |Governance|costs|-||3,844|3,844|7,679| |417,758|28,916|3,844|450,518|608,071| |10.|Other|expenditure| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2025| |£|£|£| |Loss|on|disposal|of|tangible|fixed|assets|held|for| |charity's|own|use|1,392|681|2,073| |Other|exceptional|expenditure|-|-|-| |1,392|681|2,073| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2024| |£|£|£| |Loss|on|disposal|of tangible|fixed|assets|held|for| |charity's|own|use|-|-|>| |Other|exceptional|expenditure||264,510|264,510| |-|264,510|264,510| |The|exceptional|payment was was|the|repayment|of|part|of|a|grant|received|in|previous|years|relating| |to|the|building|sold|during|the|year.| |11.|Net|expenditure| |Net|expenditure|is|stated|after|charging/(crediting):| |2025|2024| |£|£| |Depreciation|of tangible|fixed|assets|42,615|38,362| |Loss|on|disposal|of tangible|fixed|assets|2,073|-| |Operating|lease|rentals|1,216|1,215| |12.|Auditors|remuneration| |2025|2024| |£|£| |Fees|payable|for|the|audit|of the|financial|statements|344|6,000|

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The exceptional payment was was the repayment of part of a grant received in previous years relating to the building sold during the year.

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;

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

13. Independent examination fees

	2025	2024
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	3,500	~
Staff costs
The total staff costs and employee benefits for the reporting period are analysed as		follows:
	2025	2024
	£	£
Wages and salaries	248,812	256,581
Employer national insurance	13,331	13,125
Employer contributionstopension plans	5,867	5,966
	268,010	275,672
The average head count of employees during the year was 15 (2024:	16). The average number
offull-time equivalent employees during the year is analysed as follows:
	2025	2024
Number ofstaff	No. 9	No. §

14. Staff costs

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

Key Management Personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charitable company. The total compensation paid to key management personnel for services provided to the charitable company was £81,980 (2024:£78,568).

15. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

No trustee expenses have been incurred.

= 416 =

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

16. Transfers between funds

£nil (2024 - £68,713) was transferred from unrestricted in favour of Post Office restricted fund to correct the closing balance.

Enil (2024 - £161,459) was transferred from the FOS Build restricted fund in favour of unrestricted funds to clear the remaining fund balance after the building was sold.

£nil (2024 - £45,522) was transferred from the HIE FOS restricted fund in favour of unrestricted funds to clear the remaining balance in the fund after the building was sold.

Enil (2024 - £5,000) was transferred from the Westminster Fund - Cost of Living in favour of unrestricted to cover the costs of administering the project. A further amount of Enil (2024 - £2,500) was transferred to the National Lottery Cost of Living to reallocate costs of the previous year.

£nil (2024 - £2,490) was transferred from the National Lottery - Cost of Living restricted fund to KOS HHF restructed funds to reallocate costs from the previous year.

£1,246 (2024 - £nil) was transferred from the FOS Portaloo restricted fund in favour of unrestricted funds.

£2,936 (2024 - £nil) was transferred from the HC Rural Transport restricted fund in favour of unrestricted funds to cover an amount agreed towards core funding for an employee's time spent assisting on this project.

£3,148 (2024 - Enil) was transferred from unrestricted funds in favour of the Place Plan restricted fund in relation to the Trust’s contribution towards the cost of this project.

£648 (2024 - £nil) was transferred from unrestricted funds in favour of the Ardgay 50th restricted fund to cover the deficit on this project.

-17-

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

17. Tangible fixed assets

	Land and	Plant and	Fixtures and
	buildings	machinery	fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 July 2024	1,165,552	-	3,609	103,380	1,272,541
Additions	-	26,187	-	-	26,187
Disposals	(330)	_	_	(4,985)	(5,315)
At 30 June 2025	1,165,222	26,187	3,609	98,395	1,293,413
Depreciation
At 1 July 2024	223,787	—	3,609	66,970	294,366
Charge forthe year	29,131	6,547	-	6,937	42,615
Disposals	(73)	_	-	(3,170)	(3,243)
At 30 June 2025	252,845	6,547	3,609	70,737	333,738
Carrying amount
At 30 June 2025	912,377	19,640	-	27,658	959,675
At 30 June 2024	941,765	-	-	36,410	978,175
Debtors
				2025	2024
				£	£
Trade debtors				2,025	1,857
Prepayments and accrued income				1,134	1,167
Other debtors				15,052	43,377
				18,211	46,401

18. Debtors

19. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	2,333	-
Accruals and deferred income	18,184	28,440
Social security and other taxes	2,157	1,168
Other creditors	1,934	2,533
	24,608	32,141

• 418 -

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

20. Deferred income

	2025	2024
	£	£
At 1 July 2024	8,561	1,001
Amount released to income	(8,561)	(1,001)
Amount deferred in year	2,510	8,561
At30June2025	2,510	8,561

Deferred income is income received during the year that relates to the following year.

21. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,867 (2024: £5,966).

At the year end the outstanding pension payments amounted to £934 (2024 - £1,133).

22. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At				At 30 June
	1 July 2024	Income	Expenditure	Transfers	2025
	£	£	F	£	£
General funds	95,702	129,865	(170,042)	1,839	57,364
Buss Xmas support	1,414	-	-	(1,414)	_
	97,116	129,865	(170,042)	425	57,364
	At				At
	1 July 2023	Income	Expenditure	Transfers 30 June 2024
	£	£	£	£	£
General funds	75,613	100,556	(222,699)	142,232	95,702
Buss Xmas support	-	2,000	(586)	-	1,414
	75,613	102,556	(223,285)	142,232	97,116

General funds

General ‘free reserves’ after allowing for all designated funds.

• 19 -

Kyle of Sutherland Development Trust

Company Limited by Guarantee Notes to the Financial Statements (continued)

Year ended 30 June 2025

22. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At				At 30 June
	1 July 2024	Income	Expenditure	Transfers	2025
	E	£	£	£	£
Post Office	46,394	-	~	-	46,394
Post Office House	93,610	-	(4,373)	-	89,237
FOS Build	-	-	-	-	-
CHESS	935	-	-	-	935
Ardgay Regeneration	671,707	-	(24,261)	-	647,446
Broadband project	2,483	-	(596)	-	1,887
Foundation Scotland -
Tulloch Road	13,295	-	(370)	-	12,925
SSE Beatrice Fund -
Electric Car KALM	12,289 6,713	- -	(862) (1,688)	- ~	11,427 5,025
LDCI HHF	1,742	2,500	(2,244)	-	1,998
BCKALM	10,056	-	-	-	10,056
BBMW Post Office	8,327	-	(2,131)	-	6,196
HIE FOS	~	-	-	-	-
MER (total)	10,802	-	(10,282)	-	520
RT LDCI HHF	-	-	-	-	-
SACC Project	46,201	34,863	(45,751)	-	35,313
Charitable Assets	3,695	-	_	-	3,695
Arnold Clark	4,492	-	(1,970)	-	2,522
Beatrice Resil	1,474	_	-	-	1,474
Connecting Scotland -
Kylesku	441	-	(181)	-	260
Edderton HHF	-	-	-	-	-
SLL	3,552	-	(633)	-	2,919
TFOP Kitchen Garden	8,156	-	(2,045)	-	6,111
KOS HHF	6,984	9,000	(7,213)	-	8,771
Queen's Jubilee	184	-	_	-	184
Asda Foundation	112	-	~	~	112
Highland Council - Cost
of Living	(28)	-	-	28	-
Westminster fund Cost
of Living	(5)	-	~	5	on
FOS Portaloo	1,435	-	-	(1,246)	189
Green Health	16,461	34,915	(34,001)	-	17,375
HC Rural Transport KF Donations (CFS)	10,018 6,394	- 422	(7,082) (6,039)	(2,936) -	- 777
Kyle Feeds	9,484	101,047	(94,830)	-	15,701
Lairg HHF	-	-	-	-	-
National Lottery Cost of
Living	4,209	a	-	(14)	4,195
Pockets and Pros	5,711	-	(2,238)	-	3,473
SCP (SACC)	2,367	150	(872)	-	1,645
Westminster	3	-	-	(3)	_
Winter Warmth Support B Big	446 833	- _	(326) (433)	(11) ua	109 400
Big Picnic	-	-	-	-	=
Climate Hub - kitchen
garden	238	-	(12)	-	226

• 20 -

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

22. Analysis of charitable funds (continued)

NHI (SGOB)	3,804	-	(3,517)	-	287
NHI (Xmas 2023)	-	-	-	-	-
Peoples Postcode
Lottery (Xmas larder)	-	-	-	-	-
Westminster (Xmas
boxes)	-	-	-	-	-
Place Plan SSE -Far North Line	4,000 20,510	- 15,383	(7,148) (8,350)	3,148 -	- 27,543
Energy Saving Trust	-	23,712	(5,928)	-	17,784
Sallachy Windfarm	-	4,800	(4,800)	-	=
Ardgay 50th	-	1,000	(1,648)	648	-
HICI - HI Climate	-	150	(106)	(44)	-
North Highland Initiative	-	2,475	(619)	-	1,856
	1,039,524	230,417	(282,549)	(425)	986,967
	At				At
	1 July 2023	Income	Expenditure	Transfers 30 June 2024
	£	£	£	£	£
Post Office	(22,319)	-	-	68,713	46,394
Post Office House	97,992	_	(4,382)	-	93,610
FOS Build	425,969	-	(264,510)	(161,459)	-
CHESS	935	-	-	-	935
Ardgay Regeneration Broadband project	696,019 3,228	- -	(24,312) (745)	- -	671,707 2,483
Foundation Scotland -
Tulloch Road	13,665	-	(370)	-	13,295
SSE Beatrice Fund -
Electric Car KALM	13,076 8,168	- -	(787) (1,455)	= -	12,289 6,713
LDCI HHF	-	2,000	(268)	10	1,742
BCKALM	10,056	=	-	-	10,056
BBMW Post Office	10,991	-	(2,664)	-	8,327
HIE FOS MER (total)	45,552 -	- 17,000	~ (6,198)	(45,552) -	= 10,802
RT LDCI HHF	10	-	-	(10)	-
SACC Project	32,317	74,015	(60,131)	-	46,201
CharitableAssets	3,695	-	-	-	3,695
Arnold Clark	1,710	3,500	(718)	~	4,492
Beatrice Resil	1,722	-	(248)	-	1,474
Connecting Scotland -
Kylesku	563	363	(485)	-	441
Edderton HHF	(766)	-	~	766	~
SLL	6,000	-	(2,448)	-	3,552
TFOP Kitchen Garden	10,000	-	(1,844)	-	8,156
KOS HHF Queen's Jubilee	5,907 184	5,000 =	(6,413) -	2,490 -	6,984 184
AsdaFoudation	112	-	=	-	112

-24-

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 30 June 2025

22. Analysis of charitable funds (continued)

Highland Council - Cost
of Living	(309)	-	-	281	(28)
Westminster fund Cost
of Living FOS Portaloo Green Health HC Rural Transport	48,900 4,821 18,495 15,000	- - 35,111 39,400	(41,405) (3,386) (37,445) (44,382)	(7,500) - 300 -	(5) 1,435 16,461 10,018
KF Donations (CFS)	2,970	5,164	(1,740)	-	6,394
Kyle Feeds Lairg HHF National Lottery Cost of	930 1,000	113,927 -	(105,373) (1,000)	- -	9,484 -
Living	8,626	-	(4,427)	10	4,209
Pockets and Pros	4,242	7,400	(5,931)	-	5,711
SCP (SACC) Westminster Winter Warmth Support	2,193 1,879 2,117	470 ~ _	(296) (1,216) (2,050)	- (660) 379	2,367 3 446
B Big	~	1,151	(318)	-	833
Big Picnic	-	200	(200)	-	-
Climate Hub - kitchen
garden NHI (SGOB)	_~ -	500 9,480	(262) (5,676)	- -	238 3,804
NHI (Xmas 2023)	-	11,160	(11,160)	-	-
Peoples Postcode
Lottery (Xmas larder)	-	2,551	(2,551)	-	-
Westminster (Xmas
boxes)	-	2,500	(2,500)	-	-
Place Plan	-	4,000	-	-	4,000
SSE - Far North Line	-	20,510	-	-	20,510
Energy Saving Trust	-	~	-	-	-
Sallachy Windfarm	-	-	-	-	~
Ardgay 50th	-	-	-	_	-
HICI - HI Climate	-	-	-	-	-
North Highland Initiative	_-	-	_	-	-
	1,475,650	355,402	(649,296)	(142,232)	1,039,524

-22-

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

22. Analysis of charitable funds (continued)

Post office and Post Office House are fixed asset funds relating to the Post Office in Bonar Bridge.

FOS Build is a fixed asset fund for the initial purchase of Falls of Shin and the rebuild costs.

Ardgay Regeneration is a fixed asset fund. Funding was received to regenerate the site of a derelict hotel in the centre of the village of Ardgay. This work was completed in 2019.

Broadband Project is a fixed asset fund. Funding was received from the SSE Beatrice Fund to erect masts to act as the carriers of wi-fi superfast broadband to our most remote communities.

Tulloch Road - Funding received to investigate the opportunity to build three housing units on land adjacent to Bonar Bridge Post Office. This build has not proceeded.

Electric Car is a fixed asset fund. In 2017 funding was secured to purchase an electric vehicle so that our staff could travel to meetings and projects in a more environmentally sustainable way.

KALM funding was received to deliver the project Kyle All Lives Matter. This was initially funded by the Scottish Government with further funding received from The Highland Council.

BBMW Post Office was funding received from SSE Achany, HIE and both Community Councils for a refurbishment. This was completed in November 2021. The balance on the fund relates to fixed assets.

HIE FOS is a fixed asset fund with funding received from HIE to provide an overnight parking facility for motorhomes, including electric hook up points, water, and waste disposal facilities which were installed at Falls of Shin in early 2021.

SACC Project is funding received from The Scottish Government's Aspiring Communities Fund which funded 3 FTE employees and help deliver, in partnership with communities, projects dealing with inequalities and deprivation

Kitchen Garden is funding received from The National Lottery Community Fund for a Ready Steady Grow project.

Westminster cost of living - food support funds distributed to disadvantaged and vulnerable children and young people affected by the cost of living crises.

Green Health - funding for projects which benefit mental health, wellbeing and inclusion by using our natural assets.

Kyle FEEDS - funding for projects which improve health inequalities including the community café, polytunnel and other community events.

Far North Line - funding for project to develop responsible tourism and promote rail travel in communities served by the Far North Line.

Energy Saving Trust - funding to install new electric vehicle charging point.

Sallachy Windfarm - funding to cover fee for Sallachy Windfarm investment options paper.

Ardgay 50th — funding towards the Argay 50th celebration.

North Highland Initiative — funding to be used for the purpose of building a wooden shelter with table and benches in the Kitchen Garden.

• 23 -

Kyle of Sutherland Development Trust

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

23. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2025
	£	£	£
Tangible fixed assets	16,945	942,730	959,675
Current assets	64,075	45,190	109,265
Creditors less than 1 year	(23,656)	(953)	(24,609)
Net assets	57,364	976,327	1,044,331
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Tangible fixed assets	19,426	958,749	978,175
Current assets	109,831	80,775	190,606
Creditors less than 1 year	(32,141)	-	(32,141)
Net assets	97,116	1,039,524	1,136,640
Operating lease commitments
The total future minimum lease payments under	non-cancellable operating leases are as follows:
		2025	2024
		£	£
Not later than 1 year		1,081	1,081
Later than 1 year and not later than 5 years		555	2,704
Later than 5 years		-	13
		1,636	3,798

24. Operating lease commitments

The operating lease payments recognised as an expense amounted to £1,081 (2024 - £1,081).

25. Related parties

During the year the daughter of one of the trustees received remuneration of Enil (2024 - £28,592).

During the year the charity paid £8,306 (2024 - £10,999) to Carn Bren Publishing Ltd, a company in which a trustee is a director and shareholder, for publishing costs in connection with the Kyle Chronicle.

• 24 -