Charity Registration No. SC044159 (Scotland) Company Registration No. SC454209 (Scotland)
ALLT DEARG EDUCATIONAL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
## ALLT DEARG EDUCATIONAL TRUST
## LEGAL AND ADMINISTRATIVE INFORMATION
## Directors
Elaine Barber Mary Broadfoot Andrew Large Sir Jim McDonald
Charity number (Scotland) $C044159 Company number SC454209
Principal address Stronachullin House Stronachullin Ardrishaig Argyll PA30 8RT Registered office The Old Surgery School Road Tarbert Argyll PA29 6UL Independent examiner examiner lain D C Webster Goldwells (Argyll) Ltd The Old Surgery School Road Tarbert ARGYLL PA29 6UL
## Independent examiner examiner
## Bankers
The Co-operative Bank PO Box 250 Delf House Southway Skelmersdale WN8 6WT
## ALLT DEARG EDUCATIONAL TRUST
## CONTENTS
||Page|
|---|---|
|Directors’ report|1-2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Statement offinancial position|5|
|Notestothefinancialstatements|6-12|
## ALLT DEARG EDUCATIONAL TRUST
## DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025
The Directors presents it's report and accounts for the year ended 31 July 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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
The Trust's objects are set out in the Memorandum and Articles of Association and are to seek the advancement of education of young people originating from Argyll and Bute, who are in full-time further education and are living away from their parental home by the provision of bursaries and other support. In providing such bursaries and support, the trust will:
1. prioritise the available support to young people from the primary areas adjacent to the Allt Dearg Community Wind Farm as first priority, then young people from the secondary areas as second priority, thereafter the scheme is open to all young people in Argyll and Bute;
2. take account of the family and economic circumstances of the young people, and shall prioritise support to those young people, for whom the provision of such support would be a material factor in overcoming a reluctance or financial inability to pursue tertiary education;
3. take account of the nature of the tertiary education being pursued by the young person, and shall prioritise support for those studying courses of noted academic and vocational value;
4. take account of the character and educational potential of the young people, and shall prioritise support to those young people who are most likely to achieve and benefit from such educational opportunity; and
5. satisfy itself on an annual basis, that the support provided is being properly employed to support the Trust objectives.
The Directors have paid due regard to guidance issued by OSCR in deciding what activities the Trust should undertake.
## Achievements and performance
During the year the Trust received donations from the partners of the Allt Dearg Community Wind Farm totalling £43,254 and Sondoire Community Wind Farm totalling £24,330. Gift Aid of £5,223 is also recoverable on some of these donations.
2024-25 was our twelfth year of operation. Allt Dearg Educational Trust has now supported 261 individual young people, and has paid 602 annual grants totalling over £620,000. Thank you to Allt Dearg Community Windfarm and Srondoire Community Windfarm, who provide 100% of the funds via annual donations.
In our twelfth year we received 34 applications. Of these we awarded grants to 31 young people totalling £34,800 and we expect to support them throughout their course. We also had continuing awards to 33 young people amounting to £35,910.
Priority is given to applications from young people whose homes are adjacent to the windfarms.
245
## ALLT DEARG EDUCATIONAL TRUST
## DIRECTORS' REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 JULY 2025
## Financial review
It is the policy of Trust that funds should be maintained at a level to meet the short-term anticipated expenditure needs with the contingent commitments being met out of anticipated future donations from the Allt Dearg and Srondoire wind farms.
The Trust ensures that all funding to further the aims of the Trust contains an element of funding to contribute towards Trust expenses.
The Trust is registered for Gift Aid from subscriptions and donations.
The Directors have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## Structure, governance and management
The Trust is a company limited by guarantee and having no share capital, recognised by HM Revenue & Customs as a Scottish Charity. The Trust's management is carried out by the relevant directors to achieve the objectives decided at board meetings.
The Trustees, who are also the directors for the purpose of company law, and who served during the year were: Elaine Barber
Mary Broadfoot
## Andrew Large
Sir Jim McDonald
Membership is open to any individual who is interested in promoting the objects of the company. Any person who wishes to become a member must sign, and lodge with the company, a written application for membership. The Trustees shall consider each application for membership at the first Trustees’ meeting which is held after receipt of the application; the Trustees shall, within a reasonable time after the meeting, notify the applicant of their decision on the application. The Trustees may, at their discretion, refuse to admit any person to membership.
The Trust's Equal Opportunities policy is implicit in this process.
At each annual general meeting, the members may elect any member (providing he/she is willing to act) to be a Trustee. Trustees shall retire by rotation but may be eligible for re-election. As per the Articles of Association of the Trust the minimum number of Trustees shall be 3 and there is no maximum. A Trustee must be a member.
None of the Trustees/Directors has any beneficial interest in the company. All of the directors are members of the company and guarantee to contribute £1 in the event of a winding up.
There were no transactions with related parties during the year.
The Directors' report was approved by the Board of Directors.
Mary Broadfoot Director Dated: .0.1./9.4.12 &
ode
## ALLT DEARG EDUCATIONAL TRUST
## INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF ALLT DEARG EDUCATIONAL TRUST
| report on the accounts for the year ended 31 July 2025 set out on pages 4 to 10.
## Respective responsibilities of Directors and examiner
The directors, who also act as trustees for the Charitable Trust, are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Directors consider that the audit requirement of Regulation 10 (1) (a) to (c) of the Accounts Regulations does not apply.
## Basis of independent examiner's statement
My examination is carried 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 within those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the directors concerning any such matters. The proceedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an opinion on the view given by the accounts.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) | to keep accounting records in accordance with section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- (ii) | to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations; have not been met;or
- (b} to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
lainhsD C WebsterNabCA cH Chartered Accountant The Old Surgery School Road Tarbert ARGYLL
PA29 6UL
## Dated: \ Beads NytAosb _
-3-
## ALLT DEARG EDUCATIONAL TRUST
## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
## FOR THE YEAR ENDED 31 JULY 2025
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||funds|funds||funds|funds||
|||2025|2025|2025|2024|2024|2024|
||Notes|£|£|£|£|£|£|
|Income from:||||||||
|Donations and legacies|3|-|-|-|20,000|-|20,000|
|Charitable activities|4|-|72,807|72,807|-|71,595|71,595|
|Total income||-|72,807|72,807|20,000|71,595|91,595|
|Expenditure on:||||||||
|Charitable activities|5|-|71,839|71,839|-|62,289|62,289|
|Total expenditure||-|71,839|71,839|-|62,289|62,289|
|Net income and movement in||||||||
|funds||-|968|968|20,000|9,306|29,306|
|Reconciliation offunds:||||||||
|Fund balances at 1 August||||||||
|2024||20,000|41,111|61,111|-|31,805|31,805|
|Fund balances at 31 July||||||||
|2025||20,000|42,079|62,079|20,000|41,111|61,111|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
-4.
## ALLT DEARG EDUCATIONAL TRUST
## STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2025
**----- Start of picture text -----**
2025 2024
Notes £ £ £ £
Current assets
Trade and other receivables 12 - 5,915
Cash at bank and in hand 63,207 57,595
63,207 63,510
Current liabilities 13 (1,128) (2,399)
Net current assets 62,079 61,111
The funds of the Trust
Restricted income funds 14 42,079 41,114
Unrestricted funds 15 20,000 20,000
62,079 61,111
**----- End of picture text -----**
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Directors on LA ab, BEG
**----- Start of picture text -----**
Mary Broadfoot Sir Jim McDonald
Director Director
**----- End of picture text -----**
Company registration number SC454209 (Scotland)
-5-
## ALLT DEARG EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
- 1 Accounting policies
## Charity information
Allt Dearg Educational Trust is a private company limited by guarantee incorporated in Scotland. The registered office is The Old Surgery, School Road, Tarbert, Argyll, PA29 6UL.
- 1.1 Accounting convention
The financial statements have been prepared in accordance with the Trust's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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)". The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## 1.2 Going concern
At the time of approving the financial statements, the Directors have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
## 1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Trust.
- 1.4 Income
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Grants receivable for use in achieving the Trusts charitable aims are credited to the Statement of Financial Activities (SOFA) in the year in which they are receivable.
-6-
## ALLT DEARG EDUCATIONAL TRUST
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
## 1 Accounting policies
## (Continued)
- 1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly expended in the SOFA.
Governance costs include the costs or governance arrangements which relate to the general running of the trust.
## 1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 1.7 Financial instruments
- The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## Basic financial liabilities
Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
<7
## ALLT DEARG EDUCATIONAL TRUST
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
1 Accounting policies
## (Continued)
## Derecognition of financial liabilities
Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged or cancelled.
## 2 Critical accounting estimates and judgements
In the application of the Trust's accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## 3 Income from donations and legacies
|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2025|2024|
|||£|£|
||Donations and gifts|-|20,000|
|4|Income from charitable activities|||
|||Restricted|Restricted|
|||funds|funds|
|||2025|2024|
|||£|£|
||Donations|||
||Performancerelatedgrants|72,807|71,595|
-8-
## ALLT DEARG EDUCATIONAL TRUST
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
## 5 Expenditure on charitable activities
||Educational|Educational|
|---|---|---|
||grants|grants|
||2025|2024|
||£|£|
|Direct costs|||
|Grant funding of activities (see note 6)|70,710|60,950|
|Share ofsupportand governance costs (see note 7)|||
|Governance|1,129|1,339|
||71,839|62,289|
|Analysis by fund|||
|Restrictedfunds|71,839|62,289|
## 6 Grants payable
||||Educational|Educational|
|---|---|---|---|---|
||||Grants|Grants|
||||2025|2024|
||||£|£|
|Grants|to|individuals|70,710|60,950|
||||70,710|60,950|
Educational grants, of varying amounts, were paid to 61 (2024 - 67) individuals in the year.
- 7 Support costs
|Support costs|||||||
|---|---|---|---|---|---|---|
||Support|Governance|2025Support costs||Governance|2024|
||costs|costs|||costs||
||£|£|£|£|£|£|
|Independentexamination|-|1,129|1,129|-|1,339|1,339|
||-|1,129|1,129|-|1,339|1,339|
|Analysed between|||||||
|Charitableactivities|-|4,129|4,129|-|1,339|1,339|
-9-
## ALLT DEARG EDUCATIONAL TRUST
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
|8|Netmovement in funds|2025|2024|
|---|---|---|---|
|||£|£|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination ofthe charity's financial|||
||statements|1,129|1,339|
## 9 Directors
None of the Directors (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
## 10 Employees
The average monthly number of employees including directors during the year was:
|2025|2024|
|---|---|
|Number|Number|
|4|4|
There were no employees whose annual remuneration was more than £60,000.
## 11. Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## 12 Trade and other receivables
|12|Trade and other receivables|||
|---|---|---|---|
|||2025|2024|
||Amounts falting due within one year:|£|£|
||Trade receivables|-|§,915|
|13|Current liabilities|||
|||2025|2024|
|||£|£|
||Trade payables|-|1,060|
||Accruals and deferred income|1,128|1,339|
|||1,128|2,399|
-10-
## ALLT DEARG EDUCATIONAL TRUST
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
## 14 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||At|1 August|Incoming|Resources|At 31 July|
|---|---|---|---|---|---|
|||2024|resources|expended|2025|
|||£|£|£|£|
|Allt Dearg Windfarm LLP||41,111|48,477|(47,509)|42,079|
|Srondoire Windfarm||-|24,330|(24,330)|-|
|||41,111|72,807|(71,839)|42,079|
|Previous year:|At 1 August||Incoming|Resources|At31 July|
|||2023|resources|expended|2024|
|||£|£|£|£|
|Allt Dearg Windfarm LLP||31,805|47,950|(38,644)|41,111|
|Srondoire Windfarm||-|23,645|(23,645)|-|
|||31,805|71,595|(62,289)|41,111|
## 15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||At 1 August|incoming|At 31 July|
|---|---|---|---|
||2024|resources|2025|
||£|£|£|
|SSEN Distrubtion donation|20,000|-|20,000|
|Previous year:|At 1 August|Incoming|At31 July|
||2023|resources|2024|
||£|£|£|
|SSENDistrubtiondonation|-|20,000|20,000|
-WW-
## ALLT DEARG EDUCATIONAL TRUST
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
## 16 Analysis of net assets between funds
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds||
||2025|2025|2025|
||£|£|£|
|At 31 July 2025:||||
|Current assets/(liabilities)|20,000|42,079|62,079|
||20,000|42,079|62,079|
||Unrestricted|Restricted|Total|
||funds|funds||
||2024|2024|2024|
||£|£|£|
|At 31 July 2024:||||
|Current assets/(liabilities)|20,000|41,111|61,111|
||20,000|41,111|61,111|
## 17 Contingent liabilities
In addition to the grants accrued in Note 5, the Trustees have authorised certain grants (conditional awards) which are subject to recipients fulfilling certain conditions. These conditional grant awards are:
||2025|2024|
|---|---|---|
||£|£|
|Payment possible, due within one year|49,200|42,920|
|Payment possible, due in more than one year|54,600|48,720|
|Totalcontingentliabilities|103,800|91,640|
## 18 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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