Charity Registration No. SC044593 SZThe Pebble Trust REPORT AND FINANCIAL STATEMENTS ST FOR THE YEAR ENDED 31 MARCH 2025 SThe Pebble Trust CONTENTS Page numbers Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities (incoryorating the income and expenditure account) Balance Sheet Statement of Cash Flows Notes to the Financial Statements 10 11- 12 SfThe Pebble Trust TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 The Trustees have pleasuie in presenting thell annual report and the unaudited financial statements of the charity. Objects and Activities The purposes of the Trust ￿e. The advancement of environmental protection oi impiovement, in particulai. supporting organisations and individuals developing sustainable lifestyles and piojects which take into account future resource av¢iilability and the desirability of a mole equal society. The advancement of community development, encouraging local communities to become strongei and more self-reliant by adopting more sustainable Iifestyles; The advancement of education and science, specifically relating to the technical and social aspects of sustainable lifestyles. and Such other puiyoses as are chaLitable which enable the charitable objectives to be fulfilled. The Tiust makes grants to individuals or organisations seeking to further its purposes. Projects funded are expected to benefit the public through: A ieduced resoui'ce-intensity of lifestyles, thereby contributing to a more sustainable future. A contribution to individuals, awai'eness, and the technical l(nowledge requii'ed foi. sustainable lifestyles. Making results known, thereby disseminating and promulgating the results of funded projects. The Trust supports projects in Scotland, and particularly in the Highlands & Islands, where all the Trustees 'e based. During 2024 - 25 the Trust supported a number of internships, helping to give young adults work experience relevant to our sustainability agenda. The Trust also allocates a small amount of funds to projects in the global south, recognising the importance of developments there. In addition to making grants in this way, the Trust commissions work on its own projects wheie the Trustees identify an oppoitunity to advance the Tiust, S PULyoses. Grant-making policy The Trust offers grants of up to £10,000 per project. In assessing grant applications, the Trustees consider the following criteria.. Extent to which application meets the Pebble Tiust objectives. Ciedibility of applicant and project managers. Value for money. Lasting benefits arising from project. Extent of any negative implications against Pebble Trust objectives. SBThe Pebble Trust TRUSTEES, ANNUAL REPORT (coiitiniled) FOR THE YEAR ENDED 31ST MARCH 2025 Achievements and Performance Grants awarded The following pi'ojects have been funded during the year: Growing Community Supported Agriculture: Running a programme of mentoring sessions to support growing businesses wanting to adopt the community suppoited agriculture model. Holm Piimary School - Growing our Learning.. Providing a polytunnel for childien to study plant life, lifecycles and responsibility for natuie - a collaborative pioject working with a local community g￿den. Coigach Community Garden: Running a pilot community g￿den in Achiltibuie, to assess the potential for a longei-term, community-owned, glowing site. Creative Learning, Creative Spaces.. Creating a Green Education Programme to use creative learning to engage the community on Mull with the climate crisis. Renewable Electricity in Off-grid Areas of Malawi.. Prep￿Illg feasibility studies to replicate an existing SO1￿._pOWe1.¢d "minigrid" in seven more off-grid communities. Decarbonisation of Boleskine House: Adapting this heritage building to renewable technologies, and using that resource for educational activities. Growing Minginish: Developing a community garden in the giounds of Minginish Community Hall on Skye. Uist Beo - Sustainable Island Living. Using a digital platform to gather and sh￿e stories of sustainable piactices in Uist, featuiing local people, businesses and community groups. Developing Leaders for Sustainable Communities: Providing an 8-day leadership programme foi learners wanting to take action in their communities to tackle the climate emergency. The Green Core: Development of the school garden at Inverness Royal Academy. Art foi Action.. A climate "artivism" project, working with children and young people acioss the Highlands, in conjunction with a Mock COP 29 event. Forest to Fork Remote Deer Extiaction: Experimenting with the use of a capstan winch to exti'act deer carcasses from areas which would otherwise be inaccessible. KnoYd￿t F￿rn CIC Woikshop Programme.. Delivering a series of woikshops on sustainable farming, oiganic food production and envllonmental stewardship. Fort Augustus Convent Land Wildflower Meadows.. Establishment of a 1.5 acres wet and diy wildflower meadow, and educational work with volunteers and local schools. Stone & Veil Digital Game Development: Development of a digital game, set in a rural Scottish Highland town, incoiyorating resource management and ecology with Pictish heritage. Growing Togethei in Highland: Pi'oviding weekly vegetable growing sessions in Alness, teaching people to grow and cook thell own food. 11SZThc Pebble Trust TRUSTEE4 S, ANNUAL REPORT (coiitiniied) FOR THE YEAR ENDED 31ST MARCH 2025 Achievements and Performance (continued) Comunn Mheabhaig nam Beann Growing Progiamme.. Devcloping a community vegetabIe g￿.den on a Sh￿ed agricultural holding in the village of Mheabhaig nam Beann, in Harris. KnOyd￿"t Tree Nursery: Installing a second, warmer, polytunnel to extend the growing season, increase the number of trees grown and improve the viability of the nurseiy. Internshi The Tiust suppoited tFll'ee internships, offering young people an opportunity to gain relevant woi'k experience in the Highlands.. Old Allangrange Practical Horticultural Internship: Learning to grow food sustainably Climavore CIC Community Engagement., Helping to create and deliver a series of events on Skye, focussing on local food production River Reviveis.. Working on practical riverine restoration, combining practical hands-on work with desk- based computer modelling, surveying and ieport-wi'iting. Pebble Trust ro ects In addition to funding these grant applications, from time to time the Trust develops projects of its own. The book, "Sustainable Renovation - Impi'oving Homes for Energy, Health and Environment", designed to set out best practice in carrying out property renovation work to improve energy efficiency, was originally published by the Trust in 2018, and a second edition was published duiing 2023. It is available as a flee pdf from the Tiust's website, or a hard copy is available for a small charge. The book has been adopted by the Scottish Ecological Design Association as one of its series of guides to best practice in construction. The Trust continued to fund the Highland Good Food Partneiship, which aims to stimulate action to impi'ove the Highland food system, for the benefit of the environnient, the local iesidents, and for those working in the sector. The Partnership brings together repiesentatives from the public, private and chaiitablel community sectois with an interest in the food system. Future Plans and Activities Since the Ye￿-end, the Tiust has made a further 23 grants amounting to £162,855. Financial Review Grants made during the period amounted to £148,470 (2024.. £162,653), and a further £49,886 (2024., £37,047) was spent on other charitable activities, including core funding foi the Highland Good Food Partneiship (in 2024, mainly on the second edition of the Sustainable Renovation Guide). Investment management costs of £15,572 (2024.. £20,204) were incurred. ZThe Pebble Trust TRU,STFF,S' ANNUAI, RFPORT (contimiied) FOR THE YEAR ENDED 31SI' MARCH 2025 Financial Review (continued) Investment conditions wei'e particulaily difficult towards the end of the financial year duc to uncci'tainty about thc tariffs proposed by the USA, but despite this theie were Iict rcalised and umealised investment giiins of £38,021 (2024.. £200,971). Investment income during the period amounted to £24,461 of dividends and interest (2024.. £16,580). Total funds at the balance sheet date amountcd to £2,719,681 (2024.. £2,869, 725). Investment Policy During the year the Trust changed its investment policy, and appointed Greenbank, a division of Rathbones Investment Management, as its investment manager. Greenbank specialises in cthical and sustainable investing, and has developed a portfolio of investments to minDr the Trust, s Lh