COMPANY REGISTRATION NUMBER: SC397640 CHARITY REGISTRATION NUMBER: SC044689 Muir of Ord Development Trust Company Limited by Guarantee Unaudited Financial Statements 30 April 2025 RITSONS Chartered Accountants Forbes House 36 Hunlly Street Inverness IV3 SPR
Muir of Ord Development Trust Company Limited by Guarantee Financial Statements Year ended 30 April 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 stalements The following pages do not form part of the financial statements Detailed statement of financial activities 23 Notes to the detailed statement of financial activities 25
Muir of Ord Development Trust Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) Year ended 30 April 2025 The trustees, who are also the ijirectors for the purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 30 April 2025. Reference and administrative details Registered charity name Muir of Ord Development Trust Charity registration number SC044689 Company reglstration number SC397640 Principal office and registered The IAuir Hub office Great North Road Muir of Ord IV6 7SU Scotland The trustees M P Atkinson S M Pennington J A Taylor G Tuach F MacGruer B M Nicho150n C Noble R Ma¢Kay M C MacAulay IResigned 25 September 20241 (Resigned 5 May 20251 (Resigned 19 August 20251 {Resigned 19 August 20251 (Appointed 6 May 202SI Company secretary F Macgruer Person to whom day to day Running of the charity delegated to H Macsween lo May 2024 to June 2024 J Milne from July 24 onward Independent examiner Daniel Palombo M.A.{Honsl, C.A. Forbes House 36 Hunlly Street Inverness IV3 SPR Solicitors Madeod & Maccallum 28 Queensgale Inverness IV1 1YN
Muir of Ord Development Trust Company Limited by Guarantee Trustees, Annual Report {In¢orporating the Director's Report) (contintse(g Year ended 30 April 2025 Structure. governance and management Governing Document The charity is controlled by ils goveming document. a deed of Irusl, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity is registered with the Office of the Scottish Charity Regulator {OSCRI Recruitment and Appointment of New TrusteeslDirectors All the Trustees have been elected or re-eleclecl by the membership at an Annual General Meeting or eo-opled by the other Directors lo serve until the next announced meeting of members. New Iruslees are provided with the policies and documents of the charity and fftceive information about their responsibilities developed by OSCR and the Development Trusts Association Scotland IDTASI of which the company is a member. Organisational Structure The Muif of Ord Development Trust is governed by 3 Board of Trustees which has responsibility for all decision making. All the Trustees are volunteers and none of them have any beneficial interest in the charity. The Board fom)ally met 20 times during the year lo consider all aspects of the functioning of the Trust and make decisions as lo strategy and future planning. During the year, the Company continued lo support 3 formally conslituled subsidiary groups." the Muir of Ord Gala Group. the Muir Matters Group and MOOFoDd. The Trust also supported 3nd facililaled the start of the Muir of Ord Men's Shed group which now operates independently_ The Muir Moves and programme was revived during the year, this has previously not run since Covid. The tourism website, Diswver Muir of Ord was also revived. Each of the groups were volunteer tun and effectively operated within the sphere of their remits. Over the course of the year a number of new individuals did volunteer to become involved in particular projects and we conb'nue lo seek and encourage volunteers. Risk Management The trustees review the policies and procedures of the charitable company on a regular basis and any identified risks are managed appropriately. Objectives and activities Objeclives and Aims The Trust has been formed to deliver benefits for the Community, the geographic extent of which is defined in Article 2 of section B of the Articles. This will be achieved by promoting and facililaling the following Purposes.. To manage the Muir of Ord Village Hall. The Muir Hub and any other facilities for the benefit of the Community and the public in general. To provide, or assist in providing, recreational facilities, andl or organising recreational a¢livilie5, which will be available lo members of the Community and public at large. To advance community development, including urban or rural regeneration within the Community. The prevention or relief of poverty and the advancement of health and eduealion The advancement of environmental protection or improvement Significant Activities In order to achieve its objectives. the charity carried out the following aclivilies.. Overseeing the functioning of the Muir of Ord Village Hall, encouraging its use as a local venue and conducting necessary repairs and improvements. Continued lo promote the Muir Hub as the primary community venue. Supported and encouraged the independent café in the Hub lo develop. Organised a range of events in the Village square and within community buildings. Continued lo deliver community support post-pandemic
Muir of Ord Development Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dtrector's Report) (continue Year ended 30 April 2025 Employed staff lo ensure the efficient operation of the Company Achievements and performance Charitable Activities The Gala Group was able to run a very successful range of Gala activities in July 2024 despite a severe rainstorm. These were enthusiastically supported by the community. The Group also ensured that the other outside music events managed lo go ahead by undertaking all the necessary tasks before, during and aftevards. Muir Matters Group produced their quartedy journal each season,. they are a small group and il involves a lot of work to gel the edition out on lime and into the sales venues, manage the advertising and collect the income. They remain reliant on the part-lime employee who typesets and designs the layout for each edition. The MOOFood group csivided around particular activities.. monthty lunch gathering, village planters. community fridge and larder. Each has required a dedicated team of volunteers to keep everything going. The intended environmental cmrdinalion role declined for lack of volunteers. In June 2024 Hannah Macsween left her role as part-lime Community Development Manager, Hannah's focus upon her return was lo rebuild links with groups and individuals with whom she had worked previously and particularly lo redevelop the volunteer support to the work of the Trust. But with required administrative tasks in running the Trust the two tasks proved loo challenging on a part-time basis while new board members had not tsken on specific management roles. The Caretaker and Administrator handed in Notice in March 2025 and were replaced in June 2025 by a cleaner on 10 hours per week and part time Administrator. The reliral of the long-lerm chair and other directors coincided with the reduction of staff capacity so with continuing monthly losses the board activated a continuing exercise with DTAS Crisis management and engaged in a Financial review. The financial assistance of SSEN in part funding the adminislralive posts is recognised as significant lo the Trust's future development as incomes from the two buildings did not cover costs. Financial review During the financial year 2024125 covered by this report, the fnanCeS ol the Muir of Ord Development Twst have been properly managed by the trustees and CDM. An improved system of managing debtors was introduced and invoicing updated. To offset the severe energy cost rises applications for PV installations al both Hub and Hall were initiated. Healing and especially electricity costs are al least three limes higher than previously. while insurances inspections and other Compliance costs continue lo rise above inflation rates. Use and demand for spaTr do not cover the overhead costs of running them so that loo much CDM time and effort is allocated lo property management and repairs matters. The Trust continued tr) rely on grant funding from slatulory organisalions including the SSE Fairburn Windfarm Fund which partially supported the salary of the Community Development Manager. The Muir Hub and Village Hall were just viable from the income they generated. The Café Continued lo be rented out and regular formal meetings were held with the café tenant lo manage needs and lo find a way forward with their ongoing costs and backlog payments. The Social Enterprise Academy office rental ceased in November 2024 and the rental was lost. Installation of PV al Village Hall and Hub and ASHP al Hub to redu energy usage and costs, this was grant funded by EST and Cares. It is hoped that this will reduce energy costs as the huge uplift in energy costs pul a massive stTain on the financial viability of the Trust.
Muir of Ord Development Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Reportl (¢oy¥tinu Year ended 30 April 2025 The Trust took over the management of the Community Pavillion from the Community Association from 2024, although legals still not completed at yel. This increases our income bul not will also increase our Insuran and maintenance costs. The Trust's reserves declined monthly in addition to major decline in the previous year. The Trust recognises that additional and improved marketing of available space is urgent. Results The results for the year and the ch8rity's financial position are shown in the attached financial statements. The charity made a surplus of £29,375 {2024 deficit £11,484) of which £5,978 surplus 12024 - £6,287 deficit) relates lo unrestricted funds and £23,397 {2024 - £17,771 deficit) relates lo restricted funds before transfers between funds. The trustees are actively looking for additional funding for running costs going forward and are confident that this will be secured. AI 30 April 2025. lolal reserves amounted lo £1,323,889 {2024 - £1.294,5141 of which £25,417 deficit 12024 - £31,395 deficill are unrestricted and £1,349,306 (2024- £1.325,9091 a restricted. Plans for future periods A community consultation was held in February 2024 to provide ideas for best use of the SSE fvnding., this confirmed a strong view that partial funding of the Community Development Manager post was essential. Further consultslions took place in the context of the AGM and Black Isle Local Plan, and quarterly open meetings with the board were started. The Board worked with the Black Isle Local Place Plan team lo hold further community d8ys and surveys to think of future projects and lo guide community action and public services and lo strengthen joint community working through the Black Isle. The transfers of land from the Community Association remain on-going. The board will be under-going a strategy review and updated business plan for the end of the financial year and beyond. Through funding from SSE the trust will have a part time administrator to increase capacity within the team. The fYS will be on reinstating the online booking system for both venues and making sure room occupancy is maximised. The Trust will continue lo run its flagship social events including Halloween and Christmas events. Small Company provisions This report has been prepared in accordance with the pnjvisions applicable lo companies enlilled to the small companies exemption. 2.blo514..... The tnjstees, annual report was approved on ..... trustees by.. and signed on behalf of the board of F MacGruer Trustee
Muir of Ord Development Trust Company Limited by Guarantee Independent Examiner's Report to the Trustees of Muir of Ord Development Trust Year ended 30 April 2025 I report lo the trustees on my examination of the financial stslemenls of Muir of Ord Development Trust I'lhe charity'l for the year ended 30 April 2025. Responsibilities and basis of report As the Iruslees of the company land also its directors for the Purposes of company lawl you are responsible for the preparation of the financial statements in accoidance with the requirements of the Charities and Trustee Investment {Scollandl Act 2005 I'the 2005 Acl'l, the Charities Accounts (Scotland) Regulations 2006 las amended) and the Companies Act 2006 I'lhe 2006 ACYI. You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead lo have an independent examination. Having satisfied myself that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's 8ccounls carried out under section 44111(cl of the 2005 Act. In carrying out my examination I have followed the requirements of ReguLation 11 of the Charities Accounts (Scollandl ReguLgtions 2006 {as amended). Independent examinerfs statement Since the charity is required by Company law to prep2re ils accounts on an accruals basis and is gislered as a charity in Scotland your examiner must be a member of a body listed in Regulation 1112} of the Charities Accounts (Scolland) Regulations 2006 las amended). I can confirm that l am qualified lo undertake the examination be¢ause I".am a restered member of ICAS which is one of the listed bodies. I have completed my examination. I confimi that no matters have come lo my attention in connection with the examination giving me cause lo believe.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, seth'on 44111{a} of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations", or the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts IS¢ollandl Regulations 2006,. or 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 'lrue and fair, view which is not a matter considered as part of an independent examination., or 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 accordan with the Financial Reporting Slancsard applicable in the UK and Republic of Ireland {FRS 102}.
Muir of Ord Development Trust Company Limited by Guarantee Independent Examiner's Report to the Trustees of Muir of Ord Development Trust (conlinuedj Year ended 30 April 2025 I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be leached. Other matters To the fullest extent permilled by law. I do not accept or assume SpOnsIbl11ty lo anyone other than the charity and the charities, trustees as a body. for our work, for this report. or for the opinions I have fomed. Daniel Palombo M.A.IHonsl, C.A. Independent Examiner Forbes House 36 Huntly Street Invemess IV3 SPR 29 Zo
Muir of Ord Development Trust Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 April 2025 2025 Restricted funds Total funds Total funds 2024 Unreslricled funds Income and endowments Donations and legacies Charitable activrties 1.450 116,592 118.042 50,342 51,792 116,592 38,638 105,935 144,573 Total income 50,342 168,384 Expendlture Expenditure on charitable activ.ities Total expenditure 112,064 26,945 139.009 1%,057 156,057 112,064 26,945 139,009 Net incomel{expenditurel and net movement in funds 5.978 23,397 29,375 (11.4841 Reconciliation of funds Total funds brought forward Total funds carried fonyard {31,39SI 125,4171 1,325,909 1,349,306 1,294,514 1,305.998 1.323.889 1.294,514 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The notes on paggs 9 to 21 fomi part of these financial statements.
Muir of Ord Development Trust Company Limited by Guarantee Statement of Financial Position 30 April 2025 2025 2024 Note Fixed assets Tangible Fixed assets 14 1,209,734 1,173,759 Current assets Debtors Cash at bank and in hand 15 8,432 122,763 131.195 18.466 114,639 133,105 Creditors: amounts falling due within one year Net current assets 16 17,040 12,351 114,155 120.754 Total assets less current liabilities 1,323,889 1,294,513 Net assets 1,323,889 1,294,513 Funds ofthe charity Reslricled funds Unrestricted funds 1.349,306 125,4171 18 1,323,889 1.325.907 {31,3941 1.294.513 Total charity funds For the year ending 30 April 2025 the charity was entitled to exemption from audit under section 477 of the Companies Ael 2006 relating lo small companies. DireclDrs' responsibilities.. The members have not required the company lo obtain an audit of its financial statements lor the year in question in accordanTr with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial slatemenls. These financial statements have been prepared in accordan with the provisions applicable lo companies subject lo the small companies, regime. These financial stslements were approved by the board of trustees and aulhorised for issue on and are signed on behalf of the board by-. F MacGruer Trustee The notes on pages 9 to 21 form part of these finarbcial statements.
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 30 April 2025 General Information The charity 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 Offi is The Muir Hub, Great North Road, Muir of Ord, IV6 7SU, Scotland. Statement of compliance These financial statements have been prepared in eompliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) Icharities SORP IFRS 10211 and the Companies Act 2006. 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 al fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern While the Iruslees, do not believe there are any material uncertainties over the charity's ability to continue, they are mindful of the fact that the unrestricted lunds are showing an overall deficit. They are actively looking for additional funding for iunning costs going fornard and are confident that this will be secured. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management lo make judgements, estimates and assumptions that affect the amounts reported. These eslimales 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. Signfficanl judgements The judgements lapart from those involving eslimalionsl that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows.. Key sources of estimation UnrtaInty Accounting estimates and assumptions are made nCÈrnIng the future and. by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of eslimalion uncertainty th31 have a significant risk ol causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows..
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 April 2025 Accounting policies fcontirtuèdj 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 eam)arked by the trustees for particular future project or commitment. Restricted funds are subjected lo reslriclions 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. Incoming resources All incoming reSoUrS are included in the statement of financial activities when enlillemenl has passed lo the charity., il is probable that the economic benefits associated with the transaction will Now lo 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 ils amount can be measured reliably. legacy income is recognised when receipt is probable and entillemenl is established. income from donated goods is measured at the fair value of the goods unless this is imptaclical lo measure reliably, in which case the value is derived from the cost lo the donor or the eslimaled 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 setvice. This is classified as unrestricted funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned if Ltnspenl, in which case il may be regarded as reslricled. 10
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements {con¢inued) Year ended 30 April 2025 Accounting policles {tontinued) Resources expended Expenditure is recognised on an aecruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the slalemenl of financial activities lo which il relates.. expenditure on raising fvjnds includes the costs of all fundraising activities, events. non-charilable trading aclivilies, and the sale of donated goods. expenditure on charitable activities includes all costs incuffed by a charity in undertaking aelivilies that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned lo charitable activities. other expenditure includes all expenditure that is neither related to raising funds lor the charity nor part of ils 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 beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded al ¢osl, and subsequently stated al cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded al the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Ars increase in the carrying amount of an asset as a result of a revaluation, is recognised in other fecognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure wilhin 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 lo 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 aclivilies. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less ils residual value. over the useful economic life of that asset as follows". Freehold property Plant and machinery Fixtures and fillings Motor vehicles 1V/o straight line 25Qkn straight line 20,10 slraighl line 20V/o Straight line 11
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements fcontinued) Year ended 30 April 2025 Accounting policies (conlinued) Impaim)ent 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 eXedS the recoverable amount, the asset is impaired accordingly. Prior impaifmenls are also reviewed for possible reversal al each reporting dale. For the purposes of imp8irment testing, when it is not possible lo estimate the recoverable amount of an individual asset, Sn estimate is made of the recoverable amount of the cash-generaling unil lo 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. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a paty lo the conlraclual provisions of the instrument. Basic financial instruments are initially recognised al the amount receivable or payable including any related transaction costs, unless the arrangement consb'lutes a financing transaction, where il is recognised at the present value of the future payments discounted al a market rale of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured al amortised cost. Defined contribution plans Contributions lo 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 10 2 reduction in future payments or a cash refund. Wnen contributions are not expected to be selued wholly within 12 months of the end of the reporting date in which the employees render the related servi, 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 il arises. Limited by guarantee Muir of Ord Development Trust is a company limited by guarantee and accordingly does not have a share capital. Every mèmber of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of il being wound up while he or she is a member. or within one year after he or she ceases to be a member. 12
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 April 2025 Donations and legacigs Unreslricled Funds Reslricled Total Funds Funds 2025 Donations Donations 1,450 1.450 Grants SSE Community and Renewables Energy Scheme ICARES) 10,051 10,051 39,491 Tesco Highland Council Muir of Ord Community Council Highlands & Islands Climate Hub Sustainable Spaces CO-OP 39,491 300 500 300 500 1.450 50,342 51.792 unstrICted Funds Restricted Total Funds Funds 2024 Donatlons Donations 18,442 18,442 Grants SSE Community and Renewables Eneigy Scheme 12,500 12.500 ICARESI Tesco Highland Council Muir of Ord Communrty Council Highlands & Islands Climate Hub Sustainable Spaces CO-OP 1,000 850 850 1.000 850 850 624 4,372 624 4,372 18,442 20,196 38,638 13
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 April 2025 Charitable actlvities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Muir Matters Salès Hall Rental Income Hub Rental Income Muir Matters Advertising income Gala Advertising income Recharge Income Gala income Events income Sponsorship income other income 2.015 24,957 25,873 3.400 540 7,622 38,957 1,628 10,700 900 2,015 24,957 25,873 3,400 540 7.622 38,957 1,628 10,700 900 2,323 27,720 29,212 3,868 1.020 9,237 32,419 736 5,400 2,323 21,720 29.212 3.868 1,020 9,237 32,419 736 5.400 116,592 116,592 105,935 105,935 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Muir of Ord Development Trust Support costs 107,659 4,405 26,945 134,603 4,406 112.064 26,945 139.009 Unreslricled Funds Restricted Total Funds Funds 2024 Muir of Ord Development Trust Support costs 115,103 3.476 118.579 37.478 152,581 3,476 37,478 156.057 Expenditure on charitable activities by activity type Activities undertaken directly Support Total funds costs 2025 Total fund 2024 Muir of Ord Development Trust Governance costs 134,603 134,603 4,406 139,009 152,581 3,476 1%,057 4,406 134,603 4,406 14
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements fcontsnued) Year ended 30 April 2025 Net incomel{expendtture} Net incomel{expenditure) is slated after chargingllcrediling}-. 2025 2024 Depreciation of tsngible fixed assets Loss on disposal of fixed assets 18.146 1,458 19,478 10. Independent examination fees 2025 2024 Fees payable lo the independent examiner for.. Independent examination of the financial statements Other assurance serVIS 3,596 810 3.476 4,406 3,476 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Employer contributions lo pension plans 24.071 213 29,917 1,643 24,284 31.560 The average head count of employees during the year was 412024.. 31- The average number of full-time equivalent employees during the year is analysed as follows". 2025 2024 No. Numberof staff No employee reTrived employee benefits of more than £60.000 during the year12024.' Nill. Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid lo key management personnel for serVIS provided to the charity was £11,79512024."£18,5961. 12. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 30 April 2025 13. Transfers between funds An amount of £nil 12024 £1.0381 was transferred from Unrestricted Funds in favour of the Highland Third Sector Interface Cooking Men's Shed restricted fund to cover the overspend on this fund. An amount of £nil12024 £1,000) was transferred from MOOFD Food YPI Reslricled Fund in favour of unrestn'cted funds lo Cover income misallocated to this project in the prior year. 14. Tangible fixed assets Freehold Plant and Fixtures and property machinery fittings Motor vehicles Total Cost At 1 May 2024 Additions Disposals At 30 April 2025 Depreciation At 1 May 2024 Charge for the year Disposals At 30 April 2025 Carrying amount At 30 April 2025 At 30 April 2024 1,250,243 7,705 55,579 16.7881 56,496 24,236 5,800 1.287,984 55,579 18,7881 5,800 1,336,775 1,250,243 24.236 84,717 12,502 5,789 2,710 15,3301 3,169 21,399 2,254 2,320 680 114,225 18,146 15,3301 127,041 97,219 23.653 3,000 1.153,024 53,327 583 2,800 1,209,734 3.480 1. 773.759 1.165.526 1.916 2,837 1S. Debtors 2025 2024 Trade debtors Prepayments and accrued income 7.543 889 12.875 5,591 8,432 18,46S 16. Creditors: amounts falling due within one year 2025 2024 Trade creditors Accruals and deferred income 6,611 10,429 17,040 6.455 5,896 12,351 16
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements {contsnuedJ Year ended 30 April 2025 17. 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 £21312024.. £1,643>. 18. Analysis of charitable funds Unrestricted funds Al 1 May 2024 At30 April 2025 Income Expenditure Tr8nsfeTS General funds 131,395} 118.042 {112.0641 125,4171 At 1 May 2023 At30 April 2024 Income Expenditure Transfers General funds 137,1541 124,377 {118,5791 {381 131,3941 General funds represent the 'free' reserves of the charity. 17
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements fcontinued) Year ended 30 April 2025 Restricted funds Al 1 May 2024 At Transfers 30 April 2025 Income Expenditure Restricted Fund SSE Big Lottery - Capital Big Lottery- Revenue Regional Screen Scotland- A Cinema Near You Highland Third Sector Interface- Men's Shed MOO Food YPI Highland Council Village Operative Filmbankmedia Restart Fund MOO Food Dandelion Fund Tesco Groundworks Highland Council 1,292.450 12,343 1,557 2,749 {12,5041 18,2331 1.279,946 4.110 7,557 2,749 155 155 1,457 2,086 11,4571 13201 1,766 7,315 11,0101 6,305 203 598 203 598 300 13001 Muir of Ord Community Council Highlands & Islands Climate Hub Sustainable Spaces CO-OP SSE- Solar Panels & Air Heat Pump SSE - 11.34 kwp Solar Panels CARES - Village Hall Nel Zero CARES- SoIar PV & Heat Pump 500 15001 624 4,372 11401 484 4,372 5,966 {3411 5,625 4.085 1163) 3.922 16,339 {6541 15,685 23,152 11,323) 126,9451 21.829 1.325,909 50,342 1.349,306 18
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 30 April 2025 Al 1 May 2023 Al Transfers 30 April 2024 Income Expenditure Restricted Fund SSE Big Lottèry - Capital Big Lottery - Revenue Region21 Screen Scotland - A Cinema Near You Highland Third Sector Interface - Men's Shed MOO Food YPI Highland Council- Village Opeotive Filmbankmedi2 Restart Fund MOO Food Dandelion Fund Tesco Groundworks Highland Council Muir of Ord Community Council Highlands & Islands Climate Hub Sustainable Spas Ctrop SSE- Solar Panels & Air Heat Pump SSE- 11.34 kwp Solar Panels CARES - Village Hall Nel Zero CARES- Solar PV & Heat Pump 1,305,120 13,653 1,557 2.749 112,6721 {13,8101 1,292,448 12,343 1,557 2,749 12,500 155 155 8.442 2,157 18,0231 929 1,038 11,0001 1.457 2.086 8,805 11,490} 7,315 150 11501 363 {1601 {402) (850} 203 598 1,000 850 850 18501 624 4,372 624 4,372 1,343,151 20.196 137,4781 38 1,325,907 Highland Council- BMX Track Refurbishment Funding from towards the resurfacing of the BMX Iraek in Muir of Ord for community use. Muir of Ord Community Council- BMX Track Refurbishment Funding towards the resurfacing of the BMX track in Muir of Ord for community use. SSE Funding trom SSE Windfarm towards Community Development Manager wst. Big Lottery - Capital Final capital payments from the Big Lottery for building maintenance in the Hub, used lo fix drainage issues. 19
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements (continvedj Year ended 30 April 2025 Big Lottery- Revenue Big Lottery funding towards Community Development Manager post. Regional Screen Scotland - A Cinema Near You Funding from Regional Screen Scotland to restart Muir Movies. HTSI Cooking Classes Funding from Highland Third Sector Interface for cooking classes. This project aims lo strengthen community connections and reduce barriers to participation in community cooking and baking activities by supporting people who have been affected by auslerty measures and the Covid-19 pandemic to purchase essential kitchen equipment. HIE Tourism Project Funding from to cale a package of events and marketing media that visitors, businesses and the commurlity can engage with throughout the year. HTSI Men's Shed Funding from for starbng a Men's Shed. MOO Food YPI Funding fron7 the Wood Foundation towards MOO Food project costs. Highland Council - Village Operatlve Funding from the Highland Council towards the Village Operative project. Filmbankmedia Restart Fund Funding from Cinema for All towards restarting Muir Movies. Moo Food Dandelion Fund Funding from Dandelion Community Grants Fund towards the Moo Food project costs. Tesco Groundworks Funding from Tesco Groundworks towards project costs Highland Council Funding from Highland Council towards the annual Pensioners Christmas Dinner. Muir of Ord Community Council Funding from Muir of Ord Community Council towards plants for events. Highlands & Islands Climate Hub Sustainable Places Funding towards the purchase of a dishwasher and crockery for the village hall. 20
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Financial Statements (conrfnue4Y) Year ended 30 April 2025 Coop Parents with Young Children Coop funding for children's toys and materials for the new Hub. SSE- 7.24KW solar panels & heat pump Funding towards the installation of 7.24KW solar panels and heat pump. SSE- 11.34KW solar panels Funding towards the installation of 7.24KW solar panels Community & Renewables Energy Scheme ICARESI Funding towards the installation of solar panels Community & Renewables Energy Scheme (CARESI Funding towards the installation of an solar panels and heal pump. 19. Analysis of net assets between funds Unrestricted Funds Restricted Totsl Funds Funds 2025 Tangible fixed assets Current assets Creditors less than 1 year Net assets 6,439 114,8161 117,0401 {25,4171 1,203,295 146,011 1.209,734 131,195 117,0401 1.323,889 1,349,306 Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 2,532 121,5771 112,3501 {31,3951 1,171,227 154,682 1.173,759 133,105 112,3501 1,294,514 1,325.909 20. Operating lease ¢ommitments The total future minimum lease payments under non-cancellable operating leases are as follows.. 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years 686 2,400 3.086 21. Related parties No Trustee or other person related lo the charity had any personal InteSt in any contract or transaction entered into by the charity during the year12024 - £nill. 21
Muir of Ord Development Trust Company Limited by Guarantee Management Information Year ended 30 April 2025 The following pages do not form part of the financial statements. 22
Muir of Ord Development Trust Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 30 April 2025 2025 2024 Income and endowments Donations and legacies Donations SSE Community ancl Renewables Energy Scheme {CARES} Tesco Highland Council Muir of Ord Communty Council Highlands & Islands Climate Hub Sustainable Spaces Co-op 1,450 10,051 39,491 18,442 12,500 1,000 850 850 624 4.372 300 500 51,792 38,638 Charitable activities Muir Matters Sales Hall Rental Income Hub Rental Income Muir Matters Advertising income Gala Advertising income Recharge Income Gala income Events income Sponsorship incorne Other income 2,015 24,957 25,873 3.400 540 7.622 38,957 1,628 10,700 goo 2,323 21,720 29,212 3.868 1,020 9.237 32,419 736 5,400 116,592 105,935 Total income 168,384 144.573 23
Muir of Ord Development Trust Company Limited by Guarantee Detailed Statement of Financial Activities (tonfrnued) Year ended 30 April 2025 2025 2024 Expenditure Expenditure on charitable activities Purchases Wages and salaries Pensic>n costs Rates and water Light and heal Repairs and maintenance Insurance Other estsblishmenl Motor vehicle expenses Olhei rnolorltravel costs Legal and professional fees Telephone Olhei office costs Depreciation Loss on disposal of fixed assets t)onations m2de Bank charges Marketing and consultation Sub-¢Dnlractor costs Volunteer costs Bad debts Events expenditure Sundry expenses Grant paid Catering and entertainment costs 164 24,071 213 2,250 21,368 8.150 5.094 1.225 1,211 168 29,917 1,643 1,477 30.263 8.828 5.388 1,065 475 19 9,672 2,998 3,976 19,478 4,640 1,817 3.203 18.147 1,458 175 655 908 648 2,070 1,104 528 495 38,772 50 11.0001 107 41,655 159 262 139,009 156,057 Total expenditure 139,009 156.057 Net incomellexpenditurel 29.375 111,4841 24
Muir of Ord Development Trust Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 30 April 2025 2025 2024 Expenditure on charitable activities Muir oford Development Trust Activities undertaken directly Purchases Wages and salaries Pension costs Rates and water Light and heat Repairs and maintenance Insurance Subscriptions Motor expenses Travel expenses Legal and professional fees Telephone Other office costs Depreciation Loss on disposal Donations made Bank charges Marketing and consullalion Subcontractor costs Volunteer costs Bad debts wrillen off Events expenditure Sundry Expenses Grants paid Catering and entertainment costs 164 24.071 213 2,250 21.368 8,150 5,094 1,225 1.211 168 29,917 1,643 1,477 30,263 8,828 5,388 1.065 475 19 6,196 2,998 3.976 19.478 234 1,817 3,203 18,147 1,458 175 655 908 648 2.070 1.104 528 495 38,772 50 {1,0001 107 100 41,655 159 262 134,603 152,581 Governance costs Governance costs - accountancy fees 4,406 3,476 Expendlture on charitable activities 139,009 156,057 25