CHARITY REGISTRATION NUMBER: SC04S211 An Ealdhain Arts Trust Unaudited Financial Statements 30 November 2024 R A CLEMENT ASSOCIATES CHARTERED ACCOUNTANTS Chartered ac"?Linlants An Ealdhain Arts Trust Financial Statements Year ended 30 November 2024 Page Trustees, annual report Independent examinerfs report to the trustees Receipts & paymenls account Statement of balances Notes to Ihe financial statements An Ealdhain Arts Trust Trustees, Annual Report fconiNnued) Year ended 30 November 2024 The Iruslees presènt their report and the un&udiled financial statements of th6 charity for the year onded 30 November2024. RèferenGe and admlnistrativè Iletails R8glstered charity name Charity registratlon numbèr Principal office An Ealdhain Arts Trust SCO45211 The trustges Independent examiner 5 Argyll Scuare Oban Argyll PA34 4AZ Structuro, governance and managem9nt Risk policy The trustees have assgssed the major risks lo which the charity is exposed, and in particular Ih05e related to Ihe operations and finances of the Trust, and are satisfied thai systems are in place lo miligale any exposure lo these risks. Rgserves policy The policy of the Trust is lo aim lo re18in 5ufficiènl ￿serveS to meel the cost of any regular commitments. as well as 8 contingency lo enable il to continue to develop further projects. ObJectlve8 and activltie$ The eharity was eslablk8hed for the advancement of the visual arts and the education of the public in the understanding and appreciation of the art in gene￿1. Achlev9ments and performance Now that Ali 8eradelli and Viv MacDonald have joined the board a new dynamism and energy has burst into the Trust. With plans both for an exhibition in March 2026 and an ongoing arnbltion to identify a location for exhibition and makers spaces here in Fort William. There are no shared makerfs spaces if) this region and few relevant exhibition spaces. Jacqueline Watt and Karen MacGregor have both agreed to step down from the board and Karen will resign as a signatory once Viv and Ali have been appointed sisnatorie5. An Ealdhain Arts Trust Trustees, Annual Report Iconllnu•d) Year ended 30 November 2024 It was agreed that Ali50n Berardelli and Vlvien MacDonald be appointed as co si8natories on the bank account. Financlal revlew Unr8slricled funds carried forward of £624. Plans for future periods The causo continues lo bg 88 important as when we started. The trustees, annu81 report was approved on .i.-./i.z ..￿..*5-. and signed on behalf of the board of trustees by.. An Ealdhain Arts Trust Independent Examinerfs Report to the Trustees of An Ealdhaln Arts Trust Year ended 30 November 2024 I report lo the tmslee5 on my examination of the financial slalemenl$ of An Ealdhain Arts Trust I'lhe charity'l for the year ended 30 November 2024. Rgsponsibllilies and basls of report As tho Iruslees of the charity you are responsible for the preparation ol the financial st81emenls in accordance with the requiremenlg of the Ch8rities Act 2011 ('Ihe Acl'l. l ￿pOrt in respect of my examlnation of th& charity's finaneial slal8menls Carried out under seclion 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dire¢lions given by thè Charity Commission vnder section 145151{bl of the Act. Indopend9nl gxamlner's statement I havg completed my exarninalion. I confim th81 no material mallers have come lo my attention in connection with the examination giving me caus6 lo believe that in any material respect.. accounting records were not kept in respect of the charity as requireil by section 130 of the Act- or Ihe financial slalemenls do not accord with those records., or Ihg financial statements do not compty with the applicable requirements concerning the fomi and conlenl of accounts sel out in Ihe Charities (Accounts and Reports) Regvlalions 2008 other than any reqLtirement that the accounts give a 'lrue and 18ir' view which is not a maller considered as part of 8n indeptsndent examination. I have no concerns and have come 8¢ros5 no other matters in connection with the examination lo which allenlioTr reArhpd ould be drawn in this report in order lo enable a propgr understanding ol the accounts to b An Ealdhain Arts Trust Statement of Financial Activities Year ended 30 November 2024 2024 Unreslricled funds Total funds Total funds 2023 Expenditure Expenditure On chorilable 8clivilies Total expgndilure Nots S30 530 530 530 Net expendlture and net movement in funds 15301 15301 Reconcillation of funds Total funds brought fornvard Total fund$ carrled forward 1,154 1.154 1,154 624 624 1,154 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive frorn continuing activiligs. The notes on pages 6 9. form part of these financial slalemenls. An Ealdhaln Arts Trust Statement of Balances 30 November 2024 2024 2023 8a18nce ag 8t 30 Novembgr 2023 Paymgn15 Balan¢& as at 30 Novernbgr 2024 1,154 1,154 1530} 624 1,154 Current Assets Other debtors 289 289 Liabllrties at yoar end Inllependenl examination 240 240 These f nancwl slalemenls were approved by the board of Iruslees and aulhon$ed for issue on .￿&￿, and are signed on behalf of the board by.. The notes on page$ 6 9. form part of these financial slalemenls An Ealdhain Arts Trust Notes to the Flnancial Ststements Year ended 30 November 2024 General informatlon The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the princip81 office is Tirindrish Sieading. Spean Bridge, PH34 4EU, Invemess-5hire. Statement of compliance These financi81 slalemenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Sialemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 1021) and the Charities Act 2011. Accounting policles Ba$ls of preparatlon The financial slalemenls have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial statements are prepared in sterling, which is the fvnclional currency of the enlily. Golng concern There are no material uncertainties about the charity's obilily lo continue. Disclosure exgmptions he enlily satisfies the criteria of being a qualifying enlily as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 ofFRS 102 lal No cash flow slalemenl has been presented for the company. Ibl Diselosures in respeel of finaneial instruments have not been presented. Fund accountlng Unrestricted funds are available for use al the discretion of the trustees lo further any of the ¢harily's purposes. Designated funds are unreslri¢led lunds earmarked by the Iru51ees for particu18r future proje¢l or commitment. Reslricled funds a￿ subjected lo reslriclions on their expenditure declared by the donor or through the lemis of an appeal. and fall into one oftwo sub-classes.. reslricled income funds or endowment funds. An Ealdhain Arts Trust Notes to the Financial Statements (¢Onllnued) Year ended 30 November 2024 Ac¢ountlng policies (cortllnuety) Income All income 18 included in the slalemenl of finaneial activities when enlillemenl has passed lo the charity, il is probable that the economie benefits agsocialed with the transaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories of income.. ineome from d¢nalions or grants is reeognised when there is evidence of enlillemenl lo the gift, receipt is probable and ils amount can be measured reliably. legaey income is recognised when receipt 1$ probable and enlitlemenl 18 established. income from donated goods is measured at the fair value of the goods unless this is impractical 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 service. This is classified as unreslri¢led funds unless there is 8 ¢ontraclual requirement for il lo be spent on a particular purpose and returned Il unspent, in which case il may be regarded as reslricled. Expenditura Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully fecovered, and is classified under headings of the statement of financial activities lo which il relates.. expenditure on raising funds includes the costs of all fundraising *¢livilies, events, n¢n- charitable trading aclivilies, and the sale of donated goods. expenditure on charitable aelivilies includes all costs incurred by a charity In undertaking activities that further ils charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned lo charitable aelivilies. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of ils expenditure on charitable aclivilies. All costs are allocated lo expenditure categories ￿fleCtIng the use ol the resource. Direct costs attributable lo a single activity are allocated directly lo that aclivily. Shared costs are apportioned between the activities they contribute to on a reasonable. justifiable and consislenl basis. An Ealdhain Arts Trust Notes to the Financial Statements (contlnued) Year ended 30 November 2024 Expendlture on charitable actlvities by fund typè Unrestricted Total Funds Unreslricte(l Total Funds Funds 2024 Funds 2023 Support costs 530 530 Expenditure on charitable activitles by activlty type Total funds 2024 Total fund 2023 Governance costs 530 Independent gxaminatlon tee$ 2024 2023 Fees payable lo the independènt examiner for.. Independent examination of the financial statements 530 Analysis of charitable funds Unrestricted funds Al 1 December 2023 Expenditure At 30 November 2024 General funds 1.154 15301 824 Al 1 December 2022 Expenditure Al 30 November 2023 General funds 1,154 1,154 An Ealdhain Arts Trust Notes to the Financlal Statements (con￿n￿e￿j Year ended 30 November 2024 Analysis of net assets between funds Unreslricled Total Funds Funds 2024 Current assets 624 624 Unreslricled Total Funds Funds 2023 Current assets 1.154 1,154