ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Soclety RegSstratlon No. 77121Scotlandl Charity Registration No. SC045503 {Scolland)
OBAN COMMUNITIES TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru8tee$ Mr Neil Mccorrisken Or Skcey F91gate Ms Angela Hobbs M$ Kfjtheen C1058 (Appointed 29 O¢Xober 20251 (Appolnlod 29 October 2ty25} S¢¢rgtary Charity number IS¢otlandl Ms Kirsleen Close SC045503 Princip•l address The Rockfield Centre Rookfield Brae Stevenson Street Oban PA34 5DQ Audltor Wllliam Duncan + Co (Audi Ltd Eller81ey House 30 Miller Road Ayr Ayrshi18 KA7 2AY Bankern Bank Of Scotland The Direct Business PO Box 1000 PX21LB
OBAN COMMUNITIES TRUST CONTENTS Page Truste8 report Slalement of TN8tee re8ponsibilille$ Independent auditors report 8-11 Stalem8nt of financial athitles 12 Balance sheet 13 Stalemenl of cash flows 14 Notes to the financial statements 15-29
OBAN COMMUNITIES TRUST TRUSTEE REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trust8as prasent thèir annual report and financial statements for the year ended 31 August 2025. The finaneial stat&mènts h8v9 been prepared in g¢¢ordance wtth the accounting policies $el out in note 1 IL) the financial st8temènls and comply with the charills governing duMent, the Charities and Trustee Instment (Scollandl Acl 2005, the Charities Accounts (Scotlandl Regulations 2006, FRS 102 "The Finan¢ial Reporling St8ndafd applic8ble in the UK and Republ of Iieland" and the Charities SORP "Accounling and Reporting by Ch8rilies.' Statement of Reeommended Pra¢ticE applicabl& to charities prgparing their accounts in aecordancg with the Flnancial Reporting Standard applicablè in the UK and Republic of Ire18nd IFRS 102).. hen a new eoard of Trustees Stepped In just before the Start of the 24125 financial year. the future of the Centre was f8r from Cartain. 81 has happened since then is a powerful T8minder of what a community can do when people choose lo shL)w up, roll up their sleeves, and care about something together. This is not just a story of organisational recovery, but of wlledive effort. Staff. volunteer8, artists, audiences, and supporters have all played a part in reshaping what Oban Communities Trust is, and what rt can b?. Th8 decisions we hav& tsken have rarely begn easy, bul eath one has been guided by a shared commitment to keeping the Trust's assets open, relevant, and rooted in the community that thay serve. Through tha transformation of the café intg g self-service community space, the creation of sustainable trading mod&l. and thg steady return of aotivity to the maln building, wè have se8n examples of what can be achieved when people work together WTth clarity and purpose. This Tru$l'$ commitment lo the arts, culttsre. wellbeing, h8rilage, and education helps us shape a programme that is not only ¢aliVe, but meaningful supporting learning, preseNng local identity, and contributing to overa wellbeing in our community across all three of our assets. Il's easy to forgèt that what we commonly term 'The Rockfi&ld Cenlre, has orown over the years into a nurnber of separate projects,, Thè Ro¢kfield Centro conlinues to nurture its role as 8 home for the arts, culture, and h8ritage, ¢r&aling space for live rnusic. theatre, and shared cultural experiences that bring people together in ways Ihal a immediate, human, an¢J mefflor8ble. These moments ofcollgdivfr expfrrience arg a wtal part ofwhal make5 The Rockfield Centre morè than just a buildirbg, and ar• what convince us daity ol ils importance. The Rockfield Garden has seen a massive transformatson over the past ts¥o year$, mowng from dereli land to 8 productive, flourishing communlly garden overse&n by a team passionate people who collectively pul in 1000s of hours of volunteer lime each year. Th• Rockld Charity Shop continues lo promde a vilal source of unrestricted income for the organisalion, whil& also offering affordable good5. SUPPOrting rause, and ue81Sng a space where people can Contribute. connèct. 8nd be part of the Cenlrè in a different way. hal has bn most striking, looking back. 1$ not just th8 progress rrrade but th8 spirll Sn whlch It has been made. The building feels lived in. Nol just open but ne8dèd. In a b.me when lon•ling$s and isolation are increasingly part of &Vgryday lrfe and costs are rising oxponentially, the Trust offers somelhlng simple but tal.. pla¢es to go. reasons to leave the house, and the chance lo feel part of something. The Board would like to thank everyone who has contTibutgd this y8ar- whether through time. creativity, energy, or support. The Roekfield C&ntre. Garden, and Charity Shop belong lo the cornmunty, and the pa$t h¥0 ye818 have $hown ju51 how strong that commLsnity can be. We look forward lo buildin9 on this momentum in the years lo come.
OBAN COMMUNITIES TRUST TRUSTEE REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 ObJec11v96 and a¢tivltle$ Oban Communitiès Trust e$15 lo provide an inclvsive. cr8ativ8. and welcoming space for the communlty of Oban and surroundin9 areas. Our aim Is lo reduce isolation. improve WeIbe9. and create opporlunitigs for connection through arts, culture. and shared experiences. The Trust was est8blished by the cornmunity lo take fOard their wish to cr8019 a communlty cultural hub providing Spa to members of the Ioc81 comrnunily to meet. as well as CTgating and supporting activity through 8 programme of acllvilies followlng our Charrtab objectives. whith are.. the advancement 0fMMnIty development in the Oban area of Argyll the advancgrnent o18rts, hèritag8. culture, and èducation In 2015, the Trust purch8$&d the srte and building known as The Rockfield Centre from Argyll and Bute Council and began the lourney to develop thè former Victorian primary school to provide opportunities for all to become involved in four core themes: Community wellbeing Arts and JItUTe Education and onlerprise Hislory and heritage During the 2024125 financial year, the Cenlre has ntinUed lo rebuild. stabilise. and grow its prograrnme folbwlng peri¢xl of significant organisational challenge. Pubk beneflt The Tiustees have paid due reg8rd lo guidance Issutrd by th8 Charity CommSs$wJn in dectding whal 1VIlieS the harty shoukl undertake. A¢hlevements and pgrfomian¢e Significant 8ctivities and achievennIs against obiecllves During 24r25 FY, the Trust undertook a subslanlial expansion in both the scale and diversity of 8ttiwty delivered al the Rockfteld Centr&. Exlsithg activities continued lo prosper, incluilSng-. A regular programme of cultural events including live music and theatre Herttage Blethers. which keep lo¢al heritage alive and relevant in our community Shinty Craic sessions, bringing the l(xal shinty Communty together over shared memories Awe8kly gardening group, which continues Its produce oulstandlng progress in the Rockfiehj Garden. A weekly Community soup lunch, prowding an affordable opportunity for people lo come together over a shared meal Arts and crafts sèsslons, Includlng a bFweekly knittlng group. a monthty arts socAal, and wg•W knd's arts and crafts drop-in sesslons. W* also worked with th9 D)mmunly to develop new slr8nds of activity, Induding= Create Wlth Jake, fortnighly. acce8slblg, infom1818rt workshops suitsblg for all levels Community Meals, regular Iow•cosI dinners thal combat loneliness and bulld community Take the Stage. a mDnlhly open rnic night providin9 OPPOrtunilies for performgr5 lo build ¢onffid8nce and learn slagecr8ft P8nacfra Poetry, a monthly Spoken worij nighl Story Stoiridh. a quarterly tradilional storytelling event Filrn Club, a monthly film program which Includes documentsries and guest speakers The Big Qu6z, a monthly famlly-friendty quiz night that brings people together. NT tive. a monthly live theatre èvenl streamed from London's Wesl End
OBAN COMMUNITIES TRUST TRUSTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 We piloled a number of family-friendty 'f&slival$' _ ono day events aimed al brrnging people together around a $hargd intergst.. Family Funday Iseplembgr 2024}- a day focussed on 'doors-op8n' and bringing the communty back lito the Centre. featuring kid'5 arts and uafts, a bouncy castle and soft p18y, a sensory room, and a film room. SOULsli¢e {Dèc 20241- 8 day focussed on community wellbeing with sound b3lh5, yoga, arts and ryafts. rire pits, sha meals, and live DJS. Spring Festival (May 20251 a day locussed on skate cutture, featuring e-skateboards, spray pairiting, a livo rnural from artist Ruiridh Lister Campbell, kid's arts and craft5, a burger popup. and live DJ$. The Rockfield Centre became a more consislenl and reo)gnlsable hub for 80cial and eatP acMIY in the area. The impact of Trust's work 15 best understood through the con5iStenGy of engagempnl tho dIr$Ity of people attending. Across the year, we.. Increased regular attendance across muftiple programmas Re-engaged indiwdua15 expeden¢ing1501alion Cfealed accessible entry points forthose new lo arts and community actiwty Provided Iow40St and free opportunitie5 in a lime of rising living cost Feedback from participants highlighted the iMportae of the Rockfield Centre and Garden ss.. Spaces for ¢onnedion and belonging Supportive and wel¢i)ming environments A regular fixtuie in people's weekly routines Oban Cornmuniti8s Trust played a vital role in community w&llbèing in Oban and the $urroundin9 ar8as.
OBAN COMMUNITIES TRUST TRUSTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Flnancial revi•w The organisalion operated wlhin a challenging financtal enwronment during the 2024r25 FY. but Careful financqal management en8ts1ed th8 organisallon lo malntain operations whlb r¢building ffinanci81 stsbillty. Key pofjnts: Finanual management was brought In-house on 1st September, 2024 (first day of the new FY), allowiig much closer oversight of the Twusl's finance5 and irnmediats aesS lo finan¢i81 information. The Trust spent £45,OCN) on historic debt repayments, clearin9 unpaid debts to SSE 1£15,8241 arKI HMRC 1£13,2021 whilst servicing 'recovery loan repayments due lo Social Invgstment Scotland 1£14,7591 the Co-op 8ank1£2,0001. Incovne wa5 gen8rated Pfimarity vla trading, with only 17Qh of our income comlng from grant5. Core costs, particu18rfy ènergy and insurance. have remained hKJh. whilst routine mainlenance spendlng Incr&a$ed to account for work which was overqlue or had not previously been undertaken Despite Ihls. in relation lo nStricted funds the Trust produced a m(lest operaÉin9 surplus of £6.991. excluding unre8tric18d deprgciation of £7,928 8nd £10,720 in relation to the reassessment of an aeeounllng eslim8te. Durlng thls periocl.. The Board fo¢ussed on creating a 5ustsln8ble operatlryj model whlch supported cor9 o)$ts in ways 11Nql added clear benefll lo the local comrnunlly Trustees maintained operation81 oversight and were far mor& handswon Ihal would nomi8lly be expected from a Board of DI¢10[$. This included tho daptOaY management of Centre 8ctlwlies and staffing of income g8nerating events. The Devèlopment Trust Association for Sco118nd IDTASI removed Oban Communitles Trust from thelr Crisis List- a turning point in how th8 Trust Is perceived wthin Ihe sector. The org8nlsation benefited from a committed t¢am of staff and volunteers who conlrlbulgd slgnfficanlly to lis Success Sn 24125. Everyone involved should feel extremely proud ofwhal was hlve. We are aware that Ihg speed at which very necessary thange look place resumed in 8omg lOnle(M volunteers and supporters of Ihe Trust feeling disenfranchised, and this 1$ regrettable. We hope that, in hindsight and with Ihg above information in hand. il is now dear that we acted prudèntly and in the best interests of the Trust and, by exlension. the wider Community. Reseryes policy The policy of the Societyls to aim to retsin SLfficient $88S to meet the cost of any regularcommilmgnts, as well 39 8 conling&ncy to enable it to continue lo develop further projects. The n9t balan¢x of reslrirted reseNes al year open (1st September 2024} w88 £2.769,570 mving to £2.629,897 81 year end13151 August 20251. The nel balance of unrestricled serVeS at year op8n WBS in a deflch of £81.608. moving to £31.453 al year end. This includes a Ifansfer of £61,612 trom restricted lo unrèstricted fvnds. whic is a result of the reassessment of Ihe ielevanl funds by thè trustses durlng the year and their 8grgement lo iecord the transfer belwgon funds in the 31 Augusl 2026 year end financial statements. MaJorrisk$ The board have assessed the major risks to which the charity is exposed, and in particular Ihos9 rElale(I to the oper81ions and finan¢es of the Society. and are satisfied that syslems are in pLqce tg rnitig8le èxposure to these risks. Like many ¢harilies, there is uncertainty aiound grant lunding and the ability lo support continu81 growth plan dgv8lopmenl.
OBAN COMMUNITIES TRUST TRUSTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Community Share8 The Trust may raise share capital lo pursug its objectives for the benefit of the community. Any payment of interest on the shale capital should be limited lo the minimurn neSSary lo obtain the Capital required. The rate of interest must bo de¢lared in advan¢* of tho p8riod for which the interest is payable and the Board musl be aiAe to justify Ihe rate by ference to th8 8vail8bbg commercial rates for borrowing. Any payment of interest is treated as an expense of the Twst befofe cal(latIo}n ol any surplus. Plans for fulure p•rfod8 In November 2025. the Trust hi an Operats"ons Manager {Alison Craig1 toload on day-to-day delivery. This hire represented a significant step forward for the Trust, and 8llowed th& Trustees lo focus on strategy, goveman¢e, and non-trwJ¢d in¢9 gengr81ion. Since then, Ihe Trust has undertaken a full review ol all govemance and health and safèty polieies and procedurès, (xèaled a five•ye8r strategic devebpment plan. and embarked on a number of 18rg&r-8c8le grant applications lo Support new delivery. Other staffing changes have also takgn place. We reuufted a new Flnance Manager {Chris Oliver) lo replaee Jake Mclnnes, who stepped down in Summer 2025. The Trust owes g debt of thanks to Jake for her tirel8ss •lforts as w8 worked together lo stsbilise our financial situation. and we wish her w811 in all future &ndeavour$. We also recruited a Ga81 Heritage Officer, as part of our long-lerrn strategy for both Gaelic language and Heritage provision. Al the Same tirn8, our long-serving Volunteei and Booklngs Cooidinalor ITeagan Mccuish) transitioned into a new, nTh)re odminislralive rol&- that of the Centre Coordinator- where she cofttinufjs to be cenlrai lo day-l(aY operattons. We have Continued to build, and focussed on facili181ing a range of new community-led adNi11g$. many of which are undertaken in parinership with other individuals and organisations, including.. Weekly CommuntyAcupuncture OfQP-Ins (previously run byArgyll WelltEing Hub) Weèkly Gaelrc Youth Choir Weekly Sa15a Classe5 Monlhly Language Meol Bi-monthly Death Café Photography CoLbrsès Art courses Public Talks Series Yoga Class9$ We recognisa the tmendOuS value of volunteèr time lo the organisation, to thos8 who eThJagè In it, and are mmitted to bettering our volunleer offer and ensuring that anyone who gives their limo, knowledge, skills. and energy lo the proje¢l frels valued, supported, and part of a communty. Undedining our commrtmenl lo th. we are in the procsss of appointing a Community Engagement and Voiunteeiin9 1)ffi¢er who will focus on r+launching volunteerism 8cr055 the Trusys assets. The focus mowng fOard is consolidating recent progrèss while bull ding a resilienl gnd 8ustslnable future for the centre. We hope that you will join us on that journey, in wh8lever way you can. Structure. governan¢o And management The charity is govemed by its con$tilulion. The charity was constltuled •$ a company limited by guarantee until 2nd February 2018 when il converted lo a charitable Community Benefit Society, limit6d by sha9 wtth a nominal value of £1 each. The Souely is owned and controlled by ils Members. All members have one vote Tegardless of the numbe of shares held.
OBAN COMMUNITIES TRUST TRUSTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Thè Tru5t88s who 5eNed during the year and up to the date ol signature of the financial 8t8tements were.. Ms Karen Lindsay (Resigned 25 January 20261 Mr Neil Mccorrlsken Mr Roderick Gillies Dr Stacey Felgate Ms Renuka Ramanujam Ms FK>n3 Shaw Ms Beth Chalm¢rs Ms Angela Hobb5 Ms Kirsteen Close (Appoinlgd 27 Novemb8r 2024 and gned 29 October 20251 (Resigned 29 October 2025) (Resigned 4 April 20251 (Resigned 11 September 2024} (Appointed 29 October 20251 {Appoinl&d 29 October 20251 Re¢nNtm8nt and appointment of twstees Tru51ees are elected at each Annual General Meeting by Ihe members present with a miniwnum of 4 and 8 maximum of 8. The initial trustees of the Society were appointsd by the Founder Members. At the Annual Gen8ral Meeling, one Ihlrd Of the elected trustee$ sh811 retlre from office, belng thoso trusts8$ who have been lonpst in office. A retlring trustee is ellgSblfr for re-elect. The board of trustees may COvOPt up to external trustpes. who need not be mFmbgrs, but are selected foi special skills or experfence. They shall Serve a fixed per subject to r8view every 12 months. Exlemal Ind8pendent Truslees may be fernoved from office at any time by a SOlUtion ol the Board of Truslees. Any ¢asu81 vacancy during the ygar may be filled by the board by crption. Such co-opted indiidual$ musl be member8 of thg society and will hold office only until the next 8nnu81 general meeting. The Twstees meet al least rnonlhly to dl$cu55 bu5ine55 slralegy. pgrtinenl business and rewew finances. The day lo day opeialions are undertaken by thè small staff team led by ihe Head of Operations, with the assistance of th Board of Trustees. Auditor In acctsrdance with th8 Company's artSclg$, a resolution proposing that Willl8m Duncan + Co (Authll Ltd be reappointed as auditor of th& company w511 be pul at a General Meetlng. The Trustee report was approved by the Board of Trustees. Ms r$teen Close Sg¢rtsry Dr Stacey F Trustee ate..
OBAN COMMUNITIES TRUST STATEMENT OF TRUSTEE RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST2025 The Trustees are responsible for pParing the Tru51ee Report 8nd Ihe finanaal stslgments in acwrd8iKe with applicable law and Unrted Kingdom Accounting Standards (Unrted lfjngdom Generally Accgpted AcLx)unting Practice). The law appllcable to charities in Scolland requires the Trustees to Prepa financial $talemen15 for &ach financl81 year which give a tnje and fair view of the Sta of affairs of the charity and of the Incoming resources 8nd application of resoukce8 01 the charity for that year. In preparing these financial stalements, the Truslees are required lo.. select suitable accounliny policies and then appty them consistently: - observe the methods and prinuples in the Charities SORP.. - make judgements and estimates that ¥re 8$Onable and prudent.. state whether applicable accounting standards have bogn followed, subject 10 8ny material depwlures disc105ed and explained in the financial stalgmenls; and prepare Ihe financial statements on the going eoncem basis unless it is inappropriate to presum that the charity will continue in operallon. The Twslges ar8 responsible ftsr keeping sufficient 8¢counting records that disclose with reasonable accuracy al any time tre financlal posi11gn of the chaiity and en8blg th8rn ID ensure that the financial slalements comply with the Charrti•s and Trustee Investment IS¢otEandl A¢t 2005, the Charities Accounts IScotland} Regulations 2006 and the Co-OP8rativ8 and Community Benefrt SocAetie5 Act 2014 8nd the prowsion5 of the trust deed. They ate also responsible for safeguarding the assèts of the charity and hence f tsking reasonable steps for th& prevention and detection of fraud and other irregularities. In so far as the Iruslees ar8 aw8rg'. - there is no relevant aLKJit inforrnation of which thg Charitab cornpar)y's audiloi is unawar8,' and the trustee$ have tsken 811 steps they ought lo have tsken lo make Ihemselves awar8 of any relevant audii information and lo establish that the au¢Jilor is aware ol that inforrnation.
OBAN COMMUNITIES TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF OBAN COMMUNITIES TRUST Qualifkd opinion We have audil8d the financial statements of Oban Communiltes Trust (the '¢harMy) for Ihe year ended 31 August 2025 which CompSe the statement of ffinancial 8clivities. the balance sheet. Ihg Statement of cash flows and note5 to the financial stslernents, including sKJnSficant accounting policie$. The financial reporting framework that has b8en applied in their pfep8r8tion is applicable law and United lQngdom Attounting Standards, induding Financial Rfrporting Standard 102 The Finanal Reportlng Standard applioable In Ihg UK and RepubK¢ of Itpland (United Kw)gdom GenerallyAceepled Accountlng Practice). In our oplnlon. except for the effe$ of the matter des(Yibed in the Basi$ lor QUalifd Opinion section of our report, thg financAal slalements.. glve a true and f8lr view of the stale of the cherity's affairs as al 31 August 2025 and of ils incomin9 rewurces and application of resources, for the year then ended". have been properfy prepared in ac£ordance with United Kingdom Generally Ac¢epted A¢ntIng Practice,. and have been pr&pared in accordance with the Co-operative and Community Benefrt Societies Ael 2014 and the Charities and Trustee Investment (Scollandl Act 2005 and regulation 8 of the chare$ Accounts Iscotlandl Regulatlons 20(. Ba$ls for qualified oplnlon The Currenl carrying v81ue of the freehold propeity in the finanal statements ot 31 August 2025 is al cost less deprecIatn, which is £2,625.776. The last valuation of the propgriy was carrietj out orb 11 March 2W24. which valued Ihe property at £900,000. There have been no adjustments made lo the carylng value of the freehohj property in the 31 August 2025 year end ffin8nc181 statements lo rellect IhS$ most recent valuatw)n. under FRS 102 the lower valuatlon is an inlicalor of the property being impaired in v81ue, and without any furlher available Information to suppgrt the current c8rrying value our opinlon is qualified on this m8tter. We (onducted our audit in accordan¢x with International Standards on Audlling (UK> (ISAS IUKI) and applicable law. Our r8sponsibililies undèr those standards are fvrther desuibed in Ihe Audit,$ responsibilities for the audit of the financial 5tatementg section of our report. We are independent of Ihe charity in accordance with the #lhical fequiremenls that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have ftilfilled our othèr elhlcal responsibilitie5 in accordance with these r¢quiremen15. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our qualified opinlon.
OBAN COMMUNITIES TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OBAN COMMUNITIES TRUST Materlal un¢grtalnty r•lated to going concem We draw your attention lo the going con¢ern accountin9 policy al note 1.2 in the financial slalemenls, which details that Ihe Trust had a net deficit of £89,518 durlng the year ended 31 Avgu$t 202512024.. nel d8ficil of £46,296) and a5 of that dale the Twst had net current liabilities 01 £184.787 12024.. nel currant liabilities of £161.5521 and nel assets of £2,598,444 12024." nel assets of £2,687,962) that included negative unrestricted lunds at 31 August 2025 of £241.753 {2024.' negative 91.908). The Trust has rnad9 a defi¢it in the post yeai end period to 31 March 2028 and is forecasting a deficii for th8 17 rnonth period ended 31 ALpJusI 2027. However the forecasts show there is sufficient available ¢a5h during the perN ended 31 August 2027, on the basi5 that actual ptrrformance is in line with tha forecasted iesulls and lor the deb15 where there are no defined iepaymenl lemls the repayment of these is expecled to be in linè with th8 repaym@nts included in the forecasts. If the OrManCe of the Trust is not in line with their forecast5 or early rep8ymenl Is required in relation to any of the debts. then the Trust may have insufficient funds to meet their creditors as they fall dug. These evenl$ or nditions, along with other matters as sel forth in the going conc9rn accounting policy al note 1.2 indicats that a material uncertainty exists Ihat may cast significant doubt on the Company's abdity to continue as a going conc&m. However thes& financial slalements have been ppared on a going nCern bBSig based on the folltiwng= The Iruslees consider that the forecasts that have been Prepared Show that the Trust ha5 Sufficient available cash lo meet its ueditors as they fall dug and Ihe p¢rfornianc8 of the Tiusl and repayment of debts included in the forecasts Is an accurate reflection of the expecteil level of trad& of the trust for thè pèriod to 31 ALJgust 2027. Our opinion is not modified in respecl of this matter. Other infomiatign The othtrr infc>mabon compris9S the infornialion induded in the annual port other than the finartial statements and our audilorfs report Ihereon. The Tru$lee$ are responsible for the other infomi81ion con19ined within the annual report. Our opinion on the financial statements doe$ not Cover the other information and we do not exprass any form of assurance nclUsion thereon. Our responsibility is lo read the other information and, in doin9 $0. ctsn$id&r whethor the other infomiation is m8teri811y incot)sistent with th8 financial statements or our knowledge oblairieil in Ihe course of the 8udk. or otheIse appears lo be materlally mlsst8ted. If we idenlSfy $u¢h material incon515tencies or app8nI material misstslemenls, we are requid to d91ermine whether this gives risè to a material misslatemenl in the financial slalewnenls themselves. 11, based on the WOTk we have performed, we conclude that there is a material misstatement of this other information, we are required io report that fact. We hove nothlng to report in this 1gg8rd. Pnatterg on whleh we ar• rnqulrod to rèport by •xceptlon Except fcr the matter described in th& Basis for qualified opinion section of our report we hav8 nothing to report in respect Ctf the followlng matters in relation to which the Co-operative and CommunTty Benefit SocIel$ 2014, the Chanties and Tru51ee Investment {Scollandl Act 2005 the Charities Accounts (Scotlandl Regulati$ 2006 requires us lo reptrrt 1¢ you if, In our opinion.. thg inlorm8tic>n given in the fin8n(y81 ststements 1$ inconsislenl in any material respect with the Trustee port., or proper accounting reeords have not been kepl,. or the finanual statements are not In agreement with the a¢counling reo)rds', or we have not ceIVd all the infomation anil explanathon$ we require for our audrt.
OBAN COMMUNITIES TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TOTHE TRUSTEES OF OBAN COMMUNITIES TRUST R?$pon$ibllltlo9 of TNstees As explained more fully in the $tstgmgnt of Trustee respon$iJ)ilitie$, the Tnjstees are SponSIbl8 forth8 preparab'on of tho finan¢ial statements and for being satisfied that they give a Irue and fair view. and lor such Intgmal control as thè Trustees delemiine is necessary to en8bl¢ the preparation of finanry81 stalemgnts that are free from material mis5taternent, whelhgr due to fraud or error. In preparing the finanual slalements. th8 Trustees are responsible lor as$essing the InJstch8rty's abilty to continue as a going concem, disckjslng, as applicable, matters relaled to gimng concern and using the going concem basls of accounting unless the Truslees either intend lo cease operations. or have no realistic allematN8 b(rt to do so. Atsdltof• re¥pon$lbllltle8 for the audlt of the flnanclal statement¥ We have beèn appointed as audilor under section 44111{cl of the Charities and Trustee Invesltnenl Iscollandl A 2005 and report in 8c¢ordance with the Ad and relevanl regulations made or having 9ffect Ihereunder. Our objectives are to obtsin reasonab18 assuranc• obout whgther the finanual statements as a whole are free from material misstalemenl, whether due lo fraud or error, and to issue an audilorfs report that includes our oplnion. Reasonable 8ssurance 15 a hlgh level of assurance bLrt is not a guarantee that an audit conducted in o0rd8nce with ISA$ IUKI wlll 8k¥ays detect a material misstalemfrnl when it exists. Misststemgnts can arise from fraud or grror and are considered material if, individually or in the 8ggregat8. they could reason8bty be èxpecled to influent Ihe eCnomiC decisions of users tsken on the basis of these fin8nci81 sl8t&ments. The extent lo which our procgdures are capable of detectin9 irregularities, indudlng frId. is detailed below. Enquiry of management. those charged with g)vemance and the entws yoli¢ilors around adual and potential litlgalion and claims., Enquiry of entty stsff In lax and compliance functlons lo Identify any instsnces of non-compliance wsth laws and regulations.. Performing audit work over the risk of management override tsf conlrolg, including lesting of journal entries and other adjustments for appropriateness. evaluating the business r8tlonale of significant transaln$ outside the norrval course of business and reviewing a¢¢ounting eslim8les for bias,. Revi9wing minutes of meetings of those charged with go¥emance'. and Reviewlng financial statement disdosures and testsng to suppotting documentation lo assess complianee with applirable laws and rggulations.. Because of the inherent limll81ions of an audh, there18 a risk that we wil not delect all irr8gularilies, induding those leading to a rnaterial misslatemenl in Ihg financial statements or non-compliance wrth ra9ulation. Th1$ risk increases the Ore that compliance with a law or regulation is removed from the events and Iransadions reflected in Ihg rinancial statements. as we will be less Ilkely lo becorne aware of inslan¢g$ of noTrcompliance. Tho risk is also greatgr regarding irregulariligs occurring due to fiaud rather than error. as fraud involve5 intentional concealment. forgery, collusion. omission or misrepresentation. A further description of our responsibilities is available on the Flnancial Rfyporting Council's website al: https'.11 www.fr¢.org.ukJ$udilorsresponsibilitieB. This description fonns part of our audilorfs report. 10-
OBAN COMMUNITIES TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF OBAN COMMUNITIES TRUST U89 of our report This report is made solety lo the charity's trustees, as a body, in Ordance with seLXion 87 of the Ctroperatwe and Community Benefit Soaeties Act 2014: sadion 4411} of the Charities and Trustee Investment {S¢otlandl Ad 2005 and Regulalion 10 of thg Charities Accounls (Scotlandl Regulations 2006. Our audit work has bggn undertaken so Ihat we might slate lo the charl$ trustees those matters we are required to stale lo them in an auditor's report and for no other purpose. To the fijllesl exient permitted by law, we do not aCCgPt or assume responsibilly lo anyone other than Ihg tharbty and the charity s Iwsteès as a body, for our audit work, for this report, or for thg opinions we have formed. Mr Davld Young (Senior StstutoryAudltor) For and on behalf of Wllllam Duncan + Co IAud5tl Ltd Statutory Auditor Ell8r$18y House 30 Miller Road Ayr Ayrshire KA7 2AY D81e'. 11
OBAN COMMUNITIES TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unre$Mctsd Restricted fund• fundg 2025 202S Total unrtrICted R•stslcted fund• funds 2024 2024 Tolal 2025 2024 Notsg Income from: Donauons and lega¢ies Charitable *ivities Investments 8,924 288.288 113 48,500 57,424 288.288 113 43.888 268,769 12 188,438 27,011 210,326 295,780 12 Total in¢tsmg 297,325 48.500 345,825 312,669 193,449 506.118 Expendlture on: Raising funds Chariiable a¢tlwlies 47,239 261,743 47.239 388,104 41.525 342.479 41.525 510,889 126.361 168,410 Tol•l ?xp•ndliure 308,982 126.361 435,343 384.004 168,410 552,414 Not exponditu 111,6571 177.881) {89.518} (71.335) 25,039 I46,2) Transfeis be@@n funds 61,812 161.8121 Net movement In fund$ 50,155 1139.6731 189.518) 171.3351 25,039 I48,2) Reconclllatlon ollund$: Fund balances al 1 September 2024 (81,6081 2,769.570 2,687.962 110,2731 2.744,531 2,734,258 Fund b•lan¢•¥ at 31 Augu&t 2026 131.4531 2,629.897 2.598,444 (81,6081 2.769,570 2,687,962 The slalemenl of financial actiwiles includes all galns and lossos reccfjnised in the year. All inccme and expenditure derive from Gonlinuing acllvitie5. 12-
OBAN COMMUNITIES TRUST BALANCE SHEET ASAT31 AUGUST2025 2025 2024 Notes Fixed a$$ets Twible assets 13 2,971,432 3,071.441 Current agsets Debtors C8$h al bank and in hand 14 41,758 69,738 50,992 74,633 111,496 125.62S Credltor¥: amounts falllng due wlthln one year 16 1276.283) 1287,1771 Met current Ilabllltl•8 1164,78n 1161,5521 Total assets less current Ilabilitles 2,806,645 2,909,889 Credltots: amounts lalllng due aft•r more than one year 17 1208,201) (221,927) Ngt a$sots gx¢ludlng pgn$Oon Ilablllty 2,598,444 2.687.962 Net a•sets 2,598.444 2.667,962 The funds ofthg charfty Community shares Restricted income funds Unrestricted funds 210,300 2,629,897 1241,7531 210,300 2,769,570 {291,908} 18 2,598,444 2,887,9W2 e financial stalemenls were approved by tho Tru$lg9$ On ... .. Mr Neil Mccorriskgn Trustee Dr Stacey Trustee 13-
OBAN COMMUNITIES TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST2025 202S 2024 Notes Cash flows from opornting 8¢tlvltl•s Cash generated from operations 23 8.240 25,355 Investing a¢tlvltlgs Pur¢h8s0 of tsngible fixed assets Investment income re¢eNed 14,1141 113 {116.889) 12 Ngt ¢a$h u$9d In Inv••ting actlvlllg9 14.001} 1116,8771 Flnanclng activltle8 Repayment of borrowings 19.1341 125,178 N•t cash (used Inllgfrn•ratsd from financing a¢tlvEllag (9,1341 125.178 Net Id•cr•a5oIlincrea$e In cash and ¢osh equlvalgnts 14,895) 33,656 Cash and cash èquivaltsnls al be9inning of year 74,633 40,977 Cash and cash equlval•nts at •nd of year 69,738 74.633 14-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting poll¢lès Charlty Inforn)atlon The charity is a community benefil society limited by shares and is gov9rned by rts constitution. regislered as a charity with the Office of the Scottish Charlty Ro9ulalor and regislèrgd as a ctsmmunty benefit socigty wlth the FInal181 Condud Authorfly. 1.1 Accounllng convention The finanual statements have been Pfepared in accordance with th& requirement of Ihe Charities awj Twstee Invgstmenl IS¢ollandl Ad 2005, the Charlties Accounts (Scotlandl Regulations 20C6 {8s amended) as well as the Co-operative ond Community Benefit Societies Act 2014, and the Sl8tem&nt of Recommended Practice ISORPI 2019. Accounting and Reporting by Chaiilie5 preparing their accounts in acrdance with the Financial Reporting Sland8rd applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 2019). The charlty Is a Public Benefft Enlrty a$ defined by FRS 102. The financial statements are pr8P8red in sterling. which is the fUtiOnal CurncY of lh¢ charty. Monetsry amounts in these finanryal slalemenls are rounded to th8 neare$l £. The financial statements have been prepared undei the historical cost ¢onv8nllon. The principal aecounling policies adopted are sel oul bglow. 1.2 Golng ¢one•rn The Trust had a nel deffial of É89.518 during the year en(led 31 August 202512024-. net deficit 01 £46.2961 and a8 ¢f that date the Tru51 had nel Current liabilities of £164,78712024'. nel tufnI liabilitiès of £161.552} and net assets of £2.598,44412024'. nel 8ssets of £2.687.962} that included negative unreslricled lunds 8t 31 August 2025 of £241.75312024'. negative £291,908>. The Trust has made a d8fi¢il in the post year end period to 31 March 2026 al is forecasting a deficit foi the period endgd 31 August 2027. Howev8r, the fo$t$ show there is $yffi¢ient available cash during the period ended 31 August 2027, on the b8S1$ that actual perk)Tman¢e 18 In line with the forecasted results end for the debts where there ar8 no dened iepaymenl temis the repayment of these is expected lo be in line with the repayments includèd in lh• forecast5. 11 the perfoiman¢fr of the Trust 1$ not in lin8 with their forecasts or early repayment is required in relation to any of the debts. then the Trust may have insufficient funds lo meet their L¥edilof8 as they fall due. The trustèès arg confident ihai the forgc8$ts are achievable and il 1$ on this basis that these 3tL91 statements have prepared on a going concem basis. 1.3 Charltsblo funds Unrastricled funds are available for usg at the discr01 of the Trusl¥a$ in furtherance of their ¢h8ritable oble¢tive$. R9$1rictgd fvnd$ are subject to specific ¢ondilions by donors or gfanlors a$ to how they may be used. The purposes and use5 of the restriled funds are sel out in the notes lo the financial Statefflents. 1.4 kn¢omè Income is recognised in the statement of finandal activities when the charity is entitled to income, any performance COli110nS attach8d have been mel, 11 Is probable that the income will b8 received gnd the amounl can be quantified with reasonable accuracy. Suth income is only defvrred when the donoi spe(xfies performance conditions which fflu$l b& met bgfore the charity has unconditional èntitlement. The folbwing speafie policias are applied lo particular ¢at8gories of income.. 15-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 A¢countlng policles (Continuod} Donations. grants and legaoles InGlu¢Jing grants for purchase of ffixed assel$, are induded in full in the $tOtement of financial activitles when receivable. Grants where enlrflemenl 13 not u)nditioDo1 on the d81ivery of a specmc performance by the charfly, are recognised when the charlly b9Me$ unconditionalty enlided lo the grant. Oonaled $eNce5 and facllS1ig$ are induded al the v8luo to the charity where thi$ can b8 quanlified. The value of seryices provldgd by volunteers has not been induded. Glfts donated for res8le ar9 included as income wllhln adNII95 for generating funds when they 8ffj K*ld. Incoma from charty shop. cafe 8nd bar are irbcluded in the yoar in which il is recdwJbl$. tncome from Invèstment is included in the yeOT in which it 1$ receivablg. 1.6 Expenditurn Expendilure is fe(xJgnised once there is a legal or constructive obligation to transfer econornic beneffit lo third party, it is probable that a transfer of enOMiC benefits will be required in settlement, and the amount of the obligation carb be measured reliably. AU gxpenditure is accounted for on an acuu81 basis. All expenses Induding SUFfQrt Costs and govemance costs are allocated on an appropriate basi8 to the varfous activit$ of the charity. Where costs onnot be allocated directty. they ar8 apportloned lo the calego)ries on the basis of a rèasonable estimate of costs. Govemance costs indude those costs necessary fctr Ihe board to lulfil it$ conslitubonal and statsjtory obligations and are now included as 8ilPPQrt wsls included in charitable a¢lOvrties. Support Costs are those costs incurred directiy In support of expenditure on the objed5 of the ¢harily and inthde profr¢t managernenl. 1.6 Tanglble Ilxed •¥gets Tangiblè fixed assets are Initially measured 81 cost and subsequently measured al cost or valuation, net of depreatn and any impaimient losses. Depreciation is recognised str as to write off the cost or valualion of ¥8sets le$s Iheir residual lueS over their usgfvl lives on the following bases.. Fre&hold property Planl and equipment Fixtur85 and frttings Office equipment Building works 2% straight Ilne 25% straight line 25% 51raighl lin8 25% straighl line 2Vo Straight line The gain or loss arising on the dlsposal of an asset Is determined as the dSfferencg befvleen the sale proceed$ and Ihe carrwng value of the asset, and Is rfr¢ogn5s9d in the ststem8nt of financial activities. 1.7 knpaimient of fix•d as$•ts At each r8POrting end date, the charity reviews the c8frying amoun18 of its tanglble assets lo detemiine whether there is any indication that tho$8 8sselS have suffered an impairment los$. If any such indratlon exists. Ihg r¢Ve[able amount of the 8sset is est1rn81ed in Order lo delemiine the extent of th8 impairment lo$¥ lif any). 16-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountin9 poll¢l•g {ContSnugdl 1.8 Cash and ¢ash equlvalents Cash and cash equivalents include cash In hand. deposits held al call with banks, other shorktemi liquid inveslmenls with original malurilies of thrge months or19sg, and bank overdrafts. Bank overdrafts are shown wolhln borrowings in current liabilities. 1.9 Flnonclal lTrBtruments The charity has elected to appty the piovisions of Sectlon 11 'Ba$i¢ Finan¢ial Instruments, and Section 12 'Qlher Financi41 Instruments Issues, of FRS 102 to all of 11$ finandal instnjments. Financ4al instruments are fecognised in the charity's baL4nce sh8el when the charity becomes paFty lo the contr*ual provisions of the instrument. Flnancial asset8 and liabil'tigs are offset, with the nel amounts piesentsd In the financial slalempnls, whpn there is a legalty enfoiceable right lo $01 off th8 recognised amounts and there is an inténtion to settle on a net basis or lo realise Ihe asset and settle the118billty simultsneously. Baslc financial assets Basic financial assets, which includ8 debtors and cash and bank balances, a initially measured at tr8nsgCtion price including transaction Costs 8nd are subsequenlty carried at amortised cost using the eff&ctiV8 Interest method unl8ss the arrangement constitutes a Ilnanung tran$a¢lkin. where the transaction 1$ measured al Ihe present value of the fvlurfj receipts discounted al a market rate of irlterest. Financial assets dassifi•d as receivable wrthin one year a not amortised. Basic financial liabilitie$ Ba81¢ financial li8bilitie$, induding creditors and bank loans are initially re¢ognisgd at tr8nsaclion pri unless the attangement constitutes a financing transaction, where the debt instrurnenl Is measured at the present valuè of the luluie payments discounted al a market rale of interest. FinanGial liabilities classified 8$ payablg within on• yèar are nol amortised. Debt instruments are Subsequenlly carrled al amortlsed cosl. usln9 the efftive intsrosl rate melhod. TT8dg creditors are obligations to pay for goods or services that have been aUired in the ordinary ¢ourse of operations from suppliers. Amoun1$ payable aro ¢lassifigd as current liabililie5 if payment is due within on& year or less. If not. they are presented 8$ notscurrent liabilities. Tr8de creditors are recognised Initial at transaction price arbd subsequently measured al amortised cost using the effeclw8 #11gfOSt method. Dere¢ognhloft of flnan¢lal Ilabllltles Finan¢i81 8"IrtieS are derecognised when the charty's contrBCtUBI obligath)ns expir8 or are di$th•tged or cancelled. 1.10 Taxation The Chartty 1$ exempl from corporation lax on its ¢harit8bl• actNities. 1.11 Employo? bgnefits The ¢o$t of any unused holiday enlrtlèmgnl Is rgcognlsed in thg peilod In whSch the employee's seNces are ieceived. Termination benefits are recognised irnmediately as an expense when the charity is d8monslrably committed to t&miinat• th• employment ol an empkjyoe or to provi¢Je t&min81ion beneffts. 17-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Crftlcal accounting e8tim¥t•s and Judgements In the appllc915on of Ihg charity's accounting policies, the Truste¢$ are required to make judgements. es1imale5 and assumptions about the carrying amount of assets and liabilities that are not readily 8pparenl from other sources. The esllmates an(1 associated assumplKins are based on historical expefiènce and other factors that 8fe con$idgred lo be relevant. Actual resufts fflay differ from Ihesg estimate5. The eslimale5 arKI undedying assumptions ale rewewpd on an ongoing b8si$. R8vision5 to ac¢ounling $timate$ are recognised in thè period in which the estimate is rewsed where the revlslon affects cfjly that period, or in the period of the Tevision and future periods where tho r$vSsion affects both current and futur8 P8ri0ds. Intome from donatlons and lega¢l•$ Unregtrlctèd R•strictsd lund8 fund$ 2026 2025 Total Unrestrfcted Re¥trlcted fund8 funds 2024 2024 Total 2D25 20Z4 Dowdtions and gffts Grants 12,144 (3.220) 12,144 45,280 18,676 25,212 18,878 191,650 48.500 168,438 8.924 48,500 57.424 43,888 106,438 210.320 Grants Argyll antj Bute Grants EB Sc£Jtland Ltd Bid40ban National Lottery Robertson Trust Oban Common Good Fund DTA Scotland TSI - Growing connections Biffa Waste Scottish Book Trust Week Drax De•fib NHS Highland Screening Wortshop Abcan Comrnunity Gard¢n MOWI 110,7201 (10,7201 27,200 10,212 15.000 100.000 110,212 15,000 20,000 5,000 16.500 13.000 27,200 20,CrtJO 5.too 16,500 13,iK)O 13,CQO 13,000 4,0 4,200 4.IX)O 4.200 2.100 2,1CWJ 7,SOO 1.250 750 700 1,250 750 1,500 1.000 1,000 1,000 1,000 3.738 3,738 13,2201 45,280 25.212 166,438 191,050 18-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 IoMe from charitable a¢tivltl•8 Unrgstrlct•d R•strktsd fund8 funds 2025 2112S Total Unmtrf¢t•d Restricted fund$ fund• 2024 2024 Total 2025 2024 Charitablg actlvftlgs Arts & Culture- perform8nces Events. workshops & ass8s Carpark income Hire of space8- main building Clippgr project Cafe Rowan & bar sal&s Rental in¢ome- lenanls Other income Shop income 4.999 4,999 5,202 5.202 40.424 89.502 40,424 89,502 1,615 74,780 1.615 74,780 38,121 38,121 42,197 42.197 26.000 99,103 31,669 2,666 12,548 26,000 45.040 34,570 24,305 11,327 45,040 34,570 24,305 11,327 99,103 31,669 1,655 12.548 1.011 288,288 288,288 268,769 27,011 295,780 Income from In¥thits Unro$trl¢t•d Unrnstrlcted funds funds 2026 2024 Interest receivable 113 12 Exppnditurg on rnl¥lng fund$ Unrestrlctsd Unrn$tri¢ted funds fund¥ 2025 2024 Ral$lng lunds Cafe Rowan & bar purcha5e$ C8fpaTk management charges Cafe Rowan & Bar- Maintenare & cleaning 22,355 18,395 6.489 23,239 13,802 4,484 47.239 41,525 19-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2Q25 Expendltur• on charitsbl• o¢llvltl Charil•blg activities 2025 Charftablo a¢tlvitie$ 2024 Direct ¢o$ts Stsff eosts Depre¢iatv)n and impairment Rates and water Insuran Light and heat Sundries Material & equty)menl Marketing costs Licences & $ubscriplion5 Other premises costs Laundry 8 ¢leanlng Equipment maintenance costs Property maintenance costs Training cos15 Communications Performance fees Tutor costs Events & workshop$ Activity costs Consthncy & prolesslon81 fees Bad debts 112,044 104.123 4,377 16.923 32,119 256 198.151 113.408 4,183 29,160 32,963 742 4.112 4.394 1,372 5,293 4.085 4.587 4.485 54e 548 1.933 3,086 6.439 16,434 11.661 3,038 1.855 4,203 312 1,429 8,6C6 130 1,849 28,287 7,226 20,781 18041 346,756 458.693 Share of support and govgrnanco ¢o$ts (S note 81 Support Govemance 7.972 33.376 11,274 40,922 388,104 510,889 Analy$l$ by fund UNrestr@d lund¥ Reslrlcted fijnds 261,743 126,361 342,479 168,410 388.104 510,889 20-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Support ¢osts allocated to activitieg 2025 2024 Bank charges Communication & IT¢osts Other Olfice expgnses Govemance costs 2,981 4,404 587 33.376 4,555 5,408 1,311 40,922 41.348 52,196 Analysed between: Charitable activthes 41,348 52,1 2025 2024 Governan¢g Costs comprlse: Audit fegs Accountancy Legal and professional HMRC penalties and Inleiest Loan interest 14.250 4.792 6,708 23,000 13,410 2,740 169 1,603 7,826 33,376 40,922 Net movoment In fund¥ 2025 2024 Th& net mOvent in funds 55 slated after chargtWlcrediiing).' Fees payable lor the audit of the Chlty.S financial stalemgnts Depreciation ol owned tangible fixed assets 14.250 104.123 23.000 113,408 10 Thistsgs There wa8 no trustees. expense8 pald for the year ended 31 August 2025 nor for Ihg year ended 31 August 2024. There was no Iruslees. femuneratlon or oiher benefrts for the year ended 31 August 2025 the year ended 31 August 2024. 11 Employee• The average monthly number of 8mployees duriNJ the ygar was.. 2025 Numbèr 2024 Numbgr Cafe and $hop staff 13 21
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 11 Ernployee$ EThploym•nt cojts 2025 2024 Wag05 and salaries Other pension costs 110,588 1,456 195,378 2,773 112.044 198.151 There were employees whose annual r8mun8ralion was more than £60.000. 12 Taxation The charity Is exenwl from taxation on 115 actiwlles becoUS8 all ils income 15 applied for charitsble pury)oses. 13 Tngible fixed •$sets Freehok] pwwrty Plant ond Fthr•s Ond Iprn•nt flttlngs OfiietrBulkllng •qLlpm•m Total At 1 September 2024 AdditKns 2,914.641 25,651 354 169,622 2,783 3,302 977 345.895 3.459,111 4,114 At 31 August 2025 2,914.641 26.005 172,405 4.279 345,895 3.463,225 Dgpr•cl#tlon and Impairn)ent Ai i September 2024 Depreclation char9&d in the year 230,578 18.820 115,527 2.609 20.136 387,670 58.287 5.e85 32,837 8.918 104,123 At 31 August 2025 288,865 24,505 148,364 3,005 27,054 491,793 Carrylng amount At 31 August 2025 2,625.776 1,5 24.041 1,274 318,841 2.971,432 At 31 Augu 2024 2,684.063 6,831 54.095 693 325,759 3,071,441 14 Dobtors 2025 2024 Amounts falllng due within one year: Trade debtors Prepayments and accrued income 20,143 21.615 13,415 37,577 41,758 50,992
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 15 Loany and ov•rdrafts 2025 2024 Other loans 297,544 306,678 Paygble within one year Payable after one year 199,343 98,201 194,751 111,927 10 Cvedltor8: Amounts falllng due wlthin ono y•*r 2025 2024 BorTowings Other t8xalion and social security Trade ¢redilor$ Other crediiors Accruals and dgfvrred irKome 199,343 10.088 33.037 194,751 15,660 35.939 573 40,254 33,815 276,283 287.177 17 Crgdltors: amounts falling due aft•r more thath one year 2025 2024 Borrowings Other credilor8 98,201 110.000 111,927 110,000 208.201 221.927 23-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Rgstrictsd fvndg The restrided funds of the charity cornpre the unexpended balances of donatic*n$ and grants held on trust Subject lo specific conditions by donors as to how tY may be used. At1 September 2024 Incomlng resources Restsurc•s •xpend•d Trnn¥ler8 At 31 August 2025 Nat. Lolt8ry Capital Scottl$h GOVL Capital HES CP Founijallon Other caprtal funding National Cornmunty Lottery A&B PBIP EB Scotland E¢0 Creative BSA Science Week Adapt & thrive Drax Grant Dye Garden SG PBIP Garden Deveknpmenl Scottish Booktiusl Fund Book Week S¢oll8nd Rob&rt$on Trust Iliam Grdnl WG Wortd Cafe Biffa Waste Drax De-fib NHS AecAN MOWI DTAS 753.369 869,932 65,983 36.737 1,004,850 11,000 97,674 20,000 6.817 1.298 3.460 1,364 1.499 49.553 (16,8141 {1 S,4511 15301 18471 130,2811 111,0001 11,5261 (8001 736,555 654,481 65,453 35.890 974,569 13.724) 92,424 19,200 16,8171 11,2981 11,2581 {796} 11,499} (3861 {40,(K)01 15001 12031 12,2021 (5681 127,176) 21,991 700 (700) 203 13,OlJO 25,000 2,200 1.250 750 (11.916) 1.084 2S.000 (2.2001 1.250 750 1.250 (2501 {1,0001 {1,0001 12,1001 1,000 1,OLX) 2,100 5,331 15,3311 2,769.570 48,500 1126,361} 161.8121 2.629,897 -24-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 18 R•$trlcted fund$ {Continu•d> Pr•vlous year: Atl Septemb•r 2023 Incomlng r¢¥ourtt¥ Resour¢•¥ expended Translern At 31 Augu$t 2024 Nat. Lottery Capital Scotttsh &)vt. Capital HES Co-op FoundatK>n Other capital funding Herttage Lottery Fund- People & Place National Comrnunrfy Lottery A&B PBIP EB Scotland Ltd Eco Creative BSA Science Week Adapt & thrive TSI Growing Connections Grant Drax Grant ABC Lego Club Dye Garden SG PBIP Garden Developmenl Scoltish Booktrust Fund Clipper project War Memorial Book Week Scotjand Robertson Trust Oban Common 0d Fund Bid4oban DTAS 770.184 685.384 66.513 37.584 1,045.531 (16,815) 115,452} (530) 184n 140,6811 753.369 669.932 85,983 36.737 1,004.8SO 1,898 2,066 {1,8981 17,5661 12,3261 16,500 100,000 20,000 3.738 11,000 97.674 20,000 6,817 1.298 3.460 3,393 1,298 3.460 1.601 1314) (1.601> 912 1,499 76,344 40,000 500 (912) 1,499 49,553 40,000 500 (26.791> 26,OL>D 787 224 13.ClOO 4.000 5.000 4.200 (26.0001 17871 {211 (13.0001 14.000 15.0001 13.869) 203 s,000 5,331 2.744.531 193,449 {168,410} 2.789,570 -25-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Re5tr1cted fund$ IC¢ntlnu8dl Funding from Thg National Lottery - ComMty Asset Funding INaL Lottary Capital): ScotU$h Govemmet)t Region81 C8PIt81 Grant Fund Argyll & Bute Council Iscottlgh GOVL Capltal).. Highlands & Island5 Enterprise.. Covop Foundotion are all to support C8plal works. In addition, the fund called "Other Capi181 Funding" represents the balanc& of funds secured specrficalty for Ihe refvrbishmenl of the buikling. Historic Enronment Scovand IHESI contributed to the heme of repair- capit81 works programme. Nalonal Community Lottery- operational support to Support Covld response staffing and ¢uKural programff post lockdown. Argyll & Bule Place Based Investment Progr8mme IA&B PBIPI and EB Scotland Ltd 9ranls represent support for capital works. EcovCrealNe Cluster- to support th? d&velopm8nt of Dye Garden. BSA SdenR week- to support STEM activity. Adapt & Thve - to support the Trust through the Covld recovery p8dod. including the estab16shment of a welness wogrammo. Dr8x- lo support the fil out of the servery. ABC Dye Garden 2022 (Dye Gard•n}- to SUPPOrt the establishment of a Dye Garden al the Rockfield Cenlre. Scottish Govemm9nl Pkacg Based Inve$lmenl Programme ISG PBIPI - to cr8ale a 2(hminule neighbourhcod hub where visitors can enjoy outdoor spaces whS1sl utilising services available. Gar¢Jen Development- to support thg developrnenl of a garden project which would help wilh food gr0h and the provision of D)mmunity allotments. Scottish Book Trust- to support the benefits of rèading and willing across Scotland. Book Week ScoUand- lo support the benefit of reading and1Sleralure Ihroughoul Scolland. Robertson Trust- lo support the bookings co.ordinator ro19 wlthin the charity. The Willlam Grant Foundatoon 'Worfd Café, (WG Worfd C•fel - to 5UPPOrt a worfd café communtty engagement event. The Wdliam Gronl Foundallon grant (Wllllam Grant) - lo support the operations manager role within th• charity. Biffa Waste- to cover a future InktsAtive lo prevent waste, InGrea$e reuse andlor r•cyding, improve 8ducalion aTrJ promole Innovation. Drox De•Flb- grant for the quISItIOn of 8n extemal defibrillator unit. NHS Hhland Screening W¢rkshrJp {NHSF to use artS-ba8&d o)mmunty enga9emenl to Inc8$9 knowledge ofhealth sueening programme8. A8CAN Communty Garden {ABCANI - lo support the project leader and provide matèrials for the mmUnity garden MOWI- to support a salmon themed pop-up kitch8n event Development Trusts A$$ociatton Scotland IDTASI - to assisl with professlonal fees and HR supporL
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGusf2025 18 Restrlctsd funds Icontinuedl Oban Common Good Fund was lo sUprt the freelance enIS manager within the charhy. Bid4oban was to support the dl)per projec. 19 Unr•$tri¢t•d funds The unre$tricled fund$ of the charity comprise the unexpended balances of donation8 and grant5 which are not subject to specific conditions by donors an(1 grantors as lo how thgy may be used. These #ichjde desi91)aled fund$ which have been $91 aside out of unrestricted funds by the trustees for specific purpo$es. Tranyfern At 31 August 2025 At1 Septsmbgr 2024 In¢oming ourc Rgsourceg expended Gènwal funds 1291.908) 297,32S 1308,9821 81.812 1241.753 Pr•vlous year, At1 soptsmber 2023 In¢omlng rgsour¢e Rgsour¢ •xpended TAnsfers At 31 Augu¥t 2024 General funds 1220,5731 312,669 (384,004) 1291,9081 20 Anatysis ol neta•$•ts between fund¥ Unr•strlctsd lundg 2025 Rg¥trl¢l•d fund$ 2025 Total 2026 At 31 August 2025: Tangible assets Current assetsllliabililies) Long temi habilities Community shares 215,869 1194,1211 153,2011 1210,300) 2.755.563 29,334 1155,0&)1 2.971,432 (164.787) 1208,2011 (210,3001 (241,7531 2,629,897 2.388.144 -27-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 AUGUST2025 20 Anatysls of ngt •5s•ts between fund8 {Continu•dl Unrestrlctsd fund9 2024 Rostrlet•d fund 2024 Total 2024 Al 31 August 2024: TAn9ibl8 assets Current asselsllliabililiasl Long term lial(e5 Community shares 373,339 1233,0201 (221,9271 (210.3001 2.698.102 71.468 3.071,441 1161,552} 1221,92n 1210.300} (291.908) 2.769,570 2,477.862 21 COMMUNITY SHARES Community $har8s al the balanca shgel dale were l0,300(2024 - £210,300). There were no new shares issued by the Soclety during the year. Shareholders are enlitlad lo one volg regardless of the ?mounl of shares held. Totsl membgrshlp as of 31 August 2025 74512024. 7451. 22 Related party tran¥•¢tlong Induded in "Other loans" 1$ £105,617 12024 - £105,61n aifvanced by a fomier Trustee. This loan is repayabl& on agreement and does not bear gny interest. 23 Cash generatsd trom oporation$ 2025 2024 Defficil for the year {89.5181 (4fj,2) Adlustrnents for: Investment income recognised in slalement of finanaal aclivilies Depre¢iatK)n 8nd Impalmipnl of tangible fixed assets (113) 104,123 112) 113,408 Movements In worklng capltal: Ilncrease>ldecrease in slocks Decrease in dèbtors Decrea8el in cr8ditors 800 13,697 156,242) 9,234 115.486) Ca$h g•n•ratod from operatlons 8,240 25,355 -28-
OBAN COMMUNITIES TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 24 Analy$l$ of changes in nel Idgbt)Ifun(1g At 1 Spt•mbgr 2024 C4h 110 At 31 AugU*t 202S Cash at bathk and in hand 74,633 (4.8951 69.738 Loans falling due within one year Loans falling due aftw more than one year 1194,7511 (111,92n (4,5921 13,726 (199.3431 198.201) 1232,045) 4.239 {227.806) -29-