REGISTEBID CHARITY TqUMBER: SCIM6938 RRPORT OFTHETRusfEES AND UNAUDITED FJNANCXALSTATEMEKfs FOR THE YEARENDED 31 JULY 2024 FOR ISLAY HERITAGE Nlitchell Edwards Chertered CertificdAc¢ountunts 24AAiD51ie Plsce Edinburgh EH3 6kl
ISLAY KERITAGE CONTENYS OY FDYANCIALSTATEMEwrs forthg year ended 31 July 2024 PAge Rert ofth¢ Trnst I to 2 Independent Ex*rnlner'$ Réport Stotemevt ofFlwi¢knl A¢tlvltl¢s Balonet She•t Notes to the FlnAnclg1 StAtettwnt$
ISLAY HERAGE REPORT OFTHE TRUSTEES forthé ytsr endod 31 Juty 2024 The tsuslees pr&qellt the annual report8ttd fitthntti4] tstcments for the wiod from l Au8USt 2023 ÈO 31 July 2024. ONEcfivES ANDACTIVITIES Objeetlves qlld aln I$L4y Hertragc ISC040938), 1)ualchas 114 was fomKd in 2017 a cbaritydevottd io Isknls p#st and tbt tDAnyways in which it eB be explored elljoyed by everyoryL It lour ckn£ritablepu4)0ses: Educauon- Fo8blatn R¢treati0- Cui-seachd Con8eM¢iott- GlèidhlebjS ACHIEVEMENT AND PERFORMANCE Chirltahle attlvldej During thé ye2T 2024-2025. Isla Herita e has focused ott the eoTJstrVl0ll projectforDunyryai8 eastla. Thil invDlvad num¢rous on-line meetin8s bttween snd the xppointtd Brchitects. Simpson & Bro. and betswcen these and Historic Ettvkoumen¢S¢otlalld. Att in-PLr%un ThiCL'linxo¢¢ur¢ed ou Isioy In O¢tob¢r. HES staff and thE architcc15 v15ited Islay thspect the Costl¢ ond discuss the co8¢ for reIrn and stabilisotion. Thai lea to th¢ submission ofplott8 10 FtFS ottd two rounds of rcvi$ion&. itsr to the VdIng of Sebeduled MonuTDeDt Consent in Janusry 202S. The Project is currently teDdering for the plall of works, following which a fin21 ¢t will be made 10 HES for fiuon¢ial support. Durin this pro¢ess iai5Ed wi¢h Diageo. the ¢wner8 of the CAStJ¢, ond ittfomAI metng3 were held ixiween aod tsustees. A aitivity thc fillal segson of ex¢&vRti¢m at Oli8tsdh. undertoken Jointly with th¢ UllivErsity of Rcad2n& Thi6 involvd visi¢8 by Islay PrimAry S¢hotsl$. ltyitiil work be8lln On theAMly&is of finds and rwrtin8ofthe exe8vAtioM. FINANCIAL RCIVIEW Its the period under review the ¢hHTity received doDAlionB of £100,648 QQ23.. £SO291) and incurrl expenditure of £43557 Q023: £27.739). £100,648 of thi% iL¢ome ènd £35.857 of experjdittwe relat¢d to arewicted fijnd fortheeon%miioAof Dunyviix Qstle. Rosorvts Polley The trnstee5' poIL¢y LS to ItsTnt2in È level of reserve$ suffieitryt to mintASD the delivtry of its eharitsblc pwposes. Totsl al the balanc¢ sbed date atnounied to £205.990 12023: £148.8991. Unrestrscied filnds amounted to £102.598 12023.. £110398) Ind r¢Ath¢ted Iljnds amounted 10 £103,392 (2023.. £38.6011. STrUCTURF.. GOVERNANCE AND MANACEMEPIT Governing &)curnenl The ChLty is a Scollish Chllritzbk OrganitiOn (SCIO) 4nd És 8ov¢m¢dby IL3 coD¥litytion. It w inc¢Mp¢)rntcd ou 28 O¢lob¢r20L& The Sthjthre of the orgatiisalion CODEists of the memLxrs 8nd the chaLIty trusleu. The memb$ have the tight to ait)d members, eelin85 and annual g¢n¢r41 MLIn85¥ 8ppoinl the trusic¢5 and tska deci5ion$ oll diBn8es to tlic con$titution. Thc ¢rwl¢c5 8¢n¢rally ¢ontroI thc activities of thc ¢hDrity tMtllreresponsible for tmniioring artd controlling ils finllneiAI position. At cach annual gen¢r41 me¢iin8 the memb¢rs rnay ¢le¢i any membw I$$ helshe ts dlsqualltled from belng 8 ¢hgrlty unthr the a)•till 8nd Thi$teelnvtskntnt(Scotlattdl A¢1 2005 or is anemployeeof the charSty110 i% a ¢htrity tsllstee. The tru5tecs rn2y xt Any time ipptstht Èny member (uole&% tselshe is di4uAlified from being É clrity tsusiee under the Chtirities 4nd Tnjstce IScollAndl Att 2005 or Is OL employee of the charity) to be a cbxriiy ¢Lusiee mayai any iitJJe appoitti ally ]Jon-member 10 i E choTity truste¢ lunlcss hdshe is di8quolified from being a charity tswsle¢ undor the Charities and Tnle2 IS¢otiond) Act 2005 or IS 8n emplo of the chariry) either on the basis thBt helshe been nominAted by a body with whicb the cbity hts close c¢mtacl in the cour5eofits a¢iviiles or on tbe basis that helthe liLs spcciali$i experiellee 2ttdlorthe skills wliich Could be of to the RelAted p2rllÈ£ Thete wereno rt18ted paTty trae¢lL05 ill the year ded 31 July2024 Dor thc ycar 31 July2023. REFEIiENCK ArADmr1$TRATtVE DETAILS Reglstered Ch#rity MuThber SC046938 Poge I
RlllORTOFThETRUSTEr for theyearelldd 31 Jtrly21124 IlldepolldoDt£zamlDDr Milch¢ll Edword¥ 24AAinsU¢Place Approv¢d by Oidcr of thc. bDard ol1rlE3Qll 29 APAI 2025 •Ad tj bthjf ty. P8802
[NDEPENDr EXAMI,$ KEPORTTO THE TRUSTEFS OF ISLAY HERITAGE I report on the accounts fotthey¢ur¢nded31 July 2024 seLOUtoll pa8es four to nine. Respectfve respon51bllltles of trtets #hd È12rntller The cl15 tDJstca% are responsible for the PFepthtion of th¢ accoun15 in accord8n£e with the terms of t Charilics and Tntse Invest¢¢ IScot18ndl Act 2005 Oj the Charities Accounts Iswdaudl Rcgulations 2006 1&8 amended). Th¢ Cl]$ ¢Trt eonsider tha¢ t[ audit r¢quir¢m¢nt of Re8u]aiion 10(l)lal to {e) Of the AccouDts Re8uiAtians th)eJ rAOt apply. It is my respoTtsibi]ity lo examitie the Aeeouttts &$ r4UiEed uDder S¢¢tion 44(11(cl of the Act and to stote whetlLer partiu]Èr matters have come to my alleLtiOJL Bts ofthe llldependent examjner's report My examination wag cajried out in accordance with Re8vlatiott l E of the Charities Accounts {Sc(bttand) Reguialions 2006. An ¢xomin#TiOrt irt£ldes & review of the Accourytiu8 records kept by the charity comparison of the accouttts prese]Jied with those records. It Also iLcludcs cousidcratiotL of *]Jy Unusual Ite or disdDsures in the accounts. and se¢king cxplonaiions from you a5 tsu8tees ¢oncerDlllg 4nysuch matters. The procedures uodertakesk do not provide all the evtdenee that would bc requiryd in an audil eDd CODEequentty I donot ewTes5 ary audit OPWilOD on thcvicw givcn by the accoullt& Indeprnd¢nt exarnlner'• stAttment Io ¢ODL¢¢ts¢llWith my exllmittttioD. Lo]rotrrhu ¢om¢ to llythotiott.. (l) which givea m¢ reasonablc ca£ bclicvc thal ill dny molcrial rcspcth. th¢ r4uir¢rtxnts to kttp aecountÉnB fttoTds in attordance with Section 44IIX8) of the 2CK15 Aet ad Regulation 4 of the 2006 Aeeouttts Re8ulailons; Bnd to ppr¢ •ceounts wbi¢h ateord with the aeeountllil r¢¢ord# And to ¢omply with R¢yl¢tion 8 of th¢ 2006 A¢¢ounts ReguiAtio b8v¢ noib¢¢n ¢r 12) lo which, in rny opinÉon. attention should be drnwn in orderto enable a properunderstanding of the Bccounts to be ¥eaehed. MiiLliell ELiwar. Chllrtered Ccrtifi¢d 24A AiJLslie Pllce Edinburgb 29 April 2025 PRge 3
tSLAYEERrrAGE sTATELr4T OF FINANCIAL AcfivJT ror the ye4r ended 31 July 2024 2024 Total 2023 Totsl UDf¢5tri¢t¢d fiJLd R¢5tricted fiLDds Notes DO[tiOnS aTJd I¢7¢$ 100,648 100.648 50.291 EXTENDTEURE OF4 Charltablo gctlvltics Cbaritabl¢R¢tsviti¢$ 7,7(KJ 35,857 43,557 27,739 (7.7001 64.791 57.091 22,552 RECONCILIATION OF FUFIDS Total fvDd$ brou8ht fonvard 110298 38.601 148.899 126.347 TOTAL FUNDS CARIUED FORWARD 102.598 103.392 205.990 148,899 cowriNUING OPERATIONS Ail income sndexpenditure hHs ]Sell from ntinuIng tt¢¢iviti¢s. Thc notcs fotmpllrtof these financial stateznents Pag¢4
BAIANCESH 31 July 3024 2024 2023 Tolil thJtLds Urttestthd RestrictEd Debtor6 Cagb b$llk I4531 103,392 205,WJ3 150,t733.' t,795 103.392 2tr1.185 1.50,053 {1.195) (1.195J {1.134? 10259& L03 392 205,990 L48.899, 10¥98 103 J92 205,990 148.899 Nff A&SETS 101598 103J92 205.990 148.899 itrJ.S98 110298 Restrlot¥d fj]llQts.' 8,838 94554 8038 29,761 103.3 38ffi01 TOTALFuf41k8 205,990 148 The 8tAtam¢ttts w<e BPPToved by thB0a of T¢8 gnd authorixd for isvuv m 29 ApIi12025 £ttdTKro Msllcd ots bebAlfby.' Pagc 5
ISLAY K&RrrACE NOTES TO THE FINANCIAL STATEMENIS ror tbe yeended31 2024 The charity i8 o Scottish CbaTitable OTBHnisution (SCIO) 8nd is governed by IL8 COJJStithJtieL with its prits¢ipul Jddr¢s5 at Carllduttcan Famth08t, CaLydtJrw GruiryHr4 AT8yll, IsJ¢ afJslay, PA44 7 PS. Thc presentstion currencyof thc fillanciaI 5taterncnts is the Poulld Sierling (Q. Alllounts are rOded to the ttedTestL ACCOUNTING POIICIL8 Bsls of preptrlllg ihè IkntAttelal $txtÈrnélltS The fin8n¢ial sthtements of the chty, which IB a publie beJ>efit etttity llder FRS 102, have been Prepared in awordance Tliththc C]ueS SOR2 (FRS 102}'AccouLtiDg alld Reponing by arIa¢S.. Sratetllent of RecomDJended Prndice applicable to charitics preparing theiraccounts in ac¢ordan¢c with the Financial Rcporting S¢aTrdardapplicablc in the UK and Republic of Ireiénd (FRS 102) {efftttivc J Jalluttry 20191,. Fi[Ull1 Report# Stand2rd 102 Yhe Filloncin] Reportiug Standard applicAble i]J the UK And Republic of Itelalld, and the CIltieS 8Dd TJlJSttt ]nvestslleDI IScot18lldl Act 200S. The fiLcial statements havo been prepared under the hisrIcAl cosLconventLOn. PrepAr4tloD ofthe #tcounts on • 8olng ¢oBctrn bas1# Th¢ ¢Nstee8 consider thoi there ore no material uttcertsinties Lbout theTn'S abiliry to coolttlle 08 1 80in8 ¢Qrt¢¢m. In¢ome All income is recols¢d in thc Sialcmcnt of Financial Activitics oncr thc charity hus ent1cent to thc fiJnd4 it is proboble th¢t the ltt¢ome will be reuived attd the ayttovttt C20 b¢ ivosured reiiobly. Expendltllrè Liabiliiies are reCOls¢d as expelldltu a5 Sooll 85 there i5 a k8al or cons1ctiVe obli8aliory cory¥rniltsD8 th¢ cbRTity to that eXpendIre, it 15 probabl¢ thata tran5ferof onOMIC b¢n¢fit5 will b¢ Tcquired in scttjemcnt and the amowit of th¢ oblis8lion cattbe m22sured rellably. Tknc ¢bthty is exempt from tsx on Its ¢h&iiabl¢ k¢tivIt5. Futyd x¢¢ountlng Unestricied Ilmds C8ll beu8ed in accordoncewith the ch8ritableobjectives at the di8cretionofthe trustee& Restri¢t¢d tbttds e•rt ottlybewed for p8rtieul8rrestricted purposel within the objects of the charity. Reytrietion8 8riae I¢1r1ed by the donor orwbeA Sjllds are raised for particul restricledputpos Debtors Debtors ar¢r<Co]td lltthc #¢ttlcrn¢nt loUntdu¢. Prepoym¢nts AT¢ walued atthe a0tt prepfjid. C2JIL Xt CAsh at bank include8 cash and thort tetm highly liquid iDveslmetLts wxth a short matutxty of thre¢ month5 or le58 from the dale of acquisition oroF¢niDgof thedep051t or similaramounL Credltors wnd pro1$ Creditors and provi5ion$ llTe recOlised vthere the chartty ha8 a prejent obligAtion resultiD8 from a p8St event that will probobly result in the transfer of funds to a tbird party and the 8mouot to s¢ttl¢ th¢ obly8ation me&5ur¢d Qr timat¢d reli&bly. Creditors 8nd provisioD8 Br¢nomMllYr¢coIs at ¢heiT scttlcnxnt all¢. Pag¢ 6 ntsnued..
JSLAY H&R]TAGE NOTES TO THE FINANCIAL STAThMEM8. continued fortlle yr ellded 31 July 2024 IK)NATIONS AM) LEGACi&S 2024 21Y13 DoDlltions Grants l(M),648 36,191 14,100 ICil,648 50.291 Support costs {see note 51 Dlrect Totals ATitthl¢ actlvittts 40.894 2.663 43,557 SUPPORT COSTS Gov¢mBL¢¢ Managemellt Fitiallce Totsls ajaritableudivilies 1,463 1,194 Supportcosis, Itldudtd in the abov4 •tt a8 follows: 2024 Choritllble 4Gtiviti¢s 2023 Toial IivLlieJ Inwrdnce Oenernl expenditure tndepcndcnl exallllnatioo fre 1.465 1.435 49 ,134 1.194 2.663 2.618 TRUSTEUI REMUNERATION AND BEf4EFITS There were no ¢rusleel remuneTh¢ion or othtr beThefits fortli¢ y48r end¢d 31 July2024 norfortheyeor ertded 311uly2023. Truste¢s' ¢xp¢L$es Therewere no trustccs'¢xp¢nses plid for th¢ye8r ertded 31 July 2024 tsor forthe yearended 31 July 20. DEBTORS: AMOUNfs FALLING DUE WITH of4EYEAR 2024 2023 Prepawts 1.262 Page 7 CODtinueiL..
ISLAY KERITACE NOTK8 TO FANCIAL STATEIVLKNTS- conthiued fortbe yeAr ended 31 July 2024 CRIDfroRS: AMOUNTS FALLINGDUE WITH114 ONE YKAR 2024 2023 Othertteditors I,L95 1.134 MOVEMENT IN FUTrIDS Net At 1.8.23 in fiLud8 31.7.24 Unrcstslcted fullds General fiJd 110,298 17.7001 102,598 Restrl¢t¢d fllnds tnfoThtion Bo#rds DurtyvaL8 8.838 29,763 8,838 94,554 64,791 38,601 64,791 103 J92 TOT•lL FUTr4DS 148.899 57,091 205.990 N¢1 rtvemenL in fiJn included Én the aboveare gs follows.. llleoming Resources expended Movemellt in fijnds Unrtstrlcted funds Genernl Jjnd {7.700) {7,700) Restrlcted flltt¢ts DyoyvAi8 100.648 (35,857) 64,791 TOTAL FUNDS 100,648 (43,557) 57.1)91 ComparAtlvcs for mowejnent ID fukndj Net nwvenxtti in fimd8 At 31.7.23 At 1.8.22 Unrtstrlcted funds General 117.509 {7.211) 110298 Rtstrltted funds Jnfonnation Boards Dunyv2i8 8.838 8,838 29.763 29,763 8,838 29,763 38,601 126.347 22552 148,899 Pa8¢ 8 Continued...
JSLAY ItERrrAGE NOTES TO TkIE FINANCIAL STATEDNfS-c0llthIutd fortbtyear ellded 31 Ju]y 2024 MOVEMENT IN FtrNDS- contilllled Comparativcoetlllovementin fiJDd4 induded in the abJve8reas follow5.' TtKotnin8 ResouTCe5 Mov¢m¢nt in ftLnd8 UnrL¥trtttod funds Qujeral fimd 5.804 (13.015) (7211) Restrlcted funds Dunyvoi8 0A.487 {14.724) 29,763 TOTAL FUNDS 50291 127.7391 22.552 Theunr¢stri¢ttd fijnds ¢v•iJabl¢ to be fot attyof tbe PULFO8esof the charity. The infonL4tioll board rcstricled l)Jnd r¢J4iesto th¢ ¢oll•ix)raiiv¢ projeet with the Museun) oflsiayLife do develop 8 number of infonnation boaTd5. Th¢ T¢Slriti¢d fvnd i8 only available forcosts related to thisproject. The DuDyVrtig restricted fid r¢lat<s to th¢ ¢on#¢mtioll of Duoyvais Casi]e. The rutricted fjjnd is only available for costs laled lo thi$prOj¢. io. RELATED PARTYDISCLOSURES There wrrello relatcd PHrty tr•uw¢SoD8 for theye8t ellded 31 July 2024. Page 9