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 Re￿rt ofth¢ Trnst I to 2 Independent Ex*rnlner'$ Réport Stotemevt ofFlwi¢knl A¢tlvltl¢s Balonet She•t Notes to the FlnAnclg1 StAtettwnt$ ISLAY HER￿AGE 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$L4y Hertragc ISC040938), 1)ualchas 114 was fomKd in 2017 a cbaritydevottd io Isknls p#st and tbt tDAnyways in which it eB be explored elljoyed by everyoryL It lour ckn£ritablepu4)0ses: Educauon- Fo8blatn R¢treati0￿- Cui-seachd Con8eM¢iott- Glèidhle￿bjS ACHIEVEMENT AND PERFORMANCE Chirltahle attlvldej During thé ye2T 2024-2025. Isla Herita e has focused ott the eoTJstrV￿l0ll projectforDunyryai8 eastla. Thil invDlvad num¢rous on-line meetin8s bttween snd the xppointtd Brchitects. Simpson & Bro￿. and betswcen these and Historic Ettvkoumen¢S¢otlalld. Att in-PLr%un ThiCL'linxo¢¢ur¢ed ou Isioy In O¢tob¢r. HES staff and thE architcc15 v15ited Islay ￿ thspect the Costl¢ ond discuss the co8¢ for re￿Irn and stabilisotion. Thai lea to th¢ submission ofplott8 10 FtFS ottd two rounds of rcvi$ion&. itsr to the *V￿dIng 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 met￿ng3 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$. ltyitiil work be8lln On theAMly&is of finds and rwrtin8ofthe exe8vAtioM. FINANCIAL RCIVIEW Its the period under review the ¢hHTity received doDAlionB of £100,648 QQ23.. £SO291) and incurr*l expenditure of £43557 Q023: £27.739). £100,648 of thi% iL¢ome ènd £35.857 of experjdittwe relat¢d to arewicted fijnd fortheeon%miioAof Dunyviix Qstle. Rosorvts Polley The trnstee5' poIL¢y LS to ItsTnt2in È level of reserve$ 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 Ch￿Lty is a Scollish Chllritzbk Organi￿tiOn (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 M￿LIn85¥ 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$teelnvtskntnt(Scotlattdl A¢1 2005 or is anemployeeof the charSty110 i% a ¢htrity tsllstee. The tru5tecs rn2y xt Any time ipptstht Èny member (uole&% tselshe is di4uAlified from being É cl￿rity tsusiee under the Chtirities 4nd Tnjstce IScollAndl Att 2005 or Is OL employee of the charity) to be a cbxriiy ¢Lusiee mayai any iitJJe appoitti ally ]Jon-member 10 i* E choTity truste¢ lunlcss hdshe is di8quolified from being a charity tswsle¢ undor the Charities and Tn￿le2 IS¢otiond) Act 2005 or IS 8n emplo￿ of the chariry) either on the basis thBt helshe been nominAted by a body with whicb the cb*ity hts close c¢mtacl in the cour5eofits a¢iviiles or on tbe basis that helthe liLs spcciali$i experiellee 2ttdlorthe skills wliich Could be of to the RelAted p2rllÈ£ Thete wereno rt18ted paTty tra￿e¢lL0￿5 ill the year ded 31 July2024 Dor thc ycar 31 July2023. REFEIiENCK Ar￿ADmr￿1$TRATtVE DETAILS Reglstered Ch#rity MuThber SC046938 Poge I RlllORTOFThETRUSTEr for theyearelldd 31 Jtrly21124 IlldepolldoDt£zamlDDr Milch¢ll Edword¥ 24AAinsU¢Place Approv¢d by Oidcr of thc. bDard ol1r￿lE￿3Qll 29 APAI 2025 •Ad ￿t￿j bthjf ty. P8802 [NDEPEND￿r EXAMI￿,$ KEPORTTO THE TRUSTEFS OF ISLAY HERITAGE I report on the accounts fotthey¢ur¢nded31 July 2024 seLOUtoll pa8es four to nine. Respectfve respon51bllltles of tr￿*tets #hd È12rntller The cl￿1￿5 tDJstca% are responsible for the PFepth*tion of th¢ accoun15 in accord8n£e with the terms of t￿ Charilics and Tn￿tse Invest￿¢￿¢ IScot18ndl Act 2005 Oj￿ the Charities Accounts Iswdaudl Rcgulations 2006 1&8 amended). Th¢ Cl￿]￿$ ¢Tr￿t 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 B￿ts 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£l￿des & 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 a￿d Regulation 4 of the 2006 Aeeouttts Re8ulailons; Bnd to p￿p￿r¢ •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 sTATEL￿r4T 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 I￿4531 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 wefit 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[Ull￿1￿ Report￿# Stand2rd 102 Yhe Filloncin] Reportiug Standard applicAble i]J the UK And Republic of Itelalld, and the CI￿ltieS 8Dd TJlJSttt ]nvestslleDI IScot18lldl Act 200S. The fiL￿cial statements havo been prepared under the his￿rIcAl cosLconventLOn. PrepAr4tloD ofthe #tcounts on • 8olng ¢oBctrn bas1# Th¢ ¢Nstee8 consider thoi there ore no material uttcertsinties Lbout theTn￿'S abiliry to cool*ttlle 08 1 80in8 ¢Qrt¢¢m. In¢ome All income is reco￿ls¢d in thc Sialcmcnt of Financial Activitics oncr thc charity hus ent1￿c￿ent to thc fiJnd4 it is proboble th¢t the ltt¢ome will be reuived attd the ayttovttt C20 b¢ ivosured reiiobly. Expendltllrè Liabiliiies are reCO￿ls¢d as expelldltu￿ a5 Sooll 85 there i5 a k8al or cons1￿ctiVe obli8aliory cory¥rniltsD8 th¢ cbRTity to that eXpendI￿re, 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 Un*estricied 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