REGISTERED CHARITY NUMBER: SC047345
Report of the Trustees 2nd
Financial Statements for the Year Ended 31 March 2025
for
John O, Groats Mill Trust
(8 Scottish Charitable Incorpordted
Organisation)
Reid & Frdser Audit Ltd
Statutory Auditors
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

John O, Groats Mill Trust
(a Scottish Charitable Incorpornted
Organisation}
Contents of the Financial Statements
ror the Year Ended 31 March 2025
Page
Chairman's Report
Report of Ihe Trustees
Report of the Independent Auditors
Statement of Financial Activities
Balance Sheet
10
Cash Flow Statement
Noles to the Cash Flow Statement
12
Notes to the Financial Statements
13 to 20
Detailed Statement of Financi81 Activities
21 to 22

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Chairnian's Report
for the Year Ended 31 March 2025
Over the financial year to March 2025. the Trust has come a long way in achieving its ambition of saving its historic
mill to provide the facility the community behind the Trust wanl. Though ￿]1] a building site at the end of the year it
was already secure and almost ready for hand over. The year had been largely focused on this with community
involvement frnstratinbcwly limited. Since the end of the year, the community now has access. The response has been
ovenvhelmingly positive with hundred5 of people accessing li for a lar(ve rantse of activities. social and educational.
This is ¢xactly in linc with the Trust's raisin d¢tr¢.
Volunteers have been an important aspect of the Trnst's plans. The Trust's elected Board uive freety of their time. In
addition a good number of volunteers are on hand to help as and when required. This has been limited by the building
site status of the Mill over the past year. But since being open to the comrnunity the opportunities for volunteering are
becoming more appareni and with that the interest in being involved.
The priority into the immediate future is to ensure the financial security of the organisation. providing facilities which
have a positive effect on local residents and on visilors to the area. -the aim of providing facilities lo enrich local lives at
minimum cosi in an area of social isolaiion wilh financial challenges is the priority.
Pagc I

John O, Groats Mill Trusl
(a Scottish Charitable Incorporated
Organisation)
Report of the Trustees
for the Year Ended 31 Mareh 2025
The trustees present their report with ihe financial statements of the charity for the year ended 31 March 2025. The
trustees have adopted the provisions of Accounling and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the
UK and Republic of Ireland (FRS 102) (effective l January ?019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance education by providing a visitor attraction. int¢rpretstioD and exhibition spaces. meeting and training
facilities for local groups and encouraging the development of local training and infomlal educational provision using
the John O'Groats Mill and associated buildings.
To support local heritage by engaging in activities in particular as they relate to the Mill.
The aims of the Trust remain unchanged from founding concepts. though its papers were updated at the AGM in
February to reflect the current position of ownership of ihe Mill ￿ther than, as was slaled in original document, the
investigation towards acquiring and developing the properties.
The development of the Mill at the financial year ending March 2025 had yet to further the aims of the Trust, but it had
gone a long way to providing the facilitie5 to enable the Trust to develop its ambitions.
Since the year end the Tnjst now h&$ possession of the site and a solid start lo its future as a visitor attraction for guests
to the area has been made. Use as a stimulating facility for visitors and local is highly rated in feedback. The facility is
becoming popular as a meeting place for a range of groups and organisations. These range from children focused fun
events using the building and its wider amenities, through to presentations and social events.
Significant aetivilies
Through the year there were limited opportunities to focus on the long terni pury)oses of the Trust because in effect the
Mill was a building site under the control of the main conlrdctor. There were a few occasions when the comniunity were
invited in to view and discuss progress.{Doors Open Days- Trdditional skills liaison with local college. pond dipping
events. bat watching). Though li is difficult to come up wilh hard statistical evidence, all of these events were very
popular and people, both local and visitors were very engaged and enthused. Since the year end the Trust has built on
this and its first few months of being open to the community have been promising in the variety of sectors making us¢
of the Mill. The efforts put in to ensuring the building 15 accessible to all have been much commenled on, both verbally
but also in local press articles.
The effort to involve the community focused largely on social media and its feedback. In addition, the Mill Trust went
out into the community, being a visible presence in any community events { Highland Games, Agricultural shows etc.)
Trustees and volunteers were on hand to answer questions and receive feedback. Invariably. feedback was positive and
there was a huge amount of interest and enthusiasm for the Trust's ambilions.
A lot of effort has been put into keeping the community up to date with progress. The Mill's social media page has been
a very popular forum leading to much positive feedback. Since the year end a huge effort has been made to run a series
of events encouraging all sectors of the community to get involved. explore and enjoy ihe facility we now have.
In preparation for tran51tion to visitor and community hub. a manager was apFM)inted in January to enable time for them
to develop their role prior to site handover.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
A summary of the activities of the charity for the year being reported is contained in the Chair's Teport and within the
'Significant activities" section of the report..
Page 2

John O, Groats Mill Trust
{a Scottish Charitable Ineorporated
Organisation)
Report of the Trustees
for the Year Ended 31 Mareh 2025
FINANCIAL REVIEW
Financial position
The results for the year are reported in the fmancial statements.
The fmancial year to March 2025 was dominated by the building work on the Mill. Costs associated with this were
within budget. But there was an impact on the Trust's ability to raise income. The cottages, nornially available for
holiday let had to be closed for extended periods with the inevitable loss in revenue.
Th¢ continuation of the restordtion project was a planned and funded evenl so th¢ fmancial ¢ffect was as expected. i.e.
significant sums paid out to contractors and drawn down from grant funders. As the project remained on budget, it
should have no adverse affects on the ￿tUre financial position of the Trust and the outcome of the works will be to
leav¢ th¢ Trust with a sustainabl¢ source of income for the future.
Reserves policy
The policy of the Trust is to maintain an appropriale amount of generdl reserves to meet day to day running costs in the
short frmi.
Total reserves held at 31 March 2025 were £4.663.112 comprising £206,448 of unrestricted reserve5 and £4.456,664 of
restricted reserves.
FUTURE PLANS
Delayed completion, often due lo geographical isolation, affected the new manager of the site in her ability to prepare
for the coming Season, especially as we could not guarantee or advertise opening in advance. This will also affect ihe
following financial year 2025126. Despile this. having experienced a few months of being available to the community
Ihere are good reasons lo be positive about the ability of the Trust and its facilities lo fulfill its ainbitions.
The year 2025126 will be one of consolidation. The aim is lo build on our existing plans lo encourage use of the facility,
and ensure the activities collectively benefit the community and visitors, bul also ensure a financially secure
background. We want to learn from the current trading aclivilies and implement any changes necessary.
A measure of success would be increased revenue. relurning customers and great feedback within the community and
wider population.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Coverning document
The Trust was fornied by constitution on 17 January 2017 a5 a Scottish Charitable Incorporated Organisation
Reeruitment and appointment of new trustees
The Trust is made up of members and a few friends (this is something we will develop). Only members have a vote at
an AGM.To be a member, one must reside in the area of benefit which is the community council area. This ensures that
control will always Stay within the local cornmunity.
Members elect the Trustees (the Board). There are up to I l Board members and a minimum of 6. Trustees are elected
for a three year terni with a third (4.4,3) standing down each year. They can be re-elected.
The Trustees Ihen elecl office bearers from within their numbers. The Trustees can co-opt an additional individual to
sit on the Board if thai person has skills or expertise needed by the Board. That COvOPted member stands down at next
AGM.
The directors are not remunerated for their services.
Deeision making
The Board of Trustees makes all decisions on running the Trust until the next AGM. The Board of Trustee5 makes
decisions at Board meetings held approximately monthly. On a day to day basis the Chair, Treasurer and Secretary
make decisions on general running issues.
Major decisions must be brought to a Board meeting where a majority vote would prevail.
Page 3

John O, Groats Mill Trust
(a Seottish Charitable Incorporated
Organisalion)
Report of the Trustees
for the Year Ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
New Triistees are oiven tuilioniexplanation of the Trusvs aims, its documentation etc. by the Chair and Treasurer or a
Iruslee nominaied by (hem.
Any prospective truslee should haye tuiti(￿ and training {withoul disclosure of confidenlial info) prior to el¢clion.
Risk management
The tn￿tee5 have a duty to identify and review th¢ risks to which the charity is exposed and to ensure appropriate
controls are in place Io Provide reasonable assurance againsi fraud and error.
The main financial risk during this perlod were changes to the limeframe and cost of works. This ts usual for a
construction project and a risk register wa5 kept by the principal designer. The main contractor worked with the Trust
lo mitigate these risks such as moving some items of work forward in ihe plan, when there were oiher parts the), could
not get on with due to delays. Overall costs continued to fall within the expected budget for the project. Cashflow
was occasionally tricky as the Trust relied on grant funding being paid oui. bul again by working closely with the
contraciors. the project kepi moving forward.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charitv number
SC047345
Prineipil qddreqs
Auditurs
Reid & Frd5er Audit Ltd
Statutory Auditors
Chartered Accountants
15 Princes Street
'I'hurso
Caithness
KW14 7BQ
Bankers
Olrig Street
Thurso
KW14 7BL
Page 4

Johm O, Groats Mill Trust
(8 Scotlish Charitable Incorporated
Organisation)
Report ofthe Trustees
for the Year Ended 31 March 2025
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable
law and United KingdoTn Accounting Standards (United Kingdom Generally Accepted Accounting Prn¢tice) including
Financial Reporting Standard 102 "The Financial Reponing Standard applicable in the UK and Republic of Irelaiid
Charity law requires the trustees to prepar¢ fmancial statements for each financial year. Under that law, the trustees
have elected io prepare the financial siaiements in accordance with Unit¢d Kingdom Generally Accepied Accounting
Practice (United Kingdom Accountinu
Standards and applicable law).
Under charity law the truste¢s must nol approve the financial statejneiits unless ihey are satisfied thai they give a true
and fair view of the state of affairs of the charity and of the incoming resource5 and application of resources, includuig
the income and expenditure, of the charity for that p¢riod. In preparing those f]nancial Statements, the trustees are
required lo
select suitable accounting policies and then apply them consistenily.
observe the methods and principles in the Charities SORP.
make Judgemenls and eslimales that are reasonable and prudenl.
state whether applicable accounting standards have been followed, subject lo any material departures disclosed and
explained in ihe financial siatements-
prepare the financial staiemenis on the going concern basis unless it is inappropriate to presume ihat the chariry will
coi)tinue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any tin)e
the financial p05ilion of the charity and to enable Ihcm lo ensure that the financial statcments comply wilh the Charities
and Trustee Invesiment (Scotland) Aci 2005 and The Charities Accounts (Scoiland) Regulalions 2006 {as ainended).
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on ..Il. and signed on its behalf by..
Page 5

Report of the Independent Auditors to the Trustees of
John O, Groats Mill Trust
Opinion
We have audited the financial statements of John O, Groats Mill Trust (the 'charity') for the year ended 31 March 2025
which comprise the Statement of Financial Activities. the Balance Sheet, the Cash Flow Statement and notes to the
f￿anCIal statements, including a summary of significant accounting policies. The financial Teportints framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accountints
Practice), including Financial Reporting Standard 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland..
In our opinion the financial statements-
give a true and fair view of the slate of the charity's affairs as at 31 March 2025 and of its incoming resources and
application of resources, for the year then ended.
have been properly prepared in accordance with United Ktngdom Generally Accepted Accounting Practice,
tncluding Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland and
have been prepared in accordance wilh the requiremenls of the Charities and Trustee Investment (Scotland) Act
2005 and Regulation 8 of the Charlties Accounts (Scotland) Regulaiions 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibililies under those standards are further described in the Auditors, responsibilities for the audit of the
rinancial statements section of our report.
We are independent of the charlty in accordance with the ethical
requirements that are relevant to our audit of the fmancial statements in the UK, including the FRC'S Ethical Standard.
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relaling to events or conditions
that, individually or collectively, may cast significani doubt on the charity's ability to continue as a going concern for a
period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant
sections of this report.
Other information
The trustees are responsible for the other inforniation. The other inforniation comprises the infomiation included in the
Annual Report, other than the f￿ancIal statements and our Report of the Independenl Auditors thereon.
Our opinion on the financial statements does not cover the other inforniation and. except to the exlent oiherwise
explicitly slated in our report. we do not express any forni of assurance conclusion Ihereon.
In connection with our audit of the financial statemeT]ts. our responsibility is to read the other inforniation and, in doing
so, consider whether the other information is materially inconsistent with the financial stateinents or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to deterTnine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have perfornied, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have noihing to report in this regard.
Matters on which Ive are required to report by exception
We have nothing to report in respect of ihe following matters where ihe Charities Accounts (Scotland) Regulations
2006 requires us to report to you if, in our opinion=
the inforniation given in the Report of the Trustees is inconsistent in any malerial respect with the financial
statements. or
proper accounting record5 have not been kept; or
the financial statements are not in agreement with the accounting records and returns. or
we have not received all the information and explanations we require for our audit.

Report of the Independeni Auditors to the Trustees of
John O, Groats Mill Trust
Responsibilities of trustees
As explained more fully in the Statement of Truslees. Responsibilities, the trustees are responsible for ihe preparation of
the financial statements which give a true and fair view, and for such internal control as the trustees detemiine is
necessary to enable the preparalion of financial Statements thai are free from material inisstatemenl. wheiher due to
fraud or e￿Or.
In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a
going concern. disclosing, as applicable. matters related to aoing concem and using ihe going concem basis of
accounting unles5 the trustees either intend to liquidate ihe charity or to cease operations. or have no realistic alternative
but to do so.
Our responsibilities for the audit of Ihe financial statements
We have been appointed as auditors under Section 44(1)(c) of the Charities and Truste¢ Investment (Scotland) Act 2005
and report in accordance with the Act and relevant regulations made or having effeci thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes
our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from
fraud or error and are considered material if. individually or in the aggregaie. they could reasonably be expected lo
influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of designing our audit, we deterniined materiality and assessed the risks of material misstatement in the
financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud.
We gained an understanding of Ihe legal and regulatory framework applicable to the charity and the sector in which it
operates and considered the risk of acts by the charity which were contrary lo applicable laws and regulations including
fraud. This included, but was not limited to, the Charities and Trustee Investment (Scoiland) Act 2005 and the
Charities Accounts (Scotland) Regulations 2006.
We made enquiries of management with regards to compliance with the relevant laws and regulations and corroborated
any necessary evidence to relevant infomialion, for example. minutes of board meetings and evidence of any solicitor
fees.
We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also
addressed the risk of management override of internal controls including lesling journals. Our procedures included
vouching charitable expendilure against corroborating evidence to confim] ihat ihe expenditure complied with the lernis
of the Jo ant award.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognizing
that the risk of not detecting a maierial misstatement due to fraud is higher than the risk of not deiecting one resulting
from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through
coIIu5ion. There are inherent limitations in Ihe audit procedures perfonned and the further removed non-compliance
with laws and regulations is from the events and transactions reflected in the fmancial statements, Ihe less likely we are
to become aware of it.
A further description of our responsibilities for the audit of the financial stalements is located on the Financial
Reporting Council's website at www.frc.org.uklaudilor5re5pon5ibilities. This description fonns part of our Report of the
Independent Auditors.
Page 7

Report of the Independent Auditor5 to the Truste￿ of
John O, Groats Mill Trust
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Regulation 10 of the Charities
Accounts (Scotland) Regulations 2006. Our audit work has been undertaken 50 that we might state to the ¢harity'S
trustees those matters we are Tequired to state to them in an auditors, report and for no oiher purpose. To the fullest
¢xtent tKnnitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
trustees as a bodi., for our aullil li ork". for th is repc)ri. ()r flir IhL' (11)inions we have formed.
Iloirs
artere
ccounianls
Eligible to act as an auditor in tenns of Section 1212 of the Companies Act 2006
15 Princes Street
Thurso
Caiihness
KW14 7BQ
20.11 ZOS
Page 8

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Statement of Financial Activities
ror the Year Ended 31 Mareh 2025
2025
Total
funds
2024
Total
funds
Unrestricted
funds
Restricted
runds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
21,253
2,460,939
2,482,192
1,684,038
Investment income
19.883
19,883
23,918
Total
41,136
2,460,939
2,502,075
1707.956
EXPENDITURE ON
Charitable activities
Chariiable activities
37,273
91,145
128,418
100,369
NET INCOME
3,863
2,369,794
2,373,657
1.607.587
RECONCILIATION OF FUNDS
Tolal funds brought forward
202585
2,086,870
2,289,455
681,868
TOTAL FUNDS CARRIED FORWARD
206,448
4,456.664
4,663,112
2,289 455
The notes forni part of these financial statements
Page 9

John O. Groats Mill Trust
(a Scottish Charitable Incorporated
Organisalion)
Balance Sheet
31 March 2025
2025
Total
funds
2024
Total
funds
Unrestricted
funds
RestTicl¢d
funds
Notes
FIXED ASSETS
Intangible assets
Tangible assets
Investment prop¢rty
10
2,688
814
2,688
4,084,718
267
4,083,904
267
1.465,548
12
3,502
4JSI281
4J54,783
1,465,548
CURRENT ASSETS
Debtors
Cash at bank
13
1,030
217,183
476,978
97,712
478,008
314.895
900,016
312.910
218,213
574,690
792,903
1.212,926
CREDITORS
Amounts falling due within one year
14
(15,267)
{469J07)
(484574)
{389.019)
NET CURRENT ASSETS
202,946
105J83
308J29
823.907
TOTAL ASSETS LESS CURRENT
LIABILITIES
2[￿,448
4,456,664
4,663,112
2289,455
NET ASSETS
206,448
4 663,112
2 289 455
FUNDS
Unrestricted funds
Restricted fund5'.
Mill Fund
Inte￿relation Designer
206,448
202,585
4,456,664
2,082,590
4,280
4,456,664
2,086,870
TOTAL FUNDS
4,663,112
2 289,455
The financial statements were approved by the Board of Trustees and authorised for issue on
. and were signed on its behalf by..
The notes fomi part of these financial statements
Page 10

John O, Groats Mill Trust
(a Seottish Charitable Incorporated
Organisation)
Cash Flow Statement
for the Year Ended 31 March 2025
2025
2024
Notes
Cash floiys from operating activities
Cash generated frotn operations
2,892,200
1 180373
Net cash provided by operdting activiti¢s
2,892,200
1,180,373
Cash flows from investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
(2,688)
2 887,527
891483)
Net Cash used in investing activilies
2,890,215)
891,483)
Change in ¢Ash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
1,985
288,890
312,910
24,020
Cash and eash equivalents al the end of
the reporting period
314,895
312910
The notes fomi part of these financial statements
Page 11

John O, Groats Mill Trust
(a Seottish Charitable Incorporaled
Organlsation)
Notes to the Cash Flow Slatement
for the Year Ended 31 Mareh 2025
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2025
2024
Net income for the reporting period (as per the Statement of Financial
Aetivities)
Adjustments for:
Depreciation charges
Decrease/(increase} in debtors
Increase in creditors
2,373,657
1,607,587
980
422,008
95,555
798
(816,031)
388,019
Net eash provided by operations
2,892,200
1,180,373
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24
Cash flow
At 31.3.25
Net cash
Cash at bank
312,910
1,985
314895
312,910
1,985
314,895
Total
312,910
1,985
314895
The notes fonn part of these financial statements
Page 12

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Notes to the Financial Stalements
for the Year Ended 31 March 2025
ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP (FRS 102) 'Accounting and Reportintr by Charilies: Stateinent of
Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),.
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Charities and Trustee Investment (Scotland) Act 2005. The flnancial statements have been
prepared under the historical cost convention.
The charity has carried forward unrestricted r¢serves of £206,448 (2024 £202,585) and £4,456,664 (2024
£2,086,870) of restricted reserves. The Trustees have ca￿Led out an assessment of its ability to continue as a
going concern and are satisfied that they have adequate resources to continue in operational existence for the
foreseeable future. Consequenily they continue to adopt the going concern basis of account in preparing the
annual financial statements.
The presentation cU￿encY is £ (sterling).
The accounts are rounded to the nearest £.
INCOME
Income received that is earmarked either by the donor or by the ternis of the particular project will be shown
under Restricted Funds. All income from legacies, gifts, donations and grants is credited io the Statement of
Financial Activities when it is recognised that the charitable company has enliilement to the funds. when aiiy
perfonnance conditions attached to the item have been met, it is probable that Ihe income will be received and
the amount can be reliably measured.
Rental income from the let of holiday accommodation is recognised as receivable in the year.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation coinmitting the
charity to that expenditure, il is probable that a transfer of economic benefits will be required in seltleinent and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be direcily
attributed to particular headings they have been allocated lo aclivilies on a basis Consistent with the use of
resources.
TANGIBLE FIXED ASSETS
Tangible fixed assets are originally recorded al cost. Depreciation is charged at the following annual rates in
order to write off each asset over its e51imated useful life..
Plant and machinery
IT equipment
1 50/0 reducing balance
151/1 o reducing balance
No depreciation is provided on freehold property and exhibition costs whilst the Mill renovation and
development is ongoing.
INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregale surplus or deficit arising from change5 in
fair value is recognised in the Statement of Financial Activities.
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Page 13
continued..

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Notes to the Financial Statements- continued
for the Year Ended 31 March 2025
ACCOUNTING POLICIES - Continued
FUND ACCOUNTING
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restriciions arise when specified by the donor or when funds are raised for panicular restricted puryioses.
Further explanation of the Datur¢ and PUTpose of each fund is included in the notes to the fmancial statements.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charity operates a defined contribution pension scheme. Contribulions payable lo the charity's pension
scheme are charged to the Statemenl of Financial Activities in the period io which they relale.
DONATIONS AND LEGACIES
2025
2024
Donations
Gift aid
Grants
20,003
1,250
2,460,939
423
1,683.615
2,482 192
1684.038
Grants received, included in the above, are as follows:
2025
2024
Stroupsler Wind Fam) Community Fund
Architectural Heritage Fund
National Lottery Heritage Fund
North H ighland Initiative
SSE Highland Sustainable Development Fund
DLUHC Communiry Ownership Fund
Garfield Weston Foundation
Magnox Ltd DounreayiNuclear Restoration Fund
Regeneration Capital Grant Fund
Highland Council Community Regeneration Fund
Historic Environmenl Scotland
Wolfson Foundation
Highlands & Islands Enterprise
30,000
25,000
17,676
184,638
2,800
250,000
300,000
150,000
100,000
603,501
50,000
1,029,152
115,254
677,811
368,686
50,000
190,036
2,460,939
1683 615
Page 14
continued...

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Notes to the Financial Statements- continued
for the Year Ended 31 March 2025
INVESTMENT INCOME
2025
2024
Rents received
19,883
23,918
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 5)
Direct
Cosls
Totals
Charitable activities
119,923
8,495
128,418
SUPPORT COSTS
Governance
Costs
Finance
Totals
Charitsble activities
95
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended
31 March 2024.
TRUSTEES, EXPENSES
There were no
31 March 2024.
trustees, expenses paid for the year ended 31 March 2025 nor for the year ended
STAFF COSTS
2025
2024
Wages and salaries
Other pension costs
7,523
226
7,749
The average monthly number of employees during the year w&$ as follows:
2025
2024
Management
No employees received emoluments in exce55 of £60,000.
Paoe 15
continued...

John O, Groats Mill Trust
(a Seottish Charitable Incorporated
Organisation)
Notes to the Financial Statements- continued
for the Year Ended 31 March 2025
COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES
Unrestricted
funds
Restricted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donaiions and legacies
150,422
1,533,616
1,684,038
Investment income
23,918
23.918
Total
174340
1533,616
1.707.956
EXPENDITURE ON
Charitable activities
Charitable activities
29,561
70,808
100.369
NET INCOME
144.779
1.462,808
1.607,587
RECONCILIATION OF FUNDS
Total funds brought forward
57,806
624.062
681,868
TOTAL FUNDS CARRIED FORWARD
202,585
2,086,870
2,289,455
FINANCIAL INSTRUMENTS
The TNst has elected to apply the provisions of Section I l Basic Financial Instruments" and Section 12 "Other
Financial Instruments Issues" of FRS102 to all of its financial instruments.
Financial instrumenls are recognised in the Trust's balance sheet when the Trust becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial statements where there
is a legally enforceable right to set off ihe recognised amounts and there is an intention to settle on a net basis or
to realise the asset and settle the liability simultaneously.
Basic financial assels
Basic financial assets. which include debtors. cash and bank balances are initially measure at transaction price
including transaction ¢ost5 and are subsequently carried at amortised cost using the effective interest method
unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value
of the future receipts discounted at a market rate of interest. Financial assets classified as Teceivable within one
year are not amortised.
Basic financial liabilities
Basic financial liabilities are initially recogni5ed at trnnsaction price unless the arrangement constitute5 a
ftnancing trdnsaction, where the debt instrument is measured at the present value of the future payment5
discounted at a market rate of interest. Financial liabilities classified as payable within one year are not
amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Page 16
continued...

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Notes to the Financial Statements- continued
for the Year Ended 31 March 2025
FINANCIAL INSTRUMENTS- continued
Trade and other credilors are obligations to pay for goods OT services that have been acquired in the ordinary
course of operations from suppliers. Amounts payable are classified as cu￿ent liabilities if payment is due
within one year or less. If not. they are presented as n0n-cu￿ent liabilities. Trade and other credi101s are
recognised initially at transaction price and subsequently measured at amortised cost using the effective interest
rate method.
Derecognition of financial liabililies
rinancial liabilities are dere¢ognis¢d when the Trust's Contractual obligations expire OT are discharged or
cancelled.
io.
INTANGIBLE FIXED ASSETS
Design
costs
COST
Additions
NET BOOK VALUE
At 31 March 2025
2,688
At 31 March 2024
ii.
TANCIBLE FIXED ASSETS
Freehold
property
Plant and
Exhibilion
Computer
machinery & Interpretalion equipment
Totals
COST
Ai l April 2024
Additions
Reclassification
,461,020
2,723,848
267 J77)
5,754
1,466,774
2,887,527
267,377)
161,680
1,999
At 31 March 2025
3,917,491
5,754
161,680
,999
4,086,924
DEPRECIATION
At l April 2024
Charge for year
1,226
680
1,226
980
300
At 31 March 2025
300
2,206
NET BOOK VALUE
At 31 March 2025
3,917,491
3.848
161,680
4,084718
At 31 March 2024
,461.020
4,528
1,465,548
Page 17
continued...

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Notes to the Financial Statements- continued
for the Year Ended 31 March 2025
12.
INVESTMENT PROPERTY
FAIR VALUE
Reclassification
267,377
At 31 March 2025
267,377
NET BOOK VALUE
At 31 March 2025
267,377
At 31 March 2024
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Other debtors
Prepayments and accrued income
476,978
1,030
888,264
1.752
478 008
900,016
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Other creditors
484,574
389 019
15.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.3.25
At 1.4.24
Unrestricted funds
General fund
202,585
3,863
206,448
Restrieted funds
Mill Fund
Interpretation Designer
2,082,590
4,280
2J74,074
4,456,664
2 086,870
4 456,664
TOTAL FUIYDS
2,289,455
2,373,657
4,663,112
Page 18
continued...

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025
15.
MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are a5 follows:
Incoming
resources
Resourees
expended
Movement
in funds
Unrestrieted funds
General fund
41,136
(37,273)
3,863
Restricted funds
Mill Fund
Interpretation Designer
2,460,939
(86,865)
2,374,074
2,460,939
9J,14S
2,369,794
TOTAL FUNDS
2,502,075
Comparatives for movement in funds
Net
movement
in fund5
At
31.3.24
At 1.4.23
Un restricted funds
General fund
57,806
144,779
202,585
Restricted funds
Mill Fund
Interpretation Designer
624.062
,458,528
4,280
2,082,590
4,280
1,462 808
2,086 870
TOTAL FUNDS
681,868
1,607,587
2,289.455
Comparative net movemenl in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
Revenue Projects
172,504
1,836
(27,725)
1.836)
144,779
174.340
(29.561)
144,779
Restricted funds
Mill Fund
Interpretation Designer
.505,816
(47,288)
23 520)
1,458,528
1,533,616
(70,808)
1,462,808
TOTAL FUNDS
1,707,956
(100.369)
1,607,587
Page 19
continued...

John O, Groats Mill Trust
(a Scottish Charitable Ineorporated
Organlsation)
Notes to the Financial Stalements- continued
for the Year Ended 31 March 2025
MOVEMENT IN FUNDS- continued
The Mill Fund is for the resloration and development of John O'Groats Mill.
The Development Officer fund is to pay for a Development Officer to manage the Mill project. In the current
year, funding for the development officer is included within the Mill Fund.
The Interpretation Designer fund is to meet costs inCu￿ed in Creaiing the museum experience for visitor5 once
the renovation works are complete.
16.
RELATED PARTY DISCLOSURES
Trustee Andrew Mowat is also a panel member for the Stroupster Community Wind Farni Benefit Fund, which
awarded grant funding to John O'Groats Mill Trust for the mill renovaiion.
Page 20

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation}
Detailed Statement of Financial Activiti&s
for the Year Ended 31 March 2025
2025
2024
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
20,003
1,250
2,460,939
423
1,683,615
2,482,192
1,684,038
Investment income
Rents received
19,883
Total incoming resources
2.502,075
1,707,956
EXPENDITURE
Charitable activitie5
Wages
Pensions
Rates and water
Insurance
Light and heat
Telephone
Advertising
Sundries
Professional fees
Development o￿l¢er
Rental Agency Commission
Cleaning
General repairs
PayPal fees
Licences & Pemits
Website development
Activities Officer
Membership fees & subscription
Mill event5
Project costs
Depreciation of plant and machinery
Depreciation of compuler equipment
7,523
226
214
18,231
3,609
300
406
582
21,780
33,548
4,159
2,552
7,259
6,224
287
443
25,985
31,670
4,644
4,016
2,164
323
1,455
17,530
loo
455
5,950
680
300
281
5,848
1,836
798
119,923
91,456
Suppor¢ costs
Finance
Bank charges
95
73
This page does not forni part of the statutory financial statements
Page21

John O, Groats Mill Trust
(a Scottish Charitable Incorporated
Organisation)
Detailed Statement of Financial Activiti
for the Year Ended 31 Mareh 2025
2025
2024
Finanee
Governance costs
Auditors, remuneration
Accountancy and legal fees
Independent Examinevs Fee
6,400
2,000
6,400
2,000
440
8,400
8,840
Total resources expended
128,418
100369
Net income
2,373,657
1,607,587
This page does not fonn part of the statutory financial 51atements
Page 22