REGISTERED CHARITY NUMBER: SC047581
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 September 2024
for
UIG DEVELOPMENT TRUST SCIO
Mann Judd Gordon Ltd Chartered Accountants
26 Lewis Street Stornoway Isle of Lewis HS1 2JF
UIG DEVELOPMENT TRUST SCIO
Contents of the Financial Statements for the Year Ended 30 September 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 |
UIG DEVELOPMENT TRUST SCIO
Report of the Trustees for the Year Ended 30 September 2024
The trustees present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The organisation's purposes are:
(a) To manage community land and associated assets for the benefit of the Community and the public in general following principles of sustainable development which meets the needs of the present without compromising the ability of future generations to meet their own needs.
(b) To provide, or assist in providing, recreational facilities, and/or organising recreational activities, which will be available to members of the public at large with the object of improving the conditions of life of the Community and following principles of sustainable development which meets the needs of the present without compromising the ability of future generations to meet their own needs.
(c) To advance community development, including urban or rural regeneration, following principles of sustainable development which meets the needs of the present without compromising the ability of future generations to meet their own needs.
(d) To advance the education of the Community about its environment, culture, heritage and/or history.
(e) To advance environmental protection or improvement including preservation and conservation of the natural environment, the promotion of sustainable development, the maintenance, improvement or provision of environmental amenities for the community and/or the preservation of building or sites of architectural, historic or other importance to the community.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The date for end of year accounts remains 30th September 2024 and the AGM will be held on the 13th of February 2025 in person at the Uig Community Centre.
UDT hold the property comprising the Community Shop and Filling Station on behalf of the Community. The lease between UDT and UCCL obliges UCCL to operate, maintain and replace the leased facilities and this is properly managed through regular meetings with the UCCL Shop Management Committee. UDT receive rent, reflecting current commercial rental costs, from UCCL. The majority of this rent is placed in a 'sinking fund' to finance the cost of future asset improvements. A rent review was last carried out in August 2023. UDT also owns land to the rear of the current business units at Eireastadh. This is the site of the proposed new business units.
Other Projects
-
Uig Walking Map - In excess of 300 maps sold this year and £320 income earned. UDT is very keen to promote responsible outdoor access and continues to look for ways to do this.
-
Sheiling Project - The shieling continues to be rented out for overnight stays. The income generated from this is over £2,000 for the general unrestricted fund. Reviews have been very positive, and several improvements have been made to the shieling.
-
The Uig Development Trust continues to work with and support other groups in the area with their plans and funding applications.
Page 1
UIG DEVELOPMENT TRUST SCIO
Report of the Trustees for the Year Ended 30 September 2024
FINANCIAL REVIEW
Reserves policy
The trustees aim to have three months' reserves to be held in cash in the bank account in order to cover normal expected outgoings.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Uig Development Trust is a Scottish Charity Incorporated Organisation (SCIO) and its objectives are governed by its constitution and regulated by the Office of the Scottish Charity Regulator (OSCR).
Risk management
The Trustees have taken steps to discharge their duty to identify and review the risks to which the charity is exposed and to put in place controls to provide reasonable assurance against fraud, error and adverse financial conditions. These are set out in the recent Charity's Business Plan (Issue 3 2020-22).
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
SC047581
Independent Examiner
Mann Judd Gordon Ltd Chartered Accountants 26 Lewis Street Stornoway Isle of Lewis HS1 2JF
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
UIG DEVELOPMENT TRUST SCIO
Report of the Trustees for the Year Ended 30 September 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution, requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution. 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 10 March 2025 and signed on its behalf by:
Page 3
Independent Examiner's Report to the Trustees of Uig Development Trust SCIO
I report on the accounts for the year ended 30 September 2024 set out on pages five to twelve.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention :
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
-
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mann Judd Gordon Ltd Chartered Accountants 26 Lewis Street Stornoway Isle of Lewis HS1 2JF
10 March 2025
Page 4
UIG DEVELOPMENT TRUST SCIO
Statement of Financial Activities for the Year Ended 30 September 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities 5 Charitable activities - Other trading activities 3 15,925 Investment income 4 725 Total 16,650 EXPENDITURE ON Charitable activities 6 Charitable activities 5,517 Depreciation 340 Total 5,857 NET INCOME 10,793 Transfers between funds 13 6,178 Net movement in funds 16,971 RECONCILIATION OF FUNDS Total funds brought forward 45,689 TOTAL FUNDS CARRIED FORWARD 62,660 |
Restricted fund £ - 53,231 - - 53,231 25,912 5,179 31,091 22,140 (6,178) 15,962 107,527 123,489 |
30.9.24 Total funds £ - 53,231 15,925 725 69,881 31,429 5,519 36,948 32,933 - 32,933 153,216 186,149 |
30.9.23 Total funds £ 50 38,476 14,600 118 53,244 31,041 5,519 36,560 16,684 - 16,684 136,532 153,216 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
UIG DEVELOPMENT TRUST SCIO
Balance Sheet 30 September 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 11 1,361 CURRENT ASSETS Cash at bank 64,692 CREDITORS Amounts falling due within one year 12 (3,393) NET CURRENT ASSETS 61,299 TOTAL ASSETS LESS CURRENT LIABILITIES 62,660 NET ASSETS 62,660 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 100,881 22,608 - 22,608 123,489 123,489 |
30.9.24 Total funds £ 102,242 87,300 (3,393) 83,907 186,149 186,149 62,660 123,489 186,149 |
30.9.23 Total funds £ 107,761 52,895 (7,440) 45,455 153,216 153,216 45,689 107,527 153,216 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 10 March 2025 and were signed on its behalf by:
The notes form part of these financial statements
Page 6
UIG DEVELOPMENT TRUST SCIO
Notes to the Financial Statements for the Year Ended 30 September 2024
1. 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 Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 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 financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement 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 directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Buildings | - 2% depreciation on cost |
|---|---|
| Extension to buildings | - 10% depreciation on cost |
| Renewable energy equipment | - 5% depreciation on cost |
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.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
| 30.9.24 | 30.9.23 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| Donations | - | - | - | 50 |
continued...
Page 7
UIG DEVELOPMENT TRUST SCIO
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| 3. | OTHER TRADING ACTIVITIES | |||||
|---|---|---|---|---|---|---|
| 30.9.24 | 30.9.23 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| £ | £ | £ | £ | |||
| Rental income | 13,000 | - | 13,000 | 12,251 | ||
| Tourist maps | 320 | - | 320 | 298 | ||
| Sheiling income | 2,605 | - | 2,605 | 2,051 | ||
| 15,925 | - | 15,925 | 14,600 | |||
| 4. | INVESTMENT INCOME | |||||
| 30.9.24 | 30.9.23 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| £ | £ | £ | £ | |||
| Deposit account interest | 725 | - | 725 | 118 | ||
| 5. | INCOME FROM CHARITABLE ACTIVITIES | |||||
| 30.9.24 | 30.9.23 | |||||
| £ | £ | |||||
| Grants | 53,231 | 38,476 | ||||
| Grants received, included in the above, are as follows: | ||||||
| 30.9.24 | 30.9.23 | |||||
| £ | £ | |||||
| Highlands & Islands Enterprise | 20,967 | 19,531 | ||||
| Foundation Scotland | 32,264 | - | ||||
| Scottish Land Fund | - | 18,945 | ||||
| 53,231 | 38,476 | |||||
| 6. | CHARITABLE ACTIVITIES COSTS | |||||
| Support | ||||||
| Direct | costs (see | |||||
| Costs | note 7) | Totals | ||||
| £ | £ | £ | ||||
| Charitable activities | 30,307 | 1,122 | 31,429 | |||
| Depreciation | 5,519 | - | 5,519 | |||
| 35,826 | 1,122 | 36,948 |
continued...
Page 8
UIG DEVELOPMENT TRUST SCIO
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
7. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance | |
| costs | |
| £ | |
| Charitable activities | 1,122 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.
9. STAFF COSTS
Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Project officer No employees received emoluments in excess of £60,000. |
30.9.24 £ 20,720 664 21,384 30.9.24 1 |
30.9.23 £ 26,483 109 26,592 30.9.23 1 |
|---|---|---|
10. COMPARATIVES WITH PREVIOUS YEAR FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 50 Charitable activities Charitable activities - Other trading activities 14,599 Investment income 118 Total 14,767 EXPENDITURE ON Charitable activities Charitable activities 2,412 Depreciation 340 Total 2,752 |
Restricted fund £ - 38,476 1 - 38,477 28,629 5,179 33,808 |
Total funds £ 50 38,476 14,600 118 53,244 31,041 5,519 36,560 |
|---|---|---|
continued...
Page 9
NET INCOME
12,015
4,669
16,684
continued...
Page 9
UIG DEVELOPMENT TRUST SCIO
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
| 10. | COMPARATIVES WITH PREVIOUS YEAR FOR THE STATEMENT OF | COMPARATIVES WITH PREVIOUS YEAR FOR THE STATEMENT OF | COMPARATIVES WITH PREVIOUS YEAR FOR THE STATEMENT OF | COMPARATIVES WITH PREVIOUS YEAR FOR THE STATEMENT OF | FINANCIAL | ACTIVITIES |
|---|---|---|---|---|---|---|
| - continued | ||||||
| Unrestricted | Restricted | Total |
||||
| fund | fund | funds | ||||
| £ | £ | £ | ||||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 33,674 | 102,858 | 136,532 | |||
| TOTAL FUNDS CARRIED FORWARD | 45,689 | 107,527 | 153,216 | |||
| 11. | TANGIBLE FIXED ASSETS | |||||
| Extension | Renewable |
Fixtures | ||||
| to | energy | and | ||||
| Buildings | buildings | equipment |
fittings | Totals | ||
| £ | £ | £ | £ | £ | ||
| COST | ||||||
| At 1 October 2023 and | ||||||
| 30 September 2024 | 70,691 | 16,778 | 49,332 | 3,396 | 140,197 | |
| DEPRECIATION | ||||||
| At 1 October 2023 | 6,210 | 10,068 | 14,800 | 1,358 | 32,436 | |
| Charge for year | 1,035 | 1,677 | 2,467 | 340 | 5,519 | |
| At 30 September 2024 | 7,245 | 11,745 | 17,267 | 1,698 | 37,955 | |
| NET BOOK VALUE | ||||||
| At 30 September 2024 | 63,446 | 5,033 | 32,065 | 1,698 | 102,242 | |
| At 30 September 2023 | 64,481 | 6,710 | 34,532 | 2,038 | 107,761 | |
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 30.9.24 | 30.9.23 | |||||
| £ | £ | |||||
| Payroll creditors | 2,426 | 4,221 | ||||
| Accrued expenses | 967 | 3,219 | ||||
| 3,393 | 7,440 | |||||
| 13. | MOVEMENT IN FUNDS | |||||
| Net | Transfers | |||||
| At | movement | between | At |
|||
| 1.10.23 | in funds | funds | 30.9.24 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 45,689 | 10,793 | 6,178 | 62,660 | ||
| Restricted funds | ||||||
| General fund | 107,527 | 22,140 | (6,178) | 123,489 | ||
| TOTAL FUNDS | 153,216 | 32,933 | - | 186,149 |
continued...
Page 10
UIG DEVELOPMENT TRUST SCIO
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 16,650 Restricted funds General fund 53,231 TOTAL FUNDS 69,881 Comparatives for movement in funds At 1.10.22 £ Unrestricted funds General fund 33,674 Restricted funds General fund 102,858 TOTAL FUNDS 136,532 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 14,767 Restricted funds General fund 38,477 TOTAL FUNDS 53,244 |
Resources Movement expended in funds £ £ (5,857) 10,793 (31,091) 22,140 (36,948) 32,933 Net movement At in funds 30.9.23 £ £ 12,015 45,689 4,669 107,527 16,684 153,216 Resources Movement expended in funds £ £ (2,752) 12,015 (33,808) 4,669 (36,560) 16,684 |
|---|---|
continued...
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UIG DEVELOPMENT TRUST SCIO
Notes to the Financial Statements - continued for the Year Ended 30 September 2024
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds General fund TOTAL FUNDS |
At 1.10.22 £ 33,674 102,858 136,532 |
Net movement in funds £ 22,808 26,809 49,617 |
Transfers between funds £ 6,178 (6,178) - |
At 30.9.24 £ 62,660 123,489 186,149 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 31,417 | (8,609) | 22,808 |
| Restricted funds | |||
| General fund | 91,708 | (64,899) | 26,809 |
| TOTAL FUNDS | 123,125 | (73,508) | 49,617 |
Transfers between funds
The transfers between funds relate to surplus cash held for completed projects accounted for in the Restricted General Fund.
The only project remaining in the Restricted General Fund at the year-end with a cash balance related was to the Business Unit Project Officer, with funding from Foundation Scotland to be used in 2024/25..
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2024.
Page 12
UIG DEVELOPMENT TRUST SCIO
| Detailed Statement of Financial Activities | Detailed Statement of Financial Activities | Detailed Statement of Financial Activities | |||
|---|---|---|---|---|---|
| for the Year Ended 30 September 2024 | |||||
| 30.9.24 | 30.9.23 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS | |||||
| Donations and legacies | |||||
| Donations | - | - | - | 50 | |
| Other trading activities | |||||
| Rental income | 13,000 | - | 13,000 | 12,251 | |
| Tourist maps | 320 | - | 320 | 298 | |
| Sheiling income | 2,605 | - | 2,605 | 2,051 | |
| 15,925 | - | 15,925 | 14,600 | ||
| Investment income | |||||
| Deposit account interest | 725 | - | 725 | 118 | |
| Charitable activities | |||||
| Grants | - | 53,231 | 53,231 | 38,476 | |
| Total incoming resources | 16,650 | 53,231 | 69,881 | 53,244 | |
| EXPENDITURE | |||||
| Charitable activities | |||||
| Wages | - | 20,720 | 20,720 | 26,483 | |
| Pensions | - | 664 | 664 | 109 | |
| Telephone and internet | - | 411 | 411 | 370 | |
| Office costs | - | 766 | 766 | 911 | |
| Subscriptions | 90 | - | 90 | 180 | |
| Professional fees | 4,221 | - | 4,221 | - | |
| Room rental | - | 2,625 | 2,625 | - | |
| Sheiling running costs | 559 | - | 559 | 1,474 | |
| No description | - | 251 | 251 | - | |
| Depreciation - buildings | - | 1,035 | 1,035 | 1,035 | |
| Depreciation - extension | 340 | 1,337 | 1,677 | 1,677 | |
| Depreciation - equipment | - | 2,467 | 2,467 | 2,467 | |
| Depreciation - fixtures and fittings | - | 340 | 340 | 340 | |
| 5,210 | 30,616 | 35,826 | 35,046 | ||
| Support costs | |||||
| Governance costs | |||||
| Accountancy and legal fees | 647 | 475 | 1,122 | 1,514 | |
| Total resources expended | 5,857 | 31,091 | 36,948 | 36,560 | |
| Net income/(expenditure) | 10,793 | 22,140 | 32,933 | 16,684 |
This page does not form part of the statutory financial statements
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