REGISTERED CHARITY NUMBER: S8C050655
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2025
for
GARRABOST GNIOMBACH : ACTIVE GARRABOST
Mann Judd Gordon Ltd Chartered Accountants 26 Lewis Street Stomoway Isie of Lewis HS1 2JF
GARRABOST GNIOMHACH : ACTIVE GARRABOST
==> picture [295 x 203] intentionally omitted <==
----- Start of picture text -----
Contents of the Financial Statements
for the Year Ended 31 March 2025
Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to Il
Detailed Statement of Financial Activities 12
----- End of picture text -----
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Report of the Trustees for the Year Ended 31 March 2025
The Trustees present their report with the financial statements of the charity for the period | April 2024 to 31 March 2025. 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] | January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The organisations purposes are; the advancement of education, the advancement of citizenship and community regeneration, the advancement of arts, heritage, culture or science, including the historical and cultural heritage of the former Garrabost Milt and other industrial heritage sites and premises and past crofting, fishing and other traditional occupations, along with any related and associated sites, buildings or common areas of importance to the community. The advancement of environmental protection or improvement of the above.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Purchase of the Mill buildings and site was completed on 9 January 2023 and, with funding bids having been successful, repair works to the buildings started soon afterwards. This work is continuing at year end, while information about how the mill worked is also being written up. This is with the aim of having a complete restoration of the Mill ensuring it will be an important part of our industrial heritage and a valued visitor attraction.
FUTURE PLANS
After completion of the current repairs, we aim to make sure all the working components of the Mill are safe to use and in good condition. It is likely that a visitor centre will be needed with adequate services to allow visitors to see and understand how the Mill was part of the life of Garrabost and the rest of Point.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Garrabost Gniomhach is a Scottish Charitable Incorporated Organisation (SCIO),
The charity is administered with the terms set out in the Constitution of Garrabost Gniomhach SCIO.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number CS8004972 (Scotland)
Registered Charity number $C050655
Registered office
Page |
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Report of the Trustees for the Year Ended 31 March 2025
Independent Examiner
Mann Judd Gordon Ltd Charlered Accountants 26 Lewis Street Stornoway Isle of Lewis HS1 2J)F
==> picture [331 x 12] intentionally omitted <==
----- Start of picture text -----
Approved by order ofthe board of trustees on 27 May 2025 and signed on its behalf by:
----- End of picture text -----
Page 2
Independent Examiner's Report to the Trustees of Garrabost Gniomhach : Active Garrabost
I report on the accounts for the year ended 31 March 2025 set out on pages four to eleven
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. Ii 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 ofthe 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 audil, 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
-
10 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
Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway Isle of Lewis HIS1 2JF
27 May 2025
Page 3
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Statement of Financial Activities for the Year Ended 31 March 2025
==> picture [464 x 272] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|31.3.25|31,3.24|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|2|-|94,443|94.443|55,947|
|EXPENDITURE ON|
|Charitable|activities|
|Charitable|-|4,916|4,916|4,725|
|Other|-|36|36|72|
|Total|-|4,952|4,952|4,797|
|NET|INCOME|-|89,491|89,491|51,150|
|RECONCILIATION|OF FUNDS|
|Total|funds|brought|forward|72|361,537|361,609|310,459|
|TOTAL|FUNDS CARRIED|FORWARD|72|451,028|451,100|361,609|
----- End of picture text -----
The notes form part of these financial statements
Page 4
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Balance Sheet 31 March 2025
| 31.3.25 | 31.3.24 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 5 | - | 441,024 | 441,024 | 301,035 |
| CURRENT ASSETS | |||||
| Cash at bank | 72 | 10,604 | 10,076 | 60,574 | |
| NETCURRENT ASSETS | 72 | 10,004 | 10,076 | 60,574 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 72 | 451,028 | 451,100 | 361,609 | |
| NET ASSETS | 72 | 451,028 | 451,100 | 361,609 | |
| FUNDS | 6 | ||||
| Unrestricted funds | 72 | 72 | |||
| Restricted funds | 451,028 | 361,537 | |||
| TOTALFUNDS | 451,100 | 361,609 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of[its][financial][statements][for][the][year][ended][31][March][2025] in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view ofthe state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company
The financial statements were approved by the Board of Trustees and authorised for issue on 27 May 2025 and were signed on its behalf by:
The notes form part of[these][financial][statements]
Page 5
continued...
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Balance Sheet - continued 31 March 2025
The notes form part of[these][financial][statements]
Page 6
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Notes to the Financia] Statements for the Year Ended 31 March 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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.
Taxation
The charity is exempt from corporation 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
| 2. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 31.3.25 | 31.3.24 | ||
| £ | £ | ||
| Grants | 94,318 | $5,947 | |
| Book sales | 125 | - | |
| B4ass | 55,987 |
Page 7
continued...
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
- DONATIONS AND LEGACIES - continued
Grants received, included in the above, are as follows:
==> picture [428 x 85] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|31.3.25|31.3,.24|
|£|£|
|Comhairle|Nan|Eilean|Siar|-|6,834|
|Point|and|Sandwick|Trust|55,000|-|
|Highlands &|Islands|Enterprise|39,318|39,153|
|An|Treas|Roinn|Innse|Gall|-|10,000|
|94,318|55,947|
----- End of picture text -----
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 3] March 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
- COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
==> picture [435 x 261] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|
|fund|fund|funds|
|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations and|legacies|-|55,947|55,947|
|EXPENDITURE ON|
|Charitable|activities|
|Charitable|-|4,725|4,725|
|Other|-|72|72|
|Total|:|4,797|4,797|
|NET|INCOME|-|51,150|51,150|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|72|310,387|310,459|
|TOTAL FUNDS CARRIED|FORWARD|72|361,537|361,609|
----- End of picture text -----
Page 8
continued...
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Notes te the Financial Statements - continued for the Year Ended 31 March 2025
==> picture [459 x 462] intentionally omitted <==
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|5.|TANGIBLE|FIXED|ASSETS|
|Improvements|Fixtures|
|Freehold|to|and|
|property|property|fittings|Totals|
|£|£|£|£|
|COST|
|At|||April|2024|63,998|237,037|-|301,035|
|Additions|-|122,674|17,315|139,989|
|At|31|March|2025|63,998|359,711|17,315|441,024|
|NET BOOK|VALUE|
|At|31|March 2025|63,998|359,711|17,315|441,024|
|At|31|March|2024|63,998|237,037|-|301,035|
|6.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1.4.24|in|funds|31.3.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|72|-|72|
|Restricted|funds|
|Restricted|361,537|89,491|451,028|
|TOTAL FUNDS|361,609|89,491|451,100|
|Net|movement|in|funds,|included|in|the above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Restricted|funds|
|Restricted|94,443|(4,952)|89,491|
|TOTAL FUNDS|94,443|(4,952)|89.491|
----- End of picture text -----
Page 9
continued...
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
6. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
==> picture [431 x 439] intentionally omitted <==
----- Start of picture text -----
|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|Al|
|At|1.4.23|in|funds|31.3.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|72|-|72|
|Restricted|funds|
|Restricted|310,387|$1,150|361,537|
|TOTAL FUNDS|310,459|51,150|361,609|
|Comparative|net|movement|in|funds,|included|in|the|above|are as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Restricted|funds|
|Restricted|$5,947|(4,797)|51,150|
|TOTAL FUNDS|55,947|(4,797)|31,150|
|A|current|year|12|months|and|prior year|12|months|combined|position|is|as|follows:|
|Net|
|movement|At|
|At|1.4.23|in|funds|31.3.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|72|-|72|
|Restricted|funds|
|Restricted|310,387|140,641|451,628|
|TOTAL FUNDS|3 10,459|140,641|451,100|
----- End of picture text -----
Page 10
continucd...
GARRABOST GNIOMHACH : ACTIVE GARRABOST
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
6. MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
==> picture [431 x 89] intentionally omitted <==
----- Start of picture text -----
|||||
|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Restricted|funds|
|Restricted|150,390|(9,749)|140,641|
|TOTAL FUNDS|150,390|(9,749)|140,641|
----- End of picture text -----
ita RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
Page tl
GARRABOST GNIOMHACH : ACTIVE GARRABOST
==> picture [464 x 382] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Detailed|Statement|of|Financial|Activities|
|for|the|Year|Ended|31|March|2025|
|31.3.25|31.3.24|
|£|£|
|INCOME|AND|ENDOWMENTS|
|Donations|and|legacies|
|Grants|94,318|$5,947|
|Book|sales|125|:|
|94,443|55,947|
|Total|incoming resources|94,443|55,947|
|EXPENDITURE|
|Other|
|AGM|&|Meeting|costs|36|72|
|Support|costs|
|Management|
|Insurance|4,218|3,171|
|Advertising|-|135|
|Sundries|68|789|
|4,286|4,095|
|Governance|costs|
|Accountancy|fees|630|630|
|Total|resources|expended|4,952|4,797|
|Net income|89.49 ]|$1|: 150|
----- End of picture text -----
This page does not form part of the statutory financial statements
Page 12