Comp•ry regi•tratk>n numb•r SC670324 (Scollandl Charfty rngl¥tration numb•r SC050787 IScoU•ndl FARR NORTH COMMUNITY DEVELOPMENT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
FARR NORTH COMMUNITY DEVELOPMENT TRUST LEGALAND ADMINISTRATIVE INFORMATION K Celh C Easti (Appointed 12 December 20241 IAFPJInt 11 Je 20251 K KirMJ Charfty nwnb•r (Sctyltsndl SCO50787 Cofflpany nnts•r SC670324 Regl8tered offlc• NaverTeleseThKx Gèntr• Thurso KM4 7SS Independenl ex•mln•r A.J.B. Sd•$ Ltd 8 Aert Str Kirkwall Ot*ney KWIS 1HP
FARR NORTH COMMUNITY DEVELOPMENT TRUST CONTENTS P•ge Trus1¥os' report In¢Jependent •xarninerfs report Statemenl of financial adivities Bal8n¢e sheèt Notes to the financial statements 8-16
FARR NORTH COMMUNITY DEVELOPMENT TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT} FOR THE YEAR ENDED 31 AUGUST 2025 The IFUStw pr¢sent their rjaI report arKI finalK $latemenls fol the year end•d 31 August 2025 The financial 51atements have been PTepared in a¢cordan¢È WTih the aecfjUn'ng pdraes sel oul In note 1 to the finan<Jal sleMentS and comply wilh the trusf5 ernandUffl and artides of association. the Charities ané Truste8 1nvestffnt Iscollandl Ad 2005. the Charities Aco)unts {SccI1a RegulatKy)$ 2CM)6 la$ 8rnendedl and"Accounttng and Reporting by Charits. Stalemt of Re(¢mmended PratY appficaL to charilies preparing theiT accounts in ac£ordanee wth the FinancAal RwbrvJ Standd apphcable in ts VK and Re1 of Ireland IFRS 1021. (effective l January 20191. Obj8Gtlv•• and •cllvltl The trusfs objects are.. 1. to provJe or advartè Ihè SSibl1rtY of leCreatv. facility andl N 1xgl$g T¢10nal tltieS, which 11 be available lo mernbeY6 of the tsjmmunty and Wb1 the objecl of imFming the CCYHlitiors ol life ol Ihe communty.. 2. Ihe advanceffenl olcitizenshp or ccrnunrfy dekynent. induding ftwal or uwban re9ener8ti0n", 3. lo advance the p¥ovis¢Ms for edurath¢Mal opp01tsm in Ihe c4MUnty latsn9 to enwronmont. 0jnu. hwitage (V or history.. and 4 to advance envircmmental proteciw +y improvement wesw8tion, sustain8t4e devejoprnent and conservation ol thg natural environment. the maintenance, irnprovement or provison of envifonmenlal amenities for the community andl or the preserv81ion ol buudiros or wte$ of Arthrtedural, bislori¢ or other importance lo the eomffiuthty. Achievemtnts and WrfOan SnifiC8n1 achvihes and èclsievemenls 8gainst ObjriveS Farr North Commut7ity Devdopment Trust is rywned by the CThmmunty ol Fan NLVth Sutherfand. The an(Jent Parish of Fa indudes the c4Jwrent communty couml areas d 11 Melvich 21 Strathy and Amiad81e an¢J 31 Bettyliii Slrathnaver and Altnaharra. It is an afea ol 8pproxim8lely 1Cth sq km and Is hom8 to stighly less than 1(XJO peoplts. The Trust was set up n 2021. to enab tr COMMlty Farr to benefft from fund5 arising from the siting of eneryy installations. indudirJ the Community Benefft Funds anLI to exF4ore parb"81 Community ownership opportunities. to sèojre nger4erM fiJnding. This report tovers the fouth fvll year ol activity Al the AGM } April 2025 the Chair iesigned as they were mviro knTay from Ihe a'.ea and a new Char decled al the Jun¢ Board Meeting We continued wrf¢h fv part time slaff and In Novembof 2025 recn4lwS a part tim• project officerldriyer. lor the Transport Ptoied refwred to a8"F9 GLS". TRANSPORT Lack of awss to senrices and ameni1 is an issue in am rural commnthes. It limit5 thè ease with whith people ¢an attend medical xppointments. take part in lrfe and see fn8ntls. Lack of 8CCt5$ amplifies the Impa of rMJVÈrty Irap8, frKting poor•r househokls lo make expensNe thores and potentsally inhibt'ling takmg up training opportunitiès arnployment As rÈported last year. Ihanks to The Sutherf8nd R8&hence Inrh8tNo. we ao)wred use of on car, whid) arrived trmards thè end the aecounling period. Dunng tris repcrftirtg year we recruiled 8 Project Officer, firsuy on 8 temporary &month contract which was then eIeIed, lUrd by SSE Renewable5 The seryice Is overseen by a Steerin9 Group of vcAunteers. Alt)ah several volunteers spjned up as dnvers. wcwknThJ 9theduks 8re such Ihai available volttntegr5 are minimal. We have Ined different inrtiatNe$ but found that the proiecl officef is the main drver and thèrefore wrth less bme Ihan antswaied develcpment actMtie$. Howevef due to the CWSfientKJUS 3re of the indivhlual and the support from thè Stwing Group an(J one voluntew does a lol of dnving. Iho serwio has steadily grown EXpen0n aL8o shthd thAt the 5Enall provided by the Sutherfand Resilnce Initiatsve wa$ diffiryjtt for less rnobik passeThJers. so we acquired a second Gar with funding from The Highland Counal Comrnunity Regenerab"on Fund, the BeWIll. Slrathnaver and Aknaharra Community CouncAI and SSE Renewables. We are cuffenlly trying io raise fvrther fijnds to put the Serv on 8 Stsb base and expand driver hours.
FARR NORTH COMMUNITY DEVELOPMENT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 CARE Last year we reported on a pik)t of 10 meelws of a W(vnens Health and Wellbein9 Group. Thi8 group altracied 55 atterKlees and rnet rts cmJtco8 of Inueasing pariicipation. irKfeasing u)nfiderKe an¢J rnducing isolatson. UnfortuTratdy, we were unsuccessful in acquiring further Yunding and haven't folltywed up sir. We also pVIouY rewled on su5$jI[y recemng funding for Faff Eats 3. provKJing hot meals lotalty launched in January 2025. DemaThl has sieadily reduceLI the first Farr Eais so don't pl to apply lor ftjrther fundin9. unless there is a step dwge in ¢iroJmStans. APPRENTICESHIPS Our Apprentirxship wogramme contsnued to Supp an aFlhip in wortul1ue 8ftd Green KeeFing with Thurso GOW Course. HOUSING We explofe(I the use or ffte Bettyhin Church and Manse for hsing opp)rtunils tJt conduded that thè age and structure of the buildings made them unsuttstde A $19 needs SLThey was undertaken with the final report being published 8t the end 012025. prwdirwJ 8 basis lor lubj vth. STRATEGY Strategy sessions were held in 2025. faril#Xted. m part. by Devdopment Twst AssorAatirHt S(x)tlanrl and attended by some mernbèrs of the Board and associated Community Counrils. Subsequent Board discussions Identified a need lo be more MMunrtY led and impTofftg (Njr recu¢ on delNenng tangible projects. Post this reporting penod we have pursued Impro¥fftg In très• areas. MAXIMISE THE 8ENEFITS ACCRUING FROM LOCAL hMND FARM DEVELOPMENTS Community Shared OvMefSh ol renewable energy Installab.($. 1$ a kng-standing aspiration of the Scthbsh Govemmenl. For the comrnunty. il wwid provide loTrJ term lun¢Jing bul 89reements are legalty and financially much MO cAJmplex than the Trust and Community have evef d8alt with For wind in Scotland Ihere are no Èxatnples lo date whebY a COmmnity has purchased part of a developer in$tallation. Eden Tenaes, wh are developtng the Bellyhill proJ8Ct we keen lo In¥0e the Community and recognise Ihe challenges iftvolved and we continue to wk th them on what 8 finanool legal nThyJel Thvjhl look h.ke SSE renewa have decided to change their awoach for Ihe Strthy South prw. sitKe Ihe tirning lor community partiopalH)n i8 irthnsisterl wilh thoir Thestmenl bme tables. TcrAar#s lh¢ end ol Ihra reporting year we We close to agreeiTTrg on 8 sub51itule agreement to provide £3[k lor 5 years %wlh a loThJer-lerm plan to explofe ftjture part trwnership. We eonsequently dKI &gn an agreement at the end of Oclober 2025 POST August 2025 SIrtlY after the end 9f this reporting peritid. we have been through a thallenging penod as the Trust devdoped into the next level of gTowM. This is necessary as Community Benefrt funJs are inc¥easin9 v have Strengthened our nancial management sOUrCe by Lrtiling a professirmally qualffjed finanttal nwiager on a contracted hours bas. We are expbnng how to improve our attenbon to rekvant governance matters. usiTrg advi fro¥n Voluntary Groups Scolland. We are working dosdy wth Ihe three CL¥nmunity Counols a deveknpment pn, that we antirypate will identity tangible projects for the Trus1 to lake . 3150 need to continue to fund r8ise and ensure slable ernployment opportunities for staff. Flnanclal ¥09 In¢omng resLwrces in Ihe period totaled £164.851. Resour$ expen(1od in the period totalled £111.482. The chaTrtYs funds at Ihe balantx dale lotaled £148.870 of £130,412 was hekl festricted purp)ses, as fvrther set oul in the tK)tes lo the fin031 statements
FARR NORTH COMMUNITY DEVELOPMENT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Restrryes pollcy Th• trust ts committed lo maintaintng 8 thel of reseNes Ihal 1$ prudent to meet rts On90in9 Ik4bilrties and lo prol•Ct Ihe long-lem futu ol its adl¥it9 8nd Dssets. The trusvs reseFves polKy seek5 to balance these PrigTib"¥5 by hdding o level of reserves suffitjent to ensurt Ihe aVaILlIrtY of suifvient funds in h•nd. The tfU$t is commrtted to Secwing inueased lundir4J for 0per4ti¢)n adMts. Slructur•. govemanc• •nd m¥n+nt The trust 1$ a company limrted by guarantee goVerd by ts emrm ArlKles of As80oabc. It is rtrgi5te as a thaiity vAth thè Office of the Sc3Jlts"sh Chwthes Regulator. Fary North is an ambrtious organisaticm wth that ambition e$ 8 requirement to manage th• gani$.0n propety, m line with bèst practic wth rnaxinvjm ae£c1Jntabty and transp8renry We are delvJhted lo hav 5CessfUllY updated our Artths ofAssociation to bring us into line with the latest gUanCe rdaling to Communty Righl to Buy legisL8tion took the oppUnty to change ow ¥tides to enaL4e communty ¢ounals to apwnt Directors to our Board In this way hope lo Lwaden fv demw 0)ntr of our 81thity 8nd unrfy main drivers ofcammunty Devd¢)yrent 8ryoss Fwr. The trustees. who are •Lso the diredors for the purrse of corrw LAW, 4wvJ vkno Seed dlmg the year oThJ w) to the dat? 01 $gn8Iu ofthe an0a1 5taiements werè.. H 818ck K Ct11i C Easthcpe P Fitto A Hardw A Herfvrt K King S Matthews C Simps IApw"nted 4 September 2024 and resign8d 23 June 20251 (Apw"nt6d 12 t)etsmter 20241 IR¥&gneé 11 Jlme 2025} {AppOin1 11 ne 2025) (Resigned 21 Auwst 20251 R•eruitmenl #nd appc¥nlrnent of trnsl8es At our fifth AGM to be held in Jufte 202e. tte is a requir•mpni for 1r3 of tyjr eke(1 Dir•cors to slep d(hffj, 8hhough Ihey will be digible for re-eleciion. cumtty h8¥e SIX L)r8dots. IdIng FIVE eCed directors. The constrtution provides lor up to NINE eded dir¢dors. and a fiKther ed L¥ 8Fwinted diredors up lo maxirnum ofTWELVE Direct¢ys in tot. To be effecve the Trusl rneed5 representatitift from all seclrx5 d tyJr commwxty and we like lo see a more dNerse 8oard membership. Wlh bJnds renewatle energy insl8mats.ons beng incAèasingW availat4e rt is Incumb¢ upon the Board ol Tfu&ees to nvest Ihese wisdy and deliver vdued benef1ts to the c0mrnunits, both for shorl. medium and loThJ•r temi. It Is an iMptsnt and thalknging rde. If memtrs kn of sorneone who thLtld us in thi$ plea8e entlage tham 10 contscl 8 rnefflb of the Board and find wt mcY¢. On 8 final note. as of April 2028. aller o¥er 5 years wking as Trust m8na9er SThon Lee 18 le9n9 Farr Norlh coMmnty Dtvtrlopment TnJst. SIM ovefw ceabon ol the Trust and gui¢Yed it thrsJJgh rts arfy years. Having lust secyr•d 8 arrangement wilh SSE Renvwabks bolh &mon 8nd the Board leel that th• lim8 is right for him to step A$e as the Trust r$ a new phase ilh Ihe feswrces to m8ke 8 dffleren in trjr eommunitie¥. Owanis8tithry81 The board ofeOr8 aLknini5tern the thaiity. The ttsrd meels requ1 io disojss tht var*rfn Fwclects. None ol th• directors has any 8fiCIal interest in the company. All of the dirèctots are membèrs d th8 ¢>JllP8fly
nd agree to ¢tribUte £1 in the event ol a Tmndiryd UP.
FARR NORTH COMMUNITY DEVELOPMENT TRUST TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The trustees, r•port was approved by thè Boor¢ ofTrustees. S Uatthe Truste• Datè..
FARR NORTH COMMUNITY DEVELOPMENT TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FARR NORTH COMMUNITY DEVELOPMENf TRUST I on Ihe f#ianu $18temenls of the tN81 for thè year •nd•d 31 Augu6t 2025. whKth sét out on p$ 8 to16 Re8pectlv• rn•pon•ibllltl•• of trte •nd •xafflln The trust's trustees, who are $0 the threct(n of Norlh Comrnunity Devewmenl Trust lor Iha w4)oses of C4ynpany law, arts re4)onyble for Ihe pr8w8bon of Ihe fmancial 6taternents atrord8nce bth the twms of the Charities and Tiuslee Invemtrnts (Scotlandl 2(X)5 and Ihe Charth88 AccMts ISc¥)U8ndl RegulanS 2W. The trustees consider that the audit requirnmeni ol Regulat 10(1Mal to 1¢) of th• 2CQ6 ACcnIS RegLJlatsons does not apy. It 15 my reSrx)nbII[ty to •X¥me the finawal 51atements as requi tmder 4411IIGI of the Acl and lo stale whether particlar mattw5 hav• to my attents"c. 8881 of Ind•pgnd•nt ?x#mlnef• •tatemwrt My exaryNnatk)n is carried oui in accoar¢ wilh Regulation 11 ofth• charlAc¢AntS (SCrKIl ReguLqtson8 20(6. An ?xamination indudes a revi of lh• ttounb"ng rec4yOs kept by Ihe drity #nd A e4ynparison ol t nantsal statements presented Ihose records. It also IneJudè$ ts)nsKJerats"cn ol any unusual rtems or dlsdosu3 in the finaneial 5talements. and seeking expLanions Irom the twslees o)ncerrMnq Any SLK Matters. Thè w¢)ced4Jres undert8ken do not provide all the a¥Jene¢ th•t wtyjld t f•4u¥ad in audrt and Djnsequentty I do nol express an audit cylntm the view gNen by the financ481 st8t•mwrts. lThJ•pendent •y•minerf• •tt•mMt lrt o)nneclion w5th my examinabon. matts has eonw to my arteniion.. lal whth gives me reaab eause to bdieve ihal in matena rèspe# th• requirement•'. to keep acunting recsNds m accudm 44111 lal ol the 25 Ac and P¢gulabon 4 the 21X6Ats)wnt8 R•gulatIry." and (#) to wepare financial statements xt4x¢I with the •CcoU9 rttryds and wlth Reguktlon 8 oftrtw At3 Re9On6'. inm opinion. att¢nti shtyjld be dra4Nn n (¥der to • prtsw undern9 of Ihe 0818tale to be readd. have Ibl to l¥ Hou#tyi artered nlanl t Examiner 8 Albert SITeel Kithal Orkney KW15 1HP Dated".
FARR NORTH COMMUNITY DEVELOPMENT TRUST STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 UrtrICt•d R••trict•d funds hEnd 2025 2025 Totsl Unr••trlci•d Re>trlcted fiJE• fund• 2024 2024 Totsl 2025 2024 Donation5 and egaoes chari¢1e actitreS 1.743 5.180 157,928 159,871 5,180 97 1.814 62.882 62.979 1,814 Tot•1 Income 6.923 157.¥I8 164.851 82.882 84.793 Charitabk actmtios 449 111,033 111.482 7YJ 42,4C#) 43.139 N¥t In¢omlng mourc•• before trn•f•v• 6.474 46,895 53.389 1.172 20.482 21.854 Gros$ transfers befvrfeen funds 1203) Net Incom• for th• yearl Net movement in lund• 6,271 47.($8 1.172 20,482 21.854 Fund balances at 1 September 2024 12.187 83,314 95.501 11.015 62,832 73.847 Fund balan¢M at 31 Augu•t 2023 18,458 130.412 148.870 12.187 83.314 95.501 The st8t¢ment of financaal al¥ItS iThJudes ¥1 8Th1 losw recogni in the year AU ¥MxJme and eXndItur erive from continun9 8dsvrtpe5. The statement of fnandal a¢vth'e$ 4s0 (%¥Wl8s wth the r•twirém*ts kjr an inL>)me and expenditure wxounl under the cpani•S Act 2CKfi.
FARR NORTH COMMUNITY DEVELOPMENT TRUST BALANCE SHEET AS AT31 AUGUST2025 2025 2024 Nots• F4x•d a•8•¢J Tangibk assets 10 449 Curr•nt aM•ts Dtbtors Cash at bank and in hand 11 37.961 61.715 154.29J 155,250 99.676 Cr•dltorn.' amounts hlllng due wlthln one yr 12 14,6241 Nèt eurr•nt a•••t• 148.870 95.052 ToL•l a••el¥ l•M curr•rt Il•bllitlg• 148.870 95,9)1 The ld¥ ofth• trust Restrk#ed incoma funds un311d fiJnds 13 1S 130,412 18,458 83,314 12,187 148,870 95,501 The 0)mY i8 •ntItd to the exgmption Ir tl in secith 477 of the CnpenSAcI 2CXA, f the year ended 31 Augusl 2025. The trust8ès ackncthedge thew fesponsitslities ensuring thal the tharty keeps a¢)Iwrfing rec4)Tds comply seclion 386 of th• Ad and for preparing acrounts whith gve a Inje lair vith¥ of the t8te ol affalrs of the company as at the end ol th• finanaal ye•r of its IfOrning resource5 apvution of resowces, induding rt6 ncom8 and eXF4nditure. ts th? finanaal year in accordancé VTth fequirements of s•GtM)ns 394 aTrJ 395 an vthkh otherwise with the requlr•man18 cl tho Cuy¥es 2CTh r•latry to •cayJrts, 80 fw as ¥pli(• to the company. The members h8ve not requir•d th• CPanY to C ol ts fir(01 sts1•n lor the year In qs110n acaxrdanc¢ *yih 5ecbon 476. These fina1 $tst8mtnts ha¥e l)wn prtpar•d in xoydance wilh the 0Fvli to eonwanie8 subJ•cl to thé Sm1 eoThwie$ wiTh. The finarKkl statements were approved by th• Inlee8 on . .... ..... S Mathews TnJ$te•
FARR NORTH COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Ac¢ourftlng pdlcl•s Charfty Inf0rn7atlon Farr North Community Develop Trust a l¥at0 ComnY limlteé by guarnntee KKtirporated Scoyand. The registe offx 18 NaverTt1È8éMe Ctre, Bettyhil. Thrso. KW14 7SS. 1.1 Basls of proparatI7 The financial ststwnenls have been prèpared ITr acrnrdarv ¥th the tfusvs artides of assotyation, the chariti and Trustee InYestm&rt {ScoUa Act 25, thè Chamies Ae(y)unts ISeotl8ndl Regulations 2006 las amended). FRS 102 'Thè Finanoal ReFth"ng Sl8ndard In the UK and Republic of Iland. I"FRS 102"18rJ thè Char¥lies SORP "Accwntsrg ané Reporting by Charibes" Statem•nt of Recornmended Practice 8pplic4ble to charities weparin9 Ihelr aetounts in accordm with the Financaal ReFK)rting Starhjard zpplicable In the UK arnl Republ of IrdarKI IFRS 1021" (effective 1 JaThu 20191. The trust 15 a Public 8enefil Entty as défineé by FRS 102. The twst has taken advantsge of the in SORP fLY thanbes t1 to prepare a Slaternen¢ ol Cash Flow5. The financial s¢a¢wrents are wepared In sterfing. which is the fiJKiitinal omney of th• Irusl. Monetary 8rn0unls in Ihese financaal slatemerts are rthjnded to Ihe nearest £. The financi81 stalements have bw prepared under the hi¥181 cost LY)nvenb"on. The prinapal aCcn.j policae$ adopted are sd oul bel. 1.2 Golng con¢•rn At the timo of approving the financial staternents. the trustees have a rgasrme expectaticffj that the trusl has odequate restyjrces to cthiftue in operatiorlal existenu for the IeSeeable fitsture. Thjs the Irustees continue to adopt the gOg concem bass of acCOrg in preparry the finantsd statements. 1.3 Charft•bl• fund• Unrestrted funds we av•lable ky usè at the di8c¥ebon ol Ihe trustees in ftwtherCg ol they dwrit8Ne obJ'Ktsves. Désignated hjnds ¢omprise furtds whKh have been set a&de al Ihe dISctn of Ihe trustee5 f(x speofic purposès. Th• Pufposes and uses ol thè deggnated fvnd$ art set In the nottss to finanoal statemerts. Restrcted ftjnds are subject to speclfic ditionS by dorm or granlots #s to Ihtry may be used. The purposes use$ ol the iestrKled ftmds a Set tyjt in the notes to the fffiancial stalwents. 1.4 Incom• Income 1$ recogni5ed when the rwst is Wy eIffjed to it after •ny perf0rrnar 110n8 have b•aTh met, Ihe amount5 can be measured rek'ably, arKI rt is w(thble inwne will be received. Donath"ons. legwes and other foims ol vc4untary income are recKgnised as Ir1j resources in the Slaternent of Finanwl ArtivilS ISOFAI l)en recei¥4¢. tpt insofar as they are incapable Df financt81 rne88urement. The value of 8eNtts pro¥Kled by volunteern has not been induded in these account8. Grants. incluthng gfants the wrchase of fixed 8ssets. are recwniwl in full in Ihe SOFA in the year in whth Ih8y are receiVatP. GTrnts r818tsng io fuiure periods arg (lelerTed.
FARR NORTH COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accoundng pollel•8 (cont1ndI 1.S Expenditwè ExpenditLJf? ¥8 induded resour on an 4Ca7uas b•8is. indusiv¢ ol any VAT 1¢ cant be recovwed. Costs of genérating fvnds o)rwse th• tsjsts assocaated wlh attrxtsng volunt•ry income and the of lundrai%ng events. Chtr%tsble expenditwti compris•s tlw costs in th• d8tNery ofthe thwitys acti118$ servKes for rts beneficiariÈs It indudes both costs Ihat Gon be anocated direth to suth and those $ts of an indired naivre nKessary Supp1 them. quiremenls ofthe thanty. 1.6 T¥nglble Ilxed •••¢ts Tangit4e fixed assets are initialty measured a¢ $tsbsewi mtsaswed at gJ8t or vahJati, net of depr8ean and ary impaimxnt losses. Depwa¢KJn 1$ Tecognised so as to write ¢)ff cosl cff of assets less their residuat values ovw their useful h"¥es on the lc41oynQ bases.. Computer EquisTh 25% line basis The gain or k)s• aring on the th'sF4J8¥ 018n a& is d•termird 8$ the drffererth bew lh• sal8 and th crying Value of th8 assel. antl 1$ recoBni8éd in the st8temeJrt of actNIts"es. 1.7 Impalrmnt of tlx•d a¥wi• At each reporting end dale. t trust th? #MolS of its nl 8$8ets to dettrnine whelher there is any Indicabcm that Ihose a88el8 have wffered en impairment loss. 118ny 8uth indicthn exi51s. the re¥ale amount of the asw is esbmaled order to determine the extent of Ihe smpaMeni k)ss (rf any). 1.8 ¢a8h Al c••h equlv•lent• Cash 8nd cash eqvNaKents indudg ca8h In hand, Oepxits held at call wth banki. st.ten IN4wd investments wrth origo)al matunties of three mLM)ths or and bank obrfrafts. 8ank ov•rdr•ft8 art sl#)wn wthin t¢)tywngs in Current lialytthes. 1.9 FInal¥l in•truments The tTUSt has elected to appty the prwsiorra of 11 '8a$e Finnaal Instruments. and Section 12'0th•r Finar1 Instrumants188u•$' ol FRS 102 to 01 of finana81 in8twiiit$. Finanoal instrumtnts a rtcogniseo in the trusfs ban shW Vknen Ihe tru>t b•S party to the ci•nlraclual prOS1On$ of the instrumwil. Fnancial assets and h"abthitie3 ?r¢ offset, vmh thè net Ounts wesented in the statwnent8, % there is a g#SIY enlorrxable right to sei t)fi the recogrised amunts 8TrJ Iher• is an wrtenllcffi to Se on a net basts cf to realists the as8et arml settkn the ligbthty wiu#aneoug1y. 8•slc fin•n¢lal 4ss•t5 Bastc fInala1 assets. dtsde d#Llcn and •h bwlt below, are Nthlly mea$wed at Iransaction pncg Thjuding tran8#th¢ costs 8Th1 are subsequenty carrd at Orbsd ujst.
FARR NORTH COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ountlng pollel IContInu) 8osl¢ Iln•ncl•l Il•blllti•s Basic finanual liabilrttes. indudiryd Credit bar loans are initialty rewnwl at tranwtion price unless thè arrangement o)nsb'tules a finanang transaction. Ihe dèbt instrument is meaSUd al the prt value ol th• fubjre payments discwnled at 8 market rale of inte$t. Financ4al Ik?blit$ ¢la8srfed as paYae thin one ye¥ are not arrKsrtised. Debt inBtrumntJ We subse(p• carried at aftlsed co6( usr¥J the effectw wrterest rate method. Trade creditors ar? obligabons to pay for g1x5 See8 that have been acquid in the ordtnary ru(Se of operation5 from suppliers. Amoun1¥ payable are daSfied a$ ojffent IIAbilrties rf payrnent is due wlhin cne year or less. If nol, they are presented as nOn-rrent knat¥"lth"es. Trade ertOrs a recwnised initialy at transaLIon Fce and subsew• ffleasur•d at w)08ed cost uwng Ih? offaL inierost mèthod. D•¢09n1¢1Qn olllrnnclal Il•bllltl Finanoal Ikqbdrt are ¢Jere(4rrised ¥then trurfs Contra c4¥JatK)ns expwe cy •r• disth8rged or e4ncelled 1.10 Employ The o)st of any unused hdiday enlthment ffj recrylsed in the period in whith the p10Yee'S s¢r¥ices are reNed. Terninatiors beneffts are recognised Inediate as an exFnsè fien the lrnst is demon8trabty cornmitted to tèmiinale the employment of an omployee orto prwde tminai¥)n benefils. Crltlc•l •ccountSNJ estlmate• and Judymènts In the applic8tion of Ihe trusfs account policies. the tru81ee8 8re reqtmred to make judutments. e$tim8te$ and assumptions about the carrytng arnoufti ol awts and bab"ith'es thai a not 3llY appanI frDrn Other Sour$. The e8timgtes and assoc4ated a$SptIOnS are based on his1¢81 experie and other ladors Ihat are cOnSered to b8 relevant. Actual results may thffer frorn Ihesè estirnale$. The ests"male$ and und&13 assumtrti¢Yb3 are reviewed cffj an ongt*w basis. Revi¥1$ to accounting estimates are reco3nised in the pen.od In which the estimate is ¥tsed vknere the ¥¢9100 afferAs only that pénod. or in the w.od of Ihe rewsw and frJtur¢ peiiod• where the revision allects both oJrTent and ILrture periods. 10-
Ill Iiiiiliil'l IU•X LU¥TLLU
FARR NORTH COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Incom• from ch•rlt•ble cti¥ltJe• Unrutrict•d Unmtrfctod fund• lund• 2025 2024 chabI a¢Uvlll•• Meal ¢JelNeries Other Income frcm ch¥rtth adivibes 3,485 1,695 1,814 5.180 1.814 Expendlture on ¢harii•bl• activld Charitsbl• •cflvMles 202S Ch•rltable ctlvltie# 2024 Oirnet CO8ts Depreoation and Palm)ent Other overheads 449 111.033 739 42.400 111.482 43.139 An•ly•i by fvnd Uniestricted fund$ R¢slriLaed fvnds 449 111,033 739 42,4 111.462 43,139 Net mov•mont In fund• 202S 2024 The net movenI in lunds stated after tharyiWluedth"ngl'. Fees payable fof the dedl ex8mmbw ofthe tharitls fThngal sta¢ements Dtrprecaation of uwned tangiblé fixed assets 2,148 739 449 Tru•te NonÈ tsf the trustees {or any wilh Ihem) recevrnl any remunwalion or b¢nefits frorn the trusi during the ye&r 12-
FARR NORTH COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2025 Employ•e• The averag¢ nbe1 olwploye88 dwirg Ihe yearwas: 2025 Numb•r 2024 Numb•r Tot81 There wwe no ernkkny knthose retrl was ffre than £eo.wi. Tix•¥on The chatty 1$ exerw from tsxati(yi on rts AdriitE8 beUle 011 rt¥ inC•Jme ts apled for carit8ble purposes. 10 Tanglbl• Ilx•d wt• 41• ¢t At I Septemtjer 2024 2,956 Al 31 Auguat 2025 2,956 Doprn¢l•tlon •nd I1rmont At 1 Septernbv 2024 Dgpreuation charged In the y 2,507 449 Al 31 Augu 202S Carrying amount At 37 August 2024 449 11 D•btor• 2025 3024 Amounts f•lllng thln +)n• y••r. or debtors Prepayments and ac(•Jed incc*ne 37,961 37.961 Chh•r dèb18 indud¢ grarts recembts Wlng £NÈl12024.' £37.961). 12 Cr•ditor•: •mourts falllng ¥thlthln one yr 2025 2024 Acc•Jals and dtsferred inco 4,624 13-
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FARR NORTH COMMUNITY DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 14 Anly•l8 of net aM•t• b•tw••n fix Unre•trfct•d R•trtet•d fund• fvndj 2025 2025 Total 2025 At 31 AUgt 2025: Cuent asset(1181I$) 18.458 130.412 148.870 18.458 1x1,412 148,870 Unmtrlthd R•stricted fund• funds 2024 2024 Total 2024 At 31 Augu•t 2024: Tangib assets Current assetTJltiatilibesl 449 11.738 449 95,052 $3,314 12.187 83,314 9S,501 15 Unrn•tr5et•d lun The tmrèstrided lund$ of the dianty comprise the rexFded balanL5 old0nans and graThts a not subj'ecl to $pettfie condrticns by doncrfs grant0 as lo how they may be used. These irK4ude designated lunds thich hav• been set aside o(rt of uffeStrK fvrNJs by Ihe tnJstees lor SFJecifi¢ purpose8. Incomlw R•WUr ourc•• •xp•nd•d Trnn8f•r• At 31 Aug1 2025 S•pt•mb•r 2024 General knds 12,187 6.923 14491 12031 18.458 12,187 6.923 14491 12031 18,458 Pr•¥bous y•ar. Atl Incomlng R001 Trnn•f•r• At 31 Augu¥t 2024 2023 GerMI fiJnds 11.015 1.911 17391 12,187 16 Rothtod p•rty tramacito There were no dis()saY¢ reloied paty transaebon$ durlng Ihe year. 16-