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← Cnoc Soilleir Limited

2025-07-31-accounts

REGISTERED COMPANY NUMBER: SC635033 (Scotland) REGISTERED CHARITY NUMBER: SC051429

Report of the Trustees and

Financial Statements for the Year Ended 31 July 2025

for

CNOC SOILLEIR LIMITED

Mann Judd Gordon Ltd Chartered Accountants & Statutory Auditors 26 Lewis Street Stornoway Isle of Lewis HS1 2JF

CNOC SOILLEIR LIMITED

Contents of the Financial Statements for the Year Ended 31 July 2025

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 10
Statement of Financial Activities 11
Statement of Financial Position 12
Statement of Cash Flows 13
Notes to the Statement of Cash Flows 14
Notes to the Financial Statements 15 to 22
Detailed Statement of Financial Activities 23 to 24

CNOC SOILLEIR LIMITED

Report of the Trustees for the Year Ended 31 July 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 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 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Cnoc Soilleir Ltd is the joint venture organisation and partnership formed between Ceòlas Uibhist and UHI North, West and Hebrides to take forward the development and operation of the Cnoc Soilleir building and facility in Daliburgh, South Uist.

Cnoc Soilleir will support the delivery and growth of Ceòlas' community led activity in Gaelic learning, music and dance, and the educational and learning opportunities provided by UHI North, West and Hebrides and provide an iconic and modern facility with Gaelic at its heart at the centre of the South Uist community.

The Board of Cnoc Soilleir Ltd consists of two members each from the Board of each of the partner organisations, and an independent director. The Board is responsible for the leadership and governance of Cnoc Soilleir, and to ensure the full vision and ambition for Cnoc Soilleir is realised, and a sustainable operating model is in place to maximise the potential of Cnoc Soilleir for the two partner organisations and the wider community and stakeholders of Uist.

Cnoc Soilleir is designed to support the growth of Ceòlas' community-led activity around Gaelic language learning, music and dance, including the highly acclaimed Summer School, Winter Festival, Song Conference and Symposium. It is also designed to provide a high-quality teaching and learning environment for UHI North, West and Hebrides, with Archaeology and the HNC Music degree and short course delivery now operating from the building.

Cnoc Soilleir Limited is committed to playing its part in the Fair Work Convention's vision that by 2025, people in Scotland will have a world-leading working life where fair work drives success, wellbeing and prosperity for individuals, businesses, organisations and society. We are therefore developing a workplace that is built on the five key dimensions of Fair Work: effective voice, opportunity, security, fulfilment and respect. Cnoc Soilleir Limited has been accredited as a Living Wage Employer by the Living Wage Foundation

There is the opportunity for the local community to access wider online course provision from across UHI, and for UHI Uist based students to use Cnoc Soilleir as a base from which to learn, research and engage, helping to embed tertiary education within the community of Uist and deliver the UHI ethos of the college in the community.

The charitable company shall operate for public benefit to:

Page 1

CNOC SOILLEIR LIMITED

Report of the Trustees for the Year Ended 31 July 2025

STRATEGIC REPORT Achievements and performance Charitable activities KEY ACTIVITIES AND ACHIEVEMENTS FOR THE YEAR AUGUST 2024- JULY 2025

This has been the third full year of operation for Cnoc Soilleir since taking occupation from the main contractors in May 2022, and a formal opening event in September 2022.

At the start of the year on 1st August 2023 UHI North, West and Hebrides was vested as a new merged college incorporating the former colleges of UHI Outer Hebrides, West Highland, and North Highland. During this time, they have undergone strategic and curriculum review to set themselves up for future activities, growth and development. Ceòlas have continued their activities including Gaelic language teaching, their flagship summer school, other events and Rèidio Cheòlais.

As well as supporting UHI North, West and Hebrides and Ceòlas, Cnoc Soilleir staff have hosted a number of key events including Book Launch about Orasaigh in collaboration with Taigh Chearsabhagh; Comhairle nan Eilean Siar Preschool event; Wedding Day Drinks Reception; First Responders Training; VisitScotland Tourism conference; Involve Foundation Public Participation event; Flora MacDonald Piping competition and recital; Audio recording with local authors for publishing house; winter and spring classes for Fèis Tir a'Mhurain; twice weekly termtime classes for Mairi MacLean School of Dance, Filming by Corcadal Productions, Macanta Media and Muckle Media.

The Wednesday Lunchtime Cidsin Ceilidh's attendance has grown substantially since its inception and now include a regular audience of 45-60 people from a core number of over 100 regulars; with performance by staff from across the building; visitors, and local regulars. With a small amount of funding from UCVO Warm Hub, and generous donations from those attending the sessions, we offer sandwiches, cake and biscuits alongside hot drinks as part of the event.

Cnoc Soilleir Values

Four core value sets were repeatedly raised and demonstrated through the Business Planning process in the run up to opening which capture the values that continue to drive the success of Cnoc Soilleir over the coming years:

Cnoc Soilleir Performance Year 2 - 2024/25

Approval for funding for Phase 2 Capital Project was confirmed in August 2024 and after the required tendering process, MacInnes Bros Ltd were awarded the contract. They started on site in October 2024 with a projected finish date of Spring 2026.

Ceòlas and UHI North, West and Hebrides staff have been key to Cnoc Soilleir's success, fostering collaboration and innovation. A fine example of this is the appointment of a 3 year funded PhD Research Student based in Cnoc Soilleir, in partnership with UHI Centre for History, UHI North, West and Hebrides and Ceòlas.

Building operations run smoothly under a part-time Facilities and Operations Manager, supported by cleaning and janitorial staff. There are clear protocols for third party and wider community use, which also generate extra income for the operating costs, whilst giving users of the facilities a positive experience. The Joint Operations Team coordinates activities via a shared calendar and weekly meetings.

The Phase One building has provided Ceòlas with its own home - purpose built for the learning and promotion of Gaelic language, and associated arts and heritage Ceòlas has secured multi-year funding from both Creative Scotland and Bòrd na Gàidhlig which has allowed them to extend their staff team led by an Interim Operational Manager, alongside the part-time roles of Artistic Director and Social Media Officer, and the appointment of a full-time Creative Director.

The UHI North, West and Hebrides Archaeology team based in Cnoc Soilleir were successful in securing funding of £616,230 to extend their current Uist Unearthed project to cover both Barra and Harris. This will allow them to retain 2 existing members of staff and offer a new 2 year post based in Cnoc Soilleir.

Page 2

CNOC SOILLEIR LIMITED

Report of the Trustees for the Year Ended 31 July 2025

STRATEGIC REPORT Financial review Financial position

Capital Funding and Finance

During this year we have continued to work with our stakeholders over Phase 2 and the capital funding was fully secured by August 2024.

The main contract for Phase 2 construction was tendered through the Public Contracts Scotland online process during the summer of 2024. There was only one valid tender bid on the closing date of 10 May, with a local contractor, with a 90-day period for holding the price. This was later extended until 3rd September 2024. Phase 2 construction started on site in October 2024 with completion due in Spring 2026.

Reserves policy

The trustees have agreed a formal reserves policy of 3 months operating expenses.

Page 3

CNOC SOILLEIR LIMITED

Report of the Trustees for the Year Ended 31 July 2025

STRATEGIC REPORT

Future plans

The successful operation to date has built a solid platform for growth and the following paragraphs set out an updated and Shared Vision and commitment from the Joint Venture partners for Cnoc Soilleir:

UHI North, West and Hebrides and Ceòlas share a commitment to the preservation, curation, development and dissemination of the Gaelic language, arts and culture, and of the unique attributes of the archaeology, landscape and environment of Uist. Together the partners will ensure that Uist and particularly Cnoc Soilleir will:

These plans will support the Uist Repopulation ambitions of the Scottish Government and of Comhairle nan Eilean Siar, ensuring that Uist grows its reputation as a unique place to live and work and providing jobs to attract inward migration. The plans will promote Gaelic to those living in, returning or moving to the area and will empower third sector organisations and the network of Gaelic officers to action a Uist Gaelic Language Plan for the area which supports existing residents and new arrivals.

The community as key participants will gain confidence and pride in their language, culture and heritage, celebrating its music, song, and dance. The community will benefit both directly and indirectly from the increased economic activity and have access to wider lifelong learning through links to UHI.

UHI North, West and Hebrides and Ceòlas will work together to develop activities based in Uist which will deliver this commitment.

These activities will include:

Page 4

CNOC SOILLEIR LIMITED

Report of the Trustees for the Year Ended 31 July 2025

STRATEGIC REPORT

These activities will enable and encourage direct participation by members of the community, as guardians and performers of Uist tradition, as learners, as providers of learning, informally and formally. The planned activities will take advantage of the facilities already developed at Cnoc Soilleir and its future expansion and will also support other facilities such as the accommodation already established on Uist.

Cnoc Soilleir Phase 2

The construction of Phase 2 started on site in October 2024, with completion and handover in the Spring of 2026.

The Phase Two building has always been seen as critical to achieving the transformational and shared vision for Cnoc Soilleir. At a practical level, full planning permission for the whole Cnoc Soilleir capital project including both phases was achieved in 2018, and full building warrant approval for both phases has been in place since 2020.

The Phase Two building, built to Passivhaus standards, will provide:

During the last year there has been a focus on developing activities and events that can make best use of the future facilities that will be delivered as part of Phase 2. As well as building on the existing activities and events that already take place in the competed Phase 1.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

A risk register is maintained and updated quarterly by the Joint Operations team.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

SC635033 (Scotland)

Registered Charity number

SC051429

Registered office

Cnoc Soilleir Daliburgh Isle of South Uist HS8 5SS

Trustees

A O'Henley N J Macpherson M E M Foxley I MacInnes R C Marshall

Page 5

CNOC SOILLEIR LIMITED

Report of the Trustees for the Year Ended 31 July 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Mann Judd Gordon Ltd Chartered Accountants & Statutory Auditors 26 Lewis Street Stornoway Isle of Lewis HS1 2JF

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Cnoc Soilleir Limited for the purposes of company law) 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Mann Judd Gordon Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 8 April 2026 and signed on the board's behalf by:

N J Macpherson - Trustee

Page 6

Report of the Independent Auditors to the Trustees and Members of Cnoc Soilleir Limited

Opinion

We have audited the financial statements of Cnoc Soilleir Limited (the 'charitable company') for the year ended 31 July 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial 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 performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company'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 information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements 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 determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 7

Report of the Independent Auditors to the Trustees and Members of Cnoc Soilleir Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 8

Report of the Independent Auditors to the Trustees and Members of Cnoc Soilleir Limited

Our responsibilities for the audit of the financial statements

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 aggregate, they could reasonably be expected to 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:

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to employment matters and those relating directly the preparation of the financial statements, that is FRS102, Charities SORP and the Companies Act 2006. The charity are also subject to data protection laws (GDPR). We assessed the risks of material misstatement in respect of fraud as follows:

As part of our audit team discussion, we identified if any particular area was more susceptible to misstatement. A list of the known related parties was compiled along with an expectation of transactions between them. We then made fraud enquires of those charged with governance and confirmed our related party list.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. We corroborated our enquiries of those charged with governance by a review of the board minutes to date, a review of the bank statements to date, a review of the service organisation's payroll files for the year and a review of legal fees charged in the year for any evidence of legal or regulatory issues. Our considerations at planning were corroborated and no further legal or regulatory issues were noted.

We considered the risk of fraud through management override. Given the size of the entity, no accounting software is used by the client, and so testing of journals for example was considered unnecessary. Instead, a review of the year of bank statements was undertaken, to identify any large or unusual transactions. No transactions outside the normal course of business were identified.

Given the size of the entity, segregation of duties is limited, so we designed our audit procedures to identify and to address any material misstatements arising from this. Appropriate approval controls were found to be in place.

The engagement partner's assessment of whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations concluded that the overall risk was of fraud and misstatement was low and the experience of the audit team assigned was sufficient and no specialists were required. An appropriate level of materiality has been calculated in consideration of the inherent difficulty in detecting irregularities along with the perceived level of risk.

There are inherent limitations in the audit procedures described above that result in an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with International Standards on Auditing (UK). The further removed non-compliance with laws and regulations is from the events and financial transactions in the financial statements, the less likely the auditor is to become aware of it or recognise non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment through forgery, collusion, omission or misrepresentation. The primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 9

Report of the Independent Auditors to the Trustees and Members of Cnoc Soilleir Limited

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and the trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Cumming CA (Senior Statutory Auditor) for and on behalf of Mann Judd Gordon Ltd Chartered Accountants & Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 26 Lewis Street Stornoway Isle of Lewis HS1 2JF

27 April 2026

Page 10

CNOC SOILLEIR LIMITED

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 July 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Charitable activities
Investment income
3
Total
EXPENDITURE ON
Charitable activities
5
Charitable activities
Governance
Depreciation
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
5,820
93,000
7,042
105,862
99,011
5,633
405
105,049
813
58,991
59,804		 Restricted
funds
£
1,417,136
-
-
1,417,136
50,012
-
93,568
143,580
1,273,556
9,340,862
10,614,418		 31.7.25
Total
funds
£
1,422,956
93,000
7,042
1,522,998
149,023
5,633
93,973
248,629
1,274,369
9,399,853
10,674,222		 31.7.24
Total
funds
£
137,674
79,848
4,795
222,317
145,990
3,954
93,290
243,234
(20,917)
9,420,770
9,399,853

The notes form part of these financial statements

Page 11

CNOC SOILLEIR LIMITED

Statement of Financial Position 31 July 2025

31.7.25 31.7.24
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 11 5,373 8,430,471 8,435,844 6,401,542
CURRENT ASSETS
Debtors 12 663 13,503 14,166 5,509
Cash at bank 64,160 2,170,444 2,234,604 2,998,305
CREDITORS 64,823 2,183,947 2,248,770 3,003,814
Amounts falling due within one year 13 (10,392) - (10,392) (5,503)
NET CURRENT ASSETS 54,431 2,183,947 2,238,378 2,998,311
TOTAL ASSETS LESS CURRENT
LIABILITIES 59,804 10,614,418 10,674,222 9,399,853
NET ASSETS 59,804 10,614,418 10,674,222 9,399,853
FUNDS 14
Unrestricted funds 59,804 58,991
Restricted funds 10,614,418 9,340,862
TOTAL FUNDS 10,674,222 9,399,853

The financial statements were approved by the Board of Trustees and authorised for issue on 8 April 2026 and were signed on its behalf by:

==> picture [89 x 14] intentionally omitted <==

----- Start of picture text -----
A O'Henley - Trustee
A O'Henley - Trustee
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The notes form part of these financial statements

Page 12

CNOC SOILLEIR LIMITED

Statement of Cash Flows for the Year Ended 31 July 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.7.25
£
1,364,575
1,364,575
(2,128,276)
(2,128,276)
(763,701)
2,998,305
2,234,604		 31.7.24
£
(90,675)
(90,675)
(19,431)
(19,431)
(110,106)
3,108,411
2,998,305

The notes form part of these financial statements

Page 13

CNOC SOILLEIR LIMITED

Notes to the Statement of Cash Flows for the Year Ended 31 July 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Increase in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operations		 31.7.25
£
1,274,369
93,973
(8,656)
4,889
1,364,575		 31.7.24
£
(20,917)
93,290
(4,627)
(158,421)
(90,675)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Total		 At 1.8.24
£
2,998,305
2,998,305
2,998,305		 Cash flow
£
(763,701)
(763,701)
(763,701)		 At 31.7.25
£
2,234,604
2,234,604
2,234,604

The notes form part of these financial statements

Page 14

CNOC SOILLEIR LIMITED

Notes to the Financial Statements for the Year Ended 31 July 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.

The presentation currency of the accounts is Pound sterling (£). The accounts are rounded to the nearest £1.

Going Concern

The Charity is a going concern and there are no material uncertainties casting significant doubt over its ability to continue as a going concern.

Critical accounting judgements and key sources of estimation uncertainty

Fixed asset net book value and depreciation charges are the areas of the accounts which are affected by significant judgements and estimates. The directors exercise judgement in determining both the useful economic life and the likely residual value of the charity's assets. This judgement affects the rates of and charge for depreciation and therefore affects the net book value of the assets in the balance sheet.

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.

Income from government and other grants, whether capital grants or revenue grants, is recognised when the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. In accordance with Section 5.27 of the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice, where funding is received in advance of the expenditure being incurred, the income is not deferred due to this. In addition, where funding is received for capital projects, the income is recognised in the Statement of Financial Activities and not deferred over the life of the asset.

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.

Long leasehold - 1% on cost Fixtures and fittings - 20% depreciation on cost

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued...

Page 15

CNOC SOILLEIR LIMITED

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

1. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors and creditors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2. DONATIONS AND LEGACIES

Donations
Grants
Grants received, included in the above, are as follows:
Highlands and Islands Enterprises
Bord na Gaidhlig
Comhairle nan Eilean Siar - RCGF
UCVO
INVESTMENT INCOME
Rents received		 31.7.25
£
5,049
1,417,907
1,422,956
31.7.25
£
561,532
22,927
832,678
770
1,417,907
31.7.25
£
7,042		 31.7.24
£
74
137,600
137,674
31.7.24
£
44,544
6,000
86,316
740
137,600
31.7.24
£
4,795

3. INVESTMENT INCOME

continued...

Page 16

CNOC SOILLEIR LIMITED

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

4. INCOME FROM CHARITABLE ACTIVITIES

Activity
Management fee
Charitable activities
5.
CHARITABLE ACTIVITIES COSTS
Charitable activities
Governance
Depreciation
6.
SUPPORT COSTS
Charitable activities
Governance
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Auditors' remuneration for non audit work
Depreciation - owned assets		 31.7.25
£
93,000
Support
Direct
costs (see
Costs
note 6)
£
£
144,573
4,450
-
5,633
93,973
-
238,546
10,083
Governance
Finance
costs
£
£
302
4,148
-
5,633
302
9,781
31.7.25
£
5,700
2,059
93,974		 31.7.24
£		 31.7.24
£
79,848
Totals
£
149,023
5,633
93,973
248,629
Totals
£
4,450
5,633
10,083
31.7.24
£
4,200
1,954
93,289

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.

continued...

Page 17

CNOC SOILLEIR LIMITED

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

9. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
All staff
No employees received emoluments in excess of £60,000.
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
28,818
Charitable activities
Charitable activities
79,848
Investment income
4,795
Total
113,461
EXPENDITURE ON
Charitable activities
Charitable activities
107,768
Governance
3,264
Depreciation
-
Total
111,032
NET INCOME/(EXPENDITURE)
2,429
RECONCILIATION OF FUNDS
Total funds brought forward
56,562
TOTAL FUNDS CARRIED FORWARD
58,991		 31.7.25
£
70,113
1,196
71,309
31.7.25
4

Restricted
funds
£
108,856
-
-
108,856
38,222
690
93,290
132,202
(23,346)
9,364,208
9,340,862		 31.7.24
£
70,828
990
71,818
31.7.24
4
Total
funds
£
137,674
79,848
4,795
222,317
145,990
3,954
93,290
243,234
(20,917)
9,420,770
9,399,853

continued...

Page 18

CNOC SOILLEIR LIMITED

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

11. TANGIBLE FIXED ASSETS

Long
leasehold
£
COST
At 1 August 2024
6,444,630
Additions
2,118,236
At 31 July 2025
8,562,866
DEPRECIATION
At 1 August 2024
128,959
Charge for year
65,106
At 31 July 2025
194,065
NET BOOK VALUE
At 31 July 2025
8,368,801
At 31 July 2024
6,315,671
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Pension
Accrued expenses
14.
MOVEMENT IN FUNDS
At 1.8.24
£
Unrestricted funds
General fund
58,991
Restricted funds
Restricted Capital Fund
6,405,372
Restricted Capital Fund - Phase 2
2,935,490
9,340,862
TOTAL FUNDS
9,399,853		 Long
leasehold
£
6,444,630
2,118,236
8,562,866
128,959
65,106
194,065
8,368,801		 Fixtures
and
fittings
£
142,311
10,040
152,351
56,440
28,868
85,308
67,043		 Totals
£
6,586,941
2,128,276
8,715,217
185,399
93,974
279,373
8,435,844		 Totals
£
6,586,941
2,128,276
8,715,217
185,399
93,974
279,373
8,435,844
6,315,671 85,871 6,401,542
31.7.25
£
663
13,503
14,166
31.7.25
£
8
884
490
9,010
10,392
Net
movement
in funds
£
813
(93,569)
1,367,125
1,273,556
1,274,369
31.7.24
£
-
5,509
5,509
31.7.24
£
21
840
442
4,200
5,503
At
31.7.25
£
59,804
6,311,803
4,302,615
10,614,418
10,674,222

continued...

Page 19

CNOC SOILLEIR LIMITED

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted Capital Fund
Restricted Capital Fund - Phase 2
Restricted Revenue Fund
TOTAL FUNDS		 Incoming
resources
£
105,862
(1)
1,394,210
22,927
1,417,136
1,522,998		 Resources
expended
£
(105,049)
(93,568)
(27,085)
(22,927)
(143,580)
(248,629)		 Movement
in funds
£
813
(93,569)
1,367,125
-
1,273,556
1,274,369

Comparatives for movement in funds

Unrestricted funds
General fund
Designated fund - admin post
Restricted funds
Restricted Capital Fund
Restricted Capital Fund - Phase 2
TOTAL FUNDS
Comparative net movement in funds, included in the above are as
Unrestricted funds
General fund
Designated fund - admin post
Restricted funds
Restricted Capital Fund
Restricted Capital Fund - Phase 2
TOTAL FUNDS		 At 1.8.23
£
41,177
15,385
56,562
6,389,837
2,974,371
9,364,208
9,420,770
follows:
Incoming
resources
£
113,461
-
113,461
108,856
-
108,856
222,317		 Net
movement
in funds
£
17,814
(15,385)
2,429
15,535
(38,881)
(23,346)
(20,917)
Resources
expended
£
(95,647)
(15,385)
(111,032)
(93,321)
(38,881)
(132,202)
(243,234)		 At
31.7.24
£
58,991
-
58,991
6,405,372
2,935,490
9,340,862
9,399,853
Movement
in funds
£
17,814
(15,385)
2,429
15,535
(38,881)
(23,346)
(20,917)

continued...

Page 20

CNOC SOILLEIR LIMITED

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated fund - admin post
Restricted funds
Restricted Capital Fund
Restricted Capital Fund - Phase 2
TOTAL FUNDS		 At 1.8.23
£
41,177
15,385
56,562
6,389,837
2,974,371
9,364,208
9,420,770		 Net
movement
in funds
£
18,627
(15,385)
3,242
(78,034)
1,328,244
1,250,210
1,253,452		 At
31.7.25
£
59,804
-
59,804
6,311,803
4,302,615
10,614,418
10,674,222

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fund - admin post
Restricted funds
Restricted Capital Fund
Restricted Capital Fund - Phase 2
Restricted Revenue Fund
TOTAL FUNDS
15.
CAPITAL COMMITMENTS
Contracted but not provided for in the financial statements		 Incoming
resources
£
219,323
-
219,323
108,855
1,394,210
22,927
1,525,992
1,745,315		 Resources
expended
£
(200,696)
(15,385)
(216,081)
(186,889)
(65,966)
(22,927)
(275,782)
(491,863)
31.7.25
£
185,425		 Movement
in funds
£
18,627
(15,385)
3,242
(78,034)
1,328,244
-
1,250,210
1,253,452		 Movement
in funds
£
18,627
(15,385)
3,242
(78,034)
1,328,244
-
1,250,210
1,253,452
31.7.24
£
-

continued...

Page 21

CNOC SOILLEIR LIMITED

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

16. RELATED PARTY DISCLOSURES

During the year, Cnoc Soilleir received received £43,000 in contributions to the joint venture (2024: £32,879) from Ceolas Uibhist Limited, a person of significant control.

During the year, Cnoc Soilleir received £50,000 in contributions to the joint venture (2024: £46,989) from UHI, a person of significant control.

There were no transactions with trustees in the year (2024: £Nil).

Page 22

CNOC SOILLEIR LIMITED

Detailed Statement of Financial Activities for the Year Ended 31 July 2025

Unrestricted
funds
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
5,050
Grants
770
5,820
Investment income
Rents received
7,042
Charitable activities
Management fee
93,000
Total incoming resources
105,862
EXPENDITURE
Charitable activities
Wages
22,076
Pensions
151
Rates and water
3,348
Insurance
8,262
Light and heat
24,065
Telephone
8,454
Postage and stationery
1,887
Sundries
651
Travel
-
Computer costs
867
Licences and subscriptions
-
Repairs and maintenance
10,671
Training
2,105
Event costs
4,943
Advertising
7,561
Depreciation - long leasehold
-
Depreciation - fixtures & fitt ings
405
95,446
Support costs
Finance
Bank charges
302
Governance costs
Auditors' remuneration
5,700
Auditors' remuneration for non audit work
1,579
Carried forward
7,279		 Restricted
funds
£
(1)
1,417,137
1,417,136
-
-
1,417,136
48,037
1,045
-
-
-
-
-
-
-
-
-
-
-
-
450
65,106
28,462
143,100
-
-
480
480		 31.7.25
Total
funds
£
5,049
1,417,907
1,422,956
7,042
93,000
1,522,998
70,113
1,196
3,348
8,262
24,065
8,454
1,887
651
-
867
-
10,671
2,105
4,943
8,011
65,106
28,867
238,546
302
5,700
2,059
7,759		 31.7.24
Total
funds
£
74
137,600
137,674
4,795
79,848
222,317
70,828
990
3,717
6,887
17,421
7,544
1,854
622
452
3,155
153
13,536
263
1,238
-
64,953
28,337
221,950
371
4,200
1,954
6,154

This page does not form part of the statutory financial statements

Page 23

CNOC SOILLEIR LIMITED

Detailed Statement of Financial Activities for the Year Ended 31 July 2025

Unrestricted
funds
£
Governance costs
Brought forward
7,279
Legal fees
2,022
9,301
Total resources expended
105,049
Net (expenditure)/income
813		 Restricted
funds
£
480
-
480
143,580
1,273,556		 31.7.25
Total
funds
£
7,759
2,022
9,781
248,629
1,274,369		 31.7.24
Total
funds
£
6,154
14,759
20,913
243,234
(20,917)

This page does not form part of the statutory financial statements

Page 24