CHARrrY REGISTRATION NUMBER." SCO52464 Solar Tiree SCIO Unaudited Financial Statements 31 October 2024 TERED A NT Chartered accountants 5 Argyll Square Oban Argyll PA34 4AZ Solar Tiree SCIO Financial Slatements Year ended 31 October 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financi2J statements The following pages do not form part of the flnanclal stalemenls Detailed statement of financial activities 14 Notes to the detailed statement of financial activities 15 Solar Tiree SCIO Trustees. Annual Report Year ended 31 October 2024 The Iwstses preserrt their rep)rt and the unaudited ￿ar￿la1 statements ol the chaAty for the wr ended 31 October 2024. R•feronce and admini8lralive detai15 Rég181ered charity name Solar Tiree SCIO Charity regislratlon number SC0524164 Prlnclpal offl¢• Sliabh B￿eph￿l1 Isle 01 Tiree PA77 6UE Tho tru8te Independent examlnor l R A Clemenl Asswales C.A. uare Oban PA34 4AZ Structure. gov8mv4n¢e and rnanagement The charity was con$iiluted as a S¢onish Charitable Incory)oraled OrganisatK)n ISCIOI on 11 April 2023 and is goveTned by its wrltten con$tilutv)n. Solar Tiree SCIO Trustees, Annual Report (conli￿) Year ended 31 October 2024 Obfrctlve8 and a¢tlvlttos The organisalion's purposes are lo ¢arry on aclNilies which benefit the community and in particular wf(houl limitation, the prevention or the relief ol p)verty lor those living on the islarKI of Tiree. This will be achieved by inter ￿la= lal setting up a contact point to ajlow islanders setf-idenlifyirrfj as experiencing povety lo contact our volunteers conlidenlially Ibl provKling signposting to other organisations that can help clients tackle the root causes of food, fuel and other forms of poverty Icl providing emergency vouchers for the shops on the island for our clients Idl supptying our clients wth food from local retailers whr¢h ¥￿VId othetwse designated for landfill lel maintaining a supply ol emergency food in a central communrty store on the islarKI that can be a¢¢essed confidentially by clients (Q working alongside like-minded charities on Tiree who have similar aims and objectives Achlevements and perlorniance Solar Tiree SCIO Continues lo support the firee community. We have in¢rea5ed OUT pool ol volunteers lo provide resilience to our delivered supwrt and filling the cornmuntty cupboard. No expenses were claimed tor this. The communlty cupboard is an ex-phone t)ox in Scarinish. which has been loaned lo Solar by Tiree Community Council. This is filled weekly from the Coop and donated food. 11 is centrally located and is designed lor emergency and confhdenb'al use. Volunieers also vtsiled up to 18 clients. Numbers have varied during the year with a number ol clients staling their circumstances have changed and wishing to be removed, in some cases just 18mwrarily. As Y4ell as a chat, clients are offered food donated by tho Coop or Coop vouchers depending on circumstances. In addition, Solar rents a food store from Tiree Rurd Development lor its ambient goods and frozen goods in freezers. There is also a Iridge. Solar is the agent lor the Cwas Hardship Fund operated by the Tiree Community Development Trust. Solar has actively applied lor gTant tunding and is in receipt ol a number ol regular donations. The Trustees will continue during the next finan￿at year lo meet our principal objectives by continuing with our existing activities. It is not envisaged that any new initiatives will be intr¢)duced bul rather that all existing actiirities and the needs ot our client base wll be rtrevaiualed on an ongoing basis. Fln8nclal revlew A surplus of £8,45912023: £3.8521 was achieved for the year. Reserve$ It is the Trustees. policy to hold sufficient reserves to support the level ol activity r8quire£l to meet Ihg charities objectives. Solar Tiree SCIO Trustees, Annual Report Year ended 31 Octobar 2024 The Iruslees. annual report was approved on .... trustees by.. and Sign￿ on behalf of ihe board ol Solar Tiree SCIO Independenl Exarninerfs Report to the Trustees ol Solar Tiree SCIO Year ended 31 October 2024 I r9pon 10 Ihg Iru51ees on my examinatlon ol thé ffinan￿￿ stst6rnents of Solar Tir￿ SCIO1lhe (*arrtYI for the year endad 31 Ocloter 2024. Responsibilities and basis of report As the Iruslees ol the c4arily you are responsible for +he preparatlon ol Ihè financlal slalèmènts in accordance wtih the requirements of the Charitie5 and Tru51ee Investment (Scollandl Act 2005 Ilhe '2005 Act? and the Chanties Accounts {Scol￿nd) Regulalions 20C6 las amen￿￿31- You are salisfied that your ¢hariLy is not required by charity law to be audrted and have chosen instead lo lave an indèpendent examination. I reFort in resr*rt of my examination ol Ihe charitys financial siai6menis as ¢arriod und9r Sgclion 4411llcl ol the 2005 Act. In carT￿r0 out my examination I have foll¢vftd the r4uirement$ ot Regulation 11 of the CharIt￿S Accounts Iscollandl Regulations 2006 la5 amended). Independent examiner's slalement Since the charry ha5 prepared ils accounls on an aceruds basis wur examiner must be a rnember of a body listed in Regulalioy 11121 ol the Cha￿tieS Accoun'.s Iscotlandl Regulalions 2006 las amended). I can confirm that l am qualrfied to undertake the examination because l am a registered memlxr of Ihe Association ol Charte,"ed Cerlilied Accountanls wh￿h is one ol the listed tK*Jies. I have completed my examinafion. I confirm thal no matters have come lo my attentlon gmng me cause lo believe that in any material rewct". accounilng rgcords w8re not kept as required by section 4411llal of lh8 2005 Act and Regulation 4 of ChartNes Accounts {scotk[￿} Regul*iorts 20CÉ las amended): or the financial statements do not accord ￿th IFThe reCo￿lS.. or th& financial slalemenls do Tr)t CoM￿Y V•ith the accounting requiremeTrt5 01 Regulation 8 of the Charities Accounts IScJ)tlandl Rewktions 2006 las amended). I have no concerns and have com8 across no 0lheT matteTS in connection wlh the examinaiFon lo whlch attention should be drawn in this report in order to enat4e a prO￿r understanding ot the accoun1s to be reachgd. 5 Argyll Square Oban Argyll PA34 4AZ Solar firee SCIO Slatemenl of Financlal Activities Year ended 31 October 2024 2024 Unrestricted lunds Total lunds Total funds 2023 Not• Income and endowments Donations and legacies Charitable activities Other trading actiwties Total income 16.118 16,118 5,010 150 1.427 1,427 17,545 17.545 5,160 Expendlture Expenditure on raising lurKIs= Costs of raising donations and legacies Expendfture on charitabte activthes To181 expendlture 97 8,989 9.086 97 8,989 9,088 1.308 1,308 Net Income and net movement In funds 8.459 8,459 3,852 Reconciliatlon of funds Total funds brought forward Total funds carrlgd forward 3,852 12,311 3.852 12,311 3,852 The statement of financial activities includes all gains and losses reeognised in the year. All income and expenditure derive from continuing act1W￿eS. The notes on page¥ 7 to 12 tomi part of these fIna￿l81 ststements. Solar Tiree SCIO Statement ol Flnan¢ial Position 31 October 2024 2D24 2023 Current Assets Cash al bank In haTrJ 13,011 5.160 Credltors: amounts lalllng due wllhln on• yoar Net current assets 13 700 1.308 12,311 12.311 3,852 Total assets less current Ilabllltleg Net assets 3.852 12,311 3,852 Fund8 01 the charity Unreslricled funds 12.311 3,852 Total ¢harity funds 14 12,311 statements were atproved by the board ol trustees arKI authorised for Issue on and are sNJned on i￿half ol the tr*)ard ty. The notes ¢)n pag•9 7 to 12 forn part ol Ihèse flrn•ncl•l 8*at•m8rt6. Solar Tiree SCIO Noles to the Financlal Statements Year ended 31 October 2024 Gengral Inforniatlon The charity is a public benefrt entity and a regislered charity in Scotland and is unincorporated. The address ol the principal office is Failte, The Reef, Ciossapol. Tiree. PA77 6UP. Stalèment of compllance These financial slalements have been prepared in compliance wlh FRS 102, 'The Financial Rewrting Standard applicable in the UK and the Republic ol Ireland,, the Statement ol Recommended Practice applicable to charities preparing their accounts in accordance wilh the Finaneial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SOAP IFRS 10211 and the Charities and Truslee Investment (Scotlandl Act 2005 and the Charity Accounts Iscollandl Regul*ions 2006 las amerKled). Accountlng pollcles Basis of preparation The linancial statements have been kyepared on Ihe historical cost basis, as m¢xlified by the revaluation ol certain financial assets and liabilit￿S and investment propertie5 measured al lair value through incom8 or expendI￿re. The financial slalemenls are prepared in sleding, which is the fu￿110na currency ol the entity. Golng concern There are no Materi￿ uncertainties about the charitvs ability to continue. Dlsclosure exemptlons The entity satisfies the criteria ol being a qualifwng entity as defined in FRS 102. Its financial slalements are consolidated into the thnancid slalemenls ol lenier name of group linancial slaternenlsl which can be obtained from lenler delaill. As such. advantage has been taken of the lollomriro disdosure exemptions aThlable under paragraph 1.12 of FRS 102.. lal No cash flow statement has been presented for the company. Ibl Disclosures in respect of financial inslruments have noi been presented. Judgements and key sources of estlmation uncertainty The preparation ol the financial ststemeNs requires managemenl to make judgements, eslimales and assumptions that affect the arnounls reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations ol lulure evènts that aTe believed lo be reasonthe under the crrcumstances. Solar firee SCIO Notes to the Flnancial Statements {conthu8dJ Year ended 31 October 2024 Accountlng policies {eQnllm•d) Fund accounting Unrestricted funds are available for use at the dISc￿lon of the irustees lo lurther any ot the charitys purposes. Designated funds are unrestricted lurKls eamiark&J by the Irusiees for particular lulure project or commitment. Reslricled fijnds are Subjected to restrictions on their expenditure declared by the donor or through the terms ol an appeal, and fall into one ol sutpelasses.. restricted income funds or endowment furKIs. Incomlng resources l incoming resources are included in the slalemenl ol tinaroal activities when enlillemenl has passed lo the charity.. it is probable that the economic beneffts associated wlh the transaction will flow lo the eharTty and the amount can be Teliably measured. The follo￿ring specific policies are aFplied to particular categories ol income: income from donations OT grants is recOgnis￿ when there 15 evidence ol entitlement lo the gift. rec8ipI is probable and its arnount can be measured reliaw. legacy income is recognised when receipi is probable and entFtlement is established. income from donated goods is measured al the lair value ol the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received il the value Can be ￿liablY measuTed. No amounts are induded for the contribufion of general volunteers. incorne Irorn contracts for the supyly of semces is recognised ￿th the delivery ol the eonlracted setvice. This is classtlied as unrestricted funds unless there is a contractual requirement for il lo t* spent on a particular pU￿Ose and retumed rf unspent. in whiGh Case it may be Tegarded as reslricled. Solar Tlree SCIO Notes io the Flnancial Stslemenls (conllnuoLIJ Year ended 31 October 2024 Aceounllng poll¢les fcontlnu•d) Resour￿ expended Expendittjre is iecognised on an accruals basis as a liability is incurred. Ex￿ndItUre includes any VAT which cannot be fulty recovered. and is classrfied urthr headings ol the statement ol financial activities to vthich it relates- expenditu￿ on Taising funds includes the co5t5 of all lundraising aclivilies, 8venls, non- charitable trading activities, and the sale of donated goods. expenditure on ¢haritable actiwknes i[7cl￿S all costs incurred by a charity in undertaking actNilies that further ils charitable aims tor the benefit ol its beneficiaries, induding those support costs and costs relating to the governance ol the charity apportioned lo charitable actiwlies. Other eX￿nditu1e includes ￿1 expeMliture that is neither related lo raising funds for the charty nor part of its expendftur8 on charttable acliwlies. All costs are allocated to expenditure ¢ategories reflecting the us8 ol the resource. Oirect costs attributable lo a single actÉwty are allocated directly to that actimty. Shared costs are apportsoned between the activities they contrrbute lo on a reasonable. justrfiable and consistent basis. Flnonclal Instruments A financial asset or a finanryal liability is r￿ogniSed only when the charity becomes a paty lo the contractual PToMsion5 of the instrument. Basic financial instruments are inrtiJly recognised al the amount receivable or payable includiro any related transaction costs. Current assets and current liabilities are subsequently measured al the cash or other consideration expected to be paKI or received ar￿ not discounted. Debt instruments are subsequ8nlty measured al amortised cost. Where investments in shares are publicty Iraded or their lair value can olherwse be measured reliably, the investment is subsequenuy measured at lair value with changes in lair value recognised in income and expenditure. Al other such investmerbts are subsequently measured al cost less impwrmenl. Other financial instruments, including derivatives. are initially reccxjnised at fair value, unless paymènt for an asset is deferred beyond normal business terms or financed at a rate ol interest that is not a market rate, in which case the asset 15 rneasured al the present value of the future payments discounted al a market rate ol interest lor a sirnilar debt instrument. Other financial instruments are SubseqUe￿IY fneasured al lair value, with any changes recognised in the stalemerrt oi financial aetiv?ties, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised c05t are reviewed lor objective evidence of impairment al the end ol each reporting date. 11 there is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in the statement ol linaneial activities in which the initsal gain was recognised. Solar Tiree SCIO Notes lo the Flnanclal Statements (coniiftuedl Year ended 31 October 2024 Accountlng pollcles (conllnwdj Flnanclal Instrumènt5 leonithu￿) For all equity instruments regardless of signtficance. and other financial assets that are individually significant, these are assessed individualy lor impairment. Other financ1￿ assets are ther assessed individually or grouped on the basis ol simikr ¢Tedit risk characteristics. Any reversals of impairment are recognised immediately, lo the extent that the reversal does not resu￿ in a carrying amount ol the financial asset that exceeds what the carrying amount would have been had the imwrment not previously been recognised. Donations and18gacl85 Unrestrieied Tolal Funds Ut)reslricl8d Total Funds Funds 2024 Funds 2023 Donations Donations 5,368 5,368 5.010 5,010 Grants Windfall furKI Argyll & Bute Coun￿1 2.lJOO 8,750 8,750 16.118 16.118 5.010 5,010 Charitable actlvltles Unreslricled Total Funds Unrestricted Total Funds FuThYs 2024 Funds 2023 Other income from charitable activitses 150 150 other Iradlng ocllvttles Unreslrioted Total Fund8 Unrestricted Total Funds Funds 2024 Funds 2023 Fundraising income 1,427 1,427 Costs of ralslng donallons and legacle8 Unrestricted Totsl Funds Unreslricled Tot￿ Funds Funds 2024 Funds 2023 Costs of raising donalions arKI legaci8S 97 97 10 Solar Tiree SCIO Notes to the Flnanclal Statements Year ended 31 October 2024 Expendlturn on ¢harllable actlvltks by fund typo Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 General activities Support costs 8.229 760 8.229 760 708 600 708 60 8,989 8.989 1,308 1,308 Expendlture on charitable actlvitlfrs by actlvlty type Activrties undertaken directly Support costs Total lunds 2024 Total fund 2023 General actwilies Governance ￿SIS 8.229 760 708 600 760 8,229 760 8,989 1,308 10. Independent examlnallon fees 2024 2023 Fees payable to the independent examiner for-. Independent examinats.on ol the financial statèments 600 11. Staff ¢o$ts The average head count ol employee5 durirMJ the year was Nil12023.. Nil). No employee received employee benefrts of more than £60.000 during ihe year12023'. Nil). 12. Trustee remuneratlon and expenses No remuneration or other benefrts from emthmenl Y￿th Ihe ¢hartty or a related enlily were received by the Iruslees. 13. Creditors: amoutits falllng wRhln on8 year 2024 2023 Accruals and deferred income 700 1,308 Solar Tiree SCIO Noles to the FinanGlal Statements (¢onrfnu￿J Year ended 31 October 2024 14. Analysls of ¢hariiable funds Unrestrfcted funds At Irthme Expenditure 31 Oct 2024 At 1 Nov 2023 General funds 17.545 {9,0861 12,311 At Income Expenditure 31 Oct 2023 Al 1 Nov 2022 Genefal Iufbds 5.160 11.3081 3,852 15. Analysis of net assets bgtween funds Unrestrieted Total Fundg Funds 2024 Current assets Creditors less than 1 year Net assets 13.011 17001 12.311 13,011 17001 12,311 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 5,160 11,3081 3.852 5,160 11.3081 3.852 12 Solar Tiree SCIO Management Information Year ended 31 October 2024 The followlng pages do not fonn part of the fIna￿[al Statements. 13 Solar Tiree SCIO Detalled Statement of Flnancial Aciivllies Year ended 31 October 2024 2024 2023 Income and endowments Donatlons and legacles Donations Windfall fund ATgyll & Bute Council 5,368 2,000 8,750 5,010 16,118 5,010 Charilable actlvltles Other income from charitable actMts8s 150 Other trading actlvltles Fundraising income 1.427 Total Income 17,545 5,160 Expgndlture Costs of raislng donatlons and legacle¥ Purchases 1971 Expendlture on charltable acllvllies Rent Insurance Lega1 and professional lees Other office costs Other cosls DetailedSOFAExpenditureOnCharilableActiwtiesType3H DelailedSOFAExpenditureOnCharilableActiviJesType4H De1ailedSOFAExpendituTeOnCharits￿8ACII￿IIesTYpe5H 11.0801 11471 {7601 13221 16791 12651 11.0761 14.6601 18.9891 15401 16001 11681 11,3Q181 Total expendllure 19,0861 11,3081 Net Income 8,459 3,852 14 Solar firee SCIO Notes lo the Detalled Slalement of Flnanclal Actlvllies Year ended 31 October 2024 21Y24 2023 Cosls of ralslng donatlons and legacle8 Costs ol ralslng donatlons and legacles Purchases {971 Costs Of ralsing donations and legjcies 19n Expendlture on charltable actlvltl8S General acllvltles Actlvltles undertaken dlrnctly Rent Insurance Website Costs Ohter cosls Solar Tiree CIG 11.0801 11471 13221 16791 12651 11,0761 14,6601 18,2291 {5401 11681 Vouchers {7081 Governgnce costs Governance costs- accountancy foes 17601 (6001 Expendlture on charitable acllvltles 18.9891 11,3081 15