Outer Hebrides Fisheries Trust - Charities report - 18.1

REGISTERED COMPANY NUMBER: SC307684 (Scotland)

REGISTERED CHARITY NUMBER: SC040530

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD

1 APRIL 2017 TO 30 JUNE 2018

FOR

OUTER HEBRIDES FISHERIES TRUST

OUTER HEBRIDES FISHERIES TRUST

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2017 TO 30 JUNE 2018

Page

Report of the Trustees

1 to 3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6 to 7

Notes to the Financial Statements

8 to 13

OUTER HEBRIDES FISHERIES TRUST

REPORT OF THE TRUSTEES

FOR THE PERIOD 1 APRIL 2017 TO 30 JUNE 2018

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 period 1 April 2017 to 30 June 2018. 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 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Trust is a charitable, community-based organisation conducting scientific research into wild fish stocks and their

habitat; advising on freshwater fisheries management and acting as a focal point of angling tourism.

The Trust also works closely with its umbrella organisation, Fisheries Management Scotland (FMS); with Marine Scotland

and the Western Isles Salmon Fisheries Board (WISFB).

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Representation

The Trust is a member of the Project Advisory Group for the Scottish Natural Heritage ('SNH') Hebridean Mink Project

and is represented on the Sustainability and Environment Forum.

The Trust is represented on the Lewis and Harris Biodiversity Action Group, the Coastal Zone Management Group, the

Lewis and Harris Deer Management Group, the Woodland Planning Group, the Loch nam Madaidh Marine Site Special

Area of Conservation, the Langavat Special Area of Conservation Steering Group and the West Highland Area Advisory

Group for River Basin Management Planning.

Summary of Key Activities during the Reporting Period

Provide fisheries management advice to stakeholders;

Site Condition Monitoring;

Advising WIDSFB on aquaculture planning applications and onshore and offshore renewable energy schemes;

Langavat Special Area of Conservation (SAC) Management Plan;

Franchise manager for Fish Hebrides website;

Developing community access to fisheries;

Salmon in the Classroom;

Updating Biosecurity Plan.

FINANCIAL REVIEW

Principal funding sources

The Trust is funded from a variety of sources. These include:

Donations from Western Isles Salmon Fisheries Properietors;

Government funding for Managing Interactions with Aquaculture Project;

Funded project work;

Charitable donations.

Reserves policy

The financial results for the period ended 30 June 2018 record a deficit of £15,498 (2017 - £10,294 deficit) with total

funds of £24,960 (2017 - £40,458).

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.

The trust is a charitable company limited by guarantee, incorporated on 30 August 2006. The company was established

under a Memorandum of Association which established the objects and powers of the charitable company and is

governed under its Articles of Association. In the event of the company being wound up members are required to

contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

The Trust is comprised of up to twelve Trustees/Directors.

Four Trustees are appointed from Nominating Bodies. These are the Western Isles District Salmon Fisheries Board

('WISFB'); Comhairle nan Eilean Siar ('CNES'); Scottish Natural Heritage ('SNH') and Aquaculture.

The remaining eight Trustees represent statutory and regulatory bodies, fishery owners and managers, angling clubs and

community groups.

Those invited to become Trustees are selected for their interests and skills in achieving the objectives of the Trust.

Organisational structure

The Trust has two full-time staff (Biologist and Angling Promotion Officer) and one part time staff (Administrative

Officer).

There is a Sub-Management Committee made up of three Trustees who are responsible for overall management of the

Trust and its staff. The Sub-Management Committee is answerable to the Chairman and the Board of Trustees.

Induction and training of new trustees

New Trustees undergo a formal induction process to ensure they:

Comply with relevant Charities regulation and act in the interests of the charitable objectives of the Trust;

Declare personal or professional conflicts of interest;

Act solely for the benefit of the Trust;

Are registered with OSCR;

Comply with the Companies Act;

Are aware of the Health and Safety Policy of the Trust.

Trust staff have undertaken training in Health and Safety; electro fishing; first aid; fisheries law; fish disease recognition

and information technology.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC307684 (Scotland)

Registered Charity number

SC040530

Registered office

The Sawmill

Marybank

Stornoway

Isle of Lewis

HS2 0DD

Trustees

G Curtis

- resigned 18.6.18

F Granville

I M Maciver

I Morrison

O G Foote

C Nicolson

E D Green

I M Macdonald

- resigned 30.4.18

M Macdonald

S Woodhall

- resigned 20.4.18

R Davies

A M Maciver

- appointed 18.6.18

Independent examiner

CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS

Approved by order of the board of trustees on 28 March 2019 and signed on its behalf by:

I M Maciver - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

OUTER HEBRIDES FISHERIES TRUST

I report on the accounts for the period 1 April 2017 to 30 June 2018 set out on pages five to thirteen.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities

and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The

charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not

apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether

particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006

(as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the

accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts,

and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide

all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given

by the accounts.

Independent examiner's statement

In the course of my examination, no matter has come to my attention:

(1)

which gives me reasonable cause to believe that, in any material respect, the requirements

-

to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

-

to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Calum Macdonald

Chartered Accountant (ICAS)

CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS

28 March 2019

OUTER HEBRIDES FISHERIES TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD 1 APRIL 2017 TO 30 JUNE 2018

Period

1.4.17

to

Year Ended

30.6.18

31.3.17

Unrestricted fund

Restricted fund

Total funds

Total funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

52,300

-

52,300

499

Charitable activities

4

Fisheries Management

44,335

-

44,335

77,119

Other trading activities

3

15,695

-

15,695

11,969

Total

112,330

-

112,330

89,587

EXPENDITURE ON

Raising funds

-

-

-

50

Charitable activities

Fisheries Management

127,828

-

127,828

99,831

Total

127,828

-

127,828

99,881

NET INCOME/(EXPENDITURE)

(15,498

)

-

(15,498

)

(10,294

)

RECONCILIATION OF FUNDS

Total funds brought forward

40,008

450

40,458

50,752

TOTAL FUNDS CARRIED FORWARD

24,510

450

24,960

40,458

OUTER HEBRIDES FISHERIES TRUST

BALANCE SHEET

AT 30 JUNE 2018

30.6.18

31.3.17

Unrestricted fund

Restricted fund

Total funds

Total funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

9

15,212

-

15,212

5,921

CURRENT ASSETS

Debtors

10

18,327

-

18,327

30,370

Cash at bank and in hand

5,001

676

5,677

11,969

23,328

676

24,004

42,339

CREDITORS

Amounts falling due within one year

11

(8,184

)

(226

)

(8,410

)

(7,802

)

NET CURRENT ASSETS

15,144

450

15,594

34,537

TOTAL ASSETS LESS CURRENT LIABILITIES

30,356

450

30,806

40,458

CREDITORS

Amounts falling due after more than one year

12

(5,846

)

-

(5,846

)

-

NET ASSETS

24,510

450

24,960

40,458

FUNDS

14

Unrestricted funds

24,510

40,008

Restricted funds

450

450

TOTAL FUNDS

24,960

40,458

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the period ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended

30 June 2018 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 of the 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.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 28 March 2019 and were signed on its behalf by:

I M Maciver -Trustee

OUTER HEBRIDES FISHERIES TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2017 TO 30 JUNE 2018

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 2015)', 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 financial statements are prepared in sterling which is the functional currency of the charity and are rounded

to the nearest £.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as

permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

-

the requirements of Section 7 Statement of Cash Flows.

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

or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

- 20% on reducing balance

Computer equipment

- 33% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Balance Sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant

period. The capital element of the future payments is treated as a liability.

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.

2.	DONATIONS AND LEGACIES

Period

1.4.17

to

Year Ended

30.6.18

31.3.17

£

£

Donations

52,300

499

3.	OTHER TRADING ACTIVITIES

Period

1.4.17

to

Year Ended

30.6.18

31.3.17

£

£

Fundraising events

1,289

4,247

Fish Hebrides

9,743

3,962

Surveys

2,825

1,143

Other income

838

1,617

Catch and Release Competition

1,000

1,000

15,695

11,969

4.	INCOME FROM CHARITABLE ACTIVITIES

Period

1.4.17

to

Year Ended

30.6.18

31.3.17

Activity

£

£

Grants

Fisheries Management

40,073

74,119

Employment allowance

Fisheries Management

4,262

3,000

44,335

77,119

Grants received, included in the above, are as follows:

Period

1.4.17

to

Year Ended

30.6.18

31.3.17

£

£

Western Isles Salmon Fisheries Board

-

57,000

River and Fisheries Trust

-

15,525

Scottish Natural Heritage

278

-

Scottish Salmon Company

2,500

-

An Treas Roinn Innse Gall (Third Sector Hebrides)

2,000

1,594

EB Scotland

10,000

-

Fisheries Management Scotland

25,295

-

40,073

74,119

5.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period

1.4.17

to

Year Ended

30.6.18

31.3.17

£

£

Depreciation - owned assets

2,191

1,690

Depreciation - assets on hire purchase contracts and finance leases

4,592

-

Surplus on disposal of fixed asset

(6,970

)

-

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 June 2018 nor for the year ended

31 March 2017.

Trustees' expenses

There were no trustees' expenses paid for the period ended 30 June 2018 nor for the year ended 31 March 2017.

7.	STAFF COSTS

The average monthly number of employees during the period was as follows:

Period

1.4.17

to

Year Ended

30.6.18

31.3.17

Fisheries management

3

3

No employees received emoluments in excess of £60,000.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund

Restricted fund

Total funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

499

-

499

Charitable activities

Fisheries Management

75,525

1,594

77,119

Other trading activities

11,969

-

11,969

Total

87,993

1,594

89,587

EXPENDITURE ON

Raising funds

50

-

50

Charitable activities

Fisheries Management

98,687

1,144

99,831

Total

98,737

1,144

99,881

NET INCOME/(EXPENDITURE)

(10,744

)

450

(10,294

)

RECONCILIATION OF FUNDS

Total funds brought forward

50,752

-

50,752

TOTAL FUNDS CARRIED FORWARD

40,008

450

40,458

9.	TANGIBLE FIXED ASSETS

Plant and machinery

Motor vehicles

Computer equipment

Totals

£

£

£

£

COST

At 1 April 2017

8,412

-

1,929

10,341

Additions

-

14,694

1,380

16,074

At 30 June 2018

8,412

14,694

3,309

26,415

DEPRECIATION

At 1 April 2017

3,357

-

1,063

4,420

Charge for year

1,264

4,592

927

6,783

At 30 June 2018

4,621

4,592

1,990

11,203

NET BOOK VALUE

At 30 June 2018

3,791

10,102

1,319

15,212

At 31 March 2017

5,055

-

866

5,921

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor vehicles

£

COST

Additions

14,694

DEPRECIATION

Charge for year

4,592

NET BOOK VALUE

At 30 June 2018

10,102

At 31 March 2017

-

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

31.3.17

£

£

Trade debtors

3,327

-

Other debtors

15,000

29,000

Prepayments and accrued income

-

1,370

18,327

30,370

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

31.3.17

£

£

Trade creditors

4,573

1,954

Social security and other taxes

2,503

4,026

Accrued expenses

1,334

1,822

8,410

7,802

12.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.18

31.3.17

£

£

Hire purchase (see note 13)

5,846

-

13.	LEASING AGREEMENTS

Hire purchase contracts

30.6.18

31.3.17

£

£

Net obligations repayable:

Between one and five years

5,846

-

14.	MOVEMENT IN FUNDS

At 1.4.17

Net movement in funds

At 30.6.18

£

£

£

Unrestricted funds

General fund

40,008

(15,498

)

24,510

Restricted funds

Restricted

450

-

450

TOTAL FUNDS

40,458

(15,498

)

24,960