Board Of Management Of Lews Castle College
Latest income
£6.5m
Latest spending
£7.9m
Accounts read
FY2023
Financial health, per FY2023 accounts
The accounts state that the college reported a deficit for the year of £1,396k, with accumulated reserves of £11,193k. The college received a cash advance of £725k from UHI to ensure liquidity and merged with other colleges in August 2023, transferring all assets and liabilities to the new entity.
What the accounts disclose
Related-party transaction: The College and Ceolas Uibhist Limited entered into a 50:50 joint venture arrangement on 17 June 2019 to establish Cnoc Soilleir Ltd
“The College and Ceolas Uibhist Limited entered into a 50:50 joint venture arrangement on 17 June 2019 to establish Cnoc Soilleir Ltd, a company limited by guarantee, to take forward the development and operation of the Cnoc Soilleir building and facility in Daliburgh, South Uist.” — page 45
Per FY2023 accounts as filed with OSCR.
Related-party transaction: Transactions with Cnoc Soilleir (Chair, Board member, Principal & CEO)
“The College and Ceolas Uibhist Limited entered into a 50:50 joint venture arrangement on 17 June 2019 to establish Cnoc Soilleir Ltd, a company limited by guarantee, to take forward the development and operation of the Cnoc Soilleir building and facility in Daliburgh, South Uist.” — page 45
Per FY2023 accounts as filed with OSCR.
Related-party transaction: Transactions with Stornoway Port Authority (Chair)
“The College and Ceolas Uibhist Limited entered into a 50:50 joint venture arrangement on 17 June 2019 to establish Cnoc Soilleir Ltd, a company limited by guarantee, to take forward the development and operation of the Cnoc Soilleir building and facility in Daliburgh, South Uist.” — page 45
Per FY2023 accounts as filed with OSCR.