Oban & Lorn Community Enterprise Ltd
Latest income
£1.7m
Latest spending
£1.8m
Accounts read
FY2024
Form
Trust (founding document is a deed of trust) (other than educational endowment)
Financial health, per FY2024 accounts
The accounts state that the charity reported an improved deficit position with total income of £1,632,355 against total expenditure of £1,572,845 for the year ended 31 December 2024. Per the trustees' report, free reserves increased to £273,756, although this figure remains below the charity's stated policy target of two months of charitable expenditure (approximately £280,000). The auditors confirmed that the financial statements give a true and fair view and identified no material uncertainties regarding the charity's ability to continue as a going concern.
What the accounts disclose
Reserves position: below the charity's own stated policy
“The board fully appreciates that actual free reserves fall short of the charity’s policy and continue to work to improve the position.” — page 9
Per FY2024 accounts as filed with OSCR.
Related-party transaction: Trustee is the owner of Matheson’s Furnishing and during the year the company purchased goods worth £5,772 (2023: £13,727). There was no balance outstanding at the year end.
“The company purchases goods and services, in the normal course of business, with certain firms which have a connection with some of the Directors of the company. Trustee is the owner of Matheson’s Furnishing and during the year the company purchased goods worth £5,772 (2023: £13,727). There was no balance outstanding at the year end.” — page 23
Per FY2024 accounts as filed with OSCR.
Employees paid over £60,000: 0
Per FY2024 accounts as filed with OSCR.
Independent examiner: Wbg (Audit) Limited
Per FY2024 accounts as filed with OSCR.