The Kilchoan Melfort Trust
Latest income
£32.4m
Latest spending
£8.3m
Accounts read
FY2024
Financial health, per FY2024 accounts
The accounts state that the charity secured £32.36m of income during the period, primarily through donations and gifts, resulting in a net income movement of £24.08m. The trustees report that the reserves policy of maintaining three months of essential running costs was met, with group cash at the period end being £736k against a required £430k. However, the independent auditor issued a qualified opinion due to overstated tangible fixed assets and investment values, as well as understated creditors in a subsidiary.
What the accounts disclose
Highest-paid employee band: £60,001 - £70,000
“There were no employees whose annual remuneration was more than £60,000, as noted in note 8 directors fees of £96,000 were paid in the year to one Trustee.” — page 29
Per FY2024 accounts as filed with OSCR.
Payments to trustees: Jon Strickland received £96,000 remuneration; his wife received £23,952 for services.
“During the period, one Trustee, Jon Strickland received renumeration totalling £96,000 for his work of overseeing and managing the estate in accordance with an underlying agreement between him and the subsidiary, Kilchoan Management Limited.” — page 29
Per FY2024 accounts as filed with OSCR.
Related-party transaction: Trustee remuneration
“During the period, one Trustee, Jon Strickland received renumeration totalling £96,000 for his work of overseeing and managing the estate in accordance with an underlying agreement between him and the subsidiary, Kilchoan Management Limited.” — page 29
Per FY2024 accounts as filed with OSCR.
Related-party transaction: Trustee connected business services
“During the period, one Trustee, Jon Strickland received renumeration totalling £96,000 for his work of overseeing and managing the estate in accordance with an underlying agreement between him and the subsidiary, Kilchoan Management Limited.” — page 29
Per FY2024 accounts as filed with OSCR.
Related-party transaction: Gift of shares by related party
“During the period, one Trustee, Jon Strickland received renumeration totalling £96,000 for his work of overseeing and managing the estate in accordance with an underlying agreement between him and the subsidiary, Kilchoan Management Limited.” — page 29
Per FY2024 accounts as filed with OSCR.
Related-party transaction: Rent charged to related party
“During the period, one Trustee, Jon Strickland received renumeration totalling £96,000 for his work of overseeing and managing the estate in accordance with an underlying agreement between him and the subsidiary, Kilchoan Management Limited.” — page 29
Per FY2024 accounts as filed with OSCR.