IRIS Accounts Production v19.3.2.199 Other Company accounts True False Pounds 1.4.18 31.3.19 31.3.19 FY D R Green D R Green FRS 102 Audited Large and medium-sized companies regime for accounts Full Charities SORP True True True True True True True True False True False False iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure SC091075 2018-03-31 SC091075 2019-03-31 SC091075 2018-04-01 2019-03-31 SC091075 2017-03-31 SC091075 2017-04-01 2018-03-31 SC091075 2018-03-31 SC091075 ns0:CharitableCompanyLimitedByGuarantee 2018-04-01 2019-03-31 SC091075 ns15:PoundSterling 2018-04-01 2019-03-31 SC091075 ns0:Trustee1 2018-04-01 2019-03-31 SC091075 ns11:FRS102 2018-04-01 2019-03-31 SC091075 ns11:Audited 2018-04-01 2019-03-31 SC091075 ns11:LargeMedium-sizedCompaniesRegimeForAccounts 2018-04-01 2019-03-31 SC091075 ns11:FullAccounts 2018-04-01 2019-03-31 SC091075 ns11:CharitiesSORP 2018-04-01 2019-03-31 SC091075 ns16:Scotland 2018-04-01 2019-03-31 SC091075 ns11:RegisteredOffice 2018-04-01 2019-03-31 SC091075 ns0:Trustee2 2018-04-01 2019-03-31 SC091075 ns0:Trustee3 2018-04-01 2019-03-31 SC091075 ns0:Trustee4 2018-04-01 2019-03-31 SC091075 ns0:Trustee5 2018-04-01 2019-03-31 SC091075 ns0:Trustee6 2018-04-01 2019-03-31 SC091075 ns0:Trustee7 2018-04-01 2019-03-31 SC091075 ns0:Trustee8 2018-04-01 2019-03-31 SC091075 ns0:Trustee9 2018-04-01 2019-03-31 SC091075 ns0:TotalUnrestrictedFunds 2018-04-01 2019-03-31 SC091075 ns0:TotalRestrictedIncomeFunds 2018-04-01 2019-03-31 SC091075 ns0:Activity9 2018-04-01 2019-03-31 SC091075 ns0:TotalUnrestrictedFunds ns0:Activity9 2018-04-01 2019-03-31 SC091075 ns0:TotalRestrictedIncomeFunds ns0:Activity9 2018-04-01 2019-03-31 SC091075 ns0:Activity9 2017-04-01 2018-03-31 SC091075 ns0:TotalUnrestrictedFunds 2018-03-31 SC091075 ns0:TotalRestrictedIncomeFunds 2018-03-31 SC091075 ns0:TotalUnrestrictedFunds 2019-03-31 SC091075 ns0:TotalRestrictedIncomeFunds 2019-03-31 SC091075 ns10:WithinOneYear 2019-03-31 SC091075 ns10:WithinOneYear 2018-03-31 SC091075 ns10:AfterOneYear 2019-03-31 SC091075 ns10:AfterOneYear 2018-03-31 SC091075 ns10:OwnedOrFreeholdAssets ns10:LandBuildings 2018-04-01 2019-03-31 SC091075 ns10:LongLeaseholdAssets ns10:LandBuildings 2018-04-01 2019-03-31 SC091075 ns10:FurnitureFittingsToolsEquipment 2018-04-01 2019-03-31 SC091075 ns10:ComputerEquipment 2018-04-01 2019-03-31 SC091075 2 2018-04-01 2019-03-31 SC091075 3 2018-04-01 2019-03-31 SC091075 1 2018-04-01 2019-03-31 SC091075 1 2017-04-01 2018-03-31 SC091075 ns10:OwnedAssets 2018-04-01 2019-03-31 SC091075 ns10:OwnedAssets 2017-04-01 2018-03-31 SC091075 ns0:TotalUnrestrictedFunds 2017-04-01 2018-03-31 SC091075 ns0:TotalRestrictedIncomeFunds 2017-04-01 2018-03-31 SC091075 ns0:TotalUnrestrictedFunds ns0:Activity9 2017-04-01 2018-03-31 SC091075 ns0:TotalRestrictedIncomeFunds ns0:Activity9 2017-04-01 2018-03-31 SC091075 ns10:OwnedOrFreeholdAssets ns10:LandBuildings 2018-03-31 SC091075 ns10:LongLeaseholdAssets ns10:LandBuildings 2018-03-31 SC091075 ns10:FurnitureFittings 2018-03-31 SC091075 ns10:ComputerEquipment 2018-03-31 SC091075 ns10:FurnitureFittings 2018-04-01 2019-03-31 SC091075 ns10:OwnedOrFreeholdAssets ns10:LandBuildings 2019-03-31 SC091075 ns10:LongLeaseholdAssets ns10:LandBuildings 2019-03-31 SC091075 ns10:FurnitureFittings 2019-03-31 SC091075 ns10:ComputerEquipment 2019-03-31 SC091075 ns10:OwnedOrFreeholdAssets ns10:LandBuildings 2018-03-31 SC091075 ns10:LongLeaseholdAssets ns10:LandBuildings 2018-03-31 SC091075 ns10:FurnitureFittings 2018-03-31 SC091075 ns10:ComputerEquipment 2018-03-31 SC091075 ns10:CostValuation 2018-03-31 SC091075 ns10:CostValuation ns10:ListedExchangeTraded 2018-03-31 SC091075 ns10:Subsidiary1 2018-04-01 2019-03-31 SC091075 ns10:Subsidiary1 1 2018-04-01 2019-03-31 SC091075 ns10:Subsidiary1 2019-03-31 SC091075 ns10:Subsidiary1 2018-03-31 SC091075 ns10:Subsidiary1 2017-04-01 2018-03-31 SC091075 ns10:WithinOneYear 2017-03-31 SC091075 ns10:BetweenOneTwoYears 2019-03-31 SC091075 ns10:BetweenOneTwoYears 2018-03-31 SC091075 ns10:BetweenTwoFiveYears 2019-03-31 SC091075 ns10:BetweenTwoFiveYears 2018-03-31 SC091075 ns10:Secured 2019-03-31 SC091075 ns10:Secured 2018-03-31

REGISTERED COMPANY NUMBER: SC091075 (Scotland)

REGISTERED CHARITY NUMBER: SC003287




























REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2019




FOR


AN LANNTAIR LIMITED




AN LANNTAIR LIMITED


CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019















Page




Report of the Trustees

1 to 8




Report of the Independent Auditors

9 to 10




Statement of Financial Activities

11




Balance Sheet

12




Cash Flow Statement

13




Notes to the Cash Flow Statement

14




Notes to the Financial Statements

15 to 27




AN LANNTAIR LIMITED


REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2019



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 year ended 31 March 2019. 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

An Lanntair Vision Statement

An Lanntair's Vision Statement is:-

"Together we will carry a torch for creativity and the arts in the Outer Hebrides."

The vision encompasses the charity's three main areas of activity:-

- Visual Arts
- Performing Arts and Cinema
- Education, Outreach and Artist Support

It frames a commitment to excellence, diversity, access, inclusion, participation and cultural identity. It declares an
intention to provide a better, more varied arts programme, accessed by more people, more often, to greater and deeper
benefit.

Objectives and aims
The main objectives of the charity are:-

- To promote the study, practice and knowledge of the arts for the public benefit; and
- To present, promote, organise, provide, manage and produce exhibitions, films, recordings, broadcasts and
entertainments whether on any premises of the organisation or elsewhere as are conducive to the promotion,
maintenance, improvement and advancement of education or to the encouragement of the arts.

The charity aims to:-

- Present and represent the best of the visual and performing arts - locally, nationally and internationally.
- Provide variety and diversity, with an emphasis on quality.
- Provide opportunities to participate in the arts.
- Provide a forum and support infrastructure for local artists/artistes.
- Promote traditional and contemporary Gaelic culture.
- Educate, illuminate and inform.
- Challenge, inspire and entertain.
- Deliver an integrated education and outreach programme across a range of art forms.
- Engage and develop audiences.

Significant activities

The charity's efforts over recent years have resulted in it being awarded Regular Funding status by Creative Scotland.

Employment

An Lanntair Ltd is a major employer on the Isle of Lewis, with the charitable company employing an average of 30 staff
in 2018-19.


AN LANNTAIR LIMITED


REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2019



STRATEGIC REPORT

Achievement and performance

Charitable activities

An Lanntair is a multi-arts venue - at one and the same time a contemporary art gallery, a theatre, a cinema, a concert
hall, a platform for poetry and literature, a studio - every space is stretched to showcase the arts in multiple forms.
Encompassing it all, we pride ourselves in presenting an inspirational programme of excellence that engages and
illuminates our audiences.

Our work stretches across a national and indeed international platform, yet our distinctiveness lies in being 'of the place',
rooted in who we are, and the creativity of Gaelic and the Outer Hebrides takes centre stage. Our magnificent,
nationally significant arts centre on the Stornoway waterfront includes a 200 seat auditorium, world-class gallery spaces,
office space, shop, and café bar facilities. The building was one of the largest ever arts developments in the Highlands
and Islands and is of key strategic importance nationally for the arts and culture of the Outer Hebrides.

Our programme has an enviable reputation and over the years major awards and endorsements have been received
from, amongst others, Arts & Business, Arts and Tourism (Trophy), Art Partners, Traditional Music Venue of the Year, the
Gaelic Awards and Creative Place Awards.

2018-19 was another excellent year for An Lanntair, one in which we consolidated much of the brilliant work we do in
Education & Outreach (E&O), and one in which the programme was of a high quality in every aspect of the diverse
output that An Lanntair has come to embody. Highlights of the year included the annual UHI student showcase in early
May, the culmination of a week when music students from across Scotland converge on Stornoway to play and learn
together. By way of contrast, the Anda Union concert at the end of May was incredible - Mongolian throat-singing,
wonderful instruments, amazing tunes. August saw another wonderful Purvai festival, with an Indian banquet, and
remarkable mesmerising music from Dalbir Singh Rattan and colleagues, bringing us Tabla and Santoor music and
Kathak dancing - a great experience, supplemented by work with a great many school children.

The Muir is Tir exhibition at the end of August, showcasing the work of six artists who benefited from residencies in the
islands, was really interesting, challenging and provocative. Then we were into an autumn of unforgettable events.
Faclan, at the beginning of November, was a great mixture of writers and films and other activities. Kathryn Mannix's talk
about her book, 'With the End in Mind' was eloquent and powerful. Peter May drew a large audience of followers of his
Lewis trilogy and other works. There was something for everyone.

At the same time we were into the 'Iolaire' events - a really brilliant and sustained programme, which put huge pressure
on all our staff, but to which they stepped up with their usual professionalism and sensitivity. At the end of October we
were treated to the première of 'Sàl', the collaboration between Iain Morrison and Dalziel & Scullion. This was
immensely powerful and so well-conceived and produced. It was followed two weeks later by the equally brilliant first
performance of 'An Treas Suaile', 'The third Wave', by Julie Fowlis and Duncan Chisholm. And then we had the hugely
ambitious and emotionally-charged exhibition of Margaret Ferguson's 'Iolaire' portraits and the sculpture and the
development of the memorial at Holm. At the end of November, we were back celebrating the best of Scottish
contemporary with Breabach.

Our first Hebridean Dark Skies Festival in February was a brilliant concept and really successful, a reminder of the skills
and resourcefulness of our staff, and of the fact that we have become very good at producing festivals.

Our E&O team excelled itself in 2018/19, starting, with ESF funding, the Full Circle programme, developing the Artist
support Programme with Sandra Kennedy, delivering Saturday Art clubs, Drama Club, Art Labs and a host of activity for
children, and working to great effect with Grianan and Ardseileach in support of adults. The success of Cianalas, our
dementia-related programme, continued, with a great range of activities.

We are delighted that we have continued our commitment to managing a successful arts organisation, with a wonderful
team of staff and dedicated board of directors, whom we thank for all their hard work and commitment throughout this
year. Our programme takes place within our arts centre situated in Stornoway in the Outer Hebrides of Scotland. We
work outreach across the Isles of Lewis and Harris and more widely through our partnerships across the Outer Hebrides
area. We are governed by eight Board Directors who meet five times a year and provide support and challenge to the
Chief Executive and the Management Team.

The words 'An Lanntair' mean 'The Beacon' in Scottish Gaelic, which directly connects with our vision and organisational
objectives, which are:

Objective 1 - Programme - Producing and presenting a programme of excellence:


AN LANNTAIR LIMITED


REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2019



STRATEGIC REPORT

Achievement and performance

Charitable activities

- To produce exciting, and ambitious artistic programmes cohesively connected across artforms, which engage,
illuminate and inspire.
- To be an artistic bridge to and from diverse communities and cultures.
- To celebrate and illuminate our Hebridean uniqueness.
- To celebrate, promote and facilitate the growth of contemporary and traditional Gaelic arts, language, culture and
creative industries.
- To embrace and deploy digital media and new technologies across our work, programme and wider practice.

Objective 2 - People - Successfully engaging diverse audiences and participants.

- To foster talent, nurture potential, and showcase artistic excellence and creative entrepreneurship.
- To listen to our audiences, engage them in dialogue and grow their loyalty and attendance.
- To create diverse opportunities for people to experience the richness of the arts.

Objective 3 - Place - Creating an inclusive community hub for creativity.

- To facilitate, energise and showcase the social, cultural, linguistic, environmental and unique mix of values that co-exist
across these islands, to the benefit of everyone.
- To be a hub for creativity that feeds, actively supports and facilitates high quality outreach and community programmes
that grow capacity across the Outer Hebrides.
- To offer an inclusive and welcoming environment that is valued by all, enhancing the sense of well-being of local
people and visitors alike.

Objective 4 - Partnerships and Sustainability - Working in close partnership across the sector to grow our
business and create new growth across the creative industries and the Gaelic arts.

- To seek mutually beneficial partnerships that create added value for the artistic, economic and social well-being of
Outer Hebrides.
- To provide leadership and support for the wider arts community in the Outer Hebrides.
- To continuously strengthen and support the business model and diversify income streams.

Collectively, these objectives fully embrace An Lanntair's mission statement, which is:

"To connect and inspire people in producing extraordinary, creative programmes, uniquely rooted in the place and
reflecting the arts and ideas of our time".

An Lanntair delivers wide reaching education and outreach programmes across the local community, creating long term
opportunities for local children, young people and families to connect with the arts and creative practice and, for some,
grow their own careers and enterprises in the cultural sector. The charity's activities and future plans confirm its vital
place in the economic as well as the cultural life on the Outer Hebrides. It is a significant employer and provides a
resource for all the community.

Investment performance

The market value of the charity's equity investments has increased by £128 (16%) during the year to 31 March 2019
(2018 - £130 decrease (14%)).

Internal and external factors

Risk assessment policies and procedures have been agreed and implemented to mitigate the impact of factors which are

outside the charity's control.  A detailed Risk Register has been developed, assessing risk against a number of criteria,

including operational, strategic and external.


The corporate governance structures of the charity have been improved as part of a funded transition programme.

Systems and procedures for Financial information and Health and Safety have been upgraded to reflect the increased

activity levels of the organisation, and reports on these key matters are standing items at all Board meetings.



AN LANNTAIR LIMITED


REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2019



STRATEGIC REPORT

Financial review

Principal funding sources

The principal funders of the core arts programme of the charity for the year under review are:-
£
Creative Scotland 403,333
Comhairle nan Eilean Siar 65,935
Point and Sandwick Trust 20,000
488,268
All the organisations are committed to ongoing financial support in the future.

The charity has secured its core funding for the forthcoming three years, with commitments from its main stakeholders,
Creative Scotland and Comhairle nan Eilean Siar, and shorter-term working capital support from Highlands and Islands
Enterprise and Comhairle nan Eilean Siar.

The ongoing organisational development programme has delivered a robust 3-5 year costed business plan, with 3 year
cash flow forecasts, and a commitment from the Board to start to create reserves consistent with an arts organisation
whose principal asset is a major arts centre. Recent re-organisation of the staff and management of the arts programme
and all related activity has led to savings and efficiencies that will deliver a financially sustainable organisation in the
medium term.

The results for the year and financial position of the charity are as shown in the annexed financial statements and further
details can be found in the notes to the financial statements.

Investment policy and objectives

The historical financial constraints under which the charity has operated have not generated funds available for
long-term investment. Surplus funds when available are placed on deposit with the charity's bankers.

The existing fixed asset investments represents funds received by way of a legacy and comprises equity stocks and
shares listed on a recognised stock exchange.

Reserves policy

The board has established a policy that revenue expenditure each year should not exceed income. The charity is
dependent upon the continuing support of its principal funders (Creative Scotland and Comhairle nan Eilean Siar) to
continue the activities of the charity.

The charity's programme and funding historically have made it difficult to establish any surplus on general reserves.

The Board has examined the charity's requirements for reserves in light of the main risks to the charity. It considers that
three to six months of the budgeted expenditure should be carried in unrestricted reserves which would equate to
£230,000 to £460,000 for 2018/2019. The current level of unrestricted reserves falls significantly short of this level. The
strategy is to build reserves through planned operating surpluses and the board is aware that the achievement of the
target level of reserves is a long-term strategy.

During the year the charity's expenditure exceeded income resulting in net expenditure of £351,214 for the period (2018
- net expenditure of £138,918). Unrealised losses on the charity's investments at 31 March 2019 amounted to £130.
Unrestricted funds have decreased by £91,548 (2018 - increase of £1,720) to £2,793 (2018 - £94,341). Restricted funds
have decreased by £259,666 (2017 - £140,638) to £2,758,731 (2018 - £3,018,397).

The decrease in restricted funds relates mainly to the depreciation charge for the year charged to restricted funds in
respect of the arts centre building, equipment and fittings. Restricted funds includes the funds raised to assist with the
building of the arts centre and the purchase of equipment and fittings and are utilised to fund the future depreciation of
the capital expenditure.


AN LANNTAIR LIMITED


REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2019



STRATEGIC REPORT

Future plans

We have four major objectives that encapsulate our ambitions.  These are:


Amas 1 - Prògram - A' cruthachadh is a' taisbeanadh prògram de shar-mhathas.

Objective 1 - Programme - Producing and presenting a programme of excellence.


Our visual, performing arts and literature programmes will demonstrate excellence, as well as support for and celebration

of artists taking new and sometimes extraordinary next steps in their personal development, showcasing well-produced

experimentation.


Amas 2 - Daoine - A' toirt luchd-amhairc is luchd-compàirt an sàs.

Objective 2 - People - Successfully engaging diverse audiences and participants.


Engaging people, whether their interest is in growing their own creative practice, experiencing fine art, watching a film,

dancing, weaving or just great coffee, is our highest priority.  Here at An Lanntair, we believe it is our responsibility to

provide a safe, inclusive space, and a vibrant and creative space for everyone to explore their own creativity, and to feel

wanted and welcome.  We will continue to offer a vast range of learning opportunities, classes, talks and resources to

help our audiences to engage as fully as they wish to with our performing arts and visual arts programmes.  Packages of

activities will be tailored to each exhibition and many of our performances and projects to enable people of all ages and

abilities to learn, be inspired and create.  Programmes will address barriers to participation with practical support,

highlighting 'routes in' throughout our work to enjoying the arts.


Amas 3 - Àite - A' cruthachadh ionad coimhearsnachd cruthachail dha na h-uile.

Objective 3 - Place - Creating an inclusive community hub for creativity.


We will continue to take our responsibility as a place-maker very seriously.  An Lanntair sits at the heart of our

community; we work with partners across our locality to develop new and imaginative ways to engage people with

community life through the arts.


Amas 4 - Com-pàirteachasan agus Seasmhachd - Ag obair ann an co-bhuinn air feadh na roinne ach an tig

fàs air a' ghnothachas againn fhìn agus gun tig fàs ùr air na gnìomhachasan cruthachail agus ealain

Ghàidhlig.

Objective 4 - Partnerships and Sustainability - Working in close partnership across the sector to grow our business and

create new growth across the creative industries and the Gaelic arts.


We will continue to develop and grow multiple new strategic and delivery partnerships.


We will also be leading on important development and growth of the Gaelic arts workforce and sector, and have recently

recruited a Gaelic Officer.  We are committed to sourcing ways to extend this as a permanent role, growing a strong

network of Gaelic arts venues and organisations working together into the future.


We will be enhancing our role as a support provider for the creative industries.  Our support programme for artists and

creative practitioners will offer mentoring from industry specialists, workshops and a social network for creative

businesses and artists to connect with each other, support each other and create new joint ventures.


Importantly, we are committed to continuing to grow a strong and sustainable organisation of our own here at An

Lanntair, diversifying our income generation activity across a range of grant funding, private funders, programme income

and trading, and providing a supportive and developmental work environment for our staff, partners and everyone who

works with us.


STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 27 December 1984. 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.



AN LANNTAIR LIMITED


REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2019



STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the
Memorandum and Articles of Association the directors are appointed at the Annual General Meeting. One third of the
directors must retire by rotation at each Annual General Meeting.

The board aims to ensure that the challenges of a large organisation delivering an arts programme in a modern venue
are met through the recruitment of directors with an interest in the arts who bring a broad range of skills and contacts
within education, finance and local and national politics.

The charity intends to operate through a fit-for-purpose Board with committed and motivated staff resulting in
significantly enhanced corporate governance.

Organisational structure

The Board consists of voluntary directors who manage the affairs of the charity through regular meetings. The charity
has recently reviewed its corporate governance structure and articles of association, making it compliant with the
Companies Act 2006. Decisions from the Board are implemented by the senior management, comprising the Chief
Executive with Heads of services and programme areas.

The commercial trading activities of An Lanntair Limited are undertaken by a wholly owned subsidiary, An Lanntair
Trading Limited.

Induction and training of new trustees

The charity undertakes training for trustees to ensure awareness and understanding of:-
- the responsibilities of directors;
- the organisational structure of the charity;
- the financial position of the charity; and
- the future plans and objectives of the charity.

Wider network

The charity has established links with other organisations and agencies to foster the aims and objectives of the
organisation.

Related parties

The bar, cafe, restaurant and book and gift shop within the new arts centre are operated by a wholly owned subsidiary,
An Lanntair Trading Limited. Full details of the charity's subsidiary are included in the notes to the financial statements.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and error.

The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations
and finances of the charity, and are satisfied that systems are in place to mitigate their exposure to the major risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC091075 (Scotland)


Registered Charity number

SC003287


Registered office

TC Young

7 West George Street

Glasgow

G2 1BA



AN LANNTAIR LIMITED


REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2019



REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

D R Green



L V Maciver



S Deane



D W Morrison



I R Wilson

- resigned 7.11.18


U Macleod



A Rennie



C Peacock



I Macleod

- appointed 7.11.18



Auditors

CIB Audit

Statutory Auditor

63 Kenneth Street

Stornoway

Isle of Lewis

HS1 2DS


Bankers

Clydesdale Bank plc

23 South Beach Street

Stornoway

Isle of Lewis

HS1 2BQ


STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of An Lanntair Limited for the purposes of company law) are responsible for
preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard
102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view
of the state of affairs of the charitable company and of the incoming resources and application of resources, including
the income and expenditure, of the charitable company for that period. In preparing those financial statements, the
trustees are required to

- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the financial position of the charitable company and to enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditors are aware of that information.


AN LANNTAIR LIMITED


REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2019



Report of the trustees , incorporating a strategic report, approved by order of the board of trustees , as the company directors, on   27 November 2019 and signed on the board's behalf by:





D R Green - Trustee


REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF

AN LANNTAIR LIMITED



Opinion

We have audited the financial statements of An Lanntair Limited (the 'charitable company') for the year ended 31 March 2019 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.    


In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2019 and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the
Republic of Ireland'; and
- have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee
Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our

responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial

statements section of our report. We are independent of the charitable company in accordance with the ethical

requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,

and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit

evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to

you where:

-


the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not

appropriate; or

-


the trustees have not disclosed in the financial statements any identified material uncertainties that may cast

significant doubt about the charitable company's ability to continue to adopt the going concern basis of

accounting for a period of at least twelve months from the date when the financial statements are authorised for

issue.


Other information

The trustees are responsible for the other information. The other information comprises the information included in the

annual report, other than the financial statements and our Report of the Independent Auditors thereon.


Our opinion on the financial statements does not cover the other information and, except to the extent otherwise

explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing

so, consider whether the other information is materially inconsistent with the financial statements or our knowledge

obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or

apparent material misstatements, we are required to determine whether there is a material misstatement in the financial

statements or a material misstatement of the other information. If, based on the work we have performed, we conclude

that there is a material misstatement of this other information, we are required to report that fact. We have nothing to

report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-


the information given in the Report of the Trustees for the financial year for which the financial statements are

prepared is consistent with the financial statements; and

-


the Report of the Trustees has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of

the audit, we have not identified material misstatements in the Report of the Trustees.



REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF

AN LANNTAIR LIMITED



Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts

(Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

-


the charitable company has not kept proper and adequate accounting records or returns adequate for our audit

have not been received from branches not visited by us; or

-


the financial statements are not in agreement with the accounting records and returns; or

-


certain disclosures of trustees' remuneration specified by law are not made; or

-


we have not received all the information and explanations we require for our audit.


Responsibilities of trustees

As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the

charitable company for the purposes of company law) are responsible for the preparation of the financial statements and

for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary

to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or

error.


In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to

continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern

basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have

no realistic alternative but to do so.


Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes

our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in

accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud

or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence

the economic decisions of users taken on the basis of these financial statements.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting

Council's website at www.frc.org.uk/auditorsresponsibilities.  This description forms part of our Report of the

Independent Auditors.  


Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of

the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Section 44(1)(c) of the

Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations

2006. Our audit work has been undertaken so that we might state to the charitable company's members and trustees

those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the

charitable company's members and trustees as a body, for our audit work, for this report, or for the opinions we have

formed.




Calum Macdonald (Senior Statutory Auditor)

for and on behalf of CIB Audit

Statutory Auditor

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

63 Kenneth Street

Stornoway

Isle of Lewis

HS1 2DS


27 November 2019


AN LANNTAIR LIMITED


STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2019



31.3.19


31.3.18



Unrestricted

funds


Restricted

funds


Total

funds


Total

funds



Notes

£   


£   


£   


£   


INCOME AND ENDOWMENTS FROM


Donations and legacies

2

4,167


-


4,167


6,930


Charitable activities

4


Arts programme

1,048,827


25,601


1,074,428


1,241,539



Investment income

3

120


-


120


54


Total

1,053,114


25,601


1,078,715


1,248,523




EXPENDITURE ON


Charitable activities

5


Arts programme

1,144,662


285,395


1,430,057


1,387,311


Total

1,144,662


285,395


1,430,057


1,387,311



Net gains/(losses) on investments

-


128


128


( 130

)

NET INCOME/(EXPENDITURE)

( 91,548

)

( 259,666

)

( 351,214

)

( 138,918

)


RECONCILIATION OF FUNDS



Total funds brought forward

94,341


3,018,397


3,112,738


3,251,656



TOTAL FUNDS CARRIED FORWARD

2,793


2,758,731


2,761,524


3,112,738




AN LANNTAIR LIMITED


BALANCE SHEET

AT 31 MARCH 2019



31.3.19


31.3.18



Notes

£   


£   


FIXED ASSETS


Tangible assets

12

2,906,016


3,183,371


Investments

13

936


808


2,906,952


3,184,179




CURRENT ASSETS


Stocks

14

557


444


Debtors

15

101,476


59,916


Cash at bank and in hand


10,340


129,408


112,373


189,768




CREDITORS


Amounts falling due within one year

16

( 164,485

)

( 208,898

)


NET CURRENT ASSETS/(LIABILITIES)

( 52,112

)

( 19,130

)


TOTAL ASSETS LESS CURRENT LIABILITIES

2,854,840


3,165,049



CREDITORS


Amounts falling due after more than one year

17

( 93,316

)

( 52,311

)


NET ASSETS

2,761,524


3,112,738



FUNDS

21


Unrestricted funds

2,793


94,341


Restricted funds

2,758,731


3,018,397


TOTAL FUNDS

2,761,524


3,112,738




The financial statements were approved by the Board of Trustees on 27 November 2019 and were signed on its behalf by:






D R Green - Trustee



AN LANNTAIR LIMITED


CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2019



31.3.19


31.3.18


Notes

£   


£   


Cash flows from operating activities:


Cash generated from operations


1


(147,782

)

168,103


Interest paid


(3,656

)

(3,322

)

Finance costs


(5,097

)

(4,735

)

Net cash provided by (used in) operating

activities



(156,535

)

160,046



Cash flows from investing activities:


Purchase of tangible fixed assets


(9,231

)

(127,684

)

Interest received


75


19


Dividends received


45


35


Net cash provided by (used in) investing

activities



(9,111

)

(127,630

)


Cash flows from financing activities:


New loans in year


45,000


14,350


Loan repayments in year


(3,994

)

(2,101

)

Net cash provided by (used in) financing

activities



41,006


12,249



Change in cash and cash equivalents in the

reporting period



(124,640

)

44,665


Cash and cash equivalents at the beginning of

the reporting period


2


86,534


41,869


Cash and cash equivalents at the end of the

reporting period


2


(38,106

)

86,534



AN LANNTAIR LIMITED


NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2019



1.

RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING

ACTIVITIES


31.3.19


31.3.18



£   


£   



Net income/(expenditure) for the reporting period (as per the

statement of financial activities)


(351,214

)

(138,918

)


Adjustments for:



Depreciation charges


286,585


262,664



(Gain)/losses on investments


(128

)

129



Interest received


(75

)

(19

)


Interest paid


3,656


3,322



Finance costs


5,097


4,735



Dividends received


(45

)

(35

)


(Increase)/decrease in stocks


(113

)

131



Increase in debtors


(41,560

)

(4,394

)


(Decrease)/increase in creditors


(49,985

)

40,488



Net cash provided by (used in) operating activities


(147,782

)

168,103



2.

ANALYSIS OF CASH AND CASH EQUIVALENTS



31.3.19


31.3.18



£   


£   



Cash in hand


2,459


2,871



Notice deposits (less than 3 months)


7,881


126,537



Overdrafts included in bank loans and overdrafts falling due within one year


(48,446

)

(42,874

)


Total cash and cash equivalents


(38,106

)

86,534




AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019



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 with the exception of


investments which are included at market value.



The financial statements are prepared in sterling which is the functional currency of the charity.



The trustees consider that there are no material uncertainties about the charity's ability to continue as a going


concern. The trustees also consider that there are no significant areas of judgements, estimates or key


assumptions that affect items in the accounts.



Preparation of consolidated financial statements



The financial statements contain information about An Lanntair Limited as an individual charity and do not


contain consolidated financial information as the parent of a group.



Consolidated accounts including the results of the parent charitable company and the subsidiary are also


prepared.



Income


All income is recognised in the Statement of Financial Activities once the charity has entitlement to the income,


there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of


income receivable can be measured reliably. Income received in advance is deferred until the criteria for income


recognition are met.



Grants receivable are credited to the Statement of Financial Activities when receivable where entitlement is not


conditional on the delivery of a specific performance by the charity. Grants related to performance and specific


activities are accounted for when the charity has completed the related undertakings. Grants received which are


related to capital expenditure are held within restricted funds and are utilised to fund the future depreciation of


the related capital expenditure.



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. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the


expenditure to which it relates.



Charitable activities


Charitable expenditure comprises those costs incurred by the charity in the delivery of its objects and activities. It


includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary


to support them. The allocation of direct and support costs are analysed in the notes to the financial statements.



Governance costs


Governance costs include those costs associated with meeting the constitutional and statutory requirements of


the charity and include the audit fees and costs linked to the strategic management of the charity.



Allocation and apportionment of costs

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis
designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are
apportioned on an appropriate basis e.g. estimated usage.


AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



1.

ACCOUNTING POLICIES - continued



Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.


Freehold land


- no depreciation on land



Arts Centre


- 4% on cost



Fixtures and fittings


- 20% on cost



Office equipment


- 20% on cost



Tangible fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those
costing below £100 are not capitalised.

Finance costs incurred during the construction phase of the Arts Centre are capitalised and amortised over the
useful life of the asset.


Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.


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.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

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.


Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


Hire purchase and leasing commitments


Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred.



Pension costs and other post-retirement benefits


The charity operates a defined contribution pension scheme. Contributions payable for the year are charged in


the Statement of Financial Activities.



Investments

Investments held as fixed assets are revalued at the balance sheet date and any gains or losses are taken to the
Statement of Financial Activities.

Fixed asset investments in group undertakings are stated at cost less accumulated provision.

2.

DONATIONS AND LEGACIES



31.3.19


31.3.18



£   


£   



Donations


146


2,105



Membership fees


4,021


4,825



4,167


6,930




AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



3.

INVESTMENT INCOME



31.3.19


31.3.18



£   


£   



Listed investments


45


35



Deposit account interest


75


19



120


54




All investment income arises from assets held within the UK.


4.

INCOME FROM CHARITABLE ACTIVITIES



31.3.19


31.3.18




Activity


£   


£   



Events


Arts programme


187,986


189,014



Commission


Arts programme


739


3,394



Service fees


Arts programme


17,177


20,673



Grants


Arts programme


865,275


1,024,406



An Lanntair Records


Arts programme


251


1,052



Employment Allowance


Arts programme


3,000


3,000



1,074,428


1,241,539




AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



4.

INCOME FROM CHARITABLE ACTIVITIES - continued



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


31.3.19


31.3.18



£   


£   



Creative Scotland


403,333


388,334



Creative Scotland - Other


11,125


20,000



Comhairle nan Eilean Siar


128,445


81,850



Comhairle nan Eilean Siar - Education and Outreach


-


1,500



Comhairle nan Eilean Siar - Other


-


3,578



Highlands and Islands Enterprise


4,145


18,827



The Robertson Trust


10,000


10,000



Western Isles NHS Board


409


-



Bord na Gaidhlig


3,650


5,700



Youthlink Scotland


8,798


-



The Gannochy Trust


12,000


12,000



Scottish Natural Heritage


-


29,950



Heritage Lottery Fund


5,890


23,960



Hebridean Celtic Festival


1,000


-



Arts & Business Scotland


7,000


28,000



Big Lottery Fund


43,625


-



Other


-


1,500



Visit Scotland


24,147


39,398



Life Changes Trust


34,739


61,560



Lews Castle College


-


10,000



Stornoway Port Authority


-


10,000



Point & Sandwick Trust


25,000


20,000



Esmee Fairbairn Foundation


25,000


25,000



Dementia Engagement and Empowerment Project


13,142


4,000



LCT - William Grant


-


10,000



British Council


1,878


23,660



The Royal Literary Fund


-


625



The Imperial War Museum


41,132


34,132



Urras Oighreachd Ghabhsainn


-


10,000



Capital Grants


25,601


120,832



Gael Force Group


-


25,000



Tolsta Community Development


-


5,000



Artichoke


1,720


-



Scottish Writers Circle


125


-



Horshader Community Development


10,000


-



Highland Society of London


5,000


-



Luminate


394


-



MG Alba


500


-



Aspiring Communities Fund


17,477


-



865,275


1,024,406



5.

CHARITABLE ACTIVITIES COSTS




Direct costs


Support

costs


Totals



(See note 6)


(See note 7)




£   


£   


£   



Arts programme


1,291,468


138,589


1,430,057




AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



6.

DIRECT COSTS OF CHARITABLE ACTIVITIES



31.3.19


31.3.18



£   


£   



Staff costs


469,452


533,187



Exhibitions


17,705


14,599



Events


282,122


200,991



Cinema rental and costs


55,058


67,038



Education & outreach projects


123,150


114,995



Marketing


10,577


9,969



Repairs and maintenance


36,704


30,654



Legal and professional fees


1,362


1,709



Depreciation


286,585


262,664



Interest payable and similar charges


8,753


8,057



1,291,468


1,243,863


7.

SUPPORT COSTS




Premises


Administration


Governance

costs


Totals



£   


£   


£   


£   



Arts programme


111,108


21,733


5,748


138,589




Support costs, included in the above, are as follows:



31.3.19


31.3.18




Arts

programme


Total activities



£   


£   



Rates and water


5,118


5,777



Insurance


19,120


20,324



Light and heat


48,239


43,192



Telephone, fax and internet


8,720


8,588



Cleaning expenses


29,911


30,384



Operating leases


1,720


1,719



Post, stationery and adverts


4,117


4,849



Recruitment expenses


70


121



Travel expenses


1,229


465



Training costs


1,271


4,861



Computer expenses


6,743


7,885



Equipment hire


3,709


3,774



Sundry expenses


2,874


5,528



Auditors' remuneration


3,600


3,600



Auditors' remuneration for non audit work


2,148


2,381



138,589


143,448



8.

NET INCOME/(EXPENDITURE)



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



31.3.19


31.3.18



£   


£   



Auditors' remuneration


3,600


3,600



Other non-audit services


2,148


2,381



Depreciation - owned assets


286,586


262,663



Other operating leases


1,720


1,719




AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



9.

TRUSTEES' REMUNERATION AND BENEFITS


There were no trustees' remuneration or other benefits for the year ended 31 March 2019 nor for the year ended
31 March 2018 .


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2019 nor for the year ended 31 March 2018 .

10.

STAFF COSTS



31.3.19


31.3.18



£   


£   



Wages and salaries


427,691


481,853



Social security costs


31,348


37,991



Other pension costs


10,413


13,343



469,452


533,187




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



31.3.19


31.3.18



Charitable activities


28


34



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

11.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES




Unrestricted

funds


Restricted

funds


Total

funds



£   


£   


£   



INCOME AND ENDOWMENTS FROM



Donations and legacies

6,930


-


6,930



Charitable activities



Arts programme

1,120,707


120,832


1,241,539




Investment income

54


-


54



Total

1,127,691


120,832


1,248,523





EXPENDITURE ON



Charitable activities



Arts programme

1,125,971


261,340


1,387,311



Total

1,125,971


261,340


1,387,311




Net gains/(losses) on investments

-


( 130

)

( 130

)


NET INCOME/(EXPENDITURE)

1,720


( 140,638

)

( 138,918

)



RECONCILIATION OF FUNDS




Total funds brought forward

92,621


3,159,035


3,251,656




TOTAL FUNDS CARRIED FORWARD

94,341


3,018,397


3,112,738





AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



12.

TANGIBLE FIXED ASSETS



Freehold

land


Arts Centre


Fixtures and

fittings


Office

equipment


Totals



£   


£   


£   


£   


£   



COST



At 1 April 2018


122,386


5,996,187


400,575


86,110


6,605,258



Additions


-


-


9,231


-


9,231



At 31 March 2019


122,386


5,996,187


409,806


86,110


6,614,489




DEPRECIATION



At 1 April 2018


-


3,105,929


231,443


84,515


3,421,887



Charge for year


-


239,847


45,845


894


286,586



At 31 March 2019


-


3,345,776


277,288


85,409


3,708,473




NET BOOK VALUE



At 31 March 2019


122,386


2,650,411


132,518


701


2,906,016



At 31 March 2018


122,386


2,890,258


169,132


1,595


3,183,371


13.

FIXED ASSET INVESTMENTS




Shares in

group

undertakings


Listed

investments


Totals



£   


£   


£   



MARKET VALUE



At 1 April 2018 and 31 March 2019


1


11,463


11,464




PROVISIONS



Provision b/f


-


10,656


10,656



Provision for year


-


(128

)

(128

)


At 31 March 2019


-


10,528


10,528




NET BOOK VALUE



At 31 March 2019


1


935


936



At 31 March 2018


1


807


808




There were no investment assets outside the UK.



The company's investments at the balance sheet date in the share capital of companies include the following:



AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



13.

FIXED ASSET INVESTMENTS - continued



An Lanntair Trading Limited


Nature of business : Bar and catering



%  



Class of share:


holding



Ordinary


100




31.3.19


31.3.18



£   


£   



Aggregate capital and reserves


( 71,144

)

( 52,331

)


(Loss) for the year


( 18,813

)

( 40,732

)


14.

STOCKS



31.3.19


31.3.18



£   


£   



Stocks


557


444



15.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.19


31.3.18



£   


£   



Trade debtors


22,703


11,525



Other debtors


5,739


5,674



Grants receivable


60,641


31,680



VAT


12,351


9,499



Prepayments and accrued income


42


1,538



101,476


59,916



16.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.19


31.3.18



£   


£   



Bank loans and overdrafts (see note 18)


48,446


42,874



Other loans (see note 18)


1,287


1,287



Trade creditors


39,027


98,649



Social security and other taxes


10,701


10,624



Other creditors


17,333


12,246



Accrued expenses


47,691


43,218



164,485


208,898



17.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR



31.3.19


31.3.18



£   


£   



Other loans (see note 18)


93,316


52,311




AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



18.

LOANS



An analysis of the maturity of loans is given below:



31.3.19


31.3.18



£   


£   



Amounts falling due within one year on demand:



Bank overdraft


48,446


42,874



Other loans


1,287


1,287



49,733


44,161




Amounts falling between one and two years:



Other loans - 1-2 years


1,351


1,351




Amounts falling due between two and five years:



Other loans - 2-5 years


4,473


4,473




Amounts falling due in more than five years:



Repayable by instalments:



Other loans more than 5 years by instalments


87,492


46,487



19.

SECURED DEBTS



The following secured debts are included within creditors:



31.3.19


31.3.18



£   


£   



Bank overdraft


48,446


42,874




The bank overdraft is secured by a floating charge over the charity's assets and undertakings.



A standard security over the Louise Carnegie site, Kenneth Street, Stornoway, Isle of Lewis has been granted to


the Scottish Arts Council as part of the funding agreement for the new Arts Centre.



Comhairle nan Eilean Siar have provided loan funds to the charity. The funds advanced in this regard at 31 March


2019 were £94,603 (2018 - £53,598) and this balance is included in Other Loans. An Lanntair Limited has


provided a disposition to Comhairle nan Eilean Siar in respect of 1/5 of the land on which the arts centre is built.


20.

ANALYSIS OF NET ASSETS BETWEEN FUNDS



31.3.19


31.3.18




Unrestricted

funds


Restricted

funds


Total

funds


Total

funds



£   


£   


£   


£   



Fixed assets


53,618


2,852,398


2,906,016


3,183,371



Investments


-


936


936


808



Current assets


112,373


-


112,373


189,768



Current liabilities


( 163,198

)

( 1,287

)

( 164,485

)

( 208,898

)


Long term liabilities


-


(93,316

)

(93,316

)

(52,311

)


2,793


2,758,731


2,761,524


3,112,738



AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



21.

MOVEMENT IN FUNDS




At 1.4.18


Net

movement in

funds


At 31.3.19



£   


£   


£   



Unrestricted funds


General fund

94,294


(91,501

)

2,793



General fund - Equipment and Fittings

47


(47

)

-



94,341


(91,548

)

2,793




Restricted funds


Transition 2020 fund

39


(39

)

-



Capital and development fund

3,018,358


(259,627

)

2,758,731



3,018,397


(259,666

)

2,758,731




TOTAL FUNDS

3,112,738


(351,214

)

2,761,524




Net movement in funds, included in the above are as follows:




Incoming

resources


Resources

expended


Gains and

losses


Movement in

funds



£   


£   


£   


£   



Unrestricted funds


General fund

1,053,114


(1,144,615

)

-


(91,501

)


General fund - Equipment and Fittings

-


(47

)

-


(47

)


1,053,114


( 1,144,662

)

-


(91,548

)



Restricted funds


Capital and development fund

25,601


(285,356

)

128


(259,627

)


Transition 2020 fund

-


(39

)

-


(39

)


25,601


( 285,395

)

128


(259,666

)



TOTAL FUNDS

1,078,715


( 1,430,057

)

128


(351,214

)



AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



21.

MOVEMENT IN FUNDS - continued




Comparatives for movement in funds




At 1.4.17


Net

movement in

funds


At 31.3.18



£   


£   


£   




Unrestricted Funds


General fund

92,395


1,899


94,294



General fund - Equipment and Fittings

226


(179

)

47



92,621


1,720


94,341




Restricted Funds


Transition 2020 fund

115


(76

)

39



Capital and development fund

3,158,920


(140,562

)

3,018,358



3,159,035


(140,638

)

3,018,397




TOTAL FUNDS

3,251,656


(138,918

)

3,112,738



Comparative net movement in funds, included in the above are as follows:




Incoming

resources


Resources

expended


Gains and

losses


Movement in

funds



£   


£   


£   


£   



Unrestricted funds


General fund

1,127,691


(1,125,792

)

-


1,899



General fund - Equipment and Fittings

-


(179

)

-


(179

)


1,127,691


(1,125,971

)

-


1,720




Restricted funds


Capital and development fund

120,832


(261,264

)

(130

)

(140,562

)


Transition 2020 fund

-


(76

)

-


(76

)


120,832


(261,340

)

(130

)

(140,638

)



TOTAL FUNDS

1,248,523


(1,387,311

)

(130

)

(138,918

)



AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



21.

MOVEMENT IN FUNDS - continued



A current year 12 months and prior year 12 months combined position is as follows:




At 1.4.17


Net

movement in

funds


At 31.3.19



£   


£   


£   



Unrestricted funds


General fund

92,395


(89,602

)

2,793



General fund - Equipment and Fittings

226


(226

)

-




Restricted funds


Transition 2020 fund

115


(115

)

-



Capital and development fund

3,158,920


(400,189

)

2,758,731



3,159,035


(400,304

)

2,758,731



TOTAL FUNDS

3,251,656


(490,132

)

2,761,524





A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:




Incoming

resources


Resources

expended


Gains and

losses


Movement in

funds



£   


£   


£   


£   



Unrestricted funds


General fund

2,180,805


(2,270,407

)

-


(89,602

)


General fund - Equipment and Fittings

-


(226

)

-


(226

)



2,180,805


(2,270,633

)

-


(89,828

)



Restricted funds


Capital and development fund

146,433


(546,620

)

(2

)

(400,189

)


Transition 2020 fund

-


(115

)

-


(115

)


146,433


(546,735

)

(2

)

(400,304

)


TOTAL FUNDS

2,327,238


(2,817,368

)

(2

)

(490,132

)


AN LANNTAIR LIMITED


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 MARCH 2019



21.

MOVEMENT IN FUNDS - continued



FUNDS



General fund - Arts Programme


The general fund represents unrestricted funds which the trustees are free to use in accordance with the


charitable objects.



General fund - Special Projects


This represents unrestricted funds designated by the trustees and funds received from public funding agencies


and trusts in respect of specific projects. The funds are utilised to fund the costs relating to the specific projects


and also the future depreciation of any capital expenditure.



General fund - Equipment and Fittings


This represents unrestricted funds designated by the trustees to assist with the purchase of equipment and


fittings. The funds are utilised to fund the future depreciation of the capital expenditure.



Projects fund


This represents grants received from public funding agencies and trusts to assist with specified revenue and


project costs.



Transition 2020 fund


This represents grants received from public funding agencies towards facilitating the development of the charity


through an organisational review to be carried out by a Transition Director on a consultancy basis.



Capital and development fund


This represents the funds raised from various organisations to assist in the building of a new arts centre.  The


recent tranches of funding agreed included a recognition of the costs of establishing the bar and catering


functions.  The support provided by the charity is charged to restricted funds. The funds are also utilised to fund


the future depreciation of the capital expenditure.


22.

PENSION COMMITMENTS



The charity operates a defined contribution pension scheme. At the balance sheet date unpaid contributions of


£1,331 (2018 - £1,071) were due to the scheme and are included in other creditors and accrued expenses.


23.

RELATED PARTY DISCLOSURES



An Lanntair Trading Limited is a wholly owned trading subsidiary of An Lanntair Limited which operates the bar,


cafe, restaurant and book and gift shop within the new arts centre.



During the year ended 31 March 2019 An Lanntair Limited made sales of £39,556 (2018 - £9,843) to An Lanntair


Trading Limited and purchased services of £13,939 (2018 - £6,447) from An Lanntair Trading Limited. The


amount to be paid to An Lanntair Limited by its subsidiary at 31 March 2019 was £4,065 (2018 - £4,059).



An Lanntair Limited has provided a guarantee of £30,000 in respect of the overdraft facilities advanced to An


Lanntair Trading Limited by the Clydesdale Bank.



An Lanntair Trading Limited made no donation to An Lanntair Limited during the year ended 31 March 2019


(2018 - £Nil).


24.

LIMITED BY GUARANTEE



The company is limited by guarantee and has no share capital. The liability of each member in the event of the


company being wound up is restricted to £1.


25.

PERMANENT ENDOWMENTS



The charity does not have any permanent endowments.