**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
## **GLENCOE FOLK MUSEUM**
**A Scottish Charitable Incorporated Organisation (SCIO) (SC002786)**
## **ANNUAL REPORT 2024**
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**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
## _**VISION**_
_We aspire to be the heart of our community, inspiring our local and global visitors to connect with the past by sharing our love of the unique history, culture and environment of our corner of the Highlands._
## _**MISSION**_
_Glencoe Folk Museum chronicles the history, landscape and identity of the Glencoe area. We are a Museum of the people, by the people and for the people – sharing the stories of our local communities and the historical events that shaped them. We will capture imaginations and stimulate creativity through our collections, exhibitions and activities. By exploring our past and striving for a sustainable future, we will inspire people around the world to take pride in their communities, cultures and traditions._
## _**VALUES**_
_Quirky Genuine Inclusive Innovative_
**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
## **Contents**
|Structure, Governance and Management|4|
|---|---|
|Overview|5|
|Volunteers, Museum Assistants, Researchers|6|
|Trustees|
8|
|Training|8|
|Museum Shop|9|
|Social Media, and Media Coverage|10|
|Developing Partnerships|11|
|Learning and Engagement|12|
|Fundraising|14|
|Collection Care and Digitising|14|
|Glencoe Museum Redevelopment|16|
|Plans for the Future|17|
|Funders|18|
|Financial Review|19|
|Trustee Responsibilities|19|
|Independent Examiner's Report|21|
|Statement of Financial Activities|22|
|Balance Sheet|23|
|Notes to the Financial Statements|24|
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**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
## **Glencoe Folk Museum**
**Legal and Administrative information**
**Charity number** SC002786 **Business Address Trustees Accountants** Armstrong Watson LLP Caledonia House 89 Seaward Street Glasgow, G41 1HJ **Bankers** Royal Bank of Scotland 6 High Street Fort William PH33 6AS
**4**
**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
2024 saw the Museum closed to visitors as the Museum entered the Engagement Phase of the NLHF funded £2.2 million redevelopment project.
During this period the Museum worked closely with Peter Drummond Architects (Architects), and Mather and Co (Exhibition Designers) in preparation for the Build Phase of the redevelopment in 2025.
The Museum was gradually emptied and the collection re-located to the Museum’s store. During Doors Open Day in September the Museum opened its doors for a “oneoff” opportunity for visitors to gain an insight of the unique architecture of the buildings and a preview of the plans for the re-development.
As well as planning and preparing for the redevelopment the Museum continued to maintain its presence through social media, a wide range of community engagement activities and fundraising activities throughout the year.
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Glen¢oe Folk Museum
Report of the Trustees for the year ended 31 Ortober 2024
The Trustees were grotefvlfor the commitment, and voluoble contribution of oll the
Staff, volunteer5 and those who hod kindly given their time, to support the Museum
throughout the yeor.
Once again the Museum appreciated the help of the Mundas Men for help with moving
the Funeral Boat.
Voluiite.
As well as helping with the fundraising pub quizzes,
shared his memories in an Oral History interview.
MAS
helped wrth
emptying the Museum, cleaning and wrapping Items in the
collection ready for going into storage, as did retired Museum
professional
Sime kindly transported larger objects in her van.
**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
## _**Staff**_
The Museum’s Curator,
knowledge of and passion
for the Museum has been invaluable in the planning and preparation for the redevelopment. Working with the exhibition designers, Mather and Co was closely involved in identifying items from the collection, developing the new exhibitions and displays. An important part of this work was identifying the conservation needs of the collection and working with researchers to provide information for interpretation panels.
“ _It has been really exciting to start working properly on the exhibitions, content plans and interpretation for the new displays, and to see the designs showing how the redeveloped Museum will look. I have particularly enjoyed working with from Mather&Co to bring all the elements of the exhibitions together, from the placement of objects to the contents of AV, from interactives to graphics panels. I look forward to continuing this in 2025!”_
As Project Director, , has been responsible for the Engagement Phase of the redevelopment working closely with architects and designers to ensure that the project remains on course and its aims are met.
_“2024 has been a long and challenging year for the redevelopment project with, on the face of it, little visible progress. However, behind the scenes there has been great activity with the Museum now standing empty and ready to receive builders, building warrant secured and first stage main contractor procurement completed. The rapidly-developing exhibition designs instil great confidence that the new Museum will be something truly special – a lively, accessible and community-focussed exploration of Glencoe’s history to make our founders proud. In short, good things come to those who wait!”_
the Museum’s Learning and Engagement Officer, has had a successful year delivering a range of events and activities which have allowed the Museum to continue to engage with the local and wider community. continued to work with local schools, community groups, and created three ‘pop-up museums’ which have been hosted by a variety of organisations throughout Lochaber.
“ _2024 has been a busy and successful year for Learning and Engagement, I’ve had the Activity Plan budget to work with to start up lots of new exciting projects! However, the biggest difference is doing almost everything as outreach rather than any events or_
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Glen¢oe Folk Museum
Report of the Trustees for the year ended 31 Ortober 2024
octivities at the museum, as I'd normally do. Highlights include creating the pop-up
musèums ond delivering the otcompanying progromme- this hos ollowed me to visit new
schools and create even more partnership5 Wjth lacol organi5ation5. A5 well 05 Starting
our ¢7fter-school club which ha5 been on the tQ-do-listfor a long while and h(75 created a
stronger partnership between mysett and the teachers in the area. Plus the two pub
quizzes to fundraise for the Museum at Clachaig Inn were also good fun. working with
ur volunteer.-
Trustees
"It's been an exciting year as we built up to closing the museum to empty the buildings as
we prepore for our major redevelopment project. It's been o hertic time ond we con't
thonk our omazing stoff ond voluntéer team enoughfor progressing the programme ond
bringing the vision to life. 2025 is lining up to be pivotolfor the choritY* and the Boord ond
workforce wait with anticipationfor the culmination of more thanfive years of hard work
to bring the museum's next chapter to life."
rrrtininrt A CPD
Visit Scotland Webinars as part of Tourism projert organised by Museums &
Heritage Highland
Museums Heritage Highland Heritage Café meetings: MOTH website. Intangible
Heritage
• Museums Heritage Highland AGM
• Rural Volunteerin8 trainin8 run by Volunteer Organisers Network,
MGS Disposals trainin8
MA Social Media training
• MGS knowledge exchange event about health and wellbeing in museums
MGS knowledge exchange event about working with influencers to market your
museum
MGS blether online event, themed on decolonising the curriculum
Museums Heritage Highland café meeting which had an element on the MOTH
website
Kids in Museums training: creating family friendly exhibitions
MGS Al in Education online blether
GEM training for the Sandford Award in October
**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
- MA & MGS Disposals training
- NMS Integrated Pest Management
- Managing Collections Safely (Human Applications/English Heritage, Dec 2024),
- Inclusion in Action - Inclusion in Practice (EH/Centre4Learning workshop, Dec 2024)
- Various online training modules including Fraud and Corruption, Handling Data Responsibly, and Fire Safety training
## _**The Museum Shop**_
The Museum took the opportunity to generate sales from items unique to the Museum and locally made crafts and produce at various events throughout the year.
2023-2024 Gift Shop Sales: £88.47 at Balla Christmas Fayre, 3rd December 2023 £56 - other staff sales, Nov/Dec 2023 £27 at Museums Heritage Highland event, 23rd March 2024 £22.50 in Slate Booklets at Village Hall event, 27th March 2024 £20 at Oban Gathering, 22nd August 2024 £54 in Slate Booklets for Quarry Centre, 3rd September 2024 £106.60 at Doors Open Day, 14th/15th September 2024 £32.50 at the Dunollie Women's event 2024 TOTAL: £407.07
The redevelopment would provide the Museum with an improved dedicated shop space, which would allow the Museum to extend the range of items available for sale. had been researching local gins and beers, more local crafters, local chutneys & jams, ceramics, and Museum-branded products which would appeal to visitors.
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**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
## _**Social Media and Media Coverage**_
Despite the Museum being closed to visitors, the Museum continued to maintain a high profile both home and abroad through its web page, Facebook, Instagram, Blogs, podcasts, and contributions and articles for local newspapers. The Museum also produced a quarterly Newsletter which it emailed to our subscribers.
wrote regular contributions to the ‘Slatest New’s pamphlet which is delivered to all Ballachulish residents 6 times a year. She penned a different article for each edition including ones on nd his inventions, and another on the Ballachulish Ferry.
Some successful social media posts:
- produced a RSPB big garden birdwatch post, promoting people to take
- part in the RSPB big garden birdwatch, tying it into Bird Club.
- also wrote monthly posts on the MoTH website, to highlight the resources
- available there, and saved the stories on the Museum’s Instagram page. Posts included one on the Museum’s medicine objects and one covering the Glencoe Massacre.
- regularly shares updates on the pop-up museum’s whereabouts and the
- process of travelling between host venues on social media.
- egular posts included one for International Women’s Day. _“The_
- _theme this year was “inspiring inclusion” which was a really relevant one for us, as we could shout about all the female stories that we tell in the Museum”._
- A post about the Ballachulish railway on the anniversary of its closure was one of our most liked and shared on Facebook, and a post about the construction of the Blackwater Dam also did well.
- We also took part in social media campaigns such as Heritage Careers Week, Museum Selfie Day, Museum Week and International Museum Day.
- continued to use social media for fundraising campaigns such as Adopt an
- Object and our Summer Raffle.
Out with social media, wrote a blog post abou for Women’s History Scotland and also contributed information about Corrag for a “Wise Women of Lochaber Trail”, which was being created by the same team who developed the COAST project a few years ago. It would consist of an online Geotourist trail and would signpost visitors towards the Museum and highlight relevant objects or
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Glen¢oe Folk Museum
Report of the Trustees for the year ended 31 Ortober 2024
exhibitions in the Museum.
was interviewed and photographed by the Scot5
Magazine about the Museum and Glencoe historyfor one of
their'Then & NO editions.
During the yearthe Museum worked closely with Lamont Design
on the new website for the Museum which would be launched in
2025.
Ljeveioping Parrnership5
The Museum continued to develop partnerships with a range of community groups and
organisations.
from the Ballachulish Community Council invited the Museum to become
involved with the 'Ballachuli5h 25 event,.
Iso provided Quarry objects for a talk/exhibition/memory gathering event at
the Ballachulish Village Hall.
he Discover Glencoe committee as representatives of the
ho had been a member ofthe committee for some time.
Museum, alongside
West Highland Museum invite
o participate in deliverin8 community outreach
evenin8 sessions alongside Loc
omen's Aid. She did 2 sessions, the first was
general tour and then a mystery objerts game and objert handling session, the second
session was on the Jacobites.
Iso delivered a royal themed workshop alongside
WHM and Alzheimerfs Scotland at Ballachulish Village Hall
assisted the West
Highland Museum with two of their craft5 events during the Easter holidays.
er
from Kinlochlovin. about collaborating for the first temporary
exh ibition in the Comrnunity Gallery, a yearlong project helpin8 the children create
artwork to display, by going into sch¢)ols and workin8 closely with their own group. This
would allow every child in South Lochaber to have an input into this exhibition.
as been frequently visiting Abbeyfield Care Home in Ballachulish, to deliver
themed sessions for residents.
The Museum was again involved with the University of Glasgow Archaeology team. Staff
spoke to the students about the Redevelopment and shared some objects with them so
that they could come up with creative ways of interpretingthem.
hada
site visit and had a go at digging at Achnacon.
li
**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
ravelled to Dunollie Castle and Museum to deliver Object Handling training for their volunteers as part of an NLHF-funded collections project.
The National Trust for Scotland in Glencoe currently had some agricultural tools on loan from the Museum. The NTS were working on interpretation plans for the whole Glen and expressed an interest in developing a stronger partnership with the Museum.
The Museum submitted two objects to be scanned for the Inverness Castle Project – The Ballachulish Goddess and a powder horn from Ballachulish Quarry
attended the MHH Heritage Day in Dingwall on Saturday 23[rd] March.
The Museum had stalls in the Oban Games heritage tent in August, and at the Dunollie Women in Heritage event in September.
## _**Learning and Engagement**_
As well as creating three ‘Pop-Up’ Museums to tour the local area visited a number of local schools and Abbeyfield Care Home. The Museum was opened for Doors Open Days on the 14 and 15 September to allow visitors to view the empty Museum and to raise awareness of the re-development.
The themes for the ‘Pop-Up’ Museum were “The Mountains”, “The Dances” and “Childhood”, with each containing QR codes linking to the Museum’s website. The ‘popup’ Museums toured a variety of locations including schools, the Glencoe Mountain Resort, Woodlands Glencoe Club House, and National Trust for Scotland Visitor Centre. _Linda, Library Assistant at Kinlochleven Library fed-back that people had been interested in the “Childhood” pop-up Museum and some had even come in specifically to see it._
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Glen¢oe Folk Museum
Report of the Trustees for the year ended 31 October 2024
reated two"royal" themed handling boxes for community outreach sessions
with adults.
Eleven participants came along to an object handlin8 and reminiscence session at the
Abbeyfield Care Home. The first was on the theme of the royal family using more
contemporary objects from the collection which went really Well.ontinUed to
visit Abbeyfield for regular sessions throughout 2024, for 5 in totsl, looking at different
time periods. She will continue this into 2025.
participated in an Alzheimer's Scotland and West Highland Museum collaboration
at the Ballachulish Village Hall. Afternoon tea was served, and the Museum brought the
royal themed handling box to promote discussion and memories.
ave an online talk based on her thesis o
elivered an online workshop to Kinlochleven Primary School P5-7 class on The
lassacre of Glencoe.
visited St Columba's P&7 in Fort William to talk to them about the Glencoe
assatre which stirred some ideas for future workshops at the Museum, in classroom
or online.
sited both composite classes at Glencoe Primary School to do sessions inspired
by the "childhood" pop-up Museum: the lower class focused on activities sorting
cards of toys into groups with the help of objects. The upper class did more advanced
card sorting activities and then debated the ethics of buying new toys, and whether
children were better educated in the past, making use of the MOTH website resources.
ha5 now delivered these workshops at Ballachulish and St Bride'5 Primary Schools
too.
While the Childhood pop-up was in Duror Primary. Parris visited for three one-hour
sessions with their 2 pupils, offering more in4epth engagement with the subject.
**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
The Museum’s ‘Wee Glenahulians Club’ (written as Young Curator’s Club in the activity plan) is an after-school club which has 10 members. It takes place at Ballachulish Primary bn School currently and members do a range of activities related to the Museum and its collections. The first project is on birds, in honour of the Bab’s Bird Club delive our founder in the 70s. Highlife Highland Ranger elivered two workshops on bird spotting and watching. This launched in June 2024 and roughly meets once per week during term-time to work on projects. Parris secured Live Literature funding to get authors/writers/illustrators to deliver workshops for the members. This will take place in early 2025.
## _**Fundraising**_
Fundraising Consultant, has continued to support the Museum through a range of fundraising activities including applying for funding from major donors, legacies, community appeals, The Giving Lottery, online raffles, and events.
- Individual Giving raised £790 through Adopt an Object, Buy Me A Coffee, The Giving Lottery, some JustGiving, cash donations, donations under £100
- Community Fundraising raised £437 through Pub quiz, Paypal Giving, and raffles
- Trust and Grants raised £45,400 with a major donation of £43,000 from Scottish Power and a £2,400 conservation grant.
Trustees and staff also raised the profile of the Museum attending local Chamber of Commerce events, the Around Lochaber & Oban in 80 Tables, and The Scottish Power Foundation Awards Ceremony.
## _**Collection care and Conservation**_
The Objects re-located from the Museum and items for the new display were all assessed for their conservation needs, with some receiving careful cleaning before being placed in storage.
With advice from anaged some in-house conservation on the Jacobite pistol and the ‘Lockdown Rainbow Painting’.
The Museum sent the Ballachulish Ferry Waiting sign to the Scottish Conservation Studio, who provided a treatment proposal for the sign of £3000. The Museum planned to apply for funding, but if unsuccessful would display the sign
within the re-developed Museum until funds were raised to cover the conservation costs.
**14**
**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
The coffin boat was undergoing conservation by
at the Windemere
Jetty Museum. The ‘off-ship’ research, the precursor to the interventive conservation, highlighted some interesting findings. The individual planks of the boat were scanned and samples taken before the restoration work finally began.
The Museum received a painting of a scene from the Massacre of Glencoe from donors in Luxembourg. Although in poor condition, it was felt that the painting would be well worth conserving as it would be ideal as the centrepiece for a dramatic display in Our Clans. The Museum commissioned Egan, Matthews and Rose to assess the painting, and was in the process of raising the necessary funds for the conservation.
The conservation of the McCulloch painting had been very successful and would now be appearing as a case study on the Idlewild website.
The aim of this project was to restore “Glencoe” by Horatio McCulloch in order for it to be displayed in the Redeveloped Museum. Though one of the most significant artefacts in the collection, it had been completely inaccessible to visitors for a number of years, due to its poor condition and risk of further deterioration. Restoration and digitizing of the painting would make it accessible to visitors and online.
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**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
_**Digitising the Collection**_ A major task fo fe as transferring the Collection Catalogue from Adlib to eHive, then updating the locations of all the objects decanted from the Museum. 130+ objects were now live on eHive.
The Collections History and Overview was sent to the Collections Trust. The Trust aims to collect these from all Museums around the country and make them available online as part of a new Museum Data Service, allowing people to navigate the nation’s Museum holdings all in one place.
worked closely with rom Mather & Co finalizing the objects for display, a P| updating the object list with images and measurements.
The Museum will have full access to the 3D scans created by the Inverness Castle Project, which we can use online or as part of our displays.
Most of the object photographs taken by last year have been added to their eHive records and made public. It has been so useful having such high-quality images for this, as it makes our public catalogue look fantastic.
will continue to add the professional object photographs to our eHive catalogue.
digitised most of the Museum’s photograph and glass slide collection, and has been selecting images from here for interpretation panels.
## _**Glencoe Museum Redevelopment**_
With the Museum closed to visitors the focus of the Trustees and staff was on finalizing the technical details for the build and exhibitions.
During this period the Museum worked closely with Peter Drummond Architects (Architects), Mather and Co (Exhibition Designers), JC&P (Quantity Surveyor) Project Evaluator), (M&E Engineers), Narros ~~— —_~~ (Structural Engineer), and (Firth Heritage) the NLHF appointed mentor.
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**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
Despite the complex nature of the build, the Museum was granted a ‘Building Warrant’ in October 2024. Work should begin at the start of February 2025, with the Museum opening in October in time for the school holidays.
The characterful design for the interior of the Museum and displays were themed on ‘Our Place’, ‘Our Clans’, ‘Our Roots/Lives’ and would include a ‘Timeline Wall’ and a ‘Crofting Wall’. Catriona worked closely with Mather & Co planning the exhibits, researching and writing the interpretation panels.
## _**Plans for future period**_
_Priorities for 2025_
- To complete the Build phase of the re-development, with the aim of re-opening of the Museum in time for the school holidays in October.
- To continue fundraising activities
- To publicise the re-development and re-opening of the Museum
- To Launch the new Museum’s website.
- To continue to engage with the local and wider community.
- To undertake an operational readiness review prior to reopening to consider resource, capacity and marketing needs for the first 12-18 months post redevelopment.
_**NLHF Approved Project Purposes**_
- Undertake recruitment of a Project Director and Learning Engagement Officer as Project Staff and expert volunteers as required.
- Restore and conserve the B-listed cottages and byre and construct a new build extension to the rear of the site in line with application documentation. Works will include steps to increase physical accessibility on site, introduction of environmental solutions and installation of key facilities such as toilets, storage, retail space and reception area.
- Develop and install new interpretive displays throughout the museum in line with the Interpretation Plan. Displays will be physically and intellectually accessible and multisensory in design. Necessary security and environmental controls will be introduced.
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**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
- Develop digital content with a view to increasing access to the collection and museum experience. This will include further digitisation of the collection, development of organisation website, development of digital education resources, QR based content and an online shop.
- Build capacity through the recruitment of new volunteers to fulfill specific roles supported by a training programme.
- Deliver a minimum of five, six-month trainee placements for local young people.
- Establish a Young Curator’s Club.
- Develop temporary exhibitions through a pop-up exhibition for use during periods of closure and for the Community Exhibition Space in the Byre. Temporary exhibitions will be developed through community input with a minimum of two exhibitions per annum.
- Deliver a varied activity programme in line with the Activity Plan which focuses on involving a wider range of people in heritage.
- Undertake an operational readiness review prior to reopening to consider resource, capacity and marketing needs for the first 12-18 months post redevelopment in recognition of the new scale and quality of visitor offer being provided.
- Evaluate the project in line with the National Lottery Heritage Fund’s requirements including evaluation of how a wider range of people have been involved.
## _**Funders**_
The Redevelopment was only possible through the generosity of our visitors and supporters, as well as support the following funding organisations:
|||
|---|---|
|_National Lottery Heritage Fund_|_Scottish and Southern Energy_|
|_Garfield Weston Foundation_|_Foyle Foundation_|
|_Highland Council_|_Robert Barr’s Charitable Trust_|
|_Museums Galleries Scotland_|_Historic Environment Scotland_|
|_Pilgrim Trust_|_Swire Charitable Trust_|
|_R.F. Charitable Trust_|_Association of Independent Museums_|
|_Hugh Fraser Foundation_|_Foundation Scotland_|
|_Finnis Scott Foundation_|_Idlewild Trust_|
|_Tesco Community Grants_|_Lochaber Community Fundraising Group_|
|_Royal Celtic Society_|_Mickel Fund_|
**18**
**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
## _**Financial review**_
## _Reserves policy_
The charity tries to maintain reserves in order to pay for its annual running costs. The charity tries to generate these unrestricted reserves out of annual surpluses on charitable activities. However, this is not always possible. When unrestricted reserves are falling, transfers are made from the endowment fund.
All our reserves are designated for two purposes:
- for the purpose of paying a Curator to run the Museum,
- to increase the sustainability of the Museum through the redevelopment project.
## _Investments_
The charity employs investment managers to make investment decisions on its behalf. Amounts are currently held in a diversified portfolio. These investments are held as endowment funds. The Museum was active in ensuring that investments would be held in an ethical investment portfolio.
## _**Trustees' responsibilities in relation to the financial statements**_
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting practice).
Law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in a Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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**Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2024**
Armstrong Watson LLP were deemed to be appointed as independent examiner.
Armstrong Watson LLP Caledonia House 89 Seaward Street Glasgow, G41 1HJ
_**This report was approved by the Board of Trustees on and signed on their behalf by**_
**Chair, Glencoe Folk Museum 28 May 2025**
**20**
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLENCOE FOLK MUSEUM SCIO**
I report on the accounts for the year ended 31 October 2024 set out on pages 21 to 33.
## **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. 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 connection with 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.
Armstrong Watson LLP Caledonia House 89 Seaward Street Glasgow G41 1HJ
28 May 2025
**21**
**GLENCOE FOLK MUSEUM SCIO**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024**
|**Unrestricted**
**funds**
**Notes**
**£**
**INCOME FROM**
Donations and legacies
2
**3,082**
**Charitable activities**
5
Charitable activities
**43,201**
Other trading activities
3
**741**
Investment income
4
**-**
Other income
**-**
**Total**
**47,024**
**EXPENDITURE ON**
Raising funds
6
**-**
**Charitable activities**
7
Charitable activities
**89,900**
**Total**
**89,900**
Net gains/(losses) on
investments
**-**
**NET**
**INCOME/(EXPENDITURE)**
**(42,876)**
**Transfers between funds**
17
**2,385**
**Net movement in funds**
**(40,491)**
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
**139,825**
**TOTAL FUNDS CARRIED**
**FORWARD**
**99,334**|**Restricted**
**Endowment**
**funds**
**fund**
**£**
**£**
**-**
**-**
**248,536**
**-**
**-**
**-**
**-**
**2,455**
**-**
**-**
**248,536**
**2,455**
**-**
**1,200**
**179,259**
**-**
**179,259**
**1,200**
**-**
**14,266**
**69,277**
**15,521**
**-**
**(2,385)**
**69,277**
**13,136**
**283,224**
**97,459**
**352,501**
**110,595**|**2024**
**Total**
**funds**
**£**
**3,082**
**291,737**
**741**
**2,455**
**-**
**298,015**
**1,200**
**269,159**
**270,359**
**14,266**
**41,922**
**-**
**41,922**
**520,508**
**562,430**|**2023**
**Total**
**funds**
**£**
3,349
328,459
35,796
3,259
1,062
371,925
1,900
164,560
166,460
(1,485)
203,980
-
203,980
316,528
520,508|
|---|---|---|---|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
**22**
**GLENCOE FOLK MUSEUM SCIO**
## **BALANCE SHEET 31 OCTOBER 2024**
|**Notes**
**FIXED ASSETS**
Tangible assets
12
Investments
13
**CURRENT ASSETS**
Stocks
14
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|**2024**
**£**
**94,258**
**110,596**
**204,854**
**4,429**
**356,297**
**360,726**
**(3,150)**
**357,576**
**562,430**
**562,430**
**99,334**
**352,501**
**110,595**
**562,430**|**2023**
**£**
95,310
97,459
192,769
4,814
326,383
331,197
(3,458)
327,739
520,508
520,508
139,825
283,224
97,459
520,508|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 May 2025 and were signing on its behalf by:
The notes form part of these financial statements
**23**
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are presented in Sterling (£).
## **Going concern**
The Trustees have a reasonable expectation that the charity has adequate resources and reserves to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## **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.
## **Provisions**
Provisions are recognised when the charity has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the charity will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.
## **Judgements**
The charity considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The trustees consider there are no such significant judgements.
## **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.
The value of donated services provided to the charity are recognised at their open market value in the period in which they are receivable as incoming resources, where the benefit to the charity can be reliably measured. An equivalent amount is included as expenditure under the relevant heading in the Statement of Financial Activities.
## **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.
## **Charitable activities**
Costs of charitable activities are incurred on the charity's day to day operations, including support costs and costs relating to the governance of the charity.
**24**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Governance costs**
Consists of the costs of the accounts preparation and other financial services and any expenditure incurred in compliance with the legal requirements of the charity.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 1% on reducing balance Plant and machinery - 25% on reducing balance
Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment losses.
## **Impairment of non-financial assets**
At each reporting date non-financial assets not carried at fair value, like property, plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.
## **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 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, designated and endowment 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.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial instruments**
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Debt instruments that are payable or receivable within one year, typically other debtors and other creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
**25**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Financial instruments**
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
## **2. DONATIONS AND LEGACIES**
|**2.**
**DONATIONS AND LEGACIES**||||
|---|---|---|---|
|Donations
**3.**
**OTHER TRADING ACTIVITIES**
Admissions
**4.**
**INVESTMENT INCOME**
Income from listed investments
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
**Activity**
Grants
Charitable activities
Grants received, included in the above, are as follows:
National Lottery Heritage Fund
Highland Council
Museum Galleries Scotland
High Life Highland
AIM Coffin Boat
Garfield Weston Foundation
Swire Foundation
SSE
Other grants
Robert Barr's Charitable Trust|**2024**
**£**
**3,082**
**2024**
**£**
**741**
**2024**
**£**
**2,455**
**2024**
**£**
**291,737**
**2024**
**£**
**138,230**
**33,793**
**31,096**
**9,408**
**2,500**
**-**
**-**
**43,000**
**8,710**
**25,000**
**291,737**|**2023**
**£**
3,349
**2023**
**£**
35,796
**2023**
**£**
3,259
**2023**
**£**
328,459|**2023**
**£**
3,349
**2023**
**£**
35,796|
|||**2023**
**£**
17,046
-
12,500
14,164
-
100,000
20,000
154,000
10,749
-||
|||328,459||
**26**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **6. RAISING FUNDS**
|**Investment management costs**
Portfolio management
**7.**
**CHARITABLE ACTIVITIES COSTS**
Charitable activities
**8.**
**SUPPORT COSTS**
Charitable activities
Support costs, included in the above, are as follows:
Independent Examiner's fee
Legal and professional fees|**2024**
**2023**
**£**
**£**
**1,200**
1,900
**Support**
**Direct**
**costs (see**
**Costs**
**note 8)**
**Totals**
**£**
**£**
**£**
**257,424**
**11,735**
**269,159**
**Governance**
**costs**
**£**
**11,735**
**2024**
**2023**
**Charitable**
**Total**
**activities**
**activities**
**£**
**£**
**4,600**
**1,890**
**7,135**
**5,477**
**11,735**
**7,367**|
|---|---|
**9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.
**27**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|**2024**
**£**
**96,997**
**4,654**
**2,356**
**104,007**|**2023**
**£**
91,428
8,811
2,172|
|---|---|---|
|||102,411|
The average monthly number of employees during the year was as follows:
|**2024**
Administration
**5**
No employees received emoluments in excess of £60,000.
**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**Unrestricted**
**Restricted**
**Endowment**
**funds**
**funds**
**fund**
**£**
**£**
**£**
**INCOME FROM**
Donations and legacies
3,349
-
-
**Charitable activities**
Charitable activities
14,164
314,295
-
Other trading activities
35,796
-
-
Investment income
-
-
3,259
Other income
1,062
-
-
**Total**
54,371
314,295
3,259
**EXPENDITURE ON**
Raising funds
-
-
1,900
**Charitable activities**
Charitable activities
94,482
70,078
-
**Total**
94,482
70,078
1,900
Net gains/(losses) on investments
-
-
(1,485)
**NET INCOME/(EXPENDITURE)**
(40,111)
244,217
(126)
**Transfers between funds**
81,484
16,848
(98,332)
**Net movement in funds**
41,373
261,065
(98,458)
**RECONCILIATION OF FUNDS**
Total funds brought forward
98,452
22,159
195,917
**TOTAL FUNDS CARRIED FORWARD**
139,825
283,224
97,459|**2023**
6
**Total**
**funds**
**£**
3,349
328,459
35,796
3,259
1,062
371,925
1,900
164,560
166,460
(1,485)
203,980
-
203,980
316,528
520,508|
|---|---|
**28**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **12. TANGIBLE FIXED ASSETS**
|**Freehold**
**Plant and**
**property**
**machinery**
**£**
**£**
**COST**
At 1 November 2023 and 31 October 2024
**115,995**
**11,573**
**DEPRECIATION**
At 1 November 2023
**21,153**
**11,105**
Charge for year
**935**
**117**
At 31 October 2024
**22,088**
**11,222**
**NET BOOK VALUE**
At 31 October 2024
**93,907**
**351**
At 31 October 2023
94,842
468
**13.**
**FIXED ASSET INVESTMENTS**
**Cash and**
**Listed**
**settlements**
**investments**
**pending**
**£**
**£**
**MARKET VALUE**
At 1 November 2023
**95,792**
**1,667**
Additions
**19,163**
**(1,015)**
Disposals
**(16,938)**
**-**
Revaluations
**11,927**
**-**
At 31 October 2024
**109,944**
**652**
**NET BOOK VALUE**
At 31 October 2024
**109,944**
**652**
At 31 October 2023
95,792
1,667|**Totals**
**£**
**127,568**
**32,258**
**1,052**
**33,310**
**94,258**
95,310
**Totals**
**£**
**97,459**
**18,148**
**(16,938)**
**11,927**
**110,596**
**110,596**
97,459|
|---|---|
There were no investment assets outside the UK.
The following investments held in individual entities at 31 October 2024 exceed 5% of the portfolio value:
||**Holding**|**£**|
|---|---|---|
|Vanguard Funds S&P 500 Fund|**14.74%**|16,303|
|Brown Advisory Sustainable Growth Funds|**8.74%**|9,661|
|Fidelity Income Funds|**8.56%**|9,470|
|IFSL Evenlode Investment Funds|**7.96%**|8,806|
|Royal London Sustainable Funds|**6.73%**|7,446|
|Blackrock Funds Managers Ltd|**5.35%**|5,920|
The investments have a fair value of £109,944 (2023: £95,792) and a historical cost of £99,551 (2023: £97,327).
**29**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **14. STOCKS**
|Stocks
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors
**16.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Unrestricted**
**Restricted**
**Endowment**
**funds**
**funds**
**fund**
**£**
**£**
**£**
Fixed assets
**94,258**
**-**
**-**
Investments
**110,596**
**-**
**-**
Current assets
**(102,370)**
**352,501**
**110,595**
Current liabilities
**(3,150)**
**-**
**-**
**99,334**
**352,501**
**110,595**
**17.**
**MOVEMENT IN FUNDS**
**Net**
**At**
**movement**
**1/11/23**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
**44,983**
**(41,941)**
Designated fund
**94,842**
**(935)**
**139,825**
**(42,876)**
**Restricted funds**
Fixed asset funds
**125**
**(31)**
Clan Donald Chart Digitisation
**23**
**-**
Social Enterprise Scotland
**161**
**-**
AIM Coffin Boat
**2,367**
**2,429**
Development Project
**280,548**
**66,879**
**283,224**
**69,277**
**Endowment funds**
Endowment fund
**97,459**
**15,521**
**TOTAL FUNDS**
**520,508**
**41,922**|**2024**
**£**
**4,429**
**2024**
**£**
**-**
**3,150**
**3,150**
**2024**
**Total**
**funds**
**£**
**94,258**
**110,596**
**360,726**
**(3,150)**
**562,430**
**Transfers**
**between**
**funds**
**£**
**2,385**
**-**
**2,385**
**-**
**-**
**-**
**-**
**-**
**-**
**(2,385)**
**-**|**2023**
**£**
4,814
**2023**
**£**
1,908
1,550
3,458
**2023**
**Total**
**funds**
**£**
95,310
97,459
331,197
(3,458)
520,508
**At**
**31/10/24**
**£**
**5,427**
**93,907**
**99,334**
**94**
**23**
**161**
**4,796**
**347,427**
**352,501**
**110,595**
**562,430**|
|---|---|---|
**30**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **17. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated fund
**Restricted funds**
Fixed asset funds
Museum Galleries Scotland
National Lottery Heritage Fund
AIM Coffin Boat
Development Project
**Endowment funds**
Endowment fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
**47,024**
**-**
**47,024**
**-**
**31,096**
**138,230**
**2,500**
**76,710**
**248,536**
**2,455**
**298,015**|**Resources**
**expended**
**£**
**(88,965)**
**(935)**
**(89,900)**
**(31)**
**(31,096)**
**(138,230)**
**(71)**
**(9,831)**
**(179,259)**
**(1,200)**
**(270,359)**|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
**-**
**(41,941)**
**-**
**(935)**
**-**
**(42,876)**
**-**
**(31)**
**-**
**-**
**-**
**-**
**-**
**2,429**
**-**
**66,879**
**-**
**69,277**
**14,266**
**15,521**
**14,266**
**41,922**|
|---|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Designated fund
**Restricted funds**
Fixed asset funds
Museum Galleries Scotland
Clan Donald Chart Digitisation
National Lottery Heritage Fund
Social Enterprise Scotland
AIM Coffin Boat
Development Project
**Endowment funds**
Endowment fund
**TOTAL FUNDS**|**At**
**1/11/22**
**£**
2,655
95,797
98,452
167
19,373
23
-
161
2,435
-
22,159
195,917
316,528|**Net**
**movement**
**in funds**
**£**
(39,156)
(955)
(40,111)
(42)
(24,007)
-
(12,214)
-
(68)
280,548
244,217
(126)
203,980|**Transfers**
**between**
**funds**
**£**
81,484
-
81,484
-
4,634
-
12,214
-
-
-
16,848
(98,332)
-|**At**
**31/10/23**
**£**
44,983
94,842|
|---|---|---|---|---|
|||||139,825
125
-
23
-
161
2,367
280,548|
|||||283,224
97,459|
|||||520,508|
**31**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **17. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated fund
**Restricted funds**
Fixed asset funds
Museum Galleries Scotland
National Lottery Heritage Fund
AIM Coffin Boat
Development Project
**Endowment funds**
Endowment fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
54,371
-
54,371
-
12,500
17,046
-
284,749
314,295
3,259
371,925|**Resources**
**expended**
**£**
(93,527)
(955)
(94,482)
(42)
(36,507)
(29,260)
(68)
(4,201)
(70,078)
(1,900)
(166,460)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
-
(39,156)
-
(955)
-
(40,111)
-
(42)
-
(24,007)
-
(12,214)
-
(68)
-
280,548
-
244,217
(1,485)
(126)
(1,485)
203,980|
|---|---|---|---|
## **General fund**
The general funds are available for use at the discretion of the Trustees in accordance with the charity's objectives. It is maintained at a level sufficient to allow the organisation time to adjust to changing financial circumstances.
## **Designated fund**
The designated fund represents property purchased to house exhibits not on display, stock of books and pamphlets etc, for resale and to provide accommodation for the Curator.
## **Fixed assets fund**
Grants were received from Museum Galleries Scotland in 2013 and 2015 towards the cost of audio and computer equipment. This fund represents the net book value of the respective assets.
## **Museum Galleries Scotland**
Grants received for furtherance of the charity's objectives.
## **Clan Donald Chart Digitisation**
A grant received for chart digitisation.
## **National Lottery Heritage Fund**
A restricted grant for the SCIO's major capital project.
## **Social Enterprise Scotland**
Grants received to assist with the charity shop.
## **AIM Coffin Boat**
Grants received for the conservation and building of a cradle to support the coffin boat.
## **Development Project**
Grants received for the ongoing development project being carried out.
## **Endowment fund**
**32**
continued...
**GLENCOE FOLK MUSEUM SCIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2024**
## **17. MOVEMENT IN FUNDS - continued**
The fund represents the legacy from Miss Fairweather. These reserves are invested in stocks and shares to produce income for the general running of the Museum. The investment income is initially credited to the endowment fund and then transferred to general funds.
## **18. EMPLOYEE BENEFIT OBLIGATIONS**
The charity operates a defined contribution pension scheme, the assets of which are held in a separate fund. The charity also makes contributions to the private pension schemes of certain employees. The amount paid in the year and charged to the Statement of Financial Activities amounted to £2,356 (2023 - £2,172).
## **19. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 October 2024.
**33**