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2025-10-31-accounts

Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

A Scottish Charitable Incorporated Organisation (SCIO) (SC002786)

ANNUAL REPORT 2025

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

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

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Contents

Structure, Governance and Management
4		 Structure, Governance and Management
4
Overview
5
Volunteers, Gaelic Consultants, Museum
Studies Student, Staff
6
Trustees 7
Training
8
Museum Shop
9
Social Media, and Media Coverage
10
Developing Partnerships
11
Learning and Engagement
12
Fundraising
15
Collection Care and Digitising
16
Glencoe Museum Redevelopment
18
Plans for the Future
18
Funders
20
Financial Review
21
Trustee Responsibilities
21

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Glencoe Folk Museum

Legal and Administrative information

Charity number
SC002786		 Charity number
SC002786
Business Address
Glencoe Folk Museum
Glencoe
North Argyll
PA49 4HS
Trustees
Emma Halford-Forbes

Alison Clark
Rhona Paterson

Ainize Moschynski
Morag Watt
Lizzie Hazelhurst
Eleanor Matthews
Paula Watson
Tony Simons
Georgi Chichkov
Laura MacCalman (resigned Dec 2025)
Accountants
Armstrong Watson LLP
Caledonia House
89 Seaward Street
Glasgow
G41 1HJ
Bankers
Royal Bank of Scotland
6 High Street
Fort William
PH33 6AS

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

2025 saw the Museum finalising details of the NLHF funded £3 million re-development project in preparation for the Build Phase of the redevelopment.

The re-development of the Museum will 

     - Restore and protect our unique thatched cottages.

  - Create a fully accessible entrance and exhibition space.

During this period the Museum worked closely with Peter Drummond Architects (Architects), and Mather and Co (Exhibition Designers).

Fundraising continued throughout the year to enable the Museum to combat rising costs, inflation, and unavoidable delays, and deliver the full vision for the museum .

In addition to planning and preparing for the redevelopment, the Museum continued to maintain its presence through active engagement on social media and by organizing and participating in a wide range of community activities.

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

The Trustees were grateful for the significant contributions made by all staff members, volunteers, and individuals who generously gave their time to support the Museum over the past year.

Volunteers – Liz Law and Jennifer Bodde. Our volunteers were a great help to the Learning and Engagement Officer this year, assisting with events, collecting raffle prizes, putting up posters, and spreading the word about the Museum.

A special mention goes to the character volunteers who enthusiastically took on roles for the Murder Mystery Nights in November 2024 - Charlotte Parkin, Karl Griffin, Inna Griffin and Sairah - and October 2025 - Karl and Inna Griffin again, Pamela Griffin, Ann Winning and Andrew Baxter.

Gaelic Consultants – Ceit Langhorne and Eilidh Sykes

Museum Studies Student – Martha McTear

Oral Histories

● Harriet Eadie

Staff

As well as her responsibilities as Museum Curator, Catriona Davidson has applied her extensive knowledge of the collection to collaborate with Mather and Co. in developing an engaging exhibition space that communicates the area's history. She has supervised conservation initiatives and worked with the University of Glasgow Archaeology Team who discovered the coin hoard in Glencoe, which offers valuable insight into historical life in the glen. Additionally, Catriona shared her expertise with colleagues in the museum sector and reached wider audiences through social media and interviews.

“I’ve really enjoyed writing the interpretation for the new exhibitions this year, choosing photographs from our collection, and working with Mather & Co to finalise the designs and graphics. I’m excited to see these finally take physical shape next year when we install our objects!”

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Project Director, David Rounce has played a pivotal role over the past year in preparing the Museum's redevelopment to move into Build Phase, despite the considerable challenges presented by the historical structure of the building and its boundaries. In addition to coordinating with architects, designers, builders, and contractors, David has maintained a strong commitment to fostering extensive public engagement with the project.

“The project has weathered many challenges this year, particularly an extended procurement process to find a building contractor, and significantly escalated costs. The team have risen magnificently to meet these challenges and we end the year on the cusp of building work moving ahead”

Parris Joyce, the Museum’s Learning and Engagement Officer, initiated and supported a variety of events and activities to maintain the Museum’s connections with both the local and broader communities. Building on the success of the Museum’s ‘pop-up’ displays, Parris expanded her educational initiatives by engaging schoolchildren through online digital classroom projects.

The Trustees expressed their gratitude for her enthusiasm and dedication in promoting the museum, and extended their best wishes for her future career at the conclusion of her contract in October.

Katie Mullen, the Museum’s Fundraising Consultant, has remained a steadfast supporter of the Museum’s redevelopment efforts. Throughout the year, she worked in close collaboration with Project Director David Rounce and the Trustees, focusing on securing the necessary funding to move the redevelopment project forward. Katie’s fundraising activities encompassed a variety of approaches, including submitting applications for support from major donors and legacy sources, organizing community appeals, and leveraging platforms such as The Giving Lottery. In addition to these efforts, she contributed to the Museum’s events program by producing and presenting a highly successful Murder Mystery Evening.

Trustees

Emma Halford-Forbes (Chair), Rhona Paterson (Secretary), Georgi Chichkov (Treasurer), Alison Clark, Ainize Moschynski, Morag Watt, Lizzie Hazelhurst, Paula Watson, Eleanor Matthews, Tony Simon and Laura MacCalman (resigned Dec 2025).

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Emma Halford-Forbes and Ainize Moschynski gave a talk at the Scottish Museums Federation conference in Dundee on ‘Community & Cruck Cottages, Developing Glencoe Folk Museum for sustainability.’

Training & CPD

Visit to Kilmartin Museum, National Museum of Scotland and Dunfermline Carnegie Library & Galleries

Museum Shops Knowledge Exchange

First Aid Training

The Art of Digital Storytelling

Online Museum Next Conference

Coins training workshop with the Archaeologist team from UoG

‘Historical collections for literacy outcomes’

Visit to Kilmartin Museum

NTS opening ceremony event for the Orbital Track

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

-Delivered presentation on Planning Permission at MGS Knowledge Exchange event.

Attended ‘Visitors With Dementia’ training delivered by Groam House

The Museum Shop

With the Museum closed for the season, staff made use of the opportunity to sell items from the shop at various events throughout the year. By participating in these events, the Museum continued to engage the community and generate income, despite the lack of regular visitor traffic.

Gift Shop Sales 2024/2025: £51.49 at Heritage Day, 26th April 2025 £194.68 at Heritage Weekend, 29th August-1st September 2025 TOTAL: £246.17

The planned re-development of the Museum includes the creation of an improved, dedicated shop space, which will act as an extension of the Museum visit, creating connections to our collection and local community and inviting visitors to take a piece of the Glencoe story home with them. This enhancement will enable the Museum to broaden its retail offerings and extend the range of items available for sale.

The Curator had already engaged with a number of local artists, crafters and creatives who are enthusiastic about seeing their stock in the new Museum gift shop, and will complement our current offering of bespoke, locally-made gifts and souvenirs.

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Social Media, and Media Coverage

Although the Museum was temporarily closed to visitors, it ensured continued engagement and awareness both locally and abroad. The Museum made effective use of its digital channels, including its website and social media platforms such as Facebook and Instagram. In addition to regular updates and posts, staff contributed to blogs and podcasts to share stories and developments with a broader audience. Contributions to local and national newspapers helped maintain a strong connection with the surrounding community. The Museum featured in an article in the Scots Magazine October edition, which included an interview with the Curator and mentioned the Museum Redevelopment and opening in 2026. BBC Radio Scotland’s “What’s On” segment featured the Museum’s Heritage Day, which took place at The Ballachulish Village Hall in April.

The Museum team contributed a regular “Beneath the Thatch” feature to the local Ballachulish newsletter ‘Slatest News’, giving behind-the-scenes snippets and showcasing objects and photographs from the collection.

To further support communication and engagement, the Museum published a quarterly e-Newsletter. This ensured that

audiences remained informed about ongoing activities, events, and other news during the closure period. As of October 2025, there are 162 newsletter subscribers.

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Developing Partnerships

The Museum continued to develop partnerships with a range of community groups and organisations including the NTS.

The Museum Staff were members of the Discover Glencoe committee as representatives of the Museum, and attended meetings with the Glencoe Community Council.

Following the completion of digitally archiving of Dr Grant’s photographs taken in Skye, the Curator provided the Skye & Lochalsh Archive Centre with a direct link to access the digital collection. The Archive Centre has since been actively sharing these images with a wider audience through regular posts on their Facebook page.

The Museum also contributed to the ‘Ballachulish 25’ event hosted by the Ballachulish Community Council by providing information on Dr Grant for their exhibition thus helping to increase public engagement and appreciation of Dr. Grant’s work within the local community and beyond.

The Museum was again involved with the University of Glasgow Archaeology team. In July, representatives from the Museum participated in a Coin Hoard workshop organised by the University. Although adverse weather conditions meant that the coin hoard itself could not be brought to the workshop, attendees were still able to examine a variety of other artefacts unearthed during this year's and previous excavations. These included additional coins, pottery shards, clay pipes, and knife handles, offering valuable insight into the region's archaeological heritage. During the workshop, Jesper, a numismatist from the Hunterian Museum, provided expert commentary and analysis on the coins, enriching participants' understanding of their historical significance and context. In addition to these collaborative activities, the Museum was successful in acquiring the Ballachulish Bronze Age axe head from Treasure Trove. The University of Glasgow Archaeology team also gave their support to the Museum's application to secure the coin hoard and local finds for its collection.

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

The Museum continued its partnership with the University of Glasgow by offering student work placements as part of the MSc Museum Studies course. This year Martha McTear, a museum studies student, was supported in a digital placement as part of her work placement module between January-April 2025. Martha’s placement was mostly centred around the project of creating new ‘Explorer Backpacks’, to support visiting families and groups, including any ASN individuals - that aim to make the museum more fun and comfortable to visit.

‘I have absolutely loved completing both this project and my placement more widely with GFM and cannot thank the team enough for all their help and support. I look forward to keeping up with what is going on here and cannot wait to see how the redeveloped museum looks when it is complete!’ Martha McTear

Learning and Engagement

The Museum continued to maintain a strong presence in the local community and a wider audience through its comprehensive ‘Learning and Engagement’ program, which was spearheaded by Parris Joyce with the invaluable support of staff, volunteers, and Trustees. This initiative encompassed a variety of activities and outreach efforts designed to connect with diverse audiences and encourage greater involvement with the Museum’s collections and projects.

This year, the Learning and Engagement Officer developed, delivered, and evaluated a series of new digital workshops tailored for schools. These workshops provided the Museum with a valuable opportunity to engage with pupils and teachers from a wide geographical area, extending the Museum’s reach far beyond the local community. As a result, schools from Glasgow, Edinburgh, Aberdeenshire, Argyllshire, Fife, the Isle of Skye,

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Inverness, and the wider northern Highlands were able to participate in these interactive sessions.

The workshops focused on several significant historical and cultural themes relevant to the local area and Scottish history. Key topics included the ‘Glencoe Massacre’, the ‘Ballachulish Escape, a WW2 Story’, and the ‘Ballachulish Figure’. In addition to the delivery of these workshops, resources have been created and organised to support future sessions, ensuring that the Museum can continue to offer high-quality digital learning experiences to schools across the country.

One teacher said “Just to say many thanks for such a great input! An example of what other establishments could be involved in to increase children's awareness of historical events and life in the past in Scotland", whilst another said "Pupils thoroughly enjoyed the whole workshop experience, each section capturing their interest. Parris had a great manner with children." Pupils feedback and some highlights were "I most enjoyed the tableau, It was really fun being the characters- even for just a frozen scene" and "I really enjoyed the fact that it wasn’t just telling us what happened, and that

The Museum’s ‘Pop-Ups’ “The Mountains”, “The Dances” and “Childhood”, each containing QR codes linking to the Museum’s web-site had been well received in locations across the area including schools, and libraries.

The Museum hosted two highly successful online author talks, further enriching its educational and cultural offerings. The first event featured Susan Fletcher, who discussed her novel ‘Witch Light’. This novel weaves together the story of Corrag and the historical events of the Glencoe Massacre, artfully blending elements of folklore and history. Fletcher’s lyrical storytelling and evocative descriptions brought the landscape and its past to life for attendees, providing a unique perspective on the region’s heritage. The second talk welcomed Douglas Skelton, who presented his crime novel ‘A Rattle of Bones’. Skelton’s work immerses readers in the modern-day Scottish Highlands while drawing inspiration from the infamous Appin Murder of 1752. Through his narrative, Skelton skillfully connects contemporary themes with significant historical events, offering participants an engaging exploration of crime, history, and place.

The Museum’s ‘Wee Glenahulians’ After School Club continued to enjoy strong popularity among local children. These initiatives provided a welcoming environment for

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

young people to learn about the Museum’s collections, develop new skills, and foster a deeper appreciation of their local heritage.

In addition to the regular clubs, the Museum offered a variety of child-focused activities throughout the year. Highlights included an Easter-themed art workshop, which encouraged creativity and engagement with cultural themes, as well as a special evening of activities designed for Beavers and Scouts. These events supported the Museum’s commitment to community involvement and created memorable experiences for children from the local area.

BBC Radio Scotland’s “What’s On” segment featured the Museum’s Heritage Day, which took place at The Ballachulish Village Hall in April. The broadcast highlighted the range of free activities available, including the event itself, and helped to promote both the Museum and its ongoing redevelopment efforts.

During Heritage Day, the Museum extended an invitation to local artists, who contributed to the occasion by providing eight different craft demonstrations. These artists also took the opportunity to discuss their creative processes and share insights into their work with attendees. This collaborative effort not only showcased local talent but also fostered engagement within the community and further raised awareness of the Museum’s redevelopment project.

Following the success of the Heritage Day in April, the Museum organised a Heritage Open Weekend in September, which welcomed both local residents and visitors to the area. Over the course of four days, for three hours each day, the event saw a total of 79 adults and 7 children attending. This mixture of locals and tourists contributed to a vibrant and engaging atmosphere. Through a combination of craft activities and meaningful conversations with attendees, the Museum raised a total of £457.18. Additionally, these interactions inspired further generosity, resulting in an extra £250 in donations specifically directed towards the Museum’s re-development fund.

Held over three weeks, the Museum delivered a series of engaging Weaving Workshops in collaboration with Nearly Wild Weaving. These sessions provided a wonderful opportunity for participants to explore their creativity. Inspiration

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

was drawn from the local landscape, the rich autumnal palette, the nearby sea, and the Museum itself.

The Museum held two Murder Mystery Nights during this period, one in November 2024 and a second in October 2025. These were written by Katie Mullen, our Fundraising Consultant, and organised by the Learning and Engagement Officer, and were a huge success, engaging attendees and generating additional funds and support for the Museum’s initiatives.

Fundraising

Fundraising has remained a central component in ensuring the successful redevelopment of the Museum. To date the museum has already secured £2.8 million from funders including the National Heritage Lottery Fund, Museums Galleries Scotland, Highland Council, SSE and Garfield Weston, and has obtained planning permission and listed building consent positioning the Museum well for the next stages of development. Despite these achievements, the project has faced considerable challenges that have increased the need for additional funding. Factors such as inflation, rising costs of materials and labor, delays in planning, complexities related to public procurement, and the unique logistical difficulties of construction in the Highland location have all contributed to the financial pressures on the redevelopment. As a result, continued fundraising efforts throughout the year were necessary to ensure the completion of the Museum’s ambitious plans.

Katie Mullen, 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, and events.

“On behalf of the Museum, I would like to say a huge thank you to all of our funders, and to everyone who has supported us at events, through The Giving Lottery, the Adopt an Object scheme and through our fundraising appeals. Your support is vital in securing the future of our Museum” - Katie

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

In September the Museum also engaged Bernadette Mooney (PR Consultant) to support its fundraising goal of raising £100,000 in public donations by the end of the six-month appeal period.

Renowned actor Brian Cox lent his support to the Museum’s fundraising appeal. His endorsement was featured on local television and in various media outlets, helping to raise awareness of the Museum’s redevelopment efforts and encouraging community engagement with the ongoing campaign.

Brian Cox said: “Glencoe is one of the most extraordinary places in Scotland – its landscapes, its stories, and its history are known around the world. No other place in the world has a collection like the one found at Glencoe Folk Museum but it urgently needs your support.

“£100,000 needs to be raised in the next six months for essential restoration work to be completed so it can reopen in 2026. Glencoe Folk Museum is about more than history. It’s about identity, community, and pride. We need your support to ensure this incredible story continues to be told for generations to come.”

Collection care and Conservation

The coffin boat was one of three vessels that were historically used in the local area to transport bodies to the Clan Burial Island, Eilean Munde, situated in Loch Leven. Recognizing its cultural and historical importance, the Museum initiated a conservation project to preserve this significant artifact.

The conservation work is being carried out by Stephen Beresford at the Windemere Jetty Museum. The project began with the careful reconstruction and conservation of the boat, focusing on stabilizing its structure and ensuring its long-term preservation. As part of the process, designs have been finalized for the fabrication of the rigging, an essential component that will allow the coffin boat to be displayed effectively within the redeveloped Museum buildings.

A detailed analysis of the layers of paint on the coffin boat by Lincoln Conservation revealed that the earliest paint on the boat was a yellow oil layer (with yellow ochre pigment) over a grey-black primer, showing the interior was originally all yellow before later coats of grey were applied.

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

The Museum received a painting depicting a scene from the Massacre of Glencoe, generously donated by supporters from Luxembourg. Despite the artwork arriving in a poor state of preservation, it was recognized as an ideal centerpiece for a future display, owing to its historical significance and evocative subject matter.

Throughout the year Egan, Matthews and Rose, expert conservators, dedicated significant effort to restoring the painting. Their meticulous process included cleaning, filling areas of loss, and carefully retouching the surface. The results have been dramatic, transforming the piece and enhancing its visual impact.

Henry Matthews, representing Egan, Matthews & Rose, noted that the painting has captivated all visitors to the studio, drawing considerable attention and admiration for both its artistry and the restoration work undertaken.

Digitising the Collection

The Museum’s 2D and photographic collection has been digitised to archive standards ready for use in the redeveloped exhibition graphics and for online content / future merchandising opportunities.

240 objects and photographs from the Museum’s collection are now accessible to the public online through eHive.

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Glencoe Museum Redevelopment

With all the necessary planning permission and listed building consent this year the focus was on finalising details of the NLHF funded £3 million re-development project in preparation for the Build Phase of the redevelopment.

During this period the Museum worked closely with Peter Drummond Architects (Architects), Mather and Co (Exhibition Designers), David MacDonald of JC&P (Quantity Surveyor) Eric Hildrew (Project Evaluator), Max Fordham (M&E Engineers), Narros (Structural Engineer), and Jane Robertson (Firth Heritage) the NLHF appointed mentor.

Factors such as inflation, rising costs of materials and labor, delays in planning, complexities related to public procurement, and the unique logistical difficulties of construction in the Highland location all contributed to the financial pressures on the redevelopment with the Total Project Costs reaching £2,984,159.

Alongside fundraising to address its funding gap, the Museum applied to HMRC for VAT exemption to further support financial sustainability.

The Build Phase commenced in November 2025 with local residents invited to visit the Museum to meet representatives from Taylor and Fraser, the construction firm responsible for the upcoming redevelopment work. The event provided an opportunity for the community to learn more about the project, ask questions, and build relationships with the team leading the construction phase.

Looking ahead, the Building Phase of the redevelopment is scheduled to commence with Groundworks set to begin at the end of December, followed by the start of building work anticipated in early January 2026. Rathmell – archaeologists, would also carry out research of the site at this time. The fit out of the Museum, and heather thatching will take place over the summer months. These significant milestones mark the transition from planning to active construction and represent important steps toward the realization of the Museum’s redevelopment goals.

Plans for future period Priorities for 2026

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

NLHF Approved Project Purposes

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

Funders.

The Redevelopment is 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
Scottish Power
Miss Mary Dunlop Murdoch Andrew
Charitable Trust		 Mickel Fund
William Syson Foundation Tunnock’s

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

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:

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:

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.

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Glencoe Folk Museum Report of the Trustees for the year ended 31 October 2025

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.

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

Emma Halford-Forbes Chair, Glencoe Folk Museum 22nd February 2026 13 July 2026

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GLENCOE FOLK MUSEUM SCIO

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2025

Independent examiner's report to the Trustees of Glencoe Folk Museum SCIO

I report on the accounts of the charity for the year ended 31 October 2025 which are set out on pages 24 to 38.

Respective responsibilities of Trustees and examiner

The charity's trustees are responsibile for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 ('the Act') and the Charities Accounts (Scotland) Regulation 2006 ('the Accounts Regulations'). The 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 financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with regulation 11 of the Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 44(1)(a) of the Act and regulation 4 of the Accounts Regulations; and

  3. to prepare financial statements which accord with the accounting records, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) and in other respects comply with regulation 8 of the Accounts Regulations

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable proper understanding of the financial statements to be reached.

Signed: Gavin Curr FCCA

Dated: 13/07/2026

Armstrong Watson LLP

Caledonia House 89 Seaward Street Glasgow G41 1HJ

Page 23

GLENCOE FOLK MUSEUM SCIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025

Note
Income and
endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Total income and
endowments
Expenditure on:
Raising funds
6
Charitable activities
Total expenditure
Net (expenditure)
/income before net
gains on investments
Net gains on
investments
Net
(expenditure)/income
Transfers between
funds
14
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2025
£
6,604
6,180
373
-
13,157
-
38,038
38,038
(24,881)
-
(24,881)
25,000
119
99,334
119
99,453		 Restricted
funds
2025
£
-
148,579
-
-
148,579
-
164,719
164,719
(16,140)
-
(16,140)
-
(16,140)
352,501
(16,140)
336,361		 Endowment
funds
2025
£
-
-
-
2,574
2,574
1,200
-
1,200
1,374
11,619
12,993
(25,000)
(12,007)
110,595
(12,007)
98,588		 Total
funds
2025
£
6,604
154,759
373
2,574
164,310
1,200
202,757
203,957
(39,647)
11,619
(28,028)
-
(28,028)
562,430
(28,028)
534,402		 Total
funds
2024
£
3,082
291,737
741
2,455
298,015
1,200
269,159
270,359
27,656
14,266
41,922
-
41,922
520,508
41,922
562,430

All income and expenditure has arisen from continuing activities.

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 26 to 38 form part of these financial statements.

Page 24

GLENCOE FOLK MUSEUM SCIO

BALANCE SHEET AS AT 31 OCTOBER 2025

Note
Fixed assets
Tangible assets
10
Investments
11
Current assets
Stocks
12
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Endowment funds
14
Restricted funds
14
Unrestricted funds
14
Total funds		 4,399
319,084
323,483
(3,370)		 2025
£
93,243
121,046
214,289
320,113
534,402
534,402
534,402
98,588
336,361
99,453
534,402		 4,429
356,297
360,726
(3,150)		 2024
£
94,258
110,596
204,854
357,576
562,430
562,430
562,430
110,595
352,501
99,334
562,430

The financial statements were approved and authorised for issue by the Trustees on 13 July 2026 and signed on their behalf by:

Emma Halford-Forbes

(Chair of Trustees)

The notes on pages 26 to 38 form part of these financial statements.

Page 25

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

Glencoe Folk Museum SCIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 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.

1.3 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.

1.4 Key accounting estimates

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

1.5 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable 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.

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Page 26

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

1. Accounting policies (continued)

1.6 Expenditure (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

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.

1.7 Taxation

The charity is exempt from tax on its charitable activities.

1.8 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property - 1% reducing balance Plant and machinery - 25% reducing balance

1.9 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Page 27

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

1. Accounting policies (continued)

1.11 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.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, othe 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.

1.12 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.

1.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Income from donations and legacies

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Donations 6,604 6,604 3,082

Page 28

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

3. Income from charitable activities

Unrestricted
funds
2025
£
Grants
6,180
Grants received, included in the above, are as follows:
Highland Council
NLHF Developmnent Fund
MGS Development Fund
High Life Highland
AIM Coffin Boat
SSE
Robert Barr's Charitable Trust
Edinburgh & District ME&D Community Fund
Garfield Weston Foundation
Mary Andrew Charitable Trust
Othe grants
PF Charitable Trust		 Restricted
funds
2025
£
148,579		 Total
funds
2025
£
154,759
2025
£
5,180
58,289
13,290
-
-
-
25,000
500
50,000
500
-
2,000
154,759		 Total
funds
2024
£
291,737
2024
£
33,793
138,230
31,096
9,408
2,500
43,000
25,000
-
-
-
8,710
-
291,737

4. Income from other trading activities Income from non charitable trading activities

Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Admissions 373 373 741

Page 29

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

5. Investment income

Endowment Total Total
funds funds funds
2025 2025 2024
£ £ £
Income from listed investments 2,574 2,574 2,455

6. Investment management costs

Endowment Total Total
funds funds funds
2025 2025 2024
£ £ £
Portfolio management 1,200 1,200 1,200

7. Analysis of expenditure by activities

Activities
undertaken Support Total Total
directly costs funds funds
2025 2025 2025 2024
£ £ £ £
Charitable activities 196,537 6,220 202,757 269,159

Page 30

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Insurance
Light and heat
Telephone
Postage and stationary
Purchases
Repairs and maintenance
Other costs
Development costs
Depreciation of tangible fixed assets
Total 2025		 Charitable
activities
2025
£
107,539
4,063
3,299
1,888
550
317
1,746
16,728
59,392
1,015
196,537		 Total
funds
2025
£
107,539
4,063
3,299
1,888
550
317
1,746
16,728
59,392
1,015
196,537		 Total
funds
2024
£
104,007
3,343
3,729
5,990
623
1,650
1,015
16,858
119,157
1,052
257,424

Analysis of support costs

Independent examiner's fee
Legal and professional fees
Total 2025		 Charitable
activities
2025
£
3,400
2,820
6,220		 Total
funds
2025
£
3,400
2,820
6,220		 Total
funds
2024
£
4,600
7,135
11,735

Page 31

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

8. Staff costs

2025
£
Wages and salaries
100,226
Social security costs
4,859
Contribution to defined contribution pension schemes
2,454
107,539
The average number of persons employed by the Charity during the year was as follows:
2025
No.
Administration
5		 2024
£
96,997
4,654
2,356
104,007
2024
No.
5

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 October 2025, no Trustee expenses have been incurred (2024 - £NIL) .

10. Tangible fixed assets

Cost or valuation
At 1 November 2024
At 31 October 2025
Depreciation
At 1 November 2024
Charge for the year
At 31 October 2025		 Freehold
property
£
115,995
115,995
22,088
926
23,014		 Plant and
machinery
£
11,573
11,573
11,222
89
11,311		 Total
£
127,568
127,568
33,310
1,015
34,325

Page 32

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

10. Tangible fixed assets (continued)

Net book value
At 31 October 2025
At 31 October 2024
Fixed asset investments
Cost or valuation
At 1 November 2024
Additions
Disposals
Revaluations
At 31 October 2025
Net book value
At 31 October 2025
At 31 October 2024		 Freehold
property
£
92,981
93,907
Listed
investments
£
109,944
28,240
(28,894)
10,479
119,769
119,769
109,944		 Plant and
machinery
£
262
351
Cash and
settlements
pending
£
652
625
-
-
1,277
1,277
652		 Total
£
93,243
94,258
Total
£
110,596
28,865
(28,894)
10,479
121,046
121,046
110,596

11. Fixed asset investments

There were no investment assets outside the UK.

The following investments held in individual entities at 31 October 2025 exceed 5% of the portfolio:

Holding £
Vanguard Funds S&P 500 Fund 8% 9,460
BNY Melon Investment Funds 6% 6,854
Blackrock Fund Managers Ltd 6% 6,963
Fidelity UCITS ICAS US Quality 14% 16,772
Vanguard Funds PLC 16% 19,054
RLUM Limited 7% 8,475
Ninety One Funds Series 5% 6,205

The investments have a fair value of £119,769 (2024: £109,944) and a historical cost of £98,897 (2024: £99,551)

Page 33

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

12.
Stocks
Stocks
13.
Creditors: Amounts falling due within one year
Other creditors		 2025
£
4,399
2025
£
3,370		 2024
£
4,429
2024
£
3,150

Page 34

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

14. Statement of funds

Statement of funds Statement of funds
Statement of funds - current year
Balance at 1
November
2024
Income
Designated
Funds
Designated
Funds
93,907
-
General funds
General Funds
5,427
13,157
Total
Unrestricted
funds
99,334
13,157
Endowment
funds
Endowment
Fund
110,595
2,574
Restricted
funds
Fixed Asset
Funds
94
-
Museum
Galleries
Scotland
-
13,290
Clan Donald
Chart
Digitalisation
23
-
Social Enterprise
Scotland
161
-
AIM Coffin Boat
4,796
-
Development
Project
347,427
135,289
352,501
148,579
Total of funds
562,430
164,310		 Expenditure
(926)
(37,112)
(38,038)
(1,200)
(24)
(13,290)
-
-
-
(151,405)
(164,719)
(203,957)		 Transfers
in/out
-
25,000
25,000
(25,000)
-
-
-
-
-
-
-
-		 Gains/
(Losses)
-
-
-
11,619
-
-
-
-
-
-
-
11,619		 Balance at
31 October
2025
92,981
Designated
Funds
Designated
Funds
General funds
General Funds
Total
Unrestricted
funds
Endowment
funds
Endowment
Fund
Restricted
funds
Fixed Asset
Funds
Museum
Galleries
Scotland
Clan Donald
Chart
Digitalisation
Social Enterprise
Scotland
AIM Coffin Boat
Development
Project
Total of funds		 Balance at 1
November
2024
93,907
5,427
99,334
110,595
94
-
23
161
4,796
347,427
352,501
562,430
6,472
99,453
98,588
70
-
23
161
4,796
331,311
336,361
534,402

Page 35

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

14. Statement of funds (continued)

Statement of funds - prior year

Designated
Fund
Designated
Fund
General Funds
General Funds
Total
Unrestricted
funds
Endowment
funds
Endowment
Fund
Restricted
funds
Fixed Asset
Funds
Museum
Galleries
Scotland
Clan Donald
Chart
Digitalisation
Social Enterprise
Scotland
AIM Coffin Boat
Development
Project
<-- Enter row
heading -->
Total of funds		 Balance at
1 November
2023
94,842
44,983
139,825
97,459
125
-
23
161
2,367
280,549
-
283,225
520,509		 Income
-
47,024
47,024
2,455
-
31,096
-
-
2,500
76,710
138,230
248,536
298,015		 Expenditure
(935)
(88,965)
(89,900)
(1,200)
(31)
(31,096)
-
-
(71)
(9,832)
(138,230)
(179,260)
(270,360)		 Transfers
in/out
-
2,385
2,385
(2,385)
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
-
-
-
14,266
-
-
-
-
-
-
-
-
14,266		 Balance at
31 October
2024
93,907
5,427
99,334
110,595
94
-
23
161
4,796
347,427
-
352,501
562,430

Page 36

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

14. Statement of funds (continued)

General fund

The general funds are available for use at the discretion of the Trustees in accordance with the charity's objectives. It ismaintained at a level sufficient toallowtheorganisation time toadjust tochanging 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

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.

Page 37

GLENCOE FOLK MUSEUM SCIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
93,243
Fixed asset investments
121,046
Current assets
323,483
Creditors due within one year
(3,370)
Difference
(434,949)
Total
99,453		 Restricted
funds
2025
£
-
-
-
-
336,361
336,361		 Endowment
funds
2025
£
-
-
-
-
98,588
98,588		 Total
funds
2025
£
93,243
121,046
323,483
(3,370)
-
534,402

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
94,258
110,596
(102,370)
(3,150)
99,334		 Restricted
funds
2024
£
-
-
352,501
-
352,501		 Endowment
funds
2024
£
-
-
110,595
-
110,595		 Total
funds
2024
£
94,258
110,596
360,726
(3,150)
562,430

16. 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 £2,454 (2024 - £2,356).

17. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 October 2025.

Page 38