2024-12-31-accounts

lorgan centre Forgan Arts Centre Report & Financial Statements For the year ended 31 December 2024 TM¥￿.0$[T.￿r￿.Uk R¢tstvtd SC

Contents

Contents
Charity Information	3
Trustees Annual Report	4
Objectives and Activities	4
Vision & Mission	5
Governance and Structure	5
Key Achievements & Performance	6
Our Community Working	13
Business Planning	13
Capital Plans / Buildings & Grounds	13
Funding	14
Financial Review	15
Processes & Policy	16
Budget & Milestones	16
Statement of the charity’s policy on reserves	17
Managing Risk	17
Strategic Risk	17
Update on 2025 Activities and Future Plans	19
Independent Examiner’s Report	21
Primary Financial Statements and Notes	23
Statement of Financial Activities	24
Balance Sheet	25
Notes to the Accounts	26

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Charity Information

Charity Name

Charity Number

Address

Telephone Number Email Address Website

Socials

Trustees

Forgan Arts Centre

SC008537

forganartscentre.co.uk

Facebook forganartscentre Twitter forganarts Instagram forgan_arts_centre

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Trustees Annual Report

The Trustees present their Annual Report and Accounts for the year ending 31 December 2024. The Board of Trustees are satisfied with the performance of the charity during the financial year and consider that the charity is in a strong position to continue its activities during the coming year, and the charity’s assets are adequate to fulfil its obligations.

Objectives and Activities

Forgan Arts Centre exists to advance the arts and lifelong creative practice. Over the past year, we’ve made strong progress across four key areas:

1. Advancing Creative Practice

• We provided a welcoming venue for diverse artistic engagement, supporting both traditional and contemporary crafts. Our programme offered classes, workshops, residencies, and events for all skill levels, fostering inclusive, cross-generational learning. Guest artists, specialist tutors and funded partnership residencies shaped a vibrant and responsive creative programme.

2. Embedding the Natural Environment

• Our riverside and rural setting continues to inspire environmentally conscious practice.

• We integrated the studio garden, allotments, and surrounding landscape into our programming, supporting artists exploring ecology and sustainability.

Through projects linking creativity and nature, we broadened access to the outdoors and encouraged experimentation with natural materials and biodiversity.

3. Building a Sense of Place

We strengthened community through a space that nurtures creativity, well-being, and connection.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

By balancing tradition with experimentation, we offered a unique environment for cultural participation and place-making in Northeast Fife.

1. Ensuring Organisational Sustainability We remained rooted in community needs while growing our team

and membership. Funding streams were diversified to enhance financial resilience. Our governance remained aligned with our creative values, ensuring robust and ethical management

Vision & Mission

Our vision is to sustain an open, welcoming space that serves community needs through creative practice and enriches arts culture in all its forms.

Our mission is to bring people together through arts-based learning and opportunities, from beginners to advanced practitioners. We foster a grassroots artistic ecology, where individuals feel empowered to take creative risks, exchange ideas, and grow through access to professional facilities, expert-led classes, residencies, and events.

Since moving to the Leng Home in 2022, supported by the Scottish Land Fund, Fife Council, and the local community, Forgan Arts Centre has maintained strong local governance and community leadership.

The Board of Trustees, led by co-chairs (organisational) and (artistic) works in close partnership with Centre Director Jen White. Our co-chairing model has proven effective in strengthening decision-making, succession planning, and collaborative leadership. Governance is values-led, shaped by trust, inclusivity, and alignment with our artistic and ecological goals. The

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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board acts as a strategic guide, ensuring compliance with OSCR while supporting innovation and sustainability.

We have strengthened and continue to review board composition and skills to align with our strategic needs. Prospective trustees are welcomed to observe meetings before joining, maintaining transparency and openness. While our small board suits our scale, we draw on external expertise, such as legal and HR support from SCVO, to strengthen our operations during this pivotal phase of development.

Key Achievements & Performance

Throughout the financial year ending 31 December 2024 Forgan Arts grew, despite the impact of the reduction in funding opportunities and post-COVID financial constraints.

We have modified the business model to allow for the maintenance of the estate, increased overheads, new staff, enhanced benefits, and an expanded artist-led creative programme. This mixed economy structure includes fundraising activities, core subsidy, as well as earned income mainly through art-classes.

In 2024, we continued to receive multi-year core funding from Fife Council (North East Fife Area Committee) of £30k per year and Northwood Charitable Trust of £20k per year. We continue our income generating activities including the provision of studios, allotments, and events. Our approach to income generation also balances our commitment to economic accessibility and this can be seen in our equitable approach to pricing.

The centre’s income sources for 2024 include. Self-generated income increased by approximately 19% from 2023 (£169K) to 2024 (£202K). Income from grants decreased by 44% from 2023 to 2024. Selfgenerated income represents an average of 55% and fundraising represents the remaining 45%.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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In 2024 we have developed a portfolio of funders as part of our mixed economy who also provide support, encouragement, and recognition for the quality of our creative programme.

Classes, Courses & Workshops

We continue to develop the core activity of classes and workshops. These programmes support people of all skill levels, from novice to established artist, across diverse creative practices. Our local reputation and increased social media presence has ensured this core income stream remains sustainable. Classes include pottery and visual arts, as well as upholstery and stained glass, while one-off workshops complement these with 2024 hosting sessions on felted vessels, willow weaving, tin sculpture and raku firing.

The programme throughout 2024 has actively expanded to develop professional practice, support experimentation and innovation. We continue to bring new tutors/artists to the centre, developing their teaching skills through training. Alongside providing accessible art & craft facilities providing income, deepening of practice, & demonstration of environmentally sustainable production methods. Our aim is to continue to develop the diversity of classes, embedding new innovative, cross cultural approaches to arts & crafts and how they intersect with traditional methods to spearhead new ways of working, rooted in the protection of the environment.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Studio Members

We have 10 studios available for rent, and our community of practice is enhanced by the leaseholders, who include those working with ceramics, photography, print making, interior design and sound art.

Living Table

The project was initiated by Fife-based, Ecuadorian artist, Désirée Coral Guerra, our first G.R.E.E.N. Artist-in-Residence, and included contributions from artists, activists, chefs, curators, environmentalists, farmers, and writers, from across Scotland, Europe, and Latin America. Culminating in a series of free, public events and publication inspired by the life that grows around a table: from the life of insects that pollinate crops to the cultural and political life made manifest in recipes, traditions, and dinner table habits; from micro-organisms to humanmigration.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Alternative (art) School

Emerging as a direct result of the Gardener's Cottage project, Alternative (art) School is a partnership with Madras College and supports young people experiencing exclusion from mainstream education and labelled ‘school refusers.’ The reasons students are experiencing exclusion are multifaceted and exacerbated by our rural context.

We work holistically with the young people and their families to get them back into the classroom. We do this through a programme they co-design with artist . Artists including , , and have delivered this programme of woodwork, gardening, pottery, photography, design, and music making. The young people’s confidence, connection to other students, and creativity are nurtured, with everyone having experienced a positive impact including improved attainment, attendance, or mental wellbeing, as well as some students advancing to further education.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

The Gardener’s Cottage

This detached cottage on our grounds was falling into disrepair having been uninhabited for decades before the restoration project funded by Scottish Government’s Rural & Islands ‘Ideas into Action’ and led by craftspeople and .

We used the cottage as a live site for teaching trade skills, restoration, and repair, as well as how to make a house more environmentally sustainable. In partnership with Madras College, a local secondary school, a group of students experiencing school-exclusion worked with over a ten-week period.

Queer Makers Club (adult & youth)

Targeted activity responding to local need for safe spaces and accessible creative activities for the rural LGBTQIA community.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Care Makers & Young Carers Club

Targeted activity responding to local need for judgement free, accessible creative activities for unpaid carers (adults and young carers).

Children’s Art Club

Our nature-based holiday club for budding artists sees a rotation of visiting artists throughout the spring and summer school holidays. We offer free and paid places for 5–12-year-olds, connecting young artists to the garden and the creatures that live there.

Gardening for the Future

Gardening for the Future is a project that began in response to a request from someone struggling with their mental health, and has flourished into a welcoming meet-up for people to learn how to sow, grow and harvest food, tooted in permaculture practives that protect the natural environment and sequester carbon. The group mutually supports one another, sharing seeds, cuttings and tools, with relationships blossoming into new support networks. Crops harvested from the community plot fill our community fridge. Our horticultural lead manages a volunteer group of 35 who work to sustain our gardens.

Seasonal Festival Days

We hold four annual Festival Days on the four Gaelic seasonal festivals, Lughnasadh, Samhain, Imbolc, and Beltane. These are pay what can and open to all. Each event draws around 500 people from across Scotland. Each event is programmed by a guest curator, invited to share an idea or their enquiry with our community. In 2024 these included , Two of Cups and Desiree Coral. We aim to continue to develop these festivals as part of our business plan 2025-2028.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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In August 2024 we held our first music festival on Lughnasadh in partnership with local record label, Big Rock. This full-day live-music ticketed family event was attended by 800 people and was hugely successful, providing a roadmap for similar annual events in the future.

Creative Scotland Funding

Further developments for our application for funding from Creative Scotland involved renewing and defining, in detail, our mission, vision, and operational plans for Forgan. While the Scottish Government uncertainty on arts-funding delayed the announcement, we received notification of year-on-year funding in early 2025. The development of this funding bid gave us the opportunity to review the organisational structures, policies and procedures and use community consultation with TIALT to validate our ambitious ‘Arts Centre as a Garden’ ambitions. These are detailed in the document ‘Business plan 20252028 The Sentient Garden.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Our Community Working

Our aim is to remain a grass-roots organisation using ongoing community consultation along with development of our network of artists and critical friends, many of whom are linked through trustee and staff member contacts. We also continue to take an active part in the Rural Arts Network and maintain relationships with the participating organisations. Forgan have membership of SCAN and Future Arts Centres to ensure we are involved in critical national conversations, from art-form development to fairer working conditions, which positively impacts our practice and ability to realise our vision. Our artistic development has included conversations with leading rural arts organisations including Wysing Arts Centre, Grizedale Arts, and consistent support from other rural arts organisations and exemplary curators with a likeminded ethos.

Business Planning

Capital Plans / Buildings & Grounds

Our capital plans have been re-organised in the light of the current economic restrictions on estates and development planning. We have a Capital Sub-group to lead on the development of the Leng Home and Grounds, and in our annual Board away day agreed a staged, prioritybased, and iterative plan to bring together the development opportunities with both curated and commissioned artist-led opportunities, mirroring the work undertaken on Gardeners Cottage.

The original drawings from Nicoll Russell Studio have been approved by the community and team following a broad consultation process. Supported by Indigo Consultants, Community Ownership Fund and Development Trust Association Scotland, we have a capital plan which will allow us to sustain our ambitions. Identified priorities include the upkeep of the current estate, however we anticipate that the first project for development will be the Kiln building, a former garage on the Leng Home estate, which needs repair and renovation.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Funding

The Centre’s Grant Funding strategy has focused on four main areas:

• Bringing in grant income to cover core costs in running a larger Centre with increased staff and building overheads;

• Grants to establish artistic programmes and events;

• Project funding; to support socially engaged practice and partnership projects such as Care Makers, Alternative(art)School, Queer Makers; and

• Capital funding to embark on the longer-term programme to modify and upgrade the Centre to create a long term environmentally and financially sustainable base.

Funding in 2024 was awarded and/or expended from the following sources:

• Development Trust Association (Scotland) – Funding Development Officer salary costs Northeast Fife Community Planning (Fife Council) - Funding for Core Costs

• Northwood Charitable Trust (3 year re-occurring Grant) – unrestricted funding

• Fife Council (SLA) – 3-year un-restricted funding

• Creative Scotland - Participatory Arts and Mental Health – Funding Forgan Makers Clubs

• Fife Rural Development Fund - Funding the Alternative Art School Fife community Planning Partnership - Funding Seasonal Events including Lughnasadh

• Warm Spaces Fund – Funding the Coorie Community Café

• Crown Estate - G.R.E.E.N. Artist in residence – Living Table project Fife Communities Climate Action – Seed and Development Fund, Funding workshops and Climate Convention Event.

• Community Food Provision Grant (Fife Council) – The Coorie Community Club including café provision

• Rural Island and Community Ideas into Action Fund (Inspiring Scotland) - Rural Connections and Community Connections

• Northeast Fife Growing Fund – funding community Garden projects

• The National Lottery Community Fund – artist in residence

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

• Community Chest Funding – Caremakers Club

• Architectural Heritage Fund – capital plans

• Persimmon Homes – capital plans

• Fife Voluntary Action – Mental Health & Wellbeing - artist in residence.

• Stafford Trust – Artist in residence.

• William S Phillips – contribution to core costs

• The Leng Charitable Trust – contribution to Care Makers Club project

• William S Grant Charitable Foundation – contribution to core costs

In 2024, the Centre held and achieved nearly £250K in grant income. We would like to extend our thanks to all our funders and stakeholders without whom we would not have been able to provide these activities. Not only does funding ensure we can provide artist-led activities that respond to community need, but employment for artists and arts workers across Scotland.

Funding ensured all projects provided access costs for Lead Artists/Creative Practitioners and participants to include travel, food/refreshments, and any other support needed which means our activities are accessible. Artists were paid as per the Scottish Artist Union recommended rates. Our commitment to Fair Work extends to freelance team members as well as employees.

Financial Review

Financial oversight sits with the Board of Trustees, supported by our Treasurer. The Treasurer receives monthly reports and analysis from the Director which they discuss and interpret against multi-year forecasts and projections at regular meetings. Quarterly Finance & Audit subCommittee meetings allow for formal interrogation and information sharing. The accounts are independently examined before submission to OSCR and publication.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

During the financial year ending 31 December 2024, Forgan Arts Centre had a reduction in overall funding received in comparison to the previous financial year as a direct result of there being a 60 % decrease from 2023 in restricted funding received.

There were however £84K of restricted fund grants received at the end of 2024 to fund projects scheduled for 2025 and subsequently these are showing as deferred income on the balance sheet for 2024. With regards to other funding - Unrestricted self-generated funds saw an increase of 19% in 2024, and there was similar funding levels recognised of unrestricted grant income in 2024 to 2023. Asset levels on the balance sheet were broadly similar to those recorded in previous financial years.

Processes & Policy

We have introduced mechanisms to ensure fiscal prudence. We use Liberty software to keep detailed financial records in addition to a hardcopy archive. Liberty issues project budget reports, helpful year-onyear analyses and year-end reports. The Financial Controls Policy includes instructions for delegated authority, cash handling, credit/debit card management, details of who the bank signatories are and how/when to prepare year-end accounts. It also signposts to associated policies such as Ethical Procurement Policy and Ethical Fundraising Policy.

Budget & Milestones

All projects have detailed budgets for which spend is attributed, variance assessed, and key milestones. Projects with high risk have discrete dedicated contingency which requires discussion and approval by the Director before use. The Director approves all project budgets and milestones and reviews them quarterly with the project lead.

The Finance Office issues a monthly report, including income/expenditure, details of restricted and unrestricted funds, and cashflow forecast. The Director interrogates these and with the Finance Officer they annotate anomalies, resolve issues, and create projections related to changes in pattern. Data from these reports inform annual and multi-year forecasts which are presented to the Board at the first

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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meeting of the year in January for approval. With two years of consistent data from our time at the Leng Home, we have a sound understanding of its running costs. This combined with 50 years of data in our previous premises, we make accurate forecasts and various projections in response to risk.

Statement of the charity’s policy on reserves

The Trustees regularly review reserves, using the Reserves Policy to support both the Financial Strategy and the Strategic Plan. A risk-based approach is used to calculate an optimal level of reserves that looks at the reliability of income, costs for re-organisation of activities, and specific liabilities. Amounts are included for risks we are aware of as well as contingencies to allow Forgan Arts Centre to cope with unexpected costs and opportunities.

As at 31 December 2024, Forgan Arts Centre has unrestricted cash reserves of approximately £108k. This balance is sufficient to cover the funds that would be required for redundancy costs and amounts owing for running costs should the Centre require to cease operation.

Managing Risk

We assess risk at operational level, which is managed by the staff, artists and arts workers, and at a strategic level which is managed by the Board. This risk monitoring is supported by a risk register for the organisation.

Strategic Risk

The Board manage a register that encapsulates high level risk and explores organisational sustainability. Over the past year, Trustees have undergone a thorough review of their risk management approach, with a concentrated focus on reputational, operational, strategic, and artistic risk. Trustees have enhanced their process by using tools such as SWOT and PESTLE analyses at the Board Development Day, to identify areas of risk in these categories. The Board continue to explore new models of risk management, especially in conversation with organisations who have undertaken major capital projects. The Director has oversight of all

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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risk. This is reviewed at each board meeting as a standing item and strategic risk annually at the Board Development awayday to ensure the organisation factors this into its business planning strategic risks outlined below:

Economics

The cost-of-living crisis and changes in public finance directly impact on our income. For 50 years we have weathered these storms by fostering loyalty with participants and funders.

Society

There is a mental health epidemic and pressure on community services is immense. Our activities support good mental health, delivered in partnership with services, across sectors. The mental health of our staff and volunteers is supported by our organisational policies on fair working practices and opportunities for flexible working.

Technology

Moving to digital risks limiting access for our community. We will embrace digital in our organisation’s administration and new technologies in our creative programme and craft processes, without forgetting our roots and multiple pathways, online and in person, to our activities.

Law

We have invested in creating new policies, procedures, and ongoing, qualified HR support and scheduled annual reviews of these documents.

Environment

The climate crisis is real and urgent. Reaching Net Zero 2045 and planning for beyond this goal, with our community through a placebased just transition that is central to our sustainable policy. Our work also supports the reintegration of social and community activities with the natural environment.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Politics

Changes to local authority administration/elected officials could result in a change of key contacts. We have strong relationships with multiple elected members and across council directorates.

Update on 2025 Activities and Future Plans

In 2024, Forgan Arts Centre continued with its Grant Funding approach and received 2nd funding year (of 3-year re-occurring grants) to contribute to core salary costs from the Northwood Trust and Fife Council. Fundraising objectives continue around securing grant income to contribute to the Centre’s core costs. During 2024, the Art Centre completed Stage 2 of Creative Scotland multi-year funding application and in early 2025, received the confirmation of successful grant awarded for 2025-2028. Securing this investment has allowed the Art Centre to action a new business plan, vision, and strategic aims for the organisation for the period 2025-2028.

Further priorities for Forgan Arts Centre include:

• Continuing our commitment to equality, diversity and inclusion through our dedicated EDI Action Plan led by our Policy Action Group.

• Activating out Business Plan, “An Arts Centre as a Garden” instilling the principles of social permaculture across our organisation and wider community.

• Increasing and accelerating our mission as a centre of progress and action in terms of environmental sustainability.

• Carrying forward plans to ‘Green’ the Gardener’s Cottage with the funding and installation of solar panels, battery storage and an air source heat pump. This project will be an exploratory test of change we will analyse prior to upscaling investment in a future larger capital project for the main building

• Extend and deepen meaningful partner engagement; by working with other arts, cultural, community focused and statutory partners we will ensure we maximise the impact we can have upon improving the lives of the people in communities we serve.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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• We will continue to aspire and invest in our ambition as a recognised centre of excellence in traditional and contemporary arts and social practice in Scotland, UK and beyond.

Approved by the Trustees and signed on their behalf by

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Independent Examiner’s Report

I report on the accounts of the charity for the year ended 31 December 2024 which are set out on pages 23 to 36.

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 Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 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 independent examiner’s statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. 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 seeks explanations from the 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:

• 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 comply with

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Regulation 8 of the 2006 Accounts Regulations have not been met, or

• to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

03 July 2025

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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forgan centre Primary Financial Statements and Notes

Forgan Arts Centre (Charity No SC008537) Statement of Financial Activities For the year ended 31 December 2024

			Unrestricted	Restricted	Total Funds		Total Funds
			Funds	Funds	2024		2023
		Notes	£	£	£		£
Income
	Subscriptions and Voluntary	3	148,700	-	148,700		138,631
	Allotment Rental	3	1,444	-	1,444		1,349
	Sales of class materials	3	4,479	-	4,479		4,222
	Venue Hire	3	300	-	300		1,390
	Studio Rental	3	23,350	-	23,350		19,002
	Donations	4	24,024	-	24,024		4,838
	Grant Income	4	81,611	82,063	163,674		293,773
	Investment	5	4,481	-	4,481		3,716
Total Income			288,389	82,063	370,452		466,921
Expenditure
	Staff Costs	9	101,718	46,107	147,825		143,842
	Other Expenditure	10	172,594	100,888	273,482		268,251
	Governance costs	11	4,672	55	4,727		11,399
	Depreciation	12	-	4,105	4,105		4,093
Total Expenditure			278,984	151,154	430,138		427,585
Net income / (expenditure) and net movement in funds for theyear
			9,405	(69,091)	(59,686)		39,337
Reconciliation of funds
Total funds brought forward			98,452	302,742	401,194		361,857
Total funds carried forward			107,857	233,650	341,508		401,194
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement o total recognised gains and losses has not been prepared. The accounting policies and notes on pages 26 to 36 form part of these financial statements.

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

The accounting policies and notes on pages 26 to 36 form part of these financial statements.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

Forgan Arts Centre (Charity No SC008537) Balance Sheet

As at 31 December 2024

----- Start of picture text -----
Unrestricted Restricted 31 December 31 December
Funds Funds 2024 2023
£ £ £ £
Notes
Fixed assets
Tangible Assets 12 - 193,529 193,529 197,634
Current assets
Cash at bank and in hand 109,471 126,715 236,186 164,163
Debtors and accrued income 13 746 0 746 50,852
Prepayments 13 2,471 - 2,471 2,246
112,689 126,715 239,403 217,261
Creditors: due within one year 14 4,832 86,594 91,426 13,701
Net current assets 107,857 40,121 147,978 203,560
Total assets less current liabilities 107,857 233,650 341,507 401,194
Funds
Restricted income funds - property 12 - 193,529 193,529 197,634
Restricted income funds 15 - 40,121 40,121 105,108
Unrestricted income funds 16 107,857 - 107,857 98,452
Total Funds 107,857 233,650 341,507 401,194
----- End of picture text -----

These financial statements were approved by the members of the committee on XX September 2024 and are signed on their behalf by:

The accounting policies and notes on pages 26 to 36 form part of these financial statements.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

Forgan Arts Centre (SC008537) Notes to the Accounts

1. Basis of preparation and assessment of going concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the ability to continue as a going concern.

2. Accounting policies

2.1 Reconciliation with previously Generally Accepted Accounting Practice

In preparing the Accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed. No restatements were required.

2.2 Funds Structure

Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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Trustees, at their discretion, have created a fund for a specific purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed.

2.3 Income Recognition

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.

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

2.4 Expenditure recognition

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 settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses are allocated to the applicable expenditure headings.

2.5 Depreciation of Assets

Depreciation is provided on tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life. Depreciation on buildings is charged from the date the underlying assets are first brought into use. Depreciation is charged on a straight line basis over a 50 year period at 2% per annum.

3. Income for charitable activities

			Unrestricted	Restricted	Total Funds		Total Funds
			Funds	Funds	2024		2023
			£	£	£		£
	Subscriptions & Voluntary		148,700	-	148,700		138,631
	Allotment Rental		1,444	-	1,444		1,349
	Sales of class materials		4,479	-	4,479		4,222
	Venue Hire		300	-	300		1,390
	Studio Rental		23,350	-	23,350		19,002
			**178,273 **	-	178,273		164,594

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

4. Donations and Grant Income

			Unrestricted	Restricted	Total Funds		Total Funds
			Funds	Funds	2024		2023
			£	£	£		£
	Donations
	Fundraiser event		19,851	-	19,851		4,838
	Other		4,173	-	4,173		-
	Total Donations		24,024	-	24,024		4,838
	Grants Receivable
	Fife Council Grant		42,611	33,350	75,961		67,875
	Development Trust Association Scotland: Strengthening Communities Programme		-	36,287	36,287		35,243
	Northwood Charitable Trust		20,000	-	20,000		20,000
	William Grant & Son Foundation		15,000	-	15,000		-
	Creative Scotland Participatory Arts & Mental Health Fund		-	7,430	7,430		32,290
	William Syson Foundation		4,000	-	4,000		-
	Crown Estate		-	3,496	3,496		27,966
	Fife Communities Climate Action		-	1,500	1,500		1,500
	Scottish Land Fund		-	-	-		19,000
	Rural & Island Communities Ideas into Action Fund -Gardeners Cottage		-	-	-		18,842
	Inspiring Scotland: Rural & Island Communities Ideas into Action Fund		-	-	-		16,660
	Fife Rural Development Fund		-	-	-		16,519
	National LotteryAwards for All		-	-	-		9,976
	Architectural Heritage Fund		-	-	-		7,875
	Northeast Fife Food GrowingFund		-	-	-		5,000
	Persimmon Homes		-	-	-		5,000
	The Stafford Trust		-	-	-		5,000
	Warm Welcome Fund		-	-	-		4,527
	RotaryClub of North Fife		-	-	-		500
	Total Grants Receivable		81,611	82,063	163,674		293,773
	Total Donations and Grant Income		**105,635 **	82,063	187,698		298,612

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

5. Investment Income

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Bank Interest 4,481 4- ,481 3,716
----- End of picture text -----

6. Income on Charitable Activities by Activity Type

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Core Costs 29,575 36,287 65,863 60,699
Artistic Programmes and Events 258,814 42,280 301,094 370,381
Capital Programme - 3,496 3,496 35,841
288,389 82,063 370,452 466,921
----- End of picture text -----

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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7. Expenditure on Charitable Activities by Fund

			Unrestricted	Restricted	Total Funds		Total Funds
			Funds	Funds	2024		2023
			£	£	£		£
	Unrestricted Funds		278,985	-	278,985		202,813
	Development Trust Association Scotland: Strengthening Communities Programme			35,499	35,499		32,569
	Creative Scotland Participatory Arts & Mental Health Fund			22,290	22,290		-
	Fife Rural Developmet Fund			18,350	18,350		16,519
	Creative Scotland Participatory Arts & Mental Health Fund			13,617	13,617		3,813
	Crown Estate			11,054	11,054		19,680
	Fife Council Local Community PlanningPartnership			10,000	10,000		-
	National LotteryAwards For All			9,976	9,976		-
	Fife Council Local Community Planning			5,000	5,000		-
	Warm Welcome Fund			4,527	4,527		-
	The Lady Margaret Skiffington Trust			3,339	3,339		2,569
	Architectural Heritage Fund			2,729	2,729		-
	Fife VoluntaryAction			2,696	2,696		6,081
	Northeast Fife Food Growing Fund			2,484	2,484		2,516
	Fife Council Community Climate Change			2,433	2,433		-
	Fife Council Warm Spaces			1,742	1,742		-
	Persimmon Homes			767	767		4,233
	The Stafford Trust			547	547		4,453
	Inspiring Scotland: Rural & Island Communities Ideas into Action Fund - Gardeners Cottage				-		37,685
	Scottish Land Fund				-		34,112
	Inspiring Scotland: Rural & Island Communities Ideas into Action Fund				-		33,320
	Crown Estate				-		9,865
	Fife Council Community Food Provision				-		7,102
	Adapt & Thrive				-		4,140
	Development Trust Association (Scotland)- Green Shoots				-		2,022
	Depreciation			4,105	4,105		4,093
			**278,985 **	151,154	430,139		427,585

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

8. Expenditure on Charitable Activities by Activity Type

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Core Costs 98,177 29,168 127,345 118,339
Artistic Programmes and Events 165,866 107,083 272,949 238,425
Capital Programme 14,941 14,904 29,845 70,821
278,984 151,155 430,139 427,585
----- End of picture text -----

9. Staff Costs and Emoluments

			Unrestricted	Restricted	Total Funds		Total Funds
			Funds	Funds	2024		2023
			£	£	£		£
	Wages and Salaries		78,261	35,475	113,736		107,346
	Social Security& Pension Costs		23,456	10,633	34,089		36,495
			**101,718 **	46,107	147,825		143,842
	The average number of employees during the year, calculated on the basis of full-time equivalents was as follows:
					2024		2023
					No		No
	Number of staff - charitable activity				4.5		3.5
	No employee received emoluments of more than £60,000 duringtheyear(2023 - Nil)

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

10. Other Expenditure

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Tutor Fees 75,270 3,504 78,774 69,857
Class Supplies 11,548 670 12,219 18,857
Event Supplies 22,085 9,943 32,028 -
Building Repair, Maintenance & Devt 14,941 10,799 25,741 66,727
Insurance 3,443 - 3,443 3,039
Building Overheads 22,653 - 22,653 22,560
Admin & Miscellaneous Expenses 21,082 9,778 30,860 39,159
Project Workers 1,189 61,842 63,031 44,169
Professional Fees 384 4,350 4,734 3,882
172,594 100,888 273,482 268,251
----- End of picture text -----

11. Governance Costs

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Legal Costs 4,172 55 4,227 10,899
Accountancy Fees 500 - 500 500
4,672 55 4,727 11,399
----- End of picture text -----

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

12. Tangible Fixed Assets

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Cost
At 1 January 2024 - 205,844 205,844 205,844
Additions - - - -
At 31 December 2024 - 205,844 205,844 205,844
Depreciation
At 1 January 2024 - 8,210 8,210 4,117
Depreciation charged during the year - 4,105 4,105 4,093
At 31 December 2024 - 12,315 12,315 8,210
Net Book Value
At 1 January 2024 - 197,634 197,634 201,727
Additions Less Depreciation Charged - (4,105) (4,105) (4,093)
At 31 December 2024 - 193,529 193,529 197,634
----- End of picture text -----

The purchase of Leng Home was completed in 2021 and the building came in to use from January 2022. Depreciation has been charged from 1 January 2022 on a straight line basis.

13. Debtors: Amounts falling due within one year

			Unrestricted	Restricted	Total Funds		Total Funds
			Funds	Funds	2024		2023
			£	£	£		£
	Debtors		746	-	746		596
	Accrued Income		-	-	-		50,256
	Prepayments - Insurance		2,471	-	2,471		2,246
			**3,217 **	-	3,217		53,098

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

14. Creditors: Amounts falling due within one year

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Creditors - Suppliers 22 - 22 3,763
Accruals - Class Supplies 479 - 479 -
Accruals - Building Rep, Maint & Devt - - - 408
Accruals - Property Expenses 1,642 - 1,642 2,569
Accruals - Advertising & Marketing - 2,500 2,500 3,000
Accruals - Bookkeeping - - - 326
Accruals - Project Workers - - - 1,350
Accruals - Accountancy Fees 500 - 500 500
Deferred Income - 84,094 84,094 -
Creditors - Studio Deposits 2,190 - 2,190 1,785
4,832 86,594 91,426 13,701
----- End of picture text -----

Two grants totalling £84k were received in late December 2024 but relate to income that will be recognised in 2025. These were from Fife Volutary Action (£40k) and the National Lottery Community Fund (£44k).

15. Movement on Restricted Funds

----- Start of picture text -----
Balance at Incoming Outgoing Balance at
01-Jan-24 Resources Resources 31-Dec-24
£ £ £ £
Core Costs 36,287 (29,168) 7,119
Artistic Programmes and Events 42,280 (107,083) (64,803)
Capital Programme 3,496 (14,904) (11,408)
82,063 (151,155) (69,092)
Represented by:
Property 197,634 - (4,105) 193,529
Assets less liabilities 44,448 - (131,042) (86,594)
Cash 60,660 66,055 - 126,715
302,742 66,055 (135,146) 233,650
----- End of picture text -----

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the

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Scottish Charity Regulator (OSCR), Charity number; SC008537.

16. Movement on Unrestricted Funds

----- Start of picture text -----
Balance at Incoming Outgoing Balance at
01-Jan-24 Resources Resources 31-Dec-24
£ £ £ £
Income from charitable activities 178,273 (278,984) (100,712)
Donations and Grant Income 105,635 - 105,635
Investment Income 4,481 - 4,481
288,389 (278,984) 9,405
Represented by:
Assets less liabilities (5,051) - 3,437 (1,615)
Cash 103,503 - 5,968 109,471
98,452 - 9,405 107,857
----- End of picture text -----

Forgan Arts Centre is a Scottish Charitable Incorporated Organisation (SCIO) regulated by the Scottish Charity Regulator (OSCR), Charity number; SC008537.

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