FRIENDS OF GLASGOW MUSEUMS Supporting the Art Galleries and Museums in Glasgow since 1944 ANNUAL REPORT & ACCOUNTS 2022/2023 Executive Commrttee's Report pages 2-5 Independent Examinerfs Report page 6 Financial Statements & Notes pages 7-10 Friends of Glasgow Museums is an association founded in 1944 by Dr Tom Honeyman. Its original name was Glasgow Art Galleries & Museums Association. It is a charty registered in Scotland, number SC008995. Its activities are open to all, and its funds are raised by members and friends, from subscriptions, events income and through donations and bequests kindly given in support of the Friends, objectives which are 'primarily for the advancement of the arts, heritage, culture or Scien and to provide public benefft,. Friends of Glasgow Museums, clo Turcan Connell, 180 St w1nnt Sl, Glasgow, G2 5SG Contact: admin fnendso las owmuseums.or A Member of the British Association of Friends of Museums
REPORT & ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 EXECUTIVE COMMITfEE'S REPORT The Executive Committee. who are the trustees of the chanty. are pleased to present their r8POrt and financial statements together wrth the independent examinerfs report for the year to 31 March 2023. ACTIVITIES. ACHIEVEMENTS and PLANS Our level of activty was much increased in 2022r23 as the effects of the COVID-19 pandemi¢ receded and museums, galleries and public spaces became, in the main, accessible once more. Our membership numbers som8 600 Friends. whose support is greatly valued. FOGM continues to have it$ base within The Glasgow Art Club, encouraging interaction tetween the Friends and fellow Arts organisations and enabling FOGM to increase its visibilty as a society while continuing to stay connected with our core aims and objectives: cultivating interest in, and raising awareness of, the collects'ons and activities of the Museums and Art Galleries of Glasgow. Our agreement with the Glasgow Art Club gN8S FOGM Corporate Membership of the Glas9ow Art Club,. one princip31 Membership (held by the Chair) including voting privileges as a full Member, plus an additional seven non-voting Corporate Memberships, held by nominated Executive Committee Members. Additionally, this agreement entitles all Friends and their guests to visrt the Art Club and use its catering facilities on presentation of FOGM membership cards. Our websrte Nvww.friendso las owmu ms. gives online access to the latest FOGM news and information aboLrt our activities, events, aims and objectives, and attracts membership applications and correspondence from Friends in all parts of the world. Its associated Instagram account has been highly effective in building connects'ons With the WKler museums. galleries and herrtage community. In 2022123 FOGM awarded grants totalling £11,236. The standard of all applications was high. the use of the grant funding has been imaginative and in accord wrth our charrlable aims and objectives and relationships with insttlution8 new and old have been developed and reinforced. The Committee has agreed an increased grant&awarding policy for the financial year 202>24, inviting applications for 5 individual grants of £1000 and 3 individual grants up to and including £5000. In special circumstances and for excepts'onal applications, awards of more than £5000 may be considered. In 202312024 the foojs of our grants is.. encouraging young practising artistsldesigners; new initiatives; new researchlpublicab'on$ into artists. desvJners or collectors who have not been published before. looking at vmys to make artworks more a¢ssIble to all FOGM members. Climat8 Change and sustainability" using new technology to widen interest in Culture and the Arts: and competitions for Young People. Our Newsletter, circulat&1 periodically in hard copy to the entire membership, continues to be a popular and effective way to maintain and enhance communication wth all Friends. The Committee has previously discussed the possibilty - for both financial and environmental reasons- of offering an 'opt- out, option for members who would prefer to read this eledronically via our website and this will be kept under review. Elsewhere we continue to employ a 'hybrid' method of communication (emailing Friends wherever possible) which has been effective in reduang both paper usage and postage costs. However, the Committee is aware that many Friends stÉll prefer to be contacted by post and where this is the preference, V will continue to do so. Our 2022 FOGM Zoom Lectu Series was very successfvl and to date the 2023 series has been equally well received. We are extremely grateful to all our guest speakers for providing the Friends with such a rich and varied programme of lecture8.
REPORT & ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 Over the last year our a¢tiwties have induded visits to The Hill House, Holmwood House, House for an Art Lover, the GRI Museum, the Hunterian Art Gallery and Mackintosh House: a preview tour and talk at the newly opened Burrdl Collection" and the Eric Watt Pholographic Exhibrtion at Kelvingfove. have held several speoal everts.. An Evening in Conversation ryth al The Glasgow Art Club,. A Fnends. Christrnas Lunch at Kelvingrove., guided walks around Kelvingrove Park and Glasgow Necropolis. a special perfomiance on the Tall Ship, Glenlee., and dedicated Friends, organ recrtal at Kelvingrove in recognition of our support for vital repairs to the Kelvingrove Organ. In the upcoming months we have scheduled a further walk in Glasgow Necropolis. the Mary Quant retrospective al Kelvingrove, the Royal College of Physicians and Surgeons Glasgow and a guid8d tour of Glasgow Cathedral. and our monthly Zoorn lectures will continue unlil the end of the year. In 2023 Partner at Robb Fer uson Chartered Accountants was appointed a8 our Independent Examiner. Our thanks to for his work on our behalf in 2021122. OGM VI181r, has taken on the task of regularfy uploading articles and pictures showcasing our activrti88 and 8V8nt6 and makn'ng the website a vibrant and attractive '8hop window, for our organisation FOGM Finance Convenor, manages all adminislralion and has been instrumental in Is Ing new protocols and modemising existing procedures itiated FOGM'S registration with HMRC for Grft Aid in 2022, which is a substantial boost to our charity s income. My thanks to and to the Exècutive Committee for their many contributions, irKlividually and as a team, to all our endeavours over the last year. In conclusion, l am very happy to be ablè to give such a positive account of 2022123 and to report that Friends of Glasgow Museums continues to Ihnve as a society Chair FINANCIAL REVIEW Overvlew The A¢Gounts are for the year to 31 March 2023. We have had a good year finanaally and income from our events and lectures has helF*d support our grant-makin9 athvities. The yearfs Receipts and Payments are set out on page 7. We were able to claim Grft Aid of £897 on subscriptions arAJ donations in 2021122 and will Continue to claim this going forward where possible.
REPORT & ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 Grants totalling £11,236 were made during the year as follows.. Glasgow Museums. Young Person's Art Competrtion: 2500.IJ) Friends of Glasgow Royal Infirmary Museum. The Tall Ship Gleniee.. Kefvingrove (gan Restoration.. Kelvingrove Volunteef GuKles. 2000.00 3000.00 2750.(M) 986.00 Thèse amounts vAre paid using current funds atthough the balan of the Kelvingrove Organ Fund, restricted fund which fomied part of our investment portfolio, was used to support the organ restoration work and subsequently closed. The same amount was then pui into the General Investment Fund in order lo maintain the onginal total invested of £250,000. Contlnulng Fund• The continuing funds of the Friends as at 31 March 2023 total £288,796 as set out on page 8. This includes surpluses adiieved over the years by the Friends, programmes of events, lectures. excursions and guided tours. It also indudes the current balance of bequest$ kindly made by donors in support of ongoing ath'vitie8. After being managed foi just over a year by CCLA Investment Management Lld {CCLAI, the valuatlon of our investment funds was £255,175 (original inv&stmerrt £250.(XX)). These are held in Accumulation Units as no income 18 required at this ts'me. Flnanc• Convener CHARITABLE PURPOSES Friends of Glasguw Museums is an independent chanty established in 1944, 'primarily for the advancement of the 8rt8, herrtage. CuUre or saence and to prade wblic benefrt,. Its activities 8re all charrtable. It cultivates interest in the a¢livtties- artistic. historical. educational and s¢ientffic- tMoted by art galleries arKI museums in Glasgow. The Friends, a¢tivitses indude lectures, excursions. guided tours arKI events with the aim of ènhancing and improving ihe enjoyment of visrtors to art galleries and museums in Glasgow and their collections. By the fundraising of rts members, and by receiviNJ donations and bequests, it is also abl& to award grants to support and promote collections.
REPORT & ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 STRUCTURE, GOVERNANCE & MANAGEMEKr Govorning Document The Friends of Glasgow Museums is an unincorFM)rated association established to cultivatè interest In the arts. heritage, culture or Scien and to prowde public benefit. It 1$ governed by its Constituts'on. The registered charty number is SC008995. Appolntmant of Mom18 of thè Exgcutlve Committ00 The Gommrtlee consists of members of the Friends and their appointment is voted upon by the general membership at Annual General Meetings in accordance with the Gonstilubon. LEGAL AND ADMINISTRATIVE DEfAILS Charlty Namo Charlty Number Friends of Glasgow Museums SC008995 Prlnclpal Address clo Turcan Connell. 180 St Vincent S( Glasgow, G2 5SG Web8tte Address w.friendsof las owmuseums or Curront Tru8taa• ner) APPROVAL This report was approved by the Executive Committee on 16th May. 2023 and signed on its behalf by.. Chair Finance Convener
REPORT & ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 INDEPENDENT EXAMINER'S REPORT Independent Examinerfs Report to the Executive Committee of the Frlends of Glasgow Museums I report on the Accounts of the charity for the year tD 31 March 2023 which are set out on pages 7 to 10. Respective responsibilities of Trustees and examiner The charity's Trustees are responsible for the preparation of accounts in accordance with the terms of the Charrties and Trustee Investment (Scotland) Ad 2005 and the Charities Accounts (Scotland) Regulations 2008 {as amended) The charity Trustees consider that the a11 requirement of Regulation 1011) (dl of the 2006 Accounts Regulations does not apply. It is my resportsibilty to examine the accounts as required under section 44(1) (¢) of the Act and to state whether particular matters have Come to my attention. Basis of independent oxaminerfs 8tatom0nt My examination is carried out in acc¢Ndance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records k8Pt by the chanty and a compari80n of the accounts presented with those records. It also indudes ¢onsideralion of any unusual items or disdosur8s in the accounts and seeks explanations from the Trustees conc8ming any such matters. The procedure8 undertaken do not provide all the eviden that would be requTrd in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Indepondont examlnof 8 statnent In the course of my examination, no matter ha8 come to my attention l. which gives me reasonable use to believe that in any material respect the requirements.. to keep accounting records in accordan wrth Section 44(1) {a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations to prepa accounts which accofd with the accounting records and comply wrth Regulation 9 of the 2(Th Accounts Regulations have not been meL or 2. to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounls to be reathed. ner Robb Ferguson Chartered Accountants Regent Court 70 Wesl Regent St Glasgow G2 2QZ 30th May. 2023
REPORT & ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 STATEMENT OF RECEIPTS & PAYMENTS FOR THE YEAR ENDED 31 MARCH 2023 2022123 2021122 Rec8lpts Membership subscriptions Donats'ons Events Income 9,768 10.145 4.270 7,701 1.859 14,650 80 897 Investment Interest Income Grft Aid Tolal Receipts 29.743 23.975 Payments Grant Funding Lectures, Events & Excursions Post, printing & stationery Website maintenance 11,236 8,827 5,058 4,919 5,934 7,926 Website Development Admin Salaries Membership Fees offi Eqpt, Insurance. Cxher Removals & Storage Legal Fees 9,150 1,128 2,800 1,958 3.130 1,118 348 Total Payments 34.288 31,804 Deficit for tho year 7.829 The notes on page 10 form an integral part of these accounts.
REPORT & ACCOUNTS FOR THE Y&4R TO 31 MARCH 2023 STATEMENT OF BALANCES FOR THE YEAR ENDED 31 MARCH 2023 Funds Roconclllatlon Continuing Funds Balance as at 1 April 2022 Deficit for year Decrease in Investment valuation Funds u at 31 March 2023 299,027 4,545 -5,686 288.796 Investment Fund8 Market valuation of funds managed by CCLA Investment Management Limited as at 31 March 2023 255,175 Bank & Ca8h Balances Virgin Money Current Accounts CCLA Charty Deposrt Cash Total bank arKI cash as at 31 March 2023 10,069 21,802 200 31,871 Other AMol• Prepayments 1,750 Representlng: Unrestricted funds Restricted funds 189,684 99.112 288.796
REPORT & ACCOUNTS FOR THE YEAR TO 31 RCH 2023 CCLA Investment Management Limited corrtinues to manage £250.000 on behalf of the Friends with view to achieving medium caprtal growth. The inve8tment portfolio consists of a holding of units in the COIF Charities Ethical Investment Fund (the EthiGal Fund). The Ethical Fund is an entity in ils own right. in which the assets of charities with shared objectives are pooled and managed collectively by the fund's manager. CCLA. The principal cost incurred by the fund is CCLA'S annual management Charg8, which is 0.600A p.a. Third party fund management costs are approximately 0.08% p.a These include the fund's audrt fee and other govemance and professional services Additionally. thè costs associated with some of the Fund's underlying investments are approximately 0.23% p.a. Hence the Ethical Fund'5 '0ngoing charges figure, is approximately 0.91% p. No costs are incurred directly by fund unit holders. All Costs are met from the fund's caprtal and are therefore refflected in the valuation of fund units, thfiich in tum detemiines the value of the Charity s holding in the fund. The trustees have selected accumulation unrts in the Ethical FurKI, which means that there is no entitl8ment to an income distribution. Funds previously held in a Virgin Money Charity Deposit account were transferred to a CCLA Charily Deposit account in February 2023 in order to achieve a hhar rate of interest. The further notes on page 10 fom an integral part of these accounts. These accounts were approved by the Executive Comrnee on 16th May, 2023 and signed on its behalf by: Chair Finance Convener
REPORT & ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1. Basis of Preparatlon These accounts have tjeen ppared on the receipts & payments basis in accordance with: {a} The Charities and Trustee Investment (Scotland) Act 2005 (b) The Charities Accounts (Scotland) Regulatsons 2006 (as amended). The activities of the Friends of Glasgow Museums are all exdusively charitable activrties. 2. Contlnulng Fund* The Friends continuing funds are held in support of 5ts ongoing chariiable activities. (a) Unre8tri¢ted funds are those that can be used at the discretion of the Exe<xrtive Committee in the furtherance of the oity'ects of the Friends. (b) Restricted funds are those that shall only be used for the purposes specrfied by the donor or trust Funds considered as restricted, their purwses and their valuatlon as at 31 March 2023 as estimated by CCLA Investment Management knmrted are as follows. £59,637 £28,390 Anne MacLean 8equest Camphill Fund Evelyn McNab Bequest Total Restricted Funds For the educab'on of young people Promotion of Costume &Texiile Collection £11,085 Acquisrtion of any picture or sculpiur 3. Taxatlon (a) The charty is not liable to income tax nor capital gains tax. (b) The Charty is not registered for VAT: all costs are shown indusive of VAT charged. 4. Transacllons wlth Trustees and related parties No remunerats'on was paid to Trustees or any prnns Connected with them during the year. io