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← Clarsach Society - Comunn Na Clarsaich

2025-06-30-accounts

Charity registration number SC011819 (Scotland)

THE CLARSACH SOCIETY (COMUNN NA CLARSAICh) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Macleod
H Forster
Mieras MBE
F Merchant
G Beeley
Watt
W Stewart
A Melville
F Bramwell
C Macleod
G Martin
N Wood
C Dowell
J Adams
C Morphett
M Philips
P Seddon
S Staneslow (Appointed 1 July 2024)
F Mayer (Appointed 14 April 2025)
K Daneski (Appointed 11 August 2024)
Ms J Campbell (Appointed 30 September
2025)
Charity number (Scotland) $C011819
Registered office Studio G43
Out of the Blue Drill Hall
36 Dalmeny Street
Edinburgh
EH6 8RG
Independent examiner Johnston Smillie Ltd
5 South Gyle Crescent Lane
Edinburgh
EH129EG

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

CONTENTS

Page Trustees’ report 1-4 Independent examiner's report 5 Statement of financial activities 6 Balance sheet f

Balance sheet f Notes to the financial statements 8-17

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2025

The trustees present their annual report and the financial statements for the charity for the year ended 30 June 2025.

The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the charity's trust deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and 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).

Objectives and activities

The Clarsach Society exists to promote and encourage the playing of the Clarsach, and to preserve its place in the national life of Scotland as one of the most ancient instruments in Scotland and to foster its place among all the other Celtic traditions and in the wider international community of the harp. The Society now has 14 regional branches throughout the UK, and a Branch which is a special interest group for wire strung harp enthusiasts. The Head office operates the harp hire service, music sales and the administration of the Society. The Society organises the Edinburgh International Harp Festival each spring.

Significant activities during the year

The Society’s regular activities include harp hire, scholarships, holding classes and workshops across the branches for clarsach players of all abilities. The Edinburgh International Harp Festival was held in April and was very successful.

On 1 July 2024 the Shetland Branch of the Society was formed. A group of Clarsach players on the island applied to join the Society and the branch has now started activities.

Significant use of volunteers

The Society relies heavily on the support of their members and the Branch Committees who give their time and efforts freely to the society.

Achievements and performance

Financial review

Income has increased to £291,738 (2024: £196,375) while resources expended have reduced to £215,844 (2024: £216,260) resulting in a surplus of £75,894 (2024: £19,885 deficit). The surplus is stated after charging depreciation on harps of £24,436 (2024: £22,088).

The income for the year has benefited from a very generous legacy of £47,575 received from the estate of Susanne Lloyd-Jones a former trustee of the Society. It is very much appreciated and has so far been used to purchase more harps for the Society.

The Society's main event, the 44" Edinburgh International Harp Festival was held in person at George Watson's College with an online offering as well. It was well received by all the participants. Generous grant funding was received. A surplus of £8,123 was recorded (2024 £17,234 deficit)

The surplus from Branch activities totalled £19,819 (2024: £1,454)

Reserves Policy

The level of reserves held by the charity is £451,496 although £223,217 of this represents the net book value of instruments and other assets owned by the Society. It is the objective of the Society to maintain sufficient reserves in order to ensure that day-to-day operations can continue and that liabilities can be met. All the reserves currently held by the Society are considered by the Trustees to be unrestricted except for anonymous donations of £2,000 received in 2019, 2020, 2021, 2022 and 2023 which are also used to provide bursaries. The balance on the restricted fund at the end of the previous year was £6,590 and after bursaries amounting to £900 were paid during the year, a closing balance of £5,690 remains at 30 June 2025.

Risk Assessment

The Trustees have considered the major risks to which the Society is exposed and systems and procedures to manage those risks are in place.

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THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Plans for future periods

Plans for the future

The Society plans to continue with its main objectives, and the strategy continues to be that outlined above. It is planned that the Edinburgh International Harp Festival will be held at George Watson's College in Spring 2026.

Structure, governance and management

Historical Information

The Society was formed at Dingwall during the National Mod in September 1931. The Society is an unincorporated association and is registered as a Scottish Charity.

Governance Structure

The Society is governed by the Charities and Trustees Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Trust Deed of the Charity; and in further order of precedence:

The Executive Council is the governing body of the Society and meets a minimum of twice a year. Day-to-day management of the Society is by the Finance and Administration Committee and the Administrators.

«<2.

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

The trustees who served during the year and up to the date of signature of the financial statements were:

President: Isobel Mieras MBE

Vice President: The President ofAnComunn Gaidhealach (ex officio)

Current Executive Council-Trustees: Elected Members:

Charles Hope (Convenor) Calum Macleod (Convenor) Neil Wood (Vice Convenor) Mairi Macleod (Gaelic Adviser) Helen Forster Isobel Mieras MBE Christine Morphett Morag Philips Patsy Seddon Fine Mayer Wendy Stewart

Branch Representatives: Vacant (Argyll Branch) Christine Morphett (Bristol & West of England Branch) Frances Younson (Bristol & West of England Branch) Catherine Dowell (Edinburgh Branch) Jennifer Campbell (Glasgow Branch) Nancy Sim (Glasgow Branch) Janet Adams (Highland Branch) Mairi Macleod (Isle of Lewis Branch) Felicity Merchant (London & SE Branch) Gill Martin (Northumbria Branch) Sunita Staneslow (Shetland Branch) Gill Beeley (Transpennine Branch) Katherine Daneski (Wales Branch) Flora Bramwell (Wire Branch) Irene Watt (North East Scotland Branch) Wendy Stewart (Dumfries and Galloway Branch

(until 14 April 2025) (from 14 April 2025) (from 14 April 2025)

(until 14 April 2025) (until 14 April 2025) (from 14 April 2025) (from 14 April 2025)

(from 14 April 2025) (until 14 April 2025)

(from 30 September 2025) (until 30 September 2025)

(from 11 August 2024)

Honorary Secretary-Trustee:

Mary Scott Morag Philips

(until 14 April 2025) (from 14 April 2025)

Honorary Treasurer-Trustee:

Andrew Melville

Society & Festival Administrators: Sheena Walker Heather McAslan

(from 21 October 2024 to 25 April 2025)

Bi

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Appointment of Trustees

Elections are held annually by the Society in General Meeting. Only Society members may be elected to the Executive Council and when elected they automatically become Trustees. The Convenor and Vice Convenor, the Gaelic adviser and six elected members are elected annually. The Branches each appoint annually a Branch Representative to the Executive Council at the Branch General Meeting who also become Trustees. The Society holds a Trustee Indemnity Insurance policy.

Society Membership

The Society is based in Scotland with a UK wide membership and some members resident abroad. Members join through one of the fourteen branches of the Society which have some autonomy but which are not independent, autonomous bodies. The Branches operate under the Clarsach Society Charity registration number.

Trustees’ Responsibilities in relation to the Accounts

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Trust Deed of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees have agreed to continue to have the accounts independently examined.

This report has been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS102) — (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The trustees’ report was approved by the Board of Trustees.

Andrew Melville

A Melville Trustee

5 March 2026

wars

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

| report on the financial statements of the charity for the year ended 30 June 2025, which are set out on pages 6 to 18.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's 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 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 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 | do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met or

MAP Taddei MA FCA CA

Relevant Professional Body: The Institute of Chartered Accountants in England and Wales

Johnston Smillie Ltd

5 South Gyle Crescent Lane Edinburgh EH12 9EG

Dated: 9 March 2026

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’

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted Restricted Total Total
funds funds
2025 2025 2025 2024
Notes £ £ £ £
Income from:
Donations and legacies 3 98,792 - 98,792 17,709
Charitable activities 4 192,432 - 192,432 178,028
Investments 5 514 - 514 638
Total income 291,738 - 291,738 196,375
Expenditure on:
Charitable activities
Branches 6 65,286 - 65,286 64,692
Head Office 6 51,029 900 51,929 54,813
Festival 6 98,629 - 98,629 96,755
Total charitable expenditure 214,944 900 215,844 216,260
Net income/(expenditure) for the year/
Netmovement in funds 76,794 (900) 75,894 (19,885)
Fund balances at 1 July 2024 369,012 6,590 375,602 395,487
Fundbalancesat30June2025 445806 5,690 451,496 375,602

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

=6 =

THE CLARSACH SOCIETY (COMUNN NA CLARSAICHh)

BALANCE SHEET

AS AT 30 JUNE 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 11 223,217 199,924
Current assets
Debtors 12 5271 413
Cash at bank and in hand 228,256 180,881
233,527 181,294
Creditors: amounts falling due within 13
one year (5,248) (5,616)
Net current assets 228,279 175,678
Total assets less current liabilities 451,496 375,602
The funds of the charity
Restricted income funds 15 5,690 6,590
Unrestricted funds 16 445 806 369,012
451,496 375,602

The financial statements were approved by the trustees on 5 March 2026

Andrew Melville

A Melville Trustee

aif =

THE CLARSACH SOCIETY (COMUNN NA CLARSAICHh)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

Charity information

The Clarsach Society (Comunn na Clarsaich) is an unincorporated charity. The registered office address is Studio G43, Out of the Blue Drill Hall, 36 Dalmeny Street, Edinburgh, EH6 8RG.

The financial statements have been prepared in accordance with the charity's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for small charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3. Charitable funds Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without specified purpose and are available as general funds.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Funds which have been designated for capital purposes, for example the harps owned by the Society, are available for use at the Trustees’ discretion.

All incoming resources are recognised once the Society has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Grants of a revenue nature are credited to income when the Society's right to the funds becomes unconditional. Donations are credited to income upon receipt. Income is deferred where conditions attaching to the receipt have not been met and the Society's entitlement to those funds is not therefore certain.

-8-

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

(Continued)

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Charitable expenditure comprises costs incurred by the charity in the delivery of its services and activities and grants made once an unconditional commitment to pay the grant is made to the recipient or the grant is paid, whichever is earlier.

Costs are allocated dependent on the activity categories of the resources expended. No costs are apportioned.

Costs of raising funds

The costs of raising funds consist of the cost of advertising and costs of goods sold relating to the Edinburgh International Harp Festival.

Charitable activities

Costs of charitable activities include all expenditure for the day to day running of the Society, including the running costs of the festival, putting on concerts and courses, travel expenses and other running costs.

Governance costs

Governance costs comprise all costs associated with the governance arrangements of the Society which relate to the general running of the Society. Included within this category are any costs associated with the strategic as opposed to day to day management of Society's activities.

Scholarship grants

Scholarship grants payable from the restricted scholarship fund are recognised as a liability when an unconditional grant offer has been notified to the successful applicant. Grants amounting to £1,080 were paid during the year.

Leasing Rentals payable under operating leases are charged against income on a straight line basis over the lease term,

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

All harps owned by the Society are capitalised. Office equipment is capitalised at a cost over £100.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office Equipment Harps

20% Straight line

5% Straight line

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

-9-

THE CLARSACH SOCIETY (COMUNN NA CLARSAICHh)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. The charity has only basic financial instruments which are measured at transaction price.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and grants 36,194 4,516
Membership fees 9,743 9,378
Sponsorship 5,280 3,820
Legacy 47,575 -
98,792 17,709
Donations and grants
Branches 15,861 1,016
Head office 243 657
Festival 20,090 2,843
36,194 4,516

210

| , ,

THE CLARSACH SOCIETY (COMUNN NA CLARSAICHh)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

4 Charitable activities

Branches’ __Head Office Branches’ __Head Office Festival Total Branches _ Head Office Festival Total
2025 2025 2025 2025 2024 2024 2024 2024
£ £ £ £ £ £ £ £
Harp rental 41,168 48,770 2,046 91,984 36,709 46,908 1,707 85,324
Advertising - 690 9,327 10,017 - 680 8,398 9,078
Music sales incl CD's
Classes and lessons provided		 211
23,951		 629
-		 3,689
28,841		 4,529
52,792		 648
22,409		 519
-		 3,900
26,297		 5,067
48,706
Misc income 532 - 1,619 2,151 682 60 1,993 2,735
Ticket sales 3,959 15 23,092 27,066 4,150 - 20,028 24,178
Merchandise 420 - 3,473 3,893 - - 2,940 2,940
70,241 50,104 72,087 192,432 64,598 48,167 65,263 178,028

Income from charitable activities totalled £192,432 (2024: £178,028), of which Enil was restricted (2024: £nil) and £192,432 was unrestricted (2024: £178,028).

Included within miscellaneous income for Head Office is an amount of £nil (2024: £60) which relates to income from the sales of the history book and Christmas cards.

|

= {f=

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 514 638

Income from investments totalled £514 (2024: £638), of which £nil was restricted (2024: £nil) and £514 was unrestricted (2024: £638).

-12-

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

6 Charitable activities

Branches Head Office Branches Head Office Festival Total Total
2025 2024
2025 2025 2025
£ £ £ £ £
Staff costs - 13,067 15,600 28,667 33,071
Depreciation and impairment 11,175 13,552 - 24,727 22,309
Courses/Workshops 34,488 - 12,790 47,278 44,952
Rent of office . 6,621 - 6,621 6,475
Harp repairs 2,012 1,010 - 3,022 1,402
Travel costs 552 1,389 11,904 13,845 12,878
Venue hire & concert costs 6,299 - 36,808 43,107 44,116
Phone/printing etc 882 987 - 1,869 2,075
Misc expenses 2,522 299 215 3,036 4,196
Other costs 193 1,701 3,455 5,349 6,208
Insurance 4,124 4,889 - 9,013 8,330
IT and website costs 443 2,607 6,224 9,274 9,134
Cost of music folios 84 48 - 132 597
Advertising 85 390 5,933 6,408 5,986
Merchandise incl CD's 632 . 4,219 4,851 5,800
Cafe costs - . 1,481 1,481 1,588
63,491 46,560 98,629 208,680 209,117
Grants and donations 1,795 2,325 - 4,120 4,238
Share ofgovernance costs (see note 7) - 3,044 : 3,044 2,905
65,286 51,929 98,629 215,844 216,260
Analysis by fund
Unrestricted funds 65,286 51,029 98,629 214,944 215,180
Restricted funds - 900 . 900 1,080
65,286 51,929 98,629 215,844 216,260
For the year ended 30 June 2024
Unrestricted funds 64,692 53,733 96,755 215,180
Restricted funds - 1,080 : 1,080
64,692 54,813 96,755 216,260

The Trustees consider there is only one charitable activity which is to promote and encourage the playing of the Clarsach.

= 13

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) | FOR THE YEAR ENDED 30 JUNE 2025

7 Support costs allocated to activities
2025 2024
£ £
Governance costs 3,044 2,905
Analysed between:
Charitableactivities 3,044 2,905

8 Trustees

Trustees are volunteers and do not receive remuneration for their services. Trustees are reimbursed for travel costs incurred in running the charity, but no benefit is gained from this.

During the year travel costs and expenses amounting to £1,389 were reimbursed to four trustees (2024: £2,020 reimbursed to three trustees).

9 Employees

The average number of employees during the year was:

2025 2024
Number Number
2 2
Employment costs 2025 2024
£ £
Wages and salaries 27,970 32,288
Pension costs 697 783
28,667 33,071

No employee received emoluments of more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

11. Tangible fixed assets

11. Tangible fixed assets
Office Harps Total
Equipment
£ £ £
Cost
At 1 July 2024 7,524 441,350 448 874
Additions 660 48,710 49,370
Disposals - (1,350) (1,350)
At 30 June 2025 8,184 488,710 496,894
Depreciation and impairment
At 1 July 2024 6,967 241,983 248,950
Depreciation charged in the year 291 24,436 24,727
At 30 June 2025 7,258 266,419 273,677
Carrying amount
At 30 June 2025 926 222,291 223,217
At 30 June 2024 557 199,367 199,924
12 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors 3,522 413
Prepayments and accrued income 1,749 -
6271 413
13 Creditors: amounts falling due within one year
2025 2024
Notes £ £
Other taxation and social security 672 594
Deferred income 14 776 1,940
Accruals 3,800 3,082
5,248 5,616
14 Deferred income
2025 2024
£ £
Subscriptionsandgrants 776 1,940

= 46

THE CLARSACH SOCIETY (COMUNN NA CLARSAICH)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

14 Deferred income

(Continued)

Deferred Income of £776 (2024: £1,940) consists of 2025/26 Members’ Subscriptions of £776 (2024: £1,316) received in advance along with grants received from Creative Scotland in advance of £nil (2024: £624).

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At1 July 2024 Resources At30 June
expended 2025
£ £ £
Scholarship Fund 6,590 (900) 5,690
Previous year: At1 July 2023. Resources
expended		 At30 June
2024
£ £ £
ScholarshipFund 7,670 (1,080) 6,590

Restricted Funds represents specific donations to fund scholarships.

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2024 Incoming Resources At30 June
resources expended 2025
£ £ £ £
Harp Fund 199,367 48,710 (25,786) 222,291
General Fund 169,645 243,028 (189,158) 223,515
369,012 291,738 (214,944) 445,806
Previous year: At 1 July 2023 Incoming Resources At 30 June
resources expended 2024
£ £ £ £
Harp Fund 202,340 20,895 (23,868) 199,367
General Fund 185,477 175,480 (191,312) 169,645
387,817 196,375 (215,180) 369,012

THE CLARSACH SOCIETY (COMUNN NA CLARSAICHh)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

16 Unrestricted funds

(Continued)

The Harp Fund represents the net book value of harps held by the Society.

General Funds represents the unrestricted reserves held by the Society.

17 Analysis of net assets between funds

==> picture [444 x 236] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted|Total| |funds|funds| |2025|2025|2025| |£|£|£| |At|30|June|2025:| |Tangible|assets|223,217|-|223,217| |Current|assets/(liabilities)|222,589|5,690|228,279| |445,806|5,690|451,496| |Unrestricted|Restricted|Total| |funds|funds| |2024|2024|2024| |£|£|£| |At|30|June|2024:| |Tangible|assets|199,924|-|199,924| |Current|assets/(liabilities)|169,088|6,590|175,678| |369,012|6,590|375,602|

----- End of picture text -----

18 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

==> picture [443 x 46] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |£|£| |Within|one|year|574|540|

----- End of picture text -----

19 Related party transactions

Related party transactions during the year are detailed at Note 8.

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