CHARITY REGISTRATION NUMBER: SC015649 Clan Cameron Museum Unaudited Financial Statements 31 October 2024 LEMENT A Chartered accountants 5 Argyll Square Oban Argyll PA34 4AZ IATE HARTERED NT
Clan Cameron Museum Financlal Statements Year ended 31 October 2024 Page Trustees, annual report Independenl examiner's report to the trustees Statement of financial activities Slatemenl ol financial position Notes to the linancial statements The following pages do not form part of the financial statements Detailed slatemenl of financial activities 17 Notes to the delailed statement of financial activities 18
Clan Cameron Museum Trustees, Annual Report Year ended 31 October 2024 The Irusiees present their report and the uTraudtted financlal slalements ol the charity lor the year ended 31 Oclot)er 2024. Referwce and admlnlslraiive delalls Reglstered charily name Clan Cameron Museum Charlty reglstrallon numbgr SC015649 Prlnclpal office Achnacariy Spean Bridge Inverness-shire PH34 4EJ The trustees Independenl ex8mlner A Clament Associates C.A. Oban Arg1 PA34 4AZ Structure, governance and managerrent Organlsatlonal Structure Clan Cameron Museum Is a trust which is recognised as a charity in Scolland and is regulated by the Trusi Deed. The Irusl was esiablished by Trust Deed executed on 3 December 1986 and the charity's number is SG015649. The Irusl&es have conducted their own review ol the maior risks lo which the charity is exposed, i particular, those related to thè oporaliDns and linanc&s DI the trust and they are satisfied that systems arè in place lo miligaie ihose risks. These procedures are periodically reviewed lo ensure that they still meet the needs ol the trust. Recrultmenl and Appointment of Charity Trustees The chariiy is managed by a Board ol Trustees, elected ID the Board in acwrdance wlh the procedures Outlined in ihe charity's constitution.
Clan Cameron Museum Trustees, Annual Report (¢onllntMdJ Year ended 31 October 2024 Objoctlves and actlvltiO$ The museum's objectives are.. To ensure long.lerm care of the building and Collections and the preservation of the history ol the museum, To maintain a museum and access lo the collections lor the benetit DI the public, and lo improve the visitor experience. To promote the work ol the museum within the local community, To maintain the sustainability ol the museum by increasing income. A¢hlevements and performance The main focus of 2024 in the museum was the International Clan Cameron Gathering, held al Achnacarry on 1-4 August 2024. We spent much ol the season up until the event on maintenance, displays and merchandise, to ensure that the museum was ready to welcome the international Clan. We were also very involved with the Gathering organising commille&, attending many meetings to ensure a great event. The Gathering itself was a great success, and thoroughly enjoyed by all who came, allhouoh the weather was not always kind. In terms of finances, as we had little way ol knowing how many would ultimately attend the Gathering, we had rather overeslimaled how much merchandise would be required in the museum shop, and how many stall we would need. This has meant that we are currently in a positloll, PDSI the Gathering, where w6 have a larger amount ol funds in shop stock bul less money in the bank. We hope this should resolve throughout 2025, as we Sell the surplus ol Gathering merchandise lo this year's visitors. 11 should also be noted that continued rises in minimum wage and electricity costs are putting an increasing strain on museum finances. We have agreed lo up the adult entry lee by £1 from £4 to £5 lor the 2025 season, lo help a little with this pressure. In 2024 we returned the German Field Gun, lully restored, lo ils position outside the museum. We have had a very positive reaction lo ils return and improved condition. We have also pad lor and begun the process of creation ol a new Clan Caffleron Museum website. This was necessary due lo the retirement ol the previous designerlhost, and the lact that his design was not up lo the levels of modern technology lo continue lo update in its current form. The job is being done by a local internel services firm, Lamont Design in Fort William. We should have the new website up and running in 2025. 11 should be an improved source ol information lor our visitors, particularly in in the lacl that we will be able lo change and update il with events elc., lo keep the inlormatitsn current. 11 will also have an improved online shop which we hope will generate more revenue. We are still, albeit slowly, working on the plan lo create a Commando Room extension in the museum. We held a small fundraising auction al the Gathering, raising £200 for the fund. We now have planning permission granted lor the project, ancl we have commissioned a sketched design ol how the space could look once completed. Our aim in 2025 is lo progress the lundiaising to allow us lo begin lo build. Flnanclal review The results ol the charity lor the year report a deficit of £3,855 12023.. surplus £5,808) however, remains on a sound tinancial fooling in terms ol current assets h&ld.
Clan Cameron Museum Truglees. Annual Report (Willn} Year ended 31 October 2024 Flnancial revlew (¢OllllnuedJ ReseFv It is the Trustees. policy lo hold sullicient reserves lo support the level ol activity required to meet the charities objectives. Plan$ for futurè pgtlod8 Our lulure plans are Currently looking at an extension lo the displays relating lo the Commando Basic TraInI Centre al Achnacarry in World War 2, to rellgct ihè importance of this period in history to Achnacarry and the wider Lochaber area. The irustees, annual report was approved on and signed on behalf ol the board ol
Clan Cameron Museum Independent Examlner's Report to the Trustees of Clan Cameron Museum Year ended 31 October 2024 I reporl to the trustees on my examination ol the linan¢iJ slalements ol Clan Cameron Museum Ilhe chaiily'l lor the year encjed 31 October 2024. Responslblllt1è5 and basls of roport As the trustees of the charity you are responsible lor the preparation ol the financial slalem8nls In accordan¢e with the requirement$ ol the Gharilies and Twuslee Investment (Scotlandl Act 2005 Ilhe '2005 Acl'l and the Charities A¢vnI5 Iscollandl Regulations 2006 las amended). You are salisfied that your charity is [1 required by Charity law lo be audited and have chosen instead lo have an inclepèndenl examination. I rew>rt in iespecl ol my examination of the charity's financial statements as carried out under section 4411llcl ol the 2005 Act. In carrying out my examination I have followed the requirements ol Regulation 11 91 the Charities Accounts Iscollandl Re9u5ations 2006 las amended). Independent oxamlner's statement Since the charity has prepared its accounls on an aecruals basis your examiner must be a member of a tMy listed in Reoulaiion 11121 of the Garilies Ae¢rJunls IScollan(Jl Regulations 2006 las amended). I can Gonlirm that l am qualified lo undertake the examination because l am a regislered member ol the Associalion ol Chartered Certified AccouNtarts which is one of the lisleol bodies. I have completed my examination. I cDNIiTm that no matters have come lo my attention giving me cause lo believe that in any material respect.. accounting records were not kept as required by section 4411llal ol the 2005 Act and Regulation 4 01 the Chafilies Accounts (Scotlandl Regulations 2006 las am8ndedl,' or the Ilnancial statements do not aceord with those recoyds., or the financial slalements do not comY wtth the a¢counling r8quirem8nts ol Regulation 8 01 the Charities Accounts Iscotlandl Regulalons 2006 las amended). I have no concerns and have come across no other matters in connection wth the examination lo which attention should ke drav.ln in this report in order lo enabl8 a proper underslanding ol the A Clemer)i Associate< C A. Independeni Examiner 5 Argyll Square Oban Argyll PA34 4AZ
Clan Cameron Museum Statement of Financlal Aclivlties Year ended 31 October 2024 2024 Reslricled funds Total funds Total funds 2022 Unrestricted funds Not& Income and endowments Donations and legacies Charitable activities Other trading activities Total Income 2.382 60,647 2.382 60,647 7,181 49,080 400 63,029 63,029 56,661 Expenditure Expenditure on charitable aclivitles Total expendlture 65,506 65,506 1,378 66,884 50,853 50,853 1.378 66,884 Net {expendllurelllncome 12,4771 11,3781 13,8551 5,808 Transfers between funds 12001 200 Net movèment In funds 12,6771 11,1781 13,8551 5,808 Reconciliation of funds Total funds brought forward Total funds carrled fonvard 171,083 3,119 174,202 168,394 174,202 168.406 1,941 170,347 The slalemenl ol financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The nolès on pages 7 to 15 lonn port of these Ilnanelal Statements.
Clan Cameron Museum Statement of Flnanclal Position 31 October 2024 2024 2023 Not? Flxed a55ets Tangible lixed assets 12 119,531 119,531 Current asset$ Stocks Dpblors Cash al bank and in hand 13 14 43,548 2,370 7,603 35.165 450 20.286 53,521 55,901 Credltors: amounls lalllng due wElhln one year Nel current assets 15 2,705 50,816 1,230 54,671 174,202 TDtal assels less current Ilabllllles 170,347 Net 888ets 170,347 174,202 Funds ol the charlty Restrlcied funds Unreslricled funds 1,941 168.406 3,119 171,083 Tolal charlty funds 16 170,347 174,202 rh&se financial slatemenls iycrc approved by the board uf trustees and au;hJrsed for issue on and are si ngd on behalf ol the boaia b Thfr notès on pages 7 to 15 fom p8rl of thg$e finanelal statgrngnts,
Clan Cameron Museum Notes lo the Financlal Statements Year ended 31 October 2024 General Informatlon The Clan Cameron Museum is a trust which is recognised as a charity in Scotland and is regulated by the Trust Deed. The Trust was founded in 1987. Statement of compll8nce These financial slalemenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the RepLJblic ol Ireland,, the Statement ol Recomrnended Practice applicable lo charities preparing their accounts in accordance Mrilh thg Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 Icharilies SORP IFRS 10211 and the Charities and Trustee Investment Iscollandl Act 2005 and the Charity Accounts (Scotlandl Regulations 2006 las amended). Accounllng pollcles Bas1$ ol preparatlon The financial stalemenls have b&en prepared on the historical cost basis, as modified by the revaluation ol certain financial assets and liabilities and investment properties measured at lair value through income or expenditure. The financial slalements are prepared in sterling. which is the lunclional currency ot the entity. Golng concem There are no material uncertainties aul Ihg charills ability to continue. Dlsclosure exempllons The enlily salisties the criteria ol being a qualil)qng enlily as defined in FRS 102. As such, advantage has been taken ol the following disclosure exemptions available under paragraph 1.12 of FRS 102.. lal No cash flow statement has been presented lor the charity. Ibl Disclosures in respect ol financial instruments have not been presented. Judgements and key sourc9s of estlmatlon uncertainty The preparation ol the financial slalemenls requires management lo make judgements, eslimales and assumptions that affect the amounts reported. Thes6 eslimales and judgements are continually reviewed and are based on experience and other factors, including expectations ol lulure events Ihat are believed lo be reasonable under the circumstances.
Clan Cameron Museum Notes to Ihe Financlal Statements (rontlnu8d) Year ended 31 October 2024 A¢counllng pollcies (¢ontlnued} Fund ac¢ountlng Unrestricted funds are available for use at the discretion ol the Iruslees lo further any ol the charity's purposes. Designated funds are unreslricled funds earmarked by the trustees lor particular lulure project or commitment. Restricted funds are subjected lo reslriclions on their expenditure declared by the donor or through the terms of an appeal, and fall into one ol two sub-classes.. reslricled income funds or endowment funds. Income All income is included in the statement ol financial activities when enliilemenl has passed lo the charity, il is probable that the economic benefits associated with the transaction will flow lo the charity arKI the amount can be reliably measured. The following specific policies aitr applied to particular categories ol income.. income trom donations or grants is renised when there is evidence ol entitlement to the gift, receipt is probable and ils amount can be measured reliably. legacy income is recogni5ed when receipt is probable and enlillernent is established. income from donated goods is measured al the lair value ol the goods unless this is impracticle lo measure reliably, in which case the value is derived from the Cost lo the donor or the eslimaled resale value. Donated lacililies and services are recognised in the accounts when received il th& value Can be relialj'ly measured. No amounts are included for the contribution ol general volunteers. income from contracts lor the supply ol services is recognised with the delivery ol the ¢onlracled service. This is classified as unreslricled funds unless there is a contractual requir6ment lor it lo bo spent on a particular purpose and returned il unspent, in which case il may be regarded as reslricled. Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be lully recovered, and is classified under heaclings ol the slalement ol financial activities lo which it relates.. expenditure on raising funds includes the costs ol all fundraising aclivilies, events, non- charitable trading activities, and th& sale of donated goods. expenditure on charitable activities includes all costs in¢urred by a charity in undertaking activities Ihal further it5 charitable aims for the benefit ol ils beneficiaries, including those support costs and costs relating lo the governance ol the charity apportioned lo charitable activities. other expenditure includes all expenditure that is neither related lo raising funds lor the charity nor part ol its expenditure on charitable aclivilies.
Clan Cameron Museum Notes lo the Flnanclal Statements {contlnued} Year ended 31 October 2024 Accountlng pollcles (Conllnued) Expendlture (COlllInd) AII costs are allocated to expenditure categories reflecting the use ol the resource. Direct costs atlribulable lo a single activity are allocated directly to that aclivily. Shared costs are apprortioned between the activities they contribute lo on a reasonable, jusliliable and consistent basis. Tangib19 assets Tangible assets are initially recorded al cost. and subsequently slated at cost less any accumulated depreciation and impairm&nl losses. Any tangible assets earried at revalued amounts are recorded al the lair value al the dale ol revaluation less any subsequent accumulated depreciation and subsequent accumulated impaiimenl losses. An increase in the carrying amount ol an asset as a result ol a revaluation, is recognised in other recognised gains and105ses, unless il reverses a charge for impairment that has previously been recognised as expenditure wlhin the slalement ol financial aclivilies. A decrease in the carrying amount ol an asset as a result ol revaluation. is recognised in other reeognised gains and losses, except lo which it ollsels any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement ol financial activities. Depreclatlon Depreciation is calculated so as to write ofl the cost or valuation ol an asset. less Ils residual vaSue, over the useful economic life ot that asset as follows.. Plant and machinery Fixtures and fillings 15 /¢ slraighl line 15 /¢ slraighl line Impalrment of f5xed assets A review lor indicators ol impairment is carrièd out al each reporting dale, with the recoverable arnounl being eslimaled where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed lor possible reversal al each reporting date. For the purposes ol impairment testing, when il is not possible lo estimate the recoverable amount ol an individual asset, an eslimale is made ol the recoverable amount of the cash- generating unil lo which the asset belongs. The cash-generatlng unil is the smallest identifiable group ol assets that includes the asset and gen&rales cash inflows that largely independent ol the ¢ash inflows from other assets or groups ol assets. For impairment lesling ol goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expect&d lo benefit from the synergies ol the cornbinalion, irrespective ol whether other assets or liabilities ol the charity are assigned lo those units. Stocks Stocks are measured al the lower ol cost and eslimaled selling price less costs lo complete and sell. Cost includes all costs of purchase, costs of conversion and olher costs incurred in bringing the stock lo ils present location and condition.
Clan Cameron Museum Notes to the Flnancial Statements IGOntlnued? Year ended 31 Oclober 2024 Accountlng policie$ (eontlnuéd) Flnancial instruments A linancial asset or a financial liability is recogni5ed only when the charrty becomes a party lo the conlraclual provisions ol the instrument. Basic financial instruments are inilially recognised al the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their lair value can otherwise be measured reliably, the investment is subsequently measured al lair value wrth changes in lair value recognised in incone and expenditure. All other such investments are subsequently measured al cost less impairmenl. Olher financial instruments, including derivatives, are initially recognised at fair value, unless payment lor an asset is deferred beyond normal business terms or financed al a rale ol inleresi that is not a market rate, in which case the asset is measured at the present value ol the lulure payments discounted at a market rate ol interest lor a similar debt instrument. Other financial instruments are subsequently measured al lair value, with any changes recognised in the statement of financial aclivilies, with the exception ol hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised cost are reviewed lor objective evidence ol impairment al the end ol each reporting date. If there is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in the stalement ol financial activities in which the initial gain was recognised. For all equity inslrumenis regardles5 01 significance, and olher financial assets that are individually significant, Ih&se are assessed individually lor impairrnenl. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any Teversals ol impairmenl are recognised immediately, lo the exlenl that the reversal does not result in a carrying amount ol the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donatlons and legacios Unrestricted Funds Restricted Total Funds Funds 2024 Donallons Donations 2,382 2,382 10-
Clan Cameron Museum Notes to the Financial Statements fcofft¥iinu¢d) Year ended 31 October 2024 Donatlons and legacies (¢onllnued) Unrestrlcled Funds Restricted Total Funds Funds 2024 Grants Slronelairg Community Fund 2,382 2,382 Unrestricted Funds Reslricled Total Funds Funds 2023 Donatlon$ Donations 1,181 1,181 Granls Slronelairg Community Fund 6,000 6,000 6,000 1,181 7,181 Charltable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Sales Admissions 52,371 8,276 52,371 8,276 60,647 39,841 9,239 39,841 9,239 49,080 60,647 49,080 Other tradlng actlvltles Reslricled Total Funds Funds 2024 Reslricled Total Funds Funds 2023 Fundraising events 400 4QO 11
Clan Cameron Museum Notes lo the Financlal Slatements (¢ontlnuEd? Year ended 31 Oclober 2024 Expenditure on charSlable activlties by fund type Unrestricted Funds Reslricled Total Funds Funds 2024 General activities Support costs 64,366 1,140 65,506 1,378 65,744 1.140 1,378 66,884 Unrestricted Funds Reslricled Total Funds Funds 2023 General activities Support costs 46,464 1,008 47,472 3,381 49,845 1,008 3,381 50,853 Expenditure on charllable actlvitles by a¢llvlty type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 General activities Governance costs 65,744 65,744 1,140 66,884 49,845 1,008 1,140 1,140 65,744 50,853 Indepèndenl examlnatlon fees 2024 2023 Fees payable to the independent examiner for.. Independent examination ol the financial statements 1,080 1,008 10. Staff cosls The total staff costs and employee benefits lor the reporting period are analysed as follows.. 2024 2023 Wages and salaries 20,762 15,931 The avgrage head count Df employees during the year was 512023.. 41. No employee received employee b&nefils ol more than £60,000 during the year12023.' Nill. Key Management Personnel The key management personnel ol the charity comprises the Trustees. 12.
Clan Cameron Museum Notes to the Flnancial Statements (contlnuedj Year ended 31 October 2024 11, Trustee remuneratlon and expenses The charity trustees were not paid and did not receive any remuneration, benefi15 in kind or reimbursement of expenses in their capacity as trustee during the year. No trustee received payment lor professional or other services supplied lo the charity. 12. Tanglble lixed asset$ Long Freehold leasehold Plant and Fixtures and property property machinery Total Cost At 1 Nov 2023 and 31 Oct 2024 85,938 33,593 261 2,745 122,537 Depreclallon Al 1 Nov 2023 and 31 Oct 2024 261 2,745 3,006 Carrylng amount Al 31 Oct 2024 85,938 33,593 119,531 Al 31 Ocl 2023 85,938 33,593 119,531 13. Stocks 2024 2023 Finished goods and goods lor resale 43,548 35,165 14. Debtors 2024 2023 Trade debtors Prepayments and accrued income 2,370 356 2,370 450 15. Credltors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred income Social security and other taxes 2,644 61 1,169 61 2.705 1,230 13-
Clan Cameron Museum Notes to Ihe Financial Statements (Gontlnued) Year ended 31 October 2024 16. Analysls of charltable funds UnrestrScted funds At Transfers 31 Oct 2024 Al 1 Nov 2023 Income Expenditure General funds 171,083 63,029 165,5061 12001 168,406 At Transfers 31 Ocl 2023 Ai 1 Nov 2022 Income Expenditure General funds 168,294 50,261 147,4721 171.083 The unreslricled funds represent the general funds which have not been designated lor other purposes and are available for use al the discretion ol the Iruslees in furtherance of the general objectives ol the charity. Restricted funds At Transfers 31 Oct 2024 Al 1 Nov 2023 Income Expenditure Commando Room Fund Sironelairg Community Fund 500 200 700 2,619 11,3781 11,3781 1.241 3,119 200 1,941 Al Transfers 31 Ocl 2023 Al 1 Nov 2022 Income Expenditure Cornmando Room Fund Stronelairg Community Fund 100 400 500 6,000 13,3811 13,3811 2,619 3,119 100 6,400 Commando Room Fund Over recent years lund5 have been transferred to a separat& bank account for fundraising for an extension tts create a Commando RODM. In 2024 there was initial payment lor design lees. Stronelalg Communlty Fund A grant of £6,ODO was received in the prior year lor the restoratitsn ot WW1 historical artilacls, £3,381 was expended in that year and a further £1,378 was incurred in 2024 with the balance being carried lOard lor lulure use. 14-
Clan Cameron Museum Notes to the Financial Stalemenls (conMnu8d} Year ended 31 Oclober 2024 17. Analys1$ of net assets between fund$ Unreslricled Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 119,531 51,580 12,7051 168,406 119,531 53,521 12.7051 170,347 1,941 1,941 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed asseis Current assets Creditors less than 1 year Net assets 119,531 52,782 11,23DI 171,083 119,531 55.901 11,2301 174,202 3,119 3,119
Clan Cameron Museum Management Informatlon Year ended 31 Oclober 2024 The followlng pages do not fomi part of the tinan¢ial $tatement$. 16-
Clan Cameron Museum Detalled Statement ol Flnancial Activities Year ended 31 October 2024 2024 2023 Income and endowments Donalions and legacles Donations Stronelairg Community Fund 2,382 1,181 6,000 2,382 7,181 Charltable actlvltles Sales Admissions 52,371 8,276 60,647 39,841 9,239 49,080 Other tradlng actlvities Fundraising events 400 Total Income 63,029 56,661 Expenditure Expendllure on Charitable actlvilie$ Purchases Wages and salaries Light and heat Repairs and maintenance Insurance Legal and professional lees Telephone Other ollice costs Payroll bureau Bank & credit card charges Donations 30,857 20,762 4.612 2,613 1,032 1,140 748 3,266 422 974 458 19,808 15,931 2,123 4,256 1,198 1,008 1,273 2,650 394 2,190 22 66,884 50,853 Total expenditure 66,884 50,853 Nel lexpendilurellincome 13,8551 5,808 17-
Clan Cameron Museum Notes to the Detalled Slalement of Financlal Activitles Year ended 31 October 2024 2024 2023 Expendlture on charltable actlvllies General actlvltles Actlvlties undertaken directly Purchases Wages & salaries Light & heal Repairs & maintenance Insurance Telephone & website Other ollice expenses Payroll bureau Bank & credit card charges Donations 30,857 20,762 4,612 2,613 1,032 748 3,266 422 974 458 19,808 15,931 2,123 4.256 1,198 1,273 2,650 394 2,190 22 65,744 49,845 Govemance costs Accountancy lees 1,140 1,008 Expendlture on charltable actlvllles 66,884 50,853 18-