2025-10-31-accounts - Clan Cameron's Charitable Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

CHARITY REGISTRATION NUMBER: SC015649

Clan Cameron Museum

Unaudited Financial Statements 31 October 2025

R A CLEMENT ASSOCIATES CHARTERED ACCOUNTANTS Chartered accountants

5 Argyll Square Oban Argyll PA34 4AZ

Clan Cameron Museum

Financial Statements

Year ended 31 October 2025

	Page
Trustees’ annual report	1
Independent examiner's report to the trustees	4
Statement of financial activities	5
Statement of financial position	6
Notes to the financial statements	7
The following pages do not form part of the financial statements
Detailed statement of financial activities	16
Notestothedetailedstatementoffinancialactivities	a7

Clan Cameron Museum

Trustees’ Annual Report Year ended 31 October 2025

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 October 2025.

Reference and administrative details

Registered charity name	Clan Cameron Museum
Charity registration number	$C015649
Principal office	Achnacarry
	Spean Bridge
	Inverness-shire
	PH34 4EJ
The trustees
	Lord Cameron of Lochiel
	C M Trotter
	Professor D H Cheape
	J B Thomson
	W A Cameron
	L Maundrell
Independent examiner	Angus MacGillivray F.C.C.A.	of	R	A Clement Associates C.A.
	5 Argyll Square
	Oban
	Argyll
	PA344AZ

Structure, governance and management

Organisational Structure

Clan Cameron Museum is a trust which is recognised as a charity in Scotland and is regulated by the Trust Deed. The trust was established by Trust Deed executed on 3 December 1986 and the charity's number is SC015649.

The trustees have conducted their own review of the major risks to which the charity is exposed, in particular, those related to the operations and finances of the trust and they are satisfied that systems are in place to mitigate those risks. These procedures are periodically reviewed to ensure that they still meet the needs of the trust.

Recruitment and Appointment of Charity Trustees The charity is managed by a Board of Trustees, elected to the Board in accordance with the procedures outlined in the charity's constitution.

ede

Clan Cameron Museum

Trustees’ Annual Report (continuea)

Year ended 31 October 2025

Objectives and activities

The museum's objectives are:

To ensure long-term care of the building and collections and the preservation of the history of the museum,
To maintain a museum and access to the collections for the benefit of the public, and to improve the visitor experience,
To promote the work of the museum within the local community,
To maintain the sustainability of the museum by increasing income.

Achievements and performance

2025 was a steady year for the museum. Visitor numbers were good, just a little down from 2024 and with a more even spread of overseas Camerons throughout the season - as they were not all concentrated in August as they had been for the gathering the previous year.

Discussion continued regarding the potential extension to the museum. Planning permission is granted but funding and usage are still to be decided by the trustees. We had a consultation with David Rounce, project manager from Glencoe Folk Museum, during the year to assist with the decision making. The outcome is continuing into the 2026 season.

We hosted three small but fascinating events during the year:

e« Lamhan Scotland attended to study Bonnie Prince Charlie's waistcoat and measure it for their project. From this they ascertained that this is the genuine article, and that the prince was likely to have been 5'10" tall.
¢ We offered a tour of the Beech Avenue for Jacobite Week.
« Mike Taylor hosted an event where he detailed the history of the Cameron Field Gun.

Financial review

The results of the charity for the year report a surplus of £2,145 (2024: deficit £3,855) however, remains on a sound financial footing in terms of current assets held

Reserves

It is the Trustees’ policy to hold sufficient reserves to support the level of activity required to meet the charities objectives.

Plans for future periods

Our future plans are currently looking at an extension to the displays relating to the Commando Basic Training Centre at Achnacarry in World War 2, to reflect the importance of this period in history to Achnacarry and the wider Lochaber area.

Clan Cameron Museum

Trustees’ Annual Report (continuea)

Year ended 31 October 2025

==> picture [438 x 116] intentionally omitted <==

----- Start of picture text -----
The trustees’ annual report was approved on NRE and signed on behalf of the board of
trustees by:
PA
ZL AM
Lord Cameron of Lochiel
Trustee
----- End of picture text -----

~3'«

Clan Cameron Museum

Independent Examiner's Report to the Trustees of Clan Cameron Museum

Year ended 31 October 2025

| report to the trustees on my examination of the financial statements of Clan Cameron Museum (‘the charity’) for the year ended 31 October 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (the ‘2005 Act’) and the Charities Accounts (Scotland) Regulations 2006 (as amended). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination.

| report in respect of my examination of the charity's financial statements as carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination | have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Independent examiner's statement

Since the charity has prepared its accounts on an accruals basis your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). | can confirm that | am qualified to undertake the examination because | am a registered member of the Association of Chartered Certified Accountants which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention giving me cause to believe that in any material respect: 1. accounting records were not kept as required by section 44(1)(a) of the 2005 Act and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006 (as amended); or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the ft be reached. Siew MacGillivray F.C.C.A. of R A Clement Associates C.A. Independent Examiner

5 Argyll Square Oban Argyll PA34 4AZ

wha

Clan Cameron Museum

Statement of Financial Activities

Year ended 31 October 2025

			2025		2024
		Unrestricted	Restricted
		funds	funds	Totalfunds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	1,165	111	1,276	2,382
Charitable activities	5	51,958	-	51,958	60,647
Total income		53,123	111	53,234	63,029
Expenditure
Expenditure on charitable activities	6,7	51,089	-	51,089	66,884
Total expenditure		51,089	-	51,089	66,884
Net income/(expenditure) and net
movement in funds		2,034	111	2,145	(3,855)
Reconciliation of funds
Total funds brought forward		168,406	1,941	170,347	174,202
Totalfundscarriedforward		170,440	2,052	172,492	170,347

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

The notes on pages 7 to 14 form part of these financial statements.

~5-

Clan Cameron Museum

Statement of Financial Position

31 October 2025

		2025	2024
	Note	£	£
Fixed assets
Tangible fixed assets	11	119,531	119,531
Current assets
Stocks	12	34,908	43,548
Debtors	13	385	2,370
Cash at bank and in hand		19,164	7,603
		54,457	53,521
Creditors: amounts falling due within one year	14	1,496	2,705
Net current assets		52,961	50,816
Total assets less current liabilities		172,492	170,347
Net assets		172,492	170,347
Funds ofthe charity
Restricted funds		2,052	1,941
Unrestricted funds		170,440	168,406
Totalcharityfunds	15	172,492	170,347

Thes¢WP finPLe,iis! andstatements are signedwere on behalfapproved of theby boardthe by:board of trustees and authorised for issue on

==> picture [64 x 27] intentionally omitted <==

----- Start of picture text -----
_pt ZL
----- End of picture text -----

Lord Cameron of Lochiel Trustee

The notes on pages 7 to 14 form part of these financial statements.

-6-

Clan Cameron Museum

Notes to the Financial Statements

Year ended 31 October 2025

General information 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 compliance

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).

Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the charity.

(b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

mi J

Clan Cameron Museum

Notes to the Financial Statements (continuea)

Year ended 31 October 2025

Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Income

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

e income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impracticle to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliabily measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Expenditure

Expenditure is recognised on an accruals basis asa liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

«Gis

Clan Cameron Museum

Notes to the Financial Statements (continuea)

Year ended 31 October 2025

3. Accounting policies (continued)

Expenditure (continued)

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apprortioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery - 15% straight line Fixtures and fittings - 15% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

« Gi-

Clan Cameron Museum

Notes to the Financial Statements (continuea)

Year ended 31 October 2025

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at 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 to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Donations and legacies

	Unrestricted	Restricted	Funds
	Funds	Funds	2025
	£	£	£
Donations
Donations	1,165	111	1,276

«tO

Clan Cameron Museum

Notes to the Financial Statements (continued)

Year ended 31 October 2025

4.	Donations and legacies (continued)
			Unrestricted	Restricted	Total		Funds
			Funds	Funds			2024
			£	£			£
	Donations
	Donations		2,382	~			2,382
5.	Charitable activities
		Unrestricted	Total Funds	Unrestricted	Total		Funds
		Funds	2025	Funds			2024
		£	£	£			£
	Sales Admissions	43,635 8,323	43,635 8,323	52,371 8,276		52,371 8,276
		51,958	51,958	60,647		60,647
6.	Expenditure on charitable activities byfund type
			Unrestricted	Restricted	Total	Funds
			Funds	Funds			2025
			£	£			£
	General activities		49,829	-	49,829
	Support costs		1,260	-			1,260
			51,089	~	51,089
			Unrestricted	Restricted	Total		Funds
			Funds	Funds			2024
			£	£			£
	General activities		64,366	1,378	65,744
	Support costs		1,140	~			1,140
			65,506	1,378	66,884

7. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly Support costs		2025	2024
	£	£	£	£
General activities	49,829	-	49,829	65,744
Governance costs	~	1,260	1,260	1,140
	49,829	1,260	51,089	66,884

-11-

Clan Cameron Museum

Notes to the Financial Statements (continuea)

Year ended 31 October 2025

8.	Independent examination fees
		2025	2024
		£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements	1,260	1,080
9.	Staffcosts

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2025	2024
Wagesandsalaries	: 16,949	£ 20,762

Wages and salaries

The average head count of employees during the year was 3 (2024: 5).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

Key Management Personnel

The key management personnel of the charity comprises the Trustees.

10. Trustee remuneration and expenses

The charity trustees were not paid and did not receive any remuneration, benefits in kind or reimbursement of expenses in their capacity as trustee during the year. No trustee received payment for professional or other services supplied to the charity.

11. Tangible fixed assets

			Long
		Freehold	leasehold	Plant and	Fixtures	and
		property	property	machinery	fittings		Total
		£	=	£		£	£
	Cost
	At 1 Nov 2024 and
	31 Oct 2025	85,938	33,593	261	2,745		122,537
	Depreciation
	At 1 Nov 2024 and
	31 Oct 2025	-	-	261	2,745		3,006
	Carrying amount
	At 31 Oct 2025	85,938	33,593	-		-	119,531
	At 31 Oct 2024	85,938	33,593	-		-	119,531
12.	Stocks
					2025		2024
					£		£
	Finishedgoodsandgoodsforresale				34,908		43,548

«42

Clan Cameron Museum

Notes to the Financial Statements (continued)

Year ended 31 October 2025

a

13.	Debtors
		2025	2024
		£	£
	Prepayments and accrued income	385	2,370
14.	Creditors: amounts falling due within one year
		2025	2024
		£	£
	Accruals and deferred income	1,444	2,644
	Social security and othertaxes	52	61
		1,496	2,705

15. Analysis of charitable funds

Unrestricted funds

							At
		At1Nov	Nov2024 £	Income £	Expenditure £	Transfers £	31 Oct2025 £
General	funds		168,406	53,123	(51,089)	~	170,440
							At
		At1Nov	Nov2023 £	Income £	Expenditure £	Transfers £	31 Oct2024 £
General	funds		171,083	63,029	(65,506)	(200)	168,406

The unrestricted funds represent the general funds which have not been designated for other purposes and are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

i

me fc ae

Notes to the Financial Statements (continuea)

Clan Cameron Museum

Year ended 31 October 2025 aterrar e na ntal

15. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
					At
Commando Room Fund	At1Nov2024 £ 700	Income 7a 111	Expenditure e -	Transfers £ -	31 Oct 2025 £ 811
Stronelairg Community Fund	1,241	-	-	-	1,241
	1,941	111	-	-	2,052
					At
	At 1 Nov 2023	Income	Expenditure	Transfers	31 Oct 2024
	£	£	£	5	£
Commando Room Fund	500	-	-	200	700
Stronelairg Community Fund	2,619	-	(1,378)	-	1,241
	3,119	-	(1,378)	200	1,941

Commando Room Fund

Over recent years funds have been transferred to a separate bank account for fundraising for an extension to create a Commando Room. In 2024 there was initial payment for design fees.

Stronelaig Community Fund

A grant of £6,000 was received in the prior year for the restoration of WW1 historical artifacts, £3,381 was expended in that year and a further £1,378 was incurred in 2024 with the balance being carried forward for future use.

16. Analysis of net assets between funds

Analysis of net assets between funds
	Unrestricted Funds	Restricted Funds	Total Funds 2025
Tangible fixed assets Current assets Creditors less than 1 year	£ 119,531 52,405 (1,496)	z= - 2,052 -	£ 119,531 54,457 (1,496)
Net assets	170,440	2,052	172,492
	Unrestricted Funds	Restricted Funds	Total Funds 2024
	£	£	£
Tangible fixed assets Current assets	119,531 51,580	- 1,941	119,531 533521
Creditors less than 1 year	(2,705)	-	(2,705)
Netassets	168,406	1,941	170,347

ee

me es

Clan Cameron Museum

Management Information

Year ended 31 October 2025

The following pages do not form part of the financial statements.

cae= I RT

-15-

Clan Cameron Museum

Detailed Statement of Financial Activities

Year ended 31 October 2025 a

==> picture [436 x 396] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |£|£| |Income|and|endowments| |Donations|and|legacies| |Donations|1,276|2,382| |Charitable|activities| |Sales|43,635|52,371| |Admissions|8,323|8,276| |51,958|60,647| |Total|income|53,234|63,029| |Expenditure| |Expenditure|on|charitable|activities| |Purchases|20,668|30,857| |Wages|and|salaries|16,949|20,762| |Light and|heat|2,987|4,612| |Repairs|and|maintenance|741|2,613| |Insurance|979|1,032| |Legal|and|professional|fees|1,260|1,140| |Telephone|431|748| |Other|office|costs|6,355|3,266| |Payroll|bureau|453|422| |Bank|&|credit|card|charges|266|974| |Donations|-|458| |51,089|66,884| |Total|expenditure|51,089|66,884| |Net|income/(expenditure)|2,145|(3,855)|

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

Total expenditure

-16-

Clan Cameron Museum

Notes to the Detailed Statement of Financial Activities

Year ended 31 October 2025

rt

==> picture [434 x 246] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |£|£| |Expenditure|on|charitable|activities| |General|activities| |Activities|undertaken|directly| |Purchases|20,668|30,857| |Wages|&|salaries|16,949|20,762| |Light|&|heat|2,987|4,612| |Repairs|&|maintenance|741|2,613| |Insurance|979|1,032| |Telephone|& website|431|748| |Other|office|expenses|6,355|3,266| |Payroll|bureau|453|422| |Bank|&|credit|card|charges|266|974| |Donations|-|458| |49,829|65,744| |Governance|costs| |Accountancy fees|1,260|1,140| |Expenditure on|charitable|activities|51,089|66,884|

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

-17-