Fife Folk Museum Trust Scottish Charity No: SC020920 Annual Report & Financial Statements For the Year Ended 31 March 2025
Fife Folk Museum Trust Scottish Charity Number: SC020920 Annual Report & Statement of Account For the y8ar ended 31 March 2025 Contents Page Trustees, Annual Report Independent Examiner's Report Statement of Receipts and Payments Statement of Balances 10 Notes to the Accounts
Flfe Folk Museum Trust Scottish Charity Number: SC020920 Trustees, Annual Report For the year anded 31 March 2025 The charity trustees present their report together with the financial statements and the Independent Examiner's report for the year ended 31 March 2025. Referenc8 & Administrative Infomiation Charity Name: Fife Folk Museum Trust Charity Number: SC020920 Registered Office & Principal Address: High Street, Ceres, Fife KY15 5NF Trustees: Structure Governance & Mana ement Fife Folk Museum Trust was established in May 1992 and is governed by its Deed of Trust and constitution last amended in 2017. The members who have the right to attend the annual general meeting (AGM) elect who can serve on the Board of Trustees and take decisions in relation to the constitution. The Board of Trustees are responsible for the activities and the general management and administration of the charity, in particular they are responsible for monitoring'the financial position of the Trust. The members of the charity are eligible to be elected at the AGM and serve until the next AGM. The Board of trustees retire at each AGM and can stand for re*lection. The maximum number of the Board membersltrustees is 12.
Flfe Folk Museum Trust Scottish Charity Number: SC020920 Trustees, Annual Report For the year ended 31 March 2025 Ob ectlves & Activities The Objectives of the Fife Folk Museum Trust are: (a) To preserrfe and display objects from the past social, economic and cultural life of the County of Fife (b) To acquire, document, conserve, exhibit and interpret these objects for the benefit of present and future generations (c) To maintain a balance between these functions in the Museum's future development (d) To promote the Museum as a visitor venue to as wide range of people as possible with particular emphasis on local and special interest groups and educational establishments. To achieve the above objectives the Trust operates the Fife Folk Museum in Ceres and holds a number of children's events, workshops and a Summer Fayre during the year. Achievements & Performance VISITOR NUMBERS Visitor numbers are slightly down on last year at 3229 compared to 3378. It is clear that our exhibitions prove to be popular with the g8neral public and hope that next year's figure improve on this year. There ,re. 222 Outreach visits this year and thanks go t(} or outreach School visits and for talks to other organisations. Also thanks tu ii)I piudubing the visitor statistics again Ll bib year. The Coffee Shop numbers were down on the previous year from 7080 to 6462. The cumulative numbers covering all categories was a total of 9,913 down some 800 visitors in 2023. VOLUNTEERS. As usual we have need more volunteers and have managed to recruit a few new very enthusiastic ones this season. But we are still need more as we have had unfortunately to close the Museum on a few occasions during this season, as we couldn't cover the reception duty. Volunleer Meetings have been held monthly which have been very positive allowing us to plan activities during the season, including children's activilies and attending local events such as craft fairs.
Flfe Folk Museum Trust Scottish Charity Number.. SC020920 Trustees, Annual Report For the year ended 31 March 2025 We wish to thank all our volunteers for all their hard work and hope they will continue to support the museum with our future activities. TREASURER'S REPORT Although we had a deficit this year, there were payments which will not recur. The accounts for 2023- 24 have been signed off by the Trustees and the accountant, and sent to Fife Council, with an annual report, and will also e sent to OSCR. ELECTION OF OFFICE-BEARERS. was Ila ppy to remain as Chairperson, as Treasurer, rls SeLieLdfy diid IaS Minutes Secrptari and Ilie oilier I rustees are haprjy Ili (.C)liiinua. Their re-elerti(,'Ii L'i i Lllui Wdb proposed by and seconderl by ha8 agreed to become a I rusLee, proposed by iiiid sgLuiided by EXHIBITIONS We have also been able to plan all of next year's exhibitions, which should give us a flying start for getting them set up. Our main Exhibition in the PETERKIN ROOM for 2025-26 is "unplugged" life with no Electricity and it has been agreed that this will remain in place for 2026-27 Season. In the SEYMOUR ROOM To complement the Ljnpliigrygd Fxhibition it was agreed that we would have an art installation titled "Half Light" byan artist from St Monans who is well known to the Museum and this exhibition will ruli until tliLJ eiid of October 2025. In 2026 this will be replaced by an exhibition of children's toys. THE COTTAGE ROOM As always this room is popular wilh adults and children alike and is used on many OGcasions as a baGkdrop for storytelling ky THE HERITAGE ARTS HUB as always this area proves to be popular with its display of agricultural equipment and blacksmiths tools. We also have a dressing up area inspired by The Pilgrims Way (Ceres is the last stop on the way to St Andrews). THE WEIGH HOUSE AND DUNGEON remains the same and displays a comprehensive collection of weighing machines, v4eights and measures (include g wooden dry measures for grain, copper and brass measures for liquid and a surveyors chain.
Fife Folk Museum Trust Scottish Charity N umber: SC020920 Trustees, Annual Report For the year ended 31 March 2025 MUSEUM SHOP. The shop has continued to be popular with all our visitors and is continuing to raise funds for the museum. We are still showcasing local artists work and thank them for continuing to allow us to We also need to thank all the volunteers who continue to make items for us to sell, we have become known for having different stock from other shops in the area. MONTHLY TALKS. Our monthly talks hav8 b88n very popular this season and have often been over subscribed but all who have come on the night have been fitted in, extra chairs have been found! We wish to thank Margaret Cruickshank for organising them again this y8ar. Margaret has been arranging the talks for several years and has asked us to find a new volunteer to take over from her for nexl season. MAINTENANCE As all telephony is moving to the cloud we were required to change our existing analogue system to digital this gave us a problem in that our Intruder and Fire Alarm systems were not compatible with digital. With the help of a massive funding from Cupar Rotary and new Intruder Alarm system was installed at the cost of £4,052. COFFEE SHOP. We were very sorry to lose and his staff and we reluctantly accepted the termination of his contract but wish him well In his future endeavours. l am sure everyone will join me in saying that it has been a pleasure working with them and they will be sorely missed. We advertised for new licensee and were lucky to find Calum and Caro (trading as Pineda Murray) who took over The Coffee Shop in December 2024 they have settled in well and are proving very popular with customers and volunteers. SPOONCARVING WORKSHOPS. These monthly sessions continue to be extremely popular and are mostly full booked If not oversubscribed. We also increased the cost to £20 per person. We are very grateful to Colin for his continued support.
Fife Folk Museum Trust Scottish Charity Number: SC020920 Trustees, Annual Report For the year ended 31 March 2025 OUTREACH ACTIVITIES. We have continued to attend local activities, such as Coffee Mornings, Craft Fairs and Chidren's Activities in the local area. We have enjoyed being out and about meeting people and infonning them about the museum and the activities in Ceres. Raising the profile of the Museum and raising funds by taking items from the shop with us, we have raised over £250.00. We have undertaken a number of school visits (Thanks to and had some schools visit us at the Museum. for their work in this area) Over the winter months we held warm hublmemory sessions for 4 groups from care homes and Age Concern. This was funded by a grant from Cupar Arts Society. This helped to cover the cost of heating and lighting and also the cost of supplying souplsandwich coffeeltea and cake. It is planned to hold these sessions again at the end of the 2025 Season Flnanclal Revlew With income of £28,481 and expenditure of £36.592 the Trust recorded a deficit of £8,111 for the year. The deficit was funded from reserves brought forward from the previous year so that at the 31 March 2025 the Trust held total funds of £8,525. It is the policy of the trustees to hold 12 months running costs, or £35,000, in reserve to ensure liabilities can be settled as they fall due and to provide for unforeseen expendilure. With reserves of £8,314 this target had not been met and the trustees will consider ways to build up the reserves in the future. This report was approved by the charity truslees on . by: and signed on their behalf
Fife Folk Museum Trust Scottish Charity Number., SC020920 Independent Examiner's Report For the year ended 31 March 2025 I report on the financial statements of the Fife Folk Museum for the year ended 31 March 2025 which are set out on pages 910 12. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities and Truslee Investment (Scotland) Act 2005 ("the 2005 Act") and the Charities Accounts (Scotland) Regulations 2006 ("the 2006 Regulations"). I have satisfied myself that the charity is not subject to audit under Regulation (10){1)(d) of the 2006 Regulations and is eligible for independent examination. I have therefore examined the charity s accounts as required under section (44)(1)(c} of the 2005 Act and Regulation 11 of the 2006 Regulations. In carrying out my examination I have followed the guidance issued to independent 8xaminers by the Office of the Scottish Charity Regulator (OSCR). My role is to state whether any material matters have come to my attention giving me cause to believe: that accounting records were not kept as required by section 44{1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations; or that the accounts do not accord with thos8 records: or that the accounts do not comply with the accounling requirements of Regulation 9 of the 2006 Regulations; or that there is further information needed for a proper understsnding of the accounts. Independent examlner's statement I have completed my examination and, apart from the matter mentioned below, I have no concerns in respect of any of the areas listed above and I have found no other matters that require drawing to your altention. I draw your attention to the fact that a cash book and all the bank statements for the 100 Club account were not made available to me so I was unable to verify the income and expenditure associated with the 100 Club. The result is that the 100 Club income is reported net of expenses with no associated expenditure, Gontrary to the requirements of The Charities Accounts (Scotland) Regulations 2006. Date:
Fife Folk Museum Trust Scottish Charity Number: SC020920 Statement of Receipts and Payments For the year ended 31 March 2025 Unrestricted Funds Restricted Funds 2025 Totsl 2024 Total Note Recelpts from: Donations Grants Charitable activities Tea room rent 418 4,752 5.170 4,548 11,579 6.050 1.034 30 5,673 5.156 14,394 3,500 1,782 47 4,548 11,579 6,050 1,034 30 70 Fundraising Bank interest Other income Total recelpts 70 174 23,729 4,752 28,481 30,726 Payments on: Charitable activities Fundraising Indp8nd8nt éxamination Purchase of laptop computer Total payments 30,458 4,902 35,360 36.888 533 433 799 433 420 799 31,690 4,902 36,592 37,841 Surplusl(deficit) (7,961) (150) (8,111) (7,115)
Flfe Folk Museurn Trust Scottish Charity Number. SC020920 Statement of Balances At 31 March 2025 Unrostrlcted Funds Restrlctsd Funds 2025 Total 2024 Total Opening bank & cash balances Surplusl(deficit) Closing bank and cash balances 16,275 (7,9611 8,314 361 {150) 211 16,636 (8.1111 8.525 23,751 (7.115) 16.638 2025 Total 2024 Total Assets Museum building Museum contents including Artilacts (insured value) Stock Unreslricted fund 160,000 160,000 140,000 140,000 2,500 2,551 2,500 1,752 Equipment Liabilitia8 Th8r8 w8re no liabilities at 31 March 2025 ADDroved bv the charitv trustees on and signed on their behalf by: 10
Fife Folk Museum Trust Scottish Charity Number: SC020920 Notes to the Financial Statements For the year ended 31 March 2025 1. Accounting Policies These accounts have been prepared on the Receipts & Payments basis in accordance with: {a) The Charities & Trustee Investment Act (Scotland) Act 2005, and (b) The Charities Accounts (Scotland> Regulations 2006 (as amended). Income and expenditure are recognised when received or paid out. The Charity maintains:. (a) A general unrestricted fund for the day-to4ay running of the charity which is expendable at the discretion of the management committee in furtherance of the charity's objects, and (b) A number of restricted funds that consist of monies received from sponsors which relate to a specific project and are donated to fund a particular purpose (see note 3). 2. Trustee Remuneratlon & Expenses None of the trustees or connected persons received remuneration from the charity. No out-of-pocket expenses were paid to trustees. 3. Movement In Restrlcted Funds During the year the charity mainlained the following 3 restricted income funds: 1. Children's events funded by the Tesco Community Fund 2. Sessions for adults in Care homes funded by The Arts Society 3. The purchase of a new alarm system funded by the Rotsry Club of Cupar 3.1 Movement in Restricted Funds Opening balance Closing balance Fund Income Expendlture Transfers Children's events 361.00 150 700 4.052 4,902 211 Care Home sessions 700 4,052 4,752 Alarm System Total 361.00 211
Fife Folk Museum Trust Scottish Charity Number: SC020920 Notes to the Financial Statements For the year ended 31 March 2025 Unrestricted Funds Restricted Funds 2025 Total 2024 Total 4. Donations General donations Membership fees The Rotary Club of Cupar The Arts Society Total 4,999 512 162 418 418 4,052 700 5,170 4.052 700 418 4.752 5,673 Unrestrlcted Funds Rastrlcted Funds 2025 Total 2024 Total 5. Grants Fife Council Tesco Community Fund Total 4,548 4,548 4,416 740 4.548 4.548 5.156 Unrestrlcted Funds Restrlcted Funds 2025 Total 2024 Total 6. Charitable Activities Maint8nance Tea room General expenses Utilities Teassess Slorage Retail Bank charges Children's events 2.612 5,211 5,400 11,637 2.640 2.841 117 4,052 6,664 5,211 5,678 12,059 2.640 2,841 117 150 6,055 5,991 7,917 10,337 2,860 3.349 278 422 150 379 Total 30,458 4,902 35,360 36,888 12