Company reglstratbn number., SC218678
arlty reuistrauon ntstnber., SC02660
SOUTHWEST ARTS AND Musrc PROJECT
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
KELVIN
PartllL?i'sIIip
CIiAttTf.MLD AccouliiANTS
The Kelvln Partnersh

Southwest Arts And Music Projèct
Contents
Page
Trustees. Report
Independent Audltorf$ Rep¢rt
5tatemenr of FlnaTrdil Acuvit￿s Ilndudlng Income and ExpendlturÈ MCCr￿ntI
Jo
eDmparallve stst￿nent vf Ananclèl Atyvltles Ilncluding Income and ExpEnditure AGtounti
li
8alaTh￿ Sheet
Statement of C65h FIvw5
13
N¢te5 to thE Statemenl of Cash Flow5
14
Notes lo thÈ Nnanc5bl StatefflEnts
15-24
The followln9 pages do Mt form part af thE Statutory accounts..
DeMiip.d Ststement of A¢tlvWes Ilncludlng Income ènd Expenditure Accounti
25-26

SoLEthwest Arts And Music Project
Company No. SC218678
Trustees, Report For The Year Ended 31 March 2026
The tnJstÈes present thelr report and the fmancial statemcnts fly the y8ar ended 31 Marth 2026.
Objectlves and Actlvllles
Alms and Oble£tlvÈ$
SWAMP exlsts to provkye 5UPPOrt to, and the create OPPDthnltles for some of the most SDclally exduded resldents wilhl
our commvnlty. Over the last year sye have SO￿9ht to athl¢ve thls by dellverfng bcUvllle5 to help tatklè food PD¥ertyi
reduce soclal lsolatlon withln our elderly resklent¥ populauon. dellver wnp1gyab111ty services and to ofler affordable medn
space for kical w9an15ations offerlng a WiEk ravJe of support a¢tlvltles.
AchlovementF ehd POrtomi¥DcA
Maln Achlgvements
The Pantry has conUDued Its role of *elplng to tackle food povErty, with Dver 3000 reglstered members. The IntrvductlDn ol
contactless payment servlces and an Investment lft Ibe physlcal appearance uf the pantry have Improved the cu5tarner
experfenty and ensure that our Pantry remalns a popular and vlbrant place to shop.
The well-e5tablished strong Ilnks with major n8tl¢nal retallers has ensured that our Pantry has attess to a substantld range
of addillonal merchandise to enhance the 5hopplng pxperlence for Duf users. Th15 hès been sUPPOrted by the direct
employrnent of additlDnal $uppDrt 5taFf to eTrsure thls flow of 8ddlllonal Items Is malntained. The nexl stage in the
dRveloprrtent Df the pantrry Is the replacement of the aging van to malntaln and maxlrn15e uplift of stotk from Ihelr retsllers.
The Income generatcd from the Pantry Fs a welcome oddltbn to the overall income of the Cent￿.
In the last ypaf¥Je have SUC￿SSfUllY dellvered three specific employability seivices tts those whu were stwggling In the
current employment markpt. our Partners at Enable IScotlDndl we proyided 6 tralnlng sesslons coverlng access to
retail and to tare and SUPPDrt In addition to a rDlllng course on accc5S to conslru¢tlon site 5ervlces. Ia addltlDD, two speui
courses were run for those interested In accÈ%slng the cre3Mve Industrle5. ThESe coutses wÈre pDpular as woll as sUCc￿5r￿1.
other stand of our employebilltv 5UPPQrt was the ono-to-ont supporl to cllents regarding cv prcparauon, sob hunbng and
coTrThdence bulPdlDg funded In partner5hlp wlth GECCO.
Earh of these projects taryeted people who other wlse would not bÈ able LO access the JDbs market.
The Dlgltal Induslon Se￿Ice, by the Vlrgln FouThdatlon, Is nDW In Its SEcond yèar and Is 9radually bUI￿l￿g It5
succe55ts by altrac￿Tr9 people who requlre baslc help a￿j ass(stance to effectively B￿sS dlglt81 servlces Frt a safe and
SUPPOrtlve way.
Tho Investment In the bulldlng was ￿mpete¢s kn Ihe prevlous nnandal year, and the facus In the past year has be￿ Dn
ensurlng the properly is rnalntained tD the pr0pErs￿ndard. A He31th and Safety Audlt aad a fvii nre safely audlt have bee
conducted and ￿pOrted ro ihe Board, and we Bre wor￿n9 through the Igsues h￿hl￿hteO. There remaln5 the need dewdvp
a full flxrure aTrd fittlngs development plan as part or the forward flnènclal plannlng proce55. The development OF the
tecotdlng studlo, dance studlo and the woodwork shDp are still Dnyoiftg and wlll feature In this yearf5 plannlng and
d￿VI￿pMent process.
Ttte vso of the buiidlny for a range of local support groups has CDntlnved wlth regular meetlngs Dr an AA, a men's
M￿*31 health group and a loc&1 bEtpè¥etnent group. These gmups are vltal for thwr u5ets and wlll always be a phme fouJs
at SWAMP.
The drlvÈ to attract new users to Ihe centre Is now Showing 519ns of wccess wlth several llEW oryanl$atlon5 seeklng afjd
rentlng space to ddfver thelr own swthces to the communlly
The to help devale soclal Isolatlon among our dderly re51dwt5 h45 gone from strength to 5trEngth with the
¢onllnua¥aTr of the ever-popUar Fun nrne events. These 5elf-funding I¢￿VE¥e3 we an Important part of the kneal
eldedy populatlDn dlary.
The board appolnted an IT support agent tQ Cn5vfE that Its IT systems were bDth modern and 5ecvre, Thts has led to
errectlve data protecbDD and c¢ntrol systems belng put In place. The development OF oursoclal media prtsence Is also
gathering patr, ?5 Is the developtRent of a Trew webslEe. Both are stlll work5 In woyress, but the tsnpact OF both has been
Fell shce the stsrt of 2026.
The BDard has begun ihe process of IoDklng at how It operties to ensure Its aperntlon Is Nl for purpose, The rnove to
impft)ve the structure of it5 govemantr arrangements hès beon gatherlng momentum wlth 5tanOard agcnda forinats,
Irnpruved record keeplng ond Improved déclsI￿l-MokI￿g wo¢ess and lrnpr9v¢d overslght ¢1 all aspects of the oryan15allon
now a cOrnmL￿ featuro of its governance agenda. A re￿nt 5kllls ènalysls bas hl9hllghted the need for the 8oard lo bo15ter
Its HR, buslnes5 plannlng. Budgetary Control and rlsk management S￿lIS. A SPE¢lfir rwultment drlve %Ylll be forthcoThinp to
Improve performaace In these vltal areas.
..CONfiNUED
Page I

Southwest Arts And Musle Project
Trustees. Report (contlnued)
For The Year Ended 31 March 2026
aln Achleveménts. contlnued
A fortnal bD8rd conllnuOUS ¢evelopmenl plan bas )een agreed and Is wrrenlly belng lrnpletneTrred
The Boara ha5 a150 Improved the overall gradlng Strvcture of the after seekln9 èdvlce from Its consultant,
ihe orgEnlsation n(w bE(ients from a professlofjal gradlng slrutiure golng forward now has access to the support It
requires to eDstsre Its own employrnent actlvltles arE fit for purpose.
One or the key tasks frons the last year wag th¢ ¢JevelopmoTrt ora furnllftg acllon Wan. Thls15 In placa and as reported
eadler the t8r9eUng of spedfic funders thvs far Is paylng dlv4dends ￿5th fundlng b8ln9 from both Glasgow Clty Cijunal
and more recently the Blg Lottrery.
ChAlr of the Board 5tatPTnent
On behalf of the SWAMP Its trustees, It glves me great pleasure to present our annual report ror the year 2025/Z6. Thks
report wlll oulllne our progre55 over the pastyéar whlch hos been a kn many respects diffitrjlt year for the whole Thtrd
sector In rR8ny rÈsperts for SWAN? Itself.
My term of office started In January 2026. lollowlng the resNJnalF)n of the foTmer chalr and I would Ilke pay trfLwte ro hlm
For hts many years as chalr and to my fellovrf Bo8rd menibers who have been a huge support during Ihese past few months.
In that tlme, I have had the pleasure of meetlng and worklng wlth thÈ Stair teèm and the 9ro¥rfln9 nurnber of vol&nteer5,
sylthout wlw)Jn we wouw Dut be able to do all that we do.
In our last report we hlghllqhted thal we declded to revlew the %Yhole operatSoA to en￿re li was stiii lit for purpose and
ready to meet the d￿llenge5 ahead. Wp brought on board additlonal management support re5ouKe5 to help Ihe
tran￿lI￿n81 processes, re¥le4Yed the Internal Starring grading Structure and tondlt5ons olservlce. Impmved our rr
Infrastwclvre, carried out modifiCatlQn5 to the pantry 6nd Introdtsced coDtacUess paymeni tystems in both Ihe Pantry and
the café. W2 Introduced a new board meet5no structure wlth Standard agenda and Improvod rocord keepino 8nd began a
governanco ￿.vIeW lo en$urE we tneet all re9ulatDry and best practlce process and that vur pollcy framework 15 UP to date.
A btyard trainln9 plan was Intrnduced. and an 4way day was held to underflne the neyé gGYernance arrangetnent& Much Is
S￿11 to be dDne, the MoMen￿M Is deady there.
We rewEwed the cperailonal structure, agreed 8 wèy aheod. subject r¢ fundln9 belng In p5ace. We hava been suttrssful In
obtalnlng (xudal fundlrtg streams from the Glas9ow City Coundl and made applicauon tts the filg Lolfery and have made
furtherèpplEcBllons to other potential funders to make the organlsatlon 5UStalnable to the years ahead. At the tlme of
draftlng thls reptsrt, It can be reported that Dur appllcation to the Blg Lottery was 5uccessfiA. Here, zgaln. mLrch ha5 bee
achleved but rnuch fftore sllll needs lo be done and again the momentum L£ wlth golng forward.
We revlewed our sodal medla framework and now have a slgnlncant presence In all major platfttms a5 well as a ne
eb5ile. We held èn engapement véllh the communlly to find out thelr vlew on SWAMP ond what they war)ted from us 9olng
fon¥ard. Thls big conYer5ation wa5 5ucce55fv1, allhouoh ttte r&sponse rate could have been better. In srarllng a conversation
which needs to be rnalntalned going forward.
On behalf of the Board, I can be confident In Sa￿09 that last yedr has been one of change, of loTrklng at how thlngs ha
been done the past, reviewing the operational and cultural aspe¢trs of organi$3Uon. and learnlng frrjm pastr mistake
Iso been about looking to the fuiutt and maklng SU￿ wr organ151tion Is truly Trt for purpose In th£ years ahead.
nallyi I wov14 Ilke to expr¢ss my SIn￿re thanks to all the staff, voluntetts and to my fellow Board rnernbers for their
support and guldance over this perfod and l 8rTr confident thal we wlll move fotward wlth a ￿TheWed confidence to F￿v￿e
the service$ our £omniunlty needs the years ahead.
Page Z

Southwost Arts And Muslc Projaet
Trustees, Report (continued)
For The Year Ended 31 March 2026
Fln•n¢l31 R*vlew
Fln)nclal Posbtlon
The Charily generated a net dEticlt of É297,930 for the year ended 31 Marth 202612025.. £28.850 surplusl. At the balance
Sheet date, totè5 fund$ stood at É1,861,3Z9 12025.. £2,159,259) wlih £l.599,93B of these funds being iestrtcted 12025..
El 1.789,9461. Of these restrtcted funds, El,599,93B relates to the renovated bulldlD9. Unrestrlcted funds at the year end
weTe £261.391 12025 £369,313).
R$$*rves
The Board has Can￿de￿d the reseryaq requlred and have considered thelr current and futuie liabllilles. The tru5tee5 alm lo
maintslfi a free reseNes In unrestrlcted funds at a levol that Equat£% to apwoxlmotely, three rnonths ofunre5tri(ted
charttable e￿endIture.
struclure, Governance and Management
Govemlny Poctsment
The ¢haHty Is cDnlrcAled by Its 9Dveffllng i*xumenL a dced of Iru* and constiwtes a Ilmsred Company. Ilmlted by
guarantee as defir￿d by the Companles Act of 2006.
Southwc5t Art$ and Nu51¢ Project 15 IncorpDrated tharity Ilffllted by guarantee ènd the pu¥poses and admlnlsirntknn
requlrernents are set out In the consl11ullon dated 041031J997.
Inductlon and Tralnlng olTrustees
New trustee wilfi relevant s￿115 and experlence are appolnted by exlsung Iru5tees of the charity-
An knducucn process ts currently belng reyléwed for new trustees,
Oryanlsatlonal Slruclure
The D￿an1￿￿on 1$ 9oveffled by a locally elected Board of trustees. They are ￿sponsible for ￿5v￿￿9 the ¢Jrganlsation Is
e￿eCtiVe in meetlng overall alms ond obje¢bve5 a3 set out the gDvernln9 document, Indydlng the development and
Implernentauon of pollcyi thancial management and setting the strateglc dar￿t￿n of the organlsation.
The day-to-day QPETaUon5 of the O￿an￿al￿D￿ are overseen by a lead Dfficer with extemal support when requlred, We
employ full Part lime and 5esslonal staff. and provlde ￿acement opportunIt￿5 for voiunt8ers. We encourage local
people to becorne members aod seek ro artively enmurage them to pa￿CIpate In the ded51on-maklng processes of ihe
orgall15atlon.
Related Partles
We are assoclated ¥thth a rnnge of partnershlps that Indutle Glasgow Empowerlng Ctynrnunltle5 CooperBUve IGECCOI. DTAS
Scotland, Glas9ow Clty ￿n[al Area Partnershlp. We are also rnembers of y(￿th Sculland, The Llvlng Wège Fovndatloo and
the Pvverty Wuance.
We work cb5el¥ v41th all I{￿al elerte¢a memb¥s.
Rlsk MonageméTht
The Board are curtenuy re￿e￿Ing It5 ?ppthte 8nd approach to dsk management.
Refomttce and Admlnlstratlv¢ DBtall¥
Truste•$
V E Sandlèn (Testgned 06/U3120261
B Gerrand
G Mltchcll
G Maoney leesl9ned 02112120251
P C Bro9an
Page 3

Southwest Arts And Music Project
Trustees, Report (continued)
For The Year Ended 31 March 2026
O Ramsay IresSgned 09103120261
J L Honan
P P M¢gDw4n Ireskjned 22112120151
D P Rhode5
R D Mcdonald (appolnted 02112120251
N W Bennctt lappDSntcd 02112120251
Charlty Numbe
5C026608
eompphy Number
SC218678
Fte9lstered Offi¢0
15-27 Brockbum Road Brockburn Road
ptsllok
Glasgo
G53 SBG
Audltors
The Kelvin Partnersttlp Lfd
The Cooper 8ulldlng
505 Great Westsrn Road
Glasgow
G12 8HW
Page 4

Southwest Arts And Music ProJect
Tru5t6es' Report (contlnued)
For The Year Ended 31 Mareh 2026
statement of Trustees, Responyibllltles
The trustee5 (who are 6150 the direttttr5 tsf SDUthwe5t Ar15 And MUSK PrDIECt for thE purw)5e5 of Company lawl are
res￿)nSIble for preparin9 the Trustees, Report ond the Trnanclal 51alemenls In accordance wlth applicable law and United
Klngdom AcrATrUnting 8tandards {United KIDgdorn Genernlly Accepted Atcountillg PrèctKel,
Cotnpan¥ law ￿qUireS the trust¥es io P￿Pare financial statements fDr each finaTrcLIl year. Under company law the tru5tEe5
must not appruve the flnandal statement unle5$ lfvey are 5atLsfied that they givc I true Jnd fair vlew of the state of affaSrs of
the <haritoble cytnpan¥ ar￿ of thÈ Incornln9 resou￿$ and applicatlon of resourc￿, Includlng the Income End Expendlturt, or
the charftable company for that pertod. In preparing ihe financlal staterneats the trnstees are reoulred to..
select sultable accountlng ptsllcles and then appty them conastenuy,.
observe the methods and prlnclples In the Chartty SORP.,
make ludgmenrs and accountlng esiim8tes that a￿ reas¢nable and pwdent,.
state whether appllcable 3ccounlln9 siandards have been follosyed,. subject to any deparbjres d15cbsed and explolned
In the fin6nclal statements,. and
prepare the Iinancla5 stalements on the goln9 concem bas15 unless It Is Inupwopriate to presume that the company
wlll conuthue i* busine55.
The irusteÈs are responslble for keeplrF adequate accountlng records whlch dlsclose Wilh reasonable accuraiy at aoytiffle the
fiThanc+al posltlon of the Iharftable coinp6ny and 10 eD4ble thetn to en5ufE that the ac¢¢unrs ¢ornply %vltli the Charlbes and
Trustees InvE31riiEnt 15cvtliindl Atr 2005, the Charitlts Accounts Iscallandl Regu￿110n$ 2006 ond the Companie5 Act 2006.
They are also ro5wJnslble for safeguarding the os5ets of the company èfid hence fvr taklng reasonable steps for the
prcventlon and detecllon of fraud and other Irregularit￿5.
The ¢rustses are respDnslble for tho malntEnance and Integrity of the c4yorBie and finanaal infvrtnation Included on the
charitsble companys w¥)site. Le91$b￿￿3 Ir the Unlted Kln9dDm oovernln9 the preparatlon and dlssemlnatk)n of finandal
staternents may differ frrjrn legIS￿￿on In other jurfsd1ttlo￿5.
ststement of Dlsclo¥vre of ltyfotlll8tlon tTr Audltor$
Each orthe persons who are trustees at the tlme when thls trustees, report Is approved h&5 tonfi¥rnEII ihEt'.
so far as the trustee Is aware, there Is no relevant audit InforTrbitlom of wblch the thorltjble mmpany's Judltors are
awère,. and
they ha￿ taken all the steps Ihal they ought to h4ve taken 0$ trustee5 In Drder to make themselves aware of any
relevant audlt infom)allttn ènd lo esthblish that the charita￿e cornpany's auditors are aware of that thf¢rmatbn.
The trustees, report was awroved by the board of trustee5 and 51glled on Its behalf by=
B Getrand
Trustee
2110712026
Page 5

Xndependent Auditor's Report
to the Members of
Southwest Arts Attd Muslc ProJert
Oplnlon
We have atsdiied the flnanclal siatement5 01 Sryjthwest Art5 And Music Project Ithe'charity'l for thÈ year ￿ded 31 March
2026 whlch comprL5e the Statement of Fln4Troal Acuvllles Ilncludlng Incomo and Expenditu¢ Account), Balance Sheet, Cèsh
Flow Stalemont thÈ related notes, Sncludlng a sufflffiary of 51gnifi¢ant a¢¢ounYng pollcles. The flnanoal reporting
framework that has been applied In Ihelr ptsparatK)n Is appll¢ablB law and United KlngdDm Accovntlng Stan(lard5 lU￿lte
Kln9doffl Genorally Acttpted Accovntlng PracNcel, Including FRS 102'Th¢ nnandal Reportlng Stondatd appllcable in thE UK
end Republlc of Ireland
In our oplnlon the fin&ndal statements:
Ive o Irue and falr the state of the charttable comp&w¥ affalrs a5 at 31 March 2026 and of Its Incomlry
resource5 and appllcèknon Df reSDUJtes, for the year then endod,.
have been properly prepared In accordance wllh Unlted Kingdom Generally ￿￿pted AccDunbng Pradlce,. and
have tyeen prepared In accordance wlth the requ1￿ments o., the CompanlB5 A¢t 2006 the Charllle5 and Trustees
Investment Iscotlaftdl Act 2005 and regulatlon 8 of the Ch¥lbes Accounts IScotland5 RegulaU￿$ 200&
lor OplnSoM
We ctsnductéd our audlt In accordance with Inter￿l￿onal Standar¢s on Audibng IUKI IISAS {UKII and appllcalle law. Our
re5ponslbllltles undEr thD5P Standards are lurther deSCr￿ed In the Auditor's reSPDnslbl1l￿es fvr the audlt of the finbndal
statements secbon of our repDrl. WE are IndependpJt Dff the charttsble company In accordance v41th the ethlcal requlremen
that are relevant our audlt of the finandal statefflEnb In the UK, Intludliiy Ihe FRC's Elhlcal Standard, and we have fulftlled
our other ethlcal re5pons1bil1￿És In a¢cord£nce wlth these requlrements. We bdieve that the audlt eVIden￿ we have 4bialned
Is sufnclent and oppropriate to prwlde a basls For our oplnfon.
ConcluslonLr Rfjlgtlng to Golng Conurn
In audltln9 the Nnancial statements, we have concluded that the trustees. use or the 9olng concern ba515 of a¢wuntlng In the
preparation Df ihe financlal 5tatement5 Is approprtaie.
Based on the work we havc pcrformed, we have nol klentlfied 4ny Mate￿al un¢ert3lolles rdatlng to ever)1$ Qr c¢fidltlons that,
Indlwdualty or colkcllvely. may cz5t 51gnlficant ooubt on the charttable company's abllKy to ¢ontlnue as a golng corKem fw a
perfod ¢lat least 12 Months from when the fInanc￿l stai&ThnL5 are authorlsed for Issue.
Our respon51bllltlcs ènd the re5ponslbllltles of the bustees wlth ￿sPect to golng con￿￿ are descrfbett In the relevant
secllons Df thls report.
othwr Intoymatlon
The other inforniallith conwrlse5 the Informauon Included In the annual reporL Other than the flnanclal rtatemeFtts and tyjr
auditor's ￿pOrt thereon. The trvsrees are responslble for the other Inf¢M￿lI0n contalned wlthin the report. Our
opITr￿n on the financial statementrs does not cover the other Informatlon and. except to the extent ottrEer¥Yise ex$41cllly sta
In our repor< we do nut express any form of assurance co.Idu51on th8reon. In connectlon wlth uvr audll gfihe finandal
statement5, Dur responslbllltyls to read the other Informatlon and, In dolng so. ionslder wliether the other Informauon is
maiedally Incw51stent wllh the financlal statements or our knowledge obtèlned In the audlt or otherwl$e Jppears to be
aledally mlsstaled. If %Ye Idenllfy Such mat¥rial IDcDnslslencle5 or apparent materlal mlsstaternent3. we are requlred to
determlne whether th15 glves rlse to a n￿ater￿] rnISstalen￿t in the financial #atem¢nts them5elve$. Ir, based on the work
we have perfomied, we conclude that thetE 15 8 mOt?rfJl ￿5Statement of this other InfomptSon. we aro rcqulr¢d to report
that fact.
We ha¥e nolhlny tD rewt lji thls regard.
Oplnlons on Oth*r Matters PreLEGrlbed bytha companles Act 1006
In ouroplDlon, based Dn the work undertaken ITr the course of Ihe audlt..
the infrJrfflatlDn glven In the Trustees, Re
whlth In¢lude$ the Directort5 Ileport prepared lor the purp05e5 of
cNnp3ny law, for th¢ nnandèl year for w
Ich the nnanclal statements are prepared Is con51Stenl wlth the Nnanclal
statemont$', and
the Directa￿S Report hrjuded wlthln the Trustees, Report have be￿ prepared In ac£ordancE with appllcable legal
requlremenb.
Page 6

Independent Audrtor's Report (continued)
to the Members of
Southwest Arts And Music Project
Mattèrs tsn Whl¢h W4 Are Requlred to R*poit by Exceptlon
ITh tho Ilght OF kno¥Aedge and undet5t6ndlng of the charltable [D[￿pa￿Y and It5 envlmnment obtalned In the ￿Urse of Ihe
audlt, we hève not Idenuned moterlèl mls$taiement5 In the Dlrectorfs Report Included theTru5tetS' RePIrt.
We have nDthlng tD report respect of the followlng tnatters In relatlon to whlch the Companles Act 2006 and the ChartUe5
Accvunt5 IScoUandl Regulètl)ns 2006 requlre us to report to you If, In our ¢plnlon-
• adequate accountlng records have not been kept or retums adequatE For our audlt have not been ￿c￿ved from
branches not v￿ted by us.. or
the flnarKlal statements are not In ègreernent wlth the accounllJ)g records or retum5,' or
certaln dlsdosures of ITUStee5' rernuneratlon spedfied by 16w are not made,. Dr
• WE have not receS¥ed all the InFormatlon 3nd explanallons we requlre for Our audl¢.
Rpsponslblllt5ps of Trustpe5
As explalned more fvlly In the Trustees, Responslbllltles StaremenÈ SQt Out on page 1-5. the trvsiees (who are also dlrettors
Df tho £h4rfiable CDmpany for the purpo$es of company lavé) are respDnslble for the prepar&llon of the Iinanckil statements
and for belng Sa￿sf￿d thai they glve è truq and falrvlew, and for such Internal corilrol as the tnjstees determlnels necessary
to enable thp preparauon of flnanclal $tfitement5 that are free from materlal mlsstatement, whether due to fraud or error.
In preparlng thé financial staternents, the trustees a￿ respofislble for asse551ng the tharltable company's abillty to continue
as a galng concern, dlscloslng. as tsppllcable, rn?ttrers ￿lated to goIMg ¢one¢tn and using the going con￿r￿ basls of
a¢¢ounllng ￿￿e$S the trustees elther Iniend tD Ilquldats the chahty Dr to ￿ase operatlon$, or have no ￿alIstIC altemattve but
do so.
Audltor'5 Respottslbllltle5 forthe Audlt of tho Flnanclal Statemet
WÈ have be*n app)inted as audltor under section 44llllcl of the Charttie5 and Trustees In￿stment Iscotlandl Art 2005 and
under the Cornpanles Act 2006 and repcrt In 6crordance wlth th2 Acts and relevant re9ulaty¢ns mède or having effect
thertunder.
Our oblectlves are to obtaln r￿Sonable assuranco about whether the flnandal statements as a whole atc froe frorn matthat
mlsstaremeni, whether due to fraud or error, and io Issue an aud1tor's Teport that Indudes our iplnitsn. Reasonable assurance
Is a hl9h lerfel of a55urance, b￿1 is not a yuarantee that an audlt Cond￿cted in accordance Wlih fsA¥ IUKI wlll al¥vay5 detect a
rnateriol misstalement when it ex15ts. Mi55tatements can aiise from fraud or effor and are con51dered rnaterlal 11. indlvldually
or in the Dgoregate. they could reasonably be e%pe(tEd to Influence the ecDnomlc declslons OP u%ers takÈn On the ba%ls of
these rtnandal statements.
The extent to whlch our r￿c￿l￿re$ ao iapable of detectlng Irre9ularftles, Indudlng freud Is deiaikd below..
IrrEgularities, induding frauij, are Instances OF non-compliance wlth law5 and regulauons. We deslgn Pre￿ureS In 15ne wlth
our respons1￿11t1es, outline above. to delect rnalerfal ml$statemeTrt5 In respe¢l of IreguladUe5, IncludlThg fraud. The extent
whith these can det*ct Irregular4tles, Includlng fraud Is detailEd below.
To ass¢5s Ihe sUs￿5￿￿11fy of Ihe company's nnallclal statements to materlal mSsslatwnent, Indudlng how frau¢J may QLUT.
We enquircd of the trustee5 of the chariLy's pdicies and procedure5 tD delert fraud as well a5 whether
they have knowledge of any actual, 5u$pected or alleged frnud
R¢Jding Boèrd minutes
Uslng analyural procedures to Identlfy any unusual or unexperted trdnsactlons
We communicated Identlfleé fraud rlsk$ throuyhtyjt IhE audit team and remained alert lo IndIca￿on$ of ft7ud wihln the
charity.
As requlred by audI￿r￿) standards we perform procedure5 to address the YI5k oFmanagement yverride of controls and
partlcular that the charliy's tnanagernent May be In a pTrsltM)n tv make Inappropriatre accountlng enlrtes and the Ask of blas In
accountlng estimates anil Judgenients such as prepayrnen15, accrua15, depreciation and allocariDn of Income ofid expense5 of
funits. Ots thls audlt we do Tr4t bdleve there Is a fraud risk related to revenue r¢wnltioll because the reventsE Is all 9r4nt
Incorne of higf, value affloullls ffrom taslly Idonvfla￿£ funders, and doe5 rTrot contaln estlmdllon un¢ertalnry.
We dld not ￿￿tIfy any addldonèl fraud rf5ks.
In determlnlng the 8udlt procedures we took Into account the resvlts of wrevaluatlon ond testing OF the
operaung effect5veftess of the companWs rtavd risk fflanagernent contrDIs.
we also perfomied proceduros Indudlng..
rdenbfying loumal erTrlrfe$ to test for all full scope components based on rsk crfterfa compar5ng the Ideniified entrfe5 10
supporting docvmentaiion. These Included. a$ ￿levant, those pDsted to UN5ual aceounts
.CONTINUED
Pag8 7

IndÈpendent Auditor's Report (eontlnued)
to the Members of
Southwest Arts And Muslc Project
Audltor's Responslbllltles for the Audlt of the Flnotsclal Statements- contlnued
é Asses51Trg slgnlfKant ¥counllng Éstimates for tAa5
• Revi¢wltt9 large and unusual transactlons outslde the orthnary courle of IhE charfly'5 bu51nesS.
Idenufylng undisdg5ed reknted partles
We dlStus$8d wlth rnan3gempnr matkers related to aciual or suspected fraud and consldered Impliiatlons ftyr our audl.
We ¢n$u￿d thal the audit team colleC￿Ve#Y had the ne￿$sary cornpeten￿ and 5kllls to t¢CO9nlse thon.corrp11an￿ wlth laws
nd regulatlon5.
We IdEntifled areas of laws and ￿9U[￿tIOnS thal could reasonably be expected to have a rnatertal effert on the financlal
staternents and through dtscu551on with the tru5tee5 las requlred by audlung st4ndardsl.
As the charfty Is weoulated our ossessment of rlsks Inwolved galning an tsnderstandln9 orthe contr& en¥lronment Indudlng the
chartty's procedvres for cornplylng wllh regulatory requlrements.
We ￿MmunIco1ed Idontiflod law5 und regulatiDll5 throuphout oor team and remalned alert to any IndlcatloD5 of non-
cornpllance thmughout the audlt.
The potEntlal effect these law5 and regulation5 On the financial statement varies eon5iderobly.
Flystw, the en￿llY Is subject to very strict law5 and regUla￿D￿5 that dirtlly affect the financlal statements Including finanaal
IQPDrtlng legislbtlon, Incl￿dIng the Companles Act 2006., the Charltles Trustcc InYe5tment Isiotlandl Act 2005, the
Charille5 Account51Scotlandl Reguloknons 2006las amended) and AccoUn￿ng and Repor￿n9 by Chantle5.' Statement of
RecornTDended Pra¢ll¢e appllcablÈ lo charlties. FRS102. the UK Co￿Or￿le tax law5 and UK VAT laws. We o55essed the extent
of the compllance wlth these laws and regulatbns by ¢arrylng oul a revlew Drthe flnandal statement dlsdosure5 and a revlew
of ¢orrE$pondence wlth the lax authorfttes.
Secondly, the entlly15 subject lo many other laws a￿11 reyulallohs IDdudlw thÈ ANL regulatlons, GDPR, health and 5afEty ond
the Sc¢ttl$h Chartty Code of Govemance, Whe￿ the corwuences o.'non cornpllance C(￿Id hove a materlal effect on amounls
or dlsclosures In the nnancial slateTnent5.
A￿ltIng startd3ras Ilmlt rhe wuired I￿ll Pro￿dureS tu Identrlfy n0n-compl1an￿ these I&¥Y5 and ￿gUla￿all5 to en9uIry
of the rrustee5 Tnana9emEllt and Inswtlon of regitlawry atxl legal Correspond￿￿, If any.
Therefore Ir a breac* of optrauonal regulatloos Is nol dlsclosed to V5 or evldent IroFn the r&.avant cLirreSpDnd￿￿, an aLdlt
Wlll Njt detect that breach.
Context of the ablllty uf the ¥tsdlt to dete¢t fraud ur br¢aches of laws aThd Tegulatlorv6
OwlDg io Ihe Inherent Ilmllations of an avdlt. there Is an unavoldable r15k that we may not have detected Some natedal
ffl15StatemEnt In the flnancFal statements, even though we had properly planned and performed vur au#lt In accordance wlth
atcountlng standards. For example the further removed npn-cownpllance wlh laws and regulatlons from the evonts and
transactlons reflected In the Inondal staiemeDts, the less Ilkely the InherEnUy Ilmlted protedures repulred by audltlng
Stonddrd would idenufy It.
Tn a￿dI￿On. with any 4udlt, there reTnalned 4 hl9her ￿sk of non-delethon of fvaud. as Ihese may inwJlve cdlu$on, forgeryi
Intentlonèl omissions. nik4represeniatlons, or the overrKlc of intewnal conitv15. Our audit procedures are desl9ned to detert
material misstatemer.t.Wc ar¢ not responslNe tr lor preventlng non-com￿lance OF fraud and cannot ￿ expecied to de
non-compllance wlth ?11 labys and regulatlDns.
A ftjrther descriptlon Df our respDnslbilitie5 for the audlt of the financlal staternonts Is located on the Flnanclal Reportyng
Coundl's web511e www.frc.¢ry.uWaudltor5respon51billtle5. Th15 (Soscrfputsn forms par¢ of our Hudltoff5 report.
Use Of Our Report
Thls report Is rnade solely to the charltable company's members, as a body. In xcordarKe wlth ChaptEr 3 of Part 16 of ihe
Cumpanies Aci 2006. aThA to the charllatAe company's trustees. a5 a bDdyi In èttordance svlth Rogulatlon io ol the
Accounts Iscouandl Reg'Jlations 2006. Ouraudlt work has been undertaken $0 that we mlght State to the charftable
cornpany'5 tnembers and trusiees those matters that ¥Ye are requlred to state ro them lrt an audito¢s report and for no other
purpose. To the fullest extentr permltted by law, we do notr accept or assumo ro5p¢nsiblllty to anyone other than the thartt3￿e
company¢ the chadtable company's members as a body the charltable company's trust￿ as a body. for our 6udlt work,
for thls report, or ftst the oplnlons we have fomied.
Page 8

Independent Auditor's Report (continued)
to the Members of
Southwest Arts And Muslc PFoJ8ct
Rayfflond HeNy B5c fcA (Senlor Staiui¢ry Audllorl
for and on behalf of rhe Kelvln Partnershlp Ltd, siaLulDry AudSior
2V0712026
The Kehfh Partner5hlp Ltd
fie Cooper euildirg
505 Great WestEm Rgad
Glasgow
G12 8HN
Page 9

Southwest Arts And Musle Project
Statement of Financial Activities (includlng Xncome and Expenditure Account)
For The Year Ended 31 March 2026
2026
2025
UhrestrTcted Restrlctod
tvnds
funds
Total
fund5
Total
fund5
Notes
INCOME ANO ENDOWMENTS FROM:
Oonatlon$ and legaclcs
ChOrfta￿e a¢tlvltles'.
5,266
5,Z66
IB.756
Chadtable a¢￿VI￿e5
Othertr6d¢ng acuvlues
43,745
120,399
295,511
339,256
120,399
525,B95
100,428
169.4JO
295,511
464,921
645,079
EXPENDITURE ON..
Charftable 3c¥vitles'.
Chariiable adlvltles
GDveman¢e costs
1269.B931 {485.51fi1 1755,4111 {609.0291
17,4401
17.4401
17,2091
{277,33ZI 1485,5L91 1762,8511 1616,2291
NET IEXPÈNDITLIREIIINCOME
1107,9221 IL90,0081 1297,9301
28,850
IIET MQVEMENT IN FUPIOS
R£fONCXLIATIQN OF FUNDS.,
Total funds bmught rorwartt
1107,9221 1190,0081 1297,9301
28.850
369,313 1,789,946 1,IS9,259 2.130,409
TOTAL FUNDS CARRIED FORWARD
17
261,391 1.599,938 1,861,329 2,159,259
The notes paoes 14 to 24 forin part of thE5e ftnancial star￿entS.
Page 10

Southwest Arts And Muslc Project
Comparative Statement of Finènclal Actlvltles (including Income and Expenditure
Account)
ForThe Year Ended 31 Marth 2026
2025
Uhrestrlcted Re$trf¢ted
funds
funds
Yotal
Notes
XIICOP4E AND ENDOWMENTS FROM:
Don8tlDns and legacles
Charltabte a￿￿tIeS.,
Charttable acElvltks
Other Iradlng aCtlvifi&s
18,756
18.756
140,355
100,428
385.540
52S,695
100,4Z8
259,539
385.$40
645,079
EXPENDITURE ON:
Charftable actfvllles..
Charttrable aCtI￿lIeS
GDvernance costs
{IBL,8IDI 1427,219) 1609.0291
17,100)
17.2001
1199,0101 {427,2191 1616,2291
XN¢OME
70,529
111.6791
28,850
NET MOVEMENT IP4 FUNDS
AECONCILIATION OF FVNPS:
Total thnds brought forward
70,529
141,6791
28,850
298,784 1,831.625 2,130.4Q9
YOTAL FUt4DS CARRIED FORWARD
iy
369,313 1,789.g46 2,159,259
The notes on pa9e$ 14 to 2¢ forni part of these finandal Statements.
Poge 11

Southwest Arts And Music Project
Balance Sheet
As At 31 March 2026
2026
2025
Vnrestrtcled Ro5trlcted
funds
Total
funds
Totsl
fund$
Notes
FIXED ASSETS
Tangible Assets
12
43,397 1,599.938 1,643.135 1.78S,923
43.397 1.599,938 1.643,335 1.786,923
CURRENT ASSETS
Debtors
Cash at bank and In hand
13
39,876
196.499
39,876
196,499
70.066
320,248
236,375
236.375
J90,314
Cr¢dltor$.' Amuunls FJJlllno Due Wlthltt One Year
14
118,3611
118,3eii {17,9781
NET CURREIIT ASSETS ILIABILITIFS)
217,994
217.994
372.336
TOYAL AS5Yfs LESS CURREt4T LZABJLITIES
261,391 1,599,938 1,861,329 2,159,Z59
NET AssErs
261,391 1,599,938 1,961,329 2,159.259
FUNDS OF THE CHAR7TY
Reslrttted Fund5
1,599,938 1,769,946
261,391
369,313
Unrestrfcted Funds
TOTAL FUNPS
17
1,861,329 2,159,￿9
On behaV Df the board
ts Gerrand
Ilustee
2110712026
The notes on pa9es 14 to 24 form part trf these ftnandal 5taternents.
Page 12

Southwest Arts And Musle Project
Statement of Cash Flows
For The Year Ended 31 March 2026
2026
2025
Nutsry
Cash tlows Irom operatlng èCtlvStles
Net cash lused llll/generaled Irom ¢pet4tSvns
IIL9.5431
113,2J3
Net cash lused Inllgenerated frorn operdtlng br￿￿￿e5
1119.5431
IlJ,233
cash flows fvom lllvegtlng actlvltles
rchase of ta￿ltsIe assets
14,2061
189.3711
IDerTraselfincrease In c?5h and cèsh equlvolents
Cèsh ¢￿h eq￿ValentS at beglnnln9 of year
1123,7491
320.Z48
23,862
296,386
Cash and cash equlvalents at end of yeor
196,499
320,248
page 13

Southwest Arts And f4uslc Project
Not¢s to the Statement of Cash Flows
For The Year Ended 31 March 2026
Reconclllatlon of lexpendlture)/lncom• to cash lus*d Inllgohernted from operatloths
2026
Z015
tlet {expendltureyin¢sma
ljustfflents far..
Depreclatlon of tan9lble asseis
Movements in worklng capltal..
Decreaselllncreasel In trade and otherdebtors
Increaselldecreasel In tr•de and olh2r credltors
1297,9301
28,850
147,794
151,213
30,190
403
151,8731
114,957)
et cash Iu5ed InygenErated from operatlons
1119,5431
113,233
2. Cash cash 04ulvalents
Cash and cash equlval2nt5. a5 5tated In the Staternent OF Cash Flows, relates to tho folkiwlng Items In the Balantr Sheet:
2026
202S
C4sh at bafik and In hand
196.499
320,248
3. Analys15 01 ¢hangES In n4t funds
As at l Aprll Cash Elows
2025
Asat31
Ma￿h 2026
Cash at bank ond In hand
320.248
1123.749)
196,499
Paye 14

Southwest Arts And Music Projeet
Notes to the Flnancial Statements
For Thg Year Ended 31 March 2026
1. G8#•ral Inhrrnatlon
Southvéest Arts Ahd Muslc Project 15 o company Ilmited by gu8rantee InCOrp￿rated In ScDtland. reglsterEd number SC218678
and tP9l$tered charlly number SC026608. The reg15tered offlce Ls ￿-27 Brockburn Road Brockbum Road, PollDk, Glasgivi.
G53 58G.
2. Accountlng Polldes
2.1. Basls of Preparhtloth ol Flnanclal Statem¢Th*s
The flnaJcial stBlemcnts have been preparEd In accordan￿ vlth the Charitle5 SORP fFRS 1021 'Accounllw 4nd
Roportlng by charl￿¢$.. Statement of Recommended PTactlce applicable lo charitles wepailng thelr aeiDvnts In
aeCorda￿ Yélth the Financlal Reporlifi9 Standard applicable in the VK and Rewblic of Ireland IFRS 1021 leffectlve I
lanuary 20191" Flnaneial Reporung Standard 102 'The Flnandal RopDrUng Standard appilcable ith the UK and Repvbllc
of Jreland" and the CoTnpanles Act 200$.
Tre charftable ¢Dtnpany Is a Public Benef* Entlty a5 delined by FRS 102.
The accounts are prepared tn sterting. whlch Is the funtth)nal cur¥ency of Ihe charlly. Nonetary amounts In thase
fln8rKl81 statemefits are roun(fod lo the ne6re5t pound.
The accounts have been prepared ￿nder the hlstorlc Cost ¢onvenUon. The prtndpal accountsTrJ p￿l￿e5 are set out
below. Th&e have been wn4stently applled lo pth(yls presented.
2.2. Golng Cuftcern Di5closuYe
The trustrees are obllged to C0Tr51der the appropAateness of the golng con￿rn 4ssvmpUon when prepa￿ng the fillanual
statements, Gven the dedlTh5n9 ECDniimlc outlook Increasing Inflatlonary pre$5tsres ha5 created a degree or
vncertèlnly wlth pgtefibal svbsequenl lrnpact on fundingi the ItU5tees have assessed it's potenual impact OTr ihe
flnances amd future OF the charliy. Furtherd1511¢surE regarding Ihe trustees. ￿SumPtIonS and dec15ions taken thus far
tD mltlgate It'5 Impact a￿ detailed the Report ar the Trustoes. Consequentlyi the trustees belleve that there a￿
materlal uncerialntles affectlng the charfly's ab+llty to CL)nllnue as a goln9 concern ond. accordinglyi the financlal
ststements are prepared on a golng ¢oncErn b&sls.
2.3, Slgnlncant Judgernents and estlm)tlons
In the appllcation Dr chanty's accaunlSllg polides, the trustee5 are requlred to make ludgernents, ¥tImat￿ an¢J
aSSutnp￿O￿S about the carrylng amount ofassets Iiabilitles that are not re*ily opparent from other source5. The
estitnates alld aSS￿at￿o assumption5 are based OTr the hLptorlc experfence ènd pthpr factors Ihot are cofisideraj to be
relevant. ktual results may dirrer Iram th￿* Wlm3ies.
The esumates and underfying a55vmptyons are rewewed on an on¥olng ba51s, Revislons to accounting ￿lI[￿ateS are
reco9nlsed the perlDd In %thlch the eS￿M￿te Is revlsed where the revlsh)n affetts only that per4vd, or In the perlod of
the revlslon ènd future perlods where the revlslon arrects boui Iht cvrrent and future pertods.
In prwadng these flnan¢ial Statements, the trustee5 have made the lollowlng judgernorits:
Tangible flxed assels deprerlated over a perfod to re1￿ct IheF estlmaied useful IIvE5. The appllcablllty ol
thE ty55umEd lives 15 re￿eWed onnuallyi toklng Into a¢cDunt fact<M5 such as physlcal cond￿an, malntÈnance and
ob501e5cence.
7.4. A￿V￿￿tIng
UnreslrktEd funds can be used In acc￿￿an￿ wlth the ¢haritable objeLtlve5 at the dlSCretlon or the trustees.
Deslgnated funds wmprlse unrestrfcted funds that have been ser aslde by the tru5tee5 for a spedFk purpose.
Restricted fijnds Jre to be used for 5pechSc purposes as laH down by the donor.
Further explanatlDn of the nature and purpase rfèath fund Is IndudEd the notes to the ￿nandal statements.
Pè9e 15

Southwest Arts And Musi¢ Project
Notes to the Financial Statement5 (contlnued)
For The Year Ended 31 March 2026
2,5. Irb￿rnIng Resources
All income Is recognlsed In the statement of Flnènclal Act￿ltIeS once the charfty ha$ entibtmert tv the fund5, It k%
probable that the Income wlll be recelved and the amourt can be measwed rellably.
DonatluTrs
Donations are reo)gDl$ed when thE charfty ha5 boen ngtlfied In wrfllng of borh the amouni and settlement date. In the
event a donatlon Is subject to the condlilons that ￿qUIre a levd of PErfvman¢e before Ihe chartty Is entitled iu
the funds. the Income15 deferred and not recognlsed untll elther those condll1ons 3re ￿llY mel of the fulfl1Sm￿t of
thosE CDDdlllolls 15 wholly the Control of ihe charfry and It Is prDbable that those condlllons wl11 bp fulfllled In the
repDrUno perlod.
other tradlng aetlvltles
Incame from the supply of Serv[c￿ are recognlsed In Ilne Ylth the d￿fvery of the tontracted servlce.
Grarbts
IncoFf4e frorn government Bnd Dther grants, whether'capital, or'revenue. are recognl$ed when the chartty has
unconditional enutlemenl to the funds, It Is probable that the Incume wlll be recelved ar.d the amount can be
measurod rellabw. Unconditional enlluement has been achleved once any rondiion altathed to the have been
met, or fvlflllment of thes¢ condiknOTrS Is wholly withln the control of the charlty.
Incorm ¥ecelved In advance of the provislon of ? spetified Servlce ￿ deferred until the crfteria for Incoffle recogllluon
are met.
2.6. Resources Expehdert
Llabllities are recogn15ed as experKliture as saon as there 15 H legal orconstrpJct1ve obligatlvn commlttlng thÈ tharfty to
that exwdlture, It Is pmbable that a tranS￿r vf economlc benenls wlll be requlred In settlement and the amountof
the obllgallon can bo rneasured rellably.
Expendlture Is ￿￿O￿nte¢j for an aicrual b*15 has been dassified under headlngs that aggregate 411 cost rekied
to the category. WhcrÉ costs cannot be dtrecdy attrftsUt￿ to Patticular headln9s they have been allocated tu acti￿tIES
on a b35is Con￿$tent w￿h iae use of resources.
Charltiblo Oetlvltles
Expendltu¢ on thadtable activltles intluile c05b incurred for *he delivery of ihe charlly's objedvies and actlvltles.
Charftable aclivlly expendllure Is tEcogTri5ed In the StatEFnent of Mnanclal Activltle5 on an acrrual ba5k5 and the
amwnt Can be measureo reli4bly.
The charfly has elected t¢ apply thE provlskns of Sectlon 11 'Baslc Fhandal In5tNme￿￿s. and SECllon 11 'Other
Financlal lll5trument Issues. of FRS 102 to all It5 nnancl31 Instruments.
nanclal Instruments are recogThlsed In the chartty'5 flnanclal 5taternent5 when the charlty becomes party to the
contrariuTal provl&ons of the Instrument,
roncial assets and liabllliles are only oftset, wlth the net afflount5 presented In Ihe flnanclal statwnents. when there
Is a legally inForceable rfght io sel the recognlsed amount ahd the￿ 1$ èn InteTrUDn tv xttle on a net basis or io
reallse the asset and Sett￿ th¢ Ikblllty sirnultaneously.
Cost5 OF Charl1ab￿ activlties are lTr¢urrEd or. the chadty's operatsons, Includlng 5UPPOrt Costs and costs related to the
uovemance of the Charity apportlDned lo charitable actfvltries.
Govorn3ncè costs
Governan￿ costs conslst ofexpense5 O5soclatd wlth the governance of the charlly and relaie to the g8Treral runnl
costs of the charlty. as opptssed to actlvitie5 undert6ken to furthEI charitable obSective5.
Governallce <ost5 are reCOgnL￿ In the Ststement of Flnanclal ArtSYltles In the perbd In wNch they are Incurred an
accwal bass.
Goverllance cosis, whl£h are Induded as a component of svpport Costs (ln accordance wlth the SORP} CDmpr15e all
iosts Invvlving tfve public ai¢ountablllly of the charlty and Its cornpllanr2 vlltli regulatlon and good practlce. These
costs Include those rplatd to consuturbnal and statutory requlrements and extremal suutlny.
Poge 16

Southwest Arts And Muslc Project
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
2.7. Tanglble Flxed Assets arbd Depreclatlon
Tangible flxEd assets, und¢r the cost model, ère stated at historical cast less accumulated depreckilDn and any
accurnuL3ted Impalrment10sses. Hi5torlc cast Include5 expendllure that Is difEclly attrlbulable to brtn9lnp the asset to
the location and ¢Dndltkon necessary for It tD be capabk of operating In manner Intsnded by wnagement.
charity adds to the carrylng amount of ffxed assets cost oF¥elaclng part of such an Item when that COSt15
Incurred, If the replacefflent t5 EXPECtEd to provlde IncrÈrnental future bÉnéflts to thé eharlty. The catryl•g amotsnt or
the replaced part Is derecognised. Repalrs and malntenance a￿ tharg&Y to the sraternent of FIDandal Actyvllte5 and
talned èarnlng5 durfng ￿e perlod In véhlth they are Incurrod.
Depr¢£lallon Is charged so to allocate tbe costs of assets Itss thelr resldual valuc over the estlmared useful Ilves, uslng
the foll¢wlng melhod$-.
ImproveTrients to Property
FLYture5 & Nttlng5
Comptster Equlpment
over the term of the lease
25% on reduclng balance
25% reduelng balance
The assets Tesldual value. u5eful1SVe5 and depreclauori methoos are revlewed, and adjusted prD5PEcUvely 5r
appropriate, or If the¢ Is an IrKll¢atloi ola 519nlflrant Change sln¢e the Idst reporting date.
Galns Bnd d15posals are delermlnlTr9 by cornparlng the proceeds wlth the carryln9 arriount and are recopn15ed In Ihe
5tatÈmÉni of Flnènclal Attlthlk5 and retaltsed eornings.
OperatlTh9 leases
Aentals pald under operatlllg leases are Charged tis the Statement of Fknan¢lal A¢￿￿tIeS as they are Incufred.
2.B. Cash and Cash E4ulvalents
Cash and cash equivalents are ba51c ftnandal assets and Include cash In hond and doposits held at call wlth banks.
other 5hort-ierm hlghly Ilquld Investments that rnaiure In no more than three months from the date oFacqutslUon Bnd
are ieadlly convertl￿e io a known dtnouni ofcash wlih I￿s19n111¢a￿t rlsk of Chanw In value, arKI bènk overdrafts,
The chartty has derted to apply the provlslors ofsecuon 11 'Baslc Flnanclal InstrLment5' and S¢ttion L2'01her
nanclal Instrumpnt5 tssue5' of FR5 LD2 to ali Its nnandal Instruments.
nandal lostruments are recon￿Sed In the thatity's finondal statements when the tharfly becornes party to the
coTrtrattual provlslons of the Instrumenr.
Finaficlal èsset5 liJbllitle5 are only otf5et, With th¢ nEt amounts presentred In the nnandal statements. Ythejl there
15 a legally enforcEible right to Set off the recognI￿d atnovThts and there Is an Intentloft to set￿¢ on a net ba#s Dr to
reallse the asset and set￿e the liablllty slmultaneo￿ly.
Baslc Flnanclal Asset5
Bas1[ financlal assets, whkh Include debtors and cash and bank balance$, ort Iniii3lly measured at transacllon prlce
Includlng transacUDn C05t5 and ère subsequeTrtly carded at amrt15ed cost the effttdve Inte￿$t method unl￿$
the arrangement constitutes a flnan¢hg iransH¢tion15 measu￿d al the present value of the future recelpts dlscowted
t a market ratc ofknterest. Mnancl41 assets classllled as rteelvable tNithln one ¥eèr tt￿ ntrt am¢rtlsed.
¢CVS DÈbto*
The cha¥lty enga9es wlth a thlrd-party payroll prO￿der to admlnL51ir payrDN Se￿CeS vn IL'S behalf. Funds ore
transferred to the ￿yrOll provider in advon¢e to enable the provld¥ to meet payroll obllgath)ns. Amount5 pald are
141lk3lly recoqnised as a debtor until the relotod payroll costs havc been reali5ed.
At the year End, any unuh1i5ed Funds a￿ retrgnlsed as a currtot debtor In the Statement of ￿nancI& Actl¥S￿eS.
Ptep•ymoDts
Prepayrnents represent payfnent ￿ade In advano for goods and $Ervices to be ftcelved In fvture pedods.
PrEp4yment5 are Inlllally r￿o￿nISed as current assets when payment Is rnade afid are SubseqUenl￿ expensed over the
perlod to whlch the relBted goods and servlces relate,
AccrL¢ed In¢OIIIÈ
Accrued Income represents IncrAne eamed by the tharfty, but not at the report1Trg dale.
..CONTINVED
PaGe 17

Southwest Arts And Muslc Project
Notes to the Flnanclal Statements {continued)
For The Year Ended 31 March 2026
2.9. Flnanctal JnstruMÈrtts- eontl#u0d
Accrued Income is reco9nlsed where entltyement to the Income hBs been o5tablthcd, rccclpt Is probable, and the
amount can be measured rellably. AFwunts ats recognlsed In the StaremÈni Dr Flnandal ActlvltlE5 the period that
the Income relates to.
Jmpalrment of Flnanclal Assets
Fln4nclal a55els, olhEr Ihan th￿ held at ralr value Ihrough proNt 4n4 loss, ale a55e55ed for Indicators of im￿1rMen
at each repDrbrt9 date.
Depecognltion of FlnaThclal A55ets
Flaan¢lal ass8lg a￿ derecognlsed only when the contraclural rlghts to the cash flows from the assets explre or are
settte(S, or when the charlly ttansfers the financlal agset and substant1￿lY all Ihe rlsks and reward5 of ownership r
another eTrlity, or Ir some sl9nlflcaDt rlsks and rewards of ownershlp are retalned but the control of the asset ha5
transferred ta amther paity that 15 able to sell the asset in it's enllrety to an unrelated thlrd party.
Classlllcatlon of FlnJn¢lal Ll4blllUoÈ
Flnancla1 Ilablllles and equliy In5lruments are Class￿led acc￿￿1n￿ the the 5ubstante of itte conlrJctural arranoemcrts
entered Into. An equlty1Tr5tiument Is any ttsntrart that tvldence5 a re51dual intere51 the assetrs ofthe charty after
Baslc Financlal Ll3bllltles
Baslc finèneial liabilitle5, In¢l￿dIng C￿ltOrS and loans are Inltlally reCOgn￿Ed at transacuon prfce and are sut)5ewentFy
carrfed al amortised c05t. uslng the effedive Interest rate method.
Accrued Èxpenses
Attrued expenses are rcccgnisod as liBblllUes In the fvnanclal statements. Where the thadty ha5 recelyod 9oods and
Services before the year end, but has not yet been InvDIcLYJ or paid by the repor￿n9 date.
Aetruals are measured at the bLst e5Umato for the afflouni$ ￿¥?ble ODd are recoynlsed In the stateM￿t ¢fFlnanclHI
4ctwille5 in the period to whTch the related eNpen¢lbJr¢ relatos.
Hollday Pay Accyual
A Iiabllitiy rEmgnised to the extent of any unused hollday pay entltthentwh￿ Is a¢tsue4 at the 5ta¢emert or
Finandal AthviUe5 date and carrled to future perlods. Thts Is rrtasu￿d at the undlscountod salary cost of the future
holiday entitlement so accrued at the Statement OF Flnandal Actlvlty Feportltso dare,
2.10. Provlslons and Contln9enclé$
Provislons
Prov151on5 are retognisÈd whert the char(taEAe company has a presernl legal oreonstructive oknlgatlon as a resLlt or
past eYent5- It Is probatile Ihat an outftow of re50wcEs wlll b¢ requlred to settlE tre ob11g4iTQll', and the amount oFthe
obllgatron can be e5tstnated rell)bly.
Where there are a number of slmllar bbligabon5, the 51kdihood that èn outhow wlll requlrtd In seltyement Is
deterrnlned by considering the clas$ of Obfl9at￿ns as ) whole. A provi51on is recognised e¥en If the Ilkeflhood oran
outlow wlth respect to any one Item included in the same cla55 oFobllgatyop.s may be sfflall.
Provlslons are ffleasured at Ihe present valLpe fjf the expeThlilures expected to be ¥equlred to settle the ob51gaUon uslng
prE-tax rate that retlyrts current markel assessments or the tlty* valoe ot money and tho Ask5 5poclfic to the
obligatlon. The iaLTE05e In the pro￿slon dve t¢ Passage ofime ts recogtrfsed as a fln￿e cost.
3. Income from ￿94¢1*&
2026
2025
Umrestrlcted Unrestrlcted
fun¢ts
Donattons and 9lfts
orher
4,830
436
10,756
8,000
5,266
18,756
Income from CharitsE>le Activltles
Page 18

Southwest Arts And Music Project
Notes to Winancial Statements {contlnued)
For The Year Ended 31 March 2026
2026
ilt)¥estrlcted Re5trlcted
runds
runds
Total
Charltable ac￿￿￿eS
43,745
29S,511
339,25S
2025
Utyrastrlcted RestYtct4d
itsnd5
funds
Total
funds
Charttable acuvltles
140,355
38S,540
525,895
Grants, indud£d above. are a5 foSbws-
2026
2025
DTAS
Enable Scotland
40,000
110,523
B,375
39.816
40,300
119,961
10,723
35.000
11,585
GCV5 Wages
GEeco
GECCO- Wwjes
Glasgow Clty Councll - Area Partnershlp Fund
Glas9ow CILY Councll Hollday Summer Pro9ramme
a5gow Clty Councll Hollday October Programme
Glasgow Clty Councll Hollday Easter Pro9ramrne
Glas9ow Clty Councll- salary
Gla5gaw ComFnunlty Fvnd
Glasgow Llfe NulNply Fuad
On Route
Sanctuary Houslftg- 12 Days of Chrfstma$
The Eneroy 5èvlng5 Fund Cares
The Robertson Trust
VirglD Noney FoundalloTr
4.000
19,490
2,988
5.Z29
3,365
105.4?0
11,000
3.420
6,840
105.470
44.698
15,257
1.000
36,360
24.0
30,280
339,156
525.895
5. Income from Other Tradlnq A¢tlvkles
ZQ26
2025
Unrestrlcted UTrTe5trlcted
funds
Pantr¥ Income
studlo & roorn hSre
Love Ne Thlce
S5,968
20,363
40.635
21,701
1,449
8,38Q
4,530
23,733
Fun Mrne Frtday
Cafe Incor
Rentsl Income
Other InC￿lle
Jl,6ZI
Iz.847
18,935
665
120.399
100,428
Page 19

Southwest Arts And Mu51¢ Project
Notes to the Flnanclal Statements (contlnued)
For The Year Ended 31 March 2026
Net IncornellExpBndlture)
The net lexpendItu￿llhn￿me 1$ stated alter charg5ng11credl￿ng1.
2026
2025
Depreclauon of tangible t)xed a55ets- owne
147,794
151,213
7. Analy31$ of Expe*dltiJro
20Zfj
Actlvltlvs
und*rtak4n
dlrectly
Support
costs
15ee note 8}
TDtal
Charita￿E acti￿1{¢¥
Governance costs
348,853
406,558
7,440
755,411
7.440
348,85J
413.998
762,851
2025
Act{￿tIeS
d•rt•k*
dlrectlv
support
(see note 81
Total
Charltable actlvitFe5
279.132
3Z9,897
7,200
609,029
?,zoo
Gavernance c05ts
279.J32
337.097
616,229
e. Swpport Costs
2026
Ch#rlt*blo
activItI*s
eosts
7otal
Premises expens2S
General admlnisiradon
Dewedation
Govemance costs
66,833
191,931
147,794
66.033
191,931
147,794
7,44D
7,440
406,558
7.440
413.998
Page 20

Southwest Arts And Muslc Project
Notes to the FinancSal Statements (continued)
ForThe Year Ended 31 March 2026
aozs
CharltabEe Governance
attlvltles
Total
Premlse5 expen5ÈS
fjeneral adffllnlstrauon
Depreclatlo
Governance £05
51,761
126,923
151,213
51,761
126.923
151.213
7.200
7,200
329,897
7,200
337,097
udltor's R4munoratlon
Remwerdtbn rettlved by the charltable company's audIt￿5 and thelr assoclares rtudng the year was as fdiows..
3DZ6
2025
Audlt $ervlce
Audlt of the tompany'5 flnandal statements
6.000
6,000
othBr S¢rvliF$
Taxatlon CDmpllance service
Other non4udlt Se￿Ice$
240
2,1ts)
240
9GO
2,340
L,zoo
io. staff Costs
staff costs were a5 folltsws..
2026
2025
Wage5 afjd 5alarles
Olher penslon tosls
342,068
6,785
273,850
5,282
348,853
279,132
No employees recelved ernployee benefks leycludlD9 employer pcnsion costs) for the repo￿n9 perlod of more than ESO,UOO.
Key Management Personnel received rernulleration toialllng £69,246 12025.. E71,0(M)I.
11. Average NumbBr of employ¢e*
Avernye number of employee5 durtng the year was., 14 12025.. 121
Page 21

Southwest Arts And Muslc Project
Notes to the FlnancSal Statements {continued)
For The Year Ended 31 March 2026
IZ. TaTh9lbl£ Assets
AmprovemBnt
to Property
Flxturn$
Flttlngs
CDmPUtef
Egulpmefit
Total
¢95t
As Dt l Apiil 2025
Addit￿n$
1,994,597
?1,332
1,116
28,758
3,090
2,094,687
4,206
As at 31 Marth 2026
1.994,597
72.448
31,848
Z,098,893
Depreclatlo
A5 at l April 2025
Prvvlded ¢Juring the Wod
261,331
133.328
33,903
9,636
12,530
4,830
307,764
147,794
As al 31 March 1026
394,659
43,539
17,360
455,$58
Il¢t Book V&lue
at 31 March 2026
L,599,936
20,909
14,488
1,643.335
As at i Aprfl ZQZ5
1,733,26S
37,429
16,2Z8
1,786,923
2U26
2025
Due wlthln ono y¥ar
other debtor5
39.876
70,066
14. CredStorE: Amounts Falllny Wlthln On¥ Yoar
2Q26
2025
Accru￿$ and deferred (Tr￿me
18,381
17.978
15, Otlier CoTnmltm8nts
The trotal of future mlnlmvm lease payrnents vnder nDll-cancellablE operaung kases are 3$ Tollowln9.'
2026
ZOZ5
Nrt later thèn one yéar
Later thBn one year and not later thaTr five yea[5
Later than flve years
20,OQO
80.000
136.667
20,000
80,000
156,667
236,667
2S6,667
16. Penslon Cornrnltmonts
The charltable company operates 3 defined c0nrrfb￿￿lD￿ pen51on scherne. The 8s94ts of the scheme are hekl separately fmm
those of the charkBble ci)rnpany In an Independentty admlnlstered fund.
Durlng the year the tharge tD the 5tateTnent of flnan¢ièl actlvltles In respett ofdeflned ¢ontdbJtion $theffte5 was £6,785
12025.. £5,282).
Page 22

Southwest Arts And Music Project
Notes to the Financial Statements (contlnued)
For The Year Ended 31 Mar¢h 2026
17. f4ovÈment In Funds
As ai i Aprfl
2025
Asat31
March 2026
Income
Expendlture
7roh$ferx
Unre5trlcted funtl
General-
Gelleral unrestncled fund
259,313
L69,410
1277,3331
iio,ooo
261.391
DEslgnated.'
Oeyelopment of C8f8
Crynputer Systoms
Envlronmentsl ProJe¢t
50.000
30,000
30,000
150,QOO}
130,0001
130,0001
iio,000
Iiio,oooi
Total unrgstrlcted funds
369,313
169,410
1277,3321
261,391
Reslrlcted funds
Buildlng Fund
The Robertson Trust
IArgln Money FDundatlo
Glas9ow Comfflunlly Fund
DTAS
1,757,370
2,296
30,280
1157,4321
12,2961
130,2801
1105,4701
140,0001
{110,2251
139,8lSI
1.599,93B
105,470
40,000
110,225
39.816
Enable S¢*land
GECCO
To*al restr1￿erf funds
1,789,946
295,511
148S,5191
1,599.938
TOt*l
2,159,259
464,921
1762,8511
1,861,329
S èt l Aprll
2024
A$at31
ExperHllture March 2025
Income
Vnr8$trlct•d funds
General..
GoneTal unre$trtcied fund
Deslgnakd:
DEvelvpmettt ofcofe
Ci>mwter Sysrem5
Envtronrnental Prolact
188.784
259,539
1189,0101
259,313
50,000
30,OOD
30.000
50,000
30,000
30,000
iio.000
Iio,ooo
Yotal unrestrlcted funds
298,784
259,539
1189,0101
369,)t3
R25trf¢tEIt
8u11dlng Fund
The Robertson Trust
1,813,530
6,022
36.360
24,000
192,5201
127,7261
1.757,370
2.29S
.CONTINUED
Page 23

Southwest Arts And Musle Project
Notes to the Financial Statement$ (continued)
For The Year Ended 31 March 2026
Glasgow Clty CouThcll- Wlnnle Dr1nkV￿ieT
ryln Money Foundauon
Sanluary Housln9
Glasgow Communlty Fund
rAS
1.073
IL.0731
30,280
30,280
11,000
Iii.0001
{105,470)
140.300)
11,0001
(76,1521
115,2571
(56,7211
105,470
40,300
I,aoo
76,152
15,257
56,721
Sanctuary Hobslfig
enèblE Scolland
On Rgute
GECCO
Total r¢strleted fLtnds
J,831,62S
385,540
1427.2191
1.789.946
Totsl funds
130,4Dg
645,079
1616,2291
2,159.259
18. TrJnsactlons wlth Trvstees
Durin9 the year, the charfty pald tnjstte remuneratton of E4,UOO 12U25: É4,OODI.
No trijstee expen*s have been In¢urrEd.
19. R*lat•d Patrty Dlsclosures
During the year, the thadty pr¢wKled goods and Se￿CeS worth É3,0(h) to South West Comrnunlty Trnnsport a £harfty that
share5 a cummcn tr5J5tee with SDUthwest Arts and Mu51c Projett.
Dvrtng the year, the charlty recelved goDds and servlces Worth 1689 from South West Commlnlty Transport, a charlty that
shares B cornrivJn trustee wlih Southwest Arts an(1 Music P￿jeCL
20. company Ilmlted by yuarantee
The company Is limlted ty 9uarantee an¢J has no share capltsl,
Every rnember of the company undertakes to contrfbule to the asset5 of the corryany, In the event ora wlnding upt %uch #h
as rnay bÈ reqvired ￿01 exceedlng £1.
2L. FR¢.5 Etbital Standard- Pwvlslon Avallabl¢ lor Small Entltles
In comnson wlth other buslaesses of our slle and nature we use QUE audltors to prepare a*)d submir returry% ro the tax
atsthoritks and i5￿$t the prepdr6tyDD of the finandal statements.
P&9e 24

Southwest Arts And Muslc Project
Detailed Statement of Flnancial Activitles (Includin9 Income and Expenditure Account)
ForThe Ytar Ended 31 March 2026
2026
2025
otal
fvjnds
Total
funds
INCOME AND EtIDOWMENTS FRON,.
DoDatlots$ and l•gacld
Ponatl¢ns ar¢d gllts
Glft vouchers
4,830
436
10,756
,000
5,266
16,756
Charitable ActlvFiles:
Charltable actlvltles
Grants
339,256
525,895
339,256
525.895
Other tradln41 a¢tlvltl*$
Panty Income
studlD & morn hlre
Love Me Thl
Fun Tlme Frfday
Cafe Income
Rentsi Income
Other Income
55,9SS
20,363
40,635
21,701
1,449
8,380
4,530
23,73J
11,621
12,847
18,935
6S5
120.399
100,428
464,921
645,079
EXPENDITURE ON,.
Charltable Actlvltles:
Charltèble acllvltles
Wèges and salarfes
EmpEoyers penslons- define¢J COnt￿but￿n schemes
Rent and Inwrance
Rates
Ught and heat
Comptster and IT con5u1na￿e5
Repalr5. malntenance and deanlhj
Printingi PO$tage and slatvJnery
Telecolnmunicatsons and dat3 Costs
Professional fEe5
Cafe expcnycs
Grant undErspeAd reclalrned
Fun Tlme Frfday expense5
Pantry costs
Event5 & hall hlre expenses
Prtslect costs
Subscrfp￿onS
payroll ftes
8ank charges
Sundry expenses
1342,0681
16,7851
131,4951
111,061)
124,Z771
{71DI
119,3471
14841
110,3341
148,1571
19,8331
15,9851
110.7871
116,0661
12,6411
{2L,4901
13,1311
12,5101
1273.8501
15,2821
124,3061
14,0261
123,4291
11,8761
114,530)
11,357)
17,9851
15,3e81
12,7281
11,0851
112,3211
116,4831
12701
116,5741
110.8391
IZ.4571
14751
15141
..CONTIP4UED
IL,1901
Poge 25

Southwest Arts And Music Project
Detailèd Statement of Flnancral Actlvities (including Xncome and Expendlture Account)
(continLted}
For The Year Ended 31 March 2026
Tutor & 5e55v2nal fee5
16,OILI
12,6401
14,379)
117,1701
19,0461
1133,3281
{9,636)
14,830)
14,1281
Travel & excursion
Workshop c05L5
Tralninq covrses
Tralnlng allowances
Depre￿atIOn Of Improvements to property
Depredation of fixrures and fitting5
Depreclatlon of tDmputEr equiptnent
16551
114,3861
112,3551
1133.3281
112.4761
15,4091
17S5,411)
1609,0191
Governance costs
Audll fees
17,4401
17,2001
17,4401
17,2001
1762,8511
1616,2291
NET {EXPEf4DITURE)/INCOME
1297,930)
28.850
P4ge 26