Charlty Reglsterod Number SC 027457 PERTH & KINROSS MUSIC FOUNDATION FINANCIAL STATEMENTS Year to 30 June 2026
PERTH & KINROSS MUSIC FOUNDATION CONTENTS Page Trustees, Annual Report Independent Examinerfs Report Receipts & Payments Account Statement of Balances Notes to Financial Ststements Reseprfes Policy
PERTH & KINROSS IAUSIC FOUNDATION TRUSTEES, ANNUAL REPORT The Trustee$ have PSUre in presenting annual reFth and financial statements for the Charity for the year ended 30 June 2026. Reglstered Charity Name Perth & lfjnross Music Foundation Charity Registrnlion Numb•r SC 027457 THE TRUSTEES Mrs M MacKinnon (Chairperson) Ms L Paterson MrA Mitchell (Vts Chawpers¢)n) Mr N CopLand ffreasurer) MrG Murch Selection was by way of persal approh. SECREfARY Mrs Sheila Herron INDEPENDENT EXAMINER Mr Bruce Quine STRUCTURE, GOVERNANCE & IAANAGEMENT The Charity was established in 1998 and is govem•J by, 8ThJ in with, 118 constitution wh was reviebved and updated in February 2020. The updated ¢on8tbtution document was approved by OSCR in March 2020. The current Constrtution documenl was reviewed at tha Trustees. m88ts.ng on 11 February 2025, and rt was aged that no changes were necessary. OBJECTIVES AND ACTivrnES The object of the Charity is to raise funds to pay the fees dwrged (or associ sts irred) by Perth & Kinross Council foi instrumental rnusic tuilion andlor attendance at Central Groups. V4È to fund fees charged lo young mUslan$ across the Perth & "nrOss Coun¢il area vtho come from financial challenged familles and to supw)rt the Instnjmentsl Music see to WOVKle music lurtion for all Perth & Kinross h0o1 children. To further these obpcts, we appPy grant fundirvj (where pxs1bl, seek donations, and organise fund raising events. In January 2019, Trustees agreed to establish a Reserve Fund up to a maximum value of £25,000 to meet unanticipated fijture events. The full Policy is Set out on page 8 of this document. ACHIEVEMENTS AND PERFOWNCE Fund raising events generated £1.410 (2025 £1,377). Gfft Ald Recovered from HMRC lotalled £1,214 (2025 £0). Donations received amounted to £1,65512025 £4.495). Grants reived from TrustslAwarding Bodies tolalled £3,500 (2025 £3.200). During the year, grants and other oxpensas t(rtalIN £8,84012025 £8.3761 were paMI (XJL This sum included the grant pahl to the Instrumental MUS Se to supp)rt the increase in the number of young people applying for muslc tuition. This foilcrws the atx)litw)n of fees try the Scottish Govemment from August 2021. Perth & Kinross C(aJncil has Confim) th* rnuS luin fees were fomialy abolished by them from August 2022. Hchvever. in August 2024 fees for attendance at Central Groups were introduced by Perth & Kinross Council. Financial suppJ1 to individual applicants to cover Central Group fees are included in the atx)ve fvJure. FINANCIAL REVIEW The net outgoing resources Ihe end1 30 June 2026 Trte £438 {2025 InMing £1.545).
PERTH & KINRO&S IIJUSIC FOUNDATION INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF PERTH & KINROSS MUSIC FOUNDATION I have examined the Management Ccrfnmittee's rewt. the ChaTitYs accounting records. the Receipts and Payments Account, the Statement of Balances, and the attached Th)tes for the year ended 30 June 2026 of Perth & Kinr05s Music Foundation {Charity Number SC 027457) a5 set on pages 5 10 8 of this RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The Charty's Trustees are reSnle for the preparation of the xcounts in accordance with the tem18 of the Charibes and Trustee Investment IS¢otlandl 2005 Act. and the Charities Account8 {S¢otiand) Regulations 2IJ06. The Charity TTu5te85 conshler that the audit requirements of Regulation 10(1) (d) of the Accounts Regulations does nol appty. It is my responsits'lty lo examine the ac(xnts as prepared under 8tIOn 44(11{¢) ofthe Act and to stste whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination is camed out in accordance with Regulation 11 of the Charitie$ A¢¢ounts {ScotLqndl Regulations 2006. Thts examination induded a rv4iew of the accounling records kept by the Charty, and a comparison of the accounts presented from those records. l also included consideration of any unusual items or disclosures in the accounts and sought explanations from the Trustees conceming Such matters. The procedures undertaken do not provmk all the ev118n that woukl be required in an audit. and con$equentty, no opinion is given as lo whether these &counts pr8sent a Irue and fair v1., and this repJ1 is limrted only to those matters set out in the Statements beky4Y. INDEPENDENT EXAMINER'S STATEMEKr In the course of my 8xarninat, no matter has come to my attenlx)n, 1- 1Olhich gNes me rea80nable cause to bell&ve in ary material respect that the requirements lal to keep accounting frdS in accordance wrlh S&tts)n 4411 }la) of the 2005 Act and Regulation 4 of the 2fTh Acccyjnts Regulatns,. and Ibl to prepare accounts which accord with the accLwntirvJ rd$ comply with Regulation 9 of thè 2006 Accwnting Regulatths: have not tjeen met: or 2- To vthi¢h, in my Opin)n. attentlon should be drawn in order to enab a proper understanding ofthe accounts lo be reached. Bruce Quirie Perth ScotlarKI 27 Juty 2026
PERTH & KINROSS MUSIC FOUNDATION RECEIPTS & PAYMENTS AccouKr for the yr ended 30 June 2026 Total Funds Total Funds 2026 2025 RECEIPTS Voluntary Income Investrnent Income 7,779 623 9.072 TOTAL RECEIPTS PAYMENTS Grants and Other Expenses 8.376 TOTAL PAYMENTS NET INCOMINGIOUTGOING RESOURCES FOR THE YEAR TOTAL FUNDS CARRIED FORWARD 32 The Reckipts and P8yrnents Account indudes all gains and losses in ts year and therefore a totsl recognised gains arKI losses report has not been prepared. All the above amounts relate to continuing acb'vits'es.
PERTH & KINROSS MUSIC FOUNDATION STATEMENT OF BALANCES as at 30 June 2026 2026 2025 CURRENT ASSErs Cash at Bank - CurrentAccount Deposit Account 6,890 25,000 7,328 25.000 ET CURRENT ASSETS TOTALASSETS LESS CURREKr LIABILITIES FUNDS Unrestricted Income Funds Reserve Fund 6,890 25.000 7.328 25,000 TOTAL FUNDS 32.32 These financial statements were approved by the Tnjstees on 18 August 2026 and are signed of their behalf by: Mr N Copland, FCCA. FMA4T Treasurer Mrs M MacKinnon Chairperson
PERTH & KINROSS PAUSIC FOUNDATION Notes to the financial statements for the year ended 30 ju 2026 Unrestricted Total Funds Total Funds Funds 2026 2025 1 VOLUNTARY INCOME Grants ReNed from AwardiNJ Bodies Donations Fund Raising Activits"es (Gross) Gift 'd Recovered Other Income 3,500 1,655 1,410 1,214 3,200 4,495 1,377 1,655 1,410 1,214 TOTAL VOLUNTARY INCOME 2 INVESTMENT INCOME Bank Interest Receivable 623 623 TOTAL INVESTMENT INCOME 623 623 849 Granl Fundlng Activitles 3 GRANTS AND OTHER EXPENSES Financial Assistan & Grants Pamj Costs in furtherance of Charitable Activtlies Honorarium Fees Other Costs 7.896 40 40 440 TOTAL GRANTS AND OTHER EXPENSES STAFF COSTS AND ElslOLUMENTS No salaries or wages have been paid to empbyees. induding members of the Mmittee. 4 RESERVE FUND In January 2019, Trustees agreed to establish a Reserve Fund to cater for any unexpected increase in applications for financtal assistance. andlor a redudion in incc¥ne from fund raising activities, andlor grant *warding IxKlies. The maximum amount to be held at any one time was initially agreed as £25.000. The full Reserves Policy approved by Twstees is published on the following page This was reviewed at the Foundation's AGM in August 2025, and no changes were made. There were no sums transferred to the ReseNe Fund during the cuent year.
PERTH & KINROSS MUSIC FOUNDATION - RESERVES POUCY The undemoted reserves policy was approved by TTUStees at their meeting on 8 January 2019. Description of the charlty. Its beneficiaries. and its fundlng streams. Perth & lQnross Music Foundation was established in January 1998 to help advan the instrumental music educats.on of the pupils of Perth & KInr&S schools. The beneficiaries of the Foundats'on's acttvities will be families from low-income households across Perth & Kinross, whose children are accessing either individual instrumentsl music tuition andlor participating in Central Group activities organised by Perth & lfjnross Counal Instrumentsl Music Service. In addits'on. the Foundation will provide assistance to the Instrumental Music Service itself by way of a grant to cover the costs of educabonal resources to support the conbnued provision of instrumental music tuition. The chanty will raise funds Ma locally organised fundraising events, seeking donats'ons from individual and group sponsorslsupporters. and applying to grant awarding bodies (both nats'onally arKI locally) whTrth support the promotion and provision of music tuitionleducatson for young people. The ratlonale behlnd the reserves pollcy. The purpose of this reserves policy will be to secure the future sustsinability of the Foundation's ' finanS in the event of unanticipated levels of applicatsons for financial support, andlor a reduction in funding secured from grant awarding bodi88, or from our own fundraising events and supporters. Stsps laken to establish the level of reserves. The Trustees have considered the various issues surrounding whether or not a reserve fvnd Is necessary and have reached the conclusion that it would be financially prudent to establish a reserve fund to ensure financial sustainability for at least one yeals operats'ons, thus allowing Trustees to review activib'es arKI take appropriate action to resporxl. shoukl any of the above events materialise. The level of reserves to b8 held. An initial maximum of £25,000, was agreed to be set a8Kle incrementslly a8 finances allow over the coming years. How and when the Res•rves Pollcy wlll be rnvl•*d. This Reserves Policy, and the balan to be held in the reserve fund, ill be reviewed by Trustees annually at The Foundats'on's Annual General Meeb"ng. 8 January 2019