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 P￿SUre 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 pers￿al appro￿h.
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 ag￿ed 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 i￿rred) by Perth
& Kinross Council foi instrumental rnusic tuilion andlor attendance at Central Groups. V4È to fund
fees charged lo young mUs￿lan$ across the Perth & ￿"nrOss Coun¢il area vtho come from financial
challenged familles and to supw)rt the Instnjmentsl Music se￿￿e to WOVKle music lurtion for all Perth &
Kinross ￿h0o1 children. To further these obpcts, we appPy grant fundirvj (where pxs1b￿l, 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 re￿ived 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￿ lui￿n 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 end￿1 30 June 2026 Trte £438 {2025 In￿Ming £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 reS￿n￿l￿e 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(x￿nts as prepared
under 8￿tIOn 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$equentty, no opinion is given as lo whether these &counts pr8sent a Irue and fair v￿1., and
this repJ1 is limrted only to those matters set out in the Statements beky4Y.
INDEPENDENT EXAMINER'S STATEMEKr
In the course of my 8xarninat￿, no matter has come to my attenlx)n,
1- 1Olhich gNes me rea80nable cause to bell&ve in ary material respect that the requirements
lal
to keep accounting f￿rdS in accordance wrlh S&tts)n 4411 }la) of the 2005 Act and Regulation 4
of the 2fTh Acccyjnts Regulat￿ns,. and
Ibl
to prepare accounts which accord with the accLwntirvJ r￿d$ 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 y￿r 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 Re￿Ned 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 cu￿ent 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
' finan￿S 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