REGISIERED CHARITY NUMBER: SC033930 Re HI hlaiid Muse of Childhood ijn15al
hl Museum ol Child A Scotts'sh Charitable Inco an rated Cont or the Ye anoal Slaiem nded 31 Ma Page Report of the Trusiees IndeperKlenl Examinerfs Rep Statement of Finanoal Activities Balance Stheet 10 Notes to the Financial Slatwnents 11 to 18 Detailed Statement of Financ4al Activitses 19 to 20
hland Museum of Childhood A Scottish Charitable Inco orated Or on Re of the T stees for the Year Ended 31 March 202 The financial slaiemenls have been Prepared in accordance wryth the accounting policies sel our in note 110 the accounts and comply wrth the Charities and Trustee Investment (Scolland) Act 2005, Ihe Charities Accounls (Scolland) Regulations 20 (as amended), and Accounting and Reporting by Charities'.statemenl of Recommended Practice applicable to charities preparing their accounts in accordance wlh Ihe Finanaal Reporting Standard applicable in the UK arKI Republic of Ireland published on 16 July 2014 (FRS 102}. OBJECTIVES AND ACTMTIES Objectives and alms The main aims of the charily are.. 1. AdVanrnent of heritage and ajlture relating to mainly the history of thildhood Nmlhin the Highlands area (and Islands if relevant) also to the local history of Slrathpeffer. 2. Advancement of education in relation to the hi$tw of ch51dhood within the Highlands area (and Islands if relevant). 3. The preservation of the Museum and rts colleciions and to mak8 them fully accessible to everyone. Strntegic Objectlves Detailed operational aims and objectives are reviewed and rewsed each year and detailed in the organisation's Strategic Plan, having regard for areas such as sustainability and general operalions, colledions management. workforce devetopment and engaging v4ith audienc4s. From the Strategic Plan covering the period 2024-2027, the following objectives were set for 2024-2025: - Maintain and explore now methods of income generation. Establish new commercial lease document for us8 With Old Slation tenants. Progress through the reaccreditation process to retain Accredited Museum status. Develop action plan and explore funding opportunilies for Building Repair & Preseplation Project. Continue to develop Ihe museum k[orCe through support of existing Vbrrkforce and recruitment of new volunteers and Irustees. - Engage Kith the local communty by offering a programme of events for a range of audiences. Page 1
hland Museum of Childhood A Scollish Charitable Incor orated Or anisalion Re orl of tlie Trusiees fof tlie Year Ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE Charitable activities Financial Sustainability and Resilience The museum continued to demonstrate resilience throughout the year, adapting lo changing circumstances while ensuring a stable financial posilion. The current account balance of unStriCted funds fluclualed belween £10,000 and £14,000 across the year, wilh an addition81 £21,000 held in reserves. Reslricled funds were effectively managed lo support dedicaled projects, including workforce development and drafting of legal documents through the EDF Corriemoillie Communily Fund and the MacKenzie New York Villa Trusl Fund, Gaelic language development through Museums Galleries Scolland and Bord na Galdh1, and exhibition development through Ihe Royal Society. Utilily managemenl and $e mainlenance were ongoing priorilie5. The S1¢h lo Oclopus Energy in July 2024 delivered projected sawngs of around £1,000 annually, vthile progress knlith Highland Broadband aimed to improve digital connedivity across the Old Slalion sile. The museum's tenanls continued to contribute posilively to the site's vrbrancy. New landlord responsibilities resulted in energy and asbestos surveys across the site to enable acquisition of neSSary certific£les. While the café lease remained under review for much of the year, new café tenants delivered a welcoming service throughout the peak season bul tenInated tenancy at the end of the financial year ending in March 2025. Station Trading shop and True Beauty salon both renewed their one-year licences. Externally, the museum's repulation for professionalism and community involvemenl was strengthened through participation in regional partnerships, induding Museums and Heritage Highland (MHH) and several joint funding initiatives. The museum's OSCR, HMRC, and payroll obligations Vlere consistenlly met, and Highlife Highland's SeNice Level Agreement continued th success, providing continued funding support of £6,272 for 2025. Page 2
hland Museum of ChiloThood A Scottish Charitable InGo ale anisaiion ort of Ihe Trustees for the Year Ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE Worfrfor¢e Development Volunteer engagement remaned at the heart of the museum's activty. Regular volunteer sessions SUPPOrted b)Ih fronl-ol-house operations and behind-th&scenes collections work. The Volunleer Garden Group reconvened in spriro 2024. manlaining Ihe outdoor spaces throughout year. Funding from Ihe EDF Corrierrnillie Comrnunity Fund supported a range of workforce initiatives, including volunteer Irainiro, a regional nelworkng day, and ongoing collaboration with Dingwall Museum. Exchange visits were arranged to Sha best pracaice in objed entry and colledions care, while volunteer Chn'stmas ar#J social gatherings helped rnaintan a strong sense of community. The museum also benefited from the ccntributions of new skilled ind'viduals in June 2024. Retired ieactter Parnela Mcclelland shared knovAedge and eXperie1e through school iisits and thildren's aoivities, lIst tired Witage trustee Peter Anderson helped prOgs$ cataloging and d0Mentaon Mork. These efforts, algsIde steady recruitrnent and retenti. have enhanced boih Ihe museum's capaoty ar the quality of visitor experiCe. The 8oarcl of Trustees cnI1)ued to wCk as a slrong and effectjve management unit throwjhout Ihe year and welcomed 10 the Board in January 2025. The entire museum community was saddened by tr)e passng d longstanding trustee, in February 2025. had been a driving force in Ihe museum's establishment In the eany 1990s and continued lo demonstrale his staunch SUPFQrt and advocacy for the museurn and Old Statson right up untj'l his passing Training arKI professional development conlinued through participaiion in sector projects. Staff attended a Highland Heritage netsrkIng day and a Royal Society netvK)rkirvJ eveni in Edinburgh and contributed to mulli-museum Initiats'ves such as Augmented Reality, GlIC Develownent, and Visit Scotland Tourism proiacts. These partnerships have provided not only skills and insights but also nthv opportuniti•s for digital engagemenl, audience developmenl. and community wellb&ng. Exhibitions and Collections For the 2024 season. Ihe museurn's displays b%ere refreshed wilh to-cxjralion from Ihe museum's volunteers. those new objects for th'srAay in Ihe of doms. soft toys arKI games from displtyiro a 3eleGtK>n co lection Ihal founded the museum. Other notable installalions induded Ihe gianl Tudor dolls, house donai6d by Ihe late and a redisplay of the Birth and Beliets exh1brt1c. Collection5 managemem and ac(Teditalion I1k rèrnained in order. museum continLd lo work Mth Museums Galleries Scotland on rts accTrdilation rgnevral application and yrked on finalising updated polioes and docurnentation by year end. Notable acquisitions included an earty Simon & Halbig doll. a homemade 19405 doll's pr8m. and a range of donations from Mabel MarAulay, induding domestic objecls linked to island &'fe. In tolal, the rnuseum received fcrty-eight objects from INlve donors through the cowse ol thè year. Preparations We also made for the large treqUeSt. scheduled for colledion from Aberdeen at the erKI of 2024. This donatr, womises to enrich the museum's collections synificantjy, as I11 as contributing to the museum's financial resilience through a gifted financial legacy Volunteers have toen activety engaged in sorting, cataloguing and dccumenlation of this new collection. Page 3
hland Museum f Childhood A Scollish Chanlable Inco orated anisaln Re ort ol the Trustees for the Year Ended 31 March 2(Y25 ACHIEVEMENTS AND PERFORMANCE Leaming and Engagement Leaming and engagement remained vibranl throughout the year, despite nucluating bisitor numbers across the summer season Betn May and Augusl 2024, Ihe museum V1¢0med over 150 visitors, with a slight dip in litheled income bul steady donations and strong school engagemenl. The addition of digiial donalion optnS Nia QR codes and a renetd push for Gift Aid daims helped suslain income levels. A de range of )rkshopS and public events tre deliNtred, induding the Easter Trail, Teddy Bear's Picnic. Puppet Making, Mini Beast Safari. ar seasonal favY)uriles such as Halloween crafts and vKeath-making Orkshops. The museum also partiapale<l in regional events, ir)cluding the Strathpeffer Community Science Fair, a Places of Srience mini-exhibition on peal and Victorian hearth altraded signÉficant engagement. Educational visits continued to gr(M, sctrmls from Strdthpeffer. Kiiieam. and Dornoch participating in visits or resource loans. The museum also hosted group sessions for WRI groups and private bookings, helpirKJ to extend corrrfnunrty reach. Collaborative projects added deplh to the nwseum's leaming offer. The Gaefic Development partnership ith Gairloth, Applecmss, and West Hhland Museums continued, attracting new relakn'onships 1th Bun-sgoil Ghaidhlig Inbhir Nis (Inverness Gaelic Primary School), Bun-sgoil Ghaidhlig Phort Righ (Portree Gael Prsmary School), Bun-sgoil Ulapuil (Ullapool Primary Gaelic Medium Department). all visrted the museum. The projed also produced plans to curate bilingual resources and an exhibilion thal explores the Gaelic language in education and chiklhood for installatiL)n during the winier of 2025. The museum also supported the Invemess Castle Redevelopment Project, due to open late 2025, providing 3D srans of 'Jill's Bgin,. a doll's uoft house. for inclusion in a digilal storybook of Highland heritsge. Through these inits'atives, the museum strervJlhened its role as both a cunural and so(aal space ere hist¢xy. creativity, and vRllbeing intarsecl fof people of all ages. FINANCIAL REVIEW Financial position In the year under review the dHnty rnade a defial of £2.725 (2024. £4.394) on unrestricled funds. A surplus of £3.130 (2024 - £1,471) a5 recorded on restricted funds. At the year end the charity had £29,240 (2024. £31.965) of Unrestried funds, of ¥thich £28.7C6 held in the bank. The were £385,556 (2024, £382.426) of restricted funds, most of ch vrds represented by fixed assels, particularty the buildings at Slrathpeffer. Investment policy and objectlves Under the conslitution, the chanty has the po*er to Inve in any w Ihe trUee5 see fil. The Trustees, having regard to Ihe requirements of operational acti¥ities and future development costs, have operaled a reserves polw of keeping aVailae funds in a savings a¢xount and seek to athieve a rate of deposit interest vthich matches or exceeds inflation as measured by the retail pri index. Due lo the unstable financial dimate during the year, this objective has not been athieved. Page 4
hland Museum of Chihdhood A Scoltish Charitable Inco rated anisation ort of the Trustees for the Year Ended 31 Ma 02 FINANCIAL REVIEW Reser4es policy The trustees have eslablished Ihe level ol reSerS (that is those funds Ithich are freely available) that the charity should hold. The actual reserves at 31 March 2025 ere £29,240 (2024 £31,965) in unrestricted reseNes. Total costs of charity in 2024-25 bre £37,227 and Iherelore the charity has around 9 monlhs ol Costs held in reserves re rt to suffer a sudden loss of fuTrJing and required to make an emergency plan. The trustees are satisfied with the current level of free reserves. FUTURE PLANS In 2024, the Board of Trustees established a new three-jear Strategic Plan, coveriry the period April 2024 to March 2027, having regard for areas suth as sustainability and general operations, collections management, 7•y)rf(force development arKI engaging ryth audiences. From the Slrategic Plan covering period 2024-2027, the follon9 obJ"ectives Te set for 202&2026'. Improve FinancFal Suslainabilrty ty.. 1) Regularly monitoring income & expenditure, 2) Creating opportunities for new income generation, e.g. Travel Trade Bookings. annual raffle 3) Maintaining opportunities for regular fundraising. e.g. markets. vnrkshopgevents. Improve Structural Resilien by: 1) Establishing scope of w)rks ne$Sary for building preservaticm. 2) 1dentrfw.ng possible funding sources fly necessary Maxirnise Potential of Collecti¢ by: 1) Refreshing museum exhibitions, 2) Exploring opportunities for interpreting tX•Uedion in a variety of aYs, e.g. digital. audio, visual, 3) Collaborate ith other organisations to share skills and resources. Improve Wod(forc Resilien by. 1) Recruiting more )lUnte5, 2) Exploring opportunities for support staff, e.g. leaming & engagernent *KI volunteer support, 3) Conlinue opportunit3 for volunteer development. e.g. training, exchange visits, peer to peer support. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Highland Museum of ChdhoOd became a Scottish Charitable IncorFK)rated Organisation (SCIO) on 10th Odober 2019. Previousty charity Wds constrtuied as a cornpany limited by guarantee and govemed by its mernorandum and Artides of Association datod 7 January 2CIJ3. The charity is now govemed by its cCst11UI10n dated 1 Oth Oca(knr 2019. Recruitment and appointment of new trustees Under the requirements of the Constilution, new Trustees may be elected as c&opted rnembers by the Board of Trustees al any Board Meeting. When considering cTropting Trustees. the Board has regard to the requirement for any speaalist skills needed. At every AGM, new Trustees may be appointed as eleded by the Board. Trustees may serve on the Board for up to three years, after which it may be the Members, and Trusiees. express desire to r&eleth immedialely thal Trustee to the Board for a further three years. There must be a minirnum of 4 and a maximum of 8 members, one of whom musi be nominaled as Chairperson of the Board by members. Page 5
hland Museum of Childhood A Scottish Charitable Inco oraied anisalion Re orto Ihe Trustees for the Year Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structUfP The Board meets six-weekty to review perfomwnce and agree objectives. A Curalorlmanager is appointed by the Board lo manage Ihe day-to-day operations of the charity. To facilttate effective operations, the Curatorlmanager has delegated authority for operational rnatters including finance. employment, and museum-relaled activrty. Induction and training of new trustees New Trustees are invited to a tour of the Museurn and di$¢SSIonS aboth the Trusl with Ihe Museurn Managerlcuralor. They are presented vAth a Trustee Pack,, consisting of the Conslilulion, organisalion's Slralegic Plan, recenl FinancRI Perfwnance Reports and guidance on Ihe Board's meeling and decisiorMakIng processes. Trustees are encouraged lo attend appropriate external Board Devel¢)pmenl training evenls. kntsre these 111 faoliiate their role. Wider networt¢ The organisation is supported by an annual revenue grant from High Life Hyhland, linked to a SeNce Level Agreement (SLA), monitored by annual returns and Statutory Perforniance Indicators (SPIS). It is also fulty ac£redited through the Acclia110n Scheme for Museums in the UK and wDrks closely 1th the regulatory body, Museums Gallerie5 Scotland, to maintain national industry standards. The organisation is a member of the Association of Independent Museums and Museums and Heritsge Highland, herrtage nellwrk and in dose partnership with strathpeffer Community Development Trust, fellcm HighlarKI museums. and olher regional and national groups and organisations working to promote education. heallh and wellbeing for individuals of all ages and abilities. The Museum's Curatorlmanager is a member of the Museums Association (MA) and the Group for Educalion in Museums (GEM). Risk management The Trustees have a risk management strategy wnprises.. a} An annual rewew of the strategic plan, V•ith regard for prospective risks and Ihreals to Ihe chartty. b) The establishment ol systerns and CedureS to mitigate those risks identified in the plan. c) An annual rewew of prewous income and expendrture and esLiblishment of an annual budget. d) PParats.0n and revithv of regular finan081 mlIOring reports. el An up-t¢>date Th'saster Plan. Q Maintenance of a contingen Fund. REFERENCE AND ADMINISTrATIVE DETAILS Registered Charity number SC033930 Princlpal address The Old Station Slrathpeffer Ros&shire IV14 9DH Page 6
410 'art Mu"Eerrl oi Cttatsble In( .rnisab2n fcr the Year ded 31 Marth 2025 Independent Examin•r Chartered ACO)uniarts Unit 8 Colspie Business Pat olspie Suthertand KW10 6U8 SofieitQfS MxLeog & Maccaium So&1015 8 Estate Age 28 Queensgate Inveffless IV1 1YN Banker5 Royal Bart of Scol Ffjgh street Einwall IV15 9HA Approved by order of ts tx)ard of trustees on . behalf by. and signed on its Page 7
IneeJendeY Ex&nirrf5 Re nd Museurn ol n io the Trustees of I report on the accounts fcK the year erKle(131 Marth 21)25 sei out on pag8s nine to eighteèn. Re8pective rnsponllbilities of tru•t•as and exarnlner The charity's Irustees are re3w)nsible lor ltte wepara1n ol the accotmts in 8cwrdanee with the tems of the Charilies and Trustee Inveslrnent (Scotlandl Aet 2005 and Charities Actounts (Scdland) RegulatnS 2006 (as aMded). The thaptys trustees consider Ihai the audit rèquiremenl of Regulation 10(1 Ila! lo (c) of Acc(AJnt5 Regulations does not apply. It is ry responsibility to examine accounts as required under Secticn 44(11(c) ol th• Act and to stale ether particular matters have come to ry attenlirn. Bagis of the independenl examlnefs report My eXaminatn ds camed 1 in acccydance Ru}StIon 11 of the Charities Accounts Iscoiiand) Regulatn$ 2006. An examination includes a review of the accountin9 reGords kept ty the charity arKa a comparison ol &counts pyesemied Imlh th)se records. 11 also indudes nsideration of any unusual rtems or disdosures in the accounts, and wking explanations from you as Irusiees concemiThJ any such matlers. The procedures undertaken do nol provide all Ihe iden¢ Ihat w)uld be required in an aJdiL and consequenuy l () noi ewess ar. audit opinion oft the vithv given by Ihe &counls. Indep•nd@nt exarnin•rfs slat•m•nt In connedicn with my examnatK)n. no matter has come to my attention '. (1) 1th give$ me reasonablé tsuse to Weve Ihat. in ary matarial r8spect, the requrements to keep ac¢oJntng recy)fds in aCCordce SeclTh 44{11(a) of the 2005 Ad and Regulain 4 of Ihe 2C Accounts Regulations.. and lo prepare accounts accfjrd wth the accountiThJ rd$ and • compty ith R•gulation 8 01 the 21>J6 Accounts Regdations have not teen fft: or (2) to which, in my opinion, attention should be dr in Cfder to able a proper urmlerslanding ol the CnIS lo be reKhed. ns ered Accwntanls of Scotland Mackay & Co Chartered Accountsnts Golspie Busirnss Park Golspie Sulhertand KW10 6UB 241) Page 8
hland Museum of Cliildhood A Scoltish Chanlable Inco orated anisalion Statemenl of Finanoal Activities for the l'ear Ended 31 March 20 31.3.25 Total funds 31.3.24 Tolal funds Unreslricled Reslricled fund funds Noles INCOME AND ENDOWMENTS FROM Donations and gaCleS 4,082 476 4,558 1,519 Charitable activitiès Preservation and display 14.047 18.891 17,963 Olher Ir8ding activities Inveslmenl in¢XJme 16.076 297 16,076 297 16.332 279 Total 34,502 5.320 39.822 36,093 EXPENDITURE Raising funds 1,324 Charitable activlties Preservalion and display 36,563 2.190 38.753 37,692 Total 37.227 2.190 39,417 39,016 NET INCOMEI(EXPENDITURE) (2.725) 3,130 405 {2,923) RECONCIUATION OF FUNDS Total funds brought forward 31,965 382,426 414,391 417,314 TOTAL FUNDS CARRIED FORWARD 29,240 385.556 414,796 414,391 The notes fm part of these financial statements Page 9
hlaiid museu[ ol Childhood Ilish Charitable In r8ted anisaiion Balance Sheet 31 Marth 2025 31.3.25 Total funds 31.3.24 Toiai funds Unrestricted Restri(aJ fund funds Notes FIXED ASSETS Tangitle assets 3W.751 3,751 380,831 CURRENT ASSETS Slocks C8sh al bank and in hand 10 1,883 28.71 1,694 33,083 4,805 33.511 4,805 35,394 CREDITORS Amounts lalling due Ythhin one year 11 (1,349) (1,349) (1,217) NeT CURRENT ASSETS 29,240 4,5 34,045 33. TOTAL ASSETS LESS CuRRT LIA81LITIES 29,240 385,556 414.796 414.391 NETASSETS 29,240 385.556 414.796 414.391 FUNDS UnncIed funds Resin¢aed funds 12 29,240 385.556 31,5 382,426 TOTAL FUhr)s 414.796 414,391 The financial statements FAere approved by the Board of Tnjstees and auth)ri5ed for issue on . and vre signed on Fts behalf by.. The notes form part of these financial statements Page 10
hland MJI seurr of Chi':dlood A Scottish Chantable Inco oraled anisation Notes to the F ancial siatemenls for the Year Ended 31 Marcli 2025 LEGAL STATUS OF TrIE CHARITY The charity is consliluled as 8 Scollish Charitable Incorporaled Org8nisation. ACCOUNTING POLICIES Basis of preparing the financial statements The Iinancial statements of Ihe charity. whh is a public benefit enlity under FRS 102, have been PPad in accordance wlh Ihe Charities SORP (FRS 102) 'Accounting and Reporting by Charities Stalemenl of RecoMffnded Practice applicable lo charities preparing their accounts in ac£ordance wth the Finanaal Reporting Slandard applicable in the UK arKI Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applLgble in the UK and Republic of Ireland, and the Charilies and Trustee Investment (Scolland) Aca 2005. The financial statements have been prepared under the historical cost convenlion. Income All income is cOgniSed in the Statemenl of Financial Activities once the charity has enlillemenl to Ihe funds. il is probable thal Ihe income will be received and Ihe amount can be measured reliabty. Expenditurp abilities are reo)gnised as expendrture as %)on as there is a legal or constructNe obligation committing the charity to that expenditure, it is probable that a Iransfer of economic benefits ill be required in settlement and the amunl of Ihe obligalion can be measured reliabty. Expenditure is accounted tor on an acCAlS basis and has been dassified under headings that aggregate all cosl related to the category. whe costs canrK)t be didIY attributed to partiojlar headings they have been allocated to actitieS on a bass consistent )hilh the use of resources. Tangible fixed assets Depciall0n is provided at the fouothing annual rates in order to *Tite off each asset over ils estimated useful lrfe. Fixtures and fillings 10% on reduang balar Stocks Stocks are valued at the lower of cost arKI nel alISable value. after making due all0nCe for obsoletè 8nd slow rrK4virKJ items. Taxation The charity is exempl frfxn tax on its chantsble activities. Fund accounting Unresiricted funds can be used aco)rdance Mlh the tharitable objecaives at the disueiion of the trustees. RestrtfAed funds can only be used for particJJlar restrirAed purposes 1th1n the objects of the charity. Restrictions arise wthen specified by the donor or en funds are raised for particular reStrted purposes. Page 11 continued...
hland Museum of Childhood A Scottish Charitable Incor rated anisation Notes to Ihe Financial Stalements - coniinued for the Year Ended 1 March 2025 ACCOUNTING POLICIES - continugd Fund accounting Further explanation of the natu and purpose of each fund is induded in the notes to the financial statements. Pension costs and other post-retlrement benefits The charity operates a defined contribution pension stheme. Contributions payable to the charity's pension scheme are charged 10 Ihe Slalement of Financial Acliwlies in Ihe period lo thich they relale. Flnancial instruments The charity has onty financ481 assels arvj financial li8bililies of a kind Ihat qualify as basic financial instruments. Basic finantial insirumenls are initially recognised at transaction value and subsequenlty measured at their settlement value wth the exception of bank loans thich are measured al amortised cosi using the effective interest rate mettM)d. OTHER TRADING ACTMTIES 31.3.25 31.3.24 Fundraising events Rent81 of units Hire of rooms Shop income 212 12,993 890 1,981 429 11,586 1,139 3,178 16,076 16,332 INVESTMENT INCOME 31.3.25 31.3.24 Bank interest 297 279 Page 12 continued...
hland Museum of Childhood A So)iiish Chari able Inco orated anisalion Notes he Financ Slalemen15 - ntInued e Year nded 31 March 2025 INCOME FROM CHARITABLE ACTIVIIIES 31.3.25 31.3,24 AclNtty Admission charges Preservation and display Events & activilies fees PreseNation and display Grants Preservalion and display 6,141 1,634 11,116 6,091 1,786 10,086 18,891 17,*3 Gr8nts reived, included in the above, are as follows.. 31.3.25 31.3.24 Foundation Scotland Highland Highlife The Royal Society 1,6 6.272 3,244 3,814 6,272 11.116 10,086 TRUSTEES, REMUNERATION AND BENEFITS There were no Irusiees, remuneration or Otr benefrts for year ended 31 March 2025 nor for the year ended 31 March 2024. Trust•es' expens8$ There were no trustees, expenses paid for Ihe year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS The average montNy number of employees during the year wa5 as follows: 31.3.25 Museum manager 31.3.24 No employees received emoluments in eXsS of £60,OCX). Page 13 continued...
hland Museum of Childhood A Scotlish Charitable Incor Ofated anisation Notes to the Financial Statements - continued the Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 1,519 1,519 Charitable activities Presetvation and display 14.149 3,814 17,963 Other trading activities Investment income 16.082 279 250 16,332 279 Total 32,029 36,093 EXPENDITURE ON Raising funds 1,324 1,324 Charitable activlties PreseNation and display 35,099 2,593 37,692 Total 36,423 2,593 39,016 NET INCOMEI(EXPENDITURE) Transfers between funds (4,3941 63 1,471 (63) (2,923) Net movement in funds (4,331) 1,408 (2,923) RECONCILIATION OF FUNDS Total funds brought foThvard 36,296 381,018 417,314 TOTAL FUNDS CARRIED FORWARD 31,965 382,426 414,391 Page 14 continued...
hland Museum of Childh d A Scottish Charitable Inco oraied anisalion Noies to the Financial Statements - for the Year Ended 31 March 2025 nlinued TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Totals COST At 1 April 2024 and 31 March 2025 380,033 36,682 416,715 DEPRECIATION At 14)ri12024 Charge for year 35,884 35,884 At 31 March 2025 35, 35.964 NET BOOK VALUE At 31 Marth 2025 380,033 718 380,751 At 31 March 2024 380,033 380,831 10. STOCKS 31.3.25 31.3.24 Stocks 1,883 11. CREDITORS: AMOUNTS FALUNG DUE MTHIN ONE YEAR 31.3.25 31.3.24 Other creditors 1,349 1,217 Page 15 continued...
hland Museum of Childho A Scollish Cliarilable nco orated tion otes lo Financial siatements - continued for the Year Elided 31 March 2025 12. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 Al 1.4.24 Unrestricted funds General fund 31.*5 (2.725) 29.240 Restricted funds Fixed Assels Corriemollie Waste Corriemoillie Workforce Developmenl Legal fees granl - cnemo1111e PB Collection Places of Science 380,831 {80) 380,751 1,509 (590) 160 396 3,244 919 160 396 3,244 382,426 3,130 385,556 TOTAL FUNDS 414.391 405 414,796 Nel movement in funds, included in trft above are as follthvs.. Incoming Resources Movement resources expended in fund5 Unrèstrfcted fund$ General fund 34,502 (37,227) (2,725) Restrict•d funds Fixed Assets Corriemoillie Workforce Development Legal fees grant - Corriemoillie P8 Collection Places of Science (80) (80) (590) (1,440) (80) {590) 160 396 3,244 476 3,244 5,320 (2,190) 3,130 TOTAL FUNDS 39.822 (39,417) 405 Page 16 continued...
hland Museum of Childhood A Scottisli Charit b e Inco or anisaiion led Notes to the Financial Slalements - conlinued for the Ye r Ended 31 March 2025 12. MOVEMENT IN FUNDS - contlnued Comparatives for movement In fundg Nel movemenl in funijs Transfers betb%een funds At 31.3.24 Al 1.4.23 Unrestricted funds General fund 36,2 (4,394) 31,965 Restricted funds Fixed Assets Corriemollie Waste Corriemoillie Workforce Development CC Coronaiion 381,018 (89) (98) 380,831 1,509 (35) 1,509 35 381,018 1,471 (63) 382,426 TOTAL FUNDS 417,314 {2,923) 414,391 Comparative net movement in funds, induded in the above are as folkyws: Incoming Resources Movement resour(*s expended in funds unstricted funds General fund 32,029 (36,423) (4,394) Re8trict•d funds Fixed Assets Corriemollie Waste Corriemoillie Workforce Development CC Coronation (89) (1,692) (89) 1,778 2,036 250 (52n (285) 1,509 (35) (2.593) 1,471 TOTAL FUNDS 36,093 (39,016) (2,923) Page 17 continued...
hland Museum of Childhood A Scottish Charitable Inco orated anisatio es to the Financial Statemenls - contin fort e Year Ended 31 Marc 2025 13. RELATED PARTY DISCLOSURES There were no lated party transactions for the year ended 31 M8rch 2025. Page 18