CHARTfY REGISTRATION NUMBER: SC036554 Music In Lanark Unaudited Financial Statements For the year ended 30 June 2026 I.A.STEWART & CO Chartered accountants The Mechanics Workshop New Lanark ML119DB
Music In Lanark Financial Ststements Year endèd 30 June 2026 Page TTUStees' annual rgport Indep&ndent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Music In Lanark Trustees. Annual Report Year ended 30 June 2026 The Iruslees present their report and the unauditad ffinancial stslemenls of the ¢harty for the year ended 30 June 2026. Rafvranc& and admlnlstratlva dolalls Registered charity name Music In Lanark Charlty reglstration number SC036554 Prlnclpal offl¢g l O West Avenue Carfuke ML8 SAE The trustoes Ms C Pritchard Ms F Smith Mr A Robertson Dr J Copland Mr R Lockhart Dr A Matthews Ms L McLeish Mr R Essex Ms R Nite Ms J Essex Ms C Bennett (Rellred 20 September 20251 (Appointed 20 September 20251 (Appointed 20 Septeber 20251 (Appointed 20 September 20251 Company $¢¢retsry Ms Flona Smith Independent examiner Fraser Brown Member of the Inslilule of Chartered Accountsnts of Scotland l A Stewart & Co The Mechanics Workshop New Lanark ML119DB Structure. govemance and management The charity is governed by th8 declaration of Irusl. The management of the charity is the responsibility of the trusl09s who meet regularly. Th8 charity is a registered Scollish charity. number SC036554. Oblectlves and activitles To advance th8 education of the public by promollng and encouraging the practice and knowledge of the musical arts in Lanark and surrounding district, and other educational, artistic and cultural purposes connected therewith. and lo promote any other purpose chartsble law.
Music In Lanark Trustees, Annual Report (Gonllnu) Year ended 30 June 2026 A¢hlavements and perfornian¢o The charity successfully organised seven concerts durfng tho year, continuing ils aim of promoting and providing access to hlgh quality live music. Muslc In Lanark is grateful for the continued flnanclal 8LlPPOrt of its sponsors and patrons. wh059 o)nlr(butions h8lp make these ovents possible. Following another successful year, the charty remains Committed to providing musitrAI opportunlties for both performers and audlences and to suppotlng the cultural lifa of the local community. Th& trustees would also like to express their thanks to Christ Church for providing an excellent venue for the charitys concert programm8 during the year. The forthcoming concert season will see all perfomiances return to the charity's previous venue in New Lanark. Flnanclal ravl•w The charity repDrted a net deficit 01 £4,283 for the year, resulting in accumulated funds of £8,165 al the balance sheel date. The deficit arose primarily from a reduction in grant funding received during the y8ar together with lower donations from patrons. The trustees rocogniso Ihe importance of maintaining and increasing patron support and will continue to focus on securing financial sustainability while prowding musical opportunities for both perfomiors and audiances. Al the Annual General IAeeting held on 20 September 2025, tho trustees agreed to reduce tket prices with the aim of attracting larger audier)ces to concerts. However. audifynce attendance romained broadly consistent with prèvious seasons and the redUd lickel prices did nol generate the anlicipaled increase in demand. Consequenlly, ticket prices will be restored to their previous ve1$ for the forthcoming season. Thg trustees remain satisfied that the Charty retains adequate reserves lo support its ongoing activities and future concert programme. The trustees, annual report was approvod on 13 August 2028 and slgned on bghalf of the board of trustgfjs by.. Ms R Nite Trustee
Music In Lanark Independent Examiner's Report to the Trustees of Music In Lanark Year ended 30 June 2026 I report to thg Iruslees on my examination of the financHI statements of Music In Lanark Ilhe charity'l for the year anded 30 June 2026. Responsibilities and basis of report As the Iruslees of the charity you aw responslblo for the preparatlon of the financial slalemenls In accordance with the Tequiremenls of the Charities and Truste8 Investment (Scotlandl Act 2005 Ith8 '2005 Act'l and the Charities Accounts (Scollandl Regulations 2006 las amended). You are satisfied that your charity is not required by charity law lo be audited and have chosen instead to have an independent examination. I report in rospect of my examinatlon of the charity's financial slalemenls as carried out under section 44111{¢l ol the 2005 Act. In Carrying out my examinallon I have follow8d the requlroments of Regulation 11 of the Charities Accounts (Scollandl Regulations 2006 {as amendedl. Indepèndènt examlner's statement Since the charity has prepBred its Bccounts on an aCcalS basis your examiner musl be a member of a body listed In Regulation 11121 of the Charities Accounts {Scotlandl Regulations 2006 {as amended). I can cA)nfirm that l am qualified to undertake the examination becaus8 l am a reglst8r8d membgr of ICAS which is ong of thg listed tx)dies. I have completed my examination. I confimi that no matter8 have come to my attention giving me cause lo believe that in any material respgcl: 8¢counting records were nol kept as required by section 44111{a) of th& 2005 Act and Regulation 4 of the Charities Accounts (Scollandl Regulalk)ns 2006 las amended)., or the financial statements do not accord wlh Ihosg records., or the financial statements do not compty with the accounting requirements of Regulalv)n 8 of thg Charities CoUnts (Scollandl R8gulalions 2006 las amgnd8dl. I have no concems and havg come across no other matters in connection with the examination lo which attention should be drawn in Ihis report in order to enable a prop6r understanding of the accounts to bo reached. Fraser Brown Member of the Inslllule of Chartered Accountsnts of Scollan l A Stewart & Co S Augus12026 Independent Examiner The Mechanics Workshop New Lanark ML11 9DB
Music In Lanark statement of Financial Activities Year endod 30 June 2026 2026 Unreslricled funds Total funds 2025 Total funds Note Income and endowments Donations and18gacies Investment income 4,360 28 4.360 28 12,482 61 Total Income 4,388 4.388 12.543 Expendlture Expend5ture on charitable aclivilies Total expentlllure 8,651 8,651 8.651 1 Q.454 8.651 10,454 Net (expendlture}Ilncomo and net movement In funds (4,2631 {4.2631 2,089 Roconclllatlon of funds Total funds broLsght foTward Total funds carrled for+vard 12,428 8,165 12.428 10,339 8,165 12,428 The statement of finandal activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pagès 6 to 10 form part of these flnanclal 8tat•m?nts.
Muslc In Lanark statement of Financial Position 30 June 2026 2026 2025 Note Current a$$et$ Cash al bank and in hand 8.433 12,428 Credltors: amount$ f8lllng due wlthln one year Net current a$set$ 10 8.165 12,428 Total assets less currgnt Ilabllltles 8.165 12,428 Net assets 8,165 12,428 Funds of the charlty Unrestricted funds 8,165 12,428 Total charlty funds 11 8,165 12,428 Thgse financlal slalemenls were approved by the board of trustees and aulhorised for issue on 13 August 2026, and are signed on behalf of the board by.. MsRNite Trustee The notos on pagas 6 to 10 fomi part of these flnanclal statements.
Music In Lanark Notes to the Financial Statements Year ended 30 June 2026 General infomiatlon The charity is a public ben8fil enllty and a registered charity in Scotland and is unincorporated. The addrass of the prinopal office is 10 West Avenue, Carluke, Lanarkshire. ML8 5AE, Scouand. statement of compllartce These financial statements have been prepar&d In compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Iroland,, the SlaleTnenl of Recommended Pracllce applicable lo charltles preparing Ihelr accounts in accordance with the Flnancial Reporting Standard applicable in tho UK and Rapublic of Ireland IFRS 1021 Icharilies SORP IFRS 10211 and the Charities and Trustee Investmonl (Scollandl Act 2005 and the Charity Accounts (Scollandl Regulations 2006 las amended). Accountlng poll¢les Basis of preparation The financlal statements have been prepared on the historical cost basis. as rnodkfied by th& revaluation of certain financial assets and liabilities and investment properties measured at fair value throu9h income or exp6ndilure. The financlal ststgments are prepared in sterling, whlch is thè functionBI CuencY of the enuty. Golng conGern There are no material uncertainties about the charity's ability lo continue. Judgemènts and key sources of estlmatlon un¢ortalnty Tho preparation of the finanaal statements requires managtrmenl to make judgements, ests'males and assumptions that affed the amounts Teported. These estimates and judgements are continually reviewed and are based on experienoe and other factors. including expeciation8 of fvIU events that are believed lo be reasonable under the circumstsnces. Fund accountlng Unrestricted funds are available for use al the discretion of the trustees lo further any of the charitvs purposes. Designated funds are unrestricted fvnds earmarked by the trustees for partlcular future project or commitment. ReslriGtsd fLtnds are 8u*ecled to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall Into one of two sub-classes= reslrfjcled Income funds or endowm8nl funds.
Music In Lanark Notes to the Financial Statements f¢onthu Year ended 30 June 2026 Accounting policies (condnu8dJ Incomlng resourcos Al incoming resources are included In the statement of financlal activitigs when 8111itlemenl has passed to the charity., il is probable that the econoTlliC bènefits assoclaled wrth the transaction will flow to the chartty and the amount can be rgllably measured. The following specific policies arg applied lo particular categories of income.. income from donallons or grants is recognised when there is evidence of entitlement lo the gift, receipt is probable and Ils amount can be measurad rella1y. Iggacy income is recognised when receipt is probable and enlitlgment is established. income from donated goods Is measured at the fair value of the goods unless thi8 IS impractical lo me8sure reliably. in which case the value Is derived from tho cost to Ihe donor or the estimated rèsale value. Donal8d facilities and sarvices are recognised In the accounts when received if the valua can be rollably measured. No amounts are included for the contribution of gengral volunteers. income from contracts for the Supp of seNlces Ss recognised with the delivery of the contracted servi. This is classified as unreslricled funds unless there is a contractual requirem8nt for il to be spent on a particular wrpose and retumed If unspent, In which oase it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a Ilabllity is incued. ExpenditUTe includes any VAT which ¢annol be fully recovered, and Is classified under headlngs of Ihe ststement of nanclal actlvttle8 lo whlch It relat&s'. xpendilure on raising funds includes the costs of all fundraising activities, events, nonncharitable trading activities, and the sale of donated goods. expenditure on charitable actlvltigs includes all costs Incurred by a charity In undertaklng activitiès that further Ils chadlable alms for tho benefit of ils beneficiaries. including Ih05e support costs and costs relating lo the govemance of the charity apportiongd to charitable activities. other expenditure includes all expenditure that is neither related to raislng funds for the charlty nor part of expenditure on charltabl& activities. AII costs s allocated lo expendilure categories reflecting the use of the resource. Dlrect costs attributable lo a single activity are allocated dlrectly to that activity. Shared costs are apportioned beeen the activities they contribute to on a r6880nabl6, luslifHble and consistent basis. Flnancial instruments A financlal asset or a financlal IlabllSly Is recognised only whgn lh8 charity b8com8s a party lo the contractual provisions of th8 instrument. Baslc financial instruments ar8 inttlally recognised 81 the amount rgcgivablg or payable includlng any relaled transaction costs. Current assets and current liabllilles are subsequently measured al the cash or other consideration expected to be paid or received and not dlscounled.
Music In Lanark Notes to the Financial Stalements (contlnug¢lJ Year ended 30 June 2026 Accounting policies (Contlnued) Flnancial instruments (contlTrugdJ Debt instruments are subsequently measured al amortlsed co8t. Where investments in shares are publicly traded or their tsir value can otherwise be measured reliably, the investment is subsequently measured 8t fair value wllh changes in fair value recognlsed in income and expenditure. All other such investments are subs8quenlly measured al cosI1888 Smpalmienl. Other financial instruments, including deTivative5, are initially recognised al fair value, unless paym&nl for an asset is deferred beyond normal business 18rms or financed at a rate of intero81 that is not a mark81 rate, In which casè tha asset is measured at the present value of the future payments discountèd at a markat ra16 of Interest for a Simllar debt Inslrumenl. Other financlal instruments are subsequently measurd at fair value. wth any changes recognised in the statement of financial aclivit568, Wlth th& exception of hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised oost are reviewed for objective evidence of impairment al the end of each reporting dale. If there is objective evidence of impairment. an impairment loss is recognised under the appropriate heading in the slalemgnl of financial aclivities in which the initial gain was recognised. For all equity instruments regardless of Sign1Can¢e, and other financial assets tral are individually significant. these are assessed individually for impairment. Oth8r financial assets are 8ilher assessed individually or groupfyd on the basis of similar credit risk characteristics. Any Teversals of impairment are recognlsed Immedlately, lo the exlenl that th8 reversal does not result in a carrying amount of the financial asset that exceeds what the carrying awnounl would hav8 been had the impairment not previously been recognised. Donatlons andlogacles Unrestricted Fund8 Restricted Totsl Funds Funds 2026 Donallons Grants Patrons Ctsnrt Tickets Programmes Bar Donations 750 2.825 123 855 750 2.825 123 655 4,360 4,360
Music In Lanark Notes to the Financial Statements (conllnued) Year ended 30 June 2026 Donations and lagaci8S {COJry*lnue Unr9s1ricled Funds Reslridgd Total Funds Funds 2025 Donations Grants Patron8 Concert Tickets Programm95 Bar Donations 4,100 2,850 4,315 212 696 300 4,400 2,850 4,315 212 696 12,182 300 12,482 Investment Income Unrestricted Total Funds Unreslrlded Total Funds Funds 2026 Funds 2025 Bank interest received 28 28 61 61 Expgndlturo on charitable activitias by fund type Unrestiicted Funds Restricted Total Funds Funds 2026 Concerts 8,651 8,651 Unreslrfcted Funds Restricted Total Funds Funds 2025 Concerts 10,154 300 10,454 Expgnditura on charitable activities by activity type Activities undertaken T¢tal fund$ directly 2026 Total fund 2025 Concerts 8,851 8,651 10,454 Staff costs The average head count of employees during the year was Nil (2025.. Nil}- No employee Tecelved employee benefits of more than £60.000 during the year {2025'. NIII. Trustee remuneration and expensès The trustees received no ramuneraOn In the year.
Music In Lanark Notes lo the Financial Statements (contlnu Year ended 30 June 2026 10. Creditors.. amount$ talllng duo wlthin ona yaar 2026 2025 Accruals and deferred inwme 268 11. Analysls of charitable funds Unrestrlcted funds At Income Expenditure 30 Jun 2026 Al 1 Jul 2025 General funds 12,428 4,388 18.6511 8,165 At Income Expondilure 30 Jun 2025 Al 1 Jul 2024 General funds 10,339 12,243 110,1541 12,428 12. Anatysls of net aB¥8ts betwèèn funds Unrestrlcted Total Funds Funds 2026 Current assets 8,165 8,165 Unrestricted Total Funds Funds 2025 Current assets 12.428 12.428 10