crity rnqlstr•lioTr numb•r SC042084 (Scollandl THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru•t• ColonelA K M IAiM8f CBE (Chaw) Mr C Donald MrsLOr Ll ColA L S 8osw•l R•glm•ntsl Chl•f Ex•cullv• Mr A Carmth•el Charlty numb•r IS¢oll•ndl SC042084 prtnclpal addr••• The Ca$J• Sti.n9 Stirh'rwJshKe Unttd Kingd(Mn FK8 1EH Ind•p•nd•nt •xmln•r N.J Morrison C.A Azels Audrt 8Arvices 5 Vthrteth"8rs Cr•scent Perth Un•d KvJdom PH2 CPA 8•nk• Th• Royal Bank of Sc•tland Unils 22r23 Thistte$ Shopping Centre Goosecroft Ro•d irh.ng stirtingshirt Uned K FK8 2EA Solkbtsv* Munay 8eith MuFr•y 1 Glenfini•s Str••t £dInrgh United 'n9orn EH3 6Aa
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST CONTENTS P•g• Tru$teo$' fep¢xt Indeperttlent exarninevs report Stalwnenl of financial adi¥rylies B•lan $he¢l St¥l•ment ol c85h Ilo Noies lo Ihe finaroal sl•l•menl$ 10-23
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Th• Tru$le•s present their •Mu81 rewl aNI finaNial $talemerfs lor the year 31 Augu512025. The finoncial slal•menls have been pr•wed in accordance th the accounting poliue$ Set out Ml nole 1 lo the fin¥nual statements and comWy with the Charws trust deed. Ihe Chafrtle$ and Tnjslet Inveslmenl (Scollandl A 2Tr)5. the Charities Account5 1Scoll•nd} R•9ulations 26 las amw¢d) and "Ac¢ountin9 and Rtportin9 by Chariti•$' Siat•m•nl ol Recommended Practice appkatAe lo charts preparing their ¥ccounls In ac£ordanc• with Ihe Finonoal Reporting Standard •ppli¢able in the UK Rèp1¢ of Irek¥nd {FRS 1021" leffeLaNe l Jarbuary 20191. Obl•ctfv•s •nd •¢llvltl•• Ch•ritabl• obl•ct The Museum exists in order lo.. pertY31¢ th• rnernory and deeds of the men ¥tho sefved In the Regiment. Adv¥n¢e Ihe educatTr of and infom serving soldrs and the pUC about th• Arniy in gen•r•l and lh• R¢glmenl in p•rtiNth. Alfn• ol charlty Tho Mus•um aimi lo. Mainlain and de¥dop its ¢olkn¢tions'. Deliver o rang• ol conuryatim progr•mme$ to that lh• cdl•dioM lie re for lo th• h4gh•81 achitivable standards. To prepare Ihe archi$ wrth t inienl io dwrfis• them. 11 lo ensur• Ihgt thoy ar• ¢u loi Iho fulure. #nd 2110 o$$1b111ty ft>r purpos•$ ol research. To record details and make digrtised Images of al itemi In IM c4lknclion to •s$i$l In the cdbpotions man89emenl. c4ntrol •nd Im&Yo¥• ¥ccss. Advanc• Horitage #nd Cullure.. By promobng the Regiment's k>cal and tIonal ¢ontribution its llOry and tradition8. By SUPFty)rtin9 rnwaich 10 the Rwm•ftt'$ history. By parti¢yp¥ting in •nd supFthiry tvenls thal promote Ihe htylory of Ihe Repimenl. Support Educ81)n By promoting WSS to Ihe Regiment•l Mus•um and11$ Cth¢lS. By eftcoufaging interest in the Rewmenfs herlage •mongSt vMn9 membets of th8 Regulaf Am7y. the Amy Res•rve and Cadel Battalions. By supporting Ihe Scoth'sh National Cufricubum schtsols wrthin lh• Regirwt81 area IArgyN & 8ute. Dunbartonshire, Stirlingshire. Clackmannanshire and the Noflhern parls of Lanarkshir¢l. By encouraging inteiesl in Ihe Regimenl's heritage amon9$t rn•mbers of the genèral publK. nol¥bly among$l communilies wilhin the Re9im•nlal area. by PfQMSK)n ol or contribulion Icrtards thè productK*n of ièratUrt and olher lofrn5 of media.
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST TRU8TEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Con•Th•tion The permanenl colle¢lth) di8play co1 and stOf•gv sp•c•s lor rese¢ cdl•(ion en$LKe ihat ow pfecious obieds arKI archiv•$ we corredy stored lo meet the rew'reil eft¥ironmenlal $tandards. Adivty to catalogue and conserve the CA)1ctIOn are the daity work of OUT ¢ur¥lor and a loam olvolunteers. Continuing •ffe<ts have beén made lo reorg•niM the archr4•1 in wepw•btsn lor thth"r dyiiiMtK)n. Th¢ mwn purp04e of th¥ dlI1$allOn programme is to ensufe thal. shoukj thertr be a ¢ala$liophic evenl resuttin9 In the h)ss ol the gr¢hwes. Ihis key resource would remoin a¥aable in dytj.sed lorm The dvdstisafi ¥wll also •ts¢e us lo impiove Jcc•ss, rry ovt reseai¢h ¥nd en•• greatef incomè genwalkM researth th•n 81 presenl. Ihtjrk h•s been ongoing lo calalogue elemenls ol lh• colection wth records ol lh8 colkntKJn and picture co1Cl10n newing completed. Supportino R•glm•ntsl A¢tlvltl•• The Mtsseum prowdes the hub lor r•gimenlal •¢lrtie8 thtch r•ngt Irom r•c•plioni. lun¢hes 4nd the Teglmenlal bon lo a vaiiety of other •vents that keep the spirii of The Argyl$ ah"ve. A swnffi¢•nt Succ$ has ien Ihe developm•nl in tandem with Hisloric Enwronrneni S¢oOaTrJ of so¥•1 Su51(1 wnmunrty •ngagemenl erS wrfhin bolh the Museum and Slith'ng Ca$ll•. Educallon museurn h•$ tt¥o part-bme educat sLgff. who •ro d•dK•t•d lo provrfion of •dUcat woik6Mpi in the museum and Ihrough rtre•ch actNrtws. In 2024 • fvndr•iwg c&wign I(e In T•iSNW C£20K lo support Ihgse 8clwilies. In 2024.25 lh• museum •ng•gèd wilh 881 mary ar#J sclwl thrfdr•n wi org•n16•d edurall)r1 acti11•9 and workshops. Around 14,000 more parti¢lted in inlornwl •Ming aaiTrthS Ihal took plac£ ilhin ihe Museum. The Mumum has enga9ed wrth over 5,OW 0[Ae through communty engage1r1 actiwl¢es rt ha$ org8nis•d wrthin Ihe Ca8tl• and Stirfin9. O•v•loplng Unl• The efforts lo ftinwgorate relalionship$ wilh * numbw ol tyganisabons such 8$ Slirting Coun¢il. and local ¢uMural and histori¢al or9anisalion$ hav• nImUed. Our loutth in Iho C•nlr¥l Bett fflak•s us acc•ssit4e lo rn4ny trade. tourism and education41 Organisat$. IAkn afe a member of th8 Forth Valley Chamber ol Commerce. have links acros$ our hi51orvl regimental i•¢ruiling aT•a {Artyl & Bute. Dunbarionshir•. Sb"rfingBhY•. cfa&mann•nshK• ond norlhern L¥nafkshirl which w• art sieadity developing wrfhtn our limit84 Tesour¢•$. Support from Mu••wM Gallwl•• Scond The Argyll and Sulherfand HIgN8nd8rs Regimnlal Musoum is acuedrfed to Ihe Mu6ewns GleneS ScoU8nd IMGSI. MGS'$ strategy 2023 - 2030 Wothrce. R•siliènc •rMI CrxMMclion require$ us lo pay Ihe Real LiviNd ge Increasing Iht salary bills substantialty above inflalion. HVer. the TtyeeS consthr th8 NefitS of MGS o¢credllaln are beneficial providing us wrth acGe$5 to gwts for the Mus•um'8 dmlopment 8nd pwd•s the Museum with formal reCognitn #y housing ¢olle¢iions ol nalionol 5ffjn¢fican¢e. U*• of Volunt•ern The Museum makes exlen5ive use of volunteers in an its actiw1$ and are true force mtslbpheis in t•rm$ of the Mus6um'$ ability to develop. The 33 Volunle•rs proth 2.862 hoyrs of support lo the Museum during the year. A rewsÈd reuuilrnenl poli¢y has b&en adopled to ensu¥e Ihat Volwileers are c4refuNy sel•¢ted. have approprle skill$ei$. and are then surfably employed AW ¥ohJnt•èrs undergo an Induct)n course.
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Mw•urn P•rfomwn¢• In Fy20225 vffjrfors in(¥e•sed lo • Tectyd of over 323.821 (FY2022-23 - 274,0901. #n 18% introase. This is extremoty encouraging and reflects the advanlages ol beKw based Wrt'n the PTemleT vijitor attra¢A ol Stifling Castle. The Museum allracted 53'h ol wsilorB to Ihe cast throughoul Ihe year. P•rtn•rnhlp wlth Hhtorf¢ Envlronm•nt S6otl•nd Th¢ $u¢G¢ss of our pres•nc• In Stsrhn9 Castbe is $ubsianl• enh¥K•d by Ouf partnership arrangements wrth Hislonc Environmenl Scotland IHESI. Is ongory lo Co11 Ihe h¥0 Lmderpinni docuffl•nts Ihe P¥rtn¢hip A9reemgnl whth deals with the opeiational and financial asF•d$ ol our wesence in The kn'ng's Old Building. and a to Occupy vthich deals wth Ihe Conditn$ Ttkaiing lo oui tenure. The revison and deveiopmenl of those ao¢um¥nts ha$ led io protra¢ted nfrgotiations wlh HES and a$ al 31 Au9USt 202S they had yel to be conduded. As a r•sult. the Partnernhip A9r•èmenl btheen Ihe Museum •nd HES. agreed 2018, has continued lo prowde the bosis of Ihe relat)nShiP beiw•en the parbeS. Entry lo the Museum is fr•. the Twsl r•ceives no dir•¢l irKome from Ihe Stirting Castle visitors, •n1r#n fee {h 1$ impractical for the MUm io ch•rgt • Strate efilrarK• f••l. UrKler the current lem$ of the exl•nl Partnorship Agf•emenl. HES makes an annual paymenl. meets the utlty ¢osls (electrty and gas) bn •ll lh• mus•um sp•$, promdes some staffing lor the visilof-tsring opeTali¢)n, Jnd op•rBtes the Museum Shop (from which Iht Museum reuiv•s no income Nhough we •re ieekwy roythits lor HES'S use ofour intelboctual propety). In r•lum, the Mujeum prowdes HES wrth •ccess to the Museurn and rts cdl•dwi8 as a k•y eknnl of the Stirtin9 C8$11• visltoi and HES is abbe to expknt the spx•s for •w4nts. Fk)w•wr. the conlinury lack ol krtch•n and failur• by HES lo market the faulrtie5 has prevent•d any subslantial addrtbonal inc4me 9eneralion FY2024-25. Th• Mueum. withn Ihe Iiwilalion5 of the ¢¢Mnmer)o1 arrangomenls of Ihe P¥rtnership Agreèmènt. has managed to (Ure simne limrted income trorn its spwsored •¥ents and fundT8isirig. FINn¢l•l Fln•n¢ 0¢6pilt the unqu•$tioned sucw$ of the Mus•um and the subst4ntKql inc¥e•se in vtyrtor numbers, th• Museum has l¥ced in¢wa$ing fin•n¢t81 chalnge$ in FY 202425. subst111 inllalbn•ry tncre•s•s In th8 Mu#eum's ovethead5 have r•$utt•d. nolably the fOqUlf¢m¢nl lo pay the Fleal Liling W•ge lo urtain siaff rnernb8fs. AS a resull. tho Tru$l•e$ wer• fof¢¢d to take the deu'sion to nwise • fr••z• for other members of staff. HES'S annual ¢onlnbution remaw¢ing at £1tKIK per annum August 2022 hgs led to the depletn ol the Musè.$ reMr¥ts. This is not h•lped by certain constrainl5 Wrthin the Partnernhy A9reement tthith iestnct Ihe Museum's •bilrty to oer¢rat• addrtional lunds. these issues are being ¥igorou$ty pursued in Ihe renegotialion ol the agreemenl. The Mu$&um ¢oth'nu•s lo genefale a Substant ekment ol rts requtr•d )come. Both the Regimental Trust and the Regimèntal A$soaalion mak8 annual contributions lowards Ihe operaling costs and the Minislry ol Deknce continue lo fund one member ol slaff. The Guardians Ilhe Museum's In•nds or9anisationl conlrib¢Jle 8nd during Ihe course ol the year we received some income from donations from wpporters as wel as museum visitors (average 013p per he¥dl. encouiage Guardians and others lo le•ve k9arJes in theif w415. Funds for parlicular projec15 leg Ar¢hivè Digilisalion and the Education Programmel are supported by donations and fun&Ta151ng efforts. Ihese are Ial•d as re$lrictod funds to ensure Iliey are crJmmrNed 10 the purposes Thè Museum TrLStees have direcled thal £10.0 per annum wdl be set aside Irom incOff to prowde a fefurbishment fvnd to enable an adequate sum lo be avalable fw fulure relufts"shment of the museum displays ond the moinl•nanc• ol authrwsual equipment. Th¢ Museum's income totalled £281.941 12024. £222,704) lor Ihè year. Expèndrture totalle¢Y £277,SC* 12024. £234,558> provKling a surplus for the year of £6.886 12024 £10.827 deficit) after gains on inveslrnenls 01 £2.451 12024 £1,027).
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 R•wv• Polky Th• Museum TTU$t•8s have dlrecled th91 onE quarter ol ow anwal oper•lry C18 (cE70.(KIOI i• lo bg held as an unrestricted r8ser¥e Its meet OSCR expecialions. In FY 202425 we have managed to Sustain 8atisf8clwy fundin9 levels although this is beconwng inueasith f•kny'ng. Trustees remain ¢)sely engaged with HES to achieve $ali$laclory rowSn ol Ihe Partnership Agreernent lo ndude è revised lunding mechanism thal recogni6•S the contnbulion Ihal is made by the Museum to Ih? StirtirrfJ Castl• $rtOr eXpene and 11 rpsul in a substantialty improved and more suslainablè funding posrfion. Al lime of wrrting the Trusl•es •re now confident that the Museum's funding poSAn will be stabs'liua. Increased oppor1 for Ihird p•ty in¢me g•tatK)n ran be devekjped and Ihe Reserves Policy can b• maintained. Golou ¢onc•rn After making &ppropriat• enquwies. Ihe Trustees have a r•ast)nth expeclalion th¥1 Ihe charity h85 adequate resour$ 10 conl+nue in operatnal exist8nu lor the lorewabl• future. indudès assurance from The Afgyll and Sulhertand HwJhland•rs Regtrnen Tru$t that ih•y wib"nuÈ to und•Nrtiit Museum rf nècesury. For this r8a$tsn. Ihey centirwe lo adopt goln9 concm b1$ in preparing the L>al $tatem•nts. Furthgr del8ili Ihe adoption olthe c4nc•m basis be I0)d in ihe accoting Inv••tm•nt poll¢y tlIr$ the y•ar. irN•slmwl IrC wai £22412024.. Ènl. Rl•k m•n•g•m•nt Th• Museum Trust hos • risk management proce Klentffjes and dreSSeS the m•iof fin•n¢il. op•ralbon•l, govemance, reputolional gnd r•gukilory rioks tlith might nde th¢ Mugeum's abrfty lo 8chve Its ObjectiS. These are recorded in Ihe Museum's risk regisler. which ij updat•d p•nodi¢èlly by th8 Muwum Chiel Ex¢ulive and r•viewed quort•rly by tho Museimn Tru¥t8es. Sy$t•ms and proc•durn8 b••n •$t¥btshed lo mrtyl• enlifd risks. Structyrn. gov•rn•nc• Ind m•n•g•m•nt The Argyll ar¥J Sulhertand Highl•nder8 Mus•um TfUSI is controlled by it¥ go¥eming 0Ment. • Doed ol Declgration ol Trust dat•d 2(rth January 2011. ¢) conslrtul•$ •n 1n¢01at•d tharlty registernd in scOtnd No SC042084. Th• MyUrn is working under Ihe 9ov•man¢e and complwn¢ wrfh Mus•um G•Aen'•$ Scotland IMGSI and Its Strategy 2023- 2030. The Trustees vtho s•Ned duiing th• ye•r and LP to dale of oignature ofth• ¢181 stateThnts were.. Colonel A K M Milèr CBE {Ch•irl Mr C Donald Mfs L On51ow Ll Col H l M Clark MBE Lt Col A L S Boswèll (Rèsffjned 31 M¥rch 2025) The presonl Tfuslees are thther lomw Offictts of Regiff*nt or are drawn from bu$bie$s ond the cutture sect who have volunteered Iheir seNces. On appointmfjnt Trustèes are prowded wilh a comprthensive dUcIl0n pamphkil 'Guidan¢t to TTvst•&s' to ensure that all Trustees are awar• of Iheir re$ponsibilrti•s and are conversant wrth Ihe purposès of the Trust. They arè encouraged to undertake Iraining. There is a rec4wnm¢nded leThJth ol swvice of 5 years as a Truste& artgh they may be Inviled to exlend.
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 OryanlstloMI Stru¢ The Tru$lt•s are Te$p$Ie for $lr•twc direct to CEO. This di1) is contain in Iht lollowtn9 documents whth we reNryewed and appro¥ed by Ihe Tnntees.. A and SH Musevm Strategy. 2022-2027 A and SH FOard Plan A ond SH In-year Bu$in•s$ Pl•n Poliw do¢uments rd8lin9 10 Cc41¢tS, Conserv8th)n. ArLe$s and Comm(mIc•n5 Tho Trustees rneel lonnally al leasl 1r£ per year and on other occasn5 when adwce and direclion Is required The Trustees are responsie lor en5unng thw'r derists)$ ¥¥ caird out. Rocoros 01 ll meelii9$ are mainlalnfrd. Formal agendas are prepared and w#nutes wvrtlen for Mumum Trust mgetings. The Tw$lees •pprov• the budgel. The daily operabon ol the Museum i8 delegated to the CEO, Mr Alan ca•e1. and ihrough him lo other m•mb•rs of Ihe Museum's slaff and volunteers. In addrtn to O¥•fse•ing operath)n5, he 18 r8spon51ble lor am finanual aspecls ol the operation and ovwsvJht of the acc4)unls. He 1$ required to update th8 Twsleos in a formal qLlOrterty roport. One Trustee seNes as a Th.ClOr ol Tr Argyll and SulhwlaNI HigNand•rs Lin•d, • ¢offyny Imlted by guaranlee. whi¢h 1$ cuffenlfy dormwl Affillil•d R•glm•ntsl Ch•rfll•¥ The Aryyl •TrJ suth•rt•r H•3hl¥ndors' R•9wMnlal Trusl The Argyl and Sulherland Hwhlandgri, Reoinntsl A•wci•lh Thè Trus e¢6, r•port was approNd by the Bo¥d of Truth•s. Colonel A K M Miller CBE (Chair) Ch•lr. Board of TN*t• 6 May 2026
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST I reporl on Ihe financi•l itatemenl$ of the Cha(ity for the yew •nded 31 Auw$l 2025. are t out t)n page$ 71023. RMp•cOY• rKpon•lbllltl•• of Tru•t••• 4nd •xaminer The Chanty's frustees are responsible lor the Pr¢TatIon of lh• fin¢1 slalemenls in actordance wrth the lerrn5 01 the Chanties and Trustee Inveslmenis ISuJtlandl Ad 2005 8nd the charl1$ A¢¢ounls (slIand) Regulation$ 2(P&3. The chanty'$ Trusl••s ¢onsvJer that the audrt requifement ol Regvkqlth 101111al to (cl of the 2006 Aecounls Re9ul¥tions does nol appty li 1$ my responslbilrty lo examine ihe ffinanoal slalements as requiied undef Mction 441111¢) of the A( lo $lal• whether portKular matters ha me to my attenlion. 8111 of Ind•p•nd•nt •xamln•rf• •t•t•m•nt My •x•rnin8lKJn 1$ ¢anitd oul in accordance wrth Regulalion 11 01 th• Charrt$ A¢¢ounls (Scotlandl Re9Ltlalion$ 2CK)6. An exami110n indud•s 8 re¢W of the acv)unb"ng record$ kept by the th•rty and a ¢cthp•rison ol Ihtr fmanc4al slatemenls pr•sent•d wrth those reeoffjs. li so indudes cOnSthratn ol any unusual itns or disdo8ure8 in thè financ1 stalem•n15. 8r)d s••king explat)n$ from l IruJi•ts c0Ming •ny #uch motters. The pro¢•duT¢5 und•rtak•n do not prOe all Ihe ewdence that wouKI bo rèquired in an audrt, and ConseqnIty I do nol oxpress an audil op5nK)n on Ibtr ¥i•w gIn by the lThno¥l s10n1&. Ind•p•nd•nt •xmln•rfi •t4t•m•nt Your attention is dfawn to the fact thal Ihe h•s prepared fin•nca•l statements in •c¢ortl8nce wlh Accounting and reporting by Chanties préparing thesr accthjnis in •ccord¥nce with the Finanri•l Reprrt'ng Standard applicable in th• LIK and Reput4ic of Ireland IFRS 1021 in pr•lerence lo Ihe Acc4)unt9 and R•ptsrti by Chan1$. Statern•nt ol Rtcomrnended Pr•¢t issued on l Apnl 2CK15 whth is referred lo in the txlanl rogulabon$ but ha4 now been wrthdIm. l understand that Ihis h¥$ been dw in ordw lor the financial slat•monl$ lo prwde a Irue ar tsir view in aOrdanCe with G•nefalty Accepl•d ACCn11ng Pra¢tic• efteLaive kx reportffig pl)d8 boginning on or •flof 1 J•nuary 2015. In conn•ction with my exam1natn. no oth•r m•tter ex¢epi that rehff¢d lo in the pr•wous paragfaph has me lo my att•nlion.' lth) whKh m• re•sonable to believe that In •ny material r•sp•¢l lh• rtquirernonts.. lo keop a¢¢ounting records tn •c¢ord8nce wth sethon 44111 (al of the 20)5 Ad and R•gul•liDn 4 Lrf the 20C6 A¢¢ount5 Regulatio". and (MI lo prepar• financial $laiernents whth •¢Mrd wilh I •ctounling reccffd$ and coffWy with R•9ul•litsn B ol the 2()6 Ac¢ounts Regulation$". have nol been met or Ibl to whKh, in my ownm. attentn slthild bè dra¥¥n in ofdeT lo enth a pyoper understsn4Jing of t fjnancial slaleTr•nl$ lo be reathed. N.J. Mwrison C.A A28t$ Audit Servtcos S Mitelriar8 Cres¢enl Perth PH2 OPA Unit8a Kingdorn
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unl••tl•d RMtrlct•d funds nd• 2025 2026 Totsl UnrMtrl¢led R•¥trict•d lun0• funds 2024 2024 Toll 2026 2024 Mt>ts Donations and legacLe5 Olher Irading oclivrti•s InstmentS Oiher income $2,737 1.626 224 123.266 104.088 156.825 1.626 224 123,286 47.973 518 70.564 118.$37 518 103.649 103.649 Tolal Incorn• 177,853 104.088 281.941 152.140 70,564 222.704 charilab aclivrt5 178.880 98.628 277,X 161,673 72.8B5 234.SS8 Nél gain{101#$j on InVemen11 11 2.451 2,451 1,027 1,027 N•1 mo¥•m•nl In lund• 5,462 12,321) (10.8271 Fund baknus •t 1 Seplemb•r 2024 {38.0711 1.092.291 1,058.220 27.5651 1.094.612 1,067,047 Fund b•lancM 1131 AUgt 2025 134,8471 1.097.753 1.063,106 {36,071) 1.092.291 1.056.220 The Stslement of finon¢l•l 4¢llvlil8s Inf8 g•in• and los r•coyMed th• ye•f. Al Ir¢4)m• •xp•ndtture d•riw from c4nlintsing ac1lwts.
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST BALANCE SHEET ASAT31 AUGUST2025 2025 2024 Flx•d ss•ts Tangib as58ts Herrtag• as$els Inv•$tmenls 13 14 IS 10.538 943,085 11.027 943.085 23.478 972.043 Curr•nt $••¢• Sto¢ks Deblars Cash at b¥nk and in hond 964.650 16 17 3,562 6.689 89.347 15,314 102.613 120.889 99.598 Cr•dltorn.' •mounts f•lllng ¢lu• wlthlft on• y•r 18 (29.8281 18,028) Il•t ¢uff•rt •¥••ts 91,063 91.570 T•tal ••••ts IM• ¢uTh•nt Il•bllttl 1,rA3.106 1.056.220 Th• lund• ol th• Ch•rfty R•stricted income lund$ Lknr•JiTicl•d fund$ 1.097.753 134.6471 1,092,291 136.0711 22 I.(3.108 1.056,220 The an¢io1 •latffli•nl8 were apprmd by lh• Twsle•$ on 6 May 2026 Colonel A K M Milor C8E ICh•l Ch•lr. Board ol Trus1•
THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Cash fiowl from op•rallng •¢thilll Cash generated from Opera13 25 24.229 8.134 Inv•itirtg •¢tivtii Purchase of tangible fixed as3011 Purchase of investmenls Inveslrneni Income r¢cèived 11.1871 110.0001 224 11.4261 110,¢)001 N•t ¢••h us•d ln Inv•¥tlno •¢lJ¥ltl 110.9631 111.4261 N•1 c••h g•n•r•l•d from Ilrt•n¢lng •thltl•• N•t In¢r••lld•¢v••8•1 In G•ih •nd ¢a•h •qulval•nts 13.266 13,2921 Ca8h and ¢•$h equiv•l•nl$ •1 tginnw ol y•r 89.347 92.639 C••h •nd ¢*•h •gul¥•l•nts •t •nd ol y••r 102.613 89.347
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 Ac¢ountlng poIIci Ch•rity InfornlI0Th Thè ArgyN and Slrthertand Hhla[S Museum Trust is a ch•rty le9tsled m S¢otl•nd. It OP8ratos undtr the l•rnis of a Trusl D••d d8led 20 January 2011 Ind c4Jnstiiule$ an unincorFrfXated •ntty. 1.1 A¢¢ouTrllng ¢onv•ntlon Th• financAal stal¢m¢nls ha¥e been prep8rèd in accordance wrth the Charty'$ yovemirvJ document, th Ch¥rilies and Tru$lee Inve5tm•nt (Scollandl Act 2OJ5. the Chant$ Accounls (Scotlandl Regulations 2006. FRS 102 "The Financial Reportin9 Slendard applicable in the UK and Republic of Ireland" and Ihe Charitses SORP "A¢¢ounling and Reportin9 by Charilies" Stalèmenl of Recommended Prèctice applicable to charilias prepanno their accounts In aCrdance with thè F4n•nual Reporting Slandard applicable in the UK an Republic of Ireland IFRS 1021" {•ff•dNe 1 January 20191. The Chonty 1$ a Public Ben•frt Entily as d•fin¢d by FRS 102. financi $lat•mènts •r• wepw•d in $i•th'ng. is lh• fvncl•Jnal curr•ncy of the Ch•rtty. Monetsry •nounts in finnual slal•m•nls •r• rounded lo M•reM É. Thg fin•n¢k91 slal•monls haw4 been prepaied und81 the Imstical $1 connI, MOdrfd lo includ• the re¥81uallon ol freehold Prort$ and to NlMent prop•rts arrtl wtain financK•l inslrunenl$ ¥t l•1¥ value The principal •¢¢ounting Oici•$ a¢Jopted ¥e out bekm. 1.2 Golng ¢onc•rn Al the lime ol approvin9 th• fina1 stht•mgnls, Tru$t•e# ha • rsonabl oxp•¢t•tson that Ihe Ch•rty h88 adequate r•source$ lo conlinue in Operat1Th exIsten for the foreseeable futur•. Thus lh8 Tle08 cMlinu• lo adopt the going concern baws ol a¢un m wepan.ng the finanrA&I stsl•m•nt8. 1.) Chrltsbl• lunds Unrestrict•d fvnd$ Irt avad8ble lor us• ai the dw•lion of Truste$ in fvrllw4n(e ol their tharrt•bl• DeSnt•d funds coMpn. fid3 haN• b••n s•t •skJ• al Ihe disry•lw of lh• Tru0•9 lor pu1•8. Tho purposes •nd usos of the d•81gnat•d lunds are sel wl in the not•s lo Iht fin8n¢i•l $l•l•rn8nls. R•$lricted fvnds 8r• wbj.ecl lo s[1¢ by donors or gr¥ntOfS as io Ih•y may b• us•d. The purp06•s and uses of the restiicled lund$ •r• s•1 oul kn the nts$ to finanrial sl•t•m•nls. IA Incom• Income 15 r•cognlsed wthen the Charity Is legally entrfled to 1 after any perfoman¢t condrfKin$ 8ve been mel. Ihe amount$ Can be measuied reliabty, •rYl rt is wob3• that irKome be re¢eived. C¥$h donatnS are r•cogntsed on receipt. olr knolKJns are Tecogntsed once the Chaiity has bèen notified of the donalion. unless performance conditsons requi delerral ol the amounl. Income tax rècover8bk in rela1n to donats.ons ItNed und•r GrflA tx deeds ol covenant 1$ re¢ogntsed at the time of Ihe donation. Legaaes are recognised on ieceipl or otheise rf Ihe Charrty hès been notif*d of an impending distnbulion. lh• amount is known. and receipt is expeclÈd. 11 Ihe amourbt is not known. the legacy treal•d as cOntint ÈÉt. Ing)me from governmenl ond other graits is recowised the ¢harity has enbuemenl to the lund8. any perforrnance conditions attached to the 9ranl$ have been met, rf ts probable that the irb¢ome will be received and Ihe amount can be measured relrably arthj * noi delerred. Intefest on funds held on deposil is incjuded when ree•Nable #nd arnounl can be [rsUred reliably by ttr charity," ihi$ 1$ normalty upon notifi¢alion ol Ihe inler•$t paid ty pay•ble by the bank. 10-
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ounllng pollcl•• IContlnu•dl 1.6 Exp•ndltuw• Expenditure is recogni onc¢ Ih8r• ra •189al OT (Strt¢ to make p8ym•nt lo a third paty, il 13 probat4e Ihèi settlement bt required and Ihe of ihe J•110n Gan be me•$ur•d rdiabty. All expenditure ac¢ounted fr)r on an accruals basis and is dassified by aclwity. The 51S ol each activity are made up ol the t81 ol dir•u costs and shared costs. support costs invdved in Uderta'ng each acliwty. Direct Costs ¥ttruIab to a smgle actiwty are allocaled dir•ctty to that actmty. Shared costs which ContrUte to rnore Ih¥n one and support COs1s whth #re not attribulatit lo • sin9b8 4cliwly ar8 8pporiioned bethen those adNilies on a basis consislenl with the use ol f•sources. The charity is iewstered for VAT. 4ppli¢able, c4)sts and expeIrtUrfr KKurr•d are Indu61v of VAT. 1.6 T•ngll)h fix•d ¥i•ts Tangibkn fixéd assels init• mtaswtd •1 C1 and subsequenty m&•swed •t cost or nel ol depre¢ialion and any lmpa1nrI¢ k>is8•. Dw•fJalion 18 r•cognised as lo wrf• off cosl or VIbo ol ¥et8 kss thèw r•8Mlual v•lueG over Ihelr uvful h¥es on the Ic410ww bstt'. Fixtvres and fittings Comput•rn 25% on r¢duw9 b•l•nce 33% on cosl The gain or lo$$ arising on the disposal of an asset N delermintsd as the dfflerence bets¥•en the sale proceeds and lh8 carryrw ol Ihtr assel. and is r•cow8•d m Iht ithl•menl ol financwl •¢ti¥ilies 1.7 Flx•d •i••t Inv•$lrnnl• Fixed assel inveslmenls aTe m611th me•suW •t Iransacli •x¢w¥ IranM¢'on ¢o$l$, and •r• subsgquenity m8asured at lair valut •1 ¢•¢h i•porting dale Changes in fa lue are Tecognised Trn n•1 incom•llexpendrtur•l for the y•af. Trnwa co$t$ •r8 expensed •# IrKurred. 1.1 Imylrm•nt of fix•d i•••l Al oath reporting end dale, th¢ Chafity r•views the cafwng •moynts ol rfs tangible •sset$ lo d•l•miine whether Ihefe is any Indicalft Ihot Ihose assets have suffered on imp8%m)enl loss. If any suth indtalion exists. Ihe recoverable amount of Ihe ossei 1$ •slimat•d in wder to del•miine the exlenl ol Ihe imp•1mnI loss lil anyl. 1.9 Sto¢k• Stock$ 8re $t8l•d at th8 kyweT of CO e$lm7aled 5elhng wice less costs lo corn01e and sell. Co$1 ¢ompris8s difecl malefials and, where opplvblè. direct labour cos15 afKI those overhe&ds thai have been nrIed in bnnging the 3l¢xk5 to theii Pfesenl locats'on and condition. Nems held for distribution al no or n¢yninaJ rn81dera.on Ife measuod al the ol replacment cost •rMI ¢o$l. Net realisable value is the eslmated selling prKe le$s an estthat8d cosls of ¢ompbtion and costs lo be irthrred in m•rketbng, sguing and ¢thstributAx. 1.10 C¥sh and •qvil•ntr Cash and cash equwalents Include cash in hand. deposrts held al ¢all with banks. other short-tèrm liquid inve8tment5 wilh orhginal malurities ol thi•• months or less. and bank obtrdrafts. Bank o¥trdraft$ are shown within borrowings in cuThenl1obths. 11
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ounting polichs {Contlnu•dl 1.11 Fln•nci•l in•trum•nts The Chamy has eCl to appty the provlsions of S•dkni 11 'BasK Fina9 Instruments. •nd Section 12 'Olh•r Finanaal In$lruments IssLtes' ol FRS 102 10 ol rt$ frnioal insiruments. Financial instruments are recognised Ihe Charity's bala sheel when Ihe Charity beMe8 party to the conlraclual provisions of ihe inrumtnt Financial assets and Iiabilrties ore offset. wrth ihe nèl amounls presented in Ihe finanri81 stalemenls, when there is • legally enforceable ri9ht to sel off the recognised amounts arbd there is an Inlenlion lo settle on a n81 basis or lo realise the •s$•l and setlle Ih• h•bility simullanoousty B•$lr Ilnan¢W Bask finanrA assets, which indude debtors and $h and b•nk balan¢e$. are Initiafiy masured at Iran$a¢tion pnc• induding transactn L>)sls and •re sUbSeqnI c•med at •mtsrli$ed cost using Ihe eff•ctiv• leresl melhod unless the •rTang•m•nl ¢onstrfuto$ • finonryng Iransaction. wheie the Irènsaction Is mèasured al th8 pl•Al Va of th¢ luture TIpts ¢"$(%d li i mark•t rale ol inlor•$l. Finn¢a•l •ss•ls doS31fied as re1¥3bte within one year aTe nol amLNl1s. kg•slc fln•KhlllbHhl•• 8•8ic financi h0"[rties. incbjding ¢redrtors •nd bank loo a inrttamy r•o)gni5ed al tr•n$a¢tKn pri¢0 unkns5 the affan9em•nl constilutes • finanong Ir•nsadKn. Wre the debl inslrumenl is mfa$uied al th• prn$•nl v¥lue ol Ihe fvlure p8ymenls di8¢ountd at a market rale ol intewt. Financial liabl1t$ rjassffied a$ payablo thin ona y•ar r• not arnor18. D•bt inslnJments are b$89 •1 •mthJ•d co, u¥ing th• •ffectrn inlr•st r•tè m•lhod. Trade ¢redrtorn are oblffj4tKns io pay for or serwc•s th81 have been acqulr•d in the Ordin cou188 01 operalions from suppliers Amounts payabkn are dèssffied as ¢uNeni Ii¥bdrtie$ rf payment is du¥ within on¢ year or ss. 11 nol. Ih•y are Pfesented as non¥currenl "8.1$. Tr•de creditors •re recogni$ed inrtially •1 IfansaclK P •nd subwuenlty me•$ur¢d •¢ arno8•d ¢1 usw Ihe ell¢¢lrye Int•re8t nthod. D•rn¢ognlllon ollln•n¢l•lllabllltl•s Financial Iiabihlies aro der•cognised whon th• Ch•rrfy's conlractu•l obb9IDn$ exwre or are diKharged oi Conle. 1.12 Tax•Uon The Trtssl 1$ exempt from cOrporath tax on rfs tharrtable aC1MS. 1.13 Employ•• b•n•flts The cost of ony unused holiday eniillemenl is recounised in the period in •mploye•'8 $er¥ices arè ceived. TerMation benefi16 are cogne0 immedialety a$ an expense when the Chanty is d8mon$trabty c4mmittod to terminate Ihe employment ol an ernOyee or lo proide ieimination benefft5. 1.14 R•15rnmvnt b•n•llts Payments to defined ¢ontribulx)n retir•nnl befft sthem•$ are tharged as an expense as thèy lall due. 12-
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Incom• from donation• and l•g•Gi VnMtrSct•d R•*trkt•d funds fvn 2025 2025 Tot•1 Unrnstrlctsd R••tricts&d fund• lun 2024 2024 Totsl 2025 2024 Donations and 9th$ Grants 52.737 47.367 56.721 1fy),104 $5,721 47,973 6.000 53,973 64,564 52.737 104.088 156.825 47.973 70.564 118,537 Grnnts Army Mulen Erskin• Olher 25.808 1.585 29.328 25.8( 1.585 29.328
3,184 36,184 28,380 28,380 56.721 56,721 64,564 64.$64 Incom• Irom oth•r lrndlng •¢tlv Unf•8trt¢t•d Unrn•trlct•d fund• lund• 2026 2024 Oth•1 KKoffl• 518 Incom• from In¥Mbn•nl• Unr•*trfct•d Unr•strl¢t•d fundi lund8 2025 2024 Income from listed investm•nls 224 13-
THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Oth•r In¢tyn• Unrn¥trlct•d Unf••trict•d fund• fundi 2026 2024 Inl•resl and 9rft #id Hisloric EnwroM)enl S¢oUand- partnership agreemenl Talks income 20,686 100,C¥)O 9,187 91.666 2.796 123,286 103,649 ¢IllIbl• •¢tlvftl•• PAu••um R•d•¥•lown•nt Tot1 2•26 •um R•d•v•lopThnl T)t•l 2024 2025 2026 2024 2024 Staff eosls Exhibilion th o ¢onlr•¢l ConseN81 cos1$ Proiecl manag•m•nl 081s 161,Cfj1 161,C61 137.(X)8 137,CQ8 4.465 640 8,521 8,521 4.423 4.423 6.262 170.589 170.589 159.457 159,457 Share of $upporf Costs (see note 7) 104.029 104.029 70.461 70,461 Share ol govemarKg ¢ost$ {8ee note 71 2.888 2.888 2.320 2,320 4,840 277,506 277,506 232.238 2,320 234,558 An•lysl• by lund Unrestrict•d lunds Reslricled funds 178,880 98,626 178.880 98.626 161.673 70.S6S 161.673 72,885 2,320 277.51 277. 232,238 2.320 234.558 14-
THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Support #o¢•l•d to •elvltl•g 2025 2024 Slall cost$ 30,727 6,245 4,401 420 1.184 20.017 9,573 3.746 27.736 2,888 29,479 7,820 5.559 392 1,375 16.250 4.134 2.325 1,127 4.640 Insurance Telephone Piinting a $l¥iionery SundrKés Compuler expenses Rèp•ir$ and mainl•nan Legal and professional lees G0m8ce 81$ 106.917 75,101 An•ty••d b•tw••Tr: UnrèstrKted fund R•sln'¢t•d fund 105.473 72,781 2,320 106,917 75,101 Il•t mov•m•nt In fvndj 2026 2024 TM n•t movemenl in funds 1$ $thl•d after (knfgintyl¢rethbrwJl". F••s payabkn lor the Ind•p•nd•nt •xamin•lin ol ¢h's fin•ncMI Ilalemenls t)•pr•rAation ol rwned t•NJibl• fix•d ass•ts 2.320 7,820 6.245 Tru•l••• None ol the Tnjslees (of any persons cA>nnedèd with th•ml recAiibd any lemur8110n or benefils Irom the Charity during the year. 10 Employ• The average monthly number ol employees during ye•r w¥s." 2026 Numb•r 2024 Numb•r 15-
THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 fo Employ• Icontlnuodl Employrnnt eo•l¥ 2025 2024 Wag•s and Socia seojrty $$19 Olhei nsIon cost$ 180.489 9.265 2.034 154,062 10.481 191,788 166,487 The Tfu$t ¢onsidws its key m#n¥pment persLxind to rnPr ol the Tiusle•$ and Chiel Ex•artivè OffK•r. The omploymenl berfil$ of t key mana9em•nl per1 *re E47.42512024- £52,092). There wer• no ¢mpbyeè$ wh05• annu•l f•munor8lion was nwe Ih•n £60,OW). 11 G•lns and lou•• oth InvlmDI• UnrnJlrl¢tsd Llnr••trkt•d lund• tundi 2025 Gain(1086•$I an$ing on.. Revaluation of inve$lm•nl• 2.451 1.027 12 T•Mtlon The Charity is oxenyl from laxalson on rts •cIMt$ because all its incwne 1$ •Ppld lor ¢h•rtable purpos•$. 16-
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 13 T•nglbl• fix•d a•s•ts TotAI Iltllng¥ Colt At 1 September 2024 Addrtions 13.308 491 29.416 42.724 1.787 AI 31 AugUSt 2025 13.799 30,112 43,911 D•pr•clatSon and Smp•lnMnl Al 1 Seplembei 2024 Dwtciatson Cr9ed in the year 10,7 751 21,390 5,494 32,186 6.245 At 31 Auguil 2025 11.547 26.884 38.431 Carrylng mouDt AI 31 ALrgusl 2025 2.252 3,228 5.480 At 31 Augu8t 2024 2,512 8.026 10,538 14 H•rftag• a••ts At I S•W•mb•r 21124 •nd at 31 Aug•J•t 2025 943.08S H•rit•ge •uets •re and pw'nfiigs. T? •r• ol hisltyi¢•l sffjrMfKanc• are on di6•Y In th• Museum. These were donated lo the Museum Trusi by lh¢ Argyll and Sulherland Highlandèr$ Regimenlal Trusl on 31 August 2011. Th• ass•ls are includ•d al lh• 2(M)9 insuraru valuation adjust lor puichase and sale èl cosl. 17-
THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 16 Flxed •s••t Invttlrnents Ust•d InvMtm•nts Co•t or v•lu•tlon Ai 1 Sepl•mber 2024 AddlIS Valualion changes 11.027 10.000 2.451 AI 31 Augu$1 2025 23,478 Carrylng amount Al 31 A81 2025 23,478 Al 31 August 2024 11.027 11 Sto¢k• 2025 2024 Fmished goods and goods for resale 2.962 3.562 17 D•btorn 2026 2024 Amounts l•lllng du• wlthln on• y•r. Olh•r debtor$ Prepayments arKI •¢uued NKom• 10,864 4,450 3.867 2,822 1S.314 6.689 18 Cr•dltorn: •mounts l•lllng du• wllhln on• year 2025 2024 Oth8r u•drtor5 Accrua15 and ¢Jèfrred income 18.888 10,938 8.028 29.826 8.028 18-
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 19 R•Ur•m•nt b•n•fft sch•m 2025 2024 Defin•d tontrlbullon s¢h•m•s Charge to profrt or105s in resped of defin•il ¢onlribu1 SCIleS 2.034 1,944 The Charity operat•$ a defe¢j contribution p•nsK)n scheme lor all qualfying ernpltsy••s. Th• assets of Ihe scheme are s•paral*ly from Ihose ol Ihe Chaniy In an Independenlty administered lund.
THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 20 R•sltht•d funds The reslri¢ted funds of the charity Wn1$ Ihe unexpended b8nCeS of dM•lions and grants held on tru51 subjecl to $peofic condrtions by donor5 as to how they may be use(l. lkn•m•nt In fund¥ Movement In lunds In¢omlnq R•soure 8alanc• at I S•ptWnI rMourt•• •wnd•d I S•pthb•r IJ 1024 B•l•r•c• it 2015 Conal Rowan Reserye Cathwine 6.415 23,764 6.415 23.764 6.415 23,764 345 345 34S HerNage 86set$ Guardians Moior General Grahaffl R•d•v•topme nt fund Small proi•¢ls fund 943.085 5.092 943.085 S.092 943.085 5.092 1.195 1,195 2.819 2.819 2,819 111.897 70.584 172,885} 109.576 104.088 {98.6261 115,038 1.094.612 70,564 172.8851 1.092,291 104.088 198.6261 1,097.753 Puw•• ol fund• Bolh the Conal Rtr•n and Calh•M• funds h¥e be set a$Kltr lor paintin9$. Reserye fund is lor gr•nt5 lof >p•uk purpows oudinod A) fv (xmditi"on of the grant. Herilage a8s•l$ ore sknerware and paintrys Ihbt were donated lo the Mus•LTh Tru$1 by t Awyll and Sulher18nd HI9N8nder5 Regimental Tru$l. Any woceeds of sa*$ bp usod lor a$sets. Guardian¥ - Pwpeiuation of the Memory ol Ihe Deeds arwj Mon of tho Afgyll •nd Suthertand HhlanderS lor al tima. MaioT GeneTal Gvaham . to comm•morale the service of Major General Graham In the Regiment as ol Ihe future Museum development. The redek1pmeI fund Is loi the tr•n$lowm¥tKJn and fedevèlokNntrnl ol Ihe Museum. Small proie¢tS . Ihis fund mdudès ¥anou$ Smal Pfopd 9ranl$ THhich are $pent in line wilh Ihe condrtions of Ihe giant. 20-
THE ARGYLLAND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 11 Analy•ls of n•t s••ts b•twn (un Unr•strkt•d R•stritt•d fvndy nds 2026 2025 Totsl 2026 At 31 August 2025: Tangible assets Herrt8ge g$s81s Investments CuTTenl •58•t$llaOlI$) 5,480 5.480 943.065 23.478 91,083 943,085 23,478 183,6051 154,666 {34.6471 1,097.753 I,C63,1C6 Unr•strlcL•d lun0• 2024 R••trkt•d lund• 2•24 Tot•1 2024 At 31 AUgt 2024: Tanglbbe a$$el$ Herrtage assets Inveslmènls Current asBetsllliabthl8) 1.993 8,545 943,085 10,538 943,085 11.027 91.570 11,027 149.0911 140.861 136,0711 1,092.291 1,056,220 22 Unmtrl¢t•d fvnd• The unr¢$lrid¢d funds 01 thè ch•rty compris• lh• unexpended balances of donations and grants whith ar• not SLJ'e¢l lo sp•ur c4JnditMs by Ik>nors ond grnnloi$ 88 lo how Ihey may be used. The$• indud• dttsiw8led funds whKh ve be•n sel 88ide out ol unrestrmxed funds by th• Irust••s for 6p•cffi¢ PUfPQWS. At1 In¢omlng S•ptemb•r r••ouru• 2024 R••ourc •xp•nd•d Transf•rn G•ln• and At 31 Augllst 2025 R¢furbi$hment nd General lunds 10.000 146,0711 224 177.629 11.027 111.027) 2.4S1 23.702 158.3491 1178.8801 {36,0771 177.853 1178.8801 2.451 134.6471 21
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 22 Unrn¥tri¢t•d fvnds IConllnu•d) Pr•vlou y••r. In¢omin9 r•Sou•S Tr•nsl•rn S•pt•mb•r 2023 Galns •nd At 31 August 2024 •xp•nd•d ReluTbishrnenl nd General funds 10.000 110.Ci)D} 10,000 146.0711 127.5651 152.140 1161.673) 1.027 127.5651 IS2.140 {161.6731 1.027 {36,0711 PUTr• ol lund Refurbishm•nl fund . for th• luturn relurbthm•nt of th• m{u displ•ys #Thj lh• m•lntenan¢e of •udio vlsual •quyn•rrt. 23 R•l•t•d p•rty tr•n••¢tlon• Trnn#•ctlon• wlth r•l•l•d parth• The lolsowing organi$alKns are related porls". . The Argyll oTr1 Sutherfand Hlghlanders Shop LThited Th•Argyll ond Suih•rfard Highl•nders R•gimentsl Trust RalOd p•rty Iron8¥Clioni ar• as fthlcwA'. During lh• year, the Tnmt f•ui¥d no tloMtM12024. £NiTr> from Th• Argyll and Sulh•rtand HNhknd•rs Shop Limrted. DurirvJ th• year to 31 Au9u$I 2025, the Twst fewd grants domltons 01 £22.954 12024. £13.COOI from Th• AWI •nd Sulherl8nd HwJhlanders Regimthal Tftl. This gr8nl lunding was provthd for $810ri8$. IT supporl and legal expense$. Al the year end. thefe w•s a loan tc The Argyk and Sthherfand HighlJnd&r8 R•giment¥l Tluii of £18,88812024. £ndl. 24 Volunt••r• For the year ended 31 Auw$l 2025. Vol1 lim totalled 2.862 hours {2024'. 3.3391. Thi$ was Invaluable in anowing the ch8rity lo reach rfs obj'tdives.
THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 25 Cah g•n•rnt•d Irom op•rntion• 2026 2024 Surpbjslldeficitl lor Ihe year 6.886 110.827 Adlu•tm•nts lor: Investmenl income ¥¢¢ognised In slalement ol fmanrial a¢livrts FaK value gains and kn$$es on inveslmenls Depreciation and impairmenl of t•ngible fixed •$$ets 12241 12.4511 6.245 17,0271 7.820 Mov•m•nts In wo19 c•pStal: Decrease In stocks (Inu&aselldecrtase In Oeblo In¢r8ase in u•drtor• 83 7,057 5,028 18,8251 21,798 C••h 9•n•rntsd from op•rntbons 24,229 8,134 28 An•ty•th of ¢h•ng•B In n•1 fund• The Charity h•d no m•teTk•l debt durry lh• yvr.