c￿rity 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$J•
Sti￿.n9
Stirh'rwJshKe
Unttd Kingd(Mn
FK8 1EH
Ind•p•nd•nt •x*mln•r
N.J Morrison C.A
Azels Audrt 8Arvices
5 Vthrteth"8rs Cr•scent
Perth
Un*•d K*vJdom
PH2 CPA
8•nk•
Th• Royal Bank of Sc•tland
Unils 22r23 Thistte$ Shopping Centre
Goosecroft Ro•d
irh.ng
stirtingshirt
Un*ed K
FK8 2EA
Solkbtsv*
Munay 8eith MuFr•y
1 Glenfini•s Str••t
£dIn￿rgh
United ￿'n9￿orn
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 2￿6 las amw￿¢d) and "Ac¢ountin9 and Rtportin9 by
Chariti•$' Siat•m•nl ol Recommended Practice appkatAe lo chart*s preparing their ¥ccounls In ac£ordanc• with
Ihe Finonoal Reporting Standard •ppli¢able in the UK Rèp￿1¢ of Irek¥nd {FRS 1021" leffeLaNe l Jarbuary
20191.
Obl•ctfv•s •nd •¢llvltl••
Ch•ritabl• obl•ct
The Museum exists in order lo..
per￿tY31¢ th• rnernory and deeds of the men ¥tho sefved In the Regiment.
Adv¥n¢e Ihe educat￿Tr of and infom serving sold*rs and the pU￿*C about th• Arniy in gen•r•l and lh•
R¢glmenl in p•rtiNth.
Alfn• ol charlty
Tho Mus•um aimi lo.
Mainlain and de¥dop its ¢olkn¢tions'.
Deliver o rang• ol conuryatim progr•mme$ 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¥• ¥cc*ss.
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¢l￿S.
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 Icrt*ards thè productK*n of
i￿èratUrt 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 co￿1 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 $tandards. Adivty to catalogue and
conserve the CA)1￿ctIOn are the daity work of OUT ¢ur¥lor and a loam olvolunteers.
Continuing •ffe<ts have beén made lo reorg•niM the archr4•1 in wepw•btsn lor thth"r dyiiiMtK)n. Th¢ mwn purp04e
of th¥ d￿lI1$allOn programme is to ensufe thal. shoukj thertr be a ¢ala$liophic evenl resuttin9 In the h)ss ol the
gr¢hwes. Ihis key resource would remoin a¥a￿able in dytj.sed lorm The dvdstisa￿fi ¥wll also •￿ts¢e us lo impiove
Jcc•ss, ￿rry ovt reseai¢h ¥nd en•￿• greatef incomè genwalkM researth th•n 81 presenl.
Ihtjrk h•s been ongoing lo calalogue elemenls ol lh• colection wth records ol lh8 colkntKJn and
picture co1￿Cl10n newing completed.
Supportino R•glm•ntsl A¢tlvltl••
The Mtsseum prowdes the hub lor r•gimenlal •¢lrtie8 *thtch r•ngt Irom r•c•plioni. lun¢hes 4nd the Teglmenlal bon
lo a vaiiety of other •vents that keep the spirii of The Argyl$ ah"ve. A swnffi¢•nt Succ￿$ has i*en Ihe developm•nl
in tandem with Hisloric Enwronrneni S¢oOaTrJ of so¥￿•1 Su￿51(￿1 wnmunrty •ngagemenl ￿er￿S 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)r￿1 acti￿11•9 and
workshops. Around 14,000 more parti¢l￿ted in inlornwl ￿•Ming aaiTrth*S Ihal took plac£ *ilhin ihe Museum. The
Mumum has enga9ed wrth over 5,OW ￿0[Ae through communty engage1r￿1 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¥nafkshir*l which w• art sieadity developing wrfhtn our limit84 Tesour¢•$.
Support from Mu••wM Gallwl•• Sco￿nd
The Argyll and Sulherfand HIgN8nd8rs Regimnlal Musoum is acuedrfed to Ihe Mu6ewns G￿leneS ScoU8nd
IMGSI. MGS'$ strategy 2023 - 2030 Wothrce. R•siliènc* •rMI CrxMMclion require$ us lo pay Ihe Real LiviNd
ge Increasing Iht salary bills substantialty above inflalion. H￿￿Ver. the Tty￿eeS consthr th8 ￿NefitS of MGS
o¢credllal￿n are beneficial providing us wrth acGe$5 to gwts for the Mus•um'8 dmlopment 8nd pwd•s the
Museum with formal reCognit￿n #y housing ¢olle¢iions ol nalionol 5ffjn¢fican¢e.
U*• of Volunt•ern
The Museum makes exlen5ive use of volunteers in an its actiw1￿$ 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 appropr￿le
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 Fy202￿25 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 $ubsianl• enh¥K•d by Ouf partnership arrangements wrth
Hislonc Environmenl Scotland IHESI. Is ongory lo Co￿*11 Ihe h¥0 Lmderpinni￿ docuffl•nts Ihe
P¥rtn¢￿hip A9reemgnl whth deals with the opeiational and financial asF•d$ ol our wesence in The kn'ng's Old
Building. and a to Occupy vthich deals wth Ihe Condit￿n$ 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 M￿￿Um io ch•rgt • St￿rate efilrarK• f••l. UrKler the current lem$ of the exl•nl Partnorship
Agf•emenl. HES makes an annual paymenl. meets the utlty ¢osls (electr￿ty 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$11• visltoi and HES is abbe to expknt the spx•s for •w4nts. Fk)w•wr. the conlinury lack ol
krtch•n and failur• by HES lo market the faulrtie5 has prevent•d any subslantial addrtbonal inc4me 9eneralion
FY2024-25. Th• Mu*eum. withn Ihe Iiwilalion5 of the ¢¢Mnmer)o1 arrangomenls of Ihe P¥rtnership Agreèmènt. has
managed to ￿(Ure simne limrted income trorn its spwsored •¥ents and fundT8isirig.
FINn¢l•l
Fln•n¢
0¢6pilt the unqu•$tioned sucw$ of the Mus•um and the subst4ntKql inc¥e•se in vtyrtor numbers, th• Museum has
l¥ced in¢wa$ing fin•n¢t81 chal*nge$ in FY 202425. subst￿11￿1 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 deplet￿n ol the Musè￿￿.$ reMr¥ts.
This is not h•lped by certain constrainl5 Wrthin the Partnernhy A9reement t*thith 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$soaalion mak8 annual contributions lowards Ihe operaling costs and the Minislry ol Deknce
continue lo fund one member ol slaff. The Guardians Ilhe Museum's In•nds or9anisationl conlrib¢Jle 8nd during Ihe
course ol the year we received some income from donations from wpporters as wel as museum visitors (average
013p per he¥dl. encouiage Guardians and others lo le•ve k9arJes in theif w415. Funds for parlicular projec15
leg Ar¢hivè Digilisalion and the Education Programmel are supported by donations and fun&Ta151ng efforts. Ihese
are I￿al•d as re$lrictod funds to ensure Iliey are crJmmrNed 10 the￿ purposes
Thè Museum TrL*Stees 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 authr*wsual 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 C￿18 (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 rowS￿n 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• ￿$rtOr eXpene￿ and ￿11 rpsul in a substantialty
improved and more suslainablè funding posrfion.
Al lime of wrrting the Trusl•es •re now confident that the
Museum's funding poSA￿n will be stabs'liua. Increased oppor￿￿1￿ for Ihird p•ty in¢*me g•￿tatK)n ran be
devekjped and Ihe Reserves Policy can b• maintained.
Golou ¢onc•rn
After making &ppropriat• enquwies. Ihe Trustees have a r•ast)nth expeclalion th¥1 Ihe charity h85 adequate
resour￿$ 10 conl+nue in operat￿nal 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 conc*m b￿1$ in preparing the ￿*￿L>al $tatem•nts. Furthgr del8ili
Ihe adoption olthe c4nc•m basis be I0￿)d in ihe acco￿ting
Inv••tm•nt poll¢y
t￿lIr$ the y•ar. irN•slmwl Ir*C￿ 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¢i*l. op•ralbon•l,
govemance, reputolional gnd r•gukilory rioks t*lith might ￿n￿de th¢ Mugeum's abrfty lo 8ch*ve Its Objecti￿S.
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• ￿enlif￿d
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 ￿0￿Ment. • Doed ol
Declgration ol Trust dat•d 2(rth January 2011. ￿¢) conslrtul•$ •n ￿1n¢01￿at•d tharlty registernd in scOt￿nd No
SC042084.
Th• My￿Urn 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 stateTh*nts 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& art￿gh they
may be Inviled to exlend.

THE ARGYLL AND SUTHERLAND HIGHLANDERS MUSEUM TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Oryanls*tloMI Stru¢￿￿
The Tru$lt•s are Te$p￿$￿Ie for $lr•twc direct￿ to CEO. This di￿1￿) is contain￿ in Iht
lollowtn9 documents whth we reNryewed and appro¥ed by Ihe Tnntees..
A and SH Musevm Strategy. 2022-2027
A and SH FO￿ard Plan
A ond SH In-year Bu$in•s$ Pl•n
Poliw do¢uments rd8lin9 10 Cc41*¢t￿S, Conserv8th)n. ArLe$s and Comm(mIc•￿n5
Tho Trustees rneel lonnally al leasl ￿1r£ per year and on other occas￿n5 when adwce and direclion Is required
The Trustees are responsi￿e lor en5unng thw'r derists)$ ¥¥ cair*d out. Rocoros 01 *ll meelii9$ are mainlalnfrd.
Formal agendas are prepared and w#nutes wvrtlen for Mumum Trust mgetings. The Tw$lees •pprov• the budgel.
The daily operabon ol the Museum i8 delegated to the CEO, Mr Alan ca￿￿￿•e1. and ihrough him lo other
m•mb•rs of Ihe Museum's slaff and volunteers. In addrt￿n to O¥•fse•ing operath)n5, he 18 r8spon51ble lor am
finanual aspecls ol the operation and ovwsvJht of the acc4)unls. He 1$ 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, Reoin*ntsl A•wci•lh
Thè Trus
e¢6, r•port was approN*d 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 (s￿lIand)
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 $lal• whether portKular matters ha￿ ￿me to my attenlion.
8*111 of Ind•p•nd•nt •xamln•rf• •t•t•m•nt
My •x•rnin8lKJn 1$ ¢anitd oul in accordance wrth Regulalion 11 01 th• Charrt*$ A¢¢ounls (Scotlandl Re9Ltlalion$
2CK)6. An exami￿110n 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 cOnSthrat￿n ol any unusual it*ns or
disdo8ure8 in thè financ￿1 stalem•n15. 8r)d s••king expl￿at￿)n$ from l** IruJi•ts c0￿Ming •ny #uch motters.
The pro¢•duT¢5 und•rtak•n do not prO￿￿e all Ihe ewdence that wouKI bo rèquired in an audrt, and Conseq￿nIty I
do nol oxpress an audil op5nK)n on Ibtr ¥i•w gI￿n by the lThno¥l s￿1￿￿0n1&.
Ind•p•nd•nt •x*mln•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)unt￿9 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 wrthdI￿m.
l understand that Ihis h¥$ been dw in ordw lor the financial slat•monl$ lo prwde a Irue ar￿ tsir view in
a￿OrdanCe with G•nefalty Accepl•d ACC￿n11ng Pra¢tic• efteLaive kx reportffig pl￿￿)d8 boginning on or •flof 1
J•nuary 2015.
In conn•ction with my exam1nat￿n. 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$".
have nol been met or
Ibl to whKh, in my ownm. attent￿n slthild bè dra¥¥n in ofdeT lo enth a pyoper understsn4Jing of t
fjnancial slaleTr•nl$ 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••t￿l•d RMtrlct•d
funds
nd•
2025
2026
Totsl UnrMtrl¢led R•¥trict•d
lun0•
funds
2024
2024
Tol*l
2026
2024
Mt>ts*
Donations and legacLe5
Olher Irading oclivrti•s
In￿stmentS
Oiher income
$2,737
1.626
224
123.266
104.088
156.825
1.626
224
123,286
47.973
518
70.564
118.$37
518
103.649
103.649
Tolal Incorn•
177,853
104.088
281.941
152.140
70,564
222.704
charilab￿ aclivrt￿5
178.880
98.628
277,X
161,673
72.8B5
234.SS8
Nél gain￿{101#￿$j on
InVe￿men11
11
2.451
2,451
1,027
1,027
N•1 mo¥•m•nl In lund•
5,462
12,321)
(10.8271
Fund bak*nus •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 AUg￿t
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 Inf*￿8 ￿ g•in• and los￿ r•coyMed ￿ th• ye•f. Al Ir¢4)m• •xp•ndtture
d•riw from c4nlintsing ac1lwt￿s.

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 Opera1￿￿3
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 t*ginnw 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 Inforn￿lI0Th
Thè ArgyN and Slrthertand H￿hla￿￿[S Museum Trust is a ch•rty le9ts￿led 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 aC￿rdance 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 fin*nual slal•m•nls •r• rounded lo M•reM É.
Thg fin•n¢k91 slal•monls haw4 been prepaied und81 the Imst￿ical ￿$1 con￿nI￿, MOdrf￿d lo includ• the
re¥81uallon ol freehold Pro￿rt￿$ and to ￿N￿lMent prop•rt*s 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• fina￿1￿ stht•mgnls, Tru$t•e# ha￿ • r￿sonabl￿ oxp•¢t•tson that Ihe Ch•rty
h88 adequate r•source$ lo conlinue in Operat￿1Th￿ exIsten￿ for the foreseeable futur•. Thus lh8 T￿le08
cMlinu• lo adopt the going concern baws ol a¢￿un￿￿ m wepan.ng the finanrA&I stsl•m•nt8.
1.) Ch*rltsbl• lunds
Unrestrict•d fvnd$ Irt avad8ble lor us• ai the dw•lion of Truste*$ in fvrllw4n(e ol their tharrt•bl•
DeS￿￿n*t•d funds coMpn.￿ fi￿d3 haN• b••n s•t •skJ• al Ihe disry•lw of lh• Tru￿0•9 lor
pu￿1•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¥$h donat￿nS are r•cogntsed on receipt. ol￿r *knolKJns are Tecogntsed once the Chaiity has bèen notified
of the donalion. unless performance conditsons requi￿ delerral ol the amounl. Income tax rècover8bk in
rela1￿n to donats.ons It￿Ned und•r GrflA￿ tx deeds ol covenant 1$ re¢ogntsed at the time of Ihe donation.
Legaaes are recognised on ieceipl or othe￿ise 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
cOntin￿t ￿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 [r￿sUred 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 (￿Str￿t￿¢ 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 t￿81 ol dir•u costs and shared costs. support costs invdved in U￿derta￿'ng each
acliwty. Direct Costs ¥ttr*uIab￿ to a smgle actiwty are allocaled dir•ctty to that actmty. Shared costs which
Contr￿Ute 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 expe￿IrtUrfr KKurr•d are Indu61v* of VAT.
1.6 T•ngll)h fix•d ¥i*•ts
Tangibkn fixéd assels init• mtaswtd •1 C￿1 and subsequenty m&•swed •t cost or nel ol
depre¢ialion and any lmpa1nr￿I¢ k>is8•.
Dw•fJalion 18 r•cognised ￿ as lo wrf• off cosl or VI￿*bo￿ ol ¥￿et8 kss thèw r•8Mlual v•lueG over Ihelr
uvful h¥es on the Ic410ww￿ b*stt'.
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$, and •r•
subsgquenity m8asured at lair valut •1 ¢•¢h i•porting dale Changes in fa* ￿lue are Tecognised Trn n•1
incom•llexpendrtur•l for the y•af. Tr*nwa￿ co$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 Indical￿ft 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•1m￿nI
loss lil anyl.
1.9 Sto¢k•
Stock$ 8re $t8l•d at th8 kyweT of CO￿ e$lm7aled 5elhng wice less costs lo corn￿01e and sell. Co$1
¢ompris8s difecl malefials and, where opplvblè. direct labour cos15 afKI those overhe&ds thai have been
￿n￿rIed in bnnging the 3l¢xk5 to theii Pfesenl locats'on and condition. Nems held for distribution al no or
n¢yninaJ r￿n81dera￿.on Ife measuod al the ol replac*ment cost •rMI ¢o$l.
Net realisable value is the eslmated selling prKe le$s an estthat8d cosls of ¢ompbtion and costs lo be
irthrred in m•rketbng, sguing and ¢thstributAx.
1.10 C¥sh and •q￿vil•ntr
Cash and cash equwalents Include cash in hand. deposrts held al ¢all with banks. other short-tèrm liquid
inve8tment5 wilh orhginal malurities ol thi•• months or less. and bank obtrdrafts. Bank o¥trdraft$ 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 e￿Cl￿ to appty the provlsions of S•dkni 11 'BasK Fina￿9￿ 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 be￿Me8 party to the
conlraclual provisions of ihe in*rumtnt
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$a¢tion pnc• induding transact￿n L>)sls and •re sUbSeq￿nI￿ c•med at •mtsrli$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 T￿Ipts ¢*"$￿(￿%￿d li i mark•t rale ol inlor•$l. Fin*n¢a•l •ss•ls
doS31fied as re￿1¥3bte within one year aTe nol amLNl1s￿.
kg•slc fln•Khlll*bHhl••
8•8ic financi￿ h0￿"[rties. incbjding ¢redrtors •nd bank loo￿ a￿ inrttamy r•o)gni5ed al tr•n$a¢tK*n pri¢0 unkns5
the affan9em•nl constilutes • finanong Ir•nsadK*n. W￿re the debl inslrumenl is mf*a$uied al th• prn$•nl
v¥lue ol Ihe fvlure p8ymenls di8¢ount*d at a market rale ol intewt. Financial liabl1t￿$ rjassffied a$ payablo
thin ona y•ar *r• not arnor1￿8￿.
D•bt inslnJments are ￿b$89￿ •1 •mthJ•d co￿, u¥ing th• •ffectrn inl*r•st r•tè m•lhod.
Trade ¢redrtorn are oblffj4tK*ns io pay for or serwc•s th81 have been acqulr•d in the Ordin￿ cou188 01
operalions from suppliers Amounts payabkn are dèssffied as ¢uNeni Ii¥bdrtie$ 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•$ur¢d •¢ arno￿8•d ¢￿1 usw Ihe ell¢¢lrye Int•re8t nthod.
D•rn¢ognlllon ollln•n¢l•lllabllltl•s
Financial Iiabihlies aro der•cognised whon th• Ch•rrfy's conlractu•l obb9￿IDn$ exwre or are diKharged oi
Con￿le￿.
1.12 Tax•Uon
The Trtssl 1$ exempt from cOrporath￿ tax on rfs tharrtable aC1M￿S.
1.13 Employ•• b•n•flts
The cost of ony unused holiday eniillemenl is recounised in the period in •mploye•'8 $er¥ices arè
ceived.
TerM￿ation benefi16 are ￿cogn￿e0 immedialety a$ an expense when the Chanty is d8mon$trabty c4mmittod
to terminate Ihe employment ol an ern￿Oyee or lo pro*ide ieimination benefft5.
1.14 R•15rnmvnt b•n•llts
Payments to defined ¢ontribulx)n retir•n*nl be￿fft sthem•$ 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 Mule￿n
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
Tot*1
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
G0￿m8￿ce ￿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•l*in 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 recAiib*d any lemur￿8110n 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 ber￿fil$ of t￿ key mana9em•nl per￿1 **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 Inv￿lm*DI•
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$ •Ppl￿d 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 C￿r9ed 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
AddlI￿S
Valualion changes
11.027
10.000
2.451
AI 31 Augu$1 2025
23,478
Carrylng amount
Al 31 A￿￿81 2025
23,478
Al 31 August 2024
11.027
11 Sto¢k•
2025
2024
Fmished goods and goods for resale
2.962
3.562
17 D•btorn
2026
2024
Amounts l•lllng du• wlthln on• y•*r.
Olh•r debtor$
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 ¢Jèf*rred 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￿ SCI￿leS
2.034
1,944
The Charity operat•$ a def￿e¢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 Wn￿1$* Ihe unexpended b8￿nCeS of dM•lions and grants held on tru51
subjecl to $peofic condrtions by donor5 as to how they may be use(l.
lkn•m•nt In fund¥
Movement In lunds
In¢omlnq
R•soure
8alanc• at
I S•ptWnI￿ rMourt•• •wnd•d I S•pt*hb•r
IJ
1024
B•l•r•c• it
2015
Conal Rowan
Reserye
Cathwine
6.415
23,764
6.415
23.764
6.415
23,764
345
345
34S
HerNage
86set$
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$sets.
Guardian¥ - Pwpeiuation of the Memory ol Ihe Deeds arwj Mon of tho Afgyll •nd Suthertand H￿hlanderS
lor al tima.
MaioT GeneTal Gvaham . to comm•morale the service of Major General Graham In the Regiment as ol
Ihe future Museum development.
The rede￿k1pme￿I fund Is loi the tr•n$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$s81s
Investments
CuTTenl •58•t$ll￿aOlI￿*$)
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 AUg￿t 2024:
Tanglbbe a$$el$
Herrtage assets
Inveslmènls
Current asBetsllliabthl*8)
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$alK*ns are related porl*s".
. The Argyll oTr1 Sutherfand Hlghlanders Shop LThited
Th•Argyll ond Suih•rfar*d Highl•nders R•gimentsl Trust
R￿alOd p•rty Iron8¥Clioni ar• as fthlcwA'.
During lh• year, the Tnmt f•ui¥*d no tloMtM12024. £NiTr> from Th• Argyll and Sulh•rtand HNhknd•rs Shop
Limrted.
DurirvJ th• year to 31 Au9u$I 2025, the Twst few￿d grants domltons 01 £22.954 12024. £13.COOI from
Th• AWI •nd Sulherl8nd HwJhlanders Regimthal Tft￿l. 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. Vol￿1￿ 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 Ca*h 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¢livrt*s
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 wo￿1￿9 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.