RECISTERED CHARITY IYUMBEIL. SC042519 REPORT OF THE TRUSTEES AND UNAUDrfED FINANCIAL gfATEMENTS FOR THE YEAR ENDED 30TH NoVmBER1024 FOR JOHN BUCHAN HERrfAGE MUSEUM TRUST JRW Hogg & ThoTburn l.LP 19 Bllccleuch Strttt Hawick Roxburghshi TD9 OHL
JOHN BUCHAN HEIUTAGE MUSEi]M TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YF.AR ENDED 30TH NOVEMBER 2024 P8g¢ Reference and Adminislratiyc Details Chairn14n's Report Report of the Trust¢e$ Ind¢pendent F4xaminer's Report Statement of Financial Adiyitles Balanee Sheet Notes to the FinaD¢ial Slatements 10 to 18 Detailed Stst¢ment of FinaDcial Aetivfities 19 to 20
JOITh BUCHAN HEIUTAGE MUSEUM TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30TH NOVEMBER 2024 REGISTERED CHARITY SC042519 INDEPENDENT EK4MINER JRW Hogg & Thorburn LLP Chartered Accountanls 19 Buccleuch Street Hawick Roxburghshi TD9 OHL BANKEILS Royal Bank of Scotland PIC P¢¢bl¢s Branch 4 Eastgat¢ Pe¢bl¢s EH45 SSL Page I
JOHN BUCIL4N HERITAGE MUSEUM TRUST CHAIRW'S REPORT FOR THE YEAR ENDED 30TH NOVEMBER 2024 2024 was another interesting and successful year for the Museum. We are pleased that our volunteer numbers are holdin8 St¢ady. The volunt¢¢rs are becoming mor¢ knowledgeable and confident with regular help and advice from the Management Committee. This has enabled the Museum to extend its op¢ning pcriod to mid_November. We are very fortunate at this titne in th¢ composition of our Management Committe¢ who bring a range of different skills to the tsble. Volunteers and members of the family continued to give a wide range of talks to groups, both locallv and further &fi¢ld as we continue our valuable ¢ollalK)rntion with the John Buchan Society, both here As this year (2025) marks the 150th anniversary of JB'S birth. the Trust's Chairnian and ill travel to Kingson, Ontario to give a number of talks at the invitation of the Canadian and iNoftli American members of The John Buchan Society .In particular. ihe Chairnian will present a visual tour d'horizon of th¢ Museum, giving it valuable publicity. Our visitor numbers were 2,619 ddults and 136 children including a number of successful visits by groups, including one from the USA. The Museum also remained open into November. which 8en¢rthd another 388 Vj5jtors. Donations in¢reas¢d to over £3,000. W¢ continue to revi¢w ow access arrangements for the less mobile and we are CUTrently revTewin8 the potential for a hearing loop. Thi5 yeae5 spla] exhibition was "Huntingtower This appeared in serialised forni in the London Illuslrnied in the 19205. The sketches of various Huntingtower features in the magazine forn]ed the bASiS of the exhibition and Caused mush interest with the visitors. This exhibition will conlinue into the first part of the 2025 season. In reeognition of our outreach commitment to th¢ ¢ommunityJ the Mus¢um once again sponsored a handwriting competition at ihe primary school in Broughton. Peeblesshire. where John Buchan's mother's family came from, where he spent many happy holiday4 and d¢s¢riptions of which feature in rnAny of his writings. I'he judging tk place at the Broughton Horticultural Show in August and the winiiing eiitries were ihen displayed on the Mus¢um's website. John Buchan's grandson. ha5 agre¢d to choose the text this year. With regard to IT, th¢ ¢ommitt¢e are still considering the impact or Abound Ltd, 2023 report on th¢ future use of IT in the museum. Thc report covered a Itics.. Audio. Video, Digital Lthlling, Digital Augm¢nlalion. Extended Reality and Artificial Intelligence. The rep)rt concluded with the sound advi¢e "we would advocate returnin8 to first principles: to consider what opportunilies exist to reveal more stories or enhance understanding about John Buchan and his remarkable life. From this you can begin to map who your targ¢t audience will be for those stories. and finally what the most appropriat¢ media will be to communicate them." To our great delight the First Nation h¢addr¢ss, given to JB v4h¢n h¢ was in his rol¢ as Governor-Gener8]. Chief Scout of CanadK is coming back to us on 8 rolling l(ian from the Russ¢ll-Cotss Museum in Bourn¢mouth. Much of 2024 was taken up with protracted negotiations as we need io meet stringent Conditions to ensure it is looked after to national museum standards. li was very popular with visitors when it was on loan to us b¢for¢ thc pandemic and we look forward to featuring it in the 150th annive celebrations in 2025. At the trust¢¢s meeting in November 2024, we said goodbye to our Treasure who was a founder m¢mb¢r of the Trust and has guided us with skill and good humour through nijr IiIi<lllLe% il)cluding our dealings with CCLA. He will be much missed but we welcome his brother, o the role. Page 2
JOHTrI BUCHAN HERrrAGE MUSEUM TRUST FOR THE YEAR ENDED 30TH NOVEMBER 2024 . as Chairnian of the Trust, will be tIring at the AGM in March 2025 but a Su¢sS0r has been identifi¢d. It has been a privil¢ge. if not always a plea5ur¢, I remain a trustee until November 2025. ILhairn)an) Page 3
JOHN BUCHAN HERrrAGE MUSEUM TRUST REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 30TH NOVEMBER 2024 Th¢ tThstees present their r¢port with the financiRI statements of the charity for the year ended 30th November 2024. The trustees have adop*d the provisions of Accounting and Reporting by Charities: Statement of ReLofflmended Practice applicable to charities preparing their accounts in accordance with the Finaniial Reporting Standard applicable in the UK and Republic of ITeland (FRS 102) (effective l January 2019). OBJECTIVES AND AcfIiqTIES Objectives and Aims a) To PTomot¢ as widely as possible interest in the life and work of John Buchan, author, politician, diplomat and %tatesman and of his family. b) To achieve this aim by operating a Museum with displays of objects relating to his life including photographs and audio visual presentations, ustng modern thnologY of his many achievements. and t() make available copies of his books both n¢w and second hand. c) To maintain am archive of documents relating to John Bv¢han and to make it availabl¢ to academic researchus and other interested parties. Th¢ gift of the Alasdair Hutton Research COlltIon of books And papets is being catalogued for the benefjt of scholars and fans Alike. ACHtEVEMENT AND PERFORMANCE Charitable a¢tivi¢ie$ The main achievement of the charity has been to Continue to promote the life and worf(s of John Buchan (1875-1940). a famous Scottish nov¢list and storyteller, and a distinguished historian, biographer, politician, diplomat and statesman. Our big achievement this year has been to secure the r¢turn on rolling loan from the Russell_cotes Museum in Bournemouth JB'S First Nations headdress, which attracted many visitOTS when it was on loan before th¢ pandemi¢. Our visitor numb¢r Continue to grow Hnd we continue to look for new ways to engage younger and less able visitors. Jntcractive I-pads showing the many films and plays based on JB'S most famous novel The 'I'hirry-Nine Steps remain very popular and, as mentioned above. the Alasdair Hutton Research Collcction is available for visitors to access in person and remotely. Page 4
JOHN BUCHAN HERITAGE lUsEUm TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH NOVEMBER 2024 FL¥ANCIAL REVIEW FfinallcIAI positio The Accounts to 30th November 2024 show net income of £27.940 (2023. net expendilure £1,208) after inLludin¥ unrealised 8&ins on investments of £29.442 (2023 £2,155). The net operkting expenditur¢ was £1,502 (2023, net operating expenditure £3.363). The investment portfolio at 30th Nov¢mber. 2024 amounted to £347.813 (2023. £318.371). This represents a total r¢thrn of {c4pitsl plus income) of 12.40/0 very slighily ahead of the 12.20/0 seen in 2023. This continues to a strong perfornwice and continues to rebuild the portfolio after thc diifi¢ulii¢s of 2022. Although the COIF portfolio perfomied reasonably it lagged the benchmark for calendar 2024 and the CPI +40/0 targel 5¢t for the w)rtfolio. The prime reason for this is they are relatively underweight in key US Tech stocks. They make a case for the value in the US being far too concentrated and that there is significantly better valu¢ elsewhere. Time will tell whether this is correct. As at 30 November 2024. total funds {all of which are UDrestriLted) amounted to £371.101 principalty repres¢trt¢d by Investment% at market value of £347.813 and cash at bank of £19,891. The Trustees grat¢fully appreciate donations of all amounts. Annual support from The John Bu¢han Society is also gratefully acknowledged. Reserves policy The Tn]stees aim to maintain reserves in cash and bank deposits at a level which equat¢s to approximately two years of charitsble expenditure. The Trustees consider that this level will provide Su]c]ent funds to respond to requirements for investment in the Museum as well as operating expenses, and ensure that there ar¢ sufficient finds available to cov¢r support aJ]d governance costs. Any surplus unrestricted fvnds are invested in COIF units in order to provide income and long- t¢rni capital growth to sustain the Museum's activities. Going concern The trust remains in a sound financial positii)n. The Trustees anticipate no difficulty in meetin8 the obligations of the Chariry. The Trustees, investment policy looks to maintsin the pr¢s¢nt position in the short terni and to Ik towards medium to long terni growth in income and capitsl. Totsl knnrestricted funds held at 30th November 2024 amount to £371,101 (2023. £343,161) tncludin8 cash of £19.893 and investments of £347.813. STRUCTURE, GOVERF4ANCE AND MANAGEMENT Governing doeumenl The charity is a Scottish Charitable Incorporated Organisation (SCIO). incorporated on 16 August 2011 and governed by its Constitution of ihe same date. The SCIO is r¢cognised by the HM Revenue and Customs as S¢ottish Charity under number SC042519. In the event of the Trust being wound up any surplus assets must be used for purw>se8 by another body with similar objectives to th¢ Trust. Pag¢ 5
JOHN BUCHAN HERITAGE MUSEUM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH NOVEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and Appointment of new trustees I'he individuals who signed the charlry trnstee dee12ration fornis. which accompanicd the application for incorporation of the organisation, shall be deemed to be the charitys first trustees. The trustees will initially be appointed for a five year term and at the end of that they may be reapw>inted for a sec4)nd five year terni. In special circumstances. it may b¢ appropriate for rrustecs to s¢Tv¢ for further t¢rn)s and this is specifically acknowledged on the Constitution. The truste¢s will be apw)inted with regard to the skills needed to mAnage an organisation of this nature and will include at least one direct d¢scendant of John Buchan. The truslees will seek to artange a rota for retiral in order to ensur¢ ntinuity in the manag¢m¢nl of the organisation. Org4nisalioDAI structure The Charity Inislees have. dele8.atcd day to day management of the muscutn to a management ¢ommittee. chaired bh0 was appoinl¢d during the year. IDdurtion And trnining of new tru$lee5 New trustees under80 an appropriatc induction programme lo brief them on their obligations und¢r charity law and the financial perforniance of th¢ company. Related partles Detsils of transactions with related parties ar¢ set out in note 19 of the financial statements. Risk m4Da2ement The truslees continue to assess the major risks to which the charity might b¢ exposed in particular those relaling lo the operations and fJllan¢es of the Trust. They are at pains to sel in place gyst¢ms to mitigate our exposure lo any major risks. Approv¢d by order of the board of trustees on 12th March 2025 and signed on its behalf by.. Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOHN BUCHAN HERITAGE MUSEUM TRUST I report on th¢ accounts for the year ended 30th November 2024 set ou¢ on pages eight to eighteen. Respective responsibilitics of trnstees and examiner The chariws Irustees are responsible for the preparation of the accounts in accordan¢e with the ternls of the Chartties and Trust¢¢ Investment (Scotland) Act 2005 and the Charities Accounts {S¢otland) R¢gulations 2006 (as amended). The ¢harity'5 trustees consider that the audit requirement of Regulation 10{1 Ka) to (c) of Ihe Accounts Regulations does not apply. It is my responsibility to examine the OUnts as required under Section 44(1)(c) of the Act and to state whether particular matt¢rs hav¢ come to my attenlion. Basis of the independent euminer's report My examination was carried out in accordance with Regulation I l of the Charities Accounts (Scotland) Regulations 2006. AD elinatIOn in¢ludes a review of th¢ accounting records kept by the charity and a compRrison of the accounts presented with those records. Jt also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such m&tt¢rs. The procedures undertaken do not provide all the evidence that would b¢ required in an audiL and consequ¢ntly I do not express an audit opinion on the view giv¢n by the accounts. llldependent examiner's statement In Connection with my examination, no matter has come lo my attention . (l} which giv¢s me reasonable cause to believe thaL in any material respecl the requirem¢nts to keep accounting records in accordance with StIon 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations- and to prepare accounts whi¢h accord wÈth the accounting records and to ¢omply with RegUl10n 8 of the 2006 Accounts Regulations have not bn m¢L or (2) to whic}4 in my opinion. attention should be drawn in order to enable a proper understsndin8 of the accounts to be reached. JRW Ho88 & Thorburn LLP Chartered Accountants 19 BuGcl¢uch Strt H&wi¢k Roxburghshire TD9 OHL 27th Mareh 2025 Page 7
JOHN BUCHAN HERITAGE hlUSEUM TRUST STATEMENT OF FINANCIAL ACTIVtflES FOR THE YEAR ENDED 30TH NOVEMBER 2024 2024 Unrestricted funds 2023 Total funds &s restated Notes INCOME AND ENDOWMENfs FROM Donations and legacies 3,436 3,086 Other trading activities InvesthTrent incom¢ 2,921 9,936 3,841 9,770 Total 16.293 16,697 EXPEiwrruRE ON Raising funds 1,444 1.897 ChrItable 4rtivities Operating of museum 16.351 18.163 Totsl 17,795 20,060 Net gains on investments 29,M2 2,155 NET INCOMEI(EXPENDITURE) 27.940 (1208) RECONCILIATION OF FtiNDS Total funds brought forward 343,161 344,369 TOTAL FUNDS CARRIED FORWARD 371,101 343,161 The notes fomi part of these financial statements Page 8
JOHN BUCHAN HERITAGE MUSEUM TRUST BALANCE SHEET 30TH NOVEMiIER 2024 2024 Unrestrithed funds 2023 Total funds as reststed Notes FIXED ASSETS Heritage assets Investm¢nls 12 13 3,200 347,813 3.200 318,371 351,013 321,571 CURRENT ASSETS Stocks Debtors Cash at bank 14 15 650 850 19,893 650 921 21,219 21,393 22.790 CREDITORS Amounts falling due within on¢ year 16 (1,305) (I,200) NET CURRENT ASSETS 20,088 21,590 TOTAL ASSETS LESS CURRENT LIABTLTfiES 371,101 343,161 NET ASSETS 371,101 343.161 FUNDS Unrestricted funds 17 371,101 343.161 TOTAL FufiDS 371,101 343.161 The financial statrments were approved by the Board of Trusttts and authorised for issue on 12th March 2025 and w¢r¢ signcd on its behalf by: Th¢ notes fom) part of thes¢ financial statements Pag¢ 9
JOHN BUCHAN HERfiAGE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 30TH NOVEMBER 2024 ACCOUNTING POLICIES Bayi8 of preparing the fillamcixl ytatements The financial statements of the Chlty. which is a public benefrt entity under FRS 102, have been prcpared in accordance with th¢ Charities SORP (FRS 102) 'Accounting and Reporting by Ch&rilies: Stat¢menl uf Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in lh¢ UK and R¢public of Ireland (FRS 102) (¢ff¢ctive l January 2019),. FinAncial Reporting Standard 102 'The Financial Reporting Standard applicablc in the UK and Republic of Ireland, and the Chariti¢s and Trustee Investment (Seotland) Act 2005. The financial statements have been ppared under the historical cost convention, with the ex¢eption of investments which are included at market valu¢. as modifled by the revaluation of certain assets. Income All income is recolSed in the Ststement of Financial Activities once the charity has entitlem¢nt to the funds. il is probable that the income will be received and the amount can be measured reliably. ExpeDdi¢ure Liabilities are reco]sed as ¢xpeJ)ditUTe as soon as there is a legal or constructiv¢ obligation committing th¢ charity to that expenditure. il is probable that a transfer of economic benefits will be requircd in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrua15 basis and has been classified under headings that aggreg&te all ci)st related to the category. Ivhere costs cAnnot be directly attributed to particular heading5 they hav¢ been allocated to aclivilies on a basis consistent with the use ofresources. Governance costs CJov¢rnance costs are those incurred in connection with the administration of the company and compliance with constitutional and statutory requir¢m¢nts. Heritage assets The book is stated at the v8lue pla¢¢d on purchase and subsequenl valuation. It is not con5ider¢d appropriate to depre¢Aat¢ this ass¢t. Stock8 Sto¢ks are valued at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving items. TaxAtiott The charity is exempt frorn tax on its ¢haTitable activities. Fund gecounting Unrestricted funds can IK used in accordance with the Charitable objectives at the discretion of the ITUSt¢¢5. Restricted funds can only be used for particular TesLri¢ted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the natUTe and PUTPOS¢ of each nd is included in the notes to the financial statem¢nts. Page 10 continued...
JOHN BUCHAN HERrrAGE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENfs - continued FOR THE YEAR ENDED 30TH NOVEMBER 2024 ACCOUNTING POLICIES - tontinued Hlre purchase #nd leasing commitments Rentals paid under operating leases are charged io the Stent of Financial Activities on a straight Itne basis over the period of the lease. Jnyestments Investments are shown Rt fair value. Any aggregate gains or losses Arising from changes to fair valu¢ is transferred to the Stst¢m¢nt of Financial Activities. Fingncial ets Basic financial assets. including trade and other debtors and bank balances, are initially recognised at trAns&¢tton price. At the end of each reporling period financial assets measured at cost are assessed for evidence of imp&irnient. Any impairn)ent loss is recognised in the Statement of Financial A¢tivilies. Financial assets are derecognised wh¢n the contracthal rights to the c&th flows from the Asset ¢xpire or are s¢ttl¢d. Fin4n¢ial liabilities Basic fmancial liabilities. including trade and other creditors, are initially recognised at transaction price. .1 rade creditors are obligations to pay for goods or services that have b¢en acquired in the ordinory course of business from suppliers. These are classed as current li&bilities if payment is due within one year or less. If not they are presented as non-¢urrent liabilities. Financial liabilities are derecognised whcn the liability is ¢xtinguish¢d. that is when the contractual obligalion is discharged, cancelled or expires. DOIYATIOIYS AND LEGACIES 2024 2023 as r¢stat¢d Donations 3,436 3,086 OTHER TRADING ACTIVITIES 2024 2023 as restated Sale of books Other net fundTaising- Runagatss Club Merchandise and sundry income 2,994 {722) 649 2.816 294 731 2,921 3.841 Pag¢ll continued...
JOHN BUCHAN HERITAGE MUSEUM TRUST NOTES TO THE FINAI¥CIAL STATEMENTS- continued FOR THE YEAR ENDF.D 30TH NOVEMBER 2024 INVESTMENT INCOME 2024 2023 18 restated Dividend in¢om¢ Dew)sit account InteSt 9,936 9.769 9.936 9.770 RAISING FUNDS Other trading actfvities 2024 2023 as restatcd Purchases 1.444 1.897 CHARITABLE ACTTVtTTES COSTS Direct Costs (see note 7) Support costs (see note 8) Totals Operating ofmuseum 14,598 1,753 16.351 DIRECT COSTS OF CHAIUTABLE ACTIlEs 2024 2023 as restated Other operating l¢as¢s Building setvice charges Insurdnce Desk rental Telephone artd computer costs Postsg¢ and stationery Publicity and printing Sundries Repairs and renewals Design and artefact presentation 4.950 4,500 1,119 4,950 4.500 1.073 542 ,122 191 1.564 603 1,276 1.142 968 74 1.441 481 615 450 14,598 16.963 Page 12 cnntinued...
JOHN BUCHAN HEIUTAGE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 30TH NOVEMBER 2024 SUPPORT COSTS Governan¢e costs Operating of museum 1.753 Support costs. included in the above, are as follows.. 2024 2023 as restated Tolal activiti¢s Opernting of museum Meeting costs Indendent examiners fee 433 1,320 1200 1,753 1.200 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or oth¢r benefits for the year end¢d 30th November 2024 nor for the year ended 30th November 2023. Trustees, expellses Three trust¢¢s received re-imbursement of operational and general expen5¢s incurred on behalf of th¢ charity in the period totslling £572 (2023 3, totalling £1,199). 10. COMPARATIVES FOR THE STATEMENf OF FINANCIAL ACTIvrrtES Unr¢stri¢t¢d funds as r¢slat INCOME AND ENDOWMEwfs FROM Donations And legacies 3.086 Other trading activities Inv¢stsn¢nl income 3.841 9.770 Totsl 16,697 EXPENDrruRE ON Raising fund5 1.897 Charitsble activltles Operating of miiseum 18.163 Total 20.060 Page 13 onlinued...
JOHN BUCHAN HERITAGE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS- wntinued FOR THE YEAR ENDED 30TH NOVEMBER 2024 10. COMPAIL4TIVES FOR THE STATEMENT OF FJNANCIAL ACTIVITIES- contlnued Unrestricted funds as restatsd Net gains on investments 2.155 ET tNCOME/(EXPENDITURE} {1,208) IIECONCILLITION OF FUNDS Tolal funds brought forward 344,369 TOTAL FUNDS CARRJED FORWARD 343.161 11. PRIOR TrTAR ADJUSTMENr A book investmenl previously stated as stock has been reclassified as a heritage asset. 12. HERrrAGE ASSETS Total MARKET VALUE At I st D¢cember 2023 and 30th Nov¢mber 2024 3.200 IYET BOOK VALUE At 30th November 2024 3.200 At 30th November 2023 3.200 Heritage assets relat¢s to a bwk purchase made by th¢ Trusl in 2018. Th¢ book na]ned "Thc Law Relating to the Taxation of Foreign In¢om¢" by John Buchan is one of the rarcst of all works by John Buchan. This bk is on display within the museum and ran be used as an archive ilem. The main factors which contribute to its value are its rarity, condition. handwritt¢n inscription In, chan and the addressee of the inscription. The valuation was undertaken in 2023 by Trustee}, book dealer. who specialises in John Buchan's works. Page 14 continued...
JOHN BUCHAN HERAGE MUSEUM TRUST NOTES TO THE FINANCIAL sTATEmErs - continued FOR THE YEAR ENDED 30Th NOVEMBER 2024 13. FIXED ASSET INVESTMENTS Listed investm¢nts MARKET VALUE At I st December 2023 Revaluations 318,371 29,442 At 30th November 2024 347,813 NET BOOK VALUE At 30th November 2024 347,813 At 30th Nov¢mbcr 2023 318.371 There were no investment assets outside the UK. Cost or valuation at 30th November 2024 is represented by: Listed investments Valuation in 2024 347,813 Market Value COIF Charity Funds.. Global Equity Income Property Fixed Income No. of Units 87,601.90 58,284.02 18,946.57 Unit Valu¢ (p) 299.71 105.17 126.48 (£) 262,552 61.297 23,964 347,8l3 The historical cost of investments held at 30th November. 2024 was £225,000 (2023. 225,000). 14. STOCKS 2024 2023 as restat¢d Stock for resale 650 650 Page 15 continued...
JOHN BUCHAIY HERAGE MUSEUM TRUST OTES TO THE FINANCIAL STATEMENTS- contiDue41 FOR THE YEAR ENDED 30TH NOVEMBER 2024 15. DEBTORS: AMoiJNfs FALLllYG DUE wrrHIN ONE YEAR 2024 2023 as restated Prepayments 850 921 16. CREDITORS: AMOUNTS FALLING DUE WH[N ONE YEAR 2024 2023 as restated Other creditors 1,305 1200 17. MOVEMENT IN FUNDS Net movement in funds At .12.23 At 30.11.24 Unrestricted funds General fund Investm¢nts 24,790 318,371 (1,502) 29,442 23.288 347,813 343.161 27.940 371,101 TOTAL FUNDS 343,161 27,940 371.101 Net movement An funds. included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses in funds UDre5tricted fund5 Gen¢ral fund Inv¢stm¢nls 16,293 (17,795) (1,502) 29,442 29,442 16,293 (17,795) 29,442 27.940 TOTAL FUNDS 16,293 (17,795) 29,442 27.940 Page 16 continued...
JOHN BUCIIAN HERITAGE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENfs- ¢ontlnued FOR THE YEAR ENDED 30TH NOVEIIIBER 2024 17. MOVEMENT IN FUNDS - colltlllued Comp4rAtives for movement in funds N¢t movement in funds At .12.22 At 30.11.23 Unrestricied fuDd8 General fiind Investments 28.153 316,216 (3,363) 2.155 24.790 318.371 344,369 (1.208) 343.161 TOTAL FUNDS 344,369 (1,208) 343,161 Comparative net movement in funds. included in the above Are &s follows." Incoming resources Resources expended Gains and Movement losses in funds UDrestride41 llds General fund Investments 16,697 (20.060) (3,363) 2,155 2.155 16.697 {20.060) 2,155 (1.208) TOTAL FUNDS 16,697 (20.060) 2,155 (1,208) 18. OTHER FINANCIAL COMMITMENrs John Buchan Heritage Museum Trust has a lease on its premises at The Chambers Institution. P¢¢bles for a l O year period until 5th March 2022, and thereafter on giving three months, notice by either party. The current annual rent is £4,950. In addition to tbis. an annual servi¢¢ charge of £4,500 is currently paid. The Chambers Institution is preparing a long-t¢rn) strategy for the improvement of part of th¢ building housing the library and other services. but the indications are that the lenancy of the BuchAn Museum will not be affe¢t¢d. Page 17 continued...
JOHN BUCHAN HERITAGE MUSF,UM TRUST NOTES TO THE FINANCIAL ATEMENTs- continued FOR THE YEAR ENDED JOTH NOVEMBER 2024 19. RELATED PARTY DISCLOSURES There W¢Te no related party transactions for the year ended 30th November 2024. 20. DONATED SERVICES The Museum was open for 214 days during 2024. plus some extra opening in November. With mmitrnent from a stron8 bBnd of over 30 volunteers we have been able to pres¢nt the Museum to our visitors and participate in cv¢nts external to the Museum. Page 18