REGISTERED f.IIARITY NDMBER: SC044584 rtofth dtd Jolh thts f•¥ the Vei.201S. Farri¢5 KiTk & Mcvean Dumfries EDierpi5c Pork H&iihhllll Dutnfries DUMfrRif.SSliIRE 13sJ
lutt CIA55iC5 SCIO ontent ofth FiN#fv r kDdtd Oth Mxrth 2025 Pgt Rport of the Trnsttes INd¢ptAdtnt Ex¥Thiutr'¥ Rtport StAteJnent of Fin•ntil A¢tivitit5 Balance Shttt Notu l• the Flninelil S¢•Itettts 6 to 9 D¢¢illd Ststtment of Trits*•ti#l Artlvi¢l¢s 10
Ab501uie Cla 10 f the Tius¢¢ts for tht Ended 30th March 2025 The Iru5tee$ PTesetti their re[)rt with thr fitLartcial sleMents of thc charity for thc ycar ¢nded 3Qth March 2025. The trustees have opted the proiisions of AccoutttinB and R¢FK)rring by charii1És.' S¢aierrwii of Rec4)mtnend¢d Praciice applicable 10 charilics prewing Ihcir acwunts in accordance wilh ihe Finan¢ial Reporting Sthndard applicable in th¢ LK and Republic of Ireland IFRS 1021 leffe¢¢iv¢ l January 2019). OBJFcfivbs AND ACTIVITIF.S 11)L orBanisaiJon L5 C51abli&h¢d for charitable purpos¢s only. atld in particular, the objects aT¢= 'lThc or8onisaton'% purposes arc th¢ promotiott. maintenaD¢¢. trllprovemenL and advancement of educaiiDn PTin¢ipally by the encouragcm¢nL appreciation and enjoym•)i ofela%sÈcdJ mu5ir and other types of Jnysic" thtse purwb5cs in¢lude thc art5 of dram dance. liierature, 51oWtllin& son& Ihe 5pok¢n word and visual 8rlS including filrTL phowgwhy, digital deeoraiive Jrts. and crafts and uny ¢ombIn10n ofihe5c art fonn& principally bui Jjoi ¢xcltssively by holding P0Ml¢¢4 workshops atsd cvcnL In the area dcfintd in this pay88raph. 'th¢ area within which the organiwion sha]1 operate lin this constiiuiion thc'Am of knefit'l shall Dumfri¢s & calloway Sur1)d¢ll8 areas extending througUl SCotld Ind on ocwion elscwhcr¢ &% dctmcd ProprIat¢ by the Chjriiy Tru8tees. - Th¢ orwisation shall pronw Ibul not promotc u(1$1¢]Y) its activilic5 delivery opcralion$ people within the'Ar¢a or nencfit'.'Ihc5e p¢ople will b¢ the or8anisalion'$ n¢fiCiar1eS. In (Sei1n1ng Ihes¢ obj¢¢iives and aaiviiic5 the Trus¢s have paid due r¢wd io ihc ChlY Commi55ion guidanc¢ on publiL bcn¢f)l. ACIIIEVEMI.YI'S AND PTr.Kfr'OILMANCE During th¢ finanriAI period. the organisauon d¢li¥¢ffd world clas5 ¢I&$si¢ music conccrts an FAuc&tion and Outreach programme for youn8 wpl¢ arross DumfricB and Gdlloway. Ab501ulc cl51(5 pr¢s¢nied a summer fe51ival of¢1483i¢al music concert& showcasing the brilli&ni talenl of inicrndlionally renown¢d cI#sSlLdl musiciuns whil¢ Alw providing acccssibl¢ and olTordable opwnunili¢5 for familics and friends 10 IoBeiheT and 5har¢ Ih¢sc phenomLndl cxptr>cr5¢¢s. Our nN)nihly conceff rI¢S took ihese exrienC¢S inio local commurtiiies tAeh rnonih bdween S¢pi¢mb¢r 2024 and March 2025, with 3 d8y tours of local nU¢S r$S th¢ region. Our uL(lon4] work niInued 10 d¢v¢lop •1¢8acy of Icarning local music 5tud¢#ts dcspitr coniinued ¢hailcn8¢s around fundin¥. Thc 5upcrb Dabiot) House in Thornhill champion¢d OUT firsi ev¢ryoun8 musicians rcr11 in May 2024, wh¢r¢ we Suprt¥d em¢r8ing musicions from ihc 810n 10 prepare foi arbd puforni A professionally paid ¢oneert. Wc Worked tloscly with the IMCJ Council'$ Youih Music Iniiiativc lo brirt8 mwic educators of the highest standard th¢ delivcr a variety of cngaging and cially kn¢firio1 music makin8 aciivilies. All of OUT work is only wssible by our patsOn& SnlS and fund¢ry whom we arc ¢speciaJly 8ratcful for their support 'INAN(.'IAI. R Tr:VIF.W VinAnciil p051tion ThL charity Keneraicd unrcstrir¢d and restricted incoming SOurc¢S lo¢Alling £236.870. Rcsourrcs ¢xpendcd toullcd £159.569. The results for the ycar and the chaTily'$ financial w5ilion al ihe ¢nd of the >car arc shown in ihe #itschcd fjnanrial siai¢menls. Reservu policy 'lknc"I'ru5tees have examined the charitys wuirenwjts for rc5crv¢5 in ligh¢ of thc main ri5k5 ¢0 th¢ orRanisaiion. The I'rusiees havc cslabli5hcd & r¢s¢rves FK)licy which defines lh¢ Fxit¢thtage of iurnovcr nc¢dwJ 4 I¢Y/o to meffl Ih¢ workin8 tapital rcquirctncnts of Ihe chariiy and LntInUe Ik curr¢ni a¢tiviiies ofthe charily in the evertt ofun¢xpcrtuJ inrr¢&ws in budgded ¢xpenscs and l or ailverse ¢irrtsmsian¢e5 requiring additional spcfLd fmm thc cximing budget As funding is secur¢d foT the full yeAr in advanc¢. futur¢ annual PTO8Tamme budgets will inCOTWkT the re5erve5 policy, 10 b¢ ssign¢d from unrestrictcd fundin& and / or Vdrned inwme. In the shon rni th¢ Trusiees erLSUTe thai rontitt8cncy continvcs io bc 5uifiri¢nily budgeted for. reviews cxp¢nditurt re8ularly and ha5 tonsidcted the exicnt to wthich cxisting attivilics e¥pei)diiure could b¢ $tmed. sknuld su¢h CiTcum5¢antt$ Irise. At the year end. the Charity hod General Rcscrvesof £169,083. This'is con5idcr¥J to be an appTOPTie level of reserves. FUTURL PLANS The charity plans io continue the auivittes ou(lined atove irt the forthcoming years 5ubje¢i 10 5atisfartory funding arrnngement5. Plans are a150 bcing dtIo[d to attrall wider audienecs particularly Ihos¢ ofyounger age gTOUP% and provide high quallty cla55L¢al music, Cul¢Ur aRd higaer educational opportunities for tre ofthe Dumfri¢s & Galloway popul*ion. Pag¢ I
Absolut
scio
orto(IheT
r tbe Tr'tlr End
Oth Mr¢h 2
STRucfuRE, GOVERNAPICE ATriD MANAGEMEPIT
GovtrrtinE document
'IMe thayity is wnlrolled b> Jts 8overning dOCul a
Ldtnt Examlner's Re Drt t thr Tru5 Absol¥le Classics SCIO I rerNJrt on the accoiints for th¢ ve2rended 30th March 2025 sei out on pages fourto nine_ Rtspective r¢sponsibilities oftrusttts and exmlfter rhe chariils iru51ees are Tt5wnsible for lh¢ preparation orth¢ ac£ordaThc¢ with the of the Chariiies and Trusiee Invesimeni lsroilartd) Aci 2)3 and the Chariiies Accounts Iscotlandl Ke8ulatiOn5 2006 (as am¢ndedl. Thc charity's tntstCC5 con57der ihai Ihe audit Tequircment of Ke2uJation 101 Ima) w Icl ofthe ACCowi Regulaiion5 does not apply. li is my responsibility 10 cxdminc the wjunts H5 r4uired und¢r SetTiOt1 44{IXrl of th¢ Ac¢ tnd 10 statr whether pwticular rnthrters have come to my attention. Bisl$ of the indeptndent e¥mintr's report My ¢x&min&ion was carried out in accordw¢¢ wilh R¢guLaiion I l of th¢ Charilir5 Accounts 19crflJl Regulations 20(16 An ¢x8rnintsiion in¢lude5 o rewitw of th¢ a¢¢oun¢iThg rtcords k¢pt by the charity and a comparison of the aCCl1$ Presenivd wilh (h05¢ r¢cord¢ It dlyj includes LY)nsLderslion of any IterLs or di%losures iÈ the rOUnts. and i¢&i118 explanaiions from you as Iru4iee% conc¢ming any such maucr5. The proc¢duTC5 uDdLtskeD do noi providr all th tvideo¢e th would rcquired in an I111. and consequcTLII)' I do noi exp$ audit opitLiOn on the viov 8i¥en by the ac¢oun¢s. IKdep¢Thdent exmiBtr's sttment In conneciifin wilh my ¢xhrnlnaii(. no mjllcr has coff¢ my aii¢niion '. 11) %vhLLh gi¥¢5 r¢&qonablc cous¢ tc believ¢ thJL In anv m1¢r1 rtsyerL th¢ requirtmcnis io keep accounlirtg record5 In o¢cordwKY with S¢¢iion 441 Ixal of lh¢ 21Y)5 A¢1 8n(l RcRul&tion 4 of the 2(KJ6 A¢¢ounts RLyulthions. &rxl Iv preparc (ounts which •rd with the d¢¢oyoiin8 r¢wrd8 and lo 4x)mply wilh R¢gulation 8 of Ibe 2006 A}UnIS Regul81ionJ h8Ye nol been mrf.. or Iy ii.Fjch mi. orinit)fj ¢hhiild Inim in f•rthT eth8ble a prppcr under)ianding of ¢he llccounts l¢hed. Ti¢4 Kirk & M¢Vean Diimlrie% r.nlcqyri5L' Park L)utn(rics DIIMFEiIESSHIRE nerl i%J 26t]i AU51 21125 Pagc 3
Ab Ilssits SC Statement ol FIttJDrial Artiviti or the Ye cd 30th Mir h202 2023 Totsi funds 2024 Totsl funds Untellricled fUd Resrricwl rwjds NoiL INCOME AND ENDOWMENTS FRO. tlonaliong and Itgacies 142.640 193.631 72,196 Cb8rltsble ittivities Cl#>%1[ Music Promotion 1.240 36.199 37.439 3 1.264 Other trJ)ng 8¢tsviii¢s 5.800 J.800 3.500 Tot#1 52.2Jl 184.639 236.870 106.960 EXPFNDITURE ON Chrltabl¢ JLttivitls Classical Musir PromDiion 69.862 89.707 159.569 127.783 NLT INCOMTrjIEXPLD1TURE} Tr*nif¢rs b¢twttn fund$ 117.631) 100.o(x) 94.932 I100,(K) 77,301 {20.821) Net movemtDt in funds 82,369 (5.0681 77.301 {20.8231 KF.C'll%I Cll,IA'finN OTr- FUNDS 'lo¢al lunds bwughi lontyard 55.2LKI 36.582 91.782 112.605 TO'fAL FUNDS CARRILD FORWARD 131.569 31,514 169.083 91.782 The noie5 forni part ofihese fJnaNriaJ sthtements Pag¢ 4
I te CIssic5 tb Mar h202 2025 Ti)(al futtds 2024 Unre[l¢le futml R¢stri<ied fwjds bjnds es FIXED ASSETS Tangible &%scis I IOJ70 116.270 19,145 CURRENT ASSETS Cash bank 24.620 31.514 5fy134 74,687 CRLDITORS Amunls f&llLtI8 dJe within on¢ ycar {3.3211 13.3211 {2.0501 NLTCURHFYT ASSL'rs 21.299 31.J14 52.813 72.637 TOTAL ASSETS LESS CURRENT I.IABILITIES 137.569 31,514 169.083 91.782 YET ASSF.TS l37.569 31.514 169.083 91,782 FIIYDS UnT¢siri¢i¢d funds Rejirl furds 137.369 31.514 35,200 36,582 TOTAL VUNDS 169.083 91,782 Thc fin4Wfi41 l¢ments approved by the Bo4rd of Tntte$ and 8uthris¢d for i&sue on 26th Aug 2025 and were si8ned on Th¢ n(3 fomi p&rt vfthw futLcial sW¢ments Page 5
Absolvte o tbt Finllci%l Sllemen15 f r the Ytlr F.Dded 30ih M¥rch 2025 ACCObNTING POLICIF Bw5i$ of prepAring the fLttXlltil 5tattmtnts The financial slatcrntnls of Ihe charity. whLLh is a public b¢thefrt eniity under FRS 102. have kn prepared in accordance 'ith the Chariiics SORP IFRS 1021'Accouniing )d Rqx>rtsng by Chariiies.. StaktrLtni ofRecotnmendcd Pradiec applirable to charitles prwaring iheir arUrtts in accord3nre with th¢ FinanciJ tnIng Standard applicable in the UK and Republi of Ifeland IFRS 1021 le(feciiwc I january 20191,. Financial R¢w>rtinB Stsndard 102 The fiThgn¢i Reporting Standard applicablc in th¢ UK and R¢public of IlaDd, 4uJd the Chariiie5 wld TnLsiee Invcsltn¢ni (s11aal Act 2005. The financial sthiem¢nl&' have bttn prepard under the hisloric31 ¢0# convention. All incorne is recognise41 in the Sisiemei4t of Financid A1VitieS once the chiiy h&$ cntiilemeni to the funds. it Is probablc that the in¢ome will bc re¢¢ived 8nd the artwuni ¢an be K#T¢d reliably. Expenditure l.i#bilitits are reco8nis¢d as exndItuTe as there is i le8ai or cons¢ru¢iLve obligoiion commit¢iD8 the charity Ihat expendilurc. il 1$ probable that a transfer ofeconomi¢ beTrItS will be r¢quiTcd in ¢lll¢meni and ihe amount of ihe obligalion ¢an be measured reli4bly. ExpendiDJrc is a¢¢ounied foT QD an ac£ruaJ5 basis and has b¢tn c]lfied Uter tLcadin85 that ag8TcKait all cost rLlai¢d to ihc caicgory. Where CO$ ¢artnoi be dir¢¢ily tribUted pankculaT h¢Adin85 Ihty have been alli)Llltcd to aciiviiies on a b&%is Lonsisient with th¢ use of resourtts. Tan2iblt fixed a5J¢ts l)cprciiation is provided ai the followin8 arbnuaj TAkS in order OtTeach a$5¢t over ils ¢siimat¢d useful lif¢. Plant and m*hinery 15% on reducing bajknte Taxation Lhiirily is ¢xempt from tax 00 its chtirithbl¢ athivqiu. Fund •¢tountlng Unr¢>iriiicd fund5 can b¢ ¥s¢d in accoTth¢e with the charithble objffji ht the di%rrlion of the trusices. Rcsir>ci¢d funds C4hn only b¢ us¢d fur parti¢ulaT r¢stri¢ied PUTfx1S WLthin ihe Obj($ of tsle charity. Restriaion¥ arlse whcii 5p¢cif)¢d1sy Ihc donor OT whcn funds are raiscd for wicular rcstri¢¢¢d purposes. Futth¢r explanalion ofihe nature and purpoy¢ of¢ach fithd is includryl in the noies ihe fitL&ncial 5t8tcinettts. DONA TIONS AND LEGACILS 2025 2024 Donaiion Gift aid tiranis 25,435 2.176 166.020 26,426 3.145 42.625 193.631 72.196 Grants rcceivwl. included in the th>v< ar¢ as follows.. 2025 2024 Ilolyw(XFd Tntst D & G Council FIugh Fra5¢r Foundation D & Ci Ans Fcstival TFi¢ Hope Scoll TTUS1 Mrs A M Spur8in Charitable Tn]st St JatnL<s Place Charitsble FOndlon The WeaihrTdl Foundaiion Tru5L The Ciernld & Margo Snjith Founthion WitliLYen foundiiion 8.920 22.600 4,01)0 8.920 8,905 L8(KJ 2,500 I.OLN) 5.0(Nl 15.OL 5.000 2.0(Xl 5,0(Hk 15.000 166.020 42,625 Page 6
bsolute Cla its SCIO Notts o th Financial S r the Year Ended Joth M tontinue h 2025 OTHER TRADifG AcfiviTIES 202J 2024 Sponsor5hip5 5,8(M) 3,500 INCO1 FROM CIIARITABLE ACTIVITIF 2025 2024 Aaivily c14l1ca1 Musir Pmmiion CIL%sitral Music PrO[l10n Classical Music Pmrmiion Ev¢nig Tickei sales Adv¢rti8itt8 fj.760 24,754 730 36.389 1.050 37,439 31.264 SUPPORT COSTS Governonc¢ costs M&nA&ement 'lotals I1¢*] Musir Promotion 74.362 1.800 76.162 TRUSTEES, REMUNERA TION AND BENKFITS ThcTC were no tyu51¢¢5' Ttmuneraiion or other b¢Kfits for Ihc year ¢nd¢d 30th March 2025 nor for lh¢ year ended 30th m¢b 2024. Tr¥xttti' expenses Th¢r¢ weff no Iru51Ce5' ¢xpenw paid for th¢ year ended 30th Murh 2025 nor for the year end¢d 30th March 2024. TArnGIiILTr: F'IXLD ASSETS Plani dnd mttLhinery COST Ai J151 March 2024 Addition% 26,504 Iw.000 At.30ih March 2025 126,504 DEPRECIAT10Tr4 Ai 3 Isl March 20?4 Ch4r8e for ye 7.359 2.875 At 30th March 2025 10,234 NF,T BOOK V.4LUE AI 30th March 2025 116,270 A¢ 30th M8r£h 2024 19.145 During the vear LWQ pianos wue purchth at a c05t of £1¢XI,0. The5c will b¢ revalued evcry five ye8r5 to drt¢rmine if By deprecialion is n¢ccSSy. Page 7
Ab5olyte CIssic5 SCIO to the Finin ill Sta ontinu or thc I'er End Oth If*rth 20ZS cments- CRKDITORS: AMOUNTS WALLING DUE WITIIIP4 ONL YFAR 2025 2024 Trade creditor5 Imhcr ¢reditors 1.641 1.680 2.050 3,321 2.050 MOVEMENT IN FUNDS Transfers betw¢ funds At 31.3.24 At 30.3.25 in fijnds Unrtttritttd fuDd$ l-tencral Pund 552(Kl 100.000 137.569 Rtjtritttd funds HolNwood'l'rusi fund l) & (i R¢gional Projeci Fund Annual Cos)¢crt Fund Educaijon l>mju¢¢ Cspiral Purch&8c 17.370 9.616 9.481 17,370 19,616} 4,663 I.(1)0 14,144 (ILMb.(X)O) 36.582 94.932 (100.0001 31,514 T()TAL FUNDS 91.782 77,301 169.083. Nei Tnovement in fund% Includ ir. the 4bo¥¢ are as follows.. Intt)minB ttsourccs Rc50ur¢es ¢xpendcd Mov¢ML1 in fund& Uarestrlc¢ed funds Cjcneral Fu>)d 52.231 169,8621 117,631) Restriettd funds Ilolywoud Tru FuDd Annual CoDi¢n l.und Cducoiion Proju¢¢i$ YMI Initiaiivc Capithl Pur¢haqe 8,920 57.329 19,035 166.945) 16.727 (7.000) 19.616) 4,663 7,000 184.639 189,7071 94.932 I'OTAI, FtiYDS 236.870 1159,5691 Tl,301 PJg¢
bltr Classi to the Fi for the Yt taterntrtts- th Mir ontin r Endtd MOVEMEYT IN FLtNDS- ¢ontlhucd CompArativu for mo¥tmtnt in funds Ai 31.3.23 veJnenl i# futtds Ai 30.3.24 Uir¢tricted funds GenEr Fund 48.182 7.018 55.2110 liestritltd fundj Holym'ood Trusi Fund D & G R¢gional Proi¢¢t Fund Annual Conccrt Fund Education Projuects 6.510 17.370 40.543 16.3951 17,370 Y.616 9.481 130,9271 9,481 64.423 127,841} 36,582 TOTAI, FUNDS 12.605 120.8231 91,782 C¢Jinparaiive nel movcm¢ni in furtd& included in the llbo ar¢ As follow3.' ItKomin8 reg)urces R¢sour¢es expcnded Mov¢ment in fund% Vnrtstritted fyndi Gen¢rul Fund 46.884 {39.8661 7,018 RestTirl¢d Ilolyvdood'fru51 Fund Annual Conccrt l.und Lducaiion Projuc¢ts 8.920 40.251 10.905 115,3131 (71,1781 16,3951 {30,9271 9,481 60.076 187.9171 127.8411 TOTAL FLNDS 106.960 1127.783 120,8231 Cipitl Purehlie Fund - as thE wiiil purchfys¢ fund was fully speni on reslTiokd prySe5 in the year, th¢ fund was Iransleyred lo thc gcn¢rBI fvnd. lIly0¥d TruJt- Ihi5 Trstrick grant fuods a key Yole in thc orgaDiwion.' EdiACal)ll coordinar. helping iowarits y()uth D&G Coun¢ll Reglon•l Projtrts- Ihis resvicied grani funds OwedUJ0n work. Contert Fllnd- funding rccciv¢d for th¢ prnvision of our annual fc5tival and the seri ofmonthly ¢on¢¢rns. RELATED PARTY DISCLOSURES There were no Tclaicd party trartI$ forthe year eth 30ih Mh 2025. Page 9
Absolute Clssi¢s SCIO Stitme i1 Aetivitst5 for tht Y ar Endcd JOtlI M b 2025 Dxn 2023 2024 INCOME AND EliDOWMEYTS Don•tiolls #d le%ties l)onalions Gift aid Gran 25.435 2.176 166.020 26.426 3.145 42.625 193.ti31 72,196 Otbtr tr#dine itlivities Spinsor%hip5 5,8(X 3,500 Chirilblt M¢¢ivi¢i '.%eni Tickct sales Advertisin8 5.760 24.754 750 36.389 1.030 37.439 31,264 Tolil incoming resourt 236,870 106,960 EXPLNDITURE Chirltiblt •rilvld Artiy f¢L'S Artist occommodaiion Inmrumeni & music hire Vcnuc cos¢$ Lonccrt dclivery and programme Costs Plonl and machincry 57.212 2.830 1,899 11.096 7,495 2.875 2,540 1,304 9,593 3.385 83.407 55.037 .Suppori Ixnggemtit l>rvfc55ional fe JnsuranL¢ Advcrtising & stalio Bonk charg¢5 68.405 587 5,049 65.414 291 5,13Y 202 74.362 71.066 Gowtrnnce toits Accounlaiicy Ind¢pcnd¢nl ¢x4minerf$ fee 960 840 90 780 1.8 1,680 Tothl r¢sDufc¢5 ¢xpended 159.569 127,783 N¢t l*comtllexpendit¥rel 77.301 {20,8231 This py does forn partof t $tarnry financi yxtemeDts P4¢ 10