**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
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Pages 4–9 ................................................................. Report of the Trustees and Management Committee Pages 10–11 .......................................................................................... Independent Examiner’s Report Page 12 .................................................................................................... Receipts and Payments Account Page 13................................................................................................................... Statement of Balances Pages 14–15 ........................................................................................... Notes to the Financial Statements Pages 16 .............................................................................................. Analysis of Receipts and Payments
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
The trustees present their report and unaudited financial statements for the period ended 31 December 2023.
## **REFERENCE & ADMINISTRATIVE INFORMATION:**
CHARITY NAME: Museum of Islay Life/Taigh-tasgaidh Muinntir Ìle CHARITY REGISTRATION: SC048723
CHARITY ADDRESS: Museum of Islay Life Daal Terrace
Port Charlotte Isle of Islay PA48 7UA
## **TRUSTEES:**
## **BANKERS:**
Unity Trust Bank 9 Brindleyplace Birmingham B1 2HB
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS**
## **For year ended 31 December 2024 Charity No SC048723**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Museum of Islay Life/Taigh-tasgaidh Muinntir ile was constituted as a Scottish Charitable Incorporated Organisation {SCIO} on 25th September 2018. It is governed by a constitution agreed by OSCR, the Scottish Charity Regulator.
This SCIO was set up to replace the Islay Museums Trust, SC011725, which will be wound up with all assets and liabilities transferring to the Museum of Islay Life/Taigh-tasgaidh Muinntir lie, SC048723.
On 30th October 2018, the trustees of Islay Museums Trust, SC011725, agreed that the running of the Museum, all items assessed into the collection or on loan, and all bank accounts and assets, be transferred to the Museum of Islay Life/Taigh-tasgaidh Muinntir lie, SC048723, on the night of the 31st October and 1st November 2018.
The trustees, of which there is a minimum of five and a maximum of 15, are responsible for the charity's governance, setting policy and are ultimately accountable for the charity's financial and other affairs. The manager, on delegated authority from the trustees, manages on a day-to-day basis the charity's affairs and is accountable to the trustees.
## **RECRUITMENT & APPOINTMENT OF TRUSTEES**
Up to eight trustees shall be elected by and from amongst the members at Annual General Meetings, with the exact number so elected being sufficient to ensure that this group of trustees represents the minimum number necessary to constitute a voting majority within the trustees as a whole. One third of the trustees elected under this section shall retire each year, but shall not then be disbarred from re-election.
Up to six trustees may be appointed by the other trustees in office from time to time, generally on the basis that each such individual will be able to contribute specialist knowledge or experience relevant to the Museum's governance. Each trustee appointed under this section shall serve for three years, but shall not then be disbarred from reappointment.
The manager shall serve as a trustee as an integral part of his/her appointment.
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
## **TRUSTEE INDUCTION & TRAINING**
Most new trustees are familiar with the practical work of the charity through living within the local community. It is ensured that, if required, new trustees receive the necessary familiarisation.
## **RISK MANAGEMENT**
The trustees remain confident but not complacent with regard to the current risk management strategy.
## **ORGANISATION'S PRINCIPAL OBJECTIVES & ACTIVITIES**
The charity's purposes are to advance education, heritage and culture through:
- the operation of the Museum of Islay Life as a museum illustrative of life in Islay from prehistoric to recent times;
- the preservation and conservation of the Museum of Islay Life Collection;
- the protection of the collection from deterioration, damage, loss, accidental destruction· or unauthorised disposal, and with there being a strong presumption against the disposal of any item;
- collaboration with other projects and charities on Islay and Jura, and across Scotland, where beneficial to the charity.
The charity will also endeavour to act as a social enterprise working to support both the community and economic development within Argyll through the pursuit of its charitable purposes.
## **ACHIEVEMENTS AND PERFORMANCES**
2024 was not an easy year though the negative effects of Covid have largely passed, but the ongoing effect on the number of visitors of the ongoing problems with Caledonian MacBrayne's ageing ferry fleet remained a problem for all the tourist enterprises on the island, leading to visitors unable or unwilling to travel,
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
Despite this, the Museum held up well with admission numbers for 2024 recorded as 3,470, a slight and very welcome increase on 2023's 3,351. However, the Museum recorded a deficit of £16,024 largely due to the start of the several projects outlined in last year’s report and having to be paid for ahead of a number of grants which had been successfully applied for arriving.
The Trust was also successful in a number of grant applications from MGS {Museums Galleries Scotland, and installation of 32 UV panels on the Museum's SW-facing roof, plus two storage batteries, and two new air source heat pumps began as the year ended and will be completed in early 2005, while by far the largest project, extending the mezzanine floor to provide much needed office and storage space will also commence in early 2005. This will also include the installation new insulation in the Museum's lofts.
The Trust's WW100 project, the installation of 8–10 information boards at historically important sites across the island, has also show good progress with 4 boards now in place.
## **·MAIN OBJECTIVES FOR 2025**
- Carrying out the extension of the Mezzanine floor.
- The consolidation of the Museum's finances and structure following the above economic hardships and continued uncertainty.
- The installation of new roof insulation throughout the entirety of the Museum.
- The replacement of the wooden fire exit door at the NE side of the Museum with a uPVC door.
- The erection of the remaining information boards throughout the island.
- Continued cooperation with the local schools and Islay Heritage, the local archaeological society run by Prof. Steven Mithen of the University of Reading. The latter will focus on a new display by Prof. Mithen and his students' recent work at Olistadh, some 2 km west of Port Charlotte, which has been discovered to be a more extensive township than previously thought.
- Continued enhancement of the Museum’s displays.
- Continued improvements in the Museum’s inventory.
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
## **FINANCIAL REVIEW**
The Museum showed a deficit of £16,024 (2023 £2,779 surplus for the year. Total funds at the end of 2024 were £57,813 (2023 £73,837), of which 26,396 (2023 £26,615) is restricted and £31,417 (2023 £47,222) is unrestricted, of which 18,633 (2023 34,961) has been designated.
The restricted funds relate to the WWlO0 Legacy Fund, and are to be spent on enhancing historical information across the island and ensuring that all schoolchildren and accompanying staff can access the Museum, historic sites, exhibitions and presentations throughout the island on a regular basis.
## **PRINCIPAL FUNDING**
Principal source of funds during the year came from admission fees for entry to the Museum, and a minor component from shop sales. In addition, grants have been awarded, but not yet claimed, from Museum Galleries Scotland and the All Islay Ardbeg fund. In addition, crowd-funding provided useful funds.
## **RESERVE POLICY**
The trustees' policy is to retain six months' worth of normal running costs in order to meet commitments and to cover any unexpected expenditure. A year's expenditure is c. £20,000 and the Museum's current reserves (excluding the legacy) are (2023 £12,784). The trustees are continually looking at ways to replenish the reserves to cover these running costs and safeguard the future of the Museum.
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
## **INVESTMENT POLICY**
The trustees have considered the most appropriate policy for investing funds and have found that short to medium term investment of funds should be held in current and deposit bank accounts.
## **RESPONSIBILITIES OF THE TRUSTEES**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustees Investment (Scotland} Act 2005. The charity trustees consider that the audit requirement of section 10 {1} (d} of the Accounts Regulations does not apply.
On behalf of the trustees:
Signed:
Date: 14[th] December 2025
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MUSEUM OF ISLAY LIFE
TAIGH-TASGAIDH MUINNTIR ILE
REPORT OF THE TRUSTEES
AND FINANCIAL STATEMEKrs
For year ended 31 December 2024
Charity No SC048723
EXAMINER'S REPORT
The charity's trustees are responsible for the preparation of the accounts in accordance with the
terms of the Charities and Trustee Investment Iscodandl 2005 Act and the Charities Accounts
(Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation
10{11 Id) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts
as required under section 44{1 } Ic) of the Act and to state whether particular matters have come to
my attention.
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland)
Regulations 2006. An examination includes a review of the accounting records kept by the charity and
omparison of the accounts presented with those records. It also includes consideration of any unusual
items or disclosures in the accounts and seeks explanations from the tNstees conceming any such
matters. The procedures undertaken do not provide all the evidence that would be required in an
audit and, consequently. I do not express an audit opinion on the accounts.
In the course of my examination, no matter has come to my attention
1. which gives me reasonable eause to believe that in any material respeet the requirements..
to keep accounting records in accordance with section 44(1 } (a) of the 2005 Act and Regulation 4 of
the 2006 Accounts Regulations. and
to prepare accounts whieh accord with the accounting records and Comply with Regulation 9 of the
2006 Accounts Regulations
have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of
the accounts to be reached.
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS**
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
## **Museum of Islay Life / Taigh-tasgaidh Muinntir Ile Receipts and Payments Account For the year ended 31 December 2024**
|**Receipts**
Donations
Grants
Receipts from Fundraising Activities
Receipts from Charitable Activities
Receipts from Trading Activities
Income from Investments
**Payments**
Grants and Donations
Expenses from Fundraising Activities
Expenses relating to Trading Activities
Payments directly relating to Charitable Activities
Governance
Fixed Assets
**Net Surplus/Deficit**
Transfer
**Net Surplus/Deficit**|**2024**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**
9,513
0
3,000
0
3,048
0
19,312
0
66
0
910
0|**Total Funds**
**£**
9,513
3,000
3,048
19,312
66
910
35,849
0
0
1,513
49,781
360
0
51,873
**-16,024**
0
**-16,024**|**2023**
**Total Funds**
**£**
13,044
9,698
11,726
13,856
3,887
1,1,90|
|---|---|---|---|
||35,849
0||53,402
557
0
1,317
48,614
133
0|
||0
0
0
0
1,513
0
49,781
219
360
0
0
0|||
||51,654
219||50,622
**2,779**
0|
||**-15,805**
**-219**
0
0|||
||**-15,805**
**-219**||**2,779**|
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
## **Museum of Islay Life / Taigh-tasgaidh Muinntir Ile Statement of Balances**
## **As at 31 December 2024**
|**Cash Funds**
Opening Bank Balance
Surplus/Deficit for Year
Closing Bank Balance|**2024**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**Total Funds**
**£**
**£**
**£**
47,222
26,615
73,837
-15,805
-219
-16,024
**31,417**
**26,396**
**57,813**|**2023**
**Total Funds**
**£**
71,057
2,779|
|---|---|---|
|||**73,837**|
## **Museum of Islay Life / Taigh-tasgaidh Muinntir Ile Statement of Balances As at 31 December 2024**
|**Cash Funds**
Opening Bank Balance
Surplus/Deficit for Year
Closing Bank Balance|**2024**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**Total Funds**
**£**
**£**
**£**
47,222
26,615
73,837
-15,805
-219
-16,024
**31,417**
**26,396**
**57,813**|**2023**
**Total Funds**
**£**
71,057
2,779|
|---|---|---|
|||**73,837**|
Date: 14[th] December 2025
On behalf of the trustees
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
## **Museum of Islay Life / Taigh-tasgaidh Muinntir Ile Notes to the Accounts For the year ended 31 December 2024**
## **1 Nature and Purpose of Funds**
|Unrestricted Funds
Designated Funds
Restricted Funds||**2024**
**£**
12,784
18,633
26,396
**57,813**|**2023**
**£**
12,261
34,961
26,615|
|---|---|---|---|
||||**73,837**|
## **2 Trustees Renumeration**
No remuneration was paid to charity trustees during the year.
## **3 Trustee Expenses**
No trustees were paid expenses during the year.
## **4 Transactions with Trustees and Connected Persons**
The following trustees and connected persons were reimbursed for purchases made on behalf of the organisation or, in the case of , as a donation.
|(manager)
**2024**
**£**
300
(desk staff)
0
(trustee)
0
**300**|**2023**
**£**
1,427
230
5,000
**6,657**|
|---|---|
## **5 Grants and Donations Paid Out**
Nil.
## **6 Fixed Assets**
The trustees have decided to show fixed assets at zero value.
## **7 Transfers**
Nil.
- **8** £100 of the Museum's unrestricted funds are held at the museum for transactions both during and outwith the regular season and are not listed here.
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**MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
## **Museum of Islay Life / Taigh-tasgaidh Muinntir Ile For the year ended 31 December 2024**
## **9 Restricted Funds**
|**Year to 31st December 2024**
**WW100 Legacy Fund**
Donations
Bank Charges
Bank Transfer
Information Panels Project
School Donations for travelling
Wages
WW100 Shop Sales - WW100 Legacy
**Grants**
_Capital Resilience Fund_
_(2023 unspent)_
**TOTAL RESTRICTED FUNDS**|**Opening**
**balance**
**Income**
**Expenditure**
16,917
0
0
0
0
0
0
0
0
0
0
0
0
0
219|**Transfer from**
**Unrestricted**
**Closing**
**Funds**
**Balance**
0
0
0
0
0
0
0|
|---|---|---|
||16,917
0
219|0
16,698|
||9,698
0
0||
||9,698
0
0|0
9,698|
||||
||**26,615**
**0**
**219**|**0**
**26,396**|
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## **MUSEUM OF ISLAY LIFE TAIGH-TASGAIDH MUINNTIR ILE REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS For year ended 31 December 2024 Charity No SC048723**
## **Museum of Islay Life / Taigh-tasgaidh Muinntir Ile Analysis of Receipts and Payments For the year ended 31 December 2024**
|**RECEIPTS**
**Donations**
General Donations
Designated Donations
**Grants**
Islay Energy Trust Fund
ABCAN
**Receipts from Fundraising Activities**
JustGiving Crowdfunding Campaign
Bruichladdich Open Day
**Receipts from Charitable Activities**
Admissions
Bank Transfer
Subscriptions
Gift Aid
Other (Reimbursement)
**Receipts from Trading Activities**
Shop Sales
**Investment Income**
Interest Received
**TOTAL RECEIPTS**|**2024**
**Unrestricted**
**Funds**
**Restricted Funds**
**£**
**£**
4,113
0
5,400
0|**Total Funds**
**£**
4,113
5,400
9,513
2,500
500
3,000
720
2,328
3,048
18,633
0
530
149
0
19,312
66
66
910
910
**35,849**|**2023**
**Total Funds**
**£**
1,894
11,150|
|---|---|---|---|
||9,513
0||13,044|
||2,500
500
0||9,698|
||3,000
0||9,698|
||720
0
2,328
0||9,763
1,962|
||3,048
0||11,726|
||18,633
0
0
0
530
0
149
0
0
0||13,081
674
525
181
28|
||19,312
0||14,489|
||66
0||3,887|
||66
0||3,887|
||910
0||558|
||910
0||558|
||**35,849**
**0**||**53,402**|
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