REGISTERED CHARrrY NUMBER: SC049113 rt of Ihe Trustees and Unaudited Financial StsleTh£nts for the Year Ended 31 March 2025 Cufture Histo & Arts Assemb Ar 11 & Isles CHARTS A Scottish Charitable Incor rated Or nisation
CHARTS Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet 5 to 6 Notes to the Financial Statements 7 to 14 Detailed Slatemenl of Financial Ath'vities 15
CHARTS Re ort of Ihe Trustees for the Year Ended 31 March 2025 The Trustees are pleased lo present their annual financial report al(mgside a separate annual project report for the year ending 31 March 2025, prepared to meet the requirements for a Truslees, report and accounts for OSCR purFoses. This report is supported by Ihe Annual Review 2024-2025 huh11gh.ng achievements and partnership across the period: w h s:IIMvw.chartsar 1landisles.or Imedia183151charts- annual-review-2025. Chalrperson Report l am happy to report that this, my first year as Chairofthe Board, was a year ofchange for CHARTS. but also of signifi(xnl growth. sto<xl down as Chairal the AGM in Seplembef, after leading the charity Sin its int in 2019 and her contributiL)n to founding the CHARTS model remains enorrTh)usly valued. stcx) wn in ril hawng consKlerably strengthened our financial planning and control systems, and stood down representing Gaelic support. Councillor was replad as ex officio trustee by council10rOll0Wlng a change in political conlro at Argyll and Bute Council. and the Board cnntinues to le1ve linked officer support from the council, through Senior Economic Development offir, TransfonnatM)nal Projects and RegeneratDn. ticjn The last AGPA s?N the appoinlrnent of four new trustees". All four of them, bringing complementary strengths to the Board. have hit the ground running and are helping to develop our (ltUre of purposefvl but SUPForlive adershIp. Since its creatK)n, CHARTS has attracted inward inveslment of nearly £1.5m into the cultural ecorK)my ofArgyll and Bute. This year, projects have been supForted by the Scottish Govemment. Bord na Gaidhlig, Foras na Gaeilge, Greenspao Scotland, Museums Galleries Scotland, Highlands and Islands EnÈrprise and the Art Fund. Academic relationships with t1 University of St Andrews and the University of Glasgow have also been strengthened. Most notsbly, in December. CHARTS was accepted by Creattve Scolland as a candidale for ils Multi- Year funding programme, expressly acknowledging the strategic irrwortance of the organisation to Argyll and Bute. Our w(xk is made possible by Ihe continued financial support of Argyll and Bute Council. whith contributes to essentHI staff and delivery costs. Across recent years, we have strengthened our parthership wrth the council through laking over the management of the Ar11 Colleclion. notable group of arlworks (Including well-known Scottish and Ugandan artists) which forms a key educatiiMal resour lo schools throughout Argyll. Additionally. through our partnership with liveArgyll that began in 2022, we have supported the care and developrrenl of the counal's sole museum, bcated in Campbellown. Through this partnership we also look forward lo increasing close working with Kilmartin Museum, supFrf)rting its responsibility to liVeArlI foi the Campbeltown Museum archaeology collectDn. The role of CHARTS, to develop specialist stafl teams through securing extemal investment, has been fundamental to all successes, including that attributed to the Argyll CollectK)n and the counal having Campbeltown Museum upgraded in status lo a fuly accredited nationally Recognised Collection. Our work wth members includes one-t04)ne and organisational support and we ntinUe to create new opportunities and work in the region. Page 1
All this is m8de possible only through the determination and relentless hard work of our staff and freelancers, brilliantly led by r tireless Executive Director, Under her direction, we now have a fNe-year Business Plan which maps oul our aspiiaiK)ns and arnbitions for the next pericKJ. Seymour Adams Chair of the Board OBJECTIVES AND ACTivrriES Objectlves and alms The organisation's purposes are the advanment of arts. heritage and culture within Argyll and Bute through deVelong rJJltural and herilage practitioners and organisations by working cooperatively and in partnership wilh olhers; developing and ub'lising effedive communicalK)n across geographic and sectoral boundaries: cooperatively growing our audiences and customers by marketing ourselves and others locally. nationally and internationally: developing and delivering partnership projects that will excite, educate and entertain our communities and our visitors., and accessing and sharing iesources and training in order lo bring culture and trrItage to a wider audience. FINANCIAL REVIEW Going Concern Measures were taken to improve the financial position of the tharty, whith had been impacted by some projects exceeding original budget in the year and grants being paid later than expected. Successful funding bids in particular from Argyll and Bute Council (£75,000) and the Creative Scotland Development Fund, (£76,000) (25r261, have now assisted to improve prospects and the charity continues to seek funding for ils programtnes of activrties and remains active in preparing bids. Robust fjnancial procedures and prosseS have been put in pla and the slim workforce has begun to be strengthened according to the new business plan {25128). to ensure it achieves best value through achieving a high standat(l of efficien. effectiveness and e(x)nomy. STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming document CHAR Ts is a registered SCIO ISC049113). The charity is govemed by its goveming d0Ment, the Articles of Associalion. Decision making The CHARTS Board meets quarterly and mre often rf required. Several sub-groups are in place to support developrrEnt oflhe charty. These include a financi4 and risk management sub-cornmittee. a heritage sub-O)mmittee. project working groups and a Steering Group supporting members at local level. The Board is responsible for holding regular meetings, and general controls the activilEs of the organisatK>n: for exanwle. the board is responsible for monitoring and controlling the fjnancial position of the organisat'on. Induction and training of newtrustees Trustees of the charity are appointed by maprity vote after being proposed by another member of the Board. New board members go through an induction process where they are tntr(KJud to the slaff. talk Ihrough the corporate systems and Ihe role and responsibiliti'es of the board are made clear. Steerlng Group and member support CHARTS is a membership organisation with over 600 members (individuals and organisations) Member support included via a Steering Group 24125 and rrernbers at local level assisling with research and project development in both arts and heritage fElds. The organisation's support includes lo assist individual members and organisat'ons to secure lunding for their own inilialives, building cultural czpacity across Argyll and Bute. Page 2
CHARTS Re rt of the Trustees for the Year Ended 31 March 2025 REFERENCEAND ADMINISTRATIVE DEfAILS Reglstered Charlty number SC049113 Reglstered offlce 120 George Street Ground Floor Oban Argyll PA34 5NT Trustees ecretary Independent Examiner Mackay & Co CA 120 George Slreet Oban Argyll PA34 5NT Approved by order of the board of Irustees on 19th SeptemtrRr 2025 and signed on rts behalf by: Page 3
Inde endent Examinerfs R ort lo the Truslees of CHARTS Independent examlnerfs report to the trustees of CHARTS ('the Company) I report on the accounts for the year ended 31 March 2025 set out on pages fwe to fourteen. Respectlve responslbllttles of trustees and examlner The charity's trUStS are responsible for the preparats'on of the accounts in accordance with the temis of the Charities and Trustee Investment (Scotland) Ad 2005 and the Charities Accounts (Scotland) Regulations 2006 (as anded). The tharity's trustees consider that the audit requirement of Regulation 1011){a) to (c) of Accounts Regulations does not apply. It is my responsibility lo examine the accounts as required under Section 44(1)(c) of the Act and to slate whether parts'cular matters have come to my attention. Basls of the Independent examlnef s reFQrt My examination was carrEd out in accordan with Regulation 11 of the Charities Accounts (Scotland) Regulat'ons 2006. An examination Includes a review of the accounting records kept by the charity and a companson of the accounts presented wrth those records. It also Includes consKJer'on of any unus1 rtems or disclosures in the accounts and seeking explanats.ons from you as twstees u)nceming any such matters. The procedures undertaken do not provide all the evK1ence thai would be required in an audrt, and InseqUentty I do not express an audit opinion on the view given by the aco)unts. Independent exarnlnerfs statement In connection Wilh my examinatn. no matter has ffle to my attenn. - whith gives tne reas)nabSe cause lo believe that, in any rnalerial respecl, the requiretTEnts.' - to keep accounting rerdS in acoJrdance with Section 44(1)(a) of the 2005 Act and ReguEation 4 of the 2006 Accounts Regulalions; and - to prepaTe accounts which accord wilh the accountirvJ records and to Gorrpty with Regulalion 8 of the 2006 Accounts Regulat?ns have not been met. or - to which, in my opinion, attention should be drawn in order to enable a proper understanding of the acc¥)unts to be reached. Mackay & Co CA 120 George Street Oban Argyll PA34 5NT Date.. Iq 201£ . Page 4
CHARTS Slatement of Financial Activities for the Year Ended 31 March 2025 31.3.25 Total fvnds 31.3.24 Totsl funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and gaCleS 5.711 5.711 Charltsble actlvftles PrOMotn of Culture. Arts & Heritage Total EXPENDITURE ON Charitable activities Promotion of Culture. Arts & Heritage 273 033 424 016 NEf INCOMEIIEXPENDrruRE> Transfers between funds 901 (95,843) (94,942) (57,626) Net movement In funds (27,998) (66.944) (94.942) (57.626) RECONCILIATION OF FUNDS Total funds brought forward 78,896 78,896 136.522 TOTAL FUNDS CARRIED FORWARD The notes fonn part of these financial statements Page 5
CHARTS Balan Sheet 31 March 2025 31.3.25 Total funds 31 .3.24 Total funds Unrestrthd Restricted fijnds nds Notes FIXED ASSErs Tangible assets CURRENT ASSETS Debtors Cash at bank 7,884 53 7.884 1,018 7,937 11.952 19,889 83,222 CREDITORS Amounts falling due within one year (36.419) {36,419) (4,326) NET CURREMt ASSEtSllLIABILITIES) TOTALASSEtS LESS CURRENT LIABILITIES (27,998) 11,952 (16,046) 78,896 NET ASS8 FUNDS Unrestricted fvrs Restricted funds 11 (27,998) TOTAL FUNDS The financial statements were approved by the Board of Trustees and authori*d for issue on Ih .19 Septernber 2025 and were signed on rts behaff ty: The noles fom part of these financial ststements Page 6
CHARTS Notes to the Financial Statements for the Year Ended 31 March 2025 CHARrrY INFORMATION The charity is registered as a SCIO (Scottish Charitable Incorporated Organisation) and as a registered charity with Office of the Scottish Charity Regulator {OSCR}. ACCOUNTING POLICIES Basis of preparing the financlal ststements The finanaal ststements have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Slatemenl of Recommended Practice applicable to charitEs preparing their accounts in accordan with the Financial Reporting Standard applicxble in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. The financial statements have been prepared under the historical st convents'on. The charity is a Public Benefit Entity as defined by FRS102. Income All income is recognised in the Statement of Financial Activities On the chartty has entitlement to the funds, it is probable that the inrne will be received, and the amount can be measured reliably. Expendlture Liabilities are reo)gnised as expenditure as sn as there is a legal or constructive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Idvhere costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis nSIstent with the use of reSoUrs. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lrfe. Taxation The charity is exempt from corporation tax on rts charitsble activities. Fund accounting Unrestricted funds can be used in accordance with the charitsble objectives at the discrelion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charty. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 7 continued...
CHARTS Notes to the Financial Statements - continued for the Year Ended 31 March 2025 INCOME FROM CHARITABLE ACTMTIES 31.3.25 31.3.24 Activlty Promotion of Culture, Arts & Heritage Grants Grants reived, induded in the above. are as follows.. 31.3.25 31.3.24 Argyll and Bute Council Bord Na Gaidhlig Creative Scotland Glasgow School of Art Live Argyll Greenspace S(x>tsnd National Heritage Lottery FuThJ Scottish Govemment TSI Art Fund Foras Na Gaeilge The Gannochy Trust William Syson The Lennox Hannay Trust National Art Collection Engage Hands up for Traj Kilpatrick Fraser PF Charitable Trust Visrt Scotland 109,896 24.757 79,750 7,350 26,964 2.500 19,949 95,000 37,655 35,000 1,578 42,894 7,000 10,000 1,250 2,000 10,000 4.190 4.375 8,153 4,100 493 1,316 2,000 6(X) NEf INCOMEI(EXPENDrruRE) Nel incomel(expenditure) is stated after chargingl(crediting): 31.3.25 31.3.24 Depreciation - owned assets Page 8 continued...
CHARTS Notes to the Financial Statements - continued for the Year Ended 31 March 2025 TRUSTEES. REMUNERATION AND 8ENEFrrs There were no trustees, remuneration or other beneffts for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses 31.3.25 31.3.24 Trustees, expenses COMPARATIVES FOR THE sTATEmEr OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total fijnds INCOME AND ENDOWMENTS FROM Charitable activities Promots'on of Culture, Arts & Heritage 363 140 366 390 EXPENDITURE ON Charitable activities Promotion of Culture, Arts & HerFtage 424 016 424 016 NET INCOMEI{EXPENDrruRE) Transfers between funds 3.250 (60,876) (57,626) Net movement in funds (57,626) (57,626) RECONCILIATION OF FUNDS Totsl funds brought forward 136.522 136,522 TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSErs Computer equipment COST Addilions 792 DEPRECIATION Charge for year 308 NET BOOK VALUE At 31 March 2025 At 31 March 2024 Page 9 continued...
CHARTS Notes to the FinancAal Statements- continued for the Year Ended 31 March 2025 DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.3.25 31.3.24 Trade debtors Other debtors Prepayments and accrued incoff 7,028 1.018 856 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Bank loans and overdrafts (see note 10) Trade creditors Accrued expenses 11,731 19,963 876 10. LOANS An analysis of the maturity of loans is given bekm: 31.3.25 31.3.24 Amounts falling due within one year on demand: Bank overdrafts Page 10 continued...
CHARTS Notes to the Financial Statements - continued for the Year Ended 31 March 2025 11. MOVEMENT IN FUNDS Net movement in funds Transfers bebNeen funds At 31.3.25 At 1.4.24 Unrestrlcted funds General fund ABC - Operations 659 242 (21,250) (20,591) 901 {28,899) {27,998) Restrlcted funds A&B Council - VACMA Project Bord Na Gaidhlig - Colmcille Prize 2.000 (571) 2.000 571 Creative Scotland - Evolve Bord Na Gaidhlig - Gaelic Development Live Argyll - Museums ABC - Operations - Restricted (12,500} 12,500 10,382 (7,790) (2.768) (1,246) 3,040 9.136 4,750 2,768 Heritage Lottery Art Fund FnG - Gaelic Development Greenspace Scotland Kilpatrick Fraser (5,846) 26,690 3.053 54,604 4,190 (33,915) (3,053) {54,604) 816 1,656 7,225 816 TOTAL FUNDS Page 11 continued...
CHARTS Notes to the Finanaal StaterrEnts- continued for the Year Ended 31 March 2025 11. MOVEMENT IN FUNDS - contlnued Net moverrent in funds. induded in the above are as follows: Incoming reSoUrS ReSoUrS Movement expended in funds Unrestricted funds General fund ABC - Operab'ons 2,500 (1,841) 569 242 83,211 (82,310) 901 Restrlcted funds A&B Council - VACMA Propcl Bord Na Gaidhlig - Colmcille Prize 9,000 21,607 (7.000) (22.178) 2,000 (571) Glasgow School of Art - Innovation School Creative Scolland - Evolve Bord Na GaKlhlig- Gaelic Development Live Argyll - Museums Argyll & Isles Tourism C( (2,000) (12.500) (12,500) 3,150 21,594 6(X) {4,396) (18,554) (600) {1,246) 3,040 Heritsge Lottery Art Fund FnG - G*lic Devek)pment Greenspace Scolland Collection Valuabon Engage Hands up for Trad Kilpatrick Fraser 4,190 8.153 4,375 10,OCKI 4,302 4,100 493 4,190 (33,915) (3,053) (54,604) (42,068) (7,428) (64,604) (4,302) (4,100) (493) 500 816 190 723 TOTAL FUNDS Page 12 continued...
CHARTS Notes to the Financial Statements- continued for the Year Ended 31 March 2025 11. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds Transfers belween funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 3.250 (3,250) Restricted funds Bord Na Gaidhlig - Colmcille Pri Bord Na Gaidhlig- Gaelic Development Live Argyll - Museums ABC - Operations- Restricted Creative Scotland - Coastal Cufture Islands Open Fund Creative Scolland - Growing Global Networks Heritage Lottery Scottish Govemment Art Fund FnG - Gaelic DevekjpnI Rerr£mbering Together Gannochy Trust Greenspace S(x>Uand 6.650 (6.079) 571 26.448 2.909 (709) {16,066) (9,140) (27,006) 10,382 (7,790) (2,768) (1,559) 24,947 49,172 (48,555) {617) 20,093 17,126 14,833 (20,093) (28,824) (15.450) 29,690 4.803 95,000 9,440 5,852 617 (3,000) (1 ,750) {5,846) 26,690 3.053 95,000 (9,440) TOTAL FUNDS Page 13 continued...
CHARTS Notes to the Financial Stateents- continued for the Year Ended 31 March 2025 11. MOVEMENT IN FUNDS - contlnued Comparative net movement in fvnds. included in the above are as follows: Incoming Resources Movement reSoUrS expended in funds Unrestrfcted fvnds General fund 3,250 3,250 Restrlcted funds A&B Council - VACMA Project Bord Na Gaidhlig - Colmcille Prize Bord Na Gaidhlig - Gaelic Development Live Argyll - Museums ABC - Operations - Restricted Creative Scotland - Coastal Culture Islands Open Fund Creative Scotland - Growing Gbbal Networks Heritage Lottery Scottish Govemment TSI CU30 Development Art Fund FnG - Gaelic Devek)pment Remembering Together Gannochy Trust Greenspace S(x)tland 4,750 2.100 (4,750) (8,179} (6,079) 5.250 19,949 75,000 (21.316} (29,089) (102,006) (16,066) (9,140) (27,006) 18.857 (67,412) (48,555) 8,107 37.655 35,000 1 ,578 42,894 7,000 95,000 10,000 (28.200) (66,479) (50,450) (1,578) (13.204) (2,197) (20,093) (28,824) (15,450) 29,690 4,803 95,000 9,440 (560) 424 016 TOTAL FUNDS The purposes of the fvnds are described in the Trustees. Report. 12. RELATED PARTY DISCLOSURES There were no relaled paty transactions for the year ended 31 March 2025. Page 14
CHARTS Detailed Statement of Financial Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Donatlons and legacles Donations 5.711 Charitable activltles Grants 172 380 366 390 Totsl Incomlng resources 178,091 366,390 EXPENDITURE Charltsble actlvftles Trustees, expenses Wages Advertising Programme fees Freelance professional fees Admin & overheads Travel & meeting costs 573 115,847 155 121,831 13,488 7,195 130 153.383 4,534 210,489 35,931 11,766 269,800 422,684 Support ¢o$ts F5nance Bank charges 30 Governance costs Accountancy and legal fees Total reSoUrS expended 273 033 424 016 Net expendlture This page does not form part of the statutory financial statements Page 15