CHARITY REGISTRATION NUMBER.. SCO50362
Lochaber Music School SCIO
Unaudited Financial Statements
31 August 2024
R A CLEMENT ASSOCIATES CHARTERED ACCOUNTANTS
Chartered accounlanls
5 Argyll Square
Oban
Argyll
PA34 4AZ

Lochaber Music School SCIO
Financial Statements
Year ended 31 August 2024
Page
Trustees. annual report
Independent examiner's report to the trustees
Receipts & Payments Account
Statement of balan￿S
Notes to the financial statements
The following pages do not form part of the financial statements
Detailed statement of financial activities
14
Notes to the detailed statement of financial activities
15

Lochaber Music School SCIO
Trnstees. Annual Report
Year ended 31 August 2024
The trustees prèsenl their report and the unaudited financial slalements of the charity for the year ended
31 August 2024,
Reference and admini¥tTative detail$
Registered ch8rity ngrTle
Lochaber Music School SCIO
Charity règistration number
SC050362
Princlpal office
CIO Education Department Offices
Camaghael Hostel
Camaghael
Fort VVilSiam
PH33 7NE
The trustees
Independent ¥xamrner
l R A Cle-i@rl Astoc al&s
5 Arfjill Squar&
Oban
Argyll
PA34 4A2
Structure, governance and managèment
The ¢h8rty known as Loehaber Muslc Charitable TrL¢sI SC015312 was wound up and transferrèd all
assets to Lochsber Music School SCIO SC050362 on the 23-08-2020. Loch2bpr MJ%ic School SCIO
was established on the 31-07-2020 and the Iransler of assets was approved by the charity regulator
OSCR on the 03-09-2020. The closing reserves of Lochaber MusiG Charitable Trust of £34.883 as at
30-06- 2020 were transferred to the SCIO and lorrn part of Dtrter Income listed on pag& 5.

Lochaber Music School SCIO
Tru5tees' Annual Report Icontsryuedl
Year ended 31 August 2024
Obj•ctlves and activitlès
The organisation's chaiitable purposes are to advance musical educalion In Lochaber, prirnarily for
school and pre-school age children, supplementing that provided by the Highland CoL5ncil, and in
particular..
to provide rnusical instruction principally for stringed instruments includino the clarsach,
to provide aural and rhythmic Iraining in groups,
to promote group playing, charnber music anrj orchgstra.. fostering intef2gt in both Scollish traditional
and European mainstream music,
to give such other mbsical support and music therapy as may be requirèd to all age gTOUPS but with
special emphasis on school and pre-school agès.
Achievements and performancè
2023,'2024 has beon a year filled with q￿at success lor Lo¢haber Music School whi1c a150 experiencing
financial challenges. Tne school saw onrollment rates rise to over 130 students, new classes were
introduced. funding was secured for thè yÈAr and our ￿Ice-Year1Y concerts were a success Inr the
students. Mu51c Explorer c13sses for baby and loddler were reintroduced and were very successful afid
have CDntinued to be successful inlo 2024. We had high enrollment for Music Makers. Musie Makers
Choir 8nd Junior Choir. Wc did sec some loss In enrollmenl lo Junior and Senior Orcheslra. and Senior
Choir. However. thes8 issues seem lo be resolving ￿emselveS in Ihe 202412025 school term. We held
72 individual Instrumental lessons each we&k on piano, elarsach, tello. viola and violin as well as running
Music Explorers, Music Makers, Music Makers Choir. Junior Theory and Musicianship. Junior and
Senior Orchestra. Junior and Senior Choir, Chambe. Ensemble Trad Ensemble group classes.
We were very forlunale to se¢ure funds Ifom
1 £4.OC>OI and the Comrnunily
Regeneration Fund1£10.0001 in 202312024. Thio JlJCJ'l.'C- L-
-p J J=c.c oiur deficit significantly and run
a lull programmo of classes. However, at the 8nd ol the summer we were infomed that we WOU￿ not
be receiving funding rocsm Amati Global Investors this year as previously expected. This has created
sigrTrificanl challeng&s for Ihp upcoming school year whiGh the board is exploring.
Our school presentèd two concerts. one at Christmas, held at the Coal GommLJnity Centre and our
annual June end of year Goncert and Ceilidh held at Kilmallie Community Centre. 80th of these concerls
gen&ratÈd revenue, however. were lower than our usual figuiès du6 to not being able to hold a bake
sale al tho Christmas Concert and low attenL1ance at the Concert and Ceilidh. That aside. Ihe students
performe(I very well siirf were a testament to the work our teachers do al the school.
While it is dear that we have had some financial setbacks going inlo 202412025. the 202312024 LMS
s¢￿￿001 year was a clear musical succes5 due to the hard work of our teach8rs. parents and carers aThJ
supporters.
Flnancial revièw
Income of £56.65912023'. £50.5791 was received in the year. including £39,32412023.' £30,D81 Ifrot
lessons and fees fc)r thè year. Expenditur& or £65,37912023.' £58,287) was Tncurred In the year.

Lochaber Music School SCIO
Trustees. Annual Report IcDntlnued)
Year ended 31 August 2024
Trustees, responslbllltlès in rÈlation to the financial statements
The trustees are responsible for preparing rhe Trustees, Annual Report
Law applicablè to charities in Scotland requires the trusiees to prepare financial statèments lor each
financial year which give a true and fair view of the charity and of Iheincome and expenditure of the
charity for th81 year. In preparing these financial statements the trustees are required to..
-se￿e1 suitable accounting policies and then apply thew consistently.,
-obseFve the method5 and principles in the Charities SORP.,
-make judgètnants and 85timales that are reasonable an(1 prudent.,
-state whether applicable UK Accounting Standards h8ve been followed. subject to any rnalerial
departures disclosed and 8xpl8in8d in the fin8nci81 statemenls.. an
-prepare the financial statements on the going concern basis unless it Is in8ppropri3le to presume that
the charity will continue in oporalion.
rhe trustees are responsible lor keeping proper accounting records which di.sclose with rpasonable
accuracy al any timè the financial portion of the charity and enable them to ensure that the financial
statèmènts comply with the Charities and Trustee Invèstment (Scollandl Act 2005 and regulabL)n 8 of
the Charities Accounts (Scollandl Regulations ?006. They are also responsible for safeguarding the
ssets of the chBrify and henGe for tsking reasonable steps for the prevention and deleclion of Iraud
ènd other irrpqiil3rit.,es.
of R A Clement Associales was deemed to be appointed as independent
e>'.,?"I P,QT iJ-'c I'_c l."UilpTrs rocomtllend th8t Angus MacGillivray retllains In office until further notice.
The trustees, annual ￿port was approved on
trustees by..
signBd on behalf of the board of

Lochaber Music School SCIO
Independent Examiner's Report to the Trustees of Lochaber Music School
scio
Year ended 31 August 2024
I report to the trustèès on my examination ol thè finantyal statemen15 of Lothaber Music School SCIO
I'lhe charily'l for the year ended 31 August 2024.
Responsibilitie5 and basls of ￿port
As the trusteBS of the charity you are responsibSe for the pr8par8tion of the financial statements in
accordance with the rèquirements of the Charlties and Trustee Investment IScDllandl Act 2005 Ilhe
'2005 Acl'l and the CharitiÈg Accounts ISco113ndl Regulations 2006 las amendedl. You are satisfied
th21 your charity is not required by Gharily law to be audited 8r)d have chosen instead to have an
inuependenl examination.
I report In ￿sPeCt of my examination of the charity's financial st8tetnents as carried out under section
4411 Ilcl of the 2005 Act. In carrying oul tny examination I have followed the requirements of Regulation
11 of the Charities Accounts (Scollandl Regulations 2006 las amend8dl.
Independent examiner's staternent
Since the charity h85 prepared its accounts on an 8cGrua15 ba515 your examir,er must be a member of
body listed in Regulation 11121 ol the Charities Accounts Iscotlandl Regulations 200618s 8m8ndedl.
I con confirm that l am qualified lo undertake the eyamination because l atn a registered member of the
Associalion of CharterEd Ceriilied Accounlants which is one of the listed ix)die5.
I have complètèd my examination. I confirm that no maller5 have come lo my atlenlion giving rne cause
to believe that in any material respect..
Èc(x)untlng records werg iiot kèpt as required by section 4411llal ol the 2005 Act and
Regulation 4 of the Charities Aeeounts Iscotlandl Regulalions 200618s arnendedl," or
e financial statements do nDt accord with those recordg., tsr
the financial statements do not comply with the accounting requirements of Regul8lion 8 of
thè Charities Accounts Iscollalldl Regulations 200618s amended).
I h3I'e nu concerns 81id h%ve come across no othor matters In conneclion with the exarnination to which
attention should be dia'Nn In this report in order to enablè 8 proper understanding of the aKounis 10 be
| li M ￿l¥ll1￿liL
Independent Examiner
5 Argyll Square
Oban
Argyll
PA34 4AZ

Lochaber Music School SCIO
Receipts & Payments Account
Year ended 31 August 2024
2024
Unreslricled
funds Total funds
2023
Total fund5
Note
Incomè and &ndowrnents
Donations and legacies
Charitable activities
Other trading activities
Total income
17,276
39,324
59
17,276
39,324
59
20.177
30,081
321
56,659
56,659
50,579
Expenditure
Expenditure on charitable activities
Total expenditure
65,379
65,379
58,287
65,379
65,379
58.287
Nel expenditurè and net movement in funds
18,7201
18,720
17,7081
Rèconclllation of funds
Total funds brought forward
Total funds carrièd foNard
39,424
39,424
47,132
30,704
30,704
39,424
The statement of financial activities includes all gains and losses r8cognised in the year.
All income and exp&nditur& derive frorn continuing activities.
The notes on pages 7 10 12 ftsmi part of these fSnancial statements.

Lochaber Music School SCIO
Statement of balances
31 August 2024
2024
Bank Accounts
Opening bank balance
Receipts
Payments
39.424
56.659
165.379}
Closing bank balance
30.704
other Assèts
Trade debtOF5
Other debttsrs
3.329
1.000
Other Liabilities
Acciuals
PAYE
Pension
2,852
215
90
The
ènci31 stat&mÈnls were approved by the board of trustees and authorised for issuè tsn
1.4. and are signed bphall Df the board by."
Od
The notes on pages 7 to t2 form part of thes8 financial 8tatemonts.

Lochaber Music School SCIO
Notes to the Financial Statements
Year ended 31 August 2024
General information
The charity Is a public benefit entity and a registered charity In Sc(>tland and is unincorporated.
The address of the princip81 office is CIO Education Department Offices. Gamaghael Hostel
Offices, Camaghael. Fort Wi51iam, PH33 7NE.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement Of
Recommended Practice applicable to chzrities preparing their accounts in 8ccordan¢e with the
Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1 D21 Icharilies
SORP IFRS 10211 and the Charities and Trustee Investment Iscouandl Act 2005 and the Charity
Accounts ISco>tlandl Regu18tions 2006 las amended).
Accounting policies
Basis of prèparallon
The financial statements have been prepared on the historical oost b85is, as modified by the
rev2luation ol certain financial 855ets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial ststemefits are prepa￿d in slerling, which is the functional currency of the entity.
Going concern
Ther8 are no material uncertainties about thè charity's ability to continue.
Disclosure exemption5
The enlity satisfiès the criteria ol being a qualifying entity as defined in FRS 102. As such,
advantage has been laken ol the following disclosure exemptions available under p8ragraph 1.12
of FRS 102".
lal No cash flow statem8nt has been presented for the company.
Ibl Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires rnanagement to tll8ke judgements, estimales
and assurnptions that affect the amounts reported. These estimate5 and judgements are
continually reviewed and are based on experience and other factors. including expect3tiDns of
future events that are believed to be reasonable under the circumstsnces.

Lochaber Music School SCIO
Notes to the Financial Statements (continued)
Year ended 31 August 2024
Accounting policies Icotttlnued)
Fund accounting
Unr6stricted funds are available for use at thè discretion of the trustees to further any of thè
ch8rity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular ftjlure project or
commitment.
Restricted funds are subjected to restrictions on their expenditure deckred by the donor or through
the terms of an appeal, and fall into one of two sub-classès.. rèstrieted income funds or endowment
funds.
Income
All Income is included in the sl8lemenl ol f1n8ncial activities when entillernenl ha5 passed lo
charity. it is piobable that the economic benefits associated with the transaction will flow to the
charity and the amount Can be relièbly measured. The following specific policies are applied to
particular categories of incotne".
income from donations or grants is recognised when there is evidence of entitlement to the gift,
receipt is probable and its amount can be rneasured reliably.
legacy income Is recognised when receipt is probab18 and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is itnpractical
to measure reliably, in which case the v8luè Is dèrived from the cost lo the donor or the estimated
resale value. Donated facilities and service5 are reaognised in the accounts when received if the
value can be reliably tneasured. No arnounts are included forthe contribution ofgeneral volunteers.
Income from contracts for the supply of services Is recognisèd with the delivery of the CDntracled
seryice. This is c13ssifièd as unrestricted funds unless there is 8 oontractual ￿qUIreMent for Il to
be spent on a particular purpose and returned il unspent. in which case it may be regarded as
restricted.

Lochaber Music School SCIO
Notes to the Financial Statements ItDnllftuedl
Year ended 31 August 2024
Aceounting policies icontinued)
Expendlture
Expenditure Is rèeognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recove￿d, and is classified under headings of the slalement ol financial
activities to which it relates..
expenditure Dn raising fund5 Includes the costs of all fundraising activities, events, noncharilable
tr8ding activities, and the sale of donated goods.
expenditure on ¢h3ril2ble activities includes all costs incurred by a charity in undertaking activities
that further its charitable aims for the benefit of its beneficiariès, including those support ctssts and
costs relating to the governance ol the charity apportioned to charitsble 8ctivities.
Other expenditure includes all expenditur8 that is nèithèr re18ted tts raising funds for the charity
nor p8rt of its expenditure on charitable activities.
All msts a￿ allocated to expenditure categories reflecting thè use of the resouice. Direct costs
attributable to a single activity are allocated directly to that activity. Sharèd costs are apportioned
between the activities they contribute to on a reasonable. justifiable and consistent b8Si5.
FFnancial instruments
A fiDancial asset or 8 financial liability is recognised only when the charity becomes a paty to the
eontraclual provisions of the instrument.
Basic financial in5truThÈnts are initially recognised at the amount receivable or payable including
any related Iransaclion costs.
Gurrent assets and current liabililies are subsequently rneasured at the cash or other wnsideralion
expected lo be paid or receivèd 8n(5 not discounted.
Debt instrurnents arè SLSbsequently measured al arnortised cost.
Where investments in shares are publicly traded or their fair value can otheTWlgÈ be measured
reliably, the investment is subsequently measured at fair value with changes in f2ir valu&
recognised in income and expenditure. All other such investments are subsequently measured at
Cost less impairment.
Other financial instruments, Ineluding derivatives, are initially recognised at lair value, unless
payrnent for an asset is deferred beyond norm31 business terms or financed at a rate ol interest
that is not a market rate. In which ca%e the asset Is mèasured al the present valLJe of the futu
payments discounted al a market rate of interest for 8 51tnilar debt Instrument.
Other financial instruments are subsequently measured at lair value, with any changes recognised
in the statement of financial aclivilies. with the exception of hèdging instruments in a designated
hedging relationship.
Financial assets Ihal are measured at cost or amortised cost are reviewed for objective evidence
ol impairment at the end of each reporting date. If there is objective evidence of impairrnent, an
imp3irtneTrt loss Is recognised under the appropriate heading in the st8tement of fin3ncial activities
in which the Initial gain was recognised.

Lochaber Music School SCIO
Notes to the Financial Statements [conlinuedl
Year ended 31 August 2024
Accounting policiès (continued)
Financial instruments IcLTrnlinuodl
For 315 equity instrurnents regardless of significance, and other financial assets that are individually
significant, these are assessed Individually lor irnpairmenl. Other financial assets are either
assessed individually Qr grouped on the basis ol similar credit risk characteristics.
Any reversals ol impairment are recognised immedi8tely, to the extent that the reversal does not
result in 8 carrying amount Df the financial assel that exceeds what the earrying amount would
have been had the impairment not previously been recognised.
Donations and legacles
Unrestricted Total Funds Unreslricled Total Funds
Funds
2024
Funds
2023
Donations
Donations
4,460
4.460
10,000
10.000
Grants
Highland Council Funding
Subscription5
10.000
2,816
10.000
2,816
9,122
1,055
9,122
1,055
17.276
17,276
20,177
20,177
Charitablè actlvities
Unrestricted Total Funds Unre51ricted Total Funds
Funds
2024
Funds
2023
Instrurnent Hire
Lessons
Music Centre Fees
Music Makers
Concerts
Other Income
660
27,151
8,360
910
2,113
130
660
27,151
8,360
910
2,113
130
1,070
18.521
4.793
2,346
2,578
773
1,070
18,521
4,793
2,346
2,578
773
39.324
39.324
30,081
30.081
Other trading activilies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Shop income
59
59
321
321
10

Lochaber Music School SCIO
Notes to the Financial Statements (eontinuedl
Year ended 31 August 2024
ExpendSture on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Charilable Activities
Support costs
64.479
900
64,479
900
57.387
900
57.387
900
65,379
65,379
58,287
58,287
Expenditure on charitable activitiès by activity type
undertaken
directly
Support Totsl funds
costs
2024
Total fund
2023
Charitable Activities
Governance costs
64,479
64,479
900
57,387
900
900
64,479
900
65,379
58,287
Independent examination fèes
2024
2023
Fee5 payable to the indepèndent examiner for..
Independent examination of the financial stateTnents
900
900
10. Staff costs
The totzl staff costs and employee benefits for the reporting period are analysed zs fDIIows'.
2024
2023
Staff - Wages & Salarie5
Staff - Music Director
staff - Self Employed Tutors
14,240
22,291
22,826
16,696
11,234
17.966
59,357
45,896
The average head count ol employees during the year wa5 Nil12023.. Nill.
No employee received employee benefits of more than £60,000 during the year12023.' Nill.
11. Trustee remuneration and èxpenses
3 trustees received remuneration during the year lotalling £25,90712023.. £32,727).
11

Lochaber Music School SCIO
Notes to the Financial Statements (cofjtinued)
Year ended 31 August 2024
12. Analysis of charitable funds
Unrestricted fund#
Al
1 Sep 2023
At
Income Expenditure 31 Aug 2024
General funds
39.424
56,659
165,3791
30,704
At
1 Sep 2022
At
Income Expenditure 31 Aug 2023
General funds
47,132
50,579
158,2871
39.424
12

Lochaber Music School SCIO
Management Information
Year ended 31 August 2024
The following pages do not form part of the finaneral statèments.
13

Lochaber Music School SCIO
Detailed Statement of Financial Activities
Year ended 31 August 2024
2024
2023
Income and endowments
Donations and legacies
Donations
Highl3nd Council Funding
Subscriptions
4,460
10,000
2,816
10,000
9.122
1.055
17,276
20,177
Charitable a¢tivities
Instrument Hire
Lessons
Music Centre Fees
Music Makers
Concerts
Other Income
660
27.151
8,360
910
2,113
130
1,070
18,521
4.793
2.346
2,578
773
39.324
30,081
Other Irading a¢tivities
Shop income
59
321
Total income
56,6S9
50,579
Expenditure
Expenditure on charitabl& actlvltles
Staff - Wages & Salaries
Staff - Music Director
Staff - Self Etnployed Tutors
Repairs and maintenance
Insurance
Other motorllravel costs
Legal and professional fees
Other office costs
Other costs
Musical instrument purchases
14.240
22,291
22,826
16,696
11.234
17,966
210
634
912
900
685
756
8,294
675
1,021
900
1,534
1,209
683
65,379
58,287
Total expenditure
65,379
58,287
Net expenditure
18.7201
17.7081
14

Lochaber Music School SCIO
Notes to the Detailed Statement of Financial Activities
Year ended 31 August 2024
2024
2023
Expenditure on charitable activltles
Charitable Activities
Activities unrlertaken directly
Staff - Wages & Salaries
staff - Music Director
Staff - Self Employed Tutors
Eslatilishmenl- Repairs & Maintenance
In5ur8nce
Professi0Tr81- Payroll Costs
Office Expenses - PSA
Other Costs
Musical instrumer)I purchasès
14,240
22,291
22,826
16.696
11,234
17,966
210
634
912
685
756
8.294
675
1,021
1,534
1,209
683
64,479
57,387
Governance Costs
Professional- Accountancy Fees
900
900
Expenditure on charitsble a¢tivities
65,379
58,287
15