APPENDIX 1
oscr
Period start dale
nlh Y88r
2024
Period end dale
Month Year
2025
From
31
01
To
Office of the Scottish Charity Regulator
Reference and administration details
Charity name
other names charity is known
by
Registered charity number
Charity's principal address
Trendy Tuesday Girl Museum
Trendy Tuesdays
SC052293
Names of the charity trustees on date of approval of Trustees. Annual Report
Trustee name
Office lif any)
Dates acted if
not for whole year
lor body) entitled to
oint trustee
if any)
10
11
12
13
14
15
16
17
18
19
20

APPENDIX 1
Reference and administration details
Name5 of all other charity trustees during the period. if any. (for exarnple. those who resigned part way
through the financial period)
N￿e
Dates acted if not for whole year
Structure, governance and management
Type of goveming document
Constitution
Trustee recruitment and appointment
The Tnjstees are all un
Director.
media.
aid volunteers who appointed by Founding
fter recruitment appeals were made via social
Objectives and activities
Charitable purposes
TRENDY TUESDAY GIRL MUSEUM'S purposes and objectives
are for the benefil of the piiblie in Scotland and elsewhere to
advance education alld the ￿ls, heritage alld culture and
throiigh.. a) the collectlon, Tec0Ta￿9 alld presetvation of the
history of girlhood;
b) the provisioll of all environmellt alld activities that enable
individuals and grow)s to learn about the culture and heritage
of girlbood
a) to pi'ovide tnusewll th'splays, exhibitions, talks,
publications and other activities as necessary;
b) lo ieseai'cty collect, preserve and n￿l￿taIn artefacts and
infonnation:
c) to advertise, publicise and ulldeitake any other activities,
cli1d￿% trad￿8 activities, ancillary to and ￿ furtherance of
the clwitable objects.
Summary of the main activities
in relation to these objects

APPENDIX 1
Achievements and performance
Summary of the main
achievements of the charity
during the financial period
We are still seeking a home for the museum andlor exhibition space. The charity
has contacted Glasgow City Council's Property Asset Management Team with a
view to obtaining the former Springburn Library & Museum to house the Trendy
Tuesday Girl Museum. however, the current lease of the building is due for
renewal and the Council have not yet made a decision on whether to renew the
lease or to take back the asset. We await their decision on that. We have also
enquired about other properties. including Partid( Burgh Hall, but no definite
news on any building as yet.
A travelling exhibition of 2 or 3 "Barb￿ pink curiosty cabinets" filled with
miniature Barbies from the early 1990s to the 2000s is planned. These cabinets
are sel to travel to host venues lo discuss feminism and consumerism and the
swal construct that women and oirts are expected to be beautifvl. Funding
applications were made lo the Lottery and other funders. including 3 Scottish
philanthropists, foundations. Unfortunately, the funding applications have to date
been UnsuC￿Ssful, however, we will keep applying for fvnding for this touring
exhibits'on.
The Founder,
had begun the process of creating a
'reminis￿nce service an
so far, 13 "memory boxes. have been created wlth
various objects from the collects'on {vthich is on long term loan to the museum by
the Founderl. A small pilot of some of these boxes has Sin￿ taken place al a
major university hospital, in a hospice, and with older people in the community.
The reminiscence boxes were very well received. A video was made of a person
who was on palliative care exploring once of the reminiscence boxes and this wqll
be used to advertise the service in future. Funding will in future be applied for to
manage the logistic5 of this project.. to advertise- transport and document the
boxe5 going into a variety of community settings such a5 elderly community
shelter complexes, dementia befriender5 clubs- schools and youth group5.
Financial review
Brief statement of the eharity's policy
on resetves
We illtend to secure the ill)￿ed1ate, Medill￿ and lolls-terni future of Trendy
Tuesday Girl Musewn by build￿8 reseThes to an adequate leiel in ]ille with
ow Te5eTh"es ￿)liCy.. Eniergety reseTh"es will be buili up lli the fJr5t 5 year5
from £0-25k (mitLinM￿).
There will thereafter be desiwted resen.es for Xllfiijsln￿tllre, artistic
deNelopnMIt and future heritage projects.
Details of any deficit
NIA
Donated facilities and services (if any) The entire museum collection is currentty loaned to Trendy Tuesdays for
free by the Founder who has funded the collection, its preservation and
storage to date as well as all associated costs of running the museum. It is
hoped that in future. the museum will attract its own funds lo contribute
towards these costs rtseif. The museum does not yet trade and has no
nds. The Founder fijnds these accounts on behalf of the museum.

APPENDIX 1
Other optional information
The accounts to date are dormant because the museum has not received or sent any money to date.
Declaration
The trustees declare that they have approved the trustees, report above land the attached accounts for the
same period).
Signed on behalf of the charity's trustees
Signature{sl
Full name{s1
Position (e.g. Chairl Founding Director
Date
2410612025

## **Trustees’ Annual Report and Accounts: Trendy Tuesday Girl Museum SCIO SC052293** 

Trendy Tuesday Girl Museum operates in the West of Scotland. It is incorporated as a SCIO. 

The charity has income below £250,000 and as such is eligible to prepare its accounts on a _Receipts and Payments_ basis. 

The governing document does not require the charity to prepare fully accrued accounts and neither does it require an audit. 

It was incorporated as a SCIO in the previous financial period, which shows the transfer of assets from the unincorporated association into the SCIO. 

1 



# **Trendy Tuesday Girl Museum SCIO Scottish Charity No – SC052293** 

**Annual Report and Financial Statements For the year ended 30 September 2024** 

2 



**Trustees’ Annual Report** 

**For the year ended 30 September 2024** 

The trustees have pleasure in presenting their report together with the financial statements for the year ended 30 September 2024. 

**Reference and Administrative Information** 

**Charity name** 

Trendy Tuesday Girl Museum SCIO 

**Charity no** SC052293 


3 



## **Structure, Governance and Management** 

## **Constitution** 

The Charity is a Scottish Charitable Incorporated Organisation (a SCIO). It was registered in its current legal form on 31 January 2023. The charity was previously an unincorporated association but changed its legal form to a SCIO. The unincorporated association had no assets to be transferred to the SCIO when it was registered on 31 January 2023. It has a two-tier structure with the Board’s Trustees and members of the charity. 

## **Appointment of trustees** 

The charity Trustees normally meets quarterly. Membership of the charity is open to anyone over 16 years who has an interest in the objectives of the museum. To allow for some continuity of the running of the organisation, currently Founder of the museum – assists the Board. 

The current Trustees are the individuals who signed the charity trustee declaration forms which accompanied the application for incorporation of the organisation and as per the Museum’s Constitution, they have been deemed to have been appointed by the members as charity trustees with effect from the date of incorporation of the organisation. 

Following this initially appointing of Trustees, future Trustees shall be elected at the annual general meeting. There must be a minimum of three and a maximum of twelve trustees. 

## **Objectives and Activities** 

## **Charitable purposes** 

TRENDY TUESDAY GIRL MUSEUM's purposes and objectives are for the benefit of the public in Scotland and elsewhere to advance education and the arts, heritage and culture and through: a) the collection, recording and preservation of the history of girlhood; b) the provision of an environment and activities that enable individuals and groups to learn about the culture and heritage of girlhood. 

## **Activities** 

The Museum’s main activities are a) to provide museum displays, exhibitions, talks, publications and other activities such as activity clubs and events; 

b) to research, collect, preserve and maintain artefacts and information pertaining to girlhood, chiefly in the UK; 

c) to advertise, publicise and undertake any other activities, including trading activities, ancillary to and in furtherance of the charitable objects. 

We do not currently have our own space for the museum but we have displayed a number of girls’ bedrooms, themed with objects and furniture from the 1960s to the 2000s at Summerlee Museum in Coatbridge, North Lanarkshire. We have worked with another community organisation and put on a display and family activities at a charity open day. We have held open days at Bellshill Cultural Centre, where we have shared our objects with the public. We are also particularly proud of the development of a cultural events and activities group for adults called ‘Culture & Connections’ in Glasgow and Lanarkshire in 2023-2024. We ran 69 well-attended and well-reviewed events that varied from museum and gallery visits, games nights, book exchanges, concerts (live music), theatre and independent cinema and crafts events. We have a reminiscence service that has undergone a small pilot scheme in a hospital, in a hospice and with older people in the community. We are currently planning a touring exhibition. 

4 



## **Achievements and Performance to date** 

## **Recent Past** 

**Culture and Connections had almost 700 members,** mostly in the hard-to-reach 50+ years age group. 

We ran 69 events in Glasgow and Lanarkshire. 

The events were rated by attendees and scored 4.5 out of 5 overall. 

## **This Year** 

We have piloted a “reminiscence service” with the 13 “memory boxes” we created previously with various objects from the collection. We have now created a video of a palliative care patient exploring one of the memory boxes. Funding shall be applied for to manage the logistics of this project: to advertise; transport and document the boxes going into a variety of community settings such as elderly community shelter complexes, dementia befrienders clubs; schools and youth groups. 

We have created a “Travelling Curiosity Cabinet” filled with objects to tour venues across the Central Belt of Scotland. 

We have begun to collect people’s stories generated by their memories of the objects and to preserve these stories in our museum. 

## **Financial review** 

To date we have applied for but not received any funding. All activities to date have been financed by the museum’s Founder, Wendy Hesketh, who owns the collection which she loans to the museum. **The museum itself has not received any funds, nor no spent any sums.** 

Our immediate fundraising efforts this year will concentrate on the touring exhibition and establishment of the reminiscence service and collection of personal histories (stories) of participants. 

Our intention going forward is to apply for set up and running costs for our own space for the museum, for utilities and staffing costs. 

## **Reserves policy** 

The trustees’ policy is to retain 3 months’ worth of projected running costs in order to meet commitments and to cover any unexpected expenditure in future, once the museum starts operating. Three months’ expenditure is estimated to be £25,000 and this is the bare minimum of reserves that we expect to hold once the museum is operating within its own building and the Trustees would monitor this position in time. The museum currently has no funds and no costs, so there are no reserves at present. 

## **Plans for future period** 

The trustees intend to continue to develop the museum by the introduction of the Reminiscence Service and by community activities with the touring exhibition in the near future. 

5 



|**Statement of Receipts**|**Statement of Receipts**|**and Payments for the year ended 30 September**|**and Payments for the year ended 30 September**|**2023**|
|---|---|---|---|---|
|**Unrestricted**||**Restricted**|**Year ended**|**Period ended**|
|**Funds**||Funds|**30/09/2024**|**30/09/2024**|
|**Receipts**|||||
|Donations|-|-|-|-|
|Grants|-|-|-|-|
|Fundraising|-|-|-|-|
|Bank interest|-|-|-|-|
|Receipts from|-|-|-|-|
|charitable|||||
|activities –|||||
|Membership fees|||||
|Total receipts|0|0|0|0|
|**Payments**|||||
|Fundraising costs|-|-|-|-|
|Cost of|-|-|-|-|
|charitable|||||
|activities|||||
|Governance|-|-|-|-|
|costs|||||
|Purchase of|-|-|-|-|
|equipment|||||
|**Total payments**|0|0|0|0|
|Surplus/(Deficit)|-|-|-|-|
|for the year|||||
|Transfers|-|-|-|-|
|between funds|||||
|Surplus/(Deficit)|0|0|0|0|
|for the year|||||



6 



**CHARITY REGISTRATION NUMBER: SC052293** 

## **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **M CLARKSON ACCOUNTING** 

Certified public accountants 44 Sapphire Road Bellshill North Lanarkshire Scotland ML4 2ES 



## **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **Year ended 30 September 2024** 

||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**3**|
|Statement of financial activities|**4**|
|Statement of financial position|**5**|
|Statement of cash flows|**6**|
|Notes to the financial statements|**7**|





## **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **Year ended 30 September 2024** 

The Trustees have pleasure in presenting their report together with the financial statements for the year ended 30 September 2023. 

## **Reference and Administrative Information** 

## **Charity name** 

Trendy Tuesday Girl Museum SCIO 

**Charity no** SC052293 


## **Structure, Governance and Management** 

## **Constitution** 

The Charity is a Scottish Charitable Incorporated Organisation (a SCIO). It was registered in its current legal form on 31 January 2023. The charity was previously an unincorporated association but changed its legal form to a SCIO. The unincorporated association had no assets to be transferred to the SCIO when it was registered on 31 January 2023. It has a two-tier structure with the Board’s Trustees and members of the charity. 

## **Appointment of trustees** 

The charity Trustees normally meets quarterly. Membership of the charity is open to anyone over 16 years who has an interest in the objectives of the museum. To allow for some continuity of the running of the organisation, currently – Founder of the museum – assists the Board. 

The current Trustees are the individuals who signed the charity trustee declaration forms which accompanied the application for incorporation of the organisation and as per the Museum’s Constitution, they have been deemed to have been appointed by the members as charity trustees with effect from the date of incorporation of the organisation. 

Following this initially appointing of Trustees, future Trustees shall be elected at the annual general meeting. There must be a minimum of three and a maximum of twelve trustees. 

## **Objectives and Activities** 

## **Charitable purposes** 

TRENDY TUESDAY GIRL MUSEUM's purposes and objectives are for the benefit of the public in Scotland and elsewhere to advance education and the arts, heritage and culture and through: a) The collection, recording and preservation of the history of girlhood; 

b) The provision of an environment and activities that enable individuals and groups to learn about the culture and heritage of girlhood. 

## **Activities** 

The Museum’s main activities are a) to provide museum displays, exhibitions, talks, publications and other activities such as activity clubs and events; 

b) to research, collect, preserve and maintain artefacts and information pertaining to girlhood, chiefly in the UK; 

c) to advertise, publicise and undertake any other activities, including trading activities, ancillary to and 

**- 1 -** 



## **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **Year ended 30 September 2024** 

in furtherance of the charitable objects. 

We do not currently have our own space for the museum but we have displayed a number of girls’ bedrooms, themed with objects and furniture from the 1960s to the 2000s at Summerlee Museum in Coatbridge, North Lanarkshire. We have worked with another community organisation and put on a display and family activities at a charity open day. We have held open days at Bellshill Cultural Centre, where we have shared our objects with the public. We are also particularly proud of the development of a cultural events and activities group for adults called ‘Culture & Connections’ in Glasgow and Lanarkshire in 2023-2024. We ran 69 well-attended and well-reviewed events that varied from museum and gallery visits, games nights, book exchanges, concerts (live music), theatre and independent cinema and crafts events. We have a reminiscence service that has undergone a small pilot scheme in a hospital, in a hospice and with older people in the community. We are currently planning a touring exhibition. 

We ran events that varied from museum and gallery visits, games nights, book exchanges, concerts (live music), theatre and independent cinema and crafts events. 

## **Achievements and Performance to date** 

## **Recent Past** 

Culture and Connections had almost 700 members, mostly in the hard-to-reach 50+ years age group. 

## **We ran 69 events in Glasgow and Lanarkshire.** 

The events were rated by attendees and scored 4.5 out of 5 overall. 

## **This Year** 

We have piloted a “reminiscence service” with the 13 “memory boxes” we created previously with various objects from the collection. We have now created a video of a palliative care patient exploring one of the memory boxes. Funding shall be applied for to manage the logistics of this project: to advertise; transport and document the boxes going into a variety of community settings such as elderly community shelter complexes, dementia befrienders clubs; schools and youth groups. 

We have created a “Travelling Curiosity Cabinet” filled with objects to tour venues across the Central Belt of Scotland. 

We have begun to collect people’s stories generated by their memories of the objects and to preserve these stories in our museum. 

## **Financial review** 

To date we have applied for but not received any funding. All activities to date have been financed by the museum’s Founder, Wendy Hesketh, who owns the collection which she loans to the museum. The museum itself has not received any funds, nor no spent any sums. 

Our immediate fundraising efforts this year will concentrate on the touring exhibition and establishment of the reminiscence service and collection of personal histories (stories) of participants. 

Our intention going forward is to apply for set up and running costs for our own space for the museum, for utilities and staffing costs 

## **Reserves policy** 

The trustees’ policy is to retain 3 months’ worth of projected running costs in order to meet commitments and to cover any unexpected expenditure in future, once the museum starts operating. Three months’ expenditure is estimated to be £25,000 and this is the bare minimum of reserves that we expect to hold once the museum is operating within its own building and the Trustees would monitor this position in time. The museum currently has no funds and no costs. 

**- 2 -** 



Trustees, Annual Report and Accounts
Trendy Tuesday Girl Museum SCIO
Year ended 30 September 2024
Independent Examiner's Report
I report to the trustees on my examination of the financial statements of Trendy Tuesday Girl Museum
SCIO Ilhe charity'l for the year ended 30 September 2024, which are set out on pages 4 to 5.
Respective responsibilities of trustees and exarniner
The charity's trustees are responsible for the preparation of the accounts in aecordance with the temis
of the Charities and Trustee Investment Iscotlandl Act 2005 and the char￿eS Accounts (Seotlandl
Regulations 2006 las amended).
The charity trustees consider that the audit requirement of Regulation 10111 Id) of the 2006 Accounts
Regulations does not apply. It is my responsibilty to examine the accounts as required under section
44111 {cl of the Act and to stste whether particular matters have come to my attention.
Basis of independenl examinerfs statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An
examination includes a review of the accounting records kept by the charity and a comparison 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 trustees conceming any such matters. The
procedures undertaken do not provide all the evidence that would be required in an audf(, and
consequenly I do not express an audit opinion on the view given by the accounts.
Independent examiners unqualified slatement
In the course of my examination. no matter has come to my attention
which gives me reasonable Cause to believe that in any material respect the requirements:
to keep accounting records in aecordance with Section 44{11 (al of the 2005 Act and
Regulation 4 of the 2006 Accounts Regulations
to prepare accounts which accord with the accounting records and compty wth
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 lo be reached.
30 June 2025

## **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **Statement of financial activities** 

## **Year ended 30 September 2024** 

||||**2024**||2023|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds**Total funds**||Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies||0|0|**0**|0|
|Charitable activities||0|0|**0**|0|
|Other trading activities||0|0|**0**|0|
|**Total income**||0|0|**0**|0|
|||=======================|==============|=======================|=======================|
|**Expenditure**||||||
|Expenditure on charitable activities||0|0|**0**|0|
|**Total expenditure**||0|0|**0**|0|
|||=======================|==============|=======================|=======================|
|**Net income/(expenditure) and net**||||||
|**movement in funds**||0|0|**0**|0|
|||=======================|==============|=======================|=======================|
|**Reconciliation of funds**||||||
|Total funds brought forward||0|0|**0**|0|
|**Total funds carried forward**||0|0|**0**|0|
|||=======================|=======================|=======================|=======================|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

**The notes on pages 7 to 8 form part of these financial statements.** 

**- 4 -** 



## **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **Statement of Financial Position** 

## **Year ended 30 September 2024** 

|||**2024**|2023|
|---|---|---|---|
||**Note**|**£**|£|
|**Current assets**||||
|Cash at bank and in hand||**0**|0|
|**Net current assets**||**0**|0|
|**Total assets less current liabilities**||**0**|0|
|||=======================|=======================|
|**Funds of the charity**||||
|Restricted funds||**0**|0|
|Unrestricted funds||**0**|0|
|**Total charity funds**||**0**|0|
|||=======================|=======================|



These financial statements were approved by the board of trustees and authorised for issue on 30 June 2025, and are signed on behalf of the board by: 


**The notes on pages 7 to 8 form part of these financial statements.** 

**- 5 -** 



## **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **Statement of Cash Flows** 

## **Year ended 30 September 2024** 

||**2024**|2023|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|||
|Net income/(expenditure)|**0**|0|
|Cash generated from operations|**0**|0|
|Net cash from/(used in) operating activities|**0**|0|
||=======================|=======================|
|**Net increase/(decrease) in cash and cash equivalents**|**0**|0|
|**Cash and cash equivalents at beginning of year**|**0**|0|
|**Cash and cash equivalents at end of year**|**0**|0|
||=======================|=======================|



**The notes on pages 7 to 8 form part of these financial statements.** 

**- 6 -** 



## **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **Notes to the Financial Statements** 

## **Year ended 30 September 2024** 

## **1. General information** 

The charity is a public benefit entity and a registered charity in Scotland and is incorporated. The address of the principal office is 

## **2. 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended). 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds. 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- legacy income is recognised when receipt is probable and entitlement is established. 

- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the 

**- 7 -** 



# **Trustees’ Annual Report and Accounts Trendy Tuesday Girl Museum SCIO** 

## **Notes to the Financial Statements** 

## **Year ended 30 September 2024** 

contribution of general volunteers. 

- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 

## **Resources expended** 

Expenditure is recognised on an actual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: 

- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. 

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

**- 8 -** 



ll