IRIS Accounts Productionv24.2.0.383OtherCompany accountsTruefalsePounds1.1.2331.12.2331.12.23FYC J P DawnayM W HunterC L RiggI O RiddellS BradleyA SeawrightG M PorteousJ IrwinD LaveryP MarshallG J S GoodfellowL A GordonC GordonL A GordonFRS 102Independent examinerSmall companies regime for accountsFullCharities SORPtruetruetruetruefalsetruefalsetrue iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3980442022-12-31SC3980442023-12-31SC3980442023-01-012023-12-31SC3980442021-12-31SC3980442022-01-012022-12-31SC3980442022-12-31SC398044ns0:CharitableCompanyLimitedByGuarantee2023-01-012023-12-31SC398044ns15:PoundSterling2023-01-012023-12-31SC398044ns0:Trustee22023-01-012023-12-31SC398044ns0:Trustee32023-01-012023-12-31SC398044ns0:Trustee42023-01-012023-12-31SC398044ns0:Trustee52023-01-012023-12-31SC398044ns0:Trustee62023-01-012023-12-31SC398044ns0:Trustee72023-01-012023-12-31SC398044ns0:Trustee82023-01-012023-12-31SC398044ns0:Trustee92023-01-012023-12-31SC398044ns0:Trustee102023-01-012023-12-31SC398044ns0:Trustee112023-01-012023-12-31SC398044ns0:Trustee12023-01-012023-12-31SC398044ns0:Trustee122023-01-012023-12-31SC398044ns0:Trustee132023-01-012023-12-31SC398044ns0:Trustee142023-01-012023-12-31SC398044ns11:FRS1022023-01-012023-12-31SC398044ns11:IndependentExaminationCharity2023-01-012023-12-31SC398044ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC398044ns11:FullAccounts2023-01-012023-12-31SC398044ns11:CharitiesSORP2023-01-012023-12-31SC398044ns16:EnglandWales2023-01-012023-12-31SC398044ns11:RegisteredOffice2023-01-012023-12-31SC398044ns11:CompanySecretary12023-01-012023-12-31SC398044ns0:TotalUnrestrictedFunds2023-01-012023-12-31SC398044ns0:TotalRestrictedIncomeFunds2023-01-012023-12-31SC398044ns0:TotalEndowmentFunds2023-01-012023-12-31SC398044ns0:Activity92023-01-012023-12-31SC398044ns0:TotalUnrestrictedFundsns0:Activity92023-01-012023-12-31SC398044ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-01-012023-12-31SC398044ns0:TotalEndowmentFundsns0:Activity92023-01-012023-12-31SC398044ns0:Activity92022-01-012022-12-31SC398044ns0:TotalUnrestrictedFunds2022-12-31SC398044ns0:TotalRestrictedIncomeFunds2022-12-31SC398044ns0:TotalEndowmentFunds2022-12-31SC398044ns0:TotalUnrestrictedFunds2023-12-31SC398044ns0:TotalRestrictedIncomeFunds2023-12-31SC398044ns0:TotalEndowmentFunds2023-12-31SC398044ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-12-31SC398044ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2023-12-31SC398044ns0:TotalEndowmentFundsns10:WithinOneYear2023-12-31SC398044ns10:WithinOneYear2023-12-31SC398044ns10:WithinOneYear2022-12-31SC398044ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-01-012023-12-31SC398044ns10:FurnitureFittingsToolsEquipment2023-01-012023-12-31SC39804432023-01-012023-12-31SC39804412023-01-012023-12-31SC39804412022-01-012022-12-31SC398044132023-01-012023-12-31SC398044132022-01-012022-12-31SC398044ns10:OwnedAssets2023-01-012023-12-31SC398044ns10:OwnedAssets2022-01-012022-12-31SC398044ns0:TotalUnrestrictedFunds2022-01-012022-12-31SC398044ns0:TotalRestrictedIncomeFunds2022-01-012022-12-31SC398044ns0:TotalEndowmentFunds2022-01-012022-12-31SC398044ns0:TotalUnrestrictedFundsns0:Activity92022-01-012022-12-31SC398044ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-01-012022-12-31SC398044ns0:TotalEndowmentFundsns0:Activity92022-01-012022-12-31SC398044ns10:OwnedOrFreeholdAssetsns10:LandBuildings2022-12-31SC398044ns10:FurnitureFittings2022-12-31SC398044ns10:FurnitureFittings2023-01-012023-12-31SC398044ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-12-31SC398044ns10:FurnitureFittings2023-12-31SC398044ns10:OwnedOrFreeholdAssetsns10:LandBuildings2022-12-31SC398044ns10:FurnitureFittings2022-12-31SC398044ns10:UnlistedNon-exchangeTradedns10:CostValuation2022-12-31SC398044ns10:UnlistedNon-exchangeTradedns10:DisposalsRepaymentsInvestments2023-12-31SC398044ns10:RevaluationsIncreaseDecreaseInInvestmentsns10:UnlistedNon-exchangeTraded2023-12-31SC398044ns10:UnlistedNon-exchangeTradedns10:CostValuation2023-12-31

REGISTERED COMPANY NUMBER: SC398044 (Scotland)

REGISTERED CHARITY NUMBER: SC003695



















BIGGAR MUSEUM TRUST

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2023



BIGGAR MUSEUM TRUST








Contents of the Financial Statements

for the Year Ended 31 December 2023






Page




Report of the Trustees  

1


to


5



Independent Examiner's Report  

6




Statement of Financial Activities  

7




Balance Sheet  

8


to


9



Notes to the Financial Statements  

10


to


19



BIGGAR MUSEUM TRUST (REGISTERED NUMBER: SC398044)



Report of the Trustees

for the Year Ended 31 December 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).


OBJECTIVES AND ACTIVITIES

Objectives and aims

Biggar Museum Trust exists to promote the heritage and culture of Biggar and Upper Clydesdale to both visitors and local residents. Its objective is the advancement of education through the display of its collections and the provision of access to its extensive archives, as well as the conservation and preservation of artefacts and local sites of historical, geological and archaeological interest.

The charity's principal objectives are to:

ocollect, store, preserve and record the historic heritage of the area;
oprovide an educational and enjoyable experience for all ages;
omake the collection and archive as accessible to as many people as possible;
oact as one of the focal points for local community endeavour; and
omaintain the financial viability of the museums.



BIGGAR MUSEUM TRUST (REGISTERED NUMBER: SC398044)



Report of the Trustees

for the Year Ended 31 December 2023


ACHIEVEMENT AND PERFORMANCE

Significant Activities

2023 has been a busy year for the museum and the following is a synopsis of the events and achievements.

Preparation for the installation of the Dalkeith Palace Model commenced February when the huge wooden model, completed by George Meikle Kemp, architect of the Sir Walter Scott monument on Princes Street Edinburgh was delivered and reinstated by cabinet maker Patrick Baxter. The exhibition opened at Easter and continued for the summer season. It proved to be very popular and attracted visitors from further afield. Visitor numbers and retail sales showed a slow incline over the year.

Several smaller community exhibitions and events took place over the year and we are delighted that we are able to provide space to allow local artists to exhibit with us for Biggar Little festival. With support from Friends of Biggar Museum, talks took place and of particular note was a very popular talk by Amy Blakeway, senior lecturer from St Andrews university. Amy spoke about Mary Queen of Scots, who has a direct link with Biggar, where we celebrate our very own 'Queen Mary' for the day during the annual Gala Day celebrations.

To commemorate the coronation of King Charles we were able to display an example of a chair from the Coronation of Queen Elizabeth. The loan of this chair was very kindly provided by one of our Museum Patrons.

We were honoured when the Scottish Curling Trust invited us to hold their exhibition to commemorate the 100th Anniversary of the Winter Olympics at Chamonix. Three members of the British team, who just happened to come from Biggar, won Olympic Gold medals at the games. The museum was able to provide additional displays to support the exhibition which ran from November to March.

Restoration of Holy Trinity Chapel continued at a pace and the stencilling and lighting has now been completed. The Chapel is available for community events and is now used regularly by the congregation of the now closed St Isidore's Roman Catholic Chapel in Biggar. Episcopalian services are also held by Lanark church once a month.

To enable us to carry out necessary upgrades to our Hanwell Museum Monitoring System, which monitors conditions throughout the museum, we were delighted to receive a grant from The Association of Independent Museums.

Maintenance and repair proved to be a major issue throughout the year. Parts of our necessary equipment failed all at the one time along with our air conditioning units and several small museum management systems. It is hoped that the investment made now will cover us for many years to come.

We are pleased to have secured Catherine Gordon as a Trustee to the museum board. Catherine comes to us with a wealth of experience from many years of service with National Museums of Scotland. Catherine knows the museum well as she was born in Biggar.

Anne Seawright has stepped down as a member of the Trustee board but we are delighted that she will continue as a valued volunteer in the museum.

Mike Hunter, a long serving Trustee, stepped down due to ill health. Sadly Mike passed away early 2024. He was instrumental in the development of the 'New' museum and the ongoing operations. He will be sadly missed by everyone at the museum.

In September our Manager/ Curator, Elaine Edwards accepted an exciting role with The Commonwealth War Graves Commission but agreed to continue in her role of Curator.

FINANCIAL REVIEW

Principal funding sources

Our main sources of funding are admissions, shop sales, donations and grants.

Investment policy and objectives

The Trust's investment policy is designed to obtain the highest possible sustainable income for the Biggar Museum Trust commensurate with maintaining the real value of the underlying assets over time. Investments are made for the long term through diversified UK and international portfolios of ordinary shares. We believe this policy is the best way of protecting the long term value of both income and capital against inflation.



BIGGAR MUSEUM TRUST (REGISTERED NUMBER: SC398044)



Report of the Trustees

for the Year Ended 31 December 2023



FINANCIAL REVIEW

Reserves policy

The Endowment Fund holds the long term investments of the Trust. These consist of a balanced portfolio of international equity funds designed to provide a sustainable income in support of the operational activities of the Museum. The Trust's priority is to preserve the real value of the Fund's thereby allowing its annual distributions to keep pace with inflation over time. Consequently its underlying capital is treated as a designated reserve fund whose assets can only be realised in exceptional circumstances.

Reserves are disclosed at note 19 and no fund is in deficit.

The financial reserves of the Trust are retained and ordinarily utilised only insofar as the Trust receives the benefit of the income that the funds provide.

FUTURE PLANS

2025 is our 10th anniversary of the opening of the new museum building and we are proud to mark this achievement. To commemorate we will hold an exhibition at the beginning of the year which includes many of the Artworks that we hold in our collection rarely on view to the public.


Following this and opening at Easter, we will host an exhibition on Lamington Village which will include the beautifully restored Holy Trinity Chapel displaying the restoration process of the original interior stencilling.  We will also be exhibiting items we hold in our collection from Lamington House, home to the Baillie Cochrane family. Sadly the house was demolished in the 1950's because the direct line of the Baillie Cochrane family died out.


From the village of Lamington and the small surrounding villages we hope to display information and reminiscences from members of the public who were raised in the area.


Biggar Archaeology group carried out extensive work around the village and we will be displaying the finds and the story of the old village which was located close to Lamington burn.


Perhaps the most exciting commemoration for our 10th anniversary is that we are delighted we have been selected to hold the 100th Anniversary of the worldwide poet, gardener, writer and artist, Ian Hamilton Findlay. We will collaborate with the team at Little Sparta Garden to bring this exhibition to Biggar High Street.


A lot of discussion has taken place regarding the rear stores which are currently used to house some of our collection. We hope to develop these to include them into our existing buildings but to also provide proper storage for community and educational purposes.


Our Curator, Elaine Edwards, left the Museum to continue with her new position with the Commonwealth War Graves Commission and we are delighted that we have now secured a new Business Manager, Paige Hughes, who comes to us with vast experience of the heritage sector. Paige's experience will be very beneficial for development of the property and the main exhibition.


STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a charitable company limited by guarantee, incorporated on 19th April 2011 and registered with the Office of the Scottish Charity Regulator with effect from 22 June 2012.  The charity was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by it's Articles and Memorandum of Association.  Under those Articles the directors of the company are also charity trustees for the purposes of charity law.


Recruitment and appointment of new trustees

The directors believe there is a good mix of skills and experience represented on the Board of Directors, which includes service users, local business people, members with previous governance experience and members with specialist sector knowledge and experience. Skills gaps are identified and suitable nominations sought when required.



BIGGAR MUSEUM TRUST (REGISTERED NUMBER: SC398044)



Report of the Trustees

for the Year Ended 31 December 2023



STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

Biggar Museum Trust is governed by a Board of Directors of up to 15 members, who meet quarterly to set the annual budget, monitor the work of the charity, oversee its strategic direction and agree policy. The day-to-day operation of the museum is delegated to the museum's management committee which meets monthly and, through that committee, liaises with the museum's volunteers.

Induction and training of new trustees

Board members are made familiar with the operation of the organisation and their governance roles and responsibilities through the publication 'Guidance for Charity Trustees' which is available from OSCR. The members also have to self-assess themselves as fit and proper persons.

New members of the Board are taken through an induction programme which includes:
othe structure, ethos and operation of the charity;
ogoverning documents and reporting requirements;
oroles and responsibilities of members of the Board;
oresourcing information and financial arrangements; and
ostrategic plans for the organisation.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC398044 (Scotland)


Registered Charity number

SC003695


Registered office

156 High Street

Biggar

ML12 6DH


Trustees

G J S Goodfellow (Chairman)

C J P Dawnay                                                        (resigned 19.06.2023)

S Bradley

C Gordon                                                               (appointed 25.09.2023)

L A Gordon

M W Hunter                                                           (resigned 27.03.2023)

J Irwin                                                                    (resigned 27.03.2023)

D Lavery

P Marshall

G M Porteous

I O Riddell

C L Rigg

A Seawright                                                            (resigned 04.12.2023)


Company Secretary

I O Riddell


Independent Examiner

Julie Calderwood FCCA

G O Thomson & Co

Chartered Accountants

85 High Street

Biggar

ML12 6DL




BIGGAR MUSEUM TRUST (REGISTERED NUMBER: SC398044)



Report of the Trustees

for the Year Ended 31 December 2023



REFERENCE AND ADMINISTRATIVE DETAILS

Solicitors

Smail & Ewart

79 High Street

Biggar

ML12 6DE


This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


Approved by order of the board of trustees on 16 September 2024 and signed on its behalf by:






G J S Goodfellow - Trustee


Independent Examiner's Report to the Trustees of

Biggar Museum Trust


I report on the accounts for the year ended 31 December 2023 set out on pages seven to nineteen.


Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.


Basis of the independent examiner's report

My examination was 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 a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning 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 view given by the accounts.


Independent examiner's statement

In connection with my examination, no matter has come to my attention :


(1)

which gives me reasonable cause to believe that, in any material respect, 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 which accord with the accounting records and to comply with Regulation 8 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.









Julie Calderwood FCCA

The Association of Chartered Certified Accountants


G O Thomson & Co

Chartered Accountants

85 High Street

Biggar

ML12 6DL


16 September 2024



BIGGAR MUSEUM TRUST



Statement of Financial Activities

for the Year Ended 31 December 2023



2023


2022


Unrestricted


Restricted


Endowment


Total


Total


funds


funds


fund


funds


funds


Notes

£   

£   

£   

£   

£   


INCOME AND

ENDOWMENTS FROM


Donations and legacies

2

41,073


160,333


-


201,406


165,370



Charitable activities

5

Legal fees

-


-


-


-


8,333


COVID 19 Grants

-


-


-


-


5,900


Rents received

10,748


-


-


10,748


11,350



Other trading activities

3

16,886


-


-


16,886


19,269


Investment income

4

12,901


875


-


13,776


10,887


Other income

-


-


-


-


700


Total

81,608


161,208


-


242,816


221,809



EXPENDITURE ON

Raising funds

6

10,638


-


-


10,638


9,355



Charitable activities

7

Conservation

6,409


-


-


6,409


4,376


General museum running costs

108,581


49,848


-


158,429


129,792


Preservation costs

2,000


171,201


-


173,201


93,925


Governance costs

3,075


-


-


3,075


3,105


Legal fees

-


-


-


-


6,837


Total

130,703


221,049


-


351,752


247,390



Net gains/(losses) on

investments

-


-


30,870


30,870


(39,442

)


NET

INCOME/(EXPENDITURE)

(49,095

)

(59,841

)

30,870


(78,066

)

(65,023

)

Transfers between funds

19

30,000


-


(30,000

)

-


-


Net movement in funds

(19,095

)

(59,841

)

870


(78,066

)

(65,023

)


RECONCILIATION OF

FUNDS


Total funds brought forward

353,345


1,537,733


372,406


2,263,484


2,328,507



TOTAL FUNDS CARRIED

FORWARD

334,250


1,477,892


373,276


2,185,418


2,263,484




BIGGAR MUSEUM TRUST (REGISTERED NUMBER: SC398044)



Balance Sheet

31 December 2023



2023


2022


Unrestricted


Restricted


Endowment


Total


Total


funds


funds


fund


funds


funds


Notes

£   

£   

£   

£   

£   


FIXED ASSETS


Tangible assets

14

279,837


1,426,194


-


1,706,031


1,751,326


Investments

15

-


-


373,276


373,276


372,406


279,837


1,426,194


373,276


2,079,307


2,123,732



CURRENT ASSETS


Stocks

16

4,394


-


-


4,394


5,542


Debtors

17

2,371


-


-


2,371


4,695


Cash at bank and in hand

55,675


51,697


-


107,372


137,937


62,440


51,697


-


114,137


148,174



CREDITORS


Amounts falling due within one

year


18

(8,026

)

-


-


(8,026

)

(8,422

)


NET CURRENT ASSETS

54,414


51,697


-


106,111


139,752



TOTAL ASSETS LESS

CURRENT LIABILITIES

334,251


1,477,891


373,276


2,185,418


2,263,484



NET ASSETS

334,251


1,477,891


373,276


2,185,418


2,263,484


FUNDS

19

Unrestricted funds:


General fund

334,251


353,345


Restricted funds:


Archaeology Account

3,888


3,888



Semple Education Grant fund

2,178


2,178



Lamington Chapel

37,924


63,305



Garage Project

1,427,301


1,461,762



General fund restricted items

6,600


6,600


1,477,891


1,537,733


Endowment funds

373,276


372,406


TOTAL FUNDS

2,185,418


2,263,484



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.




BIGGAR MUSEUM TRUST (REGISTERED NUMBER: SC398044)



Balance Sheet - continued

31 December 2023


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to small charitable companies subject to the small companies regime.



The financial statements were approved by the Board of Trustees and authorised for issue on 16 September 2024 and were signed on its behalf by:






G J S Goodfellow - Trustee



BIGGAR MUSEUM TRUST



Notes to the Financial Statements

for the Year Ended 31 December 2023


1.

ACCOUNTING POLICIES



Basis of preparing the financial statements


The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.



Income


All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.



Expenditure


Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to 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. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.



Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



Freehold property

-

2% on cost


Fixtures and fittings

-

25% on cost


Assets which are inalienable or historic, including historic asset collections and artefacts, are excluded from the Balance Sheet on the basis that it is either too difficult or too costly to attribute a value to those assets. A register of heritage assets is maintained by the trustees which contains a detailed record of each asset including how and when it was acquired.

Payment for heritage assets is included in the SOFA in the year they are acquired.


Taxation

The charity is exempt from corporation tax on its charitable activities.


Fund accounting


Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.



The capital of the endowment fund has been ring-fenced and is only to be utilised in exceptional circumstances, whilst the income from the fund is available to assist with the general operating costs of the Museum.



Restricted funds can only be used for particular restricted purposes within the objects of the charity.  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.



Going concern

The trustees have formed a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future and so continue to adopt the going concern basis in preparing the accounts.



BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


1.

ACCOUNTING POLICIES - continued



Investments

Investments are shown at market value at the Balance Sheet date.

2.

DONATIONS AND LEGACIES


2023


2022

£   

£   



Donations

82,952


11,926




Gift aid

810


2,898




Legacies

1,000


-




Grants

101,881


133,796




Subscriptions

1,917


1,667




Admissions

8,896


10,483




Patrons

3,950


4,600



201,406


165,370





Grants received, included in the above, are as follows:



2023


2022

£   

£   



Museums Gallery Scotland

-


4,588




Association of Independent Museums

1,040


1,040




Ventient Energy Glenkerie Community Fund

-


9,917




Listed Places of Worship Grant Scheme

24,841


-




Miss Harvey's Trust

10,000


10,000




Cloburn Quarry

-


100,000




DWP Kickstart

-


8,251




INTR Charity Trust

65,000


-




Rathbone Investment Management

1,000


-



101,881


133,796




3.

OTHER TRADING ACTIVITIES


2023


2022

£   

£   



Sales

15,865


17,964




Commissions received

-


175




Room hire

1,021


1,130



16,886


19,269






BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


4.

INVESTMENT INCOME


2023


2022

£   

£   



Dividend income

12,400


10,743




Deposit account interest

1,376


144



13,776


10,887





The Biggar Museum Trust Endowment Fund is designed to provide the Trust with additional income.


5.

INCOME FROM CHARITABLE ACTIVITIES


2023


2022


Activity

£   

£   



Recovery of legal fees

Legal fees

-


8,333




Grants

COVID 19 Grants

-


5,900




Rents received

Rents received

10,748


11,350



10,748


25,583





Grants received, included in the above, are as follows:


2023


2022

£   

£   



South Lanarkshire Council

-


5,900




6.

RAISING FUNDS



Other trading activities


2023


2022

£   

£   



Purchases

10,638


9,355




7.

CHARITABLE ACTIVITIES COSTS


Support



Direct

costs (see



Costs

note 8)

Totals

£   

£   

£   



Conservation

6,409


-


6,409




General museum running costs

158,429


-


158,429




Preservation costs

173,201


-


173,201




Governance costs

-


3,075


3,075



338,039


3,075


341,114






BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


8.

SUPPORT COSTS


Governance


costs

£   



Governance costs

3,075




9.

NET INCOME/(EXPENDITURE)



Net income/(expenditure) is stated after charging/(crediting):




2023


2022

£   

£   



Depreciation - owned assets

45,295


45,293




Surplus on disposal of fixed assets

-


(700

)



10.

TRUSTEES' REMUNERATION AND BENEFITS


There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.



Trustees' expenses


There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


11.

STAFF COSTS


2023


2022

£   

£   



Wages and salaries

37,395


42,784




Other pension costs

741


741



38,136


43,525





The average monthly number of employees during the year was as follows:



2023


2022


Management

2


3





No employees received emoluments in excess of £60,000.




BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


12.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


Restricted


Endowment


Total


funds


funds


fund


funds

£   

£   

£   

£   



INCOME AND ENDOWMENTS FROM


Donations and legacies

49,959


115,411


-


165,370




Charitable activities


Legal fees

8,333


-


-


8,333



COVID 19 Grants

5,900


-


-


5,900



Rents received

11,350


-


-


11,350




Other trading activities

19,269


-


-


19,269



Investment income

10,887


-


-


10,887



Other income

700


-


-


700



Total

106,398


115,411


-


221,809




EXPENDITURE ON


Raising funds

9,355


-


-


9,355




Charitable activities


Conservation

66


4,310


-


4,376



General museum running costs

94,053


35,739


-


129,792



Preservation costs

-


93,925


-


93,925



Governance costs

3,105


-


-


3,105



Legal fees

6,837


-


-


6,837



Total

113,416


133,974


-


247,390




Net gains/(losses) on investments

-


-


(39,442

)

(39,442

)



NET INCOME/(EXPENDITURE)

(7,018

)

(18,563

)

(39,442

)

(65,023

)


Transfers between funds

(130,000

)

-


130,000


-



Net movement in funds

(137,018

)

(18,563

)

90,558


(65,023

)



RECONCILIATION OF FUNDS


Total funds brought forward

490,363


1,556,296


281,848


2,328,507




TOTAL FUNDS CARRIED FORWARD

353,345


1,537,733


372,406


2,263,484





BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


13.

LEGAL FEES



During 2019 the legal dispute with the abortive purchaser of the Moat Park building was settled in favour of Biggar Museum Trust. It was decreed that the plaintiff should pay Biggar Museum Trust's legal costs in respect of their failed appeal and the Trustees concluded this action during the year..


14.

TANGIBLE FIXED ASSETS


Fixtures



Freehold


and



property


fittings


Totals

£   

£   

£   



COST


At 1 January 2023 and 31 December 2023

2,099,792


38,861


2,138,653




DEPRECIATION


At 1 January 2023

356,849


30,478


387,327




Charge for year

41,609


3,686


45,295




At 31 December 2023

398,458


34,164


432,622




NET BOOK VALUE


At 31 December 2023

1,701,334


4,697


1,706,031




At 31 December 2022

1,742,943


8,383


1,751,326




15.

FIXED ASSET INVESTMENTS


Unlisted


investments

£   



MARKET VALUE


At 1 January 2023

372,406




Disposals

(22,908

)



Revaluations

23,778




At 31 December 2023

373,276




NET BOOK VALUE


At 31 December 2023

373,276




At 31 December 2022

372,406





There were no investment assets outside the UK.



Cost or valuation at 31 December 2023 is represented by:



Unlisted


investments

£   



Valuation in 2019

26,037




Valuation in 2020

1,074




Valuation in 2021

30,194




Valuation in 2022

(39,442

)



Valuation in 2023

23,778




Cost

331,635



373,276





BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


15.

FIXED ASSET INVESTMENTS - continued



The investments are held in the BMT Endowment Fund which holds specialist unit trusts designed specifically for charities to provide a high and growing income while at the same time protecting the underlying capital from the erosive effect of inflation.


16.

STOCKS

2023

2022


£   

£   



Stocks

4,394


5,542




17.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022


£   

£   



Trade debtors

714


-




Other debtors

-


3,672




VAT

523


-




Prepayments

1,134


1,023



2,371


4,695




18.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022


£   

£   



Trade creditors

1,356


1,942




Social security and other taxes

1,422


1,523




VAT

-


802




Accrued expenses

5,248


4,155



8,026


8,422




19.

MOVEMENT IN FUNDS


Net


Transfers




movement


between


At



At 1.1.23


in funds


funds


31.12.23


£   

£   

£   

£   



Unrestricted funds


General fund

353,345


(49,094

)

30,000


334,251





Restricted funds


Archaeology Account

3,888


-


-


3,888




Semple Education Grant fund

2,178


-


-


2,178




Lamington Chapel

63,305


(25,381

)

-


37,924




Garage Project

1,461,762


(34,461

)

-


1,427,301




General fund restricted items

6,600


-


-


6,600



1,537,733


(59,842

)

-


1,477,891




Endowment funds


BMT Endowment Fund

372,406


30,870


(30,000

)

373,276





TOTAL FUNDS

2,263,484


(78,066

)

-


2,185,418





BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


19.

MOVEMENT IN FUNDS - continued



Net movement in funds, included in the above are as follows:



Incoming


Resources


Gains and


Movement



resources


expended


losses


in funds


£   

£   

£   

£   



Unrestricted funds


General fund

81,608


(130,702

)

-


(49,094

)




Restricted funds


Lamington Chapel

160,168


(185,549

)

-


(25,381

)



Garage Project

-


(34,461

)

-


(34,461

)



General fund restricted items

1,040


(1,040

)

-


-



161,208


(221,050

)

-


(59,842

)



Endowment funds


BMT Endowment Fund

-


-


30,870


30,870





TOTAL FUNDS

242,816


(351,752

)

30,870


(78,066

)





Comparatives for movement in funds



Net


Transfers




movement


between


At



At 1.1.22


in funds


funds


31.12.22


£   

£   

£   

£   



Unrestricted funds


General fund

490,363


(7,018

)

(130,000

)

353,345





Restricted funds


Archaeology Account

3,888


-


-


3,888




Semple Education Grant fund

2,178


-


-


2,178




Lamington Chapel

48,356


14,949


-


63,305




Garage Project

1,496,223


(34,461

)

-


1,461,762




General fund restricted items

5,651


949


-


6,600



1,556,296


(18,563

)

-


1,537,733




Endowment funds


BMT Endowment Fund

281,848


(39,442

)

130,000


372,406





TOTAL FUNDS

2,328,507


(65,023

)

-


2,263,484





BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


19.

MOVEMENT IN FUNDS - continued



Comparative net movement in funds, included in the above are as follows:



Incoming


Resources


Gains and


Movement



resources


expended


losses


in funds


£   

£   

£   

£   



Unrestricted funds


General fund

106,398


(113,416

)

-


(7,018

)




Restricted funds


Lamington Chapel

109,917


(94,968

)

-


14,949




Garage Project

-


(34,461

)

-


(34,461

)



General fund restricted items

5,494


(4,545

)

-


949



115,411


(133,974

)

-


(18,563

)



Endowment funds


BMT Endowment Fund

-


-


(39,442

)

(39,442

)




TOTAL FUNDS

221,809


(247,390

)

(39,442

)

(65,023

)




A current year 12 months and prior year 12 months combined position is as follows:



Net


Transfers




movement


between


At



At 1.1.22


in funds


funds


31.12.23


£   

£   

£   

£   



Unrestricted funds


General fund

490,363


(56,112

)

(100,000

)

334,251





Restricted funds


Archaeology Account

3,888


-


-


3,888




Semple Education Grant fund

2,178


-


-


2,178




Lamington Chapel

48,356


(10,432

)

-


37,924




Garage Project

1,496,223


(68,922

)

-


1,427,301




General fund restricted items

5,651


949


-


6,600



1,556,296


(78,405

)

-


1,477,891




Endowment funds


BMT Endowment Fund

281,848


(8,572

)

100,000


373,276





TOTAL FUNDS

2,328,507


(143,089

)

-


2,185,418





BIGGAR MUSEUM TRUST



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


19.

MOVEMENT IN FUNDS - continued



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:



Incoming


Resources


Gains and


Movement



resources


expended


losses


in funds


£   

£   

£   

£   



Unrestricted funds


General fund

188,006


(244,118

)

-


(56,112

)




Restricted funds


Lamington Chapel

270,085


(280,517

)

-


(10,432

)



Garage Project

-


(68,922

)

-


(68,922

)



General fund restricted items

6,534


(5,585

)

-


949



276,619


(355,024

)

-


(78,405

)



Endowment funds


BMT Endowment Fund

-


-


(8,572

)

(8,572

)




TOTAL FUNDS

464,625


(599,142

)

(8,572

)

(143,089

)




Purposes of restricted funds



Semple Education Grant Fund


To fund education in the local area.




Archaeology Account


To fund archaeological investigations




Garage Project


To develop a purpose built museum in Biggar




Lamington Chapel


To assist with the maintenance of the building




Catalogue Fund


To pay the salaries of cataloguers




20.

RELATED PARTY DISCLOSURES



There were no related party transactions for the year ended 31 December 2023.