Charity registration number SC050614 (Scotland)
Company registration number SC673148
ARGYLLSHIRE GATHERING TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ARGYLLSHIRE GATHERING TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr J Strickland
Ms L Gray
Mr J Gully
Mr H Nickerson
Mr C Steuart Fotheringham
Mr J Campbell
(Appointed 4 December 2024)
Mr T Telfer
(Appointed 4 December 2024)
Charity number (Scotland)
SC050614
Company number
SC673148
ARGYLLSHIRE GATHERING TRUST
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 12
ARGYLLSHIRE GATHERING TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The year ended December 2024 has seen a robust surplus of £57k compared to a £7k surplus in the prior year. The £50k improvement has been achieved through £20k of additional support from The Argyllshire Gathering to support the charities’ important activities and through a sustained effort by the Fundraising Committee across the year bringing in £30k of additional donations and grants from new sources. A significant proportion of the new funding is irregular in nature as these sources often only allow applications once every three years. The higher surplus this year has allowed the trustees to enhance the reserves policy, covered below, to allow for greater protection and resilience in these uncertain times.

 

The Oban Highland games which was well attended despite adverse weather in the run up to the day made a small deficit, rather than the surplus we have seen in previous years. All attention is being given by the Games Committee to emerging plans to broaden attendance, strengthen sponsorship and engage more local businesses to ensure the most successful 2025 games possible.

 

The Piping Tuition Scheme across Argyllshire schools continues to go from strength to strength with £50k of support for tuition costs provided over the course of 2024. The tuition scheme across primary and secondary schools supported 417 pupils with the free to use tuition offering. In addition, thanks to a generous capital grant, the trust was able to support pupils with an additional 10 sets of bagpipes, now available to borrow, alongside the existing stock of instruments.

 

The Piping Competitions allow a natural avenue for our tuition scheme pupils to pursue their piping enthusiasm all the way through to elite level competition. The strong roster of domestic and international applicants demonstrates a healthy set of piping competitions, particularly with the addition in recent years of The Lochnell Competition for up and coming younger pipers. The trustees are very grateful for the much needed sponsorship of these competitions and particularly where sponsors feel able to provide for event and judge costs alongside competition prize money.  

 

The trustees are very grateful to our local community, to our competitors and spectators and to all of our sponsors and donors for all they do in support of The Argyllshire Gathering Trust and the trust’s important charitable activities.

 

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

Financial review
Reserves policy

It is the policy of the trustees that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure (£50,000). The trustees believe that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trusts current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The trust is a company limited by guarantee .

ARGYLLSHIRE GATHERING TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr J Strickland
Ms L Gray
Mr J Gully
Mr H Nickerson
Mr C Steuart Fotheringham
Mr J Campbell
(Appointed 4 December 2024)
Mr T Telfer
(Appointed 4 December 2024)

The trustees' report was approved by the Board of Trustees.

Mr J Gully
Trustee
23 August 2025
ARGYLLSHIRE GATHERING TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ARGYLLSHIRE GATHERING TRUST
- 3 -

I report on the financial statements of the trust for the year ended 31 December 2024, which are set out on pages 4 to 12.

Respective responsibilities of trustees and examiner

The charity trustees (who are also the directors of Argyllshire Gathering Trust for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.The trust trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.

It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the 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 financial statements.

Independent examiner's statement

In the course of my examination, no matter has come to my attention

 

1. which gives me reasonable cause to believe that in any material respect the requirements:

have not been met, or

 

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

 

 

Andy Newiss CA

Andy Newiss & Co Ltd

 

25 August 2025
ARGYLLSHIRE GATHERING TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Charitable activities
3
195,440
148,205
Total income
195,440
148,205
Expenditure on:
Charitable activities
4
138,627
140,612
Total expenditure
138,627
140,612
Net income
56,813
7,593
Transfers between funds
-
2,158
Net movement in funds
5
56,813
9,751
Reconciliation of funds:
Fund balances at 1 January 2024
32,313
22,562
Fund balances at 31 December 2024
89,126
32,313

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

ARGYLLSHIRE GATHERING TRUST
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
9
11,742
3,161
Current assets
Stocks
10
3,000
3,000
Debtors
11
26,958
3,475
Cash at bank and in hand
61,802
23,077
91,760
29,552
Creditors: amounts falling due within one year
12
(14,376)
(400)
Net current assets
77,384
29,152
Total assets less current liabilities
89,126
32,313
The funds of the trust
Unrestricted funds
13
89,126
32,313
89,126
32,313

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 23 August 2025
Mr J Gully
Trustee
Company registration number SC673148 (Scotland)
ARGYLLSHIRE GATHERING TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
1
Accounting policies
Charity information

Argyllshire Gathering Trust is a private company limited by guarantee incorporated in Scotland. The registered office is Ainsley Smith & Co Ltd, 21 Argyll Square, Oban.

1.1
Basis of preparation

The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The trust is a Public Benefit Entity as defined by FRS 102.

 

The trust has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
1.4
Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
ARGYLLSHIRE GATHERING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ARGYLLSHIRE GATHERING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 8 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ARGYLLSHIRE GATHERING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
3
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Undisclosed

Sponsorship for Games

8,390
17,317

Schools Scheme Sponsorship

50,000
46,800

Subscriptions

9,583
6,182

Games Day Income

32,989
44,441
Sponsorship for charitable activities
89,552
28,865

Entry Fees for Piping

4,926
4,600
195,440
148,205
ARGYLLSHIRE GATHERING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
4
Expenditure on charitable activities
Overheads
Piping Tuition
Games & Competitions
Total
Overheads
Piping Tuition
Games & Competitions
Total
2024
2024
2024
2024
2023
2023
2023
2023
£
£
£
£
£
£
£
£
Direct costs
Depreciation and impairment
1,948
-
-
1,948
790
-
-
790

Schools Tuition Scheme

-
50,000
-
50,000
-
50,000
-
50,000
Running Costs
-
-
26,571
26,571
-
-
29,104
29,104
Manager
-
-
5,830
5,830
-
-
4,186
4,186

Traffic Management

-
-
3,258
3,258
-
-
2,310
2,310

Tickets & Programmes

-
-
5,798
5,798
-
-
2,754
2,754

Marketing & PR

-
-
2,697
2,697
-
-
1,555
1,555
Judges & Helpers
-
-
4,994
4,994
-
-
5,680
5,680

Accountancy

-
-
3,270
3,270
-
-
400
400

Bank charges

523
-
-
523
481
-
-
481

Treasurer Fee

4,800
-
-
4,800
9,450
-
-
9,450

Piping Honorarium

3,000
-
-
3,000
3,000
-
-
3,000
Bad Debt
2,975
-
-
2,975
-
-
-
-
Prize Money
-
-
22,963
22,963
-
-
18,842
18,842
Write off Loan APT
-
-
-
-
12,060
-
-
12,060
13,246
50,000
75,381
138,627
25,781
50,000
64,831
140,612
Analysis by fund
Unrestricted funds
13,246
50,000
75,381
138,627
25,781
50,000
64,831
140,612
ARGYLLSHIRE GATHERING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
5
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
-
-
Depreciation of owned tangible fixed assets
1,948
790
6
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
7
Employees

The average monthly number of employees during the year was:nil

2024
2023
Number
Number
Total
0
0
There were no employees whose annual remuneration was more than £60,000.
8
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9
Tangible fixed assets
Plant and equipment
£
Cost
At 1 January 2024
3,951
Additions
10,529
At 31 December 2024
14,480
Depreciation and impairment
At 1 January 2024
790
Depreciation charged in the year
1,948
At 31 December 2024
2,738
Carrying amount
At 31 December 2024
11,742
At 31 December 2023
3,161

 

ARGYLLSHIRE GATHERING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
10
Stocks
2024
2023
£
£
Raw materials and consumables
3,000
3,000
11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
26,958
3,475
12
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
14,376
400
13
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January 2024
Incoming resources
Resources expended
Transfers
At 31 December 2024
£
£
£
£
£
General funds
32,313
195,440
(138,627)
-
89,126
Previous year:
At 1 January 2023
Incoming resources
Resources expended
Transfers
At 31 December 2023
£
£
£
£
£
General funds
22,562
148,205
(140,612)
2,158
32,313
14
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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