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 2024

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

17

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 2024. 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:

o

collect, store, preserve and record the historic heritage of the area;

o

provide an educational and enjoyable experience for all ages;

o

make the collection and archive as accessible to as many people as possible;

o

act as one of the focal points for local community endeavour; and

o

maintain the financial viability of the museums.

ACHIEVEMENTS AND PERFORMANCE

Significant Activities

The start of the year was also the continuation of our Curling Exhibition which

commenced in November 2023 through until March. We were honoured to be invited by the Scottish Curling Trust to host their exhibition to commemorate the 100th Anniversary of the Winter Olympics at Chamonix and the event attracted great interest.

It was with some sadness that we had to say goodbye to Michael Hunter, one of our Trustees, who passed away in February. Michael will be remembered for his large contribution to the Trust and in particular, the management of the building of the new Museum which opened in 2010.

From the end of March through to June we had several displays in our Exhibition room which included Zans Lens - Wildlife Photographs, Douglas Davies one of our local artists and a display of postcards from Ukraine.

The stencilling at Holy Trinity Chapel, Lamington, which has been part of an ongoing project was completed and an open day was held in June inviting Patrons and guests to view the finished works. It was also an opportunity to speak to those involved in the refurbishment process.

During the Summer months, we were hosts to the Sir Harry Lauder Exhibition which toured a number of venues showcasing Harry's life and work through stage costumes, his trademark twisted walking stick, handwritten letters and lyrics.

The Autumn followed with our Hidden Gems from the Museum collection which showcased items not usually on display in the Museum. We were pleased to be part of Biggar Little Festival again with the Museum used for local artists and their displays.

The Museum continues to be a large part of Biggar & Upper Clydesdale and we are very grateful to our large number of volunteers who make everything possible and enjoyable for our visitors both local and those from further way.

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.

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

We have two large exhibitions planned for 2025 starting with the Lamington Heritage Exhibition, followed by images from the Arcadian Dream Garden which celebrates the life and legacy of Ian Hamilton Findlay (1925-2006).

Grant funding has been successful from Museums & Galleries Scotland to help with Phase 1 of our Rear Courtyard stores, an exciting project to review our current collection and plan for new storage to be used for both educational and community use.

There are other projects planned, all supported by grant funding, with the aim of renewing displays of information and conserving artefacts. These projects will be supported by both volunteers and professional help and will enhance the visitor experience.

It remains a priority to improve visitor numbers and increase the turnover so we are able to cover the expenditure required to maintain the Museum to the high standard we have achieved with a new building.

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.

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:

o

the structure, ethos and operation of the charity;

o

governing documents and reporting requirements;

o

roles and responsibilities of members of the Board;

o

resourcing information and financial arrangements; and

o

strategic plans for the organisation.

Thank you to all of our Grant Funders, Patrons and those who provide donations who make all of this possible.

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)

S Bradley

C Gordon

L A Gordon

D Lavery

P Marshall

G M Porteous

I O Riddell

C L Rigg

Company Secretary

I O Riddell

Independent Examiner

Julie Calderwood FCCA

G O Thomson & Co

Chartered Accountants

85 High Street

Biggar

ML12 6DL

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 2025 and signed on its behalf by:

G J S Goodfellow - Trustee

I report on the accounts for the year ended 31 December 2024 set out on pages five to seventeen.

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 2025

2024

2023

Unrestricted

Restricted

Endowment

Total

Total

funds

funds

fund

funds

funds

Notes

£

£

£

£

£

INCOME AND

ENDOWMENTS FROM

Donations and legacies

2

32,752

12,054

-

44,806

201,406

Charitable activities

5

Rents received

10,343

-

-

10,343

10,748

Other trading activities

3

16,325

-

-

16,325

16,886

Investment income

4

12,979

323

-

13,302

13,776

Total

72,399

12,377

-

84,776

242,816

EXPENDITURE ON

Raising funds

6

5,248

-

-

5,248

10,638

Charitable activities

7

Conservation

-

6,360

-

6,360

6,409

General museum running costs

86,641

39,777

-

126,418

158,429

Preservation costs

168

-

-

168

173,201

Governance costs

4,800

-

-

4,800

3,075

Total

96,857

46,137

-

142,994

351,752

Net gains on investments

-

-

14,379

14,379

30,870

NET INCOME/(EXPENDITURE)

(24,458

)

(33,760

)

14,379

(43,839

)

(78,066

)

Transfers between funds

18

2,178

(2,178

)

-

-

-

Net movement in funds

(22,280

)

(35,938

)

14,379

(43,839

)

(78,066

)

RECONCILIATION OF

FUNDS

Total funds brought forward

334,251

1,477,891

373,276

2,185,418

2,263,484

TOTAL FUNDS CARRIED FORWARD

311,971

1,441,953

387,655

2,141,579

2,185,418

2024

2023

Unrestricted

Restricted

Endowment

Total

Total

funds

funds

fund

funds

funds

Notes

£

£

£

£

£

FIXED ASSETS

Tangible assets

13

269,223

1,391,731

-

1,660,954

1,706,031

Investments

14

-

-

387,655

387,655

373,276

269,223

1,391,731

387,655

2,048,609

2,079,307

CURRENT ASSETS

Stocks

15

5,915

-

-

5,915

4,394

Debtors

16

1,218

-

-

1,218

2,371

Cash at bank and in hand

46,934

50,222

-

97,156

107,372

54,067

50,222

-

104,289

114,137

CREDITORS

Amounts falling due within one year

17

(11,319

)

-

-

(11,319

)

(8,026

)

NET CURRENT ASSETS

42,748

50,222

-

92,970

106,111

TOTAL ASSETS LESS CURRENT LIABILITIES

311,971

1,441,953

387,655

2,141,579

2,185,418

NET ASSETS

311,971

1,441,953

387,655

2,141,579

2,185,418

FUNDS

18

Unrestricted funds:

General fund

311,971

334,251

Restricted funds:

Tam Ward Appeal

4,315

3,888

Semple Education Grant fund

-

2,178

Lamington Chapel

34,199

37,924

Garage Project

1,392,840

1,427,301

General fund restricted items

10,599

6,600

1,441,953

1,477,891

Endowment funds

387,655

373,276

TOTAL FUNDS

2,141,579

2,185,418

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 2025 and were signed on its behalf by:

G J S Goodfellow - Trustee

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.

Investments

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

2.	DONATIONS AND LEGACIES

2024

2023

£

£

Donations

15,113

82,952

Gift aid

4,784

810

Legacies

-

1,000

Grants

8,624

101,881

Subscriptions

1,833

1,917

Admissions

10,352

8,896

Patrons

4,100

3,950

44,806

201,406

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

2024

2023

£

£

Museums Gallery Scotland

5,499

-

Association of Independent Museums

-

1,040

Biggar Community Council

500

-

Listed Places of Worship Grant Scheme

2,625

24,841

Miss Harvey's Trust

-

10,000

INTR Charity Trust

-

65,000

Rathbone Investment Management

-

1,000

8,624

101,881

3.	OTHER TRADING ACTIVITIES

2024

2023

£

£

Events and workshops

1,028

-

Sales

13,507

15,865

Commissions received

1,100

-

Room hire

690

1,021

16,325

16,886

4.	INVESTMENT INCOME

2024

2023

£

£

Dividend income

12,302

12,400

Deposit account interest

1,000

1,376

13,302

13,776

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

5.	INCOME FROM CHARITABLE ACTIVITIES

2024

2023

Activity

£

£

Rents received

Rents received

10,343

10,748

6.	RAISING FUNDS

Other trading activities

2024

2023

£

£

Purchases

5,248

10,638

7.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 8)

Totals

£

£

£

Conservation

6,360

-

6,360

General museum running costs

126,418

-

126,418

Preservation costs

168

-

168

Governance costs

1,750

3,050

4,800

134,696

3,050

137,746

8.	SUPPORT COSTS

Governance

costs

£

Governance costs

3,050

9.	NET INCOME/(EXPENDITURE)

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

2024

2023

£

£

Depreciation - owned assets

45,361

45,295

Professional fees

1,550

-

10.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

11.	STAFF COSTS

2024

2023

£

£

Wages and salaries

34,490

37,395

Other pension costs

765

741

35,255

38,136

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

2024

2023

Management

1

2

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

12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Endowment

Total

funds

funds

fund

funds

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

41,073

160,333

-

201,406

Charitable activities

Rents received

10,748

-

-

10,748

Other trading activities

16,886

-

-

16,886

Investment income

12,901

875

-

13,776

Total

81,608

161,208

-

242,816

EXPENDITURE ON

Raising funds

10,638

-

-

10,638

Charitable activities

Conservation

6,409

-

-

6,409

General museum running costs

108,581

49,848

-

158,429

Preservation costs

2,000

171,201

-

173,201

Governance costs

3,075

-

-

3,075

Total

130,703

221,049

-

351,752

Net gains on investments

-

-

30,870

30,870

NET INCOME/(EXPENDITURE)

(49,095

)

(59,841

)

30,870

(78,066

)

Transfers between funds

30,000

-

(30,000

)

-

Net movement in funds

(19,095

)

(59,841

)

870

(78,066

)

RECONCILIATION OF FUNDS

Total funds brought forward

353,345

1,537,733

372,406

2,263,484

TOTAL FUNDS CARRIED FORWARD

334,250

1,477,892

373,276

2,185,418

13.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 January 2024

2,099,792

38,861

2,138,653

Additions

-

284

284

At 31 December 2024

2,099,792

39,145

2,138,937

DEPRECIATION

At 1 January 2024

398,458

34,164

432,622

Charge for year

41,607

3,754

45,361

At 31 December 2024

440,065

37,918

477,983

NET BOOK VALUE

At 31 December 2024

1,659,727

1,227

1,660,954

At 31 December 2023

1,701,334

4,697

1,706,031