REGISTERED COMPANY NUMBER: SC618540 (Scotland)

REGISTERED CHARITY NUMBER: SC049225

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PAISLEY MUSEUM REIMAGINED LIMITED

Page

Report of the Trustees

1

to

4

Report of the Independent Auditors

5

to

7

Statement of Financial Activities

8

Balance Sheet

9

Notes to the Financial Statements

10

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 March 2025. 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

The charity's objectives are to manage the development and delivery of the fundraising strategy for Paisley Museum and to drive the capital appeal for the redevelopment of Paisley Museum and Art Gallery, furthering Paisley's cultural regeneration, and specifically to:

-

advance the arts, heritage and public participation in cultural activities primarily within the Paisley area

through fundraising and ongoing stewardship to support the delivery of a leading European museum and

creation of a cultural visitor destination drawing its audience from Scotland, UK and overseas; and

-

advance education and research through ongoing fundraising that will support a participation institution for

learning, skills, development, innovation and research that is fully integrated in the Paisley area and

reaches out to communities and partners locally and nationally; and

-

advance citizenship and community purpose in furthering the objectives in the above paragraphs and by

supporting the transformation of Paisley into a vibrant cultural destination and transforming the place's image; and

-

advance such similar charitable purposes as the Trustees may consider appropriate from time to time to further the objectives in the above paragraphs.

A fundraising strategy was established in 2019 to support the achievement of these objectives and has been reviewed and refreshed annually. In 2022 the target was revised recognising the altered financial and economic climate post Covid on Net-High-Worth individuals which had been a main pillar of the original fundraising strategy. The refreshed strategy focused on major gifts from trusts and foundations, private philanthropy, companies, individuals and communities. A successful expression of interest was submitted to the Community Ownership Fund (COF) in 2024, however following confirmation by the UK Government of the closure of the COF, the target was revised to £1.584m in early 2025. The income and property of the company shall be applied solely towards the promotion of its objects.

Significant activities

The Paisley Museum Reimagined scheme is the flagship project within Renfrewshire Council’s £100m investment in cultural venues and outdoor spaces. Additionally the scheme is designed to use the town’s internationally-significant cultural and heritage story to change its future.

The project is expected to create a £79m boost for the local economy over 30 years, with 138 jobs supported during construction. Moreover it will create 48.5 jobs per year through revenue and visitor spending.

The project has attracted funding from the National Lottery Heritage Fund, with additional funding received from the Scottish Government, and their Regeneration Capital Grant Fund.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Construction work to transform Paisley Museum by Kier is expected to complete by the end of 2025. This will be followed by a complex fit out period to ready the Museum for its official opening in the second half of 2026.

The fundraising campaign has progressed positively, with total income received as at 31 March 2025 of £1.44 million.

Donations of £110,000 have been secured from corporate partners - The Malcolm Group, Scottish Leather Group, Coats plc, the University West of Scotland and Renfrewshire Chamber of Commerce.

Support from Trusts and Foundations now totals almost £1.45 million with almost all major UK Trusts and Foundations having pledged or donated funding for Paisley Museum, through the Capital Appeal. This includes donations received in full from Garfield Weston Foundation, Hugh Fraser Foundation, Wolfson Foundation and Mazumdar Shaw Philanthropy, plus phased pledges of £100,000 from the Reo Stakis Charitable Foundation (£80,000 received as at 31 March 2025) and £200,000 from Clore Duffield (£100,000 received as at 31 March 2025).

In addition to a significant donation through the Mazumdar-Shaw foundation, Kiran Mazumdar-Shaw has donated 16 paintings valued at £180,000 to Paisley Museum, artworks now accepted into the civic collection, with some to be displayed when the Museum reopens.

We anticipate this will mark the end of the main phase of the Capital Appeal.

FINANCIAL REVIEW

Financial position

Per the Statement of Financial Activities on page 8. The charity made a surplus of £44,870 (2024 - £579,019).

Reserves policy

Given the nature of the charity's funding, the Trustees recognise at this moment in time it is difficult to establish a reserves policy. The funds generated to date have been designated as both unrestricted and restricted and are therefore either available for use at the discretion of the trustees in furtherance of their charitable objectives or subject to specific conditions by donors as to how they may be used. The charity does have the financial backing of Renfrewshire Council, but the Trustees recognise to achieve its objectives, the charity has to raise a specific sum of money, as mentioned above.

The Trustees closely monitor the financial position of the charity and what constitutes a realistic reserves policy.

Going concern

At 31 March 2025, the charity has net assets of £287,386 (2024 - £242,516). The main liability is the service charges due to Renfrewshire Council, who are the sole member of the company.

Following the completion of fundraising activity over the next 12 months, the charitable company will begin the process of closure and cessation of all activities and will be applying to start the dissolution process, therefore the accounts have been prepared on a basis other than going concern. This basis is not materially different to a going concern basis.

Funds in surplus/(deficit)

Unrestricted funds at 31 March 2025 were in surplus by £49,186 (2024 - £31,316).

The charity is supported by Renfrewshire Council who remains fully supportive of the strategy and Appeal progress.

FUTURE PLANS

In light of the scheduled re-opening of the museum to the public in the second half of 2026 and the completion of the main phase of the Capital Appeal, it is planned to wind down the company in the next 12 months. The fundraising income will be transferred to Renfrewshire Council to complete the suite of funding programmed to support the delivery of the Paisley Museum Reimagined project, which includes funding already received by Renfrewshire Council from the National Lottery Heritage Fund, the Scottish Government, and their Regeneration Capital Grant Fund.

The priority will be to maintain the effective donor stewardship from the Capital Appeal to identify future opportunities for revenue fundraising to support the continued delivery of cultural activity in the museum and across Renfrewshire.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Paisley Museum Reimagined is a company limited by guarantee and a charity registered in Scotland. It is governed by Articles of Association adopted on 18th January 2019.

Membership of the company is restricted to one, Renfrewshire Council. In the event of the company being wound up the member's liability is restricted to £1.

Recruitment and appointment of new trustees

The charity has four directors who are entitled to attend and vote at the General Meeting of the charity. The maximum number of directors is 7, one of whom will represent Renfrewshire Council and the other six will be appointed by the Board on the basis they have the sufficient skills and experience which will benefit the Board.

The charity is administered on a day-to-day basis by Renfrewshire Council officers who regularly report to the directors.

Organisational structure

New Board members receive appropriate training to ensure they are familiar with their legal obligations under company and charity law. The training needs of the directors are reviewed on a regular basis and refresher training provided as required.

Related parties

None of the Board received remuneration or other benefits from their work with the charity. Any conflicts of interest or related party interests must be disclosed to the full Board. In the current period, no such conflicts of interest were reported.

The charity has a close relationship with Renfrewshire Council which provides financial support to enable the charity to carry out its objectives. All transactions are carried out at arms-length, with the cost of the services being equivalent to that charged to unrelated companies.

Councillor I Nicolson, representing Renfrewshire Council, was appointed to the Board on 18 January 2019.

Risk management

The Board has conducted its own review of the major risks to which the charity is exposed. Risk mitigation is reviewed on an annual basis to assess and provide assurance on the controls in place. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and to ensure consistent quality of delivery for all operational aspects of the charity. These procedures are part of Renfrewshire Council's existing processes and are periodically reviewed to ensure that they still meet the needs of the charity and form part of our quality management system.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC618540 (Scotland)

Registered Charity number

SC049225

Registered office

Renfrewshire House

Cotton Street

Paisley

PA1 1WB

Trustees

William James Campbell Lang

Iain Nicolson Councillor - Renfrewshire Council

Marion White MBE

Robert James Grant

Auditors

Azets Audit Services

Chartered Accountants

Statutory Auditor

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Paisley Museum Reimagined Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Azets Audit Services, were re-appointed at the trustees' meeting on 13 May 2024.

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 20 November 2025 and signed on its behalf by:

William James Campbell Lang - Trustee

Opinion

We have audited the financial statements of Paisley Museum Reimagined Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter - preparation on a basis other than going concern

We draw attention to note 1 in the financial statements, which describes the basis of preparation. The Trustees have prepared the financial statements on a basis other than going concern as the charitable company will begin the process of closure and cessation of all activities within 12 months of the date of these financial statements. Our opinion is not modified in respect of this matter.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

-	adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

n response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:.

-

Enquiry of management and those charged with governance around actual and potential litigation and claims

as well as actual, suspected and alleged fraud;

-

Reviewing minutes of meetings of those charged with governance;

-

Assessing the extent of compliance with the laws and regulations considered to have a direct material effect

on the the financial statements or the operations of the company through enquiry and inspection;

-

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with

applicable laws and regulations;

-

Performing audit work over the risk of management bias and override of controls, including testing of journal

entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions

outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and the trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Kirsty Mackie BAcc CA (Senior Statutory Auditor)

for and on behalf of Azets Audit Services

Chartered Accountants

Statutory Auditor

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

20 November 2025

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

30,262

27,000

57,262

668,315

Investment income

3

20,400

-

20,400

42,136

Total

50,662

27,000

77,662

710,451

EXPENDITURE ON

Raising funds

Raising donations and legacies

4

27,797

-

27,797

127,895

27,797

-

27,797

127,895

Other

4,995

-

4,995

3,537

Total

32,792

-

32,792

131,432

NET INCOME

17,870

27,000

44,870

579,019

RECONCILIATION OF FUNDS

Total funds brought forward

31,316

211,200

242,516

(336,503

)

TOTAL FUNDS CARRIED FORWARD

49,186

238,200

287,386

242,516

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

CURRENT ASSETS

Debtors

9

9,500

-

9,500

58

Cash at bank

993,738

238,200

1,231,938

1,167,768

1,003,238

238,200

1,241,438

1,167,826

CREDITORS

Amounts falling due within one year

10

(954,052

)

-

(954,052

)

(925,310

)

NET CURRENT ASSETS

49,186

238,200

287,386

242,516

TOTAL ASSETS LESS CURRENT LIABILITIES

49,186

238,200

287,386

242,516

NET ASSETS

49,186

238,200

287,386

242,516

FUNDS

11

Unrestricted funds

49,186

31,316

Restricted funds

238,200

211,200

TOTAL FUNDS

287,386

242,516

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 20 November 2025 and were signed on its behalf by:

William James Campbell Lang - Trustee

Iain Nicolson - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Paisley Museum Reimagined Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are presented in pounds sterling as that is the currency in which the charity's transactions are denominated.

Going concern

The charitable company will be applying to start the dissolution process within 12 months of the date of this report and as such the financial statements have been prepared on a basis other than going concern. Due to the composition of the balance sheet, this basis is not materially different to a going concern basis.

Accounting judgements & Sources of estimation uncertainty

In preparing these financial statements, the trustees have not made any critical accounting judgements or utilised any sources of estimation uncertainty.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations, are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

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.

Raising funds

Raising funds expenditure are the fundraising costs associated with the redevelopment of the Paisley Museum and Art Gallery.

Taxation

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

Fund accounting

The charity's funds are unrestricted funds which can be used in accordance with the charitable objectives at the discretion of the trustees.

Financial instruments

The Charity 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 charity's balance sheet when the charity 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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.

2.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

57,254

238,732

Gift aid

8

583

Grants

-

429,000

57,262

668,315

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

2025

2024

£

£

Sylvia Aitken Charitable Trust

-

1,000

The Wooldebing Charity

-

10,000

Clore Duffield

-

100,000

Pilgrim Trust

-

18,000

Garfield Weston Foundation

-

300,000

-

429,000

3.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

20,400

42,136

4.	RAISING DONATIONS AND LEGACIES

2025

2024

£

£

Administrative expenses

27,797

127,895

5.	SUPPORT COSTS

Governance

costs

£

Other resources expended

4,995

6.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Auditors' remuneration

4,995

3,537

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

502,115

166,200

668,315

Investment income

42,136

-

42,136

Total

544,251

166,200

710,451

EXPENDITURE ON

Raising funds

Raising donations and legacies

127,895

-

127,895

127,895

-

127,895

Other

3,537

-

3,537

Total

131,432

-

131,432

NET INCOME

412,819

166,200

579,019

RECONCILIATION OF FUNDS

Total funds brought forward

(381,503

)

45,000

(336,503

)

TOTAL FUNDS CARRIED FORWARD

31,316

211,200

242,516

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

-

58

Accrued income

9,500

-

9,500

58

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

954,052

925,310

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1/4/24

in funds

31/3/25

£

£

£

Unrestricted funds

General fund

31,316

17,870

49,186

Restricted funds

The William Syson Foundation

5,000

-

5,000

Reo Stakis Foundation

60,000

20,000

80,000

Renfrewshire Chamber of Commerce

7,000

7,000

14,000

Clore Duffield Foundation

100,000

-

100,000

Antiquarian Horological Society

6,400

-

6,400

Aurelius Charitable Trust

4,800

-

4,800

Pilgrim Trust

18,000

-

18,000

The Woolbeding Charity

10,000

-

10,000

211,200

27,000

238,200

TOTAL FUNDS

242,516

44,870

287,386

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

50,662

(32,792

)

17,870

Restricted funds

Reo Stakis Foundation

20,000

-

20,000

Renfrewshire Chamber of Commerce

7,000

-

7,000

27,000

-

27,000

TOTAL FUNDS

77,662

(32,792

)

44,870

Comparatives for movement in funds

Net

movement

At

At 1/4/23

in funds

31/3/24

£

£

£

Unrestricted funds

General fund

(381,503

)

412,819

31,316

Restricted funds

The William Syson Foundation

5,000

-

5,000

Reo Stakis Foundation

40,000

20,000

60,000

Renfrewshire Chamber of Commerce

-

7,000

7,000

Clore Duffield Foundation

-

100,000

100,000

Antiquarian Horological Society

-

6,400

6,400

Aurelius Charitable Trust

-

4,800

4,800

Pilgrim Trust

-

18,000

18,000

The Woolbeding Charity

-

10,000

10,000

45,000

166,200

211,200

TOTAL FUNDS

(336,503

)

579,019

242,516

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

544,251

(131,432

)

412,819

Restricted funds

Reo Stakis Foundation

20,000

-

20,000

Renfrewshire Chamber of Commerce

7,000

-

7,000

Clore Duffield Foundation

100,000

-

100,000

Antiquarian Horological Society

6,400

-

6,400

Aurelius Charitable Trust

4,800

-

4,800

Pilgrim Trust

18,000

-

18,000

The Woolbeding Charity

10,000

-

10,000

166,200

-

166,200

TOTAL FUNDS

710,451

(131,432

)

579,019

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

Net

movement

At

At 1/4/23

in funds

31/3/25

£

£

£

Unrestricted funds

General fund

(381,503

)

430,689

49,186

Restricted funds

The William Syson Foundation

5,000

-

5,000

Reo Stakis Foundation

40,000

40,000

80,000

Renfrewshire Chamber of Commerce

-

14,000

14,000

Clore Duffield Foundation

-

100,000

100,000

Antiquarian Horological Society

-

6,400

6,400

Aurelius Charitable Trust

-

4,800

4,800

Pilgrim Trust

-

18,000

18,000

The Woolbeding Charity

-

10,000

10,000

45,000

193,200

238,200

TOTAL FUNDS

(336,503

)

623,889

287,386

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

594,913

(164,224

)

430,689

Restricted funds

Reo Stakis Foundation

40,000

-

40,000

Renfrewshire Chamber of Commerce

14,000

-

14,000

Clore Duffield Foundation

100,000

-

100,000

Antiquarian Horological Society

6,400

-

6,400

Aurelius Charitable Trust

4,800

-

4,800

Pilgrim Trust

18,000

-

18,000

The Woolbeding Charity

10,000

-

10,000

193,200

-

193,200

TOTAL FUNDS

788,113

(164,224

)

623,889