REGISTERED COMPANY NUMBER: SC094166 (Scotland)

REGISTERED CHARITY NUMBER: SC014379

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

The Garret Mask And Puppet Centre Trust

Limited

Page

Report of the Trustees

1

to

7

Independent Examiner's Report

8

Statement of Financial Activities

9

Balance Sheet

10

to

11

Notes to the Financial Statements

12

to

19

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

1.

To advance public education and awareness by promoting, maintaining and advancing the arts of puppetry, mask and mime in both their classical and modern forms in Scotland and elsewhere.

2.

To establish a centre in Scotland for the dissemination and communication of information, experience, ideas and skills relevant to the arts of puppetry, mask and mime.

3.

To contribute to public aesthetic education in Scotland.

4.

To create a museum and documentation centre for the gathering, preservation, curation and management of collection and archive materials.

Mission Statement

To maintain the sustainable growth and development of the Scottish Mask & Puppet Centre as a permanent theatre, museum and education institute at local, regional, national and international levels by the quality of our work, combined with forward planning, exemplary partnerships, training initiatives, creative projects, intercultural exchanges and in the interest of promoting cultural democracy and access by the common weal of Scotland.

Significant activities

The managerial responsibilities underpinning the major activities of the organisation include strategic planning, programme development, accountability to funders and stakeholders, staff management, monitoring and evaluation of the work of the charity, relations with local groups and relevant national organisations, managing the charity's property and land, managing the charity's public relations, contracting and tendering.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The main areas of charitable activity are the provision of services by the charity at the Scottish Mask & Puppet Centre which include a public programme of events, performances, workshops, exhibitions, festivals, training sessions, maintenance of an archive and documentation centre, curation of collection materials, research and publication activities and an educational and therapeutic outreach service. In addition the Company promotes touring exhibitions to museums and galleries in the UK and Ireland and assists those organisations in formulating performance and workshop programmes.

FINANCIAL REVIEW

Principal funding sources

Over the past 40 years the Charity, with the aid of sound financial management and the support of its board, independent advisers, staff, volunteers and friends of the centre, has established a unique resource for Scotland.

On 16th March 2020 all the income previously generated from earned income (box office, workshop and training fees, cafe, touring exhibitions, studio hire, workshop rental, craft commissions) came to an abrupt halt due to closure by Covid-19.

This reality led us to reconsider our role and function as given and to rest the organisation in terms of service delivery and necessary social restrictions. Our studio theatre was too small (90 seats) and no longer economically viable to present shows from visiting companies within social distancing guidelines. We therefore decided to transform this studio into a new dual purpose theatre/ museum gallery with a long-term view of re-opening down the line.

Thanks to the Recovery and Resilience Programme of Museums and Galleries Scotland (MGS) and a grant of £22,495 (2020) and another of £23,219 (2021) we have been able to strike the theatre with its associated stage and seating, to purchase and install a new vinyl floor, to repaint and decorate and to renovate our exhibition lighting. This has also led us to commence the design and installation of new display cabinets, text panels and banners and to bring out new displays of objects from our collection materials. In order to facilitate changing exhibitions in the future and ease of access to our stores above in the tower we have also purchased and installed a new electric loft ladder.

MGS have also enabled us to convert our box office into a shop for sale of mask and puppet goods and to modernise and refurbish our café and kitchen to museum standard with an eye on future sales development. Our Archive Room has been relocated into a larger space and equipped with a high- grade computer for accessioning, cataloguing and desktop publishing. Funding has also been provided for the creation of a museum brochure, calendar and range of postcards and mask and puppet kits.

Equally, thanks to the Performing Arts Relief Fund of Creative Scotland and a grant of £50,000 (2020) and another grant of £54,432, we have been able to support and protect our core staff while initiating a series of creative projects with our freelance artists and collaborators. In the first phase of this work between 31st December 2020 to 31st March 2021 we delivered a Commedia Mask-Making in Leather project with Francesca Marini and Dr David Griffiths; the John Neill Toy Theatre Commission with model-builder, David M. Allan; the design and production of a series of mask and puppet packs for schools with Camille Morin; and the artwork and design of a new publication on Mask Praxis. Theories and Practices of the Mask in Modern Drama by Malcolm Knight assisted by Dima Nowarah.

In the second phase of this work during 2021we have been able to further develop the Commedia leather mask-making of Ninian Kinnier-Wilson with Izabela Nakonneczna, Giada Gentile and Francesca Marini. Funds have also been used to facilitate the on-going publication of Dr,Alison Hennesey's biography of Walter Wilkinson. Our Collection of Indian Shadow Puppets from Gujurat made by Mahipat and Leela Kavi have been restored and repainted by Francesca Marini from Ary Gallery in Brescia Italy. The continuing research into the masks of Menander is being carried out in partnership with Adriano Iurissevich of Venezia InScena, the Aeolian Museum on Lipari, Professor Elisabetta Matelli of the Catholic University in Milan and Kelvingrove Museum in Glasgow (The Stevenson Collection).

On a negative note, our principal source of funding over the last eleven years in the form of Glasgow City Council Integrated Grant Fund (IGF) finally came to an end with its closure on 30th September 2020. A loss of £13,500p.a. We also missed out on the launch of the new Community Fund with its change of terms and conditions until it is next open for applications in 2023. Fortunately the GCC Area Fund for Ward 23 was able to provide a small grant of £5897 towards the on-going building renovation and to support the purchase and installation of a new CCTV security system around the building

On a positive note, however, we received an unexpected funding boost of £6800 from Visit Scotland's Visitor Attraction Support Fund in March 2021 to tide us over until we are able to open

Owing to the pandemic we also lost the involvement and hire fees from The Scottish Conjurers Association who have become our friends and customers over the past thirteen years..

However. thanks should be extended to Grant Mason of Grant Mason FX for continuing to devise and create such wonderful creatures, monsters and make-up effects from his workshop in servicing Scotland's film and television industry and for all his help maintaining the building when we have been closed.

Our building development project The Depot also had to go on hold during the year and we were unable to go forward with our Planning Application and collaborations with our Theatre Consultant, Mr. John Parkinson of Up-Front Arts and Puppet Theatre in Penrith and Mr John-Paul Rogers of The Architects Design Ltd.

In 2024-25 we were once again supported by visiting companies from across the UK in presenting an annual programme of children and family shows, workshops and special events. We also opened a new gift shop and introduced a more varied café menu.

In addition, we wish to give special thanks to Dima Nowarah, Seonagh Haynes Tina Kinsey, David Allan, Alison Fraser, Sissel Tiemeyer, Stef Gardner, Max Flores, Grant Mason, Izabela Nakoneczna, Olivia Mather and Max Flores, Preston Clarefor their support as volunteers. A special acknowledgement to another volunteer from Italy, artist and creator, Francesca Marini for keeping the contact during her mentorship in 2020-21. Major thanks to all our neighbours and all our other volunteers for their many kindnesses and invaluable assistance.

Reserves policy

The Trustees have financial responsibilities for monitoring the accounts of the Company according to accounting rules and regulations, approving and monitoring budgets, exercising control over income and expenditure and managing any reserves; fundraising policy and activities, charity law and trading activities; the tax affairs of the charity; managing investments; insurance; preventing and detecting fraud and other irregularities.

The charity generated a surplus of £5,929 (2024 - £3,435 deficit). The total of unrestricted funds at the year end 31st March 2025 was £153,382 (2024 - £147,453). The total of restricted funds at the year end 31st March 2025 was £6,400 (2024 - £6,400).

The Trustees have estimated that the level of free reserves (that is those funds not tied up in fixed assets, restricted or designated funds) the charity still requires to sustain its operations represents three to six months running costs. They estimate this would be £15,000 - £25,000.

The free reserves at 31st March 2025 were £144,514 (2024 - £138,585).

FUTURE PLANS

The charity plans continuing the activities outlined above in forthcoming years subject to satisfactory funding arrangements being in place. Plans are also being developed to work on a number of schemes in partnership with local authorities in the UK and Ireland involving training and professional development.

The Board still aims to raise funds for capital improvements to the existing building and to create enhanced conditions for building developments on site. Up-Front Arts (John and Elaine Parkinson) are generously their services as theatre consultants to re-shaping The Depot Project for our new theatre and education room with a view to shared future programming and exhibitions. The trustees are also examining the potential pros and cons of constituting the organisation as a registered museum. Partnership relations with Puppeteers UK, Puppet Link, British UNIMA, the British Puppet and Model Theatre Guild, the Punch and Judy Fellowship and The International Federation of Centres for Puppetry Arts are on-going.

In January 2012, SMPC was appointed as the lead agency in Scotland for "The Big Grin" national project celebrating 350 years of Mr. Punch by Puppet Link in partnership with Heritage Lottery and the Victoria and Albert Museum. In 2014 the Centre became a community-based legacy project for the forthcoming Commonwealth Games and successfully implemented a Celebrate Project with the Indian, Pakistani and Bangladeshi communities in Glasgow and The Glasgow Mela. In 2017-18 we completed our revised Architectural Drawings, Business Plan and Financial Projections and held our first public consultation on March 24th 2017 in preparation full a full Planning Permission Application. This has been held in abeyance by our Board of Directors pending discussions with GCC and Glasgow City Properties Ltd about transfer of ownership to our Trust.

Prior to March 2020, SMPC was positioning itself as a long-term arts and cultural destination venue for Scotland while extending its links to Jobs and Business Glasgow, GCC Community Planning and other voluntary organisations and national agencies.

The new plans will require further significant capital fund-raising if targets are to be met. Unfortunately the Centre had to close for an indefinite period from 16th March 2020 onwards owing to the pandemic. In spite of losing our long-standing core-funding from the GCC Integrated Grant Fund we are intending to applied to the new GCC Communities Fund in September 2022 for 3-year funding but were rejected. In 23-24 we shall be applying to Creative Scotland to their Extended Programme Fund and remain optimistic about the future.

In 2020-21 had great success in seeking alternative Business Support and Relief and Recovery Funding from Museums & Galleries Scotland, Creative Scotland, Visit Scotland and Glasgow City Council. This has allowed us to make long overdue improvements and renovations to the Centre and to establish a financial buffer into the future while maintaining our core relationships and encouraging new network developments and partnerships. All in all, this is perhaps not a bad outcome following a period of such lockdown trauma. It remains to be seen how we can deal with the effects of vaccine passports, and immigration controls over international visiting companies on our public profile since mask and puppet work has always been part of a global movement towards peace, health and freedom.

During 2022-23 we placed the emphasis on earned income via our shows, workshops, events, café and shop. Audiences and participants have come back and we have held our own without any grant aid. Our Magic of Masks and Puppets Touring Exhibition at Ushaw House in Durham 1st July-10th September received 12,346 visitors over a ten week period. We have been collaborating with the University of Glasgow and Hyndland Secondary School on a mini-AHRC funded interdisciplinary project called Masks across Anatomy, Anthropology, Theatre and The Visual Arts directed by Elisa Segnini, Senior Lecturer and Italian Programme Director. We continue to work closely on networking through PuppeteersUK; and are also in discussion about possible collaborations with the Curious Puppet School (London) during 2025-2028. In terms of our Publication Portfolio the biography on Walter Wilkinson by Dr Alison Henessey is nearing completion thanks to all the collaborative work on editing, artwork and design by Dima Nowarah and Malcolm Knight. We are also working with the Royal Conservatoire of Scotland to explore closer integration of puppet and mask work into their theatre curriculum.

2024-25 has been a busy year for ongoing partnership initiatives with Doors Open Days (Glasgow Building Development Trust, Glasgow International Comedy Festival and WestFest. Our Trust has hosted The Scottish Conjurers Association (founded 1924) and their library for the past 15 years and we were delighted to be invited to celebrate their centenary with them. Thanks also to Vijay and Fiona Kanjutkar and Suhas Mitra for their Indian Music Concert last October and to the Department of Italian in Glasgow University and the Italian Consulate for bringing puppeteer Mimo Cuticchio and his Sicilian Marionettes to our Centre. In December our collaboration with Partick printer and bookbinder Downie Allison Downie produced a new publication to be added to our publishing portfolio: On The Verge; the Wonderful World of Walter Wilkinson which is already selling well.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 1985.

The organisation is a charitable company limited by guarantee with no share capital, incorporated on the 5th July 1985 and was registered as a charity on 15th July 1985 (SCO14379). The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the Company being wound up and liquidated members are required to contribute an amount not exceeding £5. The registered office of the organisation is: The Scottish Mask and Puppet Centre, 8-10 Balcarres Avenue, Kelvindale, Glasgow G12 0QF.

This office is located within a dedicated building owned by Glasgow City Council and secured by the Company on a long-term lease for a period of ninety-nine years.

Organisational structure

The directors of the company are also charity trustees for the purposes of charity law and under the Company's Articles are known as members of the Council of Management. The Board may comprise not less than two and not more than twenty members. Governance responsibilities for the strategy and future direction of the organisation rest with the Board. Corporate decision-making that affects the day-to-day operation of the organisation are delegated to the Executive Director and Centre Manager.

The charity subscribes to the best practice recommendations as published in Good Governance: A Code for Voluntary and Community Organisations published by the NCVO Charity No.225922 available from www.governance.org.uk. These recommendations are codified within seven principle areas: Board Leadership; Board in Control; The High Performance Board; Board Review and Renewal; Board Delegation; Board and Trustee Integrity; and Board Openness. The directors of the company operate as a Board 'fit for purpose' in accord with the aims and objectives specified within the Memorandum and Articles. Their responsibility is to act with care and diligence, to regularly review strategy, policies and activities; and to act in compliance with health and safety laws and regulations, company law, data protection law, and employment law if employing staff.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Throughout the year, the Company's principal activities consisted of providing performances, exhibitions, workshops, birthday parties, in-service training, information and advisory services to local, national and international groups and to the general public in the field of puppet theatre, mask, mime, physical theatre and magic.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC094166 (Scotland)

Registered Charity number

SC014379

Registered office

8-10 Balcarres Avenue

GLASGOW

G12 0QF

Trustees

Professor E A Moignard Academic

R B Brunton CA Chartered Accountant

A R Proctor Professional Entertainer

Ms J R McColl Freelance Designer

T D Burn Professional Actor

J M Gilmour Photographer

P Birchard Professional Actor

M V Flores Electrical Engineer

Company Secretary

Dr M Y Knight

Independent Examiner

Raymond Henry

The Kelvin Partnership Ltd

Chartered Accountants

The Cooper Building

505 Great Western Road

Glasgow

G12 8HN

Independent Adviser

S Lee (Hon. Treasurer)

Approved by order of the board of trustees on 23 December 2025 and signed on its behalf by:

Dr M Y Knight - Secretary

I report on the accounts for the year ended 31 March 2025 set out on pages nine 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.

Raymond Henry

The Institute of Chartered Accountants in England and Wales

The Kelvin Partnership Ltd

Chartered Accountants

The Cooper Building

505 Great Western Road

Glasgow

G12 8HN

23 December 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

1,133

-

1,133

2,112

Charitable activities

3

Mask and puppet theatre

62,987

4,000

66,987

64,715

Total

64,120

4,000

68,120

66,827

EXPENDITURE ON

Charitable activities

Mask and puppet theatre

58,191

4,000

62,191

70,262

NET INCOME/(EXPENDITURE)

5,929

-

5,929

(3,435

)

RECONCILIATION OF FUNDS

Total funds brought forward

147,453

6,400

153,853

157,288

TOTAL FUNDS CARRIED FORWARD

153,382

6,400

159,782

153,853

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

7

3,877

-

3,877

3,877

Heritage assets

8

25,874

-

25,874

25,874

29,751

-

29,751

29,751

CURRENT ASSETS

Stocks

9

49,284

-

49,284

39,468

Debtors

10

-

-

-

1,300

Cash at bank and in hand

77,458

6,400

83,858

85,341

126,742

6,400

133,142

126,109

CREDITORS

Amounts falling due within one year

11

(3,111

)

-

(3,111

)

(2,007

)

NET CURRENT ASSETS

123,631

6,400

130,031

124,102

TOTAL ASSETS LESS CURRENT LIABILITIES

153,382

6,400

159,782

153,853

NET ASSETS

153,382

6,400

159,782

153,853

FUNDS

12

Unrestricted funds

153,382

147,453

Restricted funds

6,400

6,400

TOTAL FUNDS

159,782

153,853

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 23 December 2025 and were signed on its behalf by:

R B Brunton CA - 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, 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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

£

Donations

1,133

2,112

3.	INCOME FROM CHARITABLE ACTIVITIES

31.3.25

31.3.24

Mask and

puppet

Total

theatre

activities

£

£

Box office

37,327

31,267

Café parties

5,334

4,356

Exhibitions

-

5,682

Grants

4,000

-

Rental workshops

3,250

4,672

Studio hire

3,061

1,839

Workshops

10,221

7,020

Shop

3,794

9,879

66,987

64,715

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

31.3.25

31.3.24

£

£

Glasgow City Council - Area Fund

4,000

-

4.	NET INCOME/(EXPENDITURE)

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

31.3.25

31.3.24

£

£

Depreciation - owned assets

969

969

5.	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.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2,112

-

2,112

Charitable activities

Mask and puppet theatre

64,715

-

64,715

Total

66,827

-

66,827

EXPENDITURE ON

Charitable activities

Mask and puppet theatre

31,946

38,316

70,262

NET INCOME/(EXPENDITURE)

34,881

(38,316

)

(3,435

)

RECONCILIATION OF FUNDS

Total funds brought forward

112,572

44,716

157,288

TOTAL FUNDS CARRIED FORWARD

147,453

6,400

153,853

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

76,698

54,660

300

131,658

Additions

969

-

-

969

At 31 March 2025

77,667

54,660

300

132,627

DEPRECIATION

At 1 April 2024

72,821

54,660

300

127,781

Charge for year

969

-

-

969

At 31 March 2025

73,790

54,660

300

128,750

NET BOOK VALUE

At 31 March 2025

3,877

-

-

3,877

At 31 March 2024

3,877

-

-

3,877

8.	HERITAGE ASSETS

Total

£

MARKET VALUE

At 1 April 2024 and 31 March 2025

25,874

NET BOOK VALUE

At 31 March 2025

25,874

At 31 March 2024

25,874

The National Art Collection Fund awarded a grant of £7,245 towards the cost of buying selected mask and puppets from The John M. Blundall Collection which was auctioned by Lyon & Turnbull auction house in Edinburgh on 28th February 2018. Our sincere thanks and appreciation to Senior Programme Manager, Eleanor McGrath, for enabling us to keep some of the best items in Scotland for public enjoyment and appreciation.

This has been disclosed in Heritage Assets at £2,494, the cost of acquisition £9.739 less the grant awarded £7,425.

In the year to 31 March 2009 the trustees revalued the extensive library held by the charity. The library consists of over 6,000 books and is shown at the trustees' estimate of the market value.

The full valuations were performed by the trustees. The existing use value of the library does not include notional directly attributable aquisition costs. The open market value of the library is determined before the deduction of expected selling costs.

The trustees are not aware of any material change in value and therefore the valuations set above have not been updated.

9.

STOCKS

31.3.25

31.3.24

£

£

Stocks

49,284

39,468

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

-

1,300

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

1,538

507

Accruals and deferred income

1,573

1,500

3,111

2,007

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

138,585

5,929

144,514

Building Appeal

8,868

-

8,868

147,453

5,929

153,382

Restricted funds

Building Appeal

6,400

-

6,400

TOTAL FUNDS

153,853

5,929

159,782

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

64,120

(58,191

)

5,929

Restricted funds

Glasgow City Council Area Partnership

4,000

(4,000

)

-

TOTAL FUNDS

68,120

(62,191

)

5,929

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

£

£

Unrestricted funds

General fund

103,704

34,881

138,585

Building Appeal

8,868

-

8,868

112,572

34,881

147,453

Restricted funds

Building Appeal

6,400

-

6,400

Creative Scotland PAVR Fund

38,316

(38,316

)

-

44,716

(38,316

)

6,400

TOTAL FUNDS

157,288

(3,435

)

153,853

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

66,827

(31,946

)

34,881

Restricted funds

Creative Scotland PAVR Fund

-

(38,316

)

(38,316

)

TOTAL FUNDS

66,827

(70,262

)

(3,435

)

Building Appeal

The organisation was awarded a maximum grant of £100,000 from the Small Capital Fund of Creative Scotland in January 2013 towards the creation of a new studio space called The Depot for theatre, dance, music, television and film recording.

The award is conditional upon confirming partnership timetable funding and the raising of matching funds from other funding sources and to date of signing these accounts no funding has yet been received.

The charity has made an appeal to members of the public and to charitable trusts to raise matching funds.

13.	RELATED PARTY DISCLOSURES

During the year the company incurred costs in respect of artistes' fees for a variety of projects.

These costs included;

£4,543 (2024 - £5,407) paid to Mascot, a company owned by Dr M Knight (company secretary).

£5,650 (2024 - £5,294) paid to S Lee, Honorary Treasurer, for administration of the centre.