The trustees present their annual report and financial statements for the year ended 31 March 2025.
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 Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “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)” (as amended for accounting periods commencing from 1 January 2016)
The trust's objects are to advance citizenship and community development through the promotion of the wellbeing of the inhabitants of Logie Coldstone and District. This is being achieved by associating the local authorities, voluntary organisations and residents in a common effort to promote social activities and to foster community spirit.
The policies adopted in furtherance of these objects are that the trust undertakes the maintenance and management of Logie Coldstone public hall for the activities promoted by the trust and its constituent bodies and to carry out any extension of the premises or facilities provided which may at any time seem necessary or desirable and there has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Office of the Scottish Charity Register (OSCR) in deciding what activities the trust should undertake.
This year we began to see the benefits of the solar panels and storage batteries installed in the previous financial year, with reduced energy costs contributing to the hall’s long-term sustainability.
We also secured grant funding from Aberdeenshire Voluntary Action (AVA) through the Scottish Government’s Communities Mental Health & Wellbeing Fund. This supported our Connected Coldstone initiative — enabling us to continue offering free social groups and activities, and to begin developing a co-working hub for remote workers. The grant also helped us meet core costs including insurance, cleaning, and utilities, ensuring the hall remained open and accessible. We are very grateful for AVA’s support and the confidence they have shown in our work.
Community Events and Activities
A particular highlight was the Fun Games, organised by Julie and Laura along with many other volunteers, who helped to set up the event, run it on the day, and contribute in so many ways. Thank you to all for your energy, time, and dedication in making this event such a success.
The past year also included the Hogmanay Ceilidh, with lively music from Coldstone Roses, the duck race and the annual Morven Walk.
Our monthly Community Café, weekly walking groups, baby and toddler sessions, badminton, craft, gardening, and reading groups all continued to thrive. Attendance grew across all groups, with the café regularly welcoming over 50 adults and pre-schoolers — all made possible by the energy and dedication of our volunteers. These activities have helped reduce isolation, foster friendships, and support wellbeing across generations.
Challenges
Like many rural charities, we continue to face challenges around sustaining funding and attracting new volunteers. Rising costs and the need for ongoing maintenance remain key considerations. However, the energy savings from our solar installation and the AVA grant have provided a strong foundation for the year ahead.
During 2024–2025, the Trust and wider community devoted significant time, energy, and care to supporting Logie Coldstone School in the face of proposed mothballing. Trustees and volunteers led heartfelt efforts to preserve this vital part of community life, engaging elected representatives and contributing to a strong legal case. Although the school was ultimately mothballed in August 2025, the campaign reflected the very best of what our volunteers could offer—deep commitment, thoughtful advocacy, and tireless support. The emotional toll of this experience has been felt by many, and the hall has remained a vital space for connection and recovery across the generations.
The total income from fundraising is £3,333 (2024 - £2,784). Income from hall rental and community groups is £909 (2024 - £3,660). This reduction in income is due to the AVA grant which we received to support the community groups so no fees have been charged this year.
A grant of £10,000 was received from Aberdeenshire Voluntary Action to provide support for local groups and set up a home working hub in the hall. £3,000 has been deferred until 2026 accounts, as the costs for the Hub were paid in September 2025 Capital grant income released to the profit and loss to cover the depreciation costs of acoustic and solar panels amounted to £13,294 this year The total grant income in the accounts is £20,294 (2024 - £11,838).
Expenditure this year has been on routine hall maintenance, installation of a new cupboard for storage, insurance and electricity. Total expenditure costs for the year were £27,166 (2024 - £16,490). Included in this figure is depreciation of equipment £13,890 and governance costs £1,132.
Overall there was a surplus of £6,188 in unrestricted funds.
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trust is a company limited by guarantee.
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:
Trustees are appointed at the annual general meeting. The directors may at any time appoint any member to be a director (providing he/she is willing to act).
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The unrestricted fund represents the free reserves available to the charitable company to fulfil its primary objectives. The Trustees are satisfied that the charitable company is able to meets its liabilities.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the trust for the year ended 31 March 2025, which are set out on pages 5 to 15.
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.
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.
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:
to keep accounting records in accordance with Section 44(1)(a) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006
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.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Logie Coldstone Trust is a private company limited by guarantee incorporated in Scotland. The registered office is Rosewood, Raemoir Road, Banchory, Kincardineshire, AB31 4ET, United Kingdom.
The financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
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.
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.
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.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
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.
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources with depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Raising funds are the costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Governance costs include the cost attributable to the charity's compliance with constitutional and statutory requirements, including strategic management and trustee's meetings and reimbursed expenses.
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:
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.
The charitable company is exempt from corporation tax on its charitable activities.
Grants and donations
Grant
In 2025 and 2024 none of the donation and gifts received were attributable to restricted income funds.
In 2025 and 2024 none of the charitable rental income received was attributable to restricted income funds.
In 2025 and 2024 none of the fundraising events income received was attributable to restricted income funds.
Investments
In 2025 and 2024 none of the interest receivable was attributable to restricted income funds.
The insurance compensation is not attributable to restricted income funds.
Raising funds
Fundraising events
In 2025 and 2024 none of the fundraising events expenditure was attributable to restricted income funds.
Electricity
Insurance
Property repairs and maintenance
Computer costs
Printing, postage and stationery
Community group costs
In 2025 £2,980 (2024 - £2,980) of depreciation and impairment expenditure was attributable to restricted income funds.
Independent Examiner Fees
Filing fee
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year. The total of expenses that were reimbursed to three trustees during the year amounted to £285 (2024 - £972).
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
In 2025 and 2024 none of the debtors was attributable to restricted income funds.
In 2025 and 2024 none of the creditors was attributable to restricted income funds.
Deferred income is included in the financial statements as follows:
In 2024 grants were received from Energy Trust, Marr Partnership and SSE for the purchase of Solar panels and storage batteries. The solar panels and storage batteries are included in Plant and Equipment and the grant income has been deferred and released to profit and loss as these items are depreciated. In the year 31 March 2025 this amounted to £13,159 (2024 - £1,679).
In 2020 a grant amounting to £1,737 was received from Marr Area/Aberdeenshire Council for 50% of the purchase cost of acoustic panels for the hall. The acoustic panels are included in Plant and Equipment and the grant income has been deferred and released to profit and loss as the acoustic panels are depreciated, in the year ended 31st March 2025 this amounted to £135 (2024 - £159).
This year a grant of £10,000 was received from Aberdeenshire Communities Mental Health & Wellbeing. £3000 of this grant has been deferred until next year to cover the costs of the co working space which will be incurred in this year.
The company is limited by guarantee. It has no share capital.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
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.