The trustees present their annual report and financial statements for the year ended 30 September 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 charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Peebles Community Trust (PCT) was formed to benefit the community of Peebles, which comprises the area of the Community Council of The Royal Burgh of Peebles and District (the community), with the following objects to be exercised following the principles of sustainable development (where sustainable development means development which meets the needs of the present, without compromising the ability of future generations to meet their own needs).
the company's main purpose is consistent with furthering the achievement of sustainable development. To manage community land and associated assets for the benefit of the community and the public in general;
to provide, or assist in providing, recreational facilities, and/or organising recreational activities, which will be available to members of the community and public at large with the object of improving the conditions of life of the community;
to advance community development, including urban or rural regeneration within the community;
to advance the education of the community about its environment, culture, heritage and/or history; and
to advance environmental protection or improvement including preservation, sustainable development and conversation of the natural environment, the maintenance, improvement or provision of environmental amenities for the community and/or the preservation of buildings or sites of architectural, historic or other importance to the community.
Donated facilities and services
PCT has received pro bono services in connection with the planned refurbishment masterplan. The ReUse Hub benefits from the services of volunteers who work on a rota system to man the sales floor and process the donations. Eshiels Woodland benefits from the support of regular volunteers who donated many hours to keep the Wood in its best condition for the community. The Board of Directors offer a considerable amount of volunteering time.
PCT coordinates and provide a focal point for strategic direction for community action and development in Peebles and surrounding districts.
PCT leads and has taken forward and/or actively supported a number of key projects/ initiatives:
School Brae Hub
Eshiels Community Wood
Eddleston Water Path and wider Links Path project
Peebles Place Plan 2024 - 2034
March Street Mill allotments
East Station Car Park building
PCT provides ongoing support to community organisations in Peebles and surrounding districts (Cycling without Age, Peeblesshire Paths Group, Floral Peebles, Peebles Youth Voice). This support takes many forms and includes administrative assistance, handling funds and banking.
School Brae Hub
Peebles Community Trust (PCT) announced in 2024 its plans to demolish the ex-Servicemen’s Club building in School Brae, with an Options Appraisal presented to members for the re-development.
During the year the PCT Board have worked to develop the preferred options into a Development Brief. Assistance was provided by Turner & Townsend with the aim of progressing to the design stage via an architectural competition. The architectural competition was put on hold, following the interest of PCT in the former Bank of Scotland building on the High Street and resulting uncertainty as to the outcome of that.
The School Brae building remains open and occupied by the Re-Use Hub and other users.
Anchor Tenants
The Peebles and District Men’s Shed and the Peace and Justice Group remained tenants. Both groups are thriving.
Reuse Hub
The Reuse Hub has continued operations during the year. The income helps PCT to cover salaries, energy, insurance, supply match funding to this year’s construction and necessary repairs of the building’s fragile structure.
A Reuse Hub manager has been employed, with ongoing support from a dedicated team of part time employees and volunteers.
Former Bank of Scotland Building
The Bank of Scotland announced the closure of its Peebles High Street branch in January 2025 and the bank closed in May 2025. From the initial announcement in January, PCT identified the premises as a potential site to re-locate the Re-Use Hub to and Directors worked hard on identifying the options available in order to secure the building. Funding was sourced through a combination of a loan offer from Social Investment Scotland and PCT cash reserves. Selling agents (CBRE) carried out an open marketing campaign from May onwards, culminating in a likely closing date for offers in early October (closing date not announced as at the close of this period)
At the close of this period, PCT were working towards finalising an offer to be submitted at the closing date.
March Street Mill
PCT concluded missives on the purchase of the allotments site from Whiteburn Developments Ltd on 12 September 2025. A date of entry will be agreed with Whiteburn Developments once the housing development progresses. Discussions remain ongoing with the Allotments Association, with regards to a lease of the site from PCT to them.
Peebles Place Plan 2024 – 2034 (including the Peebles Town Action Plan)
The Peebles Place Plan and Peebles Town Action Plan were registered on 4 Feb 2025, following significant work and input from the Town Action Plan Team during the period.
East Station Carpark Building
The purchase of the East Station Carpark building was continuing in legals, following an application by PCT to Scottish Borders Council under a “Community Asset Transfer”.
Eshiels Community Woodland
The overarching objectives of PCT ownership of the Wood are:
1. Maintain the Wood in a safe condition
2. Protect and enhance biodiversity and the Current Shoot Borer Moth in particular
3. Develop an income stream from the Wood.
4. Develop the Wood in ways that add value to the Wood as a community asset commensurate with the other objectives.
The main objective for 2026 is to remove the brash following the felling of conifers and commence the restocking as per Management Plan now approved by Scottish Forestry.
Outcomes:
The main objective for 2025 was to prepare for and proceed with the felling and removal of the conifers and this major operation was carried out successfully. The preparation involved: (i) the finalisation of the Management Plan with Scottish Forestry, now approved; (ii) application for Felling Permission from Scottish Forestry and permisssion was granted for the planned removal of the conifers and a handful of hardwood trees to simplify extraction; (iii) detailed negotiation with SBC over the extraction route through Tip Wood and Eshiels Depot; (iv) plans for protection of the septic tank discharge pipe from houses to the north; (vi) search for contractors through PCT’s agents (Forest Direct). It appeared that despite the detailed planning that the conifers would be removed in 2025 until an offer was received, just over 2 weeks from the suggested start date. In this time window Michael Ireland on behalf of PCT prepared and oversaw a set of agrrements involving five parties: PCT, SBC, Forest Direct, Egger Forestry (the contractors) and the owner of the septic tank. The felling went ahead on time without hitches thanks to SBC who rapidly implemented the plans that had been made previously, Egger Forestry who carried out the work very efficiently to a high standard, and PCT volunteers who monitored and maintained the signage on the Tweed Valley Railway Path that had been closed for the duration, marked out the line of the discharge pipe, and marked out the sensitive areas occupied by the Currant Shoot Borer. Special mention among the volunteers should go to Ewan Sandison who oversaw the applications to Scottish Forestry and maintained close communication with SBC and Forest Direct throughout.
Not everything proceeded smoothly as it had been anticipated that the brash would be removed by another contractor directly after felling. However this did not happen and brash is still on the site, and removing it will be a key objective for 2026.
Plans for restocking were initiated, with very useful discussions with Borders Forest Trust. The income from the timber should cover the cost of restocking with the help of grants and initial concerns by the management group that the income received may be insufficient are much reduced.
The income from wood fuel sales from windblow and micro-scale felling of conifers in previous years reached £1125. These funds were for distribution to local groups and the groups chosen to receive £375 each were Peebles Paths Group, Peebles and District Men’s Shed and Tweeddale Red Squirrel Network.
The numbers of Currant Shoot Borer decreased a little in the April ’25 survey, but not significantly. The Currant Shoot Borer habitat wad been specially protected during the felling and was not damaged.
The management group works with 12 volunteers, and on average they donate more than 30 hours each month. A further set of volunteer recruits for helping with the replanting was obtained by manning a stall at the Peebles Wood Festival.
Challenges:
The main challenges for 2026 are (i) removing the brash followed, and (ii) financing, organising carring through the restocking. There are several sources of volunteers: PCT, Peebles and Cardrona Scouts, Lothian Countryside Volunteers, BFT, BFT/PHS Forest School all of whom have offered to help. The overall need is to plant 7,640 trees by June 2027.
Projects operating under the PCT Umbrella:
Peeblesshire Paths Group
The Group maintains the Tweed Valley Rail Path (TVRP) from Peebles to Cardrona and the Eddleston Water Path in conjunction with SBC. We have 36 members on a WhatsApp group which we use for communications and as member register The tasks are mainly vegetation management and liaison with Scottish Borders Council re their contribution. We also report issues to the SBC to improve the safety and accessibility of the path. This is ongoing year to year.
In 2024 we acquired a Kersten K1500 curtesy of a grant from Destination Tweed/NHLF. This has made a significant improvement in clearing path edges. We share this with Innerleithen and Walkerburn Community Trusts.
Currently we store many of our tools in a shed curtesy of Lawrie Hayworth. Our aim in 2026 is to obtain a container for tool storage which will make all, including the power tools, more accessible. To this we have applied for a grant and are in discussion with SBC.
Though the number of volunteers has increased we will continue recruiting. We will continue looking for sources of funding to ensure we can increase our level of support for the Peeblesshire paths.
From Jan to Dec 2025, 178.5hrs were logged. Average number of hours per month by volunteers was approximately 15 hrs.
Cycling without Age
CWA Peebles has two trishaw bikes and one wheelchair bike. We provide free of charge rides to disabled, vulnerable and socially isolated people in the Peebles community who would otherwise have limited access to the outdoors. We cover all age demographics, although our customers are predominantly older, and have never, to date, turned down a request for help.
We work primarily with Care Homes in Peebles including Dovecot, Whitestone Court, Riverside & Tweed Green. We also work with RVS and the Dementia Friendly Society. In addition, in 2025, we supported rides for the Green Gardens Day Centre who provide adult social care. We also took out some individuals from their homes when they contacted us directly. We plan to expand on this in 2026 and increase the availability of our rides to include people who may be more socially isolated and at home.
In 2025 we appeared on Border news (a reporter came to Peebles to film us) and we took part in the Eastgate Big Film night advertising CWA Peebles with one of our trishaws on stage. And, once again, we took part in the Beltane fancy dress parade with two bikes winning third prize for our ‘land girls’ theme. We are continuing our volunteer recruitment drive in 2026 using word of mouth, flyers and general outreach to individuals and organisations in the charity sector.
All our 20 volunteers time is given freely. No salaries or expenses are received by any volunteer including the new captain, Judith Denwood.
Our challenges, like most charities, is finding further active volunteers and of course funding. We were delighted to receive £250 from the Highland Games group in 2025 as well as some ad hoc donations from our satisfied customers.
In the summer of 2026, we will be moving to new premises at Caledonian Court kindly provided by Eildon Housing Association. This is a centrally located newly built garage which will allow CWA Peebles continued good access to the Peebles community it supports.
Floral Peebles
Floral Peebles feels it has had a successful year. Our funding is healthy, our volunteer numbers up on the previous year and we have gained more awareness in the community
Two new areas of Spring bulbs were planted and our Tribute garden in the Old Town is creating a lot of interest.
Our Safari Park continues to welcome more animals and humans.
2026 has started well with the parking fund financing the cost of hanging baskets, new tubs for the High Street and part of the extra bulbs required.
Peebles Youth Voice
A continued focus of PYV throughout this period has been to listen to, support and signpost the young people of Peebles High School via the School Hub which was set up in August 2023. Since its launch through to September 2025, PYV has engaged with almost 2,000 pupils and delivered 214 one-to-one support sessions.
Attendance 1:2:1
August – December 2023 457 46
Jan – April 2024 311 33
April – June 2024 243 34
September 24 – Feb 2025 540 50
March – September 2025 381 51
Totals 1932 214
The other main area of focus for Peebles Youth Voice has been on securing funding to modify the existing youth shelter in Victoria Park, which was installed in March 2024. A Youth Summit and subsequent consultation at Peebles High School shortly afterwards identified flaws with the original structure in terms of its comfort, weatherproofing, and privacy. Approval was sought by PYV for plans to be drawn up by the R-Evolve Metal Fabrication and Welding programme. Approval was given by Peebles Common Good in November 2025 for these plans to be drafted and to include the input of young people who have participated in the R-Evolve programme. Peebles Youth Voice will be aiming to secure suitable funding for this initiative and for work to commence in the Autumn school term of 2026. This work will largely be completed by the young people themselves, in the hope is that it will give them a sense of ownership over the shelter- something that was missing from the original installation.
Following the Board’s decision to pause the refurbishment of the School Brae Hub, securing further funding was put on hold.
The Reuse project continues to function and raise funds.
September 2025 saw the end of financial year and PCT’s fourth year for charitable reporting. The results for the year showed the Charity's total income from all sources increased from £92,834 to £95,488, an increase of £2,654. The overall expenditure also increased from £85,984 to £98,190, an increase of £12,206 from 2024. This has resulted in an overall deficit for the year of £(2,702) compared to a surplus of £6,850 in 2024. At 30 September 2025 the total funds balance was £528,049, comprising Unrestricted funds of £228,285 (2024 - £211,326) and Restricted funds of £299,764 (2024 - £319,425).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Board of Directors continue to oversee a rolling review of the organisation's vision and strategy to ensure it has clarity on its future direction and participation in future projects and activities.
The Board of Directors aim to continue to be a self-sustaining and financially secure organisation and ongoing work continues to ensure this is the case.
The Board of Directors recognise the need to have the necessary management experience and resource to provide the necessary oversight for PCT and its increasing range of activities. The Board are therefore continuously looking for new individuals to join the Board, or offer assistance on a project by project basis.
The Board of Directors are being supported in their strategy work by DTAS and other external expert bodies as necessary and this will consider various factors including structure, tax, resources, governance, funding and our role in supporting and delivering the community development priorities.
The charity is a company limited by guarantee, governed by its Article of Associations.
Charity registration number SC050520
Peebles Community Trust
The School Brae Hub
School Brae
PEEBLES
EH45 8AT
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:
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.
Trustees are appointed by election and co-option. One trustee is appointed by the Peebles Community Council.
The Board pushed to attract new Directors during this period, in the knowledge of an impending resignation of one Director at the end of this period.
One new Director was appointed during the period, with two more identified and in discussions with regards to appointment.
In the period, PCT has employed a part-time office administrator to assist with all administration aspects of the Trust.
A Re-Use manager has been employed to oversee and manage all aspects of the Re-Use Hub. Several part-time appointments have been made to Re-Use Hub assistants.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Peebles Community Trust (the charity) for the year ended 30 September 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The Institute of Chartered Accountants of Scotland
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Peebles Community Trust is a private company limited by guarantee incorporated in Scotland. The registered office is The School Brae Hub, School Brae, PEEBLES, EH45 8AT.
The financial statements have been prepared in accordance with the charity's [governing document], the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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 charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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.
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.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. All costs are expended through the unrestricted funds.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Consultancy fees
Printing, postage and stationery
Insurance
Subscriptions
Bank charges
Heat and light
Computer equipment
Rates
Repairs and maintenance
None of the trustees (or any persons connected with them) received any remuneration, expenses or benefits from the charity during the year.
The average monthly number of employees during the year was:
Key management positions are filled by two volunteer directors and no remuneration is received by them.
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Land and buildings comprises School Brae Hub and Eshiels Community Woodland. The School Brae Hub has been included in the financial statements at a directors' valuation of £180,000 and Eshiels Community Woodland at its cost of £37,514. No depreciation is charged on the heritable property as the directors consider it is increasing in value.
The revaluation surplus of £213,960 is disclosed in note 17.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
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.
There were no disclosable related party transactions during the year (2024 - none).