The trustees present their annual report and financial statements for the year ended 31 March 2026.
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.
It is a privilege to present my report as Chairperson of the Logie Coldstone Trust for the year 2025-26. In the past we have held our AGM towards the end of the year, but after listening to your feedback we have moved it to September so that we are reporting on events closer to the time.
As I look back over the year, one word that continues to stand out is community. Logie Coldstone may be a small village, but once again we have shown that we have a huge amount of energy, commitment and community spirit.
This has also been a year of considerable change and, at times, sadness. The mothballing of Logie Coldstone Primary School has undoubtedly left a noticeable gap in village life. The absence of children, the school gates and the daily activity around the school has changed the character of the village. The school was much more than a building—it was an important part of the community and a place where generations of local families shared experiences.
The Trust, alongside parents and members of the wider community, worked incredibly hard to challenge the decision to mothball the school. This eventually led to the Trust taking the extraordinary step of pursuing a Judicial Review at the Court of Session.
Three members of the Trust represented the community in court, taking on what was, quite frankly, a daunting challenge. The work involved Freedom of Information requests, extensive research, preparation of legal documents and many long evenings. Although the court did not order the school to reopen, the judgment acknowledged that the Trust’s argument regarding the requirement for proper consultation had merit.
While we did not achieve the outcome we wanted, I am immensely proud of the way the Trust and the wider community responded. We stood up for our village, we challenged the process and, most importantly, we refused simply to accept what was happening without a fight.
The school may currently be quiet, but the community certainly is not.
The Community Hall
At the heart of our community remains the Logie Coldstone Hall.
The hall continues to be used by a wide variety of groups, including walking, badminton, crafts, gardening, reading, baby and toddler activities and the Rural/WI. The monthly Community Café remains particularly important, providing a regular opportunity for people of all ages to meet, chat and catch up.
The Café is a fantastic example of what can be achieved through volunteering. A dedicated group gives their time to set up, bake, serve and tidy away, creating a welcoming environment for everyone who comes through the door. My sincere thanks go to all those volunteers.
The Trust was also delighted to secure further funding from the Communities Mental Health and Wellbeing Fund, helping us keep many activities free and accessible to the community.
A New Co-Working Hub
One of the exciting projects this year has been the creation of our new co-working hub upstairs in the hall.
Supported by funding from the Communities Mental Health and Wellbeing Fund, the hub is now fully operational and provides a quiet and flexible space for home workers, students and others who need somewhere to work, study or simply get things done.
What I particularly like about this project is the community effort behind it. Volunteers came together to build desks, chairs and tables, demonstrating once again that we don't always need to pay someone else to make things happen—we have an enormous amount of talent and willingness within our own community.
Events and Activities
Our events continue to be an important part of village life.
The Morven Walk once again provided a great opportunity to get out into the countryside, followed by an enjoyable evening at the Airedale.
The Fun Games remained one of the highlights of the community calendar, bringing people of all ages together for an afternoon of fun and competition. It was particularly special that the children of Logie Coldstone School were able to raise the flag at the 2025 games.
We also enjoyed another hugely successful Burns Supper, hosted by the Airedale for the first time in 2025. It was completely sold out and provided an excellent evening of food, music and entertainment.
Events such as this don't happen without a lot of people working behind the scenes, and I want to thank everyone who contributed.
The Curling Club continues to play an important role in the community, with its long history stretching back to 1893. The Club is also undertaking some refurbishment of the clubhouse and pond lighting, which will hopefully enhance the facilities for future generations.
Groups and Volunteers
One of the great strengths of Logie Coldstone is the number of people who quietly give their time to make things happen.
From the Community Café and Craft Group to the Gardening Club, Reading Group, Walking Group, Badminton and the Rural/WI, there are numerous opportunities for people to meet, participate and make friends.
The Gardening Group in particular is a good example of the informal nature of our community. It may not always result in perfectly manicured flower beds, but it provides an opportunity to meet, have a blether, share ideas and keep the village grounds looking their best.
I would also like to acknowledge the many people who contribute behind the scenes—whether that is organising events, completing grant applications, managing bookings, cleaning the hall, preparing minutes, producing newsletters, maintaining the grounds or simply turning up when something needs doing.
Thank You to Our Trustees
A Chairperson is only as effective as the team around them, and I am extremely fortunate to work with such a committed group of trustees and volunteers.
This year we said farewell to Evie Smith, who retired from the Trust after many years of service. Evie made a significant contribution to the Trust and the wider community, and I would like to put on record our sincere thanks for everything she has done.
We also said goodbye to Paul Mather as a trustee. Paul made a major contribution, particularly through his work on the solar panel and battery installation at the hall. His commitment to environmental sustainability and his determination in securing funding and delivering the project have left a lasting benefit for the community.
I would also like to thank Pat, Gillean, Joyce, Anne, Sandra, Julie, Katrina, Sylvia, Sue and Trevor for everything they contribute, together with everyone else who gives their time to the Trust and to Logie Coldstone.
Looking Forward
The challenge for us now is to continue building a strong and active community despite the loss of the school.
That makes the work of the Trust more important than ever.
We have a fantastic community hall, an increasing range of activities, new opportunities such as the co-working hub, regular social events and, most importantly, a group of people who are prepared to roll up their sleeves and make things happen.
The Trust will continue to look for opportunities to attract funding, develop the hall and its facilities, support community groups and create activities that bring people together.
We must also continue to keep the future of Logie Coldstone Primary School firmly on the agenda. The school may be mothballed, but the community has not forgotten it. As the newsletter says, any move towards permanent closure will require consultation, and we will be ready to ensure that the community's voice is heard.
Finally...
I would like to finish by saying a huge thank you.
Thank you to the trustees, volunteers, community groups, event organisers, fundraisers and everyone who simply turns up and supports what we do.
The Trust exists to foster active citizenship, social activities, community spirit, wellbeing and development, and to manage the hall for the benefit of the community.
I believe this year has demonstrated exactly why that matters.
Logie Coldstone has faced some significant challenges, but we have responded with determination, humour and a willingness to get stuck in.
The school may have gone quiet, but Logie Coldstone has not.
Long may that continue.
The total income from fundraising is £3,357 (2025 - £3,333). Income from donations is £4,109 (2025 £2,659)
Income from hall rental and community groups is £684 (2025 - £909). This year we also received income from solar panels £640 and compensation from BT £172 .
A grant of £12,000 (2025 £10,000) was received from Aberdeenshire Voluntary Action to provide support for local groups. The £12,000 has been deferred until 2027 accounts, as it relates to costs incurred after 1 April 2026. Capital grant income released to the profit and loss to cover the depreciation costs of acoustic and solar panels amounted to £11,511 this year The total grant income in the accounts is £11,511 (2025 - £20,294).
Expenditure this year has been on routine hall maintenance, insurance and electricity. Total expenditure costs for the year were £24,540 (2025 - £27,166). Included in this figure is depreciation of equipment £15,041, loss on disposal of obsolete equipment £130 and governance costs £1,160.
Overall there was a deficit of £3,963 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 2026, which are set out on pages 7 to 17.
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 2026 and 2025 none of the donation and gifts received were attributable to restricted income funds.
In 2026 and 2025 none of the charitable rental income received was attributable to restricted income funds.
In 2026 and 2025 none of the fundraising events income received was attributable to restricted income funds.
Investments
In 2026 and 2025 none of the interest receivable was attributable to restricted income funds.
Other income is not attributable to restricted income funds.
Raising funds
Fundraising events
In 2026 and 2025 none of the fundraising events expenditure was attributable to restricted income funds.
Electricity
Insurance
Property repairs and maintenance
Computer costs
Printing, postage and stationery
In 2026 £2,980 (2025 - £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 £287 (2025 - £285).
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
In 2026 and 2025 none of the debtors was attributable to restricted income funds.
In 2026 and 2025 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 2026 this amounted to £11,025 (2025 - £13,159).
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 2026 this amounted to £115 (2025 - £135).
Last year a grant of £10,000 was received from Aberdeenshire Communities Mental Health & Wellbeing. £3000 of this grant had been deferred to cover the co working hub costs. It has been released this year.
This year the first year grant of £12,000 from Aberdeenshire Communities Mental Health & Wellbeing has been deferred. The grant covers the period 1 April 2026 to 31 March 2028 - another £12,000 is due next 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.