REGISTERED COMPANY NUMBER: SC342994 (Scotland)

REGISTERED CHARITY NUMBER: SC034162

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 January 2026

for

Fetterangus Community Association

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

13

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 January 2026. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The main objectives of 'Fetterangus Community Association' as laid down in the Memorandum & Articles of Association are as follows:

i) To provide within Fetterangus recreational facilities, or organise recreational facilities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended.

ii) To advance education and in particular to promote opportunities for learning for the benefit of the general public in particular renewable energy and energy savings.

iii) To advance environmental protection and improvement in Fetterangus through the provision, maintenance and/or improvement of public open space and other public amenities and other environmental and regeneration projects (but subject to appropriate safeguards to ensure that the public benefits so arising clearly outweigh any private benefit conferred on private landowners).

iv) To promote, establish, operate and/or support other similar schemes and projects of a charitable nature for the benefit of the community within Fetterangus.

v) To prevent or relieve poverty, in particular fuel poverty, among residents of Fetterangus.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The village orderly scheme has been maintained throughout the period, which is generally supported by way of funding from Aberdeenshire Council.

The Association assumed responsibility for the village hall in 2013/14 and management of the village hall has continued throughout the year ended 31 January 2026. The hall restoration was completed in 2018 for phase 1. The Sports pavilion was completed in 2019.

The Association completed construction on our new playpark in June 2025 located at the old bowling green. It has proved very popular and is highly appreciated by all of the community.

During the year the Association have completed a small project in a memory garden, including a pond, winding path and trees. This lies adjacent to the cemetery and has also proved a great success with the community.

FINANCIAL REVIEW

Principal funding sources

During the year, donations of £1,000 was received to the General Fund from Mintlaw Boys Club and also donations totalling of £228,000 from Fetterangus Power Limited.

All donations are gratefully acknowledged.

The association reported an overall surplus of £192,101 for the year per the Statement of Financial Activities (SOFA).

In addition to donations, the General Fund is to be maintained by way of gifts from the company of Fetterangus Power Ltd.

Reserves policy

The Trustees regularly review the risks to which the charity is exposed to ensure that adequate funding is in place for proposed projects.

FUTURE PLANS

Fetterangus Community Association undertook a project to erect a wind turbine and a separate company, Fetterangus Power Ltd, was set up for the purpose of the operation of the turbine. The turbine became operational in December 2013 and, when funds are available, income from the turbine is gifted to the Association to help fund community projects within the village and surrounding area.

From the funding obtained, the hall refurbishment programme will continue together with other projects for the benefit of the village as a whole.

The Association is in the process of planning a village square regeneration, and are also in the community engagement stage for the renovation of our degraded tennis courts to bring them back in to use.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing documents, Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC342994 (Scotland)

Registered Charity number

SC034162

Registered office

Fetterangus Hall

Ferguson Street

Fetterangus

Peterhead

Aberdeenshire

AB42 4HD

Trustees

Mr N A Burnett Instrument Technician

Miss V A Fry Cartographer

Miss C Strachan Manager

Mr M Reid (appointed 2.3.26)

Independent Examiner

Peter Manson, CA, CTA

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

COMMENCEMENT OF ACTIVITIES

Fetterangus Community Association was formerly set up as an unincorporated organisation and amended its constitution to that of a company limited by guarantee on 16th May 2008.

Approved by order of the board of trustees on 26 October 2026 and signed on its behalf by:

Mr N A Burnett - Trustee

I report on the accounts for the year ended 31 January 2026 set out on pages four to thirteen.

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.

Peter Manson, CA, CTA

The Institute of Chartered Accountants of Scotland

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

26 October 2026

31.1.26

31.1.25

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

230,423

1,879

232,302

294,507

Other trading activities

2

13,795

-

13,795

12,258

Total

244,218

1,879

246,097

306,765

EXPENDITURE ON

Charitable activities

Brighter Village & Orderly Scheme

-

592

592

399

Village Christmas Lights

-

645

645

105

Hall expenses & wages

22,866

-

22,866

21,413

Sundry Expenses

736

66

802

1,524

Village Maintenance

-

3,912

3,912

748

Hall repairs & maintenance

2,778

-

2,778

3,619

Donations

1,200

-

1,200

844

Other

15,992

5,209

21,201

19,743

Total

43,572

10,424

53,996

48,395

NET INCOME/(EXPENDITURE)

200,646

(8,545

)

192,101

258,370

Transfers between funds

13

(130,772

)

130,772

-

-

Net movement in funds

69,874

122,227

192,101

258,370

RECONCILIATION OF FUNDS

Total funds brought forward

459,687

61,354

521,041

262,671

TOTAL FUNDS CARRIED FORWARD

529,561

183,581

713,142

521,041

31.1.26

31.1.25

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

7

503,037

142,560

645,597

515,089

Investment property

8

63,944

-

63,944

-

566,981

142,560

709,541

515,089

CURRENT ASSETS

Debtors

9

4,263

-

4,263

3,786

Investments

10

2

-

2

1

Cash at bank

-

42,924

42,924

63,003

4,265

42,924

47,189

66,790

CREDITORS

Amounts falling due within one year

11

(41,685

)

(1,903

)

(43,588

)

(60,838

)

NET CURRENT ASSETS

(37,420

)

41,021

3,601

5,952

TOTAL ASSETS LESS CURRENT LIABILITIES

529,561

183,581

713,142

521,041

NET ASSETS

529,561

183,581

713,142

521,041

FUNDS

13

Unrestricted funds

529,561

459,687

Restricted funds

183,581

61,354

TOTAL FUNDS

713,142

521,041

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 26 October 2026 and were signed on its behalf by:

Mr N A Burnett - 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.

The financial statements present information about the charity as an individual undertaking and not as a group. The charity has taken advantage of the exemption allowed under Section 398 of the Companies Act 2006 and Regulation 7 of the Charities Accounts (Scotland) Regulations 2006 (as amended) not to prepare consolidated financial statements on the grounds that the group it heads qualifies as a small group and its aggregate gross income falls below the statutory threshold requiring consolidation

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. In line with the requirements of the charity SORP, all grant income, whether for revenue expenditure or capital purposes, is reported in full through the Statement of Financial Activities when it is receivable.

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.

Sports pavilion

-

2% on cost

Improvements to property

-

2% on cost

Equipment

-

20% on reducing balance

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Building construction work is capitalised in the Balance Sheet as property improvements to be written off over its estimated useful life. Legal and professional costs in relation to the construction projects are written off in full through the Statement of Financial Activities in the year the cost is incurred.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

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.

Current asset investment

Unlisted investments comprises one ordinary share in Fetterangus Power Ltd being 100% of the issued share capital and one ordinary share in Fishie Community Pub Ltd being 100% of the issued share capital. The trustees do not feel that it is possible to place a market value on the share held and as such the share has been reported at cost.

2.	OTHER TRADING ACTIVITIES

31.1.26

31.1.25

£

£

Hall rental income

13,795

12,258

3.	SUPPORT COSTS

Management

£

Other resources expended

21,201

Hall expenses & wages

3,217

Sundry Expenses

736

25,154

4.	NET INCOME/(EXPENDITURE)

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

31.1.26

31.1.25

£

£

Depreciation - owned assets

18,207

15,464

5.	TRUSTEES' REMUNERATION AND BENEFITS

No remuneration was paid to trustees during the financial year under report.

Trustees' expenses

No expenses were paid to Trustees during the financial year under report.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.1.26

31.1.25

Development & maintenance staff

1

1

No employees received emoluments in excess of £60,000.

Employer pension contributions totalling £173 were made during the year.

7.	TANGIBLE FIXED ASSETS

Improvements

Sports

to

pavilion

property

Equipment

£

£

£

COST

At 1 February 2025

254,161

293,317

36,742

Additions

-

144,990

3,725

At 31 January 2026

254,161

438,307

40,467

DEPRECIATION

At 1 February 2025

24,895

25,555

18,681

Charge for year

5,084

8,766

4,357

At 31 January 2026

29,979

34,321

23,038

NET BOOK VALUE

At 31 January 2026

224,182

403,986

17,429

At 31 January 2025

229,266

267,762

18,061

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2025

1,125

1,438

586,783

Additions

-

-

148,715

At 31 January 2026

1,125

1,438

735,498

DEPRECIATION

At 1 February 2025

1,125

1,438

71,694

Charge for year

-

-

18,207

At 31 January 2026

1,125

1,438

89,901

NET BOOK VALUE

At 31 January 2026

-

-

645,597

At 31 January 2025

-

-

515,089

8.	INVESTMENT PROPERTY

£

FAIR VALUE

Additions

63,944

At 31 January 2026

63,944

NET BOOK VALUE

At 31 January 2026

63,944

At 31 January 2025

-

The investment property at 1 The Square, Fetterangus, Aberdeenshire was purchased on 16/12/2025 for £63,944. The trustees are satisfied that this remains a reasonable valuation as at 31/01/2026.

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Other debtors

2,220

2,220

Prepayments and accrued income

2,043

1,566

4,263

3,786

10.	CURRENT ASSET INVESTMENTS

31.1.26

31.1.25

£

£

Unlisted investments

2

1

Unlisted investments comprises one ordinary share in Fetterangus Power Ltd being 100% of the issued share capital and one ordinary share in Fishie Community Pub Ltd being 100% of the issued share capital. The trustees do not feel that it is possible to place a market value on the share held and as such the share has been reported at cost.

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans and overdrafts (see note 12)

37,461

57,191

Social security and other taxes

-

41

Other creditors

1,561

515

Accrued expenses

4,566

3,091

43,588

60,838

12.

LOANS

There were no bank borrowings as at 31st January 2026. The balance of funds relating to the 'General Fund' was a deficit position of £37,460 whilst the balance held in relation to all other funds was in a surplus position of £42,923 giving a net surplus balance of funds held at bank of £5,463. The deficit position in the other funds will be rectified from future donations from the related trading company.

13.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.2.25

in funds

funds

31.1.26

£

£

£

£

Unrestricted funds

General fund

459,687

200,646

(130,772

)

529,561

Restricted funds

Brighter Villages Scheme

-

(3,270

)

3,270

-

Hall Refurbishment & Sports Hub Funding

43,213

(2,192

)

-

41,021

Playpark Fundraising Fund

18,141

(3,083

)

127,502

142,560

61,354

(8,545

)

130,772

183,581

TOTAL FUNDS

521,041

192,101

-

713,142

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

244,218

(43,572

)

200,646

Restricted funds

Brighter Villages Scheme

1,879

(5,149

)

(3,270

)

Hall Refurbishment & Sports Hub Funding

-

(2,192

)

(2,192

)

Playpark Fundraising Fund

-

(3,083

)

(3,083

)

1,879

(10,424

)

(8,545

)

TOTAL FUNDS

246,097

(53,996

)

192,101

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.2.24

in funds

funds

31.1.25

£

£

£

£

Unrestricted fund

199,436

262,253

(2,002

)

459,687

Restricted funds

Brighter Villages Scheme

-

(2,002

)

2,002

-

Hall Refurbishment & Sports Hub Funding

45,094

(1,881

)

-

43,213

Playpark Fundraising Fund

18,141

-

-

18,141

63,235

(3,883

)

2,002

61,354

TOTAL FUNDS

262,671

258,370

-

521,041

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

305,765

(43,512

)

262,253

Restricted funds

Brighter Villages Scheme

1,000

(3,002

)

(2,002

)

Hall Refurbishment & Sports Hub Funding

-

(1,881

)

(1,881

)

1,000

(4,883

)

(3,883

)

TOTAL FUNDS

306,765

(48,395

)

258,370

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

Net

Transfers

movement

between

At

At 1.2.24

in funds

funds

31.1.26

£

£

£

£

Unrestricted fund

199,436

462,899

(132,774

)

529,561

Restricted funds

Brighter Villages Scheme

-

(5,272

)

5,272

-

Hall Refurbishment & Sports Hub Funding

45,094

(4,073

)

-

41,021

Playpark Fundraising Fund

18,141

(3,083

)

127,502

142,560

63,235

(12,428

)

132,774

183,581

TOTAL FUNDS

262,671

450,471

-

713,142