Mount Blair Community Development Trust - Charities report - 18.1

REGISTERED COMPANY NUMBER: SC392056 (Scotland)

REGISTERED CHARITY NUMBER: 042727

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

28 FEBRUARY 2018

FOR

MOUNT BLAIR COMMUNITY DEVELOPMENT TRUST

(A COMPANY LIMITED BY GUARANTEE)

MOUNT BLAIR COMMUNITY DEVELOPMENT TRUST

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

Page

Report of the Trustees

1 to 3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6 to 7

Notes to the Financial Statements

8 to 16

MOUNT BLAIR COMMUNITY DEVELOPMENT TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 28 FEBRUARY 2018

The Company was registered as a charity on 14th November 2011.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The stated aim and purpose of the charity is to improve the quality of life for all sectors of the community living,

working or visiting within the Mount Blair Community Council area.

Significant activities

The Charity is working towards achieving progress in the twenty-two priority areas identified in The Community

Plan 2013 - 2018. Currently the main focus is on the local archive project, a community bulk heating oil purchase

scheme, the footpath network, telephone box libraries and the former Spittal of Glenshee Hotel.

The Spittal of Glenshee Hotel was destroyed by fire in 2014. An unincorporated Steering Group, including some

Directors of the Trust, was formed to investigate the viability of purchasing and developing the site as a

community project. MBCDT has taken ownership of the scheme and to this end a pre planning application was

submitted during the last financial year. The Trust continues to press for a solution to the development of the

site.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Community Archive Project continues to thrive with significant input from a volunteer archivist.

A community bulk oil purchase scheme (CBOPS) has been operational since 2013. To date 407,100 litres of

heating oil has been supplied to the community, at a discounted rate.

The Kirkmichael Paths Network consists of fourteen miles of way-marked trails in and around Kirkmichael. This

has become an established and popular facility for local and visiting walkers. The trust continues to support on

going maintenance with input from local volunteers.

Two old style red telephone boxes have been converted to Community Libraries, one at Enochdhu and the other

at Blacklunans. Due to their popularity it is intended to convert a third at Ballintuim.

The Trust has purchased a gazebo and has held promotional events at both The Strathardle Gathering and the

Glenshee Tourist Association open day.

FINANCIAL REVIEW

Financial position

The total reserves at the balance sheet date amounted to £9,923 (2017 - £16,992) of which £2,153 (2017 - £989)

are unrestricted and £7,770 (2017 - £16,003) are held as restricted funds to be used for specific projects.

Reserves policy

The charity is working to fundraise through community events and donations in order to build up some financial

reserves. As the Charity is still in the early stages of development no substantial reserves have yet been

established.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a Memorandum and Articles of Association, and constitutes

a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Existing trustees identify members of the local community known to be fit and proper persons who are

potentially capable of becoming trustees. They are approached individually and if willing to be appointed attend

a board meeting to be proposed, seconded and appointed. At the Annual General Meeting one third of the

longest serving trustees retire by rotation and are eligible for re-election.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC392056 (Scotland)

Registered Charity number

042727

Registered office

Alt Na Bruach

Glenshee

Blairgowrie

Perthshire

PH10 7QD

Trustees

R W Clare

Secretary

J Manning

D Stewart

- resigned 24.4.17

C Shiers

Co-opted Director

K Hunter

D Townsend

Treasurer

E Mallinson

Chairperson

I Hamilton

- resigned 31.5.17

J Hunter

M Goodman

M Kerby

- appointed 25.10.17

E Mallinson appointed Chairperson on 25 October 2017.

Company Secretary

R W Clare

Independent examiner

Graham Edwards

Chartered Accountant

& Business Advisers

1 Perth Street

Blairgowrie

Perthshire

PH10 6DQ

Bankers

Triodos Bank

Deanery Road

Bristol

BS1 5AS

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006

relating to small companies.

Approved by order of the board of trustees on 30 October 2018 and signed on its behalf by:

R W Clare - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

MOUNT BLAIR COMMUNITY DEVELOPMENT TRUST

I report on the accounts for the year ended 28 February 2018 set out on pages five to sixteen.

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.

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.

Graham Edwards

Graham Edwards

Chartered Accountant

& Business Advisers

1 Perth Street

Blairgowrie

Perthshire

PH10 6DQ

31 October 2018

MOUNT BLAIR COMMUNITY DEVELOPMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 28 FEBRUARY 2018

28.2.18

28.2.17

Unrestricted fund

Restricted funds

Total funds

Total funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

-

-

-

3,454

Charitable activities

4

General

181

-

181

250

Community archive project

-

100

100

-

Development and support assistant

-

4,765

4,765

4,400

Footpath

-

-

-

9,091

Disabled toilets

-

-

-

750

Defibrillators

-

-

-

2,810

Telephone boxes

-

-

-

1,789

Spittal community

-

1,562

1,562

-

Other trading activities

3

1,533

167

1,700

1,825

Total

1,714

6,594

8,308

24,369

EXPENDITURE ON

Raising funds

5

35

35

70

111

Charitable activities

6

General

1,392

-

1,392

1,394

Awards for all

-

122

122

-

Community archive project

-

4,070

4,070

4,474

Development and support assistant

-

7,225

7,225

4,404

Footpath

24

-

24

9,091

Disabled toilets

-

-

-

750

Defibrillators

-

-

-

2,810

Telephone boxes

-

1,152

1,152

-

Spittal community

-

2,222

2,222

-

Total

1,451

14,826

16,277

23,034

NET INCOME/(EXPENDITURE)

263

(8,232

)

(7,969

)

1,335

RECONCILIATION OF FUNDS

Total funds brought forward

989

16,003

16,992

15,657

TOTAL FUNDS CARRIED FORWARD

1,252

7,771

9,023

16,992

MOUNT BLAIR COMMUNITY DEVELOPMENT TRUST

BALANCE SHEET

AT 28 FEBRUARY 2018

28.2.18

28.2.17

Unrestricted fund

Restricted funds

Total funds

Total funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

322

732

1,054

1,408

CURRENT ASSETS

Debtors

13

344

182

526

3,076

Cash at bank

1,487

6,856

8,343

13,588

1,831

7,038

8,869

16,664

CREDITORS

Amounts falling due within one year

14

(900

)

-

(900

)

(1,080

)

NET CURRENT ASSETS

931

7,038

7,969

15,584

TOTAL ASSETS LESS CURRENT LIABILITIES

1,253

7,770

9,023

16,992

NET ASSETS

1,253

7,770

9,023

16,992

FUNDS

15

Unrestricted funds

1,253

989

Restricted funds

7,770

16,003

TOTAL FUNDS

9,023

16,992

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended

28 February 2018 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 special provisions of Part 15 of the

Companies Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 30 October 2018 and were signed on its behalf by:

E Mallinson -Trustee

MOUNT BLAIR COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

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 2015)', 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 accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts

in these financial statements are rounded to the nearest £.

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. 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.

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.

Going concern

At the time of approving the accounts, the trustees know of no material uncertainties related to events or

conditions that may cast significant doubt upon the entity's ability to continue as a going concern. 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 accounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated

useful life.

Fixtures and fittings

- 25% on reducing balance

Computer equipment

- Straight line over 4 years

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of

depreciation and any impairment losses.

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 net income/(expenditure) for the year.

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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measures at

transaction price including truncation costs.

Basic financial liabilities, which include 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.

2.	DONATIONS AND LEGACIES

28.2.18

28.2.17

£

£

Donations

-

3,454

The Trust benefits greatly from the involvement and enthusiastic support of its many volunteers, details

of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the

economic contribution of general volunteers is not recognised in the accounts.

3.	OTHER TRADING ACTIVITIES

28.2.18

28.2.17

£

£

Fundraising events

1,700

1,825

4.	INCOME FROM CHARITABLE ACTIVITIES

28.2.18

28.2.17

Activity

£

£

Internet shopping income

General

31

31

Film night income

General

-

89

Grants

General

150

-

Competition income

General

-

130

Grants

Community archive project

100

-

Grants

Development and support assistant

4,765

4,400

Grants

Footpath

-

9,091

Grants

Disabled toilets

-

750

Grants

Defibrillators

-

2,810

Grants

Telephone boxes

-

1,789

Grants

Spittal community

1,562

-

6,608

19,090

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

28.2.18

28.2.17

£

£

Perth and Kinross Council

-

9,091

Drumderg Micro Grant Award

600

-

Heritage Lottery Fund

(350

)

-

Local Family Trust

-

2,650

The Robertson Trust

-

2,500

SSE

4,765

4,599

Lottery Fund

1,562

-

6,577

18,840

5.	RAISING FUNDS

Other trading activities

28.2.18

28.2.17

£

£

Fundraising events

70

111

6.	CHARITABLE ACTIVITIES COSTS

Direct costs

Support costs

Totals

(See note 7)

£

£

£

General

290

1,102

1,392

Community archive project

2,992

1,078

4,070

Development and support assistant

7,225

-

7,225

Footpath

24

-

24

Telephone boxes

1,152

-

1,152

Spittal community

2,222

-

2,222

Awards for all

-

122

122

13,905

2,302

16,207

7.	SUPPORT COSTS

Management

Finance

Governance costs

Totals

£

£

£

£

General

64

17

1,021

1,102

Awards for all

-

-

122

122

Community archive project

1,062

-

16

1,078

1,126

17

1,159

2,302

8.	NET INCOME/(EXPENDITURE)

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

28.2.18

28.2.17

£

£

Depreciation - owned assets

1,126

2,162

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 28 February 2018 nor for the

year ended 28 February 2017.

Trustees' expenses

There were no trustees' expenses paid for the year ended 28 February 2018 nor for the year ended

28 February 2017.

10.	STAFF COSTS

The average number of employees is nil.

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund

Restricted funds

Total funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

123

3,331

3,454

Charitable activities

General

250

-

250

Development and support assistant

-

4,400

4,400

Footpath

-

9,091

9,091

Disabled toilets

-

750

750

Defibrillators

-

2,810

2,810

Telephone boxes

-

1,789

1,789

Other trading activities

1,824

1

1,825

Total

2,197

22,172

24,369

EXPENDITURE ON

Raising funds

111

-

111

Charitable activities

General

1,394

-

1,394

Community archive project

-

4,474

4,474

Development and support assistant

-

4,404

4,404

Footpath

-

9,091

9,091

Disabled toilets

-

750

750

Defibrillators

-

2,810

2,810

Total

1,505

21,529

23,034

NET INCOME/(EXPENDITURE)

692

643

1,335

RECONCILIATION OF FUNDS

Total funds brought forward

297

15,360

15,657

TOTAL FUNDS CARRIED FORWARD

989

16,003

16,992

12.	TANGIBLE FIXED ASSETS

Fixtures and fittings

Computer equipment

Totals

£

£

£

COST

At 1 March 2017

1,184

7,919

9,103

Additions

772

-

772

At 28 February 2018

1,956

7,919

9,875

DEPRECIATION

At 1 March 2017

642

7,053

7,695

Charge for year

264

862

1,126

At 28 February 2018

906

7,915

8,821

NET BOOK VALUE

At 28 February 2018

1,050

4

1,054

At 28 February 2017

542

866

1,408

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Other debtors

-

2,580

Prepayments

526

496

526

3,076

14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Accrued expenses

900

1,080