REGISTERED COMPANY NUMBER: SC170657 (Scotland)

REGISTERED CHARITY NUMBER: SC027750

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Mid Deeside Community Trust

(Formerly Mid Deeside Limited)

(Company Limited by Guarantee)

Mid Deeside Community Trust

Contents of the Financial Statements

for the Year Ended 31 December 2017

Page

Chairman's Report

1

Report of the Trustees

2 to 3

Independent Examiner's Report

4

Statement of Financial Activities

5 to 6

Statement of Financial Position

7 to 8

Notes to the Financial Statements

9 to 20

Mid Deeside Community Trust

Chairman's Report

for the Year Ended 31 December 2017

On behalf of the Board of Directors/Trustees, I am pleased to present a report of the activities carried out by us during

the year from 1st January to 31st December 2017.

We are a community based charity that has been in existence since 1996 with our office based upstairs in The Victory

Hall, Aboyne. We have 2 members of staff who work part-time and beyond in the office and we also have 2 further

part-time bus staff.

2017 has been another successful year for the charity despite the challenges of attracting funding and also volunteers.

The accounts show we are currently in a healthy financial position and long may that continue. The challenges for the

future will be raising funds for purchasing new buses for our community transport operation and especially the

re-stocking of Cpt 5 in the Bell Wood during 2018.

Our core activities continue to be Community Woodlands located in the Bell Wood and the Lady Wood, Deeside

Community Transport and Health & Wellbeing.

The Deeside Hopper bus service has been well used during 2017 and is a scheduled service covering Tarland, Aboyne,

Finzean, Logie Coldstone, Lumphanan, Kincardine O' Neil, Strachan and Banchory. We have transported 8,000

passengers around the Mid-Deeside area on the "Hopper" in 2017. The 2 community buses we operate continue to be

utilised by around 47 local community groups. We did receive grant approval from the Marr Area to run a pilot scheme

to transport people to and from the Aboyne Health Centre and Hospital. The pilot scheme will start in the Spring of

2018. We have managed to recruit 5 new Midas trained drivers to enable us to build up a pool of drivers to operate the

community buses. We are still looking at buying a "green bus" at some point in the future and have had meetings with

Aberdeenshire Council regarding funding etc.

The community woodlands at The Ladywood and The Bellwood in particular have occupied a large part of our work.

Thinning operations were carried out during 2017 which does provide some funds for the future. We again sold some

Christmas trees in December to boost our coffers. We attended a Voluntary Association open day in June to exhibit

plans for relocating and enlarging The Bellwood car park as it is clear more space is needed to cope with the increased

demand to use the wood. Aboyne Bike Park located in The Bellwood is still popular and the plans to enlarge the

existing facilities are moving forward.

We are still organising the community education classes with Qigong and Taiji Quan proving to be well attended.

We were also involved in a number of other activities during 2017. We met with Aboyne Academy to forge closer links

and this has resulted in Aberdeenshire Council agreeing that a pupil from the Academy will get work experience in our

office in The Victory Hall. The woodwork department at Aboyne Academy is also making wooden benches to be

installed in The Bellwood. We are looking at other projects which may benefit the school. We attended a bag pack day

at Aboyne Co-op on 10th March 2017 to promote their membership scheme as we were one of their nominated charities

in 2016. We also had 2 further bag packing sessions at the Co-op on 27th May and 2nd December 2017 to raise funds

and promote ourselves. We continued to produce The Osprey newsletter during 2017 which has now in effect been

replaced by the separate Fountain magazine. The Jubilee Fountain at the entrance to Aboyne Green continues to be our

responsibility in terms of repairs and lighting. We are members of The Royal Deeside Partnership together with Ballater

and Braemar and we meet on a regular basis to look at projects that are of mutual benefit. We attended an open day on

17th June 2017 at The Victory Hall for voluntary organisations and a similar event on 16th November 2017 to look at

improving facilities in Aboyne.

The Aboyne Wheelers' project to build a skate park near the Community Centre in Aboyne is still an ongoing project

which will hopefully reach the stage of obtaining planning consent soon.

We continue to support Deeside CPR with their operations involving the defibrillators and the Heart Start Courses

which they have organised. They still run monthly courses in the Aboyne Community Centre and a number of classes at

several local schools and community groups situated all over Deeside and beyond.

At our Annual General Meeting on 27th October 2017 a special resolution was passed to change our name to

Mid-Deeside Community Trust as it was felt this would help to inform the general public that we are a community based

charity. Once the official change is completed, we will then look to have a rebranding in 2018 to include a new web site.

In summary, 2017 has been a year of change with the usual demands on funding and volunteers. The Board is extremely

grateful to all our staff and those people who have assisted us with their time and funding during 2017.

Mid Deeside Community Trust

Report of the Trustees

for the Year Ended 31 December 2017

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 December 2017. 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 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charitable company seeks to undertake a wide range of projects on behalf of the local community as agents/project

managers, with a shift from tourism to projects that will be of direct benefit to the local community e.g. to improve

public amenities and services within Mid Deeside and to encourage projects and initiatives to that end.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The achievements for the year are described in detail in the Report of the Chairman on page 1.

FINANCIAL REVIEW

Financial position

The charitable company received income of £187,347 during the year which represents an increase of £30,175 After

expenses of £165,131 a surplus of £22,216 arose, which has been included in the charitable company's funds.

Reserves policy

The unrestricted fund represents the free reserves available to the charitable company to fulfil its primary objectives. It

is the charitable company's aim to ensure that at least 3 months' worth of expenditure is held within free reserves.This

level of reserves is reviewed on an annual basis.

For the coming year, £4,000 will be allocated in Woodlands to cover the costs of felling damaged trees within the

community.

Funds in deficit

Any funds resulting in deficit will be covered using the available surplus from the unrestricted funds.

FUTURE PLANS

Plans for future are discussed in depth in the Report of the Chairman on page 1.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charitable company, which is limited by guarantee and therefore governed by its Memorandum and Articles of

Association, is a registered charity. In the event of the charitable company being wound up, the liability in respect of

the guarantee is limited to £1 per member.

Recruitment and appointment of new trustees

The directors of the charitable company are also charity trustees for the purposes of charity law. Under the

requirements of the Memorandum and Articles of Association the number of directors shall be not less than three and

not more than twelve. The directors of the charitable company shall comprise:

a) ex-officio a director nominated by Aberdeenshire Council from the members representing the area of benefit.

b) ex-officio a director nominated by one of the Community Councils of the area of benefit; and

c) those persons appointed directors by the members in accordance with the Articles of Association.

Organisational structure

The charitable company's operations are overseen by a board of directors who meet regularly to define, authorise and

seek to implement such projects. The day to day running of the charitable company is managed by a small number of

paid staff.

Induction and training of new trustees

The Board strives to ensure that the directors are informed and educated on their role and responsibilities as a charity

director and trustee.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC170657 (Scotland)

Registered Charity number

SC027750

Registered office

14 Carden Place

Aberdeen

AB10 1UR

Principal address

The Victory Hall

Ballater Road

Aboyne

Aberdeenshire

Trustees

P Argyle (ex-officio)

H M Forbes

W M Forbes

B A Hauxwell

D Cassie

Mrs L Mackie

M Mallett

- resigned 9.6.17

M Mitchell

A J Emslie

R P Smout

Ms G C Barton

- appointed 27.10.17

Company Secretary

Mackinnons Solicitors

Independent examiner

Gillian R Nicolson

Institute of Chartered Accountants in Scotland

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

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 23 May 2018 and signed on its behalf by:

H M Forbes - Trustee

Independent Examiner's Report to the Trustees of

Mid Deeside Community Trust

I report on the accounts for the year ended 31 December 2017 set out on pages five to twenty.

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.

Gillian R Nicolson

Institute of Chartered Accountants in Scotland

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

23 May 2018

Mid Deeside Community Trust

Statement of Financial Activities

(Incorporating an Income and Expenditure Account)

for the Year Ended 31 December 2017

Period

1.1.15

Year Ended

to

31.12.17

31.12.16

Unrestricted funds

Restricted funds

Total funds

Total funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

29,226

5,842

35,068

17,449

Charitable activities

5

Community Transport

-

106,410

106,410

98,807

Active Aboyne

-

-

-

5

Community Education & Learning

2,680

-

2,680

6,512

Aboyne Centre Enhancement Scheme

-

5,477

5,477

-

Bike Park

-

735

735

-

Community Woodlands

-

21,630

21,630

12,554

Administration

13,371

-

13,371

19,931

Charitable Activities

1,961

-

1,961

1,900

Investment income

4

15

-

15

14

Total

47,253

140,094

187,347

157,172

EXPENDITURE ON

Raising funds

Raising donations and legacies

6

16,795

-

16,795

18,730

16,795

-

16,795

18,730

Charitable activities

7

Community Transport

-

116,718

116,718

118,349

Community Education & Learning

2,296

-

2,296

4,298

Aboyne Centre Enhancement Scheme

-

4,903

4,903

1,726

Bike Park

-

7,045

7,045

7,476

Community Woodlands

-

6,832

6,832

5,959

Aboyne Wheelers

-

200

200

1,507

Administration

6,156

-

6,156

203

Charitable Activities

-

-

-

34

Other

4,186

-

4,186

5,961

Total

29,433

135,698

165,131

164,243

NET INCOME/(EXPENDITURE)

17,820

4,396

22,216

(7,071

)

Transfers between funds

18

708

(708

)

-

-

Net movement in funds

18,528

3,688

22,216

(7,071

)

RECONCILIATION OF FUNDS

Total funds brought forward

40,886

487,462

528,348

535,419

TOTAL FUNDS CARRIED FORWARD

59,414

491,150

550,564

528,348

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

Mid Deeside Community Trust

Statement of Financial Position

At 31 December 2017

2017

2016

Notes

£

£

FIXED ASSETS

Tangible assets

14

358,553

393,882

CURRENT ASSETS

Debtors: amounts falling due within one year

15

14,827

20,544

Cash at bank and in hand

189,533

134,325

204,360

154,869

CREDITORS

Amounts falling due within one year

16

(12,349

)

(20,403

)

NET CURRENT ASSETS

192,011

134,466

TOTAL ASSETS LESS CURRENT LIABILITIES

550,564

528,348

NET ASSETS

550,564

528,348

FUNDS

18

Unrestricted funds:

General fund

48,758

30,612

Community Education and Services

10,658

10,274

59,416

40,886

Restricted funds:

Ladywood

850

860

Bellwood

162,350

162,131

Community Transport Hopper

40,028

62,168

Aboyne Centre Enhancement Scheme

8,126

5,828

Aboyne Bike Park Association

48,027

53,089

Aboyne Wheelers

30,143

30,343

Community Woodlands

144,519

129,930

Deeside Community Transport

57,105

43,113

491,148

487,462

TOTAL FUNDS

550,564

528,348

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

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

31 December 2017 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 23 May 2018 and were signed on its behalf by:

H M Forbes -Trustee

Mid Deeside Community Trust

Notes to the Financial Statements

for the Year Ended 31 December 2017

1.	STATUTORY INFORMATION

Mid Deeside Community Trust (formerly know as Mid Deeside Limited), is a charitable company that is limited

by guarantee, registered in Scotland. The company's registered number and registered office can be found in the

Reference and Administration Details section of the Report of the Trustees.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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 to 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, as

modified by the revaluation of certain assets.

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements,

as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

-

the requirements of Section 7 Statement of Cash Flows;

-

the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d);

-

the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(f), 11.42, 11.44,11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c).

Revenue recognition

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.

Income from Government and other grants is recognised when the charity is entitled to the funds, and any

conditions attached to the grants have been met, it is probable that the income will be recieved, and the amounts

can be measured reliably and is not deferred.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date.

In the event that a donations is subject to conditions, then the income is deferred and not recognised until either

the conditions are fully met of the fulfilment of the conditions are wholly within the control of the chanty and it

is probable that those conditions will be met within the reporting period.

Legacy gifts are recognised on a case by case basis following the granting of probate when the

administrator/executor fo the estate has communicated in writing both the amount and settlement date. In the

event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock

exchange recognition is subject to the value of the gift being reliably measurable with a degree of reasonable

accuracy and the title of the asset having been transferred to the charity.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the

charity, this is normally upon notification by the bank.

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 and depreciation

Tangible fixed assets costing more than £500 are capitalised and carried at cost. Depreciation is calculated to

write down the cost, less estimated residual value, of all tangible fixed assets by equal annual instalments over

their expected useful lives. The periods generally applicable are:

Freehold land

not amortised

Bike Park (included in above)

over 10 years

Leasehold land

over period of lease (99 years)

Skate Park

over 10 years once complete

Office equipment

over 5 years in equal instalments

Motor vehicles

over 6 years in equal instalments

The fixed assets are used in direct furtherance of the charitable company's objectives.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Funds are designated according to their purpose and the income and expenses are allocated to the specific funds

as appropriate and/or as specified by the donor.

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 specific funds.

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.

Pension costs and other post-retirement benefits

The Charity operates a defined contribution pension scheme. Contributions payable to the charitable company's

pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

They are measured at the undiscounted amount of the cash or other consideration expected to be paid or

received.

Going Concern

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.

3.	DONATIONS AND LEGACIES

Period

1.1.15

Year Ended

to

31.12.17

31.12.16

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

£

£

£

£

Donations

25,226

5,842

31,068

11,267

Grants

4,000

-

4,000

6,182

29,226

5,842

35,068

17,449

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

Period

1.1.15

Year Ended

to

31.12.17

31.12.16

£

£

Royal Deeside Partnership

4,000

2,000

Marr Area Committee

-

928

Signage for Bellwood

-

1,254

Tarland Burn

-

2,000

4,000

6,182

4.	INVESTMENT INCOME

Period

1.1.15

Year Ended

to

31.12.17

31.12.16

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

£

£

£

£

Deposit account interest

15

-

15

14

5.	INCOME FROM CHARITABLE ACTIVITIES

Period

1.1.15

Year Ended

to

31.12.17

31.12.16

Activity

£

£

Community Transport

Community Transport

75,788

23,576

Grants

Community Transport

30,622

75,231

Community Education & Learning

Active Aboyne

-

5

Community Education & Learning

Community Education & Learning

2,680

6,512

Grants

Aboyne Centre Enhancement Scheme

5,477

-

Events, log sales and hall management

Bike Park

235

-

Grants

Bike Park

500

-

Events, log sales and hall management

Community Woodlands

21,630

12,554

Events, log sales and hall management

Administration

100

-

Management fee income

Administration

13,271

19,931

Events, log sales and hall management

Charitable Activities

1,961

1,900

152,264

139,709

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

Period

1.1.15

Year Ended

to

31.12.17

31.12.16

£

£

Co-op

4,023

-

Scottish Government - Bus Concession Fares

-

13,246

Scottish Government - Bus Service Operator's Grant

7,048

1,650

Aberdeenshire Council Community Transport Initiative and Hopper Contract

22,574

57,667

Marr Area Committee

1,954

-

Grasshopper Revenue Distribution

-

289

Aboyne Medical Centre

1,000

-

Other grants

-

2,379

36,599

75,231

6.	RAISING DONATIONS AND LEGACIES

Period

1.1.15

Year Ended

to

31.12.17

31.12.16

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

£

£

£

£

Staff costs

8,409

-

8,409

10,111

Business support and management fee

8,386

-

8,386

8,619

16,795

-

16,795

18,730

7.	CHARITABLE ACTIVITIES COSTS

Direct costs

Totals

(See note 8)

£

£

Community Transport

116,718

116,718

Community Education & Learning

2,296

2,296

Aboyne Centre Enhancement Scheme

4,903

4,903

Bike Park

7,045

7,045

Community Woodlands

6,832

6,832

Aboyne Wheelers

200

200

Administration

6,156

6,156

144,150

144,150

8.	DIRECT COSTS OF CHARITABLE ACTIVITIES

Period

1.1.15

Year Ended

to

31.12.17

31.12.16

£

£

Staff costs

25,222

27,236

Charitable activities costs

62,971

56,547

Cost of activities upkeep

5,330

3,099

Business support and management fee

15,299

23,339

Depreciation

29,453

29,297

Loss on sale of assets

5,875

-

144,150

139,518

9.	SUPPORT COSTS

Governance costs

£

Other resources expended

4,186