Culbokie Community Trust Limited Company Limited by Guarantee. Extract of Accounts. 30 June 2017

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1 COMPANY REGISTRATION NUMBER: SC CHARITY REGISTRATION NUMBER: SC Culbokie Community Trust Limited Extract of Accounts 30 June 2017 FRAME KENNEDY Chartered Accountants Metropolitan House High Street Inverness IV1 1HT

2 Trustees' Annual Report (Incorporating the Director's Report) The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 30 June Reference and administrative details Registered charity name Charity registration number Culbokie Community Trust Limited SC Company registration number SC Principal office and registered 11 Balnatua office Culbokie Dingwall IV7 8JQ The trustees M A Richards C V Elliot (Resigned 3 October 2016) P J Macdonald (Resigned 3 October 2016) C I Campbell (Resigned 15 March 2016) R L Fyfe P A Edwards K B Morrison J Mackenzie I MacIver J M Douglas S Southcott (Appointed 3 October 2016) A J Petch (Appointed 3 October 2016) Company secretary Independent Examiner I MacIver Frame Kennedy Chartered accountants Metropolitan House High Street Inverness IV1 1HT The trustees present their report and the financial statements for the year ended 30 June The trustees, who are also directors of the company for the purposes of company law and who served during the year and up to the date of this report, are set out on page 1. The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, 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). This report is prepared in accordance with the special provisions relating to small companies contained within Part 15 of the Companies Act

3 Structure, governance and management The charity is a company limited by guarantee and a registered Scottish charity number SC It is governed by its Articles of Association which were revised and approved at an EGM on 1st December In accordance with the company's Articles of Association, at the second and each subsequent AGM, one third of Elected Directors shall retire from office. Directors may be reappointed for a further term but must have at least one year out of office before being eligible again. None of the directors has any beneficial interest in the company. All of the directors are members or associate members of the company and guarantee to contribute 1 in the event of winding up. Board The charity is governed by a board of up to 12 Directors which meets every 1-2 months and is responsible for all strategic decisions. All activities are undertaken in accordance with the purposes of the company set out in the Trust's Articles of Association. Culbokie Community Trust Limited's Articles of Association were revised and approved at the 1st Dec 2014 EGM having been amended to remove an error in the list of post codes contained in the original Purposes of the Company. Objectives and activities The company has been formed to benefit the community of Culbokie, as defined by 29 post code units, according to the principles of sustainable development. Its specific purposes are - to manage community land and associated assets for the benefit of the community of Culbokie and the public in general; - to provide recreational facilities and activities with the object of improving the conditions of life of the community; - to promote community development and rural regeneration in areas of social and economic disadvantage within the community; - to advance the education of the community about its environment, culture, heritage and history; and - to advance protection and improvement of the natural or built environment. The above is a summary of CCT's charitable objectives. The charity's governance documents contain the full list of its charitable objectives. Strategic report The following sections for achievements and performance and financial review form the strategic report of the charity

4 Achievements and performance Company Development In its third year after incorporation the membership of the company grew from 126 full members, 10 juniors and 41 associates to 162 full members, 13 juniors and 50 associates. This equates to a 29% increase in the number of full members and a 27% increase in membership overall. Over the course of the year the Board continued to strengthen its governance with the establishment of a child protection policy. Training and development of Directors included a Development Trust Association Scotland (DTAS) training day on 'New Rights and New Resources', courses provided by Just Enterprise on 'Marketing and Communications' and 'An Introduction to Selling' a Webinar from Local Giving on fundraising and a Webinar from HIE on BIG Lottery funds. We also provided a case study for community leadership trainees for the Social Enterprise Academy. CCT continued its membership of DTAS, Ross-shire Voluntary Action (RVA), Highland Small Communities Housing Trust (HSCHT) and Community Land Scotland (CLS). These memberships have provided CCT with access to information, training, advice and grants to support its core objectives. Glascairn Community Project CCT has always believed that the Glascairn Community Project would be very difficult to achieve without a partnership with the neighbouring housing developer in order to share infrastructure and servicing costs. The most significant development of the year was therefore in Jan 2017 when Tulloch Homes was identified as the most likely housing developer and we were invited to enter into talks with them. In the first part of the year, prior to Tulloch Homes' involvement, we continued a range of general development work on the project. We undertook a community consultation in October to address specific issues about the use and design of the land and to get feedback on the potential role of mental health charity Birchwood Highland in running the proposed café. All the feedback, which included strong support for Birchwood Highland, was reported back to members and the wider community. This was followed by work with Birchwood Highland to draw up an activities programme for the main community facilities building and to agree a business plan. In November 2016 we visited the GALE Centre, a 240m2 community building in Gairloch, to learn from the experience of their Board and staff. This inspiring visit was supported by the Community Learning Exchange. We also drew to a close our research and discussions with the current village shop owner on the possible relocation and expansion of the shop to the community land. This work concluded that the business case for relocation was weak because there is scope to extend the shop far more cost effectively on the current site with additional parking on the community land. The other main elements of the plan: the community building with covered space, open community gathering space, community housing and business units all remained in play. From January CCT worked hard to develop a constructive and positive relationship with Tulloch Homes. This led to the development of draft Heads of Terms that would form the basis for a legal agreement. The terms of this agreement were put to the community at an open consultation in May 2017 involving a drop-in session and an evening meeting. An opportunity was also provided for input from those that could not make the event. The proposed terms of the agreement were supported by the community and CCT adjusted some elements of the design to reflect community views. A full report of the consultation was posted on our web site. Following approval from the Scottish Land Fund and Community Right to Buy team, CCT accepted the draft agreement and appointed law firm Shepherd and Wedderburn to act for us in drawing up the final agreement. This process was still ongoing at the end of the financial year. Meanwhile we continued to explore proposals for partnership working at Glascairn with a range of complimentary organisations including High Life Highland, NHS Highland and Highland Hospice. Birchwood Highland became an observer at our Board meetings to ensure good coordination

5 Achievements and performance (continued) As the prospect for development improved we established a Fundraising subgroup with a target of raising 5% of the Phase 1 development costs or around 50,000. This work will necessarily remain relatively low key until there is greater certainty that the project will go ahead. Nonetheless, the group raised over 4000 by the end of the financial year. An Evening with Ian Rankin (actually just after the end of the financial year) was a roaring success for which we are very grateful to author Ian Rankin and STV presenter Nicola MacAlly. In May we contacted the BIG Lottery fund to enquire about an application for a major capital grant under their Community Assets Fund. This led to a visit and discussions from their Fund Manager and Capital Advisor. After the end of the financial year we were informed that our project was not yet sufficiently developed to be put forward for the next stage. However, we were given detailed feedback on issues that we need to address and the door has been left open for us to make a further submission. The land that is owned by CCT has been maintained in good order over the course of the year and a picnic bench was built and installed by a volunteer with financial assistance for materials from the Highland Council Discretionary Fund. Once again we erected a Christmas tree on the site that was donated by the Forestry Commission and on the Saturday before Christmas the community gathered for a festive celebration with carol singing and mulled wine. Culbokie Woods Project CCT had its second annual meeting with Forestry Commission Scotland and this had provided a useful channel to coordinate aspirations and activities in the wood and to address any issues. Two work parties were held during the year in December and April to undertake path clearance and habitat improvement. Plans were also laid for a Bat Walk and Fungal Foray to take place shortly after the end of the financial year - both of which were fully subscribed and a great success. For the first time CCT organised a Bushcraft Apprentice series in Culbokie Wood for young people over 4 half days at the start of the summer holiday. These were fully booked and much enjoyed by those that took part. The opportunity to redevelop the wood as an orienteering venue was identified after discussions with Culbokie Primary School and the 14th Ross-shire Scouts. To test interest CCT organised a taster orienteering event in June with financial support from the Forestry Commission and Ferintosh Community Council and with practical support from the Inverness Orienteering Club, Scottish Orienteering and High Life Highland Active Schools Officer. This was a great success with around 40 children and several adults testing their skills on the course. Consideration is now being given to re-establishing the permanent orienteering course in close coordination with the primary School and scouts. History Project The history group continued its historical research of the village and surrounding area and all new information was uploaded to the trust's website. A talk by local historian Dr Jim MacKay on the Ferries of Easter Ross in October was very well attended and outings included a walk, facilitated by Allan MacKenzie, over the ruins of the Mulchaich Distillery and a visit to Foulis Castle hosted by Clan Chief Sir Hector Munro. The group also took an interest in Teanagairn Henge which is a 30m diameter circular feature that is more than 4000 years old just outside the village. With assistance from Adopt a Monument and from neighbouring landowners the group cleared the site of invasive vegetation and is now working to improve access and interpretation

6 Achievements and performance (continued) Culbokie Community Market Following pilot schemes last year, CCT implemented changes to the community market to promote its long term sustainability. These included a change of name and a rebranding of PR material, extended opening hours and the introduction of lunches to the café menu, exposure of the market on social media and improved roadside signage both in the village and across a wider geographical area. These changes have bedded in well - the café takings have increased, attendance has been steady and the market continues to cover its costs. We attracted a good range of stalls although attracting a diversity of fresh food producers has been challenging and this was exacerbated by the loss during the year, due to retirement, of both Ron Palmer's fish stall and more recently Strathpeffer Artisan Bread. Addressing this issue will be a priority in the coming year. CCT continued to hold its own stall at the market with general information and plant sales. We also trialled a new stall, the Culbokie Pantry which, over the past year, has sold fresh local produce and a range of wholefoods. The two car boot sales in June and September generated additional novelty and interest. Transition Black Isle's October apple juicing session was well attended and their Dr Bike sessions provided an additional draw. In December we initiated a business promotion giving local businesses an opportunity to promote their services by displaying their leaflets and business cards at the market. This attracted 17 local companies to take part and has been popular with market goers. Walk Culbokie! CCT established a walking-for-health group in January 2017 which branded itself Walk Culbokie! The group met on Saturdays every two weeks through most of the first half of the year and small groups of walkers explored many local sites of interest such as Kinbeachie, Ferintosh Burn and Urquhart Cemetery. However, the main organiser left the village at the end of June and, very sadly, the group has been suspended because CCT was unable to find a replacement volunteer. Culbokie Clean and Tidy Projects CCT continued to support volunteers maintaining the village pump and dog fouling disposal bins in Culbokie Woods. During the year CCT volunteers also took over managing several of the plant tubs around the village. Communications Members continued to receive approximately monthly updates of CCT news, activities and events. Information about CCT was also available throughout the year at the Community Market and in the interests of transparency, we decided in January to make approved Board minutes openly available from our Web Site. Two members' social pub nights were held at the Culbokie Inn in December and March. CCT's web site has continued to be managed as a core information resource covering all the work of CCT, its working groups and its future events. Total page views increased by 18% above the previous year. A Facebook page and Twitter Account were also used to reach a younger and more diverse audience. We supported other village events where possible including a presence at the Primary School Christmas Fair. There was no Culbokie Gathering in this financial year as it has been put back from early to late summer, but CCT has been a member of the village wide organising group for the rebranded 'COOLbokie' and had an information stall at the event after our official year end. We continued to have a place on the Findon Hall Committee as a user group of the hall

7 Financial review Incoming resources for the year totalled 7,873 (2016: 5,816). Resources expended in the year totalled 3,501 (2016: 7,924). OSCR guidelines require that charities maintain reserves equivalent to a minimum of three months' operational costs. CCT has no employment costs and low outgoings and is currently operating well within this guideline. At the statement of financial position date, the charity had cash reserves of 19,211 (2015: 15,571). Plans for future periods Our highest priority in the coming year is to continue progress towards the Glasciarn Community Project. We aim to work constructively with Tulloch Homes to get the best possible outcome for the village. We will also be working towards the establishment of a Stakeholder Group of statutory and strategic bodies as active partners in the project enabling us to firm up the facilities and activities at Glascairn with a view to making a further submission to the BIG Lottery Fund and applications to other funding bodies. We will also be continuing with our local fundraising to generate a cash reserve to support developmental work, provide match funding and demonstrate our commitment to the project. We will continue to manage and develop the Culbokie Community Market and our priority for the coming year is to try to attract more fresh food stalls and to ensure the market remains sustainable. We will also continue to support the work of the Culbokie Woods Group, Culbokie History Group and groups helping to maintain the village. We would also very much like to re-establish 'Walk Culbokie!' and will endeavour to find new volunteers to take this on. The quality of our Board is absolutely critical to our success and we will continue every effort to maintain a strong, diverse and skilled board in the coming year and to plan for a smooth succession in Board roles. Principal Risks At the current time risks relate mainly to safe work practices during project and promotional work. These risks are managed on a case by case basis and appropriate insurance cover is in place. The charity's primary sources of income are member donations, grants and fundraising activities. This is dependent on continued strong local support, active volunteers and suitable grant aiding bodies. Culbokie Community Trust Ltd is also looking at other funding sources to allow projects to progress

8 Trustees' responsibilities statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the applicable Charities SORP; make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Independent examiner Colin Gray BCom CA, Chartered Accountant, Independent Examiner has been reappointed as independent examiner for the ensuing year. Small company provisions This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act

9 Statement of Financial Position 30 June Fixed assets Tangible fixed assets 15 88,487 88,671 Current assets Debtors Cash at bank and in hand 19,211 15,571 19,211 15,626 Creditors: amounts falling due within one year 17 1,986 2,591 Net current assets 17,225 13,035 Total assets less current liabilities 105, ,706 Net assets 105, ,706 Funds of the charity Restricted funds 87,918 87,959 Unrestricted funds 17,794 13,747 Total charity funds , ,706 For the year ending 30 June 2017 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees' responsibilities: The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476; The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements were approved by the board of trustees and authorised for issue on..., and are signed on behalf of the board by: K B Morrison Director Company Registration Number: SC

10 Detailed Statement of Financial Activities 30 June Income and endowments Donations and legacies Donations Local giving donations 1, Membership donations 625 2,271 1,595 Charitable activities Grants HIE 1,000 Grants - Highland council Grants Scottish Community CLE 394 Grants - Other 50 Grants - Ferintosh Community Council ,500 Other trading activities Fundraising events 3,293 1,364 Membership 95 Market income 1,618 1,262 4,911 2,721 Total income 7,873 5,816 Expenditure Costs of other trading activities Fundraising costs Market expenses 807 1, Expenditure on charitable activities Subscriptions Insurance Printing, postage and advertising Accountancy and legal fees Feasibility study 4,938 Project development 748 Depreciation Training 145 Hall hire 318 Services charge and donations 98 General ,334 7,874 Total expenditure 3,867 7,924 Net income/(expenditure) 4,006 (2,108) - 9 -