Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST CHARITY NUMBER: SC038459 COMPANY NUMBER: SC290368
TRUSTEES REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025
Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
INFORMATION PAGE
| Directors | Alyson Hunter |
|---|---|
| Peter Johnston | |
| Gregory Manning | |
| Gwyneth Petrie | |
| Sarah Robinson | |
| Janice Smith | |
| Gillian Walker | |
| Patricia Scott | |
| Secretary | Janice Smith |
| Charity Number | SC038459 |
| Company Number | SC290368 |
| Registered Office | New Flinder |
| Wardhouse | |
| Insch | |
| AB52 6YY | |
| Business Address | New Flinder |
| Wardhouse | |
| Insch | |
| AB52 6YY | |
| Accountants | Hall Morrice LLP |
| Chartered Accountants | |
| 6 & 7 Queens Terrace | |
| Aberdeen | |
| AB10 1XL | |
| Bankers | Royal Bank of Scotland |
| 21 Market Place | |
| Inverurie | |
| AB51 3PU | |
| Bank of Scotland Plc | |
| The Direct Business Bank | |
| Edinburgh | |
| EH11 1YH |
Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
CONTENTS
| Trustees Report Independent Examiner’s Report Statement of Financial Activities Balance Sheet Notes to the Accounts |
Page 1-2 3 4 5 6-9 |
|---|---|
Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
TRUSTEES REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustees submit their annual report and the financial statements for the year ended 30 September 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accountancy and Reporting by Charities” issued in 2015 in preparing the annual report and financial statements of the trust.
Objectives and Activities
The charity’s objectives is the advancement in the development of the community and in particular to promote rural regeneration of the area around the wind farm at Foudland by providing benefits for the welfare of residents and visitors to that area. Contributions are received from third parties including Glens of Foudland Wind Farm Limited in order to meet these objectives.
Annual donations will be made throughout the working life of the wind farm to support local good causes within the community council areas of Strathbogie, Tap O’Noth and Bennachie.
The benefits will include the provision of or procuring the provision of and management and maintenance of social, recreational, health, educational, cultural and environmental facilities.
Achievements
During the year contributions were received from Glens of Foudland Wind Farm Limited totalling £47,107.
The cost of living crisis has strongly impacted everyone in the community and the Glens of Foudland Windfarm Community Trust is receiving a greater number of grant applications than ever before. The decision was made by the Trustees at their AGM to allocate funds for community benefit if required rather than to add funds to the Evergreen Fund. This year the entire funds from the windfarm were allocated and additional funds to make up the shortfall were taken from reserves. The Glens continues to play a large part within the community and has an important role to play to ensure funding is provided for the most significant and needed widespread community benefit.
The trust awarded donations to local causes totalling £59,377 as detailed in note 5 to these accounts.
Financial Review
During the year the trust received contributions totalling £52,800 and distributed donations totalling £59,377. The trust made a Deficit of £11,181 (2024 Surplus - £13,278).
A total of £159,066 of the trust’s funds are held in listed investments via Redmayne Bentley. This is to allow the funds set aside in the Evergreen Fund to grow allowing the fund future longevity.
The unrestricted fund at 30 September 2025 is £342,714 with £289,783 set aside in the Evergreen Fund and the remaining £52,931 available for general use and distribution to grant applicants.
Structure, Governance and Management
The charity is a company limited by guarantee, governed by its Memorandum and Articles of Association and recognised as a charity by the Office of the Scottish Charity Regulator in accordance with the provisions of The Charities and Trustee Investment (Scotland) Act 2005. In accordance with the Memorandum of Association, every member is liable to contribute a sum of £1 in the event of the company being wound up.
The directors, who also act as trustees for the charity, and who served from 1 October 2024 were:
Alyson Hunter Gillian Walker (Appointed 4 December 2024) Peter Johnston Patricia Scott (Appointed 12 August 2025) Gregory Manning Gwyneth Petrie Sarah Robinson Wilma McIntosh (Resigned 3 December 2024) Janice Smith
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Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
TRUSTEES REPORT (CONT’D) FOR THE YEAR ENDED 30 SEPTEMBER 2025
As set out in the Articles of Association the maximum number of directors shall be nine. The members may appoint further members as an when it is desired.
Prospective trustees submit a statement relating to their interest, experience and expertise for consideration by the board, before being put forward for nomination at the annual general meeting. Any member of the charity is entitled to nominate and elect trustees at the annual general meeting. The board of management can co-op further trustees to serve until the next annual general meeting.
Following appointment of a new trustee, induction sessions are held. At these events, trustees are updated on the history and ethos of the charity, current issues and plans for the future.
Risk management
The directors have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks.
Statement of Directors' Responsibilities
The directors, who also act as trustees for the charitable activities of Glens of Foudland Wind Farm Community Trust, are responsible for preparing the Trustee’s 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 directors to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Directors
Peter Johnston Director 7 April 2026
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Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
INDEPENDENT EXAMINER’S REPORT
TO THE MEMBERS OF GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
I report on the accounts of the charity for the year ended 30 September 2025 which are set out on pages 4 to 9.
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 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 Independent Examiner’s Statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. 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 seeks 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 accounts.
Independent Examiner’s Statement
In the course of my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations.
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Shonagh L Fraser MA CA On behalf of Hall Morrice LLP Chartered Accountants Aberdeen, 7 April 2026
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Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Year | ||
|---|---|---|
| Ended | Unrestricted | |
| 30.09.24 | Funds | |
| Total | ||
| £ | Income and Endowments From: | £ |
| 43,208 | Donations Received | 47,107 |
| 6,602 | Investments | 5,693 |
| 49,810 | Total Income | 52,800 |
| Expenditure On: | ||
| 1,610 | Investment Management Costs | 1,693 |
| 34,922 | Charitable Activities (Note 4) | 62,288 |
| 36,532 | Total Expenditure | 63,981 |
| 13,278 | Net Surplus/(Deficit) | (11,181) |
| Other Recognised Losses: | ||
| 12,223 | Unrealised Gains on Investment Assets | 4,414 |
| 25,501 | Net Movement in Funds | (6,767) |
| 323,980 | Total Funds Brought Forward | 349,481 |
| 349,481 | Total Funds Carried Forward | 342,714 |
| ====== | ====== |
The statement of financial activities includes all gains and losses recognised in the year. All incoming resources expended derive from continuing activities.
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Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
BALANCE SHEET AS AT 30 SEPTEMBER 2025
| 2024 £ Fixed Assets 152,285 Investments (Note 6) Current Assets 564 Cash in Investment Account 197,432 Bank Current Accounts 197,996 Creditors: Amounts falling due within one year: - 800 Other Creditors 197,196 Net Current Assets 349,481 Net Assets ====== Represented by: Accumulated Funds 349,481 Unrestricted Funds (Note 7) ====== |
£ 629 185,819 186,448 2,800 |
2025 £ 159,066 183,648 342,714 ====== 342,714 ====== |
|---|---|---|
The directors confirm that the company was entitled to exemption from the requirement to have an audit under the provisions of section 477(1) of the Companies Act 2006 and that the members have not required the company to obtain an audit for the year in accordance with section 476(1) of that Act. The directors acknowledge their responsibility to ensure that the company keeps accounting records in accordance with section 386 and to prepare accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its results for that financial year in accordance with section 394 and which otherwise comply with the Companies Act 2006 as far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were authorised for issue and approved by the Board on 7 April 2026.
Peter Johnston Director
Company Registration No. SC290368
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Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
NOTES TO THE ACCOUNTS YEAR ENDED 30 SEPTEMBER 2025
1. Accounting Policies
(a) Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are round to the nearest £.
(b) Going Concern
The charity has adequate resources and is reasonably well placed to manage future risks. The management committee have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The management committee believe that there are no material uncertainties that call into doubt the charity’s ability to continue. The financial statements have therefore been prepared on the basis that the charity is a going concern.
(c) Income Resources
- All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
(d) Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Charitable activities costs are those which directly enable the charity to provide its service. Governance costs are costs incurred which do not directly relate to the charities service.
(e) Grants
- The charity can make grants or awards, either to other charitable institutions or nongovernmental agencies or individuals.
(f) Fixed Asset Investment
- Fixed asset investments are initially measured at transaction price excluding costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
(g) Debtors
- Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
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Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
NOTES TO THE ACCOUNTS (CONT’D) YEAR ENDED 30 SEPTEMBER 2025
(h) Cash at Bank and In Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(i) Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount.
(j) Value Added Tax
The charity is not VAT registered and as a result all VAT on expenditure is irrecoverable, therefore it is included in the relevant expense or asset cost as appropriate.
(k) Taxation
The charity is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities.
( l) Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Any designation is as per Note 7.
2. Management Committee Remuneration
None of the trustees were paid any remuneration or expenses by the trust during the year (2024 – Nil).
3. Independent Examiner’s Remuneration
The independent examiner’s remuneration constituted an independent exam fee of £930 (2024 - £870).
| 4. | Charitable Activities | 2025 | 2024 |
|---|---|---|---|
| Activities undertaken directly | £ | £ | |
| Grants Awarded to Organisations (Note 5) | 59,377 | 31,719 | |
| Support costs | |||
| Website Expenses | 104 | 104 | |
| Insurance | 489 | 476 | |
| General | 68 | 233 | |
| Governance costs: | |||
| Honoraria | 1,320 | 1,520 | |
| Independent Examination | 930 | 870 | |
| 62,288 | 34,922 | ||
| ===== | ===== |
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Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
NOTES TO THE ACCOUNTS (CONT’D) YEAR ENDED 30 SEPTEMBER 2025
5. Grants to Organisations
| Grants to Organisations During the year, the charity awarded the following grants: Huntly Air Cadets Welfare Fund Gordon Rural Action Oyne Community Association Bennachie Leisure Centre Rannes Hall Management Committee Scottish Gymnastics Huntly RFC Shevock Burn Community Interest Company Gordon Schools PIP Old Rayne School Insch School PTA Garioch Carriage Driving for the Disabled Castle Street Coffee CiC Glass Community Association Drumblade Parent Council Insch Leslie & District Men’s Shed Fyvie Guide House Management Committee Rayne North Parent Council Greg Manning Defibrillator Gordon Rural Action Oyne School Parent Council Rhynie Charitable Trust British Nordic Development Squad Huntly Hairst The Rotary Club of Huntly During the previous year, the charity awarded the following grants: Friends of Jubilee Old Rayne School – Baking Equipment Bennachie Leisure Centre Gordon Rural Action COTAG 4x4 BLC Bursting at the seams project The Rannes Hall Management Committee G Manning Colpy Defib Insch & District Football Club Huntly Football Club Youth Development Tap O North Community Council Defib Glass Primary Parent Council GMcKen Gordon Highlander Veterans Old Rayne School Inschy Wincy Spiders Insch Tennis Club Huntly Hairst Culsalmond Community Association Bennachie Community Council = |
|
|---|---|
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Docusign Envelope ID: DB77776D-9BC3-4961-969D-3632A9B65AEC
GLENS OF FOUDLAND WIND FARM COMMUNITY TRUST
NOTES TO THE ACCOUNTS (CONT’D) YEAR ENDED 30 SEPTEMBER 2025
6. Investments
| Market Value As at 1 October 2024 Additions Disposals Revaluation As at 30 September 2025 2025 £ Listed investments at cost 140,831 ====== |
Listed Investments £ 152,285 22,298 (19,931) 4,414 159,066 ====== 2024 £ 140,117 ====== |
|---|---|
7. Unrestricted Funds
| At 01.10.24 General Fund £59,698 Evergreen Fund £289,783 £349,481 ======= |
Incoming Resources £52,800 - £52,800 ====== |
Outgoing Resources £(63,981) - £(63,981) ====== |
Gain on Investment £4,414 - £4,414 ===== |
Transfers - - - ====== |
At 30.09.25 £52,931 £289,783 £342,714 ======= |
|---|---|---|---|---|---|
Evergreen Fund
During the year £Nil was allocated to the Evergreen Fund (2024 – £25,501).
All Net Assets relate to the Unrestricted Funds.
8. Related Party Transactions
There were no related party transactions during the year (2024 – Nil).
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