Charty Registratlon No. SC017286 (Scotland) Company Reglstratlon No. SC165677 (Scotl8ndl VOLUNTARY ACTION SHETLAND A COMPANY LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
VOLUNTARY ACTION SHETLAND LEGAL AND ADMINISTRATIVE INFORMATION Directors M Flaws IChairperson} V Niwlson L Tulloch IVi¢e Chairperson} I Webb B Wlcock M Brill Secretary and Exo¢Utlve OfflGgr L Tulloch Charity number (Scotlandl SC017286 Company numbor SC165677 Rfjgistered offlce Market Hous8 14 Market Street Lerwbck Shetland ZE1 OJP Audltor A.J.B. Scholes Ltd st olafs Hall Church Road Lerwiek Shetland Isles ZE1 OFD Bankers Bank of Scottand 117 Commeraal Street Lerwick ZE1 ODL
VOLUNTARY ACTION SHETLAND CHAIRPERSON'S REPORT FOR THE YEAR ENDED 31 MARCH 2026 Vvelcome lo the Voluntary Action Shelland IVAS) Annual Report 2025126. Once again, l am amazed at the amount of work that the staff have carried out lo support the voluntary sector of our community. More and more charities and Community groups are using VAS for support, advlc* and information lo ensure their organisations are run effectively and govemed well. Our annual Saltire Awards Ceremony has highlighted that young people are doing increased amounts volunteering, helping others and making a positive impact In their communities. The number of awards increased from 164 in 2024 10 185 in 2025 wth young people supporting their l(Kal clubs and communities all the way from the South Mainland Swmming Club lo the Uyeasound Hall. Our Chief Executive along wth other Third Sector and Slalutory Leaders attendod events last year on th8 mainland with a key agenda of Wthole Family Support. WOlg Together To Get It Rhr. John Swnney MSP, the Fitst Minister for Scotland, sel out his vision for whole family support and gave his commitment towards working together to remove all barriers to make this happen. VAS is workin9 hard wf(h partner5 to support Third Sector's increased collaborati¢)n with ststutory partners to work better together for positive outcomes for those in our community. I hope you enjoy reading mole about our work over the last 12 months in thi5 report. None of the work in our annual report would be possible without our hard-working staff and funders who each year see Ihe benefits of VAS and keep supporting us, thank you for your continued investment. I would also like to sincerely thank our Board Members for giving up their time lo attend board meetings, ensuring that the staff have the necessary finan¢05 and resour to cary out Ihoir duties in supporttng charitles and community groijps. Thank you all. Magnus Flaws- Chairperson 28 July 2026
VOLUNTARY ACTION SHETLAND DIRECTORS, REPORT FOR THE YEAR ENDED 31 MARCH 2026 Th9 trustees, referd lo as 'director8', ar8 pleased to present their annual directors, report together with the rinancial slalements of the charity for the year ending 31 March 2028, which are also prepared to meet the requirements for a directors, report and accounts for CompaniesAcl purposes. The financial statements compty wlh the ChaTities and Trustee Investment Iscolland) Act 2005, the Charfties Accounts {Scollandl Regulations 2006 las amended), the Companies Act 2006. the Memorandum and Artides ol Association, and Accounliro and Reporting by Charities: Slaement of Recommended Prath"ce applicable to charities preparing their accounts in accordanc8 with the Financjal Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 las amended for accountlng periods comm9nGing from 1 January 2019}- ObJecUvos and actlvltles The company's objects and principal activities are.. To promote any charitable purposes for the benefit of the inhabitants of Shetland and in particular the advancement of education, and rtheranC? of health and the rellef of povety, distress and slckness. To promote and organise co.operatson in the achievement of the above purposes and to that bring together in Counal representatives of the slatLrtory ahoritieS and voluntary organisallons engaged in the furth8rance of the above purposes or any of them wthin Shetland. To do all other things as will properfy attain the above purposes. The VISION for Voluntary Adion Shetland is.. A Strong, Su$talnable and Valued A88•t for Shètland, playlng a loading rol• in Champlonlng and Supportlng Communlty Needs. The MISSION is.. To Support. Rgprtsent and Develop Communlty and Voluntary Actlon In Sh•tland. Delivered through CORE Activty.. To be a Contral Sourco of Knowlodge- About the Third Sector locally,. about local and national policy and how it might affect l¢xal Third Sector and Volunteers,. And how the Third Soctor can contribute to those agendas To be th• Volce Ensurin9 a Strong Third Sector Voice 31 strategic level wlhin Local Plannlng Structures and Nationally To Build Capacity- Developing the capacty of volunteerin9, community groups, voluntsry ¢yganisation and Soual enterprise lo achieve positive change To Connect- Providing leadership, vision and CCtrordinati¢Jn lo the local third sector lo better respond to local priorities, including through partnership and collaboration In Partnershi th the Shetland Partnershi Partiupation People Plan.. Place Money To achieve Ke Outcomes.. Voluntary Action A proactive, Shetland is respected board renowned as an people want lo join exemplar m¢xlel for the Sector Highly regarded in the Community and wth Stakeholders Making a tsngible difference to the Third Seetor in Shetland Taking action to Target Emissions In line with Net Zero Our Guidin Values will ensure we are.. Inspiring Leading Collabor81ive Sustainable
VOLUNTARY ACTION SHETLAND DIRECTORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Voluntsers During the year the charity was dependent on volunteers for the continued proviwon of one of thew t1irecl delivery projects.. The Shetland Befriending Scheme. Volunteer befrienders provided 1".1 support to support ehildron, young people and adults in the community. VAS also has a volunteer handyperson lo support with on-going Mart(et House activty. A total of 30 volunteers contributed towards the lolal volunteer hours for the year of 1.714. Tho estimated monfylary value of this is £23,053 based on the Real Living Wage- £13.45 per hour. Last year VAS Volunteering had 594 enquires alx)ul volunteering, provided 1..1 support lo place 32 Individuals into volunteering opportunities and presently has 77 volunteering opportunitses registered wlh them.
VOLUNTARY ACTION SHETLAND DIRECTORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Achkvoments and pèrfom)ancg 1. To bo a Central Source of Knowlodge Volunlary Action Shetland (VASI is Shetland's Third Sector Interface. VAS provides a single point of access for supp)rt and advice for the Third Sector within Shetland. There are 32 Third Sector Interfaces s1,$) in scOand with one sthated in oath local aulhorty area in Scotland, TSI'S play an Important role in the Third Sector landscape. They are a key point of intelligenc8 oul Ial third sector organisations and volunteering. They understand the local landpe and how il effects the third seciorfs ability to ntribUte to local outcomes and national strategies (such as health and soaal re, community empowefmenll. TSI'S are well positioned to identify support needs for lo1 community groups. voluntary organisations, social enterprises ané around voluntsering. TSI'S Can identify third seetor issues and per8pects.ves that can feed Into both local ?nd national policy. Key 06velopment and Support work wlh organisalions h8V8 in¢luded'. Identfying appropriate legal structures for third sector organisations and helping groups through CIC registration, the SCIO process and charity registration for both new and existing organisations Supporting the establishment of new community organisalions and dissolving Organisatn$ Supptyting groups lo 'reorganise' and amend trust deeds Supporting groups lo establish rf subsidiary trading companies are required and 8UPPOrt to set up suitsble kgal structures Liaising with l)odies who have been given devdved powers in Trust Deeds to remove tlx)$e powers," Liaising with the charity regulator OSCR Governance - Modernising constitubons and supporting groups to change their constiiutionslwriling supplementsl ddS of trust and supporting dritable ¢ompanies to change their Memor8ndum and Articles ofAssociations Helping groups understsnd the roles and responsibilities of Irusteesldirectors Strategic planning support for groups Recruiting commlttee membersrtruslees and succession planning Advi on establishing policies and pro¢UreS Ilncluding Conflict of Interest, Equality & Diversity, Fair Work, Data Protection IGDPRI, Volunteer Induction Supporting charities to mplY wth OSCR regulations Imeeting deadlines for Trustoa Annual Reports and Annual Accounts) Keeping charities up lo dat8 wth the implementation of new Charity Law (trustee database, new trustee disqualification criteria etc} and other changes to legislation such as the Disclosure (Scotlandl Aet 2020, th8 New Fundraising Code of Practice. Companies House Identity verrfication of Chanty Directors, Charity SORP., Querfes around disdosure and PVGS, electricity eosls and suppliers, insurance, Independent examination, bank accounts, data proteckn"on, financial Tecord keeping, fundraising. health & safety (risk assessmonl, first ald, safeguarding), food hygiène training, licensing laws. gambling licenses, conveyancing, employment, trading, land and buildings transaction tax and VAT. Last year 106 organisations received dir¢et $LSPPOrt trom VAS staff on a range of topics. VAS also circulated 29 general newsletters. 29 fijnding newsletters, 5 Cllmate newslettefs and 116 Information e-bullelins were sent out. ApproximÈly 230 people represenlng approximately 200 organis*ionslgroup$ have received the newsletters.
VOLUNTARY ACTION SHETLAND DIRECTORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 2. To be the Vol¢e VAS engage5 in a number of National and Local Stral8gic Partnerships, forums and working groups lo enable voluntary groups and organisalions lo have a voice and the opportunty lo contribute. Last year 119 Meeb'ngs were attended al 44 Mulli Agency Groups- Local and National. VAS continues to represent the Third Sector on various strategic groups and fowm$. The list of representation can be found on the VAS web51te'. ni This allows the Thlrd Sector contribution to the Shetland Partnership Plan 2018-2028 and th& ddivery of th? irKlicalors around Participation, Place. People and Money to be recognised. As part of the Publlc Sector Refom) agenda and the Scottish Govemmenls eommilment to tackle Child Poverty, there has been an increased need for all partners to work better together for improved outcomes for Children and Families. VAS sils on a wide range of strategic partnerships lo support a more j(Mned up approa¢h of swvice provision across statutory and third sector, alongside supporting a shift in early intervention and prgvenlion. Some examples of working alongside other Third Sector org8ni$alions, Volunlary ActKJn Shetland SUPkK)rted Third Sector Partners to contribute to.. Shetland Local Employability Partnership Development Day How good is our Third Sector in Local Children Services Planning t¢)olkil th Children in Scotland colleagues A range of Local Patherships Annual Reports 202412025 VAS ¢onlributed information On more lo support the publication of Shettand in Stslistics. no-44-shetland-in- statistics-2024 The vital services of the third and voluntary sector continues lo support the people and communrties of Shetland to feel included, empowered. resilient and safe. VAS provides support lo the $9¢tor lo enable organisations lo operate well in the communty and develop to meet local nèèd.
VOLUNTARY ACTION SHETLAND DIRECTORS. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2026 3. Bulld Capactty Assoclatlon of Charltles Independeni examlnors All Third Sector groups need lo have their accounts hecked to make sure their finances are managed property and running smoothty and all règlstered chIlIeS are required to file accounts and relums with OSCR. VAS has three members of stsff who can independently èxamine accounts for voluntary organSs81ions and charities with an income less than £100.000 and help them meet thei¥ legal requirements. VAS undertook 54 independgnt 8xaminat.ons last yoar. Communities Mental Health and Wtllbelng Fundlng for Adults - Along wth other Third Sector Interface's threughout Scotland, Voluntary Action Shetland distributed a 5th year of the Scottish Govemment Community Mental Hearth and Wellbeing Fund forAdu118 to support Communty activity until Marth 2027. Shelland's initial allocation for year 5 totslled £71.522.98 and there was addibonal fvndlng promded totalling £14,310.60 after the First Minister's announcement on 29th December 25. £1,577.28 was reluined to VAS from prevlous year awardees, hence the lotsl for VAS lo allocate for year 5 of the fiJnding was £87,410.86. The overarching aim of the Fund 1$ to.. Support community-based inf(ialives Ihal promote and develop good mentsl he8llh and wellbeing andlor mitigate and proled against the impact of distress and mental ill health wthin thg adult population {ag¢d 16 or overl. with a particular focus on prevention and earfy intgrvgntion. 18 Community GroupslOrganisatSons Received Funding lo Support Locgl Initiatives Valla Fund - The Vaila Fund was established in 2009 and is managed by VAS. The fund financially assists disadvantsged young people in Shetland to experience the joy of travel- young pèople vi&t exciting new places, and delight in leafning about new QUUreS, history, foc#J, traditions, and activities. The trips irtrease tt)e confidence and independence of the young people as well as strengthening existing friendships and eslablishiNJ new ones. 7 Awards Granted lotalling £4,295 8nabled seven young peoplg to experience travel.
VOLUNTARY ACTION SHETLAND DIRECTORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Support - VAS provides tailored and flexible support to build the ¢apacity of as many voluntsry organisations In Shetland as possible by responding lo queries as they arise. and through targeted support and training. In providing the support, it enables local groups to run well which. in turn, supports them to meg1 bcal needsl domands. This year VAS staff assisted 106 organisations with one to one advice on a range of topics. Key issues stsff supported groups on have been stipulated in the central souic• ol knoedge section. VAS also Provided 9 Charities wf(h Monthly Payroll andlor accounts support. Tralnlng- VAS staff have provided training to groups and organisations. Topics have induded.- Roles and Responsibilities of Trustees trainlng Ri$kAssessmenl Training Financial Management Training Trauma Informed Awareness Training Train the Trainer Trauma Infornied Awarene$5 Training Organisats'onal Slrudures National Training for TSI Advisors on Charity Re-organisalion and SCIO'S Volunteers Week 2nd- 8th June 2025 - VAS held the Saltire Awafd Ceremony in Volunteers tek to recognise and eelebrsle young volunteèrs. VAS also shared P¢)Sts on Faeebook where organisalions had said thank you to their volunteers. Additional promotion was a window display at Market House and a social media promotion on volunteering opportunities registered with VAS grouped into categories.. Youth l Board Member Trustee I Care and Support l Home based l Nature and Animals I Sport and Leisure. Trnstee5' Week 3rd - 7th Nov8mb8r 2025 - Trustees. Week. celebrated the vital contributions of charty trustees across Scotland and the UK. Trustee5' Week is an annual event that recognizes the important work carried OLrt by nearfy one million charty trustees across the UK. It serves as a plafform lo celebrate their achievements, encourage more people to consider becoming trustees, and Prowde opportunitses ft)r skills development and networking within the charrty sector. 2025 year's national theme was.. Good Goveman - strong boards for sustainable Ooanisatns. VAS undertook a weeong Social media campaign lebrating several Trustees from local chari(ie$. PromotSng Volunteerlng - The VAS Volunteering leam have continued to support individuals to find suitse volunteering opportunities and also support organisations to recruit and reward their volunteers in the past year. Highlights included a re¢ord-breaking number of volunteer5 being pul forward for our Saltire Awards and a third really SUCSful year of our'wlllin Haands, and 'Peerio Trows, Awards. VAS Volunteering slaff were out and about in the communty attending the Llving Well Hub in Brae, Jobcentre+, Community Hubs, schools and youth groups. Staff once more attended larger events in¢luding the Country Shows and Careers Events. 704 voluntary organisations Tegistered wth VAS 1018 adive volunteers registered- 928 youth volunteers {under 2518nd 90 adult volunteers 15 new volunteering opportunities promoted for organisations lookln9 for volunteers 77 active opportunities on our database 32 Volunteers giv&n 1..1 SUPF)Ort lo find, be placed and supported into a volunteering opportunty 594 enquiries from volunteers 285 enquiries from volunteer involving organisations 104 Organisalions supported on volunteering issues
VOLUNTARY ACTION SHETLAND DIRECTORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Saltlre Awards VAS were delighted to host the annual Saltire Awards Cgremony al Mareel on Tuesday 3rd June 2025. Another rerd-breakIng year of volunteering for young people saw thè age limit for Saltire Awards lowered to 11, which no doubt contributed to the high number of young volunteers pul forward ft)r an award. 185 young people received a total of 335 ¢efiCateS bewn them. recognising the over 22,500 hours of volunleerlng they had colledively taken part In within 70 different local groups, Schools and organisations. Musical entertainment on the night was provided by the Forget Me Notes, a talented group of young fidd players, who welcomed everyone with their tradrtional tunès before the ceremony began. Thls year, the majority of the event was led by a group of young vdunleers who were part of the Shet5and Youth Voice. Ava, Kali, Erin and 8eeni&Ann not only opened the event with a speech but also pfesenl8d and r88d out the case studies for most of this year's awardees. Once again, organlsations who had pul fOnard a large number of volunteers were highlighted throUoUt the evening. The WKle range of groups ranged from the exryessive arts of drama and dance, to those supporting the wider community Ihiough peer support and loeal events. Al the end of the night. 8 young people received a Summit Award. This is the most prestigious S811ire Award which is only achieved by volunteers who have been nominatfjd by their supervisors for making an outstanding conlribulion to volunteering in their local area. Volunteers receiving this accolade represented Shetland YoLrth SeNices, Cope Ltd., Open Door Drama and Shetland Army Cadets. The event was brought to a close by one of this year's Summit Award recipients, Vaila Thompson. She wrapped up the evening with a speech about her impressive volunteering joumey across several very different aspects of her life. VAS Volunteerfng Awards - The VAS VolLtnleering Awards were launthèd for a 3rd year in September 2025. The awards consist of categories, the 'Willin Haands Award, for adults aged 26 and over, and the 'Peerie Trows Award, for children 118nd under. The awards complemenl the national Saltire Awards scheme, which VAS deliver annualty to recognlse young people and Ihelr volunteering efforts aged 1110 25. The aim of the VAS Volunteering Awards is to recognise and celebrate Shetland's many wllling help¥s and volunteers of all ages help out and volunteer in their eommunitses the length ar breadth of Shetland. We recognised all volunteers l)olh fomial and informal, who help out through volunteer involving organisalions and infomially by helping in their local Communities, supporting neighbours wth shopping, welfare chgcks. baking for teas, litter picking and many other activities. ThgAwards also focused on Trustees this year. 49 nominations were received for 48 awardees.. 42 Wllin Haands- for adults aged 26+ 6 Peerie Trows- for children aged under 12 Certificates were awarded acr088 the length and breadth of the Isles. Vduntsry s8rvi¢gs and acts of kindne$$ the recipients provided for Shetland included being good neighbours, providing many years, service to recording and sharing Shetland's history, helping al Ihg local hall or dubs and organisations, eommittee memters, supporting vulnerable folk, cleaning verges and picking up litter and fijndraising to mention a few, many providing several years of volunteerlng. Youth and Phllanthropy Inltlatlve - In addition lo core activities. VAS Volunteering has supported the Iccal delivery of the Youth and Philanthropy Inith*ive IYPI) in secondary schools across Shetland for the third year running. YPI is the biggest independent initiative being delivered across Scottish education, where each school is sponslble f¢y directing a gfanl of £3,000 lo a local charlty champion by ils students. YPI engages students in a powerful active citizenship programme, empowering young people to make a difference in their eommuniti8S while developing a range of skill$ and knowledge on social issues and local charities. Locally, VAS have continua to C¢)•facilitale the final showcase event al 6 SecondarylJunior Hlgh Schools, where pupils present their case for a chosen charity. VAS are looking forward to continuing their partnership with The Wood Foundation and YPI in the upeoming academic year.
VOLUNTARY ACTION SHETLAND DIRECTORS, REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 4. To Connoct VAS continues to connect through various forums and netsvorks. Thlrd Soctor Forum: Facilitated by VAS, an independent nehvork of third sector organisation$ in Shetland that meets bimonthly to share good practice. 29 members in the forum. Shetland Communlty Fa¢llltlÈs Network.. The Netsvork aims lo provide a regular platfom for voluntary groups and organisali¢Ms who manage a comrnunty faality to neOrk, leam, ¢ollaborate and share infomation lo improve the management of the fac41ilies for the community. 78 organisalions supported through the neOrk. Mark•t House.. Shetland's Third Sector Hub, ¢)wned and managed by VAS. It is the office base for 13 Independent Charities including VAS. Last year Market House had 4834 visits and 3396 room bookings 1292 extemal & 3104 resident groups). More information on Markel House, resident organisakn'ons and costs for room bookings can be viewed online al.. rk Volunta Action Shetland Cllmate Actlon Actfvlty Shetland Communlty Cllmat8 Action Network.. Continuing lo work in partnershlp th the Shetland Islands Council, Island Centre for Net Zero, Islands Communty Action Neork, Highlands and Islands Climate Hub, Highlands and Islands Enlerprise, Local Energy Scotland, Community Eneigy Scouand and Uplrft to support groups and individuals interested in climate related activity in Shetlantl. The Nelwork aims to briTrJ together interested parties, coordinate ad'wty, resourees and signpost where relevat)l. VAS supports the netrlork wlh regular bulletins on climate related news and funding opportunities. Shotland Cllmate Café: 5 Café meetings were held during this pgriod on the topics of MMUnty growing, Peer learning from the Oxford Climate Collective, SG Climate Chang8 Plan consultsts'on, Circular Economy INHS Warp It and Cope Home store), Xmas crafts, Intsngiije Culture and natural heritage. with a total of 75 people attending the cafes. Scottish Govornmont Draft Climate Plan consultatlon: facilitated workshops were delivergd for people to attend to provide their thoughts on the draft plan which were fed back through the Royal Scotts'sh GraphICal Souety VAS continued lo utilise their social media presenee with the Voluntary Actlon Sheuand Facebook ge and the Voluntary Action Volunteering Fac¢bgok page. VAS are also on Inslagram - the number5 following, reacting and sharing the information ¢onlinues to grow and VAS have also used swal media to promtrte their work, celebrate achievements, promote volunteering and arculate inforniation on a range of topics including fvnding. training and consullats'ons relevant to the sector.
VOLUNTARY ACTION SHETLAND DIRECTORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Flnanclal revlew Voluntsry Ath'on Shetland ha$ ¢onfimed funding from the Scottish Government until 31st March 2027. The Scottish Govemmenl is an annual grant for Core Actlvtty. VAS was Se$Sl in securing funding frun the Shetland Charitable Trust lor Core Activity for the nexi year untrl 31st March 2027 with indicative funding for the next 4 years up to 31 st March 2030. In the year to 31 March 2026 the charty has added £83,510 arKI used £94,693 of unreslricled rg$8rv8$ to support VAS aG¢ivity leaving £271,034 to carry forwar¢J in unrestricted reserves afiertransfers. Voluntary Action Shelland has been successful in attracting funds for the organisalion and during the financial year to 31 March 2026 received restricted funds of £818,092 for specific projects. In the year £846,019 was spent in delivering services for those projects. with some of the funding havlng been rKeived in previous years. therefore the balance of restricted income and capital restricted hjnds to lake forward into 2026 are £300,478 and £417,207 re8pe¢tivety to support ongoing valuabKg work for the Gommunity and the third sector. Prfnclpal Fundlng Sources Revenue Funding 18 received from Scottish Government, Shetland Charitable Trust and Shetland Islands Council. External funding for projects includes, The Wood Foundation, The National Lottèry Community Fund, Shared Care ScoUand - Short Breaks, Shetland Community Benefrt Fund. Reserwes •nd going concern pollcy The directors have examined the charity's requirements for reserves in light of the main risks lo the organisatlon. They have established a policy where the unrestricted funds not committed or invested in tangible fixed assets held by the charity shoukl bè 3 months of expenditure. Relevant expenditure lexdudlng deprecialionl for 2028 w?s £853,223 8fKI therefore thg target is £213,306 in unrestricted fvnds. The reserves are needed to me81 the working capital requirements of the charSty and Ihe directors are confident that at this level they would be able to conllnue the Gurrent actiVTtiés of the charity in the event of a significant drop in fijnding. The PTesent level of unrestricted reserves aVailae to the charity is £271.034. Of this £145,363 has been designated for activity wth £125,671 being free reserves. The charity therefore falls short of the target level although the strategy is lo continue to bLJild reserves through 8elf-generaled charitable aclivi(ies. The total funds al the year-end were £988.719. Of this £372,503 represents the costs of the property hgld by the charity with a further £44,704 for future eapital and maintenance Costs. This then leaves £571,512 in working capitsl and fixed assets of whieh £300,478 Is included in restricted fvnds and can onty be used in aOrdance with splfi¢ conditions on each fund. The remaining designated fvnds of £271,034 and free re$erves were hdd at the year end for the pUlse$ described in the notes lo Ihe financAal statements. The p8nsion doficil has been shown separately lo allow the remaining Carry forward balance lo be shown. The deficrt is to be paid over the next three years and as such will be met through future fvnding and any necessary cost savings. The remaining carry forwards show that there are suffiaenl resour$ for the day-l04ay fequirements ol the Gharity for the loreseeable fvtU. The Directors are well aware of the shortfall in reserves, bul in the current financial climate it is bewming increasingty drfficull to build reserves, the Directors continue to be committed lo build reserves required realising that this may take longer than anticipated and not having the stated amount of reserves is an identified risk. The Director's continue to monitor level of reserve and utilise the income effeelively lo assist in the buihding the expected resesve amount. Capftallsatlon Pollcy Expenditure on fumilure and equipment is included In resources expended in the Ststement of Financial Activities when ineurred. No single equipment purchase wth a cost of t>elow £500 is lo be capitalised. 10-
VOLUNTARY ACTION SHETLAND DIRECTORS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Plans for the Futur• The Executive Offir of VAS has been asked lo continue lo deliver activities. indicators and outcomes on the following.. °To be a ¢enlral source of kno%edge on the sectoff, 'To be the Voice., 'To Build Capacity. anil 'Connect°. Voluntary Action Sheuand will eonUnue to 8UPPOrt the Third Sector in supporting activty to help wth the onNgoing impact of the cost of living challenges, supporting eady interyenlion and prevention and responding to l¢xal priorits'ès and needs. Structure, governance and managemènt Govèrning Documont The organisation is a charitsble company limited by guarantee, incorporated on the 15 May 1996 and registered as a charity on 15 May 1996. The charity's Memorandum and Articles ofAssocialion established the objects and powers of the charitable company and it IS govemed under ils Artlcles ofAssodalion. The dlrectors who served during the year and up to the dale of signature of the finanoal statements were.. M Flaws {Chairpersonl S Laidlaw (Finance Diredorl O MacLeod V Nicolson L Tulloch (Vice Chairperson} I Webb B Wlcock M Brill {Resigned 26August 2025 {R&signed 26August 20251 (Appnted 19 November 20251 Recrultment and Appolntment of Dlrectors The directors of the charity are also charity trustees for the wrposes of charity law and undor the company's Articles are known as Dirèctors of the Management Board. Under the requirement of the Memorandum of Articles of Associabon the members of the Management Board shall retire from office at each annual general meeting and are eligible to stand for re-election. VAS members. either individuals or individuals nominated via organisalions, who wishes to be considered for appointmgnt as a director at an annual general meeting, must lodge wlh the se¢tary a writtèn notice of their willingness to be appointed Iln such fomi as board might require), signed by them, 28 days prior to the date of the Annual General Meeting. The Board may at any time appoint (following the reuurtment proSSI any member lo be a directoreilher to fill a Van or as an additional director. Indemnlty In$urnnce The charty has tsken out indemnty insuran¢9 in favour of the directors. Dlr•ctor Induction and Training New directors lo the board are issued wth an induction and procedures manual containing relevant infomalion on the Charity, including the Memorandum of Articles of Association, staff infom)alion, relevant policy documents and the Annual Report. Induction meetings oceur between the board member and EXul1Ve Officer to ensure there is a suitable sharing of infomiation about the charity. A meeling of all directors ocojrs as soon as possible after the Annual General Meeting to introduce any new directors to other board directors and staff. 11
VOLUNTARY ACTION SHETLAND DIRECTORS. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Oryanlsotlonal Structure Voluntary Action Shetland has a Managemgnt Board of up lo 11 directors who meet 6 Ilmes per year. Currently there are 6 directors from a valiely of professional backgrounds, the Executive Officer also attend8 b08rd meetings but has no voting rights. The Executive Officer is the Company Secretary. day-towday operation and decisions of VoluntaryAction Shetland are delegated to the Executive Officer. Thè Executive Officer is restK>nsible for the delivery, management and monllodng of all grants awarded lo Voluntary Action Shetland and line manages all staff and projects under the umbrella of Voluntary Action Shetland. Vcduntsry Action Shetland is one of the 32 Interface Organi581ion8 Ihroughout Scotland and deliver ¢Jn four key aa$ for the government. Voluntary Action Shetland is recognised by Shetland Islands Council Community Planning Partnership as the interface organisalion for Shetland. A proportion of funding comos from the Seotbsh Govemmenl to deliver Services to the third sector locally. Pay pol5 for $¢nlor staff The directors together with the senior managemont team of eomprise the key management personnel of the harity in charge of directing and controlling, running and opèrab'ng the charity on a day to day basi5. All directors give their lime freely and no director received remuneration or expenses in the year. The pay of the senior Stsff is reviewed annually and is set with rgfergnce to COSLA pay scales. Risk manay•ment The directors confimi that the major rlsk to whlch the charty is exposed to have been considered and reviewed. The main risk is financial sustainability. The board monitor cash and reserves Tegulady. If incomo is reduced to an unsustainable level then services would be Toduced unless there are sufficient reserves available to bridge any fvnding gap. Should this issue arise there is the reserves fund which could be uts'lised however il is more likely that 8ervices would be reduced. Audltor A.J.B. Scholes Ltd were aprx)inted as auditors and has induled its willingness to conllnue in office. Disclosure of Infomiatlon to audltor The directors who wer8 in office on the dale of approval of these financial slalemenls have confimied, that Iherg is no relovant infornation of which the auditors are unawaye. Each of the dlrectors confirmed that they have tsken all steps that they ought to have taken, as directors, to make them aware ol any relevant audit information and lo establish that it has been communicated to the auditors. The directors. port was pproved by the Board of Director5. MFla Director Dated.. 28 July 2026 Chalrp•rsonl L Tulloch Ivlce Director Dated'.28 July halrper8onl 26 12-
VOLUNTARY ACTION SHETLAND STATEMENT OF DIRECTORS. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2026 Th& directors, who also act as trustees for Ihe charitable activities of page 1, are responsible for prepanng the Directors, Report and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Aepted A¢untIng Practice). Company law requires the direelors to prepare financial slalements for each financi81 year which give a true and fair view of the stale ()f affairs of the charity and of the incoming resources and application of resources, including the in¢ome and expendlture. of the charitable company for that year. In preparing these financial stalernenls, the directors are required to.. select suitsble accounting policies and then appty them consislenUy', observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial statements., and prepare the financial st*ements on Ihe going concern basis unless rt is inappropriate lo presume that the chanty will continue in operation. The directors are responsible for keeplng adequate accounting records Ihat disclose with reasonable accuracy at any time the financial position of the and enable thern to ensure that the financial ststemenls Gomply with the Companigs Act 20(, the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for lakirKJ reasonable steps for the prevention and detection of fraud and other irregularities.
VOLUNTARY ACTION SHETLAND INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF VOLUNTARY ACTION SHETLAND Oplnlon We have audited the finaneial slalements of Vduntary Action Shetland (the 'charitable ¢ompany') for the ye8r ended 31 March 2026 which comprises the Statement of Finanryal Activib'8s, the 88lance Sheet, the Stslement of Cash Flows and notes to the financial statements. including a summary of significant aceounling poliaes. The financial reporting framewort that has been applied in their preparatK)n is applicable law and United Kingilom Accounting standards, including FRS 102 "The Financial Reporting Standard appllcable In the UK and Republic of Ireland" Iuniled Kingdom GenerallyAccepted Accounting Practice). In our oplnion, the financial statements.. give a true and fair view of the state of the charitsble company's affairs as at 31 Mah 2026 and of its incoming resources and application of resources, for the year then ended., have been property prepared in 8rdance wlh United Kingdom G9nerally Accepted Attounting Pract1., and have been prepared in aceordance wlh the requirements of the Companies Acl 2006, the Chariti8s and Tnjstee Investment IScotland} Act 2005 and regulation 8 of the Charrties Acwunts (Scotlandl Regulations 2006. Basis for opinion We have been appointed auditor urKler ¥ecti¢)n 4411llc) of the Charilies and Truste8 Investment (Scotlandl Act 2005 and under the CompaniesAct 2006 and report to you in accordance with reguL4tions made under thoseActs. We conducted our aL1t in accordan wrth Intemational Standards on Auditing {UK) IISAS IUKII and applicab law. Our responsibilities under those standards are further described in the Auditorfs resF)onsibilitses for the audit of thè finaneial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to OUT audrt of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audrt eviden we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to going eon¢em In auditing the financial statements, w8 have concluded that the directors, use of the going concern basis of accounting in the preparation of the finarrial stslemenls is appropriate. Based on Ihe work we have perfomed. we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may Cast significant doubt on the charity's abilty lo continue as a going concern for a period of at least e1ve months from when th8 financial slalements are authorised for issue. Our r8spon$ibililies and the responsibilities of the dire¢tors wth respect to going Goncem are described in the relevant sections of this report. Other Inforniatlon The other infomialion eomprises the infomialion included in the annual report other than the accounts and r auditor's report thereon. The directors are responsible for the other information contained wlhin the annual report. Our opinion on the a¢counts tloes not cover the other information and, except to the extent olhewise explicl(ly slated in our report, we do not express 8ny fom of assurance ondu$ion Ihereon. Our responsibility is to read the other informabon and, in doing so, consider whether the other infomiation is materially inconsislenl wlh the accounts or our knowledge obtained in the audrf( or othetwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required lo detemlne whether this gives rise to a material misstatement in the accounts themselves. If, based the work we have pertomied, we conclude that there Is a material misslalement of this other information, we are required to report that fact. We have nothing to port in this reg8rd. 14-
VOLUNTARY ACTION SHETLAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF VOLUNTARY ACTION SHETLAND Matters on whlch we arn rgqulred to report by exceptlon We have nothing to report in respect of the following matters where the Companies Ad 2006 and Charits'es Accounts IScolland} Regulations 200618s amended) require us to report to you rf, in our opinion.. adequate and proper aceounling records have not be&n kopt, or returns adgquate for ¢Jur audit have not been receiv8d from branches not visited by us,. or the accounts are not in agreement with the accounting records and relums.. or certain disdosures of trustees, remuneration specified by law are not made., or the directors were not enkn.tled to prepare the finanual statements in accordance with the small companles regime and lake advanlage of the small companies exemptions in preparing the directors, report, induded wrthin the annual report, and from the requirements lo prepare a strategic roport. Responsibllltles of dlroctors As explained more fully in the ststemenl of directors, responsibilities. the trustees (who are also the directors of the chafilable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being sats'sfied that they give a true and fair view, and for such intemal control as the directors determine is necessary to enable the preparation of financial statements that are tree from material misststemen( whether due to fraud or error. In preparing the finanaal st*ements, tho directors are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related lo going coneem and using the going concern basis of aeeounting unless the directors eithef intend lo liquidate the tharitsble company or to cease operations, or have no realistie altemalive bul lo do so. Audltorfs responslbllltles for the audlt of the flnanclal statomènts We have been appointed as auditor under section 4411 Ilcl of the Charities and Trustee Investment Iscotlandl A¢t 2005 and report in accordanc8 Wth the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo oblain reasonable assuran about whether the financial ststements as a whoie are free from material misststement, whether due to fraud or error, and to Issue an audltorfs report that includes our opinion. Reasonable assurance is a high level of assurance bui is not a guarantee that an audit conducted in accordan with ISA8 IUKI will always delect a material fflisslatemenl when it exists. Misstatements Can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the gconomic decisions of users taken on the basis of Ih¢se financial statements. The extent lo whlch our procedures are capable of detecting irregularities, induding fraud, is detsiled below. 15-
VOLUNTARY ACTION SHETLAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF VOLUNTARY ACTION SHETLAND Irregularities 8re instances of non-complianee with laws arKI regul3lions. The objectives c)f our ajdit are lo obtsin SLfficienl appropriate audit evidence regarding compliance wth laws and regulations that have a dlrecl effect on the deleminats'on of material amounts and disdosures in the financial ststemenl$, lo pgrform audit prodUreS lo help idenltfy instances of non-¢omplian¢e with other laws and regulations that may have a material effect on the finanual slalemenls, and lo respond appropriately to identified OT SLispected norvcomplianee laws and regulallons identffied during the audit. In relation to fraud, the objectwes of our audit are lo idontify and assess the risk of material misststement of the finanaal slalements due to fraud, lo obtsin sufficient appropriate audrt evidence regarding the a$Ssed risks of material misstatement due lo fraud through designing and implementing appropri8te responses and to respond approprialety to fraud or suspected fraud identified during the au(kt. However, it 1$ the primary responsibility of management. wilh the oversight L)f those charged with governance, lo ensure Ihal thè entity's operations are cOndued in accordance vrilh the provisions of laws and regationS and for the prevention and detection of fraud. In identifying and assessing risks of materi81 misslalemenl in re$pg¢t of irregularities, including fraud, the audit engagement team.. obtained an understanding of the nature of the sector. indudlro the legal and regulatory fram¢work$ that the ¢harit8ble company operates in and how th8 tharitable company Is complying with the legal and regulatory frameworks., • inquired of management. and those charged with govemance, about their own identification and assessment of the risks of irgularitieS, induding ary kn¢)wn actual. suspected or alleged instances of Iraud., discussed matters about non-compliance wlh laws and regulations and how fraud might occur induding assessment of how and wherg the financial statements may be susceptible to fraud. As a result of these procedu$ we consider the most significant laws and regulations that have a direct impact on the financial stslements are FRS 102, Charities SORP {FRS 102), the Charities and Truste¢ Investment {ScoUandl Act 2005 and regulation 8 of the Charities AoUnts IScoUandl Regulations 2006 {as amended). Wè performed audit procedura5 to detect non-compliances which may have a material impact on the financial statements swhlch included reviewng the finanaal statemants including the Directors. Report, remaining alert lo new or unusual transactions which may not be in accordance with charty law, inspecting board minules and confirming there had been no correspond8nce wrth OSCR or extemal legal advisers in the period. The most signrficant laws and glatn8 that have an indirect impact on the finanaaS statemerrts are those in relation to the Data Protection Act 1998. We performed audit procedures lo inquire of management whdher the charitsble company is in complian¢8 with these laws and regulab'ons, inspected board minul&s and the risk registgr for control$ in place. Furthermore we inspected correspondence wth regulatory authorities and reviewed the register on thg Informali¢)n Commissioner's Office website. The audit engagernenl team idenlrfied the risk of management ovorride of controls as the area where the finonaol statements were most susceptible lo material misstalemenl due to fraud. Audit procedures performed included bLrt were not limited to testing manual journal gntries and other adjustments, evaluating the business rationale in relation lo signrficant, unusual Iransaclions and transactions entered into outSKJe the nornial course of business, and challenging IlgMentS and estimates. A further description of our responsibilities for the audit of Ihe accounts is located on the Finana81 Reporting Council's website al. http'./lwww.frc.org.uklaudilorsresponsibilities. This description forms part of our auditors report. 16-
VOLUNTARY ACTION SHETLAND INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE DIRECTORS OF VOLUNTARY ACTION SHETLAND Use of our report This report is made exdusively lo the membeys, as a body, in adance with Chapter 3 of Part 16 of the Companies Ad 2(, and to the charity's dirèctors, as a body, in acLordance with 8edion 441111¢) of the Charities and Truslg9 Investment Iscotlandl Acl 2005 and wulation 10 of ihe Charities Acwunts ISc¢)Ilandl Regulations 2L las amendedl. Our audit WOTI( has been undken so that we might 8tate lo the members and the charity's directors those rnatters we are required to stale to them in an auditorfs report and for no other purpose. To the fullest extent perrnitted by law, we do not accept or assume re$ponsibility to anyone other than the charity, its members as a body, and its directors as a body, for OUT audit work, ts thi$ report. or for the opinions we havg fomied. Ir•ne Hambleton (Sonior ststOry Audltorl For and on beha ofA.J.B. Stholes Ltd, Statutory Auditor Chartered Accountants St Olafs Hall Church Road Lerwick Shellanil Is ZE1 OFD Date.. A.J.B. Scholes Ltd is èligible for appointment as auditor of the charity ty virtue of its eligibilty for appointment a$ aLKlitor of a company under section 1212 of the Cornpanig$ Aci 20C6. 17-
VOLUNTARY ACTION SHETLAND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2026 Unrgstrlcted Restrletod Restricted income Incomo capltal fund8 funds fund$ 2026 2026 2026 Unr•stricted Rostrlctsd RtrIcted income Income capltal funds fund¥ fund$ 2025 202S 2025 Total Total 2026 20215 Income from: Donations and lega¢ Charitable ¥ctNities Investments 3,708 814,384 3,708 887,178 10,718 2,145 755,402 2.145 842,083 72,792 10,718 86,681 Total Income 83.510 818,092 9)1,602 86,681 757.547 844.228 Expenditurè on: Charitable activiti& 94.693 846,019 6,15S 946,867 110,880 846,960 72,¢J)0 1,029.840 Totsl •xpgnditurn 94.fj93 846,019 6,155 946,867 110,880 846.960 72.CrtlO 1,029,840 N•t •xpendlture 111,183) (27,92n 16,1551 {452651 124,1991 189.4131 172.IJ)01 1185,612) Transfers beeen furKJ$ 86,421 186,9191 27.155 66,299 {93,454} Net movemont In lunds 10 75,238 127,4291 193,0741 145,2651 123.1141 1165.454} 1165,812) Reconciliation of fundg.. Fund balancas at 1 April 2025 195,7 327.9)7 510,281 1,033.984 192,840 351.021 875,735 1.219,598 Fund balanc at 31 Mah 2026 271.034 300,478 417,207 988,719 195,796 327,907 510,281 1.033,984 The stalemenl of financial actNlties Includes all gains and 108Ses recognisad in the year. A¢1 income arKJ expenditur¢ derive from o)nlinuin9 adNitie8. 18-
Company Registratlon No. SC16$677 VOLUNTARY ACTION SHETLAND BALANCE SHEET AS AT31 MARCH 2026 2026 2026 Notss Flxed assèts Tangible assets 12 375,437 463,814 Current assets Debtors Investments.. fixed tem deposits Cash at bank and In hant1 13 52.724 89,363 511,016 55,855 167,342 379,522 653,103 602,719 Credltors: amounts falllng due wlthln one year 14 (38,7521 130,9821 Nel currfjnt assèts 614,351 571,737 Totsl assets less curTenl Ilabllltlss 989,788 1,035,551 Provlslons for Ilabllttlg¥ 20 11,0691 11.567} Net a$sots 988,719 1.033,984 Capltal funds Reslrid¢d capitsl funds Income funds Restricted income fvnds Unrestricted income funds 15 417,207 510,281 18 17 300,478 271.034 327,907 195,796 988.719 1,033,984 The directors acknowledge their responsibilib"e$ for complying with the requirements of the Compaties Act 2006 th respoct lo aceounts.ng records and th8 preparation of fin8naal slalements. These xcounts have been prepared in accordance with the provisions applicable to companies subject tr) the small companies, regime. See note 12 for further detai15 on the assets and lat0 burden on titles infom)ation. Tho accounts were approved by the Directors cn 28 July 202 5 (Chairperson) Dlrector L Tu11h (Vice C Dlrectot irperson} 19-
VOLUNTARY ACTION SHETLAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2026 2026 2025 Notes Cash flows from operatlng actlvlties Cash generated fromllabsorbed by} operations 22 48,064 {19,2501 Invegtlng 8Ctlvltle8 Purchase ol tangible red assets Interest received 15.2671 10,718 2,764 Net cash generated from Invesng actfvltle8 5,451 2,764 Not cash usèd In flnanclng actlvltlfrs Net Increaselldecreasel In cash and flxed temi deposits 53,515 {16,486) Cash and ffixed temi deposits al beginniNJ of year 546,864 563,350 Cash and flxgd term deposlts at end of year 600,379 546.864 Relatlng to: Bank balances Fixed temi deposits 511,016 89,363 379,522 167,342 -20-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Accountlng poll¢ios Charlty InfomiatSon Voluntary Action Sheand is a private company limited by guarantee incorporated in Scotland. The registered offiee is Market House, 14 Market Street. Lerwck, Shetland, ZE1 OJP. It is also a charity regi$lered Nmth Office of Scottish Charity Regulator {OSCRI. Accountlng cortventlon The accounts have been prepared in accordance with the charity's Memorandum and Arbdes of Assccialion, the Charitses and Trusteè Investment (Scollandl Act 2005, the Charities Accounts IS¢ollandl Regulations 2006 las amended) and 'Accounting and Reporting by Charities.. Stslemenl of Rernmended Practice apICable to charities preparing their accounts in accordance Ihe Financial Reporting Standard applicab in the UK and Republic of Ireland IFRS 1021" las amended for aeeounling periods commencing from 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The finandal ststements are Fxepare(l in sterling, which is the fvnctional eurrency of the charty. Monetary amounts in these financial statements ar8 rounded lo the nearest £. The financial statements have been prepared under the historical cost cAJnvenllon. The prsnapal accounting policies adopted are set out below. Golng concern The charitable Company is dependent on the continued support of various funding agencies to fund its future activities. The charity has received funds in advance of continuing activities. The board have rewewed budgets for the fL)reseeable future and with the funds already available for acb'vities together wth the incorne receivable In 2026 and into the medium temi. they are satssfied there are sufficient resource to see the charity through for at least 12 months from the date of signing the accounts. The Charity is fortunate that its funders continue to support the organisalion. Successful applications have been made to SheUand Charitable Trust which has committed to fund VAS lor another year until March 2027 with indicative funding until March 2030 and the Scottish Govemmenl has committed to fund another year until March 2027. Any shortfall in funding can be met from current reserves in the short lo medium tem. As such, material uncertainties that may ¢asl significant doubl about the abilty of the charitsble company lo ttjntinue as a going concern have been identsfied by the directors. As a result they have adopted the going eoncem basis of accounting. Charltable fund8 Unr8slrided funds are available for use at the discretion of the directors in furtherance of the geneTal objectives of the charity. Designated fvThJ$ are unreslncled fvnds eamarked by the directors tor particular purposes. Restricted funds are funds which are lo be used in accordance wlh spec4fic restrictions imposed by the donors. The cost of raising and administering such fvnds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. The restricted capital fvnd relates to the building at Market House. The balance is being reduced as the assets depreciate by transferring an equivalent amount between caprtal funds and the unrestricted fvjnds. -21
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Accountlng pollcles {Contlnuodl Income Income is recognised the charity is legally entitled to il after any performan conditions have been met. the amounts can be measured rèliably. and it 1$ probable that InMe will be received. Cash donations are recognised on receipt. Other donation$ are rQgnISed oncg the tharity has been notified of the donation, unless performance condfti¢Jns require deferral of amount. Interest on funds held on deposit is included when receivable and the amount can measured rdi&)ly by the Charity,. this is nomially upon notification of the interest paldlpayae by the bank. Other income arising from services provided to the voluntary sector in Shetland is measured at the fair value of the consideration received or receivable and represents amounts reCeiVae for goods and services provided In the nomial course of the charity's a¢livities. Exp•nditur• All expenditur8 is included on an accruals ba$[$ and is nISed when the is a legal or constnKtive obligation to pay for expenditure. il is probable that settlement will bs rgquirgd and the amount of the obligation can be measured reliably. Tho oompany is not registered for VAT and accordingly expenditure Is Shown gross of irrecoverable VAT. Expenditur8 is dassrfi8d undar tha following activity hgading.. Charitable aciivibes expenditure comprises those ¢o$ls inGurred by the charty in the delivery of its activrties and seTrices for Ils beneficrdries. 11 includes both costs that can be all¢xaled directly lo suth actiwties and those costs of an indirect TratU necessary lo support them. Support Costs Support StS are those fvnctions that a8Si8t the work of the charity but do t directly undertake charrtable activitifjs. Suppcit costs include inf0miat1c technology, depreciatlon and governance costs whith support the Charty's activities. All costs are allocated be88n the expenditure categorles of the SOFA on a basls deslgned to reflect the use of the resource. Costs relating to a particulaf acts'vty are allocated 1Ctly, others are apportioned on an appropriate bass eg estimated usage or staff Ilme as set out in Note 9. Tanglble fixed assets Tangible fixed asset5 are initially measur¢d al ¢9$1 and subsequently measured al cost. net of depreciation and any impairment losses. No single equipment purchase with a eosl of below £500 is to be eapitslised. Depreciation of fixed assets is charged by equal annual instslments commencing with the year of ao]ui$ition at rates estimated to write off their cost or valuation less any residual value over the expected u*ful live$ are as follows= Land and buildings Office equipment 25 ygars 3- Ioyears The gain or loss arising on the disposal of an as$el is determin8d as the drftergnce b8tsvegn the salg proceeds and the carrying value of the asset. and is recognised in the statement of finaneial activities. Cash and ¢a8h oqulyants Cash and cash equivalents include cash in hand and deposits held wth banks wlh original maturities of three months or less.
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Accountlng pollcles (Continued) Flnanclal Instruments The charity has elected lo appty the provislons of Section 11 'Basic Financial Instruments, of FRS 102 to all of its financial inslnjments. Flnancial instruments are recognised in the charity's balance sheet when the charity becomes paty lo the conlraclual provisions of the instrument. 8aslc financial assets Basic financial assets, which include debtors, cash and bank balances and funds invested in fixed term deposit accounts, are In'allY measured al transaction price induding tran&%tion costs and are subsequently carried at amortised ctssl 118ing the effective interest method. Basic Ilnancial Ilabilities Basic financial liabilities, including trade and other creditors are initially r8¢09nised al transaction price. Financial liabilities classified as payable within one year are not amortlS8d. Debt instruments arg subsequently carried at amortised tost, using the effective interest rate rnetrd. Trade creditors are obligations to pay for goods or services that have been acqulred in the ordinary course ol 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 n0n-cuent liats'lilies. Trade creditors are reco9nised initially at transaction price and subsequently measufed at amorb.sed cost using the effective interest method. Employ•• benefits The wsl of any unused holiday entitlement is recognised in the period in whith the employee's serve8 are received. Retlromgnt bonèffts For defined contribLrtion schemes the amount charged to profil or bss is the conlribub'ons payable in the year. Differences befvleen contributions payable in the year and contributions actually paid are shown as ather accruals or prepayments. The liability and expense is allocated lo funds based on which projoct the respective employ aro involved in. Multi-omployer plans Contributions are recognised in profil or loss in the period to which they relate as there is insufficient information available lo use defingd benefit accounting. A liability is recognised for ntributIOnS arising from an agreement with the mulli-employer plan that determines how the charty will fund a defiut. Contributions are discounted when they are not expected to be Settled wholly within 12 months of the period end. The lialJ'lity and expense is allocated to funds based on which project the respective employees are involved in. Incomg from donatlons and 1ggac10S Restrlctod funds 2026 Restrlctod fundy 2025 Donation8 8nd glfts 3,708 2,145 .23-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Income from Investmonts Unra5trl¢t•d Unrgstrfcted fvnds funds 2026 2025 Other income 10,718 Al of the charills investment income arises from money held in Interest bearing deposit 8ccounts. -24-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Income from charltab19 actfvft19S Voluntary Shetland Actlon Befriending Shetland Schemes Marketvolunteerlng House Carers Other supplement ary projects and activities 2026 Totsl 2026 2026 2026 2026 2026 2026 Perfornian related grants Olhgr income Less.. deferred income 380,144 29,364 143,966 110,000 112,108 3,557 3.794 783 87.411 16,789 728.872 159,024 17201 1720} 409,$08 143,966 222,108 2,837 4,577 104,180 887.176 Analysls by fund Unrestricted fvnds Restricted fiJnd$ 29,364 380,144 43,428 178,680 72,792 814.384 143,966 2,837 4.577 104,180 409,508 143.966 222,108 2,837 4,577 104,180 887,176 -25-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Incom¢ from Charltsble actlvllle$ (Contlnued) Pgrformance related grants •naty$is Voluntary Shand M4rkeiHou80 VoluntsevfjNJ AOn BefrlendlrwJ Shetland 8ch8me8 Othèr $upplementary proi*c15 and a¢Vit 2026 Totsl 2026 2028 2026 2026 2026 2026 Scoth'sh Gov8mment Shetland Islands Council She118nd Charitsble Trust VAS FD Shared Care Scotland Other 195,520 3.557 199,077 117,4061 298,212 87,411 32,988 128.590 17,000 78,000 134,406) 5,212 105,000 110.000 87,411 32,988 79.624 48,966 380,144 143,966 110.000 3,557 3.794 87,411 728.872 2025 2025 2025 2025 2025 2025 2025 Scottish Govemmènl Shetland Islands Council Shetland Charitsble Trust VAS FD Shared Care Scdand other 97,240 78,030 175,270 39,800 31)0,100 71,944 39,536 56,786 17,000 69,800 22,800 37,000 93,100 100.200 71.944 39.536 32.769 24,017 190.340 119.569 100.200 102,047 99,338 71,944 683,438 -26-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Income from charitable activities Icontinugdl In line with Charibes SORP IFRS 1021 the grants above are induded wf(hin charitsble income on the basis that they are perfomancè-rèlated grants where the income is conditional on delivering certain leveL8 or volumes of a serviee as in a service level agreement. -27-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Income fn>m eh•ritsble activilies {Contlnuedl Prevlous year: Voluntary Shetland Actlon Befrfènding Shetland Schemes MarketVolunto8rlng House Carors Other $upplement ary projects and adlvltles 2025 Total 2025 2026 2026 2026 2025 2025 Perfomiance related grants Other income Less." deferred Income 190,340 57,102 119,569 5,962 100,200 99,321 102,047 99.336 1,950 16,779) 71.944 2,008 683,436 166,343 {7,6961 191n 247,442 125,531 199.521 101,130 94,507 73,952 842,083 Anatysls by fund Unrestricted funds Restricted furKIs 57,102 190,340 29,579 169,g42 86,681 755,402 125,531 101,130 94,507 73,952 247.442 125,531 199,521 101.130 94,507 73,9S2 842,083 -28-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Expendlture on charltsble actlvltles Voluntary Shotland Actlon Bèfrléndlng Shetland Schemes Mark•tVolunteering House Carerg Other Supplèment ary prolects and activities 2026 Total 2026 2026 2026 2026 2026 2026 Dlrect costs Staff costs Activites undertaken directly 318,232 26,461 120,291 25,593 51,161 53,734 5,808 41,319 16,065 982 511,5S7 148,089 344.693 145.864 104,895 47,127 17,047 659,646 Grant fijndlng of advlties Isee note 61 Support Govemance 91.706 91,706 177,863 17,652 7.850 17.652 170,213 369.995 145.884 275,108 47,127 108,753 946,867 Anatysls by fund Unrestricted funds Restricted funds Endowment funds 4,257 365.738 90,436 178,517 6,155 94,693 846.019 6.155 145,884 47,127 108,753 369,995 145,884 275,108 47.127 108,753 946,867 -29-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Expondlture on charltablg actlvhles (Contlnuedl Prevlous year.. Volunlary Shotland A¢tlon Befriending Shatland Schemes MarketVoluntoorSng House Carer5 Other Supplement ary projocts and activllles 2025 Total 2026 2026 2025 2025 2026 2025 Dlrect costs Staff costs Activiles undertaken direcuy 208,106 26,994 105,000 21,405 50,807 116,364 106,207 5,715 30,577 47,442 7,667 6,509 508,364 224,429 235,100 126,405 167,171 111,922 78,019 14,176 732,793 Gfanl funding of th'ties (see note 61 Support Governance 102,547 102.547 176,880 17.620 5,882 17.620 170,998 258,602 126,405 338,169 111,922 78,019 116,723 1,029,840 Analysls by fund unrestn.cted funds Reslricled lunds Endowment fijnds 20,042 238,560 90,838 175,331 72.000 110,880 846,960 72,000 126,405 111,922 78,019 116.723 258.602 126.405 338,169 111,922 78,019 116,723 1,029,840
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2026 Grants pald 2026 2025 Cornmunity mentsl health & welllbeing grants Shedand pre S91 play grants Vaila ftjnd grants 87,411 74,072 28,325 150 4,295 91,706 102,547 For infomialion on the other giants please $89 furth¢r details on the Trustees Report on pages 4 & 5 or tho company's website.. Com Mental Health n Shelland Ilbein Fund forAd I ee Dlroctors None of the directors lor any persons connected wrth them) re¢elved any remuneration or benefits from the charity during the year. Employfjes The average monthly number of employees durin9 the year was.. 2026 Number 2025 Number anagement Administration Project worke Manual 10 Total 18 16 Employment costs 2026 2025 Wages and salaries Social security costs other pen&on costs 428,749 42,779 40,029 425,092 42.514 40.758 511.557 508.364 31
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Employeèg Icontlnu•dl The number of 8mpJoyees vthose annual remuneration was more than £60.000 is as follows-. 2026 Number 2025 Number £80,000- £90,000 Remuneratlon of key management personnèl The remuneration of key management personnel was as follows.. 2026 2025 Aggregate compensatlon 157,984 150,347 The key management personnel of the charity comprise the dlreclor8. the executive officer and the VAS Deputy and Facilities Manager. There are no olhw related party transaclions. Support costs Support Governance costs costs 2026 2025 Basls of allocatlon Depreciation IT costs 93,644 84,219 93,644 84.219 92,407 Cost 84,473 Cost Athjil fees Accountancy 14.040 3.612 14,040 3,612 14,220 Cost 3,400 Cost 177,863 17,652 195,515 194.500 10 Net nv)v•ment In funds 2028 2025 Nel movement In funds is ststed after charglng Auditors remuneration Audr( fees Accountancy services Deprlatn of owned tsngible fixed assets 14,040 3,612 93,644 14,220 3.400 92,407 11 Taxatlon HMRC recognises the company as a Scottish charity and it 1$ not liable to Corporation Tax on its charltable activities. -32-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 12 Tanglblo flxod assets Land and bulldlng5 Total gqulwrnI Cost At 1 April 2025 Additions Disposal$ 2.270.547 67.665 2.33B.212 5,267 5,267 118,0641 118,0641 At 31 March 2026 2.270,547 54,868 2,325,415 D8preclatlon and impaimient At 1 April 2025 Depreaalion charged in the ye8r Eliminated in respect of disposals 1,812,910 90,822 61,488 1,874,398 2,822 93,644 118,064} 118,064} At 31 March 2026 1,903,732 46.246 1,949,978 Carylng amount At 31 March 2026 366.815 8,622 375,437 At 31 Mareh 2025 457.637 6,177 463,814 The purchase of the propety wa8 grant funded and th8re is a burden on the tle of the propety which means it cannot be us8d for investsnenl purposes or lo obtain wurily. The value will be recovered through the charitsble activitie5 carried out in Market House. 13 Dobtors 2026 2025 Amounts falllng due wlthln one yfrar. Other debt¢ys Prepayments and accrued income 2,598 50.126 2,7S4 53,101 52,724 55,855 14 Credltors.. arnounts falllng due wlthln one y*ar 2026 2026 Notes Trade creditors Deferred grants Other creditors and acGruals 17,490 720 20,542 5,138 7,696 18,148 16 38,752 30,982 -33-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 15 Re$trlct•d capltal funds The restricted capital fund relates to the building 81 Market House. The balance is being reduced as the assets depreciate by transferring an equivalent amount betsveen capital fijnds and unrestrTCted funds. The capital maintenance grant relates to a grant from Shetland Charitable Trust to lund both capltsl and maintenance al Market House. The resources expended in the year are in relation lo maintenance costs incurred. At 1 Aprll 2025 Rgsourco5 expended Transfets At 31 March 2026 Restricted capitsl fijnd Capital Maintenance Grants- SCT 459,422 50,859 {86.919) 372,503 44.704 16,1551 510.281 16,155} 186.9191 417,207 Prevlous year. Al 1 Aprll Resource8 2024 exponded Transfvvs At 31 Makn 2026 Restricted c8pilal fund Capital Maintenano Grants- SCT 552,876 122,859 193,4541 459.422 50.859 172.0001 875,735 172,0001 193.4541 510.281 16 D•f•rr•d In¢omo Induded within cr8ditors is £72012025 - £7,6%1 from YPI Scotland 12025 - Shared Care Scotland and YPI Scc)tiand l in relatron to future years. fvnding. These grants have been deferred because they are subject to performance related eondilions and do not run concurrent to the a¢¢ounting year. As the charity is liable to deliver a servic8 in the next year then the eorresponding income is deferred until the performance tx)nditions have been mel. The full amount of deferred income of £7,696 from 2025 was released to Income in th8 year.
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARGH 2026 17 Unrostrl¢ted funds The unrestricted funds of the charlty comprise genefal unrestricted funds and designated funds which have been sel asde by the directors for specific purposes. These are made up as follows.. At 1 April 2025 Incoming Rgsources resources expended Transfers At 31 March 2026 Unrestricted reserve Capital Assets Intemally Funded staff Development Staff Heamh and Wellbeing Supporting Operatsonal Aetivtiy Room Refijrbishment Market House Contsngency 90,556 83,510 190,2291 41.834 125,671 2.760 12,302 18,628 51,776 3.927 15,847 3.282 6.042 11.650 16,946 51.778 1,797 57.152 18521 11.6821 {2,1301 41,305 195,796 83,510 {94,6931 88.421 271.034 Previous year: At 1 Aprll 2024 Incomlng Resources rnsources expended Transfers At 31 Mirch 2025 Unrestricted reserve Capitsl Assets Internally Funded Staff development Staff Heatth and Wellbeing Supporting Operational Adivity Proje Funding Room Refurbishment Market Hou$e Conllnger 64.708 86,611 1107.3401 48.577 90,556 3,732 14,400 20,000 70,000 20,000 1972) 2,760 12,302 18,628 51.776 (2,0981 1,4421 70 118,224) {20,000) 3,927 15,847 3,927 15,847 192,840 86,681 1110,8801 27,155 195,796 -35-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 17 Unrestrlcted funds {Contlnue411 The director8 reviewed the unrestricted fund$ and agreed a transfer of self generated inGome to the Market Hou$e Contingency Fund. The designated funds comprrse of.. Capltal Assets Intemally Fundèd- Represents the amount the Charlty has funded from reserves, net of any apital grants received Staff Dovelopmont - Funds have been used for staff training, vthich is not supported elsewhere, in recognition that on-going training and development is important for staff. The balance is based on training ngeds for the next 3 years. Staff Health and Wellbelng Funds have been used to support the buy in of an Employee Assstance Programme, covering the costs of Occupational Health appointments for staff and team group activitoes. Supportlng Operallon•l Actlvlty- Funds have deslgnaled to support fijture tbnding $hortfall$ Room Refurbl$hments- Funds havg been designated lo stjpport Market House rM refurbishments M8rk•t House Contlngeney - Funds have been used lo purchase a new pdnlerlphotocopier amountirg to £4,740 Iwhieh has been capitslised and the fvnding transferred out accordingly) and a further deSiglOn ol £46,045 made in the year from the unrestricted reserve. This leav8s a ¢lo*ng balance of £57,152 lch will support any lulur8 funding shortfalls in the Market House budget. The remaining balance of £125,671 remain8 8S the unreslrictgd reseN¢ and this continues to fall short of the target set. -36-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 18 Rgstrfctsd funds The restricted funds of the charity comprise the unexpended balances of donats'ons and grants held on trust subtecl to specific conditions by donors as lo how they may be used. At 1 April 2025 Incomlng Resources rèsources exnded Transfers At 31 March 2026 VoluntaryA¢tion Shetland Shetland Charitable Trust Lottery Grant Sheuand Community Benefft Fund Scottish Governmént Pension Deficit 107.837 46.914 196.5891 140,9191 11,248 5,995 32,710 195,520 132,7101 (195.5201 {1,5671 498 (1,0691 VAS Fund Dislribulion Training Budget Projects SheUand Voluntary Action Devel¢)pment 4,815 2,057 123.616 87.411 191,7061 {541 116,8171 520 2,003 123,568 16,769 53,357 (1761 53,181 Market House SCT Market Hous8- Running Costs 178,680 {178,5171 163 Projects ShetlandBefrlending Schemes SCT Children and Young People 16+ Befriending and Peer Support General Sheyand Befriending Scheme 7,920 12,349 60,000 35,000 48,966 159,6231 136,84SI 148,9661 8,297 10,504 43,747 3,708 14501 47,005 Shetland Carers Shetland Charitable Trust Fund Dislribulion GenerallDonalion$ Creative Breaks sic 29,038 5,212 39,768 783 16,7801 134,4061 17,2541 139,7681 11051 26, 6.603 6,780 39,192 7,281 4,786 327,907 818.092 1846.0191 498 300,478 -37-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 18 Restrlcted funds IContInu) Prevlous year: At 1 Aprll Incomlng Resource8 2024 resources expended Transfors Al 31 March 2026 VoluntaryActlon Shetland Shetland Charitable Trust Scottish Govemment Penston Defieil IS,5231 15,9831 11,463} 93.100 97.240 1109,759 {128,8011 22,182 37.544 {1041 11,56n VAS Volunteering Fun(J Distribution Training 8udget Projects Sheuand VoluntaryAction Dovetopment Parent Llnk 9.504 35,418 2,813 127,221 101,130 71,944 {111,9221 1102,5471 17561 15,6131 1,288 4,815 2,057 123.616 2.008 53.528 7,636 {1711 17,6361 53.357 Al*•t Hous• SCT Market House- Running Costs 169,942 1175,3311 5,389 Projects ShetlandBefrlendlng Scheme SCT Children 8nd Young People 16+ BefllerKling and Peer Support General Sheuand Befriending Scheme 3.140 15.296 1,353 60,939 30,600 33,992 {56,1591 (33,5471 135,3451 7,920 12,349 42,955 2,145 (1,3531 43,747 Shotlènd Carnrs Shetland Charitable Trust Better Breaks Fund Distribution GenerallDonations Creative Breaks sic 22,421 5,374 37,000 1,700 21,346 250 11,411 22,800 {30.3831 17,409) {21.3461 11,9391 19,265} {7.8781 29,038 335 8.627 4.634 24.070 (335 6,603 6,780 39.192 351,021 757,547 1846,9601 66,299 327,907 -38-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 18 Rgstrictsd funds (Continued) De¥criplion, nature and purpose$ of each fund.. Voluntary Adion Shetland (VASI is the umbrella organisatson prowding a wide range of services lo voluntary organisations and third sector in Shetland. Each department supports activity as described below.. Voluntary Action Shetland Supports dev81opmenl of the Third Sector and delivers work und8r the four core activities.. To be the central source of kno%edge, To be the voiee, To build eapacty and To eonnect. VAS- Penslon Deficlt- See note 20 foT fvrther detail$ Fund Dlstrlbulion - This department has been used for any fund distribution activity. The last 12 months funds have be dislribuled via Communrties Mental Health and Kèllbeing Funding for Adults arKI The Vaila Fund Tralnlng 8udget- This fund has been used to support Third Sector Training activity. PfoJects- Funds have been used lo support the climate café and VAS Communtty Website Shetland Voluntsry Adlon Dgvalopm8nt- Funds have been used to cover costs of staff membership with Ihe Assoeialion of Charity Independent Examiners to provide the Independent Examination of Accounts service lo charities and organisations. Market House - Funds used to support the day to day costs that have oc¢urred in keeping Market House in working order, supporting charitsble tenant organisations with low cost facilities and support. Shetland Befriending Scheme - This project provides one to one support to individuals in the community. Demand eonlinues to high for the servits and staff have been working on recruiting more volunteers to meet local need. Shetland Carers - This project woths closely wrth Shetland Islands Council and NHS Shet18nd to ensure that carers are supported so they can contsnue to care, and are able to do so in good health and have 8 lffe alongside their caring responsibilities. Short Break grants and respilality options are available to offer unpaid ¢ares a short break. 19 Analysls of net assets between funds Unrestrlctod Income fund$ 2026 Restslctod Income funds 202$ Raslrlcted capital funds 2026 Totsl 2028 At 31 March 2026.. Tangible assets Current assetsllliabilrties} Provisions 1,301 269,733 374,136 43,071 375,437 614,351 {1,C691 301,547 {1,0691 271.034 300,478 417,207 988.719 .39-
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 19 Analys18 of net assets bgtwoen funds {Contlnued) Unrastrlet•d Income funds 2025 Restrtct Income funds 2025 Restrlctsd capltsl funds 2025 Total 2025 At 31 March 2025: Tangible assets Current assetsllliabiliti8s) Provisions 2,759 193.037 461.055 49,228 483,814 571,737 {1,5671 329,474 11,567} 195,796 327,907 510,281 1,033,984 20 Retlrement ben•fll schemes Doflned contrlbutlon schemes The chanty operates a defined conlribulion pension scheme for all qualitying employees. The assets of the scheme are held separately from those of the charity in an Independently administered fund. The charge to income and expenditure in respect of d8fined eontribution schemes was £22,425 12025 - £23,266). Contributions lotaling £nil12025- £nil} were payable to the fund at the year end and are induded in ueditors. Defined boneflt schomos SCHEME: TPT R8tlremènt Solutlons - The Growth Plan The company partiapates in the scheme, a multi-employer scheme which promdes benefits to some 521 non- associated participatsng employers. The scheme is a defined benefft scheme in the UK. 11 is not possible for the company to obtsin SLrffiaenl infomiation to enable il to account for the scheme as a defined benefft stheme. Therefore il accounts for the scheme as a defined contribution schem8. scheme is subject lo the funding legislation outlined in the Pensions Act 2004 whfeh came into force on 30 DeCeMr 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council. set ¢yJt the framework for funding defingd benefit occupatlonal pension schemes in th8 UK. The scheme is Classified as a 'last-man standing arrangement.. Therefore the company 1$ polen11811y liable for other participating employers, obligations if those employers are unable to meet th8ir share of the scheme deficit following wthdraw81 from the schome. Parb'cipaling employers are legally requirgd to meet the¢r share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 20 Retlrement benefit scheme$ Icontlnuod) Valuat A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets of £514.9m, liabilities of £531.Om and a deficit of £16.1 m. To eliminate this fvnding shortfrdll, the Trustee has asked the participating employers lo pay additional contributions lo the scheme as follows.. Deficlt contdbutlons whole scheme - all em lo From1A ri12025 to 31 Mar¢h 2028.. grs £2,100.000 r annum (payable monthl I Unless a concession has been agreed with the Trustee the lemi to 31 March 2028 applies. Note that the scheme's previou$ valuation was carried out wth an effective date of 30 September 2020. This valuation showed assets of £800.3m, liabililies of £831.9m and a deficit of £31.8m. To eliminate this funding shortfall, the Tnjstee asked the participating omFloyers to pay addits'onal contributions to the scheme as follows.. Deflclt contrlbutlons whole scheme- all em From 1 A ri12022 10 31 Janua 2025., lo Ors £3,312.000 r annum Ipa able monlhlyl Th8 recovery plan contribuitons are allocatèd to each participating employer in line with Iheir estimated sharè of the Series l and Series 2 scheme liabilities. Funding poIY Where the scheme is in deficit and wher8 the con7pany has agreed lo o defiul funding 8rrangement the company recognises a lbIlity for this obligation. The amount recognised is the nel present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The Psent value is calculated using the dIunt fate detailgd in these di8cIosLfre8. The unwinding of the discount rate is recognised as a finan cost. Other infom?alion PRESENTVALUES OF PROVISION 31 March 2026 l£sl 31 March 2025 Its) 31 March 2024 {£sl 1,483 Present value of provision 1,069 1.567 RECONCILIATION OF OPENING AND CLOSING PROVISIONS Period Ending Period Ending 31 March 2026 31 March 2025 l£sl {£sl 1.567 1,4e3 62 39 (5591 (1.4911 10 1.546 1.567 Provision al start of period Unwnding of the discount fador linteresl expense) DeficAI contribution paid Remeasurements- impact of any change in assum tions Remeasurements- amendments to the contribthion schedule Provision at end of period 1,069 -41
VOLUNTARY ACTION SHETLAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 20 Retlremont beneflt schemes {Continued} Key assUMptnS 2026 2026 DI)unt rate 4.92 The discount rates shown above are the equivalent Sing discount rates [Ch, %then used to discount tho future reVery plan conlributK)ns due. would give the same results as using a 11 AA Corporate yield curve to diseounl the same recovery plan contribution5. INCOMEAND EXPENDITURE IMPACT Period Ending Period Ending 31 March 2026 31 March 2025 £$1 39 Inlerest ex Remeasurements- impact of an chan e in assum lions Remeasuremenls- amendments to the conlnbulion schedule nse 62 1) 10 1,546 21 Events after tho reporting date In Aprfl 2026 The Shetland Befriending Scheme transitioned lo become an independent charity, separating from VoluntsryAction Sh8lland. Also in April 2026 the carers 8dvI, support, and information service transferred from the VAS Shetland Carers projact to Shetland CareAltgndant Scheme ISCASI. 22 Cash generntod fromllab$orbed by) operations 2026 2026 Deficit for the year {45,2651 (185,612) Adjustments for: Investment income recogrii5ed in stslemonl of financial aclivrties {GaSn}O$s on disposal of tangiblg fix8d assets Dopreaation and imp8imient of tangible fixed assets {10,7181 2.019 92,407 93,644 Movomonts In worklng Capltal: DreaSe in debtors InGreaselldecreasel in creditors Increas&lldecreasel in provisSons {Decrea$&)linerease In deferred income 3.131 14,746 {4981 {6.9761 76,936 17,2511 104 2.147 Cash gfrngratsd fromllabgorbed by) oporations 48.064 119,2501 -42-