## **SKELD WATERFRONT TRUST**
Annual Report and Financial Statements For the year ended 5 April 2025
Scottish Charity Number: SC029680
SKELD WATERFRONT TRUST SC029680 ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
The Trustees have pleasure in presenting their report for the year ended 5 April 2025.
## **Scottish Charity Number: SC029680**
## **Current Trustees and Trustees throughout the year:**
dec’d 31 July 2025
## **Registered Address:**
TFT Electronics Skeld Industrial Estate Shetland ZE2 9NL
## **Recruitment and Appointment of Trustees**
The Trustees shall have the power to co-opt and assume, or appoint by whatever means they deem appropriate, new or additional individual, ex officio, or nominee trustees shall not be appointed unless by a Resolution of the Trustees recorded in the Minutes and signed by each new or additional Trustee, such record being conclusive evidence of his, her or their appointment.
## **Governing Document**
The Trust is operated under the rules of its Trust Deed executed on 5 December 1999.
## **Charitable Purposes**
The purposes for which the Trust is established are as follows:
- a. To acquire for the purpose of protection, restoration and preservation by the Trust and thereafter retention, sale or lease, subject to such legally valid restrictions as will ensure the preservation thereof, the land, foreshore and where appropriate the seabed of the area known generally as Skeld Waterfront, Skeld, Shetland, together with the buildings erected thereon, the breakwater and other erections thereon, thereby safeguarding and protecting an important example of Shetland’s coastal and fishing heritage for the benefit of the public.
- b. To repair the existing pier at Skeld and to undertake sea defence measures for the benefit of the public.
- c. To provide museums, interpretative centres and other public facilities at Skeld, all for the public benefit and for the advancement of education in relation to the coastal communities and the coastal, fishing and wildlife heritage of Skeld in particular and Shetland generally.
- d. To conserve and protect for the public benefit the marine and coastal environment of Skeld in particular and Shetland generally and to advance education in relation thereto and in relation to the management thereof.
- e. Such other purpose or purposes charitable in law as the Trustees shall from time to time determine.
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SKELD WATERFRONT TRUST SC029680 ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
_______________________________________________________________________________
## **Activities and Achievements**
Marina berthing memberships and dues were similar to last year after taking into account both sales and refunds of berths.
The Trustees are pleased the Caravan & campsite site and amenity building are being well used. Regular campers return year after year along with many new ones and the site continues to gain a good reputation. This income was slightly down on last year but a control over spending (having undertaken major repairs in the last few years) meant a larger than normal surplus resulted for the year.
The funds held in the members bank account is for asset replacements and general repairs, maintenance and improvements to the Marina.
The funds held in the Waterfront bank account are for the other main charitable purposes of the trust and in particular the ongoing plans for the museum, cafe and heritage centre.
## **Trustee Remuneration and Expenses**
The Trustees did not receive any remuneration or expenses during the year.
## **Reserves**
On a strict receipts and payments basis of accounting a surplus of £32,688 resulted for the year, and the Charity held unrestricted funds of £75,970 at the year end. The Trustees consider that the unrestricted funds of £75,970 will enable them to continue to run the Charity in the future.
Approved by the Trustees and signed on their behalf:
Trustee: ........................................................ Date: 5 January 2026
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SKELD WATERFRONT TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
SC029680
_______________________________________________________________________________
## **RECEIPTS AND PAYMENTS ACCOUNT**
|2025
£
£
**RECEIPTS**
Membership (Marina & Berthing)
including Berth sales
19,312
Caravan and camping rental
37,778
Donations
-
Bank interest received
2,951
Other income
-
______
60,041
**PAYMENTS**
Payments for charitable activities:
Insurances
2,706
General repairs, maint. & cleaning
9,482
(inc. equipment written off as purchased)
Electricity & water rates
8,050
Advertising & promotion
696
Stationery, postage & printing
368
Telephone & Kiosk
1,356
Legal & professional fees
500
Accountancy
480
23,638
Membership & rental costs:
Berth repurchases
3,715
Crown estate rental
-
3,715
Total Payments
27,353
______
**SURPLUS FOR THE YEAR**
**£** **32,688**
______
Unrestricted
30,664
Restricted (interest on restricted bank)
2,024|2024
£
£
22,027
41,167
-
2,504
-
______
65,698
2,573
36,443
10,077
553
415
1,152
-
360
51,573
4,845
-
4,845
56,418
______
£ 9,280
______
9,068
212|
|---|---|
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SKELD WATERFRONT TRUST ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
SC029680
_______________________________________________________________________________
|**STATEMENT OF BALANCES**
£
**FIXED ASSETS**
Land
**BANK and CASH IN HAND**
Waterfront bank account
26,378
Membership bank account
45,751
Restricted funds bank account
148,073
________
Closing balances
**RESERVES**
General funds – all unrestricted
Brought forward
Transferred (to)/from restricted funds in year
Surplus for the year
Funds considered for - restricted use
Brought forward
Transferred (to)/from general funds in year
Surplus for the year
Carried forward|2025
2024
£
£
£
3,841
3,841
20,750
20,715
146,049
220,202
_______
187,514
_______
_______
224,043
191,355
_______
_______
45,306
166,238
-
(130,000)
30,664
9,068
75,970
45,306
146,049
15,837
-
130,000
2,024
212
148,073
146,049
_______
_______
224,043
191,355
_______
_______|
|---|---|
Approved by the Trustees and signed on their behalf:
Trustee : ........................................... Dated : 5 January 2026
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SKELD WATERFRONT TRUST SC029680 ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025
## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTESS OF SKELD WATERFRONT TRUST**
I report on the Accounts of the Charity for the year ended 5 April 2025 which are set out on pages 1 to 4.
## **Respective Responsibilities of Trustees and Examiner**
The Charity’s Trustees are responsible for the preparation of the Accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Charity Trustees consider that the audit requirement of Regulation 10(1) (d) 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 Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the Charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the Accounts, and seeks explanations from the Trustees concerning 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 matters have come to my attention:
1. Which gives me reasonable cause to believe that in any material respect the requirements:
- To keep Accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
- To prepare Accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not been met, or
2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.
, BSc FCA Thickbroom Coventry, Chartered Accountants 147A High Street Waltham Cross Hertfordshire EN8 7AP
Date: 5 January 2026
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