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2025-03-31-accounts

Charity registration number SC030659 (Scotland)

Company registration number SC245227 (Scotland)

NORTH YELL DEVELOPMENT COUNCIL

( A company limited by guarantee)

REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

NORTH YELL DEVELOPMENT COUNCIL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A Nisbet
D Instone
K Tulloch
M Lawson
R Coutts
J Cunningham
D Henry
K Keith
A Jamieson
H Spence
L Tulloch
D Redshaw
Secretary Andrew Nisbet
Charity number (Scotland) SC030659
Company number SC245227
Registered office Keldahoul
Cullivoe
Yell
Shetland
Scotland
ZE2 9DD
Auditor Whitelaw Wells
9 Ainslie Place
Edinburgh
EH3 6AT
Bankers Bank of Scotland
Commercial Street
Lerwick
Shetland
ZE1 0DL
Key Managment Personnel A Nisbet - Managing Director

NORTH YELL DEVELOPMENT COUNCIL

CONTENTS

Page
Trustees report 1 - 7
Statement of Trustees responsibilities 8
Independent auditor's report 9 - 11
Consolidated statement of financial activities 12
Charity statement of financial activities 13
Consolidated balance Sheet 14
Charity balance sheet 15
Consolidated statement of cash flows 16
Notes to the financial statements 17 - 37

NORTH YELL DEVELOPMENT COUNCIL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their report and financial statements for the year ended 31 March 2025.

North Yell Development Council (NYDC) is one of Shetland's oldest and most successful development groups with a history stretching back to the 1940s. NYDC was established to strengthen the community, enhance the local tradition of pulling together to get things done with a focus on making North Yell a better place to live, work and visit. From the outset the group identified the importance of Enterprise, Initiative and Self-Help, three concepts which still feature on the NYDC's letterhead today

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The objectives of the NYDC are continuously evolving to meet the needs of the community, but generally follow the themes set down many years ago.

The current objectives are based on our new Articles of Association which are as follows:

  1. To relieve poverty and unemployment among the residents of North Yell.

  2. To advance education among the residents of North Yell, particularly among the young and the unemployed.

  3. To promote and/or provide training in skills of all kinds, particularly in skills that will assist residents of North Yell in obtaining employment.

  4. To promote/establish and operate other schemes of a charitable nature for the benefit of the community of North Yell.

  5. To advance community development, which will include the promotion and development of trade and industry in the Community.

  6. To promote such similar charitable purposes, objects or institutions in such proportions and manner as the Trustees shall think fit.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Over the years the group has been responsible for many initiatives and developments, these include:-

NORTH YELL DEVELOPMENT COUNCIL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

The Directors have been very active over the past year managing and developing the following projects:

Garth Wind Farm

Garth Wind Farm which consists of 5 large turbines (total 4.5MW) situated between Cullivoe and Gutcher. The wind farm has now been operating for seven years. This year has been a good year for Garth Wind, and has seen a much better degree of service from Enercon after conversations at the All Energy Conference in 2024.

North Yell Marina and Industrial Estate

The North Yell Marina had a successful year with all its 18 permanent berths occupied. In the coming year we will have 1 vacant berth which will be relet. Over the year we welcomed 25 visiting boats, 6 more than last year. There were also many caravans and campers who used the amenity block facilities and left donations in the honesty box.

This year the fee for the visiting yachts increased to £25 per night. Winter berthing has also been offered to the berth holders and 2 people took this offer, this has allowed us to free up two additional berths during the summer season. A cleaner was also employed to clean the amenity block.

There have been major improvements to the marina slip lengthening and widening it. This has allowed for the private operation of a boat hoist. This represents a very exciting development for a local business and opens new development possibilities for the marina in the form of on land boat storage, maintenance, and repair.

In the coming year NYDC will:

North Yell Community Shop

In November 2024 NYDC purchased the Cullivoe Shop from RS Henderson, with the assistance of a Scottish Land Fund grant of £142,600. The business is now operated as the North Yell Community Shop (NYCS). The shop is run by a separate company with a board of directors including NYDC directors and community members. NYCS currently employs 4 part time members of staff, 1 full time manager and 4 young people.

Enclosed chills which will reduce the energy consumption of the shop and a new insulated floor which will reduce heat loss in the building have been purchased and installed with grant assistance from the Shetland Islands Council Rural Retail Services Scheme, match funded by NYDC.

NORTH YELL DEVELOPMENT COUNCIL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025

The overall vision for the shop is that:

Our community shop will remain the heart of our thriving, self-sufficient community in North Yell.

It is hoped to achieve this by:

Grant Scheme

NYDC began operation of a formal grants scheme this year which can provide grants for Education and Training, Entertainment, and Small, Medium and Large Scale Community Grants. Over the year a total of £95,804.00 was given out in grant funding..

Get North Yell Going Again

Get North Yell Going Again ended in September 2024 and a full evaluation of the project can be found on our website. Over the course of the project NYDC held 132 events and impacted 7409 people. The project was funded by the National Lottery (£66,457,00) and match funded by NYDC (£22,152.33).

After the culmination of Get North Yell Going Again NYDC directors voted to continue certain aspects of the project as they provide a valuable benefit and service to the community. As such NYDC will continue to operate Community Lunches in partnership with the Cullivoe Hall, Wicked Wednesday’s youth group during the winter months and the weekly prescription and shopping deliveries provided in North Yell.

In the coming year NYDC will seek external funding to support these activities when appropriate. We will also work in collaboration with the SIC Early Adopter Communities Child Care Team, Shetland Recreational Trust, and Active Schools Staff to provide a programme of summer holiday childcare events through the 2025 summer holidays.

Unit 3 and 4 Sellafirth Business Park

Purchase of the Sellafirth business units was completed in October 2024, with the assistance of a Scottish Land Fund grant of £99,000. Unfortunately, the planned developments at Sellafirth had to be put on hold due to an unsuccessful funding bid and lack of NYDC staff capacity to take the project forward. This year NYDC hope to access funding to allow this vital community project to proceed. This involves building improvement works and the creation of a community hub. Based on the community consultation and the priorities for action within the North Yell Development Plan, a mixed-use approach will be adopted for the building, with one unit focused on the delivery of business and community services and training, and the other focused on tourism, culture, and heritage development.

NORTH YELL DEVELOPMENT COUNCIL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT (CONTINUED

FOR THE YEAR ENDED 31 MARCH 2025

The units are currently being used as the base of operations for NYDC staff to work from and hold meetings. One unit is also being used as a workshop for two local crafts people, they currently open the building to welcome visitors and sell items 3 days a week. It is important for NYDC to support local businesses and enterprise.

Through NYDCs participation in Community Energy Scotland’s Rural Energy Hub project we have been able to install an electric vehicle charging point and solar lamppost at Sellafirth

Developments to the units will ensure a more sustainable working space for NYDC staff and directors, expand the services NYDC offers and allow us to meet a number of the Development Plan priorities. In the next year NYDC plans to:

Housing

In October 2024 NYDC completed purchase on 10 Greenbank Terrace, with the assistance of a Rural and Island Housing Fund grant of £142,600. This is a big step for NYDC and is the first property in NYDCs housing portfolio. The house was offered for rental in May 2025 and there was a lot of interest. Tenants will be selected by Arthur Simpson in accordance with the NYDC Local Lettings Policy. This policy prioritises families with primary school aged children and those with jobs in areas of skills shortage in the isles.

In the past year NYDC completed a housing needs analysis which can be found on our website. This demonstrates the need for family housing, housing for young people and workers accommodation.

A business plan is currently being developed assessing the case for purchase of existing properties for community rental, new build housing, development of self-build housing sites and workers accommodation.

In April 2024 NYDC undertook a consultation for a Local Place Plan which demonstrated an agreement across the population for prioritising certain areas in North Yell for a variety of housing needs.

Population retention and increase remains a top priority for NYDC in the coming year and we hope to increase our property and land portfolio as and when suitable buildings/sites become available.

NORTH YELL DEVELOPMENT COUNCIL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT (CONTINUED

FOR THE YEAR ENDED 31 MARCH 2025

Community Transport

As part of the CES Rural Energy Hub (REH) project NYDC has purchased an electric vehicle which in the coming year will begin operating as the first vehicle in NYDC’s North Isles Car Club. The vehicle will be available for community groups and individuals to rent for short periods.

In April 2025 NYDC undertook a Community Transportation Consultation to facilitate the production of a Community Transport Strategy, which will be complied later this year.

As part of the REH project NYDC staff are part of a knowledge exchange programme with other Shetland and Orkney community groups. NYDC staff have attended conferences in both Shetland and Orkney and will continue to do so in the coming year.

Staffing

NYDC currently has 2 full time members of staff. Alice Mathewson remains as Development Manager and Kate Lonsdale’s role was enhanced to Development Officer. Hannah Eynon, previously employed as the Environment, Renewables and Sustainable Transport Officer resigned her post in December 2024. The ERSTO post was then dissolved. Currently NYDC are recruiting for a Facilities’ Manager. This will be a full-time role relating to building management and maintenance of all NYDCs properties including Garth Wind, Marina and Industrial Estate, Shop, Sellafirth Units and 10 Greenbank Terrace. It is hoped to have someone in post from June 2025.

Financial review

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The balance held as unrestricted funds at 31 March 2025 was £4,496,597, after allowing for funds tied up in tangible fixed assets and investments, this is a surplus of £3,306,201.

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finance of the charityand are satisfied that systems are in place to mitigate exposure to the major risks.

The principle risks and uncertainties facing the charity are as follows: - level of donations from Garth Wind

The strategies for managing those risks are as follows:

NORTH YELL DEVELOPMENT COUNCIL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT (CONTINUED

FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

Over the coming year the NYDC hope to achieve the following:

NYDC as always will engage with the community to tackle issues and pursue any further developments as they arise.

5 Year Vision from 2022-27 Development Plan

Our vision for North Yell over the next 5 years is:

Our vision for NYDC over the next 5 years is…

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

A Nisbet

D Instone

K Tulloch

M Lawson

R Coutts J Cunningham

D Henry K Keith A Jamieson

H Spence L Tulloch D Redshaw

NORTH YELL DEVELOPMENT COUNCIL

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT (CONTINUED

FOR THE YEAR ENDED 31 MARCH 2025

Membership of the NYDC is open to all residents of North Yell and all members are invited to elect a board of directors every year at its AGM. The directors are all active members of the community and have a diverse range of skills which enable the NYDC to function competently and efficiently on behalf of the community.

NYDC Membership increased from 103 to 111 after encouraging new members at the consultation event held in April. NYDC implemented Junior Membership last year and this year saw us hold the first every Junior Members Forum Event. The event was designed to introduce the younger members to community involvement and consultation and to find out what was important to them and what NYDC can do to support them. A full report from the event was written and presented to directors in August 2024. Another membership drive will be held in the next year to try to increase NYDC membership further.

How decisions are made

Decisions are taken by the directors and passed to staff to implement.

Remuneration Policy

Staff pay is decided by the Board. All staff salaries are reviewed annually and normally increased in accordance with average earnings and industry norms.

Small Companies Exemption

This report has been prepared in accordance with the provision applicable to companies entitled to small companies exemption.

Related Party Transaction

In order to function effectively and without undue risk to the charity, a subsidiary company, Garth Wind Ltd, is registered to deliver the commercial role in renewable energy. Profits from Garth Wind will be passed back to NYDC.

A subsidiary company North Yell Community Shop Limited is registered to deliver the commercial role of retail shop. Profits from parent charity will be passed onto shop to continue delivery of local retail.

Auditor

In accordance with the company's articles, a resolution proposing that Whitelaw Wells be reappointed as auditor of the company will be put at a General Meeting.

Donation Policy

From time to time the charitable company receives funding or uses its own funds to award donations. Donations are awarded where the trustees believe it will support the charitable aims of the charitable company

Grant Policy

G rant applications are available via email on website. Up to £750 can be approved by staff. Over £750 approved by magority of directors either at a meeting or via whatsapp group.

NORTH YELL DEVELOPMENT COUNCIL STATEMENT OFTRUSTEES RESPONSIBIUTIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustee5. who are a150 the diiett¢)rs of North Yell Oedelopmenl Coun£li for the wpose of company law. are responsible for preparing the TrU￿et$ Rewt and the finafioal statements IN xtordafftcÈ wfth applicable law and United Kingdom Accountiw Standwd5 IVnr¢ed thgdom fjerthuy Ac¢eptedAccwiiing PrattKel. Company Law requ1￿ Ihe Trustees to ￿pare fv)3ntd siements for eath firtanthal year which gwe a irue and fair view of the State of affaiv5 Qf the Charity and of the incoming resour￿5 amd applicatk)n ol resources. including the income and expenditure, olthe charitable company forthat year. In Prepa￿n8 these finandal slaternent5. the Trusttt5 are rewired tth- - selettsuiièbleaccountin8polKiesand then arylvthemc￿I$leDl￿.' . observeihe metfv)dsand prMKip￿s IntheC￿tieS5c￿. . Make1￿entS and estimate5 that are reasonabk ar￿ P￿￿l¥￿. . State whether applicable UK A￿O￿nti￿ Standards have been fow subpu to any material departures di5ckssed and txplained in Ihe financial statements" and prepare the finan£ial statements on the 8oin8 torern basis ￿nI￿S li is inappropriare to presume thai the Charity will tontinue in operation. The Trustees are responsNe lor keeping adequate account1￿ records that (Isdose with reas0fi4ble ¥turary ai any tlmÈ the h"nancial po&tion of the Chanty and enable Ihem to ensure ihat the fmancsal statements ¢ompty with the Charities •nd Trustee Investment Iscotlandl Art 2Q)S. the Ch¥it￿ Accounts IScotl4NJI Reguts¢i(￿5 l￿fj las amended) and the Companies Act 20C6. They 3re also respon5thI* for 53fe8uardry the assets of the and hence foT takins reasonable tteps for the pWevenl￿n and detection of fvaud and other irreguLitrt StatenKnt a5loDtsclosu￿QlItsIQ￿￿S￿ThwA So fai a5 Ihe Trustees are aware. there is no relevant a￿￿￿ informathjn of whith the charitys auditcr5 are unaware. and eath Trustee has taken all the 5tep5 he w8ht to have taken as a Trustee in order to make themself aware of any ￿le¥Ont aydtt knformation and to establish thai the charit￿$ a￿titorS•re4W¥re of that irtfonn¥ti¢)n. TheTrusteesreportWa5approved bylhe Board ofTn￿teeS. AndiewNsbet Oare...oa.os.2&._.

NORTH YELL DEVELOPMENT COUNCIL

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF NORTH YELL DEVELOPMENT COUNCIL

We have audited the financial statements of North Yell Development Council (the 'parent charitable company') and its subsidiaries (the'group') for the year ended 31 March 2025 which comprise the Group and Parent Charitable Company Statements of Financial Activities, The Group and Parent Charitable Company Balance Sheets, the Group Cash Flow Statement the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Qualified opinion

In our opinion, except for the possible effects of the matters describes in the Basis for Qualified Opinion paragraph, the financial statements:

Basis for qualified opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable company in accordance with the ethical requirements that are relevant to our audit 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion except for the matters referred to below.

The audit evidence available to us was limited because we were unable to observe the counting of physical stock having a carrying amount of £82,035 at 31 March 2025 since no stocktake was carried out by the charitable company at that date. We were unable to obtain sufficient appropriate audit evidence regarding the value of year end stock by using other audit procedures.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

NORTH YELL DEVELOPMENT COUNCIL

INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF NORTH YELL DEVELOPMENT COUNCIL

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors Report.

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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 to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities that result from fraud are inherently more difficult to detect than irregularities that result from error.

From enquiries of those charged with governance, it was determined that the risk of material misstatement from fraud was low with little scope for fraud to occur. Our audit testing is designed to detect material misstatements from fraud where there is not high level collusion.

Our audit testing was designed to detect material misstatements from other irregularities that result from error where there is not high level concealment of the error. In this regard the following audit work was undertaken: applicable laws and regulations were reviewed and discussed with management; senior management meeting minutes were reviewed; internal controls were reviewed; and journals were reviewed. From this audit testing it was determined that the risk of material misstatement in this regard was low.

We tested a sample of income and expenditure transactions designed to identify any irregularities as a result of simple mistakes or human error. From this audit testing it was determined that the risk of material misstatement in this regard was low.

NORTH YELL DEVELOPMENT COUNCIL

INDEPENDENT AUDITOR'S REPORT (CONTINUED

TO THE TRUSTEES OF NORTH YELL DEVELOPMENT COUNCIL

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and the trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended).. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Kevin Cattanach (Senior Statutory Auditor) For and on behalf of Whitelaw Wells

8 May 2026 .........................

Chartered Accountants

Statutory Auditor 9 Ainslie Place Edinburgh EH3 6AT

Whitelaw Wells is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

NORTH YELL DEVELOPMENT COUNCIL

FOR THE YEAR ENDED 31 MARCH 2025

Consolidated Statement of financial Activities

(Incorporating Income and Expenditure Account)

Notes
INCOME FROM
Grants
3
Charitable Activities
Other trading activities
3
Donations
3
Investments
3
Other income
3
Total Income
Expenditure on
Charitable activities
4
Raising funds
4
Total expenditure
Net (expenditure)/income for the
year
Transfers
20,21
Net Movement in funds
Fund balances at 1 April 2024
Fund balances at 31 March 2025		 Unrestricted
Funds
2025
£
52
1,786,607
1,335
19,378
686,289
2,493,662
874,702
1,152,553
1,341,109
( 72,224 )
1,268,885
3,227,713
4,496,597
277,851		 Restricted
Funds
2025
£
429,143
-
-
-
-
429,143
265,815
265,815
163,328
72,224
235,552
2,888,404
3,123,956
-		 Total
Funds
2025
£
429,195
1,786,607
1,335
19,378
699,216
2,922,804
543,666
874,702
1,418,368
1,504,436
-
1,504,436
6,116,117
7,620,553		 Total
Funds
2024
£
329,930
5,156,184
5,089
82,366

5,573,569

677,136
2,362,999

3,040,135
2,533,434
-
2,533,434
3,582,683

6,116,117

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expanded derived from continuing activities.

The notes on pages 17 to 37 form part of these financial statements.

NORTH YELL DEVELOPMENT COUNCIL

FOR THE YEAR ENDED 31 MARCH 2025

Charity Statement of Financial Activities

Including income and expenditure Account

Notes
INCOME FROM
Grants
3
Charitable Activities
Charitable Activities
3
Investments
3
Donations
3
Total Income
Expenditure on
Charitable activities
4
Raising funds
4
Total expenditure
Net (expenditure) income for the year
Transfers
19,22
Net Movement in funds
Fund balances at 1 April 2024
Fund balances at 31 March 2025		 Unrestricted
Funds
2025
£
52
74,447
3,963
1,693,086
1,771,548
292,598
-
292,598
1,478,950
(72,224 )
1,406,726
681,546
2,088,272		 Restricted
Funds
2025
£
429,143
-
-
-
429,143
370,815
-
370,815
58,328
72,224
130,552
2,888,404
3,018,956		 Total
Funds
2025
£
429,195
74,447
3,963
1,693,086
2,200,691
663,413
-
663,413
1,537,278
-
1,537,278
3,569,950
5,107,228		 Total
Funds
2024
£
329,930
13,908
1,648
300,000
645,486
677,136
-
677,136
(31,650)
-
(31,650)
3,601,600
3,569,950

The notes on pages 17 to 37 form part of these financial statements.

FOR THE YEAR ENDED 31 MARCH 2025

NORTH YELL DEVELOPMENT COUNCIL

CONSOLIDATED BALANCE SHEET

As at 31 March 2025
Notes
Fixed Assets
Tangible assets
10
Intangible Assets
12
Current Assets
Debtors
Stock
14
Cash at bank and in hand
Creditors: amounts falling due within one
Year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
18
Provision for liabilities
18
Net assets
Income funds
Restricted
20
Unrestricted
21
15		 £
863,815
3,412,324
82,035		 2025
£
8,330,447
1,000
3,379,903
11,711,350
(3,479,037)
(611,759 )
7,620,553
3,123,956
4,496,597
7,620,553		 2024
£
£
8,475,962
1,205,610
2,311,747
3,517,357
(987,565)
2,529,792
11,005,754
(3,887,835 )
(1,001,801 )
6,116,117
2,888,404
3,227,713
6,116,117
-		 2024
£
£
8,475,962
1,205,610
2,311,747
3,517,357
(987,565)
2,529,792
11,005,754
(3,887,835 )
(1,001,801 )
6,116,117
2,888,404
3,227,713
6,116,117
-

4,358,174
(978,271 )
3,517,357
(987,565)

11,005,754
(3,887,835 )
(1,001,801 )

6,116,117
2,888,404
3,227,713
6,116,117

The notes on pages 17 to 37 form part of these financial statements.

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED

FOR THE YEAR ENDED 31 MARCH 2025

CHARITY BALANCE SHEET AST AT 31 MARCH 2025

Fixed Assets
Intangible assets
Tangible assets
Current Assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due
Within one year
Net current assets
Total assets less current liablities
Debtors: amounts falling due after more than
one year
Creditors: amounts falling due after more than
one year
Net Assets
Income funds
Restricted funds
Unrestricted funds
Notes
1�
1�
1�
1�
1�
1�
1�
��		 2025
£
£
2
3,130,802
3,130,804
189,105
1,715,468
1,904,573
111,461
1,793,113
4,923,917
183,311
-
5,107,228
3,���,956
������,�7�
5,107,228		 2024
£
£
1
3,011,540
3,011,541
249,700
464,166
713,866
(145,872)
567,994
3,579,553
(9,585)
3,569,950
2,888,40�
681,54�
3,569,950		 2024
£
£
1
3,011,540
3,011,541
249,700
464,166
713,866
(145,872)
567,994
3,579,553
(9,585)
3,569,950
2,888,40�
681,54�
3,569,950

3,011,541
567,994

1,904,573
111,461
713,866
(145,872)

3,579,553
(9,585)
3,569,950
2,888,40�
681,54�
3,569,950

The financial statements were apporved by the Trustees on 8 May 2026

……………………………….. …………………………
A Nisbet J Cunningham
Trustee Trustee
Company registration number SC245227

The � otes on pages 1 7 to 3 7 form part of these financial

statements

NORTH YELL DEVELOPMENT COUNCIL

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

2025
£
1,957,443
(467,447 )
19,378
(448,069 )
(408,798 )
(408,798 )
1,100,557
2,311,747
Cash flows from operating activiites:
Net cash provided by operating activities
Cashflow from investing activities
Purchase of fixed assets
Interest received
Net cash from investing activities
Cashflow from financing activities
Repayment of loans
Dividends
Net cash from financing activities
Movement in cash and cash equivalents
Opening cash and cash equivalents
Closing cash and cash equivalents
3,412,324
Reconciliation of net income to net cash from operating activities
1,504,436
611,961
(19,378 )
341,795
(9,294)
(390,042 )
Net income for the year
Adjustments for: Depreciation
Finance income
Decrease in debtors
(decrease)/Increase in creditors
Deferred tax
Increase in stock
(82,035)
---------------------,-----
---
-1957
-------
,443		 2024
£
3,298,811
(48,751 )
5,089
(43,662 )
(2,275,879 )
(2,275,879 )
979,267
1,332,480
2,311,747
2,533,434
601,219
(5,089 )
(768,826 )
167,000
771,072
3,298,811
-
-----------------------------------

Net income for the year
Adjustments for: Depreciation
Finance income
Decrease in debtors
(decrease)/Increase in creditors
Deferred tax
Increase in stock
--

The notes on pages 17 to 37 form part of these financial statements.

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

North Yell Development Council is a private company limited by guarantee incorporated in Scotland. The registered office is Keldahoul, Cullivoe, Yell, Shetland, ZE2 9DD, Scotland.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The group financial statements consolidate the financial statements of North Yell Development Council with its wholly-owned subsidiary, Garth Wind Limited and wholly-owned subsidiary, North Yell Community shop Ltd on a line-by-line basis. Separate individual accounts are prepared and lodged with the registrar of Companies for its subsidiaries.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and for at least a period of 12 months following the date of approval of these financial statements. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Sales from the generation of electricity from the wind farm are recognized at the point at which the subsidiary company has fulfilled its contractual obligation and risks and rewards attaching to the product have been transferred to the customer.

Grants are recognized when the charity becomes unconditionally entitled to the income. Where related to performance and specific deliverables, grants are accounted for as the charity earns the right to consideration by its performance.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill shall be considered to have a finite useful life, and shall be amortised on a systematic basis over its life.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses

Assets with a cost over £500 are capitalised

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold buildings 5% on cost Land Nil Plant and equipment At varying rates on cost Computers 33% on cost Motor vehicles 20% Straight line

Standard security charge over 10 Greenbank in relation to grant received towards the purchase of the property from the Rural and Island Housing Fund,

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of 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 non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.12 Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of time pattern in which economic benefits from the lease asset are consumed.

1.13 Deferred Tax

Deferred tax liabilities are generally recognized for all timing differences and deferred tax assets are recognized to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognized if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to the items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Income

Donations
Rental income
Sales
Grants
Investment
Income
Other Income		 Group
2025
£
1,335
1,786,607
429,195
19,378
686,289
2,922,804		 Group
2024
£
-
-
5,156,184
329,930
5,089
82,366
5,573,569		 Charity
2025
£
1,693,086
-
52,346
429,195
3,963
22,101
2,200,691		 Charity
2024
£
300,000
-
13,908
329,930
-
1,648

645,486

Income for the group was £2,922,804 (2024: £5,573,569 of which £2,493,662 (2024: £5,243,639) was unrestricted and £429,143 (2024:£329,930) was restricted. Income for the charity was £2,200,691 (2024; £645,486) of which £1,771,548 (2024; £315,556) was unrestricted and £429,143 (2024; £329,930) was restricted.

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4. Expenditure - Group

Charity Garth Garth Garth Shop Group Group Group Group Group Group Group
2025 2025 2025 2025 2024
£ £ £ £ £
Direct Cost
Staff cost 109,279 - 20,923 130,202 98,197
Insurance 11,982 60,763 - 72,745 36,269
Telephone 435 - - 285
Office costs 2,857 - 382 3, 239 5,310
Advertising 1,987 - 737 2,724 13,294
Subscriptions 890 - - 890 895
Sundry 7,833 27,981 1.056 36,870 12,146
Travel 6,326 269 - 6,595 13,684
Heat/light/rates 21,844 - 3,443 25,287 331
Equipment
repairs		 - 179,032 - 179,032 47,640
Rent - 164,808 - 164,808 359,746
Projects costs 62,513 - - 62,513 62,519
Direct costs - 61,541 201,888 263,429 80,268
Motor expenses 1,124 - - 1,124 -
Closingstock - - (82,035) (82,035) -
Other
expenditure
Bank charges 50 5,999 899 6948 65
Exchange rate - 1,807 - 1,807 -
Bank interest - 171,735 - 171,735 605,918
Donations 150 - - 150 1,640
Grants 99,465 - - 99,465 242,835
Deferred tax - (393,631) 3,589 (390,042) 771,072
Support costs
Consultancyfee 5,222 7,525 - 12,747 57,039
Depreciation 187,632 420,348 3,981 611,961 601,219
Legal &prof fee 15,269 - - 15,269 15,897
Goverance costs
Audit fee 8,000 5,025 3,950 16,975 10,325
Accountancyfee 808 2,035 652 3,495 3,541
543,666 715,237 159,465 1,418,368 3,040,135

Included above is restricted expenditure for the group amounting to £265,815 (2024: £559,050)

All other expenditure was unrestricted in both the current and previous year. Further analysis of the charitable activities is not provided as the Trustees believe the Charity only has one main activity.

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5 Expenditure – Charity

Expenditure – Charity
Direct costs
Staf costs
Insurance
Telephone
Ofce costs
Advertsing
Subscriptons
Sundry
Travel
Heat/light/rates
Rent
Project costs
Motor expenses
Other expenditure
Bank charges
Donatons
Grants
Support costs
Consultancy
Depreciaton
Legal & prof fee
Goverance costs
Audit fee
Accountancy fee		 2025
2024
£
£
109,279
98,197
11,980
6,524
435
285
2,857
5,310
1,987
13,294
890
895
11,454
12,146
6,326
13,684
21,844
331
2,444
62,513
62,519
1,124
50
65
150
-
215,592
244,475
5,222
12,259
187,632
180,871
15,269
15,897
8,000
6,500
808
1,441
663,413 677,136

Included above is restrited expenditure for the charity amounting to £370,815 (2024: £559,050). All other espenditure was unrestrocted in both the current and previous year.

-22-

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Grants payable - group
Grants to institutions:
Mid Yell School
Cullivoe Hall
Culliove Parent Council
Cullivoe Up Helly aa
Norh Isles Football Team
North Yell Community Council
Norht Isles Juniors
Sail Yell
Shetland Islands Council
Shetland Netball Association
Yell Football Association
Yell Primary School
Yell Youth Café
Whalefirth Mens shed
Norht Isles Football
Community Nurses
Mid Yell Hall
West Sandwick Hall
Sellafirth Hall
North Ness Hall
Burrvoe Hall
Aywick Hall
North Yell Communtiy Shop
Grant to individual		 2025
2024
£
£
5,000
71,073
18,874
1,960
4,500
32,270
750
378
3,205
750
5,518
1,675
3,631
1,000
750
3,500
750
25,943
2,350
9,725
16,095
15,175
15,175
15,175
17,413
16,095
95,291
193,439
4,174
49,396
99,465
242,835		 Charity
2025
2024
£
£
5,000
71,073
18,874
1,960
4,500
32,270
750
378
3,205
750
5,518
1,675
3,631
1,000
750
3,500
750
25,943
2,350
9,725
16,095
15,175
15,175
15,175
17,413
16,095
116,127
211,418
193,439
4,174
49,396
215,592
242,835

Grant applications are available via email on website. Up to £750 can be approved

by staff. Over £750 approved by majority of Directors either at a meeting or via whatsapp group.

Minimum application amount for community grant is £750 Awards will be limited to a maximum of £50,000

The grant is designed to enable projects that have direct benefit to Noth Yell

residents, contribution to the charitable objectives of charity and/or fit well with the key themes of the North Yell Development Plan or identified priorities.

Applicants must be ordinarily residents to North Yell where they live for most of the time

-23-

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7. Net Income for the year

This is stated after charging: 2025 2024
£ £
Depreciation 611,961 601,219
Auditors' remuneration: Audit
fees 16,975 10,325
Operating lease commitments 164,808 360,077

8 Trustees

None of the Trustees (or any persons connected with them) received remuneration or benefits from the Charity during the year.

9 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
3
2025
£
122,021
5,404
2,777
130,202		 2024
Number
3
2024
£
92,178
4,059
1,960
98,197

There were no employees whose annual remuneration was more than £60,000.

The key management personnel of the parent company comprise of Management Director.

The total employee benefits of the key management personnel of the charity were £nil (2024:£nil).

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

10. Tangible fixed assets - Group
Land and
Buildings
Cost
As 1 April 2024
3,539,078
Additions
393,943
Disposals
-
3,933,021
538,673
177,080
-
715,753
3,217,268
As at 31 March 2025
Depreciation and impairment
As 1 April 2024 Depreciation
charged in the year
Eliminated in respect of
disposals
As at 31 March 2025
Carrying amount
As at 31 March 2025
As at 31 March 2024
3,000,405		 Plant and
Equipment
8,420,532
-
-
8,420,532
2,947,759
422,651
-
3,370,410
5,050,122
5,472,773		 Computers
9,326
670
-
9,996
6,542
2,989
-
9,531
466
2,784		 Motor
Vehicles
-
34,075
-
34,075
-
7,099
-
7,099
26,976
-		 Fixtures
& Fittings
-
37,759
-
37,759
-
2,141
-
2,141
35,617
-		 Total
11,968,935
466,447
-
12,435,382
3,492,974
611,961
-
4,104,934
8,330,447
8,475,962

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

11. Tangible fixed assets - Charity

Cost
As 1 April 2024
Additions
Disposals
As at 31 March 2025
Depreciation and impairment As
1 April 2024
Depreciation charged in the year
Eliminated in respect of disposals
As at 31 March 2025
Carrying amoun
As at 31 March 2025
As at 31 March 2024		 Land and
Buildings
3,539,078
272,149
-
3,811,227
538,674
175,241
-
713,915
3,097,312
3,000,404		 Plant and
Equipment
12,495
-
-
12,495
4,144
2,303
-
6,447
6,048
8,351		 Computers
9,326
670
-
9,996
6,541
2,989
-
9,530
466
2,784		 Motor
-
34,075
34,075
-
7,099
7,099
26,976
-		 Total
3,560,899
306,894
-
3,867,793
549,359
187,632
-
736,991
3,130,802
3,011,540

12 Intangible fixed assets - group

Cost
As 1 April 2024
Additions
Disposals
As at 31 March 2025
Amortisation
As 1 April 2024
Amortisation
As at 31 March 2025
Carrying amount
As at 31 March 2025
As at 31 March 2024		 Goodwill
-
1,000
1,000
-
-
-
1,000
-

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

13 Investment in subsidiary

North Yell Development Council owns the entire issued share capital of the subsidiary company, Garth Wind Limited, being £1 ordinary share. The subsidiary company, number SC451598, is incorporated in Scotland and its principal activity is electricity generation from a wind farm. The company periodically makes donations to the parent charity.

The company generated income of £2,261,591 (2024 £5,228,082), incurred expenditure of £2,628,884 (2024: £1,891,926) including donations to the parent charity of £1,691,751 (2024, £300,000) of taxable profits to its parent company. It made a deficit of £539,028 (2024 surplus of : £3,336,156) for the year ended 31 March 2025 and its aggregate capital and reserves amounted to a surplus of £2,400,769 (2024: surplus of £2,546,166) as at the year end.

North Yell Development Council owns the entire issued share capital of the subsidiary company, North Yell Community Shop Limited, being £1 ordinary share. The subsidiary company, number SC792470 is incorporated in Scotland and its principle activity is a retail store.

The company generated income of £170,654, incurred expenditure of £18,368 giving a profit before tax of £11,190 and its aggreaged capital and reseres amounted to a surplus of £11,191.

In order to function effectively and without undue risk to the charity, a subsidiary company, Garth Wind Ltd is registered to deliver the commercial role in renewable energy. Profits from Garth Wind will be passed back to NYDC.

A subsidiary company North Yell Community Shop Limited is registered to deliver the commercial role of retail shop. Profits from parent charity will be passed onto shop to continue delivery of local retail.

During the period ended 31 March 2025, North Yell Community Shop Limited received capital grants totalling £116,127 from North Yell Development Council. A loan also exists between North Yell Community Shop Limited and North Yell Development Council, £183,311 is due from North Yell Community Shop Limited to North Yell Development Council at the balance sheet date.

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

--------------------------------------------------------------------------------------------------------------------------

14. Debtors: Amounts faling due within one

year:

year:
Trade debtors
Other debtors
Prepayments and accrued income
Accrued inoome
Vat
Stock
Stock
15		 Group
2025
57,598
11,812
161,125
633,280
-
863,815
82,035		 Group
2024
302,135
2,339
901,136
1,205,610
-		 Charity
2025
50,319
11,059
127,727
189,105
-		 Charity
2024
-
2,037
210,916
36,747
249,700
-

------------------------------------------------------------------------------------------------------------------------------------------------------------------

-28-

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

16 Creditors: amounts failing due within one year:

Other taxation and social security
Trade creditors
Other creditors
Vat payable
Accruals
Deferred Income
Loans		 Group
2025
£
-
30,016
19,254
163,923
262,977
375
501,725
978,271		 Group
2024
£
2,706
71,419
6,156
173,840
198,051
-
535,393
987,565		 Charity
2025
£
-
9,015
19,129
4,600
78,716
-
-
111,461		 Charity
2024
£
2,706
70,384
6,756
-
66,026
-
-
145,872

17 Debtors: Amounts faling due after more than one year:

Amounts owed from group
undertakings		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
-
183,311
-
-

18. Creditors: amounts faling due over one year:

Other creditors
Loans
Deferred Income		 Group
2025
£
12,680
3,444,089
22,268
3,479,037		 Group
2024
£
22,264
3,865,571
-
3,887,835		 Charity
2025
£
-
-
-
-		 Charity
2024
£
9,585
-
-
9,585

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

An analysis of the maturity of loans is given below:

Loans - 1-2 years
Loans - 2-5 year
Loans - over 5 years		 425,813
1,468,234
1,550,042
3,444,089		 425,813
1,468,234
1,971,524

3,865,571

Tridos Bank NV hold a bond, fixed and floating charge over the assets of the company

Secured Bank Loans 2025: £3,444,089 (2024: £3,865,571)

In addition to the above, the Scottish Ministers hold a standard security over one of the group's properties.

Deferred tax
Balance at 1 April 2024
Movement in the year
Balance at 31 March 2025		 2025
£
611,759		 2024
£
1,001,801
1,001,801
(390,042 )
611,759

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

19 Restricted funds charity

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Capital Funding
Marina Fund
Inspiring Fund
Community Infrastructure Fund
Marina Info Renewables & Info Fund
Get North Going Again Fund
Energy Scheme Fund
Carbon Neutral fund
Scottish Civic Trust Fund
North Highlands Climent Fund
Dtas Scotland Fund
Shop Units Fund - Capital
Greenbank Terrace House Fund Capital
Carbon Neutral Fund - Revenue Shop
Shop Fund - Capital		 Balance at
1 April 2023
£
1,254
2,964,525
8,880
47,185
32,362
23,190
22,220
4,768
-
-
-
-
-
-
-
3,104,384		 Movement in funds
Incoming
resources
£
Resources
expended
£
Transfers
£
-
-
-
-
(156,437)
7,787
-
(277)
(277)
-
(2,606)
(13,791)
-
(1,618)
(1,618)
34,039
(56,441)
-
-
(42,240)
20,020
295,891
(299,431)
1,019
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
329,930
(559,050)
13,140		 Balance at
1 April 2024
£
1,254
2,815,875
8,326
30,788
29,126
788
-
2,247
-
-
-
-
-
-
-
2,888,404		 Movement in funds
Incoming
resources
£
Resources
expended
£
Transfers
£
Balance at
31 March 2025
£
-
-
-
1,254
-
(156,437)
-
2,659,438
-
(277)
-
8,049
-
(1,697)
-
29,091
-
(1,618)
-
27,508
-
(788)
-
-
-
-
-
-
-
(2,522)
275
-
400
(400)
-
-
150
(150)
-
-
8,400
-
-
8,400
99,000
(5,528)
30,355
123,827
120,000
(8,080)
41,594
153,514
96,193
(88,318)
-
105,000
(105,000)
-
7,875
429,143
(370,815)
72,224
3,018,956
-		 Movement in funds
Incoming
resources
£
Resources
expended
£
Transfers
£
Balance at
31 March 2025
£
-
-
-
1,254
-
(156,437)
-
2,659,438
-
(277)
-
8,049
-
(1,697)
-
29,091
-
(1,618)
-
27,508
-
(788)
-
-
-
-
-
-
-
(2,522)
275
-
400
(400)
-
-
150
(150)
-
-
8,400
-
-
8,400
99,000
(5,528)
30,355
123,827
120,000
(8,080)
41,594
153,514
96,193
(88,318)
-
105,000
(105,000)
-
7,875
429,143
(370,815)
72,224
3,018,956
-
3,018,956

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

20 Restricted funds group

The restricted funds of the charity and group comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Capital Funding
Marina Fund
Inspiring Fund
Community Infrastructure Fund
Marina Info Renewables & Info Fund
Get North Going Again Fund
Energy Scheme Fund
Carbon Neutral fund
Scottish Civic Trust Fund
North Highlands Climent Fund
Dtas Scotland Fund
Shop Units Fund - Capital
Greenbank Terrace House Fund Capital
Carbon Neutral Fund - Revenue
Shop Fund - Capital		 Balance at
1 April 2023
£
1,254
2,964,525
8,880
47,185
32,362
23,190
22,220
4,768
-
-
-
-
-
-
-
3,104,384		 Movement in funds
Incoming
Resources
Transfers
resources
expended
£
£
£
-
-
-
-
(156,437)
7,787
-
(277)
(277)
-
(2,606)
(13,791)
-
(1,618)
(1,618)
34,039
(56,441)
-
-
(42,240)
20,020
295,891
(299,431)
1,019
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
329,930
(559,050)
13,140		 Balance at
1 April 2024
£
1,254
2,815,875
8,326
30,788
29,126
788
-
2,247
-
-
-
-
-
-
-
2,888,404		 Movement in funds
Incoming
Resources
Transfers
Balance at
resources
expended
31 March 2025
£
£
£
£
-
-
-
1,254
-
(156,437)
-
2,659,438
-
(277)
-
8,049
-
(1,697)
-
29,091
-
(1,618)
-
27,508
-
(788)
-
-
-
-
-
-
-
(2,522)
275
-
400
(400)
-
-
150
(150)
-
-
8,400
-
-
8,400
99,000
(5,528)
30,355
123,827
120,000
(8,080)
41,594
153,514
96,193
(88,318)
-
7,875
105,000
-
-
105,000
429,143
(265,815)
72,224
3,123,956		 Movement in funds
Incoming
Resources
Transfers
Balance at
resources
expended
31 March 2025
£
£
£
£
-
-
-
1,254
-
(156,437)
-
2,659,438
-
(277)
-
8,049
-
(1,697)
-
29,091
-
(1,618)
-
27,508
-
(788)
-
-
-
-
-
-
-
(2,522)
275
-
400
(400)
-
-
150
(150)
-
-
8,400
-
-
8,400
99,000
(5,528)
30,355
123,827
120,000
(8,080)
41,594
153,514
96,193
(88,318)
-
7,875
105,000
-
-
105,000
429,143
(265,815)
72,224
3,123,956
3,123,956

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Capital fund – Money set aside for capital projects,

Marine fund – Construction of the marina and industrial estate – creation of 10 additional sites and 28 berths. Inspiring fund – funding for community projects.

Community infrastructure fund – purchase of community event infrastructure

Marina Info Renewables & info fund – Installation of renewables energy and recycling infrastructure at marina. Get North Going Again fund – covid recovery scheme to help community.

Energy Grant fund – grant scheme offering every permanent resident of North Yell cost towards heating and lighting. Carbon Neutral fund – funding for carbon audit.

Scottish Civic Trust fund – funding for grant to community.

North Highlands Climate fund – funding for travel costs.

DTAS Scotland fund - funding for vat review.

Shop units fund - Capital - grant to finance units.

Greenbank Terrace House fund Capital - grant to buy house.

Carbon Neutral Fund - growing areas funding.

Shop fund - capital - grant to buy community shop - shop purchased 12.11.2024 and there is pm-going monitoring for a period of 5 years from this date, for that 5 year period and only once it ends can te fund be trasferred to unrestricted.

21Unrestricted funds - group
Balance at
01 April 2023
£
General
Funds
478,299
Balance at
01 April 2024
£
General
Funds
3,227,713
 Incoming
resources
£
5,243,639
Incoming
resources
£
2,493,662		 Resources
Transfers
expanded
£
£
(2,481,085 )
(13,140 )
Movement in Funds
Resources
Transfers
expanded
£
£
(1,152,553 )
(72,224 )		 Balance at
01 April
2024
£
3,227,713
Balance at
31 March
2025
£
4,496,597

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

22. Unrestricted funds - charity

General
Funds
General
Funds		 Balance at
01 April 2023
£
497,216
Balance at
01 April 2024
£
681,546		 Incoming
resources
£
315,556
Incoming
resources
£
1,771,548		 Resources
Transfers
expanded
£
£
(118,086 )
(13,140 )
Movement in Funds
Resouces
Transfers
expanded
£
£
(292,598 )
(72,224 )		 Balance at
01 April
2024
£
681,546
Balance at
31 March
2025
£
2,088,272

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

23. Analysis of net assets between funds - Group
Unrestricted Restricted Total
2025 2025 2025
£ £ £
Fund balances as 31 March 2025
are represented by:
Tangible assets 5,246,244 3,084,203 8,330,447
Intangible assets 1,000 - 1,000
Current assets/(liabilities) 3,340,149 39,753 3,379,902
Long term liabilities (3,479,037 ) - (3,479,037 )
Provisions (611,759) - (611,759)
Total 4,496,597 3,123,956 7,620,553
Unrestricted Restricted Total
2024 2024 2024
£ £ £
Fund balances as 31 March 2024
are represented by:
Tangible assets 5,592,670 2,883,291 8,475,961
Current assets/(liabilities) 2,524,679 5,113 2,529,792
Long term liabilities (3,887,835 ) - (3,887,835 )
Provisions (1,001,801) - (1,001,801)
Total 3,227,713 2,888,404 6,116,117

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

24. Analysis of net assets between funds - Charity
Unrestricted
2025
£
Fund balances as 31 March 2025
are
represented by:
Tangible & Intangible assets
151,601
Current assets/(liabilities)
1,936,671
2,088,272
Unrestricted
2024
£
Fund balances as 31 March 2024
are
represented by:
Tangible assets
128,250
Current assets/(liabilities)
553,296
681,546		 Restricted
2025
£
2,979,203
39,753
3,018,956
Restricted
2024
£
2,883,291
5,113
2,888,404		 Total
2025
£
3,130,804
1,976,424
5,107,228
Total
2024
£
3,011,541
558,409
3,569,950

NORTH YELL DEVELOPMENT COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

25 Taxation

The charity is exempt from tax on income and gains within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains 1992 to the extent that these are applied to charitable objectives.

The trading subsidiary paid nil in UK corporation tax that arose on ordinary activities in the trading subsidiary for the year ended 31 March 2025 (2024: nil).

26 Related party transactions

Related party transactions during the year, £6,753 (2024: £1,329) of income was received from entities in which a Trustee was a Director or Trustee and expenditure of £79,938 (2024: £34,965) was paid to entities which Trustees were a Director or Trustee., No balance was outstanding at the year end (£nil). No trustee was reimbursed expenses £nil (2024: £nil).

During the period ended 31 March 2025, £12,470 worth of purchases were made by the group from R S Henderson Ltd, a company which Stephen Henderson is a shared director. At 31 March, included in trade credtors there was an amount due b the group to R S Henderson Ltd of £1,144. During the period, the period, the group purchased a property with a value of £110,000, fixtures and fitting of £17,000 and stock of £87,730 from R S Henderson Ltd.

27 Lessee

Lease commitments are based on a percentage of gross income each year. There is no minimum commitment. Other minimum financial commitments total £717,790 (2022; £717,790) in relation to the service and maintenance agreement

Lease to Crown Estate Scotland

< 1 Year - £56 1 - 2 years - £56 2 - 5 years - £168 > 5 years - £1,008

28 Analysis of changes in net funds

The Charity had no material debt during the year.