**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:- - Planning, financing, building and operating Garth Wind Farm, North Yell - Promoting the development of the local harbour in conjunction with Shetland Islands Council - Developing and operating a 500m² industrial estate - Actively promoting renewable energy - Supporting local public hall associations and other groups - Supplying 'shared' equipment to local crofters - Attracted a considerable amount of investment into the local area - Pursuing/representing the local community's interests with the Local Authority and other agencies - 1 - ## **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: - Continue to operate the marina for permanent and visiting boats. - Develop plans for land-based operations at the marina - Develop plans for a caravan park or site for temporary accommodation for workers. ## **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. - 2 - ## **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: - Ensuring NYCS remains a well-run local shop at the heart of our community, offering a wide range of food, drink, household essentials and gifts for residents and visitors, continuing vital post office services, and acting as a social hub for the community - Developing stock and services as needed to ensure that the shop is financially stable. ## **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. - 3 - ## **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: - Fully move NYDC office operations. - Develop further community renewable projects. - Establish a wellbeing hub. - Establish a one stop business/advice shop. - Advertise office for business start-up. - Advertise document storage options to local groups and organisations. - Establish the craft retail/exhibition area. - Establish tourist information point. - Establish training centre and ICT centre. - Develop a digital culture and heritage project. ## **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. - 4 - ## **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: - The performance of Garth and potential donations are monitored, with North Yell Development council (NYDC) operation and finance matched to these. - NYDC will continue to pursue other external grant finance. - 5 - ## **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: - Continued operation of the Garth Wind Farm - Continued operation of the North Yell Marina and Industrial Estate. - Continued development of the social housing project for north Yell. - Review and update the Community Development Plan - Create a local place plan for Nort Yell - Begin Operation of North Yell Community Shop - Engage with Shetland Islands Council in the construction of the new road between Gutcher and Cullivoe - Continue to support Tunnel Action Groups and lobby on behalf of fixed links between Unst, Yell and Mainland Shetland. - Continue with Community Lunches and Wicked Wednesdays and home deliveries. - Continued operation of a community transport project - Continue developments in the Sellafirth Units including the establishment of the unit as a renewables demonstrator and transport hub, NYDC/CNI/GNYGA offices, one stop business shop, oral and digital archive, training centre and exhibition/performance area. - Investigate options for the establishment of a North Yell Heritage Trust. 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: - To remain a thriving community, both socially and economically. - To sustain and grow our population, and support and diversify our economic base. - Through tackling any challenges, we might face and taking full advantage of any opportunities which might arise. ## **Our vision for NYDC over the next 5 years is…** - To support the community of North Yell to remain an amazing place to live, work, visit and invest, through enterprise initiative and self-help. ## **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 - 6 - ## **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. - 7 - 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 si*ements 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$leDl￿.' . observeihe metfv)dsand prMKip￿s IntheC￿tieS5c￿. . Make1￿entS and estimate5 that are reasonabk ar￿ P￿￿l¥￿. . State whether applicable UK A￿O￿nti￿ Standards have been fow subpu to any material departures di5ckssed and txplained in Ihe financial statements" and prepare the finan£ial statements on the 8oin8 tor*ern basis ￿nI￿S li is inappropriare to presume thai the Charity will tontinue in operation. The Trustees are responsNe lor keeping adequate account1￿ records that (Isdose with reas0fi4ble ¥turary ai any tlmÈ the h"nancial po&tion of the Chanty and enable Ihem to ensure ihat the fmancsal statements ¢ompty with the Charities •nd Trustee Investment Iscotlandl Art 2Q)S. the Ch¥it￿ Accounts IScotl4NJI Reguts¢i(￿5 l￿fj las amended) and the Companies Act 20C6. They 3re also respon5thI* for 53fe8uardry the assets of the and hence foT takins reasonable tteps for the pWevenl￿n and detection of fvaud and other irreguLitrt StatenKnt a5loDtsclosu￿QlItsIQ￿￿S￿ThwA So fai a5 Ihe Trustees are aware. there is no relevant a￿￿￿ informathjn of whith the charitys auditcr5 are unaware. and eath Trustee has taken all the 5tep5 he w8ht to have taken as a Trustee in order to make themself aware of any ￿le¥Ont aydtt knformation and to establish thai the charit￿$ 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: - give a true and fair view of the state of the group's and the parent charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. ## **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. - 9 - ## **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: - adequate accounting records have not been kept, or returns adequate for out audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - the directors were not entitled to prepare financial statements in accordance with the small companies' regime and take advantage of the small companies exemptions in preparing the directors' report and from the requirements to prepare a strategic report. ## **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. - 10 - ## **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. - 11 - ## **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. - 12 - ## **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. - 13 - _**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. - 14 - ## **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 - 15 - ## **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)
---------------------,-----
---
-1**9**57
-------
,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. - 16 - ## **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. - 17 - ## **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, - 18 - ## **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. - 19 - ## **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. - 20 - ## **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. - 21 - ## **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). - 24 - ## **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| |---|---|---|---|---|---|---|---| ||||||||| ||||||||| - 25 - ## **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| |||-| - 26 - ## **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. - 27 - **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| - 29 - ## **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| - 30 - ## **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| - 31 - ## **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| - 32 - ## **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| - 33 - ## **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| - 34 - ## **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| - 35- ## **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| - 36- ## **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. - 37 -