COMMUNITY DEVELOPMENT COMPANY OF NESTING ANNUAL REPORT & UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 SCOTTISH CHARITY NUMBER.. COMPANY REGISTRATION NUMBER.. SC048164 SC589570
COMMUNITY DEVELOPMENT COMPANY OF NESTING TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 28 FEBRUARY 2025 The Trustees present thelr annual report and financial statements for the year ended 28 February 2025. The financial statements havè been prepared in accordance with the accountlng policies set out in note I to the financial statements and comply with the charitable company's governing document, the Charities and Trustee Investment Iscotlandl Act 2005, thè Charitiès Accounts Iscotlandl Regulations 2(X)6 las 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 ènd Republic of Ireland IFRS 1021" as amended for accounting periods commencing from l January 20191. OBJECTIVES & ACTIVITIES The Aald Skul The CDCN (Community Development Company of Nesting) began lifè in December 201S. Two public meetings were held in the community to debate what was to be done to save the Aald Skul from potentially being sold bv the shetland Islands Council ISICI, who owned it at the time. The property was leased from the SIC to the Nesting Local History Group INLHGI, but the propèrty was falling into disrepair, and the SIC intimated that they could not justify the needed investment to restore or arrest the decay of the buildings. The NLHG could not afford to fund the needed work either. The CDCN. was set up,. thè remit of which was to pursue all possible means to save the property for f urther community use. Apart from the history group's base there, the community also used some of the land as burning site for the Nesting and Girlsta Up-Helly Aa. Community Ideas CDCN came to be born- with an initial membership that included members of every other group in the area, as well as various other interested people. Articles of Association were written, the CDCN was set up as a company limited by guarant&e lincorporated on 22. February 2018 Company Number SC5895701, and CDCN was registered as a charity (Charity Number SC048164 registered on 27, February 20181. A survey of the whole community was conducted, door to door, to gauge interest in various ideas as to what additional uses the property could be put to, and to garner fresh ideas. Aims The charity's aims are to work in co-operation with organisations and individuals within and beyond Nesting for.. lal The advancement of community development and resilience lincluding the advancement of rural regenerationl by designing and delivering a range of services, including volunteering and learning opportunities which will help Nesting and the wider community to be a vibrant, sustainable and inclusive community for all who live and work here. Ibl The advancement of heritage and culture through raising awareness and understandin8 of the Nesting community, its historic and natural environment, aTrd its traditions and culture.
COMMUNITY DEVELOPMENT COMPANY OF NESTING TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 28 FEBRUARY 2025 Icl The provision of recreational facilities and the organisation of rècreational activites and services, wlth the object of improving the conditions of life forthose who live and work in the area, so as to encourage people to settle and remain in the community. Idl The relief of those in need by reason of age. ill-health. disability, financial hardship or other disadvantage through the provision of accessible and freely available services to bring the mÈmbers of the community together to reduce social isolation and improve community cohesion. ACHIEVEMENTS & PERFORMANCE CDCN'S Growing Spaces Nesting project, which has seen the creation of a new community growing area with Polycrubs, allotments, 2 tree-growing space and a Blrd Hidei progressed significantly during 2024/25. The five Polycrubs were completed in April 2024, with four 6-metre Polycrubs to rent out to community growers and one 12~metre Polycrub for community growing, storage, and other uses. Other features included an allotmÈnt area for outdoor growers, and a small community park with native and non-native trees. Key milestones during 2024125 included the installation of the Polycrubs and fencing in mid-April 2024, tree planting by the end of April 2024. Polycrub tenants moving in during May 2024. and completion of the Bird Hide in February 2025. The Nesting Scrapstore remains popular, now with over 3.800 followers on its Facebook page. In October 2024. two Scrapstore Team Leaders were appointed, with the post shared between Vic Thomas and Chloe Hansen at 10 hours per week each. The Nesting Gym remains popular and continues to be supported by a committed group of volunteers who help with day-to-day management and upkeep. The gym continues to provide affordable access to fitness equipment- now with approximately 300 gym members, and remains an important part of the Aald Skul's overall community use. A Gym Fridge has been established in the Nestin8 Gym, providing gym members with a source of enerkry refreshments and snacks. and £ivinR CDCN a small, additional income Kenerator. I he Business Studio at the AalLI Skul continuea to provi(Je space tor local enterprise actlvlry auring 2U24125. This includes use by existing business and service providers, with the addition of Shetland Accunect5 in February ?n?s CDCN has continued the Nesting, Girlsta and Wadbister Foodbank, and receivèd additional supplies from the Sh@tland Foodbank in Lerwick for the winter 2024125. This initiative remains supported by Skellister Stores and the South Nesting Public Hall, who provide Foodbank donation points in their respective premises. During 2024125, CDCN progrèssed work to complete the Nesting and Girlsta Community Action Plan. The Action Plan provides a clear overview of community priorities and helps to guide CDCN'S own work program, as well as discussion5 Wlth external partners and funders. Priority themes include housing and childcare, which remain key long-term issues for the area. This was comDletod. giqn&d DfF ahd publioh•d in SoptembGr 2024. Affordable housing was one of the main priorities hishlighted through the Community Action Plan, and an area where CDCN felt it could make a meaningful difference. During 2024125, initial investigations were carried out, including exploring assessment funding options and holding early discussions with representatives of the Scottish Governmenvs Rural and Islands Housing Fund and the SIC Housing Service. By the end of February 2025, this work was ongoing, with CDCN intending to seek funding to undertake a Housing Needs Assessment covering Nesting, Girlsta and Wadbister, which will help inform next steps.
COMMUNITY DEVELOPMENT COMPANY OF NESTING TRUSTEES, REPOR T (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 28 FEBRUARY 2025 CDCN commissioned Community Enterprise Scotland to carry out a feasibility study into social enterprise opportunities linked to funeral and burial services, which was finalised in Aprll 2024. Following analysis and discussions, the conclusion was that none of the options assessed were currently feasible for CDCN to pursue, due to high start-up costs, low projected margins, and significant practical and operational barriers. CDCN shared the findings of the study with relevant partners. including SIC Burial Services, and will focus future income-generation efforts on other priorities identified through the Community Action Plan. Work progressed during 2024125 to improve the Aald skul's energy efficiency, with a focus on installing Solar PV and battery storage to support the Scrapstore. CDCN secured £2,000 from CARES Scotland linclusive of 20% match funding from CDCNI towards the cost Df the Building Warrant application, which was approved in February 2025. On 27th February 2025, CDCN also secured £15,492 from the Shetland Community Benefit Fund 130% of the total project costl towards the installation of Solar PV and battery storage. During 2024125, CDCN continued to explore options to sustain the Development Officer post beyond the end of current funding. An application was submitted to the SSEN North of Scotland Community Benefit Fund, however this was unsuccessful. Following this, HIE continued CDCN'S current contract, meaning the post remains funded until the allocated budget is fullv used lestimated to be ar)proximatÈly June 20251. CDCN began exploring options to develop new income-generating activity to support longer-term gustainabilitv. One area being considered is a small consultancy service to support the third sector and other community organisations. During 2024125, initial research and early discussions were held with partners including HIE and the Scottish Land Fund. Alongside CDCN'S own projects and services, CDCN also provided support to a number of community groups during 2024125, including assistance with planning and funding applications. Community-led childcare: A Nesting Childcare Working Group was establishecl in January 2025, and an initial meeting was hel(J with SIC representatives. At that time. CDCN'S position wag that it would support efforts to seek funding for a feasibility study / options appraisal I business Gase for community-led childcare in Nesting, subject to the working group being formalisecj and able to take the lead role in progressing the work. South Nesting Hall- CDCN supported South Nesting Hallto secure £1.791 on 12 November 2024 from the SSEN Community Resilience Fund to install an electrical switchboard which allows a generator to be connected quickly during extendeci power cuts. This will support the hall's role as a local resilience hub, and also means the hall can now m8ke use of CDCN'S portable generator Istored at the Aald Skull when required. Skellister Stores= CDCN held meetings with Skellister Stores, alongside Business Gateway, to explore business development options, including potentl81 use of the SIC Rural Retail Fund for Improvements to the shoD. Discusslong includod whother foasibility work COLJld be 8upported through the fund. This work was ongoino as at Februarv 2025. South Nesting Boating Club: CDCN supported the South Nesting Boating Club to submit a grant application for £79,800 to fund an Environmental Impact Assessment IEIAI for its marina project. This work was progress8d during 2024125, with the fundlng outcome anticipated after February 2025. th North Nesling H811 toilet upgrades.- CDCN supported North Nesting Hall in securing £36,914.67 from the Coastal Communities Fund on 15th May 2024 as the final funding element required to complete the toilet upgrade project.
COMMUNITY DEVELOPMENT COMPANY OF NESTING TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 28 FEBRUARY 2025 Grants and Funding CARES Scotland - £2,000118th October 20241- Aald Skul Energy Efficiency Project- Building Warrant Shet18nd Community Benefit Fund - £15.492127th February 20251- Aald Skul Energy Ettlciency Project130% of tot81 project for Solar PV 8nd Battery install8tiDnl Highlands and Islands Enterprise- 1-year extension of Development Officer funding. People. Volunteering and Governanoe By February 2025, CDCN employed the following staff.. Mark Ratter, Development Officer, 15 hours perweek, Mandy Sutherl8nd, Finance and Admin Officer, 12 hours per week Vic Thomas, Scrap$tore Team Leader, 10 hours perweek Chloe Hansen, Scr8PStoreTeam Leader, 10 hours perweek Andrew Pearson, Cleaner, 5 hours perweek 'reduced from 35 hours p8r week in December 2024. In terms of volunteering) the Scrapstore had approximately eight core volunteers Iwith mid to high regularity of volunteering) and several more occasional volunteers. The gym management team had seven volunteers, plus several other volunteers who help as and when needed. Estimated volunteer hours in 2024125 were around 1,460. which is roughly equivalent to 28 hours per week of paid staff time. CDCN held an AGM on Tuesday 19, November 2024 at 7.30pm in the South Nesting Public Hall. CDCN currently has 6 directors, 36 full members and 8 associate members. FINANCIAL REVIEW AND RESERVES POLICY Unrestrictecs f unds are available for use at the discretion of the Trustees in furtherance of the charitable objectives. Restricted funds are subject to specific conditions by funders as to how they may be used.
COMMUNITY DEVELOPMENT COMPANY OF NESTING TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 28 FEBRUARY 2025 It is the policy of the Charity that unrestricted funds which have not been designated for a speclfic use should be maintained at a level equivalent to between 3 and 6 months expenditure. The Trustees consider that reserves at this level 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. The Trustees have assessed the major risks to which the Charity is exposéd and are satisfied that systems are in place to mitigate exposure to the major risks. STRUCTURE. GOVERNANCE AND MANAGEMENT scorrisH CHARITY NUMBER SC048164 COMPANY REGISTRATION NUMBER= SC589570 The Charity was incorporated on 22 February 2018 as a company whose members liability is limited by guarantee, the company having no share capital. The Charity was established under a Memorandum and Articles of Asssociation which established the objects and powers and the Charity is govorned under its Articles of Assocation. Th& Trustees, who are also the directors for the purpose of company law, and who served durin8 the year and up to the date of signature of the financial statements were.. J Bradley A Foyle M Georgeson l Hunt W E Keith D Stevenson Deceased 0310212026 As set out in the Article5 of Assgciation, directors are elected at each annual general meeting. The registered office i& Aald Skul (Old School) Vassa South Nesting Shetland ZE2 9PP The Tru5tee3 Report was approvetj E>y the Trustees on .................................... W E Keith DATE
Independent Examiner's Report to the Trustees of Community Development Company of I report on the accounts of the charity for the year ended 28 February 2025 which are set out on Daoes 6 to 18. Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the AGt and to state whether partlGulai matters have come to my attention. Basis of independent examinevs statement My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination inGludes a review of the accounting recoids kept by the charity and a comparison of the accounts piesented with those records. It also includes consideiation of any unusual items or disclosures in the accounts. and seeks explanations from the trustees concerning any SUGh mattels. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examinerfs statement In the course of my examination, no matter has come to my attention". which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Reoulations to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Reaulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Neil Ruthven FCCA On boh31f of NGR Aceountanoy Top Floor, The Garrety Esplanade Lerwick Shetland ZE1 OLL Date..
COMMUNITY DEVELOPMENT COMPANY OF NESTING STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 25 FEBRUARY 2025 Restiicted income funds Unrèstricted funds Restricted capital funds Total funds Prior year funds Income Incomefiom.. Donabons and legacies Chafitable athvfti 275 275 170,951 27,160 283 117,942 34,594 80,596 Othe[tradg actriiti85 90,355 27,160 Total Ineome 27,435 80,596 90,355 198,386 152,799 Expendlture EXndItUre on- charItsb aGtivities 80,596 121,576 103,943 TotalExpenditure 80,596 121,576 103,943 Net incomellexpenditure) before transfers for the reporting period (13,5451 90,355 76,810 48,856 Transfer5 between funds 8.855 18,8551 Net movenRntin funds I4,6) 81,500 76.810 48,856 ROne1119*0n ol funds.- Total funds broughtforYfdTd 230,299 8,815 135,158 374,272 325,416 Totsl funds can7ed foThvard 225,609 8,815 216,658 451,082 374,272 The statsment of f Inanci81 actimties includes all gains and losses recognised in the year. Al income and expenditure derive from continuing operations. The statement of finanaal activit8$ also complie5 the r8quiremènts for an income and expenditure account under the Companies Act 20tb.
COMMUNITY DEVELOPMENT COMPANY OF NESTING BALANCE SHEET AS AT 28 FEBRUARY 2025 2025 2024 Fixed assets Tangible assets Investments Total fixed assets Current assets Debtors Cash at bank and in hand Total current assets 430,177 384,404 430,178 384,405 2,468 19,638 T2,106 36,869 52,072 88,941 Creditors: amounts falling due within one year 1,202 99,074 Net current aSsetlIabIlities) 20,904 110,1331 Total assets less currentliabilities 451,082 374,272 Creditors. amounts falling due after one year Total net assets 451,082 374,272 Restricted capital funds Restricted income funds Unrestricted funds Total funds 12 216,658 8,815 225,809 135,158 8,815 230,299 12 451,082 374,272 The company was entitled to exemption from audit under s477 ofthe Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companie5 AGt 2006. Tne (Jlrectors acKnowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance wth the provisions applicable to small ompanies subject to the small companies regime and in acoKJrdance wth FRS102 SORP. The financial statements were approved by the Trustees on W E Keith Trustee Date
COMMUNITY DEVELOPMENT COMPANY OF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting Pollcies Charity Information Community Development Company of Nesting is a private company limited by guarantee, incorporated in Scolsnd. The registered office is Aald Skul (Old School), Vassa, South Nesting, Shetland, ZE2 9PP. 1.1 Basis of accounting The financisl statements have been prepared in accordance with the charitable company's governing document, the Charities and Trustee Investment Iscotlandl Act 2005. the Charities Accounts (Scolandl Regulations 200612s amended) and Accounting and Reporting by Charities". Statement Df Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" as amended for accounting periods commencing from 1 January 20191. The chanty is a Public Benefit Entity as defined by FRS102. The charity has taken advantage ofthe provisions in the SORP not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currenGy of the Cherity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convenb.on (modified to include the revaluation of Freehold Properb"es and to include Invesbment Properbeg 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 forseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Reserves Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the charitable objectives. Restncted funds are subject to specrfic conditions by fijnders 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.
COMMUNITY OEVELOPMENT GOMPANY OF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accounting Poll¢ies {contlnued) 1.4 Recognitlon of income These are included in the Statement of Financial Activities ISOFAI when.. - the charity becomes entiled to the resources", it is more likely than not that the trustees will receive the resources., the monetary value can be measured with sufficient reliability. •dbri uuri¢lLiufTb ¢die ieLuyiiibeu uri ieLeiyi. VLllel uufidLIUIIS die reLuyiiibeu UllLe ui¥ tsri¢dllLy ritl 1.5 Expenditure Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. 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 acb'vity. DireGt costs attirbutable to a single acth.vity 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 act.vity are apportioned beeen those acb"vib"es on a basis cons1Stent with the use of resources. Central staff costs are allocated on the basis of ts.me spent, and deprecI"0n charges are allocated on the portion of the asset's use. 1.6 Tanglble fixed assets Tangible fixed assets are inil'ally measuie(J at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 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 land and buildings - not depreciated Improvements to buildings 20A straight line Plant & equipment- 50 /0 straight line Equipment, Fixtures & Fittings - 500A straight line 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 activits"es. 1.7 Stocks L)ue to the high volume ot low value Items It Is Impractical to esbmate the tair value ot donated items of stock for resale. The charity therefore takes advantage of the exemption in Charities SORP IFRS 10216.29 and does not recognise these items on receipt. The value to the cherity of the donated goods is recognised as inGome when sold.
COMMUNITY DEVELOPMENT COMPANY OF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Accountlng Policies {¢ontinued) 1.8 Debtors Debtors are measured on initial recognition at setuement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. 1.9 Creditors The charity has creditors which are measured at setdement amounts less anytrade discounts 1.10 Financial instruments The charity only has assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequenly measured at settlement Value. 10
COMMUNITY DEVELOPMENT COMPANY OF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Note 2 Income Restrictqd capitsl ftjmds Analysis of inco UnrestrKtsd Restricted funds incon flbnds Total funds 2025 Donations tk)nalions and gifts and legacies- General grants 275 275 Total 275 275 263 Charitable Activities: Grants recEived 80.596 170.951 117 942 other trading activities.. Sales 27,160 27,160 TOTAL INCOME 80 596 1g8 386 152799 Note 3 Analysis of receipts of govemment grants 2025 2024 Highlands & Islands Enterprise Development Worker Delivery Reg)urce Scrapstore team leader 42,897 32,661 Shetland Islands Council CCF fund 13,127 8.287 Shetland Islands Council Scrapstore expansion 34,757 Highland & Islands Enterprise Scrapore expansion 1,646 Shetland Corrmunity Benefrt Fund End of life feafibilily study End of life feasitility study CommuntyAcion Plan 7,280 3,000 Shetland Islands Council 8,7CM) 9.OCM) Shetland Islands Council 6,700 8,WO SSEN Community Resilience fvnd Generator uinh1nc 2 lRIAnAE Fntarnri¢¥ Shgtljnd l£12ndtt Couneil nrnW1n onApM¢ t),JiJ I I,UYD 84,043 1,891 Energy Saving Trust Total 170,951 117,942
COMMUNITY DEVELOPMENT COMPANY OF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Note 6 Paid employees Staff Costs 2025 2024 Salaries and wages Social security costs Pension Gosts (defined contribution scheme) other employee benefits 64,775 48,765 1,217 1,780 Total staff costs 50 545 There were no employees whose annual remuneration was more than £60,000. The average monthly number of employees 2025 2024 Number Number No directors, emoluments or expenses were paid in year.12024 - £nill Note 7 Taxation HMRC recognises the company as a Scottish Ghanty and it is not liable to Corporation Tax on its charitable activities 13
COMMUNITY DEVELOPMENT COMPANY OF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Note 4 Expenditure Total funds Total funds 2025 2024 Expenditure on charitable activities: Wages and salaries Other staff costs Depreciation and impairment Insurance and rates Light and heat Telephone Advertising 64.810 649 15,718 3,792 476 1,722 680 50,545 1,068 13,975 3,401 35 1,378 1,649 E li Sundry Website Office costs Repairs and small equipment Cleaning Donations Motor expenses subscripts.ons Bank Charges Community Action Plan End of life feasiLNlity study Hall hire and catering 1,036 320 499 620 384 275 1,837 843 296 368 290 353 495 157 50 260 8,000 12,000 820 Total expenditure 93,078 95,723 Share of support costs (see Note 51 Share of governance costs (see Note 5) 28,498 8,220 Analysi5 by fund Unrestricted funds Restrictéd funds 40,980 80,596 42,995 60,948 Note 5 Support Costs Governance Costs Support Costs 2025 2024 Legal and professional costs Accountancy services 25,202 3,296 25,202 3,296 40 8.180 Othèr accountancy providers Breakdown of accountancy services.. Independent Examiner 2026 2024 Independent examination fee Other accountancy setv1$ 790 2.506 790 2,506 790 7.390 12
COMMUNITY DEVELOPMENT COMPANYOF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Note 8 Tanglble fixed assets Freehold land & buildlngs Building Improvements Plant, machFneryand Flxtures, fittings and motor vehicles equipmerrt Total Cost At the boginning of the vear Additions Revaluations Disposals Transfers ' At end ofthe year 391,727 20,882 4.986 417,599 589 61,492 Depreciation and impairments At beginning of the Year Disposals Depreciation Impaiment Transfers" At end ofthe year 13,697 14,512 4,986 33,195 6,371 295 15,719 Net book value Net book valLE at 29 February 2024 378,030 6,370 384.404 Net book value at 28 February 2025 429,880 430,17T Note 9 Investments The Charity has a £1 investment being 100°A of the share capital of Aald Skul Enteprises Limrted, a dormant company with registered address of Aald Skul Iold School), Vassa, South Nesting, Shetland, ZE2 9PP. 14
COMMUNITY DEVELOPMENT COMPANY OF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Note 10 Debtors Amounts falling due within one year: 2025 2024 Trade debtors Prepayments and a¢crued Other debtors 270 2,160 38 165 28,109 8,595 Total Note 11 Creditors Amounts fallling due within one year: 2025 2024 Other taxation and social security Other loans Pension Gontn'butions payable Other creditors 97,837 187 1,050 74 1,128 Total Amounts falllng due after mole than one year: 2025 2024 Other loans Total 15
COMMUNrrY DEVELOPMENTCOMPANYOF NESTING NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY2025 Note 12 Charttyfunds 12.1 Detail$ of materlal funds held and movements during the CURRENT reportlng period Fund balances at 28 February 2025 Fund balances at 01 March 2024 Income Expenditure Transfers Fund names Restricted Income.. Scottish Land Fund Big Lottery Fund Shetland Islands Council CCF fund 6,505 2,310 6,505 2,310 Scrapstore team leader Development Highlands & Islands Worker Delivery Enterprise Resource ShetlarKI Community End ol life feasibilty Benefit Fund study End of life feasibility Study 13,127 113,12n 42,897 142,89n 7,280 {7,280) Shetland Islands Gouncivscottish Government 8,700 18,7001 Shetland 151ands Council Community Action Plan 6,700 16,7001 Energy Saving Trust 1.892 8.815 80,596 80,596 8,815 Restricted Capitsl= Highlands & Islands Enterprise Shetland Islands EV Chargepoinl 12,910 12661 12,644 Scrapstore exDansion Scrapslore expansion Generator Council Highland & Islands 85,288 11,741) 83,547 Enterprise 21,339 SSEN Community Resilience fund Shetland Island$ Council Higniano & Islanas Ent¢lP115e 14351 20,904 4,747 14,747) Growng spaces 84,042 11,4441 82,598 rowing spaces 10,874 6,313 222 1 $,965 135 158 8.855 Unrestricted Fund 230,299 27.435 140.9801 8,855 225,609 Total Funds as per balance sheet 374,272 198,386 1121,5761 451,082
COMMUNITY DEVELOPMENT COMPANY OF NESTING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Note 13 Analysis of net assets between funds Restricted Restrlcted Unrestrlcted income funds capltal lund5 Total funds Total funds funds 2025 2025 2025 2025 2024 Tangible fixed assets 213,520 216,658 430,178 384,405 Current assetsllliabilitiesl 12,089 8,815 20,904 110,1331 Long term liabilities Net assets at 28 February 225,609 8,815 216,658 451,082 374,272 Note 14 Related Party Transactions There were no disclosable related party transactions during the year. 12024 - none)
Signed By WILLIAM ELLIS KEini Date Signed 2026-03-05 08.'40.'50 Email ellis@skellister.plus.com Printed Name William Ellis keith IP Address 109.151.139.85 Browser User Agent Mozilla15.0 (Windows NT 10.0: Win64; x64) AppleWebKit/537.36 {KHTML, like Gecko) Chrome/145.0.0.O Safari1537.36 Edg1145.0.0.0 Name of signatory William Keith