Charlty reglstratlon number SC052681 IS£otlandl OPEN SCIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 OPEN SCIO LEGALAND ADMINisfRATIVE INFORMATION Trustees G Powell J Cartye A Anderson (Appointed 6 November 20251 M Murie (Appointed 23 April 20251 (Appointed 29 January 20261 (Appointed 17 December 20251 E Henry J Mitchell A Tre5adern A Foster (Appolnted IS November 20251 (Scotlandl Charlty reglstratlon Scotland SC052681 Re8lstered 4)ffl¢• 14 Market House Lerwick Shetland ZEI OJP Independent e¥•mlner Thyme Tax & kcountsry Ltd 36An8u5fv&ld Avenue Aberdeen United Kingdom AB15 6Aa OPEN SCIO CONTENTS Page TrustÈes' report Independent exarniner's report statement ol flnancial activities Statement of flnancial position Notes to the linantial statements 5-11 OPEN SCIO TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2026 The trustees present their annual rewrt and financial staiements for the yearended 31 March 2026. The financial ststements hève been prepared in ac£ordancÈ with the a£countin8 policies set out In note I to the flnanclal statements and comply with the charity's govÈrninB documenL the Companies Att 2(K>6 the Charities and Trustee Investment Iscotlandl Act 2(K)5, the Charities Accounts15cotlandl Regulations 2006. FRS 102 Yhe Financial Rew>rtin8 Standard 8pplicable 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 IFRS 1021" Oble¢tlves •nd adlvltles OPEN'S vision 15 to make Shetland a place where youn8 people thrwe Our ambition is to cultivate a youth-led environrnent in Shetland where youn8 people can thrive. Embracin8 a holistic approach. we airn to add￿55 the challen8e5 faced by youn8 people arid e5tsblish a comprehensive framework for positive chan8e. We hi8hly value collaborative relationships and are committed to working together. What we want to achieve.. • Shetland'5 young people feel more connected, valued, 3n(J heard on issues that matter to them • Young people a￿ iThlormed and empowered to develop strength and wellbeing . Sy5terns, policy and pra¢ti¢e better reflect the priorities of Shetland's young people • Shetland's young people have influence throuah leadership roles and partnership working OPEN'S Services.. Peer Education Peer Mentorin8 Peer Research O) Cafe - drop in space for youn8 people Youth Infr*rrnatlOA Publlc benefit The trustees have pald due regard to guldance Issued by the Charlty CommlssloTh in decidlng what artlvitles the charlty should undertake. Flnanclal revlew Reserves policy It is the policy of the charity that unrestricted lunds which have not been designated for a specific use should be malntèlned 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 sl8nificant drop in fundin& they will be able to continue the charity's current activities whlle consideratlon is glven to ways in whlch 3ddStlonal lunds may be ralsed. Thls level ol reserves has been malntalned throughout the year. The charity has £232,443 reseNes as at 31 March 2026. After deduction ol ￿ttritted reserves of É188.023 the tharity has £44,420 unrestricted reserves. The tru5tees' report was appro¥ed by the 8oard of Trustees. J Carlye Tru51ee 11 lune 2026 OPEN SCIO INDEPENOENT EXAMINER'S REPORT TO THE TRUSTEES OF OPEN SCIO I report on the flnancial statements of charityfor t￿￿areTh￿ed 31 March 2026. which are set out on pages 3 to 11. Responsibilities and basis of report The charity tru5teesl are responsible for the preparation of the finarfial ttÈtements in accordance with the terms of the Charities arid Trustee InvestmÈnt15totlandl Art 21X>5 and the Charities ktounts Istotlandl Regulations 2006.The tharity trustees consider that the audit requirement of Re8ulation I¢Mlllal-l¢l of the Charities Attounts1Scotlandl RÈgulations 2006 does not èpply. It Is my responslbility to examine the financial statements as required under sertion 44llllcl of the Charities and Trustee Investment (Scotlandl Act 2CK)5 and to state whether particular matters have come to my attent￿n. Independefit examlner's ￿aternent Slnce the charlty hès p￿pared its financlal statements on an accruals basis and Is also registered in Scotland. the Independent examiner must be a member ol a tr￿)dy listed Regulation 11121 of the Charltles Accounts Iscotlandl Regulatlons 2006. 1 confirm that l èm qualified to undertake the examination because l am a member of ACCA. which Is one of the Ilsted bodles. In the course of my exarnination. no matter ha5 come to my attention . which gives me reasonable cause to ￿lie¥* that in any material resFect the requirements.. to keep accountin8 records in accordance with Section 44llllal of the Charities and Trustee Investment (Scotlandl Act 2005 and Regulation 4 of the Charities Accounts (Scotlandl Re8ulation5 2006, and to prepare financial 5tatement5 whKh accord with the accountinB records and comply with Re8ulatitsn 8 01 the Charitie5 Aceounts Iscotlahdl Re8vlation$ 21J)6 have not been met, or 2. to which, in My opinion. attention sh￿Id be drawn in order to enable a proper understandin8 of the finan¢lal staiemenis to be reached. accountin8 records were not kept in respect ol the charity as required by section 386 of the Companies Act 2006. the financial starements do not accord with those records., or the financial 5tstements do not cornply with the accounting ￿qUirementS of sectitsn 396 of the Companie5 Act 2006 other than any ￿QUireMent that the financial 5￿te￿Nts give ¥ true and fair wew, which is not a rnatter considered as part of an independent examination: or the flnanclal statements ha￿ not beeTr prepared In accordance wilh the methods and principles of the Statement of Recommended Practice fo¥ accounting and reporting by chariiies applicable ro chariiies preparin8 their financlal statement5 In accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concern5 arid have come acr055 no other matters irb connection with the exarnination to which attention should l)e drawii iii this rewrt in order to enable a proper understanding of the financial statements to be reached. Wilma A Sim FCCA Thyme Tax & Accountsncy Ltd 36 Angusfield Avenue Aberdeen A815 6AQ Dated.. 11 June 2026 OPEN SCIO sfATEMENT OF FINANCIAL ACtIVlTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2026 Restated Unre#rirted funds 2026 Resirirted fvnds 2026 T￿•1 Unresidrted fvnds 2025 Re#rftted fund5 2025 Total 2026 2025 Notes Income from.. Donations and lega¢ies 291.427 3.670 292.027 12.138 1.452 7.538 2,805 2.853 204,315 211,853 2,805 2,853 Investments 1.452 Total Income 10.520 295,097 305.617 13,196 204.315 217,511 Expendlture on: 9.204 175,561 184.765 191,057 197,861 Total expendlture 9.204 175,561 184.765 191.057 197,861 Net Income and movement In fuThds 1,316 119,536 120.852 6,392 13,258 19,650 R•¢on¢llla¢ion of fund$'. Fund balances at l April 2025 43.104 68,487 111.591 36,712 55.229 91,941 Fund balan£e5 a131 Ma￿h 2026 44.420 188,023 232.443 43,104 68,487 111,591 The statement of flnancial attivhies includes all gains and losses recognised In the year. All Income and exPend￿Ure derive from continuing activities. OPEN SCIO sfATEMENT OF FINANCIAL POSITION ASAT31 MARCH2026 2026 2025 Notes Current assets Cash at bank and in hand 232.743 111.891 Current Ilabllitles io 13001 Net current assets 232,443 111,591 The funds olihe ¢h•rltv Restricted income funds Unrestri¢tetl funds 12 13 188,023 44,420 68,487 43,104 232.443 111,591 The members have not requlred the compaThy to obtain an audr( of its linancial statements for the year In question In accordance with section 476. The financlal ststements were approved by the trustees on 11 June 2026 J Carlye Trustee OPEN SCIO NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Accountlng pollcles Charity inforniation Open is a Scottish Chartable Incorporated Organisation ISCIOI . The ￿81#e￿d office 1$ 14 Market House, Lenvi¢k, Shetland. ZEI OUR. 1.1 Bas15 of preparatlon The financièl statements have been prÈpared in a£tordance with the charity's governin8 document. thÈ CompaniÈs Act 2006 the Charities ènd Trustee InvestmÈTht Ikotlandl Att 21K>5, the CharitiÈs Accounts (Scotlandl Regulations 2006, FRS 102 'The Financial Reporting sthndard èpplicable in the UK and Republic of Ireland and the Chèrities 50RP 'Accounting and Reporting by Charities-. Statement of Recommended Prartice applicable to charities preparlng thelr accounts In accordance with the Financial Reporting Standard applicab￿ in the UK and Rewblic of Ireland IFRS 1021" The charlty Is Public Benefit Entity as defined by FRS 102. The charSty has taken advantage of the provlsfjons in the SORP lor charities not to prepare 3 ststement of cash flows. The flnan