THE ISLAND OF HOY DEVELOPMENT TRUST

• ◆

  9 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

A.J.B. Scholes Ltd

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“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 parent or group'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.”

Group structure

1. THE ISLAND OF HOY DEVELOPMENT TRUST · parent
   1. Hoy Energy Limited 100% · Scotland · Renewable energy production

Significant events

• “The Trust aimed to support the community in its ongoing recovery from both the COVID-19 pandemic and the escalating cost-of-living crisis.”
• “The resignation of the long serving chair and other board members reduced board membership to an unacceptably low number (5). A recruitment drive successfully brought numbers back up to 12 with currently just one unfilled place.”
• “The addition of the Community Development Officer (CDO) to the Trust's team has been instrumental in revitalising several stalled projects and initiatives.”
• “The Community Development Plan was successfully launched in June 2023, aligning with the priorities outlined in the Carbon Neutral Islands Action Plan.”
• “The ageing bus fleet has suffered increasing frequency of breakdowns, one bus now being effectively retired.”
• “Financial planning for 'end of useful life' is now seen as a high priority / risk item throughout the industry and has featured heavily in our management responsibilities over recent months, in particular in the audit process.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

14

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

9

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -2.6%

  £758,881 → £739,451

• Cash

  +11.3%

  £1,242,858 → £1,383,639

• Net assets

  +18.8%

  £1,675,103 → £1,990,144

• Employees

  -9.5%

  21 → 19

• Operating profit

  -7%

  £371,850 → £345,978

• Profit before tax

  +15.3%

  £200,757 → £231,529

• Wages

  +1%

  £237,128 → £239,381

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers