Shetland Amenity Trust publishes 2019/20 Annual Report
Published: 06 October 2020
The Shetland Amenity Trust has today published its Annual Report and Accounts for the 2019/20 financial year, which were approved at the AGM last month. They show that before depreciation, investment revaluations and actuarial gains the Trust made a small surplus whereas, in the previous financial year, the comparable measure showed a deficit of nearly £200,000. Along with the full report is a shorter Annual Review of the year.
Mat Roberts, Chief Executive of the Trust said, “This is the first time since 2014 that we have been able to report a surplus in the annual accounts. This was achieved while reducing what we owed and staying within our agreed overdraft facility. There is still a lot to do to make the Trust financially sustainable, but we are going in the right direction.”
For the first time, the Annual Report also includes information on sickness absence rates and the gender pay gap. Sickness absence at the Trust is lower than the national average while, based on median pay, women employees earn very slightly more than men. This contrasts with the equivalent figure across all UK employers, which indicates that men earn 14.3% more than women.
The report also highlights the Trust’s achievements. Chair of the Trust, Alastair Hamilton said, “The Trust undertakes a very wide range of work, and in every area we’re fortunate to have teams who are experts in their fields. They achieved a huge amount during the year. 2019 also saw the launch of our new Strategic Plan, an excellent foundation for the future. Among many events, highlights included the Grayson Perry Exhibition and the 10th year of Shetland Wool Week. We continued our nationally important work on peatland restoration and biological recording, and we worked with the community to strengthen our collective knowledge, understanding and care of Shetland’s heritage.”
The Trustees participated in an independent Board Effectiveness Review during the year, in line with the Scottish Third Sector Governance Code. Following the recommendations, Trustees will sharpen their focus on the most important issues including financial management.
Mr Hamilton continued, “I want to pay tribute to our former Chair, Ruth Mackenzie, because she was behind a great deal of what we achieved. She championed the governance review and supported the changes needed to improve the Trust’s financial viability, including better reporting, which will be more than important than ever as we face the challenges presented by the global Coronavirus pandemic.”