DISABLED SAILORS ASSOCIATION ClfARITY Nc T028*3 SINCÉ 1993 -￿ REAL salllng for ALL dlsabilltles of ALL ages In wheelchalr accessible boats PATRON - LORD ROCKLEY REPORT OF THE TRUSTEES AND INDEPENDENTLY EXAMINED ACCOUNTS FOR THE DISABLED SAILORS ASSOCIATION {DSA) FOR THE YEAR END 31 DECEMBER 2024 Registered charity number: 1028993 since 1993 Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Ito3 7t08 REPORT OF THE TRUSTEES FOR 2024 The Trustees present their report with the financial statements of the DSA for the year ended 31 December 2024. The Trustees are required to adopt the provisions of Accounting and Reporting of the 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 1021{effective l January 20191. ACTIVITIES - Scott Bader provided 104 disabled sailing trips and a further 4 days of training and delivery trips, Verity K provided 16 sailing trips, 10 dinghies were in use and 2313 people used DSA facilities. FINANCIAL REVIEW - An Independent Examiner using the requirements for financial reporting of the Charities Acts and Charities SORPS reports that: The fund reduced its worth by £254.7K to a total value of £145K. However, this reduction was deceptive as the large sums arrived in 2023 for use by the Children's Catamaran Restricted Fund and were spent in this year leaving it with £27K. Other restricted funds held £5.7K. A further £108.7K was represented by the value of yachts, RIB and equipment. This leaves a General Fund of just £3.6K. (See Note 8 to the Accounts- Statement of Funds) RESERVES POLICY - It is DSA policy to try to maintain a balance of free reserves which equates to at least three months expense payments. This would be approximately £50K which would be held to smooth out fluctuations in cash flow and to meet emergencies. However, this remains an aspiration at present. Given the difficulties of recent years and problems of other sailing charities I consider that where we stand today to be a very good achievement. MIKE WOOD MBE CHAIRM OTHER WORKING NAMES- RoRo Sailing Project (RoRo), Dinghies 4 Disabled (D4D} and The Children's . Catamaran Project. OBJECTIVES AND ACTIVITIES- SIGNIFICANT AcfiviTIES PROJECT I - THE RoRo SAILING PROJEcf (wheelchair accessible yachts) - The DSA designed, built and operate the world's only yachts that can be sailed by any type of disability, without assistance, including wheelchair users. 2023 has again been a very busy season. Our day sails program was delivered in partnership with The Gwennili Trust and included members of 23 other organisations with:_ SPIRIT OF scorr BADER - {thank you Scott Bader Resin Company) alone providing active days on the water including the Round the Island Yacht race- Royal Victoria Sailing Club Open Day - Rotarians Kids Day Out, a5 examples. VERITY K - (thank you Scott Bader Resin Company) is now back in Port Solent Marina for refitting and renovation. PROJEcf 2- DINGHIES FOR DISABLED ID4D) The DSA design, bulld and operate sailing dinghies that cannot capsize or sink. At this time, we have 20 dinghies available for members to use free of charge and more are being built. SPANISH SAILING FACILif( - is still suspended waiting for a new Marina Management Company to take over and the boats Used there are In safe storage. PROJECT 3- CHILDRENS CATAMARAN -The Multihull Centre in Cornwall, the highly respected and experienced catamaran designer and builder of Dazcats, has presented design that is in construction at present. TYPICAL ACTIVITIES - to promote motlvation, pride, dignlty, adventure and of course fun for any disability and any age able to take an active part in activities because of purpose designed facilities. 130 u£r THANKS - The DSA is very grateful for the support and credibility given by our Vice-Patrons, a number of 6enerous individuals and companies and the UK Grant Making Trusts. There are a number supporters who wish recognition in this report . Aviva Community Fund Awards for AII/National Lottery Community Fund Bally Thomas Charitable Fund Boshier-Hinton Foundation David Family Foundation Hampshire and Isle of Wight Community Fdn Henry Smith Charity John R Murray Charitable Trust Local Giving Magic Little Grants Shipwrights Charitable Fund Sport England Tara Getty Foundation Whirlwind Charitable Trust FUND RAISING - has been just sufficient to meet our needs but is becoming more difficult as the world and domestic events grab the headlines and peoples sympathies. PUBLIC 8ENEFIT - The DSA achieves its objectives with various 'projects' and in doing so provides recreational facilities for disabled people. I confirm that I have paid due regard to the Charity Commission 8uidance on public benefit when deciding the DSA activities. GRANT MAKING - The DSA does not provide grants for individuals. RISK ASSESSMENT- the DSA regularly reviews risks to which it is exposed, and has Policies in place. INVESTMENT POLICY - there are no investments as the DSA does not have spare funds. STRucfuRE, GOVERNANCE AND MANAGEMENT- Governing document, the charity is controlled byits governing document, a deed of trust and constitutes an unincorporated charity. REFERENCE AND ADMINISTRATIVE DETAILS - Registered Charity number 1028993 (1993) PRINCIPAL ADDRESS- DSA, 53 Wych Lane, Gosport, Hampshire, P013 OTA. TRUSTEES M L Wood Chair D K Bullen D J Muffett T S Skeels-Piggins INDEPENDENT EXAMINER- P A Nicholls M8E MAAT, 5 Nursery Road, Havant, Hants, P09 3BG APPROVED BY THE TRUSTEES ON AND SIGNED ON ITS BEHALF BY: M L Wood MBE - Trustee Date 25 April 2025 Independent Examiner's Report to the Trustee of the Disabled Sailors Association. Registered Charity No. 1028993 I report to the trustees on my examination of the accounts of the Disabled Sailors Association for the year ended 31 December 2024. Respective responsibilities of trustees and examiner As the charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Aci 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying7 Out my examination I have followed all the applicable Directions given by the Clidrity Commission under section 145(5)(b) ot.the Act. ThL charity's gross income exceeded £250.000 and l am qualified to undertake the examination by being a licenced member ot'the Association ot" AccountingF Technicians. Independent examiner's statement T hav¢ Lompleted my examination; I confirm that no material matters have come to my attention which gives me cause io believe that in any material respect: The accounting records were not kept in accordance with section 130 of the Charities "I"he accounts did not aL'cord with the accounting7 records: or "I'he acLounts did not comply with thL appliLablL requirements concerning7 the form and Lontent ol'the aLcounts set out in the Charilies (Accounts and Reports) Rebyulalions 2008 other than in any requirement that the uccounts gjive a "true and fair" view whiLh is not a matter LonsidLrLd as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to bc reached. P A Nicholls MBE MAAT 5 Nursery Road Havant Hanls P09 3BG 25 April 2025 DISABLED SAILORS ASSOCIATION Charity Registration Number 1028993 BALANCE SHEET 31-Dec-24 ASSETS nr651ri Res Fun Note Fixed Asse Trust Propety Totsl Fixed Assets £ 108.700 £ 108,700 £ 108,700 £112,000 £ 108,700 £ 112,600 Current Assets Debtors & Prepayments Bank Accounts Total Current Assets £ 28,552 £ 13.040 £ 41.593 28,552 £ 318,896 £ 347,449 £ 2,271 £288,531 £290,741 £ 305,856 £ 305,856 LIABILITIE urrent Liabiliti Creditors £ 15,630 £ 15,630 £ 295,540 £ 295,540 £ 311,170 £ 311,170 £ 3,620 Total Current Liabilities £ 3,620 Net Current Assets £ 25,963 £ 10,316 36,279 £287, 121 Net A886ts 134,663 £ 10,316 £ 144.979 £399,721 Approved by the Trustees on 25 April 2025 M Wood MBE D$AD￿248$￿j￿4D￿AlANCE SHEET DISABLED SAILORS ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES For year ended 31 December 2024 Income from: Donations & Legacies VAT Refunds £ 27,500 £ 8,149 £ 597,335 £ 624,835 6,688 £ 14,836 £ 280.000 10.608 Total Income £ 35,649 £ 604,023 £ 639,671 £ 290.608 Expendlture on Charitable Activities Raising Funds £ 76,950 £ 17.677 £ 742,627 £ 819,577 £ 57,160 £ 74,837 197,490 39,788 Totsl Expenditure 3 £ 94,627 £ 799,787 £ 894,414 237,278 Net Gain or (Loss) £ (58,978) £ (195,764) £ (254,7421 53,330 Transfer £ 50,000 £ (50.000) Net Movement in Funds £ {8,978) £ (50.000) £ (195,764) £ (254,7421 53,330 Total Funds Brought Forward £ 121,241 £ 50,000 £ 228,480 £ 399,721 £ 346,391 Total Funds Carried Forward £ 112.263 £ 32.716 £ 144,979 £ 399,721 DSADÈc24BSV4NDSOFA SUM Notes to the Accounts dated 31 December 2024 Note 1- AccountSng pollcles The financial statements are prepared under the historic cost convention las modified by the revaluation of fixed asset investments) and in accordance with applicable accounting standards: Charities Statement of Recommended Prath'ce 2019 and the provisions of the Charities Acts. Significant policies adopted are.. Income Donations are included in the Ststement of Financial Activities (SOFA) when the recipient becomes entitled to the donation or grant and it is reasonably certain that it will be received. Income is reported gross in the SOFA but intangible income is not included. The Trust receives unpaid volunteer help but this is not included in the accounts. Expenditure Liabilities are recognised as soon as there is a legal or constructive obligation committing the Trust to the expenditure. Assets Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £1.500. They are valued at cost or a reasonable value on receipt. b. The yachts are maintained by a programe of repair and replacement and have reached a residual value. Motor vehicles and equipment are depreaated straight line over their expected life. Note 2 - Incomo haritable Ac ivi ie Donations and Legacies Other Income VAT Refunds Total Income nrestricted Restricted Total 27,500 £ 597,335 £ 624,835 £ 276,815 3,185 10.608 £ 290, 608 8,149 £ 6,688 £ 14,836 35,649 £ 604,023 £ 639,671 Note 3 - Expendlturn haritable Activities Dinghies for Disabled (Restricted) RoRo Sailing (Restricted) Children's Catamaran (Restricted) Apprentice (Restricted) Governance Costs Independent Examination AGM Support Costs General Expenses SecretariallB¢)ok Keeping Insurance Telephone Costs Postage Fuel Marketing Public Relations Equipmenvwheelchairs Bank Charges Depreciation £ 82,630 £ 82.630 £ 340,272 £ 340.272 £ 288,420 £ 288.420 632 £ 632 74,344 89.070 11,788 200 600 £ 800 T50 667 63,857 £ 63,857 750 £ 2,250 £ 3,000 1,768 £ 5,687 £ 7,455 342 £ 978 £ 1,321 1,472 2,830 7,882 547 512 270 £ 3,281 £ 3,551 3,535 £ 11,432 £ 14,967 3,535 £ 11,432 £ 14,967 5,748 £ 17,243 £ 22.990 115 634 £ 749 3,900 £ 3,900 84,020 £ 765.491 £ 849,511 2,006 1,043 808 3, 770 197,490 Raisin Funds Fundraising 10.606 £ 34,296 £ 44,902 39, 788 Total Expenditure 94,627 £ 799,787 £ 894,414 434, 767 Note 4- Tangible Fixed Assets Yachts 99,700 Rib £ 12,000 3,000 £ 9.000 ui ment Vehicles 400 £ 500 400 500 Propety Valuation as at 1 Jan 24 Less Depreciation Property Valuation as at 31 Dec 24 99,700 Noto S - Mlscellaneous Debtorn HMRC - VAT Refund 4,052 Unrestricted Grants (Received Jan 251 £ 24.500 28.552 Note 6 - Credltorn MultiHull Fundraising Gas Electricity PNIE - Examination Fees £ 250,000 59,920 300 150 800 £ 311,170 Note 7 - Endowment or Restrlcted Income Fund• There are four Restricted Funds with bank holdings at 31 Dec 24 of.. Children, Catarmaran RORO Sailing Project Dinghies for Disabled Apprenticas 26,993 4,195 1,528 32,716 Fund raising and administration costs are apportioned to the to the restricted and general funds in addition to the direct expenses reported in Note 2. Note 8 - Statement of Funds at1Jan24 Income Expenditure 8131 Dec 24 Property £112.600 (3,900) £ 108,700 General £ 58,641 £35,649 £ (90,727) 3,563 Childrens'cat £215,250 £376.540 £ {564.79T) 26,993 RoRo £ 2,678 £116,948 £ (115,431) 4,195 Dinghies £110,535 £ (109,oon 1.528 Apprentices. £ 10,552 (10.552) £399.721 £639.671 £ {894.414) £ 144,979 ApprentI￿S fund subsumed into Ro Ro Fund. Note 9 - Trustees and Other Related Partles No payments were made to the trustees or any persons connected to them during this financial period, other than for reimbursement for expenditure on behalf of the trust paid by the trustees. Noto 10 - Other Inforniation The fund does not have any material commitments not provided for in the accounts. The fund has not given any guarantees to any third party that could be called on at the year end. The fund has not granted any loans. The fund did not make any ex gratia payments during the year. Declaratlons The Trustees have not changed the year end date nor the length of the fund's financial year. All the fund's operations are continuing operations and no operations have been discontinued. No funds are in deficit. Tho fund has no marketable intangible assets None of the funds functional assets have been revalued during the year and the fund does not have a policy of revaluation of these assets. The fund has no material fixed assets which have not been capitalised and included in the 8al•hC• Sheet.