2025-12-31-accounts - The Disabled Sailors Association

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REPORT OF THE TRUSTEES AND INDEPENDENTLY EXAMINED ACCOUNTS FOR THE DISABLED SAILORS ASSOCIATION (DSA) FOR THE YEAR END 31 DECEMBER 2025 Registered charity number: 1028993 since 1993

Report of the Trustees 1 to 3 Independent Examiner's Report 4 Balance Sheet 5 Statement of Financial Activities 6 Notes to the Financial Statements 7 to 9

REPORT OF THE TRUSTEES FOR 2025

The Trustees present their report with the financial statements of the DSA for the year ended 31 December 2025. The Trustees are required to adopt the provisions of Accounting and Reporting of the Charities Statement of Recommended Practice 2026 and the various Charities Acts.

FINANCIAL REVIEW - An Independent Examiner using the requirements for financial reporting of the Charities Acts and Charities SORPs reports that:

The fund received £774.7K in donations/VAT refunds and spent the bulk, £762.8K, on its projects (see below) and the necessary professional fundraising costs. This allowed the fund to increase its worth by £11.9K over the year to £156.9K. However, the bulk, £116.7K, was represented by property assets such as vehicles purchased in ’25. (The yachts and dinghies are not considered to be property assets.) Since the new catatmarans’ project inception, a total of £887K has been paid to the Multihull Centre towards the construction of the new DSA Dazcat Catamaran. In addition, Scott Bader Resins and Airtech Advanced Materials UK have sponsored the project with parts and materials valued at approximately £350K to date. The trustees prioritise spending on supporting projects rather than on accumulating funds hence the bank balance was just £8.4K at year end. However, donations totalling £16.3K arrived in Jan 26.

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.

Signed on Original

MIKE WOOD MBE CHAIRMAN

OTHER WORKING NAMES - RoRo Sailing Project (RoRo), Dinghies 4 Disabled (D4D) and the DSA Dazcat (Children's Catamaran Project).

OBJECTIVES AND ACTIVITIES - SIGNIFICANT ACTIVITIES

PROJECT 1 - THE RoRo SAILING PROJECT (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. 2025 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 SCOTT 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, as examples.

VERITY K - (thank you Scott Bader Resin Company) is now back in Port Solent Marina for refitting and renovation.

PROJECT 2 - DINGHIES FOR DISABLED (D4D) The DSA design, build 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 FACILITY - 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 a design that is in construction at present.

TYPICAL ACTIVITIES - to promote motivation, pride, dignity, adventure and of course fun for any disability and any age able to take an active part in activities because of purpose designed facilities.

THANKS - The DSA is very grateful for the support and credibility given by our Vice-Patrons, a number of generous individuals and companies and the UK Grant Making Trusts. There are a number supporters who wish recognition in this report :-

Aviva Community Fund John R Murray Charitable Trust Awards for All/National Lottery Community Fund Local Giving Baily Thomas Charitable Fund Magic Little Grants Boshier-Hinton Foundation Shipwrights Charitable Fund David Family Foundation Sport England Hampshire and Isle of Wight Community Fdn Tara Getty Foundation Henry Smith Charity 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 BENEFIT - 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 guidance 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.

STRUCTURE, 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, PO13 0TA.

TRUSTEES

M L Wood Chair

D K Bullen

D J Muffett

T S Skeels-Piggins

P Bastiaens

S Robinson

INDEPENDENT EXAMINER - P A Nicholls MBE MAAT, 5 Nursery Road, Havant, Hants, PO9 3BG

APPROVED BY THE TRUSTEES ON AND SIGNED ON ITS BEHALF BY:

Signed on Original

M L Wood MBE - Trustee

Date 1 March 2026

DISABLED SAILORS ASSOCIATION

Charity Registration Number 1028993

BALANCE SHEET

31-Dec-25

ASSETS Note Fixed Assets Trust Property 4 Total Fixed Assets Current Assets Debtors & Prepayments 5 Bank Accounts Total Current Assets LIABILITIES Current Liabilities Creditors 6 Total Current Liabilities Net Current Assets Net Assets	General Funds 116,660 £ 116,660 £ - £ 8,386 £ 8,386 £ 1,600 £ 1,600 £ 6,786 £ Unrestricted		Restricted Funds - £ - £ 33,480 £ - £ 33,480 £ - £ - £ 33,480 £ 33,480 £	Total 116,660 £ 116,660 £ 33,480 £ 8,386 £ 41,866 £ 1,600 £ 1,600 £ 40,266 £ 156,926 £	31-Dec-24 108,700 £
					108,700 £ 28,552 £ 318,896 £
					347,449 £
					311,170 £
					311,170 £ 36,279 £
	123,446 £				*144,979* £

Approved by the Trustees on 1 March 2026

Signed on Original

M Wood MBE

DSADec25BSNDBALANCE SHEET

DISABLED SAILORS ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES

For year ended 31 December 2025

Income from: Note Donations & Legacies VAT Refunds Total Income 2 Expenditure on Charitable Activities Raising Funds Total Expenditure 3 Net Gain or (Loss) Net Movement in Funds Total Funds Brought Forward Total Funds Carried Forward	Unrestricted General Funds 14,350 £ - £ 14,350 £ 6,822 £ - £ 6,822 £ 7,529 £ 7,529 £ 112,263 £ 119,792 £	Restricted Funds 716,035 £ 44,366 £	Total 730,385 £ 44,366 £ 774,751 £ 661,293 £ 101,510 £ 762,804 £ 11,947 £ 11,947 £ 144,979 £ 156,926 £	Year to Dec 24 624,835 £ 14,836 £
		760,401 £ 654,472 £ 101,510 £		639,671 £ 819,577 £ 74,837 £
		755,982 £ 4,418 £ 4,418 £ 32,716 £		894,414 £ (254,742) £ (254,742) £ 399,721 £
		37,134 £		*144,979* £

DSADec25BSNDSOFA SUM

Notes to the Accounts dated 31 December 2025

Note 1 - Accounting policies

a. The financial statements are prepared under the historic cost convention (as modified by the revaluation of fixed asset investments) and in accordance with applicable accounting standards: Charities Statement of Recommended Practice 2026 and the provisions of the Charities Acts. Significant policies adopted are:

Income

a. Donations are included in the Statement of Financial Activities (SOFA) when the recipient becomes entitled to the donation or grant and it is reasonably certain that it will be received.

b. Income is reported gross in the SOFA but intangible income is not included.

c. The Trust receives unpaid volunteer help but this is not included in the accounts.

Expenditure

a. Liabilities are recognised as soon as there is a legal or constructive obligation committing the Trust to the expenditure.

Assets

a. 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 depreciated straight line over their expected life.

Note 2 - Income

Charitable Activities Donations and Legacies VAT Refunds Total Income Note 3 - Expenditure Charitable Activities Dinghies for Disabled (Restricted) RoRo Sailing (Restricted) Children's Catamaran (Restricted) Apprentice (Restricted) Governance Costs Independent Examination Support Costs General Expenses Secretarial/Book Keeping Insurance Telephone Costs Report Marketing Public Relations Equipment/wheelchairs Bank Charges Depreciation Raising Funds Fundraising Total Expenditure	Unrestricted 14,350 £ - £ 14,350 £ - £ - £ - £ - £ 200 £ 707 £ - £ - £ - £ - £ - £ - £ - £ 175 £ 5,740 £ 6,822 £ - £	Restricted Total 716,035 £ 730,385 £ 44,366 £ 44,366 £ 760,401 £ 774,751 £ 57,584 £ 57,584 £ 142,799 £ 142,799 £ 345,374 £ 345,374 £ - £ - £ 600 £ 800 £ 28,000 £ 28,707 £ - £ - £ 5,578 £ 5,578 £ 2,140 £ 2,140 £ 4,200 £ 4,200 £ 33,837 £ 33,837 £ 33,837 £ 33,837 £ - £ - £ 524 £ 698 £ - £ 5,740 £ 654,472 £ 661,293 £ 101,510 £ 101,510 £ 755,982 £ 762,804 £	Previous Year 624,835 £ 14,836 £
			639,671 £ 82,630 £ 340,272 £ 288,420 £ 632 £ 800 £ 67,408 £ 3,000 £ 7,455 £ 1,321 £ - £ 14,967 £ 14,967 £ 22,990 £ 749 £ 3,900 £
			849,511 £ 44,902 £
	6,822 £		894,414 £

Note 4 - Tangible Fixed Assets

Note 4 - Tangible Fixed Assets
Property Valuation as at 1 Jan 25 Additions Less Depreciation Property Valuation as at 31 Dec 254	Yachts	Rib Vehicles 9,000.00 £ - £ - £ 13,700.00 £ (3,000.00) £ (2,740.00) £ 6,000.00 £ 10,960.00 £
	99,700.00 £ - £ - £
	99,700.00 £

Note 5 - Miscellaneous Debtors

HMRC - VAT Refund £ 9,480.00 Grants (Received Jan 26) £ 24,000.00 £ 33,480.00 Note 6 - Creditors Gas £ 400.00 Electricity £ 400.00 PNIE - Examination Fees £ 800.00 £ 1,600.00

Note 7 - Endowment or Restricted Income Funds

There are three Restricted Funds with balances at 31 Dec 25 of:

Children' Catarmaran RoRo Sailing Project Dinghies for Disabled	15,219 £ 19,687 £ 2,229 £
	37,134 £

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

Property General Childrens'Cat RoRo Dinghies	at 1 Jan 25 108,700 £ 3,563 £ 26,993 £ 4,195 £ 1,528 £ 144,979 £	Income 13,700 £ 14,350 £ 490,095 £ 209,073 £ 61,232 £	Expenditure at 31 Dec 25 (5,740) £ 116,660 £ (14,782) £ 3,132 £ (501,869) £ 15,219 £ (193,582) £ 19,687 £ (60,531) £ 2,229 £
		788,451 £	(776,504) £ 156,926 £

Note 9 - Trustees and Other Related Parties

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.

Note 10 - Other Information

a. The fund does not have any material commitments not provided for in the accounts.
b. The fund has not given any guarantees to any third party that could be called on at the year end. c. The fund has not granted any loans.
d. The fund did not make any ex gratia payments during the year.

Declarations

a. The Trustees have not changed the year end date nor the length of the fund's financial year.
b. All the fund's operations are continuing operations and no operations have been discontinued.
c. No funds are in deficit.
d. The fund has no marketable intangible assets
e. 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.
f. The fund has no material fixed assets which have not been capitalised and included in the Balance Sheet.

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 2025.

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 Act 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 carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a licenced member of the Association of Accounting Technicians.

Independent examiner’s statement

I have completed my examination; I confirm that no material matters have come to my attention which gives me cause to believe that in any material respect:

The accounting records were not kept in accordance with section 130 of the Charities Act; or
The accounts did not accord with the accounting records; or
The accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than in any requirement that the accounts give a “true and fair” view which is not a matter considered 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 be reached.

Signed on Original

P A Nicholls MBE MAAT 5 Nursery Road Havant Hants PO9 3BG

1 March 2026