2021-10-31-accounts

ADVENTURES OFFSHORE Charity Number: 1035015

ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2021

ADVENTURES OFFSHORE

CONTENTS FOR THE YEAR ENDED 31 OCTOBER 2021

	Page
Trustees' report	1 - 8
Independent Examiner's Report	9
Statement of Financial Activities	10
Detailed Profit and Loss Account	11
Balance Sheet	12
Notes to the financial statements	13 - 17

Trustees’ Annual Report for the period

From: 1 November 2020

To: 31 October 2021

Charity name: Adventures Offshore

Charity registration number: 1035015

Objectives and activities

	SORP ref.
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The purpose of Adventures Offshore is to provide young people an opportunity to obtain and develop transferrable life skills that will contribute to their personal development and enable them to thrive in society.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Use sailing as a medium to enhance young people’s sense of purpose and self-esteem, not just to teach them to sail. Create opportunities for personal development in a safe but physically challenging environment and to encourage initiative and leadership skills. Provide the basis for a communal experience on board ship in which teamwork and co-operation are at least as important as self-reliance and individual fortitude. Develop the values of_Integrity_,Respect,_Care_and _Cooperation_amongst our beneficiaries and to encourage understanding and tolerance of_Beliefs_and ideas that may not coincide directly with their own.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	Adventures Offshore meets the Charity Commission's public benefit criteria under both the advancement of education and the advancement of citizenship or community development headings.

Achievements and performance

	SORP ref.
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	Despite restrictions on capacity and social distancing practices, the charity enabled young beneficiaries to spend 589 nights at sea. The beneficiaries learned the values of teamwork, tolerance and fortitude in a challenging environment. These are life skills that will help them integrate and make a greater contribution to society as a whole. Eight people managed to successfully undertake expeditions for their DofE Gold awards. Other beneficiaries have joined our young sea staff training scheme, which will enable them to provide similar experiences to future beneficiaries.

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Financial review

	SORP ref.
Review of the charity’s financial position at the end of the period	Para 1.21	Summary In the three years to 2018/19, the organization achieved consecutive years of growth and improved financial performance, with income more than doubling from £66k to £135k. Then Covid-19 hit, with the outcome and sailing was halted as a result, which led to a deficit of £47k in 2019/20. The result for the latest 2020/21 season was a surplus of 53k. The organization continued to be negatively impacted by Covid-19, but not as much as the prior season. Covid-19 restrictions prevented sailing during the first part of the season, however they were lifted sufficiently for sailing to resume during the key summer season and the trustees focused on delivering as many voyages for young people as possible, resulting in an uplift in voyage income. The organization also benefitted from generous Covid-19 support grants from ASTO and the Government. It was not known whether the country would face further lockdowns, so the trustees continued to protect the charity as a going concern by minimising discretionary expenditure, but also ensuring that the boats were well maintained for the subsequent season. This prudent approach and the generosity of donors means that the organisation is in a good financial position given the current environment. Income Total income in 2020/21 of £155k was £72k better than last year (2019/20: £83k) and also better than pre-covid (2018/19: £138k). Covid-19 restrictions lifted enough for some sailing to resume, with cruise fees increasing to £45k (2019/20: £2k), although still lower than pre-covid (2018/19: £69k). Grants and donations increased to £69k (2019/20: £67k). A second ‘Lifeboat’ grant of £26k was received from the Association of Sail Training Organisations to help us weather the Covid-19 storm (2019/20: £26k). £20k of grants were received for our Maritime Pathways and Training Scheme (2019/20: £nil), of which half was held in deferred income on the balance sheet at 31 October 2020. Completion of scheme delivery is planned for the 2022/23 season. £19k of donations were received from members, which was topped up by £4k recovery of gift aid. Other donations included the Hammond Innes Bursary (£4k) and a donation from Shipwrights (£4k). £20k of support towards salaries of £44k was received from the government’s Coronavirus Job Retention Scheme (2019/20: £13k). £21k of business support grants were received from Colchester Borough Council (2019/20: £nil).

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		Expenditure Discretionary expenditure was minimised in order to ride out the pandemic. Equipment, repairs and maintenance were £12k better than last year due to the one-off replacement of an engine in the prior year. Excluding the engine, maintenance costs have remained relatively constant thanks to favourable rates from suppliers and cost control by the refit-team. Volunteer expenses were £5k worse than last year, due to the resumption of sailing. Insurance was £9k better than last year, due to an over-accrual in the prior year. Balance Sheet The balance sheet remains strong. The organisation wholly owns the two boats and the long-term leasehold on the office space, whilst continuing to operate without any loans, mortgages, or other long-term liabilities. Cash reserves increased by £71k (2019/20: £13k decrease) during the year due to the resumption of sailing and Covid-19 support grants received from ASTO and the Government. The balance of £155k is considered enough for the organisation to meet its financial commitments even if sailing is prohibited for another twelve months.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The trustees aim to ensure that the charity works within its means and maintains a prudent level of reserves, sufficient to allow it to withstand unforeseen operational issues or cash flow disruption. An updated cash reserves policy was agreed by the trustees during 2018/19. Restricted cashreserves exist to allow Offshore to offer funding assistance to beneficiaries without having to guarantee that a donation or grant has been secured in advance. As most of Offshore’s funding arrangements are single year deals, the trustees consider it prudent to hold between 60% and 80% of a typical season’s donation income in reserves. This ensures that commitments can be reduced in an orderly manner if donations materially reduce. Free cash reservesexist to allow Offshore to meet short-term and emergency funding needs. Free cash reserves are calculated as the total of cash and liquid investments, less restricted cash reserves. The charity owns two high value fixed assets (the boats) and reserves are required to pay for unforeseen repairs. Single equipment items can cost over £20k to replace. Free reserves are also required to mitigate the risk of a significant period of booking cancellations and lost income. This is most likely to be due to major unforeseen repairs which take time to carry out, but could also be due to extreme weather, government travel advice or an epidemic disease. Noting the significant risk of simultaneously having to repair the boats and cancel bookings, the trustees consider it is appropriate to hold the full cost of winding up the charity (estimated at £30,000) plus 75% to 100% of annual cruise fee income in reserve. The actual reserves of £74,315 at 31 October 2020 are lower than the lower limit, however they exceed the full cost of winding up the charity. The trustees are activelymonitoring the

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		reserves with the aim of building them back up to within the target limits
Amount of reserves held	Para 1.22	The table below compares Offshore’s actual reserves at 31 October 2021 to the range set out in the reserves policy. Free cash reserves £ Restricted cash reserves £ Upper Limit 104.628 38,258 Lower Limit 85,971 28,694 Actual Reserves 134,057 (2019/20: 74,315) 52,576 (2019/20: 35,657)
Reasons for holding zero reserves	Para 1.22	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	Overall, the trustees consider that the charity has sufficient available financial resources to support operations for the coming financial year. As such, the trustees believe that the charity is a going concern and have prepared the accounts on that basis.
Details of fund materially in deficit	Para 1.24	N/A

Additional information (optional)

	SORP ref.
Investment policy and objectives including any social investment policy adopted	Para 1.46	Free Reserves The free reserves are held as cash in accounts with minimal notice periods for withdrawal. Although the returns available in such accounts are poor, the trustees have assessed the risks we face and believe that it is necessary to be able to make immediate calls on the whole reserve fund. Bursary Fund Circa 50% of the bursary fund is invested in the COIF Charities Ethical Investment fund, managed by CCLA Investment Management. This is a diversified fund, investing circa 50% in overseas equities, 20% in U.K. equities, and the remainder distributed equally across other asset classes. The Trustees do not anticipate calls on this fund in the near term. The remaining bursary funds are held as cash in an immediate access current account.
A description of the principal risks facing the charity	Para 1.46	The trustees have identified the major risks to which they believe the organisation is exposed; these have been reviewed and systems have been established to mitigate against them. The main areas of concern that have been identified are: Accident at sea: Sea staff are fully qualified, there are regular training days and a comprehensive set of manuals and processes that are continuously reviewed and monitored to manage safety at sea. The organisation has a marine accident insurance policy with Navigators & General.

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		Significant vessel breakdown: There is an ongoing regime of continuous maintenance refit inspections and planned replacements and stock of common parts. Crew shortage: The charity is dependent upon the goodwill of unpaid volunteers. There is an ongoing programme of training young people (Young Sea Staff Scheme). Older volunteers are continually recruited by word of mouth. Interruption to voyage income: Example causes include vessel breakdown, crew shortage, statutory suspension due to pandemic, etc. Active financial management and the reserves policy mitigate this risk for a substantial period. Reduction in grant and bursary income: The reserves policy enables temporary respite to a short-term dip. The organisation works closely with existing and potential supporters to try to align our activities with their specific and targeted aims, where they fit with our own charitable objectives.
The charity’s principal sources of funds (including any fundraising)	Para 1.47	Principal sources of income in a normal year are voyage fees and grants and bursaries from external bodies. See the financial review above for the specific 2020/21 year.

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Structure, governance and management

Description of charity’s trusts:	SORP ref.
Type of governing document (trust deed, royal charter)	Para 1.25	The governing document is the Scout Association Royal charter of 1914 as amended in 1953, 1984 and 1999.
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Adventures Offshore is an unincorporated association registered as an educational charity (No. 1035015).
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	The Trustees are appointed in accordance with the Policy, Organisation and Rules of The Scout Association.

Additional information (optional)

	SORP ref.
Policies and procedures adopted for the induction and training of trustees	Para 1.51	Trustees complete 'Essential Information for Executive Committee' training within the first 5 months of being appointed.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	The organisational structure consists of a board of trustees, primarily responsible for governance, that has delegated limited powers necessary for the day-to-day activity to subject matter experts via Operations, Finance and TSE (Training, Safety & Ethics) committees.
Relationship with any related parties	Para 1.51	Although it has only adult members, the organisation is recognised as a “district” as part of “Essex County” within The Scout Association.

Reference and administrative details

Charity name	Adventures Offshore
Other name the charity uses	Offshore
Registered charity number	1035015
Charity’s principal address	Adventures Offshore Tolken, The Lane West Mersea Colchester Essex CO5 8NT

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Names of the trustees who manage the charity

Executive Trustee name	Office	Role in The Scout Association	Name of person or body entitled to appoint trustee
Adrian Slim1	Chair		District Commissioner
Andrew Black2	Chair		District Commissioner
Freddie Crane	Trustee (Elected) & Interim Treasurer		AO Membership
John Raine3	Trustee (Elected)		AO Membership
Kevyn Connelly4	Trustee (Nominated)	District Commissioner	Essex County Scout Executive
Mark Gowers	Trustee (Elected)		AO Membership
Mark Rendle	Secretary		AO Membership
Paula-Anne Deighton5	Trustee (Nominated)	Deputy District Commissioner	District Commissioner
Richard Pattison6	Trustee (Nominated)	Acting District Commissioner	Essex County Scout Executive
Stephen Edwards7	Treasurer		AO Membership
Steven Roys8	Trustee (Elected)		AO Membership

Notes:

1. Adrian Slim resigned as Chair on 19 March 2022 but remained a Trustee.

2. Andrew Black was appointed as Chair on 30 March 2022.

3. John Raine resigned as a Trustee on 25 October 2021.

4. Kevyn Connelly was appointed on 8 March 2021.

5. Paula-Anne Deighton was appointed on 8 March 2021.

6. Richard Pattison resigned on 8 March 2021.

7. Stephen Edwards was appointed on 10 January 2022.

8. Steven Roys was appointed on 9 November 2020.

Names of trustees holding title to asset belonging to the charity

Custodian Trustee name Peter Camper Bernard Meadows

Funds held as custodian trustees on behalf of others

Description of the assets held None in this capacity

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Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Full name	Office	Signature	Date
Andrew Black	Chair		26/04/2023
Stephen Edwards	Treasurer		26/04/2023

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ADVENTURES OFFSHORE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2021 I report on Ihe accounts of Adventures Offshore for the year ended 31 October 2021 which are set out on pages 10 to 17. Re3pective responsibilities of trustees and examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charty's Trustees consider that an audit is not required for this year (under section 144 {2) of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to.. Examine the accounts under section 145 of the Charities Act, To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and To state whether particular matters have come to my attention. Basis of independent examinerfs Ststement My examination was carried out in accordance with the General Directions gNen by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent examinarfs statement In the course of my examination, 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 accordan￿ 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 con￿mIng the fonn and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fairf view which is not a matter considered as part of an independent examination. I 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. Shelley-marie Rudling FMAAT AATQB for and on behalf of: Community360 Winsley's House, High Street, Colchester, Essex Date •L Aa 2023

ADVENTURES OFFSHORE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2021

Notes Incoming resources Donations and legacies 2 Investment income 3 Incoming resources from charitable activities 4 Total incoming resources Resources expended 5 Cost of generating funds Cost of generating donations and legacies Charitable activities Sail training scheme expenditure 6 Total resources expended Net (outgoing)/incoming resources Gain on investments 7 Net movement in funds Fund balances at 1 November 2020 Fund balances at 31 October 2021	Unrestricted funds £ 94,631 4 44,820	Restricted funds £ 15,376 - -	2021 2020 Total Total £ £ 110,007 80,486 4 110 44,820 2,039 154,831 82,635 102 2,669 107,611 127,758 107,712 130,426 47,118 (47,790) 5,972 1,240 53,090 (46,551) 236,481 283,032 289,571 236,481
	139,454	15,376
	102 103,181	- 4,430
	103,282	4,430
	36,172 -	10,946 5,972
	36,172	16,918
	200,824	35,657
	236,996	52,575

The notes on pages 13 - 1 7 form an integral part of these financial statements.

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ADVENTURES OFFSHORE

DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2021

Income Donations and gifts Cruise fees Sundry sales and courses Annual scheme dinner receipts CJRS scheme Covid grants Interest receivable Expenditure Salaries Equipment, sails, repairs and maintenance Food, fuel and cruise expenses Travel expenses Insurance - boat and travel net Insurance - general Rates, light and heat Administration Annual scheme dinner expenditure Fundraising expenses Bank charges Net operational (deficit)/surplus before depreciation Depreciation Gain on investments Surplus/(deficit) for the year after depreciation	£ £ £ £ 69,110 67,328 44,820 1,646 - 273 - 120 20,274 13,158 20,622 - 4 110 154,831 82,635 44,074 45,712 23,458 35,227 8,578 8,661 7,251 2,388 1,705 6,996 295 3,464 (86) 972 5,267 7,110 - 98 102 2,669 288 348 , 90,930 113,644 (90,930) (113,644) 63,900 (31,008) (16,782) (16,782) 5,972 1,240 53,090 (46,551) 2021 2020	£ £ £ £ 69,110 67,328 44,820 1,646 - 273 - 120 20,274 13,158 20,622 - 4 110 154,831 82,635 44,074 45,712 23,458 35,227 8,578 8,661 7,251 2,388 1,705 6,996 295 3,464 (86) 972 5,267 7,110 - 98 102 2,669 288 348 , 90,930 113,644 (90,930) (113,644) 63,900 (31,008) (16,782) (16,782) 5,972 1,240 53,090 (46,551) 2021 2020
		82,635 (113,644)
	90,930
		(31,008) (16,782) 1,240
		(46,551)

The notes on pages 13 - 17 form an integral part of these financial statements.

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ADVENTURES OFFSHORE

BALANCE SHEET AS AT 31 OCTOBER 2021

Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Investments Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets Funds Restricted funds 14 Unrestricted funds	£ £ 124,647 2,836 31,678 154,956 189,469 (24,545) 164,924 289,571 289,571 52,575 236,996 289,571 2021	£ £ 141,429 7,830 25,705 84,267 117,803 (22,750) 95,053 236,481 236,481 35,657 200,824 236,481 2020	£ £ 141,429 7,830 25,705 84,267 117,803 (22,750) 95,053 236,481 236,481 35,657 200,824 236,481 2020
			236,481
			236,481
			35,657 200,824
			236,481

The accounts were approved by the trustees on …… 28/04/2023 …………………….

Signed Signed	Date A Black - Chairman Date S Edwards - Treasurer	28/04/2023
		28/04/2023

The notes on pages 13 - 17 form an integral part of these financial statements.

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ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

1 Accounting policies

1.1 Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow statements".

1.2 Incoming resources

Donations, legacies and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement. Voluntary income also includes income tax recoverable.

The charity receives the benefit of work carried out by volunteers, and receives the use of facilities and equipment without charge. No value is placed on these items.

Revenue grants are credited to the income and expenditure account as received unless related to a specific purpose, when they are placed in restricted funds until used.

1.3 Resources expended

Expenditure is included in the accounts on an accruals basis.VAT is recoverable by the charity and is included with the expenditure to which it relates.

Support costs which could not be attributed directly to activities are apportioned equally between activities.

1.4 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold land is not depreciated Freehold buildings 2% straight line Yachts 3% straight line Office equipment/Other equipment 20% straight line

1.5 Taxation

The organisation is a registered charity and, as such is exempt from corporation tax.

1.6 Investments

Realised gains and losses are taken to the Income and Expenditure Account. Investment income has been taken in to account on the basis of the due date of payment.

Short term investments shown within current assets are invested in COIF Funds Accumulation Units and are included at market value at the year end. The difference from the value at the start of the period is reflected in unrealised profit and loss during the year.

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ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

1.7 Foreign currency translation

Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in net outgoing resources.

2 Donations and legacies Donations and gifts Grants CJRS Scheme 3 Investment income Interest receivable 4 Incoming resources from charitable activities Cruise fees Sundry sales and courses Annual scheme dinner receipts 5 Total resources expended Staff Depreciation costs £ £ Costs of generating funds Costs of generating donations and legacies - - Charitable activities Sail training scheme - expenditure Activities undertaken directly 44,074 16,782 Grant funding of activities - - 44,074 16,782 6 Grants payable Sail training scheme expenditure Engine repair	Unrestricted Funds £ 53,734 20,622 20,274 94,631 Unrestricted Funds £ 4 4 Unrestricted Funds £ 44,820 - - 44,820 Other costs £ 102 42,325 - 42,426	Restricted Funds £ 15,376 - 15,376 Restricted Funds £ - - Restricted Funds £ - - - - Grant Funding £ - - 4,430 4,430	2021 Total £ 69,110 20,622 20,274 110,007 2021 Total £ 4 4 2021 Total £ 44,820 - - 44,820 2021 Total £ 102 103,181 4,430 107,712 2021 £ 4,430 - 4,430	2020 Total £ 67,328 - 13,158
				80,486
				2020 Total £ 110
				110
				2020 Total £ 1,646 273 120
				2,039
				2020 Total £
				2,669
				109,590 18,168
				130,426
				2020 £ 4,233 13,935
				18,168

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ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

7 Gain on investments COIF Investment fund - bursary	2021 £ - -	2020 £ 1,240
		1,240

8 Trustees

None of the trustees received any remuneration during the year, but some of the trustees were reimbursed a total of £4,011 for travelling, office and cruise expenses (2020 £767.87).

Trustee insurance was paid for in the year totalling £235.09 for the financial year.

9 Employees

Number of employees

The average monthly number of employees during the year was:

Full time employees Part time employees Total Employment costs Wages and salaries	2021 Number - 2 2 2021 £ 44,074	2020 Number - 3
		3 2020 £ 45,712

There were no employees whose annual remuneration was £60,000 or more.

10 Key management personnel

During the year, total remuneration of £33,444.96 (2020 £19,514.70) was paid to key management personnel. The remuneration of key management personnel is decided upon and authorised by the trustees.

11 Tangible fixed assets Cost At 1 November 2020 Additions Disposal At 31 October 2021 Depreciation At 1 November 2020 Charge for the year Disposal At 31 October 2021 Net book value At 31 October 2021 At 31 October 2020	Land and buildings £ 50,000 - - 50,000 24,833 1,000 - 25,833 24,167 25,167	Yachts £ 478,624 - - 478,624 366,633 14,359 - 380,992 97,632 111,991	Office equipment £ 524 - - 524 524 - - 524 - -	Other equipment £ 7,117 - - 7,117 2,846 1,423 - 4,269 2,848 4,271	Total £ 536,265 - -
					536,265
					394,836 16,782 -
					411,618
					124,647
					141,429

The building 'Tolken' was last valued by the trustees as at 1 January 1996 at £50,000.

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ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

12 Debtors Other debtors Prepayments and accrued income 13 Creditors: amounts falling due within one year Other creditors Deferred income Accruals	2021 £ 1,661 1,175 2,836 2021 £ - 23,704 841 24,545	2020 £ 6,878 952
		7,830
		2020 £ 691 17,516 4,544
		22,750

14 Restricted Funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.

Balance at 1 Income ExpenditureGains/losses November on 2020 investments £ £ £ £ Bursary fund 32,857 15,376 (4,430) 5,972 Young vol. training 2,800 - - - 35,657 15,376 (4,430) 5,972 Movements in funds	Balance at 31 October 2021 £ 49,775 2,800
	52,575

15 Related parties

During the year, there were no related parties.

16 Going concern

The charity is operating on a going concern basis.

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ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

17 Previous Year Statement of Financial Activities

Incoming resources Incoming resources from generating funds: Donations and Legacies Investment Income Incoming resources from charitable activities Total incoming resources Resources expended Cost of generating funds Cost of generating Donations and Legacies Charitable Activities Sail Training Scheme Expenditure Total resources expended Net outgoing resources Other recognised gains and losses Previous year adjustments Gains (Losses) on investment assets Net movement in funds Fund balances at 1 November 2019 Fund balances at 31 October 2020	Unrestricted funds £ 64,948 110 2,039	Restricted funds £ 15,538 - - 15,538 - 18,168 18,168 (2,630) - 1,240 (1,390) 37,047 35,657	2020 Total £ 80,486 110 2,039
	67,097		82,635
	2,669 109,590		2,669 127,758
	112,258		130,426
	(45,161) - -		(47,791) - 1,240
	(45,161) 245,985		(46,551) 283,032
	200,824		236,481

This note shows you the statement of financial activities as it was in the accounting year 31 October 2021 for comparative purposes.

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