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2025-10-31-accounts

ADVENTURES OFFSHORE Charity Number: 1035015

ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2025

ADVENTURES OFFSHORE

CONTENTS FOR THE YEAR ENDED 31 OCTOBER 2025

Page
Legal & Administrative Information 1
Trustees' report 2 - 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Detailed Profit and Loss Account 10
Balance Sheet 11
Notes to the financial statements 12 - 15

ADVENTURES OFFSHORE

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 OCTOBER 2025

Charity number 1035015 Principle Address Tolken The Lane West Mersea Colchester Essex CO5 8NT Lead Volunteer Adrian Slim - Trustee Trustees Mark Gowers - Secretary Paula- Anne Deighton - Trustee Robert Groves - Trustee (resigned 12 June 2025 & reappointed 7 October 2025) Stephen Edwards - Treasurer Mark Rendle - Trustee Andrew Black - Trustee (appointed 18 March 2025) Carol Ramsden - Trustee (appointed 7 October 2025) Independent Examiner Community360 Winsley's House High Street Colchester Essex, CO1 1UG Bankers Barclays

1

Trustees’ Annual Report for the period

From: 1 November 2024

To: 31 October 2025

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 The charity enabled young beneficiaries to spend 963
nights at sea (2023/24: 749). 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. 23 people successfully undertook
expeditions for their DofE Awards (2023/24: 36). Other
beneficiaries have joined our young sea staff training
scheme, which will enable them to provide similar
experiences to future beneficiaries.

Financial review

SORP ref.
Review of the charity’s
financial position at the end
of the period		 Para 1.21 Summary
The result for the latest season was a surplus of £5k
(2023/24: £1k deficit). The improvement on last year
was driven by a 29% increase in nights at sea, mostly
due to the prior year’s sailing season being disrupted
by unplanned boat maintenance.
A notable highlight during the year was the successful
delivery of the new Introduction to Maritime Careers
scheme. The is an evolution of our MPATS scheme
that offers young people with no obvious post-
compulsory education route with some training,
employable qualifications and routes into the work
place. This scheme fully supports our charitable
objective.
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 means that the organisation is
in a good financial position given the current
environment.
Income
Total income of £108k was £7k better than last year
(2023/24: £101k), but remained worse than pre-covid
(2018/19: £138k). Excluding the prior year receipt of
£15k of insurance income relating to the water ingress
incidents, the uplift in total income was £22k.
This was mostly attributable to the £23k increase in
cruise fees to £78k (2023/24: £55k) due to both boats
being out of service for unplanned maintenance for a
significant proportion of the prior sailing season.
Grants and donations were broadly static at £27k
(2023/24: £28k). Bursaries and grants were received
from the Association of Sail Training Organisations, the
TK
Foundation,
and
the
Stelios
Philanthropic
Foundation.
Expenditure
Equipment, repairs and maintenance were £28k better
than last year due to repairs required by the water
ingress incidents during the prior year. Food, fuel and
cruise expenses increased by £3k due to the increase
in nights at sea. Training courses were £4k higher than
last year as the powerboat training part of the
Introduction
to
Maritime
Careers
course
was
outsourced. Administration costs were £17k worse
than last year due to the prior year release in full of an
unused provision for the potential repayment to HMRC
of input VAT which may have been overclaimed. A
fundraising event was held, for which the £3k costs
were kindly donated by the Stelios Philanthropic
Foundation.
Balance Sheet
The balance sheet remains strong. The organisation
wholly owns the two boats and thelong-term leasehold
on the office space, whilst continuing to operate without
any loans, mortgages, or other long-term liabilities.
Cash increased by £5k during the year (2023/24: £12k
decrease) in line with the net surplus. The balance of
£129k is considered enough for the organisation to
meet its financial commitments over the next 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 2024/25.
Restricted cash reservesconsist of grants &
donations held on trust for specific purposes (see Note
14 for a breakdown). One category of restricted funds
is the Bursary fund, which allows the organisation to
offer funding assistance to beneficiaries. As most of
the organisation’s bursary assistance is awarded as
single-year deals, these financial commitments can be
reduced in an orderly manner if donations materially
reduce.
Free cash reservesexist to allow the organisation 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 £30k) plus 75% of annual cruise fee
income in reserve. The actual reserves of £141k at 31
October 2025 are higher than the lower limit. The
trustees actively monitor the reserves to ensure the
organisation continues as a going concern.
Amount of reserves held Para 1.22 The table below compares the organisation’s actual
cash reserves at 31 October 2025 to the range set out
in the reserves policy.
Free cash
reserves
£
Restricted
cash reserves
£
Lower Limit
88,173
N/A
Actual
Reserves
141,265
(2023/24:
119,523)
22,822
(2023/24:
39,353)
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 Bursary fund
Circa 160% of the bursary fund was invested in the
COIF Charities Ethical Investment fund, managed by
CCLA Investment Management, at 31 October 2025.
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.
Other reserves
Reserves other than the Bursary fund 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.
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.
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
2024/25 year.

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

Names of the trustees who manage the charity

Executive Trustee
name		 Office (if any) Role in The Scout
Association		 Name of person or
body entitled to
appoint trustee (if
any)
Adrian Slim Lead Volunteer
(Nominated)		 District Lead Volunteer County Lead Volunteer
Andrew Black1 Trustee (Co-opted) N/A AO Membership
Carol Ramsden2 Trustee (Co-opted) N/A AO Membership
Mark Gowers Secretary (Elected) N/A AO Membership
Mark Rendle Secretary (Elected) N/A AO Membership
Paula-Anne Deighton Trustee (Nominated) Deputy Lead Volunteer District Lead Volunteer
Robert Groves3 Trustee (Co-opted) N/A AO Membership
Stephen Edwards Treasurer (Elected) N/A AO Membership

Notes:

  1. Andrew Black was appointed as a trustee on 18 March 2025.

  2. Carol Ramdsen was appointed as a trustee on 7 October 2025.

  3. Robert Groves resigned on 12 June 2025 and was reappointed as a trustee on 7 October 2025.

Names of trustees holding title to asset belonging to the charity

Asset Custodian Trustee
name		 Start date End date
Offshore Scout Adrian Randall &
Steven Roys		 31 July 2022 N/A
Ocean Scout Adrian Randall &
Steven Roys		 3 September 2022 N/A

Funds held as custodian trustees on behalf of others

Description of the assets held None in this capacity

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
Adrian Slim Scout District Lead
Volunteer		 13/03/2026
Stephen Edwards Treasurer 13/03/2026

ADVENTURES OFFSHORE

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 OCTOBER 2025

I report on the accounts of Adventures Offshore for the year ended 31 October 2025 which are set out on pages 9 to 15..

Respective responsibilities of trustees and examiner

The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’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:

Basis of independent examiner’s Statement

My examination was carried out in accordance with the General Directions given 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 examiner’s 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:

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.

David Courtier FMAAT AATQB for and on behalf of: Community360 Winsley’s House, High Street, Colchester, Essex

Date 03/06/2026

8

ADVENTURES OFFSHORE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025

Notes
Incoming resources
Donations and legacies
2
Investment income
3
Incoming resources from charitable activities
4
Other income
Total incoming resources
Resources expended
Cost of generating funds
Charitable activities
Sail training scheme expenditure
5
Total resources expended
Net (outgoing)/incoming resources
Gain on investments
7
Net movement in funds
Fund balances at 1 November 2024
Fund balances at 31 October 2025		 Unrestricted
funds
£
11,731
1,499
79,297
-		 Restricted
funds
£
15,417
-
-
-		 2025
Total
£
27,149
1,499
79,297
-		 2024
Total
£
28,157
1,675
56,979
14,641
92,528 15,417 107,945 101,452
3,228
71,523		 -
28,711		 3,228
100,234		 -
107,151
74,751 28,711 103,462 107,151
17,777
-		 (13,294)
449		 4,483
449		 (5,699)
4,317
17,777 (12,844) 4,932 (1,383)
206,894 39,353 246,247 247,630
224,671 26,509 251,180 246,247

The notes on pages 12-15 form an integral part of these financial statements.

9

ADVENTURES OFFSHORE

DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2025

Income
Donations and gifts
Cruise fees
Sundry sales and courses
Annual scheme dinner receipts
Interest receivable
Other income
Expenditure
Salaries
Equipment, sails, repairs and maintenance
Food, fuel and cruise expenses
Training courses
Travel expenses
Insurance - general
Rates, light and heat
Administration
Annual scheme dinner expenditure
Fundraising
Net operational surplus before depreciation
Depreciation
Gain on investments
Surplus/(deficit) for the year after depreciation		 £
£
£
£
27,149
28,157
77,564
54,731
330
425
1,403
1,823
1,499
1,675
-
14,641
107,945
101,452
22,077
24,023
17,207
45,354
21,375
18,568
3,845
-
753
2,326
7,393
7,081
653
431
8,576
(8,147)
2,055
1,216
3,228
-
,
87,162
90,850
(87,162)
(90,850)
20,783
10,602
(16,299)
(16,299)
449
4,317
4,933
(1,383)
2025
2024		 £
£
£
£
27,149
28,157
77,564
54,731
330
425
1,403
1,823
1,499
1,675
-
14,641
107,945
101,452
22,077
24,023
17,207
45,354
21,375
18,568
3,845
-
753
2,326
7,393
7,081
653
431
8,576
(8,147)
2,055
1,216
3,228
-
,
87,162
90,850
(87,162)
(90,850)
20,783
10,602
(16,299)
(16,299)
449
4,317
4,933
(1,383)
2025
2024
101,452
(90,850)
87,162
10,602
(16,299)
4,317
(1,383)

The notes on pages 12-15 form an integral part of these financial statements.

10

ADVENTURES OFFSHORE

BALANCE SHEET AS AT 31 OCTOBER 2025

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		 £
£
62,965
30,876
35,064
129,023
194,963
(6,748)
188,215
251,180
251,180
26,509
224,671
251,180
2025		 £
£
79,264
24,284
34,614
124,262
183,160
(16,177)
166,983
246,247
246,247
39,353
206,894
246,247
2024		 £
£
79,264
24,284
34,614
124,262
183,160
(16,177)
166,983
246,247
246,247
39,353
206,894
246,247
2024
246,247
246,247
39,353
206,894
246,247

The accounts were approved by the trustees on

Signed
Signed		 Date
A Slim - Scout District Lead Volunteer
Date
S Edwards - Treasurer		 01/06/2026
01/06/2026

The notes on pages 12 - 15 form an integral part of these financial statements.

11

ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

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.

12

ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

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.

1.8 Fund structure

Unrestricted income funds are general funds that are available for use at the Trustee's discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

2
Donations and legacies
Unrestricted
Funds
£
Donations and gifts
11,731
11,731
3
Investment income
Unrestricted
Funds
£
Interest receivable
1,499
1,499
4
Incoming resources from charitable activities
Unrestricted
Funds
£
Cruise fees
77,564
Sundry sales and courses
330
Annual scheme dinner receipts
1,403
79,297
5
Total resources expended
Staff
Depreciation
Other
costs
costs
£
£
£
Support costs
Sail training scheme -
expenditure
Activities undertaken directly
22,077
16,299
33,147
Grant funding of activities
-
-
-
22,077
16,299
33,147
6
Grant funding
Sails fund
Introduction to Maritime Careers (IMC)
MPaTS
Sailing instrument funding
Bursary funding		 Restricted
Funds
£
15,417		 2025
Total
£
27,149
27,149
2025
Total
£
1,499
1,499
2025
Total
£
77,564
330
1,403
79,297
2025
Total
£
71,523
28,711
100,234
2025
£
4,422
5,718
-
-
2,049
12,189		 2024
Total
£
28,157
15,417 28,157
Restricted
Funds
£
-		 2024
Total
£
1,675
- 1,675
Restricted
Funds
£
-
-
-		 2024
Total
£
54,731
425
1,823
- 56,979
Grant
Funding
£
-
28,711		 2024
Total
£
90,804
16,347
28,711 107,151
2024
£
-
-
9,718
7,692
4,277
21,688

13

ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

7 Gain on investments

COIF Investment fund - bursary

2025
£
449
449		 2024
£
4,317
4,317

8 Trustees

None of the trustees received any remuneration during the year, but some of the trustees were reimbursed a total of £1,508.83 for travelling, office and cruise expenses (2024 £2,373).

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		 2025
Number
-
2
2
2025
£
22,077		 2024
Number
-
2
2
2024
£
24,023

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

10 Key management personnel

During the year, no remuneration was paid to key management personnel (2024: £Nil). The remuneration of key management personnel is decided upon and authorised by the trustees.

11 Tangible fixed assets
Cost
At 1 November 2024
Additions
Disposal
At 31 October 2025
Depreciation
At 1 November 2024
Charge for the year
Disposal
At 31 October 2025
Net book value
At 31 October 2025
At 31 October 2024		 Land and
buildings
£
50,000
-
-
50,000
28,833
1,000
-
29,833
20,167
21,167		 Yachts
£
478,624
-
-		 Office
equipment
£
1,078
-
-
1,078
855
111
-
966
112
223		 Other
equipment
£
11,265
-
-
11,265
7,947
830
-
8,777
2,488
3,318		 Total
£
540,967
-
-
478,624 540,967
424,069
14,359
-		 461,703
16,299
-
438,428 478,002
40,196 62,965
54,555 79,264

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

14

ADVENTURES OFFSHORE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

12 Debtors
Other debtors
Prepayments and accrued income
13 Creditors: amounts falling due within one year
Other creditors
Deferred income
Accruals		 2025
£
28,598
2,278		 2024
£
20,992
3,292
30,876 24,284
2025
£
54
5,650
1,044		 2024
£
61
12,380
3,736
6,748 16,177

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.

Bursary fund
Introduction to Maritime Careers
Bursary fund total
Sails fund
Fundraising
Young vol. training
Engine replacement fund
Sailing instrument fund		 Balance at 1
November
2024
£
28,672
5,719		 Income
ExpenditureGains/losses Balance at
on
31 October
investments
2025
£
£
£
£
2,049
(9,624)
449
21,547
5,718
(11,437)
-
-
7,767
(21,060)
449
21,547
4,422
(4,422)
-
-
3,228
(3,228)
-
-
-
-
-
749
-
-
-
1,500
-
-
-
2,714
15,417
(28,711)
449
26,509
Movements in funds		 Income
ExpenditureGains/losses Balance at
on
31 October
investments
2025
£
£
£
£
2,049
(9,624)
449
21,547
5,718
(11,437)
-
-
7,767
(21,060)
449
21,547
4,422
(4,422)
-
-
3,228
(3,228)
-
-
-
-
-
749
-
-
-
1,500
-
-
-
2,714
15,417
(28,711)
449
26,509
Movements in funds		 Income
ExpenditureGains/losses Balance at
on
31 October
investments
2025
£
£
£
£
2,049
(9,624)
449
21,547
5,718
(11,437)
-
-
7,767
(21,060)
449
21,547
4,422
(4,422)
-
-
3,228
(3,228)
-
-
-
-
-
749
-
-
-
1,500
-
-
-
2,714
15,417
(28,711)
449
26,509
Movements in funds		 Income
ExpenditureGains/losses Balance at
on
31 October
investments
2025
£
£
£
£
2,049
(9,624)
449
21,547
5,718
(11,437)
-
-
7,767
(21,060)
449
21,547
4,422
(4,422)
-
-
3,228
(3,228)
-
-
-
-
-
749
-
-
-
1,500
-
-
-
2,714
15,417
(28,711)
449
26,509
Movements in funds
34,391
-
-
749
1,500
2,714		 7,767
4,422
3,228
-
-
-		 (21,060)
(4,422)
(3,228)
-
-
-		 449
-
-
-
-
-		 21,547
-
-
749
1,500
2,714
39,353 15,417 (28,711) 449 26,509

15 Related parties

During the year, there were no related parties.

16 Going concern

The charity is operating on a going concern basis.

15