## **Trustees’ Annual Report for the period**
**From 01.09.23 Period start date To 31.08.24 Period end date Charity name: Andrew Cassell Foundation (Racing for the Disabled) Charity registration number: 1057742**
## **Objectives and Activities**
|**Objectives and Activities**|**Objectives and Activities**|**Objectives and Activities**|
|---|---|---|
|SORP reference|||
|Summary of the purposes of
the charity as set out in its
governing document
Para 1.17
**To Support individuals with, in the main,**
**physical and sensory disabilities to take**
**part in yacht racing and cruising and to**
**encourage the integration of those**
**sailors with disabilities with able bodied**
**sailors.**|||
|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
**Sailing, racing and training for disabled**
**and able bodied participants of differing**
**abilities. Training of new volunteers and**
**further training for existing volunteers.**
**Continuation of development of**
**improved safety measures.**|||
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**The Trustees continue to understand**
**the public benefit and for this reason**
**have been striving to make the sport**
**more accessible by working with local**
**organisations and enhanced training for**
**volunteers.**|
**Additional information (optional)** You may choose to include further statements where relevant about:
|SORP reference|SORP reference|SORP reference|
|---|---|---|
|Policy on grant making
Para 1.38
**-**|||
|Policy on social investment
including program related
investment
Para 1.38
**-**|||
|Contribution made by
volunteers|Para 1.38|**ACF are heavily dependent on**
**volunteers, of all levels, to assist**
**supporting the activities of our disabled**
**participants. New volunteers are always**
**welcome and trained, with existing**
**volunteers being further trained as their**
**independence increases.**|
**-** Other
## **Achievements and Performance**
**----- Start of picture text -----**
SORP reference
ACF held the second Fairwinds Art
**----- End of picture text -----**
|**Achievements and Performance**|**Achievements and Performance**|**Achievements and Performance**|
|---|---|---|
|SORP reference|||
|||**ACF held the second Fairwinds Art**|
|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|**Exhibition in April in memory of John**
**Garlick, which was hosted and**
**supported by Cowes Yacht Haven. The**
**proceeds of the sale of paintings and**
**works of art were gratefully accepted.**
**During May ACF held a successful Isle**
**of Wight amputee open day. Welcoming**
**five new members, resulted in a need to**
**enhance our team by increasing**
**volunteers and coaches and upskill**
**existing team members.**
**The Foundation successfully bid for**
**funds from Hampshire & IOW**
**Community Foundation and Sport**
**England -The Movement Fund. These**
**restricted donation funds for coaching,**
**enabled ACF to support our participants**
**further by utilising additional coaches.**
**2023/24 saw the introduction of a Friday**
**afternoon club whereby individuals can**
**visit the Foundation and enjoy a low key**
**way to participating in our main**
**programme. These sessions may or**
**may not be included but always include**
**some development work and social**
**bonding. This programme was a key**
**part of developing informal links with**
**the Isle of Wight NHS.**
**Cowes Week was a huge celebration for**
**ACF as our team consisted of over 25**
**people, almost double the number in**
**previous years. ACF Dolphin achieved a**
**podium placement of 3rd (out of 14) in**
**class, with ACF Limitless and ACF**
**Spare Part being placed 7th and 10th**
**respectively.**
**These results reflect the true value of**
**equality, diversity and inclusion.**
**Word of mouth has been a powerful**
**recruiting method by which new**
**disabled people have joined us this**
**year. ACF has always been concerned**
**about offering opportunities to disabled**|
**people on the island and we are delighted to see our engagement with Wight Aid, local clinics and services bear fruit in increasing numbers of island participants.**
**----- Start of picture text -----**
Additional information (optional)
You may choose to include further statements where relevant about:
-
Achievements against Para 1.41
objectives set
-
Performance of fundraising
activities against objectives Para 1.41
set
**----- End of picture text -----**
|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|
|---|---|---|
||||
|Achievements against
objectives set|Para 1.41|**-**|
|Performance of fundraising
activities against objectives
set|Para 1.41|**-**|
|Investment performance
against objectives|Para 1.41|**-**|
|Other||**-**|
## **Financial Review**
**----- Start of picture text -----**
Review of the charity’s Para 1.21 See separate attachment.
financial position at the end
of the period
Statement explaining the Para 1.22 To hold two months expenses so that it
policy for holding reserves can meet any committed costs in the
stating why they are held event that donations are not
forthcoming for a time.
Amount of reserves held Para 1.22 £6,500.00
Reasons for holding zero Para 1.22 -
reserves
Details of fund materially in Para 1.24 There is no fund that is materially in
deficit deficit.
Explanation of any Para 1.23 There are no uncertainties as the charity
uncertainties about the has a healthy bank balance, continues
charity continuing as a going to operate and has sufficient reserves to
concern cover expenses.
Additional information (optional)
You may choose to include further statements where relevant about:
-
The charity’s principal
sources of funds (including Para 1.47
any fundraising)
-
Investment policy and
objectives including any Para 1.46
social investment policy
adopted
-
A description of the principal Para 1.46
risks facing the charity
-
Other
**----- End of picture text -----**
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**Service Provider is the governing**
**document.**|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**The charity is an unincorporated**
**association.**|
|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|**Managed by the current Trustees, the**
**selection methods used are one or more**
**of the following: a connection to the**
**sailing industry, a history of supporting**
**the Foundation, experience in a**
**particular field (e.g. Treasurer) and a**
**passion to support disabled individuals**
**to have access to the sport.**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|**-**|
|---|---|---|
|The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|**-**|
|Relationship with any related
parties|Para 1.51|**-**|
|Other||**-**|
## **Reference and Administrative details**
**----- Start of picture text -----**
Charity name Andrew Cassell Foundation (Racing for the Disabled)
Other name the charity uses No other names
Registered charity number 1057742
Charity’s principal address 16 Bellevue Road
Cowes
PO31 7HL
**----- End of picture text -----**
## **Names of the charity trustees who manage the charity**
**----- Start of picture text -----**
Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 Daniel Mark Lane Chairman
2 Paul Gomm Secretary
3 Angela Smith Treasurer
4 Mark Charles Hart Trustee
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
**----- End of picture text -----**
– Corporate trustees names of the directors at the date the report was approved
**Director name Not applicable**
Name of trustees holding title to property belonging to the charity
**----- Start of picture text -----**
Trustee name Dates acted if not for whole year
Not applicable
**----- End of picture text -----**
## **Funds held as custodian trustees on behalf of others**
|Description of the assets
held in this capacity|None|
|---|---|
|Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|None|
|Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets|None|
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Type of**|**Name**|**Address**|
|---|---|---|
|**adviser**|||
|**None**|||
||||
||||
||||
**Name of chief executive or names of senior staff members (Optional information)**
N/A
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
**None**
## **Other optional information**
**None**
Declarations
The trustees declare thal they have approved the trusiees, report above.
Slgned on behalf of the charws trustees
Slgnaturels)
Full name(s)
Position (eg Secretary,
Chalr. etc)
Charity Name: Andrew Cassell Foundation Charity No (Racing for the Disabled) Company No Annual accounts for the period Period start date **To** 01/09/2023
Charity No 10577742 Company No N/A Period end **To** date 31/08/2024
## **Section A Statement of financial activities (including summary income and expenditure account)**
|Guidance Note
S01
S02
S03
S04
S05
S06
S07
**Expenditure (Notes 6)**
**Expenditure on:**
S08
S09
S10
S11
S12
S13
Tax payable
S14
S15
Net gains/(losses) on
investments
S16
S17
**Extraordinary items**
S18
S19
S20
Other gains/(losses)
S21
S22
**_Reconciliation of_**
**_funds:_**
S23
S24
**_Total_**
**Recommended categories by activity**
**Income (Note 3)**
**Income and endowments from:**
Donations and legacies
Investments
Charitable activities
Other trading activities
Separate material item of income
Other
Gains and losses on revaluation of fixed assets for the
charity’s own use
Charitable activities
Separate material expense item
**_Net movement in funds_**
**Other recognised** **gains/(losses):**
**Net income/(expenditure) before tax for**
**the reporting period**
Raising funds
Other
**_Total funds carried forward_**
**_Total_**
**Net income/(expenditure) after tax**
**before investment gains/(losses)**
**Net income/(expenditure)**
**Transfers between funds**
Total funds brought forward|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05
23,015
15,189
-
38,204
36,537
15,759
-
-
15,759
7,364
-
-
-
-
-
179
-
-
179
97
-
-
-
-
-
-
-
-
-
-|
|---|---|
||38,954
15,189
-
54,143
43,998|
||292
-
-
292
190
37,746
5,742
-
43,488
29,210
-
-
-
-
-
-
-
-
8,325|
||38,038
5,742
-
43,780
37,725|
|||
||916
9,447
-
10,363
6,274|
||-
-
-
-
-|
||916
9,447
-
10,363
6,274|
||-
-
-
-
-|
||916
9,447
-
10,363
6,274|
||-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
||916
9,447
-
10,363
6,274|
||42,480
10,238
-
52,718
46,444|
||43,396
19,685
-
63,081
52,718|
9
Charity Name
Charity No Company No
## **Section B Balance sheet**
|Guidance Note
**Fixed assets**
**Intangible assets (Note 15)**
B01
**Tangible assets (Note 14)**
B02
**Heritage assets (Note 16)**
B03
**Investments (Note 17)**
B04
**_Total fixed assets_**
B05
**Current assets**
**Stocks (Note 18)**
B06
**Debtors (Note 19)**
B07
**Investments (Note 17.4)**
B08
**Cash at bank and in hand (Note 24)**
B09
**_Total current assets_**
B10
**Creditors: amounts falling due**
**within one year (Note 20)**
B11
**_Net current assets/(liabilities)_**
B12
**_Total assets less current liabilities_**
B13
**Creditors: amounts falling due after**
**one year (Note 20)**
B14
**Provisions for liabilities**
B15
**_Total net assets or liabilities_**
B16
**Funds of the Charity**
**Endowment funds (Note 27)**
B17
**Restricted income funds (Note 27)**
B18
**Unrestricted funds**
B19
**Revaluation reserve**
B20
**Fair value reserve**
B21
**_Total funds_**
B22|**Unrestricted**
**funds**
**£**
F01
-
32,520
-
-|
**Restricted**
**income**
**funds**
**£**
F02
-
-
-
-|**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
F03
F04
-
-
-
32,520
-
-
- -|**Total last**
**year**
**£**
F05|
|---|---|---|---|---|
|||||-
32,520
-
-|
||32,520|-|-
32,520|32,520|
||-
11,132
-
26,502|-
-
-
-|-
-
- 11,132
-
-
- 26,502||
|||||-
3,744
-
24,778|
||37,634|-|-
37,634|28,523|
|||||8,325|
||7,073|-|- 7,073||
||||||
||30,561|-|-
30,561|20,198|
||||||
||63,081|-|**-**
63,081|52,718|
|||||-
-|
||-
-|-
-|- -
-
-||
||||||
||63,081|-|- 63,081|52,718|
||-
37,396
6,000|19,685|-
19,685
- 37,396
6,000|-
10,238
36,480
6,000
-|
||43,396|19,685|-
63,081|52,718|
_**The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.**_
_**The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.**_
_**The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.**_
_**These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.**_
10
Charity Name
Charity No Company No
## **Section B Balance sheet**
|Signature of director authenticating accounts being sent to
Companies House
Signed by one or two trustees/directors on behalf of all the
trustees/directors|Date of
approval
dd/mm/yyyy
Date
dd/mm/yyyy
**Print name**
Signature
Print Name|
|---|---|
11
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ANDREW CASSELL FOUNDATION (RACING FOR THE DISABLED) ON THE ACCOUNTS FOR THE YEAR ENDING 31 AUGUST 2024**
I report on the accounts of the Charity for the year ended 31 August 2024, which are set out on pages 1 to 30.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the 2011 Charities Act. My examination has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our examination, for this report, or for the opinions we have formed.
## **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 2011 Act) and that an independent examination is needed.
## It is my responsibility to:
- Examine the accounts under section 145 of the 2011 Act;
- To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Act, as amended); and
- To state whether particular matters have come to our attention.
## **Basis of independent examiner’s report**
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 consideration 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 no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with our examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- proper accounting records are kept (in accordance with section130 of the 2011 Act); and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mark Paxton FCCA Bright Brown Limited Dated: 30 June 2025
Exchange House St Cross Lane Newport Isle of Wight PO30 5BZ
`12`
**Section C Notes to the accounts**
## Note 1 **Basis of preparation**
## _**This section should be completed by all charities** ._
## **1.1 Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities • and with* preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 • and with* the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
- and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.*
Yes
* -Tick as appropriate
## **1.2 Going concern**
_**If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:**_
An explanation as to those factors that _**ACF has a healthy bank balance, continues to opperate and**_ support the conclusion that the charity is a _**has sufficient reserves to cover expeneses**_ going concern; Disclosure of any uncertainties that make the _**Not applicable**_ going concern assumption doubtful; Where accounts are not prepared on a going _**Not applicable**_ concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.
## **1.3 Change of accounting policy**
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.
Yes* * -Tick as appropriate No*
## _**Please disclose:**_
_**(i) the nature of the change in accounting policy;**_
_**(ii) the reasons why applying the new accounting policy provides more reliable and more relevant information; and**_
13
_**(iii) the amount of the adjustment for each line affected in the current period, each prior period presented and the aggregate amount of the adjustment relating to periods before those presented, 3.44 FRS102 SORP.**_
## **1.4 Changes to accounting estimates**
No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP).
|Yes*
No*|
|* -Tick as appropriate|
|---|---|---|
14
**Section C Notes to the accounts**
## _**Please disclose:**_
_**(i) the nature of any changes; (ii) the effect of the change on income and expense or assets and liabilities for the current period; and (iii) where practicable, the effect of the change in one or more future periods.**_
## **1.5 Material prior year errors**
**----- Start of picture text -----**
No material prior year error have been identified in the reporting period (3.47 FRS102 SORP).
Yes*
* -Tick as appropriate
No*
Please disclose:
(i) the nature of the prior period error;
(ii) for each prior period presented in the accounts, the
amount of the correction for each account line item
affected; and
(iii) the amount of the correction at the beginning of the
earliest prior period presented in the accounts.
**----- End of picture text -----**
15
**Section C Notes to the accounts (cont)**
|**Recognition of income**
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
**Donated services and**
**facilities**
Donated services and facilities are included in the SOFA when received at the value of
the gift to the charity provided the value of the gift can be measured reliably.
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on
receipt. In the reporting period in which the stocks are distributed, they are recognised
as an expense at the carrying amount of the stocks at distribution.
**Contractual income and**
**performance related**
**grants**
This is only included in the SoFA once the charity has provided the related goods or
services or met the performance related conditions.
**Donated goods**
Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
**Government grants**
The charity has received government grants in the reporting period
**Tax reclaims on**
**donations and gifts**
Gift Aid receivable is included in income when there is a valid declaration from the
donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift
and is treated as an addition to the same fund as the initial donation unless the donor or
the terms of the appeal have specified otherwise.
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
**Legacies**
Legacies are included in the SOFA when receipt is probable, that is, when there has
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
charity or have been met.
**Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless
required or permitted by the FRS 102 SORP or FRS 102.
**Grants and donations**
Grants and donations are only included in the SoFA when the general income
recognition criteria are met (5.10 to 5.12 FRS102 SORP).
**Note 2 Accounting policies**
**2.2 INCOME**
These are included in the Statement of Financial Activities (SoFA) when:
the charity becomes entitled to the resources;
it is more likely than not that the trustees will receive the resources;
the monetary value can be measured with sufficient reliability.
16|Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
|
|---|---|
16
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
|**Grants with performance**
**conditions**
**Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently
measured at the best estimate of the amount required to settle the obligation at the
reporting date
**Basic financial**
**instruments**
The charity accounts for basic financial instruments on initial recognition as per
paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.
**Deferred income**
No material item of deferred income has been included in the accounts.
**Creditors**
The charity has creditors which are measured at settlement amounts less any trade
discounts
**Grants payable without**
**performance conditions**
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
**Redundancy cost**
The charity made no redundancy payments during the reporting period.
**Governance and support**
**costs**
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their
usage.
Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
**Investment gains and**
**losses**
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
**2.3 EXPENDITURE AND LIABILITIES**
**Liability recognition**
Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of
the obligation can be measured with reasonable certainty.
**Income from membership**
**subscriptions**
Membership subscriptions received in the nature of a gift are recognised in Donations
and Legacies.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.
**Settlement of insurance**
**claims**
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
**Volunteer help**
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.
**Income from interest,**
**royalties and dividends**
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
Donated services and facilities that are consumed immediately are recognised as
income with an equivalent amount recognised as an expense under the appropriate
heading in the SOFA.
**Support costs**
The charity has incurred expenditure on support costs.|Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
Yes*
No*
N/a*
|
|---|---|
## **2.4 ASSETS**
**Tangible fixed assets for** These are capitalised if they can be used for more than one year, and cost at least **use by charity**
£150
17
**use by charity**
Yes* No* N/a*
They are valued at cost.
The depreciation rates and methods used are disclosed in note 14.
## **Intangible fixed assets**
The charity has intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 15.
They are valued at cost.
||Yes*|No*|N/a*|
|---|---|---|---|
|||||
||Yes*|No*|N/a*|
|||||
18
**Section C Notes to the accounts (cont)**
The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and **Heritage assets** maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 16. They are valued at cost. Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year **Investments** end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments
**Stocks and work in** Stocks held for sale as part of non-charitable trade are measured at the lower or cost or **progress** net realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the **Debtors** charity. Subsequently, they are measured at the cash or other consideration expected to be received. The charity has investments which it holds for resale or pending their sale and cash and **Current asset** cash equivalents with a maturity date less than one year. These include cash on **investments** deposit and cash equivalents with a maturity of loss than one year held for investment purposes rather than to meet short-term cash commitments as they fall due.
They are valued at fair value except where they qualify as basic financial instruments.
||Yes*|No*|N/a*|
|---|---|---|---|
|||||
|||||
||Yes*|No*|N/a*|
|||||
|||||
||Yes*|No*|N/a*|
|||||
|||||
||Yes*|No*|N/a*|
|||||
||Yes*|No*|N/a*|
|||||
|||||
||Yes*|No*|N/a*|
|||||
||Yes*|No*|N/a*|
|||||
|||||
||Yes*|No*|N/a*|
|||||
||Yes*|No*|N/a*|
|||||
|||||
|||||
||Yes*|No*|N/a*|
|||||
## **POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE**
19
**Section C Notes to the accounts (cont)**
## **Note 3 Income**
**----- Start of picture text -----**
Restricted
Unrestricted income Endowment
Analysis of income funds funds funds Total funds Prior year
£ £
Donations Donations and gifts 23,015 15,189 - 38,204 36,255
and legacies: Gift Aid - - - 281
Legacies - - - - -
General grants provided by government/other
charities - - - - -
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donated goods, facilities and services - - - - -
Other - - - -
Total 23,015 15,189 - 38,204 36,537
Charitable Sailing
activities: 5,643 - - 5,643 4,748
Clothing for Sailing - Misc 125 - - 125 137
BBQ & Xmas Lunch - - - - 2,447
BBQ & Awards and Dinner Evening 3,315 - - 3,315
Fair Winds Art Exhibition 6,660 6,660
Other 16 - - 16 32
Total 15,759 - - 15,759 7,364
Other trading
activities: - - - - -
- - - - -
- - - - -
Other - - - - -
Total - - - - -
Income from Interest income 179 - - 179 97
investments: Dividend income - - - - -
Rental and leasing income - - - - -
Other - - - - -
Total 179 - - 179 97
Separate - - - - -
material item - - - - -
of income - - - - -
- - - - -
Total - - - - -
Other: Conversion of endowment funds into income
- - - - -
Gain on disposal of a tangible fixed asset held
for charity's own use - - - - -
Gain on disposal of a programme related
investment - - - - -
Royalties from the exploitation of intellectual
property rights - - - - -
Other - - - - -
Total - - - - -
TOTAL INCOME 38,954 15,189 - 54,143 43,998
Other information:
All income in the prior year was unrestricted except for:
(please provide description and amounts)
Where any endowment fund is converted into income in the
reporting period, please give the reason for the conversion.
Not applicable
**----- End of picture text -----**
20
**Where any endowment fund is converted into income in the prior period, please give the reason for the conversion.**
**Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)**
**----- Start of picture text -----**
Not applicable
Not applicable
**----- End of picture text -----**
21
**Section C Notes to the accounts (cont)**
**This year: Where sums originally denominated in foreign currency have been included in income, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).**
**Last year: Where sums originally denominated in foreign currency have been included in income, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).**
Not applicable Not applicable
22
Section C
Notes to the ac¢ountS
Icontl
Note 6
Expendlture
This year
Last yoar
R•5triGtsd
Endowrnerbt
nds
AnalysSs
Ex
ndlture on raisin
funds-
Incurred seeking donations
Incurred seeking legacies
Incurred seeking grants
Operating membership Schemes and social lotteries
fvnd$
Tol•l fvNI$
fund5
funds
Total fvnds
Staging fLJndr3ising 8vents
Fudraising agents
Operating charty shops
Opeialing a trading Company undertaking non-charltable
Advertising, marketing, d1ct mail and publ¢city
292
292
190
start up costs incurred in generating new source of futur8
income
Database d8v8lopmenl costs
other trading activities
Investment management costs..
Portfollo management C0515
Cost of obtaining Investment advice
Inve8tm8nl administration costs
Inteltectual property Iic8ncing costs
Rent colteclion, property repaits and Maint6nan¢•
¢harge8
Totsl 8xpgndltUfe on raising funds
292
292
190
Exp8ndituro on ¢harltsble a¢tlvltles:
Sailing
MG Marine Consultancy Fees
Clothlng
Xmas Lunch and BBQ
1.696
15589
94
1S 589
94
442
442
128
128
BBQ & Awards and Dinner Evenir
Boat RepaiTS & Rofurbishment
Recovery N&ts
Fair Winds Art Exhibition
Elribelh Wood Trophy
First Cour8elln61Memb FeeslRib FuelNigeJChargeg
T(tsl expendlture on ¢harltable actlvltl89
arato materlal Item of ex
n88
Total
Other
Inde
ccyc
Paul
eth Photo
Gri¢r Consultan
L Gr8enou
h Consultanc
Totsl other expenditure
TOTAL EXPENDITURE
ndent Examination
440
5159
440
2.219
7.073
33.037
7.073
43,779
8,325
37.724
10.742
37,724
23
**Section C Notes to the accounts (cont)**
## **Note 6 Expenditure**
## **Other information:**
## **Analysis of expenditure on charitable activities**
**----- Start of picture text -----**
This year Last year
Activities Grant Activities Grant
Support Total this Support Total last
Activity or programme undertaken funding of undertaken funding of
Costs year Costs year
directly activities directly activities
£ £ £ £ £ £ £ £
Activity 1 - - - - - - - -
Activity 2 - - - - - - - -
Other - - - - - - - -
Total - - - - - - - -
**----- End of picture text -----**
**This year: Where sums originally denominated in foreign currency have been included in expenditure, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up). Last year: Where sums originally denominated in foreign currency have been included in expenditure, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).**
24
**Section C Notes to the accounts**
## **Note 10 Details of certain types of expenditure**
## **Note 10.1 Fees for examination of the accounts**
_**Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).**_
|**Tax advisory fees**
**Other fees (for example: financial advice, consultancy, accountancy services) paid**
**to the independent examiner**
**Independent examiner’s fees**
**Assurance services other than independent examination**|**This year**
**Last year**
**£**
**£**
1,050 1,050
- -
- -
- -|
|---|---|
25
## **Section C Notes to the accounts (cont)**
## **Note 14 Tangible fixed assets**
_**Please complete this note if the charity has any tangible fixed assets**_
## **14.1 Cost or valuation**
**----- Start of picture text -----**
Freehold land & Other land & Plant, machinery and Fixtures, fittings and Total
buildings buildings motor vehicles equipment
£ £ £ £ £
At the beginning of - - - 32,520 32,520
the year
Additions - - - - -
Revaluations - - - - -
Disposals - - - - -
Transfers * - - - - -
At end of the year - - - 32,520 32,520
14.2 Depreciation and impairments
**Basis SL or RB (Straight SL or RB SL or RB SL or RB SL or RB
Line or Reducing
Balance)
** Rate
At beginning of the - - - - -
year
Disposals - - - - -
Depreciation - - - - -
Impairment - - - - -
Transfers* - - - - -
At end of the year - - - - -
14.3 Net book value
Net book value at the - - - 32,520 32,520
beginning of the year
Net book value at the - - - 32,520 32,520
end of the year
14.4 Impairment
Not applicable
This year: Please provide a description of the events and
circumstances that led to the recognition or reversal of an
impairment loss.
Not applicable
Last year: Please provide a description of the events and
circumstances that led to the recognition or reversal of an
impairment loss.
**----- End of picture text -----**
**14.5 Revaluation** _**If an accounting policy of revaluation is adopted, please provide: the effective date of the revaluation**_
|**_the effective date of the revaluation_**
**_If an accounting policy of revaluation is adopted, please provide:_**
**_the carrying amount that would have been recognised_**
**_had the assets been carried under the cost model._**
**_the name of independent valuer, if applicable_**
**_the methods applied and significant assumptions_**|**This year**
**Last year**
**-**
**-**
**-**
**-**
**-**
**-**
- -|
|---|---|
26
**Section C Notes to the accounts (cont)**
## **14.6 Other disclosures**
|**_(i) Please state the amount of borrowing costs, if any, capitalised in the_**
**_construction of tangible fixed assets and the capitalisation rate used._**
**_(ii) Please provide the amount of contractual commitments for the acquisition_**
**_of tangible fixed assets._**
**_(iii) Details of the existence and carrying amounts of property, plant and_**
**_equipment to which the charity has restricted title or that are pledged as_**
**_security for liabilities._**|**This year**
**Last year**
**£**
**£**
- -
- -|
|---|---|
- _The "transfers" row is for movements between fixed asset categories._
- _** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also_
27
**Section C Notes to the accounts (cont)**
## **Note 19 Debtors and prepayments**
## _**Please complete this note if the charity has any debtors or prepayments.**_
## **19.1 Analysis of debtors**
|**19.1 Analysis of debtors**||
|---|---|
|**Total**
**Trade debtors**
**Prepayments and accrued income**
**Other debtors**|**This year**
**Last year**
**£**
**£**
- -
11,132
3,744
- -|
||11,132
3,744|
## _**Complete 19.2 where a material debtor is recoverable more than a year after the reporting date.**_
## **19.2 Disclosure of debtors recoverable in more than 1 year (included in debtors above)**
|**Total**
**Trade debtors**
**Prepayments and accrued income**
**Other debtors**|**This year**
**Last year**
**£**
**£**
- -
- -
- -|
|---|---|
||- -|
28
**Section C Notes to the accounts (cont)**
## **Note 20 Creditors and accruals**
_**Please complete this note if the charity has any creditors or accruals.**_
## **20.1 Analysis of creditors**
|**This year**
**Last year**
**£**
**£**
**Accruals for grants payable**
- -
**Bank loans and overdrafts**
- -
**Trade creditors**
- -
**Payments received on account for contracts**
**or performance-related grants**
- -
**Accruals and deferred income**
7,073 8,325
**Taxation and social security**
- -
**Other creditors**
- -
**Total** 7,073 8,325
**20.2 Deferred income**
**_Please explain the reasons why income is_**
**_deferred._**
**_Movement in deferred income account_**
**Balance at the start of the reporting period**
**Amounts added in current period**
**Amounts released to income from previous periods**
**_Please complete this note if the charity has deferred_**
**_income_**
**Balance at the end of the reporting period**
**Amounts falling due**
**within one year**
**This year**|**This year**
**Last year**
**£**
**£**
- -
- -
- -
- -
7,073 8,325
- -
- -
**Amounts falling due**
**within one year**|**This year**
**Last year**
**£**
**£**
- -
- -
- -
- -
- -
- -
- -
**Amounts falling due after**
**more than one year**|
|---|---|---|
||7,073 8,325|- -|
|||**This year**
**Last year**
**£**
**£**
- -
- -
- -
**Last year**|
|||- -|
29
**Section C Notes to the accounts (cont)**
|**Other**
**Short term deposits**
**Cash at bank and on hand**
**Total**
**Note 24 Cash at bank and in hand**
**Short term cash investments (less than 3 months maturity date)**|**This year**
**Last year**
**£**
**£**
- -
- -
26,502
24,778
- -|
|---|---|
||26,502
24,778|
30
**Section C Notes to the accounts (cont)**
## **Note 27 Charity funds**
## **27.1 Details of material funds held and movements during the CURRENT reporting period**
_**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.**_
_*** Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
**----- Start of picture text -----**
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR *
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
MM Wyllie Charitable Trust R Boat repairs & refurbishment 4,338 - - 3,242 - - 1,096
Equipment to enable wheelchair user
Whirlwind Charitable Trust R on/off boat and Support 5,000 - - - - 5,000
Ian Wyllie R IT Equipment 400 - - - - 400
The Wight Aid Foundation R Recovery Nets 500 - - 500 -
Barry Hocking R Elizabeth Wood Trophy 1,000 - 1,000 -
The YAPP Charitable Trust R Insurance 1,000 - 1,000 -
Hants The ISHIWCF R Coaching 5,000 5,000
Sussex Masonic Lodge R Seat Development 989 989
ESC Lottery Fund R Coaching 7,200 7,200
MM Wyllie Charitable Trust U Matt Grier Consultancy 4,411 - 4,411 -
Revaluation Reserve Revaluation surplus on Fixed Assets 6,000 - - - - 6,000
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Other funds (balancing
figure) N/a N/a 32,069 38,954 - 33,627 - - 37,396
Total Funds as per balance sheet 52,718 54,143 - 43,780 - - 63,081
Yes* No*
Fund balances carried forward include assets and liabilities denominated in a foreign currency
**----- End of picture text -----**
_**If yes, please state the basis on which the assets and/or liabilities have been translated into sterling (or the currency in which the accounts are drawn up).**_
31
**Section C Notes to the accounts (cont)**
## **Note 27 Charity funds**
## **27.2 Details of material funds held and movements during the PREVIOUS reporting period**
_**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.**_
_*** Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
**----- Start of picture text -----**
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR *
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
MM Wyllie Charitable Trust R Boat repairs & refurbishment 5,713 - - 1,375 - - 4,338
Equipment to enable wheelchair user
Whirlwind Charitable Trust R on/off boat and Support 5,000 - - - - 5,000
Ian Wyllie R IT Equipment 400 - - - - 400
Golders Dream Foundation R Seat for disabled and spinakers 2,277 - - 2,277 - - -
The Wight Aid Foundation R Recovery Nets - 500 - 500
GKN Employees Charities Fund R Spinaker - 500 - 500 - - -
MM Wyllie Charitable Trust U Matt Grier Consultancy - 20,000 - 15,589 - - 4,411
Revaluation Reserve Revaluation surplus on Fixed Assets 6,000 - - - - 6,000
- - - - - -
- - - - - -
- - - - - -
Other funds (balancing
figure) N/a N/a 27,054 22,998 - 17,983 - - 32,069
Total Funds as per balance sheet 46,444 43,998 - 37,724 - - 52,718
Yes* No*
Fund balances carried forward include assets and liabilities denominated in a foreign currency
**----- End of picture text -----**
32
## **Section C Notes to the accounts (cont)**
## **Note 28 Transactions with trustees and related parties**
## _**If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes)**_
## **28.1 Trustee remuneration and benefits**
## **This year**
**None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)**
**TRUE**
## _**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for,**_
|**Name of trustee**
**Legal authority (eg**
**order, governing**
**document)**|**Remuneration**
**Pension**
**contribution**
**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**
**Other**
**TOTAL**
**£**
**£**
**£**
**£**
**£**
-
- -
-
**-**
-
- -
-
**-**
-
- -
-
**-**
-
- -
-
**-**
**Amounts paid or benefit value**|
|---|---|
_**Please give details of why remuneration or other Where an ex gratia payment has been made to a trustee, If a third party has been reimbursed for providing one or State the number of trustees to whom retirement benefits**_
## **Last year**
**None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)**
**TRUE**
## _**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for,**_
|**Name of trustee**
**Legal authority (eg**
**order, governing**
**document)**|**Remuneration**
**Pension**
**contribution**
**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**
**Other**
**TOTAL**
**£**
**£**
**£**
**£**
-
- -
-
**-**
-
- -
-
**-**
-
- -
-
**-**
-
- -
-
**-**
**Amounts paid or benefit value**|
|---|---|
_**Please give details of why remuneration or other Where an ex gratia payment has been made to a trustee, If a third party has been reimbursed for providing one or State the number of trustees to whom retirement benefits**_
33
**Section C Notes to the accounts (cont)**
## **28.2 Trustees' expenses**
## _**If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in**_
**----- Start of picture text -----**
TRUE
No trustee expenses have been incurred (True or False)
This year Last year
Type of expenses reimbursed
£ £
Travel - -
Subsistence - -
Accommodation - -
Other (please specify): - -
- -
TOTAL - -
**----- End of picture text -----**
## **Please provide the number of trustees reimbursed for expenses or who**
## **28.3 Transaction(s) with related parties**
## _**Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material**_ **This year**
|**This year**|**This year**|**This year**|**This year**||||||
|---|---|---|---|---|---|---|---|---|
|**There have been no related party transactions in the reporting period**||||**(True or False)**|||**TRUE**||
||||||||||
|||||||||**Amounts**|
|**Name of the trustee**
**or related party**|**Relationship**
**to charity**|**Description of the**
**transaction(s)**|**Amount**|**Balance at**
**period end**|**Provision for bad debts**
**at period end**|||**written**
**off during**
**reporting**|
|||||||||**period**|
||||**£**|**£**|**£**|||**£**|
|||||- -|
||-|-
|
|||||- -|
||-|-
|
|||||- -|
||-|-
|
|||||- -|
||-|-
|
## _**In relation to the transactions above, please provide the**_
## _**For any related party, please provide details of any**_
## **Last year**
|**There have been no related party transactions in the reporting period**|**There have been no related party transactions in the reporting period**|**There have been no related party transactions in the reporting period**|**There have been no related party transactions in the reporting period**|**(True or False)**|||**TRUE**|**TRUE**|
|---|---|---|---|---|---|---|---|---|
||||||||||
|||||||||**Amounts**|
|**Name of the trustee**
**or related party**|**Relationship**
**to charity**|**Description of the**
**transaction(s)**|**Amount**|**Balance at**
**period end**|**Provision for bad debts**
**at period end**|||**written**
**off during**
**reporting**|
|||||||||**period**|
||||**£**|**£**|**£**|||**£**|
|||||- -|
||-|-
|
|||||- -|
||-|-
|
|||||- -|
||-|-
|
|||||- -|
||-|-
|
## _**In relation to the transactions above, please provide the**_
_**For any related party, please provide details of any**_
34