# **FELLOWSHIP AFLOAT CHARITABLE TRUST (LIMITED BY GUARANTEE)** # **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2020** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** **_______________________________________** ## **CONTENTS** ||**Pages**| |---|---| |Legal and Administration Information|3| |Report of the Trustees|4 – 9| |Structure, Governance and Management Report of the Trustees|10 – 11| |Report of the Independent Examiner|12| |Statement of Financial Activities|13| |Balance Sheet|14| |Notes to Financial Statements|15 – 19| |Detailed Income and Expenditure Account|20 – 22| |(not part of the statutory accounts)|| **Page 2** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **REPORT OF THE TRUSTEES AS AT 31 December 2020** ## **_______________________________________** The Trustees, who are also the directors of the company for the purposes of the Companies Act 2006, present their report with the consolidated financial statements for the year ending 31 December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practices (SORP) ‘Accounting and Reporting by Charities’. ## **Reference and Administration Details** Company registration number: 3264887 Charity registration number: 1059143 Registered Office: The Sail Lofts, Woodrolfe Road, Tollesbury Essex CM9 8SE ## **Directors/Trustees** The Directors who are also its Trustees for the purpose of charity law, and who served during the year were: Mr Neil Kennett-Brown (Chairman) Mr Keith Moscrop Mrs Geraldine Moscrop Revd Hugh Dibbens Mr John Kevan Mr Stephen Moller Miss Ruth Ellam Dr Jonathan Gay Mr Andrew Eastham Mr David Hillyer ## **Company Secretary** Mr David Hillyer ## **Chief Executive Officer** Mr Andrew Eastham **Bankers -** Barclays Bank Plc, 59 Newland Street, Witham, Essex CM9 2AJ **Independent Examiner -** Mr J D Bird, Chartered Management Accountant, 32 Downs Road, Maldon Essex CM9 5HG **Solicitor –** Anthony Collins Solicitors, 134 Edmund Street, Birmingham B3 2ES **Page 3** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **REPORT OF THE TRUSTEES YEAR ENDED 31 December 2020** ## **__________________________** ## **Our Aims and Objectives** ## **Purpose and Aims** Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are: - i) The proclamation of the Gospel of Christ together with the advancement of Christianity and - ii) The education of the public in the development of their physical, mental and spiritual capacities by the provision of recreational facilities, particularly but not exclusively sailing and allied facilities, so that they may grow to full maturity as individuals and members of society. The charity aims to: - a) Live out the Christian faith and Christian values as an intentional religious community and to communicate this faith and these values to our guests and the wider community through the quality of our welcome and care, and by taking appropriate opportunities to engage with them. - b) Ensure that all whom we serve, of whatever faith or none, receive equal welcome and care. - c) Contribute effectively to the public benefit and common good by encouraging the development of social skills, teamwork, respect for the natural environment, and better appreciation of outdoor activities. ## **Ensuring our work delivers its aims** We review our aims, objectives and activities each year in the context of our strategic business plan. The review looks at what we achieved and the outcomes of our work in the previous 12 months. This on-going process reviews our key strategies for the charity, the benefits it has brought to the groups, individuals, local community and people we work with. The review also helps to ensure our aims, objectives and activities remain focused on our stated purpose. ## **Achievements and Performance** ## **Overview** The Trust worked hard on a number of fronts in preparation for the 2020 season which was set to be one of our busiest ever. - We had a strong start to the year with good occupancy and feedback from our guests up until the Covid pandemic took hold in late March. - The year was fully booked when the pandemic started and we worked hard to support all our guests and groups, most of whom were then unable to visit as they had planned. - The pandemic had a significant impact on the Trust’s work in 2020. With guests no longer able to visit us, we made use of the Government’s Job Retention Scheme, and engaged in practical work around the site which had been planned for later in the year. We also looked at opportunities to progress works that were partially funded and possible at that time. - We have a large deficit budget for the forthcoming year, which we are working hard to balance through a range of cost saving measures, grants and other support. **Page 4** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** - **____________________** - Our four historic sail lofts had some more repairs in 2020, but again this was disrupted by the pandemic. We continue to be aware of some areas of rot that need attention on lofts A & B and hope to carry on with our repairs during 2021, when funds allow. - The youth group we launched in partnership with the local church called ‘ _Salt_ ’ continues to meet regularly and have adapted well to virtual meetings. The group is at capacity and they continued meeting through the pandemic, this has been a significant investment and benefit to the young people and staff team. - The Trust works with, and continues to make its facilities available to, local groups and individuals and enjoys its many links with the local community. Most of the 2020 plans have been rolled over to 2021 when we look forward to welcoming them back. - In 2020, 332 people have used the centre as guests during the year, the majority in the prelockdown period. - Our plans to grow our volunteer base of just over 100 individuals were also paused during 2020. It was a significant loss to the Trust not to have the benefit of their input, energy and enthusiasm but we were able to keep in touch virtually. We look forward to seeing more of them in 2021, and aim to continue to seek to engage new people in the Trusts’ work. - The organisational structure and team members worked well and we adapted successfully to different protocols, procedures and working patterns throughout the year. - The Trust’s buildings continued to support four other business enterprises and the site provides employment for almost 40 people including the FACT staff team. - Having reviewed the anticipated needs of our users over the next 25 years we have continued a re-development of our lightship, _Trinity,_ so she is better equipped and improved to meet the future needs of all our users, including those with disabilities. A project we have called Trinity3 and that started in 2016. - Within the Trinity3 project, we had tried to complete both Phases 4 & 5 in the winter of 2019/20 and this proved to be too much. The centre opened in early February but the new ensuite cabins were only partly constructed. Once it became clear that the pandemic was going to disrupt our summer season we invited contractors back to complete the works. This had challenges, not only with Covid-19, but with only part of the funding in place - we then were committed to raising the rest. With the support of many individuals, trusts and grants we were able to secure all the funding to complete the new cabins so they would be ready for the 2021 season. - Trinity3 Phase 5 is still to be completed, this involves some piling for the lightvessel to better secure her in the berth which will enable better accessible access to the main deck. The phase will also allow us to refurbish the galley, wash-up and saloon to better cater for the increased numbers that the ship can now accommodate. We are keen to complete this work but our priority is securing the long-term work of the Trust following the pandemic. - The total development of _Trinity_ , over five winters is expected to be a £1.6m project. The work has been completed in phases each winter between groups and we continue to promote and raise funds for this exciting, enabling project. - The pandemic did allow some of our team to address a number of maintenance projects around the site for the benefit of FACT & TSL. Many staged berths were refurbished and the lightvessel’s hull was repainted during August – ensuring that she not only looks smart but also that she is protected against the elements. - We were also able to secure a grant to purchase a second hand Drascombe Sailing Gig that will be added to the fleet and provide more options for larger groups, families and those with special needs or disabilities. The vessel will be refurbished ready for the 2021 season. - We are also continuing to measure the outcomes and impact of the Trust’s work which provides good evidence for the difference the Trust makes as well as encouragement for the staff and volunteers. This was of course limited in 2021 due to the pandemic. - _Plain Kate_ , our supplementary accommodation vessel for staff, was relaunched early 2020 after having had several timbers replaced and a retreatment of hot tar below the waterline. This work should ensure she remains watertight for several years to come. - We participated in the Tolls Vols organisation which was setup to serve the village community during the Covid-19 Pandemic. **Page 5** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **Our Context** The former lightvessel _Trinity_ provides the residential focus for the Trust’s work. The unique floating residential centre welcomes up to 48 guests and has accommodation for eight FACT staff. A second vessel called _Plain Kate_ provides additional staff accommodation for ten. The surrounding River Blackwater Estuary provides the setting for dinghy and seamanship training; it is also a site of international importance for wildlife conservation and study. Visitors come from schools, youth groups, churches and agencies serving people with special needs and those who are “at risk”. The emphasis is upon using adventure, recreation and education to develop life skills, self-confidence and competence in sports and appreciation of the world around. The Christian community, which is the heart of the centre, encourages people to consider life’s deeper values and truths in a challenging yet sensitive way. A core team of salaried staff run the Centre; they are supported by a gap-year staff team; a further group of sessional volunteers augment this staff team. A wider network of more than 2,000 supporters regularly donates funds, prays for and promotes the work of the Trust. The centre is very much the hub of our intentional religious community (IRC). The Trust owns the freehold of the 150-acre tidal saltmarsh site that surrounds the centre. The majority of the area has been set aside as an estuary conservation area. Approximately 30 acres of the property is devoted to yacht berthing, and together with an associated boat yard, they are administered by Tollesbury Saltings Limited, a company wholly owned by Fellowship Afloat Charitable Trust, which produces valuable income for the Trust and many other practical benefits. The Trust also owns four Grade II Listed weather boarded buildings some of which are directly used by the Trust, surplus buildings are let to local businesses and boat owners. ## **Staff Team** Andrew Eastham continued as Chief Executive leading the Trust’s work. The whole team comprised seven full time staff, four-part time staff and five staff on our trainee instructor /gap-year programme. There were no employees whose emoluments for the year exceeded £60,000. In addition, sessional volunteers provided a significant contribution to the Trust’s staffing provision, approximately 10,000 hours of such work is freely given each year, although this was significantly impacted during the pandemic. Trustees are grateful for the huge commitment and dedication that the staff team and volunteer team put into the running of the Centre; it’s their Christian commitment and vibrancy that is at the heart of the success of the Trust, and in making it such a strong and effective Christian community. **Page 6** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **Booking Analysis** ||**2020**|**2019**| |---|---|---| |Residential bookings|10|62| |Residential bed nights|494|5099| |Day groups|8|13| |Adults attending|165|1065| |School children attending|123|985| |Youth Group attending|1|492| |Special Needs attending|23|59| |People attending RYA training|22|84| |Total people attending*|332|2542| * = does not include our work with our regular volunteers ## **Bursary Fund** During the year a total of 42 people were assisted to attend various events and courses onboard from this fund, a significant increase on the previous year. A total of £3,365 was disbursed during the year. Apart from having limited means, these individuals can often come with special needs, and benefit greatly from a residential experience. We are pleased by the ongoing commitment that donors have to this fund, and we continue to seek funds so that we can expand our support in this area. Due to the pandemic extra work has been put into building this fund as we expect great need as we enter 2021. ## **Governance** The Trustees had four board meetings during the period; a regular management meeting (3M) comprising Trustees and staff undertook operational planning and support. A staff and Trustee retreat day was held in January. Individual Trustees also provided significant personal contribution in areas such as literature design and writing, financial management, legal, pastoral, fund raising, HR, catering, compliance checks and sailing instruction all in the context of our mission and strategic plan. ## **Financial Review** Against the backdrop of limited resources and uncertainty over funding coupled with the current financial climate it has been a tough year. Nevertheless, the charity, with the aid of sound financial management and the support of Trustees, staff and volunteers generated a positive conclusion to the year and developed a survival intact plan for 2021 as the pandemic continues. ## **Principal Funding Sources** The Trust seeks to subsidise its fees as appropriate to fit the needs of its wide range of guests. The Trust has four main income streams from fees, donations, rents and Tollesbury Saltings Ltd. All of these have been a challenge during 2020, we are particularly grateful for the good donation and government support that helped mitigate the loss of so many bookings to the pandemic. ## **Donations** We continue to benefit from the generosity of individuals and grant making trusts, without this contribution, our programme of serving visitors and developing volunteers would not be possible. We are grateful to all who support us financially. We continue to put effort in to maintaining and growing this area as it is important in providing new projects, maintaining the centre and subsidising our fees. **Page 7** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **Reserves Policy** In compliance with the Charity Commission’s guidance Charities and Reserves (CC19), the Trustees have examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible assets held by the charity should be at least £70,000. These reserves are needed to bridge the gap between the spending and receiving of resources, and to cover unplanned emergency repairs and other expenditure. ## **Investment Policy** Cash reserves are held on deposit with Virgin Charity Account and the CAF Bank to ensure commitments can be met when required. All investments are reviewed regularly. ## **Building & Letting** We are pleased to report that all our surplus buildings were let during 2020, and we are continuing to look at some much needed renovations and alterations, particularly on the road side elevation. ## **Communications** Our annual _Lightwaves_ newsletter was published in January, and was mailed to almost 2,000 addresses; a monthly news sheet called _Prayer Necessities_ was regularly sent to almost 600 addresses to support the monthly _Ship to Shore_ prayer meeting, this occasion welcomes supporters and staff, and it is designed to further the work of the Trust through discussion, prayer and worship. ## **Overseas Mission Work** Our commitment to serve Christian mission projects in other countries continued throughout the year. Links continue with: - Northern Malawi through the Raven Trust; - Albania through the Shkëndijë project and the RrKK network; - A number of FACT volunteers are personally involved with overseas projects; such work is communicated and encouraged through our newsletter network. ## **Tollesbury Saltings Limited** Tollesbury Saltings Ltd (TSL) is FACT’s wholly owned subsidiary responsible for managing the boat yard and berthing operation. TSL, our ‘ _Natural Marina’_ , contributes a useful source of income to FACT and much more besides. The visitors to FACT see a vibrant waterside scene as part of their experience. The boats moored on the saltings and the activities of the boatyard are a key part of this scene. They bring many visitors to the site who would otherwise not be aware of FACT’s presence or see the work we do. The boat owners and their friends and families form a lively waterside community and provide links to the village. The way TSL manages the yard and moorings and treats its customers is therefore very much part of FACT’s public face. The company pays FACT £30,000 p.a. as rent for its premises. **Page 8** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **Plans for the Future Period** - To navigate the pandemic well, while supporting our guests, community and volunteers and to ensure that we are here to serve them as soon as they are able to return. - We are keen to conclude the Trinity3 project to ensure _Trinity_ is equipped for the next 25 years of service and will continue meeting the needs of our guests, staff and volunteers. At the end of 2020 we have a relatively small last phase to complete the whole project – this adds some piling to secure the lightvessel, new accessible entrance and a refurbished galley, wash-up and saloon. - We continue to look at the replacement of the single-hander fleet that is up to 15 years old and invest in our fleet and land based activities to ensure the best experience for our guests. - To continue boosting our regular giving through the £5p/m campaign, including developing giving from younger members of the community. - - To continue the fundraising & works on the four historic sail lofts, particularly lofts A & B. - We continue to promote and raise funds for the bursary fund that supports so many individuals and groups. ## **Public Benefit** The centre is open to all people aged 8 and over. The Trust benefits individuals, groups, staff, volunteers and the local community in a wide range of ways. These include: - Life skills - Transferable employability skills - Education – through school residentials, adventure activities, through Royal Yachting Association, European Ropes Courses Association High Ropes, Archery GB courses and leadership & development training. - Community links – with Parish Council, Tolls Vols Covid-19 organisation, local primary schools, youth groups, sailing clubs and churches. - Engagement with and work with the local wildlife reserves. - Promotion & development of physical, emotional and spiritual wellbeing. **Page 9** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT REPORT OF THE TRUSTEES** ## **Governing Document** The Company was formed on 17 October 1996. By an agreement dated 31 March 1997 the Assets and Liabilities of Fellowship Afloat Charitable Trust (a Registered Charity founded in 1968) were transferred to the Company. The activities of the Trust were continued from 1[st] April 1997. ## **Recruitment & Appointment of Trustees** The directors of the company are also charity Trustees for the purposes of charity law and under the company’s Articles are known as members. Every effort is made to ensure that we have a broad range of skills on the board, with training and support where appropriate. Members of the board volunteer and support the centre throughout the year in various forms to participate with the Trust’s every day work. The trust is also committed to maintain safeguarding verifications and other legal eligibility requirement for all appointments. ## **Risk Management** A structured matrix of potential risks (Governance, Financial, External and Compliance) is in place, and regular review is maintained. The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that necessary steps can be taken to reduce those risks as necessary. ## **Organisation** The Directors/Trustees determine the general policy of the Trust. The day to day management of the Trust is delegated to the staff team members led by the CEO. The Trust has a team of experienced lead instructors who deliver the various residential programmes. A team of volunteer instructors support this core team in the delivery under their supervision. ## **Related Parties** The only related party is the subsidiary, Tollesbury Saltings Ltd (see page 8 above and note 8 in the accounts). ## **Financial Results** The results for the year to 31 December 2020 are set out on pages 13 to 23. During the year it was possible to top up our project funds with a total of £70000 from the operating surplus and £6000 from our contingencies fund. ## **Resources** As stated in Note 7 to the accounts, the funds are split between those held for restricted purposes and those available for the day to day requirements of the Trust. ## **Restricted Funds** Funds raised for specific purposes are disclosed in the notes and show balances held towards future expenditure. The Trust’s assets are sufficient to meet its obligations. **Page 10** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** ## **____________________** ## **Statement of Trustees’ Responsibilities** Company law requires the Directors/Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those accounts the Trustees are required to: 1. Select suitable accounting policies and then apply them consistently; 2. Make judgements and estimates that are reasonable and prudent; 3. Prepare the Accounts on the going concern basis unless it is inappropriate to assume that the company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. This report and the accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime in accordance with the Companies Act 2006. Approved by the Board on …………………………………….and signed on its behalf by: Neil Kennett Brown Chairman **Page 11** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **INDPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 December 2020** ## **_______________________________________** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31/12/2020 which are set out on pages 10 to 15. ## **Responsibilities and basis of the report** As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - the accounts do not accord with such records; or • the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or - •the accounts have not been prepared in accordance with the Charities SORP (FRS102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: J D Bird Chartered Management Accountant 32 Downs Road Essex CM9 5HG Dated: **Page 12** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** |**INCOMING RESOURCES**
Donations received
Fees
Other income
Bank interest
**Total Incoming Resources**
**RESOURCES USED**
**Direct Charitable Expenditure**
Expenditure on projects
Bursary fund subsidies
Lightvessel costs
Activity costs
Premises costs
Support costs
**Total Charitable Expenditure**
Trust Administration costs
**Total Resources Expended**
**NET INCOMING RESOURCES**
Balance brought forward
Transferred (to)/from funds:
Trinity Developments
Boats and Equipment Fund
Sail Lofts Re-furbishment Fund
Plain Kate Accomodation Fund
Contingencies Fund
Assets Capitalised
**Balance carried forward**
.|**Year end**
**31/12/20**
**Year end**
**31/12/19**
**Year end**
**31/12/20**
**Year end**
**31/12/19**
**£**
**£**
**£**
**£**
198310
135363
235951
371609
41242
301411
193114
84511
575
2854
0
**433241**
**524139**
**235951**
**371609**
0
0
389726
537310
0
0
3485
15240
24846
59004
71652
58881
207431
233853
15859
28982
24849
32171
101367
111625
**358493**
**436653**
**480722**
**640413**
1647
2012
**360140**
**438665**
**480722**
**640413**
**73101**
**85474**
**(244771) (268804)**
337854
330380
1083106
716497
(70000)
(84000)
80000
45000
(4000)
8000
0
20000
0
5000
(6000)
6000
0
0
380977
557413
**334955**
**337854**
**1295312**
**1083106**
.
.
.
**Unrestricted Funds**
**Restricted Funds**| |---|---| **Page 13** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **BALANCE SHEET AS AT 31 DECEMBER 2020** |**Notes**
**FIXED ASSETS**
Tangible Assets
2
Investment
3
**CURRENT ASSETS**
Stocks
Debtors
4
Cash at bank
Virgin Account (cash reserve)
Cash balances
CAF bank account
CAF bank account -- Bursaries
**CREDITORS**
Due within 1 year
5
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
Provisions
5
**TOTAL NET ASSETS**
**RESTRICTED FUNDS**
6
Lightvessel Refurbishment Fund
Bursary Funds
Trinity Development Funds
Plain Kate Accommodation Fund
Boats and Equipment Fund
J P Award Fund
Sail Lofts Fund
Sit On Tops Fund
Training Fund
Restricted Fund Assets Capitalised
**Total Restricted Funds**
**UNRESTRICTED FUNDS**
7
Contingencies Fund
Charitable Fund
**Total Unrestricted Funds**
.
**TOTAL FUNDS**|**Year end**
**31/12/20**
**Year end**
**31/12/19**
**£**
**£**
201209
201589
100
100
**201309**
**201689**
11290
11210
25323
5957
160041
101967
76353
75979
159
185
12755
12071
0
0
**285921**
**207369**
52275
71204
**233646**
**136165**
**434955**
**337854**
100000
**334955**
**337854**
10000
16000
324955
321854
**334955**
**337854**
.
**334955**
**337854**
**Unrestricted Funds**|**Total**
**Year end**
**31/12/20**
**Year end**
**31/12/19**
**Year end**
**31/12/20**
**£**
**£**
1135126
823898
1336335
100
**1135126**
**823898**
**1336435**
0
0
11290
0
0
25323
3132
29791
163173
0
0
76353
0
0
159
130655
212282
143410
26399
17135
26399
**160186**
**259208**
**446107**
0
0
52275
**160186**
**259208**
**393832**
**1295312**
**1083106**
1730267
100000
**1295312**
**1083106**
**1630267**
6306
6941
6306
26856
18020
26856
97577
195160
97577
2745
5591
2745
13867
17068
13867
2053
570
2053
6956
7421
6956
376
376
376
3449
8060
3449
1135127
823899
1135127
**1295312**
**1083106**
**1295312**
10000
324955
**334955**
.
.
.
**1295312**
**1083106**
**1630267**
**Restricted Funds**| |---|---|---| **Page 14** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. Accounting Policies** ## _**Basis of preparation**_ The accounts are prepared under the historic cost convention and in accordance with the financial reporting standards for smaller entities and the Statement of Recommended Practice, Accounting by Charities. ## _**Going Concern Basis in light of the Covid-19 Pandemic**_ Activities ceased effectively from lock down in late March 2020 and by early July all income from activities had dried up. Nevertheless, with the government help and generous donations from our supporters the Trust ended 2020 with an operating surplus of £73101 and most of our reserves intact. There is also provision for further costs resulting from Covid 19 during 2021. (see note 5) . As at the end of June 2021 many of our groups are able and planning to return and our activity income is gradually being restored. The government help will of course be wound down and certainly the second half of the year will be challenging. However the Trustees are confident that the Trust will break even on the year or have small deficit which can be coverd by reserves leaving sufficient to cover the early part of 2022 before the season starts as is usual practice. Therefore the 2020 accounts have been prepared as usual on a full going concern basis. ## _**Tangible Fixed Assets**_ Depreciation is provided on all tangible fixed assets in use other than freehold land, at rates and bases cacluated to write off the cost less residual value on each asset over its expected useful life as follows: |llows:|| |---|---| |Freehold Buildings|0%| |Lightship (Trinity) & Plain Kate Development|4%| |Site Improvements & High Ropes|10%| |Equipment|25%| ## _**Income**_ Income comprises donations, fees and charges for the year less bursaries, allowances and excluding VAT. **Page 15** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## _**Expenditure**_ Expenditure is allocated to expenses headings either directly or apportioned according to time spent including: |time spent including:||| |---|---|---| ||**Year end**|**Year end**| ||**31/12/20**|**31/12/19**| ||**£**|**£**| |Depreciation of owned assets|69829|62068| |Pension costs|27461|22581| ## _**Activity Costs**_ Supplies of materials are written off as the expenditure is incurred. ## _**Pension Scheme**_ The Trust contributes to a Defined Contributions Pension Scheme for permanent staff at 8%. There were no prepaid or outstanding contributions at 31 December 2020 or 31 December 2019. ## **2. Tangible Fixed Assets** ||**Unrestricted Funds**|**Unrestricted Funds**|**Unrestricted Funds**|**Restricted Funds**|**Restricted Funds**||| |---|---|---|---|---|---|---|---| ||**Freehold**||**Total**||||| ||**Land and**||**Unrestricte**|**Trinity and**||**Total**|| ||**Buildings**|**Equip-ment**|**d**|**Plain Kate**|**Equip-ment**|**Restrict ed **|**Total**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**| |**Cost**|||||||| |As at 1 January 2020|201209|291730|492939|1247949|45918|1293867|1786806| |Additions|0|80|80|380977|0|380977|381057| |Disposals|0|0|0|0|0|0|0| |**As at 31 December 2020**|**201209**|**291810**|**493019**|**1628926**|**45918**|**1674844**|**2167863**| |**Depreciation**|||||||| |As at 1 January 2020|0|291350|291350|436678|33291|469969|761319| |Charge for the year|0|460|460|65157|4592|69749|70209| |On disposals|0|0|0|0|0|0|0| |**As at 31 December 2020**|**0**|**291810**|**291810**|**501835**|**37883**|**539718**|**831528**| |**Net Book Values**|||||||| |As at 1 January 2020|201209|380|201589|811271|12627|823898|1025487| |**As at 31 December 2020**|**201209**|**0**|**201209**|**1127091**|**8035**|**1135126**|**1336335**| The directors believe that the market value of the assets may be in excess of the stated net book value shown in the accounts. However as this is not material to the ongoing operations of the Trust the directors have decided not to incur the expense of obtaining a professional valuation. ## **3. Investment in Tollesbury Saltings Ltd** The investment in the subsidiary company comprises the entire share capital of 100 ordinary shares of £1 each and the ratained profits of the company. As at the company's year end of 31 March 2020 these stood at £34930. The accounts have not been consolidated. **Page 16** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **4. Debtors** |**4. Debtors**||||| |---|---|---|---|---| ||**Unrestricted**|**Funds**|**Restricted**|**Funds**| ||**Year end**|**Year end**|**Year end**|**Year end**| ||**31/12/20**|**31/12/19**|**31/12/20**|**31/12/19**| ||**£**|**£**|**£**|**£**| |**Due within 1 year:**||||| |Trade debtors|4805|6616||| |Other debtors|20518|(659)||| |**Total debtors**|**25323**|**5957**|**0**|**0**| |**5. Creditors**||||| ||**Unrestricted**|**Funds**|**Restricted**|**Funds**| ||**Year end**|**Year end**|**Year end**|**Year end**| ||**31/12/20**|**31/12/19**|**31/12/20**|**31/12/19**| ||**£**|**£**|**£**|**£**| |**Due within 1 year:**||||| |Trade creditors|12686|29483||| |Fees invoiced in advance|29083|42783||| |PAYE and VAT|4176|(4707)||| |Other creditors|6330|3645||| |**Total**|**52275**|**71204**|**0**|**0**| |**Provisions:**||||| |Covid19 provision for 2021|100000|||| |**Total**|**100000**|**0**|**0**|**0**| ## **6. Restricted Funds** |**6. Restricted Funds**|||| |---|---|---|---| |||**Year end**|**Year end**| |||**31/12/20**|**31/12/19**| |||**£**|**£**| |**Lightvessel Refurbishment Fund**|||| |As at 1 January 2020||6941|10069| |Donations||5860|5835| |Spending||6495|8963| |**As at 31 December 2020**||**6306**|**6941**| ||.||| |**Bursary Fund**|||| |As at 1 January 2020||18020|20529| |Donations||12321|12731| |Bursaries||3485|15240| |**As at 31 December 2020**||**26856**|**18020**| ||.||| **Page 17** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** |||**Year end**|**Year end**| |---|---|---|---| |||**31/12/20**|**31/12/19**| |||**£**|**£**| |**Trinity Development Fund Phase 1**|||| |As at 1 January 2020||3139|3033| |Donations||0|106| |Transferred from operating Surplus||0|0| |Spending||0|0| |**As at 31 December 2020**||**3139**|**3139**| ||.||| |**Trinity Development Fund Phase 2**|||| |As at 1 January 2020||18331|129803| |Donations||0|0| |Transferred to Phase 4 (Ph3 2019)||13831|56242| |Spending||0|55230| |**As at 31 December 2020**||**4500**|**18331**| ||.||| |**Trinity Development Fund Phase 3**|||| |As at 1 January 2020||54246|209463| |Donations||4250|189531| |Transferred from Phase 2||0|56242| |Transferred from operating Surplus||0|40000| |Spending||33444|440990| |**As at 31 December 2020**||**25052**|**54246**| ||.||| |**Trinity Development Fund Phase 4**|||| |As at 1 January 2020||119444|0| |Donations||199144|124394| |Transferred from Phase 2||13831|0| |Transferred from Boats and Equipment Fund||10000|0| |Transferred from operating Surplus||70000|5000| |Spending||347533|9950| |**As at 31 December 2020**||**64886**|**119444**| ||.||| |**Plain Kate Accommodation Fund**|||| |As at 1 January 2020||5591|1737| |Donations||0|0| |Transferred from operating Surplus||0|5000| |Spending||2846|1146| |**As at 31 December 2020**||**2745**|**5591**| ||.||| |**Boats and Equipment Fund**|||| |As at 1 January 2020||17068|20051| |Donations||12066|13407| |Transferred to Trinity Development Phase 4||10000|0| |Transferred from operating Surplus||6000|8000| |Spending||11267|24390| |**As at 31 December 2020**||**13867**|**17068**| **Page 18** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ||**Year end**|**Year end**| |---|---|---| ||**31/12/20**|**31/12/19**| ||**£**|**£**| |**J P Award Fund**||| |As at 1 January 2020|570|0| |Donations|2250|570| |Spending|767|0| |**As at 31 December 2020**|**2053**|**570**| ||.|| |**Sail Lofts**||| |As at 1 January 2020|7421|0| |Donations|60|15035| |Transferred from operating Surplus|0|20000| |Spending|525|27614| |**As at 31 December 2020**|**6956**|**7421**| ||.|| |**Sit On Tops Funds**||| |As at 1 January 2020|376|376| |Donations|0|0| |Spending|0|0| |**As at 31 December 2020**|**376**|**376**| ||.|| |**Training Fund**||| |As at 1 January 2020|8060|440| |Donations|0|10000| |Spending|4611|2380| |**As at 31 December 2020**|**3449**|**8060**| ||.|| |**Restricted Funds Asset Capitalisation**||| |As at 1 January 2020|823899|320996| |Additions|380977|557413| |Depreciation Charge|69749|54510| |**As at 31 December 2020**|**1135127**|**823899**| . **Page 19** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **7. Unrestricted Funds** |**7. Unrestricted Funds**|||| |---|---|---|---| |||**Year end**|**Year end**| |||**31/12/20**|**31/12/19**| |||**£**|**£**| |**Contingencies Fund**|||| |As at 1 January 2020||16000|10000| |Transferred from Operating Surplus||0|6000| |Income||0|0| |Allocations for projects||6000|0| |**As at 31 December 2020**||**10000**|**16000**| ||.||| |**Charitable Fund**|||| |As at 1 January 2020||321854|320380| |Surplus/(deficit) for the year||73101|85474| |Allocated to funds||(70000)|(84000)| |**As at 31 December 2020**||**324955**|**321854**| ||.||| ## **8. Related Party Transactions** The Trust's subsidiary company Tollesbury Saltings Ltd (the company) has a lease in respect of the premises and grounds it uses at a rent of £30000 p.a. The Trust and the company have made inter company charges for overheads and supplies at cost during the year. **Page 20** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020** |**Donated Income**
Donations
Covenants and gift aid
**Total Donated Income**
**Fees**
Sailing activities
Educational
Other activities
**Total Fees**
**Other**
Rents
Shop and sundry sales
Sundry receipts
**Total Other Income**
**Total Income**
**(Excluding interest)**|**Year end**
**31/12/20**
**Year end**
**31/12/19**
**£**
**£**
83442
53123
114868
82240
**198310**
**135363**
15532
105129
22335
182326
3375
13956
**41242**
**301411**
53081
52713
431
3282
139602
28516
**193114**
**84511**
**432666**
**521285**
**Unrestricted Funds**|**Year end**
**31/12/20**
**£**
235951
0
**235951**
**0**
**0**
**235951**
**Restricted**|**Year end**
**31/12/19**
**£**
371609
0
**371609**
**0**
**0**
**371609**
**Funds**| |---|---|---|---| **Page 21** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020** ||**Unrestricted Funds**|**Unrestricted Funds**|**Restricted**|**Funds**| |---|---|---|---|---| ||**Year end**|**Year end**|**Year end**|**Year end**| ||**31/12/20**|**31/12/19**|**31/12/20**|**31/12/19**| ||**£**|**£**|**£**|**£**| |**Direct Charitable Expenditure**||||| |Projects|||389726|537310| |Bursary Fund|||3485|15240| |**Total Direct Charitable Expenditur**|**0**|**0**|**393211**|**552550**| |**Lightvessel Expenses**||||| |Food|11844|36898||| |Lighting and heating|9162|10865||| |Water rates|569|1701||| |Cleaning and consumables|2010|3522||| |Waste|(25)|147||| |Maintenance Trinity|604|2202|6495|8963| |Telephone|682|659||| |Depreciation: Lightvessel|0|0|65157|49918| |Lightvessel equipment|0|0||| |Walkway|0|3010||| |**Total Lightvessel Expenditure**|**24846**|**59004**|**71652**|**58881**| |**Activity Costs**||||| |Salaries and NIC|180391|185657||| |Volunteer staff|15460|20261||| |Other staff costs|2967|9630||| |Fleet maintenance and fuel|6476|8524|11267|24390| |Course materials and expenses|916|3127||| |Shop purchases for resale|1141|1726||| |Depreciation: Sailing equipment|80|4928||| |Climbing wall|0|0||| |High Ropes|||4592|4592| |**Total Activity Costs**|**207431**|**233853**|**15859**|**28982**| |**Premises Costs**||||| |Insurance|22205|21883||| |Electricity|1603|1111||| |Sail lofts re-furbishment|2483|4898||| |General maintenance|(1442)|4279||| |**Total Premises Costs**|**24849**|**32171**|**0**|**0**| **Page 22** **FELLOWSHIP AFLOAT CHARITABLE TRUST Limited by Guarantee** **.** ## **DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020** |**Year end**
**31/12/20**
**Year end**
**31/12/19**
**£**
**£**
**Support Costs**
Staff salaries, pension and NIC
76559
71488
Prinitng and stationery
3532
2732
IT
2851
12854
Telephone
1470
1339
Postage
1855
1431
Promotional and display
1971
4914
Motor expenses and travelling
3040
3489
Bank charges
741
643
Subscriptions
1486
1945
Miscellaneous expenses
7862
10790
Depreciation: Office equipment
0
0
**Total Support Costs**
**101367**
**111625**
**Trust Adminstration Costs**
Auditors remuneration
0
0
Accountancy charges
0
0
Legal and professional
1647
2012
**Total Trust Adminstration Costs**
**1647**
**2012**
**Total Expenditure**
**360140**
**438665**
**Surplus/(Deficit) on Ordinary Activ**
**72526**
**82620**
**(Before interest)**
Bank interest received
575
2854
Bank interest paid
0
0
**Net Interest Received/(Paid)**
**575**
**2854**
**Surplus/(Deficit) on Ordinary Activ**
**73101**
**85474**
.
.
.
**Unrestricted Funds**|**Year end**
**31/12/20**
**Year end**
**31/12/19**
**£**
**£**
**0**
**0**
**0**
**0**
**480722**
**640413**
**(244771)**
**(268804)**
**0**
**0**
**(244771)**
**(268804)**

.
**Restricted Funds**| |---|---| **Page 23** # **FELLOWSHIP AFLOAT CHARITABLE TRUST (LIMITED BY GUARANTEE)** ## **INDEPENDENT FINANCIAL REVIEW REPORT** **FOR THE YEAR ENDED 31 DECEMBER 2020** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** **____________________** ## **INDPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 December 2020** ## **_______________________________________** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31/12/2020 which are set out on pages 13 to 23 of the Annual Report and Accounts.. ## **Responsibilities and basis of the report** As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - the accounts do not accord with such records; or • the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or - •the accounts have not been prepared in accordance with the Charities SORP (FRS102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: J D Bird Chartered Management Accountant 32 Downs Road Essex CM9 5HG Dated: **Page 2**