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2025-12-31-accounts

FELLOWSHIP AFLOAT CHARITABLE TRUST (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

_________

Pages
Legal and Administration Information 3
Report of the Trustees 4 – 10
Structure, Governance and Management Report of the Trustees 11 – 12
Report of the Independent Examiner 13
Statement of Financial Activities 14
Balance Sheet 15
Notes to Financial Statements 16 – 17
Detailed Income and Expenditure Account 18 - 19
(not part of the statutory accounts)

Page 2

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

LEGAL AND ADMINISTRATION INFORMATION AS AT 31 December 2025

_________

The Trustees, who are also the directors of the company for the purposes of the Companies Act 2006, present their report with the financial statements for the year ending 31 December 2025. 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

Chief Executive Officer

Mr Andrew Eastham

Independent Examiner – Antony Holdsworth FCMA

E. H. Taylors LLP, 203 London Road, Hadleigh, Essex SS7 2RD

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 2025

________

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:

The charity aims to:

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 2025 season, which resulted in a successful year:

Page 4

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

Page 5

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

Our Context

The former light vessel 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 & volunteer 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 team of year-out staff (trainee instructors) and 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 salt marsh 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 an income stream 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.

Page 6

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

Staff Team

Andrew Eastham continued as Chief Executive leading the Trust’s work. The whole team comprised nine full time staff, six part-time staff and seven 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.

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.

Booking Analysis

2025 2024
Residential bookings 61 56

Residential bed nights		 4133 4094
Day groups 10 10

Adults attending		 498 472

School children attending		 640 680
Young people (not attending as pupils) 395 351
Open day 440 340

Youth groups attending		 11 7
Special needs attending 106 82
People attending RYA training 85 88

Total people attending*		 1973 1843

Bursary Fund

During the year a total of 354 people were assisted to attend various events and courses on board from this fund, a significant increase on the previous year. A net total of £31,142 of benefit was given during the year. Apart from having limited means, these individuals can often come with special educational or physical needs, and benefit greatly from a residential experience. We are pleased by the ongoing commitment that individual donors and grant making trusts have to this fund, and our volunteers through various sponsored events. We continue to put extra work into building this fund further as we expect an even greater need as we enter 2026 with continued cost of living pressures and reduced economic confidence.

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, fundraising, HR, safeguarding, catering, compliance checks and sailing instruction all in the context of our mission and strategic plan. Trustee succession planning has been an active topic, and two new trustees were agreed and we will be joining the board in 2026.

Financial Review

We continue to acknowledge that the impact of the pandemic has disrupted much in our society and our work, and that our recovery and rebuilding continue within the difficult financial climate we are all currently facing. This coupled with limited resources and uncertainty in some areas remains a challenge. 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 continues to move forward. We were able to successfully raise funds for a number of needs; and make enabling decisions which lays good foundations for the future.

Page 7

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

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 presented challenges during 2025 and we continue to seek to grow our donations and funding so that we can support any individual or group who wishes to come, and also to develop new projects and activities that are required.

Donations

We continue to benefit from the generosity of individuals and grant making trusts, without these contributions, 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 into maintaining and growing this area as it is important in enabling new projects, maintaining the centre and subsidising our fees.

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 £75,000. 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

While the majority of our surplus buildings were let, two offices were empty at the start of the year and we struggled to let them due to the economic uncertainty. However, we were able to end the year with a full complement of tenants for 2026. This reduced our rental incomes for the year. As usual, we continued our annual work of maintaining and repairing the sail lofts. This mainly comprised repainting Loft A, although one aspect of Loft D was done early as it required attention too.

Also, thanks to a legacy, some gifts and some supporter loans, we were able to complete the purchase on a local 3-bed semi-detached property in February. This was required for staff accommodation for those team members who need to live close to the centre. Previously, over the last 25 years, the Trust has been able to secure rental properties in the village through friends, but this had become increasingly difficult to maintain. This freehold property will provide a good secure accommodation solution to benefit our team.

It was fully occupied in the Spring and has been a significant blessing to the staff and trust, we are grateful to all those who supported us and enabled this purchase.

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 meetings. This occasion welcomes supporters and staff, and it is designed to further the work of the Trust through discussion, prayer and worship. We also continue to develop our engagement on social media and through our website.

Page 8

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

Our Wider Network

Many FACT friends and supporters are active as leaders in other organisations, enabling mutual informal sharing of ideas, knowledge, experience and inspiration. Sectors involved range from community work in the UK to overseas development, as well as commerce and industry. This benefits the Trust enormously, while giving it opportunities to contribute out of its own wealth of experience and expertise.

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.

Plans for FACTs Future

Page 9

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

Public Benefit

The centre is open to all people aged eight and over.

The Trust benefits individuals, groups, staff, volunteers and the local community in a wide range of ways. These include:

Page 10

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

Page 11

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.

Neil Kennett Brown Chairman

Page 12

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

________

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 December 2025

_______

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31/12/2025 which are set out on pages 14 to 19 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:

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:

Antony Holdsworth FCMA Chartered Management Accountant E. H. Taylors LLP. 203 London Road, Hadleigh, Essex SS7 2RD.

Dated:

Page 13

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

INCOMING RESOURCES
Total Incoming Resources
RESOURCES USED
Direct Charitable Expenditure
Total Charitable Expenditure
Total Resources Expended
NET INCOMING RESOURCES
Balance carried forward
Donations received
Fees
Other income
Bank interest
Expenditure on projects
Bursary fund subsidies
Lightvessel costs
Activity costs
Premises costs
Support costs
Trust Administration costs
Balance brought forward
Transfers from/(to) restricted funds
Transfers from/(to) designated funds
Restricted Fixed Asset Additions
.		 628601
605563
607646
20955
698125
138971
357864
126038
5728
0
0
69851
364305
55134
116273
2083
555630
107780
13760
0
.
Unrestricted
Year end
31/12/25
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 600740
126447
119080
581093
206212
251104
584103
206212
251104
16637
(79765)
(132024)
555630
1509350
1620670
119062
126447
119080
360955
110019
10704
0
62679
44496
0
31142
36801
85487
75238
66510
337790
31195
61735
35216
5958
41562
122600
0
0
3010
0
0
342621
1620670
1906503
55372
(107780)
(55372)
141000
0
(132000)
0
76225
33563
.
.
Funds
Restricted Funds
Year end
31/12/24
Year end
31/12/25
Year end
31/12/24
£
£
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 119080
119080
Funds
Year end
31/12/24
£
)
)
251104
251104
44496
36801
66510
61735
41562
0
0

)
)

Page 14

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

BALANCE SHEET AS AT 31 DECEMBER 2025

FIXED ASSETS
CURRENT ASSETS
CREDITORS
NET CURRENT ASSETS
CREDITORS
TOTAL NET ASSETS
FUNDS AND RESERVES
TOTAL FUNDS
Investment
Stocks
Debtors
Bank curent account and cash
Bank deposits
Due within 1 year
Due after 1 year
Restricred Funds
Representing Fixed Assets
Designated Funds
Charitable Fund
.
Tangible Assets
Notes
2
3
4
5
5
6
6		 593566
268455
181367
698125
698125
593466
100
14462
4178
170685
79130
87088
76808
0
0
20000
678125
.
Unrestricted
Year end
31/12/25
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 208113
427834
347517
555630
555630
208013
100
12310
2336
335054
78134
80317
0
0
0
141000
414630

Funds
Year end
31/12/24
£
)
)
)
)
)
)
)
)
)		 1382388
126962
126962
1509350
1509350
1382388
0
0
(37493)
164455
0
0
126962
1382388
0
0
.

Restricte
Year end
31/12/25
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 1371781
248889
248889
1620670
1620670
1371781
0
0
27997
220892
0
0
248889
1371781
0
0
.
.
d Funds
Year end
31/12/24
£
)
)
)
)
)
)
)
)
)
)
)
)		 1975954
308329
2207475
1975854
100
14462
4178
133192
243585
395417
87088
76808
Total
Year end
31/12/25
)
)
)
)
)
)
)
)
)
)
)
)
2207475
126962
1382388
20000
678125
)
)
)
)

)

Page 15

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

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

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.

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:

ows:
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.

Expenditure

Expenditure is allocated to expenses headings either directly or apportioned according to time spent including:

Year end Year end
31/12/25 31/12/24
£ £
Depreciation of owned assets 81373
)		 61434
)
Pension costs 35052
)		 31240
)

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 2025 or 31 December 2024.

2. Tangible Fixed Assets

Unrestricted Funds Unrestricted Funds Unrestricted Funds Unrestricted Funds Unrestricted Funds Restricted Funds Restricted Funds Restricted Funds Restricted Funds
Freehold Equipment
Land and and Total Un- Trinity and Total
Buildings Vehicles restricted Plain Kate Equipment Restricted Total
£ £ £ £ £ £ £
Cost
As at 1 January 2025 202199 ) 307378 ) 509577 ) 2153812 ) 45918 ) 2199730 ) 2709307 )
Additions 352019 ) 49189 ) 401208 ) 76225 ) 0 ) 76225 ) 477433 )
Disposals 0 ) 0 ) 0 ) 0 ) 0 ) 0 ) 0 )
As at 31 December 2025 554218 ) 356567 ) 910785 ) 2230037 ) 45918 ) 2275955 ) 3186740 )
Depreciation
As at 1 January 2025 0 ) 301564 ) 301564 ) 782031 ) 45918 ) 827949 ) 1129513 )
Charge for the year 0 ) 15755 ) 15755 ) 65618 ) 0 ) 65618 ) 81373 )
On disposals 0 ) 0 ) 0 ) 0 ) 0 ) 0 ) 0 )
As at 31 December 2025 0 ) 317319 ) 317319 ) 847649 ) 45918 ) 893567 ) 1210886 )
Net Book Values
As at 1 January 2025 202199 ) 5814 ) 208013 ) 1371781 ) 0 ) 1371781 ) 1579794 )
As at 31 December 2025 554218 ) 39248 ) 593466 ) 1382388 ) 0 ) 1382388 ) 1975854 )

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 retained profits of the company. As at the company's year end of 31 March 2025 these stood at £40905. 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 2025

4. Debtors

4. Debtors
Unrestricted Funds Restricted Funds
Year end Year end Year end Year end
31/12/25 31/12/24 31/12/25 31/12/24
£ £ £ £
Due within 1 year:
Trade debtors 4178 ) 2336 )
Other debtors 0 ) 0 )
Total debtors 4178 ) 2336 ) 0 ) 0 )
5. Creditors
Unrestricted Funds Restricted Funds
Year end Year end Year end Year end
31/12/25 31/12/24 31/12/25 31/12/24
£ £ £ £
Due within 1 year:
Trade creditors 20159 ) 17314 )
Fees invoiced in advance 55146 ) 54188 )
PAYE and VAT 3334 ) 5619 )
Other creditors 8449 ) 3196 )
Total 87088 ) 80317 ) 0 ) 0 )
Due after 1 year:
Loans from supporters 76000 )
Tenant deposits 808 )
Total 76808 ) 0 ) 0 ) 0 )
6. Funds
Openiing Allocated Closiing
Balance Donations to/(from) To/(from) Balance
01/01/25 and Income Spending Operations other funds 31/12/25
£ £ £ £ £ £
Restricted Funds:
Bursary Fund 36596 ) 32469 ) 31142 ) 37923 ) .
Light Vessel Refurbishments 40788 ) 5511 ) 9620 ) 36679 ) .
Trinity Development Completion 85433 ) 495 ) 46731 ) 30000 ) 9197 ) .
Plain Kate Accomodation 605 ) 605 ) 0 ) .
Boats and Activities Equipment 23019 ) 71366 ) 31195 ) 44780 ) 18410 ) .
Jack Petchy Award Scheme 1621 ) 3380 ) 4951 ) 50 ) .
Sail Lofts 17487 ) 120 ) 5958 ) 11649 ) .
Staff Accomodation 33000 ) 33000 ) 0 ) .
Training 10340 ) 13106 ) 10392 ) 13054 ) .
248889 ) 126447 ) 140594 ) 107780 ) 0 ) 126962 )
.
Designated Funds:
Staff Accomodation 131000 ) 13760 ) 131000 ) 13760 ) 0 )
Historic Sail Lofts Upkeep Provision 0 ) (10000) (10000) 20000 )
Contingency 10000 ) 10000 ) 0 )
141000 ) 13760 ) 131000 ) 3760 ) 0 ) 20000 )
.

7. 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 17

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025

Donated Income
Total Donated Income
Fees
Total Fees
Other
Total Other Income
Total Income
(Excluding interest)
Direct Charitable Expenditure
Lightvessel Expenses
Total Lightvessel Expenditure
Activity Costs
Total Activity Costs
Premises Costs
Total Premises Costs
Total Direct Charitable Expenditure
Donations
Covenants and gift aid
Sailing activities
Educational
Other activities
Rents
Shop and sundry sales
Projects
Bursaries
Food
Lighting and heating
Water rates
Cleaning and consumables
Waste
Maintenance Trinity
Telephone
Depreciation: Lightvessel Equipment
Salaries and NIC
Volunteer staff
Other staff costs
Fleet maintenance and fuel
Course materials and expenses
Shop purchases for resale
Boats
Activity equipment
Insurance
Electricity
Sail lofts re-furbishment
General maintenance
Depreciation:Staff House F&F
Sundry receipts
Depreciation: Sailing equipment		 138971
357864
126038
622873
0
69851
364305
55134
53144
85827
92270
250242
15352
71097
4393
50548
0
0
44361
16412
1647
6410
417
216
388
0
300718
23926
20486
3209
5280
1400
6013
897
38705
4393
0
10934
1102
2376
Unrestricted
Year end
31/12/25
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 119062
360955
110019
590036
0
85487
337790
35216
30367
88695
78913
262221
19821
63859
4925
41235
0
0
47051
21061
1521
11759
103
3099
893
0
251360
29207
24611
17710
6774
3764
0
1196
30179
3555
1237
245
0
3168
Funds
Year end
31/12/24
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 126447
0
0
126447
93821
75238
31195
5958
126447
0
62679
31142
0
0
0
0
0
9620
0
65618
0
0
0
31195
0
0
0
0
0
0
5958
0
0
0
Restricted
Year end
31/12/25
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 119080
0
0
119080
119080
0
Funds
Year end
31/12/24
£
)
)
)
)
)
)
81297
66510
61735
41562
44496
36801
0
0
0
0
0
9687
0
56823
0
0
0
61735
0
0
0
0
0
0
41562
0
0
0
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)

)
)
)
)

Page 18

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)

DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025

Support Costs
Total Support Costs
Trust Adminstration Costs
Total Trust Adminstration Costs
Total Expenditure
Surplus/(Deficit) on Ordinary
Activities (Before interest)
Net Interest Received/(Paid)
Surplus/(Deficit) on Ordinary
Activities
Staff salaries, pension and NIC
Printing and stationery
IT
Telephone
Postage
Promotional and display
Bank charges
Subscriptions
Miscellaneous expenses
Depreciation: Office equipment
Vehicles
Auditors remuneration
Accountancy charges
Legal and professional
Bank interest received
Bank interest paid
.
Motor expenses and travelling		 116273
2083
607646
15227
5728
20955
77842
3492
6672
1164
2869
4465
533
2115
7920
2117
3250
0
0
2083
5728
0
.
3834
Unrestricted
Year end
31/12/25
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 122600
3010
584103
5933
10704
16637
85043
2874
7392
1473
2469
4842
463
2046
11611
247
0
0
0
3010
10704
0
.
4140
Funds
Year end
31/12/24
£
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)		 0
0
206212
(79765)
0
(79765)
.
Restricted
Year end
31/12/25
£
)
)
)
)		 0
0
251104
(132024)
Funds
Year end
31/12/24
£
)
)
)
0
(132024)
)

Page 19

FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee) fact INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 December 2025 I report to the charity trustees on my examination of the accounts of the Company for the year ended 3111212025 which are set out on pages 14 to 19 of the Annual Report and Accounts. Responslbllities and basis of the report As the charitys 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 (Ihe 2006 Acr). Having satisfied myseff 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 Acf). In carying out my examirkgtion. I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 ACL Independent examlnerfs slatement The CoMpan￿S gross income exceeded £250,000 and l am qualified to undertake the 8xamination 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 Irue 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 concems 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 understsnding of the accounts to be reached. Signed: Antony Holdsworth FCMA Chartered Management Accountant E. H. Taylors LLP. 203 LorKlon Road. Hadleigh, Essex SS7 2RD. Dated: