# **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: - 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 2025 season, which resulted in a successful year: - 2025 saw continued recovery from the disruption caused by the pandemic, with a growing calendar of bookings, stable staff team, and continued re-engagement of our volunteers. - Our 2025 calendar was stronger, with fewer weekends being kept clear. Some variance in booking numbers was noted, some of which was attributed to the economic climate and some to smaller cohorts in schools. Overall, we enjoyed a busy and productive season. - We received consistently positive feedback from our user groups and this resulted in an 87% re-booking rate, leading to a strong 2026 calendar of bookings. **Page 4** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** ## **____________________** - We recognise some schools & groups are still recovering their numbers from the pandemic, and this led to us supporting a number of groups with lower numbers on occasions throughout the year. The goal being to help their groups recover by enabling time away together. - Despite a challenging operating budget, we were able to ensure a positive financial outcome for the year. This shows the continued strengthening of the calendar since the pandemic, and our success in managing our budgets while still delivering a high-quality experience to our guests. We also continued a range of cost saving measures, as well as seeking fundraising through grants and other support. - Our four historic sail lofts continued to have maintenance throughout the year. This centred around concluding the painting of Loft A, the first of the four. The new paint system has been continued, which we hope will better protect the buildings from the elements. - The Trust enjoys many links with the local community and continues to take opportunities to work with, and make its facilities available to, local groups and individuals. - The youth group we launched in partnership with the local church called ‘ _Salt_ ’ continues to meet regularly, led by members of our staff team. The group has seen a cohort move up into volunteering onboard. New members have been added, with a few spaces available, so that we can continue to invest in and benefit local young people and also our staff team. - In 2025, we had strong demand from our regular school groups; and weekend bookings increased on 2024. In total, 1,973 guests used the centre during the year and the feedback was very encouraging. - For the second time, the Bursary Fund was boosted by volunteer participation in the London to Brighton cycling event, which raised almost £10,000. Also, the Big Give campaign was championed by many supporters, and raised £7,802. We are also grateful to donations from many individuals and Grant Making Trusts to this important fund. The Bursary Fund (see report later in these documents) made a real difference to many young people’s lives by enabling them to stay onboard, and by investing in them through their time onboard. - We were pleased to have a full team complement for 2025, although recruitment had been a challenge for some posts. This has allowed us to better support the delivery onboard, and to potentially increase bookings. - We continue to invest significantly in our staff & volunteers, providing a wide range of training opportunities to develop their skills. This is another way that we grow and invest in the next generation. - Our plans to grow our volunteer base continued during 2025, with an emphasis on nurturing younger volunteers. This investment will take time but is bearing fruit. Our volunteers engaged in many ways over the course of the season and significantly benefited the Trust with their input, expertise and enthusiasm. We look forward to seeing them in 2026, and continue to seek to engage new people in the Trusts’ work as we go forward. - The organisational structure and team are working well in what has been a very busy period, coping well with additional project management and fundraising, as well as delivering consistently high-quality residential and adventure experiences. - The Trust’s buildings continued to support six other business enterprises, and the site provides employment for almost 40 people including the FACT staff team. - 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 climate, and as a result our rental income for the year was reduced. However, we were able to end the year with a full complement of tenants. **Page 5** **FELLOWSHIP AFLOAT CHARITABLE TRUST (Limited by Guarantee)** - **____________________** ● With the generous support of many individuals, trusts and grants, we were able to ensure we were in a good position for the start of the 2026 season. - Having reviewed the anticipated needs of our users over the next 25 years we began Trinity3, a project to re-develop our floating centre, _Trinity_ , which started in 2016. The project was completed in 2024 and has ensured _Trinity_ is better equipped and improved to meet the future needs of all our users, including those with accessibility needs. Final snagging work continued into 2025, following a very tight construction schedule. - The transformation of the lightvessel is truly remarkable and she is a fantastic venue for our guests. The Trust is hugely thankful to the donors, grant making trusts, contractors, staff and volunteers who have caught the vision and helped to enable this project to be completed – it’s a truly significant achievement, and allows more young people to enjoy a life changing stay onboard _Trinity_ and equips the centre for another 25 years of service _._ - We were also able to invest in our fleet thanks to support from funders. We replaced two Wayfarer sailing dinghies and also our aging minibus – both a significant blessing to the staff, guests and volunteers. Thanks to some other funding we were also able to replace the majority of our waterproofs and buoyancy aids ready for the 2026 season, and some aging IT equipment, all of which will be of great benefit. - We are also continuing to measure the outcomes and impact of our work, which provides good evidence for the difference the Trust makes, as well as encouragement for the staff and volunteers. - We continued to work with Tollesbury Parish Council to serve the village community. At our annual open day, we welcomed almost 400 people, many of whom were from the local area. ## **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| * = does not include our work with our regular volunteers, or other free events ## **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** - To continue to invest in resources that allow us more opportunities to serve guests onboard, while benefiting the community, staff and volunteers that we are here to serve. - With the Trinity3 project complete, we look forward to enjoying the success of this huge project which has been all about ensuring _Trinity_ is equipped for the next 25 years of service and will continue meeting the needs of our guests, staff and volunteers. - We continue to look to invest in our fleet and land-based activities to ensure the best experience for our guests. This includes looking at redeveloping our indoor activity space. - To continue boosting our regular giving to the Trust through the £10p/m campaign, including developing giving from younger members of the community. - To continue fundraising for maintenance and refurbishing work of our four historic sail lofts, and associated buildings, while considering how we can make better use of them for the future. - To continue our work to reduce our impact on the environment by being more sustainable, following the installation of the heat pump, solar panels and upgrades to insulation and glazing. - We continue to promote and raise funds for the Bursary Fund that supports so many individuals and groups. - To continue to strengthen our staff and our volunteer teams. **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: - Life skills - Transferable employability skills - Education – through school residentials, adventure activities, Royal Yachting Association training courses, European Ropes Course Association High Ropes, Archery GB courses and leadership & development training. - Community links – with Parish Council, 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 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: - 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: 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**
**£**
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
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)
)
)
)
)
)
)
)
)
**)**
**)**
**)**
**)**
**)**
**)**
**)**
**)**|**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
)
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**)**
**)**
**)**
**)**| **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**
**£**
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**)**
**)**|**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**
**£**
)
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**)**
**)**
**)**
**)**
**)**|**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: