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2021-09-30-accounts

		Page
Legal and administrative	information
Board ofTrustees report		2-4
Independent Examiner's	report
Statement offInancial activities
Balance Sheet
Notes tothe accounts		8-17

		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		2021	2021	2021	2020
	Notes
income and endowments	from:
Voluntary income		48,842	18,556	67,398	60,705
Activities for generating	funds	10,900		10,900	15,834
Investment income		42		42	305
Other income		25,157		25,157	25,000
Total income and endowments		84,941	18,556	103,497	101,844
Expenditure on:
Costs ofraising funds		96
Costs ofactivities charitable activities		74,950	31,606	106,556	62,004
Total expenditure		75,046	31,606	106,652	62,090
Net income/(expenditure)	forthe year	9,895	(13,050)	(3,155)	39,754
Transfers between funds
Net Movement in funds		9,895	(13,050)	(3,155)	39,754
Reconciliation offunds:
Total funds brought forward at 1 October 2020		136,025	59,435	195,460	155,706
Total funds carried forwaml at 30September 2021		145,920	46,385	192,305	195,460

AS AT30SEP	TEM	BER	2021
						2021		2020
				Notes
Fixed assets
Tangible assets Heritage assets						3,953 33,166		5,269 33,166
Investments						1
						37,120		38,436
Current assets
Stocks					750		466
Debtors Cash at bank	in hand			10	2,061 ~160 15		551 ~1574 9
					162,926		158,625
Current liabilities
Creditors: Amounts one year		falling due within					160
Net current assets						155185		357024
Net assets						192,305		195,460
Funds Restricted				12		46385		59435
Unrestricted	-General					120,920		f36,025
Unrestricted	—Museum		Improvement	Reserve		25000
						192,305		195,460

			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
						Revised
			2021	2021		2020
			E			R
Voluntary income Donations and grants Friends Association contributions Gift aid			46,870 1,632	18,556	65,426 1,632	58,777 1,180 ~7
			48,842	18,558	67,398	60,705

			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2021	2021	2021	2020
			R	R	R	R
Donations fiom subsidiary Shop and cafe income		company	8,SOO 2,000 10,SOO		8,SOO 2,000 10,900	13,016 2,818 15,834
l~attment	income
			Unrestricted		Total	Total
				Funds	Funds	Funds
				2021	2021	2020
				R	R	R
Deposit account interest

Other	income	Unrestricted	Total	Total
		Funds	Funds	Funds
		2021	2021	2020
			E
Covid	19Grant	25,157	25,157	25,000

Total expenditure		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2021f	2021	2021f	2020
Costs ofGenerating funds: Shop expenditure					86
Charitable activities: Utilities, Security services, Phone and broad band Insurance Advertising and subscriptions Covid 19expenses Boatshed costs Rent and service charge General management costs IT, Computers and website Depreciation		3,575 3,315 877 36 1,778 45,007 501 8,398 1,316		3,575 3,315 877 36 1,778 45,007 501 8,398 1,316	3,319 3,446 526 368 2,739 38,867 873 352 1,760
Project costs: Boat Restoration Gallery expenses 25 Anniversary costs		371 5,996 2,112	31,606	371 37,602 2,112	7,641
Governance:
Accountancy - Independent	examination	16 8		1 668	2 113
		75,046	31,606	106,652	62,090

7.	Tangible fixed assets
		Land and	Plant and
		Buildings	Equipment	Total
			R	R
	Cost
	At 1October 2020	59,010	39,978	98,988
	Additions
	At30September 2021	59,010	39,978
	Depreciation At 1October 2020 Charge forthe year	59,010	34,709 1331i	93,719 ~11
	At30September 2021	59,010	36,025	95,035
	Net book value at30September 2021		3,953	3,953
	Net book value at30September 2020		5,269

the collection will have a much higher value, and have plans to update ths va	luations over the winter 2022-23.
	Total
Ilarket Value	R
At30September 2021 and 30September 2020	33,166
Nst book value
At30September 2021 and 30September 2020	33,168

9.	Investments			2021	2020 f
	Investment in subsidiary company
	Summary profit and loss account Classic Turnover	Boat Restorations	Ltd	2021	2020
					E
				12,537	14,841
	Other income Cost ofsales and administrative expenses			~3637	~25
	Operating profit Distribution made in year to Classic Boat	Centre Trust		8,900 ~89 0	13,016 ~13016
	Retained in the subsidiary
	The assets and liabilities ofthe subsidiary	were:
	Current assets Creditors: amounts falling due within one	year		601 L66I)	601 L661
	Total assets less current liabilities
	Aggregate share capital and reserves
10.	Debtors			2021	2020
					136
	Prepayments Other debtors			g 061	~30
				2,061	466
11.	Creditors: Amounts falling due within one year			2021f	2020
	Amounts owed to group undertakings Service charges payable Other creditors			601 6,140 ~000	601 10 0
				7,741	1,601

Movement in funds -	Current year
		At				At
		1 October	Incoming	Outgoing		30September
		2020 f	resources	resources	Transfers F	2021f
General fund		136,025	84,941	(75,046)	(25,000)	120,920
Designated Museum	Development
Fund					25,000	25,000
Restricted funds
Collections at risk		482	1,000	(1,482)
Herepath Shenton Trust Museum Development fund		5,732 46,385		(5,732)		46,385
Fidelity Foundation East Cowes Town Council Hover		6,836	1 000	6,836 ~00
LTHLF			9,900	(9,900)
SEMDP			6,656	(6,656)
Total Restricted Funds		59,435	18,556	(31,606)		46,385
Total funds		195,460	103,497	(106,652)		192,305

Movement in funds - C	omparative	year
		At				At
		1 October 2019	incoming resources	Outgoing i'esoui'ces	Transfers	30September 2020
General fund		92,036	94,436	(57,475)	7,028	136,025
Restricted funds
Collections at disk Herepath Shenton Trust Museum Development fund Fidelity Foundation		48670 15,000	1,676 5,732	(1,194) (~28 ) (1,136)	(7,028)	482 5,732 ~85 6,836
Total Restricted Funds		63,670	7,408	(4,615)	(7,028)	59,435
Total funds		155,706	101,844	(62,090)		195,460

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Funds	Funds	Funds	Funds	Funds	Funds
		2021	2021	2021	2020	2020	2020
		F
Fixed assets		3,953		3,953	38,436		38,436
Stock		750		750	750		750
Debtors Cash at Creditors	bank and in hand and accruals	2,061 113,730 ~7741)	46,385	2,061 160,115 ~7741	466 97,974 ~1601)	59,435	466 157,409 ~6~1
		145,920	46,385	192,305	136,025	59,435	195,460
14.	Financial Assets and Liabilities
						2021	2020
Financial	assets comprise debtors and cash and bank balances					162,176	157,875
Financial	liabilities comprise creditors and accruals					7741	1 601
						154,435	156,274

The Trust has ongoing commitments in respect ofservice c	harges as part ofthe gallery lease payable by	instalments.
	2021	2020
		R
Under one year Bet)r)reen one and five years After five years	6,026 24,104 2~36 2
	53,732

16. Comparative statement	offinancial activities
		Unrestriced	Restricted	Total	Total
		Funds	Funds	Funds	Funds
					Revised
		2020	2020	2020	2019
Income and endowments from:
Voluntary income		53,297	7,408	60,705	70,467
Activities for generating funds		15,834		15,834	17,126
Investment income		305		305	438
Other income		25000		25 000
Total income and endowments		94,436	7,408	101,844	88,031
Expenditure on: Costs of raising funds		86		86	990
Costs ofactivities charitable	activities	57,389	4,615	62,004	81,428
Total expenditure		57,475	4,615	62,090	82,418
Net income/(expenditure) forthe year		36,961	2,793	39,754	5,613
Transfers between funds		7,028	(7,028)
Net IIIiovement in funds		43,989	(4,235)	39,?54	5,613
Reconciliation offunds:
Total funds brought forward	as at 1 October 2019	92,036	63,670	155,706	150,093
Total funds carried forward at30September 2020		136,025	59,435	195,460	155,706