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||||Page|
|---|---|---|---|
|Legal and administrative||information||
|Board ofTrustees<br>report|||2-4|
|Independent<br>Examiner's||report||
|Statement<br>offinancial|activities|||
|Balance Sheet||||
|Notes to the accounts|||8-17|





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||||||Unrestricted|Restdcted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|Funds|Funds|
||||||2022|2022|2022|2021|
||||Notes||F|E|||
|Income and endowments||from:|||||||
|Donations<br>and legacies||||2|70 109|3,000|73,109|76,737|
|Charitable<br>activities|||||14,056||14,056|1,561|
|Investment<br>income|||||79||79|42|
|Other income|||||4,000||4,000|25,157|
|Total income and|endowments||||88,244|3,000|91,244|103,497|
|Expenditure<br>on:|||||||||
|Raising funds|||||75||75||
|Charitable<br>activities|||||65,130|3,000|88,130|106,556|
|Total expenditure|||||85,205|3,000|88,205|106,652|
|Net income/(expenditure)||forthe year|||3,039||3,039|(3,155)|
|Revaluation<br>ofheritage assets|||||391,834||391,834||
|Transfers<br>between|funds||||||||
|Net Movement<br>in|funds||||394,873||394,873|(3,155)|
|Reconciliation<br>of|funds:||||||||
|Total funds brought|forward|at 1 October|2021||145,920|46,385|192,305|195„460|
|Total funds carried forward at 30September||||2022|540,793|46,385|587,178|192,305|





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|||||||2022||2021|
|---|---|---|---|---|---|---|---|---|
|||||Notes||E||E|
|Fixed assets|||||||||
|Tangible assets||||||2,964||3,953|
|Heritage assets||||||425,000||33,166|
|Investments||||||1||1|
|||||||427,965||37,120|
|Current assets|||||||||
|Stocks|||||750||750||
|Debtors||||10|6,015||2,061||
|Cash at bank in hand|||||167447||160115||
||||||174,212||162,926||
|Current<br>liabilities|||||||||
|Creditors: Amounts|falling||due within||||||
|one year||||11|~14999||7741||
|Net current assets||||||159213||155 185|
|Net assets||||||587,178||192,305|
|Funds||||12|||||
|Restricted —Museum||Development||Fund||46385||46385|
|Unrestricted —General||||||515,793||120,920|
|Unrestricted —Designated|||Museum|Development||25000||25000|
|||||||587,178||192,305|






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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|Funds|
|||||2022|2022|2022|2021|
|Voluntary|income|||||||
|Donations||||54,979||54,978|47,310|
|Donations|from subsidiary||company|8,740||8,740|8,900|
|Grants||||740|3,000|3,740|18,555|
|Friends Association||contributions||500||500|1,632|
|Gift aid||||5 150||5150|340|
|||||70,109|3,000|73,109|76,737|



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||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||Funds|Funds|Funds|Funds|
||2021f|2021f|2022f|2021<br>F|
|Admissions|14,056||14,056|1,561|



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||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||Funds|Funds|Funds|
||||2022f|2022f|2021f|
|Deposit|bank|interest|79|79|42|





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|Other income|||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||||Funds|Funds|Funds|
||||||||2022|2022|2021|
||||||||K|E|E|
|Covid 19Grant|||||||4,000|4,000|25,157|
|Total expenditure||||||||||
|||||||Unrestricted|Restricted|Total|Total|
|||||||funds|funds|funds|funds|
|||||||2022|2022|2022|2021|
|||||||E|E|E|E|
|Costs ofgenerating|||funds:|||||||
|Shop expenditure||||||75||75|96|
|Charitable<br>activities:||||||||||
|Utilities, Security||services, Phone and broad band||||3,858||3,858|3,575|
|Insurance||||||5,013||5,013|3,315|
|Advertising<br>and|subscriptions|||||3,796|3,000|6,796|877|
|Covid 19expenses|||||||||36|
|Boat shed costs||||||4,229||4,229|1,778|
|Rent and service||charge||||53,489||53,489|45,007|
|General<br>management||||costs||3,877||3,877|501|
|IT, Computers|and||website|||1,351||1,351|8,398|
|Depreciation||||||989||989|1,316|
|Project costs:||||||||||
|Boat Restoration||||||649||649|371|
|Gallery expenses||||||2,693||2,693|37,602|
|25s Anniversary||costs|||||||2,112|
|UF50 Event||||||2,030||2,030||
|Governance:||||||||||
|Accountancy<br>- Independent|||||examination|3156||3156|1 668|
|||||||85,205|3,000|88,205|106,652|





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|7.|Tangible fixed assets||||
|---|---|---|---|---|
|||Land and|Plant and||
|||Buildings|Equipment|Total|
||||E||
||Cost||||
||At 1 October 2021|59,010|39,978|98,988|
||Additions||||
||At 30September 2022|59,010|39,978|98,988|
||Depreciation||||
||At 1 October 2021|59,010|36,025|95,035|
||Charge for the year||989|989|
||At 30September 2022|59,010|37,014|96,024|
||Net book value at 30September 2022||2,964|2,964|
||Net book value at 30September 2021||3,953|3,953|



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|Market Value|Totalf|
|---|---|
|At 30September 2021|33,166|
|Revaluation|391834|
|At 30September 2022|425,000|
|Net book value||
|At 30September 2021|33,166|
|Revaluation|391834|
|At 30September 2022|425,000|





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|9.|Investments|Investments||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
|||||||||E|E|
||Investment|in subsidiary||company||||||
||Summary|profit and loss account Classic Boat Restorations|||||Ltd|||
|||||||||2022|2021|
|||||||||E|E|
||Turnover|||||||12,856|12,537|
||Cost ofsales and||administrative||expenses|||(4~116|~3637|
||Operating|profit||||||8,740|8,900|
||Distribution|made|in year|to Classic Boat||Centre Trust||~8740|~8900)|
||Retained<br>in the subsidiary|||||||||
||The assets|and liabilities||ofthe subsidiary||were:||||
||Current assets|||||||601|601|
||Creditors:|amounts|falling due within one|||year||(6600|(600)|
||Total assets less current|||liabilities||||||
||Aggregate|share capital and reserves||||||||
|'IO.|Debtors|||||||||
|||||||||2022<br>E|2021f|
||Other debtors|||||||6015|2 061|
|||||||||6,015|2,061|
|11.|Creditors:|Amounts<br>falling due within one year||||||||
|||||||||2022|2021|
|||||||||E||
||Amounts<br>owed to||group|undertakings||||400|601|
||Service charge and other payables|||||||13,599|6,140|
||Other creditors|||||||1 000|1 000|
|||||||||14,999|7,741|





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|Movement|in fun|ds|- Current year||||||
|---|---|---|---|---|---|---|---|---|
|||||At||||At|
|||||1October|Incoming|Outgoing||30September|
|||||2021<br>E|resources<br>E|resources<br>6|Revaluation<br>f|2022<br>E|
|General fund||||120,920|88,244|(85,205)|391,834|515,793|
|Designated|Museum||Development||||||
|Fund||||25,000||||25,000|
|Restdcted|funds||||||||
|Re-opening|marketing||grant||3,000|(3,000)|||
|Museum<br>Development|||fund|46 385||||46385|
|Total Restricted||Funds||46,385||||46,385|
|Total funds||||192,305|91,244|(88,205)|391,834|587,178|



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|Movement|in funds|- Comparative|year|||||
|---|---|---|---|---|---|---|---|
||||At||||At|
||||1 October|Incoming|Outgoing||30September|
||||2020|resources|resources|Transfers|2021|
|||||E|E|E|F|
|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<br>Shenton Trust|||5,732||(5,732)|||
|Museum<br>Development||fund|46,385||||46,385|
|Fidelity Foundation|||6,836||6,836|||
|East Cowes|Town Council Hover|||1,000|(1,000)|||
|LTHLF||||9,900|(9,900)|||
|SEMDP||||6656|~6656|||
|Total Restricted Funds|||59,435|18,556|(31,606)||46,385|
|Total funds|||195,460|103,497|(106,652)||192,305|





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||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|Funds|Funds|Funds|
||||2022<br>F|2022|2022f|2021<br>E|2021<br>6|2021f|
|Fixed assets|||427,965||427,965|37,120||37,120|
|Stock|||750||750|750||750|
|Debtors|||6,015||6,015|2,061||2,061|
|Cash at|bank and|in hand|121,062|46,385|167,447|113,730|46,385|160,115|
|Creditors|and accruals||~14999||~14999|~7741)||~7741)|
||||540,793|46,385|587,178|145,920|46,385|192,305|
|14.|Financial|Assets and Liabilities|||||||
||||||||2022|2021|
||||||||6|E|
|Financial|assets comprise debtors and cash and bank balances||||||174,212|162,176|
|Financial|liabilities|comprise|creditors and accruals||||14999|~7741)|
||||||||159,213|154,435|



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|The Trust has ongoing commitments<br>in respect ofservice c|harges as part ofthe gallery lease payable<br>by|instalments.|
|---|---|---|
||2022|2021|
||E|F|
|Under one year|6,026|6,026|
|Between one and five years|24,104|24,104|
|After five years|17576|23602|
||47,706|53,732|





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|16.<br>Comparative<br>statement offinancial activities|16.<br>Comparative<br>statement offinancial activities|16.<br>Comparative<br>statement offinancial activities|||||
|---|---|---|---|---|---|---|
||||Unrestriced|Restricted|Total|Total|
||||Funds|Funds|Funds|Funds|
|Income and endowments||from:|2021<br>6|2021f|2021<br>E|2020<br>E|
|Voluntary<br>income|||48,842|18,556|67,398|60,705|
|Activities for generating|funds||10,900||10,900|15,834|
|Investment<br>income|||42|||305|
|Other income|||25 157||25 157|25000|
|Total income and endowments|||84,941|18,556|103,497|101,844|
|Expenditure<br>on:|||||||
|Costs ofraising funds|||96||96|86|
|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<br>funds|||||||
|Net Movement<br>in funds|||9,895|(13,050)|(3,155)|39,754|
|Reconciliation<br>offunds:|||||||
|Total funds brought<br>forward||as at 1 October 2020|136,025|59,435|195,460|155,706|
|Total funds canied forward||at 30September 2021|145,920|46,385|192,305|195,460|