Registered company number.. 03650377 (England and Wales) Registered charity number: 1073048 Report of the Trustees and Unaudited Financial Statements for the year ended 31 October 2024 for The Rona Trust
The Rona Trust Contents of the Financial Statements for the year ended 31 October 2024 Page Report of the Truslees Independeiit Examinevs Report Siatement of Financial Activities Balance Sh¢et Noies to the Financial Statements 10-15
The Rona Trust Reporl of Ihe Trustees for the year ended 31 October 2024 The trustees. who are also direeiors of the charity for ihe purposes of the Companies Act 2006, present their report wilh the finaiicial stalements of the charity for the year ended J l October 2024. The iruslees have adopted the provisions of the Charities Staiemenl of Recommended Practice {SORP) "Accounting and Reporting by Charities" effective January 2019. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Number 03650377 (England and Wales) Registered ChArity Number 1073048 Registered Office Unit l a Uiiiver5al Marina Sarisbury Green Southampton Hampshire S0317ZN Trustees Williani Whitehouse-vaux (Chairman) Alan Ri¢hardson Andrew Searle Andrew Wright Becky Shaw C.hrisiopher Beane Christopher Matthews Claire Cleaver (appointed 14103124) Duncan Farrant Dawn Bishop Giles Thorley William Heathcoal Amory Company Secretary Sarah Woodman lappoinled 31101124) Brld Barrett (resigned 31101124) Independent Examlner Jonaihan Bardolph ACA. FCCA, BFP I si Floor, Unil 12 Compass Point Ensign Way Hamble Soiithampton Hampshire S0314RA
The Rona Trust Report of the Trustees for the year ended 31 October 2024 BAnkers Lloyds Bank plc 43 Wesl Street Fareham Hampshire P016 7FJ Flagstone Investment Group I si Floor Clareville House 26.27 Oxenden Sireei London SWIY 4EL
The Rona Trust Report of ihe Trustees for the year ended 31 October 2024 ACTIVITIES AND OBJECTIVES FOR THE PUBLIC BENEFIT The Rona Trusi is a charity Ihat operates thrie large sail training y'achts under the naine of the Rona Sailing Project. Th¢ Righi Honourable Derick Heaihcoat Amory, Viscount Amory,. sthrted the charity to provide opportunities through sail training for young people to dei'elop a sense of responsibility. resourcefulness and teammork thai M'ill help th¢ni throughout their lives. Thcse original aims remain relevanl and the charity continues to have a SLibstantial and benelicial impact on ihe many voung peoplL ihai sail with li. While lh¢ original ethos remains unchanged, this objective has been eytended io people with physical, sensory or l¢aming disabilities. to those overcoming physical or mentrdl health issues and those in trcatment and recovery from drug and alcohol addi¢tion. Sail training has proved to be equally beneficial to people facing these chall¢nges. The I'ruste¢s confirm ihai ihey have referred to th¢ guidance giv¢n by the Charity Commissioners on public benefil M'hen T¢vi¢wing th¢ charii), s aims and objc¢tiv¢s and whLll planning futur¢ activitics. GOVERNING DOCUMENT 'I'hL chariiy was inilially fortned as a privat¢ charilable ventlirc in 1960 Ifh¢n known as thL Lond()n Sailing Pr(ijectl and fomialised as a charitabl¢ settlLinent on l sl July 1961. The Rona I'rusl was lirst rL'glStered as a charity on l si DeLemr 1966 and becaniL a ¢ompaiiy limit¢d by guaraiikc on I si Nov¢mber l()98 ILharity number.. 10730481. GOVERNANCE AND MANAGEIMENT -l-hL W(Irk ()t ihe ¢harily is i)vers¥¥n and In()nilored by a b()ard of Trustees. N(Inty ofthe TrusleLS has dnv b¢nLfiLial inleresi in the compan>. ai)d lill give th¥ir %erviLe% on <1 V()lunlary basi4. All ihe Trusices are m¢mbcrs ()I' Ihe conipdny and guaraiiiee lo contribute £ l in ihc ev¢nt ()f the cnmpany bLing wound up. TruslL'cs arc regularly briefed ()n Ihcir legal tsbligalions and IrequLnil)' mect key empl()yccs and other Trustees. Thcv are provided with mana8ein¢ni accounls, business plans and relevant govcrndnce doeum¢ntation. 'l-he operations ()f thc chariiy arc overseLn by the Project Director who is supported by a leam of four administrutive and techiiical siaft. 'I'he Projeci Director rcgularly consults i¥ith thc Tru%l¢cs and seeks tl)cir appr()val on kL'y strategiL and op¢raiional issues. The cl)ariiv is vLry tortunate to have the services of morc than 300 8killed and enihusiasii¢ voluntcers. I'he voluni¥¥rs run the voyages. h¢lp io Inainiain the J'achis and contribut¢ lo the success of the charil>' in Inarty oiher ways. RISK MANAGEMENT Th¢ charity rc¢ognises that there are inherent risks a8so¢ialed iyiih ils op¢ralions and financial activities. To miligaie these risks. Ihe charity has cstablished robust risk managemcnt poliLies and procedure%. including regular monitoring and rLVIL'M" of financial Iransa¢tions and activiiies. Thc charity a150 Inaintain5 approprialc insuran¢¢ Loverage lo prDt¢¢l againsl potential losses. D¢spile these measur¥s. Ihere is always a possibility that unf()r¢secn events Inav occur that could impact th¢ charity s rinancial posilion. The charitv is conimitted to proactiv¢lv identifying and nianagin8 risks to Iiiinimis¢ their impact and nsure the long-lerni susiainability of the organisation. Together M'iih the Project Dirc¢lor, the charit) s Trustees regiilarly rcview. and se$S the risks and take appropriate a¢lions to manage them furth¥r &s necLssary. SAFEGUARDING The charitv is commilled lo creating a safe and secure environment for everyone who sails. works or volunteers M'iih Ihe Trust. A robusl safeguarding policj. and assoeialed procedures are in place, which ar¢ regularly reviewed and upda*d lo ensure that the highest standards of saleguarding are met.
The Ronx Trust Report of the Trustees for the year ended 31 October 2024 Concerns raised aye iaken extremely seriously and there is a clear reporting process in pla¢e to ensure that these are dealt '1th proi))pil)' and appropriaiely. The welfare and protection of ¢veryone involved with the Trust are prioritised and we continue to slrive for excellence in our safeguarding practices. All Trustees. staff and volunieers regularls, undergo safeguarding training to ensure that they have the necessarv skills, knowlcdgc and experience to ii'orL w'ith trainees in a safe and dppropriate i))anncr. Enhaneed eheeks ure Inade wilh the Disclosure and Barring Service for all volunteers. SAFETY -I'hc Triistees and ihe Project Director ensure thai Ihe Trust's sailing vessels are M'ell maintsined and full), ¢omply with the appropTiate cenificaiion laid doivn bv the Maritinie and Coastguard AgenLV. The Trust has d¢velop¢d un indusirv l¥ading Safety Mana8emeni sY¢M which is fre4uently r¢viewed and upduied, A rigorous selection and promoiion proc¢dur¢ 14 in place fur appointing volunl¢crs lo positions of respon.8ibilit>' on the ya¢hts. This inLludes cnsuring ihat dppropriale in.dale Royal YaL'hting Asso¢iation qualifications and commercial ndorsemLiils. wherl n¢Lessary, are held. 'I"hL process for the appointmenl of skippers is parti¢ularlv thorough and dimanding. 'fhL perf(Irmance of tskippers 18 ¢105¢1y nioniiored. and th¢y are requirLd to undcrtdke regular revalidalion assL$8niLiits 10 demonqlraie they are niainiaining iliL' high¢sl Icvel of Lompet¢ncc. At the beginning of ¢a¢h ycar, the I rust runs lamiliarisation training w¢¢k¢nd5 for Ihc voluntc¢rs to prepare them for the forthcoming sailing qe&son. ACHIEVEMENTS AND PERFORMANCE In 2024 ihe Rona Sailing Projcci to(Ik 1,714 PCL)ple on sail training voj'agcs ranging from l-l O day.s, including 640 young peoplc undLr 26 and 123 p¢oplL with additional needs such as disabiliti¢%. scrious illn¥ss or learning dil¢U111ls, We M'elconK'd new organisalions on voyagLS, illLluding Grcig C'.ity ALademy. ChangL Grow l.ive Isouihampton drug and alctshtsl .rviCl1. Hammer%l¢y Flomes ladulis with enduring mLnlal health challenges and psychoiic illness} and S('.ARF {)'oung adult5 with additi(>nal netydsl. Wc continue lo run vo)'ages lor the Gcinini Projlcl laduli.8 i¥iih ILarning dIllull1LS}, ail 4 Mcnial Health. tthd Ivere pleased io iv¢l¢oine back a crew frani D¢al- Sailiiig UK. We received ovcrwhelmiiig positive IcLdback fmm creii'5 a5 WLII as fron) their parLnts. ieachers and carer.8 on th¢ beneficial eflecls their sail training vovagc had on ihenl. 97(J/o of Crew enjoyLd their voyage, 97 % ¢krIed on even when ihin8& were diificult, 92/0 slated thal ihLy had gr(Iwn in confidence aft¢r Iheir voyage and 99/0 would recommend a sail Iraining adventure M'iih Ihc Proje¢t lo a friend. The Ihree Rona Sailing Projeci vessels, Rona 11, Donald Searle and Merrilyn, joined iiith other sail training organisations for two small Ships Races in 2024. one in C.c)wes in S¥pl¥mber and ihe ciiher from Ciucrnsey to Poole inspirl'd by the 200th anniversslry ol. IhL RNI.l. Our i'()lunteer skippers lor the RNLI ¢v¢nl w'ork or Yolunleer with the RNLI and the trainee crews in¢ludcd children of RNI.I volunt¢ers. Rono 11 and Diinald Searle l()ok parl in thc Round ihL 151and Race in 2024, iTrhich i%'a5 sailed in particularly challenging eondilions and was a fantastic expcri¢nce for those involved. Those taking part gave donations to the Pruject.
The ROD4 Trust Report of ihe Tru$¢ees for ihe year ¢nded 31 Otlober 2024 VOLUNTEERS The Trust is volunteer-based and we relj. on volunteers to run the sail training voyages and to help with various aspects of running th¢ charl. including refitting and maintenance of th¢ vessels. We are grateful tn the volunteers ivho provided valuable time. talent and passion Lo Ihe organisalion in 2024, enabling us to opcrate efficiently and effeciively. Th¢Te are two rouies to becoming a volunieer. The most common way is to become a Junior Il'atch Leader having sailed nn a vol'age as crew on a >oung persons voyage. In 2024. 27 acck'pted invitations 10 panicipale in Watch Leader Training ii'iih the aim ()f sailing as Junior Watch l.ead¢¥s in 2025. Adults with appropriate sailing qualificaiions Can join ihe volunteer ranks through tr4inin8 we¢k"ends or by.joining a VOydg¢ direcily as a supernum¢rary and w¢ welcoined 18 n¢M' adult volunteers in 2024. OUR YACHTS Our yachts are in excelleni ¢ondition and are ¢xpectcd lo continue in scrviLe lor many mor¢ vears. Our Ocean 62 !a¢hi. Merrilvn, undcrwenl a major rcfil in 2024 at a totsl cost nf £262,874. OvLr hlilf ofthis was cssenlial work of repair and code omplianie. ThL' lolal included £128,000 on rearranging her internal layvut inLr¢a5ing her flexibility. comfort and suitabililv lor carrying groups ol'j'oung PLopIL and vulnerable adults. l-hesc cnhanL¢mcnts M'ere ¢hargLd &$ nonperatIng ilcms. We Mere Privileged lo reLL'iV¢ the elasingy funds of £94,607 from thc JamLs Myalt Memorial Fund for th¢ purchasL of g ne training yachi. Jan)es Myall M'as a skippLr and l-rustee of th¥ Rnna sailing Proje¢l and i( is filling thai our n¥w Mood}. 36 is n&mLd after hiiii. 8hL replaces Lady Shuna which was sold t() a private hul'er. FINANCIAL REVIEW -I'h¢ findncial statemenis show an ovcrall deficit of £80.096. '1-he works on Merrilvn were th¥ big8CSt factnr. partlv offset bj" a VLry ginerous d()natinn from thL Cjosling foundalion of £75,000. During the year IhLre werL Considerablc dnd unfore.%een inLreasLS in opcraiii)8 Cllsts bul ihc 'l'rusi rLmains in a strong financial posilion. li is the policv of the chariry Ihal unrestricted funds should Inaintaincd ai a niiniinum level equivalent Iii Iwo Inonihs. eipenditurL. 'fhe 'frusiL'es c()nsider ihat rescrves at this ILvcl M ill ensure that, in ihL ev¥nl of a signifiliint drop in funding. the Trust's aciiviti¢s M'ill b¢ abl¢ io ¢oniinue whil¢ coi)sideraiion is given ta H'ay.4 in which addilional lunds may bL r&is¢d. 'I'his l¢v¢l of r¥.4erve was maintained throuBhout ihe year under review. DONA TIONS Th¢ 'fTUSt¢¢s remain grateful lo the Amory, I'rLlSt and ihe ScarlL Family I'rusi tor their coniinued and generous support to the Trnsl. ii.hich contribuic significantly lo thc fiiiancial stability ol. the organigation. 'I'hc 'l-rust also received Ihe aniiual Hammond Inn¢s Bursary from ASTO. which provides funding for young pe()ple aged 25 or under. or pcoplc M'ith special needs of any age. lo take part in sail iraining voyages and to offset the costs of training volunteers and stafr. Th¢ Trusi¢¢s are al.80 gral¢ful lo the volunteLrs i¥ho gen¢rousl>' Inake significant donations via Inonihly dir¢cl debits or one. off donaiions. The Trust is registered with HM Revenue & Custoiiis for Gift Aid and receive5 qualif)'ing donations from individuals who hai'e paid enough UK incolne or capital gains tsA' to cover the amouni of the Gifi Aid ¢lainicd. sincere thanks are also due lo other existing and new donors and supporters who made generous contributions. including th¢ Worshipful Company of Girdlers. the Little Britain Chall¢nge Cup. the I leart of England Community Foundation. the London Stock Exchange Group. Sup¢ryacht Charities and the Mark Foster Charitable Trust. We are also incredibly graieful for the generou5 in-kind supporE we received in 2024 from AkzoNobel.
The Rona Trust Report of the Trustees for the year ended 31 October 2024 GOING CONCERN At ih¢ lime of approving the financial staiements, the Trustees have a reasonable expeciation that (he charitv has adequate resources io continue in op¢raiional existence for the foreseeable future. Thus, in the absence of anv material uncertainties, the Trustees coniinue lo adopt the going concern basis of CountIng in preparing the financial s(atements. INDEPENDENT EXAMINER Jon11tht Bardolph ACA, I.'LCA. BFP has been re.appoinl¢d as indep¢ndeni examiner for the ¢nsuing year. SMALL COMPANY PROVISIONS This rcporl has b¢¢n prepared in a¢cordan¢e 'ith Ihe provisions in Parl 15 of th¢ Companies Act 2006 applicable 10 Lompanies subjcLi to IhL small companies regime. Approved by order of the board of ifuslees on 21 May 2025 and signLd on 118 b¢half by.. Sarah Woodman - ScLretary
The Rona Trust Independent Examiner's Report to the Trustees for the year ended 31 Oclober 2024 I report lo the charity trustees on my examinalion of the accounts of Ihe Company for the year ended 31 October 2024. Responsibilitie5 and b4sis of report As the charity's Irusiees of the Company (who are also the directors of the company for ih¢ purposes of company lawl you are responsible for Ihe preparaiion of the accouiits in accordance witl) tlie requirements of Ihe Companies Act 20061"Ihe 2006 Act"). Having satisfied myself that the accounts of the c.ompany are not required lo be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of Iny examiiiaiion of your charity's accounts as carried out under section 145 of Ihe Charities Acl 2011 I the 201 I Aci"). In carryingj OL5t my eyaniinalion I have followed Ihe Dir¢¢iions giveii by Ili¢ C Iiarity Cominission ui)der seclioi) 14515)Ibl of ihe 2011 Act. Independent examiner's Slatement Tl)e Coinpaiiy's gross income exceeded £2$0,000 and l an) qualified to uiidertake Ihe examination by bein¥ a qualified I¢171ber of tlie Ii)stilute of Cliartered Accountants in Ei)glaiid & Wales. I have completed my examination. I confim) thai no material Inatters have come to my artenlion which give me cause to believe that-. a¢¢ounting records were not kept in accordance with section 386 the Companies Act 2006 Act; or 2. the accouncs do nol accord with sucl) records. or 3. Ihe accounls do not comply with Ihe relevant accounting requireinenls under section 396 of the C'ompanies 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 4. the acLounls have not been prepared in accordance with the c.harities SORP IFRS 1021. I have iio concerns and have come across no other matlers in ¢onneclion with the examinaiion lo which atiention should be drawn in this report in order to enable a proper understanding of the ac¢ounts lo be reached. Jonal rJolph AC.A, FCCA. BFP Iiidepei)dei)l exaiiiii)er I st Floor, Unit 12 Coinpas5 Point Ensigii Way Hamble Souiliampton Hanipshire SO.314RA
The Rona Trust Slatement of Financial Activities And Income and Expenditure Account for the year tnded 31 October 2024 otes 2024 2023 Ilnrestri¢ted fund Restricted fund TolAI funds Total funds INCONIING RESOIIRC.ES Incoming resourcos from gener#ied funds Donations Inve4tm¢iit income Oiher in¢on)in8 resources 417.457 26,802 111.666 169,607 587,064 26,802 111.666 487,929 8.726 11,203 Tol*l intomiTh% resour¢¢s 555.Y25 169.607 725,532 607.858 RESOIIRCES EXPF.NDED Charitabl¢ actii'ilics Cjovcrnance costs 725.674 4,954 75.(10 8110.674 4.954 519.463 4.592 Totgl resourcey expended 710,028 75,000 805.628 524,055 NET {OIII'C:OING)IINI'.OMING RESOIIRC.F,S nel Idefi£itllineom¢ for the ytar 1174,703) 94.607 180.0961 83.803 TraTrsfern between funds 18-19 78.950 178.950) Net movemtnt in fuThdx 195.7531 15,657 {80.096) RECONI.'ILIATIOiY OTr FUNDS Tni)I funds brought fiirward 1.248,42(1 1.248,420 1.164.617 TOTAI. FIINDS C.ARRIED FORWARD 1,152,667 15.657 1,168,324 ,248.42(1 The Statemcnt of Financial Aetiwilics includes all gains and losses in th¢ year and therefore a statement of total recognised gains and105ses has noi ¢n prcpared All of the obove amounts r¢lal¢ io continuing activities The not¢5 fonn part of these financial stst¢m¢n¢s
The Rona Trust Balance Sheet as al 31 O¢tober 2024 2024 Total funds 2023 Tot81 funds Notes FIXED ASSETS Tangible assets 12 480,774 422,283 CURRENT ASSETS Siocks Debiors Cash at bank 14 15 16 3,000 45.673 645,343 694.016 3,000 73,131 759,323 835.454 CREDITORS Amounls falling due within one year 17 (6,4661 (9,317} NET CURRENT ASSETS 687,550 826,137 NET ASSETS 1,168,324 ,248.420 FUNDS Unrestricted funds.. General funds Designated funds Restricied funds 79,091 ,073.576 15,657 237,642 1,010.778 19 TOTAL FUNDS 1.168,324 1,248,420 Tlie n)embcrs are satisfied thai the charitable company is entitled to exemption from the requireinent to obtain an audit under section 477 of the Companies Act 2006. The members have not required the charitable company to obtain an audit in accordance with section 476 of the Act. The trustees acknowledge their responsibilities for coinplyin&F Wlth the requirements of Ihe C.oinpanies Act 2006 with respect to accounting records and the preparation of ac¢ounts. The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subje¢t lo the small companies re8ime. The profit and 105s account has also been delivered to the Registrar of Companies. The financial statements were approved by the Board of Trustees on behalf by.. were signed on its William Whitehouse-vaux (Chairman) The notes forn) pan of these financial statements
The RonA Trust Notes lo the Financial Statements for the yeir ended 31 Ortober 2024 I ACCOUNTING POLICIES Bt75is Olprep&r/lo The accounts haNe been pr¢par¢d under ihe historical cost convention with items recognised at cost or trans8Ction valt unl¢sg oilierwis¢ stated In the relcvant notes 10 ihe accounts. The aicounts have been prepared tft aceordkncc wtih lh¢ Stht¢m¢nt of Reci)mm¢nded Praciice A¢unting and Reporting by Lharities preparing iheir Èceounts in acrdanC< with the Financial Reportii)g Siandard applicabl¢ In the UK and Rcpublic of Ir¢land IFRS 1021 effective Jaiiuary 2019. Jncomlhg resources D(>nations. l¢gacies And L)ther forn)s of voluntary in¢om¢ are reco8nis¢d 4$ in¢omin8 resourccs m.hen receivable. ¢x¢¢pl in so far as they are in¢apable ol. finanLial n)¢asurcmeni. Tradtng income is shown net of relaied ¢xp¢nseg as this better reflt$ ihe contribution of these activiii¢s io ih¢ ¢harity, Incom¢ ¢ax recoverabl¢ in r¢lation io th)n¥iions received uttder Gift Aid is Tecognised at (h¢ lime of Ihe donation. Re$ouree$ expended N(tr fundruising costs WeTL in¢u¢d. Wher¢ wsts cannot be directly attribul¢d to particular headings they hai'e been allocated to a¥iivilirs on a baqis consJsl¢ni M'iih thc use ofrcsources Fundra15ing Losis are those incurrcd in s¢cking voluntarv contributions and do not include ihe cost5 of disscminaling infomiation in SUPIX)ti (?f ¢hc Lhdriiable dthivilies. Support Costs are thosc costs 1nLurd directly in %upport ofexpendilurL Oll tho objcds of the harity. Govcm4nLc Cosis arv those aysociaied with th¢ govcrnance arron8eiiirnt5 gt-the charity. TngIble¢(l $&th DeprL'ciaiitsn is PTovith.d so #s lo write off the cost of Ihc asset. Icss its estimai¢d TLsidual value over the useful economi¢ lifc of that &Sset. as follow%'. Worksliop eoiiipm¢nl OIIICL Lquipincnt Moior vchi¢le5 Moior ienikr5 Yalhis Ii)rkshop i1npr4)veientS oirice & ¢r¢w Toom IOO/o 5lraighi line 33Q/4 Straighi lin 204/0 Strai8hi line IO°/o siraighi linc with residual VAIUL £5UO 2.50/0 Straight line ovcr the length offhe lease 2/0 Strai8ht line Siocks stks arc valu¢d #¢ die lower ofcosi gnd nei realisable value. aft¢r i#akiiis duc allowance for obsol¥¢ and slow Inovin8 ItLYiis. OperailAR leo&e o%reepnents Rei)Idls applicable io ()P¢Talin8 leases wher¢ substantially all of the b¢nLfits and risks of own¢r8hip rcmain with th¢ lessor ar¢ ¢harg¢d a8ainsi profits on a slraighi lirt¢ hasis over ihe Tiod i?fihe lease. Th¢ charity is ex¢mpt from corporation on its charitable aitivities. AeeHmHluterfJunrfs ThL unrcslricled funds and designaied can be used in accordance with the charitJbl¢ objectives al the dhs¢retion of th¢ trnst¢¢s. The 5¢gregalion of fun(ts is because Ihe trust¢¢s wish to show th¢ split betiv¢¢n the operational arn] of the Lharity Sailing Project) and the mveslm¢ni aTJn (Rona TTUSII. Th¢ designatcd fund valuc at the Year end represents th¢ n¢t book value of the yachis held bi, the chariii. at th¢ year end. Unr¢stricted reserv¢s r¢preseni ihc day-to-day operational reserves ofih¢ ¢harit}'. RestTlCt¢d funds can only be used for particular restricted purpos¢s 1th1n the objects of the charity. R¢5triGtions arise when 5p¢¢ified bs ihe donor QT when funds ar¢ raised for particular r¢stri¢i¢d purposes. 10
The Roma Trust Notes to the Finncial Statements for the year ended 31 O¢tober 2024 Unresiritted funds Restriettd funds Total funds 2024 Total funds 2023 2 DONATIONS Viswunt Amory TTWSI Searle Trnsi Assoeialioii of Sail Training Organisalions Afteigu2rd donations Jift Aid Corporaies Sundry donations ResiriLtLd in¢omc (lonaiions 124.600 90.000 .967 44.759 18.593 48,747 81.791 124.6(K) 90.000 8.967 44.759 18.593 48,747 81,791 169,607 587.1164 124,500 90.000 9.541 32.643 15.617 45.030 170,597 169,607 169.607 417.457 487.929 3 INVL¢iTMENT INC.OME Ilnr¢iiri¢ied fundi Rtstricted nd$ Totil fund$ 2024 To¢il fynds 2023 Dcrx)sil a¢¢i>unt inteTest 26,802 26.%112 26.802 8.726 .726 26,802 4 0'fHb.R INC'.OMING RESOIIKCF.S 2024 2023 IlnrcMriLt¢d fynds Othcr inLom Kesrricd fund5 4)Iher Income 111.666 111.203 UnrL%lriLILd funds otl)CT inLomc'. 2024 2023 cr¢ fcL's Qthcr inLom¢ 107.266 103.135 258 6,QlO 1.800 1,237 Movcmeni in 4iock of ¢onsun)8blc5 11,666 111.203 COST Ob ('.IIARITABLL AfflVITIES BI, FI,'ND TYPE Unre%trlcttd fund8 Restricted Total fund$ 2024 Total 2023 Vessel costs Suppon costs 564.773 160.901 75.000 639.773 160.901 354.882 164,581 725,674 75.000 800.674 519.463
The RonA Trust Notes to the Financial Statements for tht year ended 31 Oetober 2024 6 COSTS OF C".H.4RJTABLE ACTII'ITY BY ACTIVITY TI'PE Activities undtrtlkt directly Support costs Total funds 2024 Total (unds 2023 Uniesiricicd costs R¢siriLILd ¢osts 564.773 160,901 725.674 75,(M)O 519,463 619.773 160.901 800,674 519.463 7 GOVTr:RNANCE COSTS lJnrestrieted fund$ Restrl¢led funds Total funds 2024 Total funils 2023 Accounian¢y 4.954 4,954 4.5412 ANALYSIS OF SIIPPORT C.'os'rs I,nrestrlcttd fundi Rcstrlcted fund$ TotJ)I fynd5 2024 Total funds 2023 8alari¢s wid oss(K'ial¢d Lo.sls l)eprLLl411()n Renl. rale% and service char8¢5 Subscripiion% Molor vchicl¢ and travel Lxpens¢s 'rclephone MisccllanLy)u$ Cour8¢s and uainin8 P(Istage and 51ali()i)L'ry Baiik LhaTgc% and inierest p#yabl¢ 64,8.36 21.7112 52.3011 1,4116 5,681 3,158 3,689 4.2.13 2.465 64,8.36 21.702 52.3011 1.4¥6 5.6¥1 3,15% 3,689 4.233 2.465 75.486 21.¥34 47,916 1.423 6,515 3.883 941 4,lOQ 1.802 678 160.901 160.901 164.581 12
The Trust Note$ ¢0 the Financial Stottments for the year ended 31 Octobtr 2024 9 ANALI'SIS OFACTJVITIES UNDERTAKEN DIRECTLY Ilnrtstricted funds Restrleted funds Tolal fund$ 2024 Totfbl funds 2023 Salanes and associated costs Boai repairs Food expense5 Fu¢1 ai)d berthii)g expcnses Race ¢xpenses Crew tTav¢I ¢xpenses Crew clothing cxpenses Insurance M¢¢iin8s and ¢onfeTences 130,327 288.264 32,946 58.247 2.331 236 14.536 28,750 9.136 130.327 361.264 32.946 58.247 2,331 236 14.536 28.750 9,136 125.942 118.350 28.635 35.911 345 1,069 8,443 26,460 9.727 75.000 564,773 7.S.000 639,773 354,882 111 NLT INC'.OMIIYG RLSOIIRCES FOR THL YTr:AR Ilnrt8trieted fund ReJlrlc¢¢d funds TotAI funds 2024 Tolal funds 2023 'rhi5 is staled aller ¢hargii)8'. DcpreLiytion 21.702 21.702 21.834 11 STAFb'C:OSTS AND Tr'MOLIIMEYTS Ilnreitrlct¢d funds Rtitrleied fundi Total fund5 2024 'otAI funds 2023 Wagis and salarics Sociyl sLcurifv COSL8 Pensithn conlributions 176,985 12.9x9 5,188 176.985 12,9¥9 5.188 183,375 12,¥63 5,190 195.162 195.162 201.428 Pirticulars of ¢mployees' The aveTage Iiumber of employees durin8 the year. ¢alculat¢d oji ihe basis of fiJll-¢im¢ cquivalents. w'&s as follows,, 2024 No 2023 Number of maintcnancc staff NumbLr ofadministrative 5tafi' No anployee receiv¢d Teii)uneration of more thart £60,000 during the year. No remuneration or exp¢nses were paid io Trusttts. 13
The RonA Trust Notes to the Financi41 Stitemenls for the year ended 31 October 2024 12 TANC.IBLE FIXED ASSETS 'ork$hop Improvements and equipment Motor ttnder$ Offite and equipment Motor vehicles Y8thts Total Cost At l Noven)b¢r 2023 Additions Diswsdls At 31 (ktob¢r 2024 14.500 59,668 1.243 13.060 31,502 78.940 1.299,827 80,193 1.260.041 14.500 60.911 13.L166 31.502 1.380.020 Deprec19tlon AI l Noi'Lmber 2023 C.htsTg¢ lor ihe year On dis581$ At 31 Ocl(Trber 2024 770.313 16.152 13.500 53.461 1.991 11.6.38 689 28.632 2.870 877.544 7g6.465 13.500 55.452 12.327 31,502 899.246 N¢¢ book vAlue Ai 31 (k'i¢)beT 2024 473..$76 1.000 5,459 739 480.774 Ai 311)Clober 2023 410.778 1,000 6.207 1.428 2,870 422.283 13 Y AC.'III'S 2024 21123 T)i>ntsld Searlc Rona 11 M¢TTIIy) l.ady Shona Jam15 fvlyait 48.122 24.892 294.671 26.941 78,950 51.1>64 30.460 300.818 27,836 473.576 4 10.778 14 .%TOC'K 2024 2023 Sio¢k 3.000 3.OOQ IS DLBTORS: AlOlINTs FALLING DiIE II'II'HIIY OliE YEAR VA T repaymcnl due Purchase led8¢r debit balane¢s Prepa)i)ients- unr¢sirict¢d fund 2024 2023 9.535 6.602 29.53fi 45.67.7 6,573 23.046 43.512 16 CASH AT BANK 21124 2023 Cash at bank - Iinr¢stricted generd fiind Cash ai bank- UnStric1ed designa¢ed yacht fund 159.323 600.000 759.323 6(10.000 645..343 14
The Ron Trust Notes to the Financil StAtements for the year ended 31 Ottober 2024 17 C.REDITORS: AlOuNTs FALLING DI',E WITHI.Y ONE YEAR 2024 2023 Trade crediiors Other crediiors 1.366 5.100 6,767 2.550 6,466 9.317 18 IINRESTRICTED INCOME FIINDS B4lante Al l Trxnsfers Novtmber betwten 2023 funds BAlgn¢e at 31 O¢tebber 2024 Incomlng rtsourets OutRoing re$ource% Designai¢d Funds Geii¢ral lunds 1.010.778 237.642 78.950 162.79x1 1667.8301 1.026.930 125.737 555.925 1.248,4211 78.950 5.5.925 1730.f>28 .152.607 19 RF.STRIC.'TED INCOME FIINDS B41inee at l Tran#fers NovembeT between 2023 nds B41ancc at 31 O¢lobtr 2024 Ineomln rtsour¢e$ Out%oing resource8 General Fun(Ls 178,9501 169.607 175.0001 15,657 17%,9501 169.607 175.00111 15.657 20 ANAI.VSI4 0> NI.T ASSE'fs BF.'nVF.EN b'll) D. TAnpible Ilxed Aisets Net current Tot#l UnTcslri¢t¢d Designated Fun&% lJnresiriLted General funds Restrilied Funds 473,576 7.198 600.ooa 71.893 15.657 1,07.1.S76 79.091 15.657 480.774 687,550 1.168.324 21 RelAled Parts. Tran$*ctlons There have been no r¢lated party. transa¢tion5 In the reportin8 period. 22 Other information The Rona Trn5l is a pnvaie charitsble company limited by guarantee attd incorporated in England. Ils reg151¢red office is.. Unli la Univ¢Tsal Marina Sarisbury Gen Southampton Hampshire S0317ZN 15