Re8iStered company number: 03650377 (England and Wales} Registered charity number.. 1073048 ReFK)rt of the TrSte¢S and Unaudiied Financi Statements for the year ended 31 (ktober 2025 for The Rona Trust
Tbe Rolla Trust Contents of the Fillallcial Statements for the year ended 31 October 2025 Page Report of the Trusiees Independeni Examinels Report Sernet of FRnancial Activili Balance Sheet Note5 to the Financtal Statements
The Rona Trust Report of ¢he Trustees for Ibe year ended 31 (ktober 2025 The ttustees, who are also director% of the charity for the purposes of the Companies Act 2006, present their report with the fllwicial ststcments of the charity for the year ended 31 Ottober 2025. The In]¢¢$ have adopted the provisions of the Charities SNemeni of Recommended Practice (SORP) "Accounting and Reporting by Charities" effectiv¢ jUary 2019. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Nurnber 03650377 (England and Wales) Rfgistsred Ch4rity Ntsmber 1073048 Registered Office Unit la Universal Marina Sarisbury Grttn Southampton Hampshire S0317ZN Tru$t¢es William Whitchouse•Vaux {ChaiTnwi) Alan Richardson Andrew Searle Andrew Wright Becky Shaw Christopher Beane Christopher Matthews Claire Cleaver Duncan Farrani Giles Thorley William Heathco* Amory Dawn Bishop (resi 28111125) Company Sef relary Sarah Woodrnan Independent Examiner Jonathan Bardolph ACA, FCCA. BFP 1st Floor. Unit 12 Compass Point Ensign Way Hambl¢ Southampton Hampshir¢ S0314RA
The Rona Tru81 Report of tbe Tte¢S for ihe year ended 31 Oetober 2025 Bankers Lloyds Bank plc 43 West Strtti Fareha Hampshir¢ P016 7FJ Flagstone Investsnent Group 1st Floor Clareville House 2&27 Oxett(kn Str London SWIY4EL
The Rona Trnst Report of the Trustees for tbe year ended 31 October 2025 ACTIVITIES AND OBJECTIVES FOR THE PUBLIC BENEFIT The Rona Trust 15 a charity that owates three large sail training )8thts under the Dame of the Rona SaÉling Proje¢L The Righi Honourabl¢ Derick Heath¢ Amory, Viscount Amory. sthrted the dthrity to provide opportunities through sail training for young people io dtvtlop a sense ofr¢sw)nsibiltty. resourcefulthess and tramw0 that will help them thr(pughout Ih¢ir lives. These original aim5 remain relevanL and the charity Conlinues have a yJb5tantid and benefjciaj impaci on the many yourtg people sail with IL While the original ethos remains un¢hangel this objectiv¢ h&8 been extended to r4)ple with phystcaL seosory or learning disabilities. to those overcoming physic or Ment hth i&%ue5 and those in treatm•Ji aod r¢rov¢ry from drug 8JLd alcohol addiaion. Sahl traiThing h&8 provtd be equally beneficial io people f¥ing thae dlenge5. The TnLStees ¢onfJnn that they have referred trp the guidance VeTh by ¢he Charity Commission5 on public ben¢fit when reviewing tht charity's aiN]s and objttiives al when planThing future adivitie5. GOVERNING DOCUMENr The charity w&8 initsally fonned &8 a privatr chan"tsbl¢ v¢nh5T¢ in (then known as the London Sailing Projccil and for[naJis &8 a ¢haritabl¢ settietJJ¢nt on ] July 1961. The Rona Tnw was r]nt regi51¢rd &s acharity on IM Decemb¢r 1966 and bec4me a company limit by guaron¢ee on 1st November 1998. (charity number.. 10730481. GOVERNANCE AND MANACEMENr The work of th¢ charity is oversttn and monitorcd by a board of Trustets. None of the TtU5t¢e5 any benefjcial interest in the eompany and ail give their servi¢¢s on a volunthry basis. All the Tnst¢¢5 ar¢ m¢mlxrs of the company and guarant¢¢ to contribute £1 in the eveni of the company being wound up. TnJste¢s are regularly briefed on their le8al ¢)bligaiions and IreqLoIty med key employees and other Tnlee5. They are provided with management accounts. bw8it)¢ss plarL-Tr and relewit governance documenwon. The operation5 of the ¢lwity are overseen by the Proj Dir¢cts)r who is siipp)rted by ateam olfour administr•ive and technical stsff. The Proje¢1 Dir¢ctor re8uiarly co1 with th¢ Te¢S and seeks theirapproval tsn key 5rrategic and operdtional issues. The charity is very fornLn to have the servi¢cs of more than 300 skilled and enth11¢ volunteer5. The volunteers njt) th¢ voyage4 help to mainthin th¢ yachts aThd ¢ontrtbute ts) the suc$5 ofthe charity in many other ways. RISK MANACEMENT The charity regniSeS that there are inherent risk5 &sxKiated with its OP]0& amd fiThancial aaivilies. To Mitigate these ri5k5, the Charity h&8 establi3hed mbust risk managem¢nt polieies and Predur¢S. including regular moniioring and VIeW of rinan¢iaJ trdnsaaions xtiviti¢s. The charity ajso mainthins appropriate insuramce coverage protect against poteniL I0s. Despiie these measura% there i$ waYS a p)ssibility Unfores events may could impaa the ¢haritys rinanciai position. The Chity is ¢ornmitted io proactivel). identsfying and managing risks to minimis¢ their impact and ensure the long-temi sustainability of the Organi10. Together with the Projea Direaor. the ¢haJity'5 Trustees r¢guiarly review and &8sess the risks arhd take appropri&e aaions to mana8e th¢m further &$ n¢¢¢w. SAFEGUARDINC The ch&ity is committed to creaiin8 a safe aTtd secure ¢nvirt>TLment for e%'eryot)e who sail& works or volwiieets with the Tn. A robu safeguarding policy and a&sociated prc¢edure5 are in place. which are regularly reviewed and updated to ensure that the highest standards of safeguarding are ma.
Th¢ Rona Trnst
R¢port oftbe Tnee$
for the year ended 31 OttobeT 2025
Concerns raised ar¢ taken extremely seri¢5]Y and there is a clear rew1irtB pr(Kess in place io ensure that thcse dealt with
promptly and appropriately. The welfare and pro¢ti<>n of ¢%'eryon¢ involi'ed with the Trust are prioritised and we coniinut
io strive for
The Rolla Trn5t Report of the Trnsttt5 for the year tttded 31 October 202$ VOLUNTEERS The T51 is volunieer-bas¢d and w¢ ]Y on volunteers io rLth the sail training Vo>¢$ and io help with various &8pects of Tunning the clwity, including refjtting and mainienance of the .£55¢1& We are grateful to the volunteer5 who provided valuable tim4 ta]ent and p&ssion to the (>rganisation in 2025. enabling us io OpLe efficientl). and effeeiively. There ar¢ two routes io be¢oming a volunieer. Th¢ most ¢ommon way i5 to bec4)me a Junior Watch L¢wJer having 5aild a5 crew on a young r$0' voyage. In 2025, 58 aCCq>t inviotions io participat¢ in W¢h Leader Trninirtg with the aim of sailing as Junior Watch L¢lets in 2026. Adults with appropTiat¢ Sailing quaJifJcztion5 can join the volunteer ranks through training weekends tsT b). joining a voyage dire¢tl) a supernumerdr)., aThd we wel¢omed 9 new adult volunt¢¢J3 ID 2025. OUR YACHTS Our yachts are it) ex¢¢llent condilion and exed (o continue in for more years. Our three 5wI training vessels are I l Merril>Tr (Ocean 62) Cod for 15. 21 Donald SeaJle (Ocean 751 coded for 20, 31 Ro¢)a11 IOysr 68} coded for 23. Jam¢5 Myatt (Moody 361 is our training ya¢ht on which %'ol¢mieetS t•) gain amd quaJification5. FINANCIAL REVIEW The Tnjsi MaInS in a strong financial tK)sitiow4 financiaj sthtrments showing a surplus of £35,994. This w&s due to martaging expenditur¢ and successfully al¢rling more don&ions and grants than previoLLsly. Thanks io our volunt¢¢r effort we can saw¢ on maintenanc¢ ¢osts. li is the policy of the charity wir¢strictcd funds should be mainlained ai a minimum l¢v¢l eqllivalent tts two month5, expenditure. The Tr%(¢¢5 consider that reserves at this level will ensur¢ thal in th¢ tvtnt of a signiflcant drop in funding, the Trust's acilvjiies WLII be able Continue while ¢onsidewation i5 gien to ways io which Jd]lion funds rnay be 5£d. Thi5 level of reserve w&s mainlained throUght the yw wider wiew. DONATIONS The Tr4JSt¢¢s remai[2 Erful to the Amory TTUSt amd the Searfe Family T for their coThtinued aThd getterous support to the Trusl wbich Contribute 5ignifieand)' to the financial stability of the organisation. The TTUSt also received ihe annual Hammond Innt5 Bursary from ASTO, which proYide5 funding for young peopl¢ aged 25 or under. or people with spe¢ia] needs of any age. (o tak¢ part in sail Iraining voyages io offsd the costs of trdining volunteers and stsff. The TTUStees are a]so grateful io the voluntrers who g¢n¢rously make Si]rICant donations via monthly direct debits or one- off donations. The Tru is gIstered HM Revcnue & Cusiotns for Gift Aid and receives qualifying donation5 from individua15 who have paid enough UK income thx or ¢apitsl gaiThs thx io coverthe amount ofthe Gift Aid claimed. Sincere thanks are also due to other exi$iing and new donors and supponers who made generous ¢ontribution5. including the Health Lottery FoutJdion, Worshipful Company ofGirditr& the Miil¢nium Oak TrusL the LA)ndon sIk Ex¢hange Group, Slloervacht Charitit5 and the B¢rnard Sunley Fowidation. We are a150 incredibly grateful for the genero in&i[ Jpt w¢ received in 2025 from Akd)NOl.
Tbt Ronx Tryst Report tsf the Trnstees for tbe year ended 31 October 2025 GOING CONCERN At th¢ time of approving the financia] SLqten]¢nt& th¢ TnJ5ttts ha%E a reawthabl¢ ¢XP¢¢Wion the charity has adequate re50urce5 to continue in operatsonal cxisience for th¢ for¢s¢eable firture. Thus, in the absen¢¢ of any Merial uncertainties, the Tru5tee5 Colllinue to adopt th¢ going concern b&sis of rnting in preparing the financiaj ststements. INDEPENDENT EXAMINER Jonathan Bardolph ACA. FCCA, BFP h&8 F•) rwpoind &$ independwt exaliner for the ensuin8ye4r. SMALL COMPANY PROVISIONS Thi5 report has been prepara in accordanc¢ with the provision5 in Pdrt 15 of the Companic5 Aa 2(MK) applicable c4>mpani¢s 5ubjea to the small companies regime. Approved by der of the board of trStee$ on ... .. . . and SI£d on its b¢half by."
The Rona Trust Independen¢ Examiner's Report lo ihe Trustees for the year ended 31 O¢lober 2025 I rert to the charity trustees on my examinaiion of the accounts of the Company for the year ended 31 October 2025. Re5PODsibilities and h$is ofreport As the Charity's tNstees of th¢ Comwiy (who ar¢ a150 the ditector5 of the cornpany for the purposes of company lawl you are responsible for the prepamion of the accounts in accordance with the requirements of the Companies Aci 20061"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 Aci and are eligible for independent examinalion, I re in respect of my examination of your charity's CoUnts ¢arried out under section 145 of the Charities Act 2011 ("th¢ 2011 Aci-). In canying out my exatnination I have followed the Directions given by the CIMrity c(n]ssion under section 145(5Kb) of the 2011 Act. Independent examin¢T'S St8teJDeDt The Company'5 gross income exceeded £250,000 and l am qua]ifi¢d io undenake the examirwlion by being a qualified member of the Instityie of Chartered Accountants in England & Wales. I hav¢ completed my examination. I confm that no me[la1 tnatters have come to my attention which give me caus¢ to believe that.. l. acc(Trunting records were not kept in accordance with section 386 the Companies Act 2006 Ad,. or 2. the ac¢ounts do not accord with Such records. or 3. the accounts do noi comply wilh the relevant accounting requirements under section 396 of the Companies Aci 2006 other than any requirement that the accounts give a True and fair view" which 15 not a matter considered as part of an independent examination,. or 4. the accounts have not been prepared in accordance with the Chan"ties SORP (FRS 102). I have no concerns and hav¢ come acr055 no other matters in ¢onne¢tion with the examination ro which attention should be drawn in thi5 repon in order to enable a prOr understsnding of the accounts to be reached. Jonaihan Bardolph ACA, FCCA. BFP Independent ¢xaminer 1st Floor. Unit 12 Compass Point Ensign Way Hamble Southampton Hampshire S0314RA 2•z
The R•na Trust St8temenl of Fin¥n¢i•l Artivitiu Income aDd ExpeAditun A¢¢ount for the year ended 31 October 2025 2025 2024 U•re5trirted Re5tTifted ruDd futtd Total funds Total funds INCOMING RFSOVRCES Intorning resourts from ynerated fuDds Dotlations Investm¢nt income Other incoming re5 476.834 23.411 140.397 476.834 23,411 140,397 587,061 26,802 111.666 Total illcoming reJour¢¢s 640.642 640.642 725,532 RESOURCES EXPENDED Charitsble activities Governa¢ ¢osts 584.7 4.982 14.876 599.666 4.982 800.674 4.954 Tot•1 rttowrus pended 589.772 14,876 604,648 805,628 NET INCOMINGI{OUTGOINGI RESOURCES tt¢t iDcomelldtfKit) for the yur 30,870 114,876} 35.994 (80.0961 Trinsf¢rs bekn funds l8-19 {781) mo¥¢men¢ in fuDds 51.651 115.6571 35,994 {80,0961 RECONCILIATION OF FUNDS Total fvnds brought forward 1.152.667 15,657 .168.324 1.248.420 TOTAL FUNDS CARIUED FORWARD 1,204,318 1,204,318 ,168,324 The Ststement of FitwKial Aaivities in¢lud¢s ajl and I0S in tt¢ye¥omd tlKr¢foTE a 5tamentof to recognised gaiTh5 and losses has rxbt p]rpaJcd All of the ah>ve amowits relate to continuartIVJiieS The notes fornl Part of th¢s¢ financial #a*JMJts
The Rona Trnst Balance Sheet as at 31 October 2025 21125 Tot•1 fut)ds 2024 Totsl fuDds Notrs FIXED ASSETS Tangible assets 12 450,533 480,774 CURREIYT ASSETS Stocks Debtors Cash at bank 14 15 16 36.199 720.541 45.673 645.343 759,740 694,016 CREDITORS Amounts failing due within one 17 {5.955) {6,466) NET CURRENT ASSETS 753.785 687,550 NET ASSETS 1204.318 1,168,324 FUNDS Unrestricted fimds.. Genera] funds Designated fimds Re51rict¢d fund5 18 165,886 .038.432 79,091 1.073.576 15.657 19 TOTAL FUNDS 1204.318 .168.324 The members are satisfied that the charitabk company is entitled exemption from the requirement to obtain an audit under seaion 477 of the Companies Act 2(K)6. The members have not required ihe charitsble company ¢0 obthin an audit in accordance with s¢rtion 476 of the Act. The truste¢s acknowledge their responsibili1ies for complying with the wuirements of the Companies Act 2006 with respwt to accounting rccords and the preparation of accounts. The accounts hav¢ been prepared and d¢livered aordanCe with the special provisi(Trns applicable to companies subject to the small companies regitne. The profit and loss account has also been d¢livered to the Registrar of Companies. The fman¢ial statements were approv¢d by the Board of TnEStees on ... . . b¢ha]f by.. and were signed on its .u /, Ld£hfo4¢.rfrt William Whltehouse-vay {Chaimw) The notes forni part of these financial statsmts
Tbe Rona TnESt
Notes to tbe Finaneil Sttements
for the year ended 31 October 2025
I ACCOUNTING POLICIES
BLTif ofPrer¥rtO•
Othei slated in the Televant n(w to havt wepar¢4J in accordance with the Stat¢tnent of
ReportiD8 StsDdard aFgILrabk iti the UK Republic of (FRS 1021 effcaive January 2019.
they aT¢ incapable orr][n(la7 t[ur£[O
Inrne tax tec0v¢rle in reiatiort to (kxjknfj re1V¢ under Gift Aid is reco% at the time ofthe dThJatl.
Regour¢ts exptllde
actitieS on a bas consistent with the use 0lrfs0u.
F)drSIng ¢o5ts are incuffed Seek voJUDt and the ¢wts of dissunLnatsng inf
Tbe Rona Trnst Notes to the Finn¢i•l St•temeDts ror the yer ended 31 O¢tob¢r 2025 IIArtstritted Restrirttd T4Xlfupdq 21J25 Totsl funds I I)ONATIONS 2024 ViscoUDLAmY Tn Searle Tr1 Associaiion of Sail Tramin8 Orgts$ Aft¢Igu d]($ Gift Aid cOryat£S 125.5 IIK>.( 125.5(K) I(.{KK) 9.682 52.389 20,624 66.550 I02.O89 124,6(M) 8.967 44,759 20,624 66.550 102.089 48.747 81.790 109.607 587,064 476.834 476.834 3 INVESTMENT INCOME T•tl futhds 2025 Totsl funds 2024 26.802 20.802 23.411 23.411 4 OTHER INCOMING RVSOURCES 2025 2024 140.397 140.i97 111.666 2025 2024 Cr¢w feES T] Sh]"ps Race 2025 69.821 62.1 107,266 3,163 1.237 5.861 140,397 111,666 5 COST OF CHARITABLE ACfllTTIES BY FUND TYPE Total T•t•l fund$ 2024 funds 20LI Support cosLs (No* 81 ve1 IN(rte 91 176.276 408,514 176276 423.390 14.876 584.790 14,876 599.666 800,674
The Rona Tnt Notes to tht Firt¥thri41 Ststements for the year endtd 31 Ortober 2025 6 COSTS OF CHARITABLE ACflVITY BY ACTJVTTY n'pE Adivilies rta dire<tty Support T•¢•1 Toll f•Ad5 2024 u[¢strICted costs 408.514 14.876 176.276 584,790 14.876 725.674 75.(KK) 176.276 599,666 800,674 7 GOVERNANCE COSTS Ilnr¢MYitkd Totsl f•# 2025 Totxl flllld 2024 4.982 4.982 4.954 ANALYSIS OF SUPPORT COSTS I1llrtstricted Restritt¢d fullds Totsl Tot•l fund 2024 2025 SalaTies •)d $[lated cws tkpre¢iatioD La%$ on di4[ oryh1 Ren( Tatrs getvi(¢ ChBe5 Subscripiio Motor vthi¢ie and trav¢J txpe Tekphle Misce113n¢QUS Cout5e5 and tr?itiin8 Posta8e and Mati(x Bgnk Chw payable 75.119 19.640 75.119 19.640 1.866 64,835 21,702 53.4TT 7.894 52.308 1.486 5.681 3.158 3.688 7.894 5,928 5,485 594 4,777 .292 204 5,485 594 1292 2,465 1,343 176.276 176.276 I60.)1 12
The Rona Trust .Note5 to the FiDDcil StteJnents for tbe year ended 31 Oclober 2025 9 ANALYSIS OF ACflTrlTILS UNDERTAKEN DIRECTLY Llxrtstrirtcd Rellritt¢4 T•ti fuDds Totsl flllldj 2024 SalaTies and &Swi&¢ds¢S Boat r¢paitS F(xxl exp¢ns¢s Fuel and Eerthing expenses Ratt expL5 Tall Ships Ra¢¢ 2025 eXPaL 130.310 109.501 26.316 50.385 354 29.661 130.310 124.377 130.327 363,264 32,946 58,247 2,331 l4.876 29.661 236 14,536 28,750 9.136 Crew ¢l(Ahin8exrktLses 22,288 30,610 9,045 22.288 iQ.610 9.045 408.514 14.876 423.3 639.773 10 NET INCOMtNG RESOLTRCES FOR THE YL4R I'mrcrtritltd R¢thtrd Toll f#Dds f•Ads fuuds 2025 Tot•1 funds 2024 is Sta after chxging". Depren1th] 19.640 19.640 21.702 11 STAFF COSTS AND EMOLLMENTS Ilmrestrirtd R¢strKted Totsl f4Ads 2025 Tot•1 fuDd$ 2024 Wy )d saiatiE5 Social 5¢fUrity ¢OSts PeJLsion (onrributions 187.850 11.943 5.636 187,850 I 1,943 5.636 176,985 12,989 5,188 205.429 205.429 195.162 Pirti¢ulan of rnpknyeey.. The av¢rgg¢ nwnbeT of erjploytu thu]ngthe year. c8JpJL**J th the fv114irn¢qwvthK& 85 as follo.. 2025 2024 NuberOf maintenan¢¢ sthff Number of admini5trauvestatr No employff reCeid of than thmgthe yeat No remuneration or exp¢nses were paid lo Tr%1¢C$ 13
Tbt Rollx Trn$t r4otes to th¢ FSn•n¢knl Stlttmtttts for the yeAr tlldtd 31 Odobtr2025 12 TANGIBLE FIXED ASSETS M•lor inprovewt4ts Office I1 YKbts vebicks Total Cost Al l Nov¢mb¢T 2024 Addiliojts Disr Al 31 (kiober 2025 1260,041 8.217 70.819) .197.439 14.51X) .911 8.047 31.502 1,380.020 16.264 70.8191 ,325,465 14.5(X) 68.958 D¢pr¢¢itlo Ai l NovembcT 2024 Charg¢ for the y On dispos At 31 (Iwbcr 2025 786.465 16.496 43.954 759.(MJ7 135 55.452 2.624 899,246 19.640 520 13,500 58.076 12.847 874.932 Net baok vlut At 31 Oaober 2025 438.432 10.882 219 450 533 At 31 Oaober 2024 473.576 5.459 739 480.774 13 YACHTS 2025 2024 Dottald Se Rona11 me11 Lady Shona Jrys Myatt 44,581 19.324 288.523 48,122 24.892 294.671 26.941 7&950 86.(K>4 TO1 Net B(K 438.432 473,576 14 STOCK 2025 2024 Stock IS DEBTORS: AMOLNTS FALLING DUE WITMLN ofE YEAR 20LI 2024 VAT tepa)wi due Puh&S kdger d¢bii bailt 5.219 1.442 29,538 36.199 9,535 6.f4)2 29,536 45,673 16 CASH AT BANK 2025 2024 Ca8h at bank. Iiijrestricted genuai fund Cash w b•th. desLBO*ed yxtw fuDd 120,541 45.343 720.541 645.343 14
Tht Ronx Tryst r4otes to th¢ FiD4Dtial Stttth¢#ts for the year ended 31 October 2025 17 CREDITOILS: AMOIINTS FALLING DUE WITHIli ONE IEAR lots 2024 3,305 2,650 5.955 1.366 5.100 li iINRESTRJCTED INCOME FUNDS BaknDC¢ •1 l TrLrft ovember btfwtt B•ltttt xt 31 (kiobtr 2025 Outgoilg 2024 D91a¢ed FdS fj¢[W Fu]¥1s 1,073,576 79.wi 781 143.i621 1546.4101 1.030,995 173.323 640.642 1.152.667 781 559.772 ,204,)18 19 RESTRICTED INCOME FU,YDS B11 it l Trtsfer Il•vembtr b¢lw¢e 2024 Bknnct t31 OttobEr ZDL5 Outgoi¥ 15.657 {7811 114,8761 15,657 {7811 114.876 20 ANALY51S OF NET A&SETS BETWEEN FL'f4DS TEiblt Net eurretst rwd •Mets Totlll ulty1rt¢d Designated Fwjds ureSEnC1¢d Gej]U Fuw Restrided Funds 438.4J2 600.(KM) 153.785 1.038,432 165.886 450.533 75i.785 1.204,318 21 Roht¢d hrty TYth¢$ 22 Olbtr iDfgrrn*ti•ll Its wteroj office is.. Unit la UtLivet591 MatiDa Satisbury Glee Southampt Hampshtre SOJI 7ZN 15