Registered Charity 1079050 Annual Report & Financial Statements For the year ended 28 February 2022 ## **ANNUAL REPORT AND FINANCIAL STATEMENTS** **For the year ended 28 February 2022** ## **CONTENTS** Statement of Financial Activity Balance Sheet Notes to the Financial Statements Examiners Report Trustees Report ## **ADMINISTRATIVE DETAILS** **Charity name:** Lymington SailAbility **Registered Charity number:** 1079050 **Principal office:** Royal Lymington Yacht Club, Bath Road, Lymington, Hampshire, SO41 3SE ## **FINANCIAL REVIEW** In the year ending **28th February 2022, Lymington SailAbility had a Surplus/deficit of** **£27,741** The following Donations in Kind have been received during this Accounting period: Lymington Harbour Commissioners Mooring fees for boat Susan Mary to a value of £3136.33 inc VAT, have been waved. We have also received the partial gift of Tripat Windrider and trailer, bought at a cost of £1500, but valued and insured for £2237.40 Lymington Town Sailing Club have provided training worth £500.00 ## **STATEMENT OF FINANCIAL ACTIVITY** ## **For the year ended 28 February 2022** Some income recevied during this financial year has been restricted - The Refurbishment of ME Too was funded by the income from Charity Boost and was resticted to solely that project. Similarly, the £15000 donation was for the purchase of Dickie WindRider 17 with some excess allowed for other reasons. |||**Year Ended**|**Year Ended**| |---|---|---|---| ||**Note**|**28th Feb 2022**|**29th Feb 2021**| |||**£**|**£**| |**Income**|||| |Donations|1|40,858|2,775| |Fundraising Events|2|218|0| |Bank Interest Received||3|10| |Membership Fees||1,139|500| |Sale of assets|3|0|0| |**Expenditure**
Boat Costs
Depreciation
Fuel
Fundraising Costs
Subscriptions
Hoist Purchase
Admin, Office, Postage & Website
Professional Fees|4
5
6
7
8
9
10
11|**42,219**
6484
7260
409
0
180
0
145
0|**3,285**
4870
6306
220
0
50
533
0
0| |||**14,478**|**11,979**| |**Surplus/(deficit) for the year**||**£27,741**|**-£8,694**| ## **Notes to statement of financial activity** ## **For the year ended 28 February 2022** - 1 **Donations** Is an income category that includes the reclaiming of Gift Aid from HMRC. - 2 **Fundraising Receipts** is an income category created to track receipts from fundraising activities and within this accounting year there were no events. - 3 **Sale of Asset** is an income category introduced to record the income from any asset sold. This is not needed in the 21-22 Accounts. The Windrider disposed of in the 21/22 accounting period was given away in return for a donation, which has been included in the donations figure. - 4 **Boat Costs** is an expenses category introduced to cover all the expenses related to the maintenance, repair and Insurance of the boats and rent associated with the storage of the boats. - 5 **Depreciation** represents 10% of £7458 (FY 15/16 – New WR17) and £8,373 (FY 12/13 – new Windrider 17) pa for 10 years for boats. Also represents 10% of purchase price for new engine (FY 17/18) purchased for £4527.50 depreciated over 10 years, as well as 7% of the purchase price of new boat £34,000 (FY 17/18), depreciated over 15 years. Also represents 10% of purchase price of £6975 (FY18/19 – Tractor) and £4130 for the New Hoist (FY 19/20). Includes 10% of new Windrider purchased for £11742, and 20% depreciation for donated Windrider tripat, valued at £2237. Depreciation is limited to cost full value. - 6 **Fuel** relates to the Fuel used on the boats. - 7 **Fundraising Costs** relates to the expenses incurred for fundraising events. This has not been used this year. - 8 **Subscriptions** relates to membership of Lymington Town Sailing Club and the RYA. - 9 **Hoist Purchase** relates to the purchase of a hoist in 2019/20 Year, using grant funding received in the 2018/19 Accounting Year, and accessories purhcased in 2020. No costs have been incured during the 21/22 Accounting Year. - 10 **Admin, Office, Postage & Website** costs, which this year have been £145. - 11 **Professional Fees** is an expenditure category to track Accounts and Bookkeeping Costs. ## **APPROVAL DECLARATION** This statement of financial activity has been approved and signed by Gordon Munro (treasurer) G Munro Date: 18/12/2022 ## **BALANCE SHEET** ## **For the year ended 28 February 2022** All assets held are unrestricted in nature. ||**Note**|**28/02/2022**|**29/02/2021**| |---|---|---|---| |||**£**|**£**| |**Fixed Assets**|2|59,450|43,510| |**Current Assets**|||| |Debtors|||| |Cash at bank||26,382|13,469| |**Total Assets**
**Liabilities**
Creditors||**85,832**
0|**56,979**
0| |**Net Assets**|||| |**Reserves**
Reserves b/f
Surplus/(deficit) for the year||46,550
27,741|55,244
-8,694| |||**74,291**|**46,550**| ## **NOTES TO THE FINANCIAL STATEMENTS** ## **For the year ended 28 February 2022** ## **1. Basis of preparation** These accounts have been prepared on the basis of historic cost in accordance with Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005), with Accounting Standards and with the Charities Act 1993. ## **2. Fixed Assets** ||**Boats**|**Other**|**Total**| |---|---|---|---| ||**£**|**£**|**£**| |**Cost**|||| |B/F 01 March 2021|130,887|50,548|181,435| |Additions|22,200|1,000|23,200| |Transfers|||| |Disposals|||| |**C/F 28 February 2022**|**153,087**|**51,548**|**204,635**| |**Depreciation**
B/F 01 March 2021
Charge for period
Disposals|94,960
6,149|42,965
1,111|137,925
7,260| |**C/F 28 February 2022**|**101,109**|**44,076**|**145,185**| |NBV 28 February 2021|35,927|7,583|43,510| |**NBV 28 February 2022**|**51,978**|**7,473**|**59,450**| CHARITY (OMMISSION Independent examiner's r•port on thè Ioli INbL4MJ M40 WALE5 accounts Socdon A lTrthDpgnd9nt Ex3mineW6 Repori Reportto thp trusteMI of L￿71￿￿'.￿n Sai'Ablty on ac¢ounts lor the ￿al •Trde Chirlty n¢ 1 J?WJ ?8th F&yJ•ry 202? t outoti i)W•8 ' "p.)Yt IC+ ttre tr￿ste&sOn rn5' eL4rnlnalion DI rlio XCKxnls= I'llo Trusi.: 'oi th& en4¢d 2￿)￿2¢￿. R¢¥poTr&lblllllo6 and ba•is of iPPDrt AB the charir¢s I'ug".ee8 ￿ a￿ re$Fofi%b￿ furlhc Fr¥pItra'.￿n L4 1tr4 oJrt8 in a¢cud*￿I ¥itri t￿ iEr*ntsofthe Cw.ie5 Arj 2011 I"Ihe *.'. I In resp8c( rfmy exalThndb"￿y d 4hETrust'8 LivJ¥ u4CtiL.n 14501 lip 2=. 1 an4 ir ￿Try..￿s OLt my exarymaiioi I h*.'g foll,)1￿4 8111Tr8 ¥wllLaq¥ Oi'¥G.iLVIS 9iiei t.$ Ihll. Ctr¥iiii urthr i•ctbn 14¥(S.'rfbj='the& Indop9nd9nt I r-u￿lfied to Jrdert#k¢ iioox•ri'.l)#k)11 by Iw>.np 4 quHlifipa ￿embEr of •wnirnrfs 514tement tft My orenDon iry th••x*ninit•?n. in*r.lirnvJth thp ¢x8n￿allOn to￿111L1. alter1￿.n 51ioulJ t* #13ivn in Ihi8 r¢For. li or4Yto Otia¥io a Jra•roran¢rrq of the a¢coLils b) be w=hod 8ignEd.. Dat•: ' 44h Decemtw R•l•van¢ profEfj•ion¥l qu•lifiG•ts"onl•l or l)ody Tho 1nql.of Fir*vJ81 kttyJi18nt$. npA FIPA ER Ocl 2018 laThy): ￿. 'I"i.'iJL4vio￿J. Durriii I J. bfanpfj￿￿- DL*¥LI P Cr. )' coii1rj¥￿ If Il"- pAJmiic.i bj ￿..9h11£1r m-tsri41 rnylle v of*o["QL"Thi 3L."iCar￿•f ¥ ¥x-'rniw. y O,IELl