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2022-10-31-accounts

Ocean Youth Trust South Adventure Under Sail

2022 Annual Report

© Ocean Youth Trust South 2023

This Annual Report sets out the financial statements of Ocean Youth Trust South, in addition to highlighting the achievements and key developments for the year.

Table of contents

THE OBJECTIVES OF THE TRUST .............................................................................................................................. 3 ABOUT OCEAN YOUTH TRUST SOUTH .................................................................................................................... 4 THE 2022 SAILING SEASON ..................................................................................................................................... 5 WHAT OUR CUSTOMERS AND CREW SAY ABOUT OYT SOUTH ............................................................................. 11 2022 FACTS AND FIGURES ..................................................................................................................................... 15 MAKING A LASTING DIFFERENCE .......................................................................................................................... 16 # SAIL TO WELLBEING ........................................................................................................................................... 17 DONATIONS AND SUPPORT .................................................................................................................................. 18 YOUNG VOLUNTEER OF THE YEAR ........................................................................................................................ 19 FINANCE AND FUNDING ........................................................................................................................................ 20 OYT SOUTH STAFF ................................................................................................................................................. 21 SALLY CROLY – OYT SOUTH OFFICE 2003-2023 ..................................................................................................... 22 OYT SOUTH BOARD OF TRUSTEES ......................................................................................................................... 23 PATRON AND VICE PATRONS ................................................................................................................................ 25 A NEW WEBSITE .................................................................................................................................................... 25 ADVENTURE UNDER SAIL WITH OCEAN YOUTH TRUST SOUTH IS AN IDEAL ENVIRONMENT FOR THE DEVELOPMENT OF YOUNG PEOPLE BECAUSE: ..................................................................................................... 26

Financial statements for the year ended 31[st] October 2022

CHARITY INFORMATION ........................................................................................................................................ 30 TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT ................................................................................................ 31 INDEPENDENT EXAMINER’S REPORT .................................................................................................................... 36 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) ............................ 37 BALANCE SHEET AS AT 31 OCTOBER 2022 ............................................................................................................ 38 STATEMENT OF CASH FLOWS ............................................................................................................................... 39 ACCOUNTING POLICIES ......................................................................................................................................... 40 NOTES TO THE FINANCIAL STATEMENTS .............................................................................................................. 42

OCEAN YOUTH TRUST SOUTH

Registered Charity No. 1079959

2022 ANNUAL REPORT

For the year ending 31 October 2022

The Trust is registered in England and Wales as a company limited by guarantee (No. 3898084)

The Trust’s address for correspondence and registered address is:

8 North Meadow, Weevil Lane, Gosport, Hampshire, PO12 1BP

Tel: 02392 602278

Website: www.oytsouth.org

Email: office@oytsouth.org

THE OBJECTIVES OF THE TRUST

Ocean Youth Trust South exists to offer personal development through adventure under sail to young people aged 11 to 25.

The majority of young crew members come from vulnerable or disadvantaged backgrounds or face significant problems at home or at school; but there are also places for young people from mainstream backgrounds.

Young crew members living in a wide variety of circumstances benefit enormously from being taken right out of their familiar environment and encouraged to face new challenges, enjoy new experiences, make friends, work as a team, acquire new skills and, above all, develop their confidence.

In practice this is achieved by putting twelve to fifteen young people together on board our 32-metre ketch, Prolific, with safety and support provided by skilled sea staff.

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ABOUT OCEAN YOUTH TRUST SOUTH

Background and purpose

OYT South people and organisation

OYT South is managed by the Chief Executive and Chief Operating Officer, reporting to the Board of Trustees.

On board Prolific are the Staff Skipper and Staff Engineer, alongside a third post which in 2022 was a Staff Cadet but in 2023 is a Staff Mate.

Ashore, there have been some changes of personnel and roles covering finance, administration, bookings, volunteers and membership; but overall still amounting to one full-time and two part-time staff.

We are also grateful for the commitment of our volunteers, who sail as sea staff, undertake vessel maintenance and provide essential shore support.

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THE 2022 SAILING SEASON

The 2022 sailing season began on 23[rd] March with some of the most glorious weather we have ever enjoyed so early in the year!

The first client of the year was Greig City Academy in Haringey, north London, who sent us a group of 12- and 13-year-old girls with an immense diversity of family backgrounds. They had a week of sunshine in the Solent, with visits to the beach where they even tested the water temperature! At anchor in Totland one night, Prolific was spotted by a professional photographer, Sienna Anderson, who took some amazing shots:

However, these conditions could not last, and the next voyage, with young people in care in Southampton, faced 40-knot squalls and horizontal rain. This was a real insight into the challenges faced by looked after children, as four of the initial group had changes of foster placement shortly before the start of the voyage, and the profoundly unsettling effects of finding yourself living with strangers, often with very little notice, were clear to see. Some of the most heartfelt comments at the end of the voyage were about the friends they had made: it was clear that some had bonded over shared experience.

Every year our major sponsors MDL Marinas send some exceptional young award winners to sail with us – young people who have experienced genuine adversity but are still making a positive contribution to their schools, families or communities. This year’s group was outstanding, as ever. Skipper Holly wrote: “I’m quite proud of this voyage, in that I think it encapsulated why sail training exists: a group of very deserving young people from diverse backgrounds became a fun, supportive, and efficient team. We sailed decent distances, enjoyed downtime at anchor and whilst

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exploring new locations, and ultimately had fun with new friends. Everyone received a Competent Crew award, but the bigger achievement was ultimately the feeling we all got at the end of the trip: that of being a family.” One young carer said: “I feel like the best thing that has happened to me … I would definitely go on this experience again … I think the most memorable is probably everyone just getting along and just having fun because that's really all that matters”; and a 17-year-old who has faced a lot of challenges in her life said: “Loved the trip. It was a great way to disconnect from the outside. Hope to be back soon.”

Our Easter voyage included a lot of young people who had been awarded funding support for various reasons – there were young carers needing a break from demanding home situations, and others with additional needs. A 15-year-old said her best bit was when she and one of the younger boys were “cranking the winch because I would see him struggling and then I'd get my hands on there and we'd be going so fast. And the kind of euphoric feeling of how quickly we were able to hoist and tighten any ropes. And I’d say my best bit in terms of the most kind of challenging thing where I really felt like I pushed myself was with the mainsail hoist.

That was a, you know, very kind of out of my comfort zone experience.” A 13year-old said: “ My most memorable part is going on the bowsprit for the first time, and like seeing how good I am at heights and stuff like that” and another said he would remember: “Just yelling my lungs out to 'Living on a Prayer' whilst doing extreme washing up.” One support worker wrote to us about a boy they had nominated: "I am really glad he went along, the recent loss of his mother has made him start to disengage so the fact he was able to get away and have some respite will have been really beneficial" ; and the mum of a girl who has used sailing to overcome bullying and lack of confidence said: "Just to say a massive thank you so much for the recent trip that [my daughter] took last week. She had an amazing time and has not stopped talking about it. She enjoyed every single minute and thought the whole thing was fantastic...she has even taken "happy hour cleaning" to our home and also the washing up routine so, as a mum, I would like to thank you for that too!!! ... She would definitely like to be considered as a volunteer for future trips. Thank you from the bottom of our hearts."

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A teacher who accompanied students from two schools in the west midlands said: “My favourite memory is watching how everyone's grown. I've tried to have little individual chats with you from both sets of schools, just to try and find a bit of information about you, and kind of the challenges and barriers that you have, and your dreams and hopes for the future, and I have no doubt that this trip will have a

massive impact on you and get you to be focused on what you want, and I think that's incredibly fortunate to have that experience of watching people grow.” Friendship was a big theme of this voyage: a 14-year-old said: “The best part about this trip was definitely the dinners here with everyone, it just feels so nice to sit around a lot of people from different backgrounds and just talk like we've known each other for ages, ‘cos at home I don't get that opportunity” ; and another told us: “ It's taught me skills and it has brought me out of my shell!” and “I really loved this voyage because it has really boosted my confidence” .

Young people from all backgrounds can benefit from our voyages. Bruern Abbey is an independent school working with boys with dyslexia, dyspraxia and other learning difficulties, and their confidence was memorably boosted by their success in taking charge of the vessel and navigation on the last day: “My most memorable thing of this trip is probably working as a team to get back to Ocean Village. I really enjoyed it and it was the best thing of this trip”.

It has always been immensely important to OYT South that we should keep up links with our earliest days as the Ocean Youth Club, and ensure that the spirit of the founders lives on, as well as recognising the contributions of all the very many staff and volunteers who have kept the charity going for 63 years so far! In June we were delighted to see some old friends on board, including Kit Power who was a governor of the charity in the 1960s, and took great pleasure, at the age of 88, in breaking the record for the oldest person to go out on Prolific’s bowsprit.

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Harris Merton school in south London had been waiting for their voyage since before the pandemic: this is a school with a high proportion of students from Afro-Caribbean backgrounds and many eligible for Pupil Premium funding and free school meals. There were lots of examples of how their confidence had improved over the “ voyage: Spoke to more people, made friends” ; “Being able to do things independently” ; and “Feeling confident in steering” .

Our summer voyages, largely for individual bookings rather than organized groups, clearly had a positive effect on people who had missed out on social development during the pandemic: “I'm not that great at making friends but I have made friends with everyone here and I think the trip went really good” and “I was pretty nervous as I got on the Prolific but after a day I felt at home because of the people and welcoming and kind atmosphere”. A mum wrote: “I just wanted to drop a line to say how much my daughter enjoyed her voyage which ended last Monday. I don't think I've ever seen her so enthusiastic both throughout the time she was on the boat and all she's talked about since she's come home. She loved the teamwork, the way the leaders knew how to get the best out of them all and of course living life at sea was amazing to someone who's lived in London all her life.”

The summer holidays ended with a voyage from Poole back to Southampton where a crew member said: “My favourite bit, I think that was actually probably doing where we were steering ourselves and planning our own route because that felt like a really big achievement” , and a parent wrote: “Clearly the OYT has bagged some absolute gems of staff; they were

obviously patient, humorous, helpful but firm by turns.” Another mum who sent three children on two different voyages this summer wrote: “ I wanted to say what an incredible experience all three of my children had on Prolific , this summer. It really was ‘one of the most awesome things’ they had ever done! and they all missed being on the boat for some time afterwards … It had obviously taken a really special place in their hearts. … They had huge praise for all the staff and volunteers who made it such a super experience … These people will be ones

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that stay in their memories forever; real role models to keep hold of, as they tackle life's many challenges … Most of the magic and memories will be theirs to keep inside - but all the touches we heard about made it well over and above what we expected: e.g. the fantastic and plentiful food and the bedtime story for all ages - inspired. Parents and grandparents loved following it all on social media and in your newsletter - so thank you for that, and we have now discovered that shipping tracker apps are very addictive!!”

This year OYT South had a generous grant from the Gipsy Moth Trust to support a voyage for young people making the transition from teenage crew to trainee watchleaders and bosuns, leading, teaching and supervising others. One said: “My memorable bit was when I was told I had to take down the mizzen

and I had to lead it and I stressed myself out and I knocked my confidence by doubting myself and I was going like, 'I can't do it, I can't do it,' and then I done it and then Andy [first mate] took me to the side and he said, 'you just did it, you can do it,' and I think that was just like a really nice, just a really nice little chat”. Another said: “My favourite bit has just been really watching everyone throw themselves into leading stuff, it's been really really impressive. But also how everyone else supported them when they were doing leading, that was really really good.”

Southampton International Boat Show asked us to organise a day sail for Redbridge School, based near the port of Southampton – the school chose students from a project to develop resilience and worked with them in advance on trying new experiences and having a go at things even if you feel

nervous. One girl was terrified of going out on the bowsprit but steeled herself to try, so when she wrote in the comments book “It was fun and I tried the net of the boat”, that was a statement of real pride and hard-won achievement.

A parent wrote after a voyage for Cowes Enterprise College: "Thank you all so much, he has really enjoyed his time with you guys, an amazing experience for him and it's lovely to see him come out of his shell and his comfort zone. He hasn't stopped talking about his time away which really isn't like him."

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The final youth voyage of the season was for a group from east London.

One boy said: “Everyone was co-operating and it was lovely because everyone made new friends, they had fun, everyone had to work hard and some people even enjoyed sleeping on the boat … it's an amazing co-operation where people can always go on the sea, do a lot of hard work, it's like five days off from the land and you enjoy yourself on the boat, it's like a new experience for everybody because some people haven't been on a boat before, and it's lovely.” Another said: “My favourite bit is the fact that I know how to sail a boat without no-one like to help, I just know how to do it” .

That completed our first full season since 2019, after losing the whole of 2020 and half of 2021 to Covid.

Ocean Youth Trust South would like to record our immense gratitude to the sponsors, donors, clients, volunteers, staff and other supporters who saw us through the long months of the pandemic and ensured that the charity returned in a strong position to support the young people who who are still living in the shadow of lost opportunites, missed milestones and restricted development. The need for activities which take young people out of doors, learning new skills, developing independence and maturity, making new friends and overcoming anxiety and lack of confidence, is all too clear.

This report shows some of the broad range of young people who have sailed with us and how much their voyage experience meant to them as well as their families, schools and other organisations who helped to put their voyages together.

We are so grateful to everyone whose support helped to make this possible.

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WHAT OUR CUSTOMERS AND CREW SAY ABOUT OYT SOUTH

The mum of a boy with ADHD wrote a letter which sums up what so many people tell us a voyage can mean for people facing difficulties in education and everyday life: “I can’t tell you how much this kind of experience means to a child who struggles at school, rarely gets praised by teachers, often feels a failure, not reaching the mark, needs to try harder, could do better etc…etc…. What an absolute boost to his self-esteem this week has been … When he came home yesterday he was on such a high … Many many thanks to everyone involved, it is appreciated in so many ways.”

A 17-year-old who went into care aged 11 after the death of her mother said: “Had such a wonderful week! Was very overwhelming because of all the happiness I got … thank you all, I have never felt happier … My most memorable bit I think is probably just the peace you got with yourself when you were like at sea and like everything just felt perfect. As cringey as it sounds … I just felt really at ease and just happy with myself, and yeah, it was just nice.”

On a voyage for CHILDREN IN CARE IN HAMPSHIRE , a 14-year-old girl who lives in a children’s home said: “I loved every minute of it, it has changed my thoughts about going outside and getting stuck into things.”

APPLEMORE COLLEGE was just one of many clients where we saw a significant post-pandemic increase in the number of young people living with mental health issues including anxiety and depression. A parent wrote: “Wanted to pass on a massive thank you to the team looking after Applemore College this week. My daughter was part of the group and absolutely loved it. She had a bit of a panic attack aboard but the way the staff dealt

with her was perfect and we are both really grateful. Really impressed by how it is all run and the way the kids were looked after. She will definitely remember the trip for life.” Others are acutely aware of all that they missed during lockdowns: one student said: “This trip was the best since I hardly ever go out, this was great because I somehow learnt a lot” , while another told us: “This trip has made me more confident in staying away from home” .

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THE AMBER FOUNDATION offers residential support for young adults who have been homeless, many with other problems including a history of substance abuse, domestic violence or mental health issues; a voyage is part of a programme of activities designed to help them move on into employment and independent living. One said: “This voyage was an amazing opportunity … It has really helped me in overcoming challenges and being more comfortable with new experiences”.

A new client, PORTSMOUTH VIRTUAL SCHOOL , sent an impressive group of young people in care, aged 14-17. Two had travelled unaccompanied from Syria and three from Afghanistan – one was separated from his family in Europe and has still not managed to find out what has happened to them. Some displayed courage by coming sailing, having had bad experiences making journeys on small boats. They came on board with an adult leader who said: “My most favourite thing is watching you all laughing so much together and being kind, taking care of each other so much, it's been amazing to see that in all of you.” A girl aged 15 said: “This voyage has been much better than I ever thought it could be! The mates and crew have been spectacular there was nearly always a laugh and best of all when I first boarded I knew nothing of sailing now it's all I talk about!”

ALFRETON PARK COMMUNITY SPECIAL SCHOOL is a client which has worked with us for many years, sending students with complex needs including Downs syndrome, cerebral palsy, global development delay and more, plus adult carers who said: “Wow. What a week … Staff were amazing by explaining things and being great with the students” ; “What a wonderful week and breadth of experiences for our young people, all of whom had such a brilliant time. The crew were so supportive and hard-working too” ; and “Amazing week, all staff were fantastic, they included all pupils and adapted activities so they could be involved. Made us all feel welcome.”

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An adult day sail included a representative of the LORD LIEUTENANT OF HAMPSHIRE , who said: “I so enjoyed my first sail on Prolific on Friday, and the more I think about it the luckier I feel to have experienced such a perfect sailing day in so many ways. I was hugely impressed by the crew, who made us all feel so welcome and who gently involved every one of us in the running of the ship, as evidenced by the glowing tributes expressed at the de-briefing. I am so glad to have the opportunity to experience all of this and to be able to convey the LordLieutenant’s appreciation of the wonderful and hugely beneficial work that you all do for the community on board Prolific .”

The ELLEN MACARTHUR CANCER TRUST brought us ten young men with experience of cancer. Their comments included: “My best bit is a close competition between the teamwork and just working with everybody who, we were all just strangers about seven days ago, and now we're a good, solid team: that's just amazing … the most memorable bit, that I'll tell my great grandkids, is probably just the ability for a boat to make a team out of total strangers. That's special.”

The MACS CHARITY sends us young people born without eyes or with underdeveloped eyes, as well as a number of sibling carers. One said: “It's just been really nice to not feel like different for once because of an eye condition and to be with other people who are similar, it's been really nice to get involved and meet people like that.”

SHOOTING STAR CHILDREN’S HOSPICES organised a voyage for ten young people who either have a lifelimited brother or sister being supported by the hospice, or are from a family being supported by the hospice following the death of a child. A girl aged 14 said: “The whole trip was a really nice break for my mental health” and another said her best bit

was “all the new people and the connections that I've made between everyone, like from the beginning to the end it's just got stronger and stronger … and the most memorable bit … all the new skills I've learnt, all the things that I was really nervous to do and I've gone, 'I'm not doing that,' and then I end up doing it and it's been my favourite bit.”

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On a weekend VOLUNTEER TRAINING

voyage, one participant said: “Above all I have this real sense of the culture on this boat which I think is one of professionalism, it's one of learning, one of team spirit, and importantly too, one of humour. I've really enjoyed it, favourite moment no doubt was having a cup of tea on the bowsprit, for those of you who said you wished you had the superpower of flying, I would liken it to that.” Another said: “I'd echo the professionalism and I think the standard of training is really brilliant

and particularly I wanted to mention that all the permanent crew and the watchleaders were so good at giving instruction: you were making it very clear, and you were being very courteous and being extremely patient with us, and I thought your communication was really good and inspiring to draw out the best in people.”

East London charity AMBITION, ASPIRE, ACHIEVE supports young people from the borough of Newham. One of the adult leaders who came with the group told us: “A really good part for me was getting to see all the young people that I work with, working as a team together and putting their differences aside, and focusing on what needed to be done … Lots of learning and development made, thanks to you all” and after the voyage was over, the AAA organiser wrote to say: “ I would like to take this opportunity to say a huge thank you to you, the crew and the captain for their patience and understanding and making the voyage a

wonderful and fun experience for the young people. l know the young people were the most challenging we have sent on this trip. The young people were all smiles and talking about everything they had learnt and how much they had enjoyed themselves over the five days.”

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2022 FACTS AND FIGURES

Berth sales: We ran a full programme of 47 voyages and day sails from March to November with only one and half voyages lost to Covid. This compares with 23 voyages and two day sails completed in 2021 and none at all in 2020.

We had 597 crew berths available in 2022; we allocated 594 of them (99%); and 549 people actually sailed in crew berths (92% occupancy). Twelve people should have sailed on the voyage which was entirely cancelled due to Covid, and the remaining 33 unfilled berths were a combination of last-minute cancellations (often due to positive Covid tests) and clients who wanted to keep an exclusive booking despite having fewer than 12 people in their group.

Crew members: 348 (63%) of people in crew berths had some specified disadvantage and a further 29 places went to adults essential for disadvantaged young people to sail (e.g. carers and support staff) – making 377 (69%) in total. 187 people had some form of physical or learning difficulty or mental health issue. Many came to us via mainstream and special schools, youth groups and other charities. But we still offer places for young people from all backgrounds: you do not need to be disadvantaged to sail with us.

Excluding volunteer training voyages and adult day sails, almost 28% of young crew members on these voyages were aged 13 or under; just over 28% were aged 14 or 15; 26% were 16-18; 10% were aged 19-25; and 8% were leaders or carers aged 25+, or disadvantaged adults.

Berth cost subsidies: All crew members aged 11-25 had a basic subsidy of 50% of the true cost of running their voyage, paid for through our fundraising. This keeps voyages affordable for young people from the widest possible range of backgrounds and is a key element of our charitable purpose. In addition, 160 young people were allocated additional bursary funding thanks to OYT South’s generous donors, either because they had some disadvantage or as members of our trainee volunteer programme who needed experience to work towards watchleader or bosun qualifications.

Volunteers: Volunteers gave 1,043 days to sail on our voyages. A quarter of staff and volunteer berths were filled by people aged 25 or under.

Sailing programme: Prolific covered 4,745 nautical miles during the 2022 season.

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MAKING A LASTING DIFFERENCE

In 2022, 429 people completed Outcomes Wheel self-evaluation sheets. This involves individuals giving themselves marks out of 6 in various areas at the start and end of a voyage, so we can measure changes in how they feel about themselves. The graph shows average start and end scores. The biggest change was for ‘feeling confident’ where the average mark out of 6 rose from 4.03 to 5.17, a 28% improvement. There was a rise of 19% each for ‘dealing with setbacks’ and ‘working in a team’; 17% for communication (speaking and listening)’; 16% each for ‘learning new skills’, ‘compromise and negotiation when living with different people’ and ‘coping with new experiences’; 14% for ‘getting on with people’; 10% for ‘learning from experience’ and 9% for ‘looking after myself’.

----- Start of picture text -----
Feeling confident
Working in a team
Learning new skills
Coping with new experiences
Getting on with people
Dealing with setbacks
Compromise & negotiation
Learning from experience
Communication (speaking and listening)
0 1 2 3 4 5 6
Start voyage End voyage
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Further evidence of real achievement is that 276 people earned Royal Yachting Association Start Yachting certificates in 2022, and 82 earned the more advanced Competent Crew certificate. We always stress to young people – especially anyone likely to have little to show by way of academic qualifications – that these certificates mean far more than basic sailing competence: to earn them, a young person must have listened, concentrated, worked in a team, taken on the routine tasks as well as the exciting ones, practised new skills until they mastered them, coped with unfamiliar situations, lived in a confined space with people they don’t know, followed safety instructions and much more.

Sail training helps young people to develop the skills to succeed in life, and we can help them move on with real evidence of these skills.

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# SAIL TO WELLBEING

One of the key ways through which OYT South seeks to make a lasting difference to young people is through #SailToWellbeing.

Families, schools, communities and potential employers are all aware of the need to promote physical and mental wellbeing; and following the Covid-19 pandemic, the wellbeing of young people has come into even sharper focus.

Research by the New Economics Foundation, promoted by the NHS and MIND, has found evidence of five steps people can take to improve mental health and wellbeing. The NHS says "Trying these things could help you feel more positive and able to get the most out of life."

The steps are:

  1. Connect with other people

  2. Be physically active

  3. Take notice and pay attention to the present moment

  4. Learn new skills

  5. Give to others

Every one of these five steps is a natural part of a sail training voyage.

You really can #SailToWellbeing.

See https://www.oytsouth.org/wellbeing/ for examples of how young people – and adult staff and volunteers – can #SailToWellbeing.

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DONATIONS AND SUPPORT

Ocean Youth Trust South is enormously grateful for the donations of funds or equipment we receive from many individuals and organisations, as well as many contributions in the form of time and expertise. Without this support, we would not be able to keep Prolific in such good condition, and offer so many opportunities for young people from different backgrounds. Our sincere thanks to all who have supported us in many different ways, including:

Aeoliki * AkzoNobel * Amazon Smile * Sienna Anderson * Janice Aslin

Association of Sail Training Organisations * Aumund Foundation * Baily Thomas Charitable Fund Claire Barker * Paul Bartlett * The Estate of the late Mark Batchelor * Bassil Shippam and Alsford Trust Colin M Baxter * BD marine * Chichester U3A * In memory Chris Beddow * Gill Beddow * Peter Binning Blue Spire Accountants * Veryan Boscawen * Andy Bristow * British Marine * Paul Burnett Bursledon Outboards * Michael Campbell * Rosemary Campbell * David Cannell * John Caulcutt Lindy Chamberlain * Charities Trust * Chase Sailing Club in memory Chris Beddow * H Chee Simon Cleaver * Andrew Clifford Hill * Fred Cole * Dom Coleman * Glyn Collins * Laura Collins * Will Collins Cowes Harbour Commission * Nic Crawford * Oliver Crosthwaite-Eyre * D. C. R. Allen Charitable Trust In memory Peter Daniel * Dartmouth Harbour * Dean & Reddyhoff Marinas * Diocese of Winchester John Donnelly * Dorset Marine Training * Gary Doyle * M Duckett * Easyfundraising * John Edwards Chris Ellis Award fund * Clifford Ellis * Emma Ellis * Gillian Ellis * Ellis Campbell Charitable Foundation English Braids * Felixstowe Master Mariners * Forsey and Son Ltd * Denise Freeman

In Memory Richard Gales * Patricia Garad * Geoff Herrington Foundation * J C Gilbert * Gipsy Moth Trust Jonathan Glasspool * Graham High Charitable Trust * In memory Roger Grimsdick * In memory Howard Gross Val Hague * Hampshire & Isle of Wight Community Foundation * Dr Stuart Harrison * Vernon Harten-Ash Rob Harwood * John Hasselgren * Carole Hedges * In memory Donald Hedley Taylor * David Heffer Simon Hellberg * The Henry Smith Charity * Hessenford WI * Fiona & John Hicks * RG Hill HMS Sultan in memory Matt Knott * Anthony Hotchkiss * Phillip Hood * N J Houston * Annabel Hudson Peter Hughes * Lord Iliffe * IM Products * International Paint * James Myatt Trust * Christopher Jennings David H Jones * Isaac Jones * JPS Fuels * Kemp Sails Melanie Kent * In memory Colin Keiller Kids Adventurous Activities * Ray Kipling * In memory Matt Knott * Graham Knox * AW Lack * Lambert Trust Chris Lane * Ernst Liehr * Matt Lovett * Lymington Harbour Commissioners * Lady Lucinda Le Marchant Marina Developments Limited * Marine Advertising Agency * Marine Fire Safety * R & M Martin The Honourable Company of Master Mariners * Lucy Mathieson * Adam McNeill * MECAL Medical Support Offshore * Sylvia Mence * Millennium Computer Services * Dr T Morris

In memory Fraser Morrison * Navionics * Ned’s Fund * Bill Newton * Edward Nicklin * Mr & Mrs Norris Andrew Norton * Ocean Safety * Hamish Oliphant * OneOcean * Osmotech * Jeremy & Sue Ouvry Orange County Community Foundation * OYT South Isle of Wight support group * Parkstone Yacht Club J Parry * Martin Parry * Rhys Parry * Stephen Parry * Patrick and Helena Frost Foundation In memory Eric Peacock * Nigel Pearce * Charles Peplow * SM Peskett * Peter Dixon Charitable Trust The Rt Hon. the Lord Phillips of Worth Matravers * Phillips 66 Limited * Jonathan Pinnock Pointer Family Trust * Poole Harbour Commissioners * Poole Quay Boat Haven * Annette Potter Anna Poulson * Robin Powell * Kit Power * Anne Pugh * Libby Purves * Quantum Sails Hamble * Rafiki Alison Ray * Raymarine * Rib Shop * Scott Rigg * Diana Roberts * Robinsons Compass Adjusters * Robline Pete Rollason * Donna Ross * Royal Cruising Club * Royal Dart Sailing Trust Royal Southern Yacht Club Trust in memory Tony Chamberlain * Royal Thames Yacht Club Royal Yachting Association * SAO Associates * Penny Scott-Bayfield * In memory Stephen Scott * Gina Seller Seven Seas Baxter and Grimshaw Trust Ltd * Annant Shah * Zeenat Shah * Jamie Sheldon * Jenny Sherwen Catharine Sillett * Sisters of Bethany * Katie Smith * Southampton International Boat Show South Coast Boat Show * South West Play * Spinlock * Stanbury Chameleon * Joan Stokhuyzen Charlotte Sullivan * Survitec * Penny Sykes * tallshipstock.com * TCW Electrical * Malcolm Thorpe * R H Tingle TK Foundation * Mark Todd * Topsail Insurance Ltd * Peter Tracey * Robert Trimble * Trinity House Hilary Tungate * R S Tyley * Victoria Quay * Vokins Charitable Trust * Vortec Marine Ltd * Jo Walford Sandy Walford * Martin Warburton * Julian Ware * Michael Warwick * Wembury Sailing Club * WesCom Group Weymouth Harbour Commissioners * David Whatton * Whirlwind Charitable Trust * Nick White Clive Williams * #WillDoes * Mr & Mrs Willis * Michael Wright * JM Wyman * Margaret Zuppinger Thanks also to other generous donors who prefer to remain anonymous.

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YOUNG VOLUNTEER OF THE YEAR

In 2022, we received a very generous donation from the Gipsy Moth Trust, aimed at training and supporting young people who excel on an initial youth voyage and are working towards becoming the bosuns and watchleaders of the future. Along with the grant came a trophy: a mounted section of the mizzen mast from Gipsy Moth IV , which after her epic 1967 voyage held the records for the fastest voyage around the world by any small vessel; the longest non-stop passage made by a small sailing vessel (15,000 miles); and more than twice the distance of the previous longest passage by a singlehanded sailor.

For 2023, the award went to Tom Knight. The trophy was presented to him by the previous winner, Sara Abdur.

Although Tom is still aged under 25, he is one of our more experienced volunteers, with several years under his belt as bosun, third mate and second mate.

He originally came to us on a youth group voyage in 2016 when the skipper noted “Wow, how keen. A really enthusiastic young man. He took the lead where he could and encouraged and

praised the others. Reliable in doing all that was asked of him and more, a proactive young man” . He was invited to return for volunteer training and has fulfilled that early promise – along the way becoming a really popular watchleader, with excellent skills in working with young people which he has carried forward into his career as a Paediatric Radiographer. Everyone who sails with Tom speaks of him with genuine warmth, appreciation and affection; and his bedtime stories on board are the stuff of legend.

However, something that helped to tip the balance in Tom’s favour when we came to select the 2023 Gipsy Moth winner was the effort he has put into gaining RYA qualifications and building his experience. His goal is to qualify as a first mate, and Tom is a great example of someone who has been working really hard on developing his skills, undertaking training and earning the certificates which in due course will give him the chance to step up on board Prolific .

19

FINANCE AND FUNDING

In a normal year, berth sales to individuals and youth groups should raise approximately half of the funds needed to run the charity. The rest needs to come in through fundraising. This means that every berth sold to a young person has a subsidy of half what it would have cost without donations.

Donations to Ocean Youth Trust South generally fall into one of three areas:

Team costs: Our staff (on the boat and in the office) are our biggest expense, but we cannot operate the charity efficiently and safely without them. They all put in very long hours and immense commitment. We are only able to keep staffing costs down at this level because of the huge input from our volunteers.

Vessel refit, maintenance and equipment: This covers all the costs of keeping the boat and all her equipment in good condition to ensure we meet or exceed all required safety standards for sailing with young people. It also covers insurance, fuel, harbour fees, food on board and other direct costs of running our voyages. Volunteers also make a tremendous contribution to keeping these costs down – huge amounts of volunteer labour at the winter vessel refit, plus more in-season, provide an enormous saving.

Bursaries for young people who cannot afford to sail: OYT South is committed to keeping our voyages accessible to young people from all backgrounds by subsidising the cost of running our voyages. Some of our young crew members then come from families who can pay the advertised voyage fees; others come through schools, youth groups and charities which help to pay for their places; but a third category of young people have no-one who can support them to sail with us, and generous donors enable us to provide part-funded or fully-funded places for a significant number of applicants each year.

We aim to ensure that our sponsors and donors are kept in touch with our work, and have a chance to see where their money goes and to understand the difference that their support makes. This can include detailed reports; the chance to join day sails or longer voyages on board Prolific ; events on board; and the opportunity to nominate young people to sail with us. We are fortunate in having excellent relationships with key donors.

92.6% of expenditure in 2021-22 went on the direct delivery of our charitable services. (The remainder includes fundraising and governance costs).

20

OYT SOUTH STAFF

Chief Executive – Mark Todd

Previously a solicitor, Mark has been working in sail training since 1997, including nine years as OYT South’s Staff Skipper. He moved into a shore-based role in November 2009, and became Chief Executive in 2010. He is Chairman of the Association of Sail Training Organisations, an RYA Yachtmaster Instructor, a Yachtmaster Examiner, and sits on the Yachtmaster Qualifications Panel. He was the inaugural winner in 2011 of the MCA/ASTO Award for Command Commitment to Sail Training, and is an Associate Fellow of the Nautical Institute.

Chief Operating Officer – Caroline White

Caroline first sailed with the Ocean Youth Club as a teenager in 1983. A former journalist and qualified fundraiser, she looks after the charity’s marketing, communications and fundraising, as well as liaising with clients and volunteers.

Staff Skipper – Diggory Rose

Diggory joined us at the start of the 2023 season. A highly experienced sail training skipper, he had been working with historic vessels for several years but was keen to return to running sail training voyages with young people.

Business Manager – Lynne Robbins

Lynne joined us in April 2023. An experienced manager, previously she had been managing a team of 100 volunteers restoring historic vessels and has also been an HR and Special Projects Manager for a children’s outdoor activity charity. She is already using her skills and experience to make OYT South even better.

Staff Engineer – Joshua Caudery

Josh became involved with OYT South while completing an apprenticeship in marine engineering, and sailed with us as volunteer bosun and watchleader before joining us full-time in November 2015 as Prolific’s Staff Engineer.

Volunteer and Membership Manager – Jo Clark

A keen yachtswoman and dinghy sailor and a qualified RYA Sailability assistant instructor, Jo joined OYT South in 2018 and quickly proved her competence and effectiveness. She has chosen to go part-time in 2023.

Bookings Coordinator – Annette Potter

Annette has a strong background in admin and IT, and as a qualified Yachtmaster whose own children have both sailed with OYT South in recent years, she brings a breadth of knowledge and experience to this role. She has taken on additional responsibilities as we restructured our shore team.

Staff Mate – Lauren Mackenzie

Lauren first sailed with us at the age of 16 and spent the next few years working her way up through the volunteer ranks while finishing school and university. On graduating in 2022, she decided to sail full-time and passed her RYA Yachtmaster exam and OYT South first mate assessment at the age of 22.

21

SALLY CROLY – OYT SOUTH OFFICE 2003-2023

Our Finance Manager Sally Croly left OYT South at the end of May 2023. Sally had been involved with the charity for twenty years – almost the entire span of OYT South’s existence as an independent charity, and a third of the whole period since the Ocean Youth Club was founded in 1960.

She joined a small charity which was just beginning to move on from the breakup of the Ocean Youth Club in 1999. Sally’s contribution was unobtrusive but utterly essential: as she moved from a part-time admin role to a full-time position running the office, the fact that bookings and finances were run efficiently was down to Sally. She provided the secure foundation which enabled us to grow and to start winning awards – including The Queen’s Award for Voluntary Service in 2011, and Sail Training Vessel of the Year in 2016 – as well as fundraising for a new vessel to replace John Laing .

By 2018, Prolific was up and running; bookings were strong and finances were sound; and Sally went back down to part-time hours with a greater focus on the finance side. She has trained, supported and befriended other office staff as they came and went; and when we returned to sailing after the pandemic, Sally’s experience and wisdom was invaluable. Everyone has loved working with Sally and we all depended on her support, help, guidance, honesty, and good humour.

In her time with OYT South, around 10,000 people have sailed with us – which means ten thousand booking forms to process …

Many people sent in comments to be added to her leaving card, including lots of thanks for all her hard work and best wishes for the future, and also reminders of some of the things she has done over the last twenty years: great efforts for the fabulous Ocean Youth Club 50th anniversary event in 2010; recognition for the support she has given to Trustees and to a previous Chair of the Board; memories of laughter and a great atmosphere from a long-serving office volunteer; recognition for helping make the charity the success it is today; and finally one comment which seems to sum up all the rest:

“Sally – thanks very much for helping to make all our lives better for the last 20 years!”

22

OYT SOUTH BOARD OF TRUSTEES

Penny Scott-Bayfield – Chair of the Board

Penny is the Group Finance Director of Bloomsbury Publishing Plc, the listed consumer, academic and nautical publisher. She previously held senior finance roles at Conde Nast, lastminute.com and Sky. She is a keen mentor and judge for the Women of the Future Awards. She joined the Board in 2022 and became Chair in April 2023.

Lesley Robinson OBE – Vice Chair

Lesley is CEO of British Marine, the leisure marine trade association which also owns and runs the annual Southampton International Boat Show. She has a commercial, international and business development background. She is also a NED for Police CPI, a national police crime prevention organisation.

Martyn Powe - Treasurer

Martyn started sailing in 1996 when serving with the Royal Air Force. Two of his children sailed as crew on John Laing so after retiring from the RAF in 2013, he began sailing as a volunteer with OYT South, qualifying as a First Mate in 2015. He now runs a small part time business as a book-keeper and was appointed as OYT South’s Treasurer in 2020.

Steve Lacey – Safeguarding Officer

Steve retired in 2015 after many years as a senior youth worker with Dorset County Council. He first brought a group of young people to sail with OYT South in 2002. He is a keen racing and cruising sailor. He is OYT South's Safeguarding Officer, and sails as first mate.

Sara Abdur - Youth Trustee

Sara is the youth trustee: we always have a trustee in the same age range as our service users. She first sailed with a school group in 2019 and quickly became a keen volunteer, winning the first OYT South Young Volunteer of the Year Award before becoming 2022 Staff Cadet. She now sails as a volunteer second mate.

Brian Eyres

Brian is a former OYC / OYT staff skipper, who got involved with our previous vessel John Laing after the vessel's naming ceremony. A qualified book-keeper, he was Treasurer until 2020.

Richard Griffiths

Richard has been a Trustee since 2009 and was Chair of the Trust from 2013 to 2017. He is a keen sailor. Richard is a District Judge in the West Country with broad legal and regulatory experience.

Ben Martin

Ben works in renewable fuels for Phillips66 and is a member of the Institute of Chartered Shipbrokers. He first sailed with OYT South as a young crew member in 2005 and eventually became a first mate.

Eamonn Feeney

Eamonn is a chartered accountant and former Managing Director of MDL Marinas. He joined the Trustees in January 2013 to provide additional help with finance and general management issues, and was Chair from May 2017 to April 2023.

23

OYT SOUTH BOARD OF TRUSTEES (continued)

Edward Bishop KC

Ed joined the Board in 2017. He is a barrister specialising in medical negligence, human rights, personal injury and police law, and became a QC in 2011. He also plays the fiddle in the country folk band Police Dog Hogan.

Lee Mosscrop

Lee joined the Board in 2019, having sailed as a volunteer for over 10 years before qualifying as a relief skipper on board Prolific . He retired from the Police Service in 2010 and now works as a freelance sailing instructor, delivering instructor training at home and abroad. He also gets asked to appear as an expert witness and to compile post-accident reports in marine accidents involving fatalities or serious injury cases.

John Hicks

John has Board level experience through his role on the Professional Business Services Council at the Department of Business Energy & Industrial Strategy where he is a member of the SteerCo accountable for delivering the Industrial Strategy, a key component of which centred around future UK talent. He has senior level experience in construction engineering and professional business services and is a Director of a south-coast based right-to-manage housing group. A lifelong recreational sailor, he has worked with young people through Sea Scouts - as well as mentoring undergraduates and mid-career professionals.

Roger Bolton

Roger worked on board ex- Americas Cup yachts in the Caribbean before graduating in Yacht Manufacturing & Surveying and then starting work for International Paint where he has held various roles and is now Professional Market Sales Executive, managing the large users such as Pendennis Shipyard, Sunseeker, Princess and Oyster Marine. The role encompasses many aspects from selling paint, fault investigation, paint inspection and paint application.

Nyssa Hutchings

Nyssa teaches at Park House School in Newbury, which has brought school groups to sail for many years, and is also a qualified watchleader. She joined the board in April 2022 to help us keep in touch with the education sector and ensure that our voyages continue to meet the needs of schools and students.

James Stevens

James Stevens is a professional yachtsman and former Training Manager and Chief Examiner of the RYA. He was the RYA's safety spokesman and chaired the National Watersports Safety Committee. He was Chairman of the Association of Sail Training Organisations and is a trustee of several maritime charities. He is chairman of the Yachtmaster Qualification and Disciplinary Panel, a Younger Brother of Trinity House and Fellow of the Royal Institute of Navigation. He has written several books and is a regular contributor to the yachting press when not sailing his 34ft yacht out of Cowes. James was co-opted to the Board in July 2023.

24

PATRON AND VICE PATRONS

OYT South’s Patron is Lord Iliffe , a keen yachtsman. There are nine Vice Patrons:

Michael Campbell Jamie Sheldon Libby Purves Nicholas Bonham Professor Khalid Aziz Mrs Gilly Drummond OBE DL Paul Heiney Rupert MacInnes The Rt Hon. the Lord Phillips of Worth Matravers

A NEW WEBSITE

This year saw the launch of a brand-new website for OYT South, replacing a site which was launched back in 2005 and had become dated and unsuitable for mobile devices. The new site www.oytsouth.org has a modern design as well as a much clearer structure built around three key areas:

Sail with us: The area for young people, parents, carers, teachers, youth workers and others looking send young people sailing with us.

Volunteer with us: The area for people interested in volunteering with us, afloat or ashore.

Support us: the area for sponsors and donors, as well as anyone else who wants to know more about our charitable work and where our money goes.

Outside that structure are sections for our regular newsletter, and the vessel tracking page which is the most popular on the site as friends and family use it to see where the boat is sailing each day.

25

ADVENTURE UNDER SAIL WITH OCEAN YOUTH TRUST SOUTH IS AN IDEAL ENVIRONMENT FOR THE DEVELOPMENT OF YOUNG PEOPLE BECAUSE:

WHAT DO YOUNG PEOPLE GET OUT OF SAILING WITH OCEAN YOUTH TRUST SOUTH?

26

WHO CAN SAIL WITH OYT SOUTH?

We aim to encourage anyone aged 11 to 25 who wants to sail with us, from the widest possible range of backgrounds, including those with no sailing experience as well as keen and competent sailors. We take roughly equal numbers of girls and boys. Some sail as part of a group, with a

group leader if required; others book as individuals and come along to make new friends. Our boat is not specially adapted for people with disabilities, but individuals with a range of physical or learning difficulties have sailed with us successfully.

We also run occasional adult voyages, which can include sponsors, prospective volunteer sea staff, other supporters who want to learn more about our work, or corporate team-building events. Adult voyages can also be run for exactly the same purposes as youth voyages: to develop confidence, broaden horizons and raise aspirations for people who have had limited opportunities in life.

WHAT'S THE BOAT LIKE?

Prolific was built in 2005, inspired by an 1898 fishing boat: she is a fantastic hybrid of traditional character and modern materials. She is 32 metres long overall, including bowsprit. Ketch-rigged, she combines great sailing performance with a design which ensures that young people really

can do everything on board. High bulwarks give a good sense of security on deck. Regular inspections ensure that she conforms to all required safety standards.

She has a large navigation area which allows young crew members to be fully involved with pilotage and passage planning; plenty of galley space where young people take turns to cook meals; more than enough bunks for the usual complement of 12-15 crew and 6-8 staff and

volunteers; and a vast saloon where everyone can sit together for meals and games, and to share in making plans and decisions. This is not a boat where the skipper determines what will happen and then simply gives orders. We aim to explain, discuss and, where possible, offer choices.

27

WHO RUNS THE VOYAGES?

We have a highly-qualified professional skipper; a staff engineer responsible for boat maintenance; and a staff first mate. In addition, we carry at up to six volunteer sea staff on every voyage. All our staff, both professionals and volunteers, possess Royal Yachting Association qualifications appropriate to their level of responsibility, and have passed a rigorous OYT South assessment at the appropriate level.

As well as sailing ability, all our staff are trained and assessed on their suitability for working with young people, and checked with the Disclosure and Barring Service. We aim to have both male and female staff on every voyage. We encourage keen and competent crew members to train as sea staff - those over sixteen can sail as volunteer relief bosuns, and those over the age of eighteen can be assessed on their ability to sail as watch leaders.

A FEW KEY POINTS:

OYT South voyages really are open to anyone. Though the majority of voyages are booked for groups of disadvantaged young people, we have places available each year for young people from more fortunate backgrounds – for DofE Award voyages, leadership training or activity holidays. • We do not require any previous sailing experience.

• A staff : crew ratio of better than 1 : 2 allows for a lot of individual attention.

Our style is deliberately very relaxed and informal – journalist, author and broadcaster Libby Purves described us in the Times as "the larkiest of sail training organisations."

28

OCEAN YOUTH TRUST SOUTH

Trustees’ Report

and Unaudited Financial Statements for the year ended 31 October 2022

Registered Charity Number 1079959 Registered Company Number 3898084

29

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

CHARITY INFORMATION

Chair Penny Scott-Bayfield (Elected 12 November 2022;
elected Chair 24 April 2023)
Eamonn Feeney (Chair to 24 April 2023)
Trustees Sara Abdur (Appointed 12 November 2022)
Edward Bishop
Roger Bolton
Brian Eyres
Eamonn Feeney
Richard Griffiths
John Hicks
Nyssa Hutchings (Co-opted 25 April 2022;
appointed 12 November 2022)
Steve Lacey
Lauren Mackenzie (Resigned 12 November 2022)
Ben Martin
Lee Mosscrop
Martyn Powe
Lesley Robinson OBE
Penny Scott-Bayfield (Appointed 12 November 2022)
James Stevens (Co-opted 17 July 2023)
Chief Executive Officer Mark Todd
Chief Operating Officer Caroline White
Registered & Principal Office 8 North Meadow
Weevil Lane
Gosport
Hampshire
United Kingdom
PO12 1BP
Registered charity number 1079959
Registered company number 3898084
Independent Examiner Geoffrey Frost
Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY
Bankers Lloyds Bank Plc
57 High Street
Christchurch
Dorset
BH23 1BB

30

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT

________________

The Trustees, who are directors for the purposes of company law, present their report and financial statements for the year ended 31 October 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Chair's report

This financial year represents a return to near-normal working after two years disrupted by the Covid-19 pandemic. Having been unable to operate at all during the 2020 sailing season and having lost 40% of the 2021 season, we were delighted to be able to offer a full programme of voyages in 2022. In the event we only lost a voyage and a half to Covid during the year.

We began 2022 with voyages restricted to 12 young people instead of the previous maximum of 15, to allow for some distancing on board, though as the season went on we were able to go up to 15 crew for several clients. This meant that we were able to fill 549 berths compared with 219 in 2021 and 566 in our last pre-Covid season in 2019.

It was very clear during the season that significant numbers of young people continue to struggle with the lasting effects of the pandemic, which has affected their social and academic development as well as their physical and mental wellbeing. By offering sail training opportunities with appropriate support on board, the Trust believes that we are addressing genuine and significant needs. This can be demonstrated through excellent feedback received during the season as well as the willingness of many clients to make repeat bookings. Developing confidence, team-working, resilience, communication and more is key to giving the current generation of young people the skills they need to succeed in life. The Trustees are determined to do everything possible to ensure that Ocean Youth Trust South remains in a strong position to play our part.

Looking ahead to the 2023 sailing season, the Trust is planning for a full season of voyages from March to November, though we recognise that Covid-related cancellations are still a possibility.

The Trust owes immense gratitude to the staff, volunteers, sponsors, donors and other supporters who ensured that we came through two very challenging years in such good order and ready to meet the demand for our services. I would like to thank all involved for their hard work and continued support.

Objectives and activities

Objects and aims

Ocean Youth Trust South exists to offer personal development through adventure under sail to young people aged 11 to 25.

The aim of our work is to help young people develop the skills they need to succeed in life.

Public benefit

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Use of volunteers

The Trust relies on voluntary help. Volunteers gave 1,043 days to sail on our voyages during the 2022 season and we also had invaluable help with vessel maintenance, office work, fundraising and more.

31

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT

________________

Achievements and performance

Financial review

Because 2022 was almost a full season, while 40% of the 2021 season was cancelled by Covid, comparing the two financial years inevitably shows both income and expenditure higher in the year ending October 2022.

Trustees would like to draw attention to a number of areas:

Staffing

The charity continues to have three seagoing staff: a Staff Skipper and a Staff Engineer as in previous seasons, but in November 2022 we introduced a Staff Mate instead of a Staff Cadet. This is in response to a shortage of volunteer first mates which was exacerbated by the pandemic, when some volunteers retired while the lack of sailing delayed the development of individuals who might otherwise have been approaching the required standard. The Staff Mate requires significantly more qualifications and experience than the Staff Cadet and therefore comes with higher salary costs (up by £8,504). In the 2023 season, this will be partially offset by a two-month gap between outgoing and incoming Staff Skippers which saved around £6,000: Holly Vint left in December 2022 and was replaced by an immensely experienced sail training skipper, Diggory Rose, who joined in March 2023.

Ashore, the charity has operated in recent years with the Chief Executive and Business Manager plus one full-time and two part-time staff members. However, for the 2023 season, the Admin Manager (previously full-time) is reducing her hours to half time and the Finance Manager (previously two days a week) is giving up work after twenty years with the charity. The Trustees also wished to address the workload of the two senior managers which we recognised was putting them under unsustainable

32

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT

________________

pressure and creating a risk to the Trust’s successful operation. The Business Manager has therefore become Chief Operating Officer, allowing the charity to recruit a new Business Manager; and the Administrator (previously three days a week) is going up to four days.

These staff changes, together with pay rises, means that the salaries budget for the year ending October 2023 is £226,366, compared with £207,110 paid in the previous year. In 2023 the Trust also paid oneoff cost of living payments to staff: £5,420 paid to staff (total £6,331 including increased pension and national Insurance contributions).

Clients

Many clients had paid, in part or in full, for 2020 voyages which were cancelled, but chose to ask us to hold those funds on account for future voyages rather than asking for a refund. This was evidence of the continuing commitment of our clients and their belief in the value of the work we can do with young people. Significant numbers of these clients enjoyed replacement voyages in 2021; but owing to the shorter season and client availability, some replacement voyages happened in 2022.

The 2023 sailing season is therefore the first for some time in which all voyages needed to be sold from scratch, and the Trustees have been very pleased with the level of demand, with a good mix of repeat bookings and new clients.

Donors

The intention over the longer term is to achieve a position in which the Trust receives approximately 50% of its funds from voyage fees paid by young people and their families or the organisations which arrange for them to sail with us, and fundraises to meet the remaining requirement. The trustees are enormously grateful to the many very generous donors who support the charity.

Year end position

At the end of the year the charity was in a satisfactory financial position, with total reserves of just over £1.26m dominated by Prolific and her future needs, as follows:


ed by_Prolific_and her future need
s, as follows:
Type of reserve
Restricted
Designated
General
Total		 £
498,811
507,349
255,308
1,261,468

At the year end the restricted funds balance comprised the residual value of Prolific herself and cash specifically donated for the remaining refit work in future years.

The trustees have designated funds to cover those future likely repair and refurbishment costs too material to be funded from a normal year’s operating cash flow. It will be the trustees’ intention to review and adjust this Designated Fund from time to time, where possible, so that the charity maintains the ability to cope with expected future material repair needs.

As usual, the charity maintained a general reserve of some six months normal operating costs.

The amount held in cash and cash equivalents is £223,365 (2021: £560,234) but with an additional £580,000 invested this year in liquid funds which can be realised relatively quickly if necessary.

The figure for cash generated from operations was £30,034 (2021: £72,479).

Policy on reserves

The Trust’s policy is to hold free reserves of between three and six months’ operating expenses. Trustees aim towards the upper end of that range. Free reserves at this level permit the trust to continue operating without income for a sufficient period either to source additional funding donations or wind up activities in an orderly manner.

33

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT

________________

Investment policy and objectives

Early in the year the Trust invested £580,000 in Quilter Cheviot's Climate Assets Fund, as planned, being those funds not needed on a day-to-day basis. Despite the subsequent impact on investment values, the Fund has held its value and the trustees are satisfied with its performance.

Going concern

The Trustees considered a range of scenarios for the 2023 season including the possibility of once again losing a number of voyages to Covid, while continuing to operate at below maximum occupancy on some voyages. This could make significant inroads into our designated reserves; but would still leave us with sufficient funds to continue operating. However, as things stand, with a full programme of voyages planned, and with the continued support of our donors, we have a chance of performing better than the most cautious scenarios. Therefore, the Trustees are satisfied that, with our continuing success in bringing in new funds and the enthusiasm of our established clients to sail with us, the charity has adequate reserves to see us through the 2023 season and the winter 2023/24 refit and maintain itself as a going concern into the future.

Structure, governance and management

Nature of governing document

Ocean Youth Trust South is a company limited by guarantee, constituted by the Memorandum and Articles of Association. It is a registered charity governed by a management committee drawn from individuals elected at an annual general meeting (the trustees).

Trustees serving during the year

Sara Abdur (Appointed 12 November 2022) Edward Bishop Roger Bolton Brian Eyres Eamonn Feeney Richard Griffiths John Hicks Nyssa Hutchings (Co-opted 25 April 2022; appointed 12 November 2022) Steve Lacey Lauren Mackenzie (Resigned 12 November 2022) Ben Martin Lee Mosscrop Martyn Powe Lesley Robinson OBE Penny Scott-Bayfield (Appointed 12 November 2022 James Stevens (Co-opted 17 July 2023)

Recruitment and appointment of trustees

The Trustees may co-opt additional trustees subject to confirmation by the membership at an AGM.

Induction and training of trustees

A Trustee Induction Pack has been prepared summarising a trustee’s duties along with the history, operating methods, staffing structure and finances of the trust. All new trustees are invited to meet with the Chairman and Chief Executive to discuss the role and the organisation.

Organisational structure

The Trust is managed by the Chief Executive and Chief Operating Officer in accordance with the policies set out by the Trustees. In matters of seamanship and vessel safety the skipper in command of the vessel has the ultimate decision-making authority having due regard to the standard operating procedures laid down by the charity. The charity is a member of the Association of Sail Training Organisations and is a Royal Yachting Association Sea School.

34

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT

________________

Major risks and management of those risks

The operational risks are addressed by rigorous operating standards addressing all aspects of safety on board, and the financial risks by both maintaining adequate reserves and by a continuing effort with a wide range of supporters and donors to do everything possible to maintain income.

This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006 and approved by the Board of Trustees.

..........................

Penny Scott-Bayfield Date 26 July 2023 Chair

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OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

INDEPENDENT EXAMINER’S REPORT

____________

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 October 2022 which are set out on pages 37 to 48.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Geoffrey Frost BSc(Hons) FCA Blue Spire Limited, Chartered Accountants

Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Date: 26 July 2023

36

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

____________

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Investments
2
Charitable activities
3
Other trading activities
4
Total
EXPENDITURE ON:
Raising funds
5
Charitable activities
6
Total
Net gains / (losses) on investment assets
14
Net income / (expenditure)
Transfers between funds
18
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
18
Total funds carried forward
18		 Unrestricted Funds


£
59,351
3,821
159,455
406
223,033
28,242
172,700
200,942
(10,523)
11,568
-
11,568
751,089
762,657		 Restricted Funds


£

264,275

-

-
-

264,275

-
234,123

234,123

-

30,152

-

30,152

468,659

498,811		 2022 Total Funds
£

323,626

3,821

159,455

406

487,308

28,242

406,823

435,065

(10,523)

41,270

-

41,720

1,219,748

1,261,468		 2021 Total Funds

£

315,060

408

81,433

74

396,975

27,029

322,666

349,695

-

47,280

-

47,280

1,172,468

1,219,748

The statement of financial activities includes all gains and losses recognised in the year.

All of the above results are derived from continuing activities.

37

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

BALANCE SHEET AS AT 31 OCTOBER 2022

____________

Note
FIXED ASSETS
Tangible assets
13
Investments
14
CURRENT ASSETS
Debtors
15
Cash at hand and in bank
Total current assets
CURRENT LIABILITIES
Creditors: Amounts falling due within
one year
16
Net current assets / (liabilities)
Net assets / (liabilities)
THE FUNDS OF THE CHARITY
Restricted funds
18
Designated Funds
General Funds
Unrestricted funds
18
Total charity funds		 2022
£
£
504,383
573,050
1,077,433
73,880
223,365
297,245
113,210
184,035
1,261,468
498,811
507,349
255,308
762,657
1,261,468		 2021
£
£
539,128
-
539,128
56,827
783,599
840,426
159,806
680,620
1,219,748
468,659
507,349
243,740
751,089
1,219,748		 2021
£
£
539,128
-
539,128
56,827
783,599
840,426
159,806
680,620
1,219,748
468,659
507,349
243,740
751,089
1,219,748
1,219,748
468,659
507,349
243,740
751,089
1,219,748

For the year ended 31 October 2022 the charity was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 38 to 49 were approved and authorised for issue by the trustees on 26 July 2023 and signed on their behalf by:

.............................. Penny Scott-Bayfield Chair

Ocean Youth Trust South Registered Charity Number 1079959 Register Company Number 3898084

38

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

STATEMENT OF CASH FLOWS

Note
Net cash flow from operating activities (see below)
Cash flow from operating activities
Purchase of intangible fixed assets
Purchase of investments
Investment income
Net cash flow from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 November 2021
Cash and cash equivalents at 31 October 2022
Cash and cash equivalents consist of:
Cash at bank and in hand
Cash and cash equivalents at 31 October 2022
Reconciliation of net income to net cash flow from
operating activities
Net income for the period
Adjusted for
Investment income
(Gains)/losses on investments
Depreciation and impairment of tangible fixed assets
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Analysis of changes in net debt
Total net debt brought forward
Cash flows
Total net debt carried forward		 2022
2021

£
£
£
£
30,034
72,479
(10,516)
(4,027)
(583,573)
3,821
408
(590,268)
(3,619)
(560,234)
68,860
783,599
714,739
223,365
783,599
223,365
783,599
223,365
783,599
2022
2021
£
£
£
£
41,720
47,280
(3,821)
(408)
10,523
-
45,261
43,058
(17,053)
(29,911)
(46,596)
12,460
(11,686)
25,199
30,034
72,479
2022
Cash and
cash
equivalents
2022
Cash and
cash
equivalents
£
£
783,599
714,739
(560,234)
68,860
223,365
783,599		 2022
2021

£
£
£
£
30,034
72,479
(10,516)
(4,027)
(583,573)
3,821
408
(590,268)
(3,619)
(560,234)
68,860
783,599
714,739
223,365
783,599
223,365
783,599
223,365
783,599
2022
2021
£
£
£
£
41,720
47,280
(3,821)
(408)
10,523
-
45,261
43,058
(17,053)
(29,911)
(46,596)
12,460
(11,686)
25,199
30,034
72,479
2022
Cash and
cash
equivalents
2022
Cash and
cash
equivalents
£
£
783,599
714,739
(560,234)
68,860
223,365
783,599
72,479
2022
Cash and
cash
equivalents
£
714,739
68,860
783,599

39

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

Ocean Youth Trust South is an incorporated charity, limited by guarantee, incorporated in England with the company number 3898084. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information page of these financial statements. The nature of the charity’s operations and principal activities are outlined in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the Charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

The charity received government grants in respect of the Coronavirus Job Retention Scheme. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Investment income is earned through holding assets for investment purposes such as shares and cash deposits. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the Charity’s right to receive payment is established.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

● costs of raising funds; includes the costs of attracting funding and includes staff costs

● expenditure on charitable activities; includes costs incurred to deliver activities and services to beneficiaries directly and indirectly

Support cost allocation

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. Support costs are incurred and attributed to expenditure on charitable activities on a basis this is consistent with use of the resources. The analysis of these costs is included in Note 6.

40

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

ACCOUNTING POLICIES

Employee benefits

When employees have rendered service to the Charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Pension costs

The charity operates a defined contribution pension scheme. Contributions to the scheme are charged to the statement of financial activities on a payable basis

Taxation

The charity is considered to pass the tests set out in sections 466 to 493 Corporation Tax Act 2010 (CTA 2010), as such no income tax is payable on the charity's activities.

Fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and equipment Written down to residual value Office equipment 15-33% straight line Sailing vessels 5-20% straight line

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains/(losses) on investments’ in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In addition it includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.

Operating leases

Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Further details of each fund are disclosed in Notes 18 and 19.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

41

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE FINANCIAL STATEMENTS

1. Donations and legacies

1. Donations and legacies
Unrestricted
Funds
£
Donations and grants
59,351
Coronavirus related grants
-
59,351
2. Income from investments
Unrestricted
Funds
£
Interest receivable
248
Investment income
3,573
3,821
3. Income from charitable activities
Unrestricted
Funds
£
Sailing fees
159,455
159,455
4. Other trading activities
Unrestricted
Funds
£
Other sales
406
406
5. Raising funds costs
Unrestricted
Funds
£
Advertising
348
Staff costs
27,894
28,242		 Restricted
Funds
£
264,275
-
264,275
Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
-		 2022
Total
Funds

£
323,626
-
323,626
2022
Total
Funds

£
248
3,573
3,821
2022
Total
Funds

£
159,455
159,455
2022
Total
Funds

£
406
406
2022
Total
Funds

£
348
27,894
28,242		 Unrestricted
Funds

£
159,135
-
159,135
Unrestricted
Funds

£
408
-
408
Unrestricted
Funds

£
81,433
81,433
Unrestricted
Funds

£
74
74
Unrestricted
Funds

£
217
23,293
23,510		 Restricted
Funds
£
116,929
38,996
155,925
Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
3,519
3,519		 2021
Total
Funds
£
276,064
38,996
315,060
2021
Total
Funds
£
408
-
408
2021
Total
Funds
£
81,433
81,433
2021
Total
Funds
£
74
74
2021
Total
Funds
£
217
26,812
27,029

42

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE FINANCIAL STATEMENTS

6. Charitable activities

Staff costs
Depreciation of fixed assets
Freelance sailing fees
Vessel maintenance
Training
Victuals
Fuel, harbour fees and charts
Licences and insurances
Support costs (see note 7)
Governance costs (see note 8)
Unrestricted funds
Restricted funds		 2022
Total funds
£
95,548
45,261
13,766
75,320
2,640
19,371
22,030
20,187
109,860
3,840
406,823
172,700
234,123
406,823		 2021
Total funds
£
95,352
43,058
7,958
32,116
2,365
9,334
11,706
15,345
101,223
4,209
322,666
133,536
189,130
322,666

7. Support costs

Staff costs
Operating lease charges
Finance costs
Administration costs
Bad debt
Governance costs
Independent examiner’s fees		 Unrestricted
Funds

£
84,669
7,383
1,513
16,295
-		 Restricted
Funds
£
-
-
-
-
-
-
Restricted
Funds
£
-
-		 2022
Total
Funds


£

84,669

7,383

1,513

16,295

-
109,860
2022
Total
Funds


£

3,840

3,840		 Unrestricted
Funds

£
81,342
5,241
1,077
11,924
1,639
101,223
Unrestricted
Funds

£
4,209
4,209		 Restricted
Funds
£
-
-
-
-
-
-
Restricted
Funds
£
-
-		 2021
Total
Funds
£
81,342
5,241
1,077
11,924
1,639
109,860 101,233
Unrestricted
Funds

£
3,840		 2021
Total
Funds
£
4,209
3,840 4,209

8. Governance costs

9. Independent examiner’s fees

Examination – current year
Tax services – Prior year
Accounting services		 Unrestricted
Funds

£
2,950
675
215		 Restricted
Funds
2022
Total
Funds
£
£
-
2,950
-
675
-
215

43

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE FINANCIAL STATEMENTS

10. Wages and salary cost

Gross wages
Employer's national insurance costs (inclusive of
employer national insurance allowance)
Employer’s pension contributions		 2022
Total Funds
£
190,741
12,200
4,169
207,110		 2021
Total Funds
£
187,295
12,038
4,173
203,506

There were no employees with emoluments (excluding employer pension costs) above £60,000 in this or the preceding year.

The average number of employees during the year was:

erage number of employees during the year was:
Shore based
Sailing		 2022
5
3
8		 2021
5
3
8

The five shore-based employees are a mixture of full and part time staff representing four full time equivalent staff positions.

11. Pension scheme

The charity operates defined contribution pension scheme for its employees. The total payable for the year under review was £4,169 (2021: £4,173).

12. Related party transactions

None of the trustees received any remuneration nor reimbursed benefits during the current and comparative years under review.

The charity's two (2021: two) key management personnel, being the CEO and Business Manager, received employee benefits totalling £84,748 (2021: £79,464).

13. Tangible fixed assets

Cost
At 1 November 2021
Additions
Disposals
As at 31 October 2022
Depreciation
Accumulated at 1 November 2021
Charge for the year
On disposals
At 31 October 2022
Net book value at 31 October 2022
Net book value at 31 October 2021		 Plant &
equipment
£
24,697
6,616
-
31,313
24,197
1,537
-
25,734
5,579
500		 Office
equipment
£
20,327
3,900
-
24,227
16,588
1,323
-
17,911
6,316
3,739		 Sailing
vessels

£

726,611

-

-

726,611

191,722

42,401

-

234,123
492,488

534,889		 Total
£
771,635
10,516
-
782,151
232,507
45,261
-
277,768
504,383
539,128

44

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE FINANCIAL STATEMENTS

14. Fixed assets investments – Managed funds

Reconciliation of movement on investments
Carrying (market) value brought forward
Additions at cost
Disposals at carrying value
Gain/(Loss) on revaluation
Carrying (market) value carried forward
Gains/(losses) on investments
Unrealised (from above)
Realised on disposal of fixed asset investments		 2022
Total Funds
£
-
583,573
-
(10,523)
573,050
(10,523)
-
(10,523)		 2021
Total Funds
£
-
-
-
-
-
-
-
-

15. Debtors

Trade debtors
Prepayments
Accrued income
Other debtors		 2022
Total Funds
£
65,460
1,228
1,260
5,932
73,880		 2021
Total Funds
£
40,954
9,648
-
6,225
56,827

16. Creditors: amounts falling due within one year

Trade creditors
Accruals
Deferred income
Other taxation and social security
Other creditors		 2022
Total Funds
£
2,194
2,950
82,489
19,194
6,383
113,210		 2021
Total Funds
£
24,513
4,400
108,012
19,115
3,766
159,806

Deferred income relates to invoices raised for voyages booked in 2023 and for Grants & Donations towards sailing activities in 2023.

17. Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities		 Unrestricted
Funds

£
90,892
573,050
211,925
(113,210)
762,657		 Restricted
Funds
£
413,491
-
85,320
-
498,811		 2022
Total
Funds

£
504,383
573,050
297,245
(113,210)
1,261,468		 Unrestricted
Funds

£
88,781
-
822,114
(159,806)
751,089		 Restricted
Funds
£
450,347
-
18,312
-
468,659		 2021
Total
Funds
£
539,128
-
840,426
(159,806)
1,219,748

45

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE FINANCIAL STATEMENTS

18. Analysis of net movement in funds

Restricted funds
Prolific_fund
Gipsy Moth Trust fund
Isle of Wight Sailing Fees
Refit and Maintenance
Sailing fees fund
Salary fund
_Total restricted funds
Unrestricted funds
Designated funds
Boat contingency
Boat refit
General Fund
Unrestricted funds
Total unrestricted funds
Total funds
Restricted funds
Prolific_fund
Sailing fees fund
Refit and Maintenance
Salary fund
COVID-19 related grants
_Total restricted funds
Unrestricted funds
Designated funds
Boat contingency
Boat refit
General Fund
Unrestricted funds
Total unrestricted funds
Total funds		 Year ended 31 October 2022 Year ended 31 October 2022 Year ended 31 October 2022 Year ended 31 October 2022
Total funds
brought
forward
£
468,659
-
-
-
-
-
468,659
30,000
477,349
507,349
243,740
243,740
751,089
1,219,748		 Total
incoming
resources
Total
resources
expended
Transfers
between
funds
Gains and
(losses) on
investments

£
£
£
£

- (36,877)
-
-

30,000
(3,950)
-
-

9,014
(1,800)
-
-

61,022 (61,022)
-
-
136,239 (109,929)
-
-

28,000 (20,545)
-
-
264,275 (234,123)
-
-

-
-
-
-

-
-
-
-

-
-
-
-
223,033 (200,942)
-
(10,523)
223,033 (200,942)
-
(10,523)
223,033 (200,942)
-
(10,523)
487,308 (435,065)
-
(10,523)
Year ended 31 October 2021		 Total
funds
carried
forward
£
431,782
26,050
7,214
-
26,310
7,455
498,811
30,000
477,349
507,349
255,308
255,308
762,657
1,261,468
Total funds
brought
forward
£
484,098
-
-
-
-
484,098
30,000
428,349
458,349
230,021
230,021
688,370
1,172,468		 Total
incoming
resources

£

-

64,259

22,100

30,570

38,996
155,925

-

-

-
241,050
241,050
241,050
396,975		 Total
resources
expended

£
(41,724)
(60,759)
(20,600)
(30,570)
(38,996)
(192,649)

-

-

-
(157,046)
(157,046)
(157,046)
(349,695)		 Transfers
between
funds
£
26,285
(3,500)
(1,500)
-
-
21,285
-
49,000
49,000
(70,285)
(70,285)
(21,285)
-		 Gains and
(losses) on
investments
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
carried
forward
£
468,659
-
-
-
-
468,659
30,000
477,349
507,349
243,740
243,740
751,089
1,219,748

46

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE FINANCIAL STATEMENTS

19. Description of funds

Prolific fund Funds received to enable the charity to have purchased Prolific as a replacement for John Laing . This includes the additional work required to continue to enhance Prolific's operating capacity. Gipsy Moth Fund represents a donation to OYT South upon the winding up of the Gipsy Moth Trust. It is Trust fund to provide bursaries for young people who have done particularly well on a voyage and are being invited to return with a view to qualifying as sea staff. The fund is to last for several years. Isle of Wight Fund represents a donation to OYT South upon the winding up of Isle of Wight Support Sailing Fees Group. It is to provide support for young residents of the Isle of Wight. It is an ongoing fund that will receive donations from former members of the support group and others on an adhoc basis.

Refit and Funds received to maintain Prolific in a seaworthy state. Maintenance Salary fund Funds received to pay for employment costs. Sailing fees fund Funds received to pay for sailing fees associated with future voyages.

COVID-19 Funds received from the UK Government under the Coronavirus Job Retention Scheme. related grants Boat Fund established to cover unplanned maintenance and repair costs during next year's contingency sailing Boat refit Fund established to cover major maintenance and refurbishment work which will need to be carried out at regular intervals. These works include replacing the following; main mast, engines, winches, windlass, fire systems, sails, standing rigging and electrics.

20. Financial instruments

The carrying amounts of the charity’s financial instruments are as follows:

inancial instruments
rrying amounts of the charity’s financial instruments are as follows:
Financial assets
Measured at fair value through net income / (expenditure)
Fixed asset investments		 2022
Total Funds
£
573,050
573,050		 2021
Total Funds
£
-
-

The income, expense, net gains and net losses attributable to the charity’s financial instruments are summarised as follows:

Income and expense
Financial assets measured at fair value through net income / (expenditure)
Investment income
Net gains and losses (including changes in fair value)
Financial assets measured at fair value through net income / (expenditure)
Unrealised gains / (losses) on investments
Realised gains / (losses) on investments		 2022
Total Funds
£
3,573
3,573
(10,523)
-
(10,523)		 2021
Total Funds
£
-
-
-
-
-

Fixed asset investments are held at fair value with valuations obtained using closing mid-market price.

47

OCEAN YOUTH TRUST SOUTH

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

NOTES TO THE FINANCIAL STATEMENTS

21. Comparative statement of financial activities

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Investments
2
Charitable activities
3
Other
4
Total
EXPENDITURE ON:
Raising funds
5
Charitable activities
6
Total
Net gains / (losses) on investment assets
14
Net income / (expenditure)
Transfers between funds
18
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
18
Total funds carried forward
18		 Unrestricted
Funds
£
159,135
408
81,433
74
241,050
23,510
133,536
157,046
-
84,004
(21,285)
62,719
688,370
751,089		 Restricted
Funds
£

155,925

-

-

-

155,925

3,519

189,130

192,649

-

(36,724)

21,285

(15,439)

484,098

468,659		 2021 Total
Funds

£

315,060

408

81,433
74

396,975

27,029
322,666

349,695

-

47,280

-

47,280

1,172,468

1,219,748

48

8 North Meadow, Weevil Lane, Gosport, Hampshire, PO12 1BP Tel: 02392 602278 Website: www.oytsouth.org Email: office@oytsouth.org Facebook: oytsouth Twitter: oytsouth Instagram: oyt_south TikTok: oceanyouthtrustsouth LinkedIn: Ocean Youth Trust South YouTube: oceanyouthtrustsouth1310

A Company limited by Guarantee No.3898084 Registered Charity No.1079959