Charity Registration number 1091086 THE CHESIL SAILING TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CST P.J.Kent FCPFA Honorary Treasurer
THE CHESIL SAILING TRUST CONTENTS Reference and Administralive Details 2to3 Trustees. Annual Report.. 4t06 Independent Examiner's Report..................... Statement of Financial Activity... Balance Sheet as at 31 March 2025. Notes to the Financial Statements. 10t015
THE CHESIL SAILING TRUST REFERENCE AND ADMINISTRATIVE DETAILS Charity Name i The Chesil Sailing Trust. (Changed from 'The Chesil Trust, on 4 November 2014) Charity Registration Number 1091086 Period of Financial Year 11 April 2024 - 31 March 2025 Principal Address Osprey Quay I Portland Dorset 5 DT5 1SA Governing Document Deed ot Trust dated 8 June 2001 Objects of the Charity To promote the advancement of education of persons who i are young or disabled by providing or assisting with the | provision of facilities for training in sailing and seamanship i and other water and land based activities. l The Trust aims to provide and assisl in the provision of facilities in the interests of social welfare for recreation and leisure time occupation for the benefit of th6 inhabitants of the United Kingdom with the object of improving conditions of life I for the said inhabitants. The Trust also strives to promote any other charitable I purposes for the benefit of the inhabitants of the United i Kingdom as is constituted for administrative purposes at the | date as the Deed of the Trustees shall from time to time in their discretion determine. Trustees i Frances Guppy, Chairman John F Tweed Paul J Kent, Treasurer to the Trust Lucy-Anne Clarke (Appointed 9 May 2024) Trislan Best j Steven Moatt
THE CHESIL SAILING TRUST REFERENCE AND ADMINISTRATIVE DETAILS Secretary Tom Grainger. Clerk to the Trustees ' Bankers National Westminster Bank PIC 49 South Street Dorchester Dorset IDT1 1DW i Nationwide Building Society ,POBox3 5-11 George Street Douglas Isle of Man IM99 1A
THE CHESIL SAILING TRUST TRUSTEES'ANNUAL REPORT ActivltSes and Achievements The year 2024-2025 has seen a core programme of events along wilh our enhanced programmes to meet specific needs. We have continued with our Rod Shipley Sail for a Fiver and Rod Shipley Windsurf for a Fiver for the year 2024-25, and it will remain in this format for the 2025-26 season whilsl we undergo a review and plan a forward strategy in-relation to funding and bid applications. This is due to a long- term sponsor indicating they will no longer be able to provide funding. Alongside our two major funding expenditures, we also support the delivery of week-long voyages on boats from the Rona Sailing Project. We have facilitated four voyages, two voyages for a special school and two for local secondary schools. The Boleh a forty-foot junk yacht was based in Portland for 3 weeks giving approximately one hundred young people from local secondary schools the opportunity of a day sail. Beside these opportunities open to all schools, we have continued to develop our targeted programmes, following a review ol our Sail Fit and "bursary" programmes. This is to ensure we can have maximum impact on the lives of young people from our limiled resources. We have been very aware of societal issues especially in relation to the mental health and well- being of young people. This has often been made more difficult by the current financial hardship many families are experiencing. This is prevalent in the immediate areas surrounding the Nalional Sailing Academy with several of the wards within the borough of Weymouth and Portland being in the top 10°/0 of the National Social Deprivation Index. By securing funding bids we have been able, with the delivery partners, to have developed and funded targeted programmes. Chesil Sailing Trust Wellbeing Programme supporting local primary schools. We have funded a 12- week programme offering 6 weeks Windsurfing and 6 weeks sailing. It is a pleasure to support these pupils who are all experiencing significanl challenges and have already experienced several ACES (adverse childhood experiences) in their young lives. We have also completed a specific project for pupils from the Royal Manor of Portland funded directly by the Court Leet. By securing funding from the Dorset Youth Fund, through a joint bid with our delivery partners, a project has been undertaken with a local pupil referral unil. Students began their water-sports journey with Ihe Off icial Test Centre Ltd (OTC) and the Andrew Simpson Foundation (ASF). There is a real focus for this group around resilience, confidence, and determination. The students who are attending the sessions have significant SEMH difficulties and are heavily supported by both Ihe teams delivering the programme and the excellent team of staff from the referral unit. The Head Teacher has recently highlighted that it is so wonderful to see the children returning to school with huge smiles following their sessions at the National Sailing Academy. The Board of Tfustees remains commltted lo providing opportunities to the most vulnerable in the locality and are aclively reviewing all opportunities to enable us to have suff icient working funds to book and plan for subsequent years. This will be outlined in the end ol season review and by developing our strategic plan whlch will be operational for the 2026 Season.
THE CHESIL SAILING TRUST TRUSTEES ANNUAL REPORT {Cont'd> Publlc Benefit The Trustees confirm that they have complled wilh the requirements of section 17 of the Charities Act 201110 have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Financial Review During the year, total income amounted to £36,384 (2023-24 £45,094). Of this, £35,345 (2023-24 £44,180) was in the form of donations from individuals, charities and other organisations. Bank interest during the year amounted to £1,039 (2023-24 £914). Expenditure during the year amounted to £35.210 (2023-24 £29,424). including governance costs amounting to £350 (2023-24 £324). Funds carried forward amounted to £92,358 (2023-24 £91,184) of which £3,620 is in respect of restricted funds12023-24 £12.070), The Balance Sheet as at 31 March 2025 shows cash at bank amounting to £90,208, including deposits in the Nationwide Building Society amounting to £49,286 and a current account balance ai the Nalwest bank amounting to £40,922. Debtors, being HMRC in respect of Gift Aid, amounted to £2,500. Creditors, being provision for the Independent Examination fees. totalled £350. Reserves Pollcy In each financial year, the Trustees determine a minimum level at which cash reserves should be maintained. For 2023-24 this figure stood at £10,000. The figure may be amended at any time by specific resolution. Structure, governance and management The governing document of the charity is a deed of Trust dated 8 June 2001. Recruitment and appointment ol trustees is made by resolution of the trustees at a meeting of the trustees. The selection of a trustee is based on the skill set of the person and their perceived contribulion to the Trust's objectives and management. The trustees are to number between 3 and 7 persons for a term no longer than 3 years. Trustees may be reappointed but may not serve for longer than 12 consecutive years. Statement of Trustees, Responslbillties The trustees are responsible for preparing the truslees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Practice) and applicable law and regulations. The law applicable to charities requires Ihe trustees to prepare financial slatements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust tor that period. In preparing these financial statements, the trustees are required to= select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2015 IFRS 102); make judgments and eslimates that are reasonable and prudent., state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departure disclosed and explained in the financial statements; and prepare the financial slatements on a going concem basis unless it is inappropriate to presume that the Trust will continue in operation.
THE CHESIL SAILING TFIUST The trustees are responslble for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wilh the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the trust deed. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 22 May 2025 and signed on iheir behalf by: "h'(KA4usCue5 Frances Guppy Chair of the Trust
THE CHESIL SAILING TRUST INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE CHESIL SAILING TRUST I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025, which are sel out on pages 8 to 15. Responslbilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have lollowed all the applicable Directlons given by the Charity Commission under seclion 145{5)(b) of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respecl: accounting records were not kept in respect of the charity as required by section 130 of the Act", or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulallons 2008 other than any requirernenl that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Signed: Dale.. 2Y I,. Name: ) (fv/(W r&crq Relevant Professional Qualifications or Body,, Address..
THE CHESIL SAILING TRUST STATEMENT OF FINANCIALACTIVITY FOR THE YEAR ENDED 31 MARCH 2025 Unrestricled Funds Reslricted Funds Total Funds 2024-25 Total Funds 2023-24 Note Income and Endowments from: Donations and Legacies {Including Gift Aid) 22,845 12,500 35,345 ' 44,180 Investments 1,039 1,039 914 Total Income 23,884 12,500 36,384 45,094 Expendlture on: Charitable Actlvities 13,910 1 20,950 34,860 , 29,100 Governance costs 350 350 324 Total Expendlture 14,260 20,950 35,210 29,424 Net IncomellExpendilure) before transfers 9,624 (8.4501 1,174 15,670 Transfers Gross Iranslers between funds Net Movement In Funds 9,624 18,450) 1,174 15,670 Reconclllatlon of Funds Total Funds brought forward 79,114 12,070 91,184 75.514 Total Funds carrled forward 10 88,738 3,620 92,358 91,184 All income and expenditure derive from continuing activities. The charity has no recognised gains or losses for the year other than the results shown above.
THE CHESIL SAILING TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Current Assets Debtors 2,500 5,513 Cash al Bankjln Hand 90,208 92.708 87,945 93,458 Current Llabllltleg Creditors 350 350 2.274 2,274 Net Assets 92,358 91,184 Fund8 of the Charlty (adjusted tor deblors and ¢redltor8> R8Stricted Funds 10 3,620 12,070 Unreslricled Funds 10 88,738 79,114 Total Charlty Fund8 92.358 91,184 Approved by the Trustees on 22 May 2025 and signed on behalf of the Trust by.. Frances Guppy Chair of the Trust
THE CHESIL SAILING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. Accounling pollcies Basls of Preparatlon 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 Slandard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20151 {Charilies SOFIP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The Trust is an unincorporated association established under trust deed in 1981 and is registered as a charity in England and Wales. The Trust meels the definilion ol a public b8ngtit 8ntity under FRS 102. Assets and liabllities ar6 initially recognised al historical cost or transaction value unless otherwise stated in the relevant accounting policy noles. The accounts are presenled in £ sterling. Golng ¢on¢ern The Irustee5 consider that there are no material uncertainties about the charity's ability to continue as a going concern. Exemption from preparlng a cash flow statement The ¢hariiy opied to early adopi Bullelin i published on 2 February 2016 and have therefore not included a cash flow statement in these flnan¢ial statemenls. Fund Accountlng Pollcy Unreslricled income funds are general funds that are available for use al the trustees, discretion in furtherance of the objeciives of the charity. Restricted funds are those donated lor use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Further details of each fund are disclosed at note 10. Grant-maklng Pollcy The Trust's Equal Opportunities Policy makes clear thal in allocating grants the Trustees will not discriminate eilher lor or against any person or activity. Grant applications are considered by the Trustees at Iheir next ordinary meeting and determined in accordanGe with the objects of the Charity and the resources available. There is an urg8ncy procedure lor dealing wilh applicalions requiring action between meetings. 11 is the policy of the Trustees not lo commit to any individual granl lor a period of more than twelve months. Trust beneficiaries may however apply lor a renewal of support on Ihe expiry of a currenl grant,. any such application will be considered on ils merits alongside olher 10
THE CHESIL SAILING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONT'D applications, but the Trustees may take into account Ihe fact thal the applicant has previously received support. Investments Selection Pollcy Th8 Trustees consider that currently there are inadequate funds lor any type of long term investment. Accordingly. all balances are invested in cash wilh the majority In the Nationwide Building Society which pays a competitlve interest rate with minimum risk and good access lo funds when required. Income and Endowments Voluntary income including donations. legacles and grants that provide core funding or are of a general nature, is recognised where there is entitl8menl, certainty of receipt and the amount can be measured with sufficient reliability. Investment income is recognised in the financial year in which it is received. Debtors are amounts due relating to gift aid receivable from HMRC andlor payments made in advance e.g. deposits for lulure programmes. Expendllure Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on a payments basis and has been classified under headings that aggregate all costs related lo this category. Charitable Activilies comprises those costs incurred by the charity in the delivery of ils activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those Gosts ol an indirect nature necessary lo support them. Governance costs include the costs of preparation and examination of the statutory accounts, the costs of trustee meetings and the costs of any legal advice to trustees on governance or constitutional matters. Taxation As a registered charity, the Trust is generally exempt Irom income tax and capital gains tax, bul not from value added lax IVATI. Irrecoverable VAT is included in the cost of any items to which it relates. 11
THE CHESIL SAILING TRUST NOTES TO THE FINANCIAL STATEMENTS FOA THE YEAR ENDED 31 MARCH 2025 CONT'D 2. Donatlons and Legacles Unrestrlcted Funds Restrlcted Funds Total Funds 2024-25 Total Funds 2023-24 Donatlons and Legacles Companies, clubs and individuals | (including Gift Aid) Grants Aecelvable 12.500 12.500 29,180 Trusts and Foundations 22,845 22.845 15,000, UK Government Grants Total Voluntary Income 22,845 12,500 35,345 44,180 3. Investment Income Unrestricted Funds Restricted Funds Total Funds 2024-25 Total Funds 2023-24 Account National Westminster Bank Nationwide Building Society (See below) 1,039 1.039 914 Total Interest Earned on Cash Deposlts 1,039 1.039 914 At 31 March 2025 the Trust had £49,285.61 invested in a Business Instant Saver Issue 9 account earning interest al 2.10 per annum. Interest is paid annually on 31 March and in 2024-25 this amounted lo £1,038.89
THE CHESIL SAILING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONT'D 4. Expenditure Unrestrlcted Restrlcted Total Funds Total Funds Funds Funds 2024-25 2023-24 (a) Charltable Actlvllles: Sall for a Flver Course costs 13,000 13,000 13,000 Sail Fil Stage 1 and 2 courses (Scholarshlps) Course costs Chesll Salllng Trusl Wellbelng Group Course costs 6.250 6.250 6,250 From Small to Tall Sail Trainlng - Rona Salling Prolect 4,660 4,660 1,900 The Boleh Trust Boleh Day Sailings 1,950 1,950 1,950 Wlndsurfing Windsurt for a Fiver 6,000 6,000 6,000 Dorset Youth Fund Grants 3,000 3,000 13,910 20.950 34,860 29,100 (b) Governance costs Website hosting Bank charges Printing,postage,stationery Accounting 350 350 324 Total Expendlture 14,260 20,950 35,210 29,424 13
THE CHESIL SAILING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAFI ENDED 31 MARCH 2025 CONT'D 5. Trustees, Remuneration and Expenses No trustees received any remuneration or were reimbursed any expenses during the year. 6. Debtors 2024-25 2023-24 HMRC - Gift Aid claim 2,500 5,513 Prèpayments Total Debtors 2,500 5,513 7. Cash at Bank Bank Reconciliation as at 31 March 2025: National Westminster Account Balance 40,922 Less unpresented cheques Balance per Cash Book 40,922 Nationwide Buildlng Society Balance 49,286 Total Cash at Bank as at 31 March 2025 90,208 8. Creditors 202&k25 2023-24 Independent Examiner Fees 350 324 The Boleh Trust 1,950 Total Credltors 350 2,274 14
THE CHESIL SAILING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONT'D 9. Related Parties Controlllng Entlty The Charity is controlled by the Trustees. Amounts paid to OTC to cover their reasonable fees in relation to d8liv8ring services to the Charity during the year were £9,750 (2023-24 £6,000), as permitted by the Deed of Trust dated 8 June 2001. It is recognised by the Charity that those involved in local water sports organisations and buslnesses provide valuable contributions as Iruslees to the Board ol the The Chesil Sailing Trust. Those local water sports buslnesses and organisations are often best placed to assist in delivering the charitable activities. All decisions lo involve a business or organisalion in delivering the charitable actlvilies are made by the Board and would exclude any Trustee who may have a personal interest or relalionship with that business or organisation, to ensure that besl value for money and most etfective provision of services is achieved. This policy is reflected in the Trust's revised Conflict ol Interests Policy. 10. Analysls of Funds At 1 Aprll 2024 Income ExpendltUTe Tran8fers At 31 March 2025 General Funds Unreslrlcted fund 79,114 23,884 {14.2601 88,738 Re8tfl¢ted Fund8 Rod Shipl8y fund 12,070 12,500 120,950) 3,620 Total Restrlcted Fund8 12.070 12.500 120.950) 3,620 Total Funds 91,184 36,384 (35,210) 92,358 Purposes ol Re8trlcted Funds The 'Rod Shipley Fund. represented the unspent balance from a legacy donation by the widow ol Rod Shipley. The funds were used in memory of her late husband lo assist local young people gain access to water sports. A further donation of £10.000 was received from Mrs Shipley In 2024 with the expectation that a furth8r £2,500 can be claimed in Gift Aid. The whole of the donation of £12,500 was applied to the 2024 programme ol activity, The anlicipated Gift Aid has been included as a debtor in 2024-25. 11. Employees There wer8 no employees in 2024-2512023-24 nil) and consequently no employee received emoluments ol more than £60,000 during the year. 12. Independent examlners, remuneratlon In 2024-25, provision of £350 has been made in the accounts for the Independent Examiner's fees. July 2025 15