2021-06-30-accounts - Horizons (Plymouth)

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CONTENTS					Page
Reference and administrative		details ofthe charity,	its trustees	and advisers
Trustees' report					2-6
Independent examiner's	report
Statement offinancial	activities

The table below shows details	o	fsome ofthe grants	and donations received	during the year:
Restricted
Elmgrant Trust			Boat Storage		1,500
Scobell Charitable Trust			Boat Storage		2.000
Charles Lewis Foundation			PPE and Pico Sails		1,324
Volant Trust			Safety Equipment		1,000
RYA/Sports England			Tackling Inequalities		10,000
Peter Harrison Foundation			Schools Programme		8,000
RYA Sailactivity Investment		Programme	Volunteer training		400
Babcock International			After Schools Club		2,000
Kingsgrove Charitable Trust			After Schools Club		200
Kelsey Trust			Safety Equipment		1,500
					25,926
Unrestricted
Beckly Trust			General Running	Costs	1,500
Pentland Stalls Charitable	Trust		General Running	Costs	1,500
Clemas Trust			General Running	Costs	500
Alliance Family Foundation			General Running	Costs	250
					3,750
Investment Policy and Performance

			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2021	2021	2021	2020
		Note
Income and endowments	from:
Donations and legacies			26,275	61,748	88,023	76,704
Charitable activities			3,648		3,648	10,339
Other trading activities			1,676		1,676	19,133
Investments			2,743		2,743	2,779
Other income			27,588		27,588	15,304
Total income			61,930	61,748	123,678	124,259
Expenditure on:
Raising funds		4,7	9,057		9,057	8,766
Charitable activities			82,103	43,090	125,193	128,810
Total expenditure		10	91,160	43,090	134,250	137,576
Net income/(expenditure)	before
investment revaluation			(29,230)	18,658	(10,572)	(13,317)
Net gain/(loss) on investments		15	23,602		23,602	~7,274)
Net income/(expenditure)			(5,628)	18,658	13,030	(20,591)
Transfer between funds			10,943	(10,943)
Net movement in funds		18	5,315	7,715	13,030	(20,591)
Reconciliation offunds:
Total funds brought forward		18	204,882	10,095	214,977	235,568
Total funds carried forward			210,197	17,810	228,007	214,977

					2021	2020
Unrestricted		income
Donations
Individual	donation				15,000	15,000
HMRC Gift Aid					6,050	17,298
Other					5,225	10,456
					26,275	42,754
Plymouth	City Council Covid Support					10,000
The PA Nicholas			Charitable	Trust		5,000
Other						2,000
						17,000

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3.	Charitable	Activities
			Unrestricted	Total	Unrestricted	Total
			2021	2021	2020	2020
	Sailing activities		3,648	3,648	10,339	10,339
			3,648	3,648	10,339	10,339
4.	Other Trading Activities
	Fundraising	events	1,676	1,676	19,133	19,133
			1,676	1,676	19,133	19,133
5.	Investment	income
	Fundraising	events	2,743	2,743	2,779	2,779
			2,743	2,743	2,779	2,779
6,	Other income
	Covid-19 Furlough		27,338	27,338	15,304	15,304
	Sale ofassets		250	250
			27,588	27,588	15,304	15,304
7.	Raising Funds
	Salaries		7,190	7,190	7,190	7,190
	Investment	portfolio	1,037	1,037	1,025	1,025
	Expenses		830	830	551	551
			9,057	9,057	8,766	8,766

Analysis ofE	xp	enditure on Char	itable Activities
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			2021	2021	2021	2020	2020	2020
Boat operations		and maintenance	11,927	1,394	13,321	11,563	74	11,637
Mooring fees			1,127		1,127	3,259	3,500	6,759
Boat storage			2,182	1,701	3,883	3,270		3,270
Volunteer expenses			246		246	1,654	200	1,854
Subscriptions	and publications		1,852		1,852	1,550		1,550
Licences and	permits		170		170
Rent, rates and utilities						53		53
Safety equipment		and clothing	1,797	3,754	5,551	2,810	1,798	4,608
Salaries			28,622	36,241	64,863	59,724	4,800	64,524
Minibus running		costs	2,063		2,063	1,657	648	2,305
Depreciation			14,478		14,478	13,147		13,147
Support costs			10,459		10,459	11,585		11,585
Administration			4,020		4,020	4,857		4,857
Governance			3,160		3,160	2,661		2,661
			82,103	43,090	125,193	117,790	11,020	128,810
Raising funds			9,057		9,057	8,766		8,766
			91,160	43,090	134,250	126,556	11,020	137,576

		Support				Support
		costs	Admin-	Gover-		costs	Admin-	Gover-
		Sailing	istration	nance	Total	Sailing	istration	nance	Total
		Activities				Activities
		2021	2021	2021	2021	2020	2020	2020	2020
Insurance		3,750			3,750	3,999			3,999
Travel		10			10	179			179
Rent, rates and utilities		6,513			6,513	7,108	1,254		8,362
Bank charges		186			186	299			299
Admin			4,020		4,020		2,238		2,238
Independent	examiner			1,800	1,800			1,800	1,800
Professional								861	861
Salaries				1,360	1,360		1,365		1,365
		10,459	4,020	3,160	17,639	11,585	4,857	2,661	19,103

			Staff Costs	Depreciation	Other costs	Total	Total
			2021	2021	2021	2021	2020
Expenditure	on raising voluntary	income	7,190		1,867	9,057	8,766
Charitable	activities
Sailing activities			64,863	14,478	38,672	118,013	121,292
Management			1,360		4,020	5,380	4,857
			66,223	14,478	42,692	123,393	126,149
Expenditure	on Governance				1,800	1,800	2,661
Tota I2021			73,413	14,478	46,359	134,250
Total 2020			73,079	13,147	51,350	137,576

	2021	2020
This is stated after charging:
Depreciation oftangible fixed assets:
- owned by the charity	14,478	18,502
Profit on disposal		2,119
	14,478	16,383

					2021	2020
Key management personnel	staff costs were as follows:
Wages and salaries					68,707	67,615
Social security costs					1,867	2,700
Other pension costs					2,839	2,764
					73,413	73,079
The average number ofpersons employed		by the Charity	during	the year was as follows:
					2021	2020
					No.	No.

	Short-term
	Leasehold		Motor
	Property	Boats	Vehicles	Equipment	Total
Cost
At 1 July 2020	30,828	293,470	21,759	31,518	377,575
Additions	13,440			1,574	15,014
Disposals
At 30June 2021	44,268	293,470	21,759	33,092	392,589
Depreciation
At 1 July 2020	13,388	278,819	4,440	31,125	327,772
Charge for the year	1,641	8,135	4,440	262	14,478
Disposals
At 30June 2021	15,029	286,954	8,880	31,387	342,250
Net BookValue
At 30June 2021	29,239	6,516	12,879	1,705	50,339
At 30June 2020	17,440	14,651	17,319	393	49,803

	Listed
	Securities
Market Value
At 1 July 2020	75,166
Additions	17,947
Disposals	(21,177)
Increase in cash held	4,803
Revaluations	23,602
At 30June 2021	100,341

Invest	ments at Market Value comprise:
		2021	2020
Cash		11,345	6,542
Listed	investments	88,996	68,624
		100,341	75,166

	2021	2020
Other taxation and social security	417	915
Other creditors	2,192	55
Accruals	3,727	2,056
Deferred income	4,000	9,943
	10,336	12,969

At 1 July	2020	9,943
Additions		4,000
Amounts	released to income	9,943
At 30June 2021		4,000

						Balance at			Transfers	Transfers		Balance at
						1July 2020	Income	Expenditure	In	Out	Losses	30June 2021
Unrestricted Funds
Designated Funds
Designated long term contingency					fund	40,000						40,000
Designated fixed	asset reserve					46,567			3,772			50,339
Designated building			purchase	reserve		75,166			25,175			100,341
Total Designated	Funds					161,733			28,947			190,680
General Funds
General funds						43,149	61,930	91,160	10,943	28,947	23,602	19,517
Total Unrestricted		Funds				204 882	61 930	91 160	39890	28 947	23 602	210 197
Restricted Funds
Boat purchase and		maintenance		fund		100	5,624	3,659				2,065
Hut purchase						1,000	9,943			10,943
Winter project						3,000	1,500	1,500				3,000
Boat Project						5,597				5,597
Safety boats and salary costs							4,910		5,597			10,507
After school family		project					6,970	6,970
General operating	costs						27,371	27,371
Volunteer training							400	400
Clothing						398	5,030	3,190				2,238
Total Restricted						10,095	61,748	43,090	5,597	16,540	-	17,810
Total ofFunds						214,977	123,678	134,250	45,487	45,487	23,602	228,007

					Balance at			Transfers	Transfers		Balance at
					1July 2019	Income	Expenditure	In	Out	Losses	30June 2020
Unrestricted Funds
Designated Funds
Designated long term contingency				fund	40,000						40,000
Designated fixed	asset reserve				41,785			4,782			46,567
Designated building		purchase	reserve		80,906				5,740		75,166
Total Designated	Funds				162,691			4,782	5,740		161,733
General Funds
General funds					34,009	107,309	126,556	35,661	-	7,274	43,149
Total Unrestricted	Funds				196700	107309	126556	40443	5740	7274	204882
Restricted Funds
Boat purchase and	maintenance		fund		410				310		100
Hut purchase						1,000					1,000
Winter Project								3,000			3,000
Boat Project					3,379	1,700	74	592			5,597
Courses (Grants)					6,532	1,500	1,500	-	6,532
Staff Training (Grant)					2,590				2,590
Education Project					10,000	3,500	3,500	-	10,000
Minibus Project					5,134	5,250	1,873	-	8,511
Mooring						3,500	3,500
Clothing					10,823	500	573	-	10,352		398
Total Restricted					38,868	16,950	11,020	3,592	38,295	-	10,095
Total ofFunds					235,568	124,259	137,576	44,035	44,035	7,274	214,977

Analysis	ofNet Assets Between Funds
		Unrestricted	Restricted	Total
		Funds	Funds	Funds
		2021	2021	2021
Tangible	fixed assets	50,339		50,339
Fixed asset investments		100,341		100,341
Current	assets	69,353	18,310	87,663
Creditors	due within one year	(9,836)	(500)	(10,336)
		210,197	17,810	228,007

Analysis ofNet Ass	Analysis ofNet Ass	ets Between Funds
Prior Year
			Unrestricted	Restricted	Total
			Funds	Funds	Funds
			2020	2020	2020
Taxable	fixed assets		49,803		49,803
Fixed asset investments			75,166		75,166
Current	assets		82,939	20,038	102,977
Creditors	due within	one year	(3,026)	(9,943)	(12,969)
			204,882	10,095	214,977