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2021-11-30-accounts

Page
Chairman's report
Chief Executive's report
Trustees' report 3-9
Independent
auditor's		 report 10-13
Statement offinancial activities 14
Summary income and expenditure account 15
Balance sheet 16
Statement ofcash flows 17
Notes to the financial statements 18-34
Legal and Administrative Information 35

Unrestricted Restdicted Endowment Total Total
funds funds funds 2021 2020
Notes E F K F E
Income from:
Donations
and legacies		 3 1,585,391 181,767 1,767,158 1,082,169
Other trading activities-
fundraising
events		 6,099 6,099 23,486
Investments 23 18,575 18,598 18,377
Total income and endowments 1,591,513 181,767 18,575 1,791,855 1,124,032
~E*
du
Raising funds 6 285,800 1,184 286,984 245,753
Charitable
activities		 7 844,770 167,668 1,012,438 747,837
Other 10 1,980 9,900 11,880 10,811
Total resources expended 1,132,550 177,568 1,184 1,311,302 1,004,401
Net gains/(losses) on investments
12 122,151 86,291 208,442 67,651
Net incoming resources before
transfers 581,114 4,199 103,682 688,995 187,282
Gross transfers
between		 funds 16,931 (16,931)
Net movement
in		 funds 598,045 4,199 86,751 688,995 187,282
Fund balances at 1 December
2020 1,734,304 20,801 622,912 2,378,017 2,190,735
Fund balances at 30 November
2021 2,332,349 25,000 709,663 3,067,012 2,378,017

Atl income funds
2021 2020f
Gross income 1,773,280 1,081,283
Gains on investments 122,151 31,118
Transfer from endowment funds 16,931 16,374
Total income
in		 the reporting period 1,912,362 1,128,775
Total expenditure from income funds 1,310,118 1,003,377
Net income for the year 602,244 125,398

2021 2020
Notes F
Fixed assets
Tangible assets 13 384,702 403,336
Investments 14 709,663 605,412
1,094,365 1,008,748
Current assets
Debtors 16 385,436 98,999
Investments 14 980,742 460,482
Cash at bank and in hand 674,986 957,949
2,041,164 1,517,430
Creditors: amounts falling due within
one year 17 (68,517) (148,161)
Net current assets 1,972,647 1,369,269
Total assets less current liabilities 3,067,012 2,378,017
Capitalfunds
Expendable
endowment		 funds 20 709,663 622,912
Income funds
Restricted
funds		 19 25,000 20,801
Unrestricted funds 2,332,349 1,734,304
3,067,012 2,378,017
The financia tements were approved by the Trustees on ..3..~.'tg. ......
MrJ R Burnie
Trustee

2021 2020
Notes 6 f
Cash flows from operating activities
Cash generated
from operations		 25 147,424 358,560
Investing
activities
Purchase oftangible fixed assets (29,916) (64,970)
Purchase of investments (731,370) (132,000)
Proceeds on disposal of investments 302,553 133,660
Investment
income received		 18,598 18,377
Net cash used in investing activities (440,135) (44,933)
Net cash used in financing activities
Net (decrease)/increase
in		 cash and cash
equivalents (292,711) 313,627
Cash and cash equivalents at beginning ofyear 970,308 656,681
Cash and cash equivalents at end of year 677,597 970,308
Relating to:
Cash at bank and in hand 674,986 957,949
Short term deposits induded in current
asset investments 2,611 12,359

Unrestricted Unrestricted Unrestricted Restncted Endowment Endowment Endowment Total Total
funds funds funds 2021 2020
8 8 8
Individual donations 271,605 271,605 340,035
Individual donations through
fundraising events 81,077 81,077
Corporate donations 101,199 44,000 145,199 29,639
Legacies receivable 11,000 11,000
Charities, trusts and events 1,120,510 137,767 1,258,277 712,495
1,585,391 181,767 1,767,158 1,082,169
Forthe year ended 30 November
2020 959,859 97,310 25,000 1,082,169
Restricted
Retention		 fund grants
included f348 (2020 - 63,151)in
Scheme, and fnil (2020 -f20 000) in respect		 respect ofGovernment
funded
Coronavirus
ofCoronavirus
business
support grants.		 Job
Donations also include gifts in kind off30,241 (2020 - 818,986) in respect of legal services, clothing, life
jacket service and consultancy (2020 in respect oflegal services).
Investments
Unrestricted Endowment Total Unrestricted Endowment Total
funds funds funds funds
2021
8		 2021
f		 2021
F		 2020
8		 2020f 2020
6
Investment income 23 18,575 18,598 515 17,749 18,264
Interest receivable 113 113
23 18,575 18,598 628 17,749 18,377
Other trading activities -fundraising events
Unrestricted
Unrestricted
funds funds
2021 2020
f
Fundraising events 6,099 23,486
Other trading activities - fundraising events 6,099 23,486

Unrestricted Endowment Total Total
funds
f		 funds 2021f 2020f
Fundraisin and
ublici
Fundraising costs to support young people with
cancer 50,426 50,426 41,879
Staff and contractor costs 175,496 175,496 119,377
Support costs 57,421 57,421 82,175
Fundraising and publicity 283,343 283,343 243,431
Investment mana
ement		 2,457 1,184 3,641 2,322
285,800 1,184 286,984 245,753
Forthe year ended 30 November 2020
Fundraising and publicity 243,431 243,431
Investment management 1,298 1,024 2,322
244,729 1,024 245,753
Charitable activities
2021 2020
6 6
Direct costs ofsupporting young people with cancer 397,155 186,555
Staff and contractor costs 435,537 379,223
Support cost recharge 179,746 182,059
1,012,438 747,837
Unrestricted funds 844,770 604,288
Restricted funds 167,668 143,549
1,012,438 747,837

Support ost s
2021 2020 Basis ofallocation
8
Depreciation 16,262 11,824 Resources expended
Insurance 1,050 1,703 Resources expended
Rent and property costs 52,423 32,469 Office space
Administration and stationery 13,476 13,104 Resources expended
Database and communications 30,137 93,294 50:50shared cost
Telephone, IT and computer costs 61,335 40,250 Resources expended
Accounting 11,048 10,684 Resources expended
Advisory services 34,238 42,044 Resources expended
Bank and card charges 4,703 5,247 Resources expended
Other support costs 12,495 13,615 Resources expended
237,167 264,234
Analysed between
Fundraising 57,421 82,175
Charitable activities 179,746 182,059
237,167 264,234

Unrestricted Restricted Total Total
funds funds 2021 2020
Governance costs f F
Trustee liability insurance 1,080 1,080 911
Auditor's remuneration 900 9,900 10,800 9,900
1,980 9,900 11,880 10,811
For the year ended 30 November 2020 10,811 10,811

The average monthly number ofemployees during the year was as below.
2021 2020
Number Number
Full time 17 15
Part time 2 2
Total 19 17
Employment costs 2021 2020
f
Wages and salaries 542,447 451,864
Social security costs 41,707 40,838
Other pension costs 27,212 24,106
611,366 516,808
2021 2020
Number Number

Unrestricted Endowment Total Unrestricted Endowment Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
8 8 f f 8
Gain/(loss) on sale of
investments 122,151 86,291 208,442 31,118 36,533 67,651
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investments
g
Cost or valuation
At 1 December 2020 1,065,894
Additions 731,370
Valuation
changes		 208,442
Movement
in cash		 available for investment (9,681)
Disposals (305,620)
At 30 November 2021 1,690,405
Carrying
amount
At 30November 2021 1,690,405
At 30 November 2020 1,065,894
2021 2020
8 8
Fixed asset investment 709,663 605,412
Current asset investment 980,742 460,482
1,690,405 1,065,894
2021 2020
Charity
Multi Asset		 Fund 51 6% 329%
Scottish American Investment Company 22 9% 246%

14 Fixed asset investments Fixed asset investments Fixed asset investments
2021f 2020
Investments
at fair value comprise:
Global Equities 519,175 452,000
Multi Asset Funds 1,168,619 601,535
Cash available
for investment		 2,611 12,359
1,690,405 1,065,894
15 Financial
instruments		 2021
F		 2020f
Carrying
amount of		 financial assets
Instruments
measured		 at fair value through profit or loss 2,269,025 1,845,071
Carrying
amount of		 financial liabilities
Measured
at amortised		 cost 57,995 58,444
18 Debtors
2021 2020
Amounts
falling due		 within one year: 6
Grants and donations receivable 236,092 45,236
Gift aid debtor 23,364 8,512
Other debtors 87,956 4,813
Prepayments
and accrued income		 38,024 40,438
385,436 98,999
17 Creditors: amounts falling due within one year
Notes 2021 2020f
Other taxation and social security 11,475 11,240
Deferred income 18 10,522 89,717
Trade creditors 15,629 28,569
Other creditors 7,601 5,721
Accruals 23,290 12,914
68,517 148,161

18 Deferred income
Balance at 1 Released to New funds Balance at 30
December income received November
2020 2021
8
Donations towards 2021 summer activities 89,717 (89,717)
Donations towards 2022 summer activities 10,522 10,522
89,717 (89,717) 10,522 10,522
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22 Operating
lease		 Operating
lease		 com mitments
At the reporting end date, the charitable company had outstanding commitments for future minimum lease
payments under non-cancellable operating leases, which fall due as follows:
2021 2020
8 8
Within one year 36,646 30,946
Between two and five years 80,692 103,088
117,338 134,034
23 Capital commitments 2021 2020
8 8
At 30November 2021 the charitable company had capital commitments as
follows:
Contracted for but not provided in the financial statements:
Acquisition of sailing equipment 13,980
Cash generated
from		 operations 2021 2020
6
Surplus for the year 688,995 187,282
Adjustments
for:
Investment
income recognised
in statement		 offinancial activities (18,598) (18,377)
Gain on disposal ofinvestments (208,442) (67,651)
Depreciation
and impairment
oftangible		 fixed assets 48,550 39,835
Movements
in working		 capital:
(Increase)/decrease
in		 debtors (286,437) 295,834
Increase/(decrease)
in		 creditors 2,551 (49,884)
(Decrease) in deferred income (79,195) (28,479)
Cash generated
from		 operations 147,424 358,560

Trustees Ms CAmaladoss
MrJR Burnie
Mr P Cazalet
Ms J Grindley
Ms E L Francis
Dr D Hobin
Dame E MacArthur DBE
Mr M Pluves
Mr M A Stevens
Mr D N Mohyuddin (Appointed 25 February 2021)
Mr R Butcher (Retired 7 October 2021)
Chief Executive Officer Frank Fletcher
Secretary Mr M A Stevens
Charity number (England and Wales) 1096491
Charity number (Scotland) SCO44013
Company number 04597114
Registered office Units 53-57
East Cowes Marina
Off Britannia Way
East Cowes
Isle ofWight
PO32 6DG
Auditor Moore (South) LLP
Priory House
Pilgrims Court
Sydenham
Road
Guildford
Surrey
GU13RX
Bankers Lloyds Bank Pic
30Commercial Road
Totton
Southampton
SO40 3TH
Solicitors Payne Hicks Beach
10 New Square
Lincoln's
Inn
London
WC2A 3QG