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← South Shields Sailing Club

2020-12-31-accounts

South Shields Sailing Club Annual Report 2021

Based on the proceedings of the SSSC AGM held at South Shields Sailing Club at 12.30 hrs on 13[th] November 2021

1. Commodore’s report. The Commodore’s report, delivered by Commodore Jason Riby, was as follows:-

“Welcome to the SSSC 2021 AGM. It is fantastic to hold this in person once again. We all have had to adapt a huge amount over the last 20 months, and I am sure our ways of going about our lives will never be quite the same again, however we continue to promote the club and its objectives of enabling sailing as an activity open to all.

2021 Overview

The committee have continued to meet every month as usual, via video calls, and I thank them for their support throughout the last year. We have achieved significantly increased participation using this meeting method and will continue to include video calls even when we return to face to meetings in the future. I must inform you that two of the longest serving members of the committee have stepped down from an active role this year, both have provided the club with many decades of service and both have been instrumental in seeing the club grow from a wooden hut to what we have today. I am sure you will join me in showing your gratitude to Brian Mackley and Colin Johnson. We wouldn’t have the club we all enjoy today without their commitment over the years.

2021 has seen a return to a full sailing season despite the restrictions of Covid-19 with the changing rooms remaining restricted until August. Due to the restrictions the open day was cancelled, and training has been limited throughout the year.

The club has hosted the RS400 Nationals in August plus several small events throughout the year. (NEYTS & Lakeland / Border Lasers in June / July and Scottish / Northern Singlehanders in September).

The RS400 event was a huge success and I appreciate the contribution of all our members that helped make the event happen. Special thanks must go to James & Yvonne Henry for organising the event catering, and Tony & Anna Sheils for their work tidying and preparing the compound ahead of the event. This is the second Nationals held in the club in three years and with the positive comments and reports we are in a good position to attract other classes in the future. Large events such as these demand a huge effort but make a significant contribution to the club finances, which I am sure James will cover in more detail.

Membership levels have remained stable through the year with an equal number of resignations and new members. We have several experienced sailors joining as members in recent months. It’s great to see new members getting out on to the water, and hopefully we can start to introduce more novices to the joys of sailing as we move forward. It is also great to see young families using the club once more, some of which we hope will become active members of the club in years to come.

Due to the uncertainties at the start of the year the rota was released late and expected to be added to with new members / late renewals as the year progressed. This didn’t work quite as planned and left gaps late in the season. To avoid a repeat, we may be forced to allocate more than three duties per member in 2022.

Social events, other than the RS400 event, have been minimal this year for obvious reasons. We chose to hold the prize giving and end of year social in the club this year, as well as holding it during the day, to avoid unnecessary congestion and to allow young families to attend.

The clubs financial position remains strong due to the RS400 event and government backed financial support during the pandemic. However, the cost of running the club is increasing due to fuel, utilities, and maintenance costs, which currently exceed our membership income. We need to continue to host such events to contribute to our reserves which are generated to allow upgrade and improvements to be funded, as well as in case of unforeseen repairs not covered by insurance. The reserves have also benefited from the government grants recently and the committee has agreed to allocate a portion of these reserves to improving the clubhouse facilities in terms of its appearance and what it provides to both new and existing members (more to follow).

Club Improvements

Let me start with disposal. We have had two working parties involving tidying the compound and make a start in the garages which resulted in two fully loaded skips leaving the compound.

You will undoubtably have already noticed that the tables in the wet room have been upgraded to a bistro style, which can also be used outside, necessitated, and funded via the 400 nationals. We have retained the previous bench tables to allow flexibility when holding large events.

The Scouts have replaced the container at the end of the old compound with two new units which will be used to store kayaks and windsurfing equipment and releases space in the boat stores.

It has now been 20 years since the extension to the club and any major work has been carried out, and whilst the presentation of the newer parts of the building remains good, the older parts (such as the wet room and downstairs changing rooms) are showing their age and no longer meeting our requirements of creating the correct first impressions to potential new members. This aligns with members views obtained from previous membership surveys. We have therefore agreed to commence the refurbishment process starting with a complete overhaul of the lady’s

downstairs changing rooms, which we have commissioned “Office Options” to supply and install new hardware.”

2. Sailing Secretary’s Report. The Sailing Secretary, Niall Graham presented his report as follows:-

a. 2020 results.

Due to Covid , and the inconsistent races during the disrupted season, we are not taking any results from 2020, and there will be no trophies awarded for 2020

b. 2021 Race series

Races in 2021 have been attended as follow

races available No of SSSC boats sailed
Wednesday
_evenings _ 18 26
Wednesday
early/late 5 15
Sun AM Early 22 35
Sun AM Late 19 45
Sun PM Early 18 9
Sun PM Late 16 12

Wednesday evening races continue to be well supported.

Sunday racing figures indicate that there is a much greater interest from SSSC members in sailing in morning races than afternoon races and there have been many Sunday afternoon events where there have been no SSSC representatives at all - and many with only one or two sailors from SSSC. Given this evidence, we are proposing to change the Sunday race format to three races run back-to-back rather than running morning and afternoon racing. This will make life easier for OD and safety crews. This change in format needs to be discussed with Tynemouth Sailing Club

c. Sailing events hosted in 2021

d. Sailing events planned for 2022.

The club is keen to attract sailors to external events during 2022, noting the benefit to the prestige of the club and the club’s finances. Provisional enquiries have been received with regard to the Solo class Northern Tour, the Scottish and Northern Single Handers meeting, NEYYTS and also the Streaker class Nationals. Discussions are ongoing with regard to these meetings.

==> picture [47 x 76] intentionally omitted <==

3. Treasurer’s Report. The Treasurer’s Report, delivered by Treasurer James Henry was as follows:-

“You will appreciate that the last two years have been like no others in the history of the club or the history of the country. The pandemic has made our operations over the past two years very different and it is very difficult to compare our current financial position to that of previous years. I am pleased to report that our overall finances are good, due to generous government support during the worse of the pandemic, reduced spend during the pandemic, the continued loyal support of our membership and the hard work of our membership during the 400 nationals which did finally go ahead last summer, much to the financial benefit of the club.

Although our cash at bank is very good now, for the reasons that I have just listed, we can’t afford to be complacent, and we need to be mindful of the need to develop our club and look after our assets. This is more challenging given the current high inflation rate and the impact of this inflation on our biggest areas of spend, notably the cost of fuel, utilities and the cost of keeping the club clean. We all know how much the cost of petrol has gone up by in the past couple of months. We all know how much the cost of electricity and gas has gone up by since the summer: fortunately, we have been able to hedge these utility costs to an extent by fixed rate utilities contracts negotiated last year. These will need to be renegotiated in a year or so, and I’m sure the rate will be much higher when we do: we need to be prepared for this. We also face much higher staff costs. Our only paid member of staff is our cleaner, and I’m pleased to note that we now have a very good cleaner, who began working with us last year. The going rate for good self-employed cleaning staff has gone up, and we now pay about £4800 per year to keep the club clean: in 2019 this cost about £3600.

In summary, it costs us a lot more just to keep standing still, far less develop the club. We also must remember that there are significant costs in keeping us all safe within the clubhouse: electrical certification costs us £1000 every five years, fire safety costs about £400 a year and maintaining the lift another £200 or so.

We also have to maintain a significant financial reserve just in case things go bump in the night: the things that worry me most are our ageing refrigeration plant in the cellar, and our antediluvian electrical fuse box: these won’t go on forever, and both will cost several thousand pounds to replace.

2020 Accounts

I would like to thank Peter Griffith for scrutinizing the 2020 accounts. Predictably, these accounts reflect the effect of the pandemic. In comparison

with 2019 our subscriptions were down, as was all our other income, except for the grant funding provided to businesses by the government during the pandemic, and the £10,000 grant that we received in the first lockdown is what kept us afloat during 2020. Our spend was also down due to reduced activity, but we do have quite high fixed costs and standing charges which still had to be paid.

The 2020 accounts record a net decrease in members’ assets of £4005 reflecting accruals for Gift Aid which we now won’t be claiming: this is a technical loss.

2021

Despite everything 2021 has been a relatively good year for the club. We received a further £11,000 or so in government aid over the winter and spring. We were able to offer members a 50% discount on membership subscriptions for the 2021 season, in compensation for reduced sailing opportunities last year, and many of you took up this discount, quite rightly.

We were able to host the 400s nationals over the summer, and this yielded a profit of about £7,000: quite a handsome return, but it was hard work.

There have been one or two other small wins: we have moved our insurance contract to Gallagher’s and now we have a much better deal, more tailored to the needs of a sailing club, and this has saved us about £1000, and the price is fixed for a further 2 years. We have also been given a partial rebate on our business rates, as part of general pandemic measures, and I understand that this will also apply next year.

Our cash at bank now is good: thanks to grants and events we have £68,500, a good £18,000 more than usual. It is our plan that we can use this money to develop the club and improve its amenity.

Being relatively cash rich, we have been considering ways of developing and improving the club. The club now has a defibrillator: I hope that we never have to use it, but public expectations are such that we need it. We invested in new tables and chairs for use in the wet room and at events: these were a godsend during the 400s event, and they have made the wet room much more flexible and comfortable. We hope to begin some serious work on the downstairs lady’s changing rooms early next year and we have several other schemes to improve the amenity of the club as funding and confidence in the future permit.

The future

So what of the future? As a committee, we hope that we can get to a point where subscriptions meet our running costs. Clearly the bigger our membership the better. In recent years subs haven’t always been covering our costs and we are beginning to address this, as we will discuss shortly. We also recognize that one of our biggest resources is our excellent facilities, and we look to making the best possible use of this amenity: the best way to use

a sailing club is to promote sailing, and we are looking hard to attract occasional events to keep up both our profile and our bank balance. We are also keen that the RYA see us as their preferred training venue for the North East.”

4. Development

Jason Riby outlined training and development achievements during 2021 and plans for 2022.

Yvonne Henry Honorary Secretary 15[th] November 2021

SOUTH SHIELDS SAILING CLUB Financial Accounts For The Year Ended 31st December 2020

SOUTH SHIELDS SAILING CLUB INCOME & EXPENDITURE ACCOUNT

For the Year End 31st December 2020

Notes
Income
6
Subscriptions
Bar
Kitchen
Sailing Events
Social Events
Training
Rent
7
Grant
Other
Expenditure
Maintenance:
Ribs, Rescue
Buildings & Services
Tractor
Fuel & Oil
Bar Stock
Kitchen Stock
Sailing Events
Social Events
Wages
Training
Utilities
Insurance
Tax
5, 6
Other/Sundry
Net Operating Surplus/(Deficit)
Depreciation
1
Boat Replacement Provision
4
Net Increase/(Decrease) in Members Assets		 2020
£
12,042
1,089
174
121
429
94
1,000
10,673
530
26,153
3,556
2,075
-
494
600
588
63
505
1,910
333
4,646
5,860
673
6,411
27,714
(1,561)
2,444
-
2,444
(4,005)		 2019
£
15,423
2,499
2,732
4,196
1,929
972
1,330
0
894
29,976
2,154
2,613
880
1,082
1,677
2,247
798
1,700
3,640
271
5,214
5,178
579
1,202
29,235
741
3,464
-
3,464
(2,723)

Page 1 of 7

SOUTH SHIELDS SAILING CLUB BALANCE SHEET AT 31ST DECEMBER 2020

Notes
Tangible Fixed Assets
2
Current Assets
Stock
5
Debtors & Prepayments
6
Cash At Bank
Current Liabilities
Creditors & Accruals
Provisions
4
Net Current Assets
Long Term Liabilities
None
Net Assets
Members Funds
Income & Expenditure
Grants
3		 £
£
362,500
-
-
52,317
52,317
414,817
-
52,420
52,420
362,397
-
362,397
38,607
323,789
362,396
2020		 £
£
369,947
936
4,800
48,209
53,945
423,892
87
52,420
52,507
371,385
-
371,385
42,592
328,792
371,384
2019		 £
£
369,947
936
4,800
48,209
53,945
423,892
87
52,420
52,507
371,385
-
371,385
42,592
328,792
371,384
2019
-
52,420		 87
52,420
423,892
52,507
- -
371,385
371,385
42,592
328,792
371,384

Page 2 of 7

Credit

Tax Other Total - - -

Page 2 of 7

SOUTH SHIELDS SAILING CLUB MOVEMENT ON INCOME & EXPENDITURE FUND

For the Year End 31st December 2020

Funds at 1st January
Prior Year Adjustment
Surplus/(Deficit) For The Year
Balance at 31st December		 2020
£
42,612
0
(4,005)
38,607		 2019
£
45,335
0
(2,723)
42,612

Page 3 of 7

SOUTH SHIELDS SAILING CLUB NOTES TO THE ACCOUNTS

At 31st December 2020

1. Analysis of Depreciation Charge for 2020

Land & Buildings (1%)
Boats & Equipment
Dinghies & Ribs (10%)
Engines (20%)
Electronics (20%)
Sailing Equipment (20%)
Fixtures & Fittings
Miscellaneous Club Fittings (20%)
Grant Amortisation
(2011 Grant)
(2002 Grant)
(2001 Grant 2)
(1994 Grant)
Net Depreciation Charge		 £
1,028
300
-
900		 £
4,451
2,228
768
768
1,000
2,641
334
1,028
7,447
5,003
2,444

Page 4 of 7

SOUTH SHIELDS SAILING CLUB NOTES TO THE ACCOUNTS CONTINUED

At 31st December 2020

2. Tangible Fixed Assets

Cost:
As at 1st January 2020
Additions
Disposals
As at 31st December 2020
Depreciation:
As at 1st January 2020
Annual Charge
Disposals
As at 31st December 2020
Net Book Value at 1st January 2020
Net Book Value at 31st December 2020		 Land &
Boats &
Fixtures &
Total
Buildings Equipment
Fittings
£
£
£
£
445,074
122,669
34,049
601,792
-
-
-
-
445,074
122,669
34,049
601,792
84,266
114,298
33,281
231,845
4,451
2,228
768
7,447
88,717
116,526
34,049
239,292
360,808
8,371
768
369,947
356,357
6,143
-
362,500

Page 5 of 7

SOUTH SHIELDS SAILING CLUB NOTES TO THE ACCOUNTS CONTINUED

At 31st December 2020

3. Grants

At 1st January 2020
New Grant
Amortisation
At 31st December 2020		 1994
2001
2002
2011
Total
Grant
Grant 2
Grant
Grant
£
£
£
£
£
80,190
27,388
219,215
2000
328,792
-
(1,028)
(334)
(2,641)
(1,000)
(5,003)
79,162
27,054
216,573
1,000
323,789

Page 6 of 7

SOUTH SHIELDS SAILING CLUB NOTES TO THE ACCOUNTS CONTINUED

At 31st December 2020

At its September 2014 meeting, the Club's Committee confirmed that the provision was adequate for replacement of the dinghy training fleet and that the fleet still had many years of life left.

5 Stock levels 31st December 2020 estimated to be zero due to Covid 19. This reduction of stock is recorded as an expenditure in "other".

6 South Shields Sailing Club has received clarification regarding Gift Aid rules and only a small proportion of subscriptions are eligible for gift aid. This has reduced the level of subscriptions and also resulted in an additional £4800 adjustment (recorded as "other") due to previous year's tax credits.

7 Covid 19 support Grant: £10 000 Covid 19 rates refund: £673

SOUTH SHIELDS SAILING CLUB

At 31st December 2020

Report Of The Reviewer of Accounts

I have examined the financial statements on pages 1 to 6 and in my opinion they give a true and fair view of the state of affairs of South Shields Sailing Club at 31st December 2020 and of the surplus for the year then ended.

The co-operation and assistance provided by the Club's former and present Officers throughout the review is gratefully acknowledged.

Peter Griffith

26th October 2021

Page 7 of 7

SOUTH SHIELDS SAILING CLUB Financial Accounts For The Year Ended 31st December 2020

SOUTH SHIELDS SAILING CLUB INCOME & EXPENDITURE ACCOUNT

For the Year End 31st December 2020

Notes
Income
6
Subscriptions
Bar
Kitchen
Sailing Events
Social Events
Training
Rent
7
Grant
Other
Expenditure
Maintenance:
Ribs, Rescue
Buildings & Services
Tractor
Fuel & Oil
Bar Stock
Kitchen Stock
Sailing Events
Social Events
Wages
Training
Utilities
Insurance
Tax
5, 6
Other/Sundry
Net Operating Surplus/(Deficit)
Depreciation
1
Boat Replacement Provision
4
Net Increase/(Decrease) in Members Assets		 2020
£
12,042
1,089
174
121
429
94
1,000
10,673
530
26,153
3,556
2,075
-
494
600
588
63
505
1,910
333
4,646
5,860
673
6,411
27,714
(1,561)
2,444
-
2,444
(4,005)		 2019
£
15,423
2,499
2,732
4,196
1,929
972
1,330
0
894
29,976
2,154
2,613
880
1,082
1,677
2,247
798
1,700
3,640
271
5,214
5,178
579
1,202
29,235
741
3,464
-
3,464
(2,723)

Page 1 of 7

SOUTH SHIELDS SAILING CLUB BALANCE SHEET AT 31ST DECEMBER 2020

Notes
Tangible Fixed Assets
2
Current Assets
Stock
5
Debtors & Prepayments
6
Cash At Bank
Current Liabilities
Creditors & Accruals
Provisions
4
Net Current Assets
Long Term Liabilities
None
Net Assets
Members Funds
Income & Expenditure
Grants
3		 £
£
362,500
-
-
52,317
52,317
414,817
-
52,420
52,420
362,397
-
362,397
38,607
323,789
362,396
2020		 £
£
369,947
936
4,800
48,209
53,945
423,892
87
52,420
52,507
371,385
-
371,385
42,592
328,792
371,384
2019		 £
£
369,947
936
4,800
48,209
53,945
423,892
87
52,420
52,507
371,385
-
371,385
42,592
328,792
371,384
2019
-
52,420		 87
52,420
423,892
52,507
- -
371,385
371,385
42,592
328,792
371,384

Page 2 of 7

Credit

Tax Other Total - - -

Page 2 of 7

SOUTH SHIELDS SAILING CLUB MOVEMENT ON INCOME & EXPENDITURE FUND

For the Year End 31st December 2020

Funds at 1st January
Prior Year Adjustment
Surplus/(Deficit) For The Year
Balance at 31st December		 2020
£
42,612
0
(4,005)
38,607		 2019
£
45,335
0
(2,723)
42,612

Page 3 of 7

SOUTH SHIELDS SAILING CLUB NOTES TO THE ACCOUNTS

At 31st December 2020

1. Analysis of Depreciation Charge for 2020

Land & Buildings (1%)
Boats & Equipment
Dinghies & Ribs (10%)
Engines (20%)
Electronics (20%)
Sailing Equipment (20%)
Fixtures & Fittings
Miscellaneous Club Fittings (20%)
Grant Amortisation
(2011 Grant)
(2002 Grant)
(2001 Grant 2)
(1994 Grant)
Net Depreciation Charge		 £
1,028
300
-
900		 £
4,451
2,228
768
768
1,000
2,641
334
1,028
7,447
5,003
2,444

Page 4 of 7

SOUTH SHIELDS SAILING CLUB NOTES TO THE ACCOUNTS CONTINUED

At 31st December 2020

2. Tangible Fixed Assets

Cost:
As at 1st January 2020
Additions
Disposals
As at 31st December 2020
Depreciation:
As at 1st January 2020
Annual Charge
Disposals
As at 31st December 2020
Net Book Value at 1st January 2020
Net Book Value at 31st December 2020		 Land &
Boats &
Fixtures &
Total
Buildings Equipment
Fittings
£
£
£
£
445,074
122,669
34,049
601,792
-
-
-
-
445,074
122,669
34,049
601,792
84,266
114,298
33,281
231,845
4,451
2,228
768
7,447
88,717
116,526
34,049
239,292
360,808
8,371
768
369,947
356,357
6,143
-
362,500

Page 5 of 7

SOUTH SHIELDS SAILING CLUB NOTES TO THE ACCOUNTS CONTINUED

At 31st December 2020

3. Grants

At 1st January 2020
New Grant
Amortisation
At 31st December 2020		 1994
2001
2002
2011
Total
Grant
Grant 2
Grant
Grant
£
£
£
£
£
80,190
27,388
219,215
2000
328,792
-
(1,028)
(334)
(2,641)
(1,000)
(5,003)
79,162
27,054
216,573
1,000
323,789

Page 6 of 7

SOUTH SHIELDS SAILING CLUB NOTES TO THE ACCOUNTS CONTINUED

At 31st December 2020

At its September 2014 meeting, the Club's Committee confirmed that the provision was adequate for replacement of the dinghy training fleet and that the fleet still had many years of life left.

5 Stock levels 31st December 2020 estimated to be zero due to Covid 19. This reduction of stock is recorded as an expenditure in "other".

6 South Shields Sailing Club has received clarification regarding Gift Aid rules and only a small proportion of subscriptions are eligible for gift aid. This has reduced the level of subscriptions and also resulted in an additional £4800 adjustment (recorded as "other") due to previous year's tax credits.

7 Covid 19 support Grant: £10 000 Covid 19 rates refund: £673

SOUTH SHIELDS SAILING CLUB

At 31st December 2020

Report Of The Reviewer of Accounts

I have examined the financial statements on pages 1 to 6 and in my opinion they give a true and fair view of the state of affairs of South Shields Sailing Club at 31st December 2020 and of the surplus for the year then ended.

The co-operation and assistance provided by the Club's former and present Officers throughout the review is gratefully acknowledged.

Peter Griffith

26th October 2021

Page 7 of 7