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|Contents||
|---|---|
|Charityinformation|L|
|lntroductionbyChief ExecutiveOfficer|2|
|Objects andactivities for the public benefit|3|
|Review ofthe year|4to5|
|Hopesandplansfor theyear ahead|6|
|Financial results|6|
|Structure, governance andmanagement|7|
|Statementoftrustees' responsibilities|8to9|
|Report oftheindependent auditors|10to13|
|ConsolidatedStatement ofFinancialActivities|L4|
|Consolidated and CharityBalance Sheets|15|
|Statement ofCash Flows|L6|
|Notesto the financial statements|L7to27|









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|Risk|Controls|
|---|---|
|School couldfailtomoveupa|Extensiveworkoncurriculumtoimprove outcomesand|
|grade intheOfstedjudgementat|evidence.ASchool Governing Bodytobeappointed|
|next inspection|and meettermly.H&SOfficer appointedtooversee|
||buildingimprovements.Safeguarding practicesto|
||adoptsvstemsfor staffandtrustees.|
|Difficulties recruiting and retaining|Established 2-yeartrainingprogrammeofaccredited|
|goodqualitystaff limits capacity|awards|
||lncreased pay aboveindustrylevelsacrosstheboard.|
||Increasedannualleaveentitlementto a!eve!|
||comparablewithcolleeesofFE.|
|Serioussafeguarding incidents|Rigoroussafeguardingsystemsinplacethroughout the|
|could significantly impact referrals|organisation.Allstaff trainedwithregularrefresher|
|andpotentiallycloseour provision|courses.Designated SafeguardingLeadsappointedand|
||deputieswillbeinplaceandappropriately trained.|
||Safeguardingtrusteeisinplaceand regular structured|
||meetingstakeplace.|





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||Notes|||Total|Total|
|---|---|---|---|---|---|
|||unrestrictedRestricted||Funds|Funds|
|||funds|funds|2023|2022|
|||ff||f|f|
|lncomingresources||||||
|lncomingresourcesfromgenerotedfunds:||||||
|Donations and similar sources|4|t32||732|5,277|
|Othertradi ngactivities||||||
|EmsworthOutboards||7,to6||7,!06|33,205|
|Choritableactivities:||||||
|Grants receivedforactivities|||2,500|2,500|23,500|
|Feeschargedforactivities||L,882,68;||7,882,69L|7,724,458|
|lnvestment income||5,692||5,692|4,380|
|Totalincoming resources||1,895,511|<br>2,500|L,898,117|1,,790,9!4|
|Resourcesexpended||||||
|Costsof generatingfunds||20,638||20,638|<br>69,191|
|Choritableodivities:||||||
|Educationalactivities||7,827,388|26,3t6|1,853,704|7,606,342|
|Totalresources expended||L,848,026|26,316|L,874,342|7,674,523|
|Net movementinfunds||47,585|(23,815)|23,769|LL6,29L|
|Reconciliation offunds||||||
|Totalfundsat1September 2022||839,566|24,376|863,882|747,59L|
|Total fundsat31August 2023||887,757|500|887,657|853,992|
|ChangesinResourcesAppliedforFixed Assets|forCharityUse|||||
|Netmovementinfunds||||23,769|1.76,291|
|Net resources investedinfixedassets||||(L79,4341|(72,36L1|
|Fundedbyreserves andother fundingsources||||(155,665)|43,930|





## 

|BALANCESHEETS<br>ASAT 31AUGUST2023||||||
|---|---|---|---|---|---|
||Notes|Group||Charity||
|||2023|2022|202?|2022|
|||f.|€|f|c.|
|Fixed Assets||||||
|lntangibleassets|10|||||
|Tangibleassets|71|668,527|551,416|668,527|544,267|
|lnvestments|t2|||10|30|
|||668,527|55].,4t6|668,537|544,297|
|Currentassets||||||
|Stocks|13|7,524|L4,412|7,524|10,534|
|Debtors|L4|47,O03|109,582|46,276|L39,162|
|Cashatbank andinhand||424,L58|467,792|422,379|463,455|
|||478,685|59L,786|476,t79|613,151|
|Creditors: Amountsfallingduewithinone<br>year|15|(259,551)(99,098)||(252,9L41|(94,496)|
|Netcurrentassets||2L9,L24|492,688|223,265|518,655|
|Totalassetslesscurrent liabilities||887,657|L,044,L04|891,8027,062,952||
|Creditors: Amountsfalling aftermorethan||||||
|oneyear|16||lL8O,222l|-|(t80,2221,|
|NetAssets||887,651|863,882|891,802|882,730|
|Thefunds ofthe charity:||||||
|Restricted income funds|77|500|24,316|500|24,3L6|
|||-||||
|Unrestricted income funds:|17|887,157|839,566|891,302|858,4L4|
|Total charityfunds||887,651 863,882||891,802|882,730|





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## 

|STATEMENTOF CASH TTOWS<br>ASAT 31 AUGUST2023||||||
|---|---|---|---|---|---|
||Notes|2023||2022||
|||ff||ff||
|Cashfiow fromoperatingactivities|20||L46,824||108,948|
|Cashflow frominvestingactivities||||||
|Paymentstoacquiretangible fixedassets||{L79,4341||(74,4481||
|Receiptsfromsalesoftangible fixedassets||13,959||5,650||
|lnvestment incomereceived||5,692||4,380||
||||(759,784)||(64,4181|
|Netcashflow frominvestingactivities||||||
|Cashflow fromfinancingactivities||||||
|Repaymentoflongtermloans||(18,965)||(20,651)||
|lnterestpaid||(11,709)||(7,509)||
|Netcashflow fromfinancingactivities|||(30,674l.||(28,160)|
|Netincrease/(decrease)incashandcashequivalents|||(43,6341||t6,370|
|CashandcashequivalentsatISeptember2022|||467,792||451,422|
|Cashandcashequivalents at31August2023|||424,L58||467,792|





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|The consolidatedstatement offinancial activitiesincludestheresul<br>ReleasingPotentialEnterprisesLtd. Thesummaryperformanceofthe|tsofthecharity'swhollyownedsubsidiary<br>charityaloneis:|
|---|---|
||2023<br>2022|
||ff|
|lncome|1,891,005L,757,609|
|Donations undergift-aidfromsubsidiary companies|(19,4251(33,756)|
|Loantosubsidiary companies released|(70,74t)|
|Other charges madetosubsidiary companies|-<br>325|
||1,850,8397,724,768|
|Expenditure|1,85L,767t,6O4,636|
|Net income/(expenditure)|9,072<br>119,532|





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## 

## 

|Unrestricted|Restricted||||
|---|---|---|---|---|
|funds|funds||2023|2022|
|ff|||f|f|
|L32|||t32|5,27t|
|t32||-|132|5,27L|



## 

|Unrestricted|Restricted|||
|---|---|---|---|
|funds|funds|2023|2022|
|f|f|€|f|
||2,000|2,000||
||s00|s00||
||||2O,OO;|
||||3,500|
||2,5O0|2,500|23,500|



## 

|Unrestricted|Restricted|||
|---|---|---|---|
|funds|funds|2023|2072|
|f|t|f|f|
|4,972||4,972|60|
|720||720|4,320|
|5,692||5,692|4,380|



## 

|Unrestricted|Restricted|||
|---|---|---|---|
|funds|funds|2023|2022|
|f|f|f|f|
|20,370||20,3tO|67,522|
|328||328|659|
|20,638||20,638|58,181|





|EASINGPOTENTIALt!MITED<br>TESTO THE FINANCIAL STATEMENTS<br> THE YEAR ENDED31 AUGUST2023<br>Expenditureoncharitableactivities||||27|
|---|---|---|---|---|
||Unrestricted|Restricted|||
||funds|funds|2023|2022|
||f|f|f|f|
|Staff costs inc.training|1,4L4,220||7,474,220|L,273,93O|
|Direct costs|L97,91.9|26,376|224,234|1"86,525|
|Support costs|L95,962||195,962|787,352|
|Governance costs|1g,2gg||79,2gg|18,535|
||7,827,388|26,3t6|1,853,704|1,606,342|



||Unrestricted|Restricted|||
|---|---|---|---|---|
||funds|funds|2023|2422|
||f|f|€€||
|Direct costs|||||
|Activitycosts andequipment|73,044|26,316|99,360|84,496|
|Boat costs|9,090||9,090|7,300|
|lnsurance|19,559||19,669|77,703|
|Motorandtravelcosts|5L,707||5L,707|42,472|
|Depreciation|48,076||48,016|38,184|
|(Profit)/lossonsaleofassets|(3,508)||(3,608)|<br>(3,030)|
||L97,978|26,376|224,234|186,525|
|Support costs|||||
|Propertycosts|!25,049||725,O49|99,406|
|Office costs|59,204||59,204|80,437|
|Financecharges andinterest|Lt,709||ll,709|7,509|
||L95,962||795,962|787,352|
|Governance costs|||||
|Auditor'sremuneration|8,667||8,667|7,519|
|Professional fees|8,266||8,266|9,799|
|Other governance costs|2,355||2,355|1,218|
||19,288||19,288|18,535|



|52,Ozt|52,O27|
|---|---|
|2,!46|2,746|





## 

||2023|2022|
|---|---|---|
||€|f|
|Wagesand salaries|1,735,227|1,057,328|
|Socialsecuritycosts|702,823|<br>88,260|
|Pension costs|51,858|<br>45,862|
||_1,289,999__!,tgt,4so_||



|staff employedbythe groupduringtheyearwereasfollows:|||
|---|---|---|
||2023|2022|
||No|No|
|Operational|33.2s|33,37|
|Support|7.27|5.3s|
|ReleasingPotentialEnterprisesLtd|0.08|2.00|
||40.60|4L.72|
|The averagenumber of staff employedbythe group(Headcount)|47.30|49.67|



|!ntangible fixedassets(group)|||
|---|---|---|
||Goodwill|Total|
||f|€|
|Cost|||
|At1-September 2022<br>Eliminated on disposal<br>At31August 2023|16,000<br>+|15,000<br>+|
|Amortisation|||
|At1September 2022<br>Eliminated on disposal<br>At31August 2023|16,000<br>+|16,000<br>e|
|Netbook value|||
|At31August 2023|||
|At31August 2022|||





|angiblefixedassets(grou|p)|||||
|---|---|---|---|---|---|
||Freehold&||Fixtures&|||
||Leasehold|Plant&|Motor|office||
||Property|Boats<br>Machinery|vehicles<br>equipment||Total|
||f|f<br>f|f|f|f|
|Cost||||||
|At1September 2022|516,873|25,599 151,553|95,287|52,077|841,339|
|Additions<br>Disposals|LO6,769<br>(L7,476)|21,770<br>7,779<br>19,940<br>(22,s99)(21,839) (11,800)||23,236<br>(16,6s7)|L79,434<br> (84,311)|
|At31August 2023|612,226|24,770 737,443|703,427|58,595|936,462|
|Depreciation||||||
|At1September 2022|57,924|22,559 82,473|<br>81,613|45,4L4|289,923|
|Chargefor the year<br>Eliminated on disposals|7!,945<br>(7,394)|4,672<br>L8,767<br>7,530<br> (21,9s9) (18,134) (9,409)||7,502<br>(15,508)|50,415<br> (72,404)|
|At31August 2023|62,475|5,272<br>83,046|79,734|37,408|267,935|
|Net book value||||||
|At31August 2023|549,75L|L9,498 54,397|<br>23,693|27,L88|668,527|
|At31August 2022|458,949|3,040<br>69,150|<br>13,674|6,603|551,416|



|angiblefixedassets(charit|y)|||||
|---|---|---|---|---|---|
||||Fixtures&|||
||Freehold|Plant&|Motor<br>office|||
||Property|Boats<br>Machinery|vehicles<br>equipment||Total|
||€|f<br>f|f|€|f|
|Cost||||||
|AtlSeptember 2022|509,446|25,599 742,476|85,287|5t,217|814,025|
|Additions<br>Disposals<br>At31August 2023|706,769<br>(3,989)<br>6t2,226|27,770<br>7,779<br>L9,940<br>(22,s99l.(L2,7s21 (1,800)<br>24,770t37,443LO3,427||23,236<br> (1s,857)<br> 58,595|779,434<br> (56,997)<br>936,462|
|Depreciation||||||
|At1September2022<br>Chargefor the year<br>Eliminated on disposals<br>At31August 2023|52,309<br>10,884<br>(718)<br>62,475|22,559 76,774<br>73,502<br>4,672<br>L7,9OO<br>7,O58<br> (21,sss)(11,628) (826)<br>5,272<br>83,045<br>79,734||44,674<br>7,502<br>(L4,7081<br>37,408|269,758<br>48,016<br> (49,839)<br>267,935|
|Net book value||||||
|At31August 2023|549,75t|L9,498 54,397|<br>23,693|21,!88|668,527|
|At31August 2022|457,737|3,O4O 65,702|<br>77,785|6,603|544,267|





|EASINGPOTENTIAITIMITED<br>ES TOTHE FINANCIAL STATEMENTS<br> THE YEAR ENDED31AUGUST2023<br>Fixed assetinvestment-Charity||||24||
|---|---|---|---|---|---|
|||2023||2022||
||Company|||||
|Wholly ownedsubsidiarycompany|NumberShareholding|€||f||
|ReleasingPotentialEnterprisesLtd|10526819Ordinarysharesoffleach||10||10|
|Youth Coastal RowingLtd|10486398Ordinarysharesoffleach||||10|
|BeachExplorersLtd|105t3972Ordinaryshares off1each||||10|
||||10||30|



||The summaryfinancial performanceofthe trading|subsidiariesissetout|below:|||
|---|---|---|---|---|---|
|||||ReleasingPotential||
|||||Enterprises|Ltd|
|||||2023|2022|
|||||f|f|
||Turnover|||7,106|33,205|
||Costofsalesandadministrationcosts|||9,614|136,!2!)|
||Chargespaidby(to) parent undertaking||||(32s)|
||Netprofit/(loss)|||16,720|(3,247)|
||Amountgift-aidedtothe charity|||||
||Taxon profit/(loss)|||(2,O23)||
||Retainedinthesubsidiary|||M,69?|(3,2471|
||TangibleFixed assets|||-|7,149|
||Currentassets<br>Current liabilities|||2,450<br>(6,6471|10,306<br> (36,349)|
||Netassets|||rct<br>-TlEpgai||
||Aggregate share capital and reserves|||(4,1971|(18,894)|
|13|Stocks|||||
|||Group<br>2023|2022|Charity<br>2023|2022|
|||ff||f|f|
||Goodsforresale|7,524|74,4L2|7,524|10,534|



|Debtors: amountsfallingduewithinoneyear|||||
|---|---|---|---|---|
||Group||Charity||
||2023|2022|2023|2022|
||f€||f|f|
|Operational debtors|||72|32,959|
|Amounts owedbygroup undertakings||||31,747|
|Other debtorsandprepayments|46,262|75,639|46,204|74,456|
||47,OO3|109,582_|_46,2?6_|t39,162|
||||4_||





|Creditors: amountsfallingduewithinoneye|ar||||
|---|---|---|---|---|
||Group||Charity||
||2023|2022|2023|2022|
||ff||€|f|
|Repayments dueonbank loans|180,861|L9,604|180,851|79,604|
|Operational creditors|24,833|29,495|23,476|28,OLl|
|Socialsecurity andothertaxes|23,007|27,486|2L,996|21,069|
|Other creditorsand accruals|30,865<br>,5rF61|28,513<br>"^Or8|26,591<br>'5411.4|25,813<br>%,4%|



||Group<br>2023|2022|Charity<br>2023|2022|
|---|---|---|---|---|
||ff||ff||
|Duebetweentwoandfiveyears:|||||
|Repayments dueonbank loans||78,4L6|-|78,4t6|
|Dueafterfive years:|||||
|Repayments dueonbank loans||101,906||101,905|
|||780,222||t8o,222|



## 

|Funds|||||||||
|---|---|---|---|---|---|---|---|---|
||Balanceat|lncoming||Resources||||Balanceat|
||1September|resources|||expended|Transfers||31August|
||2022|||||||2023|
||f||f||f||f|f|
|Charity|||||||||
|Restricted income funds|||||||||
|Capital Grants|700||2,000||<br>(2,7ool||||
|Equipment Grant|||s00|||||500|
|Sailing Programme|23,616|||||l23,676)||||
||24,3L6||2,500||(26,316)|||500|
|Unrestricted income funds|||||||||
|Designatedfixedasset reserve|343,741||||-|743,925487,666|||
|Generalfund|5L4,673|1,858,339||(1,825,451)(L43,9251403,636|||||
||858,414|1,858,339||(1,825,451)|||-|89L,302|
|Total charity funds|882,730|1,960,939||(1,95!,767)||||891,802|
|Subsidiary undertakings<br>ReleasingPotentialEnterprisesLtd<br>Total subsidiary funds|(18,848)<br>(18,848)||7,LO6<br>7,106||7,59L<br>7,59L|||(41s1)<br>(41s1)|
|Total funds|863,882|7,867,945||(1,844,776)|||<br>-|887,651|





|Analysisof netassetsbetween funds-Group|||||||
|---|---|---|---|---|---|---|
||Unrestricted|Designated||Restricted||Total|
|At31Augusl202S|funds||funds||funds|funds|
||f_||f||f|f|
|Intangiblefixedassets|||||||
|Tangiblefixedassets|||668,527|||668,527|
|NetCurrentAssets|399,48;||(180,861)||500|219,124|
|Creditors:Amounts fallingaftermorethanone year|||||||
||399,485||487,666||<br>500|887,651|
||Unrestricted|Designated||Restricted||Total|
|At31Augustz022|funds||funds||funds|funds|
||f||f||f|f|
|lntangible fixedassets|||||||
|Tangiblefixedassets|7,!49||544,267|||557,4L6|
|NetCurrentAssets|487,976-||(19,604)||24,g1;|492,688|
|Creditors:Amounts fallingaftermore thanone year|||(780,2221|||$q,24|
||495,725||344,44L||24,3L6|863,992|



|Analysisofnetassetsbetween funds-Charity|||||
|---|---|---|---|---|
||Unrestricted|Designated|Restricted|Total|
|At31Augustz0zS|funds|funds|funds|funds|
||f|f|f|f|
|Tangiblefixedassets||568,527||668,527|
|lnvestments|10|||10|
|NetCurrentAssets|403,626|(180,861)|500|223,265|
|Creditors:Amounts fallingaftermore thanone year|||||
||403,636487,666||500|891,802|
||Unrestricted|Designated|Restricted|Total|
|At31August20z2|funds|funds|funds|funds|
||f|f|f|f|
|Tangiblefixedassets||544,267||544,267|
|lnvestments|30|||30|
|NetCurrentAssets|513,943|(19,604)|2#L;|518,655|
|Creditors:Amounts fallingaftermore thanone year||(180,222l,||(78O,222)|
||513,973|344,44L|24,376|882,730|





|At31August 2023theGroup and Charityhasfutureminim|umleasecommitmentsasfo|llows:||
|---|---|---|---|
||Property<br>ff|Other|Total<br>f|
|Not laterthan1year|63,304|7,922|77,226|
|Laterthan1year andnot later than5years|74,786|28,7t7|103,503|
|Laterthan5years|46,625||46,625|
||!84,715|36,639|221,354|



|Reconciliationofnet incometonetcashflow fromoperatingactivities|||
|---|---|---|
||2023|2022|
||f|f|
|Net incomefortheyear|23,769|t16,297|
|lnvestment incomereceivable|(5,692)|(4,380)|
|lnterestpayable|LL,7Og|7,509|
|Depreciation andimpairmentoftangible fixedassets|50,4L6|4!,029|
|(Profit)/losson disposalof tangible fixedassets|(2,051)|(3,030)|
|(lncrease)/decrease in stock|6,888|(9,998)|
|(lncrease)/decrease indebtors|62,579|(48,730)|
|lncrease/(decrease) increditors|(7e4l.|L0,257|
|Netcashflow fromoperating activities|L46,824|108,948|



|Financialinstruments|||||
|---|---|---|---|---|
||Group||Charity||
|Categorisation offinancial instruments|2023|2022|2023|2022|
||ff||f|f|
|Financialassetsthataredebt instrumentmeasured at|||||
|amortisedcosts|439,442|5L5,464|436,994|538,156|
|Financialliabilitiesmeasured atamortisedcosts|259,561|279,320|252,9L4|274,7L8|



##