The Safe Anchor Trust Limited
(Limited by Guarantee)
Financial Statements 31 December 2023 Together with Trustees and Independent Examiner's reports
Company Registered number: 4700044
Registered Charity number: 1100071
The Safe Anchor Trust Limited
| Contents Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements |
Pages |
|---|---|
| 1-6 7 8 9 10-14 |
Page 1
The Safe Anchor Trust Limited
Report of the Trustees for the year ended 31 December 2023
The Trustees present their report together with the financial statements of the Charity for the year ended 31st December 2023.
The accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102 and the Companies Act 2006 as applies from 1 January 2015. The company is a Public Benefit Entity as defined by FRS 102.
Reference and Administration Information
Charity Registration Number: 1100071
Company Registration Number: 4700044
Directors and Trustees
The Directors of the Charitable Company are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees and the Charity respectively.
The Trustees serving during the year and subsequent to the year end were as follows:
Mr David Leigh Antcliffe Mr Dean Duane Armitage (resigned 16 February 2024) Mr Andrew John Barker Mr Mohammed Iqbal Bhana (resigned 23 March 2023) Mrs Christine Margaret Clark Mr Stanley McIlheron Hardy (resigned 18 January 2024) Mr David Alexander Himsley (reappointed 9 October 2023) Mrs Laura Moore (appointed 24 October2023) Mr Kevin Musgrave (appointed 9 October 2023) Mr Kevin Arthur Sharp (resigned 18 January 2024) Ms Paula Michelle Sherriff (appointed 31 July 2023) Mr Kevin Gordon Thorburn Mr Jeffrey David Trigg Mr John Steven Whitelock
Secretary
Mr Jeffrey David Trigg
Page 2
The Safe Anchor Trust Limited
Report of the Trustees (continued)
Registered Office
6 Mallard Way, Slaithwaite, Huddersfield HD7 5JL
Independent Accounts Examiner
Ms B Whiteley, 8 Sunhill, Fleets Lane, Rylstone, Skipton BD23 6NA
Bankers
C A F Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
Solicitors
Ramsdens Whitfield Hallam, 7 King Street, Mirfield, West Yorkshire, WF14 8AW
Investment Managers
Castlefield Investment Partners LLP, 111 Piccadilly, Manchester, M1 2HY
Structure Governance and Management
Governing Document
The Safe Anchor Trust Limited is a Company limited by guarantee and governed by its Memorandum and Articles of Association. The Company was incorporated on 18 March 2003 and is also a Registered Charity with the Charity Commission.
Recruitment, Appointment and Retirement of Trustees
The Directors of the Company are its Trustees for the purposes of the Charity Law and are subject to appointment, and retirement, under the rules set out in the Articles of Association. In the event of the Company being wound up members are each required to contribute an amount not exceeding £10.00. Trustees are appointed subject to the recommendation of existing Trustees provided that he, she or they are aged 18 years or more. In recruiting Trustees the Board seeks to ensure that the needs of the Charity are appropriately reflected through the diverse interests and skills of the Trustee body as a whole.
Newly appointed Trustees retire from office at the next following Annual General Meeting of the charity when he, she or they, being willing, may stand for re-election. All Trustees are subject to retirement by rotation in accordance with the Articles of Association when the numbers nearest to one third at each Annual General Meeting shall retire. They, being willing may then stand for re-election. The number of Trustees shall not be less than four.
Mr Mohammed Iqbal Bhana resigned during the year and since the year end Mr Kevin Arthur Sharp, Mr Stanley McIIheron Hardy and Mr Dean Duane Armitage have also resigned. We are grateful to them all for the service they have given to the Charity. We welcome Mrs Laura Moore, Mr David Alexander Himsley and Mr Kevin Musgrave to the Board who bring a wide range of talent and experience, which will be of huge benefit to the Trust.
Trustees retiring at this years Annual General meeting are Messrs Andrew John Barker, David Alexander Himsley, Kevin Musgrave, John Steven Whitelock, Mesdames Christine Margaret Clark and Laura Moore. All are eligible for re-election.
Page 3
The Safe Anchor Trust Ltd.
Report of the Trustees (continued)
Trustee Induction and Training
New Trustees are provided with copies of the most recent accounts of the charity and a copy of its governing documents, as well as any other documents produced by the Charity, together with an explanation from the Chairman and other Trustees of the manner in which the Charity is organised and managed and includes:
The obligations and responsibilities of the Trustees The operational framework of the Charity
The current financial position Future plans and objectives
All Trustees are encouraged to maintain an up to date understanding of their responsibilities by taking advantage of any relevant external training events and publications issued by the Charity Commission.
Organisational Structure
The Board of Trustees are responsible for the overall management and control of the activities of the Charity and meet approximately every three months, and as required, if additional meetings are necessary. The day to day management of the boating activities is undertaken by a group of the Trustees who, together with selected volunteers, process applications from groups wishing to use the cruise boats, organise outings and events for the general public and ensure the maintenance and upkeep of our passenger vessels. They also ensure that all those entrusted with the running and skippering of the boats are fully trained through our accredited RYA Training Centre and are aware of their responsibilities to the general public.
Risk Management
The Trustees are responsible for the management of the risks faced by the Charity and have reviewed the major risks and measures for their mitigation, as part of an ongoing process. They are satisfied that the processes adopted are adequate to identify and minimise any impact which such risks might have on the Charity or its activities in the future.
Objectives and Activities
The Charitable Company was incorporated on 18 March 2003 to take over the undertaking, assets and liabilities of the charity founded in 1995 and known as The Safe Anchor Trust, registered Charity number 1056959. The transfer took place on 1 January 2004 without any consideration being paid.
The principal objects and activities of the Charity are:
The provision of free, enjoyable and safe boat trips for the general public and especially those in our community who are disadvantaged through physical or mental disabilities, social isolation and age or social deprivation.
The maintenance and improvement of the river, canal and canal side environment in conjunction with the Canal and River Trust.
The activities are centred on three cruise boats; Lady Victoria, E Austen Johnson and Safe Anchor Lady, with one work boat Lady Brenda and, until this year, Lady Rhodes. All the boats are owned and operated by the Charity. All of the activities, including day to day maintenance of the boats, are carried out by volunteers and Trustees. During the year regular continuing maintence was completed on the boats. Towards the end of the season E Austen Johnson was found to need major work on the bottom plating and was withdrawn from service. A provision of £15k has been made in these accounts for this work. During the year work was carried out on Lady Rhodes to prepare her for sale as she was no longer suited to our requirements. The sale to a private buyer was completed in October 2023. We continue to be grateful to a number of volunteers who give significant amounts of their time in maintaining the boats in good mechanical condition.
When planning our activities for the year the Charity has considered the Charity Commission's guidance on public benefit.
Page 4
The Safe Anchor Trust Ltd.
Report of the Trustees (continued)
Achievements, Performance and Public Benefit
During 2023 we operated 2 passenger boats each day. Several successful Friends and Family Weekends using 3 boats were also held. The popular 'Pirates Weekend' took place for the first time since pre-Covid. In support of The Castleford Heritage Trust, three boats travelled to and operated from Castleford during 10 days in June. Santa Special weekend was well attended and our environmental work continued throughout the year. During 2023 we ran 675 trips carrying 7161 passengers in total, who donated over £25000. These trips represented almost 2000 volunteer days. For comparison during 2022 we ran 640 trips carrying 6484 passengers in total, who donated over £22,000.
Organisations making use of our facilities range across the spectrum of age groups and sectors including:
Mental health Faith Groups All forms of disabilities Health recovery groups Youth and education Retirement/elderly Communities
We continued our work with the Canal and River Trust, assisting in the maintenance of the waterways in our local area. Our duties covered general maintenance including clearing footpaths and towpaths and cutting back undergrowth on the non towpath side. Over 1940 volunteer hours were worked over 109 days. We are looking to increase our involvement and commitment to environmental work during 2024. During the month of February 2024 we supported the Canal and River Trust 'Weedathon' national campaign with our workboat and manpower.
Towards the end of the season E Austen Johnson was temporarily withdrawn from service for some major repairs. Apart from this the season was completed without any serious incidents and the other boats remain in a good state of repair due to careful handling and ongoing maintenance. Our wonderful team of volunteers again worked tirelessly on the activities of the Charity.
Financial Review
Incoming resources amounted to £64,813 compared to £34,652 for 2022. The Charity's reserves remain in a healthy state and the Trustees are confident for the future.
The unrealised surplus on the Trust's Investment Portfolio managed by Castlefield Investments amounts to £1,724 this year (2022 deficit of £10,143). These figures are shown separately on the accounts and the total unrealised surplus carried forward is £18,058.
Resources expended increased this year from £44,529 in 2022 to £67,545 for 2023. This was caused by increasing boating activity after the Covid-19 pandemic and ongoing repair costs. Details are shown elsewhere in this report and in the notes to the accounts.
Page 5
The Safe Anchor Trust Ltd.
Report of the Trustees (continued)
Net outgoing resources amounted to £2,732 (2022 £9,877) leaving a balance to carry forward, after adjusting for unrealised income on our investment portfolio, of £278,517 (2022 £279,525).
The year ended with cash balances at the bank amounting to £124,683 (2022 £106,046).
We continue to be grateful to a number of individuals and organisations who regularly support us with very generous donations year after year.
Investment Powers and Policy
Under the terms of the Memorandum and Articles of Association, the Charity has the power to invest funds in such a manner as the Trustees may see fit. Having regard to liquidity requirements, the reserves policy and the substantial investment in refurbishing the boats, the Trustees have operated a policy of keeping available funds in interest bearing deposit accounts, or using reputable Investment Managers to advise and place monies in balanced objective, medium risk investments.
Reserves Policy
The Trustees, having reviewed the affairs and activities of the Charity, have determined that an amount approximately equivalent to one and a half times the Charity’s normal annual expenditure, excluding depreciation, be held in reserve in cash, in order to maintain a stable financial position. Based on expenditure of recent calendar years, (excluding 2020 and 2021 due to their exceptional nature) the amount so determined is £100,000.
Free Reserves at 31 December 2023, as represented by total Charity funds, less fixed assets and amounts representing restricted and designated funds, were £179,314 (2022 £176,901).
The Trustees do not have any concerns about the future situation.
Whilst existing cash balances are currently considered to be fully adequate, the Trustees continue to explore ways and means of raising funds, in addition to those raised by their existing activities, in order to achieve a level of resource necessary to fund the activities of the Charity and to maintain adequate reserves.
Plans for the Future
As with many other Charities, the national economic conditions affected the ability of businesses and individuals to donate. The income generated by the disposal of Lady Rhodes allowed an almost break even position this year. The Charity is financially sound and currently has sufficient resources to weather these difficult times.
Our wish is to continue and develop our present activities whilst making good use of our base at Shepley Bridge Marina. We will continue to build on the existing relationship with The Duke of Edinburgh Award Scheme and Kirklees MBC Young Peoples Scheme. We have maintained a good working relationship with the head tenant of Shepley Bridge Marina (Robinsons Cruisers Ltd) and fully intend for this to continue.
Plans to acquire a new boat which were suspended during the Covid pandemic, have been resurrected. We believe that we may have found a source to fund this project and whilst we are still in preliminary discussions, we are optimistic that this will be confirmed early in 2024. Two new Trustees, with specific engineering expertise, have been appointed in preparation for this project going ahead.
Page 6
The Safe Anchor Trust Ltd.
Report of the Trustees (continued)
Royal Yachting Association and Training
The Charity retains its status as an RYA Training Centre, which allows us to train and accredit our volunteers for the RYA Inland Waterways Helmsman and Crew Certificates.
During the year the Charity has trained 3 people on the RYA instructor course and 30 people did the RYA Emergency First Aid at Work course. Unfortunately there was no helmsman training due to the river levels in November and December but 10 volunteers completed the course in the previous year.
Trustees Responsibilities Relating to the Financial Statements
Company law requires the Trustees to prepare financial statements that give a true and fair view of the state of affairs of the Charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the Trustees are required to:
Select suitable accounting policies and then apply them consistently Make sound judgements and estimates that are reasonable and prudent Observe the methods and principles in the Charities SORP
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue its activities
The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the Charity, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiner
No members have requested an audit and as the incoming resources for the year are below £250,000 there is no requirement for an audit to be carried out. An independent examiner, Ms B Whiteley has carried out an independent review of these financial statements.
This report was approved by the Trustees on 22 April 2024
D A Himsley Chairman
Page 7
The Safe Anchor Trust Ltd.
Independent Examiners Report for the year ended 31 December 2023
I report to the Trustees on my examination of the accounts of The Safe Anchor Trust Ltd for the year ended 31 December 2023 which are set out on pages 8 to 14.
Responsibilities and basis of report
As the Charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your Charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
the accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102))
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ms B Whiteley 8 Sunhill, Fleets Lane, Rylstone, Skipton BD23 6NA
Dated 22nd April 2024
Page 8
The Safe Anchor Trust Ltd.
Statement of Financial Activities
For the year ended 31 December 2023
| Income From generated funds: Voluntary income, grants and donations Surplus on disposal of Canal Boat Lady Rhodes Investment income Total income Expenditure Charitable activities: Upkeep, maintenance and boating costs Marina facility costs Governance costs Total expenditure Net (Expenditure) / Income Transfers between funds Unrealised Gain /(Loss) on Investment Portfolio Net Movement of Funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds Restricted Funds Total 2023 Total 2022 Notes £ £ £ £ 3 42,048 4,000 46,048 34,195 17,288 17,288 0 3 1,477 1,477 457 60,813 4,000 64,813 34,652 4 49,433 49,433 29,530 4 14,343 14,343 11,639 4 3,769 3,769 3,360 67,545 67,545 44,529 2 (6,732) 4,000 (2,732) (9,877) 12 1,724 1,724 (10,143) (5,008) 4,000 (1,008) (20,020) 265,808 13,717 279,525 299,545 11 260,800 17,717 278,517 279,525 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Page 9
The Safe Anchor Trust Ltd.
Balance Sheet
31st December 2023
| Fixed Assets Tangible Assets Current Assets Stocks Debtors Cash at bank Investment Portfolio Liabilities: Creditors falling due within one year Net Current Assets Total Assets less current liabilities The Funds of The Charity Restricted fund Unrestricted funds: General Total Charity Funds |
Notes 5 8 9 6 10 12 11 |
2023 2022 £ £ 81,486 88,907 1,386 638 3,440 3,701 124,683 106,046 83,058 81,334 212,567 191,719 15,536 1,101 197,031 190,618 278,517 279,525 17,717 13,717 260,800 265,808 260,800 265,808 278,517 279,525 |
|---|---|---|
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. No members have required the Company to obtain an audit of its accounts for the year in question in accordance with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibility for:
(i) Ensuring the charitable company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006: and
(ii) Preparing accounts which give a true and fair view of the state of affairs of the charitable company as at the end of its financial year in accordance with Section 394 and 395 and which otherwise comply with requirements of the Companies Act 2006 relating to accounts, so far as applicable to the charitable company subject to the small companies regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'
These accounts were approved by the board of Trustees on 22nd April 2024 and signed on its behalf by
D A Himsley Chairman
The notes form part of these financial statements.
Page 10
The Safe Anchor Trust Ltd.
Notes to the Financial Statements 31st December 2023
1. Accounting Policies
(a) Basis of preparation
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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Safe Anchor Trust meets the definition of a public benefit entity under FRS 102.
(b) Income
All income is included in the financial statements on an accruals basis. Assets and other gifts in kind received for use by the Charity are recognised as Incoming Resources at their estimated value when receivable.
(c) Expenditure
Expenditure is recognised on the accruals basis:
Costs of generating funds comprise the costs associated with attracting income from fund raising activities.
Expenditure on Charitable activities comprises those costs incurred in the delivery of activities through the provision of services associated with the cruise and work boats.
Governance costs include those associated with meeting constitutional and statutory requirements and any costs linked to the strategic management of the Charity.
(d) Tangible fixed assets and depreciation
The work boat and the two cruise boats acquired from the Trustees of The Safe Anchor Trust on 1 January 2004 have been incorporated in these accounts at their original cost to the transferor together with the balance of accumulated depreciation. Depreciation is calculated on the straight line basis over a period of 10 years, from the date of the original acquisition by the transferor, with an assumed, periodically reviewed, residual value at the end of the 10[th] year. The Lady Rhodes which was acquired during the year ended 31 December 2005 and being no longer suitable for the Charities requirements was sold in October 2023 to a private buyer. The Safe Anchor Lady, which came into service in 2010 has been depreciated over periods of 10 years. The cost of refitting E Austen Johnson during 2019 and 2021, The Lady Victoria in 2013 and The Safe Anchor Lady in 2020 are being depreciated over a 10 year period on the straight line basis.
Audio visual equipment has now been written off over a period of 3 years from the date of its acquisition. Improvements to short leasehold premises and fixtures and fittings have been written off over the unexpired period of the lease which expired on 31 May 2014.
(e) Stocks
Stocks are included at the lower of cost and net realisable value.
(f) Upkeep and maintenance of boats
Expenditure on upkeep and maintenance of boats is charged as an operating expense in the year in which incurred.
Page 11
The Safe Anchor Trust Ltd.
Notes to the Financial Statements (continued)
(g) Investments
Investments are a form of basic financial instrument. Fixed asset investments are initially recognised at their transaction value and are subsequently measured at their fair value (market value) as at the balance sheet date. The Statements of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares are included in the Balance Sheet at the current market value quoted by the investment Managers.
(h) Fund Accounting
General unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. Restricted funds are funds subject to restriction conditions imposed by the providers of such funds or the purpose of an appeal. The purpose and use of restricted funds is set out in the notes to the financial statements. All income and expenditure is shown in the statement of Financial Activities.
2. Net Incoming Resources for the financial year are stated after charging:
| Trustee’s remuneration: Emoluments Retirement benefits Expenses Salaries and wages Social Security costs Other pension costs |
2023 2022 £ £ - - - - - - - - - - - - - - - - |
|---|---|
3. Income
Donations
Voluntary income, grants and donations received during the year are slowly continuing to increase in spite of the lasting effects of the pandemic and the general economic climate. We thank our generous benefactors for continuing to support us.
Investment Income
The realised income arising during the year was received from deposits with banks.
4. Charitable Expenditure:
| Upkeep, maintenance and other boating costs Repairs and maintenance Waterway licences Mooring fees Corporate clothing Costs of attending external events and other miscellaneous expenses Insurance Depreciation |
2023 2022 £ £ 25,739 6,046 4,286 3,774 6,507 6,507 390 226 913 1,096 4,677 4,960 6,921 6,921 49,433 29,530 |
|---|---|
Page 12
The Safe Anchor Trust Ltd.
Notes to the Financial Statements (continued)
| Marina Facility Costs Rent Heating and Lighting Governance Costs Ex gratia payment - independent accounts examiner Training Hospitality Printing, stationery and miscellaneous expenses IT and Website Costs |
2023 2022 £ £ 8,460 8,460 5,883 3,179 14,343 11,639 0 50 656 1,284 1,714 417 283 246 1,116 1,363 3,769 3,360 |
|---|---|
5. Tangible fixed assets
| 5.Tangible fixed assets | |||
|---|---|---|---|
| Boats | Audio Visual Equipment |
Fixtures and Fittings Improvem ents to Short Leasehold Premises Total |
|
| Cost | |||
| At 31 December 2022 | 420,009 | 4,253 | 8,381 46,389 479,032 |
| Additions | 4,212 | 0 | 0 0 4,212 |
| Disposals | (9,212) | (9,212) | |
| At 31 December 2023 | 415,009 | 4,253 | 8,381 46,389 474,032 |
| Depreciation | |||
| At 31 December 2022 | 331,102 | 4,253 | 8,381 46,389 390,125 |
| Depreciation on Disposals | (4,500) | (4,500) | |
| Charge for the year | 6,921 | 0 | 0 0 6,921 |
| At 31 December 2023 | 333,523 | 4,253 | 8,381 46,389 392,546 |
| Net Book Value | |||
| At 31 December 2023 | 81,486 | 0 | 0 0 81,486 |
| The written down value of individual boats | being as follows: | ||
| Cruise Boats: | |||
| Lady Victoria | 2,000 | ||
| E Austen Johnson | 21,701 | ||
| Safe Anchor Lady | 54,785 | ||
| Work Boat: | 78,486 | ||
| Lady Brenda | 3,000 | ||
| 81,486 |
6. Investment Portfolio
Proceeds from the sale of investments are retained by Castlefields to pay annual fees and for possible future investment, on a discretionary basis.
| Multi-Asset Funds Fixed Interest Funds Cash |
2023 2022 £ £ 81,603 77,997 0 0 1,455 3,337 83,058 81,334 |
|---|---|
Page 13
The Safe Anchor Trust Limited
Notes to the Financial Statements (continued)
7. Capital Commitments
Capital expenditure authorised or contracted for at 31 December 2023 was as follows;
| Authorised but not contracted for | NIL | (2022 NIL) | ||
|---|---|---|---|---|
| Authorised and contracted for | NIL | (2022 NIL) | ||
| 8.Stocks | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Fuel | 1,386 | 638 | ||
| 1,386 | 638 | |||
| 9.Debtors | ||||
| Prepayments and accrued income | 2023 £ 3,440 |
2022 £ 3,701 |
||
| Other debtors | 0 | 0 | ||
| 3,440 | 3,701 | |||
| 10.Creditors: amounts falling due within | one year | |||
| Accruals | 2023 £ 15,536 |
2022 £ 1,101 |
||
| 15,536 | 1,101 | |||
| 11.Reconciliation of Movement of Funds | ||||
| Balance at 31st December 2022 | Unrestricted Designated Restricted 2023 2023 2023 £ £ £ 265,808 0 13,717 |
Total 2023 £ 279,525 |
Total 2022 £ 299,545 |
|
| Net movement in funds for the year | (5,008) 0 4,000 |
(1,008) | (20,020) | |
| Balance at 31 December 2023 | 260,800 0 17,717 |
278,517 | 279,525 |
Page 14
The Safe Anchor Trust Ltd.
Notes to the Financial Statements (continued)
12. Restricted Funds
| New Cruise Boat Fund Replacement Boat Seating E Austen Johnson Internal Refit |
Balance 1 January 2023 Incoming Resources Resources Expended Balance 31 December 2023 12,814 0 0 12,814 0 4,000 0 4,000 903 0 0 903 13,717 4,000 0 17,717 |
|---|---|
13. Analysis of Assets and Liabilities
| Fixed Assets Tangible assets Improvements to leasehold property Current Assets Stocks Debtors Cash at bank Investment Portfolio Liabilities Current |
Unrestricted Restricted Total 2023 Total 2022 £ £ £ £ 81,486 0 81,486 88,907 81,486 0 81,486 88,907 1,386 0 1,386 638 3,440 0 3,440 3,701 106,966 17,717 124,683 106,046 83,058 0 83,058 81,334 194,850 17,717 212,567 191,719 15,536 0 15,536 1,101 £260,800 £17,717 £278,517 £279,525 |
|---|---|
14. Employees and Related Party Transactions
The Charity has no employees. All activities are undertaken and administrated by the Trustees and volunteers who receive no form of remuneration. There were related party transactions during the year as the company purchased goods and services amounting to £4,212 (2022 - nil) from Designarm (UK) Ltd T/A Mirfield Boat Company, a company in which Dean Duane Armitage has a controlling interest. These goods and services were purchased on an arms length basis. There were no amounts outstanding to or from the company at the year end (2022 - nil).
15. Obligations Under Land and Buildings Lease Rental Agreement
Robinsons Cruisers Ltd is the head tenant of Shepley Bridge Marina having been appointed by the Canal and River Trust.
16. Members Liability
The liability of the members of the Charity is limited to £10 in respect of each member.
17. Taxation
The Charity’s activities are exempt from taxation on income and chargeable gains to the extent that these are applied to its charitable objects. Value added tax is however included on all expenditure to which such tax is applicable.