## **The Safe Anchor Trust Limited** **(Limited by Guarantee)** **Financial Statements 31 December 2024 Together with Trustees and Independent Examiner's reports** **Company Registered number: 04700044** **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 2024** The Trustees present their report together with the financial statements of the Charity for the year ended 31st December 2024. 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:** 04700044 ## **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 Mrs Christine Margaret Clark (resigned 11 November 2024) Mr Stanley McIlheron Hardy (resigned 18 January 2024) Mr David Alexander Himsley Mrs Laura Moore Mr Kevin Musgrave Mr Kevin Arthur Sharp (resigned 18 January 2024) Ms Paula Michelle Sherriff (resigned 14 July 2025) Mr Kevin Gordon Thorburn Mr Jeffrey David Trigg Mr John Steven Whitelock (resigned 19 May 2025) Mr Brian Rogerson (appointed 11 November 2024) ## **Secretary** Mr Jeffrey David Trigg **Page 2** **The Safe Anchor Trust Limited** ## **Report of the Trustees (continued)** ## **Registered Office** Gresham House, 5-7, St. Pauls Street, Leeds, England, LS1 2JG ## **Independent Accounts Examiner** Ms R Taylor, 400 Scar Lane, Golcar, Huddersfield, HD7 4AR ## **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. Mrs Christine Margaret Clark, Mr Stanley McIlheron Hardy, Mr Dean Duane Armitage and Mr Kevin Arthur Sharp resigned during the year and since the year end Mr John Steven Whitelock and Ms Paula Michelle Sherriff have also resigned. We are grateful to them all for the service they have given to the Charity. We welcome Mr Brian Rogerson to the Board who brings 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 Brian Rogerson, Kevin Gordon Thorburn, David Alexander Himsley and Jeffrey David Trigg. 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. 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. Volunteer recruitment, Health and Safety, crew training and boat maintenance are carried out throughout the year. We continue to be grateful to a core of volunteers who give significant amounts of their time to the operation of the charity, volunteer recruitment, training, operational management and continuous boat maintenance. 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 the 2024 season we operated 2 boats each day carrying 7,564 passengers providing 721 trips for our passenger groups and communities, representing over 2,221 volunteer days. This year we achieved an income in excess of £47,000. Several weekends and bank holiday open days were held when 3 boats were used to provide free trips for the community, friends and families. The popular 'Pirates Weekend' took place again and in support of The Castleford Heritage Trust, three boats travelled to and operated from Castleford during 10 days in June The Santa Special community weekend was well attended and our environmental work on our adopted section of the local canal continued throughout the year working in conjunction with several local groups and the Canal and River Trust. 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 1703 volunteer hours were worked over 103 days. The team were able to open up the river footpath from Greenwood to Calder Road, planted over 1,000 daffodils and were awarded a grant of £5,000 for their work. The team again supported the Canal and River Trust 'Weedathon' national campaign with our workboat and manpower. We are looking to increase our involvement and commitment to environmental work during 2024. The season was completed without any serious incidents and the 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 £56,527 compared to £64,813 for 2023. 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 £1,596 this year (2023 surplus of £1,724). These figures are shown separately on the accounts and the total unrealised surplus carried forward is £19,654. Resources expended increased this year from £67,545 in 2023 to £71,330 for 2024. This was caused by the introduction of lifejackets during the year and the additional service cost. Details of the expenditure 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 £14,803 (2023 £2,732) leaving a balance to carry forward, after adjusting for unrealised income on our investment portfolio, of £265,310 (2023 £278,517). The year ended with cash balances at the bank amounting to £101,213 (2023 £124,683 ). 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 2024, as represented by total Charity funds, less fixed assets and amounts representing restricted and designated funds, were £172,758 (2023 £179,314). The Trustees do not have any concerns about the future situation. These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the Charity for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the Charity to continue as a going concern 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 in the prior year. The Charity is financially sound and currently has sufficient resources to weather these unprecedented times. Our wish is to continue and develop and improve our present activities and to reach out to additional passenger groups 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. As with other charities, not all volunteers returned after Covid making it a challenge to crew all the trips to satisfy the demand. A recruitment plan has been prepared and implemented to increase the number of trained volunteer crew. **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 and an Emergency First Aid at Work course. During the year the Charity has trained 3 people to become RYA instructors, we have continued to provide helmsman training and are developing a follow-on training course in conjunction with the local Fires and Rescue Service to cover emergency situations such as man overboard. ## **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 R Taylor has carried out an independent review of these financial statements. This report was approved by the Trustees on 14 July 2025. ## _David Himsley_ Chairman **Page 7** **The Safe Anchor Trust Ltd.** ## **Independent Examiners Report for the year ended 31 December 2024** I report to the Trustees on my examination of the accounts of The Safe Anchor Trust Ltd for the year ended 31 December 2024 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 R Taylor_ Dated 5 July 2025 **Page 8** ## **The Safe Anchor Trust Ltd.** ## **Statement of Financial Activities** ## **For the year ended 31 December 2024** |**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 2024**
**Total 2023**
**Notes**
**£**
**£**
**£**
**£**
3
55,190
-
55,190
46,048
-
-
-
17,288
3
1,337
-
1,337
1,477
56,527
-
56,527
64,813
4
51,106
-
51,106
49,433
4
13,826
-
13,826
14,343
4
6,398
-
6,398
3,769
71,330
71,330
67,545
2
(14,803)
-
(14,803)
(2,732)
12
1,596
-
1,596
1,724
(13,207)
-
(13,207)
(1,008)
260,800
17,717
278,517
279,525
11
247,593
17,717
265,310
278,517| |---|---| 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 2024**
**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|**2024**
**2023**
**£**
**£**
74,835
81,486
283
1,386
6,309
3,440
101,213
124,683
83,816
83,058
191,621
212,567
1,146
15,536
190,475
197,031
265,310
278,517
17,717
17,717
247,593
260,800
247,593
260,800
265,310
278,517| |---|---|---| For the year ended 31 December 2024 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 14 July 2025 and signed on its behalf by ## _David Himsley_ Chairman The notes form part of these financial statements. **Page 10** **The Safe Anchor Trust Ltd.** **Notes to the Financial Statements** ## **31st December 2024** ## **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 remaining 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 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|**2024**
**2023**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-| |---|---| ## **3. Income** ## **Donations** Voluntary income, grants and donations received during the year are slowly continuing to increase in spite of 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
Lifejackets|**2024**
**2023**
**£**
**£**
25,136
25,739
3,537
4,286
6,507
6,507
127
390
1,500
913
4,570
4,677
6,651
6,921
3,078
-
51,106
49,433| |---|---| **Page 12** ## **The Safe Anchor Trust Ltd.** ## **Notes to the Financial Statements (continued)** |**Marina Facility Costs**
Rent
Heating and Lighting
Repairs
Depreciation
**Governance Costs**
Ex gratia payment - independent accounts examiner
Training
Hospitality
Printing, stationery and miscellaneous expenses
IT and Website Costs|**2024**
**2023**
**£**
**£**
8,919
8,460
4,907
5,883
-
-
-
-
13,826
14,343
-
-
2,161
656
2,254
1,714
969
283
1,014
1,116
6,398
3,769| |---|---| ## **5. Tangible fixed assets** |**5.Tangible fixed assets**|||| |---|---|---|---| ||**Boats**|**Audio Visual**
**Equipment**|**Fixtures and**
**Fittings**
**Improvements to**
**Short Leasehold**
**Premises**
**Total**| |**Cost**
At 31 December 2023
Additions
Disposals
At 31 December 2024
**Depreciation**|415,009
-
-
415,009|4,253
-
-
4,253|8,381
46,389
474,032
-
-
-
-
-
-
8,381
46,389
474,032| |At 31 December 2023|333,523|4,253|8,381
46,389
392,546| |Depreciation on Disposals|-|-|-
-
-| |Charge for the year|6,651|-|-
-
6,651| |At 31 December 2024|340,174|4,253|8,381
46,389
399,197| |**Net Book Value**|||| ||||| |At 31 December 2024|74,835|-|-
-
74,835| ||||| |At 31 December 2023|81,486|-|-
-
81,486| |The written down value of individual boats being as follows:|||| |Cruise Boats:|||| |Lady Victoria||2,000|| |E Austen Johnson||20,744|| |Safe Anchor Lady||49,091|| |Work Boat:||71,835|| |Lady Brenda||3,000|| |||74,835|| ## **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
Cash|**2024**
**2023**
**£**
**£**
80,781
81,603
3,035
1,455
83,816
83,058| |---|---| **Page 13** ## **The Safe Anchor Trust Limited** ## **Notes to the Financial Statements (continued)** ## **7. Capital Commitments** **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |2024|2023| |Capital expenditure authorised or contracted for at 31 December 2024 was as follows;|£|£| |Authorised but not contracted for|-|-| |Authorised and contracted for|-|-| |-|-| |8. Stocks| |2024|2023| |£|£| |Fuel|283|1,386| |283|1,386| |9. Debtors| |2024|2023| |£|£| |Prepayments and accrued income|6,309|3,440| |Other debtors|-|-| |6,309|3,440| |10. Creditors: amounts falling due within one year| |2024|2023| |£|£| |Accruals|1,146|15,536| |1,146|15,536| |11. Reconciliation of Movement of Funds| |Unrestricted|Designated|Restricted|Total|Total| |2024|2024|2024|2024|2023| |£|£|£|£|£| |Balance at 31st December 2023|260,800|-|17,717|278,517|279,525| |-|-| |Net movement in funds for the year|(13,207)|(13,207)|(1,008)| |Balance at 31 December 2024|247,593|-|17,717|265,310|278,517| **----- End of picture text -----**
**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
**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|**Balance 1**
**January 2024**
**Incoming**
**Resources**
**Resources Expended**
**Balance 31 December**
**2024**
12,814
-
-
12,814
4,000
-
-
4,000
903
-
-
903
17,717
-
-
17,717
**Unrestricted**
**Restricted**
**Total 2024**
**Total 2023**
**£**
**£**
**£**
**£**
74,835
-
74,835
81,486
-
-
-
-
74,835
-
74,835
81,486
283
-
283
1,386
6,309
-
6,309
3,440
83,496
17,717
101,213
124,683
83,816
-
83,816
83,058
173,904
17,717
191,621
212,567
1,146
-
1,146
15,536
247,593
17,717
265,310
278,517| |---|---| ## **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 £nil (2023 - £4,212) from Designarm (UK) Ltd T/A Mirfield Boat Company, and £25,257 (2023 - £nil) from Boat Factory Limited - both company's 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 (2023 - £nil). Dean Duane Armitage resigned during the financial year. ## **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.