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|---|---|---|---|
|Trustees'<br>report|||1-4|
|Independent<br>examiner's||report||
|Statement<br>of financial|activities||6-7|
|Balance sheet|||8-9|
|Notes to the financial|statements||10-22|





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|Current<br>financial year|||||||
|---|---|---|---|---|---|---|
|||Unrestricted<br>Unrestricted||Restricted|Total|Total|
|||funds|funds|funds|||
|||general|designated||||
||Notes|2021<br>E|2021|2021f|2021|2020<br>E|
|Donations<br>and legacies||54,813||250|55,063|7,659|
|Charitable<br>activities||72,474|||72,474|140,752|
|Other trading<br>activities||33,783|||33,783|50,972|
|Investments||280|||280|1,538|
|Other income||3,640|||3,640|8,106|
|Total income||164,990||250|165,240|209,027|
|Fundraising<br>activities||16,646||6,648|23,294|65,791|
|Charitable<br>activities||74,314|||74,314|89,371|
|Total resources expended||90,960||6,648|97,608|155,162|
|Net incoming/(outgoing)|resources||||||
|before transfers||74,030||(6,398)|67,632|53,865|
|Gross transfers<br>between|funds|(86,952)|78,701|8,251|||
|Net (expenditure)/income|forthe year/||||||
|Net movement<br>in funds||(12,922)|78,701|1,853|67,632|53,865|
|Fund balances at 1 April|2020|1,035,865|115,000|30,850|1,181,715|1,127,850|
|Fund balances at 31 March 2021||1,022,943|193,701|32,703|1,249,347|1,181,715|





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|Prior financial year|||||||
|---|---|---|---|---|---|---|
||||Unrestricted<br>Unrestricted||Restricted|Total|
||||funds|funds|funds||
||||general|designated|||
||||2020|2020|2020|2020|
|||Notes|E|||E|
|Donations<br>and legacies|||7,659|||7,659|
|Charitable<br>activities|||140,752|||140,752|
|Other trading<br>activities|||50,972|||50,972|
|Investments|||1,538|||1,538|
|Other income|||8,106|||8,106|
|Total income|||209,027|||209,027|
|Fundraising<br>activities|||60,915||4,876|65,791|
|Charitable<br>activities|||80,117||9,254|89,371|
|Total resources expended|||141,032||14,130|155,162|
|Net incomingl(outgoing)|resources before||||||
|transfers|||67,995||(14,130)|53,865|
|Gross transfers<br>between|funds||(95,000)|95,000|||
|Net (expenditure)/income|for the year/||||||
|Net movement<br>in funds|||(27,005)|95,000|(14,130)|53,865|
|Fund balances at 1 April|2019||1,062,870|20,000|44,980|1,127,850|
|Fund balances at 31 March 2020|||1,035,865|115,000|30,850|1,181,715|





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|||||2021||2020||
|---|---|---|---|---|---|---|---|
||||Notes|E||||
|Fixed assets||||||||
|Tangible assets|||13||1,933,056||1,975,313|
|Current assets||||||||
|Stocks|||14|13,997||16,768||
|Debtors|||15|12,662||||
|Cash at bank and|in|hand||355,700||260,143||
|||||382,359||276,911||
|Creditors: amounts||falling due within||||||
|one year|||17|(131,068)||(115,509)||
|Net current assets|||||251,291||161,402|
|Total assets less|current liabilities||||2,184,347||2,136,715|
|Creditors: amounts||falling due after||||||
|more than one year|||18||(935,000)||(955,000)|
|Net assets|||||1,249,347||1,181,715|
|Income funds||||||||
|Restricted funds<br>'|||20||32,703||30,850|
|nres<br>ed fund||||||||
|Designated<br>funds|||21|193,701||115,000||
|General unrestricted||funds||1,022,943||1,035,865||
||||||1,216,644||1,150,865|
|||||'|1,249,347||1,181,715|





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|4|Charitable<br>a||ctivities||||||
|---|---|---|---|---|---|---|---|---|
||||||Sailing|Expedition|Sailing|Total|
||||||courses and|feescourses<br>and||2020|
||||||fees||fees||
||||||2021||2020||
||||||E||||
||Sailing and course fees||||72,474|190|140,562|140,752|
|5|Other trading||activities||||||
||||||||2021|2020|
||Membership||subscriptions||||29,962|28,247|
||Fundraising|events||||||2,764|
||Shop income||||||3,821|19,961|
||Other trading||activities||||33,783|50,972|
|6|Investments||||||||
|||||||Unrestricted||Unrestricted|
||||||||funds|funds|
||||||||general|general|
||||||||2021|2020|
|||||||||E|
||Interest receivable||||||280|1,538|
|7|Other income||||||||
|||||||Unrestricted||Unrestricted|
||||||||funds|funds|
||||||||general|general|
||||||||2021|2020|
|||||||||E|
||Net gain on disposal oftangible|||fixed assets|||3,600|8,086|
||Other income||||||40|20|
||||||||3,640|8,106|





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||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds|funds||
||||general|||general|||
||||2021f|2021 .<br>F||2020<br>F|2020|2020|
|Fundraisin<br>an||ici|||||||
|Staging|fundraising||||||||
|events'|||78||78|1,764||1,764|
|~Tradin|costs||||||||
|Operating<br>club shop|||1,086||1,086|22,477|730|23,207|
|Sailing|course expenses||6,560|6,648|13,208|30,221|3,500|33,721|
|Support|costs||8,922||8,922|6,453|646|7,099|
|Trading|costs||16,568|6,648|23,216|59,151|4,876|64,027|
||||16,646|6,648|23,294|60,915|4,876|65,791|



## 

|||||Charitable|Charitable|
|---|---|---|---|---|---|
|||||activities|activities|
|||||2021|2020|
|||||E||
|Depreciation||and impairment||54,269|50,048|
|Share of|support costs (see note 10)|||11,265|31,505|
|Share of|governance||costs (see note 10)|8,780|7,818|
|||||74,314|89,371|
|Analysis|by|fund||||
|Unrestricted||funds -|general|74,314|80,117|
|Restricted|funds||||9,254|





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|10|Support||costs||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||2021|2021|2021|2020|2020|2020||
|||||Support|Governance|Total|Support|Governance|Total|Basis ofallocation|
|||||costs|costs||costs|costs|||
|||||6|9||f|6|||
||Bank charges|||2,050||2,050|5,052||5,052|Actual basis|
||Computer||costs|836||836|1,224||1,224|Actual basis|
||Printing,|postage and stationery||60||60|1,276||1,276|Actual basis|
||Rent &overheads|||4,592||4,592|12,239||12,239|Actual basis|
||Insurance|||8,839||8,839|6,979||6,979|Actual basis|
||Repair &||maintenance|3,716||3,716|5,409||5,409|Actual basis|
||First Aid|||83||83|120||120|Actual basis|
||Sundry|||11||11|1.333||1,333|Actual basis|
||Shop stock||||||4,972||4,972|Actual basis|
||Governing||body fess||224|224||726|726|Governance|
||Professional<br>fees||||8,556|8,556||7,092|7,092|Governance|
|||||20,187|8,780|28,967||7,818|46,422||
||Analysed||between||||||||
||Trading|||8,922||8,922|7,099||7,099||
||Charitable||activities|11,285|8,780|20,045|31,505|7,818|39,323||
|||||20,187|8,780|28,967|38,604|7,818|46,422||





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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||Number|Number|
||Total||||||||
|13|Tangible|fixed assets|||||||
||||||Leasehold||Fixtures,|Total|
||||||land &|fittings, boats|||
||||||buildings||&other||
||||||||equipmentf||
||Cost||||||||
||At 1 April|2020|||1,963,108||460,358|2,423,466|
||Additions||||11,657||355|12,012|
||Disposals||||||(29,610)|(29,610)|
||At 31 March||2021||1,974,765||431,103|2,405,868|
||Depreciation||and impairment||||||
||At 1 April|2020|||39,388||408,765|448,153|
||Depreciation||charged|in the year|40,855||13,414|54,269|
||Eliminated|in|respect ofdisposals||||(29,610)|(29,610)|
||At 31 March||2021||80,243||392,569|472,812|
||Carrying|amount|||||||
||At 31 March||2021||1,894,522||38,534|1,933,056|
||At 31 March||2020||1,923,720||51,593|1,975,313|
||The carrying||value of land is not known, the combined||value of land and buildings||comprises:||
||||||||2021|2020|
||||||||f||
||Long leasehold||||||1,894,522|1,923,720|





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|14|Stocks||||||
|---|---|---|---|---|---|---|
|||||2021||2020|
|||||F|||
||Finished|goods and goods for resale||13,997||16,768|
|15|Debtors||||||
|||||2021||2020|
||Amounts|falling due within one year:|||||
||Trade debtors|||3,150|||
||Other debtors|||1,940|||
||Prepayments||and accrued income|7,572|'||
|||||12,662|||
|16|Loans and overdrafts||||||
|||||2021f||2020<br>E|
||Concessionary||loans|955,000||975,000|
||Payable|within|one year|20,000||20,000|
||Payable|after|one year|935,000||955,000|
||Amounts|induded<br>above which fall due after five years:|||||
||Payable|by instalments||855,000||875,000|





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|17|Creditors: amounts|Creditors: amounts|falling due within one year||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|||||Notes|||
||Concessionary|loans|||20,000|20,000|
||Deferred income|||19|31,620|14,338|
||Trade creditors||||70,542||
||Other creditors||||3,106|74,371|
||Accruals and deferred||income||5,800|6,800|
||||||131,068|115,509|



||Other<br>creditors<br>indudes|Other<br>creditors<br>indudes|a retention<br>of approximately|a retention<br>of approximately|a retention<br>of approximately|FNil|(2020: f63,000)|deducted|from the charity's|from the charity's|
|---|---|---|---|---|---|---|---|---|---|---|
||building<br>contractor's|invoices which||is payable|on completion||offinal works.||||
|18|Creditors: amounts|falling due after more than one||||year|||||
||||||||||2021|2020|
||Concessionary<br>loans|||||||935,000||955,000|
|19|Deferred income||||||||||
||||||||||2021|2020f|
||Arising from deferred|membership<br>and course|||||||||
||fee income|||||||31,620||14,338|
|20|Restricted funds||||||||||



|||||Movement|Movement|in funds|||
|---|---|---|---|---|---|---|---|---|
||Balance at|Resources|Balance at|Incoming|Resources||Transfers|Balance at|
||1April 2019|expended|1 April 2020|resources|expended|||31 March 2021|
|Covenant|||||||||
|fund|19,980|(14,130)|5,850|||(6,648)|8,251|7,453|
|Building|||||||||
|Project fund|25,000||25,000|250||||25,250|
||44,980|(14,130)|30,850|250||(6,648)|8,251|32,703|





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||||||'Balance at|Transfers|Balance at|Transfers|Balance at|
|---|---|---|---|---|---|---|---|---|---|
||||||1 April 2019||1 April 2020||31 March 2021|
||||||E|E||||
|Building<br>fund||||||100,000|100,000|20,000|120,000|
|Asset Replenishment|||fund||20,000|(5,000)|15,000||15,000|
|Contingency|reserve fund|||||||20,000|20,000|
|Pico Fleet Replacement||||fund||||25,000|25,000|
|Site improvement||fund||||||13,701|13,701|
||||||20,000|95,000|115,000|78,701|193,701|





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|22|Analysis of net assets between funds|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||Unrestricted|Designated|Restricted|Total|Unrestricted|Designated|Restricted|Total|
|||2021|2021|2021|2021|2020|2020|2020|2020|
|||6||6||6|F|6|f|
||Fund balances at 31 March 2021 are represented|||||||||
||by:|||||||||
||Tangible assets|1,933,056|||1,933,056|1,975,313|||1,975,313|
||Current assetsl(liabilities)|24,887|193,701|32,703|251,291|15,552|115,000|30,850|161,402|
||Long term liabilities|(935,000)|||(935,000)|(955,000)|||(955,000)|
|||1,022,943|193,701|32,703|1,249,347|1,035,865|115,000|30,850|1,181,715|





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|<br>   <br> <br>under non-cancellable<br>operating<br>leases, which fall due|as follows:||
|---|---|---|
||2021|2020f|
|Within one year|3,000|3,000|
|Between two and five years|12,000|12,000|
|In over five years|126,000|129,000|
||141,000|144,000|