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2022-12-31-accounts

SWANSEA COMMUNITY BOAT TRUST COMPANY REGISTRATION NUMBER 05182266 FINANCIAL ACCOUNTS AS AT 31 DECEMBER 2022

SWANSEA COMMUNITY BOAT TRUST SWANSEA COMMUNITY BOAT TRUST
AS AT 31 DECEMBER 2022
CHARITY NUMBER 1105536
BUSINESS ADDRESS 29 Victoria Road
Waunarlwydd
Swansea
Great Britain
SA5 4SX
BANKERS The Co-operative Bank plc
P.O. Box 250
Delf House
Southway
Skelmersdale
ACCOUNTANTS Butterfield Morgan Limited
Chartered Accountants
Druslyn House
De La Beche Street
Swansea
SA1 3HJ

SWANSEA COMMUNITY BOAT TRUST AS AT 31 DECEMBER 2022

Directors Report Page 1 Accountants Report Page 2 Balance Sheet Page 3 Statement of Financial Activities Page 4 Notes to the Accounts Pages 5 and 6

SWANSEA COMMUNITY BOAT TRUST AS AT 31 DECEMBER 2022

The directors present herewith their annual report, together with the financial statements of the company for the year ended 31 December 2021.

RESULTS AND DIVIDENDS

The profit for the year was £13,511 ( 2021 : loss (£6,808) )

PRINCIPAL ACTIVITIES

The company's principal activity is to provide a community boat on the river Tawe for educational and cultural purposes.

DIRECTORS

The directors of the company during the period were :-

C.G. White J.A. Davies Resigned 10/11/2022 A. Green Resigned 10/11/2022 N.R. Bacon M. Whalley A.G. Brophy E. Davies R.J. Goodwin D.A. Lewis D.S. Wootton Resigned 10/11/2022 P. Northcott Resigned 10/11/2022 D. Hughes Appointed 10/11/2022

SMALL COMPANY

The directors' report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

By Order of the Board

Nick Bacon

Secretary

Page 1

ACCOUNTANTS' REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF SWANSEA COMMUNITY BOAT TRUST

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Swansea Community Boat Trust for the year ended 31 December 2022 set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Swansea Community Boat Trust, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Swansea Community Boat Trust and state those matters that we have agreed to state to the Board of Directors of Swansea Community Boat Trust, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Swansea Community Boat Trust and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Swansea Community Boat Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Swansea Community Boat Trust. You consider that Swansea Community Boat Trust is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Swansea Community Boat Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Butterfield Morgan Limited Chartered Accountants

Reporting Accountants

Druslyn House De La Beche Street Swansea SA1 3HJ

…......................................

Page 2

SWANSEA COMMUNITY BOAT TRUST BALANCE SHEET AS AT 31 DECEMBER 2022

FIXED ASSETS
Plant and machinery
Boat
CURRENT ASSETS
Stock
Debtors & prepayments
Cash at bank and in hand
CURRENT LIABILITIES
Creditors - amounts due within one year
NET CURRENT ASSETS
NET ASSETS
CREDITORS DUE AFTER MORE THAN ONE YEAR
Loan
Debentures
Financed by:
CAPITAL AND RESERVES
Profit and Loss Account		 £
£
£
£
11,817
14,867
114,008
124,370
125,825
139,237
1,000
550
3,816
4,142
41,284
31,641
46,100
36,333
99,723
116,179
(53,623)
(79,846)
72,202
59,391
(400)
(800)
(2,000)
(2,000)
69,802
56,591
£
£
69,802
56,591
69,802
56,591
2021
2020		 £
£
£
£
11,817
14,867
114,008
124,370
125,825
139,237
1,000
550
3,816
4,142
41,284
31,641
46,100
36,333
99,723
116,179
(53,623)
(79,846)
72,202
59,391
(400)
(800)
(2,000)
(2,000)
69,802
56,591
£
£
69,802
56,591
69,802
56,591
2021
2020
1,000
3,816
41,284
46,100
99,723
59,391
(800)
(2,000)
56,591
£
56,591
56,591

The notes on pages 5 to 6 form an integral part of the accounts.

For the financial period ended 31 December 2022 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requierments of sections 394 and 395 and which otherwise comply with the requirments of the Companies Act 2006 realting to accounts, so far as applicable to the company.

These financial stetements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board for issue on …......................

Nick Bacon

Signed on behalf of the board

N.R. Bacon

Page 3

SWANSEA COMMUNITY BOAT TRUST

STATEMENT OF FINANCIAL ACTIVITIES (PROFIT AND LOSS ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2022

Incoming resources
Donations, legacies and similar
incoming resources
Income from activities for
generating funds
Investment income
Other income
Total income
Resources used
Other expenditure :
Cost of activities for
charitable objectives
Support costs
Management and administration
Total expenditure
Net income/(expenditure) for the year
Funds brought forward
Total funds carried forward		 Restricted
General
Total
Total
Funds
Fund
Funds
Funds
2022
2022
2022
2021
£
£
£
£
9,021
1,873
10,894
11,435
51,055
51,055
23,570
0
0
0
2,000
2,000
14,632		 Restricted
General
Total
Total
Funds
Fund
Funds
Funds
2022
2022
2022
2021
£
£
£
£
9,021
1,873
10,894
11,435
51,055
51,055
23,570
0
0
0
2,000
2,000
14,632		 Restricted
General
Total
Total
Funds
Fund
Funds
Funds
2022
2022
2022
2021
£
£
£
£
9,021
1,873
10,894
11,435
51,055
51,055
23,570
0
0
0
2,000
2,000
14,632		 Restricted
General
Total
Total
Funds
Fund
Funds
Funds
2022
2022
2022
2021
£
£
£
£
9,021
1,873
10,894
11,435
51,055
51,055
23,570
0
0
0
2,000
2,000
14,632		 Restricted
General
Total
Total
Funds
Fund
Funds
Funds
2022
2022
2022
2021
£
£
£
£
9,021
1,873
10,894
11,435
51,055
51,055
23,570
0
0
0
2,000
2,000
14,632
9,021 54,928 63,949 49,637
5,619
45,119		 5,619
45,119
0		 1,822
54,623
0
0 50,738 50,738 56,445
9,021
4,190
142,083
(85,492)		 13,211
56,591		 (6,808)
63,399
151,104
(81,302)		 69,802 56,591

Page 4

SWANSEA COMMUNITY BOAT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Accounting convention

The accounts are prepared in accordance with applicable accounting standards using the historical cost convention, and reflect the requirements of the Statement of Recommended Practice Accounting for Charities.

The company has taken advantage of the exemption from preparing a cash flow statement conferred by Financial Reporting Standard No.1 on the grounds that it is a small company.

Turnover

Turnover relates to continuing operations.

Grants

Grant funding is recognised as income when the performance related conditions have been met and the trust has become entitled to the income. Income received in advance of performance related conditions being met is recognised as deferred income within creditors on the balance sheet and released to income as the conditions are met.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, Fittings & Equipment - 10% straight line method Boat - 5% straight line method Plant & Machinery - 10% straight line method

2. STAFF COSTS
The company's employment costs are given below:
Wages and salaries
Employers NI		 2022
£
13,682
0
13,682		 2021
£
18,779
0
18,779

The average number of persons employed during the period was 2.

Page 5

SWANSEA COMMUNITY BOAT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. FIXED ASSETS

Cost
As at 01.01.22
Addition
Disposals in the year
As at 31.12.22
Depreciation
As at 01.01.22
Charge for the year
Depn on Disposals
As at 31.12.22
Net book values
4. STOCK
Valued at the lower of cost and net realisable value
As at 31.12.22
5. CREDITORS:amounts falling due within one year
Taxation and Social Security
Other creditors
Deferred Income
6. CREDITORS:amounts falling due after one year
Debentures
City & County of Swansea Loan
7. GRANTS RECEIVABLE
Compact Fund
Environment Agency Splash Grant
Coalfields Regeneration Trust Grant
Landfill Tax Grants
Tesco Grant
Church Acts Grant		 2022
£
253,808
1,173
0
254,981
114,571
14,585
0
129,156
125,825
2022
£
1,000
1,000
2022
£
340

4,195
95,868
99,723
2022
£
2,000
400
2,400
2022
£
2,209
150
-
6,362
200
100
9,021		 2021
£
253,675
133
0		 2021
£
253,675
133
0
253,808
100,103
14,468
0
114,571
139,237
2021
£
650
650
- 2021
£
361
10,929
104,889
116,179
2021
£
2,000
800
2,800
2021
£
2,209
150
75
6,362
200
100
9,096

Page 6