SWANSEA COMMUNITY BOAT TRUST COMPANY REGISTRATION NUMBER 05182266 FINANCIAL ACCOUNTS AS AT 31 DECEMBER 2024
| SWANSEA COMMUNITY BOAT TRUST | SWANSEA COMMUNITY BOAT TRUST |
|---|---|
| AS AT 31 DECEMBER 2024 | |
| CHARITY NUMBER | 1105536 |
| BUSINESS ADDRESS | 29 Victoria Road |
| Waunarlwydd | |
| Swansea | |
| Wales | |
| 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 2024
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 2024
The directors present herewith their annual report, together with the financial statements of the company for the year ended 31 December 2024.
RESULTS AND DIVIDENDS
The profit for the year was £35,573 ( 2023 : profit £23,957)
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 N.R. Bacon M. Whalley A.G. Brophy E. Davies R.J. Goodwin D.A. Lewis D. Hughes M.S. Clayton
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 2024 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 2024
| 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 |
£ £ £ £ 5,935 8,939 93,284 103,646 99,219 112,585 1,125 1,050 6,253 4,948 113,240 70,197 120,618 76,195 88,505 93,021 32,113 (16,826) 131,332 95,759 0 0 (2,000) (2,000) 129,332 93,759 £ £ 129,332 93,759 129,332 93,759 2024 2023 |
£ £ £ £ 5,935 8,939 93,284 103,646 99,219 112,585 1,125 1,050 6,253 4,948 113,240 70,197 120,618 76,195 88,505 93,021 32,113 (16,826) 131,332 95,759 0 0 (2,000) (2,000) 129,332 93,759 £ £ 129,332 93,759 129,332 93,759 2024 2023 |
|---|---|---|
| 1,125 6,253 113,240 |
||
| 120,618 88,505 |
||
| 95,759 | ||
| 0 (2,000) |
||
| 93,759 | ||
| £ 93,759 |
||
| 93,759 |
The notes on pages 5 to 6 form an integral part of the accounts.
For the financial period ended 31 December 2024 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 2024
| 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 2024 2024 2024 2023 £ £ £ £ 29,841 3,168 33,009 11,834 75,467 75,467 62,203 0 0 0 0 0 0 |
Restricted General Total Total Funds Fund Funds Funds 2024 2024 2024 2023 £ £ £ £ 29,841 3,168 33,009 11,834 75,467 75,467 62,203 0 0 0 0 0 0 |
Restricted General Total Total Funds Fund Funds Funds 2024 2024 2024 2023 £ £ £ £ 29,841 3,168 33,009 11,834 75,467 75,467 62,203 0 0 0 0 0 0 |
Restricted General Total Total Funds Fund Funds Funds 2024 2024 2024 2023 £ £ £ £ 29,841 3,168 33,009 11,834 75,467 75,467 62,203 0 0 0 0 0 0 |
|---|---|---|---|---|
| 29,841 | 78,635 108,476 |
74,037 | ||
| 9,094 9,094 63,809 63,809 0 |
7,086 42,994 0 |
|||
| 0 | 72,903 72,903 |
50,080 | ||
| 29,841 5,732 35,573 161,025 (67,266) 93,759 |
23,957 69,802 |
|||
| 190,866 (61,534) 129,332 |
93,759 |
Page 4
SWANSEA COMMUNITY BOAT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024 2023 £ £ The company's employment costs are given below: - - Wages and salaries Employers NI 0 0 - -
The average number of persons employed including directors during the year was 9. (2023 : 9)
Page 5
SWANSEA COMMUNITY BOAT TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. FIXED ASSETS
| Cost As at 01.01.24 Addition Disposals in the year As at 31.12.24 Depreciation As at 01.01.24 Charge for the year Depn on Disposals As at 31.12.24 Net book values 4. STOCK Valued at the lower of cost and net realisable value As at 31.12.24 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 Community Changemakers Fund Landfill Tax Grants Tesco Grant Church Acts Grant The Swansea Bay Fund Postcode Communty Trust |
2024 £ 256,476 - 0 256,476 143,891 13,366 0 157,257 99,219 2024 £ 1,125 1,125 2024 £ 340 6,919 81,926 88,505 2024 £ 2,000 0 2,000 2024 £ 2,209 150 - 6,362 200 100 2,500 18,320 29,841 |
2023 £ 254,981 1,495 0 |
2023 £ 254,981 1,495 0 |
|
|---|---|---|---|---|
| 256,476 | ||||
| 129,156 14,735 0 |
||||
| 143,891 | ||||
| 112,585 | ||||
| 2023 £ 1,050 |
||||
| 1,050 | ||||
| - | - | 2023 £ 340 4,414 88,947 |
||
| 93,021 | ||||
| 2023 £ 2,000 0 |
||||
| 2,000 | ||||
| 2023 £ 2,209 150 900 6,362 200 100 - - |
||||
| 9,921 |
Page 6