**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