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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1110757

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

YORKSHIRE DALES SAILING CLUB

YORKSHIRE DALES SAILING CLUB

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 15
Detailed Statement of Financial Activities 16 to 17

YORKSHIRE DALES SAILING CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the club is to promote and facilitate community participation in healthy recreation by providing facilities for sailing, windsurfing and non-powered water sports. As a result the Trustees regard this to be for the public benefit.

Significant activities

The club managed to fund several large projects in the year:

Public benefit

In planning the activities for the year the Trustees have paid due regard to The Charity Commissions guidance on public benefit. In particular they are continually looking at ways to promote the club's activities within both the local and wider community including through schools, clubs and other organisations. The charity hosts various open meetings and events per year.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

There were notable achievements by our youth who managed success away from the club:

Page 1

YORKSHIRE DALES SAILING CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

FINANCIAL REVIEW

Financial position

The main regular source of income of the club is from its member's subscriptions which in 2022, including Gift Aid reclaimable, amounted to £96,180 (2021: £87,576). In addition, it received grants and donations totalling £22,231 (2021: £37,810).

Expenditure on charitable activities including allocated support and governance costs in the year amounted to £106,858 (2021: £100,682). The costs of raising funds including allocated support and governance costs amounted to £20,878 (2021: £27,340).

Overall, the club had income in excess of expenditure in the year of £4,708 (2021: £13,918).

The club had total unrestricted funds of £571,106 as at 31 December 2022 (2021: £566,398). Of the accumulated unrestricted funds, £340,943 (2021: £354,056) represents a designated fund in connection with the New Boathouse, which is being released to the members general fund on an annual basis, in equal instalments over the remaining period of the underlying lease.

Reserves policy

Free reserves, which are considered to equate to net current assets in the accounts, totalled £35,129 at the year end, of which £38,229 is represented by cash and bank balances. The Trustees consider free reserves need to be maintained at a level sufficient to meet essential annual establishment, maintenance and capital costs to enable the Club to continue to provide its activities each year and continue to aim to meet that level of free reserves.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The Yorkshire Dales Sailing Club is unincorporated and is governed by its constitution, as amended on 12 March 2008, which was originally adopted on 24 January 2005. It became a registered charity on 8 August 2005.

Organisational structure and Decision Making

The Management Committee which meets at least every two months is responsible for managing the affairs of the club in accordance with its rules and constitution. The Management Committee consists of the Officers, ex officio and not less than four Full or Family members of the club elected at the Annual General Meeting each year to hold office until the termination of the next following Annual General Meeting.

The officers of the club consist of a Commodore, a Vice-Commodore, a Rear-Commodore, an Honorary Secretary and an Honorary Treasurer. They are Full or Family members of the Club and are elected at the Annual General Meeting each year and hold office for one year, retiring at the termination of the next following Annual General Meeting. All Officers of the Club are eligible for re-election.

Whilst the election of the Officers and Members of the Management Committee is by the Members at the Annual General Meeting if for any reason a casual vacancy occurs, the Management Committee may co-opt a Full or Family member to fill such a vacancy until the next following Annual General Meeting.

The Trustees of the club are appointed by the Management Committee from the Full, Family or Honorary Members who are willing to be so appointed. A Trustee holds office during their lifetime or until they resign by notice in writing to the Management Committee, or until a resolution removing them from office shall be passed at a meeting of the Management Committee by a majority comprising two thirds of the Members present and entitled to vote.

Page 2

YORKSHIRE DALES SAILING CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1110757

Principal address 23 Fennell Grove Ripon North Yorkshire HG4 2TE

Trustees Philip Whitehead Andrew Graham Straton Keith Duncan Escritt Jonathan Lister Mike Saul

Independent Examiner Gavin Bell BA ACA Sedulo Leeds Limited St Paul's House 23 Park Square Leeds West Yorkshire LS1 2ND

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.................................................................... Philip Whitehead - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YORKSHIRE DALES SAILING CLUB

Independent examiner's report to the trustees of Yorkshire Dales Sailing Club

I report to the charity trustees on my examination of the accounts of Yorkshire Dales Sailing Club for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Gavin Bell BA ACA Sedulo Leeds Limited St Paul's House 23 Park Square Leeds West Yorkshire LS1 2ND

Date: .............................................

Page 4

YORKSHIRE DALES SAILING CLUB

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
118,411
Charitable activities
Charitable activities
1,757
Other trading activities
3
12,151
Investment income
4
125
Total
132,444
EXPENDITURE ON
Raising funds
6
20,878
Charitable activities
7
Charitable activities
106,858
Total
127,736
NET INCOME
4,708
RECONCILIATION OF FUNDS
Total funds brought forward
566,398
TOTAL FUNDS CARRIED FORWARD
571,106		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
100
100		 2022
Total
funds
£
118,411
1,757
12,151
125
132,444
20,878
106,858
127,736
4,708
566,498
571,206		 2021
Total
funds
£
125,386
377
16,169
8
141,940
27,340
100,682
128,022
13,918
552,580
566,498

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 5

YORKSHIRE DALES SAILING CLUB

BALANCE SHEET 31 DECEMBER 2022

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Stocks
11
Debtors
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year 14
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
589,520
660
23,510
38,229
62,399
(27,370)
35,029
624,549
(53,443)
571,106		 Restricted
fund
£
-
-
-
100
100
-
100
100
-
100		 2022
Total
funds
£
589,520
660
23,510
38,329
62,499
(27,370)
35,129
624,649
(53,443)
571,206
571,106
100
571,206		 2021
Total
funds
£
592,150
550
20,565
47,634
68,749
(25,952)
42,797
634,947
(68,449)
566,498
566,398
100
566,498

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Philip Whitehead - Trustee

The notes form part of these financial statements

Page 6

YORKSHIRE DALES SAILING CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling £, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of signing these accounts the Trustees are of the opinion that the Charity will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Income

All income is recognised in the statement of financial activities in the year in which it is receivable. This is when the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Grants receivable which are conditional are only recognised in the statement of financial activities when the conditions attaching to them have been met and the charity becomes unconditionally entitled thereto.

Donated assets are included at their estimated value to the charity when received, being the price it estimates that it would have to pay for them in the open market.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is allocated to a particular activity where it relates directly to that activity. Where expenditure, including support and governance costs, cannot be directly attributed to a particular activity it has been allocated to activities on a basis consistent with the use of the resources and the time spent on each activity.

Expenditure on raising funds comprises of those costs incurred in attracting voluntary income and includes both direct costs and support and governance costs apportioned thereto.

Expenditure on charitable activities comprises of the costs incurred by the charity in the delivery of its activities and includes both direct costs and support and governance costs apportioned to those activities.

Support costs are those costs that whilst necessary to deliver an activity, do not themselves produce or constitute the output of the charitable activity. In the main support costs comprise of general management, finance and administration costs.

Page 7

continued...

YORKSHIRE DALES SAILING CLUB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES - continued

Governance costs are those costs associated with the governance arrangements of the charity and are primarily associated with meeting its constitutional and statutory requirements.

Tangible fixed assets and depreciation

Fixed assets are stated at cost less accumulated depreciation. In the case of the new boathouse cost includes those costs incurred in arranging finance to fund the construction.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

New boathouse - on straight line basis over remainder of 40 year lease term New boathouse furniture, equipment, fixtures & fittings - 10% on reducing balance Vehicles - 20% on reducing balance

Boats and equipment - 20% on reducing balance

Stocks

Stock is included at the lower of cost or net realisable value.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds are incoming resources receivable or generated for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Financial instruments

Financial assets and liabilities are recognised at the amounts expected to be received or paid in their settlement. In the case of the bank loan the amount payable is considered to represent the fair value of the loan.

Page 8

continued...

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

2.
DONATIONS AND LEGACIES
Members subscriptions
Gift Aid
Grant and donations
3.
OTHER TRADING ACTIVITIES
Galley and catered events
Sale of calendars, Christmas cards and miscellaneous
4.
INVESTMENT INCOME
UK bank interest and other interest		 2022
£
74,027
22,153
22,231
118,411
2022
£
11,597
554
12,151
2022
£
125		 2021
£
71,395
16,181
37,810
125,386
2021
£
15,589
580
16,169
2021
£
8

Page 9

continued...

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

5. INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
2022 2021
£ £
Day sailing fees and equipment hire 1,757 377

The club does not charge entry fees in respect of open events but invites participants to make a donation to the club. Such donations received are included within unrestricted donations per note 2.

6. RAISING FUNDS

Raising donations and legacies

Galley costs
Other event costs
Allocation of governance and support costs		 2022
£
5,920
12,253
2,705
20,878		 2021
£
20,348
4,219
2,773
27,340

7.

CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Charitable activities 106,858

Included in Charitable expenditure are governance and other support costs totalling £4,882 (2021: £4,439).

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

During the year, a total of £127 was paid to 1 trustee for the reimbursement of expenses (2021: NIL).

Page 10

continued...

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

9. STAFF COSTS AND NUMBERS

The charity had no employees during the year (2021 - NIL)

10. TANGIBLE FIXED ASSETS

COST
At 1 January 2022
Additions
Disposals
At 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
Eliminated on disposal
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021		 Boathouse
£
758,619
8,073
-
766,692
234,268
19,073
-
253,341
513,351
524,351		 Furniture,
equipment,
fixtures
& fittings
£
68,304
10,177
-
78,481
31,124
4,291
-
35,415
43,066
37,180		 Motor
vehicles
£
2,925
1,800
(1,725)
3,000
882
351
(467)
766
2,234
2,043		 Boats and
equipment
£
114,897
8,008
(700)
122,205
86,321
5,715
(700)
91,336
30,869
28,576		 Totals
£
944,745
28,058
(2,425)
970,378
352,595
29,430
(1,167)
380,858
589,520
592,150

The boathouse was constructed on land owned by Yorkshire Water, over which a forty-year lease was granted to the Club in December 2008.

11. STOCKS

Miscellaneous stock

2022 2021 £ £ 660 550

Page 11

continued...

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 15)
Other creditors
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 15)
Other creditors
15.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Other loans
Amounts falling over one year:
Bank loans - 1-2 years
Bank loans – 2-5 years
Bank loans – over 5 years
Other loans - 1-2 years		 2022
£
1,182
22,328
23,510
2022
£
12,915
14,455
27,370
2022
£
53,443
-
53,443
2022
£
12,915
2,500
15,415
12,996
39,227
1,220
-
53,443		 2021
£
1,183
19,382
20,565
2021
£
12,916
13,036
25,952
2021
£
65,949
2,500
68,449
2021
£
12,916
2,500
15,416
12,996
39,227
13,726
2,500
68,449

Page 12

continued...

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16. SECURED DEBTS

The following secured debts are included within creditors:

Bank loans 2022
£
66,358		 2021
£
78,865

The bank loan represents a mortgage loan secured on the charity’s leasehold property. The loan is repayable in quarterly instalments, which commenced on 1 June 2010, over a period of nineteen years. Additional repayments have been made in previous years, which will ultimately result in the loan being repaid over a shorter period. Interest on this loan is payable at the rate of 1.5% over base.

17. MOVEMENT IN FUNDS

Unrestricted funds
Members general fund
Boathouse (Club Development)
Boathouse major repair and
refurbishment
Sponsorship of Members
Restricted funds
Helping underprivileged children to sail
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
Members general fund
Boathouse (Club Development)
TOTAL FUNDS		 At 1.1.22
£
201,342
354,056
10,000
1,000
566,398
100
566,498
Incoming
resources
£
132,444
-
132,444
132,444		 Net
movement
At
in funds
31.12.22
£
£
17,821
219,163
(13,113)
340,943
-
10,000
-
1,000
4,708
571,106
-
100
4,708
571,206
Resources
Movement
expended
in funds
£
£
(114,623)
17,821
(13,113)
(13,113)
(127,736)
4,708
(127,736)
4,708

Page 13

continued...

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Members general fund
Boathouse (Club Development)
Boathouse major repair and
refurbishment
Sponsorship of Members
Restricted funds
Helping underprivileged children to sail
TOTAL FUNDS		 At 1.1.21
£
174,311
367,169
10,000
1,000
552,480
100
552,580		 Net
movement
in funds
£
27,031
(13,113)
-
-
13,918
-
13,918		 At
31.12.21
£
201,342
354,056
10,000
1,000
566,398
100
566,498

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Members general fund
Boathouse (Club Development)
TOTAL FUNDS		 Incoming
resources
£
141,940
-
141,940
141,940		 Resources
Movement
expended
in funds
£
£
(114,909)
27,031
(13,113)
(13,113)
(128,022)
13,918
(128,022)
13,918

The General fund represents unrestricted funds, which the trustees are free to use in accordance with the objects of the club.

The Designated Boathouse (Club development) fund represents amounts set aside by the Trustees to fund the development cost of the club including the construction costs of the new boathouse which was completed and brought into use in 2009. The fund is reduced on a straight-line basis in accordance with the depreciation policy applied thereon by an annual transfer to the members general fund so as to in effect defray in part the annual depreciation charge on the building

The Designated Boathouse major repair and refurbishment fund represents amounts set aside by the Trustees to fund longer term repairs and refurbishment required to the boathouse.

Page 14

continued...

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

17. MOVEMENT IN FUNDS - continued

The Designated Sponsorship of members fund represents amounts set aside by the Trustees to sponsor members and in particular youth members competing in major international sailing events.

The Restricted fund represents the balance of monies received for specified purposes which fund the costs of helping underprivileged children to sail.

18. OTHER FINANCIAL COMMITMENTS

Operating leases:

In December 2008 the club entered into a forty-year lease with Yorkshire Water, in respect of the land on which the new boathouse has been constructed. Rent is paid for use of the land in the sum of £1,970 per annum (2021: £1,970).

19. RELATED PARTY DISCLOSURES

Various purchases totalling £5,716 (2021: £2,223) were made in the year from Mike Saul Dinghy Services a business owned by Mike Saul who is a member and Trustee of the Club. Apart from a discount received all such transactions were on normal commercial terms.

Page 15

YORKSHIRE DALES SAILING CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

INCOME AND ENDOWMENTS
Donations and legacies
Members subscriptions
Gift Aid
Grant and donations
Other trading activities
Galley and catered events
Sale of calendars, Christmas cards and
miscellaneous
Investment income
UK bank interest and other interest
Charitable activities
Day sailing fees and equipment hire
Total incoming resources
EXPENDITURE
Raising donations and legacies
Galley costs
Other event costs
Allocation of governance and support costs
Charitable activities
Rent - use of reservoir
Insurance
Petrol and oil
Cleaning and Waste Disposal
Rates and water
Maintenance - boats and sail
Light and heat
Safety boat cover
Carried forward		 2022
£
74,027
22,153
22,231
118,411
11,597
554
12,151
125
1,757
132,444
5,920
12,253
2,705
20,878
1,970
7,858
5,770
6,585
3,225
12,326
8,108
4,003
49,845		 2021
£
71,395
16,181
37,810
125,386
15,589
580
16,169
8
377
141,940
20,348
4,219
2,773
27,340
1,970
7,057
2,753
5,743
1,577
11,318
6,514
653
37,585

This page does not form part of the statutory financial statements

Page 16

YORKSHIRE DALES SAILING CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Charitable activities
Brought forward
Prizes and awards
RYA subscriptions
Training and courses
Depreciation of tangible fixed assets
(Profit)/loss on sale of tangible fixed assets
Maintenance - Property & Equip
Licences
Bank interest
Allocation of governance and other support
costs
Total resources expended
Net income		 2022
£
49,845
2,681
1,375
15,881
29,431
108
569
-
2,086
4,882
106,858
127,736
4,708		 2021
£
37,585
654
1,572
13,543
29,953
(31)
11,233
140
1,594
4,439
100,682
128,022
13,918

This page does not form part of the statutory financial statements

Page 17