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← Yorkshire Dales Sailing Club

2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1110757

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

YORKSHIRE DALES SAILING CLUB

YORKSHIRE DALES SAILING CLUB

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 16
Detailed Statement of Financial Activities 17 to 18

YORKSHIRE DALES SAILING CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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.

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 2023

FINANCIAL REVIEW

Financial position

The main regular source of income of the club is from its member's subscriptions which in 2023, including Gift Aid reclaimable, amounted to £85,686 (2022: £96,180). In addition, it received grants and donations totalling £34,147 (2022: £22,231).

Expenditure on charitable activities including allocated support and governance costs in the year amounted to £118,351 (2022: £106,858). The costs of raising funds including allocated support and governance costs amounted to £19,975 (2022: £20,878).

Overall, the club had a deficit in the year of £4,635 (2022: surplus £4.708).

Of the accumulated unrestricted funds, £327,830 (2022: £340,943) 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.

The club had total unrestricted funds of £566,471 as at 31 December 2023 (2022: £571,106).

Reserves policy

Free reserves, which are considered to equate to net current assets in the accounts, totalled £33,186 at the year end, of which £32,549 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 it's constitution, as amended on 12 March 2008, which was originally adopted on 24 January 2005. It became a registered charity on 8 August 2005.

Page 2

YORKSHIRE DALES SAILING CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

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

Sedulo Accountants Limited Chartered Certified Accountants 62-66 Deansgate Manchester M3 2EN

Page 3

YORKSHIRE DALES SAILING CLUB

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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

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

Page 4

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 (the Club) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Club 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 Trust'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 Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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.

Emma Houghton ACCA

Sedulo Accountants Limited Chartered Certified Accountants 62-66 Deansgate Manchester M3 2EN

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

Page 5

YORKSHIRE DALES SAILING CLUB

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
fund
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
119,833
-
Charitable activities
5
Charitable activities
2,010
-
Other trading activities
3
11,263
-
Investment income
4
585
-
Total
133,691
-
EXPENDITURE ON
Raising funds
6
19,975
-
Charitable activities
7
Charitable activities
118,351
-
Total
138,326
-
NET INCOME/(EXPENDITURE)
(4,635)
-
RECONCILIATION OF FUNDS
Total funds brought forward
571,106
100
TOTAL FUNDS CARRIED FORWARD
566,471
100		 2023
Total
funds
£
119,833
2,010
11,263
585
133,691
19,975
118,351
138,326
(4,635)
571,206
566,571		 2022
Total
funds
£
118,411
1,757
12,151
125
132,444
20,878
106,858
127,736
4,708
566,498
571,206

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 6

YORKSHIRE DALES SAILING CLUB

BALANCE SHEET 31 DECEMBER 2023

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
£
575,639
680
21,011
32,549
54,240
(21,054)
33,186
608,825
(42,354)
566,471		 Restricted
fund
£
-
-
-
100
100
-
100
100
-
100		 2023
Total
funds
£
575,639
680
21,011
32,649
54,340
(21,054)
33,286
608,925
(42,354)
566,571
566,471
100
566,571		 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

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 7

YORKSHIRE DALES SAILING CLUB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

continued...

Page 8

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Expenditure

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.

continued...

Page 9

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

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
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Day sailing fees and
equipment hire
Charitable activities		 2023
£
68,767
16,919
34,147
119,833
2023
£
9,538
1,725
11,263
2023
£
585
2023
£
2,010		 2022
£
74,027
22,153
22,231
118,411
2022
£
11,597
554
12,151
2022
£
125
2022
£
1,757

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.

continued...

Page 10

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

6. RAISING FUNDS

Raising donations and legacies

Galley costs
Other event costs
Allocation of governance and support costs		 2023
£
6,544
10,650
2,781
19,975		 2022
£
5,920
12,253
2,705
20,878

7. CHARITABLE ACTIVITIES COSTS

Charitable activities Direct
Costs
£
118,351

Included in Charitable expenditure are governance and other support costs totalling £4,856 (2022: £4,882).

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

During the year, a total of £1,151 was paid to 1 trustee for the reimbursement of expenses (2022: £127).

9. STAFF COSTS AND NUMBERS

The charity had no employees during the year (2022 - NIL)

continued...

Page 11

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10. TANGIBLE FIXED ASSETS

Furniture,
equipment,
fixtures
Boathouse
& fittings
£
£
COST
At 1 January 2023
766,692
78,481
Additions
-
7,138
At 31 December 2023
766,692
85,619
DEPRECIATION
At 1 January 2023
253,341
35,415
Charge for year
19,167
4,307
At 31 December 2023
272,508
39,722
NET BOOK VALUE
At 31 December 2023
494,184
45,897
At 31 December 2022
513,351
43,066		 Motor
Boats and
vehicles
equipment
£
£
3,000
122,205
-
9,075
3,000
131,280
766
91,336
447
6,173
1,213
97,509
1,787
33,771
2,234
30,869		 Totals
£
970,378
16,213
986,591
380,858
30,094
410,952
575,639
589,520

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
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income		 2023
£
680
2023
£
1,182
19,829
21,011		 2022
£
660
2022
£
1,182
22,328
23,510

continued...

Page 12

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

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)
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 due over one year:
Bank loans 1-2 years
Bank loans 2-5 years
Bank loans over 5 years
16.
SECURED DEBTS
The following secured debts are included within creditors:
Bank loans		 2023
£
12,000
9,054
21,054
2023
£
42,354
2023
£
12,000
-
12,000
12,000
30,354
42,354
2023
£
54,354		 2022
£
12,915
14,455
27,370
2022
£
53,443
2022
£
12,915
2,500
15,415
12,996
39,227
1,220
53,443
2022
£
66,358

The bank loan represents a mortgage loan secured on the charities 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 currently payable at the rate of 1.5% over base.

continued...

Page 13

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

17. MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 31.12.23
£ £ £
Unrestricted funds
Members general fund 219,163 8,478 227,641
Boathouse (Club Development) 340,943 (13,113) 327,830
Boathouse major repair and refurbishment 10,000 - 10,000
Sponsorship of Members 1,000 - 1,000
571,106 (4,635) 566,471
Restricted funds
Helping underprivileged children to sail 100 - 100
TOTAL FUNDS 571,206 (4,635) 566,571
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
Members general fund 133,691 (125,213) 8,478
Boathouse (Club Development) - (13,113) (13,113)
133,691 (138,326) (4,635)
TOTAL FUNDS 133,691 (138,326) (4,635)

continued...

Page 14

YORKSHIRE DALES SAILING CLUB

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

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		 Net
movement
At
At 1.1.22
in funds
31.12.22
£
£
£
201,342
17,821
219,163
354,056
(13,113)
340,943
10,000
-
10,000
1,000
-
1,000
566,398
4,708
571,106
100
-
100
566,498
4,708
571,206

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
Members general fund 132,444 (114,623) 17,821
Boathouse (Club Development) - (13,113) (13,113)
132,444 (127,736) 4,708
TOTAL FUNDS 132,444 (127,736) 4,708

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.

continued...

Page 15

YORKSHIRE DALES SAILING CLUB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

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 (2022: £1,970).

19. RELATED PARTY DISCLOSURES

Various purchases totalling £2,231 (2022: £5,716) 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 16

YORKSHIRE DALES SAILING CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME AND ENDOWMENTS
Donations and legacies
Members subscriptions
Gift aid on subscriptions
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
Carried forward		 2023
£
68,767
16,919
34,147
119,833
9,538
1,725
11,263
585
2,010
133,691
6,544
10,650
2,781
19,975
1,970
8,847
4,396
6,900
22,113		 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
22,183

This page does not form part of the statutory financial statements

Page 17

YORKSHIRE DALES SAILING CLUB

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Charitable activities
Brought forward
Rates and water
Maintenance - boats and sail
Light and heat
Safety boat cover
Prizes and awards
RYA subscriptions
Training and courses
Depreciation of tangible fixed assets
(Profit)/loss on sale of tangible fixed assets
Maintenance - Property & Equip
Bank interest
Allocation of governance and other support costs
Total resources expended
Net (expenditure)/income		 2023
£
22,113
2,295
20,788
9,320
4,532
2,543
1,430
18,697
30,094
(2,000)
128
3,555
4,856
118,351
138,326
(4,635)		 2022
£
22,183
3,225
12,326
8,108
4,003
2,681
1,375
15,881
29,431
108
569
2,086
4,882
106,858
127,736
4,708

This page does not form part of the statutory financial statements

Page 18