| Page | ||
|---|---|---|
| Trustees' Report |
1 to 8 | |
| Independent Examiner's |
Report | |
| Statement of Financial |
Activities | 10 |
| Balance Sheet | 11 to 12 | |
| Notes to the Financial Statements | 13to 22 | |
| Detailed Statement of Financial Activities | 23 to 24 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | ||||
| funds | funds | ||||||
| Notes | E | E | E | ||||
| Income and endowments from |
|||||||
| Donations and legacies |
18,466 | 18,466 | 20,987 | ||||
| Charitable activities |
|||||||
| Core funding | 34,780 | 134,266 | 169,046 | 192,626 | |||
| Investment income |
220 | ||||||
| Other income | 22 | 22 | 68 | ||||
| HIVIRC Corona Virus | Job Retention | ||||||
| Scheme | 36,844 | 36,844 | |||||
| Total | 90,112 | 134,266 | 224,378 | 213,901 | |||
| Expenditure on |
|||||||
| Raising funds | 600 | 600 | 1,350 | ||||
| Charitable activities |
|||||||
| Core funding | ~4,154) | 116,429 | 112,275 | 219,620 | |||
| Total | (3,554) | 116,429 | 112,875 | 220,970 | |||
| Net income/(expenditure) | 93,666 | 17,837 | 111,503 | (7,069) | |||
| Other recognised | gains | ||||||
| Gain on revaluation | offixed assets | ||||||
| 93,666 | 17,837 | 111,503 | (7,069) | ||||
| Net movement in |
funds | ||||||
| Reconciliation of |
funds | ||||||
| Total funds brought | forward | 435,613 | 24,685 | 460,298 | 467,367 | ||
| Transfer between | funds | ||||||
| Total funds carried | forward | 529,279 | 42,522 | 571,801 | 460,298 |
| At 31 | stJanuary 2021 |
|||||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| Unrestricted | Restricted | Total funds | Total funds | |||||
| funds | funds | |||||||
| Notes | 8 | |||||||
| Fixed assets | ||||||||
| Tangible assets | 10 | 552,981 | 552,981 | 553,989 | ||||
| Investments | 11 | 100 | 100 | 100 | ||||
| 553,081 | 553,081 | 554,089 | ||||||
| Current assets | ||||||||
| Stock | 400 | 400 | 400 | |||||
| Debtors | 12 | 15,852 | 15,852 | 14,285 | ||||
| Cash at bank | and | in hand | 111,993 | 56,585 | 168,578 | 47,665 | ||
| 128,245 | 56,585 | 184,830 | 62,350 | |||||
| Creditors | ||||||||
| Amounts falling due within |
one year | 13 | (34,845) | (2,000) | (36,845) | (37,910) | ||
| Net current | assets | 93,400 | 54,585 | 147,985 | 24,440 | |||
| Total assets | less | current | liabilities | 646,481 | 54,585 | 701,066 | 578,529 | |
| Creditors | ||||||||
| Amounts falling due after |
more than one | |||||||
| year | 14 | (117,202) | (12,063) | (129,265) | (118,231) | |||
| Net assets | 529,279 | 42,522 | 571,801 | 460,298 | ||||
| Funds | ||||||||
| Unrestricted | funds | 529,279 | 435,613 | |||||
| Restricted funds |
42,522 | 24,685 | ||||||
| Total funds | 571,801 | 460,298 |
| for the Year | for the Year | for the Year | Ended 31stJanu | ary 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|
| 4. | Income from charitable | activities | |||||||
| 2021 | 2020 | ||||||||
| Activity | E | 6 | |||||||
| Membership subscriptions |
Core funding | 7,491 | 8,455 | ||||||
| Sail days and training courses | Core funding | 177 | 2,033 | ||||||
| Sail Training Activities |
Core funding | 9,112 | 16,493 | ||||||
| Reardon Smith Nautical |
Trust | Core funding | 29,926 | ||||||
| Reardon Smith Nautical |
Trust | COVID funding | 5,000 | ||||||
| Wales Council for Voluntary | Action | Core, capital and | COVID | 42,187 | 12,000 | ||||
| funding | |||||||||
| ASTO | Core and COVID | funding | 77,917 | 6,355 | |||||
| National Lottery Community |
Fund | Core funding | 50,423 | ||||||
| Royal Thames Yacht Club | Core funding | 3,780 | |||||||
| Soroptimist International |
Barry | & District | Core funding | 1,000 | |||||
| Millenium Stadium Charitable |
Trust | Core funding | 2,500 | ||||||
| Sultan of Oman Bursary |
Fund | Core funding | 1,720 | ||||||
| James Myatt Trust | Core funding | 2,300 | |||||||
| Rotary Club of Cardiff St | David's | Core funding | 1,080 | ||||||
| Garfield Weston Trust | Core funding | 30,000 | |||||||
| Glamorgan Voluntary Services |
COVID funding | 262 | |||||||
| BBCChildren in Need |
Core funding | 9,600 | 9,600 | ||||||
| Worshipful company of |
Shipwrights | Core funding | 1,000 | ||||||
| Sports Council for Wales | Capital funding | 1,500 | 5,051 | ||||||
| Merseyside Adventure |
Sailing | Trust | Core funding | 9,600 | |||||
| Sail Training International |
Core funding | 300 | 2,810 | ||||||
| Vale of Glamorgan Council |
COVID funding | 12,000 | |||||||
| 169,046 | 192,626 | ||||||||
| 5. | Support costs | ||||||||
| Governance | |||||||||
| Other | costs | Totals | |||||||
| F | E | ||||||||
| Core funding | 10,986 | 1,300 | 12,286 | ||||||
| Support costs, included | in the | above, are | as follows: | ||||||
| 2021 | 2020 | ||||||||
| K | 6 | ||||||||
| Property rent and rates |
8,805 | 9,573 | |||||||
| Light, heat and water | 823 | 1,027 | |||||||
| Telephone | 464 | 448 | |||||||
| Accountancy and legal |
fees | 1,300 | 1,260 | ||||||
| Office consumables | 296 | 577 | |||||||
| Marketing | 580 | 5,172 | |||||||
| 12,286 | 18,057 | ||||||||
| 6. | Net income | ||||||||
| Net income is stated after charging: | |||||||||
| 2021 | 2020 | ||||||||
| Depreciation -owned assets |
5,570 | 4,949 | |||||||
| Hire of life rafts | 2,311 | 2,485 | |||||||
| Operating leases |
7,800 | 7,800 | |||||||
| Loan interest | 12,014 | 8,991 | |||||||
| Independent Examiner's |
fee | 1,300 | 1,260 |
| 2021 | 2020 | |
|---|---|---|
| Salaries and wages Social security costs Pension costs |
6 48,274 3,450 901 |
E 76,953 6,196 1,184 |
| 52,625 | 84,333 |
| The average monthly number ofemployee |
s during the year was |
as follows: | |
|---|---|---|---|
| Business Development and Administrative Ship's skippers and mates |
support | 2021 2.0 |
2020 2.0 1.0 |
| 2.0 | 3.0 |
| Unrestricted | Restricted | Total funds | ||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 8 | 6 | |||||
| Income and | endowments | from | ||||
| Donations and legacies |
20,987 | 20,987 | ||||
| Charitable activities |
||||||
| Core funding | 26,981 | 165,645 | 192,626 | |||
| Other trading | activities | 288 | 288 | |||
| Total | 48,256 | 165,645 | 213,901 | |||
| Expenditure | on | |||||
| Raising funds | 1,350 | 1,350 | ||||
| Charitable activities |
||||||
| Core funding | 47,763 | 171,857 | 219,620 | |||
| Total | 49,113 | 171,857 | 220,970 | |||
| Net income | and Net movement | in funds | (857) | (6,212) | (7,069) | |
| Reconciliation offunds |
||||||
| Total funds | brought forward | |||||
| 431,419 | 35,948 | 467,367 | ||||
| Transfer between funds | 5,051 | (5,051) | ||||
| Total funds | carried forward | 435,613 | 24,685 | 460,298 |
| for Tangible fixed assets |
the Year Ended 31stJan | uary 2021 | |||
|---|---|---|---|---|---|
| Adventure | Equipment | ||||
| Challenge | Wales | for Voyages | |||
| Wales Yacht F |
Yacht | of Discoveryf | Total F |
||
| Cost or valuation | |||||
| At 1 February 2020 | 472,310 | 164,394 | 1,250 | 637,954 | |
| Additions | 4,562 | 4,562 | |||
| At 31January 2021 | ~472 31 | 1$LB56 | |||
| Depreciation | |||||
| At 1 February 2020 | 77,034 | 5,681 | 1,250 | 83,965 | |
| Charge for the year | 981 | 4,589 | 5,570 | ||
| At31 January 2021 | ~78 01 | ~1 | 125Q | ||
| Net Book Value | |||||
| At31 January 2021 | ~15 686 | 552 981 | |||
| At31 January 2020 | ~7 | 158713 | ~55 | 89 |
| The Adventure Wales Yacht is held at cost less accumulated depr Fixed asset investments |
eciation. | |
|---|---|---|
| Shares | in | |
| group | ||
| undertakingsf | ||
| Nlarket value | ||
| At 1st February 2020 and 31stJanuary 2021 | 100 | |
| Net book value | ||
| At 31stJanuary 2021 | 100 | |
| At 31stJanuary 2020 | 100 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| E | |||||||
| Turnover | 357 | 12,347 | |||||
| Total expenditure | ~306 | ~1300 | |||||
| Net profit for year | 51 | ||||||
| Total assets Total liabilities |
2,819 ~2668 |
13,326 ~2179 |
|||||
| Shareholders' | funds | 151 | 11,147 | ||||
| 12. | Debtors: amounts | falling due within one year | |||||
| 2021 | 2020 | ||||||
| E | |||||||
| Trade debtors | 728 | 1,889 | |||||
| VAT | 1,857 | 3,013 | |||||
| Prepayments | and accrued income | 13,267 | 9,383 | ||||
| 15,852 | 14,285 | ||||||
| 13. | Creditors: amounts | falling due within one year | |||||
| 2021 | 2020 | ||||||
| 6 | F | ||||||
| Other loans | 23,757 | 25,993 | |||||
| Trade creditors | 1,427 | 3,387 | |||||
| Amounts owed |
to group undertakings | 588 | 587 | ||||
| Social security | and | other taxes | 6,388 | 2,792 | |||
| Accruals and | deferred | income | 4,685 | 5,151 | |||
| 36,845 | 37,910 | ||||||
| 14. | Creditors: amounts | falling due after more than one year | |||||
| 2021 | 2020 f |
||||||
| Other loans - | 1-2years | 32,140 | 12,801 | ||||
| Other loans - | 2-5 years | 97,125 | 33,186 | ||||
| Other loans —over 5 | years | 72,244 | |||||
| 129,265 | 118,231 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| F | ||||
| Expiring: | ||||
| Within | 1 year | 5850 | ||
| Secured debts | ||||
| The following secured debts are included | within creditors: | |||
| 2021 | 2020 | |||
| f | ||||
| Other | loans | 113,645 | 144,224 |
| Net | Transfers | ||||||
|---|---|---|---|---|---|---|---|
| movement | between | ||||||
| At 1.2.20 | in funds | funds | At 31.1.21 | ||||
| Unrestricted | funds | ||||||
| General fund |
148,652 | 93,666 | 242,318 | ||||
| Revaluation | reserve | 286,961 | 286,961 | ||||
| 435,613 | 93,666 | 529,279 | |||||
| Restricted funds | |||||||
| Sail Training | International | 2,810 | 300 | 3,110 | |||
| Wales Council for Voluntary | Action | 27,312 | 27,312 | ||||
| BBCChildren | in Need | 9,600 | 9,600 | ||||
| Millenium Stadium |
Charitable | Trust | 2,500 | 2,500 | |||
| Garfield Weston | 21,875 | ~21,875) | |||||
| 24,685 | 17,837 | 42,522 | |||||
| TOTAL FUNDS | 460,298 | 111,503 | 571,801 |
| Net movement in fu |
nd | s, inclu | ded in the a |
bove are as follow | s: | |
|---|---|---|---|---|---|---|
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| 6 | F. | |||||
| Unrestricted funds |
||||||
| General fund | 90 112 | 3554 | 93666 | |||
| Restricted funds | ||||||
| ASTO | 77,917 | (77,917) | ||||
| BBCChildren in Need |
9,600 | 9,600 | ||||
| Glamorgan Voluntary |
Services Comic | 262 | (262) | |||
| Relief | ||||||
| Wales Council for Voluntary | Action | 42,187 | (14,875) | 27,312 | ||
| Sail Training International |
300 | 300 | ||||
| Garfield Weston | (21,875) | (21,875) | ||||
| Sports Council for Wales | 1,500 | (1,500) | ||||
| Millenium Stadium |
Charitable | Trust | 2 500 | 2500 | ||
| 134,266 | (116,429) | 17,837 | ||||
| TOTAL FUNDS |
| f | or | the Y | ear | Ended 31stJanuary 20 | 21 | ||||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||
| F | E | ||||||||
| Income and endowments | |||||||||
| Donations and legacies |
|||||||||
| Third party donations | 3,449 | 1,661 | |||||||
| Gift aid | 1,920 | 1,824 | |||||||
| Challenge Wales (Sales) Limited |
11,047 | 15,858 | |||||||
| Private Donations | 2,050 | 1,644 | |||||||
| 18,466 | 20,987 | ||||||||
| Investment income |
|||||||||
| Deposit account interest | 22 | ||||||||
| Charitable activities |
|||||||||
| Membership subscriptions |
7,491 | 8,455 | |||||||
| Crew fees | 177 | 2,033 | |||||||
| Sail Training Activities |
9,112 | 16,493 | |||||||
| Reardon Smith Nautical Trust |
—sail | training | bursary | 29,926 | |||||
| Reardon Smith Nautical Trust |
—general | grant | 5,000 | ||||||
| Garfield Weston | 30,000 | ||||||||
| Wales Council for Voluntary | Action | 42,187 | 12,000 | ||||||
| ASTO | 77,917 | 6,355 | |||||||
| Royal Thames Yacht Club | 3,780 | ||||||||
| The National Lottery Community |
Fund-Voyages | of Discovery | 50,423 | ||||||
| Soroptomist | 1,000 | ||||||||
| Millenium Stadium Charitable |
Trust | 2,500 | |||||||
| Rotary Club of Cardiff St. David's | 1,080 | ||||||||
| Sail Training International |
300 | 2,810 | |||||||
| James Myatt Trust | 2,300 | ||||||||
| Sultan of Oman Bursary Fund | 1,720 | ||||||||
| BBCChildren in Need |
9,600 | 9,600 | |||||||
| Worshipful Company of Shipwrights |
1,000 | ||||||||
| Sports Council for Wales | 1,500 | 5,051 | |||||||
| Merseyside Adventure Sailing |
Trust | 9,600 | |||||||
| Vale of Glamorgan Council |
12,000 | ||||||||
| Glamorgan Voluntary Services Comic |
Relief | 262 | |||||||
| 169,046 | 192,626 | ||||||||
| Other income | |||||||||
| Sundry income |
220 | ||||||||
| 220 | |||||||||
| HMRC Corona Virus Job Retention | Scheme | 36,844 | |||||||
| Total incoming resources |
224,378 | 213,901 |
| Charitable activities |
|||
|---|---|---|---|
| Wages | 52,625 | 84,333 | |
| Skipper and mates' fees | 840 | 22,580 | |
| Insurance | 7,110 | 7,728 | |
| Postage and stationery | 159 | 101 | |
| Sundries | 1,211 | 1,036 | |
| Offshore costs | 15,643 | 24,438 | |
| Boat repairs and maintenance | 6,615 | 21,493 | |
| Onshore storage costs | 816 | 753 | |
| Costs associated with Single Minded |
1,778 | ||
| Marine Charts | 72 | 176 | |
| Subscriptions and donations |
517 | 940 | |
| Travel and subsistence | 64 | 8,482 | |
| Computer and software |
1,645 | 1,440 | |
| Depreciation ofVessels and other equipment |
5,571 | 4,949 | |
| Bank and other loan interest | 6,217 | 8,991 | |
| Staff and volunteer training |
581 | 2,788 | |
| Translation costs |
|||
| Course accreditation, monitoring |
and evaluation | 7,792 | |
| Big Lottery branded clothing |
736 | ||
| 99,686 | 200,534 | ||
| Supportcosts | |||
| Other | |||
| Property rent and rates |
8,999 | 9,573 | |
| Light, heat and water | 823 | 1,027 | |
| Telephone | 464 | 448 | |
| Office consumables | 296 | 577 | |
| Marketing | 580 | 5,172 | |
| Office repairs and maintenance | 745 | ||
| Bank charges | 127 | 284 | |
| 11,289 | 17,826 | ||
| Governance costs | |||
| Accountancy and legal fees |
1,300 | 1,260 | |
| Fund raising costs | 600 | 1 350 | |
| 1,900 | 2,610 | ||
| Total resources expended | 112875 | 220 970 | |
| Net income/(expenditure) | 7069 |