## |||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|