| Page | |||
|---|---|---|---|
| Chair's statement | |||
| Trustees' Report |
2 to 9 | ||
| Independent Examiner's Report |
|||
| Statement of Financial | Activities | ||
| Balance Sheet | 12to 13 | ||
| Notes to the Financial | Statements | 14to 23 | |
| Detailed Statement of |
Financial | Activities | 24 to 25 |
| for t | he Year E | nded 31stJanu | ary 2022 | ||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Unrestricted | Restricted | Total funds | Total funds | ||||
| funds | funds | ||||||
| Notes | F | ||||||
| Income and endowments | from | ||||||
| Donations and legacies Charitable activities |
7,658 | 7,658 | 18,466 | ||||
| Core funding | 49,991 | 76,198 | 126,189 | 169,046 | |||
| Investment income |
9 | 9 | 22 | ||||
| Other income | 206 | 206 | |||||
| HMRC Corona Virus | Job Retention | ||||||
| Scheme | 13,256 | 13,256 | 36,844 | ||||
| Total | 71,120 | 76,198 | 147,318 | 224,378 | |||
| Expenditure on |
|||||||
| Raising funds | 140 | 140 | 600 | ||||
| Charitable activities |
|||||||
| Core funding | 44,114 | 90,534 | 134,648 | 112,275 | |||
| Total | 44,254 | 90,534 | 134,788 | 112,875 | |||
| Net income | 26,866 | (14,336) | 12,530 | 111,503 | |||
| Other recognised gains |
|||||||
| Gain on revaluation | offixed | assets | |||||
| Net movement in funds |
26,866 | (14,336) | 12,530 | 111,503 | |||
| Reconciliation offunds |
|||||||
| Total funds brought | forward | 529,279 | 42,522 | 571,801 | 460,298 | ||
| Transfer between funds | |||||||
| Total funds carried | forward | 556,145 | 28,186 | 584,331 | 571,801 |
| At 31 | stJanuary 2022 | ||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Unrestricted | Restricted | Totalfunds | Total funds | ||||
| funds | funds | ||||||
| Notes | 6 | 8 | |||||
| Fixed assets | |||||||
| Tangible assets | 10 | 559,515 | 559,515 | 552,981 | |||
| Investments | 11 | 100 | 100 | 100 | |||
| 559,615 | 559,615 | 553,801 | |||||
| Current assets | |||||||
| Stock | 400 | 400 | 400 | ||||
| Debtors | 12 | 44,361 | 44,361 | 15,852 | |||
| Cash at bank and in hand | 106,033 | 28,186 | 134,219 | 168,578 | |||
| 150,794 | 28,186 | 178,980 | 184,830 | ||||
| Creditors | |||||||
| Amounts falling due within |
one year | 13 | (30,157) | (30,157) | (36,845) | ||
| Net current | assets | 120,637 | 28,186 | 148,823 | 147,985 | ||
| Total assets | less current | liabilities | 680,252 | 28,186 | 708,438 | 701,066 | |
| Creditors | |||||||
| Amounts falling due after |
more than one | ||||||
| year | 14 | (124,107) | (124,107) | (129,265) | |||
| Net assets | 556,145 | 28,186 | 584,331 | 571,801 | |||
| Funds | 17 | ||||||
| Unrestricted | funds | 556,145 | 529,279 | ||||
| Restricted funds | 28,186 | 42,522 | |||||
| Total funds | 584,331 | 571,801 |
for the Year |
Ended 31stJanuary 202 | 2 | |||
|---|---|---|---|---|---|
| income from charitable activities |
2022 | 2021 | |||
| Membership subscriptions Sail days and training courses Sail Training Activities Reardon Smith Nautical Trust Reardon Smith Nautical Trust Reardon Smith Nautical Trust Garfield Weston Wales Council for Voluntary Action |
Activity Core funding Core funding Core funding Core funding Centenary grant COVID funding Core funding Core, capital and COVID |
6 8,347 505 19,852 10,000 20,000 20,000 14,063 |
6 7,491 177 9,112 5,000 42,187 |
||
| ASTO National Lottery Community Fund Welsh Government -ERF Welsh Government —Outdoor activities Soroptimist International Barry & District Millenium Stadium Charitable Trust Joseph Levy Foundation Crystal Lodge Glamorgan Voluntary Services BBCChildren in Need Sports Council for Wales Sail Training International Vale of Glamorgan Council Co-Operative |
funding Core and COVID funding Core funding COVID funding COVID funding Core funding Core funding Core funding Core funding COVID funding Core funding Capital funding Core funding COVID funding Core Funding |
5,750 9,307 2,500 6,250 3,000 1,000 1,263 2,815 1,537 |
77,917 1,000 2,500 262 9,600 1,500 300 12,000 |
||
| 126,189 | 169,046 | ||||
| 5. | Support costs | Governance | |||
| Other E |
costs | Totals f |
|||
| Core funding | 12,927 | 1,495 | 14,422 | ||
| Support costs, included in the above, are as follows: |
|||||
| 2022 f |
2021 f |
||||
| Property rent and rates |
9,723 633 |
8,805 823 |
|||
| I ight, heat and water | 287 | 464 | |||
| Telephone Accountancy and legal fees Office consumables |
1,495 628 948 |
1,300 296 580 |
|||
| Marketing Office repairs and small equipment |
708 | ||||
| 14,422 | 12,286 | ||||
| 6. | Net income | ||||
| Net income is stated after charging: | 2022 | 2021 | |||
| F | F | ||||
| Depreciation -owned assets Hire of life rafts Operating leases Loan interest Independent Examiner's fee |
5,776 1,696 7,800 7,406 1,345 |
5,570 2.311 7,800 6,217 1,300 |
| Analysis of staff costs, trustee remuneration a personnel |
nd expenses and the costs of key m |
anagement |
|---|---|---|
| 2022 | 2021 | |
| Salaries and wages Social security costs Pension costs |
53,757 4,341 1,094 |
48,274 3,450 901 |
| 59,192 | 52,625 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Business Development | and Administrative | support | 2.0 | 2.0 | |
| Ship's skippers | and mates | 2.0 | 2.0 |
| Unrestricted | Restricted | Total funds | |||
|---|---|---|---|---|---|
| funds | funds | ||||
| E | |||||
| Income and endowments Donations and legacies |
from | 18,466 | 18,466 | ||
| Charitable activities Core funding |
34,780 | 134,266 | 169,046 | ||
| Other trading activities |
22 | 22 | |||
| HMRC Coronavirus Job Retention |
36,844 | 36,844 | |||
| Total | 90,112 | 134,266 | 224,378 | ||
| Expenditure on Raising funds |
600 | 600 | |||
| Charitable activities Core funding |
~4,154) | 116,429 | 112,275 | ||
| Total | 3,554 | 116,429 | 112,875 | ||
| Net income and Net movement | in funds | 93,666 | 17,837 | 111,503 | |
| Reconciliation offunds |
|||||
| Total funds brought forward |
435,613 | 24,685 | 460,298 | ||
| Transfer between funds | |||||
| Total funds carried forward | 529,729 | 42,522 | 571,801 |
| 2022 f |
2021 f |
|||||
|---|---|---|---|---|---|---|
| Turnover | 10,809 | 357 | ||||
| Total expenditure | ~762 | ~306 | ||||
| Net profit for year | ~10 47 | 51 | ||||
| Total assets Total liabilities |
13,565 ~3418 |
2,819 ~2666 |
||||
| Shareholders' | funds | 10,147 | 151 | |||
| 12. | Debtors: amounts | falling due within one year | ||||
| 2022 f |
2021 f |
|||||
| Trade debtors | 31,421 | 728 | ||||
| VAT | 836 | 1,857 | ||||
| Prepayments | and accrued income | 12,104 | 13,267 | |||
| 44,361 | 15,852 | |||||
| 13. | Creditors: amounts | falling due within one year | ||||
| 2022 f |
2021 f |
|||||
| Other loans | 17,711 | 23,757 | ||||
| Trade creditors | 1,929 | 1,427 | ||||
| Amounts owed to group undertakings |
588 | |||||
| Social security | and | other taxes | 3,860 | 6,388 | ||
| Accruals and | deferred | income | 6,657 | 4,685 | ||
| 30,157 | 36,845 | |||||
| 14. | Creditors: amounts | falling due after more than one year | ||||
| 2022 f |
2021 f |
|||||
| Other loans - | 1-2years | 18,150 | 32,140 | |||
| Other loans - | 2-5years | 35,925 | 97,125 | |||
| Other loans —over 5 | years | 70,032 | ||||
| 124,107 | 129,265 |
| The following | operating lease payments |
are committed to be paid: |
||
|---|---|---|---|---|
| 2022 | 2021 | |||
| E | ||||
| Expiring: | ||||
| Within 1 year |
10,800 | 5,850 | ||
| Within 2to 5 | years | 0 | ||
| Secured debts | ||||
| The following | secured debts are included | within creditors: | ||
| 2022 | 2021 | |||
| E | 6 | |||
| Otherloans | 98,787 | 113,645 |
| Movement in funds |
||||||
|---|---|---|---|---|---|---|
| Net | Transfers | |||||
| movement | between | |||||
| At 1.2.21 | in funds | funds | At 31.1.22 | |||
| Unrestricted funds |
||||||
| General fund | 242,318 | 26,866 | 269,184 | |||
| Revaluation reserve |
286,961 | 286,961 | ||||
| 529,279 | 26,866 | 556,145 | ||||
| Restricted funds | ||||||
| Sail Training International |
3,110 | (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) | ||
| National Lottery Awards for All |
8,186 | 8,186 | ||||
| Reardon Smith Nautical Trust |
20,000 | 20,000 | ||||
| 42,522 | (14,336) | 28,186 | ||||
| TOTAL FUNDS | 571,801 | 12,530 | 584,331 |
| Net movement in funds, |
inclu | ded in the |
above are as follow | s: | |
|---|---|---|---|---|---|
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| E | E | E | |||
| Unrestricted funds |
|||||
| General fund |
49991 | ~44 114 | 5877 | ||
| Restricted funds | |||||
| ASTO | 5,750 | (5,750) | |||
| BBCChildren in Need |
(9,600) | (9,600) | |||
| Joseph I evy Foundation |
3,000 | (3,000) | |||
| Wales Council for Voluntary | Action | 14,063 | (41,375) | (27,312) | |
| Sail Training International |
2,815 | (5,925) | (3,110) | ||
| Garfield Weston | 20,000 | (20,000) | |||
| Sports Council for Wales | 1,263 | (1,263) | |||
| The National Lottery Awards |
for All | 9,307 | (1,121) | 8,186 | |
| Millenium Stadium Charitable |
Trust | (2,500) | (2,500) | ||
| Reardon Smith Nautical |
Trust | 20 000 | 20 000 | ||
| TOTAL FUNDS | 76,198 ~9 |
(90,534) (~18 |
(14,336) ~4 |
| for t | he Y | ea | r Ended 31stJanuary | 2022 | |||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| 6 | 6 | ||||||
| Income and endowments | |||||||
| Donations and legacies |
|||||||
| Third party donations | 5,227 | 3,449 | |||||
| Gift aid | 2,380 | 1,920 | |||||
| Challenge Wales (Sales) Limited |
51 | 11,047 | |||||
| Private Donations | 2,050 | ||||||
| 7,658 | 18,466 | ||||||
| Investment income |
|||||||
| Deposit account interest | 22 | ||||||
| Charitable activities |
|||||||
| Membership subscriptions |
8,347 | 7,491 | |||||
| Crew fees | 505 | 177 | |||||
| Sail Training Activities |
19,852 | 9,112 | |||||
| Reardon Smith Nautical Trust —sail training | bursary | 10,000 | |||||
| Reardon Smith Nautical Trust —general |
grant | 20,000 | 5,000 | ||||
| Garfield Weston | 20,000 | ||||||
| Wales Council for Voluntary | Action | 14,063 | 42,187 | ||||
| Welsh Government ERF funding |
2,500 | ||||||
| Welsh Government Outdoor |
Activities grant | 6,250 | |||||
| ASTO | 5,750 | 77,917 | |||||
| The National Lottery Community |
Fund-Awards | for All | 9,307 | ||||
| Soroptomist | 1,000 | ||||||
| Millenium Stadium Charitable |
Trust | 2,500 | |||||
| Sail Training International |
2,815 | 300 | |||||
| Co-Operative | 1,537 | ||||||
| BBCChildren in Need |
9,600 | ||||||
| Crystal Lodge | 1,000 | ||||||
| Sports Council for Wales | 1,263 | 1,500 | |||||
| Joseph Levy Foundation | 3,000 | ||||||
| Vale ofGlamorgan Council |
12,000 | ||||||
| Glamorgan Voluntary Services Comic |
Relief | 262 | |||||
| 126,189 | 169,046 | ||||||
| Other income | |||||||
| Sundry income |
206 | ||||||
| 206 | |||||||
| HMRC Corona Virus Job Retention Scheme | 13,256 | 36,844 | |||||
| Total incoming resources |
147,318 | 224,378 |
| 2022 | 2021 | ||
|---|---|---|---|
| F | |||
| Expenditure | |||
| Charitable activities |
|||
| Wages Skipper and mates' fees Insurance |
59,192 8,700 7,341 |
52,625 840 7,110 |
|
| Postage and stationery Sundries |
19 674 |
159 1,211 |
|
| Offshore costs | 18,394 | 15,643 | |
| Boat repairs and maintenance Onshore storage costs Marine Charts and publications Subscriptions and donations Travel and subsistence |
7,256 272 337 1,561 387 |
6,615 816 72 517 64 |
|
| Computer and software Depreciation ofVessels and other Bank and other loan interest |
equipment | 2,429 5,776 7,406 |
1,645 5,571 6,217 |
| Staff and volunteer training Course accreditation, monitoring |
and evaluation | 300 | 581 |
| 120,044 | 99,686 | ||
| Support costs | |||
| Other | |||
| Property rent and rates Light, heat and water Telephone Office consumables |
9,723 633 287 628 |
8,999 823 464 296 |
|
| Marketing Office repairs and maintenance Bank charges |
948 708 182 |
580 127 |
|
| 13,109 | 11,289 | ||
| Governance costs | |||
| Accountancy and legal fees Fund raising costs |
1,495 140 1,635 |
1,300 600 1,900 |
|
| Total resources expended | 134788 | 112875 | |
| Net income | 1253 |