||||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||