2021-12-31-accounts - Cardigan Bay Watersports

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered Charity Number 1117225

Registered Company Number 05731116

Cardigan Bay Watersports

Report and Accounts For The Year Ended

31 December 2021

Cardigan Bay Watersports Company Information

Directors

Stephen Richard Berry Roger Couch Crawford John Mcleary Mark Andrew Rex Willis

Secretary

Alan Martin Davies

Accountants

Martin Davies Pibydd y Traeth Bro Nantcellan, Clarach Aberystwyth Ceredigion SY23 3PH

Registered office

8 Bro Nantcellan Clarach Aberystwyth Ceredigion SY23 3PH

Charity registered number

1117225

Company registered number

05731116

Cardigan Bay Watersports

The report of the trustees for the year ended 31 December 2021

Introduction

The trustees present their annual report and accounts for the year ended 31st December 2021.

The Charity benefitted significantly from the decision of much of the population of the UK to holiday ‘at home’. Large numbers of n Staycationers used our facilities during the summer resulting in a significant increase in activity to £131,789 compared with £37,422 in the year of the pandemic. The impact of this can be ascertained from the accounts.

Name, registered office and constitution of the charity

The full name of the charity is Cardigan Bay Watersports.

The legal registration details are :-

Date of incorporation 6th March 2006 Company Registration Number 05731116 The Registered Office is 8 Bro Nantcellan, Clarach, Aberystwyth, SY23 3PH Charity Registration Number 1117225 The telephone number is 01545-561257

Objectives and Activities of the Charity

A summary of the objects of the charity as set out in its governing document.

i) for the benefit of the community in Cardigan Bay and in particular New Quay by organising, providing or assisting in the provision of facilities for education and physical recreation in the interests of social welfare with the object of improving the condition of life for those who, for social and economic circumstances, have a need for such facilities; and

ii) to advance education in sailing, kayaking, windsurfing and other watersports in Cardigan Bay.

Public benefit that is provided by the charity

The charity provides a number of interrelated benefits to the public:

1 it increases opportunities for individuals to take exercise in the open air, to build personal confidence and to widen their active participation in sport;

2 through the youth programme, it encourages early participation in sports that can be carried on throughout life;

3 it provides a development pathway for those interested in developing skills and progressing competitively in such sports;

4 it contributes to local and national initiatives aimed at increasing exercise levels amongst the population;

5 it provides a sound base for individuals to develop skills that could lead to volunteering and/or employment in watersports as instructors, coaches or managers;

6 it contributes to the well-being and social life of the county;

7 in cooperation with other activity providers, it contributes to raising the profile of this area of Wales as a centre for sports tourism.

Cardigan Bay Watersports

The report of the trustees for the year ended 31 December 2021

Summary of main activities of the charity in relation to its objects

Provision of courses in dinghy sailing, yacht cruising, windsurfing and powerboat handling following the syllabus set down by the Royal Yachting Association (RYA) and issuing appropriate certificates to successful candidates. Providing taster sessions and recreational activities for schools, youth groups and individuals in watersports.

Achievements and Performance of the Charity

Summary of the main achievements of the charity during the year

Revenue. The centre recorded a bumper year as customers were again “allowed” into Wales whereas foreign travel was still limited due to Covid 19 restrictions.
Sales / Marketing. With changes to the customer booking for hires now established online this has proven to be a real boon to operating the business. Customers can now clearly see what and when they are booked for hire. Queues outside the building are a thing of the past. Our safety boat management of hires is now very much safer with numbers limited to defined time slots.

CBW continues to enjoy 5 star ratings on both Trip advisor and Google.

Grant applications. The Charity was successful in being awarded three grants from: Sport Wales to renew and update our dinghy fleet; Third Sector Resilience Fleet tore-vamp the website to include on-line booking and ‘back office’ facilities for more effective business management; and Costal communities fund to provide equipment, infrastructure and training to allow the development and introduction of new experiential activities with an ’Eco’ flavour.
Compliance and Recognition. The RYA Annual inspection was completed in September without any significant recommendations. Our new tour escort /safety boat was equipped to the standard recommended by AALA.
Personnel / Training. Nine of this year’s team completed or renewed their First Aid qualification funded by the centre. Two of our young women achieved their Dinghy instructor qualification. A Sea survival course was attended by 5 of the team working towards the commercial endorsement of their PB2 which will enable them to support kayak tours in the new escort/safety boat.
Equipment. We took delivery of “Gemini of New Quay”, the CCF grant funded safety boat, in October. Ordered in March this boat is to support our kayak tours in 2022 and beyond. This is a fully coded boat which enables us to begin the process of identifying new opportunities for market expansion.

Structure, Governance and Management

Nature of the Governing Document and constitution of the charity

The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity, and membership of the board of trustees is governed by the memorandum and articles of association. There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.

The methods adopted for the recruitment and appointment of new trustees

The trustees are appointed at the charity's annual general meeting and retire from office at the third AGM following the AGM at which they were elected. Any casual vacancy arising during the year is filled by co-option of a person onto the board; that person is then duly elected at the subsequent AGM.

Cardigan Bay Watersports

The report of the trustees for the year ended 31 December 2021

Financial Review

Policies on reserves

The trustees have resolved to establish reserves to provide for future activities, and to provide funding for the expected expenditure for six months ahead. Reserves at 31 December decreased, the trustees deem the reserve adequate to support the operation during the summer season.

The policy on reserves is that the existing assets are retained to produce income which is wholly utilised to support existing activities. There is no intention in the long term to either increase or reduce the capital significantly. The level at 31 December of £133,565 reflects the value of current assets at this time.

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Transactions and Financial position

The financial statements are set out on pages 9 to 19. The financial statements have been prepared implementing the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting by Charities issued by the Charity Commission for England and Wales (revised in June 2008) and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) .As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.

The Statement of Financial Activities show net incoming resources for the year of a revenue nature of £25,035 (prior year net outgoing resources of £17,116).

The total reserves at the year end stand at £133,565, (prior year £108,530).

Free unrestricted liquid reserves amounted to £98,432, (prior year £59,947).

Specific changes in fixed assets

Changes in fixed assets are shown in detail in the notes to the accounts.

Share Capital

The company is limited by guarantee and therefore has no share capital

Cardigan Bay Watersports

The report of the trustees for the year ended 31 December 2021

The members of the Board of Trustees of the Charity during the year ended 31st December 2021 were :-

Roger Couch (Chairperson) Stephen Richard Berry Mark Andrew Rex Willis Crawford John Mcleary

All the directors of the company are also trustees of the charity, and their responsibilities include all the responsibilities of directors under the Companies Acts and of trustees under the Charities Acts.

The directors/trustees are all members of the charity.

At the annual general meeting Mr Crawford Mcleary and Mr Stephen Berry retire by rotation and being eligible, offer themselves for re-election.

The members of the Board of Trustees of the Charity at the date the report and accounts were approved were:-

Roger Couch (Chairperson) Stephen Richard Berry Crawford John Mcleary Mark Andrew Rex Willis

Independent Examiner

Martin Davies Accountant Pibydd y Traeth Bro Nantcellan, Clarach Aberystwyth

Cardigan Bay Watersports

The report of the trustees for the year ended 31 December 2021

Statement of Directors' and Trustees' Responsibilities

The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
state whether applicable accounting standards and statements of recommended practice have been followed , subject to any material departures disclosed and explained in the financial statements;

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

Method of preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of trustees on 20 September 2022.

Roger Couch Director and Trustee

Crawford Mcleary Director and Trustee

Cardigan Bay Watersports Independent Examiner's Report to the trustees of the charity

Report of the Independent Examiner to the trustees

on the accounts of the Charity for the year ended 31 December 2021

I report on the financial statements of the Charity on pages 9 to 19 for the year ended 31 December 2021 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard for Smaller Entities (FRSSE), effective April 2008, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 as modified in June 2008. (The SORP), under the historical cost convention and the accounting policies set out on page 14.

Respective responsibilities of trustees and examiner

As described on page 6, the Charity's trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements.

The trustees are satisfied that the audit requirement of Section 144(1) of the Act does not apply and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to section 476 of the Companies Act 2006, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the charity is not subject to audit under company law, or otherwise, and is eligible for independent examination, it is my responsibility to:-

a) examine the accounts under section 145 of the Act;

b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and;

c) to state whether particular matters have come to my attention.

Basis of opinion and scope of work undertaken

I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales setting out the duties of an independent examiner issued by the Charity Commissioners under section 145(5)(b) of the Act) in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.

The procedures undertaken do not provide all the evidence that would be required in an audit , and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtain written assurances from the trustees of all material matters.

Cardigan Bay Watersports Independent Examiner's Report to the trustees of the charity

Independent Examiner's Statement, report and opinion

Subject to the limitations upon the scope of my work as detailed above , in connection with my examination , I can confirm that

1) In accordance with Regulation 31 of The Charities (Accounts and Reports) Regulations 2008, (The Regulations) the accounts of this incorporated charity are not required to be audited under Part 16 of the Companies Act 2006;

2) this is a report in respect of an examination carried out under section 145 of the Act and in accordance with any directions given by the Commission under subsection (5)(b) of that section which are applicable;

and that, no matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements

(i) to keep accounting records in accordance with section 386 of the Companies Act 2006; (ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and;

(iii) that the financial statements be prepared in accordance with the methods and principles set out in the Statement of Recommended Practice - Accounting and Reporting by Charities have not been met; or

to which, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached;

The Examiner's relevant professional qualification or body is: Accountant

Martin Davies Pibydd y Traeth Bro Nantcellan, Clarach Aberystwyth Ceredigion SY23 3PH

The date upon which my opinion is expressed is :- 20 September 2022

Cardigan Bay Watersports Statement of Financial Activities for the year ended 31 December 2021

	Unrestricted	Restricted	Total	Last Year
	Funds	Funds	Funds	Total Funds
Notes	2021	2021	2021	2020
	£	£	£	£
Incoming resources
*Incoming resources from generated funds*
Voluntary Income	22,752	-	22,752	30,428
Investment Income	7	-	7	47
*Incoming resources from charitable activities*	131,789	-	131,789	37,422
*Other Incoming Resources*	665	-	665	1,952
Total incoming resources	155,213	-	155,213	69,849
*Costs of charitable activities*	130,178	-	130,178	86,965
Total resources expended	130,178	-	130,178	86,965
Net incoming resources/(net outgoing resources)
before transfers between funds	25,035	-	25,035	(17,116)
Gross transfers between funds	-	-	-	-
Net incoming resources/(net outgoing resources)	before
Other recognised gains and losses	25,035	-	25,035	(17,116)

Other recognised gains and losses
Net movement in funds	25,035	-	25,035	(17,116)
Reconciliation of funds
*Total funds brought forward*	108,530	-	108,530	125,646
Total Funds carried forward	133,565	-	133,565	108,530

The net movement in funds referred to above is the net incoming resources as defined in the SORP and is reconciled to the total funds as shown in the Balance Sheet on page 12 as required by the SORP.

All activities derive from continuing operations

The notes on pages 14 to 19 form an integral part of these accounts.

Cardigan Bay Watersports Statement of Financial Activities for the year ended 31 December 2021

Income and Expenditure Account as required by the Companies Act for the year ended 31 December 2021

Turnover Direct costs of turnover Gross surplus/(deficit) Operating surplus/(deficit) Gains on disposals of fixed assets Other income Interest receivable Surplus/(deficit) on ordinary activities before tax Surplus/(deficit) for the financial year Gift Aid Payments Retained surplus/(deficit) for the financial year All activities derive from continuing operations	2021 £ 154,541 130,178 24,363 24,363 665 - 7 25,035 25,035 - 25,035	2020 £ 67,850 86,965 (19,115) (19,115) 1,952 - 47 (17,116) (17,116) - (17,116)

The notes on pages 14 to 19 form an integral part of these accounts.

Cardigan Bay Watersports Statement of Financial Activities for the year ended 31 December 2021 Statement of Total Recognised Gains and Losses for the year ended 31 December 2021

for the year ended 31 December 2021
				2021	2020
Excess of income over expenditure before realisation of assets				24,370	(19,068)
Gains on disposals of fixed assets used by Charity				665	1,952
Loss per Profit and Loss account				25,035	(17,116)
Grants for the acquisition of fixed assets				-	-
Net Movement in funds before taxation				25,035	(17,116)
Movements in revenue and capital funds
for the year ended 31 December 2021
Revenue accumulated funds			Unrestricted	Restricted	Total	Last year
Accumulated funds brought forward			Funds 2021 £ 108,530	Funds 2021 £ -	Funds 2021 £ 108,530	Total Funds 2020 £ 124,889
Recognised gains and losses before transfers			25,035	-	25,035	(17,116)
			133,565	-	133,565	107,773
Closing revenue accumulated funds			133,565	-	133,565	107,773
Fixed asset funds			Designated	Restricted	£ Total	£ Last year
At 1 January			Funds 2021 £ -	Funds 2021 £ -	Funds 2021 £ -	Total Funds 2020 £ 757
Transfer (to)/from revenue accumulated funds			-	-	-	(757)
At 31 December			-	-	-	-
Summary of funds	Designated		Unrestricted	Restricted	Total	Last Year
		Funds	Funds	Funds	Funds	Total Funds
		2021	2021	2021	2021	2020
Revenue accumulated funds		-	133,565	-	133,565	108,530

The notes on pages 14 to 19 form an integral part of these accounts.

05731116

Cardigan Bay Watersports Company Number Balance Sheet as at 31 December 2021

Notes Fixed assets Intangible assets Tangible assets 8 *Total fixed assets* Current assets Debtors 9 Cash at bank and in hand *Total current assets* Creditors:- amounts due within one year 10 *Net current assets* *Total assets less current liabilities* Creditors:- amounts due after more than one year 11 *Net assets excluding pension asset / liability* Net assets *The funds of the charity :* Unrestricted income funds Unrestricted revenue accumulated funds Designated revenue funds Unrestricted capital funds Designated fixed asset funds Total unrestricted funds Restricted revenue funds Restricted fixed asset funds Total restricted funds Total charity funds	£ £ - 61,314 61,314 3,692 98,432 102,124 (16,384) 85,740 147,054 (13,489) 133,565 133,565 133,565 - - 133,565 - 133,565 2021	£ £ - 63,219 63,219 1,873 59,947 61,820 (3,020) 58,800 122,019 (13,489) 108,530 108,530 108,530 - - 108,530 - 108,530 2020

Cardigan Bay Watersports Company Number Balance Sheet as at 31 December 2021

05731116

The directors are satisfied that for the year ended on 31 December 2021 the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 7.

The director(s) acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities ( effective April 2008).

Roger Couch Trustee Approved by the board of trustees on 20 September 2022

The notes on pages 14 to 19 form an integral part of these accounts.

Cardigan Bay Watersports Notes to the Accounts for the year ended 31 December 2021

1 Accounting policies

Basis of preparation of the accounts

The financial statements have been prepared in accordance with all applicable accounting standards, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 (revised June 2008) (The SORP). The accounts have been drawn up in accordance with the provisions of the Charities (Accounts and Reports) Regulations 2008 and the Companies Acts, and include the results of the charity's operations which are described in the Trustees' Report, all of which are continuing.

Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the company's operation and in order to comply with the requirements of the SORP.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.

The particular accounting policies adopted are set out below.

Accounting convention

The financial statements are prepared,on a going concern basis, under the historical cost convention

Incoming Resources

Incoming resources are accounted for on a receivable basis.

Investment Income

Bank Interest received is included on an actual receipts basis.

Deferred income

In accordance with the SORP grants received in advance and specified by the donor as relating to specific accounting periods or alternatively which are subject to conditions which are still to be met, and which are outside the control of the charity or where it is uncertain whether the conditions can or will be met, are deferred on an accruals basis to the period to which they relate. Such deferrals are shown in the notes to the accounts and the sums involved are shown as creditors in the accounts.

Recognition of liabilities

Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the SORP.

Resources Expended

The policy for including items within the relevant activity categories of resources expended is set out below.

In particular the policy for including items within costs of generating funds, charitable activities and governance costs is:

Cardigan Bay Watersports Notes to the Accounts for the year ended 31 December 2021

Costs of generating funds

There are no costs that are attributable to the generating of funds.

Charitable activities

Charitable expenditure shall include all expenditure directly related to the objects of the charity.

Governance costs

Governance costs shall include all expenditure directly related to the administration of the charity including expenditure incurred in the management of the charity's assets, organisational administration and compliance with charitable and statutory requirements.

Allocation of costs within types of resources expended

The methods and principles for the allocation and apportionment of all costs between the different activity categories of resources set out above are based on the test of whether a cost directly contributes to the particular related source of income.Such identifiable costs are apportioned to the specific activity, whereas all other costs are allocated to support costs of charitable activities.

Resources expended include attributable VAT if such VAT cannot be recovered

Fixed assets and depreciation

All tangible fixed assets are stated at cost less depreciation.

Depreciation has been provided at the following rates in order to write off the assets (less their estimated residual value ) over their estimated useful economic lives.

Leasehold land and buildings 4.76% straight line, over remaining term of lease Equipment 6.67% to 33% straight line Boats 6.67% to 20% straight line

Capital grants

The board of trustees consider that , in order to comply with the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales (revised June 2008), gifts of tangible fixed assets or grants of a capital nature given for specific purposes and fully utilised in the furtherance of the objects of the charity should be credited to the relevant fixed asset fund after the sums have been properly expended on the restricted purpose. The related asset is shown in the balance sheet at the full cost of acquisition or subsequent revaluation.

If the related assets are subject to restrictions by the grant making organisation on their use and disposal, then these restrictions are noted in the fixed asset section of these accounts. In such circumstances, the fixed asset fund created is treated as a restricted fixed asset fund. As the related assets are depreciated, then a transfer is made from restricted fixed asset funds to unrestricted revenue reserves to reflect the dimunition in the asset subject to the restriction.In this year (and in the previous year), there were no transfers from restricted fixed asset funds to unrestricted revenue reserves.

If the related assets are not subject to restrictions by the grant making organisation on their use and disposal, then the fixed asset fund created is treated as a designated fixed asset fund. As the related assets are depreciated, then a transfer is made from designated fixed asset funds to unrestricted revenue reserves to reflect the dimunition in the asset.In this year, a sum of £757 (prior year £5,195) was transferred from designated fixed asset funds to unrestricted revenue reserves.

Cardigan Bay Watersports Notes to the Accounts for the year ended 31 December 2021

Any residual liability to the donor arising from, for example, the asset’s future sale, is disclosed as a contingent liability unless the event that would trigger repayment of the grant becomes probable in which case a liability for repayment is recognised

Insofar as this policy relates to Government grants and to the extent that it may be a departure from the Statement of Standard Accounting Practice Number 4, such departure is justified on the basis that it is in order to comply with the Statement of Recommended Practice for Accounting and Reporting (revised June 2008) issued by the Charity Commissioners for England & Wales.

Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is recoverable by the company , and is therefore not included in the relevant costs in the Statement of Financial Activities.

Funds structure policy

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to monitor carefully the application of those funds in accordance with the restrictions placed upon them.

2 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

Surplus/(deficit) for the financial year	2021	2020
	£	£
This is stated after crediting :-
Revenue Turnover from ordinary activities	154,541	67,850
and after charging:-
Depreciation of owned fixed assets	14,667	15,133

4 Detailed analysis of certain transactions required by the 2005 revision to the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales (effective April 2005 and revised May 2008)

Various items which are required by the SORP to be disclosed in the notes to the accounts are set out in the Detailed Schedule to the Statement of Financial Activities and its appendices on pages 20 to 23, which should be read together with these notes.

5 Material legacies that have been notified but not included in the Statement of Financial Activities None

Cardigan Bay Watersports Notes to the Accounts for the year ended 31 December 2021

6
Investment Income
2021
£
Bank deposit interest received
7
7
Staff Costs and Emoluments
2021
£
Gross Salaries
79,770
Pension Contributions
914
80,684
Numbers of full time employees or full time equivalents
2021
Engaged on charitable activities
4.5
There were no fees or other remuneration paid to the trustees
There were no employees with emoluments in excess of £60,000 per annum

2020
£
47
2020
£
48,553
-
48,553
2020
4.5

8 Tangible functional fixed assets

Leasehold Land and buildings Boats £ £ Asset cost, valuation or revalued amount At 1 January 2021 76,259 150,112 Additions - 11,168 Disposals - (2,370) At 31 December 2021 76,259 158,910 Accumulated depreciation and impairment provisions At 1 January 2021 49,931 117,420 Eliminated on disposals - (2,370) Charge for the year 3,632 8,537 At 31 December 2021 53,563 123,587 Net book value At 31 December 2021 22,696 35,323 At 31 December 2020 26,328 32,692	Equipment £ 27,691 1,594 - 29,285 23,492 - 2,498 25,990 3,295 4,199	Total £ 254,062 12,762 (2,370) 264,454 190,843 (2,370) 14,667 203,140 61,314 63,219

All assets are used for direct charitable purposes and there are no inalienable or heritage assets.

Cardigan Bay Watersports Notes to the Accounts for the year ended 31 December 2021

9	Debtors	2021	2020
		£	£
	Trade debtors	997	-
	Other Debtors	756	1,873
	Taxation Recoverable	1,939	-
		3,692	1,873
10	Creditors: amounts falling due within one year Trade creditors Accrued expenses Pension contributions payable Other taxes	2021 £ 191 15,619 - 574	2020 £ - 2,640 - 380
		16,384	3,020
11	Creditors :- Amounts Falling due after one year	2021	2020
12	Bank loans and overdrafts Assets and liabilities held by the charity as an intermediary agent	£ 13,489	£ 13,489
13	and not included in the Balance Sheet Assets and liabilities held by the charity as an intermediary agent None
14	that are included in the Balance Sheet Analysis of the Net Movement in Funds Net movement in funds from Statement of Financial Activities Net resources applied on functional fixed assets None	2021 £ 24,370 (16,837)	2020 £ (19,068) (27,498)
	Net movement in funds available for future activities	7,533	(46,566)
	The net resources applied on functional fixed assets and the net investment in programme related
	investments represents the cost of additions less proceeds of any disposals.

Cardigan Bay Watersports Notes to the Accounts

for the year ended 31 December 2021

Particulars of Individual Funds and analysis of	Particulars of Individual Funds and analysis of	Particulars of Individual Funds and analysis of	assets and liabilities representing funds	assets and liabilities representing funds	assets and liabilities representing funds
At 31 December 2021	Unrestricted		Designated	Restricted	Total
		funds	funds	funds	Funds
		£	£	£	£
Tangible Fixed Assets		61,314	-	-	61,314
Current Assets		102,124	-	-	102,124
Current Liabilities		(16,384)	-	-	(16,384)
Long Term Liabilities		(13,489)	-	-	(13,489)
		133,565	-	-	133,565
At 1 January 2021	£ Unrestricted		£ Designated	£ Restricted	£ Total
Tangible Fixed Assets		funds 76,521	funds -	funds 26,001	Funds 63,219
Current Assets		61,820	-	-	61,820
Current Liabilities		(3,020)	-	-	(3,020)
Long Term Liabilities		(13,489)	-	-	(13,489)
		108,530	-	-	108,530

The individual funds included above are :-

Watersports Analysis of movements in funds Watersports	Funds at Movements 2020 in Funds as below £ £ 108,530 25,035 108,530 25,035 as shown in the table above Incoming Outgoing Resources Resources £ £ 155,213 (130,178) 155,213 (130,178)	Transfers Between funds £ - - Gains & Losses £ - -	Funds at 2021 £ 133,565 133,565 Movement in funds £ 25,035 25,035

16 Endowment Funds

The charity had no endowment funds in the year ended 31st December 2021 or in the year ended 31st December 2020.

17 Share Capital

The charity is incorporated under the Companies Acts and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.

Cardigan Bay Watersports Schedule to the Statement of Financial Activities for the year ended 31 December 2021 Status of this schedule to the Statement of Financial Activities

This schedule is an intrinsic part of the accounts required to comply with the 2008 Revision of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, revised June 2008. However, it is not a part of the statutory accounts required under the provisions of the Companies Act 2006 in relation to incorporated charities.

Incoming Resources
Incoming Resources from generated funds
Voluntary Income
Grants, legacies and donations
Government and public bodies
Incoming resources of a revenue nature
Job Retention Grant
Coastal Communities Fund
Sports Council Wales
Other
Sportslot
Resilience Fund Grant
Firebreak Grant
insert text and figures to agree to total - see proof line
insert text and figures to agree to total - see proof line
Total
Total Grants,Legacies & Donations Received
Total Voluntary Income
Bank deposit interest received
Total Investment Income
Incoming resources from charitable activities
Primary purpose trading
Total Incoming resources from
charitable activities
Other Incoming Resources
Gains on disposals of fixed assets used by Charity
Exceptional income
Total Incoming Resources
Direct support costs
Gross wages and salaries - charitable activities
Salaries,pensions & NI recharged to other organisations

UnrestrictedRestricted
Total
Prior Period
Funds
Funds
Funds
Total Funds
2021
2021
2021
2020
£
£
£
£
6,050
-
6,050
17,928
13,912
-
13,912
-
2,590
-
2,590
-
200
-
200
-
-
-
-
1,500
-
-
-
10,000
-
-
-
1,000
-
-
-
-
-
-
-
-
22,752
-
22,752
30,428
22,752
-
22,752
30,428
22,752
-
22,752
30,428
7
-
7
47
7
-
7
47
131,789
-
131,789
37,422
131,789
-
131,789
37,422
665
-
665
1,952
-
-
-
-
665
-
665
1,952
155,213
-
155,213
69,849
79,770
-
79,770
48,553
914
-
914
773

Cardigan Bay Watersports Schedule to the Statement of Financial Activities for the year ended 31 December 2021 Status of this schedule to the Statement of Financial Activities

Resource Costs
Management and administration costs
in support of charitable activities
Indirect employee costs
Training and welfare
Premises Costs
Rates, water and service charges
Insurance
Light and heat
General administrative expenses:
Telephone
Stationery and printing
Log books and certificates
Subscriptions
Equipment expenses
Health and safety costs
Web site and internet costs
Advertising and PR
Bank charges
Sundry expenses
Professional fees in support of charitable activities
Accountancy fees other than examiners/auditors
Licences and permits
Other support costs
Depreciation of assets used for charitable purposes

UnrestrictedRestricted
Total
Prior Period
Funds
Funds
Funds
Total Funds
2021
2021
2021
2020
£
£
£
£
75
-
75
41
80,759
-
80,759
49,367
4,675
-
4,675
2,734
4,675
-
4,675
2,734
403
-
403
266
5,576
-
5,576
6,239
1,185
-
1,185
767
7,164
-
7,164
7,272
681
-
681
581
307
-
307
236
1,095
-
1,095
85
506
-
506
65
10,143
-
10,143
4,096
60
-
60
1,243
930
-
930
1,425
262
-
262
247
4,879
-
4,879
1,422
1,035
-
1,035
182
19,898
-
19,898
9,582
2,220
-
2,220
2,220
795
-
795
657
3,015
-
3,015
2,877
14,667
-
14,667
15,133
14,667
-
14,667
15,133

Cardigan Bay Watersports Schedule to the Statement of Financial Activities for the year ended 31 December 2021 Status of this schedule to the Statement of Financial Activities

	UnrestrictedRestricted	UnrestrictedRestricted	Total	Prior Period
	Funds	Funds	Funds	Total Funds
	2021	2021	2021	2020
	£	£	£	£
Total Support costs	130,178	-	130,178	86,965
*Support costs for grants paid*
Costs reallocated from charity support costs	-	-	-	-
Total Expended on Charitable Activities	130,178	-	130,178	86,965
*Governance costs that are not direct management functions*		*inherent*	*in generating*
*funds, service delivery and programme or project work*
*Analysis of transfers between funds*
Transfer to/(from) unrestricted to be analysed further	-	-	-	757
Transfer to/(from) res fix ass to be analysed further	-	-	-	(757)

Appendices to the Statement of Financial Activities

Cardigan Bay Watersports Schedule to the Statement of Financial Activities for the year ended 31 December 2021 Status of this schedule to the Statement of Financial Activities

UnrestrictedRestricted	UnrestrictedRestricted	Total	Prior Period
Funds	Funds	Funds	Total Funds
2021	2021	2021	2020
£	£	£	£

for the year ended 31 December 2021

The following appendices are attached to detail the activity analysis required by the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, revised June 2008.

1. Analysis of Total Incoming & Outgoing Resources by Activity

2. Analysis of Total Support Costs by Activity

3. Analysis of charitable expenditure by activity