| Trustees | MrLBonham |
|---|---|
| Mr S J Chipperfield | |
| Mr BPCussons | |
| Ms N Levin | |
| MrDJListerMBE | |
| MrCN Riley | |
| Chair of Trustees | MrCN Riley |
| Secretary | Mr BPCussons |
| Gharitynumber | 1119576 |
| Companynumber | 06261 868 |
| Registeredoffice | Coganhayes |
| Buckerell | |
| Honiton | |
| Devon | |
| EX14 3ER | |
| Auditor | Simpkins EdwardsLLP |
| Michael House | |
| Castle Street | |
| Exeter | |
| Devon | |
| EX4 3LQ | |
| Bankers | TriodosBank |
| Deanery Road | |
| Bristol | |
| BS1 5AS | |
| Solicitors | Bates, Wells & Braithwaite |
| 10QueenStreetPlace | |
| London | |
| EC4R 5AS | |
| lnvestment advisors | lnvestec Wealth and lnvestment Limited |
| 2 Gresham Street | |
| London | |
| EC27QP | |
| Veritas lnvestment Management LLP | |
| 90LongAcre | |
| London | |
| WC2EgRA |
| Page | |
|---|---|
| Trustees'report | 1-5 |
| Statementoftrustees'responsibilities | 6 |
| lndependentauditor's report | 7-9 |
| Statement of financial activities | 10 |
| Summaryincome and expenditure account | 11 |
| Balancesheet | 12-13 |
| Notes to the financial statements | 14-22 |
| UnrestrictedEndowment | UnrestrictedEndowment | UnrestrictedEndowment | TotalUnrestrictedEndowment | TotalUnrestrictedEndowment | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Notes | 2021 Ê |
2021 € |
2021 2020 ÊÊÊ |
2020 | 2020 â |
|
| lncomefrom: | ||||||
| lnvestments | 3 | 141,040 | 141,040198,693 | 198,693 | ||
| Expenditureon: Charitable activities |
4 | 133,083 | 133,083400,909 | 400,909 | ||
| Other | 9 | 29,316 | 29,316 | 32,219 | 32,219 | |
| Totalresources expended |
133,083 29,316 | 162,399400,909 32,219 | 433,128 | |||
| Net gains/(losses)on investments |
10 | 871,305 | 871,305 | (28,034)(28,034) | ||
| Net movement infunds | 7,957 | 841,989 | 849,946 (202,216)(60,253) | (262,469) | ||
| Fund balancesat1 | ||||||
| June 2020 | 151,182 6,559,1646,710,346353,3986,619,4176,972,815 | |||||
| Fund balances at31 | ||||||
| May2021 | 159,139 7,401,1537,560,292151,182 6,559,1646,710,346 |
| Allincomefunds | ||
|---|---|---|
| 2021 | 2020 | |
| â | Ê | |
| Gross income | 141,040 | 198,693 |
| Totalexpenditurefromincomefunds | 133,083 | 400,909 |
| Netincome/(expenditure)forthe year | 7,957 | (202,216) |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | Ê | Ê | Ê | Ê | |
| Fixed assets | |||||
| lnvestments | 11 | 7,304,560 | 6,640,453 | ||
| Gurrent assets | |||||
| Debtors | 12 | 6,825 | 7,294 | ||
| lnvestments | 13 | 241,128 | 211,158 | ||
| Cash at bank and in hand | 38,020 | 7,266 | |||
| 285,973 | 225,718 | ||||
| Creditors: amountsfallingduewithin | |||||
| oneyear | 14 | (30,241) | (155,825) | ||
| Net current assets | 255,732 | 69,893 | |||
| Total assets lesscurrent liabilities | 7,560,292 | 6,710,346 | |||
| Gapitalfunds | |||||
| Endowment funds - general | |||||
| General endowmentfunds | 7,401,153 | 6,559,164 | |||
| 7,401,153 | 6,559,164 | ||||
| Permanent endowment | |||||
| Expendable endowment | 7,401,153 | 6,559,164 | |||
| 15 | 7,401,153 | 6,559,164 | |||
| lncomefunds | |||||
| Unrestricted funds | 159,139 | 151,182 | |||
| 7,560,292 | 6,710,346 |
| lnvestments | ||
|---|---|---|
| UnrestrictedUnrestricted | ||
| funds | funds | |
| 2021 | 2020 | |
| Ê. | â | |
| lncomefrom listedinvestments | 141,029 | 197,147 |
| Other incomefrominvestments | 11 | 1,546 |
| 141,040 | 198,693 |
| Charitableactivities | ||
|---|---|---|
| CharitableCharitable | ||
| Expenditure Expenditure 2021 2020 ÊÊ |
||
| Grantfundingofactivities(see note5) | 109,522 | 378,164 |
| Share of supportcosts(see note6) | 18,121 | 19,177 |
| Share ofgovernancecosts (see note 6) | 5,440 | 3,568 |
| 133,083 | 400,909 |
| Grantspayable | ||
|---|---|---|
| Gharitable | Charitable | |
| ExpenditureExpenditure 2021 2020 Ê[ |
||
| Grants to institutions: | ||
| Mylor Sailability | 2,000 | |
| WestminsterBoatingBsse | 7,500 | |
| All-Aboard!WaterSport andWater RecreationalActivity( Bristol) | 5,000 | |
| The Venture Trust | 10,000 | |
| Andrew Cassell Foundation (Racing fortrheDisabled) | 5,000 | |
| Thomas MorleyTrust(Disabled Sailors Association) | 5,000 | |
| PlymouthSports CharityLimited | 5,000 | |
| lsland Trust | 10,000 | |
| lslington Boat Club | 6,560 | |
| Portadown Boat Club | 3,000 | |
| AtlanticPacificlnternationalRescue Limited | 3,000 | |
| Somerford YouthandCommunity Centre | 4,100 | |
| SaltpondEducationProject | 2,664 | |
| Seachange | 6,420 | 6,438 |
| Seashell Trust | 4,965 | |
| Secchi Disk | 2,000 | |
| Sporting Challenge | 1,000 | |
| TheAhoyCentre | 10,000 | |
| Longridge on the Thames | 5,000 | |
| TheKepplewrayTrust | 4,000 | |
| UKSA | 300,000 | |
| Visionofadventure | 3,59r | |
| OYT North | 5,200 | |
| Chicks | 2,000 | |
| Morning Star | 7,663 | |
| OYT South | 10,000 | 5,500 |
| Portsmouth Sailing Trust | 5,000 | 5,000 |
| TheMarineSocietyand Sea Cadets | 9,800 | |
| Helford River | 7,500 | |
| DSSUK | 3,874 | |
| YouthAdventure Trust | 6,337 | 5,304 |
| AgoonoreeScout Camp | 2,000 | |
| Sports Forum fortheDisabled | 5,000 | |
| Outfit Morray | 2,500 | |
| VisuallylmpairedSailing Association | 3,770 | |
| Boleh | 3,000 | |
| 109,522 | 392,164 | |
| : |
| Support costs | ||||||
|---|---|---|---|---|---|---|
| SupportGovernance costs costs €Ê |
2021 € |
SupportGovernance costs costs ee |
2020 î |
|||
| Website costs | 3,818 | 3,818 | 1,209 | 1,209 | ||
| Office costs | 388 | 388 | ||||
| Trustees' expenses | 1,281 | 1,281 | ||||
| Cost of trustees' | ||||||
| meetings | 927 | 927 | ||||
| Secretarial | 12,532 | 12,532 | 13,565 | 13,565 | ||
| Bookkeeping | 618 | 618 | 704 | 704 | ||
| Annualreturn | 13 | 13 | 13 | 13 | ||
| Bank charges | 30 | 30 | 39 | 39 | ||
| lnsurance | 722 | 722 | 1,439 | 1,439 | ||
| Audit fees | 3,090 | 3,090 | 3,144 | 3,144 | ||
| Legal and professional | 2,350 | 2,350 | 424 | 424 | ||
| 18,121 | 5,440 | 23,561 | 19,177 |
3,568 | 22,745 | |
| : | ||||||
| Analysedbetween Charitable activities |
18,121 | 5,440 | 23,561 | 19,177 |
3,568 | 22,745 |
| : |
| 2021 | 2020 |
|---|---|
| Number | Number |
| EndowmentEndowment | EndowmentEndowment | |
|---|---|---|
| funds | funds | |
| general 2021 |
general 2020 |
|
| Portfoliomanagement | 29,316 | 32,219 |
| 29,316 | 32,219 |
| Netgains/(losses) on investments | ||
|---|---|---|
| EndowmentEndowment | ||
| funds | funds | |
| general 2021 ÊÊ |
general 2020 |
|
| Revaluation of investments | 791,727 | (52,406) |
| Gain on sale of investments | 79,578 | 24,372 |
| 871,305 | (28,034) |
| Listed | |
|---|---|
| investments | |
| Ê | |
| Gostor valuation | |
| AtIJune 2020 | 6,640,453 |
| Additions | 975,175 |
| Valuation changes | 871,307 |
| Disposal proceeds | (1,182,375) |
| At31May 2021 | 7,304,560 |
| Carrying amount | |
| Al31May 2021 | 7,304,560 |
| At31 May 2020 | 6,640,453 |
| Debtors | ||
|---|---|---|
| 2021 | 2020 | |
| Amountsfallingduewithinoneyear: | t | Ê |
| Prepayments andaccruedincome | 6,825 | 7,294 |
| Gurrentasset investments | ||
| 2021 | 2020 | |
| e | t | |
| Unlisted investments | 241,128 | 211,158 |
| Creditors: amountsfallingduewithinoneyear | ||
|---|---|---|
| 2021 | 2020 | |
| t | t | |
| Other creditors | 25,100 | 150,000 |
| Accruals anddeferredincome | 5,141 | 5,825 |
| 30,241 | 155,825 |
| Movement infunds | Movement infunds | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balanceat 1June2019 |
lncoming ResourcesTransfers resourcesexpended |
Revaluations gainsand |
Balanceat IJune2020 |
lncoming ResourcesTransfers resourcesexpended |
Revaluations gainsand |
Balanceat 31 May202'l |
||||
| losses | losses | |||||||||
| t | â | â | f | â | Ê | I | f | â | f | € |
| Expendable endowments | ||||||||||
| 6,619,417 | (32,219) | (28,034) | 6,559,164 | (2e,316) | 871,305 | 7,401,153 | ||||
| 6,619,417 | (32,21e) | (28,034) | 6,559,164 | (2e,316) | 871,305 | 7,401,153 |
| Analysis of net asset | sbetweenfunds | sbetweenfunds | ||||
|---|---|---|---|---|---|---|
| Unrestricted Endowment funds funds |
TotalUnrestrictedEndowment funds funds |
Total | ||||
| 2021 Êâ |
2021 |
2021 t[f |
2020 | 2020 |
2020 f |
|
| Fund balances at31 | ||||||
| May 2021are | ||||||
| representedby: lnvestments |
- | 7,304,560 | 7,304,560 | 81,289 | 6,559,164 | 6,640,453 |
| Currentassets/ (liabilities) |
159,139 | 96,593 | 255,732 | 69,893 | 69,893 | |
| 159,139 | 7,401,153 | 7,560,292 | 151,182 | 6,559,164 | 6,710,346 |