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|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|
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||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|
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||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|||||
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||Allincomefunds||
|---|---|---|
||2021|2020|
||â|Ê|
|Gross income|141,040|198,693|
|Totalexpenditurefromincomefunds|133,083|400,909|
|Netincome/(expenditure)forthe year|7,957|(202,216)|
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|||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|
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|lnvestments|||
|---|---|---|
||UnrestrictedUnrestricted||
||funds|funds|
||2021|2020|
||Ê.|â|
|lncomefrom listedinvestments|141,029|197,147|
|Other incomefrominvestments|11|1,546|
||141,040|198,693|
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|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|
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|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|
|||:|
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|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|
|||||||:|
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|2021|2020|
|---|---|
|Number|Number|
||EndowmentEndowment|EndowmentEndowment|
|---|---|---|
||funds|funds|
||general
2021|general
2020|
|Portfoliomanagement|29,316|32,219|
||29,316|32,219|
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|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)|
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||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|
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|Debtors|||
|---|---|---|
||2021|2020|
|Amountsfallingduewithinoneyear:|t|Ê|
|Prepayments andaccruedincome|6,825|7,294|
|Gurrentasset investments|||
||2021|2020|
||e|t|
|Unlisted investments|241,128|211,158|
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|Creditors: amountsfallingduewithinoneyear|||
|---|---|---|
||2021|2020|
||t|t|
|Other creditors|25,100|150,000|
|Accruals anddeferredincome|5,141|5,825|
||30,241|155,825|
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|||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|
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|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|
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