##
|Trustees||Mr L Bonham|||||
|---|---|---|---|---|---|---|
|||Mr SJ Chipperfield|||||
|||Mr B P Cussons|||||
|||Ms N Levin|||||
|||Mr DJ Lister MBE|||||
|||Mr C N Riley|||||
|Chair ofTrustees||Mr C N Riley|||||
|Secretary||Mr B P Cussons|||||
|Charity number||1119576|||||
|Company|number|06261868|||||
|Registered|office|Coganhayes|||||
|||Buckerell|||||
|||Honiton|||||
|||Devon|||||
|||EX143ER|||||
|Auditor||Simpkins
Edwards||Audit LLP|||
|||The Summit|||||
|||Woodwater
Park|||||
|||Pynes
Hill|||||
|||Exeter|||||
|||EX2 5WS|||||
|Bankers||Triodos Bank|||||
|||Deanery Road|||||
|||Bristol|||||
|||BS15AS|||||
|Solicitors||Bates, Wells 8|Braithwaite||||
|||10Queen Street Place|||||
|||London|||||
|||EC4R 5AS|||||
|Investment|advisors|Investec Wealth and Investment||||Limited|
|||2 Gresham
Street|||||
|||London|||||
|||EC2 7QP|||||
|||Veritas Investment||Partners|(UK)|Limited|
|||Riverside
House|||||
|||2a Southwark|Bridge Road||||
|||London|||||
|||SE1 9HA|||||
##
||||Page|
|---|---|---|---|
|Trustees'
report|||1-5|
|Statement oftrustees'|responsibilities|||
|Independent
auditor's|report||7-9|
|Statement offinancial|activities||10|
|Summary
income and|expenditure|account||
|Balance sheet|||12-13|
|Notes to the financial|statements||14-23|
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|||||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||||2023|2023||2022|2022|2022|
||||Notes|||||||
|Income from:||||||||||
|Investments||||127,909||127,909|129,826||129,826|
|Total income||||127,909||127,909|129,826||129,826|
|Expenditure
on:||||||||||
|Charitable
activities||||200,664||200,664|399,277||399,277|
|Other expenditure|||||26,845|26,845||28,452|28,452|
|Total expenditure||||200,664|26,845|227,509|399,277|28,452|427,729|
|Net gains/(losses)||on||||||||
|investments|||||(90,718)|(90,718)||105,368|105,368|
|Net expenditure||||(72,755)|(117,563)|(190,318)|(269,451)|76,916|(192,535)|
|Transfers
between||||||||||
|funds||||200,000|(200,000)||300,000|(300,000)||
|Net movement|in|||||||||
|funds||||127,245|(317,563)|(190,318)|30,549|(223,084)|(192,535)|
|Reconciliation|of|funds:||||||||
|Fund balances at 1 June|||2022|189,688|7,178,069|7,367,757|159,139|7,401,153|7,560,292|
|Fund balances|at|31 May||||||||
|2023||||316,933|6,860,506|7,177,439|189,688|7,178,069|7,367,757|
##
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||||||All income funds||
|---|---|---|---|---|---|---|
||||||2023|2022|
|Gross income|||||127,909|129,826|
|Transfer from|endowment||funds||200,000|300,000|
|Total income|in|the reporting||period|327,909|429,826|
|Total expenditure||from income funds|||200,664|399,277|
|Net income for||the year|||127,245|30,549|
##
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##
|||||||2023||2022||
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|||||
|Fixed assets||||||||||
|Investments|||||12||7,141,037||7,349,796|
|Current assets||||||||||
|Debtors|||||13|7,237||6,848||
|Investments|||||14|26,421||57,919||
|Cash at bank and||in|hand|||67,936||10,745||
|||||||101,594||75,512||
|Creditors:|amounts||falling due within|||||||
|one year|||||15|(65,192)||(51,551)||
|Net current|assets||||||36,402||23,961|
|Total assets less||current||liabilities|||7,177,439||7,373,757|
|Creditors:|amounts||falling due after|||||||
|more than|one year||||16||||(6,000)|
|Net assets|||||||7,177,439||7,367,757|
|Capital funds||||||||||
|Endowment|funds|-|eneral|||||||
|General endowment|||funds|||6,860,506||7,178,069||
|||||||6,860,506||7,178,069||
|Permanent|endowment|||||||||
|Expendable|endowment|||||6,860,506||7,178,069||
||||||17||6,860,506||7,178,069|
|Income funds||||||||||
|Unrestricted|funds||||||316,933||189,688|
||||||||7,177,439||7,367,757|
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||Unrestricted|Unrestricted|
|---|---|---|
||funds|funds|
||2023|2022|
|Income from listed investments|127,292|129,796|
|Other income from investments|617|30|
||127,909|129,826|
##
##
|||||Charitable|Charitable|
|---|---|---|---|---|---|
|||||activities|activities|
|||||2023|2022|
|Direct costs||||||
|Grant funding|of|activities (see note|6)|160,494|369,093|
|Share ofsupport||and governance|costs (see note 5)|||
|Support||||23,370|20,884|
|Governance||||16,800|9,300|
|||||200,664|399,277|
|Analysis
by|fund|||||
|Unrestricted|funds|||200,664|399,277|
|Support costs allocated to activities||||||
|||||2023|2022|
||||||E|
|Website costs||||3,151|4,196|
|Office costs||||375|233|
|Trustees' expenses||||929|751|
|Cost oftrustees'||meetings||3,114|954|
|Secretarial||||13,941|13,342|
|Bookkeeping||||1,114|690|
|Annual
return||||13|13|
|Bank charges||||40|39|
|Insurance||||693|666|
|Governance|costs|||16,800|9,300|
|||||40,170|30,184|
|Analysed
between:||||||
|Charitable
activities||||40,170|30,184|
|||||2023|2022|
|Governance|costs comprise:||||f|
|Audit fees||||3,300|3,300|
|Legal and professional||||13,500|6,000|
|||||16,800|9,300|
##
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|Grants payable|||||||||
|---|---|---|---|---|---|---|---|---|
||||||||Charitable|Charitable|
||||||||Expenditure|Expenditure|
||||||||2023|2022|
|Grants to institutions:|||||||||
|UKSA|||||||7,500|150,000|
|Ukraine
Charity||||||||50,000|
|Key4Life CIO||||||||5,000|
|Wild Elements
CIC||||||||4,818|
|Ocean Youth Trust South|||||||8,000|10,000|
|Portsmouth
Sail Training|||Trust||||9,766||
|Martin House||||||||3,000|
|City of Bristol Rowing|Club||||||2,791|3,973|
|Islington
Boat Club||||||||4,420|
|Disability
Snowsport|UK|||||||4,000|
|Youth Adventure
Trust||||||||6,000|
|Seachange|||||||10,000||
|The Scout Association||||||||5,000|
|Sports Forum for the|Disabled|||||||10,000|
|Outfit-Moray||||||||8,800|
|The Wheelyboat
Trust||||||||5,000|
|The Island Trust Limited||||||||10,000|
|Vision ofAdventure|||||||4,455|4,422|
|Cann Bridge School||||||||2,000|
|Ocean Youth Trust North|||||||3,740||
|The Ahoy Centre|||||||7,500||
|The Venture
Trust||||||||10,000|
|Secchi Disk|||||||3,000|7,000|
|The Kepplewray
Trust|||||||4,000||
|Wider World||||||||4,000|
|The Chesil Sailing Trust||||||||3,260|
|The Jubilee Sailing Trust||||||||5,000|
|Brathay Trust||||||||5,000|
|Bolton Lads and Girls|Club Limited|||||||5,000|
|Milford Haven
Unit 564||ofthe Sea|||C|adet Corps|3,750|3,500|
|Ellen Macarthur
Cancer||Trust||||||18,000|
|Crebral Palsy Plus||||||||1,900|
|The Outlook Trust for|the||Visually|Im||paired||10,000|
|Tall Ships Youth Trust||||||||5,000|
|Tectona Trust|||||||5,000|5,000|
|Horizons
(Plymouth)|||||||7,769||
|Wild and Free Therapy||CIC|||||1,120||
|Mount Batten Centre|Charity Trust||||||4,500||
|The Ethel Trust|||||||4,500||
|Centre 81 Limited|||||||4,000||
|Lindley Educational
Trust|||Limited||||5,000||
|Mytime|||||||4,866||
|Wecil Ltd|||||||6,206||
|Yes Futures|||||||5,000||
|Cetacean Research
&Rescue Unit|||||||1,000||
|Whitby
Hidden
Impairments
Suppo|||||rt|and Help|4,320||
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|The Rona Trust|||||3,000||
|---|---|---|---|---|---|---|
|1stSt. Peter-In-Thanet/1st|||Broadstairs|Sea Scout Group RN55|2,320||
|Clean Planet|||||1,100||
|The Royal National||College|ForThe Blind||1,109||
|The Disabled Sailors Association|||||5,000||
|Visually
Impaired|Sailing Association||||7,500||
|Grampian
Children's||Respite|Care||2,500||
|Turn to Starboard|||||2,508||
|The Cirdan
Sailing||Trust (Incorporating||The Faramir Trust) Limited|10,000||
|Edinburugh
Young||Carers|||2,000||
|Break|||||5,674||
||||||160,494|369,093|
##
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|||Endowment|Endowment|
|---|---|---|---|
|||funds|funds|
|||general|general|
|||2023|2022|
|Portfolio|management|26,845|28,452|
|||26,845|28,452|
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|||Endowment|Endowment|
|---|---|---|---|
|||funds|funds|
|||general|general|
|||2023|2022|
|||f:||
|Revaluation|ofinvestments|(56,760)|(68,467)|
|Gain on sale|of investments|(33,958)|173,835|
|||(90,718)|105,368|
##
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|Fixed asset investments||
|---|---|
||Listed|
||investments|
||E|
|Cost or valuation||
|At 1 June 2022|7,349,796|
|Additions|1,206,433|
|Valuation
changes|(90,718)|
|Disposal proceeds|(1,324,474)|
|At 31 May 2023|7,141,037|
|Carrying
amount||
|At 31 May 2023|7,141,037|
|At 31 May 2022|7,349,796|
##
|13|Debtors|||||
|---|---|---|---|---|---|
|||||2023|2022|
||Amounts|falling due|within one year:||E|
||Prepayments
and accrued income|||7,237|6,848|
|14|Current|asset investments||||
|||||2023|2022|
||Unlisted|investments||26,421|57,919|
|15|Creditors: amounts||falling due within one year|||
|||||2023|2022|
||||||E|
||Other creditors|||59,713|47,120|
||Accruals|and deferred|income|5,479|4,431|
|||||65,192|51,551|
##
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|||At 1 June|Resources|Transfers|Gains and|At 31 May|
|---|---|---|---|---|---|---|
|||2022|expended||losses|2023|
||||F||||
|Permanent|endowments||||||
|Expendable|endowment|7,178,069|(26,845)|(200,000)|(90,718)|6,860,506|
|Previous year:||At 1 June|Resources|Transfers|Gains and|At 31 May|
|||2021|expended||losses|2022|
||||E|||E|
|Expendable|endowments||||||
|||7,401,153|(28,452)|(300,000)|105,368|7,178,069|
##
|||At 1 June|Incoming|Resources|Transfers|At 31 May|
|---|---|---|---|---|---|---|
|||2022|resources
f|expended||2023|
|General|funds|189,688|127,909|(200,664)|200,000|316,933|
|Previous|year:|At1 June|Incoming|Resources|Transfers|At 31 May|
|||2021|resources|expended||2022|
||||E|||E|
|General|funds|159,139|129,826|(399,277)|300,000|189,688|
##
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##
|Analysis of net assets between funds|||||
|---|---|---|---|---|
|||Unrestricted|Endowment|Total|
|||funds|funds||
|||2023|2023|2023|
|||||F|
|Fund balances at 31 May 2023 are represented|by:||||
|Investments||280,531|6,860,506|7,141,037|
|Current assets/(liabilities)||36,402||36,402|
|||316,933|6,860,506|7,177,439|
|||Unrestricted|Endowment|Total|
|||funds|funds||
|||2022|2022|2022|
|Fund balances at 31 May 2022 are represented|by:||||
|Investments||171,727|7,178,069|7,349,796|
|Current assets/(liabilities)||23,961||23,961|
|Long term liabilities||(6,000)||(6,000)|
|||189,688|7,178,069|7,367,757|
##
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