Shropshire Sailing Club (A company limited by guarantee)
Report and Financial Statements
For the Year Ended
31 October 2020
Charity Number: 1134892 Company Number: 07073373
Shropshire Sailing Club
Contents
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees Annual Report | 2 |
| Independent Examiners Report | 5 |
| Statement of Financial Activities (including Income & Expenditure Account) | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 |
Shropshire Sailing Club
Legal and Administrative Information
Status
The organisation is a charitable company limited by guarantee, incorporated on 11 November 2009 and registered as a charity on 12 March 2010.
The company is established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. Under those Articles, the Directors are elected to serve for a period of a year with one third retiring each year .
Directors and Trustees
The directors of the charitable company (the charity) are it's trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
The trustees serving during the year and since the year end were as follows :
Mr I Johnson Mr R R Hilliard Mr J G Simpson Mr M W Hamblin Mrs C S Murphy Mr D P J Robinson Mr C A Smith
Registered office
Whitemere Ellesmere Shropshire SY12 0HU
Independent examiner
D Fox FCCA Walletts Adventure Place, Hanley Stoke on Trent ST1 3AF
Bankers
NatWest Bank plc 42 Cheshire Street Market Drayton Shropshire TF9 1PG
1
Shropshire Sailing Club Trustees Annual Report for the year ended 31 October 2020
The trustees present their report along with the financial statements for the year ended 31 October 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, the Charities Act 2011,the Companies Act 2006 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
The company contact address is the registered office.
Management, governance arrangements and risk review
The Board considers that its trustees collectively possess the necessary skill and experience to direct the Club's affairs and identify and induct suitable candidates to fill any vacancies.
The Board is continuously alert to and formally reviews annually the risks to which the charity is exposed.
The trustees keep the skill requirements for the Trustee Body under review and new potential trustees will be approached as considered necessary. The trustees will conduct an interview in which the responsibilities of trustees are discussed and a final decision taken.
The induction process for new trustees will involve an initial meeting with the current trustees to discuss in detail the responsibilities of the position, the governing trust deed and the objectives of the charity. New trustees are provided with a copy of the Charity Commissions Guidance ‘The Essential Trustee: What you Need to Know’.
The board meets not less than three times a year to review progress and plans.
Objectives
The charity is established with the object of the promotion of community participation in healthy recreation by the provision of facilities for sailing in the north Shropshire area.
In shaping our objectives and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit.
How our activities deliver public benefit
The club provides community involvement in healthy recreation (dinghy sailing), advancing the physical education of young people by providing equipment and facilities to learn the sport of sailing, and educating the public about the sustainable recreational use of the Mere on which the club sails. The club aims to provide these facilities and services at a low cost and to some groups free of charge. The principle public benefit is healthy recreation.
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Shropshire Sailing Club Trustees Annual Report for the year ended 31 October 2020
Principal activities, achievements and plans
The highlight of the year was the completion of our new clubhouse.
We are especially thankful to Sports England, The Twemlow Trust, The Mary Hignett Bequest Fund and our clubs membership for their generous grants and donations which made this possible.
Unfortunately, our joy was dampened by the outbreak of the Covid-19 Pandemic and the enforced closure of the club in the March and subsequent lockdowns.
Like all sports clubs, our plans for 2020 were put on hold with the emphasis changed to keeping the club financially sound and committed to working within the restrictions.
The club is indebted to Shropshire Council and the Eaton Estate for their financial support during this difficult time. We are also indebted to the clubs membership for their support by paying their membership fees at a time when it was uncertain if we could get to sail at all during the Covid-19 Pandemic.
Following Government and RYA guidelines we managed to get back on the water on 6 June after putting in place Covid-19 policies and procedures. The Covid-19 Management Committee have worked tirelessly to ensure Shropshire Sailing Club has been a Covid Safe place to come and sail.
Our training plans had to be curtailed with all adult sail and power boat courses cancelled. A reduced training plan for the youngsters was put in place.
Our plans for community involvement through the Royal Yachting Association, (RYA), "Push the Boat Out" initiative also had to be cancelled.
The financial impact of the revised training plan and the cancellation of all community involvement sessions was a reduction of 64% on our training and community involvement revenue.
During the times when restrictions have been eased within the Covid-19 Pandemic the Club has been able to provide the following activities:
These were limited by numbers and were controlled by a "Book a Slot" application on the clubs "Sailing Club Manager" system.
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Wednesday morning social sailing,
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Saturday Social Sailing,
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A reduced Sunday racing programme took place from 21 June to early December,
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Training - as a recognised RYA Training Centre, Shropshire Sailing Club has been able to offer 2 RYA Youth Stage 1 Courses and 2 RYA Youth Stage 2 Courses, but with reduced course sizes to ensure social distancing rules could be maintained,
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The Bi-weekly Saturday Youth Development sessions has developed the skills of many of the young sailors within the club. On average, each session had 15 - 20 regular participants.
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Shropshire Sailing Club Trustees Annual Report for the year ended 31 October 2020
Future Plans
It is hoped that our new modern clubhouse will allow us to maintain and realise our membership potential and to develop new opportunities.
We do have some challenges for 2020/21; The main one being to secure funds to demolish our clubhouse and return the area to natural land. The Directors/ Trustees are confident that we can do this through Grant Funding and also the support of our members.
The future of Shropshire Sailing club looks very good and the Directors/ Trustees are excited by what the future will bring.
Financial Review, Investment Policy & Reserves
The charity had an overall excess of income over expenditure of £95,171 for the year (2019: £14,291). £82,206 of the excess relates to donations and grants that have been specifically used to fund the building of the new club house. At the year of the year the charity had reserves of £290,968 (2019: £195,797). Fixed assets represented £252,354 of the reserves held.
The trustees are satisfied with the results of the year and look forward to the continuing success of the club.
The reserves of the club are considered to be adequate to ensure the ongoing activity of the club
Statement of trustees responsibilities
Company law requires that the directors prepare financial statements for each financial year to give a true and fair view of the state of affairs of the charitable company as at the balance sheet date, of its incoming resources and application of those resources, including income and expenditure, for the year. In preparing those statements, the board has selected suitable accounting policies and applied them consistently, made judgements and estimates that are reasonable and prudent and prepared the financial statements on a going concern basis.
The trustees acknowledge responsibility for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that financial statements comply with the Companies Act 2006. They have also safeguarded the assets of the charitable company and taken reasonable steps to prevent and detect fraud or other irregularities.
Members of the board
Members of the board, directors for the purpose of company law and trustees for the purpose of charity law, who served during the year are set out on page 1.
Members of the charitable company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up. The number of such guarantees at 31 October 2020 was 7 (2019: 7)
This report was approved by the Trustees and signed on its behalf by:
Mr I Johnson
Date: 09 March 2021
4
Independent Examiner's Report to the trustees of Shropshire Sailing Club
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 October 2020, which are set out on pages 6 to 12.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated : 15 March 2021
D. Fox FCCA Walletts Adventure Place Hanley Stoke-on Trent
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Shropshire Sailing Club
Statement of Financial Activities (including Income & Expenditure Account) for the year ended 31 October 2020
| Unrestricted Notes Funds £ Income Donations 2 45 Grants receivable 3 10,000 Income from charitable activities 6 34,479 Activities for generating funds 4 1,558 Investment income and interest 5 216 Other incoming resources - Total income 46,298 Expenditure Costs of generating funds 8 1,297 Expenditure on charitable activities: Sailing activity running costs 9 17,933 Premises running costs 10 6,432 Other costs 11 13,671 Total expenditure 39,333 Net income 6,965 Gross transfers between funds 16 81,374 Net movement in funds 88,339 Reconciliation of Funds Total funds at 1 November 2019 194,797 Total funds at 31 October 2020 283,136 |
Restricted Funds £ 11,406 76,800 - - - - 88,206 - - - - - 88,206 (81,374) 6,832 1,000 7,832 |
2020 Total Funds £ 11,451 86,800 34,479 1,558 216 - 134,504 1,297 17,933 6,432 13,671 39,333 95,171 - 95,171 195,797 290,968 |
2019 Total Funds £ 2,175 - 42,468 1,987 805 - 47,435 1,605 20,516 6,833 4,190 33,144 14,291 - 14,291 181,506 195,797 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
The incoming resources and resources expended derive from continuing operations.
None of the charitable company's activities were acquired or discontinued during the above two financial years.
The notes on pages 8 to 12 form part of these accounts.
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Shropshire Sailing Club Balance Sheet as at 31 October 2020
| Notes Fixed assets for use by the charity Tangible assets 12 Current assets Stock Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Net assets The funds of the charity : Restricted funds 16 Unrestricted funds 16 Total charity funds |
- 3,035 42,113 45,148 6,534 |
2020 £ 252,354 38,614 290,968 7,832 283,136 290,968 |
- 2,495 151,747 154,242 1,113 |
2019 £ 42,668 153,129 195,797 1,000 194,797 195,797 |
|---|---|---|---|---|
For the financial year ended 31 October 2020 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit or loss for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with FRS 102 Section 1A - small entities.
The financial statements were approved and authorised for issue by the directors and signed on their behalf by:
Mr I Johnson
Date:
9 March 2021
Company Registration No. 07073373
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Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2020
1 Accounting policies
Accounting convention
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Companies Act 2006.
The trust constitutes a public benefit entity as defined by FRS 102.
Incoming resources
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers has not been included.
Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
Incoming resources from investments are included when receivable.
Subscription and fees are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
Resources expended and basis of allocation of costs
Resources expended are recognised in the period in which they are incurred.
Resources expended are allocated directly to the particular activity to which they relate.
Fixed assets and depreciation
All purchases of a capital nature are capitalised at cost.
Depreciation is provided at rates calculated to write off the cost of each tangible fixed asset over its expected useful life as follows :
Land and buildings straight line over 50 years Fixtures and fittings straight line over 8 years Boats and equipment straight line over 5 to 10 years
Unrestricted funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Designated funds
Designated funds are unrestricted funds earmarked by the management committee for particular purposes.
Restricted funds
Restricted funds Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
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Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2020
2 Donations
| Donations Unrestricted £ Donations - New Club House - Donations - Boat fund - Sundry donations 45 Value of donated assets - Sale of donated asset - 45 |
Restricted £ 5,406 6,000 - - - 11,406 |
2020 £ 5,406 6,000 45 - - 11,451 |
2019 £ - - 1,100 1,075 - 2,175 |
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| 3 Grants receivable Unrestricted £ Grants towards new sailing club building Sport England Grant - Twemlows Grant - Mary Hignett Bequest Fund - COVID support grant 10,000 10,000 4 Activities for generating funds Unrestricted £ Fundraising events 1,558 Sales of merchandise - 1,558 4 Investment Income Unrestricted £ UK interest received 216 216 6 Incoming resources from charitable activities Unrestricted £ Subscriptions 29,971 Berth fees - Boat hire 145 Training fees and courses 4,063 Sundry sales and other income 300 34,479 |
Restricted £ 75,000 1,000 800 - 76,800 Restricted £ - - - Restricted £ - - Restricted £ - - - - - - |
2020 £ 75,000 1,000 800 10,000 86,800 2020 £ 1,558 - 1,558 2020 £ 216 216 2020 £ 29,971 - 145 4,063 300 34,479 |
2019 £ - - - - - 2019 £ 1,930 57 1,987 2019 £ 805 805 2019 £ 30,573 56 252 11,295 292 42,468 |
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7 Taxation
The charitable company is exempt from corporation tax on its charitable activities.
9
Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2020
| 8 Costs of generating funds Unrestricted £ Fundraising events 1,297 Goods for resale - 1,297 9 Sailing activity running costs Unrestricted £ RYA Subscription 666 Postage and stationery 179 Insurance 5,409 Fuel and lubricants 579 Chandlery 743 Motor servicing 743 Prizes 73 Whitemere rent 4,500 Training provision costs 420 Depreciation 4,621 Profit from sale of equipment - 17,933 10 Premises running costs Unrestricted £ Rates 175 Electricity 1,612 Repairs 343 Water front maintenance - Cleaning 2,345 Telephone 255 Depreciation 1,702 6,432 11 Other costs Unrestricted £ Software Licence 1,219 Health and safety 693 Travelling 155 Independent examiners fee 780 Promotional stock write off - Old sailing club - write off of value 10,283 Sundry 541 13,671 |
Restricted £ - - - Restricted £ - - - - - - - - - - - - Restricted £ - - - - - - - - Restricted £ - - - - - - - - |
2020 £ 1,297 - 1,297 2020 £ 666 179 5,409 579 743 743 73 4,500 420 4,621 - 17,933 2020 £ 175 1,612 343 - 2,345 255 1,702 6,432 2020 £ 1,219 693 155 780 - 10,283 541 13,671 |
2019 £ 1,605 - 1,605 2019 £ 650 66 5,562 823 797 1,513 260 6,000 347 5,038 (540) 20,516 2019 £ (364) 921 290 150 4,169 226 1,441 6,833 2019 £ 1,878 219 111 750 486 - 746 4,190 |
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10
Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2020
12 Tangible fixed assets
| Cost At 1 November 2019 Additions Old sailing club - write off of value Disposals At 31 October 2020 Depreciation At 1 November 2019 Charge for the year Old sailing club - write off of value Disposals At 31 October 2020 Net book value At 31 October 2020 At 1 November 2019 13 Debtors Trade debtors Prepayments Other debtors 14 Creditors: amounts falling due within one year Other creditors and accruals 15 Analysis of net assets between funds Fund balances as at 31 October 2020 are represented by: Tangible fixed assets Current assets Current liabilities Total net assets |
Land and buildings £ 31,077 52,566 226,174 - (14,411) - - - 242,840 52,566 3,628 37,347 1,579 4,621 10,783 (14,411) - 1,579 41,968 241,261 10,598 27,449 15,219 General funds £ 252,354 44,148 (6,534) 289,968 Boats & Sailing Equipment |
£ 70 618 - - 688 70 123 - 193 495 - 2020 £ 1,110 1,925 - 3,035 2020 £ 6,534 6,534 Restricted funds £ - 1,000 - 1,000 Club House Fixtures, fittings and equipment |
Total £ 84,038 84,038 (14,411) - 296,094 41,370 6,323 (14,411) 43,740 252,354 42,668 2019 £ - 2,495 - 2,495 2019 £ 1,113 1,113 Total funds £ 252,354 45,148 (6,534) 290,968 |
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Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2020
| 16 Movements in funds Unrestricted funds: General fund Coffuffle boat replacement fund Club House fund Total Unrestricted funds Restricted funds : Coffuffle boat replacement fund Training boat replacement fund Club House fund Total restricted funds Total funds |
At 1 November 2019 160,864 1,832 32,101 194,797 - - 1,000 1,000 195,797 |
Incoming resources 45,998 300 46,298 - 6,000 82,206 88,206 134,504 |
Outgoing resources (39,333) (39,333) - - - - (39,333) |
Transfers 115,307 (1,832) (32,101) 81,374 1,832 - (83,206) (81,374) - |
At 31 October 2020 282,836 300 - 283,136 1,832 6,000 - 7,832 290,968 |
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17 Financial commitments
At 31 October 2020 the charity was committed to making the following payments under non-cancellable operating leases :
| Land and buildings Operating leases : Due within one year Between two and five year Due in more than 5 years |
2020 £ 6,000 24,000 157,500 187,500 |
2019 £ 6,000 24,000 163,500 193,500 |
|---|---|---|
The club has a long term rental lease which does not expire until 2048.
18 Capital commitments
At 31 October 2020 the charity was committed demolish the old club house under terms of planning permission. The Trustee's estimated that this will cost in the region of £19,000 based on initial tenders. In addition, legal fees of £1,300 are also anticipated in order to comply with other requirements of the new club house build.
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