Shropshire Sailing Club (A company limited by guarantee)
Report and Financial Statements
For the Year Ended
31 October 2021
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 (resigned 23/2/21) Mr J G Simpson (resigned 23/2/21) Mr M W Hamblin (resigned 23/2/21) Mrs C S Murphy (resigned 23/2/21) Mr D P J Robinson (resigned 12/4/21) Mr C A Smith (resigned 23/2/21) Mrs A J Eady (appointed 23/2/21) Mr C C Carter (appointed 23/2/21) Mr D A Coull (appointed 8/3/21) Mr S D Hewitt (appointed 23/2/21) Mr M P Mayne (appointed 23/2/21) Mr J R S Ridgers (appointed 23/2/21) Mr R D Newey (appointed 6/9/21)
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 2021
The trustees present their report along with the financial statements for the year ended 31 October 2021.
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 2021
Principal activities, achievements and plans
Statement of Achievement
The highlight of the year was the grand opening of our new clubhouse on Sunday 3rd October 2021. After more than a decade of planning and fund raising, the dreams of dedicated members came to fruition with the opening of a purpose-designed facility, which will open up many new opportunities for the club.
Following the staged relaxing of Covid-19 restrictions the club was able to offer
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Wednesday morning and evening social sailing,
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Saturday Social Sailing,
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A full Sunday racing programme including 2 Commodore's Regattas.
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The Bi-weekly Saturday Youth Development sessions has developed the skills of many of
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the young sailors within the club. On average, each session had 15 - 20 regular participants
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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, 1 RYA Adult Level 1 Course, 2 RYA Adult Level 2 Courses, 1 Level 1 Keelboat Course and 1 Level 2 Keelboat Course and 3 RYA powerboat Level 2 Courses. All courses ran with a reduced course size to ensure social distancing rules could be maintained,
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On Boarding sessions. The club was able to offer 7 On Boarding sessions to local schools and organisations.
The club is indebted to the club's volunteer training team for the professional delivery of the courses and on boarding sessions.
Whilst the club saw an increase in activities the impact of Covid-19 was that, we lost three affiliated memberships. i.e. local schools, but gained a new one.
Overall the income from memberships and training was 14% higher than 2019/20.
The club is indebted to Shropshire Council 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 the Covid-19 situation remained fluid and uncertain.
We are thankful to a club member for his kind donation that supported the club with the purchase of two Bahia sailing dinghies'. We are also grateful to Oswestry Sports Forum who provided a grant that helped the club purchase "Swiftchick", a Flying 15 type sailing dinghy that will allow the club to offer keelboat training and to support the clubs ambition to offer the sailing experience to people with disabilities.
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Shropshire Sailing Club Trustees Annual Report for the year ended 31 October 2021
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 such as Sailability and stand up paddle boarding.
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 £20,487 for the year (2020: £95,171). At the year of the year the charity had reserves of £311,455 (2020: £290,968). Fixed assets represented £277,480 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 2021 was 8 (2019: 7)
This report was approved by the Trustees and signed on its behalf by:
Mr I Johnson
Date: 24th February 2022
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 2021, 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 : 7th March 2022
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 2021
| Unrestricted Notes Funds £ Income Donations 2 420 Grants receivable 3 18,398 Income from charitable activities 6 43,661 Activities for generating funds 4 248 Investment income and interest 5 1 Other incoming resources - Total income 62,728 Expenditure Costs of generating funds 8 519 Expenditure on charitable activities: Sailing activity running costs 9 20,583 Premises running costs 10 18,018 Other costs 11 3,371 Total expenditure 42,491 Net income 20,237 Gross transfers between funds 16 6,250 Net movement in funds 26,487 Reconciliation of Funds Total funds at 1 November 2020 283,136 Total funds at 31 October 2021 309,623 |
Restricted Funds £ - 250 - - - - 250 - - - - - 250 (6,250) (6,000) 7,832 1,832 |
2021 Total Funds £ 420 18,648 43,661 248 1 - 62,978 519 20,583 18,018 3,371 42,491 20,487 - 20,487 290,968 311,455 |
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 |
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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 2021
| 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 |
146 2,585 33,873 36,604 2,629 |
2021 £ 277,480 33,975 311,455 1,832 309,623 311,455 |
- 3,035 42,113 45,148 6,534 |
2020 £ 252,354 38,614 290,968 7,832 283,136 290,968 |
|---|---|---|---|---|
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: 24th February 2022
Company Registration No. 07073373
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Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2021
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 2021
| 2 Donations Unrestricted £ Donations - New Club House - Donations - Boat fund - Sundry donations 420 Value of donated assets - Sale of donated asset - 420 |
Restricted £ - - - - - - |
2021 £ - - 420 - - 420 |
2020 £ 5,406 6,000 45 - - 11,451 |
|---|---|---|---|
| 3 Grants receivable Unrestricted £ Grants towards new sailing club building Sport England Grant - Twemlows Grant - Mary Hignett Bequest Fund - Oswestry Sports Forum Grant - COVID support grant 18,398 18,398 4 Activities for generating funds Unrestricted £ Fundraising events 135 Sales of merchandise 113 248 5 Investment Income Unrestricted £ UK interest received 1 1 6 Incoming resources from charitable activities Unrestricted £ Subscriptions 30,296 Berth fees 222 Boat hire 425 Training fees and courses 8,672 Group Booking - 'on boarding events' 4,046 Sundry sales and other income - 43,661 |
Restricted £ - - - 250 - 250 Restricted £ - - - Restricted £ - - Restricted £ - - - - - - |
2021 £ - - - 250 18,398 18,648 2021 £ 135 113 248 2021 £ 1 1 2021 £ 30,296 222 425 8,672 4,046 - 43,661 |
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 |
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7 Taxation
The charitable company is exempt from corporation tax on its charitable activities.
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Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2021
8 Costs of generating funds
| 8 Costs of generating funds Unrestricted £ Fundraising events 415 104 519 9 Sailing activity running costs Unrestricted £ RYA Subscription 666 Postage and stationery 50 Insurance 5,494 Fuel and lubricants 569 Chandlery 775 Motor servicing 489 Prizes 68 Whitemere rent 6,000 Training provision costs 1,012 Depreciation 5,460 Profit from sale of equipment - 20,583 10 Premises running costs Unrestricted £ Rates 218 Electricity 3,230 Repairs 642 Water front and grounds maintenance 5,312 Cleaning 2,601 Telephone 412 Depreciation 5,603 18,018 11 Other costs Unrestricted £ Software Licence 1,674 Health and safety 468 Advertising 66 Travelling 24 Independent examiners fee 817 Old sailing club - write off of value - Charitable donation 150 Sundry 172 3,371 |
Restricted £ - - - Restricted £ - - - - - - - - - - - - Restricted £ - - - - - - - - Restricted £ - - - - - - - - - |
2021 £ 415 104 519 2021 £ 666 50 5,494 569 775 489 68 6,000 1,012 5,460 - 20,583 2021 £ 218 3,230 642 5,312 2,601 412 5,603 18,018 2021 £ 1,674 468 66 24 817 - 150 172 3,371 |
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 |
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10
Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2021
12 Tangible fixed assets
| Cost At 1 November 2020 Additions Old sailing club - write off of value Disposals At 31 October 2021 Depreciation At 1 November 2020 Charge for the year Disposals At 31 October 2021 Net book value At 31 October 2021 At 1 November 2020 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 2021 are represented by: Tangible fixed assets Current assets Current liabilities Total net assets |
Land and buildings £ 242,840 52,566 23,365 12,425 - - - - 266,205 64,991 1,579 41,968 5,400 5,460 - - 6,979 47,428 259,226 17,563 241,261 10,598 General funds £ 277,480 34,772 (2,629) 309,623 Boats & Sailing Equipment |
£ 688 399 - - 1,087 193 203 - 396 691 495 2021 £ - 2,585 - 2,585 2021 £ 2,629 2,629 Restricted funds £ - 1,832 - 1,832 Club House Fixtures, fittings and equipment |
Total £ 296,094 296,094 - - 332,283 43,740 11,063 - 54,803 277,480 252,354 2020 £ 1,110 1,925 - 3,035 2020 £ 6,534 6,534 Total funds £ 277,480 36,604 (2,629) 311,455 |
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11
Shropshire Sailing Club Notes to the Financial Statements for the year ended 31 October 2021
| 16 Movements in funds Unrestricted funds: General fund Coffuffle boat replacement fund Total Unrestricted funds Restricted funds : Coffuffle boat replacement fund Training boat replacement fund Boat fund Total restricted funds Total funds |
At 1 November 2020 282,836 300 283,136 1,832 6,000 - 7,832 290,968 |
Incoming resources 62,728 - 62,728 - - 250 250 62,978 |
Outgoing resources (42,491) (42,491) - - - - (42,491) |
Transfers 6,080 170 6,250 - (6,000) (250) (6,250) - |
At 31 October 2021 309,153 470 309,623 1,832 - - 1,832 311,455 |
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17 Financial commitments
At 31 October 2021 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 |
2021 £ 6,000 24,000 151,500 181,500 |
2020 £ 6,000 24,000 157,500 187,500 |
|---|---|---|
The club has a long term rental lease which does not expire until 2048.
18 Capital commitments
At 31 October 2021 the charity had no capital commitments.
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