##
|||||||Page|
|---|---|---|---|---|---|---|
|Reference and Administrative|||Details ofthe Charity,|its Trustees|and Advisers||
|Trustees'
Report|||||||
|Independent|Auditors'|Report|on the Financial Statements|||12-15|
|Consolidated|Statement of Financial Activities|||||16|
|Consolidated|Balance|Sheet||||17|
|Charity Balance Sheet||||||18|
|Consolidated|Statement ofCash Flows|||||19|
|Notes to the|Financial|Statements||||20-39|
##
##
|Trustees|||Rear Admiral
Michael George Wood CBE, DL, JP, Chairman|Rear Admiral
Michael George Wood CBE, DL, JP, Chairman|
|---|---|---|---|---|
||||Mrs Sarah Adkins||
||||Mr Robert Alan|Seabrook Baldry|
||||Mr Alastair
Keith Camp||
||||Mr lan Robert Douglas||
||||Lt Cdr Rebecca|French RN|
||||Lt Cdr Claire Marie Frances Lees MBE RN||
||||Michael James Dukes||
||||Warrant
Officer|First Class Paul Todd|
||||Major Steve Cox RM||
|Company|registered||||
|number|||07100967||
|Charity registered|||||
|number|||1135918||
|Chief executive officer|||Mr G C Hannah||
|Independent||auditors|Bishop Fleming|LLP|
||||Chartered
Accountants||
||||Salt Quay House||
||||4 North East Quay||
||||Sutton Harbour||
||||Plymouth||
||||PL4 OBN||
|Bankers|||HSBC||
||||Forder House||
||||20 William Prance Road||
||||Plymouth||
||||Devon||
||||PL6 5WR||
|Solicitors|||Womble Bond Dickinson||
||||Ballard House||
||||West Hoe Road||
||||Plymouth||
||||Devon||
||||PL1 3AE||
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||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
|||||Note|2022|2022f|2022|2021
E|
|Income from:|||||||||
|Donations
and legacies|||||160,458|154,458|314,916|50,125|
|Charitable
activities|||||735,020|4,689|739,709|1,205,236|
|Other trading
activities|||||5,113,879||5,113,879|2,003,677|
|Investments|||||45,366||45,366|50,271|
|Total income|||||6,054,723|159,147|6,213,870|3,309,309|
|Expenditure
on:|||||||||
|Raising funds|||||4,372,872||4,372,872|3,160,933|
|Charitable
activities|||||1,137,179|23,435|1,160,614|819,882|
|Total expenditure|||||5,510,051|23,435|5,533,486|3,980,815|
|Net income/(expenditure)|||before net||||||
|(losses)/gains
on||investments|||544,672|135,712|680,384|(671,506)|
|Net (losses)/gains|on investments||||(42,236)||(42,236)|110,877|
|Net movement
in|funds before other||||||||
|recognised
gains|||||502,436|135,712|638,148|(560,629)|
|Net movement
in|funds||||502,436|135,712|638,148|(560,629)|
|Reconciliation
of|funds:||||||||
|Total funds brought||forward|||8,395,354|200,119|8,595,473|9,156,102|
|Net movement
in funds|||||502,436|135,712|638,148|(560,629)|
|Total funds carried||forward|||8,897,790|335,831|9,233,621|8,595,473|
||||||2022||2021|
|---|---|---|---|---|---|---|---|
||||Note||||F|
|Fixed assets||||||||
|Tangible assets|||12||8,848,589||8,963,347|
|Investments|||13||953,316||827,594|
||||||9,801,905||9,790,941|
|Current assets||||||||
|Stocks|||14|116,770||94,198||
|Debtors|||15|229,730||96,662||
|Cash at bank and|in hand|||1,113,679||662,937||
|||||1,460,179||853,797||
|Creditors: amounts|falling|due within one||||||
|year|||16|(1,382,005)||(1,170,841)||
|Net current assets/(liabilities)|||||78,174||(317,044)|
|Total assets less|current|liabilities|||9,880,079||9,473,897|
|Creditors: amounts|falling|due after more||||||
|than one year|||17||(646,458)||(878,424)|
|Total net assets|||||9,233,621||8,595,473|
|Charity funds||||||||
|Restricted funds|||18||335,831||200,119|
|Unrestricted
funds|||18||8,897,790||8,395,354|
|Total funds|||||9,233,621||8,595,473|
##
##
##
##
||||Note||2022f||2021|
|---|---|---|---|---|---|---|---|
|Fixed assets||||||||
|Tangible assets|||12||8,825,279||8,963,347|
|Investments|||13||954,316||828,594|
||||||9,779,595||9,791,941|
|Current assets||||||||
|Debtors|||15|525,989||17,881||
|Cash at bank and|in hand|||233,008||358,329||
|||||758,997||376,210||
|Creditors: amounts|falling|due within one||||||
|year|||16|(952,660)||(776,532)||
|Net current (liabilities)|||||(193,663)||(400,322)|
|Total assets less|current|liabilities|||9,585,932||9,391,619|
|Creditors: amounts|falling|due after more||||||
|than one year|||17||(388,674)||(463,525)|
|Total net assets|||||9,197,258||8,928,094|
|Charity funds||||||||
|Restricted
funds|||18||335,831||200,119|
|Unrestricted
funds|||18||8,861,427||8,727,975|
|Total funds|||||9,197,258||8,928,094|
##
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||||Note||E|
|Cash flows from operating||activities|||||||
|Net cash used
in operating||activities||||21|1,007,833|(238,337)|
|Cash flows from investing||activities|||||||
|Purchase oftangible
fixed assets|||||||(180,588)|(167,845)|
|Proceeds from sale of investments|||||||14|400,094|
|Purchase of investments|||||||(167,970)|(36,422)|
|Investment
Income received|||||||45,366|50,271|
|Net cash (used in)/provided||by investing||activities|||(303,178)|246,098|
|Cash flows from financing||activities|||||||
|Repayments
of borrowing|||||||(253,913)|(37,432)|
|Net cash used in financing||activities|||||(253,913)|(37,432)|
|Change
in cash and cash||equivalents|in|the year|||450,742|(29,671)|
|Cash and cash equivalents|at the beginning|||ofthe year|||662,937|692,608|
|Cash and cash equivalents||at the end|of|the year||22|1,113,679|662,937|
|The notes on pages 20 to 39form part ofthese financial|||||statements||||
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|Freehold|property|- Building element: 4% straight|- Building element: 4% straight|- Building element: 4% straight|line, land not|
|---|---|---|---|---|---|
|||depreciated||||
|Plant and|machinery|- 16%straight|line|||
|Motor vehicles, tractors 8||- 20% straight|line|||
|mowers||||||
|Fixtures,|fittings and equipment|- 15%-33%straight||line||
|Timeshares||- 2% straight|line/over|the term|ofthe ownership|
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##
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022|2022|
|Grants|160,458|154,458|314,916|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
||||E|
|Grants||50,125|50,125|
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2022|
|||f|||
|Direct charitable|income from beneficiaries|735,020||735,020|
|COVID Relief grants|||4,689|4,689|
|TOTAL 2022||735,020|4,689|739,709|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2021|2021|2021|
|Direct charitable|income from beneficiaries|424,866||424,866|
|COVID Relief grants|||780,370|780,370|
|TOTAL 2021||424,866|780,370|1,205,236|
##
##
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
|||F||
|Investment|income|45,366|45,366|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|||F|E|
|Investment|income|50,271|50,271|
##
||||||Unrestricted|Restricted||
|---|---|---|---|---|---|---|---|
||||||funds|funds|Total|
||||||2022|2022|2022|
|||||||F.||
|Direct|charitable|cost|for|beneficiaries|1,137,179|23,435|1,160,614|
||||||Unrestricted|Restricted||
||||||funds|funds|Total|
||||||2021|2021|2021|
||||||F|F|E|
|Direct|charitable|cost|for|beneficiaries|29,720|790,162|819,882|
##
##
##
|Activities||
|---|---|
|undertaken|Total|
|directly|funds|
|2022|2022f|
|1,160,614|1,160,614|
|Activities||
|---|---|
|undertaken|Total|
|directly|funds|
|2021|2021|
|F|F|
|819,882|819,882|
##
||||Direct||
|---|---|---|---|---|
||||charitable|Total|
||||income|funds|
||||2022|2022|
|Staff costs|||523,912|523,912|
|Depreciation|||177,823|177,823|
|Other operating||charges|457,519|457,519|
|Governance|costs||1,360|1,360|
||||1,160,614|1,160,614|
##
##
##
##
|||||||Direct||
|---|---|---|---|---|---|---|---|
|||||||charitable|Total|
|||||||income|funds|
|||||||2021|2021|
|||||||E|E|
|Staff costs||||||284,521|284,521|
|Depreciation||||||268,256|268,256|
|Other operating|||charges|||261,337|261,337|
|Governance||costs||||5,768|5,768|
|||||||819,882|819,882|
|NET INCOME/(EXPENDITURE)||||||||
|||||||2022|2021|
|||||||F||
|Depreciation||of|tangible||fixed assets - owned|280,426|268,256|
|Auditor's|remuneration|||-|audit|3,875|5,100|
|Auditors'|remuneration|||-|other services|9,825|7,475|
|Operating|lease||rentals|||268,999|141,787|
|||||||563,125|422,618|
##
##
||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2022f|2021|2022|2021
E|
|Wages and salaries|2,372,846|2,081,763|357,480|260,087|
|Social security costs|268,920|137,678|123,805|18,347|
|Other pension costs|91,128|42,169|42,626|6,087|
||2,732,894|2,261,610|523,911|284,521|
##
##
||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2022|2021|2022|2021|
||No.|No.|No.|No.|
|Total|115|88|||
|Group|Group|
|---|---|
|2022|2021|
|No.|No.|
##
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##
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##
##
||||Listed|
|---|---|---|---|
||||investments|
|GROUP|||f.|
|COST OR VALUATION||||
|At 1 June 2021|||827,592|
|Additions|||167,970|
|Disposals|||(14)|
|Revaluations|||(42,232)|
|AT 31 MAY 2022|||953,316|
|NET BOOK VALUE||||
|AT 31 MAY 2022|||953,316|
|AT 31 MAY 2021|||827,592|
||Investments|||
||in|||
||subsidiary|Listed||
||companies|investments|Total|
|CHARITY||||
|COST OR VALUATION||||
|At 1 June 2021|1,000|827,592|828,592|
|Additions||167,970|167,970|
|Disposals||(14)|(14)|
|Revaluations||(42,232)|(42,232)|
|AT 31 MAY 2022|1,000|953,316|954,316|
|NET BOOK VALUE||||
|AT 31 MAY 2022|1,000|953,316|954,316|
|AT 31 MAY 2021|1,000|827,592|828,592|
##
##
##
|||Group|Group|
|---|---|---|---|
|||2022|2021|
||||E|
|Raw materials|and consumables|12,066|8,745|
|Finished goods|and goods for resale|104,704|85,453|
|||116,770|94,198|
##
|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2022|2021|2022|2021|
|||||||F|E|
|DUE|WITHIN|ONE|YEAR|||||
|Trade|debtors|||17,751|9,511|||
|Other|debtors|||211,979|87,151|525,989|17,881|
|||||229,730|96,662|525,989|17,881|
##
##
##
||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
|Bank loans|||||158,129|180,076|70,525|70,525|
|Trade creditors|||||293,582|201,822|388|1,476|
|Amounts|owed|to group undertakings|||||877,157|700,528|
|Other taxation||and|social security||116,355|103,558|||
|Other creditors|||||66,228|39,692|||
|Accruals|and deferred
income||||747,711|645,693|4,590|4,003|
||||||1,382,005|1,170,841|952,660|776,532|
||||||||Group|Group|
||||||||2022|2021|
|||||||||E|
|Deferred|income at 1 June 2021||||||477,323|326,694|
|Resources deferred|||during the year||||538,476|477,323|
|Amounts|released||from previous|periods|||(477,323)|(326,694)|
|Deferred|income at 31 May 2021||||||538,476|477,323|
##
|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||||F||
|Bank|loans|646,458|878,424|388,674|463,525|
##
##
##
##
|||Balance at 1|||Transfers|Gains/|Balance at|
|---|---|---|---|---|---|---|---|
|||June 2021|Income|Expenditure|in/out|(Losses)|31 May 2022|
|UNRESTRICTED||||||||
|FUNDS||||||||
|DESIGNATED||||||||
|FUNDS||||||||
|Designated
Funds||767,023|25,769||205,179|(42,236)|955,735|
|Freehold|Property|7,628,331||(142,937)|336,661||7,822,055|
|||8,395,354|25,769|(142,937)|541,840|(42,236)|8,777,790|
|GENERAL FUNDS||||||||
|General|Funds||6,028,954|(5,367,114)|(541,840)||120,000|
|TOTAL||||||||
|UNRESTRICTED||||||||
|FUNDS||8,395,354|6,054,723|(5,510,051)||(42,236)|8,897,790|
|RESTRICTED||||||||
|FUNDS||||||||
|LIBOR Grant-||||||||
|Capital||37,592||(3,048)|||34,544|
|RNRMC|Grant-|||||||
|Capital||162,527|154,458|(15,698)|||301,287|
|COVID|Relief|||||||
|Grants|||4,689|(4,689)||||
|||200,119|159,147|(23,435)|||335,831|
|TOTAL|OF FUNDS|8,595,473|6,213,870|(5,533,486)||(42,236)|9,233,621|
##
##
##
##
||Balance at|||Transfers|Gains/|Balance at|
|---|---|---|---|---|---|---|
||1 June 2020|Income|Expenditure|in/out|(Losses)|31 May 2021|
||E||||E||
|UNRESTRICTED|||||||
|FUNDS|||||||
|DESIGNATED|||||||
|FUNDS|||||||
|Designated
Funds|1,364,134|30,057||(738,045)|110,877|767,023|
|Freehold
Property|7,582,057||(117,584)|163,858||7,628,331|
||8,946,191|30,057|(117,584)|(574,187)|110,877|8,395,354|
|GENERAL FUNDS|||||||
|General
Funds||2,498,882|(3,073,069)|574,187|||
|TOTAL|||||||
|UNRESTRICTED|||||||
|FUNDS|8,946,191|2,528,939|(3,190,653)||110,877|8,395,354|
|RESTRICTED|||||||
|FUNDS|||||||
|LIBOR Grant-|||||||
|Capital|40,640||(3,048)|||37,592|
|RNRMC Grant-|||||||
|Capital|169,271||(6,744)|||162,527|
|COVID Relief|||||||
|Grants||780,370|(780,370)||||
||209,911|780,370|(790,162)|||200,119|
|TOTAL OF FUNDS|9,156,102|3,309,309|(3,980,815)||110,877|8,595,473|
##
##
##
##
##
||||Balance at 1|||Transfers|Gains/|Balance at|
|---|---|---|---|---|---|---|---|---|
||||June 2021|Income|Expenditure|in/out|(Losses)|31 May 2022|
||||f.||||||
|Designated|||||||||
|funds|||8,395,354|25,769|(142,937)|541,840|(42,236)|8,777,790|
|General|funds|||6,028,954|(5,367,114)|(541,840)||120,000|
|Restricted||funds|200,119|159,147|(23,435)|||335,831|
||||8,595,473|6,213,870|(5,533,486)||(42,236)|9,233,621|
|SUMMARY OF|||FUNDS - PRIOR|YEAR|||||
||||Balance at|||Transfers|Gains/|Balance at|
||||1 June 2020|Income|Expenditure|in/out|(Losses)|31 May 2021|
|||||||||E|
|Designated|||||||||
|funds|||8,946,191|30,057|(117,584)|(574,187)|110,877|8,395,354|
|General|funds|||2,498,882|(3,073,069)|574,187|||
|Restricted||funds|209,911|780,370|(790,162)|||200,119|
||||9,156,102|3,309,309|(3,980,815)||110,877|8,595,473|
##
##
|ANALYSIS OF NET ASSETS BETWEEN FUNDS|- CURRENT YEAR|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2022|2022|2022|
|Tangible fixed assets|8,512,758|335,831|8,848,589|
|Fixed asset investments|953,316||953,316|
|Current assets|1,460,179||1,460,179|
|Creditors due within one year|(1,382,005)||(1,382,005)|
|Creditors due in more than one year|(646,458)||(646,458)|
|TOTAL|8,897,790|335,831|9,233,621|
##
##
|ANALYSIS OF NET ASSETS BETWEEN FUNDS|- PRIOR YEAR|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2021|2021|2021|
||E|E|E|
|Tangible fixed assets|8,763,228|200,119|8,963,347|
|Fixed asset investments|827,594||827,594|
|Current assets|853,797||853,797|
|Creditors due within one year|(1,170,841)||(1,170,841)|
|Creditors due in more than one year|(878,424)||(878,424)|
||8,395,354|200,119|8,595,473|
##
##
||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2022|2021|
|||||||||||E|
|Net
income/expenditure||for|the|year|(as|per|Statement|of Financial|||
|Activities)|||||||||638,148|(560,629)|
|ADJUSTMENTS FOR:|||||||||||
|Depreciation
charges|||||||||280,426|268,257|
|Gains/(losses)
on investments|||||||||42,232|(107,939)|
|Investment
income|||||||||(45,366)|(50,271)|
|Profit on the sale offixed assets|||||||||14,920|212|
|(Increase)/decrease|in stocks||||||||(22,572)|3,454|
|(Increase)
in debtors|||||||||{133,068)|(13,610)|
|Increase
in creditors|||||||||233,113|222,189|
|NET CASH PROVIDED||BY/{USED||IN) OPERATING ACTIVITIES|||||1,007,833|(238,337)|
##
##
##
##
##
|||||||Group|Group|
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||F|F|
|Cash|in|hand||||1,113,679|662,937|
|TOTAL||CASH|AND|CASH|EQUIVALENTS|1,113,679|662,937|
##
##
||||At 1 June||At 31 May|
|---|---|---|---|---|---|
||||2021|Cash flows|2022|
|Cash|at bank and|in hand|662,937|450,742|1,113,679|
|Debt|due within
1|year|(180,076)|21,947|(158,129)|
|Debt|due after 1 year||(878,424)|231,966|(646,458)|
||||(395,563)|704,655|309,092|
##
##
##
||||Group|Group|
|---|---|---|---|---|
||||2022|2021|
|||||E|
|Not later than||1 year|189,889|141,787|
|Later than|1 year and not later than 5years||533,264|261,708|
||||723,153|403,495|
##
##
##
##
|The following|was a|subsidiary
undert|aking
ofthe Charity:||||
|---|---|---|---|---|---|---|
|Name|||Company|Registered
office|or principal|Holding|
||||number|place ofbusiness|||
|China Fleet|Country|Club Limited|02527923|Saltash,
Plymouth,|PL12 6LJ|100'/o|
|The financial|results|ofthe subsidiary|for the year were:||||
|Name|||Income|Expenditure|Profit for|Net assets|
||||||the year||
||||||f.||
|China Fleet|Country|Club Limited|5,127,472|(4,366,872)|760,600|37,363|