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2021-12-31-accounts

Report ofthe Trustees I to 9
Report ofthe Independent
Auditors		 l0 to l3
Statement
ofFinancial
Activities
Balance Sheet l5
Cash Flow Statcmcnt
Notes to thc Cash Flow Statement 17
Notes to the Financial Statements l8 to 25
Detailed Statement ofFinancial Activities 26 to 27

y reviews, budget
allocation
a
roject outcomes
and milestones		 nd cash flow forecasting,
review o
in line with funding
objectives.		 f policies and procedures
alongside
TRUSTEES BOARD
Jim Dick OBE - Chairman
Charles Lewis, David Bishop, Teny Moran CBE(until 16.9.2 I},Deb Oxley OBE, DL
Strategic direction ofthe organisation
and receiving,
reviewing		 and approving
committee
reports.
AUDIT COMMITTEE HEALTH AND SAFETY REMUNERATION
COMMITTEE COMMITTEE
David Bishop - Chairman Jim Dick OBE - Chairman Charles Lewis - Chairman
Charles Lewis Jim Dick OBE
Terry Moran CBE(Chairman
until l6.9.2I)
Financial Processes Review and approval ofH&S Review ofpay and
including;
Internal
Review,		 Policies. Review ofall employment
conditions.
Risk Register, Review and incidents - office(s), Subsequent
review and
approval
ol'ICT and		 shore-based
activity,
and		 approval ofHR Policies.
Financial
Policies.		 sailing. Monitoring ofH&S Determine
and monitor
processes, inspections
and		 pension
arrangements.
implementation.

Mr T Moran CBE(resig ned
I6.9.2()
Company
Secretary
Mr E R C Lewis
Auditors
Harris Lacey and Swain
Chartcrcd
Accountants		 and Statutory Auditors
Su&te
I
The Riverside
Building
Hesslc
East Yorkshire
HUI 3 ODZ

2021 2020
Unrestricted Restricted Total Total
funds fluids funds funds
Notes f,
INCOME AND ENDOWMENTS FROM
Grants, donations
and		 legacies 74,518 546,038 620,556 563,182
Other trading
activities		 215,970 215,970 126,028
Investment
hlcollle		 31 31 128
Other income 24,996 24,996 24,996
Total 315,515 546,038 861,553 714,334
FXPENDITURE ON
Charitahle
activities
Charitable
activities		 312,914 546,038 858,952 688,024
NET INCOME 2,601 2,601 26,310
RECONCiLiATiON OF FUNDS
Total funds hrought forward 200,107 200,107 173,797
TO'I'AL FUNDS CARRIED FOItWARD 202„708 202,708 200,107

2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
Notes f.
FIXEDASSETS
Tangible assets 256,737 256,732 781„288
CURRENT ASSETS
Debtors 12 71,320 21,320 24,235
Cash at bank and in hand 233,146 233,146 235,961
254,466 254,466 260,196
CREDITORS
Amounts
falling		 due within one year 13 (94,509) (94,509) (95,099)
NET CURRENT ASSETS 159,957 159,957 165,097
TOTAL ASSETSLESSCURRENT
LIABILI TIES 416,689 416,689 446,385
CREDITORS
Amounts
fallin&		 due after more than one year 14 (32,699) (32,699) (40,000)
LSP Vessel Grant 14 (181,282) (181,282) (706,278)
NET ASSETS 202,208 - 202.708 200.107
FUNDS
Unrestricted
funds		 202,708 200,107
TOTAL FUNDS 202,708 200,107

2021 2020
Notes f.
Cash flows from operating activities
Cash generated
from operations
interest paid		 12,057
(1,639)		 103,569
~966)
Net cash provided
by operating
activities		 10,418 102,603
Cash flows from investing activities
Purcliasc oftangible
fixed assets		 (9,983)
interest received 31 128
Nct cash (used in)/provided by investing activities (9,952) 128
Cash flows from financing activities
Loan repayments
in year		 (2,333)
Rounce Rack Loan 40,000
Net cash (used in)/provided by tinancing activities ~2,333) 40,000
Change
in cash and cash equivalents		 in
the reporting
period		 (1,867) 142,731
Cash and cash equivalents at the
beginning
ofthc reporting		 period 235,013 92 282
Cash and cash equivalents at thc end of
the reporting
period		 233,146 235,013

2021 707Q
Net income for the reporting period (as per the Statement ofFinancial
Activities) 2,601 26,310
Adjustments for:
Depreciation charges 34,539 31,244
Interest received (31) (128)
Interest paid 1,639 966
Decrease in debtors 2,915 75,822
Decrease in creditors (29,606) (30,645)
Net cash provided by operations )2067 103,569
ANALYSIS OF CASH AND CASH EQUIVALENTS
2Q71 2020
Cash in hand 163 82
Notice deposits (less than 3 months) 232,983 235,879
Overdrafts
included		 in bank loans and overdrafts falling due within one year (948)
Total cash and cash equivalents 233,146 235,013
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.21 Cash tlow At 31.17.21
f.
Net cash
Cash at bank and in hand 235,961 (2,815) 233,146
Bank overdraft (948) 948
735,013 (1,867) 233,146
Debt
Debts falling due within 1 year (4,968) (4,968)
Debts falling due after 1 year ~60,000) 7,301 ~32.699)
(40,000) 2,333 (37,667)
Total 195,013 466 195,479

Armed Forces Convent Armed Forces Convent Trust 635,000
Rank Foundation f25,636
Big Lottery Fund f91,967
CLLD EISFFunding Hull & Scunthorpe f56,598
Fastnet (varying
individuals)		 fA4,891
Fishmongers
Company		 Charitable & Philanthropy Trust f40,000
Gartield
Weston		 f30,000
Trusthouse
Foundation		 f30,000
Youth Future Fund f169,000
OTHER TRADING ACTIVITIES
2021 2020
K
Corporate
and other income		 215„970 126.028
4. INVESTMENT INCOME
2021 2020
f f,
Deposit account interest 31 128
5. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 6) Totals
Charitable
activities		 692,069 166,883 858,952

Indirect Governance
costs costs Totals
8 8
163„383 3,500 166,883
Support costs, included
in the above, arc as follows:
2021 2020
Wages 108,675 121,228
Rent, rates, waler and refuse 19,482 16,566
Insurance 16,652 13,176
Light and heal 2,742 2,536
Tclcphone 4,060 3,460
Post slationety and printing 1,483 822
Int'ormation
technology		 6,932 4,513
Repairs anti renewals 1,718 454
lntcrcst payable and similar charges 1,639 966
Audilors'
rcmuncra(ion		 3,500 3,500
166,883 167,221
2021 2020
K f.
3,500 3,500
34,539 31,244

2021 2020
Gross Wages 544,696 437,876
Employers NIC costs 50,406 40,728
Employers Pension costs 12,152 9,833
607,254 488,437
The average monthly number ofemployees during the year was as follows:
2021 2020
Management Ec Administration 4 3
Sailing 2 2
Programme Delivery 17 13
23 18

Unrestricted Rcstrictcd Total
funds tl.lnds I'1mds
f f.
INCOME AND ENDOWMENTS FROM
Grants, donations
and		 le *acies 309,728 253,454 563,182
Other trading
activities		 126,028 126,028
Invcstnlcllt
If lconlc		 128 128
Other income 24,996 24,996
Total 460,880 253,454 714,334
EXPE'NDITURE ON
Charitable
activities
Charitable
activities		 434,570 253,454 688,024
NFT INCOMF. 26,310 26,310
RECONCILIATION OF FUNDS
Total funds brought forward 173,797 173,797
TOTAL FUNDS CARRIED FORWARD 200,107 200,107
TANGIBLE FIXED ASSETS
Cotllputer
Vcsscl equipmcnt Totals
f.
COST
At
I January 2021		 624,878 12,737 637,615
Additions 9,983 9,983
At 31 Deccmbcr 2021 674,878 22,720
DEPRECIATION
At
I January
2021		 343,590 12,737 356,327
Charge for year 31,244 3,295 34,539
At 31 December 2021 374,834 16,032 390,866
NET BOOK VALUE
At 31 Dccembcr 2021 250,044 6,688 256,732
At 31 Dcccmber 2020 181, 88 I8!,288

DEBTORS:AMO UNTS FALLING DUE WITHIN ONE YEAR
2021 2020
Trade debtors 10,875 11,588
VAT 3,236
Prepayments 10,445 9,411
21,320 24,235
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
Bank loans and overdrafts (see note 15) 948
Other loans (see note 15) 4,968
Trade creditors 10,957 7,687
Social security and other taxes 16,288 13,768
VAT 420
Deferred income 52,236 65,479
Accrued expenses 9,640 7,217
94,509 95,099
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAiV ONE YEAR
2021 2020
Other loans (see note 15) 32,699 40,000
LSP Vessel Grant 181.282 206,278
213,981 246,278
2021 2020
Vessel Grant at I January 206,278 231,274
Less: Amortisation ofGrant 24,996 24,996
Vessel Grant at 31 December 181,282 206,278

LOANS
An analysis ofthe maturity ofloans is given below:
202l 2020
Amounts
f'tiling duc within
onc yeai on deiuand:
Bank overdrafts
Other loans 4,968
4,968 948
Amounts
falling between		 one and two years:
Other loans - l-2 years 4,9(ig
Amounts
falling due between		 two and five years:
Other loans - 2-5 years l9,S7 l 40,000
Amounts
tailing duc in more		 than five years:
Repayable
by instalmcnts:
Other loans more 5yrs 7,860

Resources
Incoming Resources Expanded Movement
Unrestricted
Funds
General Fund 315,515 (312,914) 2,601
Total 315,515 (312,914) 2,601
Restricted Funds
The Rank Foundation 24,971 (24,971)
Big Lottery Fund 91,967 (91,967)
Garfield Weston Foundation 30,000 (30,000)
Job Centre Plus 6,072 (6,072)
Trusthouse
Foundation		 30,000 (30,000)
ASTO 1,284 ( L284)
Humber
Learning
Consortium		 7,076 (7,076)
Hull CLLD 26,064 (26,064)
Scunthorpe
CLED		 30,534 (30,534)
ABF Soldiers 10,500 (10,500)
Tribune Trust 4,000 (4,000)
Armed Forces Covenant Trust 35,000 (35,000)
Youth Future Fund 169,000 (169,000)
Joseph and Annie Cattle Trust 5,000 (5,000)
Sail Training
youth Development		 Fund 6,000 (6,000)
SSE 3,679 (3,679)
Joseph Rank 750 (750)
Hesslewood
Children's		 Trust 2,000 (2,000)
Fastnet 44,891 (44,891)
Hymers
School		 11,250 (11,250)
Larsons/SCMS 6,000 6,000)
Total 546,038 (546,038
Total Fund Movements 861,553 858,952 2)601

2021 2020
INCOME AND ENDOWMENTS
Donations
and legacies
Donations 26,128 70,196
Grants for delivery ofprogrammcs 594„428 492,986
620,556 563,187
Other trading
activities
Corporate
and other		 income 215,970 126,028
Investment
income
Deposit account interest 128
Other income
Amortisation
ofVessel Grant		 24,996 24,996
Total incoming
resources		 861,553 714,334
EXPENDITURE
Charitable
activities
30in30 31,266
Ol I shore sailing 57,848 49,408
Vessel maintenance 16,984 24,082
Programme
delivery		 36),360 47,447
Oil shot cstal I costs 432,503 249,857
Off shot'e staff costs 78,962 66,791
Programme
deliver		 expenses 5,140 3,041
Vehicle hire 5, 192 1,492
Dcprcciation oftangible and hcritagc assets 34,539 31,244
Employer
pension cost		 12,152 9,833
Insurance 2,935 6),342
Office marketing 9,454
692,069 570,803
Support costs
Indirect costs
Wages 108,675 171,278
Rent, rates, water and rerlisc 19,482 16,566
Insurance 16,652 13,176
Light and heat 2,742 2,536
Telephone 4,060 3,460
Post stationery
and		 printing 1,483 822
Information
technology		 6,932 4,513
Carried
fonvard		 160,026 162,301

2021 2020
f
Indirect costs
Brought forward 160,026 162,301
Repairs and renewals 1,718 454
Bank loan interest 565
Bank charges 1,074 966
163,383 163,721
Governance
costs
Auditors'
remuneration		 3,500 3,500
Total resources expended 858,952 688,024
Net income 2,601 26,310