##
|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|
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##
|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|||
##
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##
##
##
##
##
||||||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|