MERSEYSIDE ADVENTURE
SAILING TRUST
ANNUAL REPORT &
FINANCIAL STATEMENTS FOR YEAR
ENDED 30TH NOVEMBER 2024
Company Number: 07078584
Charity Number: 1140905

MERSEYSIDE ADVENTURE SAILING TRUST
CONTENTS
Pagg
Trustees, Annual Report
Statement of Trustees, Responsibilities
Independent's Examiners Report
Statement of Financial Activities
8a18nce Sheet
Notes to the Financial Statements

MERSEYSIDE ADVENTURE SAILING TRUST
TRUSTEES'ANNUAL REPORT FOR YEAR ENDED 30TH NOVEMBER 2024
The trustees are ploased to present their annual report for the year ended 30th November
2024.
The financial statements have been prepared in accordan￿ with the charity's trust deed.
the Charities Act 2011 and Accounting and Reporting by Charities.. Slalement of
Recommended Practice applicable lo charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland published
IFRS 1021 effective 1st January 2019.
OBJECTIVES AND ACTIVITIES
The aims of Merseyside Adventure Sailing Trust IMASTI are- _
To promote by all exclusively charitable m6ans the menlal, spiritual, moral and physical
development and improvement of young people and to provide opportunities for them to
develop their full capabilities and enable them to become responsible members of society
so that their conditions of life may be improved.
To advanc8 the education and training of young people up lo the age of 25 years, who are
particularly but not exclusively from Merseyside (the "beneficiaries") in lal the skills
associated with the building and operation of seagoing vessels, {b) seamanship and
navigation. Icl marilime history. We use sailing and th8 instruction of young people in all
matters relating lo sailing as a means for improving the m8ntal and physical development of
those young people.
ACHIEVEMENTS AND PERFORMANCE
Lady Dodd has conlinu8d as our President and makes a significant donation lo
support MAST with continuing lo provide lifetime experiences for young people. Lady
Dodd's support goes beyond simply financial, and she is actively involved in
promotional activity and Awards ce￿Mony.
MAST ¢onlinues to expand its relationships with local organisationslbusinesses,
schools, colleges, soci81 groups, academies. from the UK and Ireland
In particular, we hav8 maintained our close supportive partnership with Sail Training
Ireland.
Managed and delivered 'The Sir Ken and Lady Dodd Tall Ship Experience, 136
trainees11610 30 years) from different organisalions.. education providers, emergency
services, social services.
'The Sir Ken and Lady Dodd Tall Ship Experience, 2023 involved Young people from..
1. Princess Trust
2. A&P Holdings
3. Cammel Lairds
4. Peel ports
5. Sellafield
6. Vibe
Conlinue¢J the development of a new website and social media strategy to gain
maximum impact on the wider community.

MERSEYSIDE ADVENTURE SAILING TRUST
TRUSTEES'ANNUAL REPORT FOR YEAR ENDED 30TH NOVEMBER 2024
Having ￿¢&iVed £10,000 from National Lottery Awards for All the previous year we
worked wilh Brian Rodg8rs of Vibe to create a Youth Council to bring the vi6ws of
young people into the ongoing debate of the future directior¢ of MAST
Awards Celebration event at The Liner Hotel
Appointment of 3 new Trustees to broaden the experience of the Board
FINANCIAL REVIEW
Total income for the year was £83.048 12023.. £84,719) of which £2.500 (2023: £13,063),
related to funding for projects upon which restrictions are placed.
Total expenditure for the year was £53,948 (2023: £77,253), leaving a surplus for the ye8r
of £29,10012023.' surplus £7,466)
At 30th November 2024 the charilable company's reserves stood at £50,52612023.' £21,426)
of which £4,204 {2023.. £10,563) represented restricted funds.
RISK MANAGEMENT
The mairn risks, to which the charitable company is exposed, as identified by the Trustees,
have been considered and systems established to mitigate those risks.
MAST are very conscious of the need to manage our financial resources with care and
prudence. In order lo achieve that governance 851 our projects are linancially planned before
the activity commences and are regularly reviewed by the Trustees. From 2020 MAST a￿,
in additlon to this, financial planning to establish a contingency fund from which expenditure
has lo be approved by the Trustees. The Charitable Company has limited fixed cost
liabilities, for example website. and no employees or assets th81 require regular expendilure.
The financial risk lo the Charity is thereforo easily managed and not regarded by the
Trustee5 as significanL
RESERVES POLICY
It is the policy of the charity lo maintain unreslricled funds, which are free reserves at a level
to allow the charity to continue its activities for three months should no further funding be
received.
As at the er¢d of the financial year the unreslricled funds totalled £46,322. The charity
requlres £11,272 for Ihr8e months, running costs.
The development of new mission relevant commercial products is enabling MAST to access
new markets. We are now particularty focused on buildin9 commercial relationships with
corporate, educational and charitable partners alon9side our long4stablished activities with
th8 g8neral public.
Reserves are currently under what the organization requires, the Iruslees plan to build up
the unrestricted reserves by increasing the amount of funding.
PLANS FOR THE FUTURE
Developing maritime educational and research programrnes
Continue to expand the Tall Ship Experien¢e
Establish a long term infra-slwclure for the Charity
Promote the Youth Council- invite two members lo join the Iruslees.
Launch an integrated Soci81 Media Strategy

MERSEYSIDE ADVENTURE SAILING TRUST
TRUSTEES'ANNUAL REPORT FOR YEAR ENDED 30TH NOVEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
The organisation Is a charitable company limited by guarontee. incorporated on 17th
November 2009 {Company number 070785841 and registered as a charity on 291h March
2011 (Charity number 1140905).
The Goveming Instruments under which the charit8ble company operates comprise the
Memorandum and Articles of Association dated 17th November 2010.
REFERENCE AND ADMINISTRATIVE DETAILS
Merseyside Adventur8 Sailing Trust
07078584
NAME
COMPANY NUMBER
CHARITY NUMBER
REGISTERED OFFICE
1140905
11 Stralhallan Close
Wirral. England
CH60 6SU
TRUSTEES
Peter Elson
James Graves
Shulah Jones
Claire McKay
Trevor Mawhinney
Kevin Rodgers
James Graves
(Resigned 281h June 2025)
(Appointed 1 Sl January 20251
(Appointed 161 January 20251
SECRETARY
INDEPENDENT
EXAMINER
(Resigned 28th June 20251
Ying Huang FCCA
clo LCVS,
151 Dale Street,
Liverpool.
L2 2AH
BANKERS
HSBC
99-101 Lord Street
Liverpool
L2 6PG
Signed on behalf of the Board of Trustees
T Mawhln
Director

MERSEYSIDE ADVENTURE SAILING TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
Company law requires the Ttuslees (who ar8 also the d1￿ClOrS for the purposes of company
lawl, to prepare financial slalements for each financial year which give a true and fair view
of the state of affairs of the charitable company as al the balan￿ sheet date and of ils
incoming resources and application of resources, including income and expenditure, for the
financial year. In preparing those financial statements, the Tnjstees should follow best
practice and..
select suitable accounting policies and then apply them consistently.
make judgements and estimates that are reasonable and prudent.,
prepare the financial statements on the going Goncern basis unless it is inappropriate
to assume Ihal the company will continue on that basis
The Trustees a￿ responsible for maintaining proper accountlng records which disclose with
reasonable auuracy at any time the financial position of the charitable company and to
enable them to ensure that the financial statements Comply with the Companies Act 2006.
They are also responsible for Safeguarding the assets of the charitable company and hence
for taking reasonable steps for the prevention and detection of fraud and other irregu18rities.
The financial statements have been prepared in accordance with the charity's trust deed,
the Charities Act 2011 and Accounting and Reporting by Charities.. Slalement of
Recommended Practice applicable to charities preparing their accounts in a¢¢ordance with
the Financial R8POrting Standard applicable in the UK and Republic of Ireland published
IFRS 1021 effective 1 January 2019.
By the Order of the board,
T Mawhlnney
Trustee
11 Strathallan Close
Wirral. England
CH60 6SU
Date:...

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MERSEYSIDE ADVENTURE SAILING TRUST
I report on the accounts of the charity for the year ended 30th
Nov6mb8r 2024 which a￿ set out on pages 7 to 15.
The charity's trustees 8re responsible for the prep8r8tion of the
accounts. The charity's trustees consider that an audit is not
required for this year under section 144 of the Charities Act 2011
Ilhe Chari118s Act) and Ihal an independent examination is
needed.
It Is my responsibility to:
examine the accounts under sectlon 145 of the Charities Act,
lo follow the procedu￿8 laid down in the general Directions
given by the Charity Commission (under section 145(5llb) of
the Charities Act, and
lo slate whether particular matters have come to my attention.
My examination was carried out in accordan￿ with general
directions given by the Charity Commission. An examination
indudes a review of the 8¢¢ounting records kopt by the charity
and a comparison of the accounts presented with those records.
It also includes consideration of any unusual items or disclosures
in the accounts, and seeking explanations from the trustees
corsceming any such matters. The Pro￿dureS undertaken do not
provide all the evidence that would be required in an audit, and
consequently no opinion is given as to whether the accounts
prgs8nt a 'true and fair, view and the report 18 limited lo thos6
m8tters sel out in the statement below.
In connection with my examination, no matter has come to my
att9ntion'.
111 which gives me reasonable cause to believe that in any
material respect the requirements-.
to keep accounting records in accordance with section
130 of the Charities Act-
Res
ective
res
onsibiliti&s of
trustees and examiner
B8sis of In
endent
X8miners st temgnl
Inde
endent exa
statement
to prepare accounts which accord with the accounting
records and comply with the accounting requirements
of the Charities Act
have not been mel., or
(2) to which, in my opinion, attention should be drawn in order lo
enable a proper understanding of the accounts to be
reached.
Name:
Ylng Huang
Relevant professional qualification or body. FCCA
Address: c/0 LCVS 151 Dale Strget. L2 2AH
Dated..

MERSEYSIDE ADVENTURE SAILING TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & ExpeNDITURE ACCOUNTI
FOR THE YEAR ENOED 30TH NOVEMBER 2024
Notes Unrestricted Rgstri¢tsd
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
Income and endowmonls
from:
Donations and legacies
Charitable activities
3a
3b
68.598
11,950
68,598
14,450
38,154
46.565
2.500
Total Income
80,548
2,500
83,048
84,719
Expendlture on:
Charitable activities
45,089
8,859
53.948
77,253
Total expgndlture
45,089
8.859
53,948
77,253
Net Income. net movement In
funds
35.459
16,3591
29,100
7,466
Funds balances brought
forward
9,10
10,863
10,563
21,426
13.960
Funds balan¢•s carrfed
forward
8-10
46,322
4,204
50,526
21,426
The notes on pages 9 to 15 form part of these accounts.
All the above amounts relato lo continuing activities of the charitable company.

MERSEYSIDE ADVENTURE SAILING TRUST
BALANCE SHEET AS AT 30TH NOVEMBER 2024
Company Number.. 07078584
Notes
30th November 2024 30th N0vom￿r 2023
Flxed assets
Tanglble flxed assets
168
248
Current assets
Debtors
Cash al bank and in hand
12,500
38,673
850
21,114
51.173
21,964
Current liabilities
Creditors.. amounts falling
due within one year
{815)
1786)
Net cuwrent assels
50.358
21,178
Total assets 1088 current
Ilabllltles
50,526
21.426
Funds:
Unrestricted funds
Restricled funds
46.322
4,204
10,863
10.563
8,10
50,526
21,426
These financial slatements have been prepared in accordance with the Financial Reporting
St8nd8rd applicable in the UK and Republic of Ireland {FRS1021.
These accounts have been prepared in accordance with the provlsions 8pplicable lo small
companies subject to the sm811 companies, regirne and in accordance with FRS102 SORP.
For the period covered by thesè accounts the Company was entitled to exemption under
section 477 of the Companies Act 2006 relating lo small companies.
No membars have required the company to obtain an audit of its accounts for the year In
question in accordance with seclion 476 of the Companies Act 2006.
The tnjstees, who a￿ the directors of the company, acknowledge their responsibility for
complying with the requirements of the Act wilh ￿SpeCt lo accounting records and the
preparation of financial stalemenls.
Approved by th• Board on ............
and signod on thelr behaff by..
T Mawhinnoy
Dlrector

MERSEYSIDE ADVENTURE SAILING TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 30TH NOVEMBER 2024
1. Llmlted Liability
The charity is a company limited by guarantee. Each member's liability is limited to £1.
2. Accounting Policles
The accounts have been prepared under the historical cost convention with items recognised
al cost or transaction value unless otherwise slated in the relevant notels} lo these accounts.
The financial slalements have been prepared in accordance With the charity's trust deed, the
Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable In the UK and Republic of Ireland published IFRS 1021
effective ISI January 2019.
The ac¢ounl8 are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded lo the nearest £.
The Charitable Company has taken advantage of the provisions in the SORP for Charities
applying FRS 102 Update Bulletin 1 not lo prepare a Statement of Cash Flows.
Going concern
At the time of approving the accounts, Iha trustees have a reasonable expectation that the
charity has adequate ￿serveS lo continue in operational existence for the foreseeable future.
Thus the trustees continue to adopt the going concem ba8is of accounting In preparing the
accounts.
Fund accounting
Unrestricted funds are the Charitable Company's free reserves available for the trustees to
apply in accordance with the charitable company's charitable objectives.
Restricted funds are subject to specific restrictive conditions imposed by the donor. All
restricted funds are accounted for as restricted Incorne and expenditure for the purposes is
charged to the fund.
Incomo rocognitlon
All income is recognised once the charity has entitlement lo the income, there is sufficient
certainty of receipt and so it is probable that the income will be received, and tho amount of
income receivable can be measured reliably.
Donations and legacies compris8 of donations and general grants which are recognised in
the accounts when received, with the exception of known legacies which are accounted for
when their receipt is certain.
Income from charltsble activities is recognised on an accrual's basis except for grants
receivable. which are recognised on the date on whith their unconditional payment is
conf1m￿d by the donor.
Exp6ndlture recognltlon
Liabilities ar8 ￿CogniSed as soon as there is a legal or constructive obligation committing the
charitable Company lo that 8xpenditure, il is probable that settlement will b8 required, and the
amount of the obligalion Gan be measured reliably.

MERSEYSIDE ADVENTURE SAILING TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 30TH NOVEMBER 2024
All expenditure is accounted for on an accrual basis. All expenses, includlng support costs
and governance costs, are allocated or apportioned to the applicable expenditure headings
in the Statement of Financial Activities.
Support and governance costs are applied lo unrestricted funds unless specifically included
in the restrictions, as specified by the donor. Expenditure on charitable activities relate lo the
operation of the charity comprising of direct charitable expenditure to meet the objectives of
the charitable company. Support and governance costs relate to the management and
operation of the organisation and also compliance with constitutional and slalutory
requirements in producing the annual report. These are dealt with in the Statement of
Flnancial Activities when payment has been approved by the charitable company.
Fixed Assets
Capital expenditure is stated in the balance sheet at cost less accumulat8d depreciation.
Depreciation is provided to write off the cost of each asset over ils expected useful life as
below
Computer Equipment
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with b8nks, other short-
term liquid investments with original maturities of th￿fr months or less, and bank overdrafts.
Flnanclal Instruments
The charily has elected lo apply the provisions of Section 11 'Basic Financial Instruments,
and Section 12 '0ther Financial Instruments Issuos. of FRS 102 to all of ils flnancial
instruments.
20 /0 per annum straight-line basls
Financial instruments are recognised in the charity's balance sheet when the charity becomes
party lo the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the nel amounts presented in the financial
ststemenls, when there is a legally enforceable right lo sel off the recognised amounts and
there is an intention lo settle on a net basi$ or to realise the asset and settle the liability
simultaneously.
Basic financial assets
Basic financial assels, which include debtors and cash and bank balances, are initially
measured 81 transaction price including transaction costs and are subsequentty carried at
amortised cost using the effgctive interest method unless the arrangement constitutes a
financing transaction, where the transaction is measured at the present value of the futu
¢eipts discounted al a market rate of interest. Financial assets classified as ￿Ceivable within
one year are not amortised.
Baslc flnancial liabilities
Basic financial liabilities, in¢lvding creditors and bank loans are initially recognised at
transaction price unless the arrangement constitutes a financing transaction. where the debt
instrument is measured al the present V81ue of the future receipts discounted at a market rate
of interest. Financi81 liabilities classified as payable within one year 8re not amorlised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rale
method.
-10-

MERSEYSIDE ADVENTURE SAILING TRUST
NOTES TO THE FINANCJAL STATEMENTS FOR YEAR ENDED 30TH NOVEMBER 2024
De recognilion of finan¢lal liabllltles
Financial liabilities are derecognised when the charity's contractual obligations expire or are
discharged or cancelled.
Crltlcal accountlng estlmatgs and Judgemenls
In the application of the charity's accounting policies, the trustees are reqUI￿d lo make
judgements, estimates and assumptions about the carrying amount of assets and liabilities
that are not readily apparent from other sources. The estimates and associated assumplions
are based on historical experience and other factors that are Gonsidered lo be relevant. Actual
results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to
accounting estimates are recognised in the period in which the estimate is ffjvised where tha
revision affects only that period, or in the period of tho revision and future periods where the
revision affecls both current and future periods.
Taxatlon
Income and gains are exempt from taxation as they a￿ received and applied for Gharilable
purposes only. The charitable company benefit from various exemptions from tsxalion
afforded by tax legislation and is not liable to corporation tax on income or gains falling within
those exemptions.
3. Income and endowments from
Unrestricted Restri¢ted
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
a. Donatlons and Legacles
Donations
Gift Aid
56.098
12,500
56,098
12.500
38,154
68.598
68.598
38,154
Income from donations and legacies in 2023 related wholly to unreslricted funds
b. Charltable activili8S
Community Foundation
National Lottery Awards for All
Participants, contribution
Skellon Charity
2,500
2,500
2,500
10,000
33,502
563
11.950
11,950
11.950
2,500
14,450
46.565
Income from charitable activities in 2023 relaled lo £33.502 unrestricted funds and £13,063
restricted funds.
-11-

MERSEYSIDE ADVENTURE SAILING TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 30TH NOVEMBER 2024
4. Expendlture on Charltable Actlvltles
DirgGt Support &
Charltable GovernanGe
Expendlture
Costs
Total
2024
Totsl
2023
To promote. educate and train
young people thè skill
associated with the building and
operation of seagoing vessels.
51,063
2,886 $3,949
77,253
a} Analysed as follows..
2024
2023
Direct charitable expenditu￿..
Award5 dinner
Voyage fees
Mentors, fees
Project manager fees
Activities
Rent
Room hire and refreshments
4,088
34.071
5,050
5,802
31,797
3.600
12,900
13,917
3.000
256
6.906
850
98
51,063
71,272
Support & Govem8nc8 Costs..
Office costs
Intemel and website
Insurance
Travel expenses
Training
Ballk and ¢redit card fees
Professional fees
DBS fees
Accountancy
Depr6ciation
308
984
2,632
237
81
122
90
174
1,753
32
780
80
239
165
300
809
80
2,886
5,981
Total expenditure on
charilable aGtlvities
53,949
77,253
£8.859 {2023'. £5,676) of the above expenditure relates to restricted funding.
bl Staff.. There were no employees. (2023.. nil).
-12-

MERSEYSIDE ADVENTURE SAILING TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 30TH NOVEMBER 2024
The Trustees, being also the directors of the company. are not remuneiated for their
services and are therefore not counted as employees.
5. Tonglble flxed assets
Computer
Equipment
Totsl
Cost
Balance al 1st December 2023
Addillons during the year
402
402
Balance al 31st November 2024
402
402
Accumulated Depreciation
Balance al 1 sl December 2023
Charge for the year
154
80
154
80
Balance al 31st November 2024
234
234
Net Book Value at 318t Novombor 2024
168
168
Net Book Value at 31st November 2023
248
248
There were no capital commitm8nts at the yeai end. (2023.. Nil)
6. Debtors
2024
2023
Debtors
Prepayments
12,500
850
12,500
850
7. Credltors: amounts falllng due wlthln one year
2024
2023
Accruals
815
786
-13-

MERSEYSIDE ADVENTURE SAILING TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 30Th NOVEMBER 2024
8. Analysls of Net Assets between Funds
Tangible Net Current
Fixgd
Assets
Assets
Total
2024
Unrestri¢tgd Funds
General Fund
168
46,154
46,322
RestrlGtèd Funds
National Lottery Awards for All
4,204
4,204
168
50,358
50.526
Tangible Net Current
Fixed
Assets
Ass•t$
Total
2023
Unrestricted Fund$
General Fund
248
10,615
10,863
Restrlcted Funds
National Lottery Awards for AJI
Skelton Charity
10,000
563
10.000
583
248
21.178
21,426
9. Unrostricted Funds
Movements In the Year
Income Expondituro
Roserves
at Beglnning
of year
Reserves
at End
of year
2024
General Fund
10.863
80.548
145,089)
46.322
overnents In the Year
Income Expendlture
Reserves
at Beginnlng
of year
Reserves
at End
of yoar
2023
General Fund
10,784
71,656
171,577)
10,863
-14-

MERSEYSIDE ADVENTURE SAILING TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 30TH NOVEMBER 2024
The General Fund is used lo finance the charitable company's general aclivilies as
outlined in th8 Trustees, Report.
Restrlcted
Movements in the Year
InGome Expenditure
Resgrv05
at Beglnnlng
of year
Reserves
at End
of year
2024
Community Foundation
Nation81 Lottery Awards for All
Skelton Charity
2,5000
{2,5001
{5,796)
{5631
10,000
563
4,204
10.563
2.500
8,859
4,204
Movements In the Year
Income Expendlture
Reserves
at Beginning
of year
Reserves
at End
of year
2023
Community Foundation
National Lottery Awards for All
Skelton Charity
2,500
10,000
563
(2,5001
(3,176)
3.176
10,000
563
3,176
13,063
5,676
10,563
These are monies given to the Chartt8ble company to be spent at the discretion of the
Board of Trustees for specific charitable purposes.
Communlty Foundatlon- Contribution towards MAST operation.
National Lottery Awards for All- Contribution towards MAST operation.
Skelton Charity- Contribution towards IT equipm8nt
10. Operatlng Lease Commitments
There were no Lease Commitments
11. Related Party Transactlons
There were no related party transactions.
12. Guarantees
As 8130th November 2024, 6 members Ikad given a guarantee of £1 oach in the event of
the company winding-up. Total: £6 (2023.. 4 members £4).
-15-