Registered Company Number: 7621461 Registered Charity Number: 1142761
## **Frensham Pond Sailability**
**Annual Report and Financial Statements for the Year Ended 31 October 2021**
1
## **Frensham Pond Sailability Annual Report and Financial Statements for the Year ended 31 October 2021**
## **Contents**
||Page No.|
|---|---|
|Report of the Trustees|3|
|Report of the Independent Examiner|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Accounts|12|
2
**Frensham Pond Sailability Report of the Trustees for the Year ended 31 October 2021**
The trustees, who are directors of the Company for the purposes of company law, are pleased to present their report, together with the financial statements of the company for the period ended 31st October 2021.
## **Reference and administrative details**
|Company No:|7621461|
|---|---|
|Charity Number:|1142761|
|Registered Office:|Frensham Pond Sailability|
||_c/o_Frensham Pond Sailing Club,|
||Pond Lane,|
||Churt, Farnham,|
||Surrey GU10 2QA|
|Independent|PR Rickwood|
|Examiner:|Arcturus Securities Ltd|
||Maynes Green, Shepherds Hill|
||Haslemere|
||Surrey GU27 2NF|
|Bankers:|Lloyds TSB Bank plc.|
||75 Castle Street,|
||Farnham,|
||Surrey, GU9 7LT|
|Lawyers:|Moore Barlow LLP.|
||The Oriel,|
||Sydenham Road,|
||Guildford,|
||Surrey GU1 3SR|
## **Directors and Trustees**
The directors of the Charitable Company (the Charity) are its trustees for the purpose of Charity Law and throughout this report are collectively referred to as the trustees:
The Trustees serving throughout the period (except as noted) and were as follows:
Mr R.E. Bonner Mr B.D. Grimwood Mr DPM Inne ~~s (~~ Resigned 27 December 2020) Mr G.A. Machen Mrs W. Neal-Smith Mr P.J. Phillips (Resigned July 2021) Mr J.V. Richardson Mrs K. Richardson Ms M Pascoe (Appointed 9 February 2021)
3
**Frensham Pond Sailability Report of the Trustees for the Year ended 31 October 2021**
## **Structure, Governance and Management**
The Limited Company was incorporated on 5 May 2011 and was dormant until 6 July 2011 when Frensham Pond Sailability (FPS) was entered on the Register of Charities. These accounts cover the accounting period from 1[st] November 2020 to 31[st] October 2021.
## Governing Document
The company is limited by Guarantee and is governed by its Memorandum and Articles of Association dated 21st April 2011. It is a registered charity (No.1142761). The Sole Shareholder is Frensham Pond Sailing Club (FPSC) as ��������������������������������������� ������.
## Appointment of Trustees
The appointment of Trustees is undertaken by the Sole Shareholder. Following the resignation of Mr DPM Innes, the FPSC GC appointed Ms M Pascoe as their representative on the Board of Trustees. In addition, every year one third of the trustees must retire from office but are eligible for reappointment.
At their meeting of 3rd March 2021, the Trustees discussed succession planning and agreed to propose to the GC that the annual resignation and re-appointment of some trustees in the order of their last appointments in accordance with clause 15 of the Articles should be delayed to the GC September meeting. This proposal was submitted to the GC at their meeting on 7th March 2021. The GC approved the delay in submission of the proposals. At the GC September 2021 meeting, the Trustees approved the proposal for the resignations of Ted Bonner and Brian Grimwood on 31st December 2021, and John Richardson and Wendy Neal-Smith on 31st March 2022. They also approved the appointment of: Catherine Cook, Simon Crowther, Philip Knights, Paul Schroeder and Lisa Skirrow. These appointments were formalised at Companies House on 11th November 2021.
## Organisation
Administration of the affairs of the Charity is carried out by the Sailability Management Committee �������, which meets regularly throughout the year and is attended by the majority of the Trustees and other invitees as required. Trustees are always in the majority on the Committee. In addition, the Trustees meet as required and at least once a year.
## Risk Management
The Charity's management committee has assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Charity, and is satisfied that the systems are in place to mitigate our exposure to the major risks.
## Objectives and Activities
Frensham Pond Sailability ������������������������ is a registered charity whose objects are the provision and maintenance of sailing facilities and the promotion of sailing for recreation or other leisure activities (including without limitation recreational and competitive sailing) for disabled people with the object of improving their quality and conditions of life. Membership is open to adults and youngsters and a free taster visit is offered on the initial visit.
Financed largely by charitable donations, the Charity operates a sailing fleet of 29 boats at Frensham Pond, from the premises of Frensham Pond Sailing Club whose General Committee is the sole shareholder of Frensham Pond Sailability. Prior to the establishment of the company and registered charity, Sailability was established in September 2001 as a division of Frensham Pond Sailing Club.
The C������������������������������������������������������������������������ing a team of RYA qualified instructors who are available to assist with training and development of all levels of sailor, from novice to Paralympic racing standard.
4
**Frensham Pond Sailability Report of the Trustees for the Year ended 31 October 2021**
## **Achievements and Performance**
## General Overview
Frensham Pond Sailability resumed activities during 2021 albeit at lower than pre-COVID levels due to the prolonged restrictions imposed by the pandemic. 2021 Season highlights are the following:
- The Charity managed a full sailing season despite ongoing COVID restrictions. Buddy sailing resumed in August and pupils from the Undershaw School returned in September;
- Sailor memberships returned to healthy levels with a total of 101 members, 22 new and 79 returning. An overall total of 1300 sailing sessions was recorded, significantly up from 182 in 2020, though still below pre-COVID levels;
- The Charity hosted sailing events at the Club and sailing successes were achieved both on site � e.g. the Richard Smallwood trophy, the 10 hour race, The Frensham Hansa TT race � and away � e.g. the Hansa National at Rutland and the Ben Ainslie trophy awarded to the best overall team for 9 away events. Furthermore, four sailors participated at the Hansa World Championships in Palermo, Italy, proudly bringing home a bronze medal.
- Two remarkable awards were awarded to FPS members, the Sport Haselmere Disability Award 2021 and the Farnham Lions Endeavour Trophy;
- Financial viability was maintained despite the reduction in membership sailing fees and voluntary contributions�����������������������������������������������������������������;
- Investments in equipment and boats are continuing with two new boats (a Hansa 2.3wide and a 303), thereby resuming the fleet turnaround plans.
- Significant development progress was made on the new planned Activity Centre building on site, with the granting of outline planning permission. The Activity Centre aims to deliver a major improvement for both sailors and volunteers onshore by providing appropriate indoors space for training, reception, shelter and safety.
## Financial Review
Frensham Pond Sailability remains financially secure, despite a significant drop in income due to the Pandemic. Our regular donors continued to support us for which we are grateful, and we were able to save some expenditure due to the limited activity. We continue to invest in our assets and infrastructure and additional funding was promised for our new Activity Centre building.
## Policy on Cash Reserves
Our policy on Reserves remains the same, with our aim for an equivalent of between one and one and a ������������������������in a normal year to be held as Cash Reserves. Our Cash Reserves amounted to £41,201 which remains at the lower end of that range, however the Trustees are comfortable with this, given the exceptional nature of the last two years.
The unrestricted designated fund for new on-site facilities remained at £40,000 as the plans for the project progress.
5
**Frensham Pond Sailability Report of the Trustees for the Year ended 31 October 2021**
## **Plans for the Future**
The priority areas identified for 2021/22 are as follows:
- The main priority for 2022 will be to re-establish traditional activity levels from the beginning of the season and to see the return of all helpers and sailors who have been shielding during the last two years. We will see the return to full activity of the Saturday morning youth and progress groups and group visits from local special schools on Thursday mornings.
- Priority will be given to the re-integration and enthusing of sailors and volunteer helpers. Emphasis will be placed on volunteer training to ensure operational and safety skill levels are re-established and maintained.
- Subject to the successful completion of the fundraising programme in what is sure to be a challenging economic climate, it is hoped that the plans for new Frensham Pond Sailability Activity Centre will �������������������������������������������������������������������������
- Plans are also in place to mark Frensham Pond Sailabil�������1[st] Anniversary, replacing the (missed) 20[th] Anniversary celebration last year.
6
Frensham Pond Sailability
Report of the Trustees
for the Year ended 31 October 2021
Trustees. responsibilities in relation lo th¢ financial statements
The charity trustees are re5Fonsible for preparing a trustees. annual report and financial ststements in
accordance with applicable law and United Kingdom Accounting Standards(United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to ptEpare financial
statements for each year which give a tnJe and fair view of the state of affairs of the charity and of the
incoming resources and applicalion of resources. of the clwity forthat peri. In preparng the financial
statemenls. the trystees are required to..
sel¢ct suitable accounting policies and then apply them consistently"
obsetve the methods and principles in the applicable Charities SORP.
make judgements and estimatss that are reasonable and prudenL
state whether applicable accounting standards have been followed, subject to any material
deparreS that must be disclosed and explained in the financial statsments;
prepare the financial statements on the going concern basis unless it is inappropriate to presun
that the charity will Continue in business.
The trusfres a responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the fmancial position of the charity and to enabl¢ them to ensure thatthe financial
statements Comply with the Charities Act 2011. the applicable Charities (Accounts and Reports)
Regulations. and the provisions of the Trust de They are also responstble ftir safeguarding the assets
of the charity and taking Teasonable steps for the pffvention and detectiOTt of fraud and other
irregularities.
The tntstees atE resFrf)nsible for the maintsnance and integrity of the charity and financial infonnation
included on the charity's website in accordance with legislatio in the United Kingdom governing the
preparation and dissemination of financial statements.
Approved by th¢ trustees on li AQKI
2022 and signed on their khabY..
UL. (T .
Frensham Pond Sailabilily
Report of the Independent Examiner to the Trustees
for the Year ended 31 October 2021
I r¢piirt ijii Ihc aLCI)unts uf IliL' Ch4?rii! lorih¢ pcriod LndL'd 31 OL'lakr 2011 ivliicli lif¢ sel oui oil p3gTes
910 17.
Rt%pc(tLI'e re31)i)nsil)ilitie% (bf Iruilce% 4n(l examiner
iL' Iru%iLX% I1]Ll.7fL 01511 ihi dirL'Lli)rs111'iliL LLinipani' fDrilie purwscs()fLumpanv lawlttrL' resivnsibl¢
It is my rL%w)n8ibililv io..
¢xaminL' Ihc acci)unis under Section 145 ofihe Charilics ACL
to SldlL wlieihcr partiiular mali¢Tr lia¢ comtr 10 my allenlion.
B&si¥ nftn¢l¢pi'ndent examiner's rtporl
mailer%. ITh¢ pr¢durL.S undcrtakL'n do nal prnvi(Ic all IliL i%idcnLL' Ihal ivould bc rLyuired in audil,
and ci)nsL'4ULnilv nv c?PllllUll 1£ biiicn as lo .hell7¢r Ilic acLoiinis p[LL1 a 'lruL' and fair vie1¥ and tlie
rewrt 1£ limii¢d io Ihosc mailL'rs sci oul in the slaletneni below.
In cnniilctinn ilitli m> exGmin3tlnD. no malcrial mil llcrs hav¢ c(rnc 10 mv allL'nlion Mhich bliV me
us¥ in I1]eve thaL in any terial re5pecl.'
* accuuniinb records ¥4trc noi kcpi in accordanL¢ wilh sLtli()n 386 1)f thL' Lompanies Acl 200(i: or
IIIL acic)uni5 do iiol accord ilith su¢li rnxiirdq.. or
CompdniLS Aei ?006 nihcr thun rL'qlliremcnl Ihal thL aCLuunls si¢ 4 'lw¢ and fair. vii'w which
15 nnl a tnallerconsidLrnd as part of3n Inderndent ¢xaminolii)D' or
the Jccounls hawl ni?1 ¢ pr¢pJred in accordance wilh IhL' Ch3riliLS %(JRI)11--R%1021
ELIILiiiinn shi)uld bL' rdn in Illi% rert in ordL'r lo tnablc a Prt)r undcTStanding ufihc awoiinis 10 bL
DaiL':
fj¥-
l)R Rick'LK}d
Md)IlL5 GrLCll. %hL'pliLrd5 1 lill
uttL}. (111?7 2N
## **Frensham Pond Sailability Statement of Financial Activities for the Year ended 31 October 2021**
|Notes
**Income and endowments from:**
3
Donations and legacies
Charitable activites
Other trading activities
Investments
Separate material item of income
Other
**Total**
**Expenditure on:**
4
Raising funds
Charitable activities
5
Separate material item of
expense
Other
**Total**
**Net income/(expenditure) before**
**investment gains/(losses)**
Net gains/(losses) on investments
**Net income/(expenditure)**
Extraordinary items
Transfers between funds
**Net Movement in Funds**
**Reconciliation of Funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**Restricted**
**Income funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
17,860
- 17,860
24,275
5,291
- 5,291
1,695
3,889
- 3,889
992
108
- 108
415
-
- -
-
-
- -
2,850
**27,148**
**-**
**27,148**
**30,226**
320
- 320
177
16,492
25 16,517
13,995
-
- -
-
28,214
- 28,214
22,623
**45,026**
**25**
**45,051**
**36,795**
**(17,878)**
**(25)**
**(17,903)**
**(6,569)**
-
- -
-
**(17,878)**
**(25)**
**(17,903)**
**(6,569)**
-
- -
-
-
- -
-
**(17,879)**
**(25)**
**(17,904)**
**(6,569)**
151,467
1,262 152,729
**133,589**
**1,237 134,826**|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
9
##
||As|Balance Sheet
of31October2421|Balance Sheet
of31October2421|||
|---|---|---|---|---|---|
|||UnrestrietedRestricted||Totalfunds|Prioryear|
|||Funds|IncomeFunds||funds|
||Notes|||||
|||t|||t|
|Fixedassets||||||
|Intangibleassets||||||
|Tangibleassec||53.890||53,890|74,337-|
|lnvestments||||||
|Totolfixedassets||53,890||53,890|74,337|
|Currentassets||||||
|Stocks|7|||||
|Debtors|I|444||444|444|
|lnves(ments||||||
|Cash at bank andinhand||79,965|1,237|81,202|79,456|
|Totolcurrentassels||80,409|1,231|81,646|79,896|
|Creditors:amountsfallingdue||710||710|I,505|
|withinoneyear||||||
|Netcuilentassefi/(liobilities)||79,699|1,237|E0,936|7E39t|
|Totalassetslesscurrenlliabilities||r33589|1,237|134,826|152,729|
|Creditors:amountsfatlingdue||||||
|aftermore than one year||||||
|Totalnet assetsor liabilities||133,589|1,237|134,826|152,729|
|FundsoftheCharitv|10|||||
|Restrictedincomefunds|||t.237|t )?1|1,262|
|Unrestrictedfunds||I33,589||r33,589|tst.467|
|Totalfunds|12|133,589|1,237|134,826|152,729|
|Signed bytwotrustees/directors onbehalf ofall|||
|---|---|---|
|the trustees/directors|||
||K:",gtct-ir'q,ziSSoN,|tlat+fu>t|
||q fr,tutfrcttriD||
## **Frensham Pond Sailability Notes to the Financial Statements For the Year ended 31 October 2021**
_The attached notes form part of the financial statements_
11
## **Frensham Pond Sailability Notes to the Financial Statements For the Year ended 31 October 2021**
## **1. BASIS OF PREPARATION**
## **Basis of accounting**
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared ����������������������������������������������������������������������nd reporting by �����������preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in July 2014 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.
## **2. ACCOUNTING POLICIES**
## **2.1 Income**
## **Recognition of Income**
Income is included in the Statement of Financial Activities (SOFA) when:
- The charity becomes entitled to the resources;
- It is more likely than not that the trustees will receive the resources;
- The monetary value can be measured with sufficient reliability
## **Grants**
Grants are credited to income in the year in which they are received.
## **Volunteers and donated services**
The value of services provided by volunteers is not incorporated into these financial statements. Details of ��������������������������������������������������������������������������������
Where services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity, unless the amounts are insignificant.
## **2.2 Expenditure**
## **Recognition of Expenditure**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Resources expended are included in the Statement of Financial Activities on an accruals basis inclusive of any VAT, which cannot be recovered.
- Charitable activities include expenditure associated with the operation of the boats and equipment and include both the direct costs and support costs relating to those activities.
- Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
## **2.3 Assets**
## **Tangible Fixed Assets**
Fixed assets are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or donated value.
## **Depreciation**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings � Over 10 years, straight line basis. Boats & Boat Equipment � Over 6 years, straight line basis. Fixtures, Fittings and Office Equipment � Over 4 years, straight line basis.
## **Stocks**
Stocks held for sale are valued at the lower of cost and net realisable value, after adding due allowance for obsolete and slow moving items. Our stock levels remained at zero during the current financial year.
12
## **Frensham Pond Sailability Notes to the Financial Statements For the Year ended 31 October 2021**
|**3.**
**INCOME**||**Restricted**|**Year Total**|**Last Year**|
|---|---|---|---|---|
||**Unrestricted**|**funds**|**Funds**||
||**funds**||||
||**£**|**£**|**£**|**£**|
|**S01 Donations and legacies**|||||
|Donations received|2,502|-|2,502|5,723|
|Charity Donations received|14,500|-|14,500|18,065|
|Gift aid tax income|58|-|58|225|
|Grants received|800|-|800|-|
|Bequests and legacies|-|-|-|261|
|**Total**|**17,860**|**-**|**17,860**|**24,274**|
|**S02 Charitable activities**|||||
|Individual Membership Subs|4,385|-|4,385|1,695|
|Group Membership Subs|261|-|261|-|
|Income from Sailing Events|600|-|600|-|
|Summer BBQ Tickets|-|-|-|-|
|Sale of Misc Equipment|-|-|-|-|
|Other Social Events income|45|-|45|-|
|**Total**|**5,291**|**-**|**5,291**|**1,695**|
|**S01 + S02 Total**|**23,151**|**-**|**23,151**|**25,969**|
|**S03 Other trading activities**|||||
|Fundraising Events income|236|-|236|-|
|Clothing for Re-sale|2,038|-|2,038|347|
|Stock Sales|-|-|-|-|
|Stock Cost of Sales|-|-|-|-|
|Other Trading Activities|130|-|130|-|
|Proceeds from Other Sales|1,485|-|1,485|645|
|**Total**|**3,889**|**-**|**3,889**|**992**|
|**S04 Investments**|||||
|Interest received|108|-|108|415|
|**Total**|**108**|**-**|**108**|**415**|
|**S06 Other**|||||
|Gain/Loss Sale of Fixed Assets|-|-|-|2,850|
|**Total**|**-**|**-**|**-**|**2,850**|
|**Total Income**|**27,148**|**-**|**27,148**|**30,226**|
13
## **Frensham Pond Sailability Notes to the Financial Statements For the Year ended 31 October 2021**
|||**Unrestricted**|**Restricted**|**Year Total**|**Last Year**|
|---|---|---|---|---|---|
|**4. EXPENDITURE**||**funds**||**Funds**||
|||**£**|**£**|**£**|**£**|
|**S08 Raising funds**||||||
|Marketing Expenses||108|-|
108|81|
|Fundraising platform fees||192|-|
192|96|
|Membership of organisations||20|-|
20|-|
||**Total**|**320**|**-**|
**320**|**177**|
|**S09 Charitable activities**||||||
|FPSC Membership||7,710|-|7,710|7,482|
|FPSC Fees for other members||-|-|
-|83|
|Insurance Contribution||1,932|-|1,932|1,753|
|Boat Purchase associated costs||58|-|
58|62|
|Boat Equipment||1,156|-|1,156|336|
|Sailing Clothing & Buoyancy||192|-|
192|-|
|Safety Equipment||85|-|
85|122|
|Other Miscellaneous Equipment||-|-|
-|1,000|
|Hoist Checks & Maintenace||814|-|
814|271|
|Repairs by Professionals||-|-|
-|82|
|Materials etc for local repair||52|-|
52|-|
|Maintenance Contracts||210|-|
210|-|
|Helper UK Travel Expenses||616|-|
616|70|
|Other Sailing Expenses||60|-|
60|40|
|Trophies & Prizes||153|-|
153|43|
|Sailor Bursaries / Sponsorship||1,000|-|1,000|-|
|FPSC Training Courses||-|-|
-|525|
|Non FPSC Sailing Courses||-|-|
-|848|
|Safety Training||245|-|
245|-|
|Hosting Sailing Events||511|-|
511|-|
|Other Social Events||-|-|
-|112|
|Working Party Lunches||-|-|
-|84|
|Helper Teas & Coffees||100|-|
100|-|
|Branded Clothing for Resale||1,597|-|1,597|340|
|Youth Programme Miscellaneous||-|25|25|-|
|Other Sundries||-|-|
-|743|
||**Total**|**16,491**|**25**|**16,516**|**13,996**|
|**S11 Other**||||||
|Audit/accounting fees||576|-|
576|528|
|Other professional fees||3,000|-|3,000|-|
|Bank Charges||90|-|
90|60|
|Depreciation Land & Buildings||4,008|-|4,008|3,843|
|Depreciation Fixtures &|Fits.|1,540|-|1,540|2,391|
|Depreciation Boats||19,000|-|19,000|15,801|
|Gain/loss investments||-|-|
-|-|
||**Total**|**28,214**|**-**|**28,214**|**22,623**|
||**Total Expenses**|**45,025**|**25**|**45,050**|**36,796**|
14
## **Frensham Pond Sailability Notes to the Financial Statements For the Year ended 31 October 2021**
## **5. GRANTMAKING**
There were four bursaries made during the year to those sailors who participated to the Hansa Worlds in Palermo, Italy.
## **6. TANGIBLE FIXED ASSETS**
|**Cost**
Opening Balance 1 November 2020
2020/21 Additions
2020/21 Revaluations
2020/21 Disposals
2020/21 Depreciation
2020/21 Transfers between Categories
Closing Balance 31 October 2021
**Accumulated depreciation**
Opening Balance 1 November 2020
2020/21 Revaluations
2020/21 Disposals
2020/21 Depreciation
2020/21 Transfers between Categories
Closing Balance 31 October 2021
**Net Book Value**
Opening Balance 1 November 2020
Closing Balance 31 October 2021|**Land &**
**Building**
**Boats &**
**Boat**
**Equip**
**Fixtures &**
**Fittings**
**Total**
**£**
**£**
**£**
**£**
59,103
185,727 21,958
266,788
-
4,100
-
4,100
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|
||59,103
189,82721,958
270,888|
||32,332
141,831 18,287
192,450
-
-
-
-
-
-
-
-
4,008
19,000 1,540
24,548
-
-
-
-|
||36,340
160,831 19,827
216,998|
||26,771
43,896 3,671
74,338|
||22,763
28,996 2,131
53,890|
## **7. STOCKS**
No transactions reported for the period 1/11/2020 � 31/10/2021
## **8. DEBTORS & PREPAYMENTS**
|Analysis of Debtors
Trade debtors
Prepayments & accrued income
Other debtors
**Total**|**This Year**
**£**
**Last Year**
**£**
-
-
444
440
-
-|
|---|---|
||**444**
**440**|
As a result of Coronavirus, some members joined later in the season. As a result they were billed at the end of the season and paid the membership fees past after 31/10/2021.
15
## **Frensham Pond Sailability Notes to the Financial Statements For the Year ended 31 October 2021**
## **9. CREDITORS & ACCRUALS**
|Analysis of Creditors
Trade creditors
Accruals and deferred income
Other creditors
**Total**|Amounts falling due within
one year
Amounts falling due after
more than one year
This Year
£
Last Year
£
This Year
£
Last Year
£
-
-
-
-
710
1,505
-
-
-
-
-
-|
|---|---|
||**710**
**1,505**
**-**
**-**|
A number of branded clothing purchased by the members in early Autumn were billed and paid after fiscal year end.
## **10. CHARITY FUNDS**
|**Purpose of**
**Fund**
**Type**
1. Purchase of
boats
Restricted
2. Youth Sailor
programme
Restricted
3. Facilities
Improvements
Unrestricted
Designated
4. General
Unrestricted
Totals|**Balance**
**b/forward**
**£**
**Income**
**£**
**Expend.**
**£**
**Transfers**
**£**
**Gains &**
**Losses**
**£**
**Bal. at**
**31/10/20**
**£**
-
-
-
-
-
-
1,262
-
-25
-
-
1,237
40,000
-
-
-
-
40,000
111,467
27,148
-45,026
-
-
93,589|
|---|---|
||152,729
27,148
-45,051
-
-
134,826|
The unrestricted designated fund was created last year to identify funds allocated to the development of Sailability facilities in conjunction with Frensham Pond Sailing Club. The Fund remained unchanged at £40,000.
There were no new Restricted Funds received during the year. Where restricted funds have previously been used to purchase capitalised items, only the depreciation charge is charged to the Statement of Financial Activities, although the remaining balance of those assets has already been spent. The remaining Restricted Funds are held in the assets as shown in the next note. Unexpended and uncommitted restricted funds amount to £1,237.
## **11. ANALYSIS OF NET ASSETS/(LIABILITIES) BETWEEN FUNDS**
|Tangible Fixed Assets
Cash at Bank and in Hand
Other current assets
Current Liabilities
**Totals**|**Unrestricted Funds**
**£**
**Restricted Funds**
**£**
**Total**
**£**
53,890
-
53,890
81,202
1,237
81,202
444
-
444
-710
-
-710|
|---|---|
||**134,826**
**1,237**
**136,063**|
16
## **Frensham Pond Sailability Notes to the Financial Statements For the Year ended 31 October 2021**
## **12. TRANSACTIONS WITH TRUSTEES & RELATED PARTIES**
Throughout the period the company was controlled by the trustees. The trustees serve on a voluntary basis and receive no remuneration. There were no paid employees. During the period two payments totalling £18 were reimbursed to one trustee for purchases made on behalf of the charity; £155 were paid by trustees as membership fees; a bursary of £250 was awarded to Paul Philips during the year, however after his resignations as trustee.
The Charity has indemnity insurance in place to protect the Charity from loss resulting from defaults of its trustees, volunteers, agents, and to indemnify the trustees or other officers against the consequences of any neglect or default on their part through the cover provided for the same aspects by Frensham Pond Sailing Club, its sole shareholder.
During the period the Charity paid membership subscriptions to its Sole Shareholder, Frensham Pond Sailing Club, for use of its facilities of £7,710 and £1,932 for insurance. There were further ad hoc payments to the Sailing Club for a total of £874.
17