Registered Company Number: 07621461 Registered Charity Number: 1142761 Frensham Pond Sailability Annual Report and Financial Statements for the Year Ended 31 October 2023 Frensham Pond SAI LABILITY
Frensham Pond Sailablllty Annual Report and Flnancial Statements for the Year ended 31 October 2023 Contents Page No. Report of the Trustees Report of th¢ Ind¢Ftndent Examiner Statement of Fin2neial Activities Balance Sheet 10 Notes to the Accounts
Frensham Pond Sailability Report of the Trustoes for the Year ended 31 October 2023 The Iruslees, who are directors of the Company for the purposes of company law, ar¢ pleased to present their report, together with t])e financial statements of the company for the period ended 3 1st Oetober 2023. R¢fereD¢e 4niJ administrative details Company No.. Charity Number.. 07621461 1142761 Registered Office: Frensham Pond Sailability c/0 Frensham Pond Sailing Club, Pond Lane, Churt Farnham, Surrey GU10 2QA Independent ExaTniner'. Stuart J Harris SEEB YS Consultan¢y Limited 2 North Fryerne, Yateley, Hampshire, GU46 7ST Bankers: Lloyds TSB Bank plc. 25 Gresham Street London EC2V 7HN CAF Bank Ltd 25 Kings Hill Avenu¢, King5 Hill Wcst Malling, K¢nt MEI 9 4JQ United Trust Limited One Ropemaker Street London EC2Y 9A W Lawyers: Moore Barlow LLP. The Oriel, Sydenham Road Guildford, Surrey GUI 3SR Directors and Trllst¢¢s The directors of the Charitable Company (the Charity) are its trustees for the purpose of Charity Law and throughout this report are collectively referred lo as the trnStees'. The Trustees Serving throughout the period {except as noted) and were as follows.. Mr R.A. Anstey (Appointed 18 April 2023) Mr l.D. Barrett (Appointed 18 April 2023) Mrs C.E. Cook Mr C.S. Crowth¢r Mr P.J. Knight5 Mr G.A. Ma¢hen Mr P.A. Mutton (Appointed on 18 March 2023) Mr P.J. Schroed¢r Mr5 A.L.J. Skirrow Ms M Pascoe (Resigned 18 April 2023)
Frensham Pond Sallabllity Report of the Trustees for the Year ended 31 October 2023 Strlleture, Governance And Management The Limited Company was Incoorated on 4 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 151 November 2022 to 31. October 2023. Governin Document The company is limited by Guarantee and is gtsvemed by its Memorandum and Articles of Assoeiation dated 2 Isl April 2011. It is a registered charity (No.1142761). The sole Full Member is Frensham Pond Sailing Club IFPSC) a5 repr¢scnted by FPSC'S General Committee ("GC"}. ointment tsf Trust¢e The appointment of Trustees is undertaken by th¢ sole Full Member. In addition, every year one third of th¢ trnstees must retire from office but are elibFible for reappointment. At the GC meeting of 18th April 2023, the GC approved the re-election of George A. Machen and the ¢l¢ction of Ivor D. BaTr¢tt and Philip A. Mutton as new trustees. Additionally, Megan Pascoe was replaced by Robert A. Anstey in his capacity as FPSC Commodore. The new appointments were accepted by the C()mpanies House and Charity Commission during May 2023. anisation Administration of the affairs of the Charity is cTied outby the Sailability Management Conimittee ("SMC'), which meets r¢gularly throughout the year and is attended by the majority of the Trustees and other invitees a5 requircd. Trusiees are always In ihe tnajoriry on the Conllnitt¢¢. In addition. the'l rllst¢¢s rnt as required and at least once a yeai. Risk Mana ement The Charity's management ¢ommittee has asse55ed the major risks to which the Charity is exposed, in particular those relat¢d to the operations and fit]ance5 of the Charity and 15 SatisfE¢d that the systems are in place to mitigate our exposure to the major risk5. Ob-e¢tives and Activities Frensham Pond Sailability C'FPS" or the 'Charity"l is a r¢gi5tered chariry whose objects are the provision and maintenance of sailing facilities and the promotion of sailing for recreatÈon 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 32 boats at Frensham Pond, from the premises of Frensliam Pond Sailing Club, which is the sole Full Member of Fiensham Pond Sailability. Prior to the establishment of the cotnpany and registered charity, Sailability wa5 established in S¢pt¢mb¢r 2001 as a division of Frensham Pond Sailing Club. The Charity's actLVities are facilitated entiff ly by volunteer helpers including a team of RYA qualified instrllctors who are available to a5SiSt with training and development of all levels of sailor. from novi¢¢ lo Paralympic racing standard.
Frensham Pond Sallability Report of the Trustees for the Year ended 31 October 2023 Achievements and Performance en¢ral Overview Frensham Pond Sailability managed a full sailing season in 2023. with attendae at record leve15 and w¢ll in line with pre-COVID levels. 2023 Season highlights are the following.. Pupils from the Undershaw. the Abbey and the Ridgeway schools participated in the summer term and Undershaw returned also for th¢ first half of the Autumn term. Addition&lly, Woodlarks Camp r¢tumcd to Sailability after a gap of four years. The Shooting Star Cliildren's Hospice had a session in the summer for the first time and Pathways Education attended taster sessions towards the end of the Sailor memberships were at record levels with a total of 136 members, 41 new and 95 returning. An overall total of 2098 sailing sessions was recorded (vs 1929 in 2022 and 2184 in 2019), with record number of race training sessions (376 vs 358 in 2019). During the year the Charity was supported by 98 active volunteers (v$ 80 in 2022}. The Charity ran a comprehensive traii)ing programme during the year, including Pre-season training, First Aid, Hoisting, Buddying and Disability Awareness. Praeti¢ally all volunteers havc up to date DBS certification. The Charity hosted sailing events at the Club and sailing suecesses were achieved both on site e.g. the Wislcy Foundation Youth Endeavour Cup. the Richard Smallwood tTophy, the l O hour race, the Frensham Hansa rr race- and away - e.g. the Hansa Worlds in Portimao, Portugal. thc Hansa Nationa15 in UK and th¢ Ha115a Natiojials sii Ili¥ N¥ihcrl&nd¥. Fren5haJn Pond Sailability retained the Ben Ainslie Trophy for th¢ most successful Hansa team for the 161h cons¢¢ulive year. A Sailing Bvenl Coordinator Wds recruited this year. Three remarkable awards, the FarnhaTn Sports Awards. the Sport Haslemere Disability Award 2023 and the Farnham Lions Endeavour Trophy, were awarded to FPS members. The fleet turnaround plans ¢onlinues this year with five boats added to the fleet, two Hansa 2.3w and three Hansa 303, Ihallks to our donors, generosity. and two old boats were sold. Financial Review Frensham Pond Sailability remains finan¢Éally secure. Our regular donors continued to support us for which we are grateful. and w¢ maintained costs under control notwithstanding the reopening of all activities and new initiatives such as three Scott Bader trip on the Solent in August 2023. We continue to invest in our assets and infrastructure and manage reserves for the new Activity C¢nlre buildingj wliich Ten5n5 subject to the Club's lea.%e reiiewHI. Poli¢ on Cash Reserves Our policy on R¢serves remains the same, with our aim for an equivalent of between one and one and a half year's expcnditure in a normal year to be held as Casli Reserves. Our Cash Reserv¢s amounted to £182,614 given by the exceptional nature of the bequest received in 2021 and the pending approval for the new Activity Centre from FPSC.
Frensham Pond Sailablllty Report of the Trustees for the Year ended 31 October 2023 Plans for the Future The priority areas identified for 2023124 atr as follows.. The main priority for 2024 will be to build onthe su¢¢esses of 2023 optimising schtsols, participation and potentially increase the numb¢r of group sessions and visits from l(Kal special schools, subject to volunteers availability. Priority will also be given to promote away events for sailors (Hansa rfs and Hansa European champitsnshipsl, and special day evcnts such as the RoRo- Scott Bader day trips on the SolenL Volunteer training will continue to be in focus, to ensure operational and safety skill levels are maintained. Focus on the new Fr¢nsham Pond Sailability Activity Centr¢ and related fundraising will resume once the Clllb's lease renewal and ov¢rall developrnent plans are finalised.
Frensham Pond Sailabllity Report of the Trustees for the Year ended 31 October 2023 Tru5tees' responsibilities in relation to the financial statements The charity trtee$ are responsible for preyaring a trustees. annual report and financial statements in accordance with applicable law and Unit¢d Kingdom Accounting Standards (United Kingdom Gcnerally Accepted Accounting Practice). Th¢ law applicable to Charities in England and Wales requires the charity trustees to prepare financial statements for each year which giv¢ a true and fair view of th¢ slate of affairs of th¢ ¢harity and of the incoming resources and application of resources, of the charity for that period. In preparing ihe financial slaleTnents, the trustees are required to.. select suitable accounting policies and then apply them eonsistently. observe the methods and principles in the applicable Charities SORP. make judgements and estimates tlial are reasonable and prudent- state wheth¢r appli¢able accounting standards have been followed. subject to any material departures that must be disclosed and explained in the finan¢ial statements. prepare the financial statem¢nls on the going concern basis unless it is inappropriate to presume that the charity will ¢ontinue in business. The trustees are responsible for k¢¢ping proper accounting records that disclose with reasonable accuracy at any time the finan¢ial position of the charity and to enable them lo ensure that the financial statements Comply with the Charities Act 2011, the applicable Charitie5 (Accounts and Reports) Regulations. and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable epS for th¢ prevention and detection of fraud and other irre8ulariti¢s. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's websit¢ in accordance with legislation in the Unil¢d Kingdom governing th¢ preparation and dissemination of financial statem¢nt5. Approved by the trustees on 7 July 2024 and signed on their behalf by..
Frensham Pond Sallablllty Report of the Independent Examiner to the Trustees For the Year ended 31 October 2023 I report on the accounts of the Charity for the period ended 31 October 2023 which are set out on pages 9t0 17. Respective responsibilities of trllstees and examiner The trustees (who arc also the directors of the company for the purposes of Company law) are responsible for the preparation of the aeeounts. The Charity'5 trustees consider that an audit is not required for this yegr under Section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility lo.. examine the a¢¢ounts under section 145 of the Charities Act. to follow the pro¢edures laid down in the general Directions given by the Charity Commission under sectÉon 145(5){b) of the Charities Act,. and to state wh¢ih¢r particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept 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 concerning any such matters. The pr(Kedures undertaken do not provide all the evidence that would required in an audit, and consequently no opinkon 15 given as to whcther the aceounts present a 'lrue and fair, view and the report is limited to those matters set out in the Statement below. Independent exatniner's statement In connection with my examination, no material matters have come to my attention which gives me cause lo believe that, in any material respect.. accounting records were not kept in a¢¢ordance with section 386 of the Cotnpanies Act 2006. or the accounts do not accord with such records; or the accounts do not comply with rel¢vanl accounting requirements under section 396 of the Companies Aet 2006 other than any requirement that the accounts give a 'tn* and fair, view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the Charities SORP (FRS102) I have no Conce and have come across no other matters in connection with the exaTnination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to i reached. Signed.. Dale.. /oG/L Stuart Harris Seebys Consultancy Ltd 2 Nortl) Fryeme Yateleyj Hampshire GU46 7
Frensham Pond Sallablllty statement of Flnanclal Activities for the Year ended 31 October 2023 UnrestrS¢ted Funds Restricted Income FuNd5 Totgl Funds Re5tAted Prlor Year Funds Notes Income from: Donations and legacies Charitable activiti¢s Other trading a¢tivilies Investment5 38,668 7,674 1,549 617 2,000 37,820 76,488 7,674 1,549 617 94,460 8,089 1,999 28 Other 2,000 2,100 Total 50,507 37,820 88J27 106,675 Expenditure OTh: Raisit)8 funds Charitabl¢ activities 816 816 l J47 19.393 14,102 25,478 14,262 226 25,704 18.839 Other 4,577 Totsl 40055 4003 45J58 34042 Net incomel{expenditure) before Investment gainsl{105ses) 9.952 33,017 42,969 71,833 Net 8ains/llosses) on investments 14et Intomel(¢xp¢ndkture) 9,952 33,017 42.969 71,833 Extraordinary items Transfers between funds 4,836 {4,8361 Net Movement in Funds 14.787 28,182 42,969 71.833 Recon¢lllatlon of Fumds Total funds brought forward Total funds cArried forward 191,542 206P29 206,658 249,627 43,298 The statement of financial activities in¢ludes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Frensham Pond Sailablllty Balance Sheet As of 31 October 2023 Unrestricted Funds Restrl¢ted Income Funds Total Funds RestAted Prior Year Funds Notes Fixed #55ets Intangible assets Tangible assets Investments 56,125 10.888 67,013 55,295 TntlllJLYedrtssets rr t g$$ets Sto¢k$ D¢blors Investments Cash at bank and in hand 56.125 10.888 67,013 55,295 322 8,238 150.204 32,410 182,614 142,803 To¢ul etsrrent assets 150,204 32,410 182,614 151,363 Credltor$: amounts falling due withtn on¢ year Nel current a&sets/(Ilabllltiu) 150204 32,410 182,614 151,363 rolrtl assets less currevlllabllllles 206,329 43298 249,627 206.658 Creditors- aiiiouiits fallijig du¢ after more than one y¢ar Total net assets or 119bllltles 206,329 43,298 249,627 206.658 Fund5 of the ChAri Restricted irtcome fund5 Unrcstricted funds 43,298 43,298 206,329 15,117 191,542 206,329 Total funds 206029 43.298 249,627 206,6.f 8 The company was entitled to ¢x¢mption from audit under $477 of the Companies Act 2006 relating to small companies. No members have required th¢ company to obtain an audit of its accounts for the year in question in accordance with section 476 of tlie Companies Act 2006. The dIreOrS acknowledge their responsibility for complying with the requireinent5 of the Companies Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable lo the small companies regime and in accordance with FRS102 SORP. SiErted by two tsustLYsld•reL*ots on tdmlf of the trus1¢£dIE¢iO1s Éni Nam¢ natr nf a ddlmnvyyyy 0710712024 .S.Ci&wfrf6 0710712024 10
Frensham Pond Sallability Notes to the Flnancial Statements For the Year ended 31 October 2023 The al¢L7Chedn¢foYmPYI ofihefinuncialslalemeKIs 11
Frensham Pond Sailability Notes to the Flnancial Statements For the Year ènded 31 October 2023 BASIS OF PREPARATION B85ts of aeeounting The a¢counts have been prepared under the historical ¢ost convention with items re¢ognised at cost or transaction value unless otherwise stated in the rel¢vant note5 to these ac¢ounts. The accounts have been pr¢p8red in accordance with the Statement of Recommended Practice 'Accounting and reporting by Charities" prepatin8 their accounts in accordte with the Finan¢ial Reporting Standard applicabl¢ in th¢ UK and Republi¢ of Ireland IFRS 1021 issued in July 2014 and with the Charities Act 2011. The charity constitutes a public benefit entity as defjned by FRS 102. ACCOUNTING POLICIES Income RtcogTLition of Income Income i5 included in th¢ Statement of Financial Activities ISOPA) when: The charity becomes entitled to the rour¢Cs. It is more likely than not that the trustees will receive the resources. The monetary value can be measured with sutTicient reliability Grants Grants are credited to iThcome in th¢ year itt which they are re¢¢ived. Volunteer5 And donat¢d service5 The value of services provided by volunt¢ers is not incorporated into these financial statements. D¢tails of the Colltribution made by volunte¢r5 can be fOrtd in the trustces, annual report. Where serviccs are provided to the charity as a donation that would normally b¢ purchased from suppliers. this contribution is included in the financial sl#tement5 2t an estimate based on the valu¢ of the Contribution to the charity, unless the Amounts are insignificant. Expenditure Recognitlon of Expenditure Liabilities are reco8ll15ed wher¢ it is more likely than not that there is a legal or Constructive obligation committing the charity to pay out resourc¢s and the an)oullt of the obligation can be measured with reasonable certainty. Resources ¢xpended are in¢luded in the Statement of Financial A¢tivities on an eru]5 basis inclusive of any VA T, whEch 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 ¢0 those activities. Governance cosis include ihose 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 aTe capitalised if they can be us¢d for more than one year and cost at leasi £500. They are valued at C05t or donated value. 12
Frensham Pond Sailablllty Notes to the Financlal Statements For the Year ended 31 October 2023 Depreelotlon Depreciation is provided at the following annual rates in order to write off each &85tt over its estimated useful life. Land and Buildings Boats & Boat Equipment Fixture5. Fittings and Offi¢¢ Equipment Over 10 years, stroight line basis. Over 6 years, straight line basis. Over 4 years. stTaight line basis. Stocks Stocks held for sale are valued at the lower of cost and net realisable value, after adding due allowanc¢ for ob501ete aiid slow moving item$. Our stock levels r¢nJain¢d at zeTO duTin8 the current financial y¢ar. 13
Frensham Pond Sallability Notes to the Financlal Statements For the Year endad 31 October 2023 3. INCOME Uthre5tricted Funds Restricted YeAr Total Funds Funds Restated Prior Y¢ar Furtds Sol Dottations and legAcles Donations re¢eived Charity Donations received Gift aid tax income Grants received Bequests and lega¢ies Qifts in kind 16,248 17,100 26.820 11.000 43,068 28,100 20,935 214 2.000 52.200 5J20 5,320 Total 38,668 37,820 76.488 94,460 S02 Ch4rltable aetivities Individual Membership Subs Group Membership Subs Income from Sailing Events Summer BBQ Tickets Sale of Misc Equipm¢nt Other Social Events income 5,130 1,191 5,130 4,614 696 410 1,576 144 1,209 1.209 793 Total 7.674 7,674 8,089 SOI + S02 Totil 46042 37820 84,162 102,549 S03 Other tradlng aetlvltie5 Fundraising Events income Clothit)g for Re-sale Stock Sales Stock Cost of Sales Other Trading A¢tivitie5 Proceeds from Other Sales ,010 514 1,010 514 230 1,701 68 25 25 Total lJ49 lJ49 1.999 S04 Investments Interest received 617 617 28 Total 617 617 18 S06 Other GainlLoss Sale of Fixed Assets 2.000 2.000 2.000 2,000 2,100 2,100 Total Total InCot 50,507 37,820 88J27 106,675 14
Frensham Pond Sallability Notes to the Financial Statements For the Year ended 31 October 2023 Unrestrlcted Funds Restricted Funds 4. EXPENDITURE Year Total Reststed Prior Funds Year Funds S08 Ralslng fund$ Fundraising Social Events Marketing Expenses Membership of organisation5 413 373 30 413 373 30 408 30 Total 816 816 lJ47 S09 Charitable aetivities FPSC Membership Insurance Contribution Boat Purchase associated ¢osts Boat Equipment Other Miscellaneous Equiprnent Hoist Checks & Maintenance Repairs by Professionals Materials ¢tc for local repair Maintenance Contra¢l$ Helper UK Trav¢1 Expenses Helper Ov¢rseas Trav¢1 Expense Other Sailing Expenses Trophi¢s & Prizes Sailor Bursaries / Sponsorship FPSC Training Courses Non FPSC Sailing Courses Safety TTaining Hosting Sailing Events Summer BBQ Other Social Events Working Party Lunches Miscellaneou5 Helper Expenses Helper & Coffees Branded Clothing for Resale Youth Programme Miscellaneous Membership Expenses Other Sundries 8,238 2,330 28 1,007 517 998 557 8,238 2,330 254 1,007 517 998 557 7,542 2,007 140 255 705 226 79 210 .431 354 1,603 2,000 639 204 1,500 354 1,603 2,000 639 204 1.500 95 98 100 442 1.030 248 442 1,030 248 450 297 2,017 427 920 258 420 936 110 50 979 248 979 248 828 1.024 677 828 1,024 677 29 29 Total 25,478 216 25.704 19J93 Sll Other AudiLlaccounting fees Other professional fees Bank Charge5 Depreciation Land & Buildings Depreciation Fixtures & Fits. Depreciation Boats 632 632 598 838 104 4,008 1,194 7,361 210 4.008 809 8.603 210 4,008 809 13,180 18,839 4,577 4.577 Totgl 14.262 14,103 Total Lxpenses 40.555 4.803 45,358 34,843 15
Frensham Pond Sailabillty Notes to the Financlal Ststements For the Year ended 31 October 2023 TANGIBLE FIXED ASSETS Lgnd & Building Boats & Boat Equip Fixtures & Flttlngs TotAI Cost Op¢lling Balance at 0111112022 Revaluation Adjustment Revised Opening Balan¢¢ 2022123 Additions 59,103 189,330 22.248 270,681 59,103 2,700 189,330 26,783 11,886 204.228 22.248 232 270,681 29,715 11,886 288.511 2021123 Disposals Closing Balance at 3 1 OCtor 2023 22,480 Aeeumulated depreciAti(bn Opening Balance at 0111112022 Revaluation Adjustment Revised Opening Balance 2022123 Disposa15 2022123 Depreciation 40.348 154,017 21,131 215.386 40,348 154.017 111.8861 13,180 21,131 215.386 (11.8861 17,997 4,008 809 221.498 Net Book Value Opening Balance l November 2022 Llosing klalance 31 Uctt>ber 2023 18,755 17.447 35,313 48,916 1,227 050 55.295 67,013 CHARITY FUNDS Purpose or Fund Type Bal8nee blforward Ineome Expend. TrAnsfers G91n$ & Lo$$es Bal. at 31110123 l. Purcha5¢ of boats 2. Youth Sailor programme 3.Facilities Unrestricted Improvements Designated Restricted 13.880 37,820 (4,8031 14,836) 42.062 RestTlCted 1,237 1,237 100,000 100,000 4.Gettera] Unrestricted 91.541 50,507 140,5551 4,836 106.329 Total Bslance 206,658 88J27 145J581 249.627 During the year the Charity received £37,820 destined to pur¢hase new boat5. Where restri¢ted futtds hav¢ be¢n used to purchase capitalised items, only the deprceiation charge is char8ed to the Stat¢m¢nt of Financial A¢livities, although the remaining balance of those assets has already been spent. 16
Frensham Pond Sallability Notes to the Financial Statements For the Year ended 31 October 2023 TRANSACTIONS WITH TRUSTEES & RELATED PARTIES Throughout the period the company wjs controlled by the tn]5tees. The trustees serve on a voluntary basis nd receive no retnuneration. There were no paid einployees. During the period 8 payments totaling £931.19 were reiTnbursed to three trustees for purchases made on behalf of the charity, and 12 payments for £830.00 were received by six Èrustees for tickets to charitable events, ¢lothing or deposits on behalf of ¢harity m¢mbers. The Charity has indemnity insurance in place to protect the Charity from loss resulting from defaults of its trustees, volllnteers, agents, ai)d to indemnify the trustees or other officers against the ¢on5¢quence5 of any negl¢¢t or default on their part tlirough the cov¢r provided for the same aspects by Fren5hatn Pond Sailing Club. its 501e Full Memb¢r. DuTSng the period the Charity paid m¢mbershsP subscriptions to its sole Full Member, Frensham Pond Sailing Club, for use of its facilities of£8,238 and £2,330 for insuran¢¢. There were fiirther ad hoc payments to thg Sailing Club for a totY41 of £3.026. primarily related to the use ofthr Glub'5 galley. 17