2021-03-31-accounts - Medway Watersports Trust Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Medway Watersports Trust Ltd Trustees Annual Report Year Ended 31[st] March 2021

Structure, governance and management

The charity is controlled by its governing document, a deed of trust and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Trustees who have served since 1[st] April 2020 Mark Falkingham – Chair David Moorman – Vice Chair Lesley Snowdon – Treasurer Geoff Waters – Operations Robert Walker – Senior RYA Instructor

The method of appointment of Trustees is set out in the Trust’s Articles of Association.

Trustees meet on six occasions throughout the year. Also, throughout the season, an operations group meet regularly attended invariably by one or more Trustee representatives. The year has been considered as another stepping stone in the objectives to coordinate a centre of excellence for all those making use of the programme. We now have a five year lease in place expiring 2023 and are due to start renewal negotiations in 2021/22.

Objectives and activities

Medway Watersports Trust’s objectives are to provide opportunities for the youth and young adults of Medway, especially but not exclusively, the disadvantaged. The Trust also offers Watersport activities to the wider population and encourages the people of Medway to take full advantage of the River Medway and other facilities on their doorstep. The Trust raises income by offering tuition and training as a Royal Yachting Association and a British Canoeing Training Centre along with grants and donations.

Achievements and performance

Unfortunately due to the Coronavirus Pandemic we were unable to open the Centre for activities until late on in the Summer of 2020 for just a few weeks. Running under Covid safety regulations meant that during the short time we were allowed to open we were restricted to only six adults per session and no child sessions. This obviously had a dire affect on our day to day income generation.

Funding application successes: - Despite the Pandemic 2020/21 was a very good year for us from a grant raising point of view and it is acknowledged that without these we would have had a very difficult year financially.

Kent Community Foundation £2,500 Medway Council Covid Grant £10,000 Kent Community Fund £2,037 Foyle Foundation £4,000 Cole Charitable Trust £500 Tesco Bags for Life £1,000

Financial review

The charitable company has a reserve fund which has been set aside as a contingency fund.

Plans for future periods

The Historic Dockyard, Chatham have agreed the use of their Mast Pond for additional activities by Medway Watersports. The site continues to be developed and refurbished by a team of dedicated and experienced volunteers.

	Charity Name	Charity Name	Charity Name	Charity No (if any)	1146485	CC17a
	Annualaccountsforthe period
	Period start date	01/04/2020	To	Period end date	31/03/2021

Section A	Statement of financial activities
Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) Incoming resources from generated funds Voluntary income S01 Activities for generating funds S02 Investment income S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 *Total funds carried forward* Total funds brought forward *Net movement in funds* *Net incoming/(outgoing) resources before* *transfers* Gains and losses on investment assets Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) *Net incoming/(outgoing) resources before* *other recognised gains/(losses)* Gross transfers between funds *Total resources expended* *Total incoming resources*		Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
		-	-	-	-
		1,907	20,037	-	21,944	15,143
		-	-	-	-	-
		4	-	-	4	15
		7,440	-	-	7,440	13,734
		5,245	-	-	5,245	-
		14,596	20,037	-	34,633	28,892

		-	-	-	-	-
		11,923	955	-	12,878	11,807
		-	-	-	-	-
		-	-	-	-	-
		835	1,898	-	2,733	7,901
		-	-	-	-	-
		5,571	-	-	5,571	2,440
		18,329	2,853	-	21,182	22,148
		3,733 -	17,184	-	13,451	6,744
		-	-	-	-	-
		3,733 -	17,184	-	13,451	6,744

		-	-	-	-	-
		-	-	-	-	-
		3,733 -	17,184	-	13,451	6,744
		28,892	16,662	-	45,554	38,810
		25,159	33,846	-	59,005	45,554

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Section B Balance sheet

Unrestricted funds £ F01	Restricted income funds £ F02	Endowment funds £ F03	Total this year Total last year £ £ F04 F05	Total this year Total last year £ £ F04 F05
30,007	-	-	30,007	32,754
-	-	-	-	-
-	-	-	-	-
30,007	-	-	30,007	32,754

-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
30,604	-	-	30,604	14,798
30,604	-	-	30,604	14,798

-	-	-	-	-

30,604	-	-	30,604	14,798

60,611	-	-	60,611	47,552

-	-	-	-	-
18,000	-	-	18,000	1,998

42,611	-	-	42,611	45,554

25,159			25,159	28,892
-			-	-
	17,452		17,452	16,662
		-	-	-

25,159	17,452	-	42,611	45,554

Signature		Date of approval Print Name
		Mark Falkingham
		L Snowdon

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Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with* ✓ Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

and with the Charities Act.

[** except for the following].

Give details in this box if a different standard has been followed.

-Tick as appropriate:
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;
if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick
“Financial Reporting Standards for Smaller Enterprises (FRSSE)”.

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

Give details in this box of any material changes that have been made.

§ if no changes have been made to accounting policies then delete these words.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years (§§ except for the following).

Give details in this box of any material changes that have been made.

§§ if no changes have been made to accounts for previous periods then delete these words.

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Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	• the charity becomes entitled to the resources;
	• the trustees are virtually certain they will receive the resources; and
	• the monetary value can be measured with sufficient reliability.
Incoming resources with	Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure	the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional
	entitlement to the resources.
Tax reclaims on donations	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts	which they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
	distributed by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when
	receivable.
Donated services and	These are only included in incoming resources (with an equivalent amount in resources
facilities	expended) where the benefit to the charity is reasonably quantifiable, measurable and material_._
	The value placed on these resources is the estimated value to the charity of the service or
	facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from
	revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the
	charity to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee
	meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service
conditions	or output to be provided, such grants are only recognised in the SoFA once the recipient of the
	grant has provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are
performance conditions	no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a
	basis consistent with the use of resources, eg allocating property costs by floor areas, or per
	capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use	These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity	are valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year
	end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM THOSE
ABOVE

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Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
	21,944	15,143
	-	-
	-	-
	-	-
	-	-
Total	21,944	15,143

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

	4	15
	-	-
	-	-
	-	-
	-	-
Total	4	15

	12,481	13,734
	204	-
	-	-
	-	-
	-	-
Total	12,685	13,734

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Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
Depreciation	5,291	5,776
Purchases/L&H/Repairs	6,363	3,404
Insurance	2,456	2,440
Other	558	2,077
		-
Total	14,668	13,697

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

	-	-
	-	-
	-	-
Total	-	-

Contractorcosts	3,115	9,646
Motor vehicles	2,389	1,202
Otheroffice	344	1,333
Oplease	-	- 4,280

Total	5,848	7,901

	666	550
	-	-
	-	-
Total	666	550

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Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

*support costs.*
Support cost type	Fundraising activity £	Charitable Activity £	Governance Activity £	Total Cost £
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
Total	-	-	-	-

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses Nature of the expenses Total amount paid

This year	Last year


£	£

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

*appropriate box(es).*
Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts	This year £	Last year £
	650	550

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Section C Notes to the accounts (cont)

Note 7 Paid employees Please complete this note if the charity has any employees.

7.1 Staff Costs

Fundraising Charitable Activities Governance Other Total 7.2 Average number of full-time equivalent employees in the year Employer’s National Insurance costs Pension costs Total staff costs Gross wages, salaries and benefits in kind The parts of the charity in which the employees work	This year £	Last year £
	-	-
	-	-
	-	-
	-	-

nt employees in the year	This year Number	Last year Number
Fundraising	-	-
Charitable Activities	-	-
Governance	-	-
Other	-	-
Total	-	-

7.3 Defined contribution pension scheme Please complete if a defined contribution pension scheme is operated. Brief details of the scheme

The costs of the scheme to the charity for the year The amount of any contributions outstanding at the year end The amount of any contributions prepaid at the year end

----- Start of picture text -----
This year Last year
£ £
----- End of picture text -----

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Section C Notes to the accounts (cont)

Note 8 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

8.1 Total value of grants

8.1 Total value of grants
Purpose for whichgrants made	Grants to institutions Total amount £	Grants to individuals Total amount £
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-
*Total*	-	-

8.1 Grantmaking costs

If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.

Support costs of grantmaking

8.3 Grants made to institutions

If the charity has made grants to particular institutions that are material in the context of its grantmaking please give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient information should be given to provide a reasonable understanding of the range of institutions supported.

*institutions supported.*
Names of institutions	Purpose	Total amount of grantspaid £
		-
		-
		-
		-
		-
		-
		-
		-
		-
		-
*Total grants to institutions*		-

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Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets

Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

Freehold land & buildings £	Other land & buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Payments on account and assets under construction £	Total £
	-	42,905	-	-	42,905
-	-	2,544	-	-	2,544
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	45,449	-	-	45,449
-	-	10,151	-	-	10,151
-	-	5,291	-	-	5,291
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	15,442	-	-	15,442

-	-	32,754	-	-	32,754
-	-	30,007	-	-	30,007

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

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Section C Notes to the accounts (cont)

Note 10 Investment assets

Please complete this note if the charity has any investment assets.

10.1 Fixed assets investments

Add/(deduct):net gain/(loss) on revaluation Carrying (market) value at beginning of year Carrying (market) value at end of year Add:additions to investments at cost Less:disposals at carrying value	£
	-
	-
	-
	-
	-

Please provide below:

10.2 A breakdown of the market values of investments shown above agreeing with the balance sheet row B03.

10.3 A breakdown of the income from investments agreeing with SOFA row S03.

Investments in subsidiary or connected undertakings and companies Analysis of investments Other investments Total Investment properties Securities not listed on a recognised Stock Exchange Cash held as part of the investment portfolio Investments listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes	10.2 Market value at year end £	10.3 Income from investments for the year £
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-
	-	-

10.4 Material investment holdings

If any single investment is material in terms of its value (for example represents more than 5 per cent of the value of the charity’s total investments) please provide details.

Investment held

Market Value

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Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
18,000	1,998	-	-
18,000	1,998	-	-

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

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Section C Notes to the accounts (cont)

Note 13 Endowment and restricted income funds

Please complete this section if the charity has any endowment or restricted income funds.

13.1 Funds held

Please give a brief description of any of the following type of funds held by the charity:

permanent endowment funds (PE);
expendable endowment funds (EE); and
restricted income funds, including special trusts, of the charity (R).

Fund Name Type PE, EE or R Purpose and Restrictions	Fund Name Type PE, EE or R Purpose and Restrictions	Fund Name Type PE, EE or R Purpose and Restrictions
Golding Homes	R	To provide paddlesport instruction
ACT	R	provide activities for those alone
Medway Council	R	Covid emergency fund
Foyle	R	Core costs
Kent Comm	R
Tesco	R	Bringing benefit to children and young people

13.2 Movements of major funds

Please give details of the movements of the major funds summarised in the restricted and endowment columns of the Statement of Financial Activities.

Fund names	Fund balances brought forward £	Incoming resources £	Outgoing resources £	Transfers £	Gains and losses £	Fund balances carried forward £
GoldingHomes	500	-	-	-	-	500
ACT	2,000	-	-	-	-	2,000
Medway Council		10,000	-	-	-	10,000
Foyle	-	4,000	- 2,237	-	-	1,763
Kent Comm	-	2,037	- 173	-	-	1,864
Tesco	-	1,000	-	-	-	1,000
Total Funds	2,500	17,037	- 2,410	-	-	17,127

13.3 Transfers between funds

Please give details of any transfers between funds.

From Fund (Name) To Fund (Name) Reason Amount

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Section C Notes to the accounts (cont)

Note 14 Transactions with related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in note 6) details of such transactions should be provided in this note. If there are no transactions to report, please enter “None” in the relevant boxes.

14.1 Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.

Name of trustee or connected party	Legal authority (eg order, governing document)	Amounts paid or benefit value	Amounts paid or benefit value
		This year £	Last year £

14.2 Loans

Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.

Due to trustees and related parties Due from trustees and related parties	Name of trustee or connected party	Legal authority	Amount owing	Amount owing
			This year £	Last year £

14.3 Other transaction(s) with trustees or related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a trustee or related party has a material interest.

Name of the trustee or relatedparty	Relationship to charity	Description of the transaction(s)	This year £	Last year £

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Section C Notes to the accounts (cont)

Note 15 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

CC17a (Excel)

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Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Medway Watersports Ltd	Medway Watersports Ltd	Medway Watersports Ltd

31 March 2021	Charity no (if any)	1146485

1,2

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2021 / MM / YYYY . Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Please delete the words in the brackets if they do not apply.

Signed: Kathleen Smith Date: 01/11/2021 Name: Kathleen Smith Relevant professional MAAT qualification(s) or body Member No: 10357734 (if any): Address: 45 Harrow Road

Oct 2018

IER

Hempstead

Kent ME7 3QA

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

Oct 2018

IER