``` REGISTERED COMPANY NUMBER: 08104554 (England and Wales) REGISTERED CHARITY NUMBER: 1148201 ``` ## **`REPORT OF THE TRUSTEES AND`** ``` UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 ``` ``` FOR ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ``` CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 January 2024 ``` ||**`Page`**| |---|---| |**`Report of the Trustees`**|`1 to 2`| |**`Independent Examiner's Report`**|`3`| |**`Statement of Financial Activities`**|`4`| |**`Statement of Financial Position`**|`5 to 6`| |**`Notes to the Financial Statements`**|`7 to 11`| |**`Detailed Statement of Financial Activities`**|`12`| ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`REPORT OF THE TRUSTEES`** ## **`for the Year Ended 31 January 2024`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report withthefinancialstatementsofthecharityfortheyearended31January2024.Thetrusteeshaveadopted the provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives of the charity`** ``` The charityis establishedfor the relief of disabledand/orelderlypeopleby the provisionof facilitiesfor recreation; in particulartheprovisionofboattripsbydayontheSuffolkandNorfolkBroadswiththeobjectofimproving the condition of life of such persons. ``` ## **`ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO ITS OBJECTS`** ``` FollowingrepercussionsfromimpactofCovid-19,WaveneyStardustTrustLimitedoperationswereagain severely depletedforthe2023season.ThecharityfortunatelycontinuedtooperateanumberofcruisesaboardWSII from Beccles,OultonBroadandBrundall.EvenwithtripsavailableforpassengerstobookuptoDecember2023, the number of bookings were again severely reduced.In 2023 season WSll had 58 trips and carried 564 passengers. ``` ``` Operationalstaffforthecruiserconsistedofskippersandcrewmembers,supportedbytheBookingsOfficer, Shore SupportOfficer,ITOfficerandInformationSupportOfficer.Unfortunately,crewvolunteersregisteredfor active crewingforthecharityduringtheseasonwereagainseverelyreduced.Skippersandcrewcontinueto undergo appropriatetraining and examinationsto qualify them to carry out their roles . Active recruitmentfor new volunteers is ongoingandin20239newvolunteerswererecruitedwithfourplacedontrainingplacements.Safetyofall persons aboardisthehighestpriority,thecruiserandallaspectsassociatedwiththecruises,thehydraulicplatformlift and rampsaremaintainedandcertifiedtooperatewithinthelegalrequirements.Allsafetyitemshavebeen checked tested,passedandcertificatedbyhealthandsafetyengineerstocomplywiththeBroadsAuthority'sPassenger Boat licence. The high maintenance programme on the operational cruiser is continual. ``` ``` Tosummarise,onecruiserhasbeenoperationalforthe2023,seasoncruisesinBeccles,OultonBroadand Brundall, Unfortunately, again, the charity was unable to operate two cruisers during the season. ``` ## **`FINANCIAL REVIEW`** ## **`Financial position`** ``` Retainedreservesattheyearendamountedto£238,201.Thisincludedthewrittendownvaluesofthe Waveney StardustCruisers.Expenditureexceededincomefortheyearby£11,827.Detailedinformationcanbefoundin the attached accounts. ``` ## **`Reserves policy`** ``` TheTrustholdsaseparatebaseraterewardaccountwithBarclaysBank,whichholdsfundsattheyearend of £45,846.75 specifically for emergency use. ``` ## **`FUTURE PLANS`** ``` The charityis lookingforward to the future and proactivelylookingfor new volunteers,members, applyingfor funding and seekingdonationsto sustainits operation.The charityis encouragingresidentialcare homes,community groups, families and friends to book trips again in 2024 season. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecompanyisestablishedunderitsmemorandumandarticlesofassociationdated13June2012andislimited by guarantee. ``` ## **`Recruitment and appointment of new trustees`** ``` New trustees are recruited and appointed by existing trustees. ``` ``` Page 1 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`REPORT OF THE TRUSTEES`** ## **`for the Year Ended 31 January 2024`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Organisational structure`** ``` WaveneyStardustTrustLimitedis a companylimitedbyguaranteeandis governedbyitsmemorandum& articles of association.Eachmemberis liablefor a sum notexceeding£10in theeventof thecompanybeingwoundup should there not be enough funds to cover expenses. ``` ``` The company is registered with the Charity Commission. ``` ``` The directors/trustees are directors within the meaning of the Companies Act 2006. The directors are listed below. The directors meet regularly to oversee the management of the charity and its finances. ``` ``` The directors are supported by the following roles:- ``` ``` Bookings Information IT/Website ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`** ``` 08104554 (England and Wales) ``` ## **`Registered Charity number`** ``` 1148201 ``` ## **`Registered office`** ``` Georgian House 34 Thoroughfare Halesworth Suffolk IP19 8AP ``` ## **`Trustees`** ``` R A Cowie Company Director/Technical Ms G A Lovegrove Company Director/Chairman N A Foreman Company Financial Director/Treasurer D A Stone Company Director/Operations & Training ``` ## **`Independent Examiner`** ``` Pieter Nicholas van Dijk FMAAT van Dijk Accountants Limited Georgian House 34 Thoroughfare Halesworth Suffolk IP19 8AP ``` ``` This report has been preparedin accordancewith the specialprovisionsof Part 15 of the CompaniesAct 2006 relating to small companies. ``` ``` Approved by order of the board of trustees on 4 October 2024 and signed on its behalf by: ``` ``` Ms G A Lovegrove - Trustee ``` ``` Page 2 ``` ``` INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WAVENEY STARDUST TRUST LIMITED ``` ## **`Independent examiner's report to the trustees of Waveney Stardust Trust Limited ('the Company')`** ``` I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2024. ``` ## **`Responsibilities and basis of report`** ``` As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). ``` ``` Having satisfied myself that the accountsof the Company are not required to be audited under Part 16 of the 2006 Act andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examinationI have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the examination giving me cause to believe: ``` `1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or` `2. the accounts do not accord with those records; or` `3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or` `4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ``` Pieter Nicholas van Dijk FMAAT ``` ``` van Dijk Accountants Limited Georgian House 34 Thoroughfare Halesworth Suffolk IP19 8AP ``` ``` 4 October 2024 ``` ``` Page 3 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES`** ## **`for the Year Ended 31 January 2024`** |`31.1.24`
`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`23,417`
`Other trading activities`
`2`
`12,477`
`Investment income`
`3`
`263`
**`Total`**
`36,157`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Raising funds and operating costs`
`47,984`
**`NET INCOME/(EXPENDITURE)`**
`(11,827)`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`250,028`
**`TOTAL FUNDS CARRIED FORWARD`**
`238,201`|`31.1.23`
`Total`
`funds`
`£`
`9,023`
`10,069`
`8`
`19,100`
`41,560`
`(22,460)`
`272,488`
`250,028`| |---|---| ``` The notes form part of these financial statements ``` ``` Page 4 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`STATEMENT OF FINANCIAL POSITION`** ## **`31 January 2024`** |`31.1.24`
`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`6`
`170,656`
**`CURRENT ASSETS`**
`Stocks`
`7`
`-`
`Debtors`
`8`
`2,771`
`Cash at bank and in hand`
`66,448`
`69,219`
**`CREDITORS`**
`Amounts falling due within one year`
`9`
`(1,674)`
**`NET CURRENT ASSETS`**
`67,545`
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
`238,201`
**`NET ASSETS`**
`238,201`
**`FUNDS`**
`10`
`Unrestricted funds`
`238,201`
**`TOTAL FUNDS`**
`238,201`|`31.1.23`
`Total`
`funds`
`£`
`189,769`
`200`
`6,737`
`54,167`
`61,104`
`(845)`
`60,259`
`250,028`
`250,028`
`250,028`
`250,028`| |---|---| ``` The charitablecompanyis entitledto exemptionfrom audit under Section 477 of the CompaniesAct 2006 for the year ended 31 January 2024. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006. ``` ``` The trustees acknowledge their responsibilities for ``` - `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and` - `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.` ``` The notes form part of these financial statements ``` ``` continued... ``` ``` Page 5 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`STATEMENT OF FINANCIAL POSITION - continued`** ## **`31 January 2024`** ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies subject to the small companies regime. ``` ``` The financialstatements were approved by the Board of Trustees and authorisedfor issue on 4 October 2024 and were signed on its behalf by: ``` ``` G A Lovegrove - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 January 2024`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been prepared in accordancewith the Charities SORP (FRS 102) 'Accountingand Reportingby Charities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` All income is recognised in the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis andhasbeenclassifiedunderheadingsthataggregateallcostrelatedto thecategory.Wherecostscannot be directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the use of resources. ``` ## **`Tangible fixed assets`** ``` Depreciationis provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. ``` ``` Plant and machinery etc- 20% on reducing balance Stardust boat I & II - 10% on reducing balance ``` ## **`Stocks`** ``` Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and slow moving items. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ``` ``` continued... ``` ``` Page 7 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`for the Year Ended 31 January 2024`** ## **`2. OTHER TRADING ACTIVITIES`** |**`2.`**|**`OTHER TRADING ACTIVITIES`**||| |---|---|---|---| |||`31.1.24`|`31.1.23`| |||`£`|`£`| ||`Boat hire fees`|`12,375`|`9,840`| ||`Membership fees`|`102`|`229`| |||`12,477`|`10,069`| |**`3.`**|**`INVESTMENT INCOME`**||| |||`31.1.24`|`31.1.23`| |||`£`|`£`| ||`Deposit account interest`|`263`|`8`| |**`4.`**|**`NET INCOME/(EXPENDITURE)`**||| ||`Net income/(expenditure) is stated after charging/(crediting):`||| |||`31.1.24`|`31.1.23`| |||`£`|`£`| ||`Depreciation - owned assets`|`19,113`|`21,275`| ## **`5. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31January2024norforthe year ended 31 January 2023. ``` ## **`Trustees' expenses`** ``` Within expenses £2,445 was paid to the trustees for various costs including travel £606. ``` ## **`6. TANGIBLE FIXED ASSETS`** |**`COST`**
`At 1 February 2023 and 31 January 2024`
**`DEPRECIATION`**
`At 1 February 2023`
`Charge for year`
`At 31 January 2024`
**`NET BOOK VALUE`**
`At 31 January 2024`
`At 31 January 2023`|`Waveney`
`Stardust`
`I`
`£`
`122,861`
`58,570`
`6,429`
`64,999`
`57,862`
`64,291`|`Waveney`
`Stardust`
`II`
`£`
`241,737`
`117,625`
`12,411`
`130,036`
`111,701`
`124,112`|`Equipment`
`£`
`12,210`
`10,844`
`273`
`11,117`
`1,093`
`1,366`|`Totals`
`£`
`376,808`| |---|---|---|---|---| |||||`187,039`
`19,113`| |||||`206,152`| |||||`170,656`| |||||`189,769`| ``` continued... ``` ``` Page 8 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`for the Year Ended 31 January 2024`** |**`7.`**
**`STOCKS`**
`Stocks`
**`8.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other debtors`
`VAT`
`Prepayments`
**`9.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Other creditors`
**`10.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.2.23`
`£`
`250,028`
`250,028`
`Incoming`
`resources`
`£`
`36,157`
`36,157`|`31.1.24`
`31.1.23`
`£`
`£`
`-`
`200`
`31.1.24`
`31.1.23`
`£`
`£`
`150`
`421`
`55`
`3,955`
`2,566`
`2,361`
`2,771`
`6,737`
`31.1.24`
`31.1.23`
`£`
`£`
`1,337`
`731`
`337`
`114`
`1,674`
`845`
`Net`
`movement`
`At`
`in funds`
`31.1.24`
`£`
`£`
`(11,827)`
`238,201`
`(11,827)`
`238,201`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(47,984)`
`(11,827)`
`(47,984)`
`(11,827)`| |---|---|---| ``` continued... ``` ``` Page 9 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ## **`for the Year Ended 31 January 2024`** ## **`10. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |`At 1.2.22`
`£`
**`Unrestricted funds`**
`General fund`
`272,488`
**`TOTAL FUNDS`**
`272,488`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
`19,100`
**`TOTAL FUNDS`**
`19,100`|`Net`
`movement`
`At`
`in funds`
`31.1.23`
`£`
`£`
`(22,460)`
`250,028`
`(22,460)`
`250,028`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(41,560)`
`(22,460)`
`(41,560)`
`(22,460)`| |---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.2.22`
`£`
`272,488`
`272,488`|`Net`
`movement`
`in funds`
`£`
`(34,287)`
`(34,287)`|`At`
`31.1.24`
`£`
`238,201`| |---|---|---|---| ||||`238,201`| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` ||`Incoming`|`Resources`|`Movement`| |---|---|---|---| ||`resources`|`expended`|`in funds`| ||`£`|`£`|`£`| |**`Unrestricted funds`**|||| |`General fund`|`55,257`|`(89,544)`|`(34,287)`| |**`TOTAL FUNDS`**|`55,257`|`(89,544)`|`(34,287)`| ``` continued... ``` ``` Page 10 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued`** ``` for the Year Ended 31 January 2024 ``` ## **`11. RELATED PARTY DISCLOSURES`** ``` There were no relatedpartytransactionsfor the yearended31stJanuary2024otherthanexpensesset out in note 5. ``` ``` Page 11 ``` ``` WAVENEY STARDUST TRUST LIMITED ``` |**`DETAILED STATEMENT OF FINANCIAL ACTIVITIES`**||| |---|---|---| |**`for the Year Ended 31 January 2024`**||| ||`31.1.24`|`31.1.23`| ||`£`|`£`| |**`INCOME AND ENDOWMENTS`**||| |**`Donations and legacies`**||| |`Donations and fund raising`|`23,417`|`9,023`| |**`Other trading activities`**||| |`Boat hire fees`|`12,375`|`9,840`| |`Membership fees`|`102`|`229`| ||`12,477`|`10,069`| |**`Investment income`**||| |`Deposit account interest`|`263`|`8`| |**`Total incoming resources`**|`36,157`|`19,100`| |**`EXPENDITURE`**||| |**`Charitable activities`**||| |`Insurance, tolls & licenses`|`3,958`|`3,541`| |`Electric`|`201`|`73`| |`Telephone and mobile`|`793`|`806`| |`Printing,postage,stationery and advertising`|`203`|`306`| |`Sundries`|`362`|`192`| |`Rent and mooring fees`|`2,511`|`2,302`| |`Training and testing of machines`|`192`|`260`| |`Galley`|`247`|`331`| |`Travel expenses`|`768`|`750`| |`Boat fuel and pumpouts`|`1,430`|`1,756`| |`Fundraising fees`|`5,520`|`720`| |`Repairs and renewals`|`10,189`|`7,035`| |`Website and software rental`|`1,247`|`1,195`| |`Bank charges`|`179`|`218`| |`Accountancy`|`600`|`600`| |`Goods for resale`|`200`|`200`| |`Depreciation Plant and equipment`|`19,113`|`21,275`| |`Gift aid recovery`|`271`|`-`| ||`47,984`|`41,560`| |`Total resources expended`|`47,984`|`41,560`| |**`Net expenditure`**|`(11,827)`|`(22,460)`| ``` This page does not form part of the statutory financial statements ``` ``` Page 12 ```