**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 2025**
**FOR**
**WAVENEY STARDUST TRUST LIMITED**
**WAVENEY STARDUST TRUST LIMITED**
**CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 January 2025**
||**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 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives of the charity**
The charity is established for the relief of disabled and/or elderly people by the provision of facilities for recreation; in particular the provision of boat trips by day on the Suffolk and Norfolk Broads with the object of improving the condition of life of such persons.
## **ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO ITS OBJECTS**
Following repercussions from impact of Covid-19, Waveney Stardust Trust Limited operations were again severely depleted for the 2024 season. The charity fortunately continued to operate a number of cruises aboard WSII from Beccles, Oulton Broad and Brundall. Even with trips available for passengers to book up to December 2024, the number of bookings were again severely reduced.
Operational staff for the cruiser consisted of skippers and crew members, supported by the Bookings Officer, Shore Support Officer, IT Officer and Information Support Officer. Unfortunately, crew volunteers registered for active crewing for the charity during the season were again severely reduced. Skippers and crew continue to undergo appropriate training and examinations to qualify them to carry out their roles . Active recruitment for new volunteers is ongoing. Safety of all persons aboard is the highest priority, the cruiser and all aspects associated with the cruises, the hydraulic platform lift and ramps are maintained and certified to operate within the legal requirements. All safety items have been checked tested, passed and certificated by health and safety engineers to comply with the Broads Authority's Passenger Boat licence. The high maintenance programme on the operational cruiser is continual.
To summarise, one cruiser has been operational for the 2024 season in Beccles, Oulton Broad and Brundall. Unfortunately, again, the charity was unable to operate two cruisers during the season.
## **FINANCIAL REVIEW**
## **Financial position**
Retained reserves at the year end amounted to £227,107. This included the written down values of the Waveney Stardust Cruisers. Expenditure exceeded income for the year by £11,094. Detailed information can be found in the attached accounts.
## **Reserves policy**
The Trust holds a separate Business Premium account with Barclays Bank, which holds funds at the year end of £51,592.74 specifically for emergency use.
## **FUTURE PLANS**
The charity is looking forward to the future and proactively looking for new volunteers, members, applying for funding and seeking donations to sustain its operation. The charity is encouraging residential care homes, community groups, families and friends to book trips again in 2025 season.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The company is established under its memorandum and articles of association dated 13 June 2012 and is limited 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 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure**
Waveney Stardust Trust Limited is a company limited by guarantee and is governed by its memorandum & articles of association. Each member is liable for a sum not exceeding £10 in the event of the company being wound up 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 prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 30[th] April 2025 and signed on its behalf by:
G A Lovegrove
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 2025.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are 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 accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with 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)).
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.
Pieter Nicholas van Dijk FMAAT
van Dijk Accountants Limited Georgian House 34 Thoroughfare Halesworth Suffolk IP19 8AP
30[th] April 2025
Page 3
## **WAVENEY STARDUST TRUST LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 January 2025**
|31.1.25
Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
21,495
Other trading activities
2
13,600
Investment income
3
746
**Total**
35,841
**EXPENDITURE ON**
**Charitable activities**
Raising funds and operating costs
46,935
**NET INCOME/(EXPENDITURE)**
(11,094)
**RECONCILIATION OF FUNDS**
Total funds brought forward
238,201
**TOTAL FUNDS CARRIED FORWARD**
227,107|31.1.24
Total
funds
£
23,417
12,477
263
36,157
47,984
(11,827)
250,028
238,201|
|---|---|
The notes form part of these financial statements
Page 4
## **WAVENEY STARDUST TRUST LIMITED**
## **STATEMENT OF FINANCIAL POSITION**
## **31 January 2025**
|31.1.25
Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
6
153,481
**CURRENT ASSETS**
Debtors
7
2,713
Cash at bank and in hand
72,968
75,681
**CREDITORS**
Amounts falling due within one year
8
(2,055)
**NET CURRENT ASSETS**
73,626
**TOTAL ASSETS LESS CURRENT LIABILITIES**
227,107
**NET ASSETS**
227,107
**FUNDS**
9
Unrestricted funds
227,107
**TOTAL FUNDS**
227,107|31.1.24
Total
funds
£
170,656
2,771
66,448
69,219
(1,674)
67,545
238,201
238,201
238,201
238,201|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 2025**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30[th] April 2025 and were signed on its behalf by:
G A Lovegrove
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 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is 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**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete 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.
Restricted funds can only be used for particular restricted purposes within the objects of the 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 2025**
|**2.**|**OTHER TRADING ACTIVITIES**|||
|---|---|---|---|
|||31.1.25|31.1.24|
|||£|£|
||Boat hire fees|13,535|12,375|
||Membership fees|65|102|
|||13,600|12,477|
|**3.**|**INVESTMENT INCOME**|||
|||31.1.25|31.1.24|
|||£|£|
||Deposit account interest|746|263|
|**4.**|**NET INCOME/(EXPENDITURE)**|||
||Net income/(expenditure) is stated after charging/(crediting):|||
|||31.1.25|31.1.24|
|||£|£|
||Depreciation - owned assets|17,175|19,113|
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 January 2025 nor for the year ended 31 January 2024.
## **Trustees' expenses**
Within expenses £2,856 was paid to the trustees for various costs including travel £693.
## **6. TANGIBLE FIXED ASSETS**
|**COST**
At 1 February 2024 and 31 January 2025
**DEPRECIATION**
At 1 February 2024
Charge for year
At 31 January 2025
**NET BOOK VALUE**
At 31 January 2025
At 31 January 2024|Waveney
Stardust
I
£
122,861
64,999
5,786
70,785
52,076
57,862|Waveney
Stardust
II
£
241,737
130,036
11,170
141,206
100,531
111,701|Equipment
£
12,210
11,117
219
11,336
874
1,093|Totals
£
376,808
206,152
17,175
223,327
153,481
170,656|
|---|---|---|---|---|
continued...
Page 8
**WAVENEY STARDUST TRUST LIMITED**
**for the Year Ended 31 January 2025**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
VAT
Prepayments
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**9.**
**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 1.2.24
£
238,201
238,201
Incoming
resources
£
35,841
35,841|31.1.25
31.1.24
£
£
-
150
63
55
2,650
2,566
2,713
2,771
31.1.25
31.1.24
£
£
1,441
1,337
614
337
2,055
1,674
Net
movement
At
in funds
31.1.25
£
£
(11,094)
227,107
(11,094)
227,107
Resources
Movement
expended
in funds
£
£
(46,935)
(11,094)
(46,935)
(11,094)|
|---|---|---|
continued...
Page 9
## **WAVENEY STARDUST TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **for the Year Ended 31 January 2025**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.2.23
£
250,028
250,028|Net
movement
in funds
£
(11,827)
(11,827)|At
31.1.24
£
238,201
238,201|
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|36,157|(47,984)|(11,827)|
|**TOTAL FUNDS**|36,157|(47,984)|(11,827)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.2.23
£
250,028
250,028|Net
movement
in funds
£
(22,921)
(22,921)|At
31.1.25
£
227,107
227,107|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|71,998|(94,919)|(22,921)|
|**TOTAL FUNDS**|71,998|(94,919)|(22,921)|
continued...
Page 10
**WAVENEY STARDUST TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 January 2025**
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st January 2025 other than expenses set out in note 5.
Page 11
|**WAVENEY STARDUST TRUST LIMITED**|||
|---|---|---|
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**|||
|**for the Year Ended 31 January 2025**|||
||31.1.25|31.1.24|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations and fund raising|21,495|23,417|
|**Other trading activities**|||
|Boat hire fees|13,535|12,375|
|Membership fees|65|102|
||13,600|12,477|
|**Investment income**|||
|Deposit account interest|746|263|
|**Total incoming resources**|35,841|36,157|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Insurance, tolls & licenses|4,242|3,958|
|Electric|141|201|
|Telephone and mobile|1442|793|
|Printing, postage, stationery and advertising|269|203|
|Sundries|200|362|
|Rent and mooring fees|2,574|2,511|
|Training and testing of machines|192|192|
|Galley|398|247|
|Travel expenses|784|768|
|Boat fuel and pumpouts|1,175|1,430|
|Fundraising fees|5,760|5,520|
|Repairs and renewals|10,133|10,189|
|Website and software rental|1,367|1,247|
|Bank charges|217|179|
|Accountancy|750|600|
|Goods for resale|-|200|
|Depreciation Plant and equipment|17,175|19,113|
|Gift aid recovery|116|271|
||46,935|47,984|
|Total resources expended|46,935|47,984|
|**Net expenditure**|(11,094)|(11,827)|
This page does not form part of the statutory financial statements
Page 12
## **Issuer**
**Issuer** van Dijk Accountants **Document generated** Thu, 1st May 2025 16:10:34 BST **Document fingerprint** 20e574b858121dce8db16021542629af
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
Wed, 14th May 2025 16:32:04 BST Wed, 14th May 2025 16:32:04 BST Wed, 14th May 2025 16:32:04 BST
Ms Ginnette Lovegrove - Signer (b5c7ff13a8e6d1885494f3bc55887141) Mr Neil Foreman - Copied In (a07a1cf669a03e3162aacee2f5fec805) Piet van Dijk - Copied In (5dc7bc5de33a64ce23e2bb35dbe5145f)
## **Audit history log**
## **Date**
Thu, 1st May 2025 16:10:34 BST Thu, 1st May 2025 16:10:34 BST Thu, 1st May 2025 16:10:34 BST Thu, 1st May 2025 16:10:34 BST Thu, 1st May 2025 16:10:34 BST Thu, 1st May 2025 16:10:34 BST
Thu, 1st May 2025 16:10:34 BST Thu, 1st May 2025 16:10:34 BST Thu, 1st May 2025 16:10:34 BST Thu, 1st May 2025 16:10:34 BST
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**Action** Envelope generated with fingerprint f58abecbb9177979dc8bddf575fc6ab5 (35.176.231.177) Document generated with fingerprint c9d43465c7c6594b8cf84ecd57cb5334. (35.176.231.177) Document generated with fingerprint 20e574b858121dce8db16021542629af. (35.176.231.177) Document generated with fingerprint 93fdcd0f1229b23a1ded5847f4d1d4d1. (35.176.231.177) Document generated with fingerprint 64adddd98d3af84e13fc476b380ca08a. (35.176.231.177) Document generated with fingerprint a0c398aa01f01c4b671b1ad5f4071c5e. (35.176.231.177) Ms Ginnette Lovegrove has been assigned to this envelope. (35.176.231.177) Mr Neil Foreman has been assigned to this envelope. (35.176.231.177) Piet van Dijk has been assigned to this envelope. (35.176.231.177) Envelope has been set to automatically remind the active signer every 1 day(s). (35.176.231.177) Envelope generated
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