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2021-03-31-accounts

Registered charity in England and Wales (1148600) and Scotland (SC051304)

Ensuring everyone can access the water with a safe, barrier free, enriching experience

ANNUAL REPORT AND ACCOUNTS 2020.21 www.wetwheelsfoundation.org

BUCKINGHAM PALACE I am writing on behalf of Her Royal Highness The Princess Royal io congrdtulaic Wctwheels ()n thc IO, anniversary ol. Iheir foundaiion. As Paiion of Wetwheels, Hcr Royal Highnes4 i% well aware of the exiraordinary vision that over 10 year8 hd5 now made powerboating an ordAnary accessible ac(ivity for thoqe in wheclchairs or with limitcd Inobility. That exirai)rdinary vision CaTnc from Weiwheels. founder Geoff Holi. The charity Lotitinues to put people at lis core, and The Princess Ann¢ Ch￿ilieS I'rnst was pleased io be able to contribute this year to a n¢w boat that will o￿n up Scottish waters as well. The Princess Royal hope.q thai Wetwheels continues to ihrive. Charles HJ Davie% MVO Private Secreiary to Thc Princess Royal Andy Fcll, Esq.. FRSA ROVI MNADP Chair Weiwheels

Contents

Page
1. Chai��� i����d�c�i�� 4
2. Objectives and activities 5
3. Achievements and performance 6
4. The journey is just beginning 12
5. Thank you to our supporters 13
6. Structure, Governance & Management 14
7. Reference and administration details 16
8. Financial review 17
9. Statutory annual financial statements 19
10. I�de�e�de�� e�a�i�e��� �e���� �� �he 26
Accounts

3

1. Chai��� i����d�c�i��

Dear Friends,

May I thank you for your interest in Wetwheels, which provides barrier-free boating and a chance to go to sea for disabled people of all ages.

2020 has proved to be a particularly challenging year, as Covid 19 severely impacted our activities, and presented our skippers, volunteers and others who come aboard with a range of obstacles to participation.

Our purpose-built, fully accessible powerboats provide an opportunity to all, including

some of the most profoundly disabled, to access the water with a true sense of freedom.

This freedom was temporarily curtailed when Covid forced us to suspend our activities, and we used this time to plan ahead, determined to be back on the water as soon as regulations allowed. Many of our participants were isolated, remaining indoors for many weeks and we wanted them to safely re-join us as soon as possible.

I would like to take this opportunity to pay tribute to the incredible work of our teams and their dedication during the pandemic. Their support and flexibility enabled Wetwheels to maintain the overall stability of the organisation, and emerge strongly once regulations were relaxed.

We have no wish to rest on our laurels, and our excellent Board of Trustees continues to monitor events closely, ready to respond as necessary.

2021 marked the 10[th] anniversary of Wetwheels. We now have six boats in the fleet and a seventh in build, destined for Edinburgh. May I thank everyone who has helped us reach this wonderful milestone and we look forward to the next ten years of creating magical memories.

With best wishes,

Andy Fell - Chair of Trustees

4

2. Objectives and activities

Charitable object

The relief of those in need by reason of disability through powerboating in the interests of social welfare and the object of improving their conditions of life.

Vision

To ensure everyone can access the water with a safe, barrier free, enriching experience.

Mission Statement

Wetwheels offers a unique opportunity for disabled and disadvantaged people of all ages - including those with multiple, profound and complex impairments - to access the water.

Central to our experience is active participation - helping to broaden aspirations, increase confidence and directly impact on health and wellbeing.

We continually innovate through new technologies such as developing new steering systems for those with particular disabilities, and improve what we offer through feedback from our dedicated teams, and participants.

We ensure a sustainable operation through a range of income streams, funding and support.

By 2025, we aim to support 12,000 people every year to participate in a Wetwheels experience across the UK, with the widest reach and awareness possible.

5

The Wetwheels Foundation is a national charity that supports the health and well-being of disabled people of all ages. By enabling disabled people to be active in a highly sensory, rich maritime environment, Wetwheels helps to increase confidence and reduce anxiety.

Through a network of fully accessible, custom-built powered catamarans strategically located around the UK, we offer barrier free access to the sea. Participants not only learn new skills such as seamanship and boat handling but these lived-life experiences encourage independence of thought and can be shared with family and friends.

Wetwheels both inspires and sparks curiosity. For a moment in time, participants can leave their disability on the dock and become active members of the Wetwheels crew.

3. Achievements and performance

The year of 2020 was exceptional and unprecedented in light of the COVID 19 pandemic. As the new season commenced, we had to take the decision to shut down all operations on the water to protect both our participants and crew.

As guidance was updated and thanks to the hard work, dedication and resourcefulness of our Operators and team, we were able to give access to over 1,000 people to the water over the season. Restrictions included limited numbers per trip and ongoing social distancing procedures.

6

Our desire to be back on the water as soon as possible was in response to feedback we received - that many disabled people were experiencing sadness and depression in light of the lockdown.

The range of disabilities of those accessing Wetwheels across the year included, but was not limited to:

7

We retain our core range of trips and experiences on Wetwheels to ensure

the widest impact for the broadest range of people.

Our Young Mariners trips give the opportunity to enjoy a fun and inspirational adventure on the water, experiencing all the sensory elements and learning seamanship alongside their peers, friends and families. All the young people who join us are active participants - with specialist adapted controls, everyone has the opportunity to take the helm and drive.

The Maritime Adventures experience, developed in Portsmouth, involves local charities and community groups sharing local history, landmarks and nature, from the unique perspective of the water. Our interactive website provides the opportunity to research these landmarks and we continue to discover new routes and magical secrets each trip.

Harbour Breezes provides a positive and enjoyable experience for older people and those living with dementia, together with accompanying family members, friends or carers. The trips trigger memories for elderly people - for example, remembering previous maritime jobs, holidays or visiting the local area. Those with such illnesses are often forgotten but we value their experiences and knowledge, and enjoy seeing their delightful reactions to coming onboard.

8

‘ Birthday Special � a letter by Linda Barnes

�Sometimes days don�t get much better - today was one of those days. For Ken�s birthday I�d wracked my brain for something special. We know we have to make things count while we can. Ken was first introduced to the charity Wetwheels a couple of years ago, through an outing with his dementia group to Whitby. I�ll never forget how he came home buzzing. He�d taken his turn to drive at the wheel of a motorboat. This came very shortly after he had been refused his motor licence due to his condition and the loss of independence was still very raw.

Our grandson had never been on a boat, and was a bit apprehensive at first, but soon became bewitched by the sea. This was no potter around the coast, our fabulous crew soon had us at full throttle, cutting through the swell, with spray occasionally splashing us in the face! We were treated to inquisitive grey seals, their huge eyes watching in our direction. We were thrilled. Our little five year old totally transfixed scanning the sea for more signs of marine life.

I simply couldn�t believe it when the boat suddenly stopped, our experienced skipper having spotted the majestic arched back and triangular fin of a minke whale. We are all in awe and learnt stories and the history of the coastline. Ken has loved it. An adventure that our grandson will never forget, and happy feelings Ken will remember. A priceless experience, caring and understanding crew, respectful, warm and welcoming. Dementia really didn�t matter today, thrills and excitement led the way.

Uplifted, thankful, blessed. �

9

Our Outreach programme forms part of our National Development Strategy to widen our network of disabled participants and also to inspire our own aims to grow and develop as an organisation.

Due to the impact of the pandemic, sadly our Outreach activities were severely restricted but this remains central to our operations.

For 2021/22 visits to Plymouth, Eastbourne, North Shields, London and Edinburgh amongst many more, form part of our planning and delivery.

We continue to work with the Angling Trust and the

British Disabled Angling Association, delivering highly successful sea angling trips and providing the only coordinated disabled sea angling programme in the UK.

We provide state-of-theart equipment including electric reels enabling those with little or no hand movement to land their catch independently.

As with our Outreach programme, these activities were impacted over the past 12 months, but the early feedback from 2021 shows how much these experiences continue to be enjoyed by everyone, of all ages, who take part.

10

With grant funding successfully received, Wetwheels Solent created the first Virtual Reality experience on a Wetwheels boat - so if someone cannot come to Wetwheels, we can come to them - and no one is excluded.

Working with industry leading experts for filming and production, the response has been wonderful and we will widen access to this experience in 2022.

Wetwheels is committed to equality & diversity across all our activities. We welcome and celebrate the diversity of all the communities where we are located, with a strong commitment to everyone being able to access the be�efi�� �f �B��e Hea��h�.

As a core value we recognise and develop the potential of our staff teams, volunteers and participants.

We continue to explore ways to limit our carbon footprint and understand new technologies with our partners, retaining the protection of our natural environment for future

generations at the heart of our work, across a range of coastal communities.

11

4. The journey is just beginning

�After an extremely challenging year, we have weathered the Covid 19 storm with some fantastic support from our small staff team, trustees, volunteers, key donors and funding partners.

For many disabled people - myself included - the impact of the pandemic will last longer and be more profound than for most. We believe, more than ever, that Wetwheels plays an important part in the health and wellbeing of our participants, as well as their families and carers.

There is something very special about being on the water. For someone with a disability, being at sea offers unparalleled freedoms. Your mind and imagination fill with things that once did��� �ee� ����ib�e.

Paralysed from the

neck down in an accident at the age of 18, I have maintained the passionate belief that anything can be achieved given a positive approach and the support to help make that dream a reality. That passion remains undimmed.

In our 10th Anniversary year, The Foundation is at an important crossroads. Having created a solid infrastructure, with carefully targeted resourcing to reflect the pressures on funders and donors, we have realised this infrastructure is fundamental to not only our plans to grow and innovate, but the overall sustainability of Wetwheels.

This includes true UK coverage - with a new base in Scotland being planned as I write, we have a number of conversations taking place. We will be updating our friends and supporters on these plans shortly.

Wetwheels provides the opportunity where none had previously existed for many thousands of disabled people to access the sea, often for the first time. As we look ahead with optimism, we maintain our ambition to do more. You will see just what we have achieved over the past 12 months - and what we aspire to achieve.�

Geoff Holt MBE DL, Founder and trustee, Wetwheels Foundation

12

5. Thank You to our supporters

Cheetah Marine Geoff & Fiona Squire Foundation Jack Brunton Charitable Trust Mindworks Marketing Mrs FB Laurence Charitable Trust Peter Harrison Foundation Raymarine Sport England Superyacht Charities Suzuki Marine The Frost Foundation The Gosling Foundation The Provincial Grand Lodge of Hampshire and Isle of Wight The Provincial Grand Lodge of Sussex Truemark Trust Worshipful Company of Fishmongers Worshipful Company of Barbers Worshipful Company of Insurers Wylie Charitable Trust

Can we also say Thank You to our wonderful team, including our highly dedicated volunteers who play such a crucial role in us achieving our aims and enabling so many to access the water via a Wetwheels experience.

13

6. Structure, Governance & Management

The Wetwheels Foundation is a registered charity that delivers services through our network of Wetwheels Operators. The charity is constituted by way of Trust Deed created 25[th] July 2011.

The trustees play a central role and have regard to the Charity Commission's guidance on public benefit in planning the activities of The Wetwheels Foundation. As the organisation has grown, we recruited a part-time Chief Executive Officer and a Company Secretary in 2020 to ensure a sustainable and thriving organisation.

The Foundation provides stewardship, trustee management, guidance, support and information for our network:

Safety is a high priority. Detailed risk assessments, a range of policies and a suite of 12 Standard Operating Procedures (SOPs), promote the highest standards under which activities are delivered. These exceed the requirements of UK law and government guidance.

Our skippers are fully trained and commercially endorsed by the regulating authorities, and our volunteer crew receive our bespoke disability awareness training in a maritime context. All Wetwheels boats are MCA /

MECAL coded vessels, licensed to take passengers to sea. Wetwheels are c���ide�ed ���bjec� �a��e� e��e���� b� �he Ma�i�i�e & C�a��g�a�d Age�c� (MCA). Our trustees, who include Founder Geoff Holt MBE DL, guide the development of the organisation, consider risk and review operations by means of a bi-annual internal audit of all Operators.

14

Trustees are recruited when the opportunity arises to enhance and strengthen the oversight of our work.

We have been delighted to welcome Gemma Osgood and Paul Strzelecki as new trustees this year, and they have added their skills and knowledge to the experience of our Board of trustees.

There is a culture of ongoing development through shared learning and signposting of charity training and seminars on areas such as charity governance and most recently, managing a charity during a pandemic.

The Wetwheels Foundation is registered with the Fundraising Regulator and adheres to The Code of Fundraising Practice, which sets out the responsibilities that apply to fundraising carried out by charitable institutions in the UK.

15

7. Reference and administration details

Charity name: Wetwheels Foundation

Registered charity England and Wales 1148600 and Scotland SC051304

Principal address: The Victory

Gunwharf Quays House, Gunwharf Quays Portsmouth PO1 3TZ

Patron: HRH The Princess Royal

Trustees: Andrew Fell - Chair David Parkinson - Vice-Chair Alan Cummings Paul Strzelecki Gemma Osgood Trevor Phillips

Founder and trustee: Geoff Holt MBE DL

Examiner: Mary Wallbank Charity Management Services, 19 S�i�cha� D�i�e, Cha�d�e��� F��d, Eastleigh, SO53 4QJ

Legal adviser: Laura Trapnell Paris Smith, 1 London Road Southampton, SO15 2AE

Website: www.wetwheelsfoundation.org

D��a�i���: Pa�ab�e �� �We��hee�� F���da�i��� CAF Bank Ltd Sort code: 40-52-40 Account number: 00024963 25 Kings Hill Avenue, Kings Hill, West Malling, ME19 4JQ

16

8. Financial review

For the period 2020.21 Foundation core expenses at £80,500 were slightly above the budget of £73,000 set for the year. This figure equates to publicity and marketing costs, all support costs including the roles of Chief Executive Officer and Company Secretary, finance support provided by Your Finance Partner (an external accounting company) and independent examination costs.

As the pandemic took hold, we were mindful of both managing costs carefully whilst maintaining a robust core function, ensuring our charitable obligations were maintained.

Unrestricted Funds at 31 March 2021 increased to £11,041 from £1,718 at the end of the previous financial year, even with the headwinds of reduced fundraising income. Having made important structural changes to address this challenge and enable us to ensure our long-term sustainability at the beginning of April 2020, The Foundation ended the year in a stable position.

We are now set to be able to grow in line with our 2021.2026 development strategy.

The Wetwheels network has maintained a mix of income streams but these were temporarily impacted by the pandemic. These notably include support from community fundraising events, corporate fundraising and contributions from participants, as trip numbers declined. As activity built back to prepandemic levels during 2021, we have seen these income streams returning which is extremely positive.

As in previous years, participants may make a contribution towards their voyage costs. These are waived or off-set for groups and individuals by applying grants, to ensure no one is excluded due to lack of finance.

If making grants to individual Operators, The Foundation manages this process via the trustee Board in order to ensure scrutiny and fairness.

Restricted Funds increased to £412,091 in the main reflecting the new Wetwheels South-West boat, which is in full operation and owned by The Foundation. Restricted funds are also managed for grants that we receive centrally, or that we hold as designated funds for each Operator for specific purposes. Through a flexible costing model we remain financially stable, with careful monitoring via trustee oversight and the management from both our Chief Executive and Company Secretary.

The Financial position at the Balance Sheet date (total funds held) is £423,132.

17

Statement on the charit��s polic� on reserves

The following policy is in place:

This is to safeguard against the possibility of any shortfall in our income (due to economic conditions, fundraising or the ongoing pandemic impact) and to ensure that we continue to comply with our charitable, legal and fiscal obligations.

Declaration

The trustees declare that they have approved the trustees report and annual accounts for 2020.21.

Signature: �������������������������������� �������������������������������������� Full name: Andy Fell David Parkinson Position: Chair Vice Chair Date: 20/12/2021

18

Wetwheels Foundation

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2021

Note
Income
Donations and grants
2
Fund-raising activities
Charitable activities: Licence fees
Total Income
Expenditure
Raising Funds
Charitable activities
3
Total Expenditure
Net Income/(Expenditure)
Transfers
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
31,803
221,260
253,063
317,934
2,285
-
2,285
73,137
5,000
-
5,000
4,000
39,088
221,260
260,348
395,071
2,140
-
2,140
4,388
27,625
159,511
187,136
179,687
29,765
159,511
189,276
184,075
9,323
61,749
71,072
210,996
-
-
-
-
9,323
61,749
71,072
210,996
1,718
350,342
352,060
141,063
11,041
412,091
423,132
352,060

19

Wetwheels Foundation

BALANCE SHEET AS AT 31 MARCH 2021

Note
2021
2020
£
£
£
£
Fixed Assets
Intangible
6
4,846
7,334
Tangible
7
167,416
122,508
172,262
129,842
Current Assets
Debtors
8
485
84,056
Bank and Cash
252,453
152,641
252,938
236,697
Creditors: amounts due within one year
9
2,068
14,479
Net Current Assets
250,870
222,218
Total Net Assets
423,132
352,060
Represented by:
Restricted Funds
10
412,091
350,342
Unrestricted Funds
11,041
1,718
Total Funds
423,132
352,060
The financial statements were approved by the trustees on....................������������...............................2021
and signed on their behalf:-		 £
84,056
152,641		 2020
£
7,334
122,508
129,842
222,218
236,697
14,479
352,060
350,342
1,718
352,060

Name

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20

Wetwheels Foundation

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation and uncertainty in the preparation of the financial statments are as follows.

a Basis of preparation

The accounts are prepared in accordance with the accounting regulations set out under the Charities Act 2011, and with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP2015), issued by the Charity Commission; with the Companies Act 2006 and the Financial Reporting Standard 102.

Assets and liabilities are initially recognised at historical cost or transaction value, unless otherwise stated below. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

b Funds

Restricted funds are funds which must be used in accordance with specific restrictions imposed by the donor or the terms of a specific appeal. Expenditure which meets this criteria is drawn from the fund. Unrestricted funds are those funds which can be used for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees have, at their discretion, temporarily set aside resources for a specific purpose.

c Income

Income is included in the accounts once the charity has entitlement, the amount can be measured with sufficient reliability and there is the probability of receipt.

Earned income is included in the period in which the service is provided, if any performance conditions attached have been met or are fully within the control of the charity.

Donations are included when given, together with an estimate of the related gift aid due thereon.

Donated services are included in the accounts when received at the value of the gift to the charity provided the value of the gift can be measure reliably. The equivalent amount is recognised as an expense under the appropriate category. Legacies are included when the date of probate is ascertained and the amount receivable can be reliably estimated. Income which is subject to conditions that the charity has yet to fulfil, or which is specifically for use in a future accounting period, is treated as deferred income.

d Expenditure

Expenditure is included on an accruals basis when incurred, that is when a legal or constructive obligation arises, and includes related irrecoverable VAT. Future liabilities are included at the best estimate of the amount required to settle them. Future liabilities are included at the best estimate of the amount required to settle them.

e Fixed assets

Individual assets with a cost of more than £1,000 and have an expected useful life of more than two years are capitalised.

Depreciation is provided at the following rates in order to write-off each asset over its estimated useful life:

Boat hulls over 20 years, straight line, on cost Boat engines and equipment over 4 years, straight line, on cost Website over 3 years, straight line, on cost

f Pensions

The charity makes contributions for eligible employees, to NEST which are included in the accounts when they become payable.

21

Wetwheels Foundation

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

INCOME
2 Donations and grants
Donations including gift aid
Grant income:
Sport England
Superyacht Charities Foundation
Wylie Charitable Trust
Geoff & Fiona Squire Foundation
Frost Foundation
The Gosling Foundation
Hampshire and IOW Community Foundation
Peter Harrison Foundation
Hays Travel Foundation
Worshipful Company of Insurers
Other grants
3 Charitable Activities
Grants to Wetwheels CICs (see note 10)
Publicity and marketing
Staff costs (see note 5)
Operators' support costs
Support costs
Amortisation of website
Depreciation of powerboats
Independent examination
EXPENDITURE		 Unrestricted
Restricted
Total
Funds
Funds
2021
£
£
£
21,184
107,941
129,125
-
108,319
108,319
10,619
-
10,619
-
5,000
5,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
31,803
221,260
253,063
6,627
81,853
88,480
1,098
2,488
3,585
-
-
0
-
4,105
4,105
16,413
59,502
75,915
2,488
-
2,488
-
11,564
11,564
1,000
-
1,000
27,625
159,511
187,136		 Total
2020
£
119,054
80,130
-
-
50,000
10,000
10,000
8,500
8,400
5,000
4,900
21,950
317,934
110,697
1,590
30,345
5,965
30,090
-
-
1,000
179,687

4 Trustees' remuneration and expenses

5 trustees received expenses totalling £4,584 in respect of travel and other disbursements incurred (2020: 7 trustees received a total of £6,152). No remuneration was paid to any trustees.

5 Staff costs
Gross salaries
Social security costs
Employer pension contributions		 2021
£
-
-
-
-		 2020
£
29,575
-
770
30,345

The average number of employees during the year was 0 (2019 - 1)

No employee received emoluments in excess of £60,000 during the year (2019 - none).

22

Wetwheels Foundation

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

6
Intangible Fixed Assets
Cost at 1 April 2020
Additions
Cost at 31 March 2021
Amortisation at 1 April 2020
Charge for year
Amortisation at 31 March 2021
Net Book Value at 31 March 2021
Net Book Value at 31 March 2020
7
Tangible Fixed Assets
Cost at 1 April 2020
Additions
Cost at 31 March 2021
Depreciation at 1 April 2020
Charge for year
Depreciation at 31 March 2021
Net Book Value at 31 March 2021
Net Book Value at 31 March 2020
8 Debtors: Amounts falling due within one year
Accrued income
Other
Prepayments

Creditors: Amounts falling due within one year
Trade
Social security and other taxes
Other creditors
Accruals and deferred income		 Website
Total
£
£
7,334
7,334
-
-
7,334
7,334
-
-
2,488
2,488
2,488
2,488
4,846
4,846
7,334
7,334
Powerboat
Powerboat
Total
Hulls
Engines
and
Equipment
£
£
£
76,344
46,164
122,508
43,348
13,124
56,472		 Website
Total
£
£
7,334
7,334
-
-
7,334
7,334
-
-
2,488
2,488
2,488
2,488
4,846
4,846
7,334
7,334
119,692
59,288
178,980
-
3,461		 -
-
8,103
11,564
3,461
8,103
11,564
116,232
51,185
167,416
76,344 46,164
122,508
2021
2020
£
£
-
83,501
-
-
485
555
485
84,056
£
£
318
12,729
-
-
-
-
1,750
1,750
2,068
14,479

9 Creditors: Amounts falling due within one year

23

Wetwheels Foundation

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

10 Restricted Funds

The restricted fund balances are held as bank balances, except for the power boat funds which are held as fixed assets, as noted below.

Funds Incoming Resources Funds
Note 1/04/2020 Resources expended 31/03/2021
£ £ £ £
Central Operator funds (previously Wetwheels
Foundation fund) a 12,871 6,600 (6,275) 13,196
Powerboat fund - South West, including project delivery b 203,445 74,519 (75,844) 202,120
Powerboat fund - Scotland c - 50,000 - 50,000
Wetwheels Solent d 53,964 17,739 (6,000) 65,703
Wetwheels Yorkshire d 15,259 10,466 (8,203) 17,522
Wetwheels Hamble d 53,123 15,635 (25,340) 43,418
Wetwheels South East d 11,678 - - 11,678
Covid 19 support funds e - 38,800 (33,743) 5,057
Other f - 7,500 (4,105) 3,395
Total 350,342 221,260 (159,511) 412,091

11 Related Party Transactions

Consultancy fees of £17,400 (2020: £3,943) were paid to the trustee Trevor Philips. Training fees of £420 (2020: £420) were paid to a company over which Andrew Fell and his family had significant control. Grants totalling £88,480 (2020: £110,697) were paid to various Wetwheels CICs of which the trustee Geoff Holt is a director or trustee.

12 Volunteers

In accordance with FRS102, the value of volunteer time is not recognised in the accounts. The contribution of volunteers is reported on in the Trustees' Report.

13 Statutory Information

The charity is governed by a trust deed and registered with the Charity Commission, in England and Wales.

24

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021

Wetwheels Foundation

The statement below is included to provide the comparative figures for Restricted Income and Expenditure from 2019-20:

Powerboat fund
Wetwheels Solent
Wetwheels Yorkshire
Wetwheels Hamble
Wetwheels South East
Wetwheels Foundation Fund
Total		 £
£
£
£
-
207,781
(4,336)
203,445
62,321
60,043
(68,400)
53,964
11,605
21,264
(17,610)
15,259
7,533
45,640
(50)
53,123
11,078
600
-
11,678
24,680
16,493
(28,302)
12,871
117,217
351,821
(118,697)
350,342

25

INDEPENDENT E�AMINER�S REPORT TO THE TRUSTEES OF Wetwheels Foundation

I report on the financial statements of the charitable company for the year ended 31 March 2021, which comprise the following Statement of Financial Activities, Balance Sheet and supporting notes.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of the Association of Charity Independent Examiners.

It is my responsibility to:

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My examination was carried out in accordance with 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion i� gi�en a� �o �he�her �he financial ��a�emen�� pre�en� a ��r�e and fair �ie�� and �he repor� i� limited to those matters set out in the statement below.

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In connection with my examination, no matter has come to my attention to indicate:

Mary Wallbank DChA, FCA , FCIE Date: ����������������� Charity Management Services 19 Stinchar Drive Chandlers Ford Eastleigh Hampshire SO53 4QJ

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26

YETWNEE'LS ESCAPE FIRST AID IT